INTEGRA
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 12-06-2026 PDF all 27 filings
Turnover
€1.2m▲ 2.6%
2023 · €1.2m
EBIT margin
5.4%▼ 0.6pp
2023 · 6.1%
Net result
€62,221▲ 39.8%
2024 · €44,507
Working capital
€405,013▲ 2.4%
2024 · €395,413
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
€91,333
▲ 35.7%
2025
20182025
Net result
€62,221
▲ 39.8%
2025
middle half of the sector
20182025
EBIT margin
no figure
2025
20182025
Equity
€435,270
▲ 2.9%
2025
middle half of the sector
20182025
Total assets
€1.6m
▲ 159%
2025
middle half of the sector
20182025
Debt
€1.2m
▲ 490%
2025
20182025
Working capital
€405,013
▲ 2.4%
2025
middle half of the sector
20182025
Solvency
27.0%
▼ 40.9pp
2025
middle half of the sector
20182025
Current ratio
1.34
▼ 1.64
2025
middle half of the sector
20182025
Return on assets (ROA)
3.9%
▼ 3.3pp
2025
middle half of the sector
20182025
Staff (FTE)
5.4
▼ 11.5%
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
Turnover€1.1m-€1.1m▼ 7.4%€1.0m▼ 5.4%€1.1m▲ 8.3%€1.2m▲ 10.0%€1.2m▲ 0.8%€1.2m▲ 2.6%
Operating result€0.09m-€0.06m▼ 35.8%€0.07m▲ 20.2%€0.1m▲ 100%€0.1m▼ 19.4%€0.07m▼ 36.7%€0.07m▼ 8.2%€0.09m▲ 35.7%
Net result€0.05m-€0.04m▼ 31.7%€0.05mwithin the sector's middle half▲ 38.2%€0.1mwithin the sector's middle half▲ 103%€0.07mwithin the sector's middle half▼ 29.7%€0.05mwithin the sector's middle half▼ 22.4%€0.04mwithin the sector's middle half▼ 17.1%€0.06mwithin the sector's middle half▲ 39.8%
EBIT margin8.1%-5.6%▼ 2.5pp7.1%▲ 1.5pp13.2%▲ 6.1pp9.7%▼ 3.5pp6.1%▼ 3.6pp5.4%▼ 0.6pp
Equity€0.4m-€0.4m▲ 1.3%€0.4mwithin the sector's middle half▲ 0.2%€0.4mwithin the sector's middle half▲ 0.1%€0.4mwithin the sector's middle half▲ 0.8%€0.4mwithin the sector's middle half▲ 1.0%€0.4mwithin the sector's middle half▲ 0.3%€0.4mwithin the sector's middle half▲ 2.9%
Total assets€0.7m-€0.6m▼ 23.0%€0.6mbelow the sector's middle half▲ 0.6%€0.6mbelow the sector's middle half▲ 12.2%€0.6mbelow the sector's middle half▲ 2.3%€0.6mbelow the sector's middle half▼ 3.5%€0.6mbelow the sector's middle half=€1.6mwithin the sector's middle half▲ 159%
Debt€0.3m-€0.1m▼ 54.1%€0.1m▲ 1.8%€0.2m▲ 45.4%€0.2m▲ 5.2%€0.2m▼ 11.9%€0.2m▼ 0.7%€1.2m▲ 490%
Working capital€0.4m-€0.4m▲ 4.0%€0.4mwithin the sector's middle half▲ 1.4%€0.4mwithin the sector's middle half▲ 0.9%€0.4mwithin the sector's middle half▲ 0.4%€0.4mwithin the sector's middle half▼ 3.0%€0.4mwithin the sector's middle half▼ 0.3%€0.4mwithin the sector's middle half▲ 2.4%
Solvency56.1%-73.8%▲ 17.7pp73.5%above the sector's middle half▼ 0.3pp65.6%above the sector's middle half▼ 7.9pp64.6%above the sector's middle half▼ 1.0pp67.7%above the sector's middle half▲ 3.0pp67.9%above the sector's middle half▲ 0.2pp27.0%within the sector's middle half▼ 40.9pp
Current ratio2.23-3.87▲ 1.643.85above the sector's middle half▼ 0.012.95above the sector's middle half▼ 0.902.79above the sector's middle half▼ 0.162.97above the sector's middle half▲ 0.182.98above the sector's middle half▲ 0.011.34within the sector's middle half▼ 1.64
Return on assets (ROA)7.1%-6.3%▼ 0.8pp8.6%within the sector's middle half▲ 2.4pp15.6%above the sector's middle half▲ 7.0pp10.7%above the sector's middle half▼ 4.9pp8.6%within the sector's middle half▼ 2.1pp7.1%within the sector's middle half▼ 1.5pp3.9%within the sector's middle half▼ 3.3pp
Staff (FTE)6.6-6.8▲ 3.0%5.8within the sector's middle half▼ 14.7%5.8within the sector's middle half=6within the sector's middle half▲ 3.4%6within the sector's middle half=6.1within the sector's middle half▲ 1.7%5.4within the sector's middle half▼ 11.5%
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 36% higher than in 2024. It is a recovery after the fall in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.6m
Fixed assets
€30,257 ▲ 9.5%
Current assets
€1.6m ▲ 166%
Equity and liabilities €1.6m
Equity
€435,270 ▲ 2.9%
Debt
€1.2m ▲ 490%
Debt's share of the balance-sheet total rises from 32.1% to 73.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€99,883▲
2024 · €75,034
Cash flow
€70,771▲
2024 · €52,213
Quick ratio
0.56▼
2024 · 2.98
Debt to equity
2.71▲
2024 · 0.47
ROE
14.3%▲
2024 · 10.5%
Interest coverage
95.11▼
2024 · over 100
Debt ≤ 1 year
€1.2m▲
2024 · €199,769
Income taxes
€30,592▲
2024 · €24,000
Staff costs
€823,300▼
2024 · €852,905
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 | 5 | 6 | 6 | 7 | 6 |
| full-time | 5 | 6 | 6 | 6 | 5 |
| part-time | - | - | - | 1 | 1 |
| in full-time equivalents | 5 | 6 | 6 | 6.4 | 5.4 |
| Average over the year, in full-time equivalents | 5.8 | 6 | 6 | 6.1 | 5.4 |
| On a permanent contract | 5 | 6 | 6 | 7 | 6 |
| Joined | 1 | - | - | 2 | 0 |
| Left | 2 | - | - | 1 | 1 |
| Training hours | - | 38 | - | - | - |
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 | €8,366 | €8,375 | €8,471 | €8,478 | - |
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 | €5,458 | €2,043 | €25,938 | €10,397 | €11,171 |
| Depreciation and write-downs of the year | €8,242 | €8,513 | €9,340 | €7,706 | €8,550 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Auditor
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Fee for the audit | €11,162 | €12,254 | €12,784 | €13,512 | - |
| Work by persons linked to the auditor | €389 | €205 | - | €1,532 | - |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €1.2m | €1.3m | €1.3m | €1.3m | - | - |
| Turnover70 | €1.1m | €1.1m | €1.0m | €1.1m | €1.2m | €1.2m | €1.2m | - | - |
| Other operating income74 | - | - | - | €0.09m | €0.09m | €0.08m | €0.09m | - | - |
| Operating charges60/66A | - | - | - | €1.0m | €1.2m | €1.2m | €1.3m | - | - |
| Services and other goods61 | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | - | - |
| Remuneration, social security and pensions62 | - | - | - | €0.7m | €0.8m | €0.8m | €0.9m | €0.8m | ▼ 3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.02m | €0.01m | €0.007m | €0.008m | €0.009m | €0.009m | €0.008m | €0.009m | ▲ 10.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | €0.001m | - | - | - |
| Other operating charges640/8 | - | - | - | €0.01m | €0.007m | €0.007m | €0.01m | €0.009m | ▼ 18.5% |
| Gross operating margin9900 | - | - | - | - | - | - | - | €0.9m | - |
| Operating profit (loss)9901 | €0.09m | €0.06m | €0.07m | €0.1m | €0.1m | €0.07m | €0.07m | €0.09m | ▲ 35.7% |
| Financial income75/76B | - | - | - | - | €0 | €239 | €0.003m | €0.003m | ▼ 10.9% |
| Recurring financial income75 | €1 | - | €0 | - | €0 | €239 | €0.003m | €0.003m | ▼ 10.9% |
| Other financial income752/9 | - | - | - | - | €0 | €239 | €0.003m | - | - |
| Financial charges65/66B | - | - | - | €0.001m | €0.002m | €0.002m | €0.002m | €0.001m | ▼ 36.8% |
| Recurring financial charges65 | €0.002m | €0.001m | €0.001m | €0.001m | €0.002m | €0.002m | €0.002m | €0.001m | ▼ 36.8% |
| Debt charges650 | €290 | - | €137 | €168 | €205 | €0.001m | €0.001m | - | - |
| Other financial charges652/9 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | - | - |
| Profit (loss) for the period before taxes9903 | €0.09m | €0.06m | €0.07m | €0.1m | €0.1m | €0.07m | €0.07m | €0.09m | ▲ 35.5% |
| Income taxes67/77 | €0.04m | €0.02m | €0.02m | €0.04m | €0.04m | €0.02m | €0.02m | €0.03m | ▲ 27.5% |
| Taxes670/3 | - | - | - | €0.04m | €0.05m | €0.03m | €0.03m | - | - |
| Tax adjustments and reversals of tax provisions77 | - | - | - | - | €402 | €0.007m | €0.001m | - | - |
| Profit (loss) for the period9904 | €0.05m | €0.04m | €0.05m | €0.1m | €0.07m | €0.05m | €0.04m | €0.06m | ▲ 39.8% |
| Profit (loss) for the period to be appropriated9905 | €0.05m | €0.04m | €0.05m | €0.1m | €0.07m | €0.05m | €0.04m | €0.06m | ▲ 39.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.7m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €1.6m | ▲ 159% |
| Fixed assets21/28 | €0.03m | €0.02m | €0.02m | €0.01m | €0.008m | €0.02m | €0.03m | €0.03m | ▲ 9.5% |
| Tangible fixed assets22/27 | €0.03m | €0.02m | €0.02m | €0.01m | €0.008m | €0.02m | €0.03m | €0.03m | ▲ 9.5% |
| Plant, machinery and equipment23 | - | - | - | €0.004m | €0.003m | €0.01m | €0.02m | €0.02m | ▲ 24.7% |
| Furniture and vehicles24 | - | - | - | - | - | €0.009m | €0.008m | €0.007m | ▼ 12.5% |
| Other tangible fixed assets26 | - | - | - | €0.01m | €0.005m | €0.002m | €0.001m | - | - |
| Current assets29/58 | €0.7m | €0.5m | €0.5m | €0.6m | €0.6m | €0.6m | €0.6m | €1.6m | ▲ 166% |
| Stocks and contracts in progress3 | - | - | - | - | - | - | - | €0.9m | - |
| Stocks30/36 | - | - | - | - | - | - | - | €0.9m | - |
| Amounts receivable within one year40/41 | €0.6m | €0.2m | €0.3m | €0.09m | €0.2m | €0.08m | €0.2m | €0.07m | ▼ 67.3% |
| Trade receivables40 | - | - | - | €0.07m | €0.2m | €0.07m | €0.2m | €0.05m | ▼ 71.8% |
| Other amounts receivable41 | - | - | - | €0.02m | €0.01m | €0.01m | €0.01m | €0.01m | ▲ 14.4% |
| Current investments50/53 | - | - | - | - | - | - | - | €0.3m | - |
| Cash at bank and in hand54/58 | €0.05m | €0.3m | €0.2m | €0.5m | €0.4m | €0.5m | €0.4m | €0.3m | ▼ 12.7% |
| Deferred charges and accrued income490/1 | - | - | - | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | ▲ 2.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.7m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €1.6m | ▲ 159% |
| Equity10/15 | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | ▲ 2.9% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Profit (loss) carried forward14 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.4m | €0.4m | €0.4m | ▲ 3.4% |
| Amounts payable17/49 | €0.3m | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | €1.2m | ▲ 490% |
| Amounts payable within one year42/48 | €0.3m | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | €1.2m | ▲ 490% |
| Financial debts43 | - | - | - | €0.008m | €0.008m | €0.008m | €0.008m | - | - |
| Credit institutions430/8 | - | - | - | €0.008m | €0.008m | €0.008m | €0.008m | - | - |
| Trade debts44 | €0.2m | €0.02m | - | €0.003m | €0.04m | €0.01m | €0.01m | €1.0m | ▲ 102× |
| Suppliers440/4 | - | - | - | €0.003m | €0.04m | €0.01m | €0.01m | €1.0m | ▲ 100× |
| Bills of exchange payable441 | - | - | - | - | - | - | - | €0.02m | - |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 15.2% |
| Taxes450/3 | - | - | - | €0.02m | €0.02m | €0.03m | €0.02m | €0.005m | ▼ 68.6% |
| Remuneration and social security454/9 | - | - | - | €0.08m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 8.1% |
| Other amounts payable47/48 | - | - | - | €0.1m | €0.07m | €0.05m | €0.05m | €0.05m | ▲ 10.4% |
| Accrued charges and deferred income492/3 | - | - | - | €0.008m | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €51,557 | €35,196 | €48,631 | €98,597 | €69,268 | €53,718 | €44,507 | €62,221 | ▲ 39.8% |
| + Depreciation and write-downs630 | €20,897 | €10,791 | €7,405 | €8,242 | €8,513 | €9,340 | €7,706 | €8,550 | ▲ 10.9% |
| Operating cash flow (approximation) | €72,454 | €45,987 | €56,036 | €106,839 | €77,781 | €63,059 | €52,213 | €70,771 | ▲ 35.5% |
| Investment in fixed assets (approximation) | - | -€1,230 | -€2,565 | -€5,458 | -€2,043 | -€25,938 | -€10,397 | -€11,171 | ▼ 7.4% |
| Change in cash | - | €242,827 | -€100,941 | €334,881 | -€88,802 | €76,444 | -€127,149 | -€49,274 | ▲ 61.2% |
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, 3,984 companies had the same profile as INTEGRA has now. Two years later, 96.5% were still going and 1.1% had gone bankrupt.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
96.5%
was still going
2.3%
stopped otherwise
1.1%
went bankrupt
That fits the bankruptcy probability of INTEGRA 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 3,984 companies, not a prediction for INTEGRA. 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 27 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 12-06-2026 | 2026-00157140 | |
| 31-12-2024 | full format | 03-07-2025 | 2025-00238807 | |
| 31-12-2023 | full format | 01-08-2024 | 2024-00320042 | |
| 31-12-2022 | full format | 26-06-2023 | 2023-00157584 | |
| 31-12-2021 | full format | 27-09-2022 | 2022-20436888 | |
| 31-12-2020 | full format | 22-07-2021 | 2021-38300588 | |
| 31-12-2019 | full format | 30-07-2020 | 2020-36400243 | |
| 31-12-2018 | full format | 15-07-2019 | 2019-33500041 | |
| 31-12-2017 | full format | 10-08-2018 | 2018-44800315 | |
| 31-12-2016 | full format | 17-07-2017 | 2017-32700151 |