YBLV
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 06-03-2026 PDF all 14 filings
Turnover
≈ €170,000
Estimated: probably between €130,000 and €230,000
Total assets
€696,706▲ 13.3%
2024 · €614,891
Net result
€234,599▲ 43.1%
2024 · €163,963
Working capital
€598,085▲ 7.0%
2024 · €559,023
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€77,098
▼ 11.6%
2025
20182025
Net result
€234,599
▲ 43.1%
2025
highest quarter of the sector
20182025
Equity
€632,419
▲ 6.8%
2025
highest quarter of the sector
20182025
Total assets
€696,706
▲ 13.3%
2025
highest quarter of the sector
20182025
Debt
€64,287
▲ 185%
2025
20182025
Working capital
€598,085
▲ 7.0%
2025
highest quarter of the sector
20182025
Solvency
90.8%
▼ 5.6pp
2025
highest quarter of the sector
20182025
Current ratio
10.30
▼ 15.51
2025
highest quarter of the sector
20182025
Return on assets (ROA)
33.7%
▲ 7.0pp
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€67,624-€85,741▲ 26.8%€174,908▲ 104%€50,033▼ 71.4%€55,043▲ 10.0%€54,159▼ 1.6%€87,205▲ 61.0%€77,098▼ 11.6%
Net result€86,875-€106,837▲ 23.0%€235,202above the sector's middle half▲ 120%€32,499within the sector's middle half▼ 86.2%€124,066above the sector's middle half▲ 282%€95,295above the sector's middle half▼ 23.2%€163,963above the sector's middle half▲ 72.1%€234,599above the sector's middle half▲ 43.1%
Equity€352,125-€458,962▲ 30.3%€428,243above the sector's middle half▼ 6.7%€460,742above the sector's middle half▲ 7.6%€491,636above the sector's middle half▲ 6.7%€515,269above the sector's middle half▲ 4.8%€592,358above the sector's middle half▲ 15.0%€632,419above the sector's middle half▲ 6.8%
Total assets€762,175-€790,981▲ 3.8%€791,180above the sector's middle half=€561,952above the sector's middle half▼ 29.0%€576,650above the sector's middle half▲ 2.6%€621,449above the sector's middle half▲ 7.8%€614,891above the sector's middle half▼ 1.1%€696,706above the sector's middle half▲ 13.3%
Debt€410,050-€332,019▼ 19.0%€362,937▲ 9.3%€101,210▼ 72.1%€85,015▼ 16.0%€106,180▲ 24.9%€22,534▼ 78.8%€64,287▲ 185%
Working capital-€3,782-€50,077€371,549above the sector's middle half▲ 642%€447,160above the sector's middle half▲ 20.4%€438,117above the sector's middle half▼ 2.0%€465,419above the sector's middle half▲ 6.2%€559,023above the sector's middle half▲ 20.1%€598,085above the sector's middle half▲ 7.0%
Solvency46.2%-58.0%▲ 11.8pp54.1%within the sector's middle half▼ 3.9pp82.0%above the sector's middle half▲ 27.9pp85.3%above the sector's middle half▲ 3.3pp82.9%above the sector's middle half▼ 2.3pp96.3%above the sector's middle half▲ 13.4pp90.8%above the sector's middle half▼ 5.6pp
Current ratio0.97-1.40▲ 0.432.17within the sector's middle half▲ 0.7719.48above the sector's middle half▲ 17.317.67above the sector's middle half▼ 11.815.67above the sector's middle half▼ 2.0025.81above the sector's middle half▲ 20.1410.30above the sector's middle half▼ 15.51
Return on assets (ROA)11.4%-13.5%▲ 2.1pp29.7%above the sector's middle half▲ 16.2pp5.8%within the sector's middle half▼ 23.9pp21.5%within the sector's middle half▲ 15.7pp15.3%within the sector's middle half▼ 6.2pp26.7%within the sector's middle half▲ 11.3pp33.7%within the sector's middle half▲ 7.0pp
above
within
below
The sector band is the middle half of the companies in Legal and accounting activities (NACE 69). 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 12% 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.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €696,706
Fixed assets
€34,334 ▲ 3.0%
Current assets
€662,372 ▲ 13.9%
Equity and liabilities €696,706
Equity
€632,419 ▲ 6.8%
Debt
€64,287 ▲ 185%
Debt's share of the balance-sheet total rises from 3.7% to 9.2%. Equity and debt are higher.
Key figures and ratios
EBITDA
€80,607▼
2024 · €90,788
Cash flow
€238,108▲
2024 · €167,546
Debt to equity
0.10▲
2024 · 0.04
ROE
37.1%▲
2024 · 27.7%
Interest coverage
over 100▲
2024 · 99.56
Debt ≤ 1 year
€64,287▲
2024 · €22,534
Income taxes
€41,565▲
2024 · €34,319
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 | €8,045 | - | €1,479 | €1,085 | €4,509 |
| Depreciation and write-downs of the year | €18,531 | €17,771 | €17,534 | €3,583 | €3,509 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
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 | €6,579 | €6,580 | €10,050 | €18,531 | €17,771 | €17,534 | €3,583 | €3,509 | ▼ 2.1% |
| Other operating charges640/8 | - | - | - | €959 | €1,154 | €1,309 | €603 | €394 | ▼ 34.7% |
| Gross operating margin9900 | €75,563 | €93,413 | €196,605 | €69,524 | €73,968 | €73,002 | €91,390 | €81,000 | ▼ 11.4% |
| Operating profit (loss)9901 | €67,624 | €85,741 | €174,908 | €50,033 | €55,043 | €54,159 | €87,205 | €77,098 | ▼ 11.6% |
| Financial income75/76B | - | - | - | €2,006 | €97,018 | €66,560 | €111,989 | €199,729 | ▲ 78.3% |
| Recurring financial income75 | €54,344 | €64,241 | €85,320 | €2,006 | €97,018 | €66,560 | €111,989 | €199,729 | ▲ 78.3% |
| Financial charges65/66B | - | - | - | €2,689 | €1,259 | €1,335 | €912 | €662 | ▼ 27.4% |
| Recurring financial charges65 | €3,979 | €5,386 | €7,882 | €2,689 | €1,259 | €1,335 | €912 | €662 | ▼ 27.4% |
| Profit (loss) for the period before taxes9903 | €117,989 | €144,595 | €252,346 | €49,351 | €150,802 | €119,384 | €198,282 | €276,164 | ▲ 39.3% |
| Income taxes67/77 | €31,114 | €37,759 | €17,144 | €16,852 | €26,736 | €24,090 | €34,319 | €41,565 | ▲ 21.1% |
| Profit (loss) for the period9904 | €86,875 | €106,837 | €235,202 | €32,499 | €124,066 | €95,295 | €163,963 | €234,599 | ▲ 43.1% |
| Profit (loss) for the period to be appropriated9905 | €86,875 | €106,837 | €235,202 | €32,499 | €124,066 | €95,295 | €163,963 | €234,599 | ▲ 43.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €762,175 | €790,981 | €791,180 | €561,952 | €576,650 | €621,449 | €614,891 | €696,706 | ▲ 13.3% |
| Fixed assets21/28 | €648,439 | €615,157 | €101,079 | €90,592 | €72,821 | €56,332 | €33,334 | €34,334 | ▲ 3.0% |
| Tangible fixed assets22/27 | €23,285 | €16,706 | €74,520 | €64,033 | €46,262 | €30,207 | €7,209 | €8,209 | ▲ 13.9% |
| Plant, machinery and equipment23 | - | - | - | €12,283 | €9,862 | €7,440 | €5,840 | €3,409 | ▼ 41.6% |
| Furniture and vehicles24 | - | - | - | €51,750 | €36,400 | €22,767 | €1,369 | €4,800 | ▲ 251% |
| Financial fixed assets28 | €625,154 | €598,451 | €26,559 | €26,559 | €26,559 | €26,125 | €26,125 | €26,125 | = |
| Current assets29/58 | €113,736 | €175,825 | €690,102 | €471,360 | €503,830 | €565,118 | €581,557 | €662,372 | ▲ 13.9% |
| Amounts receivable after more than one year29 | - | - | - | - | €200,000 | €180,000 | €160,000 | €140,000 | ▼ 12.5% |
| Other amounts receivable291 | - | - | - | - | €200,000 | €180,000 | €160,000 | €140,000 | ▼ 12.5% |
| Amounts receivable within one year40/41 | €65,542 | €46,836 | €230,358 | €188,759 | €204,727 | €218,274 | €222,594 | €236,481 | ▲ 6.2% |
| Trade receivables40 | - | - | - | - | - | €15,087 | €15,842 | €29,774 | ▲ 87.9% |
| Other amounts receivable41 | - | - | - | €188,759 | €204,727 | €203,187 | €206,753 | €206,707 | = |
| Current investments50/53 | - | - | - | - | - | €75,050 | €85,000 | €150,000 | ▲ 76.5% |
| Cash at bank and in hand54/58 | €48,194 | €128,989 | €459,743 | €277,601 | €99,103 | €91,793 | €113,962 | €135,649 | ▲ 19.0% |
| Deferred charges and accrued income490/1 | - | - | - | €5,000 | - | - | - | €242 | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €762,175 | €790,981 | €791,180 | €561,952 | €576,650 | €621,449 | €614,891 | €696,706 | ▲ 13.3% |
| Equity10/15 | €352,125 | €458,962 | €428,243 | €460,742 | €491,636 | €515,269 | €592,358 | €632,419 | ▲ 6.8% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €339,725 | €446,562 | €415,843 | €448,342 | €479,236 | €502,869 | €579,958 | €620,019 | ▲ 6.9% |
| 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 | - | - | - | €446,482 | €477,376 | €501,009 | €578,098 | €618,159 | ▲ 6.9% |
| Amounts payable17/49 | €410,050 | €332,019 | €362,937 | €101,210 | €85,015 | €106,180 | €22,534 | €64,287 | ▲ 185% |
| Amounts payable after more than one year17 | €292,532 | €206,272 | €44,385 | €77,010 | €19,302 | €6,481 | - | - | - |
| Financial debts170/4 | - | - | - | €77,010 | €19,302 | €6,481 | - | - | - |
| Amounts payable within one year42/48 | €117,518 | €125,747 | €318,552 | €24,200 | €65,713 | €99,699 | €22,534 | €64,287 | ▲ 185% |
| Current portion of amounts payable after more than one year42 | - | - | - | €12,449 | €30,576 | €12,821 | €6,481 | €6,115 | ▼ 5.7% |
| Trade debts44 | €1,701 | - | €897 | €448 | €868 | €620 | €767 | €1,747 | ▲ 128% |
| Suppliers440/4 | - | - | - | €448 | €868 | €620 | €767 | €1,747 | ▲ 128% |
| Taxes, remuneration and social security45 | - | - | - | €10,238 | €26,268 | €19,742 | €15,286 | €34,852 | ▲ 128% |
| Taxes450/3 | - | - | - | €10,238 | €26,268 | €19,742 | €15,286 | €31,682 | ▲ 107% |
| Remuneration and social security454/9 | - | - | - | - | - | - | - | €3,169 | - |
| Other amounts payable47/48 | - | - | - | €1,064 | €8,000 | €66,516 | - | €21,573 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €86,875 | €106,837 | €235,202 | €32,499 | €124,066 | €95,295 | €163,963 | €234,599 | ▲ 43.1% |
| + Depreciation and write-downs630 | €6,579 | €6,580 | €10,050 | €18,531 | €17,771 | €17,534 | €3,583 | €3,509 | ▼ 2.1% |
| Operating cash flow (approximation) | €93,454 | €113,416 | €245,252 | €51,030 | €141,837 | €112,829 | €167,546 | €238,108 | ▲ 42.1% |
| Investment in fixed assets (approximation) | - | €26,703 | €504,028 | -€8,045 | €0 | -€1,045 | €19,414 | -€4,509 | - |
| Change in cash | - | €80,795 | €330,754 | -€182,142 | -€178,498 | -€7,309 | €22,169 | €21,686 | ▼ 2.2% |
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, 17,811 companies had the same profile as YBLV has now. Two years later, 96.5% were still going and 0.3% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
96.5%
was still going
3.1%
stopped otherwise
0.3%
went bankrupt
That fits the bankruptcy probability of YBLV 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 17,811 companies, not a prediction for YBLV. 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 14 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 06-03-2026 | 2026-00051013 | |
| 31-12-2024 | micro format | 17-03-2025 | 2025-00050659 | |
| 31-12-2023 | micro format | 03-06-2024 | 2024-00106399 | |
| 31-12-2022 | micro format | 24-03-2023 | 2023-00044732 | |
| 31-12-2021 | micro format | 26-08-2022 | 2022-20324388 | |
| 31-12-2020 | micro format | 30-08-2021 | 2021-59700094 | |
| 31-12-2019 | micro format | 01-07-2020 | 2020-24100176 | |
| 31-12-2018 | micro format | 29-08-2019 | 2019-56700112 | |
| 31-12-2017 | micro format | 20-07-2018 | 2018-35400174 | |
| 31-12-2016 | micro format | 04-07-2017 | 2017-26500046 |