BIZZARC
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 27-05-2026 PDF all 10 filings
Turnover
≈ €120,000
Estimated: probably between €55,000 and €290,000
Total assets
€62,124▼ 58.8%
2024 · €150,928
Net result
€4,355▼ 83.8%
2024 · €26,928
Working capital
€48,250▲ 38.2%
2024 · €34,901
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€6,291
▼ 81.7%
2025
20182025
Net result
€4,355
▼ 83.8%
2025
middle half of the sector
20182025
Equity
€52,371
▲ 9.1%
2025
middle half of the sector
20182025
Total assets
€62,124
▼ 58.8%
2025
middle half of the sector
20182025
Debt
€9,754
▼ 90.5%
2025
20182025
Working capital
€48,250
▲ 38.2%
2025
middle half of the sector
20182025
Solvency
84.3%
▲ 52.5pp
2025
highest quarter of the sector
20182025
Current ratio
5.95
▲ 4.61
2025
highest quarter of the sector
20182025
Return on assets (ROA)
7.0%
▼ 10.8pp
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
Operating result€20,194--€21,540€63,617€48,788▼ 23.3%€33,766▼ 30.8%€43,932▲ 30.1%€34,415▼ 21.7%€6,291▼ 81.7%
Net result€14,589--€22,124€54,268above the sector's middle half€38,527within the sector's middle half▼ 29.0%€21,689within the sector's middle half▼ 43.7%€33,869within the sector's middle half▲ 56.2%€26,928within the sector's middle half▼ 20.5%€4,355within the sector's middle half▼ 83.8%
Equity€68,259-€46,134▼ 32.4%€100,403within the sector's middle half▲ 118%€60,529within the sector's middle half▼ 39.7%€82,218within the sector's middle half▲ 35.8%€116,087within the sector's middle half▲ 41.2%€48,015within the sector's middle half▼ 58.6%€52,371within the sector's middle half▲ 9.1%
Total assets€77,967-€51,369▼ 34.1%€107,845within the sector's middle half▲ 110%€137,347within the sector's middle half▲ 27.4%€89,209within the sector's middle half▼ 35.0%€121,140within the sector's middle half▲ 35.8%€150,928within the sector's middle half▲ 24.6%€62,124within the sector's middle half▼ 58.8%
Debt€9,709-€5,235▼ 46.1%€7,443▲ 42.2%€76,818▲ 932%€6,991▼ 90.9%€5,052▼ 27.7%€102,913▲ 20×€9,754▼ 90.5%
Working capital€67,422-€33,493▼ 50.3%€92,899within the sector's middle half▲ 177%€26,859within the sector's middle half▼ 71.1%€54,745within the sector's middle half▲ 104%€93,979within the sector's middle half▲ 71.7%€34,901within the sector's middle half▼ 62.9%€48,250within the sector's middle half▲ 38.2%
Solvency87.5%-89.8%▲ 2.3pp93.1%above the sector's middle half▲ 3.3pp44.1%within the sector's middle half▼ 49.0pp92.2%above the sector's middle half▲ 48.1pp95.8%above the sector's middle half▲ 3.7pp31.8%within the sector's middle half▼ 64.0pp84.3%above the sector's middle half▲ 52.5pp
Current ratio7.94-7.40▼ 0.5513.48above the sector's middle half▲ 6.081.35within the sector's middle half▼ 12.138.83above the sector's middle half▲ 7.4819.60above the sector's middle half▲ 10.771.34within the sector's middle half▼ 18.265.95above the sector's middle half▲ 4.61
Return on assets (ROA)18.7%--43.1%▼ 61.8pp50.3%above the sector's middle half▲ 93.4pp28.1%above the sector's middle half▼ 22.3pp24.3%within the sector's middle half▼ 3.7pp28.0%within the sector's middle half▲ 3.6pp17.8%within the sector's middle half▼ 10.1pp7.0%within the sector's middle half▼ 10.8pp
above
within
below
The sector band is the middle half of the companies in Computing infrastructure, data processing, hosting and other information service activities (NACE 63). 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 82% lower than in 2024 and the lowest since 2021. It is the second fall 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
2025 in colour, 2024 as the grey bar beneath
Assets €62,124
Fixed assets
€4,121 ▼ 68.6%
Current assets
€58,004 ▼ 57.9%
Equity and liabilities €62,124
Equity
€52,371 ▲ 9.1%
Debt
€9,754 ▼ 90.5%
Debt's share of the balance-sheet total falls from 68.2% to 15.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€15,285▼
2024 · €43,409
Cash flow
€13,349▼
2024 · €35,921
Debt to equity
0.19▼
2024 · 2.14
ROE
8.3%▼
2024 · 56.1%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€9,754▼
2024 · €102,913
Income taxes
€2,825▼
2024 · €8,315
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 | €36,274 | €2,392 | €4,499 | - | - |
| Depreciation and write-downs of the year | €6,152 | €8,589 | €9,864 | €8,994 | €8,994 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €837 | €5,975 | €5,138 | €6,152 | €8,589 | €9,864 | €8,994 | €8,994 | = |
| Other operating charges640/8 | - | - | - | €1,016 | €266 | €290 | €305 | €315 | ▲ 3.4% |
| Gross operating margin9900 | €21,031 | -€15,006 | €69,355 | €55,955 | €42,621 | €54,086 | €43,714 | €15,600 | ▼ 64.3% |
| Operating profit (loss)9901 | €20,194 | -€21,540 | €63,617 | €48,788 | €33,766 | €43,932 | €34,415 | €6,291 | ▼ 81.7% |
| Financial income75/76B | - | - | - | - | - | - | €912 | €948 | ▲ 3.9% |
| Recurring financial income75 | €23 | €17 | €4 | - | - | - | €912 | €948 | ▲ 3.9% |
| Financial charges65/66B | - | - | - | €81 | €20 | €30 | €85 | €59 | ▼ 31.1% |
| Recurring financial charges65 | €972 | €454 | €40 | €81 | €20 | €30 | €85 | €59 | ▼ 31.1% |
| Profit (loss) for the period before taxes9903 | €19,245 | -€21,977 | €63,580 | €48,707 | €33,746 | €43,902 | €35,243 | €7,180 | ▼ 79.6% |
| Income taxes67/77 | €4,657 | €147 | €9,312 | €10,180 | €12,057 | €10,033 | €8,315 | €2,825 | ▼ 66.0% |
| Profit (loss) for the period9904 | €14,589 | -€22,124 | €54,268 | €38,527 | €21,689 | €33,869 | €26,928 | €4,355 | ▼ 83.8% |
| Profit (loss) for the period to be appropriated9905 | €14,589 | -€22,124 | €54,268 | €38,527 | €21,689 | €33,869 | €26,928 | €4,355 | ▼ 83.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €77,967 | €51,369 | €107,845 | €137,347 | €89,209 | €121,140 | €150,928 | €62,124 | ▼ 58.8% |
| Fixed assets21/28 | €837 | €12,641 | €7,504 | €33,670 | €27,473 | €22,108 | €13,114 | €4,121 | ▼ 68.6% |
| Tangible fixed assets22/27 | €837 | €12,641 | €7,504 | €33,670 | €27,473 | €22,108 | €13,114 | €4,121 | ▼ 68.6% |
| Plant, machinery and equipment23 | - | - | - | €2,365 | €3,422 | €5,312 | €3,574 | €1,835 | ▼ 48.7% |
| Furniture and vehicles24 | - | - | - | €31,305 | €24,050 | €16,795 | €9,541 | €2,286 | ▼ 76.0% |
| Current assets29/58 | €77,130 | €38,728 | €100,342 | €103,677 | €61,736 | €99,032 | €137,814 | €58,004 | ▼ 57.9% |
| Amounts receivable within one year40/41 | €26,571 | €13,766 | €16,115 | €28,033 | €15,024 | €24,183 | €11,045 | €7,747 | ▼ 29.9% |
| Trade receivables40 | - | - | - | €25,713 | €12,703 | €23,716 | €8,393 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | €2,320 | €2,320 | €467 | €2,653 | €7,747 | ▲ 192% |
| Current investments50/53 | - | - | - | - | - | - | - | €11,000 | - |
| Cash at bank and in hand54/58 | €50,559 | €13,436 | €72,774 | €64,641 | €46,396 | €74,532 | €126,452 | €38,940 | ▼ 69.2% |
| Deferred charges and accrued income490/1 | - | - | - | €11,003 | €317 | €317 | €317 | €317 | = |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €77,967 | €51,369 | €107,845 | €137,347 | €89,209 | €121,140 | €150,928 | €62,124 | ▼ 58.8% |
| Equity10/15 | €68,259 | €46,134 | €100,403 | €60,529 | €82,218 | €116,087 | €48,015 | €52,371 | ▲ 9.1% |
| Contributions10/11 | €13,400 | €13,400 | - | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Non-distributable reserves130/1 | - | - | - | €2,000 | €2,000 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €2,000 | €2,000 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | - | - | €2,000 | €2,000 | €2,000 | = |
| Profit (loss) carried forward14 | €52,859 | €30,734 | €85,003 | €38,529 | €60,218 | €94,087 | €26,015 | €30,371 | ▲ 16.7% |
| Amounts payable17/49 | €9,709 | €5,235 | €7,443 | €76,818 | €6,991 | €5,052 | €102,913 | €9,754 | ▼ 90.5% |
| Amounts payable within one year42/48 | €9,709 | €5,235 | €7,443 | €76,818 | €6,991 | €5,052 | €102,913 | €9,754 | ▼ 90.5% |
| Trade debts44 | €1,366 | €330 | €117 | €1,072 | €238 | €2,592 | €80 | €135 | ▲ 67.7% |
| Suppliers440/4 | - | - | - | €1,072 | €238 | €2,592 | €80 | €135 | ▲ 67.7% |
| Taxes, remuneration and social security45 | - | - | - | €1,570 | €6,061 | €1,485 | €3,325 | €0 | ▼ 100% |
| Taxes450/3 | - | - | - | €1,570 | €6,061 | €1,485 | €3,325 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | €74,175 | €692 | €976 | €99,508 | €9,619 | ▼ 90.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,589 | -€22,124 | €54,268 | €38,527 | €21,689 | €33,869 | €26,928 | €4,355 | ▼ 83.8% |
| + Depreciation and write-downs630 | €837 | €5,975 | €5,138 | €6,152 | €8,589 | €9,864 | €8,994 | €8,994 | = |
| Operating cash flow (approximation) | €15,425 | -€16,149 | €59,406 | €44,678 | €30,278 | €43,733 | €35,921 | €13,349 | ▼ 62.8% |
| Investment in fixed assets (approximation) | - | -€17,779 | €0 | -€32,318 | -€2,392 | -€4,499 | €0 | €0 | - |
| Change in cash | - | -€37,123 | €59,337 | -€8,133 | -€18,245 | €28,135 | €51,920 | -€87,511 | - |
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 BIZZARC 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 BIZZARC 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 BIZZARC. 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 (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 27-05-2026 | 2026-00124922 | |
| 31-12-2024 | micro format | 21-05-2025 | 2025-00106492 | |
| 31-12-2023 | micro format | 16-05-2024 | 2024-00088542 | |
| 31-12-2022 | micro format | 25-05-2023 | 2023-00096745 | |
| 31-12-2021 | micro format | 23-05-2022 | 2022-20032631 | |
| 31-12-2020 | micro format | 08-06-2021 | 2021-18100262 | |
| 31-12-2019 | micro format | 29-05-2020 | 2020-13900087 | |
| 31-12-2018 | micro format | 16-05-2019 | 2019-13200348 | |
| 31-12-2017 | micro format | 29-05-2018 | 2018-14400146 | |
| 31-12-2016 | abbreviated format | 07-06-2017 | 2017-15100583 |