DYNAMO
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 24-07-2026 at the NBB all 20 filings
Turnover
≈ €990,000
Estimated: probably between €940,000 and €1.1m
EBIT margin
Not included in this filing
Net result
-€639▲ 95.1%
2024 · -€12,999
Working capital
€149,103▲ 18.8%
2024 · €125,560
In the rankings
#9 oldest company in Vorst, Health and social work sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€875
▲ 93.4%
2025
20182025
Net result
-€639
▲ 95.1%
2025
middle half of the sector
20182025
Equity
€178,888
▼ 3.5%
2025
middle half of the sector
20182025
Total assets
€325,917
▼ 3.1%
2025
lowest quarter of the sector
20182025
Debt
€147,029
▼ 2.6%
2025
20182025
Working capital
€149,103
▲ 18.8%
2025
middle half of the sector
20182025
Solvency
54.9%
▼ 0.2pp
2025
middle half of the sector
20182025
Current ratio
2.18
▲ 0.34
2025
middle half of the sector
20182025
Return on assets (ROA)
-0.2%
▲ 3.7pp
2025
middle half of the sector
20182025
Staff (FTE)
10.5
▼ 2.8%
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€414--€6,056-€25,657▼ 324%-€4,746▲ 81.5%€6,773€7,101▲ 4.8%-€13,168-€875▲ 93.4%
Net result€29,058--€4,923-€26,093below the sector's middle half▼ 430%-€5,065within the sector's middle half▲ 80.6%€6,657within the sector's middle half€7,282within the sector's middle half▲ 9.4%-€12,999below the sector's middle half-€639within the sector's middle half▲ 95.1%
Equity€195,794-€190,721▼ 2.6%€172,978within the sector's middle half▼ 9.3%€166,263within the sector's middle half▼ 3.9%€171,270within the sector's middle half▲ 3.0%€185,402within the sector's middle half▲ 8.3%€185,308within the sector's middle half▼ 0.1%€178,888within the sector's middle half▼ 3.5%
Total assets€479,628-€514,323▲ 7.2%€430,984within the sector's middle half▼ 16.2%€439,192within the sector's middle half▲ 1.9%€333,156below the sector's middle half▼ 24.1%€305,168below the sector's middle half▼ 8.4%€336,187below the sector's middle half▲ 10.2%€325,917below the sector's middle half▼ 3.1%
Debt€283,834-€323,602▲ 14.0%€258,006▼ 20.3%€272,929▲ 5.8%€161,886▼ 40.7%€119,766▼ 26.0%€150,879▲ 26.0%€147,029▼ 2.6%
Working capital€224,461-€271,008▲ 20.7%€142,960within the sector's middle half▼ 47.2%€209,316within the sector's middle half▲ 46.4%€176,720within the sector's middle half▼ 15.6%€151,824within the sector's middle half▼ 14.1%€125,560within the sector's middle half▼ 17.3%€149,103within the sector's middle half▲ 18.8%
Solvency40.8%-37.1%▼ 3.7pp40.1%within the sector's middle half▲ 3.1pp37.9%within the sector's middle half▼ 2.3pp51.4%within the sector's middle half▲ 13.6pp60.8%within the sector's middle half▲ 9.3pp55.1%within the sector's middle half▼ 5.6pp54.9%within the sector's middle half▼ 0.2pp
Current ratio2.08-2.38▲ 0.301.60within the sector's middle half▼ 0.782.10within the sector's middle half▲ 0.502.40within the sector's middle half▲ 0.302.29within the sector's middle half▼ 0.111.84within the sector's middle half▼ 0.452.18within the sector's middle half▲ 0.34
Return on assets (ROA)6.1%--1.0%▼ 7.0pp-6.1%below the sector's middle half▼ 5.1pp-1.2%below the sector's middle half▲ 4.9pp2.0%within the sector's middle half▲ 3.2pp2.4%within the sector's middle half▲ 0.4pp-3.9%below the sector's middle half▼ 6.3pp-0.2%within the sector's middle half▲ 3.7pp
Staff (FTE)10.9-10.6▼ 2.8%12within the sector's middle half▲ 13.2%11.2within the sector's middle half▼ 6.7%11.9within the sector's middle half▲ 6.3%10.9within the sector's middle half▼ 8.4%10.8within the sector's middle half▼ 0.9%10.5within the sector's middle half▼ 2.8%
above
within
below
The sector band is the middle half of the companies in Social work activities without accommodation (NACE 88). 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 loss of €875, smaller than the loss of €13,168 in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €325,917
Fixed assets
€50,464 ▼ 18.6%
Current assets
€275,453 ▲ 0.5%
Equity and liabilities €325,917
Equity
€178,888 ▼ 3.5%
Debt
€147,029 ▼ 2.6%
Debt's share of the balance-sheet total rises from 44.9% to 45.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€10,696▲
2024 · -€583
Cash flow
€10,932▲
2024 · -€414
Debt to equity
0.82▲
2024 · 0.81
ROE
-0.4%▲
2024 · -7.0%
Interest coverage
over 100▲
2024 · -7.99
Debt ≤ 1 year
€126,350▼
2024 · €148,596
Staff costs
€833,156▲
2024 · €814,858
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 | - | - | €10,053 | €38,750 | - |
| Financial fixed assets | - | - | €3 | €3 | €4 |
| Depreciation and write-downs of the year | €9,880 | €9,426 | €4,308 | €12,585 | €11,571 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Wallonia-Brussels Federation
2021 to 2025 · 22 entries · €2.1m in total| Year | Entries | Paid |
|---|---|---|
| 2025 | 13 | €592,481 |
| 2024 | 2 | €570,477 |
| 2023 | 3 | €558,307 |
| 2022 | 2 | €414,385 |
| 2021 | 2 | €14,101 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Membership fees, donations, legacies and grants73 | - | - | - | €775,983 | - | - | - | - | - |
| Non-recurring operating income76A | - | - | - | - | - | - | €11,081 | €9 | ▼ 99.9% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €86,522 | - | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €691,065 | €791,212 | €812,272 | €814,858 | €833,156 | ▲ 2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,721 | €9,181 | €9,881 | €9,880 | €9,426 | €4,308 | €12,585 | €11,571 | ▼ 8.1% |
| Other operating charges640/8 | - | - | - | €2,083 | €1,205 | €1,376 | €2,382 | €548 | ▼ 77.0% |
| Non-recurring operating charges66A | - | - | - | €1 | - | €375 | €3 | €232 | ▲ 77× |
| Gross operating margin9900 | €623,217 | €631,040 | €721,055 | €698,283 | €808,616 | €825,432 | €816,660 | €844,632 | ▲ 3.4% |
| Operating profit (loss)9901 | €414 | -€6,056 | -€25,657 | -€4,746 | €6,773 | €7,101 | -€13,168 | -€875 | ▲ 93.4% |
| Financial income75/76B | - | - | - | €115 | €210 | €367 | €242 | €297 | ▲ 22.7% |
| Recurring financial income75 | €1,136 | €2,026 | €121 | €115 | €210 | €367 | €242 | €297 | ▲ 22.7% |
| Financial charges65/66B | - | - | - | €434 | €326 | €186 | €73 | €61 | ▼ 16.4% |
| Recurring financial charges65 | €787 | €674 | €557 | €434 | €326 | €186 | €73 | €61 | ▼ 16.4% |
| Profit (loss) for the period before taxes9903 | €763 | -€4,704 | -€26,093 | -€5,065 | €6,657 | €7,282 | -€12,999 | -€639 | ▲ 95.1% |
| Profit (loss) for the period9904 | €29,058 | -€4,923 | -€26,093 | -€5,065 | €6,657 | €7,282 | -€12,999 | -€639 | ▲ 95.1% |
| Profit (loss) for the period to be appropriated9905 | €29,058 | -€4,923 | -€26,093 | -€5,065 | €6,657 | €7,282 | -€12,999 | -€639 | ▲ 95.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €479,628 | €514,323 | €430,984 | €439,192 | €333,156 | €305,168 | €336,187 | €325,917 | ▼ 3.1% |
| Fixed assets21/28 | €48,145 | €46,831 | €49,421 | €39,541 | €30,115 | €35,863 | €62,031 | €50,464 | ▼ 18.6% |
| Tangible fixed assets22/27 | €47,618 | €46,304 | €48,894 | €39,014 | €29,588 | €35,333 | €61,498 | €49,927 | ▼ 18.8% |
| Land and buildings22 | - | - | - | €15,063 | €14,282 | €13,502 | €12,721 | €11,940 | ▼ 6.1% |
| Plant, machinery and equipment23 | - | - | - | €23,951 | €15,306 | €13,331 | €16,301 | €13,630 | ▼ 16.4% |
| Furniture and vehicles24 | - | - | - | - | - | - | €32,476 | €24,357 | ▼ 25.0% |
| Assets under construction and advance payments27 | - | - | - | - | - | €8,500 | - | - | - |
| Financial fixed assets28 | €527 | €527 | €527 | €527 | €527 | €530 | €533 | €537 | ▲ 0.8% |
| Current assets29/58 | €431,483 | €467,492 | €381,563 | €399,651 | €303,041 | €269,305 | €274,156 | €275,453 | ▲ 0.5% |
| Amounts receivable within one year40/41 | €134,905 | €110,117 | €75,588 | €113,224 | €111,643 | €97,939 | €90,869 | €104,564 | ▲ 15.1% |
| Trade receivables40 | - | - | - | - | - | - | - | €195 | - |
| Other amounts receivable41 | - | - | - | €113,224 | €111,643 | €97,939 | €90,869 | €104,369 | ▲ 14.9% |
| Current investments50/53 | €150,000 | €150,000 | €150,000 | €150,000 | €150,000 | €100,000 | €100,000 | €100,000 | = |
| Cash at bank and in hand54/58 | €144,399 | €204,400 | €148,705 | €125,923 | €36,869 | €62,274 | €78,869 | €66,337 | ▼ 15.9% |
| Deferred charges and accrued income490/1 | - | - | - | €10,504 | €4,529 | €9,092 | €4,418 | €4,552 | ▲ 3.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €479,628 | €514,323 | €430,984 | €439,192 | €333,156 | €305,168 | €336,187 | €325,917 | ▼ 3.1% |
| Equity10/15 | €195,794 | €190,721 | €172,978 | €166,263 | €171,270 | €185,402 | €185,308 | €178,888 | ▼ 3.5% |
| Profit (loss) carried forward14 | €184,794 | €179,871 | €163,778 | €158,713 | €165,370 | €172,652 | €159,653 | €159,014 | ▼ 0.4% |
| Investment grants15 | - | - | - | €7,550 | €5,900 | €12,750 | €25,655 | €19,874 | ▼ 22.5% |
| Amounts payable17/49 | €283,834 | €323,602 | €258,006 | €272,929 | €161,886 | €119,766 | €150,879 | €147,029 | ▼ 2.6% |
| Amounts payable after more than one year17 | €16,617 | €12,647 | €8,557 | €4,342 | - | - | - | - | - |
| Financial debts170/4 | - | - | - | €4,342 | - | - | - | - | - |
| Amounts payable within one year42/48 | €207,022 | €196,484 | €238,603 | €190,335 | €126,321 | €117,481 | €148,596 | €126,350 | ▼ 15.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €4,215 | €4,342 | - | - | - | - |
| Trade debts44 | €2,181 | €3,155 | €4,254 | €2,957 | €10,606 | €3,799 | €4,918 | €3,424 | ▼ 30.4% |
| Suppliers440/4 | - | - | - | €2,957 | €10,606 | €3,799 | €4,918 | €3,424 | ▼ 30.4% |
| Taxes, remuneration and social security45 | - | - | - | €68,260 | €104,465 | €98,374 | €97,429 | €99,166 | ▲ 1.8% |
| Taxes450/3 | - | - | - | €13,255 | €22,643 | €17,451 | €18,228 | €18,044 | ▼ 1.0% |
| Remuneration and social security454/9 | - | - | - | €55,005 | €81,822 | €80,923 | €79,201 | €81,122 | ▲ 2.4% |
| Accrued charges and deferred income492/3 | - | - | - | €78,252 | €35,565 | €2,285 | €2,283 | €20,679 | ▲ 806% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €29,058 | -€4,923 | -€26,093 | -€5,065 | €6,657 | €7,282 | -€12,999 | -€639 | ▲ 95.1% |
| + Depreciation and write-downs630 | €13,721 | €9,181 | €9,881 | €9,880 | €9,426 | €4,308 | €12,585 | €11,571 | ▼ 8.1% |
| Operating cash flow (approximation) | €42,779 | €4,258 | -€16,212 | €4,815 | €16,083 | €11,590 | -€414 | €10,932 | - |
| Investment in fixed assets (approximation) | - | -€7,867 | -€12,471 | €0 | €0 | -€10,056 | -€38,753 | -€4 | ▲ 100.0% |
| Change in cash | - | €60,001 | -€55,695 | -€22,782 | -€89,054 | €25,405 | €16,595 | -€12,532 | - |
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, 8,617 companies had the same profile as DYNAMO has now. Two years later, 94.1% were still going and 0.4% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
94.1%
was still going
5.2%
stopped otherwise
0.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of DYNAMO 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 8,617 companies, not a prediction for DYNAMO. 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 20 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 24-07-2026 | 2026-00344097 | |
| 31-12-2024 | full format | 30-06-2025 | 2025-00202785 | |
| 31-12-2023 | full format | 25-06-2024 | 2024-00165664 | |
| 31-12-2022 | full format | 19-06-2023 | 2023-00145134 | |
| 31-12-2021 | full format | 21-06-2022 | 2022-20082319 | |
| 31-12-2020 | full format | 30-06-2021 | 2021-28500521 | |
| 31-12-2019 | full format | 23-06-2020 | 2020-19800487 | |
| 31-12-2018 | full format | 26-06-2019 | 2019-23400275 | |
| 31-12-2017 | full format | 12-06-2018 | 2018-17800436 | |
| 31-12-2016 | full format | 10-07-2017 | 2017-29900182 |