CONBIT
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 16-06-2026 at the NBB all 8 filings
Turnover
≈ €900,000
Estimated: probably between €700,000 and €1.6m
EBIT margin
Not included in this filing
Net result
-€54,898
2024 · €28,600
Working capital
€103,496▼ 34.7%
2024 · €158,394
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€55,875
2025
20182025
Net result
-€54,898
2025
lowest quarter of the sector
20182025
Equity
€103,496
▼ 34.7%
2025
lowest quarter of the sector
20182025
Total assets
€284,203
▼ 7.0%
2025
lowest quarter of the sector
20182025
Debt
€180,706
▲ 22.7%
2025
20182025
Working capital
€103,496
▼ 34.7%
2025
middle half of the sector
20182025
Solvency
36.4%
▼ 15.4pp
2025
middle half of the sector
20182025
Current ratio
1.57
▼ 0.50
2025
middle half of the sector
20182025
Return on assets (ROA)
-19.3%
▼ 28.7pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
5.8
▲ 11.5%
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€35,273--€42,210-€7,712▲ 81.7%-€30,715▼ 298%€112,743€34,423▼ 69.5%€38,736▲ 12.5%-€55,875
Net result€27,784--€43,381-€7,743below the sector's middle half▲ 82.2%-€31,298below the sector's middle half▼ 304%€92,433within the sector's middle half€29,999within the sector's middle half▼ 67.5%€28,600within the sector's middle half▼ 4.7%-€54,898below the sector's middle half
Equity€89,784-€46,403▼ 48.3%€38,660below the sector's middle half▼ 16.7%€7,361below the sector's middle half▼ 81.0%€99,795below the sector's middle half▲ 14×€129,794within the sector's middle half▲ 30.1%€158,394within the sector's middle half▲ 22.0%€103,496below the sector's middle half▼ 34.7%
Total assets€122,126-€70,726▼ 42.1%€71,657below the sector's middle half▲ 1.3%€101,906below the sector's middle half▲ 42.2%€275,230below the sector's middle half▲ 170%€221,081below the sector's middle half▼ 19.7%€305,653below the sector's middle half▲ 38.3%€284,203below the sector's middle half▼ 7.0%
Debt€32,342-€24,323▼ 24.8%€32,998▲ 35.7%€94,545▲ 187%€175,435▲ 85.6%€91,287▼ 48.0%€147,258▲ 61.3%€180,706▲ 22.7%
Working capital€89,784-€46,403▼ 48.3%€38,660within the sector's middle half▼ 16.7%€7,361within the sector's middle half▼ 81.0%€99,795within the sector's middle half▲ 14×€129,794within the sector's middle half▲ 30.1%€158,394within the sector's middle half▲ 22.0%€103,496within the sector's middle half▼ 34.7%
Solvency73.5%-65.6%▼ 7.9pp54.0%within the sector's middle half▼ 11.7pp7.2%below the sector's middle half▼ 46.7pp36.3%within the sector's middle half▲ 29.0pp58.7%within the sector's middle half▲ 22.5pp51.8%within the sector's middle half▼ 6.9pp36.4%within the sector's middle half▼ 15.4pp
Current ratio3.78-2.91▼ 0.872.17within the sector's middle half▼ 0.741.08within the sector's middle half▼ 1.091.57within the sector's middle half▲ 0.492.42within the sector's middle half▲ 0.852.08within the sector's middle half▼ 0.351.57within the sector's middle half▼ 0.50
Return on assets (ROA)22.8%--61.3%▼ 84.1pp-10.8%below the sector's middle half▲ 50.5pp-30.7%below the sector's middle half▼ 19.9pp33.6%above the sector's middle half▲ 64.3pp13.6%within the sector's middle half▼ 20.0pp9.4%within the sector's middle half▼ 4.2pp-19.3%below the sector's middle half▼ 28.7pp
Staff (FTE)1.1-1▼ 9.1%4within the sector's middle half5.1above the sector's middle half▲ 27.5%4.8above the sector's middle half▼ 5.9%5.2above the sector's middle half▲ 8.3%5.8within the sector's middle half▲ 11.5%
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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 €55,875, after a profit of €38,736 in 2024. It is the lowest result since 2021.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €284,203
Equity
€103,496 ▼ 34.7%
Debt
€180,706 ▲ 22.7%
Debt's share of the balance-sheet total rises from 48.2% to 63.6%. Equity is lower and debt is higher.
Key figures and ratios
Debt to equity
1.75▲
2024 · 0.93
ROE
-53.0%▼
2024 · 18.1%
Debt ≤ 1 year
€180,706▲
2024 · €147,258
Income taxes
€1,091▼
2024 · €17,030
Staff costs
€650,647▲
2024 · €482,641
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 | 4 | 5 | 4 | 6 | 6 |
| full-time | 4 | 5 | 4 | 6 | 6 |
| in full-time equivalents | 4 | 5 | 4 | 6 | 6 |
| Average over the year, in full-time equivalents | 1.5 | 5.1 | 4.8 | 5.2 | 5.8 |
| On a permanent contract | 4 | 5 | 4 | 6 | 6 |
| Joined | 4 | 2 | 0 | 2 | 1 |
| Left | 0 | 1 | 1 | 0 | 1 |
| Training hours | - | 75 | 168 | 22 | 56 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €7,250 | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €98,615 | €355,934 | €393,466 | €482,641 | €650,647 | ▲ 34.8% |
| Other operating charges640/8 | - | - | - | €111 | €222 | €132 | €202 | €144 | ▼ 28.7% |
| Gross operating margin9900 | €112,958 | €64,450 | -€17,356 | €68,010 | €468,899 | €428,021 | €521,580 | €594,916 | ▲ 14.1% |
| Operating profit (loss)9901 | €35,273 | -€42,210 | -€7,712 | -€30,715 | €112,743 | €34,423 | €38,736 | -€55,875 | - |
| Financial income75/76B | - | - | - | - | €444 | €7,580 | €7,140 | €2,367 | ▼ 66.8% |
| Recurring financial income75 | €824 | €445 | €202 | - | €444 | €7,580 | €7,140 | €2,367 | ▼ 66.8% |
| Financial charges65/66B | - | - | - | €466 | €246 | €269 | €246 | €300 | ▲ 22.0% |
| Recurring financial charges65 | €709 | €1,475 | €234 | €466 | €246 | €269 | €246 | €300 | ▲ 22.0% |
| Profit (loss) for the period before taxes9903 | €35,388 | -€43,240 | -€7,743 | -€31,182 | €112,941 | €41,734 | €45,631 | -€53,808 | - |
| Income taxes67/77 | €7,604 | €141 | - | €117 | €20,508 | €11,734 | €17,030 | €1,091 | ▼ 93.6% |
| Profit (loss) for the period9904 | €27,784 | -€43,381 | -€7,743 | -€31,298 | €92,433 | €29,999 | €28,600 | -€54,898 | - |
| Profit (loss) for the period to be appropriated9905 | €27,784 | -€43,381 | -€7,743 | -€31,298 | €92,433 | €29,999 | €28,600 | -€54,898 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €122,126 | €70,726 | €71,657 | €101,906 | €275,230 | €221,081 | €305,653 | €284,203 | ▼ 7.0% |
| Current assets29/58 | €122,126 | €70,726 | €71,657 | €101,906 | €275,230 | €221,081 | €305,653 | €284,203 | ▼ 7.0% |
| Amounts receivable within one year40/41 | €122,126 | €70,726 | €71,657 | €101,906 | €275,230 | €221,081 | €305,653 | €284,155 | ▼ 7.0% |
| Trade receivables40 | - | - | - | €101,875 | €156,000 | €71,500 | €188,800 | €259,019 | ▲ 37.2% |
| Other amounts receivable41 | - | - | - | €31 | €119,230 | €149,581 | €116,853 | €25,136 | ▼ 78.5% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | - | €47 | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €122,126 | €70,726 | €71,657 | €101,906 | €275,230 | €221,081 | €305,653 | €284,203 | ▼ 7.0% |
| Equity10/15 | €89,784 | €46,403 | €38,660 | €7,361 | €99,795 | €129,794 | €158,394 | €103,496 | ▼ 34.7% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Non-distributable reserves130/1 | - | - | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | - | - | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Profit (loss) carried forward14 | €21,584 | -€21,797 | -€29,540 | -€60,839 | €31,595 | €61,594 | €90,194 | €35,296 | ▼ 60.9% |
| Amounts payable17/49 | €32,342 | €24,323 | €32,998 | €94,545 | €175,435 | €91,287 | €147,258 | €180,706 | ▲ 22.7% |
| Amounts payable within one year42/48 | €32,342 | €24,323 | €32,998 | €94,545 | €175,435 | €91,287 | €147,258 | €180,706 | ▲ 22.7% |
| Trade debts44 | €15,494 | €8,426 | €15,390 | €22,183 | €103,000 | €22,962 | €42,427 | €66,567 | ▲ 56.9% |
| Suppliers440/4 | - | - | - | €22,183 | €103,000 | €22,962 | €42,427 | €66,567 | ▲ 56.9% |
| Taxes, remuneration and social security45 | - | - | - | €24,122 | €72,435 | €68,325 | €104,832 | €114,140 | ▲ 8.9% |
| Taxes450/3 | - | - | - | €3,833 | €20,264 | €13,411 | €22,842 | €9,132 | ▼ 60.0% |
| Remuneration and social security454/9 | - | - | - | €20,289 | €52,172 | €54,914 | €81,990 | €105,007 | ▲ 28.1% |
| Other amounts payable47/48 | - | - | - | €48,240 | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €27,784 | -€43,381 | -€7,743 | -€31,298 | €92,433 | €29,999 | €28,600 | -€54,898 | - |
| Operating cash flow (approximation) | €27,784 | -€43,381 | -€7,743 | -€31,298 | €92,433 | €29,999 | €28,600 | -€54,898 | - |
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, 3,591 companies had the same profile as CONBIT has now. Two years later, 87.4% were still going and 3.0% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
87.4%
was still going
9.4%
stopped otherwise
3.0%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CONBIT itself: 1.1% 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 3,591 companies, not a prediction for CONBIT. 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 (8)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 16-06-2026 | 2026-00173970 | |
| 31-12-2024 | abbreviated format | 17-06-2025 | 2025-00150319 | |
| 31-12-2023 | abbreviated format | 17-06-2024 | 2024-00138504 | |
| 31-12-2022 | abbreviated format | 22-06-2023 | 2023-00153811 | |
| 31-12-2021 | abbreviated format | 22-06-2022 | 2022-20087013 | |
| 31-12-2020 | abbreviated format | 16-06-2021 | 2021-20400417 | |
| 31-12-2019 | abbreviated format | 22-06-2020 | 2020-18900287 | |
| 31-12-2018 | abbreviated format | 13-06-2019 | 2019-18400030 |