Financials · financial year 2025, abbreviated format
2025 annual accounts filed 26 days after the deadline Filed on 26 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00437778.
Annual accounts 2025 filed on 26-08-2026 at the NBB all 6 filings
Amounts without an identifiable currency are taken as euros.
Equity
€447,099▲ 9.6%
2024 · €407,907
Net result
€39,192▲ 298%
2024 · €9,856
Total assets
€559,009▲ 11.3%
2024 · €502,125
Solvency
80.0%▼ 1.3pp
2024 · 81.2%
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
€54,124
▲ 285%
2025
20202025
Net result
€39,192
▲ 298%
2025
middle half of the sector
20202025
Equity
€447,099
▲ 9.6%
2025
middle half of the sector
20202025
Total assets
€559,009
▲ 11.3%
2025
lowest quarter of the sector
20202025
Debt
€111,910
▲ 18.8%
2025
20202025
Working capital
€447,099
▲ 9.6%
2025
highest quarter of the sector
20202025
Solvency
80.0%
▼ 1.3pp
2025
highest quarter of the sector
20202025
Current ratio
5.00
▼ 0.33
2025
highest quarter of the sector
20202025
Return on assets (ROA)
7.0%
▲ 5.0pp
2025
middle half of the sector
20202025
Staff (FTE)
0
2025
middle half of the sector
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€28,175-€321,272▲ 11×€4,960▼ 98.5%€178,069▲ 36×€14,051▼ 92.1%€54,124▲ 285%
Net result€28,105within the sector's middle half-€233,584above the sector's middle half▲ 731%€3,304below the sector's middle half▼ 98.6%€130,058within the sector's middle half▲ 39×€9,856within the sector's middle half▼ 92.4%€39,192within the sector's middle half▲ 298%
Equity€31,105below the sector's middle half-€264,689within the sector's middle half▲ 751%€267,993within the sector's middle half▲ 1.2%€398,051within the sector's middle half▲ 48.5%€407,907within the sector's middle half▲ 2.5%€447,099within the sector's middle half▲ 9.6%
Total assets€31,743below the sector's middle half-€413,291below the sector's middle half▲ 13×€284,063below the sector's middle half▼ 31.3%€505,428below the sector's middle half▲ 77.9%€502,125below the sector's middle half▼ 0.7%€559,009below the sector's middle half▲ 11.3%
Debt€638-€148,602▲ 233×€16,069▼ 89.2%€107,377▲ 568%€94,218▼ 12.3%€111,910▲ 18.8%
Working capital€31,105within the sector's middle half-€264,689within the sector's middle half▲ 751%€267,993within the sector's middle half▲ 1.2%€398,051above the sector's middle half▲ 48.5%€407,907above the sector's middle half▲ 2.5%€447,099above the sector's middle half▲ 9.6%
Solvency98.0%above the sector's middle half-64.0%within the sector's middle half▼ 33.9pp94.3%above the sector's middle half▲ 30.3pp78.8%above the sector's middle half▼ 15.6pp81.2%above the sector's middle half▲ 2.5pp80.0%above the sector's middle half▼ 1.3pp
Current ratio49.72above the sector's middle half-2.78within the sector's middle half▼ 46.9417.68above the sector's middle half▲ 14.904.71above the sector's middle half▼ 12.975.33above the sector's middle half▲ 0.625.00above the sector's middle half▼ 0.33
Return on assets (ROA)88.5%above the sector's middle half-56.5%above the sector's middle half▼ 32.0pp1.2%within the sector's middle half▼ 55.4pp25.7%above the sector's middle half▲ 24.6pp2.0%within the sector's middle half▼ 23.8pp7.0%within the sector's middle half▲ 5.0pp
Staff (FTE)0within the sector's middle half0within the sector's middle half0within 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 nearly 3.9 times that of 2024. It is a recovery after the fall in 2024.
Turnover and EBIT margin are not published. The abbreviated 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
Equity and liabilities €559,009
Equity
€447,099 ▲ 9.6%
Debt
€111,910 ▲ 18.8%
Debt's share of the balance-sheet total rises from 18.8% to 20.0%. Equity and debt are higher.
Key figures and ratios
ROE
8.8%▲
2024 · 2.4%
Debt ≤ 1 year
€111,910▲
2024 · €94,218
Income taxes
€14,267▲
2024 · €3,700
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 |
|---|---|---|---|---|---|
| Financial fixed assets | - | - | - | - | €0 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0 | - | - | - | - | - | - |
| Other operating charges640/8 | - | €410 | €410 | €384 | €449 | €524 | ▲ 16.6% |
| Gross operating margin9900 | €28,932 | €321,682 | €5,370 | €178,454 | €14,500 | €54,648 | ▲ 277% |
| Operating profit (loss)9901 | €28,175 | €321,272 | €4,960 | €178,069 | €14,051 | €54,124 | ▲ 285% |
| Financial income75/76B | - | - | - | €0 | €0 | - | - |
| Recurring financial income75 | €0 | - | - | €0 | €0 | - | - |
| Financial charges65/66B | - | €55 | €453 | €512 | €495 | €665 | ▲ 34.5% |
| Recurring financial charges65 | €71 | €55 | €453 | €512 | €495 | €665 | ▲ 34.5% |
| Profit (loss) for the period before taxes9903 | €28,105 | €321,217 | €4,508 | €177,558 | €13,556 | €53,459 | ▲ 294% |
| Income taxes67/77 | €0 | €87,633 | €1,203 | €47,500 | €3,700 | €14,267 | ▲ 286% |
| Profit (loss) for the period9904 | €28,105 | €233,584 | €3,304 | €130,058 | €9,856 | €39,192 | ▲ 298% |
| Profit (loss) for the period to be appropriated9905 | €28,105 | €233,584 | €3,304 | €130,058 | €9,856 | €39,192 | ▲ 298% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €31,743 | €413,291 | €284,063 | €505,428 | €502,125 | €559,009 | ▲ 11.3% |
| Formation expenses20 | €0 | - | - | - | - | - | - |
| Intangible fixed assets21 | €0 | - | - | - | - | - | - |
| Financial fixed assets28 | €0 | - | - | - | - | - | - |
| Current assets29/58 | €31,743 | €413,291 | €284,063 | €505,428 | €502,125 | €559,009 | ▲ 11.3% |
| Stocks and contracts in progress3 | €0 | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €29,303 | €322,183 | €283,949 | €504,703 | €501,813 | €530,855 | ▲ 5.8% |
| Trade receivables40 | - | €287,783 | €143,563 | €367,503 | €385,653 | €360,245 | ▼ 6.6% |
| Other amounts receivable41 | - | €34,400 | €140,387 | €137,200 | €116,160 | €170,610 | ▲ 46.9% |
| Current investments50/53 | €0 | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €2,441 | €91,108 | €114 | €726 | €312 | €28,154 | ▲ 90× |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €31,743 | €413,291 | €284,063 | €505,428 | €502,125 | €559,009 | ▲ 11.3% |
| Equity10/15 | €31,105 | €264,689 | €267,993 | €398,051 | €407,907 | €447,099 | ▲ 9.6% |
| Contributions10/11 | - | €3,000 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Reserves13 | - | €261,689 | €264,993 | €395,051 | €404,907 | €444,099 | ▲ 9.7% |
| Distributable reserves133 | - | €261,689 | €264,993 | €395,051 | €404,907 | €444,099 | ▲ 9.7% |
| Profit (loss) carried forward14 | €28,105 | - | - | - | - | - | - |
| Amounts payable17/49 | €638 | €148,602 | €16,069 | €107,377 | €94,218 | €111,910 | ▲ 18.8% |
| Amounts payable within one year42/48 | €638 | €148,602 | €16,069 | €107,377 | €94,218 | €111,910 | ▲ 18.8% |
| Financial debts43 | - | €85,000 | - | - | - | - | - |
| Credit institutions430/8 | - | €85,000 | - | - | - | - | - |
| Trade debts44 | €638 | €445 | €690 | €0 | €421 | €0 | ▼ 100% |
| Suppliers440/4 | - | €445 | €690 | €0 | €421 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | €62,580 | €1,203 | €55,817 | €54,277 | €19,891 | ▼ 63.4% |
| Taxes450/3 | - | €62,580 | €1,203 | €55,817 | €54,277 | €19,891 | ▼ 63.4% |
| Other amounts payable47/48 | - | €576 | €14,176 | €51,560 | €39,520 | €92,020 | ▲ 133% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €28,105 | €233,584 | €3,304 | €130,058 | €9,856 | €39,192 | ▲ 298% |
| + Depreciation and write-downs630 | €0 | - | - | - | - | - | - |
| Operating cash flow (approximation) | €28,105 | €233,584 | €3,304 | €130,058 | €9,856 | €39,192 | ▲ 298% |
| Change in cash | - | €88,667 | -€90,994 | €612 | -€413 | €27,842 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 26-08-2026 | 2026-00437778 | |
| 31-12-2024 | abbreviated format | 26-06-2025 | 2025-00189357 | |
| 31-12-2023 | abbreviated format | 30-08-2024 | 2024-00433220 | |
| 31-12-2022 | abbreviated format | 31-08-2023 | 2023-00419768 | |
| 31-12-2021 | abbreviated format | 30-08-2022 | 2022-20397145 | |
| 31-12-2020 | abbreviated format | 29-08-2021 | 2021-57000188 |