FUTURE WORLD
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 02-07-2026 at the NBB all 22 filings
Turnover
≈ €89,000
Estimated: probably between €48,000 and €350,000
Total assets
€117,639▼ 9.6%
2024 · €130,112
Net result
-€1,867
2024 · €7,706
Working capital
€87,401▲ 0.7%
2024 · €86,819
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€874
2025
20182025
Net result
-€1,867
2025
middle half of the sector
20182025
Equity
€87,829
▼ 2.1%
2025
middle half of the sector
20182025
Total assets
€117,639
▼ 9.6%
2025
middle half of the sector
20182025
Debt
€29,810
▼ 26.2%
2025
20182025
Working capital
€87,401
▲ 0.7%
2025
middle half of the sector
20182025
Solvency
74.7%
▲ 5.7pp
2025
highest quarter of the sector
20182025
Current ratio
14.93
▲ 6.45
2025
highest quarter of the sector
20182025
Return on assets (ROA)
-1.6%
▼ 7.5pp
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€6,325-€10,338▲ 63.4%€6,673▼ 35.4%€631▼ 90.5%€4,113▲ 552%€4,328▲ 5.2%€11,562▲ 167%-€874
Net result€1,175-€5,955▲ 407%€5,412within the sector's middle half▼ 9.1%-€309within the sector's middle half€1,798within the sector's middle half€1,812within the sector's middle half▲ 0.8%€7,706within the sector's middle half▲ 325%-€1,867within the sector's middle half
Equity€67,320-€73,275▲ 8.8%€78,688within the sector's middle half▲ 7.4%€78,379within the sector's middle half▼ 0.4%€80,177within the sector's middle half▲ 2.3%€81,989within the sector's middle half▲ 2.3%€89,695within the sector's middle half▲ 9.4%€87,829within the sector's middle half▼ 2.1%
Total assets€126,636-€98,164▼ 22.5%€90,906within the sector's middle half▼ 7.4%€87,970within the sector's middle half▼ 3.2%€94,187within the sector's middle half▲ 7.1%€92,953within the sector's middle half▼ 1.3%€130,112within the sector's middle half▲ 40.0%€117,639within the sector's middle half▼ 9.6%
Debt€59,315-€24,889▼ 58.0%€12,218▼ 50.9%€9,591▼ 21.5%€14,009▲ 46.1%€10,963▼ 21.7%€40,417▲ 269%€29,810▼ 26.2%
Working capital€67,944-€78,327▲ 15.3%€78,628within the sector's middle half▲ 0.4%€77,891within the sector's middle half▼ 0.9%€85,036within the sector's middle half▲ 9.2%€83,163within the sector's middle half▼ 2.2%€86,819within the sector's middle half▲ 4.4%€87,401within the sector's middle half▲ 0.7%
Solvency53.2%-74.6%▲ 21.5pp86.6%above the sector's middle half▲ 11.9pp89.1%above the sector's middle half▲ 2.5pp85.1%above the sector's middle half▼ 4.0pp88.2%above the sector's middle half▲ 3.1pp68.9%within the sector's middle half▼ 19.3pp74.7%above the sector's middle half▲ 5.7pp
Current ratio2.17-5.04▲ 2.877.52above the sector's middle half▲ 2.489.55above the sector's middle half▲ 2.0311.62above the sector's middle half▲ 2.0710.13above the sector's middle half▼ 1.508.47above the sector's middle half▼ 1.6514.93above the sector's middle half▲ 6.45
Return on assets (ROA)0.9%-6.1%▲ 5.1pp6.0%within the sector's middle half▼ 0.1pp-0.4%within the sector's middle half▼ 6.3pp1.9%within the sector's middle half▲ 2.3pp1.9%within the sector's middle half=5.9%within the sector's middle half▲ 4.0pp-1.6%within the sector's middle half▼ 7.5pp
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 loss of €874, after a profit of €11,562 in 2024. It is the lowest result since 2021.
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
Assets €117,639
Fixed assets
€23,962 ▼ 24.4%
Current assets
€93,678 ▼ 4.8%
Equity and liabilities €117,639
Equity
€87,829 ▼ 2.1%
Debt
€29,810 ▼ 26.2%
Debt's share of the balance-sheet total falls from 31.1% to 25.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€6,842▼
2024 · €18,096
Cash flow
€5,849▼
2024 · €14,240
Quick ratio
5.68▲
2024 · 3.63
Debt to equity
0.34▼
2024 · 0.45
ROE
-2.1%▼
2024 · 8.6%
Interest coverage
7.96▼
2024 · 20.66
Debt ≤ 1 year
€6,277▼
2024 · €11,616
Debt > 1 year
€22,084▼
2024 · €27,345
Income taxes
€141▼
2024 · €2,982
Staff costs
€210▼
2024 · €260
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 | €1,247 | €528 | - | €37,536 | - |
| Depreciation and write-downs of the year | €494 | €355 | €470 | €6,534 | €7,716 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €4,132 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €385 | - | €260 | €260 | €210 | ▼ 19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,130 | €249 | €219 | €494 | €355 | €470 | €6,534 | €7,716 | ▲ 18.1% |
| Other operating charges640/8 | - | - | - | €2,156 | €2,182 | €1,994 | €1,428 | €2,131 | ▲ 49.2% |
| Gross operating margin9900 | €12,495 | €12,880 | €9,298 | €3,666 | €6,650 | €7,052 | €19,784 | €9,183 | ▼ 53.6% |
| Operating profit (loss)9901 | €6,325 | €10,338 | €6,673 | €631 | €4,113 | €4,328 | €11,562 | -€874 | - |
| Financial income75/76B | - | - | - | €8 | €0 | €0 | €3 | €8 | ▲ 202% |
| Recurring financial income75 | €23 | €572 | €68 | €8 | €0 | €0 | €3 | €8 | ▲ 202% |
| Financial charges65/66B | - | - | - | €80 | €98 | €98 | €876 | €859 | ▼ 1.9% |
| Recurring financial charges65 | €3,425 | €1,873 | €419 | €80 | €98 | €98 | €876 | €859 | ▼ 1.9% |
| Profit (loss) for the period before taxes9903 | €2,923 | €9,037 | €6,322 | €559 | €4,016 | €4,230 | €10,688 | -€1,726 | - |
| Income taxes67/77 | €1,749 | €3,082 | €910 | €867 | €2,217 | €2,418 | €2,982 | €141 | ▼ 95.3% |
| Profit (loss) for the period9904 | €1,175 | €5,955 | €5,412 | -€309 | €1,798 | €1,812 | €7,706 | -€1,867 | - |
| Profit (loss) for the period to be appropriated9905 | €1,175 | €5,955 | €5,412 | -€309 | €1,798 | €1,812 | €7,706 | -€1,867 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €126,636 | €98,164 | €90,906 | €87,970 | €94,187 | €92,953 | €130,112 | €117,639 | ▼ 9.6% |
| Fixed assets21/28 | €391 | €439 | €219 | €972 | €1,146 | €676 | €31,678 | €23,962 | ▼ 24.4% |
| Tangible fixed assets22/27 | €391 | €439 | €219 | €972 | €1,146 | €676 | €31,678 | €23,962 | ▼ 24.4% |
| Plant, machinery and equipment23 | - | - | - | - | - | €0 | €0 | €0 | - |
| Furniture and vehicles24 | - | - | - | €972 | €1,146 | €676 | €31,678 | €23,962 | ▼ 24.4% |
| Current assets29/58 | €126,245 | €97,725 | €90,686 | €86,997 | €93,041 | €92,277 | €98,435 | €93,678 | ▼ 4.8% |
| Stocks and contracts in progress3 | €67,338 | €60,004 | €62,036 | €61,451 | €56,771 | €57,515 | €56,249 | €58,027 | ▲ 3.2% |
| Stocks30/36 | - | - | - | €61,451 | €56,771 | €57,515 | €56,249 | €58,027 | ▲ 3.2% |
| Amounts receivable within one year40/41 | €29,513 | €16,552 | €12,679 | €7,896 | €21,093 | €18,103 | €13,441 | €17,202 | ▲ 28.0% |
| Trade receivables40 | - | - | - | €3,953 | €7,857 | €8,451 | €4,591 | €3,335 | ▼ 27.4% |
| Other amounts receivable41 | - | - | - | €3,944 | €13,236 | €9,652 | €8,851 | €13,867 | ▲ 56.7% |
| Cash at bank and in hand54/58 | €26,393 | €21,169 | €15,972 | €17,650 | €15,081 | €16,227 | €28,344 | €16,048 | ▼ 43.4% |
| Deferred charges and accrued income490/1 | - | - | - | - | €96 | €431 | €400 | €2,400 | ▲ 500% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €126,636 | €98,164 | €90,906 | €87,970 | €94,187 | €92,953 | €130,112 | €117,639 | ▼ 9.6% |
| Equity10/15 | €67,320 | €73,275 | €78,688 | €78,379 | €80,177 | €81,989 | €89,695 | €87,829 | ▼ 2.1% |
| Contributions10/11 | €6,400 | €6,400 | - | €6,400 | €6,400 | €6,400 | €6,400 | €6,400 | = |
| Reserves13 | €60,920 | €66,875 | €72,288 | €71,979 | €73,777 | €75,589 | €83,295 | €81,429 | ▼ 2.2% |
| Non-distributable reserves130/1 | - | - | - | €2,000 | €2,000 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €2,000 | €2,000 | - | - | - | - |
| Distributable reserves133 | - | - | - | €69,979 | €71,777 | €75,589 | €83,295 | €81,429 | ▼ 2.2% |
| Amounts payable17/49 | €59,315 | €24,889 | €12,218 | €9,591 | €14,009 | €10,963 | €40,417 | €29,810 | ▼ 26.2% |
| Amounts payable after more than one year17 | - | - | - | - | - | - | €27,345 | €22,084 | ▼ 19.2% |
| Financial debts170/4 | - | - | - | - | - | - | €27,345 | €22,084 | ▼ 19.2% |
| Amounts payable within one year42/48 | €58,301 | €19,398 | €12,058 | €9,107 | €8,004 | €9,114 | €11,616 | €6,277 | ▼ 46.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | €5,070 | €5,260 | ▲ 3.7% |
| Financial debts43 | - | - | - | €254 | - | - | - | - | - |
| Other loans439 | - | - | - | €254 | - | - | - | - | - |
| Trade debts44 | €25,906 | €6,845 | €6,524 | €5,762 | €3,095 | €3,349 | €2,655 | €101 | ▼ 96.2% |
| Suppliers440/4 | - | - | - | €5,762 | €3,095 | €3,349 | €2,655 | €101 | ▼ 96.2% |
| Taxes, remuneration and social security45 | - | - | - | €2,859 | €4,265 | €5,455 | €3,759 | €441 | ▼ 88.3% |
| Taxes450/3 | - | - | - | €2,859 | €4,265 | €5,455 | €3,759 | €441 | ▼ 88.3% |
| Other amounts payable47/48 | - | - | - | €232 | €644 | €309 | €131 | €474 | ▲ 263% |
| Accrued charges and deferred income492/3 | - | - | - | €484 | €6,005 | €1,850 | €1,457 | €1,450 | ▼ 0.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,175 | €5,955 | €5,412 | -€309 | €1,798 | €1,812 | €7,706 | -€1,867 | - |
| + Depreciation and write-downs630 | €4,130 | €249 | €219 | €494 | €355 | €470 | €6,534 | €7,716 | ▲ 18.1% |
| Operating cash flow (approximation) | €5,304 | €6,204 | €5,632 | €186 | €2,153 | €2,282 | €14,240 | €5,849 | ▼ 58.9% |
| Investment in fixed assets (approximation) | - | -€297 | €0 | -€1,247 | -€528 | €0 | -€37,536 | €0 | - |
| Change in cash | - | -€5,225 | -€5,197 | €1,678 | -€2,568 | €1,146 | €12,117 | -€12,296 | - |
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, 12,322 companies had the same profile as FUTURE WORLD has now. Two years later, 90.3% were still going and 0.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
90.3%
was still going
8.6%
stopped otherwise
0.7%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of FUTURE WORLD 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 12,322 companies, not a prediction for FUTURE WORLD. 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 22 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 02-07-2026 | 2026-00250457 | |
| 31-12-2024 | micro format | 26-06-2025 | 2025-00219681 | |
| 31-12-2023 | micro format | 05-07-2024 | 2024-00230700 | |
| 31-12-2022 | micro format | 27-06-2023 | 2023-00169093 | |
| 31-12-2021 | micro format | 28-06-2022 | 2022-20119691 | |
| 31-12-2020 | micro format | 16-06-2021 | 2021-21100490 | |
| 31-12-2019 | micro format | 19-08-2020 | 2020-42700077 | |
| 31-12-2018 | micro format | 25-06-2019 | 2019-23300282 | |
| 31-12-2017 | abbreviated format | 23-06-2018 | 2018-21100003 | |
| 31-12-2016 | micro format | 12-07-2017 | 2017-31000437 |