YDP
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 2 days after the deadline Filed on 2 February 2026, deadline 31 January 2026 (7 months after the close on 30 June 2025, Companies Code art. 3:10). Source: NBB, 2026-00031368.
Annual accounts 2025 filed on 02-02-2026 PDF all 5 filings
Equity
€4,710▼ 84.4%
2024 · €30,102
Total assets
€33,619▼ 28.0%
2024 · €46,662
Net result
-€25,392
2024 · €6,088
Working capital
€4,143▼ 80.1%
2024 · €20,838
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
-€18,694
2025
20212025
Net result
-€25,392
2025
lowest quarter of the sector
20212025
Equity
€4,710
▼ 84.4%
2025
lowest quarter of the sector
20212025
Total assets
€33,619
▼ 28.0%
2025
lowest quarter of the sector
20212025
Debt
€28,909
▲ 74.6%
2025
20212025
Working capital
€4,143
▼ 80.1%
2025
middle half of the sector
20212025
Solvency
14.0%
▼ 50.5pp
2025
lowest quarter of the sector
20212025
Current ratio
1.21
▼ 1.05
2025
middle half of the sector
20212025
Return on assets (ROA)
-75.5%
▼ 88.6pp
2025
lowest 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€28,473-€16,600▼ 41.7%-€7,339€73-€18,694
Net result€19,966within the sector's middle half-€11,424within the sector's middle half▼ 42.8%-€9,375below the sector's middle half€6,088within the sector's middle half-€25,392below the sector's middle half
Equity€21,966within the sector's middle half-€33,389within the sector's middle half▲ 52.0%€24,014within the sector's middle half▼ 28.1%€30,102within the sector's middle half▲ 25.4%€4,710below the sector's middle half▼ 84.4%
Total assets€44,936below the sector's middle half-€76,356within the sector's middle half▲ 69.9%€73,852within the sector's middle half▼ 3.3%€46,662below the sector's middle half▼ 36.8%€33,619below the sector's middle half▼ 28.0%
Debt€22,970-€42,967▲ 87.1%€49,838▲ 16.0%€16,560▼ 66.8%€28,909▲ 74.6%
Working capital€11,076within the sector's middle half-€25,162within the sector's middle half▲ 127%€17,772within the sector's middle half▼ 29.4%€20,838within the sector's middle half▲ 17.2%€4,143within the sector's middle half▼ 80.1%
Solvency48.9%within the sector's middle half-43.7%within the sector's middle half▼ 5.2pp32.5%within the sector's middle half▼ 11.2pp64.5%within the sector's middle half▲ 32.0pp14.0%below the sector's middle half▼ 50.5pp
Current ratio1.48within the sector's middle half-1.59within the sector's middle half▲ 0.101.42within the sector's middle half▼ 0.172.26within the sector's middle half▲ 0.841.21within the sector's middle half▼ 1.05
Return on assets (ROA)44.4%above the sector's middle half-15.0%within the sector's middle half▼ 29.5pp-12.7%below the sector's middle half▼ 27.7pp13.0%within the sector's middle half▲ 25.7pp-75.5%below the sector's middle half▼ 88.6pp
above
within
below
The sector band is the middle half of the companies in Specialised construction activities (NACE 43). 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 €18,694, after a profit of €73 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €33,619
Fixed assets
€9,902 ▲ 6.9%
Current assets
€23,716 ▼ 36.6%
Equity and liabilities €33,619
Equity
€4,710 ▼ 84.4%
Debt
€28,909 ▲ 74.6%
Debt's share of the balance-sheet total rises from 35.5% to 86.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€14,215▼
2024 · €4,634
Cash flow
-€20,912▼
2024 · €10,649
Debt to equity
6.14▲
2024 · 0.55
ROE
-539.1%▼
2024 · 20.2%
Interest coverage
-1.67▼
2024 · 0.68
Debt ≤ 1 year
€19,573▲
2024 · €16,560
Debt > 1 year
€9,336
Income taxes
€161▼
2024 · €1,941
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | €7,114 | €182 | €5,117 |
| Intangible fixed assets | - | €2,000 | - | - |
| Depreciation and write-downs of the year | €2,174 | €3,515 | €4,561 | €4,480 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €14,242 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €934 | €2,174 | €3,515 | €4,561 | €4,480 | ▼ 1.8% |
| Other operating charges640/8 | - | €557 | €1,906 | €1,934 | €2,248 | ▲ 16.2% |
| Non-recurring operating charges66A | - | €1,895 | €6,589 | - | €8,363 | - |
| Gross operating margin9900 | €29,508 | €21,227 | €4,671 | €6,568 | -€3,603 | - |
| Operating profit (loss)9901 | €28,473 | €16,600 | -€7,339 | €73 | -€18,694 | - |
| Financial income75/76B | - | - | €15 | €14,770 | €1,969 | ▼ 86.7% |
| Recurring financial income75 | - | - | €15 | €14,770 | €1,969 | ▼ 86.7% |
| Financial charges65/66B | - | €1,518 | €2,153 | €6,814 | €8,505 | ▲ 24.8% |
| Recurring financial charges65 | €507 | €1,518 | €2,153 | €6,814 | €8,505 | ▲ 24.8% |
| Profit (loss) for the period before taxes9903 | €27,966 | €15,081 | -€9,476 | €8,029 | -€25,231 | - |
| Income taxes67/77 | €8,000 | €3,658 | -€101 | €1,941 | €161 | ▼ 91.7% |
| Profit (loss) for the period9904 | €19,966 | €11,424 | -€9,375 | €6,088 | -€25,392 | - |
| Profit (loss) for the period to be appropriated9905 | €19,966 | €11,424 | -€9,375 | €6,088 | -€25,392 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €44,936 | €76,356 | €73,852 | €46,662 | €33,619 | ▼ 28.0% |
| Fixed assets21/28 | €10,889 | €8,227 | €13,826 | €9,265 | €9,902 | ▲ 6.9% |
| Intangible fixed assets21 | - | - | €1,799 | €999 | €332 | ▼ 66.7% |
| Tangible fixed assets22/27 | €10,889 | €8,227 | €12,026 | €8,266 | €9,570 | ▲ 15.8% |
| Furniture and vehicles24 | - | €3,227 | €6,713 | €4,553 | €7,458 | ▲ 63.8% |
| Other tangible fixed assets26 | - | €5,000 | €5,313 | €3,712 | €2,112 | ▼ 43.1% |
| Current assets29/58 | €34,046 | €68,129 | €60,026 | €37,398 | €23,716 | ▼ 36.6% |
| Amounts receivable within one year40/41 | €17,654 | €58,368 | €19,650 | €29,666 | €13,892 | ▼ 53.2% |
| Trade receivables40 | - | €48,578 | €11,717 | €16,174 | - | - |
| Other amounts receivable41 | - | €9,791 | €7,932 | €13,492 | €13,892 | ▲ 3.0% |
| Current investments50/53 | €3,039 | €3,039 | €3,039 | €3,039 | €3,039 | = |
| Cash at bank and in hand54/58 | €13,353 | €6,723 | €37,338 | €4,693 | €6,786 | ▲ 44.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €44,936 | €76,356 | €73,852 | €46,662 | €33,619 | ▼ 28.0% |
| Equity10/15 | €21,966 | €33,389 | €24,014 | €30,102 | €4,710 | ▼ 84.4% |
| Contributions10/11 | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves13 | €19,966 | €31,389 | €31,389 | €31,389 | €31,389 | = |
| Distributable reserves133 | - | €31,389 | €31,389 | €31,389 | €31,389 | = |
| Profit (loss) carried forward14 | - | - | -€9,375 | -€3,287 | -€28,679 | ▼ 772% |
| Amounts payable17/49 | €22,970 | €42,967 | €49,838 | €16,560 | €28,909 | ▲ 74.6% |
| Amounts payable after more than one year17 | - | - | €7,584 | - | €9,336 | - |
| Financial debts170/4 | - | - | €7,584 | - | €9,336 | - |
| Amounts payable within one year42/48 | €22,970 | €42,967 | €42,254 | €16,560 | €19,573 | ▲ 18.2% |
| Current portion of amounts payable after more than one year42 | - | - | €5,422 | €7,584 | €3,460 | ▼ 54.4% |
| Financial debts43 | - | €0 | €3,636 | €3,130 | €2,257 | ▼ 27.9% |
| Credit institutions430/8 | - | €0 | €3,636 | €3,130 | €2,257 | ▼ 27.9% |
| Trade debts44 | €8,098 | €17,124 | €27,685 | €3,906 | €13,694 | ▲ 251% |
| Suppliers440/4 | - | €17,124 | €27,685 | €3,906 | €13,694 | ▲ 251% |
| Advances received on contracts in progress46 | - | €12,500 | €0 | - | - | - |
| Taxes, remuneration and social security45 | - | €5,337 | €1,780 | €1,941 | €161 | ▼ 91.7% |
| Taxes450/3 | - | €3,750 | €152 | €1,941 | €161 | ▼ 91.7% |
| Remuneration and social security454/9 | - | €1,587 | €1,627 | - | - | - |
| Other amounts payable47/48 | - | €8,006 | €3,731 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €19,966 | €11,424 | -€9,375 | €6,088 | -€25,392 | - |
| + Depreciation and write-downs630 | €934 | €2,174 | €3,515 | €4,561 | €4,480 | ▼ 1.8% |
| Operating cash flow (approximation) | €20,900 | €13,598 | -€5,860 | €10,649 | -€20,912 | - |
| Investment in fixed assets (approximation) | - | €488 | -€9,114 | €0 | -€5,117 | - |
| Change in cash | - | -€6,631 | €30,616 | -€32,645 | €2,093 | - |
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, 1,133 companies had the same profile as YDP has now. Two years later, 86.4% were still going and 6.4% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
86.4%
was still going
6.6%
stopped otherwise
6.4%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of YDP itself: 1.6% 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 1,133 companies, not a prediction for YDP. 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 |
|---|---|---|---|---|
| 30-06-2025 | micro format | 02-02-2026 | 2026-00031368 | |
| 30-06-2024 | micro format | 22-01-2025 | 2025-00008352 | |
| 30-06-2023 | micro format | 15-01-2024 | 2024-00001414 | |
| 30-06-2022 | micro format | 16-01-2023 | 2023-20559271 | |
| 30-06-2021 | micro format | 30-12-2021 | 2021-82500286 |