DAMNET
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 11-06-2026 PDF all 25 filings
Turnover
≈ €3.7m
Estimated: probably between €2.7m and €4.9m
EBIT margin
Not included in this filing
Net result
-€81,815▲ 76.5%
2024 · -€348,644
Working capital
€42,874▲ 201%
2024 · €14,266
In the rankings
#8 employer in Namur, Telecoms and IT sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€27,091
▲ 91.1%
2025
20182025
Net result
-€81,815
▲ 76.5%
2025
lowest quarter of the sector
20182025
Equity
€126,539
▲ 1.2%
2025
middle half of the sector
20182025
Total assets
€809,368
▼ 35.0%
2025
middle half of the sector
20182025
Debt
€682,829
▼ 33.6%
2025
20182025
Working capital
€42,874
▲ 201%
2025
middle half of the sector
20182025
Solvency
15.6%
▲ 5.6pp
2025
middle half of the sector
20182025
Current ratio
1.08
▲ 0.06
2025
middle half of the sector
20182025
Return on assets (ROA)
-10.1%
▲ 17.9pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
23.2
▼ 31.6%
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
Operating result€0.08m-€0.2m▲ 152%€0.1m▼ 35.5%€0.08m▼ 38.8%€0.05m▼ 31.0%-€0.06m-€0.3m▼ 379%-€0.03m▲ 91.1%
Net result€0.04m-€0.1m▲ 216%€0.05mwithin the sector's middle half▼ 53.4%€0.04mwithin the sector's middle half▼ 27.8%€0.01mwithin the sector's middle half▼ 66.2%-€0.08mbelow the sector's middle half-€0.3mbelow the sector's middle half▼ 327%-€0.08mbelow the sector's middle half▲ 76.5%
Equity€0.6m-€0.7m▲ 15.0%€0.7mwithin the sector's middle half▲ 5.6%€0.7mwithin the sector's middle half▲ 3.5%€0.7mwithin the sector's middle half▼ 6.3%€0.5mwithin the sector's middle half▼ 24.1%€0.1mwithin the sector's middle half▼ 76.3%€0.1mwithin the sector's middle half▲ 1.2%
Total assets€1.4m-€1.9m▲ 30.3%€1.7mwithin the sector's middle half▼ 10.6%€1.7mwithin the sector's middle half▼ 0.7%€1.5mwithin the sector's middle half▼ 7.1%€1.5mwithin the sector's middle half▼ 3.9%€1.2mwithin the sector's middle half▼ 16.0%€0.8mwithin the sector's middle half▼ 35.0%
Debt€0.8m-€1.2m▲ 40.9%€1.0m▼ 19.8%€0.9m▼ 3.8%€0.8m▼ 7.8%€1.0m▲ 12.6%€1.0m▲ 7.8%€0.7m▼ 33.6%
Working capital€0.3m-€0.5m▲ 84.4%€0.5mwithin the sector's middle half▼ 7.7%€0.5mwithin the sector's middle half▲ 17.1%€0.4mwithin the sector's middle half▼ 15.1%€0.2mwithin the sector's middle half▼ 56.8%€0.01mwithin the sector's middle half▼ 92.6%€0.04mwithin the sector's middle half▲ 201%
Solvency41.1%-36.3%▼ 4.8pp42.9%within the sector's middle half▲ 6.6pp44.7%within the sector's middle half▲ 1.8pp45.1%within the sector's middle half▲ 0.4pp35.6%within the sector's middle half▼ 9.5pp10.0%below the sector's middle half▼ 25.6pp15.6%within the sector's middle half▲ 5.6pp
Current ratio1.42-1.55▲ 0.121.58within the sector's middle half▲ 0.031.76within the sector's middle half▲ 0.191.64within the sector's middle half▼ 0.131.21within the sector's middle half▼ 0.421.01below the sector's middle half▼ 0.201.08within the sector's middle half▲ 0.06
Return on assets (ROA)2.5%-6.1%▲ 3.6pp3.2%within the sector's middle half▼ 2.9pp2.3%within the sector's middle half▼ 0.9pp0.8%within the sector's middle half▼ 1.5pp-5.5%below the sector's middle half▼ 6.3pp-28.0%below the sector's middle half▼ 22.5pp-10.1%below the sector's middle half▲ 17.9pp
Staff (FTE)30.2-28.1▼ 7.0%30.4within the sector's middle half▲ 8.2%32.8within the sector's middle half▲ 7.9%31.9within the sector's middle half▼ 2.7%33.2within the sector's middle half▲ 4.1%33.9within the sector's middle half▲ 2.1%23.2within the sector's middle half▼ 31.6%
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). 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 €27,091, smaller than the loss of €302,736 in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €809,368
Fixed assets
€211,981 ▼ 16.9%
Current assets
€597,387 ▼ 39.7%
Equity and liabilities €809,368
Equity
€126,539 ▲ 1.2%
Provisions
€0 ▼ 100%
Debt
€682,829 ▼ 33.6%
Debt's share of the balance-sheet total rises from 82.6% to 84.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€98,441▲
2024 · -€157,239
Cash flow
€43,717▲
2024 · -€203,147
Quick ratio
1.04▲
2024 · 0.98
Debt to equity
5.40▼
2024 · 8.23
ROE
-64.7%▲
2024 · -278.9%
Interest coverage
1.82▲
2024 · -3.43
Debt ≤ 1 year
€554,512▼
2024 · €976,145
Debt > 1 year
€125,454▲
2024 · €40,654
Income taxes
€6,242
Staff costs
€1.6m▼
2024 · €2.3m
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 | 36 | 27 | 36 | 32 | 24 |
| full-time | 27 | 19 | 29 | 26 | 18 |
| part-time | 9 | 8 | 7 | 6 | 6 |
| in full-time equivalents | 34.5 | 25.6 | 34.7 | 30.9 | 23 |
| Average over the year, in full-time equivalents | 32.8 | 31.9 | 33.2 | 33.9 | 23.2 |
| On a permanent contract | 36 | 27 | 35 | 32 | 24 |
| Joined | 8 | - | 13 | 5 | 8 |
| Left | 6 | - | 4 | 9 | 16 |
| Training hours | 920 | - | 1,369 | 1,452 | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €204,598 | €161,068 | €169,448 | €21,115 | €78,879 |
| Intangible fixed assets | €1,662 | €368 | - | €41,873 | €3,554 |
| Depreciation and write-downs of the year | €203,026 | €211,768 | €173,606 | €145,497 | €125,531 |
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 | - | - | - | €0.003m | - | - | - | €0.06m | - |
| Remuneration, social security and pensions62 | - | - | - | €1.7m | €1.7m | €2.0m | €2.3m | €1.6m | ▼ 27.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | €0.1m | ▼ 13.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.007m | - | - | - | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | - | - | €0.08m | -€0.07m | - |
| Other operating charges640/8 | - | - | - | €0.01m | €0.02m | €0.007m | €0.009m | €0.008m | ▼ 14.2% |
| Non-recurring operating charges66A | - | - | - | - | - | €0.005m | €0.003m | €0.009m | ▲ 231% |
| Gross operating margin9900 | €1.8m | €1.9m | €2.0m | €2.0m | €2.0m | €2.1m | €2.2m | €1.7m | ▼ 23.1% |
| Operating profit (loss)9901 | €0.08m | €0.2m | €0.1m | €0.08m | €0.05m | -€0.06m | -€0.3m | -€0.03m | ▲ 91.1% |
| Financial income75/76B | - | - | - | €83 | €387 | €469 | €0 | €0.006m | ▲ 31,223× |
| Recurring financial income75 | €19 | €12 | €0.001m | €83 | €387 | €469 | €0 | €0.006m | ▲ 31,223× |
| Financial charges65/66B | - | - | - | €0.004m | €0.006m | €0.02m | €0.05m | €0.05m | ▲ 17.8% |
| Recurring financial charges65 | €0.005m | €0.006m | €0.005m | €0.004m | €0.006m | €0.02m | €0.05m | €0.05m | ▲ 17.8% |
| Profit (loss) for the period before taxes9903 | €0.07m | €0.2m | €0.1m | €0.07m | €0.05m | -€0.08m | -€0.3m | -€0.08m | ▲ 78.3% |
| Income taxes67/77 | €0.04m | €0.08m | €0.07m | €0.04m | €0.04m | €0.002m | - | €0.006m | - |
| Profit (loss) for the period9904 | €0.04m | €0.1m | €0.05m | €0.04m | €0.01m | -€0.08m | -€0.3m | -€0.08m | ▲ 76.5% |
| Profit (loss) for the period to be appropriated9905 | €0.04m | €0.1m | €0.05m | €0.04m | €0.01m | -€0.08m | -€0.3m | -€0.08m | ▲ 76.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.4m | €1.9m | €1.7m | €1.7m | €1.5m | €1.5m | €1.2m | €0.8m | ▼ 35.0% |
| Fixed assets21/28 | €0.5m | €0.5m | €0.4m | €0.4m | €0.4m | €0.4m | €0.3m | €0.2m | ▼ 16.9% |
| Intangible fixed assets21 | €0.02m | €0.05m | €0.04m | €0.03m | €0.02m | €0.006m | €0.04m | €0.04m | ▼ 12.4% |
| Tangible fixed assets22/27 | €0.5m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.2m | €0.2m | ▼ 17.8% |
| Furniture and vehicles24 | - | - | - | €0.4m | €0.4m | €0.4m | €0.2m | €0.2m | ▼ 15.2% |
| Other tangible fixed assets26 | - | - | - | €0.03m | €0.02m | €0.02m | €0.01m | €0.007m | ▼ 51.6% |
| Financial fixed assets28 | €0.003m | €395 | €395 | €145 | €145 | €145 | €145 | €145 | = |
| Current assets29/58 | €0.9m | €1.4m | €1.2m | €1.2m | €1.2m | €1.1m | €1.0m | €0.6m | ▼ 39.7% |
| Stocks and contracts in progress3 | €0.08m | €0.2m | €0.04m | €0.1m | €0.2m | €0.05m | €0.04m | €0.02m | ▼ 45.9% |
| Stocks30/36 | - | - | - | €0.1m | €0.2m | €0.05m | €0.04m | €0.02m | ▼ 45.9% |
| Amounts receivable within one year40/41 | €0.5m | €0.6m | €0.4m | €0.5m | €0.5m | €0.6m | €0.6m | €0.4m | ▼ 26.4% |
| Trade receivables40 | - | - | - | €0.5m | €0.5m | €0.5m | €0.5m | €0.4m | ▼ 29.7% |
| Other amounts receivable41 | - | - | - | €0.03m | €0.02m | €0.08m | €0.07m | €0.06m | ▼ 1.0% |
| Cash at bank and in hand54/58 | €0.3m | €0.5m | €0.7m | €0.5m | €0.5m | €0.4m | €0.4m | €0.1m | ▼ 71.2% |
| Deferred charges and accrued income490/1 | - | - | - | €0.03m | €0.01m | €0.02m | €0.02m | €0.05m | ▲ 128% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.4m | €1.9m | €1.7m | €1.7m | €1.5m | €1.5m | €1.2m | €0.8m | ▼ 35.0% |
| Equity10/15 | €0.6m | €0.7m | €0.7m | €0.7m | €0.7m | €0.5m | €0.1m | €0.1m | ▲ 1.2% |
| Contributions10/11 | €0.1m | €0.1m | - | €0.3m | €0.3m | €0.2m | €0.2m | €0.3m | ▲ 48.8% |
| Reserves13 | €0.09m | €0.1m | €0.2m | €0.2m | €0.2m | €0.09m | €0.09m | - | - |
| Non-distributable reserves130/1 | - | - | - | €0.2m | €0.2m | €0.09m | €0.09m | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.2m | €0.2m | €0.09m | €0.09m | - | - |
| Profit (loss) carried forward14 | €0.2m | €0.3m | €0.3m | €0.3m | €0.3m | €0.2m | -€0.2m | -€0.1m | ▲ 3.6% |
| Investment grants15 | - | - | - | - | - | €0.007m | €0.007m | €0.002m | ▼ 68.5% |
| Provisions and deferred taxes16 | - | - | - | - | - | - | €0.09m | - | - |
| Provisions for liabilities and charges160/5 | - | - | - | - | - | - | €0.09m | - | - |
| Other liabilities and charges164/5 | - | - | - | - | - | - | €0.09m | - | - |
| Amounts payable17/49 | €0.8m | €1.2m | €1.0m | €0.9m | €0.8m | €1.0m | €1.0m | €0.7m | ▼ 33.6% |
| Amounts payable after more than one year17 | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | €0.05m | €0.04m | €0.1m | ▲ 209% |
| Financial debts170/4 | - | - | - | €0.2m | €0.1m | €0.05m | €0.04m | €0.1m | ▲ 209% |
| Amounts payable within one year42/48 | €0.6m | €0.9m | €0.8m | €0.7m | €0.7m | €0.9m | €1.0m | €0.6m | ▼ 43.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.1m | €0.1m | €0.08m | €0.05m | €0.02m | ▼ 70.7% |
| Financial debts43 | - | - | - | - | - | €0.1m | €0.1m | €0.1m | ▼ 14.1% |
| Credit institutions430/8 | - | - | - | - | - | €0.1m | €0.1m | €0.1m | ▼ 14.1% |
| Trade debts44 | €0.2m | €0.4m | €0.2m | €0.2m | €0.3m | €0.3m | €0.4m | €0.2m | ▼ 40.3% |
| Suppliers440/4 | - | - | - | €0.2m | €0.3m | €0.3m | €0.4m | €0.2m | ▼ 40.3% |
| Taxes, remuneration and social security45 | - | - | - | €0.3m | €0.3m | €0.4m | €0.4m | €0.2m | ▼ 52.7% |
| Taxes450/3 | - | - | - | €0.09m | €0.08m | €0.07m | €0.04m | €0.03m | ▼ 22.3% |
| Remuneration and social security454/9 | - | - | - | €0.3m | €0.2m | €0.4m | €0.3m | €0.1m | ▼ 56.6% |
| Other amounts payable47/48 | - | - | - | €0.02m | - | - | €0.05m | €0.03m | ▼ 37.9% |
| Accrued charges and deferred income492/3 | - | - | - | €0.06m | €0.01m | - | €0.01m | €0.003m | ▼ 75.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €35,875 | €113,534 | €52,888 | €38,206 | €12,923 | -€81,644 | -€348,644 | -€81,815 | ▲ 76.5% |
| + Depreciation and write-downs630 | €204,792 | €225,759 | €217,079 | €203,026 | €211,768 | €173,606 | €145,497 | €125,531 | ▼ 13.7% |
| Operating cash flow (approximation) | €240,668 | €339,293 | €269,967 | €241,231 | €224,691 | €91,963 | -€203,147 | €43,717 | - |
| Investment in fixed assets (approximation) | - | -€166,848 | -€169,777 | -€206,010 | -€159,652 | -€168,902 | -€15,244 | -€82,433 | ▼ 441% |
| Change in cash | - | €139,171 | €216,254 | -€171,245 | -€32,637 | -€63,717 | -€66,630 | -€252,752 | ▼ 279% |
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, 307 companies had the same profile as DAMNET has now. Two years later, 88.9% were still going and 4.9% had gone bankrupt.
- Small
- 20 years or older
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
88.9%
was still going
5.2%
stopped otherwise
4.9%
went bankrupt
Another 1.0% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DAMNET itself: 1.5% 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 307 companies, not a prediction for DAMNET. 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 | full format | 11-06-2026 | 2026-00157789 | |
| 31-12-2024 | full format | 02-09-2025 | 2025-00471751 | |
| 31-12-2023 | full format | 12-09-2024 | 2024-00459828 | |
| 31-12-2022 | full format | 30-08-2023 | 2023-00381163 | |
| 31-12-2021 | full format | 19-08-2022 | 2022-20308607 | |
| 31-12-2020 | full format | 16-08-2021 | 2021-49100244 | |
| 31-12-2019 | full format | 11-09-2020 | 2020-52800004 | |
| 31-12-2018 | full format | 29-08-2019 | 2019-58800218 | |
| 31-12-2017 | full format | 27-07-2018 | 2018-39600055 | |
| 31-12-2016 | full format | 25-08-2017 | 2017-48400028 |