GALACTIC
ActiveFinancials · financial year 2026, full format
Annual accounts 2026 filed on 18-08-2026 at the NBB all 49 filings
Turnover
€50.2m▼ 9.0%
2025 · €55.1m
EBIT margin
-4.4%▼ 3.2pp
2025 · -1.2%
Net result
-€1.7m
2025 · €394,400
Working capital
€9.1m▼ 35.7%
2025 · €14.1m
In the rankings
#1 employer in Celles#1 company by total assets in Celles#1 company by equity in Celles
Multi-year overview
2019 to 2026, 8 financial yearsTurnover
€50.2m
▼ 9.0%
2026
20192026
Operating result
-€2.2m
▼ 224%
2026
20192026
Net result
-€1.7m
2026
20192026
EBIT margin
-4.4%
▼ 3.2pp
2026
20192026
Equity
€22.0m
▼ 6.1%
2026
20192026
Total assets
€48.6m
▼ 1.1%
2026
20192026
Debt
€26.6m
▲ 5.9%
2026
20192026
Working capital
€9.1m
▼ 35.7%
2026
20192026
Solvency
45.2%
▼ 2.4pp
2026
20192026
Current ratio
1.41
▼ 0.33
2026
20192026
Return on assets (ROA)
-3.4%
▼ 4.2pp
2026
20192026
Staff (FTE)
138
▼ 3.7%
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Turnover€37.5m-€41.1m▲ 9.7%€45.9m▲ 11.7%€51.9m▲ 12.9%€65.1m▲ 25.5%€49.1m▼ 24.6%€55.1m▲ 12.3%€50.2m▼ 9.0%
Operating result€0.6m--€0.9m€1.9m€5.4m▲ 180%€6.7m▲ 24.6%-€3.2m-€0.7m▲ 78.9%-€2.2m▼ 224%
Net result€4.9m-€1.7m▼ 65.7%€4.5mabove the sector's middle half▲ 168%€6.5mabove the sector's middle half▲ 45.1%€7.3mabove the sector's middle half▲ 12.8%-€2.2mbelow the sector's middle half€0.4mwithin the sector's middle half-€1.7m
EBIT margin1.6%--2.1%▼ 3.7pp4.2%▲ 6.3pp10.4%▲ 6.2pp10.3%▼ 0.1pp-6.6%▼ 17.0pp-1.2%▲ 5.4pp-4.4%▼ 3.2pp
Equity€21.0m-€22.6m▲ 7.6%€25.6mwithin the sector's middle half▲ 13.4%€30.7mwithin the sector's middle half▲ 19.8%€36.6mabove the sector's middle half▲ 19.4%€23.0mwithin the sector's middle half▼ 37.1%€23.4mwithin the sector's middle half▲ 1.7%€22.0m▼ 6.1%
Total assets€49.2m-€53.8m▲ 9.4%€48.4mwithin the sector's middle half▼ 10.1%€57.7mwithin the sector's middle half▲ 19.2%€67.3mwithin the sector's middle half▲ 16.7%€44.7mwithin the sector's middle half▼ 33.6%€49.1mwithin the sector's middle half▲ 10.0%€48.6m▼ 1.1%
Debt€28.1m-€31.1m▲ 10.7%€22.7m▼ 26.9%€26.9m▲ 18.2%€30.5m▲ 13.3%€21.2m▼ 30.3%€25.1m▲ 18.3%€26.6m▲ 5.9%
Working capital€0.3m-€1.1m▲ 247%€5.0mwithin the sector's middle half▲ 354%€10.4mwithin the sector's middle half▲ 107%€14.3mabove the sector's middle half▲ 37.2%€13.0mwithin the sector's middle half▼ 8.7%€14.1mabove the sector's middle half▲ 8.3%€9.1m▼ 35.7%
Solvency42.6%-41.9%▼ 0.7pp52.9%within the sector's middle half▲ 11.0pp53.2%within the sector's middle half▲ 0.3pp54.4%within the sector's middle half▲ 1.2pp51.5%within the sector's middle half▼ 2.9pp47.6%within the sector's middle half▼ 3.9pp45.2%▼ 2.4pp
Current ratio1.02-1.05▲ 0.031.31within the sector's middle half▲ 0.261.50within the sector's middle half▲ 0.191.55within the sector's middle half▲ 0.051.80within the sector's middle half▲ 0.251.74within the sector's middle half▼ 0.061.41▼ 0.33
Return on assets (ROA)9.9%-3.1%▼ 6.8pp9.3%within the sector's middle half▲ 6.2pp11.3%above the sector's middle half▲ 2.0pp10.9%above the sector's middle half▼ 0.4pp-5.0%below the sector's middle half▼ 15.9pp0.8%within the sector's middle half▲ 5.8pp-3.4%▼ 4.2pp
Staff (FTE)119.6-113.3▼ 5.3%115.4within the sector's middle half▲ 1.9%125.1within the sector's middle half▲ 8.4%130.9within the sector's middle half▲ 4.6%137.9within the sector's middle half▲ 5.3%143.3above the sector's middle half▲ 3.9%138▼ 3.7%
above
within
below
The sector band is the middle half of the companies in Manufacture of chemicals and chemical products (NACE 20). 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 2026 is a loss of €2.2m, larger than the loss of €686,019 in 2025.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €48.6m
Fixed assets
€17.6m ▲ 9.7%
Current assets
€31.0m ▼ 6.4%
Equity and liabilities €48.6m
Equity
€22.0m ▼ 6.1%
Provisions
€0 ▼ 100%
Debt
€26.6m ▲ 5.9%
Debt's share of the balance-sheet total rises from 51.2% to 54.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€832,682▼
2025 · €661,759
Cash flow
-€281,356▼
2025 · €1.7m
Quick ratio
0.47▼
2025 · 0.70
Debt to equity
1.21▲
2025 · 1.07
ROE
-7.6%▼
2025 · 1.7%
Interest coverage
-1.43▼
2025 · 1.15
Debt ≤ 1 year
€21.9m▲
2025 · €19.0m
Debt > 1 year
€3.9m▼
2025 · €4.2m
Income taxes
€113,057▲
2025 · €41,274
Customer credit
64 days▼
2025 · 76 days
Supplier credit
97 days▲
2025 · 72 days
Staff costs
€12.2m▲
2025 · €11.8m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 131 | 139 | 146 | 146 | 142 |
| full-time | 117 | 118 | 124 | 116 | 118 |
| part-time | 14 | 21 | 22 | 30 | 24 |
| in full-time equivalents | 128.3 | 133.7 | 140.7 | 139.2 | 136.8 |
| Average over the year, in full-time equivalents | 125.1 | 130.9 | 137.9 | 143.3 | 138 |
| On a permanent contract | 125 | 130 | 135 | 139 | 132 |
| Joined | 18 | 26 | 23 | 22 | 20 |
| Left | 13 | 18 | 16 | 22 | 23 |
| Agency workers, average number | 9.8 | 13.2 | 7.7 | 6.8 | 6.5 |
| Training hours | 3,525 | 1,220 | 452 | 1,673 | 2,104 |
Source: social balance sheet in the 2022 to 2026 annual accounts
Securities and guarantees
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €2.9m | €3.7m | €3.8m | €4.9m | €5.2m |
| Mortgages, amount registered | €5.0m | €5.0m | €5.0m | €5.0m | - |
| Mortgage mandates | - | - | - | - | €5.0m |
| Carrying value of the mortgaged assets | €982,489 | €1.0m | €1.1m | €1.1m | €1.1m |
| Pledge on the business | €13.2m | €13.2m | €19.8m | €19.8m | €19.8m |
Source: notes to the 2022 to 2026 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1.6m | €2.2m | €1.2m | €1.9m | €2.8m |
| Intangible fixed assets | - | - | - | €2,349 | €9,810 |
| Financial fixed assets | - | €98,622 | - | €50,000 | €189,000 |
| Depreciation and write-downs of the year | €2.1m | €1.7m | €1.4m | €1.3m | €1.4m |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Auditor
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Fee for the audit | €29,417 | €39,045 | €33,236 | €34,566 | €38,242 |
| Other work by the auditor | - | - | - | - | €3,500 |
| Work by persons linked to the auditor | - | - | - | €1,041 | €3,265 |
Source: notes to the 2022 to 2026 annual accounts (relations with the auditor)
Subsidies and aid
European Union, budget
2025 · 1 entry · €591,391 in totalProjects
SOLRESS - INNOVATIVE BIOTECH ROUTES FOR EFFICIENT BIO-BASED SOLVENT PRODUCTION PROMOTING A SAFE AND SUSTAINABLE EUROPEAN INDUSTRY.
European research
2 projects · €591,394 EU contributionProgrammes
Projects
Innovative biotech routes for efficient bio-based solvent production promoting a safe and sustainable European industry.
iFERMENTER - CONVERSION OF FORESTRY SUGAR RESIDUAL STREAMS TO ANTIMICROBIAL PROTEINS BY INTELLIGENT FERMENTATION
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | €42.6m | - | €54.7m | €70.8m | €47.9m | €59.7m | €54.0m | ▼ 9.5% |
| Turnover70 | €37.5m | €41.1m | €45.9m | €51.9m | €65.1m | €49.1m | €55.1m | €50.2m | ▼ 9.0% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | -€0.01m | - | €0.9m | €3.9m | -€3.0m | €2.9m | €1.5m | ▼ 47.1% |
| Own construction capitalised72 | - | €0.004m | - | €0.01m | €0.007m | €0.007m | €0.02m | €0.02m | ▲ 28.3% |
| Other operating income74 | - | €1.3m | - | €1.8m | €1.7m | €1.7m | €1.6m | €2.3m | ▲ 40.7% |
| Non-recurring operating income76A | - | €0.1m | - | - | - | €0.02m | €0.01m | €0.01m | ▼ 12.0% |
| Operating charges60/66A | - | €43.5m | - | €49.3m | €64.0m | €51.1m | €60.4m | €56.2m | ▼ 6.9% |
| Goods for resale, raw materials and consumables60 | - | €22.4m | - | €25.0m | €34.6m | €24.2m | €30.0m | €26.4m | ▼ 12.0% |
| Purchases600/8 | - | - | - | €30.4m | €38.3m | €20.0m | €30.2m | €25.6m | ▼ 15.2% |
| Change in stocks: decrease (increase)609 | - | €0.09m | - | -€5.4m | -€3.7m | €4.2m | -€0.3m | €0.7m | - |
| Services and other goods61 | - | €10.5m | - | €12.9m | €17.4m | €13.5m | €16.5m | €16.3m | ▼ 1.1% |
| Remuneration, social security and pensions62 | - | €7.1m | - | €8.9m | €9.7m | €11.1m | €11.8m | €12.2m | ▲ 3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3.3m | €3.1m | €2.8m | €2.1m | €1.7m | €1.4m | €1.3m | €1.4m | ▲ 3.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | -€0.003m | - | - | - | -€0.02m | - | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | €0.06m | €0.08m | €0.2m | €0.2m | -€0.6m | - |
| Other operating charges640/8 | - | €0.5m | - | €0.3m | €0.5m | €0.6m | €0.6m | €0.6m | ▼ 3.0% |
| Non-recurring operating charges66A | - | - | - | - | €0.02m | €0.04m | €0.02m | - | - |
| Operating profit (loss)9901 | €0.6m | -€0.9m | €1.9m | €5.4m | €6.7m | -€3.2m | -€0.7m | -€2.2m | ▼ 224% |
| Financial income75/76B | - | - | - | €2.1m | €3.5m | €2.4m | €2.4m | €2.2m | ▼ 10.9% |
| Recurring financial income75 | €1.4m | €2.5m | €1.9m | €2.1m | €3.5m | €2.4m | €2.4m | €2.2m | ▼ 10.9% |
| Income from financial fixed assets750 | - | €2.0m | - | €1.5m | €2.4m | €1.9m | €1.9m | €2.0m | ▲ 3.7% |
| Income from current assets751 | - | €0.08m | - | €0.02m | €0.08m | €0.3m | €0.02m | €0.007m | ▼ 73.1% |
| Other financial income752/9 | - | €0.4m | - | €0.5m | €1.0m | €0.2m | €0.5m | €0.2m | ▼ 65.0% |
| Non-recurring financial income76B | - | €0.9m | - | - | €0.01m | €0.001m | €0 | - | - |
| Financial charges65/66B | - | €0.7m | - | €0.5m | €1.2m | €1.1m | €1.3m | €1.5m | ▲ 15.1% |
| Recurring financial charges65 | €0.7m | €0.7m | €1.1m | €0.5m | €1.2m | €1.1m | €1.3m | €1.4m | ▲ 11.2% |
| Debt charges650 | €0.4m | €0.5m | €0.3m | €0.2m | €0.3m | €0.7m | €0.6m | €0.6m | ▲ 1.5% |
| Other financial charges652/9 | - | €0.3m | - | €0.3m | €0.9m | €0.4m | €0.7m | €0.9m | ▲ 19.0% |
| Non-recurring financial charges66B | - | €101 | - | €0.001m | €0.003m | - | - | €0.05m | - |
| Profit (loss) for the period before taxes9903 | €4.9m | €1.7m | €4.6m | €7.0m | €9.0m | -€2.0m | €0.4m | -€1.6m | - |
| Income taxes67/77 | - | €0.07m | €0.1m | €0.5m | €1.6m | €0.2m | €0.04m | €0.1m | ▲ 174% |
| Taxes670/3 | - | €0.07m | - | €0.5m | €1.7m | €0.2m | €0.1m | €0.1m | ▲ 9.5% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | - | €0.08m | - | €0.06m | - | - |
| Profit (loss) for the period9904 | €4.9m | €1.7m | €4.5m | €6.5m | €7.3m | -€2.2m | €0.4m | -€1.7m | - |
| Transfer from tax-exempt reserves789 | - | - | - | - | €0.02m | - | - | €0.7m | - |
| Transfer to tax-exempt reserves689 | - | - | - | - | €1.0m | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €4.9m | €1.7m | €5.2m | €6.5m | €6.4m | -€2.2m | €0.4m | -€1.0m | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €49.2m | €53.8m | €48.4m | €57.7m | €67.3m | €44.7m | €49.1m | €48.6m | ▼ 1.1% |
| Fixed assets21/28 | €29.8m | €30.5m | €27.0m | €26.5m | €27.0m | €15.4m | €16.0m | €17.6m | ▲ 9.7% |
| Intangible fixed assets21 | €0.07m | €0.03m | €0.009m | €0.004m | €0.001m | €0.02m | €0.02m | €0.04m | ▲ 72.2% |
| Tangible fixed assets22/27 | €11.4m | €9.0m | €7.5m | €7.0m | €7.4m | €7.2m | €7.7m | €9.1m | ▲ 18.1% |
| Land and buildings22 | - | €1.1m | - | €1.0m | €1.0m | €1.1m | €1.1m | €1.1m | ▼ 0.7% |
| Plant, machinery and equipment23 | - | €6.9m | - | €5.1m | €4.1m | €5.1m | €4.7m | €6.6m | ▲ 41.5% |
| Furniture and vehicles24 | - | €0.07m | - | €0.1m | €0.2m | €0.3m | €0.3m | €0.3m | ▼ 13.3% |
| Leasing and similar rights25 | - | €0.8m | - | €0.1m | €0.06m | €0.04m | €0.03m | €0.05m | ▲ 94.9% |
| Other tangible fixed assets26 | - | €0.05m | - | €0.06m | €0.08m | €0.4m | €0.5m | €0.8m | ▲ 81.0% |
| Assets under construction and advance payments27 | - | €0.07m | - | €0.6m | €1.9m | €0.3m | €1.1m | €0.2m | ▼ 83.6% |
| Financial fixed assets28 | €18.3m | €21.5m | €19.5m | €19.5m | €19.6m | €8.3m | €8.3m | €8.5m | ▲ 1.8% |
| Affiliated companies280/1 | - | €21.4m | - | €19.5m | €19.6m | €8.2m | €8.3m | €8.4m | ▲ 1.7% |
| Participating interests280 | - | €21.4m | - | €19.5m | €19.6m | €8.2m | €8.3m | €8.4m | ▲ 1.7% |
| Other financial fixed assets284/8 | - | €0.05m | - | €0.001m | €0.04m | €0.004m | €0.02m | €0.03m | ▲ 38.8% |
| Amounts receivable and cash guarantees285/8 | - | €0.05m | - | €0.001m | €0.04m | €0.004m | €0.02m | €0.03m | ▲ 38.8% |
| Current assets29/58 | €19.4m | €23.3m | €21.4m | €31.2m | €40.2m | €29.2m | €33.1m | €31.0m | ▼ 6.4% |
| Stocks and contracts in progress3 | €9.6m | €9.5m | €9.9m | €16.2m | €23.9m | €16.7m | €19.9m | €20.7m | ▲ 4.1% |
| Stocks30/36 | - | €9.5m | - | €16.2m | €23.9m | €16.7m | €19.9m | €20.7m | ▲ 4.1% |
| Raw materials and consumables30/31 | - | €3.8m | - | €10.1m | €13.8m | €9.7m | €9.9m | €9.2m | ▼ 7.4% |
| Work in progress32 | - | €1.7m | - | €0.8m | €1.2m | €1.1m | €1.2m | €1.0m | ▼ 17.8% |
| Finished goods33 | - | €4.0m | - | €5.3m | €8.8m | €5.9m | €8.8m | €10.5m | ▲ 20.0% |
| Amounts receivable within one year40/41 | €9.4m | €13.3m | €11.0m | €13.9m | €16.0m | €10.9m | €12.0m | €9.3m | ▼ 22.4% |
| Trade receivables40 | - | €9.9m | - | €11.6m | €10.6m | €10.3m | €11.5m | €8.8m | ▼ 23.0% |
| Other amounts receivable41 | - | €3.5m | - | €2.3m | €5.4m | €0.6m | €0.6m | €0.5m | ▼ 11.0% |
| Cash at bank and in hand54/58 | €0.3m | €0.4m | €0.4m | €0.8m | €0.3m | €1.5m | €0.7m | €0.7m | ▼ 7.3% |
| Deferred charges and accrued income490/1 | - | €0.1m | - | €0.3m | €0.1m | €0.2m | €0.5m | €0.3m | ▼ 35.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €49.2m | €53.8m | €48.4m | €57.7m | €67.3m | €44.7m | €49.1m | €48.6m | ▼ 1.1% |
| Equity10/15 | €21.0m | €22.6m | €25.6m | €30.7m | €36.6m | €23.0m | €23.4m | €22.0m | ▼ 6.1% |
| Contributions10/11 | €21.1m | €21.1m | €21.1m | €21.1m | €21.1m | €14.5m | €14.5m | €14.7m | ▲ 1.4% |
| Capital10 | - | €21.1m | - | €21.1m | €21.1m | €14.5m | €14.5m | €14.7m | ▲ 1.4% |
| Issued capital100 | - | €21.1m | - | €21.1m | €21.1m | €14.5m | €14.5m | €14.7m | ▲ 1.4% |
| Reserves13 | €1.5m | €1.5m | €1.7m | €1.0m | €2.3m | €1.6m | €1.6m | €1.6m | = |
| Non-distributable reserves130/1 | - | - | - | €1.0m | €1.3m | €0.9m | €0.9m | €0.9m | = |
| Legal reserve130 | - | €0.5m | - | €1.0m | €1.3m | €0.9m | €0.9m | €0.9m | = |
| Reserves not available under the articles1311 | - | €0.001m | - | - | - | - | - | - | - |
| Other1319 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Tax-exempt reserves132 | - | €0.8m | - | €0.02m | €1.0m | €0.7m | €0.7m | - | - |
| Distributable reserves133 | - | €0.3m | - | - | €0.02m | €0.01m | €0.01m | €0.7m | ▲ 65× |
| Profit (loss) carried forward14 | -€1.8m | -€0.1m | €2.7m | €8.5m | €13.2m | €6.9m | €7.2m | €5.6m | ▼ 23.1% |
| Investment grants15 | - | €0.1m | - | €0.03m | €0.02m | €0.01m | €0.006m | €0.05m | ▲ 703% |
| Provisions and deferred taxes16 | €0.1m | €0.1m | €0.04m | €0.1m | €0.2m | €0.4m | €0.6m | - | - |
| Provisions for liabilities and charges160/5 | - | €0.1m | - | €0.1m | €0.2m | €0.4m | €0.6m | - | - |
| Major repairs and maintenance162 | - | - | - | €0.06m | €0.2m | €0.2m | €0.3m | - | - |
| Other liabilities and charges164/5 | - | €0.1m | - | €0.04m | - | €0.2m | €0.3m | - | - |
| Amounts payable17/49 | €28.1m | €31.1m | €22.7m | €26.9m | €30.5m | €21.2m | €25.1m | €26.6m | ▲ 5.9% |
| Amounts payable after more than one year17 | €8.6m | €7.8m | €5.3m | €4.1m | €3.9m | €3.4m | €4.2m | €3.9m | ▼ 6.4% |
| Financial debts170/4 | - | €7.8m | - | €4.1m | €3.9m | €3.4m | €4.2m | €3.9m | ▼ 6.4% |
| Subordinated loans170 | - | €2.8m | - | €1.2m | €0.4m | €0 | - | - | - |
| Leasing and similar obligations172 | - | €0.4m | - | €0.03m | €0.04m | €0.03m | €0.01m | €0.04m | ▲ 174% |
| Credit institutions173 | - | €2.9m | - | €1.8m | €2.9m | €3.1m | €4.1m | €3.8m | ▼ 5.2% |
| Other loans174 | - | €1.7m | - | €1.0m | €0.6m | €0.3m | €0.1m | €0.02m | ▼ 81.5% |
| Amounts payable within one year42/48 | €19.1m | €22.2m | €16.4m | €20.8m | €26.0m | €16.2m | €19.0m | €21.9m | ▲ 15.4% |
| Current portion of amounts payable after more than one year42 | - | €2.7m | - | €2.5m | €2.1m | €1.6m | €1.1m | €1.5m | ▲ 39.3% |
| Financial debts43 | - | €12.2m | - | €5.7m | €11.9m | €4.1m | €9.8m | €11.2m | ▲ 13.9% |
| Credit institutions430/8 | - | €10.7m | - | €5.7m | €11.9m | €4.1m | €9.8m | €11.2m | ▲ 13.9% |
| Other loans439 | - | €1.5m | - | - | - | - | - | - | - |
| Trade debts44 | €5.7m | €5.9m | €6.2m | €9.2m | €8.3m | €6.9m | €5.9m | €7.0m | ▲ 18.1% |
| Suppliers440/4 | - | €5.9m | - | €9.2m | €8.3m | €6.8m | €5.9m | €7.0m | ▲ 18.3% |
| Bills of exchange payable441 | - | €0.02m | - | €0.002m | - | €0.05m | €0.008m | - | - |
| Advances received on contracts in progress46 | - | €0.2m | - | €0.3m | €0.1m | €0.07m | €0.3m | €0.03m | ▼ 90.3% |
| Taxes, remuneration and social security45 | - | €1.2m | - | €1.6m | €2.0m | €2.1m | €2.0m | €2.3m | ▲ 15.6% |
| Taxes450/3 | - | €0.05m | - | €0.004m | €0.2m | €0.3m | €0.05m | €0.06m | ▲ 8.6% |
| Remuneration and social security454/9 | - | €1.1m | - | €1.6m | €1.8m | €1.8m | €1.9m | €2.2m | ▲ 15.8% |
| Other amounts payable47/48 | - | - | - | €1.4m | €1.6m | €1.4m | - | - | - |
| Accrued charges and deferred income492/3 | - | €1.1m | - | €2.1m | €0.6m | €1.7m | €2.0m | €0.8m | ▼ 60.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4.9m | €1.7m | €4.5m | €6.5m | €7.3m | -€2.2m | €0.4m | -€1.7m | - |
| + Depreciation and write-downs630 | €3.3m | €3.1m | €2.8m | €2.1m | €1.7m | €1.4m | €1.3m | €1.4m | ▲ 3.3% |
| Operating cash flow (approximation) | €8.2m | €4.8m | €7.3m | €8.6m | €9.1m | -€0.9m | €1.7m | -€0.3m | - |
| Investment in fixed assets (approximation) | - | -€3.8m | €0.7m | -€1.6m | -€2.3m | €10.2m | -€1.9m | -€2.9m | ▼ 51.7% |
| Change in cash | - | €0.09m | -€0.06m | €0.4m | -€0.5m | €1.2m | -€0.7m | -€0.05m | ▲ 92.8% |
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, 830 companies had the same profile as GALACTIC has now. Two years later, 96.5% were still going and 0.6% had gone bankrupt.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a small loss
96.5%
was still going
2.9%
stopped otherwise
0.6%
went bankrupt
That fits the bankruptcy probability of GALACTIC itself: 0.2% 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 830 companies, not a prediction for GALACTIC. 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 49 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | full format | 18-08-2026 | 2026-00419933 | |
| 31-03-2025 | full format | 01-09-2025 | 2025-00486165 | |
| 31-03-2024 | full format | 21-08-2024 | 2024-00378206 | |
| 31-03-2023 | full format | 26-10-2023 | 2023-00501055 | |
| 31-03-2022 | full format | 26-09-2022 | 2022-20438911 | |
| 31-03-2021 | full format | 30-08-2021 | 2021-61700342 | |
| 31-03-2020 | full format | 27-07-2020 | 2020-35300579 | |
| 31-03-2019 | full format | 03-09-2019 | 2019-63100091 | |
| 31-03-2018 | full format | 09-07-2018 | 2018-31200052 | |
| 31-03-2017 | full format | 05-10-2017 | 2017-66100080 |