Financials · financial year 2025, full format
Annual accounts 2025 filed on 11-06-2026 PDF all 5 filings
Equity
€845,025▲ 9.5%
2024 · €772,003
Net result
€73,022▲ 40.3%
2024 · €52,060
Total assets
€1.4m▼ 0.1%
2024 · €1.4m
Solvency
59.4%▲ 5.2pp
2024 · 54.2%
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€116,155
▲ 54.0%
2025
20212025
Net result
€73,022
▲ 40.3%
2025
middle half of the sector
20212025
Equity
€845,025
▲ 9.5%
2025
lowest quarter of the sector
20212025
Total assets
€1.4m
▼ 0.1%
2025
lowest quarter of the sector
20212025
Debt
€577,413
▼ 11.4%
2025
20212025
Working capital
-€501,437
▲ 5.6%
2025
middle half of the sector
20212025
Solvency
59.4%
▲ 5.2pp
2025
middle half of the sector
20212025
Current ratio
0.02
=
2025
lowest quarter of the sector
20212025
Return on assets (ROA)
5.1%
▲ 1.5pp
2025
middle half of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result€0.08m-€0.1m▲ 78.4%€0.07m▼ 46.3%€0.08m▲ 4.4%€0.1m▲ 54.0%
Net result€0.05mwithin the sector's middle half-€0.09mwithin the sector's middle half▲ 91.8%€0.05mwithin the sector's middle half▼ 43.5%€0.05mwithin the sector's middle half▼ 1.4%€0.07mwithin the sector's middle half▲ 40.3%
Equity€0.6mwithin the sector's middle half-€0.7mwithin the sector's middle half▲ 16.3%€0.7mwithin the sector's middle half▲ 7.9%€0.8mwithin the sector's middle half▲ 7.2%€0.8mbelow the sector's middle half▲ 9.5%
Total assets€1.2mbelow the sector's middle half-€1.2mbelow the sector's middle half▲ 1.6%€1.2mbelow the sector's middle half▲ 0.2%€1.4mbelow the sector's middle half▲ 15.0%€1.4mbelow the sector's middle half▼ 0.1%
Debt€0.6m-€0.6m▼ 11.5%€0.5m▼ 8.9%€0.7m▲ 25.7%€0.6m▼ 11.4%
Working capital-€0.2mwithin the sector's middle half--€0.1mwithin the sector's middle half▲ 27.1%-€0.1mwithin the sector's middle half▲ 8.4%-€0.5mwithin the sector's middle half▼ 340%-€0.5mwithin the sector's middle half▲ 5.6%
Solvency47.2%within the sector's middle half-54.0%within the sector's middle half▲ 6.8pp58.1%within the sector's middle half▲ 4.2pp54.2%within the sector's middle half▼ 3.9pp59.4%within the sector's middle half▲ 5.2pp
Current ratio0.13below the sector's middle half-0.26below the sector's middle half▲ 0.130.29below the sector's middle half▲ 0.030.02below the sector's middle half▼ 0.270.02below the sector's middle half=
Return on assets (ROA)4.0%within the sector's middle half-7.6%within the sector's middle half▲ 3.6pp4.3%within the sector's middle half▼ 3.3pp3.7%within the sector's middle half▼ 0.6pp5.1%within the sector's middle half▲ 1.5pp
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 54% higher than in 2024. It is the second rise in a row, after the fall in 2023.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.4m
Fixed assets
€1.4m =
Current assets
€8,391 ▼ 13.6%
Equity and liabilities €1.4m
Equity
€845,025 ▲ 9.5%
Debt
€577,413 ▼ 11.4%
Debt's share of the balance-sheet total falls from 45.8% to 40.6%. Equity is higher and debt is lower.
Key figures and ratios
ROE
8.6%▲
2024 · 6.7%
Debt ≤ 1 year
€509,829▼
2024 · €540,961
Debt > 1 year
€51,364▼
2024 · €102,266
Income taxes
€25,661▲
2024 · €13,051
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €301,342 | €252,243 | €202,700 | €202,700 | €102,266 |
| Pledge on the business | €350,000 | €350,000 | €350,000 | €350,000 | €350,000 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Financial fixed assets | €1.2m | - | - | €225,000 | - |
| Depreciation and write-downs of the year | €1,020 | - | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,020 | - | - | - | - | - |
| Other operating charges640/8 | €348 | €348 | €960 | €968 | €998 | ▲ 3.2% |
| Gross operating margin9900 | €76,775 | €134,879 | €73,217 | €76,408 | €117,154 | ▲ 53.3% |
| Operating profit (loss)9901 | €75,408 | €134,532 | €72,257 | €75,440 | €116,155 | ▲ 54.0% |
| Financial charges65/66B | €10,456 | €9,803 | €12,524 | €10,329 | €17,472 | ▲ 69.2% |
| Recurring financial charges65 | €10,456 | €9,803 | €12,524 | €10,329 | €17,472 | ▲ 69.2% |
| Profit (loss) for the period before taxes9903 | €64,951 | €124,728 | €59,733 | €65,111 | €98,684 | ▲ 51.6% |
| Income taxes67/77 | €16,238 | €31,282 | €6,951 | €13,051 | €25,661 | ▲ 96.6% |
| Profit (loss) for the period9904 | €48,714 | €93,447 | €52,782 | €52,060 | €73,022 | ▲ 40.3% |
| Profit (loss) for the period to be appropriated9905 | €48,714 | €93,447 | €52,782 | €52,060 | €73,022 | ▲ 40.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.2m | €1.2m | €1.2m | €1.4m | €1.4m | ▼ 0.1% |
| Fixed assets21/28 | €1.2m | €1.2m | €1.2m | €1.4m | €1.4m | = |
| Financial fixed assets28 | €1.2m | €1.2m | €1.2m | €1.4m | €1.4m | = |
| Current assets29/58 | €0.03m | €0.05m | €0.05m | €0.01m | €0.008m | ▼ 13.6% |
| Amounts receivable within one year40/41 | €0.03m | €0.007m | €0.007m | €0.007m | €0.007m | ▼ 9.5% |
| Trade receivables40 | €0.03m | €0.007m | €0.007m | €0.007m | €0.007m | = |
| Other amounts receivable41 | €5 | - | - | €0.001m | - | - |
| Cash at bank and in hand54/58 | €0.001m | €0.04m | €0.04m | €0.003m | €0.002m | ▼ 25.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.2m | €1.2m | €1.2m | €1.4m | €1.4m | ▼ 0.1% |
| Equity10/15 | €0.6m | €0.7m | €0.7m | €0.8m | €0.8m | ▲ 9.5% |
| Contributions10/11 | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Capital10 | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Issued capital100 | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | = |
| Reserves13 | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Non-distributable reserves130/1 | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Legal reserve130 | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Profit (loss) carried forward14 | - | €0.09m | €0.1m | €0.2m | €0.3m | ▲ 37.5% |
| Amounts payable17/49 | €0.6m | €0.6m | €0.5m | €0.7m | €0.6m | ▼ 11.4% |
| Amounts payable after more than one year17 | €0.4m | €0.4m | €0.3m | €0.1m | €0.05m | ▼ 49.8% |
| Financial debts170/4 | €0.3m | €0.2m | €0.2m | €0.1m | €0.05m | ▼ 49.8% |
| Other amounts payable178/9 | €0.2m | €0.2m | €0.2m | - | - | - |
| Amounts payable within one year42/48 | €0.2m | €0.2m | €0.2m | €0.5m | €0.5m | ▼ 5.8% |
| Current portion of amounts payable after more than one year42 | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | ▲ 0.9% |
| Trade debts44 | €0.002m | - | - | - | - | - |
| Suppliers440/4 | €0.002m | - | - | - | - | - |
| Taxes, remuneration and social security45 | €0.02m | €0.05m | €0.04m | €0.01m | €0.01m | ▼ 19.5% |
| Taxes450/3 | €0.02m | €0.05m | €0.04m | €0.01m | €0.01m | ▼ 19.5% |
| Other amounts payable47/48 | €0.1m | €0.08m | €0.08m | €0.5m | €0.4m | ▼ 6.1% |
| Accrued charges and deferred income492/3 | €0.007m | €0.007m | €0.01m | €0.009m | €0.02m | ▲ 90.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €48,714 | €93,447 | €52,782 | €52,060 | €73,022 | ▲ 40.3% |
| + Depreciation and write-downs630 | €1,020 | - | - | - | - | - |
| Operating cash flow (approximation) | €49,734 | €93,447 | €52,782 | €52,060 | €73,022 | ▲ 40.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€225,000 | €0 | - |
| Change in cash | - | €39,660 | €2,165 | -€40,397 | -€640 | ▲ 98.4% |
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 (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 11-06-2026 | 2026-00153834 | |
| 31-12-2024 | full format | 16-07-2025 | 2025-00277303 | |
| 31-12-2023 | full format | 19-06-2024 | 2024-00145915 | |
| 31-12-2022 | full format | 03-07-2023 | 2023-00209769 | |
| 31-12-2021 | full format | 18-08-2022 | 2022-20298767 |