Financials · financial year 2026, abbreviated format
Annual accounts 2026 filed on 20-10-2026 at the NBB all 24 filings
Equity
€934,317▼ 20.6%
2025 · €1.2m
Net result
€37,830▼ 78.9%
2025 · €179,149
Total assets
€1.2m▼ 30.0%
2025 · €1.7m
Solvency
80.9%▲ 9.6pp
2025 · 71.3%
In the rankings
#5 oldest company in Tervuren, Finance and insurance sector#9 company by equity in Tervuren, Finance and insurance sector
Multi-year overview
2019 to 2026, 8 financial yearsOperating result
-€12,570
2026
20192026
Net result
€37,830
▼ 78.9%
2026
20192026
Equity
€934,317
▼ 20.6%
2026
20192026
Total assets
€1.2m
▼ 30.0%
2026
20192026
Debt
€220,885
▼ 53.4%
2026
20192026
Working capital
€554,100
▼ 29.2%
2026
20192026
Solvency
80.9%
▲ 9.6pp
2026
20192026
Current ratio
3.52
▲ 0.86
2026
20192026
Return on assets (ROA)
3.3%
▼ 7.6pp
2026
20192026
Staff (FTE)
0
▼ 100%
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result€0.2m-€0.2m▲ 16.4%€0.3m▲ 47.2%€0.3m▲ 2.1%€0.3m▼ 15.3%€0.3m▲ 1.5%€0.3m▼ 7.9%-€0.01m
Net result€0.1m-€0.2m▲ 17.6%€0.2mabove the sector's middle half▲ 53.6%€0.2mabove the sector's middle half▲ 2.0%€0.2mabove the sector's middle half▼ 17.3%€0.2mwithin the sector's middle half▲ 0.4%€0.2mwithin the sector's middle half▼ 8.3%€0.04m▼ 78.9%
Equity€1.1m-€1.2m▲ 4.8%€1.1mwithin the sector's middle half▼ 10.0%€1.2mwithin the sector's middle half▲ 10.5%€1.3mwithin the sector's middle half▲ 6.7%€1.1mwithin the sector's middle half▼ 9.3%€1.2mwithin the sector's middle half▲ 3.0%€0.9m▼ 20.6%
Total assets€1.4m-€1.5m▲ 9.1%€1.6mwithin the sector's middle half▲ 6.5%€1.5mwithin the sector's middle half▼ 8.4%€1.5mwithin the sector's middle half▲ 4.0%€1.6mwithin the sector's middle half▲ 0.2%€1.7mwithin the sector's middle half▲ 6.3%€1.2m▼ 30.0%
Debt€0.3m-€0.3m▲ 27.0%€0.6m▲ 64.3%€0.3m▼ 44.7%€0.3m▼ 6.2%€0.4m▲ 42.0%€0.5m▲ 15.4%€0.2m▼ 53.4%
Working capital€0.8m-€0.9m▲ 5.5%€0.7mabove the sector's middle half▼ 19.6%€0.8mabove the sector's middle half▲ 14.3%€0.9mabove the sector's middle half▲ 8.0%€0.8mabove the sector's middle half▼ 10.8%€0.8mabove the sector's middle half▲ 2.3%€0.6m▼ 29.2%
Solvency80.9%-77.8%▼ 3.1pp65.7%within the sector's middle half▼ 12.1pp79.3%above the sector's middle half▲ 13.6pp81.3%above the sector's middle half▲ 2.0pp73.5%within the sector's middle half▼ 7.8pp71.3%within the sector's middle half▼ 2.3pp80.9%▲ 9.6pp
Current ratio9.06-5.06▼ 3.992.40within the sector's middle half▼ 2.663.79above the sector's middle half▲ 1.393.97above the sector's middle half▲ 0.182.99within the sector's middle half▼ 0.982.65within the sector's middle half▼ 0.343.52▲ 0.86
Return on assets (ROA)9.1%-9.8%▲ 0.7pp14.2%above the sector's middle half▲ 4.3pp15.8%above the sector's middle half▲ 1.6pp12.6%above the sector's middle half▼ 3.2pp12.6%above the sector's middle half=10.9%within the sector's middle half▼ 1.7pp3.3%▼ 7.6pp
Staff (FTE)0.7-2.3▲ 229%2.3within the sector's middle half=3above the sector's middle half▲ 30.4%3.4above the sector's middle half▲ 13.3%4above the sector's middle half▲ 17.6%4.8above the sector's middle half▲ 20.0%0▼ 100%
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 2026 is a loss of €12,570, after a profit of €273,758 in 2025. It is the lowest result since 2022.
Large changes and their cause
- 2026 Net result -79% on 2025. Partial demerger to EA CONSULTANTS, Official Gazette 24-10-2025.
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
2026 in colour, 2025 as the grey bar beneath
Assets €1.2m
Fixed assets
€381,024 ▼ 3.8%
Current assets
€774,178 ▼ 38.3%
Equity and liabilities €1.2m
Equity
€934,317 ▼ 20.6%
Debt
€220,885 ▼ 53.4%
Debt's share of the balance-sheet total falls from 28.7% to 19.1%. Equity and debt are lower.
Key figures and ratios
ROE
4.0%▼
2025 · 15.2%
Debt ≤ 1 year
€220,078▼
2025 · €472,902
Debt > 1 year
€0▼
2025 · €470
Income taxes
€3,783▼
2025 · €85,931
Staff costs
€0▼
2025 · €325,293
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 3 | 3 | 5 | 6 |
| full-time | 3 | 3 | 5 | 5 |
| part-time | - | 0 | 0 | 1 |
| in full-time equivalents | 3 | 3 | 5 | 5.4 |
| Average over the year, in full-time equivalents | 3 | 3.4 | 4 | 4.8 |
| On a permanent contract | 3 | 3 | 5 | 6 |
| Joined | - | 5 | 3 | 5 |
| Left | - | 5 | 1 | 4 |
| Training hours | - | 37 | - | - |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | €4,769 | €15,579 | €14,409 | €20,210 | €82,693 |
| Financial fixed assets | - | - | €10,570 | - | - |
| Depreciation and write-downs of the year | €30,339 | €23,326 | €25,248 | €28,348 | €19,722 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 6 entries · €14,738 awarded · €15,350 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 2 | €9,077 | €9,077 |
| 2024 | 1 | €979 | €1,861 |
| 2023 | 2 | €4,082 | €4,412 |
| 2022 | 1 | €600 | €0 |
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €85 | - |
| Remuneration, social security and pensions62 | - | - | - | €199,751 | €209,863 | €202,284 | €325,293 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €32,065 | €30,897 | €31,474 | €30,339 | €23,326 | €25,248 | €28,348 | €19,722 | ▼ 30.4% |
| Other operating charges640/8 | - | - | - | €7,976 | €8,846 | €9,381 | €9,704 | €18,922 | ▲ 95.0% |
| Gross operating margin9900 | €265,814 | €391,533 | €543,502 | €583,811 | €534,962 | €534,179 | €637,103 | €26,074 | ▼ 95.9% |
| Operating profit (loss)9901 | €197,485 | €229,932 | €338,547 | €345,745 | €292,926 | €297,266 | €273,758 | -€12,570 | - |
| Financial income75/76B | - | - | - | €2,075 | €156 | €4 | €2,748 | €54,877 | ▲ 20× |
| Recurring financial income75 | €2,164 | €2,186 | €2,281 | €2,075 | €156 | €4 | €2,748 | €54,877 | ▲ 20× |
| Financial charges65/66B | - | - | - | €4,627 | €6,106 | €9,910 | €11,427 | €695 | ▼ 93.9% |
| Recurring financial charges65 | €9,773 | €6,194 | €4,508 | €4,627 | €6,106 | €9,910 | €11,427 | €695 | ▼ 93.9% |
| Profit (loss) for the period before taxes9903 | €189,875 | €225,923 | €336,320 | €343,193 | €286,977 | €287,359 | €265,079 | €41,613 | ▼ 84.3% |
| Income taxes67/77 | €62,209 | €75,775 | €105,746 | €107,934 | €92,335 | €91,957 | €85,931 | €3,783 | ▼ 95.6% |
| Profit (loss) for the period9904 | €127,667 | €150,148 | €230,574 | €235,259 | €194,642 | €195,402 | €179,149 | €37,830 | ▼ 78.9% |
| Profit (loss) for the period to be appropriated9905 | €127,667 | €150,148 | €230,574 | €235,259 | €194,642 | €195,402 | €179,149 | €37,830 | ▼ 78.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.4m | €1.5m | €1.6m | €1.5m | €1.5m | €1.6m | €1.7m | €1.2m | ▼ 30.0% |
| Fixed assets21/28 | €0.5m | €0.5m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 3.8% |
| Intangible fixed assets21 | €0.001m | €0.001m | €0.001m | €299 | €0 | - | - | - | - |
| Tangible fixed assets22/27 | €0.5m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 1.2% |
| Land and buildings22 | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | ▼ 2.5% |
| Plant, machinery and equipment23 | - | - | - | €0.004m | €0.01m | €0.01m | €0.008m | €0 | ▼ 100% |
| Furniture and vehicles24 | - | - | - | €0.001m | €0.005m | €0.01m | €0.009m | €0.02m | ▲ 137% |
| Financial fixed assets28 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.01m | €0.01m | €0.001m | ▼ 88.3% |
| Current assets29/58 | €0.9m | €1.1m | €1.2m | €1.1m | €1.1m | €1.1m | €1.3m | €0.8m | ▼ 38.3% |
| Amounts receivable within one year40/41 | €0.6m | €0.8m | €0.7m | €0.7m | €0.8m | €0.8m | €0.8m | €0.6m | ▼ 23.8% |
| Trade receivables40 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.04m | ▼ 82.1% |
| Other amounts receivable41 | - | - | - | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | ▼ 2.5% |
| Current investments50/53 | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | €0.2m | €0.3m | €0.08m | ▼ 70.1% |
| Cash at bank and in hand54/58 | €0.1m | €0.1m | €0.3m | €0.1m | €0.2m | €0.2m | €0.2m | €0.08m | ▼ 54.0% |
| Deferred charges and accrued income490/1 | - | - | - | €0.009m | €0.01m | €0.01m | €0.008m | €0.004m | ▼ 53.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.4m | €1.5m | €1.6m | €1.5m | €1.5m | €1.6m | €1.7m | €1.2m | ▼ 30.0% |
| Equity10/15 | €1.1m | €1.2m | €1.1m | €1.2m | €1.3m | €1.1m | €1.2m | €0.9m | ▼ 20.6% |
| Contributions10/11 | €0.02m | €0.02m | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | ▼ 1.3% |
| Reserves13 | €0.8m | €0.8m | €0.7m | €0.8m | €0.9m | €1.0m | €1.0m | €0.7m | ▼ 24.3% |
| Distributable reserves133 | - | - | - | €0.8m | €0.9m | €1.0m | €1.0m | €0.7m | ▼ 24.3% |
| Profit (loss) carried forward14 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.2m | €0.2m | €0.2m | ▼ 1.3% |
| Amounts payable17/49 | €0.3m | €0.3m | €0.6m | €0.3m | €0.3m | €0.4m | €0.5m | €0.2m | ▼ 53.4% |
| Amounts payable after more than one year17 | €0.2m | €0.1m | €0.06m | €0.02m | €470 | €0.03m | €470 | €0 | ▼ 100% |
| Financial debts170/4 | - | - | - | €0.02m | €0 | €0.03m | €0 | - | - |
| Other amounts payable178/9 | - | - | - | €470 | €470 | €470 | €470 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €0.1m | €0.2m | €0.5m | €0.3m | €0.3m | €0.4m | €0.5m | €0.2m | ▼ 53.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.06m | €0.05m | €0 | €0.03m | €0 | ▼ 100% |
| Trade debts44 | €0.006m | €0.02m | €0.008m | €0.01m | €0.04m | €0.06m | €0.04m | €0.005m | ▼ 88.8% |
| Suppliers440/4 | - | - | - | €0.01m | €0.04m | €0.06m | €0.04m | €0.005m | ▼ 88.8% |
| Taxes, remuneration and social security45 | - | - | - | €0.08m | €0.02m | €0.05m | €0.09m | €0.02m | ▼ 79.9% |
| Taxes450/3 | - | - | - | €0.05m | €0.003m | €0.004m | €0.05m | €0.02m | ▼ 60.3% |
| Remuneration and social security454/9 | - | - | - | €0.03m | €0.02m | €0.05m | €0.04m | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | €0.1m | €0.2m | €0.3m | €0.3m | €0.2m | ▼ 35.5% |
| Accrued charges and deferred income492/3 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €127,667 | €150,148 | €230,574 | €235,259 | €194,642 | €195,402 | €179,149 | €37,830 | ▼ 78.9% |
| + Depreciation and write-downs630 | €32,065 | €30,897 | €31,474 | €30,339 | €23,326 | €25,248 | €28,348 | €19,722 | ▼ 30.4% |
| Operating cash flow (approximation) | €159,732 | €181,045 | €262,048 | €265,598 | €217,968 | €220,650 | €207,497 | €57,552 | ▼ 72.3% |
| Investment in fixed assets (approximation) | - | -€1,867 | -€17,783 | -€4,769 | -€15,579 | -€24,979 | -€20,210 | -€4,765 | ▲ 76.4% |
| Change in cash | - | €11,907 | €174,133 | -€204,887 | €55,771 | -€5,723 | €5,498 | -€92,484 | - |
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 24 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | abbreviated format | 20-10-2026 | 2026-00566458 | |
| 31-03-2025 | abbreviated format | 30-09-2025 | 2025-00523861 | |
| 31-03-2024 | abbreviated format | 30-09-2024 | 2024-00489790 | |
| 31-03-2023 | abbreviated format | 31-10-2023 | 2023-00504618 | |
| 31-03-2022 | abbreviated format | 10-10-2022 | 2022-20456527 | |
| 31-03-2021 | abbreviated format | 12-10-2021 | 2021-71800213 | |
| 31-03-2020 | abbreviated format | 04-09-2020 | 2020-51200407 | |
| 31-03-2019 | abbreviated format | 19-09-2019 | 2019-64800477 | |
| 31-03-2018 | abbreviated format | 20-09-2018 | 2018-63600352 | |
| 31-03-2017 | abbreviated format | 22-09-2017 | 2017-62100343 |