BeanCounter
ActiveFinancials · financial year 2024, micro format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 4 November 2026.
Annual accounts 2024 filed on 29-08-2025 PDF all 7 filings
Turnover
≈ €39,000
Estimated: probably between €20,000 and €74,000
Total assets
€118,028▲ 268%
2023 · €32,047
Net result
€5,279▲ 3.5%
2023 · €5,098
Working capital
€12,640▼ 32.6%
2023 · €18,741
Multi-year overview
2018 to 2024, 7 financial yearsOperating result
€5,346
▲ 3.7%
2024
20182024
Net result
€5,279
▲ 3.5%
2024
middle half of the sector
20182024
Equity
€26,841
▲ 24.5%
2024
middle half of the sector
20182024
Total assets
€118,028
▲ 268%
2024
middle half of the sector
20182024
Debt
€91,188
▲ 770%
2024
20182024
Working capital
€12,640
▼ 32.6%
2024
middle half of the sector
20182024
Solvency
22.7%
▼ 44.5pp
2024
lowest quarter of the sector
20182024
Current ratio
1.14
▼ 1.65
2024
lowest quarter of the sector
20182024
Return on assets (ROA)
4.5%
▼ 11.4pp
2024
middle half of the sector
20182024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Operating result€98,274--€26,501-€24,023▲ 9.4%-€22,145▲ 7.8%-€7,525▲ 66.0%€5,154€5,346▲ 3.7%
Net result€78,182--€26,537-€24,018below the sector's middle half▲ 9.5%-€22,178below the sector's middle half▲ 7.7%-€7,585below the sector's middle half▲ 65.8%€5,098within the sector's middle half€5,279within the sector's middle half▲ 3.5%
Equity€90,582-€64,045▼ 29.3%€40,027within the sector's middle half▼ 37.5%€17,849below the sector's middle half▼ 55.4%€16,464below the sector's middle half▼ 7.8%€21,562below the sector's middle half▲ 31.0%€26,841within the sector's middle half▲ 24.5%
Total assets€113,092-€84,137▼ 25.6%€40,039below the sector's middle half▼ 52.4%€17,866below the sector's middle half▼ 55.4%€16,970below the sector's middle half▼ 5.0%€32,047below the sector's middle half▲ 88.8%€118,028within the sector's middle half▲ 268%
Debt€22,510-€20,092▼ 10.7%€13▼ 99.9%€17▲ 36.9%€506▲ 29×€10,485▲ 21×€91,188▲ 770%
Working capital€90,499-€63,719▼ 29.6%€38,400within the sector's middle half▼ 39.7%€16,457within the sector's middle half▼ 57.1%€15,643within the sector's middle half▼ 4.9%€18,741within the sector's middle half▲ 19.8%€12,640within the sector's middle half▼ 32.6%
Solvency80.1%-76.1%▼ 4.0pp100.0%above the sector's middle half▲ 23.8pp99.9%above the sector's middle half▼ 0.1pp97.0%above the sector's middle half▼ 2.9pp67.3%within the sector's middle half▼ 29.7pp22.7%below the sector's middle half▼ 44.5pp
Current ratio5.02-4.17▼ 0.8531.91above the sector's middle half2.79within the sector's middle half▼ 29.121.14below the sector's middle half▼ 1.65
Return on assets (ROA)69.1%--31.5%▼ 100.7pp-60.0%below the sector's middle half▼ 28.4pp-124.1%below the sector's middle half▼ 64.1pp-44.7%below the sector's middle half▲ 79.4pp15.9%within the sector's middle half▲ 60.6pp4.5%within the sector's middle half▼ 11.4pp
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). 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 2024 is 4% higher than in 2023 and the highest since 2020. It is the fourth rise in a row.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €118,028
Fixed assets
€14,201 ▲ 404%
Current assets
€103,828 ▲ 255%
Equity and liabilities €118,028
Equity
€26,841 ▲ 24.5%
Debt
€91,188 ▲ 770%
Debt's share of the balance-sheet total rises from 32.7% to 77.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€6,723▲
2023 · €5,980
Cash flow
€6,655▲
2023 · €5,924
Debt to equity
3.40▲
2023 · 0.49
ROE
19.7%▼
2023 · 23.6%
Interest coverage
99.31▼
2023 · over 100
Debt ≤ 1 year
€91,188▲
2023 · €10,485
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Tangible fixed assets | €635 | €249 | €3,104 | €7,957 |
| Financial fixed assets | - | - | - | €4,800 |
| Depreciation and write-downs of the year | €870 | €819 | €826 | €1,376 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 2 entries · €25,330 awarded · €12,830 paidAnnual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €300 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,038 | €221 | €475 | €870 | €819 | €826 | €1,376 | ▲ 66.6% |
| Other operating charges640/8 | - | - | - | €348 | €348 | €384 | €387 | ▲ 0.8% |
| Gross operating margin9900 | €100,313 | -€26,280 | -€23,548 | -€20,928 | -€6,358 | €6,364 | €7,110 | ▲ 11.7% |
| Operating profit (loss)9901 | €98,274 | -€26,501 | -€24,023 | -€22,145 | -€7,525 | €5,154 | €5,346 | ▲ 3.7% |
| Financial income75/76B | - | - | - | - | - | - | €0 | - |
| Recurring financial income75 | €0 | - | - | - | - | - | €0 | - |
| Financial charges65/66B | - | - | - | €32 | €60 | €56 | €68 | ▲ 21.0% |
| Recurring financial charges65 | - | €36 | - | €32 | €60 | €56 | €68 | ▲ 21.0% |
| Profit (loss) for the period before taxes9903 | €98,274 | -€26,537 | -€24,023 | -€22,178 | -€7,585 | €5,098 | €5,279 | ▲ 3.5% |
| Income taxes67/77 | €20,092 | - | -€5 | - | - | - | - | - |
| Profit (loss) for the period9904 | €78,182 | -€26,537 | -€24,018 | -€22,178 | -€7,585 | €5,098 | €5,279 | ▲ 3.5% |
| Profit (loss) for the period to be appropriated9905 | €78,182 | -€26,537 | -€24,018 | -€22,178 | -€7,585 | €5,098 | €5,279 | ▲ 3.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €113,092 | €84,137 | €40,039 | €17,866 | €16,970 | €32,047 | €118,028 | ▲ 268% |
| Fixed assets21/28 | €83 | €326 | €1,627 | €1,392 | €821 | €2,820 | €14,201 | ▲ 404% |
| Tangible fixed assets22/27 | €83 | €326 | €1,627 | €1,392 | €821 | €2,820 | €9,401 | ▲ 233% |
| Furniture and vehicles24 | - | - | - | €1,392 | €821 | €2,820 | €9,401 | ▲ 233% |
| Financial fixed assets28 | - | - | - | - | - | - | €4,800 | - |
| Current assets29/58 | €113,008 | €83,811 | €38,413 | €16,475 | €16,149 | €29,226 | €103,828 | ▲ 255% |
| Amounts receivable within one year40/41 | €38,924 | €482 | €1,030 | €1,116 | €474 | €537 | €74,395 | ▲ 139× |
| Trade receivables40 | - | - | - | - | - | €303 | €61,784 | ▲ 204× |
| Other amounts receivable41 | - | - | - | €1,116 | €474 | €234 | €12,611 | ▲ 54× |
| Cash at bank and in hand54/58 | €74,085 | €82,929 | €37,109 | €15,086 | €15,402 | €28,294 | €28,926 | ▲ 2.2% |
| Deferred charges and accrued income490/1 | - | - | - | €273 | €273 | €395 | €507 | ▲ 28.2% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €113,092 | €84,137 | €40,039 | €17,866 | €16,970 | €32,047 | €118,028 | ▲ 268% |
| Equity10/15 | €90,582 | €64,045 | €40,027 | €17,849 | €16,464 | €21,562 | €26,841 | ▲ 24.5% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €76,322 | €49,785 | €25,767 | €3,589 | -€3,996 | €1,102 | €6,381 | ▲ 479% |
| Amounts payable17/49 | €22,510 | €20,092 | €13 | €17 | €506 | €10,485 | €91,188 | ▲ 770% |
| Amounts payable within one year42/48 | €22,510 | €20,092 | €13 | €17 | €506 | €10,485 | €91,188 | ▲ 770% |
| Trade debts44 | €1,015 | - | - | €5 | €492 | €4,662 | €89,784 | ▲ 19× |
| Suppliers440/4 | - | - | - | €5 | €492 | €4,662 | €89,784 | ▲ 19× |
| Taxes, remuneration and social security45 | - | - | - | - | - | €4,268 | €0 | ▼ 100% |
| Taxes450/3 | - | - | - | - | - | €4,268 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | €13 | €14 | €1,554 | €1,403 | ▼ 9.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €78,182 | -€26,537 | -€24,018 | -€22,178 | -€7,585 | €5,098 | €5,279 | ▲ 3.5% |
| + Depreciation and write-downs630 | €2,038 | €221 | €475 | €870 | €819 | €826 | €1,376 | ▲ 66.6% |
| Operating cash flow (approximation) | €80,220 | -€26,316 | -€23,544 | -€21,308 | -€6,766 | €5,924 | €6,655 | ▲ 12.3% |
| Investment in fixed assets (approximation) | - | -€464 | -€1,775 | -€635 | -€249 | -€2,825 | -€12,757 | ▼ 351% |
| Change in cash | - | €8,844 | -€45,820 | -€22,023 | €316 | €12,892 | €632 | ▼ 95.1% |
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, 3,274 companies had the same profile as BeanCounter has now. Two years later, 94.7% were still going and 2.5% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
94.7%
was still going
2.5%
stopped otherwise
2.5%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BeanCounter 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 3,274 companies, not a prediction for BeanCounter. 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.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | micro format | 29-08-2025 | 2025-00469774 | |
| 31-12-2023 | micro format | 03-06-2024 | 2024-00111923 | |
| 31-12-2022 | micro format | 26-05-2023 | 2023-00094957 | |
| 31-12-2021 | micro format | 01-06-2022 | 2022-20040726 | |
| 31-12-2020 | micro format | 15-06-2021 | 2021-20000357 | |
| 31-12-2019 | micro format | 12-06-2020 | 2020-16500034 | |
| 31-12-2018 | micro format | 02-07-2019 | 2019-27500025 |