Financials · financial year 2025, abbreviated format
2025 annual accounts filed 61 days after the deadline Filed on 30 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00536027.
Annual accounts 2025 filed on 30-09-2026 at the NBB all 24 filings
Equity
€84,201▲ 0.5%
2024 · €83,760
Net result
€195,441▲ 138%
2024 · €82,002
Total assets
€339,379▲ 24.8%
2024 · €271,958
Solvency
24.8%▼ 6.0pp
2024 · 30.8%
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€270,203
▲ 126%
2025
20182025
Net result
€195,441
▲ 138%
2025
middle half of the sector
20182025
Equity
€84,201
▲ 0.5%
2025
middle half of the sector
20182025
Total assets
€339,379
▲ 24.8%
2025
lowest quarter of the sector
20182025
Debt
€255,178
▲ 35.6%
2025
20182025
Working capital
€55,156
▲ 22.0%
2025
middle half of the sector
20182025
Solvency
24.8%
▼ 6.0pp
2025
middle half of the sector
20182025
Current ratio
1.22
▼ 0.02
2025
middle half of the sector
20182025
Return on assets (ROA)
57.6%
▲ 27.4pp
2025
highest quarter of the sector
20182025
Staff (FTE)
4.2
▼ 12.5%
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€25,225-€108,203▲ 329%€116,403▲ 7.6%€236,883▲ 104%€212,363▼ 10.4%€309,141▲ 45.6%€119,366▼ 61.4%€270,203▲ 126%
Net result€9,545-€76,736▲ 704%€92,827above the sector's middle half▲ 21.0%€200,901above the sector's middle half▲ 116%€146,301above the sector's middle half▼ 27.2%€233,199above the sector's middle half▲ 59.4%€82,002within the sector's middle half▼ 64.8%€195,441within the sector's middle half▲ 138%
Equity€55,005-€81,741▲ 48.6%€82,568within the sector's middle half▲ 1.0%€82,568within the sector's middle half=€82,869within the sector's middle half▲ 0.4%€83,688below the sector's middle half▲ 1.0%€83,760below the sector's middle half▲ 0.1%€84,201within the sector's middle half▲ 0.5%
Total assets€178,832-€240,978▲ 34.8%€248,890within the sector's middle half▲ 3.3%€343,989within the sector's middle half▲ 38.2%€303,296within the sector's middle half▼ 11.8%€370,546below the sector's middle half▲ 22.2%€271,958below the sector's middle half▼ 26.6%€339,379below the sector's middle half▲ 24.8%
Debt€123,827-€159,237▲ 28.6%€166,322▲ 4.4%€261,420▲ 57.2%€220,427▼ 15.7%€286,858▲ 30.1%€188,198▼ 34.4%€255,178▲ 35.6%
Working capital€3,106-€51,735▲ 17×€77,805within the sector's middle half▲ 50.4%€98,412within the sector's middle half▲ 26.5%€67,733within the sector's middle half▼ 31.2%€60,219within the sector's middle half▼ 11.1%€45,202within the sector's middle half▼ 24.9%€55,156within the sector's middle half▲ 22.0%
Solvency30.8%-33.9%▲ 3.2pp33.2%within the sector's middle half▼ 0.7pp24.0%within the sector's middle half▼ 9.2pp27.3%within the sector's middle half▲ 3.3pp22.6%within the sector's middle half▼ 4.7pp30.8%within the sector's middle half▲ 8.2pp24.8%within the sector's middle half▼ 6.0pp
Current ratio1.03-1.35▲ 0.321.49within the sector's middle half▲ 0.141.42within the sector's middle half▼ 0.071.31within the sector's middle half▼ 0.111.21within the sector's middle half▼ 0.101.24within the sector's middle half▲ 0.031.22within the sector's middle half▼ 0.02
Return on assets (ROA)5.3%-31.8%▲ 26.5pp37.3%above the sector's middle half▲ 5.5pp58.4%above the sector's middle half▲ 21.1pp48.2%above the sector's middle half▼ 10.2pp62.9%above the sector's middle half▲ 14.7pp30.2%above the sector's middle half▼ 32.8pp57.6%above the sector's middle half▲ 27.4pp
Staff (FTE)4-3.8▼ 5.0%3.8above the sector's middle half=4.1▲ 7.9%3.6▼ 12.2%4.6within the sector's middle half▲ 27.8%4.8within the sector's middle half▲ 4.3%4.2within the sector's middle half▼ 12.5%
above
within
below
The sector band is the middle half of the companies in Activities auxiliary to financial services and insurance activities (NACE 66). 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 126% higher than in 2024. It is a recovery after the fall in 2024.
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 €339,379
Fixed assets
€29,045 ▼ 24.7%
Current assets
€310,334 ▲ 33.0%
Equity and liabilities €339,379
Equity
€84,201 ▲ 0.5%
Debt
€255,178 ▲ 35.6%
Debt's share of the balance-sheet total rises from 69.2% to 75.2%. Equity and debt are higher.
Key figures and ratios
ROE
232.1%▲
2024 · 97.9%
Debt ≤ 1 year
€255,178▲
2024 · €188,198
Income taxes
€70,916▲
2024 · €35,896
Staff costs
€282,824▼
2024 · €336,068
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 | 4 | 5 | 6 | 6 | 5 |
| full-time | 1 | 2 | 2 | 3 | 2 |
| part-time | 3 | 3 | 4 | 3 | 3 |
| in full-time equivalents | 3.2 | 4 | 4.2 | 4.9 | 4.1 |
| Average over the year, in full-time equivalents | 4.1 | 3.6 | 4.6 | 4.8 | 4.2 |
| On a permanent contract | 4 | 5 | 5 | 6 | 5 |
| Joined | 2 | 1 | 3 | 4 | 1 |
| Left | 2 | 0 | 2 | 4 | 2 |
| Training hours | - | - | 0 | - | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €1,334 | €8,400 | €17,988 | - |
| Intangible fixed assets | €7,725 | €7,896 | €5,453 | €4,305 | - |
| Depreciation and write-downs of the year | €8,532 | €5,222 | €6,120 | €7,204 | €9,513 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €2,897 awarded · €2,897 paidSchemes
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €14,772 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €208,520 | €210,801 | €300,281 | €336,068 | €282,824 | ▼ 15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €40,117 | €45,276 | €18,434 | €8,532 | €5,222 | €6,120 | €7,204 | €9,513 | ▲ 32.1% |
| Other operating charges640/8 | - | - | - | €9,627 | €10,584 | €17,849 | €757 | €713 | ▼ 5.8% |
| Gross operating margin9900 | €269,582 | €335,557 | €342,449 | €463,561 | €438,971 | €633,391 | €463,395 | €563,253 | ▲ 21.5% |
| Operating profit (loss)9901 | €25,225 | €108,203 | €116,403 | €236,883 | €212,363 | €309,141 | €119,366 | €270,203 | ▲ 126% |
| Financial income75/76B | - | - | - | €17 | - | €128 | €2,950 | €1,225 | ▼ 58.5% |
| Recurring financial income75 | €0 | - | €2 | €17 | - | €128 | €2,950 | €1,225 | ▼ 58.5% |
| Financial charges65/66B | - | - | - | €1,451 | €1,251 | €4,515 | €4,418 | €5,072 | ▲ 14.8% |
| Recurring financial charges65 | €2,328 | €1,467 | €1,956 | €1,451 | €1,251 | €4,515 | €4,418 | €5,072 | ▲ 14.8% |
| Profit (loss) for the period before taxes9903 | €22,897 | €106,736 | €117,827 | €235,449 | €211,112 | €304,754 | €117,898 | €266,357 | ▲ 126% |
| Income taxes67/77 | €13,352 | €30,000 | €25,000 | €34,548 | €64,811 | €71,556 | €35,896 | €70,916 | ▲ 97.6% |
| Profit (loss) for the period9904 | €9,545 | €76,736 | €92,827 | €200,901 | €146,301 | €233,199 | €82,002 | €195,441 | ▲ 138% |
| Profit (loss) for the period to be appropriated9905 | €9,545 | €76,736 | €92,827 | €200,901 | €146,301 | €233,199 | €82,002 | €195,441 | ▲ 138% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €178,832 | €240,978 | €248,890 | €343,989 | €303,296 | €370,546 | €271,958 | €339,379 | ▲ 24.8% |
| Fixed assets21/28 | €68,030 | €41,973 | €12,536 | €11,729 | €15,737 | €23,469 | €38,558 | €29,045 | ▼ 24.7% |
| Intangible fixed assets21 | €4,942 | €4,761 | €4,342 | €10,113 | €13,583 | €14,022 | €13,491 | €8,415 | ▼ 37.6% |
| Tangible fixed assets22/27 | €62,188 | €36,312 | €7,294 | €716 | €1,254 | €8,547 | €24,167 | €19,729 | ▼ 18.4% |
| Land and buildings22 | - | - | - | €0 | €0 | €8,096 | €7,256 | €6,416 | ▼ 11.6% |
| Plant, machinery and equipment23 | - | - | - | €0 | €896 | €451 | €16,911 | €13,313 | ▼ 21.3% |
| Furniture and vehicles24 | - | - | - | €716 | €358 | €0 | - | - | - |
| Financial fixed assets28 | €900 | €900 | €900 | €900 | €900 | €900 | €900 | €900 | = |
| Current assets29/58 | €110,802 | €199,005 | €236,355 | €332,260 | €287,559 | €347,077 | €233,400 | €310,334 | ▲ 33.0% |
| Amounts receivable within one year40/41 | €56,631 | €41,880 | €44,714 | €56,284 | €15,691 | €58,258 | €99,636 | €103,085 | ▲ 3.5% |
| Trade receivables40 | - | - | - | €56,284 | €5,691 | €47,108 | €69,377 | €71,690 | ▲ 3.3% |
| Other amounts receivable41 | - | - | - | - | €10,000 | €11,150 | €30,259 | €31,395 | ▲ 3.8% |
| Current investments50/53 | €799 | €799 | - | €25,000 | €128,750 | €188,394 | €97,293 | €130,912 | ▲ 34.6% |
| Cash at bank and in hand54/58 | €51,961 | €152,337 | €191,009 | €250,976 | €143,118 | €100,426 | €32,346 | €73,343 | ▲ 127% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | €4,125 | €2,993 | ▼ 27.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €178,832 | €240,978 | €248,890 | €343,989 | €303,296 | €370,546 | €271,958 | €339,379 | ▲ 24.8% |
| Equity10/15 | €55,005 | €81,741 | €82,568 | €82,568 | €82,869 | €83,688 | €83,760 | €84,201 | ▲ 0.5% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €36,405 | €63,141 | €63,968 | €63,968 | €64,269 | €65,088 | €65,160 | €65,601 | ▲ 0.7% |
| 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 | = |
| Tax-exempt reserves132 | - | - | - | €25,000 | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Distributable reserves133 | - | - | - | €37,108 | €37,409 | €38,228 | €38,300 | €38,741 | ▲ 1.2% |
| Amounts payable17/49 | €123,827 | €159,237 | €166,322 | €261,420 | €220,427 | €286,858 | €188,198 | €255,178 | ▲ 35.6% |
| Amounts payable after more than one year17 | €16,131 | €11,967 | €7,772 | €3,546 | - | - | - | - | - |
| Financial debts170/4 | - | - | - | €3,546 | - | - | - | - | - |
| Amounts payable within one year42/48 | €107,696 | €147,270 | €158,550 | €233,847 | €219,827 | €286,858 | €188,198 | €255,178 | ▲ 35.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €4,226 | - | - | - | €4,210 | - |
| Trade debts44 | €2,644 | €77,574 | €3,461 | €3,882 | €35,426 | €17,413 | €25,235 | €6,230 | ▼ 75.3% |
| Suppliers440/4 | - | - | - | €3,882 | €35,426 | €17,413 | €25,235 | €6,230 | ▼ 75.3% |
| Taxes, remuneration and social security45 | - | - | - | €18,823 | €37,285 | €36,416 | €32,817 | €45,407 | ▲ 38.4% |
| Taxes450/3 | - | - | - | - | €13,785 | €5,320 | - | €20,554 | - |
| Remuneration and social security454/9 | - | - | - | €18,823 | €23,500 | €31,096 | €32,817 | €24,853 | ▼ 24.3% |
| Other amounts payable47/48 | - | - | - | €206,916 | €147,115 | €233,029 | €130,146 | €199,331 | ▲ 53.2% |
| Accrued charges and deferred income492/3 | - | - | - | €24,027 | €600 | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9,545 | €76,736 | €92,827 | €200,901 | €146,301 | €233,199 | €82,002 | €195,441 | ▲ 138% |
| + Depreciation and write-downs630 | €40,117 | €45,276 | €18,434 | €8,532 | €5,222 | €6,120 | €7,204 | €9,513 | ▲ 32.1% |
| Operating cash flow (approximation) | €49,662 | €122,012 | €111,261 | €209,432 | €151,523 | €239,319 | €89,206 | €204,954 | ▲ 130% |
| Investment in fixed assets (approximation) | - | -€19,220 | €11,004 | -€7,725 | -€9,230 | -€13,853 | -€22,293 | €0 | - |
| Change in cash | - | €100,376 | €38,672 | €59,966 | -€107,858 | -€42,692 | -€68,080 | €40,998 | - |
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 24 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 30-09-2026 | 2026-00536027 | |
| 31-12-2024 | abbreviated format | 31-08-2025 | 2025-00455222 | |
| 31-12-2023 | abbreviated format | 31-07-2024 | 2024-00312053 | |
| 31-12-2022 | micro format | 28-10-2023 | 2023-00498106 | |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20370489 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-60800023 | |
| 31-12-2019 | micro format | 31-10-2020 | 2020-68500226 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-59700226 | |
| 31-12-2017 | micro format | 09-08-2018 | 2018-44700267 | |
| 31-12-2016 | micro format | 31-07-2017 | 2017-41200300 |