Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 22-06-2026 at the NBB all 5 filings
Equity
€809,070▲ 26.8%
2024 · €638,225
Net result
€270,845▲ 39.7%
2024 · €193,858
Total assets
€1.4m▲ 42.9%
2024 · €947,244
Solvency
59.8%▼ 7.6pp
2024 · 67.4%
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€359,172
▼ 2.5%
2025
20212025
Net result
€270,845
▲ 39.7%
2025
highest quarter of the sector
20212025
Equity
€809,070
▲ 26.8%
2025
highest quarter of the sector
20212025
Total assets
€1.4m
▲ 42.9%
2025
middle half of the sector
20212025
Debt
€544,506
▲ 76.2%
2025
20212025
Working capital
€169,898
▲ 22.6%
2025
middle half of the sector
20212025
Solvency
59.8%
▼ 7.6pp
2025
middle half of the sector
20212025
Current ratio
2.09
▲ 0.35
2025
middle half of the sector
20212025
Return on assets (ROA)
20.0%
▼ 0.5pp
2025
middle half of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result€0.05m-€0.4m▲ 640%€0.3m▼ 19.7%€0.4m▲ 27.4%€0.4m▼ 2.5%
Net result€0.2mwithin the sector's middle half-€0.2mabove the sector's middle half▲ 45.1%€0.1mwithin the sector's middle half▼ 40.0%€0.2mwithin the sector's middle half▲ 31.5%€0.3mabove the sector's middle half▲ 39.7%
Equity€0.3mwithin the sector's middle half-€0.5mwithin the sector's middle half▲ 91.2%€0.7mwithin the sector's middle half▲ 28.6%€0.6mwithin the sector's middle half▼ 3.6%€0.8mabove the sector's middle half▲ 26.8%
Total assets€0.7mwithin the sector's middle half-€0.8mwithin the sector's middle half▲ 29.2%€0.9mwithin the sector's middle half▲ 9.3%€0.9mwithin the sector's middle half▲ 2.2%€1.4mwithin the sector's middle half▲ 42.9%
Debt€0.4m-€0.3m▼ 14.0%€0.3m▼ 20.5%€0.3m▲ 16.9%€0.5m▲ 76.2%
Working capital-€0.03mbelow the sector's middle half-€0.2mwithin the sector's middle half€0.2mwithin the sector's middle half▲ 27.8%€0.1mwithin the sector's middle half▼ 32.2%€0.2mwithin the sector's middle half▲ 22.6%
Solvency41.0%within the sector's middle half-60.8%within the sector's middle half▲ 19.7pp71.5%above the sector's middle half▲ 10.7pp67.4%above the sector's middle half▼ 4.1pp59.8%within the sector's middle half▼ 7.6pp
Current ratio0.62below the sector's middle half-2.74above the sector's middle half▲ 2.113.45above the sector's middle half▲ 0.711.74within the sector's middle half▼ 1.712.09within the sector's middle half▲ 0.35
Return on assets (ROA)25.8%above the sector's middle half-29.0%above the sector's middle half▲ 3.2pp15.9%within the sector's middle half▼ 13.1pp20.5%within the sector's middle half▲ 4.6pp20.0%within the sector's middle half▼ 0.5pp
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 3% lower than in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.4m
Fixed assets
€1.0m ▲ 65.7%
Current assets
€325,834 ▼ 0.4%
Equity and liabilities €1.4m
Equity
€809,070 ▲ 26.8%
Debt
€544,506 ▲ 76.2%
Debt's share of the balance-sheet total rises from 32.6% to 40.2%. Equity and debt are higher.
Key figures and ratios
ROE
33.5%▲
2024 · 30.4%
Debt ≤ 1 year
€155,936▼
2024 · €188,520
Debt > 1 year
€386,981▲
2024 · €120,499
Income taxes
€82,918▲
2024 · €73,140
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 | €34,045 | - | €58,965 | - | €426,808 |
| Financial fixed assets | €573,215 | €500 | - | - | - |
| Depreciation and write-downs of the year | €5,429 | €6,809 | €15,726 | €18,602 | €19,225 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,429 | €6,809 | €15,726 | €18,602 | €19,225 | ▲ 3.3% |
| Other operating charges640/8 | €1,026 | €797 | €2,795 | €2,465 | €2,075 | ▼ 15.8% |
| Gross operating margin9900 | €55,173 | €368,103 | €307,852 | €389,612 | €380,472 | ▼ 2.3% |
| Operating profit (loss)9901 | €48,718 | €360,497 | €289,330 | €368,545 | €359,172 | ▼ 2.5% |
| Financial income75/76B | €150,000 | - | - | - | €100,000 | - |
| Recurring financial income75 | €150,000 | - | - | - | €100,000 | - |
| Financial charges65/66B | €10,144 | €3,618 | €83,253 | €101,547 | €105,408 | ▲ 3.8% |
| Recurring financial charges65 | €10,144 | €3,618 | €83,253 | €101,547 | €105,408 | ▲ 3.8% |
| Profit (loss) for the period before taxes9903 | €188,574 | €356,879 | €206,077 | €266,998 | €353,763 | ▲ 32.5% |
| Income taxes67/77 | €19,301 | €111,184 | €58,679 | €73,140 | €82,918 | ▲ 13.4% |
| Profit (loss) for the period9904 | €169,274 | €245,695 | €147,398 | €193,858 | €270,845 | ▲ 39.7% |
| Profit (loss) for the period to be appropriated9905 | €169,274 | €245,695 | €147,398 | €193,858 | €270,845 | ▲ 39.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €0.7m | €0.8m | €0.9m | €0.9m | €1.4m | ▲ 42.9% |
| Fixed assets21/28 | €0.6m | €0.6m | €0.6m | €0.6m | €1.0m | ▲ 65.7% |
| Tangible fixed assets22/27 | €0.03m | €0.02m | €0.07m | €0.05m | €0.5m | ▲ 878% |
| Land and buildings22 | - | - | - | - | €0.2m | - |
| Furniture and vehicles24 | €0.03m | €0.02m | €0.07m | €0.05m | €0.03m | ▼ 31.6% |
| Assets under construction and advance payments27 | - | - | - | - | €0.2m | - |
| Financial fixed assets28 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Current assets29/58 | €0.05m | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 0.4% |
| Amounts receivable within one year40/41 | €0.01m | €0.01m | €0.04m | €0.06m | €0.1m | ▲ 76.5% |
| Trade receivables40 | €78 | - | - | €0.04m | €0.04m | ▼ 5.7% |
| Other amounts receivable41 | €0.01m | €0.01m | €0.04m | €0.02m | €0.07m | ▲ 215% |
| Cash at bank and in hand54/58 | €0.04m | €0.2m | €0.2m | €0.3m | €0.2m | ▼ 18.9% |
| Deferred charges and accrued income490/1 | - | - | €122 | €0 | €0.002m | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €0.7m | €0.8m | €0.9m | €0.9m | €1.4m | ▲ 42.9% |
| Equity10/15 | €0.3m | €0.5m | €0.7m | €0.6m | €0.8m | ▲ 26.8% |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Reserves13 | €0.1m | €0.3m | €0.4m | €0.5m | €0.7m | ▲ 31.9% |
| Distributable reserves133 | €0.1m | €0.3m | €0.4m | €0.5m | €0.7m | ▲ 31.9% |
| Profit (loss) carried forward14 | €0.07m | €0.07m | €0.1m | €0.005m | €0.006m | ▲ 16.2% |
| Amounts payable17/49 | €0.4m | €0.3m | €0.3m | €0.3m | €0.5m | ▲ 76.2% |
| Amounts payable after more than one year17 | €0.3m | €0.2m | €0.2m | €0.1m | €0.4m | ▲ 221% |
| Financial debts170/4 | €0.3m | €0.2m | €0.2m | €0.1m | €0.4m | ▲ 221% |
| Amounts payable within one year42/48 | €0.09m | €0.09m | €0.08m | €0.2m | €0.2m | ▼ 17.3% |
| Current portion of amounts payable after more than one year42 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | ▼ 7.0% |
| Trade debts44 | €0.002m | €0.002m | €0.001m | €0.003m | €0.001m | ▼ 56.1% |
| Suppliers440/4 | €0.002m | €0.002m | €0.001m | €0.003m | €0.001m | ▼ 56.1% |
| Taxes, remuneration and social security45 | €0.03m | €0.03m | €0.02m | €0.03m | €0.02m | ▼ 21.3% |
| Taxes450/3 | €0.03m | €0.03m | €0.02m | €0.03m | €0.02m | ▼ 21.3% |
| Other amounts payable47/48 | - | - | - | €0.1m | €0.08m | ▼ 21.5% |
| Accrued charges and deferred income492/3 | - | - | - | - | €0.002m | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €169,274 | €245,695 | €147,398 | €193,858 | €270,845 | ▲ 39.7% |
| + Depreciation and write-downs630 | €5,429 | €6,809 | €15,726 | €18,602 | €19,225 | ▲ 3.3% |
| Operating cash flow (approximation) | €174,702 | €252,504 | €163,124 | €212,460 | €290,070 | ▲ 36.5% |
| Investment in fixed assets (approximation) | - | -€500 | -€58,965 | €0 | -€426,808 | - |
| Change in cash | - | €196,117 | €3,061 | €22,443 | -€50,331 | - |
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 (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 22-06-2026 | 2026-00182444 | |
| 31-12-2024 | full format | 24-07-2025 | 2025-00302568 | |
| 31-12-2023 | full format | 17-06-2024 | 2024-00133566 | |
| 31-12-2022 | full format | 16-06-2023 | 2023-00130900 | |
| 31-12-2021 | full format | 23-06-2022 | 2022-20083675 |