META4.BE
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 08-07-2026 at the NBB all 8 filings
Turnover
≈ €370,000
Estimated: probably between €230,000 and €690,000
EBIT margin
Not included in this filing
Net result
€12,705
2024 · -€7,524
Working capital
-€10,073▲ 49.9%
2024 · -€20,088
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€28,967
2025
20182025
Net result
€12,705
2025
middle half of the sector
20182025
Equity
€7,298
2025
lowest quarter of the sector
20182025
Total assets
€123,736
▼ 19.4%
2025
lowest quarter of the sector
20182025
Debt
€116,438
▼ 26.7%
2025
20182025
Working capital
-€10,073
▲ 49.9%
2025
middle half of the sector
20182025
Solvency
5.9%
▲ 9.4pp
2025
lowest quarter of the sector
20182025
Current ratio
0.91
▲ 0.05
2025
middle half of the sector
20182025
Return on assets (ROA)
10.3%
▲ 15.2pp
2025
highest quarter of the sector
20182025
Staff (FTE)
2.6
=
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€29,221-€5,241▼ 82.1%€40,566▲ 674%€22,417▼ 44.7%€38,370▲ 71.2%€15,864▼ 58.7%-€736€28,967
Net result€21,563--€1,693€29,406within the sector's middle half€7,630within the sector's middle half▼ 74.1%€26,760within the sector's middle half▲ 251%€1,450within the sector's middle half▼ 94.6%-€7,524below the sector's middle half€12,705within the sector's middle half
Equity€27,863-€26,170▼ 6.1%€55,577below the sector's middle half▲ 112%€1,907below the sector's middle half▼ 96.6%€667below the sector's middle half▼ 65.0%€2,117below the sector's middle half▲ 217%-€5,407below the sector's middle half€7,298below the sector's middle half
Total assets€144,451-€141,638▼ 1.9%€130,743below the sector's middle half▼ 7.7%€99,003below the sector's middle half▼ 24.3%€111,683below the sector's middle half▲ 12.8%€126,510below the sector's middle half▲ 13.3%€153,456below the sector's middle half▲ 21.3%€123,736below the sector's middle half▼ 19.4%
Debt€116,588-€115,468▼ 1.0%€75,166▼ 34.9%€97,096▲ 29.2%€111,016▲ 14.3%€124,393▲ 12.0%€158,863▲ 27.7%€116,438▼ 26.7%
Working capital€16,910-€18,055▲ 6.8%€46,609within the sector's middle half▲ 158%-€5,887below the sector's middle half-€7,329below the sector's middle half▼ 24.5%-€4,812below the sector's middle half▲ 34.3%-€20,088below the sector's middle half▼ 317%-€10,073within the sector's middle half▲ 49.9%
Solvency19.3%-18.5%▼ 0.8pp42.5%within the sector's middle half▲ 24.0pp1.9%below the sector's middle half▼ 40.6pp0.6%below the sector's middle half▼ 1.3pp1.7%below the sector's middle half▲ 1.1pp-3.5%below the sector's middle half▼ 5.2pp5.9%below the sector's middle half▲ 9.4pp
Current ratio1.17-1.17▲ 0.011.65within the sector's middle half▲ 0.480.94below the sector's middle half▼ 0.710.93below the sector's middle half=0.96below the sector's middle half▲ 0.030.86below the sector's middle half▼ 0.100.91within the sector's middle half▲ 0.05
Return on assets (ROA)14.9%--1.2%▼ 16.1pp22.5%above the sector's middle half▲ 23.7pp7.7%above the sector's middle half▼ 14.8pp24.0%above the sector's middle half▲ 16.3pp1.1%within the sector's middle half▼ 22.8pp-4.9%below the sector's middle half▼ 6.0pp10.3%above the sector's middle half▲ 15.2pp
Staff (FTE)1.2-1.5▲ 25.0%1.4below the sector's middle half▼ 6.7%1.8below the sector's middle half▲ 28.6%2.5below the sector's middle half▲ 38.9%2.9below the sector's middle half▲ 16.0%2.6below the sector's middle half▼ 10.3%2.6within the sector's middle half=
above
within
below
The sector band is the middle half of the companies in Printing and reproduction of recorded media (NACE 18). 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 profit of €28,967, after a loss of €736 in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €123,736
Fixed assets
€19,996 ▼ 19.6%
Current assets
€103,740 ▼ 19.3%
Equity and liabilities €123,736
Equity
€7,298
Debt
€116,438
Debt's share of the balance-sheet total is 94.1%.
Key figures and ratios
EBITDA
€35,946▲
2024 · €5,528
Cash flow
€19,684▲
2024 · -€1,260
Debt to equity
15.95
ROE
174.1%
Interest coverage
2.86▲
2024 · 0.79
Debt ≤ 1 year
€113,813▼
2024 · €148,677
Debt > 1 year
€2,625▼
2024 · €10,186
Income taxes
€6,992▲
2024 · €2,282
Staff costs
€105,872▼
2024 · €113,176
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 2 | 3 | 3 | 3 | 3 |
| full-time | 2 | 2 | 2 | 2 | 2 |
| part-time | - | 1 | 1 | 1 | 1 |
| in full-time equivalents | 2 | 2.6 | 2.6 | 2.6 | 2.6 |
| Average over the year, in full-time equivalents | 1.8 | 2.5 | 2.9 | 2.6 | 2.6 |
| On a permanent contract | 1 | 1 | 2 | 2 | 3 |
| Joined | 2 | 1 | 3 | 0 | 1 |
| Left | 2 | 6 | 5 | 2 | 2 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €2,534 | €4,632 | €4,349 | €22,251 | €2,108 |
| Depreciation and write-downs of the year | €5,693 | €5,730 | €3,466 | €6,264 | €6,979 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €54,690 | €81,824 | €105,147 | €113,176 | €105,872 | ▼ 6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,294 | €11,115 | €8,608 | €5,693 | €5,730 | €3,466 | €6,264 | €6,979 | ▲ 11.4% |
| Other operating charges640/8 | - | - | - | €1,573 | €2,479 | €2,255 | €2,251 | €3,550 | ▲ 57.7% |
| Gross operating margin9900 | €89,391 | €44,028 | €81,403 | €84,372 | €128,403 | €126,732 | €120,954 | €145,369 | ▲ 20.2% |
| Operating profit (loss)9901 | €29,221 | €5,241 | €40,566 | €22,417 | €38,370 | €15,864 | -€736 | €28,967 | - |
| Financial income75/76B | - | - | - | €738 | €1,685 | €1,088 | €2,520 | €3,287 | ▲ 30.4% |
| Recurring financial income75 | €6,784 | €3,319 | €4,629 | €738 | €1,685 | €1,088 | €2,520 | €3,287 | ▲ 30.4% |
| Financial charges65/66B | - | - | - | €9,419 | €2,797 | €10,362 | €7,026 | €12,557 | ▲ 78.7% |
| Recurring financial charges65 | €4,942 | €9,369 | €6,188 | €9,419 | €2,797 | €10,362 | €7,026 | €12,557 | ▲ 78.7% |
| Profit (loss) for the period before taxes9903 | €31,063 | -€808 | €39,007 | €13,735 | €37,258 | €6,591 | -€5,242 | €19,697 | - |
| Income taxes67/77 | €9,500 | €884 | €9,601 | €6,106 | €10,497 | €5,141 | €2,282 | €6,992 | ▲ 206% |
| Profit (loss) for the period9904 | €21,563 | -€1,693 | €29,406 | €7,630 | €26,760 | €1,450 | -€7,524 | €12,705 | - |
| Profit (loss) for the period to be appropriated9905 | €21,563 | -€1,693 | €29,406 | €7,630 | €26,760 | €1,450 | -€7,524 | €12,705 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €144,451 | €141,638 | €130,743 | €99,003 | €111,683 | €126,510 | €153,456 | €123,736 | ▼ 19.4% |
| Fixed assets21/28 | €25,121 | €18,131 | €12,252 | €9,093 | €7,996 | €8,879 | €24,866 | €19,996 | ▼ 19.6% |
| Intangible fixed assets21 | €588 | €1,216 | €600 | €100 | - | - | - | - | - |
| Tangible fixed assets22/27 | €22,434 | €14,815 | €9,552 | €6,893 | €5,896 | €6,779 | €22,766 | €17,896 | ▼ 21.4% |
| Plant, machinery and equipment23 | - | - | - | €3,430 | €1,144 | €903 | €1,895 | €2,496 | ▲ 31.8% |
| Furniture and vehicles24 | - | - | - | €3,463 | €4,752 | €5,876 | €20,872 | €15,399 | ▼ 26.2% |
| Financial fixed assets28 | €2,100 | €2,100 | €2,100 | €2,100 | €2,100 | €2,100 | €2,100 | €2,100 | = |
| Current assets29/58 | €119,330 | €123,507 | €118,491 | €89,909 | €103,688 | €117,631 | €128,590 | €103,740 | ▼ 19.3% |
| Amounts receivable after more than one year29 | - | - | - | €18,500 | €8,500 | - | - | - | - |
| Other amounts receivable291 | - | - | - | €18,500 | €8,500 | - | - | - | - |
| Amounts receivable within one year40/41 | €50,130 | €65,134 | €67,912 | €58,197 | €78,760 | €107,318 | €117,417 | €87,196 | ▼ 25.7% |
| Trade receivables40 | - | - | - | €48,197 | €33,831 | €59,173 | €61,422 | €24,751 | ▼ 59.7% |
| Other amounts receivable41 | - | - | - | €10,000 | €44,929 | €48,145 | €55,995 | €62,445 | ▲ 11.5% |
| Cash at bank and in hand54/58 | €1,995 | €6,481 | €9,073 | €12,786 | €14,470 | €9,049 | €9,888 | €15,327 | ▲ 55.0% |
| Deferred charges and accrued income490/1 | - | - | - | €426 | €1,958 | €1,264 | €1,285 | €1,217 | ▼ 5.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €144,451 | €141,638 | €130,743 | €99,003 | €111,683 | €126,510 | €153,456 | €123,736 | ▼ 19.4% |
| Equity10/15 | €27,863 | €26,170 | €55,577 | €1,907 | €667 | €2,117 | -€5,407 | €7,298 | - |
| Contributions10/11 | €6,300 | €6,300 | - | - | - | - | - | - | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | - | - | - | - | - | - |
| Profit (loss) carried forward14 | €19,703 | €18,010 | €47,417 | €1,907 | €667 | €2,117 | -€5,407 | €7,298 | - |
| Amounts payable17/49 | €116,588 | €115,468 | €75,166 | €97,096 | €111,016 | €124,393 | €158,863 | €116,438 | ▼ 26.7% |
| Amounts payable after more than one year17 | €13,520 | €5,189 | - | - | - | - | €10,186 | €2,625 | ▼ 74.2% |
| Financial debts170/4 | - | - | - | - | - | - | €10,186 | €2,625 | ▼ 74.2% |
| Amounts payable within one year42/48 | €102,420 | €105,451 | €71,882 | €95,796 | €111,016 | €122,443 | €148,677 | €113,813 | ▼ 23.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | €7,111 | €7,561 | ▲ 6.3% |
| Financial debts43 | - | - | - | - | €1,172 | €1,194 | €1,184 | €1,122 | ▼ 5.3% |
| Credit institutions430/8 | - | - | - | - | €1,172 | €1,194 | €1,184 | €1,122 | ▼ 5.3% |
| Trade debts44 | €48,055 | €45,381 | €36,030 | €43,979 | €24,282 | €41,417 | €56,891 | €23,370 | ▼ 58.9% |
| Suppliers440/4 | - | - | - | €43,979 | €24,282 | €41,417 | €56,891 | €23,370 | ▼ 58.9% |
| Advances received on contracts in progress46 | - | - | - | - | - | - | €16,000 | €9,000 | ▼ 43.8% |
| Taxes, remuneration and social security45 | - | - | - | €51,348 | €57,562 | €79,832 | €67,491 | €72,760 | ▲ 7.8% |
| Taxes450/3 | - | - | - | €39,815 | €41,993 | €59,488 | €44,565 | €54,042 | ▲ 21.3% |
| Remuneration and social security454/9 | - | - | - | €11,533 | €15,569 | €20,343 | €22,926 | €18,718 | ▼ 18.4% |
| Other amounts payable47/48 | - | - | - | €469 | €28,000 | - | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €1,300 | - | €1,950 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €21,563 | -€1,693 | €29,406 | €7,630 | €26,760 | €1,450 | -€7,524 | €12,705 | - |
| + Depreciation and write-downs630 | €14,294 | €11,115 | €8,608 | €5,693 | €5,730 | €3,466 | €6,264 | €6,979 | ▲ 11.4% |
| Operating cash flow (approximation) | €35,857 | €9,422 | €38,015 | €13,323 | €32,490 | €4,916 | -€1,260 | €19,684 | - |
| Investment in fixed assets (approximation) | - | -€4,125 | -€2,729 | -€2,534 | -€4,632 | -€4,349 | -€22,251 | -€2,108 | ▲ 90.5% |
| Change in cash | - | €4,486 | €2,592 | €3,712 | €1,684 | -€5,421 | €839 | €5,439 | ▲ 549% |
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, 2,153 companies had the same profile as META4.BE has now. Two years later, 96.1% were still going and 1.7% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
96.1%
was still going
2.2%
stopped otherwise
1.7%
went bankrupt
That fits the bankruptcy probability of META4.BE itself: 1.2% 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 2,153 companies, not a prediction for META4.BE. 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 | abbreviated format | 08-07-2026 | 2026-00268269 | |
| 31-12-2024 | full format | 09-07-2025 | 2025-00247729 | |
| 31-12-2023 | full format | 11-07-2024 | 2024-00233900 | |
| 31-12-2022 | full format | 30-06-2023 | 2023-00178289 | |
| 31-12-2021 | full format | 11-07-2022 | 2022-20168297 | |
| 31-12-2020 | full format | 30-06-2021 | 2021-27800165 | |
| 31-12-2019 | full format | 06-07-2020 | 2020-26400539 | |
| 31-12-2018 | full format | 18-07-2019 | 2019-34700064 |