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PHILANDRA

Active
Private limited companyfounded 2020active for 5 yearsVenelle des Trois Sapins 1, 1410 Waterloo, BelgiumKBO/BCE: BE 0758.983.032

Financials · financial year 2025, micro format

2025 annual accounts filed 73 days after the deadline Filed on 12 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00553505.

Annual accounts 2025 filed on 12-10-2026 at the NBB all 5 filings

Equity
€127,300▲ 70.3%
2024 · €74,753
Total assets
€636,315▲ 15.2%
2024 · €552,338
Net result
€52,546
2024 · -€1,809
Working capital
-€386,228▲ 15.9%
2024 · -€459,247
Multi-year overview
2021 to 2025, 5 financial years
Operating result
-€15,224
▼ 774% 2025
20212025
Net result
€52,546
2025
20212025
Equity
€127,300
▲ 70.3% 2025
20212025
Total assets
€636,315
▲ 15.2% 2025
20212025
Debt
€509,015
▲ 6.6% 2025
20212025
Working capital
-€386,228
▲ 15.9% 2025
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable unfavourable
Line20212022202320242025
Operating result-€2,600--€1,425▲ 45.2%-€1,598▼ 12.1%-€1,742▼ 9.1%-€15,224▼ 774%
Net result-€2,646--€1,482▲ 44.0%€80,689-€1,809€52,546
Equity-€2,646--€4,127▼ 56.0%€76,562€74,753▼ 2.4%€127,300▲ 70.3%
Total assets€2,584-€2,123▼ 17.9%€550,598▲ 259×€552,338▲ 0.3%€636,315▲ 15.2%
Debt€5,230-€6,250▲ 19.5%€474,036▲ 76×€477,585▲ 0.7%€509,015▲ 6.6%
Working capital€2,354-€873▼ 62.9%-€468,438-€459,247▲ 2.0%-€386,228▲ 15.9%

The operating result for 2025 is a loss of €15,224, larger than the loss of €1,742 in 2024. It is the lowest result since 2021.

Turnover and EBIT margin are not published. The micro format does not require them.

Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €636,315
Fixed assets €513,528 ▼ 6.6%
Current assets €122,787 ▲ 53×
Equity and liabilities €636,315
Equity €127,300 ▲ 70.3%
Debt €509,015 ▲ 6.6%
Debt's share of the balance-sheet total falls from 86.5% to 80.0%. Equity and debt are higher.
Key figures and ratios
2025 value · change against 2024
EBITDA
-€6,589
Cash flow
€61,182
Current ratio
0.24▲
2024 · 0.01
Debt to equity
4.00▼
2024 · 6.39
ROE
41.3%▲
2024 · -2.4%
ROA
8.3%▲
2024 · -0.3%
Interest coverage
-27.40
Debt ≤ 1 year
€509,015▲
2024 · €461,585
Income taxes
€5,074
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Investments

fixed assets acquired
Item20212022202320242025
Tangible fixed assets----€7,831
Financial fixed assets--€550,000--
Depreciation and write-downs of the year----€8,635

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 41 lines
Balance sheet Code20242025
Assets
Total assets20/58€552,338€636,315▲
Fixed assets21/28€550,000€513,528▼
Tangible fixed assets22/27-€513,528
Land and buildings22-€395,634
Furniture and vehicles24-€46,226
Other tangible fixed assets26-€71,667
Financial fixed assets28€550,000-
Current assets29/58€2,338€122,787▲
Cash at bank and in hand54/58€2,338€122,296▲
Deferred charges and accrued income490/1-€491
Equity and liabilities
Total equity and liabilities10/49€552,338€636,315▲
Equity10/15€74,753€127,300▲
Reserves13€76,562€127,300▲
Distributable reserves133€76,562€127,300▲
Profit (loss) carried forward14-€1,809-
Amounts payable17/49€477,585€509,015▲
Amounts payable after more than one year17€16,000-
Other amounts payable178/9€16,000-
Amounts payable within one year42/48€461,585€509,015▲
Trade debts44€1,355€8,578▲
Suppliers440/4€1,355€8,578▲
Taxes, remuneration and social security45-€5,200
Taxes450/3-€5,200
Other amounts payable47/48€460,230€495,237▲
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630-€8,635
Other operating charges640/8-€2,202
Gross operating margin9900-€1,742-€4,387▼
Operating profit (loss)9901-€1,742-€15,224▼
Financial income75/76B-€73,085
Recurring financial income75-€73,085
Non-recurring financial income76B-€73,085
Financial charges65/66B€67€240▲
Recurring financial charges65€67€240▲
Profit (loss) for the period before taxes9903-€1,809€57,620▲
Income taxes67/77-€5,074
Profit (loss) for the period9904-€1,809€52,546▲
Profit (loss) for the period to be appropriated9905-€1,809€52,546▲
Appropriation of the result
Profit (loss) to be appropriated9906-€1,809€50,738▲
Profit (loss) brought forward from the previous period14P--€1,809
Transfer to equity691/2-€50,738
To other reserves6921-€50,738

The notes to these accounts have 6 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 12-10-2026.

Line20212022202320242025Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630----€8,635-
Other operating charges640/8----€2,202-
Gross operating margin9900-€2,600-€1,425-€1,598-€1,742-€4,387▼ 152%
Operating profit (loss)9901-€2,600-€1,425-€1,598-€1,742-€15,224▼ 774%
Financial income75/76B--€90,000-€73,085-
Recurring financial income75--€90,000-€73,085-
Non-recurring financial income76B----€73,085-
Financial charges65/66B€46€57€57€67€240▲ 262%
Recurring financial charges65€46€57€57€67€240▲ 262%
Profit (loss) for the period before taxes9903-€2,646-€1,482€88,345-€1,809€57,620-
Income taxes67/77--€7,656-€5,074-
Profit (loss) for the period9904-€2,646-€1,482€80,689-€1,809€52,546-
Profit (loss) for the period to be appropriated9905-€2,646-€1,482€80,689-€1,809€52,546-
Line20212022202320242025Change
Assets
Total assets20/58€2,584€2,123€550,598€552,338€636,315▲ 15.2%
Fixed assets21/28--€550,000€550,000€513,528▼ 6.6%
Tangible fixed assets22/27----€513,528-
Land and buildings22----€395,634-
Furniture and vehicles24----€46,226-
Other tangible fixed assets26----€71,667-
Financial fixed assets28--€550,000€550,000--
Current assets29/58€2,584€2,123€598€2,338€122,787▲ 53×
Cash at bank and in hand54/58€2,584€2,123€598€2,338€122,296▲ 52×
Deferred charges and accrued income490/1----€491-
Equity and liabilities
Total equity and liabilities10/49€2,584€2,123€550,598€552,338€636,315▲ 15.2%
Equity10/15-€2,646-€4,127€76,562€74,753€127,300▲ 70.3%
Reserves13--€76,562€76,562€127,300▲ 66.3%
Distributable reserves133--€76,562€76,562€127,300▲ 66.3%
Profit (loss) carried forward14-€2,646-€4,127--€1,809--
Amounts payable17/49€5,230€6,250€474,036€477,585€509,015▲ 6.6%
Amounts payable after more than one year17€5,000€5,000€5,000€16,000--
Financial debts170/4€5,000€5,000€5,000---
Other amounts payable178/9---€16,000--
Amounts payable within one year42/48€230€1,250€469,036€461,585€509,015▲ 10.3%
Trade debts44-€1,020€1,150€1,355€8,578▲ 533%
Suppliers440/4-€1,020€1,150€1,355€8,578▲ 533%
Taxes, remuneration and social security45--€7,656-€5,200-
Taxes450/3--€7,656-€5,200-
Other amounts payable47/48€230€230€460,230€460,230€495,237▲ 7.6%
Line20212022202320242025Change
Profit (loss) for the period9904-€2,646-€1,482€80,689-€1,809€52,546-
+ Depreciation and write-downs630----€8,635-
Operating cash flow (approximation)-€2,646-€1,482€80,689-€1,809€61,182-
Investment in fixed assets (approximation)---€0€27,837-
Change in cash--€462-€1,525€1,740€119,958▲ 69×

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Historical observation

In July 2024, 2,684 companies had the same profile as PHILANDRA has now. Two years later, 97.3% were still going and 1.3% had gone bankrupt.

  • Small
  • 5 to 10 years old
  • solvency 10 to 30%
  • a profit of 5% of the balance sheet or more
97.3% was still going
1.2% stopped otherwise
1.3% went bankrupt

Another 0.1% stopped without a precise date, possibly only after those two years.

That fits the bankruptcy probability of PHILANDRA 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.

The companies in ten equal groups, from the lowest to the highest expected share
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 2,684 companies, not a prediction for PHILANDRA. 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.

Filings with the National Bank (5)
Financial year Type Filed Reference Document
31-12-2025 micro format 12-10-2026 2026-00553505 PDF
31-12-2024 micro format 19-06-2025 2025-00151984 PDF
31-12-2023 micro format 29-08-2024 2024-00401206 PDF
31-12-2022 micro format 23-08-2023 2023-00343842 PDF
31-12-2021 micro format 29-08-2022 2022-20332446 PDF

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