BENEDIC
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 23-06-2026 at the NBB all 27 filings
Turnover
≈ €4.2m
Estimated: probably between €2.8m and €6.9m
EBIT margin
Not included in this filing
Net result
€83,450▲ 176%
2024 · €30,199
Working capital
€129,615▲ 125%
2024 · €57,607
In the rankings
#5 oldest company in Fleurus, Administrative and support services sector#6 company by total assets in Fleurus, Administrative and support services sector#7 company by equity in Fleurus, Administrative and support services sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€154,027
▲ 147%
2025
20182025
Net result
€83,450
▲ 176%
2025
highest quarter of the sector
20182025
Equity
€707,670
▲ 8.4%
2025
highest quarter of the sector
20182025
Total assets
€1.9m
▼ 2.5%
2025
highest quarter of the sector
20182025
Debt
€1.1m
▼ 8.2%
2025
20182025
Working capital
€129,615
▲ 125%
2025
middle half of the sector
20182025
Solvency
38.1%
▲ 3.8pp
2025
middle half of the sector
20182025
Current ratio
1.18
▲ 0.10
2025
middle half of the sector
20182025
Return on assets (ROA)
4.5%
▲ 2.9pp
2025
middle half of the sector
20182025
Staff (FTE)
45.4
▼ 8.8%
2025
highest 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€0.1m-€0.2m▲ 77.3%€0.1m▼ 45.8%€0.1m▲ 35.3%€0.06m▼ 51.9%€0.1m▲ 123%€0.06m▼ 56.4%€0.2m▲ 147%
Net result€0.07m-€0.1m▲ 125%€0.07mwithin the sector's middle half▼ 52.4%€0.1mwithin the sector's middle half▲ 65.0%€0.03mwithin the sector's middle half▼ 75.1%€0.09mwithin the sector's middle half▲ 208%€0.03mwithin the sector's middle half▼ 66.6%€0.08mabove the sector's middle half▲ 176%
Equity€0.3m-€0.3m▲ 16.8%€0.5mwithin the sector's middle half▲ 37.2%€0.5mwithin the sector's middle half▲ 12.5%€0.6mwithin the sector's middle half▲ 3.4%€0.6mwithin the sector's middle half▲ 14.4%€0.7mwithin the sector's middle half▲ 3.4%€0.7mabove the sector's middle half▲ 8.4%
Total assets€1.0m-€1.5m▲ 49.3%€1.8mwithin the sector's middle half▲ 18.5%€1.9mwithin the sector's middle half▲ 5.7%€1.8mwithin the sector's middle half▼ 3.6%€1.7mwithin the sector's middle half▼ 5.7%€1.9mwithin the sector's middle half▲ 10.4%€1.9mabove the sector's middle half▼ 2.5%
Debt€0.7m-€1.2m▲ 62.7%€1.3m▲ 12.9%€1.4m▲ 3.3%€1.3m▼ 6.3%€1.1m▼ 14.4%€1.3m▲ 14.5%€1.1m▼ 8.2%
Working capital€0.2m-€0.03m▼ 84.9%€0.1mwithin the sector's middle half▲ 272%€0.07mwithin the sector's middle half▼ 33.1%€0.1mwithin the sector's middle half▲ 59.3%€0.2mwithin the sector's middle half▲ 59.5%€0.06mwithin the sector's middle half▼ 69.3%€0.1mwithin the sector's middle half▲ 125%
Solvency29.2%-22.9%▼ 6.4pp26.5%within the sector's middle half▲ 3.6pp28.2%within the sector's middle half▲ 1.7pp30.2%within the sector's middle half▲ 2.0pp36.7%within the sector's middle half▲ 6.4pp34.3%within the sector's middle half▼ 2.3pp38.1%within the sector's middle half▲ 3.8pp
Current ratio1.47-1.04▼ 0.431.14within the sector's middle half▲ 0.101.10within the sector's middle half▼ 0.041.16within the sector's middle half▲ 0.071.30within the sector's middle half▲ 0.141.08within the sector's middle half▼ 0.221.18within the sector's middle half▲ 0.10
Return on assets (ROA)6.6%-9.9%▲ 3.3pp4.0%within the sector's middle half▼ 5.9pp6.2%within the sector's middle half▲ 2.2pp1.6%within the sector's middle half▼ 4.6pp5.2%within the sector's middle half▲ 3.6pp1.6%within the sector's middle half▼ 3.7pp4.5%within the sector's middle half▲ 2.9pp
Staff (FTE)33.9-37.8▲ 11.5%40.4within the sector's middle half▲ 6.9%40.9within the sector's middle half▲ 1.2%43.2within the sector's middle half▲ 5.6%45.7above the sector's middle half▲ 5.8%49.8above the sector's middle half▲ 9.0%45.4above the sector's middle half▼ 8.8%
above
within
below
The sector band is the middle half of the companies in Services to buildings and landscape activities (NACE 81). 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 147% higher than in 2024 and the highest since 2021. It is a recovery after the fall in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.9m
Fixed assets
€1.0m ▼ 9.6%
Current assets
€839,901 ▲ 7.7%
Equity and liabilities €1.9m
Equity
€707,670 ▲ 8.4%
Debt
€1.1m ▼ 8.2%
Debt's share of the balance-sheet total falls from 65.7% to 61.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€328,693▲
2024 · €216,107
Cash flow
€258,116▲
2024 · €184,042
Quick ratio
1.06▲
2024 · 0.95
Debt to equity
1.62▼
2024 · 1.91
ROE
11.8%▲
2024 · 4.6%
Interest coverage
8.03▲
2024 · 6.45
Debt ≤ 1 year
€710,287▼
2024 · €722,350
Debt > 1 year
€434,815▼
2024 · €511,690
Income taxes
€40,131▲
2024 · €18,802
Staff costs
€2.1m▲
2024 · €2.0m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 62 | 69 | 69 | 76 | 69 |
| full-time | 10 | 10 | 10 | 10 | 11 |
| part-time | 52 | 59 | 59 | 66 | 58 |
| in full-time equivalents | 41.7 | 45.8 | 45.7 | 49.8 | 44.8 |
| Average over the year, in full-time equivalents | 40.9 | 43.2 | 45.7 | 49.5 | 45.4 |
| On a permanent contract | 61 | 65 | 64 | 70 | 65 |
| Joined | 13 | 41 | - | 34 | 22 |
| Left | 11 | 34 | - | 27 | 29 |
| Training hours | 25 | - | - | - | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €416,667 | €383,333 | €350,000 | €316,667 | €283,333 |
| Mortgages, amount registered | €110,000 | €110,000 | €110,000 | €100,000 | €100,000 |
| Carrying value of the mortgaged assets | €758,274 | €714,557 | €672,290 | €628,471 | €584,652 |
| Pledge on the business | - | - | - | €270,000 | €270,000 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €226,626 | €56,643 | €53,451 | €85,942 | €53,413 |
| Intangible fixed assets | - | €65,000 | - | €273,000 | €13,838 |
| Financial fixed assets | €40,000 | - | €2,867 | - | - |
| Depreciation and write-downs of the year | €101,240 | €115,064 | €126,801 | €153,843 | €174,666 |
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 | - | - | - | - | €0.005m | - | - | €103 | - |
| Remuneration, social security and pensions62 | - | - | - | €1.5m | €1.6m | €1.9m | €2.0m | €2.1m | ▲ 5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.05m | €0.07m | €0.09m | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 13.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€0.003m | €0.004m | - | - | - | - |
| Other operating charges640/8 | - | - | - | €0.003m | €0.004m | €0.005m | €0.01m | €0.01m | ▲ 17.9% |
| Non-recurring operating charges66A | - | - | - | €0.001m | €0.05m | €0.006m | €0.004m | €0.002m | ▼ 34.0% |
| Gross operating margin9900 | €1.3m | €1.6m | €1.5m | €1.7m | €1.8m | €2.2m | €2.2m | €2.4m | ▲ 9.6% |
| Operating profit (loss)9901 | €0.1m | €0.2m | €0.1m | €0.1m | €0.06m | €0.1m | €0.06m | €0.2m | ▲ 147% |
| Financial income75/76B | - | - | - | €0.05m | €0.02m | €0.02m | €0.02m | €0.01m | ▼ 48.1% |
| Recurring financial income75 | €0.01m | €0.004m | €0.02m | €0.04m | €0.02m | €0.02m | €0.02m | €0.01m | ▼ 48.1% |
| Non-recurring financial income76B | - | - | - | €0.009m | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €0.02m | €0.02m | €0.03m | €0.03m | €0.04m | ▲ 22.3% |
| Recurring financial charges65 | €0.01m | €0.02m | €0.02m | €0.02m | €0.02m | €0.03m | €0.03m | €0.04m | ▲ 22.3% |
| Profit (loss) for the period before taxes9903 | €0.1m | €0.2m | €0.1m | €0.2m | €0.06m | €0.1m | €0.05m | €0.1m | ▲ 152% |
| Income taxes67/77 | €0.04m | €0.02m | €0.03m | €0.04m | €0.03m | €0.04m | €0.02m | €0.04m | ▲ 113% |
| Profit (loss) for the period9904 | €0.07m | €0.1m | €0.07m | €0.1m | €0.03m | €0.09m | €0.03m | €0.08m | ▲ 176% |
| Transfer from tax-exempt reserves789 | - | - | - | €0.03m | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €0.07m | €0.1m | €0.07m | €0.1m | €0.03m | €0.09m | €0.03m | €0.08m | ▲ 176% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.0m | €1.5m | €1.8m | €1.9m | €1.8m | €1.7m | €1.9m | €1.9m | ▼ 2.5% |
| Fixed assets21/28 | €0.4m | €0.8m | €0.9m | €1.1m | €1.0m | €0.9m | €1.1m | €1.0m | ▼ 9.6% |
| Intangible fixed assets21 | €0.002m | €0.002m | €0.1m | €0.1m | €0.1m | €0.1m | €0.3m | €0.3m | ▼ 17.8% |
| Tangible fixed assets22/27 | €0.4m | €0.7m | €0.7m | €0.9m | €0.8m | €0.8m | €0.8m | €0.7m | ▼ 6.3% |
| Land and buildings22 | - | - | - | €0.8m | €0.7m | €0.7m | €0.6m | €0.6m | ▼ 7.0% |
| Plant, machinery and equipment23 | - | - | - | €0.05m | €0.07m | €0.09m | €0.1m | €0.1m | ▼ 4.0% |
| Furniture and vehicles24 | - | - | - | €0.07m | €0.06m | €0.04m | €0.04m | €0.04m | ▼ 2.9% |
| Financial fixed assets28 | €0.04m | €0.04m | €0.04m | €0.08m | €195 | €0.003m | €0.003m | €0.003m | = |
| Current assets29/58 | €0.6m | €0.7m | €0.9m | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | ▲ 7.7% |
| Stocks and contracts in progress3 | €0.05m | €0.06m | €0.06m | €0.09m | €0.09m | €0.07m | €0.09m | €0.09m | ▼ 5.4% |
| Stocks30/36 | - | - | - | €0.09m | €0.09m | €0.07m | €0.09m | €0.09m | ▼ 5.4% |
| Amounts receivable within one year40/41 | €0.4m | €0.5m | €0.5m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | ▲ 1.7% |
| Trade receivables40 | - | - | - | €0.5m | €0.5m | €0.5m | €0.5m | €0.6m | ▲ 6.5% |
| Other amounts receivable41 | - | - | - | €0.1m | €0.08m | €0.06m | €0.03m | - | - |
| Cash at bank and in hand54/58 | €0.1m | €0.2m | €0.3m | €0.2m | €0.2m | €0.1m | €0.1m | €0.2m | ▲ 49.3% |
| Deferred charges and accrued income490/1 | - | - | - | €0.007m | €0.01m | €0.02m | €0.02m | €0.02m | ▲ 7.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.0m | €1.5m | €1.8m | €1.9m | €1.8m | €1.7m | €1.9m | €1.9m | ▼ 2.5% |
| Equity10/15 | €0.3m | €0.3m | €0.5m | €0.5m | €0.6m | €0.6m | €0.7m | €0.7m | ▲ 8.4% |
| Contributions10/11 | €0.02m | €0.02m | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Non-distributable reserves130/1 | - | - | - | €0.002m | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | - | - | - | - | - |
| Distributable reserves133 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Profit (loss) carried forward14 | €0.2m | €0.3m | €0.3m | €0.3m | €0.4m | €0.5m | €0.5m | €0.5m | ▲ 13.1% |
| Investment grants15 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 7.4% |
| Amounts payable17/49 | €0.7m | €1.2m | €1.3m | €1.4m | €1.3m | €1.1m | €1.3m | €1.1m | ▼ 8.2% |
| Amounts payable after more than one year17 | €0.3m | €0.5m | €0.5m | €0.6m | €0.5m | €0.5m | €0.5m | €0.4m | ▼ 15.0% |
| Financial debts170/4 | - | - | - | €0.6m | €0.5m | €0.5m | €0.5m | €0.4m | ▼ 15.0% |
| Amounts payable within one year42/48 | €0.4m | €0.7m | €0.8m | €0.8m | €0.7m | €0.6m | €0.7m | €0.7m | ▼ 1.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 6.7% |
| Financial debts43 | - | - | - | €0.1m | €0.08m | - | - | - | - |
| Credit institutions430/8 | - | - | - | €0.1m | €0.08m | - | - | - | - |
| Trade debts44 | €0.2m | €0.3m | €0.3m | €0.2m | €0.3m | €0.2m | €0.3m | €0.3m | ▼ 19.3% |
| Suppliers440/4 | - | - | - | €0.2m | €0.3m | €0.2m | €0.3m | €0.3m | ▼ 19.3% |
| Advances received on contracts in progress46 | - | - | - | €465 | €0.001m | - | - | €0.001m | - |
| Taxes, remuneration and social security45 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | ▲ 19.5% |
| Taxes450/3 | - | - | - | €0.005m | - | €0.002m | €0.02m | €0.02m | ▲ 18.1% |
| Remuneration and social security454/9 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 19.7% |
| Other amounts payable47/48 | - | - | - | €0.1m | - | - | - | €0.02m | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.009m | €0.005m | €0.008m | €0.02m | €0.003m | ▼ 82.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €66,475 | €149,784 | €71,241 | €117,566 | €29,318 | €90,292 | €30,199 | €83,450 | ▲ 176% |
| + Depreciation and write-downs630 | €45,476 | €70,462 | €89,350 | €101,240 | €115,064 | €126,801 | €153,843 | €174,666 | ▲ 13.5% |
| Operating cash flow (approximation) | €111,951 | €220,247 | €160,591 | €218,806 | €144,382 | €217,093 | €184,042 | €258,116 | ▲ 40.2% |
| Investment in fixed assets (approximation) | - | -€447,726 | -€209,891 | -€263,626 | -€44,143 | -€56,318 | -€358,942 | -€67,250 | ▲ 81.3% |
| Change in cash | - | €67,524 | €166,076 | -€170,849 | €20,698 | -€31,310 | -€40,289 | €53,956 | - |
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, 14,766 companies had the same profile as BENEDIC has now. Two years later, 96.2% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
96.2%
was still going
3.5%
stopped otherwise
0.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BENEDIC 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 14,766 companies, not a prediction for BENEDIC. 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 27 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 23-06-2026 | 2026-00187871 | |
| 31-12-2024 | full format | 02-06-2025 | 2025-00116803 | |
| 31-12-2023 | full format | 18-07-2024 | 2024-00257405 | |
| 31-12-2022 | full format | 24-07-2023 | 2023-00260805 | |
| 31-12-2021 | full format | 15-07-2022 | 2022-20188079 | |
| 31-12-2020 | full format | 02-07-2021 | 2021-28900336 | |
| 31-12-2019 | full format | 24-06-2020 | 2020-19600187 | |
| 31-12-2018 | full format | 27-08-2019 | 2019-50700504 | |
| 31-12-2017 | full format | 19-07-2018 | 2018-34400113 | |
| 31-12-2016 | full format | 16-06-2017 | 2017-17600139 |