CRANINX
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 22-06-2026 at the NBB all 25 filings
Turnover
≈ €370,000
Estimated: probably between €280,000 and €760,000
Total assets
€62,455▼ 19.1%
2024 · €77,203
Net result
-€8,565
2024 · €1,956
Working capital
-€12,960▼ 26.0%
2024 · -€10,284
In the rankings
#4 oldest company in Gingelom, Construction sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€5,973
2025
20182025
Net result
-€8,565
2025
lowest quarter of the sector
20182025
Equity
€20,619
▼ 29.3%
2025
middle half of the sector
20182025
Total assets
€62,455
▼ 19.1%
2025
lowest quarter of the sector
20182025
Debt
€41,836
▼ 12.9%
2025
20182025
Working capital
-€12,960
▼ 26.0%
2025
lowest quarter of the sector
20182025
Solvency
33.0%
▼ 4.8pp
2025
middle half of the sector
20182025
Current ratio
0.64
▼ 0.07
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
-13.7%
▼ 16.2pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
1
=
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€20,946--€3,533€17,679-€20,046-€4,960▲ 75.3%€4,856€4,208▼ 13.3%-€5,973
Net result€17,739--€4,392€16,466within the sector's middle half-€21,810below the sector's middle half-€6,841below the sector's middle half▲ 68.6%€2,015within the sector's middle half€1,956within the sector's middle half▼ 2.9%-€8,565below the sector's middle half
Equity€41,790-€37,398▼ 10.5%€53,864within the sector's middle half▲ 44.0%€32,054within the sector's middle half▼ 40.5%€25,213within the sector's middle half▼ 21.3%€27,228within the sector's middle half▲ 8.0%€29,184within the sector's middle half▲ 7.2%€20,619within the sector's middle half▼ 29.3%
Total assets€82,332-€68,095▼ 17.3%€117,270within the sector's middle half▲ 72.2%€90,540within the sector's middle half▼ 22.8%€109,920within the sector's middle half▲ 21.4%€83,317within the sector's middle half▼ 24.2%€77,203within the sector's middle half▼ 7.3%€62,455below the sector's middle half▼ 19.1%
Debt€40,542-€30,697▼ 24.3%€63,406▲ 107%€58,486▼ 7.8%€84,707▲ 44.8%€56,089▼ 33.8%€48,019▼ 14.4%€41,836▼ 12.9%
Working capital€22,694-€20,503▼ 9.7%€35,221within the sector's middle half▲ 71.8%€12,237within the sector's middle half▼ 65.3%-€10,057below the sector's middle half-€9,673below the sector's middle half▲ 3.8%-€10,284below the sector's middle half▼ 6.3%-€12,960below the sector's middle half▼ 26.0%
Solvency50.8%-54.9%▲ 4.2pp45.9%within the sector's middle half▼ 9.0pp35.4%within the sector's middle half▼ 10.5pp22.9%within the sector's middle half▼ 12.5pp32.7%within the sector's middle half▲ 9.7pp37.8%within the sector's middle half▲ 5.1pp33.0%within the sector's middle half▼ 4.8pp
Current ratio1.62-1.67▲ 0.052.52within the sector's middle half▲ 0.851.49within the sector's middle half▼ 1.030.78below the sector's middle half▼ 0.710.69below the sector's middle half▼ 0.090.71below the sector's middle half▲ 0.020.64below the sector's middle half▼ 0.07
Return on assets (ROA)21.5%--6.4%▼ 28.0pp14.0%within the sector's middle half▲ 20.5pp-24.1%below the sector's middle half▼ 38.1pp-6.2%below the sector's middle half▲ 17.9pp2.4%within the sector's middle half▲ 8.6pp2.5%within the sector's middle half▲ 0.1pp-13.7%below the sector's middle half▼ 16.2pp
Staff (FTE)1.1-1.4▲ 27.3%1.1within the sector's middle half▼ 21.4%1.1=1▼ 9.1%1=1=1=
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 €5,973, after a profit of €4,208 in 2024.
Turnover and EBIT margin are not published. The 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 €62,455
Fixed assets
€39,580 ▼ 24.7%
Current assets
€22,875 ▼ 7.2%
Equity and liabilities €62,455
Equity
€20,619 ▼ 29.3%
Debt
€41,836 ▼ 12.9%
Debt's share of the balance-sheet total rises from 62.2% to 67.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€8,075▼
2024 · €17,894
Cash flow
€5,483▼
2024 · €15,642
Debt to equity
2.03▲
2024 · 1.65
ROE
-41.5%▼
2024 · 6.7%
Interest coverage
3.43▼
2024 · 8.49
Debt ≤ 1 year
€35,835▲
2024 · €34,933
Debt > 1 year
€6,001▼
2024 · €13,086
Income taxes
€237▲
2024 · €152
Staff costs
€62,808▲
2024 · €54,091
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 | 1 | 1 | 1 | 1 | 1 |
| full-time | 1 | 1 | 1 | 1 | 1 |
| part-time | 0 | 0 | 0 | 0 | 0 |
| in full-time equivalents | 1 | 1 | 1 | 1 | 1 |
| Average over the year, in full-time equivalents | 1.1 | 1 | 1 | 1 | 1 |
| On a permanent contract | 1 | 1 | 1 | 1 | 1 |
| Joined | 1 | - | - | - | - |
| Left | 1 | - | - | - | - |
| Training hours | 0 | - | - | - | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €7,233 | €31,481 | €2,067 | €4,106 | €1,074 |
| Financial fixed assets | - | - | - | €5 | - |
| Depreciation and write-downs of the year | €12,660 | €10,848 | €13,992 | €13,686 | €14,048 |
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 | - | - | - | - | - | - | - | €1,800 | - |
| Remuneration, social security and pensions62 | - | - | - | €52,139 | €52,035 | €58,182 | €54,091 | €62,808 | ▲ 16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,882 | €10,388 | €10,357 | €12,660 | €10,848 | €13,992 | €13,686 | €14,048 | ▲ 2.6% |
| Other operating charges640/8 | - | - | - | €1,323 | €1,745 | €2,512 | €2,397 | €2,195 | ▼ 8.4% |
| Gross operating margin9900 | €82,911 | €59,236 | €82,533 | €46,076 | €59,668 | €79,542 | €74,382 | €73,078 | ▼ 1.8% |
| Operating profit (loss)9901 | €20,946 | -€3,533 | €17,679 | -€20,046 | -€4,960 | €4,856 | €4,208 | -€5,973 | - |
| Financial income75/76B | - | - | - | - | - | - | €7 | €2 | ▼ 71.4% |
| Recurring financial income75 | - | €126 | - | - | - | - | €7 | €2 | ▼ 71.4% |
| Financial charges65/66B | - | - | - | €1,638 | €1,747 | €2,695 | €2,107 | €2,357 | ▲ 11.9% |
| Recurring financial charges65 | €1,287 | €843 | €1,079 | €1,638 | €1,747 | €2,695 | €2,107 | €2,357 | ▲ 11.9% |
| Profit (loss) for the period before taxes9903 | €19,659 | -€4,250 | €16,600 | -€21,684 | -€6,707 | €2,161 | €2,108 | -€8,328 | - |
| Income taxes67/77 | €1,920 | €142 | €134 | €126 | €134 | €146 | €152 | €237 | ▲ 55.9% |
| Profit (loss) for the period9904 | €17,739 | -€4,392 | €16,466 | -€21,810 | -€6,841 | €2,015 | €1,956 | -€8,565 | - |
| Profit (loss) for the period to be appropriated9905 | €17,739 | -€4,392 | €16,466 | -€21,810 | -€6,841 | €2,015 | €1,956 | -€8,565 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €82,332 | €68,095 | €117,270 | €90,540 | €109,920 | €83,317 | €77,203 | €62,455 | ▼ 19.1% |
| Fixed assets21/28 | €22,888 | €16,895 | €58,848 | €53,421 | €74,054 | €62,129 | €52,554 | €39,580 | ▼ 24.7% |
| Tangible fixed assets22/27 | €22,838 | €16,095 | €58,048 | €52,621 | €73,254 | €61,329 | €51,749 | €38,775 | ▼ 25.1% |
| Plant, machinery and equipment23 | - | - | - | €11,127 | €14,023 | €11,378 | €8,210 | €5,170 | ▼ 37.0% |
| Furniture and vehicles24 | - | - | - | €557 | €25,117 | €22,660 | €23,070 | €19,959 | ▼ 13.5% |
| Leasing and similar rights25 | - | - | - | €40,937 | €34,114 | €27,291 | €20,469 | €13,646 | ▼ 33.3% |
| Financial fixed assets28 | €50 | €800 | €800 | €800 | €800 | €800 | €805 | €805 | = |
| Current assets29/58 | €59,444 | €51,200 | €58,422 | €37,119 | €35,866 | €21,188 | €24,649 | €22,875 | ▼ 7.2% |
| Stocks and contracts in progress3 | - | - | - | - | - | €4,922 | - | - | - |
| Stocks30/36 | - | - | - | - | - | €4,922 | - | - | - |
| Amounts receivable within one year40/41 | €46,034 | €32,380 | €16,261 | €25,109 | €23,679 | €12,613 | €16,392 | €21,024 | ▲ 28.3% |
| Trade receivables40 | - | - | - | €22,788 | €18,421 | €9,698 | €13,048 | €19,101 | ▲ 46.4% |
| Other amounts receivable41 | - | - | - | €2,321 | €5,258 | €2,915 | €3,344 | €1,923 | ▼ 42.5% |
| Cash at bank and in hand54/58 | €32 | €11,808 | €8,656 | €4,360 | €6 | €6 | €3,382 | - | - |
| Deferred charges and accrued income490/1 | - | - | - | €7,650 | €12,181 | €3,647 | €4,875 | €1,851 | ▼ 62.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €82,332 | €68,095 | €117,270 | €90,540 | €109,920 | €83,317 | €77,203 | €62,455 | ▼ 19.1% |
| Equity10/15 | €41,790 | €37,398 | €53,864 | €32,054 | €25,213 | €27,228 | €29,184 | €20,619 | ▼ 29.3% |
| Contributions10/11 | €6,250 | €6,250 | - | €6,250 | €6,250 | €6,250 | €6,250 | €6,250 | = |
| Reserves13 | €35,540 | €35,540 | €47,614 | €47,614 | €47,614 | €47,614 | €47,614 | €47,614 | = |
| Non-distributable reserves130/1 | - | - | - | €1,875 | €1,875 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,875 | €1,875 | - | - | - | - |
| Distributable reserves133 | - | - | - | €45,739 | €45,739 | €47,614 | €47,614 | €47,614 | = |
| Profit (loss) carried forward14 | - | -€4,392 | - | -€21,810 | -€28,651 | -€26,636 | -€24,680 | -€33,245 | ▼ 34.7% |
| Amounts payable17/49 | €40,542 | €30,697 | €63,406 | €58,486 | €84,707 | €56,089 | €48,019 | €41,836 | ▼ 12.9% |
| Amounts payable after more than one year17 | €3,792 | - | €40,205 | €33,604 | €38,784 | €25,228 | €13,086 | €6,001 | ▼ 54.1% |
| Financial debts170/4 | - | - | - | €33,604 | €38,784 | €25,228 | €13,086 | €6,001 | ▼ 54.1% |
| Amounts payable within one year42/48 | €36,750 | €30,697 | €23,201 | €24,882 | €45,923 | €30,861 | €34,933 | €35,835 | ▲ 2.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €6,055 | €12,670 | €12,991 | €11,567 | €6,499 | ▼ 43.8% |
| Financial debts43 | - | - | - | - | €5,374 | €210 | - | €6,054 | - |
| Credit institutions430/8 | - | - | - | - | €5,374 | €210 | - | €6,054 | - |
| Trade debts44 | €20,644 | €22,896 | €13,155 | €13,705 | €20,879 | €8,571 | €14,332 | €14,036 | ▼ 2.1% |
| Suppliers440/4 | - | - | - | €13,705 | €20,879 | €8,571 | €14,332 | €14,036 | ▼ 2.1% |
| Taxes, remuneration and social security45 | - | - | - | €4,560 | €6,935 | €8,364 | €6,279 | €7,186 | ▲ 14.4% |
| Taxes450/3 | - | - | - | €3,501 | €3,510 | €4,396 | €4,046 | €3,937 | ▼ 2.7% |
| Remuneration and social security454/9 | - | - | - | €1,059 | €3,425 | €3,968 | €2,233 | €3,249 | ▲ 45.5% |
| Other amounts payable47/48 | - | - | - | €562 | €65 | €725 | €2,755 | €2,060 | ▼ 25.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,739 | -€4,392 | €16,466 | -€21,810 | -€6,841 | €2,015 | €1,956 | -€8,565 | - |
| + Depreciation and write-downs630 | €9,882 | €10,388 | €10,357 | €12,660 | €10,848 | €13,992 | €13,686 | €14,048 | ▲ 2.6% |
| Operating cash flow (approximation) | €27,621 | €5,996 | €26,823 | -€9,150 | €4,007 | €16,007 | €15,642 | €5,483 | ▼ 64.9% |
| Investment in fixed assets (approximation) | - | -€4,395 | -€52,310 | -€7,233 | -€31,481 | -€2,067 | -€4,111 | -€1,074 | ▲ 73.9% |
| Change in cash | - | €11,776 | -€3,152 | -€4,296 | -€4,354 | €0 | €3,376 | - | - |
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 CRANINX 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.
That fits the bankruptcy probability of CRANINX itself: 1.3% 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 5,831 companies, not a prediction for CRANINX. 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 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 22-06-2026 | 2026-00190173 | |
| 31-12-2024 | micro format | 30-06-2025 | 2025-00211611 | |
| 31-12-2023 | micro format | 28-06-2024 | 2024-00189997 | |
| 31-12-2022 | micro format | 28-06-2023 | 2023-00176028 | |
| 31-12-2021 | micro format | 27-06-2022 | 2022-20143216 | |
| 31-12-2020 | micro format | 28-06-2021 | 2021-26400522 | |
| 31-12-2019 | micro format | 26-06-2020 | 2020-21800315 | |
| 31-12-2018 | micro format | 30-07-2019 | 2019-41000047 | |
| 31-12-2017 | micro format | 18-06-2018 | 2018-19800390 | |
| 31-12-2016 | micro format | 06-07-2017 | 2017-28400442 |