THUNDERBALL
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 31-10-2025 PDF all 22 filings
Every figure per financial year
The operating result for 2025 is a loss of €2,209, against a loss of €2,300 in 2023. Comparable figures for the intervening years are unavailable.
Turnover and EBIT margin are not published. The micro format does not require them.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €40,045 | €1,815 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €24,974 | €27,393 | €27,393 | €5,619 | - | - | - |
| Other operating charges640/8 | - | - | - | €677 | €485 | - | - |
| Non-recurring operating charges66A | - | - | - | €200,000 | - | - | - |
| Gross operating margin9900 | -€60,532 | -€63,841 | -€28,007 | -€40,045 | -€1,815 | -€2,209 | - |
| Operating profit (loss)9901 | -€87,039 | -€92,758 | -€56,127 | -€246,341 | -€2,300 | -€2,209 | - |
| Financial charges65/66B | - | - | - | €78 | €71 | €76 | - |
| Recurring financial charges65 | €130 | €75 | €82 | €78 | €71 | €76 | - |
| Profit (loss) for the period before taxes9903 | -€87,169 | -€92,832 | -€56,209 | -€246,419 | -€2,371 | -€2,285 | - |
| Income taxes67/77 | €2,282 | €94 | €41 | €39 | €39 | - | - |
| Profit (loss) for the period9904 | -€89,451 | -€92,926 | -€56,250 | -€246,458 | -€2,410 | -€2,285 | - |
| Transfer from tax-exempt reserves789 | - | - | - | €40,000 | €40,000 | €40,000 | - |
| Profit (loss) for the period to be appropriated9905 | -€49,451 | -€52,926 | -€16,250 | -€206,458 | €37,590 | €37,715 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €425,044 | €330,685 | €275,998 | €8,923 | €7,569 | €7,482 | - |
| Formation expenses20 | €50,806 | €26,613 | €2,419 | - | - | - | - |
| Fixed assets21/28 | €209,599 | €206,400 | €203,200 | - | - | - | - |
| Tangible fixed assets22/27 | €9,599 | €6,400 | €3,200 | - | - | - | - |
| Financial fixed assets28 | €200,000 | €200,000 | €200,000 | - | - | - | - |
| Current assets29/58 | €164,638 | €97,673 | €70,379 | €8,923 | €7,569 | €7,482 | - |
| Amounts receivable within one year40/41 | €9,498 | €37,192 | €38,610 | €6,436 | €6,436 | €6,436 | - |
| Other amounts receivable41 | - | - | - | €6,436 | €6,436 | €6,436 | - |
| Cash at bank and in hand54/58 | €155,140 | €60,481 | €31,769 | €2,487 | €1,133 | €1,046 | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €425,044 | €330,685 | €275,998 | €8,923 | €7,569 | €7,482 | - |
| Equity10/15 | €261,978 | €182,420 | €139,538 | -€114,553 | -€103,595 | -€80,802 | - |
| Contributions10/11 | €20,000 | €20,000 | - | €20,000 | €20,000 | €20,000 | - |
| Reserves13 | €371,644 | €345,012 | €318,380 | €291,748 | €265,116 | €211,852 | - |
| Non-distributable reserves130/1 | - | - | - | €2,000 | €2,000 | €2,000 | - |
| Reserves not available under the articles1311 | - | - | - | €2,000 | €2,000 | €2,000 | - |
| Tax-exempt reserves132 | - | - | - | €239,688 | €213,056 | €159,792 | - |
| Distributable reserves133 | - | - | - | €50,060 | €50,060 | €50,060 | - |
| Profit (loss) carried forward14 | -€129,665 | -€182,592 | -€198,842 | -€426,300 | -€388,711 | -€312,653 | - |
| Provisions and deferred taxes16 | €160,416 | €147,048 | €133,680 | €120,312 | €106,944 | €80,208 | - |
| Provisions for liabilities and charges160/5 | - | - | - | €120,312 | €106,944 | €80,208 | - |
| Taxes161 | - | - | - | €120,312 | €106,944 | €80,208 | - |
| Amounts payable17/49 | €2,650 | €1,217 | €2,781 | €3,164 | €4,220 | €8,076 | - |
| Amounts payable within one year42/48 | €2,650 | €1,217 | €2,781 | €3,164 | €4,220 | €7,999 | - |
| Trade debts44 | €908 | €1,015 | €2,582 | €1,922 | €2,980 | €1,500 | - |
| Suppliers440/4 | - | - | - | €1,922 | €2,980 | €1,500 | - |
| Taxes, remuneration and social security45 | - | - | - | €238 | €236 | €0 | - |
| Taxes450/3 | - | - | - | €238 | €236 | €0 | - |
| Other amounts payable47/48 | - | - | - | €1,004 | €1,004 | €6,499 | - |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €76 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€89,451 | -€92,926 | -€56,250 | -€246,458 | -€2,410 | -€2,285 | - |
| + Depreciation and write-downs630 | €24,974 | €27,393 | €27,393 | €5,619 | - | - | - |
| Operating cash flow (approximation) | -€64,478 | -€65,533 | -€28,857 | -€240,839 | -€2,410 | -€2,285 | - |
| Investment in fixed assets (approximation) | - | -€24,193 | -€24,193 | - | - | - | - |
| Change in cash | - | -€94,660 | -€28,711 | -€29,282 | -€1,354 | - | - |
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 THUNDERBALL 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
Another 1.0% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of THUNDERBALL itself: 4.5% 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 THUNDERBALL. 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 22 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2025 | micro format | 31-10-2025 | 2025-00562234 | |
| 31-03-2023 | micro format | 22-09-2023 | 2023-00456342 | |
| 31-03-2022 | micro format | 30-09-2022 | 2022-20453469 | |
| 31-03-2021 | micro format | 27-09-2021 | 2021-69300582 | |
| 31-03-2020 | micro format | 21-10-2020 | 2020-62900349 | |
| 31-03-2019 | micro format | 27-09-2019 | 2019-67700134 | |
| 31-03-2018 | micro format | 27-09-2018 | 2018-67200417 | |
| 31-03-2017 | micro format | 22-05-2018 | 2018-14000098 | |
| 31-03-2016 | abbreviated format | 29-09-2016 | 2016-63700327 | |
| 31-03-2015 | abbreviated format | 29-12-2015 | 2015-70900169 |