EFFECTIS
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 15-12-2025 PDF all 8 filings
Turnover
≈ €4.1m
Estimated: probably between €2.7m and €6.7m
Total assets
€1.3m▼ 0.5%
2024 · €1.3m
Net result
€349,037▲ 13.1%
2024 · €308,492
Working capital
€372,588▲ 12.0%
2024 · €332,737
In the rankings
#4 company by staff growth in East Flanders, Computing infrastructure and information services sector
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€548,600
▲ 12.2%
2025
20192025
Net result
€349,037
▲ 13.1%
2025
highest quarter of the sector
20192025
Equity
€445,473
▲ 7.0%
2025
middle half of the sector
20192025
Total assets
€1.3m
▼ 0.5%
2025
middle half of the sector
20192025
Debt
€841,334
▼ 4.0%
2025
20192025
Working capital
€372,588
▲ 12.0%
2025
highest quarter of the sector
20192025
Solvency
34.6%
▲ 2.4pp
2025
middle half of the sector
20192025
Current ratio
1.44
▲ 0.06
2025
middle half of the sector
20192025
Return on assets (ROA)
27.1%
▲ 3.3pp
2025
highest quarter of the sector
20192025
Staff (FTE)
26.2
▲ 8.7%
2025
highest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.4m-€0.2m▼ 48.4%€0.2m▼ 4.1%€0.3m▲ 67.5%€0.4m▲ 28.2%€0.5m▲ 9.7%€0.5m▲ 12.2%
Net result€0.3m-€0.1mabove the sector's middle half▼ 49.1%€0.1mabove the sector's middle half▼ 3.9%€0.2mabove the sector's middle half▲ 61.8%€0.3mabove the sector's middle half▲ 34.3%€0.3mabove the sector's middle half▲ 2.7%€0.3mabove the sector's middle half▲ 13.1%
Equity€0.2m-€0.3mwithin the sector's middle half▲ 24.8%€0.3mwithin the sector's middle half▲ 5.6%€0.4mwithin the sector's middle half▲ 32.1%€0.4mwithin the sector's middle half▲ 13.4%€0.4mwithin the sector's middle half▼ 2.7%€0.4mwithin the sector's middle half▲ 7.0%
Total assets€0.8m-€0.9mwithin the sector's middle half▲ 5.3%€1.0mwithin the sector's middle half▲ 15.1%€1.4mwithin the sector's middle half▲ 41.0%€1.4mwithin the sector's middle half▼ 5.6%€1.3mwithin the sector's middle half▼ 4.9%€1.3mwithin the sector's middle half▼ 0.5%
Debt€0.6m-€0.6m▼ 1.5%€0.7m▲ 19.2%€1.1m▲ 44.4%€0.9m▼ 12.3%€0.9m▼ 6.0%€0.8m▼ 4.0%
Working capital€0.1m-€0.2mwithin the sector's middle half▲ 78.8%€0.2mwithin the sector's middle half▲ 22.0%€0.3mwithin the sector's middle half▲ 15.0%€0.3mwithin the sector's middle half▲ 22.5%€0.3mwithin the sector's middle half▼ 2.2%€0.4mabove the sector's middle half▲ 12.0%
Solvency25.7%-30.5%within the sector's middle half▲ 4.8pp28.0%within the sector's middle half▼ 2.5pp26.2%within the sector's middle half▼ 1.8pp31.5%within the sector's middle half▲ 5.3pp32.2%within the sector's middle half▲ 0.7pp34.6%within the sector's middle half▲ 2.4pp
Current ratio1.18-1.32within the sector's middle half▲ 0.141.33within the sector's middle half▲ 0.011.26within the sector's middle half▼ 0.071.37within the sector's middle half▲ 0.111.38within the sector's middle half▲ 0.011.44within the sector's middle half▲ 0.06
Return on assets (ROA)33.5%-16.2%within the sector's middle half▼ 17.3pp13.5%within the sector's middle half▼ 2.7pp15.5%within the sector's middle half▲ 2.0pp22.1%above the sector's middle half▲ 6.6pp23.9%above the sector's middle half▲ 1.8pp27.1%above the sector's middle half▲ 3.3pp
Staff (FTE)5.8-9.6within the sector's middle half▲ 65.5%9.7within the sector's middle half▲ 1.0%14.8above the sector's middle half▲ 52.6%20.5above the sector's middle half▲ 38.5%24.1above the sector's middle half▲ 17.6%26.2above the sector's middle half▲ 8.7%
above
within
below
The sector band is the middle half of the companies in Computing infrastructure, data processing, hosting and other information service activities (NACE 63). 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 12% higher than in 2024 and the highest since 2021. It is the fourth rise in a row.
Turnover and EBIT margin are not published. The abbreviated 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 €1.3m
Fixed assets
€75,706 ▼ 11.6%
Current assets
€1.2m ▲ 0.3%
Equity and liabilities €1.3m
Equity
€445,473 ▲ 7.0%
Debt
€841,334 ▼ 4.0%
Debt's share of the balance-sheet total falls from 67.8% to 65.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€577,153▲
2024 · €517,650
Cash flow
€377,590▲
2024 · €337,097
Debt to equity
1.89▼
2024 · 2.11
ROE
78.4%▲
2024 · 74.1%
Interest coverage
10.52▼
2024 · 10.90
Debt ≤ 1 year
€838,514▼
2024 · €874,880
Income taxes
€144,895▲
2024 · €133,317
Staff costs
€1.8m▲
2024 · €1.7m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 19 | 21 | 26 | 29 |
| full-time | 18 | 19 | 18 | 23 |
| part-time | 1 | 2 | 8 | 6 |
| in full-time equivalents | 18.9 | 20.7 | 24.5 | 28.1 |
| Average over the year, in full-time equivalents | 14.8 | 20.5 | 24.1 | 26.2 |
| On a permanent contract | 19 | 21 | 25 | 29 |
| Joined | 13 | 6 | 9 | 9 |
| Left | 7 | 4 | 4 | 6 |
| Training hours | 624 | 1,204 | 1,134 | 1,660 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Securities and guarantees
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Pledge on the business | €165,000 | €165,000 | €330,000 | €330,000 |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €47,045 | €11,316 | €19,947 | €25,857 |
| Intangible fixed assets | €35,242 | €7,875 | €2,430 | €0 |
| Financial fixed assets | €16,161 | €2,333 | €750 | - |
| Depreciation and write-downs of the year | €22,573 | €29,991 | €28,604 | €28,553 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 5 entries · €22,260 awarded · €21,743 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €1,259 | €1,884 |
| 2024 | 1 | €5,370 | €4,228 |
| 2023 | 1 | €2,727 | €2,727 |
| 2022 | 2 | €12,904 | €12,904 |
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €0.001m | €0.001m | - | - |
| Remuneration, social security and pensions62 | - | - | - | €1.0m | €1.4m | €1.7m | €1.8m | ▲ 4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.06m | €0.05m | €0.04m | €0.02m | €0.03m | €0.03m | €0.03m | ▼ 0.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.006m | -€0.004m | -€0.007m | - | - |
| Other operating charges640/8 | - | - | - | €0.009m | €0.007m | €0.01m | €0.004m | ▼ 64.4% |
| Non-recurring operating charges66A | - | - | - | €0.02m | €0.001m | - | €0.004m | - |
| Gross operating margin9900 | €0.8m | €0.8m | €0.8m | €1.4m | €1.9m | €2.2m | €2.4m | ▲ 6.3% |
| Operating profit (loss)9901 | €0.4m | €0.2m | €0.2m | €0.3m | €0.4m | €0.5m | €0.5m | ▲ 12.2% |
| Financial income75/76B | - | - | - | €27 | €154 | €250 | €186 | ▼ 25.5% |
| Recurring financial income75 | €1 | €12 | €2 | €27 | €154 | €250 | €186 | ▼ 25.5% |
| Financial charges65/66B | - | - | - | €0.01m | €0.02m | €0.05m | €0.05m | ▲ 15.5% |
| Recurring financial charges65 | €0.008m | €0.008m | €0.009m | €0.01m | €0.02m | €0.05m | €0.05m | ▲ 15.5% |
| Profit (loss) for the period before taxes9903 | €0.4m | €0.2m | €0.2m | €0.3m | €0.4m | €0.4m | €0.5m | ▲ 11.8% |
| Income taxes67/77 | €0.1m | €0.07m | €0.06m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 8.7% |
| Profit (loss) for the period9904 | €0.3m | €0.1m | €0.1m | €0.2m | €0.3m | €0.3m | €0.3m | ▲ 13.1% |
| Profit (loss) for the period to be appropriated9905 | €0.3m | €0.1m | €0.1m | €0.2m | €0.3m | €0.3m | €0.3m | ▲ 13.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.8m | €0.9m | €1.0m | €1.4m | €1.4m | €1.3m | €1.3m | ▼ 0.5% |
| Fixed assets21/28 | €0.1m | €0.07m | €0.04m | €0.1m | €0.09m | €0.09m | €0.08m | ▼ 11.6% |
| Intangible fixed assets21 | €0.05m | €0.02m | €0.004m | €0.04m | €0.03m | €0.03m | €0.02m | ▼ 33.4% |
| Tangible fixed assets22/27 | €0.05m | €0.05m | €0.04m | €0.05m | €0.04m | €0.04m | €0.04m | ▲ 3.8% |
| Plant, machinery and equipment23 | - | - | - | €0 | - | €0 | - | - |
| Furniture and vehicles24 | - | - | - | €0.04m | €0.03m | €0.04m | €0.04m | ▲ 7.3% |
| Other tangible fixed assets26 | - | - | - | €0.005m | €0.004m | €0.003m | €0.002m | ▼ 41.4% |
| Financial fixed assets28 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | ▼ 12.0% |
| Current assets29/58 | €0.7m | €0.8m | €1.0m | €1.3m | €1.3m | €1.2m | €1.2m | ▲ 0.3% |
| Amounts receivable within one year40/41 | €0.6m | €0.6m | €0.8m | €1.1m | €0.9m | €1.0m | €0.9m | ▼ 10.1% |
| Trade receivables40 | - | - | - | €1.1m | €0.9m | €1.0m | €0.9m | ▼ 9.9% |
| Other amounts receivable41 | - | - | - | - | - | €0.004m | €0.001m | ▼ 84.6% |
| Cash at bank and in hand54/58 | €0.1m | €0.2m | €0.2m | €0.2m | €0.3m | €0.2m | €0.2m | ▲ 63.2% |
| Deferred charges and accrued income490/1 | - | - | - | €0.03m | €0.05m | €0.08m | €0.09m | ▲ 7.0% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.8m | €0.9m | €1.0m | €1.4m | €1.4m | €1.3m | €1.3m | ▼ 0.5% |
| Equity10/15 | €0.2m | €0.3m | €0.3m | €0.4m | €0.4m | €0.4m | €0.4m | ▲ 7.0% |
| Contributions10/11 | €0.006m | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Reserves13 | €0.2m | €0.3m | €0.3m | €0.4m | €0.4m | €0.4m | €0.4m | ▲ 7.1% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | - | - | - | - |
| Distributable reserves133 | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | ▲ 7.1% |
| Amounts payable17/49 | €0.6m | €0.6m | €0.7m | €1.1m | €0.9m | €0.9m | €0.8m | ▼ 4.0% |
| Amounts payable within one year42/48 | €0.6m | €0.6m | €0.7m | €1.1m | €0.9m | €0.9m | €0.8m | ▼ 4.2% |
| Financial debts43 | - | - | - | €0.2m | €0.03m | €0.03m | €0.03m | ▼ 0.4% |
| Credit institutions430/8 | - | - | - | €0.2m | €0.03m | €0.03m | €0.03m | ▼ 0.4% |
| Trade debts44 | €0.3m | €0.3m | €0.3m | €0.4m | €0.3m | €0.4m | €0.3m | ▼ 17.9% |
| Suppliers440/4 | - | - | - | €0.4m | €0.3m | €0.4m | €0.3m | ▼ 17.9% |
| Taxes, remuneration and social security45 | - | - | - | €0.3m | €0.3m | €0.3m | €0.4m | ▲ 6.6% |
| Taxes450/3 | - | - | - | €0.1m | €0.08m | €0.08m | €0.1m | ▲ 26.3% |
| Remuneration and social security454/9 | - | - | - | €0.2m | €0.3m | €0.3m | €0.3m | ▲ 0.4% |
| Other amounts payable47/48 | - | - | - | €0.1m | €0.3m | €0.1m | €0.1m | ▲ 5.2% |
| Accrued charges and deferred income492/3 | - | - | - | - | €0.004m | €0.002m | €0.003m | ▲ 45.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €282,470 | €143,843 | €138,243 | €223,663 | €300,476 | €308,492 | €349,037 | ▲ 13.1% |
| + Depreciation and write-downs630 | €55,240 | €48,145 | €37,840 | €22,573 | €29,991 | €28,604 | €28,553 | ▼ 0.2% |
| Operating cash flow (approximation) | €337,711 | €191,988 | €176,083 | €246,236 | €330,467 | €337,097 | €377,590 | ▲ 12.0% |
| Investment in fixed assets (approximation) | - | -€14,736 | -€9,460 | -€77,924 | -€21,524 | -€23,127 | -€18,614 | ▲ 19.5% |
| Change in cash | - | €74,389 | -€21,721 | €6,309 | €149,428 | -€181,907 | €96,256 | - |
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, 17,811 companies had the same profile as EFFECTIS has now. Two years later, 96.5% were still going and 0.3% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
96.5%
was still going
3.1%
stopped otherwise
0.3%
went bankrupt
That fits the bankruptcy probability of EFFECTIS itself: 0.2% 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 17,811 companies, not a prediction for EFFECTIS. 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 (8)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | abbreviated format | 15-12-2025 | 2025-00581725 | |
| 30-06-2024 | abbreviated format | 12-12-2024 | 2024-00614904 | |
| 30-06-2023 | abbreviated format | 07-12-2023 | 2023-00524073 | |
| 30-06-2022 | abbreviated format | 23-12-2022 | 2022-20545286 | |
| 30-06-2021 | abbreviated format | 16-12-2021 | 2021-80500515 | |
| 30-06-2020 | abbreviated format | 11-12-2020 | 2020-75200558 | |
| 30-06-2019 | abbreviated format | 20-12-2019 | 2019-76900040 | |
| 30-06-2018 | abbreviated format | 28-01-2019 | 2019-02500554 |