Financials · financial year 2025, micro format
Annual accounts 2025 filed on 23-07-2026 at the NBB all 5 filings
Equity
€66,229▼ 18.0%
2024 · €80,794
Net result
€60,435▼ 6.2%
2024 · €64,446
Total assets
€148,995▲ 29.7%
2024 · €114,838
Solvency
44.5%▼ 25.9pp
2024 · 70.4%
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€78,979
▼ 0.4%
2025
20212025
Net result
€60,435
▼ 6.2%
2025
middle half of the sector
20212025
Equity
€66,229
▼ 18.0%
2025
middle half of the sector
20212025
Total assets
€148,995
▲ 29.7%
2025
middle half of the sector
20212025
Debt
€82,766
▲ 143%
2025
20212025
Working capital
€50,247
▼ 17.5%
2025
middle half of the sector
20212025
Solvency
44.5%
▼ 25.9pp
2025
middle half of the sector
20212025
Current ratio
1.61
▼ 1.18
2025
middle half of the sector
20212025
Return on assets (ROA)
40.6%
▼ 15.6pp
2025
highest quarter of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result€71,056-€43,676▼ 38.5%-€19,765€79,336€78,979▼ 0.4%
Net result€55,842within the sector's middle half-€33,956within the sector's middle half▼ 39.2%-€22,085below the sector's middle half€64,446within the sector's middle half€60,435within the sector's middle half▼ 6.2%
Equity€60,842below the sector's middle half-€93,198within the sector's middle half▲ 53.2%€71,113within the sector's middle half▼ 23.7%€80,794within the sector's middle half▲ 13.6%€66,229within the sector's middle half▼ 18.0%
Total assets€61,633below the sector's middle half-€104,261below the sector's middle half▲ 69.2%€84,291below the sector's middle half▼ 19.2%€114,838below the sector's middle half▲ 36.2%€148,995within the sector's middle half▲ 29.7%
Debt€791-€11,063▲ 14×€13,178▲ 19.1%€34,044▲ 158%€82,766▲ 143%
Working capital€53,548within the sector's middle half-€68,490within the sector's middle half▲ 27.9%€49,202within the sector's middle half▼ 28.2%€60,922within the sector's middle half▲ 23.8%€50,247within the sector's middle half▼ 17.5%
Solvency98.7%above the sector's middle half-89.4%above the sector's middle half▼ 9.3pp84.4%above the sector's middle half▼ 5.0pp70.4%within the sector's middle half▼ 14.0pp44.5%within the sector's middle half▼ 25.9pp
Current ratio68.72above the sector's middle half-7.19above the sector's middle half▼ 61.524.73above the sector's middle half▼ 2.462.79within the sector's middle half▼ 1.941.61within the sector's middle half▼ 1.18
Return on assets (ROA)90.6%above the sector's middle half-32.6%above the sector's middle half▼ 58.0pp-26.2%below the sector's middle half▼ 58.8pp56.1%above the sector's middle half▲ 82.3pp40.6%above the sector's middle half▼ 15.6pp
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 0% lower than in 2024.
Turnover and EBIT margin are not published. The abbreviated or 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 €148,995
Fixed assets
€15,982 ▼ 19.6%
Current assets
€133,013 ▲ 40.1%
Equity and liabilities €148,995
Equity
€66,229 ▼ 18.0%
Debt
€82,766 ▲ 143%
Debt's share of the balance-sheet total rises from 29.6% to 55.5%. Equity is lower and debt is higher.
Key figures and ratios
ROE
91.3%▲
2024 · 79.8%
Debt ≤ 1 year
€82,766▲
2024 · €34,044
Income taxes
€16,572▲
2024 · €12,669
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 | €8,390 | €20,287 | €1,541 | €2,398 | €1,074 |
| Depreciation and write-downs of the year | €1,096 | €2,873 | €4,338 | €4,437 | €4,964 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,096 | €2,873 | €4,338 | €4,437 | €4,964 | ▲ 11.9% |
| Other operating charges640/8 | €62 | €257 | €33,689 | €664 | €682 | ▲ 2.8% |
| Gross operating margin9900 | €72,214 | €46,806 | €18,262 | €84,437 | €84,626 | ▲ 0.2% |
| Operating profit (loss)9901 | €71,056 | €43,676 | -€19,765 | €79,336 | €78,979 | ▼ 0.4% |
| Financial income75/76B | €531 | €359 | €89 | €132 | €0 | ▼ 100% |
| Recurring financial income75 | €531 | €359 | €89 | €132 | €0 | ▼ 100% |
| Financial charges65/66B | €1,631 | €1,635 | €2,151 | €2,353 | €1,973 | ▼ 16.2% |
| Recurring financial charges65 | €1,631 | €1,635 | €2,151 | €2,353 | €1,973 | ▼ 16.2% |
| Profit (loss) for the period before taxes9903 | €69,956 | €42,400 | -€21,828 | €77,115 | €77,007 | ▼ 0.1% |
| Income taxes67/77 | €14,115 | €8,443 | €257 | €12,669 | €16,572 | ▲ 30.8% |
| Profit (loss) for the period9904 | €55,842 | €33,956 | -€22,085 | €64,446 | €60,435 | ▼ 6.2% |
| Profit (loss) for the period to be appropriated9905 | €55,842 | €33,956 | -€22,085 | €64,446 | €60,435 | ▼ 6.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €61,633 | €104,261 | €84,291 | €114,838 | €148,995 | ▲ 29.7% |
| Fixed assets21/28 | €7,294 | €24,709 | €21,911 | €19,872 | €15,982 | ▼ 19.6% |
| Tangible fixed assets22/27 | €7,294 | €24,709 | €21,911 | €19,872 | €15,982 | ▼ 19.6% |
| Plant, machinery and equipment23 | €6,399 | €16,361 | €14,379 | €12,398 | €10,416 | ▼ 16.0% |
| Furniture and vehicles24 | €895 | €8,348 | €7,531 | €7,474 | €5,566 | ▼ 25.5% |
| Current assets29/58 | €54,339 | €79,552 | €62,381 | €94,966 | €133,013 | ▲ 40.1% |
| Amounts receivable within one year40/41 | €23,305 | €20,142 | €1,711 | €1,611 | €20,471 | ▲ 13× |
| Trade receivables40 | €17,142 | €17,818 | €0 | - | €18,150 | - |
| Other amounts receivable41 | €6,164 | €2,324 | €1,711 | €1,611 | €2,321 | ▲ 44.1% |
| Current investments50/53 | - | - | €250 | €250 | €250 | = |
| Cash at bank and in hand54/58 | €28,671 | €56,014 | €55,812 | €88,265 | €107,278 | ▲ 21.5% |
| Deferred charges and accrued income490/1 | €2,362 | €3,396 | €4,608 | €4,840 | €5,014 | ▲ 3.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €61,633 | €104,261 | €84,291 | €114,838 | €148,995 | ▲ 29.7% |
| Equity10/15 | €60,842 | €93,198 | €71,113 | €80,794 | €66,229 | ▼ 18.0% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | €55,842 | €88,198 | €66,113 | €75,794 | €61,229 | ▼ 19.2% |
| Distributable reserves133 | €55,842 | €88,198 | €66,113 | €75,794 | €61,229 | ▼ 19.2% |
| Profit (loss) carried forward14 | - | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €791 | €11,063 | €13,178 | €34,044 | €82,766 | ▲ 143% |
| Amounts payable within one year42/48 | €791 | €11,063 | €13,178 | €34,044 | €82,766 | ▲ 143% |
| Financial debts43 | €239 | €316 | €0 | €1,547 | €1,421 | ▼ 8.2% |
| Credit institutions430/8 | €239 | €316 | €0 | €1,547 | €1,421 | ▼ 8.2% |
| Trade debts44 | €552 | €5,525 | €8,131 | €1,846 | €2,039 | ▲ 10.5% |
| Suppliers440/4 | €552 | €5,525 | €8,131 | €1,846 | €2,039 | ▲ 10.5% |
| Taxes, remuneration and social security45 | - | €3,622 | €5,048 | €1,692 | €8,606 | ▲ 409% |
| Taxes450/3 | - | €3,622 | €5,048 | €1,692 | €8,606 | ▲ 409% |
| Other amounts payable47/48 | - | €1,600 | €0 | €28,959 | €70,700 | ▲ 144% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €55,842 | €33,956 | -€22,085 | €64,446 | €60,435 | ▼ 6.2% |
| + Depreciation and write-downs630 | €1,096 | €2,873 | €4,338 | €4,437 | €4,964 | ▲ 11.9% |
| Operating cash flow (approximation) | €56,938 | €36,829 | -€17,747 | €68,883 | €65,399 | ▼ 5.1% |
| Investment in fixed assets (approximation) | - | -€20,287 | -€1,541 | -€2,398 | -€1,074 | ▲ 55.2% |
| Change in cash | - | €27,343 | -€201 | €32,452 | €19,013 | ▼ 41.4% |
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 (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 23-07-2026 | 2026-00320847 | |
| 31-12-2024 | micro format | 03-07-2025 | 2025-00223180 | |
| 31-12-2023 | micro format | 22-05-2024 | 2024-00092143 | |
| 31-12-2022 | micro format | 12-06-2023 | 2023-00118267 | |
| 31-12-2021 | abbreviated format | 03-06-2022 | 2022-20047466 |