PTM GROUP
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 31-10-2025 PDF all 16 filings
Turnover
≈ €2.0m
Estimated: probably between €1.4m and €3.3m
Total assets
€20.7m▼ 8.7%
2024 · €22.6m
Net result
€406,893▼ 3.7%
2024 · €422,629
Working capital
€3.2m▼ 18.7%
2024 · €4.0m
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€577,982
▲ 44.9%
2025
20192025
Net result
€406,893
▼ 3.7%
2025
highest quarter of the sector
20192025
Equity
€11.6m
▲ 3.6%
2025
highest quarter of the sector
20192025
Total assets
€20.7m
▼ 8.7%
2025
highest quarter of the sector
20192025
Debt
€9.0m
▼ 20.8%
2025
20192025
Working capital
€3.2m
▼ 18.7%
2025
highest quarter of the sector
20192025
Solvency
56.1%
▲ 6.7pp
2025
middle half of the sector
20192025
Current ratio
2.51
▲ 0.87
2025
middle half of the sector
20192025
Return on assets (ROA)
2.0%
▲ 0.1pp
2025
middle half of the sector
20192025
Staff (FTE)
0
2025
lowest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.2m-€0.2m▲ 21.6%€0.09m▼ 62.0%€0.1m▲ 24.9%€0.2m▲ 44.9%€0.4m▲ 142%€0.6m▲ 44.9%
Net result€2.9m-€2.4mabove the sector's middle half▼ 17.8%€0.05mwithin the sector's middle half▼ 97.9%€0.4mabove the sector's middle half▲ 749%€0.4mabove the sector's middle half▲ 2.5%€0.4mabove the sector's middle half▼ 5.1%€0.4mabove the sector's middle half▼ 3.7%
Equity€6.8m-€9.8mabove the sector's middle half▲ 44.0%€9.9mabove the sector's middle half▲ 0.6%€10.3mabove the sector's middle half▲ 4.4%€10.8mabove the sector's middle half▲ 4.3%€11.2mabove the sector's middle half▲ 3.9%€11.6mabove the sector's middle half▲ 3.6%
Total assets€9.5m-€13.7mabove the sector's middle half▲ 44.4%€13.7mabove the sector's middle half▲ 0.2%€16.9mabove the sector's middle half▲ 23.1%€19.5mabove the sector's middle half▲ 15.5%€22.6mabove the sector's middle half▲ 15.8%€20.7mabove the sector's middle half▼ 8.7%
Debt€2.6m-€3.8m▲ 47.1%€3.8m▼ 0.5%€6.6m▲ 71.9%€8.8m▲ 33.2%€11.4m▲ 30.6%€9.0m▼ 20.8%
Working capital€1.3m-€2.5mabove the sector's middle half▲ 96.6%€2.8mabove the sector's middle half▲ 9.2%€3.7mabove the sector's middle half▲ 33.3%€4.0mabove the sector's middle half▲ 8.1%€4.0mabove the sector's middle half▼ 0.3%€3.2mabove the sector's middle half▼ 18.7%
Solvency71.8%-71.6%above the sector's middle half▼ 0.2pp71.9%above the sector's middle half▲ 0.3pp61.0%within the sector's middle half▼ 10.9pp55.1%within the sector's middle half▼ 5.9pp49.4%within the sector's middle half▼ 5.7pp56.1%within the sector's middle half▲ 6.7pp
Current ratio2.08-1.91within the sector's middle half▼ 0.172.71within the sector's middle half▲ 0.813.16within the sector's middle half▲ 0.442.31within the sector's middle half▼ 0.851.65within the sector's middle half▼ 0.662.51within the sector's middle half▲ 0.87
Return on assets (ROA)30.7%-17.5%above the sector's middle half▼ 13.2pp0.4%below the sector's middle half▼ 17.1pp2.6%within the sector's middle half▲ 2.2pp2.3%within the sector's middle half▼ 0.3pp1.9%within the sector's middle half▼ 0.4pp2.0%within the sector's middle half▲ 0.1pp
Staff (FTE)0below the sector's middle half0below the sector's middle half0below the sector's middle half
above
within
below
The sector band is the middle half of the companies in Architectural and engineering activities; technical testing and analysis (NACE 71). 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 45% higher than in 2024 and the highest since 2021. It is the fourth rise in a row.
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 €20.7m
Fixed assets
€15.3m ▲ 22.1%
Current assets
€5.3m ▼ 47.0%
Equity and liabilities €20.7m
Equity
€11.6m ▲ 3.6%
Provisions
€16,996 ▼ 22.1%
Debt
€9.0m ▼ 20.8%
Debt's share of the balance-sheet total falls from 50.5% to 43.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.1m▲
2024 · €816,343
Cash flow
€947,264▲
2024 · €840,003
Debt to equity
0.78▼
2024 · 1.02
ROE
3.5%▼
2024 · 3.8%
Interest coverage
2.87▼
2024 · 3.58
Debt ≤ 1 year
€2.1m▼
2024 · €6.1m
Debt > 1 year
€6.9m▲
2024 · €5.3m
Income taxes
€111,880▲
2024 · €81,852
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 |
|---|---|---|---|---|
| Debts secured on the company's own assets | €5.3m | - | €9.5m | €406,766 |
| Mortgages, amount registered | €1.8m | €1.8m | €200,000 | €200,000 |
| Carrying value of the mortgaged assets | €6.8m | €7.8m | €7.8m | €9.0m |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €3.0m | €1.4m | €389,496 | €3.3m |
| Financial fixed assets | €600 | - | €41,500 | - |
| Depreciation and write-downs of the year | €374,405 | €439,536 | €417,374 | €540,371 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | €47 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.2m | €0.2m | €0.3m | €0.4m | €0.4m | €0.4m | €0.5m | ▲ 29.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.02m | €0 | - | €0.002m | - |
| Other operating charges640/8 | - | - | - | €0.04m | €0.05m | €0.05m | €0.05m | ▼ 0.8% |
| Non-recurring operating charges66A | - | - | - | €0 | €0.01m | €0.004m | €0.001m | ▼ 74.1% |
| Gross operating margin9900 | €0.5m | €0.4m | €0.4m | €0.5m | €0.7m | €0.9m | €1.2m | ▲ 34.3% |
| Operating profit (loss)9901 | €0.2m | €0.2m | €0.09m | €0.1m | €0.2m | €0.4m | €0.6m | ▲ 44.9% |
| Financial income75/76B | - | - | - | €0.4m | €0.4m | €0.3m | €0.3m | ▼ 0.8% |
| Recurring financial income75 | €2.8m | €4.1m | €0.2m | €0.4m | €0.4m | €0.3m | €0.3m | ▼ 0.7% |
| Non-recurring financial income76B | - | - | - | €166 | €0.009m | €381 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €0.1m | €0.1m | €0.2m | €0.4m | ▲ 71.2% |
| Recurring financial charges65 | €0.08m | €0.09m | €0.09m | €0.1m | €0.1m | €0.2m | €0.4m | ▲ 71.2% |
| Non-recurring financial charges66B | - | - | - | €8 | €0 | - | - | - |
| Profit (loss) for the period before taxes9903 | €3.0m | €2.5m | €0.05m | €0.4m | €0.5m | €0.5m | €0.5m | ▲ 2.9% |
| Transfer from deferred taxes780 | - | - | - | €0.005m | €0.005m | €0.005m | €0.005m | = |
| Income taxes67/77 | €0.06m | €0.07m | €0.006m | €0.01m | €0.03m | €0.08m | €0.1m | ▲ 36.7% |
| Profit (loss) for the period9904 | €2.9m | €2.4m | €0.05m | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 3.7% |
| Transfer from tax-exempt reserves789 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Profit (loss) for the period to be appropriated9905 | €2.9m | €2.4m | €0.07m | €0.4m | €0.5m | €0.4m | €0.4m | ▼ 3.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €9.5m | €13.7m | €13.7m | €16.9m | €19.5m | €22.6m | €20.7m | ▼ 8.7% |
| Fixed assets21/28 | €7.0m | €8.4m | €9.4m | €11.5m | €12.5m | €12.5m | €15.3m | ▲ 22.1% |
| Tangible fixed assets22/27 | €2.7m | €3.6m | €4.8m | €7.0m | €8.0m | €8.0m | €10.7m | ▲ 34.7% |
| Land and buildings22 | - | - | - | €6.7m | €7.7m | €7.7m | €8.9m | ▲ 15.7% |
| Furniture and vehicles24 | - | - | - | €0.004m | €0.001m | €0.01m | €0.008m | ▼ 21.6% |
| Other tangible fixed assets26 | - | - | - | €0.3m | €0.2m | €0.2m | €1.8m | ▲ 679% |
| Financial fixed assets28 | €4.3m | €4.8m | €4.5m | €4.5m | €4.5m | €4.6m | €4.6m | = |
| Current assets29/58 | €2.5m | €5.3m | €4.4m | €5.4m | €7.0m | €10.1m | €5.3m | ▼ 47.0% |
| Amounts receivable after more than one year29 | - | - | - | €0.3m | €0.2m | €0.6m | €2.7m | ▲ 386% |
| Other amounts receivable291 | - | - | - | €0.3m | €0.2m | €0.6m | €2.7m | ▲ 386% |
| Stocks and contracts in progress3 | - | - | - | €2.6m | €3.8m | €7.4m | €0 | ▼ 100% |
| Stocks30/36 | - | - | - | - | €1.1m | €4.8m | €0 | ▼ 100% |
| Contracts in progress37 | - | - | - | €2.6m | €2.6m | €2.6m | - | - |
| Amounts receivable within one year40/41 | €0.4m | €0.2m | €0.06m | €0.3m | €0.3m | €0.3m | €0.7m | ▲ 108% |
| Trade receivables40 | - | - | - | €0.09m | €0.04m | €0.3m | €0.6m | ▲ 119% |
| Other amounts receivable41 | - | - | - | €0.2m | €0.2m | €0.07m | €0.1m | ▲ 66.9% |
| Current investments50/53 | €0.03m | €0.001m | €1.0m | €1.4m | €1.4m | €1.5m | €0.3m | ▼ 77.5% |
| Cash at bank and in hand54/58 | €2.1m | €5.1m | €3.3m | €0.8m | €1.3m | €0.2m | €1.5m | ▲ 759% |
| Deferred charges and accrued income490/1 | - | - | - | €0.03m | €0.04m | €0.2m | €0.1m | ▼ 27.7% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €9.5m | €13.7m | €13.7m | €16.9m | €19.5m | €22.6m | €20.7m | ▼ 8.7% |
| Equity10/15 | €6.8m | €9.8m | €9.9m | €10.3m | €10.8m | €11.2m | €11.6m | ▲ 3.6% |
| Contributions10/11 | €2.1m | - | - | €2.7m | €2.7m | €2.7m | €2.7m | = |
| Reserves13 | €1.0m | €1.0m | €1.0m | €1.0m | €0.9m | €0.9m | €0.9m | ▼ 1.6% |
| Non-distributable reserves130/1 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Reserves not available under the articles1311 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Tax-exempt reserves132 | - | - | - | €0.09m | €0.08m | €0.07m | €0.05m | ▼ 22.1% |
| Distributable reserves133 | - | - | - | €0.7m | €0.7m | €0.7m | €0.7m | = |
| Profit (loss) carried forward14 | €3.7m | €6.2m | €6.2m | €6.7m | €7.1m | €7.6m | €8.0m | ▲ 5.6% |
| Provisions and deferred taxes16 | €0.06m | €0.05m | €0.04m | €0.03m | €0.03m | €0.02m | €0.02m | ▼ 22.1% |
| Deferred taxes168 | - | - | - | €0.03m | €0.03m | €0.02m | €0.02m | ▼ 22.1% |
| Amounts payable17/49 | €2.6m | €3.8m | €3.8m | €6.6m | €8.8m | €11.4m | €9.0m | ▼ 20.8% |
| Amounts payable after more than one year17 | €1.4m | €1.1m | €2.2m | €4.9m | €5.7m | €5.3m | €6.9m | ▲ 30.1% |
| Financial debts170/4 | - | - | - | €4.9m | €5.7m | €5.3m | €6.9m | ▲ 30.1% |
| Amounts payable within one year42/48 | €1.2m | €2.8m | €1.6m | €1.7m | €3.0m | €6.1m | €2.1m | ▼ 65.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.4m | €0.4m | €0.4m | €0.5m | ▲ 23.3% |
| Financial debts43 | - | - | - | - | €0.7m | €3.4m | €0 | ▼ 100% |
| Other loans439 | - | - | - | - | €0.7m | €3.4m | €0 | ▼ 100% |
| Trade debts44 | €0.08m | €1.0m | €0.1m | €0.08m | €0.1m | €0.4m | €0.06m | ▼ 83.9% |
| Suppliers440/4 | - | - | - | €0.08m | €0.1m | €0.4m | €0.06m | ▼ 83.9% |
| Advances received on contracts in progress46 | - | - | - | - | - | €0.4m | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.03m | €0.03m | €0.09m | ▲ 208% |
| Taxes450/3 | - | - | - | €0.02m | €0.03m | €0.03m | €0.09m | ▲ 209% |
| Remuneration and social security454/9 | - | - | - | €0.002m | €0.001m | €0.001m | €0.002m | ▲ 165% |
| Other amounts payable47/48 | - | - | - | €1.2m | €1.7m | €1.5m | €1.4m | ▼ 5.8% |
| Accrued charges and deferred income492/3 | - | - | - | €0.003m | €0.007m | €0.02m | €0.06m | ▲ 170% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2.9m | €2.4m | €0.05m | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 3.7% |
| + Depreciation and write-downs630 | €0.2m | €0.2m | €0.3m | €0.4m | €0.4m | €0.4m | €0.5m | ▲ 29.5% |
| Operating cash flow (approximation) | €3.1m | €2.6m | €0.3m | €0.8m | €0.9m | €0.8m | €0.9m | ▲ 12.8% |
| Investment in fixed assets (approximation) | - | -€1.6m | -€1.2m | -€2.5m | -€1.4m | -€0.4m | -€3.3m | ▼ 667% |
| Change in cash | - | €3.0m | -€1.8m | -€2.5m | €0.5m | -€1.1m | €1.3m | - |
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, 544 companies had the same profile as PTM GROUP has now. Two years later, 93.6% were still going and 0.2% had gone bankrupt.
- Medium-sized
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
93.6%
was still going
5.9%
stopped otherwise
0.2%
went bankrupt
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of PTM GROUP 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 544 companies, not a prediction for PTM GROUP. 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 16 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2025 | abbreviated format | 31-10-2025 | 2025-00556036 | |
| 31-03-2024 | abbreviated format | 31-10-2024 | 2024-00522981 | |
| 31-03-2023 | abbreviated format | 31-10-2023 | 2023-00499903 | |
| 31-03-2022 | abbreviated format | 03-11-2022 | 2022-20482806 | |
| 31-03-2021 | abbreviated format | 04-11-2021 | 2021-76100147 | |
| 31-03-2020 | abbreviated format | 30-11-2020 | 2020-72600316 | |
| 31-03-2019 | abbreviated format | 30-10-2019 | 2019-71900019 | |
| 31-03-2018 | abbreviated format | 31-10-2018 | 2018-70800152 | |
| 31-03-2017 | abbreviated format | 02-11-2017 | 2017-68500338 | |
| 31-03-2016 | abbreviated format | 30-09-2016 | 2016-63400352 |