Financials · financial year 2025, micro format
Annual accounts 2025 filed on 28-03-2026 PDF all 6 filings
Equity
€106,242▼ 12.1%
2024 · €120,799
Net result
-€12,890
2024 · €34,772
Total assets
€149,266▼ 16.3%
2024 · €178,357
Solvency
71.2%▲ 3.4pp
2024 · 67.7%
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
-€14,768
2025
20202025
Net result
-€12,890
2025
lowest quarter of the sector
20202025
Equity
€106,242
▼ 12.1%
2025
middle half of the sector
20202025
Total assets
€149,266
▼ 16.3%
2025
middle half of the sector
20202025
Debt
€43,024
▼ 25.3%
2025
20202025
Working capital
€80,997
▼ 14.9%
2025
middle half of the sector
20202025
Solvency
71.2%
▲ 3.4pp
2025
middle half of the sector
20202025
Current ratio
2.88
▲ 0.23
2025
middle half of the sector
20202025
Return on assets (ROA)
-8.6%
▼ 28.1pp
2025
lowest quarter of the sector
20202025
Staff (FTE)
no figure
2025
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€27,483-€34,112▲ 24.1%€39,238▲ 15.0%€14,863▼ 62.1%€50,304▲ 238%-€14,768
Net result€19,976within the sector's middle half-€28,701within the sector's middle half▲ 43.7%€28,217within the sector's middle half▼ 1.7%€7,550within the sector's middle half▼ 73.2%€34,772within the sector's middle half▲ 361%-€12,890below the sector's middle half
Equity€24,576below the sector's middle half-€39,677below the sector's middle half▲ 61.4%€80,194within the sector's middle half▲ 102%€87,745within the sector's middle half▲ 9.4%€120,799within the sector's middle half▲ 37.7%€106,242within the sector's middle half▼ 12.1%
Total assets€102,177below the sector's middle half-€117,046below the sector's middle half▲ 14.6%€129,026within the sector's middle half▲ 10.2%€167,141within the sector's middle half▲ 29.5%€178,357within the sector's middle half▲ 6.7%€149,266within the sector's middle half▼ 16.3%
Debt€77,601-€77,370▼ 0.3%€48,831▼ 36.9%€79,397▲ 62.6%€57,559▼ 27.5%€43,024▼ 25.3%
Working capital€8,168within the sector's middle half-€6,059within the sector's middle half▼ 25.8%€48,477within the sector's middle half▲ 700%€60,070within the sector's middle half▲ 23.9%€95,188within the sector's middle half▲ 58.5%€80,997within the sector's middle half▼ 14.9%
Solvency24.1%within the sector's middle half-33.9%within the sector's middle half▲ 9.8pp62.2%within the sector's middle half▲ 28.3pp52.5%within the sector's middle half▼ 9.7pp67.7%within the sector's middle half▲ 15.2pp71.2%within the sector's middle half▲ 3.4pp
Current ratio1.22within the sector's middle half-1.12within the sector's middle half▼ 0.112.30within the sector's middle half▲ 1.191.76within the sector's middle half▼ 0.552.65within the sector's middle half▲ 0.902.88within the sector's middle half▲ 0.23
Return on assets (ROA)19.6%within the sector's middle half-24.5%above the sector's middle half▲ 5.0pp21.9%within the sector's middle half▼ 2.7pp4.5%within the sector's middle half▼ 17.4pp19.5%within the sector's middle half▲ 15.0pp-8.6%below the sector's middle half▼ 28.1pp
Staff (FTE)0.6within the sector's middle half-
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 loss of €14,768, after a profit of €50,304 in 2024. It is the lowest result since 2021.
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
Assets €149,266
Fixed assets
€25,245 ▼ 1.4%
Current assets
€124,021 ▼ 18.8%
Equity and liabilities €149,266
Equity
€106,242 ▼ 12.1%
Debt
€43,024 ▼ 25.3%
Debt's share of the balance-sheet total falls from 32.3% to 28.8%. Equity and debt are lower.
Key figures and ratios
ROE
-12.1%▼
2024 · 28.8%
Debt ≤ 1 year
€43,024▼
2024 · €57,559
Income taxes
€13▼
2024 · €15,833
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €19,730 | €12,941 | €1,379 | - | €1,707 |
| Depreciation and write-downs of the year | €17,919 | €16,483 | €17,092 | €2,063 | €2,072 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €2,420 awarded · €2,420 paidAnnual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €68 | -€153 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €30,704 | €17,919 | €16,483 | €17,092 | €2,063 | €2,072 | ▲ 0.4% |
| Other operating charges640/8 | - | €1,952 | €2,018 | €2,508 | €2,235 | €2,186 | ▼ 2.2% |
| Gross operating margin9900 | €123,192 | €54,050 | €57,585 | €34,463 | €54,603 | -€10,510 | - |
| Operating profit (loss)9901 | €27,483 | €34,112 | €39,238 | €14,863 | €50,304 | -€14,768 | - |
| Financial income75/76B | - | €3,194 | €1,767 | €2,050 | €4,146 | €4,907 | ▲ 18.4% |
| Recurring financial income75 | €1,754 | €3,194 | €1,767 | €2,050 | €4,146 | €4,907 | ▲ 18.4% |
| Financial charges65/66B | - | €579 | €612 | €1,834 | €3,845 | €3,015 | ▼ 21.6% |
| Recurring financial charges65 | €1,211 | €579 | €612 | €1,834 | €3,845 | €3,015 | ▼ 21.6% |
| Profit (loss) for the period before taxes9903 | €28,026 | €36,727 | €40,392 | €15,078 | €50,605 | -€12,877 | - |
| Income taxes67/77 | €8,050 | €8,026 | €12,175 | €7,528 | €15,833 | €13 | ▼ 99.9% |
| Profit (loss) for the period9904 | €19,976 | €28,701 | €28,217 | €7,550 | €34,772 | -€12,890 | - |
| Profit (loss) for the period to be appropriated9905 | €19,976 | €28,701 | €28,217 | €7,550 | €34,772 | -€12,890 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €102,177 | €117,046 | €129,026 | €167,141 | €178,357 | €149,266 | ▼ 16.3% |
| Formation expenses20 | €1,459 | €972 | €486 | €0 | €0 | €0 | - |
| Fixed assets21/28 | €56,066 | €58,363 | €42,901 | €27,674 | €25,611 | €25,245 | ▼ 1.4% |
| Tangible fixed assets22/27 | €56,066 | €58,363 | €42,901 | €27,674 | €25,611 | €25,245 | ▼ 1.4% |
| Plant, machinery and equipment23 | - | €11,343 | €10,729 | €10,115 | €9,501 | €8,887 | ▼ 6.5% |
| Furniture and vehicles24 | - | €41,811 | €16,426 | €2,634 | €2,005 | €1,376 | ▼ 31.4% |
| Other tangible fixed assets26 | - | €5,208 | €15,746 | €14,926 | €14,105 | €14,983 | ▲ 6.2% |
| Current assets29/58 | €44,652 | €57,712 | €85,638 | €139,467 | €152,746 | €124,021 | ▼ 18.8% |
| Stocks and contracts in progress3 | - | €2,354 | €31,293 | €39,354 | €38,875 | €11,682 | ▼ 69.9% |
| Stocks30/36 | - | €2,354 | €31,293 | €39,354 | €38,875 | €11,682 | ▼ 69.9% |
| Amounts receivable within one year40/41 | €41,776 | €45,913 | €47,593 | €88,826 | €111,206 | €105,271 | ▼ 5.3% |
| Trade receivables40 | - | €10,763 | €33,382 | €35,405 | €28,895 | €7,607 | ▼ 73.7% |
| Other amounts receivable41 | - | €35,151 | €14,211 | €53,421 | €82,311 | €97,664 | ▲ 18.7% |
| Cash at bank and in hand54/58 | €2,568 | €8,006 | €5,781 | €10,067 | €902 | €5,891 | ▲ 553% |
| Deferred charges and accrued income490/1 | - | €1,438 | €972 | €1,220 | €1,764 | €1,176 | ▼ 33.3% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €102,177 | €117,046 | €129,026 | €167,141 | €178,357 | €149,266 | ▼ 16.3% |
| Equity10/15 | €24,576 | €39,677 | €80,194 | €87,745 | €120,799 | €106,242 | ▼ 12.1% |
| Contributions10/11 | - | €6,200 | €18,500 | €18,500 | €18,500 | €18,500 | = |
| Contributions outside capital11 | - | €6,200 | - | - | - | - | - |
| Other1109/19 | - | €6,200 | - | - | - | - | - |
| Reserves13 | €999 | €999 | €1,850 | €1,850 | €1,850 | €1,850 | = |
| Non-distributable reserves130/1 | - | €999 | €1,850 | - | - | - | - |
| Legal reserve130 | - | €999 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €1,850 | - | - | - | - |
| Distributable reserves133 | - | - | - | €1,850 | €1,850 | €1,850 | = |
| Profit (loss) carried forward14 | €17,377 | €32,478 | €59,844 | €67,395 | €100,449 | €85,892 | ▼ 14.5% |
| Amounts payable17/49 | €77,601 | €77,370 | €48,831 | €79,397 | €57,559 | €43,024 | ▼ 25.3% |
| Amounts payable after more than one year17 | €40,671 | €25,540 | €10,264 | - | - | - | - |
| Financial debts170/4 | - | €25,540 | €10,264 | - | - | - | - |
| Amounts payable within one year42/48 | €36,485 | €51,652 | €37,162 | €79,397 | €57,559 | €43,024 | ▼ 25.3% |
| Current portion of amounts payable after more than one year42 | - | €15,131 | €15,275 | €30,347 | - | - | - |
| Financial debts43 | - | - | - | - | €20,320 | €20,468 | ▲ 0.7% |
| Credit institutions430/8 | - | - | - | - | €20,320 | €20,468 | ▲ 0.7% |
| Trade debts44 | €50 | €6,312 | €1,332 | €32,308 | €12,769 | €6,553 | ▼ 48.7% |
| Suppliers440/4 | - | €6,312 | €1,332 | €32,308 | €12,769 | €6,553 | ▼ 48.7% |
| Taxes, remuneration and social security45 | - | €16,610 | €20,554 | €16,742 | €22,753 | €14,337 | ▼ 37.0% |
| Taxes450/3 | - | €16,610 | €20,554 | €16,742 | €22,753 | €14,337 | ▼ 37.0% |
| Other amounts payable47/48 | - | €13,600 | - | - | €1,718 | €1,666 | ▼ 3.0% |
| Accrued charges and deferred income492/3 | - | €178 | €1,405 | - | - | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €19,976 | €28,701 | €28,217 | €7,550 | €34,772 | -€12,890 | - |
| + Depreciation and write-downs630 | €30,704 | €17,919 | €16,483 | €17,092 | €2,063 | €2,072 | ▲ 0.4% |
| Operating cash flow (approximation) | €50,679 | €46,621 | €44,701 | €24,643 | €36,835 | -€10,818 | - |
| Investment in fixed assets (approximation) | - | -€20,216 | -€1,022 | -€1,865 | €0 | -€1,707 | - |
| Change in cash | - | €5,438 | -€2,226 | €4,286 | -€9,165 | €4,989 | - |
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 (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 28-03-2026 | 2026-00064889 | |
| 30-09-2024 | micro format | 12-06-2025 | 2025-00152722 | |
| 30-09-2023 | micro format | 19-07-2024 | 2024-00268900 | |
| 30-09-2022 | micro format | 19-04-2023 | 2023-00061271 | |
| 30-09-2021 | micro format | 04-04-2022 | 2022-20001022 | |
| 30-09-2020 | micro format | 27-04-2021 | 2021-11400094 |