Potteau
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 23-06-2026 at the NBB all 49 filings
Turnover
€21.2m▼ 16.2%
2024 · €25.2m
EBIT margin
-7.0%▼ 5.5pp
2024 · -1.5%
Net result
-€1.7m▼ 195%
2024 · -€573,216
Working capital
€727,867▼ 36.0%
2024 · €1.1m
In the rankings
#3 employer in Belgium, Furniture sector#6 oldest company in West Flanders, Furniture sector
Multi-year overview
2018 to 2025, 7 financial yearsTurnover
€21.2m
▼ 16.2%
2025
20182025
Operating result
-€1.5m
▼ 284%
2025
20182025
Net result
-€1.7m
▼ 195%
2025
lowest quarter of the sector
20182025
EBIT margin
-7.0%
▼ 5.5pp
2025
20182025
Equity
€2.4m
▼ 19.9%
2025
middle half of the sector
20182025
Total assets
€11.8m
▼ 8.7%
2025
highest quarter of the sector
20182025
Debt
€9.4m
▼ 5.3%
2025
20182025
Working capital
€727,867
▼ 36.0%
2025
middle half of the sector
20182025
Solvency
20.1%
▼ 2.8pp
2025
lowest quarter of the sector
20182025
Current ratio
1.08
▼ 0.04
2025
middle half of the sector
20182025
Return on assets (ROA)
-14.3%
▼ 9.9pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
137.2
▼ 8.1%
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920212022202320242025
Turnover€24.7m-€19.8m▼ 19.6%€22.0m-€24.6m▲ 12.0%€26.9m▲ 9.5%€25.2m▼ 6.3%€21.2m▼ 16.2%
Operating result-€0.8m--€0.1m▲ 84.9%-€0.09m-€0.3m€0.003m▼ 98.9%-€0.4m-€1.5m▼ 284%
Net result-€1.0m--€0.3m▲ 72.7%-€0.2mbelow the sector's middle half-€0.2mwithin the sector's middle half-€0.1mbelow the sector's middle half-€0.6mbelow the sector's middle half▼ 364%-€1.7mbelow the sector's middle half▼ 195%
EBIT margin-3.3%--0.6%▲ 2.7pp-0.4%-1.3%▲ 1.6pp0.0%▼ 1.2pp-1.5%▼ 1.5pp-7.0%▼ 5.5pp
Equity€3.1m-€2.8m▼ 8.6%€3.5mwithin the sector's middle half-€3.7mabove the sector's middle half▲ 5.7%€3.5mwithin the sector's middle half▼ 3.4%€3.0mwithin the sector's middle half▼ 16.2%€2.4mwithin the sector's middle half▼ 19.9%
Total assets€12.4m-€12.8m▲ 3.2%€13.7mabove the sector's middle half-€15.0mabove the sector's middle half▲ 9.4%€13.4mabove the sector's middle half▼ 10.6%€12.9mabove the sector's middle half▼ 3.6%€11.8mabove the sector's middle half▼ 8.7%
Debt€9.3m-€10.0m▲ 7.2%€10.1m-€11.3m▲ 11.0%€9.9m▼ 12.5%€10.0m▲ 1.0%€9.4m▼ 5.3%
Working capital€2.6m-€2.5m▼ 6.1%€2.4mabove the sector's middle half-€2.2mabove the sector's middle half▼ 9.0%€1.5mwithin the sector's middle half▼ 29.9%€1.1mwithin the sector's middle half▼ 25.8%€0.7mwithin the sector's middle half▼ 36.0%
Solvency24.6%-21.8%▼ 2.8pp25.2%within the sector's middle half-24.4%within the sector's middle half▼ 0.9pp26.3%within the sector's middle half▲ 2.0pp22.9%within the sector's middle half▼ 3.4pp20.1%below the sector's middle half▼ 2.8pp
Current ratio1.31-1.26▼ 0.051.26within the sector's middle half-1.21within the sector's middle half▼ 0.051.16within the sector's middle half▼ 0.051.12within the sector's middle half▼ 0.041.08within the sector's middle half▼ 0.04
Return on assets (ROA)-7.7%--2.0%▲ 5.7pp-1.8%below the sector's middle half-1.3%within the sector's middle half▲ 3.1pp-0.9%within the sector's middle half▼ 2.2pp-4.4%below the sector's middle half▼ 3.5pp-14.3%below the sector's middle half▼ 9.9pp
Staff (FTE)165.6-161.9▼ 2.2%188above the sector's middle half-175.9above the sector's middle half▼ 6.4%161above the sector's middle half▼ 8.5%149.3above the sector's middle half▼ 7.3%137.2above the sector's middle half▼ 8.1%
above
within
below
The sector band is the middle half of the companies in Manufacture of furniture (NACE 31). 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 €1.5m, larger than the loss of €386,951 in 2024. It is the lowest result since 2021.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €11.6m
Fixed assets
€2.0m ▲ 5.6%
Current assets
€9.6m ▼ 10.5%
Equity and liabilities €11.8m
Equity
€2.4m ▼ 19.9%
Provisions
€4,411 ▼ 52.7%
Debt
€9.4m ▼ 5.3%
Debt's share of the balance-sheet total rises from 77.0% to 79.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€979,880▼
2024 · €138,168
Cash flow
-€1.2m▼
2024 · -€48,098
Quick ratio
0.51▼
2024 · 0.56
Debt to equity
3.97▲
2024 · 3.36
ROE
-71.2%▼
2024 · -19.4%
Interest coverage
-5.29▼
2024 · 1.10
Debt ≤ 1 year
€8.9m▼
2024 · €9.6m
Debt > 1 year
€487,335▲
2024 · €386,351
Income taxes
€4,932▼
2024 · €6,119
Customer credit
64 days▲
2024 · 58 days
Supplier credit
97 days▲
2024 · 94 days
Staff costs
€9.3m▼
2024 · €9.9m
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 | 190 | 178 | 162 | 151 | 139 |
| full-time | 160 | 147 | 134 | 123 | 113 |
| part-time | 30 | 31 | 28 | 28 | 26 |
| in full-time equivalents | 183.7 | 171.4 | 155.8 | 145.1 | 133.6 |
| Average over the year, in full-time equivalents | 188 | 175.9 | 161 | 149.3 | 137.2 |
| On a permanent contract | 190 | 178 | 162 | 151 | 139 |
| Joined | 18 | 14 | 9 | 5 | 6 |
| Left | 25 | 26 | 25 | 16 | 18 |
| Agency workers, average number | 3.7 | 4.1 | 3.1 | 1.9 | 2.7 |
| Training hours | 6,302 | 3,595 | 2,110 | 2,487 | 3,562 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €5.4m | €4.5m | €1.9m | €4.4m | €4.7m |
| Pledge on the business | €2.9m | €3.8m | €3.8m | €3.8m | €3.8m |
| Mandates to pledge the business | €522,894 | - | - | - | - |
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 | €89,675 | €171,281 | €88,000 | €236,450 | €502,648 |
| Intangible fixed assets | €577,618 | €466,968 | €16,955 | - | €13,259 |
| Financial fixed assets | - | €175 | - | - | - |
| Depreciation and write-downs of the year | €434,646 | €375,412 | €585,244 | €525,119 | €507,923 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Auditor
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Fee for the audit | €7,377 | €7,675 | €8,074 | €8,074 | €11,000 |
| Other work by the auditor | - | - | €600 | - | €2,007 |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Subsidies and aid
Flemish government
2022 to 2025 · 8 entries · €122,472 awarded · €122,472 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 2 | €12,527 | €12,527 |
| 2024 | 2 | €14,853 | €14,853 |
| 2023 | 2 | €39,122 | €39,122 |
| 2022 | 2 | €55,970 | €55,970 |
European Union, budget
2023 · 2 entries · €158,996 in totalProjects
LABORATORY BUILDING RENOVATION PROJECT: FURNITURE
CUPBOARDS + CUSTOM LABORATORY FU
Public contracts
10 awards · 2018 to 2026
Overheidsopdracht van leveringen bij openbare procedure van de productie van meubels, vitrines met geïntegreerde verlichting, podiums, scheidingswanden, zitbanken en hands-on-elementen, evenals de installatie on site voor de tijdelijke tentoonstelling ‘CHALLENGE’ van het Koninklijk Belgisch Instituut voor Natuurwetenschappen: 2025/CHALLENGE/MOB - 1
Fourniture et pose de parements acoustiques au sein du parcours sensoriel et immersif du Carré Janson de Tournai
OSP - Levering en plaatsing van labo-meubilair
Accord - cadre de fournitures relatif à la fourniture et pose de mobilier de laboratoire (paillasses et hottes chimiques): 2024/06-67240-Eubc - Lot 1
ELLEZELLES 14 - Scénographie de la Maison du Pays des Collines: Mobilier en bois et mobilier industriel
Show 5 more contracts
Gebouw 040 - Labomeubilair en inrichting voor renovatie van zone 2
Opdracht voor Bio-Incubator NV - W9315 - Arenberg Accelerator - Bio-Incubator 5 - Bestek nr. TD/101124, Perceelnummer 15B: Vast labomeubilair: W9315 - Arenberg Accelerator - Bio-Incubator 5 - 1
WC167 - Perceel 15B - Bestek TD/101067
Fourniture et pose du mobilier de scénographie du parcours sensoriel et immersif du Smartcenter de Tournai
Équipement mobilier de laboratoires (Montignies-sur-Sambre)
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 | 2018 | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | €23.2m | €24.6m | €28.4m | €26.5m | €21.7m | ▼ 17.8% |
| Turnover70 | €24.7m | €19.8m | €22.0m | €24.6m | €26.9m | €25.2m | €21.2m | ▼ 16.2% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | - | €0.2m | -€1.0m | €1.0m | €0.4m | €0.09m | ▼ 78.2% |
| Own construction capitalised72 | - | - | €0.3m | €0.3m | - | - | - | - |
| Other operating income74 | - | - | €0.8m | €0.7m | €0.5m | €0.8m | €0.5m | ▼ 39.6% |
| Non-recurring operating income76A | - | - | €0.01m | €0.01m | €0.01m | €0.009m | €0.02m | ▲ 79.0% |
| Operating charges60/66A | - | - | €23.3m | €24.3m | €28.4m | €26.9m | €23.2m | ▼ 13.5% |
| Goods for resale, raw materials and consumables60 | - | - | €9.8m | €10.5m | €13.7m | €13.0m | €9.9m | ▼ 24.2% |
| Purchases600/8 | - | - | €9.6m | €10.4m | €13.9m | €13.3m | €9.5m | ▼ 28.5% |
| Change in stocks: decrease (increase)609 | - | - | €0.2m | €0.2m | -€0.2m | -€0.3m | €0.4m | - |
| Services and other goods61 | - | - | €3.0m | €3.5m | €3.7m | €3.3m | €3.4m | ▲ 2.9% |
| Remuneration, social security and pensions62 | - | - | €9.9m | €9.9m | €11.0m | €9.9m | €9.3m | ▼ 6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.7m | €0.7m | €0.4m | €0.4m | €0.6m | €0.5m | €0.5m | ▼ 3.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €0.001m | -€0.5m | - | - | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | €0.05m | -€0.02m | -€0.06m | -€0.01m | -€0.005m | ▲ 65.6% |
| Other operating charges640/8 | - | - | €0.02m | €0.5m | €0.05m | €0.02m | €0.03m | ▲ 10.8% |
| Operating charges capitalised as restructuring costs649 | - | - | - | - | -€0.6m | - | - | - |
| Non-recurring operating charges66A | - | - | €0.07m | - | €0.03m | - | €0.1m | - |
| Operating profit (loss)9901 | -€0.8m | -€0.1m | -€0.09m | €0.3m | €0.003m | -€0.4m | -€1.5m | ▼ 284% |
| Financial income75/76B | - | - | €0.005m | €0.08m | €0.01m | €0.005m | €0.05m | ▲ 955% |
| Recurring financial income75 | €0.03m | €0.01m | €0.005m | €0.08m | €0.01m | €0.005m | €0.05m | ▲ 955% |
| Income from current assets751 | - | - | €0.001m | €0.01m | €0.009m | €0.001m | €0.003m | ▲ 181% |
| Other financial income752/9 | - | - | €0.005m | €0.06m | €0.006m | €0.004m | €0.05m | ▲ 12× |
| Financial charges65/66B | - | - | €0.2m | €0.2m | €0.1m | €0.2m | €0.2m | ▲ 33.8% |
| Recurring financial charges65 | €0.2m | €0.1m | €0.2m | €0.2m | €0.1m | €0.2m | €0.2m | ▲ 33.8% |
| Debt charges650 | €0.08m | €0.09m | €0.1m | €0.1m | €0.08m | €0.1m | €0.2m | ▲ 47.8% |
| Other financial charges652/9 | - | - | €0.06m | €0.03m | €0.06m | €0.06m | €0.06m | ▲ 4.2% |
| Profit (loss) for the period before taxes9903 | -€1.0m | -€0.3m | -€0.2m | €0.2m | -€0.1m | -€0.6m | -€1.7m | ▼ 197% |
| Income taxes67/77 | -€0.007m | €0.008m | €0.006m | €0.006m | €0.006m | €0.006m | €0.005m | ▼ 19.4% |
| Taxes670/3 | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.005m | ▼ 19.4% |
| Tax adjustments and reversals of tax provisions77 | - | - | €33 | - | - | - | - | - |
| Profit (loss) for the period9904 | -€1.0m | -€0.3m | -€0.2m | €0.2m | -€0.1m | -€0.6m | -€1.7m | ▼ 195% |
| Profit (loss) for the period to be appropriated9905 | -€1.0m | -€0.3m | -€0.2m | €0.2m | -€0.1m | -€0.6m | -€1.7m | ▼ 195% |
| Line | 2018 | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €12.4m | €12.8m | €13.7m | €15.0m | €13.4m | €12.9m | €11.8m | ▼ 8.7% |
| Formation expenses20 | - | - | - | - | €0.5m | €0.3m | €0.2m | ▼ 31.9% |
| Fixed assets21/28 | €1.4m | €0.9m | €2.2m | €2.4m | €2.1m | €1.9m | €2.0m | ▲ 5.6% |
| Intangible fixed assets21 | €0.007m | €0.05m | €1.0m | €1.5m | €1.4m | €1.2m | €1.1m | ▼ 11.7% |
| Tangible fixed assets22/27 | €1.3m | €0.7m | €1.1m | €0.8m | €0.6m | €0.6m | €0.8m | ▲ 46.0% |
| Plant, machinery and equipment23 | - | - | €0.4m | €0.2m | €0.1m | €0.1m | €0.07m | ▼ 36.2% |
| Furniture and vehicles24 | - | - | €0.1m | €0.1m | €0.1m | €0.08m | €0.06m | ▼ 23.6% |
| Leasing and similar rights25 | - | - | €0.4m | €0.3m | €0.2m | €0.2m | €0.5m | ▲ 160% |
| Other tangible fixed assets26 | - | - | €0.1m | €0.2m | €0.2m | €0.2m | €0.1m | ▼ 12.0% |
| Financial fixed assets28 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.09m | ▼ 13.2% |
| Other financial fixed assets284/8 | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.09m | ▼ 13.2% |
| Shares284 | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Amounts receivable and cash guarantees285/8 | - | - | €0.08m | €0.09m | €0.09m | €0.09m | €0.07m | ▼ 16.4% |
| Current assets29/58 | €11.0m | €11.9m | €11.5m | €12.6m | €10.9m | €10.7m | €9.6m | ▼ 10.5% |
| Stocks and contracts in progress3 | €1.8m | €2.1m | €4.7m | €3.5m | €4.6m | €5.3m | €5.0m | ▼ 5.3% |
| Stocks30/36 | - | - | €2.5m | €2.3m | €2.5m | €2.7m | €2.4m | ▼ 13.7% |
| Raw materials and consumables30/31 | - | - | €2.4m | €2.3m | €2.4m | €2.7m | €2.2m | ▼ 18.4% |
| Finished goods33 | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Goods purchased for resale34 | - | - | €0.009m | €0.009m | €0.009m | €0.009m | €0.1m | ▲ 14× |
| Contracts in progress37 | - | - | €2.2m | €1.2m | €2.2m | €2.6m | €2.7m | ▲ 3.5% |
| Amounts receivable within one year40/41 | €6.0m | €6.6m | €5.3m | €7.0m | €5.3m | €4.3m | €4.3m | ▲ 1.0% |
| Trade receivables40 | - | - | €4.9m | €6.8m | €4.9m | €4.0m | €3.7m | ▼ 8.2% |
| Other amounts receivable41 | - | - | €0.3m | €0.2m | €0.3m | €0.2m | €0.6m | ▲ 159% |
| Cash at bank and in hand54/58 | €1.2m | €0.3m | €1.6m | €2.0m | €0.9m | €1.0m | €0.08m | ▼ 92.1% |
| Deferred charges and accrued income490/1 | - | - | €0.03m | €0.04m | €0.05m | €0.08m | €0.1m | ▲ 76.0% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €12.4m | €12.8m | €13.7m | €15.0m | €13.4m | €12.9m | €11.8m | ▼ 8.7% |
| Equity10/15 | €3.1m | €2.8m | €3.5m | €3.7m | €3.5m | €3.0m | €2.4m | ▼ 19.9% |
| Contributions10/11 | €1.4m | €1.4m | €1.5m | €1.5m | €1.5m | €1.5m | €3.0m | ▲ 97.6% |
| Capital10 | - | - | €1.5m | €1.5m | €1.5m | €1.5m | €3.0m | ▲ 97.6% |
| Issued capital100 | - | - | €1.5m | €1.5m | €1.5m | €1.5m | €3.0m | ▲ 97.6% |
| Reserves13 | €1.6m | €1.4m | €1.9m | €2.1m | €2.0m | €1.4m | €0.4m | ▼ 75.6% |
| Non-distributable reserves130/1 | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Legal reserve130 | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Other1319 | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Tax-exempt reserves132 | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Distributable reserves133 | - | - | €1.6m | €1.8m | €1.7m | €1.1m | - | - |
| Profit (loss) carried forward14 | - | - | - | €53 | - | - | -€1.0m | - |
| Provisions and deferred taxes16 | €0.09m | €0.08m | €0.1m | €0.09m | €0.02m | €0.009m | €0.004m | ▼ 52.7% |
| Provisions for liabilities and charges160/5 | - | - | €0.1m | €0.09m | €0.02m | €0.009m | €0.004m | ▼ 52.7% |
| Pensions and similar obligations160 | - | - | €0.1m | €0.09m | €0.02m | €0.009m | €0.004m | ▼ 52.7% |
| Amounts payable17/49 | €9.3m | €10.0m | €10.1m | €11.3m | €9.9m | €10.0m | €9.4m | ▼ 5.3% |
| Amounts payable after more than one year17 | €0.9m | €0.5m | €1.0m | €0.9m | €0.5m | €0.4m | €0.5m | ▲ 26.1% |
| Financial debts170/4 | - | - | €1.0m | €0.9m | €0.5m | €0.4m | €0.5m | ▲ 26.1% |
| Leasing and similar obligations172 | - | - | €0.3m | €0.1m | - | €0.2m | €0.4m | ▲ 167% |
| Credit institutions173 | - | - | €0.8m | €0.8m | €0.5m | €0.2m | €0.06m | ▼ 72.3% |
| Amounts payable within one year42/48 | €8.4m | €9.5m | €9.1m | €10.4m | €9.4m | €9.6m | €8.9m | ▼ 7.4% |
| Current portion of amounts payable after more than one year42 | - | - | €0.7m | €0.4m | €0.4m | €0.3m | €0.3m | ▼ 6.6% |
| Financial debts43 | - | - | €3.6m | €3.3m | €1.1m | €3.7m | €3.9m | ▲ 4.5% |
| Credit institutions430/8 | - | - | €3.6m | €3.3m | €1.1m | €3.7m | €3.9m | ▲ 4.5% |
| Trade debts44 | €2.7m | €2.9m | €2.1m | €2.1m | €2.7m | €3.4m | €2.6m | ▼ 22.0% |
| Suppliers440/4 | - | - | €2.1m | €2.1m | €2.7m | €3.4m | €2.6m | ▼ 22.0% |
| Advances received on contracts in progress46 | - | - | €0.5m | €2.9m | €3.6m | €0.6m | €1.1m | ▲ 98.8% |
| Taxes, remuneration and social security45 | - | - | €1.2m | €1.4m | €1.4m | €1.3m | €0.9m | ▼ 32.0% |
| Taxes450/3 | - | - | €0.2m | €0.2m | €0.3m | €0.3m | €0.06m | ▼ 79.6% |
| Remuneration and social security454/9 | - | - | €1.0m | €1.1m | €1.1m | €1.0m | €0.8m | ▼ 17.6% |
| Other amounts payable47/48 | - | - | €1.0m | €0.3m | €0.3m | €0.3m | - | - |
| Accrued charges and deferred income492/3 | - | - | €0.001m | €0.009m | €485 | €0.008m | €0.09m | ▲ 906% |
| Line | 2018 | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1.0m | -€0.3m | -€0.2m | €0.2m | -€0.1m | -€0.6m | -€1.7m | ▼ 195% |
| + Depreciation and write-downs630 | €0.7m | €0.7m | €0.4m | €0.4m | €0.6m | €0.5m | €0.5m | ▼ 3.3% |
| Operating cash flow (approximation) | -€0.2m | €0.4m | €0.2m | €0.6m | €0.5m | -€0.05m | -€1.2m | ▼ 2,355% |
| Investment in fixed assets (approximation) | - | -€0.1m | - | -€0.6m | -€0.2m | -€0.3m | -€0.6m | ▼ 76.4% |
| Change in cash | - | -€0.9m | - | €0.5m | -€1.1m | €0.09m | -€0.9m | - |
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, 1,608 companies had the same profile as Potteau has now. Two years later, 88.9% were still going and 4.1% had gone bankrupt.
- 20 years or older
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
- without size
88.9%
was still going
6.7%
stopped otherwise
4.1%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Potteau itself: 2.5% 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 1,608 companies, not a prediction for Potteau. 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 49 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 23-06-2026 | 2026-00186617 | |
| 31-12-2024 | full format | 30-06-2025 | 2025-00194017 | |
| 31-12-2023 | full format | 19-06-2024 | 2024-00139974 | |
| 31-12-2022 | full format | 06-07-2023 | 2023-00213901 | |
| 31-12-2021 | full format | 07-07-2022 | 2022-20167091 | |
| 31-12-2020 | full format | 25-06-2021 | 2021-24500569 | |
| 31-12-2019 | full format | 25-06-2020 | 2020-21100397 | |
| 31-12-2018 | full format | 13-05-2019 | 2019-12900008 | |
| 31-12-2017 | full format | 26-04-2018 | 2018-10700508 | |
| 31-12-2016 | full format | 05-05-2017 | 2017-11500041 |