Financials · financial year 2025, micro format
Annual accounts 2025 filed on 29-06-2026 at the NBB all 6 filings
Equity
€572,856▲ 3.1%
2024 · €555,616
Net result
€74,740▼ 55.7%
2024 · €168,734
Total assets
€844,559▼ 2.4%
2024 · €865,690
Solvency
67.8%▲ 3.6pp
2024 · 64.2%
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
€83,577
▲ 5.6%
2025
20202025
Net result
€74,740
▼ 55.7%
2025
middle half of the sector
20202025
Equity
€572,856
▲ 3.1%
2025
highest quarter of the sector
20202025
Total assets
€844,559
▼ 2.4%
2025
middle half of the sector
20202025
Debt
€271,703
▼ 12.4%
2025
20202025
Working capital
€85,241
▲ 11.2%
2025
middle half of the sector
20202025
Solvency
67.8%
▲ 3.6pp
2025
middle half of the sector
20202025
Current ratio
2.19
▼ 0.09
2025
middle half of the sector
20202025
Return on assets (ROA)
8.8%
▼ 10.6pp
2025
middle half of the sector
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€64,037--€1,091€118,818€95,257▼ 19.8%€79,137▼ 16.9%€83,577▲ 5.6%
Net result€59,001within the sector's middle half-€59,950within the sector's middle half▲ 1.6%€90,685above the sector's middle half▲ 51.3%€141,483above the sector's middle half▲ 56.0%€168,734above the sector's middle half▲ 19.3%€74,740within the sector's middle half▼ 55.7%
Equity€109,001within the sector's middle half-€168,951within the sector's middle half▲ 55.0%€259,636within the sector's middle half▲ 53.7%€406,882above the sector's middle half▲ 56.7%€555,616above the sector's middle half▲ 36.6%€572,856above the sector's middle half▲ 3.1%
Total assets€473,669within the sector's middle half-€495,545within the sector's middle half▲ 4.6%€948,987above the sector's middle half▲ 91.5%€982,628above the sector's middle half▲ 3.5%€865,690within the sector's middle half▼ 11.9%€844,559within the sector's middle half▼ 2.4%
Debt€364,668-€326,594▼ 10.4%€689,351▲ 111%€575,746▼ 16.5%€310,074▼ 46.1%€271,703▼ 12.4%
Working capital-€37,439within the sector's middle half--€41,126below the sector's middle half▼ 9.8%-€29,610below the sector's middle half▲ 28.0%-€60,553below the sector's middle half▼ 105%€76,633within the sector's middle half€85,241within the sector's middle half▲ 11.2%
Solvency23.0%below the sector's middle half-34.1%within the sector's middle half▲ 11.1pp27.4%within the sector's middle half▼ 6.7pp41.4%within the sector's middle half▲ 14.0pp64.2%within the sector's middle half▲ 22.8pp67.8%within the sector's middle half▲ 3.6pp
Current ratio0.41below the sector's middle half-0.54below the sector's middle half▲ 0.130.72within the sector's middle half▲ 0.180.44below the sector's middle half▼ 0.282.28within the sector's middle half▲ 1.832.19within the sector's middle half▼ 0.09
Return on assets (ROA)12.5%within the sector's middle half-12.1%within the sector's middle half▼ 0.4pp9.6%within the sector's middle half▼ 2.5pp14.4%within the sector's middle half▲ 4.8pp19.5%within the sector's middle half▲ 5.1pp8.8%within the sector's middle half▼ 10.6pp
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 6% higher than in 2024. It is a recovery after the fall in 2024.
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 €844,559
Fixed assets
€687,615 ▼ 5.7%
Current assets
€156,944 ▲ 14.8%
Equity and liabilities €844,559
Equity
€572,856 ▲ 3.1%
Debt
€271,703 ▼ 12.4%
Debt's share of the balance-sheet total falls from 35.8% to 32.2%. Equity is higher and debt is lower.
Key figures and ratios
ROE
13.0%▼
2024 · 30.4%
Debt ≤ 1 year
€71,703▲
2024 · €60,074
Debt > 1 year
€200,000▼
2024 · €250,000
Income taxes
€27,391▲
2024 · €26,738
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 | - | - | €65,457 | €4,524 | €3,900 |
| Financial fixed assets | - | €425,000 | - | - | - |
| Depreciation and write-downs of the year | - | - | €3,724 | €12,853 | €13,562 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €3,724 | €12,853 | €13,562 | ▲ 5.5% |
| Other operating charges640/8 | - | €156 | €159 | €600 | €888 | €256 | ▼ 71.2% |
| Gross operating margin9900 | €65,684 | -€935 | €118,977 | €99,581 | €92,878 | €97,395 | ▲ 4.9% |
| Operating profit (loss)9901 | €64,037 | -€1,091 | €118,818 | €95,257 | €79,137 | €83,577 | ▲ 5.6% |
| Financial income75/76B | - | €66,000 | - | €69,686 | €120,007 | €20,057 | ▼ 83.3% |
| Recurring financial income75 | - | €66,000 | - | €69,686 | €120,007 | €20,057 | ▼ 83.3% |
| Financial charges65/66B | - | €2,959 | €2,431 | €2,938 | €3,672 | €1,503 | ▼ 59.1% |
| Recurring financial charges65 | €5,036 | €2,959 | €2,431 | €2,938 | €3,672 | €1,503 | ▼ 59.1% |
| Profit (loss) for the period before taxes9903 | €59,001 | €61,950 | €116,387 | €162,005 | €195,472 | €102,131 | ▼ 47.8% |
| Income taxes67/77 | - | €2,000 | €25,702 | €20,522 | €26,738 | €27,391 | ▲ 2.4% |
| Profit (loss) for the period9904 | €59,001 | €59,950 | €90,685 | €141,483 | €168,734 | €74,740 | ▼ 55.7% |
| Profit (loss) for the period to be appropriated9905 | €59,001 | €59,950 | €90,685 | €141,483 | €168,734 | €74,740 | ▼ 55.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €473,669 | €495,545 | €948,987 | €982,628 | €865,690 | €844,559 | ▼ 2.4% |
| Fixed assets21/28 | €448,000 | €448,000 | €873,000 | €934,733 | €728,983 | €687,615 | ▼ 5.7% |
| Tangible fixed assets22/27 | - | - | - | €61,733 | €53,404 | €12,036 | ▼ 77.5% |
| Furniture and vehicles24 | - | - | - | €61,733 | €53,404 | €12,036 | ▼ 77.5% |
| Financial fixed assets28 | €448,000 | €448,000 | €873,000 | €873,000 | €675,579 | €675,579 | = |
| Current assets29/58 | €25,669 | €47,545 | €75,987 | €47,895 | €136,707 | €156,944 | ▲ 14.8% |
| Amounts receivable after more than one year29 | - | - | - | - | - | €11,875 | - |
| Other amounts receivable291 | - | - | - | - | - | €11,875 | - |
| Amounts receivable within one year40/41 | €25,500 | €47,300 | €27,614 | €10,800 | €84,561 | €107,296 | ▲ 26.9% |
| Trade receivables40 | - | - | - | - | - | €18,000 | - |
| Other amounts receivable41 | - | €47,300 | €27,614 | €10,800 | €84,561 | €89,296 | ▲ 5.6% |
| Cash at bank and in hand54/58 | €169 | €245 | €48,271 | €37,095 | €47,669 | €33,054 | ▼ 30.7% |
| Deferred charges and accrued income490/1 | - | - | €102 | - | €4,477 | €4,719 | ▲ 5.4% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €473,669 | €495,545 | €948,987 | €982,628 | €865,690 | €844,559 | ▼ 2.4% |
| Equity10/15 | €109,001 | €168,951 | €259,636 | €406,882 | €555,616 | €572,856 | ▲ 3.1% |
| Contributions10/11 | - | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Contributions outside capital11 | - | €50,000 | €50,000 | €50,000 | - | - | - |
| Other1109/19 | - | €50,000 | €50,000 | €50,000 | - | - | - |
| Reserves13 | - | €20,000 | €20,000 | - | - | - | - |
| Tax-exempt reserves132 | - | €20,000 | €20,000 | - | - | - | - |
| Profit (loss) carried forward14 | €59,001 | €98,951 | €189,636 | €356,882 | €505,616 | €522,856 | ▲ 3.4% |
| Amounts payable17/49 | €364,668 | €326,594 | €689,351 | €575,746 | €310,074 | €271,703 | ▼ 12.4% |
| Amounts payable after more than one year17 | €301,560 | €237,923 | €583,754 | €467,298 | €250,000 | €200,000 | ▼ 20.0% |
| Financial debts170/4 | - | €237,923 | €583,754 | €467,298 | €250,000 | €200,000 | ▼ 20.0% |
| Amounts payable within one year42/48 | €63,108 | €88,671 | €105,597 | €108,448 | €60,074 | €71,703 | ▲ 19.4% |
| Current portion of amounts payable after more than one year42 | - | €63,637 | €64,169 | €80,310 | €34,415 | €6,074 | ▼ 82.4% |
| Trade debts44 | - | €484 | - | - | €2,983 | €2,387 | ▼ 20.0% |
| Suppliers440/4 | - | €484 | - | - | €2,983 | €2,387 | ▼ 20.0% |
| Taxes, remuneration and social security45 | - | €2,000 | €32,394 | €27,654 | €12,692 | €5,742 | ▼ 54.8% |
| Taxes450/3 | - | €2,000 | €32,394 | €27,654 | €12,692 | €5,742 | ▼ 54.8% |
| Other amounts payable47/48 | - | €22,550 | €9,034 | €484 | €9,984 | €57,500 | ▲ 476% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €59,001 | €59,950 | €90,685 | €141,483 | €168,734 | €74,740 | ▼ 55.7% |
| + Depreciation and write-downs630 | - | - | - | €3,724 | €12,853 | €13,562 | ▲ 5.5% |
| Operating cash flow (approximation) | €59,001 | €59,950 | €90,685 | €145,207 | €181,587 | €88,302 | ▼ 51.4% |
| Investment in fixed assets (approximation) | - | €0 | -€425,000 | -€65,457 | €192,897 | €27,806 | ▼ 85.6% |
| Change in cash | - | €76 | €48,026 | -€11,176 | €10,574 | -€14,615 | - |
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 (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 29-06-2026 | 2026-00216654 | |
| 31-12-2024 | micro format | 19-06-2025 | 2025-00160196 | |
| 31-12-2023 | micro format | 15-06-2024 | 2024-00131765 | |
| 31-12-2022 | micro format | 03-08-2023 | 2023-00310869 | |
| 31-12-2021 | micro format | 16-06-2022 | 2022-20067347 | |
| 31-12-2020 | micro format | 17-06-2021 | 2021-20900295 |