PHILCOTRANS
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 07-07-2026 at the NBB all 33 filings
Turnover
€4.5m▲ 11.3%
2024 · €4.0m
EBIT margin
4.9%▲ 1.0pp
2024 · 3.9%
Net result
€152,750▲ 75.1%
2024 · €87,227
Working capital
€496,066▲ 1.3%
2024 · €489,833
In the rankings
#3 oldest company in Hemiksem, Transport and storage sector#6 company by total assets in Hemiksem, Transport and storage sector#10 employer in Hemiksem
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€4.5m
▲ 11.3%
2025
20182025
Operating result
€218,278
▲ 40.9%
2025
20182025
Net result
€152,750
▲ 75.1%
2025
middle half of the sector
20182025
EBIT margin
4.9%
▲ 1.0pp
2025
20182025
Equity
€496,042
▲ 0.6%
2025
middle half of the sector
20182025
Total assets
€1.1m
▲ 12.3%
2025
middle half of the sector
20182025
Debt
€598,723
▲ 24.3%
2025
20182025
Working capital
€496,066
▲ 1.3%
2025
middle half of the sector
20182025
Solvency
45.3%
▼ 5.3pp
2025
middle half of the sector
20182025
Current ratio
1.83
▼ 0.19
2025
middle half of the sector
20182025
Return on assets (ROA)
14.0%
▲ 5.0pp
2025
highest quarter of the sector
20182025
Staff (FTE)
28.6
▲ 5.5%
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
Turnover€2.6m-€2.8m▲ 5.3%€3.1m▲ 10.2%€3.1m▲ 0.4%€3.2m▲ 3.0%€3.5m▲ 11.4%€4.0m▲ 13.6%€4.5m▲ 11.3%
Operating result€0.1m-€0.2m▲ 98.6%€0.4m▲ 90.5%€0.04m▼ 91.0%€0.2m▲ 304%€0.2m▲ 55.8%€0.2m▼ 36.7%€0.2m▲ 40.9%
Net result€0.07m-€0.2m▲ 133%€0.3mabove the sector's middle half▲ 93.0%€0.03mwithin the sector's middle half▼ 91.2%€0.1mwithin the sector's middle half▲ 292%€0.2mwithin the sector's middle half▲ 62.4%€0.09mwithin the sector's middle half▼ 47.2%€0.2mwithin the sector's middle half▲ 75.1%
EBIT margin4.3%-8.2%▲ 3.8pp14.1%▲ 5.9pp1.3%▼ 12.8pp5.0%▲ 3.7pp6.9%▲ 2.0pp3.9%▼ 3.1pp4.9%▲ 1.0pp
Equity€0.4m-€0.6m▲ 36.8%€0.5mwithin the sector's middle half▼ 18.1%€0.5mwithin the sector's middle half▲ 5.6%€0.5mwithin the sector's middle half▼ 0.7%€0.5mwithin the sector's middle half▲ 0.1%€0.5mwithin the sector's middle half▲ 0.5%€0.5mwithin the sector's middle half▲ 0.6%
Total assets€1.2m-€0.8m▼ 28.0%€1.3mwithin the sector's middle half▲ 51.8%€1.6mwithin the sector's middle half▲ 23.2%€1.1mwithin the sector's middle half▼ 28.3%€1.1mwithin the sector's middle half▼ 5.0%€1.0mwithin the sector's middle half▼ 9.1%€1.1mwithin the sector's middle half▲ 12.3%
Debt€0.8m-€0.3m▼ 64.1%€0.8m▲ 200%€1.1m▲ 33.4%€0.6m▼ 40.9%€0.6m▼ 8.9%€0.5m▼ 17.1%€0.6m▲ 24.3%
Working capital€0.4m-€0.6m▲ 40.0%€0.5mwithin the sector's middle half▼ 18.4%€0.5mwithin the sector's middle half▲ 5.2%€0.5mwithin the sector's middle half▲ 0.1%€0.5mwithin the sector's middle half▲ 0.2%€0.5mwithin the sector's middle half▲ 1.3%€0.5mwithin the sector's middle half▲ 1.3%
Solvency35.8%-68.0%▲ 32.2pp36.7%within the sector's middle half▼ 31.3pp31.4%within the sector's middle half▼ 5.2pp43.5%within the sector's middle half▲ 12.1pp45.8%within the sector's middle half▲ 2.3pp50.6%within the sector's middle half▲ 4.8pp45.3%within the sector's middle half▼ 5.3pp
Current ratio1.56-3.20▲ 1.641.57within the sector's middle half▼ 1.631.46within the sector's middle half▼ 0.111.77within the sector's middle half▲ 0.321.84within the sector's middle half▲ 0.072.02within the sector's middle half▲ 0.181.83within the sector's middle half▼ 0.19
Return on assets (ROA)5.6%-18.3%▲ 12.6pp23.2%above the sector's middle half▲ 5.0pp1.7%within the sector's middle half▼ 21.6pp9.0%within the sector's middle half▲ 7.4pp15.4%above the sector's middle half▲ 6.4pp8.9%within the sector's middle half▼ 6.5pp14.0%above the sector's middle half▲ 5.0pp
Staff (FTE)37.6-34.8▼ 7.4%34.2within the sector's middle half▼ 1.7%35.4within the sector's middle half▲ 3.5%30within the sector's middle half▼ 15.3%27.4within the sector's middle half▼ 8.7%27.1within the sector's middle half▼ 1.1%28.6within the sector's middle half▲ 5.5%
above
within
below
The sector band is the middle half of the companies in Land transport and transport via pipelines (NACE 49). 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 41% higher than in 2024. It is a recovery after the fall in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €1.1m
Equity
€496,042 ▲ 0.6%
Debt
€598,723 ▲ 24.3%
Debt's share of the balance-sheet total rises from 49.4% to 54.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€222,251▲
2024 · €163,218
Cash flow
€156,724▲
2024 · €95,563
Debt to equity
1.21▲
2024 · 0.98
ROE
30.8%▲
2024 · 17.7%
Interest coverage
over 100▲
2024 · 72.93
Debt ≤ 1 year
€598,699▲
2024 · €480,994
Income taxes
€61,894▼
2024 · €63,071
Customer credit
43 days▼
2024 · 59 days
Supplier credit
41 days▼
2024 · 41 days
Staff costs
€1.9m▼
2024 · €1.9m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 35 | 29 | 28 | 30 | 33 |
| full-time | 32 | 27 | 26 | 28 | 31 |
| part-time | 3 | 2 | 2 | 2 | 2 |
| in full-time equivalents | 34.4 | 28.6 | 27.6 | 29.7 | 32.7 |
| Average over the year, in full-time equivalents | 35.4 | 30 | 27.4 | 27.1 | 28.6 |
| On a permanent contract | 35 | 29 | 28 | 30 | 33 |
| Joined | 3 | 2 | 6 | 9 | 8 |
| Left | 4 | 8 | 7 | 7 | 5 |
| Agency workers, average number | 0.3 | 4.5 | - | 13 | 17.4 |
| Training hours | - | - | - | 34 | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €33,344 | - | - | €33,344 | - |
| Depreciation and write-downs of the year | €14,043 | €11,594 | €8,336 | €8,336 | €3,974 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Auditor
The auditor is AUDIT VAN GOOLEN.
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Fee for the audit | €4,336 | €2,223 | €2,500 | €2,750 | €2,850 |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Subsidies and aid
Flemish government
2024 · 1 entry · €682 awarded · €682 paidSchemes
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €3.1m | €3.2m | €3.6m | €4.0m | €4.5m | ▲ 11.6% |
| Turnover70 | €2.6m | €2.8m | €3.1m | €3.1m | €3.2m | €3.5m | €4.0m | €4.5m | ▲ 11.3% |
| Other operating income74 | - | - | - | €0.004m | €0.01m | €0.01m | €0.01m | €0.03m | ▲ 120% |
| Non-recurring operating income76A | - | - | - | - | €0.003m | €0.06m | - | €0.002m | - |
| Operating charges60/66A | - | - | - | €3.0m | €3.0m | €3.3m | €3.9m | €4.3m | ▲ 10.5% |
| Goods for resale, raw materials and consumables60 | - | - | - | €0.3m | €0.3m | €0.3m | €0.4m | €0.4m | ▲ 4.5% |
| Purchases600/8 | - | - | - | €0.3m | €0.3m | €0.3m | €0.4m | €0.4m | ▲ 4.5% |
| Services and other goods61 | - | - | - | €0.9m | €1.0m | €1.2m | €1.6m | €2.0m | ▲ 28.0% |
| Remuneration, social security and pensions62 | - | - | - | €1.8m | €1.8m | €1.7m | €1.9m | €1.9m | ▼ 2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.07m | €0.03m | €0.01m | €0.01m | €0.01m | €0.008m | €0.008m | €0.004m | ▼ 52.3% |
| Other operating charges640/8 | - | - | - | €0.009m | €0.003m | €0.01m | €0.009m | €0.006m | ▼ 35.8% |
| Operating profit (loss)9901 | €0.1m | €0.2m | €0.4m | €0.04m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 40.9% |
| Financial income75/76B | - | - | - | €0.01m | €1 | €81 | €135 | €0 | ▼ 100.0% |
| Recurring financial income75 | - | - | €0 | €0.01m | €1 | €81 | €135 | €0 | ▼ 100.0% |
| Other financial income752/9 | - | - | - | €0.01m | €1 | €81 | €135 | €0 | ▼ 100.0% |
| Financial charges65/66B | - | - | - | €0.002m | €0.002m | €0.004m | €0.005m | €0.004m | ▼ 23.0% |
| Recurring financial charges65 | €0.003m | €0.001m | €0.02m | €0.002m | €0.002m | €0.004m | €0.005m | €0.004m | ▼ 23.0% |
| Debt charges650 | €0.002m | €438 | €267 | €0.001m | €0.001m | €0.002m | €0.002m | €0.002m | ▼ 32.3% |
| Other financial charges652/9 | - | - | - | €0.001m | €0.002m | €0.003m | €0.002m | €0.002m | ▼ 14.6% |
| Profit (loss) for the period before taxes9903 | €0.1m | €0.2m | €0.4m | €0.05m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 42.8% |
| Income taxes67/77 | €0.05m | €0.07m | €0.1m | €0.02m | €0.05m | €0.08m | €0.06m | €0.06m | ▼ 1.9% |
| Taxes670/3 | - | - | - | €0.03m | €0.06m | €0.08m | €0.06m | €0.07m | ▲ 11.0% |
| Tax adjustments and reversals of tax provisions77 | - | - | - | €0.005m | €0.002m | €0.005m | - | €0.008m | - |
| Profit (loss) for the period9904 | €0.07m | €0.2m | €0.3m | €0.03m | €0.1m | €0.2m | €0.09m | €0.2m | ▲ 75.1% |
| Profit (loss) for the period to be appropriated9905 | €0.07m | €0.2m | €0.3m | €0.03m | €0.1m | €0.2m | €0.09m | €0.2m | ▲ 75.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.2m | €0.8m | €1.3m | €1.6m | €1.1m | €1.1m | €1.0m | €1.1m | ▲ 12.3% |
| Fixed assets21/28 | €0.05m | €0.02m | €0.01m | €0.03m | €0.02m | €0.01m | €0.004m | - | - |
| Tangible fixed assets22/27 | €0.05m | €0.02m | €0.01m | €0.03m | €0.02m | €0.01m | €0.004m | - | - |
| Furniture and vehicles24 | - | - | - | €186 | - | - | €0.004m | - | - |
| Leasing and similar rights25 | - | - | - | €0.03m | €0.02m | €0.01m | - | - | - |
| Financial fixed assets28 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | - | - | - |
| Other financial fixed assets284/8 | - | - | - | €0.001m | €0.001m | €0.001m | - | - | - |
| Amounts receivable and cash guarantees285/8 | - | - | - | €0.001m | €0.001m | €0.001m | - | - | - |
| Current assets29/58 | €1.1m | €0.8m | €1.3m | €1.5m | €1.1m | €1.1m | €1.0m | €1.1m | ▲ 12.8% |
| Amounts receivable within one year40/41 | €0.6m | €0.7m | €1.1m | €0.6m | €0.6m | €0.7m | €0.8m | €0.7m | ▼ 14.8% |
| Trade receivables40 | - | - | - | €0.05m | €0.4m | €0.6m | €0.6m | €0.5m | ▼ 19.0% |
| Other amounts receivable41 | - | - | - | €0.6m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 5.7% |
| Cash at bank and in hand54/58 | €0.5m | €0.08m | €0.2m | €0.9m | €0.5m | €0.4m | €0.2m | €0.4m | ▲ 125% |
| Deferred charges and accrued income490/1 | - | - | - | €0.004m | €0.004m | €0.004m | €0.003m | €0.004m | ▲ 33.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.2m | €0.8m | €1.3m | €1.6m | €1.1m | €1.1m | €1.0m | €1.1m | ▲ 12.3% |
| Equity10/15 | €0.4m | €0.6m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | ▲ 0.6% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.3m | €0.3m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Non-distributable reserves130/1 | - | - | - | €0.007m | €0.007m | €0.007m | €0.007m | €0.007m | = |
| Legal reserve130 | - | - | - | €0.007m | €0.007m | €0.007m | €0.007m | €0.007m | = |
| Distributable reserves133 | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Profit (loss) carried forward14 | €0.09m | €0.2m | €0.05m | €0.005m | €0.002m | €0.002m | €0.004m | €0.007m | ▲ 67.2% |
| Amounts payable17/49 | €0.8m | €0.3m | €0.8m | €1.1m | €0.6m | €0.6m | €0.5m | €0.6m | ▲ 24.3% |
| Amounts payable after more than one year17 | €0.02m | €0.01m | €0.004m | €0.02m | €0.01m | €0.005m | - | - | - |
| Financial debts170/4 | - | - | - | €0.02m | €0.01m | €0.005m | - | - | - |
| Leasing and similar obligations172 | - | - | - | €0.02m | €0.01m | €0.005m | - | - | - |
| Amounts payable within one year42/48 | €0.7m | €0.3m | €0.8m | €1.1m | €0.6m | €0.6m | €0.5m | €0.6m | ▲ 24.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.01m | €0.008m | €0.008m | - | - | - |
| Financial debts43 | - | - | - | €0.02m | €0.03m | €0.03m | €0.03m | €0.03m | ▼ 0.5% |
| Credit institutions430/8 | - | - | - | €0.02m | €0.03m | €0.03m | €0.03m | €0.03m | ▼ 0.5% |
| Trade debts44 | €0.3m | €0.09m | €0.3m | €0.9m | €0.3m | €0.2m | €0.2m | €0.3m | ▲ 21.7% |
| Suppliers440/4 | - | - | - | €0.9m | €0.3m | €0.2m | €0.2m | €0.3m | ▲ 21.7% |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 3.3% |
| Remuneration and social security454/9 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 3.3% |
| Other amounts payable47/48 | - | - | - | - | €0.1m | €0.2m | €0.09m | €0.2m | ▲ 76.8% |
| Accrued charges and deferred income492/3 | - | - | - | €222 | €219 | €0.001m | €0.001m | €24 | ▼ 95.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €65,827 | €153,674 | €296,557 | €25,997 | €101,781 | €165,281 | €87,227 | €152,750 | ▲ 75.1% |
| + Depreciation and write-downs630 | €67,764 | €26,676 | €10,400 | €14,043 | €11,594 | €8,336 | €8,336 | €3,974 | ▼ 52.3% |
| Operating cash flow (approximation) | €133,591 | €180,351 | €306,957 | €40,040 | €113,375 | €173,617 | €95,563 | €156,724 | ▲ 64.0% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€33,344 | €0 | €135 | €565 | - | - |
| Change in cash | - | -€463,284 | €121,874 | €684,446 | -€350,468 | -€168,060 | -€177,595 | €237,830 | - |
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, 20,136 companies had the same profile as PHILCOTRANS has now. Two years later, 95.0% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.0%
was still going
4.7%
stopped otherwise
0.2%
went bankrupt
That fits the bankruptcy probability of PHILCOTRANS 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 20,136 companies, not a prediction for PHILCOTRANS. 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 33 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 07-07-2026 | 2026-00262172 | |
| 31-12-2024 | full format | 11-07-2025 | 2025-00266477 | |
| 31-12-2023 | full format | 08-07-2024 | 2024-00230717 | |
| 31-12-2022 | full format | 12-07-2023 | 2023-00241443 | |
| 31-12-2021 | full format | 08-07-2022 | 2022-20171426 | |
| 31-12-2020 | full format | 22-06-2021 | 2021-23000356 | |
| 31-12-2019 | full format | 01-07-2020 | 2020-24700315 | |
| 31-12-2018 | full format | 17-07-2019 | 2019-34200403 | |
| 31-12-2017 | full format | 27-06-2018 | 2018-25800074 | |
| 31-12-2016 | full format | 19-07-2017 | 2017-34700583 |