KDC MANAGEMENT
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 12-01-2026 PDF all 16 filings
Turnover
≈ €170,000
Estimated: probably between €130,000 and €220,000
Total assets
€133,829▼ 39.6%
2024 · €221,399
Net result
-€11,537
2024 · €7,929
Working capital
€91,631▼ 14.8%
2024 · €107,491
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€11,001
2025
20192025
Net result
-€11,537
2025
lowest quarter of the sector
20192025
Equity
€100,002
▼ 10.3%
2025
middle half of the sector
20192025
Total assets
€133,829
▼ 39.6%
2025
middle half of the sector
20192025
Debt
€33,827
▼ 69.2%
2025
20192025
Working capital
€91,631
▼ 14.8%
2025
middle half of the sector
20192025
Solvency
74.7%
▲ 24.3pp
2025
middle half of the sector
20192025
Current ratio
3.71
▲ 1.64
2025
middle half of the sector
20192025
Return on assets (ROA)
-8.6%
▼ 12.2pp
2025
lowest quarter of the sector
20192025
Staff (FTE)
2
=
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€17,911-€32,911▲ 83.7%€30,263▼ 8.0%€29,640▼ 2.1%-€22,478€41,245-€11,001
Net result€17,852-€26,367within the sector's middle half▲ 47.7%€22,356within the sector's middle half▼ 15.2%€21,790within the sector's middle half▼ 2.5%€11,615within the sector's middle half▼ 46.7%€7,929within the sector's middle half▼ 31.7%-€11,537below the sector's middle half
Equity€21,482-€47,849within the sector's middle half▲ 123%€70,204within the sector's middle half▲ 46.7%€91,995within the sector's middle half▲ 31.0%€103,609within the sector's middle half▲ 12.6%€111,539within the sector's middle half▲ 7.7%€100,002within the sector's middle half▼ 10.3%
Total assets€56,371-€76,006below the sector's middle half▲ 34.8%€204,982within the sector's middle half▲ 170%€225,169within the sector's middle half▲ 9.8%€203,134within the sector's middle half▼ 9.8%€221,399within the sector's middle half▲ 9.0%€133,829within the sector's middle half▼ 39.6%
Debt€34,890-€28,157▼ 19.3%€134,778▲ 379%€133,174▼ 1.2%€99,525▼ 25.3%€109,860▲ 10.4%€33,827▼ 69.2%
Working capital€18,390-€45,599within the sector's middle half▲ 148%€69,121within the sector's middle half▲ 51.6%€176,733above the sector's middle half▲ 156%€87,195within the sector's middle half▼ 50.7%€107,491within the sector's middle half▲ 23.3%€91,631within the sector's middle half▼ 14.8%
Solvency38.1%-63.0%within the sector's middle half▲ 24.8pp34.2%within the sector's middle half▼ 28.7pp40.9%within the sector's middle half▲ 6.6pp51.0%within the sector's middle half▲ 10.1pp50.4%within the sector's middle half▼ 0.6pp74.7%within the sector's middle half▲ 24.3pp
Current ratio1.53-2.62within the sector's middle half▲ 1.091.53within the sector's middle half▼ 1.094.95above the sector's middle half▲ 3.421.88within the sector's middle half▼ 3.072.07within the sector's middle half▲ 0.203.71within the sector's middle half▲ 1.64
Return on assets (ROA)31.7%-34.7%above the sector's middle half▲ 3.0pp10.9%within the sector's middle half▼ 23.8pp9.7%within the sector's middle half▼ 1.2pp5.7%within the sector's middle half▼ 4.0pp3.6%within the sector's middle half▼ 2.1pp-8.6%below the sector's middle half▼ 12.2pp
Staff (FTE)3.2above the sector's middle half2.1▼ 34.4%2▼ 4.8%2=2=2=
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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 €11,001, after a profit of €41,245 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 €133,829
Fixed assets
€8,371 ▼ 39.1%
Current assets
€125,458 ▼ 39.6%
Equity and liabilities €133,829
Equity
€100,002 ▼ 10.3%
Debt
€33,827 ▼ 69.2%
Debt's share of the balance-sheet total falls from 49.6% to 25.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€5,404▼
2024 · €47,834
Cash flow
-€5,939▼
2024 · €14,518
Quick ratio
3.11▲
2024 · 1.85
Debt to equity
0.34▼
2024 · 0.98
ROE
-11.5%▼
2024 · 7.1%
Interest coverage
-10.09▼
2024 · 10.05
Debt ≤ 1 year
€33,827▼
2024 · €100,159
Income taxes
€0▼
2024 · €2,717
Staff costs
€85,975▼
2024 · €97,095
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 2 | 2 | 2 | 2 |
| full-time | 2 | 2 | 2 | 2 |
| in full-time equivalents | 2 | 2 | 2 | 2 |
| Average over the year, in full-time equivalents | 2 | 2 | 2 | 2 |
| On a permanent contract | 2 | 2 | 2 | 2 |
| Joined | 0 | - | - | - |
| Left | 1 | - | - | - |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | €17,496 | €3,900 | - |
| Financial fixed assets | - | - | - | €220 |
| Depreciation and write-downs of the year | €1,528 | €4,665 | €6,589 | €5,597 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €78,608 | €93,399 | €97,095 | €85,975 | ▼ 11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €846 | €750 | €1,528 | €1,528 | €4,665 | €6,589 | €5,597 | ▼ 15.0% |
| Other operating charges640/8 | - | - | - | €679 | €2,255 | €1,724 | €2,498 | ▲ 44.9% |
| Gross operating margin9900 | €78,281 | €123,190 | €114,482 | €110,454 | €77,840 | €146,653 | €83,069 | ▼ 43.4% |
| Operating profit (loss)9901 | €17,911 | €32,911 | €30,263 | €29,640 | -€22,478 | €41,245 | -€11,001 | - |
| Financial income75/76B | - | - | - | €1 | €38,873 | €0 | €0 | ▲ 30.0% |
| Recurring financial income75 | €45 | €24 | €22 | €1 | €38,873 | €0 | €0 | ▲ 30.0% |
| Non-recurring financial income76B | - | - | - | - | €38,873 | - | - | - |
| Financial charges65/66B | - | - | - | €342 | €685 | €30,599 | €536 | ▼ 98.2% |
| Recurring financial charges65 | €104 | €200 | €289 | €342 | €685 | €4,762 | €536 | ▼ 88.8% |
| Non-recurring financial charges66B | - | - | - | - | - | €25,838 | - | - |
| Profit (loss) for the period before taxes9903 | €17,852 | €32,735 | €29,996 | €29,299 | €15,710 | €10,646 | -€11,537 | - |
| Income taxes67/77 | - | €6,368 | €7,641 | €7,509 | €4,095 | €2,717 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €17,852 | €26,367 | €22,356 | €21,790 | €11,615 | €7,929 | -€11,537 | - |
| Profit (loss) for the period to be appropriated9905 | €17,852 | €26,367 | €22,356 | €21,790 | €11,615 | €7,929 | -€11,537 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €56,371 | €76,006 | €204,982 | €225,169 | €203,134 | €221,399 | €133,829 | ▼ 39.6% |
| Fixed assets21/28 | €3,092 | €2,250 | €5,226 | €3,655 | €16,414 | €13,748 | €8,371 | ▼ 39.1% |
| Tangible fixed assets22/27 | €3,092 | €2,250 | €4,610 | €3,083 | €15,914 | €13,225 | €7,628 | ▼ 42.3% |
| Plant, machinery and equipment23 | - | - | - | €2,333 | €2,129 | €4,931 | €3,119 | ▼ 36.8% |
| Furniture and vehicles24 | - | - | - | €750 | €13,785 | €8,294 | €4,509 | ▼ 45.6% |
| Financial fixed assets28 | - | - | €616 | €572 | €500 | €523 | €743 | ▲ 42.1% |
| Current assets29/58 | €53,280 | €73,756 | €199,756 | €221,514 | €186,720 | €207,650 | €125,458 | ▼ 39.6% |
| Amounts receivable after more than one year29 | - | - | - | - | €20,557 | €1,944 | €1,694 | ▼ 12.9% |
| Trade receivables290 | - | - | - | - | €20,557 | €1,944 | €1,694 | ▼ 12.9% |
| Stocks and contracts in progress3 | €19,102 | - | €35,715 | €131,587 | €25,495 | €22,334 | €20,269 | ▼ 9.2% |
| Stocks30/36 | - | - | - | €131,587 | €25,495 | €22,334 | €20,269 | ▼ 9.2% |
| Amounts receivable within one year40/41 | €32,080 | €38,214 | €146,728 | €77,928 | €101,265 | €179,549 | €79,532 | ▼ 55.7% |
| Trade receivables40 | - | - | - | €66,163 | €84,741 | €165,417 | €72,032 | ▼ 56.5% |
| Other amounts receivable41 | - | - | - | €11,765 | €16,524 | €14,132 | €7,500 | ▼ 46.9% |
| Cash at bank and in hand54/58 | €2,098 | €31,249 | €11,009 | €10,285 | €30,637 | €2,923 | €22,728 | ▲ 678% |
| Deferred charges and accrued income490/1 | - | - | - | €1,715 | €8,765 | €900 | €1,235 | ▲ 37.2% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €56,371 | €76,006 | €204,982 | €225,169 | €203,134 | €221,399 | €133,829 | ▼ 39.6% |
| Equity10/15 | €21,482 | €47,849 | €70,204 | €91,995 | €103,609 | €111,539 | €100,002 | ▼ 10.3% |
| Contributions10/11 | €12,400 | - | - | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €1,860 | €35,449 | €57,804 | €79,595 | €91,209 | €99,139 | €99,139 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | - | €77,735 | €89,349 | €99,139 | €99,139 | = |
| Profit (loss) carried forward14 | €7,222 | - | - | - | - | - | -€11,537 | - |
| Amounts payable17/49 | €34,890 | €28,157 | €134,778 | €133,174 | €99,525 | €109,860 | €33,827 | ▼ 69.2% |
| Amounts payable after more than one year17 | - | - | €4,143 | €88,393 | - | €9,701 | - | - |
| Financial debts170/4 | - | - | - | €88,393 | - | €9,701 | - | - |
| Amounts payable within one year42/48 | €34,890 | €28,157 | €130,635 | €44,781 | €99,525 | €100,159 | €33,827 | ▼ 66.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €2,508 | €2,521 | €2,535 | €2,524 | ▼ 0.4% |
| Financial debts43 | - | - | - | - | €291 | €1,727 | €1,779 | ▲ 3.0% |
| Other loans439 | - | - | - | - | €291 | €1,727 | €1,779 | ▲ 3.0% |
| Trade debts44 | €31,983 | €21,441 | €115,263 | €39,448 | €91,510 | €91,777 | €18,432 | ▼ 79.9% |
| Suppliers440/4 | - | - | - | €39,448 | €91,510 | €91,777 | €18,432 | ▼ 79.9% |
| Taxes, remuneration and social security45 | - | - | - | €2,825 | €5,202 | €4,120 | €11,092 | ▲ 169% |
| Taxes450/3 | - | - | - | €70 | €238 | €10 | €6,504 | ▲ 682× |
| Remuneration and social security454/9 | - | - | - | €2,756 | €4,964 | €4,111 | €4,588 | ▲ 11.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,852 | €26,367 | €22,356 | €21,790 | €11,615 | €7,929 | -€11,537 | - |
| + Depreciation and write-downs630 | €846 | €750 | €1,528 | €1,528 | €4,665 | €6,589 | €5,597 | ▼ 15.0% |
| Operating cash flow (approximation) | €18,698 | €27,117 | €23,883 | €23,318 | €16,280 | €14,518 | -€5,939 | - |
| Investment in fixed assets (approximation) | - | €92 | -€4,504 | €44 | -€17,424 | -€3,923 | -€220 | ▲ 94.4% |
| Change in cash | - | €29,151 | -€20,240 | -€724 | €20,353 | -€27,715 | €19,805 | - |
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 KDC MANAGEMENT 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.
That fits the bankruptcy probability of KDC MANAGEMENT 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 6,908 companies, not a prediction for KDC MANAGEMENT. 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 16 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 12-01-2026 | 2026-00005995 | |
| 30-06-2024 | micro format | 27-12-2024 | 2024-00625707 | |
| 30-06-2023 | micro format | 23-01-2024 | 2024-00004901 | |
| 30-06-2022 | micro format | 13-12-2022 | 2022-20536293 | |
| 30-06-2021 | micro format | 28-01-2022 | 2022-03200202 | |
| 30-06-2020 | micro format | 29-09-2020 | 2020-56600373 | |
| 30-06-2019 | micro format | 17-01-2020 | 2020-01500437 | |
| 30-06-2018 | micro format | 25-01-2019 | 2019-02400272 | |
| 30-06-2017 | micro format | 06-02-2018 | 2018-04500105 | |
| 30-06-2016 | abbreviated format | 20-12-2016 | 2016-70700504 |