SMSPLANET
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 16-03-2026 PDF all 23 filings
Turnover
≈ €750,000
Estimated: probably between €420,000 and €1.2m
Total assets
€390,305▼ 0.1%
2024 · €390,656
Net result
€66,791▲ 41.8%
2024 · €47,097
Working capital
-€79,083▲ 37.0%
2024 · -€125,446
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€83,939
▲ 11.6%
2025
20192025
Net result
€66,791
▲ 41.8%
2025
highest quarter of the sector
20192025
Equity
€51,403
▲ 15.2%
2025
middle half of the sector
20192025
Total assets
€390,305
▼ 0.1%
2025
highest quarter of the sector
20192025
Debt
€338,902
▼ 2.1%
2025
20192025
Working capital
-€79,083
▲ 37.0%
2025
lowest quarter of the sector
20192025
Solvency
13.2%
▲ 1.8pp
2025
middle half of the sector
20192025
Current ratio
0.77
▲ 0.13
2025
lowest quarter of the sector
20192025
Return on assets (ROA)
17.1%
▲ 5.1pp
2025
highest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€3,408-€10,556-€8,791€31,658€11,278▼ 64.4%€75,195▲ 567%€83,939▲ 11.6%
Net result-€26,225--€17,378below the sector's middle half▲ 33.7%-€32,331below the sector's middle half▼ 86.0%€1,167within the sector's middle half-€622within the sector's middle half€47,097above the sector's middle half€66,791above the sector's middle half▲ 41.8%
Equity€86,679-€69,301within the sector's middle half▼ 20.0%€36,970within the sector's middle half▼ 46.7%€38,137within the sector's middle half▲ 3.2%€37,514within the sector's middle half▼ 1.6%€44,612within the sector's middle half▲ 18.9%€51,403within the sector's middle half▲ 15.2%
Total assets€505,134-€530,169above the sector's middle half▲ 5.0%€436,560above the sector's middle half▼ 17.7%€537,181above the sector's middle half▲ 23.0%€452,139above the sector's middle half▼ 15.8%€390,656above the sector's middle half▼ 13.6%€390,305above the sector's middle half▼ 0.1%
Debt€418,455-€460,867▲ 10.1%€399,590▼ 13.3%€499,045▲ 24.9%€414,624▼ 16.9%€346,045▼ 16.5%€338,902▼ 2.1%
Working capital€24,081-€8,927within the sector's middle half▼ 62.9%-€140,081below the sector's middle half-€160,683below the sector's middle half▼ 14.7%-€156,671below the sector's middle half▲ 2.5%-€125,446below the sector's middle half▲ 19.9%-€79,083below the sector's middle half▲ 37.0%
Solvency17.2%-13.1%within the sector's middle half▼ 4.1pp8.5%within the sector's middle half▼ 4.6pp7.1%within the sector's middle half▼ 1.4pp8.3%within the sector's middle half▲ 1.2pp11.4%within the sector's middle half▲ 3.1pp13.2%within the sector's middle half▲ 1.8pp
Current ratio1.08-1.03within the sector's middle half▼ 0.050.65below the sector's middle half▼ 0.380.68below the sector's middle half▲ 0.030.62below the sector's middle half▼ 0.060.64below the sector's middle half▲ 0.020.77below the sector's middle half▲ 0.13
Return on assets (ROA)-5.2%--3.3%below the sector's middle half▲ 1.9pp-7.4%below the sector's middle half▼ 4.1pp0.2%within the sector's middle half▲ 7.6pp-0.1%within the sector's middle half▼ 0.4pp12.1%within the sector's middle half▲ 12.2pp17.1%above the sector's middle half▲ 5.1pp
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 12% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €390,305
Fixed assets
€130,486 ▼ 23.3%
Current assets
€259,820 ▲ 17.8%
Equity and liabilities €390,305
Equity
€51,403 ▲ 15.2%
Debt
€338,902 ▼ 2.1%
Debt's share of the balance-sheet total falls from 88.6% to 86.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€123,511▲
2024 · €111,339
Cash flow
€106,363▲
2024 · €83,242
Quick ratio
0.25▲
2024 · 0.14
Debt to equity
6.59▼
2024 · 7.76
ROE
129.9%▲
2024 · 105.6%
Interest coverage
7.46▲
2024 · 4.20
Debt ≤ 1 year
€338,902▼
2024 · €346,045
Income taxes
€629▼
2024 · €1,822
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €1,371 | €1,385 | €12,017 | - |
| Intangible fixed assets | €26,200 | - | - | - |
| Depreciation and write-downs of the year | €5,802 | €6,020 | €36,145 | €39,572 |
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 | €8,853 | €5,416 | €5,627 | €5,802 | €6,020 | €36,145 | €39,572 | ▲ 9.5% |
| Other operating charges640/8 | - | - | - | €2,577 | €10,691 | €4,147 | €3,241 | ▼ 21.9% |
| Gross operating margin9900 | €15,284 | €22,081 | €5,885 | €40,038 | €27,988 | €115,486 | €126,751 | ▲ 9.8% |
| Operating profit (loss)9901 | -€3,408 | €10,556 | -€8,791 | €31,658 | €11,278 | €75,195 | €83,939 | ▲ 11.6% |
| Financial income75/76B | - | - | - | €641 | €57 | €206 | €27 | ▼ 86.8% |
| Recurring financial income75 | €626 | €2,256 | €198 | €641 | €57 | €206 | €27 | ▼ 86.8% |
| Financial charges65/66B | - | - | - | €30,132 | €11,957 | €26,481 | €16,546 | ▼ 37.5% |
| Recurring financial charges65 | €23,443 | €29,826 | €23,739 | €30,132 | €11,957 | €26,481 | €16,546 | ▼ 37.5% |
| Profit (loss) for the period before taxes9903 | -€26,225 | -€17,014 | -€32,331 | €2,167 | -€622 | €48,920 | €67,420 | ▲ 37.8% |
| Income taxes67/77 | - | €364 | - | €1,001 | €0 | €1,822 | €629 | ▼ 65.5% |
| Profit (loss) for the period9904 | -€26,225 | -€17,378 | -€32,331 | €1,167 | -€622 | €47,097 | €66,791 | ▲ 41.8% |
| Profit (loss) for the period to be appropriated9905 | -€26,225 | -€17,378 | -€32,331 | €1,167 | -€622 | €47,097 | €66,791 | ▲ 41.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €505,134 | €530,169 | €436,560 | €537,181 | €452,139 | €390,656 | €390,305 | ▼ 0.1% |
| Fixed assets21/28 | €184,897 | €182,678 | €177,051 | €198,820 | €194,185 | €170,057 | €130,486 | ▼ 23.3% |
| Intangible fixed assets21 | €101,500 | €101,500 | €101,500 | €127,700 | €127,700 | €100,100 | €72,500 | ▼ 27.6% |
| Tangible fixed assets22/27 | €83,397 | €81,178 | €75,551 | €71,120 | €66,485 | €69,957 | €57,986 | ▼ 17.1% |
| Land and buildings22 | - | - | - | €67,986 | €63,187 | €58,411 | €53,635 | ▼ 8.2% |
| Plant, machinery and equipment23 | - | - | - | €1,766 | €2,377 | €1,460 | €696 | ▼ 52.3% |
| Furniture and vehicles24 | - | - | - | €1,368 | €922 | €10,086 | €3,655 | ▼ 63.8% |
| Current assets29/58 | €320,237 | €347,491 | €259,509 | €338,362 | €257,953 | €220,599 | €259,820 | ▲ 17.8% |
| Stocks and contracts in progress3 | €205,681 | €231,986 | €222,536 | €257,727 | €242,215 | €173,106 | €175,606 | ▲ 1.4% |
| Stocks30/36 | - | - | - | €257,727 | €242,215 | €173,106 | €175,606 | ▲ 1.4% |
| Amounts receivable within one year40/41 | €111,729 | €112,104 | €24,433 | €61,184 | €8,229 | €44,487 | €81,336 | ▲ 82.8% |
| Trade receivables40 | - | - | - | €61,064 | €8,229 | €0 | - | - |
| Other amounts receivable41 | - | - | - | €120 | €0 | €44,487 | €81,336 | ▲ 82.8% |
| Cash at bank and in hand54/58 | €2,827 | €3,401 | €1,665 | €12,718 | €7,510 | €3,006 | €2,878 | ▼ 4.3% |
| Deferred charges and accrued income490/1 | - | - | - | €6,733 | €0 | - | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €505,134 | €530,169 | €436,560 | €537,181 | €452,139 | €390,656 | €390,305 | ▼ 0.1% |
| Equity10/15 | €86,679 | €69,301 | €36,970 | €38,137 | €37,514 | €44,612 | €51,403 | ▲ 15.2% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €24,679 | €7,301 | €7,301 | €7,301 | €7,301 | €7,301 | €14,093 | ▲ 93.0% |
| Non-distributable reserves130/1 | - | - | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | - | - | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Distributable reserves133 | - | - | - | €1,101 | €1,101 | €1,101 | €7,893 | ▲ 617% |
| Profit (loss) carried forward14 | - | - | -€32,331 | -€31,165 | -€31,787 | -€24,690 | -€24,690 | = |
| Amounts payable17/49 | €418,455 | €460,867 | €399,590 | €499,045 | €414,624 | €346,045 | €338,902 | ▼ 2.1% |
| Amounts payable after more than one year17 | €122,299 | €119,379 | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €296,156 | €338,563 | €399,590 | €499,045 | €414,624 | €346,045 | €338,902 | ▼ 2.1% |
| Financial debts43 | - | - | - | - | - | €20,918 | €20,417 | ▼ 2.4% |
| Other loans439 | - | - | - | - | - | €20,918 | €20,417 | ▼ 2.4% |
| Trade debts44 | €71,264 | €95,192 | €47,048 | €35,098 | €49,661 | €40,487 | €0 | ▼ 100% |
| Suppliers440/4 | - | - | - | €35,098 | €49,661 | €40,487 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | - | €79,779 | €56,211 | €31,937 | €17,784 | ▼ 44.3% |
| Taxes450/3 | - | - | - | €79,779 | €56,211 | €31,937 | €17,784 | ▼ 44.3% |
| Other amounts payable47/48 | - | - | - | €384,168 | €308,753 | €252,702 | €300,701 | ▲ 19.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€26,225 | -€17,378 | -€32,331 | €1,167 | -€622 | €47,097 | €66,791 | ▲ 41.8% |
| + Depreciation and write-downs630 | €8,853 | €5,416 | €5,627 | €5,802 | €6,020 | €36,145 | €39,572 | ▲ 9.5% |
| Operating cash flow (approximation) | -€17,372 | -€11,962 | -€26,704 | €6,968 | €5,397 | €83,242 | €106,363 | ▲ 27.8% |
| Investment in fixed assets (approximation) | - | -€3,197 | €0 | -€27,571 | -€1,385 | -€12,017 | €0 | - |
| Change in cash | - | €573 | -€1,736 | €11,053 | -€5,208 | -€4,503 | -€128 | ▲ 97.2% |
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, 3,818 companies had the same profile as SMSPLANET has now. Two years later, 95.1% were still going and 1.0% had gone bankrupt.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
95.1%
was still going
3.7%
stopped otherwise
1.0%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SMSPLANET itself: 0.4% 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 3,818 companies, not a prediction for SMSPLANET. 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 23 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 16-03-2026 | 2026-00054431 | |
| 30-09-2024 | micro format | 28-04-2025 | 2025-00077683 | |
| 30-09-2023 | micro format | 22-03-2024 | 2024-00050242 | |
| 30-09-2022 | micro format | 07-04-2023 | 2023-00057187 | |
| 30-09-2021 | micro format | 31-03-2022 | 2022-09600092 | |
| 30-09-2020 | micro format | 09-04-2021 | 2021-10300047 | |
| 30-09-2019 | micro format | 10-04-2020 | 2020-09100286 | |
| 30-09-2018 | micro format | 10-04-2019 | 2019-09700410 | |
| 30-09-2017 | micro format | 11-04-2018 | 2018-09600511 | |
| 30-09-2016 | abbreviated format | 30-05-2017 | 2017-14600061 |