CBA
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 09-07-2026 at the NBB all 42 filings
Turnover
€112,597▲ 2.5%
2024 · €109,806
EBIT margin
34.7%▼ 0.6pp
2024 · 35.3%
Net result
€20,426▲ 9.9%
2024 · €18,585
Working capital
€220,732▲ 224%
2024 · €68,055
In the rankings
#2 oldest company in Kaprijke, Administrative and support services sector#5 company by equity in Kaprijke, Administrative and support services sector#7 company by total assets in Kaprijke, Administrative and support services sector
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€112,597
▲ 2.5%
2025
20182025
Operating result
€39,116
▲ 0.9%
2025
20182025
Net result
€20,426
▲ 9.9%
2025
middle half of the sector
20182025
EBIT margin
34.7%
▼ 0.6pp
2025
20182025
Equity
€569,490
▲ 3.7%
2025
highest quarter of the sector
20182025
Total assets
€1.1m
▲ 2.5%
2025
highest quarter of the sector
20182025
Debt
€437,013
▲ 2.5%
2025
20182025
Working capital
€220,732
▲ 224%
2025
highest quarter of the sector
20182025
Solvency
52.0%
▲ 0.6pp
2025
middle half of the sector
20182025
Current ratio
10.60
▲ 6.95
2025
highest quarter of the sector
20182025
Return on assets (ROA)
1.9%
▲ 0.1pp
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
Turnover€0.1m€0.1m▲ 2.5%
Operating result-€0.001m-€0.03m€0.04m▲ 48.0%€119▼ 99.7%€0.04m▲ 316×€0.03m▼ 14.9%€0.04m▲ 20.9%€0.04m▲ 0.9%
Net result€0.3m-€0.01m▼ 94.9%€0.02mwithin the sector's middle half▲ 47.8%-€0.01mbelow the sector's middle half€0.02mwithin the sector's middle half€0.01mwithin the sector's middle half▼ 33.4%€0.02mwithin the sector's middle half▲ 45.7%€0.02mwithin the sector's middle half▲ 9.9%
EBIT margin35.3%34.7%▼ 0.6pp
Equity€0.5m-€0.5m▲ 2.8%€0.5mabove the sector's middle half▲ 4.0%€0.5mabove the sector's middle half▼ 2.6%€0.5mabove the sector's middle half▲ 3.8%€0.5mabove the sector's middle half▲ 2.5%€0.5mabove the sector's middle half▲ 3.5%€0.6mabove the sector's middle half▲ 3.7%
Total assets€0.8m-€0.9m▲ 24.8%€1.0mabove the sector's middle half▲ 3.6%€1.0mabove the sector's middle half▲ 3.8%€1.0mabove the sector's middle half▼ 1.2%€1.0mabove the sector's middle half▲ 2.8%€1.1mabove the sector's middle half▲ 3.1%€1.1mabove the sector's middle half▲ 2.5%
Debt€0.2m-€0.3m▲ 105%€0.4m▲ 4.8%€0.4m▲ 14.7%€0.4m▼ 6.5%€0.4m▲ 4.9%€0.4m▲ 4.3%€0.4m▲ 2.5%
Working capital€0.04m-€0.3m▲ 620%€0.3mabove the sector's middle half▲ 25.7%€0.06mwithin the sector's middle half▼ 81.3%€0.05mwithin the sector's middle half▼ 12.2%€0.1mabove the sector's middle half▲ 116%€0.07mwithin the sector's middle half▼ 41.7%€0.2mabove the sector's middle half▲ 224%
Solvency63.0%-51.9%▼ 11.1pp52.1%within the sector's middle half▲ 0.2pp48.9%within the sector's middle half▼ 3.2pp51.4%within the sector's middle half▲ 2.5pp51.2%within the sector's middle half▼ 0.2pp51.4%within the sector's middle half▲ 0.2pp52.0%within the sector's middle half▲ 0.6pp
Current ratio3.58-18.46▲ 14.8718.69above the sector's middle half▲ 0.234.41above the sector's middle half▼ 14.284.42above the sector's middle half▲ 0.016.40above the sector's middle half▲ 1.983.66within the sector's middle half▼ 2.7410.60above the sector's middle half▲ 6.95
Return on assets (ROA)34.9%-1.4%▼ 33.5pp2.0%within the sector's middle half▲ 0.6pp-1.3%below the sector's middle half▼ 3.3pp1.9%within the sector's middle half▲ 3.2pp1.2%within the sector's middle half▼ 0.7pp1.7%within the sector's middle half▲ 0.5pp1.9%within the sector's middle half▲ 0.1pp
above
within
below
The sector band is the middle half of the companies in Office administrative, office support and other business support activities (NACE 82). 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 1% higher than in 2024 and the highest since 2018. It is the second rise in a row, after the fall in 2023.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€851,672 ▼ 12.6%
Current assets
€243,716 ▲ 160%
Equity and liabilities €1.1m
Equity
€569,490 ▲ 3.7%
Provisions
€88,886 ▼ 4.3%
Debt
€437,013 ▲ 2.5%
Debt's share of the balance-sheet total stays at 39.9%.
Key figures and ratios
EBITDA
€83,951▲
2024 · €81,967
Cash flow
€65,261▲
2024 · €61,797
Debt to equity
0.77▼
2024 · 0.78
ROE
3.6%▲
2024 · 3.4%
Interest coverage
5.65▼
2024 · 5.89
Debt ≤ 1 year
€22,984▼
2024 · €25,617
Debt > 1 year
€313,709=
2024 · €313,709
Income taxes
€11,245▼
2024 · €11,738
Customer credit
192 days▲
2024 · 180 days
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 | €341,445 | €40,647 | €1,703 | €41,837 | - |
| Financial fixed assets | - | - | - | €78,000 | - |
| Depreciation and write-downs of the year | €36,801 | €42,953 | €42,286 | €43,212 | €44,835 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | - | - | €109,806 | €112,597 | ▲ 2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €39,979 | €39,263 | €38,731 | €36,801 | €42,953 | €42,286 | €43,212 | €44,835 | ▲ 3.8% |
| Other operating charges640/8 | - | - | - | €39,401 | €5,282 | €5,826 | €5,896 | €6,094 | ▲ 3.4% |
| Gross operating margin9900 | €46,068 | €69,690 | €81,304 | €76,322 | €85,922 | €80,168 | €87,863 | €90,045 | ▲ 2.5% |
| Operating profit (loss)9901 | -€590 | €25,148 | €37,227 | €119 | €37,688 | €32,056 | €38,755 | €39,116 | ▲ 0.9% |
| Financial income75/76B | - | - | - | - | - | €0 | €1,512 | €3,420 | ▲ 126% |
| Recurring financial income75 | €15 | €0 | €2 | - | - | €0 | €1,512 | €3,420 | ▲ 126% |
| Financial charges65/66B | - | - | - | €13,932 | €15,097 | €13,706 | €13,924 | €14,846 | ▲ 6.6% |
| Recurring financial charges65 | €8,718 | €12,910 | €13,052 | €13,932 | €15,097 | €13,706 | €13,924 | €14,846 | ▲ 6.6% |
| Profit (loss) for the period before taxes9903 | €377,396 | €12,238 | €24,177 | -€13,813 | €22,591 | €18,351 | €26,343 | €27,690 | ▲ 5.1% |
| Transfer from deferred taxes780 | - | - | - | €2,703 | €3,980 | €3,980 | €3,980 | €3,980 | = |
| Income taxes67/77 | - | €1,118 | €6,646 | €2,243 | €7,434 | €9,577 | €11,738 | €11,245 | ▼ 4.2% |
| Profit (loss) for the period9904 | €265,304 | €13,411 | €19,822 | -€13,353 | €19,137 | €12,754 | €18,585 | €20,426 | ▲ 9.9% |
| Transfer from tax-exempt reserves789 | - | - | - | €5,270 | €7,761 | €7,761 | €7,761 | €7,761 | = |
| Profit (loss) for the period to be appropriated9905 | -€2,535 | €17,877 | €24,289 | -€8,082 | €26,899 | €20,516 | €26,347 | €28,187 | ▲ 7.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.8m | €0.9m | €1.0m | €1.0m | €1.0m | €1.0m | €1.1m | €1.1m | ▲ 2.5% |
| Fixed assets21/28 | €0.7m | €0.7m | €0.6m | €0.9m | €0.9m | €0.9m | €1.0m | €0.9m | ▼ 12.6% |
| Tangible fixed assets22/27 | €0.7m | €0.7m | €0.6m | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | ▼ 5.0% |
| Land and buildings22 | - | - | - | €0.9m | €0.9m | €0.9m | €0.9m | €0.8m | ▼ 4.0% |
| Plant, machinery and equipment23 | - | - | - | €0.002m | €0.001m | €0.002m | €0.008m | €0.006m | ▼ 18.4% |
| Furniture and vehicles24 | - | - | - | €467 | €0.03m | €0.02m | €0.009m | €41 | ▼ 99.5% |
| Financial fixed assets28 | €41 | €41 | €41 | €41 | €41 | €41 | €0.08m | €41 | ▼ 99.9% |
| Current assets29/58 | €0.05m | €0.3m | €0.3m | €0.08m | €0.07m | €0.1m | €0.09m | €0.2m | ▲ 160% |
| Amounts receivable within one year40/41 | €0.02m | €0.04m | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | €0.06m | ▲ 9.5% |
| Trade receivables40 | - | - | - | €0.04m | €0.04m | €0.05m | €0.05m | €0.06m | ▲ 9.5% |
| Other amounts receivable41 | - | - | - | €0.006m | €0.006m | - | - | - | - |
| Current investments50/53 | - | - | - | - | - | €0.05m | - | €0.1m | - |
| Cash at bank and in hand54/58 | €0.02m | €0.2m | €0.3m | €0.03m | €0.02m | €0.04m | €0.04m | €0.07m | ▲ 84.6% |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | ▼ 36.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.8m | €0.9m | €1.0m | €1.0m | €1.0m | €1.0m | €1.1m | €1.1m | ▲ 2.5% |
| Equity10/15 | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.6m | ▲ 3.7% |
| Contributions10/11 | €0.1m | €0.1m | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Reserves13 | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.5m | ▲ 4.5% |
| Non-distributable reserves130/1 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Reserves not available under the articles1311 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Tax-exempt reserves132 | - | - | - | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 3.4% |
| Distributable reserves133 | - | - | - | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 13.6% |
| Provisions and deferred taxes16 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.09m | €0.09m | ▼ 4.3% |
| Deferred taxes168 | - | - | - | €0.1m | €0.1m | €0.1m | €0.09m | €0.09m | ▼ 4.3% |
| Amounts payable17/49 | €0.2m | €0.3m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | ▲ 2.5% |
| Amounts payable after more than one year17 | €0.2m | €0.3m | €0.3m | €0.4m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Other amounts payable178/9 | - | - | - | €0.4m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Amounts payable within one year42/48 | €0.01m | €0.01m | €0.02m | €0.02m | €0.02m | €0.02m | €0.03m | €0.02m | ▼ 10.3% |
| Trade debts44 | €229 | €35 | €354 | - | €88 | - | €0.001m | - | - |
| Suppliers440/4 | - | - | - | - | €88 | - | €0.001m | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.004m | €0.002m | €0.008m | €0.01m | €0.008m | ▼ 23.1% |
| Taxes450/3 | - | - | - | €0.004m | €0.002m | €0.008m | €0.01m | €0.008m | ▼ 23.1% |
| Other amounts payable47/48 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | ▲ 3.9% |
| Accrued charges and deferred income492/3 | - | - | - | €0.05m | €0.06m | €0.07m | €0.09m | €0.1m | ▲ 15.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €265,304 | €13,411 | €19,822 | -€13,353 | €19,137 | €12,754 | €18,585 | €20,426 | ▲ 9.9% |
| + Depreciation and write-downs630 | €39,979 | €39,263 | €38,731 | €36,801 | €42,953 | €42,286 | €43,212 | €44,835 | ▲ 3.8% |
| Operating cash flow (approximation) | €305,283 | €52,674 | €58,554 | €23,448 | €62,090 | €55,040 | €61,797 | €65,261 | ▲ 5.6% |
| Investment in fixed assets (approximation) | - | -€2,150 | -€2,019 | -€341,445 | -€40,647 | -€1,703 | -€119,837 | €78,000 | - |
| Change in cash | - | €208,846 | €66,520 | -€270,691 | -€11,530 | €17,830 | €2,186 | €32,202 | ▲ 15× |
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, 14,766 companies had the same profile as CBA has now. Two years later, 96.2% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
96.2%
was still going
3.5%
stopped otherwise
0.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CBA 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 14,766 companies, not a prediction for CBA. 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 42 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 09-07-2026 | 2026-00280848 | |
| 31-12-2024 | micro format | 21-07-2025 | 2025-00298427 | |
| 31-12-2023 | micro format | 29-07-2024 | 2024-00297430 | |
| 31-12-2022 | micro format | 31-07-2023 | 2023-00311424 | |
| 31-12-2021 | micro format | 24-08-2022 | 2022-20311873 | |
| 31-12-2020 | micro format | 29-07-2021 | 2021-42900433 | |
| 31-12-2019 | micro format | 27-07-2020 | 2020-34800155 | |
| 31-12-2018 | abbreviated format | 23-07-2019 | 2019-36300402 | |
| 31-12-2017 | micro format | 28-06-2018 | 2018-25000266 | |
| 31-12-2016 | micro format | 30-06-2017 | 2017-26000437 |