BABBELO
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 16-06-2026 at the NBB all 29 filings
Amounts without an identifiable currency are taken as euros.
Equity
-€22,924▼ 91.9%
2024 · -€11,943
Total assets
€8,663▼ 55.9%
2024 · €19,627
Net result
-€10,981▼ 56.7%
2024 · -€7,007
Working capital
-€25,081▼ 57.6%
2024 · -€15,913
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€9,822
▼ 44.4%
2025
20182025
Net result
-€10,981
▼ 56.7%
2025
lowest quarter of the sector
20182025
Equity
-€22,924
▼ 91.9%
2025
lowest quarter of the sector
20182025
Total assets
€8,663
▼ 55.9%
2025
lowest quarter of the sector
20182025
Debt
€31,588
▲ 0.1%
2025
20182025
Working capital
-€25,081
▼ 57.6%
2025
lowest quarter of the sector
20182025
Solvency
-264.6%
▼ 203.8pp
2025
lowest quarter of the sector
20182025
Current ratio
0.21
▼ 0.29
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
-126.8%
▼ 91.1pp
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-€10,923--€7,924▲ 27.5%-€29,325▼ 270%-€33,600▼ 14.6%-€21,549▲ 35.9%-€32,952▼ 52.9%-€6,804▲ 79.4%-€9,822▼ 44.4%
Net result-€11,852--€8,826▲ 25.5%-€29,650below the sector's middle half▼ 236%-€33,912below the sector's middle half▼ 14.4%-€21,849below the sector's middle half▲ 35.6%-€33,234below the sector's middle half▼ 52.1%-€7,007below the sector's middle half▲ 78.9%-€10,981below the sector's middle half▼ 56.7%
Equity€116,342-€107,516▼ 7.6%€84,058within the sector's middle half▼ 21.8%€50,147within the sector's middle half▼ 40.3%€28,297within the sector's middle half▼ 43.6%-€4,937below the sector's middle half-€11,943below the sector's middle half▼ 142%-€22,924below the sector's middle half▼ 91.9%
Total assets€146,223-€127,257▼ 13.0%€103,824within the sector's middle half▼ 18.4%€71,798within the sector's middle half▼ 30.8%€51,038below the sector's middle half▼ 28.9%€23,953below the sector's middle half▼ 53.1%€19,627below the sector's middle half▼ 18.1%€8,663below the sector's middle half▼ 55.9%
Debt€29,881-€19,741▼ 33.9%€19,766▲ 0.1%€21,652▲ 9.5%€22,740▲ 5.0%€28,889▲ 27.0%€31,570▲ 9.3%€31,588▲ 0.1%
Working capital€97,138-€92,073▼ 5.2%€68,389within the sector's middle half▼ 25.7%€37,431within the sector's middle half▼ 45.3%€19,290within the sector's middle half▼ 48.5%-€11,425below the sector's middle half-€15,913below the sector's middle half▼ 39.3%-€25,081below the sector's middle half▼ 57.6%
Solvency79.6%-84.5%▲ 4.9pp81.0%above the sector's middle half▼ 3.5pp69.8%above the sector's middle half▼ 11.1pp55.4%within the sector's middle half▼ 14.4pp-20.6%below the sector's middle half▼ 76.1pp-60.9%below the sector's middle half▼ 40.2pp-264.6%below the sector's middle half▼ 203.8pp
Current ratio4.25-5.66▲ 1.414.46above the sector's middle half▼ 1.202.73within the sector's middle half▼ 1.731.85within the sector's middle half▼ 0.880.60below the sector's middle half▼ 1.240.50below the sector's middle half▼ 0.110.21below the sector's middle half▼ 0.29
Return on assets (ROA)-8.1%--6.9%▲ 1.2pp-28.6%below the sector's middle half▼ 21.6pp-47.2%below the sector's middle half▼ 18.7pp-42.8%below the sector's middle half▲ 4.4pp-138.7%below the sector's middle half▼ 95.9pp-35.7%below the sector's middle half▲ 103.0pp-126.8%below the sector's middle half▼ 91.1pp
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). 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 €9,822, larger than the loss of €6,804 in 2024.
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 €8,663
Fixed assets
€2,157 ▼ 45.7%
Current assets
€6,507 ▼ 58.4%
Equity and liabilities
Equity-€22,924
Debt€31,588
Equity is negative. Debt (€31,588) exceeds the balance-sheet total (€8,663).
Key figures and ratios
EBITDA
-€7,370▼
2024 · -€4,285
Cash flow
-€8,529▼
2024 · -€4,487
Quick ratio
0.03▼
2024 · 0.25
Interest coverage
-17.55▲
2024 · -32.86
Debt ≤ 1 year
€31,588▲
2024 · €31,570
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 | €713 | - | - | €5,817 | €639 |
| Depreciation and write-downs of the year | €3,667 | €3,708 | €2,519 | €2,519 | €2,452 |
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 | - | - | - | €0 | - | €1 | €2 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,912 | €3,762 | €3,584 | €3,667 | €3,708 | €2,519 | €2,519 | €2,452 | ▼ 2.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €15,365 | - | €6,258 | -€6,258 | - | - |
| Other operating charges640/8 | - | - | - | €958 | €1,051 | €1,251 | €1,445 | €414 | ▼ 71.4% |
| Non-recurring operating charges66A | - | - | - | €1 | - | €62 | - | - | - |
| Gross operating margin9900 | -€990 | -€3,424 | -€9,029 | -€13,610 | -€16,790 | -€22,862 | -€9,097 | -€6,956 | ▲ 23.5% |
| Operating profit (loss)9901 | -€10,923 | -€7,924 | -€29,325 | -€33,600 | -€21,549 | -€32,952 | -€6,804 | -€9,822 | ▼ 44.4% |
| Financial income75/76B | - | - | - | - | €0 | €0 | - | - | - |
| Recurring financial income75 | €13 | €2 | €0 | - | €0 | €0 | - | - | - |
| Financial charges65/66B | - | - | - | €311 | €300 | €282 | €203 | €1,160 | ▲ 472% |
| Recurring financial charges65 | €942 | €903 | €325 | €311 | €300 | €282 | €130 | €420 | ▲ 222% |
| Non-recurring financial charges66B | - | - | - | - | - | - | €72 | €740 | ▲ 923% |
| Profit (loss) for the period before taxes9903 | -€11,852 | -€8,826 | -€29,650 | -€33,912 | -€21,849 | -€33,234 | -€7,007 | -€10,981 | ▼ 56.7% |
| Profit (loss) for the period9904 | -€11,852 | -€8,826 | -€29,650 | -€33,912 | -€21,849 | -€33,234 | -€7,007 | -€10,981 | ▼ 56.7% |
| Profit (loss) for the period to be appropriated9905 | -€11,852 | -€8,826 | -€29,650 | -€33,912 | -€21,849 | -€33,234 | -€7,007 | -€10,981 | ▼ 56.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €146,223 | €127,257 | €103,824 | €71,798 | €51,038 | €23,953 | €19,627 | €8,663 | ▼ 55.9% |
| Fixed assets21/28 | €19,204 | €15,443 | €15,670 | €12,716 | €9,008 | €6,489 | €3,970 | €2,157 | ▼ 45.7% |
| Tangible fixed assets22/27 | €19,204 | €15,443 | €15,670 | €12,716 | €9,008 | €6,489 | €3,970 | €2,157 | ▼ 45.7% |
| Land and buildings22 | - | - | - | €2,080 | €1,531 | €982 | €433 | - | - |
| Plant, machinery and equipment23 | - | - | - | €665 | €522 | €379 | €237 | €685 | ▲ 189% |
| Furniture and vehicles24 | - | - | - | €355 | - | - | - | - | - |
| Other tangible fixed assets26 | - | - | - | €9,616 | €6,955 | €5,127 | €3,299 | €1,472 | ▼ 55.4% |
| Current assets29/58 | €127,019 | €111,815 | €88,155 | €59,083 | €42,030 | €17,464 | €15,657 | €6,507 | ▼ 58.4% |
| Stocks and contracts in progress3 | €122,579 | €99,978 | €76,868 | €47,507 | €38,417 | €11,894 | €7,762 | €5,598 | ▼ 27.9% |
| Stocks30/36 | - | - | - | €47,507 | €38,417 | €11,894 | €7,762 | €5,598 | ▼ 27.9% |
| Amounts receivable within one year40/41 | €1,190 | - | - | - | €469 | €31 | - | - | - |
| Other amounts receivable41 | - | - | - | - | €469 | €31 | - | - | - |
| Cash at bank and in hand54/58 | €1,812 | €10,874 | €11,062 | €10,919 | €2,422 | €4,800 | €7,156 | €869 | ▼ 87.8% |
| Deferred charges and accrued income490/1 | - | - | - | €657 | €722 | €740 | €740 | €39 | ▼ 94.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €146,223 | €127,257 | €103,824 | €71,798 | €51,038 | €23,953 | €19,627 | €8,663 | ▼ 55.9% |
| Equity10/15 | €116,342 | €107,516 | €84,058 | €50,147 | €28,297 | -€4,937 | -€11,943 | -€22,924 | ▼ 91.9% |
| Contributions10/11 | €12,400 | €12,400 | - | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,859 | €1,859 | - | - | - | - |
| Distributable reserves133 | - | - | - | - | - | €1,859 | €1,859 | €1,859 | = |
| Profit (loss) carried forward14 | €102,083 | €93,257 | €63,607 | €29,695 | €7,846 | -€25,388 | -€32,394 | -€43,375 | ▼ 33.9% |
| Amounts payable17/49 | €29,881 | €19,741 | €19,766 | €21,652 | €22,740 | €28,889 | €31,570 | €31,588 | ▲ 0.1% |
| Amounts payable within one year42/48 | €29,881 | €19,741 | €19,766 | €21,652 | €22,740 | €28,889 | €31,570 | €31,588 | ▲ 0.1% |
| Trade debts44 | €8,622 | €1,075 | €1,159 | €289 | €508 | €1,109 | €1,800 | €2,000 | ▲ 11.1% |
| Suppliers440/4 | - | - | - | €289 | €508 | €1,109 | €1,800 | €2,000 | ▲ 11.1% |
| Taxes, remuneration and social security45 | - | - | - | €803 | - | €1,043 | €196 | €339 | ▲ 72.9% |
| Taxes450/3 | - | - | - | €803 | - | €1,043 | €196 | €339 | ▲ 72.9% |
| Other amounts payable47/48 | - | - | - | €20,561 | €22,232 | €26,737 | €29,574 | €29,248 | ▼ 1.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€11,852 | -€8,826 | -€29,650 | -€33,912 | -€21,849 | -€33,234 | -€7,007 | -€10,981 | ▼ 56.7% |
| + Depreciation and write-downs630 | €8,912 | €3,762 | €3,584 | €3,667 | €3,708 | €2,519 | €2,519 | €2,452 | ▼ 2.7% |
| Operating cash flow (approximation) | -€2,940 | -€5,064 | -€26,066 | -€30,245 | -€18,141 | -€30,715 | -€4,487 | -€8,529 | ▼ 90.1% |
| Investment in fixed assets (approximation) | - | €0 | -€3,811 | -€713 | €0 | €0 | €0 | -€639 | - |
| Change in cash | - | €9,062 | €188 | -€143 | -€8,497 | €2,378 | €2,356 | -€6,286 | - |
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 BABBELO 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 BABBELO itself: 1.4% 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 6,619 companies, not a prediction for BABBELO. 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 29 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 16-06-2026 | 2026-00167035 | |
| 31-12-2024 | micro format | 17-06-2025 | 2025-00145540 | |
| 31-12-2023 | micro format | 07-06-2024 | 2024-00115780 | |
| 31-12-2022 | micro format | 05-05-2023 | 2023-00080923 | |
| 31-12-2021 | micro format | 06-05-2022 | 2022-20022117 | |
| 31-12-2020 | micro format | 12-05-2021 | 2021-14100052 | |
| 31-12-2019 | micro format | 15-05-2020 | 2020-12200230 | |
| 31-12-2018 | micro format | 15-05-2019 | 2019-13100386 | |
| 31-12-2017 | micro format | 08-05-2018 | 2018-12300398 | |
| 31-12-2016 | micro format | 19-05-2017 | 2017-12600264 |