WS
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 19-06-2026 at the NBB all 2 filings
Every figure per financial year
The operating result for 2025 is 21% lower than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 2024 | 2025 |
|---|---|---|
| Tangible fixed assets | €18,825 | - |
| Financial fixed assets | - | €0 |
| Depreciation and write-downs of the year | €538 | €6,275 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €635 awarded · €635 paid| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €538 | €6,275 | ▲ 12× |
| Other operating charges640/8 | €659 | €527 | ▼ 20.0% |
| Gross operating margin9900 | €43,446 | €40,170 | ▼ 7.5% |
| Operating profit (loss)9901 | €42,249 | €33,367 | ▼ 21.0% |
| Financial charges65/66B | €4 | €186 | ▲ 50× |
| Recurring financial charges65 | €4 | €186 | ▲ 50× |
| Profit (loss) for the period before taxes9903 | €42,245 | €33,181 | ▼ 21.5% |
| Income taxes67/77 | €8,526 | €7,471 | ▼ 12.4% |
| Profit (loss) for the period9904 | €33,720 | €25,711 | ▼ 23.8% |
| Profit (loss) for the period to be appropriated9905 | €33,720 | €25,711 | ▼ 23.8% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €64,367 | €82,291 | ▲ 27.8% |
| Fixed assets21/28 | €18,288 | €12,013 | ▼ 34.3% |
| Tangible fixed assets22/27 | €18,288 | €12,013 | ▼ 34.3% |
| Furniture and vehicles24 | €18,288 | €12,013 | ▼ 34.3% |
| Current assets29/58 | €46,079 | €70,278 | ▲ 52.5% |
| Amounts receivable within one year40/41 | €7,057 | €9,548 | ▲ 35.3% |
| Trade receivables40 | €7,057 | €9,519 | ▲ 34.9% |
| Other amounts receivable41 | - | €29 | - |
| Cash at bank and in hand54/58 | €37,998 | €59,703 | ▲ 57.1% |
| Deferred charges and accrued income490/1 | €1,024 | €1,026 | ▲ 0.2% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €64,367 | €82,291 | ▲ 27.8% |
| Equity10/15 | €34,720 | €60,430 | ▲ 74.1% |
| Contributions10/11 | €1,000 | €1,000 | = |
| Reserves13 | €33,720 | €59,430 | ▲ 76.2% |
| Distributable reserves133 | €33,720 | €59,430 | ▲ 76.2% |
| Amounts payable17/49 | €29,647 | €21,860 | ▼ 26.3% |
| Amounts payable within one year42/48 | €29,647 | €21,860 | ▼ 26.3% |
| Trade debts44 | €67 | €926 | ▲ 14× |
| Suppliers440/4 | €67 | €926 | ▲ 14× |
| Taxes, remuneration and social security45 | €24,099 | €20,903 | ▼ 13.3% |
| Taxes450/3 | €24,099 | €20,903 | ▼ 13.3% |
| Other amounts payable47/48 | €5,481 | €32 | ▼ 99.4% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €33,720 | €25,711 | ▼ 23.8% |
| + Depreciation and write-downs630 | €538 | €6,275 | ▲ 12× |
| Operating cash flow (approximation) | €34,257 | €31,986 | ▼ 6.6% |
| Investment in fixed assets (approximation) | - | €0 | - |
| Change in cash | - | €21,706 | - |
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, 11,279 companies had the same profile as WS has now. Two years later, 96.6% were still going and 0.7% had gone bankrupt.
- Micro
- under 2 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of WS 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 11,279 companies, not a prediction for WS. 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.