EVIMAGE
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 12-01-2026 PDF all 24 filings
Turnover
≈ €580,000
Estimated: probably between €410,000 and €850,000
Total assets
€617,358▲ 11.7%
2024 · €552,481
Net result
€103,070▲ 2.4%
2024 · €100,633
Working capital
€115,775▲ 14×
2024 · €8,151
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€248,070
▲ 3.3%
2025
20192025
Net result
€103,070
▲ 2.4%
2025
20192025
Equity
€373,240
▲ 38.2%
2025
20192025
Total assets
€617,358
▲ 11.7%
2025
20192025
Debt
€142,440
▼ 26.6%
2025
20192025
Working capital
€115,775
▲ 14×
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€30,151-€153,627▲ 410%€93,394▼ 39.2%€248,056▲ 166%€166,838▼ 32.7%€240,037▲ 43.9%€248,070▲ 3.3%
Net result-€48,463-€48,423-€31,931€112,366€52,202▼ 53.5%€100,633▲ 92.8%€103,070▲ 2.4%
Equity-€11,523-€36,900€4,969▼ 86.5%€117,335▲ 24×€169,537▲ 44.5%€270,170▲ 59.4%€373,240▲ 38.2%
Total assets€368,900-€420,310▲ 13.9%€421,502▲ 0.3%€497,977▲ 18.1%€489,940▼ 1.6%€552,481▲ 12.8%€617,358▲ 11.7%
Debt€257,300-€288,716▲ 12.2%€291,906▲ 1.1%€301,239▲ 3.2%€233,829▼ 22.4%€194,111▼ 17.0%€142,440▼ 26.6%
Working capital-€14,068--€29,459▼ 109%-€69,043▼ 134%-€66,450▲ 3.8%-€42,103▲ 36.6%€8,151€115,775▲ 14×
The operating result for 2025 is 3% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall 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
2025 in colour, 2024 as the grey bar beneath
Assets €617,358
Fixed assets
€359,144 ▼ 2.0%
Current assets
€258,215 ▲ 38.8%
Equity and liabilities €617,358
Equity
€373,240 ▲ 38.2%
Provisions
€101,679 ▲ 15.3%
Debt
€142,440 ▼ 26.6%
Debt's share of the balance-sheet total falls from 35.1% to 23.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€277,048▲
2024 · €265,770
Cash flow
€132,049▲
2024 · €126,366
Current ratio
1.81▲
2024 · 1.05
Debt to equity
0.38▼
2024 · 0.72
ROE
27.6%▼
2024 · 37.2%
ROA
16.7%▼
2024 · 18.2%
Interest coverage
2.83▲
2024 · 2.71
Debt ≤ 1 year
€142,440▼
2024 · €177,902
Income taxes
€47,177▲
2024 · €41,351
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €48,407 | €19,755 | €39,315 | €21,693 |
| Depreciation and write-downs of the year | €31,502 | €23,464 | €25,734 | €28,978 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €4,200 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €27,881 | €27,804 | €26,284 | €31,502 | €23,464 | €25,734 | €28,978 | ▲ 12.6% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | -€45,225 | €7,171 | €1,627 | €13,478 | ▲ 728% |
| Other operating charges640/8 | - | - | - | €2,079 | €1,924 | €2,045 | €2,151 | ▲ 5.2% |
| Gross operating margin9900 | €113,337 | €157,342 | €151,744 | €236,412 | €199,398 | €269,443 | €292,677 | ▲ 8.6% |
| Operating profit (loss)9901 | €30,151 | €153,627 | €93,394 | €248,056 | €166,838 | €240,037 | €248,070 | ▲ 3.3% |
| Financial income75/76B | - | - | - | - | - | - | €0 | - |
| Recurring financial income75 | €3 | - | €1 | - | - | - | €0 | - |
| Financial charges65/66B | - | - | - | €107,909 | €90,923 | €98,053 | €97,823 | ▼ 0.2% |
| Recurring financial charges65 | €75,186 | €98,350 | €122,501 | €107,909 | €90,923 | €98,053 | €97,823 | ▼ 0.2% |
| Profit (loss) for the period before taxes9903 | -€45,031 | €55,277 | -€29,107 | €140,146 | €75,915 | €141,984 | €150,247 | ▲ 5.8% |
| Income taxes67/77 | €3,432 | €6,854 | €2,825 | €27,780 | €23,713 | €41,351 | €47,177 | ▲ 14.1% |
| Profit (loss) for the period9904 | -€48,463 | €48,423 | -€31,931 | €112,366 | €52,202 | €100,633 | €103,070 | ▲ 2.4% |
| Profit (loss) for the period to be appropriated9905 | -€48,463 | €48,423 | -€31,931 | €112,366 | €52,202 | €100,633 | €103,070 | ▲ 2.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €368,900 | €420,310 | €421,502 | €497,977 | €489,940 | €552,481 | €617,358 | ▲ 11.7% |
| Fixed assets21/28 | €328,150 | €352,738 | €359,652 | €376,557 | €352,847 | €366,429 | €359,144 | ▼ 2.0% |
| Intangible fixed assets21 | - | - | - | - | - | €0 | €0 | - |
| Tangible fixed assets22/27 | €328,100 | €352,688 | €359,602 | €376,507 | €352,797 | €366,379 | €359,094 | ▼ 2.0% |
| Land and buildings22 | - | - | - | €282,625 | €269,800 | €256,975 | €244,150 | ▼ 5.0% |
| Plant, machinery and equipment23 | - | - | - | €2,421 | €11,991 | €48,351 | €55,622 | ▲ 15.0% |
| Furniture and vehicles24 | - | - | - | €26,275 | €4,355 | €2,435 | €1,006 | ▼ 58.7% |
| Other tangible fixed assets26 | - | - | - | €65,186 | €66,651 | €58,619 | €58,316 | ▼ 0.5% |
| Financial fixed assets28 | €50 | €50 | €50 | €50 | €50 | €50 | €50 | = |
| Current assets29/58 | €40,750 | €67,573 | €61,850 | €121,420 | €137,093 | €186,053 | €258,215 | ▲ 38.8% |
| Amounts receivable within one year40/41 | €2,000 | - | €7,175 | €70,232 | €6,520 | - | €3,958 | - |
| Trade receivables40 | - | - | - | €232 | €232 | - | €1,135 | - |
| Other amounts receivable41 | - | - | - | €70,000 | €6,287 | - | €2,823 | - |
| Cash at bank and in hand54/58 | €38,750 | €65,368 | €51,673 | €35,653 | €128,903 | €184,101 | €251,667 | ▲ 36.7% |
| Deferred charges and accrued income490/1 | - | - | - | €15,534 | €1,670 | €1,951 | €2,589 | ▲ 32.7% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €368,900 | €420,310 | €421,502 | €497,977 | €489,940 | €552,481 | €617,358 | ▲ 11.7% |
| Equity10/15 | -€11,523 | €36,900 | €4,969 | €117,335 | €169,537 | €270,170 | €373,240 | ▲ 38.2% |
| Contributions10/11 | €6,200 | - | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €53,788 | €53,788 | €53,788 | €111,135 | €163,337 | €263,970 | €367,040 | ▲ 39.0% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €109,275 | €161,477 | €262,110 | €365,180 | ▲ 39.3% |
| Profit (loss) carried forward14 | -€71,511 | -€23,087 | -€55,019 | - | - | - | - | - |
| Provisions and deferred taxes16 | €123,123 | €94,694 | €124,627 | €79,403 | €86,574 | €88,201 | €101,679 | ▲ 15.3% |
| Provisions for liabilities and charges160/5 | - | - | - | €79,403 | €86,574 | €88,201 | €101,679 | ▲ 15.3% |
| Other liabilities and charges164/5 | - | - | - | €79,403 | €86,574 | €88,201 | €101,679 | ▲ 15.3% |
| Amounts payable17/49 | €257,300 | €288,716 | €291,906 | €301,239 | €233,829 | €194,111 | €142,440 | ▼ 26.6% |
| Amounts payable after more than one year17 | €201,804 | €191,684 | €161,013 | €113,369 | €54,633 | €16,209 | - | - |
| Financial debts170/4 | - | - | - | €113,369 | €54,633 | €16,209 | - | - |
| Amounts payable within one year42/48 | €54,818 | €97,032 | €130,893 | €187,870 | €179,195 | €177,902 | €142,440 | ▼ 19.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €71,256 | €57,676 | €38,425 | €16,209 | ▼ 57.8% |
| Trade debts44 | €3,090 | €3,234 | €2,219 | €2,676 | €21,016 | €2,318 | €2,220 | ▼ 4.2% |
| Suppliers440/4 | - | - | - | €2,676 | €21,016 | €2,318 | €2,220 | ▼ 4.2% |
| Taxes, remuneration and social security45 | - | - | - | €21,380 | €21,380 | €26,343 | €3,600 | ▼ 86.3% |
| Taxes450/3 | - | - | - | €21,380 | €21,380 | €26,343 | €3,600 | ▼ 86.3% |
| Other amounts payable47/48 | - | - | - | €92,558 | €79,124 | €110,817 | €120,411 | ▲ 8.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€48,463 | €48,423 | -€31,931 | €112,366 | €52,202 | €100,633 | €103,070 | ▲ 2.4% |
| + Depreciation and write-downs630 | €27,881 | €27,804 | €26,284 | €31,502 | €23,464 | €25,734 | €28,978 | ▲ 12.6% |
| Operating cash flow (approximation) | -€20,582 | €76,228 | -€5,647 | €143,869 | €75,666 | €126,366 | €132,049 | ▲ 4.5% |
| Investment in fixed assets (approximation) | - | -€52,392 | -€33,198 | -€48,407 | €245 | -€39,315 | -€21,693 | ▲ 44.8% |
| Change in cash | - | €26,618 | -€13,695 | -€16,020 | €93,250 | €55,198 | €67,566 | ▲ 22.4% |
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, 20,136 companies had the same profile as EVIMAGE has now. Two years later, 95.0% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.0%
was still going
4.7%
stopped otherwise
0.2%
went bankrupt
That fits the bankruptcy probability of EVIMAGE 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 20,136 companies, not a prediction for EVIMAGE. 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 24 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 12-01-2026 | 2026-00006041 | |
| 30-06-2024 | micro format | 13-01-2025 | 2025-00003956 | |
| 30-06-2023 | micro format | 29-12-2023 | 2023-00539582 | |
| 30-06-2022 | micro format | 03-01-2023 | 2023-20552841 | |
| 30-06-2021 | micro format | 22-12-2021 | 2021-81700300 | |
| 30-06-2020 | micro format | 01-02-2021 | 2021-04400512 | |
| 30-06-2019 | micro format | 10-02-2020 | 2020-04700500 | |
| 30-06-2018 | micro format | 13-02-2019 | 2019-05000122 | |
| 30-06-2017 | micro format | 12-02-2018 | 2018-04800226 | |
| 30-06-2016 | full format | 17-02-2017 | 2017-04600565 |