Financials · financial year 2025, micro format
2025 annual accounts filed 26 days after the deadline Filed on 26 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00447647.
Annual accounts 2025 filed on 26-08-2026 at the NBB all 6 filings
Equity
€544,252▲ 43.8%
2024 · €378,401
Net result
€219,204▲ 12.4%
2024 · €194,967
Total assets
€966,504▲ 28.8%
2024 · €750,545
Solvency
56.3%▲ 5.9pp
2024 · 50.4%
Trend over the years
2021 to 2025, 5 financial years 2020 to 2025, 6 financial years
The operating result for 2025 is 9% higher than in 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
Operating result€289,154
2025
Net result€219,204
2025
Total assets€966,504
2025
Equity€544,252
2025
Debt€422,252
2025
Working capital€633,535
2025
Return on assets (ROA)22.7%
2025
Solvency56.3%
2025
Current ratio7.64
2025
Staff (FTE)1.6
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.
Average staff per financial year, in full-time equivalents (FTE).
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, return on assets (ROA) and staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€92,480-€79,759▼ 13.8%€64,532▼ 19.1%€142,926▲ 121%€265,405▲ 85.7%€289,154▲ 8.9%
Net result€70,999above the sector's middle half-€59,817within the sector's middle half▼ 15.7%€49,145within the sector's middle half▼ 17.8%€101,432above the sector's middle half▲ 106%€194,967above the sector's middle half▲ 92.2%€219,204above the sector's middle half▲ 12.4%
Equity€70,099within the sector's middle half-€123,666within the sector's middle half▲ 76.4%€166,561within the sector's middle half▲ 34.7%€223,875within the sector's middle half▲ 34.4%€378,401above the sector's middle half▲ 69.0%€544,252above the sector's middle half▲ 43.8%
Total assets€145,021within the sector's middle half-€209,638within the sector's middle half▲ 44.6%€247,873within the sector's middle half▲ 18.2%€525,519within the sector's middle half▲ 112%€750,545above the sector's middle half▲ 42.8%€966,504above the sector's middle half▲ 28.8%
Debt€74,922-€85,972▲ 14.7%€81,312▼ 5.4%€301,643▲ 271%€372,144▲ 23.4%€422,252▲ 13.5%
Working capital€60,247within the sector's middle half-€93,765within the sector's middle half▲ 55.6%€121,847within the sector's middle half▲ 29.9%€385,456above the sector's middle half▲ 216%€472,150above the sector's middle half▲ 22.5%€633,535above the sector's middle half▲ 34.2%
Solvency48.3%within the sector's middle half-59.0%within the sector's middle half▲ 10.7pp67.2%within the sector's middle half▲ 8.2pp42.6%within the sector's middle half▼ 24.6pp50.4%within the sector's middle half▲ 7.8pp56.3%within the sector's middle half▲ 5.9pp
Current ratio2.60within the sector's middle half-2.54within the sector's middle half▼ 0.062.87within the sector's middle half▲ 0.335.19above the sector's middle half▲ 2.334.19above the sector's middle half▼ 1.017.64above the sector's middle half▲ 3.45
Return on assets (ROA)49.0%above the sector's middle half-28.5%above the sector's middle half▼ 20.4pp19.8%above the sector's middle half▼ 8.7pp19.3%above the sector's middle half▼ 0.5pp26.0%above the sector's middle half▲ 6.7pp22.7%within the sector's middle half▼ 3.3pp
Staff (FTE)0.2below the sector's middle half-1▲ 400%1=1=1=1.6▲ 60.0%
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.
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 €966,504
Fixed assets
€237,571 ▲ 82.5%
Current assets
€728,933 ▲ 17.5%
Equity and liabilities €966,504
Equity
€544,252 ▲ 43.8%
Debt
€422,252 ▲ 13.5%
Debt's share of the balance-sheet total falls from 49.6% to 43.7%. Equity and debt are higher.
Key figures and ratios
ROE
40.3%▼
2024 · 51.5%
Debt ≤ 1 year
€95,398▼
2024 · €148,183
Income taxes
€76,004▲
2024 · €70,736
Staff costs
€66,620▲
2024 · €45,354
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 1 | 2 |
| full-time | - | 1 | 1 | 1 | 2 |
| part-time | 1 | - | - | - | - |
| in full-time equivalents | 0.9 | 1 | 1 | 1 | 2 |
| Average over the year, in full-time equivalents | 0.9 | 1 | 1 | 1 | 1.6 |
| On a permanent contract | 1 | 1 | 1 | 1 | 2 |
| Joined | - | - | - | - | 1 |
| Left | - | - | - | - | 0 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €20,595 | €19,620 | €4,836 | €125,659 | €146,257 |
| Depreciation and write-downs of the year | €12,608 | €13,842 | €17,502 | €28,400 | €38,897 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €8,400 | €559 | ▼ 93.3% |
| Remuneration, social security and pensions62 | - | €30,088 | €39,992 | €42,767 | €45,354 | €66,620 | ▲ 46.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,955 | €12,608 | €13,842 | €17,502 | €28,400 | €38,897 | ▲ 37.0% |
| Other operating charges640/8 | - | €492 | €1,012 | €865 | €4,746 | €2,100 | ▼ 55.8% |
| Non-recurring operating charges66A | - | - | - | - | - | €1,131 | - |
| Gross operating margin9900 | €106,686 | €122,947 | €119,378 | €204,061 | €343,905 | €397,902 | ▲ 15.7% |
| Operating profit (loss)9901 | €92,480 | €79,759 | €64,532 | €142,926 | €265,405 | €289,154 | ▲ 8.9% |
| Financial income75/76B | - | €121 | €1,950 | €0 | €771 | €6,395 | ▲ 730% |
| Recurring financial income75 | - | €121 | €0 | €0 | €0 | €6,395 | ▲ 639,526× |
| Non-recurring financial income76B | - | - | €1,950 | - | €770 | - | - |
| Financial charges65/66B | - | €1,833 | €658 | €473 | €472 | €340 | ▼ 27.9% |
| Recurring financial charges65 | €776 | €1,833 | €658 | €473 | €472 | €340 | ▼ 27.9% |
| Profit (loss) for the period before taxes9903 | €91,704 | €78,047 | €65,824 | €142,453 | €265,703 | €295,208 | ▲ 11.1% |
| Income taxes67/77 | €20,705 | €18,230 | €16,678 | €41,021 | €70,736 | €76,004 | ▲ 7.4% |
| Profit (loss) for the period9904 | €70,999 | €59,817 | €49,145 | €101,432 | €194,967 | €219,204 | ▲ 12.4% |
| Profit (loss) for the period to be appropriated9905 | €70,999 | €59,817 | €49,145 | €101,432 | €194,967 | €219,204 | ▲ 12.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €145,021 | €209,638 | €247,873 | €525,519 | €750,545 | €966,504 | ▲ 28.8% |
| Fixed assets21/28 | €47,055 | €55,041 | €60,818 | €48,152 | €130,211 | €237,571 | ▲ 82.5% |
| Tangible fixed assets22/27 | €47,055 | €55,041 | €60,818 | €48,152 | €130,211 | €237,571 | ▲ 82.5% |
| Furniture and vehicles24 | - | €55,041 | €59,660 | €48,152 | €88,763 | €174,460 | ▲ 96.5% |
| Other tangible fixed assets26 | - | - | - | - | €23,707 | €62,261 | ▲ 163% |
| Assets under construction and advance payments27 | - | - | €1,159 | - | €17,742 | €850 | ▼ 95.2% |
| Current assets29/58 | €97,966 | €154,596 | €187,055 | €477,366 | €620,334 | €728,933 | ▲ 17.5% |
| Amounts receivable after more than one year29 | - | - | - | - | - | €896 | - |
| Trade receivables290 | - | - | - | - | - | €896 | - |
| Amounts receivable within one year40/41 | €934 | €14,097 | €1,601 | €154,129 | €138,206 | €214,128 | ▲ 54.9% |
| Trade receivables40 | - | €6,326 | €414 | €146,672 | €137,015 | €214,070 | ▲ 56.2% |
| Other amounts receivable41 | - | €7,771 | €1,187 | €7,457 | €1,191 | €59 | ▼ 95.1% |
| Current investments50/53 | - | - | - | - | €250,000 | - | - |
| Cash at bank and in hand54/58 | €83,372 | €133,571 | €175,359 | €304,729 | €134,413 | €424,724 | ▲ 216% |
| Deferred charges and accrued income490/1 | - | €6,929 | €10,094 | €18,508 | €97,714 | €89,184 | ▼ 8.7% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €145,021 | €209,638 | €247,873 | €525,519 | €750,545 | €966,504 | ▲ 28.8% |
| Equity10/15 | €70,099 | €123,666 | €166,561 | €223,875 | €378,401 | €544,252 | ▲ 43.8% |
| Contributions10/11 | - | €100 | €100 | €100 | €100 | €100 | = |
| Reserves13 | €20,000 | €40,000 | €60,000 | €117,200 | €117,200 | €117,200 | = |
| Distributable reserves133 | - | €40,000 | €60,000 | €117,200 | €117,200 | €117,200 | = |
| Profit (loss) carried forward14 | €49,999 | €83,566 | €106,461 | €106,575 | €261,101 | €426,952 | ▲ 63.5% |
| Amounts payable17/49 | €74,922 | €85,972 | €81,312 | €301,643 | €372,144 | €422,252 | ▲ 13.5% |
| Amounts payable after more than one year17 | €34,039 | €25,133 | €16,104 | €6,949 | - | - | - |
| Financial debts170/4 | - | €25,133 | €16,104 | €6,949 | - | - | - |
| Amounts payable within one year42/48 | €37,719 | €60,831 | €65,208 | €91,910 | €148,183 | €95,398 | ▼ 35.6% |
| Current portion of amounts payable after more than one year42 | - | €8,906 | €9,029 | €9,155 | - | - | - |
| Trade debts44 | €5,055 | €24,154 | €5,357 | €4,870 | €63,979 | €1,030 | ▼ 98.4% |
| Suppliers440/4 | - | €24,154 | €5,357 | €4,870 | €63,979 | €1,030 | ▼ 98.4% |
| Taxes, remuneration and social security45 | - | €22,522 | €45,072 | €39,061 | €48,617 | €48,697 | ▲ 0.2% |
| Taxes450/3 | - | €18,856 | €37,110 | €34,835 | €48,032 | €48,697 | ▲ 1.4% |
| Remuneration and social security454/9 | - | €3,666 | €7,962 | €4,226 | €585 | - | - |
| Other amounts payable47/48 | - | €5,250 | €5,750 | €38,824 | €35,588 | €45,671 | ▲ 28.3% |
| Accrued charges and deferred income492/3 | - | €7 | - | €202,784 | €223,960 | €326,854 | ▲ 45.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €70,999 | €59,817 | €49,145 | €101,432 | €194,967 | €219,204 | ▲ 12.4% |
| + Depreciation and write-downs630 | €3,955 | €12,608 | €13,842 | €17,502 | €28,400 | €38,897 | ▲ 37.0% |
| Operating cash flow (approximation) | €74,954 | €72,425 | €62,988 | €118,934 | €223,367 | €258,101 | ▲ 15.6% |
| Investment in fixed assets (approximation) | - | -€20,595 | -€19,620 | -€4,836 | -€110,459 | -€146,257 | ▼ 32.4% |
| Change in cash | - | €50,199 | €41,788 | €129,370 | -€170,316 | €290,311 | - |
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 |
|---|---|---|---|---|
| 31-12-2025 | micro format | 26-08-2026 | 2026-00447647 | |
| 31-12-2024 | micro format | 25-09-2025 | 2025-00504106 | |
| 31-12-2023 | micro format | 31-07-2024 | 2024-00320891 | |
| 31-12-2022 | micro format | 19-07-2023 | 2023-00249941 | |
| 31-12-2021 | micro format | 30-08-2022 | 2022-20367178 | |
| 31-12-2020 | micro format | 28-09-2021 | 2021-68700448 |