CONTENT
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 02-06-2026 PDF all 24 filings
Equity
€43,196▼ 22.4%
2024 · €55,663
Total assets
€64,465▼ 11.7%
2024 · €73,013
Net result
-€12,467▲ 60.3%
2024 · -€31,364
Working capital
€42,069▼ 22.3%
2024 · €54,153
In the rankings
#4 oldest company in Grimbergen, Publishing and media sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€11,467
▲ 61.9%
2025
20182025
Net result
-€12,467
▲ 60.3%
2025
lowest quarter of the sector
20182025
Equity
€43,196
▼ 22.4%
2025
middle half of the sector
20182025
Total assets
€64,465
▼ 11.7%
2025
middle half of the sector
20182025
Debt
€21,269
▲ 22.6%
2025
20182025
Working capital
€42,069
▼ 22.3%
2025
middle half of the sector
20182025
Solvency
67.0%
▼ 9.2pp
2025
middle half of the sector
20182025
Current ratio
2.98
▼ 1.14
2025
middle half of the sector
20182025
Return on assets (ROA)
-19.3%
▲ 23.6pp
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
Operating result€38,246-€3,621▼ 90.5%€29,236▲ 707%€3,900▼ 86.7%€25,112▲ 544%-€5,911-€30,120▼ 410%-€11,467▲ 61.9%
Net result€39,042-€2,314▼ 94.1%€30,966above the sector's middle half▲ 13×€3,352within the sector's middle half▼ 89.2%€18,056within the sector's middle half▲ 439%-€5,446below the sector's middle half-€31,364below the sector's middle half▼ 476%-€12,467below the sector's middle half▲ 60.3%
Equity€77,786-€80,099▲ 3.0%€111,065above the sector's middle half▲ 38.7%€94,417within the sector's middle half▼ 15.0%€92,473within the sector's middle half▼ 2.1%€87,027within the sector's middle half▼ 5.9%€55,663within the sector's middle half▼ 36.0%€43,196within the sector's middle half▼ 22.4%
Total assets€80,115-€87,885▲ 9.7%€127,461within the sector's middle half▲ 45.0%€120,854within the sector's middle half▼ 5.2%€133,392within the sector's middle half▲ 10.4%€104,894within the sector's middle half▼ 21.4%€73,013within the sector's middle half▼ 30.4%€64,465within the sector's middle half▼ 11.7%
Debt€2,329-€7,785▲ 234%€16,396▲ 111%€26,436▲ 61.2%€40,920▲ 54.8%€17,867▼ 56.3%€17,350▼ 2.9%€21,269▲ 22.6%
Working capital€55,216-€63,448▲ 14.9%€102,191above the sector's middle half▲ 61.1%€92,855above the sector's middle half▼ 9.1%€91,721above the sector's middle half▼ 1.2%€86,647above the sector's middle half▼ 5.5%€54,153within the sector's middle half▼ 37.5%€42,069within the sector's middle half▼ 22.3%
Solvency97.1%-91.1%▼ 6.0pp87.1%above the sector's middle half▼ 4.0pp78.1%above the sector's middle half▼ 9.0pp69.3%within the sector's middle half▼ 8.8pp83.0%above the sector's middle half▲ 13.6pp76.2%above the sector's middle half▼ 6.7pp67.0%within the sector's middle half▼ 9.2pp
Current ratio24.71-9.15▼ 15.567.23above the sector's middle half▼ 1.924.51above the sector's middle half▼ 2.723.24within the sector's middle half▼ 1.275.85above the sector's middle half▲ 2.614.12above the sector's middle half▼ 1.732.98within the sector's middle half▼ 1.14
Return on assets (ROA)48.7%-2.6%▼ 46.1pp24.3%above the sector's middle half▲ 21.7pp2.8%within the sector's middle half▼ 21.5pp13.5%within the sector's middle half▲ 10.8pp-5.2%below the sector's middle half▼ 18.7pp-43.0%below the sector's middle half▼ 37.8pp-19.3%below the sector's middle half▲ 23.6pp
above
within
below
The sector band is the middle half of the companies in Motion picture, video and television programme production, sound recording and music publishing activities (NACE 59). 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 €11,467, smaller than the loss of €30,120 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €64,465
Fixed assets
€1,127 ▼ 25.4%
Current assets
€63,338 ▼ 11.4%
Equity and liabilities €64,465
Equity
€43,196 ▼ 22.4%
Debt
€21,269 ▲ 22.6%
Debt's share of the balance-sheet total rises from 23.8% to 33.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€11,084▲
2024 · -€30,102
Cash flow
-€12,084▲
2024 · -€31,345
Quick ratio
2.66▼
2024 · 4.12
Debt to equity
0.49▲
2024 · 0.31
ROE
-28.9%▲
2024 · -56.3%
Interest coverage
-12.14▲
2024 · -76.88
Debt ≤ 1 year
€21,269▲
2024 · €17,350
Income taxes
€280▼
2024 · €852
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | - | €1,149 | - |
| Depreciation and write-downs of the year | €7,311 | €811 | €372 | €19 | €383 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €9,568 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,479 | €7,778 | €7,778 | €7,311 | €811 | €372 | €19 | €383 | ▲ 20× |
| Other operating charges640/8 | - | - | - | €924 | €1,091 | €1,447 | €1,086 | €1,678 | ▲ 54.5% |
| Gross operating margin9900 | €46,376 | €12,591 | €38,124 | €12,134 | €27,013 | -€4,092 | -€29,016 | -€9,406 | ▲ 67.6% |
| Operating profit (loss)9901 | €38,246 | €3,621 | €29,236 | €3,900 | €25,112 | -€5,911 | -€30,120 | -€11,467 | ▲ 61.9% |
| Financial income75/76B | - | - | - | €1,016 | €1,154 | €616 | - | €192 | - |
| Recurring financial income75 | €835 | €1,184 | €1,346 | €1,016 | €1,154 | €616 | - | €192 | - |
| Financial charges65/66B | - | - | - | €100 | €50 | €101 | €392 | €913 | ▲ 133% |
| Recurring financial charges65 | €39 | €48 | €78 | €100 | €50 | €101 | €392 | €913 | ▲ 133% |
| Profit (loss) for the period before taxes9903 | €39,042 | €4,757 | €30,504 | €4,816 | €26,215 | -€5,396 | -€30,512 | -€12,187 | ▲ 60.1% |
| Income taxes67/77 | - | €2,444 | -€462 | €1,463 | €8,160 | €50 | €852 | €280 | ▼ 67.2% |
| Profit (loss) for the period9904 | €39,042 | €2,314 | €30,966 | €3,352 | €18,056 | -€5,446 | -€31,364 | -€12,467 | ▲ 60.3% |
| Profit (loss) for the period to be appropriated9905 | €39,042 | €2,314 | €30,966 | €3,352 | €18,056 | -€5,446 | -€31,364 | -€12,467 | ▲ 60.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €80,115 | €87,885 | €127,461 | €120,854 | €133,392 | €104,894 | €73,013 | €64,465 | ▼ 11.7% |
| Fixed assets21/28 | €22,570 | €16,651 | €8,874 | €1,563 | €752 | €380 | €1,510 | €1,127 | ▼ 25.4% |
| Tangible fixed assets22/27 | €22,190 | €16,271 | €8,494 | €1,183 | €372 | - | €1,130 | €747 | ▼ 33.9% |
| Plant, machinery and equipment23 | - | - | - | €1,183 | €372 | - | €1,130 | €747 | ▼ 33.9% |
| Financial fixed assets28 | €380 | €380 | €380 | €380 | €380 | €380 | €380 | €380 | = |
| Current assets29/58 | €57,545 | €71,233 | €118,588 | €119,291 | €132,641 | €104,514 | €71,503 | €63,338 | ▼ 11.4% |
| Stocks and contracts in progress3 | - | - | - | - | - | - | - | €6,739 | - |
| Stocks30/36 | - | - | - | - | - | - | - | €6,739 | - |
| Amounts receivable within one year40/41 | €13,921 | €26,408 | €13,936 | €14,444 | €19,048 | €5,357 | €3,690 | €1,514 | ▼ 59.0% |
| Trade receivables40 | - | - | - | €23 | - | €100 | €2,001 | €1,510 | ▼ 24.6% |
| Other amounts receivable41 | - | - | - | €14,420 | €19,048 | €5,257 | €1,689 | €4 | ▼ 99.8% |
| Cash at bank and in hand54/58 | €42,990 | €43,904 | €103,809 | €103,991 | €107,817 | €92,259 | €61,971 | €53,357 | ▼ 13.9% |
| Deferred charges and accrued income490/1 | - | - | - | €856 | €5,776 | €6,898 | €5,841 | €1,729 | ▼ 70.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €80,115 | €87,885 | €127,461 | €120,854 | €133,392 | €104,894 | €73,013 | €64,465 | ▼ 11.7% |
| Equity10/15 | €77,786 | €80,099 | €111,065 | €94,417 | €92,473 | €87,027 | €55,663 | €43,196 | ▼ 22.4% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | - | - | €18,600 | €18,600 | - | - | - | - |
| Issued capital100 | - | - | - | €18,600 | €18,600 | - | - | - | - |
| Reserves13 | €65,393 | €65,393 | €65,393 | €75,817 | €73,873 | €68,427 | €37,063 | €31,400 | ▼ 15.3% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €31,400 | €31,400 | €31,400 | = |
| Legal reserve130 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | - | €31,400 | €31,400 | €31,400 | = |
| Distributable reserves133 | - | - | - | €73,957 | €72,013 | €37,027 | €5,663 | - | - |
| Profit (loss) carried forward14 | -€6,207 | -€3,894 | €27,072 | - | - | - | - | -€6,804 | - |
| Amounts payable17/49 | €2,329 | €7,785 | €16,396 | €26,436 | €40,920 | €17,867 | €17,350 | €21,269 | ▲ 22.6% |
| Amounts payable within one year42/48 | €2,329 | €7,785 | €16,396 | €26,436 | €40,920 | €17,867 | €17,350 | €21,269 | ▲ 22.6% |
| Trade debts44 | €628 | €3,222 | €1,538 | €527 | €5,394 | €2,881 | €2,436 | €474 | ▼ 80.5% |
| Suppliers440/4 | - | - | - | €527 | €5,394 | €2,881 | €2,436 | €474 | ▼ 80.5% |
| Taxes, remuneration and social security45 | - | - | - | €11,910 | €21,525 | €14,986 | €7,339 | €2,916 | ▼ 60.3% |
| Taxes450/3 | - | - | - | €11,910 | €21,525 | €14,986 | €7,339 | €2,916 | ▼ 60.3% |
| Other amounts payable47/48 | - | - | - | €14,000 | €14,000 | - | €7,575 | €17,879 | ▲ 136% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €39,042 | €2,314 | €30,966 | €3,352 | €18,056 | -€5,446 | -€31,364 | -€12,467 | ▲ 60.3% |
| + Depreciation and write-downs630 | €7,479 | €7,778 | €7,778 | €7,311 | €811 | €372 | €19 | €383 | ▲ 20× |
| Operating cash flow (approximation) | €46,521 | €10,091 | €38,743 | €10,663 | €18,866 | -€5,074 | -€31,345 | -€12,084 | ▲ 61.4% |
| Investment in fixed assets (approximation) | - | -€1,859 | €0 | €0 | €0 | €0 | -€1,149 | €0 | - |
| Change in cash | - | €913 | €59,905 | €182 | €3,826 | -€15,558 | -€30,288 | -€8,614 | ▲ 71.6% |
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, 5,831 companies had the same profile as CONTENT has now. Two years later, 84.6% were still going and 1.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
84.6%
was still going
13.4%
stopped otherwise
1.7%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of CONTENT itself is lower: 0.1% within 12 months. It rests on far more data about CONTENT 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 5,831 companies, not a prediction for CONTENT. 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 24 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 02-06-2026 | 2026-00132309 | |
| 31-12-2024 | micro format | 30-08-2025 | 2025-00451964 | |
| 31-12-2023 | micro format | 29-08-2024 | 2024-00401927 | |
| 31-12-2022 | micro format | 30-08-2023 | 2023-00430024 | |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20386962 | |
| 31-12-2020 | micro format | 30-07-2021 | 2021-44200601 | |
| 31-12-2019 | micro format | 18-09-2020 | 2020-54200420 | |
| 31-12-2018 | micro format | 31-07-2019 | 2019-42400380 | |
| 31-12-2017 | micro format | 31-07-2018 | 2018-41800471 | |
| 31-12-2016 | micro format | 31-08-2017 | 2017-57300061 |