EPS
ActiveFinancials · financial year 2024, micro format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 4 November 2026.
Annual accounts 2024 filed on 08-09-2025 PDF all 6 filings
Turnover
≈ €130,000
Estimated: probably between €78,000 and €230,000
Total assets
€116,291▲ 16.8%
2023 · €99,534
Net result
€19,267▼ 34.6%
2023 · €29,457
Working capital
€83,131▲ 8.0%
2023 · €76,947
Multi-year overview
2019 to 2024, 6 financial yearsOperating result
€26,959
▼ 25.6%
2024
20192024
Net result
€19,267
▼ 34.6%
2024
middle half of the sector
20192024
Equity
€103,725
▲ 22.8%
2024
middle half of the sector
20192024
Total assets
€116,291
▲ 16.8%
2024
middle half of the sector
20192024
Debt
€12,566
▼ 16.7%
2024
20192024
Working capital
€83,131
▲ 8.0%
2024
middle half of the sector
20192024
Solvency
89.2%
▲ 4.3pp
2024
highest quarter of the sector
20192024
Current ratio
7.62
▲ 1.51
2024
highest quarter of the sector
20192024
Return on assets (ROA)
16.6%
▼ 13.0pp
2024
middle half of the sector
20192024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201920202021202220232024
Operating result€37,076-€31,872▼ 14.0%€40,983▲ 28.6%€12,156▼ 70.3%€36,212▲ 198%€26,959▼ 25.6%
Net result€28,435-€23,955within the sector's middle half▼ 15.8%€31,344within the sector's middle half▲ 30.8%€8,667within the sector's middle half▼ 72.3%€29,457within the sector's middle half▲ 240%€19,267within the sector's middle half▼ 34.6%
Equity€34,635-€58,590within the sector's middle half▲ 69.2%€89,934within the sector's middle half▲ 53.5%€55,001within the sector's middle half▼ 38.8%€84,458within the sector's middle half▲ 53.6%€103,725within the sector's middle half▲ 22.8%
Total assets€83,872-€94,167within the sector's middle half▲ 12.3%€120,840within the sector's middle half▲ 28.3%€67,104within the sector's middle half▼ 44.5%€99,534within the sector's middle half▲ 48.3%€116,291within the sector's middle half▲ 16.8%
Debt€49,237-€35,577▼ 27.7%€30,906▼ 13.1%€12,103▼ 60.8%€15,076▲ 24.6%€12,566▼ 16.7%
Working capital€23,773-€47,290within the sector's middle half▲ 98.9%€75,522within the sector's middle half▲ 59.7%€42,146within the sector's middle half▼ 44.2%€76,947within the sector's middle half▲ 82.6%€83,131within the sector's middle half▲ 8.0%
Solvency41.3%-62.2%within the sector's middle half▲ 20.9pp74.4%above the sector's middle half▲ 12.2pp82.0%above the sector's middle half▲ 7.5pp84.9%above the sector's middle half▲ 2.9pp89.2%above the sector's middle half▲ 4.3pp
Current ratio2.01-3.30above the sector's middle half▲ 1.293.81above the sector's middle half▲ 0.514.48above the sector's middle half▲ 0.676.10above the sector's middle half▲ 1.627.62above the sector's middle half▲ 1.51
Return on assets (ROA)33.9%-25.4%above the sector's middle half▼ 8.5pp25.9%above the sector's middle half▲ 0.5pp12.9%within the sector's middle half▼ 13.0pp29.6%above the sector's middle half▲ 16.7pp16.6%within the sector's middle half▼ 13.0pp
above
within
below
The sector band is the middle half of the companies in Repair, maintenance and installation of machinery and equipment (NACE 33). 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 2024 is 26% lower than in 2023.
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
2024 in colour, 2023 as the grey bar beneath
Assets €116,291
Fixed assets
€20,594 ▲ 174%
Current assets
€95,697 ▲ 4.0%
Equity and liabilities €116,291
Equity
€103,725 ▲ 22.8%
Debt
€12,566 ▼ 16.7%
Debt's share of the balance-sheet total falls from 15.1% to 10.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€31,697▼
2023 · €43,887
Cash flow
€24,005▼
2023 · €37,132
Quick ratio
3.97▼
2023 · 5.19
Debt to equity
0.12▼
2023 · 0.18
ROE
18.6%▼
2023 · 34.9%
Interest coverage
10.83▼
2023 · over 100
Debt ≤ 1 year
€12,566▼
2023 · €15,076
Income taxes
€4,852▼
2023 · €6,751
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Tangible fixed assets | €2,998 | €7,360 | €2,331 | €17,821 |
| Depreciation and write-downs of the year | €10,862 | €8,970 | €7,675 | €4,738 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €2,623 | €16,529 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,931 | €10,345 | €10,862 | €8,970 | €7,675 | €4,738 | ▼ 38.3% |
| Other operating charges640/8 | - | - | €4,826 | €4,482 | €1,675 | €385 | ▼ 77.0% |
| Gross operating margin9900 | €51,056 | €43,297 | €56,671 | €25,607 | €45,562 | €32,082 | ▼ 29.6% |
| Operating profit (loss)9901 | €37,076 | €31,872 | €40,983 | €12,156 | €36,212 | €26,959 | ▼ 25.6% |
| Financial income75/76B | - | - | €1 | €1 | €3 | €87 | ▲ 28× |
| Recurring financial income75 | - | €1 | €1 | €1 | €3 | €87 | ▲ 28× |
| Financial charges65/66B | - | - | €408 | €337 | €8 | €2,927 | ▲ 383× |
| Recurring financial charges65 | €812 | €625 | €408 | €337 | €8 | €2,927 | ▲ 383× |
| Profit (loss) for the period before taxes9903 | €36,264 | €31,248 | €40,576 | €11,820 | €36,208 | €24,119 | ▼ 33.4% |
| Income taxes67/77 | €7,829 | €7,293 | €9,232 | €3,153 | €6,751 | €4,852 | ▼ 28.1% |
| Profit (loss) for the period9904 | €28,435 | €23,955 | €31,344 | €8,667 | €29,457 | €19,267 | ▼ 34.6% |
| Profit (loss) for the period to be appropriated9905 | €28,435 | €23,955 | €31,344 | €8,667 | €29,457 | €19,267 | ▼ 34.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €83,872 | €94,167 | €120,840 | €67,104 | €99,534 | €116,291 | ▲ 16.8% |
| Fixed assets21/28 | €36,664 | €26,319 | €18,454 | €12,856 | €7,511 | €20,594 | ▲ 174% |
| Tangible fixed assets22/27 | €36,514 | €26,169 | €18,304 | €12,706 | €7,361 | €20,444 | ▲ 178% |
| Land and buildings22 | - | - | - | - | - | €12,241 | - |
| Plant, machinery and equipment23 | - | - | €0 | €6,315 | €7,164 | €8,202 | ▲ 14.5% |
| Furniture and vehicles24 | - | - | €2,195 | €1,196 | €197 | €0 | ▼ 100% |
| Leasing and similar rights25 | - | - | €16,109 | €5,194 | - | - | - |
| Financial fixed assets28 | €150 | €150 | €150 | €150 | €150 | €150 | = |
| Current assets29/58 | €47,208 | €67,848 | €102,385 | €54,249 | €92,023 | €95,697 | ▲ 4.0% |
| Stocks and contracts in progress3 | - | - | - | €12,175 | €13,820 | €45,863 | ▲ 232% |
| Stocks30/36 | - | - | - | €12,175 | €13,820 | €45,863 | ▲ 232% |
| Amounts receivable within one year40/41 | €8,352 | €7,301 | €11,115 | €4,859 | €25 | €2,839 | ▲ 114× |
| Trade receivables40 | - | - | €11,115 | - | €25 | €131 | ▲ 425% |
| Other amounts receivable41 | - | - | - | €4,859 | - | €2,708 | - |
| Cash at bank and in hand54/58 | €37,873 | €60,546 | €91,270 | €36,373 | €76,944 | €45,266 | ▼ 41.2% |
| Deferred charges and accrued income490/1 | - | - | - | €842 | €1,234 | €1,730 | ▲ 40.2% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €83,872 | €94,167 | €120,840 | €67,104 | €99,534 | €116,291 | ▲ 16.8% |
| Equity10/15 | €34,635 | €58,590 | €89,934 | €55,001 | €84,458 | €103,725 | ▲ 22.8% |
| Contributions10/11 | €6,200 | - | €6,200 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €28,435 | €52,390 | €83,734 | €36,401 | €65,858 | €85,125 | ▲ 29.3% |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | €81,874 | €34,541 | €65,858 | €85,125 | ▲ 29.3% |
| Amounts payable17/49 | €49,237 | €35,577 | €30,906 | €12,103 | €15,076 | €12,566 | ▼ 16.7% |
| Amounts payable after more than one year17 | €25,801 | €15,019 | €4,042 | - | - | - | - |
| Financial debts170/4 | - | - | €4,042 | - | - | - | - |
| Amounts payable within one year42/48 | €23,436 | €20,558 | €26,863 | €12,103 | €15,076 | €12,566 | ▼ 16.7% |
| Current portion of amounts payable after more than one year42 | - | - | €10,977 | €2,545 | - | - | - |
| Financial debts43 | - | - | - | - | - | €24 | - |
| Credit institutions430/8 | - | - | - | - | - | €24 | - |
| Trade debts44 | €1,743 | €1,159 | €2,701 | €1,730 | €4,161 | €1,974 | ▼ 52.6% |
| Suppliers440/4 | - | - | €2,701 | €1,730 | €4,161 | €1,974 | ▼ 52.6% |
| Advances received on contracts in progress46 | - | - | - | €900 | €900 | €900 | = |
| Taxes, remuneration and social security45 | - | - | €12,993 | €6,639 | €9,997 | €9,040 | ▼ 9.6% |
| Taxes450/3 | - | - | €12,993 | €6,639 | €9,997 | €9,040 | ▼ 9.6% |
| Remuneration and social security454/9 | - | - | €0 | - | - | - | - |
| Other amounts payable47/48 | - | - | €193 | €289 | €19 | €628 | ▲ 34× |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €28,435 | €23,955 | €31,344 | €8,667 | €29,457 | €19,267 | ▼ 34.6% |
| + Depreciation and write-downs630 | €12,931 | €10,345 | €10,862 | €8,970 | €7,675 | €4,738 | ▼ 38.3% |
| Operating cash flow (approximation) | €41,366 | €34,300 | €42,206 | €17,637 | €37,132 | €24,005 | ▼ 35.4% |
| Investment in fixed assets (approximation) | - | €0 | -€2,998 | -€3,371 | -€2,331 | -€17,821 | ▼ 665% |
| Change in cash | - | €22,674 | €30,724 | -€54,897 | €40,571 | -€31,679 | - |
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, 26,972 companies had the same profile as EPS has now. Two years later, 94.9% were still going and 1.6% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
94.9%
was still going
3.4%
stopped otherwise
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of EPS itself: 1.6% 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 26,972 companies, not a prediction for EPS. 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 (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | micro format | 08-09-2025 | 2025-00484589 | |
| 31-12-2023 | micro format | 20-07-2024 | 2024-00266541 | |
| 31-12-2022 | micro format | 27-07-2023 | 2023-00275802 | |
| 31-12-2021 | micro format | 20-06-2022 | 2022-20072164 | |
| 31-12-2020 | micro format | 21-06-2021 | 2021-22900387 | |
| 31-12-2019 | micro format | 16-09-2020 | 2020-53600015 |