Financials · financial year 2025, micro format
Annual accounts 2025 filed on 11-06-2026 PDF all 8 filings
Equity
€150,497▼ 80.6%
2024 · €777,530
Net result
€279,968▲ 14×
2024 · €20,463
Total assets
€303,545▼ 72.5%
2024 · €1.1m
Solvency
49.6%▼ 20.9pp
2024 · 70.5%
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€11,403
▼ 20.9%
2025
20182025
Net result
€279,968
▲ 14×
2025
highest quarter of the sector
20182025
Equity
€150,497
▼ 80.6%
2025
middle half of the sector
20182025
Total assets
€303,545
▼ 72.5%
2025
middle half of the sector
20182025
Debt
€153,048
▼ 53.1%
2025
20182025
Working capital
-€148,754
2025
lowest quarter of the sector
20182025
Solvency
49.6%
▼ 20.9pp
2025
middle half of the sector
20182025
Current ratio
0.03
▼ 1.04
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
92.2%
▲ 90.4pp
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.03m-€0.2m▲ 437%€0.2m▼ 4.6%€0.2m▲ 23.5%€0.3m▲ 29.3%€0.1m▼ 46.0%-€0.009m-€0.01m▼ 20.9%
Net result€0.02m-€0.1m▲ 415%€0.1mabove the sector's middle half▲ 1.6%€0.2mabove the sector's middle half▲ 23.9%€0.2mabove the sector's middle half▲ 25.2%€0.1mabove the sector's middle half▼ 42.9%€0.02mwithin the sector's middle half▼ 81.7%€0.3mabove the sector's middle half▲ 14×
Equity€0.04m-€0.2m▲ 340%€0.3mwithin the sector's middle half▲ 78.5%€0.4mabove the sector's middle half▲ 56.6%€0.6mabove the sector's middle half▲ 43.5%€0.8mabove the sector's middle half▲ 17.3%€0.8mabove the sector's middle half▲ 2.7%€0.2mwithin the sector's middle half▼ 80.6%
Total assets€0.07m-€0.2m▲ 224%€0.3mwithin the sector's middle half▲ 59.0%€0.5mwithin the sector's middle half▲ 37.5%€0.7mwithin the sector's middle half▲ 40.9%€0.8mwithin the sector's middle half▲ 15.7%€1.1mabove the sector's middle half▲ 43.7%€0.3mwithin the sector's middle half▼ 72.5%
Debt€0.03m-€0.05m▲ 82.2%€0.06m▲ 1.6%€0.02m▼ 61.3%€0.02m▼ 13.4%€0.01m▼ 40.2%€0.3m▲ 29×€0.2m▼ 53.1%
Working capital€0.03m-€0.2m▲ 357%€0.3mabove the sector's middle half▲ 79.2%€0.4mabove the sector's middle half▲ 56.6%€0.4mabove the sector's middle half▼ 12.0%€0.4mabove the sector's middle half▲ 13.6%€0.02mwithin the sector's middle half▼ 94.8%-€0.1mbelow the sector's middle half
Solvency54.8%-74.6%▲ 19.7pp83.7%above the sector's middle half▲ 9.2pp95.4%above the sector's middle half▲ 11.7pp97.2%above the sector's middle half▲ 1.8pp98.5%above the sector's middle half▲ 1.4pp70.5%within the sector's middle half▼ 28.1pp49.6%within the sector's middle half▼ 20.9pp
Current ratio2.84-4.35▲ 1.516.46above the sector's middle half▲ 2.1021.76above the sector's middle half▲ 15.3022.10above the sector's middle half▲ 0.3441.07above the sector's middle half▲ 18.971.07within the sector's middle half▼ 40.000.03below the sector's middle half▼ 1.04
Return on assets (ROA)36.2%-57.6%▲ 21.4pp36.8%above the sector's middle half▼ 20.8pp33.2%above the sector's middle half▼ 3.6pp29.5%above the sector's middle half▼ 3.7pp14.5%within the sector's middle half▼ 14.9pp1.9%within the sector's middle half▼ 12.7pp92.2%above the sector's middle half▲ 90.4pp
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 €11,403, larger than the loss of €9,434 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €303,545
Fixed assets
€299,251 ▼ 60.3%
Current assets
€4,294 ▼ 98.8%
Equity and liabilities €303,545
Equity
€150,497 ▼ 80.6%
Debt
€153,048 ▼ 53.1%
Debt's share of the balance-sheet total rises from 29.5% to 50.4%. Equity and debt are lower.
Key figures and ratios
ROE
186.0%▲
2024 · 2.6%
Debt ≤ 1 year
€153,048▼
2024 · €326,120
Income taxes
€94,804▲
2024 · €9,002
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 | €1,329 | €617 | €1,939 | - | - |
| Financial fixed assets | - | €249,831 | €176,805 | €904,210 | €180,957 |
| Depreciation and write-downs of the year | €4,117 | €991 | €848 | - | - |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €261 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,142 | €4,280 | €4,188 | €4,117 | €991 | €848 | - | - | - |
| Other operating charges640/8 | - | - | - | €1,109 | €574 | €1,689 | €1,253 | €1,557 | ▲ 24.3% |
| Non-recurring operating charges66A | - | - | - | - | €53 | - | - | - | - |
| Gross operating margin9900 | €35,347 | €170,183 | €162,507 | €200,320 | €253,799 | €138,840 | -€8,180 | -€9,845 | ▼ 20.4% |
| Operating profit (loss)9901 | €30,797 | €165,530 | €157,940 | €195,093 | €252,181 | €136,303 | -€9,434 | -€11,403 | ▼ 20.9% |
| Financial income75/76B | - | - | - | €8,140 | €10,681 | €15,800 | €60,571 | €396,116 | ▲ 554% |
| Recurring financial income75 | - | €0 | €4,623 | €8,140 | €10,681 | €14,314 | €47,077 | €213,149 | ▲ 353% |
| Non-recurring financial income76B | - | - | - | - | - | €1,486 | €13,494 | €182,967 | ▲ 14× |
| Financial charges65/66B | - | - | - | €151 | €1,149 | €1,235 | €21,672 | €9,941 | ▼ 54.1% |
| Recurring financial charges65 | €50 | €266 | €224 | €151 | €1,149 | €1,235 | €16,062 | €9,941 | ▼ 38.1% |
| Non-recurring financial charges66B | - | - | - | - | - | - | €5,611 | - | - |
| Profit (loss) for the period before taxes9903 | €30,748 | €165,264 | €162,339 | €203,083 | €261,713 | €150,869 | €29,465 | €374,772 | ▲ 13× |
| Income taxes67/77 | €6,620 | €40,987 | €36,111 | €46,715 | €65,949 | €39,168 | €9,002 | €94,804 | ▲ 953% |
| Profit (loss) for the period9904 | €24,128 | €124,278 | €126,228 | €156,368 | €195,764 | €111,701 | €20,463 | €279,968 | ▲ 14× |
| Profit (loss) for the period to be appropriated9905 | €24,128 | €124,278 | €126,228 | €156,368 | €195,764 | €111,701 | €20,463 | €279,968 | ▲ 14× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.07m | €0.2m | €0.3m | €0.5m | €0.7m | €0.8m | €1.1m | €0.3m | ▼ 72.5% |
| Formation expenses20 | €0.001m | €0.001m | €422 | €211 | - | - | - | - | - |
| Fixed assets21/28 | €0.01m | €0.008m | €0.004m | €0.001m | €0.3m | €0.3m | €0.8m | €0.3m | ▼ 60.3% |
| Tangible fixed assets22/27 | €0.01m | €0.008m | €0.004m | €0.001m | €0.001m | €0.002m | - | - | - |
| Furniture and vehicles24 | - | - | - | €0.001m | €0.001m | €0.002m | - | - | - |
| Financial fixed assets28 | - | - | - | - | €0.2m | €0.3m | €0.8m | €0.3m | ▼ 60.3% |
| Current assets29/58 | €0.05m | €0.2m | €0.3m | €0.5m | €0.4m | €0.5m | €0.3m | €0.004m | ▼ 98.8% |
| Amounts receivable after more than one year29 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | - | - |
| Other amounts receivable291 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | - | - |
| Amounts receivable within one year40/41 | €0.02m | €0.03m | €0.03m | €0.05m | €0.08m | €0.003m | €0.005m | €0.003m | ▼ 42.8% |
| Trade receivables40 | - | - | - | €0.05m | €0.08m | €53 | €101 | - | - |
| Other amounts receivable41 | - | - | - | - | - | €0.003m | €0.005m | €0.003m | ▼ 41.5% |
| Cash at bank and in hand54/58 | €0.03m | €0.2m | €0.03m | €0.1m | €0.06m | €0.2m | €0.02m | €0.001m | ▼ 93.0% |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €350 | ▼ 73.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.07m | €0.2m | €0.3m | €0.5m | €0.7m | €0.8m | €1.1m | €0.3m | ▼ 72.5% |
| Equity10/15 | €0.04m | €0.2m | €0.3m | €0.4m | €0.6m | €0.8m | €0.8m | €0.2m | ▼ 80.6% |
| Contributions10/11 | €0.01m | €0.01m | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.02m | €0.1m | €0.3m | €0.4m | €0.6m | €0.7m | €0.8m | €0.1m | ▼ 82.6% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Distributable reserves133 | - | - | - | €0.4m | €0.6m | €0.7m | €0.8m | €0.1m | ▼ 82.8% |
| Amounts payable17/49 | €0.03m | €0.05m | €0.06m | €0.02m | €0.02m | €0.01m | €0.3m | €0.2m | ▼ 53.1% |
| Amounts payable after more than one year17 | €0.01m | €0.007m | €0.003m | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €0.02m | €0.05m | €0.05m | €0.02m | €0.02m | €0.01m | €0.3m | €0.2m | ▼ 53.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.003m | - | - | - | - | - |
| Trade debts44 | €0.001m | €0.002m | €0.003m | €0.002m | €0.002m | €0.002m | €0.001m | €0.001m | ▼ 8.9% |
| Suppliers440/4 | - | - | - | €0.002m | €0.002m | €0.002m | €0.001m | €0.001m | ▼ 8.9% |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.02m | €0.009m | €300 | €300 | = |
| Taxes450/3 | - | - | - | €0.02m | €0.02m | €0.009m | €300 | €300 | = |
| Other amounts payable47/48 | - | - | - | - | - | - | €0.3m | €0.2m | ▼ 53.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24,128 | €124,278 | €126,228 | €156,368 | €195,764 | €111,701 | €20,463 | €279,968 | ▲ 14× |
| + Depreciation and write-downs630 | €4,142 | €4,280 | €4,188 | €4,117 | €991 | €848 | - | - | - |
| Operating cash flow (approximation) | €28,270 | €128,558 | €130,416 | €160,485 | €196,756 | €112,548 | €20,463 | €279,968 | ▲ 14× |
| Investment in fixed assets (approximation) | - | -€211 | -€211 | -€1,540 | -€250,659 | -€58,922 | -€445,269 | €455,022 | - |
| Change in cash | - | €139,657 | -€140,163 | €111,413 | -€86,419 | €122,553 | -€161,973 | -€17,132 | ▲ 89.4% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (8)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 11-06-2026 | 2026-00153752 | |
| 31-12-2024 | micro format | 26-05-2025 | 2025-00110278 | |
| 31-12-2023 | micro format | 16-05-2024 | 2024-00094395 | |
| 31-12-2022 | micro format | 22-05-2023 | 2023-00091190 | |
| 31-12-2021 | micro format | 20-05-2022 | 2022-20032535 | |
| 31-12-2020 | micro format | 19-05-2021 | 2021-14600112 | |
| 31-12-2019 | micro format | 04-06-2020 | 2020-15300338 | |
| 31-12-2018 | micro format | 29-05-2019 | 2019-15200561 |