XVENT
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 12-03-2026 PDF all 22 filings
Turnover
≈ €440,000
Estimated: probably between €340,000 and €800,000
Total assets
€24.9m▼ 47.8%
2024 · €47.8m
Net result
€232,533▲ 12×
2024 · €19,786
Working capital
€10.5m▼ 49.5%
2024 · €20.7m
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€352,159
▼ 354%
2025
20192025
Net result
€232,533
▲ 12×
2025
highest quarter of the sector
20192025
Equity
€14.1m
▼ 61.5%
2025
highest quarter of the sector
20192025
Total assets
€24.9m
▼ 47.8%
2025
highest quarter of the sector
20192025
Debt
€10.8m
▼ 3.0%
2025
20192025
Working capital
€10.5m
▼ 49.5%
2025
highest quarter of the sector
20192025
Solvency
56.5%
▼ 20.1pp
2025
middle half of the sector
20192025
Current ratio
8.69
▼ 13.47
2025
highest quarter of the sector
20192025
Return on assets (ROA)
0.9%
▲ 0.9pp
2025
middle half of the sector
20192025
Staff (FTE)
0
▼ 100%
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€0.7m--€1.3m▼ 88.8%-€0.4m▲ 70.6%-€0.7m▼ 95.2%-€0.4m▲ 43.0%-€0.08m▲ 81.7%-€0.4m▼ 354%
Net result-€0.1m-€0.3mabove the sector's middle half€2.6mabove the sector's middle half▲ 701%€0.4mabove the sector's middle half▼ 83.3%€0.4mabove the sector's middle half▼ 4.3%€0.02mwithin the sector's middle half▼ 95.3%€0.2mabove the sector's middle half▲ 12×
Equity€34.4m-€34.1mabove the sector's middle half▼ 0.9%€36.2mabove the sector's middle half▲ 6.1%€36.4mabove the sector's middle half▲ 0.6%€36.6mabove the sector's middle half▲ 0.5%€36.6mabove the sector's middle half▲ 0.1%€14.1mabove the sector's middle half▼ 61.5%
Total assets€43.1m-€40.9mabove the sector's middle half▼ 5.2%€38.6mabove the sector's middle half▼ 5.5%€49.2mabove the sector's middle half▲ 27.5%€48.6mabove the sector's middle half▼ 1.4%€47.8mabove the sector's middle half▼ 1.6%€24.9mabove the sector's middle half▼ 47.8%
Debt€8.7m-€6.7m▼ 22.4%€2.4m▼ 64.8%€12.8m▲ 441%€11.9m▼ 6.7%€11.2m▼ 6.5%€10.8m▼ 3.0%
Working capital€6.7m-€4.4mabove the sector's middle half▼ 34.1%€6.7mabove the sector's middle half▲ 51.2%€20.0mabove the sector's middle half▲ 198%€20.1mabove the sector's middle half▲ 0.2%€20.7mabove the sector's middle half▲ 3.3%€10.5mabove the sector's middle half▼ 49.5%
Solvency79.9%-83.5%above the sector's middle half▲ 3.6pp93.8%above the sector's middle half▲ 10.3pp73.9%within the sector's middle half▼ 19.8pp75.3%within the sector's middle half▲ 1.4pp76.6%within the sector's middle half▲ 1.3pp56.5%within the sector's middle half▼ 20.1pp
Current ratio1.80-1.66within the sector's middle half▼ 0.144.01above the sector's middle half▲ 2.3518.20above the sector's middle half▲ 14.1821.21above the sector's middle half▲ 3.0222.16above the sector's middle half▲ 0.958.69above the sector's middle half▼ 13.47
Return on assets (ROA)-0.3%-0.8%within the sector's middle half▲ 1.1pp6.9%within the sector's middle half▲ 6.1pp0.9%within the sector's middle half▼ 6.0pp0.9%within the sector's middle half=0.0%below the sector's middle half▼ 0.8pp0.9%within the sector's middle half▲ 0.9pp
Staff (FTE)4.1-5.1within the sector's middle half▲ 24.4%4.9within the sector's middle half▼ 3.9%4.6within the sector's middle half▼ 6.1%3.2above the sector's middle half▼ 30.4%2.1within the sector's middle half▼ 34.4%0within the sector's middle half▼ 100%
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 a loss of €352,159, larger than the loss of €77,613 in 2024.
Large changes and their cause
- 2025 Net result +1,075%, Equity -62% on 2024. Partial demerger to Smappee Group, Official Gazette 04-06-2025.
Turnover and EBIT margin are not published. The abbreviated 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 €24.9m
Fixed assets
€13.1m ▼ 49.8%
Current assets
€11.8m ▼ 45.5%
Equity and liabilities €24.9m
Equity
€14.1m ▼ 61.5%
Debt
€10.8m ▼ 3.0%
Debt's share of the balance-sheet total rises from 23.4% to 43.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
€224,648▼
2024 · €571,300
Cash flow
€809,340▲
2024 · €668,698
Debt to equity
0.77▲
2024 · 0.30
ROE
1.7%▲
2024 · 0.1%
Interest coverage
0.89▼
2024 · 3.32
Debt ≤ 1 year
€1.4m▲
2024 · €979,255
Debt > 1 year
€9.2m▼
2024 · €10.0m
Income taxes
-€46,432▼
2024 · €824
Staff costs
€0▼
2024 · €228,628
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 |
|---|---|---|---|
| Employees at the balance-sheet date | 4 | 3 | 2 |
| full-time | 3 | 3 | 1 |
| part-time | 1 | 0 | 1 |
| in full-time equivalents | 3.8 | 3 | 1.8 |
| Average over the year, in full-time equivalents | 4.6 | 3.2 | 2.1 |
| On a permanent contract | 4 | 3 | 2 |
| Joined | 1 | 0 | 0 |
| Left | 2 | 1 | 1 |
| Training hours | - | 16 | - |
Source: social balance sheet in the 2022 to 2024 annual accounts
Securities and guarantees
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Debts secured on the company's own assets | €12.1m | €11.5m | €10.7m | €10.0m |
| Mortgages, amount registered | €25,000 | €25,000 | €250,000 | €25,000 |
| Mortgage mandates | €12.5m | €12.5m | €12.5m | €12.5m |
| Carrying value of the mortgaged assets | €9.5m | €9.3m | €9.0m | €8.7m |
| Pledge on other assets, amount secured | €3.0m | €3.0m | €3.0m | €3.0m |
| Carrying value of the other pledged assets | €3.0m | €3.0m | €3.0m | €3.0m |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €99,541 | €12,410 | €61,228 | €99,237 |
| Intangible fixed assets | - | - | €307,103 | €340,332 |
| Financial fixed assets | €500,000 | €473,474 | €239,894 | €386,267 |
| Depreciation and write-downs of the year | €788,254 | €730,662 | €648,912 | €576,807 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €0.3m | €0.3m | €0.2m | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.6m | €0.8m | €1.0m | €0.8m | €0.7m | €0.6m | €0.6m | ▼ 11.1% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | €0 | - | -€0.04m | €0 | - |
| Other operating charges640/8 | - | - | - | €0.07m | €0.2m | €0.05m | €0.06m | ▲ 27.7% |
| Gross operating margin9900 | €0.3m | -€0.2m | €1.1m | €0.4m | €0.8m | €0.8m | €0.3m | ▼ 64.4% |
| Operating profit (loss)9901 | -€0.7m | -€1.3m | -€0.4m | -€0.7m | -€0.4m | -€0.08m | -€0.4m | ▼ 354% |
| Financial income75/76B | - | - | - | €1.7m | €1.4m | €0.8m | €0.8m | ▲ 4.8% |
| Recurring financial income75 | €0.8m | €2.5m | €3.3m | €1.7m | €1.4m | €0.8m | €0.8m | ▲ 4.8% |
| Financial charges65/66B | - | - | - | €0.5m | €0.5m | €0.7m | €0.3m | ▼ 61.4% |
| Recurring financial charges65 | €0.3m | €0.9m | €0.4m | €0.5m | €0.5m | €0.2m | €0.3m | ▲ 47.5% |
| Non-recurring financial charges66B | - | - | - | - | - | €0.5m | €0 | ▼ 100% |
| Profit (loss) for the period before taxes9903 | -€0.1m | €0.3m | €2.6m | €0.4m | €0.5m | €0.02m | €0.2m | ▲ 803% |
| Income taxes67/77 | €0.001m | €0.001m | -€0.07m | €0.004m | €0.05m | €0.001m | -€0.05m | - |
| Profit (loss) for the period9904 | -€0.1m | €0.3m | €2.6m | €0.4m | €0.4m | €0.02m | €0.2m | ▲ 12× |
| Profit (loss) for the period to be appropriated9905 | -€0.1m | €0.3m | €2.6m | €0.4m | €0.4m | €0.02m | €0.2m | ▲ 12× |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €43.1m | €40.9m | €38.6m | €49.2m | €48.6m | €47.8m | €24.9m | ▼ 47.8% |
| Fixed assets21/28 | €27.9m | €29.7m | €29.7m | €28.1m | €27.5m | €26.1m | €13.1m | ▼ 49.8% |
| Intangible fixed assets21 | €0.2m | €0.3m | €0.2m | €0.1m | €0.01m | €0.3m | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €11.4m | €12.1m | €11.4m | €10.9m | €10.2m | €9.7m | €9.2m | ▼ 4.9% |
| Land and buildings22 | - | - | - | €9.5m | €9.3m | €9.0m | €8.7m | ▼ 3.0% |
| Plant, machinery and equipment23 | - | - | - | €1.0m | €0.7m | €0.5m | €0.2m | ▼ 54.5% |
| Furniture and vehicles24 | - | - | - | €0.2m | €0.08m | €0.05m | €0.06m | ▲ 36.2% |
| Other tangible fixed assets26 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Assets under construction and advance payments27 | - | - | - | - | - | - | €0.04m | - |
| Financial fixed assets28 | €16.3m | €17.3m | €18.0m | €17.1m | €17.3m | €16.1m | €3.9m | ▼ 75.9% |
| Current assets29/58 | €15.2m | €11.1m | €8.9m | €21.2m | €21.0m | €21.7m | €11.8m | ▼ 45.5% |
| Amounts receivable after more than one year29 | - | - | - | - | - | €0.07m | €0.07m | = |
| Other amounts receivable291 | - | - | - | - | - | €0.07m | €0.07m | = |
| Amounts receivable within one year40/41 | €1.3m | €1.4m | €2.3m | €7.1m | €3.6m | €3.8m | €1.1m | ▼ 71.8% |
| Trade receivables40 | - | - | - | €0.8m | €196 | €0.003m | €0.4m | ▲ 117× |
| Other amounts receivable41 | - | - | - | €6.3m | €3.6m | €3.8m | €0.7m | ▼ 81.5% |
| Current investments50/53 | €8.7m | €4.9m | €3.9m | €3.3m | €5.8m | €12.0m | €7.6m | ▼ 36.9% |
| Cash at bank and in hand54/58 | €5.0m | €4.8m | €2.7m | €10.7m | €11.5m | €5.8m | €3.1m | ▼ 46.7% |
| Deferred charges and accrued income490/1 | - | - | - | €0.2m | €0.1m | €0.09m | €0.04m | ▼ 49.7% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €43.1m | €40.9m | €38.6m | €49.2m | €48.6m | €47.8m | €24.9m | ▼ 47.8% |
| Equity10/15 | €34.4m | €34.1m | €36.2m | €36.4m | €36.6m | €36.6m | €14.1m | ▼ 61.5% |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.06m | ▼ 38.5% |
| Capital10 | - | - | - | €0.1m | €0.1m | €0.1m | €0.06m | ▼ 38.5% |
| Issued capital100 | - | - | - | €0.1m | €0.1m | €0.1m | €0.06m | ▼ 38.5% |
| Reserves13 | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | €0.3m | ▼ 64.8% |
| Non-distributable reserves130/1 | - | - | - | €0.6m | €0.6m | €0.6m | €0.2m | ▼ 61.7% |
| Legal reserve130 | - | - | - | €0.6m | €0.6m | €0.6m | €0.2m | ▼ 61.7% |
| Tax-exempt reserves132 | - | - | - | €0.07m | €0.07m | €0.07m | €0.03m | ▼ 61.7% |
| Distributable reserves133 | - | - | - | €0.1m | €0.1m | €0.1m | €0.02m | ▼ 84.5% |
| Profit (loss) carried forward14 | €31.9m | €32.2m | €34.9m | €35.3m | €35.7m | €35.8m | €13.8m | ▼ 61.5% |
| Investment grants15 | - | - | - | €0.2m | €0 | - | - | - |
| Provisions and deferred taxes16 | - | €0.02m | €0.04m | €0.04m | €0.04m | €0 | - | - |
| Provisions for liabilities and charges160/5 | - | - | - | €0.04m | €0.04m | €0 | - | - |
| Environmental obligations163 | - | - | - | €0.04m | €0.04m | €0 | - | - |
| Amounts payable17/49 | €8.7m | €6.7m | €2.4m | €12.8m | €11.9m | €11.2m | €10.8m | ▼ 3.0% |
| Amounts payable after more than one year17 | - | €0.003m | €0 | €11.4m | €10.7m | €10.0m | €9.2m | ▼ 7.7% |
| Financial debts170/4 | - | - | - | €11.4m | €10.7m | €10.0m | €9.2m | ▼ 7.7% |
| Amounts payable within one year42/48 | €8.4m | €6.7m | €2.2m | €1.2m | €1.0m | €1.0m | €1.4m | ▲ 38.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.7m | €0.7m | €0.8m | €0.8m | ▲ 2.1% |
| Financial debts43 | - | - | - | €0 | - | - | - | - |
| Credit institutions430/8 | - | - | - | €0 | - | - | - | - |
| Trade debts44 | €1.8m | €0.1m | €0.3m | €0.1m | €0.06m | €0.1m | €0.04m | ▼ 65.1% |
| Suppliers440/4 | - | - | - | €0.1m | €0.06m | €0.1m | €0.04m | ▼ 65.1% |
| Advances received on contracts in progress46 | - | - | - | - | €0.05m | €0.02m | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | - | €0.08m | €0.1m | €0.05m | €0.02m | ▼ 66.5% |
| Taxes450/3 | - | - | - | €0.02m | €0.06m | €0.01m | €0.02m | ▲ 49.1% |
| Remuneration and social security454/9 | - | - | - | €0.06m | €0.05m | €0.04m | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | €0.2m | €0.02m | €0.02m | €0.5m | ▲ 24× |
| Accrued charges and deferred income492/3 | - | - | - | €0.2m | €0.2m | €0.2m | €0.3m | ▲ 30.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.1m | €0.3m | €2.6m | €0.4m | €0.4m | €0.02m | €0.2m | ▲ 12× |
| + Depreciation and write-downs630 | €0.6m | €0.8m | €1.0m | €0.8m | €0.7m | €0.6m | €0.6m | ▼ 11.1% |
| Operating cash flow (approximation) | €0.5m | €1.1m | €3.7m | €1.2m | €1.2m | €0.7m | €0.8m | ▲ 21.0% |
| Investment in fixed assets (approximation) | - | -€2.5m | -€1.0m | €0.8m | -€0.2m | €0.8m | €12.4m | ▲ 15× |
| Change in cash | - | -€0.2m | -€2.2m | €8.0m | €0.8m | -€5.7m | -€2.7m | ▲ 52.8% |
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, 1,887 companies had the same profile as XVENT has now. Two years later, 97.9% were still going and 0.1% had gone bankrupt.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
97.9%
was still going
2.0%
stopped otherwise
0.1%
went bankrupt
That fits the bankruptcy probability of XVENT 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 1,887 companies, not a prediction for XVENT. 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 22 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 12-03-2026 | 2026-00054163 | |
| 30-09-2024 | abbreviated format | 18-04-2025 | 2025-00073080 | |
| 30-09-2023 | abbreviated format | 30-04-2024 | 2024-00082964 | |
| 30-09-2022 | abbreviated format | 03-04-2023 | 2023-00051999 | |
| 30-09-2021 | abbreviated format | 31-03-2022 | 2022-09900138 | |
| 30-09-2020 | abbreviated format | 01-04-2021 | 2021-09400315 | |
| 30-09-2019 | abbreviated format | 18-05-2020 | 2020-12300520 | |
| 30-09-2018 | abbreviated format | 26-04-2019 | 2019-11000364 | |
| 30-09-2017 | micro format | 16-05-2018 | 2018-12900496 | |
| 30-09-2016 | abbreviated format | 12-04-2017 | 2017-09500053 |