QUALITY CONTROL
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 15-07-2026 at the NBB all 28 filings
Turnover
≈ €1.1m
Estimated: probably between €770,000 and €1.7m
EBIT margin
Not included in this filing
Net result
€176,453▲ 35.7%
2024 · €130,007
Working capital
€152,003▼ 2.3%
2024 · €155,531
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€254,879
▲ 37.3%
2025
20182025
Net result
€176,453
▲ 35.7%
2025
highest quarter of the sector
20182025
Equity
€155,020
=
2025
middle half of the sector
20182025
Total assets
€1.3m
▲ 40.8%
2025
middle half of the sector
20182025
Debt
€1.1m
▲ 49.2%
2025
20182025
Working capital
€152,003
▼ 2.3%
2025
middle half of the sector
20182025
Solvency
12.1%
▼ 4.9pp
2025
lowest quarter of the sector
20182025
Current ratio
1.13
▼ 0.07
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
13.8%
▼ 0.5pp
2025
highest quarter of the sector
20182025
Staff (FTE)
6
▲ 11.1%
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€0.05m-€0.07m▲ 39.3%€0.05m▼ 31.6%€0.1m▲ 161%€0.4m▲ 187%€0.1m▼ 64.6%€0.2m▲ 37.2%€0.3m▲ 37.3%
Net result€0.04m-€0.05m▲ 41.1%€0.04mwithin the sector's middle half▼ 25.3%€0.1mwithin the sector's middle half▲ 160%€0.3mabove the sector's middle half▲ 182%€0.09mwithin the sector's middle half▼ 67.2%€0.1mwithin the sector's middle half▲ 41.6%€0.2mabove the sector's middle half▲ 35.7%
Equity€0.008m-€0.06m▲ 635%€0.2mbelow the sector's middle half▲ 158%€0.2mbelow the sector's middle half▲ 1.5%€0.2mbelow the sector's middle half=€0.2mbelow the sector's middle half=€0.2mbelow the sector's middle half=€0.2mwithin the sector's middle half=
Total assets€0.2m-€0.2m▼ 13.2%€0.3mbelow the sector's middle half▲ 40.1%€0.5mbelow the sector's middle half▲ 84.0%€0.7mbelow the sector's middle half▲ 25.2%€0.6mbelow the sector's middle half▼ 2.0%€0.9mwithin the sector's middle half▲ 40.3%€1.3mwithin the sector's middle half▲ 40.8%
Debt€0.2m-€0.1m▼ 36.0%€0.1m▼ 7.6%€0.4m▲ 177%€0.5m▲ 35.6%€0.5m▼ 2.6%€0.8m▲ 52.9%€1.1m▲ 49.2%
Working capital€0.008m-€0.06m▲ 649%€0.2mwithin the sector's middle half▲ 158%€0.2mwithin the sector's middle half▲ 1.5%€0.2mwithin the sector's middle half=€0.2mwithin the sector's middle half▲ 1.3%€0.2mwithin the sector's middle half▼ 1.0%€0.2mwithin the sector's middle half▼ 2.3%
Solvency3.4%-28.8%▲ 25.4pp53.1%within the sector's middle half▲ 24.2pp29.3%below the sector's middle half▼ 23.8pp23.4%below the sector's middle half▼ 5.9pp23.9%below the sector's middle half▲ 0.5pp17.0%below the sector's middle half▼ 6.9pp12.1%below the sector's middle half▼ 4.9pp
Current ratio1.03-1.40▲ 0.372.13within the sector's middle half▲ 0.731.41below the sector's middle half▼ 0.721.31below the sector's middle half▼ 0.111.32below the sector's middle half▲ 0.011.21below the sector's middle half▼ 0.111.13below the sector's middle half▼ 0.07
Return on assets (ROA)15.3%-24.9%▲ 9.6pp13.3%above the sector's middle half▼ 11.6pp18.7%above the sector's middle half▲ 5.5pp42.3%above the sector's middle half▲ 23.5pp14.1%above the sector's middle half▼ 28.1pp14.3%above the sector's middle half▲ 0.1pp13.8%above the sector's middle half▼ 0.5pp
Staff (FTE)2.5below the sector's middle half5.4within the sector's middle half▲ 116%6within the sector's middle half▲ 11.1%
above
within
below
The sector band is the middle half of the companies in Education (NACE 85). 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 37% higher than in 2024. It is the second rise in a row, after the fall in 2023.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.3m
Fixed assets
€3,017
Current assets
€1.3m
Equity and liabilities €1.3m
Equity
€155,020 =
Debt
€1.1m ▲ 49.2%
Debt's share of the balance-sheet total rises from 83.0% to 87.9%. Debt is higher.
Key figures and ratios
EBITDA
€255,362
Cash flow
€176,936
Debt to equity
7.27▲
2024 · 4.87
ROE
113.8%▲
2024 · 83.9%
Interest coverage
28.43
Debt ≤ 1 year
€1.1m▲
2024 · €754,992
Debt > 1 year
€0▼
2024 · €511
Income taxes
€69,446▲
2024 · €51,067
Staff costs
€453,905▲
2024 · €363,668
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|
| Employees at the balance-sheet date | 5 | 6 | 7 |
| full-time | 4 | 4 | 3 |
| part-time | 1 | 2 | 4 |
| in full-time equivalents | 4.6 | 5.5 | 6.4 |
| Average over the year, in full-time equivalents | 2.5 | 5.4 | 6 |
| On a permanent contract | 5 | 6 | 7 |
| Joined | 6 | 2 | 1 |
| Left | 1 | 1 | 0 |
| Training hours | 40 | 146 | 304 |
Source: social balance sheet in the 2023 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | - | - | €3,500 |
| Depreciation and write-downs of the year | - | - | - | - | €483 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2024 · 1 entry · €1,448 awarded · €1,448 paidSchemes
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €11 | €0 | - | - |
| Remuneration, social security and pensions62 | - | - | - | - | - | €205,262 | €363,668 | €453,905 | ▲ 24.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €297 | €0 | - | - | - | - | - | €483 | - |
| Other operating charges640/8 | - | - | - | €459 | €460 | €499 | €708 | €195 | ▼ 72.5% |
| Non-recurring operating charges66A | - | - | - | - | - | €1,620 | €0 | - | - |
| Gross operating margin9900 | €49,369 | €75,281 | €51,569 | €133,622 | €382,888 | €342,702 | €550,075 | €709,462 | ▲ 29.0% |
| Operating profit (loss)9901 | €53,620 | €74,675 | €51,113 | €133,164 | €382,428 | €135,321 | €185,699 | €254,879 | ▲ 37.3% |
| Financial income75/76B | - | - | - | - | - | - | €0 | €1 | ▲ 279% |
| Recurring financial income75 | - | - | - | - | - | - | €0 | €1 | ▲ 279% |
| Financial charges65/66B | - | - | - | €1,094 | €4,199 | €8,465 | €4,624 | €8,981 | ▲ 94.2% |
| Recurring financial charges65 | €687 | €1,539 | €814 | €1,094 | €4,199 | €8,465 | €4,624 | €8,981 | ▲ 94.2% |
| Profit (loss) for the period before taxes9903 | €52,933 | €73,136 | €50,299 | €132,069 | €378,229 | €126,856 | €181,075 | €245,898 | ▲ 35.8% |
| Income taxes67/77 | €16,687 | €22,000 | €12,115 | €32,924 | €98,146 | €35,015 | €51,067 | €69,446 | ▲ 36.0% |
| Profit (loss) for the period9904 | €36,246 | €51,136 | €38,184 | €99,146 | €280,083 | €91,841 | €130,007 | €176,453 | ▲ 35.7% |
| Profit (loss) for the period to be appropriated9905 | €36,246 | €51,136 | €38,184 | €99,146 | €280,083 | €91,841 | €130,007 | €176,453 | ▲ 35.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.2m | €0.2m | €0.3m | €0.5m | €0.7m | €0.6m | €0.9m | €1.3m | ▲ 40.8% |
| Fixed assets21/28 | €152 | €0 | - | - | - | - | - | €0.003m | - |
| Tangible fixed assets22/27 | €152 | €0 | - | - | - | - | - | €0.003m | - |
| Furniture and vehicles24 | - | - | - | - | - | - | - | €0.003m | - |
| Current assets29/58 | €0.2m | €0.2m | €0.3m | €0.5m | €0.7m | €0.6m | €0.9m | €1.3m | ▲ 40.5% |
| Amounts receivable within one year40/41 | €0.1m | €0.2m | €0.1m | €0.3m | €0.3m | €0.4m | €0.8m | €1.0m | ▲ 20.2% |
| Trade receivables40 | - | - | - | €0.3m | €0.3m | €0.4m | €0.8m | €1.0m | ▲ 20.3% |
| Other amounts receivable41 | - | - | - | €0.004m | €0 | €0.06m | €0.01m | €0.01m | ▲ 13.6% |
| Cash at bank and in hand54/58 | €0.1m | €0.02m | €0.1m | €0.2m | €0.3m | €0.2m | €0.1m | €0.3m | ▲ 209% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €0.01m | €0 | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.2m | €0.2m | €0.3m | €0.5m | €0.7m | €0.6m | €0.9m | €1.3m | ▲ 40.8% |
| Equity10/15 | €0.008m | €0.06m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Contributions10/11 | €0.006m | €0.006m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.002m | €0.002m | €0.004m | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | = |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Distributable reserves133 | - | - | - | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | = |
| Profit (loss) carried forward14 | - | €0.05m | €0.09m | €0 | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €0.2m | €0.1m | €0.1m | €0.4m | €0.5m | €0.5m | €0.8m | €1.1m | ▲ 49.2% |
| Amounts payable after more than one year17 | - | - | - | - | - | €0.002m | €0.001m | €0 | ▼ 100% |
| Other amounts payable178/9 | - | - | - | - | - | €0.002m | €0.001m | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €0.2m | €0.1m | €0.1m | €0.4m | €0.5m | €0.5m | €0.8m | €1.1m | ▲ 49.3% |
| Trade debts44 | €0.09m | €0.1m | €0.1m | €0.3m | €0.1m | €0.2m | €0.4m | €0.7m | ▲ 75.8% |
| Suppliers440/4 | - | - | - | €0.3m | €0.1m | €0.2m | €0.4m | €0.7m | ▲ 75.8% |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.08m | €0.2m | €0.2m | €0.2m | ▲ 5.2% |
| Taxes450/3 | - | - | - | €0.02m | €0.08m | €0.1m | €0.1m | €0.1m | ▼ 3.1% |
| Remuneration and social security454/9 | - | - | - | - | - | €0.07m | €0.06m | €0.08m | ▲ 24.4% |
| Other amounts payable47/48 | - | - | - | €0.1m | €0.3m | €0.1m | €0.1m | €0.2m | ▲ 32.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €36,246 | €51,136 | €38,184 | €99,146 | €280,083 | €91,841 | €130,007 | €176,453 | ▲ 35.7% |
| + Depreciation and write-downs630 | €297 | €0 | - | - | - | - | - | €483 | - |
| Operating cash flow (approximation) | €36,543 | €51,136 | €38,184 | €99,146 | €280,083 | €91,841 | €130,007 | €176,936 | ▲ 36.1% |
| Investment in fixed assets (approximation) | - | €152 | - | - | - | - | - | - | - |
| Change in cash | - | -€87,061 | €119,999 | €104,248 | €88,370 | -€111,925 | -€124,237 | €204,805 | - |
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, 3,818 companies had the same profile as QUALITY CONTROL has now. Two years later, 95.1% were still going and 1.0% had gone bankrupt.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
95.1%
was still going
3.7%
stopped otherwise
1.0%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of QUALITY CONTROL itself: 0.2% 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 3,818 companies, not a prediction for QUALITY CONTROL. 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 28 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 15-07-2026 | 2026-00302311 | |
| 31-12-2024 | abbreviated format | 17-07-2025 | 2025-00285875 | |
| 31-12-2023 | abbreviated format | 19-07-2024 | 2024-00263401 | |
| 31-12-2022 | abbreviated format | 10-07-2023 | 2023-00219750 | |
| 31-12-2021 | abbreviated format | 04-07-2022 | 2022-20164444 | |
| 31-12-2020 | abbreviated format | 14-07-2021 | 2021-37200124 | |
| 31-12-2019 | abbreviated format | 02-07-2020 | 2020-25500295 | |
| 31-12-2018 | abbreviated format | 26-06-2019 | 2019-25200441 | |
| 31-12-2017 | abbreviated format | 11-07-2018 | 2018-32200402 | |
| 31-12-2016 | abbreviated format | 18-07-2017 | 2017-34000352 |