HARMONIZE
ActiveSummary
HARMONIZE has been active since 2016 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €390,828 and a net result of €44,643. Equity is growing by about 23% per year across the filed financial years. Its solvency ranks better than 93% of 1,107 sector peers (NACE 93, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Financials · financial year 2025, abbreviated format
Equity
€390,828▼ 8.6%
2024 · €427,587
Total assets
€449,937▼ 3.1%
2024 · €464,368
Net result
€44,643▼ 48.0%
2024 · €85,782
Working capital
€314,622▼ 5.3%
2024 · €332,353
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result has fallen two years in a row; 2025 is 54% below 2024 and is the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€56,242
2025
Net result€44,643
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€449,937
2025
Equity€390,828
2025
Debt€59,110
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€314,622
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)9.9%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency86.9%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio6.32
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)0.8
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 93, Sports, amusement and recreation activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€19,372-€54,123▲ 179%€70,158▲ 29.6%€83,340▲ 18.8%€66,529▼ 20.2%€144,518▲ 117%€121,647▼ 15.8%€56,242▼ 53.8%
Net result€12,927-€36,759▲ 184%€48,795above the sector's middle half▲ 32.7%€57,168within the sector's middle half▲ 17.2%€46,192within the sector's middle half▼ 19.2%€100,196within the sector's middle half▲ 117%€85,782within the sector's middle half▼ 14.4%€44,643within the sector's middle half▼ 48.0%
Equity€52,696-€89,455▲ 69.8%€138,250within the sector's middle half▲ 54.5%€195,417within the sector's middle half▲ 41.4%€241,609within the sector's middle half▲ 23.6%€341,805within the sector's middle half▲ 41.5%€427,587within the sector's middle half▲ 25.1%€390,828within the sector's middle half▼ 8.6%
Total assets€383,960-€411,909▲ 7.3%€537,131within the sector's middle half▲ 30.4%€329,529within the sector's middle half▼ 38.7%€333,769below the sector's middle half▲ 1.3%€412,374within the sector's middle half▲ 23.6%€464,368within the sector's middle half▲ 12.6%€449,937within the sector's middle half▼ 3.1%
Debt€331,264-€322,454▼ 2.7%€398,881▲ 23.7%€134,112▼ 66.4%€92,160▼ 31.3%€70,569▼ 23.4%€36,781▼ 47.9%€59,110▲ 60.7%
Working capital-€2,675-€57,253€107,542within the sector's middle half▲ 87.8%€140,555within the sector's middle half▲ 30.7%€181,484within the sector's middle half▲ 29.1%€223,476within the sector's middle half▲ 23.1%€332,353within the sector's middle half▲ 48.7%€314,622above the sector's middle half▼ 5.3%
Solvency13.7%-21.7%▲ 8.0pp25.7%within the sector's middle half▲ 4.0pp59.3%within the sector's middle half▲ 33.6pp72.4%above the sector's middle half▲ 13.1pp82.9%above the sector's middle half▲ 10.5pp92.1%above the sector's middle half▲ 9.2pp86.9%above the sector's middle half▼ 5.2pp
Current ratio0.97-2.08▲ 1.111.87within the sector's middle half▼ 0.212.15within the sector's middle half▲ 0.283.02above the sector's middle half▲ 0.884.17above the sector's middle half▲ 1.1410.04above the sector's middle half▲ 5.876.32above the sector's middle half▼ 3.71
Return on assets (ROA)3.4%-8.9%▲ 5.6pp9.1%above the sector's middle half▲ 0.2pp17.3%above the sector's middle half▲ 8.3pp13.8%above the sector's middle half▼ 3.5pp24.3%above the sector's middle half▲ 10.5pp18.5%above the sector's middle half▼ 5.8pp9.9%above the sector's middle half▼ 8.6pp
Staff (FTE)2-2.9▲ 45.0%1.9within the sector's middle half▼ 34.5%1.2below the sector's middle half▼ 36.8%1below the sector's middle half▼ 16.7%1.1below the sector's middle half▲ 10.0%1.1below the sector's middle half=0.8below the sector's middle half▼ 27.3%
above
within
below
the middle half of NACE 93, Sports, amusement and recreation activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €449,937
Fixed assets
€76,206 ▼ 20.0%
Current assets
€373,731 ▲ 1.2%
Equity and liabilities €449,937
Equity
€390,828 ▼ 8.6%
Debt
€59,110 ▲ 60.7%
Debt's share of the balance-sheet total rises from 7.9% to 13.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€87,173▼
2024 · €152,917
Cash flow
€75,573▼
2024 · €117,052
Quick ratio
6.12▼
2024 · 9.07
Debt to equity
0.15▲
2024 · 0.09
ROE
11.4%▼
2024 · 20.1%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€59,110▲
2024 · €36,781
Income taxes
€12,289▼
2024 · €36,095
Staff costs
€39,800▼
2024 · €55,851
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €14,310 | - | - | €1,537 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €52,404 | €47,526 | €50,769 | €55,851 | €39,800 | ▼ 28.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €34,780 | €28,324 | €30,394 | €14,775 | €19,736 | €28,212 | €31,270 | €30,931 | ▼ 1.1% |
| Other operating charges640/8 | - | - | - | €38,283 | €1,554 | €37 | €1,616 | €13,901 | ▲ 760% |
| Non-recurring operating charges66A | - | - | - | €21,736 | €1,500 | €1,250 | €639 | - | - |
| Gross operating margin9900 | €135,934 | €185,608 | €155,787 | €210,537 | €136,845 | €224,787 | €211,023 | €140,874 | ▼ 33.2% |
| Operating profit (loss)9901 | €19,372 | €54,123 | €70,158 | €83,340 | €66,529 | €144,518 | €121,647 | €56,242 | ▼ 53.8% |
| Financial income75/76B | - | - | - | €32 | €41 | €5 | €993 | €1,204 | ▲ 21.2% |
| Recurring financial income75 | €204 | €52 | €37 | €32 | €41 | €5 | €993 | €1,204 | ▲ 21.2% |
| Financial charges65/66B | - | - | - | €11,032 | €832 | €373 | €764 | €514 | ▼ 32.6% |
| Recurring financial charges65 | €6,443 | €8,322 | €8,034 | €11,032 | €832 | €373 | €764 | €514 | ▼ 32.6% |
| Profit (loss) for the period before taxes9903 | €13,133 | €45,853 | €62,161 | €72,340 | €65,739 | €144,150 | €121,877 | €56,932 | ▼ 53.3% |
| Income taxes67/77 | €207 | €9,094 | €13,366 | €15,172 | €19,547 | €43,954 | €36,095 | €12,289 | ▼ 66.0% |
| Profit (loss) for the period9904 | €12,927 | €36,759 | €48,795 | €57,168 | €46,192 | €100,196 | €85,782 | €44,643 | ▼ 48.0% |
| Profit (loss) for the period to be appropriated9905 | €12,927 | €36,759 | €48,795 | €57,168 | €46,192 | €100,196 | €85,782 | €44,643 | ▼ 48.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €383,960 | €411,909 | €537,131 | €329,529 | €333,769 | €412,374 | €464,368 | €449,937 | ▼ 3.1% |
| Fixed assets21/28 | €295,889 | €301,823 | €305,955 | €66,270 | €62,656 | €118,328 | €95,233 | €76,206 | ▼ 20.0% |
| Intangible fixed assets21 | €1,036 | €536 | €36 | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €293,967 | €301,286 | €305,918 | €66,270 | €62,656 | €118,328 | €95,233 | €76,206 | ▼ 20.0% |
| Land and buildings22 | - | - | - | €10,901 | €19,704 | €17,508 | €15,311 | €21,575 | ▲ 40.9% |
| Plant, machinery and equipment23 | - | - | - | €47,792 | €37,933 | €37,958 | €30,615 | €19,874 | ▼ 35.1% |
| Furniture and vehicles24 | - | - | - | €7,576 | €5,018 | €62,863 | €49,307 | €34,756 | ▼ 29.5% |
| Financial fixed assets28 | €885 | - | - | - | - | - | - | - | - |
| Current assets29/58 | €88,071 | €110,086 | €231,176 | €263,259 | €271,114 | €294,046 | €369,134 | €373,731 | ▲ 1.2% |
| Stocks and contracts in progress3 | €9,783 | €18,142 | €64,906 | €56,729 | €50,911 | €34,600 | €35,629 | €11,744 | ▼ 67.0% |
| Stocks30/36 | - | - | - | €56,729 | €50,911 | €34,600 | €35,629 | €11,744 | ▼ 67.0% |
| Amounts receivable within one year40/41 | €24,134 | €6,041 | €1,424 | €2,445 | €9,303 | €176 | €4,953 | €11,998 | ▲ 142% |
| Trade receivables40 | - | - | - | €2,415 | €9,303 | €176 | €915 | €139 | ▼ 84.8% |
| Other amounts receivable41 | - | - | - | €30 | - | - | €4,038 | €11,859 | ▲ 194% |
| Current investments50/53 | - | - | - | - | - | - | €270,000 | €210,258 | ▼ 22.1% |
| Cash at bank and in hand54/58 | €52,075 | €84,032 | €132,873 | €203,706 | €210,454 | €257,326 | €33,565 | €137,369 | ▲ 309% |
| Deferred charges and accrued income490/1 | - | - | - | €379 | €446 | €1,943 | €24,987 | €2,363 | ▼ 90.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €383,960 | €411,909 | €537,131 | €329,529 | €333,769 | €412,374 | €464,368 | €449,937 | ▼ 3.1% |
| Equity10/15 | €52,696 | €89,455 | €138,250 | €195,417 | €241,609 | €341,805 | €427,587 | €390,828 | ▼ 8.6% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €34,096 | €70,855 | €119,650 | €176,817 | €223,009 | €323,205 | €408,987 | €372,228 | ▼ 9.0% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | - | - | - | - | - |
| Distributable reserves133 | - | - | - | €174,957 | €223,009 | €323,205 | €408,987 | €372,228 | ▼ 9.0% |
| Amounts payable17/49 | €331,264 | €322,454 | €398,881 | €134,112 | €92,160 | €70,569 | €36,781 | €59,110 | ▲ 60.7% |
| Amounts payable after more than one year17 | €240,518 | €269,621 | €275,247 | €11,407 | €2,531 | - | - | - | - |
| Financial debts170/4 | - | - | - | €11,407 | €2,531 | - | - | - | - |
| Amounts payable within one year42/48 | €90,746 | €52,833 | €123,634 | €122,704 | €89,629 | €70,569 | €36,781 | €59,110 | ▲ 60.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €13,279 | €8,876 | €2,531 | - | - | - |
| Trade debts44 | €54,467 | €2,473 | €56,344 | €10,787 | €25,086 | €11,974 | €19,876 | €7,402 | ▼ 62.8% |
| Suppliers440/4 | - | - | - | €10,787 | €25,086 | €11,974 | €19,876 | €7,402 | ▼ 62.8% |
| Taxes, remuneration and social security45 | - | - | - | €49,687 | €10,321 | €9,720 | €1,978 | €4,525 | ▲ 129% |
| Taxes450/3 | - | - | - | €47,857 | €10,321 | €9,720 | €1,978 | €4,525 | ▲ 129% |
| Remuneration and social security454/9 | - | - | - | €1,830 | - | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €48,952 | €45,345 | €46,344 | €14,928 | €47,183 | ▲ 216% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €12,927 | €36,759 | €48,795 | €57,168 | €46,192 | €100,196 | €85,782 | €44,643 | ▼ 48.0% |
| + Depreciation and write-downs630 | €34,780 | €28,324 | €30,394 | €14,775 | €19,736 | €28,212 | €31,270 | €30,931 | ▼ 1.1% |
| Operating cash flow (approximation) | €47,707 | €65,082 | €79,189 | €71,942 | €65,927 | €128,408 | €117,052 | €75,573 | ▼ 35.4% |
| Investment in fixed assets (approximation) | - | -€34,258 | -€34,526 | €224,910 | -€16,121 | -€83,885 | -€8,175 | -€11,903 | ▼ 45.6% |
| Change in cash | - | €31,957 | €48,841 | €70,833 | €6,748 | €46,872 | -€223,761 | €103,804 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (9)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 10-03-2026 | 2026-00052661 |
| 31-12-2024 | abbreviated format | 11-06-2025 | 2025-00139428 |
| 31-12-2023 | abbreviated format | 24-06-2024 | 2024-00160837 |
| 31-12-2022 | abbreviated format | 16-06-2023 | 2023-00131959 |
| 31-12-2021 | abbreviated format | 21-06-2022 | 2022-20083639 |
| 31-12-2020 | abbreviated format | 10-06-2021 | 2021-19000394 |
| 31-12-2019 | abbreviated format | 22-06-2020 | 2020-19400024 |
| 31-12-2018 | abbreviated format | 11-06-2019 | 2019-17600430 |
| 31-12-2017 | abbreviated format | 18-06-2018 | 2018-19800295 |
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Of the 1,510 active companies whose main activity is fitness centres (NACE 93130), figures are known for 703. 395 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Subsidies and aid
Flemish government
2022 to 2025 · 4 entries · €8,745 awarded · €8,745 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €750 | €750 |
| 2024 | 1 | €5,130 | €5,130 |
| 2023 | 1 | €210 | €210 |
| 2022 | 1 | €2,655 | €2,655 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.