ANTICIMEX
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 27-07-2026 at the NBB all 49 filings
Turnover
€41.1m▲ 9.1%
2024 · €37.7m
EBIT margin
8.7%▲ 1.0pp
2024 · 7.7%
Net result
€1.6m▲ 104%
2024 · €777,122
Working capital
€6.1m▲ 34.8%
2024 · €4.5m
In the rankings
#3 employer in Elsene, Administrative and support services sector#10 company by total assets in Elsene, Administrative and support services sector
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€41.1m
▲ 9.1%
2025
20182025
Operating result
€3.6m
▲ 23.2%
2025
20182025
Net result
€1.6m
▲ 104%
2025
highest quarter of the sector
20182025
EBIT margin
8.7%
▲ 1.0pp
2025
20182025
Equity
€6.8m
▲ 30.3%
2025
highest quarter of the sector
20182025
Total assets
€32.8m
▼ 7.4%
2025
highest quarter of the sector
20182025
Debt
€25.5m
▼ 14.6%
2025
20182025
Working capital
€6.1m
▲ 34.8%
2025
highest quarter of the sector
20182025
Solvency
20.8%
▲ 6.0pp
2025
middle half of the sector
20182025
Current ratio
1.93
▲ 0.12
2025
middle half of the sector
20182025
Return on assets (ROA)
4.8%
▲ 2.6pp
2025
middle half of the sector
20182025
Staff (FTE)
297
▲ 7.7%
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€15.1m-€16.6m▲ 9.9%€25.3m▲ 52.1%€28.3m▲ 12.1%€31.8m▲ 12.2%€34.1m▲ 7.4%€37.7m▲ 10.3%€41.1m▲ 9.1%
Operating result€1.8m-€1.3m▼ 26.6%-€0.5m€0.4m€1.1m▲ 175%€1.5m▲ 34.0%€2.9m▲ 93.9%€3.6m▲ 23.2%
Net result€1.2m-€0.8m▼ 31.7%-€1.5mbelow the sector's middle half-€1.1mbelow the sector's middle half▲ 28.2%€0.07mwithin the sector's middle half-€0.4mbelow the sector's middle half€0.8mabove the sector's middle half€1.6mabove the sector's middle half▲ 104%
EBIT margin12.0%-8.0%▼ 4.0pp-2.1%▼ 10.1pp1.4%▲ 3.5pp3.5%▲ 2.1pp4.4%▲ 0.9pp7.7%▲ 3.3pp8.7%▲ 1.0pp
Equity€6.6m-€7.4m▲ 12.7%€5.9mabove the sector's middle half▼ 20.6%€4.8mabove the sector's middle half▼ 18.7%€4.9mabove the sector's middle half▲ 1.4%€4.5mabove the sector's middle half▼ 8.1%€5.2mabove the sector's middle half▲ 17.4%€6.8mabove the sector's middle half▲ 30.3%
Total assets€12.4m-€13.7m▲ 10.3%€50.1mabove the sector's middle half▲ 267%€45.5mabove the sector's middle half▼ 9.3%€41.9mabove the sector's middle half▼ 7.9%€38.5mabove the sector's middle half▼ 8.0%€35.4mabove the sector's middle half▼ 8.2%€32.8mabove the sector's middle half▼ 7.4%
Debt€5.8m-€6.2m▲ 7.2%€43.9m▲ 612%€40.4m▼ 8.1%€36.8m▼ 9.0%€33.8m▼ 8.1%€29.8m▼ 11.6%€25.5m▼ 14.6%
Working capital€4.9m-€4.7m▼ 2.4%€7.2mabove the sector's middle half▲ 50.9%€4.0mabove the sector's middle half▼ 44.2%€4.1mabove the sector's middle half▲ 2.0%€4.3mabove the sector's middle half▲ 5.2%€4.5mabove the sector's middle half▲ 5.8%€6.1mabove the sector's middle half▲ 34.8%
Solvency53.1%-54.3%▲ 1.1pp11.7%below the sector's middle half▼ 42.5pp10.5%below the sector's middle half▼ 1.2pp11.6%below the sector's middle half▲ 1.1pp11.6%below the sector's middle half=14.8%below the sector's middle half▲ 3.2pp20.8%within the sector's middle half▲ 6.0pp
Current ratio3.49-3.49=2.86above the sector's middle half▼ 0.631.94within the sector's middle half▼ 0.921.93within the sector's middle half▼ 0.011.84within the sector's middle half▼ 0.091.81within the sector's middle half▼ 0.031.93within the sector's middle half▲ 0.12
Return on assets (ROA)9.9%-6.1%▼ 3.8pp-3.1%below the sector's middle half▼ 9.2pp-2.4%below the sector's middle half▲ 0.6pp0.2%within the sector's middle half▲ 2.6pp-1.0%below the sector's middle half▼ 1.2pp2.2%within the sector's middle half▲ 3.2pp4.8%within the sector's middle half▲ 2.6pp
Staff (FTE)155.9-159.6▲ 2.4%223.1above the sector's middle half▲ 39.8%229.8above the sector's middle half▲ 3.0%246.4above the sector's middle half▲ 7.2%257.2above the sector's middle half▲ 4.4%275.8above the sector's middle half▲ 7.2%297above the sector's middle half▲ 7.7%
above
within
below
The sector band is the middle half of the companies in Services to buildings and landscape activities (NACE 81). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 23% higher than in 2024 and the highest since 2021. It is the fourth rise in a row.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €32.8m
Fixed assets
€20.1m ▼ 20.4%
Current assets
€12.7m ▲ 25.3%
Equity and liabilities €32.8m
Equity
€6.8m ▲ 30.3%
Provisions
€452,173 ▲ 60.2%
Debt
€25.5m ▼ 14.6%
Debt's share of the balance-sheet total falls from 84.4% to 77.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€9.1m▲
2024 · €8.3m
Cash flow
€7.1m▲
2024 · €6.2m
Quick ratio
1.69▲
2024 · 1.56
Debt to equity
3.74▼
2024 · 5.70
ROE
23.2%▲
2024 · 14.8%
Interest coverage
9.77▲
2024 · 5.16
Debt ≤ 1 year
€6.6m▲
2024 · €5.6m
Debt > 1 year
€11.0m▼
2024 · €16.0m
Income taxes
€1.0m▲
2024 · €636,256
Customer credit
56 days▼
2024 · 59 days
Supplier credit
132 days▼
2024 · 180 days
Staff costs
€20.9m▲
2024 · €19.5m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 243 | 262 | 269 | 292 | 315 |
| full-time | 215 | 225 | 233 | 252 | 268 |
| part-time | 28 | 37 | 36 | 40 | 47 |
| in full-time equivalents | 236.2 | 253.9 | 261.3 | 284 | 306 |
| Average over the year, in full-time equivalents | 229.8 | 246.4 | 257.2 | 275.8 | 297 |
| On a permanent contract | 242 | 261 | 268 | 290 | 315 |
| Joined | 33 | 54 | 45 | 57 | 58 |
| Left | 27 | 35 | 38 | 34 | 35 |
| Agency workers, average number | 17.4 | 15.4 | 9.8 | 7.1 | 9.4 |
| Training hours | 12,420 | 30,980 | 18,943 | 13,984 | 16,578 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1.1m | €1.5m | €1.0m | €1.4m | €1.7m |
| Intangible fixed assets | €2.5m | €272,954 | €233,017 | €91,814 | €163,870 |
| Depreciation and write-downs of the year | €5.4m | €5.6m | €5.5m | €5.4m | €5.6m |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Auditor
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Fee for the audit | €28,750 | €31,695 | €33,550 | €38,000 | €41,730 |
| Other work by the auditor | - | - | - | - | €4,000 |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Subsidies and aid
Flemish government
2022 to 2025 · 10 entries · €234,874 awarded · €234,874 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 2 | €49,113 | €49,113 |
| 2024 | 2 | €55,026 | €55,026 |
| 2023 | 3 | €73,107 | €83,107 |
| 2022 | 3 | €57,628 | €47,628 |
Public contracts
15 awards · 2024 to 2026
Accord-cadre pluriannuel pour les prestations de traitement et de protection contre les animaux nuisibles dans les bâtiments de l’Université de Liège – Campus de Liège, d’Arlon et de Gembloux: Restaurants et Cafétérias universitaires des Campus de Liège (Sart Tilman et Centre-Ville)
Accord-cadre pluriannuel pour les prestations de traitement et de protection contre les animaux nuisibles dans les bâtiments de l’Université de Liège – Campus de Liège, d’Arlon et de Gembloux: Chaufferie centrale et réseau de chaleur (Feeder) sur le Campus de Liège (Sart Tilman)
la lutte contre les nuisibles dans les centres d’accueil gérés par Fedasil et l’Office des étrangers (OE): FED 2026 0054 - 1
Verdelging van nesten van Aziatische hoornaar via een raamovereenkomst waarbij de provincie optreedt als aankoopcentrale: 0800/2026/001 - 1
Verdelging van nesten van Aziatische hoornaar via een raamovereenkomst waarbij de provincie optreedt als aankoopcentrale: 0800/2026/001 - 3
Show 10 more contracts
Verdelging van nesten van Aziatische hoornaar via een raamovereenkomst waarbij de provincie optreedt als aankoopcentrale: 0800/2026/001 - 5
Verdelging van nesten van Aziatische hoornaar via een raamovereenkomst waarbij de provincie optreedt als aankoopcentrale: 0800/2026/001 - 9
Verdelging van nesten van Aziatische hoornaar via een raamovereenkomst waarbij de provincie optreedt als aankoopcentrale: 0800/2026/001 - 10
QMMO25-3621- Raamovereenkomst ongediertebestrijding voor de leden van de Associatie KU Leuven vzw, Centrum voor Levende Talen vzw, Z.org KU Leuven: QMMO25-3621 - 1
Groepsaankoop raamovereenkomst voor plaagdierenbestrijding: IOK_2509PLADI_MP - 1
Ontratting van het rioolnet van de gemeenten gelegen in het Brusselse Hoofdstedelijk Gewest: CSC 2461 (LNV) - 1
Ontratting van het rioolnet van de gemeenten gelegen in het Brusselse Hoofdstedelijk Gewest: CSC 2461 (LNV) - 2
Ontratting van het rioolnet van de gemeenten gelegen in het Brusselse Hoofdstedelijk Gewest: CSC 2461 (LNV) - 3
Ontratting van het rioolnet van de gemeenten gelegen in het Brusselse Hoofdstedelijk Gewest: CSC 2461 (LNV) - 4
ONGEDIERTEBEHEERSING EN -BESTRIJDING
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €28.7m | €32.2m | €34.7m | €38.4m | €41.8m | ▲ 9.1% |
| Turnover70 | €15.1m | €16.6m | €25.3m | €28.3m | €31.8m | €34.1m | €37.7m | €41.1m | ▲ 9.1% |
| Other operating income74 | - | - | - | €0.3m | €0.4m | €0.6m | €0.7m | €0.7m | ▲ 8.4% |
| Non-recurring operating income76A | - | - | - | €0.008m | €0.005m | €0.001m | €0.02m | €0.004m | ▼ 71.9% |
| Operating charges60/66A | - | - | - | €28.3m | €31.1m | €33.2m | €35.5m | €38.3m | ▲ 7.9% |
| Goods for resale, raw materials and consumables60 | - | - | - | €3.0m | €3.2m | €3.0m | €3.1m | €3.8m | ▲ 20.9% |
| Purchases600/8 | - | - | - | €2.9m | €3.3m | €3.0m | €3.3m | €3.9m | ▲ 18.6% |
| Change in stocks: decrease (increase)609 | - | - | - | €0.03m | -€0.03m | -€0.005m | -€0.2m | -€0.1m | ▲ 27.0% |
| Services and other goods61 | - | - | - | €6.2m | €6.7m | €7.0m | €7.1m | €7.7m | ▲ 8.1% |
| Remuneration, social security and pensions62 | - | - | - | €13.6m | €15.4m | €17.6m | €19.5m | €20.9m | ▲ 7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.7m | €1.0m | €4.8m | €5.4m | €5.6m | €5.5m | €5.4m | €5.6m | ▲ 2.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€0.1m | €0.03m | €0.05m | €0.07m | €0.08m | ▲ 17.0% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | €0.02m | -€0.05m | €0.009m | €0.003m | €0.2m | ▲ 60× |
| Other operating charges640/8 | - | - | - | €0.1m | €0.1m | €0.09m | €0.2m | €0.06m | ▼ 70.6% |
| Non-recurring operating charges66A | - | - | - | - | - | - | - | €0.001m | - |
| Operating profit (loss)9901 | €1.8m | €1.3m | -€0.5m | €0.4m | €1.1m | €1.5m | €2.9m | €3.6m | ▲ 23.2% |
| Financial income75/76B | - | - | - | €0.1m | €0.7m | €0.2m | €0.1m | €0.3m | ▲ 80.6% |
| Recurring financial income75 | €0.09m | €0.2m | €0.1m | €0.1m | €0.7m | €0.2m | €0.1m | €0.3m | ▲ 80.6% |
| Income from financial fixed assets750 | - | - | - | - | €0.5m | - | - | - | - |
| Income from current assets751 | - | - | - | €0.02m | €0.05m | €0.05m | €0.03m | €0.05m | ▲ 57.6% |
| Other financial income752/9 | - | - | - | €0.08m | €0.1m | €0.1m | €0.1m | €0.2m | ▲ 86.6% |
| Financial charges65/66B | - | - | - | €1.4m | €1.4m | €1.9m | €1.6m | €1.2m | ▼ 24.1% |
| Recurring financial charges65 | €0.07m | €0.07m | €1.3m | €1.4m | €1.4m | €1.8m | €1.6m | €0.9m | ▼ 41.6% |
| Debt charges650 | €0.05m | €0.06m | €1.3m | €1.4m | €1.4m | €1.8m | €1.6m | €0.9m | ▼ 42.1% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651 | - | - | - | - | - | - | €0.001m | €175 | ▼ 69.3% |
| Other financial charges652/9 | - | - | - | €0.02m | €0.01m | €0.01m | €0.01m | €0.01m | ▲ 43.0% |
| Non-recurring financial charges66B | - | - | - | - | - | €0.02m | - | €0.3m | - |
| Profit (loss) for the period before taxes9903 | €1.8m | €1.4m | -€1.7m | -€0.9m | €0.3m | -€0.2m | €1.4m | €2.6m | ▲ 83.4% |
| Income taxes67/77 | €0.6m | €0.6m | -€0.2m | €0.2m | €0.3m | €0.2m | €0.6m | €1.0m | ▲ 58.1% |
| Taxes670/3 | - | - | - | €0.2m | €0.3m | €0.2m | €0.6m | €1.0m | ▲ 58.1% |
| Profit (loss) for the period9904 | €1.2m | €0.8m | -€1.5m | -€1.1m | €0.07m | -€0.4m | €0.8m | €1.6m | ▲ 104% |
| Transfer from tax-exempt reserves789 | - | - | - | - | - | - | - | €0.1m | - |
| Profit (loss) for the period to be appropriated9905 | €1.2m | €0.8m | -€1.5m | -€1.1m | €0.07m | -€0.4m | €0.8m | €1.7m | ▲ 119% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €12.4m | €13.7m | €50.1m | €45.5m | €41.9m | €38.5m | €35.4m | €32.8m | ▼ 7.4% |
| Fixed assets21/28 | €5.6m | €7.0m | €39.1m | €37.2m | €33.4m | €29.2m | €25.3m | €20.1m | ▼ 20.4% |
| Intangible fixed assets21 | €1.5m | €2.4m | €36.2m | €34.0m | €29.6m | €25.4m | €21.2m | €17.2m | ▼ 18.8% |
| Tangible fixed assets22/27 | €1.0m | €1.0m | €1.5m | €1.8m | €2.3m | €2.3m | €2.5m | €2.8m | ▲ 10.3% |
| Plant, machinery and equipment23 | - | - | - | €1.6m | €2.2m | €2.1m | €2.4m | €2.6m | ▲ 10.0% |
| Furniture and vehicles24 | - | - | - | €0.1m | €0.1m | €0.09m | €0.07m | €0.1m | ▲ 35.5% |
| Other tangible fixed assets26 | - | - | - | €0.04m | €0.04m | €0.1m | €0.1m | €0.1m | ▲ 1.9% |
| Financial fixed assets28 | €3.1m | €3.7m | €1.5m | €1.5m | €1.5m | €1.5m | €1.5m | €0.07m | ▼ 95.2% |
| Affiliated companies280/1 | - | - | - | €1.5m | €1.5m | €1.5m | €1.5m | - | - |
| Participating interests280 | - | - | - | €1.5m | €1.5m | €1.5m | €1.5m | - | - |
| Other financial fixed assets284/8 | - | - | - | €0.03m | €0.06m | €0.05m | €0.05m | €0.07m | ▲ 51.2% |
| Amounts receivable and cash guarantees285/8 | - | - | - | €0.03m | €0.06m | €0.05m | €0.05m | €0.07m | ▲ 51.2% |
| Current assets29/58 | €6.8m | €6.6m | €11.0m | €8.2m | €8.5m | €9.4m | €10.1m | €12.7m | ▲ 25.3% |
| Stocks and contracts in progress3 | €0.9m | €0.9m | €1.3m | €1.2m | €1.3m | €1.3m | €1.4m | €1.5m | ▲ 8.1% |
| Stocks30/36 | - | - | - | €1.2m | €1.3m | €1.3m | €1.4m | €1.5m | ▲ 8.1% |
| Goods purchased for resale34 | - | - | - | €1.2m | €1.3m | €1.3m | €1.4m | €1.5m | ▲ 8.1% |
| Amounts receivable within one year40/41 | €3.4m | €3.4m | €4.6m | €4.9m | €4.8m | €5.4m | €6.0m | €6.3m | ▲ 3.8% |
| Trade receivables40 | - | - | - | €4.8m | €4.7m | €5.4m | €6.0m | €6.3m | ▲ 3.9% |
| Other amounts receivable41 | - | - | - | €0.09m | €0.09m | €0.001m | €0.002m | - | - |
| Current investments50/53 | - | - | - | - | - | - | - | €0.1m | - |
| Other investments51/53 | - | - | - | - | - | - | - | €0.1m | - |
| Cash at bank and in hand54/58 | €2.5m | €2.2m | €4.9m | €1.9m | €2.2m | €2.6m | €2.4m | €4.5m | ▲ 88.6% |
| Deferred charges and accrued income490/1 | - | - | - | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | ▼ 12.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €12.4m | €13.7m | €50.1m | €45.5m | €41.9m | €38.5m | €35.4m | €32.8m | ▼ 7.4% |
| Equity10/15 | €6.6m | €7.4m | €5.9m | €4.8m | €4.9m | €4.5m | €5.2m | €6.8m | ▲ 30.3% |
| Contributions10/11 | €8.7m | €8.7m | €8.7m | €8.7m | €8.7m | €8.7m | €8.7m | €8.7m | = |
| Capital10 | - | - | - | €8.7m | €8.7m | €8.7m | €8.7m | €8.7m | = |
| Issued capital100 | - | - | - | €8.7m | €8.7m | €8.7m | €8.7m | €8.7m | = |
| Reserves13 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Non-distributable reserves130/1 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | ▲ 54.7% |
| Legal reserve130 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | ▲ 95.3% |
| Reserves not available under the articles1311 | - | - | - | - | - | - | €0.04m | - | - |
| Other1319 | - | - | - | €0.04m | €0.04m | €0.04m | - | - | - |
| Tax-exempt reserves132 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | - | - |
| Profit (loss) carried forward14 | -€2.5m | -€1.6m | -€3.2m | -€4.3m | -€4.2m | -€4.6m | -€3.8m | -€2.2m | ▲ 41.7% |
| Provisions and deferred taxes16 | €0.05m | €0.08m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.5m | ▲ 60.2% |
| Provisions for liabilities and charges160/5 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.5m | ▲ 60.2% |
| Other liabilities and charges164/5 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.5m | ▲ 60.2% |
| Amounts payable17/49 | €5.8m | €6.2m | €43.9m | €40.4m | €36.8m | €33.8m | €29.8m | €25.5m | ▼ 14.6% |
| Amounts payable after more than one year17 | - | - | €34.3m | €30.0m | €25.5m | €21.0m | €16.0m | €11.0m | ▼ 31.3% |
| Financial debts170/4 | - | - | - | €30.0m | €25.5m | €21.0m | €16.0m | €11.0m | ▼ 31.3% |
| Other loans174 | - | - | - | €30.0m | €25.5m | €21.0m | €16.0m | €11.0m | ▼ 31.3% |
| Amounts payable within one year42/48 | €2.0m | €1.9m | €3.8m | €4.2m | €4.4m | €5.1m | €5.6m | €6.6m | ▲ 17.6% |
| Trade debts44 | €0.7m | €0.7m | €1.1m | €1.4m | €1.4m | €1.4m | €1.5m | €1.4m | ▼ 11.5% |
| Suppliers440/4 | - | - | - | €1.4m | €1.4m | €1.4m | €1.5m | €1.4m | ▼ 11.5% |
| Taxes, remuneration and social security45 | - | - | - | €2.9m | €3.0m | €3.6m | €4.0m | €5.2m | ▲ 28.7% |
| Taxes450/3 | - | - | - | €0.9m | €0.8m | €1.0m | €0.9m | €1.7m | ▲ 85.3% |
| Remuneration and social security454/9 | - | - | - | €2.0m | €2.2m | €2.7m | €3.1m | €3.5m | ▲ 12.1% |
| Other amounts payable47/48 | - | - | - | €0.005m | €0.005m | €0.005m | €0.003m | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €6.1m | €6.9m | €7.7m | €8.3m | €7.9m | ▼ 4.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.2m | €0.8m | -€1.5m | -€1.1m | €0.07m | -€0.4m | €0.8m | €1.6m | ▲ 104% |
| + Depreciation and write-downs630 | €0.7m | €1.0m | €4.8m | €5.4m | €5.6m | €5.5m | €5.4m | €5.6m | ▲ 2.4% |
| Operating cash flow (approximation) | €1.9m | €1.9m | €3.3m | €4.3m | €5.7m | €5.1m | €6.2m | €7.1m | ▲ 15.2% |
| Investment in fixed assets (approximation) | - | -€2.5m | -€36.9m | -€3.5m | -€1.8m | -€1.3m | -€1.5m | -€0.4m | ▲ 73.9% |
| Change in cash | - | -€0.3m | €2.7m | -€3.0m | €0.3m | €0.3m | -€0.2m | €2.1m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 168 companies had the same profile as ANTICIMEX has now. Two years later, 98.2% were still going and 1.2% had gone bankrupt.
- Large
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
98.2%
was still going
0.6%
stopped otherwise
1.2%
went bankrupt
That fits the bankruptcy probability of ANTICIMEX itself: 0.4% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 168 companies, not a prediction for ANTICIMEX. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 49 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 27-07-2026 | 2026-00341456 | |
| 31-12-2024 | full format | 30-06-2025 | 2025-00195602 | |
| 31-12-2023 | full format | 24-06-2024 | 2024-00159668 | |
| 31-12-2022 | full format | 27-06-2023 | 2023-00175513 | |
| 31-12-2021 | full format | 28-06-2022 | 2022-20158028 | |
| 31-12-2020 | full format | 29-06-2021 | 2021-26600270 | |
| 31-12-2019 | full format | 31-07-2020 | 2020-38000274 | |
| 31-12-2018 | full format | 08-08-2019 | 2019-44900092 | |
| 31-12-2017 | full format | 26-06-2018 | 2018-23300116 | |
| 31-12-2016 | full format | 30-06-2017 | 2017-26900139 |