POINT B
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 17-07-2026 at the NBB all 4 filings
Turnover
≈ €68,000
Estimated: probably between €42,000 and €91,000
Total assets
€199,475▲ 46.0%
2024 · €136,580
Net result
€12,376▼ 75.7%
2024 · €50,867
Working capital
-€65,890▼ 1,627%
2024 · -€3,815
Multi-year overview
2022 to 2025, 4 financial yearsOperating result
€16,905
▼ 73.7%
2025
20222025
Net result
€12,376
▼ 75.7%
2025
middle half of the sector
20222025
Equity
€75,182
▲ 19.7%
2025
middle half of the sector
20222025
Total assets
€199,475
▲ 46.0%
2025
middle half of the sector
20222025
Debt
€124,293
▲ 68.5%
2025
20222025
Working capital
-€65,890
▼ 1,627%
2025
lowest quarter of the sector
20222025
Solvency
37.7%
▼ 8.3pp
2025
middle half of the sector
20222025
Current ratio
0.41
▼ 0.54
2025
lowest quarter of the sector
20222025
Return on assets (ROA)
6.2%
▼ 31.0pp
2025
middle half of the sector
20222025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Operating result-€4,693-€14,584€64,233▲ 340%€16,905▼ 73.7%
Net result-€4,702below the sector's middle half-€11,640within the sector's middle half€50,867above the sector's middle half▲ 337%€12,376within the sector's middle half▼ 75.7%
Equity€298below the sector's middle half-€11,939below the sector's middle half▲ 40×€62,806within the sector's middle half▲ 426%€75,182within the sector's middle half▲ 19.7%
Total assets€2,447below the sector's middle half-€34,804below the sector's middle half▲ 14×€136,580within the sector's middle half▲ 292%€199,475within the sector's middle half▲ 46.0%
Debt€2,149-€22,865▲ 964%€73,774▲ 223%€124,293▲ 68.5%
Working capital€298within the sector's middle half-€11,939within the sector's middle half▲ 40×-€3,815within the sector's middle half-€65,890below the sector's middle half▼ 1,627%
Solvency34.3%within the sector's middle half46.0%within the sector's middle half▲ 11.7pp37.7%within the sector's middle half▼ 8.3pp
Current ratio1.52within the sector's middle half0.95within the sector's middle half▼ 0.570.41below the sector's middle half▼ 0.54
Return on assets (ROA)33.4%above the sector's middle half37.2%above the sector's middle half▲ 3.8pp6.2%within the sector's middle half▼ 31.0pp
above
within
below
The sector band is the middle half of the companies in Office administrative, office support and other business support activities (NACE 82). 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 74% lower than 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 €199,475
Fixed assets
€154,511 ▲ 132%
Current assets
€44,963 ▼ 35.7%
Equity and liabilities €199,475
Equity
€75,182 ▲ 19.7%
Debt
€124,293 ▲ 68.5%
Debt's share of the balance-sheet total rises from 54.0% to 62.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€25,303▼
2024 · €65,981
Cash flow
€20,774▼
2024 · €52,615
Debt to equity
1.65▲
2024 · 1.17
ROE
16.5%▼
2024 · 81.0%
Interest coverage
5.59▼
2024 · 59.56
Debt ≤ 1 year
€110,853▲
2024 · €73,774
Debt > 1 year
€13,440
Income taxes
€0▼
2024 · €12,258
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | €68,369 | €96,288 |
| Financial fixed assets | - | - | - | €0 |
| Depreciation and write-downs of the year | - | - | €1,748 | €8,398 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 · 1 entry · €276 awarded · €276 paidAnnual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €1,748 | €8,398 | ▲ 380% |
| Other operating charges640/8 | €661 | €1,068 | €2,246 | €2,098 | ▼ 6.6% |
| Gross operating margin9900 | -€4,033 | €15,651 | €68,227 | €27,400 | ▼ 59.8% |
| Operating profit (loss)9901 | -€4,693 | €14,584 | €64,233 | €16,905 | ▼ 73.7% |
| Financial income75/76B | - | €195 | €0 | €0 | ▼ 100% |
| Recurring financial income75 | - | €195 | €0 | €0 | ▼ 100% |
| Financial charges65/66B | €8 | €221 | €1,108 | €4,529 | ▲ 309% |
| Recurring financial charges65 | €8 | €221 | €1,108 | €4,529 | ▲ 309% |
| Profit (loss) for the period before taxes9903 | -€4,702 | €14,558 | €63,125 | €12,376 | ▼ 80.4% |
| Income taxes67/77 | - | €2,918 | €12,258 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | -€4,702 | €11,640 | €50,867 | €12,376 | ▼ 75.7% |
| Profit (loss) for the period to be appropriated9905 | -€4,702 | €11,640 | €50,867 | €12,376 | ▼ 75.7% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €2,447 | €34,804 | €136,580 | €199,475 | ▲ 46.0% |
| Fixed assets21/28 | - | - | €66,621 | €154,511 | ▲ 132% |
| Tangible fixed assets22/27 | - | - | €66,621 | €154,511 | ▲ 132% |
| Land and buildings22 | - | - | €66,621 | €152,608 | ▲ 129% |
| Plant, machinery and equipment23 | - | - | - | €1,903 | - |
| Current assets29/58 | €2,447 | €34,804 | €69,959 | €44,963 | ▼ 35.7% |
| Amounts receivable within one year40/41 | €655 | €12,041 | €0 | €10,000 | - |
| Trade receivables40 | €290 | €12,041 | €0 | - | - |
| Other amounts receivable41 | €365 | €0 | - | €10,000 | - |
| Cash at bank and in hand54/58 | €1,792 | €22,763 | €54,909 | €18,363 | ▼ 66.6% |
| Deferred charges and accrued income490/1 | - | - | €15,050 | €16,600 | ▲ 10.3% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €2,447 | €34,804 | €136,580 | €199,475 | ▲ 46.0% |
| Equity10/15 | €298 | €11,939 | €62,806 | €75,182 | ▲ 19.7% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | - | €6,939 | €57,806 | €70,182 | ▲ 21.4% |
| Distributable reserves133 | - | €6,939 | €57,806 | €70,182 | ▲ 21.4% |
| Profit (loss) carried forward14 | -€4,702 | €0 | - | - | - |
| Amounts payable17/49 | €2,149 | €22,865 | €73,774 | €124,293 | ▲ 68.5% |
| Amounts payable after more than one year17 | - | - | - | €13,440 | - |
| Financial debts170/4 | - | - | - | €13,440 | - |
| Amounts payable within one year42/48 | €2,149 | €22,865 | €73,774 | €110,853 | ▲ 50.3% |
| Trade debts44 | €418 | €11,670 | €11,085 | €5,549 | ▼ 49.9% |
| Suppliers440/4 | €418 | €11,670 | €11,085 | €5,549 | ▼ 49.9% |
| Taxes, remuneration and social security45 | - | €9,270 | €20,775 | €18,158 | ▼ 12.6% |
| Taxes450/3 | - | €9,270 | €20,775 | €16,608 | ▼ 20.1% |
| Remuneration and social security454/9 | - | - | - | €1,549 | - |
| Other amounts payable47/48 | €1,731 | €1,924 | €41,914 | €87,146 | ▲ 108% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,702 | €11,640 | €50,867 | €12,376 | ▼ 75.7% |
| + Depreciation and write-downs630 | - | - | €1,748 | €8,398 | ▲ 380% |
| Operating cash flow (approximation) | -€4,702 | €11,640 | €52,615 | €20,774 | ▼ 60.5% |
| Investment in fixed assets (approximation) | - | - | - | -€96,288 | - |
| Change in cash | - | €20,971 | €32,146 | -€36,546 | - |
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, 39,278 companies had the same profile as POINT B has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.8%
was still going
2.3%
stopped otherwise
1.8%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of POINT B itself: 0.7% 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 39,278 companies, not a prediction for POINT B. 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.