Eye-D
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 24-03-2026 PDF all 5 filings
Turnover
≈ €140,000
Estimated: probably between €120,000 and €190,000
Total assets
€72,693▲ 31.5%
2024 · €55,279
Net result
€19,516▲ 837%
2024 · €2,083
Working capital
-€13,266
2024 · €22,300
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€61,480
▲ 118%
2025
20212025
Net result
€19,516
▲ 837%
2025
middle half of the sector
20212025
Equity
€5,000
▼ 89.4%
2025
lowest quarter of the sector
20212025
Total assets
€72,693
▲ 31.5%
2025
middle half of the sector
20212025
Debt
€67,693
▲ 745%
2025
20212025
Working capital
-€13,266
2025
lowest quarter of the sector
20212025
Solvency
6.9%
▼ 78.6pp
2025
lowest quarter of the sector
20212025
Current ratio
0.80
▼ 2.98
2025
lowest quarter of the sector
20212025
Return on assets (ROA)
26.8%
▲ 23.1pp
2025
middle half of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result€32,169-€23,178▼ 27.9%€27,324▲ 17.9%€28,138▲ 3.0%€61,480▲ 118%
Net result€24,332within the sector's middle half-€16,790within the sector's middle half▼ 31.0%-€935below the sector's middle half€2,083below the sector's middle half€19,516within the sector's middle half▲ 837%
Equity€29,332within the sector's middle half-€46,121within the sector's middle half▲ 57.2%€45,186within the sector's middle half▼ 2.0%€47,269within the sector's middle half▲ 4.6%€5,000below the sector's middle half▼ 89.4%
Total assets€45,890below the sector's middle half-€67,705below the sector's middle half▲ 47.5%€70,648within the sector's middle half▲ 4.3%€55,279below the sector's middle half▼ 21.8%€72,693within the sector's middle half▲ 31.5%
Debt€16,558-€21,584▲ 30.4%€25,461▲ 18.0%€8,010▼ 68.5%€67,693▲ 745%
Working capital€27,201within the sector's middle half-€30,055within the sector's middle half▲ 10.5%€21,091within the sector's middle half▼ 29.8%€22,300within the sector's middle half▲ 5.7%-€13,266below the sector's middle half
Solvency63.9%within the sector's middle half-68.1%within the sector's middle half▲ 4.2pp64.0%within the sector's middle half▼ 4.2pp85.5%above the sector's middle half▲ 21.5pp6.9%below the sector's middle half▼ 78.6pp
Current ratio2.64within the sector's middle half-2.39within the sector's middle half▼ 0.251.83within the sector's middle half▼ 0.563.78within the sector's middle half▲ 1.960.80below the sector's middle half▼ 2.98
Return on assets (ROA)53.0%above the sector's middle half-24.8%within the sector's middle half▼ 28.2pp-1.3%below the sector's middle half▼ 26.1pp3.8%below the sector's middle half▲ 5.1pp26.8%within the sector's middle half▲ 23.1pp
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). 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 118% higher than in 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
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 €72,693
Fixed assets
€18,266 ▼ 26.8%
Current assets
€54,428 ▲ 79.6%
Equity and liabilities €72,693
Equity
€5,000 ▼ 89.4%
Debt
€67,693 ▲ 745%
Debt's share of the balance-sheet total rises from 14.5% to 93.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€72,525▲
2024 · €36,461
Cash flow
€30,562▲
2024 · €10,406
Debt to equity
13.54▲
2024 · 0.17
ROE
390.3%▲
2024 · 4.4%
Interest coverage
1.97▲
2024 · 1.44
Debt ≤ 1 year
€67,693▲
2024 · €8,010
Income taxes
€5,067▲
2024 · €726
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 |
|---|---|---|---|---|---|
| Tangible fixed assets | €2,272 | €16,092 | €14,197 | €9,196 | €4,341 |
| Depreciation and write-downs of the year | €142 | €2,156 | €6,168 | €8,323 | €11,045 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €142 | €2,156 | €6,168 | €8,323 | €11,045 | ▲ 32.7% |
| Other operating charges640/8 | €298 | €336 | €631 | €621 | €709 | ▲ 14.2% |
| Gross operating margin9900 | €32,609 | €25,671 | €34,123 | €37,081 | €73,234 | ▲ 97.5% |
| Operating profit (loss)9901 | €32,169 | €23,178 | €27,324 | €28,138 | €61,480 | ▲ 118% |
| Financial income75/76B | - | €29 | €1 | €3 | - | - |
| Recurring financial income75 | - | €29 | €1 | €3 | - | - |
| Financial charges65/66B | €690 | €698 | €27,462 | €25,332 | €36,897 | ▲ 45.7% |
| Recurring financial charges65 | €690 | €698 | €27,462 | €25,332 | €36,897 | ▲ 45.7% |
| Profit (loss) for the period before taxes9903 | €31,478 | €22,510 | -€137 | €2,809 | €24,583 | ▲ 775% |
| Income taxes67/77 | €7,147 | €5,720 | €798 | €726 | €5,067 | ▲ 598% |
| Profit (loss) for the period9904 | €24,332 | €16,790 | -€935 | €2,083 | €19,516 | ▲ 837% |
| Profit (loss) for the period to be appropriated9905 | €24,332 | €16,790 | -€935 | €2,083 | €19,516 | ▲ 837% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €45,890 | €67,705 | €70,648 | €55,279 | €72,693 | ▲ 31.5% |
| Fixed assets21/28 | €2,130 | €16,066 | €24,096 | €24,969 | €18,266 | ▼ 26.8% |
| Tangible fixed assets22/27 | €2,130 | €16,066 | €24,096 | €24,969 | €18,266 | ▼ 26.8% |
| Plant, machinery and equipment23 | €2,130 | €3,015 | €2,258 | €1,642 | €4,187 | ▲ 155% |
| Furniture and vehicles24 | - | €13,051 | €8,235 | €12,489 | €6,005 | ▼ 51.9% |
| Other tangible fixed assets26 | - | - | €13,603 | €10,838 | €8,074 | ▼ 25.5% |
| Current assets29/58 | €43,760 | €51,639 | €46,552 | €30,310 | €54,428 | ▲ 79.6% |
| Amounts receivable within one year40/41 | €12,167 | €11,747 | €13,731 | €2,952 | €13,550 | ▲ 359% |
| Trade receivables40 | €12,167 | €11,747 | €13,410 | €2,178 | €12,342 | ▲ 467% |
| Other amounts receivable41 | - | - | €320 | €774 | €1,208 | ▲ 56.0% |
| Cash at bank and in hand54/58 | €30,529 | €39,036 | €31,913 | €20,006 | €39,558 | ▲ 97.7% |
| Deferred charges and accrued income490/1 | €1,064 | €856 | €908 | €7,352 | €1,320 | ▼ 82.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €45,890 | €67,705 | €70,648 | €55,279 | €72,693 | ▲ 31.5% |
| Equity10/15 | €29,332 | €46,121 | €45,186 | €47,269 | €5,000 | ▼ 89.4% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | €24,332 | €41,121 | €40,186 | €42,269 | - | - |
| Distributable reserves133 | €24,332 | €41,121 | €40,186 | €42,269 | - | - |
| Amounts payable17/49 | €16,558 | €21,584 | €25,461 | €8,010 | €67,693 | ▲ 745% |
| Amounts payable within one year42/48 | €16,558 | €21,584 | €25,461 | €8,010 | €67,693 | ▲ 745% |
| Trade debts44 | €2,295 | €1,251 | €5,744 | €2,226 | €3,243 | ▲ 45.7% |
| Suppliers440/4 | €2,295 | €1,251 | €5,744 | €2,226 | €3,243 | ▲ 45.7% |
| Taxes, remuneration and social security45 | €8,490 | €15,748 | €11,133 | €1,281 | €7,473 | ▲ 483% |
| Taxes450/3 | €8,490 | €15,748 | €11,133 | €1,281 | €7,473 | ▲ 483% |
| Other amounts payable47/48 | €5,773 | €4,586 | €8,584 | €4,502 | €56,978 | ▲ 13× |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24,332 | €16,790 | -€935 | €2,083 | €19,516 | ▲ 837% |
| + Depreciation and write-downs630 | €142 | €2,156 | €6,168 | €8,323 | €11,045 | ▲ 32.7% |
| Operating cash flow (approximation) | €24,473 | €18,946 | €5,233 | €10,406 | €30,562 | ▲ 194% |
| Investment in fixed assets (approximation) | - | -€16,092 | -€14,197 | -€9,196 | -€4,341 | ▲ 52.8% |
| Change in cash | - | €8,506 | -€7,123 | -€11,907 | €19,552 | - |
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, 2,153 companies had the same profile as Eye-D has now. Two years later, 96.1% were still going and 1.7% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
96.1%
was still going
2.2%
stopped otherwise
1.7%
went bankrupt
The bankruptcy probability of Eye-D itself is lower: 0.1% within 12 months. It rests on far more data about Eye-D 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 2,153 companies, not a prediction for Eye-D. 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 (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 24-03-2026 | 2026-00066650 | |
| 31-12-2024 | micro format | 23-06-2025 | 2025-00161949 | |
| 31-12-2023 | micro format | 03-05-2024 | 2024-00084264 | |
| 31-12-2022 | micro format | 06-07-2023 | 2023-00207626 | |
| 31-12-2021 | micro format | 28-06-2022 | 2022-20111967 |