FLUID IT
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 08-05-2026 PDF all 19 filings
Turnover
≈ €180,000
Estimated: probably between €130,000 and €240,000
Total assets
€322,073▲ 3.1%
2024 · €312,452
Net result
€16,488
2024 · -€18,299
Working capital
€51,470▲ 20.8%
2024 · €42,612
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€18,492
2025
20182025
Net result
€16,488
2025
middle half of the sector
20182025
Equity
€177,735
▲ 10.2%
2025
middle half of the sector
20182025
Total assets
€322,073
▲ 3.1%
2025
middle half of the sector
20182025
Debt
€144,338
▼ 4.5%
2025
20182025
Working capital
€51,470
▲ 20.8%
2025
middle half of the sector
20182025
Solvency
55.2%
▲ 3.6pp
2025
middle half of the sector
20182025
Current ratio
1.81
▲ 0.06
2025
middle half of the sector
20182025
Return on assets (ROA)
5.1%
▲ 11.0pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€17,849-€2,086▼ 88.3%€17,265▲ 728%€19,544▲ 13.2%€29,369▲ 50.3%€35,076▲ 19.4%-€16,028€18,492
Net result€12,800--€3,916€11,451within the sector's middle half€11,501within the sector's middle half▲ 0.4%€18,987within the sector's middle half▲ 65.1%€28,330within the sector's middle half▲ 49.2%-€18,299below the sector's middle half€16,488within the sector's middle half
Equity€113,194-€109,278▼ 3.5%€120,729within the sector's middle half▲ 10.5%€132,230within the sector's middle half▲ 9.5%€151,217within the sector's middle half▲ 14.4%€179,547within the sector's middle half▲ 18.7%€161,247within the sector's middle half▼ 10.2%€177,735within the sector's middle half▲ 10.2%
Total assets€390,513-€341,292▼ 12.6%€328,385within the sector's middle half▼ 3.8%€332,780within the sector's middle half▲ 1.3%€331,726within the sector's middle half▼ 0.3%€346,544within the sector's middle half▲ 4.5%€312,452within the sector's middle half▼ 9.8%€322,073within the sector's middle half▲ 3.1%
Debt€277,320-€232,014▼ 16.3%€207,657▼ 10.5%€200,551▼ 3.4%€180,509▼ 10.0%€166,997▼ 7.5%€151,205▼ 9.5%€144,338▼ 4.5%
Working capital€62,029-€24,004▼ 61.3%€39,530within the sector's middle half▲ 64.7%€50,943within the sector's middle half▲ 28.9%€71,571within the sector's middle half▲ 40.5%€50,054within the sector's middle half▼ 30.1%€42,612within the sector's middle half▼ 14.9%€51,470within the sector's middle half▲ 20.8%
Solvency29.0%-32.0%▲ 3.0pp36.8%within the sector's middle half▲ 4.7pp39.7%within the sector's middle half▲ 3.0pp45.6%within the sector's middle half▲ 5.9pp51.8%within the sector's middle half▲ 6.2pp51.6%within the sector's middle half▼ 0.2pp55.2%within the sector's middle half▲ 3.6pp
Current ratio1.58-1.33▼ 0.251.65within the sector's middle half▲ 0.321.76within the sector's middle half▲ 0.122.22within the sector's middle half▲ 0.461.84within the sector's middle half▼ 0.381.75within the sector's middle half▼ 0.091.81within the sector's middle half▲ 0.06
Return on assets (ROA)3.3%--1.1%▼ 4.4pp3.5%within the sector's middle half▲ 4.6pp3.5%within the sector's middle half=5.7%within the sector's middle half▲ 2.3pp8.2%within the sector's middle half▲ 2.5pp-5.9%below the sector's middle half▼ 14.0pp5.1%within the sector's middle half▲ 11.0pp
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). 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 profit of €18,492, after a loss of €16,028 in 2024.
Turnover and EBIT margin are not published. The abbreviated 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
Assets €322,073
Fixed assets
€207,103 ▼ 2.8%
Current assets
€114,970 ▲ 15.6%
Equity and liabilities €322,073
Equity
€177,735 ▲ 10.2%
Debt
€144,338 ▼ 4.5%
Debt's share of the balance-sheet total falls from 48.4% to 44.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€47,553▲
2024 · €11,922
Cash flow
€45,549▲
2024 · €9,651
Debt to equity
0.81▼
2024 · 0.94
ROE
9.3%▲
2024 · -11.3%
Interest coverage
23.25▲
2024 · 5.47
Debt ≤ 1 year
€63,500▲
2024 · €56,877
Debt > 1 year
€79,275▼
2024 · €92,914
Income taxes
€300▼
2024 · €314
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 | €4,888 | €4,478 | €59,058 | €3,831 | €23,201 |
| Depreciation and write-downs of the year | €17,550 | €18,035 | €23,447 | €27,950 | €29,061 |
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 | €20,171 | €23,707 | €24,310 | €17,550 | €18,035 | €23,447 | €27,950 | €29,061 | ▲ 4.0% |
| Other operating charges640/8 | - | - | - | €2,328 | €2,689 | €2,431 | €3,331 | €2,262 | ▼ 32.1% |
| Gross operating margin9900 | €39,232 | €27,769 | €42,986 | €39,421 | €50,093 | €60,954 | €15,254 | €49,815 | ▲ 227% |
| Operating profit (loss)9901 | €17,849 | €2,086 | €17,265 | €19,544 | €29,369 | €35,076 | -€16,028 | €18,492 | - |
| Financial income75/76B | - | - | - | €14 | - | €2,887 | €221 | €340 | ▲ 54.3% |
| Recurring financial income75 | €38 | €129 | €88 | €14 | - | €2,887 | €221 | €340 | ▲ 54.3% |
| Financial charges65/66B | - | - | - | €4,264 | €3,988 | €2,313 | €2,179 | €2,045 | ▼ 6.1% |
| Recurring financial charges65 | €4,788 | €5,849 | €4,577 | €4,264 | €3,988 | €2,313 | €2,179 | €2,045 | ▼ 6.1% |
| Profit (loss) for the period before taxes9903 | €13,099 | -€3,633 | €12,776 | €15,294 | €25,381 | €35,650 | -€17,985 | €16,787 | - |
| Income taxes67/77 | €299 | €282 | €1,325 | €3,793 | €6,394 | €7,320 | €314 | €300 | ▼ 4.6% |
| Profit (loss) for the period9904 | €12,800 | -€3,916 | €11,451 | €11,501 | €18,987 | €28,330 | -€18,299 | €16,488 | - |
| Profit (loss) for the period to be appropriated9905 | €12,800 | -€3,916 | €11,451 | €11,501 | €18,987 | €28,330 | -€18,299 | €16,488 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €390,513 | €341,292 | €328,385 | €332,780 | €331,726 | €346,544 | €312,452 | €322,073 | ▲ 3.1% |
| Fixed assets21/28 | €221,248 | €244,450 | €227,689 | €215,028 | €201,471 | €237,082 | €212,963 | €207,103 | ▼ 2.8% |
| Tangible fixed assets22/27 | €221,248 | €244,450 | €227,689 | €215,028 | €201,471 | €237,082 | €212,963 | €207,103 | ▼ 2.8% |
| Land and buildings22 | - | - | - | €202,800 | €193,757 | €180,111 | €166,465 | €152,819 | ▼ 8.2% |
| Furniture and vehicles24 | - | - | - | €7,765 | €3,928 | €53,861 | €43,914 | €30,809 | ▼ 29.8% |
| Other tangible fixed assets26 | - | - | - | €4,463 | €3,786 | €3,110 | €2,583 | €23,474 | ▲ 809% |
| Current assets29/58 | €169,265 | €96,842 | €100,696 | €117,753 | €130,255 | €109,462 | €99,490 | €114,970 | ▲ 15.6% |
| Amounts receivable within one year40/41 | €15,181 | €15,960 | €32,277 | €46,900 | €50,335 | €14,140 | €44,020 | €49,828 | ▲ 13.2% |
| Trade receivables40 | - | - | - | €46,900 | €50,335 | €14,140 | €44,020 | €49,828 | ▲ 13.2% |
| Current investments50/53 | €128,232 | €55,323 | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €25,391 | €22,355 | €65,209 | €70,374 | €79,414 | €94,529 | €54,628 | €64,281 | ▲ 17.7% |
| Deferred charges and accrued income490/1 | - | - | - | €479 | €506 | €794 | €842 | €861 | ▲ 2.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €390,513 | €341,292 | €328,385 | €332,780 | €331,726 | €346,544 | €312,452 | €322,073 | ▲ 3.1% |
| Equity10/15 | €113,194 | €109,278 | €120,729 | €132,230 | €151,217 | €179,547 | €161,247 | €177,735 | ▲ 10.2% |
| Contributions10/11 | €18,780 | €18,780 | - | €18,780 | €18,780 | €31,773 | €31,773 | €31,773 | = |
| Reserves13 | €77,626 | €77,626 | €77,626 | €77,626 | €77,626 | €64,633 | €147,774 | €147,774 | = |
| Non-distributable reserves130/1 | - | - | - | €12,993 | €12,993 | - | €19,251 | - | - |
| Reserves not available under the articles1311 | - | - | - | €12,993 | €12,993 | - | €19,251 | - | - |
| Distributable reserves133 | - | - | - | €64,633 | €64,633 | €64,633 | €128,522 | €147,774 | ▲ 15.0% |
| Profit (loss) carried forward14 | €16,787 | €12,872 | €24,323 | €35,823 | €54,810 | €83,141 | -€18,299 | -€1,812 | ▲ 90.1% |
| Amounts payable17/49 | €277,320 | €232,014 | €207,657 | €200,551 | €180,509 | €166,997 | €151,205 | €144,338 | ▼ 4.5% |
| Amounts payable after more than one year17 | €170,084 | €157,759 | €145,224 | €132,476 | €119,511 | €106,325 | €92,914 | €79,275 | ▼ 14.7% |
| Financial debts170/4 | - | - | - | €132,476 | €119,511 | €106,325 | €92,914 | €79,275 | ▼ 14.7% |
| Amounts payable within one year42/48 | €107,236 | €72,839 | €61,166 | €66,809 | €58,684 | €59,408 | €56,877 | €63,500 | ▲ 11.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €12,748 | €12,965 | €13,186 | €13,411 | €13,639 | ▲ 1.7% |
| Trade debts44 | €627 | €5,558 | €695 | €1,030 | €1,302 | €522 | €580 | €955 | ▲ 64.7% |
| Suppliers440/4 | - | - | - | €1,030 | €1,302 | €522 | €580 | €955 | ▲ 64.7% |
| Taxes, remuneration and social security45 | - | - | - | €13,793 | €21,273 | €21,189 | €9,751 | €11,051 | ▲ 13.3% |
| Taxes450/3 | - | - | - | €13,793 | €21,273 | €17,189 | €9,751 | €11,051 | ▲ 13.3% |
| Remuneration and social security454/9 | - | - | - | - | - | €4,000 | - | - | - |
| Other amounts payable47/48 | - | - | - | €39,238 | €23,144 | €24,511 | €33,135 | €37,855 | ▲ 14.2% |
| Accrued charges and deferred income492/3 | - | - | - | €1,266 | €2,315 | €1,264 | €1,414 | €1,563 | ▲ 10.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €12,800 | -€3,916 | €11,451 | €11,501 | €18,987 | €28,330 | -€18,299 | €16,488 | - |
| + Depreciation and write-downs630 | €20,171 | €23,707 | €24,310 | €17,550 | €18,035 | €23,447 | €27,950 | €29,061 | ▲ 4.0% |
| Operating cash flow (approximation) | €32,971 | €19,792 | €35,761 | €29,051 | €37,022 | €51,777 | €9,651 | €45,549 | ▲ 372% |
| Investment in fixed assets (approximation) | - | -€46,909 | -€7,550 | -€4,888 | -€4,478 | -€59,058 | -€3,831 | -€23,201 | ▼ 506% |
| Change in cash | - | -€3,037 | €42,854 | €5,166 | €9,039 | €15,115 | -€39,901 | €9,653 | - |
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, 34,693 companies had the same profile as FLUID IT has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of FLUID IT 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 34,693 companies, not a prediction for FLUID IT. 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 19 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 08-05-2026 | 2026-00105957 | |
| 31-12-2024 | abbreviated format | 10-06-2025 | 2025-00127585 | |
| 31-12-2023 | abbreviated format | 22-05-2024 | 2024-00092235 | |
| 31-12-2022 | abbreviated format | 04-07-2023 | 2023-00196645 | |
| 31-12-2021 | abbreviated format | 15-06-2022 | 2022-20063924 | |
| 31-12-2020 | abbreviated format | 29-06-2021 | 2021-25900593 | |
| 31-12-2019 | abbreviated format | 19-06-2020 | 2020-18000533 | |
| 31-12-2018 | abbreviated format | 28-05-2019 | 2019-14500385 | |
| 31-12-2017 | abbreviated format | 19-06-2018 | 2018-19400448 | |
| 31-12-2016 | abbreviated format | 30-05-2017 | 2017-13400238 |