ROOTS
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 15-07-2026 at the NBB all 31 filings
Turnover
≈ €1.9m
Estimated: probably between €1.3m and €3.1m
EBIT margin
Not included in this filing
Net result
€39,780▼ 42.1%
2024 · €68,721
Working capital
€591,931▼ 11.2%
2024 · €666,462
In the rankings
#5 oldest company in Aartselaar, Telecoms and IT sector#8 company by equity in Aartselaar, Telecoms and IT sector#9 company by total assets in Aartselaar, Telecoms and IT sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€56,368
▼ 42.8%
2025
20182025
Net result
€39,780
▼ 42.1%
2025
middle half of the sector
20182025
Equity
€664,972
▼ 10.4%
2025
middle half of the sector
20182025
Total assets
€924,760
▼ 3.6%
2025
middle half of the sector
20182025
Debt
€259,788
▲ 19.6%
2025
20182025
Working capital
€591,931
▼ 11.2%
2025
middle half of the sector
20182025
Solvency
71.9%
▼ 5.5pp
2025
highest quarter of the sector
20182025
Current ratio
4.34
▼ 1.68
2025
highest quarter of the sector
20182025
Return on assets (ROA)
4.3%
▼ 2.9pp
2025
middle half of the sector
20182025
Staff (FTE)
7.6
▼ 1.3%
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€224,068-€200,829▼ 10.4%€335,796▲ 67.2%€179,416▼ 46.6%€122,950▼ 31.5%€91,451▼ 25.6%€98,539▲ 7.8%€56,368▼ 42.8%
Net result€137,600-€116,884▼ 15.1%€219,563above the sector's middle half▲ 87.8%€117,190above the sector's middle half▼ 46.6%€84,708within the sector's middle half▼ 27.7%€55,888within the sector's middle half▼ 34.0%€68,721within the sector's middle half▲ 23.0%€39,780within the sector's middle half▼ 42.1%
Equity€403,790-€498,674▲ 23.5%€663,238above the sector's middle half▲ 33.0%€725,428above the sector's middle half▲ 9.4%€755,066above the sector's middle half▲ 4.1%€810,955above the sector's middle half▲ 7.4%€742,076above the sector's middle half▼ 8.5%€664,972within the sector's middle half▼ 10.4%
Total assets€555,977-€609,636▲ 9.7%€837,721within the sector's middle half▲ 37.4%€839,328within the sector's middle half▲ 0.2%€907,253within the sector's middle half▲ 8.1%€951,899within the sector's middle half▲ 4.9%€959,277within the sector's middle half▲ 0.8%€924,760within the sector's middle half▼ 3.6%
Debt€152,187-€110,961▼ 27.1%€174,483▲ 57.2%€113,900▼ 34.7%€152,187▲ 33.6%€140,945▼ 7.4%€217,201▲ 54.1%€259,788▲ 19.6%
Working capital€350,073-€451,271▲ 28.9%€603,402above the sector's middle half▲ 33.7%€680,528above the sector's middle half▲ 12.8%€716,640above the sector's middle half▲ 5.3%€750,197above the sector's middle half▲ 4.7%€666,462above the sector's middle half▼ 11.2%€591,931within the sector's middle half▼ 11.2%
Solvency72.6%-81.8%▲ 9.2pp79.2%above the sector's middle half▼ 2.6pp86.4%above the sector's middle half▲ 7.3pp83.2%above the sector's middle half▼ 3.2pp85.2%above the sector's middle half▲ 2.0pp77.4%above the sector's middle half▼ 7.8pp71.9%above the sector's middle half▼ 5.5pp
Current ratio3.48-5.25▲ 1.774.46above the sector's middle half▼ 0.796.97above the sector's middle half▲ 2.525.71above the sector's middle half▼ 1.279.73above the sector's middle half▲ 4.036.03above the sector's middle half▼ 3.714.34above the sector's middle half▼ 1.68
Return on assets (ROA)24.7%-19.2%▼ 5.6pp26.2%above the sector's middle half▲ 7.0pp14.0%within the sector's middle half▼ 12.2pp9.3%within the sector's middle half▼ 4.6pp5.9%within the sector's middle half▼ 3.5pp7.2%within the sector's middle half▲ 1.3pp4.3%within the sector's middle half▼ 2.9pp
Staff (FTE)6-6.6▲ 10.0%7.8within the sector's middle half▲ 18.2%7.9within the sector's middle half▲ 1.3%7.2within the sector's middle half▼ 8.9%7.5within the sector's middle half▲ 4.2%7.7within the sector's middle half▲ 2.7%7.6within the sector's middle half▼ 1.3%
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 43% lower than in 2024 and the lowest since 2021.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €924,760
Fixed assets
€155,858 ▼ 2.8%
Current assets
€768,901 ▼ 3.8%
Equity and liabilities €924,760
Equity
€664,972 ▼ 10.4%
Debt
€259,788 ▲ 19.6%
Debt's share of the balance-sheet total rises from 22.6% to 28.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€99,665▼
2024 · €139,381
Cash flow
€83,077▼
2024 · €109,563
Debt to equity
0.39▲
2024 · 0.29
ROE
6.0%▼
2024 · 9.3%
Interest coverage
15.80▼
2024 · 22.27
Debt ≤ 1 year
€176,970▲
2024 · €132,531
Debt > 1 year
€82,818▼
2024 · €84,670
Income taxes
€21,027▼
2024 · €36,239
Staff costs
€625,039▲
2024 · €586,009
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 7 | 8 | 8 | 8 | 7 |
| full-time | 5 | 6 | 6 | 6 | 5 |
| part-time | 2 | 2 | 2 | 2 | 2 |
| in full-time equivalents | 6.6 | 7.6 | 7.6 | 7.6 | 6.6 |
| Average over the year, in full-time equivalents | 7.9 | 7.2 | 7.5 | 7.7 | 7.6 |
| On a permanent contract | 7 | 8 | 8 | 8 | 7 |
| Joined | 0 | 3 | 4 | 1 | 1 |
| Left | 2 | 2 | 4 | 1 | 2 |
| Training hours | 32 | - | 88 | 67 | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | - | - | €69,409 | €112,073 | €117,816 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €7,146 | €10,416 | €99,322 | €85,315 | €38,871 |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €22,082 | €16,889 | €21,938 | €40,842 | €43,297 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 7 entries · €63,479 awarded · €63,479 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 2 | €17,197 | €17,197 |
| 2024 | 1 | €16,335 | €16,335 |
| 2023 | 2 | €16,324 | €16,324 |
| 2022 | 2 | €13,623 | €13,623 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0 | - | - | €9,955 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | - | - | - | €518,491 | €489,288 | €577,721 | €586,009 | €625,039 | ▲ 6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €21,064 | €22,790 | €22,494 | €22,082 | €16,889 | €21,938 | €40,842 | €43,297 | ▲ 6.0% |
| Other operating charges640/8 | - | - | - | €701 | €1,236 | €1,354 | €1,382 | €1,268 | ▼ 8.3% |
| Gross operating margin9900 | €682,142 | €621,451 | €832,010 | €720,691 | €630,363 | €692,464 | €726,772 | €725,972 | ▼ 0.1% |
| Operating profit (loss)9901 | €224,068 | €200,829 | €335,796 | €179,416 | €122,950 | €91,451 | €98,539 | €56,368 | ▼ 42.8% |
| Financial income75/76B | - | - | - | €1,523 | €7,431 | €684 | €12,679 | €10,748 | ▼ 15.2% |
| Recurring financial income75 | €26 | €8 | €24 | €1,523 | €7,431 | €684 | €12,679 | €10,748 | ▼ 15.2% |
| Financial charges65/66B | - | - | - | €663 | €805 | €5,368 | €6,257 | €6,309 | ▲ 0.8% |
| Recurring financial charges65 | €5,151 | €955 | €4,149 | €663 | €805 | €5,368 | €6,257 | €6,309 | ▲ 0.8% |
| Profit (loss) for the period before taxes9903 | €226,660 | €199,882 | €331,671 | €180,276 | €129,576 | €86,767 | €104,961 | €60,807 | ▼ 42.1% |
| Income taxes67/77 | €89,060 | €82,998 | €112,108 | €63,086 | €44,868 | €30,878 | €36,239 | €21,027 | ▼ 42.0% |
| Profit (loss) for the period9904 | €137,600 | €116,884 | €219,563 | €117,190 | €84,708 | €55,888 | €68,721 | €39,780 | ▼ 42.1% |
| Transfer from tax-exempt reserves789 | - | - | - | €0 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €137,600 | €116,884 | €221,684 | €117,190 | €84,708 | €55,888 | €68,721 | €39,780 | ▼ 42.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €555,977 | €609,636 | €837,721 | €839,328 | €907,253 | €951,899 | €959,277 | €924,760 | ▼ 3.6% |
| Formation expenses20 | €0 | - | - | - | - | - | - | - | - |
| Fixed assets21/28 | €64,956 | €52,255 | €59,836 | €44,900 | €38,427 | €115,811 | €160,284 | €155,858 | ▼ 2.8% |
| Intangible fixed assets21 | €0 | - | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €56,956 | €44,255 | €51,836 | €36,900 | €30,427 | €107,811 | €152,284 | €147,858 | ▼ 2.9% |
| Plant, machinery and equipment23 | - | - | - | €13,909 | €17,179 | €20,978 | €25,000 | €16,858 | ▼ 32.6% |
| Furniture and vehicles24 | - | - | - | €17,142 | €10,805 | €84,711 | €125,485 | €129,523 | ▲ 3.2% |
| Other tangible fixed assets26 | - | - | - | €5,849 | €2,444 | €2,122 | €1,799 | €1,477 | ▼ 17.9% |
| Financial fixed assets28 | €8,000 | €8,000 | €8,000 | €8,000 | €8,000 | €8,000 | €8,000 | €8,000 | = |
| Current assets29/58 | €491,021 | €557,380 | €777,885 | €794,427 | €868,826 | €836,088 | €798,993 | €768,901 | ▼ 3.8% |
| Stocks and contracts in progress3 | €0 | - | - | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €144,998 | €119,177 | €188,506 | €150,946 | €193,123 | €207,140 | €218,995 | €205,507 | ▼ 6.2% |
| Trade receivables40 | - | - | - | €150,946 | €189,520 | €207,140 | €218,995 | €193,309 | ▼ 11.7% |
| Other amounts receivable41 | - | - | - | - | €3,603 | €0 | - | €12,199 | - |
| Current investments50/53 | €0 | - | - | - | - | - | €399,631 | €328,493 | ▼ 17.8% |
| Cash at bank and in hand54/58 | €346,023 | €438,203 | €589,379 | €643,286 | €673,619 | €628,948 | €150,815 | €224,815 | ▲ 49.1% |
| Deferred charges and accrued income490/1 | - | - | - | €195 | €2,084 | €0 | €29,553 | €10,085 | ▼ 65.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €555,977 | €609,636 | €837,721 | €839,328 | €907,253 | €951,899 | €959,277 | €924,760 | ▼ 3.6% |
| Equity10/15 | €403,790 | €498,674 | €663,238 | €725,428 | €755,066 | €810,955 | €742,076 | €664,972 | ▼ 10.4% |
| Contributions10/11 | €70,000 | €70,000 | €70,000 | €70,000 | €70,000 | €70,000 | €70,000 | €70,000 | = |
| Capital10 | - | - | - | €70,000 | €70,000 | €70,000 | €70,000 | €70,000 | = |
| Issued capital100 | - | - | - | €70,000 | €70,000 | €70,000 | €70,000 | €70,000 | = |
| Reserves13 | €333,790 | €428,674 | €593,238 | €655,428 | €685,066 | €740,955 | €672,076 | €594,972 | ▼ 11.5% |
| Non-distributable reserves130/1 | - | - | - | €7,000 | €7,000 | €7,000 | €7,000 | €7,000 | = |
| Legal reserve130 | - | - | - | €7,000 | €7,000 | €7,000 | €7,000 | €7,000 | = |
| Distributable reserves133 | - | - | - | €648,428 | €678,066 | €733,955 | €665,076 | €587,972 | ▼ 11.6% |
| Profit (loss) carried forward14 | €0 | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Provisions and deferred taxes16 | €0 | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €152,187 | €110,961 | €174,483 | €113,900 | €152,187 | €140,945 | €217,201 | €259,788 | ▲ 19.6% |
| Amounts payable after more than one year17 | €11,239 | €4,852 | €0 | - | - | €55,053 | €84,670 | €82,818 | ▼ 2.2% |
| Financial debts170/4 | - | - | - | - | - | €55,053 | €84,670 | €82,818 | ▼ 2.2% |
| Amounts payable within one year42/48 | €140,948 | €106,109 | €174,483 | €113,900 | €152,187 | €85,892 | €132,531 | €176,970 | ▲ 33.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0 | - | €14,356 | €27,404 | €34,998 | ▲ 27.7% |
| Trade debts44 | €17,863 | €13,453 | €36,742 | €5,800 | €24,492 | €5,965 | €36,136 | €79,179 | ▲ 119% |
| Suppliers440/4 | - | - | - | €5,800 | €24,492 | €5,965 | €36,136 | €79,179 | ▲ 119% |
| Taxes, remuneration and social security45 | - | - | - | €53,099 | €72,626 | €65,571 | €68,991 | €62,793 | ▼ 9.0% |
| Taxes450/3 | - | - | - | €4,709 | €17,050 | €7,171 | €9,138 | €5,692 | ▼ 37.7% |
| Remuneration and social security454/9 | - | - | - | €48,390 | €55,576 | €58,400 | €59,854 | €57,101 | ▼ 4.6% |
| Other amounts payable47/48 | - | - | - | €55,000 | €55,070 | €0 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €137,600 | €116,884 | €219,563 | €117,190 | €84,708 | €55,888 | €68,721 | €39,780 | ▼ 42.1% |
| + Depreciation and write-downs630 | €21,064 | €22,790 | €22,494 | €22,082 | €16,889 | €21,938 | €40,842 | €43,297 | ▲ 6.0% |
| Operating cash flow (approximation) | €158,664 | €139,674 | €242,058 | €139,272 | €101,597 | €77,826 | €109,563 | €83,077 | ▼ 24.2% |
| Investment in fixed assets (approximation) | - | -€10,089 | -€30,076 | -€7,146 | -€10,416 | -€99,322 | -€85,315 | -€38,871 | ▲ 54.4% |
| Change in cash | - | €92,180 | €151,176 | €53,907 | €30,333 | -€44,671 | -€478,134 | €74,001 | - |
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, 17,041 companies had the same profile as ROOTS has now. Two years later, 94.3% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
94.3%
was still going
4.9%
stopped otherwise
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ROOTS 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 17,041 companies, not a prediction for ROOTS. 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 31 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 15-07-2026 | 2026-00303035 | |
| 31-12-2024 | abbreviated format | 07-07-2025 | 2025-00242752 | |
| 31-12-2023 | abbreviated format | 02-07-2024 | 2024-00194742 | |
| 31-12-2022 | abbreviated format | 29-06-2023 | 2023-00173125 | |
| 31-12-2021 | abbreviated format | 27-06-2022 | 2022-20093190 | |
| 31-12-2020 | abbreviated format | 28-06-2021 | 2021-25900251 | |
| 31-12-2019 | abbreviated format | 30-06-2020 | 2020-24400148 | |
| 31-12-2018 | abbreviated format | 25-06-2019 | 2019-23100171 | |
| 31-12-2017 | abbreviated format | 11-07-2018 | 2018-32100221 | |
| 31-12-2016 | abbreviated format | 12-07-2017 | 2017-29800168 |