NVandersom
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 29-01-2026 PDF all 13 filings
Turnover
≈ €400,000
Estimated: probably between €270,000 and €620,000
Total assets
€177,316▲ 2.3%
2024 · €173,299
Net result
€76,578▼ 42.1%
2024 · €132,213
Working capital
€8,307▲ 35.9%
2024 · €6,112
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€79,586
▼ 40.9%
2025
20192025
Net result
€76,578
▼ 42.1%
2025
highest quarter of the sector
20192025
Equity
€10,390
▲ 17.9%
2025
lowest quarter of the sector
20192025
Total assets
€177,316
▲ 2.3%
2025
middle half of the sector
20192025
Debt
€166,926
▲ 1.5%
2025
20192025
Working capital
€8,307
▲ 35.9%
2025
middle half of the sector
20192025
Solvency
5.9%
▲ 0.8pp
2025
lowest quarter of the sector
20192025
Current ratio
1.05
▲ 0.01
2025
lowest quarter of the sector
20192025
Return on assets (ROA)
43.2%
▼ 33.1pp
2025
highest quarter of the sector
20192025
Staff (FTE)
1
▼ 37.5%
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€99,431-€2,228▼ 97.8%€1,253▼ 43.8%€67,313▲ 54×€87,777▲ 30.4%€134,747▲ 53.5%€79,586▼ 40.9%
Net result€98,007-€811within the sector's middle half▼ 99.2%€320within the sector's middle half▼ 60.5%€65,125above the sector's middle half▲ 203×€84,444above the sector's middle half▲ 29.7%€132,213above the sector's middle half▲ 56.6%€76,578above the sector's middle half▼ 42.1%
Equity€4,898-€5,709below the sector's middle half▲ 16.6%€6,030below the sector's middle half▲ 5.6%€6,155below the sector's middle half▲ 2.1%€8,598below the sector's middle half▲ 39.7%€8,812below the sector's middle half▲ 2.5%€10,390below the sector's middle half▲ 17.9%
Total assets€207,359-€156,775within the sector's middle half▼ 24.4%€98,276within the sector's middle half▼ 37.3%€117,124within the sector's middle half▲ 19.2%€133,437within the sector's middle half▲ 13.9%€173,299within the sector's middle half▲ 29.9%€177,316within the sector's middle half▲ 2.3%
Debt€202,460-€151,066▼ 25.4%€92,246▼ 38.9%€110,969▲ 20.3%€124,838▲ 12.5%€164,487▲ 31.8%€166,926▲ 1.5%
Working capital-€3,742--€4,089below the sector's middle half▼ 9.3%-€1,842below the sector's middle half▲ 54.9%-€756below the sector's middle half▲ 59.0%€2,119below the sector's middle half€6,112within the sector's middle half▲ 188%€8,307within the sector's middle half▲ 35.9%
Solvency2.4%-3.6%below the sector's middle half▲ 1.3pp6.1%below the sector's middle half▲ 2.5pp5.3%below the sector's middle half▼ 0.9pp6.4%below the sector's middle half▲ 1.2pp5.1%below the sector's middle half▼ 1.4pp5.9%below the sector's middle half▲ 0.8pp
Current ratio0.98-0.97below the sector's middle half▼ 0.010.98below the sector's middle half▲ 0.010.99below the sector's middle half▲ 0.011.02below the sector's middle half▲ 0.021.04below the sector's middle half▲ 0.021.05below the sector's middle half▲ 0.01
Return on assets (ROA)47.3%-0.5%within the sector's middle half▼ 46.7pp0.3%below the sector's middle half▼ 0.2pp55.6%above the sector's middle half▲ 55.3pp63.3%above the sector's middle half▲ 7.7pp76.3%above the sector's middle half▲ 13.0pp43.2%above the sector's middle half▼ 33.1pp
Staff (FTE)1.2-2within the sector's middle half▲ 66.7%1.4▼ 30.0%1.1▼ 21.4%1.6▲ 45.5%1.6=1▼ 37.5%
above
within
below
The sector band is the middle half of the companies in Computing infrastructure, data processing, hosting and other information service activities (NACE 63). 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 41% lower than in 2024 and the lowest since 2022.
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 €177,316
Fixed assets
€2,700 =
Current assets
€174,616 ▲ 2.4%
Equity and liabilities €177,316
Equity
€10,390 ▲ 17.9%
Debt
€166,926 ▲ 1.5%
Debt's share of the balance-sheet total falls from 94.9% to 94.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€79,586▼
2024 · €138,882
Cash flow
€76,578▼
2024 · €136,348
Debt to equity
16.07▼
2024 · 18.67
ROE
737.0%
Interest coverage
65.10▼
2024 · over 100
Debt ≤ 1 year
€166,309▲
2024 · €164,487
Income taxes
€1,811▲
2024 · €1,786
Staff costs
€79,291▼
2024 · €100,478
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 2 | 2 | 2 | 1 |
| full-time | 1 | 1 | 1 | 1 |
| part-time | 1 | 1 | 1 | 0 |
| in full-time equivalents | 1.6 | 1.6 | 1.6 | 1 |
| Average over the year, in full-time equivalents | 1.1 | 1.6 | 1.6 | 1 |
| On a permanent contract | 1 | 2 | 2 | 1 |
| Joined | 1 | - | - | - |
| Left | 0 | - | - | - |
Source: social balance sheet in the 2022 to 2025 annual accounts
Subsidies and aid
Flemish government
2025 · 1 entry · €1,086 awarded · €1,086 paidSchemes
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €56,126 | €87,480 | €100,478 | €79,291 | ▼ 21.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,398 | €6,604 | €6,056 | €5,147 | €4,674 | €4,135 | €0 | ▼ 100% |
| Other operating charges640/8 | - | - | - | €907 | €547 | €446 | €458 | ▲ 2.6% |
| Gross operating margin9900 | €167,170 | €72,005 | €65,318 | €129,493 | €180,478 | €239,806 | €159,336 | ▼ 33.6% |
| Operating profit (loss)9901 | €99,431 | €2,228 | €1,253 | €67,313 | €87,777 | €134,747 | €79,586 | ▼ 40.9% |
| Financial income75/76B | - | - | - | €0 | €16 | €1 | €26 | ▲ 25× |
| Recurring financial income75 | €34 | €79 | €0 | €0 | €16 | €1 | €26 | ▲ 25× |
| Financial charges65/66B | - | - | - | €878 | €869 | €749 | €1,222 | ▲ 63.2% |
| Recurring financial charges65 | €344 | €324 | €694 | €878 | €869 | €749 | €1,222 | ▲ 63.2% |
| Profit (loss) for the period before taxes9903 | €99,121 | €1,983 | €559 | €66,435 | €86,923 | €133,999 | €78,389 | ▼ 41.5% |
| Income taxes67/77 | €1,113 | €1,172 | €239 | €1,310 | €2,480 | €1,786 | €1,811 | ▲ 1.4% |
| Profit (loss) for the period9904 | €98,007 | €811 | €320 | €65,125 | €84,444 | €132,213 | €76,578 | ▼ 42.1% |
| Profit (loss) for the period to be appropriated9905 | €98,007 | €811 | €320 | €65,125 | €84,444 | €132,213 | €76,578 | ▼ 42.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €207,359 | €156,775 | €98,276 | €117,124 | €133,437 | €173,299 | €177,316 | ▲ 2.3% |
| Fixed assets21/28 | €8,640 | €22,712 | €16,656 | €11,509 | €6,835 | €2,700 | €2,700 | = |
| Tangible fixed assets22/27 | €5,940 | €20,012 | €13,956 | €8,809 | €4,135 | €0 | - | - |
| Furniture and vehicles24 | - | - | - | €8,270 | €4,135 | €0 | - | - |
| Other tangible fixed assets26 | - | - | - | €539 | €0 | - | - | - |
| Financial fixed assets28 | €2,700 | €2,700 | €2,700 | €2,700 | €2,700 | €2,700 | €2,700 | = |
| Current assets29/58 | €198,718 | €134,063 | €81,619 | €105,615 | €126,602 | €170,599 | €174,616 | ▲ 2.4% |
| Stocks and contracts in progress3 | - | - | - | - | €835 | €0 | - | - |
| Stocks30/36 | - | - | - | - | €835 | €0 | - | - |
| Amounts receivable within one year40/41 | €29,603 | €42,600 | €43,596 | €58,852 | €66,088 | €62,436 | €47,055 | ▼ 24.6% |
| Trade receivables40 | - | - | - | €55,195 | €63,658 | €61,305 | €44,205 | ▼ 27.9% |
| Other amounts receivable41 | - | - | - | €3,657 | €2,431 | €1,131 | €2,851 | ▲ 152% |
| Cash at bank and in hand54/58 | €169,116 | €89,650 | €38,024 | €46,762 | €59,484 | €107,725 | €126,362 | ▲ 17.3% |
| Deferred charges and accrued income490/1 | - | - | - | - | €195 | €438 | €1,199 | ▲ 174% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €207,359 | €156,775 | €98,276 | €117,124 | €133,437 | €173,299 | €177,316 | ▲ 2.3% |
| Equity10/15 | €4,898 | €5,709 | €6,030 | €6,155 | €8,598 | €8,812 | €10,390 | ▲ 17.9% |
| Contributions10/11 | €6,200 | - | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €2,398 | €2,612 | €4,190 | ▲ 60.4% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | - | €2,398 | €2,612 | €4,190 | ▲ 60.4% |
| Profit (loss) carried forward14 | -€3,162 | -€2,351 | -€2,030 | -€1,905 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €202,460 | €151,066 | €92,246 | €110,969 | €124,838 | €164,487 | €166,926 | ▲ 1.5% |
| Amounts payable after more than one year17 | - | €12,914 | €8,784 | €4,599 | €356 | €0 | - | - |
| Financial debts170/4 | - | - | - | €4,599 | €356 | €0 | - | - |
| Amounts payable within one year42/48 | €202,460 | €138,152 | €83,462 | €106,371 | €124,482 | €164,487 | €166,309 | ▲ 1.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €4,186 | €4,242 | €356 | €0 | ▼ 100% |
| Trade debts44 | €99,496 | €126,072 | €75,222 | €25,535 | €27,378 | €13,321 | €70,266 | ▲ 427% |
| Suppliers440/4 | - | - | - | €25,535 | €27,378 | €13,321 | €70,266 | ▲ 427% |
| Taxes, remuneration and social security45 | - | - | - | €6,664 | €7,018 | €9,491 | €13,680 | ▲ 44.1% |
| Taxes450/3 | - | - | - | €2,952 | €1,179 | €3,266 | €5,330 | ▲ 63.2% |
| Remuneration and social security454/9 | - | - | - | €3,712 | €5,839 | €6,225 | €8,350 | ▲ 34.1% |
| Other amounts payable47/48 | - | - | - | €69,986 | €85,845 | €141,319 | €82,362 | ▼ 41.7% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €617 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €98,007 | €811 | €320 | €65,125 | €84,444 | €132,213 | €76,578 | ▼ 42.1% |
| + Depreciation and write-downs630 | €3,398 | €6,604 | €6,056 | €5,147 | €4,674 | €4,135 | €0 | ▼ 100% |
| Operating cash flow (approximation) | €101,405 | €7,415 | €6,376 | €70,272 | €89,118 | €136,348 | €76,578 | ▼ 43.8% |
| Investment in fixed assets (approximation) | - | -€20,675 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€79,465 | -€51,627 | €8,739 | €12,721 | €48,241 | €18,637 | ▼ 61.4% |
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, 1,325 companies had the same profile as NVandersom has now. Two years later, 95.2% were still going and 1.4% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
95.2%
was still going
3.2%
stopped otherwise
1.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of NVandersom itself is lower: 0.1% within 12 months. It rests on far more data about NVandersom than the profile alone.
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 1,325 companies, not a prediction for NVandersom. 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 13 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 29-01-2026 | 2026-00017097 | |
| 30-06-2024 | micro format | 20-12-2024 | 2024-00621096 | |
| 30-06-2023 | micro format | 02-01-2024 | 2024-00540732 | |
| 30-06-2022 | micro format | 30-12-2022 | 2022-20549642 | |
| 30-06-2021 | micro format | 31-01-2022 | 2022-03300114 | |
| 30-06-2020 | micro format | 19-12-2020 | 2020-76400336 | |
| 30-06-2019 | micro format | 30-01-2020 | 2020-03500522 | |
| 30-06-2018 | micro format | 31-01-2019 | 2019-03500434 | |
| 30-06-2017 | micro format | 31-01-2018 | 2018-03400481 | |
| 30-06-2016 | abbreviated format | 30-01-2017 | 2017-02600278 |