SPUNKY STRINGS
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 30-01-2026 PDF all 12 filings
Turnover
≈ €100,000
Estimated: probably between €61,000 and €230,000
Total assets
€54,196▲ 90.8%
2024 · €28,406
Net result
€16,140
2024 · -€18,586
Working capital
€19,863▲ 434%
2024 · €3,723
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€16,291
2025
20192025
Net result
€16,140
2025
middle half of the sector
20192025
Equity
€19,863
▲ 434%
2025
lowest quarter of the sector
20192025
Total assets
€54,196
▲ 90.8%
2025
lowest quarter of the sector
20192025
Debt
€34,332
▲ 39.1%
2025
20192025
Working capital
€19,863
▲ 434%
2025
lowest quarter of the sector
20192025
Solvency
36.7%
▲ 23.5pp
2025
middle half of the sector
20192025
Current ratio
1.58
▲ 0.43
2025
middle half of the sector
20192025
Return on assets (ROA)
29.8%
▲ 95.2pp
2025
highest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€5,709--€2,021▲ 64.6%-€4,306▼ 113%€49,702-€7,225-€18,553▼ 157%€16,291
Net result-€5,854--€2,139below the sector's middle half▲ 63.5%-€4,441below the sector's middle half▼ 108%€49,566within the sector's middle half-€7,324below the sector's middle half-€18,586below the sector's middle half▼ 154%€16,140within the sector's middle half
Equity-€13,352--€15,491below the sector's middle half▼ 16.0%-€19,933below the sector's middle half▼ 28.7%€29,634below the sector's middle half€22,309below the sector's middle half▼ 24.7%€3,723below the sector's middle half▼ 83.3%€19,863below the sector's middle half▲ 434%
Total assets€34,708-€36,365below the sector's middle half▲ 4.8%€31,574below the sector's middle half▼ 13.2%€30,476below the sector's middle half▼ 3.5%€24,508below the sector's middle half▼ 19.6%€28,406below the sector's middle half▲ 15.9%€54,196below the sector's middle half▲ 90.8%
Debt€48,060-€51,856▲ 7.9%€51,507▼ 0.7%€842▼ 98.4%€2,198▲ 161%€24,683▲ 11×€34,332▲ 39.1%
Working capital-€14,816--€16,265below the sector's middle half▼ 9.8%-€20,049below the sector's middle half▼ 23.3%€29,634below the sector's middle half€22,309below the sector's middle half▼ 24.7%€3,723below the sector's middle half▼ 83.3%€19,863below the sector's middle half▲ 434%
Solvency-38.5%--42.6%below the sector's middle half▼ 4.1pp-63.1%below the sector's middle half▼ 20.5pp97.2%above the sector's middle half▲ 160.4pp91.0%above the sector's middle half▼ 6.2pp13.1%below the sector's middle half▼ 77.9pp36.7%within the sector's middle half▲ 23.5pp
Current ratio0.69-0.69below the sector's middle half▼ 0.010.61below the sector's middle half▼ 0.0836.19above the sector's middle half▲ 35.5811.15above the sector's middle half▼ 25.041.15below the sector's middle half▼ 10.001.58within the sector's middle half▲ 0.43
Return on assets (ROA)-16.9%--5.9%below the sector's middle half▲ 11.0pp-14.1%below the sector's middle half▼ 8.2pp162.6%above the sector's middle half▲ 176.7pp-29.9%below the sector's middle half▼ 192.5pp-65.4%below the sector's middle half▼ 35.5pp29.8%above the sector's middle half▲ 95.2pp
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 profit of €16,291, after a loss of €18,553 in 2024.
Turnover and EBIT margin are not published. The abbreviated 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
Equity and liabilities €54,196
Equity
€19,863 ▲ 434%
Debt
€34,332 ▲ 39.1%
Debt's share of the balance-sheet total falls from 86.9% to 63.3%. Equity and debt are higher.
Key figures and ratios
Quick ratio
0.92▲
2024 · 0.23
Debt to equity
1.73▼
2024 · 6.63
ROE
81.3%▲
2024 · -499.2%
Debt ≤ 1 year
€34,332▲
2024 · €24,683
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,781 | €690 | €657 | €116 | - | - | - | - |
| Other operating charges640/8 | - | - | - | €449 | €453 | €498 | €506 | ▲ 1.6% |
| Gross operating margin9900 | -€3,239 | -€1,160 | -€3,201 | €50,267 | -€6,772 | -€18,055 | €16,797 | - |
| Operating profit (loss)9901 | -€5,709 | -€2,021 | -€4,306 | €49,702 | -€7,225 | -€18,553 | €16,291 | - |
| Financial income75/76B | - | - | - | €11 | €52 | €115 | - | - |
| Recurring financial income75 | - | - | - | €11 | €52 | €115 | - | - |
| Financial charges65/66B | - | - | - | €147 | €151 | €147 | €151 | ▲ 2.3% |
| Recurring financial charges65 | €145 | €118 | €135 | €147 | €151 | €147 | €151 | ▲ 2.3% |
| Profit (loss) for the period before taxes9903 | -€5,854 | -€2,139 | -€4,441 | €49,566 | -€7,324 | -€18,586 | €16,140 | - |
| Profit (loss) for the period9904 | -€5,854 | -€2,139 | -€4,441 | €49,566 | -€7,324 | -€18,586 | €16,140 | - |
| Profit (loss) for the period to be appropriated9905 | -€5,854 | -€2,139 | -€4,441 | €49,566 | -€7,324 | -€18,586 | €16,140 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €34,708 | €36,365 | €31,574 | €30,476 | €24,508 | €28,406 | €54,196 | ▲ 90.8% |
| Fixed assets21/28 | €1,464 | €774 | €116 | - | - | - | - | - |
| Tangible fixed assets22/27 | €1,464 | €774 | €116 | - | - | - | - | - |
| Current assets29/58 | €33,244 | €35,591 | €31,458 | €30,476 | €24,508 | €28,406 | €54,196 | ▲ 90.8% |
| Stocks and contracts in progress3 | €23,891 | €23,891 | €23,664 | €23,153 | €23,060 | €22,747 | €22,522 | ▼ 1.0% |
| Stocks30/36 | - | - | - | €23,153 | €23,060 | €22,747 | €22,522 | ▼ 1.0% |
| Amounts receivable within one year40/41 | €7,815 | €7,857 | €6,239 | €5,519 | - | €4,303 | €30,121 | ▲ 600% |
| Trade receivables40 | - | - | - | €5,519 | - | - | €30,120 | - |
| Other amounts receivable41 | - | - | - | - | - | €4,303 | €0 | ▼ 100.0% |
| Cash at bank and in hand54/58 | €522 | €2,818 | €908 | €1,045 | €794 | €482 | €785 | ▲ 62.9% |
| Deferred charges and accrued income490/1 | - | - | - | €758 | €654 | €874 | €769 | ▼ 12.0% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €34,708 | €36,365 | €31,574 | €30,476 | €24,508 | €28,406 | €54,196 | ▲ 90.8% |
| Equity10/15 | -€13,352 | -€15,491 | -€19,933 | €29,634 | €22,309 | €3,723 | €19,863 | ▲ 434% |
| Contributions10/11 | €50,000 | - | - | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Profit (loss) carried forward14 | -€63,352 | -€65,491 | -€69,933 | -€20,366 | -€27,691 | -€46,277 | -€30,137 | ▲ 34.9% |
| Amounts payable17/49 | €48,060 | €51,856 | €51,507 | €842 | €2,198 | €24,683 | €34,332 | ▲ 39.1% |
| Amounts payable within one year42/48 | €48,060 | €51,856 | €51,507 | €842 | €2,198 | €24,683 | €34,332 | ▲ 39.1% |
| Trade debts44 | €973 | €2,024 | €1,158 | €412 | €1,865 | €24,451 | €33,200 | ▲ 35.8% |
| Suppliers440/4 | - | - | - | €412 | €1,865 | €24,451 | €33,200 | ▲ 35.8% |
| Taxes, remuneration and social security45 | - | - | - | €188 | €75 | - | €88 | - |
| Taxes450/3 | - | - | - | €188 | €75 | - | €88 | - |
| Other amounts payable47/48 | - | - | - | €243 | €258 | €232 | €1,044 | ▲ 351% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,854 | -€2,139 | -€4,441 | €49,566 | -€7,324 | -€18,586 | €16,140 | - |
| + Depreciation and write-downs630 | €1,781 | €690 | €657 | €116 | - | - | - | - |
| Operating cash flow (approximation) | -€4,073 | -€1,449 | -€3,784 | €49,683 | -€7,324 | -€18,586 | €16,140 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | - | - | - | - | - |
| Change in cash | - | €2,296 | -€1,910 | €137 | -€251 | -€313 | €303 | - |
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, 34,693 companies had the same profile as SPUNKY STRINGS has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of SPUNKY STRINGS itself: 0.3% 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 34,693 companies, not a prediction for SPUNKY STRINGS. 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 12 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | abbreviated format | 30-01-2026 | 2026-00019949 | |
| 30-06-2024 | abbreviated format | 31-01-2025 | 2025-00020000 | |
| 30-06-2023 | abbreviated format | 31-01-2024 | 2024-00015095 | |
| 30-06-2022 | abbreviated format | 28-01-2023 | 2023-00007377 | |
| 30-06-2021 | abbreviated format | 28-01-2022 | 2022-02600199 | |
| 30-06-2020 | abbreviated format | 29-01-2021 | 2021-02500533 | |
| 30-06-2019 | abbreviated format | 31-01-2020 | 2020-03200098 | |
| 30-06-2018 | abbreviated format | 20-12-2018 | 2018-75500562 | |
| 30-06-2017 | abbreviated format | 31-01-2018 | 2018-04100249 | |
| 30-06-2016 | abbreviated format | 18-12-2016 | 2016-71500038 |