SOCASTAR
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-01-2026 PDF all 24 filings
Turnover
€104,531▼ 1.3%
2024 · €105,900
EBIT margin
1.0%▲ 3.4pp
2024 · -2.3%
Net result
€992
2024 · -€1,950
Working capital
€71,390▼ 14.7%
2024 · €83,688
Multi-year overview
2019 to 2025, 7 financial yearsTurnover
€104,531
▼ 1.3%
2025
20192025
Operating result
€1,072
2025
20192025
Net result
€992
2025
middle half of the sector
20192025
EBIT margin
1.0%
▲ 3.4pp
2025
20192025
Equity
€93,987
▲ 1.1%
2025
middle half of the sector
20192025
Total assets
€114,173
▲ 12.5%
2025
middle half of the sector
20192025
Debt
€20,186
▲ 138%
2025
20192025
Working capital
€71,390
▼ 14.7%
2025
middle half of the sector
20192025
Solvency
82.3%
▼ 9.3pp
2025
highest quarter of the sector
20192025
Current ratio
4.54
▼ 6.33
2025
highest quarter of the sector
20192025
Return on assets (ROA)
0.9%
▲ 2.8pp
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Turnover€53,357€100,512▲ 88.4%€97,980▼ 2.5%€79,091▼ 19.3%€105,900▲ 33.9%€104,531▼ 1.3%
Operating result-€7,150--€29,883▼ 318%€32,917€11,615▼ 64.7%-€13,210-€2,465▲ 81.3%€1,072
Net result-€7,118--€30,021below the sector's middle half▼ 322%€33,968above the sector's middle half€8,354within the sector's middle half▼ 75.4%-€13,292below the sector's middle half-€1,950within the sector's middle half▲ 85.3%€992within the sector's middle half
EBIT margin-56.0%32.7%▲ 88.8pp11.9%▼ 20.9pp-16.7%▼ 28.6pp-2.3%▲ 14.4pp1.0%▲ 3.4pp
Equity€95,938-€65,916within the sector's middle half▼ 31.3%€99,884within the sector's middle half▲ 51.5%€108,238within the sector's middle half▲ 8.4%€94,946within the sector's middle half▼ 12.3%€92,995within the sector's middle half▼ 2.1%€93,987within the sector's middle half▲ 1.1%
Total assets€131,956-€77,566within the sector's middle half▼ 41.2%€121,533within the sector's middle half▲ 56.7%€126,071within the sector's middle half▲ 3.7%€107,438within the sector's middle half▼ 14.8%€101,480within the sector's middle half▼ 5.5%€114,173within the sector's middle half▲ 12.5%
Debt€36,018-€11,650▼ 67.7%€21,649▲ 85.8%€17,833▼ 17.6%€12,492▼ 29.9%€8,485▼ 32.1%€20,186▲ 138%
Working capital€65,828-€40,690within the sector's middle half▼ 38.2%€65,921within the sector's middle half▲ 62.0%€81,360within the sector's middle half▲ 23.4%€71,496within the sector's middle half▼ 12.1%€83,688within the sector's middle half▲ 17.1%€71,390within the sector's middle half▼ 14.7%
Solvency72.7%-85.0%above the sector's middle half▲ 12.3pp82.2%above the sector's middle half▼ 2.8pp85.9%above the sector's middle half▲ 3.7pp88.4%above the sector's middle half▲ 2.5pp91.6%above the sector's middle half▲ 3.3pp82.3%above the sector's middle half▼ 9.3pp
Current ratio3.45-6.78above the sector's middle half▲ 3.334.04above the sector's middle half▼ 2.745.56above the sector's middle half▲ 1.526.72above the sector's middle half▲ 1.1610.86above the sector's middle half▲ 4.144.54above the sector's middle half▼ 6.33
Return on assets (ROA)-5.4%--38.7%below the sector's middle half▼ 33.3pp27.9%above the sector's middle half▲ 66.7pp6.6%within the sector's middle half▼ 21.3pp-12.4%below the sector's middle half▼ 19.0pp-1.9%within the sector's middle half▲ 10.5pp0.9%within the sector's middle half▲ 2.8pp
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 €1,072, after a loss of €2,465 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €114,173
Fixed assets
€22,597 ▲ 143%
Current assets
€91,576 ▼ 0.6%
Equity and liabilities €114,173
Equity
€93,987 ▲ 1.1%
Debt
€20,186 ▲ 138%
Debt's share of the balance-sheet total rises from 8.4% to 17.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€18,689▲
2024 · €13,611
Cash flow
€18,609▲
2024 · €14,125
Debt to equity
0.21▲
2024 · 0.09
ROE
1.1%▲
2024 · -2.1%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€20,186▲
2024 · €8,485
Customer credit
21 days▼
2024 · 42 days
Supplier credit
27 days▲
2024 · 5 days
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | €20,963 | €1,933 | €30,908 |
| Depreciation and write-downs of the year | €18,340 | €24,392 | €16,076 | €17,618 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | €53,357 | €100,512 | €97,980 | €79,091 | €105,900 | €104,531 | ▼ 1.3% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €83,469 | €67,412 | €91,506 | €83,328 | ▼ 8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18,378 | €11,108 | €17,553 | €18,340 | €24,392 | €16,076 | €17,618 | ▲ 9.6% |
| Other operating charges640/8 | - | - | - | €14,269 | €496 | - | €1,914 | - |
| Non-recurring operating charges66A | - | - | - | - | - | €250 | €600 | ▲ 140% |
| Gross operating margin9900 | €11,836 | -€18,498 | €51,439 | €44,225 | €11,678 | €13,861 | €21,203 | ▲ 53.0% |
| Operating profit (loss)9901 | -€7,150 | -€29,883 | €32,917 | €11,615 | -€13,210 | -€2,465 | €1,072 | - |
| Financial income75/76B | - | - | - | €7 | €0 | €600 | €0 | ▼ 100.0% |
| Recurring financial income75 | €148 | €14 | €7 | €7 | €0 | €600 | €0 | ▼ 100.0% |
| Financial charges65/66B | - | - | - | €81 | €82 | €86 | €80 | ▼ 6.5% |
| Recurring financial charges65 | €115 | €152 | €529 | €81 | €82 | €86 | €80 | ▼ 6.5% |
| Profit (loss) for the period before taxes9903 | -€7,118 | -€30,021 | €32,395 | €11,542 | -€13,292 | -€1,950 | €992 | - |
| Income taxes67/77 | - | - | -€1,573 | €3,188 | €0 | - | - | - |
| Profit (loss) for the period9904 | -€7,118 | -€30,021 | €33,968 | €8,354 | -€13,292 | -€1,950 | €992 | - |
| Profit (loss) for the period to be appropriated9905 | -€7,118 | -€30,021 | €33,968 | €8,354 | -€13,292 | -€1,950 | €992 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €131,956 | €77,566 | €121,533 | €126,071 | €107,438 | €101,480 | €114,173 | ▲ 12.5% |
| Fixed assets21/28 | €39,311 | €29,840 | €33,963 | €26,878 | €23,449 | €9,307 | €22,597 | ▲ 143% |
| Tangible fixed assets22/27 | €39,311 | €29,840 | €33,963 | €26,878 | €23,449 | €9,307 | €22,597 | ▲ 143% |
| Plant, machinery and equipment23 | - | - | - | €9,928 | €15,103 | €9,175 | €3,317 | ▼ 63.8% |
| Furniture and vehicles24 | - | - | - | €16,949 | €8,346 | €132 | €19,280 | ▲ 146× |
| Current assets29/58 | €92,645 | €47,726 | €87,570 | €99,193 | €83,989 | €92,173 | €91,576 | ▼ 0.6% |
| Amounts receivable within one year40/41 | €33,795 | €4,544 | €6,228 | €5,450 | €19,808 | €13,622 | €8,394 | ▼ 38.4% |
| Trade receivables40 | - | - | - | €2,650 | €14,983 | €12,152 | €6,133 | ▼ 49.5% |
| Other amounts receivable41 | - | - | - | €2,800 | €4,825 | €1,470 | €2,261 | ▲ 53.9% |
| Cash at bank and in hand54/58 | €58,850 | €43,182 | €81,342 | €93,744 | €64,181 | €78,552 | €83,182 | ▲ 5.9% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €131,956 | €77,566 | €121,533 | €126,071 | €107,438 | €101,480 | €114,173 | ▲ 12.5% |
| Equity10/15 | €95,938 | €65,916 | €99,884 | €108,238 | €94,946 | €92,995 | €93,987 | ▲ 1.1% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Capital10 | - | - | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Issued capital100 | - | - | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €77,259 | €47,259 | €80,259 | €89,259 | €75,259 | €74,259 | €74,259 | = |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Legal reserve130 | - | - | - | - | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | - | - | - | €1,859 | - | - | - | - |
| Distributable reserves133 | - | - | - | €87,400 | €73,400 | €72,400 | €72,400 | = |
| Profit (loss) carried forward14 | €86 | €65 | €1,033 | €387 | €1,094 | €144 | €1,136 | ▲ 689% |
| Amounts payable17/49 | €36,018 | €11,650 | €21,649 | €17,833 | €12,492 | €8,485 | €20,186 | ▲ 138% |
| Amounts payable after more than one year17 | €9,201 | €4,614 | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €26,817 | €7,036 | €21,649 | €17,833 | €12,492 | €8,485 | €20,186 | ▲ 138% |
| Trade debts44 | €15,771 | €340 | €10,049 | €8,203 | €4,563 | €1,209 | €6,087 | ▲ 404% |
| Suppliers440/4 | - | - | - | €8,203 | €4,563 | €1,209 | €6,087 | ▲ 404% |
| Taxes, remuneration and social security45 | - | - | - | €3,080 | - | - | - | - |
| Taxes450/3 | - | - | - | €3,080 | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €6,550 | €7,929 | €7,276 | €14,099 | ▲ 93.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€7,118 | -€30,021 | €33,968 | €8,354 | -€13,292 | -€1,950 | €992 | - |
| + Depreciation and write-downs630 | €18,378 | €11,108 | €17,553 | €18,340 | €24,392 | €16,076 | €17,618 | ▲ 9.6% |
| Operating cash flow (approximation) | €11,261 | -€18,913 | €51,521 | €26,694 | €11,100 | €14,125 | €18,609 | ▲ 31.7% |
| Investment in fixed assets (approximation) | - | -€1,637 | -€21,677 | -€11,255 | -€20,963 | -€1,933 | -€30,908 | ▼ 1,499% |
| Change in cash | - | -€15,668 | €38,160 | €12,401 | -€29,563 | €14,371 | €4,630 | ▼ 67.8% |
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, 17,041 companies had the same profile as SOCASTAR has now. Two years later, 94.3% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
94.3%
was still going
4.9%
stopped otherwise
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SOCASTAR 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 17,041 companies, not a prediction for SOCASTAR. 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 24 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 30-01-2026 | 2026-00020269 | |
| 30-06-2024 | micro format | 30-12-2024 | 2024-00626643 | |
| 30-06-2023 | micro format | 23-01-2024 | 2024-00004738 | |
| 30-06-2022 | micro format | 13-12-2022 | 2022-20537282 | |
| 30-06-2021 | micro format | 03-01-2022 | 2022-00100515 | |
| 30-06-2020 | micro format | 27-11-2020 | 2020-72700558 | |
| 30-06-2019 | micro format | 14-11-2019 | 2019-73700178 | |
| 30-06-2018 | micro format | 25-01-2019 | 2019-02400129 | |
| 30-06-2017 | full format | 07-12-2017 | 2017-71400326 | |
| 30-06-2016 | full format | 01-12-2016 | 2016-69400231 |