Financials · financial year 2025, micro format
Annual accounts 2025 filed on 02-07-2026 at the NBB all 3 filings
Equity
€61,993▲ 10.0%
2024 · €56,366
Net result
€5,627▼ 85.7%
2024 · €39,265
Total assets
€79,533▲ 1.9%
2024 · €78,045
Solvency
77.9%▲ 5.7pp
2024 · 72.2%
Multi-year overview
2023 to 2025, 3 financial yearsOperating result
€7,722
▼ 84.5%
2025
20232025
Net result
€5,627
▼ 85.7%
2025
middle half of the sector
20232025
Equity
€61,993
▲ 10.0%
2025
middle half of the sector
20232025
Total assets
€79,533
▲ 1.9%
2025
lowest quarter of the sector
20232025
Debt
€17,540
▼ 19.1%
2025
20232025
Working capital
€60,584
▲ 12.2%
2025
middle half of the sector
20232025
Solvency
77.9%
▲ 5.7pp
2025
highest quarter of the sector
20232025
Current ratio
4.45
▲ 0.96
2025
highest quarter of the sector
20232025
Return on assets (ROA)
7.1%
▼ 43.2pp
2025
middle half of the sector
20232025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202320242025
Operating result€20,411-€49,878▲ 144%€7,722▼ 84.5%
Net result€16,101within the sector's middle half-€39,265within the sector's middle half▲ 144%€5,627within the sector's middle half▼ 85.7%
Equity€17,101below the sector's middle half-€56,366within the sector's middle half▲ 230%€61,993within the sector's middle half▲ 10.0%
Total assets€45,073below the sector's middle half-€78,045below the sector's middle half▲ 73.2%€79,533below the sector's middle half▲ 1.9%
Debt€27,972-€21,679▼ 22.5%€17,540▼ 19.1%
Working capital€13,742within the sector's middle half-€54,009within the sector's middle half▲ 293%€60,584within the sector's middle half▲ 12.2%
Solvency37.9%within the sector's middle half-72.2%within the sector's middle half▲ 34.3pp77.9%above the sector's middle half▲ 5.7pp
Current ratio1.49within the sector's middle half-3.49within the sector's middle half▲ 2.004.45above the sector's middle half▲ 0.96
Return on assets (ROA)35.7%above the sector's middle half-50.3%above the sector's middle half▲ 14.6pp7.1%within the sector's middle half▼ 43.2pp
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 85% lower than in 2024 and the lowest since 2023.
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 €79,533
Fixed assets
€1,409 ▼ 40.2%
Current assets
€78,124 ▲ 3.2%
Equity and liabilities €79,533
Equity
€61,993 ▲ 10.0%
Debt
€17,540 ▼ 19.1%
Debt's share of the balance-sheet total falls from 27.8% to 22.1%. Equity is higher and debt is lower.
Key figures and ratios
ROE
9.1%▼
2024 · 69.7%
Debt ≤ 1 year
€17,540▼
2024 · €21,679
Income taxes
€1,995▼
2024 · €10,124
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | €4,672 | - | - |
| Depreciation and write-downs of the year | €1,312 | €1,003 | €948 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,312 | €1,003 | €948 | ▼ 5.5% |
| Other operating charges640/8 | €522 | €639 | €633 | ▼ 0.9% |
| Gross operating margin9900 | €22,245 | €51,520 | €9,303 | ▼ 81.9% |
| Operating profit (loss)9901 | €20,411 | €49,878 | €7,722 | ▼ 84.5% |
| Financial income75/76B | €7 | - | €0 | - |
| Recurring financial income75 | €7 | - | €0 | - |
| Financial charges65/66B | €41 | €489 | €101 | ▼ 79.4% |
| Recurring financial charges65 | €41 | €489 | €101 | ▼ 79.4% |
| Profit (loss) for the period before taxes9903 | €20,377 | €49,388 | €7,621 | ▼ 84.6% |
| Income taxes67/77 | €4,276 | €10,124 | €1,995 | ▼ 80.3% |
| Profit (loss) for the period9904 | €16,101 | €39,265 | €5,627 | ▼ 85.7% |
| Profit (loss) for the period to be appropriated9905 | €16,101 | €39,265 | €5,627 | ▼ 85.7% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €45,073 | €78,045 | €79,533 | ▲ 1.9% |
| Fixed assets21/28 | €3,359 | €2,357 | €1,409 | ▼ 40.2% |
| Tangible fixed assets22/27 | €3,359 | €2,357 | €1,409 | ▼ 40.2% |
| Plant, machinery and equipment23 | €1,822 | €1,327 | €832 | ▼ 37.3% |
| Furniture and vehicles24 | €1,538 | €1,030 | €577 | ▼ 43.9% |
| Current assets29/58 | €41,714 | €75,689 | €78,124 | ▲ 3.2% |
| Stocks and contracts in progress3 | €1,697 | €1,095 | €1,210 | ▲ 10.5% |
| Stocks30/36 | €1,697 | €1,095 | €1,210 | ▲ 10.5% |
| Amounts receivable within one year40/41 | €12,603 | €12,245 | €33 | ▼ 99.7% |
| Trade receivables40 | €12,603 | €12,245 | - | - |
| Other amounts receivable41 | - | - | €33 | - |
| Cash at bank and in hand54/58 | €27,414 | €61,017 | €75,966 | ▲ 24.5% |
| Deferred charges and accrued income490/1 | - | €1,332 | €915 | ▼ 31.3% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €45,073 | €78,045 | €79,533 | ▲ 1.9% |
| Equity10/15 | €17,101 | €56,366 | €61,993 | ▲ 10.0% |
| Contributions10/11 | €1,000 | €1,000 | €1,000 | = |
| Reserves13 | - | €50,000 | €55,000 | ▲ 10.0% |
| Distributable reserves133 | - | €50,000 | €55,000 | ▲ 10.0% |
| Profit (loss) carried forward14 | €16,101 | €5,366 | €5,993 | ▲ 11.7% |
| Amounts payable17/49 | €27,972 | €21,679 | €17,540 | ▼ 19.1% |
| Amounts payable within one year42/48 | €27,972 | €21,679 | €17,540 | ▼ 19.1% |
| Trade debts44 | €2,542 | €650 | €2,760 | ▲ 324% |
| Suppliers440/4 | €2,542 | €650 | €2,760 | ▲ 324% |
| Advances received on contracts in progress46 | €134 | - | - | - |
| Taxes, remuneration and social security45 | €23,449 | €18,731 | €9,916 | ▼ 47.1% |
| Taxes450/3 | €12,004 | €14,931 | €9,916 | ▼ 33.6% |
| Remuneration and social security454/9 | €11,445 | €3,800 | - | - |
| Other amounts payable47/48 | €1,848 | €2,298 | €4,865 | ▲ 112% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €16,101 | €39,265 | €5,627 | ▼ 85.7% |
| + Depreciation and write-downs630 | €1,312 | €1,003 | €948 | ▼ 5.5% |
| Operating cash flow (approximation) | €17,414 | €40,267 | €6,574 | ▼ 83.7% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - |
| Change in cash | - | €33,603 | €14,949 | ▼ 55.5% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.