SOFTQUEST
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 20-07-2026 at the NBB all 26 filings
Turnover
≈ €130,000
Estimated: probably between €120,000 and €180,000
Total assets
€595,048▲ 0.1%
2024 · €594,698
Net result
€9,408▼ 67.3%
2024 · €28,765
Working capital
-€137,712▲ 14.4%
2024 · -€160,869
In the rankings
#4 oldest company in Rotselaar, Telecoms and IT sector
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€35,495
▼ 22.9%
2025
20192025
Net result
€9,408
▼ 67.3%
2025
middle half of the sector
20192025
Equity
€302,454
▲ 3.2%
2025
highest quarter of the sector
20192025
Total assets
€595,048
▲ 0.1%
2025
highest quarter of the sector
20192025
Debt
€292,595
▼ 3.0%
2025
20192025
Working capital
-€137,712
▲ 14.4%
2025
lowest quarter of the sector
20192025
Solvency
50.8%
▲ 1.6pp
2025
middle half of the sector
20192025
Current ratio
0.46
▲ 0.07
2025
lowest quarter of the sector
20192025
Return on assets (ROA)
1.6%
▼ 3.3pp
2025
lowest 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€30,738--€14,118€30,855€38,655▲ 25.3%€44,573▲ 15.3%€46,032▲ 3.3%€35,495▼ 22.9%
Net result€18,105--€18,377below the sector's middle half€19,795within the sector's middle half€23,785within the sector's middle half▲ 20.2%€26,182within the sector's middle half▲ 10.1%€28,765within the sector's middle half▲ 9.9%€9,408within the sector's middle half▼ 67.3%
Equity€437,095-€418,719above the sector's middle half▼ 4.2%€438,514above the sector's middle half▲ 4.7%€445,098above the sector's middle half▲ 1.5%€471,281above the sector's middle half▲ 5.9%€293,046above the sector's middle half▼ 37.8%€302,454above the sector's middle half▲ 3.2%
Total assets€619,119-€579,822above the sector's middle half▼ 6.3%€612,519above the sector's middle half▲ 5.6%€613,473above the sector's middle half▲ 0.2%€601,472above the sector's middle half▼ 2.0%€594,698above the sector's middle half▼ 1.1%€595,048above the sector's middle half▲ 0.1%
Debt€182,024-€161,103▼ 11.5%€174,005▲ 8.0%€168,375▼ 3.2%€130,191▼ 22.7%€301,652▲ 132%€292,595▼ 3.0%
Working capital-€15,624--€44,340below the sector's middle half▼ 184%-€10,171below the sector's middle half▲ 77.1%-€391below the sector's middle half▲ 96.2%€10,923below the sector's middle half-€160,869below the sector's middle half-€137,712below the sector's middle half▲ 14.4%
Solvency70.6%-72.2%within the sector's middle half▲ 1.6pp71.6%within the sector's middle half▼ 0.6pp72.6%within the sector's middle half▲ 1.0pp78.4%within the sector's middle half▲ 5.8pp49.3%within the sector's middle half▼ 29.1pp50.8%within the sector's middle half▲ 1.6pp
Current ratio0.69-0.24below the sector's middle half▼ 0.450.87below the sector's middle half▲ 0.631.00below the sector's middle half▲ 0.131.13below the sector's middle half▲ 0.130.38below the sector's middle half▼ 0.750.46below the sector's middle half▲ 0.07
Return on assets (ROA)2.9%--3.2%below the sector's middle half▼ 6.1pp3.2%below the sector's middle half▲ 6.4pp3.9%within the sector's middle half▲ 0.6pp4.4%within the sector's middle half▲ 0.5pp4.8%within the sector's middle half▲ 0.5pp1.6%below the sector's middle half▼ 3.3pp
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). 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 23% lower than in 2024.
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 €595,048
Fixed assets
€479,804 ▼ 3.0%
Current assets
€115,244 ▲ 15.2%
Equity and liabilities €595,048
Equity
€302,454 ▲ 3.2%
Debt
€292,595 ▼ 3.0%
Debt's share of the balance-sheet total falls from 50.7% to 49.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€63,234▼
2024 · €73,713
Cash flow
€37,147▼
2024 · €56,446
Debt to equity
0.97▼
2024 · 1.03
ROE
3.1%▼
2024 · 9.8%
Interest coverage
2.81▼
2024 · 3.58
Debt ≤ 1 year
€252,957▼
2024 · €260,912
Debt > 1 year
€23,445▼
2024 · €27,925
Income taxes
€4,885▼
2024 · €11,837
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 30-09-2021 | 30-09-2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Mortgages, amount registered | - | €270,000 | - | - | - |
| Carrying value of the mortgaged assets | - | €272,856 | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-09-2021 | 30-09-2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €4,447 | €5,178 | €15,447 | €15,578 | €12,888 |
| Depreciation and write-downs of the year | €25,776 | €25,753 | €32,662 | €27,681 | €27,739 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €9,091 | €4,069 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €30,155 | €25,262 | €25,776 | €25,753 | €32,662 | €27,681 | €27,739 | ▲ 0.2% |
| Other operating charges640/8 | - | - | €3,624 | €4,828 | €6,989 | €5,388 | €5,758 | ▲ 6.9% |
| Gross operating margin9900 | €53,570 | €17,422 | €60,256 | €69,235 | €84,224 | €79,101 | €68,992 | ▼ 12.8% |
| Operating profit (loss)9901 | €30,738 | -€14,118 | €30,855 | €38,655 | €44,573 | €46,032 | €35,495 | ▼ 22.9% |
| Financial income75/76B | - | - | €32 | €0 | €11 | €15,135 | €1,321 | ▼ 91.3% |
| Recurring financial income75 | €1 | €98 | €32 | €0 | €11 | €15,135 | €1,321 | ▼ 91.3% |
| Financial charges65/66B | - | - | €5,133 | €4,748 | €7,442 | €20,564 | €22,524 | ▲ 9.5% |
| Recurring financial charges65 | €3,998 | €3,946 | €5,133 | €4,748 | €7,442 | €20,564 | €22,524 | ▲ 9.5% |
| Profit (loss) for the period before taxes9903 | €26,741 | -€17,966 | €25,754 | €33,907 | €37,142 | €40,602 | €14,293 | ▼ 64.8% |
| Income taxes67/77 | €8,636 | €410 | €5,959 | €10,122 | €10,960 | €11,837 | €4,885 | ▼ 58.7% |
| Profit (loss) for the period9904 | €18,105 | -€18,377 | €19,795 | €23,785 | €26,182 | €28,765 | €9,408 | ▼ 67.3% |
| Profit (loss) for the period to be appropriated9905 | €18,105 | -€18,377 | €19,795 | €23,785 | €26,182 | €28,765 | €9,408 | ▼ 67.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €619,119 | €579,822 | €612,519 | €613,473 | €601,472 | €594,698 | €595,048 | ▲ 0.1% |
| Fixed assets21/28 | €585,138 | €565,877 | €544,547 | €523,973 | €506,758 | €494,655 | €479,804 | ▼ 3.0% |
| Tangible fixed assets22/27 | €585,138 | €565,877 | €544,547 | €523,973 | €506,758 | €494,655 | €479,804 | ▼ 3.0% |
| Land and buildings22 | - | - | €535,785 | €513,668 | €498,299 | €483,194 | €471,836 | ▼ 2.4% |
| Plant, machinery and equipment23 | - | - | €1,693 | €1,129 | €422 | €0 | €974 | - |
| Furniture and vehicles24 | - | - | €7,069 | €9,176 | €8,037 | €11,461 | €6,994 | ▼ 39.0% |
| Current assets29/58 | €33,981 | €13,945 | €67,972 | €89,500 | €94,714 | €100,042 | €115,244 | ▲ 15.2% |
| Amounts receivable within one year40/41 | €28,942 | €6,263 | €28,321 | €53,336 | €46,580 | €32,888 | €35,807 | ▲ 8.9% |
| Trade receivables40 | - | - | €27,050 | €31,409 | €46,488 | €32,823 | €32,932 | ▲ 0.3% |
| Other amounts receivable41 | - | - | €1,272 | €21,927 | €92 | €65 | €2,875 | ▲ 44× |
| Current investments50/53 | - | - | - | €29,065 | €29,065 | €44,138 | €56,682 | ▲ 28.4% |
| Cash at bank and in hand54/58 | €3,874 | €5,193 | €37,493 | €2,279 | €14,251 | €9,167 | €10,084 | ▲ 10.0% |
| Deferred charges and accrued income490/1 | - | - | €2,157 | €4,822 | €4,818 | €13,848 | €12,671 | ▼ 8.5% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €619,119 | €579,822 | €612,519 | €613,473 | €601,472 | €594,698 | €595,048 | ▲ 0.1% |
| Equity10/15 | €437,095 | €418,719 | €438,514 | €445,098 | €471,281 | €293,046 | €302,454 | ▲ 3.2% |
| Contributions10/11 | €322,000 | - | €322,000 | €322,000 | €322,000 | €115,000 | €115,000 | = |
| Reserves13 | €115,095 | €115,095 | €116,514 | €123,098 | €149,281 | €178,046 | €187,454 | ▲ 5.3% |
| Non-distributable reserves130/1 | - | - | €33,700 | €33,700 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €33,700 | €33,700 | - | - | - | - |
| Distributable reserves133 | - | - | €82,814 | €89,398 | €149,281 | €178,046 | €187,454 | ▲ 5.3% |
| Profit (loss) carried forward14 | - | -€18,377 | €0 | €0 | - | - | - | - |
| Provisions and deferred taxes16 | €0 | - | - | - | - | - | - | - |
| Amounts payable17/49 | €182,024 | €161,103 | €174,005 | €168,375 | €130,191 | €301,652 | €292,595 | ▼ 3.0% |
| Amounts payable after more than one year17 | €117,417 | €98,417 | €79,417 | €62,747 | €43,896 | €27,925 | €23,445 | ▼ 16.0% |
| Financial debts170/4 | - | - | €79,417 | €62,747 | €43,896 | €27,925 | €23,445 | ▼ 16.0% |
| Amounts payable within one year42/48 | €49,605 | €58,285 | €78,143 | €89,891 | €83,792 | €260,912 | €252,957 | ▼ 3.0% |
| Current portion of amounts payable after more than one year42 | - | - | €19,000 | €20,281 | €24,439 | €22,471 | €14,480 | ▼ 35.6% |
| Financial debts43 | - | - | €3,219 | €11,066 | €2,943 | €2,536 | €2,523 | ▼ 0.5% |
| Credit institutions430/8 | - | - | €3,219 | €11,066 | €2,943 | €2,536 | €2,523 | ▼ 0.5% |
| Trade debts44 | €1,270 | €5,939 | €6,385 | €2,611 | €18,180 | €2,576 | €6,487 | ▲ 152% |
| Suppliers440/4 | - | - | €6,385 | €2,611 | €18,180 | €2,576 | €6,487 | ▲ 152% |
| Advances received on contracts in progress46 | - | - | - | - | - | €2,345 | €3,489 | ▲ 48.8% |
| Taxes, remuneration and social security45 | - | - | €8,634 | €7,813 | €8,821 | €13,025 | €8,774 | ▼ 32.6% |
| Taxes450/3 | - | - | €6,150 | €5,316 | €8,821 | €10,500 | €8,774 | ▼ 16.4% |
| Remuneration and social security454/9 | - | - | €2,484 | €2,498 | - | €2,525 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | €40,904 | €48,121 | €29,408 | €217,959 | €217,203 | ▼ 0.3% |
| Accrued charges and deferred income492/3 | - | - | €16,445 | €15,736 | €2,503 | €12,815 | €16,193 | ▲ 26.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,105 | -€18,377 | €19,795 | €23,785 | €26,182 | €28,765 | €9,408 | ▼ 67.3% |
| + Depreciation and write-downs630 | €30,155 | €25,262 | €25,776 | €25,753 | €32,662 | €27,681 | €27,739 | ▲ 0.2% |
| Operating cash flow (approximation) | €48,259 | €6,885 | €45,571 | €49,538 | €58,844 | €56,446 | €37,147 | ▼ 34.2% |
| Investment in fixed assets (approximation) | - | -€6,000 | -€4,447 | -€5,178 | -€15,447 | -€15,578 | -€12,888 | ▲ 17.3% |
| Change in cash | - | €1,319 | €32,300 | -€35,215 | €11,973 | -€5,084 | €916 | - |
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, 14,766 companies had the same profile as SOFTQUEST has now. Two years later, 96.2% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
96.2%
was still going
3.5%
stopped otherwise
0.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SOFTQUEST 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 14,766 companies, not a prediction for SOFTQUEST. 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 26 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 20-07-2026 | 2026-00310814 | |
| 31-12-2024 | micro format | 09-07-2025 | 2025-00248054 | |
| 31-12-2023 | micro format | 04-07-2024 | 2024-00206756 | |
| 30-09-2022 | micro format | 28-04-2023 | 2023-00073578 | |
| 30-09-2021 | micro format | 10-05-2022 | 2022-20023749 | |
| 30-09-2020 | micro format | 26-04-2021 | 2021-11200311 | |
| 30-09-2019 | micro format | 15-04-2020 | 2020-09300035 | |
| 30-09-2018 | micro format | 30-04-2019 | 2019-11700575 | |
| 30-09-2017 | micro format | 02-05-2018 | 2018-11700321 | |
| 30-09-2016 | abbreviated format | 28-04-2017 | 2017-10800535 |