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KIME

Active
Private limited company (pre-2019)founded 1991active for 35 yearsHeerbaan(MAZ) 7, 1745 Opwijk, BelgiumKBO/BCE: BE 0442.501.429

Financials · financial year 2025, micro format

Annual accounts 2025 filed on 09-06-2026 PDF all 35 filings

Equity
-€19,054▼ 80.4%
2024 · -€10,560
Total assets
€6,450▼ 51.5%
2024 · €13,297
Net result
-€8,494▼ 4.9%
2024 · -€8,097
Working capital
-€22,065▼ 26.0%
2024 · -€17,508
Multi-year overview
2018 to 2025, 8 financial years
Operating result
-€8,111
▼ 5.2% 2025
20182025
Net result
-€8,494
▼ 4.9% 2025
lowest quarter of the sector
20182025
Equity
-€19,054
▼ 80.4% 2025
lowest quarter of the sector
20182025
Total assets
€6,450
▼ 51.5% 2025
lowest quarter of the sector
20182025
Debt
€25,504
▲ 6.9% 2025
20182025
Working capital
-€22,065
▼ 26.0% 2025
lowest quarter of the sector
20182025
Solvency
-295.4%
▼ 216.0pp 2025
lowest quarter of the sector
20182025
Current ratio
0.13
▼ 0.13 2025
lowest quarter of the sector
20182025
Return on assets (ROA)
-131.7%
▼ 70.8pp 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-€2,026--€2,028▼ 0.1%€53,838€75,730▲ 40.7%-€12,035-€11,667▲ 3.1%-€7,706▲ 33.9%-€8,111▼ 5.2%
Net result-€2,335--€2,110▲ 9.6%€53,654above the sector's middle half€69,550above the sector's middle half▲ 29.6%-€12,162below the sector's middle half-€12,140below the sector's middle half▲ 0.2%-€8,097below the sector's middle half▲ 33.3%-€8,494below the sector's middle half▼ 4.9%
Equity-€99,255--€101,366▼ 2.1%-€47,712below the sector's middle half▲ 52.9%€21,838within the sector's middle half€9,677within the sector's middle half▼ 55.7%-€2,463below the sector's middle half-€10,560below the sector's middle half▼ 329%-€19,054below the sector's middle half▼ 80.4%
Total assets€4,681-€3,856▼ 17.6%€24,643below the sector's middle half▲ 539%€68,428within the sector's middle half▲ 178%€38,399below the sector's middle half▼ 43.9%€21,879below the sector's middle half▼ 43.0%€13,297below the sector's middle half▼ 39.2%€6,450below the sector's middle half▼ 51.5%
Debt€103,936-€105,222▲ 1.2%€72,355▼ 31.2%€46,590▼ 35.6%€28,723▼ 38.3%€24,342▼ 15.3%€23,857▼ 2.0%€25,504▲ 6.9%
Working capital-€103,827--€104,915▼ 1.0%-€51,277below the sector's middle half▲ 51.1%€11,018within the sector's middle half€341within the sector's middle half▼ 96.9%-€11,037within the sector's middle half-€17,508below the sector's middle half▼ 58.6%-€22,065below the sector's middle half▼ 26.0%
Solvency-193.6%below the sector's middle half31.9%within the sector's middle half▲ 225.5pp25.2%within the sector's middle half▼ 6.7pp-11.3%below the sector's middle half▼ 36.5pp-79.4%below the sector's middle half▼ 68.2pp-295.4%below the sector's middle half▼ 216.0pp
Current ratio0.29below the sector's middle half1.30within the sector's middle half▲ 1.011.02within the sector's middle half▼ 0.290.50below the sector's middle half▼ 0.520.27below the sector's middle half▼ 0.230.13below the sector's middle half▼ 0.13
Return on assets (ROA)217.7%above the sector's middle half101.6%above the sector's middle half▼ 116.1pp-31.7%below the sector's middle half▼ 133.3pp-55.5%below the sector's middle half▼ 23.8pp-60.9%below the sector's middle half▼ 5.4pp-131.7%below the sector's middle half▼ 70.8pp
above within below The sector band is the middle half of the companies in Retail trade (NACE 47). 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 €8,111, larger than the loss of €7,706 in 2024.

Turnover and EBIT margin are not published. The micro format does not require them.

Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €6,450
Fixed assets €3,012 ▼ 56.7%
Current assets €3,439 ▼ 45.8%
Equity and liabilities
Equity-€19,054
Debt€25,504
Equity is negative. Debt (€25,504) exceeds the balance-sheet total (€6,450).
Key figures and ratios
2025 value · change against 2024
EBITDA
-€4,174▼
2024 · -€3,770
Cash flow
-€4,558▼
2024 · -€4,160
Interest coverage
-19.11▼
2024 · -16.58
Debt ≤ 1 year
€25,504▲
2024 · €23,857
Income taxes
€165▼
2024 · €174
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Investments

fixed assets acquired
Item20212022202320242025
Tangible fixed assets€20,711----
Depreciation and write-downs of the year€3,364€5,348€4,680€3,937€3,937

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 39 lines
Balance sheet Code20242025
Assets
Total assets20/58€13,297€6,450▼
Fixed assets21/28€6,948€3,012▼
Tangible fixed assets22/27€6,948€3,012▼
Plant, machinery and equipment23€1,668€1,248▼
Furniture and vehicles24€5,280€1,763▼
Current assets29/58€6,349€3,439▼
Amounts receivable within one year40/41€1,831€3,169▲
Trade receivables40€9€484▲
Other amounts receivable41€1,822€2,685▲
Cash at bank and in hand54/58€4,518€270▼
Equity and liabilities
Total equity and liabilities10/49€13,297€6,450▼
Equity10/15-€10,560-€19,054▼
Contributions10/11€29,342€29,342=
Reserves13€74€74=
Non-distributable reserves130/1€74€74=
Reserves not available under the articles1311€74€74=
Profit (loss) carried forward14-€39,976-€48,470▼
Amounts payable17/49€23,857€25,504▲
Amounts payable within one year42/48€23,857€25,504▲
Current portion of amounts payable after more than one year42€2,311-
Trade debts44-€17
Suppliers440/4-€17
Taxes, remuneration and social security45€332€158▼
Taxes450/3€332€158▼
Other amounts payable47/48€21,214€25,329▲
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€3,937€3,937=
Other operating charges640/8€566€582▲
Gross operating margin9900-€3,204-€3,592▼
Operating profit (loss)9901-€7,706-€8,111▼
Financial income75/76B€11-
Recurring financial income75€11-
Financial charges65/66B€227€218▼
Recurring financial charges65€227€218▼
Profit (loss) for the period before taxes9903-€7,922-€8,329▼
Income taxes67/77€174€165▼
Profit (loss) for the period9904-€8,097-€8,494▼
Profit (loss) for the period to be appropriated9905-€8,097-€8,494▼
Appropriation of the result
Profit (loss) to be appropriated9906-€39,976-€48,470▼
Profit (loss) brought forward from the previous period14P-€31,880-€39,976▼

The notes to these accounts have 4 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Source: Annual accounts 2025 (PDF), filed on 09-06-2026.

Line20182019202020212022202320242025Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1,022€1,022€1,150€3,364€5,348€4,680€3,937€3,937=
Other operating charges640/8---€591€512€765€566€582▲ 2.8%
Non-recurring operating charges66A-----€1,043---
Gross operating margin9900-€1,004-€658€55,397€79,686-€6,176-€5,179-€3,204-€3,592▼ 12.1%
Operating profit (loss)9901-€2,026-€2,028€53,838€75,730-€12,035-€11,667-€7,706-€8,111▼ 5.2%
Financial income75/76B---€23€386€2€11--
Recurring financial income75---€23€386€2€11--
Financial charges65/66B---€423€354€309€227€218▼ 3.9%
Recurring financial charges65€309€83€185€423€354€309€227€218▼ 3.9%
Profit (loss) for the period before taxes9903-€2,335-€2,110€53,654€75,330-€12,003-€11,974-€7,922-€8,329▼ 5.1%
Income taxes67/77---€5,780€159€166€174€165▼ 5.4%
Profit (loss) for the period9904-€2,335-€2,110€53,654€69,550-€12,162-€12,140-€8,097-€8,494▼ 4.9%
Profit (loss) for the period to be appropriated9905-€2,335-€2,110€53,654€69,550-€12,162-€12,140-€8,097-€8,494▼ 4.9%
Line20182019202020212022202320242025Change
Assets
Total assets20/58€4,681€3,856€24,643€68,428€38,399€21,879€13,297€6,450▼ 51.5%
Fixed assets21/28€4,572€3,550€3,565€20,912€15,564€10,885€6,948€3,012▼ 56.7%
Tangible fixed assets22/27€4,572€3,550€3,565€20,912€15,564€10,885€6,948€3,012▼ 56.7%
Plant, machinery and equipment23---€4,431€2,989€2,087€1,668€1,248▼ 25.2%
Furniture and vehicles24---€16,481€12,575€8,797€5,280€1,763▼ 66.6%
Current assets29/58€109€306€21,078€47,516€22,835€10,994€6,349€3,439▼ 45.8%
Amounts receivable within one year40/41-€160€6,837€10,467€1,765€1,175€1,831€3,169▲ 73.1%
Trade receivables40---€10,467€975-€9€484▲ 52×
Other amounts receivable41----€789€1,175€1,822€2,685▲ 47.4%
Cash at bank and in hand54/58€109€146€13,319€36,795€20,816€9,564€4,518€270▼ 94.0%
Deferred charges and accrued income490/1---€255€255€255---
Equity and liabilities
Total equity and liabilities10/49€4,681€3,856€24,643€68,428€38,399€21,879€13,297€6,450▼ 51.5%
Equity10/15-€99,255-€101,366-€47,712€21,838€9,677-€2,463-€10,560-€19,054▼ 80.4%
Contributions10/11€29,342€29,342-€29,342€29,342€29,342€29,342€29,342=
Reserves13€74€74€74€74€74€74€74€74=
Non-distributable reserves130/1---€74€74€74€74€74=
Reserves not available under the articles1311---€74€74€74€74€74=
Profit (loss) carried forward14-€128,671-€130,782-€77,128-€7,578-€19,740-€31,880-€39,976-€48,470▼ 21.2%
Amounts payable17/49€103,936€105,222€72,355€46,590€28,723€24,342€23,857€25,504▲ 6.9%
Amounts payable after more than one year17---€10,092€6,228€2,311---
Financial debts170/4---€10,092€6,228€2,311---
Amounts payable within one year42/48€103,936€105,222€72,355€36,498€22,494€22,031€23,857€25,504▲ 6.9%
Current portion of amounts payable after more than one year42---€3,810€3,863€3,918€2,311--
Trade debts44€424-€578€186€169€943-€17-
Suppliers440/4---€186€169€943-€17-
Taxes, remuneration and social security45---€7,985€315€214€332€158▼ 52.5%
Taxes450/3---€7,985€315€214€332€158▼ 52.5%
Other amounts payable47/48---€24,517€18,148€16,957€21,214€25,329▲ 19.4%
Line20182019202020212022202320242025Change
Profit (loss) for the period9904-€2,335-€2,110€53,654€69,550-€12,162-€12,140-€8,097-€8,494▼ 4.9%
+ Depreciation and write-downs630€1,022€1,022€1,150€3,364€5,348€4,680€3,937€3,937=
Operating cash flow (approximation)-€1,313-€1,088€54,804€72,915-€6,814-€7,460-€4,160-€4,558▼ 9.6%
Investment in fixed assets (approximation)-€0-€1,166-€20,711€0€0€0€0-
Change in cash-€37€13,173€23,476-€15,979-€11,251-€5,047-€4,248▲ 15.8%

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Historical observation

In July 2024, 6,619 companies had the same profile as KIME has now. Two years later, 84.5% were still going and 4.5% had gone bankrupt.

  • Micro
  • 20 years or older
  • negative equity
  • a loss of 10% of the balance sheet or more
84.5% was still going
10.0% stopped otherwise
4.5% went bankrupt

Another 1.0% stopped without a precise date, possibly only after those two years.

That fits the bankruptcy probability of KIME itself: 1.7% 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.

The companies in ten equal groups, from the lowest to the highest expected share
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 6,619 companies, not a prediction for KIME. 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 35 filings with the National Bank
Financial year Type Filed Reference Document
31-12-2025 micro format 09-06-2026 2026-00145586 PDF
31-12-2024 micro format 19-06-2025 2025-00155055 PDF
31-12-2023 micro format 08-08-2024 2024-00335344 PDF
31-12-2022 micro format 08-10-2023 2023-00476227 PDF
31-12-2021 micro format 31-08-2022 2022-20368352 PDF
31-12-2020 micro format 05-08-2021 2021-46500482 PDF
31-12-2019 micro format 12-08-2020 2020-40400234 PDF
31-12-2018 micro format 09-10-2019 2019-70000584 PDF
31-12-2017 micro format 09-11-2018 2018-71900559 PDF
31-12-2016 abbreviated format 28-07-2017 2017-39800225 PDF

Show all 35 filings

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