Financials · financial year 2025, micro format
Annual accounts 2025 filed on 24-07-2026 at the NBB all 5 filings
Equity
€263,157▲ 11.4%
2024 · €236,177
Net result
€26,980▲ 230%
2024 · €8,174
Total assets
€2.0m▼ 2.1%
2024 · €2.0m
Solvency
13.4%▲ 1.6pp
2024 · 11.7%
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€83,521
▲ 55.8%
2025
20212025
Net result
€26,980
▲ 230%
2025
middle half of the sector
20212025
Equity
€263,157
▲ 11.4%
2025
middle half of the sector
20212025
Total assets
€2.0m
▼ 2.1%
2025
highest quarter of the sector
20212025
Debt
€1.7m
▼ 3.9%
2025
20212025
Working capital
-€462,688
▼ 7.8%
2025
lowest quarter of the sector
20212025
Solvency
13.4%
▲ 1.6pp
2025
lowest quarter of the sector
20212025
Current ratio
0.18
▼ 0.01
2025
lowest quarter of the sector
20212025
Return on assets (ROA)
1.4%
▲ 1.0pp
2025
lowest 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€0.008m--€0.07m€0.4m€0.05m▼ 84.7%€0.08m▲ 55.8%
Net result€0.007mwithin the sector's middle half--€0.09mbelow the sector's middle half€0.3mabove the sector's middle half€0.008mwithin the sector's middle half▼ 97.3%€0.03mwithin the sector's middle half▲ 230%
Equity€0.01mbelow the sector's middle half--€0.08mbelow the sector's middle half€0.2mwithin the sector's middle half€0.2mwithin the sector's middle half▲ 3.6%€0.3mwithin the sector's middle half▲ 11.4%
Total assets€0.1mbelow the sector's middle half-€1.3mwithin the sector's middle half▲ 13×€2.0mabove the sector's middle half▲ 57.2%€2.0mabove the sector's middle half▼ 1.8%€2.0mabove the sector's middle half▼ 2.1%
Debt€0.09m-€1.4m▲ 15×€1.8m▲ 31.8%€1.8m▼ 2.5%€1.7m▼ 3.9%
Working capital€0.01mwithin the sector's middle half--€0.3mbelow the sector's middle half€0.04mwithin the sector's middle half-€0.4mbelow the sector's middle half-€0.5mbelow the sector's middle half▼ 7.8%
Solvency10.6%below the sector's middle half--6.0%below the sector's middle half▼ 16.6pp11.1%below the sector's middle half▲ 17.1pp11.7%below the sector's middle half▲ 0.6pp13.4%below the sector's middle half▲ 1.6pp
Current ratio1.12within the sector's middle half-0.11below the sector's middle half▼ 1.011.06within the sector's middle half▲ 0.950.19below the sector's middle half▼ 0.870.18below the sector's middle half▼ 0.01
Return on assets (ROA)6.7%within the sector's middle half--6.8%below the sector's middle half▼ 13.5pp14.9%within the sector's middle half▲ 21.7pp0.4%below the sector's middle half▼ 14.5pp1.4%below the sector's middle half▲ 1.0pp
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 56% higher than in 2024. It is a recovery after the fall 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 €2.0m
Fixed assets
€1.9m ▼ 2.3%
Current assets
€100,449 ▲ 2.3%
Equity and liabilities €2.0m
Equity
€263,157 ▲ 11.4%
Debt
€1.7m ▼ 3.9%
Debt's share of the balance-sheet total falls from 88.3% to 86.6%. Equity is higher and debt is lower.
Key figures and ratios
ROE
10.3%▲
2024 · 3.5%
Debt ≤ 1 year
€563,137▲
2024 · €527,470
Debt > 1 year
€1.1m▼
2024 · €1.2m
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 | - | €27,500 | - | - | - |
| Mortgages, amount registered | - | €27,500 | €27,500 | - | €50,000 |
| Mortgage mandates | - | €875,000 | €875,000 | - | €1.1m |
| Carrying value of the mortgaged assets | - | €1.3m | - | - | €1.9m |
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 | €0 | €1.3m | €1.5m | €655,908 | €11,234 |
| Intangible fixed assets | €0 | - | - | - | - |
| Financial fixed assets | €0 | - | - | - | - |
| Depreciation and write-downs of the year | - | €15,068 | €1,279 | €45,522 | €55,165 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €443,763 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €15,068 | €1,279 | €45,522 | €55,165 | ▲ 21.2% |
| Other operating charges640/8 | €50 | €23,072 | €23,656 | €835 | €2,237 | ▲ 168% |
| Gross operating margin9900 | €8,532 | -€28,410 | €375,513 | €99,953 | €140,923 | ▲ 41.0% |
| Operating profit (loss)9901 | €8,482 | -€66,549 | €350,579 | €53,595 | €83,521 | ▲ 55.8% |
| Financial income75/76B | - | - | €343 | €0 | €0 | ▼ 100% |
| Recurring financial income75 | - | - | €343 | €0 | €0 | ▼ 100% |
| Financial charges65/66B | €50 | €21,983 | €45,132 | €45,421 | €56,541 | ▲ 24.5% |
| Recurring financial charges65 | €50 | €21,983 | €45,132 | €45,421 | €56,541 | ▲ 24.5% |
| Profit (loss) for the period before taxes9903 | €8,432 | -€88,532 | €305,789 | €8,174 | €26,980 | ▲ 230% |
| Income taxes67/77 | €1,686 | €0 | - | - | - | - |
| Profit (loss) for the period9904 | €6,746 | -€88,532 | €305,789 | €8,174 | €26,980 | ▲ 230% |
| Profit (loss) for the period to be appropriated9905 | €6,746 | -€88,532 | €305,789 | €8,174 | €26,980 | ▲ 230% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €0.1m | €1.3m | €2.0m | €2.0m | €2.0m | ▼ 2.1% |
| Fixed assets21/28 | - | €1.3m | €1.3m | €1.9m | €1.9m | ▼ 2.3% |
| Tangible fixed assets22/27 | - | €1.3m | €1.3m | €1.9m | €1.9m | ▼ 2.3% |
| Land and buildings22 | - | €1.3m | €1.3m | €1.9m | €1.9m | ▼ 2.7% |
| Plant, machinery and equipment23 | - | - | - | €0.003m | €0.003m | ▼ 24.5% |
| Furniture and vehicles24 | - | - | €0.001m | €0.008m | €0.02m | ▲ 101% |
| Current assets29/58 | €0.1m | €0.03m | €0.7m | €0.1m | €0.1m | ▲ 2.3% |
| Amounts receivable within one year40/41 | €0.09m | €0.02m | €0.2m | €0.09m | €0.06m | ▼ 31.8% |
| Trade receivables40 | €0.09m | €0 | €0.005m | €0.09m | €0.06m | ▼ 31.8% |
| Other amounts receivable41 | €0.005m | €0.02m | €0.2m | €5 | €4 | ▼ 20.4% |
| Cash at bank and in hand54/58 | €0.01m | €0.01m | €0.5m | €0.006m | €0.04m | ▲ 545% |
| Deferred charges and accrued income490/1 | - | - | €0.01m | €0 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €0.1m | €1.3m | €2.0m | €2.0m | €2.0m | ▼ 2.1% |
| Equity10/15 | €0.01m | -€0.08m | €0.2m | €0.2m | €0.3m | ▲ 11.4% |
| Contributions10/11 | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | = |
| Reserves13 | - | - | €0.2m | €0.2m | €0.3m | ▲ 11.6% |
| Distributable reserves133 | - | - | €0.2m | €0.2m | €0.3m | ▲ 11.6% |
| Profit (loss) carried forward14 | €0.007m | -€0.08m | €0 | - | - | - |
| Amounts payable17/49 | €0.09m | €1.4m | €1.8m | €1.8m | €1.7m | ▼ 3.9% |
| Amounts payable after more than one year17 | - | €1.1m | €1.1m | €1.2m | €1.1m | ▼ 9.4% |
| Financial debts170/4 | - | €1.1m | €1.1m | €1.2m | €1.1m | ▼ 9.4% |
| Amounts payable within one year42/48 | €0.09m | €0.3m | €0.7m | €0.5m | €0.6m | ▲ 6.8% |
| Current portion of amounts payable after more than one year42 | - | €0.09m | €0.1m | €0.1m | €0.1m | ▲ 0.8% |
| Financial debts43 | - | - | €0.1m | €0 | - | - |
| Other loans439 | - | - | €0.1m | €0 | - | - |
| Trade debts44 | €0.09m | €0.2m | €0.02m | €108 | €124 | ▲ 15.4% |
| Suppliers440/4 | €0.09m | €0.2m | €0.02m | €108 | €124 | ▲ 15.4% |
| Taxes, remuneration and social security45 | €0.004m | €0.002m | €0.4m | €0.006m | €0.01m | ▲ 113% |
| Taxes450/3 | €0.004m | €0.002m | €0.4m | €0.006m | €0.01m | ▲ 113% |
| Other amounts payable47/48 | - | €0.01m | €0.05m | €0.4m | €0.4m | ▲ 6.9% |
| Accrued charges and deferred income492/3 | - | €0.007m | €0.002m | €0.004m | €0.02m | ▲ 331% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,746 | -€88,532 | €305,789 | €8,174 | €26,980 | ▲ 230% |
| + Depreciation and write-downs630 | - | €15,068 | €1,279 | €45,522 | €55,165 | ▲ 21.2% |
| Operating cash flow (approximation) | €6,746 | -€73,465 | €307,068 | €53,696 | €82,146 | ▲ 53.0% |
| Investment in fixed assets (approximation) | - | - | -€33,269 | -€655,908 | -€11,234 | ▲ 98.3% |
| Change in cash | - | €2,751 | €478,567 | -€486,253 | €31,653 | - |
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 | 24-07-2026 | 2026-00327240 | |
| 31-12-2024 | micro format | 06-08-2025 | 2025-00363207 | |
| 31-12-2023 | micro format | 29-08-2024 | 2024-00393758 | |
| 31-12-2022 | abbreviated format | 28-08-2023 | 2023-00358950 | |
| 31-12-2021 | micro format | 25-08-2022 | 2022-20316070 |