TRADUCOM
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 29-12-2025 PDF all 10 filings
Turnover
≈ €1.2m
Estimated: probably between €670,000 and €1.8m
Total assets
€324,436▲ 28.0%
2024 · €253,372
Net result
€215,921▲ 70.1%
2024 · €126,961
Working capital
-€6,160▲ 28.3%
2024 · -€8,597
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€290,460
▲ 68.0%
2025
20192025
Net result
€215,921
▲ 70.1%
2025
highest quarter of the sector
20192025
Equity
€5,167
=
2025
middle half of the sector
20192025
Total assets
€324,436
▲ 28.0%
2025
middle half of the sector
20192025
Debt
€319,269
▲ 28.6%
2025
20192025
Working capital
-€6,160
▲ 28.3%
2025
middle half of the sector
20192025
Solvency
1.6%
▼ 0.4pp
2025
lowest quarter of the sector
20192025
Current ratio
0.98
▲ 0.02
2025
middle half of the sector
20192025
Return on assets (ROA)
66.6%
▲ 16.4pp
2025
highest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€160,110-€123,594▼ 22.8%€105,841▼ 14.4%€164,560▲ 55.5%€101,854▼ 38.1%€172,853▲ 69.7%€290,460▲ 68.0%
Net result€108,362-€84,015above the sector's middle half▼ 22.5%€75,497above the sector's middle half▼ 10.1%€122,466above the sector's middle half▲ 62.2%€74,904above the sector's middle half▼ 38.8%€126,961above the sector's middle half▲ 69.5%€215,921above the sector's middle half▲ 70.1%
Equity€242,203-€324,618above the sector's middle half▲ 34.0%€398,515above the sector's middle half▲ 22.8%€519,381above the sector's middle half▲ 30.3%€519,381above the sector's middle half=€5,167within the sector's middle half▼ 99.0%€5,167within the sector's middle half=
Total assets€329,511-€418,763above the sector's middle half▲ 27.1%€577,385above the sector's middle half▲ 37.9%€604,386above the sector's middle half▲ 4.7%€656,647above the sector's middle half▲ 8.6%€253,372within the sector's middle half▼ 61.4%€324,436within the sector's middle half▲ 28.0%
Debt€87,308-€94,145▲ 7.8%€178,870▲ 90.0%€85,005▼ 52.5%€137,266▲ 61.5%€248,205▲ 80.8%€319,269▲ 28.6%
Working capital€239,921-€319,815above the sector's middle half▲ 33.3%€400,548above the sector's middle half▲ 25.2%€519,433above the sector's middle half▲ 29.7%€502,138above the sector's middle half▼ 3.3%-€8,597within the sector's middle half-€6,160within the sector's middle half▲ 28.3%
Solvency73.5%-77.5%above the sector's middle half▲ 4.0pp69.0%above the sector's middle half▼ 8.5pp85.9%above the sector's middle half▲ 16.9pp79.1%above the sector's middle half▼ 6.8pp2.0%below the sector's middle half▼ 77.1pp1.6%below the sector's middle half▼ 0.4pp
Current ratio3.85-4.53above the sector's middle half▲ 0.683.32above the sector's middle half▼ 1.217.11above the sector's middle half▲ 3.804.72above the sector's middle half▼ 2.400.97within the sector's middle half▼ 3.750.98within the sector's middle half▲ 0.02
Return on assets (ROA)32.9%-20.1%above the sector's middle half▼ 12.8pp13.1%within the sector's middle half▼ 7.0pp20.3%above the sector's middle half▲ 7.2pp11.4%within the sector's middle half▼ 8.9pp50.1%above the sector's middle half▲ 38.7pp66.6%above the sector's middle half▲ 16.4pp
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). 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 68% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
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 €324,436
Fixed assets
€11,396 ▼ 26.1%
Current assets
€313,040 ▲ 31.6%
Equity and liabilities €324,436
Equity
€5,167 =
Debt
€319,269 ▲ 28.6%
Debt's share of the balance-sheet total rises from 98.0% to 98.4%. Debt is higher.
Key figures and ratios
EBITDA
€294,478▲
2024 · €176,871
Cash flow
€219,939▲
2024 · €130,979
Quick ratio
0.88▲
2024 · 0.86
Debt to equity
61.79▲
2024 · 48.04
Interest coverage
over 100▲
2024 · 93.22
Debt ≤ 1 year
€319,200▲
2024 · €246,554
Income taxes
€73,991▲
2024 · €44,037
A ratio outside any meaningful range has been withheld (balance sheet total €324,436, equity €5,167).
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | €20,091 | - | - |
| Depreciation and write-downs of the year | €3,917 | €659 | €4,018 | €4,018 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €6,250 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,565 | €8,815 | €4,315 | €3,917 | €659 | €4,018 | €4,018 | = |
| Other operating charges640/8 | - | - | - | €791 | €1,403 | €1,051 | €1,092 | ▲ 3.9% |
| Non-recurring operating charges66A | - | - | - | - | €1,210 | €0 | - | - |
| Gross operating margin9900 | €169,328 | €133,469 | €111,020 | €169,268 | €105,125 | €177,922 | €295,570 | ▲ 66.1% |
| Operating profit (loss)9901 | €160,110 | €123,594 | €105,841 | €164,560 | €101,854 | €172,853 | €290,460 | ▲ 68.0% |
| Financial income75/76B | - | - | - | €401 | €82 | €42 | €13 | ▼ 69.2% |
| Recurring financial income75 | €13 | €0 | €1,540 | €401 | €82 | €42 | €13 | ▼ 69.2% |
| Financial charges65/66B | - | - | - | €609 | €2,147 | €1,897 | €560 | ▼ 70.5% |
| Recurring financial charges65 | €3,728 | €3,704 | €3,377 | €609 | €2,147 | €1,897 | €560 | ▼ 70.5% |
| Profit (loss) for the period before taxes9903 | €156,395 | €119,889 | €104,004 | €164,353 | €99,789 | €170,998 | €289,912 | ▲ 69.5% |
| Income taxes67/77 | €48,034 | €35,874 | €28,507 | €41,887 | €24,885 | €44,037 | €73,991 | ▲ 68.0% |
| Profit (loss) for the period9904 | €108,362 | €84,015 | €75,497 | €122,466 | €74,904 | €126,961 | €215,921 | ▲ 70.1% |
| Profit (loss) for the period to be appropriated9905 | €108,362 | €84,015 | €75,497 | €122,466 | €74,904 | €126,961 | €215,921 | ▲ 70.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €329,511 | €418,763 | €577,385 | €604,386 | €656,647 | €253,372 | €324,436 | ▲ 28.0% |
| Fixed assets21/28 | €5,297 | €8,232 | €3,917 | €0 | €19,432 | €15,414 | €11,396 | ▼ 26.1% |
| Intangible fixed assets21 | €4,500 | €0 | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €797 | €8,232 | €3,917 | €0 | €19,432 | €15,414 | €11,396 | ▼ 26.1% |
| Furniture and vehicles24 | - | - | - | €0 | €19,432 | €15,414 | €11,396 | ▼ 26.1% |
| Current assets29/58 | €324,215 | €410,532 | €573,468 | €604,386 | €637,215 | €237,958 | €313,040 | ▲ 31.6% |
| Stocks and contracts in progress3 | €59,636 | €48,339 | €46,193 | €21,466 | €22,327 | €24,856 | €30,553 | ▲ 22.9% |
| Stocks30/36 | - | - | - | €21,466 | €22,327 | €24,856 | €30,553 | ▲ 22.9% |
| Amounts receivable within one year40/41 | €231,825 | €295,966 | €109,389 | €232,148 | €55,180 | €120,048 | €120,046 | = |
| Trade receivables40 | - | - | - | €202,148 | €50,053 | €93,048 | €120,037 | ▲ 29.0% |
| Other amounts receivable41 | - | - | - | €30,000 | €5,127 | €27,000 | €9 | ▼ 100.0% |
| Cash at bank and in hand54/58 | €29,207 | €66,091 | €382,587 | €350,455 | €559,556 | €92,520 | €161,894 | ▲ 75.0% |
| Deferred charges and accrued income490/1 | - | - | - | €317 | €151 | €532 | €547 | ▲ 2.8% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €329,511 | €418,763 | €577,385 | €604,386 | €656,647 | €253,372 | €324,436 | ▲ 28.0% |
| Equity10/15 | €242,203 | €324,618 | €398,515 | €519,381 | €519,381 | €5,167 | €5,167 | = |
| Contributions10/11 | €18,550 | €0 | - | €18,550 | €18,550 | €5,000 | €5,000 | = |
| Reserves13 | €223,653 | €306,068 | €379,965 | €500,831 | €500,831 | €167 | €167 | = |
| Non-distributable reserves130/1 | - | - | - | €1,944 | €1,944 | €0 | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,944 | €1,944 | €0 | - | - |
| Tax-exempt reserves132 | - | - | - | €167 | €167 | €167 | €167 | = |
| Distributable reserves133 | - | - | - | €498,720 | €498,720 | €0 | - | - |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €87,308 | €94,145 | €178,870 | €85,005 | €137,266 | €248,205 | €319,269 | ▲ 28.6% |
| Amounts payable within one year42/48 | €84,294 | €90,716 | €172,920 | €84,952 | €135,077 | €246,554 | €319,200 | ▲ 29.5% |
| Trade debts44 | €18,058 | €12,278 | €64,601 | €36,984 | €23,819 | €24,142 | €23,884 | ▼ 1.1% |
| Suppliers440/4 | - | - | - | €36,984 | €23,819 | €24,142 | €23,884 | ▼ 1.1% |
| Taxes, remuneration and social security45 | - | - | - | €13,615 | €4,637 | €20,622 | €11,614 | ▼ 43.7% |
| Taxes450/3 | - | - | - | €13,615 | €4,637 | €20,622 | €11,614 | ▼ 43.7% |
| Other amounts payable47/48 | - | - | - | €34,353 | €106,620 | €201,791 | €283,702 | ▲ 40.6% |
| Accrued charges and deferred income492/3 | - | - | - | €52 | €2,190 | €1,650 | €69 | ▼ 95.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €108,362 | €84,015 | €75,497 | €122,466 | €74,904 | €126,961 | €215,921 | ▲ 70.1% |
| + Depreciation and write-downs630 | €8,565 | €8,815 | €4,315 | €3,917 | €659 | €4,018 | €4,018 | = |
| Operating cash flow (approximation) | €116,927 | €92,830 | €79,812 | €126,383 | €75,562 | €130,979 | €219,939 | ▲ 67.9% |
| Investment in fixed assets (approximation) | - | -€11,750 | €0 | €0 | -€20,091 | €0 | €0 | - |
| Change in cash | - | €36,885 | €316,496 | -€32,133 | €209,101 | -€467,036 | €69,374 | - |
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, 1,325 companies had the same profile as TRADUCOM has now. Two years later, 95.2% were still going and 1.4% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
95.2%
was still going
3.2%
stopped otherwise
1.4%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of TRADUCOM 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 1,325 companies, not a prediction for TRADUCOM. 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.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 29-12-2025 | 2025-00591173 | |
| 30-06-2024 | micro format | 31-01-2025 | 2025-00017885 | |
| 30-06-2023 | micro format | 21-12-2023 | 2023-00533456 | |
| 30-06-2022 | micro format | 31-01-2023 | 2023-00011599 | |
| 30-06-2021 | micro format | 31-01-2022 | 2022-02800211 | |
| 30-06-2020 | micro format | 29-01-2021 | 2021-02400485 | |
| 30-06-2019 | micro format | 31-01-2020 | 2020-03100135 | |
| 30-06-2018 | micro format | 31-01-2019 | 2019-02800577 | |
| 30-06-2017 | micro format | 30-01-2018 | 2018-02600558 | |
| 30-06-2016 | abbreviated format | 26-01-2017 | 2017-01900203 |