EEKD
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 31-07-2026 at the NBB all 5 filings
Turnover
≈ €38,000
Estimated: probably between €23,000 and €100,000
Total assets
€9,755▼ 30.0%
2024 · €13,929
Net result
-€4,176▲ 25.7%
2024 · -€5,621
Working capital
€2,188▼ 68.1%
2024 · €6,849
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
-€1,102
▲ 68.0%
2025
20212025
Net result
-€4,176
▲ 25.7%
2025
lowest quarter of the sector
20212025
Equity
€4,069
▼ 50.7%
2025
lowest quarter of the sector
20212025
Total assets
€9,755
▼ 30.0%
2025
lowest quarter of the sector
20212025
Debt
€5,687
=
2025
20212025
Working capital
€2,188
▼ 68.1%
2025
middle half of the sector
20212025
Solvency
41.7%
▼ 17.5pp
2025
middle half of the sector
20212025
Current ratio
1.38
▼ 0.82
2025
middle half of the sector
20212025
Return on assets (ROA)
-42.8%
▼ 2.5pp
2025
lowest quarter of the sector
20212025
Staff (FTE)
no figure
2025
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result€11,560-€16,558▲ 43.2%-€9,817-€3,447▲ 64.9%-€1,102▲ 68.0%
Net result€8,215within the sector's middle half-€11,422within the sector's middle half▲ 39.0%-€10,771below the sector's middle half-€5,621below the sector's middle half▲ 47.8%-€4,176below the sector's middle half▲ 25.7%
Equity€13,215below the sector's middle half-€24,637within the sector's middle half▲ 86.4%€13,865within the sector's middle half▼ 43.7%€8,244below the sector's middle half▼ 40.5%€4,069below the sector's middle half▼ 50.7%
Total assets€17,302below the sector's middle half-€31,856below the sector's middle half▲ 84.1%€20,864below the sector's middle half▼ 34.5%€13,929below the sector's middle half▼ 33.2%€9,755below the sector's middle half▼ 30.0%
Debt€4,087-€7,219▲ 76.6%€6,999▼ 3.1%€5,685▼ 18.8%€5,687=
Working capital€11,713within the sector's middle half-€22,601within the sector's middle half▲ 92.9%€13,135within the sector's middle half▼ 41.9%€6,849within the sector's middle half▼ 47.9%€2,188within the sector's middle half▼ 68.1%
Solvency76.4%above the sector's middle half-77.3%above the sector's middle half▲ 1.0pp66.5%above the sector's middle half▼ 10.9pp59.2%within the sector's middle half▼ 7.3pp41.7%within the sector's middle half▼ 17.5pp
Current ratio3.87above the sector's middle half-4.13above the sector's middle half▲ 0.262.94above the sector's middle half▼ 1.192.20within the sector's middle half▼ 0.741.38within the sector's middle half▼ 0.82
Return on assets (ROA)47.5%above the sector's middle half-35.9%above the sector's middle half▼ 11.6pp-51.6%below the sector's middle half▼ 87.5pp-40.4%below the sector's middle half▲ 11.3pp-42.8%below the sector's middle half▼ 2.5pp
Staff (FTE)0.3-
above
within
below
The sector band is the middle half of the companies in Services to buildings and landscape activities (NACE 81). 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 €1,102, smaller than the loss of €3,447 in 2024.
Turnover and EBIT margin are not published. The 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 €9,755
Fixed assets
€1,881 ▲ 34.8%
Current assets
€7,875 ▼ 37.2%
Equity and liabilities €9,755
Equity
€4,069 ▼ 50.7%
Debt
€5,687 =
Debt's share of the balance-sheet total rises from 40.8% to 58.3%. Equity is lower.
Key figures and ratios
EBITDA
-€70▲
2024 · -€2,153
Cash flow
-€3,143▲
2024 · -€4,327
Debt to equity
1.40▲
2024 · 0.69
ROE
-102.6%▼
2024 · -68.2%
Interest coverage
-0.02▲
2024 · -1.08
Debt ≤ 1 year
€5,687=
2024 · €5,685
Income taxes
€148▼
2024 · €177
Staff costs
€163▼
2024 · €844
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 |
|---|---|
| Average over the year, in full-time equivalents | 0.1 |
| Joined | 1 |
| Left | 1 |
Source: social balance sheet in the 2021 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,937 | €1,262 | - | €11,252 | €26,744 |
| Depreciation and write-downs of the year | €1,972 | €727 | €1,066 | €1,294 | €1,032 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €4,693 | €282 | - | €844 | €163 | ▼ 80.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,972 | €727 | €1,066 | €1,294 | €1,032 | ▼ 20.2% |
| Other operating charges640/8 | €1,125 | €654 | €636 | €819 | €4,348 | ▲ 431% |
| Gross operating margin9900 | €19,350 | €18,222 | -€8,115 | -€490 | €4,442 | - |
| Operating profit (loss)9901 | €11,560 | €16,558 | -€9,817 | -€3,447 | -€1,102 | ▲ 68.0% |
| Financial income75/76B | - | - | €0 | - | - | - |
| Recurring financial income75 | - | - | €0 | - | - | - |
| Financial charges65/66B | €674 | €849 | €788 | €1,997 | €2,926 | ▲ 46.5% |
| Recurring financial charges65 | €674 | €849 | €788 | €1,997 | €2,926 | ▲ 46.5% |
| Profit (loss) for the period before taxes9903 | €10,886 | €15,710 | -€10,605 | -€5,444 | -€4,028 | ▲ 26.0% |
| Income taxes67/77 | €2,671 | €4,288 | €166 | €177 | €148 | ▼ 16.4% |
| Profit (loss) for the period9904 | €8,215 | €11,422 | -€10,771 | -€5,621 | -€4,176 | ▲ 25.7% |
| Profit (loss) for the period to be appropriated9905 | €8,215 | €11,422 | -€10,771 | -€5,621 | -€4,176 | ▲ 25.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €17,302 | €31,856 | €20,864 | €13,929 | €9,755 | ▼ 30.0% |
| Fixed assets21/28 | €1,501 | €2,036 | €970 | €1,395 | €1,881 | ▲ 34.8% |
| Tangible fixed assets22/27 | €1,501 | €2,036 | €970 | €1,395 | €1,881 | ▲ 34.8% |
| Furniture and vehicles24 | €1,501 | €2,036 | €970 | €1,395 | €1,881 | ▲ 34.8% |
| Current assets29/58 | €15,801 | €29,820 | €19,894 | €12,534 | €7,875 | ▼ 37.2% |
| Amounts receivable after more than one year29 | - | €948 | - | - | - | - |
| Other amounts receivable291 | - | €948 | - | - | - | - |
| Amounts receivable within one year40/41 | €4,323 | €7,488 | €7,341 | €8,432 | €7,160 | ▼ 15.1% |
| Trade receivables40 | €2,050 | €6,214 | €7,054 | €7,741 | €7,160 | ▼ 7.5% |
| Other amounts receivable41 | €2,273 | €1,274 | €287 | €691 | - | - |
| Cash at bank and in hand54/58 | €10,362 | €20,110 | €11,173 | €1,952 | €564 | ▼ 71.1% |
| Deferred charges and accrued income490/1 | €1,115 | €1,274 | €1,381 | €2,151 | €150 | ▼ 93.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €17,302 | €31,856 | €20,864 | €13,929 | €9,755 | ▼ 30.0% |
| Equity10/15 | €13,215 | €24,637 | €13,865 | €8,244 | €4,069 | ▼ 50.7% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | - | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Distributable reserves133 | - | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | €8,215 | €14,637 | €3,865 | -€1,756 | -€5,931 | ▼ 238% |
| Amounts payable17/49 | €4,087 | €7,219 | €6,999 | €5,685 | €5,687 | = |
| Amounts payable within one year42/48 | €4,087 | €7,219 | €6,759 | €5,685 | €5,687 | = |
| Trade debts44 | €1,416 | €1,492 | €1,097 | €2,011 | €1,885 | ▼ 6.3% |
| Suppliers440/4 | €1,416 | €1,492 | €1,097 | €2,011 | €1,885 | ▼ 6.3% |
| Taxes, remuneration and social security45 | €2,671 | €4,528 | €4,488 | €823 | €2,078 | ▲ 152% |
| Taxes450/3 | €2,671 | €4,528 | €4,488 | €823 | €2,078 | ▲ 152% |
| Other amounts payable47/48 | - | €1,200 | €1,174 | €2,850 | €1,724 | ▼ 39.5% |
| Accrued charges and deferred income492/3 | - | - | €240 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,215 | €11,422 | -€10,771 | -€5,621 | -€4,176 | ▲ 25.7% |
| + Depreciation and write-downs630 | €1,972 | €727 | €1,066 | €1,294 | €1,032 | ▼ 20.2% |
| Operating cash flow (approximation) | €10,187 | €12,149 | -€9,705 | -€4,327 | -€3,143 | ▲ 27.3% |
| Investment in fixed assets (approximation) | - | -€1,262 | €0 | -€1,719 | -€1,518 | ▲ 11.7% |
| Change in cash | - | €9,748 | -€8,937 | -€9,221 | -€1,388 | ▲ 85.0% |
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, 3,591 companies had the same profile as EEKD has now. Two years later, 87.4% were still going and 3.0% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
87.4%
was still going
9.4%
stopped otherwise
3.0%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of EEKD itself: 1.2% 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 3,591 companies, not a prediction for EEKD. 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 | micro format | 31-07-2026 | 2026-00370031 | |
| 31-12-2024 | micro format | 15-07-2025 | 2025-00268764 | |
| 31-12-2023 | micro format | 26-08-2024 | 2024-00369447 | |
| 31-12-2022 | micro format | 21-07-2023 | 2023-00264903 | |
| 31-12-2021 | micro format | 26-07-2022 | 2022-20221867 |