POSTILION
ActiveFinancials · financial year 2026, micro format
Annual accounts 2026 filed on 29-10-2026 at the NBB all 30 filings
Turnover
≈ €1.8m
Estimated: probably between €1.3m and €2.7m
Total assets
€2.0m▼ 14.0%
2025 · €2.3m
Net result
€568,411▲ 16×
2025 · €35,989
Working capital
-€370,989▲ 73.1%
2025 · -€1.4m
In the rankings
#10 company by total assets in Flemish Brabant, Postal and courier sector#10 company by equity in Flemish Brabant, Postal and courier sector
Multi-year overview
2019 to 2026, 8 financial yearsOperating result
€789,379
▲ 17×
2026
20192026
Net result
€568,411
▲ 16×
2026
20192026
Equity
€673,477
▲ 541%
2026
20192026
Total assets
€2.0m
▼ 14.0%
2026
20192026
Debt
€1.1m
▼ 51.0%
2026
20192026
Working capital
-€370,989
▲ 73.1%
2026
20192026
Solvency
33.6%
▲ 29.1pp
2026
20192026
Current ratio
0.11
▲ 0.08
2026
20192026
Return on assets (ROA)
28.4%
▲ 26.9pp
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result€0.005m--€0.003m€0.007m-€0.01m-€0.005m▲ 52.1%€0.007m€0.05m▲ 513%€0.8m▲ 17×
Net result-€0.02m-€0.08m-€0.01mbelow the sector's middle half-€0.04mbelow the sector's middle half▼ 306%-€0.02mbelow the sector's middle half▲ 44.4%-€0.005mbelow the sector's middle half▲ 79.0%€0.04mabove the sector's middle half€0.6m▲ 16×
Equity€0.07m-€0.1m▲ 119%€0.1mabove the sector's middle half▼ 6.8%€0.1mabove the sector's middle half▼ 29.7%€0.07mabove the sector's middle half▼ 23.5%€0.07mwithin the sector's middle half▼ 6.4%€0.1mabove the sector's middle half▲ 52.1%€0.7m▲ 541%
Total assets€2.2m-€2.1m▼ 1.6%€2.2mabove the sector's middle half▲ 1.0%€2.4mabove the sector's middle half▲ 8.7%€2.6mabove the sector's middle half▲ 8.5%€2.4mabove the sector's middle half▼ 5.6%€2.3mabove the sector's middle half▼ 3.6%€2.0m▼ 14.0%
Debt€2.0m-€1.9m▼ 5.5%€2.0m▲ 1.8%€2.2m▲ 11.8%€2.4m▲ 10.3%€2.3m▼ 5.6%€2.2m▼ 5.3%€1.1m▼ 51.0%
Working capital-€0.7m--€0.7m▲ 2.4%-€0.8mbelow the sector's middle half▼ 20.7%-€1.2mbelow the sector's middle half▼ 47.1%-€1.4mbelow the sector's middle half▼ 15.7%-€1.4mbelow the sector's middle half▼ 1.5%-€1.4mbelow the sector's middle half▲ 3.7%-€0.4m▲ 73.1%
Solvency3.1%-6.9%▲ 3.8pp6.3%below the sector's middle half▼ 0.5pp4.1%below the sector's middle half▼ 2.2pp2.9%below the sector's middle half▼ 1.2pp2.9%below the sector's middle half=4.5%below the sector's middle half▲ 1.7pp33.6%▲ 29.1pp
Current ratio0.06-0.06=0.04below the sector's middle half▼ 0.020.03below the sector's middle half▼ 0.010.05below the sector's middle half▲ 0.020.03below the sector's middle half▼ 0.020.03below the sector's middle half=0.11▲ 0.08
Return on assets (ROA)-0.8%-3.7%▲ 4.5pp-0.5%within the sector's middle half▼ 4.2pp-1.7%within the sector's middle half▼ 1.3pp-0.9%within the sector's middle half▲ 0.8pp-0.2%within the sector's middle half▲ 0.7pp1.5%within the sector's middle half▲ 1.7pp28.4%▲ 26.9pp
above
within
below
The sector band is the middle half of the companies in Postal and courier activities (NACE 53). 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 2026 is over 17 times that of 2025 and the highest since 2022. It is the fourth rise in a row.
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
2026 in colour, 2025 as the grey bar beneath
Assets €2.0m
Fixed assets
€2.0m ▼ 14.2%
Current assets
€45,709 ▼ 0.7%
Equity and liabilities €2.0m
Equity
€673,477 ▲ 541%
Provisions
€267,182 ▲ 391%
Debt
€1.1m ▼ 51.0%
Debt's share of the balance-sheet total falls from 93.1% to 53.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€891,464▲
2025 · €161,892
Cash flow
€670,496▲
2025 · €152,170
Debt to equity
1.58▼
2025 · 20.62
ROE
84.4%▲
2025 · 34.3%
Interest coverage
83.81▲
2025 · 13.52
Debt ≤ 1 year
€416,698▼
2025 · €1.4m
Debt > 1 year
€643,118▼
2025 · €738,855
Income taxes
€139▼
2025 · €257
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Mortgages, amount registered | €55,000 | €55,000 | €55,000 | €55,000 | €55,000 |
| Mortgage mandates | - | €1.3m | €1.3m | €1.3m | €1.3m |
| Carrying value of the mortgaged assets | €962,615 | €2.4m | €2.3m | €2.2m | €1.9m |
Source: notes to the 2022 to 2026 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | €282,753 | €289,441 | €8,259 | €27,545 | €14,483 |
| Depreciation and write-downs of the year | €101,575 | €119,355 | €124,928 | €116,181 | €102,084 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €6,096 | €298 | €860,584 | ▲ 2,892× |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €85,911 | €85,289 | €87,464 | €101,575 | €119,355 | €124,928 | €116,181 | €102,084 | ▼ 12.1% |
| Other operating charges640/8 | - | - | - | €24,069 | €19,553 | €24,443 | €20,950 | €21,046 | ▲ 0.5% |
| Non-recurring operating charges66A | - | - | - | - | - | - | - | €14,004 | - |
| Gross operating margin9900 | €108,726 | €100,629 | €115,551 | €115,128 | €133,870 | €156,834 | €182,843 | €926,513 | ▲ 407% |
| Operating profit (loss)9901 | €5,252 | -€2,630 | €7,304 | -€10,516 | -€5,038 | €7,463 | €45,711 | €789,379 | ▲ 17× |
| Financial income75/76B | - | - | - | €1 | €584 | €7 | €77 | €3,612 | ▲ 47× |
| Recurring financial income75 | €1 | €398 | €0 | €1 | €584 | €7 | €77 | €2,926 | ▲ 38× |
| Non-recurring financial income76B | - | - | - | - | - | - | - | €686 | - |
| Financial charges65/66B | - | - | - | €32,978 | €20,937 | €15,063 | €11,972 | €11,726 | ▼ 2.1% |
| Recurring financial charges65 | €24,207 | €21,629 | €19,965 | €32,978 | €20,937 | €15,063 | €11,972 | €10,636 | ▼ 11.2% |
| Non-recurring financial charges66B | - | - | - | - | - | - | - | €1,089 | - |
| Profit (loss) for the period before taxes9903 | -€18,954 | €77,342 | -€12,661 | -€43,493 | -€25,392 | -€7,593 | €33,816 | €781,266 | ▲ 23× |
| Transfer from deferred taxes780 | - | - | - | €2,845 | €2,845 | €2,845 | €2,431 | €2,431 | = |
| Transfer to deferred taxes680 | - | - | - | - | - | - | - | €215,146 | - |
| Income taxes67/77 | €286 | €257 | €216 | €100 | €109 | - | €257 | €139 | ▼ 45.9% |
| Profit (loss) for the period9904 | -€16,395 | €79,931 | -€10,031 | -€40,748 | -€22,656 | -€4,748 | €35,989 | €568,411 | ▲ 16× |
| Transfer from tax-exempt reserves789 | - | - | - | €5,525 | €5,525 | €5,525 | €4,720 | €4,720 | = |
| Transfer to tax-exempt reserves689 | - | - | - | - | - | - | - | €645,438 | - |
| Profit (loss) for the period to be appropriated9905 | -€10,870 | €85,456 | -€4,506 | -€35,223 | -€17,131 | €777 | €40,710 | -€72,306 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.2m | €2.1m | €2.2m | €2.4m | €2.6m | €2.4m | €2.3m | €2.0m | ▼ 14.0% |
| Fixed assets21/28 | €2.1m | €2.1m | €2.1m | €2.3m | €2.5m | €2.4m | €2.3m | €2.0m | ▼ 14.2% |
| Tangible fixed assets22/27 | €2.1m | €2.1m | €2.1m | €2.3m | €2.5m | €2.4m | €2.3m | €2.0m | ▼ 14.2% |
| Land and buildings22 | - | - | - | €2.1m | €2.0m | €1.9m | €1.8m | €1.5m | ▼ 16.4% |
| Plant, machinery and equipment23 | - | - | - | €0.003m | €0.003m | €0.002m | €0.002m | €0.001m | ▼ 25.5% |
| Furniture and vehicles24 | - | - | - | €197 | €0.03m | €0.02m | €0.02m | €0.02m | ▲ 4.5% |
| Leasing and similar rights25 | - | - | - | - | €0.03m | €0.02m | €0.01m | - | - |
| Assets under construction and advance payments27 | - | - | - | €0.3m | €0.5m | €0.5m | €0.4m | €0.4m | ▼ 3.3% |
| Current assets29/58 | €0.05m | €0.05m | €0.04m | €0.04m | €0.07m | €0.05m | €0.05m | €0.05m | ▼ 0.7% |
| Amounts receivable within one year40/41 | €0.04m | €0.04m | €0.03m | €0.03m | €0.06m | €0.04m | €0.04m | €0.03m | ▼ 4.4% |
| Trade receivables40 | - | - | - | €0.009m | €0.04m | €0.03m | €0.005m | €0.001m | ▼ 83.6% |
| Other amounts receivable41 | - | - | - | €0.02m | €0.02m | €0.01m | €0.03m | €0.03m | ▲ 9.8% |
| Cash at bank and in hand54/58 | €0.004m | €0.008m | €0.001m | €0.01m | €0.006m | €0.004m | €0.005m | €0.009m | ▲ 76.2% |
| Deferred charges and accrued income490/1 | - | - | - | €0.003m | €0.005m | €0.004m | €0.005m | €0.003m | ▼ 46.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.2m | €2.1m | €2.2m | €2.4m | €2.6m | €2.4m | €2.3m | €2.0m | ▼ 14.0% |
| Equity10/15 | €0.07m | €0.1m | €0.1m | €0.1m | €0.07m | €0.07m | €0.1m | €0.7m | ▲ 541% |
| Contributions10/11 | €0.06m | €0.06m | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.9m | ▲ 302% |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.006m | €0.006m | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.7m | ▲ 606% |
| Distributable reserves133 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Profit (loss) carried forward14 | -€0.2m | -€0.2m | -€0.2m | -€0.2m | -€0.2m | -€0.2m | -€0.2m | -€0.2m | ▼ 42.8% |
| Provisions and deferred taxes16 | €0.07m | €0.07m | €0.07m | €0.06m | €0.06m | €0.06m | €0.05m | €0.3m | ▲ 391% |
| Deferred taxes168 | - | - | - | €0.06m | €0.06m | €0.06m | €0.05m | €0.3m | ▲ 391% |
| Amounts payable17/49 | €2.0m | €1.9m | €2.0m | €2.2m | €2.4m | €2.3m | €2.2m | €1.1m | ▼ 51.0% |
| Amounts payable after more than one year17 | €1.3m | €1.2m | €1.1m | €0.9m | €0.9m | €0.8m | €0.7m | €0.6m | ▼ 13.0% |
| Financial debts170/4 | - | - | - | €0.9m | €0.9m | €0.8m | €0.7m | €0.6m | ▼ 13.1% |
| Other amounts payable178/9 | - | - | - | - | €0.003m | €0.01m | €0.007m | €0.007m | = |
| Amounts payable within one year42/48 | €0.8m | €0.7m | €0.9m | €1.3m | €1.5m | €1.5m | €1.4m | €0.4m | ▼ 70.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.08m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 0.1% |
| Financial debts43 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Credit institutions430/8 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Trade debts44 | €0.04m | €0.03m | €0.04m | €0.03m | €0.06m | €0.03m | €0.03m | €0.02m | ▼ 47.9% |
| Suppliers440/4 | - | - | - | €0.03m | €0.06m | €0.03m | €0.03m | €0.02m | ▼ 47.9% |
| Taxes, remuneration and social security45 | - | - | - | €0.004m | €0.01m | €0.005m | €0.005m | €0.003m | ▼ 43.4% |
| Taxes450/3 | - | - | - | €0.004m | €0.01m | €0.005m | €0.005m | €0.003m | ▼ 43.4% |
| Other amounts payable47/48 | - | - | - | €0.9m | €1.0m | €1.0m | €1.0m | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.002m | €0.004m | €0.002m | €0.001m | €0.001m | ▲ 14.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€16,395 | €79,931 | -€10,031 | -€40,748 | -€22,656 | -€4,748 | €35,989 | €568,411 | ▲ 16× |
| + Depreciation and write-downs630 | €85,911 | €85,289 | €87,464 | €101,575 | €119,355 | €124,928 | €116,181 | €102,084 | ▼ 12.1% |
| Operating cash flow (approximation) | €69,516 | €165,220 | €77,432 | €60,826 | €96,699 | €120,180 | €152,170 | €670,496 | ▲ 341% |
| Investment in fixed assets (approximation) | - | -€50,642 | -€122,392 | -€282,753 | -€289,441 | -€8,259 | -€27,545 | €222,212 | - |
| Change in cash | - | €4,120 | -€6,808 | €10,018 | -€5,343 | -€2,062 | €1,205 | €3,750 | ▲ 211% |
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 POSTILION 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 POSTILION itself: 0.3% 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 POSTILION. 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 30 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | micro format | 29-10-2026 | 2026-00597307 | |
| 31-03-2025 | micro format | 30-10-2025 | 2025-00562907 | |
| 31-03-2024 | micro format | 16-12-2024 | 2024-00620567 | |
| 31-03-2023 | micro format | 31-10-2023 | 2023-00505914 | |
| 31-03-2022 | micro format | 27-10-2022 | 2022-20484132 | |
| 31-03-2021 | micro format | 17-12-2021 | 2021-81100157 | |
| 31-03-2020 | micro format | 28-10-2020 | 2020-64100003 | |
| 31-03-2019 | micro format | 30-10-2019 | 2019-72000213 | |
| 31-03-2018 | micro format | 03-12-2018 | 2018-73600347 | |
| 31-03-2017 | micro format | 31-10-2017 | 2017-68700210 |