EXPERIENCE@WORK
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 30-06-2026 at the NBB all 11 filings
Turnover
≈ €150,000
Estimated: probably between €110,000 and €230,000
Total assets
€451,064▲ 11.6%
2024 · €404,094
Net result
€55,172▼ 58.3%
2024 · €132,251
Working capital
€398,585▲ 16.1%
2024 · €343,412
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€74,196
▼ 46.2%
2025
20182025
Net result
€55,172
▼ 58.3%
2025
middle half of the sector
20182025
Equity
€398,585
▲ 16.1%
2025
middle half of the sector
20182025
Total assets
€451,064
▲ 11.6%
2025
middle half of the sector
20182025
Debt
€52,479
▼ 13.5%
2025
20182025
Working capital
€398,585
▲ 16.1%
2025
highest quarter of the sector
20182025
Solvency
88.4%
▲ 3.4pp
2025
highest quarter of the sector
20182025
Current ratio
8.60
▲ 1.94
2025
highest quarter of the sector
20182025
Return on assets (ROA)
12.2%
▼ 20.5pp
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€57,738--€6,308-€51,235▼ 712%-€6,327▲ 87.7%€24,354€47,506▲ 95.1%€137,819▲ 190%€74,196▼ 46.2%
Net result€57,679--€6,532-€51,295below the sector's middle half▼ 685%-€6,386below the sector's middle half▲ 87.5%€24,278within the sector's middle half€47,434within the sector's middle half▲ 95.4%€132,251within the sector's middle half▲ 179%€55,172within the sector's middle half▼ 58.3%
Equity€203,664-€197,131▼ 3.2%€145,836within the sector's middle half▼ 26.0%€139,450within the sector's middle half▼ 4.4%€163,727within the sector's middle half▲ 17.4%€211,162within the sector's middle half▲ 29.0%€343,412within the sector's middle half▲ 62.6%€398,585within the sector's middle half▲ 16.1%
Total assets€246,806-€285,450▲ 15.7%€184,762within the sector's middle half▼ 35.3%€234,807within the sector's middle half▲ 27.1%€229,328below the sector's middle half▼ 2.3%€272,238below the sector's middle half▲ 18.7%€404,094within the sector's middle half▲ 48.4%€451,064within the sector's middle half▲ 11.6%
Debt€43,143-€88,319▲ 105%€38,926▼ 55.9%€95,358▲ 145%€65,601▼ 31.2%€61,076▼ 6.9%€60,681▼ 0.6%€52,479▼ 13.5%
Working capital€203,069-€197,015▼ 3.0%€145,836above the sector's middle half▼ 26.0%€139,797above the sector's middle half▼ 4.1%€174,795within the sector's middle half▲ 25.0%€211,162within the sector's middle half▲ 20.8%€343,412within the sector's middle half▲ 62.6%€398,585above the sector's middle half▲ 16.1%
Solvency82.5%-69.1%▼ 13.5pp78.9%above the sector's middle half▲ 9.9pp59.4%within the sector's middle half▼ 19.5pp71.4%within the sector's middle half▲ 12.0pp77.6%within the sector's middle half▲ 6.2pp85.0%above the sector's middle half▲ 7.4pp88.4%above the sector's middle half▲ 3.4pp
Current ratio5.71-3.23▼ 2.484.75above the sector's middle half▲ 1.522.47within the sector's middle half▼ 2.284.21above the sector's middle half▲ 1.734.46above the sector's middle half▲ 0.256.66above the sector's middle half▲ 2.208.60above the sector's middle half▲ 1.94
Return on assets (ROA)23.4%--2.3%▼ 25.7pp-27.8%below the sector's middle half▼ 25.5pp-2.7%below the sector's middle half▲ 25.0pp10.6%within the sector's middle half▲ 13.3pp17.4%above the sector's middle half▲ 6.8pp32.7%above the sector's middle half▲ 15.3pp12.2%within the sector's middle half▼ 20.5pp
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 46% lower than in 2024.
Turnover and EBIT margin are not published. The abbreviated or 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 €451,064
Equity
€398,585 ▲ 16.1%
Debt
€52,479 ▼ 13.5%
Debt's share of the balance-sheet total falls from 15.0% to 11.6%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
0.13▼
2024 · 0.18
ROE
13.8%▼
2024 · 38.5%
Debt ≤ 1 year
€52,479▼
2024 · €60,681
Income taxes
€18,827▲
2024 · €5,213
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 | €478 | €478 | €116 | €0 | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €449 | €529 | €620 | €581 | €1,256 | ▲ 116% |
| Gross operating margin9900 | €58,709 | -€5,354 | -€50,641 | -€5,878 | €24,883 | €48,126 | €138,400 | €75,452 | ▼ 45.5% |
| Operating profit (loss)9901 | €57,738 | -€6,308 | -€51,235 | -€6,327 | €24,354 | €47,506 | €137,819 | €74,196 | ▼ 46.2% |
| Financial income75/76B | - | - | - | - | - | €0 | €0 | €0 | - |
| Recurring financial income75 | €0 | €0 | €0 | - | - | €0 | €0 | €0 | - |
| Financial charges65/66B | - | - | - | €60 | €76 | €72 | €355 | €197 | ▼ 44.5% |
| Recurring financial charges65 | €60 | €225 | €60 | €60 | €76 | €72 | €355 | €197 | ▼ 44.5% |
| Profit (loss) for the period before taxes9903 | €57,679 | -€6,532 | -€51,295 | -€6,386 | €24,278 | €47,434 | €137,464 | €73,999 | ▼ 46.2% |
| Income taxes67/77 | - | - | - | - | - | - | €5,213 | €18,827 | ▲ 261% |
| Profit (loss) for the period9904 | €57,679 | -€6,532 | -€51,295 | -€6,386 | €24,278 | €47,434 | €132,251 | €55,172 | ▼ 58.3% |
| Profit (loss) for the period to be appropriated9905 | €57,679 | -€6,532 | -€51,295 | -€6,386 | €24,278 | €47,434 | €132,251 | €55,172 | ▼ 58.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €246,806 | €285,450 | €184,762 | €234,807 | €229,328 | €272,238 | €404,094 | €451,064 | ▲ 11.6% |
| Formation expenses20 | €594 | €116 | €0 | - | - | - | - | - | - |
| Current assets29/58 | €246,212 | €285,333 | €184,762 | €234,807 | €229,328 | €272,238 | €404,094 | €451,064 | ▲ 11.6% |
| Amounts receivable within one year40/41 | €93,879 | €139,779 | €58,757 | €44,449 | €20,514 | €48,843 | €168,252 | €108,555 | ▼ 35.5% |
| Trade receivables40 | - | - | - | €44,449 | €20,514 | €45,791 | €168,252 | €94,882 | ▼ 43.6% |
| Other amounts receivable41 | - | - | - | - | - | €3,052 | €0 | €13,673 | - |
| Current investments50/53 | - | - | - | - | - | - | - | €200,000 | - |
| Cash at bank and in hand54/58 | €151,233 | €144,463 | €124,914 | €189,267 | €206,633 | €221,207 | €233,642 | €120,327 | ▼ 48.5% |
| Deferred charges and accrued income490/1 | - | - | - | €1,091 | €2,182 | €2,188 | €2,200 | €22,182 | ▲ 908% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €246,806 | €285,450 | €184,762 | €234,807 | €229,328 | €272,238 | €404,094 | €451,064 | ▲ 11.6% |
| Equity10/15 | €203,664 | €197,131 | €145,836 | €139,450 | €163,727 | €211,162 | €343,412 | €398,585 | ▲ 16.1% |
| Contributions10/11 | €330,000 | €330,000 | €0 | €330,000 | €330,000 | €330,000 | €330,000 | €330,000 | = |
| Contributions outside capital11 | - | - | - | €330,000 | €330,000 | €330,000 | - | - | - |
| Share premium1100/10 | - | - | - | €0 | - | - | - | - | - |
| Other1109/19 | - | - | - | €330,000 | €330,000 | €330,000 | - | - | - |
| Profit (loss) carried forward14 | -€126,336 | -€132,869 | -€184,164 | -€190,550 | -€166,273 | -€118,838 | €13,412 | €68,585 | ▲ 411% |
| Amounts payable17/49 | €43,143 | €88,319 | €38,926 | €95,358 | €65,601 | €61,076 | €60,681 | €52,479 | ▼ 13.5% |
| Amounts payable within one year42/48 | €43,143 | €88,319 | €38,926 | €95,010 | €54,534 | €61,076 | €60,681 | €52,479 | ▼ 13.5% |
| Trade debts44 | €43,143 | €75,523 | €36,060 | €91,293 | €36,605 | €60,929 | €47,976 | €41,141 | ▼ 14.2% |
| Suppliers440/4 | - | - | - | €91,293 | €36,605 | €60,929 | €47,976 | €41,141 | ▼ 14.2% |
| Taxes, remuneration and social security45 | - | - | - | €3,717 | €17,929 | €0 | €12,558 | €11,153 | ▼ 11.2% |
| Taxes450/3 | - | - | - | €3,717 | €17,929 | €0 | €12,558 | €11,153 | ▼ 11.2% |
| Other amounts payable47/48 | - | - | - | - | - | €147 | €147 | €186 | ▲ 26.6% |
| Accrued charges and deferred income492/3 | - | - | - | €348 | €11,068 | €0 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €57,679 | -€6,532 | -€51,295 | -€6,386 | €24,278 | €47,434 | €132,251 | €55,172 | ▼ 58.3% |
| + Depreciation and write-downs630 | €478 | €478 | €116 | €0 | - | - | - | - | - |
| Operating cash flow (approximation) | €58,156 | -€6,054 | -€51,179 | -€6,386 | €24,278 | €47,434 | €132,251 | €55,172 | ▼ 58.3% |
| Change in cash | - | -€6,770 | -€19,550 | €64,353 | €17,366 | €14,574 | €12,435 | -€113,315 | - |
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 EXPERIENCE@WORK 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 EXPERIENCE@WORK 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 EXPERIENCE@WORK. 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 11 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 30-06-2026 | 2026-00218997 | |
| 31-12-2024 | abbreviated format | 03-07-2025 | 2025-00243444 | |
| 31-12-2023 | abbreviated format | 12-06-2024 | 2024-00125607 | |
| 31-12-2022 | abbreviated format | 29-06-2023 | 2023-00182140 | |
| 31-12-2021 | micro format | 30-06-2022 | 2022-20114184 | |
| 31-12-2020 | micro format | 07-06-2021 | 2021-17900577 | |
| 31-12-2019 | abbreviated format | 23-06-2020 | 2020-19500495 | |
| 31-12-2018 | micro format | 31-05-2019 | 2019-15300387 | |
| 31-12-2017 | micro format | 11-06-2018 | 2018-17200206 | |
| 31-12-2016 | abbreviated format | 12-06-2017 | 2017-16500573 |