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isomasters

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Public limited companyfounded 2016active for 10 yearsPontstraat 80, 8791 Waregem, BelgiumKBO/BCE: BE 0660.716.488

Financials · financial year 2025, full format

Annual accounts 2025 filed on 29-06-2026 at the NBB all 9 filings

Turnover
€21.5m▼ 18.4%
2024 · €26.4m
EBIT margin
-1.4%▲ 2.1pp
2024 · -3.6%
Net result
-€366,834▲ 58.7%
2024 · -€887,288
Working capital
-€245,936▲ 44.8%
2024 · -€445,762
Multi-year overview
2018 to 2025, 8 financial years
Turnover
€21.5m
▼ 18.4% 2025
20182025
Operating result
-€304,452
▲ 67.6% 2025
20182025
Net result
-€366,834
▲ 58.7% 2025
lowest quarter of the sector
20182025
EBIT margin
-1.4%
▲ 2.1pp 2025
20182025
Equity
€2.0m
▼ 15.2% 2025
middle half of the sector
20182025
Total assets
€8.0m
▼ 11.6% 2025
middle half of the sector
20182025
Debt
€5.9m
▼ 11.4% 2025
20182025
Working capital
-€245,936
▲ 44.8% 2025
lowest quarter of the sector
20182025
Solvency
25.6%
▼ 1.1pp 2025
lowest quarter of the sector
20182025
Current ratio
0.96
▲ 0.03 2025
lowest quarter of the sector
20182025
Return on assets (ROA)
-4.6%
▲ 5.2pp 2025
lowest quarter of the sector
20182025
Staff (FTE)
112.2
▼ 21.1% 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€33.3m-€30.1m▼ 9.7%€27.9m▼ 7.4%€31.7m▲ 13.8%€32.8m▲ 3.4%€26.5m▼ 19.2%€26.4m▼ 0.3%€21.5m▼ 18.4%
Operating result-€3.6m--€0.8m▲ 78.1%€0.5m€0.8m▲ 72.0%€1.4m▲ 74.9%-€0.007m-€0.9m▼ 14,279%-€0.3m▲ 67.6%
Net result-€3.7m--€0.8m▲ 77.4%€0.5mwithin the sector's middle half€0.8mwithin the sector's middle half▲ 77.5%€1.4mwithin the sector's middle half▲ 73.3%€0.02mwithin the sector's middle half▼ 98.5%-€0.9mbelow the sector's middle half-€0.4mbelow the sector's middle half▲ 58.7%
EBIT margin-10.9%--2.7%▲ 8.3pp1.7%▲ 4.3pp2.5%▲ 0.9pp4.3%▲ 1.7pp0.0%▼ 4.3pp-3.6%▼ 3.5pp-1.4%▲ 2.1pp
Equity€1.5m-€0.6m▼ 57.6%€1.1mbelow the sector's middle half▲ 73.2%€1.9mwithin the sector's middle half▲ 75.0%€3.3mwithin the sector's middle half▲ 74.3%€3.3mwithin the sector's middle half▲ 0.6%€2.4mwithin the sector's middle half▼ 26.9%€2.0mwithin the sector's middle half▼ 15.2%
Total assets€11.6m-€10.4m▼ 10.5%€8.6mwithin the sector's middle half▼ 17.3%€10.7mwithin the sector's middle half▲ 24.8%€11.0mwithin the sector's middle half▲ 2.9%€9.2mwithin the sector's middle half▼ 16.3%€9.1mwithin the sector's middle half▼ 1.9%€8.0mwithin the sector's middle half▼ 11.6%
Debt€9.9m-€9.6m▼ 2.8%€7.4m▼ 22.9%€8.7m▲ 17.3%€7.7m▼ 12.1%€5.8m▼ 24.1%€6.6m▲ 13.7%€5.9m▼ 11.4%
Working capital-€1.7m--€2.3m▼ 38.9%-€1.6mbelow the sector's middle half▲ 32.3%-€0.4mbelow the sector's middle half▲ 71.6%€0.9mwithin the sector's middle half€0.4mwithin the sector's middle half▼ 57.3%-€0.4mbelow the sector's middle half-€0.2mbelow the sector's middle half▲ 44.8%
Solvency12.6%-6.0%▼ 6.6pp12.5%below the sector's middle half▲ 6.5pp17.6%below the sector's middle half▲ 5.0pp29.8%within the sector's middle half▲ 12.2pp35.8%within the sector's middle half▲ 6.0pp26.7%within the sector's middle half▼ 9.1pp25.6%below the sector's middle half▼ 1.1pp
Current ratio0.83-0.76▼ 0.070.79below the sector's middle half▲ 0.030.95below the sector's middle half▲ 0.161.12below the sector's middle half▲ 0.171.07below the sector's middle half▼ 0.050.93below the sector's middle half▼ 0.140.96below the sector's middle half▲ 0.03
Return on assets (ROA)-32.1%--8.1%▲ 24.0pp5.3%within the sector's middle half▲ 13.4pp7.5%within the sector's middle half▲ 2.2pp12.7%above the sector's middle half▲ 5.2pp0.2%within the sector's middle half▼ 12.5pp-9.8%below the sector's middle half▼ 10.0pp-4.6%below the sector's middle half▲ 5.2pp
Staff (FTE)195.1-186.7▼ 4.3%158.4above the sector's middle half▼ 15.2%154.8above the sector's middle half▼ 2.3%154.3above the sector's middle half▼ 0.3%152.1above the sector's middle half▼ 1.4%142.2above the sector's middle half▼ 6.5%112.2within the sector's middle half▼ 21.1%
above within below The sector band is the middle half of the companies in Manufacture of chemicals and chemical products (NACE 20). 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 €304,452, smaller than the loss of €940,725 in 2024.

Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €8.0m
Fixed assets €2.4m ▼ 16.9%
Current assets €5.6m ▼ 9.0%
Equity and liabilities €8.0m
Equity €2.0m ▼ 15.2%
Provisions €100,423 ▲ 229%
Debt €5.9m ▼ 11.4%
Debt's share of the balance-sheet total rises from 73.0% to 73.1%. Equity and debt are lower.
Key figures and ratios
2025 value · change against 2024
EBITDA
€269,412▲
2024 · -€320,056
Cash flow
€207,030▲
2024 · -€266,619
Quick ratio
0.39▲
2024 · 0.38
Debt to equity
2.86▲
2024 · 2.73
ROE
-17.9%▲
2024 · -36.7%
Interest coverage
2.76▲
2024 · -16.65
Debt ≤ 1 year
€5.8m▼
2024 · €6.6m
Income taxes
-€202▼
2024 · €1,703
Customer credit
36 days▲
2024 · 33 days
Supplier credit
58 days▼
2024 · 63 days
Staff costs
€6.7m▼
2024 · €8.2m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Staff

social balance sheet
Item31-12-202131-12-202231-12-202331-12-202431-12-2025
Employees at the balance-sheet date159169156134105
full-time13614212710882
part-time2327292623
in full-time equivalents153.3162.2148.8127.399.6
Average over the year, in full-time equivalents154.8154.3152.1142.2112.2
On a permanent contract159169156134105
Joined1625182511
Left1715314740
Agency workers, average number8.510.40.10.70.8
Training hours3,4744,1921163,7334,799

Source: social balance sheet in the 2021 to 2025 annual accounts

Investments

fixed assets acquired
Item20212022202320242025
Tangible fixed assets€510,623€696,560€1.4m€403,457€141,765
Intangible fixed assets€38,822€22,525€9,716€90,706€14,053
Depreciation and write-downs of the year€780,221€665,758€518,533€620,668€573,864

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Auditor

fees

The auditor is Ernst et Young Reviseurs d'Entreprises.

Item20212022202320242025
Fee for the audit€32,321€36,990€35,860€33,307€35,366

Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)

Subsidies and aid

Flemish government

2022 to 2025 · 4 entries · €17,865 awarded · €17,865 paid
Year Entries AwardedPaid
2025 1 €2,386€2,386
2024 1 €8,541€8,541
2023 1 €4,569€4,569
2022 1 €2,369€2,369
Schemes
4 entries · €17,865 · €17,865 paid · Departement Werk en Sociale Economie
Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 82 lines
Balance sheet Code20242025
Assets
Total assets20/58€9.1m€8.0m▼
Fixed assets21/28€2.9m€2.4m▼
Intangible fixed assets21€0.09m€0.06m▼
Tangible fixed assets22/27€2.8m€2.4m▼
Plant, machinery and equipment23€2.4m€2.1m▼
Furniture and vehicles24€0.2m€0.2m▼
Other tangible fixed assets26€0.1m€0.04m▼
Assets under construction and advance payments27€0.09m€0.03m▼
Current assets29/58€6.1m€5.6m▼
Stocks and contracts in progress3€3.6m€3.3m▼
Stocks30/36€3.6m€3.3m▼
Raw materials and consumables30/31€2.2m€2.0m▼
Work in progress32€0.5m€0.5m▲
Finished goods33€0.5m€0.4m▼
Goods purchased for resale34€0.4m€0.3m▼
Amounts receivable within one year40/41€2.4m€2.2m▼
Trade receivables40€2.4m€2.1m▼
Other amounts receivable41€0.05m€0.1m▲
Cash at bank and in hand54/58€0.04m€0.005m▼
Deferred charges and accrued income490/1€0.03m€0.05m▲
Equity and liabilities
Total equity and liabilities10/49€9.1m€8.0m▼
Equity10/15€2.4m€2.0m▼
Contributions10/11€1.0m€1.0m=
Capital10€1.0m€1.0m=
Issued capital100€1.0m€1.0m=
Reserves13€1.4m€1.0m▼
Non-distributable reserves130/1€0.1m€0.1m=
Legal reserve130€0.1m€0.1m=
Tax-exempt reserves132€0.04m€0.04m=
Distributable reserves133€1.3m€0.9m▼
Provisions and deferred taxes16€0.03m€0.1m▲
Provisions for liabilities and charges160/5€0.03m€0.1m▲
Other liabilities and charges164/5€0.03m€0.1m▲
Amounts payable17/49€6.6m€5.9m▼
Amounts payable within one year42/48€6.6m€5.8m▼
Financial debts43€3.0m€3.2m▲
Credit institutions430/8€1€0▼
Other loans439€3.0m€3.2m▲
Trade debts44€2.4m€1.7m▼
Suppliers440/4€2.4m€1.7m▼
Advances received on contracts in progress46€0.3m€0.2m▼
Taxes, remuneration and social security45€0.8m€0.8m▲
Taxes450/3€0.03m€0.07m▲
Remuneration and social security454/9€0.8m€0.8m▼
Accrued charges and deferred income492/3€0.02m€0.02m▲
Income statement Code20242025
Operating income70/76A€27.8m€23.5m▼
Turnover70€26.4m€21.5m▼
Change in stocks of work in progress, finished goods and contracts in progress71€0.2m€0.06m▼
Other operating income74€1.3m€1.8m▲
Non-recurring operating income76A€0€0.05m▲
Operating charges60/66A€28.7m€23.8m▼
Goods for resale, raw materials and consumables60€14.2m€10.5m▼
Purchases600/8€14.4m€10.3m▼
Change in stocks: decrease (increase)609-€0.1m€0.2m▲
Services and other goods61€5.9m€5.6m▼
Remuneration, social security and pensions62€8.2m€6.7m▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.6m€0.6m▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€0.2m€0.1m▲
Provisions for liabilities and charges: additions (uses and reversals)635/8-€0.09m€0.07m▲
Other operating charges640/8€0.09m€0.2m▲
Non-recurring operating charges66A€0.005m€0▼
Operating profit (loss)9901-€0.9m-€0.3m▲
Financial income75/76B€0.1m€0.07m▼
Recurring financial income75€0.1m€0.07m▼
Income from current assets751€0.03m€0.001m▼
Other financial income752/9€0.08m€0.06m▼
Financial charges65/66B€0.06m€0.1m▲
Recurring financial charges65€0.06m€0.1m▲
Debt charges650€0.02m€0.1m▲
Other financial charges652/9€0.04m€0.03m▼
Profit (loss) for the period before taxes9903-€0.9m-€0.4m▲
Income taxes67/77€0.002m-€202▼
Taxes670/3€0.008m€0.005m▼
Tax adjustments and reversals of tax provisions77€0.007m€0.005m▼
Profit (loss) for the period9904-€0.9m-€0.4m▲
Profit (loss) for the period to be appropriated9905-€0.9m-€0.4m▲
Appropriation of the result
Profit (loss) to be appropriated9906-€0.9m-€0.4m▲
Transfer from equity791/2€0.9m€0.4m▼
From reserves792€0.9m€0.4m▼
Transfer to equity691/2€0-
To other reserves6921€0-
Social balance sheet
Average headcount (FTE)9087142.2112.2▼

The notes to these accounts have 62 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 29-06-2026.

Line20182019202020212022202320242025Change
Operating income70/76A---€33.6m€34.7m€27.8m€27.8m€23.5m▼ 15.6%
Turnover70€33.3m€30.1m€27.9m€31.7m€32.8m€26.5m€26.4m€21.5m▼ 18.4%
Change in stocks of work in progress, finished goods and contracts in progress71---€0.1m€0.1m-€0.1m€0.2m€0.06m▼ 60.0%
Other operating income74---€1.8m€1.7m€1.4m€1.3m€1.8m▲ 46.1%
Non-recurring operating income76A---€0-€0.007m€0€0.05m-
Operating charges60/66A---€32.8m€33.3m€27.8m€28.7m€23.8m▼ 17.3%
Goods for resale, raw materials and consumables60---€17.6m€17.3m€13.8m€14.2m€10.5m▼ 25.9%
Purchases600/8---€18.7m€18.6m€12.3m€14.4m€10.3m▼ 28.2%
Change in stocks: decrease (increase)609----€1.0m-€1.2m€1.5m-€0.1m€0.2m-
Services and other goods61---€6.1m€6.6m€5.7m€5.9m€5.6m▼ 4.9%
Remuneration, social security and pensions62---€8.1m€8.3m€7.7m€8.2m€6.7m▼ 18.6%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.8m€0.8m€0.8m€0.8m€0.7m€0.5m€0.6m€0.6m▼ 7.5%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4---€0.2m€0.5m€0.02m-€0.2m€0.1m-
Provisions for liabilities and charges: additions (uses and reversals)635/8---€0.03m-€0.04m€0.03m-€0.09m€0.07m-
Other operating charges640/8---€0.04m€0.03m€0.02m€0.09m€0.2m▲ 121%
Non-recurring operating charges66A----€0.001m€0.03m€0.005m€0▼ 100%
Operating profit (loss)9901-€3.6m-€0.8m€0.5m€0.8m€1.4m-€0.007m-€0.9m-€0.3m▲ 67.6%
Financial income75/76B---€0.09m€0.1m€0.08m€0.1m€0.07m▼ 43.8%
Recurring financial income75€0.03m€0.04m€0.06m€0.09m€0.1m€0.08m€0.1m€0.07m▼ 43.8%
Income from current assets751---€0.001m€498€440€0.03m€0.001m▼ 96.8%
Other financial income752/9---€0.09m€0.1m€0.08m€0.08m€0.06m▼ 23.7%
Financial charges65/66B---€0.08m€0.05m€0.04m€0.06m€0.1m▲ 107%
Recurring financial charges65€0.1m€0.08m€0.08m€0.08m€0.05m€0.04m€0.06m€0.1m▲ 107%
Debt charges650€0.003m€0.005m€278€0.003m€370€0€0.02m€0.1m▲ 408%
Other financial charges652/9---€0.08m€0.05m€0.04m€0.04m€0.03m▼ 28.1%
Profit (loss) for the period before taxes9903-€3.7m-€0.8m€0.5m€0.8m€1.5m€0.03m-€0.9m-€0.4m▲ 58.6%
Income taxes67/77€0.005m€0.004m€0€0.004m€0.07m€0.01m€0.002m-€202-
Taxes670/3---€0.005m€0.07m€0.01m€0.008m€0.005m▼ 40.1%
Tax adjustments and reversals of tax provisions77---€0.001m€0-€0.007m€0.005m▼ 21.8%
Profit (loss) for the period9904-€3.7m-€0.8m€0.5m€0.8m€1.4m€0.02m-€0.9m-€0.4m▲ 58.7%
Profit (loss) for the period to be appropriated9905-€3.7m-€0.8m€0.5m€0.8m€1.4m€0.02m-€0.9m-€0.4m▲ 58.7%
Line20182019202020212022202320242025Change
Assets
Total assets20/58€11.6m€10.4m€8.6m€10.7m€11.0m€9.2m€9.1m€8.0m▼ 11.6%
Fixed assets21/28€3.4m€3.1m€2.8m€2.5m€2.5m€3.0m€2.9m€2.4m▼ 16.9%
Intangible fixed assets21€0.2m€0.3m€0.2m€0.1m€0.07m€0.04m€0.09m€0.06m▼ 31.6%
Tangible fixed assets22/27€3.2m€2.8m€2.6m€2.3m€2.4m€3.0m€2.8m€2.4m▼ 16.5%
Plant, machinery and equipment23---€1.8m€1.5m€2.3m€2.4m€2.1m▼ 11.8%
Furniture and vehicles24---€0.1m€0.1m€0.3m€0.2m€0.2m▼ 27.6%
Other tangible fixed assets26---€0.4m€0.3m€0.2m€0.1m€0.04m▼ 63.5%
Assets under construction and advance payments27---€0.07m€0.5m€0.3m€0.09m€0.03m▼ 59.5%
Current assets29/58€8.2m€7.3m€5.8m€8.2m€8.6m€6.2m€6.1m€5.6m▼ 9.0%
Stocks and contracts in progress3€4.0m€3.2m€2.9m€3.9m€4.9m€3.1m€3.6m€3.3m▼ 8.7%
Stocks30/36---€3.9m€4.9m€3.1m€3.6m€3.3m▼ 8.7%
Raw materials and consumables30/31---€2.6m€3.7m€2.1m€2.2m€2.0m▼ 8.4%
Work in progress32---€0.4m€0.4m€0.4m€0.5m€0.5m▲ 18.6%
Finished goods33---€0.4m€0.5m€0.5m€0.5m€0.4m▼ 17.6%
Goods purchased for resale34---€0.4m€0.3m€0.3m€0.4m€0.3m▼ 29.1%
Amounts receivable within one year40/41€4.1m€4.1m€2.9m€4.3m€3.6m€3.0m€2.4m€2.2m▼ 9.1%
Trade receivables40---€4.2m€3.5m€2.9m€2.4m€2.1m▼ 11.3%
Other amounts receivable41---€0.06m€0.04m€0.06m€0.05m€0.1m▲ 95.6%
Cash at bank and in hand54/58€0.02m€0.05m€140€0.03m€0.02m€0.009m€0.04m€0.005m▼ 87.0%
Deferred charges and accrued income490/1---€0.06m€0.07m€0.03m€0.03m€0.05m▲ 52.4%
Equity and liabilities
Total equity and liabilities10/49€11.6m€10.4m€8.6m€10.7m€11.0m€9.2m€9.1m€8.0m▼ 11.6%
Equity10/15€1.5m€0.6m€1.1m€1.9m€3.3m€3.3m€2.4m€2.0m▼ 15.2%
Contributions10/11€10.4m€10.4m€1.0m€1.0m€1.0m€1.0m€1.0m€1.0m=
Capital10---€1.0m€1.0m€1.0m€1.0m€1.0m=
Issued capital100---€1.0m€1.0m€1.0m€1.0m€1.0m=
Reserves13€3.5m€3.5m€0.08m€0.9m€2.3m€2.3m€1.4m€1.0m▼ 25.9%
Non-distributable reserves130/1---€0.05m€0.1m€0.1m€0.1m€0.1m=
Legal reserve130---€0.05m€0.1m€0.1m€0.1m€0.1m=
Tax-exempt reserves132---€0.04m€0.04m€0.04m€0.04m€0.04m=
Distributable reserves133---€0.8m€2.1m€2.2m€1.3m€0.9m▼ 28.6%
Profit (loss) carried forward14-€12.4m-€13.2m€0------
Provisions and deferred taxes16€0.2m€0.1m€0.09m€0.1m€0.09m€0.1m€0.03m€0.1m▲ 229%
Provisions for liabilities and charges160/5---€0.1m€0.09m€0.1m€0.03m€0.1m▲ 229%
Pensions and similar obligations160---€0.02m€0.001m€0---
Other liabilities and charges164/5---€0.1m€0.08m€0.1m€0.03m€0.1m▲ 229%
Amounts payable17/49€9.9m€9.6m€7.4m€8.7m€7.7m€5.8m€6.6m€5.9m▼ 11.4%
Amounts payable within one year42/48€9.9m€9.6m€7.4m€8.7m€7.6m€5.8m€6.6m€5.8m▼ 11.5%
Financial debts43---€3.3m€2.8m€1.8m€3.0m€3.2m▲ 5.8%
Credit institutions430/8------€1€0▼ 100%
Other loans439---€3.3m€2.8m€1.8m€3.0m€3.2m▲ 5.8%
Trade debts44€4.7m€4.1m€3.4m€3.8m€3.0m€2.9m€2.4m€1.7m▼ 31.3%
Suppliers440/4---€3.8m€3.0m€2.9m€2.4m€1.7m▼ 31.3%
Advances received on contracts in progress46---€0.2m€0.3m€0.06m€0.3m€0.2m▼ 52.5%
Taxes, remuneration and social security45---€1.2m€1.3m€1.0m€0.8m€0.8m▲ 0.9%
Taxes450/3---€0.1m€0.1m€0.07m€0.03m€0.07m▲ 165%
Remuneration and social security454/9---€1.1m€1.2m€0.9m€0.8m€0.8m▼ 4.3%
Other amounts payable47/48---€0.2m€0.2m€0---
Accrued charges and deferred income492/3---€0.03m€0.02m€0.01m€0.02m€0.02m▲ 26.7%
Line20182019202020212022202320242025Change
Profit (loss) for the period9904-€3.7m-€0.8m€0.5m€0.8m€1.4m€0.02m-€0.9m-€0.4m▲ 58.7%
+ Depreciation and write-downs630€0.8m€0.8m€0.8m€0.8m€0.7m€0.5m€0.6m€0.6m▼ 7.5%
Operating cash flow (approximation)-€2.9m-€0.03m€1.3m€1.6m€2.1m€0.5m-€0.3m€0.2m-
Investment in fixed assets (approximation)--€0.5m-€0.5m-€0.5m-€0.7m-€1.1m-€0.5m-€0.08m▲ 83.4%
Change in cash-€0.03m-€0.05m€0.03m-€0.01m-€0.01m€0.03m-€0.03m-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Historical observation

In July 2024, 120 companies had the same profile as isomasters has now. Two years later, 95.0% were still going and 0.0% had gone bankrupt.

  • Medium-sized
  • 10 to 20 years old
  • solvency 10 to 30%
  • a small loss
95.0% was still going
5.0% stopped otherwise
0.0% went bankrupt

The bankruptcy probability of isomasters itself is higher: 0.8% within 12 months. It rests on far more data about isomasters than the profile alone.

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.

The companies in ten equal groups, from the lowest to the highest expected share
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 120 companies, not a prediction for isomasters. 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 (9)
Financial year Type Filed Reference Document
31-12-2025 full format 29-06-2026 2026-00228397 PDF
31-12-2024 full format 26-06-2025 2025-00181635 PDF
31-12-2023 full format 02-07-2024 2024-00215256 PDF
31-12-2022 full format 29-06-2023 2023-00174234 PDF
31-12-2021 full format 01-07-2022 2022-20157110 PDF
31-12-2020 full format 05-07-2021 2021-32300563 PDF
31-12-2019 full format 15-07-2020 2020-31000004 PDF
31-12-2018 full format 15-07-2019 2019-34500541 PDF
31-12-2017 full format 26-09-2018 2018-65800379 PDF

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