SOLUTIONS4MATERIALS
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 25-06-2026 at the NBB all 30 filings
Turnover
€8.4m▲ 176%
2019 · €3.0m
EBIT margin
-0.2%▼ 8.3pp
2019 · 8.0%
Net result
-€71,795
2024 · €356,896
Working capital
-€208,821
2024 · €131,409
In the rankings
#7 employer in Herentals, Wholesale and retail trade sector#9 company by staff growth in Herentals, Wholesale and retail trade sector
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€8.4m
2025
20182025
Operating result
-€20,249
2025
20182025
Net result
-€71,795
2025
lowest quarter of the sector
20182025
EBIT margin
-0.2%
2025
20182025
Equity
€1.4m
▼ 4.7%
2025
highest quarter of the sector
20182025
Total assets
€6.8m
▲ 16.7%
2025
highest quarter of the sector
20182025
Debt
€5.4m
▲ 24.3%
2025
20182025
Working capital
-€208,821
2025
lowest quarter of the sector
20182025
Solvency
21.3%
▼ 4.8pp
2025
middle half of the sector
20182025
Current ratio
0.96
▼ 0.07
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
-1.1%
▼ 7.2pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
38.6
▲ 6.0%
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€3.0m€8.4m
Operating result-€0.1m-€0.2m-€0.03m€0.1m€0.4m▲ 245%€0.4m▼ 2.9%€0.5m▲ 48.0%-€0.02m
Net result-€0.1m-€0.2m-€0.1mbelow the sector's middle half€0.07mwithin the sector's middle half€0.3mabove the sector's middle half▲ 277%€0.2mabove the sector's middle half▼ 21.5%€0.4mabove the sector's middle half▲ 73.3%-€0.07mbelow the sector's middle half
EBIT margin8.0%-0.2%
Equity€0.7m-€0.7m▲ 1.9%€0.6mabove the sector's middle half▼ 15.1%€0.7mabove the sector's middle half▲ 11.1%€1.0mabove the sector's middle half▲ 37.7%€1.2mabove the sector's middle half▲ 21.5%€1.5mabove the sector's middle half▲ 30.7%€1.4mabove the sector's middle half▼ 4.7%
Total assets€3.4m-€3.3m▼ 0.9%€3.0mabove the sector's middle half▼ 10.5%€4.6mabove the sector's middle half▲ 55.0%€4.9mabove the sector's middle half▲ 5.9%€5.1mabove the sector's middle half▲ 5.0%€5.8mabove the sector's middle half▲ 13.7%€6.8mabove the sector's middle half▲ 16.7%
Debt€2.6m-€2.6m▼ 1.6%€2.3m▼ 9.2%€3.9m▲ 66.7%€3.9m▲ 0.3%€4.0m▲ 0.9%€4.3m▲ 8.7%€5.4m▲ 24.3%
Working capital-€0.3m--€0.4m▼ 35.0%-€0.8mbelow the sector's middle half▼ 82.5%-€0.8mbelow the sector's middle half▼ 0.9%-€0.4mbelow the sector's middle half▲ 47.2%-€0.2mbelow the sector's middle half▲ 61.2%€0.1mwithin the sector's middle half-€0.2mbelow the sector's middle half
Solvency21.6%-22.2%▲ 0.6pp21.0%within the sector's middle half▼ 1.1pp15.1%below the sector's middle half▼ 6.0pp19.6%within the sector's middle half▲ 4.5pp22.7%within the sector's middle half▲ 3.1pp26.1%within the sector's middle half▲ 3.4pp21.3%within the sector's middle half▼ 4.8pp
Current ratio0.88-0.84▼ 0.040.66below the sector's middle half▼ 0.180.80below the sector's middle half▲ 0.140.90below the sector's middle half▲ 0.100.96below the sector's middle half▲ 0.061.03below the sector's middle half▲ 0.070.96below the sector's middle half▼ 0.07
Return on assets (ROA)-3.5%-4.7%▲ 8.1pp-3.7%below the sector's middle half▼ 8.4pp1.5%within the sector's middle half▲ 5.2pp5.4%within the sector's middle half▲ 3.9pp4.0%within the sector's middle half▼ 1.4pp6.1%within the sector's middle half▲ 2.1pp-1.1%below the sector's middle half▼ 7.2pp
Staff (FTE)29.8-26.7▼ 10.4%19.5above the sector's middle half▼ 27.0%27.8above the sector's middle half▲ 42.6%35.3above the sector's middle half▲ 27.0%38.7above the sector's middle half▲ 9.6%36.4above the sector's middle half▼ 5.9%38.6above the sector's middle half▲ 6.0%
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). 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 €20,249, after a profit of €541,365 in 2024. It is the lowest result since 2021.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €6.8m
Fixed assets
€1.7m ▲ 15.2%
Current assets
€5.1m ▲ 17.2%
Equity and liabilities €6.8m
Equity
€1.4m ▼ 4.7%
Debt
€5.4m ▲ 24.3%
Debt's share of the balance-sheet total rises from 73.9% to 78.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€615,240▼
2024 · €1.1m
Cash flow
€563,695▼
2024 · €938,232
Quick ratio
0.73▼
2024 · 0.82
Debt to equity
3.70▲
2024 · 2.83
ROE
-5.0%▼
2024 · 23.5%
Interest coverage
21.54▼
2024 · 53.24
Debt ≤ 1 year
€5.4m▲
2024 · €4.3m
Income taxes
€22,981▼
2024 · €163,537
Customer credit
164 days
Supplier credit
79 days
Staff costs
€2.9m▲
2024 · €2.5m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 34 | 40 | 36 | 43 | 41 |
| full-time | 30 | 34 | 27 | 34 | 33 |
| part-time | 4 | 6 | 9 | 9 | 8 |
| in full-time equivalents | 32.7 | 38.6 | 33.7 | 41 | 39.5 |
| Average over the year, in full-time equivalents | 27.8 | 35.3 | 38.7 | 36.4 | 38.6 |
| On a permanent contract | 34 | 39 | 36 | 43 | 41 |
| Joined | 17 | 16 | 10 | 16 | 9 |
| Left | 7 | 10 | 14 | 9 | 11 |
| Training hours | 228 | 349 | 200 | 533 | 854 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €659,415 | €518,507 | €609,913 | €462,970 | €534,111 |
| Intangible fixed assets | €22,624 | €53,279 | €19,916 | €437,066 | €346,245 |
| Financial fixed assets | - | €58,253 | - | - | - |
| Depreciation and write-downs of the year | €492,154 | €508,550 | €557,782 | €581,336 | €635,489 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | €3.0m | - | - | - | - | - | €8.4m | - |
| Non-recurring operating income76A | - | €0.01m | - | €0.03m | €0.002m | - | €0.07m | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €1.3m | - | - | - | - | - | €5.6m | - |
| Remuneration, social security and pensions62 | - | €1.1m | - | €1.7m | €2.1m | €2.5m | €2.5m | €2.9m | ▲ 16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.3m | €0.3m | €0.4m | €0.5m | €0.5m | €0.6m | €0.6m | €0.6m | ▲ 9.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €0.03m | -€0.001m | - | €0.01m | €0.03m | ▲ 198% |
| Other operating charges640/8 | - | €0.2m | - | €0.01m | €0.007m | €0.02m | €0.009m | €0.008m | ▼ 14.2% |
| Non-recurring operating charges66A | - | €15 | - | €0.001m | €0.3m | €0.1m | €0.04m | €0.005m | ▼ 87.4% |
| Gross operating margin9900 | €1.8m | €1.8m | €1.3m | €2.4m | €3.3m | €3.5m | €3.7m | €3.6m | ▼ 3.0% |
| Operating profit (loss)9901 | -€0.1m | €0.2m | -€0.03m | €0.1m | €0.4m | €0.4m | €0.5m | -€0.02m | - |
| Financial income75/76B | - | €0.001m | - | €0.002m | €0.001m | €0.001m | €154 | - | - |
| Recurring financial income75 | €0.001m | €0.001m | €209 | €0.002m | €0.001m | €0.001m | €154 | - | - |
| Financial charges65/66B | - | €0.02m | - | €0.03m | €0.02m | €0.02m | €0.02m | €0.03m | ▲ 35.5% |
| Recurring financial charges65 | €0.01m | €0.02m | €0.08m | €0.03m | €0.02m | €0.02m | €0.02m | €0.03m | ▲ 35.5% |
| Profit (loss) for the period before taxes9903 | -€0.1m | €0.2m | -€0.1m | €0.08m | €0.4m | €0.3m | €0.5m | -€0.05m | - |
| Income taxes67/77 | -€437 | €0.07m | €0.005m | €0.02m | €0.09m | €0.1m | €0.2m | €0.02m | ▼ 85.9% |
| Profit (loss) for the period9904 | -€0.1m | €0.2m | -€0.1m | €0.07m | €0.3m | €0.2m | €0.4m | -€0.07m | - |
| Profit (loss) for the period to be appropriated9905 | -€0.1m | €0.2m | -€0.1m | €0.07m | €0.3m | €0.2m | €0.4m | -€0.07m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €3.4m | €3.3m | €3.0m | €4.6m | €4.9m | €5.1m | €5.8m | €6.8m | ▲ 16.7% |
| Fixed assets21/28 | €1.0m | €1.2m | €1.5m | €1.6m | €1.4m | €1.4m | €1.4m | €1.7m | ▲ 15.2% |
| Intangible fixed assets21 | €0.03m | €0.03m | €0.04m | €0.03m | €0.06m | €0.06m | €0.4m | €0.6m | ▲ 43.3% |
| Tangible fixed assets22/27 | €1.0m | €1.1m | €1.5m | €1.5m | €1.3m | €1.4m | €1.0m | €1.0m | ▲ 2.8% |
| Plant, machinery and equipment23 | - | €0.8m | - | €0.9m | €0.9m | €0.9m | €0.6m | €0.6m | ▲ 6.3% |
| Furniture and vehicles24 | - | €0.2m | - | €0.3m | €0.3m | €0.4m | €0.4m | €0.4m | ▲ 0.1% |
| Other tangible fixed assets26 | - | €0.1m | - | €0.3m | €0.05m | €0.04m | €0.05m | €0.05m | ▼ 13.0% |
| Financial fixed assets28 | - | - | - | - | €0.06m | €0.001m | €0.001m | €0.001m | = |
| Current assets29/58 | €2.3m | €2.2m | €1.5m | €3.1m | €3.5m | €3.7m | €4.4m | €5.1m | ▲ 17.2% |
| Stocks and contracts in progress3 | €0.4m | €0.5m | €0.4m | €0.5m | €1.2m | €0.9m | €0.9m | €1.2m | ▲ 36.9% |
| Stocks30/36 | - | €0.5m | - | €0.5m | €1.2m | €0.9m | €0.9m | €1.2m | ▲ 36.9% |
| Amounts receivable within one year40/41 | €1.9m | €1.7m | €1.0m | €2.6m | €2.3m | €2.7m | €3.5m | €3.9m | ▲ 11.6% |
| Trade receivables40 | - | €1.6m | - | €2.5m | €2.3m | €2.7m | €3.5m | €3.8m | ▲ 9.1% |
| Other amounts receivable41 | - | €0.07m | - | €0.06m | €0 | - | €0.003m | €0.09m | ▲ 31× |
| Cash at bank and in hand54/58 | €0.001m | €196 | €0.1m | €450 | €450 | €0.001m | - | - | - |
| Deferred charges and accrued income490/1 | - | - | - | €0.004m | €0.05m | €0.1m | €0.04m | €0.07m | ▲ 68.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €3.4m | €3.3m | €3.0m | €4.6m | €4.9m | €5.1m | €5.8m | €6.8m | ▲ 16.7% |
| Equity10/15 | €0.7m | €0.7m | €0.6m | €0.7m | €1.0m | €1.2m | €1.5m | €1.4m | ▼ 4.7% |
| Contributions10/11 | €1.0m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Capital10 | - | €0.6m | - | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Issued capital100 | - | €0.6m | - | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Reserves13 | €0.02m | €0.2m | €0.06m | €0.1m | €0.4m | €0.6m | €1.0m | €0.9m | ▼ 7.5% |
| Non-distributable reserves130/1 | - | - | - | €0.02m | €0.03m | €0.04m | €0.06m | €0.06m | = |
| Legal reserve130 | - | €0.01m | - | €0.02m | €0.03m | €0.04m | €0.06m | €0.06m | = |
| Distributable reserves133 | - | €0.2m | - | €0.1m | €0.4m | €0.6m | €0.9m | €0.8m | ▼ 8.0% |
| Profit (loss) carried forward14 | -€0.3m | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €2.6m | €2.6m | €2.3m | €3.9m | €3.9m | €4.0m | €4.3m | €5.4m | ▲ 24.3% |
| Amounts payable within one year42/48 | €2.6m | €2.6m | €2.2m | €3.8m | €3.9m | €3.9m | €4.3m | €5.4m | ▲ 25.8% |
| Financial debts43 | - | €0.02m | - | - | - | - | - | - | - |
| Other loans439 | - | €0.02m | - | - | - | - | - | - | - |
| Trade debts44 | €0.6m | €0.5m | €0.4m | €1.1m | €0.9m | €0.9m | €0.9m | €1.2m | ▲ 31.0% |
| Suppliers440/4 | - | €0.5m | - | €1.1m | €0.9m | €0.9m | €0.9m | €1.2m | ▲ 31.0% |
| Taxes, remuneration and social security45 | - | €0.4m | - | €0.4m | €0.5m | €0.5m | €0.5m | €0.5m | ▼ 5.1% |
| Taxes450/3 | - | €0.2m | - | €0.1m | €0.2m | €0.2m | €0.2m | €0.1m | ▼ 15.5% |
| Remuneration and social security454/9 | - | €0.2m | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 0.4% |
| Other amounts payable47/48 | - | €1.7m | - | €2.3m | €2.5m | €2.5m | €2.8m | €3.7m | ▲ 29.5% |
| Accrued charges and deferred income492/3 | - | €0.001m | - | €0.1m | €0.06m | €0.1m | €0.05m | €0.004m | ▼ 92.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€116,083 | €155,572 | -€110,919 | €69,589 | €262,306 | €205,949 | €356,896 | -€71,795 | - |
| + Depreciation and write-downs630 | €265,180 | €268,602 | €371,617 | €492,154 | €508,550 | €557,782 | €581,336 | €635,489 | ▲ 9.3% |
| Operating cash flow (approximation) | €149,097 | €424,174 | €260,698 | €561,743 | €770,856 | €763,731 | €938,232 | €563,695 | ▼ 39.9% |
| Investment in fixed assets (approximation) | - | -€390,193 | -€720,160 | -€551,493 | -€369,569 | -€553,070 | -€605,451 | -€855,292 | ▼ 41.3% |
| Change in cash | - | -€1,262 | €97,895 | -€97,641 | €0 | €500 | - | - | - |
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, 2,507 companies had the same profile as SOLUTIONS4MATERIALS has now. Two years later, 96.4% were still going and 1.6% had gone bankrupt.
- Small
- 20 years or older
- solvency 10 to 30%
- a small loss
96.4%
was still going
1.8%
stopped otherwise
1.6%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SOLUTIONS4MATERIALS itself: 1.0% 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 2,507 companies, not a prediction for SOLUTIONS4MATERIALS. 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 30 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 25-06-2026 | 2026-00205940 | |
| 31-12-2024 | abbreviated format | 23-06-2025 | 2025-00170934 | |
| 31-12-2023 | abbreviated format | 08-07-2024 | 2024-00227839 | |
| 31-12-2022 | abbreviated format | 17-07-2023 | 2023-00247008 | |
| 31-12-2021 | abbreviated format | 19-07-2022 | 2022-20210335 | |
| 31-12-2020 | abbreviated format | 15-07-2021 | 2021-37200228 | |
| 31-12-2019 | abbreviated format | 28-08-2020 | 2020-50600351 | |
| 31-12-2018 | abbreviated format | 20-06-2019 | 2019-20600407 | |
| 31-12-2017 | abbreviated format | 16-07-2018 | 2018-32800127 | |
| 31-12-2016 | abbreviated format | 03-07-2017 | 2017-26500509 |