Financials · financial year 2025, micro format
2025 annual accounts filed 66 days after the deadline Filed on 5 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00546395.
Annual accounts 2025 filed on 05-10-2026 at the NBB all 2 filings
Equity
€3,973▼ 60.8%
2024 · €10,131
Net result
-€6,158▼ 26.5%
2024 · -€4,869
Total assets
€184,137▼ 0.2%
2024 · €184,477
Solvency
2.2%▼ 3.3pp
2024 · 5.5%
Multi-year overview
2024 to 2025, 2 financial yearsOperating result
-€827
▲ 38.0%
2025
20242025
Net result
-€6,158
▼ 26.5%
2025
lowest quarter of the sector
20242025
Equity
€3,973
▼ 60.8%
2025
lowest quarter of the sector
20242025
Total assets
€184,137
▼ 0.2%
2025
middle half of the sector
20242025
Debt
€180,164
▲ 3.3%
2025
20242025
Solvency
2.2%
▼ 3.3pp
2025
lowest quarter of the sector
20242025
Return on assets (ROA)
-3.3%
▼ 0.7pp
2025
lowest quarter of the sector
20242025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20242025
Operating result-€1,334--€827▲ 38.0%
Net result-€4,869below the sector's middle half--€6,158below the sector's middle half▼ 26.5%
Equity€10,131below the sector's middle half-€3,973below the sector's middle half▼ 60.8%
Total assets€184,477within the sector's middle half-€184,137within the sector's middle half▼ 0.2%
Debt€174,346-€180,164▲ 3.3%
Solvency5.5%below the sector's middle half-2.2%below the sector's middle half▼ 3.3pp
Return on assets (ROA)-2.6%below the sector's middle half--3.3%below the sector's middle half▼ 0.7pp
above
within
below
The sector band is the middle half of the companies in Activities auxiliary to financial services and insurance activities (NACE 66). 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 loss of €827, smaller than the loss of €1,334 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €184,137
Equity
€3,973 ▼ 60.8%
Debt
€180,164 ▲ 3.3%
Debt's share of the balance-sheet total rises from 94.5% to 97.8%. Equity is lower and debt is higher.
Key figures and ratios
ROE
-155.0%▼
2024 · -48.1%
Debt ≤ 1 year
€68,769▲
2024 · €60,072
Debt > 1 year
€111,395▼
2024 · €114,274
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2024 | 2025 |
|---|---|---|
| Tangible fixed assets | €183,178 | - |
| Depreciation and write-downs of the year | €401 | €340 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €401 | €340 | ▼ 15.2% |
| Gross operating margin9900 | -€934 | -€487 | ▲ 47.8% |
| Operating profit (loss)9901 | -€1,334 | -€827 | ▲ 38.0% |
| Financial charges65/66B | €3,534 | €5,331 | ▲ 50.8% |
| Recurring financial charges65 | €3,534 | €5,331 | ▲ 50.8% |
| Profit (loss) for the period before taxes9903 | -€4,869 | -€6,158 | ▼ 26.5% |
| Profit (loss) for the period9904 | -€4,869 | -€6,158 | ▼ 26.5% |
| Profit (loss) for the period to be appropriated9905 | -€4,869 | -€6,158 | ▼ 26.5% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €184,477 | €184,137 | ▼ 0.2% |
| Formation expenses20 | €1,299 | €959 | ▼ 26.2% |
| Fixed assets21/28 | €183,178 | €183,178 | = |
| Tangible fixed assets22/27 | €183,178 | €183,178 | = |
| Assets under construction and advance payments27 | €183,178 | €183,178 | = |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €184,477 | €184,137 | ▼ 0.2% |
| Equity10/15 | €10,131 | €3,973 | ▼ 60.8% |
| Contributions10/11 | €15,000 | €15,000 | = |
| Profit (loss) carried forward14 | -€4,869 | -€11,027 | ▼ 126% |
| Amounts payable17/49 | €174,346 | €180,164 | ▲ 3.3% |
| Amounts payable after more than one year17 | €114,274 | €111,395 | ▼ 2.5% |
| Financial debts170/4 | €114,274 | €111,395 | ▼ 2.5% |
| Amounts payable within one year42/48 | €60,072 | €68,769 | ▲ 14.5% |
| Current portion of amounts payable after more than one year42 | €2,794 | €3,531 | ▲ 26.4% |
| Financial debts43 | - | €5 | - |
| Credit institutions430/8 | - | €5 | - |
| Trade debts44 | €8,531 | - | - |
| Suppliers440/4 | €8,531 | - | - |
| Other amounts payable47/48 | €48,748 | €65,233 | ▲ 33.8% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€4,869 | -€6,158 | ▼ 26.5% |
| + Depreciation and write-downs630 | €401 | €340 | ▼ 15.2% |
| Operating cash flow (approximation) | -€4,468 | -€5,818 | ▼ 30.2% |
| Investment in fixed assets (approximation) | - | -€340 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.