Catalys
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 06-05-2026 PDF all 9 filings
Turnover
≈ €280,000
Estimated: probably between €210,000 and €350,000
Total assets
€819,420▲ 0.1%
2024 · €818,723
Net result
€20,983▼ 72.2%
2024 · €75,554
Working capital
-€2,744
2024 · €48,314
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€47,165
▼ 59.7%
2025
20182025
Net result
€20,983
▼ 72.2%
2025
middle half of the sector
20182025
Equity
€111,099
▼ 20.7%
2025
highest quarter of the sector
20182025
Total assets
€819,420
▲ 0.1%
2025
highest quarter of the sector
20182025
Debt
€708,321
▲ 4.4%
2025
20182025
Working capital
-€2,744
2025
middle half of the sector
20182025
Solvency
13.6%
▼ 3.6pp
2025
middle half of the sector
20182025
Current ratio
0.97
▼ 1.16
2025
middle half of the sector
20182025
Return on assets (ROA)
2.6%
▼ 6.7pp
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€31,063--€7,981-€28,443▼ 256%€24,558€58,625▲ 139%€7,198▼ 87.7%€117,175▲ 16×€47,165▼ 59.7%
Net result€24,327--€11,045-€29,574below the sector's middle half▼ 168%€22,896within the sector's middle half€42,803above the sector's middle half▲ 86.9%-€11,397below the sector's middle half€75,554above the sector's middle half€20,983within the sector's middle half▼ 72.2%
Equity€79,906-€75,061▼ 6.1%€45,487within the sector's middle half▼ 39.4%€68,383within the sector's middle half▲ 50.3%€87,685above the sector's middle half▲ 28.2%€76,288within the sector's middle half▼ 13.0%€140,116above the sector's middle half▲ 83.7%€111,099above the sector's middle half▼ 20.7%
Total assets€96,648-€133,403▲ 38.0%€101,823within the sector's middle half▼ 23.7%€124,652within the sector's middle half▲ 22.4%€629,906above the sector's middle half▲ 405%€777,070above the sector's middle half▲ 23.4%€818,723above the sector's middle half▲ 5.4%€819,420above the sector's middle half▲ 0.1%
Debt€16,743-€58,343▲ 248%€56,336▼ 3.4%€56,269▼ 0.1%€542,221▲ 864%€700,781▲ 29.2%€678,607▼ 3.2%€708,321▲ 4.4%
Working capital€11,951-€33,356▲ 179%€29,149above the sector's middle half▼ 12.6%€84,111above the sector's middle half▲ 189%€27,803within the sector's middle half▼ 66.9%€11,746within the sector's middle half▼ 57.8%€48,314above the sector's middle half▲ 311%-€2,744within the sector's middle half
Solvency82.7%-56.3%▼ 26.4pp44.7%within the sector's middle half▼ 11.6pp54.9%within the sector's middle half▲ 10.2pp13.9%within the sector's middle half▼ 40.9pp9.8%within the sector's middle half▼ 4.1pp17.1%within the sector's middle half▲ 7.3pp13.6%within the sector's middle half▼ 3.6pp
Current ratio1.71-5.53▲ 3.816.44above the sector's middle half▲ 0.9118.05above the sector's middle half▲ 11.611.78within the sector's middle half▼ 16.271.27within the sector's middle half▼ 0.512.13within the sector's middle half▲ 0.850.97within the sector's middle half▼ 1.16
Return on assets (ROA)25.2%--8.3%▼ 33.4pp-29.0%below the sector's middle half▼ 20.8pp18.4%within the sector's middle half▲ 47.4pp6.8%within the sector's middle half▼ 11.6pp-1.5%within the sector's middle half▼ 8.3pp9.2%within the sector's middle half▲ 10.7pp2.6%within the sector's middle half▼ 6.7pp
above
within
below
The sector band is the middle half of the companies in Food and beverage service activities (NACE 56). 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 60% 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.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €819,420
Fixed assets
€723,378 ▼ 0.6%
Current assets
€96,042 ▲ 5.4%
Equity and liabilities €819,420
Equity
€111,099 ▼ 20.7%
Debt
€708,321 ▲ 4.4%
Debt's share of the balance-sheet total rises from 82.9% to 86.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€75,245▼
2024 · €145,663
Cash flow
€49,063▼
2024 · €104,043
Debt to equity
6.38▲
2024 · 4.84
ROE
18.9%▼
2024 · 53.9%
Interest coverage
4.20▼
2024 · 7.72
Debt ≤ 1 year
€98,785▲
2024 · €42,845
Debt > 1 year
€601,048▼
2024 · €629,675
Income taxes
€8,253▼
2024 · €22,907
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 | €4,364 | €550,038 | €192,192 | €33,634 | €23,895 |
| Depreciation and write-downs of the year | €36,071 | €19,110 | €36,309 | €28,488 | €28,080 |
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 | - | - | - | - | - | €2,500 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €22,514 | €33,984 | €34,897 | €36,071 | €19,110 | €36,309 | €28,488 | €28,080 | ▼ 1.4% |
| Other operating charges640/8 | - | - | - | €449 | €652 | €4,708 | €3,844 | €3,963 | ▲ 3.1% |
| Gross operating margin9900 | €53,673 | €26,502 | €7,037 | €61,077 | €78,387 | €48,215 | €149,507 | €79,208 | ▼ 47.0% |
| Operating profit (loss)9901 | €31,063 | -€7,981 | -€28,443 | €24,558 | €58,625 | €7,198 | €117,175 | €47,165 | ▼ 59.7% |
| Financial income75/76B | - | - | - | €171 | €560 | €794 | €157 | €0 | ▼ 100% |
| Recurring financial income75 | €0 | - | - | €171 | €560 | €794 | €157 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €1,632 | €5,240 | €19,258 | €18,870 | €17,930 | ▼ 5.0% |
| Recurring financial charges65 | €88 | €202 | €1,130 | €1,632 | €5,240 | €19,258 | €18,870 | €17,930 | ▼ 5.0% |
| Profit (loss) for the period before taxes9903 | €30,975 | -€8,183 | -€29,574 | €23,098 | €53,945 | -€11,266 | €98,461 | €29,235 | ▼ 70.3% |
| Income taxes67/77 | €6,648 | €2,862 | €0 | €202 | €11,143 | €131 | €22,907 | €8,253 | ▼ 64.0% |
| Profit (loss) for the period9904 | €24,327 | -€11,045 | -€29,574 | €22,896 | €42,803 | -€11,397 | €75,554 | €20,983 | ▼ 72.2% |
| Profit (loss) for the period to be appropriated9905 | €24,327 | -€11,045 | -€29,574 | €22,896 | €42,803 | -€11,397 | €75,554 | €20,983 | ▼ 72.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €96,648 | €133,403 | €101,823 | €124,652 | €629,906 | €777,070 | €818,723 | €819,420 | ▲ 0.1% |
| Formation expenses20 | €0 | - | - | - | - | - | - | - | - |
| Fixed assets21/28 | €67,955 | €92,680 | €67,313 | €35,607 | €566,535 | €722,417 | €727,563 | €723,378 | ▼ 0.6% |
| Intangible fixed assets21 | €63,000 | €42,000 | €21,000 | €0 | - | - | - | - | - |
| Tangible fixed assets22/27 | €4,955 | €50,680 | €46,313 | €35,607 | €566,535 | €722,417 | €727,563 | €723,378 | ▼ 0.6% |
| Land and buildings22 | - | - | - | - | €544,437 | €714,292 | €723,138 | €721,055 | ▼ 0.3% |
| Plant, machinery and equipment23 | - | - | - | €3,753 | €3,695 | €3,636 | €2,462 | €1,801 | ▼ 26.8% |
| Furniture and vehicles24 | - | - | - | €31,854 | €18,403 | €4,489 | €1,963 | €521 | ▼ 73.4% |
| Financial fixed assets28 | €0 | - | - | - | - | - | - | - | - |
| Current assets29/58 | €28,694 | €40,724 | €34,509 | €89,045 | €63,371 | €54,652 | €91,159 | €96,042 | ▲ 5.4% |
| Stocks and contracts in progress3 | €0 | - | - | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €10,116 | €20,290 | €1,478 | €22,610 | €26,644 | €46,349 | €24,740 | €19,269 | ▼ 22.1% |
| Trade receivables40 | - | - | - | €16,561 | €16,159 | €34,249 | €18,342 | €19,258 | ▲ 5.0% |
| Other amounts receivable41 | - | - | - | €6,049 | €10,485 | €12,100 | €6,398 | €11 | ▼ 99.8% |
| Current investments50/53 | €0 | - | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €18,578 | €20,433 | €30,681 | €65,526 | €35,068 | €6,657 | €63,961 | €75,681 | ▲ 18.3% |
| Deferred charges and accrued income490/1 | - | - | - | €908 | €1,659 | €1,647 | €2,459 | €1,092 | ▼ 55.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €96,648 | €133,403 | €101,823 | €124,652 | €629,906 | €777,070 | €818,723 | €819,420 | ▲ 0.1% |
| Equity10/15 | €79,906 | €75,061 | €45,487 | €68,383 | €87,685 | €76,288 | €140,116 | €111,099 | ▼ 20.7% |
| Contributions10/11 | €12,400 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €67,506 | €56,461 | €26,887 | €49,783 | €69,085 | €57,688 | €121,516 | €92,499 | ▼ 23.9% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €0 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €0 | - | - | - | - |
| Distributable reserves133 | - | - | - | €47,923 | €69,085 | €57,688 | €121,516 | €92,499 | ▼ 23.9% |
| Profit (loss) carried forward14 | €0 | - | - | - | €0 | €0 | €0 | €0 | - |
| Provisions and deferred taxes16 | €0 | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €16,743 | €58,343 | €56,336 | €56,269 | €542,221 | €700,781 | €678,607 | €708,321 | ▲ 4.4% |
| Amounts payable after more than one year17 | €0 | €50,975 | €50,975 | €50,975 | €505,975 | €654,189 | €629,675 | €601,048 | ▼ 4.5% |
| Financial debts170/4 | - | - | - | €50,975 | €505,975 | €654,189 | €626,475 | €597,848 | ▼ 4.6% |
| Other amounts payable178/9 | - | - | - | - | - | - | €3,200 | €3,200 | = |
| Amounts payable within one year42/48 | €16,743 | €7,367 | €5,361 | €4,933 | €35,568 | €42,906 | €42,845 | €98,785 | ▲ 131% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | €26,787 | €27,714 | €28,626 | ▲ 3.3% |
| Financial debts43 | - | - | - | €59 | €559 | €141 | €32 | €865 | ▲ 27× |
| Credit institutions430/8 | - | - | - | €59 | €559 | €141 | €32 | €865 | ▲ 27× |
| Other loans439 | - | - | - | €0 | - | - | - | - | - |
| Trade debts44 | €63 | €2,489 | €1,294 | €2,550 | €3,429 | €509 | €243 | €70 | ▼ 71.4% |
| Suppliers440/4 | - | - | - | €2,550 | €3,429 | €509 | €243 | €70 | ▼ 71.4% |
| Taxes, remuneration and social security45 | - | - | - | €2,324 | €8,080 | €15,469 | €3,129 | €17,658 | ▲ 464% |
| Taxes450/3 | - | - | - | €2,324 | €8,080 | €15,469 | €3,129 | €17,658 | ▲ 464% |
| Other amounts payable47/48 | - | - | - | - | €23,500 | €0 | €11,727 | €51,566 | ▲ 340% |
| Accrued charges and deferred income492/3 | - | - | - | €360 | €677 | €3,687 | €6,087 | €8,487 | ▲ 39.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24,327 | -€11,045 | -€29,574 | €22,896 | €42,803 | -€11,397 | €75,554 | €20,983 | ▼ 72.2% |
| + Depreciation and write-downs630 | €22,514 | €33,984 | €34,897 | €36,071 | €19,110 | €36,309 | €28,488 | €28,080 | ▼ 1.4% |
| Operating cash flow (approximation) | €46,841 | €22,939 | €5,323 | €58,966 | €61,913 | €24,912 | €104,043 | €49,063 | ▼ 52.8% |
| Investment in fixed assets (approximation) | - | -€58,709 | -€9,530 | -€4,364 | -€550,038 | -€192,192 | -€33,634 | -€23,895 | ▲ 29.0% |
| Change in cash | - | €1,855 | €10,248 | €34,845 | -€30,458 | -€28,411 | €57,304 | €11,720 | ▼ 79.5% |
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, 2,372 companies had the same profile as Catalys has now. Two years later, 96.6% were still going and 1.8% had gone bankrupt.
- Small
- 5 to 10 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
96.6%
was still going
1.4%
stopped otherwise
1.8%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Catalys 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 2,372 companies, not a prediction for Catalys. 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 (9)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 06-05-2026 | 2026-00110574 | |
| 31-12-2024 | micro format | 27-06-2025 | 2025-00187517 | |
| 31-12-2023 | micro format | 28-06-2024 | 2024-00179076 | |
| 31-12-2022 | micro format | 12-07-2023 | 2023-00227257 | |
| 31-12-2021 | micro format | 25-07-2022 | 2022-20243341 | |
| 31-12-2020 | micro format | 26-07-2021 | 2021-39900188 | |
| 31-12-2019 | micro format | 30-07-2020 | 2020-37000319 | |
| 31-12-2018 | micro format | 18-07-2019 | 2019-35300119 | |
| 31-12-2017 | micro format | 03-07-2018 | 2018-29900327 |