SOLIDE
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 31-07-2026 at the NBB all 37 filings
Equity
€45,000▼ 18.0%
2024 · €54,848
Total assets
€56,810▼ 16.5%
2024 · €68,011
Net result
-€9,848▲ 60.8%
2024 · -€25,131
Working capital
€45,000▼ 18.0%
2024 · €54,848
In the rankings
#7 oldest company in Sint-Niklaas, Transport and storage sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€8,981
▲ 64.0%
2025
20182025
Net result
-€9,848
▲ 60.8%
2025
lowest quarter of the sector
20182025
Equity
€45,000
▼ 18.0%
2025
lowest quarter of the sector
20182025
Total assets
€56,810
▼ 16.5%
2025
lowest quarter of the sector
20182025
Debt
€11,811
▼ 10.3%
2025
20182025
Working capital
€45,000
▼ 18.0%
2025
middle half of the sector
20182025
Solvency
79.2%
▼ 1.4pp
2025
highest quarter of the sector
20182025
Current ratio
4.81
▼ 0.36
2025
highest quarter of the sector
20182025
Return on assets (ROA)
-17.3%
▲ 19.6pp
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€55,533-€76,697▲ 38.1%€67,289▼ 12.3%€45,114▼ 33.0%-€8,578€28,176-€24,925-€8,981▲ 64.0%
Net result€64,194-€73,069▲ 13.8%€61,489within the sector's middle half▼ 15.8%€29,112within the sector's middle half▼ 52.7%-€1,940below the sector's middle half€21,047within the sector's middle half-€25,131below the sector's middle half-€9,848below the sector's middle half▲ 60.8%
Equity-€102,799--€29,730▲ 71.1%€31,760below the sector's middle half€60,872below the sector's middle half▲ 91.7%€58,933below the sector's middle half▼ 3.2%€79,979below the sector's middle half▲ 35.7%€54,848below the sector's middle half▼ 31.4%€45,000below the sector's middle half▼ 18.0%
Total assets€40,755-€112,269▲ 175%€73,290below the sector's middle half▼ 34.7%€85,479below the sector's middle half▲ 16.6%€87,109below the sector's middle half▲ 1.9%€81,681below the sector's middle half▼ 6.2%€68,011below the sector's middle half▼ 16.7%€56,810below the sector's middle half▼ 16.5%
Debt€143,554-€141,999▼ 1.1%€41,531▼ 70.8%€24,607▼ 40.7%€28,176▲ 14.5%€1,702▼ 94.0%€13,163▲ 673%€11,811▼ 10.3%
Working capital-€102,799--€31,230▲ 69.6%€30,601within the sector's middle half€60,244within the sector's middle half▲ 96.9%€58,834within the sector's middle half▼ 2.3%€79,979within the sector's middle half▲ 35.9%€54,848within the sector's middle half▼ 31.4%€45,000within the sector's middle half▼ 18.0%
Solvency-252.2%--26.5%▲ 225.8pp43.3%within the sector's middle half▲ 69.8pp71.2%above the sector's middle half▲ 27.9pp67.7%above the sector's middle half▼ 3.6pp97.9%above the sector's middle half▲ 30.3pp80.6%above the sector's middle half▼ 17.3pp79.2%above the sector's middle half▼ 1.4pp
Current ratio0.28-0.78▲ 0.501.74within the sector's middle half▲ 0.963.45above the sector's middle half▲ 1.713.09above the sector's middle half▼ 0.3647.99above the sector's middle half▲ 44.905.17above the sector's middle half▼ 42.824.81above the sector's middle half▼ 0.36
Return on assets (ROA)157.5%-65.1%▼ 92.4pp83.9%above the sector's middle half▲ 18.8pp34.1%above the sector's middle half▼ 49.8pp-2.2%below the sector's middle half▼ 36.3pp25.8%above the sector's middle half▲ 28.0pp-37.0%below the sector's middle half▼ 62.7pp-17.3%below the sector's middle half▲ 19.6pp
above
within
below
The sector band is the middle half of the companies in Warehousing and support activities for transportation (NACE 52). 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 €8,981, smaller than the loss of €24,925 in 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €56,810
Equity
€45,000 ▼ 18.0%
Debt
€11,811 ▼ 10.3%
Debt's share of the balance-sheet total rises from 19.4% to 20.8%. Equity and debt are lower.
Key figures and ratios
Debt to equity
0.26▲
2024 · 0.24
ROE
-21.9%▲
2024 · -45.8%
Debt ≤ 1 year
€11,811▼
2024 · €13,163
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €432 | €530 | €530 | €98 | - | - | - |
| Other operating charges640/8 | - | - | - | €1,017 | €343 | €1,345 | €362 | €776 | ▲ 114% |
| Gross operating margin9900 | €56,154 | €77,215 | €68,750 | €46,661 | -€7,705 | €29,619 | -€24,563 | -€8,205 | ▲ 66.6% |
| Operating profit (loss)9901 | €55,533 | €76,697 | €67,289 | €45,114 | -€8,578 | €28,176 | -€24,925 | -€8,981 | ▲ 64.0% |
| Financial income75/76B | - | - | - | €66 | €8,066 | - | - | €106 | - |
| Recurring financial income75 | €103 | €1,262 | €68 | €66 | €8,066 | - | - | €106 | - |
| Financial charges65/66B | - | - | - | €1,531 | €1,427 | €427 | €206 | €974 | ▲ 372% |
| Recurring financial charges65 | €2,559 | €4,890 | €1,463 | €1,531 | €1,427 | €427 | €206 | €974 | ▲ 372% |
| Profit (loss) for the period before taxes9903 | €64,194 | €73,069 | €65,894 | €43,649 | -€1,940 | €27,749 | -€25,131 | -€9,848 | ▲ 60.8% |
| Income taxes67/77 | - | - | €4,405 | €14,537 | - | €6,702 | - | - | - |
| Profit (loss) for the period9904 | €64,194 | €73,069 | €61,489 | €29,112 | -€1,940 | €21,047 | -€25,131 | -€9,848 | ▲ 60.8% |
| Profit (loss) for the period to be appropriated9905 | €64,194 | €73,069 | €61,489 | €29,112 | -€1,940 | €21,047 | -€25,131 | -€9,848 | ▲ 60.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €40,755 | €112,269 | €73,290 | €85,479 | €87,109 | €81,681 | €68,011 | €56,810 | ▼ 16.5% |
| Fixed assets21/28 | - | €1,500 | €1,158 | €628 | €98 | - | - | - | - |
| Tangible fixed assets22/27 | - | - | €1,158 | €628 | €98 | - | - | - | - |
| Plant, machinery and equipment23 | - | - | - | €628 | €98 | - | - | - | - |
| Financial fixed assets28 | - | €1,500 | - | - | - | - | - | - | - |
| Current assets29/58 | €40,755 | €110,769 | €72,132 | €84,851 | €87,010 | €81,681 | €68,011 | €56,810 | ▼ 16.5% |
| Amounts receivable within one year40/41 | €16,978 | €84,834 | €44,802 | €64,627 | €67,583 | €53,544 | €22,206 | €12,921 | ▼ 41.8% |
| Trade receivables40 | - | - | - | €41,533 | €32,667 | €37,640 | - | €7,435 | - |
| Other amounts receivable41 | - | - | - | €23,094 | €34,916 | €15,904 | €22,206 | €5,485 | ▼ 75.3% |
| Cash at bank and in hand54/58 | €23,777 | €25,935 | €27,330 | €20,224 | €19,428 | €28,138 | €45,805 | €43,890 | ▼ 4.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €40,755 | €112,269 | €73,290 | €85,479 | €87,109 | €81,681 | €68,011 | €56,810 | ▼ 16.5% |
| Equity10/15 | -€102,799 | -€29,730 | €31,760 | €60,872 | €58,933 | €79,979 | €54,848 | €45,000 | ▼ 18.0% |
| Contributions10/11 | €24,789 | €24,789 | - | €24,789 | €24,789 | €24,789 | €24,789 | €24,789 | = |
| Reserves13 | €1,456 | €1,456 | €1,456 | €36,083 | €36,083 | €36,083 | €36,083 | €36,083 | = |
| Non-distributable reserves130/1 | - | - | - | €1,456 | €1,456 | €1,456 | €1,456 | €1,456 | = |
| Reserves not available under the articles1311 | - | - | - | €1,456 | €1,456 | €1,456 | €1,456 | €1,456 | = |
| Distributable reserves133 | - | - | - | €34,627 | €34,627 | €34,627 | €34,627 | €34,627 | = |
| Profit (loss) carried forward14 | -€129,044 | -€55,975 | €5,514 | - | -€1,940 | €19,107 | -€6,024 | -€15,872 | ▼ 163% |
| Amounts payable17/49 | €143,554 | €141,999 | €41,531 | €24,607 | €28,176 | €1,702 | €13,163 | €11,811 | ▼ 10.3% |
| Amounts payable within one year42/48 | €143,554 | €141,999 | €41,531 | €24,607 | €28,176 | €1,702 | €13,163 | €11,811 | ▼ 10.3% |
| Trade debts44 | €128,777 | €13,401 | €37,126 | €24,607 | €28,176 | - | - | - | - |
| Suppliers440/4 | - | - | - | €24,607 | €28,176 | - | - | - | - |
| Advances received on contracts in progress46 | - | - | - | - | - | - | €11,461 | €11,811 | ▲ 3.1% |
| Taxes, remuneration and social security45 | - | - | - | - | - | €1,702 | €1,702 | - | - |
| Taxes450/3 | - | - | - | - | - | €1,702 | €1,702 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €64,194 | €73,069 | €61,489 | €29,112 | -€1,940 | €21,047 | -€25,131 | -€9,848 | ▲ 60.8% |
| + Depreciation and write-downs630 | - | - | €432 | €530 | €530 | €98 | - | - | - |
| Operating cash flow (approximation) | €64,194 | €73,069 | €61,921 | €29,642 | -€1,410 | €21,145 | -€25,131 | -€9,848 | ▲ 60.8% |
| Investment in fixed assets (approximation) | - | - | -€90 | €0 | €0 | - | - | - | - |
| Change in cash | - | €2,158 | €1,395 | -€7,106 | -€796 | €8,710 | €17,667 | -€1,915 | - |
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, 5,831 companies had the same profile as SOLIDE has now. Two years later, 84.6% were still going and 1.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
84.6%
was still going
13.4%
stopped otherwise
1.7%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SOLIDE itself: 0.6% 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 5,831 companies, not a prediction for SOLIDE. 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 37 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 31-07-2026 | 2026-00365941 | |
| 31-12-2024 | abbreviated format | 29-08-2025 | 2025-00435422 | |
| 31-12-2023 | abbreviated format | 27-08-2024 | 2024-00373949 | |
| 31-12-2022 | abbreviated format | 29-08-2023 | 2023-00368954 | |
| 31-12-2021 | abbreviated format | 29-07-2022 | 2022-20245567 | |
| 31-12-2020 | abbreviated format | 31-08-2021 | 2021-58700497 | |
| 31-12-2019 | abbreviated format | 01-09-2020 | 2020-48300227 | |
| 31-12-2018 | abbreviated format | 20-08-2019 | 2019-47400303 | |
| 31-12-2017 | abbreviated format | 28-06-2018 | 2018-26600139 | |
| 31-12-2016 | abbreviated format | 29-06-2017 | 2017-22700576 |