Financials · financial year 2025, micro format
Annual accounts 2025 filed on 30-01-2026 PDF all 5 filings
Equity
€33,124=
2024 · €33,124
Net result
€45,943▲ 259%
2024 · €12,810
Total assets
€209,944▲ 49.3%
2024 · €140,619
Solvency
15.8%▼ 7.8pp
2024 · 23.6%
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€57,020
▲ 232%
2025
20212025
Net result
€45,943
▲ 259%
2025
middle half of the sector
20212025
Equity
€33,124
=
2025
lowest quarter of the sector
20212025
Total assets
€209,944
▲ 49.3%
2025
middle half of the sector
20212025
Debt
€176,821
▲ 64.5%
2025
20212025
Working capital
€11,210
▼ 41.0%
2025
middle half of the sector
20212025
Solvency
15.8%
▼ 7.8pp
2025
lowest quarter of the sector
20212025
Current ratio
1.07
▼ 0.15
2025
middle half of the sector
20212025
Return on assets (ROA)
21.9%
▲ 12.8pp
2025
middle half of the sector
20212025
Staff (FTE)
1.2
▲ 20.0%
2025
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result€33,111--€8,780€11,093€17,155▲ 54.6%€57,020▲ 232%
Net result€21,434within the sector's middle half--€10,336below the sector's middle half€7,215within the sector's middle half€12,810within the sector's middle half▲ 77.5%€45,943within the sector's middle half▲ 259%
Equity€23,434below the sector's middle half-€13,099below the sector's middle half▼ 44.1%€20,314below the sector's middle half▲ 55.1%€33,124below the sector's middle half▲ 63.1%€33,124below the sector's middle half=
Total assets€107,280below the sector's middle half-€84,118below the sector's middle half▼ 21.6%€135,422within the sector's middle half▲ 61.0%€140,619within the sector's middle half▲ 3.8%€209,944within the sector's middle half▲ 49.3%
Debt€83,845-€71,019▼ 15.3%€115,108▲ 62.1%€107,495▼ 6.6%€176,821▲ 64.5%
Working capital€8,252within the sector's middle half--€4,015within the sector's middle half€9,541within the sector's middle half€19,000within the sector's middle half▲ 99.1%€11,210within the sector's middle half▼ 41.0%
Solvency21.8%below the sector's middle half-15.6%below the sector's middle half▼ 6.3pp15.0%below the sector's middle half▼ 0.6pp23.6%below the sector's middle half▲ 8.6pp15.8%below the sector's middle half▼ 7.8pp
Current ratio1.14within the sector's middle half-0.93within the sector's middle half▼ 0.211.12within the sector's middle half▲ 0.191.22within the sector's middle half▲ 0.101.07within the sector's middle half▼ 0.15
Return on assets (ROA)20.0%within the sector's middle half--12.3%below the sector's middle half▼ 32.3pp5.3%within the sector's middle half▲ 17.6pp9.1%within the sector's middle half▲ 3.8pp21.9%within the sector's middle half▲ 12.8pp
Staff (FTE)0.31▲ 233%1.2▲ 20.0%
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 over 3.3 times that of 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
Turnover and EBIT margin are not published. The 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 €209,944
Fixed assets
€33,361 ▼ 6.7%
Current assets
€176,583 ▲ 68.4%
Equity and liabilities €209,944
Equity
€33,124 =
Debt
€176,821 ▲ 64.5%
Debt's share of the balance-sheet total rises from 76.4% to 84.2%. Debt is higher.
Key figures and ratios
ROE
138.7%▲
2024 · 38.7%
Debt ≤ 1 year
€165,373▲
2024 · €85,867
Debt > 1 year
€11,425▼
2024 · €21,606
Income taxes
€13,344▲
2024 · €5,322
Staff costs
€60,941▲
2024 · €40,069
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 2 |
| full-time | 0 | 0 | 1 |
| part-time | 1 | 1 | 1 |
| in full-time equivalents | 0.8 | 0.8 | 1.8 |
| Average over the year, in full-time equivalents | 0.2 | 0.8 | 1.2 |
| On a permanent contract | 1 | 1 | 2 |
| Joined | 1 | - | 1 |
| Left | 0 | - | 0 |
Source: social balance sheet in the 2023 to 2025 annual accounts
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | €41,306 | - | €6,348 |
| Financial fixed assets | - | €2,610 | - | - |
| Depreciation and write-downs of the year | €10,193 | €1,164 | €8,724 | €8,738 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 · 1 entry · €270 awarded · €270 paidAnnual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €7,368 | €40,069 | €60,941 | ▲ 52.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,803 | €10,193 | €1,164 | €8,724 | €8,738 | ▲ 0.2% |
| Other operating charges640/8 | - | €3,068 | €2,494 | €3,873 | €2,405 | ▼ 37.9% |
| Non-recurring operating charges66A | - | - | €19,243 | €0 | - | - |
| Gross operating margin9900 | €47,859 | €4,481 | €41,363 | €69,820 | €129,105 | ▲ 84.9% |
| Operating profit (loss)9901 | €33,111 | -€8,780 | €11,093 | €17,155 | €57,020 | ▲ 232% |
| Financial income75/76B | - | €77 | €2,632 | €2,865 | €3,962 | ▲ 38.3% |
| Recurring financial income75 | - | €77 | €2,632 | €2,865 | €3,962 | ▲ 38.3% |
| Financial charges65/66B | - | €784 | €1,006 | €1,888 | €1,695 | ▼ 10.2% |
| Recurring financial charges65 | €702 | €784 | €1,006 | €1,888 | €1,695 | ▼ 10.2% |
| Profit (loss) for the period before taxes9903 | €32,409 | -€9,487 | €12,719 | €18,132 | €59,287 | ▲ 227% |
| Income taxes67/77 | €10,975 | €848 | €5,503 | €5,322 | €13,344 | ▲ 151% |
| Profit (loss) for the period9904 | €21,434 | -€10,336 | €7,215 | €12,810 | €45,943 | ▲ 259% |
| Profit (loss) for the period to be appropriated9905 | €21,434 | -€10,336 | €7,215 | €12,810 | €45,943 | ▲ 259% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €107,280 | €84,118 | €135,422 | €140,619 | €209,944 | ▲ 49.3% |
| Fixed assets21/28 | €41,160 | €30,967 | €44,475 | €35,752 | €33,361 | ▼ 6.7% |
| Tangible fixed assets22/27 | €41,160 | €30,967 | €41,865 | €33,142 | €30,751 | ▼ 7.2% |
| Furniture and vehicles24 | - | €1,724 | €1,261 | €799 | €6,670 | ▲ 735% |
| Leasing and similar rights25 | - | €29,243 | €40,604 | €32,343 | €24,082 | ▼ 25.5% |
| Financial fixed assets28 | - | - | €2,610 | €2,610 | €2,610 | = |
| Current assets29/58 | €66,120 | €53,151 | €90,947 | €104,867 | €176,583 | ▲ 68.4% |
| Amounts receivable within one year40/41 | €59,965 | €45,055 | €65,306 | €101,090 | €137,896 | ▲ 36.4% |
| Trade receivables40 | - | €18,489 | €15,328 | €31,008 | €65,426 | ▲ 111% |
| Other amounts receivable41 | - | €26,566 | €49,978 | €70,082 | €72,470 | ▲ 3.4% |
| Cash at bank and in hand54/58 | €4,080 | €7,058 | €23,851 | €136 | €36,528 | ▲ 269× |
| Deferred charges and accrued income490/1 | - | €1,038 | €1,790 | €3,641 | €2,159 | ▼ 40.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €107,280 | €84,118 | €135,422 | €140,619 | €209,944 | ▲ 49.3% |
| Equity10/15 | €23,434 | €13,099 | €20,314 | €33,124 | €33,124 | = |
| Contributions10/11 | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves13 | €21,434 | €21,434 | €21,434 | €31,124 | €31,124 | = |
| Distributable reserves133 | - | €21,434 | €21,434 | €31,124 | €31,124 | = |
| Profit (loss) carried forward14 | - | -€10,336 | -€3,120 | €0 | €0 | - |
| Amounts payable17/49 | €83,845 | €71,019 | €115,108 | €107,495 | €176,821 | ▲ 64.5% |
| Amounts payable after more than one year17 | €25,977 | €13,854 | €32,832 | €21,606 | €11,425 | ▼ 47.1% |
| Financial debts170/4 | - | €13,854 | €32,832 | €21,606 | €11,425 | ▼ 47.1% |
| Amounts payable within one year42/48 | €57,868 | €57,165 | €81,406 | €85,867 | €165,373 | ▲ 92.6% |
| Current portion of amounts payable after more than one year42 | - | €12,124 | €21,577 | €11,226 | €10,181 | ▼ 9.3% |
| Financial debts43 | - | - | €5,000 | €7,500 | €15,000 | ▲ 100% |
| Other loans439 | - | - | €5,000 | €7,500 | €15,000 | ▲ 100% |
| Trade debts44 | €28,286 | €5,699 | €7,308 | €21,731 | €43,086 | ▲ 98.3% |
| Suppliers440/4 | - | €5,699 | €7,308 | €21,731 | €43,086 | ▲ 98.3% |
| Advances received on contracts in progress46 | - | €35,000 | €35,000 | €35,000 | €36,394 | ▲ 4.0% |
| Taxes, remuneration and social security45 | - | €4,342 | €12,521 | €10,410 | €21,660 | ▲ 108% |
| Taxes450/3 | - | €4,342 | €11,812 | €6,576 | €21,660 | ▲ 229% |
| Remuneration and social security454/9 | - | - | €709 | €3,834 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | - | €39,052 | - |
| Accrued charges and deferred income492/3 | - | - | €870 | €22 | €23 | ▲ 3.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €21,434 | -€10,336 | €7,215 | €12,810 | €45,943 | ▲ 259% |
| + Depreciation and write-downs630 | €9,803 | €10,193 | €1,164 | €8,724 | €8,738 | ▲ 0.2% |
| Operating cash flow (approximation) | €31,238 | -€143 | €8,380 | €21,533 | €54,681 | ▲ 154% |
| Investment in fixed assets (approximation) | - | €0 | -€14,672 | €0 | -€6,348 | - |
| Change in cash | - | €2,978 | €16,793 | -€23,715 | €36,392 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 30-01-2026 | 2026-00020903 | |
| 30-06-2024 | micro format | 13-12-2024 | 2024-00615333 | |
| 30-06-2023 | micro format | 30-01-2024 | 2024-00012810 | |
| 30-06-2022 | micro format | 22-12-2022 | 2022-20543360 | |
| 30-06-2021 | micro format | 07-12-2021 | 2021-79500384 |