togaether
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 27-07-2026 at the NBB all 13 filings
Turnover
€2.7m▼ 17.8%
2024 · €3.3m
EBIT margin
-0.4%▼ 14.0pp
2024 · 13.6%
Net result
-€32,175
2024 · €426,580
Working capital
€606,242▲ 9.0%
2024 · €556,100
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€2.7m
▼ 17.8%
2025
20182025
Operating result
-€11,455
2025
20182025
Net result
-€32,175
2025
middle half of the sector
20182025
EBIT margin
-0.4%
▼ 14.0pp
2025
20182025
Equity
€717,272
▼ 4.3%
2025
middle half of the sector
20182025
Total assets
€1.1m
▼ 14.7%
2025
middle half of the sector
20182025
Debt
€386,613
▼ 28.6%
2025
20182025
Working capital
€606,242
▲ 9.0%
2025
middle half of the sector
20182025
Solvency
64.6%
▲ 7.0pp
2025
highest quarter of the sector
20182025
Current ratio
2.57
▲ 0.54
2025
middle half of the sector
20182025
Return on assets (ROA)
-2.9%
▼ 35.7pp
2025
middle half of the sector
20182025
Staff (FTE)
13.3
▼ 15.3%
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€1.1m-€1.4m▲ 26.7%€0.3m▼ 77.0%€0.03m▼ 91.3%€1.6m▲ 58×€2.4m▲ 56.1%€3.3m▲ 36.4%€2.7m▼ 17.8%
Operating result-€0.1m--€0.4m▼ 183%-€0.1m▲ 63.1%-€0.01m▲ 91.9%€0.06m€0.2m▲ 341%€0.5m▲ 84.4%-€0.01m
Net result-€0.2m--€0.4m▼ 159%-€0.2mbelow the sector's middle half▲ 55.7%-€0.009mbelow the sector's middle half▲ 95.4%€0.04mwithin the sector's middle half€0.2mabove the sector's middle half▲ 407%€0.4mabove the sector's middle half▲ 93.8%-€0.03mwithin the sector's middle half
EBIT margin-13.0%--29.1%▼ 16.1pp-46.7%▼ 17.6pp-43.8%▲ 2.9pp3.6%▲ 47.4pp10.1%▲ 6.5pp13.6%▲ 3.6pp-0.4%▼ 14.0pp
Equity-€0.6m--€1.0m▼ 76.1%€2.5mabove the sector's middle half€0.06mwithin the sector's middle half▼ 97.6%€0.1mwithin the sector's middle half▲ 73.3%€0.3mwithin the sector's middle half▲ 214%€0.7mabove the sector's middle half▲ 132%€0.7mwithin the sector's middle half▼ 4.3%
Total assets€0.5m-€0.4m▼ 19.1%€2.6mabove the sector's middle half▲ 588%€0.06mbelow the sector's middle half▼ 97.6%€0.9mwithin the sector's middle half▲ 15×€0.8mwithin the sector's middle half▼ 9.8%€1.3mwithin the sector's middle half▲ 56.2%€1.1mwithin the sector's middle half▼ 14.7%
Debt€1.0m-€1.4m▲ 33.6%€0.1m▼ 92.8%€0.003m▼ 97.5%€0.8m▲ 324×€0.5m▼ 38.4%€0.5m▲ 7.0%€0.4m▼ 28.6%
Working capital-€0.6m--€1.0m▼ 67.3%€2.5mabove the sector's middle half€0.06mwithin the sector's middle half▼ 97.6%-€0.3mbelow the sector's middle half€0.04mwithin the sector's middle half€0.6mabove the sector's middle half▲ 15×€0.6mwithin the sector's middle half▲ 9.0%
Solvency-123.9%--269.7%▼ 145.8pp96.1%above the sector's middle half▲ 365.8pp95.9%above the sector's middle half▼ 0.2pp11.1%below the sector's middle half▼ 84.8pp38.8%within the sector's middle half▲ 27.7pp57.6%within the sector's middle half▲ 18.8pp64.6%above the sector's middle half▲ 7.0pp
Current ratio0.41-0.25▼ 0.1630.95above the sector's middle half▲ 30.7024.42above the sector's middle half▼ 6.530.67below the sector's middle half▼ 23.741.07within the sector's middle half▲ 0.402.03within the sector's middle half▲ 0.952.57within the sector's middle half▲ 0.54
Return on assets (ROA)-36.4%--116.6%▼ 80.2pp-7.5%below the sector's middle half▲ 109.1pp-14.5%below the sector's middle half▼ 7.0pp4.7%within the sector's middle half▲ 19.2pp26.4%above the sector's middle half▲ 21.7pp32.8%above the sector's middle half▲ 6.4pp-2.9%within the sector's middle half▼ 35.7pp
Staff (FTE)15.8-12.4▼ 21.5%3.6within the sector's middle half▼ 71.0%10.1within the sector's middle half14.2above the sector's middle half▲ 40.6%15.7above the sector's middle half▲ 10.6%13.3within the sector's middle half▼ 15.3%
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). 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 €11,455, after a profit of €453,554 in 2024. It is the lowest result since 2021.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€116,735 ▼ 42.6%
Current assets
€992,855 ▼ 9.5%
Equity and liabilities €1.1m
Equity
€717,272 ▼ 4.3%
Provisions
€5,705 ▼ 42.5%
Debt
€386,613 ▼ 28.6%
Debt's share of the balance-sheet total falls from 41.6% to 34.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€84,607▼
2024 · €549,549
Cash flow
€63,887▼
2024 · €522,575
Debt to equity
0.54▼
2024 · 0.72
ROE
-4.5%▼
2024 · 56.9%
Interest coverage
3.57▼
2024 · 22.57
Debt ≤ 1 year
€386,613▼
2024 · €541,163
Income taxes
€2,807▼
2024 · €3,366
Customer credit
58 days▼
2024 · 76 days
Supplier credit
59 days▲
2024 · 58 days
Staff costs
€1.2m▼
2024 · €1.2m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 15 | 15 | 16 | 12 |
| full-time | 14 | 14 | 15 | 10 |
| part-time | 1 | 1 | 1 | 2 |
| in full-time equivalents | 14.8 | 14.9 | 15.9 | 11.7 |
| Average over the year, in full-time equivalents | 10.1 | 14.2 | 15.7 | 13.3 |
| On a permanent contract | 15 | 15 | 16 | 12 |
| Joined | 15 | 3 | 2 | 0 |
| Left | 0 | 3 | 1 | 4 |
| Training hours | 447 | 641 | 382 | 71 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €41,670 | €14,814 | €9,697 | €11,945 |
| Intangible fixed assets | - | €400,000 | - | - | - |
| Depreciation and write-downs of the year | €5,522 | €68,789 | €97,651 | €95,995 | €96,063 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €1.1m | €1.4m | €0.3m | €0.03m | €1.6m | €2.4m | €3.3m | €2.7m | ▼ 17.8% |
| Non-recurring operating income76A | - | - | - | - | - | - | - | €482 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €0.04m | €0.8m | €1.1m | €1.6m | €1.5m | ▼ 7.0% |
| Remuneration, social security and pensions62 | - | - | - | - | €0.7m | €1.0m | €1.2m | €1.2m | ▼ 5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.02m | €0.02m | €0.01m | €0.006m | €0.07m | €0.1m | €0.1m | €0.1m | ▲ 0.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | - | €0.006m | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | - | €0.004m | - | -€0.004m | - |
| Other operating charges640/8 | - | - | - | €0.002m | €0.006m | €0.005m | €0.008m | €0.005m | ▼ 38.0% |
| Non-recurring operating charges66A | - | - | - | €0.002m | - | €48 | - | €329 | - |
| Gross operating margin9900 | €0.5m | €0.2m | -€0.05m | -€0.003m | €0.9m | €1.4m | €1.8m | €1.3m | ▼ 30.1% |
| Operating profit (loss)9901 | -€0.1m | -€0.4m | -€0.1m | -€0.01m | €0.06m | €0.2m | €0.5m | -€0.01m | - |
| Financial income75/76B | - | - | - | €0.003m | - | €0 | €0.001m | €0.006m | ▲ 683% |
| Recurring financial income75 | €284 | €3 | €5 | €0.003m | - | €0 | €0.001m | €0.006m | ▲ 683% |
| Financial charges65/66B | - | - | - | €150 | €0.01m | €0.02m | €0.02m | €0.02m | ▼ 2.6% |
| Recurring financial charges65 | €0.03m | €0.04m | €0.05m | €150 | €0.01m | €0.02m | €0.02m | €0.02m | ▼ 2.6% |
| Profit (loss) for the period before taxes9903 | -€0.2m | -€0.4m | -€0.2m | -€0.009m | €0.05m | €0.2m | €0.4m | -€0.03m | - |
| Income taxes67/77 | €0.001m | €0.001m | €345 | - | €0.002m | €0.003m | €0.003m | €0.003m | ▼ 16.6% |
| Profit (loss) for the period9904 | -€0.2m | -€0.4m | -€0.2m | -€0.009m | €0.04m | €0.2m | €0.4m | -€0.03m | - |
| Profit (loss) for the period to be appropriated9905 | -€0.2m | -€0.4m | -€0.2m | -€0.009m | €0.04m | €0.2m | €0.4m | -€0.03m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.5m | €0.4m | €2.6m | €0.06m | €0.9m | €0.8m | €1.3m | €1.1m | ▼ 14.7% |
| Fixed assets21/28 | €0.04m | €0.03m | €0.01m | - | €0.4m | €0.3m | €0.2m | €0.1m | ▼ 42.6% |
| Intangible fixed assets21 | - | - | - | - | €0.3m | €0.3m | €0.2m | €0.1m | ▼ 44.4% |
| Tangible fixed assets22/27 | €0.04m | €0.03m | €0.01m | - | €0.03m | €0.03m | €0.02m | €0.02m | ▼ 28.1% |
| Plant, machinery and equipment23 | - | - | - | - | €0.03m | €0.03m | €0.02m | €0.02m | ▼ 28.1% |
| Financial fixed assets28 | €0.001m | - | - | - | - | - | - | - | - |
| Current assets29/58 | €0.4m | €0.3m | €2.6m | €0.06m | €0.6m | €0.5m | €1.1m | €1.0m | ▼ 9.5% |
| Stocks and contracts in progress3 | €0.1m | €0.02m | - | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €0.2m | €0.3m | €2.6m | €0.05m | €0.5m | €0.5m | €1.1m | €1.0m | ▼ 9.7% |
| Trade receivables40 | - | - | - | €0.02m | €0.5m | €0.5m | €0.7m | €0.4m | ▼ 37.7% |
| Other amounts receivable41 | - | - | - | €0.03m | €49 | €0.04m | €0.4m | €0.5m | ▲ 41.2% |
| Cash at bank and in hand54/58 | €0.1m | €0.01m | €0.009m | €0.01m | €0.008m | €0.02m | €0.007m | €0.009m | ▲ 38.9% |
| Deferred charges and accrued income490/1 | - | - | - | €160 | €0.005m | €0.009m | €0.02m | €0.01m | ▼ 17.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.5m | €0.4m | €2.6m | €0.06m | €0.9m | €0.8m | €1.3m | €1.1m | ▼ 14.7% |
| Equity10/15 | -€0.6m | -€1.0m | €2.5m | €0.06m | €0.1m | €0.3m | €0.7m | €0.7m | ▼ 4.3% |
| Contributions10/11 | €0.06m | €0.06m | €2.7m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.006m | €0.006m | €0.006m | €0.006m | €0.04m | €0.3m | €0.7m | €0.7m | ▼ 4.7% |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Distributable reserves133 | - | - | - | - | €0.03m | €0.3m | €0.7m | €0.6m | ▼ 4.7% |
| Profit (loss) carried forward14 | -€0.6m | -€1.1m | -€0.2m | -€0.009m | €0.001m | €0.001m | €7 | €32 | ▲ 330% |
| Provisions and deferred taxes16 | - | - | - | - | - | €0.004m | €0.01m | €0.006m | ▼ 42.5% |
| Provisions for liabilities and charges160/5 | - | - | - | - | - | €0.004m | €0.01m | €0.006m | ▼ 42.5% |
| Pensions and similar obligations160 | - | - | - | - | - | €0.004m | €0.01m | €0.006m | ▼ 42.5% |
| Amounts payable17/49 | €1.0m | €1.4m | €0.1m | €0.003m | €0.8m | €0.5m | €0.5m | €0.4m | ▼ 28.6% |
| Amounts payable within one year42/48 | €1.0m | €1.4m | €0.08m | €0.003m | €0.8m | €0.5m | €0.5m | €0.4m | ▼ 28.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | €0.2m | €0.1m | - | - |
| Trade debts44 | €0.2m | €0.08m | €0.08m | €0.002m | €0.4m | €0.2m | €0.3m | €0.2m | ▼ 5.8% |
| Suppliers440/4 | - | - | - | €0.002m | €0.4m | €0.2m | €0.3m | €0.2m | ▼ 5.8% |
| Taxes, remuneration and social security45 | - | - | - | €345 | €0.1m | €0.1m | €0.2m | €0.1m | ▼ 21.8% |
| Taxes450/3 | - | - | - | €345 | €0.03m | €0.03m | €0.04m | €0.03m | ▼ 38.5% |
| Remuneration and social security454/9 | - | - | - | - | €0.08m | €0.1m | €0.1m | €0.1m | ▼ 16.6% |
| Other amounts payable47/48 | - | - | - | - | €0.3m | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€169,345 | -€438,863 | -€194,397 | -€8,941 | €43,464 | €220,145 | €426,580 | -€32,175 | - |
| + Depreciation and write-downs630 | €19,365 | €21,017 | €13,984 | €5,522 | €68,789 | €97,651 | €95,995 | €96,063 | ▲ 0.1% |
| Operating cash flow (approximation) | -€149,980 | -€417,846 | -€180,413 | -€3,419 | €112,253 | €317,796 | €522,575 | €63,887 | ▼ 87.8% |
| Investment in fixed assets (approximation) | - | -€18,590 | €9,869 | - | - | -€14,331 | -€9,697 | -€9,535 | ▲ 1.7% |
| Change in cash | - | -€87,294 | -€1,556 | €592 | -€2,327 | €9,239 | -€10,245 | €2,597 | - |
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, 2,686 companies had the same profile as togaether has now. Two years later, 93.7% were still going and 0.6% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a small loss
93.7%
was still going
5.4%
stopped otherwise
0.6%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of togaether 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 2,686 companies, not a prediction for togaether. 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 13 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 27-07-2026 | 2026-00344430 | |
| 31-12-2024 | abbreviated format | 22-08-2025 | 2025-00400583 | |
| 31-12-2023 | abbreviated format | 11-07-2024 | 2024-00260444 | |
| 31-12-2022 | abbreviated format | 01-08-2023 | 2023-00302975 | |
| 31-12-2021 | abbreviated format | 01-08-2022 | 2022-20262311 | |
| 31-12-2020 | abbreviated format | 19-08-2021 | 2021-50600047 | |
| 31-12-2019 | abbreviated format | 14-07-2020 | 2020-30000240 | |
| 31-12-2018 | abbreviated format | 24-06-2019 | 2019-22600159 | |
| 31-12-2017 | abbreviated format | 23-07-2018 | 2018-37200015 | |
| 31-12-2016 | full format | 03-07-2017 | 2017-27600068 |