Wisebox
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 09-05-2026 PDF all 8 filings
Turnover
≈ €130,000
Estimated: probably between €77,000 and €180,000
Total assets
€611,801▲ 4.2%
2024 · €587,018
Net result
€33,214▼ 29.6%
2024 · €47,150
Working capital
€579,063▲ 6.6%
2024 · €543,222
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€36,005
▼ 33.4%
2025
20182025
Net result
€33,214
▼ 29.6%
2025
middle half of the sector
20182025
Equity
€587,219
▲ 4.9%
2025
highest quarter of the sector
20182025
Total assets
€611,801
▲ 4.2%
2025
highest quarter of the sector
20182025
Debt
€24,582
▼ 10.4%
2025
20182025
Working capital
€579,063
▲ 6.6%
2025
highest quarter of the sector
20182025
Solvency
96.0%
▲ 0.7pp
2025
highest quarter of the sector
20182025
Current ratio
24.57
▲ 3.68
2025
highest quarter of the sector
20182025
Return on assets (ROA)
5.4%
▼ 2.6pp
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€160,835-€127,201▼ 20.9%€100,291▼ 21.2%€129,688▲ 29.3%€119,060▼ 8.2%€93,839▼ 21.2%€54,075▼ 42.4%€36,005▼ 33.4%
Net result€110,699-€88,875▼ 19.7%€72,663above the sector's middle half▼ 18.2%€91,566above the sector's middle half▲ 26.0%€82,084above the sector's middle half▼ 10.4%€70,468above the sector's middle half▼ 14.2%€47,150within the sector's middle half▼ 33.1%€33,214within the sector's middle half▼ 29.6%
Equity€116,899-€205,773▲ 76.0%€278,436above the sector's middle half▲ 35.3%€368,402above the sector's middle half▲ 32.3%€448,886above the sector's middle half▲ 21.8%€517,689above the sector's middle half▲ 15.3%€559,571above the sector's middle half▲ 8.1%€587,219above the sector's middle half▲ 4.9%
Total assets€153,423-€222,886▲ 45.3%€303,414within the sector's middle half▲ 36.1%€391,159within the sector's middle half▲ 28.9%€472,344within the sector's middle half▲ 20.8%€553,811above the sector's middle half▲ 17.2%€587,018above the sector's middle half▲ 6.0%€611,801above the sector's middle half▲ 4.2%
Debt€36,524-€17,113▼ 53.1%€24,978▲ 46.0%€22,757▼ 8.9%€23,457▲ 3.1%€36,122▲ 54.0%€27,447▼ 24.0%€24,582▼ 10.4%
Working capital€116,578-€204,830▲ 75.7%€274,563above the sector's middle half▲ 34.0%€334,207above the sector's middle half▲ 21.7%€410,706above the sector's middle half▲ 22.9%€494,617above the sector's middle half▲ 20.4%€543,222above the sector's middle half▲ 9.8%€579,063above the sector's middle half▲ 6.6%
Solvency76.2%-92.3%▲ 16.1pp91.8%above the sector's middle half▼ 0.6pp94.2%above the sector's middle half▲ 2.4pp95.0%above the sector's middle half▲ 0.9pp93.5%above the sector's middle half▼ 1.6pp95.3%above the sector's middle half▲ 1.8pp96.0%above the sector's middle half▲ 0.7pp
Current ratio4.20-12.97▲ 8.7712.03above the sector's middle half▼ 0.9415.69above the sector's middle half▲ 3.6618.51above the sector's middle half▲ 2.8214.78above the sector's middle half▼ 3.7320.88above the sector's middle half▲ 6.1024.57above the sector's middle half▲ 3.68
Return on assets (ROA)72.2%-39.9%▼ 32.3pp23.9%within the sector's middle half▼ 15.9pp23.4%within the sector's middle half▼ 0.5pp17.4%within the sector's middle half▼ 6.0pp12.7%within the sector's middle half▼ 4.7pp8.0%within the sector's middle half▼ 4.7pp5.4%within the sector's middle half▼ 2.6pp
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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 33% lower than in 2024 and the lowest since 2021. It is the fourth fall 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 €611,801
Fixed assets
€8,166 ▼ 50.4%
Current assets
€603,635 ▲ 5.8%
Equity and liabilities €611,801
Equity
€587,219 ▲ 4.9%
Debt
€24,582 ▼ 10.4%
Debt's share of the balance-sheet total falls from 4.7% to 4.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€44,313▼
2024 · €62,485
Cash flow
€41,523▼
2024 · €55,560
Debt to equity
0.04▼
2024 · 0.05
ROE
5.7%▼
2024 · 8.4%
Interest coverage
42.46▼
2024 · over 100
Debt ≤ 1 year
€24,573▼
2024 · €27,322
Income taxes
€11,471▼
2024 · €16,771
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 |
|---|---|---|---|---|---|
| Tangible fixed assets | €31,825 | €12,455 | €1,113 | €1,587 | - |
| Depreciation and write-downs of the year | €1,578 | €8,470 | €8,222 | €8,410 | €8,308 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 3 entries · €353 awarded · €353 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €135 | €135 |
| 2024 | 1 | €116 | €116 |
| 2022 | 1 | €102 | €102 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €203 | €388 | €560 | €1,578 | €8,470 | €8,222 | €8,410 | €8,308 | ▼ 1.2% |
| Other operating charges640/8 | - | - | - | €532 | €1,055 | €692 | €873 | €897 | ▲ 2.7% |
| Gross operating margin9900 | €161,038 | €127,787 | €101,126 | €131,798 | €128,585 | €102,753 | €63,359 | €45,210 | ▼ 28.6% |
| Operating profit (loss)9901 | €160,835 | €127,201 | €100,291 | €129,688 | €119,060 | €93,839 | €54,075 | €36,005 | ▼ 33.4% |
| Financial income75/76B | - | - | - | - | €107 | €2,759 | €9,998 | €9,725 | ▼ 2.7% |
| Recurring financial income75 | €0 | €84 | €0 | - | €107 | €2,759 | €9,998 | €9,725 | ▼ 2.7% |
| Financial charges65/66B | - | - | - | €452 | €2,661 | -€376 | €152 | €1,044 | ▲ 587% |
| Recurring financial charges65 | €265 | €671 | €564 | €452 | €2,661 | -€376 | €152 | €1,044 | ▲ 587% |
| Profit (loss) for the period before taxes9903 | €160,570 | €126,615 | €99,727 | €129,235 | €116,507 | €96,975 | €63,921 | €44,686 | ▼ 30.1% |
| Income taxes67/77 | €49,872 | €37,740 | €27,064 | €37,669 | €34,423 | €26,506 | €16,771 | €11,471 | ▼ 31.6% |
| Profit (loss) for the period9904 | €110,699 | €88,875 | €72,663 | €91,566 | €82,084 | €70,468 | €47,150 | €33,214 | ▼ 29.6% |
| Profit (loss) for the period to be appropriated9905 | €110,699 | €88,875 | €72,663 | €91,566 | €82,084 | €70,468 | €47,150 | €33,214 | ▼ 29.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €153,423 | €222,886 | €303,414 | €391,159 | €472,344 | €553,811 | €587,018 | €611,801 | ▲ 4.2% |
| Fixed assets21/28 | €406 | €943 | €3,948 | €34,195 | €38,180 | €23,298 | €16,474 | €8,166 | ▼ 50.4% |
| Tangible fixed assets22/27 | €406 | €943 | €3,948 | €34,195 | €38,180 | €23,298 | €16,474 | €8,166 | ▼ 50.4% |
| Plant, machinery and equipment23 | - | - | - | €3,050 | €5,627 | €4,014 | €2,587 | €1,333 | ▼ 48.5% |
| Furniture and vehicles24 | - | - | - | €31,145 | €32,554 | €19,283 | €13,887 | €6,833 | ▼ 50.8% |
| Current assets29/58 | €153,017 | €221,943 | €299,465 | €356,964 | €434,163 | €530,514 | €570,544 | €603,635 | ▲ 5.8% |
| Amounts receivable within one year40/41 | - | €21,591 | - | €23,940 | €15,125 | €34,243 | €15,125 | - | - |
| Trade receivables40 | - | - | - | €23,940 | €15,125 | €34,243 | €15,125 | - | - |
| Current investments50/53 | €121,184 | €188,739 | €228,732 | €308,720 | €388,972 | €461,296 | €513,690 | €579,483 | ▲ 12.8% |
| Cash at bank and in hand54/58 | €30,266 | €7,692 | €69,586 | €21,061 | €28,084 | €30,804 | €37,293 | €16,613 | ▼ 55.5% |
| Deferred charges and accrued income490/1 | - | - | - | €3,242 | €1,982 | €4,170 | €4,436 | €7,539 | ▲ 69.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €153,423 | €222,886 | €303,414 | €391,159 | €472,344 | €553,811 | €587,018 | €611,801 | ▲ 4.2% |
| Equity10/15 | €116,899 | €205,773 | €278,436 | €368,402 | €448,886 | €517,689 | €559,571 | €587,219 | ▲ 4.9% |
| Contributions10/11 | €6,200 | - | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €110,699 | €199,573 | €272,236 | €362,202 | €442,686 | €511,489 | €553,371 | €581,019 | ▲ 5.0% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €360,342 | €440,826 | €509,629 | €551,511 | €579,159 | ▲ 5.0% |
| Amounts payable17/49 | €36,524 | €17,113 | €24,978 | €22,757 | €23,457 | €36,122 | €27,447 | €24,582 | ▼ 10.4% |
| Amounts payable within one year42/48 | €36,440 | €17,113 | €24,903 | €22,757 | €23,457 | €35,896 | €27,322 | €24,573 | ▼ 10.1% |
| Trade debts44 | €2,583 | €2,983 | €1,416 | €2,169 | €5,101 | €3,424 | €3,262 | €2,450 | ▼ 24.9% |
| Suppliers440/4 | - | - | - | €2,169 | €5,101 | €3,424 | €3,262 | €2,450 | ▼ 24.9% |
| Taxes, remuneration and social security45 | - | - | - | €12,509 | €8,684 | €22,735 | €8,517 | €5,755 | ▼ 32.4% |
| Taxes450/3 | - | - | - | €12,509 | €8,684 | €19,974 | €8,517 | €5,755 | ▼ 32.4% |
| Remuneration and social security454/9 | - | - | - | - | - | €2,761 | - | - | - |
| Other amounts payable47/48 | - | - | - | €8,079 | €9,672 | €9,738 | €15,543 | €16,368 | ▲ 5.3% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €226 | €126 | €10 | ▼ 92.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €110,699 | €88,875 | €72,663 | €91,566 | €82,084 | €70,468 | €47,150 | €33,214 | ▼ 29.6% |
| + Depreciation and write-downs630 | €203 | €388 | €560 | €1,578 | €8,470 | €8,222 | €8,410 | €8,308 | ▼ 1.2% |
| Operating cash flow (approximation) | €110,901 | €89,263 | €73,223 | €93,144 | €90,555 | €78,691 | €55,560 | €41,523 | ▼ 25.3% |
| Investment in fixed assets (approximation) | - | -€925 | -€3,565 | -€31,825 | -€12,455 | €6,660 | -€1,587 | €0 | - |
| Change in cash | - | -€22,574 | €61,894 | -€48,525 | €7,023 | €2,720 | €6,488 | -€20,680 | - |
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, 6,782 companies had the same profile as Wisebox has now. Two years later, 96.7% were still going and 0.6% had gone bankrupt.
- Small
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
96.7%
was still going
2.7%
stopped otherwise
0.6%
went bankrupt
That fits the bankruptcy probability of Wisebox 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 6,782 companies, not a prediction for Wisebox. 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 |
|---|---|---|---|---|
| 31-12-2025 | micro format | 09-05-2026 | 2026-00111316 | |
| 31-12-2024 | micro format | 19-06-2025 | 2025-00154391 | |
| 31-12-2023 | micro format | 06-06-2024 | 2024-00121890 | |
| 31-12-2022 | micro format | 07-06-2023 | 2023-00123477 | |
| 31-12-2021 | micro format | 28-06-2022 | 2022-20105494 | |
| 31-12-2020 | micro format | 21-05-2021 | 2021-15000067 | |
| 31-12-2019 | micro format | 12-06-2020 | 2020-16700104 | |
| 31-12-2018 | micro format | 21-05-2019 | 2019-14300004 |