Financials · financial year 2025, micro format
Annual accounts 2025 filed on 29-01-2026 PDF all 13 filings
Equity
€285,828▲ 13.6%
2024 · €251,666
Net result
€34,162▼ 78.5%
2024 · €158,764
Total assets
€838,494▲ 12.2%
2024 · €747,003
Solvency
34.1%▲ 0.4pp
2024 · 33.7%
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€69,484
▼ 67.4%
2025
20192025
Net result
€34,162
▼ 78.5%
2025
middle half of the sector
20192025
Equity
€285,828
▲ 13.6%
2025
middle half of the sector
20192025
Total assets
€838,494
▲ 12.2%
2025
middle half of the sector
20192025
Debt
€552,666
▲ 11.6%
2025
20192025
Working capital
-€267,798
▲ 2.9%
2025
lowest quarter of the sector
20192025
Solvency
34.1%
▲ 0.4pp
2025
middle half of the sector
20192025
Current ratio
0.33
▲ 0.11
2025
lowest quarter of the sector
20192025
Return on assets (ROA)
4.1%
▼ 17.2pp
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€78,192-€45,144▼ 42.3%-€18,430-€5,966▲ 67.6%€13,011€213,242▲ 16×€69,484▼ 67.4%
Net result€39,171-€15,940within the sector's middle half▼ 59.3%-€41,578below the sector's middle half-€28,373below the sector's middle half▲ 31.8%-€5,608below the sector's middle half▲ 80.2%€158,764above the sector's middle half€34,162within the sector's middle half▼ 78.5%
Equity€152,522-€168,462within the sector's middle half▲ 10.5%€126,884within the sector's middle half▼ 24.7%€98,511within the sector's middle half▼ 22.4%€92,903within the sector's middle half▼ 5.7%€251,666within the sector's middle half▲ 171%€285,828within the sector's middle half▲ 13.6%
Total assets€780,724-€773,295within the sector's middle half▼ 1.0%€727,358within the sector's middle half▼ 5.9%€657,221within the sector's middle half▼ 9.6%€626,565within the sector's middle half▼ 4.7%€747,003within the sector's middle half▲ 19.2%€838,494within the sector's middle half▲ 12.2%
Debt€628,202-€604,833▼ 3.7%€600,474▼ 0.7%€558,711▼ 7.0%€533,663▼ 4.5%€495,337▼ 7.2%€552,666▲ 11.6%
Working capital-€326,532--€312,972below the sector's middle half▲ 4.2%-€363,643below the sector's middle half▼ 16.2%-€369,892below the sector's middle half▼ 1.7%-€352,117below the sector's middle half▲ 4.8%-€275,698below the sector's middle half▲ 21.7%-€267,798below the sector's middle half▲ 2.9%
Solvency19.5%-21.8%below the sector's middle half▲ 2.2pp17.4%below the sector's middle half▼ 4.3pp15.0%below the sector's middle half▼ 2.5pp14.8%below the sector's middle half▼ 0.2pp33.7%within the sector's middle half▲ 18.9pp34.1%within the sector's middle half▲ 0.4pp
Current ratio0.11-0.15below the sector's middle half▲ 0.040.09below the sector's middle half▼ 0.060.03below the sector's middle half▼ 0.060.07below the sector's middle half▲ 0.050.22below the sector's middle half▲ 0.140.33below the sector's middle half▲ 0.11
Return on assets (ROA)5.0%-2.1%within the sector's middle half▼ 3.0pp-5.7%below the sector's middle half▼ 7.8pp-4.3%below the sector's middle half▲ 1.4pp-0.9%below the sector's middle half▲ 3.4pp21.3%within the sector's middle half▲ 22.1pp4.1%within the sector's middle half▼ 17.2pp
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 67% lower than 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 €838,494
Fixed assets
€709,338 ▲ 5.8%
Current assets
€129,156 ▲ 68.2%
Equity and liabilities €838,494
Equity
€285,828 ▲ 13.6%
Debt
€552,666 ▲ 11.6%
Debt's share of the balance-sheet total falls from 66.3% to 65.9%. Equity and debt are higher.
Key figures and ratios
ROE
12.0%▼
2024 · 63.1%
Debt ≤ 1 year
€396,953▲
2024 · €352,468
Debt > 1 year
€142,704▲
2024 · €140,481
Income taxes
€17,613▼
2024 · €34,521
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €11,588 | - | €108,774 | €97,601 |
| Financial fixed assets | - | - | €3,000 | - |
| Depreciation and write-downs of the year | €56,652 | €48,957 | €39,676 | €58,496 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €53,343 | €59,587 | €52,450 | €56,652 | €48,957 | €39,676 | €58,496 | ▲ 47.4% |
| Other operating charges640/8 | - | - | - | €5,630 | €3,938 | €6,295 | €10,595 | ▲ 68.3% |
| Gross operating margin9900 | €151,142 | €109,138 | €38,170 | €56,316 | €65,906 | €259,213 | €138,575 | ▼ 46.5% |
| Operating profit (loss)9901 | €78,192 | €45,144 | -€18,430 | -€5,966 | €13,011 | €213,242 | €69,484 | ▼ 67.4% |
| Financial income75/76B | - | - | - | - | €3 | €57 | €99 | ▲ 73.6% |
| Recurring financial income75 | €6 | €2 | €1 | - | €3 | €57 | €99 | ▲ 73.6% |
| Financial charges65/66B | - | - | - | €22,407 | €18,621 | €20,015 | €17,808 | ▼ 11.0% |
| Recurring financial charges65 | €21,700 | €24,258 | €23,149 | €22,407 | €18,621 | €20,015 | €17,808 | ▼ 11.0% |
| Profit (loss) for the period before taxes9903 | €56,497 | €20,889 | -€41,578 | -€28,373 | -€5,607 | €193,285 | €51,775 | ▼ 73.2% |
| Income taxes67/77 | €17,326 | €4,949 | €0 | - | €1 | €34,521 | €17,613 | ▼ 49.0% |
| Profit (loss) for the period9904 | €39,171 | €15,940 | -€41,578 | -€28,373 | -€5,608 | €158,764 | €34,162 | ▼ 78.5% |
| Profit (loss) for the period to be appropriated9905 | €39,171 | €15,940 | -€41,578 | -€28,373 | -€5,608 | €158,764 | €34,162 | ▼ 78.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €780,724 | €773,295 | €727,358 | €657,221 | €626,565 | €747,003 | €838,494 | ▲ 12.2% |
| Fixed assets21/28 | €739,887 | €717,732 | €692,157 | €647,093 | €598,136 | €670,234 | €709,338 | ▲ 5.8% |
| Tangible fixed assets22/27 | €739,887 | €717,732 | €692,157 | €647,093 | €598,136 | €667,234 | €706,338 | ▲ 5.9% |
| Land and buildings22 | - | - | - | €647,093 | €598,136 | €667,234 | €631,571 | ▼ 5.3% |
| Furniture and vehicles24 | - | - | - | - | - | - | €74,768 | - |
| Financial fixed assets28 | - | - | - | - | - | €3,000 | €3,000 | = |
| Current assets29/58 | €40,837 | €55,563 | €35,201 | €10,129 | €28,429 | €76,770 | €129,156 | ▲ 68.2% |
| Stocks and contracts in progress3 | - | - | - | - | - | €26,927 | €26,927 | = |
| Stocks30/36 | - | - | - | - | - | €26,927 | €26,927 | = |
| Amounts receivable within one year40/41 | €126 | €5,051 | - | €1,020 | €3,172 | €4,598 | €43,744 | ▲ 851% |
| Trade receivables40 | - | - | - | - | - | - | €33,600 | - |
| Other amounts receivable41 | - | - | - | €1,020 | €3,172 | €4,598 | €10,144 | ▲ 121% |
| Cash at bank and in hand54/58 | €40,711 | €511 | €35,197 | €9,089 | €25,226 | €42,813 | €52,579 | ▲ 22.8% |
| Deferred charges and accrued income490/1 | - | - | - | €19 | €32 | €2,432 | €5,906 | ▲ 143% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €780,724 | €773,295 | €727,358 | €657,221 | €626,565 | €747,003 | €838,494 | ▲ 12.2% |
| Equity10/15 | €152,522 | €168,462 | €126,884 | €98,511 | €92,903 | €251,666 | €285,828 | ▲ 13.6% |
| Contributions10/11 | €35,000 | €35,000 | - | €35,000 | €35,000 | €35,000 | €35,000 | = |
| Reserves13 | €3,500 | €3,500 | €3,500 | €3,500 | €3,500 | €3,500 | €3,500 | = |
| Non-distributable reserves130/1 | - | - | - | €3,500 | €3,500 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €3,500 | €3,500 | - | - | - |
| Distributable reserves133 | - | - | - | - | - | €3,500 | €3,500 | = |
| Profit (loss) carried forward14 | €114,022 | €129,962 | €88,384 | €60,011 | €54,403 | €213,166 | €247,328 | ▲ 16.0% |
| Amounts payable17/49 | €628,202 | €604,833 | €600,474 | €558,711 | €533,663 | €495,337 | €552,666 | ▲ 11.6% |
| Amounts payable after more than one year17 | €238,409 | €203,318 | €168,073 | €132,671 | €97,110 | €140,481 | €142,704 | ▲ 1.6% |
| Financial debts170/4 | - | - | - | €132,671 | €97,110 | €140,481 | €142,704 | ▲ 1.6% |
| Amounts payable within one year42/48 | €367,369 | €368,535 | €398,844 | €380,020 | €380,547 | €352,468 | €396,953 | ▲ 12.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €37,974 | €35,561 | €46,629 | €61,173 | ▲ 31.2% |
| Trade debts44 | €26,020 | €10,566 | €14,233 | - | €3,689 | €3,624 | €19,753 | ▲ 445% |
| Suppliers440/4 | - | - | - | - | €3,689 | €3,624 | €19,753 | ▲ 445% |
| Taxes, remuneration and social security45 | - | - | - | €4,827 | €4,794 | €9,185 | €26,277 | ▲ 186% |
| Taxes450/3 | - | - | - | €4,827 | €4,794 | €9,185 | €22,308 | ▲ 143% |
| Remuneration and social security454/9 | - | - | - | - | - | - | €3,969 | - |
| Other amounts payable47/48 | - | - | - | €337,220 | €336,502 | €293,030 | €289,750 | ▼ 1.1% |
| Accrued charges and deferred income492/3 | - | - | - | €46,019 | €56,006 | €2,388 | €13,008 | ▲ 445% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €39,171 | €15,940 | -€41,578 | -€28,373 | -€5,608 | €158,764 | €34,162 | ▼ 78.5% |
| + Depreciation and write-downs630 | €53,343 | €59,587 | €52,450 | €56,652 | €48,957 | €39,676 | €58,496 | ▲ 47.4% |
| Operating cash flow (approximation) | €92,515 | €75,528 | €10,872 | €28,278 | €43,349 | €198,440 | €92,658 | ▼ 53.3% |
| Investment in fixed assets (approximation) | - | -€37,433 | -€26,875 | -€11,588 | €0 | -€111,774 | -€97,601 | ▲ 12.7% |
| Change in cash | - | -€40,199 | €34,686 | -€26,108 | €16,137 | €17,587 | €9,767 | ▼ 44.5% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 13 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 29-01-2026 | 2026-00017911 | |
| 30-06-2024 | micro format | 27-12-2024 | 2024-00626551 | |
| 30-06-2023 | micro format | 28-12-2023 | 2023-00538336 | |
| 30-06-2022 | micro format | 15-02-2023 | 2023-00027617 | |
| 30-06-2021 | micro format | 18-02-2022 | 2022-06000260 | |
| 30-06-2020 | micro format | 02-02-2021 | 2021-04800183 | |
| 30-06-2019 | micro format | 31-01-2020 | 2020-03900507 | |
| 30-06-2018 | micro format | 26-12-2018 | 2018-75800479 | |
| 30-06-2017 | micro format | 23-01-2018 | 2018-02100189 | |
| 30-06-2016 | abbreviated format | 25-01-2017 | 2017-02400596 |