Financials · financial year 2025, micro format
Annual accounts 2025 filed on 01-07-2026 at the NBB all 18 filings
Equity
€553,096▲ 3.0%
2024 · €537,058
Net result
€16,038▼ 74.5%
2024 · €62,888
Total assets
€578,647▲ 1.9%
2024 · €567,636
Solvency
95.6%▲ 1.0pp
2024 · 94.6%
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€21,611
▼ 46.2%
2025
20182025
Net result
€16,038
▼ 74.5%
2025
middle half of the sector
20182025
Equity
€553,096
▲ 3.0%
2025
highest quarter of the sector
20182025
Total assets
€578,647
▲ 1.9%
2025
middle half of the sector
20182025
Debt
€25,551
▼ 16.4%
2025
20182025
Working capital
€577,926
▲ 1.9%
2025
highest quarter of the sector
20182025
Solvency
95.6%
▲ 1.0pp
2025
highest quarter of the sector
20182025
Current ratio
no figure
2025
20182025
Return on assets (ROA)
2.8%
▼ 8.3pp
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
Operating result€25,387-€58,774▲ 132%€33,299▼ 43.3%€78,690▲ 136%€53,026▼ 32.6%€26,425▼ 50.2%€40,191▲ 52.1%€21,611▼ 46.2%
Net result€18,101-€39,874▲ 120%€27,740within the sector's middle half▼ 30.4%€60,758within the sector's middle half▲ 119%€35,929within the sector's middle half▼ 40.9%€18,100within the sector's middle half▼ 49.6%€62,888within the sector's middle half▲ 247%€16,038within the sector's middle half▼ 74.5%
Equity€291,768-€331,642▲ 13.7%€359,382within the sector's middle half▲ 8.4%€420,140within the sector's middle half▲ 16.9%€456,069above the sector's middle half▲ 8.6%€474,170above the sector's middle half▲ 4.0%€537,058above the sector's middle half▲ 13.3%€553,096above the sector's middle half▲ 3.0%
Total assets€310,249-€358,994▲ 15.7%€406,343within the sector's middle half▲ 13.2%€452,660below the sector's middle half▲ 11.4%€479,634within the sector's middle half▲ 6.0%€503,482within the sector's middle half▲ 5.0%€567,636within the sector's middle half▲ 12.7%€578,647within the sector's middle half▲ 1.9%
Debt€18,481-€27,352▲ 48.0%€46,961▲ 71.7%€32,520▼ 30.8%€23,564▼ 27.5%€29,312▲ 24.4%€30,578▲ 4.3%€25,551▼ 16.4%
Working capital€309,944-€354,787▲ 14.5%€400,158above the sector's middle half▲ 12.8%€448,223above the sector's middle half▲ 12.0%€475,604above the sector's middle half▲ 6.1%€502,116above the sector's middle half▲ 5.6%€567,065above the sector's middle half▲ 12.9%€577,926above the sector's middle half▲ 1.9%
Solvency94.0%-92.4%▼ 1.7pp88.4%above the sector's middle half▼ 3.9pp92.8%above the sector's middle half▲ 4.4pp95.1%above the sector's middle half▲ 2.3pp94.2%above the sector's middle half▼ 0.9pp94.6%above the sector's middle half▲ 0.4pp95.6%above the sector's middle half▲ 1.0pp
Current ratio85.3482.24above the sector's middle half▼ 3.11
Return on assets (ROA)5.8%-11.1%▲ 5.3pp6.8%within the sector's middle half▼ 4.3pp13.4%within the sector's middle half▲ 6.6pp7.5%within the sector's middle half▼ 5.9pp3.6%within the sector's middle half▼ 3.9pp11.1%within the sector's middle half▲ 7.5pp2.8%within the sector's middle half▼ 8.3pp
above
within
below
The sector band is the middle half of the companies in Activities auxiliary to financial services and insurance activities (NACE 66). 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 46% lower than in 2024 and the lowest since 2018.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €578,647
Equity
€553,096 ▲ 3.0%
Debt
€25,551 ▼ 16.4%
Debt's share of the balance-sheet total falls from 5.4% to 4.4%. Equity is higher and debt is lower.
Key figures and ratios
ROE
2.9%▼
2024 · 11.7%
Debt ≤ 1 year
€721▲
2024 · €562
Income taxes
€5,635▼
2024 · €26,834
A ratio outside any meaningful range has been withheld (balance sheet total €578,647, equity €553,096).
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 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €2,529 | - | - | - | - |
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 | €1,609 | - | - | - | - |
| Depreciation and write-downs of the year | €960 | €982 | €805 | €112 | €10 |
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 | - | - | €177 | €960 | €982 | €805 | €112 | €10 | ▼ 91.2% |
| Other operating charges640/8 | - | - | - | €791 | €348 | - | €1,172 | €400 | ▼ 65.9% |
| Gross operating margin9900 | €25,763 | €59,417 | €33,552 | €80,441 | €54,355 | €27,230 | €41,475 | €22,021 | ▼ 46.9% |
| Operating profit (loss)9901 | €25,387 | €58,774 | €33,299 | €78,690 | €53,026 | €26,425 | €40,191 | €21,611 | ▼ 46.2% |
| Financial income75/76B | - | - | - | - | - | €55 | €53,272 | €1,800 | ▼ 96.6% |
| Recurring financial income75 | - | €70 | - | - | - | €55 | €53,272 | €1,800 | ▼ 96.6% |
| Financial charges65/66B | - | - | - | €695 | €2,330 | €2,103 | €3,741 | €1,738 | ▼ 53.5% |
| Recurring financial charges65 | €25 | €1,069 | €25 | €695 | €2,330 | €2,103 | €3,741 | €1,738 | ▼ 53.5% |
| Profit (loss) for the period before taxes9903 | €25,362 | €57,775 | €33,274 | €77,995 | €50,696 | €24,378 | €89,722 | €21,673 | ▼ 75.8% |
| Income taxes67/77 | €7,262 | €17,902 | €5,534 | €17,237 | €14,767 | €6,277 | €26,834 | €5,635 | ▼ 79.0% |
| Profit (loss) for the period9904 | €18,101 | €39,874 | €27,740 | €60,758 | €35,929 | €18,100 | €62,888 | €16,038 | ▼ 74.5% |
| Profit (loss) for the period to be appropriated9905 | €18,101 | €39,874 | €27,740 | €60,758 | €35,929 | €18,100 | €62,888 | €16,038 | ▼ 74.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €310,249 | €358,994 | €406,343 | €452,660 | €479,634 | €503,482 | €567,636 | €578,647 | ▲ 1.9% |
| Fixed assets21/28 | - | - | €1,259 | €1,908 | €927 | €122 | €10 | - | - |
| Tangible fixed assets22/27 | - | - | €1,259 | €1,908 | €927 | €122 | €10 | - | - |
| Furniture and vehicles24 | - | - | - | €1,908 | €927 | €122 | €10 | - | - |
| Current assets29/58 | €310,249 | €358,994 | €405,084 | €450,752 | €478,707 | €503,360 | €567,627 | €578,647 | ▲ 1.9% |
| Amounts receivable within one year40/41 | €10,374 | €3,222 | €9,798 | €6,474 | €8,824 | €4,654 | €1,055 | €2,593 | ▲ 146% |
| Other amounts receivable41 | - | - | - | €6,474 | €8,824 | €4,654 | €1,055 | €2,593 | ▲ 146% |
| Current investments50/53 | - | €249,985 | €249,985 | €249,985 | €249,985 | €249,985 | €401,143 | €400,943 | = |
| Cash at bank and in hand54/58 | €229,304 | €21,770 | €75,301 | €87,542 | €143,353 | €172,958 | €76,648 | €99,239 | ▲ 29.5% |
| Deferred charges and accrued income490/1 | - | - | - | €106,751 | €76,545 | €75,762 | €88,780 | €75,871 | ▼ 14.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €310,249 | €358,994 | €406,343 | €452,660 | €479,634 | €503,482 | €567,636 | €578,647 | ▲ 1.9% |
| Equity10/15 | €291,768 | €331,642 | €359,382 | €420,140 | €456,069 | €474,170 | €537,058 | €553,096 | ▲ 3.0% |
| Contributions10/11 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Capital10 | - | - | - | €100,000 | €100,000 | €100,000 | - | - | - |
| Issued capital100 | - | - | - | €100,000 | €100,000 | €100,000 | - | - | - |
| Reserves13 | €55,000 | €55,000 | €55,000 | €55,000 | €55,000 | €55,000 | €55,000 | €55,000 | = |
| Non-distributable reserves130/1 | - | - | - | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Legal reserve130 | - | - | - | €10,000 | €10,000 | €10,000 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | - | - | €10,000 | €10,000 | = |
| Distributable reserves133 | - | - | - | €45,000 | €45,000 | €45,000 | €45,000 | €45,000 | = |
| Profit (loss) carried forward14 | €136,768 | €176,642 | €204,382 | €265,140 | €301,069 | €319,170 | €382,058 | €398,096 | ▲ 4.2% |
| Amounts payable17/49 | €18,481 | €27,352 | €46,961 | €32,520 | €23,564 | €29,312 | €30,578 | €25,551 | ▼ 16.4% |
| Amounts payable within one year42/48 | €305 | €4,207 | €4,926 | €2,529 | €3,103 | €1,244 | €562 | €721 | ▲ 28.3% |
| Trade debts44 | - | - | €564 | - | €701 | - | - | - | - |
| Suppliers440/4 | - | - | - | - | €701 | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €2,356 | €1,841 | €682 | - | €159 | - |
| Taxes450/3 | - | - | - | €2,356 | €1,841 | €682 | - | €159 | - |
| Other amounts payable47/48 | - | - | - | €173 | €562 | €562 | €562 | €562 | = |
| Accrued charges and deferred income492/3 | - | - | - | €29,991 | €20,461 | €28,069 | €30,017 | €24,830 | ▼ 17.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,101 | €39,874 | €27,740 | €60,758 | €35,929 | €18,100 | €62,888 | €16,038 | ▼ 74.5% |
| + Depreciation and write-downs630 | - | - | €177 | €960 | €982 | €805 | €112 | €10 | ▼ 91.2% |
| Operating cash flow (approximation) | €18,101 | €39,874 | €27,918 | €61,718 | €36,911 | €18,905 | €63,001 | €16,048 | ▼ 74.5% |
| Investment in fixed assets (approximation) | - | - | - | -€1,609 | €0 | €0 | €0 | - | - |
| Change in cash | - | -€207,534 | €53,532 | €12,240 | €55,811 | €29,606 | -€96,310 | €22,591 | - |
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 | micro format | 01-07-2026 | 2026-00233432 | |
| 31-12-2024 | micro format | 18-08-2025 | 2025-00379730 | |
| 31-12-2023 | micro format | 24-07-2024 | 2024-00276944 | |
| 31-12-2022 | micro format | 24-08-2023 | 2023-00348551 | |
| 31-12-2021 | full format | 16-08-2022 | 2022-20309110 | |
| 31-12-2020 | full format | 30-06-2021 | 2021-28500279 | |
| 31-12-2019 | micro format | 26-10-2020 | 2020-63100429 | |
| 31-12-2018 | full format | 29-07-2019 | 2019-39600470 | |
| 31-12-2017 | full format | 30-08-2018 | 2018-54500317 | |
| 31-12-2016 | full format | 25-08-2017 | 2017-49500431 |