RUMMAR
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 07-09-2026 at the NBB all 5 filings
Turnover
≈ €2.1m
Estimated: probably between €1.3m and €2.7m
Total assets
€1.6m▲ 19.5%
2024 · €1.3m
Net result
€678,485▼ 16.9%
2024 · €816,160
Working capital
-€208,727
2024 · €55,287
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€674,513
▼ 17.9%
2025
20212025
Net result
€678,485
▼ 16.9%
2025
highest quarter of the sector
20212025
Equity
€354,257
▲ 8.7%
2025
highest quarter of the sector
20212025
Total assets
€1.6m
▲ 19.5%
2025
highest quarter of the sector
20212025
Debt
€1.2m
▲ 23.0%
2025
20212025
Working capital
-€208,727
2025
lowest quarter of the sector
20212025
Solvency
22.2%
▼ 2.2pp
2025
middle half of the sector
20212025
Current ratio
0.83
▼ 0.22
2025
middle half of the sector
20212025
Return on assets (ROA)
42.4%
▼ 18.6pp
2025
highest quarter of the sector
20212025
Staff (FTE)
8.8
▲ 100%
2025
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result€0.03m-€0.04m▲ 35.0%€0.3m▲ 577%€0.8m▲ 223%€0.7m▼ 17.9%
Net result€0.02mabove the sector's middle half-€0.03mabove the sector's middle half▲ 36.2%€0.2mabove the sector's middle half▲ 566%€0.8mabove the sector's middle half▲ 323%€0.7mabove the sector's middle half▼ 16.9%
Equity€0.02mwithin the sector's middle half-€0.05mwithin the sector's middle half▲ 124%€0.2mabove the sector's middle half▲ 370%€0.3mwithin the sector's middle half▲ 32.8%€0.4mabove the sector's middle half▲ 8.7%
Total assets€0.08mwithin the sector's middle half-€0.1mwithin the sector's middle half▲ 71.4%€0.4mabove the sector's middle half▲ 213%€1.3mwithin the sector's middle half▲ 226%€1.6mabove the sector's middle half▲ 19.5%
Debt€0.05m-€0.08m▲ 48.2%€0.2m▲ 109%€1.0m▲ 514%€1.2m▲ 23.0%
Working capital€0.005mwithin the sector's middle half--€0.002mwithin the sector's middle half€0.2mabove the sector's middle half€0.06mwithin the sector's middle half▼ 65.7%-€0.2mbelow the sector's middle half
Solvency30.4%within the sector's middle half-39.8%within the sector's middle half▲ 9.4pp59.8%within the sector's middle half▲ 20.0pp24.4%below the sector's middle half▼ 35.5pp22.2%within the sector's middle half▼ 2.2pp
Current ratio1.09within the sector's middle half-0.97within the sector's middle half▼ 0.122.08within the sector's middle half▲ 1.111.06below the sector's middle half▼ 1.020.83within the sector's middle half▼ 0.22
Return on assets (ROA)27.8%above the sector's middle half-22.1%above the sector's middle half▼ 5.7pp47.1%above the sector's middle half▲ 25.0pp61.0%above the sector's middle half▲ 13.9pp42.4%above the sector's middle half▼ 18.6pp
Staff (FTE)3.34.4within the sector's middle half▲ 33.3%8.8▲ 100%
above
within
below
The sector band is the middle half of the companies in Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles (NACE 95). 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 18% lower than in 2024.
Large changes and their cause
- 2024 Net result +323% on 2023. Demerger with Rummar BV, Official Gazette 22-10-2024. The accounts now follow the abbreviated format, last year the micro format.
- 2024 Total assets +226% on 2023. Demerger with Rummar BV, Official Gazette 22-10-2024.
Turnover and EBIT margin are not published. The abbreviated or 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 €1.6m
Fixed assets
€562,983 ▲ 102%
Current assets
€1.0m ▼ 2.3%
Equity and liabilities €1.6m
Equity
€354,257 ▲ 8.7%
Debt
€1.2m ▲ 23.0%
Debt's share of the balance-sheet total rises from 75.6% to 77.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€746,419▼
2024 · €864,679
Cash flow
€750,391▼
2024 · €858,925
Quick ratio
0.77▼
2024 · 0.99
Debt to equity
3.51▲
2024 · 3.11
ROE
191.5%▼
2024 · 250.5%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€1.2m▲
2024 · €1.0m
Debt > 1 year
€0▼
2024 · €4,486
Income taxes
€2,414▼
2024 · €2,821
Staff costs
€359,101▲
2024 · €213,744
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|
| Employees at the balance-sheet date | 5 | 8 | 13 |
| full-time | 0 | 1 | 1 |
| part-time | 5 | 7 | 12 |
| in full-time equivalents | 3 | 5.5 | 10.2 |
| Average over the year, in full-time equivalents | 1.8 | 4.4 | 7.4 |
| On a permanent contract | 2 | 7 | 8 |
| Joined | 3 | 5 | 9 |
| Left | 0 | 2 | 4 |
Source: social balance sheet in the 2023 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €25,009 | €31,946 | €65,514 | €147,146 | €440,109 |
| Financial fixed assets | - | €11,990 | €51 | €60,000 | - |
| Depreciation and write-downs of the year | €6,339 | €8,006 | €17,628 | €42,765 | €71,906 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €0.07m | €0.05m | €0.07m | €0.2m | €0.4m | ▲ 68.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.006m | €0.008m | €0.02m | €0.04m | €0.07m | ▲ 68.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€0.001m | €0 | - |
| Other operating charges640/8 | €0.004m | €0.003m | €0.001m | €0.006m | €0.006m | ▲ 5.4% |
| Gross operating margin9900 | €0.1m | €0.1m | €0.3m | €1.1m | €1.1m | ▲ 2.6% |
| Operating profit (loss)9901 | €0.03m | €0.04m | €0.3m | €0.8m | €0.7m | ▼ 17.9% |
| Financial income75/76B | €0 | €107 | €0.001m | €0.002m | €0.01m | ▲ 487% |
| Recurring financial income75 | €0 | €107 | €0.001m | €0.002m | €0.01m | ▲ 487% |
| Financial charges65/66B | €0.001m | €0.001m | €0.004m | €0.005m | €0.005m | ▲ 1.2% |
| Recurring financial charges65 | €0.001m | €0.001m | €0.004m | €0.005m | €0.005m | ▲ 1.2% |
| Profit (loss) for the period before taxes9903 | €0.03m | €0.04m | €0.3m | €0.8m | €0.7m | ▼ 16.9% |
| Income taxes67/77 | €0.005m | €0.007m | €0.06m | €0.003m | €0.002m | ▼ 14.4% |
| Profit (loss) for the period9904 | €0.02m | €0.03m | €0.2m | €0.8m | €0.7m | ▼ 16.9% |
| Profit (loss) for the period to be appropriated9905 | €0.02m | €0.03m | €0.2m | €0.8m | €0.7m | ▼ 16.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €0.08m | €0.1m | €0.4m | €1.3m | €1.6m | ▲ 19.5% |
| Fixed assets21/28 | €0.02m | €0.05m | €0.1m | €0.3m | €0.6m | ▲ 102% |
| Tangible fixed assets22/27 | €0.02m | €0.04m | €0.09m | €0.2m | €0.6m | ▲ 167% |
| Land and buildings22 | - | €0.005m | €0.007m | - | - | - |
| Plant, machinery and equipment23 | - | €0.006m | €0.02m | €0.03m | €0.03m | ▼ 8.2% |
| Furniture and vehicles24 | €0.02m | €0.03m | €0.06m | €0.09m | €0.3m | ▲ 266% |
| Other tangible fixed assets26 | - | - | - | €0.09m | €0.2m | ▲ 131% |
| Financial fixed assets28 | - | €0.01m | €0.01m | €0.07m | €0.01m | ▼ 83.3% |
| Current assets29/58 | €0.06m | €0.08m | €0.3m | €1.1m | €1.0m | ▼ 2.3% |
| Amounts receivable after more than one year29 | - | - | - | - | €0.5m | - |
| Other amounts receivable291 | - | - | - | - | €0.5m | - |
| Stocks and contracts in progress3 | €0.006m | - | - | €0.07m | €0.08m | ▲ 17.1% |
| Stocks30/36 | €0.006m | - | - | €0.07m | €0.08m | ▲ 17.1% |
| Amounts receivable within one year40/41 | €0.01m | €0.03m | €0.02m | €0.6m | €0.1m | ▼ 83.4% |
| Trade receivables40 | €0.01m | €0.03m | €0.01m | €0.1m | €0.1m | ▼ 20.0% |
| Other amounts receivable41 | - | - | €0.005m | €0.5m | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €0.04m | €0.05m | €0.3m | €0.3m | €0.4m | ▲ 7.5% |
| Deferred charges and accrued income490/1 | - | - | €0.002m | €0.01m | €0.03m | ▲ 114% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €0.08m | €0.1m | €0.4m | €1.3m | €1.6m | ▲ 19.5% |
| Equity10/15 | €0.02m | €0.05m | €0.2m | €0.3m | €0.4m | ▲ 8.7% |
| Contributions10/11 | €0.002m | €0.002m | €0.002m | €0.004m | €0.004m | = |
| Reserves13 | - | - | - | €0.04m | €0.04m | = |
| Non-distributable reserves130/1 | - | - | - | €459 | €459 | = |
| Reserves not available under the articles1311 | - | - | - | €459 | €459 | = |
| Distributable reserves133 | - | - | - | €0.04m | €0.04m | = |
| Profit (loss) carried forward14 | €0.02m | €0.05m | €0.2m | €0.3m | €0.3m | ▲ 10.0% |
| Amounts payable17/49 | €0.05m | €0.08m | €0.2m | €1.0m | €1.2m | ▲ 23.0% |
| Amounts payable after more than one year17 | - | - | €0.02m | €0.004m | €0 | ▼ 100% |
| Financial debts170/4 | - | - | €0.02m | €0.004m | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €0.05m | €0.08m | €0.1m | €1.0m | €1.2m | ▲ 23.9% |
| Current portion of amounts payable after more than one year42 | - | €0.02m | €0.01m | €0.01m | €0.004m | ▼ 58.6% |
| Trade debts44 | €0.02m | €0.02m | €0.03m | €0.06m | €0.1m | ▲ 154% |
| Suppliers440/4 | €0.02m | €0.02m | €0.03m | €0.06m | €0.1m | ▲ 154% |
| Taxes, remuneration and social security45 | €0.03m | €0.05m | €0.1m | €0.1m | €0.07m | ▼ 40.7% |
| Taxes450/3 | €0.01m | €0.03m | €0.09m | €0.1m | €0.02m | ▼ 81.6% |
| Remuneration and social security454/9 | €0.01m | €0.02m | €0.01m | €0.01m | €0.05m | ▲ 295% |
| Other amounts payable47/48 | €0.005m | - | €0.008m | €0.8m | €1.0m | ▲ 25.8% |
| Accrued charges and deferred income492/3 | - | - | - | €0.003m | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €21,270 | €28,959 | €193,000 | €816,160 | €678,485 | ▼ 16.9% |
| + Depreciation and write-downs630 | €6,339 | €8,006 | €17,628 | €42,765 | €71,906 | ▲ 68.1% |
| Operating cash flow (approximation) | €27,609 | €36,965 | €210,628 | €858,925 | €750,391 | ▼ 12.6% |
| Investment in fixed assets (approximation) | - | -€43,935 | -€62,447 | -€221,392 | -€356,844 | ▼ 61.2% |
| Change in cash | - | €7,599 | €243,794 | €43,837 | €24,972 | ▼ 43.0% |
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, 6,713 companies had the same profile as RUMMAR has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
95.8%
was still going
2.2%
stopped otherwise
1.8%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of RUMMAR itself: 0.8% 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 6,713 companies, not a prediction for RUMMAR. 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 | 07-09-2026 | 2026-00505102 | |
| 31-12-2024 | abbreviated format | 25-09-2025 | 2025-00502850 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00411844 | |
| 31-12-2022 | micro format | 01-09-2023 | 2023-00432785 | |
| 31-12-2021 | micro format | 29-08-2022 | 2022-20385433 |