Fidea
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 30-07-2026 at the NBB all 25 filings
Equity
€398,516▼ 2.3%
2024 · €407,859
Total assets
€399,501▼ 2.5%
2024 · €409,802
Net result
-€9,343▼ 71.8%
2024 · -€5,440
Working capital
€347,016▼ 2.5%
2024 · €356,031
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€17,329
▼ 111%
2025
20182025
Net result
-€9,343
▼ 71.8%
2025
lowest quarter of the sector
20182025
Equity
€398,516
▼ 2.3%
2025
middle half of the sector
20182025
Total assets
€399,501
▼ 2.5%
2025
middle half of the sector
20182025
Debt
€985
▼ 49.3%
2025
20182025
Working capital
€347,016
▼ 2.5%
2025
middle half of the sector
20182025
Solvency
99.8%
▲ 0.2pp
2025
highest quarter of the sector
20182025
Current ratio
no figure
2025
20182025
Return on assets (ROA)
-2.3%
▼ 1.0pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
0
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€13,858--€17,242▼ 24.4%-€13,977▲ 18.9%-€10,202▲ 27.0%-€10,485▼ 2.8%-€14,431▼ 37.6%-€8,206▲ 43.1%-€17,329▼ 111%
Net result-€17,795--€17,980▼ 1.0%-€13,189below the sector's middle half▲ 26.6%-€9,639below the sector's middle half▲ 26.9%-€10,201below the sector's middle half▼ 5.8%-€12,929below the sector's middle half▼ 26.7%-€5,440below the sector's middle half▲ 57.9%-€9,343below the sector's middle half▼ 71.8%
Equity€477,237-€459,257▼ 3.8%€446,068above the sector's middle half▼ 2.9%€436,429above the sector's middle half▼ 2.2%€426,228above the sector's middle half▼ 2.3%€413,299above the sector's middle half▼ 3.0%€407,859within the sector's middle half▼ 1.3%€398,516within the sector's middle half▼ 2.3%
Total assets€479,703-€462,455▼ 3.6%€451,785within the sector's middle half▼ 2.3%€438,900within the sector's middle half▼ 2.9%€429,622within the sector's middle half▼ 2.1%€415,010within the sector's middle half▼ 3.4%€409,802below the sector's middle half▼ 1.3%€399,501within the sector's middle half▼ 2.5%
Debt€2,465-€3,198▲ 29.7%€5,717▲ 78.8%€2,471▼ 56.8%€3,394▲ 37.4%€1,711▼ 49.6%€1,943▲ 13.5%€985▼ 49.3%
Working capital€419,164-€408,896▼ 2.4%€402,641above the sector's middle half▼ 1.5%€392,559above the sector's middle half▼ 2.5%€382,468above the sector's middle half▼ 2.6%€369,216above the sector's middle half▼ 3.5%€356,031within the sector's middle half▼ 3.6%€347,016within the sector's middle half▼ 2.5%
Solvency99.5%-99.3%▼ 0.2pp98.7%above the sector's middle half▼ 0.6pp99.4%above the sector's middle half▲ 0.7pp99.2%above the sector's middle half▼ 0.2pp99.6%above the sector's middle half▲ 0.4pp99.5%above the sector's middle half▼ 0.1pp99.8%above the sector's middle half▲ 0.2pp
Current ratio71.43above the sector's middle half
Return on assets (ROA)-3.7%--3.9%▼ 0.2pp-2.9%below the sector's middle half▲ 1.0pp-2.2%below the sector's middle half▲ 0.7pp-2.4%below the sector's middle half▼ 0.2pp-3.1%below the sector's middle half▼ 0.7pp-1.3%below the sector's middle half▲ 1.8pp-2.3%below the sector's middle half▼ 1.0pp
Staff (FTE)0below the sector's middle half0below the sector's middle half
above
within
below
The sector band is the middle half of the companies in Legal and accounting activities (NACE 69). 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 €17,329, larger than the loss of €8,206 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €399,501
Fixed assets
€51,500 ▼ 0.6%
Current assets
€348,001 ▼ 2.8%
Equity and liabilities €399,501
Equity
€398,516 ▼ 2.3%
Debt
€985 ▼ 49.3%
Debt's share of the balance-sheet total falls from 0.5% to 0.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€17,002▼
2024 · -€7,363
Cash flow
-€9,015▼
2024 · -€4,597
Debt to equity
0.00▼
2024 · 0.00
ROE
-2.3%▼
2024 · -1.3%
Interest coverage
-35.65▼
2024 · -17.78
Debt ≤ 1 year
€985▼
2024 · €1,943
Income taxes
€241▲
2024 · €227
A ratio outside any meaningful range has been withheld (balance sheet total €399,501, equity €398,516).
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 | €554 | - | €651 | - | - |
| Financial fixed assets | - | - | - | €9,000 | €0 |
| Depreciation and write-downs of the year | €111 | €111 | €328 | €843 | €328 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
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 | €8,220 | €7,712 | €6,934 | €111 | €111 | €328 | €843 | €328 | ▼ 61.1% |
| Other operating charges640/8 | - | - | - | €799 | €1,241 | €2,172 | €1,080 | €1,205 | ▲ 11.5% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €412 | €0 | ▼ 100% |
| Gross operating margin9900 | -€4,326 | -€8,216 | -€6,053 | -€9,292 | -€9,133 | -€11,932 | -€5,871 | -€15,797 | ▼ 169% |
| Operating profit (loss)9901 | -€13,858 | -€17,242 | -€13,977 | -€10,202 | -€10,485 | -€14,431 | -€8,206 | -€17,329 | ▼ 111% |
| Financial income75/76B | - | - | - | €1,537 | €900 | €2,143 | €3,408 | €8,704 | ▲ 155% |
| Recurring financial income75 | €1,400 | - | €1,700 | €1,537 | €900 | €2,143 | €3,408 | €8,704 | ▲ 155% |
| Financial charges65/66B | - | - | - | €535 | €360 | €401 | €414 | €477 | ▲ 15.2% |
| Recurring financial charges65 | €206 | €315 | €526 | €535 | €360 | €401 | €414 | €477 | ▲ 15.2% |
| Profit (loss) for the period before taxes9903 | -€12,665 | -€17,557 | -€12,803 | -€9,200 | -€9,945 | -€12,689 | -€5,213 | -€9,102 | ▼ 74.6% |
| Income taxes67/77 | €5,130 | €423 | €386 | €439 | €256 | €240 | €227 | €241 | ▲ 6.2% |
| Profit (loss) for the period9904 | -€17,795 | -€17,980 | -€13,189 | -€9,639 | -€10,201 | -€12,929 | -€5,440 | -€9,343 | ▼ 71.8% |
| Profit (loss) for the period to be appropriated9905 | -€17,795 | -€17,980 | -€13,189 | -€9,639 | -€10,201 | -€12,929 | -€5,440 | -€9,343 | ▼ 71.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €479,703 | €462,455 | €451,785 | €438,900 | €429,622 | €415,010 | €409,802 | €399,501 | ▼ 2.5% |
| Fixed assets21/28 | €58,073 | €50,361 | €43,427 | €43,870 | €43,760 | €44,083 | €51,828 | €51,500 | ▼ 0.6% |
| Tangible fixed assets22/27 | €15,573 | €7,861 | €927 | €1,370 | €1,260 | €1,583 | €328 | €0 | ▼ 100% |
| Furniture and vehicles24 | - | - | - | €1,370 | €1,260 | €1,583 | €328 | €0 | ▼ 100% |
| Financial fixed assets28 | €42,500 | €42,500 | €42,500 | €42,500 | €42,500 | €42,500 | €51,500 | €51,500 | = |
| Current assets29/58 | €421,630 | €412,094 | €408,358 | €395,030 | €385,862 | €370,927 | €357,974 | €348,001 | ▼ 2.8% |
| Amounts receivable within one year40/41 | €174,494 | €177,145 | €190,021 | €162,605 | €205,822 | €162,786 | €222,732 | €231,073 | ▲ 3.7% |
| Trade receivables40 | - | - | - | €64,569 | €64,022 | €66,136 | €28,774 | €28,356 | ▼ 1.5% |
| Other amounts receivable41 | - | - | - | €98,036 | €141,800 | €96,650 | €193,958 | €202,717 | ▲ 4.5% |
| Current investments50/53 | - | - | €58,977 | €82,977 | €84,769 | €84,769 | €84,769 | €84,769 | = |
| Cash at bank and in hand54/58 | €247,135 | €234,949 | €159,360 | €149,448 | €95,270 | €123,372 | €48,354 | €28,549 | ▼ 41.0% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | €2,118 | €3,610 | ▲ 70.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €479,703 | €462,455 | €451,785 | €438,900 | €429,622 | €415,010 | €409,802 | €399,501 | ▼ 2.5% |
| Equity10/15 | €477,237 | €459,257 | €446,068 | €436,429 | €426,228 | €413,299 | €407,859 | €398,516 | ▼ 2.3% |
| Contributions10/11 | €18,592 | €18,592 | - | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €343,618 | €343,618 | €343,618 | €343,618 | €343,618 | €343,618 | €343,618 | €341,759 | ▼ 0.5% |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | €1,859 | €0 | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,859 | €1,859 | €1,859 | €0 | - | - |
| Tax-exempt reserves132 | - | - | - | €341,759 | €341,759 | €341,759 | €341,759 | €341,759 | = |
| Distributable reserves133 | - | - | - | - | - | - | €1,859 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | €115,027 | €97,047 | €83,858 | €74,219 | €64,018 | €51,088 | €45,649 | €38,165 | ▼ 16.4% |
| Amounts payable17/49 | €2,465 | €3,198 | €5,717 | €2,471 | €3,394 | €1,711 | €1,943 | €985 | ▼ 49.3% |
| Amounts payable within one year42/48 | €2,465 | €3,198 | €5,717 | €2,471 | €3,394 | €1,711 | €1,943 | €985 | ▼ 49.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €808 | €1,120 | €1,129 | €1,130 | €0 | ▼ 100% |
| Trade debts44 | €1,409 | €2,141 | €248 | €585 | €272 | €333 | €242 | €727 | ▲ 200% |
| Suppliers440/4 | - | - | - | €585 | €272 | €333 | €242 | €727 | ▲ 200% |
| Taxes, remuneration and social security45 | - | - | - | €689 | €2,001 | €249 | €571 | €258 | ▼ 54.8% |
| Taxes450/3 | - | - | - | €689 | €2,001 | €249 | €571 | €258 | ▼ 54.8% |
| Other amounts payable47/48 | - | - | - | €389 | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€17,795 | -€17,980 | -€13,189 | -€9,639 | -€10,201 | -€12,929 | -€5,440 | -€9,343 | ▼ 71.8% |
| + Depreciation and write-downs630 | €8,220 | €7,712 | €6,934 | €111 | €111 | €328 | €843 | €328 | ▼ 61.1% |
| Operating cash flow (approximation) | -€9,575 | -€10,268 | -€6,255 | -€9,528 | -€10,090 | -€12,602 | -€4,597 | -€9,015 | ▼ 96.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€554 | €0 | -€651 | -€8,588 | €0 | - |
| Change in cash | - | -€12,186 | -€75,589 | -€9,912 | -€54,177 | €28,101 | -€75,017 | -€19,806 | ▲ 73.6% |
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, 12,322 companies had the same profile as Fidea has now. Two years later, 90.3% were still going and 0.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
90.3%
was still going
8.6%
stopped otherwise
0.7%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Fidea 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 12,322 companies, not a prediction for Fidea. 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 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 30-07-2026 | 2026-00355948 | |
| 31-12-2024 | abbreviated format | 28-08-2025 | 2025-00424468 | |
| 31-12-2023 | micro format | 02-08-2024 | 2024-00326004 | |
| 31-12-2022 | micro format | 01-09-2023 | 2023-00416253 | |
| 31-12-2021 | micro format | 25-11-2022 | 2022-20525848 | |
| 31-12-2020 | micro format | 25-11-2021 | 2021-78200433 | |
| 31-12-2019 | micro format | 26-11-2020 | 2020-72100162 | |
| 31-12-2018 | micro format | 31-07-2019 | 2019-41500182 | |
| 31-12-2017 | micro format | 03-01-2019 | 2019-00200454 | |
| 31-12-2016 | micro format | 03-01-2019 | 2019-00200338 |