Financials · financial year 2025, full format
2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00466102.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 18 filings
Equity
€37.5m▲ 5.4%
2024 · €35.6m
Net result
€1.9m▼ 17.2%
2024 · €2.3m
Total assets
€55.4m▲ 49.7%
2024 · €37.0m
Solvency
67.7%▼ 28.5pp
2024 · 96.2%
In the rankings
#6 company by total assets in Schoten, Finance and insurance sector#7 company by equity in Schoten, Finance and insurance sector
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€2.9m
▲ 17.3%
2025
20182025
Operating result
€764,126
▲ 29.0%
2025
20182025
Net result
€1.9m
▼ 17.2%
2025
highest quarter of the sector
20182025
Equity
€37.5m
▲ 5.4%
2025
highest quarter of the sector
20182025
Total assets
€55.4m
▲ 49.7%
2025
highest quarter of the sector
20182025
Debt
€17.9m
▲ 13×
2025
20182025
Working capital
€9.0m
▼ 0.8%
2025
highest quarter of the sector
20182025
Solvency
67.7%
▼ 28.5pp
2025
middle half of the sector
20182025
Current ratio
2.55
▼ 4.91
2025
middle half of the sector
20182025
Return on assets (ROA)
3.5%
▼ 2.8pp
2025
middle half of the sector
20182025
Staff (FTE)
6.5
▲ 8.3%
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
Turnover€0.4m-€0.4m▲ 2.5%€0.5m▲ 10.6%€0.6m▲ 36.3%€0.8m▲ 33.0%€1.4m▲ 64.5%€2.5m▲ 81.9%€2.9m▲ 17.3%
Operating result€0.3m-€0.2m▼ 21.3%€0.2m▼ 10.9%€0.2m▲ 24.0%-€0.06m-€0.3m▼ 490%€0.6m€0.8m▲ 29.0%
Net result€0.6m-€0.6m▼ 0.8%€0.8mabove the sector's middle half▲ 33.9%€5.6mabove the sector's middle half▲ 618%€1.4mabove the sector's middle half▼ 74.8%€2.8mabove the sector's middle half▲ 95.5%€2.3mabove the sector's middle half▼ 15.4%€1.9mabove the sector's middle half▼ 17.2%
Equity€25.4m-€26.0m▲ 2.3%€26.7mabove the sector's middle half▲ 3.0%€30.1mabove the sector's middle half▲ 12.6%€31.5mabove the sector's middle half▲ 4.7%€33.3mabove the sector's middle half▲ 5.6%€35.6mabove the sector's middle half▲ 7.0%€37.5mabove the sector's middle half▲ 5.4%
Total assets€25.5m-€26.0m▲ 2.2%€26.9mwithin the sector's middle half▲ 3.4%€30.1mwithin the sector's middle half▲ 12.0%€31.6mwithin the sector's middle half▲ 4.7%€34.9mwithin the sector's middle half▲ 10.6%€37.0mwithin the sector's middle half▲ 6.0%€55.4mabove the sector's middle half▲ 49.7%
Debt€0.09m-€0.06m▼ 32.8%€0.2m▲ 194%€0.03m▼ 81.0%€0.05m▲ 46.8%€1.6m▲ 35×€1.4m▼ 13.5%€17.9m▲ 13×
Working capital€3.0m-€3.2m▲ 6.7%€3.8mabove the sector's middle half▲ 17.5%€7.1mabove the sector's middle half▲ 87.1%€7.9mabove the sector's middle half▲ 12.1%€8.1mabove the sector's middle half▲ 1.6%€9.1mabove the sector's middle half▲ 12.4%€9.0mabove the sector's middle half▼ 0.8%
Solvency99.7%-99.8%▲ 0.1pp99.4%above the sector's middle half▼ 0.4pp99.9%above the sector's middle half▲ 0.5pp99.9%above the sector's middle half=95.3%above the sector's middle half▼ 4.5pp96.2%above the sector's middle half▲ 0.9pp67.7%within the sector's middle half▼ 28.5pp
Current ratio36.53-57.45▲ 20.9223.65above the sector's middle half▼ 33.805.96above the sector's middle half7.46above the sector's middle half▲ 1.492.55within the sector's middle half▼ 4.91
Return on assets (ROA)2.3%-2.2%▼ 0.1pp2.9%within the sector's middle half▲ 0.7pp18.6%above the sector's middle half▲ 15.7pp4.5%within the sector's middle half▼ 14.1pp7.9%within the sector's middle half▲ 3.4pp6.3%within the sector's middle half▼ 1.6pp3.5%within the sector's middle half▼ 2.8pp
Staff (FTE)1below the sector's middle half1below the sector's middle half=1.3within the sector's middle half▲ 30.0%3within the sector's middle half▲ 131%6within the sector's middle half▲ 100%6.5within the sector's middle half▲ 8.3%
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 29% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €55.4m
Fixed assets
€40.6m ▲ 53.0%
Current assets
€14.8m ▲ 41.4%
Equity and liabilities €55.4m
Equity
€37.5m ▲ 5.4%
Debt
€17.9m ▲ 13×
Debt's share of the balance-sheet total rises from 3.8% to 32.3%. Equity and debt are higher.
Key figures and ratios
ROE
5.1%▼
2024 · 6.5%
Debt ≤ 1 year
€5.8m▲
2024 · €1.4m
Debt > 1 year
€12.1m
Income taxes
€244,609▲
2024 · €140,585
Staff costs
€486,603▲
2024 · €473,654
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 2 | 6 | 6 | 6 |
| full-time | 1 | 1 | 5 | 5 | 5 |
| part-time | 0 | 1 | 1 | 1 | 1 |
| in full-time equivalents | 1 | 1.9 | 5.9 | 5.8 | 5.8 |
| Average over the year, in full-time equivalents | 1 | 1.3 | 3 | 6 | 6.5 |
| On a permanent contract | 1 | 2 | 6 | 6 | 6 |
| Joined | 1 | 1 | 4 | 1 | 1 |
| Left | 1 | 0 | 0 | 1 | 1 |
| Training hours | 4 | 31 | 275 | 155 | 124 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | - | - | - | - | €12.2m |
| Pledge on other assets, amount secured | - | - | - | - | €12.2m |
| Carrying value of the other pledged assets | - | - | - | - | €13.4m |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €7,160 | - | €207,875 | €46,508 | - |
| Financial fixed assets | €100,000 | €575,212 | €1.7m | €1.3m | €14.4m |
| Depreciation and write-downs of the year | €35,057 | €25,711 | €12,286 | €45,247 | €50,877 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | €0.7m | €0.9m | €1.4m | €2.5m | €2.9m | ▲ 17.1% |
| Turnover70 | €0.4m | €0.4m | €0.5m | €0.6m | €0.8m | €1.4m | €2.5m | €2.9m | ▲ 17.3% |
| Other operating income74 | - | - | - | €0.04m | €0.03m | €0.02m | €0.02m | €0.01m | ▼ 9.3% |
| Non-recurring operating income76A | - | - | - | - | - | €0.04m | €0 | - | - |
| Operating charges60/66A | - | - | - | €0.4m | €0.9m | €1.8m | €1.9m | €2.1m | ▲ 13.4% |
| Services and other goods61 | - | - | - | €0.3m | €0.4m | €0.8m | €1.1m | €1.5m | ▲ 32.7% |
| Remuneration, social security and pensions62 | - | - | - | €0.1m | €0.1m | €0.2m | €0.5m | €0.5m | ▲ 2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.02m | €0.02m | €0.04m | €0.04m | €0.03m | €0.01m | €0.05m | €0.05m | ▲ 12.4% |
| Other operating charges640/8 | - | - | - | €0.008m | €0.3m | €0.7m | €0.001m | €0.1m | ▲ 78× |
| Non-recurring operating charges66A | - | - | - | - | - | - | €0.2m | €0 | ▼ 100% |
| Operating profit (loss)9901 | €0.3m | €0.2m | €0.2m | €0.2m | -€0.06m | -€0.3m | €0.6m | €0.8m | ▲ 29.0% |
| Financial income75/76B | - | - | - | €5.4m | €1.5m | €3.1m | €1.9m | €1.5m | ▼ 24.0% |
| Recurring financial income75 | €0.4m | €0.5m | €0.7m | €5.4m | €1.5m | €3.1m | €1.9m | €1.5m | ▼ 24.0% |
| Income from financial fixed assets750 | - | - | - | €5.4m | €1.4m | €3.0m | €1.7m | €1.3m | ▼ 27.1% |
| Income from current assets751 | - | - | - | €0.03m | €0.06m | €0.1m | €0.2m | €0.2m | ▲ 4.8% |
| Other financial income752/9 | - | - | - | - | - | €1 | €0 | €76 | ▲ 196× |
| Financial charges65/66B | - | - | - | €0.001m | €189 | €0.01m | €0.03m | €0.04m | ▲ 28.3% |
| Recurring financial charges65 | €20 | €76 | €0.02m | €0.001m | €189 | €0.01m | €0.03m | €0.04m | ▲ 28.3% |
| Debt charges650 | - | €56 | €0.001m | €0.001m | €0 | €0.006m | €0.03m | €0.04m | ▲ 57.7% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651 | - | - | - | - | €3 | €0 | - | - | - |
| Other financial charges652/9 | - | - | - | €173 | €186 | €0.005m | €0.007m | €0.001m | ▼ 81.8% |
| Profit (loss) for the period before taxes9903 | €0.7m | €0.7m | €0.8m | €5.7m | €1.4m | €2.8m | €2.5m | €2.2m | ▼ 12.0% |
| Income taxes67/77 | €0.09m | €0.08m | €0.06m | €0.08m | €0.01m | €0.002m | €0.1m | €0.2m | ▲ 74.0% |
| Taxes670/3 | - | - | - | €0.08m | €0.01m | €0.002m | €0.1m | €0.2m | ▲ 74.0% |
| Profit (loss) for the period9904 | €0.6m | €0.6m | €0.8m | €5.6m | €1.4m | €2.8m | €2.3m | €1.9m | ▼ 17.2% |
| Transfer from tax-exempt reserves789 | - | - | - | - | €0.2m | €0.09m | €0.2m | €0 | ▼ 100% |
| Transfer to tax-exempt reserves689 | - | - | - | €0 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €0.6m | €0.2m | €0.7m | €5.6m | €1.6m | €2.8m | €2.5m | €1.9m | ▼ 24.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €25.5m | €26.0m | €26.9m | €30.1m | €31.6m | €34.9m | €37.0m | €55.4m | ▲ 49.7% |
| Fixed assets21/28 | €22.4m | €22.7m | €22.9m | €23.0m | €23.6m | €25.2m | €26.5m | €40.6m | ▲ 53.0% |
| Tangible fixed assets22/27 | €0.05m | €0.03m | €0.1m | €0.08m | €0.05m | €0.2m | €0.2m | €0.1m | ▼ 25.8% |
| Furniture and vehicles24 | - | - | - | €0.08m | €0.05m | €0.2m | €0.2m | €0.1m | ▼ 25.8% |
| Financial fixed assets28 | €22.3m | €22.7m | €22.8m | €22.9m | €23.5m | €25.0m | €26.3m | €40.5m | ▲ 53.6% |
| Affiliated companies280/1 | - | - | - | €22.7m | €22.7m | €23.5m | €24.4m | €38.7m | ▲ 58.9% |
| Participating interests280 | - | - | - | €22.7m | €22.7m | €23.5m | €24.4m | €38.7m | ▲ 58.9% |
| Companies linked by participating interests282/3 | - | - | - | €0.3m | €0.8m | €1.1m | €1.4m | €1.1m | ▼ 18.8% |
| Participating interests282 | - | - | - | €0.3m | €0.8m | €1.1m | €1.4m | €1.1m | ▼ 18.8% |
| Other financial fixed assets284/8 | - | - | - | - | €0.004m | €0.4m | €0.6m | €0.6m | ▲ 8.8% |
| Shares284 | - | - | - | - | - | €0.4m | €0.6m | €0.6m | ▲ 8.8% |
| Amounts receivable and cash guarantees285/8 | - | - | - | - | €0.004m | €0 | - | - | - |
| Current assets29/58 | €3.1m | €3.3m | €4.0m | €7.1m | €8.0m | €9.7m | €10.5m | €14.8m | ▲ 41.4% |
| Amounts receivable after more than one year29 | - | - | - | €1.9m | €2.5m | €4.0m | €3.8m | €4.7m | ▲ 24.5% |
| Other amounts receivable291 | - | - | - | €1.9m | €2.5m | €4.0m | €3.8m | €4.7m | ▲ 24.5% |
| Stocks and contracts in progress3 | - | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Amounts receivable within one year40/41 | €0.4m | €0.5m | €0.7m | €1.6m | €1.6m | €2.0m | €2.2m | €4.3m | ▲ 92.3% |
| Trade receivables40 | - | - | - | €0.02m | €0.05m | €0.2m | €0.2m | €0.3m | ▲ 33.1% |
| Other amounts receivable41 | - | - | - | €1.6m | €1.6m | €1.8m | €2.1m | €4.1m | ▲ 97.7% |
| Current investments50/53 | - | - | €1.0m | €1.0m | €1.0m | €1.2m | €1.5m | €1.5m | = |
| Other investments51/53 | - | - | - | €1.0m | €1.0m | €1.2m | €1.5m | €1.5m | = |
| Cash at bank and in hand54/58 | €1.5m | €1.8m | €0.1m | €2.6m | €2.8m | €2.4m | €2.8m | €4.1m | ▲ 46.7% |
| Deferred charges and accrued income490/1 | - | - | - | €0.005m | €0.03m | €0.06m | €0.08m | €0.1m | ▲ 31.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €25.5m | €26.0m | €26.9m | €30.1m | €31.6m | €34.9m | €37.0m | €55.4m | ▲ 49.7% |
| Equity10/15 | €25.4m | €26.0m | €26.7m | €30.1m | €31.5m | €33.3m | €35.6m | €37.5m | ▲ 5.4% |
| Contributions10/11 | €6.5m | €6.5m | - | €6.0m | €6.0m | €6.0m | €6.0m | €6.0m | = |
| Reserves13 | €18.9m | €19.5m | €20.2m | €24.2m | €25.6m | €27.3m | €29.6m | €31.6m | ▲ 6.5% |
| Non-distributable reserves130/1 | - | - | - | €0 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0 | - | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €0.5m | €0.3m | €0.2m | €0 | - | - |
| Distributable reserves133 | - | - | - | €23.7m | €25.3m | €27.1m | €29.6m | €31.6m | ▲ 6.5% |
| Amounts payable17/49 | €0.09m | €0.06m | €0.2m | €0.03m | €0.05m | €1.6m | €1.4m | €17.9m | ▲ 13× |
| Amounts payable after more than one year17 | - | - | - | - | - | - | - | €12.1m | - |
| Financial debts170/4 | - | - | - | - | - | - | - | €12.1m | - |
| Credit institutions173 | - | - | - | - | - | - | - | €12.1m | - |
| Amounts payable within one year42/48 | €0.09m | €0.06m | €0.2m | €0.03m | €0.05m | €1.6m | €1.4m | €5.8m | ▲ 314% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | - | €0.1m | - |
| Trade debts44 | €0.02m | €0.001m | €0.003m | €0.02m | €0.03m | €0.08m | €0.09m | €0.3m | ▲ 194% |
| Suppliers440/4 | - | - | - | €0.02m | €0.03m | €0.08m | €0.09m | €0.3m | ▲ 194% |
| Taxes, remuneration and social security45 | - | - | - | €0.007m | €0.01m | €0.04m | €0.1m | €0.2m | ▲ 57.2% |
| Taxes450/3 | - | - | - | €0.004m | €0.001m | €0.02m | €0.08m | €0.2m | ▲ 102% |
| Remuneration and social security454/9 | - | - | - | €0.002m | €0.01m | €0.03m | €0.05m | €0.05m | ▼ 10.6% |
| Other amounts payable47/48 | - | - | - | €0.001m | €0.001m | €1.5m | €1.2m | €5.2m | ▲ 340% |
| Accrued charges and deferred income492/3 | - | - | - | €0 | - | €0.005m | €0.005m | €0.01m | ▲ 102% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.6m | €0.6m | €0.8m | €5.6m | €1.4m | €2.8m | €2.3m | €1.9m | ▼ 17.2% |
| + Depreciation and write-downs630 | €0.02m | €0.02m | €0.04m | €0.04m | €0.03m | €0.01m | €0.05m | €0.05m | ▲ 12.4% |
| Operating cash flow (approximation) | €0.6m | €0.6m | €0.8m | €5.6m | €1.4m | €2.8m | €2.4m | €2.0m | ▼ 16.6% |
| Investment in fixed assets (approximation) | - | -€0.4m | -€0.3m | -€0.1m | -€0.6m | -€1.6m | -€1.4m | -€14.1m | ▼ 931% |
| Change in cash | - | €0.3m | -€1.7m | €2.5m | €0.2m | -€0.4m | €0.4m | €1.3m | ▲ 227% |
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 18 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 31-08-2026 | 2026-00466102 | |
| 31-12-2024 | full format | 25-07-2025 | 2025-00313683 | |
| 31-12-2023 | full format | 24-07-2024 | 2024-00276400 | |
| 31-12-2022 | full format | 20-07-2023 | 2023-00254268 | |
| 31-12-2021 | full format | 27-06-2022 | 2022-20092895 | |
| 31-12-2020 | full format | 27-07-2021 | 2021-40100075 | |
| 31-12-2019 | full format | 27-08-2020 | 2020-45000447 | |
| 31-12-2018 | full format | 15-07-2019 | 2019-32200519 | |
| 31-12-2017 | full format | 06-07-2018 | 2018-29000322 | |
| 31-12-2016 | full format | 05-07-2017 | 2017-27300196 |