AUM Labarque
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 13-07-2026 at the NBB all 25 filings
Equity
-€20,093
2024 · €30,466
Total assets
€97,948▼ 5.1%
2024 · €103,166
Net result
-€50,559▼ 15.8%
2024 · -€43,671
Working capital
-€107,850▼ 76.2%
2024 · -€61,213
In the rankings
#7 oldest company in Kluisbergen, Manufacturing sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€50,481
▼ 15.4%
2025
20182025
Net result
-€50,559
▼ 15.8%
2025
lowest quarter of the sector
20182025
Equity
-€20,093
2025
lowest quarter of the sector
20182025
Total assets
€97,948
▼ 5.1%
2025
middle half of the sector
20182025
Debt
€118,041
▲ 62.4%
2025
20182025
Working capital
-€107,850
▼ 76.2%
2025
lowest quarter of the sector
20182025
Solvency
-20.5%
▼ 50.0pp
2025
lowest quarter of the sector
20182025
Current ratio
0.09
▼ 0.07
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
-51.6%
▼ 9.3pp
2025
lowest 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€20,237-€70,303▲ 247%-€31,397-€16,282▲ 48.1%-€6,401▲ 60.7%-€18,107▼ 183%-€43,728▼ 141%-€50,481▼ 15.4%
Net result€18,357-€68,852▲ 275%-€32,223below the sector's middle half-€28,548below the sector's middle half▲ 11.4%-€5,902below the sector's middle half▲ 79.3%-€18,152below the sector's middle half▼ 208%-€43,671below the sector's middle half▼ 141%-€50,559below the sector's middle half▼ 15.8%
Equity€90,110-€158,962▲ 76.4%€126,739above the sector's middle half▼ 20.3%€98,191within the sector's middle half▼ 22.5%€92,289within the sector's middle half▼ 6.0%€74,137within the sector's middle half▼ 19.7%€30,466within the sector's middle half▼ 58.9%-€20,093below the sector's middle half
Total assets€112,437-€200,099▲ 78.0%€152,703within the sector's middle half▼ 23.7%€112,980within the sector's middle half▼ 26.0%€115,482within the sector's middle half▲ 2.2%€86,919within the sector's middle half▼ 24.7%€103,166within the sector's middle half▲ 18.7%€97,948within the sector's middle half▼ 5.1%
Debt€22,327-€41,137▲ 84.2%€25,964▼ 36.9%€14,789▼ 43.0%€23,193▲ 56.8%€12,782▼ 44.9%€72,700▲ 469%€118,041▲ 62.4%
Working capital€21,210-€40,165▲ 89.4%€33,583within the sector's middle half▼ 16.4%€9,895within the sector's middle half▼ 70.5%€6,925within the sector's middle half▼ 30.0%-€5,019within the sector's middle half-€61,213below the sector's middle half▼ 1,120%-€107,850below the sector's middle half▼ 76.2%
Solvency80.1%-79.4%▼ 0.7pp83.0%above the sector's middle half▲ 3.6pp86.9%above the sector's middle half▲ 3.9pp79.9%above the sector's middle half▼ 7.0pp85.3%above the sector's middle half▲ 5.4pp29.5%within the sector's middle half▼ 55.8pp-20.5%below the sector's middle half▼ 50.0pp
Current ratio2.71-2.01▼ 0.703.22within the sector's middle half▲ 1.211.67within the sector's middle half▼ 1.551.30within the sector's middle half▼ 0.370.61below the sector's middle half▼ 0.690.16below the sector's middle half▼ 0.450.09below the sector's middle half▼ 0.07
Return on assets (ROA)16.3%-34.4%▲ 18.1pp-21.1%below the sector's middle half▼ 55.5pp-25.3%below the sector's middle half▼ 4.2pp-5.1%below the sector's middle half▲ 20.2pp-20.9%below the sector's middle half▼ 15.8pp-42.3%below the sector's middle half▼ 21.4pp-51.6%below the sector's middle half▼ 9.3pp
above
within
below
The sector band is the middle half of the companies in Printing and reproduction of recorded media (NACE 18). 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 a loss of €50,481, larger than the loss of €43,728 in 2024. It is the lowest result since 2018.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €97,948
Fixed assets
€87,757 ▼ 4.3%
Current assets
€10,191 ▼ 11.3%
Equity and liabilities
Equity-€20,093
Debt€118,041
Equity is negative. Debt (€118,041) exceeds the balance-sheet total (€97,948).
Key figures and ratios
EBITDA
-€41,015▼
2024 · -€30,677
Cash flow
-€41,093▼
2024 · -€30,620
Interest coverage
-330.72▼
2024 · -275.38
Debt ≤ 1 year
€118,041▲
2024 · €72,700
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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 | - | €8,943 | €2,778 | €25,574 | €26,758 |
| Depreciation and write-downs of the year | €12,525 | €11,874 | €8,987 | €13,051 | €9,466 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €3,579 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,990 | €21,119 | €17,041 | €12,525 | €11,874 | €8,987 | €13,051 | €9,466 | ▼ 27.5% |
| Other operating charges640/8 | - | - | - | €1,925 | €1,098 | €1,979 | €1,176 | €2,428 | ▲ 106% |
| Non-recurring operating charges66A | - | - | - | €1,677 | - | - | - | - | - |
| Gross operating margin9900 | €32,776 | €102,457 | -€12,439 | -€154 | €6,571 | -€7,142 | -€29,501 | -€38,587 | ▼ 30.8% |
| Operating profit (loss)9901 | €20,237 | €70,303 | -€31,397 | -€16,282 | -€6,401 | -€18,107 | -€43,728 | -€50,481 | ▼ 15.4% |
| Financial income75/76B | - | - | - | €31 | €77 | €13 | €169 | €47 | ▼ 72.4% |
| Recurring financial income75 | €28 | €1 | - | €31 | €77 | €13 | €169 | €47 | ▼ 72.4% |
| Financial charges65/66B | - | - | - | €90 | €47 | €57 | €111 | €124 | ▲ 11.3% |
| Recurring financial charges65 | €1,515 | €1,064 | €452 | €90 | €47 | €57 | €111 | €124 | ▲ 11.3% |
| Profit (loss) for the period before taxes9903 | €18,751 | €69,241 | -€31,849 | -€16,341 | -€6,370 | -€18,152 | -€43,671 | -€50,559 | ▼ 15.8% |
| Income taxes67/77 | €394 | €389 | €374 | €12,207 | -€468 | - | - | - | - |
| Profit (loss) for the period9904 | €18,357 | €68,852 | -€32,223 | -€28,548 | -€5,902 | -€18,152 | -€43,671 | -€50,559 | ▼ 15.8% |
| Profit (loss) for the period to be appropriated9905 | €18,357 | €68,852 | -€32,223 | -€28,548 | -€5,902 | -€18,152 | -€43,671 | -€50,559 | ▼ 15.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €112,437 | €200,099 | €152,703 | €112,980 | €115,482 | €86,919 | €103,166 | €97,948 | ▼ 5.1% |
| Fixed assets21/28 | €78,811 | €120,259 | €103,998 | €88,295 | €85,364 | €79,156 | €91,679 | €87,757 | ▼ 4.3% |
| Tangible fixed assets22/27 | €78,707 | €120,155 | €103,893 | €88,191 | €85,259 | €79,051 | €91,575 | €87,653 | ▼ 4.3% |
| Land and buildings22 | - | - | - | €84,650 | €77,453 | €70,947 | €65,061 | €59,735 | ▼ 8.2% |
| Plant, machinery and equipment23 | - | - | - | €3,540 | €56 | €2,143 | €1,126 | €4,016 | ▲ 257% |
| Furniture and vehicles24 | - | - | - | - | €7,750 | €5,962 | €25,387 | €23,902 | ▼ 5.9% |
| Financial fixed assets28 | €105 | €105 | €105 | €105 | €105 | €105 | €105 | €105 | = |
| Current assets29/58 | €33,626 | €79,840 | €48,705 | €24,685 | €30,118 | €7,763 | €11,487 | €10,191 | ▼ 11.3% |
| Amounts receivable within one year40/41 | €19,240 | €35,095 | €21,180 | €17,614 | €4,555 | €4,642 | €738 | €8,211 | ▲ 11× |
| Trade receivables40 | - | - | - | €13,431 | €4,391 | - | - | €1,444 | - |
| Other amounts receivable41 | - | - | - | €4,183 | €164 | €4,642 | €738 | €6,768 | ▲ 817% |
| Cash at bank and in hand54/58 | €10,257 | €43,063 | €27,000 | €5,856 | €24,332 | €2,302 | €8,971 | €409 | ▼ 95.4% |
| Deferred charges and accrued income490/1 | - | - | - | €1,215 | €1,231 | €819 | €1,778 | €1,570 | ▼ 11.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €112,437 | €200,099 | €152,703 | €112,980 | €115,482 | €86,919 | €103,166 | €97,948 | ▼ 5.1% |
| Equity10/15 | €90,110 | €158,962 | €126,739 | €98,191 | €92,289 | €74,137 | €30,466 | -€20,093 | - |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Revaluation surpluses12 | - | - | - | €5,659 | €5,659 | €5,659 | €5,659 | €5,659 | = |
| Reserves13 | €65,851 | €134,703 | €102,480 | €102,480 | €102,480 | €102,480 | €102,480 | €102,480 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €100,620 | €100,620 | €100,620 | €100,620 | €100,620 | = |
| Profit (loss) carried forward14 | - | - | - | -€28,548 | -€34,450 | -€52,602 | -€96,272 | -€146,831 | ▼ 52.5% |
| Amounts payable17/49 | €22,327 | €41,137 | €25,964 | €14,789 | €23,193 | €12,782 | €72,700 | €118,041 | ▲ 62.4% |
| Amounts payable after more than one year17 | €9,911 | €1,462 | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €12,416 | €39,675 | €15,122 | €14,789 | €23,193 | €12,782 | €72,700 | €118,041 | ▲ 62.4% |
| Trade debts44 | €1,374 | €20,925 | €873 | €631 | €3,414 | - | €1,189 | €7,079 | ▲ 496% |
| Suppliers440/4 | - | - | - | €631 | €3,414 | - | €1,189 | €7,079 | ▲ 496% |
| Taxes, remuneration and social security45 | - | - | - | €14,159 | €13,718 | €12,782 | €15,089 | €15,967 | ▲ 5.8% |
| Taxes450/3 | - | - | - | €2,189 | €1,478 | €145 | €92 | €95 | ▲ 3.3% |
| Remuneration and social security454/9 | - | - | - | €11,970 | €12,240 | €12,637 | €14,997 | €15,872 | ▲ 5.8% |
| Other amounts payable47/48 | - | - | - | - | €6,062 | - | €56,423 | €94,995 | ▲ 68.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,357 | €68,852 | -€32,223 | -€28,548 | -€5,902 | -€18,152 | -€43,671 | -€50,559 | ▼ 15.8% |
| + Depreciation and write-downs630 | €6,990 | €21,119 | €17,041 | €12,525 | €11,874 | €8,987 | €13,051 | €9,466 | ▼ 27.5% |
| Operating cash flow (approximation) | €25,347 | €89,970 | -€15,182 | -€16,023 | €5,972 | -€9,165 | -€30,620 | -€41,093 | ▼ 34.2% |
| Investment in fixed assets (approximation) | - | -€62,567 | -€780 | €3,177 | -€8,943 | -€2,778 | -€25,574 | -€5,544 | ▲ 78.3% |
| Change in cash | - | €32,806 | -€16,063 | -€21,144 | €18,475 | -€22,030 | €6,669 | -€8,561 | - |
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, 6,619 companies had the same profile as AUM Labarque has now. Two years later, 84.5% were still going and 4.5% had gone bankrupt.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
84.5%
was still going
10.0%
stopped otherwise
4.5%
went bankrupt
Another 1.0% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of AUM Labarque itself: 2.0% 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 6,619 companies, not a prediction for AUM Labarque. 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 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 13-07-2026 | 2026-00290168 | |
| 31-12-2024 | micro format | 15-07-2025 | 2025-00268878 | |
| 31-12-2023 | micro format | 15-07-2024 | 2024-00247700 | |
| 31-12-2022 | micro format | 29-06-2023 | 2023-00177608 | |
| 31-12-2021 | micro format | 27-06-2022 | 2022-20094992 | |
| 31-12-2020 | micro format | 19-07-2021 | 2021-37400033 | |
| 31-12-2019 | micro format | 16-07-2020 | 2020-30700095 | |
| 31-12-2018 | micro format | 01-07-2019 | 2019-28100411 | |
| 31-12-2017 | micro format | 23-07-2018 | 2018-36600121 | |
| 31-12-2016 | abbreviated format | 13-06-2017 | 2017-17300486 |