Financials · financial year 2025, micro format
Annual accounts 2025 filed on 10-07-2026 at the NBB all 17 filings
Equity
€338,389▲ 16.2%
2024 · €291,313
Net result
€47,076▼ 16.0%
2024 · €56,061
Total assets
€373,577▲ 15.5%
2024 · €323,308
Solvency
90.6%▲ 0.5pp
2024 · 90.1%
In the rankings
#9 oldest company in Herent, Finance and insurance sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€65,489
▼ 14.5%
2025
20182025
Net result
€47,076
▼ 16.0%
2025
middle half of the sector
20182025
Equity
€338,389
▲ 16.2%
2025
middle half of the sector
20182025
Total assets
€373,577
▲ 15.5%
2025
middle half of the sector
20182025
Debt
€35,188
▲ 10.0%
2025
20182025
Working capital
€226,929
▼ 0.2%
2025
highest quarter of the sector
20182025
Solvency
90.6%
▲ 0.5pp
2025
highest quarter of the sector
20182025
Current ratio
7.45
▼ 0.77
2025
highest quarter of the sector
20182025
Return on assets (ROA)
12.6%
▼ 4.7pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€42,495-€26,586-€20,295-€17,007▲ 16.2%€64,553€124,584▲ 93.0%€76,572▼ 38.5%€65,489▼ 14.5%
Net result-€48,451-€23,407-€20,892below the sector's middle half-€17,861below the sector's middle half▲ 14.5%€59,042within the sector's middle half€89,772above the sector's middle half▲ 52.0%€56,061within the sector's middle half▼ 37.6%€47,076within the sector's middle half▼ 16.0%
Equity€101,783-€125,190▲ 23.0%€104,298within the sector's middle half▼ 16.7%€86,437within the sector's middle half▼ 17.1%€145,479within the sector's middle half▲ 68.3%€235,252within the sector's middle half▲ 61.7%€291,313within the sector's middle half▲ 23.8%€338,389within the sector's middle half▲ 16.2%
Total assets€127,432-€144,058▲ 13.0%€119,467below the sector's middle half▼ 17.1%€105,156below the sector's middle half▼ 12.0%€203,759within the sector's middle half▲ 93.8%€298,679within the sector's middle half▲ 46.6%€323,308within the sector's middle half▲ 8.2%€373,577within the sector's middle half▲ 15.5%
Debt€25,649-€18,868▼ 26.4%€15,169▼ 19.6%€18,719▲ 23.4%€58,279▲ 211%€63,427▲ 8.8%€31,995▼ 49.6%€35,188▲ 10.0%
Working capital€75,271-€107,163▲ 42.4%€94,418within the sector's middle half▼ 11.9%€24,778within the sector's middle half▼ 73.8%€103,687within the sector's middle half▲ 318%€171,727above the sector's middle half▲ 65.6%€227,334above the sector's middle half▲ 32.4%€226,929above the sector's middle half▼ 0.2%
Solvency79.9%-86.9%▲ 7.0pp87.3%above the sector's middle half▲ 0.4pp82.2%above the sector's middle half▼ 5.1pp71.4%within the sector's middle half▼ 10.8pp78.8%above the sector's middle half▲ 7.4pp90.1%above the sector's middle half▲ 11.3pp90.6%above the sector's middle half▲ 0.5pp
Current ratio3.93-6.68▲ 2.757.22above the sector's middle half▲ 0.542.32within the sector's middle half▼ 4.903.74within the sector's middle half▲ 1.413.71within the sector's middle half▼ 0.038.22above the sector's middle half▲ 4.517.45above the sector's middle half▼ 0.77
Return on assets (ROA)-38.0%-16.2%▲ 54.3pp-17.5%below the sector's middle half▼ 33.7pp-17.0%below the sector's middle half▲ 0.5pp29.0%above the sector's middle half▲ 46.0pp30.1%above the sector's middle half▲ 1.1pp17.3%within the sector's middle half▼ 12.7pp12.6%within the sector's middle half▼ 4.7pp
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 14% lower than in 2024 and the lowest since 2022. It is the second fall in a row.
Turnover and EBIT margin are not published. The abbreviated or 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 €373,577
Fixed assets
€111,460 ▲ 72.8%
Current assets
€262,117 ▲ 1.3%
Equity and liabilities €373,577
Equity
€338,389 ▲ 16.2%
Debt
€35,188 ▲ 10.0%
Debt's share of the balance-sheet total falls from 9.9% to 9.4%. Equity and debt are higher.
Key figures and ratios
ROE
13.9%▼
2024 · 19.2%
Debt ≤ 1 year
€35,188▲
2024 · €31,486
Income taxes
€18,099▼
2024 · €21,260
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €760 | €1,607 | €1,661 | - |
| Financial fixed assets | €60,000 | - | - | - | €48,000 |
| Depreciation and write-downs of the year | €8,221 | €227 | €274 | €698 | €1,027 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,928 | €8,485 | €8,566 | €8,221 | €227 | €274 | €698 | €1,027 | ▲ 47.1% |
| Other operating charges640/8 | - | - | - | €1,645 | €1,403 | €612 | €2,175 | €681 | ▼ 68.7% |
| Gross operating margin9900 | €31,798 | €36,697 | -€10,104 | -€7,141 | €66,182 | €125,471 | €79,445 | €67,197 | ▼ 15.4% |
| Operating profit (loss)9901 | -€42,495 | €26,586 | -€20,295 | -€17,007 | €64,553 | €124,584 | €76,572 | €65,489 | ▼ 14.5% |
| Financial income75/76B | - | - | - | - | - | €0 | €1,101 | - | - |
| Recurring financial income75 | €0 | - | - | - | - | €0 | €1,101 | - | - |
| Financial charges65/66B | - | - | - | €634 | €286 | €311 | €352 | €314 | ▼ 10.9% |
| Recurring financial charges65 | €490 | €591 | €379 | €634 | €286 | €311 | €352 | €314 | ▼ 10.9% |
| Profit (loss) for the period before taxes9903 | -€42,985 | €25,995 | -€20,675 | -€17,641 | €64,266 | €124,273 | €77,321 | €65,175 | ▼ 15.7% |
| Income taxes67/77 | €5,466 | €2,587 | €218 | €220 | €5,224 | €34,501 | €21,260 | €18,099 | ▼ 14.9% |
| Profit (loss) for the period9904 | -€48,451 | €23,407 | -€20,892 | -€17,861 | €59,042 | €89,772 | €56,061 | €47,076 | ▼ 16.0% |
| Profit (loss) for the period to be appropriated9905 | -€48,451 | €23,407 | -€20,892 | -€17,861 | €59,042 | €89,772 | €56,061 | €47,076 | ▼ 16.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €127,432 | €144,058 | €119,467 | €105,156 | €203,759 | €298,679 | €323,308 | €373,577 | ▲ 15.5% |
| Fixed assets21/28 | €26,512 | €18,027 | €9,880 | €61,659 | €62,192 | €63,524 | €64,487 | €111,460 | ▲ 72.8% |
| Tangible fixed assets22/27 | €25,162 | €16,677 | €8,530 | €309 | €842 | €2,174 | €3,137 | €2,110 | ▼ 32.7% |
| Plant, machinery and equipment23 | - | - | - | €309 | €132 | €37 | - | - | - |
| Furniture and vehicles24 | - | - | - | - | €710 | €2,137 | €3,137 | €2,110 | ▼ 32.7% |
| Financial fixed assets28 | €1,350 | €1,350 | €1,350 | €61,350 | €61,350 | €61,350 | €61,350 | €109,350 | ▲ 78.2% |
| Current assets29/58 | €100,920 | €126,031 | €109,588 | €43,497 | €141,567 | €235,155 | €258,821 | €262,117 | ▲ 1.3% |
| Amounts receivable within one year40/41 | €11,511 | €18,236 | €9,201 | €10,378 | €16,397 | €13,797 | €15,500 | €24,232 | ▲ 56.3% |
| Trade receivables40 | - | - | - | €10,378 | €16,310 | €7,239 | €11,304 | €18,134 | ▲ 60.4% |
| Other amounts receivable41 | - | - | - | - | €87 | €6,558 | €4,196 | €6,098 | ▲ 45.3% |
| Cash at bank and in hand54/58 | €88,900 | €107,795 | €100,387 | €33,119 | €66,430 | €221,358 | €243,320 | €237,885 | ▼ 2.2% |
| Deferred charges and accrued income490/1 | - | - | - | - | €58,740 | - | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €127,432 | €144,058 | €119,467 | €105,156 | €203,759 | €298,679 | €323,308 | €373,577 | ▲ 15.5% |
| Equity10/15 | €101,783 | €125,190 | €104,298 | €86,437 | €145,479 | €235,252 | €291,313 | €338,389 | ▲ 16.2% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €83,183 | €106,590 | €93,622 | €93,622 | €143,622 | €213,622 | €253,622 | €300,622 | ▲ 18.5% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €91,762 | €141,762 | €213,622 | €253,622 | €300,622 | ▲ 18.5% |
| Profit (loss) carried forward14 | - | - | -€7,924 | -€25,785 | -€16,743 | €3,030 | €19,091 | €19,167 | ▲ 0.4% |
| Amounts payable17/49 | €25,649 | €18,868 | €15,169 | €18,719 | €58,279 | €63,427 | €31,995 | €35,188 | ▲ 10.0% |
| Amounts payable within one year42/48 | €25,649 | €18,868 | €15,169 | €18,719 | €37,880 | €63,427 | €31,486 | €35,188 | ▲ 11.8% |
| Trade debts44 | €2,461 | €1,199 | - | €3,252 | - | €7,394 | €97 | €3,117 | ▲ 32× |
| Suppliers440/4 | - | - | - | €3,252 | - | €7,394 | €97 | €3,117 | ▲ 32× |
| Advances received on contracts in progress46 | - | - | - | - | €27,360 | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €3,635 | €9,148 | €53,367 | €22,526 | €22,667 | ▲ 0.6% |
| Taxes450/3 | - | - | - | €3,635 | €9,148 | €53,367 | €22,526 | €22,667 | ▲ 0.6% |
| Other amounts payable47/48 | - | - | - | €11,831 | €1,372 | €2,666 | €8,863 | €9,405 | ▲ 6.1% |
| Accrued charges and deferred income492/3 | - | - | - | - | €20,400 | - | €509 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€48,451 | €23,407 | -€20,892 | -€17,861 | €59,042 | €89,772 | €56,061 | €47,076 | ▼ 16.0% |
| + Depreciation and write-downs630 | €8,928 | €8,485 | €8,566 | €8,221 | €227 | €274 | €698 | €1,027 | ▲ 47.1% |
| Operating cash flow (approximation) | -€39,523 | €31,892 | -€12,326 | -€9,640 | €59,269 | €90,046 | €56,759 | €48,103 | ▼ 15.3% |
| Investment in fixed assets (approximation) | - | €0 | -€419 | -€60,000 | -€760 | -€1,607 | -€1,661 | -€48,000 | ▼ 2,790% |
| Change in cash | - | €18,894 | -€7,408 | -€67,268 | €33,311 | €154,927 | €21,963 | -€5,435 | - |
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 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 10-07-2026 | 2026-00277046 | |
| 31-12-2024 | micro format | 17-12-2025 | 2025-00583326 | |
| 31-12-2023 | micro format | 08-12-2025 | 2025-00577553 | |
| 31-12-2022 | micro format | 29-12-2023 | 2023-00539373 | |
| 31-12-2021 | micro format | 31-12-2022 | 2023-20553785 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-64400476 | |
| 31-12-2019 | micro format | 31-12-2020 | 2020-77600061 | |
| 31-12-2018 | abbreviated format | 31-08-2019 | 2019-63400073 | |
| 31-12-2017 | abbreviated format | 31-08-2018 | 2018-61600038 | |
| 31-12-2016 | abbreviated format | 31-08-2017 | 2017-58500348 |