SYNERGUY
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 22-05-2026 PDF all 21 filings
Turnover
≈ €56,000
Estimated: probably between €37,000 and €110,000
Total assets
€67,092▲ 37.1%
2024 · €48,924
Net result
€3,581
2024 · -€17,438
Working capital
€1,820▼ 94.0%
2024 · €30,533
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€5,447
2025
20182025
Net result
€3,581
2025
middle half of the sector
20182025
Equity
€34,355
▲ 11.6%
2025
middle half of the sector
20182025
Total assets
€67,092
▲ 37.1%
2025
middle half of the sector
20182025
Debt
€32,737
▲ 80.4%
2025
20182025
Working capital
€1,820
▼ 94.0%
2025
middle half of the sector
20182025
Solvency
51.2%
▼ 11.7pp
2025
middle half of the sector
20182025
Current ratio
1.06
▼ 1.63
2025
middle half of the sector
20182025
Return on assets (ROA)
5.3%
▲ 41.0pp
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€29,102-€18,943▼ 34.9%€5,941▼ 68.6%-€7,238€6,238€6,228▼ 0.2%-€12,076€5,447
Net result€18,275-€9,468▼ 48.2%€1,893within the sector's middle half▼ 80.0%-€8,528below the sector's middle half€4,604within the sector's middle half€3,069within the sector's middle half▼ 33.3%-€17,438below the sector's middle half€3,581within the sector's middle half
Equity€37,706-€47,174▲ 25.1%€49,067within the sector's middle half▲ 4.0%€40,539within the sector's middle half▼ 17.4%€45,143within the sector's middle half▲ 11.4%€48,212within the sector's middle half▲ 6.8%€30,774within the sector's middle half▼ 36.2%€34,355within the sector's middle half▲ 11.6%
Total assets€123,926-€135,445▲ 9.3%€137,448within the sector's middle half▲ 1.5%€127,766within the sector's middle half▼ 7.0%€131,721within the sector's middle half▲ 3.1%€134,590within the sector's middle half▲ 2.2%€48,924within the sector's middle half▼ 63.6%€67,092within the sector's middle half▲ 37.1%
Debt€86,219-€88,271▲ 2.4%€88,381▲ 0.1%€87,227▼ 1.3%€86,578▼ 0.7%€86,379▼ 0.2%€18,150▼ 79.0%€32,737▲ 80.4%
Working capital€32,776-€43,578▲ 33.0%€45,210within the sector's middle half▲ 3.7%€35,539within the sector's middle half▼ 21.4%€40,143within the sector's middle half▲ 13.0%€34,175within the sector's middle half▼ 14.9%€30,533within the sector's middle half▼ 10.7%€1,820within the sector's middle half▼ 94.0%
Solvency30.4%-34.8%▲ 4.4pp35.7%within the sector's middle half▲ 0.9pp31.7%within the sector's middle half▼ 4.0pp34.3%within the sector's middle half▲ 2.5pp35.8%within the sector's middle half▲ 1.5pp62.9%within the sector's middle half▲ 27.1pp51.2%within the sector's middle half▼ 11.7pp
Current ratio1.38-1.50▲ 0.121.52within the sector's middle half▲ 0.021.41within the sector's middle half▼ 0.111.46within the sector's middle half▲ 0.061.40within the sector's middle half▼ 0.072.68within the sector's middle half▲ 1.291.06within the sector's middle half▼ 1.63
Return on assets (ROA)14.7%-7.0%▼ 7.8pp1.4%within the sector's middle half▼ 5.6pp-6.7%below the sector's middle half▼ 8.1pp3.5%within the sector's middle half▲ 10.2pp2.3%within the sector's middle half▼ 1.2pp-35.6%below the sector's middle half▼ 37.9pp5.3%within the sector's middle half▲ 41.0pp
above
within
below
The sector band is the middle half of the companies in Education (NACE 85). 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 €5,447, after a loss of €12,076 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 €67,092
Fixed assets
€32,535 ▲ 135×
Current assets
€34,557 ▼ 29.0%
Equity and liabilities €67,092
Equity
€34,355 ▲ 11.6%
Debt
€32,737 ▲ 80.4%
Debt's share of the balance-sheet total rises from 37.1% to 48.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€13,525▲
2024 · -€3,280
Cash flow
€11,660▲
2024 · -€8,642
Debt to equity
0.95▲
2024 · 0.59
ROE
10.4%▲
2024 · -56.7%
Interest coverage
over 100▲
2024 · -15.63
Debt ≤ 1 year
€32,737▲
2024 · €18,150
Income taxes
€1,782▲
2024 · €173
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 | - | - | €17,592 | - | €40,613 |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €197 | - | €8,555 | €8,796 | €8,078 |
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 | - | - | - | - | - | - | - | €12,759 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,558 | €439 | €246 | €197 | - | €8,555 | €8,796 | €8,078 | ▼ 8.2% |
| Other operating charges640/8 | - | - | - | €464 | €467 | €510 | €576 | €1,660 | ▲ 188% |
| Gross operating margin9900 | €31,675 | €19,899 | €6,651 | -€6,576 | €6,704 | €15,293 | -€2,704 | €15,185 | - |
| Operating profit (loss)9901 | €29,102 | €18,943 | €5,941 | -€7,238 | €6,238 | €6,228 | -€12,076 | €5,447 | - |
| Financial income75/76B | - | - | - | - | €25 | €0 | €21 | €0 | ▼ 100% |
| Recurring financial income75 | €275 | €44 | €0 | - | €25 | €0 | €21 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €1,116 | €1,042 | €68 | €5,210 | €83 | ▼ 98.4% |
| Recurring financial charges65 | €1,909 | €4,231 | €3,195 | €1,116 | €1,042 | €68 | €210 | €83 | ▼ 60.2% |
| Non-recurring financial charges66B | - | - | - | - | - | - | €5,000 | €0 | ▼ 100% |
| Profit (loss) for the period before taxes9903 | €27,469 | €14,755 | €2,746 | -€8,354 | €5,221 | €6,160 | -€17,265 | €5,363 | - |
| Income taxes67/77 | €9,194 | €5,287 | €853 | €174 | €617 | €3,091 | €173 | €1,782 | ▲ 929% |
| Profit (loss) for the period9904 | €18,275 | €9,468 | €1,893 | -€8,528 | €4,604 | €3,069 | -€17,438 | €3,581 | - |
| Profit (loss) for the period to be appropriated9905 | €18,275 | €9,468 | €1,893 | -€8,528 | €4,604 | €3,069 | -€17,438 | €3,581 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €123,926 | €135,445 | €137,448 | €127,766 | €131,721 | €134,590 | €48,924 | €67,092 | ▲ 37.1% |
| Fixed assets21/28 | €5,883 | €5,444 | €5,197 | €5,000 | €5,000 | €14,037 | €241 | €32,535 | ▲ 135× |
| Tangible fixed assets22/27 | €883 | €444 | €197 | - | - | €9,037 | €241 | €32,535 | ▲ 135× |
| Furniture and vehicles24 | - | - | - | - | - | €9,037 | €241 | €32,535 | ▲ 135× |
| Financial fixed assets28 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | €0 | - | - |
| Current assets29/58 | €118,043 | €130,001 | €132,251 | €122,766 | €126,721 | €120,554 | €48,683 | €34,557 | ▼ 29.0% |
| Amounts receivable within one year40/41 | €15,465 | €1,769 | €1,425 | €11,867 | €2,783 | €0 | €127 | €1,593 | ▲ 13× |
| Trade receivables40 | - | - | - | €11,041 | - | - | - | - | - |
| Other amounts receivable41 | - | - | - | €826 | €2,783 | €0 | €127 | €1,593 | ▲ 13× |
| Current investments50/53 | €2,500 | - | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €98,872 | €127,979 | €130,673 | €110,899 | €123,678 | €120,416 | €48,418 | €32,407 | ▼ 33.1% |
| Deferred charges and accrued income490/1 | - | - | - | - | €259 | €138 | €138 | €557 | ▲ 303% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €123,926 | €135,445 | €137,448 | €127,766 | €131,721 | €134,590 | €48,924 | €67,092 | ▲ 37.1% |
| Equity10/15 | €37,706 | €47,174 | €49,067 | €40,539 | €45,143 | €48,212 | €30,774 | €34,355 | ▲ 11.6% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €29,161 | €38,629 | €40,522 | €40,522 | €40,522 | €43,591 | €43,591 | €43,591 | = |
| Non-distributable reserves130/1 | - | - | - | €3,156 | €3,156 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €3,156 | €3,156 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €37,366 | €37,366 | €43,591 | €43,591 | €43,591 | = |
| Profit (loss) carried forward14 | -€3,855 | -€3,855 | -€3,855 | -€12,383 | -€7,779 | -€7,779 | -€25,217 | -€21,635 | ▲ 14.2% |
| Amounts payable17/49 | €86,219 | €88,271 | €88,381 | €87,227 | €86,578 | €86,379 | €18,150 | €32,737 | ▲ 80.4% |
| Amounts payable within one year42/48 | €85,267 | €86,423 | €87,040 | €87,227 | €86,578 | €86,379 | €18,150 | €32,737 | ▲ 80.4% |
| Trade debts44 | €1,258 | €771 | €909 | €935 | €1,383 | €995 | €1,357 | €1,646 | ▲ 21.3% |
| Suppliers440/4 | - | - | - | €935 | €1,383 | €995 | €1,357 | €1,646 | ▲ 21.3% |
| Advances received on contracts in progress46 | - | - | - | - | €816 | €0 | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €2,166 | €24 | €769 | €1,077 | €771 | ▼ 28.4% |
| Taxes450/3 | - | - | - | €2,166 | €24 | €769 | €1,077 | €771 | ▼ 28.4% |
| Other amounts payable47/48 | - | - | - | €84,126 | €84,356 | €84,615 | €15,717 | €30,319 | ▲ 92.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,275 | €9,468 | €1,893 | -€8,528 | €4,604 | €3,069 | -€17,438 | €3,581 | - |
| + Depreciation and write-downs630 | €1,558 | €439 | €246 | €197 | - | €8,555 | €8,796 | €8,078 | ▼ 8.2% |
| Operating cash flow (approximation) | €19,833 | €9,907 | €2,139 | -€8,331 | €4,604 | €11,624 | -€8,642 | €11,660 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | -€17,592 | €5,000 | -€40,373 | - |
| Change in cash | - | €29,107 | €2,694 | -€19,774 | €12,779 | -€3,263 | -€71,998 | -€16,011 | ▲ 77.8% |
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 SYNERGUY 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 SYNERGUY 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 31,368 companies, not a prediction for SYNERGUY. 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 21 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 22-05-2026 | 2026-00121328 | |
| 31-12-2024 | micro format | 26-06-2025 | 2025-00185740 | |
| 31-12-2023 | micro format | 10-06-2024 | 2024-00130173 | |
| 31-12-2022 | micro format | 27-06-2023 | 2023-00160673 | |
| 31-12-2021 | micro format | 14-07-2022 | 2022-20192580 | |
| 31-12-2020 | micro format | 07-06-2021 | 2021-17900497 | |
| 31-12-2019 | micro format | 29-04-2020 | 2020-10600092 | |
| 31-12-2018 | micro format | 16-05-2019 | 2019-13300558 | |
| 31-12-2017 | micro format | 21-08-2018 | 2018-47900522 | |
| 31-12-2016 | micro format | 15-05-2017 | 2017-12100135 |