RECREATE
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 31-07-2026 at the NBB all 40 filings
Every figure per financial year
The operating result for 2025 is a loss of €2,741, smaller than the loss of €2,876 in 2024.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €410 | €410 | €446 | €449 | €462 | ▲ 2.8% |
| Gross operating margin9900 | €14,283 | €11,017 | -€9,954 | -€3,120 | -€3,680 | -€4,395 | -€2,427 | -€2,279 | ▲ 6.1% |
| Operating profit (loss)9901 | €6,744 | €6,280 | -€12,273 | -€3,529 | -€4,090 | -€4,842 | -€2,876 | -€2,741 | ▲ 4.7% |
| Financial income75/76B | - | - | - | €774 | €1,951 | €2,767 | €2,179 | €1,815 | ▼ 16.7% |
| Recurring financial income75 | €1,181 | €1,821 | €929 | €774 | €1,951 | €2,767 | €2,179 | €1,815 | ▼ 16.7% |
| Financial charges65/66B | - | - | - | €74 | €39 | €78 | €117 | €45 | ▼ 61.4% |
| Recurring financial charges65 | €78 | €52 | €30 | €74 | €39 | €78 | €117 | €45 | ▼ 61.4% |
| Profit (loss) for the period before taxes9903 | €7,848 | €8,049 | -€11,374 | -€2,829 | -€2,178 | -€2,153 | -€814 | -€971 | ▼ 19.3% |
| Income taxes67/77 | €135 | €133 | €51 | - | - | - | - | - | - |
| Profit (loss) for the period9904 | €7,712 | €7,916 | -€11,425 | -€2,829 | -€2,178 | -€2,153 | -€814 | -€971 | ▼ 19.3% |
| Profit (loss) for the period to be appropriated9905 | €7,712 | €7,916 | -€11,425 | -€2,829 | -€2,178 | -€2,153 | -€814 | -€971 | ▼ 19.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €67,773 | €74,832 | €54,611 | €51,033 | €48,886 | €49,227 | €46,418 | €45,064 | ▼ 2.9% |
| Fixed assets21/28 | €150 | - | - | - | - | - | - | - | - |
| Financial fixed assets28 | €150 | - | - | - | - | - | - | - | - |
| Current assets29/58 | €67,623 | €74,832 | €54,611 | €51,033 | €48,886 | €49,227 | €46,418 | €45,064 | ▼ 2.9% |
| Amounts receivable after more than one year29 | - | - | - | €49,041 | €47,192 | €48,959 | €46,418 | €44,889 | ▼ 3.3% |
| Other amounts receivable291 | - | - | - | €49,041 | €47,192 | €48,959 | €46,418 | €44,889 | ▼ 3.3% |
| Amounts receivable within one year40/41 | €60,600 | €8,138 | €1,062 | €1,062 | €1,062 | - | - | €132 | - |
| Trade receivables40 | - | - | - | - | - | - | - | €132 | - |
| Other amounts receivable41 | - | - | - | €1,062 | €1,062 | - | - | - | - |
| Cash at bank and in hand54/58 | €6,661 | €124 | €8 | €854 | €556 | €188 | €0 | €42 | ▲ 109× |
| Deferred charges and accrued income490/1 | - | - | - | €76 | €76 | €80 | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €67,773 | €74,832 | €54,611 | €51,033 | €48,886 | €49,227 | €46,418 | €45,064 | ▼ 2.9% |
| Equity10/15 | €57,274 | €65,190 | €53,765 | €50,936 | €48,758 | €46,605 | €45,792 | €44,821 | ▼ 2.1% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €38,674 | €46,590 | €35,165 | €32,336 | €30,158 | €28,005 | €27,192 | €26,221 | ▼ 3.6% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €30,476 | €28,298 | €28,005 | €27,192 | €26,221 | ▼ 3.6% |
| Amounts payable17/49 | €10,499 | €9,642 | €845 | €97 | €128 | €2,622 | €627 | €243 | ▼ 61.2% |
| Amounts payable within one year42/48 | €10,499 | €9,642 | €845 | €97 | €128 | €2,622 | €583 | €198 | ▼ 66.0% |
| Trade debts44 | €10,363 | €9,374 | €661 | €97 | €128 | €2,622 | €583 | €198 | ▼ 66.0% |
| Suppliers440/4 | - | - | - | €97 | €128 | €2,622 | €583 | €198 | ▼ 66.0% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €44 | €45 | ▲ 3.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,712 | €7,916 | -€11,425 | -€2,829 | -€2,178 | -€2,153 | -€814 | -€971 | ▼ 19.3% |
| Operating cash flow (approximation) | €7,712 | €7,916 | -€11,425 | -€2,829 | -€2,178 | -€2,153 | -€814 | -€971 | ▼ 19.3% |
| Change in cash | - | -€6,537 | -€116 | €846 | -€298 | -€368 | -€188 | €42 | - |
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, 12,322 companies had the same profile as RECREATE has now. Two years later, 90.3% were still going and 0.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of RECREATE 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 12,322 companies, not a prediction for RECREATE. 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 40 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-07-2026 | 2026-00372839 | |
| 31-12-2024 | micro format | 30-07-2025 | 2025-00336593 | |
| 31-12-2023 | micro format | 30-07-2024 | 2024-00308391 | |
| 31-12-2022 | micro format | 29-08-2023 | 2023-00375376 | |
| 31-12-2021 | micro format | 19-07-2022 | 2022-20199014 | |
| 31-12-2020 | micro format | 25-06-2021 | 2021-25000103 | |
| 31-12-2019 | abbreviated format | 07-10-2020 | 2020-59700169 | |
| 31-12-2018 | abbreviated format | 22-07-2019 | 2019-35200185 | |
| 31-12-2017 | abbreviated format | 17-07-2018 | 2018-33300556 | |
| 31-12-2016 | abbreviated format | 20-07-2017 | 2017-33000463 |