Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 01-07-2026 at the NBB all 3 filings
Equity
€15,600
2024 · -€7,817
Net result
€23,417▲ 209%
2024 · €7,566
Total assets
€186,599▼ 0.5%
2024 · €187,585
Solvency
8.4%▲ 12.5pp
2024 · -4.2%
Multi-year overview
2023 to 2025, 3 financial yearsOperating result
-€4,886
▲ 15.8%
2025
20232025
Net result
€23,417
▲ 209%
2025
middle half of the sector
20232025
Equity
€15,600
2025
lowest quarter of the sector
20232025
Total assets
€186,599
▼ 0.5%
2025
lowest quarter of the sector
20232025
Debt
€170,998
▼ 12.5%
2025
20232025
Working capital
-€85,223
▲ 10.5%
2025
middle half of the sector
20232025
Solvency
8.4%
▲ 12.5pp
2025
lowest quarter of the sector
20232025
Current ratio
0.07
=
2025
lowest quarter of the sector
20232025
Return on assets (ROA)
12.5%
▲ 8.5pp
2025
highest quarter of the sector
20232025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202320242025
Operating result-€11,415--€5,803▲ 49.2%-€4,886▲ 15.8%
Net result-€17,883below the sector's middle half-€7,566within the sector's middle half€23,417within the sector's middle half▲ 209%
Equity-€15,383below the sector's middle half--€7,817below the sector's middle half▲ 49.2%€15,600below the sector's middle half
Total assets€190,032below the sector's middle half-€187,585below the sector's middle half▼ 1.3%€186,599below the sector's middle half▼ 0.5%
Debt€205,415-€195,402▼ 4.9%€170,998▼ 12.5%
Working capital-€89,675within the sector's middle half--€95,202within the sector's middle half▼ 6.2%-€85,223within the sector's middle half▲ 10.5%
Solvency-8.1%below the sector's middle half--4.2%below the sector's middle half▲ 3.9pp8.4%below the sector's middle half▲ 12.5pp
Current ratio0.10below the sector's middle half-0.07below the sector's middle half▼ 0.030.07below the sector's middle half=
Return on assets (ROA)-9.4%below the sector's middle half-4.0%within the sector's middle half▲ 13.4pp12.5%above the sector's middle half▲ 8.5pp
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 a loss of €4,886, smaller than the loss of €5,803 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €186,599
Fixed assets
€180,000 =
Current assets
€6,599 ▼ 13.0%
Equity and liabilities €186,599
Equity
€15,600
Debt
€170,998
Debt's share of the balance-sheet total is 91.6%.
Key figures and ratios
ROE
150.1%
Debt ≤ 1 year
€91,822▼
2024 · €102,787
Debt > 1 year
€79,177▼
2024 · €92,615
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Financial fixed assets | €180,000 | - | - |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Other operating charges640/8 | €88 | - | €49 | - |
| Non-recurring operating charges66A | - | €1,905 | - | - |
| Gross operating margin9900 | -€11,326 | -€3,898 | -€4,838 | ▼ 24.1% |
| Operating profit (loss)9901 | -€11,415 | -€5,803 | -€4,886 | ▲ 15.8% |
| Financial income75/76B | - | €19,000 | €32,000 | ▲ 68.4% |
| Recurring financial income75 | - | €19,000 | €32,000 | ▲ 68.4% |
| Financial charges65/66B | €6,468 | €5,631 | €3,697 | ▼ 34.4% |
| Recurring financial charges65 | €6,468 | €5,631 | €3,697 | ▼ 34.4% |
| Profit (loss) for the period before taxes9903 | -€17,883 | €7,566 | €23,417 | ▲ 209% |
| Profit (loss) for the period9904 | -€17,883 | €7,566 | €23,417 | ▲ 209% |
| Profit (loss) for the period to be appropriated9905 | -€17,883 | €7,566 | €23,417 | ▲ 209% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €190,032 | €187,585 | €186,599 | ▼ 0.5% |
| Fixed assets21/28 | €180,000 | €180,000 | €180,000 | = |
| Financial fixed assets28 | €180,000 | €180,000 | €180,000 | = |
| Current assets29/58 | €10,032 | €7,585 | €6,599 | ▼ 13.0% |
| Amounts receivable within one year40/41 | €769 | - | - | - |
| Other amounts receivable41 | €769 | - | - | - |
| Cash at bank and in hand54/58 | €858 | €114 | €61 | ▼ 46.7% |
| Deferred charges and accrued income490/1 | €8,405 | €7,471 | €6,538 | ▼ 12.5% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €190,032 | €187,585 | €186,599 | ▼ 0.5% |
| Equity10/15 | -€15,383 | -€7,817 | €15,600 | - |
| Contributions10/11 | €2,500 | €2,500 | €2,500 | = |
| Profit (loss) carried forward14 | -€17,883 | -€10,317 | €13,100 | - |
| Amounts payable17/49 | €205,415 | €195,402 | €170,998 | ▼ 12.5% |
| Amounts payable after more than one year17 | €105,708 | €92,615 | €79,177 | ▼ 14.5% |
| Financial debts170/4 | €105,708 | €92,615 | €79,177 | ▼ 14.5% |
| Amounts payable within one year42/48 | €99,707 | €102,787 | €91,822 | ▼ 10.7% |
| Current portion of amounts payable after more than one year42 | €11,177 | €13,093 | €13,438 | ▲ 2.6% |
| Trade debts44 | €38,778 | €21,429 | €4,112 | ▼ 80.8% |
| Suppliers440/4 | €38,778 | €21,429 | €4,112 | ▼ 80.8% |
| Other amounts payable47/48 | €49,752 | €68,265 | €74,272 | ▲ 8.8% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€17,883 | €7,566 | €23,417 | ▲ 209% |
| Operating cash flow (approximation) | -€17,883 | €7,566 | €23,417 | ▲ 209% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - |
| Change in cash | - | -€745 | -€53 | ▲ 92.9% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.