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
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is 17% lower than in 2024. It is the second fall in a row.
Operating result€0.2m
2025
Net result€0.3m
2025
Total assets€18.1m
2025
Equity€17.5m
2025
Debt€0.6m
2025
Working capital€10.8m
2025
Return on assets (ROA)1.8%
2025
Solvency96.4%
2025
Current ratio28.67
2025
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
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.
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.
Comparable companies
These companies have the same main activity as CINECON: activities of holding companies (NACE 64210). They are comparable in size and age: total assets between €14m and €20m, founded between 2001 and 2005.
| Company | Founded | Total assets | Equity | Gross margin | Net result | FTE | Financial year |
|---|---|---|---|---|---|---|---|
| CINECON Herk-de-Stad | 2004 | €18.1m | €17.5m | €0.4m | €0.3m | - | 2025 |
| ASB PROJECTS Poperinge | 2005 | €19.6m | €18.8m | €0.4m | €0.6m | 0 | 2026 |
| SEQUOIA HOLDING Kortrijk | 2003 | €18.7m | €1.5m | €0.4m | -€0.01m | - | 2025 |
| WIZCO Beveren-Kruibeke-Zwijndrecht | 2005 | €15.6m | €15.4m | €0.5m | €0.5m | 2.9 | 2025 |
| F.T.S. INVESTMENTS Wevelgem | 2003 | €13.7m | €10.5m | €0.4m | €0.1m | 0 | 2025 |
| HIRO Aarschot | 2005 | €14.8m | €13.2m | €0.4m | €0.06m | - | 2025 |
| IMMAG LEVA Tongeren-Borgloon | 2001 | €14.6m | €9.1m | €0.5m | €0.06m | 2 | 2025 |
They were chosen from the 20,097 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
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 | NBB |
| 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 |