quarTETT
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 01-06-2026 PDF all 21 filings
Turnover
≈ €69,000
Estimated: probably between €34,000 and €130,000
Total assets
€126,124▼ 1.8%
2024 · €128,488
Net result
€415
2024 · -€1,934
Working capital
€11,123▼ 17.4%
2024 · €13,474
In the rankings
#4 oldest company in Anderlues, Professional and technical services sector#10 company by equity in Anderlues, Professional and technical services sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€1,744
2025
20182025
Net result
€415
2025
middle half of the sector
20182025
Equity
€116,609
▼ 2.7%
2025
highest quarter of the sector
20182025
Total assets
€126,124
▼ 1.8%
2025
middle half of the sector
20182025
Debt
€9,515
▲ 9.4%
2025
20182025
Working capital
€11,123
▼ 17.4%
2025
middle half of the sector
20182025
Solvency
92.5%
▼ 0.8pp
2025
highest quarter of the sector
20182025
Current ratio
2.17
▼ 0.99
2025
middle half of the sector
20182025
Return on assets (ROA)
0.3%
▲ 1.8pp
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€4,034-€14,897▲ 269%€10,171▼ 31.7%€19,051▲ 87.3%€1,944▼ 89.8%€5,059▲ 160%-€678€1,744
Net result€2,550-€12,212▲ 379%€7,002within the sector's middle half▼ 42.7%€12,573within the sector's middle half▲ 79.6%-€611within the sector's middle half€1,800within the sector's middle half-€1,934below the sector's middle half€415within the sector's middle half
Equity€88,752-€100,964▲ 13.8%€107,967above the sector's middle half▲ 6.9%€120,540above the sector's middle half▲ 11.6%€119,929above the sector's middle half▼ 0.5%€121,728above the sector's middle half▲ 1.5%€119,794above the sector's middle half▼ 1.6%€116,609above the sector's middle half▼ 2.7%
Total assets€148,519-€143,387▼ 3.5%€153,306within the sector's middle half▲ 6.9%€168,438within the sector's middle half▲ 9.9%€151,516within the sector's middle half▼ 10.0%€140,795within the sector's middle half▼ 7.1%€128,488within the sector's middle half▼ 8.7%€126,124within the sector's middle half▼ 1.8%
Debt€59,767-€42,422▼ 29.0%€45,339▲ 6.9%€47,898▲ 5.6%€31,587▼ 34.1%€19,066▼ 39.6%€8,694▼ 54.4%€9,515▲ 9.4%
Working capital-€32,883--€30,275▲ 7.9%-€6,444below the sector's middle half▲ 78.7%€1,120within the sector's middle half€2,535within the sector's middle half▲ 126%€6,003within the sector's middle half▲ 137%€13,474within the sector's middle half▲ 124%€11,123within the sector's middle half▼ 17.4%
Solvency59.8%-70.4%▲ 10.7pp70.4%within the sector's middle half=71.6%above the sector's middle half▲ 1.1pp79.2%above the sector's middle half▲ 7.6pp86.5%above the sector's middle half▲ 7.3pp93.2%above the sector's middle half▲ 6.8pp92.5%above the sector's middle half▼ 0.8pp
Current ratio0.21-0.23▲ 0.020.79below the sector's middle half▲ 0.561.04within the sector's middle half▲ 0.251.13within the sector's middle half▲ 0.091.38within the sector's middle half▲ 0.253.16within the sector's middle half▲ 1.782.17within the sector's middle half▼ 0.99
Return on assets (ROA)1.7%-8.5%▲ 6.8pp4.6%within the sector's middle half▼ 3.9pp7.5%within the sector's middle half▲ 2.9pp-0.4%within the sector's middle half▼ 7.9pp1.3%within the sector's middle half▲ 1.7pp-1.5%below the sector's middle half▼ 2.8pp0.3%within the sector's middle half▲ 1.8pp
above
within
below
The sector band is the middle half of the companies in Other professional, scientific and technical activities (NACE 74). 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 profit of €1,744, after a loss of €678 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.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €126,124
Fixed assets
€105,486 ▼ 3.0%
Current assets
€20,638 ▲ 4.7%
Equity and liabilities €126,124
Equity
€116,609 ▼ 2.7%
Debt
€9,515 ▲ 9.4%
Debt's share of the balance-sheet total rises from 6.8% to 7.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€8,020▼
2024 · €9,482
Cash flow
€6,691▼
2024 · €8,226
Debt to equity
0.08▲
2024 · 0.07
ROE
0.4%▲
2024 · -1.6%
Interest coverage
14.75▲
2024 · 10.48
Debt ≤ 1 year
€9,515▲
2024 · €6,242
Income taxes
€1,024▲
2024 · €622
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 | €19,810 | - | - | - | €3,953 |
| Depreciation and write-downs of the year | €9,530 | €10,160 | €10,160 | €10,160 | €6,276 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,040 | €6,373 | €5,541 | €9,530 | €10,160 | €10,160 | €10,160 | €6,276 | ▼ 38.2% |
| Other operating charges640/8 | - | - | - | €2,146 | €1,550 | €2,274 | €1,809 | €3,447 | ▲ 90.5% |
| Gross operating margin9900 | €11,597 | €22,818 | €17,273 | €30,727 | €13,654 | €17,492 | €11,291 | €11,466 | ▲ 1.5% |
| Operating profit (loss)9901 | €4,034 | €14,897 | €10,171 | €19,051 | €1,944 | €5,059 | -€678 | €1,744 | - |
| Financial income75/76B | - | - | - | €1 | €0 | €0 | €271 | €239 | ▼ 11.9% |
| Recurring financial income75 | - | - | €0 | €1 | €0 | €0 | €271 | €239 | ▼ 11.9% |
| Financial charges65/66B | - | - | - | €1,732 | €1,670 | €1,914 | €905 | €544 | ▼ 39.9% |
| Recurring financial charges65 | €1,369 | €1,187 | €519 | €1,732 | €1,670 | €1,914 | €905 | €544 | ▼ 39.9% |
| Profit (loss) for the period before taxes9903 | €2,664 | €13,711 | €9,652 | €17,320 | €274 | €3,145 | -€1,312 | €1,438 | - |
| Income taxes67/77 | €114 | €1,499 | €2,650 | €4,747 | €886 | €1,345 | €622 | €1,024 | ▲ 64.5% |
| Profit (loss) for the period9904 | €2,550 | €12,212 | €7,002 | €12,573 | -€611 | €1,800 | -€1,934 | €415 | - |
| Profit (loss) for the period to be appropriated9905 | €2,550 | €12,212 | €7,002 | €12,573 | -€611 | €1,800 | -€1,934 | €415 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €148,519 | €143,387 | €153,306 | €168,438 | €151,516 | €140,795 | €128,488 | €126,124 | ▼ 1.8% |
| Fixed assets21/28 | €139,886 | €134,512 | €128,972 | €139,252 | €129,092 | €118,932 | €108,772 | €105,486 | ▼ 3.0% |
| Tangible fixed assets22/27 | €139,886 | €134,512 | €128,972 | €139,252 | €129,092 | €118,932 | €108,772 | €105,486 | ▼ 3.0% |
| Land and buildings22 | - | - | - | €123,431 | €118,223 | €113,016 | €107,809 | €102,601 | ▼ 4.8% |
| Furniture and vehicles24 | - | - | - | - | - | - | - | €2,885 | - |
| Leasing and similar rights25 | - | - | - | €15,821 | €10,868 | €5,916 | €963 | - | - |
| Current assets29/58 | €8,634 | €8,874 | €24,334 | €29,187 | €22,424 | €21,863 | €19,716 | €20,638 | ▲ 4.7% |
| Amounts receivable within one year40/41 | €2,790 | €2,606 | €3,967 | €1,686 | €1,546 | €5,406 | €7,567 | €7,503 | ▼ 0.9% |
| Trade receivables40 | - | - | - | - | €1,218 | €2,582 | €1,551 | €4,951 | ▲ 219% |
| Other amounts receivable41 | - | - | - | €1,686 | €328 | €2,824 | €6,016 | €2,552 | ▼ 57.6% |
| Cash at bank and in hand54/58 | €3,482 | €3,817 | €18,472 | €25,454 | €18,281 | €13,746 | €9,528 | €12,053 | ▲ 26.5% |
| Deferred charges and accrued income490/1 | - | - | - | €2,046 | €2,598 | €2,711 | €2,621 | €1,082 | ▼ 58.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €148,519 | €143,387 | €153,306 | €168,438 | €151,516 | €140,795 | €128,488 | €126,124 | ▼ 1.8% |
| Equity10/15 | €88,752 | €100,964 | €107,967 | €120,540 | €119,929 | €121,728 | €119,794 | €116,609 | ▼ 2.7% |
| Contributions10/11 | €12,500 | €12,500 | - | €12,500 | €12,500 | €12,500 | €12,500 | €12,500 | = |
| Reserves13 | €2,400 | €2,400 | €2,400 | €2,400 | €2,400 | €4,200 | €4,200 | €4,200 | = |
| Non-distributable reserves130/1 | - | - | - | €2,400 | €2,400 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €2,400 | €2,400 | - | - | - | - |
| Distributable reserves133 | - | - | - | - | - | €4,200 | €4,200 | €4,200 | = |
| Profit (loss) carried forward14 | €73,852 | €86,064 | €93,067 | €105,640 | €105,029 | €105,029 | €103,094 | €99,909 | ▼ 3.1% |
| Amounts payable17/49 | €59,767 | €42,422 | €45,339 | €47,898 | €31,587 | €19,066 | €8,694 | €9,515 | ▲ 9.4% |
| Amounts payable after more than one year17 | €18,250 | €3,000 | €14,561 | €19,832 | €11,698 | €3,206 | €2,452 | - | - |
| Financial debts170/4 | - | - | - | €19,832 | €11,698 | €3,206 | €2,452 | - | - |
| Amounts payable within one year42/48 | €41,517 | €39,149 | €30,779 | €28,067 | €19,889 | €15,860 | €6,242 | €9,515 | ▲ 52.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €7,793 | €8,134 | €8,492 | €754 | - | - |
| Trade debts44 | €2,730 | €2,994 | €2,897 | €374 | €2,215 | €2,425 | €2,725 | €2,528 | ▼ 7.2% |
| Suppliers440/4 | - | - | - | €374 | €2,215 | €2,425 | €2,725 | €2,528 | ▼ 7.2% |
| Taxes, remuneration and social security45 | - | - | - | €14,442 | €9,541 | €4,943 | €2,763 | €3,388 | ▲ 22.6% |
| Taxes450/3 | - | - | - | €11,087 | €6,186 | €4,943 | €2,763 | €3,388 | ▲ 22.6% |
| Remuneration and social security454/9 | - | - | - | €3,354 | €3,354 | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €5,457 | - | - | - | €3,600 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,550 | €12,212 | €7,002 | €12,573 | -€611 | €1,800 | -€1,934 | €415 | - |
| + Depreciation and write-downs630 | €6,040 | €6,373 | €5,541 | €9,530 | €10,160 | €10,160 | €10,160 | €6,276 | ▼ 38.2% |
| Operating cash flow (approximation) | €8,590 | €18,585 | €12,543 | €22,103 | €9,549 | €11,960 | €8,226 | €6,691 | ▼ 18.7% |
| Investment in fixed assets (approximation) | - | -€1,000 | €0 | -€19,810 | €0 | €0 | €0 | -€2,990 | - |
| Change in cash | - | €335 | €14,654 | €6,982 | -€7,173 | -€4,535 | -€4,217 | €2,525 | - |
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, 17,041 companies had the same profile as quarTETT has now. Two years later, 94.3% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
94.3%
was still going
4.9%
stopped otherwise
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of quarTETT 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 17,041 companies, not a prediction for quarTETT. 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 21 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 01-06-2026 | 2026-00130615 | |
| 31-12-2024 | micro format | 02-06-2025 | 2025-00112828 | |
| 31-12-2023 | micro format | 30-07-2024 | 2024-00313645 | |
| 31-12-2022 | micro format | 15-06-2023 | 2023-00127773 | |
| 31-12-2021 | micro format | 16-06-2022 | 2022-20068829 | |
| 31-12-2020 | micro format | 21-06-2021 | 2021-22400329 | |
| 31-12-2019 | micro format | 09-06-2020 | 2020-15700287 | |
| 31-12-2018 | micro format | 01-07-2019 | 2019-26500555 | |
| 31-12-2017 | micro format | 04-06-2018 | 2018-15700299 | |
| 31-12-2016 | micro format | 25-07-2017 | 2017-35700294 |