PROFISCUS
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 25-07-2026 at the NBB all 41 filings
Turnover
≈ €15,000
Estimated: probably between €9,200 and €26,000
Total assets
€154,908▼ 0.2%
2024 · €155,296
Net result
-€2,910▼ 488%
2024 · -€495
Working capital
€72,590▲ 3.4%
2024 · €70,177
In the rankings
#5 oldest company in Cerfontaine
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€4,141
▲ 16.7%
2025
20182025
Net result
-€2,910
▼ 488%
2025
lowest quarter of the sector
20182025
Equity
€145,003
▼ 2.0%
2025
middle half of the sector
20182025
Total assets
€154,908
▼ 0.2%
2025
lowest quarter of the sector
20182025
Debt
€9,905
▲ 34.2%
2025
20182025
Working capital
€72,590
▲ 3.4%
2025
middle half of the sector
20182025
Solvency
93.6%
▼ 1.6pp
2025
highest quarter of the sector
20182025
Current ratio
9.32
▼ 3.20
2025
highest quarter of the sector
20182025
Return on assets (ROA)
-1.9%
▼ 1.6pp
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€7,243-€4,474▼ 38.2%-€1,488-€5,910▼ 297%-€11,136▼ 88.4%€3,258-€4,970-€4,141▲ 16.7%
Net result€4,901-€1,761▼ 64.1%-€1,055below the sector's middle half-€4,926below the sector's middle half▼ 367%-€7,730below the sector's middle half▼ 56.9%€5,284below the sector's middle half-€495below the sector's middle half-€2,910below the sector's middle half▼ 488%
Equity€155,074-€156,835▲ 1.1%€155,780within the sector's middle half▼ 0.7%€150,855within the sector's middle half▼ 3.2%€143,125within the sector's middle half▼ 5.1%€148,409within the sector's middle half▲ 3.7%€147,914within the sector's middle half▼ 0.3%€145,003within the sector's middle half▼ 2.0%
Total assets€201,363-€189,041▼ 6.1%€180,416within the sector's middle half▼ 4.6%€170,773within the sector's middle half▼ 5.3%€152,030within the sector's middle half▼ 11.0%€155,453within the sector's middle half▲ 2.3%€155,296within the sector's middle half▼ 0.1%€154,908below the sector's middle half▼ 0.2%
Debt€46,289-€32,206▼ 30.4%€24,636▼ 23.5%€19,918▼ 19.2%€8,905▼ 55.3%€7,044▼ 20.9%€7,382▲ 4.8%€9,905▲ 34.2%
Working capital€29,194-€39,903▲ 36.7%€46,220within the sector's middle half▲ 15.8%€48,617within the sector's middle half▲ 5.2%€56,079within the sector's middle half▲ 15.3%€67,577within the sector's middle half▲ 20.5%€70,177within the sector's middle half▲ 3.8%€72,590within the sector's middle half▲ 3.4%
Solvency77.0%-83.0%▲ 6.0pp86.3%above the sector's middle half▲ 3.4pp88.3%above the sector's middle half▲ 2.0pp94.1%above the sector's middle half▲ 5.8pp95.5%above the sector's middle half▲ 1.3pp95.2%above the sector's middle half▼ 0.2pp93.6%above the sector's middle half▼ 1.6pp
Current ratio2.17-3.30▲ 1.133.82within the sector's middle half▲ 0.523.58within the sector's middle half▼ 0.247.75above the sector's middle half▲ 4.1710.59above the sector's middle half▲ 2.8512.52above the sector's middle half▲ 1.939.32above the sector's middle half▼ 3.20
Return on assets (ROA)2.4%-0.9%▼ 1.5pp-0.6%below the sector's middle half▼ 1.5pp-2.9%below the sector's middle half▼ 2.3pp-5.1%below the sector's middle half▼ 2.2pp3.4%below the sector's middle half▲ 8.5pp-0.3%below the sector's middle half▼ 3.7pp-1.9%below the sector's middle half▼ 1.6pp
above
within
below
The sector band is the middle half of the companies in Legal and accounting activities (NACE 69). 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 a loss of €4,141, smaller than the loss of €4,970 in 2024.
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 €154,908
Fixed assets
€73,590 ▼ 6.9%
Current assets
€81,318 ▲ 6.6%
Equity and liabilities €154,908
Equity
€145,003 ▼ 2.0%
Debt
€9,905 ▲ 34.2%
Debt's share of the balance-sheet total rises from 4.8% to 6.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€3,973▼
2024 · €4,007
Cash flow
€5,204▼
2024 · €8,482
Debt to equity
0.07▲
2024 · 0.05
ROE
-2.0%▼
2024 · -0.3%
Interest coverage
30.10▼
2024 · 45.53
Debt ≤ 1 year
€8,728▲
2024 · €6,092
Income taxes
€970▼
2024 · €979
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Overdue debts
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Overdue tax debts | €1,034 | €362 | €353 | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,993 | - | €1,369 | €7,173 | €2,677 |
| Depreciation and write-downs of the year | €16,468 | €15,686 | €8,178 | €8,977 | €8,114 |
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 | €16,388 | €17,089 | €18,319 | €16,468 | €15,686 | €8,178 | €8,977 | €8,114 | ▼ 9.6% |
| Other operating charges640/8 | - | - | - | €100 | €100 | €50 | €833 | - | - |
| Gross operating margin9900 | €23,731 | €21,663 | €16,831 | €10,658 | €4,650 | €11,486 | €4,840 | €3,973 | ▼ 17.9% |
| Operating profit (loss)9901 | €7,243 | €4,474 | -€1,488 | -€5,910 | -€11,136 | €3,258 | -€4,970 | -€4,141 | ▲ 16.7% |
| Financial income75/76B | - | - | - | €2,805 | €3,876 | €2,193 | €5,542 | €2,333 | ▼ 57.9% |
| Recurring financial income75 | €2,954 | €3,436 | €3,783 | €2,805 | €3,876 | €2,193 | €3,542 | €2,333 | ▼ 34.1% |
| Non-recurring financial income76B | - | - | - | - | - | - | €2,000 | - | - |
| Financial charges65/66B | - | - | - | €886 | €470 | €109 | €88 | €132 | ▲ 50.0% |
| Recurring financial charges65 | €2,376 | €1,645 | €1,282 | €886 | €470 | €109 | €88 | €132 | ▲ 50.0% |
| Profit (loss) for the period before taxes9903 | €7,821 | €6,265 | €1,013 | -€3,991 | -€7,730 | €5,342 | €484 | -€1,940 | - |
| Income taxes67/77 | €2,920 | €4,504 | €2,068 | €935 | - | €58 | €979 | €970 | ▼ 0.9% |
| Profit (loss) for the period9904 | €4,901 | €1,761 | -€1,055 | -€4,926 | -€7,730 | €5,284 | -€495 | -€2,910 | ▼ 488% |
| Profit (loss) for the period to be appropriated9905 | €4,901 | €1,761 | -€1,055 | -€4,926 | -€7,730 | €5,284 | -€495 | -€2,910 | ▼ 488% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €201,363 | €189,041 | €180,416 | €170,773 | €152,030 | €155,453 | €155,296 | €154,908 | ▼ 0.2% |
| Fixed assets21/28 | €147,245 | €131,797 | €117,803 | €103,328 | €87,641 | €80,832 | €79,027 | €73,590 | ▼ 6.9% |
| Tangible fixed assets22/27 | €147,245 | €131,797 | €117,803 | €103,328 | €87,641 | €80,832 | €79,027 | €73,590 | ▼ 6.9% |
| Land and buildings22 | - | - | - | €52,453 | €49,745 | €47,038 | €44,331 | €41,624 | ▼ 6.1% |
| Plant, machinery and equipment23 | - | - | - | €46,795 | €35,494 | €31,744 | €33,117 | €30,075 | ▼ 9.2% |
| Furniture and vehicles24 | - | - | - | €4,080 | €2,402 | €2,050 | €1,579 | €1,891 | ▲ 19.8% |
| Current assets29/58 | €54,118 | €57,244 | €62,613 | €67,445 | €64,389 | €74,621 | €76,269 | €81,318 | ▲ 6.6% |
| Amounts receivable within one year40/41 | €191 | - | €459 | €30 | €871 | €741 | €458 | €486 | ▲ 6.1% |
| Trade receivables40 | - | - | - | - | €871 | €741 | €458 | €399 | ▼ 12.9% |
| Other amounts receivable41 | - | - | - | €30 | - | - | - | €87 | - |
| Cash at bank and in hand54/58 | €53,927 | €57,244 | €62,154 | €67,415 | €63,518 | €73,880 | €75,811 | €80,832 | ▲ 6.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €201,363 | €189,041 | €180,416 | €170,773 | €152,030 | €155,453 | €155,296 | €154,908 | ▼ 0.2% |
| Equity10/15 | €155,074 | €156,835 | €155,780 | €150,855 | €143,125 | €148,409 | €147,914 | €145,003 | ▼ 2.0% |
| Contributions10/11 | €74,368 | €74,368 | €74,368 | €74,368 | €74,368 | €74,368 | €74,368 | €74,367 | = |
| Capital10 | - | - | - | €74,368 | €74,368 | €74,368 | €74,368 | €74,367 | = |
| Issued capital100 | - | - | - | €74,368 | €74,368 | €74,368 | €74,368 | €74,367 | = |
| Reserves13 | €78,922 | €78,922 | €78,922 | €78,923 | €78,923 | €78,923 | €78,923 | €78,923 | = |
| Non-distributable reserves130/1 | - | - | - | €3,917 | €3,917 | €3,917 | €3,917 | €3,917 | = |
| Legal reserve130 | - | - | - | €3,917 | €3,917 | €3,917 | €3,917 | €3,917 | = |
| Distributable reserves133 | - | - | - | €75,006 | €75,006 | €75,006 | €75,006 | €75,006 | = |
| Profit (loss) carried forward14 | €1,784 | €3,545 | €2,490 | -€2,436 | -€10,166 | -€4,882 | -€5,377 | -€8,287 | ▼ 54.1% |
| Amounts payable17/49 | €46,289 | €32,206 | €24,636 | €19,918 | €8,905 | €7,044 | €7,382 | €9,905 | ▲ 34.2% |
| Amounts payable after more than one year17 | €20,795 | €13,795 | €7,672 | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €24,924 | €17,341 | €16,393 | €18,828 | €8,310 | €7,044 | €6,092 | €8,728 | ▲ 43.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €7,672 | €1,132 | - | - | - | - |
| Trade debts44 | €1,184 | €965 | €650 | €286 | €659 | €456 | €590 | €363 | ▼ 38.5% |
| Suppliers440/4 | - | - | - | €286 | €659 | €456 | €590 | €363 | ▼ 38.5% |
| Taxes, remuneration and social security45 | - | - | - | €1,034 | €362 | €353 | - | €680 | - |
| Taxes450/3 | - | - | - | €1,034 | €362 | €353 | - | €680 | - |
| Other amounts payable47/48 | - | - | - | €9,836 | €6,157 | €6,235 | €5,502 | €7,685 | ▲ 39.7% |
| Accrued charges and deferred income492/3 | - | - | - | €1,090 | €595 | - | €1,290 | €1,177 | ▼ 8.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,901 | €1,761 | -€1,055 | -€4,926 | -€7,730 | €5,284 | -€495 | -€2,910 | ▼ 488% |
| + Depreciation and write-downs630 | €16,388 | €17,089 | €18,319 | €16,468 | €15,686 | €8,178 | €8,977 | €8,114 | ▼ 9.6% |
| Operating cash flow (approximation) | €21,289 | €18,850 | €17,264 | €11,542 | €7,956 | €13,462 | €8,482 | €5,204 | ▼ 38.6% |
| Investment in fixed assets (approximation) | - | -€1,641 | -€4,325 | -€1,993 | €1 | -€1,369 | -€7,172 | -€2,677 | ▲ 62.7% |
| Change in cash | - | €3,317 | €4,910 | €5,261 | -€3,897 | €10,362 | €1,931 | €5,021 | ▲ 160% |
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, 12,322 companies had the same profile as PROFISCUS has now. Two years later, 90.3% were still going and 0.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
90.3%
was still going
8.6%
stopped otherwise
0.7%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of PROFISCUS 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 12,322 companies, not a prediction for PROFISCUS. 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 41 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 25-07-2026 | 2026-00350374 | |
| 31-12-2024 | micro format | 22-06-2025 | 2025-00176898 | |
| 31-12-2023 | micro format | 23-06-2024 | 2024-00161415 | |
| 31-12-2022 | micro format | 23-07-2023 | 2023-00263911 | |
| 31-12-2021 | micro format | 31-07-2022 | 2022-20256043 | |
| 31-12-2020 | micro format | 14-06-2021 | 2021-20600464 | |
| 31-12-2019 | micro format | 28-02-2020 | 2020-06000184 | |
| 31-12-2018 | micro format | 09-04-2019 | 2019-09600057 | |
| 31-12-2017 | full format | 13-04-2018 | 2018-09900591 | |
| 31-12-2016 | full format | 28-03-2017 | 2017-07500473 |