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Private limited companyfounded 2014active for 12 yearsBeukendreef 11, 8310 Brugge, BelgiumKBO/BCE: BE 0546.962.016

Financials · financial year 2025, micro format

Annual accounts 2025 filed on 05-06-2026 PDF all 12 filings

Equity
€525,926▲ 18.9%
2024 · €442,473
Net result
€96,453
2024 · -€44,913
Total assets
€1.6m▼ 1.2%
2024 · €1.6m
Solvency
32.7%▲ 5.5pp
2024 · 27.1%
Trend over the years

2021 to 2025, 5 financial years 2018 to 2025, 8 financial years

The operating result for 2025 is a profit of €131,826, after a loss of €21,116 in 2024. It is the highest result since 2021.

Operating result€0.1m 2025 Net result€0.1m 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).

Every figure with its change against the financial year before
favourable unfavourable
Line20182019202020212022202320242025
Operating result€0.2m-€0.2m▼ 24.0%€0.1m▼ 34.3%-€0.02m€0.04m€0.04m▲ 14.9%-€0.02m€0.1m
Net result€0.2m-€0.1m▼ 23.2%€0.08mabove the sector's middle half▼ 37.1%-€0.04mbelow the sector's middle half€0.007mwithin the sector's middle half€0.01mwithin the sector's middle half▲ 102%-€0.04mbelow the sector's middle half€0.1mabove the sector's middle half
Equity€0.3m-€0.5m▲ 38.8%€0.6mabove the sector's middle half▲ 17.1%€0.5mabove the sector's middle half▼ 7.5%€0.5mabove the sector's middle half▲ 1.0%€0.5mabove the sector's middle half▼ 7.0%€0.4mabove the sector's middle half▼ 9.2%€0.5mabove the sector's middle half▲ 18.9%
Total assets€0.9m-€1.3m▲ 43.2%€1.6mabove the sector's middle half▲ 20.5%€1.9mabove the sector's middle half▲ 16.9%€1.9mabove the sector's middle half▼ 0.8%€1.8mabove the sector's middle half▼ 3.9%€1.6mabove the sector's middle half▼ 8.4%€1.6mabove the sector's middle half▼ 1.2%
Debt€0.6m-€0.8m▲ 45.7%€1.0m▲ 22.5%€1.3m▲ 30.2%€1.3m▼ 1.5%€1.3m▼ 2.7%€1.2m▼ 8.1%€1.1m▼ 8.7%
Working capital€0.3m-€0.3m▼ 9.4%€0.3mabove the sector's middle half▼ 12.1%€0.5mabove the sector's middle half▲ 104%€0.5mabove the sector's middle half▼ 8.8%€0.7mabove the sector's middle half▲ 38.1%€0.6mabove the sector's middle half▼ 10.0%€0.8mabove the sector's middle half▲ 29.2%
Solvency37.3%-36.2%▼ 1.1pp35.2%within the sector's middle half▼ 1.0pp27.8%within the sector's middle half▼ 7.4pp28.3%within the sector's middle half▲ 0.5pp27.4%within the sector's middle half▼ 0.9pp27.1%within the sector's middle half▼ 0.2pp32.7%within the sector's middle half▲ 5.5pp
Current ratio3.28-7.12▲ 3.844.24above the sector's middle half▼ 2.886.41above the sector's middle half▲ 2.176.13above the sector's middle half▼ 0.286.84above the sector's middle half▲ 0.7110.25above the sector's middle half▲ 3.4110.94above the sector's middle half▲ 0.69
Return on assets (ROA)18.7%-10.0%▼ 8.7pp5.2%within the sector's middle half▼ 4.8pp-2.2%below the sector's middle half▼ 7.4pp0.4%below the sector's middle half▲ 2.5pp0.7%below the sector's middle half▲ 0.4pp-2.8%below the sector's middle half▼ 3.5pp6.0%within the sector's middle half▲ 8.7pp
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.
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 €1.6m
Fixed assets €774,422 ▼ 20.9%
Current assets €836,064 ▲ 28.4%
Equity and liabilities €1.6m
Equity €525,926 ▲ 18.9%
Debt €1.1m ▼ 8.7%
Debt's share of the balance-sheet total falls from 72.9% to 67.3%. Equity is higher and debt is lower.
Key figures and ratios
2025 value · change against 2024
ROE
18.3%▲
2024 · -10.2%
Debt ≤ 1 year
€76,395▲
2024 · €63,528
Debt > 1 year
€1.0m▼
2024 · €1.1m
Income taxes
€7,050▲
2024 · €298
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Comparable companies

These companies have the same main activity as ARES: activities of holding companies (NACE 64210). They are comparable in size and age: total assets between €1.5m and €1.7m, founded between 2012 and 2014.

CompanyFoundedTotal assetsEquityGross marginNet resultFTEFinancial year
ARES Brugge2014€1.6m€0.5m€0.2m€0.1m-2025
FEVERY PHARMA Brugge2014€1.5m€1.2m€0.2m€0.2m-2025
SAELENS PHARMA Poperinge2014€1.7m€1.2m€0.2m€0.1m-2025
Hostens Plus Hooglede2014€1.6m€0.7m€0.2m-€0.05m-2025
DELLIES Ieper2012€1.7m€0.4m€0.2m€0.04m-2025
PAUL DEGROOTE & CIE INVEST Wingene2014€1.6m€0.4m€0.2m-€0.06m-2025
G. Depuydt Brugge2013€1.6m€1.1m€0.1m€0.06m02025

They were chosen from the 20,097 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 52 lines

Source: Annual accounts 2025 (PDF), filed on 05-06-2026.

Balance sheet Code20242025
Assets
Total assets20/58€1.6m€1.6m▼
Fixed assets21/28€1.0m€0.8m▼
Tangible fixed assets22/27€1.0m€0.8m▼
Land and buildings22€1.0m€0.8m▼
Plant, machinery and equipment23€0.001m€185▼
Furniture and vehicles24€0.001m€41▼
Financial fixed assets28€178€178=
Current assets29/58€0.7m€0.8m▲
Stocks and contracts in progress3€0.3m€0.3m▲
Stocks30/36€0.3m€0.3m▲
Amounts receivable within one year40/41€0.3m€0.05m▼
Trade receivables40€0.003m€0▼
Other amounts receivable41€0.3m€0.05m▼
Cash at bank and in hand54/58€0.02m€0.5m▲
Deferred charges and accrued income490/1€0.002m€0.002m▲
Equity and liabilities
Total equity and liabilities10/49€1.6m€1.6m▼
Equity10/15€0.4m€0.5m▲
Contributions10/11€0.02m€0.02m=
Reserves13€0.2m€0.2m=
Distributable reserves133€0.2m€0.2m=
Profit (loss) carried forward14€0.3m€0.3m▲
Amounts payable17/49€1.2m€1.1m▼
Amounts payable after more than one year17€1.1m€1.0m▼
Financial debts170/4€1.1m€1.0m▼
Amounts payable within one year42/48€0.06m€0.08m▲
Current portion of amounts payable after more than one year42€0.06m€0.05m▼
Trade debts44€0.007m€0.006m▼
Suppliers440/4€0.007m€0.006m▼
Taxes, remuneration and social security45€240€0.007m▲
Taxes450/3€240€0.007m▲
Other amounts payable47/48€0€0.01m▲
Income statement Code20242025
Non-recurring operating income76A€0€0.1m▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€0.04m€0.03m▼
Other operating charges640/8€0.005m€0.007m▲
Gross operating margin9900€0.02m€0.2m▲
Operating profit (loss)9901-€0.02m€0.1m▲
Financial income75/76B€0.009m€0.006m▼
Recurring financial income75€0.009m€0.006m▼
Financial charges65/66B€0.03m€0.03m▲
Recurring financial charges65€0.03m€0.03m▲
Profit (loss) for the period before taxes9903-€0.04m€0.1m▲
Income taxes67/77€298€0.007m▲
Profit (loss) for the period9904-€0.04m€0.1m▲
Transfer from tax-exempt reserves789€0-
Profit (loss) for the period to be appropriated9905-€0.04m€0.1m▲
Appropriation of the result
Profit (loss) to be appropriated9906€0.3m€0.4m▲
Profit (loss) brought forward from the previous period14P€0.3m€0.3m▼
Transfer to equity691/2€0-
To other reserves6921€0-
Profit to be distributed694/7€0€0.01m▲
Return on contributions (dividend)694€0-
Directors or managers695-€0.01m

The notes to these accounts have 18 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Line20182019202020212022202320242025Change
Non-recurring operating income76A----€83,400€76,107€0€101,754-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€15,437€41,239€28,499€35,521€61,349€35,794€35,589€27,968▼ 21.4%
Other operating charges640/8---€4,545€8,184€6,475€4,926€6,706▲ 36.1%
Gross operating margin9900€270,835€232,045€156,238€17,088€105,206€83,242€19,400€166,500▲ 758%
Operating profit (loss)9901€247,912€188,418€123,779-€22,978€35,673€40,974-€21,116€131,826-
Financial income75/76B---€983€795€2,162€8,857€5,885▼ 33.6%
Recurring financial income75€1,448€2,137€15€983€795€2,162€8,857€5,885▼ 33.6%
Financial charges65/66B---€18,605€29,623€29,571€32,356€34,207▲ 5.7%
Recurring financial charges65€12,359€15,253€18,212€18,333€29,623€29,571€32,356€34,207▲ 5.7%
Non-recurring financial charges66B---€272-----
Profit (loss) for the period before taxes9903€237,001€175,303€105,581-€40,601€6,845€13,564-€44,614€103,503-
Income taxes67/77€63,779€42,348€21,983-€275€294€298€7,050▲ 24×
Profit (loss) for the period9904€173,222€132,955€83,598-€40,601€6,570€13,271-€44,913€96,453-
Transfer from tax-exempt reserves789---€71,200€0€53,400€0--
Profit (loss) for the period to be appropriated9905€210,722€79,555€83,598€30,599€6,570€66,671-€44,913€96,453-
Line20182019202020212022202320242025Change
Assets
Total assets20/58€0.9m€1.3m€1.6m€1.9m€1.9m€1.8m€1.6m€1.6m▼ 1.2%
Fixed assets21/28€0.5m€1.0m€1.3m€1.3m€1.3m€1.0m€1.0m€0.8m▼ 20.9%
Tangible fixed assets22/27€0.5m€1.0m€1.3m€1.3m€1.3m€1.0m€1.0m€0.8m▼ 20.9%
Land and buildings22---€1.2m€1.3m€1.0m€1.0m€0.8m▼ 20.8%
Plant, machinery and equipment23---€0.003m€0.002m€0.001m€0.001m€185▼ 66.8%
Furniture and vehicles24---€0.008m€0.006m€0.003m€0.001m€41▼ 96.6%
Financial fixed assets28€100€178€178€178€178€178€178€178=
Current assets29/58€0.5m€0.3m€0.3m€0.6m€0.6m€0.8m€0.7m€0.8m▲ 28.4%
Stocks and contracts in progress3€0.2m€0.1m€0.1m€0.6m€0.3m€0.3m€0.3m€0.3m▲ 2.3%
Stocks30/36---€0.6m€0.3m€0.3m€0.3m€0.3m▲ 2.3%
Amounts receivable within one year40/41€0.08m€0.06m€0.04m€0.04m€0.01m€0.2m€0.3m€0.05m▼ 84.0%
Trade receivables40---€0.02m€0€0.004m€0.003m€0▼ 100%
Other amounts receivable41---€0.01m€0.01m€0.2m€0.3m€0.05m▼ 83.8%
Cash at bank and in hand54/58€0.1m€0.1m€0.2m€0.01m€0.2m€0.3m€0.02m€0.5m▲ 29×
Deferred charges and accrued income490/1---€0.003m€0.002m€0.002m€0.002m€0.002m▲ 5.7%
Equity and liabilities
Total equity and liabilities10/49€0.9m€1.3m€1.6m€1.9m€1.9m€1.8m€1.6m€1.6m▼ 1.2%
Equity10/15€0.3m€0.5m€0.6m€0.5m€0.5m€0.5m€0.4m€0.5m▲ 18.9%
Contributions10/11€0.02m€0.02m-€0.02m€0.02m€0.02m€0.02m€0.02m=
Reserves13€0.1m€0.2m€0.2m€0.2m€0.2m€0.2m€0.2m€0.2m=
Non-distributable reserves130/1---€0.002m€0----
Reserves not available under the articles1311---€0.002m€0----
Tax-exempt reserves132---€0.05m€0.05m€0---
Distributable reserves133---€0.1m€0.1m€0.2m€0.2m€0.2m=
Profit (loss) carried forward14€0.2m€0.3m€0.4m€0.3m€0.3m€0.3m€0.3m€0.3m▲ 32.3%
Amounts payable17/49€0.6m€0.8m€1.0m€1.3m€1.3m€1.3m€1.2m€1.1m▼ 8.7%
Amounts payable after more than one year17€0.4m€0.8m€1.0m€1.3m€1.2m€1.2m€1.1m€1.0m▼ 10.3%
Financial debts170/4---€1.3m€1.2m€1.2m€1.1m€1.0m▼ 10.3%
Amounts payable within one year42/48€0.1m€0.05m€0.08m€0.1m€0.09m€0.1m€0.06m€0.08m▲ 20.3%
Current portion of amounts payable after more than one year42---€0.05m€0.05m€0.06m€0.06m€0.05m▼ 10.2%
Trade debts44€0.005m€0.005m€0.001m€0.003m€0.004m€0.007m€0.007m€0.006m▼ 15.5%
Suppliers440/4---€0.003m€0.004m€0.007m€0.007m€0.006m▼ 15.5%
Taxes, remuneration and social security45---€272€0.001m€240€240€0.007m▲ 29×
Taxes450/3---€272€0.001m€240€240€0.007m▲ 29×
Other amounts payable47/48---€0.04m€0.03m€0.05m€0€0.01m-
Line20182019202020212022202320242025Change
Profit (loss) for the period9904€173,222€132,955€83,598-€40,601€6,570€13,271-€44,913€96,453-
+ Depreciation and write-downs630€15,437€41,239€28,499€35,521€61,349€35,794€35,589€27,968▼ 21.4%
Operating cash flow (approximation)€188,659€174,194€112,097-€5,080€67,918€49,064-€9,323€124,422-
Investment in fixed assets (approximation)--€563,809-€304,021-€25,021-€95,076€236,354€0€176,278-
Change in cash--€2,297€9,458-€138,302€220,799€50,290-€269,748€442,474-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Latest 10 of 12 filings with the National Bank
Financial year Type Filed Reference Document
31-12-2025 micro format 05-06-2026 2026-00139741 PDF
31-12-2024 micro format 30-06-2025 2025-00196570 PDF
31-12-2023 micro format 05-06-2024 2024-00110429 PDF
31-12-2022 micro format 05-07-2023 2023-00203466 PDF
31-12-2021 micro format 27-06-2022 2022-20094475 PDF
31-12-2020 micro format 04-06-2021 2021-17000599 PDF
31-12-2019 abbreviated format 09-07-2020 2020-27200152 PDF
31-12-2018 abbreviated format 07-06-2019 2019-16400385 PDF
31-12-2017 abbreviated format 22-06-2018 2018-20900558 PDF
31-12-2016 micro format 21-06-2017 2017-18900346 PDF

Show all 12 filings

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