WORK IT MAKE IT
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 16-03-2026 PDF all 5 filings
Turnover
≈ €240,000
Estimated: probably between €130,000 and €400,000
Total assets
€70,023▼ 35.3%
2024 · €108,186
Net result
€16,090▼ 34.6%
2024 · €24,594
Working capital
-€3,146
2024 · €24,385
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€22,154
▼ 30.1%
2025
20212025
Net result
€16,090
▼ 34.6%
2025
middle half of the sector
20212025
Equity
€5,556
▼ 84.3%
2025
middle half of the sector
20212025
Total assets
€70,023
▼ 35.3%
2025
middle half of the sector
20212025
Debt
€64,467
▼ 11.3%
2025
20212025
Working capital
-€3,146
2025
middle half of the sector
20212025
Solvency
7.9%
▼ 24.8pp
2025
middle half of the sector
20212025
Current ratio
0.95
▼ 0.38
2025
middle half of the sector
20212025
Return on assets (ROA)
23.0%
▲ 0.2pp
2025
highest quarter of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result€39,884-€25,547▼ 35.9%€27,522▲ 7.7%€31,677▲ 15.1%€22,154▼ 30.1%
Net result€31,565above the sector's middle half-€19,934within the sector's middle half▼ 36.8%€21,038above the sector's middle half▲ 5.5%€24,594above the sector's middle half▲ 16.9%€16,090within the sector's middle half▼ 34.6%
Equity€36,565within the sector's middle half-€56,499within the sector's middle half▲ 54.5%€75,872within the sector's middle half▲ 34.3%€35,465within the sector's middle half▼ 53.3%€5,556within the sector's middle half▼ 84.3%
Total assets€63,443within the sector's middle half-€83,349within the sector's middle half▲ 31.4%€94,608within the sector's middle half▲ 13.5%€108,186within the sector's middle half▲ 14.4%€70,023within the sector's middle half▼ 35.3%
Debt€26,878-€26,850▼ 0.1%€18,736▼ 30.2%€72,721▲ 288%€64,467▼ 11.3%
Working capital€29,222within the sector's middle half-€56,766within the sector's middle half▲ 94.3%€63,288within the sector's middle half▲ 11.5%€24,385within the sector's middle half▼ 61.5%-€3,146within the sector's middle half
Solvency57.6%within the sector's middle half-67.8%above the sector's middle half▲ 10.2pp80.2%above the sector's middle half▲ 12.4pp32.8%within the sector's middle half▼ 47.4pp7.9%within the sector's middle half▼ 24.8pp
Current ratio2.09within the sector's middle half-3.73above the sector's middle half▲ 1.644.55above the sector's middle half▲ 0.821.34within the sector's middle half▼ 3.210.95within the sector's middle half▼ 0.38
Return on assets (ROA)49.8%above the sector's middle half-23.9%above the sector's middle half▼ 25.8pp22.2%above the sector's middle half▼ 1.7pp22.7%above the sector's middle half▲ 0.5pp23.0%above the sector's middle half▲ 0.2pp
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). 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 30% lower than in 2024 and the lowest since 2021.
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 €70,023
Fixed assets
€8,701 ▼ 21.5%
Current assets
€61,321 ▼ 36.9%
Equity and liabilities €70,023
Equity
€5,556 ▼ 84.3%
Debt
€64,467 ▼ 11.3%
Debt's share of the balance-sheet total rises from 67.2% to 92.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€24,533▼
2024 · €34,067
Cash flow
€18,469▼
2024 · €26,984
Debt to equity
11.60▲
2024 · 2.05
ROE
289.6%▲
2024 · 69.3%
Interest coverage
94.22▼
2024 · over 100
Debt ≤ 1 year
€64,467▼
2024 · €72,721
Income taxes
€5,803▼
2024 · €7,068
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 | €7,739 | - | €8,139 | - | - |
| Financial fixed assets | - | - | €2,000 | - | - |
| Depreciation and write-downs of the year | €396 | €1,572 | €2,440 | €2,390 | €2,379 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €396 | €1,572 | €2,440 | €2,390 | €2,379 | ▼ 0.5% |
| Other operating charges640/8 | €348 | €1,111 | €975 | €1,165 | €1,125 | ▼ 3.4% |
| Gross operating margin9900 | €40,628 | €28,230 | €30,937 | €35,232 | €25,658 | ▼ 27.2% |
| Operating profit (loss)9901 | €39,884 | €25,547 | €27,522 | €31,677 | €22,154 | ▼ 30.1% |
| Financial income75/76B | - | - | €3 | €63 | - | - |
| Recurring financial income75 | - | - | €3 | €63 | - | - |
| Financial charges65/66B | €88 | €40 | €69 | €79 | €260 | ▲ 229% |
| Recurring financial charges65 | €88 | €40 | €69 | €79 | €260 | ▲ 229% |
| Profit (loss) for the period before taxes9903 | €39,796 | €25,507 | €27,456 | €31,662 | €21,894 | ▼ 30.9% |
| Income taxes67/77 | €8,231 | €5,573 | €6,417 | €7,068 | €5,803 | ▼ 17.9% |
| Profit (loss) for the period9904 | €31,565 | €19,934 | €21,038 | €24,594 | €16,090 | ▼ 34.6% |
| Profit (loss) for the period to be appropriated9905 | €31,565 | €19,934 | €21,038 | €24,594 | €16,090 | ▼ 34.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €63,443 | €83,349 | €94,608 | €108,186 | €70,023 | ▼ 35.3% |
| Fixed assets21/28 | €7,343 | €5,771 | €13,470 | €11,080 | €8,701 | ▼ 21.5% |
| Tangible fixed assets22/27 | €7,343 | €5,771 | €11,470 | €9,080 | €6,701 | ▼ 26.2% |
| Furniture and vehicles24 | €7,343 | €5,771 | €7,670 | €5,280 | €2,901 | ▼ 45.1% |
| Other tangible fixed assets26 | - | - | €3,800 | €3,800 | €3,800 | = |
| Financial fixed assets28 | - | - | €2,000 | €2,000 | €2,000 | = |
| Current assets29/58 | €56,100 | €77,578 | €81,138 | €97,106 | €61,321 | ▼ 36.9% |
| Amounts receivable within one year40/41 | €15,791 | €20,588 | €16,532 | €2,645 | €26,778 | ▲ 912% |
| Trade receivables40 | €15,791 | €20,588 | €14,949 | €1,096 | €26,778 | ▲ 24× |
| Other amounts receivable41 | - | - | €1,583 | €1,549 | - | - |
| Cash at bank and in hand54/58 | €39,829 | €55,751 | €63,588 | €94,455 | €33,741 | ▼ 64.3% |
| Deferred charges and accrued income490/1 | €480 | €1,239 | €1,019 | €5 | €803 | ▲ 153× |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €63,443 | €83,349 | €94,608 | €108,186 | €70,023 | ▼ 35.3% |
| Equity10/15 | €36,565 | €56,499 | €75,872 | €35,465 | €5,556 | ▼ 84.3% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | €31,565 | €51,499 | €70,872 | €30,465 | €556 | ▼ 98.2% |
| Distributable reserves133 | €31,565 | €51,499 | €70,872 | €30,465 | €556 | ▼ 98.2% |
| Amounts payable17/49 | €26,878 | €26,850 | €18,736 | €72,721 | €64,467 | ▼ 11.3% |
| Amounts payable within one year42/48 | €26,878 | €20,812 | €17,850 | €72,721 | €64,467 | ▼ 11.3% |
| Trade debts44 | €6,386 | €2,125 | €3,229 | €1,320 | €285 | ▼ 78.4% |
| Suppliers440/4 | €6,386 | €2,125 | €3,229 | €1,320 | €285 | ▼ 78.4% |
| Taxes, remuneration and social security45 | €19,866 | €18,060 | €11,081 | €4,493 | €13,776 | ▲ 207% |
| Taxes450/3 | €17,526 | €15,540 | €11,081 | €4,493 | €13,776 | ▲ 207% |
| Remuneration and social security454/9 | €2,340 | €2,520 | - | - | - | - |
| Other amounts payable47/48 | €626 | €626 | €3,540 | €66,908 | €50,406 | ▼ 24.7% |
| Accrued charges and deferred income492/3 | - | €6,038 | €886 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €31,565 | €19,934 | €21,038 | €24,594 | €16,090 | ▼ 34.6% |
| + Depreciation and write-downs630 | €396 | €1,572 | €2,440 | €2,390 | €2,379 | ▼ 0.5% |
| Operating cash flow (approximation) | €31,961 | €21,506 | €23,479 | €26,984 | €18,469 | ▼ 31.6% |
| Investment in fixed assets (approximation) | - | €0 | -€10,139 | €0 | €0 | - |
| Change in cash | - | €15,922 | €7,837 | €30,867 | -€60,714 | - |
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, 2,153 companies had the same profile as WORK IT MAKE IT has now. Two years later, 96.1% were still going and 1.7% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
96.1%
was still going
2.2%
stopped otherwise
1.7%
went bankrupt
That fits the bankruptcy probability of WORK IT MAKE IT itself: 0.7% 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 2,153 companies, not a prediction for WORK IT MAKE IT. 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 (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 16-03-2026 | 2026-00055155 | |
| 31-12-2024 | micro format | 17-03-2025 | 2025-00049071 | |
| 31-12-2023 | micro format | 28-03-2024 | 2024-00051790 | |
| 31-12-2022 | micro format | 22-06-2023 | 2023-00152212 | |
| 31-12-2021 | micro format | 28-10-2022 | 2022-20479861 |