REGent
ActiveFinancials · financial year 2025, full format
2025 annual accounts filed 18 days after the deadline Filed on 18 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00404091.
Annual accounts 2025 filed on 18-08-2026 at the NBB all 17 filings
Turnover
≈ €1.1m
Estimated: probably between €790,000 and €1.4m
EBIT margin
Not included in this filing
Net result
€413,210▲ 520%
2024 · €66,597
Working capital
€38.5m▲ 33.0%
2024 · €29.0m
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€417,107
▲ 23×
2025
20182025
Net result
€413,210
▲ 520%
2025
highest quarter of the sector
20182025
Equity
€1.8m
▲ 29.7%
2025
middle half of the sector
20182025
Total assets
€42.7m
▲ 30.7%
2025
highest quarter of the sector
20182025
Debt
€40.9m
▲ 30.7%
2025
20182025
Working capital
€38.5m
▲ 33.0%
2025
highest quarter of the sector
20182025
Solvency
4.2%
=
2025
lowest quarter of the sector
20182025
Current ratio
10.30
▲ 1.43
2025
highest quarter of the sector
20182025
Return on assets (ROA)
1.0%
▲ 0.8pp
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€0.05m-€0.04m▼ 14.1%€0.07m▲ 81.7%-€0.05m-€0.1m▼ 113%€0.02m€0.02m▼ 3.6%€0.4m▲ 23×
Net result€0.05m-€0.04m▼ 14.3%€0.07mwithin the sector's middle half▲ 77.0%-€0.02mbelow the sector's middle half-€0.08mbelow the sector's middle half▼ 300%€0.08mwithin the sector's middle half€0.07mwithin the sector's middle half▼ 13.8%€0.4mabove the sector's middle half▲ 520%
Equity€1.2m-€1.3m▲ 3.2%€1.3mabove the sector's middle half▲ 5.6%€1.3mabove the sector's middle half▼ 1.5%€1.2mabove the sector's middle half▼ 6.0%€1.3mabove the sector's middle half▲ 6.2%€1.4mabove the sector's middle half▲ 5.0%€1.8mwithin the sector's middle half▲ 29.7%
Total assets€5.3m-€8.3m▲ 55.3%€9.0mabove the sector's middle half▲ 8.9%€10.3mabove the sector's middle half▲ 14.3%€16.0mabove the sector's middle half▲ 55.0%€23.9mabove the sector's middle half▲ 49.3%€32.6mabove the sector's middle half▲ 36.4%€42.7mabove the sector's middle half▲ 30.7%
Debt€4.1m-€7.0m▲ 70.9%€7.7m▲ 9.5%€9.0m▲ 17.1%€14.8m▲ 64.0%€22.6m▲ 53.0%€31.3m▲ 38.2%€40.9m▲ 30.7%
Working capital€4.0m-€6.6m▲ 64.5%€7.1mabove the sector's middle half▲ 8.3%€8.0mabove the sector's middle half▲ 12.8%€11.8mabove the sector's middle half▲ 46.8%€20.4mabove the sector's middle half▲ 73.3%€29.0mabove the sector's middle half▲ 42.0%€38.5mabove the sector's middle half▲ 33.0%
Solvency23.1%-15.3%▼ 7.7pp14.9%below the sector's middle half▼ 0.5pp12.8%below the sector's middle half▼ 2.1pp7.8%below the sector's middle half▼ 5.0pp5.5%below the sector's middle half▼ 2.2pp4.3%below the sector's middle half▼ 1.3pp4.2%below the sector's middle half=
Current ratio3.95-4.76▲ 0.824.67above the sector's middle half▼ 0.104.52above the sector's middle half▼ 0.153.78above the sector's middle half▼ 0.736.80above the sector's middle half▲ 3.018.87above the sector's middle half▲ 2.0710.30above the sector's middle half▲ 1.43
Return on assets (ROA)0.9%-0.5%▼ 0.4pp0.8%within the sector's middle half▲ 0.3pp-0.2%below the sector's middle half▼ 1.0pp-0.5%below the sector's middle half▼ 0.3pp0.3%below the sector's middle half▲ 0.8pp0.2%below the sector's middle half▼ 0.1pp1.0%within the sector's middle half▲ 0.8pp
above
within
below
The sector band is the middle half of the companies in Architectural and engineering activities; technical testing and analysis (NACE 71). 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 nearly 23 times that of 2024 and the highest since 2021. It is a recovery after the fall in 2024.
Large changes and their cause
- 2025 Net result +520% on 2024. The accounts now follow the full format, last year the abbreviated format.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €42.7m
Fixed assets
€5,503 ▼ 53.3%
Current assets
€42.7m ▲ 30.7%
Equity and liabilities €42.7m
Equity
€1.8m ▲ 29.7%
Debt
€40.9m ▲ 30.7%
Debt's share of the balance-sheet total stays at 95.8%.
Key figures and ratios
EBITDA
€426,493▲
2024 · €32,228
Cash flow
€422,595▲
2024 · €80,529
Debt to equity
22.67▲
2024 · 22.50
ROE
22.9%▲
2024 · 4.8%
Interest coverage
1.65▲
2024 · 0.40
Debt ≤ 1 year
€4.1m▲
2024 · €3.7m
Debt > 1 year
€28.7m▲
2024 · €26.7m
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 | €20,955 | €3,624 | €2,563 | €820 | €3,104 |
| Intangible fixed assets | €30,250 | - | - | - | - |
| Depreciation and write-downs of the year | €6,463 | €12,453 | €13,860 | €13,932 | €9,386 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 7 entries · €1.4m awarded · €1.3m paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €338,988 | €336,032 |
| 2024 | 2 | €533,759 | €567,900 |
| 2023 | 2 | €426,549 | €361,523 |
| 2022 | 2 | €134,884 | €74,615 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €1,680 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,585 | €2,402 | €1,976 | €6,463 | €12,453 | €13,860 | €13,932 | €9,386 | ▼ 32.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | - | - | €8,157 | - |
| Other operating charges640/8 | - | - | - | €150,560 | €206,357 | €424,514 | €62,544 | €3,137 | ▼ 95.0% |
| Gross operating margin9900 | €53,714 | €44,956 | €160,333 | €106,266 | €110,858 | €457,346 | €94,772 | €437,788 | ▲ 362% |
| Operating profit (loss)9901 | €46,830 | €40,237 | €73,096 | -€50,756 | -€107,953 | €18,972 | €18,296 | €417,107 | ▲ 23× |
| Financial income75/76B | - | - | - | €45,991 | €50,314 | €71,285 | €128,129 | €255,196 | ▲ 99.2% |
| Recurring financial income75 | €28,352 | €36,542 | €40,627 | €45,991 | €50,314 | €71,285 | €128,129 | €255,196 | ▲ 99.2% |
| Financial charges65/66B | - | - | - | €15,028 | €21,474 | €13,008 | €79,828 | €259,094 | ▲ 225% |
| Recurring financial charges65 | €28,526 | €36,762 | €42,904 | €15,028 | €21,474 | €13,008 | €79,828 | €259,094 | ▲ 225% |
| Profit (loss) for the period before taxes9903 | €46,657 | €40,016 | €70,818 | -€19,794 | -€79,113 | €77,249 | €66,597 | €413,210 | ▲ 520% |
| Profit (loss) for the period9904 | €46,716 | €40,016 | €70,818 | -€19,794 | -€79,113 | €77,249 | €66,597 | €413,210 | ▲ 520% |
| Profit (loss) for the period to be appropriated9905 | €46,716 | €40,016 | €70,818 | -€19,794 | -€79,113 | €77,249 | €66,597 | €413,210 | ▲ 520% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €5.3m | €8.3m | €9.0m | €10.3m | €16.0m | €23.9m | €32.6m | €42.7m | ▲ 30.7% |
| Fixed assets21/28 | €0.005m | €0.002m | €281 | €0.05m | €0.04m | €0.02m | €0.01m | €0.006m | ▼ 53.3% |
| Intangible fixed assets21 | €0.003m | €0.002m | - | €0.03m | €0.02m | €0.01m | €0.003m | - | - |
| Tangible fixed assets22/27 | €0.001m | €0.001m | €281 | €0.02m | €0.02m | €0.01m | €0.009m | €0.006m | ▼ 36.4% |
| Plant, machinery and equipment23 | - | - | - | €0.02m | €0.02m | €0.01m | €0.009m | €0.006m | ▼ 36.4% |
| Current assets29/58 | €5.3m | €8.3m | €9.0m | €10.3m | €16.0m | €23.9m | €32.6m | €42.7m | ▲ 30.7% |
| Amounts receivable after more than one year29 | - | - | - | €6.0m | €7.8m | €16.2m | €25.3m | €33.8m | ▲ 33.5% |
| Other amounts receivable291 | - | - | - | €6.0m | €7.8m | €16.2m | €25.3m | €33.8m | ▲ 33.5% |
| Stocks and contracts in progress3 | €0.004m | €0.003m | €0.008m | €0.01m | €0.009m | €0.008m | €0.009m | - | - |
| Stocks30/36 | - | - | - | €0.01m | €0.009m | €0.008m | €0.009m | - | - |
| Amounts receivable within one year40/41 | €1.1m | €1.6m | €1.3m | €1.4m | €5.4m | €3.6m | €3.3m | €4.6m | ▲ 38.3% |
| Trade receivables40 | - | - | - | €0.1m | €0.3m | €0.2m | €0.3m | €0.1m | ▼ 59.6% |
| Other amounts receivable41 | - | - | - | €1.2m | €5.1m | €3.3m | €3.0m | €4.5m | ▲ 47.8% |
| Cash at bank and in hand54/58 | €1.5m | €2.4m | €2.4m | €2.9m | €2.3m | €4.1m | €4.0m | €4.3m | ▲ 7.3% |
| Deferred charges and accrued income490/1 | - | - | - | €0.003m | €0.5m | €0.06m | €0.006m | €0.006m | ▲ 5.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €5.3m | €8.3m | €9.0m | €10.3m | €16.0m | €23.9m | €32.6m | €42.7m | ▲ 30.7% |
| Equity10/15 | €1.2m | €1.3m | €1.3m | €1.3m | €1.2m | €1.3m | €1.4m | €1.8m | ▲ 29.7% |
| Reserves13 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.6m | ▲ 168% |
| Profit (loss) carried forward14 | €1.0m | €1.0m | €1.1m | €1.1m | €1.0m | €1.1m | €1.2m | €1.2m | ▲ 1.1% |
| Amounts payable17/49 | €4.1m | €7.0m | €7.7m | €9.0m | €14.8m | €22.6m | €31.3m | €40.9m | ▲ 30.7% |
| Amounts payable after more than one year17 | €2.8m | €5.2m | €5.8m | €6.5m | €7.8m | €17.2m | €26.7m | €28.7m | ▲ 7.7% |
| Financial debts170/4 | - | - | - | €3.7m | €4.4m | €12.8m | €22.6m | €25.5m | ▲ 12.9% |
| Other amounts payable178/9 | - | - | - | €2.8m | €3.5m | €4.4m | €4.1m | €3.3m | ▼ 21.0% |
| Amounts payable within one year42/48 | €1.4m | €1.7m | €1.9m | €2.3m | €4.2m | €3.5m | €3.7m | €4.1m | ▲ 12.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €1.6m | €1.4m | €1.7m | €1.9m | €2.6m | ▲ 37.7% |
| Trade debts44 | €0.5m | €0.6m | €0.1m | €0.2m | €0.4m | €0.3m | €0.3m | €0.4m | ▲ 38.4% |
| Suppliers440/4 | - | - | - | €0.2m | €0.4m | €0.3m | €0.3m | €0.4m | ▲ 38.4% |
| Taxes, remuneration and social security45 | - | - | - | €0.003m | €0.04m | €0.03m | €0.05m | €0.04m | ▼ 20.8% |
| Taxes450/3 | - | - | - | €0.003m | €0.04m | €0.03m | €0.05m | €0.04m | ▼ 20.8% |
| Accrued charges and deferred income492/3 | - | - | - | €0.3m | €2.7m | €1.9m | €0.9m | €8.0m | ▲ 785% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.05m | €0.04m | €0.07m | -€0.02m | -€0.08m | €0.08m | €0.07m | €0.4m | ▲ 520% |
| + Depreciation and write-downs630 | €0.005m | €0.002m | €0.002m | €0.006m | €0.01m | €0.01m | €0.01m | €0.009m | ▼ 32.6% |
| Operating cash flow (approximation) | €0.05m | €0.04m | €0.07m | -€0.01m | -€0.07m | €0.09m | €0.08m | €0.4m | ▲ 425% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€0.05m | -€0.004m | -€0.003m | -€0.001m | -€0.003m | ▼ 279% |
| Change in cash | - | €0.9m | €0.06m | €0.5m | -€0.6m | €1.8m | -€0.1m | €0.3m | - |
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, 179 companies had the same profile as REGent has now. Two years later, 97.2% were still going and 1.1% had gone bankrupt.
- Large
- solvency under 10%
- a profit under 5% of the balance sheet
- without age
97.2%
was still going
1.7%
stopped otherwise
1.1%
went bankrupt
The bankruptcy probability of REGent itself is lower: < 0.1% within 12 months. It rests on far more data about REGent than the profile alone.
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 179 companies, not a prediction for REGent. 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 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 18-08-2026 | 2026-00404091 | |
| 31-12-2024 | abbreviated format | 08-07-2025 | 2025-00242699 | |
| 31-12-2023 | abbreviated format | 12-07-2024 | 2024-00239144 | |
| 31-12-2022 | abbreviated format | 11-08-2023 | 2023-00324568 | |
| 31-12-2021 | abbreviated format | 26-08-2022 | 2022-20322823 | |
| 31-12-2020 | abbreviated format | 06-07-2021 | 2021-31500332 | |
| 31-12-2019 | abbreviated format | 20-07-2020 | 2020-31800402 | |
| 31-12-2018 | abbreviated format | 27-08-2019 | 2019-52900227 | |
| 31-12-2017 | abbreviated format | 07-06-2018 | 2018-17100123 | |
| 31-12-2016 | abbreviated format | 08-08-2017 | 2017-42400232 |