EACHSTAPP
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 29-05-2026 PDF all 5 filings
Turnover
≈ €930,000
Estimated: probably between €560,000 and €1.6m
EBIT margin
Not included in this filing
Net result
€69,463▼ 46.1%
2024 · €128,858
Working capital
€42,906▼ 71.2%
2024 · €148,963
Multi-year overview
2022 to 2025, 4 financial yearsOperating result
€110,514
▼ 38.1%
2025
20222025
Net result
€69,463
▼ 46.1%
2025
middle half of the sector
20222025
Equity
€55,996
▼ 65.6%
2025
lowest quarter of the sector
20222025
Total assets
€389,127
▲ 47.4%
2025
lowest quarter of the sector
20222025
Debt
€333,132
▲ 230%
2025
20222025
Working capital
€42,906
▼ 71.2%
2025
lowest quarter of the sector
20222025
Solvency
14.4%
▼ 47.4pp
2025
lowest quarter of the sector
20222025
Current ratio
1.13
▼ 1.35
2025
lowest quarter of the sector
20222025
Return on assets (ROA)
17.9%
▼ 31.0pp
2025
highest quarter of the sector
20222025
Staff (FTE)
6.8
▲ 127%
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€37,493-€10,116▼ 73.0%€178,610▲ 18×€110,514▼ 38.1%
Net result€28,960within the sector's middle half-€2,185below the sector's middle half▼ 92.5%€128,858above the sector's middle half▲ 59×€69,463within the sector's middle half▼ 46.1%
Equity€31,960below the sector's middle half-€34,145below the sector's middle half▲ 6.8%€163,003within the sector's middle half▲ 377%€55,996below the sector's middle half▼ 65.6%
Total assets€72,306below the sector's middle half-€110,365below the sector's middle half▲ 52.6%€263,997below the sector's middle half▲ 139%€389,127below the sector's middle half▲ 47.4%
Debt€40,346-€76,220▲ 88.9%€100,994▲ 32.5%€333,132▲ 230%
Working capital€19,281below the sector's middle half-€20,181below the sector's middle half▲ 4.7%€148,963within the sector's middle half▲ 638%€42,906below the sector's middle half▼ 71.2%
Solvency44.2%within the sector's middle half-30.9%within the sector's middle half▼ 13.3pp61.7%above the sector's middle half▲ 30.8pp14.4%below the sector's middle half▼ 47.4pp
Current ratio1.48within the sector's middle half-1.27within the sector's middle half▼ 0.212.47within the sector's middle half▲ 1.211.13below the sector's middle half▼ 1.35
Return on assets (ROA)40.1%above the sector's middle half-2.0%within the sector's middle half▼ 38.1pp48.8%above the sector's middle half▲ 46.8pp17.9%above the sector's middle half▼ 31.0pp
Staff (FTE)1below the sector's middle half-0.7below the sector's middle half▼ 30.0%3within the sector's middle half▲ 329%6.8within the sector's middle half▲ 127%
above
within
below
The sector band is the middle half of the companies in Travel agency, tour operator and other reservation service and related activities (NACE 79). 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 38% lower than in 2024.
Large changes and their cause
- 2024 Net result +5,796% on 2023. The accounts now follow the abbreviated format, last year the full format.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €389,127
Fixed assets
€13,290 ▼ 5.3%
Current assets
€375,838 ▲ 50.4%
Equity and liabilities €389,127
Equity
€55,996 ▼ 65.6%
Debt
€333,132 ▲ 230%
Debt's share of the balance-sheet total rises from 38.3% to 85.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€118,661▼
2024 · €186,120
Cash flow
€77,610▼
2024 · €136,367
Debt to equity
5.95▲
2024 · 0.62
ROE
124.1%▲
2024 · 79.1%
Interest coverage
10.87▼
2024 · 26.88
Debt ≤ 1 year
€332,932▲
2024 · €100,994
Income taxes
€30,137▼
2024 · €42,860
Staff costs
€269,234▲
2024 · €105,558
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 2 | 4 | 8 |
| full-time | 1 | 2 | 4 | 8 |
| in full-time equivalents | 1 | 2 | 4 | 8 |
| Average over the year, in full-time equivalents | 1 | 0.7 | 3 | 6.8 |
| On a permanent contract | - | 1 | 4 | 8 |
| Joined | 1 | 3 | 6 | 13 |
| Left | 0 | 2 | 4 | 9 |
| Training hours | 2 | - | - | - |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €14,917 | €8,115 | €6,808 | €7,397 |
| Depreciation and write-downs of the year | €2,239 | €6,052 | €7,510 | €8,147 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €124 | €15,407 | €105,558 | €269,234 | ▲ 155% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,239 | €6,052 | €7,510 | €8,147 | ▲ 8.5% |
| Other operating charges640/8 | - | €128 | €245 | €7,291 | ▲ 30× |
| Gross operating margin9900 | €39,855 | €31,703 | €291,923 | €395,186 | ▲ 35.4% |
| Operating profit (loss)9901 | €37,493 | €10,116 | €178,610 | €110,514 | ▼ 38.1% |
| Financial income75/76B | €60 | €2 | €32 | €0 | ▼ 99.1% |
| Recurring financial income75 | €60 | €2 | €32 | €0 | ▼ 99.1% |
| Financial charges65/66B | €243 | €3,055 | €6,924 | €10,914 | ▲ 57.6% |
| Recurring financial charges65 | €243 | €3,055 | €6,924 | €10,914 | ▲ 57.6% |
| Profit (loss) for the period before taxes9903 | €37,310 | €7,063 | €171,718 | €99,600 | ▼ 42.0% |
| Income taxes67/77 | €8,350 | €4,877 | €42,860 | €30,137 | ▼ 29.7% |
| Profit (loss) for the period9904 | €28,960 | €2,185 | €128,858 | €69,463 | ▼ 46.1% |
| Profit (loss) for the period to be appropriated9905 | €28,960 | €2,185 | €128,858 | €69,463 | ▼ 46.1% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €72,306 | €110,365 | €263,997 | €389,127 | ▲ 47.4% |
| Fixed assets21/28 | €12,678 | €14,742 | €14,040 | €13,290 | ▼ 5.3% |
| Tangible fixed assets22/27 | €12,678 | €14,742 | €14,040 | €13,290 | ▼ 5.3% |
| Furniture and vehicles24 | €12,678 | €14,742 | €14,040 | €13,290 | ▼ 5.3% |
| Current assets29/58 | €59,628 | €95,623 | €249,957 | €375,838 | ▲ 50.4% |
| Amounts receivable within one year40/41 | €5,781 | €73,015 | €80,966 | €193,600 | ▲ 139% |
| Trade receivables40 | €5,781 | €73,015 | €80,960 | €185,849 | ▲ 130% |
| Other amounts receivable41 | - | - | €6 | €7,751 | ▲ 1,290× |
| Cash at bank and in hand54/58 | €52,981 | €17,670 | €148,462 | €151,134 | ▲ 1.8% |
| Deferred charges and accrued income490/1 | €866 | €4,938 | €20,529 | €31,104 | ▲ 51.5% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €72,306 | €110,365 | €263,997 | €389,127 | ▲ 47.4% |
| Equity10/15 | €31,960 | €34,145 | €163,003 | €55,996 | ▼ 65.6% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Profit (loss) carried forward14 | €28,960 | €31,145 | €160,003 | €52,996 | ▼ 66.9% |
| Amounts payable17/49 | €40,346 | €76,220 | €100,994 | €333,132 | ▲ 230% |
| Amounts payable within one year42/48 | €40,346 | €75,442 | €100,994 | €332,932 | ▲ 230% |
| Trade debts44 | €8,009 | €6,318 | €5,888 | €17,268 | ▲ 193% |
| Suppliers440/4 | €8,009 | €6,318 | €5,888 | €17,268 | ▲ 193% |
| Advances received on contracts in progress46 | - | €4,900 | - | - | - |
| Taxes, remuneration and social security45 | €21,094 | €47,402 | €88,276 | €133,762 | ▲ 51.5% |
| Taxes450/3 | €17,609 | €29,554 | €72,328 | €98,757 | ▲ 36.5% |
| Remuneration and social security454/9 | €3,484 | €17,848 | €15,948 | €35,005 | ▲ 119% |
| Other amounts payable47/48 | €11,244 | €16,822 | €6,830 | €181,901 | ▲ 27× |
| Accrued charges and deferred income492/3 | - | €778 | - | €200 | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €28,960 | €2,185 | €128,858 | €69,463 | ▼ 46.1% |
| + Depreciation and write-downs630 | €2,239 | €6,052 | €7,510 | €8,147 | ▲ 8.5% |
| Operating cash flow (approximation) | €31,199 | €8,238 | €136,367 | €77,610 | ▼ 43.1% |
| Investment in fixed assets (approximation) | - | -€8,115 | -€6,808 | -€7,397 | ▼ 8.6% |
| Change in cash | - | -€35,310 | €130,791 | €2,672 | ▼ 98.0% |
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, 7,976 companies had the same profile as EACHSTAPP has now. Two years later, 94.4% were still going and 3.6% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
94.4%
was still going
1.8%
stopped otherwise
3.6%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of EACHSTAPP itself: 1.6% 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 7,976 companies, not a prediction for EACHSTAPP. 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.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 29-05-2026 | 2026-00127373 | |
| 31-12-2024 | abbreviated format | 20-08-2025 | 2025-00387630 | |
| 31-12-2024 | full format | 31-07-2025 | 2025-00347931 | |
| 31-12-2023 | full format | 25-07-2024 | 2024-00284694 | |
| 31-12-2022 | full format | 04-08-2023 | 2023-00317355 |