MONIMO
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 29-06-2026 at the NBB all 21 filings
Turnover
≈ €310,000
Estimated: probably between €230,000 and €390,000
Total assets
€667,198▼ 22.2%
2024 · €857,534
Net result
€71,829▲ 14×
2024 · €5,230
Working capital
-€260,947▲ 46.5%
2024 · -€487,957
Multi-year overview
2018 to 2025, 7 financial yearsOperating result
€107,764
▲ 777%
2025
20182025
Net result
€71,829
▲ 14×
2025
middle half of the sector
20182025
Equity
€350,018
▲ 25.8%
2025
middle half of the sector
20182025
Total assets
€667,198
▼ 22.2%
2025
highest quarter of the sector
20182025
Debt
€317,180
▼ 45.3%
2025
20182025
Working capital
-€260,947
▲ 46.5%
2025
lowest quarter of the sector
20182025
Solvency
52.5%
▲ 20.0pp
2025
middle half of the sector
20182025
Current ratio
0.01
▼ 0.01
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
10.8%
▲ 10.2pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220242025
Operating result€30,621-€13,350▼ 56.4%€16,655▲ 24.8%€32,101▲ 92.7%€1,425▼ 95.6%€12,286-€107,764▲ 777%
Net result€11,335--€75€4,917below the sector's middle half€13,013below the sector's middle half▲ 165%-€4,109below the sector's middle half€5,230below the sector's middle half-€71,829within the sector's middle half▲ 14×
Equity€282,314-€282,239=€287,156within the sector's middle half▲ 1.7%€300,169within the sector's middle half▲ 4.5%€296,060within the sector's middle half▼ 1.4%€278,190within the sector's middle half-€350,018within the sector's middle half▲ 25.8%
Total assets€683,626-€639,590▼ 6.4%€603,929within the sector's middle half▼ 5.6%€868,928above the sector's middle half▲ 43.9%€840,159above the sector's middle half▼ 3.3%€857,534above the sector's middle half-€667,198above the sector's middle half▼ 22.2%
Debt€401,312-€357,351▼ 11.0%€316,773▼ 11.4%€568,759▲ 79.5%€544,099▼ 4.3%€579,344-€317,180▼ 45.3%
Working capital€13,866-€2,389▼ 82.8%€5,294below the sector's middle half▲ 122%-€306,041below the sector's middle half-€357,739below the sector's middle half▼ 16.9%-€487,957below the sector's middle half--€260,947below the sector's middle half▲ 46.5%
Solvency41.3%-44.1%▲ 2.8pp47.5%within the sector's middle half▲ 3.4pp34.5%below the sector's middle half▼ 13.0pp35.2%below the sector's middle half▲ 0.7pp32.4%below the sector's middle half-52.5%within the sector's middle half▲ 20.0pp
Current ratio1.29-1.05▼ 0.241.10below the sector's middle half▲ 0.050.13below the sector's middle half▼ 0.970.06below the sector's middle half▼ 0.070.02below the sector's middle half-0.01below the sector's middle half▼ 0.01
Return on assets (ROA)1.7%-0.0%▼ 1.7pp0.8%below the sector's middle half▲ 0.8pp1.5%below the sector's middle half▲ 0.7pp-0.5%below the sector's middle half▼ 2.0pp0.6%below the sector's middle half-10.8%within the sector's middle half▲ 10.2pp
above
within
below
The sector band is the middle half of the companies in Human health activities (NACE 86). 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 8.8 times that of 2024 and the highest since 2020.
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 €667,198
Fixed assets
€663,973 ▼ 21.5%
Current assets
€3,225 ▼ 72.3%
Equity and liabilities €667,198
Equity
€350,018 ▲ 25.8%
Debt
€317,180 ▼ 45.3%
Debt's share of the balance-sheet total falls from 67.6% to 47.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€153,206▲
2024 · €74,778
Cash flow
€117,271▲
2024 · €67,722
Debt to equity
0.91▼
2024 · 2.08
ROE
20.5%▲
2024 · 1.9%
Interest coverage
18.99▲
2024 · 10.59
Debt ≤ 1 year
€264,172▼
2024 · €499,591
Debt > 1 year
€53,007▼
2024 · €79,752
Income taxes
€27,870▲
2024 · €2
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €322,003 | €50,235 | €40,668 | €3,231 |
| Depreciation and write-downs of the year | €45,810 | €55,638 | €62,492 | €45,443 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2024 · 3 entries · €224 awarded · €224 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €135 | €135 |
| 2023 | 1 | €45 | €45 |
| 2022 | 1 | €44 | €44 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €116,889 | - |
| Remuneration, social security and pensions62 | - | - | - | - | €779 | €450 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €42,970 | €41,893 | €40,723 | €45,810 | €55,638 | €62,492 | €45,443 | ▼ 27.3% |
| Other operating charges640/8 | - | - | - | €2,326 | - | €306 | €2,653 | ▲ 769% |
| Gross operating margin9900 | €75,680 | €57,575 | €60,116 | €80,237 | €57,842 | €75,534 | €155,860 | ▲ 106% |
| Operating profit (loss)9901 | €30,621 | €13,350 | €16,655 | €32,101 | €1,425 | €12,286 | €107,764 | ▲ 777% |
| Financial income75/76B | - | - | - | €19 | €3,651 | €6 | €5 | ▼ 19.8% |
| Recurring financial income75 | €1,925 | €1,798 | €2,146 | €19 | €3,651 | €6 | €5 | ▼ 19.8% |
| Non-recurring financial income76B | - | - | - | - | €3,651 | - | - | - |
| Financial charges65/66B | - | - | - | €11,593 | €9,185 | €7,061 | €8,070 | ▲ 14.3% |
| Recurring financial charges65 | €14,490 | €14,328 | €12,197 | €11,593 | €9,185 | €7,061 | €8,070 | ▲ 14.3% |
| Profit (loss) for the period before taxes9903 | €18,056 | €820 | €6,604 | €20,526 | -€4,109 | €5,232 | €99,699 | ▲ 19× |
| Income taxes67/77 | €6,721 | €895 | €1,688 | €7,513 | - | €2 | €27,870 | ▲ 15,313× |
| Profit (loss) for the period9904 | €11,335 | -€75 | €4,917 | €13,013 | -€4,109 | €5,230 | €71,829 | ▲ 14× |
| Profit (loss) for the period to be appropriated9905 | €11,335 | -€75 | €4,917 | €13,013 | -€4,109 | €5,230 | €71,829 | ▲ 14× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €683,626 | €639,590 | €603,929 | €868,928 | €840,159 | €857,534 | €667,198 | ▼ 22.2% |
| Fixed assets21/28 | €622,075 | €587,751 | €547,028 | €823,221 | €817,818 | €845,900 | €663,973 | ▼ 21.5% |
| Tangible fixed assets22/27 | €622,075 | €587,751 | €547,028 | €823,221 | €817,818 | €845,900 | €663,973 | ▼ 21.5% |
| Land and buildings22 | - | - | - | €321,889 | €347,521 | €435,720 | €402,306 | ▼ 7.7% |
| Plant, machinery and equipment23 | - | - | - | €3,098 | €2,323 | €774 | - | - |
| Furniture and vehicles24 | - | - | - | €1,695 | €479 | - | - | - |
| Other tangible fixed assets26 | - | - | - | €496,539 | €467,495 | €409,406 | €261,667 | ▼ 36.1% |
| Current assets29/58 | €61,551 | €51,839 | €56,901 | €45,708 | €22,342 | €11,634 | €3,225 | ▼ 72.3% |
| Amounts receivable within one year40/41 | €30,090 | €37,270 | €33,725 | €3,055 | €5,074 | €3,305 | €1,123 | ▼ 66.0% |
| Trade receivables40 | - | - | - | €3,055 | €3,187 | €2,851 | €414 | ▼ 85.5% |
| Other amounts receivable41 | - | - | - | - | €1,887 | €454 | €709 | ▲ 56.3% |
| Cash at bank and in hand54/58 | €31,461 | €14,416 | €23,176 | €42,653 | €17,268 | €8,329 | €2,102 | ▼ 74.8% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €683,626 | €639,590 | €603,929 | €868,928 | €840,159 | €857,534 | €667,198 | ▼ 22.2% |
| Equity10/15 | €282,314 | €282,239 | €287,156 | €300,169 | €296,060 | €278,190 | €350,018 | ▲ 25.8% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €276,114 | €276,114 | €280,956 | €293,969 | €293,969 | €293,969 | €343,818 | ▲ 17.0% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €292,109 | €292,109 | €292,109 | €341,958 | ▲ 17.1% |
| Profit (loss) carried forward14 | - | -€75 | - | - | -€4,109 | -€21,979 | - | - |
| Amounts payable17/49 | €401,312 | €357,351 | €316,773 | €568,759 | €544,099 | €579,344 | €317,180 | ▼ 45.3% |
| Amounts payable after more than one year17 | €353,627 | €307,902 | €264,558 | €216,496 | €164,019 | €79,752 | €53,007 | ▼ 33.5% |
| Financial debts170/4 | - | - | - | €216,496 | €164,019 | €79,752 | €53,007 | ▼ 33.5% |
| Amounts payable within one year42/48 | €47,685 | €49,449 | €51,607 | €351,749 | €380,080 | €499,591 | €264,172 | ▼ 47.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €48,062 | €51,732 | €37,899 | €26,745 | ▼ 29.4% |
| Trade debts44 | €20 | - | €2,224 | €2,295 | €21,647 | - | - | - |
| Suppliers440/4 | - | - | - | €2,295 | €21,647 | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €6,155 | €4,645 | - | €4,369 | - |
| Taxes450/3 | - | - | - | €6,155 | €4,645 | - | €2,869 | - |
| Remuneration and social security454/9 | - | - | - | - | - | - | €1,500 | - |
| Other amounts payable47/48 | - | - | - | €295,238 | €302,057 | €461,693 | €233,059 | ▼ 49.5% |
| Accrued charges and deferred income492/3 | - | - | - | €514 | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,335 | -€75 | €4,917 | €13,013 | -€4,109 | €5,230 | €71,829 | ▲ 14× |
| + Depreciation and write-downs630 | €42,970 | €41,893 | €40,723 | €45,810 | €55,638 | €62,492 | €45,443 | ▼ 27.3% |
| Operating cash flow (approximation) | €54,305 | €41,818 | €45,640 | €58,823 | €51,529 | €67,722 | €117,271 | ▲ 73.2% |
| Investment in fixed assets (approximation) | - | -€7,569 | €0 | -€322,003 | -€50,235 | - | €136,484 | - |
| Change in cash | - | -€17,044 | €8,760 | €19,477 | -€25,385 | - | -€6,227 | - |
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, 20,136 companies had the same profile as MONIMO has now. Two years later, 95.0% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.0%
was still going
4.7%
stopped otherwise
0.2%
went bankrupt
That fits the bankruptcy probability of MONIMO 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 20,136 companies, not a prediction for MONIMO. 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 21 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 29-06-2026 | 2026-00215367 | |
| 31-12-2024 | micro format | 29-06-2025 | 2025-00204182 | |
| 31-12-2022 | micro format | 24-08-2023 | 2023-00348884 | |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20410997 | |
| 31-12-2020 | micro format | 16-08-2021 | 2021-48900039 | |
| 31-12-2019 | micro format | 22-09-2020 | 2020-54700024 | |
| 31-12-2018 | micro format | 31-07-2019 | 2019-41400393 | |
| 31-12-2017 | micro format | 29-06-2018 | 2018-25900497 | |
| 31-12-2016 | abbreviated format | 11-07-2017 | 2017-30000591 | |
| 31-12-2015 | abbreviated format | 30-06-2016 | 2016-25600469 |