PP1
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 05-01-2026 PDF all 2 filings
Every figure per financial year
The operating result for 2025 is a loss of €1,310, larger than the loss of €467 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them.
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €57 | €407 | ▲ 615% |
| Gross operating margin9900 | -€410 | -€904 | ▼ 120% |
| Operating profit (loss)9901 | -€467 | -€1,310 | ▼ 180% |
| Financial income75/76B | - | €73 | - |
| Recurring financial income75 | - | €73 | - |
| Financial charges65/66B | €21 | €147 | ▲ 601% |
| Recurring financial charges65 | €21 | €147 | ▲ 601% |
| Profit (loss) for the period before taxes9903 | -€488 | -€1,385 | ▼ 184% |
| Profit (loss) for the period9904 | -€488 | -€1,385 | ▼ 184% |
| Profit (loss) for the period to be appropriated9905 | -€488 | -€1,385 | ▼ 184% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €3,383 | €3,665 | ▲ 8.3% |
| Formation expenses20 | €1,977 | €1,570 | ▼ 20.6% |
| Current assets29/58 | €1,406 | €2,095 | ▲ 49.0% |
| Amounts receivable within one year40/41 | €1,387 | €2,095 | ▲ 51.0% |
| Other amounts receivable41 | €1,387 | €2,095 | ▲ 51.0% |
| Cash at bank and in hand54/58 | €19 | - | - |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €3,383 | €3,665 | ▲ 8.3% |
| Equity10/15 | €512 | -€873 | - |
| Contributions10/11 | €1,000 | €1,000 | = |
| Profit (loss) carried forward14 | -€488 | -€1,873 | ▼ 284% |
| Amounts payable17/49 | €2,871 | €4,538 | ▲ 58.1% |
| Amounts payable after more than one year17 | - | €3,100 | - |
| Other amounts payable178/9 | - | €3,100 | - |
| Amounts payable within one year42/48 | €2,871 | €1,438 | ▼ 49.9% |
| Financial debts43 | - | €32 | - |
| Credit institutions430/8 | - | €32 | - |
| Trade debts44 | €2,871 | €1,406 | ▼ 51.0% |
| Suppliers440/4 | €2,871 | €1,406 | ▼ 51.0% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€488 | -€1,385 | ▼ 184% |
| + Depreciation and write-downs630 | €57 | €407 | ▲ 615% |
| Operating cash flow (approximation) | -€431 | -€978 | ▼ 127% |
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, 7,639 companies had the same profile as PP1 has now. Two years later, 84.8% were still going and 8.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- negative equity
- a loss of 10% of the balance sheet or more
Another 0.7% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of PP1 itself: 4.3% 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 7,639 companies, not a prediction for PP1. 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.