Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 13-04-2026 PDF all 25 filings
Equity
€68,519▼ 31.4%
2024 · €99,898
Net result
€66,063▲ 27.4%
2024 · €51,862
Total assets
€193,593▲ 4.5%
2024 · €185,206
Solvency
35.4%▼ 18.5pp
2024 · 53.9%
In the rankings
#7 oldest company in Mortsel, Finance and insurance sector
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€95,640
▲ 61.8%
2025
20192025
Net result
€66,063
▲ 27.4%
2025
middle half of the sector
20192025
Equity
€68,519
▼ 31.4%
2025
lowest quarter of the sector
20192025
Total assets
€193,593
▲ 4.5%
2025
lowest quarter of the sector
20192025
Debt
€125,074
▲ 46.6%
2025
20192025
Working capital
€52,916
▼ 29.4%
2025
middle half of the sector
20192025
Solvency
35.4%
▼ 18.5pp
2025
middle half of the sector
20192025
Current ratio
1.42
▼ 0.46
2025
middle half of the sector
20192025
Return on assets (ROA)
34.1%
▲ 6.1pp
2025
highest quarter of the sector
20192025
Staff (FTE)
1.9
▼ 5.0%
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€91,768-€61,054▼ 33.5%€71,429▲ 17.0%€62,087▼ 13.1%€47,744▼ 23.1%€59,111▲ 23.8%€95,640▲ 61.8%
Net result€69,178-€49,801within the sector's middle half▼ 28.0%€58,226within the sector's middle half▲ 16.9%€41,122within the sector's middle half▼ 29.4%€32,364within the sector's middle half▼ 21.3%€51,862within the sector's middle half▲ 60.2%€66,063within the sector's middle half▲ 27.4%
Equity€209,944-€222,745within the sector's middle half▲ 6.1%€243,071within the sector's middle half▲ 9.1%€284,192within the sector's middle half▲ 16.9%€198,037within the sector's middle half▼ 30.3%€99,898below the sector's middle half▼ 49.6%€68,519below the sector's middle half▼ 31.4%
Total assets€391,836-€376,470below the sector's middle half▼ 3.9%€401,621below the sector's middle half▲ 6.7%€352,981below the sector's middle half▼ 12.1%€273,111below the sector's middle half▼ 22.6%€185,206below the sector's middle half▼ 32.2%€193,593below the sector's middle half▲ 4.5%
Debt€181,892-€153,725▼ 15.5%€158,550▲ 3.1%€68,788▼ 56.6%€75,074▲ 9.1%€85,307▲ 13.6%€125,074▲ 46.6%
Working capital€200,077-€214,911within the sector's middle half▲ 7.4%€229,059within the sector's middle half▲ 6.6%€231,492within the sector's middle half▲ 1.1%€164,074within the sector's middle half▼ 29.1%€75,004within the sector's middle half▼ 54.3%€52,916within the sector's middle half▼ 29.4%
Solvency53.6%-59.2%within the sector's middle half▲ 5.6pp60.5%within the sector's middle half▲ 1.4pp80.5%above the sector's middle half▲ 20.0pp72.5%above the sector's middle half▼ 8.0pp53.9%within the sector's middle half▼ 18.6pp35.4%within the sector's middle half▼ 18.5pp
Current ratio3.38-3.83above the sector's middle half▲ 0.453.74above the sector's middle half▼ 0.095.45above the sector's middle half▲ 1.713.29within the sector's middle half▼ 2.161.88within the sector's middle half▼ 1.411.42within the sector's middle half▼ 0.46
Return on assets (ROA)17.7%-13.2%within the sector's middle half▼ 4.4pp14.5%within the sector's middle half▲ 1.3pp11.6%within the sector's middle half▼ 2.8pp11.9%within the sector's middle half▲ 0.2pp28.0%above the sector's middle half▲ 16.2pp34.1%above the sector's middle half▲ 6.1pp
Staff (FTE)3-3within the sector's middle half=3within the sector's middle half=3within the sector's middle half=2.3within the sector's middle half▼ 23.3%2within the sector's middle half▼ 13.0%1.9within the sector's middle half▼ 5.0%
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 62% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
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 €193,593
Fixed assets
€15,603 ▼ 37.3%
Current assets
€177,990 ▲ 11.0%
Equity and liabilities €193,593
Equity
€68,519 ▼ 31.4%
Debt
€125,074 ▲ 46.6%
Debt's share of the balance-sheet total rises from 46.1% to 64.6%. Equity is lower and debt is higher.
Key figures and ratios
ROE
96.4%▲
2024 · 51.9%
Debt ≤ 1 year
€125,074▲
2024 · €85,307
Income taxes
€29,282▲
2024 · €6,702
Staff costs
€137,025▼
2024 · €154,305
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 3 | 2 | 2 | 2 |
| full-time | 3 | 2 | 2 | 1 |
| part-time | 0 | 0 | 0 | 1 |
| in full-time equivalents | 3 | 2 | 2 | 1.9 |
| Average over the year, in full-time equivalents | 3 | 2.3 | 2 | 1.9 |
| On a permanent contract | 3 | 2 | 2 | 2 |
| Joined | - | 0 | - | - |
| Left | - | 1 | - | - |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €1,102 | - | €1,188 | €1,263 |
| Depreciation and write-downs of the year | €20,704 | €13,610 | €13,639 | €10,554 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 · 1 entry · €2,450 awarded · €2,450 paidSchemes
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €14,063 | €0 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €163,704 | €155,881 | €154,305 | €137,025 | ▼ 11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €21,974 | €21,974 | €19,526 | €20,704 | €13,610 | €13,639 | €10,554 | ▼ 22.6% |
| Other operating charges640/8 | - | - | - | €8,494 | €6,794 | €12,261 | €5,208 | ▼ 57.5% |
| Non-recurring operating charges66A | - | - | - | €0 | - | - | - | - |
| Gross operating margin9900 | €265,966 | €236,348 | €264,861 | €254,989 | €224,029 | €239,317 | €248,427 | ▲ 3.8% |
| Operating profit (loss)9901 | €91,768 | €61,054 | €71,429 | €62,087 | €47,744 | €59,111 | €95,640 | ▲ 61.8% |
| Financial income75/76B | - | - | - | €620 | €17 | €32 | €1 | ▼ 97.9% |
| Recurring financial income75 | €9 | €76 | €49 | €620 | €17 | €32 | €1 | ▼ 97.9% |
| Financial charges65/66B | - | - | - | €699 | €871 | €579 | €296 | ▼ 48.9% |
| Recurring financial charges65 | €821 | €897 | €926 | €699 | €871 | €579 | €296 | ▼ 48.9% |
| Profit (loss) for the period before taxes9903 | €90,956 | €60,232 | €70,520 | €62,007 | €46,890 | €58,564 | €95,345 | ▲ 62.8% |
| Income taxes67/77 | €21,778 | €10,432 | €12,294 | €20,886 | €14,526 | €6,702 | €29,282 | ▲ 337% |
| Profit (loss) for the period9904 | €69,178 | €49,801 | €58,226 | €41,122 | €32,364 | €51,862 | €66,063 | ▲ 27.4% |
| Profit (loss) for the period to be appropriated9905 | €69,178 | €49,801 | €58,226 | €41,122 | €32,364 | €51,862 | €66,063 | ▲ 27.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €391,836 | €376,470 | €401,621 | €352,981 | €273,111 | €185,206 | €193,593 | ▲ 4.5% |
| Fixed assets21/28 | €107,610 | €85,636 | €89,072 | €69,469 | €37,346 | €24,894 | €15,603 | ▼ 37.3% |
| Intangible fixed assets21 | €50,792 | €45,149 | €39,505 | €33,862 | €17,248 | €13,799 | €10,349 | ▼ 25.0% |
| Tangible fixed assets22/27 | €56,818 | €40,487 | €49,567 | €35,608 | €20,097 | €11,096 | €5,254 | ▼ 52.6% |
| Land and buildings22 | - | - | - | €8,862 | €4,807 | €752 | €0 | ▼ 100% |
| Plant, machinery and equipment23 | - | - | - | €422 | €29 | €794 | €1,417 | ▲ 78.4% |
| Furniture and vehicles24 | - | - | - | €26,324 | €15,262 | €9,550 | €3,837 | ▼ 59.8% |
| Current assets29/58 | €284,226 | €290,834 | €312,549 | €283,511 | €235,765 | €160,311 | €177,990 | ▲ 11.0% |
| Amounts receivable within one year40/41 | €178,698 | €185,894 | €190,965 | €199,943 | €164,918 | €121,125 | €136,090 | ▲ 12.4% |
| Other amounts receivable41 | - | - | - | €199,943 | €164,918 | €121,125 | €136,090 | ▲ 12.4% |
| Cash at bank and in hand54/58 | €101,970 | €101,374 | €116,971 | €77,084 | €68,862 | €32,049 | €37,895 | ▲ 18.2% |
| Deferred charges and accrued income490/1 | - | - | - | €6,484 | €1,986 | €7,137 | €4,005 | ▼ 43.9% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €391,836 | €376,470 | €401,621 | €352,981 | €273,111 | €185,206 | €193,593 | ▲ 4.5% |
| Equity10/15 | €209,944 | €222,745 | €243,071 | €284,192 | €198,037 | €99,898 | €68,519 | ▼ 31.4% |
| Contributions10/11 | €75,000 | €75,000 | €75,000 | €75,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | - | - | €75,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | - | - | €75,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €8,048 | €8,048 | €8,048 | €8,048 | €4,692 | €6,519 | €6,519 | = |
| Non-distributable reserves130/1 | - | - | - | €7,500 | €4,372 | €6,200 | €6,200 | = |
| Legal reserve130 | - | - | - | €7,500 | €4,372 | €6,200 | €6,200 | = |
| Tax-exempt reserves132 | - | - | - | €548 | €319 | €319 | €319 | = |
| Profit (loss) carried forward14 | €126,896 | €139,697 | €160,023 | €201,144 | €131,345 | €31,379 | €0 | ▼ 100% |
| Amounts payable17/49 | €181,892 | €153,725 | €158,550 | €68,788 | €75,074 | €85,307 | €125,074 | ▲ 46.6% |
| Amounts payable after more than one year17 | €57,898 | €40,803 | €38,060 | €16,769 | €3,383 | €0 | - | - |
| Financial debts170/4 | - | - | - | €16,769 | €3,383 | €0 | - | - |
| Amounts payable within one year42/48 | €84,150 | €75,923 | €83,490 | €52,019 | €71,691 | €85,307 | €125,074 | ▲ 46.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €21,291 | €11,753 | €3,383 | €0 | ▼ 100% |
| Financial debts43 | - | - | - | €4,023 | €3,821 | €4,074 | €3,644 | ▼ 10.6% |
| Credit institutions430/8 | - | - | - | €4,023 | €3,821 | €4,074 | €3,644 | ▼ 10.6% |
| Trade debts44 | €2,330 | €2,333 | €3,664 | €4,819 | €5,130 | €7,063 | €4,897 | ▼ 30.7% |
| Suppliers440/4 | - | - | - | €4,819 | €5,130 | €7,063 | €4,897 | ▼ 30.7% |
| Taxes, remuneration and social security45 | - | - | - | €21,887 | €14,330 | €20,786 | €19,092 | ▼ 8.2% |
| Taxes450/3 | - | - | - | €4,886 | €0 | €4,195 | €4,282 | ▲ 2.1% |
| Remuneration and social security454/9 | - | - | - | €17,001 | €14,330 | €16,591 | €14,810 | ▼ 10.7% |
| Other amounts payable47/48 | - | - | - | €0 | €36,656 | €50,000 | €97,442 | ▲ 94.9% |
| Accrued charges and deferred income492/3 | - | - | - | €0 | - | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €69,178 | €49,801 | €58,226 | €41,122 | €32,364 | €51,862 | €66,063 | ▲ 27.4% |
| + Depreciation and write-downs630 | €21,974 | €21,974 | €19,526 | €20,704 | €13,610 | €13,639 | €10,554 | ▼ 22.6% |
| Operating cash flow (approximation) | €91,152 | €71,774 | €77,752 | €61,826 | €45,974 | €65,501 | €76,617 | ▲ 17.0% |
| Investment in fixed assets (approximation) | - | €0 | -€22,961 | -€1,102 | €18,514 | -€1,188 | -€1,263 | ▼ 6.3% |
| Change in cash | - | -€596 | €15,597 | -€39,887 | -€8,222 | -€36,813 | €5,846 | - |
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 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 13-04-2026 | 2026-00077981 | |
| 30-09-2024 | abbreviated format | 25-03-2025 | 2025-00054366 | |
| 30-09-2023 | abbreviated format | 15-02-2024 | 2024-00031184 | |
| 30-09-2022 | abbreviated format | 03-02-2023 | 2023-00021288 | |
| 30-09-2021 | abbreviated format | 28-01-2022 | 2022-04300151 | |
| 30-09-2020 | abbreviated format | 17-03-2021 | 2021-07800142 | |
| 30-09-2019 | abbreviated format | 03-03-2020 | 2020-06400139 | |
| 30-09-2018 | abbreviated format | 04-02-2019 | 2019-04400199 | |
| 30-09-2017 | abbreviated format | 23-04-2018 | 2018-10500150 | |
| 30-09-2016 | abbreviated format | 07-03-2017 | 2017-05900257 |