Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 12-01-2026 PDF all 16 filings
Equity
€153,086▲ 4.3%
2024 · €146,755
Net result
€591,331▲ 161%
2024 · €226,806
Total assets
€1.1m▲ 8.5%
2024 · €1.0m
Solvency
14.0%▼ 0.6pp
2024 · 14.6%
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€601,978
▲ 148%
2025
20192025
Net result
€591,331
▲ 161%
2025
highest quarter of the sector
20192025
Equity
€153,086
▲ 4.3%
2025
lowest quarter of the sector
20192025
Total assets
€1.1m
▲ 8.5%
2025
middle half of the sector
20192025
Debt
€940,000
▲ 9.2%
2025
20192025
Working capital
-€218,795
▼ 5.8%
2025
lowest quarter of the sector
20192025
Solvency
14.0%
▼ 0.6pp
2025
lowest quarter of the sector
20192025
Current ratio
0.72
▲ 0.04
2025
middle half of the sector
20192025
Return on assets (ROA)
54.1%
▲ 31.6pp
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€0.07m-€0.07m▲ 8.5%€0.1m▲ 36.7%€0.09m▼ 10.5%€0.2m▲ 110%€0.2m▲ 27.5%€0.6m▲ 148%
Net result€0.06m-€0.06mwithin the sector's middle half▲ 10.5%€0.09mwithin the sector's middle half▲ 46.8%€0.08mwithin the sector's middle half▼ 11.1%€0.2mwithin the sector's middle half▲ 111%€0.2mabove the sector's middle half▲ 29.0%€0.6mabove the sector's middle half▲ 161%
Equity€0.1m-€0.1mwithin the sector's middle half▲ 0.1%€0.1mbelow the sector's middle half=€0.1mbelow the sector's middle half▲ 0.1%€0.1mbelow the sector's middle half▲ 0.6%€0.1mbelow the sector's middle half▲ 1.2%€0.2mbelow the sector's middle half▲ 4.3%
Total assets€0.9m-€0.8mwithin the sector's middle half▼ 4.6%€0.8mwithin the sector's middle half▲ 0.8%€1.0mwithin the sector's middle half▲ 13.2%€1.0mwithin the sector's middle half▼ 0.1%€1.0mwithin the sector's middle half▲ 4.8%€1.1mwithin the sector's middle half▲ 8.5%
Debt€0.7m-€0.7m▼ 5.5%€0.7m▲ 1.0%€0.8m▲ 15.9%€0.8m▼ 0.2%€0.9m▲ 5.4%€0.9m▲ 9.2%
Working capital-€0.2m--€0.2mbelow the sector's middle half▼ 4.6%-€0.2mbelow the sector's middle half▼ 4.5%-€0.2mbelow the sector's middle half▼ 1.8%-€0.2mbelow the sector's middle half▼ 3.0%-€0.2mbelow the sector's middle half▼ 2.1%-€0.2mbelow the sector's middle half▼ 5.8%
Solvency16.3%-17.1%below the sector's middle half▲ 0.8pp16.9%below the sector's middle half▼ 0.1pp15.0%below the sector's middle half▼ 2.0pp15.1%below the sector's middle half▲ 0.1pp14.6%below the sector's middle half▼ 0.5pp14.0%below the sector's middle half▼ 0.6pp
Current ratio0.26-0.28below the sector's middle half▲ 0.020.40within the sector's middle half▲ 0.120.60within the sector's middle half▲ 0.200.63within the sector's middle half▲ 0.030.68within the sector's middle half▲ 0.050.72within the sector's middle half▲ 0.04
Return on assets (ROA)6.5%-7.6%within the sector's middle half▲ 1.0pp11.0%within the sector's middle half▲ 3.5pp8.7%within the sector's middle half▼ 2.4pp18.3%above the sector's middle half▲ 9.6pp22.5%above the sector's middle half▲ 4.2pp54.1%above the sector's middle half▲ 31.6pp
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 148% higher than in 2024 and the highest since 2019. It is the third rise in a row, after the fall in 2022.
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 €1.1m
Fixed assets
€536,843 ▼ 6.6%
Current assets
€556,243 ▲ 28.5%
Equity and liabilities €1.1m
Equity
€153,086 ▲ 4.3%
Debt
€940,000 ▲ 9.2%
Debt's share of the balance-sheet total rises from 85.4% to 86.0%. Equity and debt are higher.
Key figures and ratios
ROE
386.3%▲
2024 · 154.5%
Debt ≤ 1 year
€775,038▲
2024 · €639,593
Debt > 1 year
€150,000▼
2024 · €206,333
Income taxes
€2,110▲
2024 · €602
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Debts secured on the company's own assets | €378,334 | €321,000 | - | - |
| Mortgages, amount registered | €951,500 | €951,500 | €951,500 | €951,500 |
| Carrying value of the mortgaged assets | €671,414 | €622,436 | €573,458 | €535,593 |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €48,978 | €48,978 | €48,978 | €48,978 | €48,978 | €48,978 | €37,865 | ▼ 22.7% |
| Other operating charges640/8 | - | - | - | €15,384 | €1,056 | €9,174 | €18,065 | ▲ 96.9% |
| Gross operating margin9900 | €118,435 | €130,852 | €158,658 | €155,168 | €240,301 | €300,703 | €657,908 | ▲ 119% |
| Operating profit (loss)9901 | €68,413 | €74,236 | €101,465 | €90,806 | €190,267 | €242,551 | €601,978 | ▲ 148% |
| Financial income75/76B | - | - | - | €0 | €1,196 | €7,586 | €9,229 | ▲ 21.7% |
| Recurring financial income75 | - | €0 | €2 | €0 | €1,196 | €7,586 | €9,229 | ▲ 21.7% |
| Financial charges65/66B | - | - | - | €7,353 | €15,336 | €22,728 | €17,765 | ▼ 21.8% |
| Recurring financial charges65 | €10,576 | €10,283 | €7,674 | €7,353 | €15,336 | €22,728 | €17,765 | ▼ 21.8% |
| Profit (loss) for the period before taxes9903 | €57,838 | €63,953 | €93,793 | €83,453 | €176,126 | €227,408 | €593,442 | ▲ 161% |
| Income taxes67/77 | €23 | €64 | €10 | €53 | €281 | €602 | €2,110 | ▲ 251% |
| Profit (loss) for the period9904 | €57,815 | €63,889 | €93,783 | €83,399 | €175,845 | €226,806 | €591,331 | ▲ 161% |
| Profit (loss) for the period to be appropriated9905 | €57,815 | €63,889 | €93,783 | €83,399 | €175,845 | €226,806 | €591,331 | ▲ 161% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.9m | €0.8m | €0.8m | €1.0m | €1.0m | €1.0m | €1.1m | ▲ 8.5% |
| Fixed assets21/28 | €0.8m | €0.8m | €0.7m | €0.7m | €0.6m | €0.6m | €0.5m | ▼ 6.6% |
| Tangible fixed assets22/27 | €0.8m | €0.8m | €0.7m | €0.7m | €0.6m | €0.6m | €0.5m | ▼ 6.6% |
| Land and buildings22 | - | - | - | €0.7m | €0.6m | €0.6m | €0.5m | ▼ 6.6% |
| Financial fixed assets28 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Current assets29/58 | €0.06m | €0.07m | €0.1m | €0.3m | €0.3m | €0.4m | €0.6m | ▲ 28.5% |
| Amounts receivable within one year40/41 | €0.06m | €0.04m | €0.02m | €0.04m | €0.07m | €0.03m | €0.2m | ▲ 540% |
| Trade receivables40 | - | - | - | €0.008m | €0.009m | €0.006m | €0.008m | ▲ 27.0% |
| Other amounts receivable41 | - | - | - | €0.04m | €0.06m | €0.02m | €0.2m | ▲ 677% |
| Current investments50/53 | - | - | - | - | €0.2m | €0.4m | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €0.003m | €0.03m | €0.1m | €0.2m | €0.04m | €0.05m | €0.4m | ▲ 590% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.9m | €0.8m | €0.8m | €1.0m | €1.0m | €1.0m | €1.1m | ▲ 8.5% |
| Equity10/15 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.2m | ▲ 4.3% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | €0.09m | €0.09m | ▲ 7.4% |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Distributable reserves133 | - | - | - | €0.08m | €0.08m | €0.08m | €0.09m | ▲ 8.0% |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €0.7m | €0.7m | €0.7m | €0.8m | €0.8m | €0.9m | €0.9m | ▲ 9.2% |
| Amounts payable after more than one year17 | €0.5m | €0.4m | €0.4m | €0.3m | €0.3m | €0.2m | €0.2m | ▼ 27.3% |
| Financial debts170/4 | - | - | - | €0.3m | €0.3m | €0.2m | €0.2m | ▼ 27.3% |
| Amounts payable within one year42/48 | €0.2m | €0.3m | €0.3m | €0.5m | €0.5m | €0.6m | €0.8m | ▲ 21.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.06m | €0.06m | €0.06m | €0.03m | ▼ 41.9% |
| Financial debts43 | - | - | - | - | - | - | €240 | - |
| Credit institutions430/8 | - | - | - | - | - | - | €240 | - |
| Trade debts44 | €107 | €0.001m | €0.04m | €0.2m | €0.1m | €0.2m | €0.009m | ▼ 96.2% |
| Suppliers440/4 | - | - | - | €0.2m | €0.1m | €0.2m | €0.009m | ▼ 96.2% |
| Taxes, remuneration and social security45 | - | - | - | €0.03m | €0.06m | €0.02m | €0.03m | ▲ 45.2% |
| Taxes450/3 | - | - | - | €0.03m | €0.06m | €0.02m | €0.03m | ▲ 45.2% |
| Other amounts payable47/48 | - | - | - | €0.2m | €0.3m | €0.3m | €0.7m | ▲ 108% |
| Accrued charges and deferred income492/3 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | ▲ 0.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €57,815 | €63,889 | €93,783 | €83,399 | €175,845 | €226,806 | €591,331 | ▲ 161% |
| + Depreciation and write-downs630 | €48,978 | €48,978 | €48,978 | €48,978 | €48,978 | €48,978 | €37,865 | ▼ 22.7% |
| Operating cash flow (approximation) | €106,793 | €112,867 | €142,761 | €132,378 | €224,823 | €275,784 | €629,196 | ▲ 128% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €31,776 | €78,161 | €132,350 | -€204,386 | €11,594 | €308,533 | ▲ 27× |
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 |
|---|---|---|---|---|
| 30-06-2025 | abbreviated format | 12-01-2026 | 2026-00006001 | |
| 30-06-2024 | abbreviated format | 19-11-2024 | 2024-00601825 | |
| 30-06-2023 | abbreviated format | 22-01-2024 | 2024-00004387 | |
| 30-06-2022 | abbreviated format | 30-09-2022 | 2022-20443721 | |
| 30-06-2021 | abbreviated format | 30-11-2021 | 2021-78800038 | |
| 30-06-2020 | abbreviated format | 30-10-2020 | 2020-65900446 | |
| 30-06-2019 | abbreviated format | 02-10-2019 | 2019-67900493 | |
| 30-06-2018 | abbreviated format | 26-09-2018 | 2018-65100313 | |
| 30-06-2017 | abbreviated format | 25-10-2017 | 2017-67800171 | |
| 30-06-2016 | abbreviated format | 05-10-2016 | 2016-65100278 |