THINKIT
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 02-12-2025 PDF all 10 filings
Turnover
≈ €130,000
Estimated: probably between €68,000 and €230,000
Total assets
€63,988▼ 35.3%
2024 · €98,888
Net result
€419▼ 94.1%
2024 · €7,150
Working capital
€53,045▼ 25.4%
2024 · €71,070
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€20,364
▲ 103%
2025
20192025
Net result
€419
▼ 94.1%
2025
middle half of the sector
20192025
Equity
€42,672
▼ 40.9%
2025
middle half of the sector
20192025
Total assets
€63,988
▼ 35.3%
2025
middle half of the sector
20192025
Debt
€21,316
▼ 20.0%
2025
20192025
Working capital
€53,045
▼ 25.4%
2025
middle half of the sector
20192025
Solvency
66.7%
▼ 6.4pp
2025
middle half of the sector
20192025
Current ratio
9.40
▲ 5.73
2025
highest quarter of the sector
20192025
Return on assets (ROA)
0.7%
▼ 6.6pp
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€19,332-€17,904▼ 7.4%€20,135▲ 12.5%€19,494▼ 3.2%€21,680▲ 11.2%€10,016▼ 53.8%€20,364▲ 103%
Net result€11,048-€9,925within the sector's middle half▼ 10.2%€13,358within the sector's middle half▲ 34.6%€13,038within the sector's middle half▼ 2.4%€14,999within the sector's middle half▲ 15.0%€7,150within the sector's middle half▼ 52.3%€419within the sector's middle half▼ 94.1%
Equity€56,802-€66,727within the sector's middle half▲ 17.5%€80,085within the sector's middle half▲ 20.0%€64,890within the sector's middle half▼ 19.0%€79,889within the sector's middle half▲ 23.1%€72,253within the sector's middle half▼ 9.6%€42,672within the sector's middle half▼ 40.9%
Total assets€66,525-€89,969within the sector's middle half▲ 35.2%€108,488within the sector's middle half▲ 20.6%€85,203within the sector's middle half▼ 21.5%€103,074within the sector's middle half▲ 21.0%€98,888within the sector's middle half▼ 4.1%€63,988within the sector's middle half▼ 35.3%
Debt€9,723-€23,242▲ 139%€28,403▲ 22.2%€20,313▼ 28.5%€23,185▲ 14.1%€26,635▲ 14.9%€21,316▼ 20.0%
Working capital€42,235-€57,455within the sector's middle half▲ 36.0%€74,435within the sector's middle half▲ 29.6%€64,344within the sector's middle half▼ 13.6%€77,731within the sector's middle half▲ 20.8%€71,070within the sector's middle half▼ 8.6%€53,045within the sector's middle half▼ 25.4%
Solvency85.4%-74.2%within the sector's middle half▼ 11.2pp73.8%within the sector's middle half▼ 0.3pp76.2%above the sector's middle half▲ 2.3pp77.5%above the sector's middle half▲ 1.3pp73.1%within the sector's middle half▼ 4.4pp66.7%within the sector's middle half▼ 6.4pp
Current ratio5.34-3.47within the sector's middle half▼ 1.873.62within the sector's middle half▲ 0.154.17above the sector's middle half▲ 0.554.35above the sector's middle half▲ 0.183.67within the sector's middle half▼ 0.689.40above the sector's middle half▲ 5.73
Return on assets (ROA)16.6%-11.0%within the sector's middle half▼ 5.6pp12.3%within the sector's middle half▲ 1.3pp15.3%within the sector's middle half▲ 3.0pp14.6%within the sector's middle half▼ 0.8pp7.2%within the sector's middle half▼ 7.3pp0.7%within the sector's middle half▼ 6.6pp
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 103% higher than in 2024. It is a recovery after the fall 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 €63,988
Fixed assets
€4,627 ▲ 291%
Current assets
€59,361 ▼ 39.2%
Equity and liabilities €63,988
Equity
€42,672 ▼ 40.9%
Debt
€21,316 ▼ 20.0%
Debt's share of the balance-sheet total rises from 26.9% to 33.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€21,937▲
2024 · €10,990
Cash flow
€1,992▼
2024 · €8,125
Debt to equity
0.50▲
2024 · 0.37
ROE
1.0%▼
2024 · 9.9%
Interest coverage
1.17▼
2024 · 79.12
Debt ≤ 1 year
€6,316▼
2024 · €26,635
Debt > 1 year
€15,000
Income taxes
€1,598▼
2024 · €3,069
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 | - | €2,689 | - | €5,016 |
| Depreciation and write-downs of the year | €5,104 | €1,077 | €975 | €1,573 |
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 | €5,294 | €5,294 | €5,026 | €5,104 | €1,077 | €975 | €1,573 | ▲ 61.4% |
| Other operating charges640/8 | - | - | - | €686 | €742 | €871 | €778 | ▼ 10.6% |
| Gross operating margin9900 | €25,233 | €23,756 | €25,931 | €25,285 | €23,499 | €11,861 | €22,716 | ▲ 91.5% |
| Operating profit (loss)9901 | €19,332 | €17,904 | €20,135 | €19,494 | €21,680 | €10,016 | €20,364 | ▲ 103% |
| Financial income75/76B | - | - | - | - | €19 | €342 | €445 | ▲ 30.0% |
| Recurring financial income75 | €3 | €187 | €67 | - | €19 | €342 | €445 | ▲ 30.0% |
| Financial charges65/66B | - | - | - | €138 | €162 | €139 | €18,793 | ▲ 135× |
| Recurring financial charges65 | €115 | €124 | €58 | €138 | €162 | €139 | €18,793 | ▲ 135× |
| Profit (loss) for the period before taxes9903 | €19,220 | €17,967 | €20,144 | €19,356 | €21,536 | €10,219 | €2,016 | ▼ 80.3% |
| Income taxes67/77 | €8,172 | €8,042 | €6,786 | €6,317 | €6,538 | €3,069 | €1,598 | ▼ 47.9% |
| Profit (loss) for the period9904 | €11,048 | €9,925 | €13,358 | €13,038 | €14,999 | €7,150 | €419 | ▼ 94.1% |
| Profit (loss) for the period to be appropriated9905 | €11,048 | €9,925 | €13,358 | €13,038 | €14,999 | €7,150 | €419 | ▼ 94.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €66,525 | €89,969 | €108,488 | €85,203 | €103,074 | €98,888 | €63,988 | ▼ 35.3% |
| Fixed assets21/28 | €14,567 | €9,272 | €5,650 | €546 | €2,158 | €1,184 | €4,627 | ▲ 291% |
| Tangible fixed assets22/27 | €14,567 | €9,272 | €5,650 | €546 | €2,158 | €1,184 | €4,627 | ▲ 291% |
| Plant, machinery and equipment23 | - | - | - | €546 | €78 | - | - | - |
| Furniture and vehicles24 | - | - | - | - | €2,080 | €1,184 | €4,627 | ▲ 291% |
| Current assets29/58 | €51,958 | €80,697 | €102,838 | €84,657 | €100,916 | €97,705 | €59,361 | ▼ 39.2% |
| Amounts receivable within one year40/41 | €8,011 | €61 | €9 | €9,037 | €6,297 | €12,603 | €12,818 | ▲ 1.7% |
| Trade receivables40 | - | - | - | €5,354 | €6,296 | €9,068 | €12,818 | ▲ 41.4% |
| Other amounts receivable41 | - | - | - | €3,683 | €2 | €3,535 | - | - |
| Current investments50/53 | €38,971 | €69,002 | €86,059 | €62,809 | €72,822 | €73,061 | €45,872 | ▼ 37.2% |
| Cash at bank and in hand54/58 | €4,976 | €11,634 | €16,770 | €12,812 | €21,797 | €11,791 | €422 | ▼ 96.4% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €250 | €250 | = |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €66,525 | €89,969 | €108,488 | €85,203 | €103,074 | €98,888 | €63,988 | ▼ 35.3% |
| Equity10/15 | €56,802 | €66,727 | €80,085 | €64,890 | €79,889 | €72,253 | €42,672 | ▼ 40.9% |
| Contributions10/11 | €6,200 | - | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €47,527 | €57,453 | €57,453 | €37,619 | €37,619 | €20,974 | €20,974 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | - | €35,759 | €35,759 | €20,974 | €20,974 | = |
| Profit (loss) carried forward14 | €3,074 | €3,074 | €16,432 | €8,671 | €23,669 | €32,680 | €3,098 | ▼ 90.5% |
| Amounts payable17/49 | €9,723 | €23,242 | €28,403 | €20,313 | €23,185 | €26,635 | €21,316 | ▼ 20.0% |
| Amounts payable after more than one year17 | - | - | - | - | - | - | €15,000 | - |
| Other amounts payable178/9 | - | - | - | - | - | - | €15,000 | - |
| Amounts payable within one year42/48 | €9,723 | €23,242 | €28,403 | €20,313 | €23,185 | €26,635 | €6,316 | ▼ 76.3% |
| Trade debts44 | €472 | €827 | €923 | €858 | €1,852 | €3,394 | €1,209 | ▼ 64.4% |
| Suppliers440/4 | - | - | - | €858 | €1,852 | €3,394 | €1,209 | ▼ 64.4% |
| Taxes, remuneration and social security45 | - | - | - | €838 | €1,456 | €657 | €2,258 | ▲ 244% |
| Taxes450/3 | - | - | - | €838 | €1,456 | €657 | €2,258 | ▲ 244% |
| Other amounts payable47/48 | - | - | - | €18,617 | €19,877 | €22,584 | €2,849 | ▼ 87.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,048 | €9,925 | €13,358 | €13,038 | €14,999 | €7,150 | €419 | ▼ 94.1% |
| + Depreciation and write-downs630 | €5,294 | €5,294 | €5,026 | €5,104 | €1,077 | €975 | €1,573 | ▲ 61.4% |
| Operating cash flow (approximation) | €16,343 | €15,220 | €18,384 | €18,143 | €16,076 | €8,125 | €1,992 | ▼ 75.5% |
| Investment in fixed assets (approximation) | - | €0 | -€1,404 | €0 | -€2,689 | €0 | -€5,016 | - |
| Change in cash | - | €6,658 | €5,136 | -€3,958 | €8,986 | -€10,006 | -€11,369 | ▼ 13.6% |
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, 10,904 companies had the same profile as THINKIT has now. Two years later, 95.1% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
95.1%
was still going
4.0%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of THINKIT itself: 0.3% 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 10,904 companies, not a prediction for THINKIT. 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.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 02-12-2025 | 2025-00574963 | |
| 30-06-2024 | micro format | 12-01-2025 | 2025-00003465 | |
| 30-06-2023 | micro format | 21-12-2023 | 2023-00536042 | |
| 30-06-2022 | micro format | 21-12-2022 | 2022-20547019 | |
| 30-06-2021 | micro format | 16-12-2021 | 2021-80700236 | |
| 30-06-2020 | micro format | 02-02-2021 | 2021-04800043 | |
| 30-06-2019 | micro format | 21-01-2020 | 2020-02000354 | |
| 30-06-2018 | micro format | 30-01-2019 | 2019-03600595 | |
| 30-06-2017 | micro format | 23-01-2018 | 2018-02100051 | |
| 30-06-2016 | abbreviated format | 10-01-2017 | 2017-01200188 |