NEW RETURN
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, 2026-00488971.
Annual accounts 2025 filed on 26-08-2026 at the NBB all 11 filings
Equity
€14,734▲ 4.1%
2024 · €14,151
Total assets
€14,946▲ 3.9%
2024 · €14,383
Net result
€583▼ 6.0%
2024 · €620
Working capital
€14,734▲ 4.1%
2024 · €14,151
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
no figure
2025
20182025
Net result
€583
▼ 6.0%
2025
lowest quarter of the sector
20182025
Equity
€14,734
▲ 4.1%
2025
lowest quarter of the sector
20182025
Total assets
€14,946
▲ 3.9%
2025
lowest quarter of the sector
20182025
Debt
€212
▼ 8.6%
2025
20182025
Working capital
€14,734
▲ 4.1%
2025
middle half of the sector
20182025
Solvency
98.6%
▲ 0.2pp
2025
highest quarter of the sector
20182025
Current ratio
70.47
▲ 8.50
2025
highest quarter of the sector
20182025
Return on assets (ROA)
3.9%
▼ 0.4pp
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€716--€55-€348▼ 538%
Net result€230-€545▲ 137%€856below the sector's middle half▲ 56.9%€291below the sector's middle half▼ 66.0%€509below the sector's middle half▲ 74.9%€524below the sector's middle half▲ 2.9%€620below the sector's middle half▲ 18.3%€583below the sector's middle half▼ 6.0%
Equity€10,807-€11,352▲ 5.0%€12,208below the sector's middle half▲ 7.5%€12,499below the sector's middle half▲ 2.4%€13,008below the sector's middle half▲ 4.1%€13,532below the sector's middle half▲ 4.0%€14,151below the sector's middle half▲ 4.6%€14,734below the sector's middle half▲ 4.1%
Total assets€14,284-€14,302▲ 0.1%€14,016below the sector's middle half▼ 2.0%€16,545below the sector's middle half▲ 18.0%€13,299below the sector's middle half▼ 19.6%€13,722below the sector's middle half▲ 3.2%€14,383below the sector's middle half▲ 4.8%€14,946below the sector's middle half▲ 3.9%
Debt€3,477-€2,950▼ 15.2%€1,808▼ 38.7%€4,046▲ 124%€291▼ 92.8%€191▼ 34.5%€232▲ 21.8%€212▼ 8.6%
Working capital€10,807-€11,352▲ 5.0%€12,208below the sector's middle half▲ 7.5%€12,499below the sector's middle half▲ 2.4%€13,008within the sector's middle half▲ 4.1%€13,532within the sector's middle half▲ 4.0%€14,151within the sector's middle half▲ 4.6%€14,734within the sector's middle half▲ 4.1%
Solvency75.7%-79.4%▲ 3.7pp87.1%above the sector's middle half▲ 7.7pp75.5%within the sector's middle half▼ 11.6pp97.8%above the sector's middle half▲ 22.3pp98.6%above the sector's middle half▲ 0.8pp98.4%above the sector's middle half▼ 0.2pp98.6%above the sector's middle half▲ 0.2pp
Current ratio4.11-4.85▲ 0.747.75above the sector's middle half▲ 2.904.09within the sector's middle half▼ 3.6645.68above the sector's middle half▲ 41.5971.99above the sector's middle half▲ 26.3161.97above the sector's middle half▼ 10.0270.47above the sector's middle half▲ 8.50
Return on assets (ROA)1.6%-3.8%▲ 2.2pp6.1%within the sector's middle half▲ 2.3pp1.8%below the sector's middle half▼ 4.3pp3.8%within the sector's middle half▲ 2.1pp3.8%below the sector's middle half=4.3%below the sector's middle half▲ 0.5pp3.9%below the sector's middle half▼ 0.4pp
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 2021 is a loss of €348. 2021 is the only financial year with this figure.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €14,946
Equity
€14,734 ▲ 4.1%
Debt
€212 ▼ 8.6%
Debt's share of the balance-sheet total falls from 1.6% to 1.4%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
0.01▼
2024 · 0.02
ROE
4.0%▼
2024 · 4.4%
Debt ≤ 1 year
€212▼
2024 · €232
Income taxes
€212▼
2024 · €232
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 |
|---|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €348 | - | - | - | - | - |
| Gross operating margin9900 | €795 | - | -€55 | - | - | - | - | - | - |
| Operating profit (loss)9901 | €716 | - | -€55 | -€348 | - | - | - | - | - |
| Financial income75/76B | - | - | - | €959 | €1,029 | €714 | €852 | €795 | ▼ 6.7% |
| Recurring financial income75 | - | €1,202 | €1,374 | €959 | €1,029 | €714 | €852 | €795 | ▼ 6.7% |
| Financial charges65/66B | - | - | - | €215 | €335 | - | - | - | - |
| Recurring financial charges65 | €475 | €386 | €164 | €215 | €335 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €241 | €816 | €1,156 | €397 | €694 | €714 | €852 | €795 | ▼ 6.7% |
| Income taxes67/77 | €11 | €271 | €300 | €106 | €185 | €191 | €232 | €212 | ▼ 8.6% |
| Profit (loss) for the period9904 | €230 | €545 | €856 | €291 | €509 | €524 | €620 | €583 | ▼ 6.0% |
| Profit (loss) for the period to be appropriated9905 | €230 | €545 | €856 | €291 | €509 | €524 | €620 | €583 | ▼ 6.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €14,284 | €14,302 | €14,016 | €16,545 | €13,299 | €13,722 | €14,383 | €14,946 | ▲ 3.9% |
| Current assets29/58 | €14,284 | €14,302 | €14,016 | €16,545 | €13,299 | €13,722 | €14,383 | €14,946 | ▲ 3.9% |
| Amounts receivable within one year40/41 | €14,284 | €14,302 | €14,016 | €16,545 | €13,299 | €13,722 | €14,383 | €14,946 | ▲ 3.9% |
| Other amounts receivable41 | - | - | - | €16,545 | €13,299 | €13,722 | €14,383 | €14,946 | ▲ 3.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €14,284 | €14,302 | €14,016 | €16,545 | €13,299 | €13,722 | €14,383 | €14,946 | ▲ 3.9% |
| Equity10/15 | €10,807 | €11,352 | €12,208 | €12,499 | €13,008 | €13,532 | €14,151 | €14,734 | ▲ 4.1% |
| Contributions10/11 | €100 | €100 | - | €100 | €100 | €100 | €100 | €100 | = |
| Reserves13 | €9,076 | €9,076 | €9,076 | €9,076 | €9,076 | €9,076 | €9,076 | €9,076 | = |
| Non-distributable reserves130/1 | - | - | - | €2,726 | €2,726 | €2,726 | €2,726 | €2,726 | = |
| Reserves not available under the articles1311 | - | - | - | €2,726 | €2,726 | €2,726 | €2,726 | €2,726 | = |
| Distributable reserves133 | - | - | - | €6,350 | €6,350 | €6,350 | €6,350 | €6,350 | = |
| Profit (loss) carried forward14 | €1,631 | €2,176 | €3,032 | €3,323 | €3,832 | €4,356 | €4,975 | €5,558 | ▲ 11.7% |
| Amounts payable17/49 | €3,477 | €2,950 | €1,808 | €4,046 | €291 | €191 | €232 | €212 | ▼ 8.6% |
| Amounts payable within one year42/48 | €3,477 | €2,950 | €1,808 | €4,046 | €291 | €191 | €232 | €212 | ▼ 8.6% |
| Financial debts43 | - | - | - | €3,631 | - | - | - | - | - |
| Credit institutions430/8 | - | - | - | €3,631 | - | - | - | - | - |
| Trade debts44 | €540 | - | - | - | - | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €414 | €291 | €191 | €232 | €212 | ▼ 8.6% |
| Taxes450/3 | - | - | - | €414 | €291 | €191 | €232 | €212 | ▼ 8.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €230 | €545 | €856 | €291 | €509 | €524 | €620 | €583 | ▼ 6.0% |
| Operating cash flow (approximation) | €230 | €545 | €856 | €291 | €509 | €524 | €620 | €583 | ▼ 6.0% |
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 NEW RETURN 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 NEW RETURN 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 10,904 companies, not a prediction for NEW RETURN. 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 11 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 26-08-2026 | 2026-00488971 | |
| 31-12-2024 | micro format | 29-08-2025 | 2025-00461900 | |
| 31-12-2023 | micro format | 30-09-2024 | 2024-00485919 | |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00397153 | |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20374726 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-66400375 | |
| 31-12-2019 | micro format | 31-10-2020 | 2020-67000503 | |
| 31-12-2018 | micro format | 29-08-2019 | 2019-54800601 | |
| 31-12-2017 | micro format | 27-09-2018 | 2018-68200377 | |
| 31-12-2016 | micro format | 31-08-2017 | 2017-54500337 |