PARTNER
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, 2026-00495375.
Annual accounts 2025 filed on 28-08-2026 at the NBB all 39 filings
Turnover
€26.0m▲ 1.2%
2024 · €25.7m
EBIT margin
2.8%▲ 1.3pp
2024 · 1.4%
Net result
€506,089▲ 128%
2024 · €222,100
Working capital
€3.4m▲ 1.8%
2024 · €3.4m
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€26.0m
▲ 1.2%
2025
20182025
Operating result
€718,942
▲ 96.8%
2025
20182025
Net result
€506,089
▲ 128%
2025
middle half of the sector
20182025
EBIT margin
2.8%
▲ 1.3pp
2025
20182025
Equity
€4.0m
▼ 5.5%
2025
middle half of the sector
20182025
Total assets
€11.0m
▼ 5.3%
2025
middle half of the sector
20182025
Debt
€7.0m
▼ 5.2%
2025
20182025
Working capital
€3.4m
▲ 1.8%
2025
middle half of the sector
20182025
Solvency
36.3%
▼ 0.1pp
2025
middle half of the sector
20182025
Current ratio
1.53
▲ 0.05
2025
middle half of the sector
20182025
Return on assets (ROA)
4.6%
▲ 2.7pp
2025
middle half of the sector
20182025
Staff (FTE)
35.3
▲ 9.0%
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€18.9m-€19.5m▲ 3.2%€20.8m▲ 6.5%€20.8m=€22.7m▲ 9.1%€25.3m▲ 11.6%€25.7m▲ 1.4%€26.0m▲ 1.2%
Operating result€0.5m-€0.6m▲ 8.7%€0.9m▲ 56.3%€0.9m▼ 1.1%€0.6m▼ 27.8%€0.6m▼ 13.8%€0.4m▼ 34.6%€0.7m▲ 96.8%
Net result€0.3m-€0.4m▲ 14.2%€0.6mabove the sector's middle half▲ 73.8%€0.7mabove the sector's middle half▲ 3.1%€0.5mwithin the sector's middle half▼ 28.7%€0.4mwithin the sector's middle half▼ 14.7%€0.2mwithin the sector's middle half▼ 44.8%€0.5mwithin the sector's middle half▲ 128%
EBIT margin2.8%-3.0%▲ 0.2pp4.4%▲ 1.4pp4.3%=2.9%▼ 1.5pp2.2%▼ 0.7pp1.4%▼ 0.8pp2.8%▲ 1.3pp
Equity€1.9m-€1.8m▼ 1.7%€2.5mwithin the sector's middle half▲ 34.8%€3.1mwithin the sector's middle half▲ 26.2%€3.6mwithin the sector's middle half▲ 14.7%€4.0mwithin the sector's middle half▲ 10.9%€4.2mwithin the sector's middle half▲ 5.6%€4.0mwithin the sector's middle half▼ 5.5%
Total assets€8.5m-€7.9m▼ 7.0%€7.8mwithin the sector's middle half▼ 1.3%€8.0mwithin the sector's middle half▲ 2.4%€9.7mwithin the sector's middle half▲ 21.2%€11.3mwithin the sector's middle half▲ 15.7%€11.6mwithin the sector's middle half▲ 2.9%€11.0mwithin the sector's middle half▼ 5.3%
Debt€6.7m-€6.1m▼ 8.5%€5.4m▼ 12.2%€4.9m▼ 8.6%€6.1m▲ 25.4%€7.3m▲ 18.5%€7.4m▲ 1.4%€7.0m▼ 5.2%
Working capital€1.6m-€1.4m▼ 9.4%€2.0mwithin the sector's middle half▲ 44.2%€2.6mwithin the sector's middle half▲ 27.7%€3.0mwithin the sector's middle half▲ 16.5%€3.2mwithin the sector's middle half▲ 5.4%€3.4mwithin the sector's middle half▲ 5.5%€3.4mwithin the sector's middle half▲ 1.8%
Solvency21.9%-23.2%▲ 1.3pp31.7%within the sector's middle half▲ 8.5pp39.0%within the sector's middle half▲ 7.4pp36.9%within the sector's middle half▼ 2.1pp35.4%within the sector's middle half▼ 1.5pp36.3%within the sector's middle half▲ 0.9pp36.3%within the sector's middle half▼ 0.1pp
Current ratio1.24-1.24=1.38within the sector's middle half▲ 0.151.53within the sector's middle half▲ 0.151.51within the sector's middle half▼ 0.021.45within the sector's middle half▼ 0.061.48within the sector's middle half▲ 0.031.53within the sector's middle half▲ 0.05
Return on assets (ROA)3.8%-4.6%▲ 0.9pp8.2%within the sector's middle half▲ 3.5pp8.2%within the sector's middle half▲ 0.1pp4.8%within the sector's middle half▼ 3.4pp3.6%within the sector's middle half▼ 1.3pp1.9%within the sector's middle half▼ 1.7pp4.6%within the sector's middle half▲ 2.7pp
Staff (FTE)36.1-37.1▲ 2.8%36.2above the sector's middle half▼ 2.4%34.8above the sector's middle half▼ 3.9%34.1above the sector's middle half▼ 2.0%33.6above the sector's middle half▼ 1.5%32.4above the sector's middle half▼ 3.6%35.3above the sector's middle half▲ 9.0%
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 97% higher than in 2024. It is a recovery after the fall in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €11.0m
Fixed assets
€1.0m ▼ 6.8%
Current assets
€9.9m ▼ 5.1%
Equity and liabilities €11.0m
Equity
€4.0m ▼ 5.5%
Debt
€7.0m ▼ 5.2%
Debt's share of the balance-sheet total rises from 63.7% to 63.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€1.0m▲
2024 · €655,935
Cash flow
€833,311▲
2024 · €512,804
Quick ratio
0.91▼
2024 · 0.91
Debt to equity
1.76▲
2024 · 1.75
ROE
12.7%▲
2024 · 5.3%
Interest coverage
8.51▲
2024 · 3.73
Debt ≤ 1 year
€6.5m▼
2024 · €7.1m
Debt > 1 year
€159,048▼
2024 · €275,384
Income taxes
€203,066▲
2024 · €110,341
Customer credit
81 days▼
2024 · 84 days
Supplier credit
63 days▼
2024 · 67 days
Staff costs
€2.5m▲
2024 · €2.4m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 35 | 37 | 33 | 36 | 39 |
| full-time | 29 | 31 | 27 | 28 | 30 |
| part-time | 6 | 6 | 6 | 8 | 9 |
| in full-time equivalents | 33 | 34.4 | 31.2 | 33.3 | 36.7 |
| Average over the year, in full-time equivalents | 34.8 | 34.1 | 33.6 | 32.4 | 35.3 |
| On a permanent contract | 35 | 36 | 33 | 34 | 38 |
| Joined | 2 | 15 | 17 | 27 | 18 |
| Left | 3 | 13 | 21 | 24 | 15 |
| Agency workers, average number | 0.1 | 0.6 | 1.7 | 2.4 | 0.4 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €1.7m | €2.2m | €2.7m | €3.1m | €2.3m |
| Mortgages, amount registered | €503,762 | €181,500 | €181,500 | €181,500 | €181,500 |
| Carrying value of the mortgaged assets | €164,024 | €409,666 | €468,059 | €382,985 | €318,018 |
| Pledge on the business | €264,000 | - | - | - | - |
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 | €126,746 | €469,521 | €387,727 | €122,283 | €111,225 |
| Intangible fixed assets | €25,225 | €18,615 | €47,912 | €306,586 | €51,917 |
| Depreciation and write-downs of the year | €162,055 | €221,160 | €266,073 | €290,704 | €327,222 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Auditor
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Fee for the audit | €11,000 | €12,000 | €12,600 | €13,000 | €13,300 |
| Other work by the auditor | €750 | - | €1,000 | - | €5,350 |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Subsidies and aid
Flemish government
2022 to 2025 · 6 entries · €128,120 awarded · €128,120 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 2 | €37,294 | €37,558 |
| 2024 | 2 | €34,404 | €34,140 |
| 2023 | 1 | €33,066 | €33,066 |
| 2022 | 1 | €23,356 | €23,356 |
Federal government
2025 · 1 entry · €7,593 in total| Year | Department | Transactions | Amount |
|---|---|---|---|
| 2025 | FOD Binnenlandse Zaken | 1 | €7,593 |
Public contracts
11 awards · 2024 to 2026
QMMO25-3740 - Raamovereenkomst voor de levering van wegwerp persoonlijke beschermingskledij en wegwerphandschoenen voor gebruik in animalia en laboratoria voor de vzw Associatie KU Leuven, STUK Kunstencentrum en UZ Leuven: QMMO25-3740 - 1
Raamovereenkomst voor het leveren van persoonlijke beschermingsmiddelen: Veiligheidsschoenen
Raamovereenkomst voor de levering en het onderhoud van veiligheidskledij, werkkledij en persoonlijke beschermingsmiddelen met logistieke ontzorging
Raamovereenkomst voor het leveren van werkkledij en signalisatiekledij: PPP0B3-13714/4912/B11104 - 2
Raamovereenkomst werkhandschoenen: 2024-9-054 - 1
Show 6 more contracts
Valbeveiligingsmaterialen: 0000719366_Attribution - 1
Valbeveiligingsmaterialen: 0000719366_Attribution - 2
PBM voetbeveiliging deel 2: FLU24L012 - Toebehoren
PBM Voetbeveiliging: FLU22L021 - Hoge veiligheidsschoenen
PBM Voetbeveiliging: FLU22L021 - Lage veiligheidsschoenen
Aankoop op afroep van beroeps- en signalisatiekledij, veiligheids- en beroepsschoenen en PBM's: PBM's
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €20.9m | €22.8m | €25.4m | €25.8m | €26.1m | ▲ 1.3% |
| Turnover70 | €18.9m | €19.5m | €20.8m | €20.8m | €22.7m | €25.3m | €25.7m | €26.0m | ▲ 1.2% |
| Other operating income74 | - | - | - | €0.07m | €0.08m | €0.09m | €0.07m | €0.08m | ▲ 21.5% |
| Non-recurring operating income76A | - | - | - | €0.004m | €0.02m | €0.007m | €0.005m | - | - |
| Operating charges60/66A | - | - | - | €20.0m | €22.2m | €24.9m | €25.4m | €25.4m | ▼ 0.1% |
| Goods for resale, raw materials and consumables60 | - | - | - | €16.0m | €17.7m | €19.9m | €19.9m | €20.3m | ▲ 2.0% |
| Purchases600/8 | - | - | - | €16.0m | €18.3m | €20.8m | €19.7m | €20.3m | ▲ 2.9% |
| Change in stocks: decrease (increase)609 | - | - | - | €0.04m | -€0.6m | -€1.0m | €0.2m | €0.03m | ▼ 83.4% |
| Services and other goods61 | - | - | - | €1.7m | €1.9m | €2.3m | €2.6m | €2.3m | ▼ 13.0% |
| Remuneration, social security and pensions62 | - | - | - | €2.1m | €2.2m | €2.4m | €2.4m | €2.5m | ▲ 5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | €0.3m | €0.3m | ▲ 12.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €0.06m | €0.008m | €0.2m | -€0.06m | - |
| Other operating charges640/8 | - | - | - | €0.01m | €0.02m | €0.03m | €0.03m | €0.03m | ▲ 0.4% |
| Non-recurring operating charges66A | - | - | - | - | €0.03m | €0.006m | €0.001m | - | - |
| Operating profit (loss)9901 | €0.5m | €0.6m | €0.9m | €0.9m | €0.6m | €0.6m | €0.4m | €0.7m | ▲ 96.8% |
| Financial income75/76B | - | - | - | €0.08m | €0.09m | €0.2m | €0.2m | €0.1m | ▼ 17.2% |
| Recurring financial income75 | €0.06m | €0.07m | €0.06m | €0.08m | €0.09m | €0.2m | €0.2m | €0.1m | ▼ 17.2% |
| Income from financial fixed assets750 | - | - | - | - | €0.005m | €0.06m | - | - | - |
| Income from current assets751 | - | - | - | €0.004m | €0.005m | €0.006m | €0.007m | €0.006m | ▼ 10.9% |
| Other financial income752/9 | - | - | - | €0.07m | €0.08m | €0.09m | €0.1m | €0.1m | ▼ 17.6% |
| Financial charges65/66B | - | - | - | €0.05m | €0.07m | €0.1m | €0.2m | €0.1m | ▼ 26.5% |
| Recurring financial charges65 | €0.1m | €0.09m | €0.08m | €0.05m | €0.07m | €0.1m | €0.2m | €0.1m | ▼ 26.5% |
| Debt charges650 | €0.08m | €0.07m | €0.07m | €0.04m | €0.05m | €0.1m | €0.2m | €0.1m | ▼ 30.1% |
| Other financial charges652/9 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.02m | ▲ 26.3% |
| Profit (loss) for the period before taxes9903 | €0.5m | €0.6m | €0.9m | €0.9m | €0.7m | €0.6m | €0.3m | €0.7m | ▲ 113% |
| Income taxes67/77 | €0.2m | €0.2m | €0.3m | €0.3m | €0.2m | €0.2m | €0.1m | €0.2m | ▲ 84.0% |
| Taxes670/3 | - | - | - | €0.3m | €0.2m | €0.2m | €0.1m | €0.2m | ▲ 84.0% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €1 | - | - | - | - | - |
| Profit (loss) for the period9904 | €0.3m | €0.4m | €0.6m | €0.7m | €0.5m | €0.4m | €0.2m | €0.5m | ▲ 128% |
| Transfer from tax-exempt reserves789 | - | - | - | €0.2m | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €0.3m | €0.4m | €0.6m | €0.9m | €0.5m | €0.4m | €0.2m | €0.5m | ▲ 128% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €8.5m | €7.9m | €7.8m | €8.0m | €9.7m | €11.3m | €11.6m | €11.0m | ▼ 5.3% |
| Fixed assets21/28 | €0.4m | €0.5m | €0.5m | €0.5m | €0.8m | €1.0m | €1.1m | €1.0m | ▼ 6.8% |
| Intangible fixed assets21 | €0.005m | €0.03m | €0.07m | €0.07m | €0.06m | €0.08m | €0.3m | €0.3m | ▼ 16.5% |
| Tangible fixed assets22/27 | €0.4m | €0.4m | €0.3m | €0.3m | €0.6m | €0.7m | €0.6m | €0.5m | ▼ 16.8% |
| Land and buildings22 | - | - | - | €0.2m | - | - | - | - | - |
| Plant, machinery and equipment23 | - | - | - | €0.06m | €0.1m | €0.1m | €0.08m | €0.05m | ▼ 32.7% |
| Furniture and vehicles24 | - | - | - | €0.03m | €0.05m | €0.1m | €0.2m | €0.2m | ▼ 9.2% |
| Other tangible fixed assets26 | - | - | - | €0.06m | €0.4m | €0.5m | €0.4m | €0.3m | ▼ 17.0% |
| Financial fixed assets28 | €0.05m | €0.05m | €0.06m | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 55.6% |
| Other financial fixed assets284/8 | - | - | - | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 55.6% |
| Amounts receivable and cash guarantees285/8 | - | - | - | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 55.6% |
| Current assets29/58 | €8.1m | €7.4m | €7.4m | €7.5m | €8.9m | €10.3m | €10.5m | €9.9m | ▼ 5.1% |
| Stocks and contracts in progress3 | €3.2m | €2.6m | €2.8m | €2.8m | €3.3m | €4.3m | €4.0m | €4.0m | ▲ 0.7% |
| Stocks30/36 | - | - | - | €2.8m | €3.3m | €4.3m | €4.0m | €4.0m | ▲ 0.7% |
| Goods purchased for resale34 | - | - | - | €2.8m | €3.3m | €4.3m | €4.0m | €4.0m | ▲ 0.7% |
| Amounts receivable within one year40/41 | €4.7m | €4.5m | €4.5m | €4.5m | €5.4m | €5.8m | €6.4m | €5.9m | ▼ 8.8% |
| Trade receivables40 | - | - | - | €4.1m | €5.0m | €5.3m | €5.9m | €5.8m | ▼ 2.6% |
| Other amounts receivable41 | - | - | - | €0.4m | €0.4m | €0.5m | €0.5m | €0.09m | ▼ 81.8% |
| Cash at bank and in hand54/58 | €0.2m | €0.3m | €0.04m | €0.2m | €0.2m | €0.2m | €0.06m | €0.04m | ▼ 34.6% |
| Deferred charges and accrued income490/1 | - | - | - | €178 | €0.008m | €0.006m | - | €0.02m | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €8.5m | €7.9m | €7.8m | €8.0m | €9.7m | €11.3m | €11.6m | €11.0m | ▼ 5.3% |
| Equity10/15 | €1.9m | €1.8m | €2.5m | €3.1m | €3.6m | €4.0m | €4.2m | €4.0m | ▼ 5.5% |
| Contributions10/11 | €0.5m | €0.5m | - | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Reserves13 | €1.4m | €1.3m | €1.9m | €2.5m | €3.0m | €3.3m | €3.6m | €3.3m | ▼ 6.7% |
| Non-distributable reserves130/1 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves not available under the articles1311 | - | - | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Other1319 | - | - | - | €0.005m | €0.005m | €0.005m | €0.005m | €0.005m | = |
| Tax-exempt reserves132 | - | - | - | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | = |
| Distributable reserves133 | - | - | - | €2.4m | €2.9m | €3.2m | €3.5m | €3.2m | ▼ 6.9% |
| Profit (loss) carried forward14 | €0.001m | €0.005m | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | ▲ 12.6% |
| Amounts payable17/49 | €6.7m | €6.1m | €5.4m | €4.9m | €6.1m | €7.3m | €7.4m | €7.0m | ▼ 5.2% |
| Amounts payable after more than one year17 | €0.1m | €0.09m | €0.02m | - | €0.2m | €0.2m | €0.3m | €0.2m | ▼ 42.2% |
| Financial debts170/4 | - | - | - | - | €0.2m | €0.2m | €0.3m | €0.2m | ▼ 42.2% |
| Credit institutions173 | - | - | - | - | €0.2m | €0.2m | €0.3m | €0.2m | ▼ 42.2% |
| Amounts payable within one year42/48 | €6.5m | €6.0m | €5.3m | €4.9m | €5.9m | €7.1m | €7.1m | €6.5m | ▼ 8.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.02m | €0.05m | €0.06m | €0.1m | €0.1m | ▲ 3.9% |
| Financial debts43 | - | - | - | €1.7m | €1.9m | €2.4m | €2.8m | €2.0m | ▼ 27.4% |
| Credit institutions430/8 | - | - | - | €1.7m | €1.9m | €2.4m | €2.8m | €2.0m | ▼ 27.4% |
| Trade debts44 | €3.1m | €2.6m | €2.7m | €2.6m | €3.3m | €4.2m | €3.7m | €3.5m | ▼ 3.8% |
| Suppliers440/4 | - | - | - | €2.6m | €3.3m | €4.2m | €3.7m | €3.5m | ▼ 3.8% |
| Taxes, remuneration and social security45 | - | - | - | €0.6m | €0.6m | €0.4m | €0.6m | €0.6m | ▲ 0.4% |
| Taxes450/3 | - | - | - | €0.3m | €0.3m | €0.1m | €0.3m | €0.2m | ▼ 14.4% |
| Remuneration and social security454/9 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 14.9% |
| Other amounts payable47/48 | - | - | - | €0.01m | €0.01m | €0.01m | - | €0.3m | - |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | - | €0.3m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €323,011 | €368,969 | €641,364 | €661,087 | €471,287 | €402,080 | €222,100 | €506,089 | ▲ 128% |
| + Depreciation and write-downs630 | €125,784 | €153,708 | €160,287 | €162,055 | €221,160 | €266,073 | €290,704 | €327,222 | ▲ 12.6% |
| Operating cash flow (approximation) | €448,795 | €522,678 | €801,651 | €823,142 | €692,447 | €668,153 | €512,804 | €833,311 | ▲ 62.5% |
| Investment in fixed assets (approximation) | - | -€221,631 | -€113,990 | -€223,051 | -€485,420 | -€433,426 | -€439,308 | -€251,198 | ▲ 42.8% |
| Change in cash | - | €91,939 | -€216,210 | €144,846 | €26,919 | €21,473 | -€173,911 | -€21,551 | ▲ 87.6% |
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 PARTNER 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 PARTNER 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 14,766 companies, not a prediction for PARTNER. 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 39 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 28-08-2026 | 2026-00495375 | |
| 31-12-2024 | full format | 29-08-2025 | 2025-00482475 | |
| 31-12-2023 | full format | 30-08-2024 | 2024-00442309 | |
| 31-12-2022 | full format | 18-08-2023 | 2023-00338027 | |
| 31-12-2021 | full format | 16-08-2022 | 2022-20292486 | |
| 31-12-2020 | full format | 31-08-2021 | 2021-62200267 | |
| 31-12-2019 | full format | 06-10-2020 | 2020-59400572 | |
| 31-12-2018 | full format | 19-07-2019 | 2019-35500353 | |
| 31-12-2017 | full format | 28-09-2018 | 2018-66700480 | |
| 31-12-2016 | full format | 11-08-2017 | 2017-43100148 |