PRO VISION
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 09-12-2025 PDF all 33 filings
Turnover
≈ €78,000
Estimated: probably between €67,000 and €99,000
Total assets
€1.0m▼ 2.0%
2024 · €1.0m
Net result
€15,619▲ 16.4%
2024 · €13,417
Working capital
€258,560▼ 2.1%
2024 · €263,975
In the rankings
#6 oldest company in Zemst, Real estate sector#10 company by equity in Zemst, Real estate sector
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€25,514
▲ 3.1%
2025
20192025
Net result
€15,619
▲ 16.4%
2025
middle half of the sector
20192025
Equity
€552,995
▲ 2.9%
2025
highest quarter of the sector
20192025
Total assets
€1.0m
▼ 2.0%
2025
middle half of the sector
20192025
Debt
€314,644
▼ 10.1%
2025
20192025
Working capital
€258,560
▼ 2.1%
2025
highest quarter of the sector
20192025
Solvency
55.0%
▲ 2.6pp
2025
middle half of the sector
20192025
Current ratio
1.91
▼ 0.03
2025
middle half of the sector
20192025
Return on assets (ROA)
1.6%
▲ 0.2pp
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.03m-€0.02m▼ 38.3%€0.02m▲ 11.7%€0.02m▼ 0.6%€0.02m▲ 1.3%€0.02m▲ 22.8%€0.03m▲ 3.1%
Net result€0.01m-€0.003mwithin the sector's middle half▼ 71.3%€0.006mwithin the sector's middle half▲ 79.2%€0.007mwithin the sector's middle half▲ 17.7%€0.008mwithin the sector's middle half▲ 19.0%€0.01mwithin the sector's middle half▲ 59.3%€0.02mwithin the sector's middle half▲ 16.4%
Equity€0.5m-€0.5mabove the sector's middle half▲ 0.7%€0.5mabove the sector's middle half▲ 1.2%€0.5mabove the sector's middle half▲ 1.4%€0.5mabove the sector's middle half▲ 1.7%€0.5mabove the sector's middle half▲ 2.6%€0.6mabove the sector's middle half▲ 2.9%
Total assets€1.0m-€1.1mabove the sector's middle half▲ 10.5%€1.1mabove the sector's middle half▼ 1.7%€1.1mwithin the sector's middle half▼ 3.6%€1.0mwithin the sector's middle half▼ 4.0%€1.0mwithin the sector's middle half▼ 1.2%€1.0mwithin the sector's middle half▼ 2.0%
Debt€0.4m-€0.5m▲ 27.0%€0.5m▼ 5.1%€0.4m▼ 9.9%€0.4m▼ 12.2%€0.4m▼ 6.7%€0.3m▼ 10.1%
Working capital€0.3m-€0.3mabove the sector's middle half▼ 3.2%€0.3mabove the sector's middle half▼ 1.3%€0.3mabove the sector's middle half▼ 1.9%€0.3mabove the sector's middle half▼ 2.0%€0.3mabove the sector's middle half▼ 2.1%€0.3mabove the sector's middle half▼ 2.1%
Solvency48.2%-43.9%within the sector's middle half▼ 4.3pp45.3%within the sector's middle half▲ 1.3pp47.6%within the sector's middle half▲ 2.4pp50.4%within the sector's middle half▲ 2.8pp52.4%within the sector's middle half▲ 1.9pp55.0%within the sector's middle half▲ 2.6pp
Current ratio2.96-2.17within the sector's middle half▼ 0.802.07within the sector's middle half▼ 0.102.05within the sector's middle half▼ 0.022.04within the sector's middle half▼ 0.011.95within the sector's middle half▼ 0.101.91within the sector's middle half▼ 0.03
Return on assets (ROA)1.1%-0.3%within the sector's middle half▼ 0.8pp0.5%within the sector's middle half▲ 0.2pp0.7%within the sector's middle half▲ 0.1pp0.8%within the sector's middle half▲ 0.2pp1.3%within the sector's middle half▲ 0.5pp1.6%within the sector's middle half▲ 0.2pp
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). 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 3% higher than in 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
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
2025 in colour, 2024 as the grey bar beneath
Assets €1.0m
Fixed assets
€463,717 ▼ 4.0%
Current assets
€542,197 ▼ 0.2%
Equity and liabilities €1.0m
Equity
€552,995 ▲ 2.9%
Provisions
€138,276 ▼ 0.4%
Debt
€314,644 ▼ 10.1%
Debt's share of the balance-sheet total falls from 34.1% to 31.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€44,789▼
2024 · €55,406
Cash flow
€34,894▼
2024 · €44,078
Debt to equity
0.57▼
2024 · 0.65
ROE
2.8%▲
2024 · 2.5%
Interest coverage
9.40▲
2024 · 8.47
Debt ≤ 1 year
€283,638▲
2024 · €279,337
Debt > 1 year
€31,006▼
2024 · €70,721
Income taxes
€5,870▲
2024 · €5,383
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | €2,677 | - |
| Depreciation and write-downs of the year | €34,523 | €34,523 | €30,661 | €19,275 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €468 | - | €800 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €24,055 | €36,117 | €35,487 | €34,523 | €34,523 | €30,661 | €19,275 | ▼ 37.1% |
| Other operating charges640/8 | - | - | - | €11,725 | €11,650 | €12,646 | €15,398 | ▲ 21.8% |
| Gross operating margin9900 | €61,996 | €62,954 | €67,007 | €66,138 | €66,325 | €68,052 | €60,188 | ▼ 11.6% |
| Operating profit (loss)9901 | €29,061 | €17,920 | €20,011 | €19,891 | €20,152 | €24,745 | €25,514 | ▲ 3.1% |
| Financial income75/76B | - | - | - | €11 | - | - | €144 | - |
| Recurring financial income75 | - | - | €45 | €11 | - | - | €144 | - |
| Financial charges65/66B | - | - | - | €10,176 | €8,327 | €6,540 | €4,764 | ▼ 27.2% |
| Recurring financial charges65 | €14,511 | €13,238 | €11,761 | €10,176 | €8,327 | €6,540 | €4,764 | ▼ 27.2% |
| Profit (loss) for the period before taxes9903 | €14,550 | €4,682 | €8,294 | €9,726 | €11,825 | €18,205 | €20,894 | ▲ 14.8% |
| Transfer from deferred taxes780 | - | - | - | €594 | €318 | €594 | €594 | = |
| Income taxes67/77 | €3,446 | €1,920 | €2,876 | €3,242 | €3,719 | €5,383 | €5,870 | ▲ 9.1% |
| Profit (loss) for the period9904 | €11,699 | €3,356 | €6,013 | €7,079 | €8,424 | €13,417 | €15,619 | ▲ 16.4% |
| Transfer from tax-exempt reserves789 | - | - | - | €1,162 | €1,439 | €1,162 | €1,162 | = |
| Profit (loss) for the period to be appropriated9905 | €12,861 | €4,518 | €7,175 | €8,241 | €9,863 | €14,579 | €16,781 | ▲ 15.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.0m | €1.1m | €1.1m | €1.1m | €1.0m | €1.0m | €1.0m | ▼ 2.0% |
| Fixed assets21/28 | €0.6m | €0.6m | €0.6m | €0.5m | €0.5m | €0.5m | €0.5m | ▼ 4.0% |
| Tangible fixed assets22/27 | €0.6m | €0.6m | €0.6m | €0.5m | €0.5m | €0.5m | €0.5m | ▼ 4.0% |
| Land and buildings22 | - | - | - | €0.5m | €0.5m | €0.5m | €0.5m | ▼ 3.8% |
| Furniture and vehicles24 | - | - | - | €0.004m | - | €0.002m | €0.002m | ▼ 36.3% |
| Leasing and similar rights25 | - | - | - | €0.02m | €0.01m | - | - | - |
| Financial fixed assets28 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Current assets29/58 | €0.4m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | ▼ 0.2% |
| Amounts receivable within one year40/41 | €0.4m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | ▲ 1.7% |
| Trade receivables40 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 1.7% |
| Other amounts receivable41 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 1.9% |
| Cash at bank and in hand54/58 | €0 | €0.02m | €0.001m | €0.006m | €0.004m | €0.01m | €0.002m | ▼ 83.7% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.0m | €1.1m | €1.1m | €1.1m | €1.0m | €1.0m | €1.0m | ▼ 2.0% |
| Equity10/15 | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.6m | ▲ 2.9% |
| Contributions10/11 | €0.02m | €0.02m | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.03m | €0.03m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | ▼ 5.6% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | - | - | - |
| Tax-exempt reserves132 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | ▼ 6.1% |
| Distributable reserves133 | - | - | - | - | - | €0.002m | €0.002m | = |
| Profit (loss) carried forward14 | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | ▲ 3.4% |
| Provisions and deferred taxes16 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 0.4% |
| Provisions for liabilities and charges160/5 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Pensions and similar obligations160 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Deferred taxes168 | - | - | - | €0.01m | €0.01m | €0.01m | €0.009m | ▼ 6.0% |
| Amounts payable17/49 | €0.4m | €0.5m | €0.5m | €0.4m | €0.4m | €0.4m | €0.3m | ▼ 10.1% |
| Amounts payable after more than one year17 | €0.2m | €0.3m | €0.2m | €0.2m | €0.1m | €0.07m | €0.03m | ▼ 56.2% |
| Financial debts170/4 | - | - | - | €0.2m | €0.1m | €0.07m | €0.03m | ▼ 56.2% |
| Amounts payable within one year42/48 | €0.1m | €0.2m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 1.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.05m | €0.05m | €0.05m | €0.04m | ▼ 14.4% |
| Financial debts43 | - | - | - | €0.001m | - | - | €0.002m | - |
| Credit institutions430/8 | - | - | - | €0.001m | - | - | €0.002m | - |
| Trade debts44 | €0.03m | €0.03m | €0.03m | €0.03m | €0.01m | €0.01m | €0.02m | ▲ 20.3% |
| Suppliers440/4 | - | - | - | €0.03m | €0.01m | €0.01m | €0.02m | ▲ 20.3% |
| Taxes, remuneration and social security45 | - | - | - | €0.001m | €0.001m | €0.003m | €0.002m | ▼ 29.8% |
| Taxes450/3 | - | - | - | €0.001m | €0.001m | €0.003m | €0.002m | ▼ 29.8% |
| Other amounts payable47/48 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 3.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,699 | €3,356 | €6,013 | €7,079 | €8,424 | €13,417 | €15,619 | ▲ 16.4% |
| + Depreciation and write-downs630 | €24,055 | €36,117 | €35,487 | €34,523 | €34,523 | €30,661 | €19,275 | ▼ 37.1% |
| Operating cash flow (approximation) | €35,754 | €39,473 | €41,500 | €41,601 | €42,947 | €44,078 | €34,894 | ▼ 20.8% |
| Investment in fixed assets (approximation) | - | -€60,307 | €0 | €0 | €0 | -€2,677 | €0 | - |
| Change in cash | - | €21,337 | -€20,182 | €5,226 | -€2,631 | €8,609 | -€10,341 | - |
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, 14,766 companies had the same profile as PRO VISION has now. Two years later, 96.2% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
96.2%
was still going
3.5%
stopped otherwise
0.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of PRO VISION 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 14,766 companies, not a prediction for PRO VISION. 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 33 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 09-12-2025 | 2025-00579695 | |
| 30-06-2024 | micro format | 18-12-2024 | 2024-00618830 | |
| 30-06-2023 | micro format | 05-01-2024 | 2024-00543494 | |
| 30-06-2022 | micro format | 30-11-2022 | 2022-20531517 | |
| 30-06-2021 | micro format | 16-12-2021 | 2021-80700076 | |
| 30-06-2020 | micro format | 18-12-2020 | 2020-76200112 | |
| 30-06-2019 | micro format | 18-12-2019 | 2019-76600005 | |
| 30-06-2018 | abbreviated format | 13-12-2018 | 2018-74700503 | |
| 30-06-2017 | abbreviated format | 21-12-2017 | 2017-72400260 | |
| 30-06-2016 | abbreviated format | 14-12-2016 | 2016-69800513 |