Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 24-07-2026 at the NBB all 14 filings
Equity
€979,251▲ 21.8%
2024 · €804,045
Net result
€175,206▲ 23.2%
2024 · €142,211
Total assets
€1.4m▲ 0.6%
2024 · €1.4m
Solvency
67.6%▲ 11.7pp
2024 · 55.8%
In the rankings
#4 company by total assets in Kapelle-op-den-Bos, Finance and insurance sector#7 oldest company in Kapelle-op-den-Bos, Finance and insurance sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€148,839
▼ 31.2%
2025
20182025
Net result
€175,206
▲ 23.2%
2025
middle half of the sector
20182025
Equity
€979,251
▲ 21.8%
2025
middle half of the sector
20182025
Total assets
€1.4m
▲ 0.6%
2025
middle half of the sector
20182025
Debt
€470,064
▼ 26.1%
2025
20182025
Working capital
-€389,278
▲ 22.7%
2025
lowest quarter of the sector
20182025
Solvency
67.6%
▲ 11.7pp
2025
middle half of the sector
20182025
Current ratio
0.09
▲ 0.05
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
12.1%
▲ 2.2pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.09m-€0.09m▲ 1.6%€0.1m▲ 36.2%€0.1m▲ 5.0%€0.1m▲ 8.5%€0.2m▲ 23.2%€0.2m▲ 25.5%€0.1m▼ 31.2%
Net result€0.04m-€0.05m▲ 3.5%€0.08mwithin the sector's middle half▲ 61.4%€0.08mwithin the sector's middle half▲ 8.4%€0.09mwithin the sector's middle half▲ 11.2%€0.1mwithin the sector's middle half▲ 20.6%€0.1mwithin the sector's middle half▲ 30.3%€0.2mwithin the sector's middle half▲ 23.2%
Equity€0.3m-€0.3m▲ 17.5%€0.4mwithin the sector's middle half▲ 24.5%€0.5mwithin the sector's middle half▲ 21.4%€0.6mwithin the sector's middle half▲ 19.6%€0.7mwithin the sector's middle half▲ 19.7%€0.8mwithin the sector's middle half▲ 21.5%€1.0mwithin the sector's middle half▲ 21.8%
Total assets€1.4m-€1.4m▲ 0.1%€1.5mwithin the sector's middle half▲ 1.8%€1.5mwithin the sector's middle half▲ 2.3%€1.4mwithin the sector's middle half▼ 3.8%€1.4mwithin the sector's middle half▲ 0.1%€1.4mwithin the sector's middle half▲ 0.7%€1.4mwithin the sector's middle half▲ 0.6%
Debt€1.2m-€1.1m▼ 3.8%€1.1m▼ 4.4%€1.0m▼ 4.5%€0.9m▼ 14.4%€0.8m▼ 12.3%€0.6m▼ 17.2%€0.5m▼ 26.1%
Working capital-€0.5m--€0.5m▼ 1.8%-€0.4mbelow the sector's middle half▲ 4.2%-€0.4mbelow the sector's middle half▲ 5.4%-€0.6mbelow the sector's middle half▼ 49.5%-€0.6mbelow the sector's middle half▲ 8.0%-€0.5mbelow the sector's middle half▲ 12.8%-€0.4mbelow the sector's middle half▲ 22.7%
Solvency18.3%-21.4%▲ 3.2pp26.2%within the sector's middle half▲ 4.8pp31.1%within the sector's middle half▲ 4.9pp38.7%within the sector's middle half▲ 7.6pp46.3%within the sector's middle half▲ 7.6pp55.8%within the sector's middle half▲ 9.6pp67.6%within the sector's middle half▲ 11.7pp
Current ratio0.06-0.06=0.11below the sector's middle half▲ 0.050.17below the sector's middle half▲ 0.060.03below the sector's middle half▼ 0.140.04below the sector's middle half▲ 0.010.04below the sector's middle half=0.09below the sector's middle half▲ 0.05
Return on assets (ROA)3.2%-3.3%▲ 0.1pp5.2%within the sector's middle half▲ 1.9pp5.5%within the sector's middle half▲ 0.3pp6.3%within the sector's middle half▲ 0.9pp7.6%within the sector's middle half▲ 1.3pp9.9%within the sector's middle half▲ 2.2pp12.1%within the sector's middle half▲ 2.2pp
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 31% lower than in 2024.
Turnover and EBIT margin are not published. The abbreviated 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 €1.4m
Fixed assets
€1.4m ▼ 0.6%
Current assets
€39,951 ▲ 79.8%
Equity and liabilities €1.4m
Equity
€979,251 ▲ 21.8%
Debt
€470,064 ▼ 26.1%
Debt's share of the balance-sheet total falls from 44.2% to 32.4%. Equity is higher and debt is lower.
Key figures and ratios
ROE
17.9%▲
2024 · 17.7%
Debt ≤ 1 year
€429,228▼
2024 · €525,802
Debt > 1 year
€35,127▼
2024 · €104,680
Income taxes
€46,453▼
2024 · €59,377
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 | - | €9,018 | - | €18,255 | - |
| Depreciation and write-downs of the year | €246 | €674 | €3,006 | €3,538 | €8,663 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €246 | €246 | €246 | €246 | €674 | €3,006 | €3,538 | €8,663 | ▲ 145% |
| Other operating charges640/8 | - | - | - | €1,660 | €1,173 | €1,597 | €1,381 | €1,754 | ▲ 27.0% |
| Gross operating margin9900 | €90,546 | €92,032 | €124,562 | €130,836 | €141,762 | €176,990 | €221,226 | €159,255 | ▼ 28.0% |
| Operating profit (loss)9901 | €88,821 | €90,198 | €122,821 | €128,929 | €139,914 | €172,388 | €216,307 | €148,839 | ▼ 31.2% |
| Financial income75/76B | - | - | - | €1 | - | - | - | €90,400 | - |
| Recurring financial income75 | €0 | €0 | - | €1 | - | - | - | €90,400 | - |
| Financial charges65/66B | - | - | - | €15,627 | €13,252 | €18,349 | €14,720 | €17,580 | ▲ 19.4% |
| Recurring financial charges65 | €27,454 | €25,932 | €17,557 | €15,627 | €13,252 | €18,349 | €14,720 | €17,580 | ▲ 19.4% |
| Profit (loss) for the period before taxes9903 | €61,367 | €64,266 | €105,265 | €113,303 | €126,662 | €154,039 | €201,588 | €221,659 | ▲ 10.0% |
| Income taxes67/77 | €16,452 | €17,767 | €30,203 | €31,949 | €36,204 | €44,939 | €59,377 | €46,453 | ▼ 21.8% |
| Profit (loss) for the period9904 | €44,915 | €46,499 | €75,062 | €81,354 | €90,458 | €109,100 | €142,211 | €175,206 | ▲ 23.2% |
| Profit (loss) for the period to be appropriated9905 | €44,915 | €46,499 | €75,062 | €81,354 | €90,458 | €109,100 | €142,211 | €175,206 | ▲ 23.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.4m | €1.4m | €1.5m | €1.5m | €1.4m | €1.4m | €1.4m | €1.4m | ▲ 0.6% |
| Fixed assets21/28 | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | ▼ 0.6% |
| Tangible fixed assets22/27 | €0.001m | €0.001m | €492 | €246 | €0.009m | €0.006m | €0.02m | €0.01m | ▼ 42.7% |
| Furniture and vehicles24 | - | - | - | €246 | €0.009m | €0.006m | €0.02m | €0.01m | ▼ 42.7% |
| Financial fixed assets28 | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | = |
| Current assets29/58 | €0.03m | €0.03m | €0.05m | €0.09m | €0.02m | €0.03m | €0.02m | €0.04m | ▲ 79.8% |
| Amounts receivable within one year40/41 | €0.02m | €0.02m | €0.05m | €0.08m | €0.01m | €0.02m | €0.02m | €0.03m | ▲ 102% |
| Trade receivables40 | - | - | - | €0.08m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Other amounts receivable41 | - | - | - | - | - | €0.003m | €0.003m | €0.02m | ▲ 574% |
| Cash at bank and in hand54/58 | €0.009m | €0.008m | €0.004m | €0.002m | €0.008m | €0.01m | €0.003m | €0.003m | ▲ 22.8% |
| Deferred charges and accrued income490/1 | - | - | - | - | €152 | €175 | €0.002m | €0.002m | ▼ 23.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.4m | €1.4m | €1.5m | €1.5m | €1.4m | €1.4m | €1.4m | €1.4m | ▲ 0.6% |
| Equity10/15 | €0.3m | €0.3m | €0.4m | €0.5m | €0.6m | €0.7m | €0.8m | €1.0m | ▲ 21.8% |
| Contributions10/11 | €0.006m | €0.006m | €0 | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Reserves13 | €0.3m | €0.3m | €0.4m | €0.5m | €0.5m | €0.7m | €0.8m | €1.0m | ▲ 22.0% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €0.002m | €0 | - | - | - |
| Other1319 | - | - | - | €0.002m | - | - | - | - | - |
| Distributable reserves133 | - | - | - | €0.5m | €0.5m | €0.7m | €0.8m | €1.0m | ▲ 22.0% |
| Amounts payable17/49 | €1.2m | €1.1m | €1.1m | €1.0m | €0.9m | €0.8m | €0.6m | €0.5m | ▼ 26.1% |
| Amounts payable after more than one year17 | €0.7m | €0.6m | €0.6m | €0.5m | €0.2m | €0.2m | €0.1m | €0.04m | ▼ 66.4% |
| Financial debts170/4 | - | - | - | €0.5m | €0.2m | €0.2m | €0.1m | €0.04m | ▼ 66.4% |
| Amounts payable within one year42/48 | €0.5m | €0.5m | €0.5m | €0.5m | €0.7m | €0.6m | €0.5m | €0.4m | ▼ 18.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.06m | €0.06m | €0.06m | €0.07m | €0.07m | ▲ 3.5% |
| Financial debts43 | - | - | - | - | €0.2m | €0.3m | €0.3m | €0.2m | ▼ 8.3% |
| Credit institutions430/8 | - | - | - | - | €0.2m | €0.3m | €0.3m | €0.2m | ▼ 8.3% |
| Trade debts44 | €0.005m | €0.002m | €0.001m | €0.001m | €0.002m | €0.002m | €0.001m | €0.002m | ▲ 54.7% |
| Suppliers440/4 | - | - | - | €0.001m | €0.002m | €0.002m | €0.001m | €0.002m | ▲ 54.7% |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.02m | €0.02m | €0.006m | €0.03m | ▲ 358% |
| Taxes450/3 | - | - | - | €0.02m | €0.02m | €0.01m | €0.006m | €0.03m | ▲ 358% |
| Remuneration and social security454/9 | - | - | - | - | - | €0.002m | €0 | - | - |
| Other amounts payable47/48 | - | - | - | €0.4m | €0.3m | €0.3m | €0.2m | €0.09m | ▼ 52.3% |
| Accrued charges and deferred income492/3 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | ▼ 0.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €44,915 | €46,499 | €75,062 | €81,354 | €90,458 | €109,100 | €142,211 | €175,206 | ▲ 23.2% |
| + Depreciation and write-downs630 | €246 | €246 | €246 | €246 | €674 | €3,006 | €3,538 | €8,663 | ▲ 145% |
| Operating cash flow (approximation) | €45,161 | €46,745 | €75,308 | €81,601 | €91,132 | €112,105 | €145,749 | €183,868 | ▲ 26.2% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€9,018 | €0 | -€18,255 | €0 | - |
| Change in cash | - | -€905 | -€4,114 | -€1,636 | €5,834 | €1,565 | -€6,755 | €649 | - |
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 14 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 24-07-2026 | 2026-00329650 | |
| 31-12-2024 | abbreviated format | 07-07-2025 | 2025-00246010 | |
| 31-12-2023 | abbreviated format | 28-08-2024 | 2024-00419055 | |
| 31-12-2022 | abbreviated format | 31-08-2023 | 2023-00414747 | |
| 31-12-2021 | abbreviated format | 30-08-2022 | 2022-20377581 | |
| 31-12-2020 | abbreviated format | 24-08-2021 | 2021-52500105 | |
| 31-12-2019 | abbreviated format | 02-09-2020 | 2020-50800499 | |
| 31-12-2018 | abbreviated format | 29-08-2019 | 2019-57000329 | |
| 31-12-2017 | abbreviated format | 19-07-2018 | 2018-35800446 | |
| 31-12-2016 | abbreviated format | 13-07-2017 | 2017-31500594 |