KRAZ
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 62 days after the deadline Filed on 1 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00539611.
Annual accounts 2025 filed on 01-10-2026 at the NBB all 2 filings
Every figure per financial year
The operating result for 2025 is a loss of €21,895, smaller than the loss of €79,313 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.
Staff
| Item | 31-12-2024 | 31-12-2025 |
|---|---|---|
| Employees at the balance-sheet date | 4 | - |
| full-time | 0 | - |
| part-time | 4 | - |
| in full-time equivalents | 1.4 | - |
| Average over the year, in full-time equivalents | 2.7 | 1.5 |
| Joined | 79 | 58 |
| Left | 76 | 62 |
Source: social balance sheet in the 2024 to 2025 annual accounts
Investments
| Item | 2024 | 2025 |
|---|---|---|
| Tangible fixed assets | €152,354 | €7,419 |
| Intangible fixed assets | €56,270 | - |
| Financial fixed assets | €5,550 | €0 |
| Depreciation and write-downs of the year | €25,499 | €23,163 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Remuneration, social security and pensions62 | €82,900 | €53,399 | ▼ 35.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €25,499 | €23,163 | ▼ 9.2% |
| Other operating charges640/8 | €3,027 | €1,596 | ▼ 47.3% |
| Gross operating margin9900 | €32,113 | €56,263 | ▲ 75.2% |
| Operating profit (loss)9901 | -€79,313 | -€21,895 | ▲ 72.4% |
| Financial income75/76B | €28 | €21 | ▼ 25.9% |
| Recurring financial income75 | €28 | €21 | ▼ 25.9% |
| Financial charges65/66B | €11,461 | €8,277 | ▼ 27.8% |
| Recurring financial charges65 | €11,461 | €8,277 | ▼ 27.8% |
| Profit (loss) for the period before taxes9903 | -€90,746 | -€30,151 | ▲ 66.8% |
| Income taxes67/77 | - | €0 | - |
| Profit (loss) for the period9904 | -€90,746 | -€30,151 | ▲ 66.8% |
| Profit (loss) for the period to be appropriated9905 | -€90,746 | -€30,151 | ▲ 66.8% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €207,800 | €183,128 | ▼ 11.9% |
| Fixed assets21/28 | €188,674 | €172,930 | ▼ 8.3% |
| Intangible fixed assets21 | €48,119 | €42,381 | ▼ 11.9% |
| Tangible fixed assets22/27 | €135,006 | €124,999 | ▼ 7.4% |
| Land and buildings22 | €13,018 | €12,951 | ▼ 0.5% |
| Plant, machinery and equipment23 | €114,161 | €100,932 | ▼ 11.6% |
| Furniture and vehicles24 | €7,827 | €11,115 | ▲ 42.0% |
| Financial fixed assets28 | €5,550 | €5,550 | = |
| Current assets29/58 | €19,125 | €10,198 | ▼ 46.7% |
| Stocks and contracts in progress3 | €4,000 | €7,500 | ▲ 87.5% |
| Stocks30/36 | €4,000 | €7,500 | ▲ 87.5% |
| Amounts receivable within one year40/41 | €1,703 | €366 | ▼ 78.5% |
| Trade receivables40 | €1,457 | €0 | ▼ 100% |
| Other amounts receivable41 | €246 | €366 | ▲ 48.8% |
| Cash at bank and in hand54/58 | €12,212 | €1 | ▼ 100.0% |
| Deferred charges and accrued income490/1 | €1,211 | €2,331 | ▲ 92.5% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €207,800 | €183,128 | ▼ 11.9% |
| Equity10/15 | -€65,746 | -€95,898 | ▼ 45.9% |
| Contributions10/11 | €25,000 | €25,000 | = |
| Profit (loss) carried forward14 | -€90,746 | -€120,898 | ▼ 33.2% |
| Amounts payable17/49 | €273,546 | €279,026 | ▲ 2.0% |
| Amounts payable after more than one year17 | €147,021 | €108,666 | ▼ 26.1% |
| Financial debts170/4 | €147,021 | €108,666 | ▼ 26.1% |
| Amounts payable within one year42/48 | €126,525 | €170,360 | ▲ 34.6% |
| Current portion of amounts payable after more than one year42 | €36,759 | €55,033 | ▲ 49.7% |
| Financial debts43 | - | €3,606 | - |
| Credit institutions430/8 | - | €3,606 | - |
| Trade debts44 | €20,178 | €18,191 | ▼ 9.8% |
| Suppliers440/4 | €20,178 | €18,191 | ▼ 9.8% |
| Taxes, remuneration and social security45 | €19,343 | €7,841 | ▼ 59.5% |
| Taxes450/3 | €7,757 | €6,888 | ▼ 11.2% |
| Remuneration and social security454/9 | €11,586 | €953 | ▼ 91.8% |
| Other amounts payable47/48 | €50,245 | €85,688 | ▲ 70.5% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€90,746 | -€30,151 | ▲ 66.8% |
| + Depreciation and write-downs630 | €25,499 | €23,163 | ▼ 9.2% |
| Operating cash flow (approximation) | -€65,247 | -€6,988 | ▲ 89.3% |
| Investment in fixed assets (approximation) | - | -€7,419 | - |
| Change in cash | - | -€12,211 | - |
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, 7,639 companies had the same profile as KRAZ has now. Two years later, 84.9% were still going and 8.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- negative equity
- a loss of 10% of the balance sheet or more
Another 0.7% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of KRAZ itself: 11.3% 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 7,639 companies, not a prediction for KRAZ. 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.