PAUL ECTOR
ActiveFinancials · financial year 2025, abbreviated format
2025 annual accounts filed 5 days after the deadline Filed on 5 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00382601.
Annual accounts 2025 filed on 05-08-2026 at the NBB all 22 filings
Equity
€242,105▲ 1.5%
2024 · €238,543
Total assets
€243,642▲ 2.1%
2024 · €238,586
Net result
€3,562▲ 117%
2024 · €1,642
Working capital
€242,105▲ 1.5%
2024 · €238,543
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€3,063
2025
20182025
Net result
€3,562
▲ 117%
2025
middle half of the sector
20182025
Equity
€242,105
▲ 1.5%
2025
middle half of the sector
20182025
Total assets
€243,642
▲ 2.1%
2025
lowest quarter of the sector
20182025
Debt
€1,537
▲ 35×
2025
20182025
Working capital
€242,105
▲ 1.5%
2025
middle half of the sector
20182025
Solvency
99.4%
▼ 0.6pp
2025
highest quarter of the sector
20182025
Current ratio
no figure
2025
20182025
Return on assets (ROA)
1.5%
▲ 0.8pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€23,938-€15,125▼ 36.8%-€11,250€11,849€6,426▼ 45.8%€19,568▲ 204%€455▼ 97.7%-€3,063
Net result€15,106-€8,650▼ 42.7%-€11,532below the sector's middle half€9,519within the sector's middle half€5,178within the sector's middle half▼ 45.6%€10,743within the sector's middle half▲ 107%€1,642below the sector's middle half▼ 84.7%€3,562within the sector's middle half▲ 117%
Equity€214,342-€222,992▲ 4.0%€211,460within the sector's middle half▼ 5.2%€220,979within the sector's middle half▲ 4.5%€226,157within the sector's middle half▲ 2.3%€236,900within the sector's middle half▲ 4.8%€238,543within the sector's middle half▲ 0.7%€242,105within the sector's middle half▲ 1.5%
Total assets€237,225-€223,975▼ 5.6%€211,927within the sector's middle half▼ 5.4%€222,866within the sector's middle half▲ 5.2%€228,377within the sector's middle half▲ 2.5%€238,925within the sector's middle half▲ 4.6%€238,586within the sector's middle half▼ 0.1%€243,642below the sector's middle half▲ 2.1%
Debt€22,883-€983▼ 95.7%€467▼ 52.5%€1,887▲ 304%€2,220▲ 17.6%€2,025▼ 8.8%€43▼ 97.9%€1,537▲ 35×
Working capital€192,775-€210,989▲ 9.4%€208,766above the sector's middle half▼ 1.1%€220,979above the sector's middle half▲ 5.9%€226,157above the sector's middle half▲ 2.3%€236,900above the sector's middle half▲ 4.8%€238,543above the sector's middle half▲ 0.7%€242,105within the sector's middle half▲ 1.5%
Solvency90.4%-99.6%▲ 9.2pp99.8%above the sector's middle half▲ 0.2pp99.2%above the sector's middle half▼ 0.6pp99.0%above the sector's middle half▼ 0.1pp99.2%above the sector's middle half▲ 0.1pp100.0%above the sector's middle half▲ 0.8pp99.4%above the sector's middle half▼ 0.6pp
Current ratio9.42-
Return on assets (ROA)6.4%-3.9%▼ 2.5pp-5.4%below the sector's middle half▼ 9.3pp4.3%within the sector's middle half▲ 9.7pp2.3%within the sector's middle half▼ 2.0pp4.5%within the sector's middle half▲ 2.2pp0.7%below the sector's middle half▼ 3.8pp1.5%within the sector's middle half▲ 0.8pp
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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 a loss of €3,063, after a profit of €455 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €243,642
Equity
€242,105 ▲ 1.5%
Debt
€1,537 ▲ 35×
Debt's share of the balance-sheet total rises from 0.0% to 0.6%. Equity and debt are higher.
Key figures and ratios
Debt to equity
0.01▲
2024 · 0.00
ROE
1.5%▲
2024 · 0.7%
Debt ≤ 1 year
€1,537▲
2024 · €43
Income taxes
€53▼
2024 · €1,703
A ratio outside any meaningful range has been withheld (balance sheet total €243,642, equity €242,105).
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,651 | €9,564 | €9,309 | €2,694 | €0 | - | - | - | - |
| Other operating charges640/8 | - | - | - | €919 | €720 | €797 | €815 | €817 | ▲ 0.3% |
| Gross operating margin9900 | €31,510 | €25,407 | -€1,219 | €15,463 | €7,147 | €20,365 | €1,270 | -€2,245 | - |
| Operating profit (loss)9901 | €23,938 | €15,125 | -€11,250 | €11,849 | €6,426 | €19,568 | €455 | -€3,063 | - |
| Financial income75/76B | - | - | - | - | €2,964 | €10 | €3,049 | €6,802 | ▲ 123% |
| Recurring financial income75 | €65 | - | - | - | €2,964 | €10 | €3,049 | €6,802 | ▲ 123% |
| Financial charges65/66B | - | - | - | €119 | €1,175 | €82 | €158 | €125 | ▼ 21.2% |
| Recurring financial charges65 | €68 | €85 | €78 | €119 | €1,175 | €82 | €158 | €125 | ▼ 21.2% |
| Non-recurring financial charges66B | - | - | - | €119 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €23,935 | €15,040 | -€11,328 | €11,731 | €8,215 | €19,496 | €3,345 | €3,615 | ▲ 8.1% |
| Income taxes67/77 | €8,829 | €6,390 | €204 | €2,212 | €3,037 | €8,752 | €1,703 | €53 | ▼ 96.9% |
| Profit (loss) for the period9904 | €15,106 | €8,650 | -€11,532 | €9,519 | €5,178 | €10,743 | €1,642 | €3,562 | ▲ 117% |
| Profit (loss) for the period to be appropriated9905 | €15,106 | €8,650 | -€11,532 | €9,519 | €5,178 | €10,743 | €1,642 | €3,562 | ▲ 117% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €237,225 | €223,975 | €211,927 | €222,866 | €228,377 | €238,925 | €238,586 | €243,642 | ▲ 2.1% |
| Fixed assets21/28 | €21,567 | €12,002 | €2,694 | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €21,567 | €12,002 | €2,694 | €0 | - | - | - | - | - |
| Current assets29/58 | €215,658 | €211,972 | €209,233 | €222,866 | €228,377 | €238,925 | €238,586 | €243,642 | ▲ 2.1% |
| Amounts receivable within one year40/41 | - | €4,252 | €1,772 | €1,901 | €10,429 | €8,659 | €7,885 | €1,755 | ▼ 77.7% |
| Trade receivables40 | - | - | - | - | €6,322 | €1,906 | - | - | - |
| Other amounts receivable41 | - | - | - | €1,901 | €4,107 | €6,754 | €7,885 | €1,755 | ▼ 77.7% |
| Current investments50/53 | - | - | - | - | €125,127 | €206,035 | €206,199 | €190,385 | ▼ 7.7% |
| Cash at bank and in hand54/58 | €215,658 | €207,721 | €207,461 | €220,965 | €92,820 | €24,230 | €24,501 | €51,502 | ▲ 110% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €237,225 | €223,975 | €211,927 | €222,866 | €228,377 | €238,925 | €238,586 | €243,642 | ▲ 2.1% |
| Equity10/15 | €214,342 | €222,992 | €211,460 | €220,979 | €226,157 | €236,900 | €238,543 | €242,105 | ▲ 1.5% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | - | - | €18,600 | - | - | €18,600 | €18,600 | = |
| Issued capital100 | - | - | - | €18,600 | - | - | €18,600 | €18,600 | = |
| Reserves13 | €159,268 | €167,918 | €165,510 | €177,437 | €182,615 | €193,358 | €195,001 | €198,563 | ▲ 1.8% |
| Non-distributable reserves130/1 | - | - | - | €2,408 | €2,408 | €2,408 | €2,408 | €2,408 | = |
| Legal reserve130 | - | - | - | €2,408 | - | - | - | €2,408 | - |
| Reserves not available under the articles1311 | - | - | - | - | €2,408 | €2,408 | €2,408 | - | - |
| Distributable reserves133 | - | - | - | €175,029 | €180,207 | €190,950 | €192,593 | €196,155 | ▲ 1.8% |
| Profit (loss) carried forward14 | €36,473 | €36,473 | €24,942 | €24,942 | €24,942 | €24,942 | €24,942 | €24,942 | = |
| Amounts payable17/49 | €22,883 | €983 | €467 | €1,887 | €2,220 | €2,025 | €43 | €1,537 | ▲ 35× |
| Amounts payable within one year42/48 | €22,883 | €983 | €467 | €1,887 | €2,220 | €2,025 | €43 | €1,537 | ▲ 35× |
| Trade debts44 | €98 | €114 | €88 | €94 | €246 | €1,813 | €43 | €40 | ▼ 7.3% |
| Suppliers440/4 | - | - | - | €94 | €246 | €1,813 | €43 | €40 | ▼ 7.3% |
| Taxes, remuneration and social security45 | - | - | - | - | €1,974 | €212 | - | - | - |
| Taxes450/3 | - | - | - | - | €1,974 | €212 | - | - | - |
| Other amounts payable47/48 | - | - | - | €1,793 | - | - | - | €1,497 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €15,106 | €8,650 | -€11,532 | €9,519 | €5,178 | €10,743 | €1,642 | €3,562 | ▲ 117% |
| + Depreciation and write-downs630 | €6,651 | €9,564 | €9,309 | €2,694 | €0 | - | - | - | - |
| Operating cash flow (approximation) | €21,757 | €18,215 | -€2,223 | €12,213 | €5,178 | €10,743 | €1,642 | €3,562 | ▲ 117% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - | - | - | - | - | - |
| Change in cash | - | -€7,937 | -€260 | €13,504 | -€128,145 | -€68,590 | €272 | €27,001 | ▲ 99× |
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 PAUL ECTOR 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 PAUL ECTOR 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 17,041 companies, not a prediction for PAUL ECTOR. 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 22 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 05-08-2026 | 2026-00382601 | |
| 31-12-2024 | micro format | 18-08-2025 | 2025-00382198 | |
| 31-12-2023 | micro format | 18-08-2024 | 2024-00350232 | |
| 31-12-2022 | micro format | 18-08-2023 | 2023-00334664 | |
| 31-12-2021 | micro format | 22-08-2022 | 2022-20301903 | |
| 31-12-2020 | micro format | 23-08-2021 | 2021-52200067 | |
| 31-12-2019 | micro format | 20-08-2020 | 2020-42800072 | |
| 31-12-2018 | micro format | 24-08-2019 | 2019-51500292 | |
| 31-12-2017 | micro format | 27-08-2018 | 2018-50500032 | |
| 31-12-2016 | micro format | 24-08-2017 | 2017-47700096 |