Treviso
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 11-06-2026 PDF all 47 filings
Turnover
≈ €200,000
Estimated: probably between €130,000 and €340,000
Total assets
€50,648▲ 335%
2024 · €11,654
Net result
€40,821▲ 457%
2024 · €7,322
Working capital
€29,677
2024 · -€11,144
Multi-year overview
2019 to 2025, 8 financial yearsOperating result
€41,043
▲ 441%
2025
20192025
Net result
€40,821
▲ 457%
2025
highest quarter of the sector
20192025
Equity
€30,789
2025
middle half of the sector
20192025
Total assets
€50,648
▲ 335%
2025
lowest quarter of the sector
20192025
Debt
€19,858
▼ 8.4%
2025
20192025
Working capital
€29,677
2025
middle half of the sector
20192025
Solvency
60.8%
▲ 146.9pp
2025
highest quarter of the sector
20192025
Current ratio
2.49
▲ 2.01
2025
highest quarter of the sector
20192025
Return on assets (ROA)
80.6%
▲ 17.8pp
2025
highest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202320242025
Operating result€54,150-€45,335▼ 16.3%€28,056▼ 38.1%-€14,726-€5,668▲ 61.5%€7,592€41,043▲ 441%
Net result€53,834-€45,235▼ 16.0%€27,980above the sector's middle half▼ 38.1%-€14,913below the sector's middle half-€6,361within the sector's middle half▲ 57.3%€7,322within the sector's middle half€40,821above the sector's middle half▲ 457%
Equity-€69,296--€24,061▲ 65.3%€3,919within the sector's middle half-€10,994below the sector's middle half-€17,354below the sector's middle half▼ 57.9%-€17,354below the sector's middle half--€10,032within the sector's middle half▲ 42.2%€30,789within the sector's middle half
Total assets€93,393-€72,328▼ 22.6%€55,235below the sector's middle half▼ 23.6%€39,947below the sector's middle half▼ 27.7%€33,101below the sector's middle half▼ 17.1%€33,101below the sector's middle half-€11,654below the sector's middle half▼ 64.8%€50,648below the sector's middle half▲ 335%
Debt€162,689-€96,389▼ 40.8%€51,316▼ 46.8%€50,941▼ 0.7%€50,456▼ 1.0%€50,456-€21,686▼ 57.0%€19,858▼ 8.4%
Working capital-€67,305--€61,977▲ 7.9%-€24,650within the sector's middle half▲ 60.2%-€27,787within the sector's middle half▼ 12.7%-€35,791within the sector's middle half▼ 28.8%-€35,791within the sector's middle half--€11,144within the sector's middle half▲ 68.9%€29,677within the sector's middle half
Solvency-74.2%--33.3%▲ 40.9pp7.1%within the sector's middle half▲ 40.4pp-27.5%below the sector's middle half▼ 34.6pp-52.4%below the sector's middle half▼ 24.9pp-52.4%below the sector's middle half--86.1%below the sector's middle half▼ 33.7pp60.8%above the sector's middle half▲ 146.9pp
Current ratio0.22-0.11▼ 0.110.26within the sector's middle half▲ 0.150.16below the sector's middle half▼ 0.100.14below the sector's middle half▼ 0.020.14below the sector's middle half-0.49within the sector's middle half▲ 0.352.49above the sector's middle half▲ 2.01
Return on assets (ROA)57.6%-62.5%▲ 4.9pp50.7%above the sector's middle half▼ 11.9pp-37.3%below the sector's middle half▼ 88.0pp-19.2%below the sector's middle half▲ 18.1pp62.8%above the sector's middle half80.6%above the sector's middle half▲ 17.8pp
above
within
below
The sector band is the middle half of the companies in Accommodation (NACE 55). 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 5.4 times that of 2024 and the highest since 2020. It is the third rise in a row, after the fall in 2022.
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 €50,648
Fixed assets
€1,112 =
Current assets
€49,536 ▲ 370%
Equity and liabilities €50,648
Equity
€30,789
Debt
€19,858
Debt's share of the balance-sheet total is 39.2%.
Key figures and ratios
Quick ratio
2.46▲
2024 · 0.45
Debt to equity
0.64
ROE
132.6%
Debt ≤ 1 year
€19,858▼
2024 · €21,686
Staff costs
€20,075▲
2024 · €13,930
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 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €0 | - | - | - |
| Depreciation and write-downs of the year | €11,777 | €7,356 | - | €26,325 | - |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €1,000 | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €10,059 | €12,627 | - | €13,930 | €20,075 | ▲ 44.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16,601 | €13,569 | €12,734 | €11,777 | €7,356 | - | €26,325 | - | - |
| Other operating charges640/8 | - | - | - | €13,237 | €11,922 | - | €7,497 | €5,128 | ▼ 31.6% |
| Gross operating margin9900 | €80,820 | €68,155 | €50,743 | €20,346 | €26,237 | - | €55,344 | €66,246 | ▲ 19.7% |
| Operating profit (loss)9901 | €54,150 | €45,335 | €28,056 | -€14,726 | -€5,668 | - | €7,592 | €41,043 | ▲ 441% |
| Financial income75/76B | - | - | - | €1 | €200 | - | - | - | - |
| Recurring financial income75 | €3 | - | €17 | €1 | €200 | - | - | - | - |
| Financial charges65/66B | - | - | - | €188 | €893 | - | €270 | €221 | ▼ 18.0% |
| Recurring financial charges65 | €319 | €100 | €93 | €188 | €893 | - | €270 | €221 | ▼ 18.0% |
| Profit (loss) for the period before taxes9903 | €53,834 | €45,235 | €27,980 | -€14,913 | -€6,361 | - | €7,322 | €40,821 | ▲ 457% |
| Profit (loss) for the period9904 | €53,834 | €45,235 | €27,980 | -€14,913 | -€6,361 | - | €7,322 | €40,821 | ▲ 457% |
| Profit (loss) for the period to be appropriated9905 | €53,834 | €45,235 | €27,980 | -€14,913 | -€6,361 | - | €7,322 | €40,821 | ▲ 457% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €93,393 | €72,328 | €55,235 | €39,947 | €33,101 | €33,101 | €11,654 | €50,648 | ▲ 335% |
| Fixed assets21/28 | €74,745 | €64,603 | €46,570 | €34,793 | €27,437 | €27,437 | €1,112 | €1,112 | = |
| Tangible fixed assets22/27 | €65,443 | €55,301 | €45,458 | €33,681 | €26,325 | €26,325 | - | - | - |
| Land and buildings22 | - | - | - | €2,078 | €1,386 | - | - | - | - |
| Plant, machinery and equipment23 | - | - | - | - | - | €26,325 | - | - | - |
| Furniture and vehicles24 | - | - | - | €875 | €438 | - | - | - | - |
| Other tangible fixed assets26 | - | - | - | €30,727 | €24,502 | - | - | - | - |
| Financial fixed assets28 | €9,302 | €9,302 | €1,112 | €1,112 | €1,112 | €1,112 | €1,112 | €1,112 | = |
| Current assets29/58 | €18,647 | €7,725 | €8,666 | €5,154 | €5,665 | €5,665 | €10,542 | €49,536 | ▲ 370% |
| Stocks and contracts in progress3 | €1,237 | €637 | €1,137 | €337 | €741 | €741 | €741 | €741 | = |
| Stocks30/36 | - | - | - | €337 | €741 | €741 | €741 | €741 | = |
| Amounts receivable within one year40/41 | €12,611 | €750 | €199 | - | €1,967 | €1,967 | €6,417 | €45,633 | ▲ 611% |
| Trade receivables40 | - | - | - | - | €1,858 | €1,967 | €6,417 | €45,633 | ▲ 611% |
| Other amounts receivable41 | - | - | - | - | €109 | - | - | - | - |
| Cash at bank and in hand54/58 | €4,732 | €5,604 | €7,329 | €4,201 | €2,957 | €2,957 | €3,384 | €3,162 | ▼ 6.6% |
| Deferred charges and accrued income490/1 | - | - | - | €616 | €0 | - | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €93,393 | €72,328 | €55,235 | €39,947 | €33,101 | €33,101 | €11,654 | €50,648 | ▲ 335% |
| Equity10/15 | -€69,296 | -€24,061 | €3,919 | -€10,994 | -€17,354 | -€17,354 | -€10,032 | €30,789 | - |
| Contributions10/11 | €18,592 | €18,592 | - | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Capital10 | - | - | - | - | - | €18,592 | - | - | - |
| Issued capital100 | - | - | - | - | - | €18,592 | - | - | - |
| Contributions outside capital11 | - | - | - | - | - | - | €18,592 | €18,592 | = |
| Other1109/19 | - | - | - | - | - | - | €18,592 | €18,592 | = |
| Reserves13 | €1,500 | €1,500 | €1,500 | €1,500 | €1,500 | €1,500 | €1,500 | €1,500 | = |
| Non-distributable reserves130/1 | - | - | - | €1,500 | €1,500 | €1,500 | €1,500 | €1,500 | = |
| Legal reserve130 | - | - | - | - | - | €1,500 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,500 | €1,500 | - | €1,500 | €1,500 | = |
| Profit (loss) carried forward14 | -€89,388 | -€44,153 | -€16,173 | -€31,086 | -€37,446 | -€37,446 | -€30,124 | €10,697 | - |
| Amounts payable17/49 | €162,689 | €96,389 | €51,316 | €50,941 | €50,456 | €50,456 | €21,686 | €19,858 | ▼ 8.4% |
| Amounts payable after more than one year17 | €76,737 | €26,687 | €18,000 | €18,000 | €9,000 | €9,000 | - | - | - |
| Financial debts170/4 | - | - | - | €18,000 | €9,000 | €9,000 | - | - | - |
| Amounts payable within one year42/48 | €85,952 | €69,702 | €33,316 | €32,941 | €41,456 | €41,456 | €21,686 | €19,858 | ▼ 8.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €18,000 | €18,000 | €41,456 | €9,000 | - | - |
| Trade debts44 | €18,551 | €5,723 | €8,297 | €11,102 | €19,088 | - | €6,276 | €1,735 | ▼ 72.4% |
| Suppliers440/4 | - | - | - | €11,102 | €19,088 | - | €6,276 | €1,735 | ▼ 72.4% |
| Taxes, remuneration and social security45 | - | - | - | €3,839 | €2,921 | - | €6,411 | €18,123 | ▲ 183% |
| Taxes450/3 | - | - | - | €1,214 | €1,971 | - | €3,949 | €11,863 | ▲ 200% |
| Remuneration and social security454/9 | - | - | - | €2,624 | €950 | - | €2,462 | €6,260 | ▲ 154% |
| Other amounts payable47/48 | - | - | - | - | €1,447 | - | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €53,834 | €45,235 | €27,980 | -€14,913 | -€6,361 | - | €7,322 | €40,821 | ▲ 457% |
| + Depreciation and write-downs630 | €16,601 | €13,569 | €12,734 | €11,777 | €7,356 | - | €26,325 | - | - |
| Operating cash flow (approximation) | €70,434 | €58,805 | €40,715 | -€3,136 | €996 | - | €33,647 | €40,821 | ▲ 21.3% |
| Investment in fixed assets (approximation) | - | -€3,427 | €5,299 | €0 | €0 | - | €0 | €0 | - |
| Change in cash | - | €871 | €1,726 | -€3,129 | -€1,244 | - | €427 | -€222 | - |
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, 31,368 companies had the same profile as Treviso has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Treviso itself: 0.4% 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 31,368 companies, not a prediction for Treviso. 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 47 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 11-06-2026 | 2026-00153495 | |
| 31-12-2024 | micro format | 01-06-2026 | 2026-00135772 | |
| 31-12-2023 | micro format | 01-06-2026 | 2026-00135895 | |
| 30-06-2023 | micro format | 25-01-2024 | 2024-00010413 | |
| 30-06-2022 | micro format | 02-12-2022 | 2022-20533757 | |
| 30-06-2021 | micro format | 30-11-2021 | 2021-79200144 | |
| 30-06-2020 | micro format | 13-01-2021 | 2021-01100601 | |
| 30-06-2019 | micro format | 20-01-2020 | 2020-01700290 | |
| 30-06-2018 | micro format | 19-12-2018 | 2018-75200237 | |
| 30-06-2017 | micro format | 05-01-2018 | 2018-00500490 |