PRODEKA
ActiveFinancials · financial year 2025, abbreviated format
2025 annual accounts filed 27 days after the deadline Filed on 27 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00491362.
Annual accounts 2025 filed on 27-08-2026 at the NBB all 28 filings
Turnover
≈ €80,000
Estimated: probably between €69,000 and €100,000
Total assets
€764,075▲ 7.5%
2024 · €710,533
Net result
€28,025▼ 39.8%
2024 · €46,561
Working capital
€353,028▲ 1.5%
2024 · €347,951
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€37,595
▼ 30.8%
2025
20182025
Net result
€28,025
▼ 39.8%
2025
middle half of the sector
20182025
Equity
€624,906
▲ 4.7%
2025
middle half of the sector
20182025
Total assets
€764,075
▲ 7.5%
2025
middle half of the sector
20182025
Debt
€139,169
▲ 22.5%
2025
20182025
Working capital
€353,028
▲ 1.5%
2025
middle half of the sector
20182025
Solvency
81.8%
▼ 2.2pp
2025
highest quarter of the sector
20182025
Current ratio
3.54
▼ 0.52
2025
highest quarter of the sector
20182025
Return on assets (ROA)
3.7%
▼ 2.9pp
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€22,336-€65,842▲ 195%-€15,438€4,299€40,725▲ 847%€44,548▲ 9.4%€54,305▲ 21.9%€37,595▼ 30.8%
Net result€6,781-€39,638▲ 485%-€17,140below the sector's middle half-€3,125within the sector's middle half▲ 81.8%€17,773within the sector's middle half€26,929within the sector's middle half▲ 51.5%€46,561above the sector's middle half▲ 72.9%€28,025within the sector's middle half▼ 39.8%
Equity€637,130-€676,768▲ 6.2%€659,628above the sector's middle half▼ 2.5%€656,503above the sector's middle half▼ 0.5%€523,391above the sector's middle half▼ 20.3%€550,320above the sector's middle half▲ 5.1%€596,881above the sector's middle half▲ 8.5%€624,906within the sector's middle half▲ 4.7%
Total assets€661,606-€719,912▲ 8.8%€691,556within the sector's middle half▼ 3.9%€659,898within the sector's middle half▼ 4.6%€660,342within the sector's middle half▲ 0.1%€674,713within the sector's middle half▲ 2.2%€710,533within the sector's middle half▲ 5.3%€764,075within the sector's middle half▲ 7.5%
Debt€24,476-€43,144▲ 76.3%€31,928▼ 26.0%€3,396▼ 89.4%€136,951▲ 40×€124,393▼ 9.2%€113,652▼ 8.6%€139,169▲ 22.5%
Working capital€316,021-€385,935▲ 22.1%€318,540above the sector's middle half▼ 17.5%€347,127above the sector's middle half▲ 9.0%€245,238above the sector's middle half▼ 29.4%€286,778above the sector's middle half▲ 16.9%€347,951above the sector's middle half▲ 21.3%€353,028within the sector's middle half▲ 1.5%
Solvency96.3%-94.0%▼ 2.3pp95.4%above the sector's middle half▲ 1.4pp99.5%above the sector's middle half▲ 4.1pp79.3%above the sector's middle half▼ 20.2pp81.6%above the sector's middle half▲ 2.3pp84.0%above the sector's middle half▲ 2.4pp81.8%above the sector's middle half▼ 2.2pp
Current ratio13.91-9.95▼ 3.9710.98above the sector's middle half▲ 1.032.79within the sector's middle half3.31above the sector's middle half▲ 0.514.06above the sector's middle half▲ 0.763.54above the sector's middle half▼ 0.52
Return on assets (ROA)1.0%-5.5%▲ 4.5pp-2.5%below the sector's middle half▼ 8.0pp-0.5%within the sector's middle half▲ 2.0pp2.7%within the sector's middle half▲ 3.2pp4.0%within the sector's middle half▲ 1.3pp6.6%within the sector's middle half▲ 2.6pp3.7%within the sector's middle half▼ 2.9pp
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 31% lower than in 2024 and the lowest since 2021.
Turnover and EBIT margin are not published. The abbreviated or 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 €764,075
Fixed assets
€271,877 ▲ 9.2%
Current assets
€492,198 ▲ 6.6%
Equity and liabilities €764,075
Equity
€624,906 ▲ 4.7%
Debt
€139,169 ▲ 22.5%
Debt's share of the balance-sheet total rises from 16.0% to 18.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€54,569▼
2024 · €68,917
Cash flow
€44,999▼
2024 · €61,173
Debt to equity
0.22▲
2024 · 0.19
ROE
4.5%▼
2024 · 7.8%
Interest coverage
52.03▲
2024 · 26.01
Debt ≤ 1 year
€139,169▲
2024 · €113,652
Income taxes
€15,058▲
2024 · €10,059
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | - | - | €39,921 |
| Depreciation and write-downs of the year | €31,712 | €31,223 | €14,612 | €14,612 | €16,974 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €43,289 | €18,239 | €22,803 | €31,712 | €31,223 | €14,612 | €14,612 | €16,974 | ▲ 16.2% |
| Other operating charges640/8 | - | - | - | €3,701 | €3,119 | €3,682 | €3,851 | €7,252 | ▲ 88.3% |
| Gross operating margin9900 | €70,073 | €89,915 | €18,489 | €39,713 | €75,067 | €62,841 | €72,767 | €61,821 | ▼ 15.0% |
| Operating profit (loss)9901 | €22,336 | €65,842 | -€15,438 | €4,299 | €40,725 | €44,548 | €54,305 | €37,595 | ▼ 30.8% |
| Financial income75/76B | - | - | - | €2,719 | €2,282 | €3,742 | €4,964 | €6,537 | ▲ 31.7% |
| Recurring financial income75 | €2,319 | €1,962 | €2,313 | €2,719 | €2,282 | €3,742 | €4,964 | €6,537 | ▲ 31.7% |
| Financial charges65/66B | - | - | - | €6,375 | €2,905 | €5,720 | €2,650 | €1,049 | ▼ 60.4% |
| Recurring financial charges65 | €6,501 | €5,117 | €6,053 | €6,375 | €2,905 | €5,720 | €2,650 | €1,049 | ▼ 60.4% |
| Profit (loss) for the period before taxes9903 | €18,153 | €62,687 | -€19,178 | €644 | €40,102 | €42,569 | €56,620 | €43,083 | ▼ 23.9% |
| Income taxes67/77 | €11,372 | €23,049 | -€2,038 | €3,769 | €22,329 | €15,640 | €10,059 | €15,058 | ▲ 49.7% |
| Profit (loss) for the period9904 | €6,781 | €39,638 | -€17,140 | -€3,125 | €17,773 | €26,929 | €46,561 | €28,025 | ▼ 39.8% |
| Transfer from tax-exempt reserves789 | - | - | - | €18,750 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €6,781 | €39,638 | -€17,140 | €15,625 | €17,773 | €26,929 | €46,561 | €28,025 | ▼ 39.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €661,606 | €719,912 | €691,556 | €659,898 | €660,342 | €674,713 | €710,533 | €764,075 | ▲ 7.5% |
| Fixed assets21/28 | €321,109 | €290,833 | €341,088 | €309,376 | €278,153 | €263,541 | €248,930 | €271,877 | ▲ 9.2% |
| Tangible fixed assets22/27 | €321,109 | €290,833 | €341,088 | €309,376 | €278,153 | €263,541 | €248,930 | €271,877 | ▲ 9.2% |
| Land and buildings22 | - | - | - | €238,882 | €238,882 | €238,882 | €238,882 | €271,876 | ▲ 13.8% |
| Furniture and vehicles24 | - | - | - | €70,494 | €39,271 | €24,660 | €10,048 | €1 | ▼ 100.0% |
| Current assets29/58 | €340,497 | €429,079 | €350,468 | €350,522 | €382,189 | €411,172 | €461,603 | €492,198 | ▲ 6.6% |
| Amounts receivable within one year40/41 | €8,520 | €6,468 | €21,414 | €11,304 | €6,203 | €3,916 | €1,460 | €10,243 | ▲ 602% |
| Trade receivables40 | - | - | - | - | - | - | - | €10,243 | - |
| Other amounts receivable41 | - | - | - | €11,304 | €6,203 | €3,916 | €1,460 | - | - |
| Current investments50/53 | €146,972 | €192,549 | €200,841 | €220,602 | €232,281 | €193,592 | €241,978 | €193,053 | ▼ 20.2% |
| Cash at bank and in hand54/58 | €185,006 | €230,062 | €128,213 | €118,615 | €143,705 | €213,663 | €217,850 | €288,902 | ▲ 32.6% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | €315 | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €661,606 | €719,912 | €691,556 | €659,898 | €660,342 | €674,713 | €710,533 | €764,075 | ▲ 7.5% |
| Equity10/15 | €637,130 | €676,768 | €659,628 | €656,503 | €523,391 | €550,320 | €596,881 | €624,906 | ▲ 4.7% |
| Contributions10/11 | €232,985 | €232,985 | €232,985 | €232,985 | €82,100 | €82,100 | €82,100 | €82,100 | = |
| Capital10 | - | - | - | €232,985 | €82,100 | €82,100 | €82,100 | €82,100 | = |
| Issued capital100 | - | - | - | €232,985 | €82,100 | €82,100 | €82,100 | €82,100 | = |
| Reserves13 | €404,145 | €443,783 | €443,783 | €425,033 | €441,291 | €468,220 | €514,781 | €542,806 | ▲ 5.4% |
| Non-distributable reserves130/1 | - | - | - | €23,299 | €23,299 | €23,299 | €23,299 | €23,299 | = |
| Legal reserve130 | - | - | - | €23,299 | €23,299 | €23,299 | €23,299 | €23,299 | = |
| Distributable reserves133 | - | - | - | €401,735 | €417,992 | €444,921 | €491,482 | €519,507 | ▲ 5.7% |
| Profit (loss) carried forward14 | - | - | -€17,140 | -€1,516 | - | - | - | - | - |
| Amounts payable17/49 | €24,476 | €43,144 | €31,928 | €3,396 | €136,951 | €124,393 | €113,652 | €139,169 | ▲ 22.5% |
| Amounts payable within one year42/48 | €24,476 | €43,144 | €31,928 | €3,396 | €136,951 | €124,393 | €113,652 | €139,169 | ▲ 22.5% |
| Trade debts44 | - | €4,618 | - | €828 | €824 | €786 | €1,327 | €33,099 | ▲ 25× |
| Suppliers440/4 | - | - | - | €828 | €824 | €786 | €1,327 | €33,099 | ▲ 25× |
| Taxes, remuneration and social security45 | - | - | - | €568 | €2,193 | €4,886 | €7,917 | €15,063 | ▲ 90.3% |
| Taxes450/3 | - | - | - | €568 | €2,193 | €4,886 | €7,917 | €15,063 | ▲ 90.3% |
| Other amounts payable47/48 | - | - | - | €2,000 | €133,933 | €118,721 | €104,408 | €91,007 | ▼ 12.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,781 | €39,638 | -€17,140 | -€3,125 | €17,773 | €26,929 | €46,561 | €28,025 | ▼ 39.8% |
| + Depreciation and write-downs630 | €43,289 | €18,239 | €22,803 | €31,712 | €31,223 | €14,612 | €14,612 | €16,974 | ▲ 16.2% |
| Operating cash flow (approximation) | €50,070 | €57,878 | €5,663 | €28,587 | €48,996 | €41,540 | €61,173 | €44,999 | ▼ 26.4% |
| Investment in fixed assets (approximation) | - | €12,036 | -€73,058 | €0 | €0 | €0 | €0 | -€39,921 | - |
| Change in cash | - | €45,056 | -€101,849 | -€9,598 | €25,090 | €69,958 | €4,187 | €71,052 | ▲ 17× |
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 PRODEKA 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 PRODEKA 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 PRODEKA. 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 28 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 27-08-2026 | 2026-00491362 | |
| 31-12-2024 | micro format | 18-08-2025 | 2025-00386920 | |
| 31-12-2023 | micro format | 03-07-2024 | 2024-00216353 | |
| 31-12-2022 | micro format | 12-07-2023 | 2023-00234989 | |
| 31-12-2021 | micro format | 20-07-2022 | 2022-20242067 | |
| 31-12-2020 | micro format | 26-08-2021 | 2021-55000022 | |
| 31-12-2019 | micro format | 04-09-2020 | 2020-51000551 | |
| 31-12-2018 | abbreviated format | 11-07-2019 | 2019-32300492 | |
| 31-12-2017 | abbreviated format | 11-07-2018 | 2018-32600278 | |
| 31-12-2016 | abbreviated format | 18-07-2017 | 2017-33300529 |