Webeau
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 12-07-2026 at the NBB all 12 filings
Turnover
≈ €250,000
Estimated: probably between €190,000 and €290,000
Total assets
€277,456▼ 4.7%
2024 · €291,223
Net result
€22,665▲ 1.4%
2024 · €22,361
Working capital
-€7,073▲ 68.9%
2024 · -€22,723
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€35,555
▲ 0.8%
2025
20182025
Net result
€22,665
▲ 1.4%
2025
highest quarter of the sector
20182025
Equity
€114,883
▲ 24.6%
2025
highest quarter of the sector
20182025
Total assets
€277,456
▼ 4.7%
2025
highest quarter of the sector
20182025
Debt
€162,573
▼ 18.3%
2025
20182025
Working capital
-€7,073
▲ 68.9%
2025
middle half of the sector
20182025
Solvency
41.4%
▲ 9.7pp
2025
middle half of the sector
20182025
Current ratio
0.92
▲ 0.18
2025
middle half of the sector
20182025
Return on assets (ROA)
8.2%
▲ 0.5pp
2025
middle half of the sector
20182025
Staff (FTE)
1.8
▼ 18.2%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€7,988-€8,743▲ 9.5%€18,075▲ 107%€10,430▼ 42.3%€14,159▲ 35.8%€33,731▲ 138%€35,281▲ 4.6%€35,555▲ 0.8%
Net result€2-€1,095▲ 534×€11,559within the sector's middle half▲ 955%€4,468within the sector's middle half▼ 61.3%€6,275within the sector's middle half▲ 40.5%€21,453above the sector's middle half▲ 242%€22,361above the sector's middle half▲ 4.2%€22,665above the sector's middle half▲ 1.4%
Equity€25,006-€26,102▲ 4.4%€37,661within the sector's middle half▲ 44.3%€42,129within the sector's middle half▲ 11.9%€48,404within the sector's middle half▲ 14.9%€69,858above the sector's middle half▲ 44.3%€92,218above the sector's middle half▲ 32.0%€114,883above the sector's middle half▲ 24.6%
Total assets€208,185-€203,047▼ 2.5%€190,087within the sector's middle half▼ 6.4%€209,009within the sector's middle half▲ 10.0%€204,635above the sector's middle half▼ 2.1%€278,385above the sector's middle half▲ 36.0%€291,223above the sector's middle half▲ 4.6%€277,456above the sector's middle half▼ 4.7%
Debt€183,178-€176,945▼ 3.4%€152,426▼ 13.9%€166,881▲ 9.5%€156,231▼ 6.4%€208,528▲ 33.5%€199,004▼ 4.6%€162,573▼ 18.3%
Working capital-€8,171--€25,727▼ 215%-€10,704within the sector's middle half▲ 58.4%-€26,110below the sector's middle half▼ 144%-€14,726within the sector's middle half▲ 43.6%-€6,742within the sector's middle half▲ 54.2%-€22,723within the sector's middle half▼ 237%-€7,073within the sector's middle half▲ 68.9%
Solvency12.0%-12.9%▲ 0.8pp19.8%within the sector's middle half▲ 7.0pp20.2%within the sector's middle half▲ 0.3pp23.7%within the sector's middle half▲ 3.5pp25.1%within the sector's middle half▲ 1.4pp31.7%within the sector's middle half▲ 6.6pp41.4%within the sector's middle half▲ 9.7pp
Current ratio0.87-0.53▼ 0.330.78within the sector's middle half▲ 0.240.66within the sector's middle half▼ 0.120.79within the sector's middle half▲ 0.140.93within the sector's middle half▲ 0.140.74within the sector's middle half▼ 0.190.92within the sector's middle half▲ 0.18
Return on assets (ROA)0.0%-0.5%▲ 0.5pp6.1%within the sector's middle half▲ 5.5pp2.1%within the sector's middle half▼ 3.9pp3.1%within the sector's middle half▲ 0.9pp7.7%within the sector's middle half▲ 4.6pp7.7%within the sector's middle half=8.2%within the sector's middle half▲ 0.5pp
Staff (FTE)0.8-0.8=0.8below the sector's middle half=1▲ 25.0%1.3▲ 30.0%1.6▲ 23.1%2.2▲ 37.5%1.8▼ 18.2%
above
within
below
The sector band is the middle half of the companies in Personal service activities (NACE 96). 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 1% higher than in 2024 and the highest since 2021. It is the fourth rise in a row.
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 €277,456
Fixed assets
€192,908 ▼ 14.6%
Current assets
€84,549 ▲ 29.5%
Equity and liabilities €277,456
Equity
€114,883 ▲ 24.6%
Debt
€162,573 ▼ 18.3%
Debt's share of the balance-sheet total falls from 68.3% to 58.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€72,026▲
2024 · €66,797
Cash flow
€59,136▲
2024 · €53,876
Quick ratio
0.69▲
2024 · 0.62
Debt to equity
1.42▼
2024 · 2.16
ROE
19.7%▼
2024 · 24.2%
Interest coverage
10.54▲
2024 · 7.39
Debt ≤ 1 year
€91,621▲
2024 · €88,016
Debt > 1 year
€70,653▼
2024 · €110,430
Income taxes
€6,311▲
2024 · €3,882
Staff costs
€63,958▲
2024 · €54,746
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 | 2 | 3 | 1 | 2 |
| full-time | - | - | - | - | 1 |
| part-time | 1 | 2 | 3 | 1 | 1 |
| in full-time equivalents | 0.8 | 1.6 | 2.1 | 0.8 | 1.8 |
| Average over the year, in full-time equivalents | 0.8 | 1.1 | 1.2 | 1.7 | 1.8 |
| On a permanent contract | 1 | 1 | 1 | 1 | 2 |
| Joined | - | 1 | 2 | 1 | 1 |
| Left | - | 0 | 1 | 3 | 1 |
| Training hours | 58 | 612 | 176 | 865 | 28 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €27,942 | €15,150 | €71,918 | €65,754 | €3,450 |
| Depreciation and write-downs of the year | €21,857 | €25,484 | €28,857 | €31,515 | €36,471 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2024 · 1 entry · €521 awarded · €521 paidAnnual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €99 | €17,000 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €20,189 | €30,960 | €36,363 | €54,746 | €63,958 | ▲ 16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €21,152 | €20,753 | €21,885 | €21,857 | €25,484 | €28,857 | €31,515 | €36,471 | ▲ 15.7% |
| Other operating charges640/8 | - | - | - | €1,632 | €1,709 | €1,823 | €2,370 | €5,960 | ▲ 151% |
| Non-recurring operating charges66A | - | - | - | - | €234 | - | - | - | - |
| Gross operating margin9900 | €56,352 | €56,383 | €59,331 | €54,108 | €72,545 | €100,774 | €123,913 | €141,944 | ▲ 14.6% |
| Operating profit (loss)9901 | €7,988 | €8,743 | €18,075 | €10,430 | €14,159 | €33,731 | €35,281 | €35,555 | ▲ 0.8% |
| Financial income75/76B | - | - | - | €14 | €1 | €2 | €0 | €258 | ▲ 1,356× |
| Recurring financial income75 | €260 | €2 | €1 | €14 | €1 | €2 | €0 | €258 | ▲ 1,356× |
| Financial charges65/66B | - | - | - | €5,948 | €5,432 | €6,720 | €9,039 | €6,837 | ▼ 24.4% |
| Recurring financial charges65 | €7,719 | €7,612 | €5,775 | €5,948 | €5,432 | €6,720 | €9,039 | €6,837 | ▼ 24.4% |
| Profit (loss) for the period before taxes9903 | €529 | €1,134 | €12,300 | €4,496 | €8,727 | €27,012 | €26,243 | €28,976 | ▲ 10.4% |
| Income taxes67/77 | €527 | €38 | €741 | €28 | €2,452 | €5,559 | €3,882 | €6,311 | ▲ 62.6% |
| Profit (loss) for the period9904 | €2 | €1,095 | €11,559 | €4,468 | €6,275 | €21,453 | €22,361 | €22,665 | ▲ 1.4% |
| Profit (loss) for the period to be appropriated9905 | €2 | €1,095 | €11,559 | €4,468 | €6,275 | €21,453 | €22,361 | €22,665 | ▲ 1.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €208,185 | €203,047 | €190,087 | €209,009 | €204,635 | €278,385 | €291,223 | €277,456 | ▼ 4.7% |
| Fixed assets21/28 | €154,722 | €173,568 | €153,113 | €159,199 | €148,630 | €191,691 | €225,929 | €192,908 | ▼ 14.6% |
| Tangible fixed assets22/27 | €154,722 | €173,568 | €153,113 | €159,199 | €148,630 | €191,691 | €225,929 | €192,908 | ▼ 14.6% |
| Land and buildings22 | - | - | - | €99,726 | €91,237 | €82,748 | €85,306 | €75,654 | ▼ 11.3% |
| Plant, machinery and equipment23 | - | - | - | €47,025 | €44,174 | €102,518 | €93,722 | €80,501 | ▼ 14.1% |
| Furniture and vehicles24 | - | - | - | €12,448 | €13,219 | €6,425 | €46,901 | €36,752 | ▼ 21.6% |
| Current assets29/58 | €53,463 | €29,479 | €36,974 | €49,811 | €56,005 | €86,695 | €65,294 | €84,549 | ▲ 29.5% |
| Stocks and contracts in progress3 | €6,439 | €6,186 | €5,308 | €8,285 | €9,710 | €11,132 | €10,651 | €21,379 | ▲ 101% |
| Stocks30/36 | - | - | - | €8,285 | €9,710 | €11,132 | €10,651 | €21,379 | ▲ 101% |
| Amounts receivable within one year40/41 | €7,165 | €6,924 | €3,190 | €28,650 | €28,783 | €54,086 | €21,642 | €21,114 | ▼ 2.4% |
| Trade receivables40 | - | - | - | €28,345 | €28,433 | €53,819 | €21,401 | €20,860 | ▼ 2.5% |
| Other amounts receivable41 | - | - | - | €305 | €350 | €266 | €242 | €255 | ▲ 5.3% |
| Cash at bank and in hand54/58 | €38,623 | €15,154 | €25,879 | €11,457 | €16,037 | €19,843 | €31,234 | €39,502 | ▲ 26.5% |
| Deferred charges and accrued income490/1 | - | - | - | €1,419 | €1,475 | €1,634 | €1,766 | €2,553 | ▲ 44.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €208,185 | €203,047 | €190,087 | €209,009 | €204,635 | €278,385 | €291,223 | €277,456 | ▼ 4.7% |
| Equity10/15 | €25,006 | €26,102 | €37,661 | €42,129 | €48,404 | €69,858 | €92,218 | €114,883 | ▲ 24.6% |
| Contributions10/11 | €25,000 | €25,000 | - | €25,000 | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Reserves13 | €1 | €56 | €634 | €857 | €1,171 | €2,244 | €2,500 | €2,500 | = |
| Non-distributable reserves130/1 | - | - | - | €857 | €1,171 | €2,244 | €2,500 | €2,500 | = |
| Reserves not available under the articles1311 | - | - | - | €857 | €1,171 | €2,244 | €2,500 | €2,500 | = |
| Profit (loss) carried forward14 | €5 | €1,046 | €12,027 | €16,271 | €22,233 | €42,614 | €64,718 | €87,383 | ▲ 35.0% |
| Amounts payable17/49 | €183,178 | €176,945 | €152,426 | €166,881 | €156,231 | €208,528 | €199,004 | €162,573 | ▼ 18.3% |
| Amounts payable after more than one year17 | €119,574 | €120,829 | €104,063 | €90,081 | €85,062 | €113,932 | €110,430 | €70,653 | ▼ 36.0% |
| Financial debts170/4 | - | - | - | €90,081 | €85,062 | €113,932 | €110,430 | €70,653 | ▼ 36.0% |
| Amounts payable within one year42/48 | €61,634 | €55,207 | €47,678 | €75,920 | €70,731 | €93,436 | €88,016 | €91,621 | ▲ 4.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €21,479 | €23,505 | €31,576 | €38,512 | €39,777 | ▲ 3.3% |
| Trade debts44 | €1,377 | €932 | €40 | €20,799 | €1,280 | €1,028 | €324 | €1,700 | ▲ 424% |
| Suppliers440/4 | - | - | - | €20,799 | €1,280 | €1,028 | €324 | €1,700 | ▲ 424% |
| Taxes, remuneration and social security45 | - | - | - | €9,254 | €13,631 | €22,772 | €26,187 | €27,791 | ▲ 6.1% |
| Taxes450/3 | - | - | - | €4,591 | €6,660 | €15,137 | €17,406 | €18,246 | ▲ 4.8% |
| Remuneration and social security454/9 | - | - | - | €4,663 | €6,970 | €7,635 | €8,781 | €9,545 | ▲ 8.7% |
| Other amounts payable47/48 | - | - | - | €24,388 | €32,315 | €38,061 | €22,992 | €22,353 | ▼ 2.8% |
| Accrued charges and deferred income492/3 | - | - | - | €879 | €438 | €1,159 | €557 | €298 | ▼ 46.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2 | €1,095 | €11,559 | €4,468 | €6,275 | €21,453 | €22,361 | €22,665 | ▲ 1.4% |
| + Depreciation and write-downs630 | €21,152 | €20,753 | €21,885 | €21,857 | €25,484 | €28,857 | €31,515 | €36,471 | ▲ 15.7% |
| Operating cash flow (approximation) | €21,154 | €21,848 | €33,444 | €26,325 | €31,759 | €50,311 | €53,876 | €59,136 | ▲ 9.8% |
| Investment in fixed assets (approximation) | - | -€39,599 | -€1,431 | -€27,942 | -€14,916 | -€71,918 | -€65,754 | -€3,450 | ▲ 94.8% |
| Change in cash | - | -€23,469 | €10,725 | -€14,422 | €4,580 | €3,806 | €11,391 | €8,268 | ▼ 27.4% |
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 Webeau 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 Webeau 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 Webeau. 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 12 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 12-07-2026 | 2026-00282505 | |
| 31-12-2024 | micro format | 18-07-2025 | 2025-00283232 | |
| 31-12-2023 | micro format | 26-08-2024 | 2024-00377144 | |
| 31-12-2022 | micro format | 06-08-2023 | 2023-00319591 | |
| 31-12-2021 | micro format | 21-07-2022 | 2022-20209667 | |
| 31-12-2020 | micro format | 28-08-2021 | 2021-59200518 | |
| 31-12-2019 | micro format | 22-07-2020 | 2020-32800197 | |
| 31-12-2018 | micro format | 23-08-2019 | 2019-50200350 | |
| 31-12-2017 | micro format | 07-07-2018 | 2018-30800086 | |
| 31-12-2016 | micro format | 19-06-2017 | 2017-19600581 |