MINDHACK-SOFTWARE
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 19-12-2025 PDF all 9 filings
Turnover
≈ €29,000
Estimated: probably between €15,000 and €56,000
Total assets
€67,738▲ 4.8%
2024 · €64,637
Net result
€1,064
2024 · -€19,915
Working capital
€58,823▲ 8.8%
2024 · €54,088
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€974
2025
20192025
Net result
€1,064
2025
lowest quarter of the sector
20192025
Equity
€59,683
▲ 1.8%
2025
middle half of the sector
20192025
Total assets
€67,738
▲ 4.8%
2025
lowest quarter of the sector
20192025
Debt
€8,055
▲ 33.8%
2025
20192025
Working capital
€58,823
▲ 8.8%
2025
middle half of the sector
20192025
Solvency
88.1%
▼ 2.6pp
2025
highest quarter of the sector
20192025
Current ratio
8.30
▼ 1.68
2025
highest quarter of the sector
20192025
Return on assets (ROA)
1.6%
▲ 32.4pp
2025
lowest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€48,877-€22,669▼ 53.6%€46,947▲ 107%€33,356▼ 28.9%-€44,360-€24,452▲ 44.9%€974
Net result€35,307-€14,621within the sector's middle half▼ 58.6%€32,475within the sector's middle half▲ 122%€23,942within the sector's middle half▼ 26.3%-€43,819below the sector's middle half-€19,915below the sector's middle half▲ 54.6%€1,064below the sector's middle half
Equity€81,814-€96,435within the sector's middle half▲ 17.9%€128,910within the sector's middle half▲ 33.7%€152,852within the sector's middle half▲ 18.6%€91,034within the sector's middle half▼ 40.4%€58,619within the sector's middle half▼ 35.6%€59,683within the sector's middle half▲ 1.8%
Total assets€132,803-€114,489within the sector's middle half▼ 13.8%€155,615within the sector's middle half▲ 35.9%€161,408within the sector's middle half▲ 3.7%€94,576within the sector's middle half▼ 41.4%€64,637below the sector's middle half▼ 31.7%€67,738below the sector's middle half▲ 4.8%
Debt€50,989-€18,054▼ 64.6%€26,705▲ 47.9%€8,556▼ 68.0%€3,543▼ 58.6%€6,018▲ 69.9%€8,055▲ 33.8%
Working capital€81,182-€96,165within the sector's middle half▲ 18.5%€128,910above the sector's middle half▲ 34.1%€151,815above the sector's middle half▲ 17.8%€87,832within the sector's middle half▼ 42.1%€54,088within the sector's middle half▼ 38.4%€58,823within the sector's middle half▲ 8.8%
Solvency61.6%-84.2%above the sector's middle half▲ 22.6pp82.8%above the sector's middle half▼ 1.4pp94.7%above the sector's middle half▲ 11.9pp96.3%above the sector's middle half▲ 1.6pp90.7%above the sector's middle half▼ 5.6pp88.1%above the sector's middle half▼ 2.6pp
Current ratio2.59-6.33above the sector's middle half▲ 3.735.83above the sector's middle half▼ 0.5018.74above the sector's middle half▲ 12.9225.79above the sector's middle half▲ 7.059.99above the sector's middle half▼ 15.818.30above the sector's middle half▼ 1.68
Return on assets (ROA)26.6%-12.8%within the sector's middle half▼ 13.8pp20.9%within the sector's middle half▲ 8.1pp14.8%within the sector's middle half▼ 6.0pp-46.3%below the sector's middle half▼ 61.2pp-30.8%below the sector's middle half▲ 15.5pp1.6%below the sector's middle half▲ 32.4pp
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). 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 €974, after a loss of €24,452 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.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €67,738
Fixed assets
€860 ▼ 81.0%
Current assets
€66,878 ▲ 11.3%
Equity and liabilities €67,738
Equity
€59,683 ▲ 1.8%
Debt
€8,055 ▲ 33.8%
Debt's share of the balance-sheet total rises from 9.3% to 11.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€4,645▲
2024 · -€20,919
Cash flow
€4,735▲
2024 · -€16,383
Debt to equity
0.13▲
2024 · 0.10
ROE
1.8%▲
2024 · -34.0%
Interest coverage
23.32▲
2024 · -119.69
Debt ≤ 1 year
€8,055▲
2024 · €6,018
Income taxes
€195▼
2024 · €196
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €1,098 | €2,804 | €4,862 | - |
| Depreciation and write-downs of the year | €60 | €640 | €3,532 | €3,671 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €725 | €363 | €270 | €60 | €640 | €3,532 | €3,671 | ▲ 3.9% |
| Other operating charges640/8 | - | - | - | €599 | €664 | €706 | €726 | ▲ 2.9% |
| Gross operating margin9900 | €50,026 | €23,742 | €47,813 | €34,015 | -€43,056 | -€20,213 | €5,372 | - |
| Operating profit (loss)9901 | €48,877 | €22,669 | €46,947 | €33,356 | -€44,360 | -€24,452 | €974 | - |
| Financial income75/76B | - | - | - | €1,088 | €1,170 | €4,908 | €485 | ▼ 90.1% |
| Recurring financial income75 | €33 | €84 | €445 | €1,088 | €1,170 | €4,908 | €485 | ▼ 90.1% |
| Financial charges65/66B | - | - | - | €492 | €381 | €175 | €199 | ▲ 14.0% |
| Recurring financial charges65 | €103 | €727 | €1,002 | €492 | €381 | €175 | €199 | ▲ 14.0% |
| Profit (loss) for the period before taxes9903 | €48,807 | €22,026 | €46,390 | €33,952 | -€43,570 | -€19,718 | €1,260 | - |
| Income taxes67/77 | €13,500 | €7,405 | €13,915 | €10,010 | €248 | €196 | €195 | ▼ 0.5% |
| Profit (loss) for the period9904 | €35,307 | €14,621 | €32,475 | €23,942 | -€43,819 | -€19,915 | €1,064 | - |
| Profit (loss) for the period to be appropriated9905 | €35,307 | €14,621 | €32,475 | €23,942 | -€43,819 | -€19,915 | €1,064 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €132,803 | €114,489 | €155,615 | €161,408 | €94,576 | €64,637 | €67,738 | ▲ 4.8% |
| Fixed assets21/28 | €632 | €270 | - | €1,037 | €3,202 | €4,531 | €860 | ▼ 81.0% |
| Tangible fixed assets22/27 | €632 | €270 | - | €1,037 | €3,202 | €4,531 | €860 | ▼ 81.0% |
| Plant, machinery and equipment23 | - | - | - | €1,037 | €3,202 | €1,901 | €661 | ▼ 65.2% |
| Furniture and vehicles24 | - | - | - | - | - | €2,630 | €199 | ▼ 92.4% |
| Current assets29/58 | €132,171 | €114,219 | €155,615 | €160,371 | €91,375 | €60,106 | €66,878 | ▲ 11.3% |
| Amounts receivable within one year40/41 | €35,280 | €12,558 | €11,669 | €26,371 | €11,365 | €1,213 | €52,610 | ▲ 43× |
| Trade receivables40 | - | - | - | €23,877 | €9,976 | €1,202 | €11,599 | ▲ 865% |
| Other amounts receivable41 | - | - | - | €2,494 | €1,389 | €11 | €41,011 | ▲ 3,884× |
| Current investments50/53 | - | €21,500 | €60,125 | €70,625 | €63,255 | - | - | - |
| Cash at bank and in hand54/58 | €96,891 | €80,133 | €82,408 | €62,739 | €16,574 | €57,463 | €14,268 | ▼ 75.2% |
| Deferred charges and accrued income490/1 | - | - | - | €636 | €180 | €1,431 | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €132,803 | €114,489 | €155,615 | €161,408 | €94,576 | €64,637 | €67,738 | ▲ 4.8% |
| Equity10/15 | €81,814 | €96,435 | €128,910 | €152,852 | €91,034 | €58,619 | €59,683 | ▲ 1.8% |
| Contributions10/11 | €12,400 | - | - | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €69,414 | €84,035 | €116,510 | €140,452 | €122,452 | €109,952 | €109,952 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | - | €138,592 | €120,592 | €109,952 | €109,952 | = |
| Profit (loss) carried forward14 | - | - | - | - | -€43,819 | -€63,734 | -€62,669 | ▲ 1.7% |
| Amounts payable17/49 | €50,989 | €18,054 | €26,705 | €8,556 | €3,543 | €6,018 | €8,055 | ▲ 33.8% |
| Amounts payable within one year42/48 | €50,989 | €18,054 | €26,705 | €8,556 | €3,543 | €6,018 | €8,055 | ▲ 33.8% |
| Trade debts44 | €1,096 | €3,279 | €1,577 | €2,385 | €2,473 | €728 | €916 | ▲ 25.8% |
| Suppliers440/4 | - | - | - | €2,385 | €2,473 | €728 | €916 | ▲ 25.8% |
| Taxes, remuneration and social security45 | - | - | - | €6,171 | €1,070 | €5,012 | €6,959 | ▲ 38.9% |
| Taxes450/3 | - | - | - | €3,771 | €1,070 | €5,012 | €4,759 | ▼ 5.0% |
| Remuneration and social security454/9 | - | - | - | €2,400 | - | - | €2,200 | - |
| Other amounts payable47/48 | - | - | - | - | - | €279 | €181 | ▼ 35.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €35,307 | €14,621 | €32,475 | €23,942 | -€43,819 | -€19,915 | €1,064 | - |
| + Depreciation and write-downs630 | €725 | €363 | €270 | €60 | €640 | €3,532 | €3,671 | ▲ 3.9% |
| Operating cash flow (approximation) | €36,032 | €14,984 | €32,745 | €24,002 | -€43,179 | -€16,383 | €4,735 | - |
| Investment in fixed assets (approximation) | - | -€1 | - | - | -€2,804 | -€4,862 | €0 | - |
| Change in cash | - | -€16,758 | €2,275 | -€19,670 | -€46,164 | €40,889 | -€43,194 | - |
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, 10,904 companies had the same profile as MINDHACK-SOFTWARE has now. Two years later, 95.1% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
95.1%
was still going
4.0%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of MINDHACK-SOFTWARE 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 10,904 companies, not a prediction for MINDHACK-SOFTWARE. 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 (9)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 19-12-2025 | 2025-00585624 | |
| 30-06-2024 | micro format | 19-12-2024 | 2024-00619884 | |
| 30-06-2023 | micro format | 20-12-2023 | 2023-00532236 | |
| 30-06-2022 | micro format | 20-12-2022 | 2022-20540987 | |
| 30-06-2021 | micro format | 20-01-2022 | 2022-01300488 | |
| 30-06-2020 | micro format | 22-01-2021 | 2021-01400401 | |
| 30-06-2019 | micro format | 18-12-2019 | 2019-76600140 | |
| 30-06-2018 | micro format | 28-01-2019 | 2019-03200563 | |
| 30-06-2017 | micro format | 22-12-2017 | 2017-73200290 |