Simplycure
ActiveFinancials · financial year 2025, abbreviated format
2025 annual accounts filed 11 days after the deadline Filed on 11 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00395387.
Annual accounts 2025 filed on 11-08-2026 at the NBB all 10 filings
Turnover
≈ €2.6m
Estimated: probably between €1.5m and €4.2m
EBIT margin
Not included in this filing
Net result
-€50,744▲ 55.5%
2024 · -€113,943
Working capital
€1.8m
2024 · -€142,297
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€48,237
2025
20182025
Net result
-€50,744
▲ 55.5%
2025
lowest quarter of the sector
20182025
Equity
€2.2m
2025
highest quarter of the sector
20182025
Total assets
€3.2m
▲ 311%
2025
highest quarter of the sector
20182025
Debt
€1.1m
▲ 18.5%
2025
20182025
Working capital
€1.8m
2025
highest quarter of the sector
20182025
Solvency
67.0%
▲ 81.4pp
2025
highest quarter of the sector
20182025
Current ratio
2.94
▲ 2.16
2025
highest quarter of the sector
20182025
Return on assets (ROA)
-1.6%
▲ 12.9pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
6.6
▲ 560%
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-€0.005m--€0.03m▼ 502%-€0.4m▼ 1,397%-€0.5m▼ 14.1%-€0.6m▼ 15.7%€0.1m-€0.07m€0.05m
Net result-€0.004m--€0.03m▼ 714%-€0.4mbelow the sector's middle half▼ 1,367%-€0.5mbelow the sector's middle half▼ 13.0%-€0.6mbelow the sector's middle half▼ 15.9%€0.08mwithin the sector's middle half-€0.1mbelow the sector's middle half-€0.05mbelow the sector's middle half▲ 55.5%
Equity€0.005m--€0.02m€0.2mabove the sector's middle half-€0.3mbelow the sector's middle half-€0.2mbelow the sector's middle half▲ 11.2%€271below the sector's middle half-€0.1mbelow the sector's middle half€2.2mabove the sector's middle half
Total assets€0.01m-€0.07m▲ 355%€0.5mabove the sector's middle half▲ 716%€0.3mwithin the sector's middle half▼ 49.2%€0.3mwithin the sector's middle half▲ 8.9%€0.9mwithin the sector's middle half▲ 203%€0.8mwithin the sector's middle half▼ 11.4%€3.2mabove the sector's middle half▲ 311%
Debt€0.009m-€0.09m▲ 895%€0.3m▲ 227%€0.5m▲ 79.0%€0.5m▼ 0.8%€0.9m▲ 71.2%€0.9m▲ 1.3%€1.1m▲ 18.5%
Working capital€0.003m--€0.001m€0.3mabove the sector's middle half€0.06mwithin the sector's middle half▼ 76.7%€0.09mabove the sector's middle half▲ 46.9%-€0.07mbelow the sector's middle half-€0.1mbelow the sector's middle half▼ 95.7%€1.8mabove the sector's middle half
Solvency37.1%--37.5%▼ 74.6pp44.9%within the sector's middle half▲ 82.4pp-94.1%below the sector's middle half▼ 139.0pp-76.8%below the sector's middle half▲ 17.3pp0.0%below the sector's middle half▲ 76.8pp-14.4%below the sector's middle half▼ 14.4pp67.0%above the sector's middle half▲ 81.4pp
Current ratio1.38-0.99▼ 0.401.95within the sector's middle half▲ 0.961.30within the sector's middle half▼ 0.651.44within the sector's middle half▲ 0.150.88below the sector's middle half▼ 0.560.78below the sector's middle half▼ 0.112.94above the sector's middle half▲ 2.16
Return on assets (ROA)-25.6%--45.7%▼ 20.1pp-82.1%below the sector's middle half▼ 36.4pp-182.4%below the sector's middle half▼ 100.3pp-194.1%below the sector's middle half▼ 11.7pp8.6%within the sector's middle half▲ 202.6pp-14.4%below the sector's middle half▼ 23.0pp-1.6%below the sector's middle half▲ 12.9pp
Staff (FTE)3.2above the sector's middle half5.1▲ 59.4%5within the sector's middle half1below the sector's middle half▼ 80.0%6.6within the sector's middle half▲ 560%
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 €48,237, after a loss of €70,246 in 2024.
Large changes and their cause
- 2025 Staff (FTE) +560% on 2024. The accounts now follow the abbreviated format, last year the full format.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.2m
Fixed assets
€466,626 ▲ 60.1%
Current assets
€2.8m ▲ 458%
Equity and liabilities €3.2m
Equity
€2.2m
Debt
€1.1m
Debt's share of the balance-sheet total is 33.0%.
Key figures and ratios
EBITDA
€125,339▲
2024 · €2,294
Cash flow
€26,359▲
2024 · -€41,404
Quick ratio
2.30▲
2024 · 0.23
Debt to equity
0.49
ROE
-2.3%
Interest coverage
1.27▲
2024 · 0.05
Debt ≤ 1 year
€945,233▲
2024 · €640,542
Debt > 1 year
€125,001▼
2024 · €262,909
Staff costs
€265,416▲
2024 · €120,969
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 |
|---|---|
| Employees at the balance-sheet date | 3 |
| full-time | 3 |
| in full-time equivalents | 3 |
| Average over the year, in full-time equivalents | 5.1 |
| On a permanent contract | 2 |
| Joined | 11 |
| Left | 12 |
Source: social balance sheet in the 2021 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,980 | €5,133 | €962 | €3,064 | €20,394 |
| Intangible fixed assets | - | - | €329,809 | €25,236 | €223,269 |
| Financial fixed assets | €3,200 | - | - | - | €8,530 |
| Depreciation and write-downs of the year | €3,826 | €4,473 | €7,059 | €72,539 | €77,102 |
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 | - | - | - | €134,514 | €206,376 | €149,136 | €120,969 | €265,416 | ▲ 119% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,250 | €1,633 | €2,373 | €3,826 | €4,473 | €7,059 | €72,539 | €77,102 | ▲ 6.3% |
| Other operating charges640/8 | - | - | - | €2,298 | €1,880 | €3,807 | €1,148 | €1,939 | ▲ 68.9% |
| Non-recurring operating charges66A | - | - | - | €90 | - | - | - | - | - |
| Gross operating margin9900 | -€3,434 | -€19,821 | -€353,832 | -€340,469 | -€344,041 | €262,066 | €124,411 | €392,694 | ▲ 216% |
| Operating profit (loss)9901 | -€4,684 | -€28,177 | -€421,770 | -€481,197 | -€556,770 | €102,064 | -€70,246 | €48,237 | - |
| Financial income75/76B | - | - | - | €521 | €10,000 | €0 | - | - | - |
| Recurring financial income75 | €1,500 | €190 | - | €521 | €10,000 | €0 | - | - | - |
| Financial charges65/66B | - | - | - | €12,589 | €24,833 | €25,775 | €43,663 | €98,980 | ▲ 127% |
| Recurring financial charges65 | €474 | €1,786 | €10,405 | €10,845 | €24,833 | €25,775 | €43,663 | €98,980 | ▲ 127% |
| Non-recurring financial charges66B | - | - | - | €1,744 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€3,658 | -€29,772 | -€436,742 | -€493,266 | -€571,604 | €76,289 | -€113,909 | -€50,744 | ▲ 55.5% |
| Income taxes67/77 | - | - | - | €38 | - | - | €34 | - | - |
| Profit (loss) for the period9904 | -€3,658 | -€29,772 | -€436,742 | -€493,304 | -€571,604 | €76,289 | -€113,943 | -€50,744 | ▲ 55.5% |
| Profit (loss) for the period to be appropriated9905 | -€3,658 | -€29,772 | -€436,742 | -€493,304 | -€571,604 | €76,289 | -€113,943 | -€50,744 | ▲ 55.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.01m | €0.07m | €0.5m | €0.3m | €0.3m | €0.9m | €0.8m | €3.2m | ▲ 311% |
| Fixed assets21/28 | €0.002m | €0.001m | €0.01m | €0.01m | €0.01m | €0.3m | €0.3m | €0.5m | ▲ 60.1% |
| Intangible fixed assets21 | €0.001m | €0.001m | €0.005m | €0.003m | €0.001m | €0.3m | €0.3m | €0.4m | ▲ 53.6% |
| Tangible fixed assets22/27 | - | - | €0.004m | €0.005m | €0.007m | €0.005m | €0.005m | €0.02m | ▲ 286% |
| Furniture and vehicles24 | - | - | - | €0.003m | €0.005m | €0.003m | €0.004m | €0.02m | ▲ 391% |
| Other tangible fixed assets26 | - | - | - | €0.002m | €0.002m | €0.002m | €0.001m | €0.001m | ▼ 14.7% |
| Financial fixed assets28 | €0.001m | €0.001m | €0.001m | €0.004m | €0.004m | €0.004m | €0.004m | €0.01m | ▲ 225% |
| Current assets29/58 | €0.01m | €0.06m | €0.5m | €0.3m | €0.3m | €0.6m | €0.5m | €2.8m | ▲ 458% |
| Stocks and contracts in progress3 | - | €0.01m | €0.09m | €0.06m | €0.1m | €0.2m | €0.4m | €0.6m | ▲ 72.5% |
| Stocks30/36 | - | - | - | €0.06m | €0.1m | €0.2m | €0.4m | €0.6m | ▲ 72.5% |
| Amounts receivable within one year40/41 | €0.006m | €0.03m | €0.2m | €0.08m | €0.02m | €0.4m | €0.08m | €0.4m | ▲ 424% |
| Trade receivables40 | - | - | - | €0.07m | - | €0.3m | €0.07m | €0.4m | ▲ 470% |
| Other amounts receivable41 | - | - | - | €0.02m | €0.02m | €0.02m | €0.008m | €0.01m | ▲ 30.8% |
| Current investments50/53 | - | - | - | - | - | - | - | €1.5m | - |
| Cash at bank and in hand54/58 | €0.006m | €0.03m | €0.2m | €0.1m | €0.1m | €0.01m | €0.07m | €0.3m | ▲ 284% |
| Deferred charges and accrued income490/1 | - | - | - | €0.002m | - | €0.001m | €82 | €75 | ▼ 8.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.01m | €0.07m | €0.5m | €0.3m | €0.3m | €0.9m | €0.8m | €3.2m | ▲ 311% |
| Equity10/15 | €0.005m | -€0.02m | €0.2m | -€0.3m | -€0.2m | €271 | -€0.1m | €2.2m | - |
| Contributions10/11 | €0.02m | €0.02m | - | €0.7m | €1.3m | €1.5m | €1.5m | €3.8m | ▲ 159% |
| Profit (loss) carried forward14 | -€0.01m | -€0.04m | -€0.5m | -€1.0m | -€1.5m | -€1.5m | -€1.6m | -€1.6m | ▼ 3.2% |
| Amounts payable17/49 | €0.009m | €0.09m | €0.3m | €0.5m | €0.5m | €0.9m | €0.9m | €1.1m | ▲ 18.5% |
| Amounts payable after more than one year17 | - | €0.03m | €0.03m | €0.3m | €0.3m | €0.3m | €0.3m | €0.1m | ▼ 52.5% |
| Financial debts170/4 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.1m | ▼ 52.5% |
| Amounts payable within one year42/48 | €0.009m | €0.06m | €0.3m | €0.2m | €0.2m | €0.6m | €0.6m | €0.9m | ▲ 47.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | €0.06m | €0.06m | €0.1m | ▲ 57.7% |
| Financial debts43 | - | - | - | - | €0.1m | €0.1m | €0.3m | - | - |
| Credit institutions430/8 | - | - | - | - | €0.1m | €0.1m | €0.3m | - | - |
| Trade debts44 | €0.005m | €0.03m | €0.2m | €0.2m | - | €0.4m | €0.3m | €0.8m | ▲ 196% |
| Suppliers440/4 | - | - | - | €0.2m | - | €0.4m | €0.3m | €0.8m | ▲ 196% |
| Advances received on contracts in progress46 | - | - | - | - | €0.04m | - | - | €0.001m | - |
| Taxes, remuneration and social security45 | - | - | - | €0.005m | €0.02m | €0.04m | €0.04m | €0.06m | ▲ 57.9% |
| Taxes450/3 | - | - | - | €0.002m | €440 | €0.009m | €0.02m | €0.05m | ▲ 136% |
| Remuneration and social security454/9 | - | - | - | €0.003m | €0.02m | €0.03m | €0.02m | €0.01m | ▼ 38.0% |
| Other amounts payable47/48 | - | - | - | €0.04m | €0.04m | €0.03m | €0.03m | €0.03m | ▼ 18.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,658 | -€29,772 | -€436,742 | -€493,304 | -€571,604 | €76,289 | -€113,943 | -€50,744 | ▲ 55.5% |
| + Depreciation and write-downs630 | €1,250 | €1,633 | €2,373 | €3,826 | €4,473 | €7,059 | €72,539 | €77,102 | ▲ 6.3% |
| Operating cash flow (approximation) | -€2,408 | -€28,139 | -€434,369 | -€489,478 | -€567,130 | €83,348 | -€41,404 | €26,359 | - |
| Investment in fixed assets (approximation) | - | -€1,150 | -€11,065 | -€5,180 | -€5,133 | -€330,771 | -€28,300 | -€252,194 | ▼ 791% |
| Change in cash | - | €20,472 | €205,882 | -€113,742 | €20,690 | -€125,363 | €58,864 | €206,652 | ▲ 251% |
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, 3,440 companies had the same profile as Simplycure has now. Two years later, 90.0% were still going and 2.3% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a small loss
90.0%
was still going
7.4%
stopped otherwise
2.3%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Simplycure itself: 1.2% 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 3,440 companies, not a prediction for Simplycure. 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 (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 11-08-2026 | 2026-00395387 | |
| 31-12-2024 | full format | 19-09-2025 | 2025-00498187 | |
| 31-12-2023 | full format | 29-08-2024 | 2024-00417140 | |
| 31-12-2022 | micro format | 22-08-2023 | 2023-00350779 | |
| 31-12-2021 | micro format | 12-10-2022 | 2022-20460803 | |
| 31-12-2020 | micro format | 29-11-2021 | 2021-78700260 | |
| 31-12-2019 | micro format | 01-10-2020 | 2020-57800065 | |
| 31-12-2018 | micro format | 26-08-2019 | 2019-50600272 | |
| 31-12-2017 | micro format | 27-08-2018 | 2018-50300538 | |
| 31-12-2016 | micro format | 04-08-2017 | 2017-41100017 |