Clauwaert Sofie
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 24-10-2025 PDF all 12 filings
Turnover
≈ €110,000
Estimated: probably between €66,000 and €200,000
Total assets
€335,395▼ 1.0%
2024 · €338,751
Net result
€12,524▼ 45.2%
2024 · €22,867
Working capital
€58,033▲ 12.6%
2024 · €51,531
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€23,223
▼ 35.0%
2025
20192025
Net result
€12,524
▼ 45.2%
2025
20192025
Equity
€183,633
▲ 7.3%
2025
20192025
Total assets
€335,395
▼ 1.0%
2025
20192025
Debt
€151,761
▼ 9.5%
2025
20192025
Working capital
€58,033
▲ 12.6%
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€27,178-€5,699▼ 79.0%€17,559▲ 208%€17,095▼ 2.6%€38,382▲ 125%€35,752▼ 6.9%€23,223▼ 35.0%
Net result€16,016--€498€8,995€6,860▼ 23.7%€27,236▲ 297%€22,867▼ 16.0%€12,524▼ 45.2%
Equity€105,648-€105,150▼ 0.5%€114,145▲ 8.6%€121,006▲ 6.0%€148,241▲ 22.5%€171,109▲ 15.4%€183,633▲ 7.3%
Total assets€336,480-€336,641=€331,155▼ 1.6%€321,133▼ 3.0%€329,134▲ 2.5%€338,751▲ 2.9%€335,395▼ 1.0%
Debt€230,832-€231,491▲ 0.3%€217,009▼ 6.3%€200,128▼ 7.8%€180,893▼ 9.6%€167,642▼ 7.3%€151,761▼ 9.5%
Working capital€49,279-€30,622▼ 37.9%€31,247▲ 2.0%€29,654▼ 5.1%€37,420▲ 26.2%€51,531▲ 37.7%€58,033▲ 12.6%
The operating result for 2025 is 35% lower than in 2024. It is the second fall in a row.
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 €335,395
Fixed assets
€267,320 ▼ 0.5%
Current assets
€68,074 ▼ 2.8%
Equity and liabilities €335,395
Equity
€183,633 ▲ 7.3%
Debt
€151,761 ▼ 9.5%
Debt's share of the balance-sheet total falls from 49.5% to 45.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€24,606▼
2024 · €36,976
Cash flow
€13,907▼
2024 · €24,091
Current ratio
6.78▲
2024 · 3.78
Debt to equity
0.83▼
2024 · 0.98
ROE
6.8%▼
2024 · 13.4%
ROA
3.7%▼
2024 · 6.8%
Interest coverage
3.24▼
2024 · 4.41
Debt ≤ 1 year
€10,042▼
2024 · €18,517
Debt > 1 year
€141,720▼
2024 · €149,126
Income taxes
€5,381▼
2024 · €6,444
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | €5,275 | €1,452 | - |
| Depreciation and write-downs of the year | €7,904 | €408 | €1,224 | €1,383 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €241 | €7,904 | €7,904 | €7,904 | €408 | €1,224 | €1,383 | ▲ 13.0% |
| Other operating charges640/8 | - | - | - | €2,577 | €2,394 | €1,948 | €2,488 | ▲ 27.7% |
| Gross operating margin9900 | €29,721 | €15,869 | €27,684 | €27,575 | €41,184 | €38,924 | €27,094 | ▼ 30.4% |
| Operating profit (loss)9901 | €27,178 | €5,699 | €17,559 | €17,095 | €38,382 | €35,752 | €23,223 | ▼ 35.0% |
| Financial income75/76B | - | - | - | €2,433 | €2,531 | €1,950 | €2,271 | ▲ 16.5% |
| Recurring financial income75 | €4,348 | €4,484 | €4,569 | €2,433 | €2,531 | €1,950 | €2,271 | ▲ 16.5% |
| Financial charges65/66B | - | - | - | €7,928 | €7,404 | €8,391 | €7,589 | ▼ 9.6% |
| Recurring financial charges65 | €9,837 | €9,161 | €8,569 | €7,928 | €7,404 | €8,391 | €7,589 | ▼ 9.6% |
| Profit (loss) for the period before taxes9903 | €21,689 | €1,022 | €13,559 | €11,599 | €33,510 | €29,311 | €17,905 | ▼ 38.9% |
| Income taxes67/77 | €5,673 | €1,520 | €4,564 | €4,739 | €6,274 | €6,444 | €5,381 | ▼ 16.5% |
| Profit (loss) for the period9904 | €16,016 | -€498 | €8,995 | €6,860 | €27,236 | €22,867 | €12,524 | ▼ 45.2% |
| Profit (loss) for the period to be appropriated9905 | €16,016 | -€498 | €8,995 | €6,860 | €27,236 | €22,867 | €12,524 | ▼ 45.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €336,480 | €336,641 | €331,155 | €321,133 | €329,134 | €338,751 | €335,395 | ▼ 1.0% |
| Fixed assets21/28 | €264,329 | €279,415 | €271,511 | €263,608 | €268,475 | €268,703 | €267,320 | ▼ 0.5% |
| Tangible fixed assets22/27 | €264,329 | €279,415 | €271,511 | €263,608 | €268,475 | €268,703 | €267,320 | ▼ 0.5% |
| Land and buildings22 | - | - | - | €263,608 | €267,024 | €267,184 | €266,528 | ▼ 0.2% |
| Plant, machinery and equipment23 | - | - | - | - | €1,451 | €1,519 | €0 | ▼ 100% |
| Furniture and vehicles24 | - | - | - | - | - | - | €793 | - |
| Current assets29/58 | €72,151 | €57,225 | €59,643 | €57,526 | €60,659 | €70,048 | €68,074 | ▼ 2.8% |
| Stocks and contracts in progress3 | €1,067 | - | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €63,905 | €56,101 | €57,758 | €54,556 | €45,989 | €49,323 | €38,751 | ▼ 21.4% |
| Trade receivables40 | - | - | - | €16,449 | €10,656 | €10,582 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | €38,107 | €35,333 | €38,741 | €38,751 | = |
| Cash at bank and in hand54/58 | €2,126 | €555 | €1,628 | €2,970 | €6,466 | €15,725 | €15,517 | ▼ 1.3% |
| Deferred charges and accrued income490/1 | - | - | - | - | €8,205 | €5,000 | €13,806 | ▲ 176% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €336,480 | €336,641 | €331,155 | €321,133 | €329,134 | €338,751 | €335,395 | ▼ 1.0% |
| Equity10/15 | €105,648 | €105,150 | €114,145 | €121,006 | €148,241 | €171,109 | €183,633 | ▲ 7.3% |
| Contributions10/11 | €4,920 | €4,920 | - | €4,920 | €4,920 | €19,800 | €19,800 | = |
| Reserves13 | €14,880 | €14,880 | €14,880 | €14,880 | €14,880 | - | €12,524 | - |
| Non-distributable reserves130/1 | - | - | - | €14,880 | €14,880 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €14,880 | €14,880 | - | - | - |
| Distributable reserves133 | - | - | - | - | - | - | €12,524 | - |
| Profit (loss) carried forward14 | €85,848 | €85,350 | €94,345 | €101,206 | €128,441 | €151,309 | €151,309 | = |
| Amounts payable17/49 | €230,832 | €231,491 | €217,009 | €200,128 | €180,893 | €167,642 | €151,761 | ▼ 9.5% |
| Amounts payable after more than one year17 | €207,960 | €204,887 | €188,613 | €172,256 | €157,653 | €149,126 | €141,720 | ▼ 5.0% |
| Financial debts170/4 | - | - | - | €172,256 | €157,653 | €149,126 | €141,720 | ▼ 5.0% |
| Amounts payable within one year42/48 | €22,872 | €26,604 | €28,396 | €27,871 | €23,240 | €18,517 | €10,042 | ▼ 45.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €20,922 | €19,008 | €14,661 | €7,364 | ▼ 49.8% |
| Trade debts44 | - | €2,424 | €2,563 | €2,210 | €2,542 | €3,412 | €2,678 | ▼ 21.5% |
| Suppliers440/4 | - | - | - | €2,210 | €2,542 | €3,412 | €2,678 | ▼ 21.5% |
| Taxes, remuneration and social security45 | - | - | - | €4,739 | €1,690 | €444 | €0 | ▼ 100% |
| Taxes450/3 | - | - | - | €4,739 | €1,690 | €444 | €0 | ▼ 100% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €16,016 | -€498 | €8,995 | €6,860 | €27,236 | €22,867 | €12,524 | ▼ 45.2% |
| + Depreciation and write-downs630 | €241 | €7,904 | €7,904 | €7,904 | €408 | €1,224 | €1,383 | ▲ 13.0% |
| Operating cash flow (approximation) | €16,256 | €7,406 | €16,899 | €14,764 | €27,644 | €24,091 | €13,907 | ▼ 42.3% |
| Investment in fixed assets (approximation) | - | -€22,990 | €0 | €0 | -€5,275 | -€1,452 | €0 | - |
| Change in cash | - | -€1,571 | €1,073 | €1,341 | €3,496 | €9,259 | -€208 | - |
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, 10,904 companies had the same profile as Clauwaert Sofie has now. Two years later, 95.1% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
95.1%
was still going
4.0%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of Clauwaert Sofie itself: 0.3% 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 10,904 companies, not a prediction for Clauwaert Sofie. 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 12 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2025 | micro format | 24-10-2025 | 2025-00548659 | |
| 31-03-2024 | micro format | 08-09-2024 | 2024-00459607 | |
| 31-03-2023 | micro format | 22-09-2023 | 2023-00451383 | |
| 31-03-2022 | micro format | 07-10-2022 | 2022-20459882 | |
| 31-03-2021 | micro format | 20-10-2021 | 2021-72700068 | |
| 31-03-2020 | micro format | 04-11-2020 | 2020-69000355 | |
| 31-03-2019 | micro format | 15-09-2019 | 2019-64600143 | |
| 31-03-2018 | micro format | 19-09-2018 | 2018-63800398 | |
| 31-03-2017 | micro format | 25-09-2017 | 2017-61900423 | |
| 31-03-2016 | abbreviated format | 16-09-2016 | 2016-59800307 |