CISSOID
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 18-06-2026 at the NBB all 25 filings
Turnover
≈ €9.0m
Estimated: probably between €7.0m and €13.0m
EBIT margin
Not included in this filing
Net result
€575,581
2024 · -€2.1m
Working capital
€3.2m▲ 297%
2024 · €808,432
In the rankings
#6 company by total assets in Mont-Saint-Guibert, Telecoms and IT sector#6 company by equity in Mont-Saint-Guibert, Telecoms and IT sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€652,323
2025
20182025
Net result
€575,581
2025
highest quarter of the sector
20182025
Equity
€3.2m
2025
highest quarter of the sector
20182025
Total assets
€6.4m
▲ 184%
2025
highest quarter of the sector
20182025
Debt
€3.0m
▼ 14.4%
2025
20182025
Working capital
€3.2m
▲ 297%
2025
highest quarter of the sector
20182025
Solvency
49.7%
▲ 103.5pp
2025
middle half of the sector
20182025
Current ratio
2.12
▲ 0.46
2025
middle half of the sector
20182025
Return on assets (ROA)
9.0%
▲ 101.8pp
2025
middle half of the sector
20182025
Staff (FTE)
9.3
▼ 41.5%
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-€0.7m--€0.6m▲ 16.3%-€0.6m▼ 1.4%-€0.4m▲ 31.4%-€0.4m▲ 9.5%-€1.0m▼ 169%-€2.2m▼ 112%€0.7m
Net result-€0.3m--€0.1m▲ 44.1%-€0.6mbelow the sector's middle half▼ 299%-€0.4mbelow the sector's middle half▲ 25.2%-€0.4mbelow the sector's middle half▲ 14.5%-€1.1mbelow the sector's middle half▼ 182%-€2.1mbelow the sector's middle half▼ 95.0%€0.6mabove the sector's middle half
Equity€1.6m-€1.2m▼ 21.3%€0.6mwithin the sector's middle half▼ 50.9%€0.1mwithin the sector's middle half▼ 84.3%€1.9mabove the sector's middle half▲ 20×€0.9mwithin the sector's middle half▼ 55.0%-€1.2mbelow the sector's middle half€3.2mabove the sector's middle half
Total assets€2.3m-€1.9m▼ 17.0%€1.3mwithin the sector's middle half▼ 31.3%€1.5mwithin the sector's middle half▲ 13.2%€3.4mwithin the sector's middle half▲ 124%€2.9mwithin the sector's middle half▼ 14.5%€2.3mwithin the sector's middle half▼ 21.7%€6.4mabove the sector's middle half▲ 184%
Debt€0.8m-€0.7m▼ 8.0%€0.7m▲ 3.4%€1.4m▲ 95.7%€1.4m▲ 0.7%€2.0m▲ 41.0%€3.5m▲ 73.1%€3.0m▼ 14.4%
Working capital€1.4m-€1.2m▼ 16.7%€0.6mabove the sector's middle half▼ 48.1%€0.8mabove the sector's middle half▲ 25.1%€2.3mabove the sector's middle half▲ 203%€1.1mabove the sector's middle half▼ 53.3%€0.8mwithin the sector's middle half▼ 24.2%€3.2mabove the sector's middle half▲ 297%
Solvency67.6%-64.1%▼ 3.5pp45.9%within the sector's middle half▼ 18.2pp6.4%below the sector's middle half▼ 39.5pp57.9%within the sector's middle half▲ 51.5pp30.5%within the sector's middle half▼ 27.4pp-53.8%below the sector's middle half▼ 84.3pp49.7%within the sector's middle half▲ 103.5pp
Current ratio3.66-3.17▼ 0.492.03within the sector's middle half▼ 1.142.10within the sector's middle half▲ 0.073.57above the sector's middle half▲ 1.461.68within the sector's middle half▼ 1.881.66within the sector's middle half▼ 0.022.12within the sector's middle half▲ 0.46
Return on assets (ROA)-11.4%--7.7%▲ 3.7pp-44.7%below the sector's middle half▼ 37.0pp-29.6%below the sector's middle half▲ 15.2pp-11.3%below the sector's middle half▲ 18.3pp-37.2%below the sector's middle half▼ 25.9pp-92.8%below the sector's middle half▼ 55.5pp9.0%within the sector's middle half▲ 101.8pp
Staff (FTE)5-5=5.6within the sector's middle half▲ 12.0%5within the sector's middle half▼ 10.7%7.1within the sector's middle half▲ 42.0%10.7within the sector's middle half▲ 50.7%15.9within the sector's middle half▲ 48.6%9.3within the sector's middle half▼ 41.5%
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). 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 a profit of €652,323, after a loss of €2.2m in 2024. It is the highest result since 2021.
Large changes and their cause
- 2025 Total assets +184% on 2024. Capital increase of €2,000,000 (Official Gazette 18-04-2025). Capital increase of €1,811,771 (Official Gazette 18-04-2025).
- 2022 Equity +1,932%, Total assets +124% on 2021. Capital increase of €2,234,280 (Official Gazette 02-06-2022).
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €6.4m
Fixed assets
€300,105 ▲ 37.4%
Current assets
€6.1m ▲ 199%
Equity and liabilities €6.4m
Equity
€3.2m
Provisions
€245,636
Debt
€3.0m
Debt's share of the balance-sheet total is 46.5%.
Key figures and ratios
EBITDA
€1.9m▲
2024 · -€437,825
Cash flow
€1.8m▲
2024 · -€351,629
Quick ratio
1.60▲
2024 · 0.77
Debt to equity
0.93
ROE
18.1%
Interest coverage
10.25▲
2024 · -6.57
Debt ≤ 1 year
€2.9m▲
2024 · €1.2m
Debt > 1 year
€32,696▼
2024 · €2.2m
Income taxes
€40,802▲
2024 · €1,627
Staff costs
€1.6m▼
2024 · €1.9m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 5 | 7 | 14 | 15 | 9 |
| full-time | 4 | 6 | 14 | 15 | 9 |
| part-time | 1 | 1 | - | - | - |
| in full-time equivalents | 4.8 | 7 | 14 | 15 | 9 |
| Average over the year, in full-time equivalents | 4.8 | 7.1 | 10.7 | 15.9 | 9.3 |
| On a permanent contract | 5 | 7 | 13 | 15 | 9 |
| Joined | 0 | 3 | 9 | 8 | 1 |
| Left | 1 | 1 | 1 | 3 | 2 |
| Training hours | 22 | 27 | 189 | 80 | 142 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €463,949 | €453,949 | €481,206 | - | €312,068 |
| Debts guaranteed by Belgian public bodies | €240,000 | €240,000 | €286,201 | - | - |
| Pledge on the business | €600,000 | €600,000 | €600,000 | €600,000 | €600,000 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €10,904 | €111,967 | €94,397 | €25,114 | €139,278 |
| Intangible fixed assets | €522,278 | €638,063 | €1.4m | €1.7m | €1.2m |
| Financial fixed assets | - | €15,674 | €4,883 | - | - |
| Depreciation and write-downs of the year | €609,594 | €637,445 | €1.4m | €1.7m | €1.3m |
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 | - | - | - | - | €345 | €0.003m | - | €0.03m | - |
| Remuneration, social security and pensions62 | - | - | - | €0.5m | €0.7m | €1.4m | €1.9m | €1.6m | ▼ 12.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.9m | €0.8m | €0.9m | €0.6m | €0.6m | €1.4m | €1.7m | €1.3m | ▼ 27.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€0.06m | -€0.01m | -€0.02m | €0.01m | -€0.01m | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | - | - | - | €0.2m | - |
| Other operating charges640/8 | - | - | - | €0.003m | - | €289 | €335 | €292 | ▼ 12.8% |
| Non-recurring operating charges66A | - | - | - | - | - | - | - | €0.004m | - |
| Gross operating margin9900 | €0.7m | €0.8m | €0.9m | €0.6m | €0.9m | €1.7m | €1.4m | €3.8m | ▲ 164% |
| Operating profit (loss)9901 | -€0.7m | -€0.6m | -€0.6m | -€0.4m | -€0.4m | -€1.0m | -€2.2m | €0.7m | - |
| Financial income75/76B | - | - | - | €0.05m | €0.2m | €0.09m | €0.2m | €0.2m | ▼ 1.8% |
| Recurring financial income75 | €0.5m | €0.5m | €0.08m | €0.05m | €0.2m | €0.09m | €0.2m | €0.2m | ▼ 1.8% |
| Financial charges65/66B | - | - | - | €0.07m | €0.2m | €0.1m | €0.07m | €0.2m | ▲ 181% |
| Recurring financial charges65 | €0.07m | €0.06m | €0.06m | €0.07m | €0.2m | €0.1m | €0.07m | €0.2m | ▲ 181% |
| Profit (loss) for the period before taxes9903 | -€0.3m | -€0.1m | -€0.6m | -€0.4m | -€0.4m | -€1.1m | -€2.1m | €0.6m | - |
| Income taxes67/77 | €0.001m | €0.001m | €16 | €0.001m | €0.001m | €0.002m | €0.002m | €0.04m | ▲ 25× |
| Profit (loss) for the period9904 | -€0.3m | -€0.1m | -€0.6m | -€0.4m | -€0.4m | -€1.1m | -€2.1m | €0.6m | - |
| Profit (loss) for the period to be appropriated9905 | -€0.3m | -€0.1m | -€0.6m | -€0.4m | -€0.4m | -€1.1m | -€2.1m | €0.6m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.3m | €1.9m | €1.3m | €1.5m | €3.4m | €2.9m | €2.3m | €6.4m | ▲ 184% |
| Fixed assets21/28 | €0.4m | €0.2m | €0.1m | €0.07m | €0.2m | €0.3m | €0.2m | €0.3m | ▲ 37.4% |
| Intangible fixed assets21 | €0.4m | €0.2m | €0.07m | €0.006m | €0.04m | €0.04m | €0.04m | €0.04m | ▲ 11.5% |
| Tangible fixed assets22/27 | €0.04m | €0.08m | €0.07m | €0.05m | €0.1m | €0.2m | €0.2m | €0.2m | ▲ 51.9% |
| Plant, machinery and equipment23 | - | - | - | €0.05m | €0.06m | €0.1m | €0.09m | €0.2m | ▲ 104% |
| Furniture and vehicles24 | - | - | - | €213 | €0.07m | €0.07m | €0.06m | €0.05m | ▼ 14.9% |
| Other tangible fixed assets26 | - | - | - | - | €0.004m | €0.007m | €0.006m | €0.005m | ▼ 12.3% |
| Financial fixed assets28 | €0.001m | €0.006m | €0.009m | €0.009m | €0.02m | €0.03m | €0.02m | €0.02m | ▼ 26.0% |
| Current assets29/58 | €1.9m | €1.7m | €1.2m | €1.4m | €3.2m | €2.6m | €2.0m | €6.1m | ▲ 199% |
| Stocks and contracts in progress3 | €0.4m | €0.4m | €0.4m | €0.4m | €0.8m | €1.4m | €1.1m | €1.5m | ▲ 36.0% |
| Stocks30/36 | - | - | - | €0.4m | €0.8m | €1.4m | €1.1m | €1.5m | ▲ 36.0% |
| Amounts receivable within one year40/41 | €0.4m | €0.6m | €0.2m | €0.2m | €0.4m | €0.3m | €0.3m | €0.8m | ▲ 170% |
| Trade receivables40 | - | - | - | €0.08m | €0.3m | €0.2m | €0.3m | €0.8m | ▲ 193% |
| Other amounts receivable41 | - | - | - | €0.07m | €0.04m | €0.05m | €0.03m | €0.02m | ▼ 33.6% |
| Current investments50/53 | - | - | - | - | - | - | - | €0.7m | - |
| Cash at bank and in hand54/58 | €1.0m | €0.7m | €0.5m | €0.9m | €2.0m | €0.9m | €0.6m | €3.0m | ▲ 430% |
| Deferred charges and accrued income490/1 | - | - | - | €0.02m | €0.05m | €0.06m | €0.09m | €0.1m | ▲ 20.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.3m | €1.9m | €1.3m | €1.5m | €3.4m | €2.9m | €2.3m | €6.4m | ▲ 184% |
| Equity10/15 | €1.6m | €1.2m | €0.6m | €0.1m | €1.9m | €0.9m | -€1.2m | €3.2m | - |
| Contributions10/11 | €1.7m | €1.7m | €1.7m | €1.7m | €2.8m | €2.8m | €2.8m | €4.7m | ▲ 68.9% |
| Capital10 | - | - | - | €1.7m | €2.8m | €2.8m | €2.8m | €4.7m | ▲ 68.9% |
| Issued capital100 | - | - | - | €1.7m | €2.8m | €2.8m | €2.8m | €4.7m | ▲ 68.9% |
| Profit (loss) carried forward14 | -€0.4m | -€0.6m | -€1.2m | -€1.6m | -€0.8m | -€1.9m | -€4.0m | -€1.5m | ▲ 62.0% |
| Provisions and deferred taxes16 | - | - | - | - | - | - | - | €0.2m | - |
| Provisions for liabilities and charges160/5 | - | - | - | - | - | - | - | €0.2m | - |
| Other liabilities and charges164/5 | - | - | - | - | - | - | - | €0.2m | - |
| Amounts payable17/49 | €0.8m | €0.7m | €0.7m | €1.4m | €1.4m | €2.0m | €3.5m | €3.0m | ▼ 14.4% |
| Amounts payable after more than one year17 | €0.2m | €0.2m | €0.1m | €0.7m | €0.5m | €0.3m | €2.2m | €0.03m | ▼ 98.5% |
| Financial debts170/4 | - | - | - | €0.6m | €0.5m | €0.3m | €2.2m | €0.02m | ▼ 99.1% |
| Other amounts payable178/9 | - | - | - | €0.04m | €0.03m | €0.03m | €0.02m | €0.01m | ▼ 33.3% |
| Amounts payable within one year42/48 | €0.5m | €0.5m | €0.6m | €0.7m | €0.9m | €1.6m | €1.2m | €2.9m | ▲ 134% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.09m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 6.2% |
| Financial debts43 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 1.0% |
| Credit institutions430/8 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 1.0% |
| Trade debts44 | €0.2m | €0.2m | €0.2m | €0.1m | €0.3m | €0.5m | €0.4m | €0.8m | ▲ 107% |
| Suppliers440/4 | - | - | - | €0.1m | €0.3m | €0.5m | €0.4m | €0.8m | ▲ 107% |
| Advances received on contracts in progress46 | - | - | - | €0.1m | €0.06m | €0.3m | €0.1m | €1.0m | ▲ 628% |
| Taxes, remuneration and social security45 | - | - | - | €0.04m | €0.07m | €0.3m | €0.3m | €0.6m | ▲ 132% |
| Taxes450/3 | - | - | - | €0.001m | €0.004m | €0.003m | €0.05m | €0.05m | ▲ 7.7% |
| Remuneration and social security454/9 | - | - | - | €0.03m | €0.06m | €0.3m | €0.2m | €0.6m | ▲ 159% |
| Accrued charges and deferred income492/3 | - | - | - | €0.05m | €0.03m | €0.1m | €0.07m | €0.06m | ▼ 10.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.3m | -€0.1m | -€0.6m | -€0.4m | -€0.4m | -€1.1m | -€2.1m | €0.6m | - |
| + Depreciation and write-downs630 | €0.9m | €0.8m | €0.9m | €0.6m | €0.6m | €1.4m | €1.7m | €1.3m | ▼ 27.0% |
| Operating cash flow (approximation) | €0.6m | €0.7m | €0.3m | €0.2m | €0.3m | €0.3m | -€0.4m | €1.8m | - |
| Investment in fixed assets (approximation) | - | -€0.6m | -€0.8m | -€0.5m | -€0.8m | -€1.5m | -€1.7m | -€1.4m | ▲ 20.7% |
| Change in cash | - | -€0.4m | -€0.2m | €0.4m | €1.1m | -€1.1m | -€0.3m | €2.4m | - |
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, 31,368 companies had the same profile as CISSOID has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CISSOID 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 31,368 companies, not a prediction for CISSOID. 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 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 18-06-2026 | 2026-00178036 | |
| 31-12-2024 | full format | 17-06-2025 | 2025-00155992 | |
| 31-12-2023 | full format | 05-07-2024 | 2024-00217818 | |
| 31-12-2022 | full format | 22-06-2023 | 2023-00150223 | |
| 31-12-2021 | full format | 13-06-2022 | 2022-20070982 | |
| 31-12-2020 | full format | 21-06-2021 | 2021-22400112 | |
| 31-12-2019 | full format | 12-06-2020 | 2020-17700341 | |
| 31-12-2018 | full format | 06-06-2019 | 2019-16900136 | |
| 31-12-2017 | full format | 21-06-2018 | 2018-22300492 | |
| 31-12-2016 | full format | 15-06-2017 | 2017-19100144 |