STORM
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 15-07-2026 at the NBB all 26 filings
Turnover
≈ €130,000
Estimated: probably between €110,000 and €170,000
Total assets
€584,589▲ 5.4%
2024 · €554,412
Net result
€32,738▼ 48.9%
2024 · €64,092
Working capital
€260,659▲ 21.2%
2024 · €214,986
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€44,365
▼ 47.8%
2025
20182025
Net result
€32,738
▼ 48.9%
2025
middle half of the sector
20182025
Equity
€573,817
▲ 6.1%
2025
highest quarter of the sector
20182025
Total assets
€584,589
▲ 5.4%
2025
highest quarter of the sector
20182025
Debt
€10,772
▼ 19.2%
2025
20182025
Working capital
€260,659
▲ 21.2%
2025
highest quarter of the sector
20182025
Solvency
98.2%
▲ 0.6pp
2025
highest quarter of the sector
20182025
Current ratio
25.20
▲ 8.07
2025
highest quarter of the sector
20182025
Return on assets (ROA)
5.6%
▼ 6.0pp
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€5,134-€130,633▲ 25×€47,983▼ 63.3%€66,464▲ 38.5%€60,434▼ 9.1%€23,633▼ 60.9%€85,006▲ 260%€44,365▼ 47.8%
Net result€3,308-€129,130▲ 39×€46,917above the sector's middle half▼ 63.7%€58,464above the sector's middle half▲ 24.6%€44,942above the sector's middle half▼ 23.1%€16,611within the sector's middle half▼ 63.0%€64,092above the sector's middle half▲ 286%€32,738within the sector's middle half▼ 48.9%
Equity€180,924-€310,054▲ 71.4%€356,971above the sector's middle half▲ 15.1%€415,435above the sector's middle half▲ 16.4%€460,377above the sector's middle half▲ 10.8%€476,987above the sector's middle half▲ 3.6%€541,079above the sector's middle half▲ 13.4%€573,817above the sector's middle half▲ 6.1%
Total assets€325,231-€397,550▲ 22.2%€383,688above the sector's middle half▼ 3.5%€443,656above the sector's middle half▲ 15.6%€480,018above the sector's middle half▲ 8.2%€491,112above the sector's middle half▲ 2.3%€554,412above the sector's middle half▲ 12.9%€584,589above the sector's middle half▲ 5.4%
Debt€144,307-€87,496▼ 39.4%€26,717▼ 69.5%€28,222▲ 5.6%€19,642▼ 30.4%€14,124▼ 28.1%€13,333▼ 5.6%€10,772▼ 19.2%
Working capital-€26,260-€49,942€59,301within the sector's middle half▲ 18.7%€111,754above the sector's middle half▲ 88.5%€120,397above the sector's middle half▲ 7.7%€142,444above the sector's middle half▲ 18.3%€214,986above the sector's middle half▲ 50.9%€260,659above the sector's middle half▲ 21.2%
Solvency55.6%-78.0%▲ 22.4pp93.0%above the sector's middle half▲ 15.0pp93.6%above the sector's middle half▲ 0.6pp95.9%above the sector's middle half▲ 2.3pp97.1%above the sector's middle half▲ 1.2pp97.6%above the sector's middle half▲ 0.5pp98.2%above the sector's middle half▲ 0.6pp
Current ratio0.03-2.74▲ 2.716.39above the sector's middle half▲ 3.659.89above the sector's middle half▲ 3.499.35above the sector's middle half▼ 0.5411.56above the sector's middle half▲ 2.2117.12above the sector's middle half▲ 5.5625.20above the sector's middle half▲ 8.07
Return on assets (ROA)1.0%-32.5%▲ 31.5pp12.2%within the sector's middle half▼ 20.3pp13.2%within the sector's middle half▲ 0.9pp9.4%within the sector's middle half▼ 3.8pp3.4%within the sector's middle half▼ 6.0pp11.6%within the sector's middle half▲ 8.2pp5.6%within the sector's middle half▼ 6.0pp
above
within
below
The sector band is the middle half of the companies in Advertising, market research and public relations activities (NACE 73). 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 €584,589
Fixed assets
€313,159 ▼ 4.0%
Current assets
€271,431 ▲ 18.9%
Equity and liabilities €584,589
Equity
€573,817 ▲ 6.1%
Debt
€10,772 ▼ 19.2%
Debt's share of the balance-sheet total falls from 2.4% to 1.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€57,300▼
2024 · €97,563
Cash flow
€45,673▼
2024 · €76,649
Debt to equity
0.02▼
2024 · 0.02
ROE
5.7%▼
2024 · 11.8%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€10,772▼
2024 · €13,333
Income taxes
€12,723▼
2024 · €23,625
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 | €12,768 | €35,110 | €2,091 | €3,471 | - |
| Depreciation and write-downs of the year | €6,833 | €9,235 | €12,112 | €12,557 | €12,935 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,530 | €5,530 | €5,530 | €6,833 | €9,235 | €12,112 | €12,557 | €12,935 | ▲ 3.0% |
| Other operating charges640/8 | - | - | - | €4,695 | €6,405 | €7,083 | €751 | €1,813 | ▲ 141% |
| Gross operating margin9900 | €16,089 | €140,696 | €58,713 | €77,992 | €76,075 | €42,827 | €98,314 | €59,113 | ▼ 39.9% |
| Operating profit (loss)9901 | €5,134 | €130,633 | €47,983 | €66,464 | €60,434 | €23,633 | €85,006 | €44,365 | ▼ 47.8% |
| Financial income75/76B | - | - | - | €129 | €6 | - | €2,852 | €1,134 | ▼ 60.2% |
| Recurring financial income75 | €1 | - | - | €129 | €6 | - | €2,852 | €1,134 | ▼ 60.2% |
| Financial charges65/66B | - | - | - | €769 | €466 | €237 | €141 | €39 | ▼ 72.7% |
| Recurring financial charges65 | €1,827 | €1,503 | €1,066 | €769 | €466 | €237 | €141 | €39 | ▼ 72.7% |
| Profit (loss) for the period before taxes9903 | €3,308 | €129,130 | €46,917 | €65,825 | €59,974 | €23,395 | €87,717 | €45,461 | ▼ 48.2% |
| Income taxes67/77 | - | - | - | €7,361 | €15,033 | €6,785 | €23,625 | €12,723 | ▼ 46.1% |
| Profit (loss) for the period9904 | €3,308 | €129,130 | €46,917 | €58,464 | €44,942 | €16,611 | €64,092 | €32,738 | ▼ 48.9% |
| Profit (loss) for the period to be appropriated9905 | €3,308 | €129,130 | €46,917 | €58,464 | €44,942 | €16,611 | €64,092 | €32,738 | ▼ 48.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €325,231 | €397,550 | €383,688 | €443,656 | €480,018 | €491,112 | €554,412 | €584,589 | ▲ 5.4% |
| Fixed assets21/28 | €324,450 | €318,920 | €313,390 | €319,325 | €345,200 | €335,179 | €326,093 | €313,159 | ▼ 4.0% |
| Tangible fixed assets22/27 | €322,176 | €316,646 | €311,116 | €317,051 | €342,926 | €332,905 | €323,819 | €310,885 | ▼ 4.0% |
| Land and buildings22 | - | - | - | €301,617 | €323,392 | €313,692 | €303,992 | €294,292 | ▼ 3.2% |
| Plant, machinery and equipment23 | - | - | - | - | €5,095 | €3,742 | €5,771 | €3,951 | ▼ 31.5% |
| Furniture and vehicles24 | - | - | - | €15,434 | €14,438 | €15,471 | €14,056 | €12,642 | ▼ 10.1% |
| Financial fixed assets28 | €2,274 | €2,274 | €2,274 | €2,274 | €2,274 | €2,274 | €2,274 | €2,274 | = |
| Current assets29/58 | €781 | €78,630 | €70,297 | €124,331 | €134,819 | €155,933 | €228,319 | €271,431 | ▲ 18.9% |
| Amounts receivable after more than one year29 | - | - | - | - | - | - | €50,117 | - | - |
| Other amounts receivable291 | - | - | - | - | - | - | €50,117 | - | - |
| Amounts receivable within one year40/41 | €555 | €10,890 | €1,062 | €13,104 | €30,734 | €37,559 | €59,529 | €49,501 | ▼ 16.8% |
| Trade receivables40 | - | - | - | €11,072 | €24,980 | €14,475 | €18,549 | €10,648 | ▼ 42.6% |
| Other amounts receivable41 | - | - | - | €2,032 | €5,754 | €23,084 | €40,979 | €38,853 | ▼ 5.2% |
| Cash at bank and in hand54/58 | €226 | €64,758 | €66,203 | €108,158 | €100,708 | €113,917 | €118,448 | €221,580 | ▲ 87.1% |
| Deferred charges and accrued income490/1 | - | - | - | €3,069 | €3,377 | €4,456 | €225 | €350 | ▲ 55.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €325,231 | €397,550 | €383,688 | €443,656 | €480,018 | €491,112 | €554,412 | €584,589 | ▲ 5.4% |
| Equity10/15 | €180,924 | €310,054 | €356,971 | €415,435 | €460,377 | €476,987 | €541,079 | €573,817 | ▲ 6.1% |
| Contributions10/11 | €20,000 | €20,000 | - | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Revaluation surpluses12 | - | - | - | €126,316 | €126,316 | €126,316 | €126,316 | €126,316 | = |
| Reserves13 | €39,500 | €39,500 | €39,500 | €39,500 | €39,500 | €56,000 | €119,000 | €151,700 | ▲ 27.5% |
| Non-distributable reserves130/1 | - | - | - | €2,000 | €2,000 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €2,000 | €2,000 | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €37,500 | €37,500 | €37,500 | €37,500 | €37,500 | = |
| Distributable reserves133 | - | - | - | - | - | €18,500 | €81,500 | €114,200 | ▲ 40.1% |
| Profit (loss) carried forward14 | -€4,892 | €124,238 | €171,155 | €229,619 | €274,560 | €274,671 | €275,763 | €275,801 | = |
| Amounts payable17/49 | €144,307 | €87,496 | €26,717 | €28,222 | €19,642 | €14,124 | €13,333 | €10,772 | ▼ 19.2% |
| Amounts payable after more than one year17 | €116,590 | €54,829 | €15,408 | €10,712 | - | - | - | - | - |
| Financial debts170/4 | - | - | - | €3,712 | - | - | - | - | - |
| Other amounts payable178/9 | - | - | - | €7,000 | - | - | - | - | - |
| Amounts payable within one year42/48 | €27,041 | €28,688 | €10,996 | €12,577 | €14,421 | €13,489 | €13,333 | €10,772 | ▼ 19.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €4,696 | €3,712 | - | - | - | - |
| Trade debts44 | €1,576 | €1,186 | €5,848 | €3,655 | - | €4,982 | €11,377 | €259 | ▼ 97.7% |
| Suppliers440/4 | - | - | - | €3,655 | - | €4,982 | €11,377 | €259 | ▼ 97.7% |
| Taxes, remuneration and social security45 | - | - | - | €1,271 | €10,709 | €8,507 | €1,956 | €10,513 | ▲ 437% |
| Taxes450/3 | - | - | - | €1,271 | €10,709 | €8,507 | €1,956 | €10,513 | ▲ 437% |
| Other amounts payable47/48 | - | - | - | €2,956 | - | - | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €4,933 | €5,221 | €636 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,308 | €129,130 | €46,917 | €58,464 | €44,942 | €16,611 | €64,092 | €32,738 | ▼ 48.9% |
| + Depreciation and write-downs630 | €5,530 | €5,530 | €5,530 | €6,833 | €9,235 | €12,112 | €12,557 | €12,935 | ▲ 3.0% |
| Operating cash flow (approximation) | €8,838 | €134,660 | €52,447 | €65,297 | €54,177 | €28,722 | €76,649 | €45,673 | ▼ 40.4% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€12,768 | -€35,110 | -€2,091 | -€3,471 | €0 | - |
| Change in cash | - | €64,532 | €1,446 | €41,955 | -€7,450 | €13,210 | €4,531 | €103,131 | ▲ 23× |
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, 20,136 companies had the same profile as STORM has now. Two years later, 95.0% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.0%
was still going
4.7%
stopped otherwise
0.2%
went bankrupt
That fits the bankruptcy probability of STORM itself: < 0.1% 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 20,136 companies, not a prediction for STORM. 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 26 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 15-07-2026 | 2026-00306475 | |
| 31-12-2024 | micro format | 25-06-2025 | 2025-00200073 | |
| 31-12-2023 | micro format | 24-06-2024 | 2024-00180904 | |
| 31-12-2022 | micro format | 20-07-2023 | 2023-00268002 | |
| 31-12-2021 | micro format | 23-06-2022 | 2022-20145422 | |
| 31-12-2020 | micro format | 29-07-2021 | 2021-44200174 | |
| 31-12-2019 | micro format | 21-08-2020 | 2020-43900280 | |
| 31-12-2018 | micro format | 25-06-2019 | 2019-23300195 | |
| 31-12-2017 | micro format | 20-07-2018 | 2018-37000426 | |
| 31-12-2016 | micro format | 25-07-2017 | 2017-37900131 |