KPL & C°
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 2 days after the deadline Filed on 2 February 2026, deadline 31 January 2026 (7 months after the close on 30 June 2025, Companies Code art. 3:10). Source: NBB, 2026-00028051.
Annual accounts 2025 filed on 02-02-2026 PDF all 34 filings
Turnover
≈ €360,000
Estimated: probably between €250,000 and €700,000
Total assets
€1.4m▲ 2.0%
2024 · €1.4m
Net result
€36,042▼ 93.8%
2024 · €577,769
Working capital
€775,280▼ 9.4%
2024 · €855,460
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€23,449
▼ 95.9%
2025
20192025
Net result
€36,042
▼ 93.8%
2025
highest quarter of the sector
20192025
Equity
€1.4m
▲ 2.7%
2025
highest quarter of the sector
20192025
Total assets
€1.4m
▲ 2.0%
2025
highest quarter of the sector
20192025
Debt
€75,809
▼ 9.8%
2025
20192025
Working capital
€775,280
▼ 9.4%
2025
highest quarter of the sector
20192025
Solvency
94.5%
▲ 0.7pp
2025
highest quarter of the sector
20192025
Current ratio
40.06
▲ 14.59
2025
highest quarter of the sector
20192025
Return on assets (ROA)
2.5%
▼ 38.5pp
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€0.006m--€0.02m▼ 230%-€0.03m▼ 46.3%€0.004m-€0.02m€0.6m€0.02m▼ 95.9%
Net result-€0.01m--€0.02mbelow the sector's middle half▼ 114%-€0.03mbelow the sector's middle half▼ 29.9%€0.003mbelow the sector's middle half-€0.04mbelow the sector's middle half€0.6mabove the sector's middle half€0.04mabove the sector's middle half▼ 93.8%
Equity€0.8m-€0.8mabove the sector's middle half▼ 2.8%€0.8mabove the sector's middle half▼ 3.7%€0.8mabove the sector's middle half▲ 0.3%€0.7mabove the sector's middle half▼ 4.5%€1.3mabove the sector's middle half▲ 77.6%€1.4mabove the sector's middle half▲ 2.7%
Total assets€1.0m-€0.9mwithin the sector's middle half▼ 11.5%€0.9mwithin the sector's middle half▼ 4.7%€0.9mwithin the sector's middle half▼ 0.3%€0.9mwithin the sector's middle half▲ 3.0%€1.4mwithin the sector's middle half▲ 57.9%€1.4mabove the sector's middle half▲ 2.0%
Debt€0.2m-€0.1m▼ 48.3%€0.09m▼ 12.9%€0.08m▼ 6.1%€0.1m▲ 72.8%€0.08m▼ 42.0%€0.08m▼ 9.8%
Working capital-€0.02m-€0.007mbelow the sector's middle half-€0.009mbelow the sector's middle half-€0.002mbelow the sector's middle half▲ 78.7%-€0.01mbelow the sector's middle half▼ 415%€0.9mabove the sector's middle half€0.8mabove the sector's middle half▼ 9.4%
Solvency80.5%-88.4%above the sector's middle half▲ 8.0pp89.4%above the sector's middle half▲ 1.0pp90.0%above the sector's middle half▲ 0.6pp83.4%above the sector's middle half▼ 6.5pp93.8%above the sector's middle half▲ 10.4pp94.5%above the sector's middle half▲ 0.7pp
Current ratio0.88-1.15within the sector's middle half▲ 0.280.86below the sector's middle half▼ 0.300.98below the sector's middle half▲ 0.120.88below the sector's middle half▼ 0.0925.47above the sector's middle half▲ 24.5840.06above the sector's middle half▲ 14.59
Return on assets (ROA)-1.0%--2.5%below the sector's middle half▼ 1.5pp-3.4%below the sector's middle half▼ 0.9pp0.3%below the sector's middle half▲ 3.7pp-3.9%below the sector's middle half▼ 4.2pp41.0%above the sector's middle half▲ 44.9pp2.5%within the sector's middle half▼ 38.5pp
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 96% lower than in 2024.
Large changes and their cause
- 2025 Net result -94% on 2024. The accounts now follow the micro format, last year the abbreviated format.
Turnover and EBIT margin are not published. The abbreviated or 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 €1.4m
Fixed assets
€641,952 ▲ 23.7%
Current assets
€795,129 ▼ 10.7%
Equity and liabilities €1.4m
Equity
€1.4m ▲ 2.7%
Provisions
€3,000 =
Debt
€75,809 ▼ 9.8%
Debt's share of the balance-sheet total falls from 6.0% to 5.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€65,674▼
2024 · €634,650
Cash flow
€78,267▼
2024 · €642,082
Debt to equity
0.06▼
2024 · 0.06
ROE
2.7%▼
2024 · 43.7%
Interest coverage
26.70▼
2024 · over 100
Debt ≤ 1 year
€19,850▼
2024 · €34,965
Debt > 1 year
€35,689▼
2024 · €45,295
Staff costs
€23,872
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Debts secured on the company's own assets | €11,945 | €1,111 | - | - |
| Mortgages, amount registered | €867,627 | €867,627 | - | - |
| Carrying value of the mortgaged assets | €786,771 | €814,617 | - | - |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €55,947 | €113,382 | €5,901 | €165,327 |
| Depreciation and write-downs of the year | €81,733 | €86,219 | €64,313 | €42,225 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 · 1 entry · €2,000 awarded · €2,000 paidSchemes
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €554,006 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | - | - | - | - | - | - | €23,872 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €76,566 | €75,206 | €76,775 | €81,733 | €86,219 | €64,313 | €42,225 | ▼ 34.3% |
| Other operating charges640/8 | - | - | - | €23,918 | €25,307 | €23,759 | €23,047 | ▼ 3.0% |
| Gross operating margin9900 | €90,675 | €83,768 | €72,268 | €109,621 | €90,649 | €658,409 | €112,592 | ▼ 82.9% |
| Operating profit (loss)9901 | -€5,806 | -€19,157 | -€28,032 | €3,970 | -€20,877 | €570,337 | €23,449 | ▼ 95.9% |
| Financial income75/76B | - | - | - | €6 | €247 | €10,448 | €15,053 | ▲ 44.1% |
| Recurring financial income75 | - | €1 | €3 | €6 | €247 | €10,448 | €15,053 | ▲ 44.1% |
| Financial charges65/66B | - | - | - | €1,361 | €14,452 | €3,016 | €2,459 | ▼ 18.5% |
| Recurring financial charges65 | €4,959 | €3,853 | €1,868 | €1,361 | €3,215 | €3,016 | €2,459 | ▼ 18.5% |
| Non-recurring financial charges66B | - | - | - | - | €11,237 | - | - | - |
| Profit (loss) for the period before taxes9903 | -€10,765 | -€23,009 | -€29,897 | €2,615 | -€35,082 | €577,769 | €36,042 | ▼ 93.8% |
| Profit (loss) for the period9904 | -€10,765 | -€23,009 | -€29,897 | €2,615 | -€35,082 | €577,769 | €36,042 | ▼ 93.8% |
| Transfer from tax-exempt reserves789 | - | - | - | - | - | €377 | €5,807 | ▲ 15× |
| Transfer to tax-exempt reserves689 | - | - | - | - | - | €389,888 | €0 | ▼ 100% |
| Profit (loss) for the period to be appropriated9905 | -€10,765 | -€23,009 | -€29,897 | €2,615 | -€35,082 | €188,258 | €41,849 | ▼ 77.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.0m | €0.9m | €0.9m | €0.9m | €0.9m | €1.4m | €1.4m | ▲ 2.0% |
| Fixed assets21/28 | €0.9m | €0.9m | €0.8m | €0.8m | €0.8m | €0.5m | €0.6m | ▲ 23.7% |
| Tangible fixed assets22/27 | €0.9m | €0.9m | €0.8m | €0.8m | €0.8m | €0.5m | €0.6m | ▲ 23.7% |
| Land and buildings22 | - | - | - | €0.8m | €0.8m | €0.5m | €0.6m | ▲ 19.8% |
| Plant, machinery and equipment23 | - | - | - | €0.001m | €0.001m | €391 | €115 | ▼ 70.6% |
| Furniture and vehicles24 | - | - | - | €0.003m | €0.003m | €0.002m | €0.02m | ▲ 882% |
| Current assets29/58 | €0.1m | €0.05m | €0.05m | €0.08m | €0.07m | €0.9m | €0.8m | ▼ 10.7% |
| Amounts receivable after more than one year29 | - | - | - | €0.002m | €0.002m | €0.003m | - | - |
| Other amounts receivable291 | - | - | - | €0.002m | €0.002m | €0.003m | - | - |
| Amounts receivable within one year40/41 | €0.1m | €0.04m | €0.04m | €0.06m | €0.07m | €0.04m | €0.04m | ▼ 3.1% |
| Trade receivables40 | - | - | - | €0.02m | €0.03m | €0.02m | €0.02m | ▼ 6.6% |
| Other amounts receivable41 | - | - | - | €0.03m | €0.04m | €0.02m | €0.02m | ▲ 2.3% |
| Current investments50/53 | - | - | - | - | - | €0.8m | €0.7m | ▼ 5.0% |
| Cash at bank and in hand54/58 | - | €0.005m | - | €0.01m | €107 | €0.09m | €0.04m | ▼ 58.6% |
| Deferred charges and accrued income490/1 | - | - | - | €0.003m | €0.003m | €0.004m | €0.005m | ▲ 51.7% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.0m | €0.9m | €0.9m | €0.9m | €0.9m | €1.4m | €1.4m | ▲ 2.0% |
| Equity10/15 | €0.8m | €0.8m | €0.8m | €0.8m | €0.7m | €1.3m | €1.4m | ▲ 2.7% |
| Contributions10/11 | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Capital10 | - | - | - | €1.0m | - | - | - | - |
| Issued capital100 | - | - | - | €1.0m | - | - | - | - |
| Reserves13 | - | - | - | - | - | €0.4m | €0.4m | ▼ 1.5% |
| Tax-exempt reserves132 | - | - | - | - | - | €0.4m | €0.4m | ▼ 1.5% |
| Profit (loss) carried forward14 | -€0.1m | -€0.2m | -€0.2m | -€0.2m | -€0.2m | -€0.04m | €0.005m | - |
| Provisions and deferred taxes16 | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | = |
| Provisions for liabilities and charges160/5 | - | - | - | €0.003m | €0.003m | €0.003m | €0.003m | = |
| Taxes161 | - | - | - | - | - | - | €0.003m | - |
| Major repairs and maintenance162 | - | - | - | €0.003m | €0.003m | €0.003m | - | - |
| Amounts payable17/49 | €0.2m | €0.1m | €0.09m | €0.08m | €0.1m | €0.08m | €0.08m | ▼ 9.8% |
| Amounts payable after more than one year17 | €0.08m | €0.05m | €0.02m | €0.006m | €0.05m | €0.05m | €0.04m | ▼ 21.2% |
| Financial debts170/4 | - | - | - | €0.006m | €0.05m | €0.05m | €0.04m | ▼ 21.2% |
| Amounts payable within one year42/48 | €0.1m | €0.05m | €0.06m | €0.08m | €0.08m | €0.03m | €0.02m | ▼ 43.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.03m | €0.01m | €0.009m | €0.007m | ▼ 27.4% |
| Financial debts43 | - | - | - | - | €0.01m | €24 | - | - |
| Credit institutions430/8 | - | - | - | - | €0.01m | €24 | - | - |
| Trade debts44 | €0.01m | €0.007m | €0.01m | €0.02m | €0.02m | €0.008m | €0 | ▼ 100% |
| Suppliers440/4 | - | - | - | €0.02m | €0.02m | €0.008m | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.03m | €0.01m | €0.007m | ▼ 40.4% |
| Taxes450/3 | - | - | - | €0.02m | €0.03m | €0.01m | €0.003m | ▼ 74.9% |
| Remuneration and social security454/9 | - | - | - | - | - | - | €0.004m | - |
| Other amounts payable47/48 | - | - | - | €0.001m | €0.009m | €0.006m | €0.006m | = |
| Accrued charges and deferred income492/3 | - | - | - | €497 | €0.006m | €0.004m | €0.02m | ▲ 436% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€10,765 | -€23,009 | -€29,897 | €2,615 | -€35,082 | €577,769 | €36,042 | ▼ 93.8% |
| + Depreciation and write-downs630 | €76,566 | €75,206 | €76,775 | €81,733 | €86,219 | €64,313 | €42,225 | ▼ 34.3% |
| Operating cash flow (approximation) | €65,801 | €52,197 | €46,878 | €84,348 | €51,137 | €642,082 | €78,267 | ▼ 87.8% |
| Investment in fixed assets (approximation) | - | -€6,924 | -€35,742 | -€55,947 | -€113,382 | €234,943 | -€165,327 | - |
| Change in cash | - | - | - | - | -€13,870 | €94,400 | -€55,426 | - |
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, 14,766 companies had the same profile as KPL & C° has now. Two years later, 96.2% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
96.2%
was still going
3.5%
stopped otherwise
0.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of KPL & C° 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 14,766 companies, not a prediction for KPL & C°. 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 34 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 02-02-2026 | 2026-00028051 | |
| 30-06-2024 | abbreviated format | 24-12-2024 | 2024-00624149 | |
| 30-06-2023 | abbreviated format | 22-12-2023 | 2023-00535348 | |
| 30-06-2022 | abbreviated format | 30-01-2023 | 2023-00008342 | |
| 30-06-2021 | abbreviated format | 24-12-2021 | 2021-81600513 | |
| 30-06-2020 | abbreviated format | 29-01-2021 | 2021-04100035 | |
| 30-06-2019 | abbreviated format | 23-01-2020 | 2020-02200002 | |
| 30-06-2018 | abbreviated format | 21-12-2018 | 2018-75700272 | |
| 30-06-2017 | abbreviated format | 29-12-2017 | 2017-73500371 | |
| 30-06-2016 | abbreviated format | 23-12-2016 | 2016-71600164 |