CLIC AFER
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 2 days after the deadline Filed on 2 February 2026, deadline 31 January 2026 (7 months after the close on 30 June 2025, Companies Code art. 3:10). Source: NBB, 2026-00031161.
Annual accounts 2025 filed on 02-02-2026 PDF all 21 filings
Turnover
≈ €95,000
Estimated: probably between €68,000 and €150,000
Total assets
€4,601▼ 80.1%
2024 · €23,077
Net result
-€6,815▲ 35.7%
2024 · -€10,606
Working capital
-€6,746▼ 531%
2024 · -€1,068
Multi-year overview
2019 to 2025, 6 financial yearsOperating result
-€3,472
▲ 59.1%
2025
20192025
Net result
-€6,815
▲ 35.7%
2025
lowest quarter of the sector
20192025
Equity
-€6,295
2025
lowest quarter of the sector
20192025
Total assets
€4,601
▼ 80.1%
2025
lowest quarter of the sector
20192025
Debt
€10,896
▼ 51.7%
2025
20192025
Working capital
-€6,746
▼ 531%
2025
lowest quarter of the sector
20192025
Solvency
no figure
2025
20192025
Current ratio
no figure
2025
20192025
Return on assets (ROA)
no figure
2025
20192025
Staff (FTE)
1
=
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201920202021202320242025
Operating result€8,827-€5,532▼ 37.3%€22,784▲ 312%-€8,836--€8,486▲ 4.0%-€3,472▲ 59.1%
Net result€6,218-€2,872below the sector's middle half▼ 53.8%€18,267within the sector's middle half▲ 536%-€9,355below the sector's middle half--€10,606below the sector's middle half▼ 13.4%-€6,815below the sector's middle half▲ 35.7%
Equity€14,923-€15,194below the sector's middle half▲ 1.8%€20,461below the sector's middle half▲ 34.7%€11,126below the sector's middle half-€520below the sector's middle half▼ 95.3%-€6,295below the sector's middle half
Total assets€66,319-€74,424below the sector's middle half▲ 12.2%€69,066below the sector's middle half▼ 7.2%€39,593below the sector's middle half-€23,077below the sector's middle half▼ 41.7%€4,601below the sector's middle half▼ 80.1%
Debt€51,396-€59,229▲ 15.2%€48,605▼ 17.9%€28,467-€22,556▼ 20.8%€10,896▼ 51.7%
Working capital-€14,050--€8,243below the sector's middle half▲ 41.3%-€80below the sector's middle half▲ 99.0%€6,025below the sector's middle half--€1,068below the sector's middle half-€6,746below the sector's middle half▼ 531%
Solvency22.5%-20.4%below the sector's middle half▼ 2.1pp29.6%within the sector's middle half▲ 9.2pp28.1%below the sector's middle half-2.3%below the sector's middle half▼ 25.8pp
Current ratio0.59-0.83below the sector's middle half▲ 0.241.00below the sector's middle half▲ 0.171.21below the sector's middle half-0.95below the sector's middle half▼ 0.26
Return on assets (ROA)9.4%-3.9%within the sector's middle half▼ 5.5pp26.4%above the sector's middle half▲ 22.6pp-23.6%below the sector's middle half--46.0%below the sector's middle half▼ 22.3pp
Staff (FTE)0.6-0.6below the sector's middle half=1-1=1=
above
within
below
The sector band is the middle half of the companies in Legal and accounting activities (NACE 69). 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 loss of €3,472, smaller than the loss of €8,486 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 €4,601
Fixed assets
€451 ▼ 71.6%
Current assets
€4,150 ▼ 80.7%
Equity and liabilities
Equity-€6,295
Debt€10,896
Equity is negative. Debt (€10,896) exceeds the balance-sheet total (€4,601).
Key figures and ratios
EBITDA
-€2,334▲
2024 · -€4,955
Cash flow
-€5,678▲
2024 · -€7,076
Interest coverage
-0.70▲
2024 · -2.34
Debt ≤ 1 year
€10,896▼
2024 · €22,556
Staff costs
€14,943▼
2024 · €15,711
The ratios are withheld because a balance sheet total of €4,601 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-06-2021 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 1 |
| part-time | 1 | 1 | 1 | 1 |
| in full-time equivalents | 0.6 | 0.6 | 0.3 | 0.3 |
| Average over the year, in full-time equivalents | - | 0.6 | 0.3 | 0.3 |
| On a permanent contract | 1 | 1 | 1 | 1 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 30-06-2021 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €2,147 | €2,653 | €412 | - |
| Depreciation and write-downs of the year | €12,814 | €14,230 | €3,530 | €1,138 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €2,500 | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | €21,119 | €24,437 | €15,711 | €14,943 | ▼ 4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,840 | €14,014 | €12,814 | €14,230 | €3,530 | €1,138 | ▼ 67.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | €6,000 | - |
| Other operating charges640/8 | - | - | €402 | €348 | €384 | €1,184 | ▲ 208% |
| Non-recurring operating charges66A | - | - | - | - | €395 | - | - |
| Gross operating margin9900 | €41,225 | €38,048 | €57,119 | €30,180 | €11,534 | €19,793 | ▲ 71.6% |
| Operating profit (loss)9901 | €8,827 | €5,532 | €22,784 | -€8,836 | -€8,486 | -€3,472 | ▲ 59.1% |
| Financial income75/76B | - | - | - | - | €0 | - | - |
| Recurring financial income75 | - | €1 | - | - | €0 | - | - |
| Financial charges65/66B | - | - | €1,354 | €321 | €2,121 | €3,344 | ▲ 57.7% |
| Recurring financial charges65 | €1,130 | €1,162 | €1,354 | €321 | €2,121 | €3,344 | ▲ 57.7% |
| Profit (loss) for the period before taxes9903 | €7,697 | €4,371 | €21,430 | -€9,156 | -€10,606 | -€6,815 | ▲ 35.7% |
| Income taxes67/77 | €1,479 | €1,500 | €3,163 | €199 | - | - | - |
| Profit (loss) for the period9904 | €6,218 | €2,872 | €18,267 | -€9,355 | -€10,606 | -€6,815 | ▲ 35.7% |
| Profit (loss) for the period to be appropriated9905 | €6,218 | €2,872 | €18,267 | -€9,355 | -€10,606 | -€6,815 | ▲ 35.7% |
| Line | 2019 | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €66,319 | €74,424 | €69,066 | €39,593 | €23,077 | €4,601 | ▼ 80.1% |
| Fixed assets21/28 | €46,085 | €35,072 | €24,405 | €5,101 | €1,589 | €451 | ▼ 71.6% |
| Tangible fixed assets22/27 | €46,060 | €35,047 | €24,380 | €5,101 | €1,589 | €451 | ▼ 71.6% |
| Furniture and vehicles24 | - | - | €2,153 | €3,922 | €962 | €138 | ▼ 85.7% |
| Other tangible fixed assets26 | - | - | €22,227 | €1,179 | €626 | €313 | ▼ 50.0% |
| Financial fixed assets28 | €25 | €25 | €25 | - | - | - | - |
| Current assets29/58 | €20,234 | €39,352 | €44,661 | €34,492 | €21,488 | €4,150 | ▼ 80.7% |
| Amounts receivable within one year40/41 | €18,468 | €18,917 | €23,143 | €30,047 | €20,855 | €1,146 | ▼ 94.5% |
| Trade receivables40 | - | - | €23,143 | €30,047 | €20,855 | €1,146 | ▼ 94.5% |
| Cash at bank and in hand54/58 | €665 | €19,796 | €21,272 | €4,445 | €633 | €2,492 | ▲ 294% |
| Deferred charges and accrued income490/1 | - | - | €246 | - | - | €513 | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €66,319 | €74,424 | €69,066 | €39,593 | €23,077 | €4,601 | ▼ 80.1% |
| Equity10/15 | €14,923 | €15,194 | €20,461 | €11,126 | €520 | -€6,295 | - |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Capital10 | - | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Issued capital100 | - | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Non-distributable reserves130/1 | - | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Legal reserve130 | - | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Profit (loss) carried forward14 | -€5,528 | -€5,257 | €10 | -€9,325 | -€19,931 | -€26,746 | ▼ 34.2% |
| Amounts payable17/49 | €51,396 | €59,229 | €48,605 | €28,467 | €22,556 | €10,896 | ▼ 51.7% |
| Amounts payable after more than one year17 | €17,112 | €10,488 | €3,864 | - | - | - | - |
| Other amounts payable178/9 | - | - | €3,864 | - | - | - | - |
| Amounts payable within one year42/48 | €34,284 | €47,595 | €44,741 | €28,467 | €22,556 | €10,896 | ▼ 51.7% |
| Current portion of amounts payable after more than one year42 | - | - | €6,624 | - | - | - | - |
| Trade debts44 | €6,428 | €14,220 | €6,994 | €3,088 | €140 | €1,323 | ▲ 844% |
| Suppliers440/4 | - | - | €6,994 | €3,088 | €140 | €1,323 | ▲ 844% |
| Taxes, remuneration and social security45 | - | - | €10,433 | €7,332 | €3,484 | €2,581 | ▼ 25.9% |
| Taxes450/3 | - | - | €8,469 | €5,268 | €2,538 | €1,553 | ▼ 38.8% |
| Remuneration and social security454/9 | - | - | €1,964 | €2,065 | €946 | €1,028 | ▲ 8.7% |
| Other amounts payable47/48 | - | - | €20,690 | €18,046 | €18,933 | €6,992 | ▼ 63.1% |
| Line | 2019 | 2020 | 2021 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,218 | €2,872 | €18,267 | -€9,355 | -€10,606 | -€6,815 | ▲ 35.7% |
| + Depreciation and write-downs630 | €13,840 | €14,014 | €12,814 | €14,230 | €3,530 | €1,138 | ▼ 67.8% |
| Operating cash flow (approximation) | €20,058 | €16,885 | €31,080 | €4,876 | -€7,076 | -€5,678 | ▲ 19.8% |
| Investment in fixed assets (approximation) | - | -€3,001 | -€2,147 | - | -€18 | €0 | - |
| Change in cash | - | €19,131 | €1,476 | - | -€3,812 | €1,859 | - |
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, 6,619 companies had the same profile as CLIC AFER has now. Two years later, 84.5% were still going and 4.5% had gone bankrupt.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
84.5%
was still going
10.0%
stopped otherwise
4.5%
went bankrupt
Another 1.0% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of CLIC AFER itself is lower: 0.2% within 12 months. It rests on far more data about CLIC AFER than the profile alone.
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 6,619 companies, not a prediction for CLIC AFER. 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 21 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 02-02-2026 | 2026-00031161 | |
| 30-06-2024 | micro format | 27-04-2025 | 2025-00076818 | |
| 30-06-2023 | micro format | 27-04-2025 | 2025-00076816 | |
| 30-06-2021 | micro format | 23-05-2022 | 2022-20031987 | |
| 30-06-2020 | micro format | 11-02-2021 | 2021-05100560 | |
| 30-06-2019 | micro format | 06-03-2020 | 2020-06400526 | |
| 30-06-2018 | micro format | 07-06-2019 | 2019-17800090 | |
| 30-06-2017 | micro format | 22-05-2018 | 2018-13300541 | |
| 30-06-2016 | full format | 14-07-2017 | 2017-31200475 | |
| 30-06-2015 | full format | 26-05-2016 | 2016-13500332 |