Sollenberg
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 29-07-2026 at the NBB all 14 filings
Equity
-€23,681▼ 4.9%
2024 · -€22,575
Total assets
€35,357▼ 0.1%
2024 · €35,390
Net result
-€1,105▲ 56.1%
2024 · -€2,517
Working capital
-€8,939▲ 84.5%
2024 · -€57,833
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€1,073
▲ 56.9%
2025
20182025
Net result
-€1,105
▲ 56.1%
2025
middle half of the sector
20182025
Equity
-€23,681
▼ 4.9%
2025
lowest quarter of the sector
20182025
Total assets
€35,357
▼ 0.1%
2025
lowest quarter of the sector
20182025
Debt
€59,038
▲ 1.9%
2025
20182025
Working capital
-€8,939
▲ 84.5%
2025
middle half of the sector
20182025
Solvency
-67.0%
▼ 3.2pp
2025
lowest quarter of the sector
20182025
Current ratio
0.01
▲ 0.01
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
-3.1%
▲ 4.0pp
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-€799--€363▲ 54.5%-€2,804▼ 672%-€1,438▲ 48.7%-€3,412▼ 137%-€1,016▲ 70.2%-€2,486▼ 145%-€1,073▲ 56.9%
Net result-€814--€382▲ 53.1%-€2,829within the sector's middle half▼ 641%-€1,468within the sector's middle half▲ 48.1%-€3,441within the sector's middle half▼ 134%-€1,045within the sector's middle half▲ 69.6%-€2,517within the sector's middle half▼ 141%-€1,105within the sector's middle half▲ 56.1%
Equity-€10,892--€11,274▼ 3.5%-€14,103below the sector's middle half▼ 25.1%-€15,572below the sector's middle half▼ 10.4%-€19,013below the sector's middle half▼ 22.1%-€20,058below the sector's middle half▼ 5.5%-€22,575below the sector's middle half▼ 12.6%-€23,681below the sector's middle half▼ 4.9%
Total assets€37,172-€35,556▼ 4.3%€35,531below the sector's middle half▼ 0.1%€35,602below the sector's middle half▲ 0.2%€35,742below the sector's middle half▲ 0.4%€35,423below the sector's middle half▼ 0.9%€35,390below the sector's middle half▼ 0.1%€35,357below the sector's middle half▼ 0.1%
Debt€48,064-€46,830▼ 2.6%€49,634▲ 6.0%€51,174▲ 3.1%€54,755▲ 7.0%€55,481▲ 1.3%€57,965▲ 4.5%€59,038▲ 1.9%
Working capital-€46,150--€46,532▼ 0.8%-€49,361within the sector's middle half▼ 6.1%-€50,830within the sector's middle half▼ 3.0%-€54,271within the sector's middle half▼ 6.8%-€55,316within the sector's middle half▼ 1.9%-€57,833within the sector's middle half▼ 4.6%-€8,939within the sector's middle half▲ 84.5%
Solvency-29.3%--31.7%▼ 2.4pp-39.7%below the sector's middle half▼ 8.0pp-43.7%below the sector's middle half▼ 4.0pp-53.2%below the sector's middle half▼ 9.5pp-56.6%below the sector's middle half▼ 3.4pp-63.8%below the sector's middle half▼ 7.2pp-67.0%below the sector's middle half▼ 3.2pp
Current ratio0.04-0.01▼ 0.030.01below the sector's middle half=0.01below the sector's middle half=0.01below the sector's middle half=0.00below the sector's middle half▼ 0.010.00below the sector's middle half=0.01below the sector's middle half▲ 0.01
Return on assets (ROA)-2.2%--1.1%▲ 1.1pp-8.0%below the sector's middle half▼ 6.9pp-4.1%below the sector's middle half▲ 3.8pp-9.6%below the sector's middle half▼ 5.5pp-3.0%below the sector's middle half▲ 6.7pp-7.1%below the sector's middle half▼ 4.2pp-3.1%below the sector's middle half▲ 4.0pp
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). 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 €1,073, smaller than the loss of €2,486 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €35,357
Fixed assets
€35,258 =
Current assets
€99 ▼ 24.7%
Equity and liabilities
Equity-€23,681
Debt€59,038
Equity is negative. Debt (€59,038) exceeds the balance-sheet total (€35,357).
Key figures and ratios
Debt ≤ 1 year
€9,038▼
2024 · €57,965
Debt > 1 year
€50,000
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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 |
|---|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €32 | - | - | - | - | - |
| Gross operating margin9900 | -€799 | -€363 | -€2,804 | -€1,407 | -€3,412 | -€1,016 | -€2,486 | -€1,073 | ▲ 56.9% |
| Operating profit (loss)9901 | -€799 | -€363 | -€2,804 | -€1,438 | -€3,412 | -€1,016 | -€2,486 | -€1,073 | ▲ 56.9% |
| Financial charges65/66B | - | - | - | €30 | €29 | €29 | €31 | €33 | ▲ 4.8% |
| Recurring financial charges65 | €16 | €19 | €25 | €30 | €29 | €29 | €31 | €33 | ▲ 4.8% |
| Profit (loss) for the period before taxes9903 | -€814 | -€382 | -€2,829 | -€1,468 | -€3,441 | -€1,045 | -€2,517 | -€1,105 | ▲ 56.1% |
| Profit (loss) for the period9904 | -€814 | -€382 | -€2,829 | -€1,468 | -€3,441 | -€1,045 | -€2,517 | -€1,105 | ▲ 56.1% |
| Profit (loss) for the period to be appropriated9905 | -€814 | -€382 | -€2,829 | -€1,468 | -€3,441 | -€1,045 | -€2,517 | -€1,105 | ▲ 56.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €37,172 | €35,556 | €35,531 | €35,602 | €35,742 | €35,423 | €35,390 | €35,357 | ▼ 0.1% |
| Fixed assets21/28 | €35,258 | €35,258 | €35,258 | €35,258 | €35,258 | €35,258 | €35,258 | €35,258 | = |
| Tangible fixed assets22/27 | €35,258 | €35,258 | €35,258 | €35,258 | €35,258 | €35,258 | €35,258 | €35,258 | = |
| Land and buildings22 | - | - | - | €35,258 | €35,258 | €35,258 | €35,258 | €35,258 | = |
| Current assets29/58 | €1,914 | €298 | €273 | €344 | €484 | €165 | €132 | €99 | ▼ 24.7% |
| Cash at bank and in hand54/58 | €1,914 | €298 | €273 | €344 | €484 | €165 | €132 | €99 | ▼ 24.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €37,172 | €35,556 | €35,531 | €35,602 | €35,742 | €35,423 | €35,390 | €35,357 | ▼ 0.1% |
| Equity10/15 | -€10,892 | -€11,274 | -€14,103 | -€15,572 | -€19,013 | -€20,058 | -€22,575 | -€23,681 | ▼ 4.9% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Profit (loss) carried forward14 | -€17,092 | -€17,474 | -€20,303 | -€21,772 | -€25,213 | -€26,258 | -€28,775 | -€29,881 | ▼ 3.8% |
| Amounts payable17/49 | €48,064 | €46,830 | €49,634 | €51,174 | €54,755 | €55,481 | €57,965 | €59,038 | ▲ 1.9% |
| Amounts payable after more than one year17 | - | - | - | - | - | - | - | €50,000 | - |
| Financial debts170/4 | - | - | - | - | - | - | - | €50,000 | - |
| Amounts payable within one year42/48 | €48,064 | €46,830 | €49,634 | €51,174 | €54,755 | €55,481 | €57,965 | €9,038 | ▼ 84.4% |
| Trade debts44 | €1,234 | - | €2,804 | €944 | €1,525 | €2,251 | €3,235 | €950 | ▼ 70.6% |
| Suppliers440/4 | - | - | - | €944 | €1,525 | €2,251 | €3,235 | €950 | ▼ 70.6% |
| Other amounts payable47/48 | - | - | - | €50,230 | €53,230 | €53,230 | €54,730 | €8,088 | ▼ 85.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€814 | -€382 | -€2,829 | -€1,468 | -€3,441 | -€1,045 | -€2,517 | -€1,105 | ▲ 56.1% |
| Operating cash flow (approximation) | -€814 | -€382 | -€2,829 | -€1,468 | -€3,441 | -€1,045 | -€2,517 | -€1,105 | ▲ 56.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€1,616 | -€25 | €71 | €140 | -€319 | -€33 | -€33 | ▲ 1.5% |
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, 2,333 companies had the same profile as Sollenberg has now. Two years later, 90.5% were still going and 2.8% had gone bankrupt.
- Micro
- 10 to 20 years old
- negative equity
- a small loss
90.5%
was still going
5.8%
stopped otherwise
2.8%
went bankrupt
Another 0.8% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Sollenberg itself: 0.7% 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 2,333 companies, not a prediction for Sollenberg. 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 14 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 29-07-2026 | 2026-00361587 | |
| 31-12-2024 | micro format | 15-07-2025 | 2025-00285474 | |
| 31-12-2023 | micro format | 29-08-2024 | 2024-00439189 | |
| 31-12-2022 | micro format | 29-07-2023 | 2023-00300506 | |
| 31-12-2021 | micro format | 16-07-2022 | 2022-20198758 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-65700419 | |
| 31-12-2019 | micro format | 24-08-2020 | 2020-47100112 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-60800045 | |
| 31-12-2017 | abbreviated format | 28-08-2018 | 2018-51700455 | |
| 31-12-2016 | abbreviated format | 28-08-2017 | 2017-47900080 |