DR. SOFIE KERKAERT
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-07-2026 at the NBB all 4 filings
Turnover
≈ €230,000
Estimated: probably between €180,000 and €280,000
Total assets
€373,499▲ 13.4%
2024 · €329,318
Net result
€80,676▲ 14.3%
2024 · €70,568
Working capital
€255,565▲ 37.0%
2024 · €186,509
Multi-year overview
2022 to 2025, 4 financial yearsOperating result
€104,163
▲ 10.9%
2025
20222025
Net result
€80,676
▲ 14.3%
2025
middle half of the sector
20222025
Equity
€312,993
▲ 34.7%
2025
middle half of the sector
20222025
Total assets
€373,499
▲ 13.4%
2025
middle half of the sector
20222025
Debt
€60,506
▼ 37.6%
2025
20222025
Working capital
€255,565
▲ 37.0%
2025
highest quarter of the sector
20222025
Solvency
83.8%
▲ 13.3pp
2025
highest quarter of the sector
20222025
Current ratio
12.57
▲ 7.32
2025
highest quarter of the sector
20222025
Return on assets (ROA)
21.6%
▲ 0.2pp
2025
middle half of the sector
20222025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Operating result€120,735-€89,605▼ 25.8%€93,893▲ 4.8%€104,163▲ 10.9%
Net result€92,439within the sector's middle half-€68,909within the sector's middle half▼ 25.5%€70,568within the sector's middle half▲ 2.4%€80,676within the sector's middle half▲ 14.3%
Equity€93,639within the sector's middle half-€161,749within the sector's middle half▲ 72.7%€232,317within the sector's middle half▲ 43.6%€312,993within the sector's middle half▲ 34.7%
Total assets€173,582within the sector's middle half-€252,397within the sector's middle half▲ 45.4%€329,318within the sector's middle half▲ 30.5%€373,499within the sector's middle half▲ 13.4%
Debt€79,943-€90,648▲ 13.4%€97,001▲ 7.0%€60,506▼ 37.6%
Working capital€51,120within the sector's middle half-€135,041within the sector's middle half▲ 164%€186,509within the sector's middle half▲ 38.1%€255,565above the sector's middle half▲ 37.0%
Solvency53.9%within the sector's middle half-64.1%within the sector's middle half▲ 10.1pp70.5%within the sector's middle half▲ 6.5pp83.8%above the sector's middle half▲ 13.3pp
Current ratio1.70within the sector's middle half-3.97within the sector's middle half▲ 2.275.24within the sector's middle half▲ 1.2812.57above the sector's middle half▲ 7.32
Return on assets (ROA)53.3%above the sector's middle half-27.3%within the sector's middle half▼ 26.0pp21.4%within the sector's middle half▼ 5.9pp21.6%within the sector's middle half▲ 0.2pp
above
within
below
The sector band is the middle half of the companies in Human health activities (NACE 86). 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 11% higher than in 2024. It is the second rise in a row, after the fall in 2023.
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 €373,499
Fixed assets
€95,839 ▼ 3.1%
Current assets
€277,660 ▲ 20.5%
Equity and liabilities €373,499
Equity
€312,993 ▲ 34.7%
Debt
€60,506 ▼ 37.6%
Debt's share of the balance-sheet total falls from 29.5% to 16.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€124,742▲
2024 · €114,739
Cash flow
€101,255▲
2024 · €91,414
Debt to equity
0.19▼
2024 · 0.42
ROE
25.8%▼
2024 · 30.4%
Interest coverage
50.71▲
2024 · 45.83
Debt ≤ 1 year
€22,095▼
2024 · €43,945
Debt > 1 year
€38,412▼
2024 · €53,056
Income taxes
€21,198▲
2024 · €19,092
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €63,882 | €36,737 | €67,123 | €15,554 |
| Intangible fixed assets | €1,283 | - | - | - |
| Financial fixed assets | €300 | - | - | €2,000 |
| Depreciation and write-downs of the year | €16,081 | €14,298 | €20,846 | €20,579 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16,081 | €14,298 | €20,846 | €20,579 | ▼ 1.3% |
| Other operating charges640/8 | €3,202 | €1,487 | €1,193 | €1,092 | ▼ 8.4% |
| Gross operating margin9900 | €140,018 | €105,389 | €115,931 | €125,834 | ▲ 8.5% |
| Operating profit (loss)9901 | €120,735 | €89,605 | €93,893 | €104,163 | ▲ 10.9% |
| Financial income75/76B | €5 | €106 | €507 | €170 | ▼ 66.4% |
| Recurring financial income75 | €5 | €106 | €507 | €170 | ▼ 66.4% |
| Financial charges65/66B | €1,052 | €1,712 | €4,739 | €2,460 | ▼ 48.1% |
| Recurring financial charges65 | €1,052 | €1,712 | €2,504 | €2,460 | ▼ 1.8% |
| Non-recurring financial charges66B | - | - | €2,236 | - | - |
| Profit (loss) for the period before taxes9903 | €119,688 | €87,999 | €89,661 | €101,873 | ▲ 13.6% |
| Income taxes67/77 | €27,248 | €19,090 | €19,092 | €21,198 | ▲ 11.0% |
| Profit (loss) for the period9904 | €92,439 | €68,909 | €70,568 | €80,676 | ▲ 14.3% |
| Profit (loss) for the period to be appropriated9905 | €92,439 | €68,909 | €70,568 | €80,676 | ▲ 14.3% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €173,582 | €252,397 | €329,318 | €373,499 | ▲ 13.4% |
| Fixed assets21/28 | €49,383 | €71,822 | €98,864 | €95,839 | ▼ 3.1% |
| Tangible fixed assets22/27 | €49,083 | €71,522 | €98,564 | €93,539 | ▼ 5.1% |
| Plant, machinery and equipment23 | €510 | €218 | €1,892 | €12,587 | ▲ 565% |
| Furniture and vehicles24 | €34,886 | €27,807 | €52,096 | €39,457 | ▼ 24.3% |
| Other tangible fixed assets26 | €13,687 | €43,496 | €44,576 | €41,495 | ▼ 6.9% |
| Financial fixed assets28 | €300 | €300 | €300 | €2,300 | ▲ 667% |
| Current assets29/58 | €124,199 | €180,575 | €230,454 | €277,660 | ▲ 20.5% |
| Amounts receivable within one year40/41 | €16,582 | €29,230 | €26,778 | €124,394 | ▲ 365% |
| Trade receivables40 | €16,582 | €29,230 | €26,778 | €21,480 | ▼ 19.8% |
| Other amounts receivable41 | - | - | - | €102,914 | - |
| Current investments50/53 | - | - | - | €20,000 | - |
| Cash at bank and in hand54/58 | €98,122 | €141,667 | €200,894 | €133,266 | ▼ 33.7% |
| Deferred charges and accrued income490/1 | €9,495 | €9,678 | €2,783 | - | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €173,582 | €252,397 | €329,318 | €373,499 | ▲ 13.4% |
| Equity10/15 | €93,639 | €161,749 | €232,317 | €312,993 | ▲ 34.7% |
| Contributions10/11 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves13 | €91,639 | €159,749 | €230,317 | €310,993 | ▲ 35.0% |
| Distributable reserves133 | €91,639 | €159,749 | €230,317 | €310,993 | ▲ 35.0% |
| Amounts payable17/49 | €79,943 | €90,648 | €97,001 | €60,506 | ▼ 37.6% |
| Amounts payable after more than one year17 | €6,251 | €43,747 | €53,056 | €38,412 | ▼ 27.6% |
| Financial debts170/4 | €6,251 | €43,747 | €53,056 | €38,412 | ▼ 27.6% |
| Amounts payable within one year42/48 | €73,080 | €45,534 | €43,945 | €22,095 | ▼ 49.7% |
| Current portion of amounts payable after more than one year42 | €9,997 | €6,253 | €14,238 | €14,644 | ▲ 2.9% |
| Trade debts44 | €6,783 | €2,004 | €404 | €250 | ▼ 38.1% |
| Suppliers440/4 | €6,783 | €2,004 | €404 | €250 | ▼ 38.1% |
| Taxes, remuneration and social security45 | €33,923 | €24,308 | €24,191 | €6,400 | ▼ 73.5% |
| Taxes450/3 | €33,923 | €24,308 | €24,191 | €6,400 | ▼ 73.5% |
| Other amounts payable47/48 | €22,376 | €12,970 | €5,112 | €800 | ▼ 84.4% |
| Accrued charges and deferred income492/3 | €612 | €1,367 | - | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €92,439 | €68,909 | €70,568 | €80,676 | ▲ 14.3% |
| + Depreciation and write-downs630 | €16,081 | €14,298 | €20,846 | €20,579 | ▼ 1.3% |
| Operating cash flow (approximation) | €108,521 | €83,207 | €91,414 | €101,255 | ▲ 10.8% |
| Investment in fixed assets (approximation) | - | -€36,737 | -€47,888 | -€17,554 | ▲ 63.3% |
| Change in cash | - | €43,545 | €59,226 | -€67,628 | - |
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, 26,972 companies had the same profile as DR. SOFIE KERKAERT has now. Two years later, 94.9% were still going and 1.6% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
94.9%
was still going
3.4%
stopped otherwise
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of DR. SOFIE KERKAERT itself is lower: < 0.1% within 12 months. It rests on far more data about DR. SOFIE KERKAERT 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 26,972 companies, not a prediction for DR. SOFIE KERKAERT. 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.