Odesk
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-06-2026 at the NBB all 5 filings
Turnover
≈ €180,000
Estimated: probably between €160,000 and €240,000
Total assets
€59,970▼ 70.7%
2024 · €204,976
Net result
€64,991▲ 53.0%
2024 · €42,483
Working capital
-€13,063
2024 · €1,560
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€87,886
▲ 52.6%
2025
20212025
Net result
€64,991
▲ 53.0%
2025
highest quarter of the sector
20212025
Equity
€2,100
▼ 12.8%
2025
lowest quarter of the sector
20212025
Total assets
€59,970
▼ 70.7%
2025
lowest quarter of the sector
20212025
Debt
€57,870
▼ 71.4%
2025
20212025
Working capital
-€13,063
2025
lowest quarter of the sector
20212025
Solvency
3.5%
▲ 2.3pp
2025
lowest quarter of the sector
20212025
Current ratio
0.77
▼ 0.23
2025
lowest quarter of the sector
20212025
Return on assets (ROA)
108.4%
▲ 87.6pp
2025
highest quarter of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result€12,498-€65,838▲ 427%€116,150▲ 76.4%€57,580▼ 50.4%€87,886▲ 52.6%
Net result€9,131within the sector's middle half-€51,801above the sector's middle half▲ 467%€90,994above the sector's middle half▲ 75.7%€42,483within the sector's middle half▼ 53.3%€64,991above the sector's middle half▲ 53.0%
Equity€11,131below the sector's middle half-€62,932within the sector's middle half▲ 465%€153,926within the sector's middle half▲ 145%€2,409below the sector's middle half▼ 98.4%€2,100below the sector's middle half▼ 12.8%
Total assets€39,334below the sector's middle half-€79,980within the sector's middle half▲ 103%€173,085within the sector's middle half▲ 116%€204,976within the sector's middle half▲ 18.4%€59,970below the sector's middle half▼ 70.7%
Debt€28,202-€17,048▼ 39.6%€19,160▲ 12.4%€202,567▲ 957%€57,870▼ 71.4%
Working capital€21,566within the sector's middle half-€62,932within the sector's middle half▲ 192%€152,582above the sector's middle half▲ 142%€1,560below the sector's middle half▼ 99.0%-€13,063below the sector's middle half
Solvency28.3%below the sector's middle half-78.7%within the sector's middle half▲ 50.4pp88.9%above the sector's middle half▲ 10.2pp1.2%below the sector's middle half▼ 87.8pp3.5%below the sector's middle half▲ 2.3pp
Current ratio2.23within the sector's middle half-4.69within the sector's middle half▲ 2.468.96above the sector's middle half▲ 4.271.01below the sector's middle half▼ 7.960.77below the sector's middle half▼ 0.23
Return on assets (ROA)23.2%within the sector's middle half-64.8%above the sector's middle half▲ 41.6pp52.6%above the sector's middle half▼ 12.2pp20.7%within the sector's middle half▼ 31.8pp108.4%above the sector's middle half▲ 87.6pp
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 53% higher than in 2024. It is a recovery after the fall 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 €59,970
Fixed assets
€15,163 ▲ 18×
Current assets
€44,807 ▼ 78.0%
Equity and liabilities €59,970
Equity
€2,100 ▼ 12.8%
Debt
€57,870 ▼ 71.4%
Debt's share of the balance-sheet total falls from 98.8% to 96.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€92,399▲
2024 · €58,075
Cash flow
€69,505▲
2024 · €42,978
Debt to equity
27.56▼
2024 · 84.10
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€57,870▼
2024 · €202,567
Income taxes
€23,189▲
2024 · €15,142
A ratio outside any meaningful range has been withheld (balance sheet total €59,970, equity €2,100).
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €1,487 | - | €18,828 |
| Depreciation and write-downs of the year | €899 | €260 | €143 | €496 | €4,513 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €899 | €260 | €143 | €496 | €4,513 | ▲ 811% |
| Other operating charges640/8 | - | €294 | €436 | €315 | €598 | ▲ 89.6% |
| Gross operating margin9900 | €13,397 | €66,392 | €116,728 | €58,391 | €92,997 | ▲ 59.3% |
| Operating profit (loss)9901 | €12,498 | €65,838 | €116,150 | €57,580 | €87,886 | ▲ 52.6% |
| Financial income75/76B | €20 | €0 | €2 | €182 | €350 | ▲ 92.6% |
| Recurring financial income75 | €20 | €0 | €2 | €182 | €350 | ▲ 92.6% |
| Financial charges65/66B | €87 | €50 | €151 | €137 | €55 | ▼ 59.5% |
| Recurring financial charges65 | €87 | €50 | €151 | €137 | €55 | ▼ 59.5% |
| Profit (loss) for the period before taxes9903 | €12,431 | €65,788 | €116,000 | €57,625 | €88,180 | ▲ 53.0% |
| Income taxes67/77 | €3,300 | €13,987 | €25,006 | €15,142 | €23,189 | ▲ 53.1% |
| Profit (loss) for the period9904 | €9,131 | €51,801 | €90,994 | €42,483 | €64,991 | ▲ 53.0% |
| Profit (loss) for the period to be appropriated9905 | €9,131 | €51,801 | €90,994 | €42,483 | €64,991 | ▲ 53.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €39,334 | €79,980 | €173,085 | €204,976 | €59,970 | ▼ 70.7% |
| Formation expenses20 | €260 | €0 | - | - | - | - |
| Fixed assets21/28 | - | - | €1,344 | €849 | €15,163 | ▲ 18× |
| Tangible fixed assets22/27 | - | - | €1,344 | €849 | €15,163 | ▲ 18× |
| Plant, machinery and equipment23 | - | - | €1,344 | €849 | €353 | ▼ 58.4% |
| Furniture and vehicles24 | - | - | - | - | €14,810 | - |
| Current assets29/58 | €39,073 | €79,980 | €171,741 | €204,127 | €44,807 | ▼ 78.0% |
| Amounts receivable within one year40/41 | €7,405 | €22,096 | €28,957 | €46,438 | €29,220 | ▼ 37.1% |
| Trade receivables40 | €6,705 | €21,383 | €25,749 | €25,000 | €22,220 | ▼ 11.1% |
| Other amounts receivable41 | €700 | €713 | €3,207 | €21,438 | €7,000 | ▼ 67.3% |
| Cash at bank and in hand54/58 | €27,924 | €52,076 | €141,014 | €156,998 | €13,989 | ▼ 91.1% |
| Deferred charges and accrued income490/1 | €3,744 | €5,809 | €1,771 | €691 | €1,597 | ▲ 131% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €39,334 | €79,980 | €173,085 | €204,976 | €59,970 | ▼ 70.7% |
| Equity10/15 | €11,131 | €62,932 | €153,926 | €2,409 | €2,100 | ▼ 12.8% |
| Contributions10/11 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Profit (loss) carried forward14 | €9,131 | €60,932 | €151,926 | €409 | €100 | ▼ 75.6% |
| Amounts payable17/49 | €28,202 | €17,048 | €19,160 | €202,567 | €57,870 | ▼ 71.4% |
| Amounts payable within one year42/48 | €17,507 | €17,048 | €19,160 | €202,567 | €57,870 | ▼ 71.4% |
| Financial debts43 | €1,028 | €892 | €2,436 | €38 | €1,837 | ▲ 48× |
| Credit institutions430/8 | €1,028 | €892 | €2,436 | €38 | €1,837 | ▲ 48× |
| Trade debts44 | €2,063 | €1,617 | €4,290 | €3,465 | €4,645 | ▲ 34.1% |
| Suppliers440/4 | €2,063 | €1,617 | €4,290 | €3,465 | €4,645 | ▲ 34.1% |
| Taxes, remuneration and social security45 | €4,277 | €9,846 | €12,433 | €5,065 | €16,827 | ▲ 232% |
| Taxes450/3 | €4,277 | €9,846 | €12,433 | €5,065 | €16,827 | ▲ 232% |
| Other amounts payable47/48 | €10,139 | €4,693 | €0 | €194,000 | €34,561 | ▼ 82.2% |
| Accrued charges and deferred income492/3 | €10,696 | €0 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9,131 | €51,801 | €90,994 | €42,483 | €64,991 | ▲ 53.0% |
| + Depreciation and write-downs630 | €899 | €260 | €143 | €496 | €4,513 | ▲ 811% |
| Operating cash flow (approximation) | €10,030 | €52,061 | €91,136 | €42,978 | €69,505 | ▲ 61.7% |
| Investment in fixed assets (approximation) | - | - | - | €0 | -€18,828 | - |
| Change in cash | - | €24,151 | €88,938 | €15,984 | -€143,009 | - |
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, 2,153 companies had the same profile as Odesk has now. Two years later, 96.1% were still going and 1.7% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
96.1%
was still going
2.2%
stopped otherwise
1.7%
went bankrupt
The bankruptcy probability of Odesk itself is lower: 0.1% within 12 months. It rests on far more data about Odesk 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 2,153 companies, not a prediction for Odesk. 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 (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-06-2026 | 2026-00224387 | |
| 31-12-2024 | micro format | 14-08-2025 | 2025-00375112 | |
| 31-12-2023 | micro format | 28-06-2024 | 2024-00176745 | |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00393637 | |
| 31-12-2021 | micro format | 29-06-2022 | 2022-20105422 |