KRONES
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 12-06-2026 PDF all 40 filings
Turnover
€77.3m▲ 21.6%
2024 · €63.6m
EBIT margin
17.2%▲ 8.9pp
2024 · 8.4%
Net result
€9.5m▲ 130%
2024 · €4.1m
Working capital
€10.6m▲ 0.2%
2024 · €10.6m
In the rankings
#3 employer in Ottignies-Louvain-la-Neuve, Wholesale and retail trade sector#5 company by total assets in Ottignies-Louvain-la-Neuve, Wholesale and retail trade sector#8 company by equity in Ottignies-Louvain-la-Neuve, Wholesale and retail trade sector
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€77.3m
▲ 21.6%
2025
20182025
Operating result
€13.3m
▲ 150%
2025
20182025
Net result
€9.5m
▲ 130%
2025
highest quarter of the sector
20182025
EBIT margin
17.2%
▲ 8.9pp
2025
20182025
Equity
€2.6m
▲ 25.2%
2025
middle half of the sector
20182025
Total assets
€39.1m
▲ 5.4%
2025
highest quarter of the sector
20182025
Debt
€35.5m
▲ 6.7%
2025
20182025
Working capital
€10.6m
▲ 0.2%
2025
highest quarter of the sector
20182025
Solvency
6.8%
▲ 1.1pp
2025
lowest quarter of the sector
20182025
Current ratio
1.38
▼ 0.04
2025
middle half of the sector
20182025
Return on assets (ROA)
24.4%
▲ 13.2pp
2025
highest quarter of the sector
20182025
Staff (FTE)
86.4
▲ 4.0%
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€64.4m-€55.1m▼ 14.5%€42.2m▼ 23.4%€39.1m▼ 7.2%€57.2m▲ 46.2%€61.5m▲ 7.4%€63.6m▲ 3.4%€77.3m▲ 21.6%
Operating result€0.3m-€0.2m▼ 24.0%-€0.5m€1.0m€2.3m▲ 124%€2.6m▲ 14.0%€5.3m▲ 102%€13.3m▲ 150%
Net result€0.07m--€0.02m-€0.6mbelow the sector's middle half▼ 3,418%€0.6mabove the sector's middle half€1.6mabove the sector's middle half▲ 151%€1.7mabove the sector's middle half▲ 8.9%€4.1mabove the sector's middle half▲ 143%€9.5mabove the sector's middle half▲ 130%
EBIT margin0.5%-0.4%▼ 0.1pp-1.2%▼ 1.6pp2.6%▲ 3.8pp4.0%▲ 1.4pp4.3%▲ 0.2pp8.4%▲ 4.1pp17.2%▲ 8.9pp
Equity€1.4m-€1.4m▼ 1.1%€0.8mwithin the sector's middle half▼ 39.9%€1.5mwithin the sector's middle half▲ 75.5%€1.8mwithin the sector's middle half▲ 21.8%€1.9mwithin the sector's middle half▲ 6.0%€2.1mwithin the sector's middle half▲ 12.8%€2.6mwithin the sector's middle half▲ 25.2%
Total assets€34.2m-€24.5m▼ 28.3%€17.3mabove the sector's middle half▼ 29.5%€14.6mabove the sector's middle half▼ 15.7%€25.3mabove the sector's middle half▲ 73.4%€30.1mabove the sector's middle half▲ 19.2%€37.1mabove the sector's middle half▲ 23.1%€39.1mabove the sector's middle half▲ 5.4%
Debt€32.6m-€22.9m▼ 29.7%€16.3m▼ 29.0%€12.8m▼ 21.1%€23.2m▲ 80.9%€27.7m▲ 19.6%€33.3m▲ 19.9%€35.5m▲ 6.7%
Working capital€0.03m-€0.3m▲ 768%€2.2mwithin the sector's middle half▲ 664%€3.3mabove the sector's middle half▲ 50.2%€4.1mabove the sector's middle half▲ 25.4%€7.0mabove the sector's middle half▲ 70.3%€10.6mabove the sector's middle half▲ 52.2%€10.6mabove the sector's middle half▲ 0.2%
Solvency4.1%-5.6%▲ 1.5pp4.8%below the sector's middle half▼ 0.8pp10.0%below the sector's middle half▲ 5.2pp7.0%below the sector's middle half▼ 3.0pp6.2%below the sector's middle half▼ 0.8pp5.7%below the sector's middle half▼ 0.5pp6.8%below the sector's middle half▲ 1.1pp
Current ratio1.00-1.01▲ 0.011.16within the sector's middle half▲ 0.141.32within the sector's middle half▲ 0.161.20within the sector's middle half▼ 0.121.31within the sector's middle half▲ 0.111.42within the sector's middle half▲ 0.101.38within the sector's middle half▼ 0.04
Return on assets (ROA)0.2%--0.1%▼ 0.3pp-3.2%below the sector's middle half▼ 3.1pp4.3%within the sector's middle half▲ 7.5pp6.2%within the sector's middle half▲ 1.9pp5.7%within the sector's middle half▼ 0.5pp11.2%above the sector's middle half▲ 5.5pp24.4%above the sector's middle half▲ 13.2pp
Staff (FTE)93.5-91.7▼ 1.9%81.7above the sector's middle half▼ 10.9%74above the sector's middle half▼ 9.4%77.2above the sector's middle half▲ 4.3%82.7above the sector's middle half▲ 7.1%83.1above the sector's middle half▲ 0.5%86.4above the sector's middle half▲ 4.0%
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 150% higher than in 2024 and the highest since 2021. It is the fourth rise in a row.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €39.1m
Fixed assets
€561,056 ▼ 43.1%
Current assets
€38.5m ▲ 6.7%
Equity and liabilities €39.1m
Equity
€2.6m ▲ 25.2%
Provisions
€942,218 ▼ 45.0%
Debt
€35.5m ▲ 6.7%
Debt's share of the balance-sheet total rises from 89.7% to 90.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€13.4m▲
2024 · €5.4m
Cash flow
€9.7m▲
2024 · €4.2m
Debt to equity
13.41▼
2024 · 15.73
ROE
360.1%▲
2024 · 195.8%
Interest coverage
over 100▲
2024 · 58.01
Debt ≤ 1 year
€27.9m▲
2024 · €25.5m
Income taxes
€3.5m▲
2024 · €1.5m
Customer credit
57 days▼
2024 · 110 days
Supplier credit
107 days▼
2024 · 139 days
Staff costs
€11.6m▲
2024 · €10.3m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 76 | 84 | 85 | 86 | 88 |
| full-time | 70 | 75 | 74 | 75 | 81 |
| part-time | 6 | 9 | 11 | 11 | 7 |
| in full-time equivalents | 74.6 | 82 | 82.1 | 83.2 | 86.4 |
| Average over the year, in full-time equivalents | 74 | 77.2 | 82.7 | 83.1 | 86.4 |
| On a permanent contract | 76 | 84 | 85 | 86 | 88 |
| Joined | 8 | 28 | 13 | 20 | 23 |
| Left | 10 | 20 | 12 | 19 | 21 |
| Agency workers, average number | 0.2 | - | - | - | - |
| Training hours | 2,007 | 1,399 | 1,269 | 674 | 841 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €4,701 | €140,257 | €122,943 | €230,727 | €155,125 |
| Depreciation and write-downs of the year | €172,533 | €195,839 | €153,955 | €88,230 | €118,320 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Auditor
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Fee for the audit | €20,815 | €20,097 | €24,250 | €24,250 | €25,532 |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €40.9m | €59.9m | €64.5m | €66.7m | €83.7m | ▲ 25.5% |
| Turnover70 | €64.4m | €55.1m | €42.2m | €39.1m | €57.2m | €61.5m | €63.6m | €77.3m | ▲ 21.6% |
| Other operating income74 | - | - | - | €1.7m | €2.6m | €3.0m | €3.2m | €3.9m | ▲ 24.4% |
| Non-recurring operating income76A | - | - | - | - | - | - | - | €2.5m | - |
| Operating charges60/66A | - | - | - | €39.9m | €57.6m | €61.8m | €61.4m | €70.4m | ▲ 14.7% |
| Goods for resale, raw materials and consumables60 | - | - | - | €27.0m | €44.6m | €46.5m | €45.3m | €54.0m | ▲ 19.3% |
| Purchases600/8 | - | - | - | €27.0m | €43.2m | €46.5m | €44.5m | €54.0m | ▲ 21.3% |
| Change in stocks: decrease (increase)609 | - | - | - | - | €1.4m | - | €0.8m | - | - |
| Services and other goods61 | - | - | - | €4.1m | €4.3m | €4.5m | €5.2m | €5.4m | ▲ 3.4% |
| Remuneration, social security and pensions62 | - | - | - | €8.1m | €9.4m | €10.3m | €10.3m | €11.6m | ▲ 12.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.3m | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | €0.09m | €0.1m | ▲ 34.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.4m | -€1.0m | €0.2m | -€0.8m | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | €0.08m | €0.007m | €0.2m | €0.05m | €0.03m | ▼ 28.6% |
| Other operating charges640/8 | - | - | - | €0.04m | €0.04m | €0.05m | €0.05m | €0.05m | ▲ 4.3% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €1.1m | -€0.8m | - |
| Operating profit (loss)9901 | €0.3m | €0.2m | -€0.5m | €1.0m | €2.3m | €2.6m | €5.3m | €13.3m | ▲ 150% |
| Financial income75/76B | - | - | - | €0.01m | €0.01m | €0.1m | €0.5m | €0.3m | ▼ 36.3% |
| Recurring financial income75 | €0.001m | €0.004m | €0.008m | €0.01m | €0.01m | €0.1m | €0.5m | €0.3m | ▼ 36.3% |
| Income from current assets751 | - | - | - | €40 | €0.004m | €0.1m | €0.5m | €0.3m | ▼ 36.6% |
| Other financial income752/9 | - | - | - | €0.01m | €0.009m | €16 | €0.009m | €0.007m | ▼ 20.0% |
| Financial charges65/66B | - | - | - | €0.09m | €0.09m | €0.3m | €0.1m | €0.6m | ▲ 351% |
| Recurring financial charges65 | €0.2m | €0.1m | €0.1m | €0.09m | €0.09m | €0.1m | €0.1m | €0.2m | ▲ 18.6% |
| Debt charges650 | €0.07m | €0.07m | €0.06m | €0.05m | €0.05m | €0.06m | €0.09m | €0.1m | ▲ 27.8% |
| Other financial charges652/9 | - | - | - | €0.04m | €0.04m | €0.06m | €0.04m | €0.04m | ▼ 1.5% |
| Non-recurring financial charges66B | - | - | - | - | - | €0.2m | - | €0.5m | - |
| Profit (loss) for the period before taxes9903 | €0.2m | €0.1m | -€0.6m | €1.0m | €2.2m | €2.5m | €5.7m | €13.0m | ▲ 129% |
| Income taxes67/77 | €0.1m | €0.1m | -€0.06m | €0.3m | €0.7m | €0.8m | €1.5m | €3.5m | ▲ 127% |
| Taxes670/3 | - | - | - | €0.3m | €0.7m | €0.8m | €1.5m | €3.5m | ▲ 127% |
| Profit (loss) for the period9904 | €0.07m | -€0.02m | -€0.6m | €0.6m | €1.6m | €1.7m | €4.1m | €9.5m | ▲ 130% |
| Profit (loss) for the period to be appropriated9905 | €0.07m | -€0.02m | -€0.6m | €0.6m | €1.6m | €1.7m | €4.1m | €9.5m | ▲ 130% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €34.2m | €24.5m | €17.3m | €14.6m | €25.3m | €30.1m | €37.1m | €39.1m | ▲ 5.4% |
| Fixed assets21/28 | €3.2m | €3.1m | €1.3m | €1.1m | €1.0m | €0.8m | €1.0m | €0.6m | ▼ 43.1% |
| Intangible fixed assets21 | €0.02m | €0.008m | €0.002m | €0.001m | €436 | €267 | €98 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €2.6m | €2.5m | €0.6m | €0.5m | €0.4m | €0.4m | €0.5m | €0.6m | ▲ 4.7% |
| Land and buildings22 | - | - | - | €0.4m | €0.3m | €0.3m | €0.4m | €0.4m | ▼ 8.2% |
| Plant, machinery and equipment23 | - | - | - | €0.04m | €0.1m | €0.1m | €0.1m | €0.2m | ▲ 54.8% |
| Furniture and vehicles24 | - | - | - | €0.02m | €0.01m | €0.005m | €0.002m | €376 | ▼ 79.8% |
| Financial fixed assets28 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.5m | €0.5m | - | - |
| Affiliated companies280/1 | - | - | - | €0.6m | €0.6m | €0.5m | €0.5m | - | - |
| Participating interests280 | - | - | - | €0.6m | €0.6m | €0.5m | €0.5m | - | - |
| Other financial fixed assets284/8 | - | - | - | - | €75 | €75 | - | - | - |
| Amounts receivable and cash guarantees285/8 | - | - | - | - | €75 | €75 | - | - | - |
| Current assets29/58 | €31.0m | €21.4m | €16.0m | €13.5m | €24.3m | €29.3m | €36.1m | €38.5m | ▲ 6.7% |
| Stocks and contracts in progress3 | €1.8m | €1.6m | €1.1m | €0.7m | €0.2m | €0 | - | - | - |
| Stocks30/36 | - | - | - | €0.7m | €0.2m | €0 | - | - | - |
| Goods purchased for resale34 | - | - | - | €0.7m | €0.2m | €0 | - | - | - |
| Amounts receivable within one year40/41 | €27.8m | €19.0m | €14.5m | €12.7m | €22.9m | €27.6m | €34.5m | €34.7m | ▲ 0.7% |
| Trade receivables40 | - | - | - | €10.5m | €17.7m | €12.9m | €19.2m | €12.0m | ▼ 37.2% |
| Other amounts receivable41 | - | - | - | €2.2m | €5.3m | €14.8m | €15.3m | €22.7m | ▲ 48.0% |
| Cash at bank and in hand54/58 | €1.0m | €0.7m | €0.4m | €0.2m | €1.1m | €1.6m | €1.6m | €2.3m | ▲ 44.3% |
| Deferred charges and accrued income490/1 | - | - | - | €0.005m | €0.005m | €0.004m | €0.007m | €1.5m | ▲ 227× |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €34.2m | €24.5m | €17.3m | €14.6m | €25.3m | €30.1m | €37.1m | €39.1m | ▲ 5.4% |
| Equity10/15 | €1.4m | €1.4m | €0.8m | €1.5m | €1.8m | €1.9m | €2.1m | €2.6m | ▲ 25.2% |
| Contributions10/11 | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Capital10 | - | - | - | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Issued capital100 | - | - | - | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Reserves13 | €1.2m | €1.2m | €0.7m | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | = |
| Non-distributable reserves130/1 | - | - | - | €0.007m | €0.007m | €0.007m | €0.007m | €0.007m | = |
| Legal reserve130 | - | - | - | €0.007m | €0.007m | €0.007m | €0.007m | €0.007m | = |
| Distributable reserves133 | - | - | - | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | = |
| Profit (loss) carried forward14 | €0.08m | €0.06m | €0.01m | €0.1m | €0.5m | €0.6m | €0.8m | €1.3m | ▲ 66.7% |
| Provisions and deferred taxes16 | €0.2m | €0.2m | €0.2m | €0.3m | €0.3m | €0.5m | €1.7m | €0.9m | ▼ 45.0% |
| Provisions for liabilities and charges160/5 | - | - | - | €0.3m | €0.3m | €0.5m | €1.7m | €0.9m | ▼ 45.0% |
| Environmental obligations163 | - | - | - | €0.3m | €0.3m | €0.5m | - | - | - |
| Other liabilities and charges164/5 | - | - | - | - | - | - | €1.7m | €0.9m | ▼ 45.0% |
| Amounts payable17/49 | €32.6m | €22.9m | €16.3m | €12.8m | €23.2m | €27.7m | €33.3m | €35.5m | ▲ 6.7% |
| Amounts payable within one year42/48 | €30.9m | €21.2m | €13.9m | €10.2m | €20.2m | €22.3m | €25.5m | €27.9m | ▲ 9.4% |
| Trade debts44 | €27.4m | €17.7m | €11.7m | €8.0m | €14.7m | €16.8m | €17.2m | €15.9m | ▼ 7.6% |
| Suppliers440/4 | - | - | - | €4.5m | €5.9m | €9.9m | €12.9m | €12.0m | ▼ 6.6% |
| Bills of exchange payable441 | - | - | - | €3.5m | €8.8m | €6.9m | €4.3m | €3.9m | ▼ 10.4% |
| Advances received on contracts in progress46 | - | - | - | €0.04m | €1.5m | €0.8m | €1.2m | €0.2m | ▼ 81.8% |
| Taxes, remuneration and social security45 | - | - | - | €2.2m | €2.7m | €3.1m | €3.2m | €2.8m | ▼ 12.8% |
| Taxes450/3 | - | - | - | €0.3m | €0.3m | €0.4m | €0.5m | €0.1m | ▼ 74.2% |
| Remuneration and social security454/9 | - | - | - | €1.9m | €2.4m | €2.7m | €2.7m | €2.7m | ▼ 0.4% |
| Other amounts payable47/48 | - | - | - | - | €1.3m | €1.6m | €3.9m | €9.0m | ▲ 131% |
| Accrued charges and deferred income492/3 | - | - | - | €2.6m | €3.0m | €5.4m | €7.7m | €7.6m | ▼ 2.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.07m | -€0.02m | -€0.6m | €0.6m | €1.6m | €1.7m | €4.1m | €9.5m | ▲ 130% |
| + Depreciation and write-downs630 | €0.3m | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | €0.09m | €0.1m | ▲ 34.1% |
| Operating cash flow (approximation) | €0.3m | €0.2m | -€0.3m | €0.8m | €1.8m | €1.9m | €4.2m | €9.7m | ▲ 128% |
| Investment in fixed assets (approximation) | - | -€0.1m | €1.6m | €0.009m | -€0.1m | €0.03m | -€0.2m | €0.3m | - |
| Change in cash | - | -€0.3m | -€0.4m | -€0.2m | €1.0m | €0.5m | -€0.06m | €0.7m | - |
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, 166 companies had the same profile as KRONES has now. Two years later, 96.4% were still going and 1.2% had gone bankrupt.
- Medium-sized
- solvency under 10%
- a profit of 5% of the balance sheet or more
- without age
96.4%
was still going
1.8%
stopped otherwise
1.2%
went bankrupt
Another 0.6% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of KRONES itself: 0.3% 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 166 companies, not a prediction for KRONES. 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 40 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 12-06-2026 | 2026-00155313 | |
| 31-12-2024 | full format | 06-06-2025 | 2025-00126452 | |
| 31-12-2023 | full format | 31-05-2024 | 2024-00106724 | |
| 31-12-2022 | full format | 05-06-2023 | 2023-00109656 | |
| 31-12-2021 | full format | 05-06-2022 | 2022-20051317 | |
| 31-12-2020 | full format | 01-07-2021 | 2021-31000013 | |
| 31-12-2019 | full format | 01-07-2020 | 2020-25400101 | |
| 31-12-2018 | full format | 11-06-2019 | 2019-19000427 | |
| 31-12-2017 | full format | 31-05-2018 | 2018-15900322 | |
| 31-12-2016 | full format | 13-06-2017 | 2017-18400520 |