OSTIL
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 60 days after the deadline Filed on 29 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00530444.
Annual accounts 2025 filed on 29-09-2026 at the NBB all 19 filings
Turnover
≈ €130,000
Estimated: probably between €91,000 and €220,000
Total assets
€172,148▼ 1.1%
2024 · €174,052
Net result
€6,451▲ 32×
2024 · €200
Working capital
€26,720▲ 40.0%
2024 · €19,087
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€10,536
▲ 312%
2025
20182025
Net result
€6,451
▲ 32×
2025
lowest quarter of the sector
20182025
Equity
€155,341
▲ 4.3%
2025
middle half of the sector
20182025
Total assets
€172,148
▼ 1.1%
2025
middle half of the sector
20182025
Debt
€16,806
▼ 33.2%
2025
20182025
Working capital
€26,720
▲ 40.0%
2025
middle half of the sector
20182025
Solvency
90.2%
▲ 4.7pp
2025
highest quarter of the sector
20182025
Current ratio
3.18
▲ 0.80
2025
middle half of the sector
20182025
Return on assets (ROA)
3.7%
▲ 3.6pp
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€28,468-€26,919▼ 5.4%€19,357▼ 28.1%€16,536▼ 14.6%€17,021▲ 2.9%€5,292▼ 68.9%€2,557▼ 51.7%€10,536▲ 312%
Net result€13,431-€16,023▲ 19.3%€10,992below the sector's middle half▼ 31.4%€9,415below the sector's middle half▼ 14.3%€10,049below the sector's middle half▲ 6.7%€1,818below the sector's middle half▼ 81.9%€200below the sector's middle half▼ 89.0%€6,451below the sector's middle half▲ 32×
Equity€133,494-€116,416▼ 12.8%€127,408within the sector's middle half▲ 9.4%€136,823within the sector's middle half▲ 7.4%€146,872within the sector's middle half▲ 7.3%€148,690within the sector's middle half▲ 1.2%€148,890within the sector's middle half▲ 0.1%€155,341within the sector's middle half▲ 4.3%
Total assets€256,935-€250,664▼ 2.4%€206,204within the sector's middle half▼ 17.7%€195,997within the sector's middle half▼ 5.0%€189,607within the sector's middle half▼ 3.3%€185,260within the sector's middle half▼ 2.3%€174,052within the sector's middle half▼ 6.1%€172,148within the sector's middle half▼ 1.1%
Debt€123,442-€134,248▲ 8.8%€78,797▼ 41.3%€59,174▼ 24.9%€42,735▼ 27.8%€36,570▼ 14.4%€25,162▼ 31.2%€16,806▼ 33.2%
Working capital€30,160-€3,877▼ 87.1%€5,128below the sector's middle half▲ 32.3%€4,165below the sector's middle half▼ 18.8%€14,176below the sector's middle half▲ 240%€17,574within the sector's middle half▲ 24.0%€19,087within the sector's middle half▲ 8.6%€26,720within the sector's middle half▲ 40.0%
Solvency52.0%-46.4%▼ 5.5pp61.8%within the sector's middle half▲ 15.3pp69.8%within the sector's middle half▲ 8.0pp77.5%within the sector's middle half▲ 7.7pp80.3%within the sector's middle half▲ 2.8pp85.5%above the sector's middle half▲ 5.3pp90.2%above the sector's middle half▲ 4.7pp
Current ratio1.73-1.06▼ 0.671.16below the sector's middle half▲ 0.111.17below the sector's middle half▲ 0.011.94within the sector's middle half▲ 0.772.03within the sector's middle half▲ 0.092.38within the sector's middle half▲ 0.343.18within the sector's middle half▲ 0.80
Return on assets (ROA)5.2%-6.4%▲ 1.2pp5.3%below the sector's middle half▼ 1.1pp4.8%below the sector's middle half▼ 0.5pp5.3%below the sector's middle half▲ 0.5pp1.0%below the sector's middle half▼ 4.3pp0.1%below the sector's middle half▼ 0.9pp3.7%below the sector's middle half▲ 3.6pp
above
within
below
The sector band is the middle half of the companies in Human health activities (NACE 86). 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 4.1 times that of 2024. It is a recovery after the fall 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
Assets €172,148
Fixed assets
€133,145 ▼ 5.6%
Current assets
€39,002 ▲ 18.3%
Equity and liabilities €172,148
Equity
€155,341 ▲ 4.3%
Debt
€16,806 ▼ 33.2%
Debt's share of the balance-sheet total falls from 14.5% to 9.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€19,755▲
2024 · €12,155
Cash flow
€15,670▲
2024 · €9,798
Debt to equity
0.11▼
2024 · 0.17
ROE
4.2%▲
2024 · 0.1%
Interest coverage
16.58▲
2024 · 7.28
Debt ≤ 1 year
€12,282▼
2024 · €13,872
Debt > 1 year
€2,494▼
2024 · €11,240
Income taxes
€2,894▲
2024 · €687
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Mortgages, amount registered | €32,000 | €32,000 | €32,000 | €32,000 | €32,000 |
| Mortgage mandates | - | - | - | €177,500 | €177,500 |
| Carrying value of the mortgaged assets | €163,397 | €155,378 | €147,451 | €139,593 | €131,752 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €7,186 | €2,018 | - | - | €1,278 |
| Financial fixed assets | €6 | €8 | €8 | - | €0 |
| Depreciation and write-downs of the year | €8,678 | €9,587 | €9,668 | €9,598 | €9,219 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 · 1 entry · €232 awarded · €232 paidAnnual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,076 | €7,959 | €7,849 | €8,678 | €9,587 | €9,668 | €9,598 | €9,219 | ▼ 4.0% |
| Other operating charges640/8 | - | - | - | €1,323 | €1,204 | €1,267 | €1,447 | €1,427 | ▼ 1.4% |
| Gross operating margin9900 | €37,514 | €35,916 | €28,367 | €26,537 | €27,812 | €16,227 | €13,602 | €21,182 | ▲ 55.7% |
| Operating profit (loss)9901 | €28,468 | €26,919 | €19,357 | €16,536 | €17,021 | €5,292 | €2,557 | €10,536 | ▲ 312% |
| Financial income75/76B | - | - | - | €0 | - | €5 | €0 | €0 | - |
| Recurring financial income75 | - | - | €0 | €0 | - | €5 | €0 | €0 | - |
| Financial charges65/66B | - | - | - | €3,226 | €2,327 | €1,890 | €1,670 | €1,191 | ▼ 28.7% |
| Recurring financial charges65 | €5,371 | €4,925 | €4,072 | €3,226 | €2,327 | €1,890 | €1,670 | €1,191 | ▼ 28.7% |
| Profit (loss) for the period before taxes9903 | €22,727 | €21,994 | €15,285 | €13,310 | €14,694 | €3,408 | €887 | €9,345 | ▲ 954% |
| Income taxes67/77 | €9,296 | €5,971 | €4,293 | €3,895 | €4,645 | €1,589 | €687 | €2,894 | ▲ 321% |
| Profit (loss) for the period9904 | €13,431 | €16,023 | €10,992 | €9,415 | €10,049 | €1,818 | €200 | €6,451 | ▲ 32× |
| Profit (loss) for the period to be appropriated9905 | €13,431 | €16,023 | €10,992 | €9,415 | €10,049 | €1,818 | €200 | €6,451 | ▲ 32× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €256,935 | €250,664 | €206,204 | €195,997 | €189,607 | €185,260 | €174,052 | €172,148 | ▼ 1.1% |
| Fixed assets21/28 | €185,237 | €177,273 | €169,421 | €167,935 | €160,361 | €150,690 | €141,092 | €133,145 | ▼ 5.6% |
| Tangible fixed assets22/27 | €185,220 | €177,261 | €169,412 | €167,920 | €160,352 | €150,684 | €141,086 | €133,145 | ▼ 5.6% |
| Land and buildings22 | - | - | - | €163,397 | €155,378 | €147,451 | €139,593 | €131,752 | ▼ 5.6% |
| Furniture and vehicles24 | - | - | - | €4,524 | €4,973 | €3,233 | €1,493 | €1,394 | ▼ 6.7% |
| Financial fixed assets28 | €17 | €12 | €9 | €15 | €9 | €6 | €6 | €0 | ▼ 100% |
| Current assets29/58 | €71,698 | €73,391 | €36,784 | €28,062 | €29,246 | €34,570 | €32,959 | €39,002 | ▲ 18.3% |
| Amounts receivable within one year40/41 | €64,703 | €66,769 | €29,047 | €23,703 | €23,017 | €27,615 | €28,448 | €31,015 | ▲ 9.0% |
| Trade receivables40 | - | - | - | €0 | - | €366 | €0 | €2,746 | - |
| Other amounts receivable41 | - | - | - | €23,703 | €23,017 | €27,249 | €28,448 | €28,269 | ▼ 0.6% |
| Cash at bank and in hand54/58 | €3,465 | €1,698 | €4,590 | €672 | €2,637 | €4,983 | €1,713 | €5,753 | ▲ 236% |
| Deferred charges and accrued income490/1 | - | - | - | €3,686 | €3,592 | €1,972 | €2,799 | €2,234 | ▼ 20.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €256,935 | €250,664 | €206,204 | €195,997 | €189,607 | €185,260 | €174,052 | €172,148 | ▼ 1.1% |
| Equity10/15 | €133,494 | €116,416 | €127,408 | €136,823 | €146,872 | €148,690 | €148,890 | €155,341 | ▲ 4.3% |
| Contributions10/11 | €44,150 | €13,550 | - | €13,550 | €13,550 | €13,550 | €13,550 | €13,550 | = |
| Reserves13 | €55,664 | €69,187 | €80,178 | €89,594 | €99,642 | €101,461 | €101,461 | €107,912 | ▲ 6.4% |
| Distributable reserves133 | - | - | - | €89,594 | €99,642 | €101,461 | €101,461 | €107,912 | ▲ 6.4% |
| Profit (loss) carried forward14 | €33,680 | €33,680 | €33,680 | €33,680 | €33,680 | €33,680 | €33,879 | €33,879 | = |
| Amounts payable17/49 | €123,442 | €134,248 | €78,797 | €59,174 | €42,735 | €36,570 | €25,162 | €16,806 | ▼ 33.2% |
| Amounts payable after more than one year17 | €81,234 | €64,452 | €46,894 | €35,089 | €27,518 | €19,575 | €11,240 | €2,494 | ▼ 77.8% |
| Financial debts170/4 | - | - | - | €35,089 | €27,518 | €19,575 | €11,240 | €2,494 | ▼ 77.8% |
| Amounts payable within one year42/48 | €41,538 | €69,514 | €31,656 | €23,897 | €15,070 | €16,995 | €13,872 | €12,282 | ▼ 11.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €14,412 | €9,284 | €9,693 | €10,106 | €10,531 | ▲ 4.2% |
| Trade debts44 | €333 | €2,443 | €4,649 | €5,122 | €5,705 | €7,196 | €3,684 | €1,675 | ▼ 54.5% |
| Suppliers440/4 | - | - | - | €5,122 | €5,705 | €7,196 | €3,684 | €1,675 | ▼ 54.5% |
| Taxes, remuneration and social security45 | - | - | - | €4,363 | €81 | €106 | €82 | €76 | ▼ 8.0% |
| Taxes450/3 | - | - | - | €4,363 | €81 | €106 | €82 | €76 | ▼ 8.0% |
| Remuneration and social security454/9 | - | - | - | €0 | - | - | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €188 | €147 | €0 | €49 | €2,030 | ▲ 41× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,431 | €16,023 | €10,992 | €9,415 | €10,049 | €1,818 | €200 | €6,451 | ▲ 32× |
| + Depreciation and write-downs630 | €8,076 | €7,959 | €7,849 | €8,678 | €9,587 | €9,668 | €9,598 | €9,219 | ▼ 4.0% |
| Operating cash flow (approximation) | €21,507 | €23,982 | €18,841 | €18,094 | €19,636 | €11,486 | €9,798 | €15,670 | ▲ 59.9% |
| Investment in fixed assets (approximation) | - | €5 | €4 | -€7,193 | -€2,012 | €3 | €0 | -€1,272 | - |
| Change in cash | - | -€1,767 | €2,893 | -€3,918 | €1,965 | €2,346 | -€3,270 | €4,041 | - |
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, 10,904 companies had the same profile as OSTIL has now. Two years later, 95.1% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
95.1%
was still going
4.0%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of OSTIL 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 10,904 companies, not a prediction for OSTIL. 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 19 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 29-09-2026 | 2026-00530444 | |
| 31-12-2024 | micro format | 31-10-2025 | 2025-00556893 | |
| 31-12-2023 | micro format | 30-09-2024 | 2024-00487636 | |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00406681 | |
| 31-12-2021 | micro format | 28-10-2022 | 2022-20477265 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-64400069 | |
| 31-12-2019 | micro format | 18-09-2020 | 2020-54000238 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-61100100 | |
| 31-12-2017 | micro format | 13-07-2018 | 2018-33500350 | |
| 31-12-2016 | micro format | 06-07-2017 | 2017-28800518 |