Open Analytics
ActiveSummary
Open Analytics has been active since 2013 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.3m and a net result of €4.3m. Equity is growing by about 7.8% per year across the filed financial years. Its solvency ranks better than 34% of 3,850 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Financials · financial year 2025, full format
Turnover
€10.9m▲ 2.4%
2024 · €10.6m
EBIT margin
44.9%▼ 1.5pp
2024 · 46.4%
Net result
€4.3m▲ 1.2%
2024 · €4.3m
Working capital
€3.1m▲ 155%
2024 · €1.2m
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result falls in 2025; 2025 is 1% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€10.9m
2025
Operating result€4.9m
2025
Net result€4.3m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€9.4m
2025
Equity€3.3m
2025
Debt€6.1m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€3.1m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin44.9%
2025
Return on assets (ROA)45.9%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency35.3%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.54
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)40.5
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Turnover€10.3m€10.6m▲ 3.5%€10.9m▲ 2.4%
Operating result€2.3m-€2.7m▲ 15.9%€5.1m▲ 89.3%€5.3m▲ 3.3%€4.5m▼ 13.7%€4.9m▲ 8.8%€4.9m▼ 0.9%
Net result€2.2m-€2.4mabove the sector's middle half▲ 11.4%€4.6mabove the sector's middle half▲ 90.5%€4.7mabove the sector's middle half▲ 2.5%€4.0mabove the sector's middle half▼ 15.2%€4.3mabove the sector's middle half▲ 6.7%€4.3mabove the sector's middle half▲ 1.2%
EBIT margin44.1%46.4%▲ 2.3pp44.9%▼ 1.5pp
Equity€2.0m-€2.0mabove the sector's middle half▲ 0.7%€2.5mabove the sector's middle half▲ 22.4%€3.7mabove the sector's middle half▲ 49.5%€1.5mwithin the sector's middle half▼ 58.6%€1.7mwithin the sector's middle half▲ 12.0%€3.3mwithin the sector's middle half▲ 94.8%
Total assets€4.3m-€5.0mabove the sector's middle half▲ 14.7%€7.4mabove the sector's middle half▲ 48.2%€10.3mabove the sector's middle half▲ 39.0%€5.2mwithin the sector's middle half▼ 49.3%€8.0mabove the sector's middle half▲ 54.5%€9.4mwithin the sector's middle half▲ 17.0%
Debt€2.3m-€3.0m▲ 26.6%€4.9m▲ 65.6%€6.6m▲ 33.7%€3.7m▼ 44.2%€6.3m▲ 72.1%€6.1m▼ 3.9%
Working capital€1.2m-€1.2mabove the sector's middle half▼ 4.3%€1.5mabove the sector's middle half▲ 27.1%€3.0mabove the sector's middle half▲ 99.9%€0.8mabove the sector's middle half▼ 73.3%€1.2mabove the sector's middle half▲ 53.4%€3.1mabove the sector's middle half▲ 155%
Solvency45.9%-40.3%within the sector's middle half▼ 5.6pp33.3%within the sector's middle half▼ 7.0pp35.8%within the sector's middle half▲ 2.5pp29.3%within the sector's middle half▼ 6.5pp21.2%within the sector's middle half▼ 8.1pp35.3%within the sector's middle half▲ 14.1pp
Current ratio1.53-1.40within the sector's middle half▼ 0.131.31within the sector's middle half▼ 0.091.46within the sector's middle half▲ 0.161.22within the sector's middle half▼ 0.241.20within the sector's middle half▼ 0.021.54within the sector's middle half▲ 0.34
Return on assets (ROA)49.9%-48.4%above the sector's middle half▼ 1.5pp62.3%above the sector's middle half▲ 13.8pp46.0%above the sector's middle half▼ 16.3pp76.9%above the sector's middle half▲ 30.9pp53.1%above the sector's middle half▼ 23.8pp45.9%above the sector's middle half▼ 7.2pp
Staff (FTE)20.9-27.7above the sector's middle half▲ 32.5%38.6above the sector's middle half▲ 39.4%41.6above the sector's middle half▲ 7.8%42.8above the sector's middle half▲ 2.9%41.2above the sector's middle half▼ 3.7%40.5above the sector's middle half▼ 1.7%
above
within
below
the middle half of NACE 70, Activities of head offices; management consultancy activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €9.4m
Fixed assets
€399,549 ▼ 27.1%
Current assets
€9.0m ▲ 20.2%
Equity and liabilities €9.4m
Equity
€3.3m ▲ 94.8%
Debt
€6.1m ▼ 3.9%
Debt's share of the balance-sheet total falls from 78.8% to 64.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€5.1m▼
2024 · €5.2m
Cash flow
€4.5m=
2024 · €4.5m
Debt to equity
1.83▼
2024 · 3.71
ROE
130.0%▼
2024 · 250.3%
Interest coverage
73.17▼
2024 · 89.19
Debt ≤ 1 year
€5.9m▼
2024 · €6.3m
Income taxes
€509,768▼
2024 · €632,525
Staff costs
€3.3m▼
2024 · €3.5m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 17,811 companies that looked in July 2024 the way this one looks now, 0.3% went bankrupt within 24 months and 96.5% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.3%
went bankrupt
3.2%
stopped otherwise
96.5%
still going
For this company itself Checked computes a bankruptcy probability of < 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,475 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 17,811 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | - | €10.7m | €11.2m | €11.4m | ▲ 2.2% |
| Turnover70 | - | - | - | - | €10.3m | €10.6m | €10.9m | ▲ 2.4% |
| Other operating income74 | - | - | - | - | €0.4m | €0.5m | €0.5m | ▲ 0.2% |
| Non-recurring operating income76A | - | - | - | - | €0.003m | €0.01m | €0.004m | ▼ 62.7% |
| Operating charges60/66A | - | - | - | - | €6.2m | €6.2m | €6.5m | ▲ 4.8% |
| Goods for resale, raw materials and consumables60 | - | - | - | - | €0.8m | €0.9m | €1.1m | ▲ 22.7% |
| Purchases600/8 | - | - | - | - | €0.8m | €0.9m | €1.1m | ▲ 22.7% |
| Services and other goods61 | - | - | - | - | €1.5m | €1.6m | €1.7m | ▲ 8.8% |
| Remuneration, social security and pensions62 | - | - | - | €3.0m | €3.5m | €3.5m | €3.3m | ▼ 6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.2m | €0.2m | €0.3m | €0.3m | €0.3m | €0.2m | €0.2m | ▼ 20.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | - | €0.3m | - |
| Other operating charges640/8 | - | - | - | €0.01m | €0.01m | €0.03m | €0.02m | ▼ 49.1% |
| Non-recurring operating charges66A | - | - | - | - | €0.007m | - | - | - |
| Gross operating margin9900 | €3.9m | €4.7m | €8.1m | €8.6m | - | - | - | - |
| Operating profit (loss)9901 | €2.3m | €2.7m | €5.1m | €5.3m | €4.5m | €4.9m | €4.9m | ▼ 0.9% |
| Financial income75/76B | - | - | - | €0.007m | €0.05m | €0.007m | €0.007m | ▼ 3.1% |
| Recurring financial income75 | €0.02m | €0.02m | €0.01m | €0.007m | €0.05m | €0.007m | €0.006m | ▼ 22.3% |
| Income from financial fixed assets750 | - | - | - | - | €0.006m | €0.004m | €0.004m | ▼ 14.3% |
| Income from current assets751 | - | - | - | - | €0.05m | €0.003m | €0.002m | ▼ 25.5% |
| Other financial income752/9 | - | - | - | - | €28 | €308 | €7 | ▼ 97.6% |
| Non-recurring financial income76B | - | - | - | - | - | - | €0.001m | - |
| Financial charges65/66B | - | - | - | €0.02m | €0.1m | €0.05m | €0.07m | ▲ 51.5% |
| Recurring financial charges65 | €0.001m | €0.001m | €0.006m | €0.02m | €0.1m | €0.05m | €0.07m | ▲ 51.5% |
| Debt charges650 | - | - | - | - | €0.07m | €0.06m | €0.07m | ▲ 19.6% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651 | - | - | - | - | €0.03m | -€0.01m | - | - |
| Other financial charges652/9 | - | - | - | - | €55 | €0.001m | €0.001m | ▲ 11.5% |
| Profit (loss) for the period before taxes9903 | €2.3m | €2.7m | €5.1m | €5.2m | €4.5m | €4.9m | €4.8m | ▼ 1.4% |
| Income taxes67/77 | €0.2m | €0.3m | €0.5m | €0.5m | €0.5m | €0.6m | €0.5m | ▼ 19.4% |
| Taxes670/3 | - | - | - | - | €0.5m | €0.6m | €0.5m | ▼ 19.4% |
| Profit (loss) for the period9904 | €2.2m | €2.4m | €4.6m | €4.7m | €4.0m | €4.3m | €4.3m | ▲ 1.2% |
| Profit (loss) for the period to be appropriated9905 | €2.2m | €2.4m | €4.6m | €4.7m | €4.0m | €4.3m | €4.3m | ▲ 1.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €4.3m | €5.0m | €7.4m | €10.3m | €5.2m | €8.0m | €9.4m | ▲ 17.0% |
| Fixed assets21/28 | €0.8m | €0.8m | €1.0m | €0.8m | €0.8m | €0.5m | €0.4m | ▼ 27.1% |
| Intangible fixed assets21 | €0.2m | €0.2m | €0.2m | €0.1m | €0.07m | €0.03m | €0.02m | ▼ 30.6% |
| Tangible fixed assets22/27 | €0.5m | €0.6m | €0.7m | €0.6m | €0.6m | €0.4m | €0.3m | ▼ 32.2% |
| Plant, machinery and equipment23 | - | - | - | €0.03m | €0.03m | €0.04m | €0.04m | ▲ 1.4% |
| Furniture and vehicles24 | - | - | - | €0.4m | €0.5m | €0.3m | €0.2m | ▼ 45.3% |
| Other tangible fixed assets26 | - | - | - | €0.1m | €0.08m | €0.05m | €0.07m | ▲ 24.8% |
| Financial fixed assets28 | €0.06m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Other financial fixed assets284/8 | - | - | - | - | €0.08m | €0.08m | €0.08m | = |
| Shares284 | - | - | - | - | €250 | €250 | €250 | = |
| Amounts receivable and cash guarantees285/8 | - | - | - | - | €0.08m | €0.08m | €0.08m | = |
| Current assets29/58 | €3.6m | €4.2m | €6.4m | €9.5m | €4.4m | €7.5m | €9.0m | ▲ 20.2% |
| Amounts receivable after more than one year29 | - | - | - | €0.3m | €0.3m | €0.2m | €0.2m | ▼ 8.7% |
| Other amounts receivable291 | - | - | - | €0.3m | €0.3m | €0.2m | €0.2m | ▼ 8.7% |
| Amounts receivable within one year40/41 | €2.7m | €2.7m | €2.9m | €2.3m | €2.9m | €3.0m | €2.8m | ▼ 7.8% |
| Trade receivables40 | - | - | - | €2.3m | €2.8m | €3.0m | €2.7m | ▼ 9.1% |
| Other amounts receivable41 | - | - | - | €0.03m | €0.08m | €0.03m | €0.06m | ▲ 136% |
| Current investments50/53 | €0.9m | - | - | - | €0.2m | €0.2m | €0.2m | ▲ 0.6% |
| Other investments51/53 | - | - | - | - | €0.2m | €0.2m | €0.2m | ▲ 0.6% |
| Cash at bank and in hand54/58 | - | €1.5m | €3.5m | €6.9m | €1.1m | €4.0m | €5.8m | ▲ 44.3% |
| Deferred charges and accrued income490/1 | - | - | - | €0.01m | €0.02m | €0.02m | €0.01m | ▼ 8.7% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €4.3m | €5.0m | €7.4m | €10.3m | €5.2m | €8.0m | €9.4m | ▲ 17.0% |
| Equity10/15 | €2.0m | €2.0m | €2.5m | €3.7m | €1.5m | €1.7m | €3.3m | ▲ 94.8% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €1.9m | €1.9m | €2.4m | €3.6m | €1.5m | €1.6m | €3.3m | ▲ 98.4% |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Distributable reserves133 | - | - | - | €3.6m | €1.5m | €1.6m | €3.3m | ▲ 98.8% |
| Amounts payable17/49 | €2.3m | €3.0m | €4.9m | €6.6m | €3.7m | €6.3m | €6.1m | ▼ 3.9% |
| Amounts payable within one year42/48 | €2.3m | €3.0m | €4.9m | €6.5m | €3.6m | €6.3m | €5.9m | ▼ 6.3% |
| Financial debts43 | - | - | - | - | €191 | - | - | - |
| Credit institutions430/8 | - | - | - | - | €191 | - | - | - |
| Trade debts44 | €0.2m | €0.3m | €0.2m | €0.3m | €0.2m | €0.2m | €0.4m | ▲ 100% |
| Suppliers440/4 | - | - | - | €0.3m | €0.2m | €0.2m | €0.4m | ▲ 100% |
| Taxes, remuneration and social security45 | - | - | - | €0.4m | €0.7m | €0.8m | €0.7m | ▼ 10.7% |
| Taxes450/3 | - | - | - | €0.1m | €0.003m | €0.1m | €0.004m | ▼ 96.6% |
| Remuneration and social security454/9 | - | - | - | €0.3m | €0.7m | €0.7m | €0.7m | ▲ 5.6% |
| Other amounts payable47/48 | - | - | - | €5.8m | €2.7m | €5.2m | €4.7m | ▼ 10.0% |
| Accrued charges and deferred income492/3 | - | - | - | €0.09m | €0.05m | €0.07m | €0.2m | ▲ 195% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2.2m | €2.4m | €4.6m | €4.7m | €4.0m | €4.3m | €4.3m | ▲ 1.2% |
| + Depreciation and write-downs630 | €0.2m | €0.2m | €0.3m | €0.3m | €0.3m | €0.2m | €0.2m | ▼ 20.9% |
| Operating cash flow (approximation) | €2.4m | €2.6m | €4.9m | €5.0m | €4.3m | €4.5m | €4.5m | = |
| Investment in fixed assets (approximation) | - | -€0.3m | -€0.4m | -€0.1m | -€0.3m | -€0.03m | -€0.05m | ▼ 57.7% |
| Change in cash | - | - | €2.0m | €3.4m | -€5.8m | €2.9m | €1.8m | ▼ 39.5% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 11 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-06-2025 | full format | 21-01-2026 | 2026-00011078 |
| 30-06-2024 | full format | 14-01-2025 | 2025-00004794 |
| 30-06-2023 | full format | 18-01-2024 | 2024-00003142 |
| 30-06-2022 | abbreviated format | 12-01-2023 | 2023-20557350 |
| 30-06-2021 | abbreviated format | 12-01-2022 | 2022-00800179 |
| 30-06-2020 | abbreviated format | 19-01-2021 | 2021-01100567 |
| 30-06-2019 | abbreviated format | 13-01-2020 | 2020-00900010 |
| 30-06-2018 | abbreviated format | 31-01-2019 | 2019-03800467 |
| 30-06-2017 | abbreviated format | 31-01-2018 | 2018-03600530 |
| 30-06-2016 | abbreviated format | 19-01-2017 | 2017-01700468 |
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Subsidies and aid
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Public contracts
2 awards · 2025 to 2026
Amendment 2 to the Framework Contract OC/EFSA/MESE/2023/03: Assistance on R programming, shiny applications, ad-hoc support and statistical programming trainings to EFSA
Assistance for statistical analyses and related data management, using conventional and Artificial Intelligence methodology, and for training and ad hoc advice upon request
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. Values as the buyer published them; for a framework agreement, a ceiling.