FreBaT
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 01-07-2026 at the NBB all 3 filings
Equity
€3,375▼ 82.8%
2024 · €19,626
Net result
€33,749▼ 17.1%
2024 · €40,722
Total assets
€73,974▲ 24.8%
2024 · €59,289
Solvency
4.6%▼ 28.5pp
2024 · 33.1%
Multi-year overview
2023 to 2025, 3 financial yearsOperating result
€46,121
▼ 1.1%
2025
20232025
Net result
€33,749
▼ 17.1%
2025
middle half of the sector
20232025
Equity
€3,375
▼ 82.8%
2025
lowest quarter of the sector
20232025
Total assets
€73,974
▲ 24.8%
2025
lowest quarter of the sector
20232025
Debt
€70,599
▲ 78.0%
2025
20232025
Working capital
-€1,759
2025
middle half of the sector
20232025
Solvency
4.6%
▼ 28.5pp
2025
lowest quarter of the sector
20232025
Current ratio
0.98
▼ 0.37
2025
middle half of the sector
20232025
Return on assets (ROA)
45.6%
▼ 23.1pp
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€41,992-€46,650▲ 11.1%€46,121▼ 1.1%
Net result€32,503within the sector's middle half-€40,722within the sector's middle half▲ 25.3%€33,749within the sector's middle half▼ 17.1%
Equity€84,904within the sector's middle half-€19,626below the sector's middle half▼ 76.9%€3,375below the sector's middle half▼ 82.8%
Total assets€110,354below the sector's middle half-€59,289below the sector's middle half▼ 46.3%€73,974below the sector's middle half▲ 24.8%
Debt€25,450-€39,663▲ 55.8%€70,599▲ 78.0%
Working capital€84,904within the sector's middle half-€13,761within the sector's middle half▼ 83.8%-€1,759within the sector's middle half
Solvency76.9%within the sector's middle half-33.1%within the sector's middle half▼ 43.8pp4.6%below the sector's middle half▼ 28.5pp
Current ratio4.34above the sector's middle half-1.35within the sector's middle half▼ 2.990.98within the sector's middle half▼ 0.37
Return on assets (ROA)29.5%above the sector's middle half-68.7%above the sector's middle half▲ 39.2pp45.6%above the sector's middle half▼ 23.1pp
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 1% lower than 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 €73,974
Fixed assets
€5,134 ▼ 12.5%
Current assets
€68,840 ▲ 28.9%
Equity and liabilities €73,974
Equity
€3,375 ▼ 82.8%
Debt
€70,599 ▲ 78.0%
Debt's share of the balance-sheet total rises from 66.9% to 95.4%. Equity is lower and debt is higher.
Key figures and ratios
ROE
999.9%▲
2024 · 207.5%
Debt ≤ 1 year
€70,599▲
2024 · €39,663
Income taxes
€12,446▼
2024 · €13,950
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 | €1,305 | €6,160 | - |
| Depreciation and write-downs of the year | - | €295 | €731 |
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 | - | €295 | €731 | ▲ 148% |
| Other operating charges640/8 | €1,968 | €2,917 | €2,178 | ▼ 25.3% |
| Non-recurring operating charges66A | €1,305 | - | - | - |
| Gross operating margin9900 | €45,265 | €49,861 | €49,031 | ▼ 1.7% |
| Operating profit (loss)9901 | €41,992 | €46,650 | €46,121 | ▼ 1.1% |
| Financial income75/76B | €151 | €7,258 | €235 | ▼ 96.8% |
| Recurring financial income75 | €151 | €7,258 | €235 | ▼ 96.8% |
| Financial charges65/66B | -€2,854 | -€764 | €161 | - |
| Recurring financial charges65 | -€2,854 | -€764 | €161 | - |
| Profit (loss) for the period before taxes9903 | €44,996 | €54,672 | €46,196 | ▼ 15.5% |
| Income taxes67/77 | €12,493 | €13,950 | €12,446 | ▼ 10.8% |
| Profit (loss) for the period9904 | €32,503 | €40,722 | €33,749 | ▼ 17.1% |
| Profit (loss) for the period to be appropriated9905 | €32,503 | €40,722 | €33,749 | ▼ 17.1% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €110,354 | €59,289 | €73,974 | ▲ 24.8% |
| Fixed assets21/28 | - | €5,865 | €5,134 | ▼ 12.5% |
| Tangible fixed assets22/27 | - | €5,865 | €5,134 | ▼ 12.5% |
| Plant, machinery and equipment23 | - | €1,013 | €783 | ▼ 22.7% |
| Furniture and vehicles24 | - | €4,852 | €4,351 | ▼ 10.3% |
| Current assets29/58 | €110,354 | €53,424 | €68,840 | ▲ 28.9% |
| Amounts receivable within one year40/41 | €197 | €723 | €723 | = |
| Trade receivables40 | €197 | - | - | - |
| Other amounts receivable41 | - | €723 | €723 | = |
| Current investments50/53 | €62,237 | €23,431 | €29,369 | ▲ 25.3% |
| Cash at bank and in hand54/58 | €45,878 | €27,097 | €36,079 | ▲ 33.1% |
| Deferred charges and accrued income490/1 | €2,043 | €2,173 | €2,668 | ▲ 22.8% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €110,354 | €59,289 | €73,974 | ▲ 24.8% |
| Equity10/15 | €84,904 | €19,626 | €3,375 | ▼ 82.8% |
| Contributions10/11 | €2,500 | €2,500 | €2,500 | = |
| Reserves13 | €82,404 | €17,126 | €875 | ▼ 94.9% |
| Distributable reserves133 | €82,404 | €17,126 | €875 | ▼ 94.9% |
| Amounts payable17/49 | €25,450 | €39,663 | €70,599 | ▲ 78.0% |
| Amounts payable within one year42/48 | €25,450 | €39,663 | €70,599 | ▲ 78.0% |
| Trade debts44 | €1,780 | €2,428 | €4,157 | ▲ 71.2% |
| Suppliers440/4 | €1,780 | €2,428 | €4,157 | ▲ 71.2% |
| Taxes, remuneration and social security45 | €14,998 | €2,344 | €1,580 | ▼ 32.6% |
| Taxes450/3 | €14,998 | €2,344 | €1,580 | ▼ 32.6% |
| Other amounts payable47/48 | €8,672 | €34,891 | €64,862 | ▲ 85.9% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €32,503 | €40,722 | €33,749 | ▼ 17.1% |
| + Depreciation and write-downs630 | - | €295 | €731 | ▲ 148% |
| Operating cash flow (approximation) | €32,503 | €41,017 | €34,480 | ▼ 15.9% |
| Investment in fixed assets (approximation) | - | - | €0 | - |
| Change in cash | - | -€18,782 | €8,982 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.