Fyrkat
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 06-01-2026 PDF all 5 filings
Turnover
≈ €90,000
Estimated: probably between €56,000 and €120,000
Total assets
€62,706▼ 43.6%
2024 · €111,151
Net result
€20,528▼ 31.3%
2024 · €29,872
Working capital
-€2,791▲ 68.2%
2024 · -€8,775
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€32,960
▼ 24.0%
2025
20212025
Net result
€20,528
▼ 31.3%
2025
middle half of the sector
20212025
Equity
€500
=
2025
lowest quarter of the sector
20212025
Total assets
€62,706
▼ 43.6%
2025
lowest quarter of the sector
20212025
Debt
€62,206
▼ 43.8%
2025
20212025
Working capital
-€2,791
▲ 68.2%
2025
middle half of the sector
20212025
Solvency
0.8%
▲ 0.3pp
2025
lowest quarter of the sector
20212025
Current ratio
0.95
▲ 0.03
2025
middle half of the sector
20212025
Return on assets (ROA)
32.7%
▲ 5.9pp
2025
highest quarter of the sector
20212025
Staff (FTE)
0
2025
middle half of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result€24,702-€25,000▲ 1.2%€21,934▼ 12.3%€43,342▲ 97.6%€32,960▼ 24.0%
Net result€18,796within the sector's middle half-€18,110within the sector's middle half▼ 3.7%€13,604within the sector's middle half▼ 24.9%€29,872within the sector's middle half▲ 120%€20,528within the sector's middle half▼ 31.3%
Equity€19,296below the sector's middle half-€37,406below the sector's middle half▲ 93.8%€51,010below the sector's middle half▲ 36.4%€500below the sector's middle half▼ 99.0%€500below the sector's middle half=
Total assets€43,765below the sector's middle half-€68,762below the sector's middle half▲ 57.1%€85,702below the sector's middle half▲ 24.6%€111,151below the sector's middle half▲ 29.7%€62,706below the sector's middle half▼ 43.6%
Debt€24,468-€31,356▲ 28.1%€34,692▲ 10.6%€110,651▲ 219%€62,206▼ 43.8%
Working capital€4,145within the sector's middle half-€18,630within the sector's middle half▲ 350%€37,743within the sector's middle half▲ 103%-€8,775within the sector's middle half-€2,791within the sector's middle half▲ 68.2%
Solvency44.1%within the sector's middle half-54.4%within the sector's middle half▲ 10.3pp59.5%within the sector's middle half▲ 5.1pp0.4%below the sector's middle half▼ 59.1pp0.8%below the sector's middle half▲ 0.3pp
Current ratio1.18within the sector's middle half-1.72within the sector's middle half▲ 0.542.24within the sector's middle half▲ 0.520.92within the sector's middle half▼ 1.320.95within the sector's middle half▲ 0.03
Return on assets (ROA)42.9%above the sector's middle half-26.3%above the sector's middle half▼ 16.6pp15.9%above the sector's middle half▼ 10.5pp26.9%above the sector's middle half▲ 11.0pp32.7%above the sector's middle half▲ 5.9pp
Staff (FTE)0within the sector's middle half
above
within
below
The sector band is the middle half of the companies in Office administrative, office support and other business support activities (NACE 82). 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 24% lower than 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 €62,706
Fixed assets
€5,776 ▼ 51.5%
Current assets
€56,929 ▼ 42.6%
Equity and liabilities €62,706
Equity
€500 =
Debt
€62,206 ▼ 43.8%
Debt's share of the balance-sheet total falls from 99.6% to 99.2%. Debt is lower.
Key figures and ratios
EBITDA
€34,667▼
2024 · €48,871
Cash flow
€22,235▼
2024 · €35,402
Interest coverage
6.09▼
2024 · 10.96
Debt ≤ 1 year
€59,720▼
2024 · €108,013
Income taxes
€7,471▼
2024 · €9,012
The equity ratios are withheld because equity of €500 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €12,140 | - | - | €52,027 |
| Depreciation and write-downs of the year | €4,550 | €5,530 | €5,530 | €1,708 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €0 | - | - | €4,989 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,057 | €4,550 | €5,530 | €5,530 | €1,708 | ▼ 69.1% |
| Other operating charges640/8 | - | €1,191 | €1,123 | €1,465 | €656 | ▼ 55.2% |
| Non-recurring operating charges66A | - | - | - | - | €1,056 | - |
| Gross operating margin9900 | €26,421 | €30,740 | €28,586 | €50,337 | €36,379 | ▼ 27.7% |
| Operating profit (loss)9901 | €24,702 | €25,000 | €21,934 | €43,342 | €32,960 | ▼ 24.0% |
| Financial income75/76B | - | €6 | €0 | €0 | €730 | ▲ 1,587× |
| Recurring financial income75 | - | €6 | €0 | €0 | €730 | ▲ 1,587× |
| Financial charges65/66B | - | €1,232 | €3,562 | €4,458 | €5,690 | ▲ 27.6% |
| Recurring financial charges65 | €609 | €1,232 | €3,562 | €4,458 | €5,690 | ▲ 27.6% |
| Profit (loss) for the period before taxes9903 | €24,093 | €23,774 | €18,372 | €38,884 | €27,999 | ▼ 28.0% |
| Income taxes67/77 | €5,297 | €5,664 | €4,768 | €9,012 | €7,471 | ▼ 17.1% |
| Profit (loss) for the period9904 | €18,796 | €18,110 | €13,604 | €29,872 | €20,528 | ▼ 31.3% |
| Profit (loss) for the period to be appropriated9905 | €18,796 | €18,110 | €13,604 | €29,872 | €20,528 | ▼ 31.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €43,765 | €68,762 | €85,702 | €111,151 | €62,706 | ▼ 43.6% |
| Fixed assets21/28 | €16,652 | €24,242 | €17,442 | €11,912 | €5,776 | ▼ 51.5% |
| Tangible fixed assets22/27 | €16,652 | €24,242 | €17,442 | €11,912 | €5,776 | ▼ 51.5% |
| Plant, machinery and equipment23 | - | €2,067 | €1,766 | €1,465 | €3,449 | ▲ 135% |
| Furniture and vehicles24 | - | €22,175 | €15,676 | €10,447 | €2,327 | ▼ 77.7% |
| Current assets29/58 | €27,113 | €44,520 | €68,260 | €99,238 | €56,929 | ▼ 42.6% |
| Amounts receivable within one year40/41 | €510 | €2 | €17,464 | €15,098 | €19,047 | ▲ 26.2% |
| Trade receivables40 | - | - | €17,464 | €15,000 | €18,519 | ▲ 23.5% |
| Other amounts receivable41 | - | €2 | €0 | €98 | €529 | ▲ 437% |
| Cash at bank and in hand54/58 | €23,309 | €40,476 | €46,591 | €81,099 | €32,886 | ▼ 59.4% |
| Deferred charges and accrued income490/1 | - | €4,042 | €4,205 | €3,041 | €4,996 | ▲ 64.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €43,765 | €68,762 | €85,702 | €111,151 | €62,706 | ▼ 43.6% |
| Equity10/15 | €19,296 | €37,406 | €51,010 | €500 | €500 | = |
| Contributions10/11 | - | €500 | €500 | €500 | €500 | = |
| Reserves13 | €18,796 | €36,906 | €50,510 | €0 | - | - |
| Distributable reserves133 | - | €36,906 | €50,510 | €0 | - | - |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | - |
| Amounts payable17/49 | €24,468 | €31,356 | €34,692 | €110,651 | €62,206 | ▼ 43.8% |
| Amounts payable after more than one year17 | - | €3,966 | €1,721 | €0 | - | - |
| Financial debts170/4 | - | €3,966 | €1,721 | €0 | - | - |
| Amounts payable within one year42/48 | €22,968 | €25,890 | €30,518 | €108,013 | €59,720 | ▼ 44.7% |
| Current portion of amounts payable after more than one year42 | - | €2,190 | €2,245 | €1,721 | €0 | ▼ 100% |
| Trade debts44 | €5,445 | €3,425 | €6,393 | €4,011 | €22,378 | ▲ 458% |
| Suppliers440/4 | - | €3,425 | €6,393 | €4,011 | €22,378 | ▲ 458% |
| Taxes, remuneration and social security45 | - | €14,282 | €13,668 | €14,551 | €8,973 | ▼ 38.3% |
| Taxes450/3 | - | €14,282 | €13,668 | €14,551 | €8,973 | ▼ 38.3% |
| Remuneration and social security454/9 | - | €0 | - | - | - | - |
| Other amounts payable47/48 | - | €5,994 | €8,211 | €87,730 | €28,370 | ▼ 67.7% |
| Accrued charges and deferred income492/3 | - | €1,500 | €2,453 | €2,637 | €2,486 | ▼ 5.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,796 | €18,110 | €13,604 | €29,872 | €20,528 | ▼ 31.3% |
| + Depreciation and write-downs630 | €1,057 | €4,550 | €5,530 | €5,530 | €1,708 | ▼ 69.1% |
| Operating cash flow (approximation) | €19,854 | €22,659 | €19,134 | €35,402 | €22,235 | ▼ 37.2% |
| Investment in fixed assets (approximation) | - | -€12,140 | €1,270 | €0 | €4,428 | - |
| Change in cash | - | €17,167 | €6,115 | €34,508 | -€48,213 | - |
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, 2,153 companies had the same profile as Fyrkat has now. Two years later, 96.1% were still going and 1.7% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
96.1%
was still going
2.2%
stopped otherwise
1.7%
went bankrupt
The bankruptcy probability of Fyrkat itself is lower: 0.2% within 12 months. It rests on far more data about Fyrkat than the profile alone.
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 2,153 companies, not a prediction for Fyrkat. 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.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 06-01-2026 | 2026-00001802 | |
| 30-09-2024 | abbreviated format | 03-01-2025 | 2025-00629445 | |
| 30-09-2023 | abbreviated format | 02-04-2024 | 2024-00056734 | |
| 30-09-2022 | abbreviated format | 05-04-2023 | 2023-00056066 | |
| 30-09-2021 | abbreviated format | 25-03-2022 | 2022-08900045 |