Financials · financial year 2025, micro format
Annual accounts 2025 filed on 30-04-2026 PDF all 20 filings
Equity
€98,947▼ 6.9%
2024 · €106,232
Net result
€6,715
2024 · -€57,426
Total assets
€169,660▼ 15.5%
2024 · €200,895
Solvency
58.3%▲ 5.4pp
2024 · 52.9%
In the rankings
#6 oldest company in La Hulpe, Finance and insurance sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€8,169
2025
20182025
Net result
€6,715
2025
middle half of the sector
20182025
Equity
€98,947
▼ 6.9%
2025
middle half of the sector
20182025
Total assets
€169,660
▼ 15.5%
2025
middle half of the sector
20182025
Debt
€70,713
▼ 25.3%
2025
20182025
Working capital
€33,716
▲ 81.2%
2025
middle half of the sector
20182025
Solvency
58.3%
▲ 5.4pp
2025
middle half of the sector
20182025
Current ratio
1.48
▲ 0.28
2025
middle half of the sector
20182025
Return on assets (ROA)
4.0%
▲ 32.5pp
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€175,905-€105,063▼ 40.3%€94,024▼ 10.5%€233,235▲ 148%€115,866▼ 50.3%€22,586▼ 80.5%-€62,194€8,169
Net result€66,087-€11,092▼ 83.2%€33,193within the sector's middle half▲ 199%€171,789above the sector's middle half▲ 418%€85,069above the sector's middle half▼ 50.5%€12,677within the sector's middle half▼ 85.1%-€57,426below the sector's middle half€6,715within the sector's middle half
Equity€281,649-€257,741▼ 8.5%€257,934within the sector's middle half▲ 0.1%€259,723within the sector's middle half▲ 0.7%€344,792within the sector's middle half▲ 32.8%€229,744within the sector's middle half▼ 33.4%€106,232within the sector's middle half▼ 53.8%€98,947within the sector's middle half▼ 6.9%
Total assets€317,554-€331,618▲ 4.4%€325,854within the sector's middle half▼ 1.7%€495,003within the sector's middle half▲ 51.9%€402,540within the sector's middle half▼ 18.7%€267,293within the sector's middle half▼ 33.6%€200,895within the sector's middle half▼ 24.8%€169,660within the sector's middle half▼ 15.5%
Debt€35,905-€73,877▲ 106%€67,920▼ 8.1%€235,280▲ 246%€57,748▼ 75.5%€37,549▼ 35.0%€94,662▲ 152%€70,713▼ 25.3%
Working capital€269,011-€249,765▼ 7.2%€247,260above the sector's middle half▼ 1.0%€249,744above the sector's middle half▲ 1.0%€337,158above the sector's middle half▲ 35.0%€108,662within the sector's middle half▼ 67.8%€18,611within the sector's middle half▼ 82.9%€33,716within the sector's middle half▲ 81.2%
Solvency88.7%-77.7%▼ 11.0pp79.2%above the sector's middle half▲ 1.4pp52.5%within the sector's middle half▼ 26.7pp85.7%above the sector's middle half▲ 33.2pp86.0%above the sector's middle half▲ 0.3pp52.9%within the sector's middle half▼ 33.1pp58.3%within the sector's middle half▲ 5.4pp
Current ratio8.49-4.43▼ 4.074.71above the sector's middle half▲ 0.292.06within the sector's middle half▼ 2.656.84above the sector's middle half▲ 4.783.89within the sector's middle half▼ 2.941.20within the sector's middle half▼ 2.701.48within the sector's middle half▲ 0.28
Return on assets (ROA)20.8%-3.3%▼ 17.5pp10.2%within the sector's middle half▲ 6.8pp34.7%above the sector's middle half▲ 24.5pp21.1%within the sector's middle half▼ 13.6pp4.7%within the sector's middle half▼ 16.4pp-28.6%below the sector's middle half▼ 33.3pp4.0%within the sector's middle half▲ 32.5pp
above
within
below
The sector band is the middle half of the companies in Financial service activities, except insurance and pension funding (NACE 64). 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 profit of €8,169, after a loss of €62,194 in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €169,660
Fixed assets
€65,231 ▼ 25.6%
Current assets
€104,430 ▼ 7.8%
Equity and liabilities €169,660
Equity
€98,947 ▼ 6.9%
Debt
€70,713 ▼ 25.3%
Debt's share of the balance-sheet total falls from 47.1% to 41.7%. Equity and debt are lower.
Key figures and ratios
ROE
6.8%▲
2024 · -54.1%
Debt ≤ 1 year
€70,713▼
2024 · €94,662
Income taxes
€436
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 | €4,272 | €3,404 | €131,365 | €3,538 | €4,658 |
| Depreciation and write-downs of the year | €6,293 | €5,750 | €17,917 | €27,158 | €27,048 |
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 | €6,614 | €6,385 | €6,229 | €6,293 | €5,750 | €17,917 | €27,158 | €27,048 | ▼ 0.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | -€19,369 | €19,369 | - | - |
| Other operating charges640/8 | - | - | - | €1,744 | €2,369 | €11,770 | €20,223 | €2,215 | ▼ 89.0% |
| Gross operating margin9900 | €192,500 | €115,032 | €102,348 | €241,272 | €123,985 | €32,904 | €4,556 | €37,432 | ▲ 722% |
| Operating profit (loss)9901 | €175,905 | €105,063 | €94,024 | €233,235 | €115,866 | €22,586 | -€62,194 | €8,169 | - |
| Financial income75/76B | - | - | - | €90 | €90 | €1,831 | €5,675 | €3,121 | ▼ 45.0% |
| Recurring financial income75 | €3,306 | €4,328 | €1,360 | €90 | €90 | €1,831 | €5,675 | €3,121 | ▼ 45.0% |
| Financial charges65/66B | - | - | - | €1,036 | €1,547 | €4,792 | €906 | €4,139 | ▲ 357% |
| Recurring financial charges65 | €79,491 | €1,815 | €46,994 | €1,036 | €1,547 | €4,792 | €906 | €4,139 | ▲ 357% |
| Profit (loss) for the period before taxes9903 | €99,720 | €18,402 | €48,390 | €232,289 | €114,409 | €19,625 | -€57,426 | €7,151 | - |
| Income taxes67/77 | €33,633 | €7,310 | €15,197 | €60,500 | €29,341 | €6,947 | - | €436 | - |
| Profit (loss) for the period9904 | €66,087 | €11,092 | €33,193 | €171,789 | €85,069 | €12,677 | -€57,426 | €6,715 | - |
| Profit (loss) for the period to be appropriated9905 | €66,087 | €11,092 | €33,193 | €171,789 | €85,069 | €12,677 | -€57,426 | €6,715 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €317,554 | €331,618 | €325,854 | €495,003 | €402,540 | €267,293 | €200,895 | €169,660 | ▼ 15.5% |
| Fixed assets21/28 | €12,638 | €8,937 | €12,000 | €9,979 | €7,634 | €121,082 | €87,621 | €65,231 | ▼ 25.6% |
| Tangible fixed assets22/27 | €12,638 | €8,937 | €12,000 | €9,979 | €7,634 | €121,082 | €87,621 | €65,231 | ▼ 25.6% |
| Plant, machinery and equipment23 | - | - | - | €1,595 | €2,726 | €1,627 | €529 | - | - |
| Furniture and vehicles24 | - | - | - | €8,384 | €4,907 | €119,454 | €87,093 | €65,231 | ▼ 25.1% |
| Current assets29/58 | €304,916 | €322,681 | €313,854 | €485,024 | €394,906 | €146,211 | €113,273 | €104,430 | ▼ 7.8% |
| Stocks and contracts in progress3 | €4,165 | - | - | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €191,038 | €220,990 | €96,786 | €237,890 | €118,500 | €71,253 | €53,080 | €44,890 | ▼ 15.4% |
| Trade receivables40 | - | - | - | €231,944 | €114,954 | €66,262 | €53,044 | €44,170 | ▼ 16.7% |
| Other amounts receivable41 | - | - | - | €5,946 | €3,546 | €4,990 | €36 | €720 | ▲ 20× |
| Current investments50/53 | - | - | - | - | - | €25,750 | €23,223 | €32,433 | ▲ 39.7% |
| Cash at bank and in hand54/58 | €104,905 | €96,846 | €214,079 | €244,333 | €272,569 | €44,998 | €34,619 | €24,155 | ▼ 30.2% |
| Deferred charges and accrued income490/1 | - | - | - | €2,801 | €3,838 | €4,211 | €2,351 | €2,951 | ▲ 25.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €317,554 | €331,618 | €325,854 | €495,003 | €402,540 | €267,293 | €200,895 | €169,660 | ▼ 15.5% |
| Equity10/15 | €281,649 | €257,741 | €257,934 | €259,723 | €344,792 | €229,744 | €106,232 | €98,947 | ▼ 6.9% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €199,451 | €209,671 | €242,671 | €242,671 | €199,946 | €146,537 | €146,537 | €86,537 | ▼ 40.9% |
| 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 | - | - | - | €240,811 | €198,086 | €144,677 | €144,677 | €84,677 | ▼ 41.5% |
| Profit (loss) carried forward14 | €69,798 | €35,670 | €2,863 | €4,652 | €132,445 | €70,807 | -€52,705 | €10 | - |
| Amounts payable17/49 | €35,905 | €73,877 | €67,920 | €235,280 | €57,748 | €37,549 | €94,662 | €70,713 | ▼ 25.3% |
| Amounts payable within one year42/48 | €35,905 | €72,916 | €66,594 | €235,280 | €57,748 | €37,549 | €94,662 | €70,713 | ▼ 25.3% |
| Trade debts44 | €18,666 | €32,923 | €31,212 | €35,270 | €24,552 | €27,335 | €26,725 | €2,844 | ▼ 89.4% |
| Suppliers440/4 | - | - | - | €35,270 | €24,552 | €27,335 | €26,725 | €2,844 | ▼ 89.4% |
| Taxes, remuneration and social security45 | - | - | - | €29,329 | €32,536 | €10,214 | €3,153 | €3,062 | ▼ 2.9% |
| Taxes450/3 | - | - | - | €29,329 | €32,536 | €10,214 | €3,153 | €3,062 | ▼ 2.9% |
| Other amounts payable47/48 | - | - | - | €170,681 | €660 | - | €64,784 | €64,807 | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €66,087 | €11,092 | €33,193 | €171,789 | €85,069 | €12,677 | -€57,426 | €6,715 | - |
| + Depreciation and write-downs630 | €6,614 | €6,385 | €6,229 | €6,293 | €5,750 | €17,917 | €27,158 | €27,048 | ▼ 0.4% |
| Operating cash flow (approximation) | €72,701 | €17,477 | €39,422 | €178,082 | €90,818 | €30,595 | -€30,268 | €33,763 | - |
| Investment in fixed assets (approximation) | - | -€2,684 | -€9,292 | -€4,272 | -€3,405 | -€131,365 | €6,303 | -€4,658 | - |
| Change in cash | - | -€8,059 | €117,233 | €30,254 | €28,236 | -€227,571 | -€10,379 | -€10,464 | ▼ 0.8% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 20 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-04-2026 | 2026-00102850 | |
| 31-12-2024 | micro format | 12-06-2025 | 2025-00139465 | |
| 31-12-2023 | micro format | 01-07-2024 | 2024-00208356 | |
| 31-12-2022 | micro format | 01-06-2023 | 2023-00109907 | |
| 31-12-2021 | micro format | 28-04-2022 | 2022-20017414 | |
| 31-12-2020 | micro format | 16-04-2021 | 2021-10500454 | |
| 31-12-2019 | micro format | 12-06-2020 | 2020-16500354 | |
| 31-12-2018 | full format | 09-05-2019 | 2019-12800137 | |
| 31-12-2017 | full format | 24-05-2018 | 2018-13600494 | |
| 31-12-2016 | full format | 31-07-2017 | 2017-40000392 |