PERMABIO
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 27 days after the deadline Filed on 27 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00434984.
Annual accounts 2025 filed on 27-08-2026 at the NBB all 19 filings
Turnover
€2,986
EBIT margin
Not meaningful: turnover is only a small part of operating income
Net result
€2,436
2024 · -€30,686
Working capital
-€80,392
2024 · €187,488
Multi-year overview
2019 to 2025, 7 financial yearsTurnover
no figure
2025
20192025
Operating result
€5,694
2025
20192025
Net result
€2,436
2025
middle half of the sector
20192025
Equity
-€80,392
▲ 2.9%
2025
lowest quarter of the sector
20192025
Total assets
€426
▼ 99.9%
2025
lowest quarter of the sector
20192025
Debt
€80,818
▼ 80.9%
2025
20192025
Working capital
-€80,392
2025
lowest quarter of the sector
20192025
Solvency
no figure
2025
20192025
Current ratio
no figure
2025
20192025
Return on assets (ROA)
no figure
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Turnover€2,986
Operating result-€292-€20,359▼ 6,875%-€13,908▲ 31.7%-€17,614▼ 26.6%€5,694
Net result-€292within the sector's middle half-€22,443below the sector's middle half▼ 7,588%-€29,728below the sector's middle half▼ 32.5%-€30,686below the sector's middle half▼ 3.2%€2,436within the sector's middle half
Equity€320-€320below the sector's middle half=€28below the sector's middle half▼ 91.2%-€22,414below the sector's middle half-€52,142below the sector's middle half▼ 133%-€82,828below the sector's middle half▼ 58.9%-€80,392below the sector's middle half▲ 2.9%
Total assets€624-€624below the sector's middle half=€389below the sector's middle half▼ 37.6%€358,329within the sector's middle half▲ 920×€339,034within the sector's middle half▼ 5.4%€341,365within the sector's middle half▲ 0.7%€426below the sector's middle half▼ 99.9%
Debt€304-€304=€361▲ 18.7%€380,743▲ 1,054×€391,176▲ 2.7%€424,192▲ 8.4%€80,818▼ 80.9%
Working capital€320-€320within the sector's middle half=€28within the sector's middle half▼ 91.2%€291,747above the sector's middle half▲ 10,313×€262,253above the sector's middle half▼ 10.1%€187,488above the sector's middle half▼ 28.5%-€80,392below the sector's middle half
Solvency-6.3%below the sector's middle half-15.4%below the sector's middle half▼ 9.1pp-24.3%below the sector's middle half▼ 8.9pp
Current ratio5.43above the sector's middle half4.44above the sector's middle half▼ 0.992.22within the sector's middle half▼ 2.22
Return on assets (ROA)-6.3%below the sector's middle half-8.8%below the sector's middle half▼ 2.5pp-9.0%below the sector's middle half▼ 0.2pp
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 a profit of €5,694, after a loss of €17,614 in 2024. It is the highest result since 2021.
Key figures and ratios
EBITDA
€5,926▲
2024 · -€17,379
Cash flow
€2,667▲
2024 · -€30,452
Interest coverage
1.82▲
2024 · -1.33
Debt ≤ 1 year
€80,818▼
2024 · €153,645
The ratios are withheld because a balance sheet total of €426 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €703 | - | - | - |
| Depreciation and write-downs of the year | - | €3 | €234 | €234 | €231 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | €2,986 | - | - | - |
| Non-recurring operating income76A | - | - | - | - | - | - | €18,517 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | €292 | €20,357 | €16,659 | €17,379 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €3 | €234 | €234 | €231 | ▼ 1.3% |
| Gross operating margin9900 | - | - | -€292 | -€20,356 | -€13,674 | -€17,379 | €5,926 | - |
| Operating profit (loss)9901 | - | - | -€292 | -€20,359 | -€13,908 | -€17,614 | €5,694 | - |
| Financial income75/76B | - | - | - | - | - | €0 | - | - |
| Recurring financial income75 | - | - | - | - | - | €0 | - | - |
| Financial charges65/66B | - | - | - | €2,083 | €15,820 | €13,072 | €3,259 | ▼ 75.1% |
| Recurring financial charges65 | - | - | - | €2,083 | €15,820 | €13,072 | €3,259 | ▼ 75.1% |
| Profit (loss) for the period before taxes9903 | - | - | -€292 | -€22,443 | -€29,728 | -€30,686 | €2,436 | - |
| Profit (loss) for the period9904 | - | - | -€292 | -€22,443 | -€29,728 | -€30,686 | €2,436 | - |
| Profit (loss) for the period to be appropriated9905 | - | - | -€292 | -€22,443 | -€29,728 | -€30,686 | €2,436 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €624 | €624 | €389 | €358,329 | €339,034 | €341,365 | €426 | ▼ 99.9% |
| Fixed assets21/28 | - | - | - | €700 | €465 | €231 | - | - |
| Tangible fixed assets22/27 | - | - | - | €700 | €465 | €231 | - | - |
| Furniture and vehicles24 | - | - | - | €700 | €465 | €231 | - | - |
| Current assets29/58 | €624 | €624 | €389 | €357,629 | €338,568 | €341,133 | €426 | ▼ 99.9% |
| Stocks and contracts in progress3 | - | - | - | €331,483 | €331,483 | €331,483 | - | - |
| Stocks30/36 | - | - | - | €331,483 | €331,483 | €331,483 | - | - |
| Amounts receivable within one year40/41 | €492 | €624 | €389 | €4,729 | €6,965 | €7,963 | €313 | ▼ 96.1% |
| Other amounts receivable41 | - | - | €389 | €4,729 | €6,965 | €7,963 | €313 | ▼ 96.1% |
| Cash at bank and in hand54/58 | €132 | - | - | €21,417 | €120 | €1,687 | €113 | ▼ 93.3% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €624 | €624 | €389 | €358,329 | €339,034 | €341,365 | €426 | ▼ 99.9% |
| Equity10/15 | €320 | €320 | €28 | -€22,414 | -€52,142 | -€82,828 | -€80,392 | ▲ 2.9% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €1,745 | €1,745 | €1,745 | €1,745 | €1,745 | €1,745 | €1,745 | = |
| Non-distributable reserves130/1 | - | - | €1,745 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €1,745 | - | - | - | - | - |
| Distributable reserves133 | - | - | - | €1,745 | €1,745 | €1,745 | €1,745 | = |
| Profit (loss) carried forward14 | -€7,625 | -€7,625 | -€7,917 | -€30,360 | -€60,087 | -€90,773 | -€88,338 | ▲ 2.7% |
| Amounts payable17/49 | €304 | €304 | €361 | €380,743 | €391,176 | €424,192 | €80,818 | ▼ 80.9% |
| Amounts payable after more than one year17 | - | - | - | €314,861 | €314,861 | €270,547 | - | - |
| Financial debts170/4 | - | - | - | €314,861 | €314,861 | €270,547 | - | - |
| Amounts payable within one year42/48 | €304 | €304 | €361 | €65,883 | €76,315 | €153,645 | €80,818 | ▼ 47.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | €16,277 | - | - |
| Trade debts44 | €304 | €304 | €361 | €24,085 | €8,317 | €649 | €809 | ▲ 24.6% |
| Suppliers440/4 | - | - | €361 | €24,085 | €8,317 | €649 | €809 | ▲ 24.6% |
| Other amounts payable47/48 | - | - | - | €41,798 | €67,998 | €136,719 | €80,009 | ▼ 41.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | - | - | -€292 | -€22,443 | -€29,728 | -€30,686 | €2,436 | - |
| + Depreciation and write-downs630 | - | - | - | €3 | €234 | €234 | €231 | ▼ 1.3% |
| Operating cash flow (approximation) | - | - | -€292 | -€22,439 | -€29,493 | -€30,452 | €2,667 | - |
| Investment in fixed assets (approximation) | - | - | - | - | €0 | €0 | - | - |
| Change in cash | - | - | - | - | -€21,297 | €1,567 | -€1,574 | - |
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, 3,794 companies had the same profile as PERMABIO has now. Two years later, 91.5% were still going and 2.7% had gone bankrupt.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
91.5%
was still going
5.3%
stopped otherwise
2.7%
went bankrupt
Another 0.6% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of PERMABIO itself: 0.9% 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 3,794 companies, not a prediction for PERMABIO. 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 | 27-08-2026 | 2026-00434984 | |
| 31-12-2024 | micro format | 30-08-2025 | 2025-00448280 | |
| 31-12-2023 | micro format | 29-08-2024 | 2024-00395171 | |
| 31-12-2022 | micro format | 30-06-2023 | 2023-00179191 | |
| 31-12-2021 | micro format | 14-06-2022 | 2022-20068806 | |
| 31-12-2020 | micro format | 17-12-2021 | 2021-80500584 | |
| 31-12-2019 | micro format | 30-10-2020 | 2020-65800210 | |
| 31-12-2017 | micro format | 20-02-2019 | 2019-05500153 | |
| 31-12-2014 | full format | 23-07-2015 | 2015-33800459 | |
| 31-12-2013 | full format | 03-06-2014 | 2014-15000302 |