KABA
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 22-04-2026 PDF all 3 filings
Every figure per financial year
The operating result for 2025 is a loss of €14,866, after a profit of €22,780 in 2024. It is the lowest result since 2023.
Turnover and EBIT margin are not published. The micro format does not require them.
Investments
| Item | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|
| Tangible fixed assets | - | €1,361 | €6,106 |
| Financial fixed assets | - | - | €6,270 |
| Depreciation and write-downs of the year | - | €189 | €1,317 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | €32,769 | - | - | - |
| Remuneration, social security and pensions62 | - | €3,142 | €11,062 | ▲ 252% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €189 | €1,317 | ▲ 597% |
| Other operating charges640/8 | €309 | €856 | €293 | ▼ 65.8% |
| Gross operating margin9900 | €9,211 | €26,967 | -€2,194 | - |
| Operating profit (loss)9901 | €8,902 | €22,780 | -€14,866 | - |
| Financial income75/76B | - | - | €1 | - |
| Recurring financial income75 | - | - | €1 | - |
| Financial charges65/66B | - | €904 | €1,991 | ▲ 120% |
| Recurring financial charges65 | - | €904 | €1,991 | ▲ 120% |
| Profit (loss) for the period before taxes9903 | €8,902 | €21,876 | -€16,857 | - |
| Income taxes67/77 | - | €6,732 | - | - |
| Profit (loss) for the period9904 | €8,902 | €15,144 | -€16,857 | - |
| Profit (loss) for the period to be appropriated9905 | €8,902 | €15,144 | -€16,857 | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €12,400 | €29,626 | €33,056 | ▲ 11.6% |
| Fixed assets21/28 | - | €1,172 | €11,759 | ▲ 903% |
| Tangible fixed assets22/27 | - | €1,172 | €5,489 | ▲ 368% |
| Plant, machinery and equipment23 | - | - | €3,176 | - |
| Furniture and vehicles24 | - | €1,172 | €899 | ▼ 23.3% |
| Other tangible fixed assets26 | - | - | €1,414 | - |
| Financial fixed assets28 | - | - | €6,270 | - |
| Current assets29/58 | €12,400 | €28,454 | €21,297 | ▼ 25.2% |
| Amounts receivable within one year40/41 | €4,193 | €11,949 | €13,328 | ▲ 11.5% |
| Trade receivables40 | €3,090 | €8,688 | €11,750 | ▲ 35.2% |
| Other amounts receivable41 | €1,103 | €3,261 | €1,578 | ▼ 51.6% |
| Cash at bank and in hand54/58 | €8,207 | €16,505 | €7,969 | ▼ 51.7% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €12,400 | €29,626 | €33,056 | ▲ 11.6% |
| Equity10/15 | €9,402 | €24,546 | €7,689 | ▼ 68.7% |
| Contributions10/11 | €500 | €500 | €500 | = |
| Contributions outside capital11 | - | €500 | €500 | = |
| Other1109/19 | - | €500 | €500 | = |
| Profit (loss) carried forward14 | €8,902 | €24,046 | €7,189 | ▼ 70.1% |
| Amounts payable17/49 | €2,998 | €5,080 | €25,367 | ▲ 399% |
| Amounts payable after more than one year17 | - | - | €1,102 | - |
| Financial debts170/4 | - | - | €1,102 | - |
| Amounts payable within one year42/48 | €2,998 | €5,080 | €24,265 | ▲ 378% |
| Current portion of amounts payable after more than one year42 | - | - | €1,865 | - |
| Trade debts44 | €1,446 | - | €1,806 | - |
| Suppliers440/4 | €1,446 | - | €1,806 | - |
| Taxes, remuneration and social security45 | - | €4,760 | - | - |
| Taxes450/3 | - | €4,760 | - | - |
| Other amounts payable47/48 | €1,552 | €320 | €20,593 | ▲ 64× |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,902 | €15,144 | -€16,857 | - |
| + Depreciation and write-downs630 | - | €189 | €1,317 | ▲ 597% |
| Operating cash flow (approximation) | €8,902 | €15,333 | -€15,539 | - |
| Investment in fixed assets (approximation) | - | - | -€11,904 | - |
| Change in cash | - | €8,298 | -€8,536 | - |
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, 1,207 companies had the same profile as KABA has now. Two years later, 90.1% were still going and 4.6% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
Another 0.7% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of KABA itself: 2.5% 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 1,207 companies, not a prediction for KABA. 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.