SAMAYA DEVELOPMENT
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 24-06-2026 at the NBB all 5 filings
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€663,785▲ 2.5%
2024 · -€681,032
Working capital
-€2.3m▼ 40.7%
2024 · -€1.6m
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
-€33,046
▼ 27.8%
2025
20212025
Net result
-€663,785
▲ 2.5%
2025
lowest quarter of the sector
20212025
Equity
-€2.3m
▼ 40.7%
2025
lowest quarter of the sector
20212025
Total assets
€8.6m
▲ 10.7%
2025
middle half of the sector
20212025
Debt
€10.8m
▲ 15.9%
2025
20212025
Working capital
-€2.3m
▼ 40.7%
2025
lowest quarter of the sector
20212025
Solvency
-26.8%
▼ 5.7pp
2025
lowest quarter of the sector
20212025
Current ratio
0.79
▼ 0.04
2025
middle half of the sector
20212025
Return on assets (ROA)
-7.8%
▲ 1.1pp
2025
lowest quarter of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result-€0.1m--€0.02m▲ 82.4%-€0.05m▼ 120%-€0.03m▲ 46.1%-€0.03m▼ 27.8%
Net result-€0.2mbelow the sector's middle half--€0.3mbelow the sector's middle half▼ 55.8%-€0.6mbelow the sector's middle half▼ 96.9%-€0.7mbelow the sector's middle half▼ 19.0%-€0.7mbelow the sector's middle half▲ 2.5%
Equity-€0.09mbelow the sector's middle half--€0.4mbelow the sector's middle half▼ 336%-€0.9mbelow the sector's middle half▼ 152%-€1.6mbelow the sector's middle half▼ 71.7%-€2.3mbelow the sector's middle half▼ 40.7%
Total assets€5.6mwithin the sector's middle half-€6.4mwithin the sector's middle half▲ 13.8%€6.9mwithin the sector's middle half▲ 7.7%€7.7mwithin the sector's middle half▲ 12.0%€8.6mwithin the sector's middle half▲ 10.7%
Debt€5.7m-€6.8m▲ 18.7%€7.8m▲ 15.7%€9.4m▲ 19.3%€10.8m▲ 15.9%
Working capital-€0.09mwithin the sector's middle half--€0.4mbelow the sector's middle half▼ 336%-€0.9mbelow the sector's middle half▼ 152%-€1.6mbelow the sector's middle half▼ 71.7%-€2.3mbelow the sector's middle half▼ 40.7%
Solvency-1.5%below the sector's middle half--5.9%below the sector's middle half▼ 4.4pp-13.8%below the sector's middle half▼ 7.9pp-21.1%below the sector's middle half▼ 7.3pp-26.8%below the sector's middle half▼ 5.7pp
Current ratio0.98within the sector's middle half-0.94within the sector's middle half▼ 0.040.88within the sector's middle half▼ 0.070.83within the sector's middle half▼ 0.050.79within the sector's middle half▼ 0.04
Return on assets (ROA)-3.3%below the sector's middle half--4.5%below the sector's middle half▼ 1.2pp-8.3%below the sector's middle half▼ 3.8pp-8.8%below the sector's middle half▼ 0.5pp-7.8%below the sector's middle half▲ 1.1pp
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). 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 a loss of €33,046, larger than the loss of €25,852 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €8.6m
Fixed assets
€1 =
Current assets
€8.6m ▲ 10.7%
Equity and liabilities
Equity-€2.3m
Debt€10.8m
Equity is negative. Debt (€10.8m) exceeds the balance-sheet total (€8.6m).
Key figures and ratios
Quick ratio
0.02▼
2024 · 0.02
Debt ≤ 1 year
€10.8m▲
2024 · €9.4m
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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 |
|---|---|---|---|---|---|
| Financial fixed assets | - | €1 | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | €109,606 | - | - | - | - | - |
| Other operating charges640/8 | €14,244 | €2,392 | €2,897 | €4,646 | €3,471 | ▼ 25.3% |
| Gross operating margin9900 | -€109,606 | -€19,447 | -€45,099 | -€21,205 | -€29,575 | ▼ 39.5% |
| Operating profit (loss)9901 | -€123,850 | -€21,839 | -€47,996 | -€25,852 | -€33,046 | ▼ 27.8% |
| Financial charges65/66B | €62,761 | €268,909 | €524,358 | €655,181 | €630,739 | ▼ 3.7% |
| Recurring financial charges65 | €62,761 | €268,909 | €524,358 | €655,181 | €630,739 | ▼ 3.7% |
| Profit (loss) for the period before taxes9903 | -€186,610 | -€290,748 | -€572,354 | -€681,032 | -€663,785 | ▲ 2.5% |
| Profit (loss) for the period9904 | -€186,610 | -€290,748 | -€572,354 | -€681,032 | -€663,785 | ▲ 2.5% |
| Profit (loss) for the period to be appropriated9905 | -€186,610 | -€290,748 | -€572,354 | -€681,032 | -€663,785 | ▲ 2.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.6m | €6.4m | €6.9m | €7.7m | €8.6m | ▲ 10.7% |
| Fixed assets21/28 | - | €1 | €1 | €1 | €1 | = |
| Financial fixed assets28 | - | €1 | €1 | €1 | €1 | = |
| Current assets29/58 | €5.6m | €6.4m | €6.9m | €7.7m | €8.6m | ▲ 10.7% |
| Stocks and contracts in progress3 | €5.5m | €6.3m | €6.8m | €7.5m | €8.4m | ▲ 11.3% |
| Stocks30/36 | €5.5m | €6.3m | €6.8m | €7.5m | €8.4m | ▲ 11.3% |
| Amounts receivable within one year40/41 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 6.1% |
| Trade receivables40 | €0.09m | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Other amounts receivable41 | €0.02m | €0.05m | €0.03m | €0.02m | €0.03m | ▲ 24.9% |
| Cash at bank and in hand54/58 | €0.001m | €0.02m | €0.02m | €0.1m | €0.08m | ▼ 27.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.6m | €6.4m | €6.9m | €7.7m | €8.6m | ▲ 10.7% |
| Equity10/15 | -€0.09m | -€0.4m | -€0.9m | -€1.6m | -€2.3m | ▼ 40.7% |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Capital10 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Issued capital100 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Profit (loss) carried forward14 | -€0.2m | -€0.5m | -€1.0m | -€1.7m | -€2.4m | ▼ 38.4% |
| Amounts payable17/49 | €5.7m | €6.8m | €7.8m | €9.4m | €10.8m | ▲ 15.9% |
| Amounts payable within one year42/48 | €5.7m | €6.8m | €7.8m | €9.4m | €10.8m | ▲ 15.9% |
| Financial debts43 | €5.0m | €6.8m | €7.7m | €9.2m | €10.7m | ▲ 16.2% |
| Other loans439 | €5.0m | €6.8m | €7.7m | €9.2m | €10.7m | ▲ 16.2% |
| Trade debts44 | €0.6m | €0.01m | €0.1m | €0.2m | €0.2m | ▼ 0.9% |
| Suppliers440/4 | €0.6m | €0.01m | €0.1m | €0.2m | €0.2m | ▼ 0.9% |
| Other amounts payable47/48 | €0.02m | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€186,610 | -€290,748 | -€572,354 | -€681,032 | -€663,785 | ▲ 2.5% |
| Operating cash flow (approximation) | -€186,610 | -€290,748 | -€572,354 | -€681,032 | -€663,785 | ▲ 2.5% |
| Investment in fixed assets (approximation) | - | - | €0 | €0 | €0 | - |
| Change in cash | - | €16,792 | €4,294 | €85,401 | -€29,249 | - |
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, 111 companies had the same profile as SAMAYA DEVELOPMENT has now. Two years later, 96.4% were still going and 0.0% had gone bankrupt.
- Medium-sized
- 5 to 10 years old
- negative equity
- a small loss
96.4%
was still going
2.7%
stopped otherwise
0.0%
went bankrupt
Another 0.9% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SAMAYA DEVELOPMENT itself: 0.3% 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 111 companies, not a prediction for SAMAYA DEVELOPMENT. 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 | full format | 24-06-2026 | 2026-00207065 | |
| 31-12-2024 | full format | 30-06-2025 | 2025-00208712 | |
| 31-12-2023 | full format | 01-07-2024 | 2024-00197700 | |
| 31-12-2022 | full format | 27-06-2023 | 2023-00170218 | |
| 31-12-2021 | full format | 05-07-2022 | 2022-20165948 |