Ekstravert
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 29-07-2026 at the NBB all 48 filings
Turnover
≈ €730,000
Estimated: probably between €450,000 and €1.2m
EBIT margin
Not included in this filing
Net result
€42,705
2024 · -€100
Working capital
€170,678▼ 3.7%
2024 · €177,264
In the rankings
#3 oldest company in Bruges, Construction sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€66,490
▲ 592%
2025
20182025
Net result
€42,705
2025
middle half of the sector
20182025
Equity
€315,535
▲ 15.7%
2025
middle half of the sector
20182025
Total assets
€525,485
▲ 0.2%
2025
middle half of the sector
20182025
Debt
€209,950
▼ 16.5%
2025
20182025
Working capital
€170,678
▼ 3.7%
2025
middle half of the sector
20182025
Solvency
60.0%
▲ 8.0pp
2025
middle half of the sector
20182025
Current ratio
2.05
=
2025
middle half of the sector
20182025
Return on assets (ROA)
8.1%
▲ 8.1pp
2025
middle half of the sector
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€12,454-€9,783▼ 21.5%-€104,931-€207,888▼ 98.1%€243,883-€141€9,609€66,490▲ 592%
Net result€11,357-€1,662▼ 85.4%-€119,736below the sector's middle half-€214,318below the sector's middle half▼ 79.0%€238,395above the sector's middle half-€5,221below the sector's middle half-€100below the sector's middle half▲ 98.1%€42,705within the sector's middle half
Equity€372,156-€373,818▲ 0.4%€254,083within the sector's middle half▼ 32.0%€39,765within the sector's middle half▼ 84.3%€278,160within the sector's middle half▲ 600%€272,930within the sector's middle half▼ 1.9%€272,830within the sector's middle half=€315,535within the sector's middle half▲ 15.7%
Total assets€660,457-€498,623▼ 24.5%€460,182within the sector's middle half▼ 7.7%€412,846above the sector's middle half▼ 10.3%€380,397below the sector's middle half▼ 7.9%€382,989below the sector's middle half▲ 0.7%€524,406within the sector's middle half▲ 36.9%€525,485within the sector's middle half▲ 0.2%
Debt€288,301-€124,805▼ 56.7%€206,100▲ 65.1%€373,081▲ 81.0%€102,237▼ 72.6%€110,060▲ 7.7%€251,576▲ 129%€209,950▼ 16.5%
Working capital€324,268-€263,750▼ 18.7%€202,342within the sector's middle half▼ 23.3%-€50,861below the sector's middle half€164,003within the sector's middle half€151,078within the sector's middle half▼ 7.9%€177,264within the sector's middle half▲ 17.3%€170,678within the sector's middle half▼ 3.7%
Solvency56.3%-75.0%▲ 18.6pp55.2%within the sector's middle half▼ 19.8pp9.6%below the sector's middle half▼ 45.6pp73.1%above the sector's middle half▲ 63.5pp71.3%above the sector's middle half▼ 1.9pp52.0%within the sector's middle half▼ 19.2pp60.0%within the sector's middle half▲ 8.0pp
Current ratio2.39-3.47▲ 1.082.18within the sector's middle half▼ 1.290.86below the sector's middle half▼ 1.322.70within the sector's middle half▲ 1.842.94within the sector's middle half▲ 0.232.05within the sector's middle half▼ 0.892.05within the sector's middle half=
Return on assets (ROA)1.7%-0.3%▼ 1.4pp-26.0%below the sector's middle half▼ 26.4pp-51.9%below the sector's middle half▼ 25.9pp62.7%above the sector's middle half▲ 114.6pp-1.4%below the sector's middle half▼ 64.0pp0.0%below the sector's middle half▲ 1.3pp8.1%within the sector's middle half▲ 8.1pp
Staff (FTE)2.5-1.6▼ 36.0%1.8below the sector's middle half▲ 12.5%1.5▼ 16.7%1.5below the sector's middle half=0below the sector's middle half
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 6.9 times that of 2024. It is the second rise in a row, after the fall in 2023.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €525,485
Fixed assets
€191,544 ▲ 7.9%
Current assets
€333,941 ▼ 3.7%
Equity and liabilities €525,485
Equity
€315,535 ▲ 15.7%
Debt
€209,950 ▼ 16.5%
Debt's share of the balance-sheet total falls from 48.0% to 40.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€106,838▲
2024 · €31,338
Cash flow
€83,054▲
2024 · €21,629
Quick ratio
2.00▲
2024 · 1.95
Debt to equity
0.67▼
2024 · 0.92
ROE
13.5%▲
2024 · 0.0%
Interest coverage
6.23▲
2024 · 3.23
Debt ≤ 1 year
€163,263▼
2024 · €169,561
Debt > 1 year
€36,124▼
2024 · €82,015
Income taxes
€6,633
Staff costs
€46,477▼
2024 · €56,458
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2024 |
|---|---|---|---|
| Employees at the balance-sheet date | 2 | 2 | - |
| full-time | 1 | 1 | - |
| part-time | 1 | 1 | - |
| in full-time equivalents | 1.5 | 1.5 | - |
| Average over the year, in full-time equivalents | 1.5 | 1.4 | - |
| On a permanent contract | 2 | 2 | - |
Source: social balance sheet in the 2021 to 2024 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | - | €3,742 | - | - | - |
| Pledge on the business | €100,000 | €100,000 | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €22,469 | €3,193 | €20,670 | €10,452 | €20,303 |
| Intangible fixed assets | €47,598 | €43,218 | €40,189 | €41,941 | €40,152 |
| Financial fixed assets | - | - | €4,540 | - | €0 |
| Depreciation and write-downs of the year | €59,821 | €26,377 | €31,515 | €21,729 | €40,349 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 to 2025 · 2 entries · €9,510 awarded · €9,510 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €9,000 | €9,000 |
| 2023 | 1 | €510 | €510 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €43,137 | €35,551 | €49,030 | €56,458 | €46,477 | ▼ 17.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €41,117 | €71,111 | €72,890 | €59,821 | €26,377 | €31,515 | €21,729 | €40,349 | ▲ 85.7% |
| Other operating charges640/8 | - | - | - | €1,722 | €6,064 | €7,539 | €1,718 | €2,190 | ▲ 27.5% |
| Non-recurring operating charges66A | - | - | - | €15,601 | - | - | - | - | - |
| Gross operating margin9900 | €286,656 | €162,802 | €34,079 | -€87,606 | €311,876 | €87,943 | €89,513 | €155,506 | ▲ 73.7% |
| Operating profit (loss)9901 | €12,454 | €9,783 | -€104,931 | -€207,888 | €243,883 | -€141 | €9,609 | €66,490 | ▲ 592% |
| Financial income75/76B | - | - | - | €2,118 | €0 | €3,966 | €0 | €0 | - |
| Recurring financial income75 | €13,895 | €5,845 | €5,683 | €2,118 | €0 | €3,966 | €0 | €0 | - |
| Financial charges65/66B | - | - | - | €8,148 | €5,488 | €9,046 | €9,708 | €17,152 | ▲ 76.7% |
| Recurring financial charges65 | €11,966 | €13,226 | €20,415 | €8,148 | €5,488 | €9,046 | €9,708 | €17,152 | ▲ 76.7% |
| Profit (loss) for the period before taxes9903 | €14,384 | €2,402 | -€119,663 | -€213,918 | €238,395 | -€5,221 | -€100 | €49,338 | - |
| Income taxes67/77 | €3,027 | €739 | €73 | €400 | €0 | - | - | €6,633 | - |
| Profit (loss) for the period9904 | €11,357 | €1,662 | -€119,736 | -€214,318 | €238,395 | -€5,221 | -€100 | €42,705 | - |
| Profit (loss) for the period to be appropriated9905 | €11,140 | €1,662 | -€119,736 | -€214,318 | €238,395 | -€5,221 | -€100 | €42,705 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €660,457 | €498,623 | €460,182 | €412,846 | €380,397 | €382,989 | €524,406 | €525,485 | ▲ 0.2% |
| Fixed assets21/28 | €103,658 | €128,180 | €86,311 | €100,203 | €119,993 | €153,867 | €177,582 | €191,544 | ▲ 7.9% |
| Intangible fixed assets21 | €53,717 | €86,601 | €60,727 | €63,285 | €87,663 | €103,302 | €127,080 | €132,241 | ▲ 4.1% |
| Tangible fixed assets22/27 | €49,666 | €41,305 | €25,340 | €29,774 | €25,430 | €39,125 | €46,011 | €54,813 | ▲ 19.1% |
| Plant, machinery and equipment23 | - | - | - | - | - | - | - | €401 | - |
| Furniture and vehicles24 | - | - | - | €4,765 | €2,674 | €9,538 | €11,709 | €9,732 | ▼ 16.9% |
| Other tangible fixed assets26 | - | - | - | €25,009 | €22,756 | €29,587 | €34,302 | €44,679 | ▲ 30.3% |
| Financial fixed assets28 | €274 | €274 | €244 | €7,144 | €6,900 | €11,440 | €4,490 | €4,490 | = |
| Current assets29/58 | €556,800 | €370,444 | €373,871 | €312,642 | €260,404 | €229,123 | €346,824 | €333,941 | ▼ 3.7% |
| Amounts receivable after more than one year29 | - | - | - | €164,546 | €113,485 | €68,613 | €68,613 | €68,613 | = |
| Trade receivables290 | - | - | - | €164,546 | €113,485 | €68,613 | €68,613 | €68,613 | = |
| Stocks and contracts in progress3 | €50,635 | €89,020 | €74,335 | €26,525 | €56,718 | €64,400 | €16,424 | €8,211 | ▼ 50.0% |
| Stocks30/36 | - | - | - | €26,525 | €56,718 | €64,400 | €16,424 | €8,211 | ▼ 50.0% |
| Amounts receivable within one year40/41 | €51,294 | €46,694 | €58,149 | €38,741 | €28,515 | €71,117 | €195,213 | €169,360 | ▼ 13.2% |
| Trade receivables40 | - | - | - | €33,553 | €27,093 | €62,756 | €120,229 | €17,914 | ▼ 85.1% |
| Other amounts receivable41 | - | - | - | €5,189 | €1,422 | €8,361 | €74,984 | €151,446 | ▲ 102% |
| Current investments50/53 | €41,171 | €41,171 | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €269,461 | €34,665 | €86,088 | €80,529 | €61,686 | €24,992 | €66,573 | €84,706 | ▲ 27.2% |
| Deferred charges and accrued income490/1 | - | - | - | €2,300 | €0 | - | - | €3,050 | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €660,457 | €498,623 | €460,182 | €412,846 | €380,397 | €382,989 | €524,406 | €525,485 | ▲ 0.2% |
| Equity10/15 | €372,156 | €373,818 | €254,083 | €39,765 | €278,160 | €272,930 | €272,830 | €315,535 | ▲ 15.7% |
| Contributions10/11 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Capital10 | - | - | - | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Issued capital100 | - | - | - | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Reserves13 | €310,656 | €312,318 | €192,583 | €6,367 | €6,367 | €6,367 | €6,367 | €6,367 | = |
| Non-distributable reserves130/1 | - | - | - | €6,150 | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Legal reserve130 | - | - | - | €6,150 | €6,150 | €6,150 | €6,150 | €6,150 | = |
| Tax-exempt reserves132 | - | - | - | €217 | €217 | €217 | €217 | €217 | = |
| Distributable reserves133 | - | - | - | €0 | - | - | - | - | - |
| Profit (loss) carried forward14 | - | - | - | -€28,102 | €210,293 | €205,063 | €204,963 | €247,668 | ▲ 20.8% |
| Amounts payable17/49 | €288,301 | €124,805 | €206,100 | €373,081 | €102,237 | €110,060 | €251,576 | €209,950 | ▼ 16.5% |
| Amounts payable after more than one year17 | €54,538 | €17,098 | €34,571 | €9,577 | €5,835 | €32,015 | €82,015 | €36,124 | ▼ 56.0% |
| Financial debts170/4 | - | - | - | €3,742 | €0 | €26,180 | €76,180 | €30,963 | ▼ 59.4% |
| Other amounts payable178/9 | - | - | - | €5,835 | €5,835 | €5,835 | €5,835 | €5,161 | ▼ 11.6% |
| Amounts payable within one year42/48 | €232,531 | €106,694 | €171,529 | €363,504 | €96,402 | €78,045 | €169,561 | €163,263 | ▼ 3.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €22,124 | €3,742 | €21,516 | €50,000 | €63,485 | ▲ 27.0% |
| Trade debts44 | €180,305 | €66,635 | €31,555 | €318,564 | €84,202 | €29,254 | €70,373 | €50,719 | ▼ 27.9% |
| Suppliers440/4 | - | - | - | €318,564 | €84,202 | €29,254 | €70,373 | €50,719 | ▼ 27.9% |
| Advances received on contracts in progress46 | - | - | - | €19,030 | €1,063 | €222 | €0 | €2,439 | - |
| Taxes, remuneration and social security45 | - | - | - | €3,786 | €7,394 | €27,052 | €41,316 | €46,620 | ▲ 12.8% |
| Taxes450/3 | - | - | - | €342 | €1,882 | €11,556 | €19,772 | €36,631 | ▲ 85.3% |
| Remuneration and social security454/9 | - | - | - | €3,444 | €5,513 | €15,497 | €21,544 | €9,989 | ▼ 53.6% |
| Other amounts payable47/48 | - | - | - | - | - | - | €7,872 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | - | €10,563 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,357 | €1,662 | -€119,736 | -€214,318 | €238,395 | -€5,221 | -€100 | €42,705 | - |
| + Depreciation and write-downs630 | €41,117 | €71,111 | €72,890 | €59,821 | €26,377 | €31,515 | €21,729 | €40,349 | ▲ 85.7% |
| Operating cash flow (approximation) | €52,474 | €72,774 | -€46,846 | -€154,497 | €264,773 | €26,295 | €21,629 | €83,054 | ▲ 284% |
| Investment in fixed assets (approximation) | - | -€95,633 | -€31,021 | -€73,713 | -€46,167 | -€65,390 | -€45,444 | -€54,311 | ▼ 19.5% |
| Change in cash | - | -€234,796 | €51,423 | -€5,559 | -€18,843 | -€36,694 | €41,581 | €18,133 | ▼ 56.4% |
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, 20,136 companies had the same profile as Ekstravert has now. Two years later, 95.0% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.0%
was still going
4.7%
stopped otherwise
0.2%
went bankrupt
That fits the bankruptcy probability of Ekstravert itself: 0.3% 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 20,136 companies, not a prediction for Ekstravert. 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.
Latest 10 of 48 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 29-07-2026 | 2026-00348237 | |
| 31-12-2024 | abbreviated format | 31-07-2025 | 2025-00340648 | |
| 31-12-2023 | abbreviated format | 14-01-2025 | 2025-00004212 | |
| 31-12-2022 | abbreviated format | 11-09-2023 | 2023-00443027 | |
| 31-12-2021 | micro format | 29-08-2022 | 2022-20331613 | |
| 31-12-2020 | abbreviated format | 27-07-2021 | 2021-40500161 | |
| 31-12-2019 | abbreviated format | 08-10-2020 | 2020-60300600 | |
| 31-12-2018 | abbreviated format | 30-07-2019 | 2019-41300089 | |
| 31-12-2017 | abbreviated format | 31-07-2018 | 2018-40900389 | |
| 31-12-2016 | abbreviated format | 31-08-2017 | 2017-54600386 |