Putain
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 27-07-2026 at the NBB all 2 filings
Every figure per financial year
The operating result for 2025 is a loss of €28,654, smaller than the loss of €53,791 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 2024 | 2025 |
|---|---|---|
| Tangible fixed assets | €22,746 | €1,056 |
| Intangible fixed assets | €26,000 | - |
| Financial fixed assets | €4,461 | €0 |
| Depreciation and write-downs of the year | €13,157 | €7,575 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Remuneration, social security and pensions62 | €190,769 | €116,425 | ▼ 39.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,157 | €7,575 | ▼ 42.4% |
| Other operating charges640/8 | €2,598 | €1,041 | ▼ 59.9% |
| Gross operating margin9900 | €152,733 | €96,387 | ▼ 36.9% |
| Operating profit (loss)9901 | -€53,791 | -€28,654 | ▲ 46.7% |
| Financial income75/76B | €973 | €9 | ▼ 99.0% |
| Recurring financial income75 | €973 | €9 | ▼ 99.0% |
| Financial charges65/66B | -€1,246 | €3,987 | - |
| Recurring financial charges65 | -€1,246 | €3,987 | - |
| Profit (loss) for the period before taxes9903 | -€51,571 | -€32,631 | ▲ 36.7% |
| Profit (loss) for the period9904 | -€51,571 | -€32,631 | ▲ 36.7% |
| Profit (loss) for the period to be appropriated9905 | -€51,571 | -€32,631 | ▲ 36.7% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €101,195 | €134,592 | ▲ 33.0% |
| Fixed assets21/28 | €40,050 | €33,530 | ▼ 16.3% |
| Intangible fixed assets21 | €20,786 | €15,586 | ▼ 25.0% |
| Tangible fixed assets22/27 | €14,803 | €13,484 | ▼ 8.9% |
| Furniture and vehicles24 | €13,512 | €12,389 | ▼ 8.3% |
| Other tangible fixed assets26 | €1,291 | €1,094 | ▼ 15.3% |
| Financial fixed assets28 | €4,461 | €4,461 | = |
| Current assets29/58 | €61,145 | €101,061 | ▲ 65.3% |
| Stocks and contracts in progress3 | €18,327 | €15,843 | ▼ 13.6% |
| Stocks30/36 | €18,327 | €15,843 | ▼ 13.6% |
| Amounts receivable within one year40/41 | €253 | €15,561 | ▲ 61× |
| Trade receivables40 | €253 | €15,561 | ▲ 61× |
| Cash at bank and in hand54/58 | €42,565 | €61,076 | ▲ 43.5% |
| Deferred charges and accrued income490/1 | - | €8,581 | - |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €101,195 | €134,592 | ▲ 33.0% |
| Equity10/15 | -€46,571 | -€79,202 | ▼ 70.1% |
| Contributions10/11 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | -€51,571 | -€84,202 | ▼ 63.3% |
| Amounts payable17/49 | €147,766 | €213,794 | ▲ 44.7% |
| Amounts payable within one year42/48 | €147,766 | €213,794 | ▲ 44.7% |
| Financial debts43 | €4,301 | €3,303 | ▼ 23.2% |
| Credit institutions430/8 | €4,301 | €3,303 | ▼ 23.2% |
| Trade debts44 | €33,383 | €12,654 | ▼ 62.1% |
| Suppliers440/4 | €33,383 | €12,654 | ▼ 62.1% |
| Taxes, remuneration and social security45 | €6,384 | €14,934 | ▲ 134% |
| Taxes450/3 | €6,384 | €3,760 | ▼ 41.1% |
| Remuneration and social security454/9 | - | €11,174 | - |
| Other amounts payable47/48 | €103,699 | €182,902 | ▲ 76.4% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€51,571 | -€32,631 | ▲ 36.7% |
| + Depreciation and write-downs630 | €13,157 | €7,575 | ▼ 42.4% |
| Operating cash flow (approximation) | -€38,414 | -€25,056 | ▲ 34.8% |
| Investment in fixed assets (approximation) | - | -€1,056 | - |
| Change in cash | - | €18,511 | - |
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, 7,639 companies had the same profile as Putain has now. Two years later, 84.8% were still going and 8.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- negative equity
- a loss of 10% of the balance sheet or more
Another 0.7% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Putain itself: 2.5% 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 7,639 companies, not a prediction for Putain. 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.