Extranet
ActiveFinancials · financial year 2025, full format
2025 annual accounts filed 41 days after the deadline Filed on 10 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00510082.
Annual accounts 2025 filed on 10-09-2026 at the NBB all 8 filings
Turnover
€1.4m▼ 5.2%
2024 · €1.5m
EBIT margin
-12.2%▼ 8.8pp
2024 · -3.4%
Net result
-€162,332▼ 229%
2024 · -€49,371
Working capital
€783,079▼ 41.8%
2024 · €1.3m
In the rankings
#2 company by total assets in Beringen, Other services sector#7 company by equity in Beringen, Other services sector
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€1.4m
▼ 5.2%
2025
20182025
Operating result
-€170,950
▼ 240%
2025
20182025
Net result
-€162,332
▼ 229%
2025
lowest quarter of the sector
20182025
EBIT margin
-12.2%
▼ 8.8pp
2025
20182025
Equity
€218,192
▼ 72.9%
2025
middle half of the sector
20182025
Total assets
€1.4m
▼ 41.5%
2025
middle half of the sector
20182025
Debt
€224,775
▼ 63.1%
2025
20182025
Working capital
€783,079
▼ 41.8%
2025
highest quarter of the sector
20182025
Solvency
16.0%
▼ 18.4pp
2025
middle half of the sector
20182025
Current ratio
7.66
▲ 3.98
2025
highest quarter of the sector
20182025
Return on assets (ROA)
-11.9%
▼ 9.8pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
38.4
▼ 10.9%
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
Turnover€1.7m-€1.7m▼ 3.2%€1.5m▼ 8.7%€1.5m▼ 2.0%€1.4m▼ 2.6%€1.4m▼ 5.1%€1.5m▲ 8.1%€1.4m▼ 5.2%
Operating result-€1.4m--€1.5m▼ 7.2%€0.09m-€0.06m-€0.1m▼ 87.7%-€0.1m▼ 14.8%-€0.05m▲ 60.1%-€0.2m▼ 240%
Net result€0.2m-€0.09m▼ 63.3%€0.09mabove the sector's middle half▲ 4.8%-€0.06mbelow the sector's middle half-€0.1mbelow the sector's middle half▼ 89.2%-€0.1mbelow the sector's middle half▼ 14.1%-€0.05mbelow the sector's middle half▲ 60.7%-€0.2mbelow the sector's middle half▼ 229%
EBIT margin-80.9%--89.5%▼ 8.6pp6.0%▲ 95.5pp-4.0%▼ 9.9pp-7.6%▼ 3.7pp-9.3%▼ 1.6pp-3.4%▲ 5.8pp-12.2%▼ 8.8pp
Equity€1.0m-€1.1m▲ 8.9%€1.1mabove the sector's middle half▲ 8.6%€1.1mabove the sector's middle half▼ 5.1%€1.0mabove the sector's middle half▼ 10.1%€0.9mabove the sector's middle half▼ 12.8%€0.8mabove the sector's middle half▼ 5.8%€0.2mwithin the sector's middle half▼ 72.9%
Total assets€2.1m-€2.3m▲ 10.9%€2.4mabove the sector's middle half▲ 4.4%€2.5mabove the sector's middle half▲ 3.5%€2.4mabove the sector's middle half▼ 1.8%€2.3mabove the sector's middle half▼ 3.5%€2.3mabove the sector's middle half▲ 0.3%€1.4mwithin the sector's middle half▼ 41.5%
Debt€0.2m-€0.3m▲ 87.1%€0.3m▲ 3.2%€0.4m▲ 46.5%€0.5m▲ 14.8%€0.6m▲ 7.9%€0.6m▲ 10.2%€0.2m▼ 63.1%
Working capital€1.2m-€1.5m▲ 19.1%€1.6mabove the sector's middle half▲ 6.8%€1.6mabove the sector's middle half▼ 0.6%€1.5mabove the sector's middle half▼ 5.3%€1.4mabove the sector's middle half▼ 6.7%€1.3mabove the sector's middle half▼ 2.2%€0.8mabove the sector's middle half▼ 41.8%
Solvency47.3%-46.4%▼ 0.9pp48.3%within the sector's middle half▲ 1.9pp44.3%within the sector's middle half▼ 4.0pp40.6%within the sector's middle half▼ 3.7pp36.6%within the sector's middle half▼ 3.9pp34.4%within the sector's middle half▼ 2.2pp16.0%within the sector's middle half▼ 18.4pp
Current ratio8.81-9.89▲ 1.079.18above the sector's middle half▼ 0.705.68above the sector's middle half▼ 3.514.70above the sector's middle half▼ 0.984.13above the sector's middle half▼ 0.573.68above the sector's middle half▼ 0.457.66above the sector's middle half▲ 3.98
Return on assets (ROA)11.5%-3.8%▼ 7.7pp3.8%within the sector's middle half=-2.4%within the sector's middle half▼ 6.2pp-4.6%below the sector's middle half▼ 2.2pp-5.4%below the sector's middle half▼ 0.8pp-2.1%below the sector's middle half▲ 3.3pp-11.9%below the sector's middle half▼ 9.8pp
Staff (FTE)49.5-51.7▲ 4.4%51above the sector's middle half▼ 1.4%80.8▲ 58.4%46.7above the sector's middle half▼ 42.2%44above the sector's middle half▼ 5.8%43.1above the sector's middle half▼ 2.0%38.4within the sector's middle half▼ 10.9%
above
within
below
The sector band is the middle half of the companies in Personal service activities (NACE 96). 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 a loss of €170,950, larger than the loss of €50,298 in 2024. It is the lowest result since 2021.
Large changes and their cause
- 2025 Net result -229% on 2024. The accounts now follow the full format, last year the abbreviated format.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.4m
Fixed assets
€465,353 ▼ 4.7%
Current assets
€900,731 ▼ 51.3%
Equity and liabilities €1.4m
Equity
€218,192 ▼ 72.9%
Provisions
€923,118 =
Debt
€224,775 ▼ 63.1%
Debt's share of the balance-sheet total falls from 26.1% to 16.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€145,883▼
2024 · -€25,873
Cash flow
-€137,265▼
2024 · -€24,946
Debt to equity
1.03▲
2024 · 0.76
ROE
-74.4%▼
2024 · -6.1%
Interest coverage
-146.14▼
2024 · -18.38
Debt ≤ 1 year
€117,652▼
2024 · €502,000
Customer credit
4 days▼
2024 · 204 days
Staff costs
€1.5m▲
2024 · €1.4m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 80 | 75 | 70 | 66 | 62 |
| full-time | 2 | 2 | 2 | 3 | 3 |
| part-time | 78 | 73 | 68 | 63 | 59 |
| in full-time equivalents | 48.3 | 45.5 | 41.3 | 39.3 | 37.2 |
| Average over the year, in full-time equivalents | 49.5 | 46.7 | 44 | 43.1 | 38.4 |
| On a permanent contract | 80 | 73 | 70 | 66 | 62 |
| Joined | 7 | 12 | 5 | 8 | 2 |
| Left | 11 | 17 | 10 | 12 | 6 |
| Training hours | 12 | 60 | 7 | 36 | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €2,794 | - | - | - | €1,926 |
| Depreciation and write-downs of the year | €26,818 | €26,818 | €26,818 | €24,425 | €25,067 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 11 entries · €3.6m awarded · €3.6m paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 3 | €880,388 | €879,654 |
| 2024 | 3 | €887,645 | €888,216 |
| 2023 | 3 | €903,842 | €900,829 |
| 2022 | 2 | €886,060 | €882,854 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €1.7m | €1.7m | €1.5m | €1.5m | €1.4m | €1.4m | €1.5m | €1.4m | ▼ 5.2% |
| Non-recurring operating income76A | - | - | - | €35 | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €0.1m | €0.08m | €0.07m | €0.07m | €0.07m | ▲ 4.3% |
| Remuneration, social security and pensions62 | - | - | - | €1.4m | €1.4m | €1.4m | €1.4m | €1.5m | ▲ 2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | €0.02m | €0.03m | ▲ 2.6% |
| Other operating charges640/8 | - | - | - | €0.004m | €0.006m | €0.007m | €0.007m | €0.008m | ▲ 16.2% |
| Non-recurring operating charges66A | - | - | - | €345 | €252 | €0 | €0 | - | - |
| Gross operating margin9900 | - | - | €1.4m | €1.4m | €1.4m | €1.3m | €1.4m | €1.3m | ▼ 5.6% |
| Operating profit (loss)9901 | -€1.4m | -€1.5m | €0.09m | -€0.06m | -€0.1m | -€0.1m | -€0.05m | -€0.2m | ▼ 240% |
| Financial income75/76B | - | - | - | €356 | €33 | €0.002m | €0.002m | €0.01m | ▲ 312% |
| Recurring financial income75 | €361 | €16 | €314 | €321 | €17 | €0.002m | €0.002m | €0.01m | ▲ 312% |
| Non-recurring financial income76B | - | - | - | €35 | €17 | €0 | - | - | - |
| Financial charges65/66B | - | - | - | €5 | €252 | €0.001m | €0.001m | €0.001m | ▼ 29.1% |
| Recurring financial charges65 | €19 | €21 | - | €5 | €252 | €0.001m | €0.001m | €0.001m | ▼ 29.1% |
| Profit (loss) for the period before taxes9903 | -€1.4m | -€1.5m | €0.09m | -€0.06m | -€0.1m | -€0.1m | -€0.05m | -€0.2m | ▼ 229% |
| Profit (loss) for the period9904 | €0.2m | €0.09m | €0.09m | -€0.06m | -€0.1m | -€0.1m | -€0.05m | -€0.2m | ▼ 229% |
| Profit (loss) for the period to be appropriated9905 | €0.2m | €0.09m | €0.09m | -€0.06m | -€0.1m | -€0.1m | -€0.05m | -€0.2m | ▼ 229% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.1m | €2.3m | €2.4m | €2.5m | €2.4m | €2.3m | €2.3m | €1.4m | ▼ 41.5% |
| Fixed assets21/28 | €0.7m | €0.6m | €0.6m | €0.6m | €0.5m | €0.5m | €0.5m | €0.5m | ▼ 4.7% |
| Tangible fixed assets22/27 | €0.6m | €0.6m | €0.6m | €0.6m | €0.5m | €0.5m | €0.5m | €0.5m | ▼ 4.7% |
| Land and buildings22 | - | - | - | €0.6m | €0.5m | €0.5m | €0.5m | €0.5m | ▼ 5.0% |
| Plant, machinery and equipment23 | - | - | - | €0.005m | €0.002m | - | - | €0.001m | - |
| Financial fixed assets28 | €0.03m | €0.03m | €0.03m | €0 | - | - | - | - | - |
| Current assets29/58 | €1.4m | €1.6m | €1.8m | €1.9m | €1.9m | €1.8m | €1.8m | €0.9m | ▼ 51.3% |
| Amounts receivable within one year40/41 | €0.4m | €0.5m | €0.6m | €0.7m | €0.8m | €0.8m | €0.8m | €0.02m | ▼ 98.0% |
| Other amounts receivable41 | - | - | - | €0.7m | €0.8m | €0.8m | €0.8m | €0.02m | ▼ 98.0% |
| Current investments50/53 | - | - | - | - | - | - | €0.5m | €0.3m | ▼ 35.6% |
| Cash at bank and in hand54/58 | €0.9m | €1.1m | €1.2m | €1.2m | €1.1m | €1.0m | €0.5m | €0.6m | ▲ 9.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.1m | €2.3m | €2.4m | €2.5m | €2.4m | €2.3m | €2.3m | €1.4m | ▼ 41.5% |
| Equity10/15 | €1.0m | €1.1m | €1.1m | €1.1m | €1.0m | €0.9m | €0.8m | €0.2m | ▼ 72.9% |
| Contributions10/11 | - | - | - | - | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Capital10 | - | - | - | - | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Profit (loss) carried forward14 | €0.9m | €1.0m | €1.1m | €1.0m | €0.9m | €0.8m | €0.7m | €0.1m | ▼ 80.4% |
| Investment grants15 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Provisions and deferred taxes16 | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | = |
| Provisions for liabilities and charges160/5 | - | - | - | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | = |
| Pensions and similar obligations160 | - | - | - | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | = |
| Other liabilities and charges164/5 | - | - | - | €0.03m | €0.03m | €0.03m | - | - | - |
| Amounts payable17/49 | €0.2m | €0.3m | €0.3m | €0.4m | €0.5m | €0.6m | €0.6m | €0.2m | ▼ 63.1% |
| Amounts payable within one year42/48 | €0.2m | €0.2m | €0.2m | €0.3m | €0.4m | €0.4m | €0.5m | €0.1m | ▼ 76.6% |
| Trade debts44 | - | - | - | - | - | €0.02m | - | - | - |
| Suppliers440/4 | - | - | - | - | - | €0.02m | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.3m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 1.8% |
| Remuneration and social security454/9 | - | - | - | €0.3m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 1.8% |
| Accrued charges and deferred income492/3 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €235,382 | €86,321 | €90,425 | -€58,235 | -€110,162 | -€125,719 | -€49,371 | -€162,332 | ▼ 229% |
| + Depreciation and write-downs630 | €25,711 | €26,777 | €25,886 | €26,818 | €26,818 | €26,818 | €24,425 | €25,067 | ▲ 2.6% |
| Operating cash flow (approximation) | €261,093 | €113,098 | €116,311 | -€31,417 | -€83,344 | -€98,902 | -€24,946 | -€137,265 | ▼ 450% |
| Investment in fixed assets (approximation) | - | -€7,308 | €0 | €22,206 | -€0 | €0 | -€0 | -€1,926 | ▼ 770,400% |
| Change in cash | - | €206,120 | €34,062 | -€4,164 | -€112,620 | -€29,877 | -€533,531 | €47,105 | - |
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, 180 companies had the same profile as Extranet has now. Two years later, 91.1% were still going and 5.6% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
91.1%
was still going
2.8%
stopped otherwise
5.6%
went bankrupt
Another 0.6% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Extranet itself is lower: 0.1% within 12 months. It rests on far more data about Extranet 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 180 companies, not a prediction for Extranet. 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.
Filings with the National Bank (8)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 10-09-2026 | 2026-00510082 | |
| 31-12-2024 | abbreviated format | 30-08-2025 | 2025-00478867 | |
| 31-12-2023 | abbreviated format | 27-08-2024 | 2024-00376026 | |
| 31-12-2022 | abbreviated format | 25-08-2023 | 2023-00351912 | |
| 31-12-2021 | micro format | 25-08-2022 | 2022-20314689 | |
| 31-12-2020 | micro format | 27-08-2021 | 2021-55300388 | |
| 31-12-2019 | abbreviated format | 28-08-2020 | 2020-46300299 | |
| 31-12-2018 | abbreviated format | 29-08-2019 | 2019-54800358 |