Define IT
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 26-05-2026 PDF all 9 filings
Turnover
≈ €160,000
Estimated: probably between €140,000 and €230,000
Total assets
€136,235▲ 166%
2024 · €51,154
Net result
€52,916▲ 1,081×
2024 · €49
Working capital
€18,703
2024 · -€768
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€102,759
▲ 231×
2025
20182025
Net result
€52,916
▲ 1,081×
2025
middle half of the sector
20182025
Equity
€18,600
2025
lowest quarter of the sector
20182025
Total assets
€136,235
▲ 166%
2025
middle half of the sector
20182025
Debt
€117,635
▲ 112%
2025
20182025
Working capital
€18,703
2025
middle half of the sector
20182025
Solvency
13.7%
▲ 22.3pp
2025
lowest quarter of the sector
20182025
Current ratio
1.16
▲ 0.18
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
38.8%
▲ 38.7pp
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€31,225-€15,543▼ 50.2%€60,511▲ 289%€50,641▼ 16.3%€52,507▲ 3.7%€25,029▼ 52.3%€445▼ 98.2%€102,759▲ 231×
Net result€24,137-€11,597▼ 52.0%€25,201within the sector's middle half▲ 117%€13,096within the sector's middle half▼ 48.0%€7,945within the sector's middle half▼ 39.3%-€23,091below the sector's middle half€49below the sector's middle half€52,916within the sector's middle half▲ 1,081×
Equity€35,351-€53,148▲ 50.3%€78,348within the sector's middle half▲ 47.4%€91,445within the sector's middle half▲ 16.7%€99,390within the sector's middle half▲ 8.7%-€4,491below the sector's middle half-€4,442below the sector's middle half▲ 1.1%€18,600below the sector's middle half
Total assets€64,689-€72,633▲ 12.3%€101,944within the sector's middle half▲ 40.4%€127,079within the sector's middle half▲ 24.7%€202,473within the sector's middle half▲ 59.3%€84,516within the sector's middle half▼ 58.3%€51,154below the sector's middle half▼ 39.5%€136,235within the sector's middle half▲ 166%
Debt€29,339-€19,486▼ 33.6%€23,596▲ 21.1%€35,634▲ 51.0%€103,083▲ 189%€89,007▼ 13.7%€55,596▼ 37.5%€117,635▲ 112%
Working capital€51,618-€50,992▼ 1.2%€72,503within the sector's middle half▲ 42.2%€88,607within the sector's middle half▲ 22.2%€86,822within the sector's middle half▼ 2.0%-€8,115below the sector's middle half-€768below the sector's middle half▲ 90.5%€18,703within the sector's middle half
Solvency54.6%-73.2%▲ 18.5pp76.9%within the sector's middle half▲ 3.7pp72.0%within the sector's middle half▼ 4.9pp49.1%within the sector's middle half▼ 22.9pp-5.3%below the sector's middle half▼ 54.4pp-8.7%below the sector's middle half▼ 3.4pp13.7%below the sector's middle half▲ 22.3pp
Current ratio5.45-3.62▼ 1.844.07within the sector's middle half▲ 0.463.49within the sector's middle half▼ 0.592.28within the sector's middle half▼ 1.210.87below the sector's middle half▼ 1.410.98below the sector's middle half▲ 0.111.16below the sector's middle half▲ 0.18
Return on assets (ROA)37.3%-16.0%▼ 21.3pp24.7%within the sector's middle half▲ 8.8pp10.3%within the sector's middle half▼ 14.4pp3.9%within the sector's middle half▼ 6.4pp-27.3%below the sector's middle half▼ 31.2pp0.1%below the sector's middle half▲ 27.4pp38.8%above the sector's middle half▲ 38.7pp
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 231 times that of 2024 and the highest since 2021. It is a recovery after the fall 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 €136,235
Fixed assets
€2,964 ▼ 70.5%
Current assets
€133,271 ▲ 224%
Equity and liabilities €136,235
Equity
€18,600
Debt
€117,635
Debt's share of the balance-sheet total is 86.3%.
Key figures and ratios
EBITDA
€109,833▲
2024 · €21,882
Cash flow
€59,990▲
2024 · €21,486
Debt to equity
6.32
ROE
284.5%
Interest coverage
2.64▼
2024 · 55.21
Debt ≤ 1 year
€114,568▲
2024 · €41,884
Debt > 1 year
€2,756▼
2024 · €13,711
Income taxes
€8,242
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €63,120 | €1,140 | €3,291 | - |
| Depreciation and write-downs of the year | €3,007 | €16,322 | €20,826 | €21,437 | €7,074 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2024 to 2025 · 2 entries · €1,155 awarded · €1,155 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €675 | €675 |
| 2024 | 1 | €480 | €480 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €995 | €1,409 | €2,672 | €3,007 | €16,322 | €20,826 | €21,437 | €7,074 | ▼ 67.0% |
| Other operating charges640/8 | - | - | - | €835 | €491 | €448 | €417 | €400 | ▼ 4.2% |
| Gross operating margin9900 | €32,858 | €17,428 | €64,034 | €54,482 | €69,320 | €46,303 | €22,300 | €110,233 | ▲ 394% |
| Operating profit (loss)9901 | €31,225 | €15,543 | €60,511 | €50,641 | €52,507 | €25,029 | €445 | €102,759 | ▲ 231× |
| Financial income75/76B | - | - | - | €2 | €6 | - | - | €1 | - |
| Recurring financial income75 | €123 | €0 | €1 | €2 | €6 | - | - | €1 | - |
| Financial charges65/66B | - | - | - | €32,626 | €43,340 | €47,954 | €396 | €41,601 | ▲ 105× |
| Recurring financial charges65 | €324 | €198 | €27,865 | €32,626 | €43,340 | €47,954 | €396 | €41,601 | ▲ 105× |
| Profit (loss) for the period before taxes9903 | €31,025 | €15,346 | €32,646 | €18,016 | €9,173 | -€22,925 | €49 | €61,158 | ▲ 1,249× |
| Income taxes67/77 | €6,888 | €3,749 | €7,446 | €4,920 | €1,228 | €166 | - | €8,242 | - |
| Profit (loss) for the period9904 | €24,137 | €11,597 | €25,201 | €13,096 | €7,945 | -€23,091 | €49 | €52,916 | ▲ 1,081× |
| Profit (loss) for the period to be appropriated9905 | €24,137 | €11,597 | €25,201 | €13,096 | €7,945 | -€23,091 | €49 | €52,916 | ▲ 1,081× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €64,689 | €72,633 | €101,944 | €127,079 | €202,473 | €84,516 | €51,154 | €136,235 | ▲ 166% |
| Fixed assets21/28 | €1,479 | €2,155 | €5,845 | €2,838 | €47,870 | €28,184 | €10,038 | €2,964 | ▼ 70.5% |
| Tangible fixed assets22/27 | €1,479 | €2,155 | €5,845 | €2,838 | €47,870 | €28,184 | €10,038 | €2,964 | ▼ 70.5% |
| Plant, machinery and equipment23 | - | - | - | - | €4,590 | €3,537 | €2,483 | €1,430 | ▼ 42.4% |
| Furniture and vehicles24 | - | - | - | €2,838 | €43,280 | €24,647 | €7,555 | €1,534 | ▼ 79.7% |
| Current assets29/58 | €63,210 | €70,478 | €96,099 | €124,241 | €154,603 | €56,333 | €41,116 | €133,271 | ▲ 224% |
| Amounts receivable within one year40/41 | €24,150 | €5,835 | €30,388 | €19,147 | €27,482 | €21,013 | €26,268 | €33,678 | ▲ 28.2% |
| Trade receivables40 | - | - | - | €19,147 | €20,710 | €13,179 | €10,434 | €33,678 | ▲ 223% |
| Other amounts receivable41 | - | - | - | - | €6,772 | €7,834 | €15,834 | - | - |
| Cash at bank and in hand54/58 | €39,060 | €64,243 | €64,270 | €103,575 | €126,084 | €34,079 | €13,574 | €98,287 | ▲ 624% |
| Deferred charges and accrued income490/1 | - | - | - | €1,519 | €1,037 | €1,240 | €1,274 | €1,306 | ▲ 2.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €64,689 | €72,633 | €101,944 | €127,079 | €202,473 | €84,516 | €51,154 | €136,235 | ▲ 166% |
| Equity10/15 | €35,351 | €53,148 | €78,348 | €91,445 | €99,390 | -€4,491 | -€4,442 | €18,600 | - |
| Contributions10/11 | €12,400 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €34,548 | €59,748 | €72,845 | €80,790 | - | - | - | - |
| Non-distributable reserves130/1 | - | - | - | €1,860 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | - | - | - | - | - |
| Distributable reserves133 | - | - | - | €70,985 | €80,790 | - | - | - | - |
| Profit (loss) carried forward14 | €21,091 | - | - | - | - | -€23,091 | -€23,042 | - | - |
| Amounts payable17/49 | €29,339 | €19,486 | €23,596 | €35,634 | €103,083 | €89,007 | €55,596 | €117,635 | ▲ 112% |
| Amounts payable after more than one year17 | - | - | - | - | €35,302 | €24,560 | €13,711 | €2,756 | ▼ 79.9% |
| Financial debts170/4 | - | - | - | - | €35,302 | €24,560 | €13,711 | €2,756 | ▼ 79.9% |
| Amounts payable within one year42/48 | €11,592 | €19,486 | €23,596 | €35,634 | €67,782 | €64,448 | €41,884 | €114,568 | ▲ 174% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €11,557 | €11,624 | €10,848 | €10,956 | ▲ 1.0% |
| Trade debts44 | €2,338 | €4,191 | €45 | €1,739 | €3,948 | €5,816 | €1,576 | €5,516 | ▲ 250% |
| Suppliers440/4 | - | - | - | €1,739 | €3,948 | €5,816 | €1,576 | €5,516 | ▲ 250% |
| Taxes, remuneration and social security45 | - | - | - | €11,342 | €7,763 | €8,852 | €3,258 | €4,061 | ▲ 24.7% |
| Taxes450/3 | - | - | - | €7,708 | €2,594 | €6,530 | €882 | €4,061 | ▲ 360% |
| Remuneration and social security454/9 | - | - | - | €3,634 | €5,169 | €2,322 | €2,376 | - | - |
| Other amounts payable47/48 | - | - | - | €22,553 | €44,514 | €38,155 | €26,202 | €94,035 | ▲ 259% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | - | €311 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24,137 | €11,597 | €25,201 | €13,096 | €7,945 | -€23,091 | €49 | €52,916 | ▲ 1,081× |
| + Depreciation and write-downs630 | €995 | €1,409 | €2,672 | €3,007 | €16,322 | €20,826 | €21,437 | €7,074 | ▼ 67.0% |
| Operating cash flow (approximation) | €25,132 | €13,006 | €27,873 | €16,104 | €24,267 | -€2,265 | €21,486 | €59,990 | ▲ 179% |
| Investment in fixed assets (approximation) | - | -€2,085 | -€6,362 | -€0 | -€61,354 | -€1,140 | -€3,291 | €0 | - |
| Change in cash | - | €25,183 | €27 | €39,305 | €22,509 | -€92,005 | -€20,505 | €84,712 | - |
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, 5,053 companies had the same profile as Define IT has now. Two years later, 95.9% were still going and 1.6% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
95.9%
was still going
2.4%
stopped otherwise
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Define IT itself is lower: < 0.1% within 12 months. It rests on far more data about Define IT 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 5,053 companies, not a prediction for Define IT. 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.
Filings with the National Bank (9)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 26-05-2026 | 2026-00120153 | |
| 31-12-2024 | micro format | 30-06-2025 | 2025-00198309 | |
| 31-12-2023 | micro format | 05-07-2024 | 2024-00220590 | |
| 31-12-2022 | micro format | 25-05-2023 | 2023-00094364 | |
| 31-12-2021 | micro format | 25-07-2022 | 2022-20217766 | |
| 31-12-2020 | micro format | 05-07-2021 | 2021-31200200 | |
| 31-12-2019 | micro format | 22-07-2020 | 2020-32300199 | |
| 31-12-2018 | micro format | 08-07-2019 | 2019-29900549 | |
| 31-12-2017 | micro format | 06-07-2018 | 2018-30100404 |