Convivium
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 23-06-2026 at the NBB all 36 filings
Turnover
€5,915▼ 79.9%
2024 · €29,445
EBIT margin
Not meaningful: turnover is only a small part of operating income
Net result
€59,434▼ 19.4%
2024 · €73,696
Working capital
€727,068▲ 18.5%
2024 · €613,750
In the rankings
#2 company by staff growth in Forest, Health and social work sector#8 employer in Forest, Health and social work sector
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€5,915
▼ 79.9%
2025
20182025
Operating result
€62,608
▼ 19.8%
2025
20182025
Net result
€59,434
▼ 19.4%
2025
middle half of the sector
20182025
Equity
€612,354
▲ 5.6%
2025
middle half of the sector
20182025
Total assets
€1.5m
▲ 6.9%
2025
middle half of the sector
20182025
Debt
€756,597
▲ 4.4%
2025
20182025
Working capital
€727,068
▲ 18.5%
2025
middle half of the sector
20182025
Solvency
40.1%
▼ 0.5pp
2025
middle half of the sector
20182025
Current ratio
2.29
▲ 0.10
2025
middle half of the sector
20182025
Return on assets (ROA)
3.9%
▼ 1.3pp
2025
middle half of the sector
20182025
Staff (FTE)
28.4
▲ 6.8%
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
Turnover€0.04m-€0.03m▼ 23.9%€0.02m▼ 54.7%€0.03m▲ 67.0%€0.02m▼ 14.8%€0.03m▲ 30.0%€0.03m▲ 4.9%€0.006m▼ 79.9%
Operating result-€0.01m-€0.02m€0.04m▲ 144%-€0.002m-€0.03m▼ 1,202%€0.04m€0.08m▲ 78.9%€0.06m▼ 19.8%
Net result-€0.02m-€0.002m€0.005mwithin the sector's middle half▲ 175%-€0.007mbelow the sector's middle half-€0.03mwithin the sector's middle half▼ 346%€0.04mwithin the sector's middle half€0.07mwithin the sector's middle half▲ 88.2%€0.06mwithin the sector's middle half▼ 19.4%
Equity€0.7m-€0.6m▼ 3.8%€0.6mwithin the sector's middle half▼ 3.5%€0.6mwithin the sector's middle half▼ 5.5%€0.5mwithin the sector's middle half▼ 10.2%€0.5mwithin the sector's middle half▲ 2.4%€0.6mwithin the sector's middle half▲ 8.8%€0.6mwithin the sector's middle half▲ 5.6%
Total assets€1.6m-€1.5m▼ 7.5%€1.3mabove the sector's middle half▼ 11.5%€1.4mwithin the sector's middle half▲ 6.0%€1.5mwithin the sector's middle half▲ 5.6%€1.4mwithin the sector's middle half▼ 8.6%€1.4mwithin the sector's middle half▲ 5.6%€1.5mwithin the sector's middle half▲ 6.9%
Debt€0.7m-€0.7m▲ 1.5%€0.6m▼ 14.7%€0.8m▲ 20.2%€0.9m▲ 15.4%€0.7m▼ 20.8%€0.7m▲ 4.2%€0.8m▲ 4.4%
Working capital€0.7m-€0.5m▼ 26.9%€0.4mwithin the sector's middle half▼ 30.4%€0.5mwithin the sector's middle half▲ 44.8%€0.6mwithin the sector's middle half▲ 16.2%€0.6mabove the sector's middle half▼ 6.6%€0.6mwithin the sector's middle half▲ 6.6%€0.7mwithin the sector's middle half▲ 18.5%
Solvency40.8%-42.5%▲ 1.6pp46.3%within the sector's middle half▲ 3.8pp41.3%within the sector's middle half▼ 5.0pp35.1%below the sector's middle half▼ 6.2pp39.3%within the sector's middle half▲ 4.2pp40.5%within the sector's middle half▲ 1.2pp40.1%within the sector's middle half▼ 0.5pp
Current ratio2.46-1.98▼ 0.481.72within the sector's middle half▼ 0.262.12within the sector's middle half▲ 0.402.17within the sector's middle half▲ 0.052.21within the sector's middle half▲ 0.042.19within the sector's middle half▼ 0.032.29within the sector's middle half▲ 0.10
Return on assets (ROA)-1.2%-0.1%▲ 1.3pp0.4%within the sector's middle half▲ 0.2pp-0.5%below the sector's middle half▼ 0.9pp-2.2%within the sector's middle half▼ 1.7pp2.9%within the sector's middle half▲ 5.1pp5.2%within the sector's middle half▲ 2.3pp3.9%within the sector's middle half▼ 1.3pp
Staff (FTE)22.1-19▼ 14.0%19within the sector's middle half=21.5within the sector's middle half▲ 13.2%23.1within the sector's middle half▲ 7.4%24.7within the sector's middle half▲ 6.9%26.6within the sector's middle half▲ 7.7%28.4within the sector's middle half▲ 6.8%
above
within
below
The sector band is the middle half of the companies in Social work activities without accommodation (NACE 88). 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 20% lower than in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.5m
Fixed assets
€235,795 ▼ 20.9%
Current assets
€1.3m ▲ 14.2%
Equity and liabilities €1.5m
Equity
€612,354 ▲ 5.6%
Provisions
€159,147 ▲ 27.1%
Debt
€756,597 ▲ 4.4%
Debt's share of the balance-sheet total falls from 50.7% to 49.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€138,927▼
2024 · €151,471
Cash flow
€135,753▼
2024 · €147,132
Debt to equity
1.24▼
2024 · 1.25
ROE
9.7%▼
2024 · 12.7%
Interest coverage
43.28▲
2024 · 34.84
Debt ≤ 1 year
€565,236▲
2024 · €517,539
Debt > 1 year
€40,166▼
2024 · €55,146
Customer credit
15387 days▲
2024 · 1140 days
Supplier credit
143 days▼
2024 · 208 days
Staff costs
€1.7m▲
2024 · €1.6m
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 | 23 | 26 | 24 | 28 | 29 |
| full-time | 18 | 22 | 22 | 26 | 26 |
| part-time | 5 | 4 | 2 | 2 | 3 |
| in full-time equivalents | 22 | 25 | 23.6 | 27.6 | 28.4 |
| Average over the year, in full-time equivalents | 21.5 | 23.1 | 24.7 | 26.6 | 28.4 |
| On a permanent contract | 21 | 25 | 23 | 25 | 28 |
| Joined | 7 | 7 | 7 | 8 | 5 |
| Left | 6 | 4 | 9 | 4 | 4 |
| Training hours | 316 | 434 | 272 | 280 | 580 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €109,444 | €96,669 | €83,375 | €69,541 | - |
| Debts guaranteed by Belgian public bodies | - | - | - | - | €55,146 |
| Mortgages, amount registered | €225,000 | €225,000 | €225,000 | €225,000 | €225,000 |
| Mortgage mandates | €225,000 | €225,000 | €225,000 | €225,000 | €225,000 |
| Carrying value of the mortgaged assets | €266,350 | €229,459 | €192,569 | €155,679 | €118,789 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €14,622 | €3,512 | €25,744 | €64,611 | €15,371 |
| Financial fixed assets | €179 | €2,050 | €5,600 | €3,680 | - |
| Depreciation and write-downs of the year | €65,170 | €65,404 | €67,706 | €73,436 | €76,319 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €0.04m | €0.03m | €0.02m | €0.03m | €0.02m | €0.03m | €0.03m | €0.006m | ▼ 79.9% |
| Membership fees, donations, legacies and grants73 | - | - | - | €1.1m | €1.4m | €1.6m | €1.8m | €1.8m | ▲ 1.0% |
| Non-recurring operating income76A | - | - | - | €0.002m | €0.004m | €0.001m | €0.001m | €0.002m | ▲ 18.8% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €0.2m | €0.1m | €0.2m | €0.2m | €0.2m | ▼ 13.2% |
| Remuneration, social security and pensions62 | - | - | - | €0.9m | €1.2m | €1.4m | €1.6m | €1.7m | ▲ 5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.05m | €0.06m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.08m | ▲ 3.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.001m | -€0.003m | -€451 | €177 | -€0.001m | - |
| Other operating charges640/8 | - | - | - | €0.1m | €0.1m | €0.05m | €0.05m | €0.04m | ▼ 29.5% |
| Non-recurring operating charges66A | - | - | - | €0.006m | €0.003m | €372 | €0.004m | €0.002m | ▼ 41.2% |
| Gross operating margin9900 | €1.2m | €1.0m | €1.2m | €1.1m | €1.4m | €1.6m | €1.8m | €1.9m | ▲ 5.1% |
| Operating profit (loss)9901 | -€0.01m | €0.02m | €0.04m | -€0.002m | -€0.03m | €0.04m | €0.08m | €0.06m | ▼ 19.8% |
| Financial income75/76B | - | - | - | - | - | €0 | €9 | €36 | ▲ 277% |
| Recurring financial income75 | €2 | €0 | €0 | - | - | €0 | €9 | €36 | ▲ 277% |
| Financial charges65/66B | - | - | - | €0.005m | €0.006m | €0.004m | €0.004m | €0.003m | ▼ 26.2% |
| Recurring financial charges65 | €0.007m | €0.006m | €0.007m | €0.005m | €0.006m | €0.004m | €0.004m | €0.003m | ▼ 26.2% |
| Profit (loss) for the period before taxes9903 | -€0.02m | €0.01m | €0.005m | -€0.007m | -€0.03m | €0.04m | €0.07m | €0.06m | ▼ 19.4% |
| Profit (loss) for the period9904 | -€0.02m | €0.002m | €0.005m | -€0.007m | -€0.03m | €0.04m | €0.07m | €0.06m | ▼ 19.4% |
| Profit (loss) for the period to be appropriated9905 | -€0.02m | €0.002m | €0.005m | -€0.007m | -€0.03m | €0.04m | €0.07m | €0.06m | ▼ 19.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.6m | €1.5m | €1.3m | €1.4m | €1.5m | €1.4m | €1.4m | €1.5m | ▲ 6.9% |
| Fixed assets21/28 | €0.4m | €0.4m | €0.5m | €0.4m | €0.3m | €0.3m | €0.3m | €0.2m | ▼ 20.9% |
| Tangible fixed assets22/27 | €0.4m | €0.4m | €0.4m | €0.4m | €0.3m | €0.3m | €0.3m | €0.2m | ▼ 21.5% |
| Land and buildings22 | - | - | - | €0.3m | €0.2m | €0.2m | €0.2m | €0.1m | ▼ 23.7% |
| Furniture and vehicles24 | - | - | - | €0.02m | €0.006m | €0.007m | €0.04m | €0.02m | ▼ 42.6% |
| Other tangible fixed assets26 | - | - | - | €0.1m | €0.1m | €0.08m | €0.09m | €0.08m | ▼ 9.2% |
| Assets under construction and advance payments27 | - | - | - | - | - | €0.01m | - | - | - |
| Financial fixed assets28 | €0.003m | €0.003m | €0.004m | €0.004m | €0.006m | €0.01m | €0.02m | €0.01m | ▼ 9.4% |
| Current assets29/58 | €1.2m | €1.1m | €0.9m | €1.0m | €1.1m | €1.1m | €1.1m | €1.3m | ▲ 14.2% |
| Amounts receivable within one year40/41 | €0.6m | €0.5m | €0.3m | €0.4m | €0.6m | €0.4m | €0.3m | €0.5m | ▲ 34.3% |
| Trade receivables40 | - | - | - | €0.07m | €0.2m | €0.06m | €0.09m | €0.2m | ▲ 171% |
| Other amounts receivable41 | - | - | - | €0.3m | €0.4m | €0.3m | €0.2m | €0.2m | ▼ 16.2% |
| Current investments50/53 | - | - | - | - | - | - | €0.7m | - | - |
| Cash at bank and in hand54/58 | €0.6m | €0.5m | €0.6m | €0.6m | €0.5m | €0.6m | - | €0.8m | - |
| Deferred charges and accrued income490/1 | - | - | - | €0.04m | €0.04m | €0.04m | €0.05m | €0.05m | ▲ 2.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.6m | €1.5m | €1.3m | €1.4m | €1.5m | €1.4m | €1.4m | €1.5m | ▲ 6.9% |
| Equity10/15 | €0.7m | €0.6m | €0.6m | €0.6m | €0.5m | €0.5m | €0.6m | €0.6m | ▲ 5.6% |
| Contributions10/11 | - | - | - | - | - | - | €0.02m | €0.02m | = |
| Capital10 | - | - | - | - | - | - | €0.02m | €0.02m | = |
| Reserves13 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Profit (loss) carried forward14 | €0.3m | €0.3m | €0.3m | €0.3m | €0.2m | €0.3m | €0.3m | €0.4m | ▲ 17.6% |
| Investment grants15 | - | - | - | €0.2m | €0.1m | €0.1m | €0.08m | €0.06m | ▼ 32.6% |
| Provisions and deferred taxes16 | €0.2m | €0.1m | €0.08m | €0.06m | €0.08m | €0.1m | €0.1m | €0.2m | ▲ 27.1% |
| Provisions for liabilities and charges160/5 | - | - | - | €0 | €0.02m | €0.02m | €0.05m | €0.07m | ▲ 42.6% |
| Major repairs and maintenance162 | - | - | - | €0 | - | - | €0.05m | €0.06m | ▲ 24.2% |
| Other liabilities and charges164/5 | - | - | - | - | €0.02m | €0.02m | - | €0.009m | - |
| Amounts payable17/49 | €0.7m | €0.7m | €0.6m | €0.8m | €0.9m | €0.7m | €0.7m | €0.8m | ▲ 4.4% |
| Amounts payable after more than one year17 | €0.1m | €0.1m | €0.1m | €0.1m | €0.08m | €0.07m | €0.06m | €0.04m | ▼ 27.2% |
| Financial debts170/4 | - | - | - | €0.1m | €0.08m | €0.07m | €0.06m | €0.04m | ▼ 27.2% |
| Amounts payable within one year42/48 | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.6m | ▲ 9.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | ▲ 4.1% |
| Financial debts43 | - | - | - | €0.1m | €0.09m | €0.05m | €0.03m | €0.03m | = |
| Other loans439 | - | - | - | €0.1m | €0.09m | €0.05m | €0.03m | €0.03m | = |
| Trade debts44 | €0.04m | €0.03m | €0.01m | €0.04m | €0.06m | €0.05m | €0.1m | €0.06m | ▼ 40.6% |
| Suppliers440/4 | - | - | - | €0.04m | €0.06m | €0.05m | €0.1m | €0.06m | ▼ 40.6% |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.2m | €0.2m | €0.2m | €0.3m | ▲ 2.5% |
| Taxes450/3 | - | - | - | €0.02m | €0.02m | €0.03m | €0.03m | €0.03m | ▼ 3.8% |
| Remuneration and social security454/9 | - | - | - | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 3.5% |
| Accrued charges and deferred income492/3 | - | - | - | €0.2m | €0.3m | €0.2m | €0.2m | €0.2m | ▼ 0.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€19,211 | €1,713 | €4,710 | -€7,269 | -€32,406 | €39,162 | €73,696 | €59,434 | ▼ 19.4% |
| + Depreciation and write-downs630 | €47,771 | €57,493 | €67,070 | €65,170 | €65,404 | €67,706 | €73,436 | €76,319 | ▲ 3.9% |
| Operating cash flow (approximation) | €28,561 | €59,206 | €71,779 | €57,901 | €32,998 | €106,868 | €147,132 | €135,753 | ▼ 7.7% |
| Investment in fixed assets (approximation) | - | -€86,325 | -€83,101 | -€14,598 | -€5,562 | -€31,344 | -€68,291 | -€13,931 | ▲ 79.6% |
| Change in cash | - | -€96,291 | €48,461 | €25,132 | -€92,480 | €120,973 | - | - | - |
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, 14,766 companies had the same profile as Convivium has now. Two years later, 96.2% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
96.2%
was still going
3.5%
stopped otherwise
0.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Convivium 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 14,766 companies, not a prediction for Convivium. 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 36 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 23-06-2026 | 2026-00196123 | |
| 31-12-2024 | abbreviated format | 07-07-2025 | 2025-00241426 | |
| 31-12-2024 | full format | 04-07-2025 | 2025-00241406 | |
| 31-12-2023 | full format | 18-06-2024 | 2024-00142962 | |
| 31-12-2023 | abbreviated format | 18-06-2024 | 2024-00142864 | |
| 31-12-2022 | abbreviated format | 07-07-2023 | 2023-00213173 | |
| 31-12-2022 | full format | 06-07-2023 | 2023-00215511 | |
| 31-12-2021 | abbreviated format | 24-06-2022 | 2022-20098614 | |
| 31-12-2021 | full format | 17-06-2022 | 2022-20076205 | |
| 31-12-2020 | full format | 10-06-2021 | 2021-19800057 |