Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 18-04-2026 PDF all 16 filings
Equity
€370,491▲ 26.2%
2024 · €293,610
Total assets
€567,612▼ 1.6%
2024 · €576,863
Net result
€76,881
2024 · -€18,013
Working capital
-€192,417▼ 3.4%
2024 · -€186,127
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€76,948
2025
20192025
Net result
€76,881
2025
middle half of the sector
20192025
Equity
€370,491
▲ 26.2%
2025
middle half of the sector
20192025
Total assets
€567,612
▼ 1.6%
2025
middle half of the sector
20192025
Debt
€197,121
▲ 4.3%
2025
20192025
Working capital
-€192,417
▼ 3.4%
2025
lowest quarter of the sector
20192025
Solvency
65.3%
▲ 14.4pp
2025
highest quarter of the sector
20192025
Current ratio
0.01
▼ 0.01
2025
lowest quarter of the sector
20192025
Return on assets (ROA)
13.5%
▲ 16.7pp
2025
highest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€65,637--€48,735▲ 25.8%-€21,161▲ 56.6%-€20,046▲ 5.3%-€21,064▼ 5.1%-€17,932▲ 14.9%€76,948
Net result-€68,574--€49,895below the sector's middle half▲ 27.2%-€21,434below the sector's middle half▲ 57.0%-€20,259below the sector's middle half▲ 5.5%€8,002within the sector's middle half-€18,013below the sector's middle half€76,881within the sector's middle half
Equity€395,208-€345,313within the sector's middle half▼ 12.6%€323,880within the sector's middle half▼ 6.2%€303,621within the sector's middle half▼ 6.3%€311,622within the sector's middle half▲ 2.6%€293,610within the sector's middle half▼ 5.8%€370,491within the sector's middle half▲ 26.2%
Total assets€697,304-€629,059within the sector's middle half▼ 9.8%€604,350within the sector's middle half▼ 3.9%€594,898within the sector's middle half▼ 1.6%€607,375within the sector's middle half▲ 2.1%€576,863within the sector's middle half▼ 5.0%€567,612within the sector's middle half▼ 1.6%
Debt€207,838-€189,487▼ 8.8%€186,211▼ 1.7%€197,019▲ 5.8%€201,494▲ 2.3%€188,995▼ 6.2%€197,121▲ 4.3%
Working capital-€49,819--€178,252below the sector's middle half▼ 258%-€183,415below the sector's middle half▼ 2.9%-€195,102below the sector's middle half▼ 6.4%-€167,938below the sector's middle half▲ 13.9%-€186,127below the sector's middle half▼ 10.8%-€192,417below the sector's middle half▼ 3.4%
Solvency56.7%-54.9%within the sector's middle half▼ 1.8pp53.6%within the sector's middle half▼ 1.3pp51.0%within the sector's middle half▼ 2.6pp51.3%within the sector's middle half▲ 0.3pp50.9%within the sector's middle half▼ 0.4pp65.3%above the sector's middle half▲ 14.4pp
Current ratio0.76-0.06below the sector's middle half▼ 0.700.00below the sector's middle half▼ 0.060.01below the sector's middle half▲ 0.010.13below the sector's middle half▲ 0.120.02below the sector's middle half▼ 0.110.01below the sector's middle half▼ 0.01
Return on assets (ROA)-9.8%--7.9%below the sector's middle half▲ 1.9pp-3.5%below the sector's middle half▲ 4.4pp-3.4%below the sector's middle half▲ 0.1pp1.3%within the sector's middle half▲ 4.7pp-3.1%below the sector's middle half▼ 4.4pp13.5%above the sector's middle half▲ 16.7pp
above
within
below
The sector band is the middle half of the companies in Rental and leasing activities (NACE 77). 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 a profit of €76,948, after a loss of €17,932 in 2024. It is the highest result since 2021.
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €567,612
Fixed assets
€565,680 ▼ 1.4%
Current assets
€1,932 ▼ 32.6%
Equity and liabilities €567,612
Equity
€370,491 ▲ 26.2%
Provisions
€0 ▼ 100%
Debt
€197,121 ▲ 4.3%
Debt's share of the balance-sheet total rises from 32.8% to 34.7%. Equity and debt are higher.
Key figures and ratios
ROE
20.8%▲
2024 · -6.1%
Debt ≤ 1 year
€194,349▲
2024 · €188,995
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €12,201 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,263 | €10,769 | €9,822 | €9,493 | €8,315 | €8,315 | €8,315 | = |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €5,135 | - | - | - | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | - | - | -€94,259 | - |
| Other operating charges640/8 | - | - | €785 | €518 | €226 | €464 | €981 | ▲ 112% |
| Non-recurring operating charges66A | - | - | - | €1,239 | - | €47 | - | - |
| Gross operating margin9900 | -€55,805 | -€34,745 | -€5,419 | -€8,796 | -€12,523 | -€9,106 | -€8,015 | ▲ 12.0% |
| Operating profit (loss)9901 | -€65,637 | -€48,735 | -€21,161 | -€20,046 | -€21,064 | -€17,932 | €76,948 | - |
| Financial income75/76B | - | - | - | €0 | €29,191 | €1 | - | - |
| Recurring financial income75 | €8 | €1 | - | €0 | €29,191 | €1 | - | - |
| Non-recurring financial income76B | - | - | - | - | €29,191 | - | - | - |
| Financial charges65/66B | - | - | €272 | €63 | €74 | €81 | €67 | ▼ 17.7% |
| Recurring financial charges65 | €2,944 | €1,162 | €272 | €63 | €74 | €81 | €67 | ▼ 17.7% |
| Profit (loss) for the period before taxes9903 | -€68,574 | -€49,895 | -€21,434 | -€20,109 | €8,053 | -€18,013 | €76,881 | - |
| Income taxes67/77 | - | - | - | €149 | €51 | - | - | - |
| Profit (loss) for the period9904 | -€68,574 | -€49,895 | -€21,434 | -€20,259 | €8,002 | -€18,013 | €76,881 | - |
| Profit (loss) for the period to be appropriated9905 | -€68,574 | -€49,895 | -€21,434 | -€20,259 | €8,002 | -€18,013 | €76,881 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €697,304 | €629,059 | €604,350 | €594,898 | €607,375 | €576,863 | €567,612 | ▼ 1.6% |
| Formation expenses20 | €170 | €122 | - | - | - | - | - | - |
| Fixed assets21/28 | €539,116 | €617,701 | €603,713 | €592,981 | €582,311 | €573,995 | €565,680 | ▼ 1.4% |
| Tangible fixed assets22/27 | €138,916 | €217,501 | €203,713 | €192,981 | €182,311 | €173,995 | €165,680 | ▼ 4.8% |
| Plant, machinery and equipment23 | - | - | €4,237 | €2,599 | €2,199 | €1,799 | €1,399 | ▼ 22.2% |
| Furniture and vehicles24 | - | - | €9,836 | €7,870 | €4,727 | €3,939 | €3,151 | ▼ 20.0% |
| Other tangible fixed assets26 | - | - | €189,640 | €182,513 | €175,385 | €168,257 | €161,129 | ▼ 4.2% |
| Financial fixed assets28 | €400,200 | €400,200 | €400,000 | €400,000 | €400,000 | €400,000 | €400,000 | = |
| Current assets29/58 | €158,019 | €11,235 | €636 | €1,917 | €25,064 | €2,868 | €1,932 | ▼ 32.6% |
| Amounts receivable within one year40/41 | €2,965 | €3,937 | €337 | €450 | €24,511 | €2,463 | €642 | ▼ 73.9% |
| Trade receivables40 | - | - | €162 | €158 | €22,581 | - | - | - |
| Other amounts receivable41 | - | - | €175 | €292 | €1,930 | €2,463 | €642 | ▼ 73.9% |
| Cash at bank and in hand54/58 | €153,271 | €5,313 | €278 | €192 | €393 | €234 | €1,111 | ▲ 374% |
| Deferred charges and accrued income490/1 | - | - | €21 | €1,275 | €160 | €171 | €179 | ▲ 4.8% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €697,304 | €629,059 | €604,350 | €594,898 | €607,375 | €576,863 | €567,612 | ▼ 1.6% |
| Equity10/15 | €395,208 | €345,313 | €323,880 | €303,621 | €311,622 | €293,610 | €370,491 | ▲ 26.2% |
| Contributions10/11 | €405,016 | €405,016 | €405,016 | €405,016 | €405,016 | €405,016 | €405,016 | = |
| Capital10 | - | - | €405,016 | €405,016 | €405,016 | €405,016 | €405,016 | = |
| Issued capital100 | - | - | €405,016 | €405,016 | €405,016 | €405,016 | €405,016 | = |
| Reserves13 | €39,741 | €39,741 | €39,741 | €39,741 | €39,741 | €39,741 | €39,741 | = |
| Non-distributable reserves130/1 | - | - | €3,400 | €3,400 | €3,400 | €3,400 | €3,400 | = |
| Legal reserve130 | - | - | €3,400 | €3,400 | €3,400 | €3,400 | €3,400 | = |
| Distributable reserves133 | - | - | €36,341 | €36,341 | €36,341 | €36,341 | €36,341 | = |
| Profit (loss) carried forward14 | -€49,549 | -€99,444 | -€120,877 | -€141,136 | -€133,134 | -€151,147 | -€74,266 | ▲ 50.9% |
| Provisions and deferred taxes16 | €94,259 | €94,259 | €94,259 | €94,259 | €94,259 | €94,259 | - | - |
| Provisions for liabilities and charges160/5 | - | - | €94,259 | €94,259 | €94,259 | €94,259 | - | - |
| Other liabilities and charges164/5 | - | - | €94,259 | €94,259 | €94,259 | €94,259 | - | - |
| Amounts payable17/49 | €207,838 | €189,487 | €186,211 | €197,019 | €201,494 | €188,995 | €197,121 | ▲ 4.3% |
| Amounts payable within one year42/48 | €207,838 | €189,487 | €184,051 | €197,019 | €193,002 | €188,995 | €194,349 | ▲ 2.8% |
| Trade debts44 | €18,546 | €8,559 | €2,542 | €2,125 | €1,526 | €12,940 | - | - |
| Suppliers440/4 | - | - | €2,542 | €2,125 | €1,526 | €12,940 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €149 | €5,473 | - | - | - |
| Taxes450/3 | - | - | - | €149 | €5,473 | - | - | - |
| Other amounts payable47/48 | - | - | €181,509 | €194,744 | €186,004 | €176,055 | €194,349 | ▲ 10.4% |
| Accrued charges and deferred income492/3 | - | - | €2,161 | - | €8,492 | - | €2,772 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€68,574 | -€49,895 | -€21,434 | -€20,259 | €8,002 | -€18,013 | €76,881 | - |
| + Depreciation and write-downs630 | €5,263 | €10,769 | €9,822 | €9,493 | €8,315 | €8,315 | €8,315 | = |
| Operating cash flow (approximation) | -€63,311 | -€39,126 | -€11,612 | -€10,766 | €16,317 | -€9,697 | €85,196 | - |
| Investment in fixed assets (approximation) | - | -€89,354 | €4,166 | €1,239 | €2,355 | €0 | €0 | - |
| Change in cash | - | -€147,958 | -€5,035 | -€86 | €201 | -€159 | €877 | - |
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 16 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 18-04-2026 | 2026-00082059 | |
| 30-09-2024 | abbreviated format | 29-03-2025 | 2025-00057562 | |
| 30-09-2023 | abbreviated format | 29-04-2024 | 2024-00071864 | |
| 30-09-2022 | abbreviated format | 28-03-2023 | 2023-00046435 | |
| 30-09-2021 | abbreviated format | 28-04-2022 | 2022-20011392 | |
| 30-09-2020 | abbreviated format | 29-04-2021 | 2021-11600597 | |
| 30-09-2019 | abbreviated format | 30-03-2020 | 2020-07700575 | |
| 30-09-2018 | abbreviated format | 12-04-2019 | 2019-09800199 | |
| 31-12-2016 | abbreviated format | 28-07-2017 | 2017-36700397 | |
| 31-12-2015 | abbreviated format | 29-07-2016 | 2016-36900381 |