Losses
Every financial year from 2017 to 2025 closed with a loss. 2017 was the heaviest.
In July 2024, 8,613 companies had the same profile as FIVE has now. Each dot stands for 22 companies, two years later.
Another 0.2% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,762 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 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
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 8,613 companies, not a prediction for FIVE. 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.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
FIVE has existed since 1983. The gross margin fell from €3.3m in 2016 to €61,956 in 2017.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||||
20/58 |
3.0m | 3.1m | 3.2m | 3.3m | 3.5m | 3.6m | 3.7m | 3.8m | 3.9m | 4.3m | 1.9m | 1.6m | 1.6m | 1.7m | 1.7m | 1.8m | 855,839 | 900,315 | 214,825 | |
20 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 280 | 559 | 839 | 1,118 | 0 | - | |
21/28 |
3.0m | 3.1m | 3.2m | 3.3m | 3.4m | 3.6m | 3.7m | 3.8m | 3.9m | 3.8m | 1.8m | 1.5m | 1.6m | 1.7m | 1.7m | 1.8m | 846,595 | 893,528 | 105,331 | |
21 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
22/27 |
3.0m | 3.1m | 3.2m | 3.3m | 3.4m | 3.6m | 3.7m | 3.8m | 3.9m | 3.8m | 1.8m | 1.5m | 1.6m | 1.7m | 1.7m | 1.8m | 845,477 | 893,528 | 105,331 | |
22 |
3.0m | 3.1m | 3.2m | 3.3m | 3.4m | 3.6m | 3.7m | 3.8m | 3.9m | 3.8m | 895,955 | 927,024 | 959,803 | 992,582 | 1.0m | 1.1m | 51,167 | 55,106 | 62,984 | |
23 |
- | - | - | - | - | - | - | - | - | - | 560,178 | 577,997 | 602,246 | 629,636 | 664,673 | 700,786 | 737,348 | 774,364 | 42,347 | |
24 |
11,500 | 11,500 | 11,500 | 11,500 | 11,500 | 11,500 | 11,500 | 11,500 | 11,500 | - | 19,918 | 28,716 | 28,742 | 35,673 | 42,770 | 49,866 | 56,962 | 64,058 | - | |
26 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,212 | - | 0 | 0 | - | |
27 |
- | - | - | - | - | - | - | - | - | - | 360,000 | - | - | - | - | - | 0 | 0 | - | |
28 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
29/58 |
5,661 | 3,650 | 7,228 | 3,967 | 6,508 | 15,552 | 9,492 | 9,296 | 11,179 | 441,143 | 34,682 | 28,452 | 25,484 | 15,697 | 11,479 | 10,112 | 9,244 | 6,787 | 109,494 | |
290 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
291 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
3 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
30/36 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
37 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
40/41 |
- | - | - | - | - | 458 | - | - | - | - | 1,130 | 8 | 8,795 | 6,462 | 2,906 | 8 | 21 | 1,853 | - | |
40 |
- | - | - | - | - | 458 | - | - | - | - | 1,126 | - | 5,888 | 3,555 | - | - | 0 | 499 | - | |
41 |
- | - | - | - | - | - | - | - | - | - | 4 | 8 | 2,906 | 2,906 | 2,906 | 8 | 21 | 1,354 | - | |
50/53 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | 100,080 | |
54/58 |
2,785 | 1,113 | 4,632 | 1,790 | 4,550 | 13,198 | 7,651 | 7,524 | 11,179 | 441,143 | 33,548 | 28,435 | 14,686 | 7,233 | 6,572 | 8,104 | 6,220 | 2,934 | 7,832 | |
490/1 |
2,876 | 2,538 | 2,596 | 2,177 | 1,959 | 1,897 | 1,841 | 1,772 | - | - | 4 | 10 | 2,003 | 2,002 | 2,000 | 2,000 | 3,003 | 2,000 | 1,582 | |
| Balance sheet: equity and liabilities | ||||||||||||||||||||
10/49 |
3.0m | 3.1m | 3.2m | 3.3m | 3.5m | 3.6m | 3.7m | 3.8m | 3.9m | 4.3m | 1.9m | 1.6m | 1.6m | 1.7m | 1.7m | 1.8m | 855,839 | 900,315 | 214,825 | |
10/15 |
1.4m | 1.5m | 1.5m | 1.6m | 1.6m | 1.7m | 1.7m | 1.8m | 1.8m | 1.9m | 69,567 | 62,774 | 42,906 | 43,251 | 54,939 | 78,222 | 116,896 | 1,404 | 61,774 | |
10/11 |
20,460 | 20,460 | 20,460 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 212,000 | 212,000 | 212,000 | 212,000 | 212,000 | 212,000 | 212,000 | 62,000 | 62,000 | |
10 |
- | - | - | 18,600 | 18,600 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
100 |
- | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 212,000 | 212,000 | 212,000 | 212,000 | 212,000 | 212,000 | 212,000 | 62,000 | 62,000 | |
101 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
11 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
1100/10 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
12 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
13 |
1.4m | 1.4m | 1.4m | 1.5m | 1.6m | 1.6m | 1.7m | 1.7m | 1.8m | 1.8m | 3,973 | 3,973 | 3,973 | 3,973 | 3,973 | 3,973 | 3,973 | 3,973 | 3,972 | |
130/1 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 936 | 936 | 936 | 936 | 936 | 936 | 936 | 936 | 936 | |
1312 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
1319 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
132 |
1.3m | 1.4m | 1.4m | 1.5m | 1.6m | 1.6m | 1.7m | 1.7m | 1.8m | 1.8m | - | - | - | - | - | - | 0 | 0 | - | |
133 |
19,316 | 3,037 | 3,037 | 3,037 | 3,037 | 3,037 | 3,037 | 3,037 | 3,037 | 3,037 | 3,037 | 3,037 | 3,037 | 3,037 | 3,037 | 3,037 | 3,037 | 3,037 | 3,036 | |
14 |
67,680 | 67,680 | 52,434 | 39,269 | 29,930 | 17,172 | 14,758 | 6,155 | 3,733 | 15,400 | -146,406 | -153,199 | -173,067 | -172,722 | -161,034 | -137,751 | -99,077 | -64,569 | -4,198 | |
15 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
19 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
16 |
452,805 | 471,918 | 491,312 | 510,706 | 530,100 | 549,494 | 568,887 | 588,281 | 607,675 | 627,069 | - | - | - | - | - | - | - | - | - | |
160/5 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
168 |
452,805 | 471,918 | 491,312 | 510,706 | 530,100 | 549,494 | 568,887 | 588,281 | 607,675 | 627,069 | - | - | - | - | - | - | 0 | 0 | - | |
17/49 |
1.1m | 1.1m | 1.2m | 1.3m | 1.3m | 1.4m | 1.4m | 1.5m | 1.5m | 1.7m | 1.8m | 1.5m | 1.6m | 1.6m | 1.7m | 1.7m | 738,942 | 898,911 | 153,051 | |
17 |
867,523 | 932,485 | 993,994 | 1.1m | 1.1m | 1.2m | 1.2m | 1.3m | 1.3m | 1.4m | 1.1m | 1.2m | 1.3m | 1.3m | 1.4m | 1.4m | 704,949 | 873,268 | 150,985 | |
170/4 |
56,913 | 121,875 | 183,383 | 241,622 | 296,765 | 348,976 | 398,412 | 445,220 | 489,539 | 531,503 | 737,699 | 799,309 | 857,861 | 913,511 | 966,404 | 1.0m | 295,464 | 313,783 | - | |
175 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
176 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
178/9 |
810,611 | 810,611 | 810,611 | 810,611 | 810,611 | 810,611 | 810,611 | 810,611 | 810,611 | 821,611 | 409,485 | 409,485 | 409,485 | 409,485 | 409,485 | 409,485 | 409,485 | 559,485 | 150,985 | |
42/48 |
213,294 | 204,954 | 204,622 | 195,183 | 192,724 | 192,588 | 193,102 | 195,714 | 194,893 | 379,570 | 651,148 | 290,577 | 302,874 | 307,621 | 315,225 | 314,518 | 33,880 | 24,342 | 2,066 | |
42 |
64,962 | 61,509 | 58,239 | 55,143 | 52,211 | 49,436 | 46,808 | 44,319 | 41,963 | 39,733 | 64,653 | 58,553 | 58,378 | 52,893 | 52,721 | 50,822 | 19,809 | 18,941 | - | |
43 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,718 | |
430/8 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | 1,718 | |
439 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
44 |
0 | 410 | - | 226 | 720 | 363 | 716 | 3 | 683 | 131,677 | 506 | - | 348 | - | 1,169 | 982 | 876 | 3,811 | 348 | |
440/4 |
0 | 410 | - | 226 | 720 | 363 | 716 | 3 | 683 | 131,677 | 506 | - | 348 | - | 1,169 | 982 | 876 | 3,811 | 348 | |
441 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
46 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
45 |
1,641 | 3,222 | 2,570 | - | - | - | - | - | - | 3,695 | - | - | - | - | - | - | - | - | - | |
450/3 |
1,641 | 3,222 | 2,570 | - | - | - | - | - | - | 3,695 | - | - | - | - | - | - | 0 | 0 | - | |
454/9 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
47/48 |
146,692 | 139,814 | 143,814 | 139,814 | 139,792 | 142,789 | 145,578 | 151,391 | 152,246 | 204,466 | 585,989 | 232,024 | 244,148 | 254,728 | 261,336 | 262,714 | 13,196 | 1,590 | - | |
492/3 |
6,731 | 6,731 | 6,731 | 6,350 | 7,531 | 19,241 | 7,630 | 6,350 | 6,361 | 7,699 | 2,835 | 45 | 3,150 | 1 | - | - | 113 | 1,302 | - | |
| Income statement | ||||||||||||||||||||
70 |
- | - | 92,533 | 90,475 | 89,976 | 94,343 | 97,030 | 90,822 | 79,520 | 3.4m | 135,691 | 151,215 | 135,058 | 139,640 | 126,998 | 51,906 | 42,000 | 32,264 | - | |
76A |
- | - | - | - | - | - | - | - | - | 3.3m | - | - | - | - | - | - | 0 | 0 | - | |
9900 |
81,094 | 81,824 | 81,847 | 78,283 | 84,284 | 81,237 | 83,968 | 74,042 | 61,956 | 3.3m | 126,720 | 146,313 | 128,493 | 131,935 | 120,432 | 37,858 | 35,137 | 21,517 | 21,089 | |
60/61 |
- | - | 10,686 | 12,192 | 5,692 | 13,106 | 13,062 | 16,781 | 17,564 | 102,256 | 8,971 | -4,902 | 6,565 | 7,705 | 6,567 | 14,047 | 6,863 | 10,747 | - | |
62 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
630 |
118,805 | 118,805 | 118,652 | 118,436 | 118,436 | 118,436 | 118,436 | 118,211 | 117,955 | 563,568 | 67,383 | 67,928 | 67,379 | 76,403 | 76,403 | 50,464 | 48,331 | 41,075 | 7,530 | |
631/4 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
635/8 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
640/8 |
8,109 | 7,136 | 6,885 | 6,154 | 6,892 | 13,542 | 7,580 | 1,741 | 1,723 | 16,000 | 8,416 | 11,656 | 11,754 | 11,382 | 11,010 | 7,612 | 7,472 | 4,058 | 505 | |
649 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
66A |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
9901 |
-45,819 | -44,117 | -43,691 | -46,307 | -41,045 | -50,741 | -42,048 | -45,910 | -57,722 | 2.7m | 50,921 | 66,728 | 49,360 | 44,149 | 33,018 | -20,217 | -20,666 | -23,616 | 13,054 | |
75/76B |
- | - | - | - | - | - | - | - | - | 157 | 17 | 31 | 3 | 21 | 12 | - | 52 | 88 | - | |
75 |
- | - | - | - | - | - | - | - | - | 157 | 17 | 31 | 3 | 21 | 12 | - | 52 | 88 | - | |
65/66B |
8,597 | 11,867 | 14,963 | 17,894 | 20,649 | 23,296 | 25,800 | 28,119 | 30,368 | 81,704 | 44,146 | 46,892 | 49,707 | 55,857 | 56,312 | 18,457 | 13,894 | 14,511 | 3,676 | |
65 |
8,597 | 11,867 | 14,963 | 17,894 | 20,649 | 23,296 | 25,800 | 28,119 | 30,368 | 81,704 | 44,146 | 46,892 | 49,707 | 55,857 | 56,312 | 18,457 | 13,894 | 14,511 | 3,676 | |
9903 |
-54,416 | -55,984 | -58,654 | -64,201 | -61,693 | -74,037 | -67,849 | -74,029 | -88,090 | 2.6m | 6,793 | 19,868 | -344 | -11,687 | -23,282 | -38,674 | -34,508 | -38,038 | 9,378 | |
780 |
19,113 | 19,394 | 19,394 | 19,394 | 19,394 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
67/77 |
5,756 | 5,222 | 4,632 | 2,912 | 2,000 | - | - | - | 30 | 3,698 | - | - | 1 | 1 | 2 | - | 0 | 0 | 92 | |
9904 |
-41,059 | -41,812 | -43,892 | -47,719 | -44,300 | -54,643 | -48,455 | -54,635 | -68,726 | 2.0m | 6,793 | 19,868 | -345 | -11,688 | -23,284 | -38,674 | -34,508 | -38,038 | 9,286 | |
789 |
57,339 | 57,058 | 57,058 | 57,058 | 57,058 | 57,058 | 57,058 | 57,058 | 57,058 | 57,058 | - | - | - | - | - | - | 0 | 0 | - | |
689 |
- | - | - | - | - | - | - | - | - | 1.9m | - | - | - | - | - | - | 0 | 0 | - | |
9905 |
16,280 | 15,245 | 13,165 | 9,339 | 12,758 | 2,415 | 8,603 | 2,422 | -11,668 | 162,731 | 6,793 | 19,868 | -345 | -11,688 | -23,284 | -38,674 | -34,508 | -38,038 | 9,286 | |
| Appropriation of the result | ||||||||||||||||||||
9906 |
83,959 | 67,680 | 52,434 | 39,269 | 29,930 | 17,172 | 14,758 | 6,155 | 3,733 | 16,324 | -146,406 | -153,199 | -173,067 | -172,722 | -161,034 | -137,751 | -99,077 | -64,569 | -4,166 | |
14P |
67,680 | 52,434 | 39,269 | 29,930 | 17,172 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
791/2 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
691/2 |
16,280 | - | - | - | - | - | - | - | - | 924 | - | - | - | - | - | - | - | - | 32 | |
691 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
6920 |
- | - | - | - | - | - | - | - | - | 924 | - | - | - | - | - | - | 0 | 0 | 32 | |
6921 |
16,280 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
694 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
695 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | - | |
| Document | ||||||||||||||||||||
The accounts for 16 older financial years (1984-2005) were filed as documents without figures as data, scans for example.
The notes to these accounts have 10 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 10-06-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 10-06-2026 | 2026-00150662 | |
| 31-12-2024 | full format | 06-05-2025 | 2025-00090842 | |
| 31-12-2023 | full format | 08-05-2024 | 2024-00085243 | |
| 31-12-2022 | micro format | 03-05-2023 | 2023-00080222 | |
| 31-12-2021 | micro format | 17-05-2022 | 2022-20029268 | |
| 31-12-2020 | micro format | 17-05-2021 | 2021-14300275 | |
| 31-12-2019 | micro format | 20-05-2020 | 2020-12600531 | |
| 31-12-2018 | micro format | 08-05-2019 | 2019-12600009 | |
| 31-12-2017 | full format | 03-05-2018 | 2018-12200505 | |
| 31-12-2016 | full format | 19-05-2017 | 2017-12600300 | |
| 31-12-2015 | full format | 30-05-2016 | 2016-13800015 | |
| 31-12-2014 | full format | 12-05-2015 | 2015-11700586 | |
| 31-12-2013 | full format | 15-05-2014 | 2014-12500369 | |
| 31-12-2012 | full format | 22-05-2013 | 2013-12800510 | |
| 31-12-2011 | full format | 29-05-2012 | 2012-13100166 | |
| 31-12-2010 | full format | 13-05-2011 | 2011-11200393 | |
| 31-12-2009 | full format | 07-05-2010 | 2010-11800273 | |
| 31-12-2008 | full format | 12-05-2009 | 2009-14500053 | |
| 31-12-2007 | full format | 17-06-2008 | 2008-26700106 | |
| 31-12-2006 | full format | 29-10-2007 | 2007-78500240 | |
| 31-12-2005 | full format | 29-06-2006 | 2006-35805208 | |
| 31-12-2004 | full format | 04-10-2005 | 2005-81200751 | |
| 31-12-2003 | full format | 29-10-2004 | 2004-76402693 | |
| 31-12-2002 | full format | 09-10-2003 | 2003-73602156 | |
| 31-12-2001 | full format | 04-10-2002 | 2002-63001789 | |
| 31-12-2000 | full format | 24-08-2001 | 2001-51804713 | |
| 31-12-1999 | full format | 07-08-2000 | 2000-50000942 | |
| 31-12-1998 | full format | 24-12-1999 | 1999-64702067 | |
| 31-12-1997 | full format | 14-01-1999 | 1999-01001266 | |
| 31-12-1996 | full format | 14-01-1999 | 1999-01001252 | |
| 31-12-1995 | full format | 14-01-1999 | 1999-01001238 | |
| 31-12-1994 | full format | 24-02-1997 | 1997-02504444 | |
| 31-12-1993 | full format | 24-02-1997 | 1997-02504432 | |
| 31-12-1987 | full format | 25-05-1989 | 1989-05101653 | |
| 31-12-1985 | full format | 15-05-1987 | 1987-06301720 | |
| 31-12-1984 | full format | 11-02-1987 | 1987-01901322 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 72,985 | 74,688 | 74,961 | 72,129 | 77,391 | 67,695 | 76,388 | 72,300 | 60,233 | 3.3m | 118,304 | 134,656 | 116,739 | 120,553 | 109,421 | 30,247 | 27,665 | 17,460 | 20,584 | ||
| 77,745 | 76,992 | 74,760 | 70,717 | 74,136 | 63,793 | 69,981 | 63,575 | 49,230 | 2.6m | 74,176 | 87,796 | 67,034 | 64,715 | 53,120 | 11,790 | 13,823 | 3,037 | 16,816 | ||
| 0 | 0 | 3,686 | 0 | 0 | 0 | 2,253 | 2,555 | 220,821 | 4.4m | 369,697 | 10,873 | 0 | 0 | 1,346 | 1.0m | 280 | 250,112 | 40,543 | ||
| 1,672 | -3,520 | 2,842 | -2,760 | -8,648 | 5,547 | 127 | -3,655 | -429,965 | 407,595 | 5,114 | 13,748 | 7,453 | 661 | -1,532 | 1,885 | 3,286 | - | - | ||
| -207,633 | -201,304 | -197,394 | -191,216 | -186,215 | -177,036 | -183,610 | -186,417 | -183,714 | 61,573 | -616,466 | -262,125 | -277,390 | -291,924 | -303,747 | -304,405 | -24,637 | -17,555 | 107,428 | ||
| - | - | -47.2% | -51.2% | -45.6% | -53.8% | -43.3% | -50.5% | -72.6% | 80.0% | 37.5% | 44.1% | 36.5% | 31.6% | 26.0% | -38.9% | -49.2% | -73.2% | - | ||
| 48.3% | 47.8% | 47.3% | 47.0% | 46.7% | 46.3% | 46.4% | 46.2% | 46.3% | 44.3% | 3.7% | 4.0% | 2.7% | 2.6% | 3.1% | 4.3% | 13.7% | 0.2% | 28.8% | ||
| 0.03 | 0.02 | 0.04 | 0.02 | 0.03 | 0.08 | 0.05 | 0.05 | 0.06 | 1.16 | 0.05 | 0.10 | 0.08 | 0.05 | 0.04 | 0.03 | 0.27 | 0.28 | 53.00 | ||
| 0.76 | 0.77 | 0.79 | 0.80 | 0.81 | 0.83 | 0.82 | 0.83 | 0.83 | 0.92 | 25.89 | 23.89 | 36.67 | 37.70 | 30.78 | 22.26 | 6.32 | - | 2.48 | ||
| -2.9% | -2.8% | -2.9% | -3.0% | -2.7% | -3.3% | -2.8% | -3.1% | -3.8% | 106.6% | 9.8% | 31.7% | -0.8% | -27.0% | -42.4% | -49.4% | -29.5% | - | 15.0% | ||
| -1.4% | -1.4% | -1.4% | -1.4% | -1.3% | -1.5% | -1.3% | -1.4% | -1.8% | 47.2% | 0.4% | 1.3% | 0.0% | -0.7% | -1.3% | -2.1% | -4.0% | -4.2% | 4.3% | ||
| 8.49 | 6.29 | 5.01 | 4.03 | 3.75 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ||
| - | - | - | - | - | 2 days | - | - | - | - | 3 days | 0 days | 16 days | 9 days | 8 days | 0 days | 0 days | 6 days | - | ||
| - | - | - | 7 days | 46 days | 10 days | 20 days | 0 days | 14 days | 470 days | 21 days | - | 19 days | - | 65 days | 26 days | 47 days | 129 days | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €3,686 | - | - |
| €118,805 | €118,805 | €118,652 | €118,436 | €118,436 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €45,819, larger than the loss of €44,117 in 2024. It is the lowest result since 2022.
Debt's share of the balance-sheet total falls from 37.0% to 36.5%. Equity and debt are lower.
FIVE has no parent and no holdings in its annual accounts.
| NICAPHIS
registered office since 09-12-1987 · founded in 1987 |
total assets €64.6m (2025) 0432.774.804 |
| CETERIS PARIBUS MANAGEMENT
registered office since 09-03-2005 · founded in 2005 · negative equity (2025) |
total assets €365,286 (2025) 0872.386.524 |
| Grand Tour
registered office since 15-11-2018 · founded in 2018 |
total assets €16,931 (2025) 0713.565.949 |
The network starts from the directors of FIVE. Every other company they run is a node.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Louizalaan 551 registered office 1050 Brussels |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 21822R0226/00C010 | 311 m² | 1 · 200 m² | 17.7 m · 5 |
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