iMind
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 15-04-2026 PDF all 20 filings
Turnover
≈ €160,000
Estimated: probably between €130,000 and €220,000
Total assets
€260,104▼ 1.0%
2024 · €262,657
Net result
€27,851▼ 5.0%
2024 · €29,327
Working capital
€180,186▼ 1.4%
2024 · €182,688
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€36,401
▼ 23.0%
2025
20192025
Net result
€27,851
▼ 5.0%
2025
middle half of the sector
20192025
Equity
€217,276
▲ 3.5%
2025
highest quarter of the sector
20192025
Total assets
€260,104
▼ 1.0%
2025
middle half of the sector
20192025
Debt
€42,828
▼ 18.8%
2025
20192025
Working capital
€180,186
▼ 1.4%
2025
highest quarter of the sector
20192025
Solvency
83.5%
▲ 3.6pp
2025
highest quarter of the sector
20192025
Current ratio
7.63
▲ 0.55
2025
highest quarter of the sector
20192025
Return on assets (ROA)
10.7%
▼ 0.5pp
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€65,050-€48,966▼ 24.7%€38,103▼ 22.2%€56,906▲ 49.3%€51,104▼ 10.2%€47,298▼ 7.4%€36,401▼ 23.0%
Net result€42,759-€28,303within the sector's middle half▼ 33.8%€21,796within the sector's middle half▼ 23.0%€45,705above the sector's middle half▲ 110%€30,980within the sector's middle half▼ 32.2%€29,327within the sector's middle half▼ 5.3%€27,851within the sector's middle half▼ 5.0%
Equity€207,649-€212,952above the sector's middle half▲ 2.6%€212,998above the sector's middle half=€178,119above the sector's middle half▼ 16.4%€209,098above the sector's middle half▲ 17.4%€209,925above the sector's middle half▲ 0.4%€217,276above the sector's middle half▲ 3.5%
Total assets€291,446-€303,473above the sector's middle half▲ 4.1%€282,479within the sector's middle half▼ 6.9%€247,067within the sector's middle half▼ 12.5%€272,078within the sector's middle half▲ 10.1%€262,657within the sector's middle half▼ 3.5%€260,104within the sector's middle half▼ 1.0%
Debt€83,798-€90,521▲ 8.0%€69,481▼ 23.2%€68,948▼ 0.8%€62,979▼ 8.7%€52,732▼ 16.3%€42,828▼ 18.8%
Working capital€176,860-€177,532above the sector's middle half▲ 0.4%€178,645above the sector's middle half▲ 0.6%€149,121above the sector's middle half▼ 16.5%€180,201above the sector's middle half▲ 20.8%€182,688above the sector's middle half▲ 1.4%€180,186above the sector's middle half▼ 1.4%
Solvency71.2%-70.2%within the sector's middle half▼ 1.1pp75.4%within the sector's middle half▲ 5.2pp72.1%within the sector's middle half▼ 3.3pp76.9%within the sector's middle half▲ 4.8pp79.9%within the sector's middle half▲ 3.1pp83.5%above the sector's middle half▲ 3.6pp
Current ratio7.38-5.12above the sector's middle half▼ 2.267.21above the sector's middle half▲ 2.095.40above the sector's middle half▼ 1.816.30above the sector's middle half▲ 0.907.08above the sector's middle half▲ 0.787.63above the sector's middle half▲ 0.55
Return on assets (ROA)14.7%-9.3%within the sector's middle half▼ 5.3pp7.7%within the sector's middle half▼ 1.6pp18.5%within the sector's middle half▲ 10.8pp11.4%within the sector's middle half▼ 7.1pp11.2%within the sector's middle half▼ 0.2pp10.7%within the sector's middle half▼ 0.5pp
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 23% lower than in 2024 and the lowest since 2021. It is the third fall in a row.
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 €260,104
Fixed assets
€52,748 ▲ 5.6%
Current assets
€207,356 ▼ 2.5%
Equity and liabilities €260,104
Equity
€217,276 ▲ 3.5%
Debt
€42,828 ▼ 18.8%
Debt's share of the balance-sheet total falls from 20.1% to 16.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€44,572▼
2024 · €55,855
Cash flow
€36,022▼
2024 · €37,883
Debt to equity
0.20▼
2024 · 0.25
ROE
12.8%▼
2024 · 14.0%
Interest coverage
8.12▲
2024 · 7.61
Debt ≤ 1 year
€27,170▼
2024 · €30,035
Debt > 1 year
€13,334▼
2024 · €20,105
Income taxes
€11,607▼
2024 · €13,308
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €5,389 | €1,008 | €4,857 | €620 | €10,985 |
| Depreciation and write-downs of the year | €13,184 | €12,003 | €11,067 | €8,556 | €8,171 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €3,281 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,393 | €12,549 | €13,184 | €12,003 | €11,067 | €8,556 | €8,171 | ▼ 4.5% |
| Other operating charges640/8 | - | - | €1,266 | €1,604 | €1,349 | €1,472 | €2,773 | ▲ 88.4% |
| Gross operating margin9900 | €79,496 | €62,844 | €52,553 | €70,513 | €63,520 | €57,326 | €47,344 | ▼ 17.4% |
| Operating profit (loss)9901 | €65,050 | €48,966 | €38,103 | €56,906 | €51,104 | €47,298 | €36,401 | ▼ 23.0% |
| Financial income75/76B | - | - | €1,582 | €15,169 | €1,103 | €2,675 | €8,547 | ▲ 219% |
| Recurring financial income75 | €3,517 | €1,307 | €1,582 | €15,169 | €1,103 | €2,675 | €8,547 | ▲ 219% |
| Financial charges65/66B | - | - | €1,890 | €1,431 | €6,753 | €7,340 | €5,490 | ▼ 25.2% |
| Recurring financial charges65 | €2,402 | €2,061 | €1,890 | €1,431 | €6,753 | €7,340 | €5,490 | ▼ 25.2% |
| Profit (loss) for the period before taxes9903 | €66,165 | €48,212 | €37,795 | €70,644 | €45,453 | €42,634 | €39,458 | ▼ 7.4% |
| Income taxes67/77 | €23,406 | €19,909 | €15,999 | €24,939 | €14,474 | €13,308 | €11,607 | ▼ 12.8% |
| Profit (loss) for the period9904 | €42,759 | €28,303 | €21,796 | €45,705 | €30,980 | €29,327 | €27,851 | ▼ 5.0% |
| Transfer from tax-exempt reserves789 | - | - | €5,389 | €13,574 | €0 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €42,759 | €28,303 | €27,184 | €59,280 | €30,980 | €29,327 | €27,851 | ▼ 5.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €291,446 | €303,473 | €282,479 | €247,067 | €272,078 | €262,657 | €260,104 | ▼ 1.0% |
| Fixed assets21/28 | €86,874 | €82,872 | €75,076 | €64,081 | €57,871 | €49,934 | €52,748 | ▲ 5.6% |
| Tangible fixed assets22/27 | €86,874 | €82,872 | €75,076 | €64,081 | €57,871 | €49,934 | €52,748 | ▲ 5.6% |
| Land and buildings22 | - | - | €1,859 | €1,627 | €1,394 | €1,162 | €930 | ▼ 20.0% |
| Plant, machinery and equipment23 | - | - | €61,221 | €55,722 | €50,223 | €45,196 | €40,757 | ▼ 9.8% |
| Furniture and vehicles24 | - | - | €11,996 | €6,732 | €2,860 | €1,802 | €10,906 | ▲ 505% |
| Leasing and similar rights25 | - | - | - | - | €3,393 | €1,774 | €155 | ▼ 91.2% |
| Current assets29/58 | €204,572 | €220,601 | €207,403 | €182,986 | €214,207 | €212,723 | €207,356 | ▼ 2.5% |
| Amounts receivable within one year40/41 | €42,841 | €39,297 | €33,188 | €71,132 | €70,666 | €73,801 | €88,748 | ▲ 20.3% |
| Trade receivables40 | - | - | €28,370 | €47,665 | €41,218 | €37,785 | €32,085 | ▼ 15.1% |
| Other amounts receivable41 | - | - | €4,818 | €23,467 | €29,448 | €36,016 | €56,663 | ▲ 57.3% |
| Current investments50/53 | €125,923 | €150,607 | €144,965 | €81,776 | €107,513 | €102,066 | €78,431 | ▼ 23.2% |
| Cash at bank and in hand54/58 | €31,986 | €26,200 | €25,055 | €24,983 | €31,124 | €31,584 | €34,780 | ▲ 10.1% |
| Deferred charges and accrued income490/1 | - | - | €4,195 | €5,095 | €4,904 | €5,272 | €5,397 | ▲ 2.4% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €291,446 | €303,473 | €282,479 | €247,067 | €272,078 | €262,657 | €260,104 | ▼ 1.0% |
| Equity10/15 | €207,649 | €212,952 | €212,998 | €178,119 | €209,098 | €209,925 | €217,276 | ▲ 3.5% |
| Contributions10/11 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €195,249 | €200,552 | €200,598 | €165,719 | €196,698 | €197,525 | €204,876 | ▲ 3.7% |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | €1,860 | €0 | - | - |
| Reserves not available under the articles1311 | - | - | €1,860 | €1,860 | €1,860 | €0 | - | - |
| Tax-exempt reserves132 | - | - | €13,574 | €0 | - | - | - | - |
| Distributable reserves133 | - | - | €185,163 | €163,859 | €194,838 | €197,525 | €204,876 | ▲ 3.7% |
| Profit (loss) carried forward14 | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €83,798 | €90,521 | €69,481 | €68,948 | €62,979 | €52,732 | €42,828 | ▼ 18.8% |
| Amounts payable after more than one year17 | €53,487 | €45,333 | €38,933 | €32,534 | €28,046 | €20,105 | €13,334 | ▼ 33.7% |
| Financial debts170/4 | - | - | €38,933 | €32,534 | €28,046 | €20,105 | €13,334 | ▼ 33.7% |
| Amounts payable within one year42/48 | €27,713 | €43,069 | €28,757 | €33,865 | €34,005 | €30,035 | €27,170 | ▼ 9.5% |
| Current portion of amounts payable after more than one year42 | - | - | €6,400 | €6,400 | €7,938 | €7,941 | €6,771 | ▼ 14.7% |
| Financial debts43 | - | - | €6,692 | €6,689 | €6,753 | €6,779 | €6,749 | ▼ 0.4% |
| Credit institutions430/8 | - | - | €6,692 | €6,689 | €6,753 | €6,779 | €6,749 | ▼ 0.4% |
| Trade debts44 | €775 | €4,750 | €3,203 | €4,420 | €4,069 | €3,018 | €1,093 | ▼ 63.8% |
| Suppliers440/4 | - | - | €3,203 | €4,420 | €4,069 | €3,018 | €1,093 | ▼ 63.8% |
| Taxes, remuneration and social security45 | - | - | €12,462 | €16,357 | €15,245 | €12,297 | €12,557 | ▲ 2.1% |
| Taxes450/3 | - | - | €12,462 | €16,357 | €15,245 | €12,297 | €12,557 | ▲ 2.1% |
| Accrued charges and deferred income492/3 | - | - | €1,790 | €2,550 | €928 | €2,592 | €2,324 | ▼ 10.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €42,759 | €28,303 | €21,796 | €45,705 | €30,980 | €29,327 | €27,851 | ▼ 5.0% |
| + Depreciation and write-downs630 | €13,393 | €12,549 | €13,184 | €12,003 | €11,067 | €8,556 | €8,171 | ▼ 4.5% |
| Operating cash flow (approximation) | €56,152 | €40,852 | €34,980 | €57,709 | €42,047 | €37,883 | €36,022 | ▼ 4.9% |
| Investment in fixed assets (approximation) | - | -€8,547 | -€5,389 | -€1,008 | -€4,857 | -€620 | -€10,985 | ▼ 1,672% |
| Change in cash | - | -€5,785 | -€1,146 | -€71 | €6,141 | €460 | €3,196 | ▲ 594% |
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, 31,368 companies had the same profile as iMind has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of iMind 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 31,368 companies, not a prediction for iMind. 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 20 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 15-04-2026 | 2026-00079933 | |
| 30-09-2024 | micro format | 23-04-2025 | 2025-00084956 | |
| 30-09-2023 | micro format | 20-03-2024 | 2024-00047622 | |
| 30-09-2022 | micro format | 13-04-2023 | 2023-00058285 | |
| 30-09-2021 | micro format | 15-04-2022 | 2022-20003931 | |
| 30-09-2020 | micro format | 30-03-2021 | 2021-08800279 | |
| 30-09-2019 | micro format | 30-03-2020 | 2020-07700454 | |
| 30-09-2018 | micro format | 29-03-2019 | 2019-08300482 | |
| 30-09-2017 | micro format | 26-04-2018 | 2018-10600410 | |
| 30-09-2016 | abbreviated format | 31-03-2017 | 2017-07700010 |