Financials · financial year 2025, micro format
Annual accounts 2025 filed on 08-05-2026 PDF all 19 filings
Equity
€62,174▼ 51.5%
2024 · €128,324
Net result
€24,072
2024 · -€18,036
Total assets
€111,146▼ 28.8%
2024 · €155,996
Solvency
55.9%▼ 26.3pp
2024 · 82.3%
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€48,639
2025
20182025
Net result
€24,072
2025
middle half of the sector
20182025
Equity
€62,174
▼ 51.5%
2025
middle half of the sector
20182025
Total assets
€111,146
▼ 28.8%
2025
lowest quarter of the sector
20182025
Debt
€48,972
▲ 77.0%
2025
20182025
Working capital
€56,826
▼ 52.9%
2025
middle half of the sector
20182025
Solvency
55.9%
▼ 26.3pp
2025
middle half of the sector
20182025
Current ratio
2.16
▼ 3.20
2025
middle half of the sector
20182025
Return on assets (ROA)
21.7%
▲ 33.2pp
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€54,524-€30,687▼ 43.7%€82,479▲ 169%€37,241▼ 54.8%-€6,553€64,501-€11,592€48,639
Net result€34,777-€13,546▼ 61.0%€49,754within the sector's middle half▲ 267%€18,111within the sector's middle half▼ 63.6%-€2,409below the sector's middle half€39,409within the sector's middle half-€18,036below the sector's middle half€24,072within the sector's middle half
Equity€77,949-€91,495▲ 17.4%€141,250within the sector's middle half▲ 54.4%€159,360within the sector's middle half▲ 12.8%€156,952within the sector's middle half▼ 1.5%€146,360within the sector's middle half▼ 6.7%€128,324within the sector's middle half▼ 12.3%€62,174within the sector's middle half▼ 51.5%
Total assets€163,683-€183,948▲ 12.4%€243,389within the sector's middle half▲ 32.3%€271,983within the sector's middle half▲ 11.7%€258,344within the sector's middle half▼ 5.0%€178,355within the sector's middle half▼ 31.0%€155,996within the sector's middle half▼ 12.5%€111,146below the sector's middle half▼ 28.8%
Debt€85,734-€92,452▲ 7.8%€102,139▲ 10.5%€112,623▲ 10.3%€101,392▼ 10.0%€31,995▼ 68.4%€27,671▼ 13.5%€48,972▲ 77.0%
Working capital€138,766-€154,131▲ 11.1%€205,456above the sector's middle half▲ 33.3%€225,137above the sector's middle half▲ 9.6%€224,299above the sector's middle half▼ 0.4%€140,278within the sector's middle half▼ 37.5%€120,666within the sector's middle half▼ 14.0%€56,826within the sector's middle half▼ 52.9%
Solvency47.6%-49.7%▲ 2.1pp58.0%within the sector's middle half▲ 8.3pp58.6%within the sector's middle half▲ 0.6pp60.8%within the sector's middle half▲ 2.2pp82.1%above the sector's middle half▲ 21.3pp82.3%above the sector's middle half▲ 0.2pp55.9%within the sector's middle half▼ 26.3pp
Current ratio13.93-9.83▼ 4.108.57above the sector's middle half▼ 1.266.98above the sector's middle half▼ 1.599.50above the sector's middle half▲ 2.515.38above the sector's middle half▼ 4.115.36above the sector's middle half▼ 0.022.16within the sector's middle half▼ 3.20
Return on assets (ROA)21.2%-7.4%▼ 13.9pp20.4%above the sector's middle half▲ 13.1pp6.7%within the sector's middle half▼ 13.8pp-0.9%below the sector's middle half▼ 7.6pp22.1%within the sector's middle half▲ 23.0pp-11.6%below the sector's middle half▼ 33.7pp21.7%within the sector's middle half▲ 33.2pp
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 a profit of €48,639, after a loss of €11,592 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 €111,146
Fixed assets
€5,348 ▼ 30.2%
Current assets
€105,798 ▼ 28.7%
Equity and liabilities €111,146
Equity
€62,174 ▼ 51.5%
Debt
€48,972 ▲ 77.0%
Debt's share of the balance-sheet total rises from 17.7% to 44.1%. Equity is lower and debt is higher.
Key figures and ratios
ROE
38.7%▲
2024 · -14.1%
Debt ≤ 1 year
€48,972▲
2024 · €27,671
Income taxes
€21,054▲
2024 · €5,930
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 | - | - | - | €3,217 | - |
| Depreciation and write-downs of the year | €1,571 | €1,571 | €1,571 | €1,640 | €2,311 |
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 | €2,656 | €1,819 | €1,571 | €1,571 | €1,571 | €1,571 | €1,640 | €2,311 | ▲ 40.9% |
| Other operating charges640/8 | - | - | - | €553 | €594 | €557 | €594 | €15,855 | ▲ 27× |
| Gross operating margin9900 | €57,676 | €33,013 | €84,606 | €39,365 | -€4,388 | €66,629 | -€9,357 | €66,806 | - |
| Operating profit (loss)9901 | €54,524 | €30,687 | €82,479 | €37,241 | -€6,553 | €64,501 | -€11,592 | €48,639 | - |
| Financial income75/76B | - | - | - | - | - | €3 | €59 | €3 | ▼ 95.0% |
| Recurring financial income75 | - | - | - | - | - | €3 | €59 | €3 | ▼ 95.0% |
| Financial charges65/66B | - | - | - | €2,756 | €2,920 | €2,960 | €573 | €3,517 | ▲ 514% |
| Recurring financial charges65 | €2,811 | €2,792 | €2,787 | €2,756 | €2,920 | €2,960 | €573 | €3,517 | ▲ 514% |
| Profit (loss) for the period before taxes9903 | €51,714 | €27,895 | €79,691 | €34,485 | -€9,473 | €61,544 | -€12,106 | €45,125 | - |
| Income taxes67/77 | €16,937 | €14,349 | €29,937 | €16,374 | -€7,064 | €22,136 | €5,930 | €21,054 | ▲ 255% |
| Profit (loss) for the period9904 | €34,777 | €13,546 | €49,754 | €18,111 | -€2,409 | €39,409 | -€18,036 | €24,072 | - |
| Transfer from tax-exempt reserves789 | - | - | - | €5,770 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €34,777 | €13,546 | €49,754 | €23,881 | -€2,409 | €39,409 | -€18,036 | €24,072 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €163,683 | €183,948 | €243,389 | €271,983 | €258,344 | €178,355 | €155,996 | €111,146 | ▼ 28.8% |
| Fixed assets21/28 | €14,184 | €12,365 | €10,794 | €9,224 | €7,653 | €6,082 | €7,659 | €5,348 | ▼ 30.2% |
| Tangible fixed assets22/27 | €12,684 | €10,865 | €9,294 | €7,724 | €6,153 | €4,582 | €6,159 | €3,848 | ▼ 37.5% |
| Plant, machinery and equipment23 | - | - | - | - | - | - | €3,148 | €2,342 | ▼ 25.6% |
| Furniture and vehicles24 | - | - | - | €195 | €130 | €65 | - | - | - |
| Other tangible fixed assets26 | - | - | - | €7,529 | €6,023 | €4,517 | €3,011 | €1,506 | ▼ 50.0% |
| Financial fixed assets28 | €1,500 | €1,500 | €1,500 | €1,500 | €1,500 | €1,500 | €1,500 | €1,500 | = |
| Current assets29/58 | €149,500 | €171,583 | €232,595 | €262,759 | €250,691 | €172,273 | €148,337 | €105,798 | ▼ 28.7% |
| Amounts receivable within one year40/41 | €69,219 | €77,138 | €108,664 | €70,048 | €73,326 | €87,512 | €107,173 | €83,193 | ▼ 22.4% |
| Trade receivables40 | - | - | - | €70,029 | €73,326 | €87,512 | €106,889 | €82,910 | ▼ 22.4% |
| Other amounts receivable41 | - | - | - | €19 | - | - | €284 | €284 | = |
| Cash at bank and in hand54/58 | €80,281 | €94,445 | €123,931 | €192,711 | €177,365 | €84,761 | €41,164 | €21,136 | ▼ 48.7% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | - | €1,469 | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €163,683 | €183,948 | €243,389 | €271,983 | €258,344 | €178,355 | €155,996 | €111,146 | ▼ 28.8% |
| Equity10/15 | €77,949 | €91,495 | €141,250 | €159,360 | €156,952 | €146,360 | €128,324 | €62,174 | ▼ 51.5% |
| Contributions10/11 | €25,000 | €25,000 | €25,000 | €25,000 | €25,000 | - | - | - | - |
| Reserves13 | €52,949 | €66,495 | €116,250 | €134,360 | €131,952 | €146,360 | €129,631 | €62,174 | ▼ 52.0% |
| Non-distributable reserves130/1 | - | - | - | €2,500 | €2,500 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €2,500 | €2,500 | - | - | - | - |
| Distributable reserves133 | - | - | - | €131,860 | €129,452 | €146,360 | €129,631 | €62,174 | ▼ 52.0% |
| Profit (loss) carried forward14 | - | - | - | - | - | - | -€1,307 | - | - |
| Amounts payable17/49 | €85,734 | €92,452 | €102,139 | €112,623 | €101,392 | €31,995 | €27,671 | €48,972 | ▲ 77.0% |
| Amounts payable after more than one year17 | €75,000 | €75,000 | €75,000 | €75,000 | €75,000 | - | - | - | - |
| Financial debts170/4 | - | - | - | €75,000 | €75,000 | - | - | - | - |
| Amounts payable within one year42/48 | €10,734 | €17,452 | €27,139 | €37,623 | €26,392 | €31,995 | €27,671 | €48,972 | ▲ 77.0% |
| Trade debts44 | €747 | €1,258 | - | €4,445 | - | €3,663 | €103 | €9,501 | ▲ 92× |
| Suppliers440/4 | - | - | - | €4,445 | - | €3,663 | €103 | €9,501 | ▲ 92× |
| Taxes, remuneration and social security45 | - | - | - | €23,153 | €16,908 | €22,321 | €18,409 | €29,074 | ▲ 57.9% |
| Taxes450/3 | - | - | - | €23,153 | €16,908 | €22,321 | €18,409 | €29,074 | ▲ 57.9% |
| Other amounts payable47/48 | - | - | - | €10,024 | €9,484 | €6,011 | €9,159 | €10,397 | ▲ 13.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €34,777 | €13,546 | €49,754 | €18,111 | -€2,409 | €39,409 | -€18,036 | €24,072 | - |
| + Depreciation and write-downs630 | €2,656 | €1,819 | €1,571 | €1,571 | €1,571 | €1,571 | €1,640 | €2,311 | ▲ 40.9% |
| Operating cash flow (approximation) | €37,432 | €15,365 | €51,325 | €19,681 | -€838 | €40,979 | -€16,395 | €26,383 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | -€3,217 | €0 | - |
| Change in cash | - | €14,164 | €29,486 | €68,780 | -€15,346 | -€92,604 | -€43,597 | -€20,029 | ▲ 54.1% |
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 19 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 08-05-2026 | 2026-00109533 | |
| 31-12-2024 | micro format | 12-08-2025 | 2025-00372061 | |
| 31-12-2023 | micro format | 25-07-2024 | 2024-00293502 | |
| 31-12-2022 | micro format | 05-06-2023 | 2023-00107201 | |
| 31-12-2021 | micro format | 06-07-2022 | 2022-20153723 | |
| 31-12-2020 | micro format | 24-06-2021 | 2021-23900076 | |
| 31-12-2019 | micro format | 23-06-2020 | 2020-19800097 | |
| 31-12-2018 | micro format | 06-08-2019 | 2019-45200257 | |
| 31-12-2017 | micro format | 13-08-2018 | 2018-45400538 | |
| 31-12-2016 | abbreviated format | 19-07-2017 | 2017-32900442 |