Financials · financial year 2025, micro format
Annual accounts 2025 filed on 10-07-2026 at the NBB all 6 filings
Equity
€42,551▲ 29.1%
2024 · €32,970
Net result
€39,551▲ 32.0%
2024 · €29,970
Total assets
€62,789▲ 4.0%
2024 · €60,393
Solvency
67.8%▲ 13.2pp
2024 · 54.6%
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
€53,357
▲ 26.6%
2025
20202025
Net result
€39,551
▲ 32.0%
2025
middle half of the sector
20202025
Equity
€42,551
▲ 29.1%
2025
middle half of the sector
20202025
Total assets
€62,789
▲ 4.0%
2025
lowest quarter of the sector
20202025
Debt
€20,239
▼ 26.2%
2025
20202025
Working capital
€32,541
▲ 99.5%
2025
middle half of the sector
20202025
Solvency
67.8%
▲ 13.2pp
2025
middle half of the sector
20202025
Current ratio
2.61
▲ 1.01
2025
middle half of the sector
20202025
Return on assets (ROA)
63.0%
▲ 13.4pp
2025
highest quarter of the sector
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€16,060-€7,319▼ 54.4%-€2,463€30,702€42,145▲ 37.3%€53,357▲ 26.6%
Net result€9,480within the sector's middle half-€1,547below the sector's middle half▼ 83.7%-€5,674below the sector's middle half€21,243within the sector's middle half€29,970within the sector's middle half▲ 41.1%€39,551within the sector's middle half▲ 32.0%
Equity€12,480below the sector's middle half-€14,027below the sector's middle half▲ 12.4%€8,352below the sector's middle half▼ 40.5%€29,596below the sector's middle half▲ 254%€32,970below the sector's middle half▲ 11.4%€42,551within the sector's middle half▲ 29.1%
Total assets€29,924below the sector's middle half-€37,534below the sector's middle half▲ 25.4%€34,562below the sector's middle half▼ 7.9%€60,600below the sector's middle half▲ 75.3%€60,393below the sector's middle half▼ 0.3%€62,789below the sector's middle half▲ 4.0%
Debt€17,445-€23,508▲ 34.8%€26,210▲ 11.5%€31,005▲ 18.3%€27,423▼ 11.6%€20,239▼ 26.2%
Working capital€9,072within the sector's middle half-€8,522within the sector's middle half▼ 6.1%€5,482within the sector's middle half▼ 35.7%€22,742within the sector's middle half▲ 315%€16,313within the sector's middle half▼ 28.3%€32,541within the sector's middle half▲ 99.5%
Solvency41.7%within the sector's middle half-37.4%within the sector's middle half▼ 4.3pp24.2%within the sector's middle half▼ 13.2pp48.8%within the sector's middle half▲ 24.7pp54.6%within the sector's middle half▲ 5.8pp67.8%within the sector's middle half▲ 13.2pp
Current ratio1.53within the sector's middle half-1.37within the sector's middle half▼ 0.161.21within the sector's middle half▼ 0.161.81within the sector's middle half▲ 0.591.59within the sector's middle half▼ 0.212.61within the sector's middle half▲ 1.01
Return on assets (ROA)31.7%above the sector's middle half-4.1%within the sector's middle half▼ 27.6pp-16.4%below the sector's middle half▼ 20.5pp35.1%above the sector's middle half▲ 51.5pp49.6%above the sector's middle half▲ 14.6pp63.0%above the sector's middle half▲ 13.4pp
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 27% higher than in 2024 and the highest since 2020. It is the third rise in a row, after the fall in 2022.
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 €62,789
Fixed assets
€10,010 ▼ 39.9%
Current assets
€52,780 ▲ 20.7%
Equity and liabilities €62,789
Equity
€42,551 ▲ 29.1%
Debt
€20,239 ▼ 26.2%
Debt's share of the balance-sheet total falls from 45.4% to 32.2%. Equity is higher and debt is lower.
Key figures and ratios
ROE
92.9%▲
2024 · 90.9%
Debt ≤ 1 year
€20,239▼
2024 · €27,423
Income taxes
€14,096▲
2024 · €11,607
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 | €4,318 | - | €8,765 | €10,553 | €920 |
| Depreciation and write-downs of the year | €2,058 | €2,599 | €2,263 | €3,511 | €7,567 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €940 | €2,058 | €2,599 | €2,263 | €3,511 | €7,567 | ▲ 116% |
| Other operating charges640/8 | - | €1,169 | €1,254 | €2,539 | €1,570 | €1,523 | ▼ 3.0% |
| Gross operating margin9900 | €20,056 | €10,545 | €1,390 | €35,504 | €47,226 | €62,446 | ▲ 32.2% |
| Operating profit (loss)9901 | €16,060 | €7,319 | -€2,463 | €30,702 | €42,145 | €53,357 | ▲ 26.6% |
| Financial income75/76B | - | €0 | €360 | €615 | €326 | €756 | ▲ 132% |
| Recurring financial income75 | €0 | €0 | €360 | €615 | €326 | €756 | ▲ 132% |
| Financial charges65/66B | - | €1,803 | €1,257 | €1,332 | €894 | €466 | ▼ 47.9% |
| Recurring financial charges65 | €1,769 | €1,803 | €1,257 | €1,332 | €894 | €466 | ▼ 47.9% |
| Profit (loss) for the period before taxes9903 | €14,291 | €5,516 | -€3,360 | €29,985 | €41,577 | €53,647 | ▲ 29.0% |
| Income taxes67/77 | €4,812 | €3,969 | €2,314 | €8,741 | €11,607 | €14,096 | ▲ 21.4% |
| Profit (loss) for the period9904 | €9,480 | €1,547 | -€5,674 | €21,243 | €29,970 | €39,551 | ▲ 32.0% |
| Profit (loss) for the period to be appropriated9905 | €9,480 | €1,547 | -€5,674 | €21,243 | €29,970 | €39,551 | ▲ 32.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €29,924 | €37,534 | €34,562 | €60,600 | €60,393 | €62,789 | ▲ 4.0% |
| Fixed assets21/28 | €3,582 | €5,842 | €3,243 | €9,615 | €16,657 | €10,010 | ▼ 39.9% |
| Tangible fixed assets22/27 | €3,582 | €5,842 | €3,243 | €9,615 | €16,657 | €10,010 | ▼ 39.9% |
| Furniture and vehicles24 | - | €5,842 | €3,243 | €9,615 | €16,657 | €10,010 | ▼ 39.9% |
| Current assets29/58 | €26,342 | €31,692 | €31,319 | €50,986 | €43,736 | €52,780 | ▲ 20.7% |
| Amounts receivable after more than one year29 | - | - | €12,000 | €20,500 | €0 | - | - |
| Other amounts receivable291 | - | - | €12,000 | €20,500 | €0 | - | - |
| Amounts receivable within one year40/41 | €12,123 | - | €141 | €16,691 | €27,665 | €41,577 | ▲ 50.3% |
| Trade receivables40 | - | - | - | €16,691 | €16,905 | €20,696 | ▲ 22.4% |
| Other amounts receivable41 | - | - | €141 | €0 | €10,760 | €20,881 | ▲ 94.1% |
| Cash at bank and in hand54/58 | €13,684 | €31,463 | €18,297 | €13,248 | €15,540 | €10,198 | ▼ 34.4% |
| Deferred charges and accrued income490/1 | - | €230 | €880 | €547 | €531 | €1,004 | ▲ 89.2% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €29,924 | €37,534 | €34,562 | €60,600 | €60,393 | €62,789 | ▲ 4.0% |
| Equity10/15 | €12,480 | €14,027 | €8,352 | €29,596 | €32,970 | €42,551 | ▲ 29.1% |
| Contributions10/11 | - | €3,000 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Reserves13 | €9,480 | €11,027 | €5,352 | €26,596 | €29,970 | €39,551 | ▲ 32.0% |
| Distributable reserves133 | - | €11,027 | €5,352 | €26,596 | €29,970 | €39,551 | ▲ 32.0% |
| Profit (loss) carried forward14 | - | - | - | - | €0 | €0 | - |
| Amounts payable17/49 | €17,445 | €23,508 | €26,210 | €31,005 | €27,423 | €20,239 | ▼ 26.2% |
| Amounts payable after more than one year17 | - | - | - | €2,586 | €0 | - | - |
| Financial debts170/4 | - | - | - | €2,586 | €0 | - | - |
| Amounts payable within one year42/48 | €17,270 | €23,170 | €25,836 | €28,244 | €27,423 | €20,239 | ▼ 26.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €2,966 | €2,586 | €0 | ▼ 100% |
| Trade debts44 | €321 | €1,848 | €2,716 | €2,291 | €3,566 | €3,087 | ▼ 13.4% |
| Suppliers440/4 | - | €1,848 | €2,716 | €2,291 | €3,566 | €3,087 | ▼ 13.4% |
| Taxes, remuneration and social security45 | - | €21,122 | €23,120 | €22,904 | €21,272 | €17,151 | ▼ 19.4% |
| Taxes450/3 | - | €21,122 | €19,370 | €19,154 | €21,272 | €17,151 | ▼ 19.4% |
| Remuneration and social security454/9 | - | - | €3,750 | €3,750 | €0 | - | - |
| Other amounts payable47/48 | - | €200 | €0 | €83 | €0 | - | - |
| Accrued charges and deferred income492/3 | - | €338 | €373 | €175 | €0 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9,480 | €1,547 | -€5,674 | €21,243 | €29,970 | €39,551 | ▲ 32.0% |
| + Depreciation and write-downs630 | €940 | €2,058 | €2,599 | €2,263 | €3,511 | €7,567 | ▲ 116% |
| Operating cash flow (approximation) | €10,420 | €3,605 | -€3,075 | €23,506 | €33,481 | €47,118 | ▲ 40.7% |
| Investment in fixed assets (approximation) | - | -€4,318 | €0 | -€8,634 | -€10,553 | -€920 | ▲ 91.3% |
| Change in cash | - | €17,778 | -€13,165 | -€5,049 | €2,292 | -€5,342 | - |
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 (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 10-07-2026 | 2026-00282103 | |
| 31-12-2024 | micro format | 07-07-2025 | 2025-00235218 | |
| 31-12-2023 | micro format | 30-07-2024 | 2024-00313177 | |
| 31-12-2022 | micro format | 03-07-2023 | 2023-00187970 | |
| 31-12-2021 | micro format | 18-07-2022 | 2022-20193943 | |
| 31-12-2020 | micro format | 06-07-2021 | 2021-30800568 |