CONTENTO
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 33 days after the deadline Filed on 2 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00501968.
Annual accounts 2025 filed on 02-09-2026 at the NBB all 24 filings
Equity
€80,942▼ 0.6%
2024 · €81,459
Total assets
€94,598▼ 8.6%
2024 · €103,552
Net result
-€518
2024 · €6,871
Working capital
€80,717▼ 0.6%
2024 · €81,234
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€426
2025
20182025
Net result
-€518
2025
lowest quarter of the sector
20182025
Equity
€80,942
▼ 0.6%
2025
middle half of the sector
20182025
Total assets
€94,598
▼ 8.6%
2025
middle half of the sector
20182025
Debt
€13,656
▼ 38.2%
2025
20182025
Working capital
€80,717
▼ 0.6%
2025
middle half of the sector
20182025
Solvency
85.6%
▲ 6.9pp
2025
highest quarter of the sector
20182025
Current ratio
6.91
▲ 2.23
2025
highest quarter of the sector
20182025
Return on assets (ROA)
-0.5%
▼ 7.2pp
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
Operating result€2,495-€15,568▲ 524%€8,122▼ 47.8%€11,811▲ 45.4%€15,606▲ 32.1%€14,101▼ 9.6%€10,423▼ 26.1%-€426
Net result€1,488-€9,480▲ 537%€5,363within the sector's middle half▼ 43.4%€7,646within the sector's middle half▲ 42.6%€10,905within the sector's middle half▲ 42.6%€9,904within the sector's middle half▼ 9.2%€6,871within the sector's middle half▼ 30.6%-€518below the sector's middle half
Equity€57,167-€54,648▼ 4.4%€46,133within the sector's middle half▼ 15.6%€53,779within the sector's middle half▲ 16.6%€64,684within the sector's middle half▲ 20.3%€74,588within the sector's middle half▲ 15.3%€81,459within the sector's middle half▲ 9.2%€80,942within the sector's middle half▼ 0.6%
Total assets€83,092-€90,975▲ 9.5%€72,366below the sector's middle half▼ 20.5%€77,858below the sector's middle half▲ 7.6%€96,053within the sector's middle half▲ 23.4%€99,965within the sector's middle half▲ 4.1%€103,552within the sector's middle half▲ 3.6%€94,598within the sector's middle half▼ 8.6%
Debt€25,925-€36,327▲ 40.1%€26,233▼ 27.8%€24,079▼ 8.2%€31,368▲ 30.3%€25,377▼ 19.1%€22,093▼ 12.9%€13,656▼ 38.2%
Working capital€56,942-€53,673▼ 5.7%€45,533within the sector's middle half▼ 15.2%€53,554within the sector's middle half▲ 17.6%€64,459within the sector's middle half▲ 20.4%€74,363within the sector's middle half▲ 15.4%€81,234within the sector's middle half▲ 9.2%€80,717within the sector's middle half▼ 0.6%
Solvency68.8%-60.1%▼ 8.7pp63.7%within the sector's middle half▲ 3.7pp69.1%within the sector's middle half▲ 5.3pp67.3%within the sector's middle half▼ 1.7pp74.6%within the sector's middle half▲ 7.3pp78.7%within the sector's middle half▲ 4.1pp85.6%above the sector's middle half▲ 6.9pp
Current ratio3.20-2.48▼ 0.722.74within the sector's middle half▲ 0.263.22within the sector's middle half▲ 0.493.05within the sector's middle half▼ 0.173.93within the sector's middle half▲ 0.884.68within the sector's middle half▲ 0.756.91above the sector's middle half▲ 2.23
Return on assets (ROA)1.8%-10.4%▲ 8.6pp7.4%within the sector's middle half▼ 3.0pp9.8%within the sector's middle half▲ 2.4pp11.4%within the sector's middle half▲ 1.5pp9.9%within the sector's middle half▼ 1.4pp6.6%within the sector's middle half▼ 3.3pp-0.5%below the sector's middle half▼ 7.2pp
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 €426, after a profit of €10,423 in 2024. It is the lowest result since 2021.
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 €94,598
Fixed assets
€225 =
Current assets
€94,373 ▼ 8.7%
Equity and liabilities €94,598
Equity
€80,942 ▼ 0.6%
Debt
€13,656 ▼ 38.2%
Debt's share of the balance-sheet total falls from 21.3% to 14.4%. Equity and debt are lower.
Key figures and ratios
Quick ratio
6.73▲
2024 · 4.42
Debt to equity
0.17▼
2024 · 0.27
ROE
-0.6%▼
2024 · 8.4%
Debt ≤ 1 year
€13,656▼
2024 · €22,093
Income taxes
€0▼
2024 · €3,436
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 |
|---|---|---|---|---|---|
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €375 | €0 | - | - | - |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €375 | €375 | €375 | €0 | - | - | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | -€2,528 | €0 | -€8,427 | €0 | - |
| Other operating charges640/8 | - | - | - | €348 | €2,876 | €384 | €8,811 | €403 | ▼ 95.4% |
| Gross operating margin9900 | €13,798 | €16,290 | €8,844 | €12,534 | €15,954 | €14,485 | €10,807 | -€24 | - |
| Operating profit (loss)9901 | €2,495 | €15,568 | €8,122 | €11,811 | €15,606 | €14,101 | €10,423 | -€426 | - |
| Financial charges65/66B | - | - | - | €119 | €194 | €76 | €116 | €91 | ▼ 21.4% |
| Recurring financial charges65 | - | €205 | €51 | €119 | €194 | €76 | €116 | €91 | ▼ 21.4% |
| Profit (loss) for the period before taxes9903 | €2,495 | €15,363 | €8,070 | €11,692 | €15,413 | €14,026 | €10,307 | -€518 | - |
| Income taxes67/77 | €1,008 | €5,882 | €2,707 | €4,046 | €4,508 | €4,122 | €3,436 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €1,488 | €9,480 | €5,363 | €7,646 | €10,905 | €9,904 | €6,871 | -€518 | - |
| Profit (loss) for the period to be appropriated9905 | €1,488 | €9,480 | €5,363 | €7,646 | €10,905 | €9,904 | €6,871 | -€518 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €83,092 | €90,975 | €72,366 | €77,858 | €96,053 | €99,965 | €103,552 | €94,598 | ▼ 8.6% |
| Fixed assets21/28 | €225 | €975 | €600 | €225 | €225 | €225 | €225 | €225 | = |
| Tangible fixed assets22/27 | - | €750 | €375 | €0 | - | - | - | - | - |
| Plant, machinery and equipment23 | - | - | - | €0 | - | - | - | - | - |
| Financial fixed assets28 | €225 | €225 | €225 | €225 | €225 | €225 | €225 | €225 | = |
| Current assets29/58 | €82,867 | €90,000 | €71,766 | €77,633 | €95,828 | €99,740 | €103,327 | €94,373 | ▼ 8.7% |
| Stocks and contracts in progress3 | €6,003 | €4,294 | €7,542 | €2,970 | €1,760 | €2,640 | €5,640 | €2,520 | ▼ 55.3% |
| Stocks30/36 | - | - | - | €2,970 | €1,760 | €2,640 | €5,640 | €2,520 | ▼ 55.3% |
| Amounts receivable within one year40/41 | €14,074 | €14,600 | €12,007 | €13,889 | €27,229 | €43,070 | €41,175 | €5,103 | ▼ 87.6% |
| Trade receivables40 | - | - | - | €13,780 | €27,120 | €42,962 | €40,503 | €2,809 | ▼ 93.1% |
| Other amounts receivable41 | - | - | - | €109 | €109 | €109 | €673 | €2,294 | ▲ 241% |
| Cash at bank and in hand54/58 | €62,790 | €71,106 | €52,217 | €60,775 | €66,839 | €54,030 | €56,511 | €86,750 | ▲ 53.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €83,092 | €90,975 | €72,366 | €77,858 | €96,053 | €99,965 | €103,552 | €94,598 | ▼ 8.6% |
| Equity10/15 | €57,167 | €54,648 | €46,133 | €53,779 | €64,684 | €74,588 | €81,459 | €80,942 | ▼ 0.6% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €13,726 | €23,206 | €27,533 | €35,179 | €46,084 | €55,988 | €62,859 | €62,859 | = |
| 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 | = |
| Distributable reserves133 | - | - | - | €33,319 | €44,224 | €54,128 | €60,999 | €60,999 | = |
| Profit (loss) carried forward14 | €24,842 | €12,842 | €0 | €0 | - | - | - | -€518 | - |
| Amounts payable17/49 | €25,925 | €36,327 | €26,233 | €24,079 | €31,368 | €25,377 | €22,093 | €13,656 | ▼ 38.2% |
| Amounts payable within one year42/48 | €25,925 | €36,327 | €26,233 | €24,079 | €31,368 | €25,377 | €22,093 | €13,656 | ▼ 38.2% |
| Trade debts44 | €7,090 | €5,391 | €1,793 | €232 | €7,908 | €773 | €699 | €800 | ▲ 14.5% |
| Suppliers440/4 | - | - | - | €232 | €7,908 | €773 | €699 | €800 | ▲ 14.5% |
| Taxes, remuneration and social security45 | - | - | - | €7,163 | €9,267 | €8,996 | €4,331 | €0 | ▼ 100% |
| Taxes450/3 | - | - | - | €7,163 | €9,267 | €8,996 | €4,331 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | €16,685 | €14,193 | €15,608 | €17,063 | €12,856 | ▼ 24.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,488 | €9,480 | €5,363 | €7,646 | €10,905 | €9,904 | €6,871 | -€518 | - |
| + Depreciation and write-downs630 | - | €375 | €375 | €375 | €0 | - | - | - | - |
| Operating cash flow (approximation) | €1,488 | €9,855 | €5,738 | €8,021 | €10,905 | €9,904 | €6,871 | -€518 | - |
| Investment in fixed assets (approximation) | - | -€1,124 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €8,316 | -€18,889 | €8,557 | €6,065 | -€12,810 | €2,482 | €30,238 | ▲ 12× |
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 CONTENTO 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 CONTENTO itself: < 0.1% 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 12,322 companies, not a prediction for CONTENTO. 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 | 02-09-2026 | 2026-00501968 | |
| 31-12-2024 | micro format | 28-08-2025 | 2025-00441355 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00435845 | |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00423714 | |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20384779 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-63200165 | |
| 31-12-2019 | micro format | 09-12-2020 | 2020-75100077 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-59300240 | |
| 31-12-2017 | micro format | 29-08-2018 | 2018-55800517 | |
| 31-12-2016 | abbreviated format | 30-08-2017 | 2017-50500410 |