PC-MACLOG
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 11-03-2026 PDF all 28 filings
Turnover
≈ €260,000
Estimated: probably between €200,000 and €420,000
EBIT margin
Not included in this filing
Net result
€24,382▲ 458%
2024 · €4,368
Working capital
€232,417▲ 7.0%
2024 · €217,251
In the rankings
#7 oldest company in Orp-Jauche, Wholesale and retail trade sector#8 company by equity in Orp-Jauche, Wholesale and retail trade sector
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€39,522
▲ 275%
2025
20192025
Net result
€24,382
▲ 458%
2025
highest quarter of the sector
20192025
Equity
€244,665
▲ 11.1%
2025
highest quarter of the sector
20192025
Total assets
€320,565
▲ 14.1%
2025
middle half of the sector
20192025
Debt
€75,901
▲ 25.1%
2025
20192025
Working capital
€232,417
▲ 7.0%
2025
highest quarter of the sector
20192025
Solvency
76.3%
▼ 2.1pp
2025
highest quarter of the sector
20192025
Current ratio
4.06
▼ 1.70
2025
highest quarter of the sector
20192025
Return on assets (ROA)
7.6%
▲ 6.1pp
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€33,826-€44,575▲ 31.8%€21,502▼ 51.8%€26,442▲ 23.0%€26,743▲ 1.1%€10,540▼ 60.6%€39,522▲ 275%
Net result€24,151-€33,952within the sector's middle half▲ 40.6%€14,315within the sector's middle half▼ 57.8%€17,575within the sector's middle half▲ 22.8%€17,601within the sector's middle half▲ 0.1%€4,368within the sector's middle half▼ 75.2%€24,382above the sector's middle half▲ 458%
Equity€137,273-€168,925within the sector's middle half▲ 23.1%€183,239within the sector's middle half▲ 8.5%€200,814above the sector's middle half▲ 9.6%€215,915above the sector's middle half▲ 7.5%€220,283above the sector's middle half▲ 2.0%€244,665above the sector's middle half▲ 11.1%
Total assets€180,082-€220,077below the sector's middle half▲ 22.2%€225,861below the sector's middle half▲ 2.6%€267,788within the sector's middle half▲ 18.6%€274,586within the sector's middle half▲ 2.5%€280,942within the sector's middle half▲ 2.3%€320,565within the sector's middle half▲ 14.1%
Debt€42,809-€51,152▲ 19.5%€42,622▼ 16.7%€66,974▲ 57.1%€58,671▼ 12.4%€60,659▲ 3.4%€75,901▲ 25.1%
Working capital€117,916-€156,797within the sector's middle half▲ 33.0%€175,105within the sector's middle half▲ 11.7%€195,103above the sector's middle half▲ 11.4%€191,218above the sector's middle half▼ 2.0%€217,251above the sector's middle half▲ 13.6%€232,417above the sector's middle half▲ 7.0%
Solvency76.2%-76.8%above the sector's middle half▲ 0.5pp81.1%above the sector's middle half▲ 4.4pp75.0%above the sector's middle half▼ 6.1pp78.6%above the sector's middle half▲ 3.6pp78.4%above the sector's middle half▼ 0.2pp76.3%above the sector's middle half▼ 2.1pp
Current ratio3.88-4.07above the sector's middle half▲ 0.195.11above the sector's middle half▲ 1.043.91above the sector's middle half▼ 1.204.26above the sector's middle half▲ 0.355.76above the sector's middle half▲ 1.504.06above the sector's middle half▼ 1.70
Return on assets (ROA)13.4%-15.4%above the sector's middle half▲ 2.0pp6.3%within the sector's middle half▼ 9.1pp6.6%within the sector's middle half▲ 0.2pp6.4%within the sector's middle half▼ 0.2pp1.6%within the sector's middle half▼ 4.9pp7.6%within the sector's middle half▲ 6.1pp
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). 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 over 3.7 times that of 2024 and the highest since 2021. It is a recovery after the fall in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €320,565
Fixed assets
€12,248 ▼ 32.1%
Current assets
€308,317 ▲ 17.3%
Equity and liabilities €320,565
Equity
€244,665 ▲ 11.1%
Debt
€75,901 ▲ 25.1%
Debt's share of the balance-sheet total rises from 21.6% to 23.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€45,306▲
2024 · €17,205
Cash flow
€30,166▲
2024 · €11,034
Quick ratio
4.02▼
2024 · 5.70
Debt to equity
0.31▲
2024 · 0.28
ROE
10.0%▲
2024 · 2.0%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€75,901▲
2024 · €45,659
Income taxes
€15,141▲
2024 · €6,004
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | €24,886 | - | - |
| Depreciation and write-downs of the year | €2,423 | €5,900 | €6,665 | €5,784 |
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 | €9,865 | €10,275 | €7,619 | €2,423 | €5,900 | €6,665 | €5,784 | ▼ 13.2% |
| Other operating charges640/8 | - | - | - | €1,493 | €806 | €466 | €1,179 | ▲ 153% |
| Gross operating margin9900 | €44,577 | €55,702 | €29,928 | €30,358 | €33,449 | €17,671 | €46,485 | ▲ 163% |
| Operating profit (loss)9901 | €33,826 | €44,575 | €21,502 | €26,442 | €26,743 | €10,540 | €39,522 | ▲ 275% |
| Financial income75/76B | - | - | - | - | - | - | €132 | - |
| Recurring financial income75 | - | - | - | - | - | - | €132 | - |
| Financial charges65/66B | - | - | - | €291 | €181 | €168 | €130 | ▼ 22.3% |
| Recurring financial charges65 | €279 | €219 | €114 | €291 | €181 | €168 | €130 | ▼ 22.3% |
| Profit (loss) for the period before taxes9903 | €33,547 | €44,356 | €21,388 | €26,151 | €26,562 | €10,372 | €39,523 | ▲ 281% |
| Income taxes67/77 | €9,396 | €10,404 | €7,074 | €8,576 | €8,961 | €6,004 | €15,141 | ▲ 152% |
| Profit (loss) for the period9904 | €24,151 | €33,952 | €14,315 | €17,575 | €17,601 | €4,368 | €24,382 | ▲ 458% |
| Profit (loss) for the period to be appropriated9905 | €24,151 | €33,952 | €14,315 | €17,575 | €17,601 | €4,368 | €24,382 | ▲ 458% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €180,082 | €220,077 | €225,861 | €267,788 | €274,586 | €280,942 | €320,565 | ▲ 14.1% |
| Fixed assets21/28 | €21,180 | €12,128 | €8,134 | €5,711 | €24,697 | €18,032 | €12,248 | ▼ 32.1% |
| Tangible fixed assets22/27 | €21,180 | €12,128 | €8,134 | €5,711 | €24,697 | €18,032 | €12,248 | ▼ 32.1% |
| Land and buildings22 | - | - | - | €5,711 | - | - | - | - |
| Plant, machinery and equipment23 | - | - | - | - | €3,698 | €2,010 | €1,203 | ▼ 40.1% |
| Furniture and vehicles24 | - | - | - | - | €21,000 | €16,022 | €11,045 | ▼ 31.1% |
| Current assets29/58 | €158,902 | €207,949 | €217,727 | €262,077 | €249,888 | €262,910 | €308,317 | ▲ 17.3% |
| Stocks and contracts in progress3 | €6,059 | €5,979 | €3,774 | €3,659 | €2,847 | €2,847 | €3,250 | ▲ 14.1% |
| Stocks30/36 | - | - | - | €3,659 | €2,847 | €2,847 | €3,250 | ▲ 14.1% |
| Amounts receivable within one year40/41 | €66,113 | €108,039 | €60,802 | €89,050 | €105,750 | €123,655 | €106,984 | ▼ 13.5% |
| Trade receivables40 | - | - | - | €89,050 | €105,750 | €123,655 | €106,984 | ▼ 13.5% |
| Cash at bank and in hand54/58 | €86,730 | €93,931 | €153,152 | €169,368 | €141,291 | €136,408 | €198,083 | ▲ 45.2% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €180,082 | €220,077 | €225,861 | €267,788 | €274,586 | €280,942 | €320,565 | ▲ 14.1% |
| Equity10/15 | €137,273 | €168,925 | €183,239 | €200,814 | €215,915 | €220,283 | €244,665 | ▲ 11.1% |
| Contributions10/11 | €6,198 | €6,198 | €6,197 | €6,197 | €6,197 | €6,197 | €8,056 | ▲ 30.0% |
| Capital10 | - | - | - | €6,197 | €6,197 | €6,197 | - | - |
| Issued capital100 | - | - | - | €18,750 | €18,750 | €18,750 | - | - |
| Uncalled capital101 | - | - | - | €12,553 | €12,553 | €12,553 | - | - |
| Reserves13 | €4,059 | €4,059 | €4,059 | €4,059 | €4,059 | €4,059 | €26,200 | ▲ 545% |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | €1,859 | €24,000 | ▲ 13× |
| Legal reserve130 | - | - | - | €1,859 | €1,859 | €1,859 | - | - |
| Other1319 | - | - | - | - | - | - | €24,000 | - |
| Tax-exempt reserves132 | - | - | - | €2,200 | €2,200 | €2,200 | €2,200 | = |
| Profit (loss) carried forward14 | €127,016 | €158,668 | €172,983 | €190,557 | €205,658 | €210,027 | €210,409 | ▲ 0.2% |
| Amounts payable17/49 | €42,809 | €51,152 | €42,622 | €66,974 | €58,671 | €60,659 | €75,901 | ▲ 25.1% |
| Amounts payable after more than one year17 | €1,823 | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €40,986 | €51,152 | €42,622 | €66,974 | €58,671 | €45,659 | €75,901 | ▲ 66.2% |
| Trade debts44 | €22,183 | €25,103 | €21,125 | €39,432 | €25,856 | €23,703 | €42,211 | ▲ 78.1% |
| Suppliers440/4 | - | - | - | €39,432 | €25,856 | €23,703 | €42,211 | ▲ 78.1% |
| Taxes, remuneration and social security45 | - | - | - | €13,759 | €11,915 | €4,408 | €13,119 | ▲ 198% |
| Taxes450/3 | - | - | - | €13,759 | €11,915 | €4,408 | €13,119 | ▲ 198% |
| Other amounts payable47/48 | - | - | - | €13,783 | €20,900 | €17,548 | €20,571 | ▲ 17.2% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €15,000 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24,151 | €33,952 | €14,315 | €17,575 | €17,601 | €4,368 | €24,382 | ▲ 458% |
| + Depreciation and write-downs630 | €9,865 | €10,275 | €7,619 | €2,423 | €5,900 | €6,665 | €5,784 | ▼ 13.2% |
| Operating cash flow (approximation) | €34,016 | €44,227 | €21,934 | €19,998 | €23,501 | €11,034 | €30,166 | ▲ 173% |
| Investment in fixed assets (approximation) | - | -€1,223 | -€3,626 | €0 | -€24,886 | €0 | €0 | - |
| Change in cash | - | €7,201 | €59,221 | €16,216 | -€28,076 | -€4,883 | €61,675 | - |
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, 31,368 companies had the same profile as PC-MACLOG has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of PC-MACLOG 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 31,368 companies, not a prediction for PC-MACLOG. 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 28 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 11-03-2026 | 2026-00052058 | |
| 30-09-2024 | micro format | 28-03-2025 | 2025-00056568 | |
| 30-09-2023 | micro format | 11-03-2024 | 2024-00041473 | |
| 30-09-2022 | micro format | 08-03-2023 | 2023-00036788 | |
| 30-09-2021 | full format | 25-02-2022 | 2022-06400097 | |
| 30-09-2020 | full format | 22-03-2021 | 2021-08000486 | |
| 30-09-2019 | full format | 28-02-2020 | 2020-05900215 | |
| 30-09-2018 | full format | 28-02-2019 | 2019-06200047 | |
| 30-09-2017 | full format | 13-03-2018 | 2018-06700251 | |
| 30-09-2016 | full format | 30-12-2016 | 2016-72100519 |