OPTIMO
ActiveFinancials · financial year 2025, full format
2025 annual accounts filed 28 days after the deadline Filed on 28 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00503657.
Annual accounts 2025 filed on 28-08-2026 at the NBB all 37 filings
Turnover
€0
2023 · €0
EBIT margin
Not included in this filing
Net result
€6,985▼ 39.7%
2024 · €11,580
Working capital
-€246,892▼ 0.8%
2024 · -€244,904
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
€13,818
▼ 33.8%
2025
20182025
Net result
€6,985
▼ 39.7%
2025
20182025
Equity
€191,552
▲ 3.8%
2025
20182025
Total assets
€527,311
▼ 5.3%
2025
20182025
Debt
€335,759
▼ 9.8%
2025
20182025
Working capital
-€246,892
▼ 0.8%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€0€0
Operating result€6,615-€12,287▲ 85.7%€13,269▲ 8.0%-€6,471€14,975€10,202▼ 31.9%€20,875▲ 105%€13,818▼ 33.8%
Net result-€4,459-€4,889€5,302▲ 8.5%-€12,683€7,116€3,226▼ 54.7%€11,580▲ 259%€6,985▼ 39.7%
Equity€165,138-€170,027▲ 3.0%€175,329▲ 3.1%€162,646▼ 7.2%€169,762▲ 4.4%€172,987▲ 1.9%€184,567▲ 6.7%€191,552▲ 3.8%
Total assets€692,232-€659,277▼ 4.8%€634,750▼ 3.7%€588,466▼ 7.3%€640,400▲ 8.8%€589,097▼ 8.0%€556,917▼ 5.5%€527,311▼ 5.3%
Debt€527,094-€489,250▼ 7.2%€459,421▼ 6.1%€425,820▼ 7.3%€470,638▲ 10.5%€416,109▼ 11.6%€372,350▼ 10.5%€335,759▼ 9.8%
Working capital-€274,221--€276,148▼ 0.7%-€283,489▼ 2.7%-€265,792▲ 6.2%-€255,400▲ 3.9%-€245,383▲ 3.9%-€244,904▲ 0.2%-€246,892▼ 0.8%
The operating result for 2025 is 34% lower than in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €527,311
Fixed assets
€512,134 ▼ 6.8%
Current assets
€15,177 ▲ 110%
Equity and liabilities €527,311
Equity
€191,552 ▲ 3.8%
Debt
€335,759 ▼ 9.8%
Debt's share of the balance-sheet total falls from 66.9% to 63.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€55,753▼
2024 · €61,433
Cash flow
€48,920▼
2024 · €52,137
Current ratio
0.06▲
2024 · 0.03
Debt to equity
1.75▼
2024 · 2.02
ROE
3.6%▼
2024 · 6.3%
ROA
1.3%▼
2024 · 2.1%
Interest coverage
14.98▲
2024 · 13.60
Debt ≤ 1 year
€262,069▲
2024 · €252,131
Debt > 1 year
€73,190▼
2024 · €119,319
Income taxes
€2,994▼
2024 · €4,777
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 | €0 | €90,689 | €9,152 | €11,907 | €4,380 |
| Depreciation and write-downs of the year | €52,461 | €42,380 | €53,594 | €40,558 | €41,935 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | - | €0 | €0 | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | - | €0 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €52,581 | €46,920 | €48,633 | €52,461 | €42,380 | €53,594 | €40,558 | €41,935 | ▲ 3.4% |
| Other operating charges640/8 | - | - | - | €17,827 | €17,812 | €21,885 | €12,691 | €31,839 | ▲ 151% |
| Gross operating margin9900 | €75,300 | €76,162 | €77,340 | €63,816 | €75,167 | €85,680 | €74,124 | €87,592 | ▲ 18.2% |
| Operating profit (loss)9901 | €6,615 | €12,287 | €13,269 | -€6,471 | €14,975 | €10,202 | €20,875 | €13,818 | ▼ 33.8% |
| Financial income75/76B | - | - | - | €52 | €0 | - | €0 | €1 | ▲ 27× |
| Recurring financial income75 | €65 | €760 | €23 | €52 | €0 | - | €0 | €1 | ▲ 27× |
| Financial charges65/66B | - | - | - | €6,265 | €7,722 | €5,196 | €4,518 | €3,840 | ▼ 15.0% |
| Recurring financial charges65 | €11,139 | €6,707 | €5,645 | €5,731 | €7,654 | €5,045 | €4,518 | €3,721 | ▼ 17.6% |
| Non-recurring financial charges66B | - | - | - | €534 | €68 | €151 | - | €119 | - |
| Profit (loss) for the period before taxes9903 | -€4,459 | €6,173 | €7,647 | -€12,683 | €7,253 | €5,005 | €16,357 | €9,979 | ▼ 39.0% |
| Income taxes67/77 | - | €1,284 | €2,344 | - | €137 | €1,780 | €4,777 | €2,994 | ▼ 37.3% |
| Profit (loss) for the period9904 | -€4,459 | €4,889 | €5,302 | -€12,683 | €7,116 | €3,226 | €11,580 | €6,985 | ▼ 39.7% |
| Profit (loss) for the period to be appropriated9905 | -€4,459 | €4,889 | €5,302 | -€12,683 | €7,116 | €3,226 | €11,580 | €6,985 | ▼ 39.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €692,232 | €659,277 | €634,750 | €588,466 | €640,400 | €589,097 | €556,917 | €527,311 | ▼ 5.3% |
| Fixed assets21/28 | €670,255 | €639,361 | €626,933 | €574,472 | €622,781 | €578,340 | €549,689 | €512,134 | ▼ 6.8% |
| Tangible fixed assets22/27 | €670,255 | €639,361 | €626,783 | €574,322 | €622,631 | €578,190 | €549,539 | €511,984 | ▼ 6.8% |
| Land and buildings22 | - | - | - | €369,925 | €430,276 | €392,792 | €369,729 | €346,666 | ▼ 6.2% |
| Plant, machinery and equipment23 | - | - | - | €94 | €0 | €744 | €571 | €398 | ▼ 30.3% |
| Furniture and vehicles24 | - | - | - | €836 | €81 | €0 | €7,585 | €5,555 | ▼ 26.8% |
| Other tangible fixed assets26 | - | - | - | €203,467 | €192,274 | €184,654 | €171,654 | €159,365 | ▼ 7.2% |
| Financial fixed assets28 | - | - | €150 | €150 | €150 | €150 | €150 | €150 | = |
| Current assets29/58 | €21,978 | €19,915 | €7,818 | €13,995 | €17,618 | €10,757 | €7,227 | €15,177 | ▲ 110% |
| Amounts receivable within one year40/41 | €1,500 | €5,500 | €0 | €2,500 | €2,500 | €2,500 | €0 | €0 | - |
| Trade receivables40 | - | - | - | €2,500 | €2,500 | €2,500 | €0 | - | - |
| Other amounts receivable41 | - | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Cash at bank and in hand54/58 | €16,267 | €12,675 | €4,507 | €10,014 | €13,371 | €5,872 | €5,672 | €12,556 | ▲ 121% |
| Deferred charges and accrued income490/1 | - | - | - | €1,481 | €1,747 | €2,385 | €1,556 | €2,621 | ▲ 68.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €692,232 | €659,277 | €634,750 | €588,466 | €640,400 | €589,097 | €556,917 | €527,311 | ▼ 5.3% |
| Equity10/15 | €165,138 | €170,027 | €175,329 | €162,646 | €169,762 | €172,987 | €184,567 | €191,552 | ▲ 3.8% |
| Contributions10/11 | €148,736 | €148,736 | €148,736 | €148,736 | €148,736 | €148,736 | €148,736 | €148,736 | = |
| Capital10 | - | - | - | €148,736 | €148,736 | €148,736 | €148,736 | €148,736 | = |
| Issued capital100 | - | - | - | €148,736 | €148,736 | €148,736 | €148,736 | €148,736 | = |
| Reserves13 | €16,310 | €21,291 | €26,593 | €13,910 | €21,026 | €24,251 | €35,831 | €42,816 | ▲ 19.5% |
| Non-distributable reserves130/1 | - | - | - | €1,500 | €1,500 | €1,500 | €1,500 | €1,500 | = |
| Legal reserve130 | - | - | - | €1,500 | €1,500 | €1,500 | €1,500 | €1,500 | = |
| Distributable reserves133 | - | - | - | €12,410 | €19,526 | €22,751 | €34,331 | €41,316 | ▲ 20.3% |
| Profit (loss) carried forward14 | €93 | €0 | - | €0 | - | - | - | - | - |
| Amounts payable17/49 | €527,094 | €489,250 | €459,421 | €425,820 | €470,638 | €416,109 | €372,350 | €335,759 | ▼ 9.8% |
| Amounts payable after more than one year17 | €230,896 | €192,032 | €166,615 | €145,509 | €197,619 | €159,969 | €119,319 | €73,190 | ▼ 38.7% |
| Financial debts170/4 | - | - | - | €129,589 | €181,358 | €143,708 | €105,249 | €65,960 | ▼ 37.3% |
| Other amounts payable178/9 | - | - | - | €15,920 | €16,261 | €16,261 | €14,070 | €7,230 | ▼ 48.6% |
| Amounts payable within one year42/48 | €296,198 | €296,063 | €291,306 | €279,786 | €273,019 | €256,140 | €252,131 | €262,069 | ▲ 3.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €22,455 | €36,859 | €37,650 | €38,460 | €39,289 | ▲ 2.2% |
| Trade debts44 | €322 | €2,327 | €12,779 | €10,432 | €11,880 | €1,174 | €1,065 | €9,074 | ▲ 752% |
| Suppliers440/4 | - | - | - | €10,432 | €11,880 | €1,174 | €1,065 | €9,074 | ▲ 752% |
| Taxes, remuneration and social security45 | - | - | - | €2,344 | €137 | €1,917 | €6,557 | €7,771 | ▲ 18.5% |
| Taxes450/3 | - | - | - | €2,344 | €137 | €1,917 | €6,557 | €7,771 | ▲ 18.5% |
| Other amounts payable47/48 | - | - | - | €244,554 | €224,142 | €215,399 | €206,050 | €205,936 | ▼ 0.1% |
| Accrued charges and deferred income492/3 | - | - | - | €525 | €0 | - | €900 | €500 | ▼ 44.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,459 | €4,889 | €5,302 | -€12,683 | €7,116 | €3,226 | €11,580 | €6,985 | ▼ 39.7% |
| + Depreciation and write-downs630 | €52,581 | €46,920 | €48,633 | €52,461 | €42,380 | €53,594 | €40,558 | €41,935 | ▲ 3.4% |
| Operating cash flow (approximation) | €48,122 | €51,808 | €53,936 | €39,777 | €49,496 | €56,819 | €52,137 | €48,920 | ▼ 6.2% |
| Investment in fixed assets (approximation) | - | -€16,026 | -€36,204 | €0 | -€90,689 | -€9,152 | -€11,907 | -€4,380 | ▲ 63.2% |
| Change in cash | - | -€3,592 | -€8,169 | €5,507 | €3,358 | -€7,499 | -€200 | €6,884 | - |
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, 14,766 companies had the same profile as OPTIMO has now. Two years later, 96.2% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
96.2%
was still going
3.5%
stopped otherwise
0.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of OPTIMO itself: 0.1% 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 14,766 companies, not a prediction for OPTIMO. 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 37 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 28-08-2026 | 2026-00503657 | |
| 31-12-2024 | full format | 28-08-2025 | 2025-00482222 | |
| 31-12-2023 | full format | 30-08-2024 | 2024-00442051 | |
| 31-12-2022 | full format | 30-08-2023 | 2023-00424809 | |
| 31-12-2021 | full format | 26-08-2022 | 2022-20387278 | |
| 31-12-2020 | full format | 31-08-2021 | 2021-64200362 | |
| 31-12-2019 | full format | 31-08-2020 | 2020-49400590 | |
| 31-12-2018 | full format | 30-08-2019 | 2019-59000068 | |
| 31-12-2017 | full format | 30-08-2018 | 2018-58100322 | |
| 31-12-2016 | full format | 30-08-2017 | 2017-55400425 |