Inner Tech Lab
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00470981.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 10 filings
Turnover
≈ €50,000
Estimated: probably between €24,000 and €96,000
Total assets
€23,272▲ 3.0%
2024 · €22,599
Net result
€2,405
2024 · -€8,941
Working capital
-€4,403▲ 29.6%
2024 · -€6,253
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€3,376
2025
20182025
Net result
€2,405
2025
middle half of the sector
20182025
Equity
€2,666
▲ 924%
2025
lowest quarter of the sector
20182025
Total assets
€23,272
▲ 3.0%
2025
lowest quarter of the sector
20182025
Debt
€20,607
▼ 7.8%
2025
20182025
Working capital
-€4,403
▲ 29.6%
2025
lowest quarter of the sector
20182025
Solvency
11.5%
▲ 10.3pp
2025
lowest quarter of the sector
20182025
Current ratio
0.79
▲ 0.08
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
10.3%
▲ 49.9pp
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-€9,068-€13,501€3,176▼ 76.5%€3,699▲ 16.5%-€7,400-€14,758▼ 99.4%-€8,661▲ 41.3%€3,376
Net result-€9,497-€11,181€2,117within the sector's middle half▼ 81.1%€2,028within the sector's middle half▼ 4.2%-€16,043below the sector's middle half-€14,989below the sector's middle half▲ 6.6%-€8,941below the sector's middle half▲ 40.4%€2,405within the sector's middle half
Equity€12,507-€23,688▲ 89.4%€25,805within the sector's middle half▲ 8.9%€27,833within the sector's middle half▲ 7.9%€11,790within the sector's middle half▼ 57.6%€9,201below the sector's middle half▼ 22.0%€260below the sector's middle half▼ 97.2%€2,666below the sector's middle half▲ 924%
Total assets€30,007-€40,877▲ 36.2%€37,674below the sector's middle half▼ 7.8%€37,053below the sector's middle half▼ 1.6%€19,191below the sector's middle half▼ 48.2%€24,704below the sector's middle half▲ 28.7%€22,599below the sector's middle half▼ 8.5%€23,272below the sector's middle half▲ 3.0%
Debt€17,500-€17,188▼ 1.8%€11,869▼ 30.9%€9,220▼ 22.3%€7,401▼ 19.7%€15,503▲ 109%€22,338▲ 44.1%€20,607▼ 7.8%
Working capital€9,787-€23,109▲ 136%€23,937within the sector's middle half▲ 3.6%€26,333within the sector's middle half▲ 10.0%€11,413within the sector's middle half▼ 56.7%€9,971within the sector's middle half▼ 12.6%-€6,253below the sector's middle half-€4,403below the sector's middle half▲ 29.6%
Solvency41.7%-58.0%▲ 16.3pp68.5%within the sector's middle half▲ 10.5pp75.1%above the sector's middle half▲ 6.6pp61.4%within the sector's middle half▼ 13.7pp37.2%within the sector's middle half▼ 24.2pp1.2%below the sector's middle half▼ 36.1pp11.5%below the sector's middle half▲ 10.3pp
Current ratio1.70-2.41▲ 0.703.17within the sector's middle half▲ 0.763.98above the sector's middle half▲ 0.812.54within the sector's middle half▼ 1.431.68within the sector's middle half▼ 0.870.70below the sector's middle half▼ 0.980.79below the sector's middle half▲ 0.08
Return on assets (ROA)-31.6%-27.4%▲ 59.0pp5.6%within the sector's middle half▼ 21.7pp5.5%within the sector's middle half▼ 0.1pp-83.6%below the sector's middle half▼ 89.1pp-60.7%below the sector's middle half▲ 22.9pp-39.6%below the sector's middle half▲ 21.1pp10.3%within the sector's middle half▲ 49.9pp
above
within
below
The sector band is the middle half of the companies in Other professional, scientific and technical activities (NACE 74). 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 profit of €3,376, after a loss of €8,661 in 2024.
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 €23,272
Fixed assets
€7,068 ▼ 10.6%
Current assets
€16,204 ▲ 10.3%
Equity and liabilities €23,272
Equity
€2,666 ▲ 924%
Debt
€20,607 ▼ 7.8%
Debt's share of the balance-sheet total falls from 98.8% to 88.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€7,279▲
2024 · -€5,063
Cash flow
€6,309▲
2024 · -€5,343
Debt to equity
7.73
ROE
90.2%
Interest coverage
9.16▲
2024 · -41.94
Debt ≤ 1 year
€20,607▼
2024 · €20,941
Income taxes
€176▲
2024 · €174
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €1,822 | - | €1,232 | €3,062 |
| Intangible fixed assets | - | - | - | €10,276 | - |
| Financial fixed assets | €209 | €14,100 | - | - | - |
| Depreciation and write-downs of the year | €730 | €615 | €377 | €3,598 | €3,903 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,109 | €4,986 | €1,595 | €730 | €615 | €377 | €3,598 | €3,903 | ▲ 8.5% |
| Other operating charges640/8 | - | - | - | €714 | €731 | €1,163 | €5,802 | €964 | ▼ 83.4% |
| Non-recurring operating charges66A | - | - | - | - | €672 | €0 | - | - | - |
| Gross operating margin9900 | -€3,256 | €19,198 | €5,313 | €5,143 | -€5,382 | -€13,219 | €739 | €8,243 | ▲ 11× |
| Operating profit (loss)9901 | -€9,068 | €13,501 | €3,176 | €3,699 | -€7,400 | -€14,758 | -€8,661 | €3,376 | - |
| Financial income75/76B | - | - | - | €10 | €59 | €18 | €15 | €1 | ▼ 96.2% |
| Recurring financial income75 | €18 | €5 | €0 | €10 | €59 | €18 | €15 | €1 | ▼ 96.2% |
| Financial charges65/66B | - | - | - | €215 | €8,583 | €116 | €121 | €795 | ▲ 558% |
| Recurring financial charges65 | €340 | €177 | €268 | €215 | €8,583 | €116 | €121 | €795 | ▲ 558% |
| Profit (loss) for the period before taxes9903 | -€9,390 | €13,329 | €2,908 | €3,493 | -€15,923 | -€14,857 | -€8,766 | €2,581 | - |
| Income taxes67/77 | €107 | €2,148 | €791 | €1,465 | €120 | €132 | €174 | €176 | ▲ 1.0% |
| Profit (loss) for the period9904 | -€9,497 | €11,181 | €2,117 | €2,028 | -€16,043 | -€14,989 | -€8,941 | €2,405 | - |
| Profit (loss) for the period to be appropriated9905 | -€9,497 | €11,181 | €2,117 | €2,028 | -€16,043 | -€14,989 | -€8,941 | €2,405 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €30,007 | €40,877 | €37,674 | €37,053 | €19,191 | €24,704 | €22,599 | €23,272 | ▲ 3.0% |
| Formation expenses20 | €0 | - | - | - | - | - | - | - | - |
| Fixed assets21/28 | €6,326 | €1,340 | €2,694 | €1,873 | €377 | €0 | €7,910 | €7,068 | ▼ 10.6% |
| Intangible fixed assets21 | €0 | - | - | - | - | - | €6,851 | €3,425 | ▼ 50.0% |
| Tangible fixed assets22/27 | €6,326 | €1,340 | €2,394 | €1,664 | €377 | €0 | €1,059 | €3,643 | ▲ 244% |
| Plant, machinery and equipment23 | - | - | - | - | - | - | €1,059 | €3,643 | ▲ 244% |
| Furniture and vehicles24 | - | - | - | €1,664 | €377 | €0 | - | - | - |
| Financial fixed assets28 | €0 | - | €300 | €209 | €0 | - | - | - | - |
| Current assets29/58 | €23,681 | €39,537 | €34,980 | €35,180 | €18,814 | €24,704 | €14,688 | €16,204 | ▲ 10.3% |
| Amounts receivable after more than one year29 | - | - | - | €14,100 | €0 | - | - | - | - |
| Other amounts receivable291 | - | - | - | €14,100 | €0 | - | - | - | - |
| Stocks and contracts in progress3 | €0 | - | - | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €2 | €12,175 | €13,818 | €11,258 | €6,175 | €7,566 | €4,384 | €8,727 | ▲ 99.1% |
| Trade receivables40 | - | - | - | €11,223 | €5,657 | €5,657 | €3,267 | €7,610 | ▲ 133% |
| Other amounts receivable41 | - | - | - | €35 | €518 | €1,909 | €1,117 | €1,117 | = |
| Current investments50/53 | €0 | - | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €8,692 | €12,456 | €6,065 | €8,171 | €10,935 | €10,866 | €9,330 | €6,688 | ▼ 28.3% |
| Deferred charges and accrued income490/1 | - | - | - | €1,650 | €1,704 | €6,273 | €975 | €789 | ▼ 19.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €30,007 | €40,877 | €37,674 | €37,053 | €19,191 | €24,704 | €22,599 | €23,272 | ▲ 3.0% |
| Equity10/15 | €12,507 | €23,688 | €25,805 | €27,833 | €11,790 | €9,201 | €260 | €2,666 | ▲ 924% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €15,804 | €17,488 | €19,605 | €21,633 | €21,633 | €21,633 | €21,633 | €21,633 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €19,773 | €19,773 | €21,633 | €21,633 | €21,633 | = |
| Profit (loss) carried forward14 | -€9,497 | €0 | - | - | -€16,043 | -€31,032 | -€39,973 | -€37,568 | ▲ 6.0% |
| Provisions and deferred taxes16 | €0 | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €17,500 | €17,188 | €11,869 | €9,220 | €7,401 | €15,503 | €22,338 | €20,607 | ▼ 7.8% |
| Amounts payable after more than one year17 | €3,088 | €0 | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €13,894 | €16,428 | €11,044 | €8,847 | €7,401 | €14,733 | €20,941 | €20,607 | ▼ 1.6% |
| Financial debts43 | - | - | - | - | - | - | - | €4,116 | - |
| Credit institutions430/8 | - | - | - | - | - | - | - | €4,116 | - |
| Trade debts44 | €1,271 | €302 | €383 | €1,981 | €758 | €844 | €4,930 | €765 | ▼ 84.5% |
| Suppliers440/4 | - | - | - | €1,981 | €758 | €844 | €4,930 | €765 | ▼ 84.5% |
| Taxes, remuneration and social security45 | - | - | - | €733 | €120 | €251 | €500 | €3,544 | ▲ 609% |
| Taxes450/3 | - | - | - | €733 | €120 | €251 | €500 | €3,544 | ▲ 609% |
| Other amounts payable47/48 | - | - | - | €6,132 | €6,524 | €13,638 | €15,512 | €12,182 | ▼ 21.5% |
| Accrued charges and deferred income492/3 | - | - | - | €373 | €0 | €770 | €1,397 | €0 | ▼ 100% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€9,497 | €11,181 | €2,117 | €2,028 | -€16,043 | -€14,989 | -€8,941 | €2,405 | - |
| + Depreciation and write-downs630 | €5,109 | €4,986 | €1,595 | €730 | €615 | €377 | €3,598 | €3,903 | ▲ 8.5% |
| Operating cash flow (approximation) | -€4,387 | €16,168 | €3,712 | €2,758 | -€15,428 | -€14,612 | -€5,343 | €6,309 | - |
| Investment in fixed assets (approximation) | - | €0 | -€2,949 | €91 | €881 | €0 | -€11,508 | -€3,062 | ▲ 73.4% |
| Change in cash | - | €3,764 | -€6,391 | €2,106 | €2,764 | -€70 | -€1,536 | -€2,642 | ▼ 72.0% |
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, 5,053 companies had the same profile as Inner Tech Lab has now. Two years later, 95.8% were still going and 1.6% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
95.8%
was still going
2.4%
stopped otherwise
1.6%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Inner Tech Lab itself: 0.5% 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 5,053 companies, not a prediction for Inner Tech Lab. 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.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00470981 | |
| 31-12-2024 | micro format | 17-06-2025 | 2025-00148470 | |
| 31-12-2023 | micro format | 02-08-2024 | 2024-00323080 | |
| 31-12-2022 | micro format | 04-07-2023 | 2023-00200907 | |
| 31-12-2021 | micro format | 30-08-2022 | 2022-20345520 | |
| 31-12-2020 | micro format | 11-08-2021 | 2021-48600547 | |
| 31-12-2019 | micro format | 26-08-2020 | 2020-45400074 | |
| 31-12-2018 | micro format | 29-08-2019 | 2019-56600244 | |
| 31-12-2017 | abbreviated format | 28-06-2018 | 2018-25800124 | |
| 31-12-2016 | abbreviated format | 28-06-2017 | 2017-23900485 |