Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 03-07-2026 at the NBB all 6 filings
Equity
€319,583▲ 36.8%
2024 · €233,590
Net result
€145,993▲ 26.4%
2024 · €115,525
Total assets
€1.8m▲ 13.7%
2024 · €1.6m
Solvency
17.3%▲ 2.9pp
2024 · 14.4%
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
€213,747
▲ 14.7%
2025
20202025
Net result
€145,993
▲ 26.4%
2025
middle half of the sector
20202025
Equity
€319,583
▲ 36.8%
2025
middle half of the sector
20202025
Total assets
€1.8m
▲ 13.7%
2025
middle half of the sector
20202025
Debt
€1.5m
▲ 9.8%
2025
20202025
Working capital
-€180,090
▼ 70.7%
2025
lowest quarter of the sector
20202025
Solvency
17.3%
▲ 2.9pp
2025
middle half of the sector
20202025
Current ratio
0.62
▼ 0.01
2025
lowest quarter of the sector
20202025
Return on assets (ROA)
7.9%
▲ 0.8pp
2025
middle half of the sector
20202025
Staff (FTE)
4.5
▲ 25.0%
2025
middle half of the sector
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€0.005m-€0.1m▲ 18×€0.1m▲ 39.1%€0.1m▼ 13.2%€0.2m▲ 56.7%€0.2m▲ 14.7%
Net result€0.004mbelow the sector's middle half-€0.08mwithin the sector's middle half▲ 22×€0.1mwithin the sector's middle half▲ 32.7%€0.09mwithin the sector's middle half▼ 12.5%€0.1mwithin the sector's middle half▲ 24.2%€0.1mwithin the sector's middle half▲ 26.4%
Equity€0.02mbelow the sector's middle half-€0.04mbelow the sector's middle half▲ 108%€0.09mbelow the sector's middle half▲ 120%€0.1mwithin the sector's middle half▲ 38.8%€0.2mwithin the sector's middle half▲ 97.8%€0.3mwithin the sector's middle half▲ 36.8%
Total assets€0.5mwithin the sector's middle half-€1.1mwithin the sector's middle half▲ 123%€1.1mwithin the sector's middle half▼ 3.3%€1.0mwithin the sector's middle half▼ 3.5%€1.6mwithin the sector's middle half▲ 59.4%€1.8mwithin the sector's middle half▲ 13.7%
Debt€0.5m-€1.1m▲ 124%€1.0m▼ 7.8%€0.9m▼ 7.2%€1.4m▲ 54.4%€1.5m▲ 9.8%
Working capital-€0.4mbelow the sector's middle half--€0.05mbelow the sector's middle half▲ 87.8%-€0.004mwithin the sector's middle half▲ 92.1%€0.02mwithin the sector's middle half-€0.1mbelow the sector's middle half-€0.2mbelow the sector's middle half▼ 70.7%
Solvency3.8%below the sector's middle half-3.5%below the sector's middle half▼ 0.3pp8.1%below the sector's middle half▲ 4.5pp11.6%below the sector's middle half▲ 3.5pp14.4%below the sector's middle half▲ 2.8pp17.3%within the sector's middle half▲ 2.9pp
Current ratio0.09below the sector's middle half-0.73below the sector's middle half▲ 0.640.98within the sector's middle half▲ 0.251.11within the sector's middle half▲ 0.130.64below the sector's middle half▼ 0.480.62below the sector's middle half▼ 0.01
Return on assets (ROA)0.7%below the sector's middle half-7.3%within the sector's middle half▲ 6.6pp10.1%within the sector's middle half▲ 2.7pp9.1%within the sector's middle half▼ 0.9pp7.1%within the sector's middle half▼ 2.0pp7.9%within the sector's middle half▲ 0.8pp
Staff (FTE)0.1below the sector's middle half-1.5below the sector's middle half▲ 15×1.6below the sector's middle half▲ 6.7%2.4within the sector's middle half▲ 50.0%3.6within the sector's middle half▲ 50.0%4.5within the sector's middle half▲ 25.0%
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.
The operating result for 2025 is 15% higher than in 2024 and the highest since 2021. It is the second rise in a row, after the fall in 2023.
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
2025 in colour, 2024 as the grey bar beneath
Assets €1.8m
Fixed assets
€1.5m ▲ 7.6%
Current assets
€296,514 ▲ 61.0%
Equity and liabilities €1.8m
Equity
€319,583 ▲ 36.8%
Debt
€1.5m ▲ 9.8%
Debt's share of the balance-sheet total falls from 85.6% to 82.7%. Equity and debt are higher.
Key figures and ratios
ROE
45.7%▼
2024 · 49.5%
Debt ≤ 1 year
€476,604▲
2024 · €289,599
Debt > 1 year
€1.0m▼
2024 · €1.1m
Income taxes
€34,442▼
2024 · €49,707
Staff costs
€328,765▲
2024 · €167,452
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 | 2 | 3 | 3 | 4 | 5 |
| full-time | - | - | - | 1 | 3 |
| part-time | 2 | 3 | 3 | 3 | 2 |
| in full-time equivalents | 1.3 | 1.7 | 1.9 | 3.3 | 4.5 |
| Average over the year, in full-time equivalents | 1.5 | 1.6 | 2.4 | 3.6 | 4.4 |
| On a permanent contract | 2 | 3 | 3 | 4 | 5 |
| Joined | 2 | 2 | - | 4 | 3 |
| Left | 2 | 1 | - | 3 | 2 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €962,044 | €861,535 | €790,515 | €1.3m | €1.2m |
| Pledge on the business | €834,750 | €834,750 | €834,750 | €1.2m | €1.4m |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €11,132 | €2,604 | €33,839 | €5,955 | €14,718 |
| Intangible fixed assets | €593,700 | - | - | €822,080 | €328,000 |
| Financial fixed assets | €950 | €386 | €780 | - | €3,807 |
| Depreciation and write-downs of the year | €101,082 | €106,374 | €107,954 | €162,849 | €211,214 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €87,529 | €88,102 | €130,812 | €167,452 | €328,765 | ▲ 96.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,453 | €101,082 | €106,374 | €107,954 | €162,849 | €211,214 | ▲ 29.7% |
| Other operating charges640/8 | - | €6,748 | €15,510 | €25,160 | €13,416 | €26,145 | ▲ 94.9% |
| Gross operating margin9900 | €21,809 | €293,915 | €347,074 | €382,855 | €530,073 | €779,871 | ▲ 47.1% |
| Operating profit (loss)9901 | €5,340 | €98,555 | €137,088 | €118,929 | €186,356 | €213,747 | ▲ 14.7% |
| Financial income75/76B | - | €9 | €0 | €818 | €1,590 | €913 | ▼ 42.6% |
| Recurring financial income75 | - | €9 | €0 | €818 | €1,428 | €775 | ▼ 45.7% |
| Non-recurring financial income76B | - | - | - | - | €162 | €138 | ▼ 14.8% |
| Financial charges65/66B | - | €9,708 | €11,194 | €10,593 | €22,714 | €34,226 | ▲ 50.7% |
| Recurring financial charges65 | €80 | €9,708 | €11,194 | €10,593 | €22,714 | €33,890 | ▲ 49.2% |
| Non-recurring financial charges66B | - | - | - | - | - | €335 | - |
| Profit (loss) for the period before taxes9903 | €5,260 | €88,856 | €125,894 | €109,154 | €165,232 | €180,435 | ▲ 9.2% |
| Income taxes67/77 | €1,652 | €8,729 | €19,568 | €16,150 | €49,707 | €34,442 | ▼ 30.7% |
| Profit (loss) for the period9904 | €3,608 | €80,127 | €106,326 | €93,004 | €115,525 | €145,993 | ▲ 26.4% |
| Profit (loss) for the period to be appropriated9905 | €3,608 | €80,127 | €106,326 | €93,004 | €115,525 | €145,993 | ▲ 26.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €0.5m | €1.1m | €1.1m | €1.0m | €1.6m | €1.8m | ▲ 13.7% |
| Fixed assets21/28 | €0.4m | €1.0m | €0.8m | €0.8m | €1.4m | €1.5m | ▲ 7.6% |
| Intangible fixed assets21 | €0.4m | €0.9m | €0.8m | €0.7m | €1.4m | €1.5m | ▲ 8.7% |
| Tangible fixed assets22/27 | - | €0.01m | €0.01m | €0.04m | €0.04m | €0.02m | ▼ 40.6% |
| Plant, machinery and equipment23 | - | €0.001m | €0.002m | €0.002m | €0.006m | €0.006m | ▲ 11.1% |
| Furniture and vehicles24 | - | - | - | €0.03m | €0.03m | - | - |
| Other tangible fixed assets26 | - | €0.01m | €0.009m | €0.008m | €0.007m | €0.02m | ▲ 137% |
| Financial fixed assets28 | - | €0.001m | €0.001m | €0.002m | €0.001m | €0.005m | ▲ 497% |
| Current assets29/58 | €0.04m | €0.1m | €0.2m | €0.2m | €0.2m | €0.3m | ▲ 61.0% |
| Amounts receivable within one year40/41 | - | €0.01m | €0.01m | €0.03m | €0.03m | €0.04m | ▲ 69.2% |
| Trade receivables40 | - | €0.002m | €0.004m | €0.002m | €0.02m | €0.009m | ▼ 44.3% |
| Other amounts receivable41 | - | €0.008m | €0.007m | €0.03m | €0.009m | €0.03m | ▲ 285% |
| Current investments50/53 | - | - | - | - | - | €0.08m | - |
| Cash at bank and in hand54/58 | €0.009m | €0.06m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 12.8% |
| Deferred charges and accrued income490/1 | - | €0.07m | €0.07m | €0.09m | €0.06m | €0.07m | ▲ 10.5% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €0.5m | €1.1m | €1.1m | €1.0m | €1.6m | €1.8m | ▲ 13.7% |
| Equity10/15 | €0.02m | €0.04m | €0.09m | €0.1m | €0.2m | €0.3m | ▲ 36.8% |
| Contributions10/11 | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Profit (loss) carried forward14 | €0.004m | €0.02m | €0.07m | €0.1m | €0.2m | €0.3m | ▲ 39.3% |
| Amounts payable17/49 | €0.5m | €1.1m | €1.0m | €0.9m | €1.4m | €1.5m | ▲ 9.8% |
| Amounts payable after more than one year17 | - | €0.9m | €0.8m | €0.7m | €1.1m | €1.0m | ▼ 4.5% |
| Financial debts170/4 | - | €0.9m | €0.8m | €0.7m | €1.1m | €1.0m | ▼ 4.5% |
| Amounts payable within one year42/48 | €0.5m | €0.2m | €0.2m | €0.2m | €0.3m | €0.5m | ▲ 64.6% |
| Current portion of amounts payable after more than one year42 | - | €0.1m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 11.2% |
| Financial debts43 | - | - | €409 | €0.001m | €0.002m | €0.06m | ▲ 28× |
| Credit institutions430/8 | - | - | €409 | €0.001m | €0.002m | €0.06m | ▲ 28× |
| Trade debts44 | €0.005m | €0.004m | €0.009m | €0.01m | €0.07m | €0.1m | ▲ 59.1% |
| Suppliers440/4 | - | €0.004m | €0.009m | €0.01m | €0.07m | €0.1m | ▲ 59.1% |
| Taxes, remuneration and social security45 | - | €0.02m | €0.04m | €0.04m | €0.05m | €0.06m | ▲ 23.6% |
| Taxes450/3 | - | €0.01m | €0.03m | €0.02m | €0.03m | €0.03m | ▼ 1.6% |
| Remuneration and social security454/9 | - | €0.01m | €0.01m | €0.02m | €0.02m | €0.03m | ▲ 61.9% |
| Other amounts payable47/48 | - | €0.06m | €0.06m | €0.06m | €0.003m | €0.06m | ▲ 18× |
| Accrued charges and deferred income492/3 | - | - | - | - | €0.001m | €45 | ▼ 95.3% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,608 | €80,127 | €106,326 | €93,004 | €115,525 | €145,993 | ▲ 26.4% |
| + Depreciation and write-downs630 | €3,453 | €101,082 | €106,374 | €107,954 | €162,849 | €211,214 | ▲ 29.7% |
| Operating cash flow (approximation) | €7,061 | €181,209 | €212,701 | €200,958 | €278,374 | €357,207 | ▲ 28.3% |
| Investment in fixed assets (approximation) | - | -€605,781 | -€2,990 | -€34,619 | -€826,686 | -€321,190 | ▲ 61.1% |
| Change in cash | - | €52,082 | €61,889 | €6,498 | -€30,637 | €12,576 | - |
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 | abbreviated format | 03-07-2026 | 2026-00264693 | |
| 31-12-2024 | abbreviated format | 04-07-2025 | 2025-00245109 | |
| 31-12-2023 | abbreviated format | 02-07-2024 | 2024-00216337 | |
| 31-12-2022 | abbreviated format | 03-07-2023 | 2023-00206259 | |
| 31-12-2021 | abbreviated format | 24-06-2022 | 2022-20145922 | |
| 31-12-2020 | abbreviated format | 30-07-2021 | 2021-45200242 |