Skybedd
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 26-01-2026 PDF all 4 filings
Turnover
€271,482
EBIT margin
6.4%
Net result
€1,293▲ 22×
2024 · €58
Working capital
-€12,972▲ 81.8%
2024 · -€71,083
Multi-year overview
2022 to 2025, 4 financial yearsTurnover
no figure
2025
20222025
Operating result
-€5,278
▼ 389%
2025
20222025
Net result
€1,293
▲ 22×
2025
middle half of the sector
20222025
EBIT margin
no figure
2025
20222025
Equity
€29,127
▲ 4.6%
2025
middle half of the sector
20222025
Total assets
€322,980
▲ 7.8%
2025
middle half of the sector
20222025
Debt
€293,853
▲ 8.1%
2025
20222025
Working capital
-€12,972
▲ 81.8%
2025
lowest quarter of the sector
20222025
Solvency
9.0%
▼ 0.3pp
2025
middle half of the sector
20222025
Current ratio
0.95
▲ 0.25
2025
middle half of the sector
20222025
Return on assets (ROA)
0.4%
▲ 0.4pp
2025
middle half of the sector
20222025
Staff (FTE)
no figure
2025
20222025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Turnover€271,482-
Operating result€17,403-€14,789▼ 15.0%-€1,079-€5,278▼ 389%
Net result€12,977within the sector's middle half-€11,800within the sector's middle half▼ 9.1%€58within the sector's middle half▼ 99.5%€1,293within the sector's middle half▲ 22×
EBIT margin6.4%-
Equity€15,977within the sector's middle half-€27,777within the sector's middle half▲ 73.9%€27,835within the sector's middle half▲ 0.2%€29,127within the sector's middle half▲ 4.6%
Total assets€118,274within the sector's middle half-€249,749within the sector's middle half▲ 111%€299,670within the sector's middle half▲ 20.0%€322,980within the sector's middle half▲ 7.8%
Debt€102,297-€221,972▲ 117%€271,835▲ 22.5%€293,853▲ 8.1%
Working capital-€34,131below the sector's middle half--€73,651below the sector's middle half▼ 116%-€71,083below the sector's middle half▲ 3.5%-€12,972below the sector's middle half▲ 81.8%
Solvency13.5%within the sector's middle half-11.1%within the sector's middle half▼ 2.4pp9.3%within the sector's middle half▼ 1.8pp9.0%within the sector's middle half▼ 0.3pp
Current ratio0.67below the sector's middle half-0.65below the sector's middle half▼ 0.010.70below the sector's middle half▲ 0.040.95within the sector's middle half▲ 0.25
Return on assets (ROA)11.0%within the sector's middle half-4.7%within the sector's middle half▼ 6.2pp0.0%within the sector's middle half▼ 4.7pp0.4%within the sector's middle half▲ 0.4pp
Staff (FTE)2-
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 loss of €5,278, larger than the loss of €1,079 in 2024. It is the lowest result since 2022.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €322,980
Fixed assets
€65,741 ▼ 51.4%
Current assets
€257,239 ▲ 56.6%
Equity and liabilities €322,980
Equity
€29,127 ▲ 4.6%
Debt
€293,853 ▲ 8.1%
Debt's share of the balance-sheet total rises from 90.7% to 91.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€26,357▼
2024 · €29,733
Cash flow
€32,928▲
2024 · €30,870
Quick ratio
0.53▲
2024 · 0.10
Debt to equity
10.09▲
2024 · 9.77
ROE
4.4%▲
2024 · 0.2%
Interest coverage
11.87▼
2024 · 12.17
Debt ≤ 1 year
€270,211▲
2024 · €235,377
Debt > 1 year
€23,642▼
2024 · €36,458
Income taxes
€1,377▼
2024 · €1,631
Staff costs
€154,523▲
2024 · €115,660
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-06-2022 |
|---|---|
| Employees at the balance-sheet date | 3 |
| full-time | 1 |
| part-time | 2 |
| in full-time equivalents | 2 |
| Average over the year, in full-time equivalents | 2 |
| On a permanent contract | 2 |
| Joined | 3 |
| Left | 0 |
Source: social balance sheet in the 2022 annual accounts
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €2,000 | €26,205 | €16,000 | €2,000 |
| Intangible fixed assets | €60,000 | €50,000 | €40,000 | - |
| Financial fixed assets | €207 | - | - | - |
| Depreciation and write-downs of the year | €13,339 | €16,125 | €30,812 | €31,635 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2024 · 1 entry · €2,000 awarded · €2,000 paidSchemes
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Turnover70 | €271,482 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €191,436 | - | - | - | - |
| Remuneration, social security and pensions62 | €54,186 | €61,929 | €115,660 | €154,523 | ▲ 33.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,339 | €16,125 | €30,812 | €31,635 | ▲ 2.7% |
| Other operating charges640/8 | €462 | €403 | €387 | €2,213 | ▲ 472% |
| Gross operating margin9900 | €85,389 | €93,245 | €145,780 | €183,094 | ▲ 25.6% |
| Operating profit (loss)9901 | €17,403 | €14,789 | -€1,079 | -€5,278 | ▼ 389% |
| Financial income75/76B | - | €1,198 | €5,210 | €10,169 | ▲ 95.2% |
| Recurring financial income75 | - | €1,198 | €5,210 | €10,169 | ▲ 95.2% |
| Financial charges65/66B | €100 | €798 | €2,443 | €2,220 | ▼ 9.1% |
| Recurring financial charges65 | €100 | €798 | €2,443 | €2,220 | ▼ 9.1% |
| Profit (loss) for the period before taxes9903 | €17,303 | €15,189 | €1,689 | €2,670 | ▲ 58.1% |
| Income taxes67/77 | €4,326 | €3,389 | €1,631 | €1,377 | ▼ 15.5% |
| Profit (loss) for the period9904 | €12,977 | €11,800 | €58 | €1,293 | ▲ 22× |
| Profit (loss) for the period to be appropriated9905 | €12,977 | €11,800 | €58 | €1,293 | ▲ 22× |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €118,274 | €249,749 | €299,670 | €322,980 | ▲ 7.8% |
| Fixed assets21/28 | €50,108 | €110,188 | €135,377 | €65,741 | ▼ 51.4% |
| Intangible fixed assets21 | €48,000 | €84,000 | €102,000 | €40,000 | ▼ 60.8% |
| Tangible fixed assets22/27 | €1,901 | €25,981 | €33,169 | €25,534 | ▼ 23.0% |
| Furniture and vehicles24 | €1,901 | €25,981 | €33,169 | €25,534 | ▼ 23.0% |
| Financial fixed assets28 | €207 | €207 | €207 | €207 | = |
| Current assets29/58 | €68,166 | €139,561 | €164,293 | €257,239 | ▲ 56.6% |
| Stocks and contracts in progress3 | €47,826 | €59,000 | €139,820 | €114,500 | ▼ 18.1% |
| Stocks30/36 | €47,826 | €59,000 | €139,820 | €114,500 | ▼ 18.1% |
| Amounts receivable within one year40/41 | €1,555 | €12 | €21 | €62,554 | ▲ 2,914× |
| Trade receivables40 | €1,555 | - | - | €62,554 | - |
| Other amounts receivable41 | - | €12 | €21 | - | - |
| Cash at bank and in hand54/58 | €18,785 | €80,549 | €24,452 | €77,988 | ▲ 219% |
| Deferred charges and accrued income490/1 | - | - | - | €2,196 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €118,274 | €249,749 | €299,670 | €322,980 | ▲ 7.8% |
| Equity10/15 | €15,977 | €27,777 | €27,835 | €29,127 | ▲ 4.6% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Profit (loss) carried forward14 | €12,977 | €24,777 | €24,835 | €26,127 | ▲ 5.2% |
| Amounts payable17/49 | €102,297 | €221,972 | €271,835 | €293,853 | ▲ 8.1% |
| Amounts payable after more than one year17 | - | €7,761 | €36,458 | €23,642 | ▼ 35.2% |
| Financial debts170/4 | - | €7,761 | €36,458 | €23,642 | ▼ 35.2% |
| Amounts payable within one year42/48 | €102,297 | €213,211 | €235,377 | €270,211 | ▲ 14.8% |
| Current portion of amounts payable after more than one year42 | - | €9,859 | €21,886 | €6,309 | ▼ 71.2% |
| Trade debts44 | €19,791 | €50,393 | €48,743 | €102,669 | ▲ 111% |
| Suppliers440/4 | €16,769 | €47,371 | €2,918 | €47,669 | ▲ 16× |
| Bills of exchange payable441 | €3,022 | €3,022 | €45,825 | €55,000 | ▲ 20.0% |
| Taxes, remuneration and social security45 | €14,401 | €23,887 | €33,849 | €60,548 | ▲ 78.9% |
| Taxes450/3 | €9,232 | €13,736 | €17,844 | €33,854 | ▲ 89.7% |
| Remuneration and social security454/9 | €5,168 | €10,151 | €16,005 | €26,693 | ▲ 66.8% |
| Other amounts payable47/48 | €68,106 | €129,073 | €130,898 | €100,685 | ▼ 23.1% |
| Accrued charges and deferred income492/3 | - | €1,000 | - | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €12,977 | €11,800 | €58 | €1,293 | ▲ 22× |
| + Depreciation and write-downs630 | €13,339 | €16,125 | €30,812 | €31,635 | ▲ 2.7% |
| Operating cash flow (approximation) | €26,316 | €27,924 | €30,870 | €32,928 | ▲ 6.7% |
| Investment in fixed assets (approximation) | - | -€76,205 | -€56,000 | €38,000 | - |
| Change in cash | - | €61,764 | -€56,097 | €53,537 | - |
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, 1,251 companies had the same profile as Skybedd has now. Two years later, 94.4% were still going and 2.6% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency under 10%
- a profit under 5% of the balance sheet
94.4%
was still going
2.7%
stopped otherwise
2.6%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Skybedd itself: 2.1% 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 1,251 companies, not a prediction for Skybedd. 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.