ONEPACE
ActiveFinancials · financial year 2025, abbreviated format
2025 annual accounts filed 23 days after the deadline Filed on 23 February 2026, deadline 31 January 2026 (7 months after the close on 30 June 2025, Companies Code art. 3:10). Source: NBB, 2026-00042014.
Annual accounts 2025 filed on 23-02-2026 PDF all 11 filings
Turnover
≈ €1.1m
Estimated: probably between €740,000 and €1.4m
Total assets
€714,055▼ 16.6%
2024 · €855,753
Net result
€85,817▼ 53.2%
2024 · €183,311
Working capital
€376,404▲ 4.1%
2024 · €361,599
Multi-year overview
2018 to 2025, 7 financial yearsOperating result
€134,690
▼ 53.1%
2025
20182025
Net result
€85,817
▼ 53.2%
2025
highest quarter of the sector
20182025
Equity
€445,801
▼ 1.2%
2025
middle half of the sector
20182025
Total assets
€714,055
▼ 16.6%
2025
middle half of the sector
20182025
Debt
€268,255
▼ 33.7%
2025
20182025
Working capital
€376,404
▲ 4.1%
2025
middle half of the sector
20182025
Solvency
62.4%
▲ 9.7pp
2025
middle half of the sector
20182025
Current ratio
2.48
▲ 0.36
2025
middle half of the sector
20182025
Return on assets (ROA)
12.0%
▼ 9.4pp
2025
highest quarter of the sector
20182025
Staff (FTE)
3.8
▼ 2.6%
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018202020212022202320242025
Operating result€0.3m-€0.09m-€0.09m▼ 2.4%€0.05m▼ 41.5%€0.04m▼ 25.5%€0.3m▲ 612%€0.1m▼ 53.1%
Net result€0.1m--€0.002mwithin the sector's middle half-€0.02mwithin the sector's middle half€0.01mwithin the sector's middle half▼ 8.5%€0.005mwithin the sector's middle half▼ 67.9%€0.2mabove the sector's middle half▲ 40×€0.09mabove the sector's middle half▼ 53.2%
Equity€0.2m-€0.2mwithin the sector's middle half-€0.2mwithin the sector's middle half▲ 6.7%€0.3mwithin the sector's middle half▲ 5.8%€0.3mwithin the sector's middle half▲ 1.8%€0.5mwithin the sector's middle half▲ 68.4%€0.4mwithin the sector's middle half▼ 1.2%
Total assets€1.7m-€1.9mwithin the sector's middle half-€1.4mwithin the sector's middle half▼ 26.1%€1.3mwithin the sector's middle half▼ 11.0%€1.4mwithin the sector's middle half▲ 9.3%€0.9mwithin the sector's middle half▼ 37.6%€0.7mwithin the sector's middle half▼ 16.6%
Debt€1.4m-€1.7m-€1.2m▼ 30.6%€1.0m▼ 14.5%€1.1m▲ 11.3%€0.4m▼ 63.4%€0.3m▼ 33.7%
Working capital€0.2m-€0.7mabove the sector's middle half-€0.4mwithin the sector's middle half▼ 37.6%€0.3mwithin the sector's middle half▼ 21.9%€0.3mwithin the sector's middle half▼ 16.5%€0.4mwithin the sector's middle half▲ 24.0%€0.4mwithin the sector's middle half▲ 4.1%
Solvency14.1%-12.2%within the sector's middle half-17.7%within the sector's middle half▲ 5.4pp21.0%within the sector's middle half▲ 3.3pp19.5%within the sector's middle half▼ 1.5pp52.7%within the sector's middle half▲ 33.2pp62.4%within the sector's middle half▲ 9.7pp
Current ratio1.24-1.88within the sector's middle half-1.65within the sector's middle half▼ 0.231.50within the sector's middle half▼ 0.151.34within the sector's middle half▼ 0.172.12within the sector's middle half▲ 0.792.48within the sector's middle half▲ 0.36
Return on assets (ROA)8.9%--0.1%within the sector's middle half-1.1%within the sector's middle half▲ 1.2pp1.1%within the sector's middle half=0.3%within the sector's middle half▼ 0.8pp21.4%above the sector's middle half▲ 21.1pp12.0%above the sector's middle half▼ 9.4pp
Staff (FTE)1.9-2.2within the sector's middle half-4.6above the sector's middle half▲ 109%4.7above the sector's middle half▲ 2.2%5above the sector's middle half▲ 6.4%3.9above the sector's middle half▼ 22.0%3.8above the sector's middle half▼ 2.6%
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). 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% lower than in 2024.
Turnover and EBIT margin are not published. The abbreviated 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 €714,055
Fixed assets
€84,132 ▼ 51.0%
Current assets
€629,923 ▼ 7.9%
Equity and liabilities €714,055
Equity
€445,801 ▼ 1.2%
Debt
€268,255 ▼ 33.7%
Debt's share of the balance-sheet total falls from 47.3% to 37.6%. Equity and debt are lower.
Key figures and ratios
EBITDA
€225,835▼
2024 · €389,044
Cash flow
€176,962▼
2024 · €285,073
Quick ratio
2.21▲
2024 · 1.29
Debt to equity
0.60▼
2024 · 0.90
ROE
19.3%▼
2024 · 40.6%
Interest coverage
15.79▲
2024 · 9.95
Debt ≤ 1 year
€253,519▼
2024 · €322,349
Debt > 1 year
€14,735▼
2024 · €82,223
Income taxes
€37,199▼
2024 · €66,057
Staff costs
€202,328▼
2024 · €216,942
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 | 5 | 5 | 4 | 3 |
| full-time | 5 | 5 | 4 | 3 |
| part-time | - | - | 0 | 0 |
| in full-time equivalents | 5 | 5 | 4 | 3 |
| Average over the year, in full-time equivalents | 4.7 | 5 | 3.9 | 3.8 |
| On a permanent contract | 4 | 4 | 4 | 3 |
| Joined | 1 | - | 4 | 2 |
| Left | 1 | - | 4 | 3 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Securities and guarantees
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Debts secured on the company's own assets | - | - | €155,072 | €44,459 |
| Pledge on the business | - | - | €250,000 | €250,000 |
| Guarantees given for others' debts | - | - | €250,000 | - |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €125,207 | €101,819 | €32,076 | - |
| Intangible fixed assets | €4,940 | €40,429 | €27,394 | - |
| Financial fixed assets | €4,356 | - | - | €3,473 |
| Depreciation and write-downs of the year | €196,143 | €137,348 | €101,762 | €91,145 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €15,094 | €9,792 | €0 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €208,740 | €241,203 | €216,942 | €202,328 | ▼ 6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €420,453 | €522,329 | €267,026 | €196,143 | €137,348 | €101,762 | €91,145 | ▼ 10.4% |
| Other operating charges640/8 | - | - | - | €153,584 | €39,357 | €15,391 | €4,570 | ▼ 70.3% |
| Gross operating margin9900 | €767,220 | €741,275 | €530,330 | €612,645 | €458,257 | €621,377 | €432,732 | ▼ 30.4% |
| Operating profit (loss)9901 | €259,024 | €94,889 | €92,604 | €54,178 | €40,349 | €287,282 | €134,690 | ▼ 53.1% |
| Financial income75/76B | - | - | - | €5,668 | €308 | €1,182 | €2,626 | ▲ 122% |
| Recurring financial income75 | €1,722 | €3,162 | €6,262 | €5,668 | €308 | €1,182 | €2,626 | ▲ 122% |
| Financial charges65/66B | - | - | - | €31,895 | €32,124 | €39,096 | €14,300 | ▼ 63.4% |
| Recurring financial charges65 | €43,412 | €85,170 | €73,434 | €31,895 | €32,124 | €39,096 | €14,300 | ▼ 63.4% |
| Profit (loss) for the period before taxes9903 | €217,334 | €9,220 | €25,431 | €27,951 | €8,533 | €249,368 | €123,016 | ▼ 50.7% |
| Income taxes67/77 | €70,029 | €10,861 | €9,727 | €13,584 | €3,917 | €66,057 | €37,199 | ▼ 43.7% |
| Profit (loss) for the period9904 | €147,305 | -€1,640 | €15,704 | €14,367 | €4,616 | €183,311 | €85,817 | ▼ 53.2% |
| Profit (loss) for the period to be appropriated9905 | €147,305 | -€1,640 | €15,704 | €14,367 | €4,616 | €183,311 | €85,817 | ▼ 53.2% |
| Line | 2018 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.7m | €1.9m | €1.4m | €1.3m | €1.4m | €0.9m | €0.7m | ▼ 16.6% |
| Fixed assets21/28 | €0.7m | €0.4m | €0.3m | €0.2m | €0.2m | €0.2m | €0.08m | ▼ 51.0% |
| Intangible fixed assets21 | €0.01m | €0.005m | €0.02m | €0.01m | €0.04m | €0.04m | €0.02m | ▼ 56.2% |
| Tangible fixed assets22/27 | €0.7m | €0.4m | €0.3m | €0.2m | €0.2m | €0.1m | €0.06m | ▼ 54.1% |
| Plant, machinery and equipment23 | - | - | - | €0.2m | €0.2m | €0.1m | €0.05m | ▼ 55.4% |
| Furniture and vehicles24 | - | - | - | €229 | €76 | €0.005m | €0.004m | ▼ 21.9% |
| Financial fixed assets28 | €0.006m | €0.005m | €0.004m | €0.007m | €0.005m | €0.005m | €0.008m | ▲ 69.4% |
| Current assets29/58 | €1.0m | €1.5m | €1.1m | €1.0m | €1.2m | €0.7m | €0.6m | ▼ 7.9% |
| Stocks and contracts in progress3 | €0.4m | €0.4m | €0.3m | €0.3m | €0.3m | €0.3m | €0.07m | ▼ 74.5% |
| Stocks30/36 | - | - | - | €0.3m | €0.3m | €0.3m | €0.07m | ▼ 74.5% |
| Amounts receivable within one year40/41 | €0.4m | €1.0m | €0.4m | €0.6m | €0.6m | €0.3m | €0.5m | ▲ 73.9% |
| Trade receivables40 | - | - | - | €0.4m | €0.3m | €0.3m | €0.4m | ▲ 68.0% |
| Other amounts receivable41 | - | - | - | €0.2m | €0.2m | €0.01m | €0.03m | ▲ 206% |
| Cash at bank and in hand54/58 | €0.09m | €0.1m | €0.2m | €0.06m | €0.3m | €0.1m | €0.09m | ▼ 34.5% |
| Deferred charges and accrued income490/1 | - | - | - | €0.02m | €0.009m | €0.009m | €0.007m | ▼ 24.3% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.7m | €1.9m | €1.4m | €1.3m | €1.4m | €0.9m | €0.7m | ▼ 16.6% |
| Equity10/15 | €0.2m | €0.2m | €0.2m | €0.3m | €0.3m | €0.5m | €0.4m | ▼ 1.2% |
| Contributions10/11 | €0.02m | - | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.4m | €0.4m | ▼ 1.2% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Distributable reserves133 | - | - | - | €0.2m | €0.2m | €0.4m | €0.4m | ▼ 1.2% |
| Profit (loss) carried forward14 | €223 | -€0.001m | - | - | - | - | - | - |
| Amounts payable17/49 | €1.4m | €1.7m | €1.2m | €1.0m | €1.1m | €0.4m | €0.3m | ▼ 33.7% |
| Amounts payable after more than one year17 | €0.6m | €0.9m | €0.5m | €0.3m | €0.2m | €0.08m | €0.01m | ▼ 82.1% |
| Financial debts170/4 | - | - | - | €0.3m | €0.1m | €0.04m | €0 | ▼ 100% |
| Other amounts payable178/9 | - | - | - | €0.02m | €0.09m | €0.04m | €0.01m | ▼ 66.5% |
| Amounts payable within one year42/48 | €0.8m | €0.8m | €0.7m | €0.7m | €0.9m | €0.3m | €0.3m | ▼ 21.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.5m | €0.4m | €0.2m | €0.07m | ▼ 54.4% |
| Financial debts43 | - | - | - | - | - | €0 | - | - |
| Credit institutions430/8 | - | - | - | - | - | €0 | - | - |
| Trade debts44 | €0.4m | €0.2m | €0.04m | €0.1m | €0.3m | €0.1m | €0.09m | ▼ 25.9% |
| Suppliers440/4 | - | - | - | €0.1m | €0.3m | €0.1m | €0.09m | ▼ 25.9% |
| Taxes, remuneration and social security45 | - | - | - | €0.07m | €0.08m | €0.04m | €0.09m | ▲ 123% |
| Taxes450/3 | - | - | - | €0.06m | €0.06m | €0.02m | €0.08m | ▲ 287% |
| Remuneration and social security454/9 | - | - | - | €0.01m | €0.03m | €0.02m | €0.009m | ▼ 55.2% |
| Other amounts payable47/48 | - | - | - | €0.04m | €0.04m | €0 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €6 | - | - | - | - |
| Line | 2018 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €147,305 | -€1,640 | €15,704 | €14,367 | €4,616 | €183,311 | €85,817 | ▼ 53.2% |
| + Depreciation and write-downs630 | €420,453 | €522,329 | €267,026 | €196,143 | €137,348 | €101,762 | €91,145 | ▼ 10.4% |
| Operating cash flow (approximation) | €567,757 | €520,689 | €282,730 | €210,510 | €141,964 | €285,073 | €176,962 | ▼ 37.9% |
| Investment in fixed assets (approximation) | - | - | -€162,679 | -€132,579 | -€140,736 | -€59,471 | -€3,473 | ▲ 94.2% |
| Change in cash | - | - | €34,516 | -€93,101 | €245,503 | -€163,199 | -€48,036 | ▲ 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, 34,693 companies had the same profile as ONEPACE has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of ONEPACE itself: 0.5% 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 34,693 companies, not a prediction for ONEPACE. 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 |
|---|---|---|---|---|
| 30-06-2025 | abbreviated format | 23-02-2026 | 2026-00042014 | |
| 30-06-2024 | abbreviated format | 25-07-2025 | 2025-00317464 | |
| 30-06-2023 | abbreviated format | 21-12-2023 | 2023-00534736 | |
| 30-06-2022 | abbreviated format | 31-01-2023 | 2023-00012920 | |
| 30-06-2021 | abbreviated format | 05-01-2022 | 2022-00500403 | |
| 30-06-2020 | abbreviated format | 27-01-2021 | 2021-02600329 | |
| 31-12-2018 | abbreviated format | 26-08-2019 | 2019-49800053 | |
| 31-12-2017 | micro format | 25-06-2018 | 2018-21100020 | |
| 31-12-2016 | micro format | 31-08-2017 | 2017-52700544 | |
| 31-12-2015 | abbreviated format | 28-06-2016 | 2016-22500494 |