Summary
KATHARO is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €20,460 and a net result of €6,757. Equity is shrinking by about 24% per year across the filed financial years. Its solvency ranks better than 17% of 6,577 sector peers (NACE 64, financial year 2025). The company has been active since 2018 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, abbreviated format
Equity
€20,460▼ 71.5%
2024 · €71,772
Net result
€6,757▼ 45.9%
2024 · €12,493
Total assets
€137,819▼ 20.2%
2024 · €172,687
Solvency
14.8%▼ 26.7pp
2024 · 41.6%
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result falls in 2025; 2025 is 36% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€13,258
2025
Net result€6,757
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€137,819
2025
Equity€20,460
2025
Debt€117,359
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€19,114
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)4.9%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency14.8%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.16
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€100,847-€172,080▲ 70.6%€161,097▼ 6.4%€40,932▼ 74.6%€55,713▲ 36.1%-€2,189€20,637€13,258▼ 35.8%
Net result€79,417-€128,027▲ 61.2%€113,819within the sector's middle half▼ 11.1%€32,040within the sector's middle half▼ 71.9%€43,716within the sector's middle half▲ 36.4%-€5,340below the sector's middle half€12,493within the sector's middle half€6,757within the sector's middle half▼ 45.9%
Equity€85,617-€213,644▲ 150%€327,463within the sector's middle half▲ 53.3%€359,503within the sector's middle half▲ 9.8%€64,619below the sector's middle half▼ 82.0%€59,279below the sector's middle half▼ 8.3%€71,772below the sector's middle half▲ 21.1%€20,460below the sector's middle half▼ 71.5%
Total assets€112,630-€254,275▲ 126%€361,974below the sector's middle half▲ 42.4%€376,689below the sector's middle half▲ 4.1%€114,452below the sector's middle half▼ 69.6%€155,350below the sector's middle half▲ 35.7%€172,687below the sector's middle half▲ 11.2%€137,819below the sector's middle half▼ 20.2%
Debt€27,013-€40,631▲ 50.4%€34,510▼ 15.1%€17,185▼ 50.2%€49,833▲ 190%€96,071▲ 92.8%€100,915▲ 5.0%€117,359▲ 16.3%
Working capital€85,617-€213,644▲ 150%€327,463above the sector's middle half▲ 53.3%€359,503above the sector's middle half▲ 9.8%€64,619within the sector's middle half▼ 82.0%€59,279within the sector's middle half▼ 8.3%€69,988within the sector's middle half▲ 18.1%€19,114within the sector's middle half▼ 72.7%
Solvency76.0%-84.0%▲ 8.0pp90.5%above the sector's middle half▲ 6.4pp95.4%above the sector's middle half▲ 5.0pp56.5%within the sector's middle half▼ 39.0pp38.2%within the sector's middle half▼ 18.3pp41.6%within the sector's middle half▲ 3.4pp14.8%below the sector's middle half▼ 26.7pp
Current ratio4.17-6.26▲ 2.0910.49above the sector's middle half▲ 4.2321.92above the sector's middle half▲ 11.432.30within the sector's middle half▼ 19.621.62within the sector's middle half▼ 0.681.69within the sector's middle half▲ 0.081.16within the sector's middle half▼ 0.53
Return on assets (ROA)70.5%-50.3%▼ 20.2pp31.4%above the sector's middle half▼ 18.9pp8.5%within the sector's middle half▼ 22.9pp38.2%above the sector's middle half▲ 29.7pp-3.4%below the sector's middle half▼ 41.6pp7.2%within the sector's middle half▲ 10.7pp4.9%within the sector's middle half▼ 2.3pp
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €137,819
Fixed assets
€1,346 ▼ 24.5%
Current assets
€136,473 ▼ 20.1%
Equity and liabilities €137,819
Equity
€20,460 ▼ 71.5%
Debt
€117,359 ▲ 16.3%
Debt's share of the balance-sheet total rises from 58.4% to 85.2%. Equity is lower and debt is higher.
Key figures and ratios
ROE
33.0%▲
2024 · 17.4%
Debt ≤ 1 year
€117,359▲
2024 · €100,915
Income taxes
€2,522▼
2024 · €4,030
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
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 | - | - | - | - | - | - | €406 | €438 | ▲ 8.0% |
| Other operating charges640/8 | - | - | - | €1,175 | €696 | €882 | €833 | €1,079 | ▲ 29.6% |
| Gross operating margin9900 | €100,984 | €173,532 | €162,536 | €42,107 | €56,410 | -€1,307 | €21,876 | €14,775 | ▼ 32.5% |
| Operating profit (loss)9901 | €100,847 | €172,080 | €161,097 | €40,932 | €55,713 | -€2,189 | €20,637 | €13,258 | ▼ 35.8% |
| Financial income75/76B | - | - | - | €217 | - | €29 | - | - | - |
| Recurring financial income75 | - | - | €166 | €217 | - | €29 | - | - | - |
| Financial charges65/66B | - | - | - | €472 | €791 | €3,025 | €4,114 | €3,978 | ▼ 3.3% |
| Recurring financial charges65 | €614 | €1,807 | €14,429 | €472 | €791 | €3,025 | €4,114 | €3,978 | ▼ 3.3% |
| Profit (loss) for the period before taxes9903 | €100,233 | €170,273 | €146,835 | €40,677 | €54,923 | -€5,185 | €16,523 | €9,280 | ▼ 43.8% |
| Income taxes67/77 | €20,815 | €42,246 | €33,016 | €8,637 | €11,207 | €155 | €4,030 | €2,522 | ▼ 37.4% |
| Profit (loss) for the period9904 | €79,417 | €128,027 | €113,819 | €32,040 | €43,716 | -€5,340 | €12,493 | €6,757 | ▼ 45.9% |
| Profit (loss) for the period to be appropriated9905 | €79,417 | €128,027 | €113,819 | €32,040 | €43,716 | -€5,340 | €12,493 | €6,757 | ▼ 45.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €112,630 | €254,275 | €361,974 | €376,689 | €114,452 | €155,350 | €172,687 | €137,819 | ▼ 20.2% |
| Fixed assets21/28 | - | - | - | - | - | - | €1,784 | €1,346 | ▼ 24.5% |
| Tangible fixed assets22/27 | - | - | - | - | - | - | €1,784 | €1,346 | ▼ 24.5% |
| Furniture and vehicles24 | - | - | - | - | - | - | €1,784 | €1,346 | ▼ 24.5% |
| Current assets29/58 | €112,630 | €254,275 | €361,974 | €376,689 | €114,452 | €155,350 | €170,902 | €136,473 | ▼ 20.1% |
| Amounts receivable within one year40/41 | €58,215 | €94,389 | €61,580 | €57,336 | €12,584 | €15,129 | €615 | €51 | ▼ 91.8% |
| Trade receivables40 | - | - | - | €12,100 | €12,584 | €15,125 | - | - | - |
| Other amounts receivable41 | - | - | - | €45,236 | €0 | €4 | €615 | €51 | ▼ 91.8% |
| Cash at bank and in hand54/58 | €54,415 | €159,886 | €300,393 | €318,081 | €101,867 | €140,221 | €168,562 | €134,640 | ▼ 20.1% |
| Deferred charges and accrued income490/1 | - | - | - | €1,272 | - | - | €1,725 | €1,783 | ▲ 3.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €112,630 | €254,275 | €361,974 | €376,689 | €114,452 | €155,350 | €172,687 | €137,819 | ▼ 20.2% |
| Equity10/15 | €85,617 | €213,644 | €327,463 | €359,503 | €64,619 | €59,279 | €71,772 | €20,460 | ▼ 71.5% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €79,417 | €207,444 | €321,263 | €353,303 | €46,019 | €40,679 | €53,172 | €1,860 | ▼ 96.5% |
| 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 | - | - | - | €351,443 | €44,159 | €38,819 | €51,312 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | - | - | - | - | - | - | - | €0 | - |
| Amounts payable17/49 | €27,013 | €40,631 | €34,510 | €17,185 | €49,833 | €96,071 | €100,915 | €117,359 | ▲ 16.3% |
| Amounts payable within one year42/48 | €27,013 | €40,631 | €34,510 | €17,185 | €49,833 | €96,071 | €100,915 | €117,359 | ▲ 16.3% |
| Financial debts43 | - | - | - | €3,000 | - | - | - | - | - |
| Other loans439 | - | - | - | €3,000 | - | - | - | - | - |
| Trade debts44 | €3,886 | €6,959 | €2,533 | €84 | €95 | €45,346 | €48,494 | €2,554 | ▼ 94.7% |
| Suppliers440/4 | - | - | - | €84 | €95 | €45,346 | €48,494 | €2,554 | ▼ 94.7% |
| Taxes, remuneration and social security45 | - | - | - | €14,102 | €8,451 | €6,684 | €5,908 | €16,586 | ▲ 181% |
| Taxes450/3 | - | - | - | €14,102 | €8,451 | €6,684 | €5,908 | €16,586 | ▲ 181% |
| Other amounts payable47/48 | - | - | - | - | €41,287 | €44,041 | €46,512 | €98,218 | ▲ 111% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €79,417 | €128,027 | €113,819 | €32,040 | €43,716 | -€5,340 | €12,493 | €6,757 | ▼ 45.9% |
| + Depreciation and write-downs630 | - | - | - | - | - | - | €406 | €438 | ▲ 8.0% |
| Operating cash flow (approximation) | €79,417 | €128,027 | €113,819 | €32,040 | €43,716 | -€5,340 | €12,899 | €7,195 | ▼ 44.2% |
| Investment in fixed assets (approximation) | - | - | - | - | - | - | - | €0 | - |
| Change in cash | - | €105,471 | €140,507 | €17,688 | -€216,213 | €38,353 | €28,342 | -€33,923 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (8)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 02-07-2026 | 2026-00248563 |
| 31-12-2024 | abbreviated format | 11-07-2025 | 2025-00260555 |
| 31-12-2023 | abbreviated format | 03-07-2024 | 2024-00204168 |
| 31-12-2022 | abbreviated format | 26-06-2023 | 2023-00156852 |
| 31-12-2021 | abbreviated format | 01-07-2022 | 2022-20155882 |
| 31-12-2020 | abbreviated format | 28-06-2021 | 2021-25600455 |
| 31-12-2019 | abbreviated format | 06-07-2020 | 2020-26400417 |
| 31-12-2018 | abbreviated format | 24-06-2019 | 2019-21400405 |
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Of the 24,460 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 19,973. 7,635 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.