CONVODENT
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 24-11-2025 PDF all 44 filings
Turnover
€81,722▲ 22.9%
2024 · €66,472
EBIT margin
47.4%▲ 44.2pp
2024 · 3.2%
Net result
€4,018▲ 11×
2024 · €350
Working capital
€64,501▲ 8.7%
2024 · €59,330
Multi-year overview
2019 to 2025, 7 financial yearsTurnover
€81,722
▲ 22.9%
2025
20192025
Operating result
€38,761
▲ 18×
2025
20192025
Net result
€4,018
▲ 11×
2025
20192025
EBIT margin
47.4%
▲ 44.2pp
2025
20192025
Equity
€189,800
▲ 2.2%
2025
20192025
Total assets
€251,352
▲ 27.1%
2025
20192025
Debt
€61,553
▲ 414%
2025
20192025
Working capital
€64,501
▲ 8.7%
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Turnover€66,472€81,722▲ 22.9%
Operating result-€18,061--€13,939▲ 22.8%-€12,158▲ 12.8%-€8,678▲ 28.6%-€9,267▼ 6.8%€2,154€38,761▲ 18×
Net result-€18,100--€17,999▲ 0.6%-€15,982▲ 11.2%-€12,457▲ 22.1%-€13,248▼ 6.3%€350€4,018▲ 11×
EBIT margin3.2%47.4%▲ 44.2pp
Equity€139,273-€121,274▼ 12.9%€105,292▼ 13.2%€92,835▼ 11.8%€79,587▼ 14.3%€185,781▲ 133%€189,800▲ 2.2%
Total assets€255,912-€252,255▼ 1.4%€224,632▼ 11.0%€194,699▼ 13.3%€167,338▼ 14.1%€197,755▲ 18.2%€251,352▲ 27.1%
Debt€116,639-€130,981▲ 12.3%€119,340▼ 8.9%€101,864▼ 14.6%€87,751▼ 13.9%€11,973▼ 86.4%€61,553▲ 414%
Working capital-€43,482--€97,388▼ 124%-€88,702▲ 8.9%-€76,831▲ 13.4%-€65,811▲ 14.3%€59,330€64,501▲ 8.7%
The operating result for 2025 is 18 times that of 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €251,352
Fixed assets
€125,299 ▼ 0.9%
Current assets
€126,053 ▲ 76.8%
Equity and liabilities €251,352
Equity
€189,800 ▲ 2.2%
Debt
€61,553 ▲ 414%
Debt's share of the balance-sheet total rises from 6.1% to 24.5%. Equity and debt are higher.
Key figures and ratios
Current ratio
2.05▼
2024 · 5.96
Debt to equity
0.32▲
2024 · 0.06
ROE
2.1%▲
2024 · 0.2%
ROA
1.6%▲
2024 · 0.2%
Debt ≤ 1 year
€61,553▲
2024 · €11,973
Income taxes
€30,635
Customer credit
34 days▲
2024 · 29 days
Supplier credit
14 days▲
2024 · 4 days
Staff costs
€926▲
2024 · -€3,507
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2021 | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | - | €1,924 | - |
| Depreciation and write-downs of the year | €24,345 | €24,345 | €24,345 | €24,732 | - |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | - | €66,472 | €81,722 | ▲ 22.9% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | - | €39,005 | €37,277 | ▼ 4.4% |
| Remuneration, social security and pensions62 | - | €12,650 | €13,347 | €12,951 | €4,315 | -€3,507 | €926 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,224 | €26,474 | €24,345 | €24,345 | €24,345 | €24,732 | - | - |
| Other operating charges640/8 | - | €720 | €1,887 | €1,771 | €1,557 | €4,087 | €4,758 | ▲ 16.4% |
| Gross operating margin9900 | -€2,868 | €25,905 | €27,421 | €30,389 | €20,950 | €27,466 | €44,445 | ▲ 61.8% |
| Operating profit (loss)9901 | -€18,061 | -€13,939 | -€12,158 | -€8,678 | -€9,267 | €2,154 | €38,761 | ▲ 18× |
| Financial income75/76B | - | - | - | - | - | €160 | €4 | ▼ 97.5% |
| Recurring financial income75 | - | - | - | - | - | €160 | €4 | ▼ 97.5% |
| Financial charges65/66B | - | €4,060 | €3,824 | €3,779 | €3,981 | €1,964 | €4,111 | ▲ 109% |
| Recurring financial charges65 | €39 | €4,060 | €3,824 | €3,779 | €3,981 | €1,964 | €723 | ▼ 63.2% |
| Non-recurring financial charges66B | - | - | - | - | - | - | €3,389 | - |
| Profit (loss) for the period before taxes9903 | -€18,100 | -€17,999 | -€15,982 | -€12,457 | -€13,248 | €350 | €34,654 | ▲ 99× |
| Income taxes67/77 | - | - | - | - | - | - | €30,635 | - |
| Profit (loss) for the period9904 | -€18,100 | -€17,999 | -€15,982 | -€12,457 | -€13,248 | €350 | €4,018 | ▲ 11× |
| Profit (loss) for the period to be appropriated9905 | -€18,100 | -€17,999 | -€15,982 | -€12,457 | -€13,248 | €350 | €4,018 | ▲ 11× |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €255,912 | €252,255 | €224,632 | €194,699 | €167,338 | €197,755 | €251,352 | ▲ 27.1% |
| Fixed assets21/28 | €182,755 | €222,681 | €198,336 | €173,991 | €149,646 | €126,451 | €125,299 | ▼ 0.9% |
| Tangible fixed assets22/27 | €182,755 | €222,533 | €198,188 | €173,843 | €149,498 | €126,303 | €125,150 | ▼ 0.9% |
| Land and buildings22 | - | €222,533 | €198,188 | €173,843 | €149,498 | €125,150 | €125,150 | = |
| Plant, machinery and equipment23 | - | - | - | - | - | €1,153 | - | - |
| Financial fixed assets28 | - | €148 | €148 | €148 | €148 | €149 | €149 | = |
| Current assets29/58 | €73,158 | €29,574 | €26,296 | €20,708 | €17,692 | €71,304 | €126,053 | ▲ 76.8% |
| Stocks and contracts in progress3 | €66,253 | - | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | - | - | - | - | - | €58,383 | €93,346 | ▲ 59.9% |
| Trade receivables40 | - | - | - | - | - | €5,223 | €7,657 | ▲ 46.6% |
| Other amounts receivable41 | - | - | - | - | - | €53,160 | €85,689 | ▲ 61.2% |
| Current investments50/53 | - | €0 | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €5,705 | €28,374 | €25,547 | €20,221 | €17,323 | €12,920 | €32,707 | ▲ 153% |
| Deferred charges and accrued income490/1 | - | €1,200 | €749 | €487 | €369 | - | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €255,912 | €252,255 | €224,632 | €194,699 | €167,338 | €197,755 | €251,352 | ▲ 27.1% |
| Equity10/15 | €139,273 | €121,274 | €105,292 | €92,835 | €79,587 | €185,781 | €189,800 | ▲ 2.2% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Revaluation surpluses12 | - | €331,856 | €331,856 | €331,856 | €331,856 | €331,856 | €331,856 | = |
| Reserves13 | €37,965 | €37,965 | €37,965 | €37,965 | €37,965 | €66,145 | €37,965 | ▼ 42.6% |
| Non-distributable reserves130/1 | - | €37,965 | €37,965 | €37,965 | €37,965 | €37,965 | €37,965 | = |
| Legal reserve130 | - | €1,446 | €1,446 | €1,446 | €1,446 | €1,446 | €1,446 | = |
| Reserves not available under the articles1311 | - | €17,174 | €17,174 | €17,174 | €17,174 | €17,174 | €36,520 | ▲ 113% |
| Other1319 | - | €19,345 | €19,345 | €19,345 | €19,345 | €19,345 | - | - |
| Tax-exempt reserves132 | - | - | - | - | - | €28,180 | - | - |
| Profit (loss) carried forward14 | -€292,549 | -€310,547 | -€326,529 | -€338,986 | -€352,234 | -€274,220 | -€242,022 | ▲ 11.7% |
| Amounts payable17/49 | €116,639 | €130,981 | €119,340 | €101,864 | €87,751 | €11,973 | €61,553 | ▲ 414% |
| Amounts payable within one year42/48 | €116,639 | €126,962 | €114,998 | €97,539 | €83,503 | €11,973 | €61,553 | ▲ 414% |
| Trade debts44 | €103 | €14,903 | €12,741 | €6,842 | €7,937 | €421 | €1,466 | ▲ 248% |
| Suppliers440/4 | - | €14,903 | €12,741 | €6,842 | €7,937 | €421 | €1,466 | ▲ 248% |
| Taxes, remuneration and social security45 | - | €1,758 | €6,734 | €12,843 | €14,143 | €11,153 | €24,686 | ▲ 121% |
| Taxes450/3 | - | €1,758 | €6,734 | €12,843 | €14,143 | €11,153 | €24,686 | ▲ 121% |
| Other amounts payable47/48 | - | €110,301 | €95,523 | €77,854 | €61,423 | €400 | €35,400 | ▲ 89× |
| Accrued charges and deferred income492/3 | - | €4,019 | €4,342 | €4,325 | €4,248 | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€18,100 | -€17,999 | -€15,982 | -€12,457 | -€13,248 | €350 | €4,018 | ▲ 11× |
| + Depreciation and write-downs630 | €13,224 | €26,474 | €24,345 | €24,345 | €24,345 | €24,732 | - | - |
| Operating cash flow (approximation) | -€4,876 | €8,475 | €8,363 | €11,888 | €11,097 | €25,082 | €4,018 | ▼ 84.0% |
| Investment in fixed assets (approximation) | - | -€66,400 | €0 | €0 | €0 | -€1,537 | €1,153 | - |
| Change in cash | - | €22,669 | -€2,827 | -€5,326 | -€2,898 | -€4,403 | €19,787 | - |
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, 17,041 companies had the same profile as CONVODENT has now. Two years later, 94.3% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
94.3%
was still going
4.9%
stopped otherwise
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of CONVODENT itself: 0.2% 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 17,041 companies, not a prediction for CONVODENT. 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 44 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 24-11-2025 | 2025-00569563 | |
| 30-06-2024 | micro format | 13-09-2025 | 2025-00490707 | |
| 30-06-2023 | micro format | 29-12-2024 | 2025-00630620 | |
| 30-06-2022 | micro format | 29-12-2024 | 2024-00628443 | |
| 30-06-2021 | micro format | 29-12-2024 | 2024-00628196 | |
| 30-06-2020 | micro format | 16-12-2024 | 2024-00620311 | |
| 30-06-2019 | micro format | 21-02-2020 | 2020-05400402 | |
| 30-06-2018 | micro format | 07-02-2019 | 2019-04800021 | |
| 30-06-2017 | micro format | 23-05-2018 | 2018-13500031 | |
| 30-06-2016 | abbreviated format | 21-03-2017 | 2017-06700549 |