Masterplan K
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 10-07-2026 at the NBB all 2 filings
Every figure per financial year
The operating result for 2025 is 28% lower than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 2024 | 2025 |
|---|---|---|
| Financial fixed assets | - | €0 |
| Depreciation and write-downs of the year | €186 | €287 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €186 | €287 | ▲ 54.4% |
| Other operating charges640/8 | €387 | €550 | ▲ 41.9% |
| Gross operating margin9900 | €13,293 | €10,000 | ▼ 24.8% |
| Operating profit (loss)9901 | €12,720 | €9,163 | ▼ 28.0% |
| Financial charges65/66B | €39 | €70 | ▲ 80.8% |
| Recurring financial charges65 | €39 | €70 | ▲ 80.8% |
| Non-recurring financial charges66B | €39 | €0 | ▼ 100% |
| Profit (loss) for the period before taxes9903 | €12,681 | €9,093 | ▼ 28.3% |
| Income taxes67/77 | €2,808 | €2,196 | ▼ 21.8% |
| Profit (loss) for the period9904 | €9,873 | €6,897 | ▼ 30.1% |
| Profit (loss) for the period to be appropriated9905 | €9,873 | €6,897 | ▼ 30.1% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €20,872 | €27,799 | ▲ 33.2% |
| Formation expenses20 | €1,248 | €961 | ▼ 23.0% |
| Current assets29/58 | €19,625 | €26,838 | ▲ 36.8% |
| Amounts receivable within one year40/41 | - | €7,569 | - |
| Trade receivables40 | - | €7,260 | - |
| Other amounts receivable41 | - | €309 | - |
| Cash at bank and in hand54/58 | €18,624 | €18,260 | ▼ 2.0% |
| Deferred charges and accrued income490/1 | €1,001 | €1,009 | ▲ 0.7% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €20,872 | €27,799 | ▲ 33.2% |
| Equity10/15 | €12,373 | €19,270 | ▲ 55.7% |
| Contributions10/11 | €2,500 | €2,500 | = |
| Reserves13 | - | €10,000 | - |
| Distributable reserves133 | - | €10,000 | - |
| Profit (loss) carried forward14 | €9,873 | €6,770 | ▼ 31.4% |
| Amounts payable17/49 | €8,499 | €8,529 | ▲ 0.3% |
| Amounts payable within one year42/48 | €8,499 | €8,529 | ▲ 0.3% |
| Trade debts44 | €195 | €173 | ▼ 11.3% |
| Suppliers440/4 | €195 | €173 | ▼ 11.3% |
| Taxes, remuneration and social security45 | €6,553 | €6,173 | ▼ 5.8% |
| Taxes450/3 | €4,503 | €4,123 | ▼ 8.4% |
| Remuneration and social security454/9 | €2,050 | €2,050 | = |
| Other amounts payable47/48 | €1,752 | €2,183 | ▲ 24.6% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €9,873 | €6,897 | ▼ 30.1% |
| + Depreciation and write-downs630 | €186 | €287 | ▲ 54.4% |
| Operating cash flow (approximation) | €10,059 | €7,184 | ▼ 28.6% |
| Change in cash | - | -€363 | - |
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 Masterplan K 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.
The bankruptcy probability of Masterplan K itself is lower: < 0.1% within 12 months. It rests on far more data about Masterplan K 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 39,278 companies, not a prediction for Masterplan K. 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.