Financials · financial year 2025, micro format
Annual accounts 2025 filed on 07-07-2026 at the NBB all 34 filings
Equity
€103,801▼ 18.6%
2024 · €127,495
Net result
-€5,945▼ 10.3%
2024 · -€5,389
Total assets
€142,308▼ 42.3%
2024 · €246,464
Solvency
72.9%▲ 21.2pp
2024 · 51.7%
In the rankings
#2 oldest company in Oudenburg, Finance and insurance sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€4,798
▼ 72.8%
2025
20182025
Net result
-€5,945
▼ 10.3%
2025
lowest quarter of the sector
20182025
Equity
€103,801
▼ 18.6%
2025
middle half of the sector
20182025
Total assets
€142,308
▼ 42.3%
2025
middle half of the sector
20182025
Debt
€38,507
▼ 67.6%
2025
20182025
Working capital
-€7,726
2025
middle half of the sector
20182025
Solvency
72.9%
▲ 21.2pp
2025
middle half of the sector
20182025
Current ratio
0.78
▼ 0.31
2025
middle half of the sector
20182025
Return on assets (ROA)
-4.2%
▼ 2.0pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€31,663--€4,735€48,632-€15,024€18,284€22,056▲ 20.6%-€2,777-€4,798▼ 72.8%
Net result€17,749--€17,757€27,589within the sector's middle half-€18,872below the sector's middle half€12,521within the sector's middle half€16,753within the sector's middle half▲ 33.8%-€5,389below the sector's middle half-€5,945below the sector's middle half▼ 10.3%
Equity€254,009-€236,251▼ 7.0%€170,909within the sector's middle half▼ 27.7%€152,037below the sector's middle half▼ 11.0%€117,731below the sector's middle half▼ 22.6%€132,884below the sector's middle half▲ 12.9%€127,495within the sector's middle half▼ 4.1%€103,801within the sector's middle half▼ 18.6%
Total assets€856,157-€717,617▼ 16.2%€418,717within the sector's middle half▼ 41.7%€335,360below the sector's middle half▼ 19.9%€324,421below the sector's middle half▼ 3.3%€323,169below the sector's middle half▼ 0.4%€246,464within the sector's middle half▼ 23.7%€142,308within the sector's middle half▼ 42.3%
Debt€602,149-€481,366▼ 20.1%€247,809▼ 48.5%€183,323▼ 26.0%€206,690▲ 12.7%€190,285▼ 7.9%€118,969▼ 37.5%€38,507▼ 67.6%
Working capital€55,596-€34,839▼ 37.3%€68,282within the sector's middle half▲ 96.0%€45,265within the sector's middle half▼ 33.7%€5,883within the sector's middle half▼ 87.0%€15,438within the sector's middle half▲ 162%€9,199within the sector's middle half▼ 40.4%-€7,726within the sector's middle half
Solvency29.7%-32.9%▲ 3.3pp40.8%within the sector's middle half▲ 7.9pp45.3%within the sector's middle half▲ 4.5pp36.3%within the sector's middle half▼ 9.0pp41.1%within the sector's middle half▲ 4.8pp51.7%within the sector's middle half▲ 10.6pp72.9%within the sector's middle half▲ 21.2pp
Current ratio1.20-1.14▼ 0.061.52within the sector's middle half▲ 0.381.49within the sector's middle half▼ 0.031.04within the sector's middle half▼ 0.451.10within the sector's middle half▲ 0.061.09within the sector's middle half▼ 0.010.78within the sector's middle half▼ 0.31
Return on assets (ROA)2.1%--2.5%▼ 4.5pp6.6%within the sector's middle half▲ 9.1pp-5.6%below the sector's middle half▼ 12.2pp3.9%within the sector's middle half▲ 9.5pp5.2%within the sector's middle half▲ 1.3pp-2.2%below the sector's middle half▼ 7.4pp-4.2%below the sector's middle half▼ 2.0pp
Staff (FTE)3.3-3.2▼ 3.0%0.3below the sector's middle half▼ 90.6%
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 a loss of €4,798, larger than the loss of €2,777 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 €142,308
Fixed assets
€114,618 ▼ 15.8%
Current assets
€27,690 ▼ 74.9%
Equity and liabilities €142,308
Equity
€103,801 ▼ 18.6%
Debt
€38,507 ▼ 67.6%
Debt's share of the balance-sheet total falls from 48.3% to 27.1%. Equity and debt are lower.
Key figures and ratios
ROE
-5.7%▼
2024 · -4.2%
Debt ≤ 1 year
€35,417▼
2024 · €101,177
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2025 |
|---|---|
| Employees at the balance-sheet date | 0 |
| full-time | 0 |
| part-time | 0 |
Source: social balance sheet in the 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €116,111 | €90,778 | €65,445 | - | - |
| Mortgages, amount registered | €380,000 | €380,000 | €380,000 | €380,000 | €380,000 |
| Carrying value of the mortgaged assets | €178,970 | €159,084 | €139,199 | €119,313 | €99,428 |
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 | - | €30,300 | - | - | - |
| Depreciation and write-downs of the year | €21,188 | €21,345 | €21,470 | €21,470 | €21,470 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €8,561 | - | - |
| Remuneration, social security and pensions62 | - | - | - | -€153 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €106,650 | €111,893 | €21,188 | €21,188 | €21,345 | €21,470 | €21,470 | €21,470 | = |
| Other operating charges640/8 | - | - | - | €8,246 | €4,851 | €7,049 | €5,326 | €4,950 | ▼ 7.0% |
| Gross operating margin9900 | €301,746 | €273,008 | €141,625 | €14,256 | €44,480 | €50,574 | €24,018 | €21,622 | ▼ 10.0% |
| Operating profit (loss)9901 | €31,663 | -€4,735 | €48,632 | -€15,024 | €18,284 | €22,056 | -€2,777 | -€4,798 | ▼ 72.8% |
| Financial income75/76B | - | - | - | €2,250 | €2,284 | €2,250 | €3 | - | - |
| Recurring financial income75 | €5,012 | €456 | €411 | €2,250 | €2,284 | €2,250 | €3 | - | - |
| Financial charges65/66B | - | - | - | €5,196 | €6,436 | €3,132 | €2,581 | €1,147 | ▼ 55.6% |
| Recurring financial charges65 | €13,046 | €13,160 | €7,956 | €5,196 | €6,436 | €3,132 | €2,581 | €1,147 | ▼ 55.6% |
| Profit (loss) for the period before taxes9903 | €23,629 | -€17,439 | €41,086 | -€17,971 | €14,133 | €21,173 | -€5,355 | -€5,945 | ▼ 11.0% |
| Income taxes67/77 | €5,881 | €318 | €13,497 | €901 | €1,612 | €4,420 | €34 | - | - |
| Profit (loss) for the period9904 | €17,749 | -€17,757 | €27,589 | -€18,872 | €12,521 | €16,753 | -€5,389 | -€5,945 | ▼ 10.3% |
| Profit (loss) for the period to be appropriated9905 | €17,749 | -€17,757 | €29,521 | -€18,872 | €12,521 | €16,753 | -€5,389 | -€5,945 | ▼ 10.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €856,157 | €717,617 | €418,717 | €335,360 | €324,421 | €323,169 | €246,464 | €142,308 | ▼ 42.3% |
| Fixed assets21/28 | €517,365 | €427,254 | €218,738 | €197,550 | €179,027 | €157,557 | €136,088 | €114,618 | ▼ 15.8% |
| Tangible fixed assets22/27 | €515,375 | €417,539 | €209,273 | €188,085 | €169,562 | €148,092 | €126,623 | €105,153 | ▼ 17.0% |
| Land and buildings22 | - | - | - | €188,085 | €169,562 | €148,092 | €126,623 | €105,153 | ▼ 17.0% |
| Financial fixed assets28 | €1,990 | €9,715 | €9,465 | €9,465 | €9,465 | €9,465 | €9,465 | €9,465 | = |
| Current assets29/58 | €338,793 | €290,363 | €199,980 | €137,810 | €145,394 | €165,612 | €110,376 | €27,690 | ▼ 74.9% |
| Amounts receivable after more than one year29 | - | - | - | €75,000 | €75,000 | €75,000 | - | - | - |
| Other amounts receivable291 | - | - | - | €75,000 | €75,000 | €75,000 | - | - | - |
| Stocks and contracts in progress3 | €34,182 | €19,340 | - | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €162,186 | €140,228 | €96,398 | €19,041 | €14,655 | €3,940 | €5,966 | €9,705 | ▲ 62.7% |
| Trade receivables40 | - | - | - | €12,405 | €12,384 | - | - | €3,739 | - |
| Other amounts receivable41 | - | - | - | €6,636 | €2,271 | €3,940 | €5,966 | €5,966 | = |
| Cash at bank and in hand54/58 | €133,872 | €126,895 | €99,608 | €38,779 | €55,341 | €83,211 | €104,001 | €17,564 | ▼ 83.1% |
| Deferred charges and accrued income490/1 | - | - | - | €4,989 | €398 | €3,461 | €409 | €422 | ▲ 3.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €856,157 | €717,617 | €418,717 | €335,360 | €324,421 | €323,169 | €246,464 | €142,308 | ▼ 42.3% |
| Equity10/15 | €254,009 | €236,251 | €170,909 | €152,037 | €117,731 | €132,884 | €127,495 | €103,801 | ▼ 18.6% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Contributions outside capital11 | - | - | - | - | - | - | €18,600 | - | - |
| Other1109/19 | - | - | - | - | - | - | €18,600 | - | - |
| Reserves13 | €235,409 | €217,651 | €152,309 | €133,437 | €99,131 | €114,284 | €108,895 | €85,201 | ▼ 21.8% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €131,577 | €97,271 | €114,284 | €108,895 | €85,201 | ▼ 21.8% |
| Amounts payable17/49 | €602,149 | €481,366 | €247,809 | €183,323 | €206,690 | €190,285 | €118,969 | €38,507 | ▼ 67.6% |
| Amounts payable after more than one year17 | €318,952 | €225,842 | €116,111 | €90,778 | €65,445 | €40,111 | €14,778 | - | - |
| Financial debts170/4 | - | - | - | €90,778 | €65,445 | €40,111 | €14,778 | - | - |
| Amounts payable within one year42/48 | €283,197 | €255,524 | €131,697 | €92,545 | €139,511 | €150,174 | €101,177 | €35,417 | ▼ 65.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €25,333 | €25,333 | €25,333 | €25,333 | €14,778 | ▼ 41.7% |
| Trade debts44 | €99,142 | €60,859 | €4,519 | €1,684 | €1,233 | €2,717 | €1,151 | €1,216 | ▲ 5.6% |
| Suppliers440/4 | - | - | - | €1,684 | €1,233 | €2,717 | €1,151 | €1,216 | ▲ 5.6% |
| Taxes, remuneration and social security45 | - | - | - | €4,416 | €5,356 | €13,530 | €3,516 | €1,431 | ▼ 59.3% |
| Taxes450/3 | - | - | - | €4,416 | €5,356 | €13,530 | €3,516 | €1,431 | ▼ 59.3% |
| Other amounts payable47/48 | - | - | - | €61,112 | €107,589 | €108,594 | €71,176 | €17,991 | ▼ 74.7% |
| Accrued charges and deferred income492/3 | - | - | - | - | €1,735 | - | €3,014 | €3,090 | ▲ 2.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,749 | -€17,757 | €27,589 | -€18,872 | €12,521 | €16,753 | -€5,389 | -€5,945 | ▼ 10.3% |
| + Depreciation and write-downs630 | €106,650 | €111,893 | €21,188 | €21,188 | €21,345 | €21,470 | €21,470 | €21,470 | = |
| Operating cash flow (approximation) | €124,399 | €94,135 | €48,777 | €2,316 | €33,866 | €38,223 | €16,081 | €15,525 | ▼ 3.5% |
| Investment in fixed assets (approximation) | - | -€21,783 | €187,329 | €0 | -€2,822 | €0 | €0 | €0 | - |
| Change in cash | - | -€6,976 | -€27,287 | -€60,829 | €16,562 | €27,870 | €20,790 | -€86,437 | - |
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 34 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 07-07-2026 | 2026-00261503 | |
| 31-12-2024 | micro format | 08-07-2025 | 2025-00243492 | |
| 31-12-2023 | abbreviated format | 03-07-2024 | 2024-00206702 | |
| 31-12-2022 | abbreviated format | 12-07-2023 | 2023-00227528 | |
| 31-12-2021 | abbreviated format | 03-06-2022 | 2022-20044935 | |
| 31-12-2020 | micro format | 04-06-2021 | 2021-17500340 | |
| 31-12-2019 | abbreviated format | 12-06-2020 | 2020-17300283 | |
| 31-12-2018 | abbreviated format | 26-08-2019 | 2019-51300272 | |
| 31-12-2017 | abbreviated format | 13-06-2018 | 2018-18300324 | |
| 31-12-2016 | abbreviated format | 20-07-2017 | 2017-34300129 |