ProcessAutomation
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 28-06-2026 at the NBB all 18 filings
Turnover
≈ €1.4m
Estimated: probably between €1.2m and €1.8m
EBIT margin
Not included in this filing
Net result
€359,164▲ 19.0%
2024 · €301,699
Working capital
€275,835▼ 42.5%
2024 · €479,379
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€497,478
▲ 18.7%
2025
20182025
Net result
€359,164
▲ 19.0%
2025
highest quarter of the sector
20182025
Equity
€391,758
▼ 29.6%
2025
middle half of the sector
20182025
Total assets
€1.4m
▲ 2.6%
2025
middle half of the sector
20182025
Debt
€1.0m
▲ 24.0%
2025
20182025
Working capital
€275,835
▼ 42.5%
2025
middle half of the sector
20182025
Solvency
27.5%
▼ 12.6pp
2025
middle half of the sector
20182025
Current ratio
1.30
▼ 0.38
2025
middle half of the sector
20182025
Return on assets (ROA)
25.2%
▲ 3.5pp
2025
highest quarter of the sector
20182025
Staff (FTE)
2.2
=
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.2m-€0.3m▲ 27.9%€0.3m▲ 9.2%€0.4m▲ 48.7%€0.3m▼ 34.0%€0.4m▲ 39.3%€0.4m▲ 1.4%€0.5m▲ 18.7%
Net result€0.2m-€0.2m▲ 19.3%€0.2mabove the sector's middle half▲ 8.0%€0.3mabove the sector's middle half▲ 55.1%€0.2mabove the sector's middle half▼ 33.4%€0.3mabove the sector's middle half▲ 39.3%€0.3mabove the sector's middle half▲ 1.1%€0.4mabove the sector's middle half▲ 19.0%
Equity€0.2m-€0.2m▲ 19.8%€0.3mwithin the sector's middle half▲ 19.3%€0.4mwithin the sector's middle half▲ 36.6%€0.4mwithin the sector's middle half▲ 10.0%€0.5mwithin the sector's middle half▲ 13.3%€0.6mwithin the sector's middle half▲ 12.8%€0.4mwithin the sector's middle half▼ 29.6%
Total assets€1.0m-€1.0m▲ 8.7%€1.1mwithin the sector's middle half▲ 2.4%€1.6mwithin the sector's middle half▲ 46.3%€1.4mwithin the sector's middle half▼ 13.4%€1.4mwithin the sector's middle half▲ 6.7%€1.4mwithin the sector's middle half▼ 4.2%€1.4mwithin the sector's middle half▲ 2.6%
Debt€0.8m-€0.8m▲ 5.8%€0.8m▼ 2.7%€1.2m▲ 49.9%€0.9m▼ 21.3%€1.0m▲ 3.5%€0.8m▼ 13.0%€1.0m▲ 24.0%
Working capital€0.1m-€0.2m▲ 67.1%€0.2mwithin the sector's middle half▲ 6.3%€0.3mwithin the sector's middle half▲ 60.7%€0.4mwithin the sector's middle half▲ 15.8%€0.4mwithin the sector's middle half▲ 10.1%€0.5mwithin the sector's middle half▲ 18.6%€0.3mwithin the sector's middle half▼ 42.5%
Solvency21.0%-23.2%▲ 2.1pp27.0%within the sector's middle half▲ 3.8pp25.2%within the sector's middle half▼ 1.8pp32.0%within the sector's middle half▲ 6.8pp34.0%within the sector's middle half▲ 2.0pp40.1%within the sector's middle half▲ 6.1pp27.5%within the sector's middle half▼ 12.6pp
Current ratio1.19-1.30▲ 0.101.32within the sector's middle half▲ 0.031.31within the sector's middle half▼ 0.011.46within the sector's middle half▲ 0.151.50within the sector's middle half▲ 0.041.68within the sector's middle half▲ 0.181.30within the sector's middle half▼ 0.38
Return on assets (ROA)16.7%-18.4%▲ 1.6pp19.4%above the sector's middle half▲ 1.0pp20.5%above the sector's middle half▲ 1.2pp15.8%above the sector's middle half▼ 4.7pp20.6%above the sector's middle half▲ 4.8pp21.7%above the sector's middle half▲ 1.1pp25.2%above the sector's middle half▲ 3.5pp
Staff (FTE)1.5-2▲ 33.3%2below the sector's middle half=2below the sector's middle half=2below the sector's middle half=2.2below the sector's middle half▲ 10.0%2.2below the sector's middle half=2.2within the sector's middle half=
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 19% higher than in 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.4m
Fixed assets
€221,784 ▲ 11.5%
Current assets
€1.2m ▲ 1.1%
Equity and liabilities €1.4m
Equity
€391,758 ▼ 29.6%
Debt
€1.0m ▲ 24.0%
Debt's share of the balance-sheet total rises from 59.9% to 72.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€534,890▲
2024 · €455,216
Cash flow
€396,576▲
2024 · €337,792
Debt to equity
2.63▲
2024 · 1.49
ROE
91.7%▲
2024 · 54.3%
Interest coverage
96.85▲
2024 · 49.36
Debt ≤ 1 year
€925,211▲
2024 · €709,049
Debt > 1 year
€104,186▼
2024 · €116,024
Income taxes
€142,849▲
2024 · €118,582
Staff costs
€98,625▼
2024 · €108,591
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 | 2 | 2 | 3 | 3 | 3 |
| full-time | 2 | 2 | 2 | 2 | 1 |
| part-time | - | - | 1 | 1 | 2 |
| in full-time equivalents | 2 | 2 | 2.2 | 2.2 | 2 |
| Average over the year, in full-time equivalents | 2 | 2 | 2.2 | 2.2 | 2 |
| On a permanent contract | 2 | 2 | 3 | 3 | 3 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,043 | €3,279 | €82,017 | €2,023 | €62,946 |
| Depreciation and write-downs of the year | €38,929 | €35,681 | €30,868 | €36,094 | €37,412 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €11,320 | - |
| Remuneration, social security and pensions62 | - | - | - | €83,461 | €90,174 | €106,761 | €108,591 | €98,625 | ▼ 9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €45,103 | €42,673 | €39,827 | €38,929 | €35,681 | €30,868 | €36,094 | €37,412 | ▲ 3.7% |
| Other operating charges640/8 | - | - | - | €1,191 | €8,035 | €1,863 | €6,858 | €5,111 | ▼ 25.5% |
| Gross operating margin9900 | €321,343 | €400,629 | €422,080 | €573,496 | €430,705 | €552,941 | €570,665 | €638,626 | ▲ 11.9% |
| Operating profit (loss)9901 | €216,727 | €277,205 | €302,587 | €449,915 | €296,816 | €413,449 | €419,122 | €497,478 | ▲ 18.7% |
| Financial income75/76B | - | - | - | €595 | €698 | €813 | €10,381 | €10,058 | ▼ 3.1% |
| Recurring financial income75 | €207 | €144 | €2,980 | €595 | €698 | €813 | €10,381 | €10,058 | ▼ 3.1% |
| Financial charges65/66B | - | - | - | €6,979 | €7,376 | €8,307 | €9,222 | €5,523 | ▼ 40.1% |
| Recurring financial charges65 | €6,608 | €7,311 | €6,669 | €6,979 | €7,376 | €8,307 | €9,222 | €5,523 | ▼ 40.1% |
| Profit (loss) for the period before taxes9903 | €210,326 | €270,038 | €298,897 | €443,531 | €290,138 | €405,955 | €420,280 | €502,013 | ▲ 19.4% |
| Income taxes67/77 | €49,267 | €77,973 | €91,487 | €121,891 | €75,808 | €107,491 | €118,582 | €142,849 | ▲ 20.5% |
| Profit (loss) for the period9904 | €161,058 | €192,064 | €207,410 | €321,640 | €214,331 | €298,464 | €301,699 | €359,164 | ▲ 19.0% |
| Profit (loss) for the period to be appropriated9905 | €161,058 | €192,064 | €207,410 | €321,640 | €214,331 | €298,464 | €301,699 | €359,164 | ▲ 19.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.0m | €1.0m | €1.1m | €1.6m | €1.4m | €1.4m | €1.4m | €1.4m | ▲ 2.6% |
| Fixed assets21/28 | €0.3m | €0.2m | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 11.5% |
| Tangible fixed assets22/27 | €0.3m | €0.2m | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 11.5% |
| Land and buildings22 | - | - | - | €0.2m | €0.2m | €0.1m | €0.1m | €0.1m | ▼ 7.6% |
| Plant, machinery and equipment23 | - | - | - | €0.001m | €288 | €113 | - | - | - |
| Furniture and vehicles24 | - | - | - | €0.06m | €0.04m | €0.09m | €0.06m | €0.1m | ▲ 53.5% |
| Current assets29/58 | €0.7m | €0.8m | €0.8m | €1.3m | €1.2m | €1.2m | €1.2m | €1.2m | ▲ 1.1% |
| Amounts receivable within one year40/41 | €0.3m | €0.5m | €0.3m | €0.8m | €0.6m | €0.3m | €0.2m | €0.2m | ▼ 16.0% |
| Trade receivables40 | - | - | - | €0.8m | €0.6m | €0.3m | €0.2m | €0.2m | ▼ 17.7% |
| Other amounts receivable41 | - | - | - | €0.03m | €0.01m | €0.03m | €0.03m | €0.03m | ▼ 2.5% |
| Current investments50/53 | - | - | - | - | - | €0.2m | €0.5m | - | - |
| Cash at bank and in hand54/58 | €0.4m | €0.3m | €0.5m | €0.5m | €0.5m | €0.7m | €0.4m | €1.0m | ▲ 126% |
| Deferred charges and accrued income490/1 | - | - | - | €0.006m | €0.007m | €0.009m | €0.01m | €0.006m | ▼ 38.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.0m | €1.0m | €1.1m | €1.6m | €1.4m | €1.4m | €1.4m | €1.4m | ▲ 2.6% |
| Equity10/15 | €0.2m | €0.2m | €0.3m | €0.4m | €0.4m | €0.5m | €0.6m | €0.4m | ▼ 29.6% |
| Contributions10/11 | €0.02m | €0.02m | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.1m | €0.2m | €0.3m | €0.4m | €0.4m | €0.5m | €0.5m | €0.4m | ▼ 30.8% |
| Non-distributable reserves130/1 | - | - | - | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | = |
| Reserves not available under the articles1311 | - | - | - | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | = |
| Distributable reserves133 | - | - | - | €0.4m | €0.4m | €0.5m | €0.5m | €0.4m | ▼ 31.0% |
| Profit (loss) carried forward14 | €0.06m | €0.06m | €0.001m | €321 | €0.001m | €0.001m | €15 | €178 | ▲ 12× |
| Investment grants15 | - | - | - | €0.007m | €0.006m | €0.005m | €0.005m | €0.004m | ▼ 10.4% |
| Amounts payable17/49 | €0.8m | €0.8m | €0.8m | €1.2m | €0.9m | €1.0m | €0.8m | €1.0m | ▲ 24.0% |
| Amounts payable after more than one year17 | €0.2m | €0.2m | €0.2m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 10.2% |
| Financial debts170/4 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 10.2% |
| Amounts payable within one year42/48 | €0.6m | €0.6m | €0.6m | €1.0m | €0.8m | €0.8m | €0.7m | €0.9m | ▲ 30.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.02m | €0.02m | €0.03m | €0.02m | €0.03m | ▲ 23.8% |
| Trade debts44 | €0.2m | €0.3m | €0.2m | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | ▼ 13.1% |
| Suppliers440/4 | - | - | - | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | ▼ 13.1% |
| Advances received on contracts in progress46 | - | - | - | €0.5m | €0.3m | €0.2m | €0.1m | €0.1m | ▼ 22.0% |
| Taxes, remuneration and social security45 | - | - | - | €0.07m | €0.05m | €0.04m | €0.06m | €0.07m | ▲ 17.2% |
| Taxes450/3 | - | - | - | €0.05m | €0.04m | €0.03m | €0.04m | €0.06m | ▲ 32.1% |
| Remuneration and social security454/9 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | ▼ 27.0% |
| Other amounts payable47/48 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.6m | ▲ 85.2% |
| Accrued charges and deferred income492/3 | - | - | - | €0.002m | €0.004m | €0.005m | €0.006m | €0.002m | ▼ 72.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €161,058 | €192,064 | €207,410 | €321,640 | €214,331 | €298,464 | €301,699 | €359,164 | ▲ 19.0% |
| + Depreciation and write-downs630 | €45,103 | €42,673 | €39,827 | €38,929 | €35,681 | €30,868 | €36,094 | €37,412 | ▲ 3.7% |
| Operating cash flow (approximation) | €206,161 | €234,737 | €247,238 | €360,569 | €250,012 | €329,332 | €337,792 | €396,576 | ▲ 17.4% |
| Investment in fixed assets (approximation) | - | -€4,798 | -€70,454 | -€1,043 | -€3,279 | -€66,817 | -€2,023 | -€60,331 | ▼ 2,882% |
| Change in cash | - | -€125,573 | €211,485 | €58,095 | -€2,625 | €167,556 | -€253,389 | €554,618 | - |
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, 5,053 companies had the same profile as ProcessAutomation has now. Two years later, 95.9% were still going and 1.6% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
95.9%
was still going
2.4%
stopped otherwise
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of ProcessAutomation itself is lower: 0.2% within 12 months. It rests on far more data about ProcessAutomation than the profile alone.
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 5,053 companies, not a prediction for ProcessAutomation. 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 18 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 28-06-2026 | 2026-00208109 | |
| 31-12-2024 | full format | 29-07-2025 | 2025-00323309 | |
| 31-12-2023 | full format | 31-08-2024 | 2024-00425031 | |
| 31-12-2022 | full format | 30-05-2023 | 2023-00097157 | |
| 31-12-2021 | full format | 30-09-2022 | 2022-20446270 | |
| 31-12-2020 | full format | 31-08-2021 | 2021-57900357 | |
| 31-12-2019 | full format | 31-12-2020 | 2020-77600087 | |
| 31-12-2018 | full format | 31-08-2019 | 2019-63200490 | |
| 31-12-2017 | full format | 29-08-2018 | 2018-51800194 | |
| 31-12-2016 | full format | 06-07-2017 | 2017-27300015 |