ELEVATE
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 08-07-2026 at the NBB all 2 filings
Every figure per financial year
The operating result for 2025 is a loss of €2,178, after a profit of €14,377 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.
Investments
| Item | 2024 | 2025 |
|---|---|---|
| Tangible fixed assets | €10,394 | €33,776 |
| Depreciation and write-downs of the year | €1,927 | €10,016 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,927 | €10,016 | ▲ 420% |
| Other operating charges640/8 | €148 | €829 | ▲ 460% |
| Gross operating margin9900 | €16,452 | €8,667 | ▼ 47.3% |
| Operating profit (loss)9901 | €14,377 | -€2,178 | - |
| Financial income75/76B | - | €736 | - |
| Recurring financial income75 | - | €736 | - |
| Financial charges65/66B | €39 | €339 | ▲ 767% |
| Recurring financial charges65 | €39 | €339 | ▲ 767% |
| Profit (loss) for the period before taxes9903 | €14,338 | -€1,781 | - |
| Income taxes67/77 | €2,880 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €11,458 | -€1,781 | - |
| Profit (loss) for the period to be appropriated9905 | €11,458 | -€1,781 | - |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €20,497 | €48,098 | ▲ 135% |
| Fixed assets21/28 | €8,467 | €32,226 | ▲ 281% |
| Tangible fixed assets22/27 | €8,467 | €32,226 | ▲ 281% |
| Plant, machinery and equipment23 | €8,467 | €32,226 | ▲ 281% |
| Current assets29/58 | €12,030 | €15,872 | ▲ 31.9% |
| Amounts receivable within one year40/41 | €8,269 | €12,742 | ▲ 54.1% |
| Trade receivables40 | €8,259 | €11,711 | ▲ 41.8% |
| Other amounts receivable41 | €10 | €1,031 | ▲ 108× |
| Cash at bank and in hand54/58 | €3,761 | €2,662 | ▼ 29.2% |
| Deferred charges and accrued income490/1 | - | €468 | - |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €20,497 | €48,098 | ▲ 135% |
| Equity10/15 | €13,958 | €12,177 | ▼ 12.8% |
| Contributions10/11 | €2,500 | €2,500 | = |
| Reserves13 | €11,458 | €9,677 | ▼ 15.5% |
| Distributable reserves133 | €11,458 | €9,677 | ▼ 15.5% |
| Amounts payable17/49 | €6,539 | €35,921 | ▲ 449% |
| Amounts payable after more than one year17 | - | €14,444 | - |
| Financial debts170/4 | - | €14,444 | - |
| Amounts payable within one year42/48 | €6,539 | €21,476 | ▲ 228% |
| Current portion of amounts payable after more than one year42 | - | €4,775 | - |
| Trade debts44 | €168 | €9,182 | ▲ 55× |
| Suppliers440/4 | €168 | €9,182 | ▲ 55× |
| Taxes, remuneration and social security45 | €4,995 | €5,527 | ▲ 10.7% |
| Taxes450/3 | €4,995 | €5,527 | ▲ 10.7% |
| Other amounts payable47/48 | €1,376 | €1,992 | ▲ 44.8% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €11,458 | -€1,781 | - |
| + Depreciation and write-downs630 | €1,927 | €10,016 | ▲ 420% |
| Operating cash flow (approximation) | €13,385 | €8,235 | ▼ 38.5% |
| Investment in fixed assets (approximation) | - | -€33,776 | - |
| Change in cash | - | -€1,100 | - |
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, 1,271 companies had the same profile as ELEVATE has now. Two years later, 93.5% were still going and 4.1% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a small loss
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ELEVATE itself: 2.6% 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 1,271 companies, not a prediction for ELEVATE. 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.