Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 31-07-2026 at the NBB all 15 filings
Equity
€602,494▼ 45.5%
2024 · €1.1m
Net result
€292,849
2024 · -€94,710
Total assets
€610,977▼ 45.3%
2024 · €1.1m
Solvency
98.6%▼ 0.5pp
2024 · 99.1%
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€4,444
▲ 95.7%
2025
20182025
Net result
€292,849
2025
highest quarter of the sector
20182025
Equity
€602,494
▼ 45.5%
2025
middle half of the sector
20182025
Total assets
€610,977
▼ 45.3%
2025
middle half of the sector
20182025
Debt
€8,482
▼ 18.4%
2025
20182025
Working capital
€443,508
▼ 51.9%
2025
highest quarter of the sector
20182025
Solvency
98.6%
▼ 0.5pp
2025
highest quarter of the sector
20182025
Current ratio
53.29
▼ 36.38
2025
highest quarter of the sector
20182025
Return on assets (ROA)
47.9%
▲ 56.4pp
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.3m-€0.5m▲ 53.4%€0.7m▲ 51.4%€0.03m▼ 96.1%€0.06m▲ 135%€0.2m▲ 171%-€0.1m-€0.004m▲ 95.7%
Net result€0.2m-€0.3m▲ 39.0%€0.5mabove the sector's middle half▲ 49.1%€0.03mwithin the sector's middle half▼ 93.9%€0.06mwithin the sector's middle half▲ 110%€0.2mabove the sector's middle half▲ 264%-€0.09mbelow the sector's middle half€0.3mabove the sector's middle half
Equity€0.9m-€1.2m▲ 32.9%€1.5mwithin the sector's middle half▲ 23.1%€1.5mwithin the sector's middle half▲ 0.4%€1.6mwithin the sector's middle half▲ 3.9%€1.4mwithin the sector's middle half▼ 15.6%€1.1mwithin the sector's middle half▼ 18.0%€0.6mwithin the sector's middle half▼ 45.5%
Total assets€1.1m-€1.4m▲ 29.9%€1.8mwithin the sector's middle half▲ 26.9%€1.8mwithin the sector's middle half▲ 0.5%€1.7mwithin the sector's middle half▼ 1.4%€1.4mwithin the sector's middle half▼ 21.1%€1.1mwithin the sector's middle half▼ 18.8%€0.6mwithin the sector's middle half▼ 45.3%
Debt€0.1m-€0.1m▲ 8.0%€0.2m▲ 59.9%€0.2m▲ 0.9%€0.1m▼ 37.1%€0.03m▼ 82.1%€0.01m▼ 59.5%€0.008m▼ 18.4%
Working capital€0.8m-€1.1m▲ 37.9%€1.4mabove the sector's middle half▲ 22.2%€1.4mabove the sector's middle half▲ 1.3%€1.4mabove the sector's middle half▲ 3.2%€1.2mabove the sector's middle half▼ 17.0%€0.9mabove the sector's middle half▼ 23.4%€0.4mabove the sector's middle half▼ 51.9%
Solvency87.7%-89.8%▲ 2.1pp87.1%above the sector's middle half▼ 2.7pp87.1%above the sector's middle half▼ 0.1pp91.8%above the sector's middle half▲ 4.7pp98.1%above the sector's middle half▲ 6.4pp99.1%above the sector's middle half▲ 0.9pp98.6%above the sector's middle half▼ 0.5pp
Current ratio7.28-9.02▲ 1.747.13above the sector's middle half▼ 1.897.18above the sector's middle half▲ 0.0511.53above the sector's middle half▲ 4.3547.81above the sector's middle half▲ 36.2889.67above the sector's middle half▲ 41.8653.29above the sector's middle half▼ 36.38
Return on assets (ROA)20.8%-22.2%▲ 1.5pp26.1%above the sector's middle half▲ 3.9pp1.6%within the sector's middle half▼ 24.5pp3.4%within the sector's middle half▲ 1.8pp15.7%above the sector's middle half▲ 12.3pp-8.5%below the sector's middle half▼ 24.2pp47.9%above the sector's middle half▲ 56.4pp
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 a loss of €4,444, smaller than the loss of €103,844 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 €610,977
Fixed assets
€158,986 ▼ 13.9%
Current assets
€451,990 ▼ 51.5%
Equity and liabilities €610,977
Equity
€602,494 ▼ 45.5%
Debt
€8,482 ▼ 18.4%
Debt's share of the balance-sheet total rises from 0.9% to 1.4%. Equity and debt are lower.
Key figures and ratios
ROE
48.6%▲
2024 · -8.6%
Debt ≤ 1 year
€8,482▼
2024 · €10,396
Income taxes
€1,457▲
2024 · €1,211
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 | €1,061 | €31,384 | €7,134 | €71,277 | €2,747 |
| Depreciation and write-downs of the year | €11,150 | €11,570 | €15,760 | €28,161 | €28,418 |
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 | €4,404 | €4,402 | €5,945 | €11,150 | €11,570 | €15,760 | €28,161 | €28,418 | ▲ 0.9% |
| Other operating charges640/8 | - | - | - | €1,933 | €2,069 | €2,017 | €2,255 | €2,530 | ▲ 12.2% |
| Gross operating margin9900 | €308,016 | €469,090 | €708,863 | €40,346 | €77,576 | €191,306 | -€73,428 | €26,504 | - |
| Operating profit (loss)9901 | €301,853 | €462,912 | €701,053 | €27,263 | €63,937 | €173,529 | -€103,844 | -€4,444 | ▲ 95.7% |
| Financial income75/76B | - | - | - | €17,252 | €19,042 | €142,354 | €11,529 | €354,891 | ▲ 31× |
| Recurring financial income75 | €7,531 | €28,541 | €26,796 | €17,252 | €19,042 | €142,354 | €11,529 | €354,891 | ▲ 31× |
| Financial charges65/66B | - | - | - | €3,435 | €2,678 | €11,858 | €1,184 | €56,140 | ▲ 47× |
| Recurring financial charges65 | €1,873 | €17,735 | €61,134 | €3,435 | €2,678 | €11,858 | €1,184 | €56,140 | ▲ 47× |
| Profit (loss) for the period before taxes9903 | €307,511 | €473,718 | €666,715 | €41,080 | €80,301 | €304,025 | -€93,499 | €294,307 | - |
| Income taxes67/77 | €85,537 | €165,209 | €206,632 | €12,810 | €20,838 | €87,360 | €1,211 | €1,457 | ▲ 20.4% |
| Profit (loss) for the period9904 | €221,974 | €308,509 | €460,083 | €28,270 | €59,463 | €216,665 | -€94,710 | €292,849 | - |
| Profit (loss) for the period to be appropriated9905 | €221,974 | €308,509 | €460,083 | €28,270 | €59,463 | €216,665 | -€94,710 | €292,849 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.1m | €1.4m | €1.8m | €1.8m | €1.7m | €1.4m | €1.1m | €0.6m | ▼ 45.3% |
| Fixed assets21/28 | €0.1m | €0.1m | €0.1m | €0.1m | €0.2m | €0.1m | €0.2m | €0.2m | ▼ 13.9% |
| Tangible fixed assets22/27 | €0.01m | €0.008m | €0.04m | €0.03m | €0.05m | €0.04m | €0.09m | €0.06m | ▼ 29.2% |
| Furniture and vehicles24 | - | - | - | €0.03m | €0.05m | €0.04m | €0.09m | €0.06m | ▼ 29.2% |
| Financial fixed assets28 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Current assets29/58 | €1.0m | €1.3m | €1.6m | €1.6m | €1.6m | €1.2m | €0.9m | €0.5m | ▼ 51.5% |
| Amounts receivable after more than one year29 | - | - | - | €0.6m | €0.6m | €0.2m | €0.2m | - | - |
| Trade receivables290 | - | - | - | - | - | €0.2m | €0.2m | - | - |
| Other amounts receivable291 | - | - | - | €0.6m | €0.6m | - | - | - | - |
| Amounts receivable within one year40/41 | €0.3m | €0.7m | €0.3m | €0.07m | €0.06m | €0.09m | €0.07m | €0.1m | ▲ 50.1% |
| Trade receivables40 | - | - | - | €0.06m | €0.02m | €0.09m | €0.02m | - | - |
| Other amounts receivable41 | - | - | - | €0.001m | €0.04m | €0.001m | €0.05m | €0.1m | ▲ 107% |
| Current investments50/53 | €0.5m | €0.6m | €0.7m | €0.7m | €0.7m | €0.8m | €0.7m | €0.3m | ▼ 55.1% |
| Cash at bank and in hand54/58 | €0.1m | €0.03m | €0.02m | €0.2m | €0.2m | €0.1m | €0.008m | €0.06m | ▲ 656% |
| Deferred charges and accrued income490/1 | - | - | - | €0.006m | - | €0.006m | €0.001m | €0.001m | ▲ 5.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.1m | €1.4m | €1.8m | €1.8m | €1.7m | €1.4m | €1.1m | €0.6m | ▼ 45.3% |
| Equity10/15 | €0.9m | €1.2m | €1.5m | €1.5m | €1.6m | €1.4m | €1.1m | €0.6m | ▼ 45.5% |
| Contributions10/11 | €0.04m | €0.04m | - | €0.04m | €0.04m | €0.04m | €0.04m | €0.04m | = |
| Reserves13 | €0.9m | €1.2m | €1.5m | €1.5m | €1.6m | €1.3m | €1.2m | €0.6m | ▼ 51.5% |
| Non-distributable reserves130/1 | - | - | - | €0.004m | €0.004m | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.004m | €0.004m | - | - | - | - |
| Distributable reserves133 | - | - | - | €1.5m | €1.6m | €1.3m | €1.2m | €0.6m | ▼ 51.5% |
| Profit (loss) carried forward14 | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | €0.004m | -€0.09m | €0.001m | - |
| Amounts payable17/49 | €0.1m | €0.1m | €0.2m | €0.2m | €0.1m | €0.03m | €0.01m | €0.008m | ▼ 18.4% |
| Amounts payable within one year42/48 | €0.1m | €0.1m | €0.2m | €0.2m | €0.1m | €0.03m | €0.01m | €0.008m | ▼ 18.4% |
| Financial debts43 | - | - | - | €0.1m | €0.1m | - | - | - | - |
| Credit institutions430/8 | - | - | - | €0.1m | €0.1m | - | - | - | - |
| Trade debts44 | €0.05m | €0.07m | €0.1m | €0.09m | €0.002m | €499 | €0.007m | €0.008m | ▲ 20.3% |
| Suppliers440/4 | - | - | - | €0.09m | €0.002m | €499 | €0.007m | €0.008m | ▲ 20.3% |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.01m | €0.03m | €0.003m | - | - |
| Taxes450/3 | - | - | - | €0.02m | €0.01m | €0.03m | €0.003m | - | - |
| Other amounts payable47/48 | - | - | - | €1 | - | €79 | €0.001m | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.001m | €0.006m | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €221,974 | €308,509 | €460,083 | €28,270 | €59,463 | €216,665 | -€94,710 | €292,849 | - |
| + Depreciation and write-downs630 | €4,404 | €4,402 | €5,945 | €11,150 | €11,570 | €15,760 | €28,161 | €28,418 | ▲ 0.9% |
| Operating cash flow (approximation) | €226,378 | €312,911 | €466,028 | €39,420 | €71,033 | €232,425 | -€66,549 | €321,267 | - |
| Investment in fixed assets (approximation) | - | -€1,000 | -€41,686 | -€1,061 | -€31,384 | -€7,134 | -€65,437 | -€2,747 | ▲ 95.8% |
| Change in cash | - | -€101,315 | -€11,608 | €216,773 | -€87,225 | -€14,784 | -€129,517 | €50,339 | - |
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 15 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 31-07-2026 | 2026-00375987 | |
| 31-12-2024 | abbreviated format | 03-06-2025 | 2025-00118749 | |
| 31-12-2023 | abbreviated format | 13-06-2024 | 2024-00127899 | |
| 31-12-2022 | abbreviated format | 11-05-2023 | 2023-00085316 | |
| 31-12-2021 | abbreviated format | 29-08-2022 | 2022-20336650 | |
| 31-12-2020 | abbreviated format | 25-06-2021 | 2021-25200541 | |
| 31-12-2019 | abbreviated format | 19-06-2020 | 2020-18800067 | |
| 31-12-2018 | abbreviated format | 18-07-2019 | 2019-34700448 | |
| 31-12-2017 | abbreviated format | 30-08-2018 | 2018-54400426 | |
| 31-12-2016 | abbreviated format | 10-08-2017 | 2017-42900364 |