FIVE TREES
ActiveSummary
FIVE TREES has been active since 1999 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5.1m and a net result of -€125,607. Equity remains stable across the filed financial years (±1.9% per year). The computed 12-month bankruptcy probability is 0.3% (very low).
Financials · financial year 2025, abbreviated format
Equity
€5.1m▼ 2.4%
2024 · €5.2m
Total assets
€9.3m▲ 10.5%
2024 · €8.4m
Net result
-€125,607▼ 5,953%
2024 · -€2,075
Working capital
€246,407▼ 79.1%
2024 · €1.2m
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €59,642 in 2025 against €77,056 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€0.06m
2025
Net result-€0.1m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€9.3m
2025
Equity€5.1m
2025
Debt€4.2m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€0.2m
2025
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€0.05m--€0.1m▼ 144%-€0.1m▲ 13.9%-€0.1m▲ 7.1%-€0.1m▼ 15.7%-€0.1m▲ 11.0%-€0.08m▲ 21.3%-€0.06m▲ 22.6%
Net result€0.1m--€0.05m-€0.02m▲ 51.3%-€0.1m▼ 374%-€0.08m▲ 23.9%€0.9m-€0.002m-€0.1m▼ 5,953%
Equity€4.6m-€4.5m▼ 1.0%€4.5m▼ 0.5%€4.4m▼ 2.4%€4.3m▼ 1.9%€5.2m▲ 21.7%€5.2m=€5.1m▼ 2.4%
Total assets€5.8m-€5.7m▼ 1.3%€5.7m▲ 1.0%€5.6m▼ 3.0%€5.1m▼ 8.4%€6.2m▲ 22.6%€8.4m▲ 34.6%€9.3m▲ 10.5%
Debt€1.2m-€1.2m▼ 2.4%€1.2m▲ 6.6%€1.2m▼ 4.9%€0.8m▼ 32.7%€1.0m▲ 27.8%€3.2m▲ 213%€4.2m▲ 31.8%
Working capital€5.7m-€5.7m▼ 0.8%€5.6m▼ 0.4%€2.0m▼ 63.7%€0.3m▼ 86.6%€1.0m▲ 270%€1.2m▲ 16.2%€0.2m▼ 79.1%
Turnover and EBIT margin not published: the abbreviated format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €9.3m
Fixed assets
€7.2m ▲ 12.9%
Current assets
€2.1m ▲ 3.3%
Equity and liabilities €9.3m
Equity
€5.1m ▼ 2.4%
Debt
€4.2m ▲ 31.8%
Debt's share of the balance-sheet total rises from 37.8% to 45.1%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
1.13▼
2024 · 2.37
Debt to equity
0.82▲
2024 · 0.61
ROE
-2.5%▼
2024 · 0.0%
ROA
-1.4%▼
2024 · 0.0%
Debt ≤ 1 year
€1.9m▲
2024 · €859,257
Debt > 1 year
€2.3m▲
2024 · €2.3m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €0.001m | €0.003m | €0.001m | €0.001m | €0.001m | ▲ 4.2% |
| Gross operating margin9900 | -€0.05m | -€0.1m | -€0.1m | -€0.09m | -€0.1m | -€0.1m | -€0.08m | -€0.06m | ▲ 23.0% |
| Operating profit (loss)9901 | -€0.05m | -€0.1m | -€0.1m | -€0.1m | -€0.1m | -€0.1m | -€0.08m | -€0.06m | ▲ 22.6% |
| Financial income75/76B | - | - | - | €0.05m | €0.03m | €1.3m | €0.2m | €0.1m | ▼ 58.9% |
| Recurring financial income75 | €0.3m | €0.08m | €0.08m | €0.05m | €0.03m | €1.3m | €0.2m | €0.1m | ▼ 58.9% |
| Financial charges65/66B | - | - | - | €0.07m | €0.003m | €0.04m | €0.2m | €0.2m | ▲ 0.3% |
| Recurring financial charges65 | €0.1m | €0.007m | €217 | €0.07m | €0.003m | €0.04m | €0.2m | €0.2m | ▲ 0.3% |
| Profit (loss) for the period before taxes9903 | €0.1m | -€0.05m | -€0.02m | -€0.1m | -€0.08m | €1.2m | -€0.002m | -€0.1m | ▼ 5,953% |
| Income taxes67/77 | - | - | - | - | - | €0.2m | €0 | - | - |
| Profit (loss) for the period9904 | €0.1m | -€0.05m | -€0.02m | -€0.1m | -€0.08m | €0.9m | -€0.002m | -€0.1m | ▼ 5,953% |
| Profit (loss) for the period to be appropriated9905 | €0.1m | -€0.05m | -€0.02m | -€0.1m | -€0.08m | €0.9m | -€0.002m | -€0.1m | ▼ 5,953% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €5.8m | €5.7m | €5.7m | €5.6m | €5.1m | €6.2m | €8.4m | €9.3m | ▲ 10.5% |
| Fixed assets21/28 | - | - | - | €3.5m | €4.3m | €4.5m | €6.4m | €7.2m | ▲ 12.9% |
| Financial fixed assets28 | - | - | - | €3.5m | €4.3m | €4.5m | €6.4m | €7.2m | ▲ 12.9% |
| Current assets29/58 | €5.8m | €5.7m | €5.7m | €2.1m | €0.8m | €1.7m | €2.0m | €2.1m | ▲ 3.3% |
| Amounts receivable within one year40/41 | €5.2m | €5.2m | €5.3m | €2.0m | €0.8m | €1.7m | €2.0m | €2.1m | ▲ 3.5% |
| Trade receivables40 | - | - | - | - | - | - | €0.02m | €0.02m | ▲ 4.7% |
| Other amounts receivable41 | - | - | - | €2.0m | €0.8m | €1.7m | €2.0m | €2.1m | ▲ 3.5% |
| Current investments50/53 | €0.4m | €0.4m | €0.3m | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €141 | €214 | €489 | €386 | €446 | €0.003m | €0.008m | €0.005m | ▼ 34.4% |
| Deferred charges and accrued income490/1 | - | - | - | €0.05m | €0 | - | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €5.8m | €5.7m | €5.7m | €5.6m | €5.1m | €6.2m | €8.4m | €9.3m | ▲ 10.5% |
| Equity10/15 | €4.6m | €4.5m | €4.5m | €4.4m | €4.3m | €5.2m | €5.2m | €5.1m | ▼ 2.4% |
| Contributions10/11 | €0.006m | €0.006m | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Reserves13 | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €5.1m | ▲ 273,817% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0 | - | - | - |
| Distributable reserves133 | - | - | - | - | - | €0.002m | €0.002m | €5.1m | ▲ 273,817% |
| Profit (loss) carried forward14 | €4.6m | €4.5m | €4.5m | €4.4m | €4.3m | €5.2m | €5.2m | €0 | ▼ 100% |
| Amounts payable17/49 | €1.2m | €1.2m | €1.2m | €1.2m | €0.8m | €1.0m | €3.2m | €4.2m | ▲ 31.8% |
| Amounts payable after more than one year17 | €1.2m | €1.2m | €1.2m | €1.2m | €0.3m | €0.3m | €2.3m | €2.3m | ▲ 0.7% |
| Financial debts170/4 | - | - | - | - | €0.3m | €0.3m | €2.3m | €2.3m | ▲ 0.7% |
| Other amounts payable178/9 | - | - | - | €1.2m | - | - | - | - | - |
| Amounts payable within one year42/48 | €0.05m | €0.02m | €0.09m | €0.03m | €0.5m | €0.7m | €0.9m | €1.9m | ▲ 116% |
| Trade debts44 | €0.04m | €0.001m | €0.001m | €0.001m | €0.001m | €187 | €0 | €216 | - |
| Suppliers440/4 | - | - | - | €0.001m | €0.001m | €187 | €0 | €216 | - |
| Taxes, remuneration and social security45 | - | - | - | - | €0.002m | €0.2m | €0.2m | €0 | ▼ 100% |
| Taxes450/3 | - | - | - | - | €0.002m | €0.2m | €0.2m | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | €0.03m | €0.5m | €0.5m | €0.6m | €1.9m | ▲ 201% |
| Accrued charges and deferred income492/3 | - | - | - | €449 | €0 | - | €0.03m | €0.02m | ▼ 13.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.1m | -€0.05m | -€0.02m | -€0.1m | -€0.08m | €0.9m | -€0.002m | -€0.1m | ▼ 5,953% |
| Operating cash flow (approximation) | €0.1m | -€0.05m | -€0.02m | -€0.1m | -€0.08m | €0.9m | -€0.002m | -€0.1m | ▼ 5,953% |
| Investment in fixed assets (approximation) | - | - | - | - | -€0.8m | -€0.2m | -€1.9m | -€0.8m | ▲ 55.9% |
| Change in cash | - | €74 | €274 | -€103 | €60 | €0.003m | €0.004m | -€0.003m | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 28 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 09-07-2026 | 2026-00279969 |
| 31-12-2024 | abbreviated format | 25-07-2025 | 2025-00324764 |
| 31-12-2023 | abbreviated format | 25-07-2024 | 2024-00290650 |
| 31-12-2022 | abbreviated format | 28-08-2023 | 2023-00410426 |
| 31-12-2021 | abbreviated format | 29-07-2022 | 2022-20266693 |
| 31-12-2020 | abbreviated format | 24-08-2021 | 2021-52900514 |
| 31-12-2019 | abbreviated format | 08-10-2020 | 2020-60700049 |
| 31-12-2018 | abbreviated format | 29-08-2019 | 2019-62800476 |
| 31-12-2017 | abbreviated format | 30-07-2018 | 2018-40700456 |
| 31-12-2016 | abbreviated format | 31-08-2017 | 2017-59400066 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.