Financials · financial year 2025, abbreviated format
2025 annual accounts filed 69 days after the deadline Filed on 8 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00558950.
Annual accounts 2025 filed on 08-10-2026 at the NBB all 21 filings
Equity
€17.5m▲ 1.8%
2024 · €17.2m
Net result
€319,213▲ 9.8%
2024 · €290,624
Total assets
€18.1m▼ 0.4%
2024 · €18.2m
Solvency
96.4%▲ 2.1pp
2024 · 94.3%
In the rankings
#1 company by total assets in Herk-de-Stad, Finance and insurance sector#1 company by equity in Herk-de-Stad, Finance and insurance sector#10 oldest company in Herk-de-Stad, Finance and insurance sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€172,323
▼ 17.4%
2025
20182025
Net result
€319,213
▲ 9.8%
2025
highest quarter of the sector
20182025
Equity
€17.5m
▲ 1.8%
2025
highest quarter of the sector
20182025
Total assets
€18.1m
▼ 0.4%
2025
highest quarter of the sector
20182025
Debt
€638,362
▼ 37.4%
2025
20182025
Working capital
€10.8m
▲ 15.7%
2025
highest quarter of the sector
20182025
Solvency
96.4%
▲ 2.1pp
2025
highest quarter of the sector
20182025
Current ratio
28.67
▲ 12.83
2025
highest quarter of the sector
20182025
Return on assets (ROA)
1.8%
▲ 0.2pp
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€0.05m-€0.08m▲ 49.3%-€0.007m€0.02m€0.07m▲ 391%€0.3m▲ 261%€0.2m▼ 21.8%€0.2m▼ 17.4%
Net result-€5.7m-€0.6m€0.06mwithin the sector's middle half▼ 90.1%€0.1mwithin the sector's middle half▲ 70.6%€0.2mwithin the sector's middle half▲ 57.3%€0.3mabove the sector's middle half▲ 96.1%€0.3mabove the sector's middle half▼ 2.2%€0.3mabove the sector's middle half▲ 9.8%
Equity€15.7m-€16.3m▲ 3.6%€16.3mabove the sector's middle half▲ 0.3%€16.4mabove the sector's middle half▲ 0.6%€16.6mabove the sector's middle half▲ 0.9%€16.9mabove the sector's middle half▲ 1.8%€17.2mabove the sector's middle half▲ 1.7%€17.5mabove the sector's middle half▲ 1.8%
Total assets€17.0m-€17.8m▲ 5.1%€18.1mabove the sector's middle half▲ 1.6%€18.0mabove the sector's middle half▼ 0.6%€17.9mabove the sector's middle half▼ 0.4%€17.7mabove the sector's middle half▼ 1.0%€18.2mabove the sector's middle half▲ 2.6%€18.1mabove the sector's middle half▼ 0.4%
Debt€1.2m-€1.5m▲ 22.8%€1.8m▲ 15.1%€1.6m▼ 11.9%€1.3m▼ 14.3%€0.9m▼ 35.9%€1.0m▲ 19.5%€0.6m▼ 37.4%
Working capital€7.7m-€9.6m▲ 24.5%€9.6mabove the sector's middle half▼ 0.6%€9.4mabove the sector's middle half▼ 1.4%€9.3mabove the sector's middle half▼ 1.9%€9.4mabove the sector's middle half▲ 1.0%€9.3mabove the sector's middle half▼ 0.4%€10.8mabove the sector's middle half▲ 15.7%
Solvency92.6%-91.4%▼ 1.2pp90.3%above the sector's middle half▼ 1.1pp91.4%above the sector's middle half▲ 1.1pp92.6%above the sector's middle half▲ 1.2pp95.1%above the sector's middle half▲ 2.6pp94.3%above the sector's middle half▼ 0.8pp96.4%above the sector's middle half▲ 2.1pp
Current ratio42.3238.71above the sector's middle half▼ 3.6235.27above the sector's middle half▼ 3.4432.76above the sector's middle half▼ 2.5133.52above the sector's middle half▲ 0.7615.84above the sector's middle half▼ 17.6928.67above the sector's middle half▲ 12.83
Return on assets (ROA)-33.4%-3.2%▲ 36.6pp0.3%within the sector's middle half▼ 2.9pp0.5%within the sector's middle half▲ 0.2pp0.8%within the sector's middle half▲ 0.3pp1.7%within the sector's middle half▲ 0.8pp1.6%within the sector's middle half▼ 0.1pp1.8%within the sector's middle half▲ 0.2pp
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 17% lower than in 2024. It is the second fall in a row.
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
Assets €18.1m
Fixed assets
€7.0m ▼ 15.6%
Current assets
€11.2m ▲ 12.3%
Equity and liabilities €18.1m
Equity
€17.5m ▲ 1.8%
Provisions
€9,324 ▼ 3.3%
Debt
€638,362 ▼ 37.4%
Debt's share of the balance-sheet total falls from 5.6% to 3.5%. Equity is higher and debt is lower.
Key figures and ratios
ROE
1.8%▲
2024 · 1.7%
Debt ≤ 1 year
€389,614▼
2024 · €627,822
Debt > 1 year
€246,828▼
2024 · €385,822
Income taxes
€119,574=
2024 · €119,627
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 | €258,211 | €342,914 | €197,526 | €36,553 | €86,915 |
| Financial fixed assets | - | - | - | €326,441 | - |
| Depreciation and write-downs of the year | €236,191 | €245,896 | €232,170 | €206,726 | €200,267 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0.04m | - | €0.04m | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.3m | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 3.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | - | €0.04m | - | - |
| Other operating charges640/8 | - | - | - | €0.06m | €0.04m | €0.04m | €0.05m | €0.06m | ▲ 19.5% |
| Non-recurring operating charges66A | - | - | - | €0.02m | - | - | - | - | - |
| Gross operating margin9900 | €0.4m | €0.4m | €0.3m | €0.3m | €0.4m | €0.5m | €0.5m | €0.4m | ▼ 14.2% |
| Operating profit (loss)9901 | €0.05m | €0.08m | -€0.007m | €0.02m | €0.07m | €0.3m | €0.2m | €0.2m | ▼ 17.4% |
| Financial income75/76B | - | - | - | €0.2m | €0.2m | €0.3m | €0.3m | €0.5m | ▲ 57.2% |
| Recurring financial income75 | €3.2m | €0.7m | €0.2m | €0.2m | €0.2m | €0.3m | €0.3m | €0.5m | ▲ 57.2% |
| Financial charges65/66B | - | - | - | €0.09m | €0.1m | €0.1m | €0.1m | €0.3m | ▲ 95.3% |
| Recurring financial charges65 | €0.1m | €0.1m | €0.2m | €0.09m | €0.1m | €0.1m | €0.1m | €0.3m | ▲ 95.3% |
| Profit (loss) for the period before taxes9903 | -€5.6m | €0.6m | €0.06m | €0.1m | €0.2m | €0.4m | €0.4m | €0.4m | ▲ 7.0% |
| Transfer from deferred taxes780 | - | - | - | - | - | €372 | €372 | €315 | ▼ 15.5% |
| Transfer to deferred taxes680 | - | - | - | - | - | €0.01m | - | - | - |
| Income taxes67/77 | €0.07m | €0.05m | - | €0.03m | €0.06m | €0.09m | €0.1m | €0.1m | = |
| Profit (loss) for the period9904 | -€5.7m | €0.6m | €0.06m | €0.1m | €0.2m | €0.3m | €0.3m | €0.3m | ▲ 9.8% |
| Transfer from tax-exempt reserves789 | - | - | - | - | - | €0.001m | €0.001m | €0.001m | ▼ 15.5% |
| Transfer to tax-exempt reserves689 | - | - | - | - | - | €0.03m | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€5.7m | €0.6m | €0.06m | €0.1m | €0.2m | €0.3m | €0.3m | €0.3m | ▲ 9.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €17.0m | €17.8m | €18.1m | €18.0m | €17.9m | €17.7m | €18.2m | €18.1m | ▼ 0.4% |
| Fixed assets21/28 | €9.1m | €7.9m | €8.3m | €8.3m | €8.4m | €8.1m | €8.3m | €7.0m | ▼ 15.6% |
| Tangible fixed assets22/27 | €3.5m | €3.6m | €3.9m | €3.9m | €4.0m | €3.7m | €3.6m | €3.5m | ▼ 3.2% |
| Land and buildings22 | - | - | - | €3.8m | €3.9m | €3.6m | €3.5m | €3.3m | ▼ 4.8% |
| Plant, machinery and equipment23 | - | - | - | - | €0.01m | €0.01m | €0.02m | €0.01m | ▼ 12.5% |
| Furniture and vehicles24 | - | - | - | €0.1m | €0.1m | €0.09m | €0.08m | €0.1m | ▲ 69.1% |
| Other tangible fixed assets26 | - | - | - | €0.01m | €0.01m | €0.01m | €0.008m | €0.007m | ▼ 14.4% |
| Financial fixed assets28 | €5.7m | €4.4m | €4.4m | €4.4m | €4.4m | €4.4m | €4.7m | €3.5m | ▼ 25.1% |
| Current assets29/58 | €7.8m | €9.9m | €9.8m | €9.7m | €9.6m | €9.6m | €9.9m | €11.2m | ▲ 12.3% |
| Amounts receivable after more than one year29 | - | - | - | €0.2m | - | - | - | - | - |
| Other amounts receivable291 | - | - | - | €0.2m | - | - | - | - | - |
| Amounts receivable within one year40/41 | €0.2m | €0.3m | €0.3m | €0.3m | €0.2m | €0.2m | €0.2m | €1.1m | ▲ 374% |
| Trade receivables40 | - | - | - | €0.1m | €0.1m | €0.2m | €0.2m | €0.3m | ▲ 30.9% |
| Other amounts receivable41 | - | - | - | €0.2m | €0.03m | €0.02m | €0.03m | €0.8m | ▲ 29× |
| Current investments50/53 | €6.3m | €5.6m | €5.1m | €7.3m | €7.4m | €8.4m | €8.9m | €8.8m | ▼ 1.6% |
| Cash at bank and in hand54/58 | €1.1m | €3.6m | €4.1m | €1.8m | €1.9m | €1.0m | €0.8m | €1.3m | ▲ 63.1% |
| Deferred charges and accrued income490/1 | - | - | - | €0.04m | €0.04m | €0.04m | €287 | €0.002m | ▲ 706% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €17.0m | €17.8m | €18.1m | €18.0m | €17.9m | €17.7m | €18.2m | €18.1m | ▼ 0.4% |
| Equity10/15 | €15.7m | €16.3m | €16.3m | €16.4m | €16.6m | €16.9m | €17.2m | €17.5m | ▲ 1.8% |
| Contributions10/11 | €13.2m | €13.2m | - | €13.2m | €13.2m | €13.2m | €13.2m | €13.2m | = |
| Reserves13 | €2.5m | €3.1m | €3.1m | €3.2m | €3.4m | €3.7m | €4.0m | €4.3m | ▲ 7.9% |
| Non-distributable reserves130/1 | - | - | - | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Reserves not available under the articles1311 | - | - | - | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Tax-exempt reserves132 | - | - | - | €0.001m | €0.001m | €0.03m | €0.03m | €0.03m | ▼ 3.1% |
| Distributable reserves133 | - | - | - | €1.9m | €2.1m | €2.3m | €2.6m | €2.9m | ▲ 12.0% |
| Provisions and deferred taxes16 | - | - | - | - | - | €0.01m | €0.01m | €0.009m | ▼ 3.3% |
| Deferred taxes168 | - | - | - | - | - | €0.01m | €0.01m | €0.009m | ▼ 3.3% |
| Amounts payable17/49 | €1.2m | €1.5m | €1.8m | €1.6m | €1.3m | €0.9m | €1.0m | €0.6m | ▼ 37.4% |
| Amounts payable after more than one year17 | €1.2m | €1.3m | €1.5m | €1.3m | €1.0m | €0.6m | €0.4m | €0.2m | ▼ 36.0% |
| Financial debts170/4 | - | - | - | €1.3m | €1.0m | €0.6m | €0.4m | €0.2m | ▼ 36.0% |
| Amounts payable within one year42/48 | €0.08m | €0.2m | €0.3m | €0.3m | €0.3m | €0.3m | €0.6m | €0.4m | ▼ 37.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | ▼ 22.2% |
| Trade debts44 | €0.004m | €0.009m | €0.004m | €0.01m | €0.01m | €0.03m | €0.02m | €0.08m | ▲ 281% |
| Suppliers440/4 | - | - | - | €0.01m | €0.01m | €0.03m | €0.02m | €0.08m | ▲ 281% |
| Advances received on contracts in progress46 | - | - | - | €0.02m | €0.01m | €0.008m | €0.02m | €0.04m | ▲ 143% |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0.03m | €0.07m | €0.07m | €0.1m | ▲ 52.7% |
| Taxes450/3 | - | - | - | €0.01m | €0.03m | €0.07m | €0.07m | €0.1m | ▲ 52.7% |
| Other amounts payable47/48 | - | - | - | €0.002m | €0.003m | €0.007m | €0.3m | €0.01m | ▼ 96.7% |
| Accrued charges and deferred income492/3 | - | - | - | €0.001m | - | - | €0.006m | €0.002m | ▼ 66.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5.7m | €0.6m | €0.06m | €0.1m | €0.2m | €0.3m | €0.3m | €0.3m | ▲ 9.8% |
| + Depreciation and write-downs630 | €0.3m | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 3.1% |
| Operating cash flow (approximation) | -€5.4m | €0.9m | €0.3m | €0.3m | €0.4m | €0.5m | €0.5m | €0.5m | ▲ 4.4% |
| Investment in fixed assets (approximation) | - | €0.9m | -€0.6m | -€0.2m | -€0.3m | €0.03m | -€0.4m | €1.1m | - |
| Change in cash | - | €2.5m | €0.5m | -€2.3m | €0.07m | -€0.9m | -€0.2m | €0.5m | - |
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 21 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 08-10-2026 | 2026-00558950 | |
| 31-12-2024 | abbreviated format | 30-09-2025 | 2025-00535611 | |
| 31-12-2023 | abbreviated format | 31-08-2024 | 2024-00446607 | |
| 31-12-2022 | abbreviated format | 01-09-2023 | 2023-00410884 | |
| 31-12-2021 | abbreviated format | 31-08-2022 | 2022-20417048 | |
| 31-12-2020 | abbreviated format | 30-06-2021 | 2021-28100129 | |
| 31-12-2019 | abbreviated format | 10-09-2020 | 2020-52000529 | |
| 31-12-2018 | abbreviated format | 29-08-2019 | 2019-53600220 | |
| 31-12-2017 | abbreviated format | 31-07-2018 | 2018-41900266 | |
| 31-12-2016 | abbreviated format | 31-07-2017 | 2017-40100072 |