IMPULSE
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 25-06-2026 at the NBB all 36 filings
Turnover
≈ €220,000
Estimated: probably between €120,000 and €400,000
Total assets
€14.6m▲ 0.4%
2024 · €14.5m
Net result
-€47,397▲ 94.3%
2024 · -€826,102
Working capital
€4.3m▲ 2.2%
2024 · €4.2m
In the rankings
#7 company by equity in Ronse, Wholesale and retail trade sector#10 company by total assets in Ronse, Wholesale and retail trade sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€146,705
▲ 18.9%
2025
20182025
Net result
-€47,397
▲ 94.3%
2025
lowest quarter of the sector
20182025
Equity
€11.0m
▼ 0.4%
2025
highest quarter of the sector
20182025
Total assets
€14.6m
▲ 0.4%
2025
highest quarter of the sector
20182025
Debt
€3.6m
▲ 3.2%
2025
20182025
Working capital
€4.3m
▲ 2.2%
2025
highest quarter of the sector
20182025
Solvency
75.4%
▼ 0.6pp
2025
highest quarter of the sector
20182025
Current ratio
2.21
▼ 0.01
2025
middle half of the sector
20182025
Return on assets (ROA)
-0.3%
▲ 5.4pp
2025
middle half of the sector
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.5m-€0.9m▲ 92.3%€0.05m▼ 94.1%€0.1m▲ 168%-€0.4m-€0.2m▲ 54.9%-€0.2m▼ 1.7%-€0.1m▲ 18.9%
Net result€0.3m-€0.6m▲ 95.9%€0.3mabove the sector's middle half▼ 52.9%€0.05mwithin the sector's middle half▼ 82.2%€9.0mabove the sector's middle half▲ 192×-€0.1mbelow the sector's middle half-€0.8mbelow the sector's middle half▼ 467%-€0.05mbelow the sector's middle half▲ 94.3%
Equity€2.1m-€2.7m▲ 26.9%€2.9mabove the sector's middle half▲ 10.0%€3.0mabove the sector's middle half▲ 1.6%€12.0mabove the sector's middle half▲ 304%€11.8mabove the sector's middle half▼ 1.2%€11.0mabove the sector's middle half▼ 7.0%€11.0mabove the sector's middle half▼ 0.4%
Total assets€3.1m-€3.9m▲ 25.0%€4.9mabove the sector's middle half▲ 28.3%€3.4mabove the sector's middle half▼ 31.3%€13.9mabove the sector's middle half▲ 309%€15.0mabove the sector's middle half▲ 8.5%€14.5mabove the sector's middle half▼ 3.7%€14.6mabove the sector's middle half▲ 0.4%
Debt€1.0m-€1.2m▲ 21.2%€2.0m▲ 68.9%€0.4m▼ 79.0%€1.9m▲ 342%€3.2m▲ 70.2%€3.5m▲ 8.5%€3.6m▲ 3.2%
Working capital-€0.04m-€0.6m€0.9mabove the sector's middle half▲ 57.3%€0.9mabove the sector's middle half▲ 3.4%€7.0mabove the sector's middle half▲ 675%€4.9mabove the sector's middle half▼ 30.0%€4.2mabove the sector's middle half▼ 13.9%€4.3mabove the sector's middle half▲ 2.2%
Solvency68.0%-69.0%▲ 1.0pp59.1%above the sector's middle half▼ 9.8pp87.5%above the sector's middle half▲ 28.4pp86.5%above the sector's middle half▼ 1.0pp78.8%above the sector's middle half▼ 7.7pp76.1%above the sector's middle half▼ 2.7pp75.4%above the sector's middle half▼ 0.6pp
Current ratio0.96-1.47▲ 0.511.44within the sector's middle half▼ 0.033.14above the sector's middle half▲ 1.714.77above the sector's middle half▲ 1.632.54within the sector's middle half▼ 2.232.22within the sector's middle half▼ 0.322.21within the sector's middle half▼ 0.01
Return on assets (ROA)9.3%-14.6%▲ 5.3pp5.4%within the sector's middle half▼ 9.2pp1.4%within the sector's middle half▼ 4.0pp65.1%above the sector's middle half▲ 63.7pp-1.0%within the sector's middle half▼ 66.0pp-5.7%below the sector's middle half▼ 4.7pp-0.3%within the sector's middle half▲ 5.4pp
Staff (FTE)0.2-0.2=0.2below the sector's middle half=0.2below the sector's middle half=
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). 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 a loss of €146,705, smaller than the loss of €180,932 in 2024.
Turnover and EBIT margin are not published. The abbreviated or 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 €14.6m
Fixed assets
€6.6m ▼ 2.0%
Current assets
€7.9m ▲ 2.6%
Equity and liabilities €14.6m
Equity
€11.0m ▼ 0.4%
Debt
€3.6m ▲ 3.2%
Debt's share of the balance-sheet total rises from 23.9% to 24.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€30,188▲
2024 · -€7,074
Cash flow
€129,496▲
2024 · -€652,244
Debt to equity
0.33▲
2024 · 0.31
ROE
-0.4%▲
2024 · -7.5%
Interest coverage
0.11▲
2024 · -0.02
Debt ≤ 1 year
€3.6m▲
2024 · €3.5m
Income taxes
€1,600▼
2024 · €10,159
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 |
|---|---|
| Average over the year, in full-time equivalents | 0.2 |
| Joined | 0 |
| Left | 1 |
Source: social balance sheet in the 2021 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €93,055 | €235,871 | €2.1m | €32,793 | €38,504 |
| Financial fixed assets | - | €3.8m | - | - | - |
| Depreciation and write-downs of the year | €76,005 | €90,106 | €152,286 | €173,858 | €176,893 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €0.009m | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.06m | €0.08m | €0.08m | €0.08m | €0.09m | €0.2m | €0.2m | €0.2m | ▲ 1.7% |
| Other operating charges640/8 | - | - | - | €0.01m | €0.03m | €0.02m | €0.02m | €0.02m | ▼ 1.0% |
| Gross operating margin9900 | €0.5m | €1.0m | €0.1m | €0.2m | -€0.3m | -€0.01m | €0.009m | €0.05m | ▲ 404% |
| Operating profit (loss)9901 | €0.5m | €0.9m | €0.05m | €0.1m | -€0.4m | -€0.2m | -€0.2m | -€0.1m | ▲ 18.9% |
| Financial income75/76B | - | - | - | €0.004m | €9.5m | €0.2m | €0.3m | €0.4m | ▲ 38.9% |
| Recurring financial income75 | €0.001m | €0.001m | €0.3m | €0.004m | €0.2m | €0.2m | €0.3m | €0.4m | ▲ 38.9% |
| Non-recurring financial income76B | - | - | - | - | €9.2m | - | - | - | - |
| Financial charges65/66B | - | - | - | €0.07m | €0.04m | €0.2m | €0.9m | €0.3m | ▼ 70.6% |
| Recurring financial charges65 | €0.02m | €0.02m | €0.02m | €0.07m | €0.03m | €0.2m | €0.3m | €0.3m | ▼ 10.5% |
| Non-recurring financial charges66B | - | - | - | - | €0.01m | - | €0.6m | - | - |
| Profit (loss) for the period before taxes9903 | €0.4m | €0.8m | €0.3m | €0.07m | €9.0m | -€0.1m | -€0.8m | -€0.05m | ▲ 94.4% |
| Income taxes67/77 | €0.1m | €0.3m | €0.02m | €0.03m | €0.002m | €0.001m | €0.01m | €0.002m | ▼ 84.3% |
| Profit (loss) for the period9904 | €0.3m | €0.6m | €0.3m | €0.05m | €9.0m | -€0.1m | -€0.8m | -€0.05m | ▲ 94.3% |
| Profit (loss) for the period to be appropriated9905 | €0.3m | €0.6m | €0.3m | €0.05m | €9.0m | -€0.1m | -€0.8m | -€0.05m | ▲ 94.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €3.1m | €3.9m | €4.9m | €3.4m | €13.9m | €15.0m | €14.5m | €14.6m | ▲ 0.4% |
| Fixed assets21/28 | €2.1m | €2.1m | €2.0m | €2.1m | €5.0m | €6.9m | €6.8m | €6.6m | ▼ 2.0% |
| Intangible fixed assets21 | €442 | - | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €1.1m | €1.0m | €1.0m | €1.0m | €1.1m | €3.1m | €3.0m | €2.8m | ▼ 4.7% |
| Land and buildings22 | - | - | - | €0.8m | €0.8m | €2.7m | €2.6m | €2.6m | ▼ 1.9% |
| Plant, machinery and equipment23 | - | - | - | €0.1m | €0.1m | €0.1m | €0.08m | €0.07m | ▼ 18.3% |
| Furniture and vehicles24 | - | - | - | €0.05m | €0.2m | €0.3m | €0.2m | €0.2m | ▼ 30.4% |
| Other tangible fixed assets26 | - | - | - | €0.002m | €312 | - | €0.01m | €0.01m | ▼ 10.8% |
| Financial fixed assets28 | €1.1m | €1.1m | €1.1m | €1.1m | €3.8m | €3.8m | €3.8m | €3.8m | = |
| Current assets29/58 | €0.9m | €1.8m | €2.9m | €1.3m | €8.9m | €8.1m | €7.7m | €7.9m | ▲ 2.6% |
| Amounts receivable after more than one year29 | - | - | - | €0.2m | €5.7m | €5.7m | €6.9m | €6.6m | ▼ 4.0% |
| Other amounts receivable291 | - | - | - | €0.2m | €5.7m | €5.7m | €6.9m | €6.6m | ▼ 4.0% |
| Stocks and contracts in progress3 | €0.2m | €0.2m | €0.2m | €0.2m | - | - | - | - | - |
| Stocks30/36 | - | - | - | €0.2m | - | - | - | - | - |
| Amounts receivable within one year40/41 | €0.1m | €0.05m | €1.3m | €0.07m | €0.3m | €1.5m | €0.1m | €0.6m | ▲ 433% |
| Trade receivables40 | - | - | - | €0.07m | - | €0.001m | €0.02m | €0.006m | ▼ 71.4% |
| Other amounts receivable41 | - | - | - | €0.004m | €0.3m | €1.5m | €0.09m | €0.6m | ▲ 555% |
| Cash at bank and in hand54/58 | €0.6m | €1.5m | €1.2m | €0.9m | €2.9m | €0.9m | €0.7m | €0.7m | ▼ 9.1% |
| Deferred charges and accrued income490/1 | - | - | - | €0.007m | €0.007m | €0.004m | €0.004m | €0.08m | ▲ 20× |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €3.1m | €3.9m | €4.9m | €3.4m | €13.9m | €15.0m | €14.5m | €14.6m | ▲ 0.4% |
| Equity10/15 | €2.1m | €2.7m | €2.9m | €3.0m | €12.0m | €11.8m | €11.0m | €11.0m | ▼ 0.4% |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Capital10 | - | - | - | €0.1m | - | - | - | - | - |
| Issued capital100 | - | - | - | €0.1m | - | - | - | - | - |
| Reserves13 | €1.9m | €2.4m | €2.4m | €2.4m | €11.8m | €11.7m | €10.8m | €10.8m | = |
| Non-distributable reserves130/1 | - | - | - | €0.01m | - | - | - | - | - |
| Legal reserve130 | - | - | - | €0.01m | - | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | = |
| Distributable reserves133 | - | - | - | €2.4m | €11.8m | €11.7m | €10.8m | €10.8m | = |
| Profit (loss) carried forward14 | €0.03m | €0.09m | €0.4m | €0.4m | €0.04m | €0.04m | €0.07m | €0.02m | ▼ 69.8% |
| Amounts payable17/49 | €1.0m | €1.2m | €2.0m | €0.4m | €1.9m | €3.2m | €3.5m | €3.6m | ▲ 3.2% |
| Amounts payable after more than one year17 | €0.001m | - | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €1.0m | €1.2m | €2.0m | €0.4m | €1.9m | €3.2m | €3.5m | €3.6m | ▲ 3.1% |
| Trade debts44 | €0.08m | €0.08m | €0.06m | €0.07m | €0.05m | €0.05m | €0.04m | €0.04m | ▼ 15.9% |
| Suppliers440/4 | - | - | - | €0.07m | €0.05m | €0.05m | €0.04m | €0.04m | ▼ 15.9% |
| Taxes, remuneration and social security45 | - | - | - | €0.05m | €0.04m | €0.07m | €0.08m | €0.08m | ▼ 10.4% |
| Taxes450/3 | - | - | - | €0.05m | €0.04m | €0.07m | €0.08m | €0.08m | ▼ 10.4% |
| Remuneration and social security454/9 | - | - | - | €29 | - | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €0.3m | €1.8m | €3.1m | €3.3m | €3.5m | ▲ 3.7% |
| Accrued charges and deferred income492/3 | - | - | - | €400 | €0.009m | - | - | €0.002m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.3m | €0.6m | €0.3m | €0.05m | €9.0m | -€0.1m | -€0.8m | -€0.05m | ▲ 94.3% |
| + Depreciation and write-downs630 | €0.06m | €0.08m | €0.08m | €0.08m | €0.09m | €0.2m | €0.2m | €0.2m | ▲ 1.7% |
| Operating cash flow (approximation) | €0.4m | €0.6m | €0.3m | €0.1m | €9.1m | €0.007m | -€0.7m | €0.1m | - |
| Investment in fixed assets (approximation) | - | -€0.04m | -€0.02m | -€0.09m | -€3.0m | -€2.1m | -€0.03m | -€0.04m | ▼ 17.4% |
| Change in cash | - | €0.9m | -€0.3m | -€0.3m | €1.9m | -€2.0m | -€0.1m | -€0.07m | ▲ 54.8% |
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, 830 companies had the same profile as IMPULSE has now. Two years later, 96.5% were still going and 0.6% had gone bankrupt.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a small loss
96.5%
was still going
2.9%
stopped otherwise
0.6%
went bankrupt
That fits the bankruptcy probability of IMPULSE 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 830 companies, not a prediction for IMPULSE. 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 36 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 25-06-2026 | 2026-00206438 | |
| 31-12-2024 | micro format | 31-07-2025 | 2025-00350861 | |
| 31-12-2023 | micro format | 29-07-2024 | 2024-00297503 | |
| 31-12-2022 | abbreviated format | 25-08-2023 | 2023-00409090 | |
| 31-12-2021 | abbreviated format | 01-08-2022 | 2022-20276914 | |
| 31-12-2020 | abbreviated format | 30-09-2021 | 2021-70300576 | |
| 31-12-2019 | abbreviated format | 23-10-2020 | 2020-63700465 | |
| 31-12-2018 | abbreviated format | 05-10-2019 | 2019-68700360 | |
| 31-12-2017 | abbreviated format | 27-09-2018 | 2018-67500101 | |
| 31-12-2016 | abbreviated format | 27-09-2017 | 2017-65100568 |