G-BITS
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 05-07-2026 at the NBB all 19 filings
Turnover
≈ €150,000
Estimated: probably between €120,000 and €200,000
Total assets
€129,448▲ 16.9%
2024 · €110,720
Net result
€26,947▲ 10.5%
2024 · €24,389
Working capital
€103,446▲ 20.5%
2024 · €85,843
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€35,511
▼ 2.0%
2025
20182025
Net result
€26,947
▲ 10.5%
2025
middle half of the sector
20182025
Equity
€124,606
▲ 18.4%
2025
middle half of the sector
20182025
Total assets
€129,448
▲ 16.9%
2025
middle half of the sector
20182025
Debt
€4,842
▼ 11.3%
2025
20182025
Working capital
€103,446
▲ 20.5%
2025
middle half of the sector
20182025
Solvency
96.3%
▲ 1.2pp
2025
highest quarter of the sector
20182025
Current ratio
22.36
▲ 5.65
2025
highest quarter of the sector
20182025
Return on assets (ROA)
20.8%
▼ 1.2pp
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€33,160-€12,747▼ 61.6%€21,386▲ 67.8%€11,424▼ 46.6%€21,267▲ 86.2%€24,280▲ 14.2%€36,236▲ 49.2%€35,511▼ 2.0%
Net result€22,139-€7,599▼ 65.7%€14,714within the sector's middle half▲ 93.6%€7,453within the sector's middle half▼ 49.3%€14,543within the sector's middle half▲ 95.1%€16,053within the sector's middle half▲ 10.4%€24,389within the sector's middle half▲ 51.9%€26,947within the sector's middle half▲ 10.5%
Equity€69,552-€75,551▲ 8.6%€72,540within the sector's middle half▼ 4.0%€78,393within the sector's middle half▲ 8.1%€92,936within the sector's middle half▲ 18.6%€103,009within the sector's middle half▲ 10.8%€105,258within the sector's middle half▲ 2.2%€124,606within the sector's middle half▲ 18.4%
Total assets€77,099-€81,363▲ 5.5%€82,135within the sector's middle half▲ 0.9%€86,741within the sector's middle half▲ 5.6%€99,860within the sector's middle half▲ 15.1%€107,929within the sector's middle half▲ 8.1%€110,720within the sector's middle half▲ 2.6%€129,448within the sector's middle half▲ 16.9%
Debt€7,547-€5,811▼ 23.0%€9,595▲ 65.1%€8,348▼ 13.0%€6,924▼ 17.1%€4,920▼ 28.9%€5,462▲ 11.0%€4,842▼ 11.3%
Working capital€62,475-€70,474▲ 12.8%€56,984within the sector's middle half▼ 19.1%€51,088within the sector's middle half▼ 10.3%€72,036within the sector's middle half▲ 41.0%€81,735within the sector's middle half▲ 13.5%€85,843within the sector's middle half▲ 5.0%€103,446within the sector's middle half▲ 20.5%
Solvency90.2%-92.9%▲ 2.6pp88.3%above the sector's middle half▼ 4.5pp90.4%above the sector's middle half▲ 2.1pp93.1%above the sector's middle half▲ 2.7pp95.4%above the sector's middle half▲ 2.4pp95.1%above the sector's middle half▼ 0.4pp96.3%above the sector's middle half▲ 1.2pp
Current ratio9.83-13.51▲ 3.696.94above the sector's middle half▼ 6.587.12above the sector's middle half▲ 0.1811.40above the sector's middle half▲ 4.2817.61above the sector's middle half▲ 6.2116.72above the sector's middle half▼ 0.8922.36above the sector's middle half▲ 5.65
Return on assets (ROA)28.7%-9.3%▼ 19.4pp17.9%within the sector's middle half▲ 8.6pp8.6%within the sector's middle half▼ 9.3pp14.6%within the sector's middle half▲ 6.0pp14.9%within the sector's middle half▲ 0.3pp22.0%within the sector's middle half▲ 7.2pp20.8%within the sector's middle half▼ 1.2pp
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 2% lower than in 2024.
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 €129,448
Fixed assets
€21,160 ▲ 9.0%
Current assets
€108,288 ▲ 18.6%
Equity and liabilities €129,448
Equity
€124,606 ▲ 18.4%
Debt
€4,842 ▼ 11.3%
Debt's share of the balance-sheet total falls from 4.9% to 3.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€41,074▼
2024 · €41,252
Cash flow
€32,509▲
2024 · €29,404
Debt to equity
0.04▼
2024 · 0.05
ROE
21.6%▼
2024 · 23.2%
Interest coverage
53.24▲
2024 · 39.14
Debt ≤ 1 year
€4,842▼
2024 · €5,462
Income taxes
€12,159▲
2024 · €11,300
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 | €15,823 | €7,914 | €5,320 | €3,402 | €7,470 |
| Depreciation and write-downs of the year | €4,074 | €4,186 | €4,936 | €5,016 | €5,562 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €1,815 awarded · €1,815 paidAnnual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €5 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,079 | €5,207 | €2,327 | €4,074 | €4,186 | €4,936 | €5,016 | €5,562 | ▲ 10.9% |
| Other operating charges640/8 | - | - | - | €1,196 | €4,105 | €2,554 | €2,503 | €2,825 | ▲ 12.8% |
| Non-recurring operating charges66A | - | - | - | - | - | €11 | - | - | - |
| Gross operating margin9900 | €42,473 | €21,051 | €24,798 | €16,693 | €29,558 | €31,782 | €43,755 | €43,898 | ▲ 0.3% |
| Operating profit (loss)9901 | €33,160 | €12,747 | €21,386 | €11,424 | €21,267 | €24,280 | €36,236 | €35,511 | ▼ 2.0% |
| Financial income75/76B | - | - | - | €2 | €492 | €457 | €507 | €4,365 | ▲ 762% |
| Recurring financial income75 | €0 | - | €0 | €2 | €492 | €457 | €507 | €4,365 | ▲ 762% |
| Financial charges65/66B | - | - | - | €229 | €537 | €991 | €1,054 | €771 | ▼ 26.8% |
| Recurring financial charges65 | €850 | €711 | €505 | €229 | €537 | €991 | €1,054 | €771 | ▼ 26.8% |
| Profit (loss) for the period before taxes9903 | €32,310 | €12,035 | €20,882 | €11,196 | €21,221 | €23,747 | €35,689 | €39,105 | ▲ 9.6% |
| Income taxes67/77 | €10,171 | €4,436 | €6,167 | €3,743 | €6,678 | €7,695 | €11,300 | €12,159 | ▲ 7.6% |
| Profit (loss) for the period9904 | €22,139 | €7,599 | €14,714 | €7,453 | €14,543 | €16,053 | €24,389 | €26,947 | ▲ 10.5% |
| Profit (loss) for the period to be appropriated9905 | €22,139 | €7,599 | €14,714 | €7,453 | €14,543 | €16,053 | €24,389 | €26,947 | ▲ 10.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €77,099 | €81,363 | €82,135 | €86,741 | €99,860 | €107,929 | €110,720 | €129,448 | ▲ 16.9% |
| Fixed assets21/28 | €7,546 | €5,257 | €15,556 | €27,305 | €20,900 | €21,273 | €19,415 | €21,160 | ▲ 9.0% |
| Tangible fixed assets22/27 | €6,946 | €4,657 | €14,956 | €26,705 | €20,300 | €20,673 | €18,815 | €20,560 | ▲ 9.3% |
| Plant, machinery and equipment23 | - | - | - | €12,354 | €12,118 | €13,456 | €14,189 | €17,111 | ▲ 20.6% |
| Furniture and vehicles24 | - | - | - | €14,351 | €8,183 | €7,217 | €4,626 | €3,448 | ▼ 25.5% |
| Financial fixed assets28 | €600 | €600 | €600 | €600 | €600 | €600 | €600 | €600 | = |
| Current assets29/58 | €69,552 | €76,105 | €66,579 | €59,435 | €78,960 | €86,656 | €91,305 | €108,288 | ▲ 18.6% |
| Amounts receivable within one year40/41 | €39,391 | €38,492 | €18,601 | €19,340 | €19,837 | €12,958 | €17,503 | €17,892 | ▲ 2.2% |
| Trade receivables40 | - | - | - | €15,232 | €15,541 | €12,784 | €17,152 | €17,414 | ▲ 1.5% |
| Other amounts receivable41 | - | - | - | €4,108 | €4,296 | €174 | €352 | €478 | ▲ 36.0% |
| Current investments50/53 | - | - | - | - | €15,000 | €21,000 | €27,000 | €33,000 | ▲ 22.2% |
| Cash at bank and in hand54/58 | €27,223 | €34,470 | €45,165 | €37,165 | €40,466 | €49,821 | €44,378 | €54,959 | ▲ 23.8% |
| Deferred charges and accrued income490/1 | - | - | - | €2,930 | €3,657 | €2,877 | €2,424 | €2,437 | ▲ 0.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €77,099 | €81,363 | €82,135 | €86,741 | €99,860 | €107,929 | €110,720 | €129,448 | ▲ 16.9% |
| Equity10/15 | €69,552 | €75,551 | €72,540 | €78,393 | €92,936 | €103,009 | €105,258 | €124,606 | ▲ 18.4% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €46,105 | €53,704 | €50,693 | €56,546 | €71,089 | €81,162 | €83,411 | €102,759 | ▲ 23.2% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €54,686 | €69,229 | €81,162 | €83,411 | €102,759 | ▲ 23.2% |
| Profit (loss) carried forward14 | €17,247 | €15,647 | €15,647 | €15,647 | €15,647 | €15,647 | €15,647 | €15,647 | = |
| Amounts payable17/49 | €7,547 | €5,811 | €9,595 | €8,348 | €6,924 | €4,920 | €5,462 | €4,842 | ▼ 11.3% |
| Amounts payable within one year42/48 | €7,077 | €5,631 | €9,595 | €8,348 | €6,924 | €4,920 | €5,462 | €4,842 | ▼ 11.3% |
| Trade debts44 | €2,936 | €5,631 | €4,826 | €1,152 | €3,899 | €335 | €1,717 | €3,631 | ▲ 111% |
| Suppliers440/4 | - | - | - | €1,152 | €3,899 | €335 | €1,717 | €3,631 | ▲ 111% |
| Taxes, remuneration and social security45 | - | - | - | €5,595 | €3,024 | €4,586 | €3,634 | €1,211 | ▼ 66.7% |
| Taxes450/3 | - | - | - | €5,595 | €3,024 | €4,586 | €3,634 | €1,211 | ▼ 66.7% |
| Other amounts payable47/48 | - | - | - | €1,600 | - | - | €110 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €22,139 | €7,599 | €14,714 | €7,453 | €14,543 | €16,053 | €24,389 | €26,947 | ▲ 10.5% |
| + Depreciation and write-downs630 | €6,079 | €5,207 | €2,327 | €4,074 | €4,186 | €4,936 | €5,016 | €5,562 | ▲ 10.9% |
| Operating cash flow (approximation) | €28,218 | €12,806 | €17,042 | €11,527 | €18,729 | €20,989 | €29,404 | €32,509 | ▲ 10.6% |
| Investment in fixed assets (approximation) | - | -€2,918 | -€12,626 | -€15,823 | €2,219 | -€5,309 | -€3,158 | -€7,307 | ▼ 131% |
| Change in cash | - | €7,247 | €10,695 | -€8,001 | €3,301 | €9,355 | -€5,443 | €10,581 | - |
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, 31,368 companies had the same profile as G-BITS has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of G-BITS 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 31,368 companies, not a prediction for G-BITS. 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 | micro format | 05-07-2026 | 2026-00252739 | |
| 31-12-2024 | micro format | 18-07-2025 | 2025-00283906 | |
| 31-12-2023 | micro format | 06-06-2024 | 2024-00112503 | |
| 31-12-2022 | micro format | 12-06-2023 | 2023-00119357 | |
| 31-12-2021 | micro format | 18-07-2022 | 2022-20195615 | |
| 31-12-2020 | micro format | 27-07-2021 | 2021-40700368 | |
| 31-12-2019 | micro format | 21-08-2020 | 2020-45800357 | |
| 31-12-2018 | micro format | 22-07-2019 | 2019-35700546 | |
| 31-12-2017 | micro format | 21-06-2018 | 2018-21300409 | |
| 31-12-2016 | micro format | 24-07-2017 | 2017-34900325 |