Financials · financial year 2025, micro format
Annual accounts 2025 filed on 25-02-2026 PDF all 4 filings
Equity
€500▼ 99.9%
2024 · €451,057
Net result
€401,876▲ 47.5%
2024 · €272,517
Total assets
€415,977▼ 22.5%
2024 · €536,843
Solvency
0.1%▼ 83.9pp
2024 · 84.0%
Multi-year overview
2022 to 2025, 4 financial yearsOperating result
€532,422
▲ 51.4%
2025
20222025
Net result
€401,876
▲ 47.5%
2025
highest quarter of the sector
20222025
Equity
€500
▼ 99.9%
2025
lowest quarter of the sector
20222025
Total assets
€415,977
▼ 22.5%
2025
middle half of the sector
20222025
Debt
€415,477
▲ 384%
2025
20222025
Working capital
-€119,590
2025
lowest quarter of the sector
20222025
Solvency
0.1%
▼ 83.9pp
2025
lowest quarter of the sector
20222025
Current ratio
0.71
▼ 2.70
2025
lowest quarter of the sector
20222025
Return on assets (ROA)
96.6%
▲ 45.8pp
2025
highest 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€48,850-€184,228▲ 277%€351,658▲ 90.9%€532,422▲ 51.4%
Net result€38,099within the sector's middle half-€141,575above the sector's middle half▲ 272%€272,517above the sector's middle half▲ 92.5%€401,876above the sector's middle half▲ 47.5%
Equity€37,799below the sector's middle half-€178,540within the sector's middle half▲ 372%€451,057above the sector's middle half▲ 153%€500below the sector's middle half▼ 99.9%
Total assets€62,157below the sector's middle half-€222,217within the sector's middle half▲ 258%€536,843within the sector's middle half▲ 142%€415,977within the sector's middle half▼ 22.5%
Debt€24,358-€43,677▲ 79.3%€85,787▲ 96.4%€415,477▲ 384%
Working capital€33,056within the sector's middle half-€154,168above the sector's middle half▲ 366%€204,838above the sector's middle half▲ 32.9%-€119,590below the sector's middle half
Solvency60.8%within the sector's middle half-80.3%above the sector's middle half▲ 19.5pp84.0%above the sector's middle half▲ 3.7pp0.1%below the sector's middle half▼ 83.9pp
Current ratio2.36within the sector's middle half-4.60above the sector's middle half▲ 2.243.41within the sector's middle half▼ 1.190.71below the sector's middle half▼ 2.70
Return on assets (ROA)61.3%above the sector's middle half-63.7%above the sector's middle half▲ 2.4pp50.8%above the sector's middle half▼ 12.9pp96.6%above the sector's middle half▲ 45.8pp
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 51% higher than in 2024 and the highest since 2022. It is the third rise in a row.
Turnover and EBIT margin are not published. The 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 €415,977
Fixed assets
€120,651 ▼ 51.2%
Current assets
€295,326 ▲ 1.9%
Equity and liabilities €415,977
Equity
€500 ▼ 99.9%
Debt
€415,477 ▲ 384%
Debt's share of the balance-sheet total rises from 16.0% to 99.9%. Equity is lower and debt is higher.
Key figures and ratios
Debt ≤ 1 year
€414,916▲
2024 · €84,928
Income taxes
€130,184▲
2024 · €84,001
The equity ratios are withheld because equity of €500 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €3,765 | €23,077 | €58,628 | €54,739 |
| Financial fixed assets | - | - | €170,000 | €0 |
| Depreciation and write-downs of the year | €1,951 | €2,615 | €6,756 | €11,125 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,951 | €2,615 | €6,756 | €11,125 | ▲ 64.7% |
| Other operating charges640/8 | €147 | €274 | €507 | €272 | ▼ 46.4% |
| Gross operating margin9900 | €50,948 | €187,117 | €358,921 | €543,819 | ▲ 51.5% |
| Operating profit (loss)9901 | €48,850 | €184,228 | €351,658 | €532,422 | ▲ 51.4% |
| Financial income75/76B | - | - | €5,903 | €1,166 | ▼ 80.2% |
| Recurring financial income75 | - | - | €5,903 | €1,166 | ▼ 80.2% |
| Financial charges65/66B | €751 | €1,162 | €1,043 | €1,529 | ▲ 46.5% |
| Recurring financial charges65 | €751 | €1,162 | €1,043 | €1,529 | ▲ 46.5% |
| Profit (loss) for the period before taxes9903 | €48,099 | €183,066 | €356,518 | €532,060 | ▲ 49.2% |
| Income taxes67/77 | €10,000 | €41,492 | €84,001 | €130,184 | ▲ 55.0% |
| Profit (loss) for the period9904 | €38,099 | €141,575 | €272,517 | €401,876 | ▲ 47.5% |
| Profit (loss) for the period to be appropriated9905 | €38,099 | €141,575 | €272,517 | €401,876 | ▲ 47.5% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €62,157 | €222,217 | €536,843 | €415,977 | ▼ 22.5% |
| Formation expenses20 | €1,017 | €0 | - | - | - |
| Fixed assets21/28 | €3,726 | €25,206 | €247,078 | €120,651 | ▼ 51.2% |
| Tangible fixed assets22/27 | €3,726 | €25,206 | €77,078 | €120,651 | ▲ 56.5% |
| Land and buildings22 | €2,546 | €24,301 | €70,627 | €0 | ▼ 100% |
| Plant, machinery and equipment23 | €932 | €744 | €555 | €367 | ▼ 33.9% |
| Furniture and vehicles24 | €248 | €162 | €5,896 | €9,469 | ▲ 60.6% |
| Other tangible fixed assets26 | - | - | - | €110,815 | - |
| Financial fixed assets28 | - | - | €170,000 | €0 | ▼ 100% |
| Current assets29/58 | €57,414 | €197,011 | €289,765 | €295,326 | ▲ 1.9% |
| Amounts receivable within one year40/41 | €26,777 | €33,842 | €107,026 | €150,341 | ▲ 40.5% |
| Trade receivables40 | €25,858 | €32,819 | €103,822 | €106,837 | ▲ 2.9% |
| Other amounts receivable41 | €919 | €1,023 | €3,205 | €43,504 | ▲ 14× |
| Current investments50/53 | - | €120,000 | €60,000 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €28,985 | €41,553 | €120,347 | €143,144 | ▲ 18.9% |
| Deferred charges and accrued income490/1 | €1,652 | €1,617 | €2,392 | €1,841 | ▼ 23.1% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €62,157 | €222,217 | €536,843 | €415,977 | ▼ 22.5% |
| Equity10/15 | €37,799 | €178,540 | €451,057 | €500 | ▼ 99.9% |
| Contributions10/11 | €500 | €500 | €500 | €500 | = |
| Reserves13 | €37,299 | €178,040 | €450,557 | €0 | ▼ 100% |
| Distributable reserves133 | €37,299 | €178,040 | €450,557 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €24,358 | €43,677 | €85,787 | €415,477 | ▲ 384% |
| Amounts payable within one year42/48 | €24,358 | €42,844 | €84,928 | €414,916 | ▲ 389% |
| Financial debts43 | - | - | - | €1,819 | - |
| Credit institutions430/8 | - | - | - | €31 | - |
| Other loans439 | - | - | - | €1,788 | - |
| Trade debts44 | €2,727 | €478 | €251 | €3,769 | ▲ 15× |
| Suppliers440/4 | €2,727 | €478 | €251 | €3,769 | ▲ 15× |
| Taxes, remuneration and social security45 | €10,000 | €42,366 | €84,677 | €7,451 | ▼ 91.2% |
| Taxes450/3 | €10,000 | €42,366 | €84,677 | €7,451 | ▼ 91.2% |
| Other amounts payable47/48 | €11,631 | €0 | - | €401,876 | - |
| Accrued charges and deferred income492/3 | - | €833 | €859 | €561 | ▼ 34.6% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €38,099 | €141,575 | €272,517 | €401,876 | ▲ 47.5% |
| + Depreciation and write-downs630 | €1,951 | €2,615 | €6,756 | €11,125 | ▲ 64.7% |
| Operating cash flow (approximation) | €40,050 | €144,189 | €279,272 | €413,001 | ▲ 47.9% |
| Investment in fixed assets (approximation) | - | -€24,094 | -€228,628 | €115,302 | - |
| Change in cash | - | €12,568 | €78,794 | €22,797 | ▼ 71.1% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.