DECIBEL
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 27-01-2026 PDF all 23 filings
Turnover
≈ €130,000
Estimated: probably between €82,000 and €250,000
Total assets
€52,568▲ 8.9%
2024 · €48,289
Net result
€3,604
2024 · -€7,781
Working capital
€16,626▲ 5.5%
2024 · €15,761
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€3,571
2025
20192025
Net result
€3,604
2025
middle half of the sector
20192025
Equity
€35,792
▲ 11.2%
2025
middle half of the sector
20192025
Total assets
€52,568
▲ 8.9%
2025
middle half of the sector
20192025
Debt
€16,775
▲ 4.2%
2025
20192025
Working capital
€16,626
▲ 5.5%
2025
middle half of the sector
20192025
Solvency
68.1%
▲ 1.4pp
2025
highest quarter of the sector
20192025
Current ratio
1.99
▲ 0.01
2025
middle half of the sector
20192025
Return on assets (ROA)
6.9%
▲ 23.0pp
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€506-€5,600▲ 11×-€3,319€10,264€190▼ 98.1%-€7,728€3,571
Net result€1,048-€5,536within the sector's middle half▲ 428%-€4,548below the sector's middle half€9,256within the sector's middle half€72within the sector's middle half▼ 99.2%-€7,781below the sector's middle half€3,604within the sector's middle half
Equity€29,652-€35,188within the sector's middle half▲ 18.7%€30,641within the sector's middle half▼ 12.9%€39,897within the sector's middle half▲ 30.2%€39,968within the sector's middle half▲ 0.2%€32,188within the sector's middle half▼ 19.5%€35,792within the sector's middle half▲ 11.2%
Total assets€47,215-€51,539within the sector's middle half▲ 9.2%€47,395within the sector's middle half▼ 8.0%€59,407within the sector's middle half▲ 25.3%€55,829within the sector's middle half▼ 6.0%€48,289within the sector's middle half▼ 13.5%€52,568within the sector's middle half▲ 8.9%
Debt€17,563-€16,351▼ 6.9%€16,754▲ 2.5%€19,511▲ 16.5%€15,861▼ 18.7%€16,101▲ 1.5%€16,775▲ 4.2%
Working capital€18,922-€7,276within the sector's middle half▼ 61.5%€6,119within the sector's middle half▼ 15.9%€18,805within the sector's middle half▲ 207%€17,053within the sector's middle half▼ 9.3%€15,761within the sector's middle half▼ 7.6%€16,626within the sector's middle half▲ 5.5%
Solvency62.8%-68.3%above the sector's middle half▲ 5.5pp64.6%above the sector's middle half▼ 3.6pp67.2%above the sector's middle half▲ 2.5pp71.6%above the sector's middle half▲ 4.4pp66.7%above the sector's middle half▼ 4.9pp68.1%above the sector's middle half▲ 1.4pp
Current ratio2.30-1.45within the sector's middle half▼ 0.851.37within the sector's middle half▼ 0.081.96within the sector's middle half▲ 0.602.08within the sector's middle half▲ 0.111.98within the sector's middle half▼ 0.101.99within the sector's middle half▲ 0.01
Return on assets (ROA)2.2%-10.7%within the sector's middle half▲ 8.5pp-9.6%below the sector's middle half▼ 20.3pp15.6%above the sector's middle half▲ 25.2pp0.1%within the sector's middle half▼ 15.5pp-16.1%below the sector's middle half▼ 16.2pp6.9%within the sector's middle half▲ 23.0pp
above
within
below
The sector band is the middle half of the companies in Food and beverage service activities (NACE 56). 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 profit of €3,571, after a loss of €7,728 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 €52,568
Fixed assets
€19,166 ▲ 16.7%
Current assets
€33,402 ▲ 4.8%
Equity and liabilities €52,568
Equity
€35,792 ▲ 11.2%
Debt
€16,775 ▲ 4.2%
Debt's share of the balance-sheet total falls from 33.3% to 31.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€9,508▲
2024 · -€494
Cash flow
€9,541▲
2024 · -€547
Debt to equity
0.47▼
2024 · 0.50
ROE
10.1%▲
2024 · -24.2%
Interest coverage
71.37▲
2024 · -2.77
Debt ≤ 1 year
€16,775▲
2024 · €16,101
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €2,159 | €8,260 | €745 | €8,675 |
| Depreciation and write-downs of the year | €5,588 | €6,436 | €7,234 | €5,937 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,735 | €5,361 | €4,912 | €5,588 | €6,436 | €7,234 | €5,937 | ▼ 17.9% |
| Other operating charges640/8 | - | - | - | €807 | €879 | €889 | €921 | ▲ 3.6% |
| Gross operating margin9900 | €4,231 | €11,668 | €2,846 | €16,659 | €7,506 | €395 | €10,429 | ▲ 26× |
| Operating profit (loss)9901 | €506 | €5,600 | -€3,319 | €10,264 | €190 | -€7,728 | €3,571 | - |
| Financial income75/76B | - | - | - | €82 | €0 | €126 | €166 | ▲ 32.5% |
| Recurring financial income75 | €287 | €72 | - | €82 | €0 | €126 | €166 | ▲ 32.5% |
| Financial charges65/66B | - | - | - | €164 | €118 | €178 | €133 | ▼ 25.4% |
| Recurring financial charges65 | €137 | €136 | €163 | €164 | €118 | €178 | €133 | ▼ 25.4% |
| Profit (loss) for the period before taxes9903 | €1,048 | €5,536 | -€3,483 | €10,182 | €72 | -€7,781 | €3,604 | - |
| Income taxes67/77 | - | - | €1,065 | €926 | - | - | - | - |
| Profit (loss) for the period9904 | €1,048 | €5,536 | -€4,548 | €9,256 | €72 | -€7,781 | €3,604 | - |
| Profit (loss) for the period to be appropriated9905 | €1,048 | €5,536 | -€4,548 | €9,256 | €72 | -€7,781 | €3,604 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €47,215 | €51,539 | €47,395 | €59,407 | €55,829 | €48,289 | €52,568 | ▲ 8.9% |
| Fixed assets21/28 | €13,730 | €27,912 | €24,521 | €21,092 | €22,916 | €16,427 | €19,166 | ▲ 16.7% |
| Tangible fixed assets22/27 | €13,730 | €27,912 | €24,521 | €21,092 | €22,916 | €16,427 | €19,166 | ▲ 16.7% |
| Land and buildings22 | - | - | - | €14,652 | €11,789 | €8,926 | €6,352 | ▼ 28.8% |
| Plant, machinery and equipment23 | - | - | - | €6,440 | €10,303 | €6,876 | €10,540 | ▲ 53.3% |
| Furniture and vehicles24 | - | - | - | - | €824 | €625 | €2,274 | ▲ 264% |
| Current assets29/58 | €33,485 | €23,628 | €22,873 | €38,315 | €32,914 | €31,862 | €33,402 | ▲ 4.8% |
| Amounts receivable within one year40/41 | €7,197 | €3,007 | €2,150 | €6,853 | €4,220 | €2,397 | €2,881 | ▲ 20.2% |
| Trade receivables40 | - | - | - | €5,824 | €2,176 | €1,280 | €1,752 | ▲ 36.9% |
| Other amounts receivable41 | - | - | - | €1,030 | €2,044 | €1,116 | €1,129 | ▲ 1.1% |
| Cash at bank and in hand54/58 | €26,289 | €20,621 | €20,723 | €31,462 | €28,693 | €29,465 | €30,521 | ▲ 3.6% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €47,215 | €51,539 | €47,395 | €59,407 | €55,829 | €48,289 | €52,568 | ▲ 8.9% |
| Equity10/15 | €29,652 | €35,188 | €30,641 | €39,897 | €39,968 | €32,188 | €35,792 | ▲ 11.2% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €11,052 | €16,588 | €12,041 | €21,297 | €21,368 | €13,588 | €17,192 | ▲ 26.5% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €19,437 | €19,508 | €11,728 | €15,332 | ▲ 30.7% |
| Amounts payable17/49 | €17,563 | €16,351 | €16,754 | €19,511 | €15,861 | €16,101 | €16,775 | ▲ 4.2% |
| Amounts payable within one year42/48 | €14,563 | €16,351 | €16,754 | €19,511 | €15,861 | €16,101 | €16,775 | ▲ 4.2% |
| Trade debts44 | €3,611 | €662 | - | - | €123 | €250 | €0 | ▼ 100% |
| Suppliers440/4 | - | - | - | - | €123 | €250 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | - | €3,822 | - | €113 | €639 | ▲ 466% |
| Taxes450/3 | - | - | - | €3,822 | - | €113 | €639 | ▲ 466% |
| Other amounts payable47/48 | - | - | - | €15,688 | €15,738 | €15,738 | €16,136 | ▲ 2.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,048 | €5,536 | -€4,548 | €9,256 | €72 | -€7,781 | €3,604 | - |
| + Depreciation and write-downs630 | €2,735 | €5,361 | €4,912 | €5,588 | €6,436 | €7,234 | €5,937 | ▼ 17.9% |
| Operating cash flow (approximation) | €3,783 | €10,897 | €364 | €14,845 | €6,508 | -€547 | €9,541 | - |
| Investment in fixed assets (approximation) | - | -€19,543 | -€1,521 | -€2,159 | -€8,260 | -€745 | -€8,675 | ▼ 1,064% |
| Change in cash | - | -€5,668 | €102 | €10,739 | -€2,769 | €772 | €1,056 | ▲ 36.7% |
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, 31,368 companies had the same profile as DECIBEL has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DECIBEL 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 31,368 companies, not a prediction for DECIBEL. 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 23 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 27-01-2026 | 2026-00016947 | |
| 30-06-2024 | micro format | 18-02-2025 | 2025-00038017 | |
| 30-06-2023 | micro format | 08-02-2024 | 2024-00027925 | |
| 30-06-2022 | micro format | 26-01-2023 | 2023-00004465 | |
| 30-06-2021 | micro format | 11-02-2022 | 2022-05600336 | |
| 30-06-2020 | micro format | 29-01-2021 | 2021-04000140 | |
| 30-06-2019 | micro format | 18-02-2020 | 2020-05200353 | |
| 30-06-2018 | micro format | 28-02-2019 | 2019-06000292 | |
| 30-06-2017 | micro format | 27-02-2018 | 2018-05600261 | |
| 30-06-2016 | abbreviated format | 30-12-2016 | 2016-72000522 |