Financials · financial year 2025, micro format
Annual accounts 2025 filed on 30-06-2026 at the NBB all 9 filings
Equity
€236,649▲ 7.7%
2024 · €219,758
Net result
€16,890▼ 73.0%
2024 · €62,627
Total assets
€246,723▼ 5.6%
2024 · €261,323
Solvency
95.9%▲ 11.8pp
2024 · 84.1%
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€16,393
▼ 79.8%
2025
20182025
Net result
€16,890
▼ 73.0%
2025
middle half of the sector
20182025
Equity
€236,649
▲ 7.7%
2025
middle half of the sector
20182025
Total assets
€246,723
▼ 5.6%
2025
middle half of the sector
20182025
Debt
€10,075
▼ 75.8%
2025
20182025
Working capital
€225,215
▲ 10.5%
2025
highest quarter of the sector
20182025
Solvency
95.9%
▲ 11.8pp
2025
highest quarter of the sector
20182025
Current ratio
23.35
▲ 17.45
2025
highest quarter of the sector
20182025
Return on assets (ROA)
6.8%
▼ 17.1pp
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€90,730-€109,330▲ 20.5%€39,992▼ 63.4%€97,014▲ 143%€101,823▲ 5.0%€163,117▲ 60.2%€81,322▼ 50.1%€16,393▼ 79.8%
Net result€71,377-€83,297▲ 16.7%€32,536within the sector's middle half▼ 60.9%€78,288above the sector's middle half▲ 141%€74,823within the sector's middle half▼ 4.4%€124,754above the sector's middle half▲ 66.7%€62,627within the sector's middle half▼ 49.8%€16,890within the sector's middle half▼ 73.0%
Equity€161,434-€244,730▲ 51.6%€119,266within the sector's middle half▼ 51.3%€122,554within the sector's middle half▲ 2.8%€132,377within the sector's middle half▲ 8.0%€157,131within the sector's middle half▲ 18.7%€219,758within the sector's middle half▲ 39.9%€236,649within the sector's middle half▲ 7.7%
Total assets€197,089-€255,605▲ 29.7%€295,231within the sector's middle half▲ 15.5%€210,058within the sector's middle half▼ 28.8%€216,119within the sector's middle half▲ 2.9%€301,074within the sector's middle half▲ 39.3%€261,323within the sector's middle half▼ 13.2%€246,723within the sector's middle half▼ 5.6%
Debt€35,655-€10,875▼ 69.5%€175,965▲ 16×€87,504▼ 50.3%€83,742▼ 4.3%€143,943▲ 71.9%€41,565▼ 71.1%€10,075▼ 75.8%
Working capital€129,327-€212,101▲ 64.0%€94,268within the sector's middle half▼ 55.6%€86,578within the sector's middle half▼ 8.2%€106,390within the sector's middle half▲ 22.9%€147,457within the sector's middle half▲ 38.6%€203,904above the sector's middle half▲ 38.3%€225,215above the sector's middle half▲ 10.5%
Solvency81.9%-95.7%▲ 13.8pp40.4%within the sector's middle half▼ 55.3pp58.3%within the sector's middle half▲ 17.9pp61.3%within the sector's middle half▲ 2.9pp52.2%within the sector's middle half▼ 9.1pp84.1%above the sector's middle half▲ 31.9pp95.9%above the sector's middle half▲ 11.8pp
Current ratio4.63-20.50▲ 15.881.54within the sector's middle half▼ 18.971.99within the sector's middle half▲ 0.452.27within the sector's middle half▲ 0.282.02within the sector's middle half▼ 0.255.91above the sector's middle half▲ 3.8823.35above the sector's middle half▲ 17.45
Return on assets (ROA)36.2%-32.6%▼ 3.6pp11.0%within the sector's middle half▼ 21.6pp37.3%above the sector's middle half▲ 26.2pp34.6%above the sector's middle half▼ 2.6pp41.4%above the sector's middle half▲ 6.8pp24.0%within the sector's middle half▼ 17.5pp6.8%within the sector's middle half▼ 17.1pp
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 80% lower than in 2024 and the lowest since 2021. It is the second fall in a row.
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 €246,723
Fixed assets
€11,433 ▼ 27.9%
Current assets
€235,290 ▼ 4.1%
Equity and liabilities €246,723
Equity
€236,649 ▲ 7.7%
Debt
€10,075 ▼ 75.8%
Debt's share of the balance-sheet total falls from 15.9% to 4.1%. Equity is higher and debt is lower.
Key figures and ratios
ROE
7.1%▼
2024 · 28.5%
Debt ≤ 1 year
€10,075▼
2024 · €41,565
Income taxes
€910▼
2024 · €24,074
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 | €16,675 | - | - | - | - |
| Financial fixed assets | €3,000 | - | - | €10,601 | - |
| Depreciation and write-downs of the year | €8,697 | €9,989 | €5,826 | €4,421 | €4,421 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,027 | €9,078 | €7,631 | €8,697 | €9,989 | €5,826 | €4,421 | €4,421 | = |
| Other operating charges640/8 | - | - | - | €252 | €235 | €214 | €637 | €277 | ▼ 56.6% |
| Gross operating margin9900 | €99,023 | €118,663 | €47,861 | €105,963 | €112,046 | €169,156 | €86,380 | €21,090 | ▼ 75.6% |
| Operating profit (loss)9901 | €90,730 | €109,330 | €39,992 | €97,014 | €101,823 | €163,117 | €81,322 | €16,393 | ▼ 79.8% |
| Financial income75/76B | - | - | - | €429 | €686 | €11,673 | €5,454 | €1,659 | ▼ 69.6% |
| Recurring financial income75 | €440 | €117 | €570 | €429 | €686 | €1,405 | €5,454 | €1,659 | ▼ 69.6% |
| Non-recurring financial income76B | - | - | - | - | - | €10,268 | - | - | - |
| Financial charges65/66B | - | - | - | -€3,782 | €5,505 | €2,815 | €75 | €251 | ▲ 235% |
| Recurring financial charges65 | €824 | €1,219 | -€1,734 | -€3,782 | €5,505 | €914 | €75 | €251 | ▲ 235% |
| Non-recurring financial charges66B | - | - | - | - | - | €1,901 | - | - | - |
| Profit (loss) for the period before taxes9903 | €90,345 | €108,228 | €42,296 | €101,224 | €97,004 | €171,975 | €86,701 | €17,800 | ▼ 79.5% |
| Income taxes67/77 | €18,968 | €24,931 | €9,760 | €22,936 | €22,181 | €47,221 | €24,074 | €910 | ▼ 96.2% |
| Profit (loss) for the period9904 | €71,377 | €83,297 | €32,536 | €78,288 | €74,823 | €124,754 | €62,627 | €16,890 | ▼ 73.0% |
| Profit (loss) for the period to be appropriated9905 | €71,377 | €83,297 | €32,536 | €78,288 | €74,823 | €124,754 | €62,627 | €16,890 | ▼ 73.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €197,089 | €255,605 | €295,231 | €210,058 | €216,119 | €301,074 | €261,323 | €246,723 | ▼ 5.6% |
| Fixed assets21/28 | €32,107 | €32,629 | €24,998 | €35,976 | €25,987 | €9,674 | €15,854 | €11,433 | ▼ 27.9% |
| Tangible fixed assets22/27 | €32,107 | €32,629 | €24,998 | €32,976 | €22,987 | €9,674 | €5,253 | €832 | ▼ 84.2% |
| Land and buildings22 | - | - | - | €18,525 | €14,095 | €9,674 | €5,253 | €832 | ▼ 84.2% |
| Plant, machinery and equipment23 | - | - | - | €2,809 | €1,405 | €0 | - | - | - |
| Furniture and vehicles24 | - | - | - | €11,642 | €7,488 | - | - | - | - |
| Financial fixed assets28 | - | - | - | €3,000 | €3,000 | €0 | €10,601 | €10,601 | = |
| Current assets29/58 | €164,982 | €222,976 | €270,233 | €174,081 | €190,132 | €291,400 | €245,469 | €235,290 | ▼ 4.1% |
| Amounts receivable within one year40/41 | €52,947 | €79,704 | €164,181 | €60,501 | €37,911 | €62,231 | €36,341 | €39,254 | ▲ 8.0% |
| Trade receivables40 | - | - | - | €32,064 | €30,880 | €31,713 | €29,252 | €16,329 | ▼ 44.2% |
| Other amounts receivable41 | - | - | - | €28,437 | €7,030 | €30,518 | €7,089 | €22,925 | ▲ 223% |
| Current investments50/53 | €3,499 | €2,920 | €17,897 | €23,269 | €68,533 | €185,619 | €110,050 | €125,087 | ▲ 13.7% |
| Cash at bank and in hand54/58 | €101,056 | €134,919 | €83,188 | €87,864 | €81,340 | €41,537 | €96,310 | €67,875 | ▼ 29.5% |
| Deferred charges and accrued income490/1 | - | - | - | €2,448 | €2,348 | €2,013 | €2,768 | €3,074 | ▲ 11.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €197,089 | €255,605 | €295,231 | €210,058 | €216,119 | €301,074 | €261,323 | €246,723 | ▼ 5.6% |
| Equity10/15 | €161,434 | €244,730 | €119,266 | €122,554 | €132,377 | €157,131 | €219,758 | €236,649 | ▲ 7.7% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €140,974 | €224,270 | €98,806 | €102,094 | €111,917 | €136,671 | €199,298 | €216,189 | ▲ 8.5% |
| Amounts payable17/49 | €35,655 | €10,875 | €175,965 | €87,504 | €83,742 | €143,943 | €41,565 | €10,075 | ▼ 75.8% |
| Amounts payable within one year42/48 | €35,655 | €10,875 | €175,965 | €87,504 | €83,742 | €143,943 | €41,565 | €10,075 | ▼ 75.8% |
| Trade debts44 | €14,940 | €2,318 | €3,179 | €3,277 | €3,371 | €3,718 | €2,897 | €2,720 | ▼ 6.1% |
| Suppliers440/4 | - | - | - | €3,277 | €3,371 | €3,718 | €2,897 | €2,720 | ▼ 6.1% |
| Taxes, remuneration and social security45 | - | - | - | €9,227 | €15,372 | €40,224 | €38,668 | €7,355 | ▼ 81.0% |
| Taxes450/3 | - | - | - | €9,227 | €15,372 | €40,224 | €38,668 | €7,355 | ▼ 81.0% |
| Other amounts payable47/48 | - | - | - | €75,000 | €65,000 | €100,000 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €71,377 | €83,297 | €32,536 | €78,288 | €74,823 | €124,754 | €62,627 | €16,890 | ▼ 73.0% |
| + Depreciation and write-downs630 | €8,027 | €9,078 | €7,631 | €8,697 | €9,989 | €5,826 | €4,421 | €4,421 | = |
| Operating cash flow (approximation) | €79,404 | €92,375 | €40,166 | €86,985 | €84,812 | €130,579 | €67,048 | €21,311 | ▼ 68.2% |
| Investment in fixed assets (approximation) | - | -€9,600 | €0 | -€19,675 | €0 | €10,488 | -€10,601 | €0 | - |
| Change in cash | - | €33,862 | -€51,730 | €4,675 | -€6,524 | -€39,803 | €54,773 | -€28,435 | - |
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 (9)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-06-2026 | 2026-00223710 | |
| 31-12-2024 | micro format | 13-08-2025 | 2025-00373469 | |
| 31-12-2023 | micro format | 28-08-2024 | 2024-00383648 | |
| 31-12-2022 | micro format | 21-06-2023 | 2023-00149087 | |
| 31-12-2021 | micro format | 30-06-2022 | 2022-20152662 | |
| 31-12-2020 | micro format | 10-06-2021 | 2021-18800292 | |
| 31-12-2019 | micro format | 31-07-2020 | 2020-37500543 | |
| 31-12-2018 | micro format | 02-08-2019 | 2019-43000553 | |
| 31-12-2017 | micro format | 24-08-2018 | 2018-49400564 |