THUISZORG
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 19-05-2026 PDF all 31 filings
Turnover
≈ €87,000
Estimated: probably between €67,000 and €120,000
Total assets
€320,079▼ 5.2%
2024 · €337,798
Net result
-€1,345
2024 · €13,667
Working capital
-€28,553▲ 22.6%
2024 · -€36,882
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€5,457
▼ 79.5%
2025
20182025
Net result
-€1,345
2025
lowest quarter of the sector
20182025
Equity
€251,559
▼ 0.5%
2025
middle half of the sector
20182025
Total assets
€320,079
▼ 5.2%
2025
middle half of the sector
20182025
Debt
€68,520
▼ 19.3%
2025
20182025
Working capital
-€28,553
▲ 22.6%
2025
lowest quarter of the sector
20182025
Solvency
78.6%
▲ 3.7pp
2025
middle half of the sector
20182025
Current ratio
0.23
▲ 0.07
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
-0.4%
▼ 4.5pp
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-€6,038-€14,148€43,598▲ 208%-€54,474€3,195€28,744▲ 800%€26,621▼ 7.4%€5,457▼ 79.5%
Net result-€9,730-€8,526€27,008within the sector's middle half▲ 217%€136,735above the sector's middle half▲ 406%-€546below the sector's middle half€15,276below the sector's middle half€13,667below the sector's middle half▼ 10.5%-€1,345below the sector's middle half
Equity€59,594-€66,520▲ 11.6%€91,928within the sector's middle half▲ 38.2%€227,063within the sector's middle half▲ 147%€225,772within the sector's middle half▼ 0.6%€239,448within the sector's middle half▲ 6.1%€252,904within the sector's middle half▲ 5.6%€251,559within the sector's middle half▼ 0.5%
Total assets€95,765-€118,007▲ 23.2%€127,407below the sector's middle half▲ 8.0%€339,209within the sector's middle half▲ 166%€334,985within the sector's middle half▼ 1.2%€323,214within the sector's middle half▼ 3.5%€337,798within the sector's middle half▲ 4.5%€320,079within the sector's middle half▼ 5.2%
Debt€36,172-€51,487▲ 42.3%€35,479▼ 31.1%€112,146▲ 216%€109,213▼ 2.6%€83,766▼ 23.3%€84,894▲ 1.3%€68,520▼ 19.3%
Working capital-€9,255--€3,705▲ 60.0%€23,426within the sector's middle half-€45,520below the sector's middle half-€78,672below the sector's middle half▼ 72.8%-€48,650below the sector's middle half▲ 38.2%-€36,882below the sector's middle half▲ 24.2%-€28,553below the sector's middle half▲ 22.6%
Solvency62.2%-56.4%▼ 5.9pp72.2%within the sector's middle half▲ 15.8pp66.9%within the sector's middle half▼ 5.2pp67.4%within the sector's middle half▲ 0.5pp74.1%within the sector's middle half▲ 6.7pp74.9%within the sector's middle half▲ 0.8pp78.6%within the sector's middle half▲ 3.7pp
Current ratio0.74-0.91▲ 0.161.90within the sector's middle half▲ 1.000.35below the sector's middle half▼ 1.550.09below the sector's middle half▼ 0.270.10below the sector's middle half▲ 0.010.16below the sector's middle half▲ 0.070.23below the sector's middle half▲ 0.07
Return on assets (ROA)-10.2%-7.2%▲ 17.4pp21.2%within the sector's middle half▲ 14.0pp40.3%above the sector's middle half▲ 19.1pp-0.2%below the sector's middle half▼ 40.5pp4.7%below the sector's middle half▲ 4.9pp4.0%below the sector's middle half▼ 0.7pp-0.4%below the sector's middle half▼ 4.5pp
above
within
below
The sector band is the middle half of the companies in Human health activities (NACE 86). 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 80% lower than in 2024. It is the second fall in a row.
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 €320,079
Fixed assets
€311,445 ▼ 5.8%
Current assets
€8,634 ▲ 19.3%
Equity and liabilities €320,079
Equity
€251,559 ▼ 0.5%
Debt
€68,520 ▼ 19.3%
Debt's share of the balance-sheet total falls from 25.1% to 21.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
€27,143▼
2024 · €44,805
Cash flow
€20,341▼
2024 · €31,851
Debt to equity
0.27▼
2024 · 0.34
ROE
-0.5%▼
2024 · 5.4%
Interest coverage
5.03▼
2024 · 9.41
Debt ≤ 1 year
€37,187▼
2024 · €44,117
Debt > 1 year
€29,417▼
2024 · €40,595
Income taxes
€1,489▼
2024 · €8,193
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 | €316,719 | €22,556 | €10,739 | €30,774 | €2,569 |
| Depreciation and write-downs of the year | €16,309 | €18,849 | €20,307 | €18,184 | €21,686 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €1,320 | €800 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,111 | €12,213 | €11,184 | €16,309 | €18,849 | €20,307 | €18,184 | €21,686 | ▲ 19.3% |
| Other operating charges640/8 | - | - | - | €1,874 | €1,542 | €3,344 | €2,214 | €1,777 | ▼ 19.7% |
| Non-recurring operating charges66A | - | - | - | - | €24,139 | - | - | - | - |
| Gross operating margin9900 | €8,270 | €28,694 | €56,215 | -€36,290 | €47,725 | €52,395 | €47,020 | €28,920 | ▼ 38.5% |
| Operating profit (loss)9901 | -€6,038 | €14,148 | €43,598 | -€54,474 | €3,195 | €28,744 | €26,621 | €5,457 | ▼ 79.5% |
| Financial income75/76B | - | - | - | €269,747 | €0 | - | - | €83 | - |
| Recurring financial income75 | €395 | €653 | €332 | €1 | €0 | - | - | €83 | - |
| Non-recurring financial income76B | - | - | - | €269,746 | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €10,128 | €1,770 | €3,778 | €4,761 | €5,396 | ▲ 13.3% |
| Recurring financial charges65 | €2,558 | €3,303 | €2,926 | €10,128 | €1,770 | €3,778 | €4,761 | €5,396 | ▲ 13.3% |
| Profit (loss) for the period before taxes9903 | -€8,200 | €11,498 | €41,003 | €205,146 | €1,425 | €24,966 | €21,860 | €144 | ▼ 99.3% |
| Income taxes67/77 | €1,529 | €2,972 | €13,995 | €68,411 | €1,971 | €9,690 | €8,193 | €1,489 | ▼ 81.8% |
| Profit (loss) for the period9904 | -€9,730 | €8,526 | €27,008 | €136,735 | -€546 | €15,276 | €13,667 | -€1,345 | - |
| Profit (loss) for the period to be appropriated9905 | -€9,730 | €8,526 | €27,008 | €136,735 | -€546 | €15,276 | €13,667 | -€1,345 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €95,765 | €118,007 | €127,407 | €339,209 | €334,985 | €323,214 | €337,798 | €320,079 | ▼ 5.2% |
| Formation expenses20 | - | - | - | - | €0 | - | - | €0 | - |
| Fixed assets21/28 | €68,849 | €81,847 | €78,064 | €314,519 | €327,540 | €317,972 | €330,563 | €311,445 | ▼ 5.8% |
| Tangible fixed assets22/27 | €68,709 | €81,707 | €77,924 | €314,379 | €327,540 | €317,972 | €330,563 | €311,445 | ▼ 5.8% |
| Land and buildings22 | - | - | - | €302,434 | €320,452 | €317,143 | €303,617 | €290,689 | ▼ 4.3% |
| Plant, machinery and equipment23 | - | - | - | - | - | - | €1,011 | €606 | ▼ 40.0% |
| Furniture and vehicles24 | - | - | - | €11,945 | €7,088 | €829 | €25,935 | €20,151 | ▼ 22.3% |
| Financial fixed assets28 | €140 | €140 | €140 | €140 | - | - | - | - | - |
| Current assets29/58 | €26,916 | €36,159 | €49,344 | €24,690 | €7,445 | €5,242 | €7,235 | €8,634 | ▲ 19.3% |
| Amounts receivable within one year40/41 | €26,916 | €36,159 | €23,614 | - | €7,445 | - | €6,836 | €2,678 | ▼ 60.8% |
| Trade receivables40 | - | - | - | - | €7,445 | - | €6,836 | €24 | ▼ 99.7% |
| Other amounts receivable41 | - | - | - | - | - | - | - | €2,654 | - |
| Current investments50/53 | €0 | €0 | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | - | - | €25,439 | €18,310 | €0 | - | - | - | - |
| Deferred charges and accrued income490/1 | - | - | - | €6,380 | - | €5,242 | €399 | €5,956 | ▲ 15× |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €95,765 | €118,007 | €127,407 | €339,209 | €334,985 | €323,214 | €337,798 | €320,079 | ▼ 5.2% |
| Equity10/15 | €59,594 | €66,520 | €91,928 | €227,063 | €225,772 | €239,448 | €252,904 | €251,559 | ▼ 0.5% |
| Contributions10/11 | €8,684 | €8,684 | - | €8,684 | €8,684 | €8,684 | €8,684 | €8,684 | = |
| Reserves13 | €50,909 | €57,836 | €83,244 | €218,379 | €213,244 | €226,920 | €242,042 | €242,042 | = |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | €1,859 | €1,859 | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,859 | €1,859 | €1,859 | €1,859 | - | - |
| Distributable reserves133 | - | - | - | €216,520 | €211,385 | €225,061 | €240,182 | €242,042 | ▲ 0.8% |
| Profit (loss) carried forward14 | - | - | - | - | €3,844 | €3,844 | €2,178 | €833 | ▼ 61.7% |
| Amounts payable17/49 | €36,172 | €51,487 | €35,479 | €112,146 | €109,213 | €83,766 | €84,894 | €68,520 | ▼ 19.3% |
| Amounts payable after more than one year17 | - | €11,622 | €9,562 | €40,505 | €23,096 | €29,455 | €40,595 | €29,417 | ▼ 27.5% |
| Financial debts170/4 | - | - | - | €40,505 | €23,096 | €29,455 | €40,595 | €29,417 | ▼ 27.5% |
| Amounts payable within one year42/48 | €36,172 | €39,864 | €25,917 | €70,210 | €86,117 | €53,892 | €44,117 | €37,187 | ▼ 15.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €11,860 | €17,408 | €26,358 | €30,626 | €15,437 | ▼ 49.6% |
| Financial debts43 | - | - | - | - | €1,976 | €9,281 | €2,720 | €20,538 | ▲ 655% |
| Credit institutions430/8 | - | - | - | - | €1,976 | €9,281 | €2,720 | €20,538 | ▲ 655% |
| Trade debts44 | €4,425 | €7,608 | €3,621 | €342 | €361 | €0 | €1,630 | €0 | ▼ 100% |
| Suppliers440/4 | - | - | - | €342 | €361 | €0 | €1,630 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | - | €38,411 | €39,586 | €4,996 | €6,334 | €1,193 | ▼ 81.2% |
| Taxes450/3 | - | - | - | €38,411 | €39,586 | €4,996 | €6,334 | €1,193 | ▼ 81.2% |
| Other amounts payable47/48 | - | - | - | €19,597 | €26,785 | €13,257 | €2,807 | €19 | ▼ 99.3% |
| Accrued charges and deferred income492/3 | - | - | - | €1,432 | - | €419 | €182 | €1,917 | ▲ 954% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€9,730 | €8,526 | €27,008 | €136,735 | -€546 | €15,276 | €13,667 | -€1,345 | - |
| + Depreciation and write-downs630 | €13,111 | €12,213 | €11,184 | €16,309 | €18,849 | €20,307 | €18,184 | €21,686 | ▲ 19.3% |
| Operating cash flow (approximation) | €3,381 | €20,740 | €38,192 | €153,044 | €18,303 | €35,583 | €31,851 | €20,341 | ▼ 36.1% |
| Investment in fixed assets (approximation) | - | -€25,212 | -€7,400 | -€252,765 | -€31,870 | -€10,739 | -€30,775 | -€2,569 | ▲ 91.7% |
| Change in cash | - | - | - | -€7,129 | -€18,310 | - | - | - | - |
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, 12,322 companies had the same profile as THUISZORG has now. Two years later, 90.3% were still going and 0.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
90.3%
was still going
8.6%
stopped otherwise
0.7%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of THUISZORG 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 12,322 companies, not a prediction for THUISZORG. 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 31 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 19-05-2026 | 2026-00117956 | |
| 31-12-2024 | micro format | 28-08-2025 | 2025-00453596 | |
| 31-12-2023 | micro format | 11-10-2024 | 2024-00504292 | |
| 31-12-2022 | micro format | 05-07-2023 | 2023-00203804 | |
| 31-12-2021 | micro format | 29-07-2022 | 2022-20253940 | |
| 31-12-2020 | micro format | 30-07-2021 | 2021-42700566 | |
| 31-12-2019 | micro format | 31-07-2020 | 2020-36800586 | |
| 31-12-2018 | micro format | 24-08-2019 | 2019-49800092 | |
| 31-12-2017 | micro format | 22-06-2018 | 2018-21000103 | |
| 31-12-2016 | micro format | 08-06-2017 | 2017-15900314 |