ELECTRO SOFT
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 13-07-2026 at the NBB all 22 filings
Amounts without an identifiable currency are taken as euros.
Turnover
€85,986
EBIT margin
-6.7%
Net result
€33,951▲ 41.7%
2024 · €23,966
Working capital
€163,705▲ 23.1%
2024 · €132,981
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
€50,245
▲ 48.4%
2025
20182025
Net result
€33,951
▲ 41.7%
2025
highest quarter of the sector
20182025
EBIT margin
no figure
2025
20182025
Equity
€183,451
▲ 22.7%
2025
highest quarter of the sector
20182025
Total assets
€207,111
▲ 4.7%
2025
middle half of the sector
20182025
Debt
€23,659
▼ 51.0%
2025
20182025
Working capital
€163,705
▲ 23.1%
2025
highest quarter of the sector
20182025
Solvency
88.6%
▲ 13.0pp
2025
highest quarter of the sector
20182025
Current ratio
8.78
▲ 4.03
2025
highest quarter of the sector
20182025
Return on assets (ROA)
16.4%
▲ 4.3pp
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€85,986-
Operating result-€5,731-€13,621€53,771▲ 295%€46,111▼ 14.2%€46,086▼ 0.1%€28,252▼ 38.7%€33,860▲ 19.8%€50,245▲ 48.4%
Net result-€5,886-€9,624€34,915above the sector's middle half▲ 263%€29,163above the sector's middle half▼ 16.5%€30,501above the sector's middle half▲ 4.6%€19,895within the sector's middle half▼ 34.8%€23,966above the sector's middle half▲ 20.5%€33,951above the sector's middle half▲ 41.7%
EBIT margin-6.7%-
Equity€20,940-€28,940▲ 38.2%€63,855within the sector's middle half▲ 121%€93,017within the sector's middle half▲ 45.7%€122,081above the sector's middle half▲ 31.2%€139,244above the sector's middle half▲ 14.1%€149,500above the sector's middle half▲ 7.4%€183,451above the sector's middle half▲ 22.7%
Total assets€25,251-€58,964▲ 134%€97,181within the sector's middle half▲ 64.8%€124,016within the sector's middle half▲ 27.6%€133,783within the sector's middle half▲ 7.9%€151,908within the sector's middle half▲ 13.5%€197,737within the sector's middle half▲ 30.2%€207,111within the sector's middle half▲ 4.7%
Debt€4,311-€30,025▲ 596%€33,326▲ 11.0%€30,998▼ 7.0%€11,702▼ 62.3%€12,664▲ 8.2%€48,237▲ 281%€23,659▼ 51.0%
Working capital€20,940-€9,074▼ 56.7%€48,955within the sector's middle half▲ 440%€83,084within the sector's middle half▲ 69.7%€117,115above the sector's middle half▲ 41.0%€139,244above the sector's middle half▲ 18.9%€132,981above the sector's middle half▼ 4.5%€163,705above the sector's middle half▲ 23.1%
Solvency82.9%-49.1%▼ 33.8pp65.7%above the sector's middle half▲ 16.6pp75.0%above the sector's middle half▲ 9.3pp91.3%above the sector's middle half▲ 16.2pp91.7%above the sector's middle half▲ 0.4pp75.6%above the sector's middle half▼ 16.1pp88.6%above the sector's middle half▲ 13.0pp
Current ratio5.86-1.30▼ 4.552.47within the sector's middle half▲ 1.173.68above the sector's middle half▲ 1.2111.01above the sector's middle half▲ 7.3312.00above the sector's middle half▲ 0.994.75above the sector's middle half▼ 7.248.78above the sector's middle half▲ 4.03
Return on assets (ROA)-23.3%-16.3%▲ 39.6pp35.9%above the sector's middle half▲ 19.6pp23.5%above the sector's middle half▼ 12.4pp22.8%above the sector's middle half▼ 0.7pp13.1%above the sector's middle half▼ 9.7pp12.1%within the sector's middle half▼ 1.0pp16.4%above the sector's middle half▲ 4.3pp
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). 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 48% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €207,111
Fixed assets
€22,371 ▼ 23.7%
Current assets
€184,740 ▲ 9.7%
Equity and liabilities €207,111
Equity
€183,451 ▲ 22.7%
Debt
€23,659 ▼ 51.0%
Debt's share of the balance-sheet total falls from 24.4% to 11.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€57,208▲
2024 · €39,338
Cash flow
€40,914▲
2024 · €29,445
Debt to equity
0.13▼
2024 · 0.32
ROE
18.5%▲
2024 · 16.0%
Interest coverage
54.74▲
2024 · 31.41
Debt ≤ 1 year
€21,034▼
2024 · €35,423
Debt > 1 year
€2,625▼
2024 · €12,815
Income taxes
€16,298▲
2024 · €9,219
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 | - | - | - | €34,812 | - |
| Depreciation and write-downs of the year | €4,966 | €4,966 | €4,966 | €5,479 | €6,962 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €85,986 | - | - | - | - | - | - | - | - |
| Non-recurring operating income76A | - | - | - | - | - | - | €8,000 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,779 | €4,966 | €4,966 | €4,966 | €4,966 | €4,966 | €5,479 | €6,962 | ▲ 27.1% |
| Other operating charges640/8 | - | - | - | €902 | €1,058 | €2,508 | €2,153 | €705 | ▼ 67.2% |
| Gross operating margin9900 | -€1,033 | €20,570 | €59,621 | €51,979 | €52,110 | €35,727 | €41,491 | €57,913 | ▲ 39.6% |
| Operating profit (loss)9901 | -€5,731 | €13,621 | €53,771 | €46,111 | €46,086 | €28,252 | €33,860 | €50,245 | ▲ 48.4% |
| Financial income75/76B | - | - | - | €224 | €634 | €522 | €579 | €1,049 | ▲ 81.2% |
| Recurring financial income75 | €1 | €12 | €1 | €224 | €634 | €522 | €579 | €1,049 | ▲ 81.2% |
| Financial charges65/66B | - | - | - | €661 | €180 | €165 | €1,253 | €1,045 | ▼ 16.6% |
| Recurring financial charges65 | €193 | €125 | €508 | €661 | €180 | €165 | €1,253 | €1,045 | ▼ 16.6% |
| Profit (loss) for the period before taxes9903 | -€5,923 | €13,508 | €53,264 | €45,673 | €46,540 | €28,608 | €33,186 | €50,249 | ▲ 51.4% |
| Income taxes67/77 | -€37 | €3,885 | €18,349 | €16,511 | €16,039 | €8,713 | €9,219 | €16,298 | ▲ 76.8% |
| Profit (loss) for the period9904 | -€5,886 | €9,624 | €34,915 | €29,163 | €30,501 | €19,895 | €23,966 | €33,951 | ▲ 41.7% |
| Profit (loss) for the period to be appropriated9905 | -€5,886 | €9,624 | €34,915 | €29,163 | €30,501 | €19,895 | €23,966 | €33,951 | ▲ 41.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €25,251 | €58,964 | €97,181 | €124,016 | €133,783 | €151,908 | €197,737 | €207,111 | ▲ 4.7% |
| Fixed assets21/28 | - | €19,866 | €14,899 | €9,933 | €4,966 | €0 | €29,333 | €22,371 | ▼ 23.7% |
| Tangible fixed assets22/27 | - | €19,866 | €14,899 | €9,933 | €4,966 | €0 | €29,333 | €22,371 | ▼ 23.7% |
| Furniture and vehicles24 | - | - | - | €9,933 | €4,966 | €0 | €29,333 | €22,371 | ▼ 23.7% |
| Current assets29/58 | €25,251 | €39,098 | €82,282 | €114,083 | €128,816 | €151,908 | €168,404 | €184,740 | ▲ 9.7% |
| Amounts receivable within one year40/41 | €8,193 | €8,346 | €11,175 | €19,425 | €27,144 | €25,478 | €31,904 | €48,798 | ▲ 53.0% |
| Trade receivables40 | - | - | - | €12,410 | €15,772 | €15,874 | €15,018 | €30,816 | ▲ 105% |
| Other amounts receivable41 | - | - | - | €7,015 | €11,372 | €9,604 | €16,886 | €17,982 | ▲ 6.5% |
| Cash at bank and in hand54/58 | €17,058 | €30,752 | €71,107 | €94,465 | €100,231 | €124,989 | €136,500 | €135,720 | ▼ 0.6% |
| Deferred charges and accrued income490/1 | - | - | - | €192 | €1,441 | €1,441 | €0 | €221 | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €25,251 | €58,964 | €97,181 | €124,016 | €133,783 | €151,908 | €197,737 | €207,111 | ▲ 4.7% |
| Equity10/15 | €20,940 | €28,940 | €63,855 | €93,017 | €122,081 | €139,244 | €149,500 | €183,451 | ▲ 22.7% |
| Contributions10/11 | €10,200 | €10,200 | - | €10,200 | €10,200 | €10,200 | €10,200 | €10,200 | = |
| Reserves13 | €6,029 | €18,740 | €53,655 | €82,817 | €111,881 | €129,044 | €139,300 | €173,251 | ▲ 24.4% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €0 | ▼ 100% |
| Reserves not available under the articles1311 | - | - | - | - | - | €1,860 | €1,860 | €0 | ▼ 100% |
| Other1319 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €80,957 | €110,021 | €127,184 | €137,440 | €173,251 | ▲ 26.1% |
| Profit (loss) carried forward14 | €4,711 | - | - | - | - | €0 | €0 | €0 | - |
| Amounts payable17/49 | €4,311 | €30,025 | €33,326 | €30,998 | €11,702 | €12,664 | €48,237 | €23,659 | ▼ 51.0% |
| Amounts payable after more than one year17 | - | - | - | - | - | - | €12,815 | €2,625 | ▼ 79.5% |
| Financial debts170/4 | - | - | - | - | - | - | €12,815 | €2,625 | ▼ 79.5% |
| Amounts payable within one year42/48 | €4,311 | €30,025 | €33,326 | €30,998 | €11,702 | €12,664 | €35,423 | €21,034 | ▼ 40.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €2,110 | - | - | €9,707 | €10,189 | ▲ 5.0% |
| Trade debts44 | €152 | €319 | €85 | €2,563 | €1,319 | €706 | €1,711 | €439 | ▼ 74.3% |
| Suppliers440/4 | - | - | - | €2,563 | €1,319 | €706 | €1,711 | €439 | ▼ 74.3% |
| Taxes, remuneration and social security45 | - | - | - | €26,325 | €8,945 | €9,362 | €10,929 | €10,405 | ▼ 4.8% |
| Taxes450/3 | - | - | - | €26,325 | €8,945 | €9,362 | €10,929 | €10,405 | ▼ 4.8% |
| Other amounts payable47/48 | - | - | - | - | €1,437 | €2,595 | €13,075 | €0 | ▼ 100% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,886 | €9,624 | €34,915 | €29,163 | €30,501 | €19,895 | €23,966 | €33,951 | ▲ 41.7% |
| + Depreciation and write-downs630 | €3,779 | €4,966 | €4,966 | €4,966 | €4,966 | €4,966 | €5,479 | €6,962 | ▲ 27.1% |
| Operating cash flow (approximation) | -€2,107 | €14,590 | €39,882 | €34,129 | €35,467 | €24,861 | €29,445 | €40,914 | ▲ 38.9% |
| Investment in fixed assets (approximation) | - | - | €0 | €0 | €0 | €0 | -€34,812 | €0 | - |
| Change in cash | - | €13,694 | €40,354 | €23,359 | €5,766 | €24,758 | €11,511 | -€780 | - |
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, 31,368 companies had the same profile as ELECTRO SOFT has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ELECTRO SOFT itself: < 0.1% 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 31,368 companies, not a prediction for ELECTRO SOFT. 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 22 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 13-07-2026 | 2026-00285440 | |
| 31-12-2024 | micro format | 08-10-2025 | 2025-00535670 | |
| 31-12-2023 | micro format | 28-08-2024 | 2024-00381614 | |
| 31-12-2022 | micro format | 15-06-2023 | 2023-00137586 | |
| 31-12-2021 | micro format | 17-10-2022 | 2022-20470623 | |
| 31-12-2020 | micro format | 16-08-2021 | 2021-48800163 | |
| 31-12-2019 | micro format | 28-08-2020 | 2020-46200513 | |
| 31-12-2018 | abbreviated format | 30-08-2019 | 2019-60300567 | |
| 31-12-2017 | abbreviated format | 27-06-2018 | 2018-25700227 | |
| 31-12-2016 | abbreviated format | 09-08-2017 | 2017-42000475 |