C2
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 17-03-2026 PDF all 2 filings
Every figure per financial year
The operating result for 2025 is 95% higher 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.
Staff
| Item | 31-12-2024 | 31-12-2025 |
|---|---|---|
| in full-time equivalents | 6.6 | 5 |
| Average over the year, in full-time equivalents | 5.2 | 5.8 |
Source: social balance sheet in the 2024 to 2025 annual accounts
Investments
| Item | 2024 | 2025 |
|---|---|---|
| Tangible fixed assets | €5,273 | €38,585 |
| Intangible fixed assets | €2,651 | - |
| Depreciation and write-downs of the year | €3,544 | €15,520 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Remuneration, social security and pensions62 | €158,468 | €268,315 | ▲ 69.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,544 | €15,520 | ▲ 338% |
| Other operating charges640/8 | €7,942 | €9,801 | ▲ 23.4% |
| Gross operating margin9900 | €185,988 | €324,938 | ▲ 74.7% |
| Operating profit (loss)9901 | €16,035 | €31,302 | ▲ 95.2% |
| Financial income75/76B | €0 | €0 | ▼ 33.3% |
| Recurring financial income75 | €0 | €0 | ▼ 33.3% |
| Financial charges65/66B | €55 | €878 | ▲ 16× |
| Recurring financial charges65 | €55 | €878 | ▲ 16× |
| Profit (loss) for the period before taxes9903 | €15,979 | €30,424 | ▲ 90.4% |
| Income taxes67/77 | €6,580 | €11,434 | ▲ 73.8% |
| Profit (loss) for the period9904 | €9,399 | €18,990 | ▲ 102% |
| Profit (loss) for the period to be appropriated9905 | €9,399 | €18,990 | ▲ 102% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €143,871 | €230,484 | ▲ 60.2% |
| Formation expenses20 | €305 | €0 | ▼ 100% |
| Fixed assets21/28 | €4,075 | €27,445 | ▲ 574% |
| Tangible fixed assets22/27 | €4,075 | €27,445 | ▲ 574% |
| Plant, machinery and equipment23 | €1,789 | €8,505 | ▲ 375% |
| Furniture and vehicles24 | €2,286 | €18,940 | ▲ 729% |
| Current assets29/58 | €139,492 | €203,039 | ▲ 45.6% |
| Amounts receivable within one year40/41 | €139,421 | €200,673 | ▲ 43.9% |
| Trade receivables40 | €113,597 | €190,495 | ▲ 67.7% |
| Other amounts receivable41 | €25,824 | €10,178 | ▼ 60.6% |
| Cash at bank and in hand54/58 | €70 | €2,366 | ▲ 34× |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €143,871 | €230,484 | ▲ 60.2% |
| Equity10/15 | €13,399 | €32,389 | ▲ 142% |
| Contributions10/11 | €4,000 | €4,000 | = |
| Reserves13 | - | €15,000 | - |
| Distributable reserves133 | - | €15,000 | - |
| Profit (loss) carried forward14 | €9,399 | €13,389 | ▲ 42.4% |
| Amounts payable17/49 | €130,472 | €198,095 | ▲ 51.8% |
| Amounts payable within one year42/48 | €130,472 | €198,095 | ▲ 51.8% |
| Trade debts44 | €90,982 | €127,219 | ▲ 39.8% |
| Suppliers440/4 | €90,982 | €127,219 | ▲ 39.8% |
| Taxes, remuneration and social security45 | €39,490 | €70,876 | ▲ 79.5% |
| Taxes450/3 | €6,941 | €21,302 | ▲ 207% |
| Remuneration and social security454/9 | €32,548 | €49,574 | ▲ 52.3% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €9,399 | €18,990 | ▲ 102% |
| + Depreciation and write-downs630 | €3,544 | €15,520 | ▲ 338% |
| Operating cash flow (approximation) | €12,943 | €34,510 | ▲ 167% |
| Investment in fixed assets (approximation) | - | -€38,890 | - |
| Change in cash | - | €2,296 | - |
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, 7,976 companies had the same profile as C2 has now. Two years later, 94.3% were still going and 3.6% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of C2 itself: 2.2% 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 7,976 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.