Fidello
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 26-01-2026 PDF all 32 filings
Turnover
≈ €90,000
Estimated: probably between €52,000 and €140,000
Total assets
€293,112▲ 7.1%
2024 · €273,568
Net result
€30,702▲ 43.5%
2024 · €21,390
Working capital
€222,195▲ 16.0%
2024 · €191,493
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€30,942
▲ 56.1%
2025
20192025
Net result
€30,702
▲ 43.5%
2025
highest quarter of the sector
20192025
Equity
€222,146
▲ 16.0%
2025
highest quarter of the sector
20192025
Total assets
€293,112
▲ 7.1%
2025
highest quarter of the sector
20192025
Debt
€70,965
▼ 13.6%
2025
20192025
Working capital
€222,195
▲ 16.0%
2025
highest quarter of the sector
20192025
Solvency
75.8%
▲ 5.8pp
2025
highest quarter of the sector
20192025
Current ratio
4.13
▲ 0.80
2025
middle half of the sector
20192025
Return on assets (ROA)
10.5%
▲ 2.7pp
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€897-€1,028€9,103▲ 786%€29,575▲ 225%€19,640▼ 33.6%€19,817▲ 0.9%€30,942▲ 56.1%
Net result€7,670-€11,095within the sector's middle half▲ 44.7%€8,140within the sector's middle half▼ 26.6%€24,532within the sector's middle half▲ 201%€24,154within the sector's middle half▼ 1.5%€21,390within the sector's middle half▼ 11.4%€30,702above the sector's middle half▲ 43.5%
Equity€102,133-€113,228above the sector's middle half▲ 10.9%€121,368above the sector's middle half▲ 7.2%€145,900above the sector's middle half▲ 20.2%€170,054above the sector's middle half▲ 16.6%€191,444above the sector's middle half▲ 12.6%€222,146above the sector's middle half▲ 16.0%
Total assets€213,466-€200,374within the sector's middle half▼ 6.1%€224,860within the sector's middle half▲ 12.2%€234,285within the sector's middle half▲ 4.2%€256,056within the sector's middle half▲ 9.3%€273,568above the sector's middle half▲ 6.8%€293,112above the sector's middle half▲ 7.1%
Debt€111,333-€87,146▼ 21.7%€103,492▲ 18.8%€88,385▼ 14.6%€86,002▼ 2.7%€82,124▼ 4.5%€70,965▼ 13.6%
Working capital€115,474-€127,122above the sector's middle half▲ 10.1%€136,660above the sector's middle half▲ 7.5%€160,845above the sector's middle half▲ 17.7%€177,575above the sector's middle half▲ 10.4%€191,493above the sector's middle half▲ 7.8%€222,195above the sector's middle half▲ 16.0%
Solvency47.8%-56.5%within the sector's middle half▲ 8.7pp54.0%within the sector's middle half▼ 2.5pp62.3%within the sector's middle half▲ 8.3pp66.4%within the sector's middle half▲ 4.1pp70.0%within the sector's middle half▲ 3.6pp75.8%above the sector's middle half▲ 5.8pp
Current ratio2.19-2.74within the sector's middle half▲ 0.552.55within the sector's middle half▼ 0.193.19within the sector's middle half▲ 0.643.26within the sector's middle half▲ 0.073.33within the sector's middle half▲ 0.074.13within the sector's middle half▲ 0.80
Return on assets (ROA)3.6%-5.5%within the sector's middle half▲ 1.9pp3.6%within the sector's middle half▼ 1.9pp10.5%within the sector's middle half▲ 6.9pp9.4%within the sector's middle half▼ 1.0pp7.8%within the sector's middle half▼ 1.6pp10.5%within the sector's middle half▲ 2.7pp
above
within
below
The sector band is the middle half of the companies in Arts creation and performing arts activities (NACE 90). 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 56% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
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
Equity and liabilities €293,112
Equity
€222,146 ▲ 16.0%
Debt
€70,965 ▼ 13.6%
Debt's share of the balance-sheet total falls from 30.0% to 24.2%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
0.32▼
2024 · 0.43
ROE
13.8%▲
2024 · 11.2%
Debt ≤ 1 year
€70,917▼
2024 · €82,075
Income taxes
€14,419▲
2024 · €10,977
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €553 | €553 | - | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €2,940 | €1,294 | €1,727 | €546 | ▼ 68.4% |
| Gross operating margin9900 | €1,565 | €1,893 | €10,195 | €32,515 | €20,934 | €21,544 | €31,488 | ▲ 46.2% |
| Operating profit (loss)9901 | -€897 | €1,028 | €9,103 | €29,575 | €19,640 | €19,817 | €30,942 | ▲ 56.1% |
| Financial income75/76B | - | - | - | €14,249 | €16,529 | €13,483 | €16,314 | ▲ 21.0% |
| Recurring financial income75 | €15,869 | €17,376 | €20,420 | €14,249 | €16,529 | €13,483 | €16,314 | ▲ 21.0% |
| Financial charges65/66B | - | - | - | €7,504 | €2,820 | €932 | €2,135 | ▲ 129% |
| Recurring financial charges65 | €2,750 | €3,245 | €10,967 | €7,504 | €2,820 | €932 | €2,135 | ▲ 129% |
| Profit (loss) for the period before taxes9903 | €12,222 | €15,159 | €18,556 | €36,320 | €33,350 | €32,367 | €45,121 | ▲ 39.4% |
| Income taxes67/77 | €4,551 | €4,064 | €10,417 | €11,788 | €9,196 | €10,977 | €14,419 | ▲ 31.4% |
| Profit (loss) for the period9904 | €7,670 | €11,095 | €8,140 | €24,532 | €24,154 | €21,390 | €30,702 | ▲ 43.5% |
| Profit (loss) for the period to be appropriated9905 | €7,670 | €11,095 | €9,062 | €24,532 | €24,154 | €21,390 | €30,702 | ▲ 43.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €213,466 | €200,374 | €224,860 | €234,285 | €256,056 | €273,568 | €293,112 | ▲ 7.1% |
| Fixed assets21/28 | €553 | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €553 | - | - | - | - | - | - | - |
| Current assets29/58 | €212,913 | €200,374 | €224,860 | €234,285 | €256,056 | €273,568 | €293,112 | ▲ 7.1% |
| Amounts receivable within one year40/41 | €212,905 | €200,276 | €224,858 | €234,226 | €256,056 | €273,568 | €287,034 | ▲ 4.9% |
| Trade receivables40 | - | - | - | €719 | €4,102 | €8,090 | €3,104 | ▼ 61.6% |
| Other amounts receivable41 | - | - | - | €233,507 | €251,954 | €265,478 | €283,930 | ▲ 7.0% |
| Cash at bank and in hand54/58 | €8 | €98 | €2 | €59 | - | - | €6,078 | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €213,466 | €200,374 | €224,860 | €234,285 | €256,056 | €273,568 | €293,112 | ▲ 7.1% |
| Equity10/15 | €102,133 | €113,228 | €121,368 | €145,900 | €170,054 | €191,444 | €222,146 | ▲ 16.0% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Contributions outside capital11 | - | - | - | €18,600 | - | - | - | - |
| Other1109/19 | - | - | - | €18,600 | - | - | - | - |
| Reserves13 | €66,088 | €66,088 | €65,165 | €65,165 | €65,165 | €86,555 | €117,258 | ▲ 35.5% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €63,305 | €65,165 | €86,555 | €117,258 | ▲ 35.5% |
| Profit (loss) carried forward14 | €17,445 | €28,540 | €37,602 | €62,135 | €86,289 | €86,289 | €86,289 | = |
| Amounts payable17/49 | €111,333 | €87,146 | €103,492 | €88,385 | €86,002 | €82,124 | €70,965 | ▼ 13.6% |
| Amounts payable within one year42/48 | €97,439 | €73,252 | €88,200 | €73,441 | €78,482 | €82,075 | €70,917 | ▼ 13.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | €11,742 | - |
| Financial debts43 | - | - | - | €11,482 | €9,269 | €9,547 | - | - |
| Credit institutions430/8 | - | - | - | €11,482 | €9,269 | €9,547 | - | - |
| Trade debts44 | €56,914 | €46,959 | €58,142 | €50,585 | €60,017 | €59,255 | €58,275 | ▼ 1.7% |
| Suppliers440/4 | - | - | - | €50,585 | €60,017 | €59,255 | €58,275 | ▼ 1.7% |
| Taxes, remuneration and social security45 | - | - | - | €11,375 | €9,196 | €13,273 | €900 | ▼ 93.2% |
| Taxes450/3 | - | - | - | €11,375 | €9,196 | €13,273 | €900 | ▼ 93.2% |
| Accrued charges and deferred income492/3 | - | - | - | €14,945 | €7,521 | €48 | €48 | = |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,670 | €11,095 | €8,140 | €24,532 | €24,154 | €21,390 | €30,702 | ▲ 43.5% |
| + Depreciation and write-downs630 | €553 | €553 | - | - | - | - | - | - |
| Operating cash flow (approximation) | €8,223 | €11,648 | €8,140 | €24,532 | €24,154 | €21,390 | €30,702 | ▲ 43.5% |
| Change in cash | - | €90 | -€97 | €57 | - | - | - | - |
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, 31,368 companies had the same profile as Fidello has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Fidello itself: 0.4% 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 31,368 companies, not a prediction for Fidello. 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 32 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 26-01-2026 | 2026-00013634 | |
| 30-06-2024 | micro format | 31-01-2025 | 2025-00020825 | |
| 30-06-2023 | micro format | 30-01-2024 | 2024-00019666 | |
| 30-06-2022 | micro format | 20-12-2022 | 2022-20542992 | |
| 30-06-2021 | micro format | 31-01-2022 | 2022-04000261 | |
| 30-06-2020 | micro format | 27-01-2021 | 2021-02200488 | |
| 30-06-2019 | micro format | 27-11-2020 | 2020-72800181 | |
| 30-06-2018 | micro format | 25-02-2019 | 2019-05800218 | |
| 30-06-2017 | micro format | 18-12-2017 | 2017-72300160 | |
| 30-06-2016 | abbreviated format | 13-02-2017 | 2017-04400313 |