INVOLIS
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 05-05-2026 PDF all 10 filings
Turnover
≈ €92,000
Estimated: probably between €44,000 and €180,000
Total assets
€334,151▼ 5.3%
2024 · €352,773
Net result
€8,517▼ 82.9%
2024 · €49,704
Working capital
€328,087▲ 3.0%
2024 · €318,468
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€15,291
▼ 77.9%
2025
20182025
Net result
€8,517
▼ 82.9%
2025
middle half of the sector
20182025
Equity
€329,313
▲ 2.7%
2025
highest quarter of the sector
20182025
Total assets
€334,151
▼ 5.3%
2025
highest quarter of the sector
20182025
Debt
€4,838
▼ 84.9%
2025
20182025
Working capital
€328,087
▲ 3.0%
2025
highest quarter of the sector
20182025
Solvency
98.6%
▲ 7.6pp
2025
highest quarter of the sector
20182025
Current ratio
68.82
▲ 57.86
2025
highest quarter of the sector
20182025
Return on assets (ROA)
2.5%
▼ 11.5pp
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€32,587-€50,814▲ 55.9%-€20,974€37,358€117,653▲ 215%€91,278▼ 22.4%€69,114▼ 24.3%€15,291▼ 77.9%
Net result€22,341-€39,065▲ 74.9%-€21,397below the sector's middle half€29,533within the sector's middle half€85,276above the sector's middle half▲ 189%€65,384above the sector's middle half▼ 23.3%€49,704within the sector's middle half▼ 24.0%€8,517within the sector's middle half▼ 82.9%
Equity€73,231-€112,297▲ 53.3%€90,900within the sector's middle half▼ 19.1%€120,432within the sector's middle half▲ 32.5%€205,708above the sector's middle half▲ 70.8%€271,092above the sector's middle half▲ 31.8%€320,797above the sector's middle half▲ 18.3%€329,313above the sector's middle half▲ 2.7%
Total assets€112,629-€143,632▲ 27.5%€95,944within the sector's middle half▼ 33.2%€141,045within the sector's middle half▲ 47.0%€247,351within the sector's middle half▲ 75.4%€320,081above the sector's middle half▲ 29.4%€352,773above the sector's middle half▲ 10.2%€334,151above the sector's middle half▼ 5.3%
Debt€39,397-€31,335▼ 20.5%€5,045▼ 83.9%€20,612▲ 309%€41,642▲ 102%€48,989▲ 17.6%€31,977▼ 34.7%€4,838▼ 84.9%
Working capital€72,661-€112,107▲ 54.3%€90,173within the sector's middle half▼ 19.6%€117,805within the sector's middle half▲ 30.6%€205,518above the sector's middle half▲ 74.5%€267,661above the sector's middle half▲ 30.2%€318,468above the sector's middle half▲ 19.0%€328,087above the sector's middle half▲ 3.0%
Solvency65.0%-78.2%▲ 13.2pp94.7%above the sector's middle half▲ 16.6pp85.4%above the sector's middle half▼ 9.4pp83.2%above the sector's middle half▼ 2.2pp84.7%above the sector's middle half▲ 1.5pp90.9%above the sector's middle half▲ 6.2pp98.6%above the sector's middle half▲ 7.6pp
Current ratio2.84-4.58▲ 1.7318.87above the sector's middle half▲ 14.306.72above the sector's middle half▼ 12.165.94above the sector's middle half▼ 0.786.46above the sector's middle half▲ 0.5310.96above the sector's middle half▲ 4.5068.82above the sector's middle half▲ 57.86
Return on assets (ROA)19.8%-27.2%▲ 7.4pp-22.3%below the sector's middle half▼ 49.5pp20.9%within the sector's middle half▲ 43.2pp34.5%above the sector's middle half▲ 13.5pp20.4%within the sector's middle half▼ 14.0pp14.1%within the sector's middle half▼ 6.3pp2.5%below the sector's middle half▼ 11.5pp
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 78% lower than in 2024 and the lowest since 2020. 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 €334,151
Fixed assets
€1,226 ▼ 47.3%
Current assets
€332,925 ▼ 5.0%
Equity and liabilities €334,151
Equity
€329,313 ▲ 2.7%
Debt
€4,838 ▼ 84.9%
Debt's share of the balance-sheet total falls from 9.1% to 1.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€16,393▼
2024 · €70,217
Cash flow
€9,619▼
2024 · €50,807
Debt to equity
0.01▼
2024 · 0.10
ROE
2.6%▼
2024 · 15.5%
Interest coverage
6.86▼
2024 · 75.41
Debt ≤ 1 year
€4,838▼
2024 · €31,977
Income taxes
€4,385▼
2024 · €18,479
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 | €6,107 | - | €3,307 | - | - |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €4,206 | €2,437 | €66 | €1,102 | €1,102 |
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 | €606 | €381 | €246 | €4,206 | €2,437 | €66 | €1,102 | €1,102 | = |
| Other operating charges640/8 | - | - | - | €10,898 | €18,220 | €571 | €4,107 | €861 | ▼ 79.0% |
| Gross operating margin9900 | €46,331 | €65,127 | -€19,182 | €52,462 | €138,310 | €91,915 | €74,323 | €17,254 | ▼ 76.8% |
| Operating profit (loss)9901 | €32,587 | €50,814 | -€20,974 | €37,358 | €117,653 | €91,278 | €69,114 | €15,291 | ▼ 77.9% |
| Financial income75/76B | - | - | - | - | - | €0 | €0 | - | - |
| Recurring financial income75 | - | - | - | - | - | €0 | €0 | - | - |
| Financial charges65/66B | - | - | - | €117 | €113 | €125 | €931 | €2,388 | ▲ 156% |
| Recurring financial charges65 | €342 | €272 | €194 | €117 | €113 | €125 | €931 | €2,388 | ▲ 156% |
| Profit (loss) for the period before taxes9903 | €32,245 | €50,542 | -€21,168 | €37,241 | €117,539 | €91,154 | €68,183 | €12,902 | ▼ 81.1% |
| Income taxes67/77 | €9,904 | €11,477 | €229 | €7,708 | €32,263 | €25,770 | €18,479 | €4,385 | ▼ 76.3% |
| Profit (loss) for the period9904 | €22,341 | €39,065 | -€21,397 | €29,533 | €85,276 | €65,384 | €49,704 | €8,517 | ▼ 82.9% |
| Profit (loss) for the period to be appropriated9905 | €22,341 | €39,065 | -€21,397 | €29,533 | €85,276 | €65,384 | €49,704 | €8,517 | ▼ 82.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €112,629 | €143,632 | €95,944 | €141,045 | €247,351 | €320,081 | €352,773 | €334,151 | ▼ 5.3% |
| Fixed assets21/28 | €571 | €190 | €726 | €2,627 | €190 | €3,431 | €2,329 | €1,226 | ▼ 47.3% |
| Tangible fixed assets22/27 | €381 | - | €536 | €2,437 | €0 | €3,241 | €2,139 | €1,036 | ▼ 51.5% |
| Furniture and vehicles24 | - | - | - | €2,437 | €0 | €3,241 | €2,139 | €1,036 | ▼ 51.5% |
| Financial fixed assets28 | €190 | €190 | €190 | €190 | €190 | €190 | €190 | €190 | = |
| Current assets29/58 | €112,058 | €143,442 | €95,218 | €138,417 | €247,161 | €316,650 | €350,445 | €332,925 | ▼ 5.0% |
| Amounts receivable within one year40/41 | €21,175 | €30,570 | €11,734 | €13,167 | €22,607 | €11,200 | €20,751 | €12,525 | ▼ 39.6% |
| Trade receivables40 | - | - | - | €11,925 | €22,607 | €11,200 | €14,230 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | €1,242 | €0 | - | €6,521 | €12,525 | ▲ 92.1% |
| Cash at bank and in hand54/58 | €90,883 | €112,872 | €83,214 | €124,951 | €223,905 | €304,868 | €329,046 | €320,126 | ▼ 2.7% |
| Deferred charges and accrued income490/1 | - | - | - | €300 | €648 | €582 | €647 | €274 | ▼ 57.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €112,629 | €143,632 | €95,944 | €141,045 | €247,351 | €320,081 | €352,773 | €334,151 | ▼ 5.3% |
| Equity10/15 | €73,231 | €112,297 | €90,900 | €120,432 | €205,708 | €271,092 | €320,797 | €329,313 | ▲ 2.7% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €23,860 | €23,860 | €23,860 | €53,360 | €53,360 | €53,360 | €53,360 | €53,360 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €51,500 | €51,500 | €51,500 | €51,500 | €51,500 | = |
| Profit (loss) carried forward14 | €43,171 | €82,237 | €60,840 | €60,872 | €146,148 | €211,532 | €261,237 | €269,753 | ▲ 3.3% |
| Amounts payable17/49 | €39,397 | €31,335 | €5,045 | €20,612 | €41,642 | €48,989 | €31,977 | €4,838 | ▼ 84.9% |
| Amounts payable within one year42/48 | €39,397 | €31,335 | €5,045 | €20,612 | €41,642 | €48,989 | €31,977 | €4,838 | ▼ 84.9% |
| Trade debts44 | €1,287 | €3,020 | €576 | €581 | €18,155 | €2,159 | €904 | €2,531 | ▲ 180% |
| Suppliers440/4 | - | - | - | €581 | €18,155 | €2,159 | €904 | €2,531 | ▲ 180% |
| Taxes, remuneration and social security45 | - | - | - | €9,990 | €23,327 | €46,641 | €31,072 | €2,230 | ▼ 92.8% |
| Taxes450/3 | - | - | - | €9,990 | €23,327 | €44,411 | €31,072 | €0 | ▼ 100% |
| Remuneration and social security454/9 | - | - | - | - | - | €2,230 | €0 | €2,230 | - |
| Other amounts payable47/48 | - | - | - | €10,041 | €161 | €189 | €0 | €77 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €22,341 | €39,065 | -€21,397 | €29,533 | €85,276 | €65,384 | €49,704 | €8,517 | ▼ 82.9% |
| + Depreciation and write-downs630 | €606 | €381 | €246 | €4,206 | €2,437 | €66 | €1,102 | €1,102 | = |
| Operating cash flow (approximation) | €22,947 | €39,446 | -€21,151 | €33,738 | €87,713 | €65,450 | €50,807 | €9,619 | ▼ 81.1% |
| Investment in fixed assets (approximation) | - | €0 | -€782 | -€6,107 | €0 | -€3,307 | €0 | €0 | - |
| Change in cash | - | €21,989 | -€29,658 | €41,736 | €98,955 | €80,963 | €24,178 | -€8,920 | - |
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, 10,904 companies had the same profile as INVOLIS has now. Two years later, 95.2% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
95.2%
was still going
4.0%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of INVOLIS 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 10,904 companies, not a prediction for INVOLIS. 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 | 05-05-2026 | 2026-00104117 | |
| 31-12-2024 | micro format | 24-07-2025 | 2025-00302923 | |
| 31-12-2023 | micro format | 04-08-2024 | 2024-00326255 | |
| 31-12-2022 | micro format | 11-07-2023 | 2023-00223050 | |
| 31-12-2021 | micro format | 05-07-2022 | 2022-20143003 | |
| 31-12-2020 | micro format | 25-08-2021 | 2021-53800179 | |
| 31-12-2019 | micro format | 24-08-2020 | 2020-44500419 | |
| 31-12-2018 | micro format | 12-08-2019 | 2019-46200221 | |
| 31-12-2017 | micro format | 12-07-2018 | 2018-33400400 | |
| 31-12-2016 | micro format | 22-06-2017 | 2017-21300337 |