OPTIMA - PLUS
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 10-04-2026 PDF all 17 filings
Turnover
≈ €24,000
Estimated: probably between €11,000 and €59,000
Total assets
€21,933▼ 27.2%
2024 · €30,119
Net result
€663▼ 66.0%
2024 · €1,951
Working capital
€9,736▲ 7.3%
2024 · €9,073
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€1,371
▼ 34.1%
2025
20212025
Net result
€663
▼ 66.0%
2025
middle half of the sector
20212025
Equity
€9,736
▲ 7.3%
2025
middle half of the sector
20212025
Total assets
€21,933
▼ 27.2%
2025
lowest quarter of the sector
20212025
Debt
€12,197
▼ 42.0%
2025
20212025
Working capital
€9,736
▲ 7.3%
2025
middle half of the sector
20212025
Solvency
44.4%
▲ 14.3pp
2025
middle half of the sector
20212025
Current ratio
1.80
▲ 0.37
2025
middle half of the sector
20212025
Return on assets (ROA)
3.0%
▼ 3.5pp
2025
middle half of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result€10,763--€4,375-€6,168▼ 41.0%€2,080€1,371▼ 34.1%
Net result€10,326within the sector's middle half--€4,386below the sector's middle half-€6,517below the sector's middle half▼ 48.6%€1,951within the sector's middle half€663within the sector's middle half▼ 66.0%
Equity€18,025within the sector's middle half-€13,639within the sector's middle half▼ 24.3%€7,122within the sector's middle half▼ 47.8%€9,073within the sector's middle half▲ 27.4%€9,736within the sector's middle half▲ 7.3%
Total assets€27,150below the sector's middle half-€32,025below the sector's middle half▲ 18.0%€24,163below the sector's middle half▼ 24.5%€30,119below the sector's middle half▲ 24.6%€21,933below the sector's middle half▼ 27.2%
Debt€9,126-€18,386▲ 101%€17,041▼ 7.3%€21,046▲ 23.5%€12,197▼ 42.0%
Working capital€18,025within the sector's middle half-€13,639within the sector's middle half▼ 24.3%€7,122within the sector's middle half▼ 47.8%€9,073within the sector's middle half▲ 27.4%€9,736within the sector's middle half▲ 7.3%
Solvency66.4%above the sector's middle half-42.6%within the sector's middle half▼ 23.8pp29.5%within the sector's middle half▼ 13.1pp30.1%within the sector's middle half▲ 0.6pp44.4%within the sector's middle half▲ 14.3pp
Current ratio2.98within the sector's middle half-1.74within the sector's middle half▼ 1.231.42within the sector's middle half▼ 0.321.43within the sector's middle half▲ 0.011.80within the sector's middle half▲ 0.37
Return on assets (ROA)38.0%above the sector's middle half--13.7%below the sector's middle half▼ 51.7pp-27.0%below the sector's middle half▼ 13.3pp6.5%within the sector's middle half▲ 33.4pp3.0%within the sector's middle half▼ 3.5pp
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 34% lower than 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
Equity and liabilities €21,933
Equity
€9,736 ▲ 7.3%
Debt
€12,197 ▼ 42.0%
Debt's share of the balance-sheet total falls from 69.9% to 55.6%. Equity is higher and debt is lower.
Key figures and ratios
Quick ratio
1.44▲
2024 · 1.30
Debt to equity
1.25▼
2024 · 2.32
ROE
6.8%▼
2024 · 21.5%
Debt ≤ 1 year
€12,197▼
2024 · €21,046
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | €565 | €723 | €518 | €998 | €528 | ▼ 47.2% |
| Gross operating margin9900 | €11,327 | -€3,651 | -€5,650 | €3,079 | €1,898 | ▼ 38.3% |
| Operating profit (loss)9901 | €10,763 | -€4,375 | -€6,168 | €2,080 | €1,371 | ▼ 34.1% |
| Financial income75/76B | €29 | €75 | €367 | €510 | €552 | ▲ 8.1% |
| Recurring financial income75 | €29 | €75 | €367 | €510 | €552 | ▲ 8.1% |
| Financial charges65/66B | €466 | €86 | €717 | €640 | €1,259 | ▲ 96.7% |
| Recurring financial charges65 | €466 | €86 | €717 | €640 | €1,259 | ▲ 96.7% |
| Profit (loss) for the period before taxes9903 | €10,326 | -€4,386 | -€6,517 | €1,951 | €663 | ▼ 66.0% |
| Profit (loss) for the period9904 | €10,326 | -€4,386 | -€6,517 | €1,951 | €663 | ▼ 66.0% |
| Profit (loss) for the period to be appropriated9905 | €10,326 | -€4,386 | -€6,517 | €1,951 | €663 | ▼ 66.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €27,150 | €32,025 | €24,163 | €30,119 | €21,933 | ▼ 27.2% |
| Current assets29/58 | €27,150 | €32,025 | €24,163 | €30,119 | €21,933 | ▼ 27.2% |
| Stocks and contracts in progress3 | €2,015 | €2,125 | €1,183 | €2,750 | €4,373 | ▲ 59.0% |
| Stocks30/36 | €2,015 | €2,125 | €1,183 | €2,750 | €4,373 | ▲ 59.0% |
| Amounts receivable within one year40/41 | €11,904 | €16,373 | €14,750 | €17,741 | €14,483 | ▼ 18.4% |
| Trade receivables40 | €11,090 | €10,515 | €6,708 | €0 | €886 | - |
| Other amounts receivable41 | €814 | €5,858 | €8,042 | €17,741 | €13,598 | ▼ 23.4% |
| Cash at bank and in hand54/58 | €13,231 | €13,527 | €8,079 | €9,474 | €2,922 | ▼ 69.2% |
| Deferred charges and accrued income490/1 | - | - | €151 | €154 | €154 | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €27,150 | €32,025 | €24,163 | €30,119 | €21,933 | ▼ 27.2% |
| Equity10/15 | €18,025 | €13,639 | €7,122 | €9,073 | €9,736 | ▲ 7.3% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €3,506 | €7,439 | €922 | €2,873 | €3,536 | ▲ 23.1% |
| Non-distributable reserves130/1 | €131 | €131 | €131 | €131 | €131 | = |
| Reserves not available under the articles1311 | €131 | €131 | €131 | €131 | €131 | = |
| Tax-exempt reserves132 | €1,120 | - | - | - | - | - |
| Distributable reserves133 | €2,255 | €7,308 | €791 | €2,742 | €3,405 | ▲ 24.2% |
| Profit (loss) carried forward14 | €8,319 | €0 | - | - | - | - |
| Amounts payable17/49 | €9,126 | €18,386 | €17,041 | €21,046 | €12,197 | ▼ 42.0% |
| Amounts payable within one year42/48 | €9,126 | €18,386 | €17,041 | €21,046 | €12,197 | ▼ 42.0% |
| Trade debts44 | €9,126 | €17,843 | €15,946 | €11,813 | €10,420 | ▼ 11.8% |
| Suppliers440/4 | €9,126 | €17,843 | €15,946 | €11,813 | €10,420 | ▼ 11.8% |
| Advances received on contracts in progress46 | - | €0 | - | €9,233 | €1,568 | ▼ 83.0% |
| Taxes, remuneration and social security45 | - | €543 | €1,096 | €0 | €209 | - |
| Taxes450/3 | - | €543 | €1,096 | €0 | €209 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,326 | -€4,386 | -€6,517 | €1,951 | €663 | ▼ 66.0% |
| Operating cash flow (approximation) | €10,326 | -€4,386 | -€6,517 | €1,951 | €663 | ▼ 66.0% |
| Change in cash | - | €295 | -€5,447 | €1,395 | -€6,552 | - |
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, 17,041 companies had the same profile as OPTIMA - PLUS has now. Two years later, 94.3% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
94.3%
was still going
4.9%
stopped otherwise
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of OPTIMA - PLUS itself: 0.2% 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 17,041 companies, not a prediction for OPTIMA - PLUS. 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 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 10-04-2026 | 2026-00076541 | |
| 30-09-2024 | micro format | 04-04-2025 | 2025-00063371 | |
| 30-09-2023 | micro format | 29-04-2024 | 2024-00072662 | |
| 30-09-2022 | micro format | 27-04-2023 | 2023-00069691 | |
| 30-09-2021 | micro format | 21-04-2022 | 2022-20005246 | |
| 30-09-2018 | micro format | 02-05-2019 | 2019-12100059 | |
| 30-09-2017 | micro format | 04-05-2018 | 2018-12000477 | |
| 30-09-2016 | abbreviated format | 17-05-2017 | 2017-12300003 | |
| 30-09-2015 | abbreviated format | 27-04-2016 | 2016-10800231 | |
| 30-09-2014 | abbreviated format | 20-04-2015 | 2015-10000175 |