KRYSALID
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 06-03-2026 PDF all 15 filings
Turnover
≈ €680,000
Estimated: probably between €560,000 and €1.2m
Total assets
€904,506▲ 12.7%
2024 · €802,557
Net result
€349,432▲ 97.3%
2024 · €177,137
Working capital
€891,320▲ 21.4%
2024 · €734,321
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€470,285
▲ 88.4%
2025
20182025
Net result
€349,432
▲ 97.3%
2025
highest quarter of the sector
20182025
Equity
€894,549
▲ 21.0%
2025
highest quarter of the sector
20182025
Total assets
€904,506
▲ 12.7%
2025
highest quarter of the sector
20182025
Debt
€9,957
▼ 84.3%
2025
20182025
Working capital
€891,320
▲ 21.4%
2025
highest quarter of the sector
20182025
Solvency
98.9%
▲ 6.8pp
2025
highest quarter of the sector
20182025
Current ratio
95.05
▲ 82.12
2025
highest quarter of the sector
20182025
Return on assets (ROA)
38.6%
▲ 16.6pp
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
Operating result€34,979-€16,387▼ 53.2%€185,078▲ 11×€80,092▼ 56.7%€208,740▲ 161%€194,343▼ 6.9%€249,669▲ 28.5%€470,285▲ 88.4%
Net result€26,363-€12,090▼ 54.1%€137,927above the sector's middle half▲ 11×€62,532above the sector's middle half▼ 54.7%€152,525above the sector's middle half▲ 144%€138,664above the sector's middle half▼ 9.1%€177,137above the sector's middle half▲ 27.7%€349,432above the sector's middle half▲ 97.3%
Equity€68,205-€80,295▲ 17.7%€218,222within the sector's middle half▲ 172%€280,753above the sector's middle half▲ 28.7%€433,278above the sector's middle half▲ 54.3%€571,942above the sector's middle half▲ 32.0%€739,079above the sector's middle half▲ 29.2%€894,549above the sector's middle half▲ 21.0%
Total assets€78,067-€105,056▲ 34.6%€270,373within the sector's middle half▲ 157%€299,043within the sector's middle half▲ 10.6%€472,416within the sector's middle half▲ 58.0%€595,127above the sector's middle half▲ 26.0%€802,557above the sector's middle half▲ 34.9%€904,506above the sector's middle half▲ 12.7%
Debt€9,862-€24,761▲ 151%€52,151▲ 111%€18,290▼ 64.9%€39,138▲ 114%€23,185▼ 40.8%€63,478▲ 174%€9,957▼ 84.3%
Working capital€67,181-€79,871▲ 18.9%€217,798above the sector's middle half▲ 173%€275,525above the sector's middle half▲ 26.5%€423,773above the sector's middle half▲ 53.8%€563,660above the sector's middle half▲ 33.0%€734,321above the sector's middle half▲ 30.3%€891,320above the sector's middle half▲ 21.4%
Solvency87.4%-76.4%▼ 10.9pp80.7%above the sector's middle half▲ 4.3pp93.9%above the sector's middle half▲ 13.2pp91.7%above the sector's middle half▼ 2.2pp96.1%above the sector's middle half▲ 4.4pp92.1%above the sector's middle half▼ 4.0pp98.9%above the sector's middle half▲ 6.8pp
Current ratio7.81-4.23▼ 3.595.18above the sector's middle half▲ 0.9516.13above the sector's middle half▲ 10.9511.83above the sector's middle half▼ 4.3025.31above the sector's middle half▲ 13.4812.93above the sector's middle half▼ 12.3895.05above the sector's middle half▲ 82.12
Return on assets (ROA)33.8%-11.5%▼ 22.3pp51.0%above the sector's middle half▲ 39.5pp20.9%within the sector's middle half▼ 30.1pp32.3%above the sector's middle half▲ 11.4pp23.3%within the sector's middle half▼ 9.0pp22.1%within the sector's middle half▼ 1.2pp38.6%above the sector's middle half▲ 16.6pp
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.
The operating result for 2025 is 88% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
Turnover and EBIT margin are not published. The 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 €904,506
Fixed assets
€3,709 ▼ 44.5%
Current assets
€900,797 ▲ 13.2%
Equity and liabilities €904,506
Equity
€894,549 ▲ 21.0%
Debt
€9,957 ▼ 84.3%
Debt's share of the balance-sheet total falls from 7.9% to 1.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€472,954▲
2024 · €252,338
Cash flow
€352,101▲
2024 · €179,806
Debt to equity
0.01▼
2024 · 0.09
ROE
39.1%▲
2024 · 24.0%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€9,477▼
2024 · €61,558
Income taxes
€138,509▲
2024 · €73,119
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €4,884 | €5,760 | €1,165 | €1,065 | - |
| Depreciation and write-downs of the year | - | €1,563 | €2,388 | €2,669 | €2,669 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €601 | €600 | - | - | €1,563 | €2,388 | €2,669 | €2,669 | = |
| Other operating charges640/8 | - | - | - | €347 | €347 | €434 | €387 | €400 | ▲ 3.4% |
| Gross operating margin9900 | €78,973 | €64,332 | €217,706 | €80,439 | €210,650 | €197,165 | €252,725 | €473,354 | ▲ 87.3% |
| Operating profit (loss)9901 | €34,979 | €16,387 | €185,078 | €80,092 | €208,740 | €194,343 | €249,669 | €470,285 | ▲ 88.4% |
| Financial income75/76B | - | - | - | €235 | - | €27 | €1,173 | €18,368 | ▲ 16× |
| Recurring financial income75 | - | - | €7 | €235 | - | €27 | €1,173 | €18,368 | ▲ 16× |
| Financial charges65/66B | - | - | - | €319 | €352 | €603 | €586 | €712 | ▲ 21.5% |
| Recurring financial charges65 | €280 | €297 | €292 | €319 | €352 | €603 | €586 | €712 | ▲ 21.5% |
| Profit (loss) for the period before taxes9903 | €34,699 | €16,090 | €184,793 | €80,008 | €208,388 | €193,767 | €250,256 | €487,941 | ▲ 95.0% |
| Income taxes67/77 | €8,336 | €4,000 | €46,866 | €17,476 | €55,863 | €55,103 | €73,119 | €138,509 | ▲ 89.4% |
| Profit (loss) for the period9904 | €26,363 | €12,090 | €137,927 | €62,532 | €152,525 | €138,664 | €177,137 | €349,432 | ▲ 97.3% |
| Profit (loss) for the period to be appropriated9905 | €26,363 | €12,090 | €137,927 | €62,532 | €152,525 | €138,664 | €177,137 | €349,432 | ▲ 97.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €78,067 | €105,056 | €270,373 | €299,043 | €472,416 | €595,127 | €802,557 | €904,506 | ▲ 12.7% |
| Fixed assets21/28 | €1,024 | €424 | €424 | €5,308 | €9,505 | €8,282 | €6,678 | €3,709 | ▼ 44.5% |
| Tangible fixed assets22/27 | €600 | - | - | €4,884 | €9,081 | €7,858 | €6,254 | €3,585 | ▼ 42.7% |
| Furniture and vehicles24 | - | - | - | €4,884 | €9,081 | €7,858 | €6,254 | €3,585 | ▼ 42.7% |
| Financial fixed assets28 | €424 | €424 | €424 | €424 | €424 | €424 | €424 | €124 | ▼ 70.8% |
| Current assets29/58 | €77,043 | €104,632 | €269,949 | €293,735 | €462,911 | €586,845 | €795,879 | €900,797 | ▲ 13.2% |
| Amounts receivable within one year40/41 | - | €28,328 | €6,820 | - | - | €37,772 | €64,068 | €5,180 | ▼ 91.9% |
| Trade receivables40 | - | - | - | - | - | €37,429 | €36,239 | - | - |
| Other amounts receivable41 | - | - | - | - | - | €343 | €27,829 | €5,180 | ▼ 81.4% |
| Current investments50/53 | - | - | - | - | - | - | €650,000 | €800,000 | ▲ 23.1% |
| Cash at bank and in hand54/58 | €32,473 | €76,304 | €263,023 | €293,354 | €462,911 | €549,073 | €81,811 | €95,617 | ▲ 16.9% |
| Deferred charges and accrued income490/1 | - | - | - | €381 | - | - | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €78,067 | €105,056 | €270,373 | €299,043 | €472,416 | €595,127 | €802,557 | €904,506 | ▲ 12.7% |
| Equity10/15 | €68,205 | €80,295 | €218,222 | €280,753 | €433,278 | €571,942 | €739,079 | €894,549 | ▲ 21.0% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Capital10 | - | - | - | €12,400 | - | - | - | - | - |
| Issued capital100 | - | - | - | €18,600 | - | - | - | - | - |
| Uncalled capital101 | - | - | - | €6,200 | - | - | - | - | - |
| Reserves13 | €55,805 | €67,895 | €205,822 | €268,353 | €420,878 | €559,542 | €726,679 | €882,149 | ▲ 21.4% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | - | - | - | €1,860 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €266,493 | €419,018 | €557,682 | €724,819 | €880,289 | ▲ 21.4% |
| Amounts payable17/49 | €9,862 | €24,761 | €52,151 | €18,290 | €39,138 | €23,185 | €63,478 | €9,957 | ▼ 84.3% |
| Amounts payable within one year42/48 | €9,862 | €24,761 | €52,151 | €18,210 | €39,138 | €23,185 | €61,558 | €9,477 | ▼ 84.6% |
| Trade debts44 | - | - | €1,365 | €1,118 | €2,148 | €1,125 | €58,980 | €4,516 | ▼ 92.3% |
| Suppliers440/4 | - | - | - | €318 | €902 | - | €56,832 | €4,516 | ▼ 92.1% |
| Bills of exchange payable441 | - | - | - | €800 | €1,246 | €1,125 | €2,148 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €14,326 | €33,678 | €22,060 | €2,578 | €2,578 | = |
| Taxes450/3 | - | - | - | €9,170 | €31,100 | €19,482 | - | - | - |
| Remuneration and social security454/9 | - | - | - | €5,156 | €2,578 | €2,578 | €2,578 | €2,578 | = |
| Other amounts payable47/48 | - | - | - | €2,766 | €3,312 | - | - | €2,383 | - |
| Accrued charges and deferred income492/3 | - | - | - | €80 | - | - | €1,920 | €480 | ▼ 75.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €26,363 | €12,090 | €137,927 | €62,532 | €152,525 | €138,664 | €177,137 | €349,432 | ▲ 97.3% |
| + Depreciation and write-downs630 | €601 | €600 | - | - | €1,563 | €2,388 | €2,669 | €2,669 | = |
| Operating cash flow (approximation) | €26,964 | €12,690 | €137,927 | €62,532 | €154,088 | €141,052 | €179,806 | €352,101 | ▲ 95.8% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€4,884 | -€5,760 | -€1,165 | -€1,065 | €300 | - |
| Change in cash | - | €43,831 | €186,719 | €30,331 | €169,557 | €86,162 | -€467,262 | €13,806 | - |
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, 17,811 companies had the same profile as KRYSALID has now. Two years later, 96.5% were still going and 0.3% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
96.5%
was still going
3.1%
stopped otherwise
0.3%
went bankrupt
That fits the bankruptcy probability of KRYSALID 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 17,811 companies, not a prediction for KRYSALID. 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 15 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 06-03-2026 | 2026-00050904 | |
| 31-12-2024 | micro format | 15-06-2025 | 2025-00146793 | |
| 31-12-2023 | micro format | 27-08-2024 | 2024-00388214 | |
| 31-12-2022 | micro format | 26-06-2023 | 2023-00164737 | |
| 31-12-2021 | micro format | 20-07-2022 | 2022-20212953 | |
| 31-12-2020 | micro format | 28-07-2021 | 2021-42000077 | |
| 31-12-2019 | micro format | 23-07-2020 | 2020-33500433 | |
| 31-12-2018 | micro format | 01-07-2019 | 2019-26700429 | |
| 31-12-2017 | micro format | 11-07-2018 | 2018-31900067 | |
| 31-12-2016 | micro format | 06-07-2017 | 2017-28500160 |