Financials · financial year 2025, micro format
Annual accounts 2025 filed on 29-07-2026 at the NBB all 4 filings
Equity
€88,218▲ 43.3%
2024 · €61,562
Net result
€26,655▼ 16.3%
2024 · €31,860
Total assets
€534,270▲ 2.7%
2024 · €520,332
Solvency
16.5%▲ 4.7pp
2024 · 11.8%
Multi-year overview
2022 to 2025, 4 financial yearsOperating result
€39,658
▼ 9.9%
2025
20222025
Net result
€26,655
▼ 16.3%
2025
middle half of the sector
20222025
Equity
€88,218
▲ 43.3%
2025
middle half of the sector
20222025
Total assets
€534,270
▲ 2.7%
2025
middle half of the sector
20222025
Debt
€446,052
▼ 2.8%
2025
20222025
Working capital
€40,742
▲ 23.0%
2025
middle half of the sector
20222025
Solvency
16.5%
▲ 4.7pp
2025
lowest quarter of the sector
20222025
Current ratio
1.94
▲ 0.05
2025
middle half of the sector
20222025
Return on assets (ROA)
5.0%
▼ 1.1pp
2025
middle half of the sector
20222025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Operating result€2,216-€25,138▲ 11×€43,995▲ 75.0%€39,658▼ 9.9%
Net result€975below the sector's middle half-€18,727within the sector's middle half▲ 19×€31,860within the sector's middle half▲ 70.1%€26,655within the sector's middle half▼ 16.3%
Equity€10,975below the sector's middle half-€29,703below the sector's middle half▲ 171%€61,562within the sector's middle half▲ 107%€88,218within the sector's middle half▲ 43.3%
Total assets€528,980within the sector's middle half-€514,468within the sector's middle half▼ 2.7%€520,332within the sector's middle half▲ 1.1%€534,270within the sector's middle half▲ 2.7%
Debt€518,004-€484,765▼ 6.4%€458,769▼ 5.4%€446,052▼ 2.8%
Working capital€44,464within the sector's middle half-€28,310within the sector's middle half▼ 36.3%€33,128within the sector's middle half▲ 17.0%€40,742within the sector's middle half▲ 23.0%
Solvency2.1%below the sector's middle half-5.8%below the sector's middle half▲ 3.7pp11.8%below the sector's middle half▲ 6.1pp16.5%below the sector's middle half▲ 4.7pp
Current ratio2.29within the sector's middle half-1.78within the sector's middle half▼ 0.511.89within the sector's middle half▲ 0.111.94within the sector's middle half▲ 0.05
Return on assets (ROA)0.2%below the sector's middle half-3.6%within the sector's middle half▲ 3.5pp6.1%within the sector's middle half▲ 2.5pp5.0%within the sector's middle half▼ 1.1pp
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 10% 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 €534,270
Fixed assets
€450,000 =
Current assets
€84,270 ▲ 19.8%
Equity and liabilities €534,270
Equity
€88,218 ▲ 43.3%
Debt
€446,052 ▼ 2.8%
Debt's share of the balance-sheet total falls from 88.2% to 83.5%. Equity is higher and debt is lower.
Key figures and ratios
ROE
30.2%▼
2024 · 51.8%
Debt ≤ 1 year
€43,528▲
2024 · €37,204
Debt > 1 year
€398,166▼
2024 · €419,183
Income taxes
€8,913▼
2024 · €11,058
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Financial fixed assets | €450,000 | - | - | - |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Other operating charges640/8 | €757 | €446 | - | €917 | - |
| Gross operating margin9900 | €2,973 | €25,584 | €43,995 | €40,575 | ▼ 7.8% |
| Operating profit (loss)9901 | €2,216 | €25,138 | €43,995 | €39,658 | ▼ 9.9% |
| Financial income75/76B | - | €760 | €1,600 | €451 | ▼ 71.8% |
| Recurring financial income75 | - | €760 | €1,600 | €451 | ▼ 71.8% |
| Financial charges65/66B | €889 | €799 | €2,677 | €4,540 | ▲ 69.6% |
| Recurring financial charges65 | €889 | €799 | €2,677 | €4,540 | ▲ 69.6% |
| Profit (loss) for the period before taxes9903 | €1,327 | €25,098 | €42,918 | €35,568 | ▼ 17.1% |
| Income taxes67/77 | €352 | €6,370 | €11,058 | €8,913 | ▼ 19.4% |
| Profit (loss) for the period9904 | €975 | €18,727 | €31,860 | €26,655 | ▼ 16.3% |
| Profit (loss) for the period to be appropriated9905 | €975 | €18,727 | €31,860 | €26,655 | ▼ 16.3% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €528,980 | €514,468 | €520,332 | €534,270 | ▲ 2.7% |
| Fixed assets21/28 | €450,000 | €450,000 | €450,000 | €450,000 | = |
| Financial fixed assets28 | €450,000 | €450,000 | €450,000 | €450,000 | = |
| Current assets29/58 | €78,980 | €64,468 | €70,332 | €84,270 | ▲ 19.8% |
| Amounts receivable within one year40/41 | €24,085 | €3,574 | €29,641 | €48,884 | ▲ 64.9% |
| Trade receivables40 | €5,680 | - | €7,000 | €17,000 | ▲ 143% |
| Other amounts receivable41 | €18,405 | €3,574 | €22,641 | €31,884 | ▲ 40.8% |
| Current investments50/53 | - | €50,000 | €35,000 | - | - |
| Cash at bank and in hand54/58 | €54,895 | €10,894 | €5,691 | €35,386 | ▲ 522% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €528,980 | €514,468 | €520,332 | €534,270 | ▲ 2.7% |
| Equity10/15 | €10,975 | €29,703 | €61,562 | €88,218 | ▲ 43.3% |
| Contributions10/11 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Reserves13 | €975 | €19,703 | €51,562 | €78,218 | ▲ 51.7% |
| Distributable reserves133 | €975 | €19,703 | €51,562 | €78,218 | ▲ 51.7% |
| Amounts payable17/49 | €518,004 | €484,765 | €458,769 | €446,052 | ▼ 2.8% |
| Amounts payable after more than one year17 | €483,082 | €447,982 | €419,183 | €398,166 | ▼ 5.0% |
| Financial debts170/4 | €483,082 | €447,982 | €419,183 | €398,166 | ▼ 5.0% |
| Amounts payable within one year42/48 | €34,516 | €36,158 | €37,204 | €43,528 | ▲ 17.0% |
| Trade debts44 | €348 | - | €1,424 | €2,703 | ▲ 89.9% |
| Suppliers440/4 | €348 | - | €1,424 | €2,703 | ▲ 89.9% |
| Taxes, remuneration and social security45 | €4,168 | €6,158 | €4,431 | €10,490 | ▲ 137% |
| Taxes450/3 | €4,168 | €6,158 | €4,431 | €10,490 | ▲ 137% |
| Other amounts payable47/48 | €30,000 | €30,000 | €31,350 | €30,335 | ▼ 3.2% |
| Accrued charges and deferred income492/3 | €407 | €626 | €2,382 | €4,359 | ▲ 83.0% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €975 | €18,727 | €31,860 | €26,655 | ▼ 16.3% |
| Operating cash flow (approximation) | €975 | €18,727 | €31,860 | €26,655 | ▼ 16.3% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | - |
| Change in cash | - | -€44,000 | -€5,204 | €29,695 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.