PROTECTSYS
ActiveFinancials · financial year 2024, micro format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 3 November 2026.
Annual accounts 2024 filed on 28-10-2025 PDF all 8 filings
Turnover
≈ €460,000
Estimated: probably between €260,000 and €760,000
Total assets
€178,335▲ 31.3%
2023 · €135,867
Net result
€25,818▼ 17.8%
2023 · €31,417
Working capital
€102,212▲ 13.3%
2023 · €90,247
Multi-year overview
2018 to 2024, 7 financial yearsOperating result
€36,618
▼ 15.0%
2024
20182024
Net result
€25,818
▼ 17.8%
2024
highest quarter of the sector
20182024
Equity
€132,779
▲ 24.1%
2024
highest quarter of the sector
20182024
Total assets
€178,335
▲ 31.3%
2024
middle half of the sector
20182024
Debt
€45,556
▲ 57.6%
2024
20182024
Working capital
€102,212
▲ 13.3%
2024
highest quarter of the sector
20182024
Solvency
74.5%
▼ 4.3pp
2024
highest quarter of the sector
20182024
Current ratio
3.24
▼ 0.88
2024
highest quarter of the sector
20182024
Return on assets (ROA)
14.5%
▼ 8.6pp
2024
highest quarter of the sector
20182024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Operating result€7,094-€25,483▲ 259%€6,681▼ 73.8%€9,266▲ 38.7%€42,480▲ 358%€43,095▲ 1.4%€36,618▼ 15.0%
Net result€6,141-€17,410▲ 183%€6,639within the sector's middle half▼ 61.9%€9,598within the sector's middle half▲ 44.6%€31,867above the sector's middle half▲ 232%€31,417above the sector's middle half▼ 1.4%€25,818above the sector's middle half▼ 17.8%
Equity€10,029-€27,439▲ 174%€34,078within the sector's middle half▲ 24.2%€43,677within the sector's middle half▲ 28.2%€75,544within the sector's middle half▲ 73.0%€106,961within the sector's middle half▲ 41.6%€132,779above the sector's middle half▲ 24.1%
Total assets€13,206-€44,271▲ 235%€54,431below the sector's middle half▲ 22.9%€57,620below the sector's middle half▲ 5.9%€161,029within the sector's middle half▲ 179%€135,867within the sector's middle half▼ 15.6%€178,335within the sector's middle half▲ 31.3%
Debt€3,177-€16,832▲ 430%€20,353▲ 20.9%€13,944▼ 31.5%€85,486▲ 513%€28,907▼ 66.2%€45,556▲ 57.6%
Working capital€9,199-€27,024▲ 194%€31,963within the sector's middle half▲ 18.3%€42,162within the sector's middle half▲ 31.9%€74,602within the sector's middle half▲ 76.9%€90,247above the sector's middle half▲ 21.0%€102,212above the sector's middle half▲ 13.3%
Solvency75.9%-62.0%▼ 14.0pp62.6%above the sector's middle half▲ 0.6pp75.8%above the sector's middle half▲ 13.2pp46.9%within the sector's middle half▼ 28.9pp78.7%above the sector's middle half▲ 31.8pp74.5%above the sector's middle half▼ 4.3pp
Current ratio3.90-2.61▼ 1.292.57within the sector's middle half▼ 0.044.02above the sector's middle half▲ 1.451.87within the sector's middle half▼ 2.154.12above the sector's middle half▲ 2.253.24above the sector's middle half▼ 0.88
Return on assets (ROA)46.5%-39.3%▼ 7.2pp12.2%within the sector's middle half▼ 27.1pp16.7%above the sector's middle half▲ 4.5pp19.8%above the sector's middle half▲ 3.1pp23.1%above the sector's middle half▲ 3.3pp14.5%above the sector's middle half▼ 8.6pp
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). 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 2024 is 15% lower than in 2023.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €178,335
Fixed assets
€30,567 ▲ 82.9%
Current assets
€147,768 ▲ 24.0%
Equity and liabilities €178,335
Equity
€132,779 ▲ 24.1%
Debt
€45,556 ▲ 57.6%
Debt's share of the balance-sheet total rises from 21.3% to 25.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€44,878▼
2023 · €45,901
Cash flow
€34,078▼
2023 · €34,223
Debt to equity
0.34▲
2023 · 0.27
ROE
19.4%▼
2023 · 29.4%
Interest coverage
over 100
2023 · over 100
Debt ≤ 1 year
€45,556▲
2023 · €28,907
Income taxes
€10,616▼
2023 · €11,447
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|
| Tangible fixed assets | €2,115 | €17 | - | €18,578 | €22,113 |
| Depreciation and write-downs of the year | €415 | €617 | €573 | €2,806 | €8,260 |
Source: notes to the 2020 to 2024 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €415 | €415 | €415 | €617 | €573 | €2,806 | €8,260 | ▲ 194% |
| Other operating charges640/8 | - | - | €3,002 | - | - | €18 | €4,376 | ▲ 247× |
| Non-recurring operating charges66A | - | - | - | - | €180 | - | - | - |
| Gross operating margin9900 | €8,759 | €28,858 | €10,099 | €9,883 | €43,234 | €45,919 | €49,254 | ▲ 7.3% |
| Operating profit (loss)9901 | €7,094 | €25,483 | €6,681 | €9,266 | €42,480 | €43,095 | €36,618 | ▼ 15.0% |
| Financial income75/76B | - | - | - | €2,201 | €8 | €3 | €0 | ▼ 99.6% |
| Recurring financial income75 | €663 | - | - | €2,201 | €8 | €3 | €0 | ▼ 99.6% |
| Financial charges65/66B | - | - | €42 | €161 | €171 | €234 | €184 | ▼ 21.3% |
| Recurring financial charges65 | €43 | €39 | €42 | €161 | €171 | €234 | €184 | ▼ 21.3% |
| Profit (loss) for the period before taxes9903 | €7,715 | €25,444 | €6,639 | €11,306 | €42,317 | €42,864 | €36,434 | ▼ 15.0% |
| Income taxes67/77 | €1,574 | €8,034 | - | €1,708 | €10,450 | €11,447 | €10,616 | ▼ 7.3% |
| Profit (loss) for the period9904 | €6,141 | €17,410 | €6,639 | €9,598 | €31,867 | €31,417 | €25,818 | ▼ 17.8% |
| Profit (loss) for the period to be appropriated9905 | €6,141 | €17,410 | €6,639 | €9,598 | €31,867 | €31,417 | €25,818 | ▼ 17.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €13,206 | €44,271 | €54,431 | €57,620 | €161,029 | €135,867 | €178,335 | ▲ 31.3% |
| Fixed assets21/28 | €830 | €415 | €2,115 | €1,515 | €942 | €16,714 | €30,567 | ▲ 82.9% |
| Tangible fixed assets22/27 | €830 | €415 | €2,115 | €1,515 | €942 | €16,714 | €30,567 | ▲ 82.9% |
| Plant, machinery and equipment23 | - | - | - | - | - | €3,757 | €2,447 | ▼ 34.9% |
| Furniture and vehicles24 | - | - | €2,115 | €1,515 | €942 | €11,341 | €27,121 | ▲ 139% |
| Other tangible fixed assets26 | - | - | - | - | - | €1,616 | €999 | ▼ 38.2% |
| Current assets29/58 | €12,376 | €43,856 | €52,316 | €56,105 | €160,088 | €119,154 | €147,768 | ▲ 24.0% |
| Amounts receivable within one year40/41 | €8,808 | €29,594 | €49,783 | €54,130 | €77,782 | €105,210 | €127,319 | ▲ 21.0% |
| Trade receivables40 | - | - | €8,714 | €19,630 | €8,258 | €33,743 | €18,322 | ▼ 45.7% |
| Other amounts receivable41 | - | - | €41,069 | €34,500 | €69,525 | €71,467 | €108,998 | ▲ 52.5% |
| Cash at bank and in hand54/58 | €3,568 | €14,262 | €2,533 | €1,976 | €82,305 | €13,944 | €20,449 | ▲ 46.7% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €13,206 | €44,271 | €54,431 | €57,620 | €161,029 | €135,867 | €178,335 | ▲ 31.3% |
| Equity10/15 | €10,029 | €27,439 | €34,078 | €43,677 | €75,544 | €106,961 | €132,779 | ▲ 24.1% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Profit (loss) carried forward14 | €3,829 | €21,239 | €27,878 | €37,477 | €69,344 | €100,761 | €126,579 | ▲ 25.6% |
| Amounts payable17/49 | €3,177 | €16,832 | €20,353 | €13,944 | €85,486 | €28,907 | €45,556 | ▲ 57.6% |
| Amounts payable within one year42/48 | €3,177 | €16,832 | €20,353 | €13,944 | €85,486 | €28,907 | €45,556 | ▲ 57.6% |
| Trade debts44 | €1,603 | €2,224 | €5,222 | €5,463 | €54,159 | €1,119 | €18,493 | ▲ 17× |
| Suppliers440/4 | - | - | €5,222 | €5,463 | €54,159 | €1,119 | €18,493 | ▲ 17× |
| Advances received on contracts in progress46 | - | - | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Taxes, remuneration and social security45 | - | - | €10,131 | €3,481 | €26,326 | €22,788 | €22,063 | ▼ 3.2% |
| Taxes450/3 | - | - | €10,131 | €3,481 | €26,326 | €22,788 | €22,063 | ▼ 3.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,141 | €17,410 | €6,639 | €9,598 | €31,867 | €31,417 | €25,818 | ▼ 17.8% |
| + Depreciation and write-downs630 | €415 | €415 | €415 | €617 | €573 | €2,806 | €8,260 | ▲ 194% |
| Operating cash flow (approximation) | €6,556 | €17,825 | €7,054 | €10,215 | €32,440 | €34,223 | €34,078 | ▼ 0.4% |
| Investment in fixed assets (approximation) | - | €0 | -€2,115 | -€17 | €0 | -€18,578 | -€22,113 | ▼ 19.0% |
| Change in cash | - | €10,694 | -€11,729 | -€557 | €80,330 | -€68,362 | €6,505 | - |
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, 34,693 companies had the same profile as PROTECTSYS has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
The bankruptcy probability of PROTECTSYS itself is higher: 2.6% within 12 months. It rests on far more data about PROTECTSYS than the profile alone.
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 34,693 companies, not a prediction for PROTECTSYS. 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.
Filings with the National Bank (8)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | micro format | 28-10-2025 | 2025-00552372 | |
| 31-12-2023 | micro format | 26-09-2024 | 2024-00473095 | |
| 31-12-2022 | micro format | 17-10-2023 | 2023-00490763 | |
| 31-12-2021 | micro format | 31-10-2022 | 2022-20483481 | |
| 31-12-2020 | micro format | 12-04-2022 | 2022-20005745 | |
| 31-12-2019 | micro format | 09-03-2021 | 2021-07300308 | |
| 31-12-2018 | micro format | 29-08-2019 | 2019-56800352 | |
| 31-12-2017 | micro format | 17-08-2018 | 2018-46800227 |