Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 27-07-2026 at the NBB all 24 filings
Equity
€110,989▲ 19.4%
2024 · €92,946
Net result
€18,043▲ 199%
2024 · €6,026
Total assets
€142,889▼ 4.7%
2024 · €150,005
Solvency
77.7%▲ 15.7pp
2024 · 62.0%
In the rankings
#4 oldest company in Herent, Finance and insurance sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€38,202
▲ 318%
2025
20182025
Net result
€18,043
▲ 199%
2025
middle half of the sector
20182025
Equity
€110,989
▲ 19.4%
2025
lowest quarter of the sector
20182025
Total assets
€142,889
▼ 4.7%
2025
lowest quarter of the sector
20182025
Debt
€31,900
▼ 44.1%
2025
20182025
Working capital
€105,247
▲ 27.7%
2025
middle half of the sector
20182025
Solvency
77.7%
▲ 15.7pp
2025
middle half of the sector
20182025
Current ratio
4.30
▲ 1.77
2025
highest quarter of the sector
20182025
Return on assets (ROA)
12.6%
▲ 8.6pp
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€5,185-€7,174▲ 38.4%€9,080▲ 26.6%€17,993▲ 98.2%€18,426▲ 2.4%€33,810▲ 83.5%€9,141▼ 73.0%€38,202▲ 318%
Net result€2,547-€3,043▲ 19.5%€4,309within the sector's middle half▲ 41.6%€11,020within the sector's middle half▲ 156%€1,542below the sector's middle half▼ 86.0%€24,432within the sector's middle half▲ 16×€6,026within the sector's middle half▼ 75.3%€18,043within the sector's middle half▲ 199%
Equity€62,575-€65,618▲ 4.9%€69,927within the sector's middle half▲ 6.6%€80,946within the sector's middle half▲ 15.8%€82,488within the sector's middle half▲ 1.9%€106,921within the sector's middle half▲ 29.6%€92,946within the sector's middle half▼ 13.1%€110,989below the sector's middle half▲ 19.4%
Total assets€116,733-€94,686▼ 18.9%€125,414below the sector's middle half▲ 32.5%€303,296within the sector's middle half▲ 142%€676,307within the sector's middle half▲ 123%€298,899within the sector's middle half▼ 55.8%€150,005within the sector's middle half▼ 49.8%€142,889below the sector's middle half▼ 4.7%
Debt€54,159-€29,069▼ 46.3%€55,487▲ 90.9%€222,350▲ 301%€593,819▲ 167%€191,978▼ 67.7%€57,059▼ 70.3%€31,900▼ 44.1%
Working capital€47,456-€50,238▲ 5.9%€47,054within the sector's middle half▼ 6.3%€57,128within the sector's middle half▲ 21.4%€136,960within the sector's middle half▲ 140%€92,181within the sector's middle half▼ 32.7%€82,401within the sector's middle half▼ 10.6%€105,247within the sector's middle half▲ 27.7%
Solvency53.6%-69.3%▲ 15.7pp55.8%within the sector's middle half▼ 13.5pp26.7%within the sector's middle half▼ 29.1pp12.2%below the sector's middle half▼ 14.5pp35.8%within the sector's middle half▲ 23.6pp62.0%within the sector's middle half▲ 26.2pp77.7%within the sector's middle half▲ 15.7pp
Current ratio2.43-3.91▲ 1.481.89within the sector's middle half▼ 2.021.26within the sector's middle half▼ 0.631.26within the sector's middle half=1.49within the sector's middle half▲ 0.222.52within the sector's middle half▲ 1.044.30above the sector's middle half▲ 1.77
Return on assets (ROA)2.2%-3.2%▲ 1.0pp3.4%within the sector's middle half▲ 0.2pp3.6%within the sector's middle half▲ 0.2pp0.2%below the sector's middle half▼ 3.4pp8.2%within the sector's middle half▲ 7.9pp4.0%within the sector's middle half▼ 4.2pp12.6%above the sector's middle half▲ 8.6pp
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 4.2 times that of 2024 and the highest since 2021. It is a recovery after the fall in 2024.
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 €142,889
Fixed assets
€5,742 ▼ 57.6%
Current assets
€137,147 ▲ 0.5%
Equity and liabilities €142,889
Equity
€110,989 ▲ 19.4%
Debt
€31,900 ▼ 44.1%
Debt's share of the balance-sheet total falls from 38.0% to 22.3%. Equity is higher and debt is lower.
Key figures and ratios
ROE
16.3%▲
2024 · 6.5%
Debt ≤ 1 year
€31,900▼
2024 · €54,059
Income taxes
€19,630▲
2024 · €3,088
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 | €15,599 | €11,104 | €12,692 | €3,991 | €1,652 |
| Depreciation and write-downs of the year | €14,654 | €15,220 | €6,602 | €8,186 | €4,682 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 · 1 entry · €826 awarded · €826 paidAnnual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | - | - | €957 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,854 | €15,243 | €13,057 | €14,654 | €15,220 | €6,602 | €8,186 | €4,682 | ▼ 42.8% |
| Other operating charges640/8 | - | - | - | €1,872 | €2,035 | €1,487 | €978 | €5,331 | ▲ 445% |
| Non-recurring operating charges66A | - | - | - | €958 | €1,631 | €1,688 | €1,163 | €5,379 | ▲ 363% |
| Gross operating margin9900 | €20,103 | €26,042 | €24,513 | €35,478 | €37,312 | €43,587 | €20,425 | €53,594 | ▲ 162% |
| Operating profit (loss)9901 | €5,185 | €7,174 | €9,080 | €17,993 | €18,426 | €33,810 | €9,141 | €38,202 | ▲ 318% |
| Financial income75/76B | - | - | - | €1 | €1,471 | €29 | €23 | €273 | ▲ 12× |
| Recurring financial income75 | €3 | €0 | €12 | €1 | €1,471 | €29 | €23 | €273 | ▲ 12× |
| Financial charges65/66B | - | - | - | €1,295 | €14,718 | €2,826 | €50 | €802 | ▲ 16× |
| Recurring financial charges65 | €245 | €491 | €385 | €1,295 | €14,718 | €2,826 | €50 | €802 | ▲ 16× |
| Profit (loss) for the period before taxes9903 | €4,943 | €6,684 | €8,707 | €16,699 | €5,180 | €31,012 | €9,114 | €37,673 | ▲ 313% |
| Income taxes67/77 | €2,397 | €3,640 | €4,398 | €5,680 | €3,638 | €6,580 | €3,088 | €19,630 | ▲ 536% |
| Profit (loss) for the period9904 | €2,547 | €3,043 | €4,309 | €11,020 | €1,542 | €24,432 | €6,026 | €18,043 | ▲ 199% |
| Transfer to tax-exempt reserves689 | - | - | - | - | €8 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €2,547 | €3,043 | €4,078 | €11,020 | €1,534 | €24,432 | €6,026 | €18,043 | ▲ 199% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €116,733 | €94,686 | €125,414 | €303,296 | €676,307 | €298,899 | €150,005 | €142,889 | ▼ 4.7% |
| Fixed assets21/28 | €36,123 | €27,198 | €25,373 | €26,318 | €22,202 | €17,740 | €13,545 | €5,742 | ▼ 57.6% |
| Tangible fixed assets22/27 | €36,123 | €27,198 | €25,373 | €26,318 | €22,202 | €17,740 | €13,545 | €5,742 | ▼ 57.6% |
| Plant, machinery and equipment23 | - | - | - | €4,109 | €7,824 | €596 | €2,351 | €1,740 | ▼ 26.0% |
| Furniture and vehicles24 | - | - | - | €22,209 | €14,378 | €17,143 | €11,194 | €4,003 | ▼ 64.2% |
| Current assets29/58 | €80,610 | €67,488 | €100,041 | €276,978 | €654,105 | €281,159 | €136,460 | €137,147 | ▲ 0.5% |
| Stocks and contracts in progress3 | €4,375 | €4,375 | €13,740 | €156,193 | €468,167 | - | - | - | - |
| Stocks30/36 | - | - | - | €156,193 | €468,167 | - | - | - | - |
| Amounts receivable within one year40/41 | €46,782 | €37,517 | €39,260 | €65,862 | €30,558 | €203,999 | €32,015 | €39,958 | ▲ 24.8% |
| Trade receivables40 | - | - | - | €65,862 | €27,612 | €201,843 | €31,859 | €32,278 | ▲ 1.3% |
| Other amounts receivable41 | - | - | - | - | €2,946 | €2,156 | €156 | €7,680 | ▲ 49× |
| Cash at bank and in hand54/58 | €27,358 | €23,597 | €44,002 | €52,119 | €149,077 | €75,434 | €101,795 | €92,154 | ▼ 9.5% |
| Deferred charges and accrued income490/1 | - | - | - | €2,804 | €6,304 | €1,725 | €2,650 | €5,035 | ▲ 90.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €116,733 | €94,686 | €125,414 | €303,296 | €676,307 | €298,899 | €150,005 | €142,889 | ▼ 4.7% |
| Equity10/15 | €62,575 | €65,618 | €69,927 | €80,946 | €82,488 | €106,921 | €92,946 | €110,989 | ▲ 19.4% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €5,506 | €5,506 | €7,927 | €18,946 | €20,488 | €44,921 | €30,946 | €48,989 | ▲ 58.3% |
| Non-distributable reserves130/1 | - | - | - | €689 | €689 | €689 | €689 | €3,742 | ▲ 443% |
| Legal reserve130 | - | - | - | €689 | €689 | €689 | €689 | €3,742 | ▲ 443% |
| Tax-exempt reserves132 | - | - | - | €295 | €303 | €303 | €303 | €303 | = |
| Distributable reserves133 | - | - | - | €17,962 | €19,496 | €43,929 | €29,954 | €44,944 | ▲ 50.0% |
| Profit (loss) carried forward14 | -€4,931 | -€1,888 | - | - | - | - | - | - | - |
| Amounts payable17/49 | €54,159 | €29,069 | €55,487 | €222,350 | €593,819 | €191,978 | €57,059 | €31,900 | ▼ 44.1% |
| Amounts payable after more than one year17 | €18,505 | €9,319 | - | - | €73,673 | - | - | - | - |
| Financial debts170/4 | - | - | - | - | €73,673 | - | - | - | - |
| Amounts payable within one year42/48 | €33,154 | €17,250 | €52,987 | €219,850 | €517,145 | €188,978 | €54,059 | €31,900 | ▼ 41.0% |
| Trade debts44 | €11,828 | €1,086 | €16,186 | €27,988 | €305,488 | €20,376 | €20,116 | €8,870 | ▼ 55.9% |
| Suppliers440/4 | - | - | - | €27,988 | €305,488 | €20,376 | €20,116 | €8,870 | ▼ 55.9% |
| Taxes, remuneration and social security45 | - | - | - | €21,859 | €42,748 | €48,761 | €14,563 | €13,444 | ▼ 7.7% |
| Taxes450/3 | - | - | - | €21,859 | €36,999 | €48,761 | €10,279 | €13,444 | ▲ 30.8% |
| Remuneration and social security454/9 | - | - | - | - | €5,749 | - | €4,285 | - | - |
| Other amounts payable47/48 | - | - | - | €170,003 | €168,910 | €119,842 | €19,380 | €9,586 | ▼ 50.5% |
| Accrued charges and deferred income492/3 | - | - | - | €2,500 | €3,000 | €3,000 | €3,000 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,547 | €3,043 | €4,309 | €11,020 | €1,542 | €24,432 | €6,026 | €18,043 | ▲ 199% |
| + Depreciation and write-downs630 | €13,854 | €15,243 | €13,057 | €14,654 | €15,220 | €6,602 | €8,186 | €4,682 | ▼ 42.8% |
| Operating cash flow (approximation) | €16,400 | €18,286 | €17,366 | €25,674 | €16,762 | €31,035 | €14,212 | €22,725 | ▲ 59.9% |
| Investment in fixed assets (approximation) | - | -€6,318 | -€11,231 | -€15,599 | -€11,104 | -€2,140 | -€3,991 | €3,120 | - |
| Change in cash | - | -€3,760 | €20,405 | €8,117 | €96,957 | -€73,642 | €26,361 | -€9,641 | - |
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 24 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 27-07-2026 | 2026-00343490 | |
| 31-12-2024 | micro format | 29-07-2025 | 2025-00359357 | |
| 31-12-2023 | micro format | 29-08-2024 | 2024-00431485 | |
| 31-12-2022 | micro format | 18-09-2023 | 2023-00451928 | |
| 31-12-2021 | micro format | 29-07-2022 | 2022-20252290 | |
| 31-12-2020 | micro format | 27-08-2021 | 2021-55800385 | |
| 31-12-2019 | micro format | 31-08-2020 | 2020-50200119 | |
| 31-12-2018 | micro format | 29-08-2019 | 2019-54500222 | |
| 31-12-2017 | micro format | 31-08-2018 | 2018-57200472 | |
| 31-12-2016 | micro format | 31-07-2017 | 2017-39200291 |