Financials · financial year 2025, micro format
2025 annual accounts filed 72 days after the deadline Filed on 11 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00554398.
Annual accounts 2025 filed on 11-10-2026 at the NBB all 9 filings
Equity
€1.1m▲ 6.2%
2024 · €1.0m
Net result
€62,619▲ 65.1%
2024 · €37,933
Total assets
€1.8m▲ 19.3%
2024 · €1.5m
Solvency
61.5%▼ 7.6pp
2024 · 69.0%
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is 99% higher than in 2024 and the highest since 2021. It is a recovery after the fall in 2024.
Operating result€0.1m
2025
Net result€0.06m
2025
Total assets€1.8m
2025
Equity€1.1m
2025
Debt€0.7m
2025
Working capital-€0.2m
2025
Return on assets (ROA)3.6%
2025
Solvency61.5%
2025
Current ratio0.53
2025
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.04m-€0.05m▲ 25.8%€0.1m▲ 172%€0.1m▼ 6.8%€0.1m▲ 14.4%€0.1m▼ 15.4%€0.07m▼ 39.6%€0.1m▲ 99.4%
Net result€0.09m-€0.01m▼ 85.6%€0.1mabove the sector's middle half▲ 859%€0.2mabove the sector's middle half▲ 26.2%€0.09mabove the sector's middle half▼ 44.5%€0.3mabove the sector's middle half▲ 196%€0.04mwithin the sector's middle half▼ 85.5%€0.06mwithin the sector's middle half▲ 65.1%
Equity€0.5m-€0.5m▲ 2.6%€0.5mabove the sector's middle half▲ 5.0%€0.6mabove the sector's middle half▲ 17.1%€0.7mabove the sector's middle half▲ 12.7%€1.0mabove the sector's middle half▲ 36.4%€1.0mabove the sector's middle half▲ 3.9%€1.1mabove the sector's middle half▲ 6.2%
Total assets€1.7m-€1.6m▼ 3.3%€1.6mabove the sector's middle half▲ 1.1%€1.6mabove the sector's middle half▼ 4.4%€1.5mabove the sector's middle half▼ 6.4%€1.4mabove the sector's middle half▼ 1.4%€1.5mabove the sector's middle half▲ 1.6%€1.8mabove the sector's middle half▲ 19.3%
Debt€1.2m-€1.1m▼ 5.9%€1.1m▼ 0.7%€0.9m▼ 15.0%€0.8m▼ 19.4%€0.5m▼ 37.5%€0.5m▼ 3.1%€0.7m▲ 48.5%
Working capital-€0.3m--€0.5m▼ 42.8%-€0.5mbelow the sector's middle half▼ 17.5%-€0.6mbelow the sector's middle half▼ 13.0%-€0.7mbelow the sector's middle half▼ 10.4%-€0.4mbelow the sector's middle half▲ 44.5%-€0.3mbelow the sector's middle half▲ 21.4%-€0.2mbelow the sector's middle half▲ 43.1%
Solvency30.0%-31.9%▲ 1.8pp33.1%within the sector's middle half▲ 1.2pp40.6%within the sector's middle half▲ 7.4pp48.8%within the sector's middle half▲ 8.3pp67.5%within the sector's middle half▲ 18.7pp69.0%within the sector's middle half▲ 1.5pp61.5%within the sector's middle half▼ 7.6pp
Current ratio0.14-0.11▼ 0.030.19below the sector's middle half▲ 0.080.15below the sector's middle half▼ 0.040.08below the sector's middle half▼ 0.070.20below the sector's middle half▲ 0.120.34below the sector's middle half▲ 0.140.53below the sector's middle half▲ 0.19
Return on assets (ROA)5.4%-0.8%▼ 4.6pp7.7%within the sector's middle half▲ 6.9pp10.1%within the sector's middle half▲ 2.5pp6.0%within the sector's middle half▼ 4.1pp18.0%within the sector's middle half▲ 12.0pp2.6%within the sector's middle half▼ 15.4pp3.6%within the sector's middle half▲ 1.0pp
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.
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 €1.8m
Fixed assets
€1.6m ▲ 18.4%
Current assets
€186,837 ▲ 26.5%
Equity and liabilities €1.8m
Equity
€1.1m ▲ 6.2%
Debt
€676,197 ▲ 48.5%
Debt's share of the balance-sheet total rises from 31.0% to 38.5%. Equity and debt are higher.
Key figures and ratios
ROE
5.8%▲
2024 · 3.7%
Debt ≤ 1 year
€351,235▼
2024 · €436,331
Debt > 1 year
€324,961▲
2024 · €19,168
Income taxes
€68,130▲
2024 · €31,185
Staff costs
€616,818▲
2024 · €133,428
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 | - | €1,020 | - | €45,317 | €421,989 |
| Intangible fixed assets | - | - | - | - | €1.7m |
| Financial fixed assets | - | - | - | - | €7,236 |
| Depreciation and write-downs of the year | €53,950 | €54,111 | €54,205 | €57,295 | €166,979 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €121,376 | €127,788 | €116,270 | €133,428 | €616,818 | ▲ 362% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €59,653 | €59,053 | €53,950 | €53,950 | €54,111 | €54,205 | €57,295 | €166,979 | ▲ 191% |
| Other operating charges640/8 | - | - | - | €14,716 | €22,237 | €24,893 | €43,748 | €51,449 | ▲ 17.6% |
| Non-recurring operating charges66A | - | - | - | €335 | €1,305 | - | €3,552 | €5,671 | ▲ 59.7% |
| Gross operating margin9900 | €215,976 | €238,869 | €324,209 | €310,326 | €342,691 | €311,533 | €308,149 | €980,739 | ▲ 218% |
| Operating profit (loss)9901 | €37,665 | €47,382 | €128,710 | €119,949 | €137,250 | €116,165 | €70,126 | €139,822 | ▲ 99.4% |
| Financial income75/76B | - | - | - | €85,000 | €0 | €212,000 | €3,518 | €11 | ▼ 99.7% |
| Recurring financial income75 | €86,877 | - | €49,720 | €85,000 | €0 | €212,000 | €3,518 | €11 | ▼ 99.7% |
| Financial charges65/66B | - | - | - | €15,532 | €12,352 | €6,850 | €4,526 | €9,083 | ▲ 101% |
| Recurring financial charges65 | €29,001 | €24,456 | €20,109 | €15,532 | €12,352 | €6,850 | €4,526 | €9,083 | ▲ 101% |
| Profit (loss) for the period before taxes9903 | €95,541 | €22,926 | €158,322 | €189,418 | €124,897 | €321,314 | €69,118 | €130,749 | ▲ 89.2% |
| Income taxes67/77 | €4,549 | €9,825 | €32,632 | €30,782 | €36,857 | €60,509 | €31,185 | €68,130 | ▲ 118% |
| Profit (loss) for the period9904 | €90,992 | €13,101 | €125,690 | €158,636 | €88,040 | €260,806 | €37,933 | €62,619 | ▲ 65.1% |
| Profit (loss) for the period to be appropriated9905 | €90,992 | €13,101 | €125,690 | €158,636 | €88,040 | €260,806 | €37,933 | €62,619 | ▲ 65.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.7m | €1.6m | €1.6m | €1.6m | €1.5m | €1.4m | €1.5m | €1.8m | ▲ 19.3% |
| Fixed assets21/28 | €1.6m | €1.6m | €1.5m | €1.5m | €1.4m | €1.4m | €1.3m | €1.6m | ▲ 18.4% |
| Intangible fixed assets21 | €0.4m | €0.4m | €0.3m | €0.3m | €0.2m | €0.2m | €0.1m | €1.3m | ▲ 12× |
| Tangible fixed assets22/27 | €0.005m | - | - | - | €0.001m | €0.001m | €0.02m | €0.3m | ▲ 976% |
| Land and buildings22 | - | - | - | - | - | - | - | €0.1m | - |
| Plant, machinery and equipment23 | - | - | - | - | €0.001m | €0.001m | €349 | €94 | ▼ 73.0% |
| Furniture and vehicles24 | - | - | - | - | - | - | €0.02m | €0.1m | ▲ 318% |
| Other tangible fixed assets26 | - | - | - | - | - | - | - | €0.02m | - |
| Financial fixed assets28 | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | €0.007m | ▼ 99.4% |
| Current assets29/58 | €0.05m | €0.05m | €0.1m | €0.1m | €0.06m | €0.09m | €0.1m | €0.2m | ▲ 26.5% |
| Amounts receivable after more than one year29 | - | - | - | €0.06m | €0.006m | - | - | - | - |
| Other amounts receivable291 | - | - | - | €0.06m | €0.006m | - | - | - | - |
| Amounts receivable within one year40/41 | €0.004m | €0.002m | €0.01m | €0.02m | €0.03m | €0.06m | €0.1m | €0.08m | ▼ 43.1% |
| Trade receivables40 | - | - | - | €0.02m | €0.03m | €0.03m | €0.05m | €0.08m | ▲ 46.9% |
| Other amounts receivable41 | - | - | - | - | - | €0.03m | €0.09m | - | - |
| Cash at bank and in hand54/58 | €0.05m | €0.02m | €0.03m | €0.03m | €0.03m | €0.03m | €0.007m | €0.1m | ▲ 14× |
| Deferred charges and accrued income490/1 | - | - | - | - | €181 | €486 | €0.001m | €0.005m | ▲ 733% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.7m | €1.6m | €1.6m | €1.6m | €1.5m | €1.4m | €1.5m | €1.8m | ▲ 19.3% |
| Equity10/15 | €0.5m | €0.5m | €0.5m | €0.6m | €0.7m | €1.0m | €1.0m | €1.1m | ▲ 6.2% |
| Contributions10/11 | €0.2m | €0.2m | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Reserves13 | €0.3m | €0.3m | €0.3m | €0.4m | €0.5m | €0.8m | €0.8m | €0.9m | ▲ 7.8% |
| Non-distributable reserves130/1 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves not available under the articles1311 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Distributable reserves133 | - | - | - | €0.4m | €0.5m | €0.7m | €0.8m | €0.8m | ▲ 8.0% |
| Profit (loss) carried forward14 | €0.004m | €0.007m | €0.003m | €0.005m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Amounts payable17/49 | €1.2m | €1.1m | €1.1m | €0.9m | €0.8m | €0.5m | €0.5m | €0.7m | ▲ 48.5% |
| Amounts payable after more than one year17 | €0.8m | €0.6m | €0.4m | €0.2m | €0.03m | €0.009m | €0.02m | €0.3m | ▲ 17× |
| Financial debts170/4 | - | - | - | €0.2m | €0.03m | €0.009m | €0.02m | €0.3m | ▲ 17× |
| Amounts payable within one year42/48 | €0.4m | €0.5m | €0.7m | €0.7m | €0.7m | €0.5m | €0.4m | €0.4m | ▼ 19.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.2m | €0.2m | €0.05m | €0.01m | €0.05m | ▲ 237% |
| Financial debts43 | - | - | - | - | - | - | - | €20 | - |
| Credit institutions430/8 | - | - | - | - | - | - | - | €20 | - |
| Trade debts44 | €0.005m | €0.02m | €0.01m | €0.02m | €0.03m | €0.01m | €0.01m | €0.05m | ▲ 240% |
| Suppliers440/4 | - | - | - | €0.02m | €0.03m | €0.01m | €0.01m | €0.05m | ▲ 240% |
| Taxes, remuneration and social security45 | - | - | - | €0.08m | €0.09m | €0.1m | €0.1m | €0.2m | ▲ 102% |
| Taxes450/3 | - | - | - | €0.07m | €0.08m | €0.1m | €0.09m | €0.1m | ▲ 47.4% |
| Remuneration and social security454/9 | - | - | - | €0.02m | €0.009m | €0.02m | €0.02m | €0.09m | ▲ 327% |
| Other amounts payable47/48 | - | - | - | €0.4m | €0.4m | €0.3m | €0.3m | €0.03m | ▼ 90.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €90,992 | €13,101 | €125,690 | €158,636 | €88,040 | €260,806 | €37,933 | €62,619 | ▲ 65.1% |
| + Depreciation and write-downs630 | €59,653 | €59,053 | €53,950 | €53,950 | €54,111 | €54,205 | €57,295 | €166,979 | ▲ 191% |
| Operating cash flow (approximation) | €150,645 | €72,154 | €179,640 | €212,586 | €142,151 | €315,011 | €95,228 | €229,598 | ▲ 141% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€1,020 | €0 | -€26,676 | -€411,118 | ▼ 1,441% |
| Change in cash | - | -€26,287 | €7,059 | €3,348 | -€4,260 | €1,372 | -€20,871 | €94,784 | - |
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 | 11-10-2026 | 2026-00554398 | |
| 31-12-2024 | micro format | 01-10-2025 | 2025-00527051 | |
| 31-12-2023 | micro format | 09-10-2024 | 2024-00505481 | |
| 31-12-2022 | micro format | 26-09-2023 | 2023-00470488 | |
| 31-12-2021 | micro format | 01-02-2023 | 2023-00023996 | |
| 31-12-2020 | micro format | 24-12-2021 | 2021-81600507 | |
| 31-12-2019 | micro format | 25-11-2020 | 2020-73100286 | |
| 31-12-2018 | micro format | 12-12-2019 | 2019-76000077 | |
| 31-12-2017 | micro format | 15-05-2019 | 2019-13300258 |