Financials · financial year 2025, abbreviated format
2025 annual accounts filed 19 days after the deadline Filed on 19 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00419594.
Annual accounts 2025 filed on 19-08-2026 at the NBB all 24 filings
Equity
€1.6m▲ 126%
2024 · €718,994
Net result
€905,010▲ 16×
2024 · €58,253
Total assets
€1.9m▼ 16.6%
2024 · €2.3m
Solvency
85.5%▲ 53.9pp
2024 · 31.6%
In the rankings
#5 company by equity in Duffel, Finance and insurance sector#8 company by total assets in Duffel, Finance and insurance sector#8 oldest company in Duffel, Finance and insurance sector
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
€104,305
▼ 9.5%
2025
20182025
Net result
€905,010
▲ 16×
2025
highest quarter of the sector
20182025
Equity
€1.6m
▲ 126%
2025
middle half of the sector
20182025
Total assets
€1.9m
▼ 16.6%
2025
middle half of the sector
20182025
Debt
€275,520
▼ 82.3%
2025
20182025
Working capital
€91,941
▲ 33.7%
2025
middle half of the sector
20182025
Solvency
85.5%
▲ 53.9pp
2025
highest quarter of the sector
20182025
Current ratio
9.44
▲ 0.93
2025
highest quarter of the sector
20182025
Return on assets (ROA)
47.6%
▲ 45.1pp
2025
highest quarter of the sector
20182025
Staff (FTE)
0
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€0.2m-€0.2m=€0.2m▲ 6.9%€0.3m▲ 10.8%€0.2m
Operating result€0.1m-€0.07m▼ 24.2%€0.09m▲ 21.5%€0.1m▲ 55.1%€0.1m▼ 11.1%€0.1m▲ 18.7%€0.1m▼ 19.4%€0.1m▼ 9.5%
Net result€0.001m--€0.02m€0.01mwithin the sector's middle half€0.05mwithin the sector's middle half▲ 467%€0.04mwithin the sector's middle half▼ 25.2%€0.08mwithin the sector's middle half▲ 106%€0.06mwithin the sector's middle half▼ 30.4%€0.9mabove the sector's middle half▲ 16×
Equity€0.5m-€0.5m▼ 4.1%€0.5mwithin the sector's middle half▲ 2.0%€0.5mwithin the sector's middle half▲ 11.0%€0.6mwithin the sector's middle half▲ 7.6%€0.7mwithin the sector's middle half▲ 14.5%€0.7mwithin the sector's middle half▲ 8.8%€1.6mwithin the sector's middle half▲ 126%
Total assets€3.5m-€2.9m▼ 17.0%€2.7mwithin the sector's middle half▼ 6.6%€2.6mwithin the sector's middle half▼ 6.1%€2.6mwithin the sector's middle half▲ 1.4%€2.3mwithin the sector's middle half▼ 12.0%€2.3mwithin the sector's middle half▲ 0.1%€1.9mwithin the sector's middle half▼ 16.6%
Debt€3.0m-€2.4m▼ 19.1%€2.2m▼ 8.3%€2.0m▼ 9.7%€2.0m▼ 0.3%€1.6m▼ 19.6%€1.6m▼ 3.5%€0.3m▼ 82.3%
Working capital€0.05m-€0.2m▲ 321%€0.01mwithin the sector's middle half▼ 95.6%€0.05mwithin the sector's middle half▲ 395%€0.1mwithin the sector's middle half▲ 198%€0.09mwithin the sector's middle half▼ 38.6%€0.07mwithin the sector's middle half▼ 25.0%€0.09mwithin the sector's middle half▲ 33.7%
Solvency14.1%-16.3%▲ 2.2pp17.8%below the sector's middle half▲ 1.5pp21.0%below the sector's middle half▲ 3.2pp22.3%below the sector's middle half▲ 1.3pp29.0%within the sector's middle half▲ 6.7pp31.6%within the sector's middle half▲ 2.5pp85.5%above the sector's middle half▲ 53.9pp
Current ratio1.09-11.19▲ 10.101.17within the sector's middle half▼ 10.022.49within the sector's middle half▲ 1.322.27within the sector's middle half▼ 0.227.16above the sector's middle half▲ 4.898.51above the sector's middle half▲ 1.349.44above the sector's middle half▲ 0.93
Return on assets (ROA)0.0%--0.6%▼ 0.7pp0.4%within the sector's middle half▲ 1.0pp2.1%within the sector's middle half▲ 1.8pp1.6%within the sector's middle half▼ 0.6pp3.7%within the sector's middle half▲ 2.1pp2.6%within the sector's middle half▼ 1.1pp47.6%above the sector's middle half▲ 45.1pp
Staff (FTE)0within the sector's middle half
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 9% lower than in 2024 and the lowest since 2021. It is the second fall in a row.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.9m
Fixed assets
€1.8m ▼ 18.3%
Current assets
€102,841 ▲ 31.9%
Equity and liabilities €1.9m
Equity
€1.6m ▲ 126%
Debt
€275,520 ▼ 82.3%
Debt's share of the balance-sheet total falls from 68.4% to 14.5%. Equity is higher and debt is lower.
Key figures and ratios
ROE
55.7%▲
2024 · 8.1%
Debt ≤ 1 year
€10,899▲
2024 · €9,164
Debt > 1 year
€264,620▼
2024 · €1.6m
Income taxes
€20,535▲
2024 · €16,393
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 |
|---|---|---|---|---|---|
| Mortgage mandates | €114.3m | €114.3m | €114.3m | €114.3m | - |
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 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | - | €226,000 | - |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €177,603 | €148,628 | €148,628 | €152,005 | €158,533 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €216,000 | €216,000 | €231,000 | €256,000 | - | €232,000 | - | - | - |
| Non-recurring operating income76A | - | - | - | - | - | - | €1,262 | €0 | ▼ 100% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €175,315 | - | €117,732 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €207,124 | €205,494 | €188,229 | €177,603 | €148,628 | €148,628 | €152,005 | €158,533 | ▲ 4.3% |
| Other operating charges640/8 | - | - | - | €975 | €5,566 | €3,912 | €4,426 | €2,738 | ▼ 38.1% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €4,084 | €0 | ▼ 100% |
| Gross operating margin9900 | €305,567 | €280,033 | €278,957 | €314,183 | €274,735 | €295,581 | €275,749 | €265,576 | ▼ 3.7% |
| Operating profit (loss)9901 | €95,027 | €72,005 | €87,458 | €135,606 | €120,541 | €143,041 | €115,234 | €104,305 | ▼ 9.5% |
| Financial income75/76B | - | - | - | - | - | - | - | €840,380 | - |
| Recurring financial income75 | - | €0 | €224 | - | - | - | - | €840,380 | - |
| Non-recurring financial income76B | - | - | - | - | - | - | - | €840,380 | - |
| Financial charges65/66B | - | - | - | €70,227 | €49,788 | €43,552 | €40,588 | €19,140 | ▼ 52.8% |
| Recurring financial charges65 | €95,812 | €92,857 | €78,748 | €70,227 | €49,788 | €43,552 | €40,588 | €19,140 | ▼ 52.8% |
| Profit (loss) for the period before taxes9903 | -€785 | -€20,851 | €8,935 | €65,379 | €70,753 | €99,488 | €74,646 | €925,546 | ▲ 12× |
| Transfer from deferred taxes780 | - | - | - | €2,074 | - | - | - | - | - |
| Income taxes67/77 | - | - | - | €13,032 | €30,071 | €15,799 | €16,393 | €20,535 | ▲ 25.3% |
| Profit (loss) for the period9904 | €1,289 | -€18,777 | €9,599 | €54,421 | €40,681 | €83,690 | €58,253 | €905,010 | ▲ 16× |
| Transfer from tax-exempt reserves789 | - | - | - | €664 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €1,953 | -€18,113 | €11,673 | €55,085 | €40,681 | €83,690 | €58,253 | €905,010 | ▲ 16× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €3.5m | €2.9m | €2.7m | €2.6m | €2.6m | €2.3m | €2.3m | €1.9m | ▼ 16.6% |
| Fixed assets21/28 | €2.9m | €2.7m | €2.6m | €2.5m | €2.3m | €2.2m | €2.2m | €1.8m | ▼ 18.3% |
| Tangible fixed assets22/27 | €2.6m | €2.4m | €2.4m | €2.2m | €2.1m | €1.9m | €2.0m | €1.8m | ▼ 8.1% |
| Land and buildings22 | - | - | - | €2.1m | €2.0m | €1.9m | €1.8m | €1.6m | ▼ 6.5% |
| Furniture and vehicles24 | - | - | - | €0.1m | €0.1m | €0.06m | €0.2m | €0.2m | ▼ 22.0% |
| Financial fixed assets28 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0 | ▼ 100% |
| Current assets29/58 | €0.6m | €0.3m | €0.07m | €0.08m | €0.3m | €0.1m | €0.08m | €0.1m | ▲ 31.9% |
| Amounts receivable within one year40/41 | €0.4m | €0.2m | €0.03m | €0.03m | €0.3m | €0.02m | €0.04m | €0.05m | ▲ 47.3% |
| Trade receivables40 | - | - | - | €0.03m | €0.3m | €0.02m | €0.02m | €0.05m | ▲ 114% |
| Other amounts receivable41 | - | - | - | - | €0.007m | €0.002m | €0.02m | €0.009m | ▼ 44.2% |
| Cash at bank and in hand54/58 | €0.2m | €0.01m | €0.03m | €0.04m | €357 | €0.08m | €0.04m | €0.04m | ▲ 18.9% |
| Deferred charges and accrued income490/1 | - | - | - | €0.01m | €0.008m | €0.01m | €0.006m | €0.006m | ▲ 13.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €3.5m | €2.9m | €2.7m | €2.6m | €2.6m | €2.3m | €2.3m | €1.9m | ▼ 16.6% |
| Equity10/15 | €0.5m | €0.5m | €0.5m | €0.5m | €0.6m | €0.7m | €0.7m | €1.6m | ▲ 126% |
| Contributions10/11 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Reserves13 | €0.2m | €0.2m | €0.2m | €0.2m | €0.3m | €0.4m | €0.4m | €1.3m | ▲ 216% |
| Non-distributable reserves130/1 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Reserves not available under the articles1311 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Distributable reserves133 | - | - | - | €0.2m | €0.2m | €0.3m | €0.4m | €1.3m | ▲ 233% |
| Profit (loss) carried forward14 | -€0.01m | -€0.03m | -€0.02m | €0.04m | - | - | - | - | - |
| Provisions and deferred taxes16 | €0.002m | €0.001m | €0.001m | - | - | - | - | - | - |
| Amounts payable17/49 | €3.0m | €2.4m | €2.2m | €2.0m | €2.0m | €1.6m | €1.6m | €0.3m | ▼ 82.3% |
| Amounts payable after more than one year17 | €2.4m | €2.4m | €2.2m | €2.0m | €1.9m | €1.6m | €1.6m | €0.3m | ▼ 82.9% |
| Financial debts170/4 | - | - | - | €2.0m | €1.9m | €1.6m | €1.6m | €0.3m | ▼ 82.9% |
| Amounts payable within one year42/48 | €0.6m | €0.02m | €0.06m | €0.03m | €0.1m | €0.01m | €0.009m | €0.01m | ▲ 18.9% |
| Trade debts44 | €0.2m | €0.02m | €0.06m | €0.01m | €0.08m | €0.009m | €0.009m | €0.002m | ▼ 80.7% |
| Suppliers440/4 | - | - | - | €0.01m | €0.08m | €0.009m | €0.009m | €0.002m | ▼ 80.7% |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.04m | €0.006m | - | €0.009m | - |
| Taxes450/3 | - | - | - | €0.02m | €0.04m | €0.006m | - | €0.009m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.001m | -€0.02m | €0.01m | €0.05m | €0.04m | €0.08m | €0.06m | €0.9m | ▲ 16× |
| + Depreciation and write-downs630 | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 4.3% |
| Operating cash flow (approximation) | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €1.1m | ▲ 406% |
| Investment in fixed assets (approximation) | - | €0 | -€0.2m | €0 | €0 | €0 | -€0.2m | €0.2m | - |
| Change in cash | - | -€0.2m | €0.01m | €0.01m | -€0.04m | €0.08m | -€0.04m | €0.007m | - |
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 24 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 19-08-2026 | 2026-00419594 | |
| 31-12-2024 | abbreviated format | 22-07-2025 | 2025-00303251 | |
| 31-12-2023 | abbreviated format | 05-07-2024 | 2024-00221520 | |
| 31-12-2022 | abbreviated format | 20-06-2023 | 2023-00163566 | |
| 31-12-2021 | abbreviated format | 05-07-2022 | 2022-20151803 | |
| 31-12-2020 | abbreviated format | 28-01-2022 | 2022-04800170 | |
| 31-12-2019 | micro format | 31-08-2020 | 2020-49000282 | |
| 31-12-2018 | micro format | 23-08-2019 | 2019-51000500 | |
| 31-12-2017 | micro format | 31-08-2018 | 2018-62100509 | |
| 31-03-2016 | abbreviated format | 31-10-2016 | 2016-67100248 |