MEGA 8
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 06-07-2026 at the NBB all 15 filings
Turnover
≈ €240,000
Estimated: probably between €120,000 and €610,000
Total assets
€124,477▼ 8.3%
2024 · €135,673
Net result
€12,294▼ 17.8%
2024 · €14,951
Working capital
€114,033▲ 0.9%
2024 · €113,047
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€15,617
▼ 18.9%
2025
20182025
Net result
€12,294
▼ 17.8%
2025
middle half of the sector
20182025
Equity
€118,875
▼ 0.5%
2025
middle half of the sector
20182025
Total assets
€124,477
▼ 8.3%
2025
middle half of the sector
20182025
Debt
€5,602
▼ 65.5%
2025
20182025
Working capital
€114,033
▲ 0.9%
2025
middle half of the sector
20182025
Solvency
95.5%
▲ 7.5pp
2025
highest quarter of the sector
20182025
Current ratio
21.36
▲ 13.39
2025
highest quarter of the sector
20182025
Return on assets (ROA)
9.9%
▼ 1.1pp
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€38,137-€55,195▲ 44.7%€59,837▲ 8.4%€71,315▲ 19.2%€54,139▼ 24.1%€34,987▼ 35.4%€19,262▼ 44.9%€15,617▼ 18.9%
Net result€27,070-€44,472▲ 64.3%€48,652above the sector's middle half▲ 9.4%€58,530above the sector's middle half▲ 20.3%€43,987above the sector's middle half▼ 24.8%€26,301above the sector's middle half▼ 40.2%€14,951within the sector's middle half▼ 43.2%€12,294within the sector's middle half▼ 17.8%
Equity€29,044-€48,415▲ 66.7%€68,738within the sector's middle half▲ 42.0%€91,205within the sector's middle half▲ 32.7%€105,192within the sector's middle half▲ 15.3%€117,492within the sector's middle half▲ 11.7%€119,444within the sector's middle half▲ 1.7%€118,875within the sector's middle half▼ 0.5%
Total assets€73,749-€65,794▼ 10.8%€91,460within the sector's middle half▲ 39.0%€104,674within the sector's middle half▲ 14.4%€126,951within the sector's middle half▲ 21.3%€138,157within the sector's middle half▲ 8.8%€135,673within the sector's middle half▼ 1.8%€124,477within the sector's middle half▼ 8.3%
Debt€44,706-€17,379▼ 61.1%€22,723▲ 30.8%€13,469▼ 40.7%€21,759▲ 61.6%€20,665▼ 5.0%€16,229▼ 21.5%€5,602▼ 65.5%
Working capital€9,594-€39,038▲ 307%€68,738within the sector's middle half▲ 76.1%€84,178within the sector's middle half▲ 22.5%€94,127within the sector's middle half▲ 11.8%€108,218within the sector's middle half▲ 15.0%€113,047within the sector's middle half▲ 4.5%€114,033within the sector's middle half▲ 0.9%
Solvency39.4%-73.6%▲ 34.2pp75.2%above the sector's middle half▲ 1.6pp87.1%above the sector's middle half▲ 12.0pp82.9%above the sector's middle half▼ 4.3pp85.0%above the sector's middle half▲ 2.2pp88.0%above the sector's middle half▲ 3.0pp95.5%above the sector's middle half▲ 7.5pp
Current ratio1.21-3.25▲ 2.034.03above the sector's middle half▲ 0.787.25above the sector's middle half▲ 3.225.33above the sector's middle half▼ 1.926.24above the sector's middle half▲ 0.917.97above the sector's middle half▲ 1.7321.36above the sector's middle half▲ 13.39
Return on assets (ROA)36.7%-67.6%▲ 30.9pp53.2%above the sector's middle half▼ 14.4pp55.9%above the sector's middle half▲ 2.7pp34.6%above the sector's middle half▼ 21.3pp19.0%above the sector's middle half▼ 15.6pp11.0%within the sector's middle half▼ 8.0pp9.9%within the sector's middle half▼ 1.1pp
Staff (FTE)0.3-
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 19% lower than in 2024 and the lowest since 2021. It is the fourth fall in a row.
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 €124,477
Fixed assets
€4,842 ▼ 24.3%
Current assets
€119,635 ▼ 7.5%
Equity and liabilities €124,477
Equity
€118,875 ▼ 0.5%
Debt
€5,602 ▼ 65.5%
Debt's share of the balance-sheet total falls from 12.0% to 4.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€18,592▼
2024 · €22,140
Cash flow
€15,269▼
2024 · €17,830
Quick ratio
16.06▲
2024 · 6.18
Debt to equity
0.05▼
2024 · 0.14
ROE
10.3%▼
2024 · 12.5%
Interest coverage
4.74▼
2024 · 4.75
Debt ≤ 1 year
€5,602▼
2024 · €16,229
Income taxes
€33▼
2024 · €302
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 | €7,430 | €5,918 | €1,044 | - | €1,421 |
| Depreciation and write-downs of the year | €403 | €1,880 | €2,834 | €2,878 | €2,976 |
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 | - | - | - | - | - | - | €5,000 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,398 | €10,073 | €9,377 | €403 | €1,880 | €2,834 | €2,878 | €2,976 | ▲ 3.4% |
| Other operating charges640/8 | - | - | - | €2,262 | €2,007 | €2,610 | €1,250 | €802 | ▼ 35.9% |
| Gross operating margin9900 | €62,532 | €68,355 | €72,261 | €73,980 | €58,026 | €40,430 | €23,390 | €19,394 | ▼ 17.1% |
| Operating profit (loss)9901 | €38,137 | €55,195 | €59,837 | €71,315 | €54,139 | €34,987 | €19,262 | €15,617 | ▼ 18.9% |
| Financial income75/76B | - | - | - | €1,435 | €3,186 | €789 | €652 | €634 | ▼ 2.8% |
| Recurring financial income75 | €135 | €830 | €762 | €1,435 | €3,186 | €789 | €652 | €634 | ▼ 2.8% |
| Financial charges65/66B | - | - | - | €7,003 | €6,822 | €4,422 | €4,661 | €3,923 | ▼ 15.8% |
| Recurring financial charges65 | €6,480 | €5,007 | €5,073 | €7,003 | €6,822 | €4,422 | €4,661 | €3,923 | ▼ 15.8% |
| Profit (loss) for the period before taxes9903 | €31,792 | €51,017 | €55,526 | €65,747 | €50,504 | €31,354 | €15,253 | €12,327 | ▼ 19.2% |
| Income taxes67/77 | €4,722 | €6,546 | €6,874 | €7,217 | €6,517 | €5,053 | €302 | €33 | ▼ 89.0% |
| Profit (loss) for the period9904 | €27,070 | €44,472 | €48,652 | €58,530 | €43,987 | €26,301 | €14,951 | €12,294 | ▼ 17.8% |
| Profit (loss) for the period to be appropriated9905 | €27,070 | €44,472 | €48,652 | €58,530 | €43,987 | €26,301 | €14,951 | €12,294 | ▼ 17.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €73,749 | €65,794 | €91,460 | €104,674 | €126,951 | €138,157 | €135,673 | €124,477 | ▼ 8.3% |
| Fixed assets21/28 | €19,450 | €9,377 | - | €7,027 | €11,064 | €9,275 | €6,396 | €4,842 | ▼ 24.3% |
| Tangible fixed assets22/27 | €19,450 | €9,377 | - | €7,027 | €11,064 | €9,275 | €6,396 | €4,842 | ▼ 24.3% |
| Plant, machinery and equipment23 | - | - | - | €7,027 | €11,064 | €9,275 | €6,396 | €3,518 | ▼ 45.0% |
| Furniture and vehicles24 | - | - | - | - | - | - | - | €1,324 | - |
| Current assets29/58 | €54,299 | €56,417 | €91,460 | €97,647 | €115,887 | €128,883 | €129,277 | €119,635 | ▼ 7.5% |
| Amounts receivable after more than one year29 | - | - | - | - | - | €24,973 | €26,827 | €26,827 | = |
| Other amounts receivable291 | - | - | - | - | - | €24,973 | €26,827 | €26,827 | = |
| Stocks and contracts in progress3 | €12,275 | €12,049 | €26,118 | €36,505 | €54,171 | €30,680 | €28,905 | €29,693 | ▲ 2.7% |
| Stocks30/36 | - | - | - | €36,505 | €33,942 | €30,680 | €28,905 | €29,693 | ▲ 2.7% |
| Contracts in progress37 | - | - | - | - | €20,230 | - | - | - | - |
| Amounts receivable within one year40/41 | €8,361 | €8,603 | €11,351 | €9,118 | €12,925 | €32,335 | €31,637 | €31,919 | ▲ 0.9% |
| Trade receivables40 | - | - | - | €8,464 | €8,920 | €32,262 | €31,435 | €31,620 | ▲ 0.6% |
| Other amounts receivable41 | - | - | - | €653 | €4,005 | €73 | €202 | €299 | ▲ 48.3% |
| Cash at bank and in hand54/58 | €33,039 | €35,528 | €53,139 | €50,940 | €47,695 | €39,402 | €41,054 | €30,559 | ▼ 25.6% |
| Deferred charges and accrued income490/1 | - | - | - | €1,084 | €1,095 | €1,492 | €854 | €638 | ▼ 25.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €73,749 | €65,794 | €91,460 | €104,674 | €126,951 | €138,157 | €135,673 | €124,477 | ▼ 8.3% |
| Equity10/15 | €29,044 | €48,415 | €68,738 | €91,205 | €105,192 | €117,492 | €119,444 | €118,875 | ▼ 0.5% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €10,444 | €29,815 | €50,138 | €72,605 | €86,592 | €98,892 | €100,844 | €100,275 | ▼ 0.6% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | - | €70,745 | €84,732 | €97,032 | €100,844 | €100,275 | ▼ 0.6% |
| Amounts payable17/49 | €44,706 | €17,379 | €22,723 | €13,469 | €21,759 | €20,665 | €16,229 | €5,602 | ▼ 65.5% |
| Amounts payable within one year42/48 | €44,706 | €17,379 | €22,723 | €13,469 | €21,759 | €20,665 | €16,229 | €5,602 | ▼ 65.5% |
| Trade debts44 | €4,469 | - | €4,965 | - | - | - | €405 | €115 | ▼ 71.7% |
| Suppliers440/4 | - | - | - | - | - | - | €405 | €115 | ▼ 71.7% |
| Taxes, remuneration and social security45 | - | - | - | €13,469 | €17,862 | €12,713 | €6,136 | €5,488 | ▼ 10.6% |
| Taxes450/3 | - | - | - | €13,469 | €17,862 | €12,713 | €6,136 | €5,488 | ▼ 10.6% |
| Other amounts payable47/48 | - | - | - | - | €3,897 | €7,952 | €9,688 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €27,070 | €44,472 | €48,652 | €58,530 | €43,987 | €26,301 | €14,951 | €12,294 | ▼ 17.8% |
| + Depreciation and write-downs630 | €12,398 | €10,073 | €9,377 | €403 | €1,880 | €2,834 | €2,878 | €2,976 | ▲ 3.4% |
| Operating cash flow (approximation) | €39,468 | €54,545 | €58,029 | €58,933 | €45,867 | €29,135 | €17,830 | €15,269 | ▼ 14.4% |
| Investment in fixed assets (approximation) | - | €0 | - | - | -€5,918 | -€1,044 | €0 | -€1,421 | - |
| Change in cash | - | €2,489 | €17,611 | -€2,199 | -€3,245 | -€8,293 | €1,652 | -€10,495 | - |
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, 34,693 companies had the same profile as MEGA 8 has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of MEGA 8 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 34,693 companies, not a prediction for MEGA 8. 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 | 06-07-2026 | 2026-00270662 | |
| 31-12-2024 | micro format | 16-06-2025 | 2025-00146691 | |
| 31-12-2023 | micro format | 12-04-2024 | 2024-00063016 | |
| 31-12-2022 | micro format | 01-06-2023 | 2023-00104434 | |
| 31-12-2021 | micro format | 30-05-2022 | 2022-20036439 | |
| 31-12-2020 | micro format | 30-07-2021 | 2021-43700174 | |
| 31-12-2019 | micro format | 17-07-2020 | 2020-31700450 | |
| 31-12-2018 | micro format | 02-05-2019 | 2019-11900318 | |
| 31-12-2017 | micro format | 04-05-2018 | 2018-12100549 | |
| 31-12-2016 | micro format | 13-06-2017 | 2017-17100102 |