UTILIS
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 12-01-2026 PDF all 8 filings
Turnover
€155,230
EBIT margin
5.2%
Net result
€38,829▲ 50.0%
2024 · €25,881
Working capital
€50,130▲ 0.1%
2024 · €50,067
Multi-year overview
2019 to 2025, 7 financial yearsTurnover
no figure
2025
20192025
Operating result
€55,716
▲ 53.5%
2025
20192025
Net result
€38,829
▲ 50.0%
2025
middle half of the sector
20192025
EBIT margin
no figure
2025
20192025
Equity
€60,635
▼ 1.9%
2025
middle half of the sector
20192025
Total assets
€108,066
▲ 14.5%
2025
middle half of the sector
20192025
Debt
€47,431
▲ 45.8%
2025
20192025
Working capital
€50,130
▲ 0.1%
2025
middle half of the sector
20192025
Solvency
56.1%
▼ 9.4pp
2025
middle half of the sector
20192025
Current ratio
2.06
▼ 0.48
2025
middle half of the sector
20192025
Return on assets (ROA)
35.9%
▲ 8.5pp
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
Turnover€155,230-
Operating result€8,010-€9,837▲ 22.8%€23,409▲ 138%€16,526▼ 29.4%€25,072▲ 51.7%€36,309▲ 44.8%€55,716▲ 53.5%
Net result€4,332-€6,116within the sector's middle half▲ 41.2%€16,727within the sector's middle half▲ 173%€11,175within the sector's middle half▼ 33.2%€17,563within the sector's middle half▲ 57.2%€25,881within the sector's middle half▲ 47.4%€38,829within the sector's middle half▲ 50.0%
EBIT margin5.2%-
Equity€35,186-€41,303within the sector's middle half▲ 17.4%€47,636within the sector's middle half▲ 15.3%€54,478within the sector's middle half▲ 14.4%€65,925within the sector's middle half▲ 21.0%€61,806within the sector's middle half▼ 6.2%€60,635within the sector's middle half▼ 1.9%
Total assets€43,913-€61,219within the sector's middle half▲ 39.4%€66,446within the sector's middle half▲ 8.5%€65,074within the sector's middle half▼ 2.1%€76,517within the sector's middle half▲ 17.6%€94,343within the sector's middle half▲ 23.3%€108,066within the sector's middle half▲ 14.5%
Debt€8,727-€19,916▲ 128%€18,810▼ 5.6%€10,596▼ 43.7%€10,592=€32,537▲ 207%€47,431▲ 45.8%
Working capital€17,060-€17,986within the sector's middle half▲ 5.4%€31,077within the sector's middle half▲ 72.8%€41,235within the sector's middle half▲ 32.7%€53,545within the sector's middle half▲ 29.9%€50,067within the sector's middle half▼ 6.5%€50,130within the sector's middle half▲ 0.1%
Solvency80.1%-67.5%within the sector's middle half▼ 12.7pp71.7%within the sector's middle half▲ 4.2pp83.7%above the sector's middle half▲ 12.0pp86.2%above the sector's middle half▲ 2.4pp65.5%within the sector's middle half▼ 20.6pp56.1%within the sector's middle half▼ 9.4pp
Current ratio2.95-1.90within the sector's middle half▼ 1.052.65within the sector's middle half▲ 0.754.89above the sector's middle half▲ 2.246.06above the sector's middle half▲ 1.162.54within the sector's middle half▼ 3.522.06within the sector's middle half▼ 0.48
Return on assets (ROA)9.9%-10.0%within the sector's middle half▲ 0.1pp25.2%above the sector's middle half▲ 15.2pp17.2%within the sector's middle half▼ 8.0pp23.0%within the sector's middle half▲ 5.8pp27.4%above the sector's middle half▲ 4.5pp35.9%above the sector's middle half▲ 8.5pp
above
within
below
The sector band is the middle half of the companies in Advertising, market research and public relations activities (NACE 73). 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 53% higher than in 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €108,066
Fixed assets
€10,505 ▼ 10.5%
Current assets
€97,561 ▲ 18.1%
Equity and liabilities €108,066
Equity
€60,635 ▼ 1.9%
Debt
€47,431 ▲ 45.8%
Debt's share of the balance-sheet total rises from 34.5% to 43.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€60,560▲
2024 · €41,584
Cash flow
€43,673▲
2024 · €31,157
Debt to equity
0.78▲
2024 · 0.53
ROE
64.0%▲
2024 · 41.9%
Interest coverage
11.22▼
2024 · 19.47
Debt ≤ 1 year
€47,431▲
2024 · €32,537
Income taxes
€12,198▲
2024 · €9,069
Supplier credit
6 days▲
2024 · 3 days
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 | €1,438 | €3,794 | €4,634 | €3,610 |
| Depreciation and write-downs of the year | €4,754 | €4,656 | €5,275 | €4,844 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Turnover70 | €155,230 | - | - | - | - | - | - | - |
| Non-recurring operating income76A | - | - | - | - | - | €413 | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €155,295 | €152,533 | €145,885 | €119,828 | ▼ 17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,053 | €8,377 | €8,874 | €4,754 | €4,656 | €5,275 | €4,844 | ▼ 8.2% |
| Other operating charges640/8 | - | - | - | €1,542 | €1,224 | €1,075 | €948 | ▼ 11.9% |
| Gross operating margin9900 | €17,474 | €18,338 | €33,418 | €22,822 | €30,952 | €42,659 | €61,508 | ▲ 44.2% |
| Operating profit (loss)9901 | €8,010 | €9,837 | €23,409 | €16,526 | €25,072 | €36,309 | €55,716 | ▲ 53.5% |
| Financial income75/76B | - | - | - | €18 | €58 | €777 | €706 | ▼ 9.2% |
| Recurring financial income75 | €55 | €38 | €77 | €18 | €58 | €777 | €706 | ▼ 9.2% |
| Financial charges65/66B | - | - | - | €60 | €63 | €2,136 | €5,395 | ▲ 153% |
| Recurring financial charges65 | €113 | €47 | €53 | €60 | €63 | €2,136 | €5,395 | ▲ 153% |
| Profit (loss) for the period before taxes9903 | €7,952 | €9,828 | €23,433 | €16,483 | €25,066 | €34,950 | €51,027 | ▲ 46.0% |
| Income taxes67/77 | €3,619 | €3,711 | €6,706 | €5,309 | €7,503 | €9,069 | €12,198 | ▲ 34.5% |
| Profit (loss) for the period9904 | €4,332 | €6,116 | €16,727 | €11,175 | €17,563 | €25,881 | €38,829 | ▲ 50.0% |
| Profit (loss) for the period to be appropriated9905 | €4,332 | €6,116 | €16,727 | €11,175 | €17,563 | €25,881 | €38,829 | ▲ 50.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €43,913 | €61,219 | €66,446 | €65,074 | €76,517 | €94,343 | €108,066 | ▲ 14.5% |
| Fixed assets21/28 | €18,126 | €23,317 | €16,559 | €13,243 | €12,380 | €11,739 | €10,505 | ▼ 10.5% |
| Tangible fixed assets22/27 | €18,126 | €23,317 | €16,559 | €13,243 | €12,380 | €11,739 | €10,505 | ▼ 10.5% |
| Furniture and vehicles24 | - | - | - | €13,243 | €12,380 | €7,563 | €3,243 | ▼ 57.1% |
| Other tangible fixed assets26 | - | - | - | - | - | €4,176 | €7,262 | ▲ 73.9% |
| Current assets29/58 | €25,787 | €37,902 | €49,887 | €51,832 | €64,137 | €82,603 | €97,561 | ▲ 18.1% |
| Amounts receivable within one year40/41 | €13,177 | €19,028 | €19,722 | €14,831 | €45,289 | €41,747 | €37,144 | ▼ 11.0% |
| Trade receivables40 | - | - | - | €13,140 | €15,289 | €14,421 | €12,560 | ▼ 12.9% |
| Other amounts receivable41 | - | - | - | €1,691 | €30,000 | €27,326 | €24,584 | ▼ 10.0% |
| Cash at bank and in hand54/58 | €12,610 | €18,874 | €28,854 | €35,523 | €17,317 | €39,303 | €58,472 | ▲ 48.8% |
| Deferred charges and accrued income490/1 | - | - | - | €1,478 | €1,531 | €1,554 | €1,946 | ▲ 25.2% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €43,913 | €61,219 | €66,446 | €65,074 | €76,517 | €94,343 | €108,066 | ▲ 14.5% |
| Equity10/15 | €35,186 | €41,303 | €47,636 | €54,478 | €65,925 | €61,806 | €60,635 | ▼ 1.9% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Contributions outside capital11 | - | - | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Other1109/19 | - | - | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €14,726 | €20,843 | €27,176 | €34,018 | €45,465 | €41,346 | €40,175 | ▼ 2.8% |
| Amounts payable17/49 | €8,727 | €19,916 | €18,810 | €10,596 | €10,592 | €32,537 | €47,431 | ▲ 45.8% |
| Amounts payable within one year42/48 | €8,727 | €19,916 | €18,810 | €10,596 | €10,592 | €32,537 | €47,431 | ▲ 45.8% |
| Trade debts44 | €2,992 | €12,320 | €1,858 | €1,847 | €1,919 | €1,080 | €2,047 | ▲ 89.5% |
| Suppliers440/4 | - | - | - | €1,847 | €1,919 | €1,080 | €2,047 | ▲ 89.5% |
| Taxes, remuneration and social security45 | - | - | - | €3,654 | €3,462 | €6,170 | €12,110 | ▲ 96.3% |
| Taxes450/3 | - | - | - | €3,654 | €3,462 | €6,170 | €12,110 | ▲ 96.3% |
| Other amounts payable47/48 | - | - | - | €5,095 | €5,211 | €25,287 | €33,275 | ▲ 31.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4,332 | €6,116 | €16,727 | €11,175 | €17,563 | €25,881 | €38,829 | ▲ 50.0% |
| + Depreciation and write-downs630 | €8,053 | €8,377 | €8,874 | €4,754 | €4,656 | €5,275 | €4,844 | ▼ 8.2% |
| Operating cash flow (approximation) | €12,386 | €14,493 | €25,601 | €15,929 | €22,220 | €31,157 | €43,673 | ▲ 40.2% |
| Investment in fixed assets (approximation) | - | -€13,568 | -€2,116 | -€1,438 | -€3,794 | -€4,634 | -€3,610 | ▲ 22.1% |
| Change in cash | - | €6,264 | €9,979 | €6,669 | -€18,205 | €21,985 | €19,169 | ▼ 12.8% |
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, 26,972 companies had the same profile as UTILIS has now. Two years later, 94.9% were still going and 1.6% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
94.9%
was still going
3.4%
stopped otherwise
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of UTILIS itself is lower: < 0.1% within 12 months. It rests on far more data about UTILIS than the profile alone.
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 26,972 companies, not a prediction for UTILIS. 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 (8)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 12-01-2026 | 2026-00009101 | |
| 30-06-2024 | micro format | 24-01-2025 | 2025-00012996 | |
| 30-06-2023 | micro format | 21-01-2024 | 2024-00005186 | |
| 30-06-2022 | micro format | 30-01-2023 | 2023-00023970 | |
| 30-06-2021 | micro format | 27-01-2022 | 2022-02500515 | |
| 30-06-2020 | micro format | 29-01-2021 | 2021-02800507 | |
| 30-06-2019 | micro format | 30-01-2020 | 2020-03300023 | |
| 30-06-2018 | micro format | 03-01-2019 | 2019-00200008 |