FIDACK
ActiveFinancials · financial year 2026, micro format
Annual accounts 2026 filed on 26-10-2026 at the NBB all 21 filings
Turnover
≈ €140,000
Estimated: probably between €85,000 and €260,000
Total assets
€1.2m▼ 5.6%
2025 · €1.3m
Net result
-€74,718▼ 4.8%
2025 · -€71,283
Working capital
-€77,527▼ 23.3%
2025 · -€62,861
Trend over the years
2022 to 2026, 5 financial years 2019 to 2026, 8 financial years
The operating result for 2026 is a loss of €41,835, larger than the loss of €40,849 in 2025.
Operating result-€0.04m
2026
Net result-€0.07m
2026
Total assets€1.2m
2026
Equity€0.7m
2026
Debt€0.2m
2026
Working capital-€0.08m
2026
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result€0.1m--€0.01m€0.3m€0.1m▼ 57.1%-€0.03m-€0.05m▼ 44.2%-€0.04m▲ 14.0%-€0.04m▼ 2.4%
Net result€0.07m--€0.05m€0.2m€0.1m▼ 47.4%-€0.06m-€0.08m▼ 28.1%-€0.07m▲ 9.0%-€0.07m▼ 4.8%
Equity€0.7m-€0.7m▼ 6.4%€0.9m▲ 27.7%€1.0m▲ 11.4%€0.9m▼ 6.4%€0.8m▼ 8.7%€0.7m▼ 8.7%€0.7m▼ 10.0%
Total assets€1.2m-€1.4m▲ 14.3%€1.4m▼ 0.7%€1.5m▲ 13.3%€1.4m▼ 6.0%€1.4m▼ 4.8%€1.3m▼ 5.4%€1.2m▼ 5.6%
Debt€0.2m-€0.4m▲ 137%€0.09m▼ 74.5%€0.2m▲ 87.8%€0.1m▼ 16.9%€0.2m▲ 7.3%€0.2m▼ 1.1%€0.2m▲ 2.0%
Working capital€0.07m--€0.2m€0.2m-€0.009m-€0.02m▼ 169%-€0.05m▼ 106%-€0.06m▼ 26.3%-€0.08m▼ 23.3%
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
2026 in colour, 2025 as the grey bar beneath
Assets €1.2m
Fixed assets
€1.2m ▼ 4.9%
Current assets
€17,814 ▼ 38.1%
Equity and liabilities €1.2m
Equity
€674,890 ▼ 10.0%
Provisions
€394,863 ▼ 0.4%
Debt
€159,937 ▲ 2.0%
Debt's share of the balance-sheet total rises from 12.0% to 13.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€20,394▼
2025 · €23,141
Cash flow
-€12,489▼
2025 · -€7,294
Current ratio
0.19▼
2025 · 0.31
Debt to equity
0.24▲
2025 · 0.21
ROE
-11.1%▼
2025 · -9.5%
ROA
-6.1%▼
2025 · -5.5%
Interest coverage
0.56▼
2025 · 0.68
Debt ≤ 1 year
€95,341▲
2025 · €91,644
Debt > 1 year
€64,225▼
2025 · €65,222
Income taxes
€207▼
2025 · €224
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | €438,489 | €14,837 | €8,224 | €3,286 | - |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €76,700 | €63,023 | €63,715 | €63,990 | €62,229 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Companies with the same profile, two years later
Historical observationIn July 2024, 8,617 companies had the same profile as FIDACK has now. Two years later, 0.4% had gone bankrupt and 94.2% were still going.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
0.4%
went bankrupt
5.2%
stopped otherwise
94.2%
was still going
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of FIDACK itself: 0.2% within 12 months.
Test of the method
The method was tested on the 497,445 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 8,617 companies, not a prediction for FIDACK. 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.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €196,572 | €0 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €55,861 | €62,336 | €53,128 | €76,700 | €63,023 | €63,715 | €63,990 | €62,229 | ▼ 2.8% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | €1,951 | €2,319 | €1,895 | €2,195 | €2,124 | ▼ 3.2% |
| Other operating charges640/8 | - | - | - | €7,407 | €7,264 | €10,312 | €10,507 | €12,701 | ▲ 20.9% |
| Gross operating margin9900 | €172,472 | €61,425 | €370,976 | €213,514 | €39,672 | €28,421 | €35,843 | €35,219 | ▼ 1.7% |
| Operating profit (loss)9901 | €102,438 | -€14,816 | €297,108 | €127,455 | -€32,934 | -€47,501 | -€40,849 | -€41,835 | ▼ 2.4% |
| Financial income75/76B | - | - | - | €1,281 | €1,281 | €1,281 | €0 | - | - |
| Recurring financial income75 | €3,568 | €3,406 | €1,609 | €1,281 | €1,281 | €1,281 | €0 | - | - |
| Financial charges65/66B | - | - | - | €32,993 | €33,092 | €32,272 | €33,885 | €36,351 | ▲ 7.3% |
| Recurring financial charges65 | €32,278 | €34,222 | €33,675 | €32,993 | €33,092 | €32,272 | €33,885 | €36,351 | ▲ 7.3% |
| Profit (loss) for the period before taxes9903 | €73,728 | -€45,632 | €265,041 | €95,744 | -€64,745 | -€78,492 | -€74,734 | -€78,186 | ▼ 4.6% |
| Transfer from deferred taxes780 | - | - | - | €2,948 | €3,675 | €3,675 | €3,675 | €3,675 | = |
| Transfer to deferred taxes680 | - | - | - | €0 | - | - | - | - | - |
| Income taxes67/77 | €148 | €133 | €94 | €237 | €61 | €3,513 | €224 | €207 | ▼ 7.7% |
| Profit (loss) for the period9904 | €73,579 | -€45,765 | €187,182 | €98,455 | -€61,131 | -€78,330 | -€71,283 | -€74,718 | ▼ 4.8% |
| Transfer from tax-exempt reserves789 | - | - | - | €8,845 | €11,024 | €11,024 | €11,024 | €11,024 | = |
| Transfer to tax-exempt reserves689 | - | - | - | €0 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €73,579 | -€45,765 | -€46,112 | €107,300 | -€50,106 | -€67,305 | -€60,259 | -€63,694 | ▼ 5.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.2m | €1.4m | €1.4m | €1.5m | €1.4m | €1.4m | €1.3m | €1.2m | ▼ 5.6% |
| Fixed assets21/28 | €1.1m | €1.3m | €1.2m | €1.4m | €1.4m | €1.3m | €1.3m | €1.2m | ▼ 4.9% |
| Tangible fixed assets22/27 | €1.1m | €1.3m | €1.2m | €1.4m | €1.4m | €1.3m | €1.3m | €1.2m | ▼ 4.9% |
| Land and buildings22 | - | - | - | €1.1m | €1.1m | €1.0m | €1.0m | €1.0m | ▼ 2.8% |
| Leasing and similar rights25 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | ▼ 13.7% |
| Other tangible fixed assets26 | - | - | - | €0.1m | €0.1m | €0.1m | €0.09m | €0.08m | ▼ 12.0% |
| Current assets29/58 | €0.1m | €0.08m | €0.2m | €0.1m | €0.06m | €0.04m | €0.03m | €0.02m | ▼ 38.1% |
| Amounts receivable within one year40/41 | €0.001m | €0.001m | €0.03m | €148 | €187 | €179 | €0 | - | - |
| Trade receivables40 | - | - | - | €0 | - | - | - | - | - |
| Other amounts receivable41 | - | - | - | €148 | €187 | €179 | €0 | - | - |
| Current investments50/53 | €0.07m | €0.04m | €0.03m | €0.03m | €0.03m | €0 | - | - | - |
| Cash at bank and in hand54/58 | €0.04m | €0.04m | €0.2m | €0.07m | €0.03m | €0.04m | €0.03m | €0.01m | ▼ 41.2% |
| Deferred charges and accrued income490/1 | - | - | - | - | €0.002m | €0.004m | €0.004m | €0.003m | ▼ 17.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.2m | €1.4m | €1.4m | €1.5m | €1.4m | €1.4m | €1.3m | €1.2m | ▼ 5.6% |
| Equity10/15 | €0.7m | €0.7m | €0.9m | €1.0m | €0.9m | €0.8m | €0.7m | €0.7m | ▼ 10.0% |
| Contributions10/11 | €0.8m | €0 | - | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | = |
| Reserves13 | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 5.8% |
| Tax-exempt reserves132 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 5.8% |
| Profit (loss) carried forward14 | -€0.03m | -€0.08m | -€0.1m | -€0.02m | -€0.07m | -€0.1m | -€0.2m | -€0.3m | ▼ 32.5% |
| Provisions and deferred taxes16 | €0.3m | €0.3m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 0.4% |
| Provisions for liabilities and charges160/5 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 0.6% |
| Environmental obligations163 | - | - | - | €0.3m | - | - | - | - | - |
| Other liabilities and charges164/5 | - | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 0.6% |
| Deferred taxes168 | - | - | - | €0.07m | €0.07m | €0.07m | €0.06m | €0.06m | ▼ 5.8% |
| Amounts payable17/49 | €0.2m | €0.4m | €0.09m | €0.2m | €0.1m | €0.2m | €0.2m | €0.2m | ▲ 2.0% |
| Amounts payable after more than one year17 | €0.1m | €0.1m | €0.09m | €0.07m | €0.07m | €0.07m | €0.07m | €0.06m | ▼ 1.5% |
| Financial debts170/4 | - | - | - | €0.07m | €0.07m | €0.07m | €0.07m | €0.06m | ▼ 1.5% |
| Amounts payable within one year42/48 | €0.04m | €0.3m | €0.004m | €0.1m | €0.08m | €0.09m | €0.09m | €0.1m | ▲ 4.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Trade debts44 | €102 | €0.02m | €0 | €0.001m | €0.002m | €0.002m | €477 | €0.001m | ▲ 114% |
| Suppliers440/4 | - | - | - | €0.001m | €0.002m | €0.002m | €477 | €0.001m | ▲ 114% |
| Taxes, remuneration and social security45 | - | - | - | €0.006m | €0.004m | €0.004m | €0.004m | €0.004m | ▼ 5.7% |
| Taxes450/3 | - | - | - | €0.006m | €0.004m | €0.004m | €0.004m | €0.004m | ▼ 5.7% |
| Other amounts payable47/48 | - | - | - | €0.1m | €0.07m | €0.09m | €0.09m | €0.09m | ▲ 3.9% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | - | €371 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €73,579 | -€45,765 | €187,182 | €98,455 | -€61,131 | -€78,330 | -€71,283 | -€74,718 | ▼ 4.8% |
| + Depreciation and write-downs630 | €55,861 | €62,336 | €53,128 | €76,700 | €63,023 | €63,715 | €63,990 | €62,229 | ▼ 2.8% |
| Operating cash flow (approximation) | €129,441 | €16,571 | €240,310 | €175,155 | €1,892 | -€14,615 | -€7,294 | -€12,489 | ▼ 71.2% |
| Investment in fixed assets (approximation) | - | -€266,246 | €86,083 | -€365,061 | -€14,837 | -€8,224 | -€3,286 | €0 | - |
| Change in cash | - | €179 | €114,146 | -€76,628 | -€45,545 | €9,649 | -€13,679 | -€10,338 | ▲ 24.4% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 21 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | micro format | 26-10-2026 | 2026-00567979 | NBB |
| 31-03-2025 | micro format | 30-10-2025 | 2025-00554068 | |
| 31-03-2024 | micro format | 28-10-2024 | 2024-00515965 | |
| 31-03-2023 | micro format | 26-10-2023 | 2023-00492539 | |
| 31-03-2022 | micro format | 04-10-2022 | 2022-20453913 | |
| 31-03-2021 | micro format | 28-10-2021 | 2021-74200419 | |
| 31-03-2020 | micro format | 27-11-2020 | 2020-72500535 | |
| 31-03-2019 | micro format | 30-10-2019 | 2019-71800547 | |
| 31-03-2018 | micro format | 31-10-2018 | 2018-70800148 | |
| 31-03-2017 | micro format | 27-10-2017 | 2017-68000363 |