CHEMTECH
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 03-06-2026 PDF all 6 filings
Turnover
≈ €390,000
Estimated: probably between €140,000 and €1.0m
EBIT margin
Not included in this filing
Net result
€27,203▼ 44.4%
2024 · €48,907
Working capital
€331,652▼ 47.4%
2024 · €630,397
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€39,136
▼ 30.2%
2025
20212025
Net result
€27,203
▼ 44.4%
2025
middle half of the sector
20212025
Equity
€779,271
▲ 3.6%
2025
middle half of the sector
20212025
Total assets
€1.1m
▲ 2.3%
2025
lowest quarter of the sector
20212025
Debt
€352,501
▼ 0.4%
2025
20212025
Working capital
€331,652
▼ 47.4%
2025
middle half of the sector
20212025
Solvency
68.9%
▲ 0.9pp
2025
highest quarter of the sector
20212025
Current ratio
1.94
2025
middle half of the sector
20212025
Return on assets (ROA)
2.4%
▼ 2.0pp
2025
middle half of the sector
20212025
Staff (FTE)
0
2025
lowest quarter of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result€0.1m-€0.08m▼ 42.2%€0.08m▲ 1.6%€0.06m▼ 28.0%€0.04m▼ 30.2%
Net result€0.08mwithin the sector's middle half-€0.02mwithin the sector's middle half▼ 75.9%€0.05mwithin the sector's middle half▲ 167%€0.05mwithin the sector's middle half▼ 7.0%€0.03mwithin the sector's middle half▼ 44.4%
Equity€0.6mwithin the sector's middle half-€0.7mwithin the sector's middle half▲ 3.1%€0.7mwithin the sector's middle half▲ 8.1%€0.8mwithin the sector's middle half▲ 7.0%€0.8mwithin the sector's middle half▲ 3.6%
Total assets€0.6mbelow the sector's middle half-€1.0mwithin the sector's middle half▲ 58.9%€1.1mwithin the sector's middle half▲ 4.4%€1.1mwithin the sector's middle half▲ 4.2%€1.1mbelow the sector's middle half▲ 2.3%
Debt€0.009m-€0.4m▲ 42×€0.4m▼ 2.0%€0.4m▼ 1.2%€0.4m▼ 0.4%
Working capital€0.5mwithin the sector's middle half-€0.5mwithin the sector's middle half▼ 7.6%€0.6mwithin the sector's middle half▲ 15.2%€0.6mwithin the sector's middle half▲ 12.7%€0.3mwithin the sector's middle half▼ 47.4%
Solvency98.6%above the sector's middle half-64.0%above the sector's middle half▼ 34.6pp66.2%above the sector's middle half▲ 2.2pp68.0%above the sector's middle half▲ 1.8pp68.9%above the sector's middle half▲ 0.9pp
Current ratio61.26above the sector's middle half-32.02above the sector's middle half▼ 29.2468.57above the sector's middle half▲ 36.551.94within the sector's middle half
Return on assets (ROA)12.8%above the sector's middle half-1.9%within the sector's middle half▼ 10.8pp5.0%within the sector's middle half▲ 3.0pp4.4%within the sector's middle half▼ 0.5pp2.4%within the sector's middle half▼ 2.0pp
Staff (FTE)0below the sector's middle half0below the sector's middle half0below the sector's middle half
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 30% lower than in 2024 and the lowest since 2021. It is the second fall in a row.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€447,619 ▼ 5.1%
Current assets
€684,153 ▲ 7.9%
Equity and liabilities €1.1m
Equity
€779,271 ▲ 3.6%
Debt
€352,501 ▼ 0.4%
Debt's share of the balance-sheet total falls from 32.0% to 31.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€64,385▼
2024 · €81,189
Cash flow
€52,452▼
2024 · €74,040
Debt to equity
0.45▼
2024 · 0.47
ROE
3.5%▼
2024 · 6.5%
Interest coverage
9.97▼
2024 · 12.08
Debt ≤ 1 year
€352,501▲
2024 · €3,898
Debt > 1 year
€0▼
2024 · €350,000
Income taxes
€10,367▲
2024 · €3,272
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 | €1,777 | €477,300 | €3,271 | €3,308 | €1,198 |
| Intangible fixed assets | €10,180 | - | - | - | - |
| Financial fixed assets | €94,687 | - | €0 | €0 | €0 |
| Depreciation and write-downs of the year | €1,253 | €67,763 | €24,376 | €25,133 | €25,249 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,253 | €67,763 | €24,376 | €25,133 | €25,249 | ▲ 0.5% |
| Other operating charges640/8 | €409 | €2,828 | €2,080 | €3,056 | €2,814 | ▼ 7.9% |
| Gross operating margin9900 | €134,295 | €147,234 | €104,313 | €84,244 | €67,199 | ▼ 20.2% |
| Operating profit (loss)9901 | €132,633 | €76,644 | €77,857 | €56,056 | €39,136 | ▼ 30.2% |
| Financial income75/76B | - | €11,025 | €2,172 | €2,845 | €4,891 | ▲ 71.9% |
| Recurring financial income75 | - | €11,025 | €2,172 | €2,845 | €4,891 | ▲ 71.9% |
| Financial charges65/66B | €294 | €50,594 | €7,266 | €6,722 | €6,458 | ▼ 3.9% |
| Recurring financial charges65 | €294 | €50,594 | €7,266 | €6,722 | €6,458 | ▼ 3.9% |
| Profit (loss) for the period before taxes9903 | €132,339 | €37,075 | €72,764 | €52,179 | €37,570 | ▼ 28.0% |
| Income taxes67/77 | €50,595 | €17,384 | €20,171 | €3,272 | €10,367 | ▲ 217% |
| Profit (loss) for the period9904 | €81,744 | €19,691 | €52,593 | €48,907 | €27,203 | ▼ 44.4% |
| Profit (loss) for the period to be appropriated9905 | €81,744 | €19,691 | €52,593 | €48,907 | €27,203 | ▼ 44.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €0.6m | €1.0m | €1.1m | €1.1m | €1.1m | ▲ 2.3% |
| Fixed assets21/28 | €0.1m | €0.5m | €0.5m | €0.5m | €0.4m | ▼ 5.1% |
| Intangible fixed assets21 | €0.01m | €0.009m | €0.009m | €0.009m | €0.008m | ▼ 5.7% |
| Tangible fixed assets22/27 | €0.001m | €0.4m | €0.4m | €0.4m | €0.3m | ▼ 6.4% |
| Land and buildings22 | - | €0.4m | €0.4m | €0.3m | €0.3m | ▼ 5.1% |
| Furniture and vehicles24 | €0.001m | €0.03m | €0.02m | €0.02m | €0.02m | ▼ 27.1% |
| Other tangible fixed assets26 | - | - | €0.002m | - | - | - |
| Financial fixed assets28 | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | = |
| Current assets29/58 | €0.5m | €0.5m | €0.6m | €0.6m | €0.7m | ▲ 7.9% |
| Amounts receivable within one year40/41 | €0.08m | €0.02m | €0.04m | €0.03m | €0.03m | ▲ 15.4% |
| Trade receivables40 | €0.08m | €0.007m | €0.04m | €0.03m | €0.03m | ▲ 4.1% |
| Other amounts receivable41 | €0.001m | €0.02m | €0.003m | €0.003m | €0.006m | ▲ 134% |
| Current investments50/53 | €0.4m | €0 | €0.4m | €0.4m | €0.4m | ▲ 3.0% |
| Cash at bank and in hand54/58 | €0.06m | €0.5m | €0.2m | €0.2m | €0.3m | ▲ 14.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €0.6m | €1.0m | €1.1m | €1.1m | €1.1m | ▲ 2.3% |
| Equity10/15 | €0.6m | €0.7m | €0.7m | €0.8m | €0.8m | ▲ 3.6% |
| Contributions10/11 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Capital10 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Issued capital100 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Reserves13 | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Non-distributable reserves130/1 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Legal reserve130 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Distributable reserves133 | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Profit (loss) carried forward14 | €0.4m | €0.4m | €0.4m | €0.5m | €0.5m | ▲ 5.6% |
| Amounts payable17/49 | €0.009m | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 0.4% |
| Amounts payable after more than one year17 | - | €0.4m | €0.4m | €0.4m | €0 | ▼ 100% |
| Financial debts170/4 | - | €0.4m | €0.4m | €0.4m | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €0.009m | €0.02m | €0.008m | €0.004m | €0.4m | ▲ 90× |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €0.4m | - |
| Trade debts44 | €206 | €0.007m | €0.001m | €0.003m | €0.001m | ▼ 55.2% |
| Suppliers440/4 | €206 | €0.007m | €0.001m | €0.003m | €0.001m | ▼ 55.2% |
| Taxes, remuneration and social security45 | €0.009m | €0.009m | €0.007m | €0.001m | €0.001m | = |
| Taxes450/3 | €0.009m | €0.009m | €0.007m | €0.001m | €0.001m | = |
| Other amounts payable47/48 | - | - | - | €156 | €0.001m | ▲ 238% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €81,744 | €19,691 | €52,593 | €48,907 | €27,203 | ▼ 44.4% |
| + Depreciation and write-downs630 | €1,253 | €67,763 | €24,376 | €25,133 | €25,249 | ▲ 0.5% |
| Operating cash flow (approximation) | €82,998 | €87,454 | €76,969 | €74,040 | €52,452 | ▼ 29.2% |
| Investment in fixed assets (approximation) | - | -€477,300 | -€3,271 | -€2,981 | -€1,198 | ▲ 59.8% |
| Change in cash | - | €421,157 | -€310,855 | €80,020 | €34,520 | ▼ 56.9% |
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, 1,639 companies had the same profile as CHEMTECH has now. Two years later, 95.5% were still going and 0.5% had gone bankrupt.
- Small
- 5 to 10 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
95.5%
was still going
3.7%
stopped otherwise
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CHEMTECH 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 1,639 companies, not a prediction for CHEMTECH. 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 (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 03-06-2026 | 2026-00133984 | |
| 31-12-2024 | full format | 05-06-2025 | 2025-00120356 | |
| 31-12-2023 | full format | 07-06-2024 | 2024-00114943 | |
| 31-12-2022 | full format | 09-06-2023 | 2023-00115712 | |
| 31-12-2021 | full format | 23-08-2022 | 2022-20305659 | |
| 16-06-2021 | unclassified schema | 30-11-2021 | 2021-78600211 |