TRIFIDE
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 12-02-2026 PDF all 25 filings
Turnover
≈ €43,000
Estimated: probably between €25,000 and €78,000
Total assets
€53,634▼ 6.0%
2024 · €57,049
Net result
€456▲ 235%
2024 · €136
Working capital
€19,295▼ 6.0%
2024 · €20,534
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€2,427
▲ 39.9%
2025
20192025
Net result
€456
▲ 235%
2025
middle half of the sector
20192025
Equity
€25,520
▲ 1.8%
2025
middle half of the sector
20192025
Total assets
€53,634
▼ 6.0%
2025
lowest quarter of the sector
20192025
Debt
€28,114
▼ 12.1%
2025
20192025
Working capital
€19,295
▼ 6.0%
2025
middle half of the sector
20192025
Solvency
47.6%
▲ 3.6pp
2025
middle half of the sector
20192025
Current ratio
2.49
▼ 0.22
2025
middle half of the sector
20192025
Return on assets (ROA)
0.9%
▲ 0.6pp
2025
middle half of the sector
20192025
Staff (FTE)
no figure
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€2,528-€2,295▼ 9.2%€1,418▼ 38.2%€962▼ 32.2%€1,655▲ 72.0%€1,735▲ 4.8%€2,427▲ 39.9%
Net result€332-€385within the sector's middle half▲ 16.0%€429within the sector's middle half▲ 11.4%€30within the sector's middle half▼ 93.0%€388within the sector's middle half▲ 13×€136within the sector's middle half▼ 64.9%€456within the sector's middle half▲ 235%
Equity€23,696-€24,081within the sector's middle half▲ 1.6%€24,510within the sector's middle half▲ 1.8%€24,540within the sector's middle half▲ 0.1%€24,928within the sector's middle half▲ 1.6%€25,064within the sector's middle half▲ 0.5%€25,520within the sector's middle half▲ 1.8%
Total assets€55,492-€54,955below the sector's middle half▼ 1.0%€44,578below the sector's middle half▼ 18.9%€48,206below the sector's middle half▲ 8.1%€64,544within the sector's middle half▲ 33.9%€57,049below the sector's middle half▼ 11.6%€53,634below the sector's middle half▼ 6.0%
Debt€31,796-€30,874▼ 2.9%€20,068▼ 35.0%€23,666▲ 17.9%€39,616▲ 67.4%€31,985▼ 19.3%€28,114▼ 12.1%
Working capital€32,779-€36,913within the sector's middle half▲ 12.6%€36,462within the sector's middle half▼ 1.2%€36,687within the sector's middle half▲ 0.6%€25,526within the sector's middle half▼ 30.4%€20,534within the sector's middle half▼ 19.6%€19,295within the sector's middle half▼ 6.0%
Solvency42.7%-43.8%within the sector's middle half▲ 1.1pp55.0%within the sector's middle half▲ 11.2pp50.9%within the sector's middle half▼ 4.1pp38.6%within the sector's middle half▼ 12.3pp43.9%within the sector's middle half▲ 5.3pp47.6%within the sector's middle half▲ 3.6pp
Current ratio2.73-3.55above the sector's middle half▲ 0.828.34above the sector's middle half▲ 4.795.28above the sector's middle half▼ 3.063.24above the sector's middle half▼ 2.042.71within the sector's middle half▼ 0.532.49within the sector's middle half▼ 0.22
Return on assets (ROA)0.6%-0.7%within the sector's middle half▲ 0.1pp1.0%within the sector's middle half▲ 0.3pp0.1%within the sector's middle half▼ 0.9pp0.6%within the sector's middle half▲ 0.5pp0.2%within the sector's middle half▼ 0.4pp0.9%within the sector's middle half▲ 0.6pp
Staff (FTE)0.8-0.8within the sector's middle half=0.6▼ 25.0%
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 40% higher than in 2024 and the highest since 2021. 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 €53,634
Fixed assets
€21,364 ▼ 12.8%
Current assets
€32,270 ▼ 0.8%
Equity and liabilities €53,634
Equity
€25,520 ▲ 1.8%
Debt
€28,114 ▼ 12.1%
Debt's share of the balance-sheet total falls from 56.1% to 52.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€5,566▲
2024 · €4,874
Cash flow
€3,595▲
2024 · €3,275
Quick ratio
2.38▼
2024 · 2.63
Debt to equity
1.10▼
2024 · 1.28
ROE
1.8%▲
2024 · 0.5%
Interest coverage
3.07▼
2024 · 3.36
Debt ≤ 1 year
€12,975▲
2024 · €12,012
Debt > 1 year
€15,139▼
2024 · €19,973
Income taxes
€159▲
2024 · €148
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Carrying value of the other pledged assets | - | - | - | €18,506 |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | €25,115 | - | - |
| Depreciation and write-downs of the year | €195 | €426 | €3,139 | €3,139 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,213 | €554 | €347 | €195 | €426 | €3,139 | €3,139 | = |
| Other operating charges640/8 | - | - | - | €266 | €603 | €529 | €824 | ▲ 55.8% |
| Gross operating margin9900 | €40,380 | €26,683 | €14,620 | €1,423 | €2,684 | €5,403 | €6,390 | ▲ 18.3% |
| Operating profit (loss)9901 | €2,528 | €2,295 | €1,418 | €962 | €1,655 | €1,735 | €2,427 | ▲ 39.9% |
| Financial charges65/66B | - | - | - | €812 | €1,135 | €1,451 | €1,812 | ▲ 24.9% |
| Recurring financial charges65 | €1,557 | €1,792 | €872 | €812 | €1,135 | €1,451 | €1,812 | ▲ 24.9% |
| Profit (loss) for the period before taxes9903 | €971 | €503 | €546 | €150 | €520 | €284 | €615 | ▲ 117% |
| Income taxes67/77 | €639 | €118 | €117 | €120 | €132 | €148 | €159 | ▲ 7.4% |
| Profit (loss) for the period9904 | €332 | €385 | €429 | €30 | €388 | €136 | €456 | ▲ 235% |
| Profit (loss) for the period to be appropriated9905 | €332 | €385 | €429 | €30 | €388 | €136 | €456 | ▲ 235% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €55,492 | €54,955 | €44,578 | €48,206 | €64,544 | €57,049 | €53,634 | ▼ 6.0% |
| Fixed assets21/28 | €3,767 | €3,545 | €3,148 | €2,953 | €27,642 | €24,503 | €21,364 | ▼ 12.8% |
| Intangible fixed assets21 | €2,857 | €2,857 | €2,857 | €2,857 | €2,857 | €2,857 | €2,857 | = |
| Tangible fixed assets22/27 | €860 | €638 | €291 | €96 | €24,785 | €21,646 | €18,507 | ▼ 14.5% |
| Furniture and vehicles24 | - | - | - | €96 | €24,785 | €21,646 | €18,507 | ▼ 14.5% |
| Financial fixed assets28 | €50 | €50 | - | - | - | - | - | - |
| Current assets29/58 | €51,725 | €51,410 | €41,430 | €45,253 | €36,902 | €32,546 | €32,270 | ▼ 0.8% |
| Stocks and contracts in progress3 | €600 | €745 | €630 | - | €650 | €980 | €1,330 | ▲ 35.7% |
| Contracts in progress37 | - | - | - | - | €650 | €980 | €1,330 | ▲ 35.7% |
| Amounts receivable within one year40/41 | €49,420 | €45,498 | €33,528 | €43,077 | €33,842 | €29,660 | €28,066 | ▼ 5.4% |
| Trade receivables40 | - | - | - | €40,600 | €31,001 | €29,660 | €27,955 | ▼ 5.7% |
| Other amounts receivable41 | - | - | - | €2,477 | €2,841 | - | €111 | - |
| Cash at bank and in hand54/58 | - | €3,375 | €5,630 | - | - | - | - | - |
| Deferred charges and accrued income490/1 | - | - | - | €2,176 | €2,410 | €1,906 | €2,874 | ▲ 50.8% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €55,492 | €54,955 | €44,578 | €48,206 | €64,544 | €57,049 | €53,634 | ▼ 6.0% |
| Equity10/15 | €23,696 | €24,081 | €24,510 | €24,540 | €24,928 | €25,064 | €25,520 | ▲ 1.8% |
| Contributions10/11 | €11,300 | €11,300 | €11,300 | €11,300 | €13,200 | €13,200 | €13,200 | = |
| Reserves13 | €1,900 | €1,900 | €1,900 | €1,900 | - | - | - | - |
| Non-distributable reserves130/1 | - | - | - | €1,900 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,900 | - | - | - | - |
| Profit (loss) carried forward14 | €10,496 | €10,881 | €11,310 | €11,340 | €11,728 | €11,864 | €12,320 | ▲ 3.8% |
| Amounts payable17/49 | €31,796 | €30,874 | €20,068 | €23,666 | €39,616 | €31,985 | €28,114 | ▼ 12.1% |
| Amounts payable after more than one year17 | €12,850 | €16,377 | €15,100 | €15,100 | €28,240 | €19,973 | €15,139 | ▼ 24.2% |
| Financial debts170/4 | - | - | - | €15,100 | €28,240 | €19,973 | €15,139 | ▼ 24.2% |
| Amounts payable within one year42/48 | €18,946 | €14,497 | €4,968 | €8,566 | €11,376 | €12,012 | €12,975 | ▲ 8.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €3,107 | €3,267 | €3,434 | ▲ 5.1% |
| Financial debts43 | - | - | - | €2,645 | €3,546 | €1,330 | €3,758 | ▲ 183% |
| Credit institutions430/8 | - | - | - | €2,645 | €3,546 | €1,330 | €3,758 | ▲ 183% |
| Trade debts44 | €5,360 | €2,920 | €1,317 | €748 | €1,478 | €570 | €1,117 | ▲ 96.0% |
| Suppliers440/4 | - | - | - | €748 | €1,478 | €570 | €1,117 | ▲ 96.0% |
| Taxes, remuneration and social security45 | - | - | - | €5,173 | €3,245 | €4,501 | €3,539 | ▼ 21.4% |
| Taxes450/3 | - | - | - | €5,173 | €3,245 | €4,501 | €3,539 | ▼ 21.4% |
| Other amounts payable47/48 | - | - | - | - | - | €2,344 | €1,127 | ▼ 51.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €332 | €385 | €429 | €30 | €388 | €136 | €456 | ▲ 235% |
| + Depreciation and write-downs630 | €2,213 | €554 | €347 | €195 | €426 | €3,139 | €3,139 | = |
| Operating cash flow (approximation) | €2,545 | €939 | €776 | €225 | €814 | €3,275 | €3,595 | ▲ 9.8% |
| Investment in fixed assets (approximation) | - | -€332 | €50 | €0 | -€25,115 | €0 | €0 | - |
| Change in cash | - | - | €2,255 | - | - | - | - | - |
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, 17,041 companies had the same profile as TRIFIDE has now. Two years later, 94.3% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
94.3%
was still going
4.9%
stopped otherwise
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of TRIFIDE itself: 0.5% 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 17,041 companies, not a prediction for TRIFIDE. 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 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 12-02-2026 | 2026-00037625 | |
| 30-09-2024 | micro format | 23-12-2024 | 2024-00623494 | |
| 30-09-2023 | micro format | 19-03-2024 | 2024-00045547 | |
| 30-09-2022 | micro format | 29-12-2022 | 2022-20548922 | |
| 30-09-2021 | micro format | 11-12-2021 | 2021-80000281 | |
| 30-09-2020 | micro format | 10-12-2020 | 2020-75300549 | |
| 30-09-2019 | micro format | 23-12-2019 | 2019-77100437 | |
| 30-09-2018 | micro format | 09-01-2019 | 2019-00800394 | |
| 30-09-2017 | micro format | 14-12-2017 | 2017-71800576 | |
| 30-09-2016 | full format | 21-12-2016 | 2016-71200250 |