PROFINUS
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 16-12-2025 PDF all 20 filings
Equity
€1.7m▲ 1.3%
2024 · €1.7m
Total assets
€2.2m▲ 0.6%
2024 · €2.2m
Net result
€41,125
2024 · -€36,903
Working capital
€1.6m▲ 1.7%
2024 · €1.6m
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€38,158
▲ 12.2%
2025
20192025
Net result
€41,125
2025
20192025
Equity
€1.7m
▲ 1.3%
2025
20192025
Total assets
€2.2m
▲ 0.6%
2025
20192025
Debt
€484,869
▼ 1.7%
2025
20192025
Working capital
€1.6m
▲ 1.7%
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.2m-€0.2m▼ 3.2%€0.05m▼ 76.4%-€0.05m-€0.04m▲ 6.3%-€0.04m▲ 3.3%-€0.04m▲ 12.2%
Net result€0.1m-€0.1m▲ 3.6%€1.1m▲ 712%€0.1m▼ 89.5%-€0.04m-€0.04m▲ 3.5%€0.04m
Equity€0.9m-€1.0m▲ 15.2%€1.8m▲ 74.1%€1.8m▲ 2.2%€1.7m▼ 3.7%€1.7m▼ 3.3%€1.7m▲ 1.3%
Total assets€1.4m-€1.5m▲ 8.5%€1.8m▲ 20.6%€2.4m▲ 31.8%€2.3m▼ 5.3%€2.2m▼ 3.4%€2.2m▲ 0.6%
Debt€0.5m-€0.5m▼ 3.3%€0.04m▼ 92.6%€0.6m▲ 16×€0.5m▼ 10.1%€0.5m▼ 4.0%€0.5m▼ 1.7%
Working capital-€0.2m--€0.1m▲ 53.4%€1.8m€1.7m▼ 4.3%€1.6m▼ 3.6%€1.6m▼ 3.1%€1.6m▲ 1.7%
The operating result for 2025 is a loss of €38,158, smaller than the loss of €43,473 in 2024.
Large changes and their cause
- 2022 Net result -90% on 2021. The accounts now follow the micro format, last year the abbreviated format.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.2m
Fixed assets
€546,100 ▼ 3.4%
Current assets
€1.6m ▲ 2.0%
Equity and liabilities €2.2m
Equity
€1.7m ▲ 1.3%
Debt
€484,869 ▼ 1.7%
Debt's share of the balance-sheet total falls from 22.6% to 22.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
-€19,048▲
2024 · -€24,126
Cash flow
€60,235▲
2024 · -€17,556
Current ratio
42.71▼
2024 · 47.33
Debt to equity
0.28▼
2024 · 0.29
ROE
2.4%▲
2024 · -2.2%
ROA
1.9%▲
2024 · -1.7%
Interest coverage
-0.99▲
2024 · -1.47
Debt ≤ 1 year
€38,576▲
2024 · €34,131
Debt > 1 year
€445,798▼
2024 · €458,552
Income taxes
€4,328▲
2024 · €209
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 | €611,040 | - | - | - |
| Depreciation and write-downs of the year | €16,371 | €19,401 | €19,346 | €19,110 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €404 | €350 | €0.002m | €0.02m | €0.02m | €0.02m | €0.02m | ▼ 1.2% |
| Other operating charges640/8 | - | - | - | €0.002m | €0.002m | €0.003m | €0.003m | ▼ 0.4% |
| Gross operating margin9900 | €0.2m | €0.2m | €0.05m | -€0.03m | -€0.02m | -€0.02m | -€0.02m | ▲ 23.4% |
| Operating profit (loss)9901 | €0.2m | €0.2m | €0.05m | -€0.05m | -€0.04m | -€0.04m | -€0.04m | ▲ 12.2% |
| Financial income75/76B | - | - | - | €0.2m | €0.02m | €0.02m | €0.1m | ▲ 343% |
| Recurring financial income75 | - | €0.002m | €0.01m | €0.05m | €0.02m | €0.02m | €0.1m | ▲ 343% |
| Non-recurring financial income76B | - | - | - | €0.1m | €0 | - | - | - |
| Financial charges65/66B | - | - | - | €0.01m | €0.01m | €0.02m | €0.02m | ▲ 16.7% |
| Recurring financial charges65 | €0.03m | €0.02m | €0.005m | €0.01m | €0.01m | €0.02m | €0.02m | ▲ 16.7% |
| Profit (loss) for the period before taxes9903 | €0.2m | €0.2m | €1.1m | €0.1m | -€0.04m | -€0.04m | €0.05m | - |
| Income taxes67/77 | €0.04m | €0.04m | €0.009m | €185 | €200 | €209 | €0.004m | ▲ 21× |
| Profit (loss) for the period9904 | €0.1m | €0.1m | €1.1m | €0.1m | -€0.04m | -€0.04m | €0.04m | - |
| Profit (loss) for the period to be appropriated9905 | €0.1m | €0.1m | €1.1m | €0.1m | -€0.04m | -€0.04m | €0.04m | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.4m | €1.5m | €1.8m | €2.4m | €2.3m | €2.2m | €2.2m | ▲ 0.6% |
| Fixed assets21/28 | €1.1m | €1.1m | €0.009m | €0.6m | €0.6m | €0.6m | €0.5m | ▼ 3.4% |
| Tangible fixed assets22/27 | €0.001m | €0.002m | €0.009m | €0.6m | €0.6m | €0.6m | €0.5m | ▼ 3.4% |
| Land and buildings22 | - | - | - | €0.6m | €0.6m | €0.6m | €0.5m | ▼ 3.0% |
| Plant, machinery and equipment23 | - | - | - | €0.004m | €0.003m | €0.003m | €0.003m | ▼ 12.9% |
| Furniture and vehicles24 | - | - | - | €0.006m | €0.005m | €0.003m | €0.001m | ▼ 66.8% |
| Financial fixed assets28 | €1.1m | €1.1m | €0 | - | - | - | - | - |
| Current assets29/58 | €0.2m | €0.4m | €1.8m | €1.8m | €1.7m | €1.6m | €1.6m | ▲ 2.0% |
| Amounts receivable within one year40/41 | €0.1m | €0.2m | €0.06m | €0.06m | €0.01m | €0.006m | €0.03m | ▲ 357% |
| Trade receivables40 | - | - | - | €0.001m | €0 | €0.002m | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | €0.06m | €0.01m | €0.005m | €0.03m | ▲ 519% |
| Current investments50/53 | - | - | €1.5m | €1.5m | €1.6m | €1.6m | €1.6m | ▼ 0.4% |
| Cash at bank and in hand54/58 | €0.1m | €0.2m | €0.2m | €0.2m | €0.07m | €0.02m | €0.03m | ▲ 90.7% |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €0.003m | €0.001m | €0.001m | ▼ 30.1% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.4m | €1.5m | €1.8m | €2.4m | €2.3m | €2.2m | €2.2m | ▲ 0.6% |
| Equity10/15 | €0.9m | €1.0m | €1.8m | €1.8m | €1.7m | €1.7m | €1.7m | ▲ 1.3% |
| Contributions10/11 | €0.3m | €0 | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.6m | €0.7m | €1.8m | €1.8m | €1.7m | €1.7m | €1.7m | ▲ 1.3% |
| Distributable reserves133 | - | - | - | €1.8m | €1.7m | €1.7m | €1.7m | ▲ 1.3% |
| Profit (loss) carried forward14 | - | - | - | €0.04m | €0 | €0 | €0 | - |
| Amounts payable17/49 | €0.5m | €0.5m | €0.04m | €0.6m | €0.5m | €0.5m | €0.5m | ▼ 1.7% |
| Amounts payable after more than one year17 | - | - | - | €0.5m | €0.5m | €0.5m | €0.4m | ▼ 2.8% |
| Financial debts170/4 | - | - | - | €0.5m | €0.5m | €0.5m | €0.4m | ▼ 2.8% |
| Amounts payable within one year42/48 | €0.5m | €0.5m | €0.03m | €0.09m | €0.04m | €0.03m | €0.04m | ▲ 13.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | ▲ 1.2% |
| Trade debts44 | €277 | €0.004m | €0.003m | €357 | €0.001m | €223 | €170 | ▼ 23.6% |
| Suppliers440/4 | - | - | - | €357 | €0.001m | €223 | €170 | ▼ 23.6% |
| Taxes, remuneration and social security45 | - | - | - | - | - | - | €0.004m | - |
| Taxes450/3 | - | - | - | - | - | - | €0.004m | - |
| Other amounts payable47/48 | - | - | - | €0.08m | €0.03m | €0.02m | €0.02m | ▲ 1.1% |
| Accrued charges and deferred income492/3 | - | - | - | €430 | €430 | €478 | €495 | ▲ 3.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.1m | €0.1m | €1.1m | €0.1m | -€0.04m | -€0.04m | €0.04m | - |
| + Depreciation and write-downs630 | €404 | €350 | €0.002m | €0.02m | €0.02m | €0.02m | €0.02m | ▼ 1.2% |
| Operating cash flow (approximation) | €0.1m | €0.1m | €1.1m | €0.1m | -€0.02m | -€0.02m | €0.06m | - |
| Investment in fixed assets (approximation) | - | -€0.001m | €1.1m | -€0.6m | €0 | €0 | €0 | - |
| Change in cash | - | €0.07m | €0.03m | -€0.01m | -€0.2m | -€0.05m | €0.02m | - |
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 PROFINUS 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 PROFINUS 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 PROFINUS. 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 20 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 16-12-2025 | 2025-00582114 | |
| 30-06-2024 | micro format | 18-12-2024 | 2024-00618606 | |
| 30-06-2023 | micro format | 21-12-2023 | 2023-00533317 | |
| 30-06-2022 | micro format | 23-12-2022 | 2022-20544897 | |
| 30-06-2021 | abbreviated format | 27-01-2022 | 2022-02000283 | |
| 30-06-2020 | abbreviated format | 22-12-2020 | 2020-76400534 | |
| 30-06-2019 | abbreviated format | 16-12-2019 | 2019-75900487 | |
| 30-06-2018 | abbreviated format | 21-12-2018 | 2018-75100356 | |
| 30-06-2017 | abbreviated format | 22-02-2018 | 2018-05200528 | |
| 30-06-2016 | abbreviated format | 08-11-2016 | 2016-67600530 |