Proconsult
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 03-03-2026 PDF all 35 filings
Turnover
≈ €130,000
Estimated: probably between €97,000 and €160,000
Total assets
€452,556▲ 3.3%
2024 · €438,066
Net result
€28,401▲ 79.2%
2024 · €15,849
Working capital
€91,624▲ 115%
2024 · €42,647
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€45,143
▲ 123%
2025
20192025
Net result
€28,401
▲ 79.2%
2025
middle half of the sector
20192025
Equity
€313,675
▲ 10.0%
2025
highest quarter of the sector
20192025
Total assets
€452,556
▲ 3.3%
2025
highest quarter of the sector
20192025
Debt
€126,523
▼ 9.1%
2025
20192025
Working capital
€91,624
▲ 115%
2025
middle half of the sector
20192025
Solvency
69.3%
▲ 4.2pp
2025
middle half of the sector
20192025
Current ratio
1.81
▲ 0.49
2025
middle half of the sector
20192025
Return on assets (ROA)
6.3%
▲ 2.7pp
2025
middle half of the sector
20192025
Staff (FTE)
no figure
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€36,858-€7,270▼ 80.3%€23,910▲ 229%€20,798▼ 13.0%€71▼ 99.7%€20,213▲ 285×€45,143▲ 123%
Net result€21,900--€2,032below the sector's middle half€14,251within the sector's middle half€9,180within the sector's middle half▼ 35.6%-€606below the sector's middle half€15,849within the sector's middle half€28,401within the sector's middle half▲ 79.2%
Equity€248,630-€246,598above the sector's middle half▼ 0.8%€260,850above the sector's middle half▲ 5.8%€270,030above the sector's middle half▲ 3.5%€269,424above the sector's middle half▼ 0.2%€285,273above the sector's middle half▲ 5.9%€313,675above the sector's middle half▲ 10.0%
Total assets€536,474-€509,237within the sector's middle half▼ 5.1%€823,770above the sector's middle half▲ 61.8%€809,276above the sector's middle half▼ 1.8%€448,016within the sector's middle half▼ 44.6%€438,066within the sector's middle half▼ 2.2%€452,556above the sector's middle half▲ 3.3%
Debt€268,070-€244,101▼ 8.9%€545,619▲ 124%€523,180▼ 4.1%€163,763▼ 68.7%€139,198▼ 15.0%€126,523▼ 9.1%
Working capital-€3,134--€56,588below the sector's middle half▼ 1,706%€5,440within the sector's middle half€25,139within the sector's middle half▲ 362%€24,382within the sector's middle half▼ 3.0%€42,647within the sector's middle half▲ 74.9%€91,624within the sector's middle half▲ 115%
Solvency46.3%-48.4%within the sector's middle half▲ 2.1pp31.7%within the sector's middle half▼ 16.8pp33.4%within the sector's middle half▲ 1.7pp60.1%within the sector's middle half▲ 26.8pp65.1%within the sector's middle half▲ 5.0pp69.3%within the sector's middle half▲ 4.2pp
Current ratio0.98-0.75below the sector's middle half▼ 0.231.01below the sector's middle half▲ 0.261.05within the sector's middle half▲ 0.041.17within the sector's middle half▲ 0.121.32within the sector's middle half▲ 0.151.81within the sector's middle half▲ 0.49
Return on assets (ROA)4.1%--0.4%below the sector's middle half▼ 4.5pp1.7%within the sector's middle half▲ 2.1pp1.1%below the sector's middle half▼ 0.6pp-0.1%below the sector's middle half▼ 1.3pp3.6%within the sector's middle half▲ 3.8pp6.3%within the sector's middle half▲ 2.7pp
Staff (FTE)0.7-0.7within the sector's middle half=0.5▼ 28.6%
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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 123% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
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 €452,556
Fixed assets
€247,386 ▼ 5.4%
Current assets
€205,170 ▲ 16.1%
Equity and liabilities €452,556
Equity
€313,675 ▲ 10.0%
Provisions
€12,358 ▼ 9.1%
Debt
€126,523 ▼ 9.1%
Debt's share of the balance-sheet total falls from 31.8% to 28.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€60,813▲
2024 · €37,538
Cash flow
€44,071▲
2024 · €33,175
Debt to equity
0.40▼
2024 · 0.49
ROE
9.1%▲
2024 · 5.6%
Interest coverage
7.46▼
2024 · 54.88
Debt ≤ 1 year
€113,545▼
2024 · €134,010
Income taxes
€10,897▲
2024 · €5,138
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-09-2021 |
|---|---|
| Average over the year, in full-time equivalents | 0.3 |
| Joined | 0 |
| Left | 1 |
Source: social balance sheet in the 2021 annual accounts
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €1,422 | - | €1,648 |
| Depreciation and write-downs of the year | €22,402 | €22,402 | €17,638 | €17,325 | €15,670 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €301 | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | €13,328 | €172 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €23,303 | €23,303 | €22,402 | €22,402 | €17,638 | €17,325 | €15,670 | ▼ 9.6% |
| Other operating charges640/8 | - | - | €1,640 | €2,438 | €1,855 | €1,952 | €1,944 | ▼ 0.4% |
| Gross operating margin9900 | €87,026 | €53,531 | €61,280 | €45,809 | €19,564 | €39,490 | €62,757 | ▲ 58.9% |
| Operating profit (loss)9901 | €36,858 | €7,270 | €23,910 | €20,798 | €71 | €20,213 | €45,143 | ▲ 123% |
| Financial income75/76B | - | - | €0 | €0 | - | €223 | €1,072 | ▲ 381% |
| Recurring financial income75 | - | €89 | €0 | €0 | - | €223 | €1,072 | ▲ 381% |
| Financial charges65/66B | - | - | €1,605 | €6,391 | €939 | €684 | €8,153 | ▲ 12× |
| Recurring financial charges65 | €13,263 | €7,730 | €1,605 | €6,391 | €939 | €684 | €8,153 | ▲ 12× |
| Profit (loss) for the period before taxes9903 | €29,665 | -€372 | €22,306 | €14,406 | -€868 | €19,751 | €38,062 | ▲ 92.7% |
| Transfer from deferred taxes780 | - | - | €1,236 | €1,236 | €1,236 | €1,236 | €1,236 | = |
| Income taxes67/77 | €9,000 | €2,896 | €9,290 | €6,462 | €974 | €5,138 | €10,897 | ▲ 112% |
| Profit (loss) for the period9904 | €21,900 | -€2,032 | €14,251 | €9,180 | -€606 | €15,849 | €28,401 | ▲ 79.2% |
| Transfer from tax-exempt reserves789 | - | - | €2,400 | €2,400 | €2,400 | €2,400 | €2,400 | = |
| Profit (loss) for the period to be appropriated9905 | €24,300 | €368 | €16,651 | €11,580 | €1,794 | €18,249 | €30,801 | ▲ 68.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €536,474 | €509,237 | €823,770 | €809,276 | €448,016 | €438,066 | €452,556 | ▲ 3.3% |
| Fixed assets21/28 | €364,055 | €340,752 | €318,351 | €295,949 | €278,734 | €261,408 | €247,386 | ▼ 5.4% |
| Tangible fixed assets22/27 | €363,055 | €339,752 | €317,351 | €294,949 | €278,734 | €261,408 | €247,386 | ▼ 5.4% |
| Land and buildings22 | - | - | €311,697 | €294,514 | €277,331 | €260,148 | €244,780 | ▼ 5.9% |
| Furniture and vehicles24 | - | - | €5,653 | €435 | €1,402 | €1,260 | €2,606 | ▲ 107% |
| Financial fixed assets28 | €1,000 | €1,000 | €1,000 | €1,000 | - | - | - | - |
| Current assets29/58 | €172,418 | €168,485 | €505,419 | €513,326 | €169,282 | €176,657 | €205,170 | ▲ 16.1% |
| Amounts receivable within one year40/41 | €14,043 | €31,812 | €35,220 | €41,927 | €28,428 | €24,058 | €22,237 | ▼ 7.6% |
| Trade receivables40 | - | - | €17,720 | €41,927 | €28,428 | €24,057 | €22,227 | ▼ 7.6% |
| Other amounts receivable41 | - | - | €17,500 | - | - | €0 | €10 | ▲ 21× |
| Current investments50/53 | - | - | - | - | €1,000 | €70,000 | - | - |
| Cash at bank and in hand54/58 | €158,375 | €136,672 | €470,199 | €471,400 | €139,854 | €82,600 | €182,933 | ▲ 121% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €536,474 | €509,237 | €823,770 | €809,276 | €448,016 | €438,066 | €452,556 | ▲ 3.3% |
| Equity10/15 | €248,630 | €246,598 | €260,850 | €270,030 | €269,424 | €285,273 | €313,675 | ▲ 10.0% |
| Contributions10/11 | €440,000 | €440,000 | €440,000 | €440,000 | €440,000 | €440,000 | €440,000 | = |
| Capital10 | - | - | €440,000 | €440,000 | €440,000 | €440,000 | €440,000 | = |
| Issued capital100 | - | - | €440,000 | €440,000 | €440,000 | €440,000 | €440,000 | = |
| Reserves13 | €89,072 | €86,672 | €100,923 | €98,523 | €96,123 | €93,723 | €91,323 | ▼ 2.6% |
| Tax-exempt reserves132 | - | - | €33,600 | €31,200 | €28,800 | €26,400 | €24,000 | ▼ 9.1% |
| Distributable reserves133 | - | - | €67,323 | €67,323 | €67,323 | €67,323 | €67,323 | = |
| Profit (loss) carried forward14 | -€280,442 | -€280,073 | -€280,073 | -€268,493 | -€266,699 | -€248,450 | -€217,649 | ▲ 12.4% |
| Provisions and deferred taxes16 | €19,773 | €18,537 | €17,301 | €16,066 | €14,830 | €13,594 | €12,358 | ▼ 9.1% |
| Deferred taxes168 | - | - | €17,301 | €16,066 | €14,830 | €13,594 | €12,358 | ▼ 9.1% |
| Amounts payable17/49 | €268,070 | €244,101 | €545,619 | €523,180 | €163,763 | €139,198 | €126,523 | ▼ 9.1% |
| Amounts payable after more than one year17 | €83,203 | €15,259 | €45,640 | €29,804 | €13,674 | - | - | - |
| Financial debts170/4 | - | - | €45,640 | €29,804 | €13,674 | - | - | - |
| Amounts payable within one year42/48 | €175,552 | €225,073 | €499,979 | €488,188 | €144,901 | €134,010 | €113,545 | ▼ 15.3% |
| Current portion of amounts payable after more than one year42 | - | - | €16,513 | €15,836 | €16,131 | €13,674 | - | - |
| Trade debts44 | €710 | €478 | €810 | €116 | - | €232 | - | - |
| Suppliers440/4 | - | - | €810 | €116 | - | €232 | - | - |
| Taxes, remuneration and social security45 | - | - | €13,640 | €12,316 | €10,634 | €6,981 | €6,626 | ▼ 5.1% |
| Taxes450/3 | - | - | €11,066 | €12,316 | €8,134 | €6,981 | €6,626 | ▼ 5.1% |
| Remuneration and social security454/9 | - | - | €2,574 | - | €2,500 | - | - | - |
| Other amounts payable47/48 | - | - | €469,016 | €459,921 | €118,136 | €113,124 | €106,919 | ▼ 5.5% |
| Accrued charges and deferred income492/3 | - | - | - | €5,188 | €5,188 | €5,188 | €12,978 | ▲ 150% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €21,900 | -€2,032 | €14,251 | €9,180 | -€606 | €15,849 | €28,401 | ▲ 79.2% |
| + Depreciation and write-downs630 | €23,303 | €23,303 | €22,402 | €22,402 | €17,638 | €17,325 | €15,670 | ▼ 9.6% |
| Operating cash flow (approximation) | €45,203 | €21,271 | €36,653 | €31,582 | €17,032 | €33,175 | €44,071 | ▲ 32.8% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€422 | €0 | -€1,648 | - |
| Change in cash | - | -€21,703 | €333,526 | €1,201 | -€331,546 | -€57,255 | €100,333 | - |
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, 20,136 companies had the same profile as Proconsult has now. Two years later, 95.0% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.0%
was still going
4.7%
stopped otherwise
0.2%
went bankrupt
That fits the bankruptcy probability of Proconsult 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 20,136 companies, not a prediction for Proconsult. 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 35 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 03-03-2026 | 2026-00047845 | |
| 30-09-2024 | micro format | 03-03-2025 | 2025-00043315 | |
| 30-09-2023 | micro format | 05-03-2024 | 2024-00040025 | |
| 30-09-2022 | micro format | 02-03-2023 | 2023-00035911 | |
| 30-09-2021 | micro format | 27-04-2022 | 2022-20012117 | |
| 30-09-2020 | micro format | 17-10-2021 | 2021-72700313 | |
| 30-09-2019 | micro format | 28-10-2020 | 2020-64100091 | |
| 30-09-2018 | micro format | 26-03-2019 | 2019-08400007 | |
| 30-09-2017 | abbreviated format | 29-03-2018 | 2018-08500450 | |
| 30-09-2016 | abbreviated format | 02-03-2017 | 2017-05700518 |