I.DEEDS
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 23-06-2026 at the NBB all 34 filings
Turnover
≈ €3.5m
Estimated: probably between €2.7m and €4.2m
EBIT margin
Not included in this filing
Net result
€262,079▲ 81.2%
2024 · €144,626
Working capital
€548,972▼ 43.4%
2024 · €970,378
In the rankings
#8 oldest company in Sint-Martens-Latem, Telecoms and IT sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€333,595
▲ 60.8%
2025
20182025
Net result
€262,079
▲ 81.2%
2025
highest quarter of the sector
20182025
Equity
€178,200
▼ 1.1%
2025
middle half of the sector
20182025
Total assets
€1.5m
▼ 29.2%
2025
middle half of the sector
20182025
Debt
€1.3m
▼ 31.9%
2025
20182025
Working capital
€548,972
▼ 43.4%
2025
middle half of the sector
20182025
Solvency
12.3%
▲ 3.5pp
2025
middle half of the sector
20182025
Current ratio
1.67
▼ 0.33
2025
middle half of the sector
20182025
Return on assets (ROA)
18.0%
▲ 11.0pp
2025
highest quarter of the sector
20182025
Staff (FTE)
17.9
▲ 0.6%
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€262-€0.4m▲ 1,660×€0.3m▼ 40.9%€0.4m▲ 70.9%€0.1m▼ 66.4%-€0.2m€0.2m€0.3m▲ 60.8%
Net result-€0.03m-€0.3m€0.1mabove the sector's middle half▼ 52.0%€0.3mabove the sector's middle half▲ 118%€0.07mwithin the sector's middle half▼ 79.2%-€0.2mbelow the sector's middle half€0.1mabove the sector's middle half€0.3mabove the sector's middle half▲ 81.2%
Equity€0.1m-€0.3m▲ 194%€0.4mwithin the sector's middle half▲ 52.8%€0.6mabove the sector's middle half▲ 46.6%€0.7mabove the sector's middle half▲ 10.7%€0.5mwithin the sector's middle half▼ 31.0%€0.2mwithin the sector's middle half▼ 62.9%€0.2mwithin the sector's middle half▼ 1.1%
Total assets€1.1m-€1.1m▲ 5.2%€1.4mabove the sector's middle half▲ 23.7%€1.7mabove the sector's middle half▲ 22.9%€1.4mwithin the sector's middle half▼ 14.5%€3.1mabove the sector's middle half▲ 116%€2.1mabove the sector's middle half▼ 34.1%€1.5mwithin the sector's middle half▼ 29.2%
Debt€0.9m-€0.8m▼ 14.3%€0.9m▲ 17.4%€1.0m▲ 11.9%€0.7m▼ 29.8%€2.6m▲ 258%€1.9m▼ 28.7%€1.3m▼ 31.9%
Working capital-€0.2m--€0.1m▲ 35.2%-€0.02mbelow the sector's middle half▲ 85.5%€0.2mwithin the sector's middle half€0.3mwithin the sector's middle half▲ 46.0%€1.2mabove the sector's middle half▲ 364%€1.0mabove the sector's middle half▼ 22.1%€0.5mwithin the sector's middle half▼ 43.4%
Solvency9.2%-25.7%▲ 16.5pp31.7%within the sector's middle half▲ 6.1pp37.8%within the sector's middle half▲ 6.1pp48.9%within the sector's middle half▲ 11.1pp15.6%below the sector's middle half▼ 33.3pp8.8%below the sector's middle half▼ 6.8pp12.3%within the sector's middle half▲ 3.5pp
Current ratio0.71-0.79▲ 0.080.98below the sector's middle half▲ 0.191.20within the sector's middle half▲ 0.231.43within the sector's middle half▲ 0.231.86within the sector's middle half▲ 0.432.00within the sector's middle half▲ 0.141.67within the sector's middle half▼ 0.33
Return on assets (ROA)-3.1%-28.2%▲ 31.4pp11.0%within the sector's middle half▼ 17.3pp19.4%above the sector's middle half▲ 8.5pp4.7%within the sector's middle half▼ 14.7pp-7.0%below the sector's middle half▼ 11.7pp7.0%within the sector's middle half▲ 14.1pp18.0%above the sector's middle half▲ 11.0pp
Staff (FTE)15.9-16.3▲ 2.5%16.1above the sector's middle half▼ 1.2%18.8above the sector's middle half▲ 16.8%17.6above the sector's middle half▼ 6.4%15above the sector's middle half▼ 14.8%17.8above the sector's middle half▲ 18.7%17.9within the sector's middle half▲ 0.6%
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). 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 61% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
Large changes and their cause
- 2025 Net result +81% on 2024. The accounts now follow the full format, last year the abbreviated format.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.5m
Fixed assets
€79,652 ▼ 29.2%
Current assets
€1.4m ▼ 29.2%
Equity and liabilities €1.5m
Equity
€178,200 ▼ 1.1%
Debt
€1.3m ▼ 31.9%
Debt's share of the balance-sheet total falls from 91.2% to 87.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€371,259▲
2024 · €339,962
Cash flow
€299,742▲
2024 · €277,172
Debt to equity
7.15▼
2024 · 10.39
ROE
147.1%▲
2024 · 80.2%
Interest coverage
60.68▲
2024 · 29.81
Debt ≤ 1 year
€824,004▼
2024 · €969,655
Income taxes
€65,398▲
2024 · €51,387
Staff costs
€1.6m▲
2024 · €1.6m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 21 | 16 | 19 | 18 | 17 |
| full-time | 20 | 14 | 15 | 16 | 15 |
| part-time | 1 | 2 | 4 | 2 | 2 |
| in full-time equivalents | 20.5 | 15.7 | 18.2 | 17.6 | 16.6 |
| Average over the year, in full-time equivalents | 18.8 | 17.6 | 15 | 17.8 | 17.9 |
| On a permanent contract | 21 | 16 | 19 | 18 | 17 |
| Joined | 10 | 2 | 7 | 2 | 3 |
| Left | 7 | 7 | 2 | 3 | 4 |
| Training hours | 632 | - | - | 8 | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €120,000 | €250,000 | €60,909 | €79,158 | €241,672 |
| Pledge on the business | - | - | €415,000 | €415,000 | €415,000 |
| Mandates to pledge the business | €250,000 | €250,000 | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €118,266 | €33,546 | €16,835 | €758 | €2,882 |
| Intangible fixed assets | €137,767 | €148,546 | €33,003 | - | €2,860 |
| Depreciation and write-downs of the year | €219,028 | €198,780 | €187,635 | €132,546 | €37,663 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2023 · 2 entries · €6,666 awarded · €6,666 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2023 | 1 | €0 | €2,100 |
| 2022 | 1 | €6,666 | €4,566 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0.05m | €0.005m | €0.06m | €0.02m | - | - |
| Remuneration, social security and pensions62 | - | - | - | €1.7m | €1.6m | €1.4m | €1.6m | €1.6m | ▲ 0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | €0.04m | ▼ 71.6% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | €0 | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €0.02m | €0.01m | €0.009m | €0.01m | €0.01m | ▲ 28.5% |
| Non-recurring operating charges66A | - | - | - | €0.001m | €0 | €0.03m | €0.2m | €466 | ▼ 99.7% |
| Gross operating margin9900 | €1.4m | €2.0m | €1.9m | €2.4m | €1.9m | €1.4m | €2.1m | €2.0m | ▼ 5.9% |
| Operating profit (loss)9901 | €262 | €0.4m | €0.3m | €0.4m | €0.1m | -€0.2m | €0.2m | €0.3m | ▲ 60.8% |
| Financial income75/76B | - | - | - | €0.001m | €0.001m | €4 | - | - | - |
| Recurring financial income75 | €0.005m | €467 | €356 | €0.001m | €0.001m | €4 | - | - | - |
| Financial charges65/66B | - | - | - | €0.03m | €0.03m | €0.01m | €0.01m | €0.006m | ▼ 46.3% |
| Recurring financial charges65 | €0.03m | €0.03m | €0.04m | €0.03m | €0.03m | €0.01m | €0.01m | €0.006m | ▼ 46.3% |
| Profit (loss) for the period before taxes9903 | -€0.03m | €0.4m | €0.2m | €0.4m | €0.1m | -€0.2m | €0.2m | €0.3m | ▲ 67.1% |
| Income taxes67/77 | €0.005m | €0.09m | €0.07m | €0.08m | €0.05m | €0.01m | €0.05m | €0.07m | ▲ 27.3% |
| Profit (loss) for the period9904 | -€0.03m | €0.3m | €0.1m | €0.3m | €0.07m | -€0.2m | €0.1m | €0.3m | ▲ 81.2% |
| Transfer from tax-exempt reserves789 | - | - | - | €0.006m | €0 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€0.03m | €0.3m | €0.1m | €0.3m | €0.07m | -€0.2m | €0.1m | €0.3m | ▲ 81.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.1m | €1.1m | €1.4m | €1.7m | €1.4m | €3.1m | €2.1m | €1.5m | ▼ 29.2% |
| Fixed assets21/28 | €0.5m | €0.6m | €0.6m | €0.6m | €0.6m | €0.4m | €0.1m | €0.08m | ▼ 29.2% |
| Intangible fixed assets21 | €0.4m | €0.5m | €0.4m | €0.4m | €0.4m | €0.3m | €0.02m | €0.02m | ▼ 24.6% |
| Tangible fixed assets22/27 | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | €0.1m | €0.09m | €0.06m | ▼ 30.3% |
| Furniture and vehicles24 | - | - | - | €0.1m | €0.1m | €0.09m | €0.07m | €0.05m | ▼ 22.8% |
| Other tangible fixed assets26 | - | - | - | €0.07m | €0.06m | €0.04m | €0.02m | €0.009m | ▼ 56.6% |
| Current assets29/58 | €0.5m | €0.5m | €0.8m | €1.1m | €0.9m | €2.7m | €1.9m | €1.4m | ▼ 29.2% |
| Amounts receivable after more than one year29 | - | - | - | - | - | - | €0.09m | - | - |
| Trade receivables290 | - | - | - | - | - | - | €0.09m | - | - |
| Stocks and contracts in progress3 | €0.008m | €0.01m | €0.04m | €0.06m | €0.06m | €0.03m | €1 | - | - |
| Stocks30/36 | - | - | - | €0.06m | €0.06m | €0.03m | €1 | - | - |
| Amounts receivable within one year40/41 | €0.4m | €0.4m | €0.7m | €0.9m | €0.7m | €0.9m | €0.9m | €0.7m | ▼ 19.9% |
| Trade receivables40 | - | - | - | €0.8m | €0.6m | €0.9m | €0.8m | €0.7m | ▼ 20.9% |
| Other amounts receivable41 | - | - | - | €0.06m | €0.05m | €0.03m | €0.04m | €0.04m | ▼ 1.1% |
| Cash at bank and in hand54/58 | €0.1m | €0.06m | €0.05m | €0.1m | €0.2m | €1.0m | €0.3m | €0.3m | ▲ 1.7% |
| Deferred charges and accrued income490/1 | - | - | - | €0.04m | €0.02m | €0.8m | €0.7m | €0.4m | ▼ 44.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.1m | €1.1m | €1.4m | €1.7m | €1.4m | €3.1m | €2.1m | €1.5m | ▼ 29.2% |
| Equity10/15 | €0.1m | €0.3m | €0.4m | €0.6m | €0.7m | €0.5m | €0.2m | €0.2m | ▼ 1.1% |
| Contributions10/11 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Capital10 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Issued capital100 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Reserves13 | €0.01m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Non-distributable reserves130/1 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Legal reserve130 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Tax-exempt reserves132 | - | - | - | €0 | - | - | - | - | - |
| Profit (loss) carried forward14 | -€0.08m | €0.1m | €0.2m | €0.5m | €0.5m | €0.3m | €0.002m | - | - |
| Provisions and deferred taxes16 | €0.03m | €0.03m | €0 | - | - | - | - | - | - |
| Amounts payable17/49 | €0.9m | €0.8m | €0.9m | €1.0m | €0.7m | €2.6m | €1.9m | €1.3m | ▼ 31.9% |
| Amounts payable after more than one year17 | €0.1m | €0.06m | €0.02m | €0.08m | €0.06m | €0.04m | €0.02m | - | - |
| Financial debts170/4 | - | - | - | €0.08m | €0.06m | €0.04m | €0.02m | - | - |
| Amounts payable within one year42/48 | €0.7m | €0.7m | €0.8m | €0.9m | €0.6m | €1.4m | €1.0m | €0.8m | ▼ 15.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.04m | €0.02m | €0.02m | €0.02m | €0.02m | ▲ 1.5% |
| Financial debts43 | - | - | - | €0 | €0.2m | - | €0.04m | €0.2m | ▲ 478% |
| Credit institutions430/8 | - | - | - | €0 | €0.2m | - | €0.04m | €0.2m | ▲ 478% |
| Trade debts44 | €0.2m | €0.1m | €0.2m | €0.4m | €0.2m | €1.1m | €0.3m | €0.2m | ▼ 38.6% |
| Suppliers440/4 | - | - | - | €0.4m | €0.2m | €1.1m | €0.3m | €0.2m | ▼ 38.6% |
| Taxes, remuneration and social security45 | - | - | - | €0.3m | €0.2m | €0.3m | €0.3m | €0.3m | ▼ 6.9% |
| Taxes450/3 | - | - | - | €0.1m | €0.09m | €0.1m | €0.09m | €0.08m | ▼ 4.3% |
| Remuneration and social security454/9 | - | - | - | €0.2m | €0.1m | €0.2m | €0.2m | €0.2m | ▼ 8.0% |
| Other amounts payable47/48 | - | - | - | €0.1m | €0 | €0.01m | €0.3m | €0.1m | ▼ 62.0% |
| Accrued charges and deferred income492/3 | - | - | - | €0.05m | €0.05m | €1.1m | €0.9m | €0.5m | ▼ 48.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€33,042 | €312,379 | €149,961 | €327,144 | €68,052 | -€218,466 | €144,626 | €262,079 | ▲ 81.2% |
| + Depreciation and write-downs630 | €155,680 | €196,089 | €192,979 | €219,028 | €198,780 | €187,635 | €132,546 | €37,663 | ▼ 71.6% |
| Operating cash flow (approximation) | €122,639 | €508,468 | €342,940 | €546,172 | €266,832 | -€30,831 | €277,172 | €299,742 | ▲ 8.1% |
| Investment in fixed assets (approximation) | - | -€255,966 | -€170,786 | -€245,535 | -€163,725 | -€54,278 | €172,263 | -€4,882 | - |
| Change in cash | - | -€41,674 | -€5,131 | €55,052 | €44,003 | €797,697 | -€671,559 | €4,700 | - |
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, 2,613 companies had the same profile as I.DEEDS has now. Two years later, 97.3% were still going and 0.7% had gone bankrupt.
- Small
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
97.3%
was still going
2.0%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of I.DEEDS 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 2,613 companies, not a prediction for I.DEEDS. 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 34 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 23-06-2026 | 2026-00195766 | |
| 31-12-2024 | abbreviated format | 02-08-2025 | 2025-00357371 | |
| 31-12-2023 | abbreviated format | 29-07-2024 | 2024-00298313 | |
| 31-12-2022 | abbreviated format | 16-06-2023 | 2023-00140769 | |
| 31-12-2021 | abbreviated format | 20-07-2022 | 2022-20210771 | |
| 31-12-2020 | abbreviated format | 19-06-2021 | 2021-22300367 | |
| 31-12-2019 | abbreviated format | 10-06-2020 | 2020-15800176 | |
| 31-12-2018 | abbreviated format | 24-07-2019 | 2019-37500013 | |
| 31-12-2017 | abbreviated format | 13-07-2018 | 2018-33500101 | |
| 31-12-2016 | abbreviated format | 06-07-2017 | 2017-28800445 |