III-CO
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 29-04-2026 PDF all 16 filings
Every figure per financial year
The operating result for 2025 is a loss of €1,079, larger than the loss of €672 in 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €762 | €348 | €384 | €387 | ▲ 0.8% |
| Other operating charges640/8 | - | - | €645 | €563 | €127 | €287 | €692 | ▲ 141% |
| Gross operating margin9900 | -€688 | - | -€121 | -€121 | - | - | - | - |
| Operating profit (loss)9901 | -€760 | -€442 | -€766 | -€1,446 | -€475 | -€672 | -€1,079 | ▼ 60.7% |
| Financial charges65/66B | - | - | €145 | €153 | €167 | €160 | €164 | ▲ 2.8% |
| Recurring financial charges65 | €133 | €140 | €145 | €153 | €167 | €160 | €164 | ▲ 2.8% |
| Profit (loss) for the period before taxes9903 | -€893 | -€582 | -€911 | -€1,599 | -€642 | -€831 | -€1,243 | ▼ 49.6% |
| Profit (loss) for the period9904 | -€893 | -€582 | -€911 | -€1,599 | -€642 | -€831 | -€1,243 | ▼ 49.6% |
| Profit (loss) for the period to be appropriated9905 | -€893 | -€582 | -€911 | -€1,599 | -€642 | -€831 | -€1,243 | ▼ 49.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €279,660 | €279,662 | €279,381 | €279,444 | €279,605 | €279,359 | €279,661 | ▲ 0.1% |
| Fixed assets21/28 | €277,595 | €277,595 | €277,595 | €277,595 | €277,595 | €277,595 | €277,595 | = |
| Tangible fixed assets22/27 | €277,595 | €277,595 | €277,595 | €277,595 | €277,595 | €277,595 | €277,595 | = |
| Land and buildings22 | - | - | €277,595 | €277,595 | €277,595 | €277,595 | €277,595 | = |
| Current assets29/58 | €2,065 | €2,067 | €1,786 | €1,848 | €2,009 | €1,763 | €2,065 | ▲ 17.1% |
| Amounts receivable within one year40/41 | €2,038 | €2,022 | €1,652 | €1,652 | €1,652 | €1,652 | €1,652 | = |
| Other amounts receivable41 | - | - | €1,652 | €1,652 | €1,652 | €1,652 | €1,652 | = |
| Cash at bank and in hand54/58 | €27 | €45 | €133 | €196 | €357 | €111 | €413 | ▲ 273% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €279,660 | €279,662 | €279,381 | €279,444 | €279,605 | €279,359 | €279,661 | ▲ 0.1% |
| Equity10/15 | €33,419 | €32,837 | €31,926 | €30,327 | €29,686 | €28,855 | €27,611 | ▼ 4.3% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Capital10 | - | - | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Issued capital100 | - | - | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Profit (loss) carried forward14 | €13,419 | €12,837 | €11,926 | €10,327 | €9,686 | €8,855 | €7,611 | ▼ 14.0% |
| Amounts payable17/49 | €246,241 | €246,825 | €247,455 | €249,116 | €249,919 | €250,504 | €252,049 | ▲ 0.6% |
| Amounts payable within one year42/48 | €245,855 | €246,455 | €247,455 | €249,116 | €249,919 | €250,504 | €252,049 | ▲ 0.6% |
| Trade debts44 | - | - | - | €161 | - | - | €46 | - |
| Suppliers440/4 | - | - | - | €161 | - | - | €46 | - |
| Other amounts payable47/48 | - | - | €247,455 | €248,955 | €249,919 | €250,504 | €252,004 | ▲ 0.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€893 | -€582 | -€911 | -€1,599 | -€642 | -€831 | -€1,243 | ▼ 49.6% |
| Operating cash flow (approximation) | -€893 | -€582 | -€911 | -€1,599 | -€642 | -€831 | -€1,243 | ▼ 49.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €18 | €89 | €62 | €161 | -€246 | €302 | - |
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, 1,037 companies had the same profile as III-CO has now. Two years later, 93.8% were still going and 2.9% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency under 10%
- a small loss
Another 0.4% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of III-CO itself is lower: 0.5% within 12 months. It rests on far more data about III-CO than the profile alone.
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 1,037 companies, not a prediction for III-CO. 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 16 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 29-04-2026 | 2026-00093461 | |
| 30-09-2024 | abbreviated format | 05-05-2025 | 2025-00088307 | |
| 30-09-2023 | abbreviated format | 30-04-2024 | 2024-00083892 | |
| 30-09-2022 | abbreviated format | 25-04-2023 | 2023-00067184 | |
| 30-09-2021 | abbreviated format | 10-05-2022 | 2022-20027342 | |
| 30-09-2020 | abbreviated format | 22-04-2021 | 2021-11000128 | |
| 30-09-2019 | abbreviated format | 29-04-2020 | 2020-10300318 | |
| 30-09-2018 | abbreviated format | 29-04-2019 | 2019-11100336 | |
| 30-09-2017 | abbreviated format | 14-03-2018 | 2018-06900181 | |
| 30-09-2016 | abbreviated format | 23-02-2017 | 2017-05000510 |