Summary
FinWin is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €787,151 and a net result of -€37,778. Equity is shrinking by about 2.9% per year across the filed financial years. Its solvency ranks better than 59% of 6,658 sector peers (NACE 64, financial year 2025). The company has been active since 2005 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, abbreviated format
Equity
€787,151▼ 4.6%
2024 · €824,929
Net result
-€37,778▼ 23.3%
2024 · -€30,632
Total assets
€1.3m▼ 2.1%
2024 · €1.3m
Solvency
60.9%▼ 1.6pp
2024 · 62.5%
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €38,419 in 2025 against €30,341 in 2024; the loss grows.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€0.6m
2025
Operating result-€0.04m
2025
Net result-€0.04m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€1.3m
2025
Equity€0.8m
2025
Debt€0.5m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€0.01m
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)-2.9%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency60.9%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.24
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)5
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€0.5m-€0.5m▼ 0.6%€0.2m▼ 55.9%€0.4m▲ 60.8%€0.5m▲ 38.0%€0.7m▲ 25.3%€0.6m▼ 15.8%€0.6m▲ 1.8%
Operating result-€0.06m--€0.07m▼ 12.0%-€0.04m▲ 43.3%-€0.02m▲ 52.9%-€0.04m▼ 132%-€0.006m▲ 84.9%-€0.03m▼ 378%-€0.04m▼ 26.6%
Net result-€0.06m--€0.07m▼ 11.7%-€0.04mbelow the sector's middle half▲ 42.9%-€0.02mbelow the sector's middle half▲ 53.0%-€0.04mbelow the sector's middle half▼ 132%-€0.006mbelow the sector's middle half▲ 84.9%-€0.03mbelow the sector's middle half▼ 381%-€0.04mbelow the sector's middle half▼ 23.3%
Equity€0.4m-€1.0m▲ 124%€0.9mwithin the sector's middle half▼ 4.0%€0.9mwithin the sector's middle half▼ 2.0%€0.9mwithin the sector's middle half▼ 4.7%€0.9mwithin the sector's middle half▼ 0.7%€0.8mwithin the sector's middle half▼ 3.6%€0.8mwithin the sector's middle half▼ 4.6%
Total assets€1.6m-€1.6m▼ 4.6%€1.5mwithin the sector's middle half▼ 3.8%€1.5mwithin the sector's middle half▼ 2.6%€1.4mwithin the sector's middle half▼ 1.0%€1.4mwithin the sector's middle half▼ 2.8%€1.3mwithin the sector's middle half▼ 5.9%€1.3mwithin the sector's middle half▼ 2.1%
Debt€1.2m-€0.6m▼ 50.6%€0.6m▼ 3.3%€0.6m▼ 3.6%€0.6m▲ 4.9%€0.5m▼ 5.8%€0.5m▼ 9.4%€0.5m▲ 2.1%
Working capital€0.03m-€0.04m▲ 39.1%€0.03mwithin the sector's middle half▼ 13.0%€0.07mwithin the sector's middle half▲ 112%€0.03mwithin the sector's middle half▼ 59.8%€0.07mwithin the sector's middle half▲ 154%€0.08mwithin the sector's middle half▲ 10.6%€0.01mwithin the sector's middle half▼ 84.0%
Solvency26.3%-61.8%▲ 35.5pp61.6%within the sector's middle half▼ 0.2pp62.0%within the sector's middle half▲ 0.4pp59.8%within the sector's middle half▼ 2.3pp61.0%within the sector's middle half▲ 1.3pp62.5%within the sector's middle half▲ 1.5pp60.9%within the sector's middle half▼ 1.6pp
Current ratio1.82-1.83▲ 0.012.07within the sector's middle half▲ 0.243.19above the sector's middle half▲ 1.111.48within the sector's middle half▼ 1.712.15within the sector's middle half▲ 0.662.57within the sector's middle half▲ 0.431.24within the sector's middle half▼ 1.33
Return on assets (ROA)-3.7%--4.4%▼ 0.6pp-2.6%below the sector's middle half▲ 1.8pp-1.2%below the sector's middle half▲ 1.3pp-2.9%below the sector's middle half▼ 1.7pp-0.5%below the sector's middle half▲ 2.5pp-2.3%below the sector's middle half▼ 1.9pp-2.9%below the sector's middle half▼ 0.6pp
Staff (FTE)3.5-2.2▼ 37.1%2.7within the sector's middle half▲ 22.7%2.4within the sector's middle half▼ 11.1%3above the sector's middle half▲ 25.0%4above the sector's middle half▲ 33.3%5above the sector's middle half▲ 25.0%5above the sector's middle half=
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.3m
Fixed assets
€1.2m ▲ 3.0%
Current assets
€62,293 ▼ 50.1%
Equity and liabilities €1.3m
Equity
€787,151 ▼ 4.6%
Debt
€505,621 ▲ 2.1%
Debt's share of the balance-sheet total rises from 37.5% to 39.1%. Equity is lower and debt is higher.
Key figures and ratios
ROE
-4.8%▼
2024 · -3.7%
Debt ≤ 1 year
€50,101▲
2024 · €48,593
Debt > 1 year
€455,520▲
2024 · €446,520
Staff costs
€173,524▼
2024 · €176,109
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €541,193 | €537,862 | €237,197 | €381,359 | €526,436 | €659,870 | €555,651 | €565,673 | ▲ 1.8% |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €214,755 | €266,257 | €351,952 | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €91,767 | €171,043 | €206,432 | €176,109 | €173,524 | ▼ 1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €126,785 | €133,852 | €62,480 | €112,527 | €119,444 | €96,173 | €96,349 | €105,382 | ▲ 9.4% |
| Other operating charges640/8 | - | - | - | €10,651 | €14,086 | €13,413 | €13,838 | €14,202 | ▲ 2.6% |
| Gross operating margin9900 | €227,642 | €232,652 | €120,026 | €196,866 | €262,595 | €309,670 | €255,955 | €254,689 | ▼ 0.5% |
| Operating profit (loss)9901 | -€60,517 | -€67,749 | -€38,406 | -€18,079 | -€41,978 | -€6,348 | -€30,341 | -€38,419 | ▼ 26.6% |
| Financial income75/76B | - | - | - | - | - | €123 | €15 | €809 | ▲ 54× |
| Recurring financial income75 | - | - | - | - | - | €123 | €15 | €809 | ▲ 54× |
| Financial charges65/66B | - | - | - | €93 | €103 | €145 | €306 | €168 | ▼ 45.1% |
| Recurring financial charges65 | €139 | €21 | €260 | €93 | €103 | €145 | €306 | €168 | ▼ 45.1% |
| Profit (loss) for the period before taxes9903 | -€60,656 | -€67,770 | -€38,666 | -€18,172 | -€42,081 | -€6,370 | -€30,632 | -€37,778 | ▼ 23.3% |
| Profit (loss) for the period9904 | -€60,656 | -€67,770 | -€38,666 | -€18,172 | -€42,081 | -€6,370 | -€30,632 | -€37,778 | ▼ 23.3% |
| Profit (loss) for the period to be appropriated9905 | -€60,656 | -€67,770 | -€38,666 | -€18,172 | -€42,081 | -€6,370 | -€30,632 | -€37,778 | ▼ 23.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.6m | €1.6m | €1.5m | €1.5m | €1.4m | €1.4m | €1.3m | €1.3m | ▼ 2.1% |
| Formation expenses20 | - | €0.002m | €0.001m | €0.001m | €0.001m | €204 | €0 | - | - |
| Fixed assets21/28 | €1.6m | €1.5m | €1.4m | €1.4m | €1.4m | €1.3m | €1.2m | €1.2m | ▲ 3.0% |
| Tangible fixed assets22/27 | €1.6m | €1.5m | €1.4m | €1.4m | €1.4m | €1.3m | €1.2m | €1.2m | ▲ 3.0% |
| Land and buildings22 | - | - | - | €1.3m | €1.2m | €1.1m | €1.1m | €1.0m | ▼ 6.2% |
| Furniture and vehicles24 | - | - | - | €0.08m | €0.2m | €0.1m | €0.1m | €0.2m | ▲ 84.9% |
| Financial fixed assets28 | €415 | €390 | €390 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Current assets29/58 | €0.06m | €0.08m | €0.06m | €0.1m | €0.08m | €0.1m | €0.1m | €0.06m | ▼ 50.1% |
| Stocks and contracts in progress3 | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | ▼ 3.0% |
| Stocks30/36 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | ▼ 3.0% |
| Amounts receivable within one year40/41 | €0.009m | €0.03m | €0.008m | €0.004m | €0.005m | €0.01m | €0.003m | €0.001m | ▼ 77.9% |
| Trade receivables40 | - | - | - | €0.004m | €0.005m | €0.01m | €0.003m | €0.001m | ▼ 80.6% |
| Other amounts receivable41 | - | - | - | - | - | €36 | €36 | €84 | ▲ 133% |
| Cash at bank and in hand54/58 | €0.04m | €0.04m | €0.04m | €0.08m | €0.06m | €0.1m | €0.1m | €0.05m | ▼ 55.8% |
| Deferred charges and accrued income490/1 | - | - | - | €0.002m | €0.005m | €0.002m | €0.002m | €0.002m | = |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.6m | €1.6m | €1.5m | €1.5m | €1.4m | €1.4m | €1.3m | €1.3m | ▼ 2.1% |
| Equity10/15 | €0.4m | €1.0m | €0.9m | €0.9m | €0.9m | €0.9m | €0.8m | €0.8m | ▼ 4.6% |
| Contributions10/11 | €1.0m | - | - | €1.0m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Reserves13 | €0.002m | - | - | - | - | - | - | - | - |
| Profit (loss) carried forward14 | -€0.6m | -€0.07m | -€0.1m | -€0.1m | -€0.2m | -€0.2m | -€0.2m | -€0.2m | ▼ 18.5% |
| Amounts payable17/49 | €1.2m | €0.6m | €0.6m | €0.6m | €0.6m | €0.5m | €0.5m | €0.5m | ▲ 2.1% |
| Amounts payable after more than one year17 | €1.2m | €0.5m | €0.5m | €0.5m | €0.5m | €0.5m | €0.4m | €0.5m | ▲ 2.0% |
| Other amounts payable178/9 | - | - | - | €0.5m | €0.5m | €0.5m | €0.4m | €0.5m | ▲ 2.0% |
| Amounts payable within one year42/48 | €0.03m | €0.04m | €0.03m | €0.03m | €0.06m | €0.06m | €0.05m | €0.05m | ▲ 3.1% |
| Trade debts44 | €0.02m | €0.02m | €0.02m | €0.004m | €0.02m | €0.03m | €0.02m | €0.02m | ▲ 15.2% |
| Suppliers440/4 | - | - | - | €0.004m | €0.02m | €0.03m | €0.02m | €0.02m | ▲ 15.2% |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0.02m | €0.03m | €0.02m | €0.02m | ▼ 18.1% |
| Taxes450/3 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.008m | ▼ 28.6% |
| Remuneration and social security454/9 | - | - | - | €33 | €0.01m | €0.01m | €0.01m | €0.01m | ▼ 7.3% |
| Other amounts payable47/48 | - | - | - | €0.01m | €0.01m | €0.009m | €0.008m | €0.01m | ▲ 32.1% |
| Accrued charges and deferred income492/3 | - | - | - | €0.02m | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€60,656 | -€67,770 | -€38,666 | -€18,172 | -€42,081 | -€6,370 | -€30,632 | -€37,778 | ▼ 23.3% |
| + Depreciation and write-downs630 | €126,785 | €133,852 | €62,480 | €112,527 | €119,444 | €96,173 | €96,349 | €105,382 | ▲ 9.4% |
| Operating cash flow (approximation) | €66,129 | €66,082 | €23,814 | €94,355 | €77,363 | €89,803 | €65,717 | €67,604 | ▲ 2.9% |
| Investment in fixed assets (approximation) | - | -€34,536 | -€23,395 | -€37,136 | -€119,670 | -€10,898 | -€18,653 | -€140,751 | ▼ 655% |
| Change in cash | - | €1,632 | -€472 | €41,727 | -€18,855 | €41,723 | €4,581 | -€60,034 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 21 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 06-06-2026 | 2026-00141416 |
| 31-12-2024 | abbreviated format | 03-06-2025 | 2025-00115433 |
| 31-12-2023 | abbreviated format | 17-06-2024 | 2024-00132991 |
| 31-12-2022 | abbreviated format | 05-06-2023 | 2023-00106234 |
| 31-12-2021 | abbreviated format | 06-06-2022 | 2022-20047136 |
| 31-12-2020 | abbreviated format | 15-06-2021 | 2021-19700123 |
| 31-12-2019 | abbreviated format | 19-06-2020 | 2020-18000453 |
| 31-12-2018 | abbreviated format | 13-06-2019 | 2019-17700581 |
| 31-12-2017 | abbreviated format | 06-06-2018 | 2018-15900109 |
| 31-12-2016 | abbreviated format | 01-06-2017 | 2017-13900461 |
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Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.