Software Consult
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 16-07-2026 at the NBB all 13 filings
Turnover
≈ €190,000
Estimated: probably between €180,000 and €240,000
Total assets
€553,559▲ 11.1%
2024 · €498,209
Net result
€70,628▼ 7.9%
2024 · €76,645
Working capital
€476,842▲ 22.0%
2024 · €390,757
In the rankings
#6 company by equity in Boortmeerbeek, Telecoms and IT sector
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€98,522
▼ 9.3%
2025
20192025
Net result
€70,628
▼ 7.9%
2025
highest quarter of the sector
20192025
Equity
€530,011
▲ 15.4%
2025
highest quarter of the sector
20192025
Total assets
€553,559
▲ 11.1%
2025
highest quarter of the sector
20192025
Debt
€23,548
▼ 39.3%
2025
20192025
Working capital
€476,842
▲ 22.0%
2025
highest quarter of the sector
20192025
Solvency
95.7%
▲ 3.5pp
2025
highest quarter of the sector
20192025
Current ratio
21.25
▲ 7.05
2025
highest quarter of the sector
20192025
Return on assets (ROA)
12.8%
▼ 2.6pp
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
Operating result€38,464--€1,835€83,599€91,059▲ 8.9%€98,366▲ 8.0%€108,572▲ 10.4%€98,522▼ 9.3%
Net result€25,578--€1,760below the sector's middle half€57,510above the sector's middle half€65,994above the sector's middle half▲ 14.8%€62,922above the sector's middle half▼ 4.7%€76,645above the sector's middle half▲ 21.8%€70,628above the sector's middle half▼ 7.9%
Equity€198,072-€196,312above the sector's middle half▼ 0.9%€253,822above the sector's middle half▲ 29.3%€319,816above the sector's middle half▲ 26.0%€382,738above the sector's middle half▲ 19.7%€459,383above the sector's middle half▲ 20.0%€530,011above the sector's middle half▲ 15.4%
Total assets€247,286-€214,091within the sector's middle half▼ 13.4%€265,929within the sector's middle half▲ 24.2%€337,540above the sector's middle half▲ 26.9%€432,736above the sector's middle half▲ 28.2%€498,209above the sector's middle half▲ 15.1%€553,559above the sector's middle half▲ 11.1%
Debt€49,214-€17,779▼ 63.9%€12,107▼ 31.9%€17,724▲ 46.4%€49,998▲ 182%€38,826▼ 22.3%€23,548▼ 39.3%
Working capital€105,619-€133,481above the sector's middle half▲ 26.4%€208,436above the sector's middle half▲ 56.2%€278,828above the sector's middle half▲ 33.8%€303,691above the sector's middle half▲ 8.9%€390,757above the sector's middle half▲ 28.7%€476,842above the sector's middle half▲ 22.0%
Solvency80.1%-91.7%above the sector's middle half▲ 11.6pp95.4%above the sector's middle half▲ 3.8pp94.7%above the sector's middle half▼ 0.7pp88.4%above the sector's middle half▼ 6.3pp92.2%above the sector's middle half▲ 3.8pp95.7%above the sector's middle half▲ 3.5pp
Current ratio3.69-18.16above the sector's middle half▲ 14.4799.92above the sector's middle half▲ 81.7637.10above the sector's middle half▼ 62.8213.62above the sector's middle half▼ 23.4814.20above the sector's middle half▲ 0.5821.25above the sector's middle half▲ 7.05
Return on assets (ROA)10.3%--0.8%below the sector's middle half▼ 11.2pp21.6%within the sector's middle half▲ 22.4pp19.6%within the sector's middle half▼ 2.1pp14.5%within the sector's middle half▼ 5.0pp15.4%within the sector's middle half▲ 0.8pp12.8%within the sector's middle half▼ 2.6pp
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 9% 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 €553,559
Fixed assets
€53,169 ▼ 31.7%
Current assets
€500,390 ▲ 19.0%
Equity and liabilities €553,559
Equity
€530,011 ▲ 15.4%
Debt
€23,548 ▼ 39.3%
Debt's share of the balance-sheet total falls from 7.8% to 4.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€125,417▼
2024 · €135,708
Cash flow
€97,522▼
2024 · €103,782
Debt to equity
0.04▼
2024 · 0.08
ROE
13.3%▼
2024 · 16.7%
Interest coverage
over 100▲
2024 · 73.49
Debt ≤ 1 year
€23,548▼
2024 · €29,602
Debt > 1 year
€0▼
2024 · €8,864
Income taxes
€28,180▼
2024 · €31,001
Staff costs
€200▼
2024 · €385
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 | €3,232 | €8,170 | €75,778 | - | €2,214 |
| Depreciation and write-downs of the year | €20,678 | €12,568 | €21,781 | €27,137 | €26,894 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €439 | €320 | €871 | €385 | €200 | ▼ 48.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €20,635 | €34,315 | €20,678 | €12,568 | €21,781 | €27,137 | €26,894 | ▼ 0.9% |
| Other operating charges640/8 | - | - | €2,018 | €1,352 | €2,468 | €1,758 | €1,070 | ▼ 39.1% |
| Gross operating margin9900 | €60,284 | €34,328 | €106,735 | €105,299 | €123,486 | €137,852 | €126,687 | ▼ 8.1% |
| Operating profit (loss)9901 | €38,464 | -€1,835 | €83,599 | €91,059 | €98,366 | €108,572 | €98,522 | ▼ 9.3% |
| Financial income75/76B | - | - | €106 | €0 | €5 | €921 | €1,349 | ▲ 46.4% |
| Recurring financial income75 | - | €3,000 | €106 | €0 | €5 | €921 | €1,349 | ▲ 46.4% |
| Financial charges65/66B | - | - | €160 | €121 | €1,494 | €1,847 | €1,064 | ▼ 42.4% |
| Recurring financial charges65 | €352 | €1,205 | €160 | €121 | €1,494 | €1,847 | €1,064 | ▼ 42.4% |
| Profit (loss) for the period before taxes9903 | €38,112 | -€40 | €83,545 | €90,939 | €96,877 | €107,646 | €98,808 | ▼ 8.2% |
| Income taxes67/77 | €12,534 | €1,720 | €26,035 | €24,944 | €33,955 | €31,001 | €28,180 | ▼ 9.1% |
| Profit (loss) for the period9904 | €25,578 | -€1,760 | €57,510 | €65,994 | €62,922 | €76,645 | €70,628 | ▼ 7.9% |
| Transfer from tax-exempt reserves789 | - | - | €28,543 | €0 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €25,578 | -€1,760 | €86,052 | €65,994 | €62,922 | €76,645 | €70,628 | ▼ 7.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €247,286 | €214,091 | €265,929 | €337,540 | €432,736 | €498,209 | €553,559 | ▲ 11.1% |
| Fixed assets21/28 | €102,453 | €72,831 | €55,386 | €50,988 | €104,986 | €77,849 | €53,169 | ▼ 31.7% |
| Tangible fixed assets22/27 | €102,453 | €72,831 | €55,386 | €50,988 | €104,986 | €77,849 | €53,169 | ▼ 31.7% |
| Land and buildings22 | - | - | €173 | €87 | €0 | - | - | - |
| Plant, machinery and equipment23 | - | - | €1,057 | €2,999 | €7,493 | €5,238 | €3,089 | ▼ 41.0% |
| Furniture and vehicles24 | - | - | €6,228 | €9,858 | €69,331 | €54,332 | €41,683 | ▼ 23.3% |
| Other tangible fixed assets26 | - | - | €47,928 | €38,045 | €28,162 | €18,279 | €8,397 | ▼ 54.1% |
| Current assets29/58 | €144,833 | €141,260 | €210,543 | €286,552 | €327,750 | €420,359 | €500,390 | ▲ 19.0% |
| Amounts receivable after more than one year29 | - | - | €10,721 | €10,721 | €10,721 | €14,460 | €16,423 | ▲ 13.6% |
| Other amounts receivable291 | - | - | €10,721 | €10,721 | €10,721 | €14,460 | €16,423 | ▲ 13.6% |
| Amounts receivable within one year40/41 | €25,998 | €24,612 | €36,573 | €57,347 | €34,919 | €52,157 | €52,614 | ▲ 0.9% |
| Trade receivables40 | - | - | €13,091 | €20,961 | €18,323 | €51,129 | €48,397 | ▼ 5.3% |
| Other amounts receivable41 | - | - | €23,482 | €36,386 | €16,596 | €1,028 | €4,217 | ▲ 310% |
| Current investments50/53 | - | - | - | - | - | - | €210,000 | - |
| Cash at bank and in hand54/58 | €117,795 | €115,252 | €161,541 | €216,415 | €280,810 | €352,779 | €221,353 | ▼ 37.3% |
| Deferred charges and accrued income490/1 | - | - | €1,708 | €2,069 | €1,299 | €963 | €0 | ▼ 100% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €247,286 | €214,091 | €265,929 | €337,540 | €432,736 | €498,209 | €553,559 | ▲ 11.1% |
| Equity10/15 | €198,072 | €196,312 | €253,822 | €319,816 | €382,738 | €459,383 | €530,011 | ▲ 15.4% |
| Contributions10/11 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €121,859 | €121,859 | €179,369 | €245,363 | €308,285 | €384,930 | €455,558 | ▲ 18.3% |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | - | - | €0 | - | - | - | - | - |
| Distributable reserves133 | - | - | €177,509 | €243,503 | €306,425 | €383,070 | €453,698 | ▲ 18.4% |
| Profit (loss) carried forward14 | €63,813 | €62,053 | €62,053 | €62,053 | €62,053 | €62,053 | €62,053 | = |
| Amounts payable17/49 | €49,214 | €17,779 | €12,107 | €17,724 | €49,998 | €38,826 | €23,548 | ▼ 39.3% |
| Amounts payable after more than one year17 | €10,000 | €10,000 | €10,000 | €10,000 | €25,939 | €8,864 | €0 | ▼ 100% |
| Financial debts170/4 | - | - | €10,000 | €10,000 | €25,939 | €8,864 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €39,214 | €7,779 | €2,107 | €7,724 | €24,059 | €29,602 | €23,548 | ▼ 20.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €16,241 | €17,075 | €8,864 | ▼ 48.1% |
| Financial debts43 | - | - | - | - | - | - | €2,976 | - |
| Credit institutions430/8 | - | - | - | - | - | - | €2,976 | - |
| Trade debts44 | €79 | €709 | €1,037 | €6,653 | €1,738 | €3,679 | €1,624 | ▼ 55.9% |
| Suppliers440/4 | - | - | €1,037 | €6,653 | €1,738 | €3,679 | €1,624 | ▼ 55.9% |
| Taxes, remuneration and social security45 | - | - | €1,070 | €1,071 | €6,081 | €8,848 | €10,085 | ▲ 14.0% |
| Taxes450/3 | - | - | €1,070 | €1,071 | €6,081 | €7,842 | €9,078 | ▲ 15.8% |
| Remuneration and social security454/9 | - | - | - | - | - | €1,006 | €1,006 | = |
| Other amounts payable47/48 | - | - | €0 | - | - | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €360 | €0 | ▼ 100% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €25,578 | -€1,760 | €57,510 | €65,994 | €62,922 | €76,645 | €70,628 | ▼ 7.9% |
| + Depreciation and write-downs630 | €20,635 | €34,315 | €20,678 | €12,568 | €21,781 | €27,137 | €26,894 | ▼ 0.9% |
| Operating cash flow (approximation) | €46,213 | €32,555 | €78,188 | €78,562 | €84,702 | €103,782 | €97,522 | ▼ 6.0% |
| Investment in fixed assets (approximation) | - | -€4,693 | -€3,232 | -€8,170 | -€75,778 | €0 | -€2,214 | - |
| Change in cash | - | -€2,542 | €46,289 | €54,874 | €64,395 | €71,969 | -€131,426 | - |
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, 17,811 companies had the same profile as Software Consult has now. Two years later, 96.5% were still going and 0.3% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
96.5%
was still going
3.1%
stopped otherwise
0.3%
went bankrupt
That fits the bankruptcy probability of Software Consult 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 17,811 companies, not a prediction for Software Consult. 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 13 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 16-07-2026 | 2026-00297493 | |
| 31-12-2024 | micro format | 24-06-2025 | 2025-00168805 | |
| 31-12-2023 | micro format | 12-07-2024 | 2024-00238384 | |
| 31-12-2022 | micro format | 27-07-2023 | 2023-00305190 | |
| 31-12-2021 | micro format | 24-06-2022 | 2022-20101394 | |
| 31-12-2020 | micro format | 01-07-2021 | 2021-31000114 | |
| 30-06-2019 | micro format | 10-01-2020 | 2020-00900461 | |
| 30-06-2018 | micro format | 31-01-2019 | 2019-03400545 | |
| 30-09-2016 | abbreviated format | 31-03-2017 | 2017-08600001 | |
| 30-09-2015 | abbreviated format | 30-03-2016 | 2016-08800556 |