Financials · financial year 2025, micro format
Annual accounts 2025 filed on 14-07-2026 at the NBB all 3 filings
Equity
€71,810▲ 82.0%
2024 · €39,446
Net result
€33,197▲ 85.1%
2024 · €17,935
Total assets
€559,466▼ 1.2%
2024 · €565,978
Solvency
12.8%▲ 5.9pp
2024 · 7.0%
Multi-year overview
2023 to 2025, 3 financial yearsOperating result
€69,899
▲ 36.7%
2025
20232025
Net result
€33,197
▲ 85.1%
2025
middle half of the sector
20232025
Equity
€71,810
▲ 82.0%
2025
middle half of the sector
20232025
Total assets
€559,466
▼ 1.2%
2025
middle half of the sector
20232025
Debt
€487,656
▼ 7.4%
2025
20232025
Working capital
-€72,469
▼ 27.0%
2025
lowest quarter of the sector
20232025
Solvency
12.8%
▲ 5.9pp
2025
lowest quarter of the sector
20232025
Current ratio
0.20
▼ 0.09
2025
lowest quarter of the sector
20232025
Return on assets (ROA)
5.9%
▲ 2.8pp
2025
middle half of the sector
20232025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202320242025
Operating result€24,997-€51,137▲ 105%€69,899▲ 36.7%
Net result€8,144within the sector's middle half-€17,935within the sector's middle half▲ 120%€33,197within the sector's middle half▲ 85.1%
Equity€22,344below the sector's middle half-€39,446below the sector's middle half▲ 76.5%€71,810within the sector's middle half▲ 82.0%
Total assets€570,666within the sector's middle half-€565,978within the sector's middle half▼ 0.8%€559,466within the sector's middle half▼ 1.2%
Debt€548,321-€526,532▼ 4.0%€487,656▼ 7.4%
Working capital-€27,967below the sector's middle half--€57,049below the sector's middle half▼ 104%-€72,469below the sector's middle half▼ 27.0%
Solvency3.9%below the sector's middle half-7.0%below the sector's middle half▲ 3.1pp12.8%below the sector's middle half▲ 5.9pp
Current ratio0.51below the sector's middle half-0.29below the sector's middle half▼ 0.210.20below the sector's middle half▼ 0.09
Return on assets (ROA)1.4%within the sector's middle half-3.2%within the sector's middle half▲ 1.7pp5.9%within the sector's middle half▲ 2.8pp
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 37% higher than in 2024 and the highest since 2023. It is the second rise in a row.
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 €559,466
Fixed assets
€541,580 ▼ 0.2%
Current assets
€17,886 ▼ 23.7%
Equity and liabilities €559,466
Equity
€71,810 ▲ 82.0%
Debt
€487,656 ▼ 7.4%
Debt's share of the balance-sheet total falls from 93.0% to 87.2%. Equity is higher and debt is lower.
Key figures and ratios
ROE
46.2%▲
2024 · 45.5%
Debt ≤ 1 year
€90,355▲
2024 · €80,477
Debt > 1 year
€392,301▼
2024 · €441,054
Income taxes
€11,691▲
2024 · €8,218
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | €1,659 | €1,248 | - |
| Financial fixed assets | €540,638 | - | - |
| Depreciation and write-downs of the year | €2,229 | €812 | €969 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,229 | €812 | €969 | ▲ 19.3% |
| Other operating charges640/8 | - | €126 | €63 | ▼ 49.7% |
| Gross operating margin9900 | €27,226 | €52,076 | €70,931 | ▲ 36.2% |
| Operating profit (loss)9901 | €24,997 | €51,137 | €69,899 | ▲ 36.7% |
| Financial income75/76B | - | €0 | €0 | = |
| Recurring financial income75 | - | €0 | €0 | = |
| Financial charges65/66B | €12,525 | €24,984 | €25,011 | ▲ 0.1% |
| Recurring financial charges65 | €12,525 | €24,984 | €25,011 | ▲ 0.1% |
| Profit (loss) for the period before taxes9903 | €12,472 | €26,153 | €44,888 | ▲ 71.6% |
| Income taxes67/77 | €4,327 | €8,218 | €11,691 | ▲ 42.3% |
| Profit (loss) for the period9904 | €8,144 | €17,935 | €33,197 | ▲ 85.1% |
| Profit (loss) for the period to be appropriated9905 | €8,144 | €17,935 | €33,197 | ▲ 85.1% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €570,666 | €565,978 | €559,466 | ▼ 1.2% |
| Fixed assets21/28 | €542,113 | €542,549 | €541,580 | ▼ 0.2% |
| Tangible fixed assets22/27 | €1,475 | €1,911 | €942 | ▼ 50.7% |
| Furniture and vehicles24 | €1,475 | €1,911 | €942 | ▼ 50.7% |
| Financial fixed assets28 | €540,638 | €540,638 | €540,638 | = |
| Current assets29/58 | €28,552 | €23,429 | €17,886 | ▼ 23.7% |
| Amounts receivable within one year40/41 | €6,000 | €6,000 | €12,000 | ▲ 100% |
| Trade receivables40 | €6,000 | €6,000 | €12,000 | ▲ 100% |
| Cash at bank and in hand54/58 | €6,819 | €2,429 | €5,227 | ▲ 115% |
| Deferred charges and accrued income490/1 | €15,734 | €15,000 | €659 | ▼ 95.6% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €570,666 | €565,978 | €559,466 | ▼ 1.2% |
| Equity10/15 | €22,344 | €39,446 | €71,810 | ▲ 82.0% |
| Contributions10/11 | €15,000 | €15,000 | €15,000 | = |
| Profit (loss) carried forward14 | €7,344 | €24,446 | €56,810 | ▲ 132% |
| Amounts payable17/49 | €548,321 | €526,532 | €487,656 | ▼ 7.4% |
| Amounts payable after more than one year17 | €486,802 | €441,054 | €392,301 | ▼ 11.1% |
| Financial debts170/4 | €310,029 | €280,131 | €248,763 | ▼ 11.2% |
| Other amounts payable178/9 | €176,773 | €160,923 | €143,538 | ▼ 10.8% |
| Amounts payable within one year42/48 | €56,519 | €80,477 | €90,355 | ▲ 12.3% |
| Current portion of amounts payable after more than one year42 | €42,361 | €45,748 | €49,742 | ▲ 8.7% |
| Trade debts44 | €820 | €2,976 | €718 | ▼ 75.9% |
| Suppliers440/4 | €820 | €2,976 | €718 | ▼ 75.9% |
| Taxes, remuneration and social security45 | €4,518 | €11,352 | €19,465 | ▲ 71.5% |
| Taxes450/3 | €4,518 | €11,352 | €19,465 | ▲ 71.5% |
| Other amounts payable47/48 | €8,820 | €20,402 | €20,430 | ▲ 0.1% |
| Accrued charges and deferred income492/3 | €5,000 | €5,000 | €5,000 | = |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,144 | €17,935 | €33,197 | ▲ 85.1% |
| + Depreciation and write-downs630 | €2,229 | €812 | €969 | ▲ 19.3% |
| Operating cash flow (approximation) | €10,373 | €18,747 | €34,166 | ▲ 82.2% |
| Investment in fixed assets (approximation) | - | -€1,248 | €0 | - |
| Change in cash | - | -€4,390 | €2,798 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.