ARCHIDEE
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 06-07-2026 at the NBB all 17 filings
Turnover
≈ €180,000
Estimated: probably between €120,000 and €310,000
Total assets
€83,809▲ 105%
2024 · €40,882
Net result
€37,165
2024 · -€1,724
Working capital
-€19,415▲ 56.3%
2024 · -€44,425
In the rankings
#10 oldest company in Kortenberg, Manufacturing sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€53,233
▲ 775%
2025
20182025
Net result
€37,165
2025
highest quarter of the sector
20182025
Equity
€3,796
2025
lowest quarter of the sector
20182025
Total assets
€83,809
▲ 105%
2025
middle half of the sector
20182025
Debt
€80,013
▲ 7.8%
2025
20182025
Working capital
-€19,415
▲ 56.3%
2025
lowest quarter of the sector
20182025
Solvency
4.5%
▲ 86.2pp
2025
lowest quarter of the sector
20182025
Current ratio
0.74
▲ 0.38
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
44.3%
▲ 48.6pp
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
Operating result-€31,848-€7,129€33,854▲ 375%€41,974▲ 24.0%€2,275▼ 94.6%-€11,914€6,085€53,233▲ 775%
Net result-€32,309-€5,231€32,238above the sector's middle half▲ 516%€32,634above the sector's middle half▲ 1.2%-€1,645within the sector's middle half-€16,908below the sector's middle half▼ 928%-€1,724within the sector's middle half▲ 89.8%€37,165above the sector's middle half
Equity-€83,195--€77,963▲ 6.3%-€45,725below the sector's middle half▲ 41.4%-€13,091below the sector's middle half▲ 71.4%-€14,736below the sector's middle half▼ 12.6%-€31,645below the sector's middle half▼ 115%-€33,369below the sector's middle half▼ 5.4%€3,796below the sector's middle half
Total assets€34,922-€43,348▲ 24.1%€36,789below the sector's middle half▼ 15.1%€50,413below the sector's middle half▲ 37.0%€58,663below the sector's middle half▲ 16.4%€41,187below the sector's middle half▼ 29.8%€40,882below the sector's middle half▼ 0.7%€83,809within the sector's middle half▲ 105%
Debt€118,117-€121,311▲ 2.7%€82,515▼ 32.0%€63,504▼ 23.0%€73,399▲ 15.6%€72,832▼ 0.8%€74,251▲ 1.9%€80,013▲ 7.8%
Working capital-€108,240--€107,808▲ 0.4%-€68,932below the sector's middle half▲ 36.1%-€30,699below the sector's middle half▲ 55.5%-€26,827below the sector's middle half▲ 12.6%-€41,794below the sector's middle half▼ 55.8%-€44,425below the sector's middle half▼ 6.3%-€19,415below the sector's middle half▲ 56.3%
Solvency-238.2%--179.9%▲ 58.4pp-124.3%below the sector's middle half▲ 55.6pp-26.0%below the sector's middle half▲ 98.3pp-25.1%below the sector's middle half▲ 0.8pp-76.8%below the sector's middle half▼ 51.7pp-81.6%below the sector's middle half▼ 4.8pp4.5%below the sector's middle half▲ 86.2pp
Current ratio0.06-0.08▲ 0.030.12below the sector's middle half▲ 0.040.48below the sector's middle half▲ 0.360.61below the sector's middle half▲ 0.130.38below the sector's middle half▼ 0.230.36below the sector's middle half▼ 0.030.74below the sector's middle half▲ 0.38
Return on assets (ROA)-92.5%-12.1%▲ 104.6pp87.6%above the sector's middle half▲ 75.6pp64.7%above the sector's middle half▼ 22.9pp-2.8%within the sector's middle half▼ 67.5pp-41.1%below the sector's middle half▼ 38.2pp-4.2%within the sector's middle half▲ 36.8pp44.3%above the sector's middle half▲ 48.6pp
above
within
below
The sector band is the middle half of the companies in Manufacture of furniture (NACE 31). 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 over 8.7 times that of 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €83,809
Fixed assets
€28,519 ▲ 74.3%
Current assets
€55,290 ▲ 126%
Equity and liabilities €83,809
Equity
€3,796
Debt
€80,013
Debt's share of the balance-sheet total is 95.5%.
Key figures and ratios
EBITDA
€58,290▲
2024 · €9,955
Cash flow
€42,222▲
2024 · €2,146
Debt to equity
21.08
ROE
979.1%
Interest coverage
23.01▲
2024 · 4.00
Debt ≤ 1 year
€74,705▲
2024 · €68,943
Income taxes
€13,536▲
2024 · €5,803
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €8,829 | €2,900 | €2,647 | €4,777 | €17,212 |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €8,913 | €8,046 | €4,216 | €3,870 | €5,057 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,640 | €9,907 | €9,612 | €8,913 | €8,046 | €4,216 | €3,870 | €5,057 | ▲ 30.7% |
| Other operating charges640/8 | - | - | - | - | - | €121 | €177 | €650 | ▲ 268% |
| Non-recurring operating charges66A | - | - | - | €683 | €0 | - | - | - | - |
| Gross operating margin9900 | -€24,208 | €17,036 | €43,466 | €51,570 | €10,321 | -€7,577 | €10,132 | €58,940 | ▲ 482% |
| Operating profit (loss)9901 | -€31,848 | €7,129 | €33,854 | €41,974 | €2,275 | -€11,914 | €6,085 | €53,233 | ▲ 775% |
| Financial income75/76B | - | - | - | €2 | €0 | €291 | €486 | €0 | ▼ 100.0% |
| Recurring financial income75 | €0 | - | €0 | €2 | €0 | €291 | €486 | €0 | ▼ 100.0% |
| Financial charges65/66B | - | - | - | €1,034 | €2,599 | €2,822 | €2,492 | €2,533 | ▲ 1.6% |
| Recurring financial charges65 | €461 | €1,898 | €912 | €1,034 | €2,599 | €2,822 | €2,492 | €2,533 | ▲ 1.6% |
| Profit (loss) for the period before taxes9903 | -€32,309 | €5,231 | €32,942 | €40,942 | -€324 | -€14,444 | €4,079 | €50,700 | ▲ 12× |
| Income taxes67/77 | - | - | €704 | €8,307 | €1,321 | €2,464 | €5,803 | €13,536 | ▲ 133% |
| Profit (loss) for the period9904 | -€32,309 | €5,231 | €32,238 | €32,634 | -€1,645 | -€16,908 | -€1,724 | €37,165 | - |
| Profit (loss) for the period to be appropriated9905 | -€32,309 | €5,231 | €32,238 | €32,634 | -€1,645 | -€16,908 | -€1,724 | €37,165 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €34,922 | €43,348 | €36,789 | €50,413 | €58,663 | €41,187 | €40,882 | €83,809 | ▲ 105% |
| Fixed assets21/28 | €28,494 | €33,664 | €27,399 | €22,172 | €17,027 | €15,458 | €16,365 | €28,519 | ▲ 74.3% |
| Tangible fixed assets22/27 | €28,062 | €33,232 | €26,967 | €21,740 | €16,595 | €15,026 | €15,933 | €28,087 | ▲ 76.3% |
| Land and buildings22 | - | - | - | €9,761 | €8,090 | €6,419 | €4,748 | €14,676 | ▲ 209% |
| Plant, machinery and equipment23 | - | - | - | €2,027 | €1,022 | €2,641 | €3,702 | €6,336 | ▲ 71.1% |
| Furniture and vehicles24 | - | - | - | €9,953 | €7,483 | €5,965 | €7,483 | €7,076 | ▼ 5.4% |
| Financial fixed assets28 | €432 | €432 | €432 | €432 | €432 | €432 | €432 | €432 | = |
| Current assets29/58 | €6,429 | €9,684 | €9,390 | €28,241 | €41,636 | €25,730 | €24,518 | €55,290 | ▲ 126% |
| Amounts receivable within one year40/41 | €4,766 | - | €538 | €4,377 | €21,275 | €11,367 | €13,365 | €45,890 | ▲ 243% |
| Trade receivables40 | - | - | - | €185 | €7,260 | €2,790 | €1,036 | €45,890 | ▲ 44× |
| Other amounts receivable41 | - | - | - | €4,193 | €14,015 | €8,577 | €12,328 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €1,662 | €9,684 | €8,852 | €23,317 | €16,230 | €10,967 | €7,791 | €5,972 | ▼ 23.3% |
| Deferred charges and accrued income490/1 | - | - | - | €547 | €4,131 | €3,395 | €3,362 | €3,428 | ▲ 1.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €34,922 | €43,348 | €36,789 | €50,413 | €58,663 | €41,187 | €40,882 | €83,809 | ▲ 105% |
| Equity10/15 | -€83,195 | -€77,963 | -€45,725 | -€13,091 | -€14,736 | -€31,645 | -€33,369 | €3,796 | - |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Contributions outside capital11 | - | - | - | €12,400 | - | - | - | - | - |
| Other1109/19 | - | - | - | €12,400 | - | - | - | - | - |
| Profit (loss) carried forward14 | -€95,595 | -€90,363 | -€58,125 | -€25,491 | -€27,136 | -€44,045 | -€45,769 | -€8,604 | ▲ 81.2% |
| Amounts payable17/49 | €118,117 | €121,311 | €82,515 | €63,504 | €73,399 | €72,832 | €74,251 | €80,013 | ▲ 7.8% |
| Amounts payable within one year42/48 | €114,669 | €117,492 | €78,323 | €58,940 | €68,463 | €67,524 | €68,943 | €74,705 | ▲ 8.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €49,785 | €55,785 | €55,785 | €55,785 | €35,180 | ▼ 36.9% |
| Trade debts44 | €611 | €3,761 | €5,218 | €3,039 | €6,395 | €5,669 | €4,450 | €16,974 | ▲ 281% |
| Suppliers440/4 | - | - | - | €3,039 | €6,395 | €5,669 | €4,450 | €16,974 | ▲ 281% |
| Taxes, remuneration and social security45 | - | - | - | €6,116 | €6,283 | €6,070 | €8,707 | €22,551 | ▲ 159% |
| Taxes450/3 | - | - | - | €6,116 | €6,283 | €6,070 | €8,707 | €22,551 | ▲ 159% |
| Accrued charges and deferred income492/3 | - | - | - | €4,564 | €4,936 | €5,308 | €5,308 | €5,308 | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€32,309 | €5,231 | €32,238 | €32,634 | -€1,645 | -€16,908 | -€1,724 | €37,165 | - |
| + Depreciation and write-downs630 | €7,640 | €9,907 | €9,612 | €8,913 | €8,046 | €4,216 | €3,870 | €5,057 | ▲ 30.7% |
| Operating cash flow (approximation) | -€24,669 | €15,139 | €41,850 | €41,547 | €6,401 | -€12,692 | €2,146 | €42,222 | ▲ 20× |
| Investment in fixed assets (approximation) | - | -€15,078 | -€3,346 | -€3,686 | -€2,900 | -€2,647 | -€4,777 | -€17,212 | ▼ 260% |
| Change in cash | - | €8,022 | -€832 | €14,465 | -€7,087 | -€5,263 | -€3,176 | -€1,818 | ▲ 42.8% |
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, 1,325 companies had the same profile as ARCHIDEE has now. Two years later, 95.2% were still going and 1.4% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
95.2%
was still going
3.2%
stopped otherwise
1.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ARCHIDEE itself: 0.7% 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 1,325 companies, not a prediction for ARCHIDEE. 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 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 06-07-2026 | 2026-00264623 | |
| 31-12-2024 | micro format | 06-06-2025 | 2025-00126248 | |
| 31-12-2023 | micro format | 10-07-2024 | 2024-00237300 | |
| 31-12-2022 | micro format | 08-06-2023 | 2023-00117408 | |
| 31-12-2021 | micro format | 07-06-2022 | 2022-20054567 | |
| 31-12-2020 | micro format | 12-07-2021 | 2021-34500318 | |
| 31-12-2019 | micro format | 02-06-2020 | 2020-14000337 | |
| 31-12-2018 | micro format | 28-06-2019 | 2019-25600365 | |
| 31-12-2017 | micro format | 31-07-2018 | 2018-41900106 | |
| 31-12-2016 | micro format | 30-06-2017 | 2017-25400193 |