NETFLY
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 26 days after the deadline Filed on 26 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00425939.
Annual accounts 2025 filed on 26-08-2026 at the NBB all 24 filings
Turnover
€126,716▲ 7.4%
2022 · €117,942
EBIT margin
49.1%▼ 0.2pp
2022 · 49.3%
Net result
€50,810▼ 0.6%
2024 · €51,139
Working capital
€280,140▲ 7.2%
2024 · €261,330
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
€51,740
▼ 6.0%
2025
20182025
Net result
€50,810
▼ 0.6%
2025
middle half of the sector
20182025
EBIT margin
no figure
2025
20182025
Equity
€280,140
▲ 7.2%
2025
highest quarter of the sector
20182025
Total assets
€346,414
▲ 3.6%
2025
highest quarter of the sector
20182025
Debt
€66,275
▼ 9.1%
2025
20182025
Working capital
€280,140
▲ 7.2%
2025
highest quarter of the sector
20182025
Solvency
80.9%
▲ 2.7pp
2025
highest quarter of the sector
20182025
Current ratio
5.23
▲ 0.64
2025
highest quarter of the sector
20182025
Return on assets (ROA)
14.7%
▼ 0.6pp
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
Turnover€117,942€126,716▲ 7.4%
Operating result-€3,829-€15,608€11,441▼ 26.7%€58,566▲ 412%€58,196▼ 0.6%€62,255▲ 7.0%€55,059▼ 11.6%€51,740▼ 6.0%
Net result-€2,302-€11,146€10,518within the sector's middle half▼ 5.6%€40,278within the sector's middle half▲ 283%€54,598above the sector's middle half▲ 35.6%€59,211above the sector's middle half▲ 8.4%€51,139within the sector's middle half▼ 13.6%€50,810within the sector's middle half▼ 0.6%
EBIT margin49.3%49.1%▼ 0.2pp
Equity€144,025-€155,171▲ 7.7%€165,689above the sector's middle half▲ 6.8%€185,967above the sector's middle half▲ 12.2%€220,565above the sector's middle half▲ 18.6%€244,475above the sector's middle half▲ 10.8%€261,330above the sector's middle half▲ 6.9%€280,140above the sector's middle half▲ 7.2%
Total assets€186,838-€173,490▼ 7.1%€216,070within the sector's middle half▲ 24.5%€257,220within the sector's middle half▲ 19.0%€280,196within the sector's middle half▲ 8.9%€321,309above the sector's middle half▲ 14.7%€334,251above the sector's middle half▲ 4.0%€346,414above the sector's middle half▲ 3.6%
Debt€42,813-€18,319▼ 57.2%€50,381▲ 175%€71,253▲ 41.4%€59,631▼ 16.3%€76,834▲ 28.8%€72,921▼ 5.1%€66,275▼ 9.1%
Working capital€144,025-€153,299▲ 6.4%€163,788above the sector's middle half▲ 6.8%€185,457above the sector's middle half▲ 13.2%€220,509above the sector's middle half▲ 18.9%€244,475above the sector's middle half▲ 10.9%€261,330above the sector's middle half▲ 6.9%€280,140above the sector's middle half▲ 7.2%
Solvency77.1%-89.4%▲ 12.4pp76.7%within the sector's middle half▼ 12.8pp72.3%within the sector's middle half▼ 4.4pp78.7%within the sector's middle half▲ 6.4pp76.1%within the sector's middle half▼ 2.6pp78.2%within the sector's middle half▲ 2.1pp80.9%above the sector's middle half▲ 2.7pp
Current ratio4.36-9.37▲ 5.004.25within the sector's middle half▼ 5.123.60within the sector's middle half▼ 0.654.70within the sector's middle half▲ 1.104.18within the sector's middle half▼ 0.524.58within the sector's middle half▲ 0.405.23above the sector's middle half▲ 0.64
Return on assets (ROA)-1.2%-6.4%▲ 7.7pp4.9%within the sector's middle half▼ 1.6pp15.7%within the sector's middle half▲ 10.8pp19.5%within the sector's middle half▲ 3.8pp18.4%within the sector's middle half▼ 1.1pp15.3%within the sector's middle half▼ 3.1pp14.7%within the sector's middle half▼ 0.6pp
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 6% lower than in 2024 and the lowest since 2020. It is the second fall in a row.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €346,414
Equity
€280,140 ▲ 7.2%
Debt
€66,275 ▼ 9.1%
Debt's share of the balance-sheet total falls from 21.8% to 19.1%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
0.24▼
2024 · 0.28
ROE
18.1%▼
2024 · 19.6%
Debt ≤ 1 year
€66,275▼
2024 · €72,921
Income taxes
€6,644▼
2024 · €7,390
Staff costs
€0
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | €117,942 | €126,716 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | €64,629 | €65,375 | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | - | - | - | - | €0 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10 | €936 | €1,334 | €1,390 | €454 | €56 | - | - | - |
| Other operating charges640/8 | - | - | - | €663 | €600 | €4,513 | €5,977 | €747 | ▼ 87.5% |
| Gross operating margin9900 | -€1,347 | €16,544 | €24,902 | €60,619 | €59,251 | €66,824 | €61,036 | €52,486 | ▼ 14.0% |
| Operating profit (loss)9901 | -€3,829 | €15,608 | €11,441 | €58,566 | €58,196 | €62,255 | €55,059 | €51,740 | ▼ 6.0% |
| Financial income75/76B | - | - | - | €4,501 | €4,500 | €4,575 | €4,508 | €6,814 | ▲ 51.1% |
| Recurring financial income75 | €4,073 | €3,780 | €8,434 | €4,501 | €4,500 | €4,575 | €4,508 | €6,814 | ▲ 51.1% |
| Financial charges65/66B | - | - | - | €919 | €1,327 | €1,384 | €1,039 | €1,100 | ▲ 5.9% |
| Recurring financial charges65 | €2,035 | €1,603 | €2,442 | €919 | €1,327 | €1,384 | €1,039 | €1,100 | ▲ 5.9% |
| Profit (loss) for the period before taxes9903 | -€1,790 | €17,785 | €17,433 | €62,148 | €61,369 | €65,445 | €58,529 | €57,454 | ▼ 1.8% |
| Income taxes67/77 | €511 | €6,639 | €6,915 | €21,870 | €6,771 | €6,235 | €7,390 | €6,644 | ▼ 10.1% |
| Profit (loss) for the period9904 | -€2,302 | €11,146 | €10,518 | €40,278 | €54,598 | €59,211 | €51,139 | €50,810 | ▼ 0.6% |
| Profit (loss) for the period to be appropriated9905 | -€2,302 | €11,146 | €10,518 | €40,278 | €54,598 | €59,211 | €51,139 | €50,810 | ▼ 0.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €186,838 | €173,490 | €216,070 | €257,220 | €280,196 | €321,309 | €334,251 | €346,414 | ▲ 3.6% |
| Formation expenses20 | - | - | - | - | €0 | €0 | - | €0 | - |
| Fixed assets21/28 | - | €1,872 | €1,901 | €510 | €56 | €0 | - | €0 | - |
| Tangible fixed assets22/27 | - | €1,872 | €1,901 | €510 | €56 | €0 | - | €0 | - |
| Furniture and vehicles24 | - | - | - | €510 | €56 | €0 | - | €0 | - |
| Current assets29/58 | €186,838 | €171,618 | €214,169 | €256,709 | €280,140 | €321,309 | €334,251 | €346,414 | ▲ 3.6% |
| Amounts receivable after more than one year29 | - | - | - | €200,000 | €200,000 | €200,000 | €200,000 | €200,000 | = |
| Other amounts receivable291 | - | - | - | €200,000 | €200,000 | €200,000 | €200,000 | €200,000 | = |
| Amounts receivable within one year40/41 | €5,838 | €1,535 | €8,596 | €55,696 | €77,659 | €117,069 | €131,398 | €143,969 | ▲ 9.6% |
| Trade receivables40 | - | - | - | €11,889 | €233 | €21,898 | €14,582 | €13,384 | ▼ 8.2% |
| Other amounts receivable41 | - | - | - | €43,807 | €77,426 | €95,171 | €116,816 | €130,585 | ▲ 11.8% |
| Cash at bank and in hand54/58 | - | €2,083 | €5,574 | €1,014 | €2,481 | €4,240 | €2,853 | €2,445 | ▼ 14.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €186,838 | €173,490 | €216,070 | €257,220 | €280,196 | €321,309 | €334,251 | €346,414 | ▲ 3.6% |
| Equity10/15 | €144,025 | €155,171 | €165,689 | €185,967 | €220,565 | €244,475 | €261,330 | €280,140 | ▲ 7.2% |
| Contributions10/11 | €48,600 | €48,600 | - | €48,600 | €48,600 | €53,460 | €53,460 | €53,460 | = |
| Reserves13 | €4,860 | €4,860 | €4,860 | €4,860 | €4,860 | €0 | - | - | - |
| Non-distributable reserves130/1 | - | - | - | €4,860 | €4,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €4,860 | €4,860 | €0 | - | - | - |
| Profit (loss) carried forward14 | €90,565 | €101,711 | €112,229 | €132,507 | €167,105 | €191,015 | €207,870 | €226,680 | ▲ 9.0% |
| Amounts payable17/49 | €42,813 | €18,319 | €50,381 | €71,253 | €59,631 | €76,834 | €72,921 | €66,275 | ▼ 9.1% |
| Amounts payable within one year42/48 | €42,813 | €18,319 | €50,381 | €71,253 | €59,631 | €76,834 | €72,921 | €66,275 | ▼ 9.1% |
| Financial debts43 | - | - | - | €5,133 | €4,785 | €5,000 | €3,111 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | €5,133 | €4,785 | €5,000 | €3,111 | €0 | ▼ 100% |
| Trade debts44 | €14,944 | €6,714 | €26,067 | €5,848 | €787 | €12,632 | €21,217 | €16,812 | ▼ 20.8% |
| Suppliers440/4 | - | - | - | €5,848 | €787 | €12,632 | €21,217 | €16,812 | ▼ 20.8% |
| Taxes, remuneration and social security45 | - | - | - | €40,272 | €34,059 | €23,901 | €14,309 | €17,462 | ▲ 22.0% |
| Taxes450/3 | - | - | - | €40,272 | €34,059 | €23,901 | €14,309 | €17,462 | ▲ 22.0% |
| Remuneration and social security454/9 | - | - | - | - | €0 | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €20,000 | €20,000 | €35,300 | €34,284 | €32,000 | ▼ 6.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,302 | €11,146 | €10,518 | €40,278 | €54,598 | €59,211 | €51,139 | €50,810 | ▼ 0.6% |
| + Depreciation and write-downs630 | €10 | €936 | €1,334 | €1,390 | €454 | €56 | - | - | - |
| Operating cash flow (approximation) | -€2,291 | €12,082 | €11,852 | €41,668 | €55,052 | €59,267 | €51,139 | €50,810 | ▼ 0.6% |
| Investment in fixed assets (approximation) | - | - | -€1,363 | €0 | €0 | €0 | - | - | - |
| Change in cash | - | - | €3,490 | -€4,560 | €1,467 | €1,759 | -€1,387 | -€408 | ▲ 70.6% |
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, 31,368 companies had the same profile as NETFLY has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of NETFLY itself: 0.3% 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 31,368 companies, not a prediction for NETFLY. 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 24 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 26-08-2026 | 2026-00425939 | |
| 31-12-2024 | micro format | 30-09-2025 | 2025-00516797 | |
| 31-12-2023 | micro format | 30-09-2024 | 2024-00483624 | |
| 31-12-2022 | micro format | 01-12-2023 | 2023-00522808 | |
| 31-12-2021 | micro format | 30-09-2022 | 2022-20449120 | |
| 31-12-2020 | micro format | 25-08-2021 | 2021-54700246 | |
| 31-12-2019 | micro format | 09-09-2020 | 2020-52100352 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-63300317 | |
| 31-12-2017 | micro format | 24-09-2018 | 2018-65000383 | |
| 31-12-2016 | micro format | 25-09-2017 | 2017-63200235 |