Slimcube
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 27 days after the deadline Filed on 27 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00432051.
Annual accounts 2025 filed on 27-08-2026 at the NBB all 10 filings
Equity
-€10,032▼ 102%
2024 · -€4,975
Total assets
€57,539▲ 2.6%
2024 · €56,085
Net result
-€5,056▼ 11.5%
2024 · -€4,536
Working capital
-€5,735
2024 · €7,710
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€4,340
▼ 20.5%
2025
20182025
Net result
-€5,056
▼ 11.5%
2025
lowest quarter of the sector
20182025
Equity
-€10,032
▼ 102%
2025
lowest quarter of the sector
20182025
Total assets
€57,539
▲ 2.6%
2025
middle half of the sector
20182025
Debt
€67,571
▲ 10.7%
2025
20182025
Working capital
-€5,735
2025
middle half of the sector
20182025
Solvency
-17.4%
▼ 8.6pp
2025
lowest quarter of the sector
20182025
Current ratio
0.91
▼ 0.25
2025
middle half of the sector
20182025
Return on assets (ROA)
-8.8%
▼ 0.7pp
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€1,964--€2,332▼ 18.8%-€1,577▲ 32.4%€317-€3,868€11,844-€3,602-€4,340▼ 20.5%
Net result-€2,378--€2,519▼ 6.0%-€1,691within the sector's middle half▲ 32.9%€227within the sector's middle half-€4,760below the sector's middle half€10,658within the sector's middle half-€4,536below the sector's middle half-€5,056below the sector's middle half▼ 11.5%
Equity-€2,354--€4,874▼ 107%-€6,565below the sector's middle half▼ 34.7%-€6,337below the sector's middle half▲ 3.5%-€11,097below the sector's middle half▼ 75.1%-€439below the sector's middle half▲ 96.0%-€4,975below the sector's middle half▼ 1,032%-€10,032below the sector's middle half▼ 102%
Total assets€7,257-€1,775▼ 75.5%€323below the sector's middle half▼ 81.8%€8,108below the sector's middle half▲ 25×€31,200below the sector's middle half▲ 285%€56,811within the sector's middle half▲ 82.1%€56,085within the sector's middle half▼ 1.3%€57,539within the sector's middle half▲ 2.6%
Debt€9,611-€6,648▼ 30.8%€6,888▲ 3.6%€14,445▲ 110%€42,298▲ 193%€57,251▲ 35.4%€61,060▲ 6.7%€67,571▲ 10.7%
Working capital-€897--€4,874▼ 443%-€6,565within the sector's middle half▼ 34.7%-€11,014within the sector's middle half▼ 67.8%€14,563within the sector's middle half€20,368within the sector's middle half▲ 39.9%€7,710within the sector's middle half▼ 62.1%-€5,735within the sector's middle half
Solvency-32.4%--78.2%below the sector's middle half-35.6%below the sector's middle half▲ 42.6pp-0.8%below the sector's middle half▲ 34.8pp-8.9%below the sector's middle half▼ 8.1pp-17.4%below the sector's middle half▼ 8.6pp
Current ratio0.89-0.24below the sector's middle half2.07within the sector's middle half▲ 1.831.56within the sector's middle half▼ 0.511.16within the sector's middle half▼ 0.400.91within the sector's middle half▼ 0.25
Return on assets (ROA)-32.8%-2.8%within the sector's middle half-15.3%below the sector's middle half▼ 18.1pp18.8%above the sector's middle half▲ 34.0pp-8.1%below the sector's middle half▼ 26.8pp-8.8%below the sector's middle half▼ 0.7pp
above
within
below
The sector band is the middle half of the companies in Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles (NACE 95). 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 €4,340, larger than the loss of €3,602 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The micro format does not require them.
Key figures and ratios
Quick ratio
0.03▲
2024 · 0.01
Debt ≤ 1 year
€63,274▲
2024 · €48,374
Debt > 1 year
€4,297▼
2024 · €12,685
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.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €5,000 | - | - | - | - |
| Depreciation and write-downs of the year | €323 | €1,667 | - | - | - |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €6,490 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €323 | €1,667 | - | - | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | -€26,391 | - | - | - |
| Other operating charges640/8 | - | - | - | €27 | €134 | €150 | €175 | €248 | ▲ 41.6% |
| Gross operating margin9900 | -€1,667 | -€2,270 | -€1,515 | €668 | -€2,067 | -€14,398 | -€3,427 | -€4,092 | ▼ 19.4% |
| Operating profit (loss)9901 | -€1,964 | -€2,332 | -€1,577 | €317 | -€3,868 | €11,844 | -€3,602 | -€4,340 | ▼ 20.5% |
| Financial charges65/66B | - | - | - | €90 | €892 | €1,186 | €934 | €716 | ▼ 23.3% |
| Recurring financial charges65 | €414 | €188 | €114 | €90 | €892 | €1,186 | €934 | €716 | ▼ 23.3% |
| Profit (loss) for the period before taxes9903 | -€2,378 | -€2,519 | -€1,691 | €227 | -€4,760 | €10,658 | -€4,536 | -€5,056 | ▼ 11.5% |
| Profit (loss) for the period9904 | -€2,378 | -€2,519 | -€1,691 | €227 | -€4,760 | €10,658 | -€4,536 | -€5,056 | ▼ 11.5% |
| Profit (loss) for the period to be appropriated9905 | -€2,378 | -€2,519 | -€1,691 | €227 | -€4,760 | €10,658 | -€4,536 | -€5,056 | ▼ 11.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €7,257 | €1,775 | €323 | €8,108 | €31,200 | €56,811 | €56,085 | €57,539 | ▲ 2.6% |
| Fixed assets21/28 | - | - | - | €4,677 | €3,010 | - | - | - | - |
| Tangible fixed assets22/27 | - | - | - | €4,677 | €3,010 | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €4,677 | €3,010 | - | - | - | - |
| Current assets29/58 | €7,257 | €1,775 | €323 | €3,431 | €28,190 | €56,811 | €56,085 | €57,539 | ▲ 2.6% |
| Stocks and contracts in progress3 | - | - | - | - | €26,391 | €55,561 | €55,561 | €55,561 | = |
| Stocks30/36 | - | - | - | - | - | €55,561 | €55,561 | €55,561 | = |
| Contracts in progress37 | - | - | - | - | €26,391 | - | - | - | - |
| Amounts receivable within one year40/41 | €541 | €484 | - | €1,437 | €390 | €384 | €495 | €1,305 | ▲ 163% |
| Trade receivables40 | - | - | - | €1,437 | - | €384 | - | €1,300 | - |
| Other amounts receivable41 | - | - | - | - | €390 | - | €495 | €5 | ▼ 99.0% |
| Cash at bank and in hand54/58 | €6,716 | €1,291 | €323 | €1,861 | €1,378 | €866 | €0 | €673 | - |
| Deferred charges and accrued income490/1 | - | - | - | €134 | €31 | - | €28 | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €7,257 | €1,775 | €323 | €8,108 | €31,200 | €56,811 | €56,085 | €57,539 | ▲ 2.6% |
| Equity10/15 | -€2,354 | -€4,874 | -€6,565 | -€6,337 | -€11,097 | -€439 | -€4,975 | -€10,032 | ▼ 102% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€20,954 | -€23,474 | -€25,165 | -€24,937 | -€29,697 | -€19,039 | -€23,575 | -€28,632 | ▼ 21.4% |
| Amounts payable17/49 | €9,611 | €6,648 | €6,888 | €14,445 | €42,298 | €57,251 | €61,060 | €67,571 | ▲ 10.7% |
| Amounts payable after more than one year17 | €1,458 | - | - | - | €28,671 | €20,807 | €12,685 | €4,297 | ▼ 66.1% |
| Financial debts170/4 | - | - | - | - | €28,671 | €20,807 | €12,685 | €4,297 | ▼ 66.1% |
| Amounts payable within one year42/48 | €8,153 | €6,648 | €6,888 | €14,445 | €13,627 | €36,444 | €48,374 | €63,274 | ▲ 30.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €7,614 | €7,864 | €8,122 | €8,388 | ▲ 3.3% |
| Trade debts44 | €541 | €968 | €1,713 | €273 | €1,806 | €14,000 | €13,620 | €14,366 | ▲ 5.5% |
| Suppliers440/4 | - | - | - | €273 | €1,806 | €14,000 | €13,620 | €14,366 | ▲ 5.5% |
| Advances received on contracts in progress46 | - | - | - | €1,665 | - | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €1,850 | €1,600 | €1,295 | €1,100 | €1,100 | = |
| Taxes450/3 | - | - | - | €1,850 | €1,600 | €1,295 | €1,100 | €1,100 | = |
| Other amounts payable47/48 | - | - | - | €10,658 | €2,608 | €13,286 | €25,533 | €39,420 | ▲ 54.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,378 | -€2,519 | -€1,691 | €227 | -€4,760 | €10,658 | -€4,536 | -€5,056 | ▼ 11.5% |
| + Depreciation and write-downs630 | - | - | - | €323 | €1,667 | - | - | - | - |
| Operating cash flow (approximation) | -€2,378 | -€2,519 | -€1,691 | €551 | -€3,094 | €10,658 | -€4,536 | -€5,056 | ▼ 11.5% |
| Investment in fixed assets (approximation) | - | - | - | - | €0 | - | - | - | - |
| Change in cash | - | -€5,425 | -€968 | €1,538 | -€483 | -€512 | -€866 | €673 | - |
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, 2,333 companies had the same profile as Slimcube has now. Two years later, 90.5% were still going and 2.8% had gone bankrupt.
- Micro
- 10 to 20 years old
- negative equity
- a small loss
90.5%
was still going
5.8%
stopped otherwise
2.8%
went bankrupt
Another 0.8% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Slimcube itself: 2.0% 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 2,333 companies, not a prediction for Slimcube. 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 | micro format | 27-08-2026 | 2026-00432051 | |
| 31-12-2024 | micro format | 29-08-2025 | 2025-00435680 | |
| 31-12-2023 | micro format | 31-07-2024 | 2024-00309191 | |
| 31-12-2022 | micro format | 31-07-2023 | 2023-00294448 | |
| 31-12-2021 | micro format | 27-07-2022 | 2022-20227075 | |
| 31-12-2020 | micro format | 30-07-2021 | 2021-44500133 | |
| 31-12-2019 | micro format | 30-10-2020 | 2020-67700578 | |
| 31-12-2018 | micro format | 31-08-2019 | 2019-60600031 | |
| 31-12-2017 | micro format | 31-08-2018 | 2018-59400156 | |
| 31-12-2016 | abbreviated format | 29-08-2017 | 2017-51700490 |