''HYDROTHAN''
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 4 days after the deadline Filed on 5 February 2026, deadline 1 February 2026 (7 months after the close on 1 July 2025, Companies Code art. 3:10). Source: NBB, 2026-00033254.
Annual accounts 2025 filed on 05-02-2026 PDF all 29 filings
Every figure per financial year
The operating result for 2025 is a loss of €70,949, smaller than the loss of €72,944 in 2024.
Staff
| Item | 01-07-2022 |
|---|---|
| Employees at the balance-sheet date | 4 |
| full-time | 1 |
| part-time | 3 |
| in full-time equivalents | 2.8 |
| Average over the year, in full-time equivalents | 2.9 |
| On a permanent contract | 4 |
| Joined | 1 |
| Left | 0 |
Source: social balance sheet in the 2022 annual accounts
Securities and guarantees
| Item | 01-07-2022 | 01-07-2023 | 01-07-2024 | 01-07-2025 |
|---|---|---|---|---|
| Mortgages, amount registered | €440,000 | - | - | - |
| Carrying value of the mortgaged assets | €414,348 | - | - | - |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €71,248 | -€4,098 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €66,183 | €61,266 | €60,911 | €54,071 | €44,942 | €41,572 | €40,882 | ▼ 1.7% |
| Other operating charges640/8 | - | - | - | €5,608 | €10,244 | €10,652 | €11,068 | ▲ 3.9% |
| Non-recurring operating charges66A | - | - | - | - | €1,300 | - | - | - |
| Gross operating margin9900 | €238,361 | €173,979 | €259,727 | €75,332 | -€18,341 | -€20,720 | -€18,998 | ▲ 8.3% |
| Operating profit (loss)9901 | €19,326 | -€28,789 | €44,746 | -€55,595 | -€70,729 | -€72,944 | -€70,949 | ▲ 2.7% |
| Financial income75/76B | - | - | - | €309 | €4 | €183 | €600 | ▲ 228% |
| Recurring financial income75 | €825 | €655 | €161 | €309 | €4 | €183 | €600 | ▲ 228% |
| Financial charges65/66B | - | - | - | €540 | €262 | €281 | €336 | ▲ 19.3% |
| Recurring financial charges65 | €5,302 | €3,886 | €2,033 | €540 | €262 | €281 | €336 | ▲ 19.3% |
| Profit (loss) for the period before taxes9903 | €14,849 | -€32,020 | €42,874 | -€55,827 | -€70,987 | -€73,042 | -€70,684 | ▲ 3.2% |
| Income taxes67/77 | €4,800 | €103 | €5,693 | - | - | - | - | - |
| Profit (loss) for the period9904 | €10,049 | -€32,123 | €37,181 | -€55,827 | -€70,987 | -€73,042 | -€70,684 | ▲ 3.2% |
| Transfer from tax-exempt reserves789 | - | - | - | - | - | - | €47,200 | - |
| Profit (loss) for the period to be appropriated9905 | €10,049 | -€16,623 | €37,181 | -€55,827 | -€70,987 | -€73,042 | -€23,484 | ▲ 67.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €940,996 | €840,204 | €750,485 | €625,416 | €551,698 | €475,429 | €397,744 | ▼ 16.3% |
| Fixed assets21/28 | €595,540 | €540,519 | €484,217 | €430,147 | €385,204 | €343,633 | €302,751 | ▼ 11.9% |
| Tangible fixed assets22/27 | €595,540 | €540,519 | €484,217 | €430,147 | €385,204 | €343,633 | €302,751 | ▼ 11.9% |
| Land and buildings22 | - | - | - | €323,010 | €302,709 | €282,409 | €262,108 | ▼ 7.2% |
| Plant, machinery and equipment23 | - | - | - | €92,534 | €71,069 | €50,374 | €29,793 | ▼ 40.9% |
| Furniture and vehicles24 | - | - | - | €14,603 | €11,426 | €10,850 | €10,850 | = |
| Current assets29/58 | €345,456 | €299,685 | €266,268 | €195,269 | €166,493 | €131,796 | €94,993 | ▼ 27.9% |
| Stocks and contracts in progress3 | €108,339 | €96,554 | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €37,026 | €23,155 | €79,416 | €17,529 | €16,074 | €2,739 | €2,622 | ▼ 4.3% |
| Trade receivables40 | - | - | - | €1,393 | - | €1,665 | €1,548 | ▼ 7.0% |
| Other amounts receivable41 | - | - | - | €16,136 | €16,074 | €1,074 | €1,074 | = |
| Current investments50/53 | €179,075 | €155,367 | €135,366 | €135,367 | €117,368 | €105,051 | €82,632 | ▼ 21.3% |
| Cash at bank and in hand54/58 | €19,674 | €24,506 | €51,486 | €42,373 | €32,545 | €24,006 | €9,740 | ▼ 59.4% |
| Deferred charges and accrued income490/1 | - | - | - | - | €506 | - | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €940,996 | €840,204 | €750,485 | €625,416 | €551,698 | €475,429 | €397,744 | ▼ 16.3% |
| Equity10/15 | €394,082 | €361,959 | €399,141 | €343,314 | €272,327 | €199,285 | €128,601 | ▼ 35.5% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €375,482 | €343,359 | €380,541 | €324,714 | €253,727 | €180,685 | €110,001 | ▼ 39.1% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - |
| Tax-exempt reserves132 | - | - | - | €47,200 | €47,200 | €47,200 | - | - |
| Distributable reserves133 | - | - | - | €275,654 | €204,667 | €133,485 | €110,001 | ▼ 17.6% |
| Amounts payable17/49 | €546,914 | €478,245 | €351,344 | €282,102 | €279,370 | €276,144 | €269,144 | ▼ 2.5% |
| Amounts payable after more than one year17 | €67,307 | €22,691 | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €479,020 | €446,558 | €322,311 | €282,064 | €279,370 | €276,144 | €269,144 | ▼ 2.5% |
| Trade debts44 | €46,390 | €34,067 | €8,385 | €81 | €1,156 | €2,420 | €5,496 | ▲ 127% |
| Suppliers440/4 | - | - | - | €81 | €1,156 | €2,420 | €5,496 | ▲ 127% |
| Advances received on contracts in progress46 | - | - | - | €7,877 | €11,413 | €7,877 | €7,877 | = |
| Taxes, remuneration and social security45 | - | - | - | €12,003 | €1,710 | €756 | €1,680 | ▲ 122% |
| Taxes450/3 | - | - | - | €7,906 | €1,710 | €756 | €1,680 | ▲ 122% |
| Remuneration and social security454/9 | - | - | - | €4,098 | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €262,103 | €265,091 | €265,091 | €254,091 | ▼ 4.1% |
| Accrued charges and deferred income492/3 | - | - | - | €37 | - | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,049 | -€32,123 | €37,181 | -€55,827 | -€70,987 | -€73,042 | -€70,684 | ▲ 3.2% |
| + Depreciation and write-downs630 | €66,183 | €61,266 | €60,911 | €54,071 | €44,942 | €41,572 | €40,882 | ▼ 1.7% |
| Operating cash flow (approximation) | €76,232 | €29,143 | €98,092 | -€1,756 | -€26,045 | -€31,471 | -€29,802 | ▲ 5.3% |
| Investment in fixed assets (approximation) | - | -€6,245 | -€4,609 | -€0 | €0 | €0 | €0 | - |
| Change in cash | - | €4,832 | €26,980 | -€9,113 | -€9,828 | -€8,539 | -€14,266 | ▼ 67.1% |
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, 5,831 companies had the same profile as ''HYDROTHAN'' has now. Two years later, 84.6% were still going and 1.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ''HYDROTHAN'' itself: 1.0% 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 5,831 companies, not a prediction for ''HYDROTHAN''. 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 29 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 01-07-2025 | micro format | 05-02-2026 | 2026-00033254 | |
| 01-07-2024 | micro format | 05-02-2025 | 2025-00028524 | |
| 01-07-2023 | micro format | 26-02-2024 | 2024-00034143 | |
| 01-07-2022 | full format | 28-02-2023 | 2023-00032519 | |
| 01-07-2021 | full format | 02-03-2022 | 2022-06900492 | |
| 01-07-2020 | full format | 01-03-2021 | 2021-06900065 | |
| 01-07-2019 | full format | 29-02-2020 | 2020-06200229 | |
| 01-07-2018 | full format | 26-02-2019 | 2019-05700533 | |
| 01-07-2017 | full format | 27-02-2018 | 2018-05600285 | |
| 01-07-2016 | full format | 28-02-2017 | 2017-05400042 |