Financials · financial year 2025, micro format
2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00488130.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 5 filings
Equity
€557,672▲ 24.9%
2024 · €446,641
Net result
€111,031▼ 3.8%
2024 · €115,388
Total assets
€605,923▲ 24.2%
2024 · €487,745
Solvency
92.0%▲ 0.5pp
2024 · 91.6%
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€165,805
▲ 2.9%
2025
20212025
Net result
€111,031
▼ 3.8%
2025
highest quarter of the sector
20212025
Equity
€557,672
▲ 24.9%
2025
highest quarter of the sector
20212025
Total assets
€605,923
▲ 24.2%
2025
middle half of the sector
20212025
Debt
€48,250
▲ 17.4%
2025
20212025
Working capital
€551,063
▲ 24.2%
2025
highest quarter of the sector
20212025
Solvency
92.0%
▲ 0.5pp
2025
highest quarter of the sector
20212025
Current ratio
12.42
▲ 0.62
2025
highest quarter of the sector
20212025
Return on assets (ROA)
18.3%
▼ 5.3pp
2025
middle half of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result€155,354-€170,926▲ 10.0%€149,600▼ 12.5%€161,121▲ 7.7%€165,805▲ 2.9%
Net result€108,782above the sector's middle half-€111,603above the sector's middle half▲ 2.6%€107,868above the sector's middle half▼ 3.3%€115,388above the sector's middle half▲ 7.0%€111,031above the sector's middle half▼ 3.8%
Equity€111,782within the sector's middle half-€223,385within the sector's middle half▲ 99.8%€331,253within the sector's middle half▲ 48.3%€446,641above the sector's middle half▲ 34.8%€557,672above the sector's middle half▲ 24.9%
Total assets€128,188below the sector's middle half-€271,703within the sector's middle half▲ 112%€372,906within the sector's middle half▲ 37.2%€487,745within the sector's middle half▲ 30.8%€605,923within the sector's middle half▲ 24.2%
Debt€16,406-€48,318▲ 195%€41,653▼ 13.8%€41,103▼ 1.3%€48,250▲ 17.4%
Working capital€110,889within the sector's middle half-€222,932above the sector's middle half▲ 101%€327,524above the sector's middle half▲ 46.9%€443,784above the sector's middle half▲ 35.5%€551,063above the sector's middle half▲ 24.2%
Solvency87.2%above the sector's middle half-82.2%above the sector's middle half▼ 5.0pp88.8%above the sector's middle half▲ 6.6pp91.6%above the sector's middle half▲ 2.7pp92.0%above the sector's middle half▲ 0.5pp
Current ratio7.76above the sector's middle half-5.61above the sector's middle half▼ 2.158.86above the sector's middle half▲ 3.2511.80above the sector's middle half▲ 2.9312.42above the sector's middle half▲ 0.62
Return on assets (ROA)84.9%above the sector's middle half-41.1%above the sector's middle half▼ 43.8pp28.9%above the sector's middle half▼ 12.1pp23.7%within the sector's middle half▼ 5.3pp18.3%within the sector's middle half▼ 5.3pp
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 3% higher than in 2024. It is the second rise in a row, after the fall in 2023.
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 €605,923
Fixed assets
€6,609 ▲ 131%
Current assets
€599,313 ▲ 23.6%
Equity and liabilities €605,923
Equity
€557,672 ▲ 24.9%
Debt
€48,250 ▲ 17.4%
Debt's share of the balance-sheet total falls from 8.4% to 8.0%. Equity and debt are higher.
Key figures and ratios
ROE
19.9%▼
2024 · 25.8%
Debt ≤ 1 year
€48,250▲
2024 · €41,103
Income taxes
€57,572▲
2024 · €51,632
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,321 | - | €4,299 | - | €5,247 |
| Depreciation and write-downs of the year | €428 | €440 | €1,022 | €872 | €1,495 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €428 | €440 | €1,022 | €872 | €1,495 | ▲ 71.5% |
| Other operating charges640/8 | €575 | €619 | €709 | €528 | €989 | ▲ 87.3% |
| Gross operating margin9900 | €156,357 | €171,985 | €151,331 | €162,521 | €168,289 | ▲ 3.5% |
| Operating profit (loss)9901 | €155,354 | €170,926 | €149,600 | €161,121 | €165,805 | ▲ 2.9% |
| Financial income75/76B | - | - | - | €6,363 | €7,591 | ▲ 19.3% |
| Recurring financial income75 | - | - | - | €6,363 | €7,591 | ▲ 19.3% |
| Financial charges65/66B | €32 | €4,198 | €206 | €464 | €4,792 | ▲ 934% |
| Recurring financial charges65 | €32 | €4,198 | €206 | €464 | €4,792 | ▲ 934% |
| Profit (loss) for the period before taxes9903 | €155,322 | €166,728 | €149,394 | €167,020 | €168,603 | ▲ 0.9% |
| Income taxes67/77 | €46,540 | €55,125 | €41,526 | €51,632 | €57,572 | ▲ 11.5% |
| Profit (loss) for the period9904 | €108,782 | €111,603 | €107,868 | €115,388 | €111,031 | ▼ 3.8% |
| Profit (loss) for the period to be appropriated9905 | €108,782 | €111,603 | €107,868 | €115,388 | €111,031 | ▼ 3.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €128,188 | €271,703 | €372,906 | €487,745 | €605,923 | ▲ 24.2% |
| Fixed assets21/28 | €893 | €453 | €3,729 | €2,857 | €6,609 | ▲ 131% |
| Tangible fixed assets22/27 | €893 | €453 | €3,729 | €2,857 | €6,609 | ▲ 131% |
| Plant, machinery and equipment23 | - | - | €3,717 | €2,857 | €6,609 | ▲ 131% |
| Furniture and vehicles24 | €893 | €453 | €12 | - | - | - |
| Current assets29/58 | €127,295 | €271,250 | €369,177 | €484,887 | €599,313 | ▲ 23.6% |
| Amounts receivable within one year40/41 | €15 | €20,323 | €46,273 | €37,117 | €119,251 | ▲ 221% |
| Trade receivables40 | - | €20,323 | €42,012 | €21,048 | €107,443 | ▲ 410% |
| Other amounts receivable41 | €15 | - | €4,261 | €16,068 | €11,807 | ▼ 26.5% |
| Current investments50/53 | €75,603 | - | €200,000 | €324,434 | €325,007 | ▲ 0.2% |
| Cash at bank and in hand54/58 | €51,677 | €250,517 | €122,854 | €123,210 | €154,930 | ▲ 25.7% |
| Deferred charges and accrued income490/1 | - | €410 | €50 | €126 | €126 | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €128,188 | €271,703 | €372,906 | €487,745 | €605,923 | ▲ 24.2% |
| Equity10/15 | €111,782 | €223,385 | €331,253 | €446,641 | €557,672 | ▲ 24.9% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Reserves13 | €108,782 | €220,385 | €328,253 | €443,641 | €554,672 | ▲ 25.0% |
| Distributable reserves133 | €108,782 | €220,385 | €328,253 | €443,641 | €554,672 | ▲ 25.0% |
| Amounts payable17/49 | €16,406 | €48,318 | €41,653 | €41,103 | €48,250 | ▲ 17.4% |
| Amounts payable within one year42/48 | €16,406 | €48,318 | €41,653 | €41,103 | €48,250 | ▲ 17.4% |
| Trade debts44 | €66 | €2,052 | €1,732 | €6,874 | €7,264 | ▲ 5.7% |
| Suppliers440/4 | €66 | €2,052 | €1,732 | €6,874 | €7,264 | ▲ 5.7% |
| Taxes, remuneration and social security45 | €14,540 | €44,466 | €35,463 | €32,430 | €37,423 | ▲ 15.4% |
| Taxes450/3 | €14,540 | €44,466 | €35,463 | €32,430 | €37,423 | ▲ 15.4% |
| Other amounts payable47/48 | €1,800 | €1,800 | €4,458 | €1,800 | €3,564 | ▲ 98.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €108,782 | €111,603 | €107,868 | €115,388 | €111,031 | ▼ 3.8% |
| + Depreciation and write-downs630 | €428 | €440 | €1,022 | €872 | €1,495 | ▲ 71.5% |
| Operating cash flow (approximation) | €109,210 | €112,044 | €108,890 | €116,260 | €112,526 | ▼ 3.2% |
| Investment in fixed assets (approximation) | - | -€0 | -€4,299 | €0 | -€5,247 | - |
| Change in cash | - | €198,840 | -€127,663 | €356 | €31,720 | ▲ 89× |
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 |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00488130 | |
| 31-12-2024 | micro format | 28-08-2025 | 2025-00446200 | |
| 31-12-2023 | micro format | 21-06-2024 | 2024-00156824 | |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00417531 | |
| 31-12-2021 | micro format | 22-06-2022 | 2022-20087669 |