TOMIC
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 15-06-2026 at the NBB all 14 filings
Turnover
≈ €370,000
Estimated: probably between €250,000 and €460,000
Total assets
€787,965▼ 12.2%
2024 · €897,375
Net result
€66,821▼ 24.0%
2024 · €87,970
Working capital
€294,486▼ 12.3%
2024 · €335,803
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€89,634
▼ 26.4%
2025
20182025
Net result
€66,821
▼ 24.0%
2025
highest quarter of the sector
20182025
Equity
€400,041
▼ 11.2%
2025
highest quarter of the sector
20182025
Total assets
€787,965
▼ 12.2%
2025
highest quarter of the sector
20182025
Debt
€387,924
▼ 13.2%
2025
20182025
Working capital
€294,486
▼ 12.3%
2025
highest quarter of the sector
20182025
Solvency
50.8%
▲ 0.6pp
2025
middle half of the sector
20182025
Current ratio
4.67
▲ 0.83
2025
highest quarter of the sector
20182025
Return on assets (ROA)
8.5%
▼ 1.3pp
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
Operating result€96,130-€105,162▲ 9.4%€61,516▼ 41.5%€32,301▼ 47.5%€61,474▲ 90.3%€141,554▲ 130%€121,760▼ 14.0%€89,634▼ 26.4%
Net result€73,506-€76,006▲ 3.4%€57,838above the sector's middle half▼ 23.9%€22,056within the sector's middle half▼ 61.9%€41,609above the sector's middle half▲ 88.7%€98,870above the sector's middle half▲ 138%€87,970above the sector's middle half▼ 11.0%€66,821above the sector's middle half▼ 24.0%
Equity€305,267-€301,273▼ 1.3%€339,111above the sector's middle half▲ 12.6%€340,367above the sector's middle half▲ 0.4%€361,176above the sector's middle half▲ 6.1%€439,213above the sector's middle half▲ 21.6%€450,318above the sector's middle half▲ 2.5%€400,041above the sector's middle half▼ 11.2%
Total assets€343,699-€383,603▲ 11.6%€385,987above the sector's middle half▲ 0.6%€806,587above the sector's middle half▲ 109%€844,858above the sector's middle half▲ 4.7%€886,445above the sector's middle half▲ 4.9%€897,375above the sector's middle half▲ 1.2%€787,965above the sector's middle half▼ 12.2%
Debt€38,432-€82,330▲ 114%€44,557▼ 45.9%€464,406▲ 942%€482,372▲ 3.9%€446,427▼ 7.5%€447,057▲ 0.1%€387,924▼ 13.2%
Working capital€291,343-€298,547▲ 2.5%€279,818above the sector's middle half▼ 6.3%€223,400above the sector's middle half▼ 20.2%€244,217above the sector's middle half▲ 9.3%€330,054above the sector's middle half▲ 35.1%€335,803above the sector's middle half▲ 1.7%€294,486above the sector's middle half▼ 12.3%
Solvency88.8%-78.5%▼ 10.3pp87.9%above the sector's middle half▲ 9.3pp42.2%within the sector's middle half▼ 45.7pp42.7%within the sector's middle half▲ 0.6pp49.5%within the sector's middle half▲ 6.8pp50.2%within the sector's middle half▲ 0.6pp50.8%within the sector's middle half▲ 0.6pp
Current ratio8.63-4.63▼ 4.017.28above the sector's middle half▲ 2.664.75above the sector's middle half▼ 2.533.38above the sector's middle half▼ 1.374.64above the sector's middle half▲ 1.263.84above the sector's middle half▼ 0.804.67above the sector's middle half▲ 0.83
Return on assets (ROA)21.4%-19.8%▼ 1.6pp15.0%within the sector's middle half▼ 4.8pp2.7%within the sector's middle half▼ 12.3pp4.9%within the sector's middle half▲ 2.2pp11.2%within the sector's middle half▲ 6.2pp9.8%within the sector's middle half▼ 1.4pp8.5%within the sector's middle half▼ 1.3pp
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 26% 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 €787,965
Fixed assets
€413,204 ▼ 6.8%
Current assets
€374,760 ▼ 17.5%
Equity and liabilities €787,965
Equity
€400,041 ▼ 11.2%
Debt
€387,924 ▼ 13.2%
Debt's share of the balance-sheet total falls from 49.8% to 49.2%. Equity and debt are lower.
Key figures and ratios
EBITDA
€121,954▼
2024 · €157,851
Cash flow
€99,141▼
2024 · €124,060
Quick ratio
2.96▲
2024 · 2.72
Debt to equity
0.97▼
2024 · 0.99
ROE
16.7%▼
2024 · 19.5%
Interest coverage
35.77▼
2024 · 43.87
Debt ≤ 1 year
€80,274▼
2024 · €118,205
Debt > 1 year
€307,298▼
2024 · €328,767
Income taxes
€25,589▼
2024 · €38,214
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Mortgages, amount registered | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 |
| Mortgage mandates | €370,000 | €370,000 | €370,000 | €370,000 | €370,000 |
| Carrying value of the mortgaged assets | €440,804 | €427,393 | €414,002 | €397,922 | €381,841 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €546,916 | €12,845 | €5,857 | €28,500 | €2,157 |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €84,948 | €38,318 | €38,165 | €36,091 | €32,319 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 to 2025 · 3 entries · €311 awarded · €311 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €123 | €123 |
| 2024 | 1 | €65 | €65 |
| 2023 | 1 | €123 | €123 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €8,264 | - | - | €108 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16,086 | €14,646 | €6,373 | €84,948 | €38,318 | €38,165 | €36,091 | €32,319 | ▼ 10.4% |
| Other operating charges640/8 | - | - | - | €2,458 | €3,148 | €7,927 | €3,747 | €3,618 | ▼ 3.4% |
| Non-recurring operating charges66A | - | - | - | €115 | - | - | €3,917 | €0 | ▼ 100% |
| Gross operating margin9900 | €113,388 | €120,967 | €71,479 | €119,822 | €102,940 | €187,646 | €165,514 | €125,571 | ▼ 24.1% |
| Operating profit (loss)9901 | €96,130 | €105,162 | €61,516 | €32,301 | €61,474 | €141,554 | €121,760 | €89,634 | ▼ 26.4% |
| Financial income75/76B | - | - | - | €2,136 | €3,042 | €5,309 | €7,217 | €6,185 | ▼ 14.3% |
| Recurring financial income75 | €2,365 | €1,941 | €1,279 | €2,136 | €3,042 | €5,309 | €7,217 | €6,185 | ▼ 14.3% |
| Financial charges65/66B | - | - | - | €4,207 | €4,063 | €3,956 | €3,598 | €3,410 | ▼ 5.2% |
| Recurring financial charges65 | €66 | - | - | €4,207 | €4,063 | €3,956 | €3,598 | €3,410 | ▼ 5.2% |
| Profit (loss) for the period before taxes9903 | €98,465 | €106,976 | €62,215 | €30,230 | €60,453 | €142,907 | €125,379 | €92,410 | ▼ 26.3% |
| Transfer from deferred taxes780 | - | - | - | €505 | €505 | €505 | €805 | €0 | ▼ 100% |
| Income taxes67/77 | €24,959 | €30,970 | €2,058 | €8,678 | €19,349 | €44,542 | €38,214 | €25,589 | ▼ 33.0% |
| Profit (loss) for the period9904 | €73,506 | €76,006 | €57,838 | €22,056 | €41,609 | €98,870 | €87,970 | €66,821 | ▼ 24.0% |
| Transfer from tax-exempt reserves789 | - | - | - | €2,019 | €2,019 | €2,019 | €3,220 | €0 | ▼ 100% |
| Profit (loss) for the period to be appropriated9905 | €73,506 | €76,006 | €48,563 | €24,075 | €43,628 | €100,888 | €91,189 | €66,821 | ▼ 26.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €343,699 | €383,603 | €385,987 | €806,587 | €844,858 | €886,445 | €897,375 | €787,965 | ▼ 12.2% |
| Fixed assets21/28 | €14,194 | €2,726 | €61,636 | €523,605 | €498,132 | €465,824 | €443,367 | €413,204 | ▼ 6.8% |
| Intangible fixed assets21 | - | - | €14,409 | €11,487 | €8,564 | €5,642 | €0 | - | - |
| Tangible fixed assets22/27 | €14,087 | €2,619 | €47,120 | €512,011 | €489,461 | €460,075 | €443,260 | €413,097 | ▼ 6.8% |
| Land and buildings22 | - | - | - | €440,804 | €427,393 | €414,002 | €397,922 | €381,841 | ▼ 4.0% |
| Plant, machinery and equipment23 | - | - | - | €8,876 | €15,945 | €14,963 | €12,888 | €11,960 | ▼ 7.2% |
| Furniture and vehicles24 | - | - | - | €62,331 | €46,123 | €31,110 | €32,450 | €19,296 | ▼ 40.5% |
| Financial fixed assets28 | €107 | €107 | €107 | €107 | €107 | €107 | €107 | €107 | = |
| Current assets29/58 | €329,505 | €380,877 | €324,350 | €282,983 | €346,726 | €420,621 | €454,009 | €374,760 | ▼ 17.5% |
| Amounts receivable after more than one year29 | - | - | - | €30,000 | €60,000 | €90,000 | €120,000 | €60,000 | ▼ 50.0% |
| Other amounts receivable291 | - | - | - | €30,000 | €60,000 | €90,000 | €120,000 | €60,000 | ▼ 50.0% |
| Stocks and contracts in progress3 | €94,636 | €103,082 | €98,851 | €84,946 | €107,213 | €128,778 | €132,210 | €137,017 | ▲ 3.6% |
| Stocks30/36 | - | - | - | €84,946 | €107,213 | €128,778 | €132,210 | €137,017 | ▲ 3.6% |
| Amounts receivable within one year40/41 | €65,799 | €79,067 | €55,637 | €41,651 | €35,813 | €82,942 | €45,498 | €35,746 | ▼ 21.4% |
| Trade receivables40 | - | - | - | €41,651 | €30,176 | €82,942 | €45,498 | €25,908 | ▼ 43.1% |
| Other amounts receivable41 | - | - | - | - | €5,637 | - | - | €9,837 | - |
| Current investments50/53 | - | - | - | - | - | - | - | €80,000 | - |
| Cash at bank and in hand54/58 | €167,414 | €197,194 | €168,339 | €123,895 | €139,737 | €112,741 | €138,321 | €52,068 | ▼ 62.4% |
| Deferred charges and accrued income490/1 | - | - | - | €2,491 | €3,963 | €6,159 | €17,980 | €9,929 | ▼ 44.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €343,699 | €383,603 | €385,987 | €806,587 | €844,858 | €886,445 | €897,375 | €787,965 | ▼ 12.2% |
| Equity10/15 | €305,267 | €301,273 | €339,111 | €340,367 | €361,176 | €439,213 | €450,318 | €400,041 | ▼ 11.2% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €101,860 | €157,866 | €195,704 | €197,760 | €219,369 | €298,239 | €310,203 | €260,758 | ▼ 15.9% |
| Tax-exempt reserves132 | - | - | - | €7,257 | €5,238 | €3,220 | €0 | - | - |
| Distributable reserves133 | - | - | - | €190,503 | €214,131 | €295,019 | €310,203 | €260,758 | ▼ 15.9% |
| Profit (loss) carried forward14 | €184,807 | €124,807 | €124,807 | €124,007 | €123,207 | €122,374 | €121,515 | €120,682 | ▼ 0.7% |
| Provisions and deferred taxes16 | - | - | €2,319 | €1,814 | €1,310 | €805 | €0 | - | - |
| Deferred taxes168 | - | - | - | €1,814 | €1,310 | €805 | €0 | - | - |
| Amounts payable17/49 | €38,432 | €82,330 | €44,557 | €464,406 | €482,372 | €446,427 | €447,057 | €387,924 | ▼ 13.2% |
| Amounts payable after more than one year17 | - | - | - | €404,617 | €379,572 | €354,289 | €328,767 | €307,298 | ▼ 6.5% |
| Financial debts170/4 | - | - | - | €404,617 | €379,572 | €354,289 | €328,767 | €307,298 | ▼ 6.5% |
| Amounts payable within one year42/48 | €38,161 | €82,330 | €44,533 | €59,583 | €102,509 | €90,567 | €118,205 | €80,274 | ▼ 32.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €24,811 | €25,046 | €25,283 | €25,522 | €21,469 | ▼ 15.9% |
| Trade debts44 | €12,260 | €18,855 | €15,380 | €5,907 | €13,282 | €18,273 | €7,537 | €7,921 | ▲ 5.1% |
| Suppliers440/4 | - | - | - | €5,907 | €13,282 | €18,273 | €7,537 | €7,921 | ▲ 5.1% |
| Advances received on contracts in progress46 | - | - | - | - | €35,613 | €1,156 | €0 | €2,683 | - |
| Taxes, remuneration and social security45 | - | - | - | €8,065 | €7,769 | €25,023 | €8,282 | €3,740 | ▼ 54.8% |
| Taxes450/3 | - | - | - | €8,065 | €7,769 | €25,023 | €7,895 | €3,740 | ▼ 52.6% |
| Remuneration and social security454/9 | - | - | - | - | - | - | €387 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | €20,800 | €20,800 | €20,833 | €76,865 | €44,461 | ▼ 42.2% |
| Accrued charges and deferred income492/3 | - | - | - | €206 | €292 | €1,571 | €85 | €352 | ▲ 315% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €73,506 | €76,006 | €57,838 | €22,056 | €41,609 | €98,870 | €87,970 | €66,821 | ▼ 24.0% |
| + Depreciation and write-downs630 | €16,086 | €14,646 | €6,373 | €84,948 | €38,318 | €38,165 | €36,091 | €32,319 | ▼ 10.4% |
| Operating cash flow (approximation) | €89,592 | €90,652 | €64,211 | €107,004 | €79,927 | €137,034 | €124,060 | €99,141 | ▼ 20.1% |
| Investment in fixed assets (approximation) | - | -€3,178 | -€65,284 | -€546,916 | -€12,845 | -€5,857 | -€13,633 | -€2,157 | ▲ 84.2% |
| Change in cash | - | €29,780 | -€28,855 | -€44,444 | €15,842 | -€26,996 | €25,580 | -€86,253 | - |
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, 17,811 companies had the same profile as TOMIC has now. Two years later, 96.5% were still going and 0.3% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
96.5%
was still going
3.1%
stopped otherwise
0.3%
went bankrupt
That fits the bankruptcy probability of TOMIC 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 17,811 companies, not a prediction for TOMIC. 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 14 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 15-06-2026 | 2026-00175419 | |
| 31-12-2024 | micro format | 26-06-2025 | 2025-00188000 | |
| 31-12-2023 | micro format | 03-07-2024 | 2024-00200072 | |
| 31-12-2022 | micro format | 06-06-2023 | 2023-00108049 | |
| 31-12-2021 | micro format | 02-08-2022 | 2022-20260943 | |
| 31-12-2020 | micro format | 14-07-2021 | 2021-35500306 | |
| 31-12-2019 | micro format | 18-06-2020 | 2020-18200146 | |
| 31-12-2018 | micro format | 04-06-2019 | 2019-15900263 | |
| 31-12-2017 | micro format | 28-06-2018 | 2018-25000072 | |
| 31-12-2016 | micro format | 12-06-2017 | 2017-16500551 |