Financials · financial year 2025, micro format
Annual accounts 2025 filed on 29-06-2026 at the NBB all 8 filings
Equity
€200,000▲ 104%
2024 · €97,823
Net result
€208,837▲ 748%
2024 · €24,622
Total assets
€737,334▲ 547%
2024 · €114,026
Solvency
27.1%▼ 58.7pp
2024 · 85.8%
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€11,557
2025
20182025
Net result
€208,837
▲ 748%
2025
highest quarter of the sector
20182025
Equity
€200,000
▲ 104%
2025
middle half of the sector
20182025
Total assets
€737,334
▲ 547%
2025
middle half of the sector
20182025
Debt
€537,334
▲ 33×
2025
20182025
Working capital
€284,778
▲ 213%
2025
highest quarter of the sector
20182025
Solvency
27.1%
▼ 58.7pp
2025
middle half of the sector
20182025
Current ratio
2.18
▼ 4.44
2025
middle half of the sector
20182025
Return on assets (ROA)
28.3%
▲ 6.7pp
2025
highest 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€16,841-€72,387▲ 330%€4,888▼ 93.2%€23,975▲ 391%-€243,613€11,654€23,993▲ 106%-€11,557
Net result€16,845-€62,989▲ 274%€10,037within the sector's middle half▼ 84.1%€16,288within the sector's middle half▲ 62.3%-€244,189below the sector's middle half€11,231within the sector's middle half€24,622within the sector's middle half▲ 119%€208,837above the sector's middle half▲ 748%
Equity€216,845-€279,834▲ 29.0%€289,871within the sector's middle half▲ 3.6%€306,159within the sector's middle half▲ 5.6%€61,970within the sector's middle half▼ 79.8%€73,201within the sector's middle half▲ 18.1%€97,823within the sector's middle half▲ 33.6%€200,000within the sector's middle half▲ 104%
Total assets€288,272-€460,782▲ 59.8%€409,372within the sector's middle half▼ 11.2%€357,177within the sector's middle half▼ 12.7%€103,974below the sector's middle half▼ 70.9%€104,625below the sector's middle half▲ 0.6%€114,026below the sector's middle half▲ 9.0%€737,334within the sector's middle half▲ 547%
Debt€71,426-€180,948▲ 153%€119,501▼ 34.0%€51,018▼ 57.3%€42,004▼ 17.7%€31,424▼ 25.2%€16,203▼ 48.4%€537,334▲ 33×
Working capital€202,195-€251,789▲ 24.5%€282,055above the sector's middle half▲ 12.0%€301,479above the sector's middle half▲ 6.9%€57,844within the sector's middle half▼ 80.8%€69,763within the sector's middle half▲ 20.6%€91,082within the sector's middle half▲ 30.6%€284,778above the sector's middle half▲ 213%
Solvency75.2%-60.7%▼ 14.5pp70.8%within the sector's middle half▲ 10.1pp85.7%above the sector's middle half▲ 14.9pp59.6%within the sector's middle half▼ 26.1pp70.0%within the sector's middle half▲ 10.4pp85.8%above the sector's middle half▲ 15.8pp27.1%within the sector's middle half▼ 58.7pp
Current ratio4.72-2.47▼ 2.253.40within the sector's middle half▲ 0.936.93above the sector's middle half▲ 3.532.38within the sector's middle half▼ 4.553.22within the sector's middle half▲ 0.846.62above the sector's middle half▲ 3.402.18within the sector's middle half▼ 4.44
Return on assets (ROA)5.8%-13.7%▲ 7.8pp2.5%within the sector's middle half▼ 11.2pp4.6%within the sector's middle half▲ 2.1pp-234.9%below the sector's middle half▼ 239.4pp10.7%within the sector's middle half▲ 245.6pp21.6%within the sector's middle half▲ 10.9pp28.3%above the sector's middle half▲ 6.7pp
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 €11,557, after a profit of €23,993 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 €737,334
Fixed assets
€211,706 ▲ 31×
Current assets
€525,628 ▲ 390%
Equity and liabilities €737,334
Equity
€200,000 ▲ 104%
Debt
€537,334 ▲ 33×
Debt's share of the balance-sheet total rises from 14.2% to 72.9%. Equity and debt are higher.
Key figures and ratios
ROE
104.4%▲
2024 · 25.2%
Debt ≤ 1 year
€240,851▲
2024 · €16,203
Debt > 1 year
€288,234
Income taxes
€2,484▲
2024 · €375
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 | - | €1,343 | €1,236 | €8,399 | €250,216 |
| Depreciation and write-downs of the year | €4,899 | €2,076 | €1,924 | €5,096 | €29,721 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €479 awarded · €479 paidAnnual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €9,970 | - |
| Remuneration, social security and pensions62 | - | - | - | €1,378 | €0 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,332 | €13,194 | €660 | €4,899 | €2,076 | €1,924 | €5,096 | €29,721 | ▲ 483% |
| Other operating charges640/8 | - | - | - | €740 | €215,519 | €972 | €1,250 | €1,469 | ▲ 17.6% |
| Gross operating margin9900 | €38,574 | €87,789 | €8,374 | €30,992 | -€26,017 | €14,549 | €30,339 | €19,633 | ▼ 35.3% |
| Operating profit (loss)9901 | €16,841 | €72,387 | €4,888 | €23,975 | -€243,613 | €11,654 | €23,993 | -€11,557 | - |
| Financial income75/76B | - | - | - | €12 | €0 | €250 | €1,483 | €244,579 | ▲ 165× |
| Recurring financial income75 | €13,018 | €8,094 | €7,664 | €12 | €0 | €250 | €1,483 | €244,579 | ▲ 165× |
| Financial charges65/66B | - | - | - | €771 | €449 | €374 | €478 | €21,701 | ▲ 45× |
| Recurring financial charges65 | €553 | €402 | €204 | €771 | €449 | €374 | €478 | €21,701 | ▲ 45× |
| Profit (loss) for the period before taxes9903 | €29,306 | €80,080 | €12,348 | €23,216 | -€244,062 | €11,531 | €24,997 | €211,321 | ▲ 745% |
| Income taxes67/77 | €12,461 | €17,091 | €2,311 | €6,928 | €127 | €300 | €375 | €2,484 | ▲ 563% |
| Profit (loss) for the period9904 | €16,845 | €62,989 | €10,037 | €16,288 | -€244,189 | €11,231 | €24,622 | €208,837 | ▲ 748% |
| Profit (loss) for the period to be appropriated9905 | €16,845 | €62,989 | €10,037 | €16,288 | -€244,189 | €11,231 | €24,622 | €208,837 | ▲ 748% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €288,272 | €460,782 | €409,372 | €357,177 | €103,974 | €104,625 | €114,026 | €737,334 | ▲ 547% |
| Fixed assets21/28 | €31,657 | €37,536 | €9,758 | €4,859 | €4,126 | €3,438 | €6,741 | €211,706 | ▲ 31× |
| Tangible fixed assets22/27 | €31,657 | €37,536 | €9,758 | €4,859 | €4,126 | €3,438 | €6,741 | €211,706 | ▲ 31× |
| Plant, machinery and equipment23 | - | - | - | - | €1,186 | €738 | €291 | €3,808 | ▲ 13× |
| Furniture and vehicles24 | - | - | - | €4,859 | €2,940 | €2,700 | €6,450 | €207,898 | ▲ 32× |
| Current assets29/58 | €256,614 | €423,246 | €399,613 | €352,318 | €99,848 | €101,187 | €107,285 | €525,628 | ▲ 390% |
| Amounts receivable within one year40/41 | €238,905 | €392,994 | €340,619 | €298,947 | €87,084 | €73,551 | €90,821 | €246,036 | ▲ 171% |
| Trade receivables40 | - | - | - | €110,426 | €87,084 | €23,256 | €9,295 | €59,664 | ▲ 542% |
| Other amounts receivable41 | - | - | - | €188,522 | €0 | €50,294 | €81,525 | €186,372 | ▲ 129% |
| Cash at bank and in hand54/58 | €3,494 | €7,882 | €28,777 | €13,683 | €5,113 | €22,391 | €13,581 | €279,593 | ▲ 21× |
| Deferred charges and accrued income490/1 | - | - | - | €39,688 | €7,651 | €5,245 | €2,884 | €0 | ▼ 100% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €288,272 | €460,782 | €409,372 | €357,177 | €103,974 | €104,625 | €114,026 | €737,334 | ▲ 547% |
| Equity10/15 | €216,845 | €279,834 | €289,871 | €306,159 | €61,970 | €73,201 | €97,823 | €200,000 | ▲ 104% |
| Contributions10/11 | €200,000 | €200,000 | - | €200,000 | €200,000 | €200,000 | €200,000 | €200,000 | = |
| Reserves13 | €842 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | €0 | ▼ 100% |
| Non-distributable reserves130/1 | - | - | - | €2,000 | €2,000 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €2,000 | €2,000 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | - | - | €2,000 | €2,000 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | €16,003 | €77,834 | €87,871 | €104,159 | -€140,030 | -€128,799 | -€104,177 | €0 | - |
| Amounts payable17/49 | €71,426 | €180,948 | €119,501 | €51,018 | €42,004 | €31,424 | €16,203 | €537,334 | ▲ 33× |
| Amounts payable after more than one year17 | €17,007 | €9,491 | €1,943 | €0 | - | - | - | €288,234 | - |
| Financial debts170/4 | - | - | - | €0 | - | - | - | €88,234 | - |
| Other amounts payable178/9 | - | - | - | - | - | - | - | €200,000 | - |
| Amounts payable within one year42/48 | €54,419 | €171,457 | €117,558 | €50,840 | €42,004 | €31,424 | €16,203 | €240,851 | ▲ 15× |
| Current portion of amounts payable after more than one year42 | - | - | - | €0 | - | - | - | €23,053 | - |
| Trade debts44 | €8,858 | €95,106 | €82,848 | €25,075 | €11,881 | €14,560 | €6,285 | €29,351 | ▲ 367% |
| Suppliers440/4 | - | - | - | €25,075 | €11,881 | €14,560 | €6,285 | €29,351 | ▲ 367% |
| Taxes, remuneration and social security45 | - | - | - | €11,534 | €8,267 | €3,022 | €2,077 | €5,024 | ▲ 142% |
| Taxes450/3 | - | - | - | €11,534 | €8,267 | €3,022 | €2,077 | €5,024 | ▲ 142% |
| Other amounts payable47/48 | - | - | - | €14,231 | €21,856 | €13,842 | €7,840 | €183,423 | ▲ 23× |
| Accrued charges and deferred income492/3 | - | - | - | €178 | €0 | - | - | €8,250 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €16,845 | €62,989 | €10,037 | €16,288 | -€244,189 | €11,231 | €24,622 | €208,837 | ▲ 748% |
| + Depreciation and write-downs630 | €17,332 | €13,194 | €660 | €4,899 | €2,076 | €1,924 | €5,096 | €29,721 | ▲ 483% |
| Operating cash flow (approximation) | €34,178 | €76,183 | €10,697 | €21,187 | -€242,113 | €13,154 | €29,719 | €238,558 | ▲ 703% |
| Investment in fixed assets (approximation) | - | -€19,073 | €27,118 | €0 | -€1,343 | -€1,236 | -€8,399 | -€234,686 | ▼ 2,694% |
| Change in cash | - | €4,388 | €20,895 | -€15,094 | -€8,570 | €17,279 | -€8,811 | €266,012 | - |
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 | micro format | 29-06-2026 | 2026-00213538 | |
| 31-12-2024 | micro format | 17-07-2025 | 2025-00289925 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00435164 | |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00411880 | |
| 31-12-2021 | micro format | 23-06-2022 | 2022-20122577 | |
| 31-12-2020 | micro format | 11-06-2021 | 2021-19400478 | |
| 31-12-2019 | micro format | 23-09-2020 | 2020-55500558 | |
| 31-12-2018 | micro format | 28-08-2019 | 2019-55900149 |