THISISNOT
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00497207.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 18 filings
Equity
€249,406▼ 1.4%
2024 · €253,033
Total assets
€254,087▼ 5.6%
2024 · €269,284
Net result
-€3,627▲ 79.0%
2024 · -€17,271
Working capital
€241,494▼ 2.6%
2024 · €247,943
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€8,089
▲ 67.8%
2025
20182025
Net result
-€3,627
▲ 79.0%
2025
lowest quarter of the sector
20182025
Equity
€249,406
▼ 1.4%
2025
highest quarter of the sector
20182025
Total assets
€254,087
▼ 5.6%
2025
middle half of the sector
20182025
Debt
€4,681
▼ 71.2%
2025
20182025
Working capital
€241,494
▼ 2.6%
2025
highest quarter of the sector
20182025
Solvency
98.2%
▲ 4.2pp
2025
highest quarter of the sector
20182025
Current ratio
52.59
▲ 36.33
2025
highest quarter of the sector
20182025
Return on assets (ROA)
-1.4%
▲ 5.0pp
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€99,842-€39,367▼ 60.6%€15,624▼ 60.3%€37,388▲ 139%€61,171▲ 63.6%€18,201▼ 70.2%-€25,141-€8,089▲ 67.8%
Net result€67,769-€29,207▼ 56.9%€11,719within the sector's middle half▼ 59.9%€28,369within the sector's middle half▲ 142%€42,702within the sector's middle half▲ 50.5%€14,588within the sector's middle half▼ 65.8%-€17,271below the sector's middle half-€3,627below the sector's middle half▲ 79.0%
Equity€143,719-€172,927▲ 20.3%€184,646above the sector's middle half▲ 6.8%€213,014above the sector's middle half▲ 15.4%€255,717above the sector's middle half▲ 20.0%€270,304above the sector's middle half▲ 5.7%€253,033above the sector's middle half▼ 6.4%€249,406above the sector's middle half▼ 1.4%
Total assets€254,755-€184,022▼ 27.8%€200,351within the sector's middle half▲ 8.9%€257,292within the sector's middle half▲ 28.4%€298,997within the sector's middle half▲ 16.2%€314,167within the sector's middle half▲ 5.1%€269,284within the sector's middle half▼ 14.3%€254,087within the sector's middle half▼ 5.6%
Debt€111,035-€11,095▼ 90.0%€15,706▲ 41.6%€44,278▲ 182%€43,280▼ 2.3%€43,862▲ 1.3%€16,250▼ 63.0%€4,681▼ 71.2%
Working capital€127,231-€158,148▲ 24.3%€169,713above the sector's middle half▲ 7.3%€202,581above the sector's middle half▲ 19.4%€248,354above the sector's middle half▲ 22.6%€262,302above the sector's middle half▲ 5.6%€247,943above the sector's middle half▼ 5.5%€241,494above the sector's middle half▼ 2.6%
Solvency56.4%-94.0%▲ 37.6pp92.2%above the sector's middle half▼ 1.8pp82.8%above the sector's middle half▼ 9.4pp85.5%above the sector's middle half▲ 2.7pp86.0%above the sector's middle half▲ 0.5pp94.0%above the sector's middle half▲ 7.9pp98.2%above the sector's middle half▲ 4.2pp
Current ratio2.15-15.25▲ 13.1111.81above the sector's middle half▼ 3.455.58above the sector's middle half▼ 6.236.74above the sector's middle half▲ 1.166.98above the sector's middle half▲ 0.2416.26above the sector's middle half▲ 9.2852.59above the sector's middle half▲ 36.33
Return on assets (ROA)26.6%-15.9%▼ 10.7pp5.8%within the sector's middle half▼ 10.0pp11.0%within the sector's middle half▲ 5.2pp14.3%within the sector's middle half▲ 3.3pp4.6%within the sector's middle half▼ 9.6pp-6.4%below the sector's middle half▼ 11.1pp-1.4%below the sector's middle half▲ 5.0pp
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 a loss of €8,089, smaller than the loss of €25,141 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 €254,087
Fixed assets
€7,912 ▲ 55.4%
Current assets
€246,175 ▼ 6.8%
Equity and liabilities €254,087
Equity
€249,406 ▼ 1.4%
Debt
€4,681 ▼ 71.2%
Debt's share of the balance-sheet total falls from 6.0% to 1.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€3,303▲
2024 · -€20,821
Cash flow
€1,159▲
2024 · -€12,952
Debt to equity
0.02▼
2024 · 0.06
ROE
-1.5%▲
2024 · -6.8%
Interest coverage
-3.55▲
2024 · -14.95
Debt ≤ 1 year
€4,681▼
2024 · €16,250
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 | - | €1,470 | €4,512 | €1,407 | €3,097 |
| Depreciation and write-downs of the year | €4,499 | €4,541 | €3,871 | €4,319 | €4,787 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,040 | €4,369 | €4,239 | €4,499 | €4,541 | €3,871 | €4,319 | €4,787 | ▲ 10.8% |
| Other operating charges640/8 | - | - | - | €348 | €100 | €2,006 | €268 | €120 | ▼ 55.2% |
| Gross operating margin9900 | €106,252 | €48,268 | €43,051 | €42,235 | €65,812 | €24,078 | -€20,553 | -€3,183 | ▲ 84.5% |
| Operating profit (loss)9901 | €99,842 | €39,367 | €15,624 | €37,388 | €61,171 | €18,201 | -€25,141 | -€8,089 | ▲ 67.8% |
| Financial income75/76B | - | - | - | €3,189 | - | €3,606 | €9,262 | €5,392 | ▼ 41.8% |
| Recurring financial income75 | €2,255 | €2,451 | €1,402 | €3,189 | - | €3,606 | €4,222 | €5,392 | ▲ 27.7% |
| Non-recurring financial income76B | - | - | - | - | - | - | €5,041 | - | - |
| Financial charges65/66B | - | - | - | €233 | €831 | €1,027 | €1,393 | €930 | ▼ 33.2% |
| Recurring financial charges65 | €146 | €316 | €282 | €233 | €831 | €1,027 | €1,393 | €930 | ▼ 33.2% |
| Profit (loss) for the period before taxes9903 | €101,952 | €41,502 | €16,743 | €40,345 | €60,340 | €20,780 | -€17,271 | -€3,627 | ▲ 79.0% |
| Income taxes67/77 | €34,182 | €12,295 | €5,024 | €11,976 | €17,638 | €6,192 | - | - | - |
| Profit (loss) for the period9904 | €67,769 | €29,207 | €11,719 | €28,369 | €42,702 | €14,588 | -€17,271 | -€3,627 | ▲ 79.0% |
| Profit (loss) for the period to be appropriated9905 | €67,769 | €29,207 | €11,719 | €28,369 | €42,702 | €14,588 | -€17,271 | -€3,627 | ▲ 79.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €254,755 | €184,022 | €200,351 | €257,292 | €298,997 | €314,167 | €269,284 | €254,087 | ▼ 5.6% |
| Fixed assets21/28 | €16,489 | €14,779 | €14,933 | €10,433 | €7,362 | €8,003 | €5,090 | €7,912 | ▲ 55.4% |
| Tangible fixed assets22/27 | €16,489 | €14,779 | €14,933 | €10,433 | €7,362 | €8,003 | €5,090 | €7,912 | ▲ 55.4% |
| Plant, machinery and equipment23 | - | - | - | €6,171 | €6,513 | €8,003 | €5,090 | €5,307 | ▲ 4.3% |
| Furniture and vehicles24 | - | - | - | €4,205 | €792 | - | - | €2,605 | - |
| Other tangible fixed assets26 | - | - | - | €57 | €57 | - | - | - | - |
| Current assets29/58 | €238,266 | €169,243 | €185,418 | €246,859 | €291,635 | €306,164 | €264,194 | €246,175 | ▼ 6.8% |
| Amounts receivable after more than one year29 | - | - | - | - | - | €120,000 | €120,000 | €164,000 | ▲ 36.7% |
| Other amounts receivable291 | - | - | - | - | - | €120,000 | €120,000 | €164,000 | ▲ 36.7% |
| Amounts receivable within one year40/41 | €90,470 | €71,668 | €73,971 | €69,766 | €124,473 | €54,768 | €34,497 | €12,624 | ▼ 63.4% |
| Trade receivables40 | - | - | - | €16,909 | €61,520 | €48,902 | €10,395 | €9,350 | ▼ 10.1% |
| Other amounts receivable41 | - | - | - | €52,856 | €62,953 | €5,866 | €24,102 | €3,273 | ▼ 86.4% |
| Cash at bank and in hand54/58 | €147,796 | €97,575 | €111,448 | €177,093 | €167,162 | €127,792 | €105,191 | €60,702 | ▼ 42.3% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €3,603 | €4,505 | €8,850 | ▲ 96.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €254,755 | €184,022 | €200,351 | €257,292 | €298,997 | €314,167 | €269,284 | €254,087 | ▼ 5.6% |
| Equity10/15 | €143,719 | €172,927 | €184,646 | €213,014 | €255,717 | €270,304 | €253,033 | €249,406 | ▼ 1.4% |
| Contributions10/11 | €32,000 | €32,000 | - | €32,000 | €32,000 | €32,000 | €32,000 | €32,000 | = |
| Reserves13 | €111,719 | €140,927 | €152,646 | €181,014 | €223,717 | €238,304 | €238,304 | €238,304 | = |
| Non-distributable reserves130/1 | - | - | - | €3,200 | €3,200 | €3,200 | €3,200 | €3,200 | = |
| Reserves not available under the articles1311 | - | - | - | €3,200 | €3,200 | €3,200 | €3,200 | €3,200 | = |
| Distributable reserves133 | - | - | - | €177,814 | €220,517 | €235,104 | €235,104 | €235,104 | = |
| Profit (loss) carried forward14 | - | - | - | - | - | - | -€17,271 | -€20,898 | ▼ 21.0% |
| Amounts payable17/49 | €111,035 | €11,095 | €15,706 | €44,278 | €43,280 | €43,862 | €16,250 | €4,681 | ▼ 71.2% |
| Amounts payable within one year42/48 | €111,035 | €11,095 | €15,706 | €44,278 | €43,280 | €43,862 | €16,250 | €4,681 | ▼ 71.2% |
| Trade debts44 | - | €9,736 | €1,529 | €435 | - | €9,364 | - | €4,681 | - |
| Suppliers440/4 | - | - | - | €435 | - | €9,364 | - | €4,681 | - |
| Advances received on contracts in progress46 | - | - | - | - | - | - | €5,000 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €43,843 | €43,280 | €34,498 | €11,250 | - | - |
| Taxes450/3 | - | - | - | €43,843 | €43,280 | €34,498 | €11,250 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €67,769 | €29,207 | €11,719 | €28,369 | €42,702 | €14,588 | -€17,271 | -€3,627 | ▲ 79.0% |
| + Depreciation and write-downs630 | €4,040 | €4,369 | €4,239 | €4,499 | €4,541 | €3,871 | €4,319 | €4,787 | ▲ 10.8% |
| Operating cash flow (approximation) | €71,809 | €33,577 | €15,958 | €32,868 | €47,244 | €18,459 | -€12,952 | €1,159 | - |
| Investment in fixed assets (approximation) | - | -€2,660 | -€4,393 | €0 | -€1,470 | -€4,512 | -€1,407 | -€7,608 | ▼ 441% |
| Change in cash | - | -€50,222 | €13,873 | €65,646 | -€9,931 | -€39,369 | -€22,601 | -€44,490 | ▼ 96.8% |
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, 6,908 companies had the same profile as THISISNOT has now. Two years later, 90.9% were still going and 1.1% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a small loss
90.9%
was still going
7.8%
stopped otherwise
1.1%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of THISISNOT 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 6,908 companies, not a prediction for THISISNOT. 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 18 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00497207 | |
| 31-12-2024 | micro format | 30-09-2025 | 2025-00530819 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00453916 | |
| 31-12-2022 | micro format | 29-02-2024 | 2024-00036295 | |
| 31-12-2021 | micro format | 07-09-2022 | 2022-20419888 | |
| 31-12-2020 | micro format | 17-11-2021 | 2021-77400197 | |
| 31-12-2019 | micro format | 30-09-2020 | 2020-57100123 | |
| 31-12-2018 | micro format | 27-08-2019 | 2019-51600205 | |
| 31-12-2017 | micro format | 26-09-2018 | 2018-64800283 | |
| 31-12-2016 | micro format | 28-09-2017 | 2017-63400224 |