Financials · financial year 2025, micro format
Annual accounts 2025 filed on 25-07-2026 at the NBB all 37 filings
Equity
€233,070▼ 4.8%
2024 · €244,829
Net result
-€11,758
2024 · €192,641
Total assets
€314,127▼ 15.9%
2024 · €373,395
Solvency
74.2%▲ 8.6pp
2024 · 65.6%
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€12,697
2025
20182025
Net result
-€11,758
2025
lowest quarter of the sector
20182025
Equity
€233,070
▼ 4.8%
2025
middle half of the sector
20182025
Total assets
€314,127
▼ 15.9%
2025
middle half of the sector
20182025
Debt
€5,813
▼ 89.1%
2025
20182025
Working capital
€305,305
▼ 6.0%
2025
highest quarter of the sector
20182025
Solvency
74.2%
▲ 8.6pp
2025
middle half of the sector
20182025
Current ratio
53.52
▲ 45.37
2025
highest quarter of the sector
20182025
Return on assets (ROA)
-3.7%
▼ 55.3pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€34,758-€40,228▲ 15.7%€46,483▲ 15.5%€25,170▼ 45.9%€23,798▼ 5.5%€28,563▲ 20.0%€270,415▲ 847%-€12,697
Net result€22,444-€32,101▲ 43.0%€39,276within the sector's middle half▲ 22.4%€18,174within the sector's middle half▼ 53.7%€14,258within the sector's middle half▼ 21.5%€17,124within the sector's middle half▲ 20.1%€192,641above the sector's middle half▲ 11×-€11,758below the sector's middle half
Equity-€68,748--€36,647▲ 46.7%€2,630below the sector's middle half€20,805below the sector's middle half▲ 691%€35,063within the sector's middle half▲ 68.5%€52,187within the sector's middle half▲ 48.8%€244,829within the sector's middle half▲ 369%€233,070within the sector's middle half▼ 4.8%
Total assets€100,572-€93,235▼ 7.3%€106,705below the sector's middle half▲ 14.4%€111,413below the sector's middle half▲ 4.4%€99,447below the sector's middle half▼ 10.7%€120,067below the sector's middle half▲ 20.7%€373,395within the sector's middle half▲ 211%€314,127within the sector's middle half▼ 15.9%
Debt€169,320-€129,882▼ 23.3%€104,075▼ 19.9%€90,608▼ 12.9%€64,384▼ 28.9%€67,880▲ 5.4%€53,322▼ 21.4%€5,813▼ 89.1%
Working capital-€36,236--€32,113▲ 11.4%-€19,346within the sector's middle half▲ 39.8%-€24,331below the sector's middle half▼ 25.8%-€14,221below the sector's middle half▲ 41.6%€25,310within the sector's middle half€324,916above the sector's middle half▲ 13×€305,305above the sector's middle half▼ 6.0%
Solvency-68.4%--39.3%▲ 29.1pp2.5%below the sector's middle half▲ 41.8pp18.7%within the sector's middle half▲ 16.2pp35.3%within the sector's middle half▲ 16.6pp43.5%within the sector's middle half▲ 8.2pp65.6%within the sector's middle half▲ 22.1pp74.2%within the sector's middle half▲ 8.6pp
Current ratio0.30-0.29▼ 0.010.56below the sector's middle half▲ 0.270.56below the sector's middle half▲ 0.010.62below the sector's middle half▲ 0.051.37within the sector's middle half▲ 0.758.15above the sector's middle half▲ 6.7753.52above the sector's middle half▲ 45.37
Return on assets (ROA)22.3%-34.4%▲ 12.1pp36.8%above the sector's middle half▲ 2.4pp16.3%within the sector's middle half▼ 20.5pp14.3%within the sector's middle half▼ 2.0pp14.3%within the sector's middle half▼ 0.1pp51.6%above the sector's middle half▲ 37.3pp-3.7%below the sector's middle half▼ 55.3pp
Staff (FTE)0-00below the sector's middle half0.41.4▲ 250%
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 a loss of €12,697, after a profit of €270,415 in 2024. It is the lowest result since 2021.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €314,127
Fixed assets
€3,010 ▼ 0.4%
Current assets
€311,118 ▼ 16.0%
Equity and liabilities €314,127
Equity
€233,070 ▼ 4.8%
Provisions
€75,244 =
Debt
€5,813 ▼ 89.1%
Debt's share of the balance-sheet total falls from 14.3% to 1.9%. Equity and debt are lower.
Key figures and ratios
ROE
-5.0%▼
2024 · 78.7%
Debt ≤ 1 year
€5,813▼
2024 · €45,457
Income taxes
-€2,630
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 |
|---|---|---|
| Employees at the balance-sheet date | 1 | 2 |
| part-time | 1 | 2 |
| in full-time equivalents | 0.5 | 1 |
| Average over the year, in full-time equivalents | 0.2 | 0.7 |
| On a permanent contract | - | 1 |
| Joined | 1 | 2 |
| Left | 0 | 1 |
Source: social balance sheet in the 2021 to 2022 annual accounts
Overdue debts
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Overdue tax debts | - | €6,737 | - | - | - |
| Overdue social security (RSZ) debts | - | €626 | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €474 | €378 | €332 |
| Intangible fixed assets | - | - | €24,000 | - | - |
| Depreciation and write-downs of the year | - | - | €97 | €234 | €344 |
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 | - | - | - | - | - | - | €303,726 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €8,375 | €13,948 | €28,085 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,009 | €5,010 | €4,669 | - | - | €97 | €234 | €344 | ▲ 47.4% |
| Other operating charges640/8 | - | - | - | €2,412 | €927 | €727 | €336 | €2,676 | ▲ 696% |
| Non-recurring operating charges66A | - | - | - | - | - | €15,000 | - | - | - |
| Gross operating margin9900 | €41,742 | €42,756 | €55,475 | €35,957 | €38,673 | €72,472 | €270,985 | -€9,676 | - |
| Operating profit (loss)9901 | €34,758 | €40,228 | €46,483 | €25,170 | €23,798 | €28,563 | €270,415 | -€12,697 | - |
| Financial income75/76B | - | - | - | - | - | €1 | €0 | €171 | ▲ 2,842× |
| Recurring financial income75 | - | - | €3 | - | - | €1 | €0 | €171 | ▲ 2,842× |
| Financial charges65/66B | - | - | - | €4,962 | €5,191 | €3,559 | €2,529 | €1,862 | ▼ 26.4% |
| Recurring financial charges65 | €12,235 | €8,054 | €7,210 | €4,962 | €5,191 | €3,559 | €2,529 | €1,862 | ▼ 26.4% |
| Profit (loss) for the period before taxes9903 | €22,523 | €32,174 | €39,276 | €20,208 | €18,607 | €25,005 | €267,886 | -€14,388 | - |
| Transfer to deferred taxes680 | - | - | - | - | - | - | €75,244 | - | - |
| Income taxes67/77 | €79 | €73 | - | €2,034 | €4,349 | €7,881 | - | -€2,630 | - |
| Profit (loss) for the period9904 | €22,444 | €32,101 | €39,276 | €18,174 | €14,258 | €17,124 | €192,641 | -€11,758 | - |
| Transfer from tax-exempt reserves789 | - | - | - | €54,693 | - | - | - | - | - |
| Transfer to tax-exempt reserves689 | - | - | - | - | - | - | €225,733 | - | - |
| Profit (loss) for the period to be appropriated9905 | €22,444 | €32,101 | €42,469 | €72,867 | €14,258 | €17,124 | -€33,091 | -€11,758 | ▲ 64.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €100,572 | €93,235 | €106,705 | €111,413 | €99,447 | €120,067 | €373,395 | €314,127 | ▼ 15.9% |
| Fixed assets21/28 | €85,385 | €80,315 | €82,369 | €79,987 | €76,412 | €26,877 | €3,022 | €3,010 | ▼ 0.4% |
| Intangible fixed assets21 | - | €0 | €0 | €0 | €0 | €24,000 | - | - | - |
| Tangible fixed assets22/27 | €27,179 | €22,169 | €17,500 | €17,500 | €17,500 | €2,877 | €3,022 | €3,010 | ▼ 0.4% |
| Furniture and vehicles24 | - | - | - | - | - | €377 | €522 | €510 | ▼ 2.3% |
| Other tangible fixed assets26 | - | - | - | €17,500 | €17,500 | €2,500 | €2,500 | €2,500 | = |
| Financial fixed assets28 | €58,206 | €58,146 | €64,869 | €62,487 | €58,912 | - | - | - | - |
| Current assets29/58 | €15,187 | €12,920 | €24,336 | €31,426 | €23,035 | €93,190 | €370,373 | €311,118 | ▼ 16.0% |
| Amounts receivable within one year40/41 | €950 | €950 | €3,451 | €3,709 | €6,550 | €68,181 | €241,932 | €121,231 | ▼ 49.9% |
| Other amounts receivable41 | - | - | - | €3,709 | €6,550 | €68,181 | €241,932 | €121,231 | ▼ 49.9% |
| Cash at bank and in hand54/58 | - | - | - | - | - | €389 | €127,969 | €189,434 | ▲ 48.0% |
| Deferred charges and accrued income490/1 | - | - | - | €27,717 | €16,485 | €24,620 | €472 | €452 | ▼ 4.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €100,572 | €93,235 | €106,705 | €111,413 | €99,447 | €120,067 | €373,395 | €314,127 | ▼ 15.9% |
| Equity10/15 | -€68,748 | -€36,647 | €2,630 | €20,805 | €35,063 | €52,187 | €244,829 | €233,070 | ▼ 4.8% |
| Contributions10/11 | €74,368 | €74,368 | - | €74,368 | €74,368 | €74,368 | €74,368 | €74,368 | = |
| Reserves13 | €57,936 | €57,936 | €54,742 | €50 | €50 | - | €225,733 | €225,733 | = |
| Non-distributable reserves130/1 | - | - | - | €50 | €50 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €50 | €50 | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | - | - | - | €225,733 | €225,733 | = |
| Profit (loss) carried forward14 | -€201,052 | -€168,951 | -€126,480 | -€53,613 | -€39,355 | -€22,181 | -€55,272 | -€67,030 | ▼ 21.3% |
| Provisions and deferred taxes16 | - | - | - | - | - | - | €75,244 | €75,244 | = |
| Deferred taxes168 | - | - | - | - | - | - | €75,244 | €75,244 | = |
| Amounts payable17/49 | €169,320 | €129,882 | €104,075 | €90,608 | €64,384 | €67,880 | €53,322 | €5,813 | ▼ 89.1% |
| Amounts payable after more than one year17 | €113,197 | €77,899 | €51,993 | €34,851 | €27,128 | - | - | - | - |
| Financial debts170/4 | - | - | - | €10,729 | - | - | - | - | - |
| Other amounts payable178/9 | - | - | - | €24,122 | €27,128 | - | - | - | - |
| Amounts payable within one year42/48 | €51,423 | €45,033 | €43,682 | €55,757 | €37,256 | €67,880 | €45,457 | €5,813 | ▼ 87.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €38,985 | €15,772 | - | - | - | - |
| Financial debts43 | - | - | - | €7,181 | €6,357 | - | - | - | - |
| Credit institutions430/8 | - | - | - | €7,181 | €6,357 | - | - | - | - |
| Trade debts44 | €10,287 | €6,020 | €1,425 | €3,991 | €3,144 | €3,818 | €805 | €1,407 | ▲ 74.8% |
| Suppliers440/4 | - | - | - | €3,991 | €3,144 | €3,818 | €805 | €1,407 | ▲ 74.8% |
| Taxes, remuneration and social security45 | - | - | - | €5,600 | €11,983 | €12,368 | €7,593 | €185 | ▼ 97.6% |
| Taxes450/3 | - | - | - | €1,969 | €6,737 | €12,368 | €7,593 | €185 | ▼ 97.6% |
| Remuneration and social security454/9 | - | - | - | €3,631 | €5,246 | - | - | - | - |
| Other amounts payable47/48 | - | - | - | - | - | €51,694 | €37,059 | €4,221 | ▼ 88.6% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €7,865 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €22,444 | €32,101 | €39,276 | €18,174 | €14,258 | €17,124 | €192,641 | -€11,758 | - |
| + Depreciation and write-downs630 | €5,009 | €5,010 | €4,669 | - | - | €97 | €234 | €344 | ▲ 47.4% |
| Operating cash flow (approximation) | €27,453 | €37,111 | €43,945 | €18,174 | €14,258 | €17,221 | €192,875 | -€11,414 | - |
| Investment in fixed assets (approximation) | - | €60 | -€6,723 | €2,382 | €3,575 | €49,438 | €23,622 | -€332 | - |
| Change in cash | - | - | - | - | - | - | €127,580 | €61,465 | ▼ 51.8% |
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 37 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 25-07-2026 | 2026-00331053 | |
| 31-12-2024 | micro format | 30-08-2025 | 2025-00449949 | |
| 31-12-2023 | micro format | 28-07-2025 | 2025-00314669 | |
| 31-12-2022 | micro format | 23-06-2023 | 2023-00150986 | |
| 31-12-2021 | micro format | 26-08-2022 | 2022-20323581 | |
| 31-12-2020 | full format | 24-06-2021 | 2021-24300148 | |
| 31-12-2019 | full format | 12-06-2020 | 2020-16500134 | |
| 31-12-2018 | full format | 07-05-2019 | 2019-12600397 | |
| 31-12-2017 | full format | 13-08-2018 | 2018-45200188 | |
| 31-12-2016 | full format | 14-12-2017 | 2017-72000379 |