THINGY
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 05-12-2025 PDF all 12 filings
Equity
€2,993▲ 116%
2024 · €1,384
Total assets
€3,205▲ 81.2%
2024 · €1,769
Net result
-€1,181▲ 58.5%
2024 · -€2,846
Working capital
€2,518▲ 82.0%
2024 · €1,384
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€1,139
▲ 58.9%
2025
20192025
Net result
-€1,181
▲ 58.5%
2025
lowest quarter of the sector
20192025
Equity
€2,993
▲ 116%
2025
lowest quarter of the sector
20192025
Total assets
€3,205
▲ 81.2%
2025
lowest quarter of the sector
20192025
Debt
€211
▼ 45.0%
2025
20192025
Working capital
€2,518
▲ 82.0%
2025
middle half of the sector
20192025
Solvency
no figure
2025
20192025
Current ratio
no figure
2025
20192025
Return on assets (ROA)
no figure
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€1,290--€209-€1,929▼ 825%-€2,107▼ 9.2%-€1,787▲ 15.2%-€2,770▼ 55.1%-€1,139▲ 58.9%
Net result€1,220--€284within the sector's middle half-€2,002below the sector's middle half▼ 604%-€2,181below the sector's middle half▼ 8.9%-€1,877below the sector's middle half▲ 13.9%-€2,846below the sector's middle half▼ 51.6%-€1,181below the sector's middle half▲ 58.5%
Equity€7,783-€7,499below the sector's middle half▼ 3.7%€5,497below the sector's middle half▼ 26.7%€3,316below the sector's middle half▼ 39.7%€4,230below the sector's middle half▲ 27.5%€1,384below the sector's middle half▼ 67.3%€2,993below the sector's middle half▲ 116%
Total assets€7,793-€7,856below the sector's middle half▲ 0.8%€6,027below the sector's middle half▼ 23.3%€3,789below the sector's middle half▼ 37.1%€4,710below the sector's middle half▲ 24.3%€1,769below the sector's middle half▼ 62.5%€3,205below the sector's middle half▲ 81.2%
Debt€9-€357▲ 39×€530▲ 48.6%€472▼ 10.9%€481▲ 1.7%€384▼ 20.0%€211▼ 45.0%
Working capital€7,783-€6,980within the sector's middle half▼ 10.3%€5,153within the sector's middle half▼ 26.2%€3,149below the sector's middle half▼ 38.9%€4,230within the sector's middle half▲ 34.3%€1,384below the sector's middle half▼ 67.3%€2,518within the sector's middle half▲ 82.0%
Solvency99.9%-95.5%above the sector's middle half▼ 4.4pp91.2%above the sector's middle half▼ 4.3pp
Current ratio20.57above the sector's middle half10.72above the sector's middle half▼ 9.84
Return on assets (ROA)15.7%--3.6%below the sector's middle half▼ 19.3pp-33.2%below the sector's middle half▼ 29.6pp
above
within
below
The sector band is the middle half of the companies in Computing infrastructure, data processing, hosting and other information service activities (NACE 63). 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 €1,139, smaller than the loss of €2,770 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3,205
Fixed assets
€475
Current assets
€2,730
Equity and liabilities €3,205
Equity
€2,993 ▲ 116%
Debt
€211 ▼ 45.0%
Debt's share of the balance-sheet total falls from 21.7% to 6.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
-€1,019▲
2024 · -€2,770
Cash flow
-€1,061▲
2024 · -€2,846
Interest coverage
-24.27▲
2024 · -36.76
Debt ≤ 1 year
€211▼
2024 · €384
The ratios are withheld because a balance sheet total of €3,205 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | - | €594 |
| Depreciation and write-downs of the year | €176 | €168 | €0 | €119 |
Source: notes to the 2022 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 | - | €8 | €176 | €176 | €168 | €0 | €119 | - |
| Other operating charges640/8 | - | - | - | €348 | €724 | €471 | €3 | ▼ 99.4% |
| Gross operating margin9900 | €1,638 | €147 | -€1,406 | -€1,584 | -€895 | -€2,299 | -€1,017 | ▲ 55.8% |
| Operating profit (loss)9901 | €1,290 | -€209 | -€1,929 | -€2,107 | -€1,787 | -€2,770 | -€1,139 | ▲ 58.9% |
| Financial income75/76B | - | - | - | €2 | €0 | €0 | €0 | ▼ 100% |
| Recurring financial income75 | €3 | €0 | - | €2 | €0 | €0 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €76 | €90 | €75 | €42 | ▼ 44.3% |
| Recurring financial charges65 | €73 | €76 | €73 | €76 | €90 | €75 | €42 | ▼ 44.3% |
| Profit (loss) for the period before taxes9903 | €1,220 | -€284 | -€2,002 | -€2,181 | -€1,877 | -€2,846 | -€1,181 | ▲ 58.5% |
| Profit (loss) for the period9904 | €1,220 | -€284 | -€2,002 | -€2,181 | -€1,877 | -€2,846 | -€1,181 | ▲ 58.5% |
| Profit (loss) for the period to be appropriated9905 | €1,220 | -€284 | -€2,002 | -€2,181 | -€1,877 | -€2,846 | -€1,181 | ▲ 58.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €7,793 | €7,856 | €6,027 | €3,789 | €4,710 | €1,769 | €3,205 | ▲ 81.2% |
| Fixed assets21/28 | - | €519 | €343 | €168 | €0 | - | €475 | - |
| Tangible fixed assets22/27 | - | €519 | €343 | €168 | €0 | - | €475 | - |
| Plant, machinery and equipment23 | - | - | - | €168 | €0 | - | €475 | - |
| Current assets29/58 | €7,793 | €7,337 | €5,684 | €3,621 | €4,710 | €1,769 | €2,730 | ▲ 54.4% |
| Amounts receivable within one year40/41 | €331 | €210 | €356 | €556 | €535 | €684 | €610 | ▼ 10.9% |
| Trade receivables40 | - | - | - | €149 | €65 | €122 | €515 | ▲ 322% |
| Other amounts receivable41 | - | - | - | €407 | €470 | €563 | €95 | ▼ 83.0% |
| Cash at bank and in hand54/58 | €7,331 | €6,990 | €5,216 | €3,021 | €4,126 | €1,033 | €2,066 | ▲ 100% |
| Deferred charges and accrued income490/1 | - | - | - | €44 | €49 | €51 | €53 | ▲ 4.2% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €7,793 | €7,856 | €6,027 | €3,789 | €4,710 | €1,769 | €3,205 | ▲ 81.2% |
| Equity10/15 | €7,783 | €7,499 | €5,497 | €3,316 | €4,230 | €1,384 | €2,993 | ▲ 116% |
| Contributions10/11 | €13,020 | - | - | €13,020 | €15,810 | €15,810 | €18,600 | ▲ 17.6% |
| Profit (loss) carried forward14 | -€5,237 | -€5,521 | -€7,523 | -€9,704 | -€11,580 | -€14,426 | -€15,607 | ▼ 8.2% |
| Amounts payable17/49 | €9 | €357 | €530 | €472 | €481 | €384 | €211 | ▼ 45.0% |
| Amounts payable within one year42/48 | €9 | €357 | €530 | €472 | €481 | €384 | €211 | ▼ 45.0% |
| Trade debts44 | €4 | €352 | €525 | €468 | €481 | €384 | €208 | ▼ 45.8% |
| Suppliers440/4 | - | - | - | €468 | €481 | €384 | €208 | ▼ 45.8% |
| Taxes, remuneration and social security45 | - | - | - | €5 | €0 | - | - | - |
| Taxes450/3 | - | - | - | €5 | €0 | - | - | - |
| Other amounts payable47/48 | - | - | - | - | - | - | €3 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,220 | -€284 | -€2,002 | -€2,181 | -€1,877 | -€2,846 | -€1,181 | ▲ 58.5% |
| + Depreciation and write-downs630 | - | €8 | €176 | €176 | €168 | €0 | €119 | - |
| Operating cash flow (approximation) | €1,220 | -€276 | -€1,826 | -€2,005 | -€1,709 | -€2,846 | -€1,061 | ▲ 62.7% |
| Investment in fixed assets (approximation) | - | - | €0 | €0 | €0 | - | - | - |
| Change in cash | - | -€340 | -€1,774 | -€2,195 | €1,105 | -€3,094 | €1,034 | - |
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, 4,805 companies had the same profile as THINGY has now. Two years later, 88.1% were still going and 2.0% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
88.1%
was still going
9.8%
stopped otherwise
2.0%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of THINGY itself is lower: 0.1% within 12 months. It rests on far more data about THINGY than the profile alone.
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 4,805 companies, not a prediction for THINGY. 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 | micro format | 05-12-2025 | 2025-00576692 | |
| 30-06-2024 | micro format | 18-11-2024 | 2024-00601157 | |
| 30-06-2023 | micro format | 30-01-2024 | 2024-00018010 | |
| 30-06-2022 | micro format | 24-01-2023 | 2023-00004008 | |
| 30-06-2021 | micro format | 26-01-2022 | 2022-03700438 | |
| 30-06-2020 | micro format | 28-01-2021 | 2021-03300356 | |
| 30-06-2019 | micro format | 30-01-2020 | 2020-03300518 | |
| 30-06-2018 | micro format | 16-01-2019 | 2019-01600202 | |
| 30-06-2017 | micro format | 19-12-2017 | 2017-72300383 | |
| 30-06-2016 | abbreviated format | 25-01-2017 | 2017-02100173 |