VAN DE PEER
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 06-07-2026 at the NBB all 34 filings
Turnover
≈ €440,000
Estimated: probably between €310,000 and €500,000
Total assets
€626,037▲ 16.2%
2024 · €538,753
Net result
€83,987▲ 24.1%
2024 · €67,657
Working capital
€310,682▲ 45.9%
2024 · €212,982
In the rankings
#3 oldest company in Zemst, Health and social work sector#10 company by equity in Zemst, Health and social work sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€124,148
▲ 22.0%
2025
20182025
Net result
€83,987
▲ 24.1%
2025
middle half of the sector
20182025
Equity
€584,893
▲ 16.8%
2025
highest quarter of the sector
20182025
Total assets
€626,037
▲ 16.2%
2025
highest quarter of the sector
20182025
Debt
€41,144
▲ 8.7%
2025
20182025
Working capital
€310,682
▲ 45.9%
2025
highest quarter of the sector
20182025
Solvency
93.4%
▲ 0.5pp
2025
highest quarter of the sector
20182025
Current ratio
11.00
▼ 1.99
2025
highest quarter of the sector
20182025
Return on assets (ROA)
13.4%
▲ 0.9pp
2025
middle half of the sector
20182025
Staff (FTE)
1
=
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€53,723-€54,136▲ 0.8%€47,592▼ 12.1%€47,703▲ 0.2%€70,271▲ 47.3%€63,686▼ 9.4%€101,767▲ 59.8%€124,148▲ 22.0%
Net result€36,102-€35,219▼ 2.4%€30,488within the sector's middle half▼ 13.4%€29,636within the sector's middle half▼ 2.8%€47,915within the sector's middle half▲ 61.7%€44,104within the sector's middle half▼ 8.0%€67,657within the sector's middle half▲ 53.4%€83,987within the sector's middle half▲ 24.1%
Equity€245,888-€281,107▲ 14.3%€311,595within the sector's middle half▲ 10.8%€341,230within the sector's middle half▲ 9.5%€389,145above the sector's middle half▲ 14.0%€433,249above the sector's middle half▲ 11.3%€500,906above the sector's middle half▲ 15.6%€584,893above the sector's middle half▲ 16.8%
Total assets€389,258-€408,415▲ 4.9%€404,626within the sector's middle half▼ 0.9%€410,679within the sector's middle half▲ 1.5%€489,278within the sector's middle half▲ 19.1%€499,944within the sector's middle half▲ 2.2%€538,753within the sector's middle half▲ 7.8%€626,037above the sector's middle half▲ 16.2%
Debt€143,371-€127,308▼ 11.2%€93,031▼ 26.9%€69,448▼ 25.3%€100,133▲ 44.2%€66,695▼ 33.4%€37,847▼ 43.3%€41,144▲ 8.7%
Working capital€41,309-€67,908▲ 64.4%€68,525within the sector's middle half▲ 0.9%€70,010within the sector's middle half▲ 2.2%€117,568within the sector's middle half▲ 67.9%€140,034within the sector's middle half▲ 19.1%€212,982within the sector's middle half▲ 52.1%€310,682above the sector's middle half▲ 45.9%
Solvency63.2%-68.8%▲ 5.7pp77.0%within the sector's middle half▲ 8.2pp83.1%above the sector's middle half▲ 6.1pp79.5%within the sector's middle half▼ 3.6pp86.7%above the sector's middle half▲ 7.1pp93.0%above the sector's middle half▲ 6.3pp93.4%above the sector's middle half▲ 0.5pp
Current ratio8.69-8.30▼ 0.405.56within the sector's middle half▼ 2.743.23within the sector's middle half▼ 2.332.89within the sector's middle half▼ 0.334.62within the sector's middle half▲ 1.7312.99above the sector's middle half▲ 8.3711.00above the sector's middle half▼ 1.99
Return on assets (ROA)9.3%-8.6%▼ 0.7pp7.5%within the sector's middle half▼ 1.1pp7.2%below the sector's middle half▼ 0.3pp9.8%within the sector's middle half▲ 2.6pp8.8%within the sector's middle half▼ 1.0pp12.6%within the sector's middle half▲ 3.7pp13.4%within the sector's middle half▲ 0.9pp
Staff (FTE)0.5-0.5=0.6within the sector's middle half▲ 20.0%1▲ 66.7%1=1=1=1=
above
within
below
The sector band is the middle half of the companies in Human health activities (NACE 86). 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 22% 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 €626,037
Fixed assets
€284,293 ▼ 7.7%
Current assets
€341,743 ▲ 48.1%
Equity and liabilities €626,037
Equity
€584,893 ▲ 16.8%
Debt
€41,144 ▲ 8.7%
Debt's share of the balance-sheet total falls from 7.0% to 6.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€147,859▲
2024 · €123,673
Cash flow
€107,698▲
2024 · €89,563
Debt to equity
0.07▼
2024 · 0.08
ROE
14.4%▲
2024 · 13.5%
Interest coverage
over 100▲
2024 · 69.12
Debt ≤ 1 year
€31,062▲
2024 · €17,767
Debt > 1 year
€10,000▼
2024 · €20,000
Income taxes
€39,737▲
2024 · €32,565
Staff costs
€25,355▲
2024 · €25,014
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 1 | 1 |
| full-time | - | - | 0 | 0 | 0 |
| part-time | 1 | 1 | 1 | 1 | 1 |
| in full-time equivalents | 0.6 | 0.6 | 0.5 | 0.5 | 0.5 |
| Average over the year, in full-time equivalents | 0.6 | 0.6 | 0.5 | 0.5 | 0.5 |
| On a permanent contract | 1 | 1 | 1 | 1 | 1 |
| Joined | - | - | 0 | 0 | - |
| Left | - | - | 0 | 0 | - |
| Training hours | - | - | 0 | 0 | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Mortgages, amount registered | €238,000 | €238,000 | €238,000 | €238,000 | €238,000 |
| Carrying value of the mortgaged assets | €259,896 | €252,810 | €245,725 | €238,640 | €231,554 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €12,090 | €24,926 | €8,695 | - |
| Depreciation and write-downs of the year | €11,849 | €11,733 | €13,288 | €21,906 | €23,711 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €27,369 | €29,103 | €24,060 | €25,014 | €25,355 | ▲ 1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,783 | €11,380 | €11,508 | €11,849 | €11,733 | €13,288 | €21,906 | €23,711 | ▲ 8.2% |
| Other operating charges640/8 | - | - | - | €1,279 | €1,610 | €1,851 | €1,530 | €1,580 | ▲ 3.3% |
| Gross operating margin9900 | €88,439 | €86,704 | €81,108 | €88,201 | €112,717 | €102,885 | €150,217 | €174,794 | ▲ 16.4% |
| Operating profit (loss)9901 | €53,723 | €54,136 | €47,592 | €47,703 | €70,271 | €63,686 | €101,767 | €124,148 | ▲ 22.0% |
| Financial income75/76B | - | - | - | €507 | €76 | €138 | €244 | €336 | ▲ 37.6% |
| Recurring financial income75 | €1,643 | €1,647 | €951 | €45 | €76 | €138 | €244 | €336 | ▲ 37.6% |
| Non-recurring financial income76B | - | - | - | €462 | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €3,287 | €2,337 | €1,723 | €1,789 | €760 | ▼ 57.5% |
| Recurring financial charges65 | €5,596 | €4,954 | €4,698 | €3,287 | €2,337 | €1,723 | €1,789 | €760 | ▼ 57.5% |
| Profit (loss) for the period before taxes9903 | €49,770 | €50,829 | €43,846 | €44,924 | €68,010 | €62,100 | €100,222 | €123,724 | ▲ 23.5% |
| Income taxes67/77 | €13,668 | €15,610 | €13,358 | €15,288 | €20,095 | €17,997 | €32,565 | €39,737 | ▲ 22.0% |
| Profit (loss) for the period9904 | €36,102 | €35,219 | €30,488 | €29,636 | €47,915 | €44,104 | €67,657 | €83,987 | ▲ 24.1% |
| Transfer from tax-exempt reserves789 | - | - | - | €8,621 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €36,102 | €35,219 | €31,867 | €38,257 | €47,915 | €44,104 | €67,657 | €83,987 | ▲ 24.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €389,258 | €408,415 | €404,626 | €410,679 | €489,278 | €499,944 | €538,753 | €626,037 | ▲ 16.2% |
| Fixed assets21/28 | €342,579 | €331,198 | €321,070 | €309,221 | €309,577 | €321,215 | €308,004 | €284,293 | ▼ 7.7% |
| Tangible fixed assets22/27 | €342,579 | €331,198 | €321,070 | €309,221 | €309,577 | €321,215 | €308,004 | €284,293 | ▼ 7.7% |
| Land and buildings22 | - | - | - | €306,323 | €297,244 | €288,167 | €279,089 | €270,010 | ▼ 3.3% |
| Plant, machinery and equipment23 | - | - | - | €2,898 | €7,840 | €29,457 | €20,145 | €8,679 | ▼ 56.9% |
| Furniture and vehicles24 | - | - | - | - | €4,493 | €3,591 | €8,771 | €5,605 | ▼ 36.1% |
| Current assets29/58 | €46,680 | €77,217 | €83,556 | €101,458 | €179,701 | €178,729 | €230,749 | €341,743 | ▲ 48.1% |
| Amounts receivable within one year40/41 | €24,819 | €19,157 | €2,223 | €354 | - | €3,130 | €1,586 | €0 | ▼ 100% |
| Trade receivables40 | - | - | - | €354 | - | €3,130 | €1,586 | €0 | ▼ 100% |
| Current investments50/53 | €2,478 | €2,621 | €2,621 | €3,083 | €2,512 | €2,790 | €152,674 | €153,817 | ▲ 0.7% |
| Cash at bank and in hand54/58 | €19,288 | €53,082 | €76,912 | €95,364 | €176,582 | €170,962 | €76,381 | €185,928 | ▲ 143% |
| Deferred charges and accrued income490/1 | - | - | - | €2,657 | €607 | €1,846 | €108 | €1,999 | ▲ 18× |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €389,258 | €408,415 | €404,626 | €410,679 | €489,278 | €499,944 | €538,753 | €626,037 | ▲ 16.2% |
| Equity10/15 | €245,888 | €281,107 | €311,595 | €341,230 | €389,145 | €433,249 | €500,906 | €584,893 | ▲ 16.8% |
| Contributions10/11 | €18,592 | €18,592 | - | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €227,296 | €262,515 | €293,003 | €322,638 | €370,553 | €414,657 | €482,314 | €566,301 | ▲ 17.4% |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,859 | €1,859 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €320,779 | €368,694 | €414,657 | €482,314 | €566,301 | ▲ 17.4% |
| Amounts payable17/49 | €143,371 | €127,308 | €93,031 | €69,448 | €100,133 | €66,695 | €37,847 | €41,144 | ▲ 8.7% |
| Amounts payable after more than one year17 | €138,000 | €118,000 | €78,000 | €38,000 | €38,000 | €28,000 | €20,000 | €10,000 | ▼ 50.0% |
| Financial debts170/4 | - | - | - | €38,000 | €38,000 | €28,000 | €20,000 | €10,000 | ▼ 50.0% |
| Amounts payable within one year42/48 | €5,371 | €9,308 | €15,031 | €31,448 | €62,133 | €38,695 | €17,767 | €31,062 | ▲ 74.8% |
| Financial debts43 | - | - | - | - | - | - | €34 | €0 | ▼ 100% |
| Other loans439 | - | - | - | - | - | - | €34 | €0 | ▼ 100% |
| Trade debts44 | €246 | €85 | €619 | €97 | €1,984 | €344 | €1,356 | €1,769 | ▲ 30.5% |
| Suppliers440/4 | - | - | - | €97 | €1,984 | €344 | €1,356 | €1,769 | ▲ 30.5% |
| Taxes, remuneration and social security45 | - | - | - | €16,392 | €21,103 | €29,281 | €15,460 | €17,639 | ▲ 14.1% |
| Taxes450/3 | - | - | - | €12,241 | €17,349 | €21,570 | €10,354 | €13,704 | ▲ 32.4% |
| Remuneration and social security454/9 | - | - | - | €4,151 | €3,754 | €7,711 | €5,106 | €3,935 | ▼ 22.9% |
| Other amounts payable47/48 | - | - | - | €14,960 | €39,046 | €9,071 | €917 | €11,653 | ▲ 13× |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €80 | €82 | ▲ 2.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €36,102 | €35,219 | €30,488 | €29,636 | €47,915 | €44,104 | €67,657 | €83,987 | ▲ 24.1% |
| + Depreciation and write-downs630 | €13,783 | €11,380 | €11,508 | €11,849 | €11,733 | €13,288 | €21,906 | €23,711 | ▲ 8.2% |
| Operating cash flow (approximation) | €49,884 | €46,599 | €41,996 | €41,485 | €59,648 | €57,392 | €89,563 | €107,698 | ▲ 20.2% |
| Investment in fixed assets (approximation) | - | €0 | -€1,379 | €0 | -€12,090 | -€24,926 | -€8,695 | €0 | - |
| Change in cash | - | €33,794 | €23,830 | €18,452 | €81,217 | -€5,619 | -€94,582 | €109,547 | - |
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 VAN DE PEER 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 VAN DE PEER itself: < 0.1% 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 VAN DE PEER. 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 34 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 06-07-2026 | 2026-00259927 | |
| 31-12-2024 | micro format | 20-06-2025 | 2025-00179209 | |
| 31-12-2023 | micro format | 01-07-2024 | 2024-00212358 | |
| 31-12-2022 | micro format | 17-07-2023 | 2023-00244610 | |
| 31-12-2021 | micro format | 22-07-2022 | 2022-20211511 | |
| 31-12-2020 | micro format | 22-07-2021 | 2021-38000041 | |
| 31-12-2019 | micro format | 14-10-2020 | 2020-61600034 | |
| 31-12-2018 | micro format | 22-07-2019 | 2019-36400580 | |
| 31-12-2017 | micro format | 30-07-2018 | 2018-40100028 | |
| 31-12-2016 | micro format | 10-07-2017 | 2017-29200207 |