OSTEOLANE
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-06-2026 at the NBB all 18 filings
Turnover
≈ €180,000
Estimated: probably between €120,000 and €310,000
Total assets
€248,724▼ 2.8%
2024 · €256,006
Net result
€22,015▼ 15.9%
2024 · €26,177
Working capital
€165,396▲ 15.2%
2024 · €143,544
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€34,307
▼ 12.7%
2025
20192025
Net result
€22,015
▼ 15.9%
2025
20192025
Equity
€186,897
▲ 13.4%
2025
20192025
Total assets
€248,724
▼ 2.8%
2025
20192025
Debt
€61,827
▼ 32.2%
2025
20192025
Working capital
€165,396
▲ 15.2%
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€30,842-€18,768▼ 39.1%€36,770▲ 95.9%€51,591▲ 40.3%€43,286▼ 16.1%€39,294▼ 9.2%€34,307▼ 12.7%
Net result€15,146-€5,605▼ 63.0%€21,935▲ 291%€28,200▲ 28.6%€28,353▲ 0.5%€26,177▼ 7.7%€22,015▼ 15.9%
Equity€78,662-€83,467▲ 6.1%€100,152▲ 20.0%€122,352▲ 22.2%€144,705▲ 18.3%€164,882▲ 13.9%€186,897▲ 13.4%
Total assets€297,099-€280,610▼ 5.6%€282,457▲ 0.7%€280,425▼ 0.7%€262,927▼ 6.2%€256,006▼ 2.6%€248,724▼ 2.8%
Debt€218,437-€197,143▼ 9.7%€182,305▼ 7.5%€158,073▼ 13.3%€118,222▼ 25.2%€91,124▼ 22.9%€61,827▼ 32.2%
Working capital€42,556-€71,461▲ 67.9%€64,989▼ 9.1%€98,655▲ 51.8%€124,953▲ 26.7%€143,544▲ 14.9%€165,396▲ 15.2%
The operating result for 2025 is 13% lower than in 2024 and the lowest since 2021. It is the third fall in a row.
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
Assets €248,724
Fixed assets
€53,146 ▼ 29.5%
Current assets
€195,578 ▲ 8.3%
Equity and liabilities €248,724
Equity
€186,897 ▲ 13.4%
Debt
€61,827 ▼ 32.2%
Debt's share of the balance-sheet total falls from 35.6% to 24.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€58,417▼
2024 · €64,388
Cash flow
€46,125▼
2024 · €51,271
Current ratio
6.48▲
2024 · 4.87
Debt to equity
0.33▼
2024 · 0.55
ROE
11.8%▼
2024 · 15.9%
ROA
8.9%▼
2024 · 10.2%
Interest coverage
15.34▲
2024 · 13.15
Debt ≤ 1 year
€30,182▼
2024 · €37,106
Debt > 1 year
€28,970▼
2024 · €53,768
Income taxes
€8,933▲
2024 · €8,724
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-11-2022 | 30-11-2023 | 30-11-2024 | 30-11-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €2,124 | - | - | €1,900 |
| Depreciation and write-downs of the year | €52,668 | €25,571 | €25,094 | €24,110 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €24,432 | €25,264 | €29,887 | €52,668 | €25,571 | €25,094 | €24,110 | ▼ 3.9% |
| Other operating charges640/8 | - | - | - | €2,427 | €1,235 | €1,285 | €1,431 | ▲ 11.4% |
| Gross operating margin9900 | €56,352 | €45,130 | €73,821 | €106,686 | €70,092 | €65,673 | €59,848 | ▼ 8.9% |
| Operating profit (loss)9901 | €30,842 | €18,768 | €36,770 | €51,591 | €43,286 | €39,294 | €34,307 | ▼ 12.7% |
| Financial income75/76B | - | - | - | €0 | €11 | €503 | €450 | ▼ 10.5% |
| Recurring financial income75 | €201 | - | - | €0 | €11 | €503 | €450 | ▼ 10.5% |
| Financial charges65/66B | - | - | - | €12,329 | €5,948 | €4,896 | €3,809 | ▼ 22.2% |
| Recurring financial charges65 | €10,990 | €9,955 | €8,683 | €12,329 | €5,948 | €4,896 | €3,809 | ▼ 22.2% |
| Profit (loss) for the period before taxes9903 | €20,053 | €8,813 | €28,087 | €39,263 | €37,349 | €34,901 | €30,948 | ▼ 11.3% |
| Income taxes67/77 | €4,907 | €3,208 | €6,152 | €11,062 | €8,996 | €8,724 | €8,933 | ▲ 2.4% |
| Profit (loss) for the period9904 | €15,146 | €5,605 | €21,935 | €28,200 | €28,353 | €26,177 | €22,015 | ▼ 15.9% |
| Profit (loss) for the period to be appropriated9905 | €15,146 | €5,605 | €21,935 | €28,200 | €28,353 | €26,177 | €22,015 | ▼ 15.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €297,099 | €280,610 | €282,457 | €280,425 | €262,927 | €256,006 | €248,724 | ▼ 2.8% |
| Fixed assets21/28 | €223,613 | €178,468 | €179,305 | €128,761 | €100,450 | €75,356 | €53,146 | ▼ 29.5% |
| Tangible fixed assets22/27 | €200,113 | €178,468 | €179,305 | €128,761 | €100,450 | €75,356 | €53,146 | ▼ 29.5% |
| Land and buildings22 | - | - | - | €122,188 | €98,177 | €74,406 | €51,432 | ▼ 30.9% |
| Furniture and vehicles24 | - | - | - | €6,573 | €2,273 | €950 | €1,714 | ▲ 80.4% |
| Financial fixed assets28 | €23,500 | - | - | - | - | - | - | - |
| Current assets29/58 | €73,486 | €102,142 | €103,152 | €151,664 | €162,477 | €180,650 | €195,578 | ▲ 8.3% |
| Amounts receivable after more than one year29 | - | - | - | €50,000 | €60,000 | €60,000 | €60,000 | = |
| Other amounts receivable291 | - | - | - | €50,000 | €60,000 | €60,000 | €60,000 | = |
| Amounts receivable within one year40/41 | €22,141 | €23,501 | €6,597 | €8,350 | €3,363 | €1,030 | €2,829 | ▲ 175% |
| Trade receivables40 | - | - | - | €3,990 | - | - | €1,127 | - |
| Other amounts receivable41 | - | - | - | €4,360 | €3,363 | €1,030 | €1,702 | ▲ 65.2% |
| Current investments50/53 | - | - | - | - | - | €60,000 | €68,800 | ▲ 14.7% |
| Cash at bank and in hand54/58 | €33,414 | €37,932 | €36,003 | €76,439 | €89,179 | €51,306 | €58,326 | ▲ 13.7% |
| Deferred charges and accrued income490/1 | - | - | - | €16,876 | €9,935 | €8,314 | €5,623 | ▼ 32.4% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €297,099 | €280,610 | €282,457 | €280,425 | €262,927 | €256,006 | €248,724 | ▼ 2.8% |
| Equity10/15 | €78,662 | €83,467 | €100,152 | €122,352 | €144,705 | €164,882 | €186,897 | ▲ 13.4% |
| Contributions10/11 | €6,200 | - | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €71,310 | €76,110 | €92,710 | €114,710 | €136,710 | €156,710 | €178,710 | ▲ 14.0% |
| Tax-exempt reserves132 | - | - | - | €30,850 | €30,850 | €30,850 | €30,850 | = |
| Distributable reserves133 | - | - | - | €83,860 | €105,860 | €125,860 | €147,860 | ▲ 17.5% |
| Profit (loss) carried forward14 | €1,152 | €1,157 | €1,242 | €1,442 | €1,795 | €1,972 | €1,987 | ▲ 0.8% |
| Amounts payable17/49 | €218,437 | €197,143 | €182,305 | €158,073 | €118,222 | €91,124 | €61,827 | ▼ 32.2% |
| Amounts payable after more than one year17 | €187,257 | €166,212 | €143,892 | €104,813 | €79,881 | €53,768 | €28,970 | ▼ 46.1% |
| Financial debts170/4 | - | - | - | €104,813 | €79,881 | €53,768 | €28,970 | ▼ 46.1% |
| Amounts payable within one year42/48 | €30,930 | €30,681 | €38,163 | €53,010 | €37,524 | €37,106 | €30,182 | ▼ 18.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €30,776 | €26,302 | €28,466 | €27,189 | ▼ 4.5% |
| Trade debts44 | €1,449 | €1,596 | €1,359 | €3,921 | €722 | €1,667 | €667 | ▼ 60.0% |
| Suppliers440/4 | - | - | - | €3,921 | €722 | €1,667 | €667 | ▼ 60.0% |
| Advances received on contracts in progress46 | - | - | - | €8,000 | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €4,312 | €4,500 | €973 | €1,500 | ▲ 54.2% |
| Taxes450/3 | - | - | - | €4,312 | €1,500 | €973 | €1,500 | ▲ 54.2% |
| Remuneration and social security454/9 | - | - | - | - | €3,000 | - | - | - |
| Other amounts payable47/48 | - | - | - | €6,000 | €6,000 | €6,000 | €826 | ▼ 86.2% |
| Accrued charges and deferred income492/3 | - | - | - | €250 | €817 | €250 | €2,675 | ▲ 970% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,146 | €5,605 | €21,935 | €28,200 | €28,353 | €26,177 | €22,015 | ▼ 15.9% |
| + Depreciation and write-downs630 | €24,432 | €25,264 | €29,887 | €52,668 | €25,571 | €25,094 | €24,110 | ▼ 3.9% |
| Operating cash flow (approximation) | €39,578 | €30,869 | €51,822 | €80,868 | €53,924 | €51,271 | €46,125 | ▼ 10.0% |
| Investment in fixed assets (approximation) | - | €19,881 | -€30,724 | -€2,123 | €2,740 | €0 | -€1,900 | - |
| Change in cash | - | €4,518 | -€1,929 | €40,436 | €12,740 | -€37,873 | €7,020 | - |
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 OSTEOLANE 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 OSTEOLANE 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 34,693 companies, not a prediction for OSTEOLANE. 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 18 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-11-2025 | micro format | 30-06-2026 | 2026-00220630 | |
| 30-11-2024 | micro format | 26-06-2025 | 2025-00191448 | |
| 30-11-2023 | micro format | 28-06-2024 | 2024-00184967 | |
| 30-11-2022 | micro format | 30-06-2023 | 2023-00199578 | |
| 31-03-2021 | micro format | 30-11-2021 | 2021-78700458 | |
| 31-03-2020 | micro format | 12-11-2020 | 2020-70400326 | |
| 31-03-2019 | micro format | 30-10-2019 | 2019-72300352 | |
| 31-03-2018 | micro format | 24-09-2018 | 2018-64000591 | |
| 31-03-2017 | micro format | 13-11-2017 | 2017-69500452 | |
| 31-03-2016 | full format | 21-10-2016 | 2016-66000008 |