TRACIT
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 24-07-2026 at the NBB all 19 filings
Turnover
≈ €99,000
Estimated: probably between €79,000 and €130,000
Total assets
€342,271▼ 7.7%
2024 · €370,979
Net result
-€9,804
2024 · €32,666
Working capital
€75,526▼ 7.5%
2024 · €81,670
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€3,233
▼ 91.9%
2025
20182025
Net result
-€9,804
2025
lowest quarter of the sector
20182025
Equity
€196,874
▼ 4.7%
2025
highest quarter of the sector
20182025
Total assets
€342,271
▼ 7.7%
2025
highest quarter of the sector
20182025
Debt
€145,396
▼ 11.5%
2025
20182025
Working capital
€75,526
▼ 7.5%
2025
middle half of the sector
20182025
Solvency
57.5%
▲ 1.8pp
2025
middle half of the sector
20182025
Current ratio
2.65
▼ 0.26
2025
middle half of the sector
20182025
Return on assets (ROA)
-2.9%
▼ 11.7pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€33,625-€7,378▼ 78.1%€14,447▲ 95.8%€73,371▲ 408%€20,153▼ 72.5%€41,115▲ 104%€39,976▼ 2.8%€3,233▼ 91.9%
Net result€31,693-€4,356▼ 86.3%€5,503within the sector's middle half▲ 26.3%€60,112above the sector's middle half▲ 992%€1,743below the sector's middle half▼ 97.1%€31,327within the sector's middle half▲ 18×€32,666within the sector's middle half▲ 4.3%-€9,804below the sector's middle half
Equity€70,971-€75,327▲ 6.1%€80,830within the sector's middle half▲ 7.3%€140,942within the sector's middle half▲ 74.4%€142,685within the sector's middle half▲ 1.2%€174,012above the sector's middle half▲ 22.0%€206,678above the sector's middle half▲ 18.8%€196,874above the sector's middle half▼ 4.7%
Total assets€87,375-€94,275▲ 7.9%€93,220within the sector's middle half▼ 1.1%€317,410above the sector's middle half▲ 240%€290,574above the sector's middle half▼ 8.5%€340,401above the sector's middle half▲ 17.1%€370,979above the sector's middle half▲ 9.0%€342,271above the sector's middle half▼ 7.7%
Debt€16,404-€18,948▲ 15.5%€12,391▼ 34.6%€176,469▲ 14×€147,889▼ 16.2%€166,389▲ 12.5%€164,301▼ 1.3%€145,396▼ 11.5%
Working capital€73,273-€77,773▲ 6.1%€80,330within the sector's middle half▲ 3.3%€80,417within the sector's middle half▲ 0.1%€71,011within the sector's middle half▼ 11.7%€25,728within the sector's middle half▼ 63.8%€81,670within the sector's middle half▲ 217%€75,526within the sector's middle half▼ 7.5%
Solvency81.2%-79.9%▼ 1.3pp86.7%above the sector's middle half▲ 6.8pp44.4%within the sector's middle half▼ 42.3pp49.1%within the sector's middle half▲ 4.7pp51.1%within the sector's middle half▲ 2.0pp55.7%within the sector's middle half▲ 4.6pp57.5%within the sector's middle half▲ 1.8pp
Current ratio6.47-5.88▼ 0.597.48above the sector's middle half▲ 1.613.28within the sector's middle half▼ 4.203.65within the sector's middle half▲ 0.361.45within the sector's middle half▼ 2.192.91within the sector's middle half▲ 1.452.65within the sector's middle half▼ 0.26
Return on assets (ROA)36.3%-4.6%▼ 31.7pp5.9%within the sector's middle half▲ 1.3pp18.9%within the sector's middle half▲ 13.0pp0.6%below the sector's middle half▼ 18.3pp9.2%within the sector's middle half▲ 8.6pp8.8%within the sector's middle half▼ 0.4pp-2.9%below the sector's middle half▼ 11.7pp
Staff (FTE)0.1-0.3▲ 200%0.3below the sector's middle half=
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 92% lower than in 2024 and the lowest since 2021. 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 €342,271
Fixed assets
€220,917 ▼ 10.4%
Current assets
€121,353 ▼ 2.6%
Equity and liabilities €342,271
Equity
€196,874 ▼ 4.7%
Debt
€145,396 ▼ 11.5%
Debt's share of the balance-sheet total falls from 44.3% to 42.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€28,765▼
2024 · €64,332
Cash flow
€15,728▼
2024 · €57,022
Debt to equity
0.74▼
2024 · 0.79
ROE
-5.0%▼
2024 · 15.8%
Interest coverage
6.38▼
2024 · 15.91
Debt ≤ 1 year
€45,827▲
2024 · €42,860
Debt > 1 year
€99,569▼
2024 · €121,441
Income taxes
€8,529▲
2024 · €3,267
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 | €203,500 | - | €76,163 | €12,833 | - |
| Depreciation and write-downs of the year | €2,254 | €9,016 | €10,920 | €24,356 | €25,532 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,635 | €144 | €54 | €2,254 | €9,016 | €10,920 | €24,356 | €25,532 | ▲ 4.8% |
| Other operating charges640/8 | - | - | - | €1,291 | €780 | €655 | €685 | €120 | ▼ 82.5% |
| Gross operating margin9900 | €44,574 | €14,664 | €20,980 | €76,916 | €29,949 | €52,691 | €65,017 | €28,885 | ▼ 55.6% |
| Operating profit (loss)9901 | €33,625 | €7,378 | €14,447 | €73,371 | €20,153 | €41,115 | €39,976 | €3,233 | ▼ 91.9% |
| Recurring financial income75 | €0 | - | - | - | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €1,880 | €2,775 | €2,576 | €4,043 | €4,508 | ▲ 11.5% |
| Recurring financial charges65 | €920 | €963 | €955 | €1,880 | €2,775 | €2,576 | €4,043 | €4,508 | ▲ 11.5% |
| Profit (loss) for the period before taxes9903 | €32,705 | €6,415 | €13,492 | €71,491 | €17,378 | €38,540 | €35,933 | -€1,274 | - |
| Income taxes67/77 | €1,013 | €2,059 | €7,989 | €11,379 | €15,635 | €7,213 | €3,267 | €8,529 | ▲ 161% |
| Profit (loss) for the period9904 | €31,693 | €4,356 | €5,503 | €60,112 | €1,743 | €31,327 | €32,666 | -€9,804 | - |
| Profit (loss) for the period to be appropriated9905 | €31,693 | €4,356 | €5,503 | €60,112 | €1,743 | €31,327 | €32,666 | -€9,804 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €87,375 | €94,275 | €93,220 | €317,410 | €290,574 | €340,401 | €370,979 | €342,271 | ▼ 7.7% |
| Fixed assets21/28 | €697 | €554 | €500 | €201,746 | €192,730 | €257,972 | €246,449 | €220,917 | ▼ 10.4% |
| Tangible fixed assets22/27 | €197 | €54 | - | €201,246 | €192,230 | €257,472 | €245,949 | €220,417 | ▼ 10.4% |
| Land and buildings22 | - | - | - | €201,246 | €192,230 | €183,213 | €174,197 | €165,181 | ▼ 5.2% |
| Plant, machinery and equipment23 | - | - | - | - | - | - | €12,726 | €11,443 | ▼ 10.1% |
| Furniture and vehicles24 | - | - | - | - | - | €74,259 | €59,026 | €43,794 | ▼ 25.8% |
| Financial fixed assets28 | €500 | €500 | €500 | €500 | €500 | €500 | €500 | €500 | = |
| Current assets29/58 | €86,677 | €93,721 | €92,720 | €115,664 | €97,844 | €82,429 | €124,530 | €121,353 | ▼ 2.6% |
| Amounts receivable within one year40/41 | €16,348 | €15,367 | €16,200 | €20,392 | €42,807 | €16,604 | €57,651 | €45,901 | ▼ 20.4% |
| Trade receivables40 | - | - | - | €13,392 | €42,807 | €16,332 | €57,304 | €45,901 | ▼ 19.9% |
| Other amounts receivable41 | - | - | - | €7,000 | - | €272 | €347 | - | - |
| Cash at bank and in hand54/58 | €70,329 | €77,263 | €75,520 | €95,272 | €55,037 | €65,825 | €66,879 | €75,452 | ▲ 12.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €87,375 | €94,275 | €93,220 | €317,410 | €290,574 | €340,401 | €370,979 | €342,271 | ▼ 7.7% |
| Equity10/15 | €70,971 | €75,327 | €80,830 | €140,942 | €142,685 | €174,012 | €206,678 | €196,874 | ▼ 4.7% |
| Contributions10/11 | €37,000 | €37,000 | €37,000 | €37,000 | €37,000 | €37,000 | €37,000 | €37,000 | = |
| Reserves13 | €1,585 | €1,585 | €1,585 | €61,697 | €63,440 | €94,767 | €127,433 | €127,433 | = |
| Non-distributable reserves130/1 | - | - | - | €1,585 | €1,585 | €1,585 | €1,585 | €1,585 | = |
| Reserves not available under the articles1311 | - | - | - | €1,585 | €1,585 | €1,585 | €1,585 | €1,585 | = |
| Distributable reserves133 | - | - | - | €60,112 | €61,855 | €93,182 | €125,848 | €125,848 | = |
| Profit (loss) carried forward14 | €32,386 | €36,742 | €42,245 | €42,245 | €42,245 | €42,245 | €42,245 | €32,441 | ▼ 23.2% |
| Amounts payable17/49 | €16,404 | €18,948 | €12,391 | €176,469 | €147,889 | €166,389 | €164,301 | €145,396 | ▼ 11.5% |
| Amounts payable after more than one year17 | €3,000 | €3,000 | - | €141,222 | €121,056 | €109,688 | €121,441 | €99,569 | ▼ 18.0% |
| Financial debts170/4 | - | - | - | €141,222 | €121,056 | €109,688 | €121,441 | €99,569 | ▼ 18.0% |
| Amounts payable within one year42/48 | €13,404 | €15,948 | €12,391 | €35,247 | €26,833 | €56,701 | €42,860 | €45,827 | ▲ 6.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €10,969 | €11,166 | €11,367 | €21,250 | €21,872 | ▲ 2.9% |
| Trade debts44 | €5,146 | €8,421 | €1,512 | €7,902 | €2,031 | €29,518 | €7,834 | €12,900 | ▲ 64.7% |
| Suppliers440/4 | - | - | - | €7,902 | €2,031 | €29,518 | €7,834 | €12,900 | ▲ 64.7% |
| Taxes, remuneration and social security45 | - | - | - | €14,984 | €10,523 | €12,820 | €13,776 | €10,446 | ▼ 24.2% |
| Taxes450/3 | - | - | - | €14,984 | €10,523 | €3,133 | €13,776 | €10,446 | ▼ 24.2% |
| Remuneration and social security454/9 | - | - | - | - | - | €9,687 | - | - | - |
| Other amounts payable47/48 | - | - | - | €1,392 | €3,113 | €2,996 | - | €610 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €31,693 | €4,356 | €5,503 | €60,112 | €1,743 | €31,327 | €32,666 | -€9,804 | - |
| + Depreciation and write-downs630 | €7,635 | €144 | €54 | €2,254 | €9,016 | €10,920 | €24,356 | €25,532 | ▲ 4.8% |
| Operating cash flow (approximation) | €39,327 | €4,500 | €5,556 | €62,366 | €10,759 | €42,247 | €57,022 | €15,728 | ▼ 72.4% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€203,500 | €0 | -€76,163 | -€12,833 | €0 | - |
| Change in cash | - | €6,933 | -€1,742 | €19,752 | -€40,235 | €10,788 | €1,054 | €8,573 | ▲ 714% |
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 TRACIT 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 TRACIT 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 12,322 companies, not a prediction for TRACIT. 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 19 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 24-07-2026 | 2026-00344037 | |
| 31-12-2024 | micro format | 17-06-2025 | 2025-00154927 | |
| 31-12-2023 | micro format | 24-07-2024 | 2024-00290760 | |
| 31-12-2022 | micro format | 05-07-2023 | 2023-00222395 | |
| 31-12-2021 | micro format | 25-07-2022 | 2022-20233528 | |
| 31-12-2020 | micro format | 26-08-2021 | 2021-54800422 | |
| 31-12-2019 | micro format | 31-08-2020 | 2020-50300165 | |
| 31-12-2018 | micro format | 07-08-2019 | 2019-44500111 | |
| 31-12-2017 | micro format | 30-07-2018 | 2018-40600412 | |
| 31-12-2016 | abbreviated format | 31-07-2017 | 2017-39500093 |