Geo-Aquaplus
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 21-04-2026 PDF all 10 filings
Turnover
≈ €1.0m
Estimated: probably between €630,000 and €1.8m
Total assets
€1.3m▼ 38.0%
2024 · €2.0m
Net result
€214,228▲ 11.7%
2024 · €191,746
Working capital
€252,242▼ 7.7%
2024 · €273,418
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€261,712
▼ 1.9%
2025
20182025
Net result
€214,228
▲ 11.7%
2025
20182025
Equity
€967,733
▲ 28.4%
2025
20182025
Total assets
€1.3m
▼ 38.0%
2025
20182025
Debt
€302,451
▼ 76.6%
2025
20182025
Working capital
€252,242
▼ 7.7%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.09m--€0.04m€0.07m-€0.08m€0.3m€0.3m▲ 12.8%€0.3m▼ 16.7%€0.3m▼ 1.9%
Net result€0.05m--€0.08m€0.04m-€0.1m€0.2m€0.2m▼ 2.4%€0.2m▼ 15.8%€0.2m▲ 11.7%
Equity€1.0m-€0.9m▼ 7.8%€1.0m▲ 4.1%€0.9m▼ 11.6%€1.1m▲ 27.4%€1.3m▲ 21.0%€0.8m▼ 42.6%€1.0m▲ 28.4%
Total assets€2.7m-€2.5m▼ 9.8%€2.3m▼ 4.9%€1.9m▼ 17.2%€2.0m▲ 3.0%€2.0m▲ 1.9%€2.0m▲ 0.3%€1.3m▼ 38.0%
Debt€1.7m-€1.5m▼ 10.9%€1.4m▼ 10.3%€1.1m▼ 21.0%€0.9m▼ 16.0%€0.7m▼ 20.6%€1.3m▲ 77.4%€0.3m▼ 76.6%
Working capital€0.3m-€0.2m▼ 8.2%€0.2m▼ 18.2%€0.3m▲ 63.7%€0.6m▲ 80.1%€0.8m▲ 43.1%€0.3m▼ 67.0%€0.3m▼ 7.7%
The operating result for 2025 is 2% lower than in 2024. It is the second fall in a row.
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 €1.3m
Fixed assets
€715,491 ▲ 5.2%
Current assets
€554,693 ▼ 59.5%
Equity and liabilities €1.3m
Equity
€967,733 ▲ 28.4%
Debt
€302,451 ▼ 76.6%
Debt's share of the balance-sheet total falls from 63.2% to 23.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€438,939▼
2024 · €469,940
Cash flow
€391,455▼
2024 · €394,883
Current ratio
1.83▲
2024 · 1.25
Debt to equity
0.31▼
2024 · 1.72
ROE
22.1%▼
2024 · 25.4%
ROA
16.9%▲
2024 · 9.4%
Interest coverage
52.76▲
2024 · 36.71
Debt ≤ 1 year
€302,451▼
2024 · €1.1m
Income taxes
€71,744▲
2024 · €64,685
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 | €56,250 | - | - | - | €212,631 |
| Depreciation and write-downs of the year | €499,679 | €225,888 | €221,717 | €203,138 | €177,227 |
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 | - | - | - | €2,572 | €0 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €393,939 | €413,787 | €476,701 | €499,679 | €225,888 | €221,717 | €203,138 | €177,227 | ▼ 12.8% |
| Other operating charges640/8 | - | - | - | €1,501 | €1,403 | €1,535 | €1,589 | €1,630 | ▲ 2.6% |
| Non-recurring operating charges66A | - | - | - | - | €0 | - | - | - | - |
| Gross operating margin9900 | €486,890 | €370,571 | €544,808 | €417,212 | €511,136 | €543,533 | €471,529 | €440,570 | ▼ 6.6% |
| Operating profit (loss)9901 | €92,541 | -€43,635 | €67,681 | -€83,968 | €283,845 | €320,281 | €266,803 | €261,712 | ▼ 1.9% |
| Financial income75/76B | - | - | - | - | - | €507 | €2,431 | €32,578 | ▲ 13× |
| Recurring financial income75 | - | - | - | - | - | €507 | €2,431 | €32,578 | ▲ 13× |
| Financial charges65/66B | - | - | - | €27,995 | €20,959 | €17,211 | €12,803 | €8,319 | ▼ 35.0% |
| Recurring financial charges65 | €38,503 | €34,602 | €29,745 | €27,995 | €20,959 | €17,211 | €12,803 | €8,319 | ▼ 35.0% |
| Profit (loss) for the period before taxes9903 | €54,038 | -€78,237 | €37,936 | -€111,963 | €262,887 | €303,578 | €256,431 | €285,971 | ▲ 11.5% |
| Income taxes67/77 | €1,200 | -€380 | - | - | €29,522 | €75,894 | €64,685 | €71,744 | ▲ 10.9% |
| Profit (loss) for the period9904 | €52,838 | -€77,856 | €37,936 | -€111,963 | €233,364 | €227,683 | €191,746 | €214,228 | ▲ 11.7% |
| Profit (loss) for the period to be appropriated9905 | €52,838 | -€77,856 | €37,936 | -€111,963 | €233,364 | €227,683 | €191,746 | €214,228 | ▲ 11.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.7m | €2.5m | €2.3m | €1.9m | €2.0m | €2.0m | €2.0m | €1.3m | ▼ 38.0% |
| Fixed assets21/28 | €2.1m | €1.9m | €1.8m | €1.3m | €1.1m | €0.9m | €0.7m | €0.7m | ▲ 5.2% |
| Tangible fixed assets22/27 | €2.1m | €1.9m | €1.8m | €1.3m | €1.1m | €0.9m | €0.7m | €0.7m | ▲ 5.2% |
| Plant, machinery and equipment23 | - | - | - | €1.3m | €1.1m | €0.9m | €0.7m | €0.7m | ▲ 5.2% |
| Current assets29/58 | €0.6m | €0.5m | €0.6m | €0.6m | €0.9m | €1.2m | €1.4m | €0.6m | ▼ 59.5% |
| Amounts receivable within one year40/41 | €0.3m | €0.2m | €0.2m | €0.1m | €0.2m | €0.3m | €0.2m | €0.1m | ▼ 18.1% |
| Trade receivables40 | - | - | - | €0.1m | €0.2m | €0.2m | €0.2m | €0.1m | ▼ 18.1% |
| Other amounts receivable41 | - | - | - | - | €0 | €0.02m | - | - | - |
| Current investments50/53 | - | - | - | - | - | €0.8m | €0.9m | €0.3m | ▼ 66.5% |
| Cash at bank and in hand54/58 | €0.3m | €0.3m | €0.3m | €0.5m | €0.7m | €0.09m | €0.3m | €0.1m | ▼ 61.2% |
| Deferred charges and accrued income490/1 | - | - | - | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | ▲ 1.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.7m | €2.5m | €2.3m | €1.9m | €2.0m | €2.0m | €2.0m | €1.3m | ▼ 38.0% |
| Equity10/15 | €1.0m | €0.9m | €1.0m | €0.9m | €1.1m | €1.3m | €0.8m | €1.0m | ▲ 28.4% |
| Contributions10/11 | €1.0m | €1.0m | - | €1.0m | €1.0m | €1.0m | €0.5m | €0.5m | = |
| Reserves13 | €130 | €130 | €130 | €130 | €130 | €130 | - | - | - |
| Distributable reserves133 | - | - | - | €130 | €130 | €130 | - | - | - |
| Profit (loss) carried forward14 | €0.002m | -€0.08m | -€0.04m | -€0.1m | €0.08m | €0.3m | €0.3m | €0.5m | ▲ 84.9% |
| Amounts payable17/49 | €1.7m | €1.5m | €1.4m | €1.1m | €0.9m | €0.7m | €1.3m | €0.3m | ▼ 76.6% |
| Amounts payable after more than one year17 | €1.4m | €1.2m | €1.0m | €0.8m | €0.6m | €0.4m | €0.2m | - | - |
| Financial debts170/4 | - | - | - | €0.8m | €0.6m | €0.4m | €0.2m | - | - |
| Amounts payable within one year42/48 | €0.3m | €0.3m | €0.4m | €0.3m | €0.3m | €0.3m | €1.1m | €0.3m | ▼ 72.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Trade debts44 | €0.1m | €0.1m | €0.2m | €0.08m | €0.06m | €0.08m | €0.1m | €0.07m | ▼ 33.7% |
| Suppliers440/4 | - | - | - | €0.08m | €0.06m | €0.08m | €0.1m | €0.07m | ▼ 33.7% |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0.06m | €0.05m | €0.03m | €0.03m | ▼ 13.8% |
| Taxes450/3 | - | - | - | €0.01m | €0.06m | €0.05m | €0.03m | €0.03m | ▼ 13.8% |
| Other amounts payable47/48 | - | - | - | - | - | - | €0.8m | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.002m | €0 | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €52,838 | -€77,856 | €37,936 | -€111,963 | €233,364 | €227,683 | €191,746 | €214,228 | ▲ 11.7% |
| + Depreciation and write-downs630 | €393,939 | €413,787 | €476,701 | €499,679 | €225,888 | €221,717 | €203,138 | €177,227 | ▼ 12.8% |
| Operating cash flow (approximation) | €446,777 | €335,931 | €514,637 | €387,716 | €459,252 | €449,400 | €394,883 | €391,455 | ▼ 0.9% |
| Investment in fixed assets (approximation) | - | -€186,981 | -€350,524 | -€35,807 | €0 | €0 | €0 | -€212,631 | - |
| Change in cash | - | €56,701 | €11,808 | €168,220 | €168,600 | -€578,176 | €248,721 | -€204,604 | - |
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, 17,811 companies had the same profile as Geo-Aquaplus has now. Two years later, 96.5% were still going and 0.3% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
96.5%
was still going
3.1%
stopped otherwise
0.3%
went bankrupt
That fits the bankruptcy probability of Geo-Aquaplus 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 17,811 companies, not a prediction for Geo-Aquaplus. 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 (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 21-04-2026 | 2026-00083732 | |
| 31-12-2024 | abbreviated format | 10-04-2025 | 2025-00069288 | |
| 31-12-2023 | abbreviated format | 02-04-2024 | 2024-00053876 | |
| 31-12-2022 | abbreviated format | 30-03-2023 | 2023-00052742 | |
| 31-12-2021 | abbreviated format | 02-02-2023 | 2023-00019298 | |
| 31-12-2020 | abbreviated format | 22-04-2021 | 2021-11000287 | |
| 31-12-2019 | abbreviated format | 28-04-2020 | 2020-10500354 | |
| 31-12-2018 | abbreviated format | 22-03-2019 | 2019-07800370 | |
| 31-12-2017 | abbreviated format | 27-03-2018 | 2018-08200310 | |
| 31-12-2016 | full format | 30-03-2017 | 2017-08600313 |