MACGYVER
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 09-06-2026 PDF all 16 filings
Equity
€164,747▼ 28.6%
2024 · €230,592
Total assets
€227,218▼ 12.9%
2024 · €260,751
Net result
-€23,064
2024 · €14,994
Working capital
€115,272▼ 37.7%
2024 · €184,903
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€35,831
2025
20182025
Net result
-€23,064
2025
lowest quarter of the sector
20182025
Equity
€164,747
▼ 28.6%
2025
highest quarter of the sector
20182025
Total assets
€227,218
▼ 12.9%
2025
middle half of the sector
20182025
Debt
€62,471
▲ 107%
2025
20182025
Working capital
€115,272
▼ 37.7%
2025
highest quarter of the sector
20182025
Solvency
72.5%
▼ 15.9pp
2025
middle half of the sector
20182025
Current ratio
2.85
▼ 5.90
2025
middle half of the sector
20182025
Return on assets (ROA)
-10.2%
▼ 15.9pp
2025
lowest 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-€0.8m--€0.6m▲ 27.6%-€0.5m▲ 17.9%-€0.4m▲ 23.1%€0.1m€0.06m▼ 45.5%€0.02m▼ 68.0%-€0.04m
Net result€0.06m--€0.003m-€0.006mbelow the sector's middle half▼ 81.1%€0.005mwithin the sector's middle half€0.07mwithin the sector's middle half▲ 14×€0.03mabove the sector's middle half▼ 59.4%€0.01mwithin the sector's middle half▼ 50.0%-€0.02mbelow the sector's middle half
Equity€1.1m-€0.7m▼ 34.8%€0.4mwithin the sector's middle half▼ 47.5%€0.1mwithin the sector's middle half▼ 69.5%€0.2mwithin the sector's middle half▲ 66.2%€0.2mabove the sector's middle half▲ 16.2%€0.2mabove the sector's middle half▲ 7.0%€0.2mabove the sector's middle half▼ 28.6%
Total assets€1.9m-€1.2m▼ 36.9%€0.6mwithin the sector's middle half▼ 49.5%€0.2mbelow the sector's middle half▼ 67.7%€0.4mwithin the sector's middle half▲ 99.6%€0.3mwithin the sector's middle half▼ 32.0%€0.3mabove the sector's middle half▲ 0.5%€0.2mwithin the sector's middle half▼ 12.9%
Debt€0.4m-€0.2m▼ 40.8%€0.1m▼ 49.2%€0.08m▼ 32.0%€0.2m▲ 146%€0.04m▼ 77.6%€0.03m▼ 31.3%€0.06m▲ 107%
Working capital-€0.005m-€0.001m€0.04mwithin the sector's middle half▲ 34×€0.06mwithin the sector's middle half▲ 64.8%€0.1mwithin the sector's middle half▲ 138%€0.2mabove the sector's middle half▲ 33.8%€0.2mabove the sector's middle half▼ 1.6%€0.1mabove the sector's middle half▼ 37.7%
Solvency57.5%-59.4%▲ 1.9pp61.8%within the sector's middle half▲ 2.4pp58.4%within the sector's middle half▼ 3.4pp48.6%within the sector's middle half▼ 9.7pp83.1%above the sector's middle half▲ 34.5pp88.4%above the sector's middle half▲ 5.4pp72.5%within the sector's middle half▼ 15.9pp
Current ratio0.97-1.01▲ 0.041.63within the sector's middle half▲ 0.622.99within the sector's middle half▲ 1.362.15within the sector's middle half▼ 0.847.61above the sector's middle half▲ 5.458.75above the sector's middle half▲ 1.142.85within the sector's middle half▼ 5.90
Return on assets (ROA)3.1%--0.3%▼ 3.4pp-1.1%within the sector's middle half▼ 0.8pp2.8%within the sector's middle half▲ 3.9pp19.4%above the sector's middle half▲ 16.6pp11.6%within the sector's middle half▼ 7.8pp5.8%within the sector's middle half▼ 5.8pp-10.2%below the sector's middle half▼ 15.9pp
above
within
below
The sector band is the middle half of the companies in Motion picture, video and television programme production, sound recording and music publishing activities (NACE 59). 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 €35,831, after a profit of €20,537 in 2024.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €227,218
Fixed assets
€49,475 ▼ 4.8%
Current assets
€177,743 ▼ 14.9%
Equity and liabilities €227,218
Equity
€164,747 ▼ 28.6%
Debt
€62,471 ▲ 107%
Debt's share of the balance-sheet total rises from 11.6% to 27.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€18,293▼
2024 · €37,388
Cash flow
-€5,527▼
2024 · €31,845
Debt to equity
0.38▲
2024 · 0.13
ROE
-14.0%▼
2024 · 6.5%
Interest coverage
7.01▲
2024 · -10.41
Debt ≤ 1 year
€62,471▲
2024 · €23,871
Debt > 1 year
€0▼
2024 · €6,288
Income taxes
€0▼
2024 · €9,140
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 | €3,168 | €43,104 | €8,515 | €27,416 | €15,564 |
| Intangible fixed assets | €25,000 | - | - | - | - |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €424,653 | €26,251 | €19,134 | €16,851 | €17,538 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €0.08m | - | €42 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1.1m | €0.7m | €0.5m | €0.4m | €0.03m | €0.02m | €0.02m | €0.02m | ▲ 4.1% |
| Other operating charges640/8 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | ▲ 3.0% |
| Non-recurring operating charges66A | - | - | - | €0.001m | €432 | €260 | - | - | - |
| Gross operating margin9900 | €0.3m | €0.09m | €0.08m | €0.07m | €0.1m | €0.08m | €0.04m | -€0.02m | - |
| Operating profit (loss)9901 | -€0.8m | -€0.6m | -€0.5m | -€0.4m | €0.1m | €0.06m | €0.02m | -€0.04m | - |
| Financial income75/76B | - | - | - | €0.3m | €0.001m | €8 | €5 | €0.01m | ▲ 2,031× |
| Recurring financial income75 | €0.6m | €0.4m | €0.3m | €0.3m | €0.001m | €8 | €5 | €0.01m | ▲ 2,031× |
| Financial charges65/66B | - | - | - | €0.001m | €0.01m | €0.02m | -€0.004m | -€0.003m | ▲ 27.3% |
| Recurring financial charges65 | €0.02m | €0.006m | €0.003m | €0.001m | €0.01m | €0.02m | -€0.004m | -€0.003m | ▲ 27.3% |
| Profit (loss) for the period before taxes9903 | -€0.2m | -€0.2m | -€0.1m | -€0.1m | €0.1m | €0.05m | €0.02m | -€0.02m | - |
| Transfer from deferred taxes780 | - | - | - | €0.1m | - | - | - | - | - |
| Income taxes67/77 | €0.04m | €0.007m | €0.002m | €0.006m | €0.03m | €0.02m | €0.009m | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €0.06m | -€0.003m | -€0.006m | €0.005m | €0.07m | €0.03m | €0.01m | -€0.02m | - |
| Profit (loss) for the period to be appropriated9905 | €0.06m | -€0.003m | -€0.006m | €0.005m | €0.07m | €0.03m | €0.01m | -€0.02m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.9m | €1.2m | €0.6m | €0.2m | €0.4m | €0.3m | €0.3m | €0.2m | ▼ 12.9% |
| Fixed assets21/28 | €1.7m | €1.0m | €0.5m | €0.1m | €0.1m | €0.04m | €0.05m | €0.05m | ▼ 4.8% |
| Intangible fixed assets21 | €1.5m | €0.9m | €0.4m | €0.02m | €0.01m | €0.003m | - | - | - |
| Tangible fixed assets22/27 | €0.2m | €0.1m | €0.1m | €0.08m | €0.1m | €0.04m | €0.05m | €0.05m | ▼ 4.8% |
| Plant, machinery and equipment23 | - | - | - | €0.005m | €0.009m | €0.01m | €0.03m | €0.03m | ▲ 12.0% |
| Furniture and vehicles24 | - | - | - | €0.08m | €0.07m | - | €0.005m | €0.006m | ▲ 28.0% |
| Leasing and similar rights25 | - | - | - | - | €0.03m | €0.03m | €0.02m | €0.01m | ▼ 36.7% |
| Current assets29/58 | €0.2m | €0.1m | €0.09m | €0.09m | €0.3m | €0.2m | €0.2m | €0.2m | ▼ 14.9% |
| Amounts receivable within one year40/41 | €0.1m | €0.08m | €0.07m | €0.06m | €0.1m | €0.07m | €0.07m | €0.08m | ▲ 15.6% |
| Trade receivables40 | - | - | - | €0.06m | €0.1m | €0.07m | €0.07m | €0.08m | ▲ 9.7% |
| Other amounts receivable41 | - | - | - | €150 | €150 | €0.006m | €0.001m | €0.005m | ▲ 481% |
| Current investments50/53 | - | - | - | - | €0.08m | €0.08m | €0.09m | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €0.04m | €0.02m | €0.03m | €0.03m | €0.04m | €0.06m | €0.05m | €0.1m | ▲ 85.7% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €0.001m | €235 | €94 | ▼ 60.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.9m | €1.2m | €0.6m | €0.2m | €0.4m | €0.3m | €0.3m | €0.2m | ▼ 12.9% |
| Equity10/15 | €1.1m | €0.7m | €0.4m | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 28.6% |
| Contributions10/11 | €0.02m | €0.02m | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.09m | €0.09m | €0.09m | €0.09m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 20.2% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | - | - | - | - |
| Distributable reserves133 | - | - | - | €0.09m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 20.2% |
| Profit (loss) carried forward14 | €0.003m | -€0.001m | -€0.007m | -€0.002m | - | - | - | -€0.02m | - |
| Provisions and deferred taxes16 | €0.4m | €0.2m | €0.1m | - | - | - | - | - | - |
| Amounts payable17/49 | €0.4m | €0.2m | €0.1m | €0.08m | €0.2m | €0.04m | €0.03m | €0.06m | ▲ 107% |
| Amounts payable after more than one year17 | €0.1m | €0.1m | €0.06m | €0.05m | €0.07m | €0.02m | €0.006m | €0 | ▼ 100% |
| Financial debts170/4 | - | - | - | €0.05m | €0.07m | €0.02m | €0.006m | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €0.2m | €0.1m | €0.06m | €0.03m | €0.1m | €0.03m | €0.02m | €0.06m | ▲ 162% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.01m | €0.009m | €0.009m | €0.009m | €0.006m | ▼ 31.4% |
| Trade debts44 | €0.01m | €0.02m | €80 | €305 | €0.02m | €0.003m | €0.01m | €0.01m | ▼ 9.0% |
| Suppliers440/4 | - | - | - | €305 | €0.02m | €0.003m | €0.01m | €0.01m | ▼ 9.0% |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0.02m | €0.008m | €0.002m | €0.005m | ▲ 127% |
| Taxes450/3 | - | - | - | €0.01m | €0.02m | €0.008m | €0.002m | €0.005m | ▲ 127% |
| Other amounts payable47/48 | - | - | - | €0.009m | €0.08m | €0.008m | - | €0.04m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.06m | -€0.003m | -€0.006m | €0.005m | €0.07m | €0.03m | €0.01m | -€0.02m | - |
| + Depreciation and write-downs630 | €1.1m | €0.7m | €0.5m | €0.4m | €0.03m | €0.02m | €0.02m | €0.02m | ▲ 4.1% |
| Operating cash flow (approximation) | €1.1m | €0.7m | €0.5m | €0.4m | €0.1m | €0.05m | €0.03m | -€0.006m | - |
| Investment in fixed assets (approximation) | - | -€0.005m | €0.002m | -€0.03m | -€0.04m | €0.06m | -€0.03m | -€0.02m | ▲ 41.5% |
| Change in cash | - | -€0.02m | €0.008m | €0.003m | €0.008m | €0.02m | -€0.01m | €0.04m | - |
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 MACGYVER 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 MACGYVER itself is lower: 0.1% within 12 months. It rests on far more data about MACGYVER 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 MACGYVER. 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 16 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 09-06-2026 | 2026-00147169 | |
| 31-12-2024 | micro format | 18-06-2025 | 2025-00160093 | |
| 31-12-2023 | micro format | 01-07-2024 | 2024-00190626 | |
| 31-12-2022 | abbreviated format | 29-06-2023 | 2023-00185150 | |
| 31-12-2021 | abbreviated format | 29-06-2022 | 2022-20144949 | |
| 31-12-2020 | abbreviated format | 30-06-2021 | 2021-28000224 | |
| 31-12-2019 | abbreviated format | 30-06-2020 | 2020-23400032 | |
| 31-12-2018 | abbreviated format | 26-07-2019 | 2019-38600379 | |
| 31-12-2017 | micro format | 28-08-2018 | 2018-53600256 | |
| 31-12-2016 | micro format | 26-07-2017 | 2017-37000226 |