YEARLING
ActiveFinancials · financial year 2025, abbreviated format
2025 annual accounts filed 29 days after the deadline Filed on 29 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00464097.
Annual accounts 2025 filed on 29-08-2026 at the NBB all 38 filings
Turnover
≈ €260,000
Estimated: probably between €150,000 and €500,000
Total assets
€51,332▲ 86.8%
2024 · €27,480
Net result
€42,663▲ 15.3%
2024 · €36,992
Working capital
€34,195▲ 254%
2024 · €9,650
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€44,698
▲ 18.6%
2025
20182025
Net result
€42,663
▲ 15.3%
2025
middle half of the sector
20182025
Equity
€32,613
2025
lowest quarter of the sector
20182025
Total assets
€51,332
▲ 86.8%
2025
lowest quarter of the sector
20182025
Debt
€18,719
▼ 50.1%
2025
20182025
Working capital
€34,195
▲ 254%
2025
middle half of the sector
20182025
Solvency
63.5%
▲ 100.1pp
2025
highest quarter of the sector
20182025
Current ratio
3.03
▲ 1.48
2025
highest quarter of the sector
20182025
Return on assets (ROA)
83.1%
▼ 51.5pp
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€52,681--€51,804▲ 1.7%-€46,944▲ 9.4%-€27,114▲ 42.2%€24,405€27,601▲ 13.1%€37,695▲ 36.6%€44,698▲ 18.6%
Net result-€53,432--€53,054▲ 0.7%-€47,610below the sector's middle half▲ 10.3%-€27,735below the sector's middle half▲ 41.7%€23,990above the sector's middle half€26,979above the sector's middle half▲ 12.5%€36,992above the sector's middle half▲ 37.1%€42,663within the sector's middle half▲ 15.3%
Equity€30,388--€22,666-€70,276below the sector's middle half▼ 210%-€98,011below the sector's middle half▼ 39.5%-€74,021below the sector's middle half▲ 24.5%-€47,042below the sector's middle half▲ 36.4%-€10,050below the sector's middle half▲ 78.6%€32,613below the sector's middle half
Total assets€102,242-€82,115▼ 19.7%€58,039below the sector's middle half▼ 29.3%€36,767below the sector's middle half▼ 36.7%€31,754below the sector's middle half▼ 13.6%€28,458below the sector's middle half▼ 10.4%€27,480below the sector's middle half▼ 3.4%€51,332below the sector's middle half▲ 86.8%
Debt€71,854-€104,781▲ 45.8%€128,315▲ 22.5%€134,778▲ 5.0%€105,775▼ 21.5%€75,500▼ 28.6%€37,530▼ 50.3%€18,719▼ 50.1%
Working capital€49,397--€8,163-€54,830below the sector's middle half▼ 572%-€78,588below the sector's middle half▼ 43.3%-€54,459below the sector's middle half▲ 30.7%-€27,342below the sector's middle half▲ 49.8%€9,650within the sector's middle half€34,195within the sector's middle half▲ 254%
Solvency29.7%--27.6%▼ 57.3pp-121.1%below the sector's middle half▼ 93.5pp-266.6%below the sector's middle half▼ 145.5pp-233.1%below the sector's middle half▲ 33.5pp-165.3%below the sector's middle half▲ 67.8pp-36.6%below the sector's middle half▲ 128.7pp63.5%above the sector's middle half▲ 100.1pp
Current ratio1.95-0.90▼ 1.050.49below the sector's middle half▼ 0.410.32below the sector's middle half▼ 0.180.37below the sector's middle half▲ 0.050.51below the sector's middle half▲ 0.141.55within the sector's middle half▲ 1.043.03above the sector's middle half▲ 1.48
Return on assets (ROA)-52.3%--64.6%▼ 12.3pp-82.0%below the sector's middle half▼ 17.4pp-75.4%below the sector's middle half▲ 6.6pp75.5%above the sector's middle half▲ 151.0pp94.8%above the sector's middle half▲ 19.3pp134.6%above the sector's middle half▲ 39.8pp83.1%above the sector's middle half▼ 51.5pp
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 19% higher than in 2024 and the highest since 2021. It is the fourth rise in a row.
Turnover and EBIT margin are not published. The abbreviated or 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 €51,332
Fixed assets
€300 =
Current assets
€51,032 ▲ 87.8%
Equity and liabilities €51,332
Equity
€32,613
Debt
€18,719
Debt's share of the balance-sheet total is 36.5%.
Key figures and ratios
Quick ratio
1.65▲
2024 · 0.22
Debt to equity
0.57
ROE
130.8%
Debt ≤ 1 year
€16,837▼
2024 · €17,530
Income taxes
€572▲
2024 · €135
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
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 | €138 | €3,977 | €3,977 | €3,977 | €139 | €138 | - | - | - |
| Other operating charges640/8 | - | - | - | €1,117 | €800 | €395 | €387 | €399 | ▲ 3.1% |
| Gross operating margin9900 | -€52,195 | -€46,480 | -€42,917 | -€22,020 | €25,344 | €28,134 | €38,082 | €45,097 | ▲ 18.4% |
| Operating profit (loss)9901 | -€52,681 | -€51,804 | -€46,944 | -€27,114 | €24,405 | €27,601 | €37,695 | €44,698 | ▲ 18.6% |
| Financial income75/76B | - | - | - | - | - | €2 | €5 | €3 | ▼ 40.0% |
| Recurring financial income75 | €12 | €57 | €7 | - | - | €2 | €5 | €3 | ▼ 40.0% |
| Financial charges65/66B | - | - | - | €499 | €291 | €426 | €573 | €1,466 | ▲ 156% |
| Recurring financial charges65 | €561 | €1,122 | €552 | €499 | €291 | €426 | €573 | €1,466 | ▲ 156% |
| Profit (loss) for the period before taxes9903 | -€53,230 | -€52,869 | -€47,489 | -€27,613 | €24,114 | €27,177 | €37,127 | €43,235 | ▲ 16.5% |
| Income taxes67/77 | €202 | €185 | €121 | €122 | €124 | €198 | €135 | €572 | ▲ 324% |
| Profit (loss) for the period9904 | -€53,432 | -€53,054 | -€47,610 | -€27,735 | €23,990 | €26,979 | €36,992 | €42,663 | ▲ 15.3% |
| Profit (loss) for the period to be appropriated9905 | -€53,432 | -€53,054 | -€47,610 | -€27,735 | €23,990 | €26,979 | €36,992 | €42,663 | ▲ 15.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €102,242 | €82,115 | €58,039 | €36,767 | €31,754 | €28,458 | €27,480 | €51,332 | ▲ 86.8% |
| Fixed assets21/28 | €991 | €8,531 | €4,554 | €577 | €438 | €300 | €300 | €300 | = |
| Tangible fixed assets22/27 | €691 | €8,231 | €4,254 | €277 | €138 | - | - | - | - |
| Plant, machinery and equipment23 | - | - | - | €276 | €138 | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €1 | - | - | - | - | - |
| Financial fixed assets28 | €300 | €300 | €300 | €300 | €300 | €300 | €300 | €300 | = |
| Current assets29/58 | €101,251 | €73,584 | €53,485 | €36,190 | €31,316 | €28,158 | €27,180 | €51,032 | ▲ 87.8% |
| Amounts receivable after more than one year29 | - | - | - | - | €1,427 | €1,416 | €1,416 | - | - |
| Trade receivables290 | - | - | - | - | €1,416 | €1,416 | €1,416 | - | - |
| Other amounts receivable291 | - | - | - | - | €11 | - | - | - | - |
| Stocks and contracts in progress3 | €96,850 | €69,487 | €39,310 | €28,955 | €26,551 | €23,728 | €23,271 | €23,271 | = |
| Stocks30/36 | - | - | - | €28,955 | €26,551 | €23,728 | €23,271 | €23,271 | = |
| Amounts receivable within one year40/41 | €213 | - | €11,228 | €3,456 | - | - | - | €26,718 | - |
| Trade receivables40 | - | - | - | €3,206 | - | - | - | €6,740 | - |
| Other amounts receivable41 | - | - | - | €250 | - | - | - | €19,978 | - |
| Current investments50/53 | - | - | - | - | €1,716 | €1,494 | €1,568 | €1 | ▼ 99.9% |
| Cash at bank and in hand54/58 | €3,716 | €3,604 | €2,947 | €3,779 | €1,622 | €1,520 | €925 | €1,042 | ▲ 12.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €102,242 | €82,115 | €58,039 | €36,767 | €31,754 | €28,458 | €27,480 | €51,332 | ▲ 86.8% |
| Equity10/15 | €30,388 | -€22,666 | -€70,276 | -€98,011 | -€74,021 | -€47,042 | -€10,050 | €32,613 | - |
| Contributions10/11 | €86,763 | €86,763 | €86,763 | €86,763 | €86,763 | €86,763 | €86,763 | €86,763 | = |
| Capital10 | - | - | - | €86,763 | €86,763 | €86,763 | €86,763 | €86,763 | = |
| Issued capital100 | - | - | - | €86,763 | €86,763 | €86,763 | €86,763 | €86,763 | = |
| Reserves13 | €93,676 | €93,676 | €93,676 | €93,676 | €93,676 | €93,676 | €93,676 | €93,676 | = |
| Non-distributable reserves130/1 | - | - | - | €8,676 | €8,676 | €8,676 | €8,676 | €8,676 | = |
| Legal reserve130 | - | - | - | €8,676 | €8,676 | €8,676 | €8,676 | €8,676 | = |
| Distributable reserves133 | - | - | - | €85,000 | €85,000 | €85,000 | €85,000 | €85,000 | = |
| Profit (loss) carried forward14 | -€150,051 | -€203,105 | -€250,715 | -€278,450 | -€254,460 | -€227,481 | -€190,489 | -€147,826 | ▲ 22.4% |
| Amounts payable17/49 | €71,854 | €104,781 | €128,315 | €134,778 | €105,775 | €75,500 | €37,530 | €18,719 | ▼ 50.1% |
| Amounts payable after more than one year17 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | - | - |
| Other amounts payable178/9 | - | - | - | €20,000 | €20,000 | €20,000 | €20,000 | - | - |
| Amounts payable within one year42/48 | €51,854 | €81,747 | €108,315 | €114,778 | €85,775 | €55,500 | €17,530 | €16,837 | ▼ 4.0% |
| Financial debts43 | - | - | - | €7 | - | - | - | - | - |
| Credit institutions430/8 | - | - | - | €7 | - | - | - | - | - |
| Trade debts44 | €11,954 | €6,188 | €19,464 | €20,308 | €10,505 | €13,025 | €13,994 | €12,841 | ▼ 8.2% |
| Suppliers440/4 | - | - | - | €20,308 | €10,505 | €13,025 | €13,994 | €12,841 | ▼ 8.2% |
| Taxes, remuneration and social security45 | - | - | - | €3,495 | €5,302 | €2,895 | €2,550 | €3,996 | ▲ 56.7% |
| Taxes450/3 | - | - | - | €3,495 | €5,302 | €2,895 | €2,550 | €3,996 | ▲ 56.7% |
| Other amounts payable47/48 | - | - | - | €90,968 | €69,968 | €39,580 | €986 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | - | €1,882 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€53,432 | -€53,054 | -€47,610 | -€27,735 | €23,990 | €26,979 | €36,992 | €42,663 | ▲ 15.3% |
| + Depreciation and write-downs630 | €138 | €3,977 | €3,977 | €3,977 | €139 | €138 | - | - | - |
| Operating cash flow (approximation) | -€53,294 | -€49,077 | -€43,633 | -€23,758 | €24,129 | €27,117 | €36,992 | €42,663 | ▲ 15.3% |
| Investment in fixed assets (approximation) | - | -€11,517 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€112 | -€657 | €832 | -€2,157 | -€102 | -€595 | €117 | - |
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, 31,368 companies had the same profile as YEARLING has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of YEARLING itself is higher: 6.9% within 12 months. It rests on far more data about YEARLING than the profile alone.
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 31,368 companies, not a prediction for YEARLING. 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 38 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 29-08-2026 | 2026-00464097 | |
| 31-12-2024 | micro format | 31-08-2025 | 2025-00484190 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00450692 | |
| 31-12-2022 | micro format | 22-08-2023 | 2023-00352433 | |
| 31-12-2021 | micro format | 30-09-2022 | 2022-20455148 | |
| 31-12-2020 | micro format | 29-11-2021 | 2021-78600050 | |
| 31-12-2019 | micro format | 31-08-2020 | 2020-46900348 | |
| 31-12-2018 | micro format | 26-08-2019 | 2019-51900327 | |
| 31-12-2017 | micro format | 26-09-2018 | 2018-64400324 | |
| 31-12-2016 | micro format | 13-06-2017 | 2017-16300499 |