BUNTINX
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 20-06-2026 at the NBB all 29 filings
Turnover
≈ €150,000
Estimated: probably between €140,000 and €200,000
Total assets
€220,504▼ 7.4%
2024 · €238,087
Net result
€79,259▼ 8.8%
2024 · €86,907
Working capital
€207,086▼ 9.1%
2024 · €227,827
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€79,603
▼ 8.6%
2025
20182025
Net result
€79,259
▼ 8.8%
2025
highest quarter of the sector
20182025
Equity
€205,586
▼ 9.2%
2025
highest quarter of the sector
20182025
Total assets
€220,504
▼ 7.4%
2025
middle half of the sector
20182025
Debt
€14,918
▲ 26.9%
2025
20182025
Working capital
€207,086
▼ 9.1%
2025
highest quarter of the sector
20182025
Solvency
93.2%
▼ 1.8pp
2025
highest quarter of the sector
20182025
Current ratio
16.43
▼ 6.77
2025
highest quarter of the sector
20182025
Return on assets (ROA)
35.9%
▼ 0.6pp
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-€11,764--€6,763▲ 42.5%-€3,224▲ 52.3%€78,426€112,442▲ 43.4%€128,904▲ 14.6%€87,066▼ 32.5%€79,603▼ 8.6%
Net result-€11,825--€6,823▲ 42.3%-€3,534below the sector's middle half▲ 48.2%€78,294above the sector's middle half€112,305above the sector's middle half▲ 43.4%€128,773above the sector's middle half▲ 14.7%€86,907above the sector's middle half▼ 32.5%€79,259above the sector's middle half▼ 8.8%
Equity-€96,042--€102,865▼ 7.1%€20,048below the sector's middle half€98,341within the sector's middle half▲ 391%€210,646above the sector's middle half▲ 114%€339,420above the sector's middle half▲ 61.1%€226,327above the sector's middle half▼ 33.3%€205,586above the sector's middle half▼ 9.2%
Total assets€1,309-€1,117▼ 14.7%€37,064below the sector's middle half▲ 33×€112,883within the sector's middle half▲ 205%€229,961within the sector's middle half▲ 104%€353,086above the sector's middle half▲ 53.5%€238,087within the sector's middle half▼ 32.6%€220,504within the sector's middle half▼ 7.4%
Debt€97,352-€103,982▲ 6.8%€17,016▼ 83.6%€14,541▼ 14.5%€19,314▲ 32.8%€13,667▼ 29.2%€11,760▼ 14.0%€14,918▲ 26.9%
Working capital-€12,292--€13,807▼ 12.3%€21,548within the sector's middle half€99,841within the sector's middle half▲ 363%€212,146above the sector's middle half▲ 112%€340,920above the sector's middle half▲ 60.7%€227,827above the sector's middle half▼ 33.2%€207,086above the sector's middle half▼ 9.1%
Solvency54.1%within the sector's middle half87.1%above the sector's middle half▲ 33.0pp91.6%above the sector's middle half▲ 4.5pp96.1%above the sector's middle half▲ 4.5pp95.1%above the sector's middle half▼ 1.1pp93.2%above the sector's middle half▼ 1.8pp
Current ratio2.39within the sector's middle half8.66above the sector's middle half▲ 6.2712.91above the sector's middle half▲ 4.2529.02above the sector's middle half▲ 16.1123.21above the sector's middle half▼ 5.8116.43above the sector's middle half▼ 6.77
Return on assets (ROA)-9.5%below the sector's middle half69.4%above the sector's middle half▲ 78.9pp48.8%above the sector's middle half▼ 20.5pp36.5%above the sector's middle half▼ 12.4pp36.5%above the sector's middle half=35.9%within the sector's middle half▼ 0.6pp
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 9% lower than in 2024. 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
Equity and liabilities €220,504
Equity
€205,586 ▼ 9.2%
Debt
€14,918 ▲ 26.9%
Debt's share of the balance-sheet total rises from 4.9% to 6.8%. Equity is lower and debt is higher.
Key figures and ratios
Debt to equity
0.07▲
2024 · 0.05
ROE
38.6%▲
2024 · 38.4%
Debt ≤ 1 year
€13,418▲
2024 · €10,260
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
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 | €4,104 | - | - | - | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €578 | €512 | €364 | €505 | €520 | ▲ 2.8% |
| Gross operating margin9900 | -€6,961 | -€6,324 | -€2,814 | €79,004 | €112,953 | €129,267 | €87,571 | €80,123 | ▼ 8.5% |
| Operating profit (loss)9901 | -€11,764 | -€6,763 | -€3,224 | €78,426 | €112,442 | €128,904 | €87,066 | €79,603 | ▼ 8.6% |
| Recurring financial income75 | €83 | €41 | €27 | - | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €132 | €137 | €130 | €159 | €344 | ▲ 117% |
| Recurring financial charges65 | €144 | €101 | €337 | €132 | €137 | €130 | €159 | €344 | ▲ 117% |
| Profit (loss) for the period before taxes9903 | -€11,825 | -€6,823 | -€3,534 | €78,294 | €112,305 | €128,773 | €86,907 | €79,259 | ▼ 8.8% |
| Profit (loss) for the period9904 | -€11,825 | -€6,823 | -€3,534 | €78,294 | €112,305 | €128,773 | €86,907 | €79,259 | ▼ 8.8% |
| Profit (loss) for the period to be appropriated9905 | -€11,825 | -€6,823 | -€3,534 | €78,294 | €112,305 | €128,773 | €86,907 | €79,259 | ▼ 8.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1,309 | €1,117 | €37,064 | €112,883 | €229,961 | €353,086 | €238,087 | €220,504 | ▼ 7.4% |
| Current assets29/58 | €1,309 | €1,117 | €37,064 | €112,883 | €229,961 | €353,086 | €238,087 | €220,504 | ▼ 7.4% |
| Amounts receivable within one year40/41 | €847 | €1,013 | €30,250 | €30,250 | €46,100 | €75,625 | €30,250 | €60,500 | ▲ 100% |
| Trade receivables40 | - | - | - | €30,250 | €45,375 | €75,625 | €30,250 | €60,500 | ▲ 100% |
| Other amounts receivable41 | - | - | - | - | €725 | - | - | - | - |
| Cash at bank and in hand54/58 | €462 | €104 | €6,814 | €82,633 | €183,861 | €277,461 | €207,837 | €160,004 | ▼ 23.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1,309 | €1,117 | €37,064 | €112,883 | €229,961 | €353,086 | €238,087 | €220,504 | ▼ 7.4% |
| Equity10/15 | -€96,042 | -€102,865 | €20,048 | €98,341 | €210,646 | €339,420 | €226,327 | €205,586 | ▼ 9.2% |
| Contributions10/11 | €18,600 | €18,600 | - | €145,047 | €145,047 | €145,047 | €95,047 | €95,047 | = |
| Reserves13 | €105,825 | €105,825 | €105,825 | €105,825 | €65,599 | €194,373 | €131,280 | €110,539 | ▼ 15.8% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | - | - | - |
| Other1319 | - | - | - | €1,860 | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | - | €103,965 | €63,739 | €192,513 | €131,280 | €110,539 | ▼ 15.8% |
| Profit (loss) carried forward14 | -€220,468 | -€227,290 | -€230,825 | -€152,531 | - | - | - | - | - |
| Amounts payable17/49 | €97,352 | €103,982 | €17,016 | €14,541 | €19,314 | €13,667 | €11,760 | €14,918 | ▲ 26.9% |
| Amounts payable after more than one year17 | €82,250 | €87,558 | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €13,602 | €14,924 | €15,516 | €13,041 | €17,814 | €12,167 | €10,260 | €13,418 | ▲ 30.8% |
| Trade debts44 | €6,840 | €6,035 | €12,146 | €9,596 | €11,596 | €5,166 | €5,921 | €9,060 | ▲ 53.0% |
| Suppliers440/4 | - | - | - | €9,596 | €11,596 | €5,166 | €5,921 | €9,060 | ▲ 53.0% |
| Taxes, remuneration and social security45 | - | - | - | €3,445 | €6,218 | €7,001 | €4,338 | €4,358 | ▲ 0.5% |
| Taxes450/3 | - | - | - | €3,445 | €6,218 | €7,001 | €4,338 | €4,358 | ▲ 0.5% |
| Accrued charges and deferred income492/3 | - | - | - | €1,500 | €1,500 | €1,500 | €1,500 | €1,500 | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€11,825 | -€6,823 | -€3,534 | €78,294 | €112,305 | €128,773 | €86,907 | €79,259 | ▼ 8.8% |
| + Depreciation and write-downs630 | €4,104 | - | - | - | - | - | - | - | - |
| Operating cash flow (approximation) | -€7,721 | -€6,823 | -€3,534 | €78,294 | €112,305 | €128,773 | €86,907 | €79,259 | ▼ 8.8% |
| Change in cash | - | -€359 | €6,710 | €75,819 | €101,228 | €93,600 | -€69,625 | -€47,833 | ▲ 31.3% |
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, 31,368 companies had the same profile as BUNTINX has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BUNTINX 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 31,368 companies, not a prediction for BUNTINX. 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 29 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 20-06-2026 | 2026-00179150 | |
| 31-12-2024 | micro format | 03-06-2025 | 2025-00114895 | |
| 31-12-2023 | micro format | 28-06-2024 | 2024-00176795 | |
| 31-12-2022 | micro format | 13-06-2023 | 2023-00121289 | |
| 31-12-2021 | micro format | 16-06-2022 | 2022-20066749 | |
| 31-12-2020 | micro format | 01-07-2021 | 2021-28900454 | |
| 31-12-2019 | micro format | 03-09-2020 | 2020-50000491 | |
| 31-12-2018 | micro format | 05-08-2019 | 2019-43200385 | |
| 31-12-2017 | micro format | 02-07-2018 | 2018-25600267 | |
| 31-12-2016 | micro format | 28-08-2017 | 2017-48000007 |