CONCEPT SYSTEMS
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 74 days after the deadline Filed on 13 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00555138.
Annual accounts 2025 filed on 13-10-2026 at the NBB all 39 filings
Turnover
€42,170▼ 3.2%
2024 · €43,580
EBIT margin
-15.4%▼ 61.2pp
2024 · 45.8%
Net result
-€952
2024 · €18,403
Working capital
€163,729▲ 6.4%
2024 · €153,943
In the rankings
#6 oldest company in Héron
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€42,170
▼ 3.2%
2025
20182025
Operating result
-€6,486
2025
20182025
Net result
-€952
2025
lowest quarter of the sector
20182025
EBIT margin
-15.4%
▼ 61.2pp
2025
20182025
Equity
€220,195
▼ 0.4%
2025
highest quarter of the sector
20182025
Total assets
€233,277
▼ 1.8%
2025
middle half of the sector
20182025
Debt
€13,082
▼ 20.0%
2025
20182025
Working capital
€163,729
▲ 6.4%
2025
highest quarter of the sector
20182025
Solvency
94.4%
▲ 1.3pp
2025
highest quarter of the sector
20182025
Current ratio
13.52
▲ 3.10
2025
highest quarter of the sector
20182025
Return on assets (ROA)
-0.4%
▼ 8.2pp
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€42,759-€45,800▲ 7.1%€43,800▼ 4.4%€44,100▲ 0.7%€44,050▼ 0.1%€44,410▲ 0.8%€43,580▼ 1.9%€42,170▼ 3.2%
Operating result€19,291-€14,424▼ 25.2%€17,902▲ 24.1%€20,555▲ 14.8%€13,879▼ 32.5%€16,807▲ 21.1%€19,950▲ 18.7%-€6,486
Net result€9,885-€9,733▼ 1.5%€9,672within the sector's middle half▼ 0.6%€15,025within the sector's middle half▲ 55.3%€11,886within the sector's middle half▼ 20.9%€15,524within the sector's middle half▲ 30.6%€18,403within the sector's middle half▲ 18.5%-€952below the sector's middle half
EBIT margin45.1%-31.5%▼ 13.6pp40.9%▲ 9.4pp46.6%▲ 5.7pp31.5%▼ 15.1pp37.8%▲ 6.3pp45.8%▲ 7.9pp-15.4%▼ 61.2pp
Equity€140,904-€150,637▲ 6.9%€160,309above the sector's middle half▲ 6.4%€175,334above the sector's middle half▲ 9.4%€187,220above the sector's middle half▲ 6.8%€202,744above the sector's middle half▲ 8.3%€221,147above the sector's middle half▲ 9.1%€220,195above the sector's middle half▼ 0.4%
Total assets€210,777-€204,700▼ 2.9%€206,383within the sector's middle half▲ 0.8%€211,659within the sector's middle half▲ 2.6%€212,877within the sector's middle half▲ 0.6%€226,915within the sector's middle half▲ 6.6%€237,496within the sector's middle half▲ 4.7%€233,277within the sector's middle half▼ 1.8%
Debt€69,873-€54,063▼ 22.6%€46,074▼ 14.8%€36,325▼ 21.2%€25,657▼ 29.4%€24,171▼ 5.8%€16,349▼ 32.4%€13,082▼ 20.0%
Working capital€7,515-€32,415▲ 331%€47,620within the sector's middle half▲ 46.9%€73,242within the sector's middle half▲ 53.8%€96,758within the sector's middle half▲ 32.1%€123,911above the sector's middle half▲ 28.1%€153,943above the sector's middle half▲ 24.2%€163,729above the sector's middle half▲ 6.4%
Solvency66.8%-73.6%▲ 6.7pp77.7%within the sector's middle half▲ 4.1pp82.8%above the sector's middle half▲ 5.2pp87.9%above the sector's middle half▲ 5.1pp89.3%above the sector's middle half▲ 1.4pp93.1%above the sector's middle half▲ 3.8pp94.4%above the sector's middle half▲ 1.3pp
Current ratio1.15-1.70▲ 0.562.03within the sector's middle half▲ 0.333.02within the sector's middle half▲ 0.984.77within the sector's middle half▲ 1.756.13above the sector's middle half▲ 1.3610.42above the sector's middle half▲ 4.2913.52above the sector's middle half▲ 3.10
Return on assets (ROA)4.7%-4.8%▲ 0.1pp4.7%within the sector's middle half▼ 0.1pp7.1%within the sector's middle half▲ 2.4pp5.6%within the sector's middle half▼ 1.5pp6.8%within the sector's middle half▲ 1.3pp7.7%within the sector's middle half▲ 0.9pp-0.4%below the sector's middle half▼ 8.2pp
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 loss of €6,486, after a profit of €19,950 in 2024. It is the lowest result since 2018.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €233,277
Fixed assets
€56,466 ▼ 16.0%
Current assets
€176,811 ▲ 3.8%
Equity and liabilities €233,277
Equity
€220,195 ▼ 0.4%
Debt
€13,082 ▼ 20.0%
Debt's share of the balance-sheet total falls from 6.9% to 5.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
€4,252▼
2024 · €31,579
Cash flow
€9,786▼
2024 · €30,032
Debt to equity
0.06▼
2024 · 0.07
ROE
-0.4%▼
2024 · 8.3%
Interest coverage
2.81▼
2024 · 17.51
Debt ≤ 1 year
€13,082▼
2024 · €16,349
Income taxes
€559▼
2024 · €7,515
Customer credit
38 days▼
2024 · 1175 days
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Overdue debts
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Overdue tax debts | - | - | €5,137 | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €42,759 | €45,800 | €43,800 | €44,100 | €44,050 | €44,410 | €43,580 | €42,170 | ▼ 3.2% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €9,809 | €15,265 | €12,132 | €9,086 | €10,968 | ▲ 20.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,607 | €20,312 | €13,607 | €10,597 | €11,629 | €11,629 | €11,629 | €10,738 | ▼ 7.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | - | - | €20,661 | - |
| Other operating charges640/8 | - | - | - | €3,139 | €3,277 | €3,842 | €2,915 | €6,289 | ▲ 116% |
| Gross operating margin9900 | €35,288 | €37,152 | €34,044 | €34,291 | €28,785 | €32,278 | €34,494 | €31,202 | ▼ 9.5% |
| Operating profit (loss)9901 | €19,291 | €14,424 | €17,902 | €20,555 | €13,879 | €16,807 | €19,950 | -€6,486 | - |
| Financial income75/76B | - | - | - | €4,346 | €6,140 | €7,241 | €7,771 | €7,605 | ▼ 2.1% |
| Recurring financial income75 | - | - | - | €4,346 | €6,140 | €7,241 | €7,771 | €7,605 | ▼ 2.1% |
| Non-recurring financial income76B | - | - | - | €4,346 | €6,140 | €7,241 | €7,771 | €7,605 | ▼ 2.1% |
| Financial charges65/66B | - | - | - | €4,198 | €3,321 | €2,077 | €1,803 | €1,512 | ▼ 16.1% |
| Recurring financial charges65 | €7,020 | €5,166 | €3,548 | €4,198 | €3,321 | €2,077 | €1,803 | €1,512 | ▼ 16.1% |
| Profit (loss) for the period before taxes9903 | €14,662 | €12,474 | €14,833 | €20,703 | €16,698 | €21,971 | €25,918 | -€393 | - |
| Income taxes67/77 | €4,777 | €2,741 | €5,161 | €5,678 | €4,812 | €6,447 | €7,515 | €559 | ▼ 92.6% |
| Profit (loss) for the period9904 | €9,885 | €9,733 | €9,672 | €15,025 | €11,886 | €15,524 | €18,403 | -€952 | - |
| Profit (loss) for the period to be appropriated9905 | €9,885 | €9,733 | €9,672 | €15,025 | €11,886 | €15,524 | €18,403 | -€952 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €210,777 | €204,700 | €206,383 | €211,659 | €212,877 | €226,915 | €237,496 | €233,277 | ▼ 1.8% |
| Fixed assets21/28 | €153,108 | €126,296 | €112,689 | €102,092 | €90,462 | €78,833 | €67,204 | €56,466 | ▼ 16.0% |
| Intangible fixed assets21 | €0 | - | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €153,046 | €126,234 | €112,627 | €102,030 | €90,400 | €78,771 | €67,142 | €56,404 | ▼ 16.0% |
| Land and buildings22 | - | - | - | €102,030 | €90,400 | €78,771 | €67,142 | €56,404 | ▼ 16.0% |
| Financial fixed assets28 | €62 | €62 | €62 | €62 | €62 | €62 | €62 | €62 | = |
| Current assets29/58 | €57,669 | €78,404 | €93,694 | €109,567 | €122,415 | €148,082 | €170,292 | €176,811 | ▲ 3.8% |
| Amounts receivable after more than one year29 | - | - | - | €30,000 | €30,000 | €30,000 | €30,000 | €30,000 | = |
| Other amounts receivable291 | - | - | - | €30,000 | €30,000 | €30,000 | €30,000 | €30,000 | = |
| Amounts receivable within one year40/41 | €27,669 | €48,404 | €63,694 | €79,567 | €92,415 | €118,082 | €140,292 | €146,811 | ▲ 4.6% |
| Trade receivables40 | - | - | - | - | - | - | - | €4,339 | - |
| Other amounts receivable41 | - | - | - | €79,567 | €92,415 | €118,082 | €140,292 | €142,472 | ▲ 1.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €210,777 | €204,700 | €206,383 | €211,659 | €212,877 | €226,915 | €237,496 | €233,277 | ▼ 1.8% |
| Equity10/15 | €140,904 | €150,637 | €160,309 | €175,334 | €187,220 | €202,744 | €221,147 | €220,195 | ▼ 0.4% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | - | - | €18,600 | - | - | - | - | - |
| Issued capital100 | - | - | - | €18,600 | - | - | - | - | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €120,444 | €130,177 | €139,849 | €154,874 | €166,760 | €182,284 | €200,687 | €199,735 | ▼ 0.5% |
| Amounts payable17/49 | €69,873 | €54,063 | €46,074 | €36,325 | €25,657 | €24,171 | €16,349 | €13,082 | ▼ 20.0% |
| Amounts payable after more than one year17 | €19,719 | €8,074 | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €50,154 | €45,989 | €46,074 | €36,325 | €25,657 | €24,171 | €16,349 | €13,082 | ▼ 20.0% |
| Financial debts43 | - | - | - | €25,262 | €15,168 | €12,010 | €7,731 | €11,699 | ▲ 51.3% |
| Credit institutions430/8 | - | - | - | €25,262 | €15,168 | €12,010 | €7,731 | €11,699 | ▲ 51.3% |
| Trade debts44 | - | - | - | €183 | - | - | - | - | - |
| Suppliers440/4 | - | - | - | €183 | - | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €9,843 | €9,500 | €11,584 | €7,515 | €559 | ▼ 92.6% |
| Taxes450/3 | - | - | - | €9,843 | €9,500 | €11,584 | €7,515 | €559 | ▼ 92.6% |
| Other amounts payable47/48 | - | - | - | €1,037 | €989 | €577 | €1,103 | €824 | ▼ 25.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9,885 | €9,733 | €9,672 | €15,025 | €11,886 | €15,524 | €18,403 | -€952 | - |
| + Depreciation and write-downs630 | €13,607 | €20,312 | €13,607 | €10,597 | €11,629 | €11,629 | €11,629 | €10,738 | ▼ 7.7% |
| Operating cash flow (approximation) | €23,492 | €30,045 | €23,279 | €25,622 | €23,515 | €27,153 | €30,032 | €9,786 | ▼ 67.4% |
| Investment in fixed assets (approximation) | - | €6,500 | €0 | €0 | €1 | €0 | €0 | €0 | - |
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, 12,322 companies had the same profile as CONCEPT SYSTEMS has now. Two years later, 90.3% were still going and 0.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
90.3%
was still going
8.6%
stopped otherwise
0.7%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CONCEPT SYSTEMS itself: 0.8% 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 12,322 companies, not a prediction for CONCEPT SYSTEMS. 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 39 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 13-10-2026 | 2026-00555138 | |
| 31-12-2024 | micro format | 23-09-2025 | 2025-00499087 | |
| 31-12-2023 | micro format | 25-10-2024 | 2024-00514095 | |
| 31-12-2022 | micro format | 22-09-2023 | 2023-00452098 | |
| 31-12-2021 | micro format | 03-09-2022 | 2022-20419446 | |
| 31-12-2020 | micro format | 15-07-2021 | 2021-36700352 | |
| 31-12-2019 | micro format | 17-10-2020 | 2020-62100575 | |
| 31-12-2018 | full format | 22-06-2019 | 2019-21800407 | |
| 31-12-2017 | full format | 29-10-2018 | 2018-71100332 | |
| 31-12-2016 | full format | 29-10-2018 | 2018-71300306 |