Ron-Ops
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 28-07-2026 at the NBB all 5 filings
Turnover
≈ €170,000
Estimated: probably between €140,000 and €230,000
Total assets
€108,163▲ 12.3%
2024 · €96,333
Net result
€34,520▲ 4.2%
2024 · €33,123
Working capital
€88,613▲ 14.8%
2024 · €77,216
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€44,227
▲ 4.4%
2025
20212025
Net result
€34,520
▲ 4.2%
2025
middle half of the sector
20212025
Equity
€97,981
▲ 10.8%
2025
middle half of the sector
20212025
Total assets
€108,163
▲ 12.3%
2025
middle half of the sector
20212025
Debt
€10,182
▲ 29.3%
2025
20212025
Working capital
€88,613
▲ 14.8%
2025
middle half of the sector
20212025
Solvency
90.6%
▼ 1.2pp
2025
highest quarter of the sector
20212025
Current ratio
9.70
▼ 1.11
2025
highest quarter of the sector
20212025
Return on assets (ROA)
31.9%
▼ 2.5pp
2025
middle half of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result€31,827-€24,631▼ 22.6%€41,844▲ 69.9%€42,348▲ 1.2%€44,227▲ 4.4%
Net result€24,816within the sector's middle half-€19,422within the sector's middle half▼ 21.7%€32,901within the sector's middle half▲ 69.4%€33,123within the sector's middle half▲ 0.7%€34,520within the sector's middle half▲ 4.2%
Equity€27,816within the sector's middle half-€47,238within the sector's middle half▲ 69.8%€79,339within the sector's middle half▲ 68.0%€88,462within the sector's middle half▲ 11.5%€97,981within the sector's middle half▲ 10.8%
Total assets€63,692below the sector's middle half-€85,336within the sector's middle half▲ 34.0%€97,487within the sector's middle half▲ 14.2%€96,333within the sector's middle half▼ 1.2%€108,163within the sector's middle half▲ 12.3%
Debt€35,877-€38,098▲ 6.2%€18,148▼ 52.4%€7,872▼ 56.6%€10,182▲ 29.3%
Working capital€52,980within the sector's middle half-€61,055within the sector's middle half▲ 15.2%€66,650within the sector's middle half▲ 9.2%€77,216within the sector's middle half▲ 15.9%€88,613within the sector's middle half▲ 14.8%
Solvency43.7%within the sector's middle half-55.4%within the sector's middle half▲ 11.7pp81.4%above the sector's middle half▲ 26.0pp91.8%above the sector's middle half▲ 10.4pp90.6%above the sector's middle half▼ 1.2pp
Current ratio6.97above the sector's middle half-5.33above the sector's middle half▼ 1.644.67within the sector's middle half▼ 0.6610.81above the sector's middle half▲ 6.149.70above the sector's middle half▼ 1.11
Return on assets (ROA)39.0%above the sector's middle half-22.8%within the sector's middle half▼ 16.2pp33.7%above the sector's middle half▲ 11.0pp34.4%within the sector's middle half▲ 0.6pp31.9%within the sector's middle half▼ 2.5pp
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). 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 4% higher than in 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
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 €108,163
Fixed assets
€9,368 ▼ 16.7%
Current assets
€98,795 ▲ 16.1%
Equity and liabilities €108,163
Equity
€97,981 ▲ 10.8%
Debt
€10,182 ▲ 29.3%
Debt's share of the balance-sheet total rises from 8.2% to 9.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€49,235▲
2024 · €47,170
Cash flow
€39,528▲
2024 · €37,945
Debt to equity
0.10▲
2024 · 0.09
ROE
35.2%▼
2024 · 37.4%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€10,182▲
2024 · €7,872
Income taxes
€9,374▲
2024 · €9,188
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 | €1,938 | €10,627 | €65,387 | €3,379 | €3,131 |
| Depreciation and write-downs of the year | €102 | €2,281 | €3,804 | €4,822 | €5,008 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €102 | €2,281 | €3,804 | €4,822 | €5,008 | ▲ 3.9% |
| Other operating charges640/8 | - | - | €475 | €505 | €520 | ▲ 2.8% |
| Non-recurring operating charges66A | - | - | €659 | €63 | - | - |
| Gross operating margin9900 | €31,929 | €26,912 | €46,783 | €47,738 | €49,755 | ▲ 4.2% |
| Operating profit (loss)9901 | €31,827 | €24,631 | €41,844 | €42,348 | €44,227 | ▲ 4.4% |
| Financial income75/76B | - | €31 | - | €98 | €0 | ▼ 99.6% |
| Recurring financial income75 | - | €31 | - | €98 | €0 | ▼ 99.6% |
| Financial charges65/66B | €18 | €54 | €122 | €135 | €334 | ▲ 147% |
| Recurring financial charges65 | €18 | €54 | €122 | €135 | €334 | ▲ 147% |
| Profit (loss) for the period before taxes9903 | €31,809 | €24,609 | €41,722 | €42,311 | €43,894 | ▲ 3.7% |
| Income taxes67/77 | €6,993 | €5,187 | €8,821 | €9,188 | €9,374 | ▲ 2.0% |
| Profit (loss) for the period9904 | €24,816 | €19,422 | €32,901 | €33,123 | €34,520 | ▲ 4.2% |
| Profit (loss) for the period to be appropriated9905 | €24,816 | €19,422 | €32,901 | €33,123 | €34,520 | ▲ 4.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €63,692 | €85,336 | €97,487 | €96,333 | €108,163 | ▲ 12.3% |
| Fixed assets21/28 | €1,836 | €10,183 | €12,689 | €11,245 | €9,368 | ▼ 16.7% |
| Tangible fixed assets22/27 | €1,836 | €10,183 | €12,689 | €11,245 | €9,368 | ▼ 16.7% |
| Plant, machinery and equipment23 | - | €3,556 | €2,709 | €3,714 | €2,438 | ▼ 34.4% |
| Furniture and vehicles24 | €1,836 | €6,626 | €7,477 | €5,281 | €4,933 | ▼ 6.6% |
| Other tangible fixed assets26 | - | - | €2,502 | €2,250 | €1,998 | ▼ 11.2% |
| Current assets29/58 | €61,856 | €75,153 | €84,798 | €85,088 | €98,795 | ▲ 16.1% |
| Amounts receivable after more than one year29 | - | - | - | €5,000 | - | - |
| Other amounts receivable291 | - | - | - | €5,000 | - | - |
| Amounts receivable within one year40/41 | €11,404 | €13,246 | €14,834 | €10,330 | €17,841 | ▲ 72.7% |
| Trade receivables40 | €10,346 | €13,246 | €14,530 | €10,330 | €17,055 | ▲ 65.1% |
| Other amounts receivable41 | €1,058 | - | €304 | - | €786 | - |
| Cash at bank and in hand54/58 | €50,453 | €61,907 | €69,964 | €69,758 | €80,954 | ▲ 16.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €63,692 | €85,336 | €97,487 | €96,333 | €108,163 | ▲ 12.3% |
| Equity10/15 | €27,816 | €47,238 | €79,339 | €88,462 | €97,981 | ▲ 10.8% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Reserves13 | €24,816 | €44,238 | €76,339 | €85,462 | €94,981 | ▲ 11.1% |
| Distributable reserves133 | €24,816 | €44,238 | €76,339 | €85,462 | €94,981 | ▲ 11.1% |
| Amounts payable17/49 | €35,877 | €38,098 | €18,148 | €7,872 | €10,182 | ▲ 29.3% |
| Amounts payable within one year42/48 | €8,877 | €14,098 | €18,148 | €7,872 | €10,182 | ▲ 29.3% |
| Trade debts44 | €1,832 | €1,944 | €893 | €911 | €254 | ▼ 72.1% |
| Suppliers440/4 | €1,832 | €1,944 | €893 | €911 | €254 | ▼ 72.1% |
| Taxes, remuneration and social security45 | €7,045 | €11,431 | €15,902 | €6,625 | €9,685 | ▲ 46.2% |
| Taxes450/3 | €7,045 | €11,431 | €15,902 | €6,625 | €7,212 | ▲ 8.9% |
| Remuneration and social security454/9 | - | - | - | - | €2,473 | - |
| Other amounts payable47/48 | - | €723 | €1,353 | €336 | €243 | ▼ 27.8% |
| Accrued charges and deferred income492/3 | €27,000 | €24,000 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24,816 | €19,422 | €32,901 | €33,123 | €34,520 | ▲ 4.2% |
| + Depreciation and write-downs630 | €102 | €2,281 | €3,804 | €4,822 | €5,008 | ▲ 3.9% |
| Operating cash flow (approximation) | €24,918 | €21,703 | €36,705 | €37,945 | €39,528 | ▲ 4.2% |
| Investment in fixed assets (approximation) | - | -€10,627 | -€6,310 | -€3,379 | -€3,131 | ▲ 7.3% |
| Change in cash | - | €11,454 | €8,057 | -€206 | €11,195 | - |
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, 26,972 companies had the same profile as Ron-Ops has now. Two years later, 94.9% were still going and 1.6% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
94.9%
was still going
3.4%
stopped otherwise
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of Ron-Ops itself is lower: < 0.1% within 12 months. It rests on far more data about Ron-Ops 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 26,972 companies, not a prediction for Ron-Ops. 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.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 28-07-2026 | 2026-00351603 | |
| 31-12-2024 | micro format | 30-07-2025 | 2025-00355732 | |
| 31-12-2023 | micro format | 24-07-2024 | 2024-00288800 | |
| 31-12-2022 | micro format | 29-08-2023 | 2023-00409893 | |
| 31-12-2021 | micro format | 29-07-2022 | 2022-20267629 |