POSTSCRIPTUM
ActiveFinancials · financial year 2026, micro format
Annual accounts 2026 filed on 06-10-2026 at the NBB all 25 filings
Turnover
≈ €280,000
Estimated: probably between €220,000 and €360,000
EBIT margin
Not included in this filing
Net result
€18,039
2025 · -€31,410
Working capital
€17,252
2025 · -€14,183
Multi-year overview
2019 to 2026, 8 financial yearsOperating result
€28,146
2026
20192026
Net result
€18,039
2026
20192026
Equity
€51,263
▲ 54.3%
2026
20192026
Total assets
€335,513
▲ 12.8%
2026
20192026
Debt
€284,250
▲ 7.6%
2026
20192026
Working capital
€17,252
2026
20192026
Solvency
15.3%
▲ 4.1pp
2026
20192026
Current ratio
1.06
▲ 0.11
2026
20192026
Return on assets (ROA)
5.4%
▲ 15.9pp
2026
20192026
Staff (FTE)
1
▲ 25.0%
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result€0.3m-€0.05m▼ 84.2%-€0.02m€0.06m€0.009m▼ 85.9%-€0.2m-€0.03m▲ 89.8%€0.03m
Net result€0.2m-€0.03m▼ 85.1%-€0.02mbelow the sector's middle half€0.05mwithin the sector's middle half-€138below the sector's middle half-€0.3mbelow the sector's middle half▼ 184,960%-€0.03mbelow the sector's middle half▲ 87.7%€0.02m
Equity€0.3m-€0.3m▲ 12.4%€0.3mwithin the sector's middle half▼ 6.3%€0.3mwithin the sector's middle half▲ 17.1%€0.3mwithin the sector's middle half=€0.06mbelow the sector's middle half▼ 79.8%€0.03mbelow the sector's middle half▼ 48.6%€0.05m▲ 54.3%
Total assets€1.2m-€0.8m▼ 38.1%€0.7mwithin the sector's middle half▼ 4.4%€0.6mwithin the sector's middle half▼ 22.2%€0.6mwithin the sector's middle half▲ 3.4%€0.3mwithin the sector's middle half▼ 46.2%€0.3mbelow the sector's middle half▼ 5.1%€0.3m▲ 12.8%
Debt€1.0m-€0.5m▼ 51.6%€0.5m▼ 3.3%€0.2m▼ 45.9%€0.3m▲ 7.8%€0.2m▼ 5.7%€0.3m▲ 6.2%€0.3m▲ 7.6%
Working capital€0.2m-€0.3m▲ 12.2%€0.3mwithin the sector's middle half▲ 13.9%€0.3mwithin the sector's middle half▲ 0.6%€0.3mwithin the sector's middle half▼ 10.6%€0.001mbelow the sector's middle half▼ 99.5%-€0.01mbelow the sector's middle half€0.02m
Solvency21.1%-38.3%▲ 17.2pp37.6%within the sector's middle half▼ 0.8pp56.6%within the sector's middle half▲ 19.0pp54.7%within the sector's middle half▼ 1.9pp20.6%within the sector's middle half▼ 34.1pp11.2%below the sector's middle half▼ 9.5pp15.3%▲ 4.1pp
Current ratio1.25-1.60▲ 0.351.86within the sector's middle half▲ 0.252.49within the sector's middle half▲ 0.642.06within the sector's middle half▼ 0.431.01below the sector's middle half▼ 1.060.95below the sector's middle half▼ 0.061.06▲ 0.11
Return on assets (ROA)17.6%-4.2%▼ 13.3pp-2.5%below the sector's middle half▼ 6.7pp8.3%within the sector's middle half▲ 10.8pp0.0%below the sector's middle half▼ 8.3pp-81.2%below the sector's middle half▼ 81.2pp-10.6%below the sector's middle half▲ 70.7pp5.4%▲ 15.9pp
Staff (FTE)0.9-0.8▼ 11.1%0.8below the sector's middle half=0.8below the sector's middle half=1.2below the sector's middle half▲ 50.0%1.8below the sector's middle half▲ 50.0%0.8below the sector's middle half▼ 55.6%1▲ 25.0%
above
within
below
The sector band is the middle half of the companies in Architectural and engineering activities; technical testing and analysis (NACE 71). 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 a profit of €28,146, after a loss of €25,010 in 2025.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €335,513
Fixed assets
€34,010 ▼ 28.3%
Current assets
€301,502 ▲ 20.6%
Equity and liabilities €335,513
Equity
€51,263 ▲ 54.3%
Debt
€284,250 ▲ 7.6%
Debt's share of the balance-sheet total falls from 88.8% to 84.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€41,542▲
2025 · -€9,053
Cash flow
€31,436▲
2025 · -€15,453
Debt to equity
5.54▼
2025 · 7.95
ROE
35.2%▲
2025 · -94.5%
Interest coverage
4.09▲
2025 · -1.19
Debt ≤ 1 year
€284,250▲
2025 · €264,199
Staff costs
€68,965▲
2025 · €63,002
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 | 30-06-2026 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 2 | 2 | 1 | 1 |
| full-time | - | 1 | 1 | - | - |
| part-time | 1 | 1 | 1 | 1 | 1 |
| in full-time equivalents | 0.8 | 1.8 | 1.8 | 0.8 | 0.8 |
| Average over the year, in full-time equivalents | 0.8 | 1.2 | 1.8 | 0.8 | 0.8 |
| On a permanent contract | 1 | 1 | 1 | 1 | 1 |
| Joined | - | 1 | - | - | 0 |
| Left | - | 2 | - | - | 1 |
Source: social balance sheet in the 2022 to 2026 annual accounts
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 | 30-06-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,749 | €11,839 | €38,657 | - | - |
| Financial fixed assets | - | €25 | - | - | - |
| Depreciation and write-downs of the year | €12,142 | €13,868 | €19,108 | €15,956 | €13,396 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Subsidies and aid
Federal government
2024 · 1 entry · €12,100 in total| Year | Department | Transactions | Amount |
|---|---|---|---|
| 2024 | FOD Mobiliteit | 1 | €12,100 |
Budget allocations
European Union, budget
2024 to 2025 · 2 entries · €312,125 in total| Year | Entries | Awarded |
|---|---|---|
| 2025 | 1 | €244,528 |
| 2024 | 1 | €67,597 |
Projects
OTHER EXPENDITURE RELATED TO BUILDINGS
AUTRES DÉPENSES LIÉES AUX IMMEUBLES
Public contracts
1 award · 2017
UCA 17/004 Assignments involving studies and overseeing of works' performance or assistance in the fields of architecture (lot 1) and building engineering (lot 2) for the Council's buildings.: Assignments involving studies and overseeing works' performance or assistance in the field of architecture
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €75,532 | €72,818 | €75,857 | €63,002 | €68,965 | ▲ 9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €22,069 | €11,771 | €13,367 | €12,142 | €13,868 | €19,108 | €15,956 | €13,396 | ▼ 16.0% |
| Other operating charges640/8 | - | - | - | €19,539 | €20,167 | €22,615 | €23,022 | €22,675 | ▼ 1.5% |
| Non-recurring operating charges66A | - | - | - | - | - | - | - | €6,145 | - |
| Gross operating margin9900 | €324,161 | €120,069 | €52,128 | €170,254 | €115,733 | -€127,434 | €76,971 | €139,328 | ▲ 81.0% |
| Operating profit (loss)9901 | €313,242 | €49,534 | -€22,429 | €63,040 | €8,880 | -€245,015 | -€25,010 | €28,146 | - |
| Financial income75/76B | - | - | - | €0 | - | €159 | €1,228 | €49 | ▼ 96.0% |
| Recurring financial income75 | €84 | €124 | €9,313 | €0 | - | €159 | €1,228 | €49 | ▼ 96.0% |
| Financial charges65/66B | - | - | - | €6,535 | €8,333 | €9,694 | €7,628 | €10,156 | ▲ 33.1% |
| Recurring financial charges65 | €4,928 | €4,088 | €5,171 | €6,535 | €8,333 | €9,694 | €7,628 | €10,156 | ▲ 33.1% |
| Profit (loss) for the period before taxes9903 | €308,399 | €45,570 | -€18,288 | €56,505 | €546 | -€254,550 | -€31,410 | €18,039 | - |
| Income taxes67/77 | €93,198 | €13,540 | - | €9,823 | €684 | - | - | - | - |
| Profit (loss) for the period9904 | €215,201 | €32,030 | -€18,288 | €46,682 | -€138 | -€254,550 | -€31,410 | €18,039 | - |
| Profit (loss) for the period to be appropriated9905 | €215,201 | €32,030 | -€18,288 | €46,682 | -€138 | -€254,550 | -€31,410 | €18,039 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.2m | €0.8m | €0.7m | €0.6m | €0.6m | €0.3m | €0.3m | €0.3m | ▲ 12.8% |
| Fixed assets21/28 | €0.02m | €0.04m | €0.06m | €0.05m | €0.04m | €0.06m | €0.05m | €0.03m | ▼ 28.3% |
| Tangible fixed assets22/27 | €0.02m | €0.04m | €0.06m | €0.04m | €0.04m | €0.06m | €0.05m | €0.03m | ▼ 28.8% |
| Plant, machinery and equipment23 | - | - | - | €0.03m | €0.02m | €0.02m | €0.02m | €0.01m | ▼ 18.9% |
| Furniture and vehicles24 | - | - | - | €0.02m | €0.02m | €0.04m | €0.03m | €0.02m | ▼ 34.1% |
| Financial fixed assets28 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Current assets29/58 | €1.2m | €0.7m | €0.7m | €0.5m | €0.5m | €0.3m | €0.3m | €0.3m | ▲ 20.6% |
| Amounts receivable within one year40/41 | €0.5m | €0.3m | €0.5m | €0.3m | €0.4m | €0.2m | €0.2m | €0.2m | ▲ 45.1% |
| Trade receivables40 | - | - | - | €0.3m | €0.4m | €0.2m | €0.1m | €0.2m | ▲ 35.4% |
| Other amounts receivable41 | - | - | - | €0.05m | €0.02m | €0.02m | €0.04m | €0.06m | ▲ 82.4% |
| Cash at bank and in hand54/58 | €0.7m | €0.4m | €0.1m | €0.2m | €0.1m | €0.001m | €0.06m | €0.03m | ▼ 47.4% |
| Deferred charges and accrued income490/1 | - | - | - | €0.01m | €0.02m | €0.02m | €0.02m | €0.02m | ▲ 24.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.2m | €0.8m | €0.7m | €0.6m | €0.6m | €0.3m | €0.3m | €0.3m | ▲ 12.8% |
| Equity10/15 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.06m | €0.03m | €0.05m | ▲ 54.3% |
| Contributions10/11 | €0.008m | - | - | €0.008m | €0.008m | €0.008m | €0.008m | €0.008m | = |
| Reserves13 | €0.009m | €0.009m | €0.009m | €0.009m | €0.009m | €0.009m | €0.009m | €0.009m | = |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Tax-exempt reserves132 | - | - | - | €0.007m | €0.007m | €0.007m | €0.007m | €0.007m | = |
| Profit (loss) carried forward14 | €0.2m | €0.3m | €0.3m | €0.3m | €0.3m | €0.05m | €0.02m | €0.04m | ▲ 106% |
| Amounts payable17/49 | €1.0m | €0.5m | €0.5m | €0.2m | €0.3m | €0.2m | €0.3m | €0.3m | ▲ 7.6% |
| Amounts payable after more than one year17 | - | €0.02m | €0.09m | €0.04m | €0.002m | - | - | - | - |
| Financial debts170/4 | - | - | - | €0.04m | €0.002m | - | - | - | - |
| Amounts payable within one year42/48 | €1.0m | €0.5m | €0.4m | €0.2m | €0.3m | €0.2m | €0.3m | €0.3m | ▲ 7.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.06m | €0.03m | €0.002m | - | - | - |
| Financial debts43 | - | - | - | - | €0.1m | €0.1m | €0.2m | €0.2m | = |
| Credit institutions430/8 | - | - | - | - | €0.1m | €0.1m | €0.2m | €0.2m | = |
| Trade debts44 | €0.4m | €0.3m | €0.3m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 11.7% |
| Suppliers440/4 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 11.7% |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.02m | €0.01m | €0.01m | €0.02m | ▲ 64.0% |
| Taxes450/3 | - | - | - | €0.01m | €0.004m | €0.003m | €0.003m | €0.01m | ▲ 213% |
| Remuneration and social security454/9 | - | - | - | €0.01m | €0.01m | €0.01m | €0.009m | €0.01m | ▲ 11.0% |
| Accrued charges and deferred income492/3 | - | - | - | €147 | - | - | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €215,201 | €32,030 | -€18,288 | €46,682 | -€138 | -€254,550 | -€31,410 | €18,039 | - |
| + Depreciation and write-downs630 | €22,069 | €11,771 | €13,367 | €12,142 | €13,868 | €19,108 | €15,956 | €13,396 | ▼ 16.0% |
| Operating cash flow (approximation) | €237,269 | €43,801 | -€4,920 | €58,824 | €13,730 | -€235,442 | -€15,453 | €31,436 | - |
| Investment in fixed assets (approximation) | - | -€31,679 | -€32,123 | -€1,749 | -€11,864 | -€38,657 | €0 | €0 | - |
| Change in cash | - | -€261,793 | -€292,460 | €26,714 | -€55,891 | -€101,009 | €61,063 | -€29,621 | - |
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, 3,818 companies had the same profile as POSTSCRIPTUM has now. Two years later, 95.1% were still going and 1.0% had gone bankrupt.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
95.1%
was still going
3.7%
stopped otherwise
1.0%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of POSTSCRIPTUM 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 3,818 companies, not a prediction for POSTSCRIPTUM. 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 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2026 | micro format | 06-10-2026 | 2026-00547680 | |
| 30-06-2025 | full format | 10-12-2025 | 2025-00578935 | |
| 30-06-2024 | full format | 04-12-2024 | 2024-00609554 | |
| 30-06-2023 | full format | 29-11-2023 | 2023-00517764 | |
| 30-06-2022 | full format | 15-12-2022 | 2022-20537711 | |
| 30-06-2021 | full format | 13-12-2021 | 2021-80100149 | |
| 30-06-2020 | full format | 09-12-2020 | 2020-75100147 | |
| 30-06-2019 | full format | 04-12-2019 | 2019-75300529 | |
| 30-06-2018 | full format | 20-12-2018 | 2018-75200275 | |
| 30-06-2017 | full format | 18-12-2017 | 2017-72200171 |