UKKO
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 08-06-2026 PDF all 7 filings
Amounts without an identifiable currency are taken as euros.
Turnover
≈ €410,000
Estimated: probably between €210,000 and €950,000
EBIT margin
Not included in this filing
Net result
-€137,064▲ 8.2%
2024 · -€149,244
Working capital
-€739,471▼ 48.7%
2024 · -€497,254
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€8,795
▲ 63.0%
2025
20192025
Net result
-€137,064
▲ 8.2%
2025
lowest quarter of the sector
20192025
Equity
-€130,443
2025
lowest quarter of the sector
20192025
Total assets
€3.2m
▼ 19.4%
2025
highest quarter of the sector
20192025
Debt
€3.3m
▼ 15.9%
2025
20192025
Working capital
-€739,471
▼ 48.7%
2025
lowest quarter of the sector
20192025
Solvency
-4.1%
▼ 4.3pp
2025
lowest quarter of the sector
20192025
Current ratio
0.16
▼ 0.48
2025
lowest quarter of the sector
20192025
Return on assets (ROA)
-4.3%
▼ 0.5pp
2025
lowest quarter 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€0.02m-€0.02m▲ 1.1%€0.02m▲ 3.7%€0.1m▲ 434%€0.07m▼ 40.2%-€0.02m-€0.009m▲ 63.0%
Net result€0.02m-€0.009mwithin the sector's middle half▼ 41.8%€0.01mwithin the sector's middle half▲ 10.5%€0.1mabove the sector's middle half▲ 862%€0.003mwithin the sector's middle half▼ 96.7%-€0.1mbelow the sector's middle half-€0.1mbelow the sector's middle half▲ 8.2%
Equity€0.03m-€0.04mwithin the sector's middle half▲ 26.8%€0.05mwithin the sector's middle half▲ 23.4%€0.2mwithin the sector's middle half▲ 182%€0.2mbelow the sector's middle half▲ 2.2%€0.007mbelow the sector's middle half▼ 95.8%-€0.1mbelow the sector's middle half
Total assets€0.1m-€0.6mabove the sector's middle half▲ 324%€1.2mabove the sector's middle half▲ 101%€1.8mabove the sector's middle half▲ 42.9%€1.7mwithin the sector's middle half▼ 5.0%€3.9mwithin the sector's middle half▲ 132%€3.2mabove the sector's middle half▼ 19.4%
Debt€0.1m-€0.6m▲ 416%€1.2m▲ 107%€1.6m▲ 36.6%€1.5m▼ 5.7%€3.9m▲ 155%€3.3m▼ 15.9%
Working capital€0.04m-€0.1mabove the sector's middle half▲ 267%-€0.7mbelow the sector's middle half-€0.1mbelow the sector's middle half▲ 84.8%-€0.1mbelow the sector's middle half▼ 43.2%-€0.5mbelow the sector's middle half▼ 238%-€0.7mbelow the sector's middle half▼ 48.7%
Solvency23.6%-7.1%below the sector's middle half▼ 16.6pp4.3%below the sector's middle half▼ 2.7pp8.6%within the sector's middle half▲ 4.2pp9.2%below the sector's middle half▲ 0.6pp0.2%below the sector's middle half▼ 9.0pp-4.1%below the sector's middle half▼ 4.3pp
Current ratio1.39-1.35within the sector's middle half▼ 0.040.43below the sector's middle half▼ 0.920.91below the sector's middle half▲ 0.480.83below the sector's middle half▼ 0.080.64below the sector's middle half▼ 0.190.16below the sector's middle half▼ 0.48
Return on assets (ROA)10.9%-1.5%within the sector's middle half▼ 9.4pp0.8%within the sector's middle half▼ 0.7pp5.5%within the sector's middle half▲ 4.7pp0.2%below the sector's middle half▼ 5.3pp-3.8%below the sector's middle half▼ 4.0pp-4.3%below the sector's middle half▼ 0.5pp
Staff (FTE)0below the sector's middle half
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 a loss of €8,795, smaller than the loss of €23,769 in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.2m
Fixed assets
€3.0m ▼ 0.7%
Current assets
€138,662 ▼ 84.2%
Equity and liabilities
Equity-€130,443
Debt€3.3m
Equity is negative. Debt (€3.3m) exceeds the balance-sheet total (€3.2m).
Key figures and ratios
EBITDA
€84,283▼
2024 · €218,625
Cash flow
-€43,986▼
2024 · €93,150
Quick ratio
0.11▲
2024 · 0.06
Interest coverage
0.62▼
2024 · 1.75
Debt ≤ 1 year
€878,133▼
2024 · €1.4m
Debt > 1 year
€2.4m▼
2024 · €2.5m
Income taxes
€0▼
2024 · €671
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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 | €7,600 | €780,738 | €259,210 | €2.3m | €120,424 |
| Financial fixed assets | €682,633 | - | - | - | - |
| Depreciation and write-downs of the year | €1,334 | €107,151 | €26,567 | €242,394 | €93,078 |
Source: notes to the 2021 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 | €1,693 | €3,958 | €1,334 | €107,151 | €26,567 | €242,394 | €93,078 | ▼ 61.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €1,227 | €0 | - | - |
| Other operating charges640/8 | - | - | €226 | €1,917 | €3,641 | €4,771 | €2,968 | ▼ 37.8% |
| Non-recurring operating charges66A | - | - | - | - | €2,537 | €0 | - | - |
| Gross operating margin9900 | €22,672 | €25,163 | €23,558 | €226,565 | €104,203 | €223,396 | €87,252 | ▼ 60.9% |
| Operating profit (loss)9901 | €20,979 | €21,204 | €21,998 | €117,497 | €70,230 | -€23,769 | -€8,795 | ▲ 63.0% |
| Financial income75/76B | - | - | €41 | €1 | €1,084 | €47 | €7,596 | ▲ 161× |
| Recurring financial income75 | €390 | €10 | €41 | €1 | €1,084 | €47 | €7,596 | ▲ 161× |
| Financial charges65/66B | - | - | €9,082 | €16,942 | €66,162 | €124,851 | €135,864 | ▲ 8.8% |
| Recurring financial charges65 | €2,353 | €10,276 | €9,082 | €16,942 | €66,162 | €124,851 | €135,864 | ▲ 8.8% |
| Profit (loss) for the period before taxes9903 | €19,017 | €10,938 | €12,958 | €100,555 | €5,153 | -€148,573 | -€137,064 | ▲ 7.7% |
| Income taxes67/77 | €3,086 | €1,670 | €2,713 | €2,025 | €1,861 | €671 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €15,930 | €9,268 | €10,244 | €98,530 | €3,291 | -€149,244 | -€137,064 | ▲ 8.2% |
| Profit (loss) for the period to be appropriated9905 | €15,930 | €9,268 | €10,244 | €98,530 | €3,291 | -€149,244 | -€137,064 | ▲ 8.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.1m | €0.6m | €1.2m | €1.8m | €1.7m | €3.9m | €3.2m | ▼ 19.4% |
| Formation expenses20 | €0 | €0 | - | - | - | - | - | - |
| Fixed assets21/28 | €0.003m | €0.05m | €0.7m | €0.7m | €1.0m | €3.1m | €3.0m | ▼ 0.7% |
| Intangible fixed assets21 | €0 | €0.001m | €0.001m | €32 | - | - | - | - |
| Tangible fixed assets22/27 | €0.003m | €0.001m | €0.008m | €0.7m | €0.9m | €3.0m | €3.0m | ▲ 0.9% |
| Land and buildings22 | - | - | - | €0.7m | €0.9m | €3.0m | €3.0m | ▲ 0.1% |
| Furniture and vehicles24 | - | - | €0.008m | €0.006m | €0.03m | €0.02m | €0.05m | ▲ 107% |
| Financial fixed assets28 | €0 | €0.05m | €0.7m | €0.05m | €0.05m | €0.05m | €0 | ▼ 100% |
| Current assets29/58 | €0.1m | €0.6m | €0.5m | €1.0m | €0.7m | €0.9m | €0.1m | ▼ 84.2% |
| Stocks and contracts in progress3 | €0.07m | €0.4m | €0.3m | €0.9m | €0.6m | €0.8m | €0.05m | ▼ 94.3% |
| Stocks30/36 | - | - | €0.09m | €0.9m | €0.6m | €0.8m | €0.05m | ▼ 94.3% |
| Contracts in progress37 | - | - | €0.2m | - | - | - | - | - |
| Amounts receivable within one year40/41 | €0.07m | €0.1m | €0.2m | €0.2m | €0.1m | €0.09m | €0.09m | ▲ 7.2% |
| Trade receivables40 | - | - | €0.03m | €0.1m | €0.1m | €0.06m | €0.02m | ▼ 64.6% |
| Other amounts receivable41 | - | - | €0.1m | €0.04m | €0.03m | €0.03m | €0.07m | ▲ 140% |
| Current investments50/53 | €0 | €0 | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €0 | €0.06m | €0.04m | €0.001m | €0.002m | €446 | €0 | ▼ 100% |
| Deferred charges and accrued income490/1 | - | - | €0.004m | €0.009m | €0.001m | €0.001m | €0.002m | ▲ 251% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.1m | €0.6m | €1.2m | €1.8m | €1.7m | €3.9m | €3.2m | ▼ 19.4% |
| Equity10/15 | €0.03m | €0.04m | €0.05m | €0.2m | €0.2m | €0.007m | -€0.1m | - |
| Contributions10/11 | €0.02m | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Non-distributable reserves130/1 | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Reserves not available under the articles1311 | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Profit (loss) carried forward14 | €0.02m | €0.02m | €0.03m | €0.1m | €0.1m | -€0.01m | -€0.1m | ▼ 1,073% |
| Amounts payable17/49 | €0.1m | €0.6m | €1.2m | €1.6m | €1.5m | €3.9m | €3.3m | ▼ 15.9% |
| Amounts payable after more than one year17 | - | €0.2m | €0.01m | €0.5m | €0.7m | €2.5m | €2.4m | ▼ 5.0% |
| Financial debts170/4 | - | - | €0.01m | €0.5m | €0.6m | €2.5m | €2.4m | ▼ 5.2% |
| Other amounts payable178/9 | - | - | - | €0.001m | €0.01m | €0.02m | €0.03m | ▲ 24.1% |
| Amounts payable within one year42/48 | €0.1m | €0.4m | €1.2m | €1.2m | €0.9m | €1.4m | €0.9m | ▼ 36.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.02m | €0.03m | €0.03m | €0.1m | ▲ 280% |
| Financial debts43 | - | - | €0.6m | €0.9m | €0.6m | €0.7m | €0.1m | ▼ 84.4% |
| Credit institutions430/8 | - | - | €0.6m | €0.9m | €0.6m | €0.7m | €0.1m | ▼ 84.4% |
| Trade debts44 | €0.04m | €0.008m | €0.1m | €0.06m | €0.1m | €0.03m | €0.03m | ▼ 2.0% |
| Suppliers440/4 | - | - | €0.1m | €0.06m | €0.1m | €0.03m | €0.03m | ▼ 2.0% |
| Advances received on contracts in progress46 | - | - | €0.4m | €0.05m | €0.03m | €0 | €0.02m | - |
| Taxes, remuneration and social security45 | - | - | €0.01m | €0.02m | €0.02m | €0.005m | €0.003m | ▼ 40.0% |
| Taxes450/3 | - | - | €0.01m | €0.02m | €0.02m | €0.005m | €0.003m | ▼ 40.0% |
| Other amounts payable47/48 | - | - | €0.05m | €0.08m | €0.1m | €0.6m | €0.6m | ▼ 1.6% |
| Accrued charges and deferred income492/3 | - | - | - | - | €0.004m | €0 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.02m | €0.009m | €0.01m | €0.1m | €0.003m | -€0.1m | -€0.1m | ▲ 8.2% |
| + Depreciation and write-downs630 | €0.002m | €0.004m | €0.001m | €0.1m | €0.03m | €0.2m | €0.09m | ▼ 61.6% |
| Operating cash flow (approximation) | €0.02m | €0.01m | €0.01m | €0.2m | €0.03m | €0.09m | -€0.04m | - |
| Investment in fixed assets (approximation) | - | -€0.05m | -€0.7m | -€0.1m | -€0.3m | -€2.3m | -€0.07m | ▲ 97.0% |
| Change in cash | - | €0.06m | -€0.02m | -€0.04m | €0.002m | -€0.002m | -€446 | ▲ 73.5% |
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, 1,167 companies had the same profile as UKKO has now. Two years later, 94.9% were still going and 2.0% had gone bankrupt.
- Small
- 5 to 10 years old
- negative equity
- a small loss
94.9%
was still going
2.8%
stopped otherwise
2.0%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of UKKO itself: 1.4% 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 1,167 companies, not a prediction for UKKO. 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 (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 08-06-2026 | 2026-00143992 | |
| 31-12-2024 | full format | 14-08-2025 | 2025-00390406 | |
| 31-12-2023 | full format | 12-07-2024 | 2024-00245646 | |
| 31-12-2022 | micro format | 29-08-2023 | 2023-00404134 | |
| 31-12-2021 | micro format | 24-08-2022 | 2022-20359608 | |
| 31-12-2020 | micro format | 11-06-2021 | 2021-19400571 | |
| 31-12-2019 | micro format | 02-07-2020 | 2020-25500445 |