BASIDENT
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 23-06-2026 at the NBB all 17 filings
Turnover
€746,912▲ 6.0%
2024 · €704,579
EBIT margin
14.8%▲ 1.2pp
2024 · 13.5%
Net result
€73,013▲ 21.0%
2024 · €60,335
Working capital
€52,520▼ 16.0%
2024 · €62,498
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€746,912
▲ 6.0%
2025
20182025
Operating result
€110,203
▲ 15.8%
2025
20182025
Net result
€73,013
▲ 21.0%
2025
middle half of the sector
20182025
EBIT margin
14.8%
▲ 1.2pp
2025
20182025
Equity
€321,855
▲ 29.3%
2025
middle half of the sector
20182025
Total assets
€498,384
▲ 10.5%
2025
middle half of the sector
20182025
Debt
€176,529
▼ 12.7%
2025
20182025
Working capital
€52,520
▼ 16.0%
2025
middle half of the sector
20182025
Solvency
64.6%
▲ 9.4pp
2025
middle half of the sector
20182025
Current ratio
1.79
▼ 0.21
2025
middle half of the sector
20182025
Return on assets (ROA)
14.6%
▲ 1.3pp
2025
middle half of the sector
20182025
Staff (FTE)
1
=
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
Turnover€342,625-€367,764€506,001▲ 37.6%€641,471▲ 26.8%€642,724▲ 0.2%€704,579▲ 9.6%€746,912▲ 6.0%
Operating result€1,714-€5,274▲ 208%€9,821▲ 86.2%€13,803▲ 40.5%€59,264▲ 329%€96,636▲ 63.1%€95,170▼ 1.5%€110,203▲ 15.8%
Net result-€684-€1,617€5,585below the sector's middle half▲ 246%€7,593below the sector's middle half▲ 35.9%€40,097within the sector's middle half▲ 428%€66,508within the sector's middle half▲ 65.9%€60,335within the sector's middle half▼ 9.3%€73,013within the sector's middle half▲ 21.0%
EBIT margin0.5%-2.7%2.7%▲ 0.1pp9.2%▲ 6.5pp15.0%▲ 5.8pp13.5%▼ 1.5pp14.8%▲ 1.2pp
Equity€67,107-€68,724▲ 2.4%€74,309within the sector's middle half▲ 8.1%€81,902within the sector's middle half▲ 10.2%€122,000within the sector's middle half▲ 49.0%€188,508within the sector's middle half▲ 54.5%€248,843within the sector's middle half▲ 32.0%€321,855within the sector's middle half▲ 29.3%
Total assets€181,448-€152,543▼ 15.9%€151,054below the sector's middle half▼ 1.0%€121,847below the sector's middle half▼ 19.3%€163,709below the sector's middle half▲ 34.4%€338,563within the sector's middle half▲ 107%€451,097within the sector's middle half▲ 33.2%€498,384within the sector's middle half▲ 10.5%
Debt€114,341-€83,819▼ 26.7%€76,744▼ 8.4%€39,945▼ 48.0%€41,710▲ 4.4%€150,055▲ 260%€202,254▲ 34.8%€176,529▼ 12.7%
Working capital€18,813-€15,110▼ 19.7%€18,890within the sector's middle half▲ 25.0%€43,907within the sector's middle half▲ 132%€107,855within the sector's middle half▲ 146%€134,078within the sector's middle half▲ 24.3%€62,498within the sector's middle half▼ 53.4%€52,520within the sector's middle half▼ 16.0%
Solvency37.0%-45.1%▲ 8.1pp49.2%within the sector's middle half▲ 4.1pp67.2%within the sector's middle half▲ 18.0pp74.5%within the sector's middle half▲ 7.3pp55.7%within the sector's middle half▼ 18.8pp55.2%within the sector's middle half▼ 0.5pp64.6%within the sector's middle half▲ 9.4pp
Current ratio1.47-1.39▼ 0.091.32within the sector's middle half▼ 0.072.10within the sector's middle half▲ 0.783.59within the sector's middle half▲ 1.494.12within the sector's middle half▲ 0.542.00within the sector's middle half▼ 2.121.79within the sector's middle half▼ 0.21
Return on assets (ROA)-0.4%-1.1%▲ 1.4pp3.7%within the sector's middle half▲ 2.6pp6.2%within the sector's middle half▲ 2.5pp24.5%above the sector's middle half▲ 18.3pp19.6%within the sector's middle half▼ 4.8pp13.4%within the sector's middle half▼ 6.3pp14.6%within the sector's middle half▲ 1.3pp
Staff (FTE)1below the sector's middle half1below the sector's middle half=
above
within
below
The sector band is the middle half of the companies in Human health activities (NACE 86). 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 16% higher than in 2024 and the highest since 2018. It is a recovery after the fall in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €498,384
Fixed assets
€379,655 ▲ 16.4%
Current assets
€118,729 ▼ 5.0%
Equity and liabilities €498,384
Equity
€321,855 ▲ 29.3%
Debt
€176,529 ▼ 12.7%
Debt's share of the balance-sheet total falls from 44.8% to 35.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€171,744▲
2024 · €143,008
Cash flow
€134,553▲
2024 · €108,173
Debt to equity
0.55▼
2024 · 0.81
ROE
22.7%▼
2024 · 24.2%
Interest coverage
19.30▲
2024 · 17.16
Debt ≤ 1 year
€66,208▲
2024 · €62,489
Debt > 1 year
€110,321▼
2024 · €139,765
Income taxes
€28,393▲
2024 · €26,617
Customer credit
0 days▼
2024 · 0 days
Supplier credit
9 days▼
2024 · 9 days
Staff costs
€38,702▲
2024 · €37,349
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2024 | 31-12-2025 |
|---|---|---|
| Employees at the balance-sheet date | 1 | 1 |
| full-time | 1 | 1 |
| in full-time equivalents | 1 | 1 |
| Average over the year, in full-time equivalents | 1 | 1 |
| On a permanent contract | 1 | 1 |
Source: social balance sheet in the 2024 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €3,896 | €699 | €164,546 | €212,410 | €115,087 |
| Financial fixed assets | €363 | - | - | - | - |
| Depreciation and write-downs of the year | €38,789 | €24,549 | €17,153 | €47,838 | €61,541 |
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 | €342,625 | - | €367,764 | €506,001 | €641,471 | €642,724 | €704,579 | €746,912 | ▲ 6.0% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €491,004 | €568,247 | €513,547 | €520,396 | €525,441 | ▲ 1.0% |
| Remuneration, social security and pensions62 | - | - | - | €7,302 | €32,846 | €35,493 | €37,349 | €38,702 | ▲ 3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €48,761 | €26,480 | €36,429 | €38,789 | €24,549 | €17,153 | €47,838 | €61,541 | ▲ 28.6% |
| Other operating charges640/8 | - | - | - | €1,065 | €1,072 | €30,829 | €21,601 | €21,442 | ▼ 0.7% |
| Gross operating margin9900 | €54,125 | €32,734 | €47,247 | €60,959 | €117,731 | €180,111 | €201,957 | €231,887 | ▲ 14.8% |
| Operating profit (loss)9901 | €1,714 | €5,274 | €9,821 | €13,803 | €59,264 | €96,636 | €95,170 | €110,203 | ▲ 15.8% |
| Financial income75/76B | - | - | - | - | €317 | €2,859 | €114 | €103 | ▼ 9.6% |
| Recurring financial income75 | - | - | - | - | €317 | €2,859 | €114 | €103 | ▼ 9.6% |
| Financial charges65/66B | - | - | - | €771 | €1,304 | €6,477 | €8,332 | €8,900 | ▲ 6.8% |
| Recurring financial charges65 | €2,176 | €1,578 | €1,164 | €771 | €1,304 | €6,477 | €8,332 | €8,900 | ▲ 6.8% |
| Profit (loss) for the period before taxes9903 | -€462 | €3,696 | €8,657 | €13,032 | €58,277 | €93,018 | €86,951 | €101,406 | ▲ 16.6% |
| Income taxes67/77 | €222 | €2,079 | €3,072 | €5,439 | €18,180 | €26,509 | €26,617 | €28,393 | ▲ 6.7% |
| Profit (loss) for the period9904 | -€684 | €1,617 | €5,585 | €7,593 | €40,097 | €66,508 | €60,335 | €73,013 | ▲ 21.0% |
| Profit (loss) for the period to be appropriated9905 | -€684 | €1,617 | €5,585 | €7,593 | €40,097 | €66,508 | €60,335 | €73,013 | ▲ 21.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €181,448 | €152,543 | €151,054 | €121,847 | €163,709 | €338,563 | €451,097 | €498,384 | ▲ 10.5% |
| Formation expenses20 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Fixed assets21/28 | €122,708 | €98,209 | €72,525 | €37,995 | €14,145 | €161,537 | €326,110 | €379,655 | ▲ 16.4% |
| Intangible fixed assets21 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Tangible fixed assets22/27 | €122,708 | €98,209 | €72,525 | €37,632 | €13,782 | €161,174 | €325,747 | €379,292 | ▲ 16.4% |
| Plant, machinery and equipment23 | - | - | - | €11,943 | €920 | €11,695 | €92,034 | €138,383 | ▲ 50.4% |
| Furniture and vehicles24 | - | - | - | €25,689 | €12,862 | €7,356 | €44,425 | €40,998 | ▼ 7.7% |
| Other tangible fixed assets26 | - | - | - | €0 | €0 | €142,123 | €189,287 | €199,911 | ▲ 5.6% |
| Financial fixed assets28 | - | - | - | €363 | €363 | €363 | €363 | €363 | = |
| Current assets29/58 | €58,740 | €54,334 | €78,529 | €83,852 | €149,564 | €177,026 | €124,987 | €118,729 | ▼ 5.0% |
| Amounts receivable within one year40/41 | €18,687 | €13,463 | €20,173 | €4,186 | €5,527 | €113,190 | €76,652 | €76,573 | ▼ 0.1% |
| Trade receivables40 | - | - | - | €0 | €0 | €22,278 | €379 | €300 | ▼ 20.9% |
| Other amounts receivable41 | - | - | - | €4,186 | €5,527 | €90,912 | €76,273 | €76,273 | = |
| Cash at bank and in hand54/58 | €35,508 | €37,930 | €57,950 | €79,666 | €133,707 | €46,481 | €47,980 | €38,804 | ▼ 19.1% |
| Deferred charges and accrued income490/1 | - | - | - | €0 | €10,330 | €17,354 | €355 | €3,352 | ▲ 844% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €181,448 | €152,543 | €151,054 | €121,847 | €163,709 | €338,563 | €451,097 | €498,384 | ▲ 10.5% |
| Equity10/15 | €67,107 | €68,724 | €74,309 | €81,902 | €122,000 | €188,508 | €248,843 | €321,855 | ▲ 29.3% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Capital10 | - | - | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Issued capital100 | - | - | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Uncalled capital101 | - | - | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €7,183 | €8,800 | €14,385 | €21,978 | €62,075 | €128,584 | €188,914 | €261,926 | ▲ 38.6% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Legal reserve130 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €20,118 | €60,215 | €128,584 | €188,914 | €261,926 | ▲ 38.6% |
| Profit (loss) carried forward14 | €53,724 | €53,724 | €53,724 | €53,724 | €53,724 | €53,724 | €53,729 | €53,729 | = |
| Amounts payable17/49 | €114,341 | €83,819 | €76,744 | €39,945 | €41,710 | €150,055 | €202,254 | €176,529 | ▼ 12.7% |
| Amounts payable after more than one year17 | €74,413 | €44,595 | €17,105 | €0 | - | €107,107 | €139,765 | €110,321 | ▼ 21.1% |
| Financial debts170/4 | - | - | - | €0 | - | €107,107 | €139,765 | €110,321 | ▼ 21.1% |
| Amounts payable within one year42/48 | €39,927 | €39,224 | €59,639 | €39,945 | €41,710 | €42,948 | €62,489 | €66,208 | ▲ 6.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €16,219 | €7,197 | €9,960 | €28,294 | €29,444 | ▲ 4.1% |
| Trade debts44 | €9,422 | €60 | €5,342 | €11,685 | €13,242 | €6,092 | €13,283 | €13,035 | ▼ 1.9% |
| Suppliers440/4 | - | - | - | €11,685 | €13,242 | €6,092 | €13,283 | €13,035 | ▼ 1.9% |
| Taxes, remuneration and social security45 | - | - | - | €12,041 | €15,403 | €15,503 | €17,076 | €18,860 | ▲ 10.5% |
| Taxes450/3 | - | - | - | €40 | €0 | €10,225 | €12,494 | €14,129 | ▲ 13.1% |
| Remuneration and social security454/9 | - | - | - | €12,001 | €15,403 | €5,279 | €4,582 | €4,731 | ▲ 3.3% |
| Other amounts payable47/48 | - | - | - | €0 | €5,868 | €11,393 | €3,837 | €4,869 | ▲ 26.9% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €0 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€684 | €1,617 | €5,585 | €7,593 | €40,097 | €66,508 | €60,335 | €73,013 | ▲ 21.0% |
| + Depreciation and write-downs630 | €48,761 | €26,480 | €36,429 | €38,789 | €24,549 | €17,153 | €47,838 | €61,541 | ▲ 28.6% |
| Operating cash flow (approximation) | €48,077 | €28,097 | €42,014 | €46,382 | €64,646 | €83,662 | €108,173 | €134,553 | ▲ 24.4% |
| Investment in fixed assets (approximation) | - | -€1,982 | -€10,745 | -€4,259 | -€699 | -€164,546 | -€212,410 | -€115,087 | ▲ 45.8% |
| Change in cash | - | €2,422 | €20,020 | €21,716 | €54,041 | -€87,226 | €1,499 | -€9,176 | - |
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, 34,693 companies had the same profile as BASIDENT has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of BASIDENT 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 34,693 companies, not a prediction for BASIDENT. 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 | full format | 23-06-2026 | 2026-00187869 | |
| 31-12-2024 | full format | 08-07-2025 | 2025-00245428 | |
| 31-12-2023 | full format | 22-07-2024 | 2024-00271601 | |
| 31-12-2022 | full format | 12-07-2023 | 2023-00227237 | |
| 31-12-2021 | full format | 11-07-2022 | 2022-20174345 | |
| 31-12-2020 | full format | 17-06-2021 | 2021-20600075 | |
| 31-12-2019 | full format | 14-06-2020 | 2020-16600095 | |
| 31-12-2018 | full format | 11-07-2019 | 2019-31100184 | |
| 31-12-2017 | full format | 15-06-2018 | 2018-19100579 | |
| 31-12-2016 | full format | 15-06-2017 | 2017-18000039 |