PROFIWASH
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 24-07-2026 at the NBB all 23 filings
Turnover
≈ €680,000
Estimated: probably between €340,000 and €1.2m
Total assets
€135,186▼ 47.9%
2024 · €259,240
Net result
€53,359
2024 · -€51,069
Working capital
€35,423
2024 · -€19,202
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€54,521
2025
20182025
Net result
€53,359
2025
middle half of the sector
20182025
Equity
€37,466
2025
lowest quarter of the sector
20182025
Total assets
€135,186
▼ 47.9%
2025
lowest quarter of the sector
20182025
Debt
€97,720
▼ 64.5%
2025
20182025
Working capital
€35,423
2025
middle half of the sector
20182025
Solvency
27.7%
▲ 33.8pp
2025
middle half of the sector
20182025
Current ratio
1.36
▲ 0.43
2025
middle half of the sector
20182025
Return on assets (ROA)
39.5%
▲ 59.2pp
2025
highest quarter of the sector
20182025
Staff (FTE)
3.4
▼ 80.5%
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-€10,198--€42,843▼ 320%€4,652-€33,786-€9,324▲ 72.4%€14,980-€47,748€54,521
Net result-€11,885-€221,119€3,498within the sector's middle half▼ 98.4%-€34,844below the sector's middle half-€14,744below the sector's middle half▲ 57.7%€14,386within the sector's middle half-€51,069below the sector's middle half€53,359within the sector's middle half
Equity-€154,238-€66,881€70,379below the sector's middle half▲ 5.2%€35,535below the sector's middle half▼ 49.5%€20,791below the sector's middle half▼ 41.5%€35,177below the sector's middle half▲ 69.2%-€15,892below the sector's middle half€37,466below the sector's middle half
Total assets€209,345-€130,232▼ 37.8%€140,124below the sector's middle half▲ 7.6%€109,892below the sector's middle half▼ 21.6%€98,810below the sector's middle half▼ 10.1%€173,082below the sector's middle half▲ 75.2%€259,240below the sector's middle half▲ 49.8%€135,186below the sector's middle half▼ 47.9%
Debt€363,583-€63,351▼ 82.6%€69,745▲ 10.1%€74,357▲ 6.6%€78,019▲ 4.9%€137,905▲ 76.8%€275,132▲ 99.5%€97,720▼ 64.5%
Working capital-€228,903-€17,294€17,263below the sector's middle half▼ 0.2%€15,898below the sector's middle half▼ 7.9%€7,817below the sector's middle half▼ 50.8%€39,250below the sector's middle half▲ 402%-€19,202below the sector's middle half€35,423within the sector's middle half
Solvency-73.7%-51.4%▲ 125.0pp50.2%within the sector's middle half▼ 1.1pp32.3%within the sector's middle half▼ 17.9pp21.0%within the sector's middle half▼ 11.3pp20.3%below the sector's middle half▼ 0.7pp-6.1%below the sector's middle half▼ 26.5pp27.7%within the sector's middle half▲ 33.8pp
Current ratio0.37-1.29▲ 0.931.25within the sector's middle half▼ 0.041.21within the sector's middle half▼ 0.041.10below the sector's middle half▼ 0.111.29within the sector's middle half▲ 0.190.93below the sector's middle half▼ 0.361.36within the sector's middle half▲ 0.43
Return on assets (ROA)-5.7%-169.8%▲ 175.5pp2.5%within the sector's middle half▼ 167.3pp-31.7%below the sector's middle half▼ 34.2pp-14.9%below the sector's middle half▲ 16.8pp8.3%within the sector's middle half▲ 23.2pp-19.7%below the sector's middle half▼ 28.0pp39.5%above the sector's middle half▲ 59.2pp
Staff (FTE)1-1.1below the sector's middle half2.3within the sector's middle half▲ 109%2.4within the sector's middle half▲ 4.3%6.2within the sector's middle half▲ 158%17.4above the sector's middle half▲ 181%3.4within the sector's middle half▼ 80.5%
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 profit of €54,521, after a loss of €47,748 in 2024. It is the highest result since 2021.
Turnover and EBIT margin are not published. The abbreviated 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 €135,186
Fixed assets
€2,043 ▼ 38.3%
Current assets
€133,143 ▼ 48.0%
Equity and liabilities €135,186
Equity
€37,466
Debt
€97,720
Debt's share of the balance-sheet total is 72.3%.
Key figures and ratios
EBITDA
€55,788▲
2024 · -€47,259
Cash flow
€54,625▲
2024 · -€50,580
Debt to equity
2.61
ROE
142.4%
Interest coverage
47.98▲
2024 · -12.48
Debt ≤ 1 year
€97,720▼
2024 · €275,132
Staff costs
€71,067▼
2024 · €230,985
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 | 3 | 2 | 18 | 9 | 2 |
| full-time | 3 | 2 | 16 | 7 | 1 |
| part-time | - | - | 2 | 2 | 1 |
| in full-time equivalents | 3 | 2 | 17.4 | 8.3 | 1.6 |
| Average over the year, in full-time equivalents | 2.3 | 2.4 | 6.2 | 17.4 | 3.4 |
| On a permanent contract | 3 | 2 | 17 | 8 | 2 |
| Joined | 1 | 1 | 29 | 25 | 0 |
| Left | 0 | 2 | 13 | 33 | 7 |
| Training hours | - | - | - | 0 | 0 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Overdue debts
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Overdue social security (RSZ) debts | - | - | - | - | €4,044 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €464 | - | - | €3,799 | - |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €9,706 | €6,662 | - | €489 | €1,266 |
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 | - | - | - | - | - | €64,356 | €0 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €81,859 | €91,779 | €165,637 | €230,985 | €71,067 | ▼ 69.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €26,312 | €24,047 | €23,188 | €9,706 | €6,662 | - | €489 | €1,266 | ▲ 159% |
| Other operating charges640/8 | - | - | - | €4,567 | €1,683 | €11,606 | €33,272 | €4,823 | ▼ 85.5% |
| Non-recurring operating charges66A | - | - | - | - | - | €2,331 | €0 | - | - |
| Gross operating margin9900 | €45,284 | -€17,117 | €66,088 | €62,346 | €90,800 | €194,554 | €216,997 | €131,677 | ▼ 39.3% |
| Operating profit (loss)9901 | -€10,198 | -€42,843 | €4,652 | -€33,786 | -€9,324 | €14,980 | -€47,748 | €54,521 | - |
| Financial income75/76B | - | - | - | - | €549 | - | €467 | €0 | ▼ 100% |
| Recurring financial income75 | €456 | €0 | €31 | - | €549 | - | €467 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €825 | €5,968 | €592 | €3,788 | €1,163 | ▼ 69.3% |
| Recurring financial charges65 | €4,652 | €275 | €93 | €825 | €5,968 | €592 | €3,788 | €1,163 | ▼ 69.3% |
| Profit (loss) for the period before taxes9903 | -€11,885 | €221,119 | €5,781 | -€34,611 | -€14,744 | €14,388 | -€51,069 | €53,359 | - |
| Income taxes67/77 | - | - | €2,283 | €233 | - | €3 | €0 | - | - |
| Profit (loss) for the period9904 | -€11,885 | €221,119 | €3,498 | -€34,844 | -€14,744 | €14,386 | -€51,069 | €53,359 | - |
| Profit (loss) for the period to be appropriated9905 | -€11,885 | €221,119 | €3,498 | -€34,844 | -€14,744 | €14,386 | -€51,069 | €53,359 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €209,345 | €130,232 | €140,124 | €109,892 | €98,810 | €173,082 | €259,240 | €135,186 | ▼ 47.9% |
| Formation expenses20 | €2,853 | - | - | - | - | - | - | - | - |
| Fixed assets21/28 | €73,809 | €53,715 | €53,714 | €19,637 | €12,974 | - | €3,309 | €2,043 | ▼ 38.3% |
| Tangible fixed assets22/27 | €73,809 | €53,715 | €53,714 | €19,637 | €12,974 | - | €3,309 | €2,043 | ▼ 38.3% |
| Plant, machinery and equipment23 | - | - | - | €16,032 | €10,243 | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €866 | €2,732 | - | €3,309 | €2,043 | ▼ 38.3% |
| Other tangible fixed assets26 | - | - | - | €2,739 | - | - | - | - | - |
| Current assets29/58 | €132,684 | €76,517 | €86,410 | €90,255 | €85,836 | €173,082 | €255,930 | €133,143 | ▼ 48.0% |
| Stocks and contracts in progress3 | €31,396 | €23,074 | €12,000 | €12,000 | - | - | - | - | - |
| Stocks30/36 | - | - | - | €12,000 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €98,199 | €48,877 | €41,489 | €69,694 | €73,605 | €156,977 | €249,535 | €131,377 | ▼ 47.4% |
| Trade receivables40 | - | - | - | €69,694 | €73,605 | €133,751 | €249,535 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | - | - | €23,226 | €0 | €131,377 | - |
| Cash at bank and in hand54/58 | €2,249 | €613 | €12,307 | €7,142 | €9,961 | €15,064 | €5,931 | €1,119 | ▼ 81.1% |
| Deferred charges and accrued income490/1 | - | - | - | €1,419 | €2,270 | €1,041 | €465 | €647 | ▲ 39.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €209,345 | €130,232 | €140,124 | €109,892 | €98,810 | €173,082 | €259,240 | €135,186 | ▼ 47.9% |
| Equity10/15 | -€154,238 | €66,881 | €70,379 | €35,535 | €20,791 | €35,177 | -€15,892 | €37,466 | - |
| Contributions10/11 | €18,550 | €18,550 | - | €18,550 | €18,550 | €18,550 | €18,550 | €18,550 | = |
| Reserves13 | €43,591 | €48,331 | €51,829 | €16,985 | €16,985 | €16,985 | €16,985 | €16,985 | = |
| Non-distributable reserves130/1 | - | - | - | €1,855 | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Reserves not available under the articles1311 | - | - | - | €1,855 | €1,855 | €1,855 | €1,855 | €1,855 | = |
| Distributable reserves133 | - | - | - | €15,130 | €15,130 | €15,130 | €15,130 | €15,130 | = |
| Profit (loss) carried forward14 | -€216,379 | - | - | - | -€14,744 | -€358 | -€51,427 | €1,931 | - |
| Amounts payable17/49 | €363,583 | €63,351 | €69,745 | €74,357 | €78,019 | €137,905 | €275,132 | €97,720 | ▼ 64.5% |
| Amounts payable after more than one year17 | €1,466 | - | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €361,587 | €59,224 | €69,148 | €74,357 | €78,019 | €133,831 | €275,132 | €97,720 | ▼ 64.5% |
| Trade debts44 | €73,117 | €34,072 | €21,379 | €36,470 | €24,411 | €97,507 | €230,843 | €1,884 | ▼ 99.2% |
| Suppliers440/4 | - | - | - | €36,470 | €24,411 | €97,507 | €230,843 | €1,884 | ▼ 99.2% |
| Taxes, remuneration and social security45 | - | - | - | €19,225 | €19,257 | €36,325 | €36,949 | €5,224 | ▼ 85.9% |
| Taxes450/3 | - | - | - | €11,257 | €15,183 | €26,515 | €26,194 | €85 | ▼ 99.7% |
| Remuneration and social security454/9 | - | - | - | €7,968 | €4,075 | €9,810 | €10,755 | €5,139 | ▼ 52.2% |
| Other amounts payable47/48 | - | - | - | €18,662 | €34,351 | - | €7,340 | €90,612 | ▲ 12× |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €4,074 | €0 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€11,885 | €221,119 | €3,498 | -€34,844 | -€14,744 | €14,386 | -€51,069 | €53,359 | - |
| + Depreciation and write-downs630 | €26,312 | €24,047 | €23,188 | €9,706 | €6,662 | - | €489 | €1,266 | ▲ 159% |
| Operating cash flow (approximation) | €14,426 | €245,165 | €26,687 | -€25,138 | -€8,082 | €14,386 | -€50,580 | €54,625 | - |
| Investment in fixed assets (approximation) | - | -€3,953 | -€23,187 | €24,371 | €0 | - | - | €0 | - |
| Change in cash | - | -€1,635 | €11,693 | -€5,165 | €2,820 | €5,103 | -€9,134 | -€4,812 | ▲ 47.3% |
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, 3,818 companies had the same profile as PROFIWASH has now. Two years later, 95.1% were still going and 1.0% had gone bankrupt.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
95.1%
was still going
3.7%
stopped otherwise
1.0%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of PROFIWASH itself: 0.6% 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 3,818 companies, not a prediction for PROFIWASH. 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 23 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 24-07-2026 | 2026-00343722 | |
| 31-12-2024 | abbreviated format | 29-08-2025 | 2025-00463145 | |
| 31-12-2023 | abbreviated format | 29-08-2024 | 2024-00452319 | |
| 31-12-2022 | abbreviated format | 16-08-2023 | 2023-00330690 | |
| 31-12-2021 | abbreviated format | 26-07-2022 | 2022-20233436 | |
| 31-12-2020 | abbreviated format | 24-08-2021 | 2021-52400144 | |
| 31-12-2019 | abbreviated format | 29-06-2020 | 2020-22200311 | |
| 31-12-2018 | abbreviated format | 04-06-2019 | 2019-16000040 | |
| 31-12-2017 | abbreviated format | 08-06-2018 | 2018-17400331 | |
| 31-12-2016 | abbreviated format | 31-07-2017 | 2017-39500149 |