ESTHETIDENT
ActiveFinancials · financial year 2026, abbreviated format
Annual accounts 2026 filed on 21-10-2026 at the NBB all 25 filings
Turnover
≈ €130,000
Estimated: probably between €93,000 and €180,000
EBIT margin
Not included in this filing
Net result
€31,404▼ 11.6%
2025 · €35,509
Working capital
€153,489▼ 31.7%
2025 · €224,602
Multi-year overview
2019 to 2026, 8 financial yearsOperating result
€41,549
▼ 14.5%
2026
20192026
Net result
€31,404
▼ 11.6%
2026
20192026
Equity
€154,917
▼ 29.8%
2026
20192026
Total assets
€183,030
▼ 28.6%
2026
20192026
Debt
€28,113
▼ 20.8%
2026
20192026
Working capital
€153,489
▼ 31.7%
2026
20192026
Solvency
84.6%
▼ 1.5pp
2026
20192026
Current ratio
6.46
▼ 1.97
2026
20192026
Return on assets (ROA)
17.2%
▲ 3.3pp
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result€13,097-€429▼ 96.7%€27,109▲ 63×€2,084▼ 92.3%€50,005▲ 24×€35,047▼ 29.9%€48,572▲ 38.6%€41,549▼ 14.5%
Net result€6,185--€1,851€17,920within the sector's middle half-€1,368below the sector's middle half€33,512within the sector's middle half€23,312within the sector's middle half▼ 30.4%€35,509within the sector's middle half▲ 52.3%€31,404▼ 11.6%
Equity€157,113-€155,262▼ 1.2%€153,634within the sector's middle half▼ 1.0%€128,435within the sector's middle half▼ 16.4%€161,947within the sector's middle half▲ 26.1%€185,259within the sector's middle half▲ 14.4%€220,768within the sector's middle half▲ 19.2%€154,917▼ 29.8%
Total assets€183,793-€218,009▲ 18.6%€225,469below the sector's middle half▲ 3.4%€193,286below the sector's middle half▼ 14.3%€215,312below the sector's middle half▲ 11.4%€223,404below the sector's middle half▲ 3.8%€256,263below the sector's middle half▲ 14.7%€183,030▼ 28.6%
Debt€26,680-€62,748▲ 135%€71,835▲ 14.5%€64,851▼ 9.7%€53,365▼ 17.7%€38,145▼ 28.5%€35,495▼ 6.9%€28,113▼ 20.8%
Working capital€163,694-€199,232▲ 21.7%€187,359within the sector's middle half▼ 6.0%€157,812within the sector's middle half▼ 15.8%€182,648within the sector's middle half▲ 15.7%€197,598within the sector's middle half▲ 8.2%€224,602within the sector's middle half▲ 13.7%€153,489▼ 31.7%
Solvency85.5%-71.2%▼ 14.3pp68.1%within the sector's middle half▼ 3.1pp66.4%within the sector's middle half▼ 1.7pp75.2%within the sector's middle half▲ 8.8pp82.9%above the sector's middle half▲ 7.7pp86.1%above the sector's middle half▲ 3.2pp84.6%▼ 1.5pp
Current ratio9.77-14.88▲ 5.127.09above the sector's middle half▼ 7.795.74above the sector's middle half▼ 1.357.00above the sector's middle half▲ 1.269.24above the sector's middle half▲ 2.248.43above the sector's middle half▼ 0.816.46▼ 1.97
Return on assets (ROA)3.4%--0.8%▼ 4.2pp7.9%within the sector's middle half▲ 8.8pp-0.7%below the sector's middle half▼ 8.7pp15.6%within the sector's middle half▲ 16.3pp10.4%within the sector's middle half▼ 5.1pp13.9%within the sector's middle half▲ 3.4pp17.2%▲ 3.3pp
above
within
below
The sector band is the middle half of the companies in Human health activities (NACE 86). 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 2026 is 14% lower than in 2025.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €183,030
Fixed assets
€1,428 =
Current assets
€181,602 ▼ 28.7%
Equity and liabilities €183,030
Equity
€154,917 ▼ 29.8%
Debt
€28,113 ▼ 20.8%
Debt's share of the balance-sheet total rises from 13.9% to 15.4%. Equity and debt are lower.
Key figures and ratios
Debt to equity
0.18▲
2025 · 0.16
ROE
20.3%▲
2025 · 16.1%
Debt ≤ 1 year
€28,113▼
2025 · €30,233
Income taxes
€12,985▼
2025 · €16,107
Staff costs
€625▼
2025 · €823
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €1,209 | - | - | - |
| Depreciation and write-downs of the year | €5,168 | €1,157 | €403 | €403 | - |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €3,200 | €880 | €8,613 | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €373 | €348 | €984 | €823 | €625 | ▼ 24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,197 | €369 | €5,168 | €5,168 | €1,157 | €403 | €403 | - | - |
| Other operating charges640/8 | - | - | - | €1,184 | €1,521 | €1,218 | €1,257 | €1,160 | ▼ 7.8% |
| Gross operating margin9900 | €21,575 | €2,250 | €34,201 | €8,809 | €53,031 | €37,653 | €51,055 | €43,333 | ▼ 15.1% |
| Operating profit (loss)9901 | €13,097 | €429 | €27,109 | €2,084 | €50,005 | €35,047 | €48,572 | €41,549 | ▼ 14.5% |
| Financial income75/76B | - | - | - | - | €0 | €470 | €3,880 | €3,568 | ▼ 8.0% |
| Recurring financial income75 | €58 | €1,511 | - | - | €0 | €470 | €3,880 | €3,568 | ▼ 8.0% |
| Financial charges65/66B | - | - | - | €1,889 | €1,268 | €906 | €836 | €728 | ▼ 13.0% |
| Recurring financial charges65 | €2,174 | €2,323 | €1,808 | €1,889 | €1,268 | €906 | €836 | €728 | ▼ 13.0% |
| Profit (loss) for the period before taxes9903 | €10,981 | -€383 | €25,301 | €196 | €48,738 | €34,611 | €51,616 | €44,389 | ▼ 14.0% |
| Income taxes67/77 | €4,796 | €1,468 | €7,381 | €1,563 | €15,226 | €11,299 | €16,107 | €12,985 | ▼ 19.4% |
| Profit (loss) for the period9904 | €6,185 | -€1,851 | €17,920 | -€1,368 | €33,512 | €23,312 | €35,509 | €31,404 | ▼ 11.6% |
| Profit (loss) for the period to be appropriated9905 | €6,185 | -€1,851 | €17,920 | -€1,368 | €33,512 | €23,312 | €35,509 | €31,404 | ▼ 11.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €183,793 | €218,009 | €225,469 | €193,286 | €215,312 | €223,404 | €256,263 | €183,030 | ▼ 28.6% |
| Fixed assets21/28 | €1,428 | €4,428 | €7,350 | €2,182 | €2,234 | €1,831 | €1,428 | €1,428 | = |
| Tangible fixed assets22/27 | €0 | €3,000 | €5,922 | €754 | €806 | €403 | €0 | €0 | = |
| Plant, machinery and equipment23 | - | - | - | €0 | €806 | €403 | €0 | €0 | = |
| Furniture and vehicles24 | - | - | - | €312 | - | - | - | - | - |
| Other tangible fixed assets26 | - | - | - | €442 | - | - | - | - | - |
| Financial fixed assets28 | €1,428 | €1,428 | €1,428 | €1,428 | €1,428 | €1,428 | €1,428 | €1,428 | = |
| Current assets29/58 | €182,365 | €213,581 | €218,119 | €191,104 | €213,078 | €221,572 | €254,835 | €181,602 | ▼ 28.7% |
| Amounts receivable within one year40/41 | €100,796 | €42,184 | €3,672 | €3,672 | €3,672 | €3,672 | €45,345 | €33,421 | ▼ 26.3% |
| Trade receivables40 | - | - | - | €3,672 | €3,672 | €3,672 | €3,672 | €3,672 | = |
| Other amounts receivable41 | - | - | - | - | - | - | €41,674 | €29,749 | ▼ 28.6% |
| Cash at bank and in hand54/58 | €69,625 | €142,799 | €194,577 | €178,846 | €174,027 | €203,647 | €186,823 | €134,226 | ▼ 28.2% |
| Deferred charges and accrued income490/1 | - | - | - | €8,586 | €35,379 | €14,253 | €22,666 | €13,955 | ▼ 38.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €183,793 | €218,009 | €225,469 | €193,286 | €215,312 | €223,404 | €256,263 | €183,030 | ▼ 28.6% |
| Equity10/15 | €157,113 | €155,262 | €153,634 | €128,435 | €161,947 | €185,259 | €220,768 | €154,917 | ▼ 29.8% |
| Contributions10/11 | €12,397 | €12,397 | €12,397 | €12,397 | €12,397 | €12,397 | €12,397 | €12,397 | = |
| Capital10 | - | - | - | €12,397 | €12,397 | - | - | - | - |
| Issued capital100 | - | - | - | €18,592 | €18,592 | - | - | - | - |
| Uncalled capital101 | - | - | - | €6,195 | €6,195 | - | - | - | - |
| Reserves13 | €137,492 | €137,492 | €135,864 | €112,033 | €145,544 | €168,857 | €204,366 | €138,515 | ▼ 32.2% |
| Distributable reserves133 | - | - | - | €112,033 | €145,544 | €168,857 | €204,366 | €138,515 | ▼ 32.2% |
| Profit (loss) carried forward14 | €7,224 | €5,373 | €5,373 | €4,005 | €4,005 | €4,005 | €4,005 | €4,005 | = |
| Amounts payable17/49 | €26,680 | €62,748 | €71,835 | €64,851 | €53,365 | €38,145 | €35,495 | €28,113 | ▼ 20.8% |
| Amounts payable after more than one year17 | €8,009 | €48,399 | €41,074 | €31,560 | €22,936 | €14,170 | €5,263 | - | - |
| Financial debts170/4 | - | - | - | €31,560 | €22,936 | €14,170 | €5,263 | - | - |
| Amounts payable within one year42/48 | €18,671 | €14,349 | €30,761 | €33,292 | €30,430 | €23,974 | €30,233 | €28,113 | ▼ 7.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €9,515 | €8,624 | €8,765 | €8,908 | €13,596 | ▲ 52.6% |
| Trade debts44 | €14 | €4 | €620 | €112 | - | €2,492 | €3,758 | €7,782 | ▲ 107% |
| Suppliers440/4 | - | - | - | €112 | - | €2,492 | €3,758 | €7,782 | ▲ 107% |
| Advances received on contracts in progress46 | - | - | - | - | €806 | €836 | €1,889 | €4,349 | ▲ 130% |
| Taxes, remuneration and social security45 | - | - | - | €5,447 | €15,292 | €11,158 | €15,678 | €2,386 | ▼ 84.8% |
| Taxes450/3 | - | - | - | €5,447 | €15,292 | €11,158 | €15,678 | €2,386 | ▼ 84.8% |
| Other amounts payable47/48 | - | - | - | €18,218 | €5,708 | €724 | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,185 | -€1,851 | €17,920 | -€1,368 | €33,512 | €23,312 | €35,509 | €31,404 | ▼ 11.6% |
| + Depreciation and write-downs630 | €3,197 | €369 | €5,168 | €5,168 | €1,157 | €403 | €403 | - | - |
| Operating cash flow (approximation) | €9,382 | -€1,482 | €23,088 | €3,800 | €34,669 | €23,715 | €35,912 | €31,404 | ▼ 12.6% |
| Investment in fixed assets (approximation) | - | -€3,369 | -€8,089 | €0 | -€1,209 | €0 | €0 | €0 | - |
| Change in cash | - | €73,174 | €51,778 | -€15,731 | -€4,820 | €29,621 | -€16,824 | -€52,598 | ▼ 213% |
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 ESTHETIDENT 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 ESTHETIDENT 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 ESTHETIDENT. 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 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | abbreviated format | 21-10-2026 | 2026-00566677 | |
| 31-03-2025 | full format | 30-10-2025 | 2025-00553348 | |
| 31-03-2024 | full format | 23-10-2024 | 2024-00512298 | |
| 31-03-2023 | full format | 24-10-2023 | 2023-00493827 | |
| 31-03-2022 | full format | 25-10-2022 | 2022-20471487 | |
| 31-03-2021 | full format | 03-11-2021 | 2021-76200434 | |
| 31-03-2020 | full format | 28-10-2020 | 2020-65300048 | |
| 31-03-2019 | full format | 17-10-2019 | 2019-70700007 | |
| 31-03-2018 | full format | 30-10-2018 | 2018-71100352 | |
| 31-03-2017 | full format | 26-09-2017 | 2017-65100300 |