Financials · financial year 2025, micro format
Annual accounts 2025 filed on 28-10-2025 PDF all 6 filings
Equity
€2,242▼ 53.8%
2024 · €4,851
Total assets
€2,242▼ 72.2%
2024 · €8,079
Net result
-€2,609▲ 73.9%
2024 · -€10,000
Working capital
€2,217
2023 · -€2,153
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
-€2,571
▲ 73.9%
2025
20202025
Net result
-€2,609
▲ 73.9%
2025
lowest quarter of the sector
20202025
Equity
€2,242
▼ 53.8%
2025
lowest quarter of the sector
20202025
Total assets
€2,242
▼ 72.2%
2025
lowest quarter of the sector
20202025
Debt
no figure
2025
20202025
Working capital
no figure
2025
20202025
Solvency
no figure
2025
20202025
Current ratio
no figure
2025
20202025
Return on assets (ROA)
no figure
2025
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€10,231-€61,272▲ 499%€10,123▼ 83.5%-€31,012-€9,834▲ 68.3%-€2,571▲ 73.9%
Net result€7,251within the sector's middle half-€60,713above the sector's middle half▲ 737%€8,081within the sector's middle half▼ 86.7%-€31,294below the sector's middle half-€10,000below the sector's middle half▲ 68.0%-€2,609below the sector's middle half▲ 73.9%
Equity€13,451below the sector's middle half-€25,664within the sector's middle half▲ 90.8%€33,745within the sector's middle half▲ 31.5%€2,451below the sector's middle half▼ 92.7%€4,851below the sector's middle half▲ 97.9%€2,242below the sector's middle half▼ 53.8%
Total assets€34,434below the sector's middle half-€102,227within the sector's middle half▲ 197%€110,409within the sector's middle half▲ 8.0%€44,996below the sector's middle half▼ 59.2%€8,079below the sector's middle half▼ 82.0%€2,242below the sector's middle half▼ 72.2%
Debt€20,983-€76,563▲ 265%€76,664▲ 0.1%€42,545▼ 44.5%€3,228▼ 92.4%
Working capital€11,217within the sector's middle half-€25,664within the sector's middle half▲ 129%€32,941within the sector's middle half▲ 28.4%-€2,153below the sector's middle half€2,217below the sector's middle half
Solvency39.1%within the sector's middle half-25.1%within the sector's middle half▼ 14.0pp30.6%within the sector's middle half▲ 5.5pp5.4%below the sector's middle half▼ 25.1pp60.0%within the sector's middle half▲ 54.6pp
Current ratio1.53within the sector's middle half-1.34within the sector's middle half▼ 0.201.43within the sector's middle half▲ 0.090.95below the sector's middle half▼ 0.481.69within the sector's middle half▲ 0.74
Return on assets (ROA)21.1%above the sector's middle half-59.4%above the sector's middle half▲ 38.3pp7.3%within the sector's middle half▼ 52.1pp-69.5%below the sector's middle half▼ 76.9pp-123.8%below the sector's middle half▼ 54.2pp
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 a loss of €2,571, smaller than the loss of €9,834 in 2024.
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 €2,242
Fixed assets
€893 ▼ 66.1%
Current assets
€1,349 ▼ 75.2%
Key figures and ratios
EBITDA
-€830▲
2024 · -€7,864
Cash flow
-€868▲
2024 · -€8,029
Interest coverage
-7.98▲
2024 · -47.55
The ratios are withheld because a balance sheet total of €2,242 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €1,034 | €4,878 | - | - |
| Depreciation and write-downs of the year | €230 | €1,078 | €1,970 | €1,741 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,466 | €2,234 | €230 | €1,078 | €1,970 | €1,741 | ▼ 11.6% |
| Other operating charges640/8 | - | - | - | €176 | - | - | - |
| Gross operating margin9900 | €15,031 | €63,538 | €10,353 | -€29,758 | -€7,864 | -€830 | ▲ 89.4% |
| Operating profit (loss)9901 | €10,231 | €61,272 | €10,123 | -€31,012 | -€9,834 | -€2,571 | ▲ 73.9% |
| Financial income75/76B | - | - | €137 | €3 | - | €66 | - |
| Recurring financial income75 | - | €2,004 | €137 | €3 | - | €66 | - |
| Financial charges65/66B | - | - | €159 | €285 | €165 | €104 | ▼ 37.1% |
| Recurring financial charges65 | €1,093 | €25 | €159 | €285 | €165 | €104 | ▼ 37.1% |
| Profit (loss) for the period before taxes9903 | €9,138 | €63,251 | €10,101 | -€31,294 | -€10,000 | -€2,609 | ▲ 73.9% |
| Income taxes67/77 | €1,887 | €2,538 | €2,020 | - | - | - | - |
| Profit (loss) for the period9904 | €7,251 | €60,713 | €8,081 | -€31,294 | -€10,000 | -€2,609 | ▲ 73.9% |
| Profit (loss) for the period to be appropriated9905 | €7,251 | €60,713 | €8,081 | -€31,294 | -€10,000 | -€2,609 | ▲ 73.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €34,434 | €102,227 | €110,409 | €44,996 | €8,079 | €2,242 | ▼ 72.2% |
| Fixed assets21/28 | €2,234 | - | €804 | €4,604 | €2,634 | €893 | ▼ 66.1% |
| Tangible fixed assets22/27 | €2,234 | - | €804 | €4,604 | €2,634 | €893 | ▼ 66.1% |
| Plant, machinery and equipment23 | - | - | - | €1,126 | €661 | €196 | ▼ 70.4% |
| Furniture and vehicles24 | - | - | €804 | €3,478 | €1,972 | €697 | ▼ 64.7% |
| Current assets29/58 | €32,200 | €102,227 | €109,605 | €40,392 | €5,445 | €1,349 | ▼ 75.2% |
| Amounts receivable within one year40/41 | €28,770 | €69,828 | €62,327 | €39,375 | €4,471 | €1,349 | ▼ 69.8% |
| Trade receivables40 | - | - | €56,532 | €38,983 | €4,450 | - | - |
| Other amounts receivable41 | - | - | €5,795 | €392 | €21 | €1,349 | ▲ 64× |
| Cash at bank and in hand54/58 | €2,895 | €31,920 | €46,775 | €1,017 | €974 | - | - |
| Deferred charges and accrued income490/1 | - | - | €503 | - | - | - | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €34,434 | €102,227 | €110,409 | €44,996 | €8,079 | €2,242 | ▼ 72.2% |
| Equity10/15 | €13,451 | €25,664 | €33,745 | €2,451 | €4,851 | €2,242 | ▼ 53.8% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €18,600 | €18,600 | = |
| Capital10 | - | - | €6,200 | €6,200 | - | - | - |
| Issued capital100 | - | - | €18,600 | €18,600 | - | - | - |
| Uncalled capital101 | - | - | €12,400 | €12,400 | - | - | - |
| Contributions outside capital11 | - | - | - | - | - | €18,600 | - |
| Other1109/19 | - | - | - | - | - | €18,600 | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | - | - | - |
| Legal reserve130 | - | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | - | - | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €5,391 | €17,604 | €25,685 | -€5,609 | -€15,609 | -€18,218 | ▼ 16.7% |
| Amounts payable17/49 | €20,983 | €76,563 | €76,664 | €42,545 | €3,228 | - | - |
| Amounts payable within one year42/48 | €20,983 | €76,563 | €76,664 | €42,545 | €3,228 | - | - |
| Trade debts44 | €10,890 | €6,445 | €54,093 | €35,705 | - | - | - |
| Suppliers440/4 | - | - | €54,093 | €35,705 | - | - | - |
| Taxes, remuneration and social security45 | - | - | €22,571 | €6,840 | - | - | - |
| Taxes450/3 | - | - | €4,571 | - | - | - | - |
| Remuneration and social security454/9 | - | - | €18,000 | €6,840 | - | - | - |
| Other amounts payable47/48 | - | - | - | - | €3,228 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,251 | €60,713 | €8,081 | -€31,294 | -€10,000 | -€2,609 | ▲ 73.9% |
| + Depreciation and write-downs630 | €4,466 | €2,234 | €230 | €1,078 | €1,970 | €1,741 | ▼ 11.6% |
| Operating cash flow (approximation) | €11,717 | €62,947 | €8,311 | -€30,216 | -€8,029 | -€868 | ▲ 89.2% |
| Investment in fixed assets (approximation) | - | - | - | -€4,878 | -€0 | -€0 | ▼ 2,150% |
| Change in cash | - | €29,025 | €14,855 | -€45,758 | -€43 | - | - |
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, 3,591 companies had the same profile as POS CONSTRUCT has now. Two years later, 87.4% were still going and 3.0% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
87.4%
was still going
9.4%
stopped otherwise
3.0%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of POS CONSTRUCT itself: 1.9% 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 3,591 companies, not a prediction for POS CONSTRUCT. 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 (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2025 | micro format | 28-10-2025 | 2025-00552715 | |
| 31-03-2024 | micro format | 04-10-2024 | 2024-00499655 | |
| 31-03-2023 | micro format | 19-10-2023 | 2023-00489722 | |
| 31-03-2022 | micro format | 17-11-2022 | 2022-20522179 | |
| 31-03-2021 | micro format | 15-10-2021 | 2021-72100207 | |
| 31-03-2020 | micro format | 10-11-2020 | 2020-69700547 |