PROFUS
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 27-02-2026 PDF all 24 filings
Turnover
≈ €1.5m
Estimated: probably between €1.2m and €1.9m
EBIT margin
Not included in this filing
Net result
-€34,170
2024 · €79,291
Working capital
€53,106▼ 58.8%
2024 · €129,023
In the rankings
#3 company by total assets in Herstal, Accommodation and food service sector#3 company by equity in Herstal, Accommodation and food service sector#5 oldest company in Herstal, Accommodation and food service sector
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€65,134
▼ 52.2%
2025
20192025
Net result
-€34,170
2025
middle half of the sector
20192025
Equity
€1.6m
▼ 2.1%
2025
middle half of the sector
20192025
Total assets
€2.0m
▼ 8.3%
2025
middle half of the sector
20192025
Debt
€443,180
▼ 25.2%
2025
20192025
Working capital
€53,106
▼ 58.8%
2025
middle half of the sector
20192025
Solvency
78.0%
▲ 5.0pp
2025
highest quarter of the sector
20192025
Current ratio
1.16
▼ 0.19
2025
middle half of the sector
20192025
Return on assets (ROA)
-1.7%
▼ 5.3pp
2025
middle half of the sector
20192025
Staff (FTE)
10.9
▲ 6.9%
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€0.3m-€0.07m€0.06m▼ 14.6%€0.07m▲ 10.9%€0.2m▲ 191%€0.1m▼ 32.2%€0.07m▼ 52.2%
Net result-€0.3m-€0.04mabove the sector's middle half€0.04mwithin the sector's middle half▼ 13.7%€0.04mwithin the sector's middle half▲ 6.1%€0.1mwithin the sector's middle half▲ 201%€0.08mwithin the sector's middle half▼ 33.6%-€0.03mwithin the sector's middle half
Equity€1.3m-€1.3mwithin the sector's middle half▲ 3.4%€1.4mwithin the sector's middle half▲ 2.8%€1.4mwithin the sector's middle half▲ 2.9%€1.5mwithin the sector's middle half▲ 8.5%€1.6mwithin the sector's middle half▲ 5.2%€1.6mwithin the sector's middle half▼ 2.1%
Total assets€2.3m-€2.2mwithin the sector's middle half▼ 3.8%€2.1mwithin the sector's middle half▼ 2.6%€2.1mwithin the sector's middle half▼ 4.1%€2.2mwithin the sector's middle half▲ 5.7%€2.2mwithin the sector's middle half▲ 1.4%€2.0mwithin the sector's middle half▼ 8.3%
Debt€1.0m-€0.9m▼ 13.1%€0.8m▼ 10.8%€0.6m▼ 16.6%€0.6m▼ 0.4%€0.6m▼ 7.6%€0.4m▼ 25.2%
Working capital-€0.2m--€0.1mwithin the sector's middle half▲ 36.1%-€0.06mwithin the sector's middle half▲ 39.2%-€0.02mwithin the sector's middle half▲ 65.4%€0.09mwithin the sector's middle half€0.1mwithin the sector's middle half▲ 37.3%€0.05mwithin the sector's middle half▼ 58.8%
Solvency56.4%-60.6%above the sector's middle half▲ 4.2pp63.9%above the sector's middle half▲ 3.3pp68.6%above the sector's middle half▲ 4.7pp70.4%above the sector's middle half▲ 1.8pp73.0%above the sector's middle half▲ 2.6pp78.0%above the sector's middle half▲ 5.0pp
Current ratio0.50-0.61within the sector's middle half▲ 0.110.74within the sector's middle half▲ 0.130.90within the sector's middle half▲ 0.161.31within the sector's middle half▲ 0.411.36within the sector's middle half▲ 0.051.16within the sector's middle half▼ 0.19
Return on assets (ROA)-14.5%-2.0%above the sector's middle half▲ 16.5pp1.7%within the sector's middle half▼ 0.2pp1.9%within the sector's middle half▲ 0.2pp5.5%within the sector's middle half▲ 3.6pp3.6%within the sector's middle half▼ 1.9pp-1.7%within the sector's middle half▼ 5.3pp
Staff (FTE)10.8-10.4within the sector's middle half▼ 3.7%9within the sector's middle half▼ 13.5%9.3within the sector's middle half▲ 3.3%9.8within the sector's middle half▲ 5.4%10.2within the sector's middle half▲ 4.1%10.9within the sector's middle half▲ 6.9%
above
within
below
The sector band is the middle half of the companies in Accommodation (NACE 55). 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 52% lower than in 2024. It is the second fall in a row.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.0m
Fixed assets
€1.6m ▼ 4.3%
Current assets
€378,655 ▼ 22.6%
Equity and liabilities €2.0m
Equity
€1.6m ▼ 2.1%
Debt
€443,180 ▼ 25.2%
Debt's share of the balance-sheet total falls from 27.0% to 22.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€175,873▼
2024 · €238,298
Cash flow
€76,569▼
2024 · €181,344
Quick ratio
1.12▼
2024 · 1.29
Debt to equity
0.28▼
2024 · 0.37
ROE
-2.2%▼
2024 · 4.9%
Interest coverage
11.98▲
2024 · 10.55
Debt ≤ 1 year
€325,549▼
2024 · €360,487
Debt > 1 year
€117,631▼
2024 · €223,640
Income taxes
€85,220▲
2024 · €37,295
Staff costs
€548,890▼
2024 · €552,115
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-07-2022 | 31-07-2023 | 31-07-2024 | 31-07-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 14 | 14 | 16 | 16 |
| full-time | 4 | 4 | 3 | 2 |
| part-time | 10 | 10 | 13 | 14 |
| in full-time equivalents | 10.4 | 10.2 | 10.8 | 10.9 |
| Average over the year, in full-time equivalents | 9.3 | 9.8 | 10.2 | 10.9 |
| On a permanent contract | 10 | 9 | 11 | 15 |
| Joined | 11 | 16 | 22 | 14 |
| Left | 10 | 17 | 20 | 15 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Securities and guarantees
| Item | 31-07-2022 | 31-07-2023 | 31-07-2024 | 31-07-2025 |
|---|---|---|---|---|
| Mortgages, amount registered | €1.3m | - | - | - |
| Carrying value of the mortgaged assets | €1.9m | - | - | - |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 31-07-2022 | 31-07-2023 | 31-07-2024 | 31-07-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €0 | - | €42,914 | €37,422 |
| Financial fixed assets | - | - | - | €610 |
| Depreciation and write-downs of the year | €97,940 | €97,940 | €102,054 | €110,739 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €368 | €54,924 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | - | - | - | €445,105 | €490,310 | €552,115 | €548,890 | ▼ 0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €100,542 | €98,606 | €98,691 | €97,940 | €97,940 | €102,054 | €110,739 | ▲ 8.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | €52,814 | €0 | ▼ 100% |
| Other operating charges640/8 | - | - | - | €20,968 | €21,254 | €30,737 | €32,484 | ▲ 5.7% |
| Non-recurring operating charges66A | - | - | - | €14 | €9,814 | €139 | €1,003 | ▲ 623% |
| Gross operating margin9900 | €716,594 | €705,577 | €624,210 | €633,035 | €820,282 | €874,102 | €758,250 | ▼ 13.3% |
| Operating profit (loss)9901 | -€289,927 | €72,828 | €62,222 | €69,007 | €200,964 | €136,244 | €65,134 | ▼ 52.2% |
| Financial income75/76B | - | - | - | €4,507 | €1,194 | €2,931 | €594 | ▼ 79.7% |
| Recurring financial income75 | €734 | €2,486 | €2,756 | €4,507 | €1,194 | €2,931 | €594 | ▼ 79.7% |
| Financial charges65/66B | - | - | - | €24,242 | €18,290 | €22,590 | €14,679 | ▼ 35.0% |
| Recurring financial charges65 | €39,979 | €30,991 | €26,633 | €24,242 | €18,290 | €22,590 | €14,679 | ▼ 35.0% |
| Profit (loss) for the period before taxes9903 | -€329,171 | €44,323 | €38,346 | €49,272 | €183,868 | €116,586 | €51,050 | ▼ 56.2% |
| Income taxes67/77 | €1,689 | €1,060 | €1,005 | €9,635 | €64,386 | €37,295 | €85,220 | ▲ 129% |
| Profit (loss) for the period9904 | -€330,860 | €43,263 | €37,341 | €39,637 | €119,482 | €79,291 | -€34,170 | - |
| Profit (loss) for the period to be appropriated9905 | -€330,860 | €43,263 | €37,341 | €39,637 | €119,482 | €79,291 | -€34,170 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €2.3m | €2.2m | €2.1m | €2.1m | €2.2m | €2.2m | €2.0m | ▼ 8.3% |
| Fixed assets21/28 | €2.1m | €2.0m | €2.0m | €1.9m | €1.8m | €1.7m | €1.6m | ▼ 4.3% |
| Tangible fixed assets22/27 | €2.1m | €2.0m | €2.0m | €1.9m | €1.8m | €1.7m | €1.6m | ▼ 4.3% |
| Land and buildings22 | - | - | - | €1.9m | €1.8m | €1.7m | €1.6m | ▼ 5.9% |
| Plant, machinery and equipment23 | - | - | - | - | - | €0.04m | €0.06m | ▲ 63.5% |
| Financial fixed assets28 | €0.007m | €0.007m | €0.007m | €0.007m | €0.007m | €0.007m | €0.008m | ▲ 8.9% |
| Current assets29/58 | €0.2m | €0.2m | €0.2m | €0.2m | €0.4m | €0.5m | €0.4m | ▼ 22.6% |
| Stocks and contracts in progress3 | €0.02m | €0.02m | €0.02m | €0.03m | €0.03m | €0.02m | €0.02m | ▼ 38.0% |
| Stocks30/36 | - | - | - | €0.03m | €0.03m | €0.02m | €0.02m | ▼ 38.0% |
| Amounts receivable within one year40/41 | €0.1m | €0.1m | €0.09m | €0.1m | €0.1m | €0.2m | €0.3m | ▲ 72.0% |
| Trade receivables40 | - | - | - | €0.04m | €0.07m | €0.1m | €0.2m | ▲ 100% |
| Other amounts receivable41 | - | - | - | €0.06m | €0.08m | €0.05m | €0.06m | ▲ 15.2% |
| Cash at bank and in hand54/58 | €0.001m | €0.008m | €0.04m | €0.06m | €0.2m | €0.3m | €0.1m | ▼ 68.2% |
| Deferred charges and accrued income490/1 | - | - | - | €0 | - | €0.001m | €0.001m | ▼ 21.2% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €2.3m | €2.2m | €2.1m | €2.1m | €2.2m | €2.2m | €2.0m | ▼ 8.3% |
| Equity10/15 | €1.3m | €1.3m | €1.4m | €1.4m | €1.5m | €1.6m | €1.6m | ▼ 2.1% |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Capital10 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Issued capital100 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Uncalled capital101 | - | - | - | €0.005m | €0.005m | €0.005m | €0.005m | = |
| Revaluation surpluses12 | - | - | - | €1.6m | €1.6m | €1.6m | €1.6m | = |
| Profit (loss) carried forward14 | -€0.4m | -€0.4m | -€0.3m | -€0.3m | -€0.2m | -€0.1m | -€0.1m | ▼ 32.8% |
| Amounts payable17/49 | €1.0m | €0.9m | €0.8m | €0.6m | €0.6m | €0.6m | €0.4m | ▼ 25.2% |
| Amounts payable after more than one year17 | €0.7m | €0.6m | €0.5m | €0.4m | €0.3m | €0.2m | €0.1m | ▼ 47.4% |
| Financial debts170/4 | - | - | - | €0.4m | €0.3m | €0.2m | €0.1m | ▼ 47.4% |
| Amounts payable within one year42/48 | €0.3m | €0.3m | €0.2m | €0.2m | €0.3m | €0.4m | €0.3m | ▼ 9.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 2.5% |
| Trade debts44 | €0.1m | €0.06m | €0.07m | €0.03m | €0.06m | €0.03m | €0.03m | ▼ 26.1% |
| Suppliers440/4 | - | - | - | €0.03m | €0.06m | €0.03m | €0.03m | ▼ 26.1% |
| Advances received on contracts in progress46 | - | - | - | - | - | €0.1m | €0.1m | ▲ 17.7% |
| Taxes, remuneration and social security45 | - | - | - | €0.07m | €0.1m | €0.1m | €0.07m | ▼ 36.9% |
| Taxes450/3 | - | - | - | €0.02m | €0.07m | €0.04m | €0.01m | ▼ 65.6% |
| Remuneration and social security454/9 | - | - | - | €0.05m | €0.06m | €0.06m | €0.05m | ▼ 17.5% |
| Other amounts payable47/48 | - | - | - | €0.01m | €0.02m | €0.02m | €0.01m | ▼ 41.8% |
| Accrued charges and deferred income492/3 | - | - | - | €0.01m | €0.008m | €0.008m | €0 | ▼ 100% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€330,860 | €43,263 | €37,341 | €39,637 | €119,482 | €79,291 | -€34,170 | - |
| + Depreciation and write-downs630 | €100,542 | €98,606 | €98,691 | €97,940 | €97,940 | €102,054 | €110,739 | ▲ 8.5% |
| Operating cash flow (approximation) | -€230,318 | €141,869 | €136,032 | €137,577 | €217,423 | €181,344 | €76,569 | ▼ 57.8% |
| Investment in fixed assets (approximation) | - | -€11,168 | -€25,592 | €3,000 | €0 | -€42,914 | -€38,032 | ▲ 11.4% |
| Change in cash | - | €7,499 | €35,514 | €15,894 | €164,194 | €86,617 | -€211,751 | - |
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, 8,617 companies had the same profile as PROFUS has now. Two years later, 94.1% were still going and 0.4% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a small loss
94.1%
was still going
5.2%
stopped otherwise
0.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of PROFUS itself: 0.2% 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 8,617 companies, not a prediction for PROFUS. 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 24 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-07-2025 | full format | 27-02-2026 | 2026-00047092 | |
| 31-07-2024 | full format | 28-02-2025 | 2025-00043374 | |
| 31-07-2023 | full format | 29-02-2024 | 2024-00038379 | |
| 31-07-2022 | full format | 28-02-2023 | 2023-00035286 | |
| 31-07-2021 | full format | 28-02-2022 | 2022-06800493 | |
| 31-07-2020 | full format | 03-03-2021 | 2021-06900483 | |
| 31-07-2019 | full format | 02-03-2020 | 2020-06200465 | |
| 31-07-2018 | full format | 01-03-2019 | 2019-06300205 | |
| 31-07-2017 | full format | 09-03-2018 | 2018-06700426 | |
| 31-07-2016 | full format | 14-03-2017 | 2017-06300533 |