VERFAILLE
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 30-07-2026 at the NBB all 35 filings
Turnover
≈ €2.8m
Estimated: probably between €1.9m and €4.6m
EBIT margin
Not included in this filing
Net result
€210,402▼ 6.1%
2024 · €224,153
Working capital
€341,053▲ 13.6%
2024 · €300,235
In the rankings
#2 company by staff growth in Schaarbeek, Other services sector#6 employer in the Brussels-Capital Region, Repair of computers and personal goods sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€303,012
▼ 5.3%
2025
20182025
Net result
€210,402
▼ 6.1%
2025
middle half of the sector
20182025
Equity
€632,914
▲ 33.9%
2025
middle half of the sector
20182025
Total assets
€1.3m
▲ 2.2%
2025
middle half of the sector
20182025
Debt
€634,021
▼ 17.3%
2025
20182025
Working capital
€341,053
▲ 13.6%
2025
middle half of the sector
20182025
Solvency
50.0%
▲ 11.8pp
2025
middle half of the sector
20182025
Current ratio
1.60
▲ 0.15
2025
middle half of the sector
20182025
Return on assets (ROA)
16.6%
▼ 1.5pp
2025
highest quarter of the sector
20182025
Staff (FTE)
22.5
▲ 7.7%
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.02m-€0.05m▲ 127%-€0.01m-€0.002m▲ 86.6%€0.1m€0.2m▲ 35.9%€0.3m▲ 97.9%€0.3m▼ 5.3%
Net result-€182-€0.02m-€0.03mbelow the sector's middle half-€0.01mbelow the sector's middle half▲ 62.0%€0.08mwithin the sector's middle half€0.1mwithin the sector's middle half▲ 33.4%€0.2mabove the sector's middle half▲ 107%€0.2mwithin the sector's middle half▼ 6.1%
Equity€0.09m-€0.1m▲ 18.5%€0.08mwithin the sector's middle half▼ 24.7%€0.07mwithin the sector's middle half▼ 12.4%€0.1mwithin the sector's middle half▲ 120%€0.2mwithin the sector's middle half▲ 67.5%€0.5mwithin the sector's middle half▲ 90.3%€0.6mwithin the sector's middle half▲ 33.9%
Total assets€0.8m-€0.9m▲ 9.8%€0.9mwithin the sector's middle half▼ 3.8%€0.8mwithin the sector's middle half▼ 10.4%€0.9mwithin the sector's middle half▲ 16.7%€1.2mwithin the sector's middle half▲ 27.6%€1.2mwithin the sector's middle half▲ 7.8%€1.3mwithin the sector's middle half▲ 2.2%
Debt€0.7m-€0.8m▲ 8.8%€0.8m▼ 1.2%€0.7m▼ 10.2%€0.8m▲ 6.8%€0.9m▲ 19.7%€0.8m▼ 15.0%€0.6m▼ 17.3%
Working capital€0.07m-€0.07m▼ 7.3%€0.05mwithin the sector's middle half▼ 26.5%€0.08mwithin the sector's middle half▲ 61.3%€0.09mwithin the sector's middle half▲ 17.8%€0.1mwithin the sector's middle half▲ 40.7%€0.3mwithin the sector's middle half▲ 132%€0.3mwithin the sector's middle half▲ 13.6%
Solvency10.5%-11.4%▲ 0.8pp8.9%below the sector's middle half▼ 2.5pp8.7%below the sector's middle half▼ 0.2pp16.4%within the sector's middle half▲ 7.7pp21.6%within the sector's middle half▲ 5.1pp38.1%within the sector's middle half▲ 16.5pp50.0%within the sector's middle half▲ 11.8pp
Current ratio1.14-1.11▼ 0.031.08within the sector's middle half▼ 0.021.16within the sector's middle half▲ 0.071.16within the sector's middle half▲ 0.011.18within the sector's middle half▲ 0.011.45within the sector's middle half▲ 0.281.60within the sector's middle half▲ 0.15
Return on assets (ROA)0.0%-1.8%▲ 1.8pp-2.9%below the sector's middle half▼ 4.7pp-1.2%below the sector's middle half▲ 1.7pp9.0%within the sector's middle half▲ 10.2pp9.4%within the sector's middle half▲ 0.4pp18.1%above the sector's middle half▲ 8.7pp16.6%above the sector's middle half▼ 1.5pp
Staff (FTE)15.4-17▲ 10.4%19.2above the sector's middle half▲ 12.9%18above the sector's middle half▼ 6.3%18.3above the sector's middle half▲ 1.7%19.9above the sector's middle half▲ 8.7%20.9above the sector's middle half▲ 5.0%22.5above the sector's middle half▲ 7.7%
above
within
below
The sector band is the middle half of the companies in Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles (NACE 95). 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% lower than 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 €1.3m
Fixed assets
€357,708 ▲ 29.1%
Current assets
€909,227 ▼ 5.5%
Equity and liabilities €1.3m
Equity
€632,914 ▲ 33.9%
Debt
€634,021 ▼ 17.3%
Debt's share of the balance-sheet total falls from 61.9% to 50.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€369,604▼
2024 · €393,107
Cash flow
€276,994▼
2024 · €297,292
Quick ratio
1.48▲
2024 · 1.40
Debt to equity
1.00▼
2024 · 1.62
ROE
33.2%▼
2024 · 47.4%
Interest coverage
24.86▼
2024 · 26.31
Debt ≤ 1 year
€568,174▼
2024 · €662,264
Debt > 1 year
€65,822▼
2024 · €100,299
Income taxes
€79,366▼
2024 · €82,688
Staff costs
€1.2m▲
2024 · €999,276
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 | 21 | 17 | 21 | 21 | 22 |
| full-time | 16 | 15 | 18 | 18 | 19 |
| part-time | 5 | 2 | 3 | 3 | 3 |
| in full-time equivalents | 18 | 16 | 19.6 | 19.6 | 20.6 |
| Average over the year, in full-time equivalents | 18 | 18 | 19.9 | 20.9 | 22.5 |
| On a permanent contract | 16 | 16 | 20 | 20 | 21 |
| Joined | 14 | 23 | 30 | 25 | 32 |
| Left | 10 | 27 | 26 | 25 | 31 |
| Training hours | 4,287 | 3,404 | 3,675 | 3,215 | 3,098 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €98,837 | €75,078 | €51,319 | €27,182 | - |
| Pledge on the business | €93,500 | €93,500 | €93,500 | €93,500 | €93,500 |
| Carrying value of the other pledged assets | €13,388 | €5,450 | €2,922 | €394 | - |
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 | €10,566 | €105,528 | €106,618 | €40,032 | €167,397 |
| Financial fixed assets | - | €125 | €12,405 | €19,975 | - |
| Depreciation and write-downs of the year | €54,194 | €58,949 | €68,508 | €73,139 | €66,592 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0.03m | €0.02m | €0.04m | €0.03m | €0.05m | ▲ 73.7% |
| Remuneration, social security and pensions62 | - | - | - | €0.7m | €0.8m | €1.0m | €1.0m | €1.2m | ▲ 18.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.05m | €0.05m | €0.05m | €0.05m | €0.06m | €0.07m | €0.07m | €0.07m | ▼ 9.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | €0.003m | -€0.003m | €0 | - |
| Other operating charges640/8 | - | - | - | €0.005m | €0.007m | €0.009m | €0.02m | €0.01m | ▼ 25.9% |
| Non-recurring operating charges66A | - | - | - | €0.03m | €0.01m | €0.01m | €0.03m | €0.05m | ▲ 82.7% |
| Gross operating margin9900 | €0.7m | €0.8m | €0.7m | €0.8m | €1.0m | €1.2m | €1.4m | €1.6m | ▲ 13.0% |
| Operating profit (loss)9901 | €0.02m | €0.05m | -€0.01m | -€0.002m | €0.1m | €0.2m | €0.3m | €0.3m | ▼ 5.3% |
| Financial income75/76B | - | - | - | €0.003m | €0.002m | €0.002m | €0.002m | €0.002m | ▼ 10.6% |
| Recurring financial income75 | €0.004m | €0.002m | €0.002m | €0.003m | €0.002m | €0.002m | €0.002m | €0.002m | ▼ 10.6% |
| Financial charges65/66B | - | - | - | €0.009m | €0.009m | €0.01m | €0.01m | €0.01m | ▼ 0.5% |
| Recurring financial charges65 | €0.01m | €0.01m | €0.01m | €0.009m | €0.009m | €0.01m | €0.01m | €0.01m | ▼ 0.5% |
| Profit (loss) for the period before taxes9903 | €0.01m | €0.03m | -€0.03m | -€0.008m | €0.1m | €0.2m | €0.3m | €0.3m | ▼ 5.6% |
| Income taxes67/77 | €0.01m | €0.02m | €148 | €0.002m | €0.03m | €0.04m | €0.08m | €0.08m | ▼ 4.0% |
| Profit (loss) for the period9904 | -€182 | €0.02m | -€0.03m | -€0.01m | €0.08m | €0.1m | €0.2m | €0.2m | ▼ 6.1% |
| Profit (loss) for the period to be appropriated9905 | -€182 | €0.02m | -€0.03m | -€0.01m | €0.08m | €0.1m | €0.2m | €0.2m | ▼ 6.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.8m | €0.9m | €0.9m | €0.8m | €0.9m | €1.2m | €1.2m | €1.3m | ▲ 2.2% |
| Fixed assets21/28 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | €0.3m | €0.4m | ▲ 29.1% |
| Tangible fixed assets22/27 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | €0.2m | €0.3m | ▲ 33.1% |
| Plant, machinery and equipment23 | - | - | - | €0.09m | €0.1m | €0.2m | €0.1m | €0.1m | ▼ 10.6% |
| Furniture and vehicles24 | - | - | - | €0.01m | €0.01m | €0.02m | €0.01m | €0.09m | ▲ 635% |
| Leasing and similar rights25 | - | - | - | €0.008m | €0.005m | €0.003m | €394 | €0.02m | ▲ 45× |
| Other tangible fixed assets26 | - | - | - | €0.09m | €0.09m | €0.08m | €0.08m | €0.09m | ▲ 6.2% |
| Financial fixed assets28 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.01m | €0.03m | €0.03m | = |
| Current assets29/58 | €0.6m | €0.7m | €0.6m | €0.6m | €0.7m | €0.9m | €1.0m | €0.9m | ▼ 5.5% |
| Amounts receivable after more than one year29 | - | - | - | €0.04m | €0.08m | €0.08m | €0.08m | €0.05m | ▼ 44.0% |
| Other amounts receivable291 | - | - | - | €0.04m | €0.08m | €0.08m | €0.08m | €0.05m | ▼ 44.0% |
| Stocks and contracts in progress3 | €0.05m | €0.06m | €0.07m | €0.07m | €0.05m | €0.05m | €0.03m | €0.07m | ▲ 95.6% |
| Stocks30/36 | - | - | - | €0.07m | €0.05m | €0.05m | €0.03m | €0.07m | ▲ 95.6% |
| Amounts receivable within one year40/41 | €0.5m | €0.6m | €0.4m | €0.4m | €0.4m | €0.6m | €0.7m | €0.6m | ▼ 13.2% |
| Trade receivables40 | - | - | - | €0.4m | €0.4m | €0.6m | €0.7m | €0.6m | ▼ 19.8% |
| Other amounts receivable41 | - | - | - | €0.03m | €0.002m | €176 | €279 | €0.05m | ▲ 172× |
| Cash at bank and in hand54/58 | €0.02m | €0.001m | €0.06m | €0.04m | €0.09m | €0.1m | €0.1m | €0.1m | ▲ 42.5% |
| Deferred charges and accrued income490/1 | - | - | - | €0.008m | €0.01m | €0.01m | €0.01m | €0.02m | ▲ 42.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.8m | €0.9m | €0.9m | €0.8m | €0.9m | €1.2m | €1.2m | €1.3m | ▲ 2.2% |
| Equity10/15 | €0.09m | €0.1m | €0.08m | €0.07m | €0.1m | €0.2m | €0.5m | €0.6m | ▲ 33.9% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Tax-exempt reserves132 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Profit (loss) carried forward14 | -€0.04m | -€0.02m | -€0.05m | -€0.06m | €0.02m | €0.1m | €0.3m | €0.5m | ▲ 46.1% |
| Amounts payable17/49 | €0.7m | €0.8m | €0.8m | €0.7m | €0.8m | €0.9m | €0.8m | €0.6m | ▼ 17.3% |
| Amounts payable after more than one year17 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | €0.07m | ▼ 34.4% |
| Financial debts170/4 | - | - | - | €0.1m | €0.1m | €0.1m | €0.07m | €0.07m | ▼ 1.7% |
| Other amounts payable178/9 | - | - | - | €0.08m | €0.06m | €0.06m | €0.03m | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €0.5m | €0.6m | €0.6m | €0.5m | €0.6m | €0.7m | €0.7m | €0.6m | ▼ 14.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.2m | €0.2m | €0.1m | €0.2m | €0.07m | ▼ 61.4% |
| Trade debts44 | €0.3m | €0.3m | €0.2m | €0.2m | €0.3m | €0.4m | €0.2m | €0.3m | ▲ 9.1% |
| Suppliers440/4 | - | - | - | €0.2m | €0.3m | €0.4m | €0.2m | €0.3m | ▲ 9.1% |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.1m | €0.2m | €0.2m | €0.1m | ▼ 28.8% |
| Taxes450/3 | - | - | - | €0.04m | €0.04m | €0.06m | €0.05m | €0.03m | ▼ 43.8% |
| Remuneration and social security454/9 | - | - | - | €0.08m | €0.08m | €0.1m | €0.1m | €0.09m | ▼ 21.6% |
| Other amounts payable47/48 | - | - | - | - | €0.005m | €0.06m | €0.08m | €0.1m | ▲ 47.7% |
| Accrued charges and deferred income492/3 | - | - | - | €0.001m | €80 | €24 | €0.005m | €25 | ▼ 99.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€182 | €15,890 | -€25,149 | -€9,546 | €81,007 | €108,052 | €224,153 | €210,402 | ▼ 6.1% |
| + Depreciation and write-downs630 | €46,934 | €48,614 | €50,608 | €54,194 | €58,949 | €68,508 | €73,139 | €66,592 | ▼ 9.0% |
| Operating cash flow (approximation) | €46,752 | €64,504 | €25,459 | €44,648 | €139,956 | €176,560 | €297,292 | €276,994 | ▼ 6.8% |
| Investment in fixed assets (approximation) | - | -€28,851 | -€87,684 | -€10,566 | -€105,653 | -€114,285 | -€60,007 | -€147,177 | ▼ 145% |
| Change in cash | - | -€16,616 | €57,175 | -€17,682 | €46,079 | €31,889 | -€20,110 | €41,852 | - |
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, 20,136 companies had the same profile as VERFAILLE has now. Two years later, 95.0% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.0%
was still going
4.7%
stopped otherwise
0.2%
went bankrupt
That fits the bankruptcy probability of VERFAILLE 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 20,136 companies, not a prediction for VERFAILLE. 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 35 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 30-07-2026 | 2026-00357043 | |
| 31-12-2024 | full format | 30-07-2025 | 2025-00344632 | |
| 31-12-2023 | full format | 26-07-2024 | 2024-00297636 | |
| 31-12-2022 | full format | 31-07-2023 | 2023-00307595 | |
| 31-12-2021 | full format | 10-08-2022 | 2022-20280655 | |
| 31-12-2020 | full format | 04-06-2021 | 2021-17300007 | |
| 31-12-2019 | full format | 05-06-2020 | 2020-15200165 | |
| 31-12-2018 | full format | 28-05-2019 | 2019-14700106 | |
| 31-12-2017 | full format | 21-06-2018 | 2018-20900277 | |
| 31-12-2016 | full format | 23-05-2017 | 2017-13100364 |