EVOBEL
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 31-03-2026 PDF all 17 filings
Turnover
≈ €1.0m
Estimated: probably between €850,000 and €1.8m
Total assets
€2.1m▲ 37.0%
2024 · €1.5m
Net result
€525,488▼ 1.8%
2024 · €535,139
Working capital
€2.0m▲ 35.7%
2024 · €1.4m
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€714,293
▲ 0.1%
2025
20182025
Net result
€525,488
▼ 1.8%
2025
highest quarter of the sector
20182025
Equity
€2.0m
▲ 35.7%
2025
highest quarter of the sector
20182025
Total assets
€2.1m
▲ 37.0%
2025
highest quarter of the sector
20182025
Debt
€128,202
▲ 61.1%
2025
20182025
Working capital
€2.0m
▲ 35.7%
2025
highest quarter of the sector
20182025
Solvency
93.8%
▼ 0.9pp
2025
highest quarter of the sector
20182025
Current ratio
16.26
▼ 2.86
2025
highest quarter of the sector
20182025
Return on assets (ROA)
25.2%
▼ 10.0pp
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-€0.01m--€0.01m▲ 5.0%-€0.03m▼ 118%€0.08m€0.6m▲ 603%€0.7m▲ 17.8%€0.7m▲ 1.8%€0.7m▲ 0.1%
Net result-€0.01m--€0.01m▲ 4.8%-€0.03mbelow the sector's middle half▼ 121%€0.08mabove the sector's middle half€0.4mabove the sector's middle half▲ 423%€0.5mabove the sector's middle half▲ 18.7%€0.5mabove the sector's middle half▲ 10.1%€0.5mabove the sector's middle half▼ 1.8%
Equity€0.1m-€0.1m▼ 11.9%€0.07mwithin the sector's middle half▼ 29.8%€0.1mwithin the sector's middle half▲ 117%€0.6mabove the sector's middle half▲ 282%€0.9mabove the sector's middle half▲ 63.4%€1.4mabove the sector's middle half▲ 59.0%€2.0mabove the sector's middle half▲ 35.7%
Total assets€0.1m-€0.1m▼ 10.7%€0.07mbelow the sector's middle half▼ 29.4%€0.2mwithin the sector's middle half▲ 134%€0.7mabove the sector's middle half▲ 311%€1.0mabove the sector's middle half▲ 49.9%€1.5mabove the sector's middle half▲ 53.9%€2.1mabove the sector's middle half▲ 37.0%
Debt€319-€0.002m▲ 405%€0.002m▼ 4.7%€0.02m▲ 900%€0.1m▲ 582%€0.08m▼ 21.6%€0.08m▼ 2.9%€0.1m▲ 61.1%
Working capital€0.1m-€0.07m▼ 31.8%€0.05mwithin the sector's middle half▼ 32.3%€0.1mwithin the sector's middle half▲ 166%€0.5mabove the sector's middle half▲ 312%€0.9mabove the sector's middle half▲ 65.2%€1.4mabove the sector's middle half▲ 59.6%€2.0mabove the sector's middle half▲ 35.7%
Solvency99.7%-98.3%▼ 1.4pp97.8%above the sector's middle half▼ 0.6pp90.5%above the sector's middle half▼ 7.3pp84.1%above the sector's middle half▼ 6.3pp91.7%above the sector's middle half▲ 7.6pp94.8%above the sector's middle half▲ 3.1pp93.8%above the sector's middle half▼ 0.9pp
Current ratio46.8833.55above the sector's middle half▼ 13.339.66above the sector's middle half▼ 23.896.23above the sector's middle half▼ 3.4312.02above the sector's middle half▲ 5.7919.12above the sector's middle half▲ 7.1016.26above the sector's middle half▼ 2.86
Return on assets (ROA)-12.4%--13.3%▼ 0.8pp-41.5%below the sector's middle half▼ 28.2pp48.8%above the sector's middle half▲ 90.2pp62.1%above the sector's middle half▲ 13.4pp49.2%above the sector's middle half▼ 13.0pp35.2%above the sector's middle half▼ 14.0pp25.2%within the sector's middle half▼ 10.0pp
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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 0% higher than in 2024 and the highest since 2021. It is the fourth rise 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
Equity and liabilities €2.1m
Equity
€2.0m ▲ 35.7%
Debt
€128,202 ▲ 61.1%
Debt's share of the balance-sheet total rises from 5.2% to 6.2%. Equity and debt are higher.
Key figures and ratios
Quick ratio
16.20▼
2024 · 19.04
Debt to equity
0.07▲
2024 · 0.06
ROE
26.9%▼
2024 · 37.1%
Debt ≤ 1 year
€128,202▲
2024 · €79,557
Income taxes
€233,053▲
2024 · €231,929
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 |
|---|---|---|---|---|---|
| Financial fixed assets | €1 | - | - | - | - |
| Depreciation and write-downs of the year | €4,532 | €4,532 | €4,532 | €3,417 | - |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €21 | €1,114 | €4,532 | €4,532 | €4,532 | €4,532 | €3,417 | - | - |
| Other operating charges640/8 | - | - | - | €120 | €256 | €132 | €216 | €294 | ▲ 36.5% |
| Gross operating margin9900 | -€13,409 | -€11,637 | -€23,510 | €89,282 | €599,889 | €705,730 | €717,556 | €714,587 | ▼ 0.4% |
| Operating profit (loss)9901 | -€13,621 | -€12,945 | -€28,228 | €84,630 | €595,102 | €701,066 | €713,923 | €714,293 | ▲ 0.1% |
| Financial income75/76B | - | - | - | €21 | €26 | €6,210 | €55,723 | €49,084 | ▼ 11.9% |
| Recurring financial income75 | €204 | €210 | €75 | €21 | €26 | €6,210 | €55,723 | €49,084 | ▼ 11.9% |
| Financial charges65/66B | - | - | - | €137 | €199 | €981 | €2,578 | €4,836 | ▲ 87.6% |
| Recurring financial charges65 | €73 | €71 | €71 | €137 | €199 | €981 | €2,578 | €4,836 | ▲ 87.6% |
| Profit (loss) for the period before taxes9903 | -€13,491 | -€12,806 | -€28,224 | €84,513 | €594,928 | €706,296 | €767,068 | €758,541 | ▼ 1.1% |
| Income taxes67/77 | - | €43 | €179 | €6,236 | €185,450 | €220,386 | €231,929 | €233,053 | ▲ 0.5% |
| Profit (loss) for the period9904 | -€13,491 | -€12,849 | -€28,403 | €78,278 | €409,478 | €485,910 | €535,139 | €525,488 | ▼ 1.8% |
| Profit (loss) for the period to be appropriated9905 | -€13,491 | -€12,849 | -€28,403 | €78,278 | €409,478 | €485,910 | €535,139 | €525,488 | ▼ 1.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.1m | €0.1m | €0.07m | €0.2m | €0.7m | €1.0m | €1.5m | €2.1m | ▲ 37.0% |
| Fixed assets21/28 | - | €0.02m | €0.02m | €0.01m | €0.008m | €0.003m | - | - | - |
| Tangible fixed assets22/27 | - | €0.02m | €0.02m | €0.01m | €0.008m | €0.003m | - | - | - |
| Furniture and vehicles24 | - | - | - | €0.01m | €0.008m | €0.003m | - | - | - |
| Current assets29/58 | €0.1m | €0.08m | €0.05m | €0.1m | €0.7m | €1.0m | €1.5m | €2.1m | ▲ 37.0% |
| Amounts receivable after more than one year29 | - | - | - | - | - | €0.1m | €0.1m | €0.1m | = |
| Other amounts receivable291 | - | - | - | - | - | €0.1m | €0.1m | €0.1m | = |
| Stocks and contracts in progress3 | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | €0.007m | €0.007m | €0.007m | ▲ 0.4% |
| Stocks30/36 | - | - | - | €0.006m | €0.006m | €0.007m | €0.007m | €0.007m | ▲ 0.4% |
| Amounts receivable within one year40/41 | €0.02m | €0.007m | €0.02m | €0.02m | €0.2m | €0.002m | €0.003m | €24 | ▼ 99.1% |
| Trade receivables40 | - | - | - | €0.02m | €0.2m | €0.002m | €0.003m | - | - |
| Other amounts receivable41 | - | - | - | €40 | €113 | - | - | €24 | - |
| Current investments50/53 | - | - | - | - | - | €0.4m | €1.3m | €1.8m | ▲ 45.8% |
| Cash at bank and in hand54/58 | €0.08m | €0.06m | €0.02m | €0.1m | €0.5m | €0.4m | €0.1m | €0.1m | ▼ 6.7% |
| Deferred charges and accrued income490/1 | - | - | - | €0.002m | €0.001m | €0.002m | €0.002m | €0.002m | ▲ 3.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.1m | €0.1m | €0.07m | €0.2m | €0.7m | €1.0m | €1.5m | €2.1m | ▲ 37.0% |
| Equity10/15 | €0.1m | €0.1m | €0.07m | €0.1m | €0.6m | €0.9m | €1.4m | €2.0m | ▲ 35.7% |
| Contributions10/11 | €0.03m | €0.03m | - | €0.03m | €0.03m | - | - | - | - |
| Reserves13 | €0.1m | €0.1m | €0.1m | €0.1m | €0.5m | €0.9m | €1.4m | €2.0m | ▲ 35.7% |
| Non-distributable reserves130/1 | - | - | - | €0.004m | €0.004m | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.004m | €0.004m | - | - | - | - |
| Distributable reserves133 | - | - | - | €0.1m | €0.5m | €0.9m | €1.4m | €2.0m | ▲ 35.7% |
| Profit (loss) carried forward14 | -€0.03m | -€0.04m | -€0.07m | - | - | - | - | - | - |
| Amounts payable17/49 | €319 | €0.002m | €0.002m | €0.02m | €0.1m | €0.08m | €0.08m | €0.1m | ▲ 61.1% |
| Amounts payable within one year42/48 | €319 | €0.002m | €0.002m | €0.02m | €0.1m | €0.08m | €0.08m | €0.1m | ▲ 61.1% |
| Trade debts44 | €244 | €0.001m | €0.001m | €0.001m | €0.001m | €448 | €0.002m | €0.002m | ▲ 37.9% |
| Suppliers440/4 | - | - | - | €0.001m | €0.001m | €448 | €0.002m | €0.002m | ▲ 37.9% |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0.1m | €0.08m | €0.08m | €0.1m | ▲ 61.6% |
| Taxes450/3 | - | - | - | €0.01m | €0.1m | €0.08m | €0.08m | €0.1m | ▲ 61.6% |
| Remuneration and social security454/9 | - | - | - | €0.003m | €0.003m | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €354 | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€13,491 | -€12,849 | -€28,403 | €78,278 | €409,478 | €485,910 | €535,139 | €525,488 | ▼ 1.8% |
| + Depreciation and write-downs630 | €21 | €1,114 | €4,532 | €4,532 | €4,532 | €4,532 | €3,417 | - | - |
| Operating cash flow (approximation) | -€13,470 | -€11,734 | -€23,872 | €82,810 | €414,010 | €490,442 | €538,556 | €525,488 | ▼ 2.4% |
| Investment in fixed assets (approximation) | - | - | €0 | €0 | €0 | €0 | - | - | - |
| Change in cash | - | -€22,779 | -€40,572 | €104,638 | €347,483 | -€61,940 | -€274,403 | -€9,179 | ▲ 96.7% |
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, 17,811 companies had the same profile as EVOBEL has now. Two years later, 96.5% were still going and 0.3% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
96.5%
was still going
3.1%
stopped otherwise
0.3%
went bankrupt
That fits the bankruptcy probability of EVOBEL 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 17,811 companies, not a prediction for EVOBEL. 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 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-03-2026 | 2026-00070531 | |
| 31-12-2024 | micro format | 10-03-2025 | 2025-00046557 | |
| 31-12-2023 | micro format | 28-03-2024 | 2024-00054353 | |
| 31-12-2022 | micro format | 05-04-2023 | 2023-00055328 | |
| 31-12-2021 | micro format | 20-05-2022 | 2022-20032719 | |
| 31-12-2020 | micro format | 23-04-2021 | 2021-11200125 | |
| 31-12-2019 | micro format | 29-07-2020 | 2020-38600562 | |
| 31-12-2018 | micro format | 24-05-2019 | 2019-14400114 | |
| 31-12-2017 | micro format | 13-07-2018 | 2018-33100345 | |
| 31-12-2016 | micro format | 04-04-2017 | 2017-08800053 |