KBSolutions
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 27-06-2026 at the NBB all 11 filings
Turnover
≈ €3,200
Estimated: probably between €1,600 and €6,400
Total assets
€381,064▼ 0.5%
2024 · €383,032
Net result
-€3,616
2024 · €5,232
Working capital
€289,505▼ 3.0%
2024 · €298,565
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€3,465
2025
20182025
Net result
-€3,616
2025
lowest quarter of the sector
20182025
Equity
€365,985
▼ 1.0%
2025
highest quarter of the sector
20182025
Total assets
€381,064
▼ 0.5%
2025
highest quarter of the sector
20182025
Debt
€15,079
▲ 12.3%
2025
20182025
Working capital
€289,505
▼ 3.0%
2025
highest quarter of the sector
20182025
Solvency
96.0%
▼ 0.5pp
2025
highest quarter of the sector
20182025
Current ratio
20.79
▼ 2.44
2025
highest quarter of the sector
20182025
Return on assets (ROA)
-0.9%
▼ 2.3pp
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€19,718-€34,551▲ 75.2%€43,803▲ 26.8%€25,254▼ 42.3%€208,033▲ 724%-€16,145€6,818-€3,465
Net result€11,935-€24,664▲ 107%€33,278within the sector's middle half▲ 34.9%€18,257within the sector's middle half▼ 45.1%€210,896above the sector's middle half▲ 12×-€20,353below the sector's middle half€5,232within the sector's middle half-€3,616below the sector's middle half
Equity€103,827-€128,491▲ 23.8%€155,569above the sector's middle half▲ 21.1%€173,826above the sector's middle half▲ 11.7%€384,722above the sector's middle half▲ 121%€364,369above the sector's middle half▼ 5.3%€369,601above the sector's middle half▲ 1.4%€365,985above the sector's middle half▼ 1.0%
Total assets€111,254-€142,155▲ 27.8%€172,479within the sector's middle half▲ 21.3%€186,994within the sector's middle half▲ 8.4%€399,523above the sector's middle half▲ 114%€386,041above the sector's middle half▼ 3.4%€383,032above the sector's middle half▼ 0.8%€381,064above the sector's middle half▼ 0.5%
Debt€7,427-€13,664▲ 84.0%€16,910▲ 23.7%€13,168▼ 22.1%€14,801▲ 12.4%€21,672▲ 46.4%€13,430▼ 38.0%€15,079▲ 12.3%
Working capital€86,419-€87,205▲ 0.9%€94,165within the sector's middle half▲ 8.0%€112,432within the sector's middle half▲ 19.4%€323,257above the sector's middle half▲ 188%€295,547above the sector's middle half▼ 8.6%€298,565above the sector's middle half▲ 1.0%€289,505above the sector's middle half▼ 3.0%
Solvency93.3%-90.4%▼ 2.9pp90.2%above the sector's middle half▼ 0.2pp93.0%above the sector's middle half▲ 2.8pp96.3%above the sector's middle half▲ 3.3pp94.4%above the sector's middle half▼ 1.9pp96.5%above the sector's middle half▲ 2.1pp96.0%above the sector's middle half▼ 0.5pp
Current ratio12.64-8.21▼ 4.426.57above the sector's middle half▼ 1.649.54above the sector's middle half▲ 2.9722.84above the sector's middle half▲ 13.3014.64above the sector's middle half▼ 8.2023.23above the sector's middle half▲ 8.5920.79above the sector's middle half▼ 2.44
Return on assets (ROA)10.7%-17.3%▲ 6.6pp19.3%within the sector's middle half▲ 1.9pp9.8%within the sector's middle half▼ 9.5pp52.8%above the sector's middle half▲ 43.0pp-5.3%below the sector's middle half▼ 58.1pp1.4%below the sector's middle half▲ 6.6pp-0.9%below the sector's middle half▼ 2.3pp
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 a loss of €3,465, after a profit of €6,818 in 2024.
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 €381,064
Fixed assets
€76,926 ▲ 8.3%
Current assets
€304,138 ▼ 2.5%
Equity and liabilities €381,064
Equity
€365,985 ▼ 1.0%
Debt
€15,079 ▲ 12.3%
Debt's share of the balance-sheet total rises from 3.5% to 4.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€52▼
2024 · €11,189
Cash flow
-€203▼
2024 · €9,603
Debt to equity
0.04▲
2024 · 0.04
ROE
-1.0%▼
2024 · 1.4%
Interest coverage
-0.04▼
2024 · 7.80
Debt ≤ 1 year
€14,632▲
2024 · €13,430
Debt > 1 year
€447
Income taxes
€191▲
2024 · €155
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 | €3,277 | €2,806 | €4,325 | €6,585 | €5,225 |
| Financial fixed assets | €1,500 | €50,000 | €8,000 | - | €5,000 |
| Depreciation and write-downs of the year | €4,415 | €4,379 | €4,968 | €4,371 | €3,414 |
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 | €3,407 | €4,250 | €4,192 | €4,415 | €4,379 | €4,968 | €4,371 | €3,414 | ▼ 21.9% |
| Other operating charges640/8 | - | - | - | €707 | €662 | €760 | €644 | €658 | ▲ 2.3% |
| Gross operating margin9900 | €29,582 | €39,268 | €48,804 | €30,376 | €213,074 | -€10,417 | €11,832 | €606 | ▼ 94.9% |
| Operating profit (loss)9901 | €19,718 | €34,551 | €43,803 | €25,254 | €208,033 | -€16,145 | €6,818 | -€3,465 | - |
| Financial income75/76B | - | - | - | €6 | €4,151 | €0 | €3 | €2,302 | ▲ 921× |
| Recurring financial income75 | €18 | - | €17 | €6 | €4,151 | €0 | €3 | €2,302 | ▲ 921× |
| Financial charges65/66B | - | - | - | €1,681 | €836 | €1,200 | €1,434 | €2,262 | ▲ 57.8% |
| Recurring financial charges65 | €779 | €1,194 | €1,543 | €1,309 | €836 | €1,200 | €1,434 | €1,340 | ▼ 6.5% |
| Non-recurring financial charges66B | - | - | - | €372 | - | - | - | €922 | - |
| Profit (loss) for the period before taxes9903 | €18,956 | €32,917 | €42,277 | €23,578 | €211,347 | -€17,345 | €5,387 | -€3,425 | - |
| Income taxes67/77 | €7,021 | €8,253 | €8,999 | €5,321 | €451 | €3,008 | €155 | €191 | ▲ 23.6% |
| Profit (loss) for the period9904 | €11,935 | €24,664 | €33,278 | €18,257 | €210,896 | -€20,353 | €5,232 | -€3,616 | - |
| Profit (loss) for the period to be appropriated9905 | €11,857 | €24,664 | €33,278 | €18,257 | €210,896 | -€20,353 | €5,232 | -€3,616 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €111,254 | €142,155 | €172,479 | €186,994 | €399,523 | €386,041 | €383,032 | €381,064 | ▼ 0.5% |
| Fixed assets21/28 | €17,408 | €42,857 | €61,404 | €61,394 | €61,465 | €68,822 | €71,036 | €76,926 | ▲ 8.3% |
| Tangible fixed assets22/27 | €4,501 | €6,001 | €14,548 | €13,038 | €11,465 | €10,822 | €13,036 | €13,926 | ▲ 6.8% |
| Land and buildings22 | - | - | - | - | - | - | €4,945 | €4,444 | ▼ 10.1% |
| Plant, machinery and equipment23 | - | - | - | €5,906 | €4,413 | €5,582 | €4,023 | €3,303 | ▼ 17.9% |
| Furniture and vehicles24 | - | - | - | €7,132 | €7,053 | €5,241 | €4,068 | €6,179 | ▲ 51.9% |
| Financial fixed assets28 | €12,906 | €36,856 | €46,856 | €48,356 | €50,000 | €58,000 | €58,000 | €63,000 | ▲ 8.6% |
| Current assets29/58 | €93,846 | €99,298 | €111,075 | €125,600 | €338,058 | €317,219 | €311,995 | €304,138 | ▼ 2.5% |
| Amounts receivable within one year40/41 | €42,755 | €51,149 | €52,989 | €56,789 | €217,041 | €222,136 | €220,457 | €226,675 | ▲ 2.8% |
| Trade receivables40 | - | - | - | €45,375 | €27,830 | €29,805 | €27,830 | €30,250 | ▲ 8.7% |
| Other amounts receivable41 | - | - | - | €11,414 | €189,211 | €192,331 | €192,627 | €196,425 | ▲ 2.0% |
| Current investments50/53 | - | - | - | - | - | - | €50,000 | €11,258 | ▼ 77.5% |
| Cash at bank and in hand54/58 | €51,091 | €48,149 | €57,422 | €68,070 | €121,017 | €95,083 | €41,538 | €64,117 | ▲ 54.4% |
| Deferred charges and accrued income490/1 | - | - | - | €742 | - | - | - | €2,088 | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €111,254 | €142,155 | €172,479 | €186,994 | €399,523 | €386,041 | €383,032 | €381,064 | ▼ 0.5% |
| Equity10/15 | €103,827 | €128,491 | €155,569 | €173,826 | €384,722 | €364,369 | €369,601 | €365,985 | ▼ 1.0% |
| Contributions10/11 | €6,200 | €6,200 | - | - | - | - | - | - | - |
| Reserves13 | €1,938 | €1,938 | €1,938 | €1,938 | €1,938 | €1,938 | €1,938 | €7,171 | ▲ 270% |
| 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 | = |
| Tax-exempt reserves132 | - | - | - | €78 | €78 | €78 | €78 | €78 | = |
| Distributable reserves133 | - | - | - | - | - | - | - | €5,232 | - |
| Profit (loss) carried forward14 | €95,688 | €120,352 | €153,631 | €171,888 | €382,784 | €362,431 | €367,663 | €358,814 | ▼ 2.4% |
| Amounts payable17/49 | €7,427 | €13,664 | €16,910 | €13,168 | €14,801 | €21,672 | €13,430 | €15,079 | ▲ 12.3% |
| Amounts payable after more than one year17 | - | €1,571 | - | - | - | - | - | €447 | - |
| Financial debts170/4 | - | - | - | - | - | - | - | €447 | - |
| Amounts payable within one year42/48 | €7,427 | €12,093 | €16,910 | €13,168 | €14,801 | €21,672 | €13,430 | €14,632 | ▲ 8.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €4,908 | €5,053 | €5,149 | €5,157 | €6,883 | ▲ 33.5% |
| Trade debts44 | - | €2,915 | €5,243 | €1,197 | - | €1,175 | €1,781 | €3,328 | ▲ 86.8% |
| Suppliers440/4 | - | - | - | €1,197 | - | €1,175 | €1,781 | €3,328 | ▲ 86.8% |
| Taxes, remuneration and social security45 | - | - | - | €1,275 | - | €4,295 | €3,864 | €4,421 | ▲ 14.4% |
| Taxes450/3 | - | - | - | €1,275 | - | €4,295 | €3,864 | €4,421 | ▲ 14.4% |
| Other amounts payable47/48 | - | - | - | €5,788 | €9,748 | €11,053 | €2,628 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,935 | €24,664 | €33,278 | €18,257 | €210,896 | -€20,353 | €5,232 | -€3,616 | - |
| + Depreciation and write-downs630 | €3,407 | €4,250 | €4,192 | €4,415 | €4,379 | €4,968 | €4,371 | €3,414 | ▼ 21.9% |
| Operating cash flow (approximation) | €15,342 | €28,913 | €37,471 | €22,672 | €215,275 | -€15,385 | €9,603 | -€203 | - |
| Investment in fixed assets (approximation) | - | -€29,699 | -€22,739 | -€4,405 | -€4,450 | -€12,325 | -€6,585 | -€9,304 | ▼ 41.3% |
| Change in cash | - | -€2,942 | €9,273 | €10,648 | €52,947 | -€25,934 | -€53,545 | €22,579 | - |
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, 6,908 companies had the same profile as KBSolutions has now. Two years later, 90.9% were still going and 1.1% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a small loss
90.9%
was still going
7.8%
stopped otherwise
1.1%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of KBSolutions itself is lower: < 0.1% within 12 months. It rests on far more data about KBSolutions 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.
| 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 6,908 companies, not a prediction for KBSolutions. 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 11 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 27-06-2026 | 2026-00209063 | |
| 31-12-2024 | micro format | 04-08-2025 | 2025-00355358 | |
| 31-12-2023 | micro format | 26-07-2024 | 2024-00286898 | |
| 31-12-2022 | micro format | 25-07-2023 | 2023-00269862 | |
| 31-12-2021 | micro format | 01-07-2022 | 2022-20118120 | |
| 31-12-2020 | micro format | 30-06-2021 | 2021-30200367 | |
| 31-12-2019 | micro format | 31-07-2020 | 2020-38900342 | |
| 31-12-2018 | micro format | 27-07-2019 | 2019-40900339 | |
| 31-12-2017 | micro format | 30-07-2018 | 2018-40800217 | |
| 31-12-2016 | micro format | 25-08-2017 | 2017-49500195 |