EDOUMAR
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 29-07-2026 at the NBB all 4 filings
Turnover
€22,484
EBIT margin
Not meaningful: turnover is only a small part of operating income
Net result
-€51,265▼ 17.3%
2024 · -€43,688
Working capital
-€68,634▼ 175%
2024 · -€24,990
Multi-year overview
2022 to 2025, 4 financial yearsTurnover
no figure
2025
20222025
Operating result
-€50,113
▼ 22.9%
2025
20222025
Net result
-€51,265
▼ 17.3%
2025
lowest quarter of the sector
20222025
Equity
-€30,410
2025
lowest quarter of the sector
20222025
Total assets
€45,358
▼ 32.4%
2025
middle half of the sector
20222025
Debt
€75,769
▲ 64.0%
2025
20222025
Working capital
-€68,634
▼ 175%
2025
lowest quarter of the sector
20222025
Solvency
-67.0%
▼ 98.1pp
2025
lowest quarter of the sector
20222025
Current ratio
0.09
▼ 0.37
2025
lowest quarter of the sector
20222025
Return on assets (ROA)
-113.0%
▼ 47.9pp
2025
lowest quarter of the sector
20222025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Turnover€22,484
Operating result-€14,748-€101,438-€40,762-€50,113▼ 22.9%
Net result-€15,728below the sector's middle half-€75,270within the sector's middle half-€43,688below the sector's middle half-€51,265below the sector's middle half▼ 17.3%
Equity-€10,728below the sector's middle half-€64,542within the sector's middle half€20,854within the sector's middle half▼ 67.7%-€30,410below the sector's middle half
Total assets€73,251below the sector's middle half-€341,723within the sector's middle half▲ 367%€67,067within the sector's middle half▼ 80.4%€45,358within the sector's middle half▼ 32.4%
Debt€83,978-€277,180▲ 230%€46,212▼ 83.3%€75,769▲ 64.0%
Working capital-€16,211within the sector's middle half-€64,542within the sector's middle half-€24,990below the sector's middle half-€68,634below the sector's middle half▼ 175%
Solvency-14.6%below the sector's middle half-18.9%within the sector's middle half▲ 33.5pp31.1%within the sector's middle half▲ 12.2pp-67.0%below the sector's middle half▼ 98.1pp
Current ratio0.80within the sector's middle half-1.23within the sector's middle half▲ 0.430.46below the sector's middle half▼ 0.770.09below the sector's middle half▼ 0.37
Return on assets (ROA)-21.5%below the sector's middle half-22.0%above the sector's middle half▲ 43.5pp-65.1%below the sector's middle half▼ 87.2pp-113.0%below the sector's middle half▼ 47.9pp
above
within
below
The sector band is the middle half of the companies in Personal service activities (NACE 96). 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 €50,113, larger than the loss of €40,762 in 2024. It is the lowest result since 2022.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €45,358
Fixed assets
€38,223 ▼ 16.6%
Current assets
€7,135 ▼ 66.4%
Equity and liabilities
Equity-€30,410
Debt€75,769
Equity is negative. Debt (€75,769) exceeds the balance-sheet total (€45,358).
Key figures and ratios
EBITDA
-€42,492▼
2024 · -€36,703
Cash flow
-€43,643▼
2024 · -€39,629
Quick ratio
0.03▼
2024 · 0.46
Interest coverage
-36.85▼
2024 · -12.53
Debt ≤ 1 year
€75,769▲
2024 · €46,212
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €5,692 | - | €49,904 | - |
| Financial fixed assets | €750 | - | - | - |
| Depreciation and write-downs of the year | €3 | - | €4,059 | €7,621 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €1,155 awarded · €1,155 paidAnnual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Turnover70 | - | - | €22,484 | - | - |
| Non-recurring operating income76A | €148 | €26,687 | €0 | €59 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | €53,982 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3 | - | €4,059 | €7,621 | ▲ 87.8% |
| Other operating charges640/8 | €889 | €581 | €4,116 | €610 | ▼ 85.2% |
| Non-recurring operating charges66A | - | - | €1,113 | €0 | ▼ 100% |
| Gross operating margin9900 | -€13,856 | €102,019 | -€31,474 | -€41,882 | ▼ 33.1% |
| Operating profit (loss)9901 | -€14,748 | €101,438 | -€40,762 | -€50,113 | ▼ 22.9% |
| Financial income75/76B | €68 | €421 | €4 | €1 | ▼ 65.3% |
| Recurring financial income75 | €68 | €421 | €4 | €1 | ▼ 65.3% |
| Financial charges65/66B | €1,047 | €6,596 | €2,930 | €1,153 | ▼ 60.6% |
| Recurring financial charges65 | €1,047 | €6,596 | €2,930 | €1,153 | ▼ 60.6% |
| Profit (loss) for the period before taxes9903 | -€15,728 | €95,262 | -€43,688 | -€51,265 | ▼ 17.3% |
| Income taxes67/77 | - | €19,992 | €0 | - | - |
| Profit (loss) for the period9904 | -€15,728 | €75,270 | -€43,688 | -€51,265 | ▼ 17.3% |
| Profit (loss) for the period to be appropriated9905 | -€15,728 | €75,270 | -€43,688 | -€51,265 | ▼ 17.3% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €73,251 | €341,723 | €67,067 | €45,358 | ▼ 32.4% |
| Fixed assets21/28 | €6,439 | - | €45,844 | €38,223 | ▼ 16.6% |
| Tangible fixed assets22/27 | €5,689 | - | €45,844 | €38,223 | ▼ 16.6% |
| Plant, machinery and equipment23 | €5,689 | - | €3,882 | €3,462 | ▼ 10.8% |
| Furniture and vehicles24 | - | - | €17,700 | €13,296 | ▼ 24.9% |
| Other tangible fixed assets26 | - | - | €24,263 | €21,465 | ▼ 11.5% |
| Financial fixed assets28 | €750 | - | - | - | - |
| Current assets29/58 | €66,812 | €341,723 | €21,222 | €7,135 | ▼ 66.4% |
| Stocks and contracts in progress3 | €50,000 | - | - | €4,783 | - |
| Stocks30/36 | €50,000 | - | - | €4,783 | - |
| Amounts receivable within one year40/41 | €15,179 | €332,470 | €9,804 | €444 | ▼ 95.5% |
| Trade receivables40 | €10,222 | €301,644 | €4,837 | €0 | ▼ 100% |
| Other amounts receivable41 | €4,957 | €30,826 | €4,968 | €444 | ▼ 91.1% |
| Cash at bank and in hand54/58 | €1,633 | €8,842 | €11,394 | €1,664 | ▼ 85.4% |
| Deferred charges and accrued income490/1 | - | €411 | €24 | €245 | ▲ 926% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €73,251 | €341,723 | €67,067 | €45,358 | ▼ 32.4% |
| Equity10/15 | -€10,728 | €64,542 | €20,854 | -€30,410 | - |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | -€15,728 | €59,542 | €15,854 | -€35,410 | - |
| Amounts payable17/49 | €83,978 | €277,180 | €46,212 | €75,769 | ▲ 64.0% |
| Amounts payable within one year42/48 | €83,022 | €277,180 | €46,212 | €75,769 | ▲ 64.0% |
| Trade debts44 | €9,918 | €33,549 | €7,310 | €2,465 | ▼ 66.3% |
| Suppliers440/4 | €9,918 | €33,549 | €7,310 | €2,465 | ▼ 66.3% |
| Taxes, remuneration and social security45 | - | €23,145 | €0 | €300 | - |
| Taxes450/3 | - | €23,145 | €0 | €300 | - |
| Other amounts payable47/48 | €73,105 | €220,486 | €38,902 | €73,003 | ▲ 87.7% |
| Accrued charges and deferred income492/3 | €956 | - | - | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€15,728 | €75,270 | -€43,688 | -€51,265 | ▼ 17.3% |
| + Depreciation and write-downs630 | €3 | - | €4,059 | €7,621 | ▲ 87.8% |
| Operating cash flow (approximation) | -€15,725 | €75,270 | -€39,629 | -€43,643 | ▼ 10.1% |
| Investment in fixed assets (approximation) | - | - | - | €0 | - |
| Change in cash | - | €7,209 | €2,552 | -€9,730 | - |
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, 6,008 companies had the same profile as EDOUMAR has now. Two years later, 83.0% were still going and 7.9% had gone bankrupt.
- Micro
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
83.0%
was still going
8.4%
stopped otherwise
7.9%
went bankrupt
Another 0.8% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of EDOUMAR itself: 2.4% 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 6,008 companies, not a prediction for EDOUMAR. 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.