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ActiveFinancials · financial year 2024, full format
2024 annual accounts filed 31 days after the deadline Filed on 31 August 2025, deadline 31 July 2025 (7 months after the close on 31 December 2024, Companies Code art. 3:10). Source: NBB, 2025-00480685.
Annual accounts 2024 filed on 31-08-2025 PDF all 11 filings
Turnover
≈ €14.0m
Estimated: probably between €11.0m and €20.0m
EBIT margin
Not included in this filing
Net result
€2.9m▲ 89.4%
2023 · €1.5m
Working capital
€3.0m▲ 30.1%
2023 · €2.3m
In the rankings
#3 company by equity in Namur, Telecoms and IT sector#5 company by total assets in Namur, Telecoms and IT sector
Multi-year overview
2019 to 2024, 6 financial yearsOperating result
€3.8m
▲ 84.9%
2024
20192024
Net result
€2.9m
▲ 89.4%
2024
highest quarter of the sector
20192024
Equity
€4.4m
▲ 24.3%
2024
highest quarter of the sector
20192024
Total assets
€6.0m
▲ 27.7%
2024
highest quarter of the sector
20192024
Debt
€1.6m
▲ 38.2%
2024
20192024
Working capital
€3.0m
▲ 30.1%
2024
highest quarter of the sector
20192024
Solvency
73.5%
▼ 2.0pp
2024
highest quarter of the sector
20192024
Current ratio
2.86
▼ 0.57
2024
middle half of the sector
20192024
Return on assets (ROA)
48.4%
▲ 15.8pp
2024
highest quarter of the sector
20192024
Staff (FTE)
13.9
▲ 23.0%
2024
middle half of the sector
20192024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201920202021202220232024
Operating result€0.4m-€0.8m▲ 110%€1.2m▲ 55.8%€1.7m▲ 36.1%€2.1m▲ 21.3%€3.8m▲ 84.9%
Net result€0.2m-€0.5mabove the sector's middle half▲ 122%€0.9mabove the sector's middle half▲ 78.0%€1.2mabove the sector's middle half▲ 35.2%€1.5mabove the sector's middle half▲ 23.2%€2.9mabove the sector's middle half▲ 89.4%
Equity€0.5m-€1.0mabove the sector's middle half▲ 109%€1.9mabove the sector's middle half▲ 92.9%€3.2mabove the sector's middle half▲ 65.8%€3.5mabove the sector's middle half▲ 12.0%€4.4mabove the sector's middle half▲ 24.3%
Total assets€0.9m-€1.9mwithin the sector's middle half▲ 103%€2.6mwithin the sector's middle half▲ 39.1%€3.9mwithin the sector's middle half▲ 49.4%€4.7mabove the sector's middle half▲ 21.5%€6.0mabove the sector's middle half▲ 27.7%
Debt€0.4m-€0.9m▲ 96.9%€0.7m▼ 22.0%€0.7m▲ 3.5%€1.2m▲ 64.1%€1.6m▲ 38.2%
Working capital€0.4m-€0.7mabove the sector's middle half▲ 96.6%€1.6mabove the sector's middle half▲ 130%€2.3mabove the sector's middle half▲ 38.9%€2.3mabove the sector's middle half▲ 0.6%€3.0mabove the sector's middle half▲ 30.1%
Solvency51.7%-53.2%within the sector's middle half▲ 1.5pp73.8%above the sector's middle half▲ 20.6pp81.8%above the sector's middle half▲ 8.1pp75.5%above the sector's middle half▼ 6.4pp73.5%above the sector's middle half▼ 2.0pp
Current ratio2.29-2.23within the sector's middle half▼ 0.074.96above the sector's middle half▲ 2.745.91above the sector's middle half▲ 0.953.43above the sector's middle half▼ 2.482.86within the sector's middle half▼ 0.57
Return on assets (ROA)25.5%-27.8%above the sector's middle half▲ 2.4pp35.6%above the sector's middle half▲ 7.8pp32.2%above the sector's middle half▼ 3.4pp32.6%above the sector's middle half▲ 0.5pp48.4%above the sector's middle half▲ 15.8pp
Staff (FTE)7.2-8.8within the sector's middle half▲ 22.2%9.3within the sector's middle half▲ 5.7%9.8within the sector's middle half▲ 5.4%11.3within the sector's middle half▲ 15.3%13.9within the sector's middle half▲ 23.0%
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 2024 is 85% higher than in 2023 and the highest since 2020. It is the fourth rise in a row.
Large changes and their cause
- 2024 Net result +89% on 2023. This financial year ran 15 months, the previous one 12.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €6.0m
Fixed assets
€1.4m ▼ 2.6%
Current assets
€4.5m ▲ 41.8%
Equity and liabilities €6.0m
Equity
€4.4m ▲ 24.3%
Debt
€1.6m ▲ 38.2%
Debt's share of the balance-sheet total rises from 24.5% to 26.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€4.0m▲
2023 · €2.1m
Cash flow
€3.1m▲
2023 · €1.6m
Debt to equity
0.36▲
2023 · 0.33
ROE
65.9%▲
2023 · 43.3%
Interest coverage
85.17▼
2023 · over 100
Debt ≤ 1 year
€1.6m▲
2023 · €934,812
Income taxes
€1.1m▲
2023 · €526,404
Staff costs
€1.8m▲
2023 · €997,569
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-09-2022 | 30-09-2023 | 31-12-2024 |
|---|---|---|---|
| Employees at the balance-sheet date | 11 | 13 | 19 |
| full-time | 8 | 10 | 14 |
| part-time | 3 | 3 | 5 |
| in full-time equivalents | 9.8 | 11.3 | 17.1 |
| Average over the year, in full-time equivalents | 9.8 | 11.3 | 13.9 |
| On a permanent contract | 11 | 13 | 19 |
| Joined | 2 | 4 | 10 |
| Left | 2 | 2 | 4 |
Source: social balance sheet in the 2022 to 2024 annual accounts
Investments
| Item | 30-09-2022 | 30-09-2023 | 2024 |
|---|---|---|---|
| Tangible fixed assets | €64,623 | €86,851 | €30,233 |
| Intangible fixed assets | €80,000 | €317,354 | €109,981 |
| Financial fixed assets | €600,000 | - | - |
| Depreciation and write-downs of the year | €47,014 | €59,572 | €178,656 |
Source: notes to the 2022 to 2024 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0.03m | €0.007m | €400 | ▼ 94.4% |
| Remuneration, social security and pensions62 | - | - | - | €0.8m | €1.0m | €1.8m | ▲ 77.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.04m | €0.04m | €0.04m | €0.05m | €0.06m | €0.2m | ▲ 200% |
| Other operating charges640/8 | - | - | - | €0.008m | €0.008m | €0.01m | ▲ 98.9% |
| Non-recurring operating charges66A | - | - | - | - | €0.003m | - | - |
| Gross operating margin9900 | €0.9m | €1.4m | €1.9m | €2.5m | €3.1m | €5.8m | ▲ 84.5% |
| Operating profit (loss)9901 | €0.4m | €0.8m | €1.2m | €1.7m | €2.1m | €3.8m | ▲ 84.9% |
| Financial income75/76B | - | - | - | €0.002m | €0.02m | €0.2m | ▲ 820% |
| Recurring financial income75 | €0.002m | €0.002m | €0.002m | €0.002m | €0.02m | €0.2m | ▲ 820% |
| Financial charges65/66B | - | - | - | €0.02m | €0.02m | €0.05m | ▲ 168% |
| Recurring financial charges65 | €0.01m | €0.02m | €0.02m | €0.02m | €0.02m | €0.05m | ▲ 168% |
| Profit (loss) for the period before taxes9903 | €0.4m | €0.8m | €1.2m | €1.7m | €2.1m | €4.0m | ▲ 92.1% |
| Income taxes67/77 | €0.1m | €0.3m | €0.3m | €0.4m | €0.5m | €1.1m | ▲ 99.8% |
| Profit (loss) for the period9904 | €0.2m | €0.5m | €0.9m | €1.2m | €1.5m | €2.9m | ▲ 89.4% |
| Profit (loss) for the period to be appropriated9905 | €0.2m | €0.5m | €0.9m | €1.2m | €1.5m | €2.9m | ▲ 89.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €0.9m | €1.9m | €2.6m | €3.9m | €4.7m | €6.0m | ▲ 27.7% |
| Fixed assets21/28 | €0.3m | €0.6m | €0.6m | €1.1m | €1.5m | €1.4m | ▼ 2.6% |
| Intangible fixed assets21 | - | - | - | - | €0.3m | €0.3m | ▲ 2.4% |
| Tangible fixed assets22/27 | €0.3m | €0.6m | €0.6m | €0.5m | €0.6m | €0.5m | ▼ 8.1% |
| Land and buildings22 | - | - | - | €0.5m | €0.5m | €0.4m | ▼ 6.3% |
| Plant, machinery and equipment23 | - | - | - | €0.01m | €0.01m | €0.007m | ▼ 32.9% |
| Furniture and vehicles24 | - | - | - | €0.05m | €0.1m | €0.09m | ▼ 13.6% |
| Financial fixed assets28 | €125 | €125 | €125 | €0.6m | €0.6m | €0.6m | = |
| Current assets29/58 | €0.6m | €1.3m | €2.0m | €2.7m | €3.2m | €4.5m | ▲ 41.8% |
| Amounts receivable after more than one year29 | - | - | - | €1.6m | €2.5m | €2.7m | ▲ 7.9% |
| Trade receivables290 | - | - | - | €1.6m | €2.5m | €2.7m | ▲ 7.9% |
| Amounts receivable within one year40/41 | €0.1m | €0.2m | €0.2m | €0.2m | €0.4m | €1.2m | ▲ 215% |
| Trade receivables40 | - | - | - | €0.2m | €0.4m | €1.2m | ▲ 215% |
| Other amounts receivable41 | - | - | - | €0.02m | - | - | - |
| Cash at bank and in hand54/58 | €0.5m | €1.0m | €1.9m | €0.9m | €0.3m | €0.6m | ▲ 102% |
| Deferred charges and accrued income490/1 | - | - | - | €0.01m | €0.01m | €0.02m | ▲ 46.7% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €0.9m | €1.9m | €2.6m | €3.9m | €4.7m | €6.0m | ▲ 27.7% |
| Equity10/15 | €0.5m | €1.0m | €1.9m | €3.2m | €3.5m | €4.4m | ▲ 24.3% |
| Contributions10/11 | €0.006m | - | - | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.3m | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | = |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | - | - |
| Distributable reserves133 | - | - | - | €0.8m | €0.8m | €0.8m | ▲ 0.2% |
| Profit (loss) carried forward14 | €0.1m | €0.1m | €1.0m | €2.3m | €2.7m | €3.5m | ▲ 32.5% |
| Investment grants15 | - | - | - | €0.02m | €0.02m | €0.02m | ▼ 9.8% |
| Amounts payable17/49 | €0.4m | €0.9m | €0.7m | €0.7m | €1.2m | €1.6m | ▲ 38.2% |
| Amounts payable after more than one year17 | €0.2m | €0.3m | €0.3m | €0.2m | €0.2m | - | - |
| Financial debts170/4 | - | - | - | €0.2m | €0.2m | - | - |
| Amounts payable within one year42/48 | €0.3m | €0.6m | €0.4m | €0.5m | €0.9m | €1.6m | ▲ 70.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.09m | €0.09m | - | - |
| Trade debts44 | €0.07m | €0.1m | €0.1m | €0.06m | €0.1m | €0.3m | ▲ 101% |
| Suppliers440/4 | - | - | - | €0.06m | €0.1m | €0.3m | ▲ 101% |
| Taxes, remuneration and social security45 | - | - | - | €0.3m | €0.4m | €1.0m | ▲ 134% |
| Taxes450/3 | - | - | - | €0.2m | €0.3m | €0.8m | ▲ 159% |
| Remuneration and social security454/9 | - | - | - | €0.1m | €0.1m | €0.2m | ▲ 70.7% |
| Other amounts payable47/48 | - | - | - | - | €0.3m | €0.3m | ▲ 7.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.2m | €0.5m | €0.9m | €1.2m | €1.5m | €2.9m | ▲ 89.4% |
| + Depreciation and write-downs630 | €0.04m | €0.04m | €0.04m | €0.05m | €0.06m | €0.2m | ▲ 200% |
| Operating cash flow (approximation) | €0.3m | €0.6m | €1.0m | €1.3m | €1.6m | €3.1m | ▲ 93.6% |
| Investment in fixed assets (approximation) | - | -€0.3m | -€0.02m | -€0.6m | -€0.4m | -€0.1m | ▲ 64.8% |
| Change in cash | - | €0.5m | €0.8m | -€1.0m | -€0.6m | €0.3m | - |
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 Fastback 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 Fastback itself: 0.6% 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 Fastback. 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 |
|---|---|---|---|---|
| 31-12-2024 | full format | 31-08-2025 | 2025-00480685 | |
| 30-09-2023 | full format | 26-04-2024 | 2024-00077459 | |
| 30-09-2022 | full format | 05-04-2023 | 2023-00057724 | |
| 30-09-2021 | full format | 30-03-2022 | 2022-09400405 | |
| 30-09-2020 | full format | 07-04-2021 | 2021-09900402 | |
| 30-09-2019 | full format | 24-04-2020 | 2020-09800070 | |
| 30-09-2018 | micro format | 30-04-2019 | 2019-11700208 | |
| 30-09-2017 | micro format | 30-04-2018 | 2018-11300466 | |
| 30-09-2016 | full format | 28-04-2017 | 2017-11100473 | |
| 30-09-2015 | full format | 30-06-2016 | 2016-25600232 |