TACTICS
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 30-04-2026 PDF all 25 filings
Turnover
≈ €760,000
Estimated: probably between €520,000 and €1.2m
Total assets
€783,382▼ 8.6%
2024 · €856,999
Net result
-€369,474
2024 · €12,679
Working capital
€28,590▼ 65.5%
2024 · €82,861
In the rankings
#10 company by total assets in Kapellen, Telecoms and IT sector
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€357,825
2025
20192025
Net result
-€369,474
2025
lowest quarter of the sector
20192025
Equity
-€209,569
2025
lowest quarter of the sector
20192025
Total assets
€783,382
▼ 8.6%
2025
middle half of the sector
20192025
Debt
€992,951
▲ 42.4%
2025
20192025
Working capital
€28,590
▼ 65.5%
2025
middle half of the sector
20192025
Solvency
-26.8%
▼ 45.4pp
2025
lowest quarter of the sector
20192025
Current ratio
1.07
▼ 0.11
2025
middle half of the sector
20192025
Return on assets (ROA)
-47.2%
▼ 48.6pp
2025
lowest quarter of the sector
20192025
Staff (FTE)
8.7
▲ 8.8%
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€50,551--€222,660€52,606€26,156▼ 50.3%€52,670▲ 101%€21,271▼ 59.6%-€357,825
Net result€36,059--€231,601below the sector's middle half€27,795within the sector's middle half€14,302within the sector's middle half▼ 48.5%€36,195within the sector's middle half▲ 153%€12,679within the sector's middle half▼ 65.0%-€369,474below the sector's middle half
Equity€300,535-€68,935within the sector's middle half▼ 77.1%€96,730within the sector's middle half▲ 40.3%€111,032within the sector's middle half▲ 14.8%€147,227within the sector's middle half▲ 32.6%€159,905within the sector's middle half▲ 8.6%-€209,569below the sector's middle half
Total assets€758,552-€502,031within the sector's middle half▼ 33.8%€475,360within the sector's middle half▼ 5.3%€521,965within the sector's middle half▲ 9.8%€594,962within the sector's middle half▲ 14.0%€856,999within the sector's middle half▲ 44.0%€783,382within the sector's middle half▼ 8.6%
Debt€458,017-€433,096▼ 5.4%€378,630▼ 12.6%€410,933▲ 8.5%€447,735▲ 9.0%€697,094▲ 55.7%€992,951▲ 42.4%
Working capital€212,367--€71,537below the sector's middle half-€55,635below the sector's middle half▲ 22.2%-€14,231below the sector's middle half▲ 74.4%-€89,526below the sector's middle half▼ 529%€82,861within the sector's middle half€28,590within the sector's middle half▼ 65.5%
Solvency39.6%-13.7%below the sector's middle half▼ 25.9pp20.3%within the sector's middle half▲ 6.6pp21.3%within the sector's middle half▲ 0.9pp24.7%within the sector's middle half▲ 3.5pp18.7%within the sector's middle half▼ 6.1pp-26.8%below the sector's middle half▼ 45.4pp
Current ratio1.68-0.77below the sector's middle half▼ 0.910.82below the sector's middle half▲ 0.040.96below the sector's middle half▲ 0.140.79below the sector's middle half▼ 0.171.18within the sector's middle half▲ 0.391.07within the sector's middle half▼ 0.11
Return on assets (ROA)4.8%--46.1%below the sector's middle half▼ 50.9pp5.8%within the sector's middle half▲ 52.0pp2.7%within the sector's middle half▼ 3.1pp6.1%within the sector's middle half▲ 3.3pp1.5%within the sector's middle half▼ 4.6pp-47.2%below the sector's middle half▼ 48.6pp
Staff (FTE)9.1-11.9within the sector's middle half▲ 30.8%11within the sector's middle half▼ 7.6%10.4within the sector's middle half▼ 5.5%6.7within the sector's middle half▼ 35.6%8within the sector's middle half▲ 19.4%8.7within the sector's middle half▲ 8.8%
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). 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 loss of €357,825, after a profit of €21,271 in 2024. It is the lowest result since 2019.
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
Assets €783,382
Fixed assets
€361,841 ▲ 16.6%
Current assets
€421,541 ▼ 22.9%
Equity and liabilities
Equity-€209,569
Debt€992,951
Equity is negative. Debt (€992,951) exceeds the balance-sheet total (€783,382).
Key figures and ratios
EBITDA
-€303,337▼
2024 · €78,860
Cash flow
-€314,987▼
2024 · €70,267
Interest coverage
-27.69▼
2024 · 10.12
Debt ≤ 1 year
€392,951▼
2024 · €463,810
Debt > 1 year
€600,000▲
2024 · €233,284
Income taxes
€693▼
2024 · €800
Staff costs
€591,047▼
2024 · €603,823
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 10 | 9 | 8 | 7 | 9 |
| full-time | 10 | 8 | 7 | 6 | 8 |
| part-time | - | 1 | 1 | 1 | 1 |
| in full-time equivalents | 10 | 8.9 | 7.9 | 6.9 | 8.9 |
| Average over the year, in full-time equivalents | 11 | 10.4 | 6.7 | 8 | 8.7 |
| On a permanent contract | 10 | 9 | 8 | 7 | 9 |
| Joined | 0 | 1 | 3 | 5 | 9 |
| Left | 3 | 3 | 4 | 6 | 7 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €136,845 | - | - | - | - |
| Debts guaranteed by Belgian public bodies | - | - | - | €42,678 | €24,796 |
| Mortgages, amount registered | €322,787 | - | - | - | - |
| Carrying value of the mortgaged assets | €199,055 | - | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €2,567 | €6,933 | €5,771 | - | - |
| Intangible fixed assets | - | - | €105,000 | €105,000 | €105,000 |
| Financial fixed assets | €7,500 | - | - | - | €1,000 |
| Depreciation and write-downs of the year | €40,350 | €41,781 | €37,163 | €57,588 | €54,487 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 to 2025 · 3 entries · €17,985 awarded · €16,236 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €4,485 | €3,536 |
| 2024 | 1 | €7,000 | €6,200 |
| 2023 | 1 | €6,500 | €6,500 |
Public contracts
5 awards · 2024 to 2026
Software vrijetijdsdiensten: 839 - 1
Raamovereenkomst Digitaal Loket Kinderopvang 2.0
Softwareplatform voor buitenschoolse opvang en activiteiten: EFRO_NextGen_Dynamische_Dienstverlening_Softwareplatform_BOA - 1
Ter beschikking stellen van een softwaresysteem om het vakantieaanbod, activiteiten en buitenschoolse kinderopvang te ondersteunen in een SaaS-formule: AKD-2024/051 - 1
Kinderopvangzoeker
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €671,539 | €675,959 | €535,019 | €603,823 | €591,047 | ▼ 2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €32,865 | €42,517 | €40,350 | €41,781 | €37,163 | €57,588 | €54,487 | ▼ 5.4% |
| Other operating charges640/8 | - | - | €4,966 | €5,216 | €3,040 | €506 | €693 | ▲ 37.1% |
| Gross operating margin9900 | €647,968 | €559,625 | €769,461 | €749,111 | €627,891 | €683,189 | €288,403 | ▼ 57.8% |
| Operating profit (loss)9901 | €50,551 | -€222,660 | €52,606 | €26,156 | €52,670 | €21,271 | -€357,825 | - |
| Financial charges65/66B | - | - | €22,557 | €10,757 | €15,720 | €7,793 | €10,957 | ▲ 40.6% |
| Recurring financial charges65 | €6,200 | €8,941 | €22,557 | €10,757 | €15,720 | €7,793 | €10,957 | ▲ 40.6% |
| Profit (loss) for the period before taxes9903 | €44,352 | -€231,601 | €30,049 | €15,399 | €36,949 | €13,479 | -€368,781 | - |
| Income taxes67/77 | €8,293 | - | €2,254 | €1,097 | €755 | €800 | €693 | ▼ 13.4% |
| Profit (loss) for the period9904 | €36,059 | -€231,601 | €27,795 | €14,302 | €36,195 | €12,679 | -€369,474 | - |
| Profit (loss) for the period to be appropriated9905 | €36,059 | -€231,601 | €27,795 | €14,302 | €36,195 | €12,679 | -€369,474 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €758,552 | €502,031 | €475,360 | €521,965 | €594,962 | €856,999 | €783,382 | ▼ 8.6% |
| Fixed assets21/28 | €233,172 | €259,632 | €229,349 | €194,501 | €262,917 | €310,328 | €361,841 | ▲ 16.6% |
| Intangible fixed assets21 | - | - | - | - | €105,000 | €189,000 | €273,000 | ▲ 44.4% |
| Tangible fixed assets22/27 | €233,172 | €255,499 | €217,717 | €182,868 | €150,417 | €113,828 | €80,341 | ▼ 29.4% |
| Furniture and vehicles24 | - | - | €18,662 | €12,074 | €10,028 | €3,845 | €763 | ▼ 80.2% |
| Other tangible fixed assets26 | - | - | €199,055 | €170,794 | €140,389 | €109,983 | €79,578 | ▼ 27.6% |
| Financial fixed assets28 | - | €4,133 | €11,633 | €11,633 | €7,500 | €7,500 | €8,500 | ▲ 13.3% |
| Current assets29/58 | €525,380 | €242,399 | €246,011 | €327,464 | €332,045 | €546,671 | €421,541 | ▼ 22.9% |
| Amounts receivable within one year40/41 | €478,617 | €220,424 | €198,222 | €281,786 | €276,783 | €471,511 | €406,516 | ▼ 13.8% |
| Trade receivables40 | - | - | €194,790 | €280,394 | €276,783 | €470,084 | €401,370 | ▼ 14.6% |
| Other amounts receivable41 | - | - | €3,432 | €1,392 | - | €1,427 | €5,146 | ▲ 261% |
| Cash at bank and in hand54/58 | €46,764 | €21,975 | €40,226 | €43,865 | €55,262 | €75,159 | €15,025 | ▼ 80.0% |
| Deferred charges and accrued income490/1 | - | - | €7,563 | €1,813 | - | - | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €758,552 | €502,031 | €475,360 | €521,965 | €594,962 | €856,999 | €783,382 | ▼ 8.6% |
| Equity10/15 | €300,535 | €68,935 | €96,730 | €111,032 | €147,227 | €159,905 | -€209,569 | - |
| Contributions10/11 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €181,997 | €181,997 | €181,997 | €181,997 | €181,997 | €181,997 | €181,997 | = |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | - | - | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Distributable reserves133 | - | - | €179,137 | €179,137 | €179,137 | €179,137 | €179,137 | = |
| Profit (loss) carried forward14 | €99,939 | -€131,662 | -€103,866 | -€89,564 | -€53,370 | -€40,691 | -€410,165 | ▼ 908% |
| Amounts payable17/49 | €458,017 | €433,096 | €378,630 | €410,933 | €447,735 | €697,094 | €992,951 | ▲ 42.4% |
| Amounts payable after more than one year17 | €145,003 | €119,160 | €76,984 | €69,237 | €26,164 | €233,284 | €600,000 | ▲ 157% |
| Financial debts170/4 | - | - | €76,984 | €69,237 | €26,164 | €233,284 | €600,000 | ▲ 157% |
| Amounts payable within one year42/48 | €313,013 | €313,937 | €301,646 | €341,696 | €421,571 | €463,810 | €392,951 | ▼ 15.3% |
| Current portion of amounts payable after more than one year42 | - | - | €59,861 | €50,819 | €33,348 | €34,394 | €24,796 | ▼ 27.9% |
| Financial debts43 | - | - | €60,000 | €134,418 | €100,000 | €90,000 | €90,000 | = |
| Credit institutions430/8 | - | - | - | €134,418 | €100,000 | €90,000 | €90,000 | = |
| Other loans439 | - | - | €60,000 | - | - | - | - | - |
| Trade debts44 | €63,022 | €123,908 | €72,691 | €64,207 | €185,503 | €220,094 | €218,274 | ▼ 0.8% |
| Suppliers440/4 | - | - | €72,691 | €64,207 | €185,503 | €220,094 | €218,274 | ▼ 0.8% |
| Taxes, remuneration and social security45 | - | - | €109,093 | €92,252 | €102,672 | €119,322 | €59,881 | ▼ 49.8% |
| Taxes450/3 | - | - | €28,340 | €47,114 | €46,114 | €41,076 | €1,127 | ▼ 97.3% |
| Remuneration and social security454/9 | - | - | €80,753 | €45,138 | €56,558 | €78,246 | €58,754 | ▼ 24.9% |
| Other amounts payable47/48 | - | - | - | - | €48 | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €36,059 | -€231,601 | €27,795 | €14,302 | €36,195 | €12,679 | -€369,474 | - |
| + Depreciation and write-downs630 | €32,865 | €42,517 | €40,350 | €41,781 | €37,163 | €57,588 | €54,487 | ▼ 5.4% |
| Operating cash flow (approximation) | €68,924 | -€189,083 | €68,145 | €56,083 | €73,357 | €70,267 | -€314,987 | - |
| Investment in fixed assets (approximation) | - | -€68,977 | -€10,067 | -€6,933 | -€105,579 | -€105,000 | -€106,000 | ▼ 1.0% |
| Change in cash | - | -€24,789 | €18,251 | €3,639 | €11,397 | €19,897 | -€60,135 | - |
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, 6,619 companies had the same profile as TACTICS has now. Two years later, 84.5% were still going and 4.5% had gone bankrupt.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
84.5%
was still going
10.0%
stopped otherwise
4.5%
went bankrupt
Another 1.0% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of TACTICS itself: 4.9% 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 6,619 companies, not a prediction for TACTICS. 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 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 30-04-2026 | 2026-00097814 | |
| 30-09-2024 | abbreviated format | 25-04-2025 | 2025-00076278 | |
| 30-09-2023 | abbreviated format | 25-04-2024 | 2024-00070704 | |
| 30-09-2022 | abbreviated format | 21-04-2023 | 2023-00064307 | |
| 30-09-2021 | abbreviated format | 26-04-2022 | 2022-20010238 | |
| 30-09-2020 | abbreviated format | 28-04-2021 | 2021-11800396 | |
| 30-09-2019 | abbreviated format | 30-04-2020 | 2020-11000206 | |
| 30-09-2018 | abbreviated format | 26-03-2019 | 2019-08400300 | |
| 30-09-2017 | abbreviated format | 27-04-2018 | 2018-11400536 | |
| 30-09-2016 | abbreviated format | 30-03-2017 | 2017-08200564 |