PHI - SOFT
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 14-07-2026 at the NBB all 23 filings
Turnover
≈ €120,000
Estimated: probably between €100,000 and €160,000
Total assets
€2.7m▼ 6.5%
2024 · €2.9m
Net result
-€126,707▼ 73.3%
2024 · -€73,135
Working capital
-€633,899▼ 25.5%
2024 · -€505,065
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€48,011
2025
20182025
Net result
-€126,707
▼ 73.3%
2025
lowest quarter of the sector
20182025
Equity
€1.4m
▼ 8.4%
2025
highest quarter of the sector
20182025
Total assets
€2.7m
▼ 6.5%
2025
highest quarter of the sector
20182025
Debt
€1.3m
▼ 4.4%
2025
20182025
Working capital
-€633,899
▼ 25.5%
2025
lowest quarter of the sector
20182025
Solvency
50.9%
▼ 1.1pp
2025
middle half of the sector
20182025
Current ratio
0.11
▼ 0.17
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
-4.6%
▼ 2.1pp
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€0.08m-€0.2m▲ 145%€0.3m▲ 28.1%€0.3m▲ 34.8%€0.2m▼ 54.7%-€0.09m€0.001m-€0.05m
Net result€0.05m-€0.1m▲ 145%€0.1mabove the sector's middle half▲ 24.8%€0.2mabove the sector's middle half▲ 54.2%€0.1mabove the sector's middle half▼ 52.5%-€0.1mbelow the sector's middle half-€0.07mbelow the sector's middle half▲ 42.2%-€0.1mbelow the sector's middle half▼ 73.3%
Equity€0.3m-€0.4m▲ 45.5%€0.5mabove the sector's middle half▲ 27.0%€0.7mabove the sector's middle half▲ 46.9%€1.8mabove the sector's middle half▲ 148%€1.6mabove the sector's middle half▼ 8.8%€1.5mabove the sector's middle half▼ 7.5%€1.4mabove the sector's middle half▼ 8.4%
Total assets€0.9m-€0.9m▼ 0.1%€0.9mabove the sector's middle half▼ 2.4%€1.2mabove the sector's middle half▲ 25.3%€2.8mabove the sector's middle half▲ 145%€3.1mabove the sector's middle half▲ 10.6%€2.9mabove the sector's middle half▼ 6.4%€2.7mabove the sector's middle half▼ 6.5%
Debt€0.7m-€0.5m▼ 18.1%€0.4m▼ 23.1%€0.4m▲ 0.3%€1.0m▲ 143%€1.5m▲ 45.1%€1.4m▼ 5.2%€1.3m▼ 4.4%
Working capital€0.06m-€0.1m▲ 140%€0.2mabove the sector's middle half▲ 55.8%€0.2mabove the sector's middle half▼ 6.4%€0.01mbelow the sector's middle half▼ 93.8%-€0.5mbelow the sector's middle half-€0.5mbelow the sector's middle half▼ 11.1%-€0.6mbelow the sector's middle half▼ 25.5%
Solvency28.3%-41.2%▲ 12.9pp53.6%within the sector's middle half▲ 12.4pp62.9%within the sector's middle half▲ 9.3pp63.7%within the sector's middle half▲ 0.8pp52.5%within the sector's middle half▼ 11.2pp51.9%within the sector's middle half▼ 0.6pp50.9%within the sector's middle half▼ 1.1pp
Current ratio1.19-1.59▲ 0.412.44within the sector's middle half▲ 0.852.08within the sector's middle half▼ 0.371.01below the sector's middle half▼ 1.060.37below the sector's middle half▼ 0.640.27below the sector's middle half▼ 0.100.11below the sector's middle half▼ 0.17
Return on assets (ROA)5.2%-12.8%▲ 7.6pp16.3%within the sector's middle half▲ 3.6pp20.1%within the sector's middle half▲ 3.8pp3.9%within the sector's middle half▼ 16.2pp-4.1%below the sector's middle half▼ 8.0pp-2.5%below the sector's middle half▲ 1.6pp-4.6%below the sector's middle half▼ 2.1pp
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). 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 €48,011, after a profit of €1,467 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 €2.7m
Fixed assets
€2.7m ▼ 2.7%
Current assets
€75,646 ▼ 60.4%
Equity and liabilities €2.7m
Equity
€1.4m ▼ 8.4%
Provisions
€9,004 ▼ 4.0%
Debt
€1.3m ▼ 4.4%
Debt's share of the balance-sheet total rises from 47.8% to 48.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€17,731▼
2024 · €66,186
Cash flow
-€60,965▼
2024 · -€8,416
Debt to equity
0.96▲
2024 · 0.92
ROE
-9.1%▼
2024 · -4.8%
Interest coverage
0.26▼
2024 · 0.86
Debt ≤ 1 year
€709,545▲
2024 · €696,190
Debt > 1 year
€563,297▼
2024 · €642,434
Income taxes
€11,379▲
2024 · €269
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 | - | - | €11,000 | €11,000 | €11,000 |
| Mortgage mandates | €445,000 | €445,000 | €1.1m | €1.1m | €1.1m |
| Carrying value of the mortgaged assets | €766,331 | €886,016 | €2.6m | €2.7m | €2.6m |
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 | €237,465 | €1.3m | €982,925 | €121,494 | €15,616 |
| Financial fixed assets | - | - | - | €4,185 | €0 |
| Depreciation and write-downs of the year | €29,101 | €102,700 | €114,800 | €64,719 | €65,742 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 · 1 entry · €389 awarded · €389 paidAnnual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0 | - | - | €33,124 | €11,039 | ▼ 66.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €83,306 | €26,954 | €17,985 | €29,101 | €102,700 | €114,800 | €64,719 | €65,742 | ▲ 1.6% |
| Other operating charges640/8 | - | - | - | €3,720 | €4,185 | €16,713 | €9,649 | €21,127 | ▲ 119% |
| Non-recurring operating charges66A | - | - | - | - | - | €350 | €16,748 | €22,997 | ▲ 37.3% |
| Gross operating margin9900 | €165,646 | €226,900 | €273,592 | €370,189 | €259,743 | €46,675 | €92,583 | €61,854 | ▼ 33.2% |
| Operating profit (loss)9901 | €79,896 | €195,480 | €250,326 | €337,368 | €152,858 | -€85,187 | €1,467 | -€48,011 | - |
| Financial income75/76B | - | - | - | €445 | €2,054 | €2,764 | €1,990 | €29 | ▼ 98.5% |
| Recurring financial income75 | €4,654 | €791 | €36 | €445 | €2,054 | €2,764 | €1,990 | €29 | ▼ 98.5% |
| Financial charges65/66B | - | - | - | €6,797 | €7,098 | €45,835 | €76,698 | €67,722 | ▼ 11.7% |
| Recurring financial charges65 | €9,679 | €15,272 | €24,214 | €6,797 | €7,098 | €45,835 | €76,698 | €67,722 | ▼ 11.7% |
| Profit (loss) for the period before taxes9903 | €74,872 | €180,998 | €226,148 | €331,017 | €147,815 | -€128,258 | -€73,241 | -€115,704 | ▼ 58.0% |
| Transfer from deferred taxes780 | - | - | - | €375 | €375 | €393 | €375 | €375 | = |
| Income taxes67/77 | €26,285 | €61,411 | €76,624 | €100,293 | €38,468 | -€1,298 | €269 | €11,379 | ▲ 42× |
| Profit (loss) for the period9904 | €49,025 | €120,085 | €149,896 | €231,099 | €109,721 | -€126,567 | -€73,135 | -€126,707 | ▼ 73.3% |
| Transfer from tax-exempt reserves789 | - | - | - | €1,126 | €1,126 | €1,179 | €1,126 | €1,126 | = |
| Profit (loss) for the period to be appropriated9905 | €49,875 | €121,271 | €151,010 | €232,225 | €110,847 | -€125,387 | -€72,009 | -€125,581 | ▼ 74.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.9m | €0.9m | €0.9m | €1.2m | €2.8m | €3.1m | €2.9m | €2.7m | ▼ 6.5% |
| Formation expenses20 | €0 | - | - | - | - | - | - | - | - |
| Fixed assets21/28 | €0.6m | €0.6m | €0.6m | €0.8m | €2.0m | €2.8m | €2.7m | €2.7m | ▼ 2.7% |
| Intangible fixed assets21 | €0 | - | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €0.6m | €0.6m | €0.6m | €0.8m | €2.0m | €2.8m | €2.7m | €2.7m | ▼ 2.5% |
| Land and buildings22 | - | - | - | €0.8m | €1.5m | €2.6m | €2.7m | €2.6m | ▼ 2.4% |
| Plant, machinery and equipment23 | - | - | - | - | €0.005m | €0.005m | €0.005m | €0.002m | ▼ 47.9% |
| Furniture and vehicles24 | - | - | - | €0.002m | €0.2m | €0.2m | €0.02m | €0.02m | ▼ 10.7% |
| Other tangible fixed assets26 | - | - | - | €0.004m | €0.004m | €0.008m | €0.02m | €0.02m | ▼ 2.9% |
| Assets under construction and advance payments27 | - | - | - | - | €0.2m | €0 | - | - | - |
| Financial fixed assets28 | €0 | - | - | - | - | - | €0.004m | €0 | ▼ 100% |
| Current assets29/58 | €0.4m | €0.4m | €0.4m | €0.4m | €0.8m | €0.3m | €0.2m | €0.08m | ▼ 60.4% |
| Amounts receivable after more than one year29 | - | - | - | - | €0.05m | €0 | - | - | - |
| Trade receivables290 | - | - | - | - | €0.05m | €0 | - | - | - |
| Stocks and contracts in progress3 | €0 | - | - | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €0.008m | €0.001m | €0.01m | €0.1m | €0.1m | €0.2m | €0.1m | €0.04m | ▼ 69.1% |
| Trade receivables40 | - | - | - | €0.09m | €0.02m | €0.06m | €0.04m | €0.03m | ▼ 31.0% |
| Other amounts receivable41 | - | - | - | €0.05m | €0.1m | €0.2m | €0.07m | €0.005m | ▼ 92.9% |
| Current investments50/53 | €0 | €0.05m | €0.002m | €0.01m | €0.02m | €0 | - | - | - |
| Cash at bank and in hand54/58 | €0.3m | €0.3m | €0.3m | €0.2m | €0.6m | €0.03m | €0.04m | €0.009m | ▼ 74.8% |
| Deferred charges and accrued income490/1 | - | - | - | €0.007m | €0.01m | €0.02m | €0.04m | €0.03m | ▼ 21.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.9m | €0.9m | €0.9m | €1.2m | €2.8m | €3.1m | €2.9m | €2.7m | ▼ 6.5% |
| Equity10/15 | €0.3m | €0.4m | €0.5m | €0.7m | €1.8m | €1.6m | €1.5m | €1.4m | ▼ 8.4% |
| Contributions10/11 | €0.02m | €0.02m | - | €0.02m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Reserves13 | €0.2m | €0.3m | €0.5m | €0.7m | €0.8m | €0.7m | €0.7m | €0.7m | ▼ 0.2% |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.006m | €0.006m | €0 | - | - | - |
| Tax-exempt reserves132 | - | - | - | €0.08m | €0.08m | €0.07m | €0.07m | €0.07m | ▼ 1.5% |
| Distributable reserves133 | - | - | - | €0.6m | €0.7m | €0.7m | €0.6m | €0.6m | = |
| Profit (loss) carried forward14 | €0.02m | €0.02m | €0 | €0 | €0 | -€0.1m | -€0.2m | -€0.3m | ▼ 65.5% |
| Provisions and deferred taxes16 | €0.02m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.009m | €0.009m | ▼ 4.0% |
| Deferred taxes168 | - | - | - | €0.01m | €0.01m | €0.01m | €0.009m | €0.009m | ▼ 4.0% |
| Amounts payable17/49 | €0.7m | €0.5m | €0.4m | €0.4m | €1.0m | €1.5m | €1.4m | €1.3m | ▼ 4.4% |
| Amounts payable after more than one year17 | €0.4m | €0.3m | €0.3m | €0.2m | €0.2m | €0.7m | €0.6m | €0.6m | ▼ 12.3% |
| Financial debts170/4 | - | - | - | €0.2m | €0.2m | €0.7m | €0.6m | €0.6m | ▼ 12.3% |
| Amounts payable within one year42/48 | €0.3m | €0.2m | €0.1m | €0.2m | €0.8m | €0.7m | €0.7m | €0.7m | ▲ 1.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.05m | €0.05m | €0.06m | €0.08m | €0.08m | ▲ 2.2% |
| Trade debts44 | €0.03m | €0.01m | €0.01m | €0.04m | €0.05m | €0.03m | €0.04m | €0.02m | ▼ 56.7% |
| Suppliers440/4 | - | - | - | €0.04m | €0.05m | €0.03m | €0.04m | €0.02m | ▼ 56.7% |
| Taxes, remuneration and social security45 | - | - | - | €0.09m | €0.06m | €0.005m | €280 | €0.01m | ▲ 42× |
| Taxes450/3 | - | - | - | €0.09m | €0.06m | €0.005m | €280 | €0.01m | ▲ 42× |
| Remuneration and social security454/9 | - | - | - | €0.001m | €0 | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €0.002m | €0.7m | €0.6m | €0.6m | €0.6m | ▲ 3.8% |
| Accrued charges and deferred income492/3 | - | - | - | €0.009m | €0.004m | €0.02m | €0.05m | €0.06m | ▲ 7.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.05m | €0.1m | €0.1m | €0.2m | €0.1m | -€0.1m | -€0.07m | -€0.1m | ▼ 73.3% |
| + Depreciation and write-downs630 | €0.08m | €0.03m | €0.02m | €0.03m | €0.1m | €0.1m | €0.06m | €0.07m | ▲ 1.6% |
| Operating cash flow (approximation) | €0.1m | €0.1m | €0.2m | €0.3m | €0.2m | -€0.01m | -€0.008m | -€0.06m | ▼ 624% |
| Investment in fixed assets (approximation) | - | -€0.02m | -€0.002m | -€0.2m | -€1.3m | -€1.0m | €0.05m | €0.008m | ▼ 86.1% |
| Change in cash | - | -€0.04m | €0.04m | -€0.1m | €0.4m | -€0.6m | €0.004m | -€0.03m | - |
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, 8,617 companies had the same profile as PHI - SOFT has now. Two years later, 94.1% were still going and 0.4% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
94.1%
was still going
5.2%
stopped otherwise
0.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of PHI - SOFT 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 8,617 companies, not a prediction for PHI - SOFT. 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 23 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 14-07-2026 | 2026-00302961 | |
| 31-12-2024 | micro format | 17-07-2025 | 2025-00284008 | |
| 31-12-2023 | micro format | 24-06-2024 | 2024-00159082 | |
| 31-12-2022 | micro format | 14-07-2023 | 2023-00248496 | |
| 31-12-2021 | micro format | 14-06-2022 | 2022-20063728 | |
| 31-12-2020 | micro format | 16-06-2021 | 2021-22100539 | |
| 31-12-2019 | micro format | 16-06-2020 | 2020-17300017 | |
| 31-12-2018 | micro format | 08-07-2019 | 2019-31100355 | |
| 31-12-2017 | abbreviated format | 17-07-2018 | 2018-34300001 | |
| 31-12-2016 | abbreviated format | 24-07-2017 | 2017-34500516 |