SOMAR
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 23-07-2026 at the NBB all 30 filings
Turnover
≈ €170,000
Estimated: probably between €130,000 and €230,000
Total assets
€128,727▼ 11.8%
2024 · €145,884
Net result
€7,946▼ 43.9%
2024 · €14,172
Working capital
€30,931▼ 38.1%
2024 · €49,970
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€13,806
▼ 36.9%
2025
20182025
Net result
€7,946
▼ 43.9%
2025
middle half of the sector
20182025
Equity
€93,438
▼ 21.1%
2025
highest quarter of the sector
20182025
Total assets
€128,727
▼ 11.8%
2025
middle half of the sector
20182025
Debt
€35,289
▲ 28.6%
2025
20182025
Working capital
€30,931
▼ 38.1%
2025
middle half of the sector
20182025
Solvency
72.6%
▼ 8.6pp
2025
highest quarter of the sector
20182025
Current ratio
1.93
▼ 1.98
2025
middle half of the sector
20182025
Return on assets (ROA)
6.2%
▼ 3.5pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€10,646-€6,210▼ 41.7%€27,358▲ 341%€13,912▼ 49.1%€13,333▼ 4.2%€11,491▼ 13.8%€21,871▲ 90.3%€13,806▼ 36.9%
Net result€5,792-€4,118▼ 28.9%€19,104above the sector's middle half▲ 364%€9,737within the sector's middle half▼ 49.0%€9,196within the sector's middle half▼ 5.6%€6,714within the sector's middle half▼ 27.0%€14,172within the sector's middle half▲ 111%€7,946within the sector's middle half▼ 43.9%
Equity€65,300-€69,418▲ 6.3%€88,522above the sector's middle half▲ 27.5%€94,160above the sector's middle half▲ 6.4%€103,356above the sector's middle half▲ 9.8%€110,070above the sector's middle half▲ 6.5%€118,451above the sector's middle half▲ 7.6%€93,438above the sector's middle half▼ 21.1%
Total assets€102,733-€127,623▲ 24.2%€169,719within the sector's middle half▲ 33.0%€164,249within the sector's middle half▼ 3.2%€148,658within the sector's middle half▼ 9.5%€148,549within the sector's middle half▼ 0.1%€145,884within the sector's middle half▼ 1.8%€128,727within the sector's middle half▼ 11.8%
Debt€37,433-€58,205▲ 55.5%€81,197▲ 39.5%€70,088▼ 13.7%€45,302▼ 35.4%€38,478▼ 15.1%€27,433▼ 28.7%€35,289▲ 28.6%
Working capital€9,674--€10,916€16,498within the sector's middle half€21,530within the sector's middle half▲ 30.5%€29,491within the sector's middle half▲ 37.0%€41,024above the sector's middle half▲ 39.1%€49,970above the sector's middle half▲ 21.8%€30,931within the sector's middle half▼ 38.1%
Solvency63.6%-54.4%▼ 9.2pp52.2%within the sector's middle half▼ 2.2pp57.3%within the sector's middle half▲ 5.2pp69.5%above the sector's middle half▲ 12.2pp74.1%above the sector's middle half▲ 4.6pp81.2%above the sector's middle half▲ 7.1pp72.6%above the sector's middle half▼ 8.6pp
Current ratio1.30-0.81▼ 0.491.41within the sector's middle half▲ 0.601.59within the sector's middle half▲ 0.182.57above the sector's middle half▲ 0.983.05above the sector's middle half▲ 0.493.91above the sector's middle half▲ 0.861.93within the sector's middle half▼ 1.98
Return on assets (ROA)5.6%-3.2%▼ 2.4pp11.3%within the sector's middle half▲ 8.0pp5.9%within the sector's middle half▼ 5.3pp6.2%within the sector's middle half▲ 0.3pp4.5%within the sector's middle half▼ 1.7pp9.7%within the sector's middle half▲ 5.2pp6.2%within the sector's middle half▼ 3.5pp
above
within
below
The sector band is the middle half of the companies in Food and beverage service activities (NACE 56). 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 37% 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 €128,727
Fixed assets
€64,574 ▼ 18.0%
Current assets
€64,154 ▼ 4.5%
Equity and liabilities €128,727
Equity
€93,438 ▼ 21.1%
Debt
€35,289 ▲ 28.6%
Debt's share of the balance-sheet total rises from 18.8% to 27.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€29,896▼
2024 · €38,950
Cash flow
€24,036▼
2024 · €31,251
Quick ratio
1.75▼
2024 · 3.55
Debt to equity
0.38▲
2024 · 0.23
ROE
8.5%▼
2024 · 12.0%
Interest coverage
26.61▼
2024 · 36.52
Debt ≤ 1 year
€33,223▲
2024 · €17,177
Debt > 1 year
€1,385▼
2024 · €9,617
Income taxes
€4,737▼
2024 · €6,632
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 | €29,570 | €14,485 | €5,322 | €8,281 | €1,926 |
| Depreciation and write-downs of the year | €30,663 | €17,270 | €18,125 | €17,079 | €16,090 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €6,108 | €3,137 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18,860 | €23,346 | €27,519 | €30,663 | €17,270 | €18,125 | €17,079 | €16,090 | ▼ 5.8% |
| Other operating charges640/8 | - | - | - | €1,704 | €2,087 | €1,411 | €1,283 | €1,477 | ▲ 15.1% |
| Non-recurring operating charges66A | - | - | - | €611 | €364 | - | - | - | - |
| Gross operating margin9900 | €32,431 | €31,414 | €56,578 | €46,890 | €33,055 | €31,027 | €40,233 | €31,373 | ▼ 22.0% |
| Operating profit (loss)9901 | €10,646 | €6,210 | €27,358 | €13,912 | €13,333 | €11,491 | €21,871 | €13,806 | ▼ 36.9% |
| Financial income75/76B | - | - | - | €33 | €18 | €58 | - | €0 | - |
| Recurring financial income75 | €1 | €0 | €50 | €33 | €18 | €58 | - | €0 | - |
| Financial charges65/66B | - | - | - | €1,266 | €1,284 | €1,063 | €1,067 | €1,123 | ▲ 5.3% |
| Recurring financial charges65 | €1,105 | €653 | €1,339 | €1,266 | €1,284 | €1,063 | €1,067 | €1,123 | ▲ 5.3% |
| Profit (loss) for the period before taxes9903 | €9,541 | €5,557 | €26,069 | €12,679 | €12,067 | €10,486 | €20,805 | €12,683 | ▼ 39.0% |
| Income taxes67/77 | €3,749 | €1,438 | €6,965 | €2,942 | €2,872 | €3,772 | €6,632 | €4,737 | ▼ 28.6% |
| Profit (loss) for the period9904 | €5,792 | €4,118 | €19,104 | €9,737 | €9,196 | €6,714 | €14,172 | €7,946 | ▼ 43.9% |
| Profit (loss) for the period to be appropriated9905 | €5,792 | €4,118 | €19,104 | €9,737 | €9,196 | €6,714 | €14,172 | €7,946 | ▼ 43.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €102,733 | €127,623 | €169,719 | €164,249 | €148,658 | €148,549 | €145,884 | €128,727 | ▼ 11.8% |
| Fixed assets21/28 | €60,766 | €80,666 | €113,232 | €106,135 | €100,337 | €87,535 | €78,737 | €64,574 | ▼ 18.0% |
| Intangible fixed assets21 | €24,000 | €16,000 | €8,000 | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €36,766 | €64,666 | €105,232 | €106,135 | €100,337 | €87,535 | €78,737 | €64,574 | ▼ 18.0% |
| Land and buildings22 | - | - | - | €44,211 | €47,236 | €43,350 | €43,482 | €35,518 | ▼ 18.3% |
| Plant, machinery and equipment23 | - | - | - | €50,803 | €42,261 | €34,722 | €27,651 | €22,589 | ▼ 18.3% |
| Furniture and vehicles24 | - | - | - | €11,121 | €10,840 | €9,463 | €7,604 | €6,466 | ▼ 15.0% |
| Current assets29/58 | €41,967 | €46,957 | €56,488 | €58,114 | €48,320 | €61,014 | €67,147 | €64,154 | ▼ 4.5% |
| Stocks and contracts in progress3 | €6,518 | €7,195 | €7,226 | €7,051 | €7,580 | €5,811 | €6,111 | €6,127 | ▲ 0.3% |
| Stocks30/36 | - | - | - | €7,051 | €7,580 | €5,811 | €6,111 | €6,127 | ▲ 0.3% |
| Amounts receivable within one year40/41 | €3,481 | €3,706 | €14,714 | €25,816 | €7,031 | €11,014 | €3,782 | €15,801 | ▲ 318% |
| Trade receivables40 | - | - | - | €21,271 | €1,830 | €7,516 | €859 | €13,976 | ▲ 16× |
| Other amounts receivable41 | - | - | - | €4,545 | €5,201 | €3,498 | €2,922 | €1,825 | ▼ 37.6% |
| Cash at bank and in hand54/58 | €29,290 | €35,180 | €32,053 | €22,851 | €31,628 | €41,421 | €53,445 | €31,364 | ▼ 41.3% |
| Deferred charges and accrued income490/1 | - | - | - | €2,396 | €2,081 | €2,768 | €3,810 | €10,862 | ▲ 185% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €102,733 | €127,623 | €169,719 | €164,249 | €148,658 | €148,549 | €145,884 | €128,727 | ▼ 11.8% |
| Equity10/15 | €65,300 | €69,418 | €88,522 | €94,160 | €103,356 | €110,070 | €118,451 | €93,438 | ▼ 21.1% |
| Contributions10/11 | €18,592 | €18,592 | - | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €46,708 | €50,826 | €69,930 | €75,568 | €84,764 | €91,478 | €99,859 | €74,846 | ▼ 25.0% |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,859 | €1,859 | - | - | - | - |
| Distributable reserves133 | - | - | - | €73,709 | €82,905 | €91,478 | €99,859 | €74,846 | ▼ 25.0% |
| Amounts payable17/49 | €37,433 | €58,205 | €81,197 | €70,088 | €45,302 | €38,478 | €27,433 | €35,289 | ▲ 28.6% |
| Amounts payable after more than one year17 | €5,139 | €284 | €41,207 | €33,505 | €25,674 | €17,712 | €9,617 | €1,385 | ▼ 85.6% |
| Financial debts170/4 | - | - | - | €33,505 | €25,674 | €17,712 | €9,617 | €1,385 | ▼ 85.6% |
| Amounts payable within one year42/48 | €32,294 | €57,873 | €39,990 | €36,583 | €18,830 | €19,990 | €17,177 | €33,223 | ▲ 93.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €7,702 | €7,831 | €7,961 | €8,096 | €8,231 | ▲ 1.7% |
| Trade debts44 | €12,182 | €40,827 | €27,212 | €24,656 | €8,195 | €9,777 | €7,213 | €23,702 | ▲ 229% |
| Suppliers440/4 | - | - | - | €24,656 | €8,195 | €9,777 | €7,213 | €23,702 | ▲ 229% |
| Taxes, remuneration and social security45 | - | - | - | €3,977 | €2,804 | €2,252 | €1,417 | €973 | ▼ 31.4% |
| Taxes450/3 | - | - | - | €3,977 | €2,804 | €2,252 | €1,417 | €973 | ▼ 31.4% |
| Other amounts payable47/48 | - | - | - | €248 | - | - | €450 | €317 | ▼ 29.7% |
| Accrued charges and deferred income492/3 | - | - | - | - | €798 | €776 | €640 | €681 | ▲ 6.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,792 | €4,118 | €19,104 | €9,737 | €9,196 | €6,714 | €14,172 | €7,946 | ▼ 43.9% |
| + Depreciation and write-downs630 | €18,860 | €23,346 | €27,519 | €30,663 | €17,270 | €18,125 | €17,079 | €16,090 | ▼ 5.8% |
| Operating cash flow (approximation) | €24,652 | €27,464 | €46,623 | €40,400 | €26,466 | €24,840 | €31,251 | €24,036 | ▼ 23.1% |
| Investment in fixed assets (approximation) | - | -€43,247 | -€60,084 | -€23,566 | -€11,473 | -€5,322 | -€8,281 | -€1,926 | ▲ 76.7% |
| Change in cash | - | €5,890 | -€3,127 | -€9,202 | €8,777 | €9,793 | €12,023 | -€22,081 | - |
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, 31,368 companies had the same profile as SOMAR has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of SOMAR itself: 0.2% 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 31,368 companies, not a prediction for SOMAR. 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 | micro format | 23-07-2026 | 2026-00320411 | |
| 31-12-2024 | micro format | 26-08-2025 | 2025-00402916 | |
| 31-12-2023 | micro format | 24-07-2024 | 2024-00276838 | |
| 31-12-2022 | micro format | 29-08-2023 | 2023-00366010 | |
| 31-12-2021 | micro format | 30-06-2022 | 2022-20110663 | |
| 31-12-2020 | micro format | 19-08-2021 | 2021-49800414 | |
| 31-12-2019 | micro format | 31-08-2020 | 2020-46800348 | |
| 31-12-2018 | micro format | 21-08-2019 | 2019-47900281 | |
| 31-12-2017 | micro format | 04-07-2018 | 2018-27500557 | |
| 31-12-2016 | micro format | 19-06-2017 | 2017-17900326 |