Sonlo
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 08-06-2026 PDF all 22 filings
Turnover
≈ €200,000
Estimated: probably between €130,000 and €260,000
Total assets
€249,910▲ 95.7%
2024 · €127,720
Net result
€7,922▼ 57.9%
2024 · €18,810
Working capital
€1,994▼ 65.7%
2024 · €5,809
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€10,855
▼ 48.5%
2025
20182025
Net result
€7,922
▼ 57.9%
2025
middle half of the sector
20182025
Equity
€30,536
▲ 35.0%
2025
middle half of the sector
20182025
Total assets
€249,910
▲ 95.7%
2025
highest quarter of the sector
20182025
Debt
€219,374
▲ 109%
2025
20182025
Working capital
€1,994
▼ 65.7%
2025
middle half of the sector
20182025
Solvency
12.2%
▼ 5.5pp
2025
middle half of the sector
20182025
Current ratio
1.02
▼ 0.15
2025
middle half of the sector
20182025
Return on assets (ROA)
3.2%
▼ 11.6pp
2025
middle half of the sector
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€67,217-€13,004€11,124▼ 14.5%€32,950▲ 196%€31,052▼ 5.8%€4,093▼ 86.8%€21,076▲ 415%€10,855▼ 48.5%
Net result-€74,072-€15,278-€42,983below the sector's middle half€30,373above the sector's middle half€26,925above the sector's middle half▼ 11.4%€249within the sector's middle half▼ 99.1%€18,810within the sector's middle half▲ 75×€7,922within the sector's middle half▼ 57.9%
Equity-€26,039--€10,761▲ 58.7%-€53,744below the sector's middle half▼ 399%-€23,371below the sector's middle half▲ 56.5%€3,554within the sector's middle half€3,804within the sector's middle half▲ 7.0%€22,614within the sector's middle half▲ 494%€30,536within the sector's middle half▲ 35.0%
Total assets€10,045-€8,165▼ 18.7%€5,404below the sector's middle half▼ 33.8%€13,065below the sector's middle half▲ 142%€99,045within the sector's middle half▲ 658%€144,670within the sector's middle half▲ 46.1%€127,720within the sector's middle half▼ 11.7%€249,910above the sector's middle half▲ 95.7%
Debt€36,083-€18,926▼ 47.5%€59,148▲ 213%€36,436▼ 38.4%€95,491▲ 162%€140,866▲ 47.5%€105,107▼ 25.4%€219,374▲ 109%
Working capital-€31,235--€13,867▲ 55.6%-€54,760below the sector's middle half▼ 295%-€27,170below the sector's middle half▲ 50.4%-€33,130below the sector's middle half▼ 21.9%-€57,336below the sector's middle half▼ 73.1%€5,809within the sector's middle half€1,994within the sector's middle half▼ 65.7%
Solvency-259.2%--131.8%▲ 127.4pp-994.5%below the sector's middle half▼ 862.7pp-178.9%below the sector's middle half▲ 815.6pp3.6%within the sector's middle half▲ 182.5pp2.6%within the sector's middle half▼ 1.0pp17.7%within the sector's middle half▲ 15.1pp12.2%within the sector's middle half▼ 5.5pp
Current ratio0.13-0.27▲ 0.130.07below the sector's middle half▼ 0.190.25below the sector's middle half▲ 0.180.43below the sector's middle half▲ 0.170.51within the sector's middle half▲ 0.081.18within the sector's middle half▲ 0.671.02within the sector's middle half▼ 0.15
Return on assets (ROA)-737.4%-187.1%▲ 924.5pp-795.3%below the sector's middle half▼ 982.5pp232.5%above the sector's middle half▲ 1027.8pp27.2%above the sector's middle half▼ 205.3pp0.2%within the sector's middle half▼ 27.0pp14.7%within the sector's middle half▲ 14.6pp3.2%within the sector's middle half▼ 11.6pp
Staff (FTE)1
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 48% 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 €249,910
Fixed assets
€160,475 ▲ 80.0%
Current assets
€89,435 ▲ 132%
Equity and liabilities €249,910
Equity
€30,536 ▲ 35.0%
Debt
€219,374 ▲ 109%
Debt's share of the balance-sheet total rises from 82.3% to 87.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€22,017▼
2024 · €28,989
Cash flow
€19,085▼
2024 · €26,723
Quick ratio
0.93▼
2024 · 1.09
Debt to equity
7.18▲
2024 · 4.65
ROE
25.9%▼
2024 · 83.2%
Interest coverage
7.50▼
2024 · 12.79
Debt ≤ 1 year
€87,441▲
2024 · €32,771
Debt > 1 year
€85,786▲
2024 · €52,336
Staff costs
€22,397▲
2024 · €0
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2023 |
|---|---|
| Employees at the balance-sheet date | 1 |
| full-time | 1 |
| part-time | 0 |
| in full-time equivalents | 1 |
| Average over the year, in full-time equivalents | 1 |
| On a permanent contract | 1 |
| Joined | 0 |
| Left | 1 |
Source: social balance sheet in the 2023 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €4,361 | €73,040 | €15,000 | €11,332 | €78,147 |
| Financial fixed assets | - | - | - | - | €4,350 |
| Depreciation and write-downs of the year | €1,578 | €2,704 | €3,413 | €7,913 | €11,162 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | €41,712 | €13,141 | €0 | €22,397 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,090 | €2,090 | €2,090 | €1,578 | €2,704 | €3,413 | €7,913 | €11,162 | ▲ 41.1% |
| Other operating charges640/8 | - | - | - | €501 | €102 | €3,618 | €2,276 | €2,973 | ▲ 30.6% |
| Non-recurring operating charges66A | - | - | - | - | - | - | - | €250 | - |
| Gross operating margin9900 | €14,580 | €15,851 | €15,464 | €35,029 | €75,570 | €24,266 | €31,264 | €47,637 | ▲ 52.4% |
| Operating profit (loss)9901 | -€67,217 | €13,004 | €11,124 | €32,950 | €31,052 | €4,093 | €21,076 | €10,855 | ▼ 48.5% |
| Financial income75/76B | - | - | - | €72 | €0 | €39 | €0 | €2 | - |
| Recurring financial income75 | - | €3,115 | €211 | €72 | €0 | €39 | €0 | €2 | - |
| Financial charges65/66B | - | - | - | €2,649 | €4,127 | €3,882 | €2,266 | €2,935 | ▲ 29.5% |
| Recurring financial charges65 | €8,055 | €756 | €1,818 | €2,649 | €4,127 | €3,882 | €2,266 | €2,935 | ▲ 29.5% |
| Non-recurring financial charges66B | - | - | - | €0 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€74,072 | €15,362 | -€42,983 | €30,373 | €26,925 | €249 | €18,810 | €7,922 | ▼ 57.9% |
| Profit (loss) for the period9904 | -€74,072 | €15,278 | -€42,983 | €30,373 | €26,925 | €249 | €18,810 | €7,922 | ▼ 57.9% |
| Profit (loss) for the period to be appropriated9905 | -€74,072 | €15,278 | -€42,983 | €30,373 | €26,925 | €249 | €18,810 | €7,922 | ▼ 57.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €10,045 | €8,165 | €5,404 | €13,065 | €99,045 | €144,670 | €127,720 | €249,910 | ▲ 95.7% |
| Fixed assets21/28 | €5,196 | €3,106 | €1,016 | €3,800 | €74,135 | €85,722 | €89,140 | €160,475 | ▲ 80.0% |
| Tangible fixed assets22/27 | €5,196 | €3,106 | €1,016 | €3,800 | €74,135 | €85,722 | €89,140 | €156,125 | ▲ 75.1% |
| Land and buildings22 | - | - | - | - | €71,789 | €72,098 | €68,946 | €65,794 | ▼ 4.6% |
| Plant, machinery and equipment23 | - | - | - | €3,800 | €2,346 | €892 | €10,463 | €44,084 | ▲ 321% |
| Other tangible fixed assets26 | - | - | - | - | - | €12,732 | €9,732 | €46,247 | ▲ 375% |
| Financial fixed assets28 | - | - | - | - | - | - | - | €4,350 | - |
| Current assets29/58 | €4,849 | €5,059 | €4,388 | €9,265 | €24,910 | €58,948 | €38,580 | €89,435 | ▲ 132% |
| Stocks and contracts in progress3 | - | - | - | - | €13,000 | €1,500 | €2,844 | €8,244 | ▲ 190% |
| Stocks30/36 | - | - | - | - | - | €1,500 | €2,844 | €8,244 | ▲ 190% |
| Contracts in progress37 | - | - | - | - | €13,000 | €0 | - | - | - |
| Amounts receivable within one year40/41 | €1,828 | €5,047 | €4,026 | €7,067 | €1,828 | €6,307 | €3,777 | €9,744 | ▲ 158% |
| Trade receivables40 | - | - | - | €4,294 | €0 | - | - | €2,044 | - |
| Other amounts receivable41 | - | - | - | €2,773 | €1,828 | €6,307 | €3,777 | €7,700 | ▲ 104% |
| Cash at bank and in hand54/58 | €84 | €12 | €363 | €2,198 | €10,082 | €50,644 | €8,685 | €45,894 | ▲ 428% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €497 | €23,275 | €25,553 | ▲ 9.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €10,045 | €8,165 | €5,404 | €13,065 | €99,045 | €144,670 | €127,720 | €249,910 | ▲ 95.7% |
| Equity10/15 | -€26,039 | -€10,761 | -€53,744 | -€23,371 | €3,554 | €3,804 | €22,614 | €30,536 | ▲ 35.0% |
| Contributions10/11 | €20,000 | €20,000 | - | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €51,945 | €51,945 | €51,945 | €51,945 | €51,945 | €51,945 | €51,945 | €51,945 | = |
| Non-distributable reserves130/1 | - | - | - | €2,000 | €2,000 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €2,000 | €2,000 | €0 | - | - | - |
| Tax-exempt reserves132 | - | - | - | €4,461 | €4,461 | €4,461 | €4,461 | €4,461 | = |
| Distributable reserves133 | - | - | - | €45,484 | €45,484 | €47,484 | €47,484 | €47,484 | = |
| Profit (loss) carried forward14 | -€97,984 | -€82,706 | -€125,689 | -€95,316 | -€68,391 | -€68,142 | -€49,332 | -€41,409 | ▲ 16.1% |
| Amounts payable17/49 | €36,083 | €18,926 | €59,148 | €36,436 | €95,491 | €140,866 | €105,107 | €219,374 | ▲ 109% |
| Amounts payable after more than one year17 | - | - | - | - | €37,450 | €24,582 | €52,336 | €85,786 | ▲ 63.9% |
| Financial debts170/4 | - | - | - | - | €37,450 | €24,582 | €11,336 | €40,786 | ▲ 260% |
| Other amounts payable178/9 | - | - | - | - | - | - | €41,000 | €45,000 | ▲ 9.8% |
| Amounts payable within one year42/48 | €36,083 | €18,926 | €59,148 | €36,436 | €58,040 | €116,283 | €32,771 | €87,441 | ▲ 167% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €12,501 | €12,868 | €13,247 | €17,435 | ▲ 31.6% |
| Trade debts44 | €12,926 | €13,289 | €59,022 | €31,803 | €10,196 | €40,866 | €3,719 | €55,289 | ▲ 15× |
| Suppliers440/4 | - | - | - | €31,803 | €10,196 | €40,866 | €3,719 | €55,289 | ▲ 15× |
| Taxes, remuneration and social security45 | - | - | - | €4,633 | €7,176 | €15,872 | €15,509 | €13,741 | ▼ 11.4% |
| Taxes450/3 | - | - | - | €4,633 | €5,591 | €12,998 | €15,509 | €9,101 | ▼ 41.3% |
| Remuneration and social security454/9 | - | - | - | - | €1,585 | €2,874 | €0 | €4,639 | - |
| Other amounts payable47/48 | - | - | - | - | €28,167 | €46,677 | €296 | €976 | ▲ 230% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €20,000 | €46,147 | ▲ 131% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€74,072 | €15,278 | -€42,983 | €30,373 | €26,925 | €249 | €18,810 | €7,922 | ▼ 57.9% |
| + Depreciation and write-downs630 | €2,090 | €2,090 | €2,090 | €1,578 | €2,704 | €3,413 | €7,913 | €11,162 | ▲ 41.1% |
| Operating cash flow (approximation) | -€71,982 | €17,368 | -€40,893 | €31,951 | €29,630 | €3,663 | €26,723 | €19,085 | ▼ 28.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€4,361 | -€73,040 | -€15,000 | -€11,332 | -€82,497 | ▼ 628% |
| Change in cash | - | -€72 | €350 | €1,836 | €7,883 | €40,563 | -€41,960 | €37,209 | - |
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, 3,984 companies had the same profile as Sonlo has now. Two years later, 96.5% were still going and 1.1% had gone bankrupt.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
96.5%
was still going
2.3%
stopped otherwise
1.1%
went bankrupt
That fits the bankruptcy probability of Sonlo itself: 1.2% 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 3,984 companies, not a prediction for Sonlo. 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 22 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 08-06-2026 | 2026-00154964 | |
| 31-12-2024 | micro format | 04-06-2025 | 2025-00122935 | |
| 31-12-2023 | micro format | 26-07-2024 | 2024-00287255 | |
| 31-12-2022 | micro format | 29-06-2023 | 2023-00171116 | |
| 31-12-2021 | micro format | 14-06-2022 | 2022-20061169 | |
| 31-12-2020 | micro format | 05-08-2021 | 2021-46000091 | |
| 31-12-2019 | micro format | 04-09-2020 | 2020-50500535 | |
| 31-12-2018 | micro format | 01-10-2019 | 2019-66600249 | |
| 31-12-2017 | micro format | 28-06-2018 | 2018-23700172 | |
| 31-12-2016 | micro format | 14-06-2017 | 2017-17100134 |