Financials · financial year 2025, micro format
Annual accounts 2025 filed on 03-11-2025 PDF all 18 filings
Equity
€47,110▲ 19.6%
2024 · €39,404
Net result
€7,706
2024 · -€10,083
Total assets
€111,672▼ 10.7%
2024 · €125,044
Solvency
42.2%▲ 10.7pp
2024 · 31.5%
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€11,573
2025
20192025
Net result
€7,706
2025
middle half of the sector
20192025
Equity
€47,110
▲ 19.6%
2025
middle half of the sector
20192025
Total assets
€111,672
▼ 10.7%
2025
lowest quarter of the sector
20192025
Debt
€64,562
▼ 24.6%
2025
20192025
Working capital
€40,671
▲ 75.9%
2025
middle half of the sector
20192025
Solvency
42.2%
▲ 10.7pp
2025
middle half of the sector
20192025
Current ratio
2.31
▲ 0.86
2025
middle half of the sector
20192025
Return on assets (ROA)
6.9%
▲ 15.0pp
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€2,281--€6,136€12,963€26,988▲ 108%€101▼ 99.6%-€6,041€11,573
Net result-€1,720--€7,978below the sector's middle half▼ 364%€9,664within the sector's middle half€18,086within the sector's middle half▲ 87.2%-€3,603below the sector's middle half-€10,083below the sector's middle half▼ 180%€7,706within the sector's middle half
Equity€61,686-€53,708within the sector's middle half▼ 12.9%€63,372within the sector's middle half▲ 18.0%€53,090within the sector's middle half▼ 16.2%€49,487within the sector's middle half▼ 6.8%€39,404below the sector's middle half▼ 20.4%€47,110within the sector's middle half▲ 19.6%
Total assets€117,490-€101,937below the sector's middle half▼ 13.2%€113,086below the sector's middle half▲ 10.9%€168,610within the sector's middle half▲ 49.1%€140,193within the sector's middle half▼ 16.9%€125,044below the sector's middle half▼ 10.8%€111,672below the sector's middle half▼ 10.7%
Debt€55,804-€48,229▼ 13.6%€49,714▲ 3.1%€115,519▲ 132%€90,706▼ 21.5%€85,640▼ 5.6%€64,562▼ 24.6%
Working capital€34,667-€34,021within the sector's middle half▼ 1.9%€43,794within the sector's middle half▲ 28.7%€20,705within the sector's middle half▼ 52.7%€20,433within the sector's middle half▼ 1.3%€23,122within the sector's middle half▲ 13.2%€40,671within the sector's middle half▲ 75.9%
Solvency52.5%-52.7%within the sector's middle half▲ 0.2pp56.0%within the sector's middle half▲ 3.4pp31.5%within the sector's middle half▼ 24.6pp35.3%within the sector's middle half▲ 3.8pp31.5%within the sector's middle half▼ 3.8pp42.2%within the sector's middle half▲ 10.7pp
Current ratio1.67-1.73within the sector's middle half▲ 0.061.91within the sector's middle half▲ 0.181.25within the sector's middle half▼ 0.671.35within the sector's middle half▲ 0.111.44within the sector's middle half▲ 0.092.31within the sector's middle half▲ 0.86
Return on assets (ROA)-1.5%--7.8%below the sector's middle half▼ 6.4pp8.5%within the sector's middle half▲ 16.4pp10.7%within the sector's middle half▲ 2.2pp-2.6%below the sector's middle half▼ 13.3pp-8.1%below the sector's middle half▼ 5.5pp6.9%within the sector's middle half▲ 15.0pp
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 profit of €11,573, after a loss of €6,041 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 €111,672
Fixed assets
€39,866 ▼ 19.9%
Current assets
€71,806 ▼ 4.6%
Equity and liabilities €111,672
Equity
€47,110 ▲ 19.6%
Debt
€64,562 ▼ 24.6%
Debt's share of the balance-sheet total falls from 68.5% to 57.8%. Equity is higher and debt is lower.
Key figures and ratios
ROE
16.4%▲
2024 · -25.6%
Debt ≤ 1 year
€31,135▼
2024 · €52,162
Debt > 1 year
€30,000=
2024 · €30,000
Income taxes
€151▼
2024 · €175
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 | €52,697 | €12,946 | €4,995 | €8,396 |
| Depreciation and write-downs of the year | €9,575 | €15,316 | €17,181 | €18,290 |
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 | €14,064 | €9,975 | €3,241 | €9,575 | €15,316 | €17,181 | €18,290 | ▲ 6.5% |
| Other operating charges640/8 | - | - | - | €10,413 | €10,541 | €11,221 | €1,007 | ▼ 91.0% |
| Gross operating margin9900 | €17,684 | €4,605 | €22,246 | €46,976 | €25,959 | €22,362 | €30,870 | ▲ 38.0% |
| Operating profit (loss)9901 | €2,281 | -€6,136 | €12,963 | €26,988 | €101 | -€6,041 | €11,573 | - |
| Financial income75/76B | - | - | - | €1 | €5 | €235 | €299 | ▲ 27.5% |
| Recurring financial income75 | - | €1 | €4 | €1 | €5 | €235 | €299 | ▲ 27.5% |
| Financial charges65/66B | - | - | - | €2,020 | €3,523 | €4,102 | €4,015 | ▼ 2.1% |
| Recurring financial charges65 | €3,754 | €1,693 | €1,879 | €2,020 | €3,523 | €4,102 | €4,015 | ▼ 2.1% |
| Profit (loss) for the period before taxes9903 | -€1,473 | -€7,829 | €11,088 | €24,969 | -€3,416 | -€9,909 | €7,858 | - |
| Income taxes67/77 | €248 | €150 | €1,425 | €6,882 | €187 | €175 | €151 | ▼ 13.4% |
| Profit (loss) for the period9904 | -€1,720 | -€7,978 | €9,664 | €18,086 | -€3,603 | -€10,083 | €7,706 | - |
| Profit (loss) for the period to be appropriated9905 | -€1,720 | -€7,978 | €9,664 | €18,086 | -€3,603 | -€10,083 | €7,706 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €117,490 | €101,937 | €113,086 | €168,610 | €140,193 | €125,044 | €111,672 | ▼ 10.7% |
| Fixed assets21/28 | €30,711 | €21,314 | €21,351 | €64,316 | €61,946 | €49,760 | €39,866 | ▼ 19.9% |
| Tangible fixed assets22/27 | €30,686 | €21,289 | €21,351 | €64,316 | €61,946 | €49,760 | €39,866 | ▼ 19.9% |
| Plant, machinery and equipment23 | - | - | - | - | €1,311 | €1,828 | €7,656 | ▲ 319% |
| Furniture and vehicles24 | - | - | - | €47,338 | €43,779 | €33,498 | €20,923 | ▼ 37.5% |
| Other tangible fixed assets26 | - | - | - | €16,978 | €16,856 | €14,434 | €11,287 | ▼ 21.8% |
| Financial fixed assets28 | €25 | €25 | €0 | - | - | - | - | - |
| Current assets29/58 | €86,779 | €80,623 | €91,735 | €104,293 | €78,246 | €75,284 | €71,806 | ▼ 4.6% |
| Amounts receivable within one year40/41 | €9,913 | €4,159 | €726 | €14,315 | €8,362 | €3,153 | €10,243 | ▲ 225% |
| Trade receivables40 | - | - | - | €13,803 | €8,349 | €965 | €9,305 | ▲ 864% |
| Other amounts receivable41 | - | - | - | €512 | €13 | €2,188 | €938 | ▼ 57.1% |
| Cash at bank and in hand54/58 | €75,343 | €71,921 | €87,650 | €87,118 | €64,904 | €68,759 | €59,354 | ▼ 13.7% |
| Deferred charges and accrued income490/1 | - | - | - | €2,860 | €4,981 | €3,372 | €2,208 | ▼ 34.5% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €117,490 | €101,937 | €113,086 | €168,610 | €140,193 | €125,044 | €111,672 | ▼ 10.7% |
| Equity10/15 | €61,686 | €53,708 | €63,372 | €53,090 | €49,487 | €39,404 | €47,110 | ▲ 19.6% |
| Contributions10/11 | €18,600 | €0 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €32,947 | €32,947 | €42,611 | €34,490 | €34,490 | €34,490 | €32,630 | ▼ 5.4% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €0 | - | - |
| Distributable reserves133 | - | - | - | €32,630 | €32,630 | €34,490 | €32,630 | ▼ 5.4% |
| Profit (loss) carried forward14 | €10,139 | €2,161 | €2,161 | €0 | -€3,603 | -€13,686 | -€4,120 | ▲ 69.9% |
| Amounts payable17/49 | €55,804 | €48,229 | €49,714 | €115,519 | €90,706 | €85,640 | €64,562 | ▼ 24.6% |
| Amounts payable after more than one year17 | - | - | - | €30,000 | €30,000 | €30,000 | €30,000 | = |
| Financial debts170/4 | - | - | - | €30,000 | €30,000 | €30,000 | €30,000 | = |
| Amounts payable within one year42/48 | €52,112 | €46,602 | €47,941 | €83,589 | €57,814 | €52,162 | €31,135 | ▼ 40.3% |
| Trade debts44 | €7,014 | €1,482 | €1,035 | €2,106 | €3,717 | €888 | €0 | ▼ 100% |
| Suppliers440/4 | - | - | - | €2,106 | €3,717 | €888 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | - | €4,006 | €1,725 | €2,841 | €2,476 | ▼ 12.8% |
| Taxes450/3 | - | - | - | €4,006 | €1,725 | €2,841 | €2,476 | ▼ 12.8% |
| Other amounts payable47/48 | - | - | - | €77,477 | €52,371 | €48,433 | €28,658 | ▼ 40.8% |
| Accrued charges and deferred income492/3 | - | - | - | €1,931 | €2,892 | €3,478 | €3,427 | ▼ 1.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,720 | -€7,978 | €9,664 | €18,086 | -€3,603 | -€10,083 | €7,706 | - |
| + Depreciation and write-downs630 | €14,064 | €9,975 | €3,241 | €9,575 | €15,316 | €17,181 | €18,290 | ▲ 6.5% |
| Operating cash flow (approximation) | €12,344 | €1,996 | €12,905 | €27,661 | €11,713 | €7,098 | €25,996 | ▲ 266% |
| Investment in fixed assets (approximation) | - | -€578 | -€3,278 | -€52,541 | -€12,946 | -€4,995 | -€8,396 | ▼ 68.1% |
| Change in cash | - | -€3,422 | €15,729 | -€532 | -€22,215 | €3,855 | -€9,404 | - |
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 |
|---|---|---|---|---|
| 30-06-2025 | micro format | 03-11-2025 | 2025-00562712 | |
| 30-06-2024 | micro format | 19-11-2024 | 2024-00601723 | |
| 30-06-2023 | micro format | 25-10-2023 | 2023-00504494 | |
| 30-06-2022 | micro format | 14-12-2022 | 2022-20542905 | |
| 30-06-2021 | micro format | 23-12-2021 | 2021-81700421 | |
| 30-06-2020 | micro format | 21-12-2020 | 2020-76700284 | |
| 30-06-2019 | micro format | 28-01-2020 | 2020-02400316 | |
| 30-06-2018 | micro format | 06-02-2019 | 2019-04600221 | |
| 30-06-2017 | micro format | 31-01-2018 | 2018-04400143 | |
| 30-06-2016 | abbreviated format | 21-12-2016 | 2016-71100572 |