Den August
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-07-2026 at the NBB all 2 filings
Every figure per financial year
The operating result for 2025 is a loss of €92,809, larger than the loss of €72,324 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.
Staff
| Item | 31-12-2024 | 31-12-2025 |
|---|---|---|
| Average over the year, in full-time equivalents | 1.5 | 1 |
Source: social balance sheet in the 2024 to 2025 annual accounts
Investments
| Item | 2024 | 2025 |
|---|---|---|
| Tangible fixed assets | €134,507 | €35,318 |
| Financial fixed assets | €7,200 | - |
| Depreciation and write-downs of the year | €12,316 | €28,922 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Remuneration, social security and pensions62 | €37,103 | €147,347 | ▲ 297% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,316 | €28,922 | ▲ 135% |
| Other operating charges640/8 | €80 | €223 | ▲ 177% |
| Gross operating margin9900 | -€22,824 | €83,684 | - |
| Operating profit (loss)9901 | -€72,324 | -€92,809 | ▼ 28.3% |
| Financial income75/76B | €1 | €6 | ▲ 459% |
| Recurring financial income75 | €1 | €6 | ▲ 459% |
| Financial charges65/66B | €1,040 | €2,996 | ▲ 188% |
| Recurring financial charges65 | €1,040 | €2,996 | ▲ 188% |
| Profit (loss) for the period before taxes9903 | -€73,363 | -€95,799 | ▼ 30.6% |
| Income taxes67/77 | - | €0 | - |
| Profit (loss) for the period9904 | -€73,363 | -€95,799 | ▼ 30.6% |
| Profit (loss) for the period to be appropriated9905 | -€73,363 | -€95,799 | ▼ 30.6% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €143,766 | €164,521 | ▲ 14.4% |
| Fixed assets21/28 | €129,391 | €135,787 | ▲ 4.9% |
| Tangible fixed assets22/27 | €122,191 | €128,587 | ▲ 5.2% |
| Plant, machinery and equipment23 | €101,828 | €84,987 | ▼ 16.5% |
| Furniture and vehicles24 | €1,029 | €11,253 | ▲ 993% |
| Other tangible fixed assets26 | €19,334 | €32,346 | ▲ 67.3% |
| Financial fixed assets28 | €7,200 | €7,200 | = |
| Current assets29/58 | €14,375 | €28,734 | ▲ 99.9% |
| Stocks and contracts in progress3 | €9,935 | €9,935 | = |
| Stocks30/36 | €9,935 | €9,935 | = |
| Amounts receivable within one year40/41 | €503 | €11,152 | ▲ 22× |
| Trade receivables40 | €0 | €11,152 | - |
| Other amounts receivable41 | €503 | - | - |
| Cash at bank and in hand54/58 | €2,723 | €4,865 | ▲ 78.7% |
| Deferred charges and accrued income490/1 | €1,214 | €2,782 | ▲ 129% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €143,766 | €164,521 | ▲ 14.4% |
| Equity10/15 | -€71,363 | -€167,161 | ▼ 134% |
| Contributions10/11 | €2,000 | €2,000 | = |
| Profit (loss) carried forward14 | -€73,363 | -€169,161 | ▼ 131% |
| Amounts payable17/49 | €215,128 | €331,682 | ▲ 54.2% |
| Amounts payable after more than one year17 | €70,841 | €58,475 | ▼ 17.5% |
| Financial debts170/4 | €70,841 | €58,475 | ▼ 17.5% |
| Amounts payable within one year42/48 | €139,038 | €273,207 | ▲ 96.5% |
| Current portion of amounts payable after more than one year42 | €8,739 | €9,196 | ▲ 5.2% |
| Trade debts44 | €87,951 | €173,265 | ▲ 97.0% |
| Suppliers440/4 | €87,951 | €173,265 | ▲ 97.0% |
| Advances received on contracts in progress46 | €1,931 | - | - |
| Taxes, remuneration and social security45 | €8,216 | €29,141 | ▲ 255% |
| Taxes450/3 | €488 | €17,992 | ▲ 37× |
| Remuneration and social security454/9 | €7,728 | €11,149 | ▲ 44.3% |
| Other amounts payable47/48 | €32,200 | €61,605 | ▲ 91.3% |
| Accrued charges and deferred income492/3 | €5,250 | - | - |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€73,363 | -€95,799 | ▼ 30.6% |
| + Depreciation and write-downs630 | €12,316 | €28,922 | ▲ 135% |
| Operating cash flow (approximation) | -€61,046 | -€66,876 | ▼ 9.6% |
| Investment in fixed assets (approximation) | - | -€35,318 | - |
| Change in cash | - | €2,142 | - |
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, 7,639 companies had the same profile as Den August has now. Two years later, 84.8% were still going and 8.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- negative equity
- a loss of 10% of the balance sheet or more
Another 0.7% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Den August itself: 6.7% 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 7,639 companies, not a prediction for Den August. 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.