Financials · financial year 2025, micro format
Annual accounts 2025 filed on 18-06-2026 at the NBB all 6 filings
Equity
€202,476▼ 14.6%
2024 · €237,183
Net result
€25,294▼ 23.2%
2024 · €32,924
Total assets
€294,167▲ 11.1%
2024 · €264,702
Solvency
68.8%▼ 20.8pp
2024 · 89.6%
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
€33,508
▼ 23.4%
2025
20202025
Net result
€25,294
▼ 23.2%
2025
middle half of the sector
20202025
Equity
€202,476
▼ 14.6%
2025
middle half of the sector
20202025
Total assets
€294,167
▲ 11.1%
2025
middle half of the sector
20202025
Debt
€91,691
▲ 233%
2025
20202025
Working capital
-€13,238
2025
middle half of the sector
20202025
Solvency
68.8%
▼ 20.8pp
2025
middle half of the sector
20202025
Current ratio
0.86
▼ 1.04
2025
middle half of the sector
20202025
Return on assets (ROA)
8.6%
▼ 3.8pp
2025
middle half of the sector
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€10,447-€2,060▼ 80.3%€3,670▲ 78.2%€9,366▲ 155%€43,728▲ 367%€33,508▼ 23.4%
Net result€5,141within the sector's middle half-€516below the sector's middle half▼ 90.0%€2,199below the sector's middle half▲ 326%€6,402within the sector's middle half▲ 191%€32,924within the sector's middle half▲ 414%€25,294within the sector's middle half▼ 23.2%
Equity€205,141within the sector's middle half-€205,657within the sector's middle half▲ 0.3%€207,856within the sector's middle half▲ 1.1%€209,258within the sector's middle half▲ 0.7%€237,183within the sector's middle half▲ 13.3%€202,476within the sector's middle half▼ 14.6%
Total assets€229,708within the sector's middle half-€239,393within the sector's middle half▲ 4.2%€216,170within the sector's middle half▼ 9.7%€228,583within the sector's middle half▲ 5.7%€264,702within the sector's middle half▲ 15.8%€294,167within the sector's middle half▲ 11.1%
Debt€24,567-€33,736▲ 37.3%€8,314▼ 75.4%€19,325▲ 132%€27,519▲ 42.4%€91,691▲ 233%
Working capital€5,141within the sector's middle half--€6,743within the sector's middle half-€4,544within the sector's middle half▲ 32.6%-€3,142within the sector's middle half▲ 30.9%€24,783within the sector's middle half-€13,238within the sector's middle half
Solvency89.3%above the sector's middle half-85.9%above the sector's middle half▼ 3.4pp96.2%above the sector's middle half▲ 10.2pp91.5%above the sector's middle half▼ 4.6pp89.6%above the sector's middle half▼ 1.9pp68.8%within the sector's middle half▼ 20.8pp
Current ratio1.21within the sector's middle half-0.80within the sector's middle half▼ 0.410.45below the sector's middle half▼ 0.350.84within the sector's middle half▲ 0.381.90within the sector's middle half▲ 1.060.86within the sector's middle half▼ 1.04
Return on assets (ROA)2.2%within the sector's middle half-0.2%below the sector's middle half▼ 2.0pp1.0%below the sector's middle half▲ 0.8pp2.8%within the sector's middle half▲ 1.8pp12.4%within the sector's middle half▲ 9.6pp8.6%within the sector's middle half▼ 3.8pp
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 23% 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 €294,167
Fixed assets
€215,714 ▲ 1.6%
Current assets
€78,453 ▲ 50.0%
Equity and liabilities €294,167
Equity
€202,476 ▼ 14.6%
Debt
€91,691 ▲ 233%
Debt's share of the balance-sheet total rises from 10.4% to 31.2%. Equity is lower and debt is higher.
Key figures and ratios
ROE
12.5%▼
2024 · 13.9%
Debt ≤ 1 year
€91,691▲
2024 · €27,519
Income taxes
€8,157▼
2024 · €10,163
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 | - | - | - | - | €3,698 |
| Financial fixed assets | €12,400 | - | - | - | - |
| Depreciation and write-downs of the year | - | - | - | - | €383 |
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 | - | - | - | - | - | €383 | - |
| Other operating charges640/8 | - | €138 | €487 | €146 | €1,093 | €623 | ▼ 43.0% |
| Gross operating margin9900 | €10,826 | €2,199 | €4,157 | €9,513 | €44,821 | €34,515 | ▼ 23.0% |
| Operating profit (loss)9901 | €10,447 | €2,060 | €3,670 | €9,366 | €43,728 | €33,508 | ▼ 23.4% |
| Financial income75/76B | - | - | - | - | €1 | €26 | ▲ 27× |
| Recurring financial income75 | - | - | - | - | €1 | €26 | ▲ 27× |
| Financial charges65/66B | - | €54 | €80 | €291 | €641 | €84 | ▼ 86.9% |
| Recurring financial charges65 | €144 | €54 | €80 | €291 | €641 | €84 | ▼ 86.9% |
| Profit (loss) for the period before taxes9903 | €10,303 | €2,006 | €3,590 | €9,075 | €43,088 | €33,451 | ▼ 22.4% |
| Income taxes67/77 | €5,162 | €1,490 | €1,391 | €2,673 | €10,163 | €8,157 | ▼ 19.7% |
| Profit (loss) for the period9904 | €5,141 | €516 | €2,199 | €6,402 | €32,924 | €25,294 | ▼ 23.2% |
| Profit (loss) for the period to be appropriated9905 | €5,141 | €516 | €2,199 | €6,402 | €32,924 | €25,294 | ▼ 23.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €229,708 | €239,393 | €216,170 | €228,583 | €264,702 | €294,167 | ▲ 11.1% |
| Fixed assets21/28 | €200,000 | €212,400 | €212,400 | €212,400 | €212,400 | €215,714 | ▲ 1.6% |
| Tangible fixed assets22/27 | - | - | - | - | - | €3,314 | - |
| Plant, machinery and equipment23 | - | - | - | - | - | €3,314 | - |
| Financial fixed assets28 | €200,000 | €212,400 | €212,400 | €212,400 | €212,400 | €212,400 | = |
| Current assets29/58 | €29,708 | €26,993 | €3,770 | €16,183 | €52,302 | €78,453 | ▲ 50.0% |
| Amounts receivable within one year40/41 | €29,708 | €0 | €795 | €15,601 | €34,346 | €19,022 | ▼ 44.6% |
| Trade receivables40 | - | €0 | - | €15,188 | €12,938 | €19,022 | ▲ 47.0% |
| Other amounts receivable41 | - | €0 | €795 | €413 | €21,408 | €0 | ▼ 100% |
| Current investments50/53 | - | - | - | - | - | €2,000 | - |
| Cash at bank and in hand54/58 | - | €26,015 | €1,948 | €0 | €17,511 | €57,431 | ▲ 228% |
| Deferred charges and accrued income490/1 | - | €978 | €1,028 | €583 | €446 | €0 | ▼ 100% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €229,708 | €239,393 | €216,170 | €228,583 | €264,702 | €294,167 | ▲ 11.1% |
| Equity10/15 | €205,141 | €205,657 | €207,856 | €209,258 | €237,183 | €202,476 | ▼ 14.6% |
| Contributions10/11 | - | €200,000 | €200,000 | €200,000 | €200,000 | €200,000 | = |
| Profit (loss) carried forward14 | €5,141 | €5,657 | €7,856 | €9,258 | €37,183 | €2,476 | ▼ 93.3% |
| Amounts payable17/49 | €24,567 | €33,736 | €8,314 | €19,325 | €27,519 | €91,691 | ▲ 233% |
| Amounts payable within one year42/48 | €24,567 | €33,736 | €8,314 | €19,325 | €27,519 | €91,691 | ▲ 233% |
| Financial debts43 | - | €0 | - | €4,590 | €0 | - | - |
| Credit institutions430/8 | - | €0 | - | €4,590 | €0 | - | - |
| Trade debts44 | €334 | €16,320 | €4,108 | €1,158 | €721 | €1,663 | ▲ 131% |
| Suppliers440/4 | - | €16,320 | €4,108 | €1,158 | €721 | €1,663 | ▲ 131% |
| Taxes, remuneration and social security45 | - | €16,124 | €2,915 | €7,286 | €21,798 | €26,996 | ▲ 23.8% |
| Taxes450/3 | - | €16,124 | €2,915 | €7,286 | €21,798 | €26,996 | ▲ 23.8% |
| Remuneration and social security454/9 | - | €0 | - | - | - | - | - |
| Other amounts payable47/48 | - | €1,292 | €1,292 | €6,292 | €5,000 | €63,032 | ▲ 13× |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,141 | €516 | €2,199 | €6,402 | €32,924 | €25,294 | ▼ 23.2% |
| + Depreciation and write-downs630 | - | - | - | - | - | €383 | - |
| Operating cash flow (approximation) | €5,141 | €516 | €2,199 | €6,402 | €32,924 | €25,677 | ▼ 22.0% |
| Investment in fixed assets (approximation) | - | -€12,400 | €0 | €0 | €0 | -€3,698 | - |
| Change in cash | - | - | -€24,067 | -€1,948 | €17,511 | €39,921 | ▲ 128% |
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 | 18-06-2026 | 2026-00172466 | |
| 31-12-2024 | micro format | 18-06-2025 | 2025-00149260 | |
| 31-12-2023 | micro format | 10-07-2024 | 2024-00231102 | |
| 31-12-2022 | micro format | 23-06-2023 | 2023-00151741 | |
| 31-12-2021 | micro format | 24-06-2022 | 2022-20092664 | |
| 31-12-2020 | micro format | 18-06-2021 | 2021-21500202 |