Financials · financial year 2025, micro format
Annual accounts 2025 filed on 28-11-2025 PDF all 9 filings
Equity
€121,952▲ 17.8%
2024 · €103,525
Net result
€48,427▲ 20×
2024 · €2,417
Total assets
€148,075▲ 28.2%
2024 · €115,458
Solvency
82.4%▼ 7.3pp
2024 · 89.7%
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€59,853
▲ 370%
2025
20192025
Net result
€48,427
▲ 20×
2025
middle half of the sector
20192025
Equity
€121,952
▲ 17.8%
2025
middle half of the sector
20192025
Total assets
€148,075
▲ 28.2%
2025
middle half of the sector
20192025
Debt
€26,123
▲ 119%
2025
20192025
Working capital
€112,750
▲ 21.4%
2025
middle half of the sector
20192025
Solvency
82.4%
▼ 7.3pp
2025
highest quarter of the sector
20192025
Current ratio
5.32
▼ 3.46
2025
highest quarter of the sector
20192025
Return on assets (ROA)
32.7%
▲ 30.6pp
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-€1,653--€10,629▼ 543%€36,019€39,285▲ 9.1%€40,194▲ 2.3%€12,727▼ 68.3%€59,853▲ 370%
Net result-€1,903--€12,469below the sector's middle half▼ 555%€26,920within the sector's middle half€27,950within the sector's middle half▲ 3.8%€28,235within the sector's middle half▲ 1.0%€2,417below the sector's middle half▼ 91.4%€48,427within the sector's middle half▲ 20×
Equity€30,471-€18,002below the sector's middle half▼ 40.9%€44,922within the sector's middle half▲ 150%€72,872within the sector's middle half▲ 62.2%€101,107within the sector's middle half▲ 38.7%€103,525within the sector's middle half▲ 2.4%€121,952within the sector's middle half▲ 17.8%
Total assets€118,725-€80,060below the sector's middle half▼ 32.6%€118,715below the sector's middle half▲ 48.3%€517,002within the sector's middle half▲ 335%€138,500within the sector's middle half▼ 73.2%€115,458below the sector's middle half▼ 16.6%€148,075within the sector's middle half▲ 28.2%
Debt€88,254-€62,058▼ 29.7%€73,793▲ 18.9%€444,130▲ 502%€37,393▼ 91.6%€11,934▼ 68.1%€26,123▲ 119%
Working capital€5,342--€5,270within the sector's middle half€23,556within the sector's middle half€50,212within the sector's middle half▲ 113%€82,174within the sector's middle half▲ 63.7%€92,852within the sector's middle half▲ 13.0%€112,750within the sector's middle half▲ 21.4%
Solvency25.7%-22.5%below the sector's middle half▼ 3.2pp37.8%within the sector's middle half▲ 15.4pp14.1%below the sector's middle half▼ 23.7pp73.0%within the sector's middle half▲ 58.9pp89.7%above the sector's middle half▲ 16.7pp82.4%above the sector's middle half▼ 7.3pp
Current ratio1.15-0.78within the sector's middle half▼ 0.371.48within the sector's middle half▲ 0.701.12within the sector's middle half▼ 0.363.20within the sector's middle half▲ 2.088.78above the sector's middle half▲ 5.585.32above the sector's middle half▼ 3.46
Return on assets (ROA)-1.6%--15.6%below the sector's middle half▼ 14.0pp22.7%within the sector's middle half▲ 38.2pp5.4%within the sector's middle half▼ 17.3pp20.4%within the sector's middle half▲ 15.0pp2.1%within the sector's middle half▼ 18.3pp32.7%above the sector's middle half▲ 30.6pp
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 4.7 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 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 €148,075
Fixed assets
€9,202 ▼ 13.8%
Current assets
€138,873 ▲ 32.5%
Equity and liabilities €148,075
Equity
€121,952 ▲ 17.8%
Debt
€26,123 ▲ 119%
Debt's share of the balance-sheet total rises from 10.3% to 17.6%. Equity and debt are higher.
Key figures and ratios
ROE
39.7%▲
2024 · 2.3%
Debt ≤ 1 year
€26,123▲
2024 · €11,934
Income taxes
€10,910▲
2024 · €9,686
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-04-2022 | 30-04-2023 | 30-04-2024 | 30-04-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €3,195 | €1,950 | €8,224 | €1,557 |
| Depreciation and write-downs of the year | €15,802 | €16,177 | €16,485 | €3,028 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €24,000 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,465 | €16,671 | €15,692 | €15,802 | €16,177 | €16,485 | €3,028 | ▼ 81.6% |
| Other operating charges640/8 | - | - | - | €1,014 | €1,481 | €1,728 | €591 | ▼ 65.8% |
| Gross operating margin9900 | €6,243 | €7,165 | €52,961 | €56,102 | €57,852 | €30,939 | €63,472 | ▲ 105% |
| Operating profit (loss)9901 | -€1,653 | -€10,629 | €36,019 | €39,285 | €40,194 | €12,727 | €59,853 | ▲ 370% |
| Financial income75/76B | - | - | - | - | - | - | €44 | - |
| Recurring financial income75 | €76 | €1 | - | - | - | - | €44 | - |
| Financial charges65/66B | - | - | - | €506 | €1,078 | €624 | €559 | ▼ 10.4% |
| Recurring financial charges65 | €326 | €735 | €420 | €506 | €1,078 | €624 | €559 | ▼ 10.4% |
| Profit (loss) for the period before taxes9903 | -€1,903 | -€11,362 | €35,599 | €38,779 | €39,116 | €12,104 | €59,337 | ▲ 390% |
| Income taxes67/77 | - | €1,106 | €8,679 | €10,829 | €10,881 | €9,686 | €10,910 | ▲ 12.6% |
| Profit (loss) for the period9904 | -€1,903 | -€12,469 | €26,920 | €27,950 | €28,235 | €2,417 | €48,427 | ▲ 20× |
| Profit (loss) for the period to be appropriated9905 | -€1,903 | -€12,469 | €26,920 | €27,950 | €28,235 | €2,417 | €48,427 | ▲ 20× |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €118,725 | €80,060 | €118,715 | €517,002 | €138,500 | €115,458 | €148,075 | ▲ 28.2% |
| Fixed assets21/28 | €78,130 | €61,459 | €45,767 | €33,160 | €18,933 | €10,673 | €9,202 | ▼ 13.8% |
| Tangible fixed assets22/27 | €78,130 | €61,459 | €45,767 | €33,160 | €18,933 | €10,673 | €9,202 | ▼ 13.8% |
| Plant, machinery and equipment23 | - | - | - | - | €1,619 | €9,204 | €8,372 | ▼ 9.0% |
| Furniture and vehicles24 | - | - | - | €33,160 | €17,314 | €1,469 | €830 | ▼ 43.5% |
| Current assets29/58 | €40,595 | €18,601 | €72,948 | €483,842 | €119,567 | €104,786 | €138,873 | ▲ 32.5% |
| Amounts receivable within one year40/41 | €12,480 | €10,567 | €15,738 | €19,640 | €19,332 | €14,361 | €21,814 | ▲ 51.9% |
| Trade receivables40 | - | - | - | €19,224 | €19,224 | €8,974 | €15,224 | ▲ 69.6% |
| Other amounts receivable41 | - | - | - | €416 | €108 | €5,387 | €6,590 | ▲ 22.3% |
| Cash at bank and in hand54/58 | €28,115 | €8,034 | €57,210 | €464,202 | €100,234 | €90,424 | €117,059 | ▲ 29.5% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €118,725 | €80,060 | €118,715 | €517,002 | €138,500 | €115,458 | €148,075 | ▲ 28.2% |
| Equity10/15 | €30,471 | €18,002 | €44,922 | €72,872 | €101,107 | €103,525 | €121,952 | ▲ 17.8% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €13,774 | €13,774 | €26,322 | €54,272 | €82,507 | €84,925 | €103,352 | ▲ 21.7% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €52,412 | €82,507 | €84,925 | €103,352 | ▲ 21.7% |
| Profit (loss) carried forward14 | -€1,903 | -€14,372 | - | - | - | - | - | - |
| Amounts payable17/49 | €88,254 | €62,058 | €73,793 | €444,130 | €37,393 | €11,934 | €26,123 | ▲ 119% |
| Amounts payable after more than one year17 | €53,001 | €38,187 | €24,401 | €10,500 | - | - | - | - |
| Financial debts170/4 | - | - | - | €10,500 | - | - | - | - |
| Amounts payable within one year42/48 | €35,253 | €23,871 | €49,393 | €433,630 | €37,393 | €11,934 | €26,123 | ▲ 119% |
| Current portion of amounts payable after more than one year42 | - | - | - | €13,901 | €10,500 | - | - | - |
| Trade debts44 | €21,696 | €8,320 | €9,118 | €5,909 | €10,815 | €6,529 | €184 | ▼ 97.2% |
| Suppliers440/4 | - | - | - | €5,909 | €10,815 | €6,529 | €184 | ▼ 97.2% |
| Taxes, remuneration and social security45 | - | - | - | €12,620 | €12,577 | €2,848 | €7,692 | ▲ 170% |
| Taxes450/3 | - | - | - | €9,120 | €9,077 | €2,848 | €7,692 | ▲ 170% |
| Remuneration and social security454/9 | - | - | - | €3,500 | €3,500 | - | - | - |
| Other amounts payable47/48 | - | - | - | €401,200 | €3,501 | €2,556 | €18,247 | ▲ 614% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,903 | -€12,469 | €26,920 | €27,950 | €28,235 | €2,417 | €48,427 | ▲ 20× |
| + Depreciation and write-downs630 | €1,465 | €16,671 | €15,692 | €15,802 | €16,177 | €16,485 | €3,028 | ▼ 81.6% |
| Operating cash flow (approximation) | -€439 | €4,202 | €42,612 | €43,753 | €44,412 | €18,902 | €51,455 | ▲ 172% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€3,195 | -€1,950 | -€8,224 | -€1,557 | ▲ 81.1% |
| Change in cash | - | -€20,081 | €49,176 | €406,992 | -€363,967 | -€9,810 | €26,635 | - |
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 (9)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-04-2025 | micro format | 28-11-2025 | 2025-00574276 | |
| 30-04-2024 | micro format | 02-12-2024 | 2024-00609079 | |
| 30-04-2023 | micro format | 04-12-2023 | 2023-00522363 | |
| 30-04-2022 | micro format | 06-12-2022 | 2022-20533727 | |
| 30-04-2021 | micro format | 09-11-2021 | 2021-77000383 | |
| 30-04-2020 | micro format | 27-11-2020 | 2020-72700331 | |
| 30-04-2019 | micro format | 04-11-2019 | 2019-73000192 | |
| 30-04-2018 | micro format | 26-11-2018 | 2018-72800481 | |
| 30-04-2017 | micro format | 04-12-2017 | 2017-71000594 |