Engineering & Operational Services and Solution
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 12-06-2026 PDF all 10 filings
Turnover
≈ €120,000
Estimated: probably between €91,000 and €160,000
Total assets
€230,498▲ 16.3%
2024 · €198,155
Net result
€31,207▼ 59.7%
2024 · €77,531
Working capital
€69,872▲ 23.7%
2024 · €56,502
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€38,806
▼ 59.9%
2025
20182025
Net result
€31,207
▼ 59.7%
2025
middle half of the sector
20182025
Equity
€106,914
=
2025
middle half of the sector
20182025
Total assets
€230,498
▲ 16.3%
2025
middle half of the sector
20182025
Debt
€123,584
▲ 35.4%
2025
20182025
Working capital
€69,872
▲ 23.7%
2025
middle half of the sector
20182025
Solvency
46.4%
▼ 7.6pp
2025
middle half of the sector
20182025
Current ratio
1.57
▼ 0.06
2025
middle half of the sector
20182025
Return on assets (ROA)
13.5%
▼ 25.6pp
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€97,366-€86,157▼ 11.5%€92,392▲ 7.2%€107,595▲ 16.5%€119,399▲ 11.0%€131,464▲ 10.1%€96,791▼ 26.4%€38,806▼ 59.9%
Net result€69,101-€66,853▼ 3.3%€71,767above the sector's middle half▲ 7.4%€83,494above the sector's middle half▲ 16.3%€92,551above the sector's middle half▲ 10.8%€103,419above the sector's middle half▲ 11.7%€77,531above the sector's middle half▼ 25.0%€31,207within the sector's middle half▼ 59.7%
Equity€101,038-€113,438▲ 12.3%€106,914within the sector's middle half▼ 5.8%€106,914within the sector's middle half=€106,914within the sector's middle half=€106,914within the sector's middle half=€106,914within the sector's middle half=€106,914within the sector's middle half=
Total assets€162,918-€213,799▲ 31.2%€216,984within the sector's middle half▲ 1.5%€220,311within the sector's middle half▲ 1.5%€224,041within the sector's middle half▲ 1.7%€239,553within the sector's middle half▲ 6.9%€198,155within the sector's middle half▼ 17.3%€230,498within the sector's middle half▲ 16.3%
Debt€61,880-€100,360▲ 62.2%€110,070▲ 9.7%€113,397▲ 3.0%€117,127▲ 3.3%€132,639▲ 13.2%€91,241▼ 31.2%€123,584▲ 35.4%
Working capital€77,429-€92,915▲ 20.0%€94,820within the sector's middle half▲ 2.1%€103,635within the sector's middle half▲ 9.3%€103,532within the sector's middle half▼ 0.1%€45,959within the sector's middle half▼ 55.6%€56,502within the sector's middle half▲ 22.9%€69,872within the sector's middle half▲ 23.7%
Solvency62.0%-53.1%▼ 9.0pp49.3%within the sector's middle half▼ 3.8pp48.5%within the sector's middle half▼ 0.7pp47.7%within the sector's middle half▼ 0.8pp44.6%within the sector's middle half▼ 3.1pp54.0%within the sector's middle half▲ 9.3pp46.4%within the sector's middle half▼ 7.6pp
Current ratio2.55-1.97▼ 0.581.86within the sector's middle half▼ 0.111.92within the sector's middle half▲ 0.051.89within the sector's middle half▼ 0.031.35within the sector's middle half▼ 0.541.63within the sector's middle half▲ 0.281.57within the sector's middle half▼ 0.06
Return on assets (ROA)42.4%-31.3%▼ 11.1pp33.1%above the sector's middle half▲ 1.8pp37.9%above the sector's middle half▲ 4.8pp41.3%above the sector's middle half▲ 3.4pp43.2%above the sector's middle half▲ 1.9pp39.1%above the sector's middle half▼ 4.0pp13.5%within the sector's middle half▼ 25.6pp
above
within
below
The sector band is the middle half of the companies in Architectural and engineering activities; technical testing and analysis (NACE 71). 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 60% lower than in 2024 and the lowest since 2021. It is the second fall in a row.
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 €230,498
Fixed assets
€37,355 ▼ 27.6%
Current assets
€193,143 ▲ 31.8%
Equity and liabilities €230,498
Equity
€106,914 =
Debt
€123,584 ▲ 35.4%
Debt's share of the balance-sheet total rises from 46.0% to 53.6%. Debt is higher.
Key figures and ratios
EBITDA
€54,331▼
2024 · €111,800
Cash flow
€46,732▼
2024 · €92,540
Debt to equity
1.16▲
2024 · 0.85
ROE
29.2%▼
2024 · 72.5%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€123,271▲
2024 · €90,067
Income taxes
€8,901▼
2024 · €20,897
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 | €578 | €1,492 | €68,492 | €4,116 | €1,293 |
| Depreciation and write-downs of the year | €9,094 | €1,012 | €10,130 | €15,009 | €15,525 |
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 | - | - | - | - | - | €9,500 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,872 | €12,968 | €12,867 | €9,094 | €1,012 | €10,130 | €15,009 | €15,525 | ▲ 3.4% |
| Other operating charges640/8 | - | - | - | €1,066 | €1,106 | €1,331 | €900 | €936 | ▲ 4.0% |
| Gross operating margin9900 | €112,340 | €100,179 | €106,086 | €117,755 | €121,518 | €142,926 | €112,700 | €55,267 | ▼ 51.0% |
| Operating profit (loss)9901 | €97,366 | €86,157 | €92,392 | €107,595 | €119,399 | €131,464 | €96,791 | €38,806 | ▼ 59.9% |
| Financial income75/76B | - | - | - | €1 | €10 | €927 | €1,918 | €1,478 | ▼ 23.0% |
| Recurring financial income75 | - | - | €0 | €1 | €10 | €927 | €1,918 | €1,478 | ▼ 23.0% |
| Financial charges65/66B | - | - | - | €102 | €108 | €112 | €281 | €176 | ▼ 37.4% |
| Recurring financial charges65 | €417 | €300 | €282 | €102 | €108 | €112 | €281 | €176 | ▼ 37.4% |
| Profit (loss) for the period before taxes9903 | €96,950 | €85,857 | €92,110 | €107,494 | €119,301 | €132,279 | €98,428 | €40,108 | ▼ 59.3% |
| Income taxes67/77 | €27,849 | €19,003 | €20,343 | €24,000 | €26,751 | €28,860 | €20,897 | €8,901 | ▼ 57.4% |
| Profit (loss) for the period9904 | €69,101 | €66,853 | €71,767 | €83,494 | €92,551 | €103,419 | €77,531 | €31,207 | ▼ 59.7% |
| Profit (loss) for the period to be appropriated9905 | €69,101 | €66,853 | €71,767 | €83,494 | €92,551 | €103,419 | €77,531 | €31,207 | ▼ 59.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €162,918 | €213,799 | €216,984 | €220,311 | €224,041 | €239,553 | €198,155 | €230,498 | ▲ 16.3% |
| Fixed assets21/28 | €35,554 | €25,020 | €12,154 | €3,638 | €4,118 | €62,480 | €51,587 | €37,355 | ▼ 27.6% |
| Tangible fixed assets22/27 | €35,554 | €25,020 | €12,154 | €3,638 | €4,118 | €62,480 | €51,587 | €37,355 | ▼ 27.6% |
| Furniture and vehicles24 | - | - | - | €1,481 | €2,366 | €61,132 | €50,644 | €36,817 | ▼ 27.3% |
| Other tangible fixed assets26 | - | - | - | €2,157 | €1,752 | €1,348 | €943 | €538 | ▼ 43.0% |
| Current assets29/58 | €127,364 | €188,778 | €204,830 | €216,673 | €219,923 | €177,073 | €146,568 | €193,143 | ▲ 31.8% |
| Amounts receivable after more than one year29 | - | - | - | - | - | €30,000 | €30,000 | €30,000 | = |
| Trade receivables290 | - | - | - | - | - | €30,000 | €30,000 | €30,000 | = |
| Amounts receivable within one year40/41 | €37,656 | €33,593 | €34,432 | €41,082 | €55,381 | €50,048 | €34,132 | €66,923 | ▲ 96.1% |
| Trade receivables40 | - | - | - | €38,082 | €55,381 | €49,194 | €7,771 | €50,309 | ▲ 547% |
| Other amounts receivable41 | - | - | - | €3,000 | - | €855 | €26,362 | €16,614 | ▼ 37.0% |
| Cash at bank and in hand54/58 | €88,433 | €153,391 | €168,850 | €173,412 | €162,153 | €94,483 | €78,079 | €91,224 | ▲ 16.8% |
| Deferred charges and accrued income490/1 | - | - | - | €2,178 | €2,389 | €2,542 | €4,357 | €4,997 | ▲ 14.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €162,918 | €213,799 | €216,984 | €220,311 | €224,041 | €239,553 | €198,155 | €230,498 | ▲ 16.3% |
| Equity10/15 | €101,038 | €113,438 | €106,914 | €106,914 | €106,914 | €106,914 | €106,914 | €106,914 | = |
| Contributions10/11 | €6,200 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €94,838 | €94,838 | €88,314 | €88,314 | €88,314 | €88,314 | €88,314 | €88,314 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €86,454 | €86,454 | €86,454 | €86,454 | €86,454 | = |
| Amounts payable17/49 | €61,880 | €100,360 | €110,070 | €113,397 | €117,127 | €132,639 | €91,241 | €123,584 | ▲ 35.4% |
| Amounts payable after more than one year17 | €11,703 | €4,343 | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €49,935 | €95,864 | €110,011 | €113,038 | €116,391 | €131,114 | €90,067 | €123,271 | ▲ 36.9% |
| Trade debts44 | €2,118 | €4,607 | €438 | €965 | €3,189 | €911 | €823 | €863 | ▲ 4.9% |
| Suppliers440/4 | - | - | - | €965 | €3,189 | €911 | €823 | €863 | ▲ 4.9% |
| Taxes, remuneration and social security45 | - | - | - | €31,102 | €29,677 | €31,027 | €12,275 | €22,224 | ▲ 81.1% |
| Taxes450/3 | - | - | - | €28,122 | €26,697 | €28,047 | €12,275 | €18,224 | ▲ 48.5% |
| Remuneration and social security454/9 | - | - | - | €2,980 | €2,980 | €2,980 | - | €4,000 | - |
| Other amounts payable47/48 | - | - | - | €80,971 | €83,524 | €99,176 | €76,969 | €100,184 | ▲ 30.2% |
| Accrued charges and deferred income492/3 | - | - | - | €359 | €737 | €1,525 | €1,174 | €313 | ▼ 73.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €69,101 | €66,853 | €71,767 | €83,494 | €92,551 | €103,419 | €77,531 | €31,207 | ▼ 59.7% |
| + Depreciation and write-downs630 | €12,872 | €12,968 | €12,867 | €9,094 | €1,012 | €10,130 | €15,009 | €15,525 | ▲ 3.4% |
| Operating cash flow (approximation) | €81,973 | €79,821 | €84,634 | €92,588 | €93,563 | €113,549 | €92,540 | €46,732 | ▼ 49.5% |
| Investment in fixed assets (approximation) | - | -€2,434 | €0 | -€578 | -€1,492 | -€68,492 | -€4,116 | -€1,293 | ▲ 68.6% |
| Change in cash | - | €64,958 | €15,459 | €4,562 | -€11,260 | -€67,670 | -€16,404 | €13,145 | - |
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, 34,693 companies had the same profile as Engineering & Operational Services and Solution has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of Engineering & Operational Services and Solution 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 34,693 companies, not a prediction for Engineering & Operational Services and Solution. 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 (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 12-06-2026 | 2026-00156235 | |
| 31-12-2024 | micro format | 30-06-2025 | 2025-00199367 | |
| 31-12-2023 | micro format | 12-06-2024 | 2024-00124122 | |
| 31-12-2022 | micro format | 28-07-2023 | 2023-00284763 | |
| 31-12-2021 | micro format | 22-06-2022 | 2022-20087633 | |
| 31-12-2020 | micro format | 23-06-2021 | 2021-23200416 | |
| 31-12-2019 | micro format | 22-06-2020 | 2020-19000102 | |
| 31-12-2018 | micro format | 29-08-2019 | 2019-54900415 | |
| 31-12-2017 | micro format | 13-07-2018 | 2018-32600034 | |
| 31-12-2016 | abbreviated format | 27-08-2017 | 2017-49800178 |