Financials · financial year 2025, micro format
Annual accounts 2025 filed on 16-04-2026 PDF all 24 filings
Equity
€701,155▲ 17.0%
2024 · €599,159
Net result
€101,996
2024 · -€62,444
Total assets
€829,767▲ 10.1%
2024 · €753,699
Solvency
84.5%▲ 5.0pp
2024 · 79.5%
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€120,562
2025
20182025
Net result
€101,996
2025
highest quarter of the sector
20182025
Equity
€701,155
▲ 17.0%
2025
highest quarter of the sector
20182025
Total assets
€829,767
▲ 10.1%
2025
middle half of the sector
20182025
Debt
€107,946
▼ 18.9%
2025
20182025
Working capital
€459,133
▲ 31.0%
2025
highest quarter of the sector
20182025
Solvency
84.5%
▲ 5.0pp
2025
highest quarter of the sector
20182025
Current ratio
5.25
▲ 1.62
2025
highest quarter of the sector
20182025
Return on assets (ROA)
12.3%
▲ 20.6pp
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€24,146-€24,559▲ 1.7%€36,507▲ 48.6%€26,443▼ 27.6%€184,272▲ 597%€677,446▲ 268%-€60,789€120,562
Net result€8,116-€9,082▲ 11.9%€17,915within the sector's middle half▲ 97.3%€10,500within the sector's middle half▼ 41.4%€120,068above the sector's middle half▲ 11×€428,271above the sector's middle half▲ 257%-€62,444below the sector's middle half€101,996above the sector's middle half
Equity€140,871-€149,953▲ 6.4%€167,868within the sector's middle half▲ 11.9%€178,368within the sector's middle half▲ 6.3%€240,822within the sector's middle half▲ 35.0%€661,603above the sector's middle half▲ 175%€599,159above the sector's middle half▼ 9.4%€701,155above the sector's middle half▲ 17.0%
Total assets€330,976-€320,604▼ 3.1%€293,285within the sector's middle half▼ 8.5%€530,889within the sector's middle half▲ 81.0%€966,794above the sector's middle half▲ 82.1%€958,324above the sector's middle half▼ 0.9%€753,699within the sector's middle half▼ 21.4%€829,767within the sector's middle half▲ 10.1%
Debt€190,104-€170,651▼ 10.2%€125,417▼ 26.5%€352,521▲ 181%€702,913▲ 99.4%€274,460▼ 61.0%€133,077▼ 51.5%€107,946▼ 18.9%
Working capital-€53,381--€62,009▼ 16.2%-€97,709below the sector's middle half▼ 57.6%-€238,159below the sector's middle half▼ 144%-€100,190below the sector's middle half▲ 57.9%€403,735above the sector's middle half€350,487above the sector's middle half▼ 13.2%€459,133above the sector's middle half▲ 31.0%
Solvency42.6%-46.8%▲ 4.2pp57.2%within the sector's middle half▲ 10.5pp33.6%within the sector's middle half▼ 23.6pp24.9%within the sector's middle half▼ 8.7pp69.0%within the sector's middle half▲ 44.1pp79.5%above the sector's middle half▲ 10.5pp84.5%above the sector's middle half▲ 5.0pp
Current ratio0.35-0.37▲ 0.020.22below the sector's middle half▼ 0.150.32below the sector's middle half▲ 0.100.86within the sector's middle half▲ 0.532.47within the sector's middle half▲ 1.613.63within the sector's middle half▲ 1.165.25above the sector's middle half▲ 1.62
Return on assets (ROA)2.5%-2.8%▲ 0.4pp6.1%within the sector's middle half▲ 3.3pp2.0%within the sector's middle half▼ 4.1pp12.4%within the sector's middle half▲ 10.4pp44.7%above the sector's middle half▲ 32.3pp-8.3%below the sector's middle half▼ 53.0pp12.3%within the sector's middle half▲ 20.6pp
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 €120,562, after a loss of €60,789 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 €829,767
Fixed assets
€262,688 ▼ 2.8%
Current assets
€567,078 ▲ 17.3%
Equity and liabilities €829,767
Equity
€701,155 ▲ 17.0%
Provisions
€20,666 ▼ 3.7%
Debt
€107,946 ▼ 18.9%
Debt's share of the balance-sheet total falls from 17.7% to 13.0%. Equity is higher and debt is lower.
Key figures and ratios
ROE
14.5%▲
2024 · -10.4%
Debt ≤ 1 year
€107,946▼
2024 · €133,077
Income taxes
€19,009▲
2024 · -€1,633
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €82,811 | €35,728 | - | €622 |
| Financial fixed assets | - | - | - | €0 |
| Depreciation and write-downs of the year | €2,505 | €5,164 | €7,944 | €8,069 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €92,237 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €25,051 | €23,419 | €19,116 | €21,424 | €2,505 | €5,164 | €7,944 | €8,069 | ▲ 1.6% |
| Other operating charges640/8 | - | - | - | - | €2,345 | €901 | €3,499 | €2,351 | ▼ 32.8% |
| Gross operating margin9900 | €52,619 | €50,726 | €57,490 | €50,407 | €189,121 | €683,512 | -€49,346 | €130,983 | - |
| Operating profit (loss)9901 | €24,146 | €24,559 | €36,507 | €26,443 | €184,272 | €677,446 | -€60,789 | €120,562 | - |
| Financial income75/76B | - | - | - | - | - | €1,520 | €4,155 | €5,912 | ▲ 42.3% |
| Recurring financial income75 | €0 | €0 | €0 | €0 | - | €1,520 | €4,155 | €5,912 | ▲ 42.3% |
| Financial charges65/66B | - | - | - | - | €12,573 | €35,969 | €8,241 | €6,267 | ▼ 23.9% |
| Recurring financial charges65 | €9,517 | €8,783 | €9,226 | €10,050 | €12,573 | €35,969 | €8,241 | €6,267 | ▼ 23.9% |
| Profit (loss) for the period before taxes9903 | €14,629 | €15,776 | €27,281 | €16,393 | €171,699 | €642,997 | -€64,875 | €120,207 | - |
| Transfer from deferred taxes780 | - | - | - | - | - | €798 | €798 | €798 | = |
| Transfer to deferred taxes680 | - | - | - | - | €23,059 | €0 | - | - | - |
| Income taxes67/77 | €6,513 | €6,694 | €9,366 | €5,893 | €28,571 | €215,524 | -€1,633 | €19,009 | - |
| Profit (loss) for the period9904 | €8,116 | €9,082 | €17,915 | €10,500 | €120,068 | €428,271 | -€62,444 | €101,996 | - |
| Transfer from tax-exempt reserves789 | - | - | - | - | - | €2,394 | €2,394 | €2,394 | = |
| Transfer to tax-exempt reserves689 | - | - | - | - | €69,178 | €0 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €8,116 | €9,082 | €17,915 | €10,500 | €50,891 | €430,665 | -€60,050 | €104,390 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €330,976 | €320,604 | €293,285 | €530,889 | €966,794 | €958,324 | €753,699 | €829,767 | ▲ 10.1% |
| Fixed assets21/28 | €302,638 | €284,693 | €265,577 | €416,527 | €364,071 | €280,130 | €270,136 | €262,688 | ▼ 2.8% |
| Tangible fixed assets22/27 | €302,589 | €284,643 | €265,527 | €414,477 | €362,021 | €278,080 | €270,136 | €262,688 | ▼ 2.8% |
| Land and buildings22 | - | - | - | - | €362,006 | €278,080 | €270,136 | €262,126 | ▼ 3.0% |
| Furniture and vehicles24 | - | - | - | - | €15 | €0 | - | €562 | - |
| Financial fixed assets28 | €50 | €50 | €50 | €2,050 | €2,050 | €2,050 | €0 | - | - |
| Current assets29/58 | €28,337 | €35,912 | €27,708 | €114,362 | €602,723 | €678,195 | €483,563 | €567,078 | ▲ 17.3% |
| Stocks and contracts in progress3 | - | - | - | - | €429,506 | €0 | - | €16,430 | - |
| Stocks30/36 | - | - | - | - | €429,506 | €0 | - | €16,430 | - |
| Amounts receivable within one year40/41 | €12,100 | €3,135 | - | - | €39,985 | €137,032 | €205,740 | €65,107 | ▼ 68.4% |
| Trade receivables40 | - | - | - | - | - | €58,802 | €50,075 | €39,476 | ▼ 21.2% |
| Other amounts receivable41 | - | - | - | - | €39,985 | €78,230 | €155,665 | €25,631 | ▼ 83.5% |
| Current investments50/53 | - | - | - | - | - | - | €250,000 | €250,000 | = |
| Cash at bank and in hand54/58 | €10,447 | €28,797 | €21,871 | €105,470 | €122,083 | €532,940 | €25,408 | €233,034 | ▲ 817% |
| Deferred charges and accrued income490/1 | - | - | - | - | €11,149 | €8,222 | €2,416 | €2,507 | ▲ 3.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €330,976 | €320,604 | €293,285 | €530,889 | €966,794 | €958,324 | €753,699 | €829,767 | ▲ 10.1% |
| Equity10/15 | €140,871 | €149,953 | €167,868 | €178,368 | €240,822 | €661,603 | €599,159 | €701,155 | ▲ 17.0% |
| Contributions10/11 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Capital10 | - | - | - | - | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Issued capital100 | - | - | - | - | €61,500 | €61,500 | €61,500 | €61,500 | = |
| Reserves13 | €79,371 | €88,453 | €106,368 | €116,868 | €179,322 | €600,103 | €597,709 | €622,588 | ▲ 4.2% |
| Non-distributable reserves130/1 | - | - | - | - | €9,920 | €6,150 | €6,150 | €6,150 | = |
| Legal reserve130 | - | - | - | - | €9,920 | €6,150 | €6,150 | €6,150 | = |
| Tax-exempt reserves132 | - | - | - | - | €69,178 | €66,784 | €64,390 | €61,997 | ▼ 3.7% |
| Distributable reserves133 | - | - | - | - | €100,224 | €527,169 | €527,169 | €554,441 | ▲ 5.2% |
| Profit (loss) carried forward14 | - | - | - | - | - | €0 | -€60,050 | €17,067 | - |
| Provisions and deferred taxes16 | - | - | - | - | €23,059 | €22,261 | €21,463 | €20,666 | ▼ 3.7% |
| Deferred taxes168 | - | - | - | - | €23,059 | €22,261 | €21,463 | €20,666 | ▼ 3.7% |
| Amounts payable17/49 | €190,104 | €170,651 | €125,417 | €352,521 | €702,913 | €274,460 | €133,077 | €107,946 | ▼ 18.9% |
| Amounts payable after more than one year17 | €108,386 | €72,730 | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €81,719 | €97,921 | €125,417 | €352,521 | €702,913 | €274,460 | €133,077 | €107,946 | ▼ 18.9% |
| Financial debts43 | - | - | - | - | - | €125,478 | €125,366 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | - | - | €125,478 | €125,366 | €0 | ▼ 100% |
| Trade debts44 | €4,221 | €16,711 | €11,570 | €4,313 | €688 | €49,028 | €285 | €3,507 | ▲ 12× |
| Suppliers440/4 | - | - | - | - | €688 | €49,028 | €285 | €3,507 | ▲ 12× |
| Advances received on contracts in progress46 | - | - | - | - | €15,865 | €0 | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | - | €57,271 | €92,463 | €7,426 | €10,494 | ▲ 41.3% |
| Taxes450/3 | - | - | - | - | €57,271 | €92,463 | €7,426 | €10,494 | ▲ 41.3% |
| Other amounts payable47/48 | - | - | - | - | €629,089 | €7,490 | €0 | €93,945 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,116 | €9,082 | €17,915 | €10,500 | €120,068 | €428,271 | -€62,444 | €101,996 | - |
| + Depreciation and write-downs630 | €25,051 | €23,419 | €19,116 | €21,424 | €2,505 | €5,164 | €7,944 | €8,069 | ▲ 1.6% |
| Operating cash flow (approximation) | €33,167 | €32,501 | €37,031 | €31,924 | €122,573 | €433,435 | -€54,500 | €110,066 | - |
| Investment in fixed assets (approximation) | - | -€5,473 | €0 | -€172,374 | €49,951 | €78,777 | €2,050 | -€622 | - |
| Change in cash | - | €18,350 | -€6,927 | €83,599 | €16,613 | €410,858 | -€507,533 | €207,627 | - |
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 24 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 16-04-2026 | 2026-00080907 | |
| 31-12-2024 | micro format | 01-04-2025 | 2025-00060455 | |
| 31-12-2023 | micro format | 12-04-2024 | 2024-00062939 | |
| 31-12-2022 | micro format | 14-04-2023 | 2023-00062234 | |
| 31-12-2021 | micro format | 28-03-2022 | 2022-08700432 | |
| 31-12-2020 | micro format | 20-04-2021 | 2021-10700283 | |
| 31-12-2019 | micro format | 18-05-2020 | 2020-12400600 | |
| 31-12-2018 | micro format | 10-07-2019 | 2019-31000095 | |
| 31-12-2017 | micro format | 12-04-2018 | 2018-09600550 | |
| 31-12-2016 | micro format | 05-04-2017 | 2017-09000118 |