EB Pools
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00494810.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 7 filings
Turnover
≈ €840,000
Estimated: probably between €560,000 and €1.5m
Total assets
€661,482▼ 40.5%
2024 · €1.1m
Net result
€71,119▼ 76.1%
2024 · €298,175
Working capital
€88,767
2024 · -€17,294
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€103,980
▼ 73.9%
2025
20192025
Net result
€71,119
▼ 76.1%
2025
highest quarter of the sector
20192025
Equity
€145,891
▲ 95.1%
2025
highest quarter of the sector
20192025
Total assets
€661,482
▼ 40.5%
2025
highest quarter of the sector
20192025
Debt
€515,591
▼ 50.3%
2025
20192025
Working capital
€88,767
2025
middle half of the sector
20192025
Solvency
22.1%
▲ 15.3pp
2025
lowest quarter of the sector
20192025
Current ratio
1.21
▲ 0.22
2025
middle half of the sector
20192025
Return on assets (ROA)
10.8%
▼ 16.1pp
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
Operating result€0.05m-€0.7m▲ 15×€1.5m▲ 110%€1.0m▼ 31.3%€0.3m▼ 68.1%€0.4m▲ 20.5%€0.1m▼ 73.9%
Net result€0.04m-€0.5mabove the sector's middle half▲ 12×€1.1mabove the sector's middle half▲ 121%€0.8mabove the sector's middle half▼ 31.5%€0.3mabove the sector's middle half▼ 67.6%€0.3mabove the sector's middle half▲ 18.3%€0.07mabove the sector's middle half▼ 76.1%
Equity€0.06m-€0.6mabove the sector's middle half▲ 856%€1.7mabove the sector's middle half▲ 198%€0.2mwithin the sector's middle half▼ 89.2%€0.4mabove the sector's middle half▲ 137%€0.07mwithin the sector's middle half▼ 82.9%€0.1mabove the sector's middle half▲ 95.1%
Total assets€0.1m-€0.9mabove the sector's middle half▲ 695%€2.5mabove the sector's middle half▲ 165%€2.1mabove the sector's middle half▼ 15.8%€1.2mabove the sector's middle half▼ 42.7%€1.1mabove the sector's middle half▼ 6.7%€0.7mabove the sector's middle half▼ 40.5%
Debt€0.06m-€0.4m▲ 528%€0.8m▲ 113%€1.9m▲ 148%€0.8m▼ 60.2%€1.0m▲ 37.4%€0.5m▼ 50.3%
Working capital€0.03m-€0.5mabove the sector's middle half▲ 16×€1.7mabove the sector's middle half▲ 234%€0.1mwithin the sector's middle half▼ 91.3%€0.4mabove the sector's middle half▲ 142%-€0.02mbelow the sector's middle half€0.09mwithin the sector's middle half
Solvency51.1%-61.4%within the sector's middle half▲ 10.3pp69.1%above the sector's middle half▲ 7.7pp8.9%below the sector's middle half▼ 60.2pp36.6%within the sector's middle half▲ 27.8pp6.7%below the sector's middle half▼ 29.9pp22.1%below the sector's middle half▲ 15.3pp
Current ratio1.56-2.41within the sector's middle half▲ 0.863.28above the sector's middle half▲ 0.861.08below the sector's middle half▼ 2.201.47within the sector's middle half▲ 0.390.98below the sector's middle half▼ 0.491.21within the sector's middle half▲ 0.22
Return on assets (ROA)35.2%-55.2%above the sector's middle half▲ 20.0pp45.9%above the sector's middle half▼ 9.3pp37.4%above the sector's middle half▼ 8.6pp21.2%above the sector's middle half▼ 16.2pp26.8%above the sector's middle half▲ 5.7pp10.8%within the sector's middle half▼ 16.1pp
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 74% lower than in 2024 and the lowest since 2021.
Large changes and their cause
- 2023 Net result -68% on 2022. The accounts now follow the micro format, last year the abbreviated format.
- 2021 Net result +121% on 2020. The accounts now follow the abbreviated format, last year the micro format.
Turnover and EBIT margin are not published. The abbreviated or 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 €661,482
Fixed assets
€142,596 ▼ 26.7%
Current assets
€518,886 ▼ 43.4%
Equity and liabilities €661,482
Equity
€145,891 ▲ 95.1%
Debt
€515,591 ▼ 50.3%
Debt's share of the balance-sheet total falls from 93.3% to 77.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€155,880▼
2024 · €442,430
Cash flow
€123,019▼
2024 · €342,935
Quick ratio
0.27▼
2024 · 0.41
Debt to equity
3.53▼
2024 · 13.87
ROE
48.7%▼
2024 · 398.8%
Interest coverage
34.25▼
2024 · over 100
Debt ≤ 1 year
€430,119▼
2024 · €934,850
Debt > 1 year
€85,473▼
2024 · €102,430
Income taxes
€30,744▼
2024 · €95,691
Staff costs
€46,505
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 | €3,830 | €23,049 | €66,204 | €157,156 | - |
| Financial fixed assets | - | €2,154 | €4,500 | - | - |
| Depreciation and write-downs of the year | €20,908 | €18,655 | €18,393 | €44,760 | €51,900 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €1,254 awarded · €1,254 paidSchemes
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | - | - | €2.1m | €1.8m | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | - | €0.001m | - | €0.05m | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.007m | €0.01m | €0.02m | €0.02m | €0.02m | €0.04m | €0.05m | ▲ 16.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.01m | - | €0.04m | - | - |
| Other operating charges640/8 | - | - | €0.003m | €0.002m | €0.002m | €0.003m | €0.002m | ▼ 25.1% |
| Gross operating margin9900 | €0.06m | €0.7m | €1.5m | €1.1m | €0.4m | €0.5m | €0.2m | ▼ 58.1% |
| Operating profit (loss)9901 | €0.05m | €0.7m | €1.5m | €1.0m | €0.3m | €0.4m | €0.1m | ▼ 73.9% |
| Financial income75/76B | - | - | €0.006m | €0.01m | €230 | €184 | €0.002m | ▲ 13× |
| Recurring financial income75 | €190 | €229 | €0.006m | €0.01m | €230 | €184 | €0.002m | ▲ 13× |
| Financial charges65/66B | - | - | €0.002m | €0.001m | €0.001m | €0.004m | €0.005m | ▲ 14.1% |
| Recurring financial charges65 | €0.001m | €0.001m | €0.002m | €0.001m | €0.001m | €0.004m | €0.005m | ▲ 14.1% |
| Profit (loss) for the period before taxes9903 | €0.05m | €0.7m | €1.5m | €1.0m | €0.3m | €0.4m | €0.1m | ▼ 74.1% |
| Income taxes67/77 | €0.006m | €0.2m | €0.4m | €0.3m | €0.08m | €0.1m | €0.03m | ▼ 67.9% |
| Profit (loss) for the period9904 | €0.04m | €0.5m | €1.1m | €0.8m | €0.3m | €0.3m | €0.07m | ▼ 76.1% |
| Profit (loss) for the period to be appropriated9905 | €0.04m | €0.5m | €1.1m | €0.8m | €0.3m | €0.3m | €0.07m | ▼ 76.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.1m | €0.9m | €2.5m | €2.1m | €1.2m | €1.1m | €0.7m | ▼ 40.5% |
| Fixed assets21/28 | €0.03m | €0.07m | €0.05m | €0.06m | €0.08m | €0.2m | €0.1m | ▼ 26.7% |
| Tangible fixed assets22/27 | €0.03m | €0.07m | €0.05m | €0.05m | €0.08m | €0.2m | €0.1m | ▼ 27.3% |
| Plant, machinery and equipment23 | - | - | €0.02m | €0.03m | €0.03m | €0.04m | €0.03m | ▼ 32.5% |
| Furniture and vehicles24 | - | - | €0.005m | €0.003m | €0.04m | €0.03m | €0.02m | ▼ 32.9% |
| Leasing and similar rights25 | - | - | €0.03m | €0.02m | - | €0.1m | €0.08m | ▼ 23.5% |
| Other tangible fixed assets26 | - | - | - | - | €0.007m | €0.005m | €0.003m | ▼ 32.2% |
| Financial fixed assets28 | €450 | €450 | - | €0.002m | €0.007m | €0.005m | €0.005m | = |
| Current assets29/58 | €0.09m | €0.9m | €2.4m | €2.0m | €1.1m | €0.9m | €0.5m | ▼ 43.4% |
| Stocks and contracts in progress3 | - | - | €0.4m | €0.6m | €0.6m | €0.5m | €0.4m | ▼ 24.0% |
| Stocks30/36 | - | - | €0.4m | €0.6m | €0.6m | €0.5m | €0.4m | ▼ 24.0% |
| Amounts receivable within one year40/41 | €0.03m | €0.07m | €0.1m | €0.08m | €0.1m | €0.3m | €0.1m | ▼ 57.8% |
| Trade receivables40 | - | - | €0.1m | €0.03m | €0.08m | €0.2m | €0.1m | ▼ 61.2% |
| Other amounts receivable41 | - | - | €0.01m | €0.05m | €0.06m | €0.004m | €0.01m | ▲ 139% |
| Current investments50/53 | - | - | €1.0m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Cash at bank and in hand54/58 | €0.06m | €0.8m | €0.9m | €1.3m | €0.3m | €0.1m | €0.006m | ▼ 95.2% |
| Deferred charges and accrued income490/1 | - | - | €0.001m | €0.001m | - | €0.001m | €0.001m | ▲ 3.4% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.1m | €0.9m | €2.5m | €2.1m | €1.2m | €1.1m | €0.7m | ▼ 40.5% |
| Equity10/15 | €0.06m | €0.6m | €1.7m | €0.2m | €0.4m | €0.07m | €0.1m | ▲ 95.1% |
| Contributions10/11 | €0.02m | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.002m | €0.3m | €0.3m | - | €0.4m | €0.06m | €0.1m | ▲ 127% |
| Distributable reserves133 | - | - | €0.3m | - | €0.4m | €0.06m | €0.1m | ▲ 127% |
| Profit (loss) carried forward14 | €0.04m | €0.3m | €1.4m | €0.2m | €0.003m | €0.001m | €0.002m | ▲ 95.4% |
| Amounts payable17/49 | €0.06m | €0.4m | €0.8m | €1.9m | €0.8m | €1.0m | €0.5m | ▼ 50.3% |
| Amounts payable after more than one year17 | - | €0.003m | €0.03m | €0.02m | - | €0.1m | €0.09m | ▼ 16.6% |
| Financial debts170/4 | - | - | €0.03m | €0.02m | - | €0.1m | €0.09m | ▼ 16.6% |
| Amounts payable within one year42/48 | €0.06m | €0.4m | €0.7m | €1.9m | €0.8m | €0.9m | €0.4m | ▼ 54.0% |
| Current portion of amounts payable after more than one year42 | - | - | €0.009m | €0.01m | €0.001m | €0.02m | €0.02m | ▲ 4.1% |
| Trade debts44 | €0.03m | €0.1m | €0.03m | €0.2m | €0.05m | €0.2m | €0.03m | ▼ 86.9% |
| Suppliers440/4 | - | - | €0.03m | €0.2m | €0.05m | €0.2m | €0.03m | ▼ 86.9% |
| Advances received on contracts in progress46 | - | - | - | €0.01m | - | €0.04m | - | - |
| Taxes, remuneration and social security45 | - | - | €0.7m | €0.4m | €0.004m | €0.001m | €0.009m | ▲ 685% |
| Taxes450/3 | - | - | €0.7m | €0.4m | €0.004m | €0.001m | €0.005m | ▲ 358% |
| Remuneration and social security454/9 | - | - | €0.001m | - | - | - | €0.004m | - |
| Other amounts payable47/48 | - | - | €0.001m | €1.3m | €0.7m | €0.7m | €0.4m | ▼ 45.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.04m | €0.5m | €1.1m | €0.8m | €0.3m | €0.3m | €0.07m | ▼ 76.1% |
| + Depreciation and write-downs630 | €0.007m | €0.01m | €0.02m | €0.02m | €0.02m | €0.04m | €0.05m | ▲ 16.0% |
| Operating cash flow (approximation) | €0.05m | €0.5m | €1.2m | €0.8m | €0.3m | €0.3m | €0.1m | ▼ 64.1% |
| Investment in fixed assets (approximation) | - | -€0.06m | -€0.003m | -€0.02m | -€0.05m | -€0.2m | €0 | - |
| Change in cash | - | €0.7m | €0.1m | €0.4m | -€1.0m | -€0.2m | -€0.1m | ▲ 37.6% |
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, 2,684 companies had the same profile as EB Pools has now. Two years later, 97.3% were still going and 1.3% had gone bankrupt.
- Small
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
97.3%
was still going
1.2%
stopped otherwise
1.3%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of EB Pools itself: 1.3% 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 2,684 companies, not a prediction for EB Pools. 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 (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00494810 | |
| 31-12-2024 | micro format | 21-08-2025 | 2025-00401192 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00435560 | |
| 31-12-2022 | abbreviated format | 31-08-2023 | 2023-00392494 | |
| 31-12-2021 | abbreviated format | 31-08-2022 | 2022-20366509 | |
| 31-12-2020 | micro format | 27-08-2021 | 2021-54500247 | |
| 31-12-2019 | micro format | 02-09-2020 | 2020-49400109 |