MARKT 5
ActiveFinancials · financial year 2026, abbreviated format
Annual accounts 2026 filed on 29-10-2026 at the NBB all 3 filings
Every figure per financial year
The operating result for 2026 is 20% lower than in 2025.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Staff
| Item | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|
| Employees at the balance-sheet date | 7 | 2 | 4 |
| full-time | 7 | 2 | 3 |
| part-time | - | - | 1 |
| in full-time equivalents | 7 | 2 | 3.7 |
| Average over the year, in full-time equivalents | 3.6 | 5 | 5.2 |
| On a permanent contract | 3 | 2 | 4 |
| Joined | 25 | 20 | 22 |
| Left | 17 | 23 | 20 |
| Training hours | 289 | 272 | 320 |
Source: social balance sheet in the 2024 to 2026 annual accounts
Securities and guarantees
| Item | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|
| Debts secured on the company's own assets | €411,705 | €413,345 | €338,767 |
| Pledge on the business | €320,000 | €320,000 | €320,000 |
| Carrying value of the other pledged assets | €576,187 | €523,438 | €456,698 |
Source: notes to the 2024 to 2026 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|
| Tangible fixed assets | €658,004 | €77,224 | €30,703 |
| Depreciation and write-downs of the year | €80,577 | €76,741 | €85,692 |
Source: notes to the 2024 to 2026 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €150 awarded · €150 paid| Line | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | €237,773 | €218,141 | €256,231 | ▲ 17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €80,577 | €76,741 | €85,692 | ▲ 11.7% |
| Other operating charges640/8 | €2,521 | €2,903 | €2,951 | ▲ 1.6% |
| Gross operating margin9900 | €395,464 | €431,792 | €452,079 | ▲ 4.7% |
| Operating profit (loss)9901 | €74,593 | €134,006 | €107,205 | ▼ 20.0% |
| Financial income75/76B | €2,359 | €1,120 | €3,094 | ▲ 176% |
| Recurring financial income75 | €2,359 | €1,120 | €3,094 | ▲ 176% |
| Financial charges65/66B | €27,651 | €17,428 | €17,724 | ▲ 1.7% |
| Recurring financial charges65 | €27,651 | €17,428 | €17,724 | ▲ 1.7% |
| Profit (loss) for the period before taxes9903 | €49,301 | €117,699 | €92,576 | ▼ 21.3% |
| Income taxes67/77 | - | €13,264 | €21,375 | ▲ 61.1% |
| Profit (loss) for the period9904 | €49,301 | €104,435 | €71,201 | ▼ 31.8% |
| Profit (loss) for the period to be appropriated9905 | €49,301 | €104,435 | €71,201 | ▼ 31.8% |
| Line | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €645,416 | €739,890 | €751,916 | ▲ 1.6% |
| Fixed assets21/28 | €583,430 | €583,913 | €528,924 | ▼ 9.4% |
| Tangible fixed assets22/27 | €583,430 | €583,913 | €528,924 | ▼ 9.4% |
| Plant, machinery and equipment23 | €576,187 | €523,438 | €483,211 | ▼ 7.7% |
| Furniture and vehicles24 | €7,243 | €60,476 | €45,713 | ▼ 24.4% |
| Current assets29/58 | €61,987 | €155,976 | €222,992 | ▲ 43.0% |
| Stocks and contracts in progress3 | €11,516 | €12,751 | €12,488 | ▼ 2.1% |
| Stocks30/36 | €11,516 | €12,751 | €12,488 | ▼ 2.1% |
| Amounts receivable within one year40/41 | €315 | €22,115 | €66,286 | ▲ 200% |
| Other amounts receivable41 | €315 | €22,115 | €66,286 | ▲ 200% |
| Cash at bank and in hand54/58 | €46,160 | €117,533 | €139,815 | ▲ 19.0% |
| Deferred charges and accrued income490/1 | €3,995 | €3,577 | €4,404 | ▲ 23.1% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €645,416 | €739,890 | €751,916 | ▲ 1.6% |
| Equity10/15 | €149,301 | €250,416 | €321,617 | ▲ 28.4% |
| Contributions10/11 | €100,000 | €100,000 | €100,000 | = |
| Reserves13 | €25,000 | €100,000 | €100,000 | = |
| Distributable reserves133 | €25,000 | €100,000 | €100,000 | = |
| Profit (loss) carried forward14 | €24,301 | €50,416 | €121,617 | ▲ 141% |
| Amounts payable17/49 | €496,116 | €489,474 | €430,299 | ▼ 12.1% |
| Amounts payable after more than one year17 | €351,790 | €338,767 | €262,030 | ▼ 22.7% |
| Financial debts170/4 | €351,790 | €338,767 | €262,030 | ▼ 22.7% |
| Amounts payable within one year42/48 | €144,325 | €150,706 | €168,269 | ▲ 11.7% |
| Current portion of amounts payable after more than one year42 | €59,914 | €74,578 | €76,737 | ▲ 2.9% |
| Trade debts44 | €40,912 | €29,183 | €50,103 | ▲ 71.7% |
| Suppliers440/4 | €40,912 | €29,183 | €50,103 | ▲ 71.7% |
| Taxes, remuneration and social security45 | €25,347 | €43,626 | €41,429 | ▼ 5.0% |
| Taxes450/3 | €12,188 | €19,732 | €28,728 | ▲ 45.6% |
| Remuneration and social security454/9 | €13,159 | €23,894 | €12,701 | ▼ 46.8% |
| Other amounts payable47/48 | €18,152 | €3,320 | - | - |
| Line | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €49,301 | €104,435 | €71,201 | ▼ 31.8% |
| + Depreciation and write-downs630 | €80,577 | €76,741 | €85,692 | ▲ 11.7% |
| Operating cash flow (approximation) | €129,878 | €181,176 | €156,894 | ▼ 13.4% |
| Investment in fixed assets (approximation) | - | -€77,224 | -€30,703 | ▲ 60.2% |
| Change in cash | - | €71,373 | €22,282 | ▼ 68.8% |
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, 39,278 companies had the same profile as MARKT 5 has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of MARKT 5 itself: 0.9% 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 39,278 companies, not a prediction for MARKT 5. 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.