QUANTIMMO
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00470517.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 35 filings
Turnover
€10,599
EBIT margin
-23.2%
Net result
-€20,618▲ 22.1%
2024 · -€26,455
Working capital
-€342,708▼ 21.2%
2024 · -€282,721
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
-€18,435
▲ 22.6%
2025
20182025
Net result
-€20,618
▲ 22.1%
2025
lowest quarter of the sector
20182025
EBIT margin
no figure
2025
20182025
Equity
-€73,480
▼ 47.6%
2025
lowest quarter of the sector
20182025
Total assets
€873,041
▼ 0.3%
2025
highest quarter of the sector
20182025
Debt
€916,668
▲ 2.5%
2025
20182025
Working capital
-€342,708
▼ 21.2%
2025
lowest quarter of the sector
20182025
Solvency
-8.4%
▼ 2.7pp
2025
lowest quarter of the sector
20182025
Current ratio
0.23
▼ 0.04
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
-2.4%
▲ 0.7pp
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€10,599-
Operating result-€2,462--€4,474▼ 81.7%-€4,094▲ 8.5%€109,389-€18,698-€17,281▲ 7.6%-€23,815▼ 37.8%-€18,435▲ 22.6%
Net result-€3,282--€4,738▼ 44.3%-€6,903below the sector's middle half▼ 45.7%€72,412above the sector's middle half-€19,217below the sector's middle half-€20,306below the sector's middle half▼ 5.7%-€26,455below the sector's middle half▼ 30.3%-€20,618below the sector's middle half▲ 22.1%
EBIT margin-23.2%-
Equity-€35,302-€39,960€33,057within the sector's middle half▼ 17.3%€25,469below the sector's middle half▼ 23.0%€3,164below the sector's middle half▼ 87.6%-€20,231below the sector's middle half-€49,774below the sector's middle half▼ 146%-€73,480below the sector's middle half▼ 47.6%
Total assets€17,480-€168,071▲ 862%€284,193within the sector's middle half▲ 69.1%€475,410within the sector's middle half▲ 67.3%€974,443within the sector's middle half▲ 105%€899,725within the sector's middle half▼ 7.7%€875,238above the sector's middle half▼ 2.7%€873,041above the sector's middle half▼ 0.3%
Debt€52,782-€128,111▲ 143%€251,136▲ 96.0%€415,971▲ 65.6%€938,338▲ 126%€888,044▼ 5.4%€894,130▲ 0.7%€916,668▲ 2.5%
Working capital-€36,849--€115,509▼ 213%€38,170within the sector's middle half€8,504within the sector's middle half▼ 77.7%-€186,489below the sector's middle half-€231,588below the sector's middle half▼ 24.2%-€282,721below the sector's middle half▼ 22.1%-€342,708below the sector's middle half▼ 21.2%
Solvency-202.0%-23.8%▲ 225.7pp11.6%below the sector's middle half▼ 12.1pp5.4%below the sector's middle half▼ 6.3pp0.3%below the sector's middle half▼ 5.0pp-2.2%below the sector's middle half▼ 2.6pp-5.7%below the sector's middle half▼ 3.4pp-8.4%below the sector's middle half▼ 2.7pp
Current ratio0.03-0.04▲ 0.011.78within the sector's middle half▲ 1.751.06within the sector's middle half▼ 0.720.48below the sector's middle half▼ 0.580.33below the sector's middle half▼ 0.150.27below the sector's middle half▼ 0.060.23below the sector's middle half▼ 0.04
Return on assets (ROA)-18.8%--2.8%▲ 16.0pp-2.4%below the sector's middle half▲ 0.4pp15.2%within the sector's middle half▲ 17.7pp-2.0%below the sector's middle half▼ 17.2pp-2.3%below the sector's middle half▼ 0.3pp-3.0%below the sector's middle half▼ 0.8pp-2.4%below the sector's middle half▲ 0.7pp
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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 a loss of €18,435, smaller than the loss of €23,815 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €873,041
Fixed assets
€771,882 =
Current assets
€101,158 ▼ 1.8%
Equity and liabilities
Equity-€73,480
Debt€916,668
Equity is negative. Debt (€916,668) exceeds the balance-sheet total (€873,041).
Key figures and ratios
EBITDA
€2,797▲
2024 · -€3,635
Cash flow
€614▲
2024 · -€6,275
Interest coverage
0.44▲
2024 · -0.54
Debt ≤ 1 year
€443,866▲
2024 · €385,701
Debt > 1 year
€472,802▼
2024 · €508,429
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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 | €148,712 | €216,708 | €5,260 | €4,667 | €20,857 |
| Financial fixed assets | - | €302,274 | - | €750 | - |
| Depreciation and write-downs of the year | €14,077 | €49,543 | €19,607 | €20,180 | €21,232 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €10,599 | - | - | - | - | - | - | - | - |
| Non-recurring operating income76A | - | - | - | €135,881 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,291 | €5,107 | €6,849 | €14,077 | €49,543 | €19,607 | €20,180 | €21,232 | ▲ 5.2% |
| Other operating charges640/8 | - | - | - | €6,605 | €2,169 | €11,472 | €4,806 | €20,861 | ▲ 334% |
| Gross operating margin9900 | €325 | €1,803 | €2,755 | €130,070 | €33,015 | €13,797 | €1,170 | €23,658 | ▲ 20× |
| Operating profit (loss)9901 | -€2,462 | -€4,474 | -€4,094 | €109,389 | -€18,698 | -€17,281 | -€23,815 | -€18,435 | ▲ 22.6% |
| Financial income75/76B | - | - | - | - | - | €110 | - | - | - |
| Recurring financial income75 | - | - | €5 | - | - | €110 | - | - | - |
| Financial charges65/66B | - | - | - | €3,007 | €4,636 | €7,252 | €6,758 | €6,301 | ▼ 6.8% |
| Recurring financial charges65 | €821 | €264 | €2,814 | €3,007 | €4,636 | €7,252 | €6,758 | €6,301 | ▼ 6.8% |
| Profit (loss) for the period before taxes9903 | -€3,282 | -€4,738 | -€6,903 | €106,382 | -€23,334 | -€24,424 | -€30,573 | -€24,735 | ▲ 19.1% |
| Transfer from deferred taxes780 | - | - | - | - | €4,118 | €4,118 | €4,118 | €4,118 | = |
| Transfer to deferred taxes680 | - | - | - | €33,970 | - | - | - | - | - |
| Profit (loss) for the period9904 | -€3,282 | -€4,738 | -€6,903 | €72,412 | -€19,217 | -€20,306 | -€26,455 | -€20,618 | ▲ 22.1% |
| Transfer to tax-exempt reserves689 | - | - | - | €101,911 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€3,282 | -€4,738 | -€6,903 | -€29,499 | -€19,217 | -€20,306 | -€26,455 | -€20,618 | ▲ 22.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €17,480 | €168,071 | €284,193 | €475,410 | €974,443 | €899,725 | €875,238 | €873,041 | ▼ 0.3% |
| Fixed assets21/28 | €16,277 | €163,471 | €197,294 | €331,929 | €801,368 | €787,021 | €772,258 | €771,882 | = |
| Tangible fixed assets22/27 | €16,277 | €163,471 | €196,494 | €331,129 | €498,294 | €483,947 | €468,434 | €468,058 | ▼ 0.1% |
| Land and buildings22 | - | - | - | €260,451 | €434,318 | €423,105 | €411,893 | €400,681 | ▼ 2.7% |
| Other tangible fixed assets26 | - | - | - | €70,677 | €63,976 | €60,842 | €56,541 | €67,378 | ▲ 19.2% |
| Financial fixed assets28 | - | - | €800 | €800 | €303,074 | €303,074 | €303,824 | €303,824 | = |
| Current assets29/58 | €1,203 | €4,600 | €86,899 | €143,481 | €173,075 | €112,704 | €102,980 | €101,158 | ▼ 1.8% |
| Amounts receivable within one year40/41 | €0 | - | €10,500 | €18,191 | €165,000 | €102,431 | €98,279 | €98,279 | = |
| Trade receivables40 | - | - | - | €18,191 | - | - | - | - | - |
| Other amounts receivable41 | - | - | - | - | €165,000 | €102,431 | €98,279 | €98,279 | = |
| Cash at bank and in hand54/58 | €1,203 | €4,600 | €76,399 | €125,290 | €8,075 | €5,967 | €4,701 | €2,879 | ▼ 38.8% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €4,306 | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €17,480 | €168,071 | €284,193 | €475,410 | €974,443 | €899,725 | €875,238 | €873,041 | ▼ 0.3% |
| Equity10/15 | -€35,302 | €39,960 | €33,057 | €25,469 | €3,164 | -€20,231 | -€49,774 | -€73,480 | ▼ 47.6% |
| Contributions10/11 | €18,592 | €98,592 | €98,592 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Contributions outside capital11 | - | - | - | €18,592 | €18,592 | €18,592 | €18,592 | - | - |
| Other1109/19 | - | - | - | €18,592 | €18,592 | €18,592 | €18,592 | - | - |
| Reserves13 | - | - | - | €101,911 | €98,823 | €95,735 | €92,646 | €89,558 | ▼ 3.3% |
| Tax-exempt reserves132 | - | - | - | €101,911 | €98,823 | €95,735 | €92,646 | €89,558 | ▼ 3.3% |
| Profit (loss) carried forward14 | -€53,894 | -€58,632 | -€65,535 | -€95,035 | -€114,251 | -€134,557 | -€161,013 | -€181,630 | ▼ 12.8% |
| Provisions and deferred taxes16 | - | - | - | €33,970 | €32,941 | €31,912 | €30,882 | €29,853 | ▼ 3.3% |
| Deferred taxes168 | - | - | - | €33,970 | €32,941 | €31,912 | €30,882 | €29,853 | ▼ 3.3% |
| Amounts payable17/49 | €52,782 | €128,111 | €251,136 | €415,971 | €938,338 | €888,044 | €894,130 | €916,668 | ▲ 2.5% |
| Amounts payable after more than one year17 | €14,730 | €8,002 | €202,407 | €280,994 | €578,774 | €543,752 | €508,429 | €472,802 | ▼ 7.0% |
| Financial debts170/4 | - | - | - | €280,194 | €576,274 | €541,252 | €505,929 | €470,302 | ▼ 7.0% |
| Other amounts payable178/9 | - | - | - | €800 | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Amounts payable within one year42/48 | €38,052 | €120,109 | €48,729 | €134,977 | €359,564 | €344,292 | €385,701 | €443,866 | ▲ 15.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €12,409 | €34,726 | €35,022 | €35,323 | €35,627 | ▲ 0.9% |
| Trade debts44 | €10,234 | €8,642 | - | - | - | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €122,568 | €324,838 | €309,270 | €350,378 | €408,239 | ▲ 16.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,282 | -€4,738 | -€6,903 | €72,412 | -€19,217 | -€20,306 | -€26,455 | -€20,618 | ▲ 22.1% |
| + Depreciation and write-downs630 | €1,291 | €5,107 | €6,849 | €14,077 | €49,543 | €19,607 | €20,180 | €21,232 | ▲ 5.2% |
| Operating cash flow (approximation) | -€1,992 | €369 | -€54 | €86,489 | €30,327 | -€700 | -€6,275 | €614 | - |
| Investment in fixed assets (approximation) | - | -€152,301 | -€40,672 | -€148,712 | -€518,982 | -€5,260 | -€5,417 | -€20,857 | ▼ 285% |
| Change in cash | - | €3,398 | €71,798 | €48,892 | -€117,215 | -€2,108 | -€1,266 | -€1,822 | ▼ 43.9% |
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, 1,242 companies had the same profile as QUANTIMMO has now. Two years later, 92.8% were still going and 1.9% had gone bankrupt.
- Small
- 20 years or older
- negative equity
- a small loss
92.8%
was still going
4.0%
stopped otherwise
1.9%
went bankrupt
Another 1.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of QUANTIMMO itself: 0.5% 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 1,242 companies, not a prediction for QUANTIMMO. 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 35 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00470517 | |
| 31-12-2024 | micro format | 30-06-2025 | 2025-00202788 | |
| 31-12-2023 | abbreviated format | 30-07-2024 | 2024-00306217 | |
| 31-12-2023 | micro format | 23-06-2024 | 2024-00151665 | |
| 31-12-2022 | abbreviated format | 30-07-2024 | 2024-00306233 | |
| 31-12-2022 | micro format | 29-06-2023 | 2023-00174182 | |
| 31-12-2021 | micro format | 22-07-2022 | 2022-20213099 | |
| 31-12-2020 | micro format | 07-08-2021 | 2021-46900283 | |
| 31-12-2019 | micro format | 19-08-2020 | 2020-42300188 | |
| 31-12-2018 | micro format | 26-08-2019 | 2019-52300598 |