CONFIDE
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 02-02-2026 PDF all 17 filings
Turnover
≈ €58,000
Estimated: probably between €25,000 and €150,000
Total assets
€88,817▼ 23.5%
2024 · €116,114
Net result
-€2,579
2024 · €39,966
Working capital
€51,997▲ 13.9%
2024 · €45,663
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€2,271
▼ 96.2%
2025
20192025
Net result
-€2,579
2025
lowest quarter of the sector
20192025
Equity
€78,740
▼ 3.2%
2025
middle half of the sector
20192025
Total assets
€88,817
▼ 23.5%
2025
lowest quarter of the sector
20192025
Debt
€10,077
▼ 71.0%
2025
20192025
Working capital
€51,997
▲ 13.9%
2025
middle half of the sector
20192025
Solvency
88.7%
▲ 18.6pp
2025
highest quarter of the sector
20192025
Current ratio
6.16
▲ 3.85
2025
highest quarter of the sector
20192025
Return on assets (ROA)
-2.9%
▼ 37.3pp
2025
lowest quarter of the sector
20192025
Staff (FTE)
no figure
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€21,885-€4,807▼ 78.0%€18,197▲ 279%-€429€33,675€59,544▲ 76.8%€2,271▼ 96.2%
Net result€14,485-€3,905within the sector's middle half▼ 73.0%€12,825within the sector's middle half▲ 228%-€1,137below the sector's middle half€20,360within the sector's middle half€39,966within the sector's middle half▲ 96.3%-€2,579below the sector's middle half
Equity€45,447-€49,352within the sector's middle half▲ 8.6%€46,843within the sector's middle half▼ 5.1%€39,967within the sector's middle half▼ 14.7%€55,837within the sector's middle half▲ 39.7%€81,319below the sector's middle half▲ 45.6%€78,740within the sector's middle half▼ 3.2%
Total assets€64,649-€56,424below the sector's middle half▼ 12.7%€78,777below the sector's middle half▲ 39.6%€55,508below the sector's middle half▼ 29.5%€85,254within the sector's middle half▲ 53.6%€116,114below the sector's middle half▲ 36.2%€88,817below the sector's middle half▼ 23.5%
Debt€19,202-€7,072▼ 63.2%€31,933▲ 352%€15,541▼ 51.3%€29,416▲ 89.3%€34,795▲ 18.3%€10,077▼ 71.0%
Working capital€39,155-€44,196within the sector's middle half▲ 12.9%€37,297within the sector's middle half▼ 15.6%€14,764within the sector's middle half▼ 60.4%€28,811within the sector's middle half▲ 95.1%€45,663within the sector's middle half▲ 58.5%€51,997within the sector's middle half▲ 13.9%
Solvency70.3%-87.5%above the sector's middle half▲ 17.2pp59.5%within the sector's middle half▼ 28.0pp72.0%within the sector's middle half▲ 12.5pp65.5%within the sector's middle half▼ 6.5pp70.0%within the sector's middle half▲ 4.5pp88.7%above the sector's middle half▲ 18.6pp
Current ratio3.05-7.35above the sector's middle half▲ 4.302.17within the sector's middle half▼ 5.181.95within the sector's middle half▼ 0.221.98within the sector's middle half▲ 0.032.31within the sector's middle half▲ 0.336.16above the sector's middle half▲ 3.85
Return on assets (ROA)22.4%-6.9%within the sector's middle half▼ 15.5pp16.3%within the sector's middle half▲ 9.4pp-2.0%below the sector's middle half▼ 18.3pp23.9%within the sector's middle half▲ 25.9pp34.4%above the sector's middle half▲ 10.5pp-2.9%below the sector's middle half▼ 37.3pp
Staff (FTE)0within the sector's middle half
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 96% lower than in 2024.
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 €88,817
Fixed assets
€26,743 ▼ 25.0%
Current assets
€62,074 ▼ 22.8%
Equity and liabilities €88,817
Equity
€78,740 ▼ 3.2%
Debt
€10,077 ▼ 71.0%
Debt's share of the balance-sheet total falls from 30.0% to 11.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€12,352▼
2024 · €69,728
Cash flow
€7,503▼
2024 · €50,150
Debt to equity
0.13▼
2024 · 0.43
ROE
-3.3%▼
2024 · 49.1%
Interest coverage
6.02▼
2024 · 28.55
Debt ≤ 1 year
€10,077▼
2024 · €34,795
Income taxes
€2,797▼
2024 · €17,136
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €22,597 | €9,570 | €15,314 | €1,168 |
| Financial fixed assets | - | - | €3,500 | - |
| Depreciation and write-downs of the year | €7,100 | €7,747 | €10,184 | €10,081 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2023 · 2 entries · €158 awarded · €158 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2023 | 1 | €0 | €68 |
| 2022 | 1 | €158 | €90 |
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,274 | €2,466 | €3,324 | €7,100 | €7,747 | €10,184 | €10,081 | ▼ 1.0% |
| Other operating charges640/8 | - | - | - | €798 | €2,200 | €1,468 | €2,012 | ▲ 37.1% |
| Gross operating margin9900 | €24,964 | €8,418 | €22,537 | €7,469 | €43,623 | €71,196 | €14,364 | ▼ 79.8% |
| Operating profit (loss)9901 | €21,885 | €4,807 | €18,197 | -€429 | €33,675 | €59,544 | €2,271 | ▼ 96.2% |
| Financial income75/76B | - | - | - | €1 | €28 | €1 | €0 | ▼ 100% |
| Recurring financial income75 | €48 | €23 | €3 | €1 | €28 | €1 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €191 | €1,575 | €2,442 | €2,053 | ▼ 16.0% |
| Recurring financial charges65 | €413 | €3 | €334 | €191 | €1,575 | €2,442 | €2,053 | ▼ 16.0% |
| Profit (loss) for the period before taxes9903 | €21,520 | €4,827 | €17,867 | -€619 | €32,129 | €57,102 | €218 | ▼ 99.6% |
| Income taxes67/77 | €7,035 | €922 | €5,042 | €519 | €11,769 | €17,136 | €2,797 | ▼ 83.7% |
| Profit (loss) for the period9904 | €14,485 | €3,905 | €12,825 | -€1,137 | €20,360 | €39,966 | -€2,579 | - |
| Profit (loss) for the period to be appropriated9905 | €14,485 | €3,905 | €12,825 | -€1,137 | €20,360 | €39,966 | -€2,579 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €64,649 | €56,424 | €78,777 | €55,508 | €85,254 | €116,114 | €88,817 | ▼ 23.5% |
| Fixed assets21/28 | €6,403 | €5,267 | €9,706 | €25,203 | €27,026 | €35,656 | €26,743 | ▼ 25.0% |
| Tangible fixed assets22/27 | €6,368 | €5,232 | €9,671 | €25,168 | €26,991 | €32,121 | €23,208 | ▼ 27.7% |
| Land and buildings22 | - | - | - | - | €4,839 | €8,029 | €7,067 | ▼ 12.0% |
| Plant, machinery and equipment23 | - | - | - | €760 | - | €1,870 | €1,472 | ▼ 21.3% |
| Furniture and vehicles24 | - | - | - | €24,408 | €22,152 | €22,222 | €14,668 | ▼ 34.0% |
| Financial fixed assets28 | €35 | €35 | €35 | €35 | €35 | €3,535 | €3,535 | = |
| Current assets29/58 | €58,246 | €51,157 | €69,071 | €30,305 | €58,227 | €80,458 | €62,074 | ▼ 22.8% |
| Amounts receivable within one year40/41 | €10,641 | €707 | €12,573 | €8,188 | €20,882 | €21,083 | €14,647 | ▼ 30.5% |
| Trade receivables40 | - | - | - | €2,313 | €20,882 | €20,661 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | €5,875 | - | €422 | €14,647 | ▲ 35× |
| Cash at bank and in hand54/58 | €46,807 | €49,652 | €56,308 | €21,927 | €37,156 | €56,194 | €42,977 | ▼ 23.5% |
| Deferred charges and accrued income490/1 | - | - | - | €190 | €190 | €3,181 | €4,451 | ▲ 39.9% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €64,649 | €56,424 | €78,777 | €55,508 | €85,254 | €116,114 | €88,817 | ▼ 23.5% |
| Equity10/15 | €45,447 | €49,352 | €46,843 | €39,967 | €55,837 | €81,319 | €78,740 | ▼ 3.2% |
| Contributions10/11 | €6,200 | - | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €42,123 | €42,123 | €39,615 | €33,875 | €49,746 | €75,227 | €75,227 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €216 | €216 | €216 | €216 | = |
| Distributable reserves133 | - | - | - | €31,799 | €49,529 | €75,011 | €75,011 | = |
| Profit (loss) carried forward14 | -€2,876 | €1,029 | €1,029 | -€109 | -€109 | -€109 | -€2,687 | ▼ 2,376% |
| Amounts payable17/49 | €19,202 | €7,072 | €31,933 | €15,541 | €29,416 | €34,795 | €10,077 | ▼ 71.0% |
| Amounts payable after more than one year17 | €111 | €111 | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €19,091 | €6,961 | €31,773 | €15,541 | €29,416 | €34,795 | €10,077 | ▼ 71.0% |
| Financial debts43 | - | - | - | €433 | €727 | €2,725 | €938 | ▼ 65.6% |
| Credit institutions430/8 | - | - | - | €433 | €727 | €2,725 | €938 | ▼ 65.6% |
| Trade debts44 | €10,316 | €859 | €2,774 | €76 | €2,539 | €3,432 | €3,257 | ▼ 5.1% |
| Suppliers440/4 | - | - | - | €76 | €2,539 | €3,432 | €3,257 | ▼ 5.1% |
| Taxes, remuneration and social security45 | - | - | - | - | €10,114 | €9,067 | €448 | ▼ 95.1% |
| Taxes450/3 | - | - | - | - | €10,114 | €9,067 | €448 | ▼ 95.1% |
| Other amounts payable47/48 | - | - | - | €15,032 | €16,037 | €19,571 | €5,435 | ▼ 72.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,485 | €3,905 | €12,825 | -€1,137 | €20,360 | €39,966 | -€2,579 | - |
| + Depreciation and write-downs630 | €2,274 | €2,466 | €3,324 | €7,100 | €7,747 | €10,184 | €10,081 | ▼ 1.0% |
| Operating cash flow (approximation) | €16,759 | €6,371 | €16,149 | €5,963 | €28,107 | €50,150 | €7,503 | ▼ 85.0% |
| Investment in fixed assets (approximation) | - | -€1,330 | -€7,764 | -€22,597 | -€9,570 | -€18,814 | -€1,168 | ▲ 93.8% |
| Change in cash | - | €2,845 | €6,656 | -€34,380 | €15,228 | €19,039 | -€13,218 | - |
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, 6,908 companies had the same profile as CONFIDE has now. Two years later, 90.9% were still going and 1.1% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a small loss
90.9%
was still going
7.8%
stopped otherwise
1.1%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of CONFIDE itself is lower: < 0.1% within 12 months. It rests on far more data about CONFIDE 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 6,908 companies, not a prediction for CONFIDE. 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 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 02-02-2026 | 2026-00026253 | |
| 30-09-2024 | abbreviated format | 29-04-2025 | 2025-00080509 | |
| 30-09-2023 | micro format | 28-03-2024 | 2024-00056254 | |
| 30-09-2022 | micro format | 31-03-2023 | 2023-00053901 | |
| 30-09-2021 | micro format | 22-03-2022 | 2022-08200161 | |
| 30-09-2020 | micro format | 25-03-2021 | 2021-08400288 | |
| 30-09-2019 | micro format | 31-03-2020 | 2020-08200098 | |
| 30-09-2018 | micro format | 28-03-2019 | 2019-08300181 | |
| 30-09-2017 | micro format | 23-03-2018 | 2018-07900395 | |
| 30-09-2016 | abbreviated format | 27-03-2017 | 2017-07800506 |