SEYLAN
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 2 days after the deadline Filed on 2 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00375515.
Annual accounts 2025 filed on 02-08-2026 at the NBB all 19 filings
Turnover
€70,072
EBIT margin
14.7%
Net result
€9,752▲ 7.9%
2024 · €9,034
Working capital
-€31,181▲ 23.8%
2024 · -€40,934
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€70,072
2025
20182025
Operating result
€10,285
▲ 13.8%
2025
20182025
Net result
€9,752
▲ 7.9%
2025
middle half of the sector
20182025
EBIT margin
14.7%
2025
20182025
Equity
-€31,156
▲ 23.8%
2025
lowest quarter of the sector
20182025
Total assets
€14,847
▲ 160%
2025
lowest quarter of the sector
20182025
Debt
€46,003
▼ 1.3%
2025
20182025
Working capital
-€31,181
▲ 23.8%
2025
middle half of the sector
20182025
Solvency
-209.9%
▲ 507.9pp
2025
lowest quarter of the sector
20182025
Current ratio
0.32
▲ 0.20
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
65.7%
▼ 92.8pp
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€70,072
Operating result-€4,094-€7,915€17,675▲ 123%€21,795▲ 23.3%€12,229▼ 43.9%€4,186▼ 65.8%€9,034▲ 116%€10,285▲ 13.8%
Net result-€4,094-€7,915€17,675above the sector's middle half▲ 123%€21,795within the sector's middle half▲ 23.3%€12,229within the sector's middle half▼ 43.9%€4,186within the sector's middle half▼ 65.8%€9,034within the sector's middle half▲ 116%€9,752within the sector's middle half▲ 7.9%
EBIT margin14.7%
Equity-€113,743--€105,828▲ 7.0%-€88,153below the sector's middle half▲ 16.7%-€66,358below the sector's middle half▲ 24.7%-€54,129below the sector's middle half▲ 18.4%-€49,943below the sector's middle half▲ 7.7%-€40,909below the sector's middle half▲ 18.1%-€31,156below the sector's middle half▲ 23.8%
Total assets€952-€2,714▲ 185%€4,889below the sector's middle half▲ 80.1%€22,719below the sector's middle half▲ 365%€2,968below the sector's middle half▼ 86.9%€8,589below the sector's middle half▲ 189%€5,700below the sector's middle half▼ 33.6%€14,847below the sector's middle half▲ 160%
Debt€114,695-€108,542▼ 5.4%€93,042▼ 14.3%€89,077▼ 4.3%€57,096▼ 35.9%€58,532▲ 2.5%€46,608▼ 20.4%€46,003▼ 1.3%
Working capital-€114,116--€107,653▲ 5.7%-€89,579below the sector's middle half▲ 16.8%-€67,383below the sector's middle half▲ 24.8%-€54,754below the sector's middle half▲ 18.7%-€50,169below the sector's middle half▲ 8.4%-€40,934below the sector's middle half▲ 18.4%-€31,181within the sector's middle half▲ 23.8%
Solvency-292.1%below the sector's middle half-581.5%below the sector's middle half-717.7%below the sector's middle half▼ 136.3pp-209.9%below the sector's middle half▲ 507.9pp
Current ratio0.24below the sector's middle half0.14below the sector's middle half0.12below the sector's middle half▼ 0.020.32below the sector's middle half▲ 0.20
Return on assets (ROA)95.9%above the sector's middle half48.7%above the sector's middle half158.5%above the sector's middle half▲ 109.8pp65.7%above the sector's middle half▼ 92.8pp
above
within
below
The sector band is the middle half of the companies in Food and beverage service activities (NACE 56). 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 14% higher than in 2024. It is the second rise in a row, after the fall in 2023.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €14,847
Fixed assets
€25 =
Current assets
€14,822 ▲ 161%
Equity and liabilities
Equity-€31,156
Debt€46,003
Equity is negative. Debt (€46,003) exceeds the balance-sheet total (€14,847).
Key figures and ratios
Debt ≤ 1 year
€46,003▼
2024 · €46,608
Customer credit
0 days
Supplier credit
0 days
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.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | - | - | - | €70,072 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | - | - | - | €59,174 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €449 | €548 | €400 | €400 | €400 | €400 | €201 | - | - |
| Other operating charges640/8 | - | - | - | €19,406 | €34,682 | €66,079 | €34,886 | €613 | ▼ 98.2% |
| Gross operating margin9900 | €28,026 | €41,772 | €40,371 | €41,602 | €47,311 | €70,665 | €44,121 | €10,898 | ▼ 75.3% |
| Operating profit (loss)9901 | -€4,094 | €7,915 | €17,675 | €21,795 | €12,229 | €4,186 | €9,034 | €10,285 | ▲ 13.8% |
| Financial charges65/66B | - | - | - | - | - | - | - | €533 | - |
| Recurring financial charges65 | - | - | - | - | - | - | - | €533 | - |
| Profit (loss) for the period before taxes9903 | -€4,094 | €7,915 | €17,675 | €21,795 | €12,229 | €4,186 | €9,034 | €9,752 | ▲ 7.9% |
| Profit (loss) for the period9904 | -€4,094 | €7,915 | €17,675 | €21,795 | €12,229 | €4,186 | €9,034 | €9,752 | ▲ 7.9% |
| Profit (loss) for the period to be appropriated9905 | -€4,094 | €7,915 | €17,675 | €21,795 | €12,229 | €4,186 | €9,034 | €9,752 | ▲ 7.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €952 | €2,714 | €4,889 | €22,719 | €2,968 | €8,589 | €5,700 | €14,847 | ▲ 160% |
| Fixed assets21/28 | €373 | €1,826 | €1,426 | €1,026 | €626 | €226 | €25 | €25 | = |
| Tangible fixed assets22/27 | €348 | €1,801 | €1,401 | €1,001 | €601 | €201 | - | - | - |
| Furniture and vehicles24 | - | - | - | €1,001 | €601 | €201 | - | - | - |
| Financial fixed assets28 | €25 | €25 | €25 | €25 | €25 | €25 | €25 | €25 | = |
| Current assets29/58 | €578 | €889 | €3,463 | €21,694 | €2,342 | €8,363 | €5,675 | €14,822 | ▲ 161% |
| Amounts receivable within one year40/41 | - | €308 | €957 | €19,906 | €888 | €546 | €731 | €39 | ▼ 94.7% |
| Trade receivables40 | - | - | - | €19,906 | - | - | €600 | - | - |
| Other amounts receivable41 | - | - | - | - | €888 | €546 | €131 | €39 | ▼ 70.6% |
| Cash at bank and in hand54/58 | €578 | €581 | €2,506 | €1,788 | €1,454 | €7,818 | €4,944 | €14,783 | ▲ 199% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €952 | €2,714 | €4,889 | €22,719 | €2,968 | €8,589 | €5,700 | €14,847 | ▲ 160% |
| Equity10/15 | -€113,743 | -€105,828 | -€88,153 | -€66,358 | -€54,129 | -€49,943 | -€40,909 | -€31,156 | ▲ 23.8% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | - | - | €18,600 | €18,600 | €18,600 | €18,600 | - | - |
| Issued capital100 | - | - | - | €18,600 | €18,600 | €18,600 | €18,600 | - | - |
| Profit (loss) carried forward14 | -€132,343 | -€124,428 | -€106,753 | -€84,958 | -€72,729 | -€68,543 | -€59,509 | -€49,756 | ▲ 16.4% |
| Amounts payable17/49 | €114,695 | €108,542 | €93,042 | €89,077 | €57,096 | €58,532 | €46,608 | €46,003 | ▼ 1.3% |
| Amounts payable within one year42/48 | €114,695 | €108,542 | €93,042 | €89,077 | €57,096 | €58,532 | €46,608 | €46,003 | ▼ 1.3% |
| Trade debts44 | €1,717 | - | - | €18,856 | €1,154 | €2,590 | €666 | €61 | ▼ 90.8% |
| Suppliers440/4 | - | - | - | €18,856 | €1,154 | €2,590 | €666 | €61 | ▼ 90.8% |
| Taxes, remuneration and social security45 | - | - | - | €179 | - | - | - | - | - |
| Taxes450/3 | - | - | - | €179 | - | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €70,042 | €55,942 | €55,942 | €45,942 | €45,942 | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,094 | €7,915 | €17,675 | €21,795 | €12,229 | €4,186 | €9,034 | €9,752 | ▲ 7.9% |
| + Depreciation and write-downs630 | €449 | €548 | €400 | €400 | €400 | €400 | €201 | - | - |
| Operating cash flow (approximation) | -€3,645 | €8,463 | €18,075 | €22,195 | €12,629 | €4,586 | €9,235 | €9,752 | ▲ 5.6% |
| Investment in fixed assets (approximation) | - | -€2,000 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €3 | €1,925 | -€719 | -€333 | €6,363 | -€2,874 | €9,840 | - |
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, 3,632 companies had the same profile as SEYLAN has now. Two years later, 91.8% were still going and 2.9% had gone bankrupt.
- Micro
- 10 to 20 years old
- negative equity
- a profit of 5% of the balance sheet or more
91.8%
was still going
4.8%
stopped otherwise
2.9%
went bankrupt
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SEYLAN itself: 0.6% 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 3,632 companies, not a prediction for SEYLAN. 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 19 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 02-08-2026 | 2026-00375515 | |
| 31-12-2024 | micro format | 26-08-2025 | 2025-00414020 | |
| 31-12-2023 | micro format | 02-08-2024 | 2024-00331222 | |
| 31-12-2022 | micro format | 24-08-2023 | 2023-00355081 | |
| 31-12-2021 | micro format | 28-08-2022 | 2022-20357119 | |
| 31-12-2020 | micro format | 30-08-2021 | 2021-57000062 | |
| 31-12-2019 | micro format | 22-09-2020 | 2020-54700151 | |
| 31-12-2018 | micro format | 22-08-2019 | 2019-49000137 | |
| 31-12-2017 | micro format | 09-08-2018 | 2018-44400447 | |
| 31-12-2016 | micro format | 29-08-2017 | 2017-53200334 |