PHILERIC
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 29 days after the deadline Filed on 29 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00451118.
Annual accounts 2025 filed on 29-08-2026 at the NBB all 9 filings
Turnover
≈ €280,000
Estimated: probably between €230,000 and €370,000
EBIT margin
Not included in this filing
Net result
€18,266▲ 48.8%
2024 · €12,276
Working capital
€99,810▲ 19.5%
2024 · €83,526
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€31,754
▲ 112%
2025
20182025
Net result
€18,266
▲ 48.8%
2025
middle half of the sector
20182025
Equity
€101,842
▲ 21.9%
2025
highest quarter of the sector
20182025
Total assets
€118,194
▲ 24.1%
2025
middle half of the sector
20182025
Debt
€16,352
▲ 40.1%
2025
20182025
Working capital
€99,810
▲ 19.5%
2025
highest quarter of the sector
20182025
Solvency
86.2%
▼ 1.6pp
2025
highest quarter of the sector
20182025
Current ratio
7.10
▼ 1.05
2025
highest quarter of the sector
20182025
Return on assets (ROA)
15.5%
▲ 2.6pp
2025
middle half of the sector
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€10,402--€1,488€6,079€31,266▲ 414%€25,683▼ 17.9%€17,961▼ 30.1%€14,995▼ 16.5%€31,754▲ 112%
Net result€7,796--€2,938€5,847within the sector's middle half€28,400within the sector's middle half▲ 386%€14,782within the sector's middle half▼ 48.0%€11,593within the sector's middle half▼ 21.6%€12,276within the sector's middle half▲ 5.9%€18,266within the sector's middle half▲ 48.8%
Equity€13,617-€10,679▼ 21.6%€16,526within the sector's middle half▲ 54.8%€44,926within the sector's middle half▲ 172%€59,707within the sector's middle half▲ 32.9%€71,300within the sector's middle half▲ 19.4%€83,576within the sector's middle half▲ 17.2%€101,842above the sector's middle half▲ 21.9%
Total assets€36,132-€27,804▼ 23.0%€28,851below the sector's middle half▲ 3.8%€47,578within the sector's middle half▲ 64.9%€72,465within the sector's middle half▲ 52.3%€90,387within the sector's middle half▲ 24.7%€95,245below the sector's middle half▲ 5.4%€118,194within the sector's middle half▲ 24.1%
Debt€22,515-€17,125▼ 23.9%€12,325▼ 28.0%€2,652▼ 78.5%€12,758▲ 381%€19,087▲ 49.6%€11,669▼ 38.9%€16,352▲ 40.1%
Working capital€11,984-€7,218▼ 39.8%€14,692within the sector's middle half▲ 104%€43,804above the sector's middle half▲ 198%€58,987above the sector's middle half▲ 34.7%€70,848above the sector's middle half▲ 20.1%€83,526within the sector's middle half▲ 17.9%€99,810above the sector's middle half▲ 19.5%
Solvency37.7%-38.4%▲ 0.7pp57.3%above the sector's middle half▲ 18.9pp94.4%above the sector's middle half▲ 37.1pp82.4%above the sector's middle half▼ 12.0pp78.9%above the sector's middle half▼ 3.5pp87.7%above the sector's middle half▲ 8.9pp86.2%above the sector's middle half▼ 1.6pp
Current ratio1.53-1.42▼ 0.112.19within the sector's middle half▲ 0.7717.52above the sector's middle half▲ 15.335.62above the sector's middle half▼ 11.894.71above the sector's middle half▼ 0.918.16above the sector's middle half▲ 3.457.10above the sector's middle half▼ 1.05
Return on assets (ROA)21.6%--10.6%▼ 32.1pp20.3%above the sector's middle half▲ 30.8pp59.7%above the sector's middle half▲ 39.4pp20.4%above the sector's middle half▼ 39.3pp12.8%within the sector's middle half▼ 7.6pp12.9%within the sector's middle half▲ 0.1pp15.5%within the sector's middle half▲ 2.6pp
Staff (FTE)3-
above
within
below
The sector band is the middle half of the companies in Food and beverage service activities (NACE 56). 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 112% higher than in 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 €118,194
Fixed assets
€2,032 ▲ 41×
Current assets
€116,162 ▲ 22.0%
Equity and liabilities €118,194
Equity
€101,842 ▲ 21.9%
Debt
€16,352 ▲ 40.1%
Debt's share of the balance-sheet total rises from 12.3% to 13.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€33,137▲
2024 · €15,397
Cash flow
€19,649▲
2024 · €12,678
Quick ratio
7.02▼
2024 · 8.04
Debt to equity
0.16▲
2024 · 0.14
ROE
17.9%▲
2024 · 14.7%
Interest coverage
10.59▲
2024 · 6.69
Debt ≤ 1 year
€16,352▲
2024 · €11,669
Income taxes
€10,359▲
2024 · €436
Staff costs
€52,482▲
2024 · €40,807
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 | - | - | - | - | €3,365 |
| Depreciation and write-downs of the year | €712 | €402 | €268 | €402 | €1,383 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €14,654 | €31,257 | €41,248 | €40,807 | €52,482 | ▲ 28.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,152 | €1,627 | €1,627 | €712 | €402 | €268 | €402 | €1,383 | ▲ 244% |
| Other operating charges640/8 | - | - | - | €496 | €435 | €1,220 | €1,011 | €474 | ▼ 53.1% |
| Gross operating margin9900 | €52,666 | €21,967 | €14,542 | €47,128 | €57,777 | €60,697 | €57,215 | €86,093 | ▲ 50.5% |
| Operating profit (loss)9901 | €10,402 | -€1,488 | €6,079 | €31,266 | €25,683 | €17,961 | €14,995 | €31,754 | ▲ 112% |
| Financial income75/76B | - | - | - | - | €13 | €4 | €19 | - | - |
| Recurring financial income75 | €28 | - | - | - | €13 | €4 | €19 | - | - |
| Financial charges65/66B | - | - | - | €1,114 | €979 | €963 | €2,302 | €3,129 | ▲ 35.9% |
| Recurring financial charges65 | €830 | €799 | €232 | €1,114 | €979 | €963 | €2,302 | €3,129 | ▲ 35.9% |
| Profit (loss) for the period before taxes9903 | €9,600 | -€2,287 | €5,847 | €30,152 | €24,717 | €17,002 | €12,712 | €28,625 | ▲ 125% |
| Income taxes67/77 | €1,804 | €651 | - | €1,752 | €9,935 | €5,409 | €436 | €10,359 | ▲ 24× |
| Profit (loss) for the period9904 | €7,796 | -€2,938 | €5,847 | €28,400 | €14,782 | €11,593 | €12,276 | €18,266 | ▲ 48.8% |
| Profit (loss) for the period to be appropriated9905 | €7,796 | -€2,938 | €5,847 | €28,400 | €14,782 | €11,593 | €12,276 | €18,266 | ▲ 48.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €36,132 | €27,804 | €28,851 | €47,578 | €72,465 | €90,387 | €95,245 | €118,194 | ▲ 24.1% |
| Formation expenses20 | €934 | €518 | €104 | - | - | - | - | - | - |
| Fixed assets21/28 | €699 | €2,943 | €1,730 | €1,122 | €720 | €452 | €50 | €2,032 | ▲ 41× |
| Intangible fixed assets21 | - | - | - | €0 | - | - | - | - | - |
| Tangible fixed assets22/27 | €649 | €2,893 | €1,680 | €1,072 | €670 | €402 | - | €1,982 | - |
| Plant, machinery and equipment23 | - | - | - | €1,072 | €670 | €402 | - | - | - |
| Furniture and vehicles24 | - | - | - | - | - | - | - | €1,982 | - |
| Financial fixed assets28 | €50 | €50 | €50 | €50 | €50 | €50 | €50 | €50 | = |
| Current assets29/58 | €34,499 | €24,343 | €27,017 | €46,456 | €71,745 | €89,935 | €95,195 | €116,162 | ▲ 22.0% |
| Stocks and contracts in progress3 | €1,559 | €1,102 | €1,167 | €1,679 | €1,736 | €1,515 | €1,352 | €1,390 | ▲ 2.8% |
| Stocks30/36 | - | - | - | €1,679 | €1,736 | €1,515 | €1,352 | €1,390 | ▲ 2.8% |
| Amounts receivable within one year40/41 | €9,728 | €9,582 | €13,519 | €10,383 | €32,080 | €36,864 | €40,655 | €38,965 | ▼ 4.2% |
| Other amounts receivable41 | - | - | - | €10,383 | €32,080 | €36,864 | €40,655 | €38,965 | ▼ 4.2% |
| Cash at bank and in hand54/58 | €22,656 | €13,103 | €12,155 | €34,032 | €37,529 | €51,556 | €53,188 | €75,594 | ▲ 42.1% |
| Deferred charges and accrued income490/1 | - | - | - | €362 | €400 | - | - | €213 | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €36,132 | €27,804 | €28,851 | €47,578 | €72,465 | €90,387 | €95,245 | €118,194 | ▲ 24.1% |
| Equity10/15 | €13,617 | €10,679 | €16,526 | €44,926 | €59,707 | €71,300 | €83,576 | €101,842 | ▲ 21.9% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | - | - | €18,600 | - | - | - | - | - |
| Issued capital100 | - | - | - | €18,600 | - | - | - | - | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €52,700 | €64,976 | €83,242 | ▲ 28.1% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | - | - | - |
| Legal reserve130 | - | - | - | €1,860 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | - | - | - | €50,840 | €64,976 | €83,242 | ▲ 28.1% |
| Profit (loss) carried forward14 | €5,557 | €2,619 | €8,466 | €24,466 | €39,247 | - | - | - | - |
| Amounts payable17/49 | €22,515 | €17,125 | €12,325 | €2,652 | €12,758 | €19,087 | €11,669 | €16,352 | ▲ 40.1% |
| Amounts payable within one year42/48 | €22,515 | €17,125 | €12,325 | €2,652 | €12,758 | €19,087 | €11,669 | €16,352 | ▲ 40.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | - | €8,000 | - |
| Financial debts43 | - | - | - | - | - | €8,000 | €8,000 | - | - |
| Credit institutions430/8 | - | - | - | - | - | €8,000 | €8,000 | - | - |
| Trade debts44 | €5,272 | - | - | - | - | - | €179 | €2,243 | ▲ 13× |
| Suppliers440/4 | - | - | - | - | - | - | €179 | €2,243 | ▲ 13× |
| Taxes, remuneration and social security45 | - | - | - | €1,675 | €12,758 | €11,087 | €3,490 | €6,109 | ▲ 75.0% |
| Taxes450/3 | - | - | - | - | €11,050 | €9,363 | €1,228 | €2,158 | ▲ 75.7% |
| Remuneration and social security454/9 | - | - | - | €1,675 | €1,708 | €1,724 | €2,262 | €3,951 | ▲ 74.7% |
| Other amounts payable47/48 | - | - | - | €977 | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,796 | -€2,938 | €5,847 | €28,400 | €14,782 | €11,593 | €12,276 | €18,266 | ▲ 48.8% |
| + Depreciation and write-downs630 | €1,152 | €1,627 | €1,627 | €712 | €402 | €268 | €402 | €1,383 | ▲ 244% |
| Operating cash flow (approximation) | €8,948 | -€1,311 | €7,474 | €29,112 | €15,184 | €11,861 | €12,678 | €19,649 | ▲ 55.0% |
| Investment in fixed assets (approximation) | - | -€3,871 | -€414 | -€104 | €0 | €0 | €0 | -€3,365 | - |
| Change in cash | - | -€9,553 | -€948 | €21,877 | €3,497 | €14,027 | €1,632 | €22,406 | ▲ 14× |
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, 34,693 companies had the same profile as PHILERIC has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of PHILERIC itself: 0.2% 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 34,693 companies, not a prediction for PHILERIC. 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 (9)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 29-08-2026 | 2026-00451118 | |
| 31-12-2024 | full format | 28-08-2025 | 2025-00421718 | |
| 31-12-2023 | micro format | 27-09-2024 | 2024-00478575 | |
| 31-12-2022 | micro format | 05-10-2023 | 2023-00472463 | |
| 31-12-2021 | micro format | 30-08-2022 | 2022-20343164 | |
| 31-12-2020 | micro format | 21-09-2021 | 2021-67800176 | |
| 31-12-2019 | micro format | 17-09-2020 | 2020-54400410 | |
| 31-12-2018 | micro format | 29-08-2019 | 2019-57000515 | |
| 31-12-2017 | micro format | 27-08-2018 | 2018-52600585 |