FOCSA A.K
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 08-06-2026 PDF all 4 filings
Every figure per financial year
The operating result for 2025 is 48% lower than in 2024 and the lowest since 2022. It is the second fall in a row.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | €5,158 | €1,530 | €2,068 |
| Depreciation and write-downs of the year | €145 | €1,431 | €2,023 | €2,721 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €3,384 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €145 | €1,431 | €2,023 | €2,721 | ▲ 34.5% |
| Other operating charges640/8 | - | €199 | €607 | €1,462 | ▲ 141% |
| Gross operating margin9900 | €18,627 | €40,181 | €20,604 | €11,730 | ▼ 43.1% |
| Operating profit (loss)9901 | €18,482 | €38,551 | €14,589 | €7,547 | ▼ 48.3% |
| Financial income75/76B | €2,133 | €2,987 | €4,931 | €4,857 | ▼ 1.5% |
| Recurring financial income75 | €2,133 | €2,987 | €4,931 | €4,857 | ▼ 1.5% |
| Financial charges65/66B | - | €156 | €197 | €105 | ▼ 46.9% |
| Recurring financial charges65 | - | €156 | €197 | €105 | ▼ 46.9% |
| Profit (loss) for the period before taxes9903 | €20,615 | €41,382 | €19,324 | €12,299 | ▼ 36.4% |
| Income taxes67/77 | €3,770 | €10,370 | €4,384 | €3,199 | ▼ 27.0% |
| Profit (loss) for the period9904 | €16,845 | €31,012 | €14,940 | €9,100 | ▼ 39.1% |
| Profit (loss) for the period to be appropriated9905 | €16,845 | €31,012 | €14,940 | €9,100 | ▼ 39.1% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €48,609 | €83,837 | €96,193 | €97,074 | ▲ 0.9% |
| Fixed assets21/28 | €215 | €3,942 | €3,449 | €2,796 | ▼ 18.9% |
| Tangible fixed assets22/27 | €215 | €3,942 | €3,449 | €2,796 | ▼ 18.9% |
| Furniture and vehicles24 | €215 | €3,942 | €3,449 | €2,796 | ▼ 18.9% |
| Current assets29/58 | €48,394 | €79,895 | €92,744 | €94,279 | ▲ 1.7% |
| Amounts receivable within one year40/41 | €47,943 | €75,615 | €86,137 | €92,126 | ▲ 7.0% |
| Trade receivables40 | €2,304 | - | - | - | - |
| Other amounts receivable41 | €45,639 | €75,615 | €86,137 | €92,126 | ▲ 7.0% |
| Cash at bank and in hand54/58 | €451 | €4,065 | €6,017 | €1,339 | ▼ 77.7% |
| Deferred charges and accrued income490/1 | - | €215 | €591 | €814 | ▲ 37.7% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €48,609 | €83,837 | €96,193 | €97,074 | ▲ 0.9% |
| Equity10/15 | €34,595 | €65,607 | €80,547 | €82,504 | ▲ 2.4% |
| Contributions10/11 | €7,500 | €7,500 | €7,500 | €7,500 | = |
| Capital10 | €7,500 | €7,500 | - | - | - |
| Issued capital100 | €7,500 | €7,500 | - | - | - |
| Contributions outside capital11 | - | - | - | €7,500 | - |
| Other1109/19 | - | - | - | €7,500 | - |
| Reserves13 | €750 | €750 | €750 | €750 | = |
| Non-distributable reserves130/1 | €750 | €750 | €750 | €750 | = |
| Legal reserve130 | €750 | €750 | - | - | - |
| Reserves not available under the articles1311 | - | - | €750 | €750 | = |
| Profit (loss) carried forward14 | €26,345 | €57,357 | €72,297 | €74,254 | ▲ 2.7% |
| Amounts payable17/49 | €14,014 | €18,230 | €15,646 | €14,571 | ▼ 6.9% |
| Amounts payable within one year42/48 | €14,014 | €18,230 | €15,646 | €14,571 | ▼ 6.9% |
| Trade debts44 | €4,160 | €4,131 | €962 | - | - |
| Suppliers440/4 | €4,160 | €4,131 | €962 | - | - |
| Taxes, remuneration and social security45 | €7,854 | €14,099 | €14,685 | €9,571 | ▼ 34.8% |
| Taxes450/3 | €7,854 | €14,099 | €14,685 | €9,571 | ▼ 34.8% |
| Other amounts payable47/48 | €2,000 | - | - | €5,000 | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €16,845 | €31,012 | €14,940 | €9,100 | ▼ 39.1% |
| + Depreciation and write-downs630 | €145 | €1,431 | €2,023 | €2,721 | ▲ 34.5% |
| Operating cash flow (approximation) | €16,990 | €32,443 | €16,963 | €11,821 | ▼ 30.3% |
| Investment in fixed assets (approximation) | - | -€5,158 | -€1,530 | -€2,068 | ▼ 35.2% |
| Change in cash | - | €3,614 | €1,952 | -€4,678 | - |
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, 26,972 companies had the same profile as FOCSA A.K has now. Two years later, 94.9% were still going and 1.6% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of FOCSA A.K itself: 1.2% 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 26,972 companies, not a prediction for FOCSA A.K. 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.