KRE-SUPPORT
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 15-01-2026 PDF all 17 filings
Equity
€72,190▼ 22.6%
2024 · €93,309
Total assets
€83,723▼ 31.9%
2024 · €122,877
Net result
-€21,119
2024 · €15,024
Working capital
€56,567▼ 29.7%
2024 · €80,473
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€14,134
2025
20192025
Net result
-€21,119
2025
lowest quarter of the sector
20192025
Equity
€72,190
▼ 22.6%
2025
middle half of the sector
20192025
Total assets
€83,723
▼ 31.9%
2025
middle half of the sector
20192025
Debt
€11,532
▼ 61.0%
2025
20192025
Working capital
€56,567
▼ 29.7%
2025
middle half of the sector
20192025
Solvency
86.2%
▲ 10.3pp
2025
highest quarter of the sector
20192025
Current ratio
5.91
▲ 2.18
2025
highest quarter of the sector
20192025
Return on assets (ROA)
-25.2%
▼ 37.5pp
2025
lowest quarter of the sector
20192025
Staff (FTE)
no figure
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€4,207-€14,248€23,236▲ 63.1%€43,936▲ 89.1%€14,759▼ 66.4%€29,765▲ 102%-€14,134
Net result-€11,275-€5,101within the sector's middle half€12,540within the sector's middle half▲ 146%€27,364above the sector's middle half▲ 118%€4,072within the sector's middle half▼ 85.1%€15,024within the sector's middle half▲ 269%-€21,119below the sector's middle half
Equity€29,208-€34,309within the sector's middle half▲ 17.5%€46,849within the sector's middle half▲ 36.5%€74,212within the sector's middle half▲ 58.4%€78,285within the sector's middle half▲ 5.5%€93,309within the sector's middle half▲ 19.2%€72,190within the sector's middle half▼ 22.6%
Total assets€89,890-€72,246within the sector's middle half▼ 19.6%€79,085within the sector's middle half▲ 9.5%€113,974within the sector's middle half▲ 44.1%€107,495within the sector's middle half▼ 5.7%€122,877within the sector's middle half▲ 14.3%€83,723within the sector's middle half▼ 31.9%
Debt€60,682-€37,937▼ 37.5%€32,236▼ 15.0%€39,762▲ 23.3%€29,210▼ 26.5%€29,568▲ 1.2%€11,532▼ 61.0%
Working capital€358-€9,983within the sector's middle half▲ 28×€26,172within the sector's middle half▲ 162%€58,201within the sector's middle half▲ 122%€65,084within the sector's middle half▲ 11.8%€80,473within the sector's middle half▲ 23.6%€56,567within the sector's middle half▼ 29.7%
Solvency32.5%-47.5%within the sector's middle half▲ 15.0pp59.2%within the sector's middle half▲ 11.7pp65.1%above the sector's middle half▲ 5.9pp72.8%above the sector's middle half▲ 7.7pp75.9%above the sector's middle half▲ 3.1pp86.2%above the sector's middle half▲ 10.3pp
Current ratio1.01-1.26within the sector's middle half▲ 0.261.81within the sector's middle half▲ 0.552.46within the sector's middle half▲ 0.653.23above the sector's middle half▲ 0.763.72above the sector's middle half▲ 0.495.91above the sector's middle half▲ 2.18
Return on assets (ROA)-12.5%-7.1%within the sector's middle half▲ 19.6pp15.9%above the sector's middle half▲ 8.8pp24.0%above the sector's middle half▲ 8.2pp3.8%within the sector's middle half▼ 20.2pp12.2%within the sector's middle half▲ 8.4pp-25.2%below the sector's middle half▼ 37.5pp
Staff (FTE)0.8-1.1within the sector's middle half▲ 37.5%
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 €14,134, after a profit of €29,765 in 2024. It is the lowest result since 2021.
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 €83,723
Fixed assets
€15,623 ▲ 21.7%
Current assets
€68,099 ▼ 38.1%
Equity and liabilities €83,723
Equity
€72,190 ▼ 22.6%
Debt
€11,532 ▼ 61.0%
Debt's share of the balance-sheet total falls from 24.1% to 13.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€10,575▼
2024 · €32,257
Cash flow
-€17,560▼
2024 · €17,516
Quick ratio
3.50▲
2024 · 3.07
Debt to equity
0.16▼
2024 · 0.32
ROE
-29.3%▼
2024 · 16.1%
Interest coverage
-1.66▼
2024 · 4.73
Debt ≤ 1 year
€11,532▼
2024 · €29,568
Income taxes
€952▼
2024 · €8,210
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | €2,127 | €6,347 |
| Depreciation and write-downs of the year | €4,666 | €2,810 | €2,492 | €3,559 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0 | - | - | €5,733 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,233 | €5,792 | €4,418 | €4,666 | €2,810 | €2,492 | €3,559 | ▲ 42.8% |
| Other operating charges640/8 | - | - | - | €2,252 | €2,863 | €2,961 | €2,636 | ▼ 11.0% |
| Non-recurring operating charges66A | - | - | - | €0 | - | - | - | - |
| Gross operating margin9900 | €47,622 | €56,093 | €36,770 | €50,854 | €20,432 | €35,218 | -€7,939 | - |
| Operating profit (loss)9901 | -€4,207 | €14,248 | €23,236 | €43,936 | €14,759 | €29,765 | -€14,134 | - |
| Financial income75/76B | - | - | - | €447 | €462 | €290 | €347 | ▲ 19.6% |
| Recurring financial income75 | €34 | €65 | €364 | €447 | €462 | €290 | €347 | ▲ 19.6% |
| Financial charges65/66B | - | - | - | €5,069 | €5,131 | €6,821 | €6,380 | ▼ 6.5% |
| Recurring financial charges65 | €6,129 | €5,172 | €4,413 | €5,069 | €5,131 | €6,821 | €6,380 | ▼ 6.5% |
| Profit (loss) for the period before taxes9903 | -€10,303 | €9,141 | €19,187 | €39,314 | €10,091 | €23,234 | -€20,167 | - |
| Income taxes67/77 | €972 | €4,040 | €6,648 | €11,951 | €6,018 | €8,210 | €952 | ▼ 88.4% |
| Profit (loss) for the period9904 | -€11,275 | €5,101 | €12,540 | €27,364 | €4,072 | €15,024 | -€21,119 | - |
| Profit (loss) for the period to be appropriated9905 | -€11,275 | €5,101 | €12,540 | €27,364 | €4,072 | €15,024 | -€21,119 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €89,890 | €72,246 | €79,085 | €113,974 | €107,495 | €122,877 | €83,723 | ▼ 31.9% |
| Fixed assets21/28 | €28,850 | €24,326 | €20,677 | €16,011 | €13,201 | €12,836 | €15,623 | ▲ 21.7% |
| Intangible fixed assets21 | €4,478 | €1,652 | €4,904 | €3,178 | €2,278 | €1,378 | €478 | ▼ 65.3% |
| Tangible fixed assets22/27 | €16,552 | €14,854 | €7,952 | €5,013 | €3,102 | €3,638 | €7,325 | ▲ 101% |
| Plant, machinery and equipment23 | - | - | - | €2,536 | €1,518 | €1,012 | €2,061 | ▲ 104% |
| Furniture and vehicles24 | - | - | - | €2,477 | €1,584 | €2,625 | €5,264 | ▲ 100% |
| Financial fixed assets28 | €7,820 | €7,820 | €7,820 | €7,820 | €7,820 | €7,820 | €7,820 | = |
| Current assets29/58 | €61,040 | €47,920 | €58,408 | €97,963 | €94,294 | €110,041 | €68,099 | ▼ 38.1% |
| Stocks and contracts in progress3 | €7,111 | €12,917 | €8,722 | €14,879 | €16,063 | €19,142 | €27,746 | ▲ 44.9% |
| Stocks30/36 | - | - | - | €14,879 | €16,063 | €19,142 | €27,746 | ▲ 44.9% |
| Amounts receivable within one year40/41 | €46,887 | €33,160 | €41,064 | €33,811 | €40,587 | €25,176 | €4,792 | ▼ 81.0% |
| Trade receivables40 | - | - | - | €31,140 | €34,320 | €22,355 | €4,792 | ▼ 78.6% |
| Other amounts receivable41 | - | - | - | €2,671 | €6,267 | €2,821 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €6,293 | €775 | €8,239 | €48,472 | €37,240 | €65,300 | €35,561 | ▼ 45.5% |
| Deferred charges and accrued income490/1 | - | - | - | €802 | €403 | €423 | €0 | ▼ 100% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €89,890 | €72,246 | €79,085 | €113,974 | €107,495 | €122,877 | €83,723 | ▼ 31.9% |
| Equity10/15 | €29,208 | €34,309 | €46,849 | €74,212 | €78,285 | €93,309 | €72,190 | ▼ 22.6% |
| Contributions10/11 | €18,600 | €0 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | - | - |
| Other1319 | - | - | - | €1,860 | €1,860 | €0 | - | - |
| Distributable reserves133 | - | - | - | - | - | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €8,748 | €13,849 | €26,389 | €53,752 | €57,825 | €72,849 | €51,730 | ▼ 29.0% |
| Amounts payable17/49 | €60,682 | €37,937 | €32,236 | €39,762 | €29,210 | €29,568 | €11,532 | ▼ 61.0% |
| Amounts payable within one year42/48 | €60,682 | €37,937 | €32,236 | €39,762 | €29,210 | €29,568 | €11,532 | ▼ 61.0% |
| Trade debts44 | €24,931 | €15,062 | €13,698 | €16,723 | €11,019 | €11,130 | €8,902 | ▼ 20.0% |
| Suppliers440/4 | - | - | - | €16,723 | €11,019 | €11,130 | €8,902 | ▼ 20.0% |
| Taxes, remuneration and social security45 | - | - | - | €23,038 | €18,191 | €18,438 | €2,630 | ▼ 85.7% |
| Taxes450/3 | - | - | - | €23,038 | €18,191 | €18,438 | €2,630 | ▼ 85.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€11,275 | €5,101 | €12,540 | €27,364 | €4,072 | €15,024 | -€21,119 | - |
| + Depreciation and write-downs630 | €5,233 | €5,792 | €4,418 | €4,666 | €2,810 | €2,492 | €3,559 | ▲ 42.8% |
| Operating cash flow (approximation) | -€6,042 | €10,893 | €16,958 | €32,029 | €6,883 | €17,516 | -€17,560 | - |
| Investment in fixed assets (approximation) | - | -€1,268 | -€769 | €0 | €0 | -€2,127 | -€6,347 | ▼ 198% |
| Change in cash | - | -€5,518 | €7,464 | €40,233 | -€11,231 | €28,060 | -€29,739 | - |
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, 4,805 companies had the same profile as KRE-SUPPORT has now. Two years later, 88.1% were still going and 2.0% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
88.1%
was still going
9.8%
stopped otherwise
2.0%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of KRE-SUPPORT itself is lower: 0.2% within 12 months. It rests on far more data about KRE-SUPPORT than the profile alone.
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 4,805 companies, not a prediction for KRE-SUPPORT. 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 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 15-01-2026 | 2026-00008651 | |
| 30-06-2024 | micro format | 29-01-2025 | 2025-00017994 | |
| 30-06-2023 | micro format | 17-01-2024 | 2024-00004620 | |
| 30-06-2022 | micro format | 18-01-2023 | 2023-00000462 | |
| 30-06-2021 | micro format | 19-01-2022 | 2022-01200361 | |
| 30-06-2020 | micro format | 26-01-2021 | 2021-01600438 | |
| 30-06-2019 | micro format | 14-01-2020 | 2020-01300084 | |
| 30-06-2018 | micro format | 21-12-2018 | 2018-75800051 | |
| 30-06-2017 | micro format | 19-12-2017 | 2017-72600517 | |
| 30-06-2016 | abbreviated format | 06-12-2016 | 2016-69500583 |