E-OPTICS
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 29-06-2026 at the NBB all 20 filings
Equity
€179,637▲ 48.3%
2024 · €121,155
Total assets
€202,394▲ 40.5%
2024 · €144,064
Net result
€58,481▲ 997%
2024 · €5,330
Working capital
€179,637▲ 585%
2024 · €26,208
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€25,033
2025
20182025
Net result
€58,481
▲ 997%
2025
20182025
Equity
€179,637
▲ 48.3%
2025
20182025
Total assets
€202,394
▲ 40.5%
2025
20182025
Debt
€22,757
▼ 0.7%
2025
20182025
Working capital
€179,637
▲ 585%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€6,366-€11,580▲ 81.9%€27,486▲ 137%€19,071▼ 30.6%€41,548▲ 118%€5,719▼ 86.2%€8,849▲ 54.7%-€25,033
Net result€417-€6,366▲ 15×€22,848▲ 259%€14,010▼ 38.7%€25,847▲ 84.5%€2,414▼ 90.7%€5,330▲ 121%€58,481▲ 997%
Equity€44,340-€50,706▲ 14.4%€73,554▲ 45.1%€87,564▲ 19.0%€113,411▲ 29.5%€115,826▲ 2.1%€121,155▲ 4.6%€179,637▲ 48.3%
Total assets€181,755-€168,154▼ 7.5%€185,112▲ 10.1%€176,815▼ 4.5%€187,653▲ 6.1%€168,617▼ 10.1%€144,064▼ 14.6%€202,394▲ 40.5%
Debt€137,415-€117,448▼ 14.5%€111,558▼ 5.0%€89,251▼ 20.0%€74,242▼ 16.8%€52,792▼ 28.9%€22,908▼ 56.6%€22,757▼ 0.7%
Working capital€1,216--€3,662€11,873€18,680▲ 57.3%€36,883▲ 97.4%€31,121▼ 15.6%€26,208▼ 15.8%€179,637▲ 585%
The operating result for 2025 is a loss of €25,033, after a profit of €8,849 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €202,394
Equity
€179,637 ▲ 48.3%
Debt
€22,757 ▼ 0.7%
Debt's share of the balance-sheet total falls from 15.9% to 11.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
-€23,262▼
2024 · €19,004
Cash flow
€60,252▲
2024 · €15,485
Current ratio
8.89▲
2024 · 2.14
Debt to equity
0.13▼
2024 · 0.19
ROE
32.6%▲
2024 · 4.4%
ROA
28.9%▲
2024 · 3.7%
Interest coverage
-48.67▼
2024 · 10.44
Debt ≤ 1 year
€22,757▼
2024 · €22,908
Income taxes
€28,150▲
2024 · €1,777
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 | - | - | €2,957 | €2,355 | - |
| Financial fixed assets | - | €88 | €88 | - | - |
| Depreciation and write-downs of the year | €9,219 | €8,987 | €9,449 | €10,155 | €1,771 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €3,438 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,961 | €9,193 | €9,090 | €9,219 | €8,987 | €9,449 | €10,155 | €1,771 | ▼ 82.6% |
| Other operating charges640/8 | - | - | - | €2,051 | €2,427 | €2,467 | €2,477 | €2,668 | ▲ 7.7% |
| Gross operating margin9900 | €16,262 | €21,174 | €40,422 | €30,341 | €52,961 | €17,635 | €21,481 | -€20,594 | - |
| Operating profit (loss)9901 | €6,366 | €11,580 | €27,486 | €19,071 | €41,548 | €5,719 | €8,849 | -€25,033 | - |
| Financial income75/76B | - | - | - | €290 | €112 | €162 | €78 | €112,143 | ▲ 1,443× |
| Recurring financial income75 | €494 | €378 | €222 | €290 | €112 | €162 | €78 | €329 | ▲ 324% |
| Non-recurring financial income76B | - | - | - | - | - | - | - | €111,813 | - |
| Financial charges65/66B | - | - | - | €3,951 | €3,285 | €2,504 | €1,820 | €478 | ▼ 73.7% |
| Recurring financial charges65 | €6,443 | €5,592 | €4,859 | €3,951 | €3,285 | €2,504 | €1,820 | €478 | ▼ 73.7% |
| Profit (loss) for the period before taxes9903 | €417 | €6,366 | €22,848 | €15,410 | €38,374 | €3,378 | €7,106 | €86,632 | ▲ 12× |
| Income taxes67/77 | - | - | - | €1,400 | €12,527 | €963 | €1,777 | €28,150 | ▲ 16× |
| Profit (loss) for the period9904 | €417 | €6,366 | €22,848 | €14,010 | €25,847 | €2,414 | €5,330 | €58,481 | ▲ 997% |
| Profit (loss) for the period to be appropriated9905 | €417 | €6,366 | €22,848 | €14,010 | €25,847 | €2,414 | €5,330 | €58,481 | ▲ 997% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €181,755 | €168,154 | €185,112 | €176,815 | €187,653 | €168,617 | €144,064 | €202,394 | ▲ 40.5% |
| Fixed assets21/28 | €143,632 | €135,134 | €127,183 | €118,051 | €109,152 | €102,747 | €94,947 | - | - |
| Tangible fixed assets22/27 | €143,632 | €135,134 | €127,183 | €117,964 | €108,977 | €102,484 | €94,684 | - | - |
| Land and buildings22 | - | - | - | €107,205 | €100,463 | €93,720 | €86,978 | - | - |
| Plant, machinery and equipment23 | - | - | - | €10,500 | €8,400 | €6,300 | €4,200 | - | - |
| Furniture and vehicles24 | - | - | - | €259 | €114 | €2,464 | €3,507 | - | - |
| Financial fixed assets28 | - | - | - | €88 | €175 | €263 | €263 | - | - |
| Current assets29/58 | €38,123 | €33,020 | €57,929 | €58,763 | €78,501 | €65,871 | €49,117 | €202,394 | ▲ 312% |
| Stocks and contracts in progress3 | €28,438 | €29,027 | €22,853 | €23,710 | €37,631 | €32,498 | €38,890 | - | - |
| Stocks30/36 | - | - | - | €23,710 | €37,631 | €32,498 | €38,890 | - | - |
| Amounts receivable within one year40/41 | €45 | - | €698 | €998 | €1,278 | €2,401 | €3,107 | - | - |
| Trade receivables40 | - | - | - | - | - | €255 | €92 | - | - |
| Other amounts receivable41 | - | - | - | €998 | €1,278 | €2,145 | €3,016 | - | - |
| Cash at bank and in hand54/58 | €9,299 | €3,953 | €33,859 | €33,506 | €39,171 | €30,785 | €6,483 | €202,394 | ▲ 31× |
| Deferred charges and accrued income490/1 | - | - | - | €549 | €421 | €187 | €636 | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €181,755 | €168,154 | €185,112 | €176,815 | €187,653 | €168,617 | €144,064 | €202,394 | ▲ 40.5% |
| Equity10/15 | €44,340 | €50,706 | €73,554 | €87,564 | €113,411 | €115,826 | €121,155 | €179,637 | ▲ 48.3% |
| Contributions10/11 | €75,000 | €75,000 | - | €75,000 | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Contributions outside capital11 | - | - | - | €75,000 | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Other1109/19 | - | - | - | €75,000 | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Reserves13 | €4,500 | €4,500 | €4,500 | €18,500 | €44,300 | €44,300 | €44,300 | €102,780 | ▲ 132% |
| Non-distributable reserves130/1 | - | - | - | €4,500 | €4,500 | €4,500 | €4,500 | €4,500 | = |
| Reserves not available under the articles1311 | - | - | - | €4,500 | €4,500 | €4,500 | €4,500 | €4,500 | = |
| Distributable reserves133 | - | - | - | €14,000 | €39,800 | €39,800 | €39,800 | €98,280 | ▲ 147% |
| Profit (loss) carried forward14 | -€35,160 | -€28,794 | -€5,946 | -€5,936 | -€5,889 | -€3,474 | €1,855 | €1,857 | ▲ 0.1% |
| Amounts payable17/49 | €137,415 | €117,448 | €111,558 | €89,251 | €74,242 | €52,792 | €22,908 | €22,757 | ▼ 0.7% |
| Amounts payable after more than one year17 | €100,508 | €80,766 | €65,502 | €49,028 | €32,624 | €18,012 | - | - | - |
| Financial debts170/4 | - | - | - | €49,028 | €32,624 | €18,012 | - | - | - |
| Amounts payable within one year42/48 | €36,908 | €36,682 | €46,056 | €40,083 | €41,618 | €34,750 | €22,908 | €22,757 | ▼ 0.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €17,160 | €15,990 | €15,611 | €19,012 | - | - |
| Trade debts44 | €2,879 | €1,633 | €3,444 | €6,138 | €5,984 | €4,247 | €2,119 | €2,130 | ▲ 0.5% |
| Suppliers440/4 | - | - | - | €6,138 | €5,984 | €4,247 | €2,119 | €2,130 | ▲ 0.5% |
| Taxes, remuneration and social security45 | - | - | - | €2,769 | €13,422 | €14,891 | €1,777 | €11,304 | ▲ 536% |
| Taxes450/3 | - | - | - | €2,769 | €13,422 | €14,891 | €1,777 | €11,304 | ▲ 536% |
| Other amounts payable47/48 | - | - | - | €14,015 | €6,222 | - | - | €9,323 | - |
| Accrued charges and deferred income492/3 | - | - | - | €139 | - | €29 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €417 | €6,366 | €22,848 | €14,010 | €25,847 | €2,414 | €5,330 | €58,481 | ▲ 997% |
| + Depreciation and write-downs630 | €8,961 | €9,193 | €9,090 | €9,219 | €8,987 | €9,449 | €10,155 | €1,771 | ▼ 82.6% |
| Operating cash flow (approximation) | €9,378 | €15,559 | €31,939 | €23,229 | €34,834 | €11,864 | €15,485 | €60,252 | ▲ 289% |
| Investment in fixed assets (approximation) | - | -€695 | -€1,139 | -€88 | -€88 | -€3,044 | -€2,355 | - | - |
| Change in cash | - | -€5,345 | €29,905 | -€353 | €5,665 | -€8,386 | -€24,301 | €195,910 | - |
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, 31,368 companies had the same profile as E-OPTICS has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of E-OPTICS 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 31,368 companies, not a prediction for E-OPTICS. 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 | abbreviated format | 29-06-2026 | 2026-00229702 | |
| 31-12-2024 | micro format | 14-06-2025 | 2025-00141612 | |
| 31-12-2023 | micro format | 24-06-2024 | 2024-00166774 | |
| 31-12-2022 | micro format | 03-08-2023 | 2023-00314198 | |
| 31-12-2021 | micro format | 16-08-2022 | 2022-20289687 | |
| 31-12-2020 | micro format | 05-07-2021 | 2021-32000309 | |
| 31-12-2019 | micro format | 05-09-2020 | 2020-52800270 | |
| 31-12-2018 | micro format | 20-07-2019 | 2019-36300156 | |
| 31-12-2017 | micro format | 10-08-2018 | 2018-44500193 | |
| 31-12-2016 | micro format | 28-08-2017 | 2017-49000145 |