Roarty
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 16-07-2026 at the NBB all 14 filings
Turnover
≈ €560,000
Estimated: probably between €470,000 and €640,000
Total assets
€712,044▲ 54.7%
2024 · €460,144
Net result
€236,929▲ 144%
2024 · €96,915
Working capital
€646,699▲ 72.3%
2024 · €375,360
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€327,353
▲ 168%
2025
20182025
Net result
€236,929
▲ 144%
2025
highest quarter of the sector
20182025
Equity
€646,959
▲ 57.8%
2025
highest quarter of the sector
20182025
Total assets
€712,044
▲ 54.7%
2025
highest quarter of the sector
20182025
Debt
€65,085
▲ 29.9%
2025
20182025
Working capital
€646,699
▲ 72.3%
2025
highest quarter of the sector
20182025
Solvency
90.9%
▲ 1.8pp
2025
highest quarter of the sector
20182025
Current ratio
10.94
▲ 2.45
2025
highest quarter of the sector
20182025
Return on assets (ROA)
33.3%
▲ 12.2pp
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€83,749-€49,251▼ 41.2%€125,597▲ 155%€59,651▼ 52.5%€95,385▲ 59.9%€73,587▼ 22.9%€122,221▲ 66.1%€327,353▲ 168%
Net result€49,755-€27,002▼ 45.7%€87,788above the sector's middle half▲ 225%€44,641within the sector's middle half▼ 49.1%€83,969above the sector's middle half▲ 88.1%€56,066within the sector's middle half▼ 33.2%€96,915above the sector's middle half▲ 72.9%€236,929above the sector's middle half▲ 144%
Equity€127,728-€154,730▲ 21.1%€242,519within the sector's middle half▲ 56.7%€287,160above the sector's middle half▲ 18.4%€371,129above the sector's middle half▲ 29.2%€340,116above the sector's middle half▼ 8.4%€410,029above the sector's middle half▲ 20.6%€646,959above the sector's middle half▲ 57.8%
Total assets€537,088-€513,512▼ 4.4%€268,270within the sector's middle half▼ 47.8%€326,713within the sector's middle half▲ 21.8%€404,893within the sector's middle half▲ 23.9%€448,076within the sector's middle half▲ 10.7%€460,144within the sector's middle half▲ 2.7%€712,044above the sector's middle half▲ 54.7%
Debt€409,359-€358,782▼ 12.4%€25,751▼ 92.8%€39,553▲ 53.6%€33,765▼ 14.6%€107,960▲ 220%€50,115▼ 53.6%€65,085▲ 29.9%
Working capital€61,002-€78,619▲ 28.9%€234,768above the sector's middle half▲ 199%€271,877above the sector's middle half▲ 15.8%€346,137above the sector's middle half▲ 27.3%€316,822above the sector's middle half▼ 8.5%€375,360above the sector's middle half▲ 18.5%€646,699above the sector's middle half▲ 72.3%
Solvency23.8%-30.1%▲ 6.4pp90.4%above the sector's middle half▲ 60.3pp87.9%above the sector's middle half▼ 2.5pp91.7%above the sector's middle half▲ 3.8pp75.9%within the sector's middle half▼ 15.8pp89.1%above the sector's middle half▲ 13.2pp90.9%above the sector's middle half▲ 1.8pp
Current ratio1.87-3.04▲ 1.1710.12above the sector's middle half▲ 7.077.87above the sector's middle half▼ 2.2411.25above the sector's middle half▲ 3.383.93within the sector's middle half▼ 7.328.49above the sector's middle half▲ 4.5610.94above the sector's middle half▲ 2.45
Return on assets (ROA)9.3%-5.3%▼ 4.0pp32.7%above the sector's middle half▲ 27.5pp13.7%within the sector's middle half▼ 19.1pp20.7%within the sector's middle half▲ 7.1pp12.5%within the sector's middle half▼ 8.2pp21.1%within the sector's middle half▲ 8.5pp33.3%within the sector's middle half▲ 12.2pp
above
within
below
The sector band is the middle half of the companies in Legal and accounting activities (NACE 69). 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 168% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
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 €712,044
Fixed assets
€260 ▼ 99.3%
Current assets
€711,784 ▲ 67.3%
Equity and liabilities €712,044
Equity
€646,959 ▲ 57.8%
Debt
€65,085 ▲ 29.9%
Debt's share of the balance-sheet total falls from 10.9% to 9.1%. Equity and debt are higher.
Key figures and ratios
Debt to equity
0.10▼
2024 · 0.12
ROE
36.6%▲
2024 · 23.6%
Debt ≤ 1 year
€65,085▲
2024 · €50,115
Income taxes
€113,216▲
2024 · €44,253
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 | €11,053 | €14,574 | €4,280 | €18,318 | €12,077 |
| Depreciation and write-downs of the year | €3,521 | €4,866 | €6,602 | €6,942 | - |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €305 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19,250 | €19,384 | €2,704 | €3,521 | €4,866 | €6,602 | €6,942 | - | - |
| Other operating charges640/8 | - | - | - | €1,512 | €955 | €778 | €430 | €1,830 | ▲ 326% |
| Gross operating margin9900 | €104,177 | €75,303 | €130,392 | €64,684 | €101,206 | €80,968 | €129,593 | €329,183 | ▲ 154% |
| Operating profit (loss)9901 | €83,749 | €49,251 | €125,597 | €59,651 | €95,385 | €73,587 | €122,221 | €327,353 | ▲ 168% |
| Financial income75/76B | - | - | - | €5,716 | €14,497 | €18,376 | €19,210 | €23,570 | ▲ 22.7% |
| Recurring financial income75 | €22 | €1,618 | €5,438 | €5,716 | €14,497 | €18,376 | €19,210 | €23,570 | ▲ 22.7% |
| Financial charges65/66B | - | - | - | €357 | €513 | €642 | €263 | €777 | ▲ 196% |
| Recurring financial charges65 | €12,460 | €11,862 | €266 | €357 | €513 | €642 | €263 | €777 | ▲ 196% |
| Profit (loss) for the period before taxes9903 | €71,311 | €39,007 | €130,769 | €65,010 | €109,369 | €91,321 | €141,168 | €350,145 | ▲ 148% |
| Income taxes67/77 | €21,556 | €12,005 | €42,980 | €20,369 | €25,400 | €35,255 | €44,253 | €113,216 | ▲ 156% |
| Profit (loss) for the period9904 | €49,755 | €27,002 | €87,788 | €44,641 | €83,969 | €56,066 | €96,915 | €236,929 | ▲ 144% |
| Profit (loss) for the period to be appropriated9905 | €49,755 | €27,002 | €87,788 | €44,641 | €83,969 | €56,066 | €96,915 | €236,929 | ▲ 144% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €537,088 | €513,512 | €268,270 | €326,713 | €404,893 | €448,076 | €460,144 | €712,044 | ▲ 54.7% |
| Fixed assets21/28 | €406,182 | €396,413 | €7,752 | €15,283 | €24,991 | €23,294 | €34,669 | €260 | ▼ 99.3% |
| Tangible fixed assets22/27 | €405,922 | €396,153 | €7,492 | €15,023 | €24,731 | €23,034 | €34,409 | - | - |
| Plant, machinery and equipment23 | - | - | - | €4,180 | €10,225 | €11,634 | €15,476 | - | - |
| Furniture and vehicles24 | - | - | - | €10,843 | €14,506 | €11,400 | €13,040 | - | - |
| Other tangible fixed assets26 | - | - | - | - | - | - | €5,894 | - | - |
| Financial fixed assets28 | €260 | €260 | €260 | €260 | €260 | €260 | €260 | €260 | = |
| Current assets29/58 | €130,906 | €117,099 | €260,518 | €311,430 | €379,902 | €424,782 | €425,475 | €711,784 | ▲ 67.3% |
| Amounts receivable within one year40/41 | €1,375 | €47,024 | €83,765 | €107,950 | €312,865 | €366,220 | €357,062 | €658,595 | ▲ 84.4% |
| Trade receivables40 | - | - | - | €55 | €214 | - | €145 | €149,196 | ▲ 1,028× |
| Other amounts receivable41 | - | - | - | €107,895 | €312,651 | €366,220 | €356,917 | €509,400 | ▲ 42.7% |
| Cash at bank and in hand54/58 | €66,420 | €14,969 | €128,984 | €164,141 | €35,544 | €35,100 | €52,351 | €51,845 | ▼ 1.0% |
| Deferred charges and accrued income490/1 | - | - | - | €39,340 | €31,493 | €23,462 | €16,063 | €1,343 | ▼ 91.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €537,088 | €513,512 | €268,270 | €326,713 | €404,893 | €448,076 | €460,144 | €712,044 | ▲ 54.7% |
| Equity10/15 | €127,728 | €154,730 | €242,519 | €287,160 | €371,129 | €340,116 | €410,029 | €646,959 | ▲ 57.8% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €88,938 | €115,940 | €203,729 | €248,370 | €332,339 | €301,326 | €371,239 | €593,169 | ▲ 59.8% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €246,510 | €330,479 | €299,466 | €369,379 | €591,309 | ▲ 60.1% |
| Profit (loss) carried forward14 | €26,390 | €26,390 | €26,390 | €26,390 | €26,390 | €26,390 | €26,390 | €41,390 | ▲ 56.8% |
| Amounts payable17/49 | €409,359 | €358,782 | €25,751 | €39,553 | €33,765 | €107,960 | €50,115 | €65,085 | ▲ 29.9% |
| Amounts payable after more than one year17 | €337,505 | €318,352 | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €69,904 | €38,480 | €25,749 | €39,553 | €33,765 | €107,960 | €50,115 | €65,085 | ▲ 29.9% |
| Trade debts44 | €8,629 | €13,177 | €14,653 | €1,550 | €1,696 | €2,370 | €100 | €6,429 | ▲ 64× |
| Suppliers440/4 | - | - | - | €1,550 | €1,696 | €2,370 | €100 | €6,429 | ▲ 64× |
| Taxes, remuneration and social security45 | - | - | - | €38,003 | €32,069 | €23,512 | €23,013 | €58,657 | ▲ 155% |
| Taxes450/3 | - | - | - | €38,003 | €32,069 | €23,512 | €23,013 | €58,657 | ▲ 155% |
| Other amounts payable47/48 | - | - | - | - | - | €82,078 | €27,002 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €49,755 | €27,002 | €87,788 | €44,641 | €83,969 | €56,066 | €96,915 | €236,929 | ▲ 144% |
| + Depreciation and write-downs630 | €19,250 | €19,384 | €2,704 | €3,521 | €4,866 | €6,602 | €6,942 | - | - |
| Operating cash flow (approximation) | €69,005 | €46,386 | €90,493 | €48,162 | €88,834 | €62,668 | €103,858 | €236,929 | ▲ 128% |
| Investment in fixed assets (approximation) | - | -€9,615 | €385,957 | -€11,053 | -€14,574 | -€4,905 | -€18,318 | €34,409 | - |
| Change in cash | - | -€51,451 | €114,015 | €35,157 | -€128,597 | -€444 | €17,250 | -€505 | - |
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, 17,811 companies had the same profile as Roarty has now. Two years later, 96.5% were still going and 0.3% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
96.5%
was still going
3.1%
stopped otherwise
0.3%
went bankrupt
That fits the bankruptcy probability of Roarty 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 17,811 companies, not a prediction for Roarty. 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 14 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 16-07-2026 | 2026-00300290 | |
| 31-12-2024 | micro format | 02-07-2025 | 2025-00221550 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00445660 | |
| 31-12-2022 | micro format | 11-09-2023 | 2023-00447330 | |
| 31-12-2021 | micro format | 30-11-2022 | 2022-20533240 | |
| 31-12-2020 | micro format | 03-11-2021 | 2021-76800312 | |
| 31-12-2019 | micro format | 01-10-2020 | 2020-58900477 | |
| 31-12-2018 | micro format | 11-07-2019 | 2019-31900457 | |
| 31-12-2017 | micro format | 17-09-2018 | 2018-63100457 | |
| 31-12-2016 | micro format | 14-07-2017 | 2017-31700038 |