DEEP FOCUS
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 22-07-2026 at the NBB all 13 filings
Turnover
≈ €110,000
Estimated: probably between €67,000 and €200,000
Total assets
€59,938▲ 17.1%
2024 · €51,198
Net result
€16,220
2024 · -€6,842
Working capital
€16,218▲ 78.2%
2024 · €9,099
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€22,483
2025
20192025
Net result
€16,220
2025
middle half of the sector
20192025
Equity
€19,953
▲ 63.6%
2025
middle half of the sector
20192025
Total assets
€59,938
▲ 17.1%
2025
middle half of the sector
20192025
Debt
€39,985
▲ 2.5%
2025
20192025
Working capital
€16,218
▲ 78.2%
2025
middle half of the sector
20192025
Solvency
33.3%
▲ 9.5pp
2025
middle half of the sector
20192025
Current ratio
1.41
▲ 0.17
2025
middle half of the sector
20192025
Return on assets (ROA)
27.1%
▲ 40.4pp
2025
highest 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€6,220-€6,513▲ 4.7%€2,941▼ 54.8%€7,168▲ 144%€4,334▼ 39.5%-€6,658€22,483
Net result€3,058-€3,364within the sector's middle half▲ 10.0%€912within the sector's middle half▼ 72.9%€4,188within the sector's middle half▲ 359%€2,515within the sector's middle half▼ 39.9%-€6,842below the sector's middle half€16,220within the sector's middle half
Equity€17,597-€20,961within the sector's middle half▲ 19.1%€21,873within the sector's middle half▲ 4.4%€22,332within the sector's middle half▲ 2.1%€21,308within the sector's middle half▼ 4.6%€12,197within the sector's middle half▼ 42.8%€19,953within the sector's middle half▲ 63.6%
Total assets€50,261-€47,457within the sector's middle half▼ 5.6%€55,815within the sector's middle half▲ 17.6%€43,519below the sector's middle half▼ 22.0%€54,537within the sector's middle half▲ 25.3%€51,198within the sector's middle half▼ 6.1%€59,938within the sector's middle half▲ 17.1%
Debt€32,664-€26,496▼ 18.9%€33,942▲ 28.1%€21,187▼ 37.6%€33,228▲ 56.8%€39,001▲ 17.4%€39,985▲ 2.5%
Working capital€14,769-€16,052within the sector's middle half▲ 8.7%€18,644within the sector's middle half▲ 16.1%€16,386within the sector's middle half▼ 12.1%€16,508within the sector's middle half▲ 0.7%€9,099within the sector's middle half▼ 44.9%€16,218within the sector's middle half▲ 78.2%
Solvency35.0%-44.2%within the sector's middle half▲ 9.2pp39.2%within the sector's middle half▼ 5.0pp51.3%within the sector's middle half▲ 12.1pp39.1%within the sector's middle half▼ 12.2pp23.8%within the sector's middle half▼ 15.2pp33.3%within the sector's middle half▲ 9.5pp
Current ratio1.45-1.71within the sector's middle half▲ 0.251.62within the sector's middle half▼ 0.081.79within the sector's middle half▲ 0.171.50within the sector's middle half▼ 0.301.23within the sector's middle half▼ 0.261.41within the sector's middle half▲ 0.17
Return on assets (ROA)6.1%-7.1%within the sector's middle half▲ 1.0pp1.6%within the sector's middle half▼ 5.5pp9.6%within the sector's middle half▲ 8.0pp4.6%within the sector's middle half▼ 5.0pp-13.4%below the sector's middle half▼ 18.0pp27.1%above the sector's middle half▲ 40.4pp
above
within
below
The sector band is the middle half of the companies in Motion picture, video and television programme production, sound recording and music publishing activities (NACE 59). 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 €22,483, after a loss of €6,658 in 2024. It is the highest result since 2021.
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 €59,938
Fixed assets
€3,935 ▲ 27.0%
Current assets
€56,003 ▲ 16.4%
Equity and liabilities €59,938
Equity
€19,953 ▲ 63.6%
Debt
€39,985 ▲ 2.5%
Debt's share of the balance-sheet total falls from 76.2% to 66.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€22,672▲
2024 · -€4,955
Cash flow
€16,409▲
2024 · -€5,139
Debt to equity
2.00▼
2024 · 3.20
ROE
81.3%▲
2024 · -56.1%
Interest coverage
78.70▲
2024 · -26.86
Debt ≤ 1 year
€39,785▲
2024 · €39,001
Income taxes
€5,976▲
2024 · €1
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 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €830 | - | - | €1,027 |
| Depreciation and write-downs of the year | €1,605 | €1,703 | €1,703 | €189 |
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 | €1,073 | €1,426 | €1,426 | €1,605 | €1,703 | €1,703 | €189 | ▼ 88.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | - | €3,164 | - |
| Other operating charges640/8 | - | - | - | €1,050 | €1,560 | €1,165 | €1,928 | ▲ 65.6% |
| Gross operating margin9900 | €7,293 | €8,376 | €5,391 | €9,823 | €7,596 | -€3,790 | €27,764 | - |
| Operating profit (loss)9901 | €6,220 | €6,513 | €2,941 | €7,168 | €4,334 | -€6,658 | €22,483 | - |
| Financial income75/76B | - | - | - | €8 | €219 | €2 | €1 | ▼ 45.8% |
| Recurring financial income75 | €44 | €73 | €0 | €8 | €219 | €2 | €1 | ▼ 45.8% |
| Financial charges65/66B | - | - | - | €176 | €248 | €185 | €288 | ▲ 56.1% |
| Recurring financial charges65 | €585 | €1,089 | €967 | €176 | €248 | €185 | €288 | ▲ 56.1% |
| Profit (loss) for the period before taxes9903 | €5,680 | €5,497 | €1,975 | €7,000 | €4,305 | -€6,840 | €22,195 | - |
| Income taxes67/77 | €2,622 | €2,133 | €1,063 | €2,812 | €1,790 | €1 | €5,976 | ▲ 4,493× |
| Profit (loss) for the period9904 | €3,058 | €3,364 | €912 | €4,188 | €2,515 | -€6,842 | €16,220 | - |
| Profit (loss) for the period to be appropriated9905 | €3,058 | €3,364 | €912 | €4,188 | €2,515 | -€6,842 | €16,220 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €50,261 | €47,457 | €55,815 | €43,519 | €54,537 | €51,198 | €59,938 | ▲ 17.1% |
| Fixed assets21/28 | €3,000 | €8,704 | €7,278 | €6,503 | €4,800 | €3,098 | €3,935 | ▲ 27.0% |
| Tangible fixed assets22/27 | €3,000 | €8,704 | €7,278 | €6,503 | €4,800 | €3,098 | €3,935 | ▲ 27.0% |
| Plant, machinery and equipment23 | - | - | - | €651 | €374 | €98 | €935 | ▲ 858% |
| Furniture and vehicles24 | - | - | - | €2,852 | €1,426 | €0 | - | - |
| Other tangible fixed assets26 | - | - | - | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Current assets29/58 | €47,261 | €38,753 | €48,536 | €37,015 | €49,736 | €48,101 | €56,003 | ▲ 16.4% |
| Amounts receivable within one year40/41 | €8,478 | €14,060 | €33,735 | €16,545 | €40,848 | €46,331 | €39,851 | ▼ 14.0% |
| Trade receivables40 | - | - | - | €8,844 | €38,355 | €45,395 | €36,747 | ▼ 19.1% |
| Other amounts receivable41 | - | - | - | €7,701 | €2,493 | €935 | €3,104 | ▲ 232% |
| Cash at bank and in hand54/58 | €38,782 | €24,693 | €14,802 | €20,470 | €8,488 | €1,155 | €15,426 | ▲ 13× |
| Deferred charges and accrued income490/1 | - | - | - | - | €400 | €615 | €726 | ▲ 18.0% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €50,261 | €47,457 | €55,815 | €43,519 | €54,537 | €51,198 | €59,938 | ▲ 17.1% |
| Equity10/15 | €17,597 | €20,961 | €21,873 | €22,332 | €21,308 | €12,197 | €19,953 | ▲ 63.6% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €11,397 | €14,761 | €15,673 | €16,132 | €15,108 | €10,979 | €13,753 | ▲ 25.3% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €0 | - | - |
| Distributable reserves133 | - | - | - | €14,272 | €13,248 | €10,979 | €13,753 | ▲ 25.3% |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | -€4,982 | €0 | - |
| Amounts payable17/49 | €32,664 | €26,496 | €33,942 | €21,187 | €33,228 | €39,001 | €39,985 | ▲ 2.5% |
| Amounts payable after more than one year17 | - | €3,796 | €2,199 | €558 | €0 | - | - | - |
| Financial debts170/4 | - | - | - | €558 | €0 | - | - | - |
| Amounts payable within one year42/48 | €32,492 | €22,701 | €29,892 | €20,629 | €33,228 | €39,001 | €39,785 | ▲ 2.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €1,642 | €558 | €0 | - | - |
| Trade debts44 | €6,498 | €798 | €15,549 | €3,019 | €16,385 | €24,032 | €4,877 | ▼ 79.7% |
| Suppliers440/4 | - | - | - | €3,019 | €16,385 | €24,032 | €4,877 | ▼ 79.7% |
| Advances received on contracts in progress46 | - | - | - | €2,636 | €1,840 | €0 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €5,631 | €7,179 | €6,048 | €14,901 | ▲ 146% |
| Taxes450/3 | - | - | - | €3,381 | €7,179 | €6,048 | €12,651 | ▲ 109% |
| Remuneration and social security454/9 | - | - | - | €2,250 | €0 | - | €2,250 | - |
| Other amounts payable47/48 | - | - | - | €7,702 | €7,267 | €8,921 | €20,007 | ▲ 124% |
| Accrued charges and deferred income492/3 | - | - | - | €0 | - | - | €200 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,058 | €3,364 | €912 | €4,188 | €2,515 | -€6,842 | €16,220 | - |
| + Depreciation and write-downs630 | €1,073 | €1,426 | €1,426 | €1,605 | €1,703 | €1,703 | €189 | ▼ 88.9% |
| Operating cash flow (approximation) | €4,131 | €4,790 | €2,338 | €5,793 | €4,218 | -€5,139 | €16,409 | - |
| Investment in fixed assets (approximation) | - | -€7,130 | €0 | -€830 | €0 | €0 | -€1,027 | - |
| Change in cash | - | -€14,089 | -€9,891 | €5,669 | -€11,982 | -€7,333 | €14,271 | - |
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 DEEP FOCUS 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 DEEP FOCUS 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 DEEP FOCUS. 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 13 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 22-07-2026 | 2026-00316896 | |
| 31-12-2024 | micro format | 28-08-2025 | 2025-00420568 | |
| 30-06-2023 | micro format | 31-01-2024 | 2024-00015394 | |
| 30-06-2022 | micro format | 31-01-2023 | 2023-00012167 | |
| 30-06-2021 | micro format | 28-01-2022 | 2022-02300398 | |
| 30-06-2020 | micro format | 29-01-2021 | 2021-02500080 | |
| 30-06-2019 | micro format | 31-01-2020 | 2020-04300419 | |
| 30-06-2018 | micro format | 31-01-2019 | 2019-04700135 | |
| 30-06-2017 | micro format | 17-04-2018 | 2018-10000273 | |
| 30-06-2016 | abbreviated format | 20-12-2016 | 2016-70500184 |