OPEN-FUTURE
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 07-04-2026 PDF all 16 filings
Turnover
≈ €2.5m
Estimated: probably between €1.9m and €3.6m
Total assets
€492,150▼ 17.8%
2024 · €599,061
Net result
-€9,434
2024 · €132,910
Working capital
€91,147▼ 17.7%
2024 · €110,744
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€4,626
▼ 97.5%
2025
20192025
Net result
-€9,434
2025
lowest quarter of the sector
20192025
Equity
€199,128
▼ 4.5%
2025
middle half of the sector
20192025
Total assets
€492,150
▼ 17.8%
2025
middle half of the sector
20192025
Debt
€293,023
▼ 25.0%
2025
20192025
Working capital
€91,147
▼ 17.7%
2025
middle half of the sector
20192025
Solvency
40.5%
▲ 5.6pp
2025
middle half of the sector
20192025
Current ratio
1.33
▲ 0.02
2025
middle half of the sector
20192025
Return on assets (ROA)
-1.9%
▼ 24.1pp
2025
lowest quarter of the sector
20192025
Staff (FTE)
11
▲ 13.4%
2025
highest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€182,494-€94,302▼ 48.3%-€5,837€96,168-€58,239€185,368€4,626▼ 97.5%
Net result€108,085-€53,748within the sector's middle half▼ 50.3%-€12,446below the sector's middle half€53,594within the sector's middle half-€61,846below the sector's middle half€132,910above the sector's middle half-€9,434below the sector's middle half
Equity€262,602-€316,350within the sector's middle half▲ 20.5%€303,904within the sector's middle half▼ 3.9%€357,498within the sector's middle half▲ 17.6%€255,652within the sector's middle half▼ 28.5%€208,562within the sector's middle half▼ 18.4%€199,128within the sector's middle half▼ 4.5%
Total assets€524,311-€413,161within the sector's middle half▼ 21.2%€417,704within the sector's middle half▲ 1.1%€528,907within the sector's middle half▲ 26.6%€501,810within the sector's middle half▼ 5.1%€599,061within the sector's middle half▲ 19.4%€492,150within the sector's middle half▼ 17.8%
Debt€261,709-€96,812▼ 63.0%€113,800▲ 17.5%€171,409▲ 50.6%€246,158▲ 43.6%€390,499▲ 58.6%€293,023▼ 25.0%
Working capital€251,742-€290,298within the sector's middle half▲ 15.3%€277,168within the sector's middle half▼ 4.5%€332,073within the sector's middle half▲ 19.8%€167,103within the sector's middle half▼ 49.7%€110,744within the sector's middle half▼ 33.7%€91,147within the sector's middle half▼ 17.7%
Solvency50.1%-76.6%above the sector's middle half▲ 26.5pp72.8%above the sector's middle half▼ 3.8pp67.6%above the sector's middle half▼ 5.2pp50.9%within the sector's middle half▼ 16.6pp34.8%within the sector's middle half▼ 16.1pp40.5%within the sector's middle half▲ 5.6pp
Current ratio1.96-4.00above the sector's middle half▲ 2.043.52within the sector's middle half▼ 0.472.94within the sector's middle half▼ 0.581.76within the sector's middle half▼ 1.181.31within the sector's middle half▼ 0.451.33within the sector's middle half▲ 0.02
Return on assets (ROA)20.6%-13.0%within the sector's middle half▼ 7.6pp-3.0%below the sector's middle half▼ 16.0pp10.1%within the sector's middle half▲ 13.1pp-12.3%below the sector's middle half▼ 22.5pp22.2%above the sector's middle half▲ 34.5pp-1.9%below the sector's middle half▼ 24.1pp
Staff (FTE)7-7within the sector's middle half=7.8within the sector's middle half▲ 11.4%8within the sector's middle half▲ 2.6%8.1within the sector's middle half▲ 1.3%9.7within the sector's middle half▲ 19.8%11above the sector's middle half▲ 13.4%
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 98% lower than in 2024.
Turnover and EBIT margin are not published. The abbreviated or 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 €492,150
Fixed assets
€126,842 ▼ 5.5%
Current assets
€365,308 ▼ 21.4%
Equity and liabilities €492,150
Equity
€199,128 ▼ 4.5%
Debt
€293,023 ▼ 25.0%
Debt's share of the balance-sheet total falls from 65.2% to 59.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€49,323▼
2024 · €222,503
Cash flow
€35,263▼
2024 · €170,045
Debt to equity
1.47▼
2024 · 1.87
ROE
-4.7%▼
2024 · 63.7%
Interest coverage
12.40▼
2024 · 41.29
Debt ≤ 1 year
€274,161▼
2024 · €354,120
Debt > 1 year
€18,861▼
2024 · €36,378
Income taxes
€11,255▼
2024 · €47,116
Staff costs
€990,231▲
2024 · €833,820
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 7 | 9 | 10 | 11 |
| full-time | 7 | 8 | 9 | 11 |
| part-time | - | 1 | 1 | 0 |
| in full-time equivalents | 7 | 8.9 | 9.9 | 11 |
| Average over the year, in full-time equivalents | 8 | 8.1 | 9.7 | 11 |
| On a permanent contract | 7 | 9 | 10 | 11 |
| Joined | 1 | 5 | 1 | 4 |
| Left | 2 | 3 | 0 | 3 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €8,060 | €113,664 | €55,413 | €37,343 |
| Depreciation and write-downs of the year | €12,994 | €23,518 | €37,135 | €44,697 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €75 awardedAnnual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €0.6m | €0.6m | €0.8m | €1.0m | ▲ 18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.006m | €0.008m | €0.01m | €0.01m | €0.02m | €0.04m | €0.04m | ▲ 20.4% |
| Gross operating margin9900 | €0.7m | €0.6m | €0.5m | €0.7m | €0.6m | €1.1m | €1.0m | ▼ 1.6% |
| Operating profit (loss)9901 | €0.2m | €0.09m | -€0.006m | €0.1m | -€0.06m | €0.2m | €0.005m | ▼ 97.5% |
| Financial income75/76B | - | - | - | - | €7 | €47 | €0.001m | ▲ 25× |
| Recurring financial income75 | €1 | €5 | - | - | €7 | €47 | €0.001m | ▲ 25× |
| Financial charges65/66B | - | - | - | €0.006m | €0.002m | €0.005m | €0.004m | ▼ 26.2% |
| Recurring financial charges65 | €0.001m | €0.001m | €0.001m | €0.006m | €0.002m | €0.005m | €0.004m | ▼ 26.2% |
| Profit (loss) for the period before taxes9903 | €0.2m | €0.09m | -€0.007m | €0.09m | -€0.06m | €0.2m | €0.002m | ▼ 99.0% |
| Income taxes67/77 | €0.07m | €0.04m | €0.005m | €0.04m | €0.002m | €0.05m | €0.01m | ▼ 76.1% |
| Profit (loss) for the period9904 | €0.1m | €0.05m | -€0.01m | €0.05m | -€0.06m | €0.1m | -€0.009m | - |
| Profit (loss) for the period to be appropriated9905 | €0.1m | €0.05m | -€0.01m | €0.05m | -€0.06m | €0.1m | -€0.009m | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €524,311 | €413,161 | €417,704 | €528,907 | €501,810 | €599,061 | €492,150 | ▼ 17.8% |
| Fixed assets21/28 | €10,859 | €26,052 | €30,706 | €25,772 | €115,919 | €134,197 | €126,842 | ▼ 5.5% |
| Tangible fixed assets22/27 | €10,859 | €26,052 | €30,706 | €25,772 | €115,919 | €134,197 | €126,842 | ▼ 5.5% |
| Furniture and vehicles24 | - | - | - | €17,621 | €102,672 | €122,596 | €98,729 | ▼ 19.5% |
| Other tangible fixed assets26 | - | - | - | €8,151 | €13,247 | €11,601 | €28,114 | ▲ 142% |
| Current assets29/58 | €513,451 | €387,110 | €386,997 | €503,134 | €385,891 | €464,864 | €365,308 | ▼ 21.4% |
| Amounts receivable within one year40/41 | €450,572 | €236,493 | €236,080 | €288,445 | €366,309 | €316,357 | €307,988 | ▼ 2.6% |
| Trade receivables40 | - | - | - | €288,445 | €357,918 | €313,473 | €250,052 | ▼ 20.2% |
| Other amounts receivable41 | - | - | - | - | €8,391 | €2,884 | €57,935 | ▲ 20× |
| Cash at bank and in hand54/58 | €59,704 | €144,394 | €149,183 | €208,206 | €13,699 | €132,034 | €47,832 | ▼ 63.8% |
| Deferred charges and accrued income490/1 | - | - | - | €6,484 | €5,883 | €16,472 | €9,489 | ▼ 42.4% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €524,311 | €413,161 | €417,704 | €528,907 | €501,810 | €599,061 | €492,150 | ▼ 17.8% |
| Equity10/15 | €262,602 | €316,350 | €303,904 | €357,498 | €255,652 | €208,562 | €199,128 | ▼ 4.5% |
| Contributions10/11 | €20,000 | - | - | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €222,000 | €275,748 | €275,748 | €329,342 | €287,342 | €107,342 | €107,342 | = |
| Non-distributable reserves130/1 | - | - | - | €2,000 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €2,000 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €327,342 | €287,342 | €107,342 | €107,342 | = |
| Profit (loss) carried forward14 | €20,602 | €20,602 | €8,156 | €8,156 | -€51,690 | €81,220 | €71,786 | ▼ 11.6% |
| Amounts payable17/49 | €261,709 | €96,812 | €113,800 | €171,409 | €246,158 | €390,499 | €293,023 | ▼ 25.0% |
| Amounts payable after more than one year17 | - | - | - | - | €27,370 | €36,378 | €18,861 | ▼ 48.2% |
| Financial debts170/4 | - | - | - | - | €27,370 | €36,378 | €18,861 | ▼ 48.2% |
| Amounts payable within one year42/48 | €261,709 | €96,812 | €109,829 | €171,062 | €218,788 | €354,120 | €274,161 | ▼ 22.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €9,169 | €16,855 | €17,517 | ▲ 3.9% |
| Trade debts44 | €173,816 | €28,393 | €22,485 | €88,308 | €86,540 | €75,154 | €91,866 | ▲ 22.2% |
| Suppliers440/4 | - | - | - | €88,308 | €86,540 | €75,154 | €91,866 | ▲ 22.2% |
| Taxes, remuneration and social security45 | - | - | - | €80,860 | €94,807 | €126,112 | €103,826 | ▼ 17.7% |
| Taxes450/3 | - | - | - | €12,283 | €15,789 | €24,287 | €0 | ▼ 100% |
| Remuneration and social security454/9 | - | - | - | €68,576 | €79,018 | €101,825 | €103,826 | ▲ 2.0% |
| Other amounts payable47/48 | - | - | - | €1,894 | €28,272 | €136,000 | €60,953 | ▼ 55.2% |
| Accrued charges and deferred income492/3 | - | - | - | €348 | €0 | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €108,085 | €53,748 | -€12,446 | €53,594 | -€61,846 | €132,910 | -€9,434 | - |
| + Depreciation and write-downs630 | €5,959 | €8,025 | €11,396 | €12,994 | €23,518 | €37,135 | €44,697 | ▲ 20.4% |
| Operating cash flow (approximation) | €114,044 | €61,773 | -€1,049 | €66,588 | -€38,328 | €170,045 | €35,263 | ▼ 79.3% |
| Investment in fixed assets (approximation) | - | -€23,218 | -€16,051 | -€8,060 | -€113,664 | -€55,413 | -€37,343 | ▲ 32.6% |
| Change in cash | - | €84,691 | €4,788 | €59,023 | -€194,507 | €118,335 | -€84,203 | - |
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, 2,686 companies had the same profile as OPEN-FUTURE has now. Two years later, 93.7% were still going and 0.6% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a small loss
93.7%
was still going
5.4%
stopped otherwise
0.6%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of OPEN-FUTURE 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 2,686 companies, not a prediction for OPEN-FUTURE. 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 16 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 07-04-2026 | 2026-00074952 | |
| 30-09-2024 | abbreviated format | 25-03-2025 | 2025-00054119 | |
| 30-09-2023 | abbreviated format | 03-04-2024 | 2024-00055176 | |
| 30-09-2022 | abbreviated format | 24-03-2023 | 2023-00045289 | |
| 30-09-2021 | abbreviated format | 15-03-2022 | 2022-07700036 | |
| 30-09-2020 | abbreviated format | 01-04-2021 | 2021-09800061 | |
| 30-09-2019 | micro format | 16-03-2020 | 2020-06700504 | |
| 30-09-2018 | micro format | 21-03-2019 | 2019-07500103 | |
| 30-09-2017 | micro format | 30-03-2018 | 2018-09100041 | |
| 30-09-2016 | abbreviated format | 14-04-2017 | 2017-09400495 |