Financials · financial year 2025, full format
Annual accounts 2025 filed on 10-04-2026 PDF all 18 filings
Equity
€55.7m▼ 31.2%
2024 · €80.8m
Net result
-€20.9m
2024 · €12.1m
Total assets
€65.8m▼ 30.2%
2024 · €94.2m
Solvency
84.6%▼ 1.2pp
2024 · 85.8%
In the rankings
#3 company by equity in Sint-Gillis, Finance and insurance sector#4 company by total assets in Sint-Gillis, Finance and insurance sector#10 oldest company in Sint-Gillis, Finance and insurance sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€84,743
▲ 68.3%
2025
20182025
Net result
-€20.9m
2025
lowest quarter of the sector
20182025
Equity
€55.7m
▼ 31.2%
2025
highest quarter of the sector
20182025
Total assets
€65.8m
▼ 30.2%
2025
highest quarter of the sector
20182025
Debt
€10.1m
▼ 24.4%
2025
20182025
Working capital
€7.3m
2025
highest quarter of the sector
20182025
Solvency
84.6%
▼ 1.2pp
2025
middle half of the sector
20182025
Current ratio
no figure
2025
20182025
Return on assets (ROA)
-31.8%
▼ 44.6pp
2025
lowest 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-€0.2m--€0.06m▲ 69.5%-€0.06m▼ 5.2%-€0.1m▼ 139%-€0.08m▲ 43.1%-€0.1m▼ 71.8%-€0.3m▼ 84.9%-€0.08m▲ 68.3%
Net result€0.2m-€0.07m▼ 64.9%-€18.1mbelow the sector's middle half-€5.2mbelow the sector's middle half▲ 71.4%€6.4mabove the sector's middle half-€0.8mbelow the sector's middle half€12.1mabove the sector's middle half-€20.9mbelow the sector's middle half
Equity€91.5m-€98.8m▲ 8.0%€80.7mabove the sector's middle half▼ 18.3%€75.5mabove the sector's middle half▼ 6.4%€81.9mabove the sector's middle half▲ 8.5%€81.1mabove the sector's middle half▼ 1.0%€80.8mabove the sector's middle half▼ 0.4%€55.7mabove the sector's middle half▼ 31.2%
Total assets€99.2m-€109.2m▲ 10.1%€91.1mabove the sector's middle half▼ 16.5%€90.1mabove the sector's middle half▼ 1.1%€97.1mabove the sector's middle half▲ 7.8%€96.5mabove the sector's middle half▼ 0.6%€94.2mabove the sector's middle half▼ 2.4%€65.8mabove the sector's middle half▼ 30.2%
Debt€7.7m-€10.4m▲ 34.6%€10.4m▲ 0.5%€14.6m▲ 39.8%€15.1m▲ 4.0%€15.4m▲ 1.9%€13.4m▼ 13.3%€10.1m▼ 24.4%
Working capital€0.03m-€0.07m▲ 107%€0.07mwithin the sector's middle half▼ 0.9%€0.2mwithin the sector's middle half▲ 157%€0.3mwithin the sector's middle half▲ 83.1%€0.1mwithin the sector's middle half▼ 58.7%-€8.9mbelow the sector's middle half€7.3mabove the sector's middle half
Solvency92.2%-90.5%▼ 1.7pp88.6%above the sector's middle half▼ 1.9pp83.8%above the sector's middle half▼ 4.7pp84.4%above the sector's middle half▲ 0.6pp84.0%above the sector's middle half▼ 0.4pp85.8%above the sector's middle half▲ 1.8pp84.6%within the sector's middle half▼ 1.2pp
Current ratio2.93-4.80▲ 1.8712.71above the sector's middle half▲ 7.915.43above the sector's middle half▼ 7.2820.48above the sector's middle half▲ 15.057.58above the sector's middle half▼ 12.900.29below the sector's middle half▼ 7.29
Return on assets (ROA)0.2%-0.1%▼ 0.1pp-19.8%below the sector's middle half▼ 19.9pp-5.7%below the sector's middle half▲ 14.1pp6.6%within the sector's middle half▲ 12.3pp-0.8%below the sector's middle half▼ 7.4pp12.9%above the sector's middle half▲ 13.7pp-31.8%below the sector's middle half▼ 44.6pp
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 a loss of €84,743, smaller than the loss of €267,219 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €65.8m
Fixed assets
€58.4m ▼ 35.5%
Current assets
€7.4m ▲ 98.4%
Equity and liabilities €65.8m
Equity
€55.7m ▼ 31.2%
Debt
€10.1m ▼ 24.4%
Debt's share of the balance-sheet total rises from 14.2% to 15.4%. Equity and debt are lower.
Key figures and ratios
ROE
-37.6%▼
2024 · 15.0%
Debt ≤ 1 year
€40,077▼
2024 · €12.7m
Debt > 1 year
€9.8m
A ratio outside any meaningful range has been withheld (balance sheet total €65.8m, equity €55.7m).
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 |
|---|---|---|---|---|---|
| Financial fixed assets | €4.8m | €15.2m | €2.9m | €22.6m | €28.9m |
| Depreciation and write-downs of the year | €433 | €433 | €144 | - | - |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €289 | €433 | €433 | €144 | - | - | - |
| Other operating charges640/8 | - | - | - | €0.001m | €0.001m | €0.002m | €0.001m | €0.001m | ▼ 27.5% |
| Gross operating margin9900 | -€0.2m | -€0.06m | -€0.06m | -€0.1m | -€0.08m | -€0.1m | -€0.3m | -€0.08m | ▲ 68.5% |
| Operating profit (loss)9901 | -€0.2m | -€0.06m | -€0.06m | -€0.1m | -€0.08m | -€0.1m | -€0.3m | -€0.08m | ▲ 68.3% |
| Financial income75/76B | - | - | - | €1.4m | €22.3m | €0.7m | €12.9m | €0.7m | ▼ 94.8% |
| Recurring financial income75 | €8.4m | €6.8m | €3.6m | €1.4m | €0.5m | €0.7m | €12.9m | €0.4m | ▼ 96.6% |
| Non-recurring financial income76B | - | - | - | - | €21.8m | - | - | €0.2m | - |
| Financial charges65/66B | - | - | - | €6.4m | €15.8m | €1.4m | €0.5m | €21.5m | ▲ 43× |
| Recurring financial charges65 | €0.3m | €0.2m | €0.2m | €0.3m | €0.3m | €0.4m | €0.3m | €0.007m | ▼ 97.9% |
| Non-recurring financial charges66B | - | - | - | €6.1m | €15.5m | €1.0m | €0.2m | €21.5m | ▲ 135× |
| Profit (loss) for the period before taxes9903 | €0.2m | €0.07m | -€18.1m | -€5.2m | €6.4m | -€0.8m | €12.1m | -€20.9m | - |
| Income taxes67/77 | -€364 | €17 | €146 | €119 | €20 | - | - | - | - |
| Profit (loss) for the period9904 | €0.2m | €0.07m | -€18.1m | -€5.2m | €6.4m | -€0.8m | €12.1m | -€20.9m | - |
| Profit (loss) for the period to be appropriated9905 | €0.2m | €0.07m | -€18.1m | -€5.2m | €6.4m | -€0.8m | €12.1m | -€20.9m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €99.2m | €109.2m | €91.1m | €90.1m | €97.1m | €96.5m | €94.2m | €65.8m | ▼ 30.2% |
| Fixed assets21/28 | €99.1m | €109.1m | €91.0m | €89.9m | €96.7m | €96.4m | €90.5m | €58.4m | ▼ 35.5% |
| Tangible fixed assets22/27 | - | - | €0.001m | €0.001m | €144 | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €0.001m | €144 | - | - | - | - |
| Financial fixed assets28 | €99.1m | €109.1m | €91.0m | €89.9m | €96.7m | €96.4m | €90.5m | €58.4m | ▼ 35.5% |
| Current assets29/58 | €0.05m | €0.09m | €0.08m | €0.2m | €0.3m | €0.2m | €3.7m | €7.4m | ▲ 98.4% |
| Amounts receivable after more than one year29 | - | - | - | - | - | - | €2.0m | €1.0m | ▼ 50.0% |
| Other amounts receivable291 | - | - | - | - | - | - | €2.0m | €1.0m | ▼ 50.0% |
| Amounts receivable within one year40/41 | €0.02m | €338 | - | - | €243 | €216 | €1.2m | €1.0m | ▼ 16.7% |
| Trade receivables40 | - | - | - | - | - | - | €0.2m | - | - |
| Other amounts receivable41 | - | - | - | - | €243 | €216 | €1.0m | €1.0m | ▲ 0.4% |
| Current investments50/53 | - | - | - | - | - | - | - | €3.9m | - |
| Cash at bank and in hand54/58 | €0.03m | €0.07m | €0.08m | €0.2m | €0.3m | €0.2m | €0.5m | €1.4m | ▲ 178% |
| Deferred charges and accrued income490/1 | - | - | - | - | €40 | €40 | €0.001m | €40 | ▼ 95.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €99.2m | €109.2m | €91.1m | €90.1m | €97.1m | €96.5m | €94.2m | €65.8m | ▼ 30.2% |
| Equity10/15 | €91.5m | €98.8m | €80.7m | €75.5m | €81.9m | €81.1m | €80.8m | €55.7m | ▼ 31.2% |
| Contributions10/11 | €70.5m | €77.8m | €77.8m | €77.8m | €77.8m | €77.8m | €77.8m | €73.8m | ▼ 5.2% |
| Capital10 | - | - | - | €77.8m | €77.8m | €77.8m | €77.8m | €73.8m | ▼ 5.2% |
| Issued capital100 | - | - | - | €77.8m | €77.8m | €77.8m | €77.8m | €73.8m | ▼ 5.2% |
| Reserves13 | €6.3m | €6.3m | €6.3m | €6.3m | €6.3m | €6.3m | €2.8m | €2.8m | = |
| Non-distributable reserves130/1 | - | - | - | €2.3m | €2.3m | €2.3m | €2.8m | €2.8m | = |
| Legal reserve130 | - | - | - | €2.3m | €2.3m | €2.3m | €2.8m | €2.8m | = |
| Distributable reserves133 | - | - | - | €4.0m | €4.0m | €4.0m | - | - | - |
| Profit (loss) carried forward14 | €14.6m | €14.7m | -€3.4m | -€8.6m | -€2.2m | -€3.0m | €0.3m | -€20.9m | - |
| Amounts payable17/49 | €7.7m | €10.4m | €10.4m | €14.6m | €15.1m | €15.4m | €13.4m | €10.1m | ▼ 24.4% |
| Amounts payable after more than one year17 | €7.4m | €9.9m | €10.2m | €13.9m | €14.0m | €14.0m | - | €9.8m | - |
| Financial debts170/4 | - | - | - | €13.9m | €14.0m | €14.0m | - | €9.8m | - |
| Amounts payable within one year42/48 | €0.02m | €0.02m | €0.006m | €0.04m | €0.02m | €0.02m | €12.7m | €0.04m | ▼ 99.7% |
| Trade debts44 | €0.007m | €0.02m | €0.004m | €0.02m | €0.01m | €0.02m | €0.003m | €0.04m | ▲ 14× |
| Suppliers440/4 | - | - | - | €0.02m | €0.01m | €0.02m | €0.003m | €0.04m | ▲ 14× |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.002m | €0.002m | €0.2m | - | - |
| Taxes450/3 | - | - | - | €0.02m | €0.002m | €0.002m | €0.2m | - | - |
| Other amounts payable47/48 | - | - | - | - | - | - | €12.4m | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.6m | €1.1m | €1.4m | €0.7m | €0.3m | ▼ 62.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.2m | €0.07m | -€18.1m | -€5.2m | €6.4m | -€0.8m | €12.1m | -€20.9m | - |
| + Depreciation and write-downs630 | - | - | €289 | €433 | €433 | €144 | - | - | - |
| Operating cash flow (approximation) | €0.2m | €0.07m | -€18.1m | -€5.2m | €6.4m | -€0.8m | €12.1m | -€20.9m | - |
| Investment in fixed assets (approximation) | - | -€10.0m | €18.0m | €1.2m | -€6.9m | €0.3m | €5.9m | €32.1m | ▲ 443% |
| Change in cash | - | €0.04m | €0.004m | €0.1m | €0.1m | -€0.2m | €0.4m | €0.9m | ▲ 156% |
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 18 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 10-04-2026 | 2026-00079511 | |
| 31-12-2024 | full format | 14-02-2025 | 2025-00036185 | |
| 31-12-2023 | full format | 16-06-2024 | 2024-00135484 | |
| 31-12-2022 | full format | 05-06-2023 | 2023-00110106 | |
| 31-12-2021 | full format | 01-07-2022 | 2022-20138498 | |
| 31-12-2020 | full format | 20-07-2021 | 2021-38700064 | |
| 31-12-2019 | full format | 18-06-2020 | 2020-18200346 | |
| 31-12-2018 | full format | 27-06-2019 | 2019-24400476 | |
| 31-12-2017 | full format | 25-09-2018 | 2018-64800128 | |
| 31-12-2016 | full format | 15-06-2017 | 2017-18500393 |