PS CLEAN
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 01-06-2026 PDF all 13 filings
Turnover
≈ €200,000
Estimated: probably between €140,000 and €340,000
EBIT margin
Not included in this filing
Net result
€20,302▼ 21.7%
2024 · €25,937
Working capital
€65,533▲ 11.0%
2024 · €59,054
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€32,654
▼ 22.3%
2025
20182025
Net result
€20,302
▼ 21.7%
2025
middle half of the sector
20182025
Equity
€66,222
▲ 10.0%
2025
middle half of the sector
20182025
Total assets
€123,062
▲ 4.0%
2025
middle half of the sector
20182025
Debt
€56,840
▼ 2.1%
2025
20182025
Working capital
€65,533
▲ 11.0%
2025
middle half of the sector
20182025
Solvency
53.8%
▲ 2.9pp
2025
middle half of the sector
20182025
Current ratio
2.15
▲ 0.14
2025
middle half of the sector
20182025
Return on assets (ROA)
16.5%
▼ 5.4pp
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-€9,364-€8,410€4,512▼ 46.3%€26,455▲ 486%€29,363▲ 11.0%€23,117▼ 21.3%€42,015▲ 81.7%€32,654▼ 22.3%
Net result-€10,661-€6,478€1,523within the sector's middle half▼ 76.5%€17,109within the sector's middle half▲ 11×€20,157within the sector's middle half▲ 17.8%€13,237within the sector's middle half▼ 34.3%€25,937within the sector's middle half▲ 95.9%€20,302within the sector's middle half▼ 21.7%
Equity€18,623-€25,101▲ 34.8%€26,624below the sector's middle half▲ 6.1%€43,733within the sector's middle half▲ 64.3%€49,604within the sector's middle half▲ 13.4%€48,555within the sector's middle half▼ 2.1%€60,206within the sector's middle half▲ 24.0%€66,222within the sector's middle half▲ 10.0%
Total assets€52,550-€59,585▲ 13.4%€52,461below the sector's middle half▼ 12.0%€76,138within the sector's middle half▲ 45.1%€122,569within the sector's middle half▲ 61.0%€126,524within the sector's middle half▲ 3.2%€118,288within the sector's middle half▼ 6.5%€123,062within the sector's middle half▲ 4.0%
Debt€33,927-€34,484▲ 1.6%€25,837▼ 25.1%€32,405▲ 25.4%€72,965▲ 125%€77,969▲ 6.9%€58,082▼ 25.5%€56,840▼ 2.1%
Working capital€28,223-€25,101▼ 11.1%€27,824within the sector's middle half▲ 10.8%€40,652within the sector's middle half▲ 46.1%€40,810within the sector's middle half▲ 0.4%€43,813within the sector's middle half▲ 7.4%€59,054within the sector's middle half▲ 34.8%€65,533within the sector's middle half▲ 11.0%
Solvency35.4%-42.1%▲ 6.7pp50.8%within the sector's middle half▲ 8.6pp57.4%within the sector's middle half▲ 6.7pp40.5%within the sector's middle half▼ 17.0pp38.4%within the sector's middle half▼ 2.1pp50.9%within the sector's middle half▲ 12.5pp53.8%within the sector's middle half▲ 2.9pp
Current ratio2.16-1.73▼ 0.432.13within the sector's middle half▲ 0.402.25within the sector's middle half▲ 0.131.56within the sector's middle half▼ 0.701.56within the sector's middle half=2.02within the sector's middle half▲ 0.452.15within the sector's middle half▲ 0.14
Return on assets (ROA)-20.3%-10.9%▲ 31.2pp2.9%within the sector's middle half▼ 8.0pp22.5%above the sector's middle half▲ 19.6pp16.4%within the sector's middle half▼ 6.0pp10.5%within the sector's middle half▼ 6.0pp21.9%above the sector's middle half▲ 11.5pp16.5%within the sector's middle half▼ 5.4pp
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 22% lower than in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €123,062
Fixed assets
€689 ▼ 40.2%
Current assets
€122,373 ▲ 4.5%
Equity and liabilities €123,062
Equity
€66,222 ▲ 10.0%
Debt
€56,840 ▼ 2.1%
Debt's share of the balance-sheet total falls from 49.1% to 46.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€33,117▼
2024 · €42,478
Cash flow
€20,765▼
2024 · €26,400
Debt to equity
0.86▼
2024 · 0.96
ROE
30.7%▼
2024 · 43.1%
Interest coverage
9.74▲
2024 · 8.27
Debt ≤ 1 year
€56,840▼
2024 · €58,082
Income taxes
€8,953▼
2024 · €11,315
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €3,843 | €9,492 | - | - | - |
| Financial fixed assets | €165 | - | - | - | - |
| Depreciation and write-downs of the year | €927 | €3,779 | €4,052 | €463 | €463 |
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 | - | - | - | €927 | €3,779 | €4,052 | €463 | €463 | = |
| Other operating charges640/8 | - | - | - | €3,359 | €375 | €4,269 | €500 | €507 | ▲ 1.4% |
| Gross operating margin9900 | €12,895 | €10,970 | €8,272 | €30,741 | €33,517 | €31,438 | €42,978 | €33,624 | ▼ 21.8% |
| Operating profit (loss)9901 | -€9,364 | €8,410 | €4,512 | €26,455 | €29,363 | €23,117 | €42,015 | €32,654 | ▼ 22.3% |
| Financial income75/76B | - | - | - | €3 | €3 | €57 | €374 | - | - |
| Recurring financial income75 | €1 | - | €4 | €3 | €3 | €57 | €374 | - | - |
| Financial charges65/66B | - | - | - | €667 | €423 | €2,456 | €5,137 | €3,399 | ▼ 33.8% |
| Recurring financial charges65 | €1,106 | €1,191 | €941 | €667 | €423 | €2,456 | €5,137 | €3,399 | ▼ 33.8% |
| Profit (loss) for the period before taxes9903 | -€10,469 | €7,219 | €3,575 | €25,791 | €28,943 | €20,718 | €37,252 | €29,255 | ▼ 21.5% |
| Income taxes67/77 | €192 | €741 | €2,052 | €8,682 | €8,786 | €7,481 | €11,315 | €8,953 | ▼ 20.9% |
| Profit (loss) for the period9904 | -€10,661 | €6,478 | €1,523 | €17,109 | €20,157 | €13,237 | €25,937 | €20,302 | ▼ 21.7% |
| Profit (loss) for the period to be appropriated9905 | -€10,661 | €6,478 | €1,523 | €17,109 | €20,157 | €13,237 | €25,937 | €20,302 | ▼ 21.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €52,550 | €59,585 | €52,461 | €76,138 | €122,569 | €126,524 | €118,288 | €123,062 | ▲ 4.0% |
| Fixed assets21/28 | - | - | - | €3,081 | €8,794 | €4,742 | €1,152 | €689 | ▼ 40.2% |
| Tangible fixed assets22/27 | - | - | - | €2,916 | €8,629 | €4,577 | €987 | €524 | ▼ 46.9% |
| Plant, machinery and equipment23 | - | - | - | - | €1,912 | €1,450 | €987 | €524 | ▼ 46.9% |
| Furniture and vehicles24 | - | - | - | €2,916 | €6,717 | €3,127 | - | - | - |
| Financial fixed assets28 | - | - | - | €165 | €165 | €165 | €165 | €165 | = |
| Current assets29/58 | €52,550 | €59,585 | €52,461 | €73,057 | €113,775 | €121,782 | €117,136 | €122,373 | ▲ 4.5% |
| Amounts receivable within one year40/41 | €46,436 | €51,442 | €51,790 | €72,393 | €112,659 | €115,332 | €117,136 | €122,373 | ▲ 4.5% |
| Trade receivables40 | - | - | - | €29,588 | €54,711 | €50,123 | €53,068 | €52,486 | ▼ 1.1% |
| Other amounts receivable41 | - | - | - | €42,805 | €57,948 | €65,209 | €64,068 | €69,887 | ▲ 9.1% |
| Cash at bank and in hand54/58 | €3,268 | €1,866 | - | - | €1,116 | €5,133 | - | - | - |
| Deferred charges and accrued income490/1 | - | - | - | €664 | - | €1,317 | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €52,550 | €59,585 | €52,461 | €76,138 | €122,569 | €126,524 | €118,288 | €123,062 | ▲ 4.0% |
| Equity10/15 | €18,623 | €25,101 | €26,624 | €43,733 | €49,604 | €48,555 | €60,206 | €66,222 | ▲ 10.0% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €1,065 | €1,388 | €1,388 | €1,388 | €1,388 | €1,388 | €1,388 | €1,388 | = |
| Non-distributable reserves130/1 | - | - | - | €1,388 | €1,388 | - | - | - | - |
| Other1319 | - | - | - | €1,388 | €1,388 | - | - | - | - |
| Distributable reserves133 | - | - | - | - | - | €1,388 | €1,388 | €1,388 | = |
| Profit (loss) carried forward14 | €11,358 | €17,513 | €19,036 | €36,145 | €42,016 | €40,967 | €52,618 | €58,634 | ▲ 11.4% |
| Amounts payable17/49 | €33,927 | €34,484 | €25,837 | €32,405 | €72,965 | €77,969 | €58,082 | €56,840 | ▼ 2.1% |
| Amounts payable within one year42/48 | €24,327 | €34,484 | €24,637 | €32,405 | €72,965 | €77,969 | €58,082 | €56,840 | ▼ 2.1% |
| Financial debts43 | - | - | - | €440 | - | - | €2,680 | €1,294 | ▼ 51.7% |
| Credit institutions430/8 | - | - | - | €440 | - | - | €2,680 | €1,294 | ▼ 51.7% |
| Trade debts44 | €7,820 | €7,343 | €6,045 | €2,829 | €17,828 | €19,008 | €8,241 | €5,484 | ▼ 33.5% |
| Suppliers440/4 | - | - | - | €2,829 | €17,828 | €19,008 | €8,241 | €5,484 | ▼ 33.5% |
| Taxes, remuneration and social security45 | - | - | - | €29,136 | €45,137 | €48,961 | €37,161 | €40,062 | ▲ 7.8% |
| Taxes450/3 | - | - | - | €29,136 | €45,137 | €48,961 | €37,161 | €40,062 | ▲ 7.8% |
| Other amounts payable47/48 | - | - | - | - | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€10,661 | €6,478 | €1,523 | €17,109 | €20,157 | €13,237 | €25,937 | €20,302 | ▼ 21.7% |
| + Depreciation and write-downs630 | - | - | - | €927 | €3,779 | €4,052 | €463 | €463 | = |
| Operating cash flow (approximation) | -€10,661 | €6,478 | €1,523 | €18,036 | €23,936 | €17,289 | €26,400 | €20,765 | ▼ 21.3% |
| Investment in fixed assets (approximation) | - | - | - | - | -€9,492 | €0 | €3,127 | €0 | ▼ 100% |
| Change in cash | - | -€1,402 | - | - | - | €4,017 | - | - | - |
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 PS CLEAN 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
That fits the bankruptcy probability of PS CLEAN itself: 0.7% 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 34,693 companies, not a prediction for PS CLEAN. 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 13 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 01-06-2026 | 2026-00129484 | |
| 31-12-2024 | micro format | 23-06-2025 | 2025-00164542 | |
| 31-12-2023 | micro format | 11-06-2024 | 2024-00121463 | |
| 31-12-2022 | micro format | 20-06-2023 | 2023-00139445 | |
| 31-12-2021 | micro format | 21-06-2022 | 2022-20083319 | |
| 31-12-2020 | full format | 28-05-2021 | 2021-16600123 | |
| 31-12-2019 | full format | 25-06-2020 | 2020-21300293 | |
| 31-12-2018 | full format | 19-07-2019 | 2019-34700568 | |
| 31-12-2017 | full format | 11-07-2018 | 2018-33400262 | |
| 31-12-2016 | full format | 12-06-2017 | 2017-17600411 |