KEYCOACHING
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 28-04-2026 PDF all 29 filings
Turnover
≈ €160,000
Estimated: probably between €82,000 and €290,000
Total assets
€106,243▲ 74.2%
2024 · €60,981
Net result
€38,871
2024 · -€4,063
Working capital
€58,935▲ 209%
2024 · €19,089
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€39,040
2025
20192025
Net result
€38,871
2025
middle half of the sector
20192025
Equity
€61,665
▲ 171%
2025
lowest quarter of the sector
20192025
Total assets
€106,243
▲ 74.2%
2025
lowest quarter of the sector
20192025
Debt
€44,578
▲ 16.7%
2025
20192025
Working capital
€58,935
▲ 209%
2025
middle half of the sector
20192025
Solvency
58.0%
▲ 20.7pp
2025
middle half of the sector
20192025
Current ratio
2.32
▲ 0.82
2025
middle half of the sector
20192025
Return on assets (ROA)
36.6%
▲ 43.2pp
2025
highest quarter of the sector
20192025
Staff (FTE)
0
2025
lowest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€73,570-€11,241▼ 84.7%-€19,453€46,255€8,144▼ 82.4%-€4,145€39,040
Net result€59,327--€96,643below the sector's middle half-€20,964below the sector's middle half▲ 78.3%€46,033within the sector's middle half€7,991within the sector's middle half▼ 82.6%-€4,063within the sector's middle half€38,871within the sector's middle half
Equity€90,440--€6,204below the sector's middle half-€27,167below the sector's middle half▼ 338%€18,866below the sector's middle half€26,857below the sector's middle half▲ 42.4%€22,794below the sector's middle half▼ 15.1%€61,665below the sector's middle half▲ 171%
Total assets€244,327-€88,590below the sector's middle half▼ 63.7%€43,062below the sector's middle half▼ 51.4%€87,608below the sector's middle half▲ 103%€82,631below the sector's middle half▼ 5.7%€60,981below the sector's middle half▼ 26.2%€106,243below the sector's middle half▲ 74.2%
Debt€153,887-€94,794▼ 38.4%€70,230▼ 25.9%€68,743▼ 2.1%€55,774▼ 18.9%€38,186▼ 31.5%€44,578▲ 16.7%
Working capital-€12,260--€1,622below the sector's middle half▲ 86.8%-€29,837below the sector's middle half▼ 1,740%€17,160below the sector's middle half€21,854below the sector's middle half▲ 27.4%€19,089below the sector's middle half▼ 12.7%€58,935within the sector's middle half▲ 209%
Solvency37.0%--7.0%below the sector's middle half▼ 44.0pp-63.1%below the sector's middle half▼ 56.1pp21.5%below the sector's middle half▲ 84.6pp32.5%below the sector's middle half▲ 11.0pp37.4%within the sector's middle half▲ 4.9pp58.0%within the sector's middle half▲ 20.7pp
Current ratio0.89-0.98below the sector's middle half▲ 0.090.58below the sector's middle half▼ 0.401.25below the sector's middle half▲ 0.671.39below the sector's middle half▲ 0.141.50within the sector's middle half▲ 0.112.32within the sector's middle half▲ 0.82
Return on assets (ROA)24.3%--109.1%below the sector's middle half▼ 133.4pp-48.7%below the sector's middle half▲ 60.4pp52.5%above the sector's middle half▲ 101.2pp9.7%above the sector's middle half▼ 42.9pp-6.7%below the sector's middle half▼ 16.3pp36.6%above the sector's middle half▲ 43.2pp
Staff (FTE)0below the sector's middle half0below the sector's middle half0below the sector's middle half
above
within
below
The sector band is the middle half of the companies in Education (NACE 85). 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 profit of €39,040, after a loss of €4,145 in 2024.
Turnover and EBIT margin are not published. The abbreviated 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 €106,243
Fixed assets
€2,730 ▼ 26.3%
Current assets
€103,512 ▲ 80.7%
Equity and liabilities €106,243
Equity
€61,665 ▲ 171%
Debt
€44,578 ▲ 16.7%
Debt's share of the balance-sheet total falls from 62.6% to 42.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€40,015▲
2024 · -€3,147
Cash flow
€39,846▲
2024 · -€3,065
Debt to equity
0.72▼
2024 · 1.68
ROE
63.0%▲
2024 · -17.8%
Interest coverage
over 100▲
2024 · -20.59
Debt ≤ 1 year
€44,578▲
2024 · €38,186
Income taxes
€24▼
2024 · €137
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Mortgages, amount registered | €25,000 | - | - | - | - |
| Carrying value of the mortgaged assets | €0 | - | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,678 | - | €5,377 | - | - |
| Depreciation and write-downs of the year | €8,518 | €964 | €1,002 | €998 | €975 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €0 | - | €500 | €0 | €5,375 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €25,841 | €24,761 | €8,518 | €964 | €1,002 | €998 | €975 | ▼ 2.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | -€12,652 | €0 | - | - | - | - |
| Other operating charges640/8 | - | - | €1,785 | €281 | €753 | €738 | €623 | ▼ 15.6% |
| Non-recurring operating charges66A | - | - | €1,053 | €0 | €726 | €299 | €2,453 | ▲ 720% |
| Gross operating margin9900 | €101,118 | €50,216 | -€20,750 | €47,500 | €10,624 | -€2,110 | €43,091 | - |
| Operating profit (loss)9901 | €73,570 | €11,241 | -€19,453 | €46,255 | €8,144 | -€4,145 | €39,040 | - |
| Financial income75/76B | - | - | €0 | €259 | €332 | €372 | €162 | ▼ 56.3% |
| Recurring financial income75 | €4 | €104 | €0 | €259 | €332 | €372 | €162 | ▼ 56.3% |
| Financial charges65/66B | - | - | €1,468 | €332 | €353 | €153 | €307 | ▲ 101% |
| Recurring financial charges65 | €2,718 | €2,869 | €1,468 | €332 | €353 | €153 | €307 | ▲ 101% |
| Non-recurring financial charges66B | - | - | €0 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €70,857 | -€96,524 | -€20,921 | €46,183 | €8,123 | -€3,926 | €38,895 | - |
| Income taxes67/77 | €11,529 | €120 | €43 | €149 | €132 | €137 | €24 | ▼ 82.5% |
| Profit (loss) for the period9904 | €59,327 | -€96,643 | -€20,964 | €46,033 | €7,991 | -€4,063 | €38,871 | - |
| Profit (loss) for the period to be appropriated9905 | €59,327 | -€96,643 | -€20,964 | €46,033 | €7,991 | -€4,063 | €38,871 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €244,327 | €88,590 | €43,062 | €87,608 | €82,631 | €60,981 | €106,243 | ▲ 74.2% |
| Fixed assets21/28 | €140,323 | €10,562 | €2,669 | €1,706 | €5,003 | €3,706 | €2,730 | ▼ 26.3% |
| Tangible fixed assets22/27 | €35,323 | €10,562 | €2,669 | €1,706 | €5,003 | €3,706 | €2,730 | ▼ 26.3% |
| Land and buildings22 | - | - | €0 | - | - | - | - | - |
| Plant, machinery and equipment23 | - | - | €0 | - | - | - | - | - |
| Furniture and vehicles24 | - | - | €2,669 | €1,706 | €5,003 | €3,706 | €2,730 | ▼ 26.3% |
| Financial fixed assets28 | €105,000 | - | - | - | - | - | - | - |
| Current assets29/58 | €104,004 | €78,028 | €40,393 | €85,903 | €77,628 | €57,275 | €103,512 | ▲ 80.7% |
| Amounts receivable within one year40/41 | €82,109 | €24,413 | €29,645 | €51,816 | €27,477 | €12,373 | €30,901 | ▲ 150% |
| Trade receivables40 | - | - | €13,355 | €50,680 | €26,871 | €11,253 | €25,369 | ▲ 125% |
| Other amounts receivable41 | - | - | €16,290 | €1,137 | €606 | €1,120 | €5,531 | ▲ 394% |
| Cash at bank and in hand54/58 | €21,200 | €52,545 | €9,860 | €33,552 | €49,643 | €43,760 | €71,700 | ▲ 63.8% |
| Deferred charges and accrued income490/1 | - | - | €888 | €534 | €508 | €1,142 | €911 | ▼ 20.2% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €244,327 | €88,590 | €43,062 | €87,608 | €82,631 | €60,981 | €106,243 | ▲ 74.2% |
| Equity10/15 | €90,440 | -€6,204 | -€27,167 | €18,866 | €26,857 | €22,794 | €61,665 | ▲ 171% |
| Contributions10/11 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €71,810 | €6,310 | €6,310 | €6,310 | €6,310 | €4,194 | €43,065 | ▲ 927% |
| Non-distributable reserves130/1 | - | - | €6,197 | €6,197 | €6,197 | €0 | - | - |
| Reserves not available under the articles1311 | - | - | - | €6,197 | €6,197 | €0 | - | - |
| Own shares acquired1312 | - | - | €6,197 | - | - | - | - | - |
| Tax-exempt reserves132 | - | - | €112 | €112 | €112 | €112 | €112 | = |
| Distributable reserves133 | - | - | - | - | - | €4,082 | €42,953 | ▲ 952% |
| Profit (loss) carried forward14 | €30 | -€31,113 | -€52,077 | -€6,044 | €1,947 | €0 | - | - |
| Amounts payable17/49 | €153,887 | €94,794 | €70,230 | €68,743 | €55,774 | €38,186 | €44,578 | ▲ 16.7% |
| Amounts payable after more than one year17 | €37,623 | €15,144 | €0 | - | - | - | - | - |
| Financial debts170/4 | - | - | €0 | - | - | - | - | - |
| Amounts payable within one year42/48 | €116,264 | €79,650 | €70,230 | €68,743 | €55,774 | €38,186 | €44,578 | ▲ 16.7% |
| Current portion of amounts payable after more than one year42 | - | - | €15,144 | €0 | - | - | - | - |
| Financial debts43 | - | - | €77 | €140 | €0 | - | - | - |
| Credit institutions430/8 | - | - | €77 | €140 | €0 | - | - | - |
| Trade debts44 | €8,271 | €18,401 | €16,829 | €340 | €1,401 | €26 | €2,117 | ▲ 83× |
| Suppliers440/4 | - | - | €16,829 | €340 | €1,401 | €26 | €2,117 | ▲ 83× |
| Taxes, remuneration and social security45 | - | - | €1,461 | €149 | €6,348 | €137 | €4,462 | ▲ 33× |
| Taxes450/3 | - | - | €1,461 | €149 | €6,348 | €137 | €4,462 | ▲ 33× |
| Other amounts payable47/48 | - | - | €36,719 | €68,113 | €48,024 | €38,024 | €37,999 | ▼ 0.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €59,327 | -€96,643 | -€20,964 | €46,033 | €7,991 | -€4,063 | €38,871 | - |
| + Depreciation and write-downs630 | €25,841 | €24,761 | €8,518 | €964 | €1,002 | €998 | €975 | ▼ 2.3% |
| Operating cash flow (approximation) | €85,168 | -€71,883 | -€12,446 | €46,997 | €8,993 | -€3,065 | €39,846 | - |
| Investment in fixed assets (approximation) | - | €105,000 | -€625 | €0 | -€4,299 | €299 | €0 | ▼ 100% |
| Change in cash | - | €31,345 | -€42,685 | €23,692 | €16,091 | -€5,883 | €27,940 | - |
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, 31,368 companies had the same profile as KEYCOACHING has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of KEYCOACHING 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 31,368 companies, not a prediction for KEYCOACHING. 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 29 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 28-04-2026 | 2026-00089978 | |
| 30-09-2024 | abbreviated format | 14-04-2025 | 2025-00068942 | |
| 30-09-2023 | abbreviated format | 30-04-2024 | 2024-00075522 | |
| 30-09-2022 | abbreviated format | 27-04-2023 | 2023-00067735 | |
| 30-09-2021 | abbreviated format | 11-04-2022 | 2022-20002024 | |
| 30-09-2020 | abbreviated format | 30-04-2021 | 2021-13500270 | |
| 30-09-2019 | abbreviated format | 30-04-2020 | 2020-10800407 | |
| 30-09-2018 | abbreviated format | 08-04-2019 | 2019-09200078 | |
| 30-09-2017 | abbreviated format | 16-04-2018 | 2018-10000010 | |
| 30-09-2016 | abbreviated format | 10-04-2017 | 2017-09100127 |