Skip to content

KONVERT

Active
Public limited companyfounded 1968active for 58 yearsBohemenberg(Kor) 23 A, 8500 Kortrijk, BelgiumKBO/BCE: BE 0405.423.970

Financials · financial year 2025, full format

Annual accounts 2025 filed on 15-07-2026 at the NBB all 49 filings

Amounts without an identifiable currency are taken as euros.

Turnover
€5.4m▼ 10.7%
2024 · €6.0m
EBIT margin
3.0%▼ 3.0pp
2024 · 6.0%
Net result
€194,597▼ 53.8%
2024 · €421,059
Working capital
€6.5m▼ 17.9%
2024 · €8.0m
Trend over the years

2021 to 2025, 5 financial years 2018 to 2025, 8 financial years

The operating result for 2025 is 55% lower than in 2024 and the lowest since 2021.

Turnover€5.4m 2025 Operating result€0.2m 2025 Net result€0.2m 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Turnover€8.6m€7.9m▼ 8.4%€5.9m▼ 25.5%€6.0m▲ 1.9%€5.4m▼ 10.7%
Operating result€2.4m-€1.7m▼ 27.8%€2.2m▲ 30.9%€1.8m▼ 21.4%€1.1m▼ 36.0%€0.2m▼ 78.5%€0.4m▲ 49.6%€0.2m▼ 55.1%
Net result€1.5m-€1.0m▼ 35.1%€1.4mabove the sector's middle half▲ 48.0%€1.1mabove the sector's middle half▼ 25.4%€0.7mabove the sector's middle half▼ 33.9%€0.6mabove the sector's middle half▼ 11.5%€0.4mabove the sector's middle half▼ 32.3%€0.2mwithin the sector's middle half▼ 53.8%
EBIT margin20.3%14.2%▼ 6.1pp4.1%▼ 10.1pp6.0%▲ 1.9pp3.0%▼ 3.0pp
Equity€18.4m-€19.3m▲ 5.2%€20.8mabove the sector's middle half▲ 7.4%€21.4mabove the sector's middle half▲ 2.8%€21.7mabove the sector's middle half▲ 1.6%€22.1mabove the sector's middle half▲ 1.8%€22.3mabove the sector's middle half▲ 1.0%€22.4mabove the sector's middle half▲ 0.2%
Total assets€29.8m-€30.8m▲ 3.5%€30.7mabove the sector's middle half▼ 0.4%€32.1mabove the sector's middle half▲ 4.5%€27.0mabove the sector's middle half▼ 15.9%€28.4mabove the sector's middle half▲ 5.3%€27.0mabove the sector's middle half▼ 4.7%€27.0mabove the sector's middle half=
Debt€11.4m-€11.5m▲ 0.8%€9.9m▼ 13.6%€10.7m▲ 7.9%€5.3m▼ 50.9%€6.3m▲ 19.9%€4.7m▼ 24.7%€4.7m▼ 1.4%
Working capital€12.9m-€8.6m▼ 33.4%€10.0mabove the sector's middle half▲ 16.1%€10.7mabove the sector's middle half▲ 7.9%€7.2mabove the sector's middle half▼ 33.3%€7.6mabove the sector's middle half▲ 5.4%€8.0mabove the sector's middle half▲ 5.4%€6.5mabove the sector's middle half▼ 17.9%
Solvency61.7%-62.7%▲ 1.0pp67.7%within the sector's middle half▲ 4.9pp66.6%within the sector's middle half▼ 1.1pp80.5%above the sector's middle half▲ 13.9pp77.8%above the sector's middle half▼ 2.7pp82.5%above the sector's middle half▲ 4.7pp82.7%above the sector's middle half▲ 0.2pp
Current ratio7.42-4.48▼ 2.948.61above the sector's middle half▲ 4.135.35above the sector's middle half▼ 3.266.14above the sector's middle half▲ 0.793.67above the sector's middle half▼ 2.475.78above the sector's middle half▲ 2.114.27above the sector's middle half▼ 1.50
Return on assets (ROA)5.0%-3.1%▼ 1.9pp4.6%within the sector's middle half▲ 1.5pp3.3%within the sector's middle half▼ 1.3pp2.6%within the sector's middle half▼ 0.7pp2.2%within the sector's middle half▼ 0.4pp1.6%within the sector's middle half▼ 0.6pp0.7%within the sector's middle half▼ 0.8pp
Staff (FTE)20.8-22.6▲ 8.7%26above the sector's middle half▲ 15.0%51.9above the sector's middle half▲ 99.6%38.5above the sector's middle half▼ 25.8%25.9above the sector's middle half▼ 32.7%38.9above the sector's middle half▲ 50.2%35.3above the sector's middle half▼ 9.3%
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.
Large changes and their cause
  • 2021 Staff (FTE) +100% on 2020. The accounts now follow the full format, last year the abbreviated format.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €27.0m
Fixed assets €18.5m ▲ 6.2%
Current assets €8.5m ▼ 11.3%
Equity and liabilities €27.0m
Equity €22.4m ▲ 0.2%
Debt €4.7m ▼ 1.4%
Debt's share of the balance-sheet total falls from 17.5% to 17.3%. Equity is higher and debt is lower.
Key figures and ratios
2025 value · change against 2024
EBITDA
€698,891▼
2024 · €968,798
Cash flow
€731,285▼
2024 · €1.0m
Debt to equity
0.21▼
2024 · 0.21
ROE
0.9%▼
2024 · 1.9%
Interest coverage
12.90▼
2024 · 15.51
Debt ≤ 1 year
€2.0m▲
2024 · €1.7m
Debt > 1 year
€2.7m▼
2024 · €3.1m
Income taxes
€86,101▼
2024 · €160,253
Customer credit
55 days▼
2024 · 62 days
Supplier credit
2343 days▲
2024 · 889 days
Staff costs
€2.1m▼
2024 · €2.3m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Comparable companies

These companies have the same main activity as KONVERT: activities of head offices (NACE 70100). They are comparable in size and age: total assets between €11m and €60m, founded between 1973 and 1992.

CompanyFoundedTotal assetsEquityTurnoverNet resultFTEFinancial year
KONVERT Kortrijk1968€27.0m€22.4m€5.4m€0.2m35.32025
Intercommunale voor Ontwikkeling van het Gewest Mechelen en Omgeving Mechelen1973€25.4m€5.9m€6.0m€0.003m57.32025
FACILICOM SERVICES GROUP BELGIUM Antwerpen1985€44.2m€33.5m€11.0m€0.9m63.52025
INGA Deerlijk1992€32.1m€18.1m€2.4m-€0.9m18.72025
MONUMENT GROUP Ingelmunster1989€60.4m€25.9m€5.0m€4.9m15.22025
VANDEPUTTE SAFETY INTERNATIONAL Boechout1990€40.0m€19.3m€11.6m€0.5m55.42025
BEHEER VAN TURNHOUT Kontich1988€10.8m€7.4m€5.1m€0.2m19.52025

They were chosen from the 3,691 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity

Companies with the same profile, two years later

Historical observation

In July 2024, 14,766 companies had the same profile as KONVERT has now. Two years later, 0.2% had gone bankrupt and 96.2% were still going.

  • Small
  • 20 years or older
  • solvency 30% or more
  • a profit under 5% of the balance sheet
0.2% went bankrupt
3.5% stopped otherwise
96.2% was still going

Another 0.1% stopped without a precise date, possibly only after those two years.

That fits the bankruptcy probability of KONVERT itself: 0.1% within 12 months.

Test of the method

The method was tested on the 497,445 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 14,766 companies, not a prediction for KONVERT. 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.

Subsidies and aid

Flemish government

2022 · 2 entries · €1,083 awarded · €1,083 paid
Schemes
1 entry · €934 · €934 paid · Departement Werk en Sociale Economie
1 entry · €149 · €149 paid · Departement Werk en Sociale Economie
Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 81 lines

Source: Annual accounts 2025 at the NBB, filed on 15-07-2026.

Balance sheet Code20242025
Assets
Total assets20/58€27.0m€27.0m=
Fixed assets21/28€17.4m€18.5m▲
Intangible fixed assets21€0.001m€0.002m▲
Tangible fixed assets22/27€9.6m€9.0m▼
Land and buildings22€8.9m€8.5m▼
Furniture and vehicles24€0.6m€0.5m▼
Financial fixed assets28€7.9m€9.5m▲
Affiliated companies280/1€7.8m€9.5m▲
Participating interests280€7.8m€7.8m=
Amounts receivable281-€1.6m
Other financial fixed assets284/8€0.008m€0.008m=
Shares284€0.007m€0.007m=
Amounts receivable and cash guarantees285/8€248€248=
Current assets29/58€9.6m€8.5m▼
Stocks and contracts in progress3€0€0=
Amounts receivable within one year40/41€1.2m€1.3m▲
Trade receivables40€1.0m€0.8m▼
Other amounts receivable41€0.1m€0.5m▲
Current investments50/53€0€6.9m▲
Other investments51/53€0€6.9m▲
Cash at bank and in hand54/58€8.5m€0.3m▼
Deferred charges and accrued income490/1-€0.03m
Equity and liabilities
Total equity and liabilities10/49€27.0m€27.0m=
Equity10/15€22.3m€22.4m▲
Contributions10/11€0.06m€0.06m=
Capital10€0.06m€0.06m=
Issued capital100€0.06m€0.06m=
Reserves13€22.2m€22.3m▲
Non-distributable reserves130/1€0.006m€0.006m=
Legal reserve130€0.006m€0.006m=
Tax-exempt reserves132€0.07m€0.07m=
Distributable reserves133€22.2m€22.2m▲
Amounts payable17/49€4.7m€4.7m▼
Amounts payable after more than one year17€3.1m€2.7m▼
Financial debts170/4€3.1m€2.7m▼
Credit institutions173€3.1m€2.7m▼
Amounts payable within one year42/48€1.7m€2.0m▲
Current portion of amounts payable after more than one year42€0.4m€0.4m▲
Financial debts43€0-
Credit institutions430/8€0-
Trade debts44€0.8m€1.2m▲
Suppliers440/4€0.8m€1.2m▲
Taxes, remuneration and social security45€0.4m€0.4m▼
Taxes450/3€0.1m€0.1m▼
Remuneration and social security454/9€0.3m€0.2m▼
Accrued charges and deferred income492/3-€0.006m
Income statement Code20242025
Operating income70/76A€7.0m€5.9m▼
Turnover70€6.0m€5.4m▼
Other operating income74€1.0m€0.5m▼
Operating charges60/66A€6.6m€5.7m▼
Goods for resale, raw materials and consumables60€0.3m€0.2m▼
Purchases600/8€0.3m€0.2m▼
Services and other goods61€2.3m€2.4m▲
Remuneration, social security and pensions62€2.3m€2.1m▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.6m€0.5m▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€112
Other operating charges640/8€1.0m€0.6m▼
Operating profit (loss)9901€0.4m€0.2m▼
Financial income75/76B€0.3m€0.2m▼
Recurring financial income75€0.3m€0.2m▼
Income from current assets751€0.3m€0.2m▼
Other financial income752/9€0€359▲
Non-recurring financial income76B€0-
Financial charges65/66B€0.07m€0.06m▼
Recurring financial charges65€0.07m€0.06m▼
Debt charges650€0.06m€0.05m▼
Other financial charges652/9€0.005m€0.005m▼
Profit (loss) for the period before taxes9903€0.6m€0.3m▼
Income taxes67/77€0.2m€0.09m▼
Taxes670/3€0.2m€0.09m▼
Tax adjustments and reversals of tax provisions77€0-
Profit (loss) for the period9904€0.4m€0.2m▼
Profit (loss) for the period to be appropriated9905€0.4m€0.2m▼
Appropriation of the result
Profit (loss) to be appropriated9906€0.4m€0.2m▼
Transfer from equity791/2€0.2m€0.1m▼
From reserves792€0.2m€0.1m▼
Transfer to equity691/2€0.4m€0.2m▼
To other reserves6921€0.4m€0.2m▼
Profit to be distributed694/7€0.2m€0.1m▼
Return on contributions (dividend)694€0.2m€0.1m▼
Social balance sheet
Average headcount (FTE)908738.935.3▼

The notes to these accounts have 65 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Line20182019202020212022202320242025Change
Operating income70/76A---€9.3m€8.8m€6.6m€7.0m€5.9m▼ 15.8%
Turnover70---€8.6m€7.9m€5.9m€6.0m€5.4m▼ 10.7%
Other operating income74---€0.7m€0.8m€0.7m€1.0m€0.5m▼ 46.6%
Non-recurring operating income76A---€0-----
Operating charges60/66A---€7.6m€7.6m€6.3m€6.6m€5.7m▼ 13.6%
Goods for resale, raw materials and consumables60---€1.8m€1.9m€0.7m€0.3m€0.2m▼ 42.8%
Purchases600/8---€1.8m€1.9m€0.7m€0.3m€0.2m▼ 42.8%
Services and other goods61---€2.1m€2.2m€2.4m€2.3m€2.4m▲ 3.9%
Remuneration, social security and pensions62---€2.5m€2.3m€2.0m€2.3m€2.1m▼ 12.3%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.3m€0.5m€0.6m€0.6m€0.6m€0.6m€0.6m€0.5m▼ 11.6%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-------€112-
Other operating charges640/8---€0.6m€0.6m€0.6m€1.0m€0.6m▼ 46.5%
Non-recurring operating charges66A---€35€0----
Gross operating margin9900€4.2m€4.0m€4.7m------
Operating profit (loss)9901€2.4m€1.7m€2.2m€1.8m€1.1m€0.2m€0.4m€0.2m▼ 55.1%
Financial income75/76B---€0.003m€0.001m€0.7m€0.3m€0.2m▼ 38.3%
Recurring financial income75€0.03m€0.04m€0.003m€0.002m€0.001m€0.2m€0.3m€0.2m▼ 38.3%
Income from current assets751---€0.002m€420€0.2m€0.3m€0.2m▼ 38.4%
Other financial income752/9---€481€229€208€0€359-
Non-recurring financial income76B---€0.001m€0€0.5m€0--
Financial charges65/66B---€0.3m€0.2m€0.07m€0.07m€0.06m▼ 12.8%
Recurring financial charges65€0.3m€0.3m€0.2m€0.3m€0.2m€0.07m€0.07m€0.06m▼ 12.8%
Debt charges650---€0.3m€0.2m€0.06m€0.06m€0.05m▼ 13.3%
Other financial charges652/9---€0.007m€0.006m€0.005m€0.005m€0.005m▼ 7.3%
Profit (loss) for the period before taxes9903€2.1m€1.4m€2.0m€1.5m€1.0m€0.8m€0.6m€0.3m▼ 51.7%
Income taxes67/77€0.6m€0.5m€0.6m€0.4m€0.3m€0.2m€0.2m€0.09m▼ 46.3%
Taxes670/3---€0.4m€0.3m€0.2m€0.2m€0.09m▼ 46.3%
Tax adjustments and reversals of tax provisions77---€0.02m€0€0.003m€0--
Profit (loss) for the period9904€1.5m€1.0m€1.4m€1.1m€0.7m€0.6m€0.4m€0.2m▼ 53.8%
Profit (loss) for the period to be appropriated9905€1.5m€1.0m€1.4m€1.1m€0.7m€0.6m€0.4m€0.2m▼ 53.8%
Line20182019202020212022202320242025Change
Assets
Total assets20/58€29.8m€30.8m€30.7m€32.1m€27.0m€28.4m€27.0m€27.0m=
Formation expenses20€0--------
Fixed assets21/28€14.9m€19.8m€19.4m€18.9m€18.4m€18.0m€17.4m€18.5m▲ 6.2%
Intangible fixed assets21€0€0.07m€0.06m€0.04m€0.03m€0.01m€0.001m€0.002m▲ 34.8%
Tangible fixed assets22/27€7.0m€11.9m€11.5m€11.0m€10.5m€10.2m€9.6m€9.0m▼ 5.6%
Land and buildings22---€10.2m€9.8m€9.4m€8.9m€8.5m▼ 4.9%
Furniture and vehicles24---€0.7m€0.7m€0.8m€0.6m€0.5m▼ 14.8%
Financial fixed assets28€7.9m€7.9m€7.9m€7.9m€7.9m€7.9m€7.9m€9.5m▲ 20.5%
Affiliated companies280/1---€7.8m€7.8m€7.8m€7.8m€9.5m▲ 20.5%
Participating interests280---€7.8m€7.8m€7.8m€7.8m€7.8m=
Amounts receivable281-------€1.6m-
Other financial fixed assets284/8---€0.009m€0.009m€0.008m€0.008m€0.008m=
Shares284---€0.007m€0.007m€0.007m€0.007m€0.007m=
Amounts receivable and cash guarantees285/8---€0.002m€0.002m€248€248€248=
Current assets29/58€14.9m€11.0m€11.3m€13.2m€8.6m€10.4m€9.6m€8.5m▼ 11.3%
Amounts receivable after more than one year29---€0-----
Other amounts receivable291---€0-----
Stocks and contracts in progress3€0--€0€0€0€0€0-
Amounts receivable within one year40/41€0.9m€0.8m€1.3m€3.0m€1.1m€1.3m€1.2m€1.3m▲ 16.0%
Trade receivables40---€1.1m€0.7m€1.1m€1.0m€0.8m▼ 21.1%
Other amounts receivable41---€1.9m€0.3m€0.3m€0.1m€0.5m▲ 302%
Current investments50/53€0----€6.9m€0€6.9m-
Other investments51/53-----€6.9m€0€6.9m-
Cash at bank and in hand54/58€13.9m€10.2m€6.7m€10.2m€7.5m€2.1m€8.5m€0.3m▼ 96.8%
Deferred charges and accrued income490/1----€0.001m€0-€0.03m-
Equity and liabilities
Total equity and liabilities10/49€29.8m€30.8m€30.7m€32.1m€27.0m€28.4m€27.0m€27.0m=
Equity10/15€18.4m€19.3m€20.8m€21.4m€21.7m€22.1m€22.3m€22.4m▲ 0.2%
Contributions10/11€0.06m€0.06m€0.06m€0.06m€0.06m€0.06m€0.06m€0.06m=
Capital10---€0.06m€0.06m€0.06m€0.06m€0.06m=
Issued capital100---€0.06m€0.06m€0.06m€0.06m€0.06m=
Reserves13€18.3m€19.3m€20.7m€21.3m€21.6m€22.0m€22.2m€22.3m▲ 0.2%
Non-distributable reserves130/1---€0.006m€0.006m€0.006m€0.006m€0.006m=
Legal reserve130---€0.006m€0.006m€0.006m€0.006m€0.006m=
Tax-exempt reserves132---€0.07m€0.07m€0.07m€0.07m€0.07m=
Distributable reserves133---€21.2m€21.6m€22.0m€22.2m€22.2m▲ 0.2%
Profit (loss) carried forward14€0--------
Amounts payable17/49€11.4m€11.5m€9.9m€10.7m€5.3m€6.3m€4.7m€4.7m▼ 1.4%
Amounts payable after more than one year17€9.2m€8.9m€8.5m€8.1m€3.9m€3.5m€3.1m€2.7m▼ 13.1%
Financial debts170/4---€8.1m€3.9m€3.5m€3.1m€2.7m▼ 13.1%
Credit institutions173---€4.3m€3.9m€3.5m€3.1m€2.7m▼ 13.1%
Other loans174---€3.9m€0----
Amounts payable within one year42/48€2.0m€2.5m€1.3m€2.5m€1.4m€2.8m€1.7m€2.0m▲ 19.9%
Current portion of amounts payable after more than one year42---€0.4m€0.4m€0.4m€0.4m€0.4m▲ 1.6%
Financial debts43-----€0.4m€0--
Credit institutions430/8-----€0.4m€0--
Trade debts44€0.9m€0.8m€0.5m€0.6m€0.7m€1.7m€0.8m€1.2m▲ 50.7%
Suppliers440/4---€0.6m€0.7m€1.7m€0.8m€1.2m▲ 50.7%
Taxes, remuneration and social security45---€0.5m€0.3m€0.4m€0.4m€0.4m▼ 20.7%
Taxes450/3---€0.08m€0€0.1m€0.1m€0.1m▼ 16.9%
Remuneration and social security454/9---€0.4m€0.3m€0.3m€0.3m€0.2m▼ 22.6%
Other amounts payable47/48---€1.0m€0----
Accrued charges and deferred income492/3---€0.1m€0--€0.006m-
Line20182019202020212022202320242025Change
Profit (loss) for the period9904€1.5m€1.0m€1.4m€1.1m€0.7m€0.6m€0.4m€0.2m▼ 53.8%
+ Depreciation and write-downs630€0.3m€0.5m€0.6m€0.6m€0.6m€0.6m€0.6m€0.5m▼ 11.6%
Operating cash flow (approximation)€1.8m€1.5m€2.1m€1.7m€1.3m€1.3m€1.0m€0.7m▼ 28.9%
Investment in fixed assets (approximation)--€5.4m-€0.3m-€0.05m-€0.2m-€0.2m-€0.01m-€1.6m▼ 12,582%
Change in cash--€3.7m-€3.5m€3.5m-€2.8m-€5.3m€6.3m-€8.2m-

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

Download as CSV

Latest 10 of 49 filings with the National Bank
Financial year Type Filed Reference Document
31-12-2025 full format 15-07-2026 2026-00301817 NBB
31-12-2024 full format 29-08-2025 2025-00445554 PDF
31-12-2023 full format 28-08-2024 2024-00398571 PDF
31-12-2022 full format 31-08-2023 2023-00428013 PDF
31-12-2021 full format 31-08-2022 2022-20401458 PDF
31-12-2020 abbreviated format 30-07-2021 2021-44500023 PDF
31-12-2019 abbreviated format 21-10-2020 2020-62300069 PDF
31-12-2018 abbreviated format 24-07-2019 2019-37600375 PDF
31-12-2017 abbreviated format 30-08-2018 2018-56700011 PDF
31-12-2016 abbreviated format 31-08-2017 2017-58100144 PDF

Show all 49 filings

Next steps