DYNAMIC
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 29-01-2026 PDF all 24 filings
Turnover
€737,776▲ 1.1%
2021 · €729,589
EBIT margin
36.0%▼ 1.6pp
2021 · 37.6%
Net result
€740,760▲ 35.0%
2024 · €548,682
Working capital
€422,251
2024 · -€74,028
Multi-year overview
2019 to 2025, 7 financial yearsTurnover
no figure
2025
20192025
Operating result
€1.4m
▲ 29.1%
2025
20192025
Net result
€740,760
▲ 35.0%
2025
highest quarter of the sector
20192025
EBIT margin
no figure
2025
20192025
Equity
€4.6m
▲ 17.1%
2025
highest quarter of the sector
20192025
Total assets
€14.0m
▲ 0.6%
2025
highest quarter of the sector
20192025
Debt
€9.4m
▼ 6.0%
2025
20192025
Working capital
€422,251
2025
highest quarter of the sector
20192025
Solvency
32.9%
▲ 4.6pp
2025
middle half of the sector
20192025
Current ratio
1.08
▲ 0.09
2025
middle half of the sector
20192025
Return on assets (ROA)
5.3%
▲ 1.3pp
2025
middle half of the sector
20192025
Staff (FTE)
0
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
Turnover€0.8m-€1.0m▲ 20.0%€0.7m▼ 26.0%€0.7m▲ 1.1%
Operating result€0.5m-€0.6m▲ 32.9%€0.3m▼ 54.6%€0.3m▼ 3.1%€2.1m▲ 688%€1.1m▼ 48.1%€1.4m▲ 29.1%
Net result€0.1m-€0.4mabove the sector's middle half▲ 337%€0.09mwithin the sector's middle half▼ 80.0%€0.05mwithin the sector's middle half▼ 39.9%€1.4mabove the sector's middle half▲ 26×€0.5mabove the sector's middle half▼ 60.9%€0.7mabove the sector's middle half▲ 35.0%
EBIT margin55.2%-61.2%▲ 5.9pp37.6%▼ 23.6pp36.0%▼ 1.6pp
Equity€1.5m-€1.9mwithin the sector's middle half▲ 27.9%€2.0mwithin the sector's middle half▲ 3.3%€2.0mwithin the sector's middle half▲ 1.4%€3.4mabove the sector's middle half▲ 67.7%€3.9mabove the sector's middle half▲ 15.3%€4.6mabove the sector's middle half▲ 17.1%
Total assets€10.3m-€11.6mabove the sector's middle half▲ 12.6%€12.9mabove the sector's middle half▲ 11.1%€13.6mabove the sector's middle half▲ 5.5%€14.2mabove the sector's middle half▲ 4.5%€13.9mabove the sector's middle half▼ 1.6%€14.0mabove the sector's middle half▲ 0.6%
Debt€8.7m-€9.6m▲ 10.0%€10.8m▲ 12.7%€11.5m▲ 6.2%€10.8m▼ 6.7%€10.0m▼ 7.0%€9.4m▼ 6.0%
Working capital-€1.6m--€1.2mbelow the sector's middle half▲ 23.3%-€1.4mbelow the sector's middle half▼ 11.5%-€1.2mbelow the sector's middle half▲ 8.6%-€0.6mbelow the sector's middle half▲ 48.7%-€0.07mbelow the sector's middle half▲ 88.3%€0.4mabove the sector's middle half
Solvency14.8%-16.8%below the sector's middle half▲ 2.0pp15.6%below the sector's middle half▼ 1.2pp15.0%below the sector's middle half▼ 0.6pp24.1%below the sector's middle half▲ 9.1pp28.3%within the sector's middle half▲ 4.2pp32.9%within the sector's middle half▲ 4.6pp
Current ratio0.70-0.80within the sector's middle half▲ 0.110.79within the sector's middle half▼ 0.020.81within the sector's middle half▲ 0.020.90within the sector's middle half▲ 0.090.99within the sector's middle half▲ 0.091.08within the sector's middle half▲ 0.09
Return on assets (ROA)1.0%-3.9%within the sector's middle half▲ 2.9pp0.7%within the sector's middle half▼ 3.2pp0.4%within the sector's middle half▼ 0.3pp9.9%within the sector's middle half▲ 9.5pp3.9%within the sector's middle half▼ 6.0pp5.3%within the sector's middle half▲ 1.3pp
Staff (FTE)0within the sector's middle half0within the sector's middle half0within the sector's middle half
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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 29% higher than in 2024. It is a recovery after the fall in 2024.
Large changes and their cause
- 2023 Net result +2,504% on 2022. The accounts now follow the abbreviated format, last year the full format.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €14.0m
Fixed assets
€8.1m ▼ 3.0%
Current assets
€5.9m ▲ 5.8%
Equity and liabilities €14.0m
Equity
€4.6m ▲ 17.1%
Debt
€9.4m ▼ 6.0%
Debt's share of the balance-sheet total falls from 71.7% to 67.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.8m▲
2024 · €1.4m
Cash flow
€1.1m▲
2024 · €890,277
Quick ratio
1.05▲
2024 · 0.98
Debt to equity
2.04▼
2024 · 2.54
ROE
16.1%▲
2024 · 13.9%
Interest coverage
4.30▲
2024 · 3.62
Debt ≤ 1 year
€5.5m▼
2024 · €5.7m
Debt > 1 year
€3.7m▼
2024 · €4.1m
Income taxes
€295,855▲
2024 · €189,132
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Debts secured on the company's own assets | €4.8m | €4.4m | €3.9m | €3.4m |
| Mortgages, amount registered | €75,000 | €75,000 | €75,000 | €75,000 |
| Mortgage mandates | €6.4m | €6.4m | €6.4m | €6.4m |
| Carrying value of the mortgaged assets | €8.2m | €8.5m | €8.1m | €7.9m |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €762,204 | €770,107 | €85,570 | €104,344 |
| Depreciation and write-downs of the year | €290,683 | €449,867 | €341,595 | €351,549 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 · 1 entry · €2,505 awarded · €2,505 paidAnnual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €0.8m | - | - | - | - |
| Turnover70 | €0.8m | €1.0m | €0.7m | €0.7m | - | - | - | - |
| Other operating income74 | - | - | - | €0.04m | - | - | - | - |
| Non-recurring operating income76A | - | - | - | €0.01m | €0 | €0.008m | €0 | ▼ 100% |
| Operating charges60/66A | - | - | - | €0.5m | - | - | - | - |
| Goods for resale, raw materials and consumables60 | - | - | - | €0.02m | - | - | - | - |
| Purchases600/8 | - | - | - | €0.03m | - | - | - | - |
| Change in stocks: decrease (increase)609 | - | - | - | -€0.02m | - | - | - | - |
| Services and other goods61 | - | - | - | €0.2m | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.3m | €0.2m | €0.3m | €0.3m | €0.4m | €0.3m | €0.4m | ▲ 2.9% |
| Other operating charges640/8 | - | - | - | €0.03m | €0.05m | €0.06m | €0.1m | ▲ 135% |
| Non-recurring operating charges66A | - | - | - | €0.008m | €0 | €0.09m | €0 | ▼ 100% |
| Gross operating margin9900 | - | - | - | - | €2.6m | €1.6m | €1.9m | ▲ 19.7% |
| Operating profit (loss)9901 | €0.5m | €0.6m | €0.3m | €0.3m | €2.1m | €1.1m | €1.4m | ▲ 29.1% |
| Financial income75/76B | - | - | - | €0.05m | €0.05m | €0.05m | €0.04m | ▼ 8.0% |
| Recurring financial income75 | €0.02m | €0.1m | €0.07m | €0.05m | €0.05m | €0.05m | €0.04m | ▼ 8.0% |
| Other financial income752/9 | - | - | - | €0.05m | - | - | - | - |
| Financial charges65/66B | - | - | - | €0.2m | €0.3m | €0.4m | €0.4m | ▲ 3.5% |
| Recurring financial charges65 | €0.3m | €0.2m | €0.2m | €0.2m | €0.3m | €0.4m | €0.4m | ▲ 3.5% |
| Debt charges650 | €0.3m | €0.2m | €0.2m | €0.2m | - | - | - | - |
| Other financial charges652/9 | - | - | - | €0.002m | - | - | - | - |
| Non-recurring financial charges66B | - | - | - | - | €0.002m | €0 | - | - |
| Profit (loss) for the period before taxes9903 | €0.1m | €0.6m | €0.1m | €0.08m | €1.9m | €0.7m | €1.0m | ▲ 40.5% |
| Income taxes67/77 | €0.03m | €0.1m | €0.04m | €0.02m | €0.5m | €0.2m | €0.3m | ▲ 56.4% |
| Taxes670/3 | - | - | - | €0.02m | - | - | - | - |
| Profit (loss) for the period9904 | €0.1m | €0.4m | €0.09m | €0.05m | €1.4m | €0.5m | €0.7m | ▲ 35.0% |
| Profit (loss) for the period to be appropriated9905 | €0.1m | €0.4m | €0.09m | €0.05m | €1.4m | €0.5m | €0.7m | ▲ 35.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €10.3m | €11.6m | €12.9m | €13.6m | €14.2m | €13.9m | €14.0m | ▲ 0.6% |
| Fixed assets21/28 | €6.6m | €6.6m | €7.9m | €8.4m | €8.7m | €8.3m | €8.1m | ▼ 3.0% |
| Tangible fixed assets22/27 | €6.6m | €6.6m | €7.9m | €8.4m | €8.7m | €8.3m | €8.1m | ▼ 3.0% |
| Land and buildings22 | - | - | - | €8.3m | €8.7m | €8.3m | €8.1m | ▼ 2.9% |
| Plant, machinery and equipment23 | - | - | - | €0.02m | €0.02m | €0.001m | €0.001m | ▼ 26.9% |
| Furniture and vehicles24 | - | - | - | - | - | €0.03m | €0.02m | ▼ 20.3% |
| Financial fixed assets28 | €0.04m | €1 | €1 | €1 | €0 | - | - | - |
| Affiliated companies280/1 | - | - | - | €1 | - | - | - | - |
| Participating interests280 | - | - | - | €1 | - | - | - | - |
| Current assets29/58 | €3.7m | €5.0m | €4.9m | €5.2m | €5.5m | €5.6m | €5.9m | ▲ 5.8% |
| Amounts receivable after more than one year29 | - | - | - | €4.4m | €4.4m | €4.4m | €4.4m | = |
| Other amounts receivable291 | - | - | - | €4.4m | €4.4m | €4.4m | €4.4m | = |
| Stocks and contracts in progress3 | - | €0.04m | €0.03m | €0.05m | €0.04m | €0.04m | €0.2m | ▲ 356% |
| Stocks30/36 | - | - | - | €0.05m | €0.04m | €0.04m | €0.2m | ▲ 356% |
| Raw materials and consumables30/31 | - | - | - | €0.05m | - | - | - | - |
| Amounts receivable within one year40/41 | €0.1m | €0.05m | €0.1m | €0.3m | €0.4m | €0.7m | €0.4m | ▼ 44.7% |
| Trade receivables40 | - | - | - | €0.05m | €0.3m | €0.6m | €0.1m | ▼ 79.5% |
| Other amounts receivable41 | - | - | - | €0.2m | €0.1m | €0.1m | €0.3m | ▲ 107% |
| Cash at bank and in hand54/58 | €0.08m | €0.4m | €0.3m | €0.3m | €0.4m | €0.2m | €0.7m | ▲ 195% |
| Deferred charges and accrued income490/1 | - | - | - | €0.1m | €0.2m | €0.2m | €0.3m | ▲ 33.4% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €10.3m | €11.6m | €12.9m | €13.6m | €14.2m | €13.9m | €14.0m | ▲ 0.6% |
| Equity10/15 | €1.5m | €1.9m | €2.0m | €2.0m | €3.4m | €3.9m | €4.6m | ▲ 17.1% |
| Contributions10/11 | €0.5m | - | - | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Reserves13 | €1.0m | €1.4m | €1.5m | €1.5m | €2.9m | €3.5m | €4.1m | ▲ 19.4% |
| Tax-exempt reserves132 | - | - | - | €494 | €494 | €494 | €494 | = |
| Distributable reserves133 | - | - | - | €1.5m | €2.9m | €3.5m | €4.1m | ▲ 19.4% |
| Profit (loss) carried forward14 | €0.05m | €0.05m | €0.05m | €0.05m | €0 | €0 | €0 | - |
| Amounts payable17/49 | €8.7m | €9.6m | €10.8m | €11.5m | €10.8m | €10.0m | €9.4m | ▼ 6.0% |
| Amounts payable after more than one year17 | €3.4m | €3.3m | €4.5m | €5.1m | €4.6m | €4.1m | €3.7m | ▼ 11.4% |
| Financial debts170/4 | - | - | - | €5.1m | €4.6m | €4.1m | €3.7m | ▼ 11.4% |
| Credit institutions173 | - | - | - | €4.4m | - | - | - | - |
| Other loans174 | - | - | - | €0.7m | - | - | - | - |
| Amounts payable within one year42/48 | €5.2m | €6.2m | €6.3m | €6.4m | €6.1m | €5.7m | €5.5m | ▼ 3.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Financial debts43 | - | - | - | €0.2m | €0.2m | €0.1m | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | €0.2m | €0.2m | €0.1m | €0 | ▼ 100% |
| Trade debts44 | €0.04m | €0.04m | €0.3m | €0.4m | €0.04m | €0.02m | €0.06m | ▲ 215% |
| Suppliers440/4 | - | - | - | €0.4m | €0.04m | €0.02m | €0.06m | ▲ 215% |
| Advances received on contracts in progress46 | - | - | - | €100 | €100 | €100 | €0.001m | ▲ 531% |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.2m | €0.2m | €0.2m | ▲ 23.0% |
| Taxes450/3 | - | - | - | €0.02m | €0.2m | €0.2m | €0.2m | ▲ 23.0% |
| Other amounts payable47/48 | - | - | - | €5.4m | €5.2m | €4.9m | €4.7m | ▼ 3.1% |
| Accrued charges and deferred income492/3 | - | - | - | €0.03m | €0.04m | €0.2m | €0.2m | ▲ 25.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.1m | €0.4m | €0.09m | €0.05m | €1.4m | €0.5m | €0.7m | ▲ 35.0% |
| + Depreciation and write-downs630 | €0.3m | €0.2m | €0.3m | €0.3m | €0.4m | €0.3m | €0.4m | ▲ 2.9% |
| Operating cash flow (approximation) | €0.4m | €0.7m | €0.3m | €0.3m | €1.9m | €0.9m | €1.1m | ▲ 22.7% |
| Investment in fixed assets (approximation) | - | -€0.2m | -€1.6m | -€0.7m | -€0.8m | €0.02m | -€0.1m | - |
| Change in cash | - | €0.3m | -€0.1m | €0.02m | €0.1m | -€0.2m | €0.4m | - |
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, 1,579 companies had the same profile as DYNAMIC has now. Two years later, 96.7% were still going and 0.1% had gone bankrupt.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
96.7%
was still going
3.2%
stopped otherwise
0.1%
went bankrupt
That fits the bankruptcy probability of DYNAMIC 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 1,579 companies, not a prediction for DYNAMIC. 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 24 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | abbreviated format | 29-01-2026 | 2026-00018725 | |
| 30-06-2024 | abbreviated format | 28-01-2025 | 2025-00012934 | |
| 30-06-2023 | abbreviated format | 22-01-2024 | 2024-00005094 | |
| 30-06-2022 | full format | 24-01-2023 | 2023-00003164 | |
| 30-06-2021 | full format | 12-01-2022 | 2022-00900123 | |
| 30-06-2020 | full format | 26-01-2021 | 2021-01800044 | |
| 30-06-2019 | full format | 04-02-2020 | 2020-04600200 | |
| 30-06-2018 | full format | 19-12-2018 | 2018-75400381 | |
| 30-06-2017 | abbreviated format | 19-01-2018 | 2018-01900564 | |
| 30-06-2016 | abbreviated format | 25-01-2017 | 2017-02200028 |