Financials · financial year 2025, full format
Annual accounts 2025 filed on 17-07-2026 at the NBB all 41 filings
Equity
€101,960▼ 21.5%
2024 · €129,957
Net result
-€27,997▲ 73.5%
2024 · -€105,797
Total assets
€487,590▼ 7.5%
2024 · €527,369
Solvency
20.9%▼ 3.7pp
2024 · 24.6%
In the rankings
#2 oldest company in Zwevegem, Finance and insurance sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€25,241
▲ 74.6%
2025
20182025
Net result
-€27,997
▲ 73.5%
2025
lowest quarter of the sector
20182025
Equity
€101,960
▼ 21.5%
2025
lowest quarter of the sector
20182025
Total assets
€487,590
▼ 7.5%
2025
lowest quarter of the sector
20182025
Debt
€385,630
▼ 3.0%
2025
20182025
Working capital
-€81,679
▲ 24.2%
2025
middle half of the sector
20182025
Solvency
20.9%
▼ 3.7pp
2025
lowest quarter of the sector
20182025
Current ratio
0.23
▲ 0.14
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
-5.7%
▲ 14.3pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.01m-€0.02m▲ 10.1%€0.2m▲ 973%€0.03m▼ 82.7%€0.2m▲ 536%€0.02m▼ 87.1%-€0.1m-€0.03m▲ 74.6%
Net result-€0.004m-€0.008m€0.2mabove the sector's middle half▲ 19×€0.03mwithin the sector's middle half▼ 83.7%€0.2mwithin the sector's middle half▲ 531%€0.01mwithin the sector's middle half▼ 92.5%-€0.1mbelow the sector's middle half-€0.03mbelow the sector's middle half▲ 73.5%
Equity-€0.1m--€0.1m▲ 6.7%€0.04mbelow the sector's middle half€0.06mbelow the sector's middle half▲ 63.6%€0.2mwithin the sector's middle half▲ 245%€0.2mwithin the sector's middle half▲ 5.3%€0.1mbelow the sector's middle half▼ 44.9%€0.1mbelow the sector's middle half▼ 21.5%
Total assets€0.9m-€0.9m▼ 5.7%€0.8mwithin the sector's middle half▼ 1.9%€0.7mwithin the sector's middle half▼ 16.0%€0.8mwithin the sector's middle half▲ 11.5%€0.7mwithin the sector's middle half▼ 13.2%€0.5mbelow the sector's middle half▼ 22.3%€0.5mbelow the sector's middle half▼ 7.5%
Debt€1.0m-€1.0m▼ 5.8%€0.8m▼ 17.6%€0.6m▼ 20.0%€0.6m▼ 12.3%€0.4m▼ 20.6%€0.4m▼ 10.3%€0.4m▼ 3.0%
Working capital-€0.3m--€0.3m▼ 1.4%-€0.06mwithin the sector's middle half▲ 77.8%-€0.03mwithin the sector's middle half▲ 53.8%€0.1mwithin the sector's middle half-€0.02mwithin the sector's middle half-€0.1mwithin the sector's middle half▼ 559%-€0.08mwithin the sector's middle half▲ 24.2%
Solvency-13.6%--13.5%▲ 0.1pp4.7%below the sector's middle half▲ 18.2pp9.2%below the sector's middle half▲ 4.5pp28.6%within the sector's middle half▲ 19.4pp34.7%within the sector's middle half▲ 6.1pp24.6%below the sector's middle half▼ 10.1pp20.9%below the sector's middle half▼ 3.7pp
Current ratio0.21-0.15▼ 0.060.68within the sector's middle half▲ 0.530.76within the sector's middle half▲ 0.081.74within the sector's middle half▲ 0.980.85within the sector's middle half▼ 0.890.08below the sector's middle half▼ 0.770.23below the sector's middle half▲ 0.14
Return on assets (ROA)-0.5%-1.0%▲ 1.4pp18.5%above the sector's middle half▲ 17.5pp3.6%within the sector's middle half▼ 14.9pp20.3%above the sector's middle half▲ 16.7pp1.8%within the sector's middle half▼ 18.6pp-20.1%below the sector's middle half▼ 21.8pp-5.7%below the sector's middle half▲ 14.3pp
Staff (FTE)1.5within the sector's middle half
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 €25,241, smaller than the loss of €99,528 in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €487,590
Fixed assets
€463,639 ▼ 10.4%
Current assets
€23,952 ▲ 149%
Equity and liabilities €487,590
Equity
€101,960 ▼ 21.5%
Debt
€385,630 ▼ 3.0%
Debt's share of the balance-sheet total rises from 75.4% to 79.1%. Equity and debt are lower.
Key figures and ratios
ROE
-27.5%▲
2024 · -81.4%
Debt ≤ 1 year
€105,630▼
2024 · €117,413
Debt > 1 year
€280,000=
2024 · €280,000
Income taxes
€310▼
2024 · €682
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €160,000 | €120,000 | €80,000 | €40,000 | - |
| Mortgages, amount registered | €0 | €0 | - | - | - |
| Mortgage mandates | €400,000 | €400,000 | €400,000 | €400,000 | €400,000 |
| Carrying value of the mortgaged assets | €612,288 | €558,478 | €584,197 | €517,741 | €463,639 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €7,986 | €50,992 | €112,281 | €21,681 | €23,093 |
| Depreciation and write-downs of the year | €104,808 | €104,802 | €86,561 | €88,137 | €77,195 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €0 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €107,501 | €114,639 | €105,356 | €104,808 | €104,802 | €86,561 | €88,137 | €77,195 | ▼ 12.4% |
| Other operating charges640/8 | - | - | - | €3,940 | €3,690 | €3,579 | €3,719 | €4,530 | ▲ 21.8% |
| Gross operating margin9900 | €124,567 | €133,133 | €398,891 | €136,592 | €285,711 | €112,967 | -€7,672 | €56,484 | - |
| Operating profit (loss)9901 | €13,662 | €15,039 | €161,355 | €27,845 | €177,219 | €22,827 | -€99,528 | -€25,241 | ▲ 74.6% |
| Financial income75/76B | - | - | - | €53 | €0 | - | - | €401 | - |
| Recurring financial income75 | - | €442 | €8 | €53 | €0 | - | - | €401 | - |
| Financial charges65/66B | - | - | - | €2,429 | €2,238 | €7,489 | €5,586 | €2,846 | ▼ 49.0% |
| Recurring financial charges65 | €17,783 | €7,299 | €6,978 | €2,429 | €2,238 | €7,489 | €5,586 | €2,846 | ▼ 49.0% |
| Profit (loss) for the period before taxes9903 | -€4,120 | €8,181 | €154,384 | €25,468 | €174,981 | €15,338 | -€105,115 | -€27,687 | ▲ 73.7% |
| Income taxes67/77 | - | - | - | €271 | €16,000 | €3,398 | €682 | €310 | ▼ 54.6% |
| Profit (loss) for the period9904 | -€4,120 | €8,181 | €154,384 | €25,197 | €158,981 | €11,940 | -€105,797 | -€27,997 | ▲ 73.5% |
| Profit (loss) for the period to be appropriated9905 | -€4,120 | €8,181 | €154,384 | €25,197 | €158,981 | €11,940 | -€105,797 | -€27,997 | ▲ 73.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.9m | €0.9m | €0.8m | €0.7m | €0.8m | €0.7m | €0.5m | €0.5m | ▼ 7.5% |
| Fixed assets21/28 | €0.8m | €0.8m | €0.7m | €0.6m | €0.6m | €0.6m | €0.5m | €0.5m | ▼ 10.4% |
| Tangible fixed assets22/27 | €0.8m | €0.8m | €0.7m | €0.6m | €0.6m | €0.6m | €0.5m | €0.5m | ▼ 10.4% |
| Land and buildings22 | - | - | - | €0.6m | €0.5m | €0.5m | €0.5m | €0.4m | ▼ 10.3% |
| Plant, machinery and equipment23 | - | - | - | €0.05m | €0.02m | €0.03m | €0.04m | €0.03m | ▼ 12.0% |
| Furniture and vehicles24 | - | - | - | €0.004m | €0.003m | €0.003m | €0.002m | €0.002m | ▼ 18.4% |
| Current assets29/58 | €0.07m | €0.05m | €0.1m | €0.09m | €0.2m | €0.09m | €0.01m | €0.02m | ▲ 149% |
| Amounts receivable within one year40/41 | €0.02m | €417 | €0.009m | €0.02m | €0 | €0.08m | €0 | €0.01m | - |
| Trade receivables40 | - | - | - | €0.02m | €0 | €0.08m | €0 | €0.01m | - |
| Cash at bank and in hand54/58 | €0.05m | €0.05m | €0.1m | €0.07m | €0.2m | €0.006m | €0.005m | €0.003m | ▼ 39.1% |
| Deferred charges and accrued income490/1 | - | - | - | €0.002m | €0.004m | €0.01m | €0.004m | €0.006m | ▲ 35.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.9m | €0.9m | €0.8m | €0.7m | €0.8m | €0.7m | €0.5m | €0.5m | ▼ 7.5% |
| Equity10/15 | -€0.1m | -€0.1m | €0.04m | €0.06m | €0.2m | €0.2m | €0.1m | €0.1m | ▼ 21.5% |
| Contributions10/11 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Capital10 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Issued capital100 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | = |
| Reserves13 | €0.03m | €0.03m | €0.03m | €0.03m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Non-distributable reserves130/1 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Legal reserve130 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Distributable reserves133 | - | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Profit (loss) carried forward14 | -€0.5m | -€0.4m | -€0.3m | -€0.3m | -€0.3m | -€0.3m | -€0.4m | -€0.4m | ▼ 7.6% |
| Amounts payable17/49 | €1.0m | €1.0m | €0.8m | €0.6m | €0.6m | €0.4m | €0.4m | €0.4m | ▼ 3.0% |
| Amounts payable after more than one year17 | €0.7m | €0.7m | €0.6m | €0.5m | €0.4m | €0.3m | €0.3m | €0.3m | = |
| Financial debts170/4 | - | - | - | €0.1m | €0.08m | €0.04m | €0 | - | - |
| Other amounts payable178/9 | - | - | - | €0.4m | €0.4m | €0.3m | €0.3m | €0.3m | = |
| Amounts payable within one year42/48 | €0.3m | €0.3m | €0.2m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 10.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.04m | €0.04m | €0.04m | €0.04m | €0 | ▼ 100% |
| Trade debts44 | €0.02m | €0.001m | €0.01m | €0.006m | €0.02m | €0.02m | €0.01m | €0.007m | ▼ 48.3% |
| Suppliers440/4 | - | - | - | €0.006m | €0.02m | €0.02m | €0.01m | €0.007m | ▼ 48.3% |
| Taxes, remuneration and social security45 | - | - | - | €0.008m | €0.05m | €0.04m | €0.001m | €0.005m | ▲ 701% |
| Taxes450/3 | - | - | - | €0.008m | €0.05m | €0.04m | €0.001m | €0.005m | ▲ 701% |
| Remuneration and social security454/9 | - | - | - | €0 | - | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €0.06m | €0.02m | €0.02m | €0.06m | €0.09m | ▲ 47.0% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €0.01m | €0 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,120 | €8,181 | €154,384 | €25,197 | €158,981 | €11,940 | -€105,797 | -€27,997 | ▲ 73.5% |
| + Depreciation and write-downs630 | €107,501 | €114,639 | €105,356 | €104,808 | €104,802 | €86,561 | €88,137 | €77,195 | ▼ 12.4% |
| Operating cash flow (approximation) | €103,380 | €122,820 | €259,740 | €130,005 | €263,784 | €98,501 | -€17,660 | €49,198 | - |
| Investment in fixed assets (approximation) | - | -€86,447 | -€10,900 | -€7,986 | -€50,992 | -€112,281 | -€21,681 | -€23,093 | ▼ 6.5% |
| Change in cash | - | -€7,796 | €70,253 | -€45,473 | €149,354 | -€213,172 | -€873 | -€2,034 | ▼ 133% |
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 41 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 17-07-2026 | 2026-00306037 | |
| 31-12-2024 | abbreviated format | 10-07-2025 | 2025-00257294 | |
| 31-12-2023 | abbreviated format | 18-07-2024 | 2024-00274419 | |
| 31-12-2022 | abbreviated format | 13-07-2023 | 2023-00238169 | |
| 31-12-2021 | abbreviated format | 20-07-2022 | 2022-20210904 | |
| 31-12-2020 | abbreviated format | 19-06-2021 | 2021-22300365 | |
| 31-12-2019 | abbreviated format | 06-07-2020 | 2020-26900357 | |
| 31-12-2018 | abbreviated format | 16-07-2019 | 2019-33600362 | |
| 31-12-2017 | abbreviated format | 15-06-2018 | 2018-19500512 | |
| 31-12-2016 | abbreviated format | 06-07-2017 | 2017-28800456 |