Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 29-07-2026 at the NBB all 4 filings
Equity
€229,626▼ 32.5%
2024 · €340,421
Net result
-€110,795▼ 125%
2024 · -€49,317
Total assets
€5.7m▲ 17.1%
2024 · €4.9m
Solvency
4.0%▼ 3.0pp
2024 · 7.0%
Multi-year overview
2022 to 2025, 4 financial yearsOperating result
-€26,906
▼ 3.8%
2025
20222025
Net result
-€110,795
▼ 125%
2025
lowest quarter of the sector
20222025
Equity
€229,626
▼ 32.5%
2025
middle half of the sector
20222025
Total assets
€5.7m
▲ 17.1%
2025
highest quarter of the sector
20222025
Debt
€5.5m
▲ 20.9%
2025
20222025
Working capital
€2.3m
▲ 31.1%
2025
highest quarter of the sector
20222025
Solvency
4.0%
▼ 3.0pp
2025
lowest quarter of the sector
20222025
Current ratio
7.48
▼ 1.19
2025
highest quarter of the sector
20222025
Return on assets (ROA)
-1.9%
▼ 0.9pp
2025
lowest quarter of the sector
20222025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Operating result-€0.01m-€0.1m-€0.03m-€0.03m▼ 3.8%
Net result€0.01mwithin the sector's middle half-€0.08mwithin the sector's middle half▲ 433%-€0.05mbelow the sector's middle half-€0.1mbelow the sector's middle half▼ 125%
Equity€0.3mwithin the sector's middle half-€0.4mwithin the sector's middle half▲ 24.1%€0.3mwithin the sector's middle half▼ 12.7%€0.2mwithin the sector's middle half▼ 32.5%
Total assets€1.5mwithin the sector's middle half-€2.3mwithin the sector's middle half▲ 48.3%€4.9mabove the sector's middle half▲ 114%€5.7mabove the sector's middle half▲ 17.1%
Debt€1.2m-€1.9m▲ 54.6%€4.5m▲ 140%€5.5m▲ 20.9%
Working capital€1.3mabove the sector's middle half-€2.1mabove the sector's middle half▲ 68.5%€1.8mabove the sector's middle half▼ 17.2%€2.3mabove the sector's middle half▲ 31.1%
Solvency20.5%below the sector's middle half-17.1%below the sector's middle half▼ 3.3pp7.0%below the sector's middle half▼ 10.1pp4.0%below the sector's middle half▼ 3.0pp
Current ratio11.62above the sector's middle half-73.49above the sector's middle half▲ 61.878.67above the sector's middle half▼ 64.827.48above the sector's middle half▼ 1.19
Return on assets (ROA)0.9%within the sector's middle half-3.3%within the sector's middle half▲ 2.4pp-1.0%below the sector's middle half▼ 4.3pp-1.9%below the sector's middle half▼ 0.9pp
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 loss of €26,906, larger than the loss of €25,910 in 2024. It is the lowest result since 2022.
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.7m
Fixed assets
€3.0m ▲ 5.4%
Current assets
€2.7m ▲ 33.9%
Equity and liabilities €5.7m
Equity
€229,626 ▼ 32.5%
Debt
€5.5m ▲ 20.9%
Debt's share of the balance-sheet total rises from 93.0% to 96.0%. Equity is lower and debt is higher.
Key figures and ratios
ROE
-48.3%▼
2024 · -14.5%
Debt ≤ 1 year
€357,334▲
2024 · €230,305
Debt > 1 year
€5.0m▲
2024 · €4.1m
Income taxes
-€5,433▼
2024 · €0
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 29-11-2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Debts secured on the company's own assets | - | - | €2.3m | €2.3m |
| Pledge on other assets, amount secured | - | - | €2.3m | €2.3m |
| Carrying value of the other pledged assets | - | - | €2.8m | €2.8m |
| Guarantees given for others' debts | - | - | - | €1.8m |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 29-11-2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Financial fixed assets | €150,000 | €15,000 | €2.8m | €155,875 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Other operating charges640/8 | €902 | €132 | €141 | €254 | ▲ 80.9% |
| Gross operating margin9900 | -€9,441 | €99,492 | -€25,769 | -€26,652 | ▼ 3.4% |
| Operating profit (loss)9901 | -€10,343 | €99,360 | -€25,910 | -€26,906 | ▼ 3.8% |
| Financial income75/76B | €107,097 | €94,594 | €149,187 | €150,778 | ▲ 1.1% |
| Recurring financial income75 | €107,097 | €94,594 | €149,187 | €150,778 | ▲ 1.1% |
| Financial charges65/66B | €77,855 | €92,578 | €172,594 | €240,101 | ▲ 39.1% |
| Recurring financial charges65 | €77,855 | €92,578 | €172,594 | €240,101 | ▲ 39.1% |
| Profit (loss) for the period before taxes9903 | €18,899 | €101,376 | -€49,317 | -€116,228 | ▼ 136% |
| Income taxes67/77 | €4,725 | €25,813 | €0 | -€5,433 | - |
| Profit (loss) for the period9904 | €14,174 | €75,563 | -€49,317 | -€110,795 | ▼ 125% |
| Profit (loss) for the period to be appropriated9905 | €14,174 | €75,563 | -€49,317 | -€110,795 | ▼ 125% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €1.5m | €2.3m | €4.9m | €5.7m | ▲ 17.1% |
| Fixed assets21/28 | €0.2m | €0.1m | €2.9m | €3.0m | ▲ 5.4% |
| Financial fixed assets28 | €0.2m | €0.1m | €2.9m | €3.0m | ▲ 5.4% |
| Current assets29/58 | €1.4m | €2.2m | €2.0m | €2.7m | ▲ 33.9% |
| Amounts receivable after more than one year29 | - | €1.6m | €1.5m | €2.5m | ▲ 65.6% |
| Other amounts receivable291 | - | €1.6m | €1.5m | €2.5m | ▲ 65.6% |
| Stocks and contracts in progress3 | €0.2m | €0 | - | - | - |
| Stocks30/36 | €0.2m | €0 | - | - | - |
| Amounts receivable within one year40/41 | €1.0m | €0.2m | €0.2m | €0.008m | ▼ 94.9% |
| Trade receivables40 | - | - | - | €0.008m | - |
| Other amounts receivable41 | €1.0m | €0.2m | €0.2m | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €0.02m | €0.2m | €0.2m | €0.04m | ▼ 76.4% |
| Deferred charges and accrued income490/1 | €0.1m | €0.09m | €0.1m | €0.1m | ▼ 21.1% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €1.5m | €2.3m | €4.9m | €5.7m | ▲ 17.1% |
| Equity10/15 | €0.3m | €0.4m | €0.3m | €0.2m | ▼ 32.5% |
| Contributions10/11 | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Profit (loss) carried forward14 | €0.01m | €0.09m | €0.04m | -€0.07m | - |
| Amounts payable17/49 | €1.2m | €1.9m | €4.5m | €5.5m | ▲ 20.9% |
| Amounts payable after more than one year17 | €1.0m | €1.8m | €4.1m | €5.0m | ▲ 19.9% |
| Financial debts170/4 | €1.0m | €1.8m | €4.1m | €5.0m | ▲ 19.9% |
| Amounts payable within one year42/48 | €0.1m | €0.03m | €0.2m | €0.4m | ▲ 55.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.1m | - |
| Trade debts44 | €0.1m | €0.004m | €0.004m | €0.02m | ▲ 425% |
| Suppliers440/4 | €0.1m | €0.004m | €0.004m | €0.02m | ▲ 425% |
| Taxes, remuneration and social security45 | €0.005m | €0.03m | €0.03m | €0 | ▼ 100% |
| Taxes450/3 | €0.005m | €0.03m | €0.03m | €0 | ▼ 100% |
| Other amounts payable47/48 | €0 | €0 | €0.2m | €0.2m | ▼ 1.8% |
| Accrued charges and deferred income492/3 | €0.06m | €0.08m | €0.1m | €0.1m | ▼ 7.3% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.01m | €0.08m | -€0.05m | -€0.1m | ▼ 125% |
| Operating cash flow (approximation) | €0.01m | €0.08m | -€0.05m | -€0.1m | ▼ 125% |
| Investment in fixed assets (approximation) | - | €0.04m | -€2.8m | -€0.2m | ▲ 94.3% |
| Change in cash | - | €0.2m | -€0.07m | -€0.1m | ▼ 103% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.