ASKESIS
ActiveFinancials · financial year 2025, abbreviated format
2025 annual accounts filed 38 days after the deadline Filed on 7 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00506134.
Annual accounts 2025 filed on 07-09-2026 at the NBB all 45 filings
Turnover
€196,255▼ 0.7%
2020 · €197,644
EBIT margin
12.5%▲ 5.7pp
2020 · 6.8%
Net result
€22,211▼ 63.3%
2024 · €60,450
Working capital
€58,755▲ 89.2%
2024 · €31,051
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
€30,770
▼ 61.9%
2025
20182025
Net result
€22,211
▼ 63.3%
2025
20182025
EBIT margin
no figure
2025
20182025
Equity
€68,593
▲ 47.9%
2025
20182025
Total assets
€69,917
▼ 23.0%
2025
20182025
Debt
€1,324
▼ 97.0%
2025
20182025
Working capital
€58,755
▲ 89.2%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€218,340-€222,922▲ 2.1%€197,644▼ 11.3%€196,255▼ 0.7%
Operating result€19,675-€14,772▼ 24.9%€13,385▼ 9.4%€24,490▲ 83.0%€18,209▼ 25.6%€20,658▲ 13.5%€80,690▲ 291%€30,770▼ 61.9%
Net result€3,887-€11,522▲ 196%€3,809▼ 66.9%€24,186▲ 535%€8,487▼ 64.9%€14,503▲ 70.9%€60,450▲ 317%€22,211▼ 63.3%
EBIT margin9.0%-6.6%▼ 2.4pp6.8%▲ 0.1pp12.5%▲ 5.7pp
Equity€74,504-€80,625▲ 8.2%€77,234▼ 4.2%€101,420▲ 31.3%€90,484▼ 10.8%€104,988▲ 16.0%€46,383▼ 55.8%€68,593▲ 47.9%
Total assets€95,499-€99,156▲ 3.8%€94,960▼ 4.2%€128,399▲ 35.2%€119,392▼ 7.0%€117,143▼ 1.9%€90,834▼ 22.5%€69,917▼ 23.0%
Debt€20,995-€18,531▼ 11.7%€17,725▼ 4.3%€26,979▲ 52.2%€28,908▲ 7.1%€12,155▼ 58.0%€44,452▲ 266%€1,324▼ 97.0%
Working capital€12,397-€32,947▲ 166%€44,684▲ 35.6%€53,491▲ 19.7%€30,115▼ 43.7%€69,071▲ 129%€31,051▼ 55.0%€58,755▲ 89.2%
The operating result for 2025 is 62% lower than in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €69,917
Fixed assets
€9,838 ▼ 35.8%
Current assets
€60,080 ▼ 20.4%
Equity and liabilities €69,917
Equity
€68,593 ▲ 47.9%
Debt
€1,324 ▼ 97.0%
Debt's share of the balance-sheet total falls from 48.9% to 1.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€42,086▼
2024 · €101,275
Cash flow
€33,526▼
2024 · €81,035
Current ratio
45.36▲
2024 · 1.70
Debt to equity
0.02▼
2024 · 0.96
ROE
32.4%▼
2024 · 130.3%
ROA
31.8%▼
2024 · 66.6%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€1,324▼
2024 · €44,452
Income taxes
€8,415▼
2024 · €20,686
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 | €36,519 | €39,602 | €1,199 | - | €5,821 |
| Depreciation and write-downs of the year | €21,140 | €27,162 | €25,652 | €20,585 | €11,316 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €218,340 | €222,922 | €197,644 | €196,255 | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €164,476 | - | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €70 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €25,065 | €25,661 | €20,503 | €21,140 | €27,162 | €25,652 | €20,585 | €11,316 | ▼ 45.0% |
| Other operating charges640/8 | - | - | - | €761 | €1,380 | €1,751 | €1,220 | €1,346 | ▲ 10.3% |
| Non-recurring operating charges66A | - | - | - | - | - | €1,960 | €1,729 | - | - |
| Gross operating margin9900 | €45,639 | €40,838 | €34,422 | €46,460 | €46,750 | €50,021 | €104,224 | €43,432 | ▼ 58.3% |
| Operating profit (loss)9901 | €19,675 | €14,772 | €13,385 | €24,490 | €18,209 | €20,658 | €80,690 | €30,770 | ▼ 61.9% |
| Financial income75/76B | - | - | - | - | €89 | - | €724 | €2 | ▼ 99.7% |
| Recurring financial income75 | - | - | - | - | €89 | - | €724 | €2 | ▼ 99.7% |
| Financial charges65/66B | - | - | - | €304 | €173 | €151 | €277 | €147 | ▼ 46.7% |
| Recurring financial charges65 | €328 | €260 | €279 | €304 | €173 | €151 | €277 | €147 | ▼ 46.7% |
| Profit (loss) for the period before taxes9903 | €19,347 | €14,511 | €13,106 | €24,186 | €18,125 | €20,507 | €81,137 | €30,625 | ▼ 62.3% |
| Income taxes67/77 | €15,460 | €2,990 | €9,297 | - | €9,638 | €6,003 | €20,686 | €8,415 | ▼ 59.3% |
| Profit (loss) for the period9904 | €3,887 | €11,522 | €3,809 | €24,186 | €8,487 | €14,503 | €60,450 | €22,211 | ▼ 63.3% |
| Profit (loss) for the period to be appropriated9905 | €3,887 | €11,522 | €3,809 | €24,186 | €8,487 | €14,503 | €60,450 | €22,211 | ▼ 63.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €95,499 | €99,156 | €94,960 | €128,399 | €119,392 | €117,143 | €90,834 | €69,917 | ▼ 23.0% |
| Fixed assets21/28 | €62,106 | €47,679 | €32,551 | €47,929 | €60,370 | €35,917 | €15,332 | €9,838 | ▼ 35.8% |
| Tangible fixed assets22/27 | €61,943 | €47,515 | €32,387 | €47,766 | €60,206 | €35,753 | €15,168 | €9,674 | ▼ 36.2% |
| Plant, machinery and equipment23 | - | - | - | €16,332 | €23,526 | €13,968 | €9,154 | €9,674 | ▲ 5.7% |
| Furniture and vehicles24 | - | - | - | €31,434 | €36,680 | €21,785 | €6,015 | - | - |
| Financial fixed assets28 | €164 | €164 | €164 | €164 | €164 | €164 | €164 | €164 | = |
| Current assets29/58 | €33,392 | €51,478 | €62,409 | €80,470 | €59,023 | €81,226 | €75,502 | €60,080 | ▼ 20.4% |
| Amounts receivable within one year40/41 | €20,127 | €34,931 | €17,000 | €29,045 | €24,270 | €19,898 | €36,054 | €27,022 | ▼ 25.1% |
| Trade receivables40 | - | - | - | €5,045 | €3,480 | €1,373 | €14,278 | - | - |
| Other amounts receivable41 | - | - | - | €24,000 | €20,789 | €18,525 | €21,776 | €27,022 | ▲ 24.1% |
| Cash at bank and in hand54/58 | €11,948 | €15,768 | €43,133 | €49,946 | €33,274 | €61,067 | €37,708 | €31,500 | ▼ 16.5% |
| Deferred charges and accrued income490/1 | - | - | - | €1,479 | €1,479 | €261 | €1,741 | €1,558 | ▼ 10.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €95,499 | €99,156 | €94,960 | €128,399 | €119,392 | €117,143 | €90,834 | €69,917 | ▼ 23.0% |
| Equity10/15 | €74,504 | €80,625 | €77,234 | €101,420 | €90,484 | €104,988 | €46,383 | €68,593 | ▲ 47.9% |
| Contributions10/11 | €57,000 | €57,000 | €57,000 | €57,000 | €57,000 | €57,000 | - | - | - |
| Capital10 | - | - | - | €57,000 | €57,000 | €57,000 | - | - | - |
| Issued capital100 | - | - | - | €57,000 | €57,000 | €57,000 | - | - | - |
| Reserves13 | €7,570 | €17,504 | €23,625 | €23,625 | €33,484 | €33,484 | - | - | - |
| Non-distributable reserves130/1 | - | - | - | €5,700 | €5,700 | €5,700 | - | - | - |
| Legal reserve130 | - | - | - | €5,700 | €5,700 | €5,700 | - | - | - |
| Distributable reserves133 | - | - | - | €17,925 | €27,784 | €27,784 | - | - | - |
| Profit (loss) carried forward14 | €9,933 | €6,122 | -€3,391 | €20,795 | - | €14,503 | €46,383 | €68,593 | ▲ 47.9% |
| Amounts payable17/49 | €20,995 | €18,531 | €17,725 | €26,979 | €28,908 | €12,155 | €44,452 | €1,324 | ▼ 97.0% |
| Amounts payable within one year42/48 | €20,995 | €18,531 | €17,725 | €26,979 | €28,908 | €12,155 | €44,452 | €1,324 | ▼ 97.0% |
| Trade debts44 | - | - | - | - | - | €195 | €1,694 | - | - |
| Suppliers440/4 | - | - | - | - | - | €195 | €1,694 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €4,200 | €5,700 | €9,200 | €22,758 | €1,324 | ▼ 94.2% |
| Taxes450/3 | - | - | - | €4,200 | €5,700 | €5,700 | €10,686 | €1,324 | ▼ 87.6% |
| Remuneration and social security454/9 | - | - | - | - | - | €3,500 | €12,071 | - | - |
| Other amounts payable47/48 | - | - | - | €22,779 | €23,208 | €2,760 | €20,000 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,887 | €11,522 | €3,809 | €24,186 | €8,487 | €14,503 | €60,450 | €22,211 | ▼ 63.3% |
| + Depreciation and write-downs630 | €25,065 | €25,661 | €20,503 | €21,140 | €27,162 | €25,652 | €20,585 | €11,316 | ▼ 45.0% |
| Operating cash flow (approximation) | €28,952 | €37,183 | €24,313 | €45,326 | €35,648 | €40,155 | €81,035 | €33,526 | ▼ 58.6% |
| Investment in fixed assets (approximation) | - | -€11,233 | -€5,375 | -€36,519 | -€39,602 | -€1,199 | €0 | -€5,821 | - |
| Change in cash | - | €3,819 | €27,365 | €6,813 | -€16,672 | €27,793 | -€23,359 | -€6,208 | ▲ 73.4% |
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, 31,368 companies had the same profile as ASKESIS has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ASKESIS itself: 0.1% 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 31,368 companies, not a prediction for ASKESIS. 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 45 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 07-09-2026 | 2026-00506134 | |
| 31-12-2024 | micro format | 15-01-2026 | 2026-00008900 | |
| 31-12-2023 | micro format | 04-12-2024 | 2024-00610799 | |
| 31-12-2022 | micro format | 31-12-2023 | 2023-00540516 | |
| 31-12-2021 | full format | 12-04-2023 | 2023-00060745 | |
| 31-12-2020 | full format | 23-07-2021 | 2021-40200301 | |
| 31-12-2019 | full format | 30-07-2020 | 2020-37900161 | |
| 31-12-2018 | full format | 17-07-2019 | 2019-34600159 | |
| 31-12-2017 | full format | 26-07-2018 | 2018-39400155 | |
| 31-12-2016 | full format | 28-08-2017 | 2017-55000176 |