PLASTEC
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 23-07-2026 at the NBB all 31 filings
Turnover
€9.4m
EBIT margin
13.4%
Net result
€894,647▲ 1.5%
2024 · €881,559
Working capital
€2.8m▲ 5.7%
2024 · €2.6m
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
€1.3m
▲ 1.1%
2025
20182025
Net result
€894,647
▲ 1.5%
2025
middle half of the sector
20182025
EBIT margin
no figure
2025
20182025
Equity
€5.5m
▲ 0.8%
2025
middle half of the sector
20182025
Total assets
€9.6m
▲ 0.9%
2025
middle half of the sector
20182025
Debt
€4.1m
▲ 1.1%
2025
20182025
Working capital
€2.8m
▲ 5.7%
2025
middle half of the sector
20182025
Solvency
57.6%
▼ 0.1pp
2025
middle half of the sector
20182025
Current ratio
2.75
▼ 0.38
2025
middle half of the sector
20182025
Return on assets (ROA)
9.3%
▲ 0.1pp
2025
middle half of the sector
20182025
Staff (FTE)
21.1
▼ 3.2%
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€9.4m
Operating result€0.4m-€0.02m▼ 96.3%€0.002m▼ 87.1%€0.8m▲ 420×€1.9m▲ 131%€1.3m▼ 35.1%€1.3m▼ 0.3%€1.3m▲ 1.1%
Net result€0.4m-€0.008m▼ 97.8%€0.04mwithin the sector's middle half▲ 454%€0.6mabove the sector's middle half▲ 13×€1.5mabove the sector's middle half▲ 152%€0.9mwithin the sector's middle half▼ 35.0%€0.9mabove the sector's middle half▼ 6.6%€0.9mwithin the sector's middle half▲ 1.5%
EBIT margin13.4%
Equity€2.7m-€2.7m▲ 0.3%€2.5mabove the sector's middle half▼ 7.7%€2.8mabove the sector's middle half▲ 11.0%€4.1mabove the sector's middle half▲ 48.8%€4.7mwithin the sector's middle half▲ 14.4%€5.5mabove the sector's middle half▲ 16.6%€5.5mwithin the sector's middle half▲ 0.8%
Total assets€5.4m-€5.4m▼ 0.4%€4.8mabove the sector's middle half▼ 12.2%€5.4mabove the sector's middle half▲ 14.1%€6.4mabove the sector's middle half▲ 16.9%€8.5mwithin the sector's middle half▲ 33.4%€9.5mabove the sector's middle half▲ 12.5%€9.6mwithin the sector's middle half▲ 0.9%
Debt€2.7m-€2.7m▼ 0.8%€2.3m▼ 16.4%€2.7m▲ 17.7%€2.2m▼ 16.3%€3.8m▲ 68.7%€4.0m▲ 7.4%€4.1m▲ 1.1%
Working capital€0.8m-€0.8m▼ 3.8%€0.8mwithin the sector's middle half▼ 4.8%€1.1mabove the sector's middle half▲ 46.7%€2.1mabove the sector's middle half▲ 88.0%€0.7mwithin the sector's middle half▼ 68.3%€2.6mabove the sector's middle half▲ 301%€2.8mwithin the sector's middle half▲ 5.7%
Solvency49.6%-49.9%▲ 0.3pp52.5%within the sector's middle half▲ 2.6pp51.1%within the sector's middle half▼ 1.4pp65.0%within the sector's middle half▲ 13.9pp55.7%within the sector's middle half▼ 9.3pp57.7%within the sector's middle half▲ 2.0pp57.6%within the sector's middle half▼ 0.1pp
Current ratio1.46-1.57▲ 0.111.64within the sector's middle half▲ 0.071.64within the sector's middle half=2.51within the sector's middle half▲ 0.871.26within the sector's middle half▼ 1.253.13within the sector's middle half▲ 1.872.75within the sector's middle half▼ 0.38
Return on assets (ROA)6.5%-0.1%▼ 6.3pp0.9%within the sector's middle half▲ 0.8pp10.6%within the sector's middle half▲ 9.7pp22.9%above the sector's middle half▲ 12.3pp11.1%above the sector's middle half▼ 11.7pp9.2%within the sector's middle half▼ 1.9pp9.3%within the sector's middle half▲ 0.1pp
Staff (FTE)27-28.3▲ 4.8%25.7above the sector's middle half▼ 9.2%21.3above the sector's middle half▼ 17.1%22.2above the sector's middle half▲ 4.2%21.1within the sector's middle half▼ 5.0%21.8above the sector's middle half▲ 3.3%21.1within the sector's middle half▼ 3.2%
above
within
below
The sector band is the middle half of the companies in Manufacture of rubber and plastic products (NACE 22). 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 1% 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
Assets €9.6m
Fixed assets
€5.2m ▼ 7.4%
Current assets
€4.4m ▲ 13.1%
Equity and liabilities €9.6m
Equity
€5.5m ▲ 0.8%
Debt
€4.1m ▲ 1.1%
Debt's share of the balance-sheet total rises from 42.3% to 42.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.8m▲
2024 · €1.7m
Cash flow
€1.4m▲
2024 · €1.4m
Quick ratio
1.77▼
2024 · 1.79
Debt to equity
0.73▲
2024 · 0.73
ROE
16.1%▲
2024 · 16.0%
Interest coverage
11.43▲
2024 · 11.04
Debt ≤ 1 year
€1.6m▲
2024 · €1.2m
Debt > 1 year
€2.5m▼
2024 · €2.8m
Income taxes
€274,507▲
2024 · €272,780
Staff costs
€1.7m▲
2024 · €1.5m
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 | 21 | 22 | 22 | 21 | 20 |
| full-time | 21 | 21 | 21 | 20 | 19 |
| part-time | - | 1 | 1 | 1 | 1 |
| in full-time equivalents | 21 | 21.8 | 21.8 | 20.8 | 19.8 |
| Average over the year, in full-time equivalents | 21.3 | 22.2 | 21.1 | 21.8 | 21.1 |
| On a permanent contract | 21 | 22 | 22 | 21 | 20 |
| Joined | 4 | 3 | 2 | 3 | 2 |
| Left | 7 | 2 | 2 | 4 | 3 |
| Agency workers, average number | - | - | 4.4 | - | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Overdue debts
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Overdue social security (RSZ) debts | - | - | €54,918 | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts)
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €1.1m | €938,342 | - | €3.1m | €2.8m |
| Mortgages, amount registered | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 |
| Mortgage mandates | €1.8m | €1.8m | €2.7m | €4.5m | €4.5m |
| Carrying value of the mortgaged assets | €1.7m | €1.7m | €1.7m | €4.6m | €4.4m |
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 | €159,714 | €607,628 | €2.7m | €872,397 | €75,808 |
| Intangible fixed assets | - | - | - | €22,687 | €14,070 |
| Financial fixed assets | €371 | - | - | - | €151 |
| Depreciation and write-downs of the year | €376,973 | €285,646 | €305,174 | €485,316 | €502,060 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | - | - | €9.4m | - | - | - |
| Turnover70 | - | - | - | - | - | €9.4m | - | - | - |
| Other operating income74 | - | - | - | - | - | €0.07m | - | - | - |
| Non-recurring operating income76A | - | - | - | €0.01m | €0.03m | €0.002m | €0.001m | €0.008m | ▲ 11× |
| Operating charges60/66A | - | - | - | - | - | €8.2m | - | - | - |
| Goods for resale, raw materials and consumables60 | - | - | - | - | - | €4.4m | - | - | - |
| Purchases600/8 | - | - | - | - | - | €4.2m | - | - | - |
| Change in stocks: decrease (increase)609 | - | - | - | - | - | €0.2m | - | - | - |
| Services and other goods61 | - | - | - | - | - | €2.0m | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €1.4m | €1.3m | €1.4m | €1.5m | €1.7m | ▲ 17.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.6m | €0.6m | €0.6m | €0.4m | €0.3m | €0.3m | €0.5m | €0.5m | ▲ 3.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | €0.002m | - | - | - |
| Other operating charges640/8 | - | - | - | €0.04m | €0.04m | €0.04m | €0.04m | €0.05m | ▲ 23.5% |
| Gross operating margin9900 | €2.5m | €2.2m | €2.0m | €2.6m | €3.6m | - | €3.3m | €3.6m | ▲ 9.3% |
| Operating profit (loss)9901 | €0.4m | €0.02m | €0.002m | €0.8m | €1.9m | €1.3m | €1.3m | €1.3m | ▲ 1.1% |
| Financial income75/76B | - | - | - | €0.06m | €0.05m | €0.07m | €0.06m | €0.06m | ▼ 2.2% |
| Recurring financial income75 | €0.03m | €0.07m | €0.1m | €0.06m | €0.05m | €0.07m | €0.06m | €0.06m | ▼ 2.2% |
| Other financial income752/9 | - | - | - | - | - | €0.07m | - | - | - |
| Financial charges65/66B | - | - | - | €0.1m | €0.08m | €0.1m | €0.2m | €0.2m | ▼ 1.7% |
| Recurring financial charges65 | €0.1m | €0.09m | €0.09m | €0.1m | €0.08m | €0.1m | €0.2m | €0.2m | ▼ 1.7% |
| Debt charges650 | - | - | - | - | - | €0.05m | - | - | - |
| Other financial charges652/9 | - | - | - | - | - | €0.06m | - | - | - |
| Profit (loss) for the period before taxes9903 | €0.3m | -€12 | €0.04m | €0.8m | €1.9m | €1.2m | €1.2m | €1.2m | ▲ 1.3% |
| Transfer from deferred taxes780 | - | - | - | €0.005m | - | - | - | - | - |
| Income taxes67/77 | €0.001m | €0.001m | €0.002m | €0.2m | €0.5m | €0.3m | €0.3m | €0.3m | ▲ 0.6% |
| Taxes670/3 | - | - | - | - | - | €0.3m | - | - | - |
| Profit (loss) for the period9904 | €0.4m | €0.008m | €0.04m | €0.6m | €1.5m | €0.9m | €0.9m | €0.9m | ▲ 1.5% |
| Transfer from tax-exempt reserves789 | - | - | - | €0.009m | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €0.4m | €0.02m | €0.06m | €0.6m | €1.5m | €0.9m | €0.9m | €0.9m | ▲ 1.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €5.4m | €5.4m | €4.8m | €5.4m | €6.4m | €8.5m | €9.5m | €9.6m | ▲ 0.9% |
| Fixed assets21/28 | €2.8m | €3.2m | €2.8m | €2.6m | €2.9m | €5.2m | €5.7m | €5.2m | ▼ 7.4% |
| Intangible fixed assets21 | €0.02m | €0.004m | - | - | - | - | €0.02m | €0.03m | ▲ 31.4% |
| Tangible fixed assets22/27 | €2.8m | €3.2m | €2.8m | €2.6m | €2.9m | €5.2m | €5.6m | €5.2m | ▼ 7.5% |
| Land and buildings22 | - | - | - | €2.1m | €2.5m | €4.6m | €4.6m | €4.4m | ▼ 4.6% |
| Plant, machinery and equipment23 | - | - | - | €0.4m | €0.3m | €0.5m | €0.9m | €0.7m | ▼ 17.5% |
| Furniture and vehicles24 | - | - | - | €0.1m | €0.1m | €0.1m | €0.2m | €0.1m | ▼ 35.1% |
| Leasing and similar rights25 | - | - | - | €0.01m | €0.005m | - | - | - | - |
| Financial fixed assets28 | €0.05m | €216 | - | €371 | €371 | €371 | €371 | €0.001m | ▲ 40.7% |
| Other financial fixed assets284/8 | - | - | - | - | - | €371 | - | - | - |
| Amounts receivable and cash guarantees285/8 | - | - | - | - | - | €371 | - | - | - |
| Current assets29/58 | €2.6m | €2.2m | €1.9m | €2.8m | €3.4m | €3.2m | €3.9m | €4.4m | ▲ 13.1% |
| Stocks and contracts in progress3 | €1.1m | €1.0m | €0.9m | €1.4m | €1.7m | €1.5m | €1.7m | €1.6m | ▼ 5.5% |
| Stocks30/36 | - | - | - | €1.4m | €1.7m | €1.5m | €1.7m | €1.6m | ▼ 5.5% |
| Raw materials and consumables30/31 | - | - | - | - | - | €1.1m | - | - | - |
| Finished goods33 | - | - | - | - | - | €0.4m | - | - | - |
| Amounts receivable within one year40/41 | €0.9m | €1.0m | €0.7m | €1.0m | €0.6m | €1.0m | €0.7m | €0.7m | = |
| Trade receivables40 | - | - | - | €1.0m | €0.6m | €1.0m | €0.7m | €0.7m | ▼ 3.6% |
| Other amounts receivable41 | - | - | - | €0.002m | - | €250 | - | €0.03m | - |
| Cash at bank and in hand54/58 | €0.6m | €0.1m | €0.3m | €0.5m | €1.1m | €0.7m | €1.5m | €2.1m | ▲ 40.3% |
| Deferred charges and accrued income490/1 | - | - | - | €0.008m | €0.04m | €0.01m | €0.01m | €0.01m | ▲ 3.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €5.4m | €5.4m | €4.8m | €5.4m | €6.4m | €8.5m | €9.5m | €9.6m | ▲ 0.9% |
| Equity10/15 | €2.7m | €2.7m | €2.5m | €2.8m | €4.1m | €4.7m | €5.5m | €5.5m | ▲ 0.8% |
| Contributions10/11 | €1.8m | €1.8m | €1.8m | €1.8m | €1.8m | €1.8m | €1.8m | €1.8m | = |
| Capital10 | - | - | - | €1.8m | €1.8m | €1.8m | €1.8m | €1.8m | = |
| Issued capital100 | - | - | - | €1.8m | €1.8m | €1.8m | €1.8m | €1.8m | = |
| Reserves13 | €0.9m | €0.9m | €0.7m | €1.0m | €1.0m | €1.1m | €1.1m | €1.1m | = |
| Non-distributable reserves130/1 | - | - | - | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | = |
| Legal reserve130 | - | - | - | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | = |
| Tax-exempt reserves132 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Distributable reserves133 | - | - | - | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | = |
| Profit (loss) carried forward14 | €0.001m | - | - | - | €1.4m | €1.9m | €2.7m | €2.7m | ▲ 1.7% |
| Provisions and deferred taxes16 | €0.02m | €0.01m | €0.005m | - | - | - | - | - | - |
| Amounts payable17/49 | €2.7m | €2.7m | €2.3m | €2.7m | €2.2m | €3.8m | €4.0m | €4.1m | ▲ 1.1% |
| Amounts payable after more than one year17 | €0.9m | €1.3m | €1.1m | €0.9m | €0.8m | €1.2m | €2.8m | €2.5m | ▼ 11.2% |
| Financial debts170/4 | - | - | - | €0.9m | €0.8m | €1.2m | €2.8m | €2.5m | ▼ 11.2% |
| Credit institutions173 | - | - | - | - | - | €1.2m | - | - | - |
| Amounts payable within one year42/48 | €1.8m | €1.4m | €1.2m | €1.7m | €1.4m | €2.6m | €1.2m | €1.6m | ▲ 28.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.1m | €0.2m | €0.2m | €0.3m | €0.3m | ▲ 1.4% |
| Financial debts43 | - | - | - | €0.3m | €0.4m | €0.1m | - | - | - |
| Credit institutions430/8 | - | - | - | €0.3m | €0.4m | €0.1m | - | - | - |
| Trade debts44 | €0.6m | €0.5m | €0.3m | €0.4m | €0.1m | €1.4m | €0.5m | €0.2m | ▼ 61.8% |
| Suppliers440/4 | - | - | - | €0.4m | €0.1m | €1.4m | €0.5m | €0.2m | ▼ 61.8% |
| Taxes, remuneration and social security45 | - | - | - | €0.4m | €0.6m | €0.5m | €0.4m | €0.3m | ▼ 29.1% |
| Taxes450/3 | - | - | - | €0.3m | €0.5m | €0.3m | €0.1m | €0.09m | ▼ 36.3% |
| Remuneration and social security454/9 | - | - | - | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | ▼ 24.5% |
| Other amounts payable47/48 | - | - | - | €0.5m | €0.1m | €0.4m | €0.1m | €0.9m | ▲ 750% |
| Accrued charges and deferred income492/3 | - | - | - | €237 | €0.006m | €43 | €35 | €35 | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.4m | €0.008m | €0.04m | €0.6m | €1.5m | €0.9m | €0.9m | €0.9m | ▲ 1.5% |
| + Depreciation and write-downs630 | €0.6m | €0.6m | €0.6m | €0.4m | €0.3m | €0.3m | €0.5m | €0.5m | ▲ 3.5% |
| Operating cash flow (approximation) | €0.9m | €0.6m | €0.6m | €1.0m | €1.7m | €1.2m | €1.4m | €1.4m | ▲ 2.2% |
| Investment in fixed assets (approximation) | - | -€1.0m | -€0.2m | -€0.2m | -€0.6m | -€2.6m | -€0.9m | -€0.08m | ▲ 90.8% |
| Change in cash | - | -€0.5m | €0.1m | €0.2m | €0.6m | -€0.4m | €0.8m | €0.6m | ▼ 20.7% |
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 PLASTEC 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 PLASTEC 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 PLASTEC. 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 31 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 23-07-2026 | 2026-00322205 | |
| 31-12-2024 | abbreviated format | 15-07-2025 | 2025-00277281 | |
| 31-12-2023 | full format | 19-07-2024 | 2024-00269844 | |
| 31-12-2022 | abbreviated format | 17-07-2023 | 2023-00251493 | |
| 31-12-2021 | abbreviated format | 12-07-2022 | 2022-20182809 | |
| 31-12-2020 | abbreviated format | 26-06-2021 | 2021-27200235 | |
| 31-12-2019 | abbreviated format | 26-06-2020 | 2020-21200372 | |
| 31-12-2018 | abbreviated format | 23-08-2019 | 2019-50300419 | |
| 31-12-2017 | abbreviated format | 28-05-2018 | 2018-14100113 | |
| 31-12-2016 | abbreviated format | 14-08-2017 | 2017-43600109 |