TINY
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 06-07-2026 at the NBB all 29 filings
Turnover
≈ €100,000
Estimated: probably between €68,000 and €160,000
Total assets
€120,265▲ 7.2%
2024 · €112,234
Net result
€21,000▼ 45.7%
2024 · €38,680
Working capital
€30,388▲ 15.0%
2024 · €26,436
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€26,993
▼ 35.7%
2025
20182025
Net result
€21,000
▼ 45.7%
2025
middle half of the sector
20182025
Equity
€29,470
▲ 191%
2025
middle half of the sector
20182025
Total assets
€120,265
▲ 7.2%
2025
lowest quarter of the sector
20182025
Debt
€90,795
▼ 11.1%
2025
20182025
Working capital
€30,388
▲ 15.0%
2025
middle half of the sector
20182025
Solvency
24.5%
▲ 15.5pp
2025
middle half of the sector
20182025
Current ratio
1.59
▲ 0.09
2025
middle half of the sector
20182025
Return on assets (ROA)
17.5%
▼ 17.0pp
2025
highest 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€19,387--€5,019-€10,382▼ 107%€8,314-€5,596€4,265€42,007▲ 885%€26,993▼ 35.7%
Net result€18,506--€5,252-€10,546below the sector's middle half▼ 101%€8,204within the sector's middle half-€5,669within the sector's middle half€4,196within the sector's middle half€38,680above the sector's middle half▲ 822%€21,000within the sector's middle half▼ 45.7%
Equity-€12,811--€18,063▼ 41.0%-€28,609below the sector's middle half▼ 58.4%-€20,405below the sector's middle half▲ 28.7%-€26,074below the sector's middle half▼ 27.8%-€21,878below the sector's middle half▲ 16.1%€10,136below the sector's middle half€29,470within the sector's middle half▲ 191%
Total assets€66,534-€74,981▲ 12.7%€62,014below the sector's middle half▼ 17.3%€78,432below the sector's middle half▲ 26.5%€94,891below the sector's middle half▲ 21.0%€51,274below the sector's middle half▼ 46.0%€112,234below the sector's middle half▲ 119%€120,265below the sector's middle half▲ 7.2%
Debt€79,346-€93,044▲ 17.3%€90,623▼ 2.6%€98,837▲ 9.1%€120,965▲ 22.4%€73,152▼ 39.5%€102,098▲ 39.6%€90,795▼ 11.1%
Working capital€10,054-€23,558▲ 134%€12,809within the sector's middle half▼ 45.6%€24,381within the sector's middle half▲ 90.3%€21,211within the sector's middle half▼ 13.0%€31,873within the sector's middle half▲ 50.3%€26,436within the sector's middle half▼ 17.1%€30,388within the sector's middle half▲ 15.0%
Solvency-19.3%--24.1%▼ 4.8pp-46.1%below the sector's middle half▼ 22.0pp-26.0%below the sector's middle half▲ 20.1pp-27.5%below the sector's middle half▼ 1.5pp-42.7%below the sector's middle half▼ 15.2pp9.0%within the sector's middle half▲ 51.7pp24.5%within the sector's middle half▲ 15.5pp
Current ratio1.23-1.52▲ 0.281.34within the sector's middle half▼ 0.171.65within the sector's middle half▲ 0.301.35within the sector's middle half▼ 0.304.18above the sector's middle half▲ 2.831.49within the sector's middle half▼ 2.691.59within the sector's middle half▲ 0.09
Return on assets (ROA)27.8%--7.0%▼ 34.8pp-17.0%below the sector's middle half▼ 10.0pp10.5%above the sector's middle half▲ 27.5pp-6.0%below the sector's middle half▼ 16.4pp8.2%within the sector's middle half▲ 14.2pp34.5%above the sector's middle half▲ 26.3pp17.5%above the sector's middle half▼ 17.0pp
above
within
below
The sector band is the middle half of the companies in Crop and animal production, hunting and related service activities (NACE 01). 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 36% lower than 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 €120,265
Fixed assets
€38,100 ▲ 17.9%
Current assets
€82,165 ▲ 2.8%
Equity and liabilities €120,265
Equity
€29,470 ▲ 191%
Debt
€90,795 ▼ 11.1%
Debt's share of the balance-sheet total falls from 91.0% to 75.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€36,774▼
2024 · €47,569
Cash flow
€30,781▼
2024 · €44,242
Quick ratio
1.19▲
2024 · 0.69
Debt to equity
3.08▼
2024 · 10.07
ROE
71.3%▼
2024 · 381.6%
Interest coverage
46.52▼
2024 · over 100
Debt ≤ 1 year
€51,777▼
2024 · €53,494
Debt > 1 year
€29,898▼
2024 · €42,370
Income taxes
€5,296▲
2024 · €3,222
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 | €8,399 | €1,900 | €2,400 | €30,463 | €15,576 |
| Financial fixed assets | - | €26 | - | - | €0 |
| Depreciation and write-downs of the year | €4,018 | €5,499 | €5,774 | €5,562 | €9,781 |
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 | - | - | - | €9,788 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,687 | €7,262 | €6,275 | €4,018 | €5,499 | €5,774 | €5,562 | €9,781 | ▲ 75.9% |
| Other operating charges640/8 | - | - | - | €1,161 | €983 | €640 | €1,785 | €1,302 | ▼ 27.1% |
| Gross operating margin9900 | €28,237 | €3,325 | -€2,278 | €13,493 | €886 | €10,679 | €49,354 | €38,076 | ▼ 22.9% |
| Operating profit (loss)9901 | €19,387 | -€5,019 | -€10,382 | €8,314 | -€5,596 | €4,265 | €42,007 | €26,993 | ▼ 35.7% |
| Financial income75/76B | - | - | - | €11 | €0 | €0 | €0 | €94 | ▲ 447× |
| Recurring financial income75 | €1 | €3 | €10 | €11 | €0 | €0 | €0 | €94 | ▲ 447× |
| Financial charges65/66B | - | - | - | €122 | €72 | €69 | €105 | €791 | ▲ 650% |
| Recurring financial charges65 | €882 | €237 | €174 | €122 | €72 | €69 | €105 | €791 | ▲ 650% |
| Profit (loss) for the period before taxes9903 | €18,506 | -€5,252 | -€10,546 | €8,204 | -€5,669 | €4,196 | €41,902 | €26,296 | ▼ 37.2% |
| Income taxes67/77 | - | - | - | - | - | - | €3,222 | €5,296 | ▲ 64.4% |
| Profit (loss) for the period9904 | €18,506 | -€5,252 | -€10,546 | €8,204 | -€5,669 | €4,196 | €38,680 | €21,000 | ▼ 45.7% |
| Profit (loss) for the period to be appropriated9905 | €18,506 | -€5,252 | -€10,546 | €8,204 | -€5,669 | €4,196 | €38,680 | €21,000 | ▼ 45.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €66,534 | €74,981 | €62,014 | €78,432 | €94,891 | €51,274 | €112,234 | €120,265 | ▲ 7.2% |
| Fixed assets21/28 | €13,043 | €5,781 | €11,954 | €16,335 | €12,762 | €9,388 | €32,305 | €38,100 | ▲ 17.9% |
| Tangible fixed assets22/27 | €13,043 | €5,781 | €11,954 | €16,335 | €12,736 | €9,362 | €32,279 | €38,074 | ▲ 18.0% |
| Plant, machinery and equipment23 | - | - | - | €4,856 | €5,142 | €5,654 | €9,040 | €19,774 | ▲ 119% |
| Furniture and vehicles24 | - | - | - | €11,479 | €7,594 | €3,708 | €23,239 | €18,300 | ▼ 21.3% |
| Financial fixed assets28 | - | - | - | - | €26 | €26 | €26 | €26 | = |
| Current assets29/58 | €53,491 | €69,200 | €50,060 | €62,097 | €82,129 | €41,886 | €79,929 | €82,165 | ▲ 2.8% |
| Amounts receivable after more than one year29 | - | - | - | - | - | - | - | €10,299 | - |
| Other amounts receivable291 | - | - | - | - | - | - | - | €10,299 | - |
| Stocks and contracts in progress3 | €27,081 | €28,298 | €31,432 | €15,977 | €56,055 | €1,814 | €43,006 | €20,520 | ▼ 52.3% |
| Stocks30/36 | - | - | - | €15,977 | €56,055 | €1,814 | €43,006 | €20,520 | ▼ 52.3% |
| Amounts receivable within one year40/41 | €7,735 | €6,013 | €5,930 | €12,468 | €8,157 | €4,456 | €13,192 | €5,845 | ▼ 55.7% |
| Trade receivables40 | - | - | - | €11,811 | €4,020 | €4,456 | €4,123 | €4,060 | ▼ 1.5% |
| Other amounts receivable41 | - | - | - | €657 | €4,137 | - | €9,068 | €1,785 | ▼ 80.3% |
| Cash at bank and in hand54/58 | €6,673 | €29,614 | €8,729 | €21,335 | €8,190 | €27,210 | €17,058 | €35,313 | ▲ 107% |
| Deferred charges and accrued income490/1 | - | - | - | €12,316 | €9,726 | €8,405 | €6,673 | €10,189 | ▲ 52.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €66,534 | €74,981 | €62,014 | €78,432 | €94,891 | €51,274 | €112,234 | €120,265 | ▲ 7.2% |
| Equity10/15 | -€12,811 | -€18,063 | -€28,609 | -€20,405 | -€26,074 | -€21,878 | €10,136 | €29,470 | ▲ 191% |
| Contributions10/11 | €18,592 | €18,592 | - | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Contributions outside capital11 | - | - | - | €18,592 | - | - | - | - | - |
| Other1109/19 | - | - | - | €18,592 | - | - | - | - | - |
| Reserves13 | - | - | - | - | - | - | - | €10,878 | - |
| Distributable reserves133 | - | - | - | - | - | - | - | €10,878 | - |
| Profit (loss) carried forward14 | -€31,403 | -€36,655 | -€47,201 | -€38,997 | -€44,666 | -€40,470 | -€8,456 | €0 | - |
| Amounts payable17/49 | €79,346 | €93,044 | €90,623 | €98,837 | €120,965 | €73,152 | €102,098 | €90,795 | ▼ 11.1% |
| Amounts payable after more than one year17 | €35,908 | €47,402 | €52,386 | €59,111 | €60,047 | €61,979 | €42,370 | €29,898 | ▼ 29.4% |
| Financial debts170/4 | - | - | - | €29,898 | €29,898 | €29,898 | €29,898 | €29,898 | = |
| Other amounts payable178/9 | - | - | - | €29,213 | €30,149 | €32,081 | €12,472 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €43,438 | €45,642 | €37,251 | €37,716 | €60,918 | €10,013 | €53,494 | €51,777 | ▼ 3.2% |
| Trade debts44 | €31,790 | €30,592 | €32,407 | €33,050 | €52,883 | €9,314 | €43,431 | €44,593 | ▲ 2.7% |
| Suppliers440/4 | - | - | - | €33,050 | €52,883 | €9,314 | €43,431 | €44,593 | ▲ 2.7% |
| Taxes, remuneration and social security45 | - | - | - | €4,666 | €8,035 | €699 | €3,397 | €5,518 | ▲ 62.4% |
| Taxes450/3 | - | - | - | - | €165 | €699 | €3,397 | €3,693 | ▲ 8.7% |
| Remuneration and social security454/9 | - | - | - | €4,666 | €7,870 | - | - | €1,825 | - |
| Other amounts payable47/48 | - | - | - | - | - | - | €6,666 | €1,666 | ▼ 75.0% |
| Accrued charges and deferred income492/3 | - | - | - | €2,010 | - | €1,160 | €6,235 | €9,120 | ▲ 46.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,506 | -€5,252 | -€10,546 | €8,204 | -€5,669 | €4,196 | €38,680 | €21,000 | ▼ 45.7% |
| + Depreciation and write-downs630 | €7,687 | €7,262 | €6,275 | €4,018 | €5,499 | €5,774 | €5,562 | €9,781 | ▲ 75.9% |
| Operating cash flow (approximation) | €26,193 | €2,010 | -€4,271 | €12,221 | -€170 | €9,969 | €44,242 | €30,781 | ▼ 30.4% |
| Investment in fixed assets (approximation) | - | €0 | -€12,448 | -€8,399 | -€1,926 | -€2,400 | -€28,478 | -€15,576 | ▲ 45.3% |
| Change in cash | - | €22,942 | -€20,885 | €12,606 | -€13,145 | €19,020 | -€10,152 | €18,255 | - |
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, 3,818 companies had the same profile as TINY has now. Two years later, 95.1% were still going and 1.0% had gone bankrupt.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
95.1%
was still going
3.7%
stopped otherwise
1.0%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of TINY 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 3,818 companies, not a prediction for TINY. 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 29 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 06-07-2026 | 2026-00264587 | |
| 31-12-2024 | micro format | 31-08-2025 | 2025-00461016 | |
| 31-12-2023 | micro format | 27-08-2024 | 2024-00378992 | |
| 31-12-2022 | micro format | 28-08-2023 | 2023-00361520 | |
| 31-12-2021 | micro format | 27-07-2022 | 2022-20229994 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-60300536 | |
| 31-12-2019 | micro format | 06-10-2020 | 2020-59100572 | |
| 31-12-2018 | micro format | 27-08-2019 | 2019-51800250 | |
| 31-12-2017 | micro format | 31-07-2018 | 2018-40900377 | |
| 31-12-2016 | micro format | 31-07-2017 | 2017-39400504 |