Skye
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 15-12-2025 PDF all 18 filings
Equity
€10.8m▲ 4.3%
2024 · €10.3m
Total assets
€12.0m▲ 5.8%
2024 · €11.3m
Net result
€1.0m
2024 · -€14,929
Working capital
€7.5m▲ 6.7%
2024 · €7.1m
In the rankings
#8 company by equity in Oostkamp, Real estate sector
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€339,446
▼ 5.2%
2025
20192025
Net result
€1.0m
2025
highest quarter of the sector
20192025
Equity
€10.8m
▲ 4.3%
2025
highest quarter of the sector
20192025
Total assets
€12.0m
▲ 5.8%
2025
highest quarter of the sector
20192025
Debt
€1.2m
▲ 21.3%
2025
20192025
Working capital
€7.5m
▲ 6.7%
2025
highest quarter of the sector
20192025
Solvency
89.7%
▼ 1.3pp
2025
highest quarter of the sector
20192025
Current ratio
11.19
▼ 5.66
2025
highest quarter of the sector
20192025
Return on assets (ROA)
8.6%
▲ 8.7pp
2025
middle half of the sector
20192025
Staff (FTE)
no figure
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.2m-€0.2m▲ 30.9%€0.1m▼ 61.2%-€1.0m-€0.3m▲ 67.1%-€0.3m▲ 2.8%-€0.3m▼ 5.2%
Net result€0.6m-€0.6mabove the sector's middle half▼ 1.9%€0.06mwithin the sector's middle half▼ 90.3%€9.8mabove the sector's middle half▲ 176×€0.006mwithin the sector's middle half▼ 99.9%-€0.01mbelow the sector's middle half€1.0mabove the sector's middle half
Equity€2.5m-€2.8mabove the sector's middle half▲ 12.8%€2.9mabove the sector's middle half▲ 2.0%€11.0mabove the sector's middle half▲ 279%€10.7mabove the sector's middle half▼ 3.0%€10.3mabove the sector's middle half▼ 3.2%€10.8mabove the sector's middle half▲ 4.3%
Total assets€4.2m-€4.5mabove the sector's middle half▲ 7.4%€4.8mabove the sector's middle half▲ 6.7%€13.1mabove the sector's middle half▲ 172%€11.9mabove the sector's middle half▼ 9.2%€11.3mabove the sector's middle half▼ 5.0%€12.0mabove the sector's middle half▲ 5.8%
Debt€1.7m-€1.7m▼ 0.6%€1.9m▲ 14.9%€2.2m▲ 11.3%€1.3m▼ 41.1%€1.0m▼ 19.8%€1.2m▲ 21.3%
Working capital€0.08m-€0.2mwithin the sector's middle half▲ 83.2%-€0.7mbelow the sector's middle half€9.0mabove the sector's middle half€7.7mabove the sector's middle half▼ 14.7%€7.1mabove the sector's middle half▼ 8.6%€7.5mabove the sector's middle half▲ 6.7%
Solvency59.8%-62.8%above the sector's middle half▲ 3.0pp60.0%within the sector's middle half▼ 2.8pp83.6%above the sector's middle half▲ 23.6pp89.4%above the sector's middle half▲ 5.8pp91.0%above the sector's middle half▲ 1.7pp89.7%above the sector's middle half▼ 1.3pp
Current ratio1.15-1.22within the sector's middle half▲ 0.080.21below the sector's middle half▼ 1.017.67above the sector's middle half▲ 7.4614.55above the sector's middle half▲ 6.8816.85above the sector's middle half▲ 2.3011.19above the sector's middle half▼ 5.66
Return on assets (ROA)13.8%-12.6%above the sector's middle half▼ 1.2pp1.1%within the sector's middle half▼ 11.5pp74.4%above the sector's middle half▲ 73.2pp0.0%within the sector's middle half▼ 74.3pp-0.1%within the sector's middle half▼ 0.2pp8.6%within the sector's middle half▲ 8.7pp
Staff (FTE)0within the sector's middle half
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 €339,446, larger than the loss of €322,537 in 2024.
Large changes and their cause
- 2023 Net result -100% on 2022. The accounts now follow the abbreviated format, last year the micro format.
- 2022 Net result +17,500% on 2021. The accounts now follow the micro format, last year the abbreviated format.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €12.0m
Fixed assets
€3.7m ▼ 2.8%
Current assets
€8.3m ▲ 10.2%
Equity and liabilities €12.0m
Equity
€10.8m ▲ 4.3%
Debt
€1.2m ▲ 21.3%
Debt's share of the balance-sheet total rises from 9.0% to 10.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
-€119,944▼
2024 · -€119,229
Cash flow
€1.3m▲
2024 · €188,379
Debt to equity
0.11▲
2024 · 0.10
ROE
9.6%▲
2024 · -0.1%
Interest coverage
-7.24▼
2024 · over 100
Debt ≤ 1 year
€738,668▲
2024 · €445,030
Debt > 1 year
€466,897▼
2024 · €565,173
Income taxes
€112,353▲
2024 · €2,214
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Debts secured on the company's own assets | - | €793,699 | - | - |
| Mortgages, amount registered | - | - | €110,000 | €110,000 |
| Mortgage mandates | €1.9m | €1.9m | €1.9m | €1.9m |
| Carrying value of the mortgaged assets | €2.7m | €3.5m | €3.7m | €3.6m |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €543,556 | €1.1m | €397,284 | €95,707 |
| Intangible fixed assets | - | - | - | €14,715 |
| Depreciation and write-downs of the year | €142,713 | €146,729 | €203,308 | €219,502 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.1m | €0.1m | €0.2m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 8.0% |
| Other operating charges640/8 | - | - | - | €0.02m | €0.03m | €0.02m | €0.03m | ▲ 62.2% |
| Gross operating margin9900 | €0.3m | €0.3m | €0.3m | -€0.8m | -€0.2m | -€0.1m | -€0.09m | ▲ 10.7% |
| Operating profit (loss)9901 | €0.2m | €0.2m | €0.1m | -€1.0m | -€0.3m | -€0.3m | -€0.3m | ▼ 5.2% |
| Financial income75/76B | - | - | - | €11.7m | €0.1m | €0.3m | €1.5m | ▲ 385% |
| Recurring financial income75 | €0.5m | €0.4m | €0.002m | €0.09m | €0.1m | €0.2m | €0.3m | ▲ 54.6% |
| Non-recurring financial income76B | - | - | - | €11.6m | €0 | €0.1m | €1.2m | ▲ 951% |
| Financial charges65/66B | - | - | - | €0.3m | -€0.2m | -€407 | €0.02m | - |
| Recurring financial charges65 | €0.02m | €0.02m | €0.02m | €0.3m | -€0.2m | -€407 | €0.02m | - |
| Profit (loss) for the period before taxes9903 | €0.7m | €0.7m | €0.08m | €10.5m | €0.007m | -€0.01m | €1.1m | - |
| Transfer from deferred taxes780 | - | - | - | €0.001m | €0 | - | - | - |
| Income taxes67/77 | €0.07m | €0.1m | €0.02m | €0.7m | €0.001m | €0.002m | €0.1m | ▲ 51× |
| Profit (loss) for the period9904 | €0.6m | €0.6m | €0.06m | €9.8m | €0.006m | -€0.01m | €1.0m | - |
| Transfer from tax-exempt reserves789 | - | - | - | €0.003m | €0 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €0.6m | €0.6m | €0.06m | €9.8m | €0.006m | -€0.01m | €1.0m | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €4.2m | €4.5m | €4.8m | €13.1m | €11.9m | €11.3m | €12.0m | ▲ 5.8% |
| Fixed assets21/28 | €3.6m | €3.7m | €4.7m | €2.7m | €3.6m | €3.8m | €3.7m | ▼ 2.8% |
| Intangible fixed assets21 | - | - | - | - | - | - | €0.01m | - |
| Tangible fixed assets22/27 | €1.2m | €1.4m | €2.3m | €2.7m | €3.6m | €3.8m | €3.7m | ▼ 3.2% |
| Land and buildings22 | - | - | - | €2.7m | €3.5m | €3.7m | €3.6m | ▼ 2.6% |
| Plant, machinery and equipment23 | - | - | - | €0.003m | €0.002m | €0.003m | €0.006m | ▲ 85.9% |
| Furniture and vehicles24 | - | - | - | €0.03m | €0.1m | €0.1m | €0.1m | ▼ 19.6% |
| Other tangible fixed assets26 | - | - | - | €0.02m | €0.01m | €0.008m | €0.006m | ▼ 25.1% |
| Financial fixed assets28 | €2.3m | €2.3m | €2.3m | €0 | - | - | - | - |
| Current assets29/58 | €0.7m | €0.8m | €0.2m | €10.4m | €8.3m | €7.5m | €8.3m | ▲ 10.2% |
| Amounts receivable after more than one year29 | - | - | - | €2.8m | €2.6m | €2.4m | €2.2m | ▼ 8.3% |
| Other amounts receivable291 | - | - | - | €2.8m | €2.6m | €2.4m | €2.2m | ▼ 8.3% |
| Amounts receivable within one year40/41 | €0.001m | €0.06m | €0.08m | €0.3m | €0.3m | €0.3m | €0.2m | ▼ 37.5% |
| Trade receivables40 | - | - | - | €0.08m | €0.004m | €0.001m | €0.02m | ▲ 32× |
| Other amounts receivable41 | - | - | - | €0.2m | €0.3m | €0.3m | €0.2m | ▼ 42.2% |
| Current investments50/53 | - | - | - | €1.9m | €4.8m | €4.5m | €5.3m | ▲ 17.4% |
| Cash at bank and in hand54/58 | €0.7m | €0.8m | €0.1m | €5.4m | €0.5m | €0.2m | €0.5m | ▲ 213% |
| Deferred charges and accrued income490/1 | - | - | - | €0.05m | €0.06m | €0.08m | €0.06m | ▼ 21.5% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €4.2m | €4.5m | €4.8m | €13.1m | €11.9m | €11.3m | €12.0m | ▲ 5.8% |
| Equity10/15 | €2.5m | €2.8m | €2.9m | €11.0m | €10.7m | €10.3m | €10.8m | ▲ 4.3% |
| Contributions10/11 | €1.1m | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Contributions outside capital11 | - | - | - | €0 | - | - | - | - |
| Share premium1100/10 | - | - | - | €0 | - | - | - | - |
| Reserves13 | €1.4m | €1.8m | €1.8m | €10.9m | €10.6m | €10.3m | €10.7m | ▲ 4.3% |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Tax-exempt reserves132 | - | - | - | €396 | €396 | €396 | €396 | = |
| Distributable reserves133 | - | - | - | €10.9m | €10.6m | €10.2m | €10.7m | ▲ 4.3% |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | €0 | €0 | - |
| Provisions and deferred taxes16 | €0.004m | €0.002m | €0.001m | €0 | - | - | - | - |
| Deferred taxes168 | - | - | - | €0 | - | - | - | - |
| Amounts payable17/49 | €1.7m | €1.7m | €1.9m | €2.2m | €1.3m | €1.0m | €1.2m | ▲ 21.3% |
| Amounts payable after more than one year17 | €1.1m | €1.0m | €1.1m | €0.8m | €0.7m | €0.6m | €0.5m | ▼ 17.4% |
| Financial debts170/4 | - | - | - | €0.8m | €0.7m | €0.6m | €0.5m | ▼ 17.4% |
| Amounts payable within one year42/48 | €0.6m | €0.7m | €0.9m | €1.4m | €0.6m | €0.4m | €0.7m | ▲ 66.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 14.5% |
| Financial debts43 | - | - | - | €0 | - | - | - | - |
| Credit institutions430/8 | - | - | - | €0 | - | - | - | - |
| Trade debts44 | €0.02m | €0.03m | €0.06m | €0.04m | €0.1m | €0.001m | €0.003m | ▲ 111% |
| Suppliers440/4 | - | - | - | €0.04m | €0.1m | €0.001m | €0.003m | ▲ 111% |
| Advances received on contracts in progress46 | - | - | - | €0.05m | €0 | - | €0.002m | - |
| Taxes, remuneration and social security45 | - | - | - | €0.7m | €0 | - | €0.03m | - |
| Taxes450/3 | - | - | - | €0.7m | €0 | - | €0.03m | - |
| Other amounts payable47/48 | - | - | - | €0.5m | €0.3m | €0.3m | €0.6m | ▲ 82.9% |
| Accrued charges and deferred income492/3 | - | - | - | €0.002m | €0.02m | €0.007m | €0.03m | ▲ 289% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.6m | €0.6m | €0.06m | €9.8m | €0.006m | -€0.01m | €1.0m | - |
| + Depreciation and write-downs630 | €0.1m | €0.1m | €0.2m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 8.0% |
| Operating cash flow (approximation) | €0.7m | €0.7m | €0.2m | €9.9m | €0.2m | €0.2m | €1.3m | ▲ 565% |
| Investment in fixed assets (approximation) | - | -€0.2m | -€1.1m | €1.8m | -€1.1m | -€0.4m | -€0.1m | ▲ 72.2% |
| Change in cash | - | €0.1m | -€0.7m | €5.3m | -€4.8m | -€0.4m | €0.3m | - |
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, 546 companies had the same profile as Skye has now. Two years later, 95.2% were still going and 0.4% had gone bankrupt.
- Medium-sized
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.2%
was still going
4.2%
stopped otherwise
0.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Skye itself: < 0.1% 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 546 companies, not a prediction for Skye. 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 18 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 15-12-2025 | 2025-00581181 | |
| 30-06-2024 | micro format | 02-01-2025 | 2025-00628535 | |
| 30-06-2023 | abbreviated format | 02-01-2024 | 2024-00540682 | |
| 30-06-2022 | micro format | 31-01-2023 | 2023-00012980 | |
| 30-06-2021 | abbreviated format | 20-01-2022 | 2022-01300179 | |
| 30-06-2020 | abbreviated format | 01-10-2020 | 2020-58100402 | |
| 30-06-2019 | abbreviated format | 15-01-2020 | 2020-01400255 | |
| 30-06-2018 | abbreviated format | 31-01-2019 | 2019-04300570 | |
| 30-06-2017 | abbreviated format | 21-12-2017 | 2017-73000252 | |
| 30-06-2016 | abbreviated format | 09-12-2016 | 2016-69800041 |