Trada
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 19-05-2026 PDF all 4 filings
Every figure per financial year
The operating result for 2025 is 39% higher than in 2024 and the highest since 2022. It is the third rise in a row.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Securities and guarantees
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Debts secured on the company's own assets | - | €2.3m | €2.3m | €2.3m |
| Mortgages, amount registered | €2.5m | €2.5m | €2.5m | €2.5m |
| Carrying value of the mortgaged assets | €1.6m | €2.3m | €5.7m | €6.2m |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €1.8m | €867,171 | €3.3m | €504,933 |
| Financial fixed assets | €1.3m | - | - | - |
| Depreciation and write-downs of the year | €186,040 | €12,311 | €146 | €106 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €186,040 | €12,311 | €146 | €106 | ▼ 27.6% |
| Other operating charges640/8 | €3,985 | €4,737 | €1,242 | €1,299 | ▲ 4.6% |
| Gross operating margin9900 | €37,046 | €247,268 | €377,316 | €522,160 | ▲ 38.4% |
| Operating profit (loss)9901 | -€152,979 | €230,220 | €375,927 | €520,755 | ▲ 38.5% |
| Financial income75/76B | - | €75,000 | €1 | - | - |
| Recurring financial income75 | - | €75,000 | €1 | - | - |
| Financial charges65/66B | €8,324 | €142,871 | €204,013 | €268,058 | ▲ 31.4% |
| Recurring financial charges65 | €8,324 | €142,871 | €204,013 | €268,058 | ▲ 31.4% |
| Profit (loss) for the period before taxes9903 | -€161,303 | €162,349 | €171,916 | €252,697 | ▲ 47.0% |
| Income taxes67/77 | - | €500 | €29 | - | - |
| Profit (loss) for the period9904 | -€161,303 | €161,849 | €171,887 | €252,697 | ▲ 47.0% |
| Profit (loss) for the period to be appropriated9905 | -€161,303 | €161,849 | €171,887 | €252,697 | ▲ 47.0% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €3.0m | €4.0m | €7.4m | €7.6m | ▲ 1.8% |
| Fixed assets21/28 | €2.9m | €3.7m | €7.0m | €7.5m | ▲ 7.2% |
| Tangible fixed assets22/27 | €1.6m | €2.4m | €5.7m | €6.2m | ▲ 8.8% |
| Land and buildings22 | €1.6m | €2.4m | €5.7m | €6.2m | ▲ 8.9% |
| Plant, machinery and equipment23 | €398 | €252 | €106 | - | - |
| Furniture and vehicles24 | - | €0.06m | €0.06m | €0.06m | = |
| Financial fixed assets28 | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Current assets29/58 | €0.1m | €0.2m | €0.4m | €0.05m | ▼ 89.2% |
| Amounts receivable within one year40/41 | €0.06m | €0.2m | €0.4m | - | - |
| Trade receivables40 | €0.06m | €0.1m | €0.2m | - | - |
| Other amounts receivable41 | €0.002m | €0.08m | €0.2m | - | - |
| Cash at bank and in hand54/58 | €0.04m | €0.03m | €0.02m | €0.05m | ▲ 173% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €3.0m | €4.0m | €7.4m | €7.6m | ▲ 1.8% |
| Equity10/15 | -€0.1m | €0.03m | €0.2m | €0.5m | ▲ 128% |
| Contributions10/11 | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Profit (loss) carried forward14 | -€0.2m | €0.001m | €0.2m | €0.4m | ▲ 147% |
| Provisions and deferred taxes16 | €0.8m | €0.8m | €0.8m | €0.8m | ▼ 0.2% |
| Provisions for liabilities and charges160/5 | €0.8m | €0.8m | €0.8m | €0.8m | ▼ 0.2% |
| Other liabilities and charges164/5 | €0.8m | €0.8m | €0.8m | €0.8m | ▼ 0.2% |
| Amounts payable17/49 | €2.4m | €3.1m | €6.4m | €6.3m | ▼ 1.8% |
| Amounts payable after more than one year17 | €2.1m | €2.0m | €4.8m | €5.3m | ▲ 10.3% |
| Financial debts170/4 | €2.1m | €2.0m | €4.8m | €5.3m | ▲ 10.3% |
| Amounts payable within one year42/48 | €0.2m | €1.1m | €1.6m | €1.0m | ▼ 38.5% |
| Current portion of amounts payable after more than one year42 | €0.2m | €0.2m | €0.3m | €0.3m | ▲ 23.5% |
| Trade debts44 | - | €0.7m | €0.5m | €0.006m | ▼ 98.9% |
| Suppliers440/4 | - | €0.7m | €0.5m | €0.006m | ▼ 98.9% |
| Taxes, remuneration and social security45 | €0.003m | €0.004m | €0.003m | €29 | ▼ 99.1% |
| Taxes450/3 | €0.003m | €0.004m | €0.003m | €29 | ▼ 99.1% |
| Other amounts payable47/48 | €0.05m | €0.2m | €0.8m | €0.6m | ▼ 18.9% |
| Accrued charges and deferred income492/3 | €0.02m | €0.03m | €0.03m | €0.04m | ▲ 42.8% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.2m | €0.2m | €0.2m | €0.3m | ▲ 47.0% |
| + Depreciation and write-downs630 | €0.2m | €0.01m | €146 | €106 | ▼ 27.6% |
| Operating cash flow (approximation) | €0.02m | €0.2m | €0.2m | €0.3m | ▲ 47.0% |
| Investment in fixed assets (approximation) | - | -€0.9m | -€3.3m | -€0.5m | ▲ 84.7% |
| Change in cash | - | -€0.01m | -€0.009m | €0.03m | - |
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, 628 companies had the same profile as Trada has now. Two years later, 97.6% were still going and 1.1% had gone bankrupt.
- Medium-sized
- solvency under 10%
- a profit under 5% of the balance sheet
- without age
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Trada 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 628 companies, not a prediction for Trada. 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.