GREENBAZAAR
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 16-12-2025 PDF all 17 filings
Turnover
≈ €29,000
Estimated: probably between €14,000 and €59,000
Total assets
€16,889▲ 8.6%
2024 · €15,555
Net result
€2,168
2024 · -€3,747
Working capital
€12,968▲ 10.2%
2024 · €11,773
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€5,371
2025
20192025
Net result
€2,168
2025
lowest quarter of the sector
20192025
Equity
€13,941
▲ 18.4%
2025
lowest quarter of the sector
20192025
Total assets
€16,889
▲ 8.6%
2025
lowest quarter of the sector
20192025
Debt
€2,949
▼ 22.0%
2025
20192025
Working capital
€12,968
▲ 10.2%
2025
middle half of the sector
20192025
Solvency
82.5%
▲ 6.9pp
2025
highest quarter of the sector
20192025
Current ratio
5.40
▲ 1.28
2025
highest quarter of the sector
20192025
Return on assets (ROA)
12.8%
▲ 36.9pp
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€8,694--€1,126€2,899€15,029▲ 418%-€2,433-€2,544▼ 4.5%€5,371
Net result€7,025--€1,535below the sector's middle half€1,163below the sector's middle half€9,524within the sector's middle half▲ 719%-€2,769below the sector's middle half-€3,747below the sector's middle half▼ 35.3%€2,168below the sector's middle half
Equity€9,137-€7,602below the sector's middle half▼ 16.8%€8,764below the sector's middle half▲ 15.3%€18,289below the sector's middle half▲ 109%€15,520below the sector's middle half▼ 15.1%€11,773below the sector's middle half▼ 24.1%€13,941below the sector's middle half▲ 18.4%
Total assets€12,110-€14,199below the sector's middle half▲ 17.2%€12,422below the sector's middle half▼ 12.5%€26,106below the sector's middle half▲ 110%€21,939below the sector's middle half▼ 16.0%€15,555below the sector's middle half▼ 29.1%€16,889below the sector's middle half▲ 8.6%
Debt€2,974-€6,597▲ 122%€3,658▼ 44.6%€7,817▲ 114%€6,419▼ 17.9%€3,782▼ 41.1%€2,949▼ 22.0%
Working capital€8,324-€3,169within the sector's middle half▼ 61.9%€6,585within the sector's middle half▲ 108%€18,046within the sector's middle half▲ 174%€15,520within the sector's middle half▼ 14.0%€11,773within the sector's middle half▼ 24.1%€12,968within the sector's middle half▲ 10.2%
Solvency75.4%-53.5%within the sector's middle half▼ 21.9pp70.6%within the sector's middle half▲ 17.0pp70.1%within the sector's middle half▼ 0.5pp70.7%within the sector's middle half▲ 0.7pp75.7%within the sector's middle half▲ 4.9pp82.5%above the sector's middle half▲ 6.9pp
Current ratio3.80-1.48within the sector's middle half▼ 2.322.80within the sector's middle half▲ 1.323.31within the sector's middle half▲ 0.513.42within the sector's middle half▲ 0.114.11within the sector's middle half▲ 0.705.40above the sector's middle half▲ 1.28
Return on assets (ROA)58.0%--10.8%below the sector's middle half▼ 68.8pp9.4%within the sector's middle half▲ 20.2pp36.5%above the sector's middle half▲ 27.1pp-12.6%below the sector's middle half▼ 49.1pp-24.1%below the sector's middle half▼ 11.5pp12.8%within the sector's middle half▲ 36.9pp
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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 profit of €5,371, after a loss of €2,544 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 €16,889
Fixed assets
€973
Current assets
€15,917
Equity and liabilities €16,889
Equity
€13,941 ▲ 18.4%
Debt
€2,949 ▼ 22.0%
Debt's share of the balance-sheet total falls from 24.3% to 17.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€5,711▲
2024 · -€2,544
Cash flow
€2,508▲
2024 · -€3,747
Debt to equity
0.21▼
2024 · 0.32
ROE
15.6%▲
2024 · -31.8%
Interest coverage
3.24▲
2024 · -3.86
Debt ≤ 1 year
€2,949▼
2024 · €3,782
Income taxes
€1,449▲
2024 · €544
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | - | €1,312 |
| Depreciation and write-downs of the year | €1,937 | €63 | €0 | €340 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €1,954 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €317 | €2,253 | €2,253 | €1,937 | €63 | €0 | €340 | - |
| Other operating charges640/8 | - | - | - | €293 | €571 | €953 | €597 | ▼ 37.4% |
| Gross operating margin9900 | €9,205 | €1,127 | €5,689 | €17,259 | -€1,800 | -€1,590 | €6,307 | - |
| Operating profit (loss)9901 | €8,694 | -€1,126 | €2,899 | €15,029 | -€2,433 | -€2,544 | €5,371 | - |
| Financial income75/76B | - | - | - | €1 | €0 | - | €8 | - |
| Recurring financial income75 | €102 | - | €47 | €1 | €0 | - | €8 | - |
| Financial charges65/66B | - | - | - | €48 | €187 | €660 | €1,762 | ▲ 167% |
| Recurring financial charges65 | €15 | €4 | €18 | €48 | €187 | €660 | €1,762 | ▲ 167% |
| Profit (loss) for the period before taxes9903 | €8,782 | -€1,130 | €2,928 | €14,982 | -€2,620 | -€3,203 | €3,617 | - |
| Income taxes67/77 | €1,757 | €405 | €1,765 | €5,458 | €149 | €544 | €1,449 | ▲ 166% |
| Profit (loss) for the period9904 | €7,025 | -€1,535 | €1,163 | €9,524 | -€2,769 | -€3,747 | €2,168 | - |
| Profit (loss) for the period to be appropriated9905 | €7,025 | -€1,535 | €1,163 | €9,524 | -€2,769 | -€3,747 | €2,168 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €12,110 | €14,199 | €12,422 | €26,106 | €21,939 | €15,555 | €16,889 | ▲ 8.6% |
| Fixed assets21/28 | €813 | €4,433 | €2,179 | €243 | €0 | - | €973 | - |
| Tangible fixed assets22/27 | €633 | €4,253 | €1,999 | €63 | €0 | - | €973 | - |
| Furniture and vehicles24 | - | - | - | €63 | €0 | - | €973 | - |
| Financial fixed assets28 | €180 | €180 | €180 | €180 | €0 | - | - | - |
| Current assets29/58 | €11,297 | €9,766 | €10,243 | €25,863 | €21,939 | €15,555 | €15,917 | ▲ 2.3% |
| Amounts receivable within one year40/41 | €4,901 | €9,030 | €900 | €1,485 | €1,099 | €1,970 | €7,674 | ▲ 290% |
| Trade receivables40 | - | - | - | €900 | €900 | €1,755 | €4,563 | ▲ 160% |
| Other amounts receivable41 | - | - | - | €585 | €200 | €215 | €3,111 | ▲ 14× |
| Cash at bank and in hand54/58 | €6,005 | €265 | €8,670 | €23,670 | €20,568 | €13,020 | €7,115 | ▼ 45.4% |
| Deferred charges and accrued income490/1 | - | - | - | €708 | €271 | €565 | €1,128 | ▲ 99.6% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €12,110 | €14,199 | €12,422 | €26,106 | €21,939 | €15,555 | €16,889 | ▲ 8.6% |
| Equity10/15 | €9,137 | €7,602 | €8,764 | €18,289 | €15,520 | €11,773 | €13,941 | ▲ 18.4% |
| Contributions10/11 | €21,500 | €21,500 | - | €21,500 | €21,500 | €21,500 | €21,500 | = |
| Profit (loss) carried forward14 | -€12,363 | -€13,898 | -€12,736 | -€3,211 | -€5,980 | -€9,727 | -€7,560 | ▲ 22.3% |
| Amounts payable17/49 | €2,974 | €6,597 | €3,658 | €7,817 | €6,419 | €3,782 | €2,949 | ▼ 22.0% |
| Amounts payable within one year42/48 | €2,974 | €6,597 | €3,658 | €7,817 | €6,419 | €3,782 | €2,949 | ▼ 22.0% |
| Financial debts43 | - | - | - | - | €672 | €506 | €173 | ▼ 65.9% |
| Other loans439 | - | - | - | - | €672 | €506 | €173 | ▼ 65.9% |
| Trade debts44 | €1,065 | €4,224 | €1,247 | €1,186 | €964 | €1,855 | €1,079 | ▼ 41.8% |
| Suppliers440/4 | - | - | - | €1,186 | €964 | €1,855 | €1,079 | ▼ 41.8% |
| Advances received on contracts in progress46 | - | - | - | - | - | €1,035 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | - | €6,631 | €3,372 | €386 | €1,698 | ▲ 339% |
| Taxes450/3 | - | - | - | €6,631 | €3,372 | €386 | €1,698 | ▲ 339% |
| Other amounts payable47/48 | - | - | - | - | €1,412 | €0 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,025 | -€1,535 | €1,163 | €9,524 | -€2,769 | -€3,747 | €2,168 | - |
| + Depreciation and write-downs630 | €317 | €2,253 | €2,253 | €1,937 | €63 | €0 | €340 | - |
| Operating cash flow (approximation) | €7,342 | €718 | €3,416 | €11,461 | -€2,707 | -€3,747 | €2,508 | - |
| Investment in fixed assets (approximation) | - | -€5,873 | €0 | €0 | €180 | - | - | - |
| Change in cash | - | -€5,740 | €8,404 | €15,001 | -€3,102 | -€7,548 | -€5,905 | ▲ 21.8% |
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, 34,693 companies had the same profile as GREENBAZAAR has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of GREENBAZAAR 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 34,693 companies, not a prediction for GREENBAZAAR. 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 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 16-12-2025 | 2025-00582249 | |
| 30-06-2024 | micro format | 02-12-2024 | 2024-00607855 | |
| 30-06-2023 | micro format | 30-01-2024 | 2024-00012758 | |
| 30-06-2022 | micro format | 24-10-2022 | 2022-20470425 | |
| 30-06-2021 | micro format | 26-10-2021 | 2021-73400366 | |
| 30-06-2020 | micro format | 17-11-2020 | 2020-70900039 | |
| 30-06-2019 | micro format | 21-11-2019 | 2019-74100264 | |
| 30-06-2018 | micro format | 17-12-2018 | 2018-74600561 | |
| 30-06-2017 | micro format | 01-12-2017 | 2017-71000057 | |
| 30-06-2016 | full format | 19-01-2017 | 2017-02100274 |