Cloud BC
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 17-07-2026 at the NBB all 6 filings
Turnover
≈ €90,000
Estimated: probably between €78,000 and €110,000
Total assets
€918,474▼ 7.7%
2024 · €995,110
Net result
€12,821▼ 32.8%
2024 · €19,067
Working capital
-€66,345▼ 153%
2024 · -€26,238
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
€31,411
▼ 27.5%
2025
20202025
Net result
€12,821
▼ 32.8%
2025
middle half of the sector
20202025
Equity
€43,698
▲ 41.5%
2025
middle half of the sector
20202025
Total assets
€918,474
▼ 7.7%
2025
middle half of the sector
20202025
Debt
€874,776
▼ 9.3%
2025
20202025
Working capital
-€66,345
▼ 153%
2025
middle half of the sector
20202025
Solvency
4.8%
▲ 1.7pp
2025
lowest quarter of the sector
20202025
Current ratio
0.11
▼ 0.60
2025
lowest quarter of the sector
20202025
Return on assets (ROA)
1.4%
▼ 0.5pp
2025
middle half of the sector
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result-€0.04m-€0.009m€0.03m▲ 223%€0.05m▲ 62.9%€0.04m▼ 8.0%€0.03m▼ 27.5%
Net result-€0.06mbelow the sector's middle half--€0.02mbelow the sector's middle half▲ 72.5%€0.001mwithin the sector's middle half€0.03mwithin the sector's middle half▲ 27×€0.02mwithin the sector's middle half▼ 23.7%€0.01mwithin the sector's middle half▼ 32.8%
Equity€0.002mbelow the sector's middle half--€0.01mbelow the sector's middle half-€0.01mbelow the sector's middle half▲ 6.6%€0.01mwithin the sector's middle half€0.03mwithin the sector's middle half▲ 161%€0.04mwithin the sector's middle half▲ 41.5%
Total assets€1.1mabove the sector's middle half-€1.1mwithin the sector's middle half▼ 3.1%€1.0mwithin the sector's middle half▼ 3.1%€1.0mwithin the sector's middle half▼ 3.7%€1.0mwithin the sector's middle half▲ 0.1%€0.9mwithin the sector's middle half▼ 7.7%
Debt€1.1m-€1.1m▼ 1.6%€1.0m▼ 3.1%€1.0m▼ 6.0%€1.0m▼ 1.8%€0.9m▼ 9.3%
Working capital€0.004mwithin the sector's middle half--€0.05mwithin the sector's middle half-€0.06mwithin the sector's middle half▼ 22.7%-€0.06mwithin the sector's middle half▲ 6.9%-€0.03mwithin the sector's middle half▲ 53.6%-€0.07mwithin the sector's middle half▼ 153%
Solvency0.2%below the sector's middle half--1.3%below the sector's middle half▼ 1.5pp-1.3%below the sector's middle half=1.2%below the sector's middle half▲ 2.5pp3.1%below the sector's middle half▲ 1.9pp4.8%below the sector's middle half▲ 1.7pp
Current ratio1.06within the sector's middle half-0.36below the sector's middle half▼ 0.700.21below the sector's middle half▼ 0.150.27below the sector's middle half▲ 0.060.71within the sector's middle half▲ 0.440.11below the sector's middle half▼ 0.60
Return on assets (ROA)-5.4%below the sector's middle half--1.5%within the sector's middle half▲ 3.9pp0.1%within the sector's middle half▲ 1.6pp2.5%within the sector's middle half▲ 2.4pp1.9%within the sector's middle half▼ 0.6pp1.4%within the sector's middle half▼ 0.5pp
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). 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 28% lower than in 2024. It is the second fall in a row.
Turnover and EBIT margin are not published. The abbreviated or 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 €918,474
Fixed assets
€910,528 ▼ 2.3%
Current assets
€7,946 ▼ 87.5%
Equity and liabilities €918,474
Equity
€43,698 ▲ 41.5%
Debt
€874,776 ▼ 9.3%
Debt's share of the balance-sheet total falls from 96.9% to 95.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€61,235▼
2024 · €84,906
Cash flow
€42,644▼
2024 · €60,645
Debt to equity
20.02▼
2024 · 31.23
ROE
29.3%▼
2024 · 61.8%
Interest coverage
3.29▼
2024 · 3.50
Debt ≤ 1 year
€74,292▼
2024 · €89,561
Debt > 1 year
€769,166▼
2024 · €835,366
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Mortgages, amount registered | €880,000 | €880,000 | €880,000 | €880,000 | €880,000 |
| Mortgage mandates | €127,487 | €127,487 | €127,487 | €127,488 | €127,488 |
| Carrying value of the mortgaged assets | €815,090 | €794,975 | - | €754,745 | €734,631 |
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 | €50,364 | €24,207 | - | - | €8,564 |
| Depreciation and write-downs of the year | €43,545 | €44,745 | €42,427 | €41,579 | €29,823 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €37,844 | €43,545 | €44,745 | €42,427 | €41,579 | €29,823 | ▼ 28.3% |
| Other operating charges640/8 | - | €10,133 | €7,100 | €7,853 | €8,041 | €8,289 | ▲ 3.1% |
| Gross operating margin9900 | €12,392 | €62,628 | €80,753 | €97,373 | €92,947 | €69,524 | ▼ 25.2% |
| Operating profit (loss)9901 | -€41,637 | €8,950 | €28,909 | €47,092 | €43,327 | €31,411 | ▼ 27.5% |
| Financial income75/76B | - | €0 | - | - | €0 | €0 | ▼ 100% |
| Recurring financial income75 | €17 | €0 | - | - | €0 | €0 | ▼ 100% |
| Financial charges65/66B | - | €25,247 | €27,984 | €22,092 | €24,260 | €18,590 | ▼ 23.4% |
| Recurring financial charges65 | €17,698 | €25,247 | €27,984 | €22,092 | €24,260 | €18,590 | ▼ 23.4% |
| Profit (loss) for the period before taxes9903 | -€59,318 | -€16,297 | €925 | €25,000 | €19,067 | €12,821 | ▼ 32.8% |
| Profit (loss) for the period9904 | -€59,318 | -€16,297 | €925 | €25,000 | €19,067 | €12,821 | ▼ 32.8% |
| Profit (loss) for the period to be appropriated9905 | -€59,318 | -€16,297 | €925 | €25,000 | €19,067 | €12,821 | ▼ 32.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €1.1m | €1.1m | €1.0m | €1.0m | €1.0m | €0.9m | ▼ 7.7% |
| Fixed assets21/28 | €1.0m | €1.0m | €1.0m | €1.0m | €0.9m | €0.9m | ▼ 2.3% |
| Tangible fixed assets22/27 | €1.0m | €1.0m | €1.0m | €1.0m | €0.9m | €0.9m | ▼ 2.3% |
| Land and buildings22 | - | €1.0m | €1.0m | €1.0m | €0.9m | €0.9m | ▼ 2.4% |
| Plant, machinery and equipment23 | - | €0.03m | €62 | €0 | - | €0.004m | - |
| Furniture and vehicles24 | - | - | €0.02m | €0.01m | €0.003m | €0 | ▼ 100% |
| Current assets29/58 | €0.07m | €0.03m | €0.02m | €0.02m | €0.06m | €0.008m | ▼ 87.5% |
| Amounts receivable within one year40/41 | €0.02m | €0.004m | €0.003m | €0.001m | €0.004m | €0.001m | ▼ 71.5% |
| Trade receivables40 | - | €0.004m | €0.003m | €0.001m | €0.004m | €0.001m | ▼ 71.5% |
| Other amounts receivable41 | - | €0 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €0.05m | €0.02m | €0.01m | €0.02m | €0.06m | €0.005m | ▼ 91.6% |
| Deferred charges and accrued income490/1 | - | €0.001m | €0.002m | €0.002m | €0.001m | €0.002m | ▲ 27.2% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €1.1m | €1.1m | €1.0m | €1.0m | €1.0m | €0.9m | ▼ 7.7% |
| Equity10/15 | €0.002m | -€0.01m | -€0.01m | €0.01m | €0.03m | €0.04m | ▲ 41.5% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Profit (loss) carried forward14 | -€0.06m | -€0.08m | -€0.07m | -€0.05m | -€0.03m | -€0.02m | ▲ 41.9% |
| Amounts payable17/49 | €1.1m | €1.1m | €1.0m | €1.0m | €1.0m | €0.9m | ▼ 9.3% |
| Amounts payable after more than one year17 | €1.0m | €1.0m | €0.9m | €0.9m | €0.8m | €0.8m | ▼ 7.9% |
| Financial debts170/4 | - | €1.0m | €0.9m | €0.9m | €0.8m | €0.8m | ▼ 7.9% |
| Amounts payable within one year42/48 | €0.06m | €0.08m | €0.08m | €0.08m | €0.09m | €0.07m | ▼ 17.0% |
| Current portion of amounts payable after more than one year42 | - | €0.06m | €0.06m | €0.06m | €0.07m | €0.07m | ▲ 1.9% |
| Trade debts44 | €137 | €0.007m | €0.002m | €0.001m | €0.003m | €0.002m | ▼ 17.0% |
| Suppliers440/4 | - | €0.007m | €0.002m | €0.001m | €0.003m | €0.002m | ▼ 17.0% |
| Advances received on contracts in progress46 | - | €0.008m | €0 | - | - | - | - |
| Taxes, remuneration and social security45 | - | €0.002m | €0.007m | €0.007m | €0.01m | €0.001m | ▼ 89.4% |
| Taxes450/3 | - | €0.002m | €0.007m | €0.007m | €0.01m | €0.001m | ▼ 89.4% |
| Other amounts payable47/48 | - | €0.005m | €0.006m | €0.006m | €0.007m | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | €0.03m | €0.03m | €0.04m | €0.03m | ▼ 20.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€59,318 | -€16,297 | €925 | €25,000 | €19,067 | €12,821 | ▼ 32.8% |
| + Depreciation and write-downs630 | €37,844 | €43,545 | €44,745 | €42,427 | €41,579 | €29,823 | ▼ 28.3% |
| Operating cash flow (approximation) | -€21,474 | €27,248 | €45,670 | €67,428 | €60,645 | €42,644 | ▼ 29.7% |
| Investment in fixed assets (approximation) | - | -€50,364 | -€24,207 | €0 | €0 | -€8,564 | - |
| Change in cash | - | -€24,703 | -€11,408 | €5,594 | €40,501 | -€52,674 | - |
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, 1,603 companies had the same profile as Cloud BC has now. Two years later, 96.1% were still going and 1.9% had gone bankrupt.
- Small
- 5 to 10 years old
- solvency under 10%
- a profit under 5% of the balance sheet
96.1%
was still going
1.8%
stopped otherwise
1.9%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Cloud BC itself is lower: 0.2% within 12 months. It rests on far more data about Cloud BC 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 1,603 companies, not a prediction for Cloud BC. 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 | abbreviated format | 17-07-2026 | 2026-00308177 | |
| 31-12-2024 | micro format | 22-07-2025 | 2025-00294666 | |
| 31-12-2023 | micro format | 08-07-2024 | 2024-00228078 | |
| 31-12-2022 | micro format | 31-07-2023 | 2023-00304406 | |
| 31-12-2021 | micro format | 07-07-2022 | 2022-20166083 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-62200491 |