QS Supplements
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-06-2026 at the NBB all 3 filings
Every figure per financial year
The operating result for 2025 is a loss of €64,605, larger than the loss of €44,702 in 2024. It is the lowest result since 2023.
Turnover and EBIT margin are not published. The micro format does not require them.
Staff
| Item | 31-12-2025 |
|---|---|
| Employees at the balance-sheet date | 1 |
| full-time | 0 |
| part-time | 1 |
| in full-time equivalents | 0.5 |
| Average over the year, in full-time equivalents | 0.4 |
| On a permanent contract | 1 |
| Joined | 1 |
| Left | 0 |
Source: social balance sheet in the 2025 annual accounts
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Intangible fixed assets | €13,040 | €11,700 | - |
| Depreciation and write-downs of the year | €765 | €4,553 | €4,948 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €18,971 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €765 | €4,553 | €4,948 | ▲ 8.7% |
| Other operating charges640/8 | €404 | €399 | €1,000 | ▲ 150% |
| Gross operating margin9900 | -€13,824 | -€39,749 | -€39,686 | ▲ 0.2% |
| Operating profit (loss)9901 | -€14,993 | -€44,702 | -€64,605 | ▼ 44.5% |
| Financial income75/76B | €5 | €37 | €20 | ▼ 46.8% |
| Recurring financial income75 | €5 | €37 | €20 | ▼ 46.8% |
| Financial charges65/66B | €189 | €2,803 | €4,826 | ▲ 72.2% |
| Recurring financial charges65 | €189 | €2,803 | €4,826 | ▲ 72.2% |
| Profit (loss) for the period before taxes9903 | -€15,177 | -€47,468 | -€69,411 | ▼ 46.2% |
| Profit (loss) for the period9904 | -€15,177 | -€47,468 | -€69,411 | ▼ 46.2% |
| Profit (loss) for the period to be appropriated9905 | -€15,177 | -€47,468 | -€69,411 | ▼ 46.2% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €62,742 | €106,237 | €91,588 | ▼ 13.8% |
| Fixed assets21/28 | €12,275 | €19,422 | €14,474 | ▼ 25.5% |
| Intangible fixed assets21 | €12,275 | €19,422 | €14,474 | ▼ 25.5% |
| Current assets29/58 | €50,466 | €86,815 | €77,114 | ▼ 11.2% |
| Stocks and contracts in progress3 | €34,240 | €46,569 | €48,994 | ▲ 5.2% |
| Stocks30/36 | €34,240 | €46,569 | €48,994 | ▲ 5.2% |
| Amounts receivable within one year40/41 | €3,092 | €17,233 | €15,444 | ▼ 10.4% |
| Trade receivables40 | €659 | €14,001 | €12,284 | ▼ 12.3% |
| Other amounts receivable41 | €2,433 | €3,232 | €3,159 | ▼ 2.2% |
| Cash at bank and in hand54/58 | €13,134 | €22,865 | €12,195 | ▼ 46.7% |
| Deferred charges and accrued income490/1 | - | €147 | €482 | ▲ 228% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €62,742 | €106,237 | €91,588 | ▼ 13.8% |
| Equity10/15 | €24,823 | -€22,645 | -€92,056 | ▼ 307% |
| Contributions10/11 | €40,000 | €40,000 | €40,000 | = |
| Profit (loss) carried forward14 | -€15,177 | -€62,645 | -€132,056 | ▼ 111% |
| Amounts payable17/49 | €37,919 | €128,881 | €183,644 | ▲ 42.5% |
| Amounts payable after more than one year17 | €26,000 | €108,717 | €122,928 | ▲ 13.1% |
| Financial debts170/4 | - | €108,717 | €122,928 | ▲ 13.1% |
| Other amounts payable178/9 | €26,000 | €0 | - | - |
| Amounts payable within one year42/48 | €11,871 | €18,287 | €56,222 | ▲ 207% |
| Current portion of amounts payable after more than one year42 | - | €5,508 | €5,789 | ▲ 5.1% |
| Financial debts43 | €188 | €1,831 | €1,393 | ▼ 24.0% |
| Credit institutions430/8 | €188 | €1,831 | €1,393 | ▼ 24.0% |
| Trade debts44 | €11,683 | €10,459 | €38,058 | ▲ 264% |
| Suppliers440/4 | €11,683 | €10,459 | €38,058 | ▲ 264% |
| Taxes, remuneration and social security45 | - | €301 | €2,205 | ▲ 632% |
| Taxes450/3 | - | €301 | €0 | ▼ 100% |
| Remuneration and social security454/9 | - | - | €2,205 | - |
| Other amounts payable47/48 | - | €188 | €8,777 | ▲ 47× |
| Accrued charges and deferred income492/3 | €48 | €1,878 | €4,495 | ▲ 139% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€15,177 | -€47,468 | -€69,411 | ▼ 46.2% |
| + Depreciation and write-downs630 | €765 | €4,553 | €4,948 | ▲ 8.7% |
| Operating cash flow (approximation) | -€14,413 | -€42,914 | -€64,463 | ▼ 50.2% |
| Investment in fixed assets (approximation) | - | -€11,700 | €0 | - |
| Change in cash | - | €9,731 | -€10,671 | - |
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 QS Supplements has now. Two years later, 84.9% 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 QS Supplements itself: 4.2% 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 7,639 companies, not a prediction for QS Supplements. 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.