Financials · financial year 2025, micro format
Annual accounts 2025 filed on 04-06-2026 PDF all 28 filings
Equity
€349,320▲ 32.8%
2024 · €263,000
Net result
€95,820▲ 44.1%
2024 · €66,511
Total assets
€720,845▲ 160%
2024 · €276,842
Solvency
48.5%▼ 46.5pp
2024 · 95.0%
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€153,778
▲ 68.2%
2025
20182025
Net result
€95,820
▲ 44.1%
2025
highest quarter of the sector
20182025
Equity
€349,320
▲ 32.8%
2025
highest quarter of the sector
20182025
Total assets
€720,845
▲ 160%
2025
middle half of the sector
20182025
Debt
€371,525
▲ 27×
2025
20182025
Working capital
-€47,488
2025
lowest quarter of the sector
20182025
Solvency
48.5%
▼ 46.5pp
2025
middle half of the sector
20182025
Current ratio
0.87
▼ 13.60
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
13.3%
▼ 10.7pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€41,124-€17,080▼ 58.5%€72,379▲ 324%€48,442▼ 33.1%€147,598▲ 205%€25,435▼ 82.8%€91,428▲ 259%€153,778▲ 68.2%
Net result€33,188-€10,931▼ 67.1%€45,821within the sector's middle half▲ 319%€38,722within the sector's middle half▼ 15.5%€103,695above the sector's middle half▲ 168%€29,092within the sector's middle half▼ 71.9%€66,511within the sector's middle half▲ 129%€95,820above the sector's middle half▲ 44.1%
Equity€89,747-€99,318▲ 10.7%€145,139within the sector's middle half▲ 46.1%€183,861within the sector's middle half▲ 26.7%€219,397within the sector's middle half▲ 19.3%€229,489within the sector's middle half▲ 4.6%€263,000within the sector's middle half▲ 14.6%€349,320above the sector's middle half▲ 32.8%
Total assets€154,512-€113,192▼ 26.7%€157,012within the sector's middle half▲ 38.7%€194,398within the sector's middle half▲ 23.8%€278,209within the sector's middle half▲ 43.1%€253,291within the sector's middle half▼ 9.0%€276,842within the sector's middle half▲ 9.3%€720,845within the sector's middle half▲ 160%
Debt€64,765-€13,874▼ 78.6%€11,873▼ 14.4%€10,537▼ 11.2%€58,812▲ 458%€23,802▼ 59.5%€13,842▼ 41.8%€371,525▲ 27×
Working capital-€7,922-€16,436€69,611within the sector's middle half▲ 324%€109,468within the sector's middle half▲ 57.3%€152,896within the sector's middle half▲ 39.7%€140,721within the sector's middle half▼ 8.0%€186,502above the sector's middle half▲ 32.5%-€47,488below the sector's middle half
Solvency58.1%-87.7%▲ 29.7pp92.4%above the sector's middle half▲ 4.7pp94.6%above the sector's middle half▲ 2.1pp78.9%above the sector's middle half▼ 15.7pp90.6%above the sector's middle half▲ 11.7pp95.0%above the sector's middle half▲ 4.4pp48.5%within the sector's middle half▼ 46.5pp
Current ratio0.87-2.27▲ 1.407.38above the sector's middle half▲ 5.1111.39above the sector's middle half▲ 4.013.60within the sector's middle half▼ 7.796.91above the sector's middle half▲ 3.3114.47above the sector's middle half▲ 7.560.87below the sector's middle half▼ 13.60
Return on assets (ROA)21.5%-9.7%▼ 11.8pp29.2%above the sector's middle half▲ 19.5pp19.9%above the sector's middle half▼ 9.3pp37.3%above the sector's middle half▲ 17.4pp11.5%within the sector's middle half▼ 25.8pp24.0%above the sector's middle half▲ 12.5pp13.3%within the sector's middle half▼ 10.7pp
above
within
below
The sector band is the middle half of the companies in Activities auxiliary to financial services and insurance activities (NACE 66). 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 68% higher than in 2024 and the highest since 2018. 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 €720,845
Fixed assets
€396,808 ▲ 419%
Current assets
€324,037 ▲ 61.7%
Equity and liabilities €720,845
Equity
€349,320 ▲ 32.8%
Debt
€371,525 ▲ 27×
Debt's share of the balance-sheet total rises from 5.0% to 51.5%. Equity and debt are higher.
Key figures and ratios
ROE
27.4%▲
2024 · 25.3%
Debt ≤ 1 year
€371,525▲
2024 · €13,842
Income taxes
€44,451▲
2024 · €24,707
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 | €5,373 | - | €33,591 | - | - |
| Financial fixed assets | - | - | - | - | €332,580 |
| Depreciation and write-downs of the year | €7,477 | €7,892 | €11,324 | €12,270 | €12,270 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,284 | €7,354 | €7,354 | €7,477 | €7,892 | €11,324 | €12,270 | €12,270 | = |
| Other operating charges640/8 | - | - | - | €3,288 | €3,200 | €3,148 | €3,003 | €3,149 | ▲ 4.9% |
| Gross operating margin9900 | €58,706 | €27,959 | €83,487 | €59,207 | €158,689 | €39,908 | €106,701 | €169,197 | ▲ 58.6% |
| Operating profit (loss)9901 | €41,124 | €17,080 | €72,379 | €48,442 | €147,598 | €25,435 | €91,428 | €153,778 | ▲ 68.2% |
| Financial income75/76B | - | - | - | - | €1 | €14,398 | - | €0 | - |
| Recurring financial income75 | €1 | €1 | €1 | - | €1 | €1 | - | €0 | - |
| Non-recurring financial income76B | - | - | - | - | - | €14,398 | - | - | - |
| Financial charges65/66B | - | - | - | €222 | €261 | €774 | €210 | €13,508 | ▲ 64× |
| Recurring financial charges65 | €254 | €332 | €217 | €222 | €261 | €774 | €210 | €13,508 | ▲ 64× |
| Profit (loss) for the period before taxes9903 | €40,871 | €16,748 | €72,164 | €48,220 | €147,338 | €39,060 | €91,218 | €140,271 | ▲ 53.8% |
| Income taxes67/77 | €7,683 | €5,818 | €26,343 | €9,498 | €43,643 | €9,968 | €24,707 | €44,451 | ▲ 79.9% |
| Profit (loss) for the period9904 | €33,188 | €10,931 | €45,821 | €38,722 | €103,695 | €29,092 | €66,511 | €95,820 | ▲ 44.1% |
| Profit (loss) for the period to be appropriated9905 | €33,188 | €10,931 | €45,821 | €38,722 | €103,695 | €29,092 | €66,511 | €95,820 | ▲ 44.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €154,512 | €113,192 | €157,012 | €194,398 | €278,209 | €253,291 | €276,842 | €720,845 | ▲ 160% |
| Fixed assets21/28 | €101,142 | €83,850 | €76,496 | €74,393 | €66,501 | €88,768 | €76,498 | €396,808 | ▲ 419% |
| Tangible fixed assets22/27 | €101,142 | €83,850 | €76,496 | €74,393 | €66,501 | €88,768 | €76,498 | €64,228 | ▼ 16.0% |
| Land and buildings22 | - | - | - | €69,078 | €61,724 | €63,272 | €54,961 | €46,651 | ▼ 15.1% |
| Plant, machinery and equipment23 | - | - | - | €5,314 | €4,777 | €25,496 | €21,537 | €17,577 | ▼ 18.4% |
| Financial fixed assets28 | - | - | - | - | - | - | - | €332,580 | - |
| Current assets29/58 | €53,370 | €29,342 | €80,516 | €120,005 | €211,708 | €164,523 | €200,344 | €324,037 | ▲ 61.7% |
| Amounts receivable within one year40/41 | €53 | €1,889 | €150 | €7,573 | €5,249 | €35,097 | €11,666 | €11,456 | ▼ 1.8% |
| Trade receivables40 | - | - | - | €168 | - | €779 | €666 | €324 | ▼ 51.3% |
| Other amounts receivable41 | - | - | - | €7,405 | €5,249 | €34,318 | €11,000 | €11,131 | ▲ 1.2% |
| Cash at bank and in hand54/58 | €52,917 | €26,193 | €80,366 | €112,432 | €206,459 | €114,427 | €188,679 | €312,581 | ▲ 65.7% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €15,000 | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €154,512 | €113,192 | €157,012 | €194,398 | €278,209 | €253,291 | €276,842 | €720,845 | ▲ 160% |
| Equity10/15 | €89,747 | €99,318 | €145,139 | €183,861 | €219,397 | €229,489 | €263,000 | €349,320 | ▲ 32.8% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €9,718 | ▲ 56.7% |
| Contributions outside capital11 | - | - | - | €6,200 | €6,200 | - | - | - | - |
| Share premium1100/10 | - | - | - | €6,200 | €6,200 | - | - | - | - |
| Reserves13 | €83,547 | €93,118 | €138,939 | €177,661 | €213,197 | €223,289 | €256,800 | €339,602 | ▲ 32.2% |
| Distributable reserves133 | - | - | - | €177,661 | €213,197 | €223,289 | €256,800 | €339,602 | ▲ 32.2% |
| Amounts payable17/49 | €64,765 | €13,874 | €11,873 | €10,537 | €58,812 | €23,802 | €13,842 | €371,525 | ▲ 27× |
| Amounts payable after more than one year17 | €2,565 | - | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €61,293 | €12,906 | €10,905 | €10,537 | €58,812 | €23,802 | €13,842 | €371,525 | ▲ 27× |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €5,024 | €10,198 | - | €6,453 | - |
| Trade debts44 | €2,755 | €543 | €1,505 | €1,999 | €2,023 | €3,079 | €3,261 | €2,714 | ▼ 16.8% |
| Suppliers440/4 | - | - | - | €1,999 | €2,023 | €3,079 | €3,261 | €2,714 | ▼ 16.8% |
| Taxes, remuneration and social security45 | - | - | - | €8,538 | €22,675 | €10,039 | €10,283 | €20,353 | ▲ 97.9% |
| Taxes450/3 | - | - | - | €8,538 | €22,675 | €10,039 | €6,774 | €20,353 | ▲ 200% |
| Remuneration and social security454/9 | - | - | - | - | - | - | €3,509 | - | - |
| Other amounts payable47/48 | - | - | - | - | €29,091 | €487 | €298 | €342,004 | ▲ 1,149× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €33,188 | €10,931 | €45,821 | €38,722 | €103,695 | €29,092 | €66,511 | €95,820 | ▲ 44.1% |
| + Depreciation and write-downs630 | €15,284 | €7,354 | €7,354 | €7,477 | €7,892 | €11,324 | €12,270 | €12,270 | = |
| Operating cash flow (approximation) | €48,472 | €18,285 | €53,175 | €46,198 | €111,586 | €40,416 | €78,781 | €108,090 | ▲ 37.2% |
| Investment in fixed assets (approximation) | - | €9,938 | €0 | -€5,373 | €0 | -€33,591 | €0 | -€332,580 | - |
| Change in cash | - | -€26,723 | €54,172 | €32,067 | €94,027 | -€92,033 | €74,252 | €123,902 | ▲ 66.9% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 28 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 04-06-2026 | 2026-00153814 | |
| 31-12-2024 | micro format | 03-06-2025 | 2025-00129199 | |
| 31-12-2023 | micro format | 05-06-2024 | 2024-00122547 | |
| 31-12-2022 | micro format | 21-06-2023 | 2023-00152602 | |
| 31-12-2021 | micro format | 28-06-2022 | 2022-20108273 | |
| 31-12-2020 | micro format | 04-06-2021 | 2021-17600064 | |
| 31-12-2019 | micro format | 19-06-2020 | 2020-18700353 | |
| 31-12-2018 | micro format | 12-06-2019 | 2019-18200462 | |
| 31-12-2017 | micro format | 12-06-2018 | 2018-17800287 | |
| 31-12-2016 | micro format | 20-06-2017 | 2017-19600042 |