VERTOMIND
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 02-06-2026 PDF all 16 filings
Turnover
≈ €82,000
Estimated: probably between €39,000 and €160,000
Total assets
€44,100▲ 41.6%
2024 · €31,142
Net result
€10,047▲ 143%
2024 · €4,142
Working capital
€40,756▲ 33.0%
2024 · €30,633
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€14,931
▲ 144%
2025
20182025
Net result
€10,047
▲ 143%
2025
middle half of the sector
20182025
Equity
€40,756
▲ 32.7%
2025
middle half of the sector
20182025
Total assets
€44,100
▲ 41.6%
2025
lowest quarter of the sector
20182025
Debt
€3,344
▲ 672%
2025
20182025
Working capital
€40,756
▲ 33.0%
2025
middle half of the sector
20182025
Solvency
92.4%
▼ 6.2pp
2025
highest quarter of the sector
20182025
Current ratio
13.19
▼ 58.57
2025
highest quarter of the sector
20182025
Return on assets (ROA)
22.8%
▲ 9.5pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€6,964--€1,389€8,787€5,044▼ 42.6%€4,290▼ 14.9%€5,161▲ 20.3%€6,114▲ 18.5%€14,931▲ 144%
Net result€6,494--€1,509€6,987within the sector's middle half€3,342below the sector's middle half▼ 52.2%€2,893below the sector's middle half▼ 13.4%€3,495below the sector's middle half▲ 20.8%€4,142below the sector's middle half▲ 18.5%€10,047within the sector's middle half▲ 143%
Equity€11,359-€9,850▼ 13.3%€16,837below the sector's middle half▲ 70.9%€20,179below the sector's middle half▲ 19.8%€23,072below the sector's middle half▲ 14.3%€26,567within the sector's middle half▲ 15.1%€30,709within the sector's middle half▲ 15.6%€40,756within the sector's middle half▲ 32.7%
Total assets€28,252-€110,190▲ 290%€59,158below the sector's middle half▼ 46.3%€34,850below the sector's middle half▼ 41.1%€47,151below the sector's middle half▲ 35.3%€27,198below the sector's middle half▼ 42.3%€31,142below the sector's middle half▲ 14.5%€44,100below the sector's middle half▲ 41.6%
Debt€16,893-€100,340▲ 494%€42,321▼ 57.8%€14,670▼ 65.3%€24,079▲ 64.1%€631▼ 97.4%€433▼ 31.4%€3,344▲ 672%
Working capital€11,283-€9,774▼ 13.4%€16,761within the sector's middle half▲ 71.5%€20,103within the sector's middle half▲ 19.9%€22,996within the sector's middle half▲ 14.4%€26,491within the sector's middle half▲ 15.2%€30,633within the sector's middle half▲ 15.6%€40,756within the sector's middle half▲ 33.0%
Solvency40.2%-8.9%▼ 31.3pp28.5%below the sector's middle half▲ 19.5pp57.9%within the sector's middle half▲ 29.4pp48.9%within the sector's middle half▼ 9.0pp97.7%above the sector's middle half▲ 48.7pp98.6%above the sector's middle half▲ 0.9pp92.4%above the sector's middle half▼ 6.2pp
Current ratio1.67-1.10▼ 0.571.40within the sector's middle half▲ 0.302.37within the sector's middle half▲ 0.971.96within the sector's middle half▼ 0.4242.98above the sector's middle half▲ 41.0371.76above the sector's middle half▲ 28.7813.19above the sector's middle half▼ 58.57
Return on assets (ROA)23.0%--1.4%▼ 24.4pp11.8%within the sector's middle half▲ 13.2pp9.6%within the sector's middle half▼ 2.2pp6.1%within the sector's middle half▼ 3.5pp12.9%within the sector's middle half▲ 6.7pp13.3%within the sector's middle half▲ 0.5pp22.8%within the sector's middle half▲ 9.5pp
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). 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 144% 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
Equity and liabilities €44,100
Equity
€40,756 ▲ 32.7%
Debt
€3,344 ▲ 672%
Debt's share of the balance-sheet total rises from 1.4% to 7.6%. Equity and debt are higher.
Key figures and ratios
Debt to equity
0.08▲
2024 · 0.01
ROE
24.7%▲
2024 · 13.5%
Debt ≤ 1 year
€3,344▲
2024 · €433
Income taxes
€4,844▲
2024 · €1,933
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 |
|---|---|---|---|---|---|
| Financial fixed assets | - | - | - | - | €0 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €348 | €348 | €384 | €387 | €400 | ▲ 3.2% |
| Gross operating margin9900 | €7,311 | -€1,041 | €9,135 | €5,391 | €4,637 | €5,545 | €6,501 | €15,330 | ▲ 136% |
| Operating profit (loss)9901 | €6,964 | -€1,389 | €8,787 | €5,044 | €4,290 | €5,161 | €6,114 | €14,931 | ▲ 144% |
| Financial charges65/66B | - | - | - | €30 | €34 | €35 | €39 | €40 | ▲ 3.5% |
| Recurring financial charges65 | €140 | €120 | €95 | €30 | €34 | €35 | €39 | €40 | ▲ 3.5% |
| Profit (loss) for the period before taxes9903 | €6,824 | -€1,509 | €8,692 | €5,013 | €4,256 | €5,126 | €6,075 | €14,890 | ▲ 145% |
| Income taxes67/77 | €330 | - | €1,705 | €1,671 | €1,363 | €1,631 | €1,933 | €4,844 | ▲ 151% |
| Profit (loss) for the period9904 | €6,494 | -€1,509 | €6,987 | €3,342 | €2,893 | €3,495 | €4,142 | €10,047 | ▲ 143% |
| Profit (loss) for the period to be appropriated9905 | €6,494 | -€1,509 | €6,987 | €3,342 | €2,893 | €3,495 | €4,142 | €10,047 | ▲ 143% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €28,252 | €110,190 | €59,158 | €34,850 | €47,151 | €27,198 | €31,142 | €44,100 | ▲ 41.6% |
| Fixed assets21/28 | €76 | €76 | €76 | €76 | €76 | €76 | €76 | €0 | ▼ 100% |
| Financial fixed assets28 | €76 | €76 | €76 | €76 | €76 | €76 | €76 | €0 | ▼ 100% |
| Current assets29/58 | €28,176 | €110,114 | €59,082 | €34,774 | €47,075 | €27,122 | €31,066 | €44,100 | ▲ 42.0% |
| Amounts receivable within one year40/41 | €17,528 | €23,313 | €29,446 | €14,702 | €11,096 | €12,645 | €22,285 | €2,188 | ▼ 90.2% |
| Trade receivables40 | - | - | - | €14,702 | €9,801 | €8,712 | €10,467 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | - | €1,295 | €3,933 | €11,818 | €2,188 | ▼ 81.5% |
| Cash at bank and in hand54/58 | €10,648 | €86,801 | €29,636 | €20,072 | €35,979 | €14,477 | €8,781 | €41,912 | ▲ 377% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €28,252 | €110,190 | €59,158 | €34,850 | €47,151 | €27,198 | €31,142 | €44,100 | ▲ 41.6% |
| Equity10/15 | €11,359 | €9,850 | €16,837 | €20,179 | €23,072 | €26,567 | €30,709 | €40,756 | ▲ 32.7% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €5,159 | €5,159 | €10,637 | €13,979 | €16,872 | €20,367 | €24,509 | €34,556 | ▲ 41.0% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €12,119 | €15,012 | €20,367 | €24,509 | €34,556 | ▲ 41.0% |
| Profit (loss) carried forward14 | - | -€1,509 | - | - | - | - | - | - | - |
| Amounts payable17/49 | €16,893 | €100,340 | €42,321 | €14,670 | €24,079 | €631 | €433 | €3,344 | ▲ 672% |
| Amounts payable within one year42/48 | €16,893 | €100,340 | €42,321 | €14,670 | €24,079 | €631 | €433 | €3,344 | ▲ 672% |
| Trade debts44 | €16,563 | €100,340 | €42,321 | €12,705 | €23,716 | €0 | - | - | - |
| Suppliers440/4 | - | - | - | €12,705 | €23,716 | €0 | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €1,965 | €363 | €631 | €433 | €3,344 | ▲ 672% |
| Taxes450/3 | - | - | - | €1,965 | €363 | €631 | €433 | €3,344 | ▲ 672% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,494 | -€1,509 | €6,987 | €3,342 | €2,893 | €3,495 | €4,142 | €10,047 | ▲ 143% |
| Operating cash flow (approximation) | €6,494 | -€1,509 | €6,987 | €3,342 | €2,893 | €3,495 | €4,142 | €10,047 | ▲ 143% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | €0 | €76 | - |
| Change in cash | - | €76,154 | -€57,165 | -€9,564 | €15,907 | -€21,502 | -€5,696 | €33,131 | - |
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, 34,693 companies had the same profile as VERTOMIND has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of VERTOMIND 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 34,693 companies, not a prediction for VERTOMIND. 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 16 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 02-06-2026 | 2026-00130992 | |
| 31-12-2024 | micro format | 02-06-2025 | 2025-00113213 | |
| 31-12-2023 | micro format | 04-06-2024 | 2024-00107337 | |
| 31-12-2022 | micro format | 09-06-2023 | 2023-00115457 | |
| 31-12-2021 | micro format | 22-08-2022 | 2022-20300209 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-60600015 | |
| 31-12-2019 | micro format | 26-10-2020 | 2020-63400592 | |
| 31-12-2018 | micro format | 28-08-2019 | 2019-54200407 | |
| 31-12-2017 | micro format | 31-08-2018 | 2018-58600236 | |
| 31-12-2016 | micro format | 30-08-2017 | 2017-55800389 |