RONEDA
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 26-03-2026 PDF all 18 filings
Turnover
≈ €170,000
Estimated: probably between €160,000 and €230,000
Total assets
€492,542▲ 21.3%
2024 · €406,154
Net result
€60,418▲ 36.0%
2024 · €44,420
Working capital
€344,314▲ 23.9%
2024 · €277,996
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€85,633
▲ 34.5%
2025
20192025
Net result
€60,418
▲ 36.0%
2025
highest quarter of the sector
20192025
Equity
€429,034
▲ 16.9%
2025
highest quarter of the sector
20192025
Total assets
€492,542
▲ 21.3%
2025
highest quarter of the sector
20192025
Debt
€63,509
▲ 62.8%
2025
20192025
Working capital
€344,314
▲ 23.9%
2025
highest quarter of the sector
20192025
Solvency
87.1%
▼ 3.3pp
2025
highest quarter of the sector
20192025
Current ratio
6.62
▼ 1.90
2025
highest quarter of the sector
20192025
Return on assets (ROA)
12.3%
▲ 1.3pp
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€8,500--€2,546€47,601€34,051▼ 28.5%€22,140▼ 35.0%€63,682▲ 188%€85,633▲ 34.5%
Net result€6,828--€4,906below the sector's middle half€31,095within the sector's middle half€23,901within the sector's middle half▼ 23.1%€16,330within the sector's middle half▼ 31.7%€44,420within the sector's middle half▲ 172%€60,418above the sector's middle half▲ 36.0%
Equity€440,816-€251,410above the sector's middle half▼ 43.0%€282,505above the sector's middle half▲ 12.4%€306,406above the sector's middle half▲ 8.5%€322,736above the sector's middle half▲ 5.3%€367,156above the sector's middle half▲ 13.8%€429,034above the sector's middle half▲ 16.9%
Total assets€473,175-€469,904above the sector's middle half▼ 0.7%€515,263above the sector's middle half▲ 9.7%€556,634above the sector's middle half▲ 8.0%€328,528above the sector's middle half▼ 41.0%€406,154above the sector's middle half▲ 23.6%€492,542above the sector's middle half▲ 21.3%
Debt€32,358-€218,494▲ 575%€232,758▲ 6.5%€250,228▲ 7.5%€5,793▼ 97.7%€38,998▲ 573%€63,509▲ 62.8%
Working capital€314,017-€139,264above the sector's middle half▼ 55.7%€178,102above the sector's middle half▲ 27.9%€213,725above the sector's middle half▲ 20.0%€230,043above the sector's middle half▲ 7.6%€277,996above the sector's middle half▲ 20.8%€344,314above the sector's middle half▲ 23.9%
Solvency93.2%-53.5%within the sector's middle half▼ 39.7pp54.8%within the sector's middle half▲ 1.3pp55.0%within the sector's middle half▲ 0.2pp98.2%above the sector's middle half▲ 43.2pp90.4%above the sector's middle half▼ 7.8pp87.1%above the sector's middle half▼ 3.3pp
Current ratio11.08-1.64within the sector's middle half▼ 9.441.77within the sector's middle half▲ 0.131.88within the sector's middle half▲ 0.1176.75above the sector's middle half▲ 74.878.53above the sector's middle half▼ 68.226.62above the sector's middle half▼ 1.90
Return on assets (ROA)1.4%--1.0%below the sector's middle half▼ 2.5pp6.0%within the sector's middle half▲ 7.1pp4.3%within the sector's middle half▼ 1.7pp5.0%within the sector's middle half▲ 0.7pp10.9%within the sector's middle half▲ 6.0pp12.3%within the sector's middle half▲ 1.3pp
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 34% higher than in 2024 and the highest since 2019. 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 €492,542
Fixed assets
€87,004 ▼ 4.6%
Current assets
€405,538 ▲ 28.8%
Equity and liabilities €492,542
Equity
€429,034 ▲ 16.9%
Debt
€63,509 ▲ 62.8%
Debt's share of the balance-sheet total rises from 9.6% to 12.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€89,856▲
2024 · €67,905
Cash flow
€64,641▲
2024 · €48,643
Debt to equity
0.15▲
2024 · 0.11
ROE
14.1%▲
2024 · 12.1%
Interest coverage
49.73▼
2024 · over 100
Debt ≤ 1 year
€61,225▲
2024 · €36,932
Debt > 1 year
€1,132▼
2024 · €1,270
Income taxes
€24,401▲
2024 · €19,180
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16,720 | €16,766 | €14,917 | €5,422 | €4,972 | €4,222 | €4,222 | = |
| Other operating charges640/8 | - | - | - | €1,524 | €1,877 | €2,184 | €1,993 | ▼ 8.7% |
| Gross operating margin9900 | €25,908 | €15,866 | €64,202 | €40,998 | €28,989 | €70,088 | €91,849 | ▲ 31.0% |
| Operating profit (loss)9901 | €8,500 | -€2,546 | €47,601 | €34,051 | €22,140 | €63,682 | €85,633 | ▲ 34.5% |
| Financial income75/76B | - | - | - | €0 | - | €34 | €993 | ▲ 29× |
| Recurring financial income75 | €129 | €89 | €15 | €0 | - | €34 | €993 | ▲ 29× |
| Financial charges65/66B | - | - | - | €86 | €86 | €116 | €1,807 | ▲ 16× |
| Recurring financial charges65 | €5,533 | €183 | €162 | €86 | €86 | €116 | €1,807 | ▲ 16× |
| Profit (loss) for the period before taxes9903 | €9,403 | -€2,640 | €47,455 | €33,965 | €22,054 | €63,600 | €84,819 | ▲ 33.4% |
| Income taxes67/77 | €2,575 | €2,266 | €16,360 | €10,064 | €5,725 | €19,180 | €24,401 | ▲ 27.2% |
| Profit (loss) for the period9904 | €6,828 | -€4,906 | €31,095 | €23,901 | €16,330 | €44,420 | €60,418 | ▲ 36.0% |
| Profit (loss) for the period to be appropriated9905 | €6,828 | -€4,906 | €31,095 | €23,901 | €16,330 | €44,420 | €60,418 | ▲ 36.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €473,175 | €469,904 | €515,263 | €556,634 | €328,528 | €406,154 | €492,542 | ▲ 21.3% |
| Fixed assets21/28 | €128,005 | €113,861 | €105,844 | €100,421 | €95,449 | €91,226 | €87,004 | ▼ 4.6% |
| Intangible fixed assets21 | €2,373 | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €125,632 | €113,861 | €105,844 | €100,421 | €95,449 | €91,226 | €87,004 | ▼ 4.6% |
| Land and buildings22 | - | - | - | €99,704 | €94,911 | €90,868 | €86,824 | ▼ 4.4% |
| Plant, machinery and equipment23 | - | - | - | €717 | €538 | €359 | €179 | ▼ 50.0% |
| Current assets29/58 | €345,169 | €356,042 | €409,419 | €456,213 | €233,080 | €314,928 | €405,538 | ▲ 28.8% |
| Amounts receivable within one year40/41 | €21,859 | €777 | €3,773 | €15,413 | €11,529 | €5,478 | €13,905 | ▲ 154% |
| Trade receivables40 | - | - | - | €7,650 | €4,367 | €3,545 | €13,905 | ▲ 292% |
| Other amounts receivable41 | - | - | - | €7,763 | €7,162 | €1,933 | €0 | ▼ 100% |
| Current investments50/53 | - | - | - | - | - | - | €100,423 | - |
| Cash at bank and in hand54/58 | €321,687 | €353,997 | €402,725 | €439,505 | €218,599 | €307,127 | €290,264 | ▼ 5.5% |
| Deferred charges and accrued income490/1 | - | - | - | €1,295 | €2,951 | €2,324 | €946 | ▼ 59.3% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €473,175 | €469,904 | €515,263 | €556,634 | €328,528 | €406,154 | €492,542 | ▲ 21.3% |
| Equity10/15 | €440,816 | €251,410 | €282,505 | €306,406 | €322,736 | €367,156 | €429,034 | ▲ 16.9% |
| Contributions10/11 | €196,900 | - | - | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €243,916 | €241,883 | €270,105 | €294,006 | €310,336 | €354,756 | €416,634 | ▲ 17.4% |
| Non-distributable reserves130/1 | - | - | - | €341 | €341 | €341 | €0 | ▼ 100% |
| Reserves not available under the articles1311 | - | - | - | €341 | €341 | €341 | €0 | ▼ 100% |
| Distributable reserves133 | - | - | - | €293,664 | €309,994 | €354,415 | €416,634 | ▲ 17.6% |
| Profit (loss) carried forward14 | - | -€2,873 | €0 | - | - | - | - | - |
| Amounts payable17/49 | €32,358 | €218,494 | €232,758 | €250,228 | €5,793 | €38,998 | €63,509 | ▲ 62.8% |
| Amounts payable after more than one year17 | - | €495 | €495 | €770 | €770 | €1,270 | €1,132 | ▼ 10.9% |
| Other amounts payable178/9 | - | - | - | €770 | €770 | €1,270 | €1,132 | ▼ 10.9% |
| Amounts payable within one year42/48 | €31,152 | €216,778 | €231,317 | €242,488 | €3,037 | €36,932 | €61,225 | ▲ 65.8% |
| Trade debts44 | €152 | €1,919 | €704 | €7,237 | €456 | €2,509 | €859 | ▼ 65.8% |
| Suppliers440/4 | - | - | - | €7,237 | €456 | €2,509 | €859 | ▼ 65.8% |
| Taxes, remuneration and social security45 | - | - | - | €2,390 | €2,147 | €24,451 | €10,500 | ▼ 57.1% |
| Taxes450/3 | - | - | - | €2,390 | €2,147 | €11,307 | €10,500 | ▼ 7.1% |
| Remuneration and social security454/9 | - | - | - | €0 | - | €13,144 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | €232,861 | €434 | €9,973 | €49,866 | ▲ 400% |
| Accrued charges and deferred income492/3 | - | - | - | €6,970 | €1,986 | €796 | €1,152 | ▲ 44.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,828 | -€4,906 | €31,095 | €23,901 | €16,330 | €44,420 | €60,418 | ▲ 36.0% |
| + Depreciation and write-downs630 | €16,720 | €16,766 | €14,917 | €5,422 | €4,972 | €4,222 | €4,222 | = |
| Operating cash flow (approximation) | €23,548 | €11,860 | €46,013 | €29,323 | €21,302 | €48,643 | €64,641 | ▲ 32.9% |
| Investment in fixed assets (approximation) | - | -€2,622 | -€6,900 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €32,310 | €48,728 | €36,780 | -€220,906 | €88,527 | -€16,862 | - |
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 RONEDA 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 RONEDA 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 RONEDA. 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 18 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 26-03-2026 | 2026-00064538 | |
| 30-09-2024 | micro format | 30-04-2025 | 2025-00085411 | |
| 30-09-2023 | micro format | 21-03-2024 | 2024-00047072 | |
| 30-09-2022 | micro format | 15-12-2022 | 2022-20537825 | |
| 30-09-2021 | micro format | 25-03-2022 | 2022-08500314 | |
| 30-09-2020 | micro format | 12-03-2021 | 2021-07400041 | |
| 30-09-2019 | micro format | 17-03-2020 | 2020-06800041 | |
| 30-09-2018 | micro format | 15-03-2019 | 2019-06900548 | |
| 30-09-2017 | micro format | 29-03-2018 | 2018-08100025 | |
| 30-09-2016 | abbreviated format | 20-03-2017 | 2017-06500574 |