AUTO EXCEPTION
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 15-06-2026 PDF all 36 filings
Every figure per financial year
The operating result for 2025 is over 5.3 times that of 2024. It is a recovery after the fall in 2024.
The turnover shown is an estimate from the gross margin.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 4 | 4 | 4 | 6 | 5 |
| full-time | 2 | 2 | 2 | 2 | 2 |
| part-time | 2 | 2 | 2 | 4 | 3 |
| in full-time equivalents | 3.2 | 3.2 | 3.2 | 4.2 | 3.8 |
| Average over the year, in full-time equivalents | 3.2 | 3.4 | 3.9 | 4.2 | 3.8 |
| On a permanent contract | 3 | 3 | 3 | 4 | 4 |
| Joined | 1 | - | 1 | 3 | 0 |
| Left | 3 | - | 3 | 2 | 1 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €48,323 | €27,019 | €72,349 | €1.9m | €100,074 |
| Financial fixed assets | €380 | - | - | - | - |
| Depreciation and write-downs of the year | €99,951 | €62,208 | €94,881 | €279,115 | €179,160 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €80,948 | €88,319 | €118,087 | €138,338 | €165,183 | ▲ 19.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €78,525 | €86,303 | €97,870 | €99,951 | €62,208 | €94,881 | €279,115 | €179,160 | ▼ 35.8% |
| Other operating charges640/8 | - | - | - | €35,282 | €36,161 | €43,785 | €50,121 | €48,753 | ▼ 2.7% |
| Gross operating margin9900 | €285,460 | €258,038 | €261,312 | €304,018 | €273,995 | €441,042 | €496,551 | €547,978 | ▲ 10.4% |
| Operating profit (loss)9901 | €86,097 | €29,231 | €16,354 | €87,837 | €87,307 | €184,290 | €28,977 | €154,882 | ▲ 435% |
| Financial income75/76B | - | - | - | €18,575 | €32,682 | €3,953 | €1,260 | €62 | ▼ 95.1% |
| Recurring financial income75 | €26,728 | €29,017 | €44,652 | €18,575 | €32,682 | €3,953 | €1,260 | €62 | ▼ 95.1% |
| Financial charges65/66B | - | - | - | €38,482 | €36,178 | €43,563 | €69,834 | €76,301 | ▲ 9.3% |
| Recurring financial charges65 | €41,910 | €38,886 | €34,818 | €38,482 | €36,178 | €43,563 | €69,834 | €76,301 | ▲ 9.3% |
| Profit (loss) for the period before taxes9903 | €70,915 | €19,362 | €26,188 | €67,930 | €83,811 | €144,680 | -€39,597 | €78,643 | - |
| Transfer from deferred taxes780 | - | - | - | €11,351 | €9,892 | €9,700 | €9,504 | €9,307 | ▼ 2.1% |
| Income taxes67/77 | €35,801 | €20,089 | €21,924 | €28,924 | €43,510 | €57,522 | €2,808 | €33,039 | ▲ 12× |
| Profit (loss) for the period9904 | €45,608 | €11,279 | €16,878 | €50,358 | €50,192 | €96,858 | -€32,900 | €54,912 | - |
| Transfer from tax-exempt reserves789 | - | - | - | €22,045 | €19,210 | €18,838 | €18,458 | €18,075 | ▼ 2.1% |
| Profit (loss) for the period to be appropriated9905 | €65,987 | €34,596 | €41,374 | €72,402 | €69,402 | €115,695 | -€14,442 | €72,987 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.2m | €2.0m | €2.3m | €2.1m | €2.1m | €2.1m | €3.1m | €3.0m | ▼ 4.6% |
| Fixed assets21/28 | €0.9m | €0.9m | €1.3m | €1.3m | €1.2m | €1.2m | €2.8m | €2.7m | ▼ 2.9% |
| Intangible fixed assets21 | €230 | €0.008m | €0.01m | €0.009m | €0.006m | €0.002m | €328 | €68 | ▼ 79.2% |
| Tangible fixed assets22/27 | €0.9m | €0.9m | €1.3m | €1.2m | €1.2m | €1.2m | €2.8m | €2.7m | ▼ 2.9% |
| Land and buildings22 | - | - | - | €0.7m | €0.7m | €0.7m | €2.3m | €2.2m | ▼ 5.9% |
| Plant, machinery and equipment23 | - | - | - | €0.1m | €0.1m | €0.1m | €0.09m | €0.09m | ▲ 4.3% |
| Furniture and vehicles24 | - | - | - | €0.02m | €0.01m | €0.009m | €0.009m | €0.02m | ▲ 162% |
| Other tangible fixed assets26 | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | ▲ 8.5% |
| Assets under construction and advance payments27 | - | - | - | - | - | €0.02m | - | - | - |
| Financial fixed assets28 | €0.05m | €0.002m | €0.002m | €0.003m | €0.003m | - | - | - | - |
| Current assets29/58 | €1.2m | €1.0m | €1.0m | €0.8m | €0.8m | €0.9m | €0.3m | €0.3m | ▼ 17.7% |
| Amounts receivable after more than one year29 | - | - | - | €0.3m | €0.4m | €0.4m | - | - | - |
| Other amounts receivable291 | - | - | - | €0.3m | €0.4m | €0.4m | - | - | - |
| Stocks and contracts in progress3 | €0.03m | €0.02m | €0.02m | €0.03m | €0.02m | €0.02m | €0.02m | €0.02m | ▼ 10.2% |
| Stocks30/36 | - | - | - | €0.03m | €0.02m | €0.02m | €0.02m | €0.02m | ▼ 10.2% |
| Amounts receivable within one year40/41 | €0.4m | €0.3m | €0.3m | €0.2m | €0.1m | €0.08m | €0.1m | €0.1m | ▲ 11.8% |
| Trade receivables40 | - | - | - | €0.1m | €0.09m | €0.08m | €0.1m | €0.1m | ▲ 31.4% |
| Other amounts receivable41 | - | - | - | €0.07m | €0.03m | €0.001m | €0.02m | €0.001m | ▼ 94.5% |
| Current investments50/53 | €0.3m | €0.3m | €0.3m | €0.2m | €0.2m | €0.2m | €0.03m | €0.03m | = |
| Cash at bank and in hand54/58 | €0.2m | €0.09m | €0.05m | €0.04m | €0.02m | €0.2m | €0.2m | €0.08m | ▼ 48.3% |
| Deferred charges and accrued income490/1 | - | - | - | €0.02m | €0.01m | €0.01m | €0.02m | €0.02m | ▲ 19.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.2m | €2.0m | €2.3m | €2.1m | €2.1m | €2.1m | €3.1m | €3.0m | ▼ 4.6% |
| Equity10/15 | €0.9m | €1.0m | €0.8m | €0.9m | €0.9m | €1.0m | €1.0m | €1.0m | ▲ 5.5% |
| Contributions10/11 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Capital10 | - | - | - | €0.2m | €0.2m | €0.2m | - | - | - |
| Issued capital100 | - | - | - | €0.2m | €0.2m | €0.2m | - | - | - |
| Contributions outside capital11 | - | - | - | - | - | - | €0.2m | €0.2m | = |
| Other1109/19 | - | - | - | - | - | - | €0.2m | €0.2m | = |
| Reserves13 | €0.6m | €0.6m | €0.5m | €0.6m | €0.6m | €0.7m | €0.7m | €0.7m | ▲ 7.9% |
| Non-distributable reserves130/1 | - | - | - | €0.02m | €0.02m | €0.02m | - | - | - |
| Legal reserve130 | - | - | - | €0.02m | €0.02m | €0.02m | - | - | - |
| Tax-exempt reserves132 | - | - | - | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 8.8% |
| Distributable reserves133 | - | - | - | €0.3m | €0.3m | €0.4m | €0.5m | €0.5m | ▲ 15.2% |
| Profit (loss) carried forward14 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.08m | €0.09m | ▲ 1.2% |
| Provisions and deferred taxes16 | €0.2m | €0.2m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 8.8% |
| Deferred taxes168 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 8.8% |
| Amounts payable17/49 | €1.0m | €0.9m | €1.3m | €1.1m | €1.0m | €1.0m | €2.0m | €1.8m | ▼ 9.3% |
| Amounts payable after more than one year17 | €0.6m | €0.5m | €0.8m | €0.8m | €0.6m | €0.5m | €1.2m | €1.0m | ▼ 12.4% |
| Financial debts170/4 | - | - | - | €0.8m | €0.6m | €0.5m | €1.2m | €1.0m | ▼ 12.4% |
| Amounts payable within one year42/48 | €0.3m | €0.3m | €0.4m | €0.3m | €0.3m | €0.4m | €0.8m | €0.8m | ▼ 5.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.08m | €0.1m | €0.1m | €0.1m | €0.2m | ▲ 17.2% |
| Trade debts44 | €0.2m | €0.1m | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | €0.1m | ▼ 32.6% |
| Suppliers440/4 | - | - | - | €0.1m | €0.1m | €0.2m | €0.2m | €0.1m | ▼ 32.6% |
| Taxes, remuneration and social security45 | - | - | - | €0.05m | €0.07m | €0.1m | €0.03m | €0.04m | ▲ 35.1% |
| Taxes450/3 | - | - | - | €0.04m | €0.06m | €0.09m | €0.02m | €0.02m | ▲ 23.8% |
| Remuneration and social security454/9 | - | - | - | €0.006m | €0.008m | €0.008m | €0.01m | €0.02m | ▲ 55.0% |
| Other amounts payable47/48 | - | - | - | - | - | - | €0.4m | €0.4m | ▼ 3.3% |
| Accrued charges and deferred income492/3 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | ▲ 0.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.05m | €0.01m | €0.02m | €0.05m | €0.05m | €0.1m | -€0.03m | €0.05m | - |
| + Depreciation and write-downs630 | €0.08m | €0.09m | €0.1m | €0.1m | €0.06m | €0.09m | €0.3m | €0.2m | ▼ 35.8% |
| Operating cash flow (approximation) | €0.1m | €0.1m | €0.1m | €0.2m | €0.1m | €0.2m | €0.2m | €0.2m | ▼ 4.9% |
| Investment in fixed assets (approximation) | - | -€0.1m | -€0.5m | -€0.05m | -€0.03m | -€0.07m | -€1.9m | -€0.1m | ▲ 94.8% |
| Change in cash | - | -€0.1m | -€0.04m | -€0.009m | -€0.02m | €0.2m | -€0.02m | -€0.08m | ▼ 272% |
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, 17,041 companies had the same profile as AUTO EXCEPTION has now. Two years later, 94.3% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of AUTO EXCEPTION itself: 0.3% 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 17,041 companies, not a prediction for AUTO EXCEPTION. 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 36 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 15-06-2026 | 2026-00160210 | |
| 31-12-2024 | full format | 17-06-2025 | 2025-00143408 | |
| 31-12-2023 | full format | 23-07-2024 | 2024-00271834 | |
| 31-12-2022 | full format | 21-11-2023 | 2023-00513819 | |
| 31-12-2021 | full format | 31-08-2022 | 2022-20368960 | |
| 31-12-2020 | full format | 08-07-2021 | 2021-32300091 | |
| 31-12-2019 | full format | 25-09-2020 | 2020-55400357 | |
| 31-12-2018 | full format | 28-08-2019 | 2019-51900538 | |
| 31-12-2017 | full format | 24-07-2018 | 2018-36300348 | |
| 31-12-2016 | full format | 28-08-2017 | 2017-48000138 |