INTEGRATED DEVELOPMENT MANAGEMENT
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, 2026-00465404.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 26 filings
Turnover
≈ €230,000
Estimated: probably between €200,000 and €280,000
EBIT margin
Not included in this filing
Net result
€141,867
2024 · -€64,105
Working capital
€369,297▲ 8.6%
2024 · €340,182
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€132,143
2025
20182025
Net result
€141,867
2025
highest quarter of the sector
20182025
Equity
€377,327
▲ 7.7%
2025
highest quarter of the sector
20182025
Total assets
€512,550
▲ 45.6%
2025
highest quarter of the sector
20182025
Debt
€135,223
▲ 94×
2025
20182025
Working capital
€369,297
▲ 8.6%
2025
highest quarter of the sector
20182025
Solvency
73.6%
▼ 26.0pp
2025
middle half of the sector
20182025
Current ratio
3.73
2025
middle half of the sector
20182025
Return on assets (ROA)
27.7%
▲ 45.9pp
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€58,912-€115,755▲ 96.5%€112,803▼ 2.6%€107,471▼ 4.7%€69,213▼ 35.6%-€102,227-€80,830▲ 20.9%€132,143
Net result-€74,812-€101,530€78,143within the sector's middle half▼ 23.0%€74,537▼ 4.6%€46,991▼ 37.0%-€103,487-€64,105▲ 38.1%€141,867above the sector's middle half
Equity€216,482-€318,433▲ 47.1%€396,576within the sector's middle half▲ 24.5%€471,113▲ 18.8%€518,104▲ 10.0%€414,617▼ 20.0%€350,512▼ 15.5%€377,327above the sector's middle half▲ 7.7%
Total assets€264,772-€364,790▲ 37.8%€440,571within the sector's middle half▲ 20.8%€524,745▲ 19.1%€559,740▲ 6.7%€418,877▼ 25.2%€351,944▼ 16.0%€512,550above the sector's middle half▲ 45.6%
Debt€48,290-€46,357▼ 4.0%€43,995▼ 5.1%€53,632▲ 21.9%€41,635▼ 22.4%€4,260▼ 89.8%€1,433▼ 66.4%€135,223▲ 94×
Working capital€190,021-€294,167▲ 54.8%€376,057above the sector's middle half▲ 27.8%€451,957▲ 20.2%€498,504▲ 10.3%€400,930▼ 19.6%€340,182▼ 15.2%€369,297above the sector's middle half▲ 8.6%
Solvency81.8%-87.3%▲ 5.5pp90.0%above the sector's middle half▲ 2.7pp89.8%▼ 0.2pp92.6%▲ 2.8pp99.0%▲ 6.4pp99.6%▲ 0.6pp73.6%within the sector's middle half▼ 26.0pp
Current ratio10.23-10.99▲ 0.7511.35above the sector's middle half▲ 0.369.54▼ 1.8012.97▲ 3.4395.12▲ 82.153.73within the sector's middle half
Return on assets (ROA)-28.3%-27.8%▲ 56.1pp17.7%above the sector's middle half▼ 10.1pp14.2%▼ 3.5pp8.4%▼ 5.8pp-24.7%▼ 33.1pp-18.2%▲ 6.5pp27.7%within the sector's middle half▲ 45.9pp
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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 €132,143, after a loss of €80,830 in 2024. It is the highest result since 2018.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €512,550
Fixed assets
€8,031 ▼ 22.3%
Current assets
€504,519 ▲ 47.7%
Equity and liabilities €512,550
Equity
€377,327 ▲ 7.7%
Debt
€135,223 ▲ 94×
Debt's share of the balance-sheet total rises from 0.4% to 26.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€135,184▲
2024 · -€77,472
Cash flow
€144,908▲
2024 · -€60,748
Debt to equity
0.36▲
2024 · 0.00
ROE
37.6%▲
2024 · -18.3%
Interest coverage
over 100▲
2024 · -253.82
Debt ≤ 1 year
€135,223▲
2024 · €1,433
Income taxes
€1,126▲
2024 · €371
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 | €5,117 | €2,670 | €895 | - | €1,403 |
| Depreciation and write-downs of the year | €13,404 | €2,951 | €3,208 | €3,358 | €3,041 |
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 | €13,406 | €13,003 | €13,003 | €13,404 | €2,951 | €3,208 | €3,358 | €3,041 | ▼ 9.4% |
| Other operating charges640/8 | - | - | - | €442 | €1,842 | €880 | €1,299 | €2,299 | ▲ 77.0% |
| Non-recurring operating charges66A | - | - | - | - | - | - | - | €661 | - |
| Gross operating margin9900 | €73,738 | €129,292 | €126,342 | €121,317 | €74,005 | -€98,139 | -€76,174 | €138,144 | - |
| Operating profit (loss)9901 | €58,912 | €115,755 | €112,803 | €107,471 | €69,213 | -€102,227 | -€80,830 | €132,143 | - |
| Financial income75/76B | - | - | - | €0 | - | €757 | €17,401 | €11,634 | ▼ 33.1% |
| Recurring financial income75 | €2,500 | - | €10 | €0 | - | €757 | €17,401 | €11,634 | ▼ 33.1% |
| Financial charges65/66B | - | - | - | €1,366 | €1,139 | €1,643 | €305 | €785 | ▲ 157% |
| Recurring financial charges65 | €787 | €1,165 | €788 | €1,366 | €1,139 | €1,643 | €305 | €785 | ▲ 157% |
| Profit (loss) for the period before taxes9903 | -€74,375 | €114,591 | €112,025 | €106,105 | €68,073 | -€103,112 | -€63,734 | €142,993 | - |
| Income taxes67/77 | €437 | €13,061 | €33,882 | €31,568 | €21,082 | €374 | €371 | €1,126 | ▲ 203% |
| Profit (loss) for the period9904 | -€74,812 | €101,530 | €78,143 | €74,537 | €46,991 | -€103,487 | -€64,105 | €141,867 | - |
| Profit (loss) for the period to be appropriated9905 | -€74,812 | €101,530 | €78,143 | €74,537 | €46,991 | -€103,487 | -€64,105 | €141,867 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €264,772 | €364,790 | €440,571 | €524,745 | €559,740 | €418,877 | €351,944 | €512,550 | ▲ 45.6% |
| Fixed assets21/28 | €54,173 | €41,170 | €28,167 | €19,881 | €19,600 | €13,687 | €10,330 | €8,031 | ▼ 22.3% |
| Tangible fixed assets22/27 | €50,573 | €37,570 | €24,567 | €16,281 | €16,000 | €13,687 | €10,330 | €8,031 | ▼ 22.3% |
| Furniture and vehicles24 | - | - | - | €1,556 | €3,546 | €3,504 | €2,417 | €2,389 | ▼ 1.2% |
| Other tangible fixed assets26 | - | - | - | €14,725 | €12,454 | €10,183 | €7,912 | €5,641 | ▼ 28.7% |
| Financial fixed assets28 | €3,600 | €3,600 | €3,600 | €3,600 | €3,600 | - | - | - | - |
| Current assets29/58 | €210,599 | €323,620 | €412,404 | €504,864 | €540,139 | €405,190 | €341,615 | €504,519 | ▲ 47.7% |
| Amounts receivable within one year40/41 | €35,295 | €62,058 | €67,398 | €44,002 | €49,209 | €22,307 | €62,668 | €114,367 | ▲ 82.5% |
| Trade receivables40 | - | - | - | €38,115 | €29,403 | - | - | €26,620 | - |
| Other amounts receivable41 | - | - | - | €5,887 | €19,806 | €22,307 | €62,668 | €87,747 | ▲ 40.0% |
| Current investments50/53 | €3,033 | €3,033 | €3,033 | €3,033 | €3,033 | €343,040 | €233,050 | €3,063 | ▼ 98.7% |
| Cash at bank and in hand54/58 | €169,831 | €256,050 | €338,820 | €455,232 | €484,861 | €36,947 | €42,481 | €381,478 | ▲ 798% |
| Deferred charges and accrued income490/1 | - | - | - | €2,597 | €3,036 | €2,895 | €3,415 | €5,612 | ▲ 64.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €264,772 | €364,790 | €440,571 | €524,745 | €559,740 | €418,877 | €351,944 | €512,550 | ▲ 45.6% |
| Equity10/15 | €216,482 | €318,433 | €396,576 | €471,113 | €518,104 | €414,617 | €350,512 | €377,327 | ▲ 7.7% |
| Contributions10/11 | €49,579 | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Reserves13 | €241,716 | €268,433 | €346,576 | €421,113 | €468,104 | €468,104 | €468,104 | €353,053 | ▼ 24.6% |
| Non-distributable reserves130/1 | - | - | - | €4,958 | €4,958 | €4,958 | €4,958 | €4,958 | = |
| Reserves not available under the articles1311 | - | - | - | €4,958 | €4,958 | €4,958 | €4,958 | €4,958 | = |
| Distributable reserves133 | - | - | - | €416,155 | €463,146 | €463,146 | €463,146 | €348,095 | ▼ 24.8% |
| Profit (loss) carried forward14 | -€74,812 | - | - | - | - | -€103,487 | -€167,592 | -€25,725 | ▲ 84.6% |
| Amounts payable17/49 | €48,290 | €46,357 | €43,995 | €53,632 | €41,635 | €4,260 | €1,433 | €135,223 | ▲ 94× |
| Amounts payable after more than one year17 | €27,712 | €16,904 | €7,649 | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €20,578 | €29,453 | €36,347 | €52,907 | €41,635 | €4,260 | €1,433 | €135,223 | ▲ 94× |
| Current portion of amounts payable after more than one year42 | - | - | - | €7,649 | - | - | - | - | - |
| Trade debts44 | €509 | €766 | €3,552 | €2,473 | €313 | €4,113 | €1,433 | €7,040 | ▲ 391% |
| Suppliers440/4 | - | - | - | €2,473 | €313 | €4,113 | €1,433 | €7,040 | ▲ 391% |
| Taxes, remuneration and social security45 | - | - | - | €42,786 | €41,323 | €147 | - | €13,131 | - |
| Taxes450/3 | - | - | - | €42,786 | €41,323 | €147 | - | €13,131 | - |
| Other amounts payable47/48 | - | - | - | - | - | - | - | €115,051 | - |
| Accrued charges and deferred income492/3 | - | - | - | €725 | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€74,812 | €101,530 | €78,143 | €74,537 | €46,991 | -€103,487 | -€64,105 | €141,867 | - |
| + Depreciation and write-downs630 | €13,406 | €13,003 | €13,003 | €13,404 | €2,951 | €3,208 | €3,358 | €3,041 | ▼ 9.4% |
| Operating cash flow (approximation) | -€61,406 | €114,533 | €91,145 | €87,941 | €49,942 | -€100,279 | -€60,748 | €144,908 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€5,117 | -€2,670 | €2,705 | €0 | -€742 | - |
| Change in cash | - | €86,220 | €82,770 | €116,412 | €29,630 | -€447,914 | €5,534 | €338,997 | ▲ 61× |
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, 20,136 companies had the same profile as INTEGRATED DEVELOPMENT MANAGEMENT has now. Two years later, 95.0% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.0%
was still going
4.7%
stopped otherwise
0.2%
went bankrupt
That fits the bankruptcy probability of INTEGRATED DEVELOPMENT MANAGEMENT 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 20,136 companies, not a prediction for INTEGRATED DEVELOPMENT MANAGEMENT. 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 26 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00465404 | |
| 31-12-2024 | unclassified schema | 15-11-2025 | 2025-00566665 | |
| 31-12-2023 | unclassified schema | 16-09-2024 | 2024-00461991 | |
| 31-12-2022 | unclassified schema | 12-09-2023 | 2023-00444105 | |
| 31-12-2021 | unclassified schema | 30-11-2022 | 2022-20528457 | |
| 31-12-2020 | abbreviated format | 05-08-2021 | 2021-46000116 | |
| 31-12-2019 | abbreviated format | 11-09-2020 | 2020-52300231 | |
| 31-12-2018 | abbreviated format | 30-08-2019 | 2019-58000328 | |
| 31-12-2017 | abbreviated format | 29-08-2018 | 2018-52900577 | |
| 31-12-2016 | abbreviated format | 30-08-2017 | 2017-54300290 |