Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 27-07-2026 at the NBB all 8 filings
Equity
€355,732▲ 18.2%
2024 · €301,028
Net result
€120,586▲ 52.9%
2024 · €78,867
Total assets
€425,198▼ 0.5%
2024 · €427,424
Solvency
83.7%▲ 13.2pp
2024 · 70.4%
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is 4% lower than in 2024 and the lowest since 2021.
Operating result€83,144
2025
Net result€120,586
2025
Total assets€425,198
2025
Equity€355,732
2025
Debt€69,466
2025
Working capital-€48,768
2025
Return on assets (ROA)28.4%
2025
Solvency83.7%
2025
Current ratio0.30
2025
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€8,483-€17,841▲ 110%€91,862▲ 415%€92,659▲ 0.9%€86,438▼ 6.7%€85,739▼ 0.8%€86,713▲ 1.1%€83,144▼ 4.1%
Net result€87,758-€8,061▼ 90.8%€127,290within the sector's middle half▲ 16×€120,958within the sector's middle half▼ 5.0%€116,365within the sector's middle half▼ 3.8%€97,130within the sector's middle half▼ 16.5%€78,867within the sector's middle half▼ 18.8%€120,586within the sector's middle half▲ 52.9%
Equity€107,758-€115,819▲ 7.5%€243,109within the sector's middle half▲ 110%€200,067within the sector's middle half▼ 17.7%€259,932within the sector's middle half▲ 29.9%€295,162within the sector's middle half▲ 13.6%€301,028within the sector's middle half▲ 2.0%€355,732within the sector's middle half▲ 18.2%
Total assets€444,603-€412,842▼ 7.1%€473,273below the sector's middle half▲ 14.6%€553,707below the sector's middle half▲ 17.0%€462,313below the sector's middle half▼ 16.5%€456,484below the sector's middle half▼ 1.3%€427,424below the sector's middle half▼ 6.4%€425,198below the sector's middle half▼ 0.5%
Debt€336,845-€297,023▼ 11.8%€230,164▼ 22.5%€353,640▲ 53.6%€202,381▼ 42.8%€161,323▼ 20.3%€126,395▼ 21.7%€69,466▼ 45.0%
Working capital-€2,192--€46,715▼ 2,031%€28,702within the sector's middle half-€58,308within the sector's middle half-€43,415within the sector's middle half▲ 25.5%-€53,395within the sector's middle half▼ 23.0%-€73,972within the sector's middle half▼ 38.5%-€48,768within the sector's middle half▲ 34.1%
Solvency24.2%-28.1%▲ 3.8pp51.4%within the sector's middle half▲ 23.3pp36.1%within the sector's middle half▼ 15.2pp56.2%within the sector's middle half▲ 20.1pp64.7%within the sector's middle half▲ 8.4pp70.4%within the sector's middle half▲ 5.8pp83.7%above the sector's middle half▲ 13.2pp
Current ratio0.95-0.22▼ 0.741.64within the sector's middle half▲ 1.430.72within the sector's middle half▼ 0.920.59within the sector's middle half▼ 0.140.51within the sector's middle half▼ 0.080.23below the sector's middle half▼ 0.280.30below the sector's middle half▲ 0.07
Return on assets (ROA)19.7%-2.0%▼ 17.8pp26.9%above the sector's middle half▲ 24.9pp21.8%above the sector's middle half▼ 5.1pp25.2%above the sector's middle half▲ 3.3pp21.3%above the sector's middle half▼ 3.9pp18.5%above the sector's middle half▼ 2.8pp28.4%above the sector's middle half▲ 9.9pp
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.
Turnover and EBIT margin are not published. The abbreviated 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 €425,198
Fixed assets
€404,500 ▼ 0.1%
Current assets
€20,698 ▼ 7.7%
Equity and liabilities €425,198
Equity
€355,732 ▲ 18.2%
Debt
€69,466 ▼ 45.0%
Debt's share of the balance-sheet total falls from 29.6% to 16.3%. Equity is higher and debt is lower.
Key figures and ratios
ROE
33.9%▲
2024 · 26.2%
Debt ≤ 1 year
€69,466▼
2024 · €96,395
Income taxes
€24,794▲
2024 · €21,289
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 | - | - | - | €5,000 | - |
| Depreciation and write-downs of the year | - | - | - | - | €500 |
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 | - | - | - | - | - | - | - | €500 | - |
| Other operating charges640/8 | - | - | - | €483 | €485 | €844 | €773 | €624 | ▼ 19.2% |
| Gross operating margin9900 | €8,811 | €17,975 | €92,344 | €93,142 | €86,924 | €86,583 | €87,486 | €84,269 | ▼ 3.7% |
| Operating profit (loss)9901 | €8,483 | €17,841 | €91,862 | €92,659 | €86,438 | €85,739 | €86,713 | €83,144 | ▼ 4.1% |
| Financial income75/76B | - | - | - | €50,000 | €50,000 | €35,000 | €15,001 | €63,000 | ▲ 320% |
| Recurring financial income75 | €88,000 | - | €58,401 | €50,000 | €50,000 | €35,000 | €15,001 | €63,000 | ▲ 320% |
| Financial charges65/66B | - | - | - | €4,150 | €3,297 | €2,435 | €1,558 | €764 | ▼ 51.0% |
| Recurring financial charges65 | €8,562 | €5,783 | €5,166 | €4,150 | €3,297 | €2,435 | €1,558 | €764 | ▼ 51.0% |
| Profit (loss) for the period before taxes9903 | €87,921 | €12,058 | €145,097 | €138,510 | €133,141 | €118,305 | €100,156 | €145,380 | ▲ 45.2% |
| Income taxes67/77 | €163 | €3,997 | €17,807 | €17,552 | €16,776 | €21,175 | €21,289 | €24,794 | ▲ 16.5% |
| Profit (loss) for the period9904 | €87,758 | €8,061 | €127,290 | €120,958 | €116,365 | €97,130 | €78,867 | €120,586 | ▲ 52.9% |
| Profit (loss) for the period to be appropriated9905 | €87,758 | €8,061 | €127,290 | €120,958 | €116,365 | €97,130 | €78,867 | €120,586 | ▲ 52.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €444,603 | €412,842 | €473,273 | €553,707 | €462,313 | €456,484 | €427,424 | €425,198 | ▼ 0.5% |
| Fixed assets21/28 | €400,000 | €400,000 | €400,000 | €400,000 | €400,000 | €400,000 | €405,000 | €404,500 | ▼ 0.1% |
| Tangible fixed assets22/27 | - | - | - | - | - | - | €5,000 | €4,500 | ▼ 10.0% |
| Land and buildings22 | - | - | - | - | - | - | €5,000 | €4,500 | ▼ 10.0% |
| Financial fixed assets28 | €400,000 | €400,000 | €400,000 | €400,000 | €400,000 | €400,000 | €400,000 | €400,000 | = |
| Current assets29/58 | €44,603 | €12,842 | €73,273 | €153,707 | €62,313 | €56,484 | €22,424 | €20,698 | ▼ 7.7% |
| Amounts receivable within one year40/41 | €19,008 | €7 | €32,628 | €103,778 | €37,131 | €13,747 | €23 | €28 | ▲ 20.0% |
| Other amounts receivable41 | - | - | - | €103,778 | €37,131 | €13,747 | €23 | €28 | ▲ 20.0% |
| Cash at bank and in hand54/58 | €25,594 | €12,835 | €40,645 | €49,929 | €25,182 | €42,737 | €22,401 | €20,670 | ▼ 7.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €444,603 | €412,842 | €473,273 | €553,707 | €462,313 | €456,484 | €427,424 | €425,198 | ▼ 0.5% |
| Equity10/15 | €107,758 | €115,819 | €243,109 | €200,067 | €259,932 | €295,162 | €301,028 | €355,732 | ▲ 18.2% |
| Contributions10/11 | €20,000 | €20,000 | - | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €4,390 | €4,390 | €4,390 | €4,390 | €4,390 | €4,390 | €4,390 | €4,390 | = |
| Non-distributable reserves130/1 | - | - | - | €2,000 | €2,000 | €2,000 | €2,000 | - | - |
| Reserves not available under the articles1311 | - | - | - | €2,000 | €2,000 | €2,000 | €2,000 | - | - |
| Distributable reserves133 | - | - | - | €2,390 | €2,390 | €2,390 | €2,390 | €4,390 | ▲ 83.7% |
| Profit (loss) carried forward14 | €83,368 | €91,429 | €218,719 | €175,677 | €235,542 | €270,772 | €276,638 | €331,342 | ▲ 19.8% |
| Amounts payable17/49 | €336,845 | €297,023 | €230,164 | €353,640 | €202,381 | €161,323 | €126,395 | €69,466 | ▼ 45.0% |
| Amounts payable after more than one year17 | €290,050 | €237,466 | €184,442 | €140,981 | €96,653 | €51,443 | €30,000 | - | - |
| Financial debts170/4 | - | - | - | €140,981 | €96,653 | €51,443 | €30,000 | - | - |
| Amounts payable within one year42/48 | €46,795 | €59,557 | €44,571 | €212,015 | €105,729 | €109,880 | €96,395 | €69,466 | ▼ 27.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €43,461 | €44,328 | €45,210 | €11,443 | - | - |
| Financial debts43 | - | - | - | - | - | - | - | €6,728 | - |
| Credit institutions430/8 | - | - | - | - | - | - | - | €6,728 | - |
| Trade debts44 | €2,974 | €2,855 | - | - | €980 | - | - | - | - |
| Suppliers440/4 | - | - | - | - | €980 | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €29,154 | €12,853 | €16,558 | €14,291 | €4,977 | ▼ 65.2% |
| Taxes450/3 | - | - | - | €29,154 | €12,853 | €16,558 | €14,191 | €4,977 | ▼ 64.9% |
| Remuneration and social security454/9 | - | - | - | - | - | - | €100 | - | - |
| Other amounts payable47/48 | - | - | - | €139,400 | €47,567 | €48,112 | €70,662 | €57,762 | ▼ 18.3% |
| Accrued charges and deferred income492/3 | - | - | - | €645 | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €87,758 | €8,061 | €127,290 | €120,958 | €116,365 | €97,130 | €78,867 | €120,586 | ▲ 52.9% |
| + Depreciation and write-downs630 | - | - | - | - | - | - | - | €500 | - |
| Operating cash flow (approximation) | €87,758 | €8,061 | €127,290 | €120,958 | €116,365 | €97,130 | €78,867 | €121,086 | ▲ 53.5% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | -€5,000 | €0 | - |
| Change in cash | - | -€12,760 | €27,810 | €9,284 | -€24,747 | €17,555 | -€20,337 | -€1,730 | ▲ 91.5% |
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 (8)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 27-07-2026 | 2026-00339820 | |
| 31-12-2024 | abbreviated format | 26-08-2025 | 2025-00417546 | |
| 31-12-2023 | abbreviated format | 05-08-2024 | 2024-00327010 | |
| 31-12-2022 | abbreviated format | 05-07-2023 | 2023-00208099 | |
| 31-12-2021 | abbreviated format | 25-08-2022 | 2022-20337394 | |
| 31-12-2020 | abbreviated format | 02-08-2021 | 2021-44800199 | |
| 31-12-2019 | abbreviated format | 25-09-2020 | 2020-55900592 | |
| 31-12-2018 | abbreviated format | 14-08-2019 | 2019-46400243 |