Electro Buyle
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 23-07-2026 at the NBB all 13 filings
Turnover
≈ €340,000
Estimated: probably between €220,000 and €550,000
Total assets
€458,956▲ 5.8%
2024 · €433,675
Net result
€43,227▲ 38×
2024 · €1,136
Working capital
€28,612▲ 31.0%
2024 · €21,849
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€64,566
▲ 922%
2025
20182025
Net result
€43,227
▲ 38×
2025
highest quarter of the sector
20182025
Equity
€202,920
▲ 13.8%
2025
highest quarter of the sector
20182025
Total assets
€458,956
▲ 5.8%
2025
highest quarter of the sector
20182025
Debt
€243,601
▲ 0.6%
2025
20182025
Working capital
€28,612
▲ 31.0%
2025
middle half of the sector
20182025
Solvency
44.2%
▲ 3.1pp
2025
middle half of the sector
20182025
Current ratio
1.24
▼ 0.01
2025
middle half of the sector
20182025
Return on assets (ROA)
9.4%
▲ 9.2pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€33,122-€21,538▼ 35.0%€24,484▲ 13.7%€25,131▲ 2.6%€115,404▲ 359%€12,433▼ 89.2%€6,319▼ 49.2%€64,566▲ 922%
Net result€23,229-€16,123▼ 30.6%€18,339within the sector's middle half▲ 13.7%€18,586within the sector's middle half▲ 1.3%€86,374above the sector's middle half▲ 365%€4,389within the sector's middle half▼ 94.9%€1,136within the sector's middle half▼ 74.1%€43,227above the sector's middle half▲ 38×
Equity€76,597-€92,721▲ 21.0%€111,059within the sector's middle half▲ 19.8%€129,645above the sector's middle half▲ 16.7%€208,019above the sector's middle half▲ 60.5%€200,408above the sector's middle half▼ 3.7%€178,316above the sector's middle half▼ 11.0%€202,920above the sector's middle half▲ 13.8%
Total assets€115,170-€175,795▲ 52.6%€362,399above the sector's middle half▲ 106%€363,472above the sector's middle half▲ 0.3%€465,184above the sector's middle half▲ 28.0%€475,604above the sector's middle half▲ 2.2%€433,675above the sector's middle half▼ 8.8%€458,956above the sector's middle half▲ 5.8%
Debt€38,573-€83,074▲ 115%€251,340▲ 203%€233,827▼ 7.0%€242,915▲ 3.9%€261,228▲ 7.5%€242,064▼ 7.3%€243,601▲ 0.6%
Working capital€63,531-€104,124▲ 63.9%€59,878within the sector's middle half▼ 42.5%€33,391within the sector's middle half▼ 44.2%€325,721above the sector's middle half▲ 875%€113,006above the sector's middle half▼ 65.3%€21,849within the sector's middle half▼ 80.7%€28,612within the sector's middle half▲ 31.0%
Solvency66.5%-52.7%▼ 13.8pp30.6%within the sector's middle half▼ 22.1pp35.7%within the sector's middle half▲ 5.0pp44.7%within the sector's middle half▲ 9.0pp42.1%within the sector's middle half▼ 2.6pp41.1%within the sector's middle half▼ 1.0pp44.2%within the sector's middle half▲ 3.1pp
Current ratio2.94-4.33▲ 1.382.17within the sector's middle half▼ 2.161.65within the sector's middle half▼ 0.525.11above the sector's middle half▲ 3.461.97within the sector's middle half▼ 3.141.25within the sector's middle half▼ 0.731.24within the sector's middle half▼ 0.01
Return on assets (ROA)20.2%-9.2%▼ 11.0pp5.1%within the sector's middle half▼ 4.1pp5.1%within the sector's middle half▲ 0.1pp18.6%above the sector's middle half▲ 13.5pp0.9%within the sector's middle half▼ 17.6pp0.3%within the sector's middle half▼ 0.7pp9.4%within the sector's middle half▲ 9.2pp
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 over 10 times that of 2024. It is a recovery after the fall 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 €458,956
Fixed assets
€310,046 ▼ 4.0%
Current assets
€148,910 ▲ 34.4%
Equity and liabilities €458,956
Equity
€202,920 ▲ 13.8%
Provisions
€12,436 ▼ 6.5%
Debt
€243,601 ▲ 0.6%
Debt's share of the balance-sheet total falls from 55.8% to 53.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€90,814▲
2024 · €26,022
Cash flow
€69,476▲
2024 · €20,840
Quick ratio
1.18▲
2024 · 1.10
Debt to equity
1.20▼
2024 · 1.36
ROE
21.3%▲
2024 · 0.6%
Interest coverage
15.27▲
2024 · 4.34
Debt ≤ 1 year
€120,298▲
2024 · €88,984
Debt > 1 year
€122,013▼
2024 · €151,181
Income taxes
€17,353▲
2024 · €746
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 | €38,873 | €16,969 | €201,115 | €96,086 | €13,452 |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €11,777 | €9,508 | €14,886 | €19,703 | €26,248 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €73,329 | €0 | €7,494 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | - | - | - | €576 | €169 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,232 | €10,298 | €11,776 | €11,777 | €9,508 | €14,886 | €19,703 | €26,248 | ▲ 33.2% |
| Other operating charges640/8 | - | - | - | €3,078 | €4,635 | €3,734 | €2,150 | €2,012 | ▼ 6.4% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €999 | €0 | ▼ 100% |
| Gross operating margin9900 | €40,350 | €33,401 | €37,703 | €40,562 | €129,716 | €31,054 | €29,171 | €92,826 | ▲ 218% |
| Operating profit (loss)9901 | €33,122 | €21,538 | €24,484 | €25,131 | €115,404 | €12,433 | €6,319 | €64,566 | ▲ 922% |
| Financial income75/76B | - | - | - | €599 | €289 | €399 | €890 | €1,102 | ▲ 23.8% |
| Recurring financial income75 | €59 | €1,637 | €749 | €599 | €289 | €399 | €890 | €1,102 | ▲ 23.8% |
| Financial charges65/66B | - | - | - | €1,132 | €4,505 | €6,790 | €5,999 | €5,947 | ▼ 0.9% |
| Recurring financial charges65 | €627 | €1,941 | €1,805 | €1,132 | €4,505 | €6,790 | €5,999 | €5,947 | ▼ 0.9% |
| Profit (loss) for the period before taxes9903 | €32,555 | €21,233 | €23,428 | €24,598 | €111,188 | €6,042 | €1,210 | €59,721 | ▲ 49× |
| Transfer from deferred taxes780 | - | - | - | - | €417 | €281 | €673 | €860 | ▲ 27.8% |
| Transfer to deferred taxes680 | - | - | - | - | €14,666 | €0 | - | - | - |
| Income taxes67/77 | €9,326 | €5,110 | €5,089 | €6,012 | €10,565 | €1,934 | €746 | €17,353 | ▲ 23× |
| Profit (loss) for the period9904 | €23,229 | €16,123 | €18,339 | €18,586 | €86,374 | €4,389 | €1,136 | €43,227 | ▲ 38× |
| Transfer from tax-exempt reserves789 | - | - | - | - | €1,667 | €1,124 | €2,690 | €3,438 | ▲ 27.8% |
| Transfer to tax-exempt reserves689 | - | - | - | - | €58,664 | €0 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €23,229 | €16,123 | €18,339 | €18,586 | €29,378 | €5,513 | €3,827 | €46,666 | ▲ 12× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €115,170 | €175,795 | €362,399 | €363,472 | €465,184 | €475,604 | €433,675 | €458,956 | ▲ 5.8% |
| Fixed assets21/28 | €18,950 | €40,379 | €251,344 | €278,440 | €60,231 | €246,460 | €322,842 | €310,046 | ▼ 4.0% |
| Tangible fixed assets22/27 | €18,450 | €39,879 | €250,844 | €277,940 | €59,731 | €245,960 | €322,342 | €309,546 | ▼ 4.0% |
| Land and buildings22 | - | - | - | €265,187 | €54,708 | €242,775 | €283,623 | €278,926 | ▼ 1.7% |
| Plant, machinery and equipment23 | - | - | - | €4,832 | €2,557 | €1,174 | €454 | €5 | ▼ 98.9% |
| Furniture and vehicles24 | - | - | - | €5,000 | €0 | - | €36,708 | €29,513 | ▼ 19.6% |
| Other tangible fixed assets26 | - | - | - | €2,920 | €2,466 | €2,011 | €1,556 | €1,102 | ▼ 29.2% |
| Financial fixed assets28 | €500 | €500 | €500 | €500 | €500 | €500 | €500 | €500 | = |
| Current assets29/58 | €96,220 | €135,416 | €111,055 | €85,032 | €404,953 | €229,144 | €110,833 | €148,910 | ▲ 34.4% |
| Stocks and contracts in progress3 | €10,000 | €8,973 | €13,340 | €6,408 | €7,280 | €54,633 | €12,765 | €7,105 | ▼ 44.3% |
| Stocks30/36 | - | - | - | €6,408 | €7,280 | €16,095 | €7,895 | €7,105 | ▼ 10.0% |
| Contracts in progress37 | - | - | - | - | - | €38,538 | €4,871 | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €65,540 | €69,890 | €59,998 | €56,535 | €146,039 | €90,023 | €57,511 | €105,139 | ▲ 82.8% |
| Trade receivables40 | - | - | - | €48,496 | €132,728 | €71,969 | €48,642 | €89,267 | ▲ 83.5% |
| Other amounts receivable41 | - | - | - | €8,040 | €13,311 | €18,054 | €8,869 | €15,872 | ▲ 79.0% |
| Cash at bank and in hand54/58 | €19,255 | €55,190 | €36,408 | €21,234 | €246,007 | €81,211 | €37,893 | €32,015 | ▼ 15.5% |
| Deferred charges and accrued income490/1 | - | - | - | €855 | €5,627 | €3,276 | €2,664 | €4,651 | ▲ 74.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €115,170 | €175,795 | €362,399 | €363,472 | €465,184 | €475,604 | €433,675 | €458,956 | ▲ 5.8% |
| Equity10/15 | €76,597 | €92,721 | €111,059 | €129,645 | €208,019 | €200,408 | €178,316 | €202,920 | ▲ 13.8% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €45,089 | €61,212 | €79,551 | €117,245 | €195,619 | €188,008 | €165,916 | €190,520 | ▲ 14.8% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Tax-exempt reserves132 | - | - | - | - | €56,996 | €55,872 | €53,182 | €49,743 | ▼ 6.5% |
| Distributable reserves133 | - | - | - | €115,385 | €136,763 | €132,136 | €112,734 | €140,776 | ▲ 24.9% |
| Profit (loss) carried forward14 | €19,109 | €19,109 | €19,109 | €0 | €0 | €0 | €0 | €0 | - |
| Provisions and deferred taxes16 | - | - | - | - | €14,249 | €13,968 | €13,295 | €12,436 | ▼ 6.5% |
| Deferred taxes168 | - | - | - | - | €14,249 | €13,968 | €13,295 | €12,436 | ▼ 6.5% |
| Amounts payable17/49 | €38,573 | €83,074 | €251,340 | €233,827 | €242,915 | €261,228 | €242,064 | €243,601 | ▲ 0.6% |
| Amounts payable after more than one year17 | €5,884 | €51,735 | €198,897 | €180,901 | €162,580 | €143,926 | €151,181 | €122,013 | ▼ 19.3% |
| Financial debts170/4 | - | - | - | €180,901 | €162,580 | €143,926 | €151,181 | €122,013 | ▼ 19.3% |
| Amounts payable within one year42/48 | €32,689 | €31,292 | €51,177 | €51,641 | €79,232 | €116,138 | €88,984 | €120,298 | ▲ 35.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €17,995 | €18,321 | €18,653 | €28,428 | €29,167 | ▲ 2.6% |
| Trade debts44 | €17,569 | €20,448 | €25,116 | €25,668 | €44,726 | €69,507 | €43,024 | €46,779 | ▲ 8.7% |
| Suppliers440/4 | - | - | - | €25,668 | €44,726 | €69,507 | €43,024 | €46,779 | ▲ 8.7% |
| Taxes, remuneration and social security45 | - | - | - | €7,247 | €10,829 | €11,279 | €3,872 | €17,640 | ▲ 356% |
| Taxes450/3 | - | - | - | €7,247 | €10,829 | €9,279 | €1,872 | €15,640 | ▲ 736% |
| Remuneration and social security454/9 | - | - | - | - | - | €2,000 | €2,000 | €2,000 | = |
| Other amounts payable47/48 | - | - | - | €731 | €5,355 | €16,699 | €13,660 | €26,712 | ▲ 95.5% |
| Accrued charges and deferred income492/3 | - | - | - | €1,285 | €1,103 | €1,163 | €1,899 | €1,289 | ▼ 32.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €23,229 | €16,123 | €18,339 | €18,586 | €86,374 | €4,389 | €1,136 | €43,227 | ▲ 38× |
| + Depreciation and write-downs630 | €6,232 | €10,298 | €11,776 | €11,777 | €9,508 | €14,886 | €19,703 | €26,248 | ▲ 33.2% |
| Operating cash flow (approximation) | €29,461 | €26,422 | €30,115 | €30,363 | €95,882 | €19,275 | €20,840 | €69,476 | ▲ 233% |
| Investment in fixed assets (approximation) | - | -€31,727 | -€222,741 | -€38,873 | €208,701 | -€201,115 | -€96,086 | -€13,452 | ▲ 86.0% |
| Change in cash | - | €35,934 | -€18,781 | -€15,174 | €224,772 | -€164,795 | -€43,319 | -€5,877 | ▲ 86.4% |
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, 17,811 companies had the same profile as Electro Buyle 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 Electro Buyle 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 Electro Buyle. 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 13 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 23-07-2026 | 2026-00330226 | |
| 31-12-2024 | micro format | 29-08-2025 | 2025-00443264 | |
| 31-12-2023 | micro format | 12-07-2024 | 2024-00240167 | |
| 31-12-2022 | micro format | 01-09-2023 | 2023-00416918 | |
| 31-12-2021 | micro format | 03-07-2022 | 2022-20122242 | |
| 31-12-2020 | micro format | 30-06-2021 | 2021-27800064 | |
| 31-12-2019 | micro format | 28-07-2020 | 2020-35000085 | |
| 31-12-2018 | micro format | 26-08-2019 | 2019-51200331 | |
| 31-12-2017 | micro format | 24-07-2018 | 2018-37200206 | |
| 31-12-2016 | micro format | 28-07-2017 | 2017-38400304 |