beIT
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 12 days after the deadline Filed on 12 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00396380.
Annual accounts 2025 filed on 12-08-2026 at the NBB all 17 filings
Turnover
€141,640▲ 22.3%
2024 · €115,795
EBIT margin
9.0%▼ 0.7pp
2024 · 9.7%
Net result
€11,766▲ 10.3%
2024 · €10,665
Working capital
€16,425▲ 122%
2024 · €7,385
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€141,640
▲ 22.3%
2025
20182025
Operating result
€12,764
▲ 13.4%
2025
20182025
Net result
€11,766
▲ 10.3%
2025
middle half of the sector
20182025
EBIT margin
9.0%
▼ 0.7pp
2025
20182025
Equity
€23,993
▲ 96.2%
2025
middle half of the sector
20182025
Total assets
€35,072
▲ 64.0%
2025
lowest quarter of the sector
20182025
Debt
€11,079
▲ 20.9%
2025
20182025
Working capital
€16,425
▲ 122%
2025
middle half of the sector
20182025
Solvency
68.4%
▲ 11.2pp
2025
middle half of the sector
20182025
Current ratio
2.48
▲ 0.68
2025
middle half of the sector
20182025
Return on assets (ROA)
33.5%
▼ 16.3pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€96,380-€18,315▼ 81.0%€14,125▼ 22.9%€9,416▼ 33.3%€8,031▼ 14.7%€6,689▼ 16.7%€115,795▲ 17×€141,640▲ 22.3%
Operating result€9,047--€25,488-€15,837▲ 37.9%-€8,298▲ 47.6%-€5,637▲ 32.1%€477€11,254▲ 24×€12,764▲ 13.4%
Net result€5,503--€25,149-€15,451below the sector's middle half▲ 38.6%-€8,351below the sector's middle half▲ 46.0%-€5,784below the sector's middle half▲ 30.7%€478below the sector's middle half€10,665within the sector's middle half▲ 22×€11,766within the sector's middle half▲ 10.3%
EBIT margin9.4%--139.2%▼ 148.6pp-112.1%▲ 27.0pp-88.1%▲ 24.0pp-70.2%▲ 17.9pp7.1%▲ 77.3pp9.7%▲ 2.6pp9.0%▼ 0.7pp
Equity€79,318-€54,169▼ 31.7%€38,718within the sector's middle half▼ 28.5%€6,867below the sector's middle half▼ 82.3%€1,084below the sector's middle half▼ 84.2%€1,562below the sector's middle half▲ 44.1%€12,227below the sector's middle half▲ 683%€23,993within the sector's middle half▲ 96.2%
Total assets€80,068-€55,601▼ 30.6%€38,852below the sector's middle half▼ 30.1%€28,337below the sector's middle half▼ 27.1%€2,137below the sector's middle half▼ 92.5%€3,213below the sector's middle half▲ 50.4%€21,390below the sector's middle half▲ 566%€35,072below the sector's middle half▲ 64.0%
Debt€750-€1,432▲ 90.9%€134▼ 90.6%€21,470▲ 160×€1,053▼ 95.1%€1,651▲ 56.8%€9,163▲ 455%€11,079▲ 20.9%
Working capital€24,306-€36,095▲ 48.5%€29,524within the sector's middle half▼ 18.2%€5,133below the sector's middle half▼ 82.6%€322below the sector's middle half▼ 93.7%€1,163below the sector's middle half▲ 261%€7,385below the sector's middle half▲ 535%€16,425within the sector's middle half▲ 122%
Solvency99.1%-97.4%▼ 1.6pp99.7%above the sector's middle half▲ 2.2pp24.2%below the sector's middle half▼ 75.4pp57.2%within the sector's middle half68.4%within the sector's middle half▲ 11.2pp
Current ratio33.41-26.21▼ 7.201.24below the sector's middle half1.81within the sector's middle half2.48within the sector's middle half▲ 0.68
Return on assets (ROA)6.9%--45.2%▼ 52.1pp-39.8%below the sector's middle half▲ 5.5pp-29.5%below the sector's middle half▲ 10.3pp49.9%above the sector's middle half33.5%within the sector's middle half▼ 16.3pp
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 2025 is 13% higher than in 2024 and the highest since 2021. It is the fourth rise in a row.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €35,072
Fixed assets
€7,568 ▲ 56.3%
Current assets
€27,504 ▲ 66.2%
Equity and liabilities €35,072
Equity
€23,993 ▲ 96.2%
Debt
€11,079 ▲ 20.9%
Debt's share of the balance-sheet total falls from 42.8% to 31.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€13,891▲
2024 · €11,924
Cash flow
€12,893▲
2024 · €11,335
Debt to equity
0.46▼
2024 · 0.75
ROE
49.0%▼
2024 · 87.2%
Interest coverage
82.20▲
2024 · 28.46
Debt ≤ 1 year
€11,079▲
2024 · €9,163
Income taxes
€1,199▲
2024 · €173
Customer credit
3 days▼
2024 · 39 days
Supplier credit
3 days
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 | - | - | - | €5,113 | €3,853 |
| Depreciation and write-downs of the year | €1,853 | €972 | €363 | €670 | €1,127 |
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 | €96,380 | €18,315 | €14,125 | €9,416 | €8,031 | €6,689 | €115,795 | €141,640 | ▲ 22.3% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €18,089 | €4,300 | €5,847 | €108,675 | €131,389 | ▲ 20.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,842 | €9,635 | €8,880 | €1,853 | €972 | €363 | €670 | €1,127 | ▲ 68.2% |
| Gross operating margin9900 | €30,861 | -€15,853 | -€6,901 | -€6,445 | -€4,665 | €840 | €11,924 | €13,891 | ▲ 16.5% |
| Operating profit (loss)9901 | €9,047 | -€25,488 | -€15,837 | -€8,298 | -€5,637 | €477 | €11,254 | €12,764 | ▲ 13.4% |
| Financial income75/76B | - | - | - | €119 | - | €5 | €3 | €370 | ▲ 123× |
| Recurring financial income75 | €125 | €805 | €707 | €119 | - | €5 | €3 | €370 | ▲ 123× |
| Financial charges65/66B | - | - | - | €131 | €147 | €3 | €419 | €169 | ▼ 59.7% |
| Recurring financial charges65 | €354 | €21 | €139 | €131 | €147 | €3 | €419 | €169 | ▼ 59.7% |
| Profit (loss) for the period before taxes9903 | €8,818 | -€24,704 | -€15,269 | -€8,310 | -€5,784 | €479 | €10,838 | €12,965 | ▲ 19.6% |
| Income taxes67/77 | €3,315 | €445 | €182 | €41 | - | €1 | €173 | €1,199 | ▲ 593% |
| Profit (loss) for the period9904 | €5,503 | -€25,149 | -€15,451 | -€8,351 | -€5,784 | €478 | €10,665 | €11,766 | ▲ 10.3% |
| Profit (loss) for the period to be appropriated9905 | €5,503 | -€25,149 | -€15,451 | -€8,351 | -€5,784 | €478 | €10,665 | €11,766 | ▲ 10.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €80,068 | €55,601 | €38,852 | €28,337 | €2,137 | €3,213 | €21,390 | €35,072 | ▲ 64.0% |
| Fixed assets21/28 | €55,012 | €18,074 | €9,194 | €1,734 | €762 | €399 | €4,842 | €7,568 | ▲ 56.3% |
| Tangible fixed assets22/27 | €32,275 | €18,074 | €9,194 | €1,734 | €762 | €399 | €4,842 | €7,568 | ▲ 56.3% |
| Plant, machinery and equipment23 | - | - | - | - | - | - | €4,738 | €7,568 | ▲ 59.7% |
| Other tangible fixed assets26 | - | - | - | €1,734 | €762 | €399 | €104 | - | - |
| Financial fixed assets28 | €22,737 | - | - | - | - | - | - | - | - |
| Current assets29/58 | €25,056 | €37,527 | €29,658 | €26,603 | €1,375 | €2,814 | €16,548 | €27,504 | ▲ 66.2% |
| Amounts receivable within one year40/41 | €17,866 | €15,438 | €9,665 | €12,976 | €558 | €363 | €14,996 | €16,245 | ▲ 8.3% |
| Trade receivables40 | - | - | - | €662 | - | €363 | €12,272 | €1,062 | ▼ 91.3% |
| Other amounts receivable41 | - | - | - | €12,314 | €558 | - | €2,724 | €15,183 | ▲ 457% |
| Cash at bank and in hand54/58 | €7,190 | €4,722 | €8,650 | €13,627 | €817 | €2,451 | €1,552 | €11,259 | ▲ 625% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €80,068 | €55,601 | €38,852 | €28,337 | €2,137 | €3,213 | €21,390 | €35,072 | ▲ 64.0% |
| Equity10/15 | €79,318 | €54,169 | €38,718 | €6,867 | €1,084 | €1,562 | €12,227 | €23,993 | ▲ 96.2% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Capital10 | - | - | - | €6,200 | €6,200 | - | - | - | - |
| Issued capital100 | - | - | - | €18,600 | €18,600 | - | - | - | - |
| Uncalled capital101 | - | - | - | €12,400 | €12,400 | - | - | - | - |
| Reserves13 | €30,860 | €30,860 | €30,860 | €7,360 | €7,360 | €7,360 | €7,360 | €17,760 | ▲ 141% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Legal reserve130 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €5,500 | €5,500 | €7,360 | €7,360 | €17,760 | ▲ 141% |
| Profit (loss) carried forward14 | €42,258 | €17,109 | €1,658 | -€6,693 | -€12,476 | -€11,998 | -€1,333 | €33 | - |
| Amounts payable17/49 | €750 | €1,432 | €134 | €21,470 | €1,053 | €1,651 | €9,163 | €11,079 | ▲ 20.9% |
| Amounts payable within one year42/48 | €750 | €1,432 | €134 | €21,470 | €1,053 | €1,651 | €9,163 | €11,079 | ▲ 20.9% |
| Trade debts44 | - | €987 | - | - | - | €538 | - | €936 | - |
| Suppliers440/4 | - | - | - | - | - | €538 | - | €936 | - |
| Taxes, remuneration and social security45 | - | - | - | €222 | - | €60 | €9,163 | €10,143 | ▲ 10.7% |
| Taxes450/3 | - | - | - | €222 | - | €60 | €9,163 | €10,143 | ▲ 10.7% |
| Other amounts payable47/48 | - | - | - | €21,248 | €1,053 | €1,053 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,503 | -€25,149 | -€15,451 | -€8,351 | -€5,784 | €478 | €10,665 | €11,766 | ▲ 10.3% |
| + Depreciation and write-downs630 | €13,842 | €9,635 | €8,880 | €1,853 | €972 | €363 | €670 | €1,127 | ▲ 68.2% |
| Operating cash flow (approximation) | €19,345 | -€15,514 | -€6,571 | -€6,498 | -€4,812 | €841 | €11,335 | €12,893 | ▲ 13.7% |
| Investment in fixed assets (approximation) | - | €27,303 | €0 | €5,607 | €0 | €0 | -€5,113 | -€3,853 | ▲ 24.6% |
| Change in cash | - | -€2,468 | €3,928 | €4,977 | -€12,810 | €1,634 | -€899 | €9,707 | - |
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 beIT 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 beIT 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 beIT. 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 | micro format | 12-08-2026 | 2026-00396380 | |
| 31-12-2024 | micro format | 01-07-2025 | 2025-00215126 | |
| 31-12-2023 | micro format | 23-08-2024 | 2024-00370003 | |
| 31-12-2022 | micro format | 22-06-2023 | 2023-00147643 | |
| 31-12-2021 | micro format | 27-06-2022 | 2022-20096826 | |
| 31-12-2020 | micro format | 25-06-2021 | 2021-25300194 | |
| 31-12-2019 | micro format | 05-08-2020 | 2020-39100501 | |
| 31-12-2018 | micro format | 07-08-2019 | 2019-44500358 | |
| 31-12-2017 | micro format | 16-08-2018 | 2018-47000466 | |
| 31-12-2016 | micro format | 07-08-2017 | 2017-41600271 |