LawCloud
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 28 days after the deadline Filed on 28 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00479518.
Annual accounts 2025 filed on 28-08-2026 at the NBB all 8 filings
Turnover
≈ €2.0m
Estimated: probably between €1.3m and €2.7m
Total assets
€2.9m▲ 6.6%
2024 · €2.7m
Net result
€47,175▲ 3.0%
2024 · €45,806
Working capital
-€4,780
2024 · €302,103
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€105,005
▼ 32.8%
2025
20182025
Net result
€47,175
▲ 3.0%
2025
highest quarter of the sector
20182025
Equity
€1.2m
▲ 3.9%
2025
highest quarter of the sector
20182025
Total assets
€2.9m
▲ 6.6%
2025
highest quarter of the sector
20182025
Debt
€1.7m
▲ 8.6%
2025
20182025
Working capital
-€4,780
2025
lowest quarter of the sector
20182025
Solvency
42.9%
▼ 1.1pp
2025
middle half of the sector
20182025
Current ratio
0.99
▼ 0.46
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
1.6%
▼ 0.1pp
2025
middle half of the sector
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€0.05m-€0.08m€0.03m▼ 58.5%€0.08m▲ 142%€0.05m▼ 39.0%€0.07m▲ 50.4%€0.2m▲ 122%€0.1m▼ 32.8%
Net result-€0.05m-€0.07m€0.02mwithin the sector's middle half▼ 65.5%€0.05mabove the sector's middle half▲ 126%€0.02mwithin the sector's middle half▼ 55.2%€0.02mwithin the sector's middle half▼ 29.8%€0.05mabove the sector's middle half▲ 176%€0.05mabove the sector's middle half▲ 3.0%
Equity-€0.05m-€0.02m€0.04mwithin the sector's middle half▲ 113%€0.1mwithin the sector's middle half▲ 148%€0.1mwithin the sector's middle half▲ 21.6%€0.1mwithin the sector's middle half▲ 12.5%€1.2mabove the sector's middle half▲ 700%€1.2mabove the sector's middle half▲ 3.9%
Total assets€0.05m-€0.2m▲ 304%€0.2mwithin the sector's middle half▲ 4.6%€0.5mabove the sector's middle half▲ 128%€1.0mabove the sector's middle half▲ 88.0%€1.8mabove the sector's middle half▲ 92.3%€2.7mabove the sector's middle half▲ 48.6%€2.9mabove the sector's middle half▲ 6.6%
Debt€0.1m-€0.2m▲ 92.2%€0.2m▼ 7.1%€0.4m▲ 123%€0.8m▲ 106%€1.7m▲ 105%€1.5m▼ 9.3%€1.7m▲ 8.6%
Working capital-€0.05m--€0.01m▲ 77.1%-€0.1mbelow the sector's middle half▼ 1,099%-€0.02mbelow the sector's middle half▲ 87.8%-€0.03mbelow the sector's middle half▼ 69.7%-€0.3mbelow the sector's middle half▼ 1,045%€0.3mabove the sector's middle half-€0.005mbelow the sector's middle half
Solvency-89.7%-9.7%▲ 99.4pp19.9%within the sector's middle half▲ 10.1pp21.6%within the sector's middle half▲ 1.7pp14.0%below the sector's middle half▼ 7.6pp8.2%below the sector's middle half▼ 5.8pp44.0%within the sector's middle half▲ 35.8pp42.9%within the sector's middle half▼ 1.1pp
Current ratio0.47-0.94▲ 0.470.19below the sector's middle half▼ 0.750.87below the sector's middle half▲ 0.680.88below the sector's middle half▲ 0.010.65below the sector's middle half▼ 0.231.45within the sector's middle half▲ 0.800.99below the sector's middle half▼ 0.46
Return on assets (ROA)-101.5%-32.0%▲ 133.4pp10.5%within the sector's middle half▼ 21.4pp10.4%within the sector's middle half▼ 0.1pp2.5%within the sector's middle half▼ 7.9pp0.9%within the sector's middle half▼ 1.6pp1.7%within the sector's middle half▲ 0.8pp1.6%within the sector's middle half▼ 0.1pp
Staff (FTE)0.6-1.8▲ 200%
above
within
below
The sector band is the middle half of the companies in Advertising, market research and public relations activities (NACE 73). 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 33% lower than in 2024.
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 €2.9m
Fixed assets
€2.2m ▲ 26.5%
Current assets
€699,588 ▼ 28.3%
Equity and liabilities €2.9m
Equity
€1.2m ▲ 3.9%
Debt
€1.7m ▲ 8.6%
Debt's share of the balance-sheet total rises from 56.0% to 57.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€682,657▲
2024 · €666,144
Cash flow
€624,827▲
2024 · €555,790
Debt to equity
1.33▲
2024 · 1.27
ROE
3.8%▼
2024 · 3.8%
Interest coverage
7.36▲
2024 · 6.23
Debt ≤ 1 year
€704,367▲
2024 · €673,606
Debt > 1 year
€911,624▲
2024 · €792,540
Income taxes
-€27,626▼
2024 · €3,474
Staff costs
€395,282▲
2024 · €374,382
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 | €39,392 | €28,577 | €13,930 | €167,579 | €194,919 |
| Intangible fixed assets | €243,350 | €526,230 | €846,505 | €877,110 | €883,931 |
| Financial fixed assets | €252 | - | €347 | - | - |
| Depreciation and write-downs of the year | €81,577 | €207,489 | €416,931 | €509,984 | €577,652 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 to 2025 · 7 entries · €68,202 awarded · €68,202 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 3 | €7,952 | €10,872 |
| 2024 | 2 | €3,750 | €25,330 |
| 2023 | 2 | €56,500 | €32,000 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €0.02m | €0.04m | €0.003m | ▼ 93.9% |
| Remuneration, social security and pensions62 | - | - | - | €0.04m | €0.1m | €0.3m | €0.4m | €0.4m | ▲ 5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.002m | €0.009m | €0.02m | €0.08m | €0.2m | €0.4m | €0.5m | €0.6m | ▲ 13.3% |
| Other operating charges640/8 | - | - | - | €0.002m | €0.002m | €476 | €363 | €0.001m | ▲ 152% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €0.001m | €0.004m | ▲ 332% |
| Gross operating margin9900 | -€0.002m | €0.2m | €0.1m | €0.2m | €0.4m | €0.8m | €1.0m | €1.1m | ▲ 4.0% |
| Operating profit (loss)9901 | -€0.05m | €0.08m | €0.03m | €0.08m | €0.05m | €0.07m | €0.2m | €0.1m | ▼ 32.8% |
| Financial income75/76B | - | - | - | €0.001m | €92 | €0 | - | €0.007m | - |
| Recurring financial income75 | €287 | €169 | €471 | €0.001m | €92 | €0 | - | €0.007m | - |
| Financial charges65/66B | - | - | - | €0.009m | €0.02m | €0.05m | €0.1m | €0.09m | ▼ 13.2% |
| Recurring financial charges65 | €0.002m | €0.008m | €0.006m | €0.009m | €0.02m | €0.05m | €0.1m | €0.09m | ▼ 13.2% |
| Profit (loss) for the period before taxes9903 | -€0.05m | €0.07m | €0.03m | €0.07m | €0.03m | €0.02m | €0.05m | €0.02m | ▼ 60.3% |
| Income taxes67/77 | €383 | €340 | €0.003m | €0.02m | €0.006m | €0.001m | €0.003m | -€0.03m | - |
| Profit (loss) for the period9904 | -€0.05m | €0.07m | €0.02m | €0.05m | €0.02m | €0.02m | €0.05m | €0.05m | ▲ 3.0% |
| Profit (loss) for the period to be appropriated9905 | -€0.05m | €0.07m | €0.02m | €0.05m | €0.02m | €0.02m | €0.05m | €0.05m | ▲ 3.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.05m | €0.2m | €0.2m | €0.5m | €1.0m | €1.8m | €2.7m | €2.9m | ▲ 6.6% |
| Formation expenses20 | - | - | - | - | - | €0.02m | €0.01m | €0.009m | ▼ 28.6% |
| Fixed assets21/28 | €0.006m | €0.03m | €0.2m | €0.4m | €0.7m | €1.2m | €1.7m | €2.2m | ▲ 26.5% |
| Intangible fixed assets21 | - | €0.03m | €0.2m | €0.4m | €0.7m | €1.1m | €1.5m | €1.8m | ▲ 19.4% |
| Tangible fixed assets22/27 | €0.002m | €0.001m | - | €0.04m | €0.06m | €0.05m | €0.2m | €0.3m | ▲ 87.4% |
| Land and buildings22 | - | - | - | €0.01m | €0.01m | €0.01m | - | - | - |
| Plant, machinery and equipment23 | - | - | - | €0.02m | €0.03m | €0.02m | €0.003m | €0.002m | ▼ 50.4% |
| Furniture and vehicles24 | - | - | - | - | €0.02m | €0.02m | €0.01m | €0.005m | ▼ 59.2% |
| Other tangible fixed assets26 | - | - | - | - | - | - | €0.2m | €0.3m | ▲ 102% |
| Financial fixed assets28 | €0.003m | - | - | €252 | €252 | €0.001m | €0.001m | €347 | ▼ 42.1% |
| Current assets29/58 | €0.05m | €0.2m | €0.03m | €0.1m | €0.2m | €0.6m | €1.0m | €0.7m | ▼ 28.3% |
| Stocks and contracts in progress3 | - | - | - | - | - | €0.1m | €0.07m | - | - |
| Contracts in progress37 | - | - | - | - | - | €0.1m | €0.07m | - | - |
| Amounts receivable within one year40/41 | €0.004m | €0.2m | €0.03m | €0.09m | €0.1m | €0.4m | €0.4m | €0.4m | ▼ 3.0% |
| Trade receivables40 | - | - | - | €0.09m | €0.1m | €0.3m | €0.4m | €0.4m | ▼ 6.4% |
| Other amounts receivable41 | - | - | - | - | €0.005m | €0.1m | €0.02m | €0.03m | ▲ 89.1% |
| Cash at bank and in hand54/58 | €0.04m | €0.02m | €0.007m | €0.02m | €0.09m | €0.1m | €0.5m | €0.3m | ▼ 42.3% |
| Deferred charges and accrued income490/1 | - | - | - | - | €0.004m | - | - | €0.006m | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.05m | €0.2m | €0.2m | €0.5m | €1.0m | €1.8m | €2.7m | €2.9m | ▲ 6.6% |
| Equity10/15 | -€0.05m | €0.02m | €0.04m | €0.1m | €0.1m | €0.1m | €1.2m | €1.2m | ▲ 3.9% |
| Contributions10/11 | €0.006m | €0.006m | €0.006m | €0.02m | €0.02m | €0.02m | €1.0m | €1.0m | = |
| Reserves13 | - | €0.002m | €0.04m | €0.09m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 26.7% |
| Distributable reserves133 | - | - | - | €0.09m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 26.7% |
| Profit (loss) carried forward14 | -€0.05m | €0.01m | €83 | €201 | €334 | €16 | €22 | €97 | ▲ 339% |
| Amounts payable17/49 | €0.1m | €0.2m | €0.2m | €0.4m | €0.8m | €1.7m | €1.5m | €1.7m | ▲ 8.6% |
| Amounts payable after more than one year17 | - | - | - | €0.2m | €0.6m | €0.7m | €0.8m | €0.9m | ▲ 15.0% |
| Financial debts170/4 | - | - | - | €0.2m | €0.6m | €0.7m | €0.8m | €0.9m | ▲ 15.0% |
| Amounts payable within one year42/48 | €0.1m | €0.2m | €0.2m | €0.1m | €0.2m | €1.0m | €0.7m | €0.7m | ▲ 4.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.02m | €0.09m | €0.4m | €0.3m | €0.4m | ▲ 6.2% |
| Trade debts44 | €0.03m | €0.06m | €0.09m | €0.09m | €0.1m | €0.3m | €0.2m | €0.1m | ▼ 26.4% |
| Suppliers440/4 | - | - | - | €0.09m | €0.1m | €0.3m | €0.2m | €0.1m | ▼ 26.4% |
| Taxes, remuneration and social security45 | - | - | - | €0.03m | €0.04m | €0.1m | €0.2m | €0.2m | ▲ 36.1% |
| Taxes450/3 | - | - | - | €0.02m | €0.02m | €0.04m | €0.09m | €0.1m | ▲ 38.6% |
| Remuneration and social security454/9 | - | - | - | €0.006m | €0.01m | €0.06m | €0.07m | €0.09m | ▲ 32.8% |
| Other amounts payable47/48 | - | - | - | - | - | €0.2m | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.03m | €0.02m | €0.008m | €0.06m | €0.04m | ▼ 32.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.05m | €0.07m | €0.02m | €0.05m | €0.02m | €0.02m | €0.05m | €0.05m | ▲ 3.0% |
| + Depreciation and write-downs630 | €0.002m | €0.009m | €0.02m | €0.08m | €0.2m | €0.4m | €0.5m | €0.6m | ▲ 13.3% |
| Operating cash flow (approximation) | -€0.05m | €0.08m | €0.05m | €0.1m | €0.2m | €0.4m | €0.6m | €0.6m | ▲ 12.4% |
| Investment in fixed assets (approximation) | - | -€0.04m | -€0.2m | -€0.3m | -€0.6m | -€0.9m | -€1.1m | -€1.0m | ▲ 2.8% |
| Change in cash | - | -€0.02m | -€0.02m | €0.02m | €0.06m | €0.05m | €0.3m | -€0.2m | - |
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, 1,639 companies had the same profile as LawCloud has now. Two years later, 95.5% were still going and 0.5% had gone bankrupt.
- Small
- 5 to 10 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
95.5%
was still going
3.7%
stopped otherwise
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of LawCloud 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 1,639 companies, not a prediction for LawCloud. 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.
Filings with the National Bank (8)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 28-08-2026 | 2026-00479518 | |
| 31-12-2024 | micro format | 23-06-2025 | 2025-00166559 | |
| 31-12-2023 | micro format | 14-03-2024 | 2024-00044961 | |
| 31-12-2022 | micro format | 16-06-2023 | 2023-00130296 | |
| 31-12-2021 | micro format | 30-05-2022 | 2022-20036718 | |
| 31-12-2020 | micro format | 10-08-2021 | 2021-47500504 | |
| 31-12-2019 | abbreviated format | 24-07-2020 | 2020-34100359 | |
| 31-12-2018 | abbreviated format | 30-08-2019 | 2019-61100323 |