Darnoc
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 07-04-2026 PDF all 12 filings
Equity
€13,022▼ 63.9%
2024 · €36,038
Total assets
€14,893▼ 63.7%
2024 · €41,004
Net result
-€23,017▼ 1,476%
2024 · -€1,461
Working capital
€13,022▼ 63.9%
2024 · €36,038
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€22,951
▼ 3,203%
2025
20192025
Net result
-€23,017
▼ 1,476%
2025
lowest quarter of the sector
20192025
Equity
€13,022
▼ 63.9%
2025
middle half of the sector
20192025
Total assets
€14,893
▼ 63.7%
2025
lowest quarter of the sector
20192025
Debt
€1,872
▼ 62.3%
2025
20192025
Working capital
€13,022
▼ 63.9%
2025
middle half of the sector
20192025
Solvency
87.4%
▼ 0.5pp
2025
highest quarter of the sector
20192025
Current ratio
7.96
▼ 0.30
2025
highest quarter of the sector
20192025
Return on assets (ROA)
-154.5%
▼ 151.0pp
2025
lowest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€3,282-€21,961€1,377▼ 93.7%-€10,130€31,876-€695-€22,951▼ 3,203%
Net result-€3,307-€17,928within the sector's middle half€406within the sector's middle half▼ 97.7%-€10,203below the sector's middle half€25,639within the sector's middle half-€1,461within the sector's middle half-€23,017below the sector's middle half▼ 1,476%
Equity€3,730-€21,658within the sector's middle half▲ 481%€22,064within the sector's middle half▲ 1.9%€11,861within the sector's middle half▼ 46.2%€37,499within the sector's middle half▲ 216%€36,038within the sector's middle half▼ 3.9%€13,022within the sector's middle half▼ 63.9%
Total assets€3,993-€33,176below the sector's middle half▲ 731%€30,775below the sector's middle half▼ 7.2%€20,102below the sector's middle half▼ 34.7%€55,929below the sector's middle half▲ 178%€41,004below the sector's middle half▼ 26.7%€14,893below the sector's middle half▼ 63.7%
Debt€263-€11,518▲ 44×€8,711▼ 24.4%€8,242▼ 5.4%€18,430▲ 124%€4,966▼ 73.1%€1,872▼ 62.3%
Working capital€3,730-€21,658within the sector's middle half▲ 481%€22,064within the sector's middle half▲ 1.9%€11,861within the sector's middle half▼ 46.2%€37,499within the sector's middle half▲ 216%€36,038within the sector's middle half▼ 3.9%€13,022within the sector's middle half▼ 63.9%
Solvency65.3%above the sector's middle half71.7%above the sector's middle half▲ 6.4pp59.0%within the sector's middle half▼ 12.7pp67.0%within the sector's middle half▲ 8.0pp87.9%above the sector's middle half▲ 20.8pp87.4%above the sector's middle half▼ 0.5pp
Current ratio2.88within the sector's middle half3.53above the sector's middle half▲ 0.652.44within the sector's middle half▼ 1.093.03within the sector's middle half▲ 0.608.26above the sector's middle half▲ 5.227.96above the sector's middle half▼ 0.30
Return on assets (ROA)54.0%above the sector's middle half1.3%within the sector's middle half▼ 52.7pp-50.8%below the sector's middle half▼ 52.1pp45.8%above the sector's middle half▲ 96.6pp-3.6%within the sector's middle half▼ 49.4pp-154.5%below the sector's middle half▼ 151.0pp
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 a loss of €22,951, larger than the loss of €695 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €14,893
Equity
€13,022 ▼ 63.9%
Debt
€1,872 ▼ 62.3%
Debt's share of the balance-sheet total rises from 12.1% to 12.6%. Equity and debt are lower.
Key figures and ratios
Debt to equity
0.14▲
2024 · 0.14
ROE
-176.8%▼
2024 · -4.1%
Debt ≤ 1 year
€1,872▼
2024 · €4,966
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | €348 | €348 | €348 | €387 | €403 | ▲ 4.0% |
| Gross operating margin9900 | -€2,935 | €23,815 | €1,725 | -€9,782 | €32,224 | -€308 | -€22,548 | ▼ 7,231% |
| Operating profit (loss)9901 | -€3,282 | €21,961 | €1,377 | -€10,130 | €31,876 | -€695 | -€22,951 | ▼ 3,203% |
| Financial income75/76B | - | - | - | €3 | - | €119 | - | - |
| Recurring financial income75 | - | €1 | - | €3 | - | €119 | - | - |
| Financial charges65/66B | - | - | €32 | €76 | €47 | €163 | €66 | ▼ 59.4% |
| Recurring financial charges65 | €25 | €410 | €32 | €76 | €47 | €163 | €66 | ▼ 59.4% |
| Profit (loss) for the period before taxes9903 | -€3,307 | €21,552 | €1,346 | -€10,203 | €31,829 | -€738 | -€23,017 | ▼ 3,017% |
| Income taxes67/77 | - | €3,624 | €940 | - | €6,191 | €722 | - | - |
| Profit (loss) for the period9904 | -€3,307 | €17,928 | €406 | -€10,203 | €25,639 | -€1,461 | -€23,017 | ▼ 1,476% |
| Profit (loss) for the period to be appropriated9905 | -€3,307 | €17,928 | €406 | -€10,203 | €25,639 | -€1,461 | -€23,017 | ▼ 1,476% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €3,993 | €33,176 | €30,775 | €20,102 | €55,929 | €41,004 | €14,893 | ▼ 63.7% |
| Current assets29/58 | €3,993 | €33,176 | €30,775 | €20,102 | €55,929 | €41,004 | €14,893 | ▼ 63.7% |
| Amounts receivable within one year40/41 | €1,775 | €10,606 | €16,422 | €10,735 | €24,805 | €16,644 | €13,616 | ▼ 18.2% |
| Trade receivables40 | - | - | €16,422 | €10,285 | €24,805 | €12,705 | €12,740 | ▲ 0.3% |
| Other amounts receivable41 | - | - | - | €450 | - | €3,939 | €875 | ▼ 77.8% |
| Cash at bank and in hand54/58 | €2,218 | €22,014 | €13,785 | €9,367 | €30,217 | €23,292 | €1,277 | ▼ 94.5% |
| Deferred charges and accrued income490/1 | - | - | €567 | - | €907 | €1,069 | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €3,993 | €33,176 | €30,775 | €20,102 | €55,929 | €41,004 | €14,893 | ▼ 63.7% |
| Equity10/15 | €3,730 | €21,658 | €22,064 | €11,861 | €37,499 | €36,038 | €13,022 | ▼ 63.9% |
| Contributions10/11 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €837 | €15,458 | €15,864 | €5,661 | €31,299 | €29,838 | €6,822 | ▼ 77.1% |
| Non-distributable reserves130/1 | - | - | €837 | €837 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €837 | €837 | - | - | - | - |
| Distributable reserves133 | - | - | €15,027 | €4,823 | €31,299 | €29,838 | €6,822 | ▼ 77.1% |
| Profit (loss) carried forward14 | -€3,307 | - | - | - | - | - | - | - |
| Amounts payable17/49 | €263 | €11,518 | €8,711 | €8,242 | €18,430 | €4,966 | €1,872 | ▼ 62.3% |
| Amounts payable within one year42/48 | €263 | €11,518 | €8,711 | €8,242 | €18,430 | €4,966 | €1,872 | ▼ 62.3% |
| Trade debts44 | €263 | €582 | €1,122 | €1,616 | €1,959 | €1,394 | - | - |
| Suppliers440/4 | - | - | €1,122 | €1,616 | €1,959 | €1,394 | - | - |
| Taxes, remuneration and social security45 | - | - | €7,458 | €6,529 | €16,471 | €3,572 | - | - |
| Taxes450/3 | - | - | €5,049 | €4,129 | €14,485 | €3,572 | - | - |
| Remuneration and social security454/9 | - | - | €2,409 | €2,400 | €1,986 | - | - | - |
| Other amounts payable47/48 | - | - | €131 | €96 | - | - | €1,872 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,307 | €17,928 | €406 | -€10,203 | €25,639 | -€1,461 | -€23,017 | ▼ 1,476% |
| Operating cash flow (approximation) | -€3,307 | €17,928 | €406 | -€10,203 | €25,639 | -€1,461 | -€23,017 | ▼ 1,476% |
| Change in cash | - | €19,796 | -€8,229 | -€4,418 | €20,850 | -€6,925 | -€22,015 | ▼ 218% |
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, 4,805 companies had the same profile as Darnoc has now. Two years later, 88.1% were still going and 2.0% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
88.1%
was still going
9.8%
stopped otherwise
2.0%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Darnoc itself is lower: 0.4% within 12 months. It rests on far more data about Darnoc than the profile alone.
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 4,805 companies, not a prediction for Darnoc. 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 12 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 07-04-2026 | 2026-00075393 | |
| 30-09-2024 | micro format | 29-04-2025 | 2025-00088888 | |
| 30-09-2023 | micro format | 08-04-2024 | 2024-00061160 | |
| 30-09-2022 | micro format | 24-03-2023 | 2023-00048516 | |
| 30-09-2021 | micro format | 14-04-2022 | 2022-20003955 | |
| 30-09-2020 | micro format | 26-04-2021 | 2021-12000184 | |
| 30-09-2019 | micro format | 21-04-2020 | 2020-09400545 | |
| 30-09-2018 | micro format | 30-04-2019 | 2019-11200372 | |
| 30-09-2017 | micro format | 15-03-2018 | 2018-06900005 | |
| 30-09-2016 | abbreviated format | 12-04-2017 | 2017-09300330 |