SENSO
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 10-06-2026 PDF all 36 filings
Turnover
≈ €330,000
Estimated: probably between €230,000 and €650,000
Total assets
€350,932▲ 1.3%
2024 · €346,447
Net result
€703
2024 · -€14,195
Working capital
-€66,515▲ 24.8%
2024 · -€88,420
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€5,131
2025
20182025
Net result
€703
2025
middle half of the sector
20182025
Equity
-€10,667
▲ 6.2%
2025
lowest quarter of the sector
20182025
Total assets
€350,932
▲ 1.3%
2025
highest quarter of the sector
20182025
Debt
€361,599
▲ 1.1%
2025
20182025
Working capital
-€66,515
▲ 24.8%
2025
lowest quarter of the sector
20182025
Solvency
-3.0%
▲ 0.2pp
2025
lowest quarter of the sector
20182025
Current ratio
0.81
▲ 0.08
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
0.2%
▲ 4.3pp
2025
middle half of the sector
20182025
Staff (FTE)
1.5
▲ 7.1%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€14,703-€14,679€6,113▼ 58.4%€14,931▲ 144%-€21,827€2,951-€7,783€5,131
Net result-€21,611-€4,514€5,358within the sector's middle half▲ 18.7%€7,946within the sector's middle half▲ 48.3%-€29,422below the sector's middle half-€4,697below the sector's middle half▲ 84.0%-€14,195below the sector's middle half▼ 202%€703within the sector's middle half
Equity€19,125-€23,639▲ 23.6%€28,997within the sector's middle half▲ 22.7%€36,943within the sector's middle half▲ 27.4%€7,521within the sector's middle half▼ 79.6%€2,824below the sector's middle half▼ 62.4%-€11,370below the sector's middle half-€10,667below the sector's middle half▲ 6.2%
Total assets€291,748-€296,706▲ 1.7%€285,668within the sector's middle half▼ 3.7%€310,767within the sector's middle half▲ 8.8%€294,377within the sector's middle half▼ 5.3%€346,358above the sector's middle half▲ 17.7%€346,447above the sector's middle half=€350,932above the sector's middle half▲ 1.3%
Debt€272,623-€273,067▲ 0.2%€256,671▼ 6.0%€273,824▲ 6.7%€286,856▲ 4.8%€343,534▲ 19.8%€357,817▲ 4.2%€361,599▲ 1.1%
Working capital-€30,724--€31,935▼ 3.9%-€29,643below the sector's middle half▲ 7.2%-€33,064below the sector's middle half▼ 11.5%-€56,190below the sector's middle half▼ 69.9%-€76,275below the sector's middle half▼ 35.7%-€88,420below the sector's middle half▼ 15.9%-€66,515below the sector's middle half▲ 24.8%
Solvency6.6%-8.0%▲ 1.4pp10.2%within the sector's middle half▲ 2.2pp11.9%within the sector's middle half▲ 1.7pp2.6%below the sector's middle half▼ 9.3pp0.8%below the sector's middle half▼ 1.7pp-3.3%below the sector's middle half▼ 4.1pp-3.0%below the sector's middle half▲ 0.2pp
Current ratio0.86-0.86=0.87within the sector's middle half▲ 0.010.85below the sector's middle half▼ 0.020.78below the sector's middle half▼ 0.070.74below the sector's middle half▼ 0.040.73below the sector's middle half▼ 0.010.81below the sector's middle half▲ 0.08
Return on assets (ROA)-7.4%-1.5%▲ 8.9pp1.9%within the sector's middle half▲ 0.4pp2.6%within the sector's middle half▲ 0.7pp-10.0%below the sector's middle half▼ 12.6pp-1.4%within the sector's middle half▲ 8.6pp-4.1%below the sector's middle half▼ 2.7pp0.2%within the sector's middle half▲ 4.3pp
Staff (FTE)1.7-0.9▼ 47.1%11=1.3▲ 30.0%1.4▲ 7.7%1.5▲ 7.1%
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). 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 profit of €5,131, after a loss of €7,783 in 2024.
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 €350,932
Fixed assets
€68,903 ▼ 36.2%
Current assets
€282,029 ▲ 18.3%
Equity and liabilities
Equity-€10,667
Debt€361,599
Equity is negative. Debt (€361,599) exceeds the balance-sheet total (€350,932).
Key figures and ratios
EBITDA
€44,220▲
2024 · €29,550
Cash flow
€39,792▲
2024 · €23,138
Quick ratio
0.01▼
2024 · 0.01
Interest coverage
11.12▲
2024 · 5.10
Debt ≤ 1 year
€348,544▲
2024 · €326,875
Debt > 1 year
€13,055▼
2024 · €30,942
Income taxes
€818▼
2024 · €1,059
Staff costs
€57,931▲
2024 · €49,007
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.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 1 | 2 |
| full-time | - | - | - | - | 1 |
| part-time | 1 | 1 | 1 | 1 | 1 |
| in full-time equivalents | 0.9 | 0.9 | 0.9 | 0.9 | 1.9 |
| Average over the year, in full-time equivalents | 0.9 | 0.9 | 1.3 | 1.4 | 1.5 |
| On a permanent contract | 1 | 1 | 1 | 1 | 1 |
| Joined | 22 | - | 90 | 85 | - |
| Left | 22 | - | 90 | 85 | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €57,208 | - | €77,035 | €12,859 | - |
| Depreciation and write-downs of the year | €19,886 | €27,429 | €38,527 | €37,333 | €39,089 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €32,771 | €43,411 | €47,401 | €49,007 | €57,931 | ▲ 18.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €26,594 | €19,329 | €17,759 | €19,886 | €27,429 | €38,527 | €37,333 | €39,089 | ▲ 4.7% |
| Other operating charges640/8 | - | - | - | €3,859 | €2,710 | €1,925 | €1,865 | €2,162 | ▲ 15.9% |
| Gross operating margin9900 | €49,775 | €66,750 | €51,616 | €71,447 | €51,722 | €90,805 | €80,422 | €104,313 | ▲ 29.7% |
| Operating profit (loss)9901 | -€14,703 | €14,679 | €6,113 | €14,931 | -€21,827 | €2,951 | -€7,783 | €5,131 | - |
| Financial income75/76B | - | - | - | €266 | €200 | €92 | €440 | €367 | ▼ 16.7% |
| Recurring financial income75 | €153 | €125 | €6,308 | €266 | €200 | €92 | €440 | €367 | ▼ 16.7% |
| Financial charges65/66B | - | - | - | €5,065 | €4,295 | €5,515 | €5,793 | €3,977 | ▼ 31.3% |
| Recurring financial charges65 | €3,561 | €5,447 | €4,457 | €5,065 | €4,295 | €5,515 | €5,793 | €3,977 | ▼ 31.3% |
| Profit (loss) for the period before taxes9903 | -€18,111 | €9,357 | €7,964 | €10,132 | -€25,922 | -€2,472 | -€13,135 | €1,521 | - |
| Income taxes67/77 | €3,500 | €4,843 | €2,606 | €2,186 | €3,500 | €2,225 | €1,059 | €818 | ▼ 22.8% |
| Profit (loss) for the period9904 | -€21,611 | €4,514 | €5,358 | €7,946 | -€29,422 | -€4,697 | -€14,195 | €703 | - |
| Profit (loss) for the period to be appropriated9905 | -€21,611 | €4,514 | €5,358 | €7,946 | -€29,422 | -€4,697 | -€14,195 | €703 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €291,748 | €296,706 | €285,668 | €310,767 | €294,377 | €346,358 | €346,447 | €350,932 | ▲ 1.3% |
| Fixed assets21/28 | €103,631 | €101,823 | €84,064 | €121,386 | €93,958 | €132,466 | €107,992 | €68,903 | ▼ 36.2% |
| Intangible fixed assets21 | €4,372 | €2,563 | €1,059 | €529 | €0 | €0 | €0 | €0 | - |
| Tangible fixed assets22/27 | €95,719 | €95,720 | €79,465 | €117,317 | €90,418 | €128,926 | €104,452 | €65,363 | ▼ 37.4% |
| Land and buildings22 | - | - | - | €54,068 | €41,834 | €30,238 | €19,158 | €8,078 | ▼ 57.8% |
| Plant, machinery and equipment23 | - | - | - | - | €0 | €0 | €0 | €0 | - |
| Furniture and vehicles24 | - | - | - | €63,249 | €48,584 | €85,985 | €74,002 | €47,405 | ▼ 35.9% |
| Other tangible fixed assets26 | - | - | - | - | €0 | €12,703 | €11,292 | €9,880 | ▼ 12.5% |
| Financial fixed assets28 | €3,540 | €3,540 | €3,540 | €3,540 | €3,540 | €3,540 | €3,540 | €3,540 | = |
| Current assets29/58 | €188,117 | €194,883 | €201,604 | €189,381 | €200,419 | €213,892 | €238,454 | €282,029 | ▲ 18.3% |
| Stocks and contracts in progress3 | €186,691 | €192,941 | €196,766 | €187,001 | €198,001 | €211,000 | €235,150 | €278,575 | ▲ 18.5% |
| Stocks30/36 | - | - | - | €187,001 | €198,001 | €211,000 | €235,150 | €278,575 | ▲ 18.5% |
| Amounts receivable within one year40/41 | €1 | €1,942 | - | - | - | €8 | - | €5 | - |
| Other amounts receivable41 | - | - | - | - | - | €8 | - | €5 | - |
| Cash at bank and in hand54/58 | - | - | €4,838 | - | €0 | €0 | €0 | €0 | - |
| Deferred charges and accrued income490/1 | - | - | - | €2,380 | €2,418 | €2,885 | €3,304 | €3,449 | ▲ 4.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €291,748 | €296,706 | €285,668 | €310,767 | €294,377 | €346,358 | €346,447 | €350,932 | ▲ 1.3% |
| Equity10/15 | €19,125 | €23,639 | €28,997 | €36,943 | €7,521 | €2,824 | -€11,370 | -€10,667 | ▲ 6.2% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €50,519 | €50,519 | €50,519 | €50,519 | €50,519 | €50,519 | €50,519 | €50,519 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €48,659 | €48,659 | €50,519 | €50,519 | €50,519 | = |
| Profit (loss) carried forward14 | -€49,994 | -€45,480 | -€40,122 | -€32,176 | -€61,598 | -€66,295 | -€80,489 | -€79,786 | ▲ 0.9% |
| Amounts payable17/49 | €272,623 | €273,067 | €256,671 | €273,824 | €286,856 | €343,534 | €357,817 | €361,599 | ▲ 1.1% |
| Amounts payable after more than one year17 | €53,782 | €46,249 | €25,424 | €51,379 | €30,247 | €53,366 | €30,942 | €13,055 | ▼ 57.8% |
| Financial debts170/4 | - | - | - | €51,379 | €30,247 | €53,366 | €30,942 | €13,055 | ▼ 57.8% |
| Amounts payable within one year42/48 | €218,841 | €226,818 | €231,247 | €222,445 | €256,609 | €290,168 | €326,875 | €348,544 | ▲ 6.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €17,600 | €17,968 | €22,655 | €21,917 | €18,704 | ▼ 14.7% |
| Financial debts43 | - | - | - | €26,742 | €15,831 | €13,722 | €26,464 | €21,085 | ▼ 20.3% |
| Credit institutions430/8 | - | - | - | €26,742 | €15,831 | €13,722 | €26,464 | €21,085 | ▼ 20.3% |
| Trade debts44 | €38,402 | €21,047 | €17,404 | €12,922 | €25,767 | €23,470 | €27,834 | €12,532 | ▼ 55.0% |
| Suppliers440/4 | - | - | - | €12,922 | €25,767 | €23,470 | €27,834 | €12,532 | ▼ 55.0% |
| Taxes, remuneration and social security45 | - | - | - | €14,805 | €19,518 | €22,159 | €10,470 | €11,095 | ▲ 6.0% |
| Taxes450/3 | - | - | - | €14,805 | €19,518 | €22,159 | €10,470 | €11,095 | ▲ 6.0% |
| Other amounts payable47/48 | - | - | - | €150,376 | €177,525 | €208,162 | €240,191 | €285,127 | ▲ 18.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€21,611 | €4,514 | €5,358 | €7,946 | -€29,422 | -€4,697 | -€14,195 | €703 | - |
| + Depreciation and write-downs630 | €26,594 | €19,329 | €17,759 | €19,886 | €27,429 | €38,527 | €37,333 | €39,089 | ▲ 4.7% |
| Operating cash flow (approximation) | €4,983 | €23,843 | €23,117 | €27,832 | -€1,993 | €33,831 | €23,138 | €39,792 | ▲ 72.0% |
| Investment in fixed assets (approximation) | - | -€17,521 | €0 | -€57,208 | -€0 | -€77,035 | -€12,859 | €0 | - |
| Change in cash | - | - | - | - | - | €0 | €0 | €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, 1,449 companies had the same profile as SENSO has now. Two years later, 92.2% were still going and 2.5% had gone bankrupt.
- Micro
- 20 years or older
- negative equity
- a profit under 5% of the balance sheet
92.2%
was still going
4.8%
stopped otherwise
2.5%
went bankrupt
Another 0.6% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SENSO itself: 1.4% 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 1,449 companies, not a prediction for SENSO. 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 36 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 10-06-2026 | 2026-00154337 | |
| 31-12-2024 | micro format | 16-09-2025 | 2025-00493817 | |
| 31-12-2023 | micro format | 21-08-2024 | 2024-00361133 | |
| 31-12-2022 | micro format | 08-08-2023 | 2023-00321789 | |
| 31-12-2021 | micro format | 25-07-2022 | 2022-20217351 | |
| 31-12-2020 | micro format | 11-08-2021 | 2021-48400355 | |
| 31-12-2019 | micro format | 24-07-2020 | 2020-33700053 | |
| 31-12-2018 | micro format | 12-08-2019 | 2019-45500221 | |
| 31-12-2017 | micro format | 25-07-2018 | 2018-38000093 | |
| 31-12-2016 | micro format | 27-07-2017 | 2017-37100434 |