C²
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 15-12-2025 PDF all 2 filings
Every figure per financial year
The operating result for 2025 is 10% lower than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 30-06-2024 | 30-06-2025 |
|---|---|---|
| Tangible fixed assets | - | €3,600 |
| Depreciation and write-downs of the year | - | €503 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €503 | - |
| Other operating charges640/8 | €384 | €387 | ▲ 0.8% |
| Gross operating margin9900 | €30,717 | €28,181 | ▼ 8.3% |
| Operating profit (loss)9901 | €30,333 | €27,291 | ▼ 10.0% |
| Financial income75/76B | - | €106 | - |
| Recurring financial income75 | - | €106 | - |
| Financial charges65/66B | €411 | €379 | ▼ 7.8% |
| Recurring financial charges65 | €411 | €379 | ▼ 7.8% |
| Profit (loss) for the period before taxes9903 | €29,922 | €27,018 | ▼ 9.7% |
| Income taxes67/77 | €8,228 | €7,449 | ▼ 9.5% |
| Profit (loss) for the period9904 | €21,694 | €19,569 | ▼ 9.8% |
| Profit (loss) for the period to be appropriated9905 | €21,694 | €19,569 | ▼ 9.8% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €61,805 | €70,732 | ▲ 14.4% |
| Fixed assets21/28 | - | €3,097 | - |
| Tangible fixed assets22/27 | - | €3,097 | - |
| Furniture and vehicles24 | - | €3,097 | - |
| Current assets29/58 | €61,805 | €67,635 | ▲ 9.4% |
| Amounts receivable within one year40/41 | €59,131 | €62,517 | ▲ 5.7% |
| Trade receivables40 | €59,131 | €61,225 | ▲ 3.5% |
| Other amounts receivable41 | - | €1,292 | - |
| Cash at bank and in hand54/58 | €2,596 | €5,056 | ▲ 94.8% |
| Deferred charges and accrued income490/1 | €78 | €62 | ▼ 20.5% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €61,805 | €70,732 | ▲ 14.4% |
| Equity10/15 | €26,194 | €45,763 | ▲ 74.7% |
| Contributions10/11 | €4,500 | €4,500 | = |
| Reserves13 | €21,694 | €41,263 | ▲ 90.2% |
| Distributable reserves133 | €21,694 | €41,263 | ▲ 90.2% |
| Amounts payable17/49 | €35,611 | €24,969 | ▼ 29.9% |
| Amounts payable within one year42/48 | €27,603 | €11,491 | ▼ 58.4% |
| Trade debts44 | €8,373 | €7,696 | ▼ 8.1% |
| Suppliers440/4 | €8,373 | €7,696 | ▼ 8.1% |
| Taxes, remuneration and social security45 | €15,524 | €3,795 | ▼ 75.6% |
| Taxes450/3 | €15,524 | €3,795 | ▼ 75.6% |
| Other amounts payable47/48 | €3,706 | - | - |
| Accrued charges and deferred income492/3 | €8,008 | €13,478 | ▲ 68.3% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €21,694 | €19,569 | ▼ 9.8% |
| + Depreciation and write-downs630 | - | €503 | - |
| Operating cash flow (approximation) | €21,694 | €20,072 | ▼ 7.5% |
| Change in cash | - | €2,460 | - |
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, 39,278 companies had the same profile as C² has now. Two years later, 95.9% were still going and 1.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of C² itself: 0.5% 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 39,278 companies, not a prediction for C². 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.