TABULARI
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 07-05-2026 PDF all 20 filings
Turnover
≈ €200,000
Estimated: probably between €160,000 and €280,000
Total assets
€83,042▲ 31.0%
2024 · €63,414
Net result
€31,939▼ 16.8%
2024 · €38,397
Working capital
€49,454
2024 · -€18,356
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€31,939
▼ 16.8%
2025
20192025
Net result
€31,939
▼ 16.8%
2025
middle half of the sector
20192025
Equity
€49,115
▲ 186%
2025
middle half of the sector
20192025
Total assets
€83,042
▲ 31.0%
2025
lowest quarter of the sector
20192025
Debt
€33,927
▼ 26.6%
2025
20192025
Working capital
€49,454
2025
middle half of the sector
20192025
Solvency
59.1%
▲ 32.1pp
2025
middle half of the sector
20192025
Current ratio
2.47
▲ 1.87
2025
middle half of the sector
20192025
Return on assets (ROA)
38.5%
▼ 22.1pp
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-€3,247--€4,824▼ 48.6%-€9,582▼ 98.6%-€7,510▲ 21.6%€8,523€38,397▲ 351%€31,939▼ 16.8%
Net result-€3,507--€4,972below the sector's middle half▼ 41.8%-€9,772below the sector's middle half▼ 96.5%-€7,510below the sector's middle half▲ 23.1%€8,523below the sector's middle half€38,397within the sector's middle half▲ 351%€31,939within the sector's middle half▼ 16.8%
Equity-€7,490--€12,462below the sector's middle half▼ 66.4%-€22,234below the sector's middle half▼ 78.4%-€29,744below the sector's middle half▼ 33.8%-€21,221below the sector's middle half▲ 28.7%€17,176below the sector's middle half€49,115within the sector's middle half▲ 186%
Total assets€24,100-€17,401below the sector's middle half▼ 27.8%€10,357below the sector's middle half▼ 40.5%€1,418below the sector's middle half▼ 86.3%€6,563below the sector's middle half▲ 363%€63,414below the sector's middle half▲ 866%€83,042below the sector's middle half▲ 31.0%
Debt€31,590-€29,863▼ 5.5%€32,591▲ 9.1%€31,162▼ 4.4%€27,784▼ 10.8%€46,238▲ 66.4%€33,927▼ 26.6%
Working capital-€26,584--€21,979below the sector's middle half▲ 17.3%-€20,692below the sector's middle half▲ 5.9%-€29,744below the sector's middle half▼ 43.7%-€21,221below the sector's middle half▲ 28.7%-€18,356below the sector's middle half▲ 13.5%€49,454within the sector's middle half
Solvency-31.1%--71.6%below the sector's middle half▼ 40.5pp-214.7%below the sector's middle half▼ 143.1pp-323.3%below the sector's middle half27.1%below the sector's middle half▲ 350.4pp59.1%within the sector's middle half▲ 32.1pp
Current ratio0.12-0.14below the sector's middle half▲ 0.030.14below the sector's middle half=0.24below the sector's middle half0.60below the sector's middle half▲ 0.372.47within the sector's middle half▲ 1.87
Return on assets (ROA)-14.6%--28.6%below the sector's middle half▼ 14.0pp-94.4%below the sector's middle half▼ 65.8pp129.9%above the sector's middle half60.5%above the sector's middle half▼ 69.3pp38.5%above the sector's middle half▼ 22.1pp
above
within
below
The sector band is the middle half of the companies in Legal and accounting activities (NACE 69). 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 17% 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
Equity and liabilities €83,042
Equity
€49,115 ▲ 186%
Debt
€33,927 ▼ 26.6%
Debt's share of the balance-sheet total falls from 72.9% to 40.9%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
0.69▼
2024 · 2.69
ROE
65.0%▼
2024 · 223.6%
Debt ≤ 1 year
€33,588▼
2024 · €46,238
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 | - | - | - | €37,402 | - |
| Depreciation and write-downs of the year | €6,857 | €6,857 | - | €1,870 | - |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,857 | €6,857 | €6,857 | €6,857 | - | €1,870 | - | - |
| Other operating charges640/8 | - | - | €10,715 | €8,470 | €10,644 | €46,712 | €65,748 | ▲ 40.8% |
| Gross operating margin9900 | €22,905 | €19,002 | €7,990 | €7,817 | €19,167 | €86,979 | €97,687 | ▲ 12.3% |
| Operating profit (loss)9901 | -€3,247 | -€4,824 | -€9,582 | -€7,510 | €8,523 | €38,397 | €31,939 | ▼ 16.8% |
| Financial charges65/66B | - | - | €190 | - | - | - | - | - |
| Recurring financial charges65 | - | - | €190 | - | - | - | - | - |
| Non-recurring financial charges66B | - | - | €190 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€3,507 | -€4,972 | -€9,772 | -€7,510 | €8,523 | €38,397 | €31,939 | ▼ 16.8% |
| Profit (loss) for the period9904 | -€3,507 | -€4,972 | -€9,772 | -€7,510 | €8,523 | €38,397 | €31,939 | ▼ 16.8% |
| Profit (loss) for the period to be appropriated9905 | -€3,507 | -€4,972 | -€9,772 | -€7,510 | €8,523 | €38,397 | €31,939 | ▼ 16.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €24,100 | €17,401 | €10,357 | €1,418 | €6,563 | €63,414 | €83,042 | ▲ 31.0% |
| Fixed assets21/28 | €20,574 | €13,717 | €6,858 | - | - | €35,532 | - | - |
| Tangible fixed assets22/27 | €20,574 | €13,717 | €6,858 | - | - | €35,532 | - | - |
| Furniture and vehicles24 | - | - | €6,858 | - | - | €35,532 | - | - |
| Current assets29/58 | €3,526 | €3,684 | €3,499 | €1,418 | €6,563 | €27,882 | €83,042 | ▲ 198% |
| Stocks and contracts in progress3 | €2,918 | €2,918 | €2,918 | €1,364 | - | - | - | - |
| Stocks30/36 | - | - | €2,918 | €1,364 | - | - | - | - |
| Amounts receivable within one year40/41 | €508 | €688 | €529 | - | €5,587 | €26,091 | €44,885 | ▲ 72.0% |
| Trade receivables40 | - | - | - | - | €5,587 | €10,153 | €9,432 | ▼ 7.1% |
| Other amounts receivable41 | - | - | €529 | - | - | €15,938 | €35,453 | ▲ 122% |
| Cash at bank and in hand54/58 | €100 | €78 | €52 | €54 | €976 | €1,791 | €38,157 | ▲ 21× |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €24,100 | €17,401 | €10,357 | €1,418 | €6,563 | €63,414 | €83,042 | ▲ 31.0% |
| Equity10/15 | -€7,490 | -€12,462 | -€22,234 | -€29,744 | -€21,221 | €17,176 | €49,115 | ▲ 186% |
| Contributions10/11 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Profit (loss) carried forward14 | -€26,090 | -€31,062 | -€40,834 | -€48,344 | -€39,821 | -€1,424 | €30,515 | - |
| Amounts payable17/49 | €31,590 | €29,863 | €32,591 | €31,162 | €27,784 | €46,238 | €33,927 | ▼ 26.6% |
| Amounts payable within one year42/48 | €30,110 | €25,663 | €24,191 | €31,162 | €27,784 | €46,238 | €33,588 | ▼ 27.4% |
| Financial debts43 | - | - | €2,452 | - | - | €28,649 | €23,095 | ▼ 19.4% |
| Credit institutions430/8 | - | - | €2,452 | - | - | €28,649 | €23,095 | ▼ 19.4% |
| Trade debts44 | - | €786 | €1,134 | €1,207 | €2,197 | €1,945 | €26 | ▼ 98.7% |
| Suppliers440/4 | - | - | €1,134 | €1,207 | €2,197 | €1,945 | €26 | ▼ 98.7% |
| Taxes, remuneration and social security45 | - | - | - | €170 | - | - | - | - |
| Taxes450/3 | - | - | - | €170 | - | - | - | - |
| Other amounts payable47/48 | - | - | €20,605 | €29,785 | €25,587 | €15,644 | €10,467 | ▼ 33.1% |
| Accrued charges and deferred income492/3 | - | - | €8,400 | - | - | - | €339 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,507 | -€4,972 | -€9,772 | -€7,510 | €8,523 | €38,397 | €31,939 | ▼ 16.8% |
| + Depreciation and write-downs630 | €6,857 | €6,857 | €6,857 | €6,857 | - | €1,870 | - | - |
| Operating cash flow (approximation) | €3,350 | €1,885 | -€2,915 | -€653 | €8,523 | €40,267 | €31,939 | ▼ 20.7% |
| Investment in fixed assets (approximation) | - | €0 | €2 | - | - | - | - | - |
| Change in cash | - | -€22 | -€26 | €2 | €922 | €815 | €36,366 | ▲ 45× |
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 TABULARI 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 TABULARI 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 TABULARI. 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 20 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 07-05-2026 | 2026-00104787 | |
| 31-12-2024 | micro format | 25-07-2025 | 2025-00306177 | |
| 31-12-2023 | micro format | 25-06-2024 | 2024-00156987 | |
| 31-12-2022 | micro format | 08-05-2023 | 2023-00082063 | |
| 31-12-2021 | micro format | 09-08-2022 | 2022-20277494 | |
| 31-12-2020 | micro format | 09-09-2021 | 2021-66600595 | |
| 31-12-2019 | micro format | 02-02-2021 | 2021-03900171 | |
| 31-12-2018 | abbreviated format | 15-10-2019 | 2019-70300004 | |
| 31-12-2017 | abbreviated format | 26-07-2018 | 2018-30500054 | |
| 31-12-2016 | abbreviated format | 23-06-2017 | 2017-20800237 |