EROPOLIS
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 07-07-2026 at the NBB all 14 filings
Turnover
≈ €41,000
Estimated: probably between €31,000 and €60,000
Total assets
€15,222▲ 23.3%
2024 · €12,347
Net result
€1,605▼ 62.6%
2024 · €4,293
Working capital
-€9,437▲ 14.5%
2024 · -€11,041
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€1,818
▼ 60.4%
2025
20182025
Net result
€1,605
▼ 62.6%
2025
middle half of the sector
20182025
Equity
-€9,437
▲ 14.5%
2025
lowest quarter of the sector
20182025
Total assets
€15,222
▲ 23.3%
2025
lowest quarter of the sector
20182025
Debt
€24,659
▲ 5.4%
2025
20182025
Working capital
-€9,437
▲ 14.5%
2025
middle half of the sector
20182025
Solvency
-62.0%
▲ 27.4pp
2025
lowest quarter of the sector
20182025
Current ratio
0.62
▲ 0.09
2025
middle half of the sector
20182025
Return on assets (ROA)
10.5%
▼ 24.2pp
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
Operating result-€2,482-€333-€19,595€16,349-€14,323-€20,331▼ 41.9%€4,593€1,818▼ 60.4%
Net result-€2,618-€142-€19,732below the sector's middle half€16,174within the sector's middle half-€14,548below the sector's middle half-€20,470below the sector's middle half▼ 40.7%€4,293within the sector's middle half€1,605within the sector's middle half▼ 62.6%
Equity€23,099-€23,242▲ 0.6%€3,510below the sector's middle half▼ 84.9%€19,684within the sector's middle half▲ 461%€5,136below the sector's middle half▼ 73.9%-€15,335below the sector's middle half-€11,041below the sector's middle half▲ 28.0%-€9,437below the sector's middle half▲ 14.5%
Total assets€25,277-€25,671▲ 1.6%€7,152below the sector's middle half▼ 72.1%€20,038below the sector's middle half▲ 180%€6,755below the sector's middle half▼ 66.3%€5,466below the sector's middle half▼ 19.1%€12,347below the sector's middle half▲ 126%€15,222below the sector's middle half▲ 23.3%
Debt€2,177-€2,430▲ 11.6%€3,642▲ 49.9%€355▼ 90.3%€1,620▲ 357%€20,800▲ 13×€23,389▲ 12.4%€24,659▲ 5.4%
Working capital€20,842-€20,462▼ 1.8%€2,338within the sector's middle half▼ 88.6%€19,227within the sector's middle half▲ 722%€5,136within the sector's middle half▼ 73.3%-€15,335within the sector's middle half-€11,041within the sector's middle half▲ 28.0%-€9,437within the sector's middle half▲ 14.5%
Solvency91.4%-90.5%▼ 0.9pp49.1%within the sector's middle half▼ 41.5pp98.2%above the sector's middle half▲ 49.2pp76.0%above the sector's middle half▼ 22.2pp-280.6%below the sector's middle half▼ 356.6pp-89.4%below the sector's middle half▲ 191.1pp-62.0%below the sector's middle half▲ 27.4pp
Current ratio10.57-9.42▼ 1.151.64within the sector's middle half▼ 7.7855.22above the sector's middle half▲ 53.584.17above the sector's middle half▼ 51.050.26below the sector's middle half▼ 3.910.53within the sector's middle half▲ 0.270.62within the sector's middle half▲ 0.09
Return on assets (ROA)-10.4%-0.6%▲ 10.9pp-275.9%below the sector's middle half▼ 276.5pp80.7%above the sector's middle half▲ 356.6pp-215.4%below the sector's middle half▼ 296.1pp-374.5%below the sector's middle half▼ 159.2pp34.8%above the sector's middle half▲ 409.3pp10.5%above the sector's middle half▼ 24.2pp
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). 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.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Key figures and ratios
Debt ≤ 1 year
€24,659▲
2024 · €23,389
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,050 | €1,151 | €1,608 | €715 | €457 | - | - | - | - |
| Other operating charges640/8 | - | - | - | €348 | €30,980 | €22,517 | €22,610 | €23,319 | ▲ 3.1% |
| Gross operating margin9900 | €17,470 | €20,850 | €1,992 | €17,411 | €17,113 | €2,186 | €27,203 | €25,137 | ▼ 7.6% |
| Operating profit (loss)9901 | -€2,482 | €333 | -€19,595 | €16,349 | -€14,323 | -€20,331 | €4,593 | €1,818 | ▼ 60.4% |
| Financial income75/76B | - | - | - | €0 | - | - | - | - | - |
| Recurring financial income75 | - | - | - | €0 | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €175 | €225 | €139 | €300 | €214 | ▼ 28.8% |
| Recurring financial charges65 | €136 | €191 | €136 | €175 | €225 | €139 | €300 | €214 | ▼ 28.8% |
| Profit (loss) for the period before taxes9903 | -€2,618 | €142 | -€19,732 | €16,174 | -€14,548 | -€20,470 | €4,293 | €1,605 | ▼ 62.6% |
| Profit (loss) for the period9904 | -€2,618 | €142 | -€19,732 | €16,174 | -€14,548 | -€20,470 | €4,293 | €1,605 | ▼ 62.6% |
| Profit (loss) for the period to be appropriated9905 | -€2,618 | €142 | -€19,732 | €16,174 | -€14,548 | -€20,470 | €4,293 | €1,605 | ▼ 62.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €25,277 | €25,671 | €7,152 | €20,038 | €6,755 | €5,466 | €12,347 | €15,222 | ▲ 23.3% |
| Fixed assets21/28 | €2,258 | €2,779 | €1,172 | €457 | - | - | - | - | - |
| Tangible fixed assets22/27 | €2,258 | €2,779 | €1,172 | €457 | - | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €457 | - | - | - | - | - |
| Current assets29/58 | €23,019 | €22,892 | €5,980 | €19,582 | €6,755 | €5,466 | €12,347 | €15,222 | ▲ 23.3% |
| Amounts receivable within one year40/41 | €3,393 | - | €1,053 | €5,965 | - | - | €195 | - | - |
| Trade receivables40 | - | - | - | - | - | - | €195 | - | - |
| Other amounts receivable41 | - | - | - | €5,965 | - | - | - | - | - |
| Cash at bank and in hand54/58 | €19,626 | €22,892 | €4,927 | €13,617 | €6,755 | €5,466 | €12,152 | €15,222 | ▲ 25.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €25,277 | €25,671 | €7,152 | €20,038 | €6,755 | €5,466 | €12,347 | €15,222 | ▲ 23.3% |
| Equity10/15 | €23,099 | €23,242 | €3,510 | €19,684 | €5,136 | -€15,335 | -€11,041 | -€9,437 | ▲ 14.5% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| 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 | = |
| Profit (loss) carried forward14 | €2,639 | €2,782 | -€16,950 | -€776 | -€15,324 | -€35,795 | -€31,501 | -€29,897 | ▲ 5.1% |
| Amounts payable17/49 | €2,177 | €2,430 | €3,642 | €355 | €1,620 | €20,800 | €23,389 | €24,659 | ▲ 5.4% |
| Amounts payable within one year42/48 | €2,177 | €2,430 | €3,642 | €355 | €1,620 | €20,800 | €23,389 | €24,659 | ▲ 5.4% |
| Trade debts44 | €141 | €432 | €3,629 | - | €66 | €2,905 | €3,277 | €234 | ▼ 92.9% |
| Suppliers440/4 | - | - | - | - | €66 | €2,905 | €3,277 | €234 | ▼ 92.9% |
| Taxes, remuneration and social security45 | - | - | - | €355 | €1,495 | €594 | €2,045 | €2,470 | ▲ 20.7% |
| Taxes450/3 | - | - | - | €355 | €1,495 | €594 | €2,045 | €2,470 | ▲ 20.7% |
| Other amounts payable47/48 | - | - | - | - | €58 | €17,302 | €18,066 | €21,955 | ▲ 21.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,618 | €142 | -€19,732 | €16,174 | -€14,548 | -€20,470 | €4,293 | €1,605 | ▼ 62.6% |
| + Depreciation and write-downs630 | €1,050 | €1,151 | €1,608 | €715 | €457 | - | - | - | - |
| Operating cash flow (approximation) | -€1,568 | €1,293 | -€18,124 | €16,889 | -€14,091 | -€20,470 | €4,293 | €1,605 | ▼ 62.6% |
| Investment in fixed assets (approximation) | - | -€1,673 | €0 | €0 | - | - | - | - | - |
| Change in cash | - | €3,266 | -€17,965 | €8,690 | -€6,862 | -€1,290 | €6,686 | €3,070 | ▼ 54.1% |
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, 3,632 companies had the same profile as EROPOLIS has now. Two years later, 91.9% were still going and 2.9% had gone bankrupt.
- Micro
- 10 to 20 years old
- negative equity
- a profit of 5% of the balance sheet or more
91.9%
was still going
4.8%
stopped otherwise
2.9%
went bankrupt
Another 0.4% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of EROPOLIS itself is lower: 0.2% within 12 months. It rests on far more data about EROPOLIS than the profile alone.
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 3,632 companies, not a prediction for EROPOLIS. 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 14 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 07-07-2026 | 2026-00261833 | |
| 31-12-2024 | micro format | 01-07-2025 | 2025-00205181 | |
| 31-12-2023 | micro format | 09-08-2024 | 2024-00336912 | |
| 31-12-2022 | micro format | 28-06-2023 | 2023-00166148 | |
| 31-12-2021 | micro format | 20-07-2022 | 2022-20204037 | |
| 31-12-2020 | micro format | 15-07-2021 | 2021-35800361 | |
| 31-12-2019 | micro format | 17-08-2020 | 2020-41600344 | |
| 31-12-2018 | micro format | 23-08-2019 | 2019-49600542 | |
| 31-12-2017 | micro format | 09-07-2018 | 2018-30300317 | |
| 31-12-2016 | micro format | 26-06-2017 | 2017-21000376 |