CREATED SOFTWARE SOLUTIONS
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-04-2026 PDF all 18 filings
Turnover
≈ €220,000
Estimated: probably between €120,000 and €420,000
Total assets
€204,781▲ 31.5%
2024 · €155,743
Net result
€19,258▲ 101%
2024 · €9,583
Working capital
€93,489▲ 9.0%
2024 · €85,800
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€27,436
▲ 60.1%
2025
20192025
Net result
€19,258
▲ 101%
2025
middle half of the sector
20192025
Equity
€102,301
▲ 16.2%
2025
middle half of the sector
20192025
Total assets
€204,781
▲ 31.5%
2025
middle half of the sector
20192025
Debt
€102,480
▲ 51.4%
2025
20192025
Working capital
€93,489
▲ 9.0%
2025
middle half of the sector
20192025
Solvency
50.0%
▼ 6.6pp
2025
middle half of the sector
20192025
Current ratio
2.33
▼ 0.04
2025
middle half of the sector
20192025
Return on assets (ROA)
9.4%
▲ 3.3pp
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€3,889-€1,731▼ 55.5%€18,205▲ 952%€2,970▼ 83.7%€3,328▲ 12.1%€17,136▲ 415%€27,436▲ 60.1%
Net result€2,351-€496within the sector's middle half▼ 78.9%€7,827within the sector's middle half▲ 16×€171within the sector's middle half▼ 97.8%€16within the sector's middle half▼ 90.8%€9,583within the sector's middle half▲ 608×€19,258within the sector's middle half▲ 101%
Equity€69,951-€70,447within the sector's middle half▲ 0.7%€78,274within the sector's middle half▲ 11.1%€78,445within the sector's middle half▲ 0.2%€78,460within the sector's middle half=€88,043within the sector's middle half▲ 12.2%€102,301within the sector's middle half▲ 16.2%
Total assets€133,666-€133,120within the sector's middle half▼ 0.4%€146,695within the sector's middle half▲ 10.2%€143,349within the sector's middle half▼ 2.3%€144,266within the sector's middle half▲ 0.6%€155,743within the sector's middle half▲ 8.0%€204,781within the sector's middle half▲ 31.5%
Debt€63,715-€62,673▼ 1.6%€68,421▲ 9.2%€64,904▼ 5.1%€65,805▲ 1.4%€67,700▲ 2.9%€102,480▲ 51.4%
Working capital€61,406-€62,626within the sector's middle half▲ 2.0%€72,701within the sector's middle half▲ 16.1%€67,266within the sector's middle half▼ 7.5%€71,524within the sector's middle half▲ 6.3%€85,800within the sector's middle half▲ 20.0%€93,489within the sector's middle half▲ 9.0%
Solvency52.3%-52.9%within the sector's middle half▲ 0.6pp53.4%within the sector's middle half▲ 0.4pp54.7%within the sector's middle half▲ 1.4pp54.4%within the sector's middle half▼ 0.3pp56.5%within the sector's middle half▲ 2.1pp50.0%within the sector's middle half▼ 6.6pp
Current ratio1.98-2.02within the sector's middle half▲ 0.042.11within the sector's middle half▲ 0.092.08within the sector's middle half▼ 0.032.15within the sector's middle half▲ 0.072.37within the sector's middle half▲ 0.222.33within the sector's middle half▼ 0.04
Return on assets (ROA)1.8%-0.4%within the sector's middle half▼ 1.4pp5.3%within the sector's middle half▲ 5.0pp0.1%within the sector's middle half▼ 5.2pp0.0%within the sector's middle half▼ 0.1pp6.2%within the sector's middle half▲ 6.1pp9.4%within the sector's middle half▲ 3.3pp
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 60% higher than in 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
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 €204,781
Fixed assets
€41,061 ▲ 471%
Current assets
€163,720 ▲ 10.2%
Equity and liabilities €204,781
Equity
€102,301 ▲ 16.2%
Debt
€102,480 ▲ 51.4%
Debt's share of the balance-sheet total rises from 43.5% to 50.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€33,053▲
2024 · €20,449
Cash flow
€24,874▲
2024 · €12,897
Debt to equity
1.00▲
2024 · 0.77
ROE
18.8%▲
2024 · 10.9%
Interest coverage
6.61▲
2024 · 4.42
Debt ≤ 1 year
€70,232▲
2024 · €62,749
Debt > 1 year
€27,383
Income taxes
€5,628▲
2024 · €4,410
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,733 | €8,602 | €1,031 | - | €44,168 |
| Depreciation and write-downs of the year | €2,388 | €3,038 | €4,396 | €3,314 | €5,616 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €352 awarded · €329 paidAnnual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €4,565 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,244 | €1,791 | €2,388 | €3,038 | €4,396 | €3,314 | €5,616 | ▲ 69.5% |
| Other operating charges640/8 | - | - | €950 | €955 | €1,005 | €1,116 | €810 | ▼ 27.4% |
| Gross operating margin9900 | €6,883 | €4,464 | €21,543 | €6,962 | €8,729 | €21,565 | €33,863 | ▲ 57.0% |
| Operating profit (loss)9901 | €3,889 | €1,731 | €18,205 | €2,970 | €3,328 | €17,136 | €27,436 | ▲ 60.1% |
| Financial income75/76B | - | - | €1,147 | €930 | €711 | €1,484 | €2,451 | ▲ 65.2% |
| Recurring financial income75 | €1,590 | €1,382 | €1,147 | €930 | €711 | €1,484 | €2,451 | ▲ 65.2% |
| Financial charges65/66B | - | - | €7,743 | €2,712 | €3,257 | €4,627 | €5,002 | ▲ 8.1% |
| Recurring financial charges65 | €1,998 | €1,830 | €7,743 | €2,712 | €3,257 | €4,627 | €5,002 | ▲ 8.1% |
| Profit (loss) for the period before taxes9903 | €3,480 | €1,283 | €11,609 | €1,188 | €783 | €13,993 | €24,885 | ▲ 77.8% |
| Income taxes67/77 | €1,129 | €787 | €3,782 | €1,017 | €767 | €4,410 | €5,628 | ▲ 27.6% |
| Profit (loss) for the period9904 | €2,351 | €496 | €7,827 | €171 | €16 | €9,583 | €19,258 | ▲ 101% |
| Profit (loss) for the period to be appropriated9905 | €2,351 | €496 | €7,827 | €171 | €16 | €9,583 | €19,258 | ▲ 101% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €133,666 | €133,120 | €146,695 | €143,349 | €144,266 | €155,743 | €204,781 | ▲ 31.5% |
| Fixed assets21/28 | €9,754 | €8,964 | €8,309 | €13,874 | €10,508 | €7,194 | €41,061 | ▲ 471% |
| Intangible fixed assets21 | €7,000 | €6,000 | €5,000 | €4,000 | €3,000 | €2,000 | €1,000 | ▼ 50.0% |
| Tangible fixed assets22/27 | €2,754 | €2,964 | €3,309 | €9,874 | €7,508 | €5,194 | €40,061 | ▲ 671% |
| Plant, machinery and equipment23 | - | - | €2,008 | €1,097 | €1,102 | €509 | €2,043 | ▲ 301% |
| Furniture and vehicles24 | - | - | €1,301 | €8,777 | €6,406 | €4,685 | €38,018 | ▲ 711% |
| Current assets29/58 | €123,912 | €124,156 | €138,386 | €129,475 | €133,758 | €148,549 | €163,720 | ▲ 10.2% |
| Amounts receivable after more than one year29 | - | - | €35,000 | €26,250 | €17,500 | €48,750 | €40,250 | ▼ 17.4% |
| Other amounts receivable291 | - | - | €35,000 | €26,250 | €17,500 | €48,750 | €40,250 | ▼ 17.4% |
| Stocks and contracts in progress3 | - | €4,150 | - | €6,500 | €12,148 | - | - | - |
| Contracts in progress37 | - | - | - | €6,500 | €12,148 | - | - | - |
| Amounts receivable within one year40/41 | €23,328 | €30,244 | €30,072 | €17,544 | €21,884 | €39,015 | €34,019 | ▼ 12.8% |
| Trade receivables40 | - | - | €21,322 | €8,794 | €12,901 | €30,265 | €25,519 | ▼ 15.7% |
| Other amounts receivable41 | - | - | €8,750 | €8,750 | €8,983 | €8,750 | €8,500 | ▼ 2.9% |
| Current investments50/53 | - | - | - | - | - | - | €50,000 | - |
| Cash at bank and in hand54/58 | €45,588 | €43,442 | €70,887 | €77,352 | €80,375 | €58,508 | €36,208 | ▼ 38.1% |
| Deferred charges and accrued income490/1 | - | - | €2,427 | €1,828 | €1,852 | €2,277 | €3,244 | ▲ 42.5% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €133,666 | €133,120 | €146,695 | €143,349 | €144,266 | €155,743 | €204,781 | ▲ 31.5% |
| Equity10/15 | €69,951 | €70,447 | €78,274 | €78,445 | €78,460 | €88,043 | €102,301 | ▲ 16.2% |
| Contributions10/11 | €64,860 | - | €64,860 | €64,860 | €64,860 | €64,860 | €64,860 | = |
| Reserves13 | €7,090 | €7,090 | €13,414 | €13,585 | €13,585 | €23,168 | €37,425 | ▲ 61.5% |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | - | €1,860 | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | €11,554 | €11,725 | €11,725 | €23,168 | €37,425 | ▲ 61.5% |
| Profit (loss) carried forward14 | -€1,999 | -€1,503 | €0 | - | €16 | €16 | €16 | = |
| Amounts payable17/49 | €63,715 | €62,673 | €68,421 | €64,904 | €65,805 | €67,700 | €102,480 | ▲ 51.4% |
| Amounts payable after more than one year17 | - | - | - | - | - | - | €27,383 | - |
| Financial debts170/4 | - | - | - | - | - | - | €27,383 | - |
| Amounts payable within one year42/48 | €62,506 | €61,530 | €65,685 | €62,209 | €62,234 | €62,749 | €70,232 | ▲ 11.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | €7,035 | - |
| Trade debts44 | €507 | €3,180 | €639 | €96 | €540 | €108 | €778 | ▲ 624% |
| Suppliers440/4 | - | - | €639 | €96 | €540 | €108 | €778 | ▲ 624% |
| Taxes, remuneration and social security45 | - | - | €7,811 | €3,285 | €1,227 | €2,410 | €3,602 | ▲ 49.4% |
| Taxes450/3 | - | - | €6,331 | €1,806 | €1,227 | €2,410 | €3,602 | ▲ 49.4% |
| Remuneration and social security454/9 | - | - | €1,479 | €1,479 | - | - | - | - |
| Other amounts payable47/48 | - | - | €57,236 | €58,829 | €60,467 | €60,231 | €58,816 | ▼ 2.3% |
| Accrued charges and deferred income492/3 | - | - | €2,736 | €2,695 | €3,571 | €4,951 | €4,866 | ▼ 1.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,351 | €496 | €7,827 | €171 | €16 | €9,583 | €19,258 | ▲ 101% |
| + Depreciation and write-downs630 | €2,244 | €1,791 | €2,388 | €3,038 | €4,396 | €3,314 | €5,616 | ▲ 69.5% |
| Operating cash flow (approximation) | €4,595 | €2,286 | €10,216 | €3,208 | €4,412 | €12,897 | €24,874 | ▲ 92.9% |
| Investment in fixed assets (approximation) | - | -€1,000 | -€1,733 | -€8,602 | -€1,031 | €0 | -€39,483 | - |
| Change in cash | - | -€2,146 | €27,445 | €6,466 | €3,022 | -€21,867 | -€22,300 | ▼ 2.0% |
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, 34,693 companies had the same profile as CREATED SOFTWARE SOLUTIONS has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of CREATED SOFTWARE SOLUTIONS 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 34,693 companies, not a prediction for CREATED SOFTWARE SOLUTIONS. 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 18 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 30-04-2026 | 2026-00099270 | |
| 30-09-2024 | micro format | 24-05-2025 | 2025-00106933 | |
| 30-09-2023 | micro format | 24-05-2024 | 2024-00099633 | |
| 30-09-2022 | micro format | 30-05-2023 | 2023-00099544 | |
| 30-09-2021 | micro format | 31-05-2022 | 2022-20039548 | |
| 30-09-2020 | micro format | 28-05-2021 | 2021-15700490 | |
| 30-09-2019 | micro format | 27-05-2020 | 2020-13100002 | |
| 30-09-2018 | micro format | 03-06-2019 | 2019-15200459 | |
| 30-09-2017 | micro format | 30-05-2018 | 2018-14800130 | |
| 30-09-2016 | abbreviated format | 10-05-2017 | 2017-11600462 |