Financials · financial year 2025, abbreviated format
2025 annual accounts filed 45 days after the deadline Filed on 14 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00512154.
Annual accounts 2025 filed on 14-09-2026 at the NBB all 29 filings
Equity
€1.1m▲ 6.0%
2024 · €1.1m
Net result
€63,760▲ 36.9%
2024 · €46,589
Total assets
€1.2m▲ 5.6%
2024 · €1.1m
Solvency
94.2%▲ 0.4pp
2024 · 93.8%
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€78,272
▲ 18.7%
2025
20182025
Net result
€63,760
▲ 36.9%
2025
middle half of the sector
20182025
Equity
€1.1m
▲ 6.0%
2025
highest quarter of the sector
20182025
Total assets
€1.2m
▲ 5.6%
2025
middle half of the sector
20182025
Debt
€69,585
▼ 0.7%
2025
20182025
Working capital
€1.0m
▼ 0.9%
2025
highest quarter of the sector
20182025
Solvency
94.2%
▲ 0.4pp
2025
highest quarter of the sector
20182025
Current ratio
15.41
▼ 0.03
2025
highest quarter of the sector
20182025
Return on assets (ROA)
5.3%
▲ 1.2pp
2025
middle half of the sector
20182025
Staff (FTE)
3.5
▲ 34.6%
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€0.1m-€0.1m▲ 3.8%€0.2m▲ 26.3%€0.08m▼ 54.0%€0.08m▲ 3.5%€0.06m▼ 18.5%€0.07m▲ 1.7%€0.08m▲ 18.7%
Net result€0.09m-€0.09m▼ 1.8%€0.1mwithin the sector's middle half▲ 34.4%€0.06mwithin the sector's middle half▼ 50.6%€0.06mwithin the sector's middle half▲ 4.7%€0.05mwithin the sector's middle half▼ 20.0%€0.05mwithin the sector's middle half▼ 5.5%€0.06mwithin the sector's middle half▲ 36.9%
Equity€0.6m-€0.7m▲ 13.7%€0.9mabove the sector's middle half▲ 16.2%€0.9mabove the sector's middle half▲ 6.9%€1.0mabove the sector's middle half▲ 6.8%€1.0mabove the sector's middle half▲ 5.1%€1.1mabove the sector's middle half▲ 4.6%€1.1mabove the sector's middle half▲ 6.0%
Total assets€0.7m-€0.9m▲ 18.8%€1.0mwithin the sector's middle half▲ 13.8%€1.0mwithin the sector's middle half▲ 0.4%€1.1mwithin the sector's middle half▲ 10.2%€1.1mwithin the sector's middle half▼ 4.0%€1.1mwithin the sector's middle half▲ 6.0%€1.2mwithin the sector's middle half▲ 5.6%
Debt€0.1m-€0.2m▲ 50.2%€0.2m▲ 2.2%€0.1m▼ 34.6%€0.1m▲ 40.3%€0.05m▼ 64.5%€0.07m▲ 35.4%€0.07m▼ 0.7%
Working capital€0.7m-€0.8m▲ 13.5%€0.9mabove the sector's middle half▲ 16.3%€0.9mabove the sector's middle half▲ 7.2%€0.9mabove the sector's middle half▼ 4.6%€1.0mabove the sector's middle half▲ 6.9%€1.0mabove the sector's middle half▲ 5.3%€1.0mabove the sector's middle half▼ 0.9%
Solvency86.2%-82.5%▼ 3.7pp84.3%above the sector's middle half▲ 1.8pp89.8%above the sector's middle half▲ 5.5pp87.0%above the sector's middle half▼ 2.8pp95.2%above the sector's middle half▲ 8.2pp93.8%above the sector's middle half▼ 1.3pp94.2%above the sector's middle half▲ 0.4pp
Current ratio12.89-8.00▼ 4.898.89above the sector's middle half▲ 0.8917.70above the sector's middle half▲ 8.817.20above the sector's middle half▼ 10.5019.56above the sector's middle half▲ 12.3515.44above the sector's middle half▼ 4.1115.41above the sector's middle half▼ 0.03
Return on assets (ROA)12.1%-10.0%▼ 2.1pp11.8%within the sector's middle half▲ 1.8pp5.8%within the sector's middle half▼ 6.0pp5.5%within the sector's middle half▼ 0.3pp4.6%within the sector's middle half▼ 0.9pp4.1%within the sector's middle half▼ 0.5pp5.3%within the sector's middle half▲ 1.2pp
Staff (FTE)3.3-3.8▲ 15.2%3.4within the sector's middle half▼ 10.5%3.2within the sector's middle half▼ 5.9%2.6within the sector's middle half▼ 18.8%2.6within the sector's middle half=2.6within the sector's middle half=3.5within the sector's middle half▲ 34.6%
above
within
below
The sector band is the middle half of the companies in Activities auxiliary to financial services and insurance activities (NACE 66). 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 19% higher than in 2024. It is the second rise in a row, after the fall in 2023.
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 €1.2m
Fixed assets
€129,690 ▲ 130%
Current assets
€1.1m ▼ 0.9%
Equity and liabilities €1.2m
Equity
€1.1m ▲ 6.0%
Debt
€69,585 ▼ 0.7%
Debt's share of the balance-sheet total falls from 6.2% to 5.8%. Equity is higher and debt is lower.
Key figures and ratios
ROE
5.6%▲
2024 · 4.4%
Debt ≤ 1 year
€69,585▼
2024 · €70,103
Income taxes
€29,247▲
2024 · €19,651
Staff costs
€199,529▲
2024 · €181,770
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 3 | 3 | 3 | 3 | 4 |
| full-time | 1 | 1 | 1 | 1 | 2 |
| part-time | 2 | 2 | 2 | 2 | 2 |
| in full-time equivalents | 2.6 | 2.6 | 2.6 | 2.6 | 3.6 |
| Average over the year, in full-time equivalents | 3.2 | 2.6 | 2.6 | 2.6 | 3.5 |
| On a permanent contract | 3 | 3 | 3 | 3 | 4 |
| Joined | 0 | - | - | - | 1 |
| Left | 1 | - | - | - | 0 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €65,125 | - | €99,389 | €107,900 |
| Financial fixed assets | - | €309 | - | - | - |
| Depreciation and write-downs of the year | €4,247 | €3,445 | €13,755 | €17,240 | €34,653 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2024 · 1 entry · €75 awarded · €75 paidAnnual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €184,378 | €160,332 | €176,892 | €181,770 | €199,529 | ▲ 9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29,247 | €4,561 | €4,404 | €4,247 | €3,445 | €13,755 | €17,240 | €34,653 | ▲ 101% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | €9,062 | - | - | - |
| Other operating charges640/8 | - | - | - | €1,568 | €1,097 | €1,474 | €1,868 | €2,159 | ▲ 15.6% |
| Non-recurring operating charges66A | - | - | - | - | €6,369 | - | €11,895 | - | - |
| Gross operating margin9900 | €312,347 | €334,622 | €351,114 | €266,995 | €250,769 | €266,004 | €278,719 | €314,614 | ▲ 12.9% |
| Operating profit (loss)9901 | €127,407 | €132,287 | €167,091 | €76,803 | €79,526 | €64,821 | €65,946 | €78,272 | ▲ 18.7% |
| Financial income75/76B | - | - | - | €3,649 | €4,324 | €6,528 | €7,407 | €16,055 | ▲ 117% |
| Recurring financial income75 | €8,331 | €4,749 | €4,356 | €3,649 | €4,324 | €6,528 | €7,407 | €16,055 | ▲ 117% |
| Financial charges65/66B | - | - | - | €3,835 | €1,971 | €2,794 | €7,113 | €1,319 | ▼ 81.5% |
| Recurring financial charges65 | €4,604 | €4,814 | €10,822 | €3,835 | €1,971 | €2,794 | €7,113 | €1,319 | ▼ 81.5% |
| Profit (loss) for the period before taxes9903 | €131,134 | €132,222 | €160,625 | €76,617 | €81,879 | €68,555 | €66,240 | €93,007 | ▲ 40.4% |
| Income taxes67/77 | €40,868 | €43,616 | €41,526 | €17,819 | €20,310 | €19,279 | €19,651 | €29,247 | ▲ 48.8% |
| Profit (loss) for the period9904 | €90,266 | €88,606 | €119,099 | €58,799 | €61,569 | €49,276 | €46,589 | €63,760 | ▲ 36.9% |
| Profit (loss) for the period to be appropriated9905 | €85,917 | €82,841 | €119,099 | €58,799 | €61,569 | €49,276 | €46,589 | €63,760 | ▲ 36.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.7m | €0.9m | €1.0m | €1.0m | €1.1m | €1.1m | €1.1m | €1.2m | ▲ 5.6% |
| Fixed assets21/28 | €0.03m | €0.03m | €0.02m | €0.02m | €0.07m | €0.06m | €0.06m | €0.1m | ▲ 130% |
| Intangible fixed assets21 | - | €0 | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €0.01m | €0.01m | €0.006m | €0.002m | €0.06m | €0.05m | €0.04m | €0.1m | ▲ 163% |
| Plant, machinery and equipment23 | - | - | - | €456 | €24 | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €0.001m | €0.04m | €0.03m | €0.02m | €0.1m | ▲ 384% |
| Other tangible fixed assets26 | - | - | - | - | €0.03m | €0.02m | €0.02m | €0.02m | ▼ 30.8% |
| Financial fixed assets28 | €0.02m | €0.02m | €0.02m | €0.02m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Current assets29/58 | €0.7m | €0.9m | €1.0m | €1.0m | €1.0m | €1.0m | €1.1m | €1.1m | ▼ 0.9% |
| Amounts receivable within one year40/41 | €0.2m | €0.3m | €0.3m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 6.4% |
| Trade receivables40 | - | - | - | €0.05m | €0.05m | €0.05m | €0.05m | €0.04m | ▼ 20.1% |
| Other amounts receivable41 | - | - | - | €0.09m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Cash at bank and in hand54/58 | €0.4m | €0.4m | €0.7m | €0.9m | €0.9m | €0.9m | €0.9m | €0.9m | ▲ 8.6% |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €0.001m | €0.001m | €0.08m | €0.001m | ▼ 98.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.7m | €0.9m | €1.0m | €1.0m | €1.1m | €1.1m | €1.1m | €1.2m | ▲ 5.6% |
| Equity10/15 | €0.6m | €0.7m | €0.9m | €0.9m | €1.0m | €1.0m | €1.1m | €1.1m | ▲ 6.0% |
| Contributions10/11 | €0.02m | €0.02m | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.08m | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | = |
| Non-distributable reserves130/1 | - | - | - | €0.02m | €0.02m | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.02m | €0.02m | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €0.07m | €0.07m | €0.07m | €0.07m | €0.07m | = |
| Distributable reserves133 | - | - | - | - | - | €0.02m | €0.02m | €0.02m | = |
| Profit (loss) carried forward14 | €0.5m | €0.6m | €0.7m | €0.8m | €0.9m | €0.9m | €1.0m | €1.0m | ▲ 6.6% |
| Amounts payable17/49 | €0.1m | €0.2m | €0.2m | €0.1m | €0.1m | €0.05m | €0.07m | €0.07m | ▼ 0.7% |
| Amounts payable after more than one year17 | €0.04m | €0.04m | €0.04m | €0.04m | - | - | - | - | - |
| Financial debts170/4 | - | - | - | €0.04m | - | - | - | - | - |
| Amounts payable within one year42/48 | €0.06m | €0.1m | €0.1m | €0.06m | €0.1m | €0.05m | €0.07m | €0.07m | ▼ 0.7% |
| Trade debts44 | €0.01m | €0.009m | €0.006m | €0.001m | €0.08m | €0.006m | €0.02m | €0.008m | ▼ 67.1% |
| Suppliers440/4 | - | - | - | €0.001m | €0.08m | €0.006m | €0.02m | €0.008m | ▼ 67.1% |
| Taxes, remuneration and social security45 | - | - | - | €0.04m | €0.04m | €0.04m | €0.04m | €0.06m | ▲ 31.3% |
| Taxes450/3 | - | - | - | €0.006m | €0.006m | €0.006m | €0.007m | €0.01m | ▲ 110% |
| Remuneration and social security454/9 | - | - | - | €0.03m | €0.04m | €0.04m | €0.04m | €0.04m | ▲ 17.5% |
| Other amounts payable47/48 | - | - | - | €0.02m | €0.02m | €0.001m | €0.002m | €0.003m | ▲ 131% |
| Accrued charges and deferred income492/3 | - | - | - | €0.004m | €0.001m | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €90,266 | €88,606 | €119,099 | €58,799 | €61,569 | €49,276 | €46,589 | €63,760 | ▲ 36.9% |
| + Depreciation and write-downs630 | €29,247 | €4,561 | €4,404 | €4,247 | €3,445 | €13,755 | €17,240 | €34,653 | ▲ 101% |
| Operating cash flow (approximation) | €119,513 | €93,167 | €123,503 | €63,045 | €65,014 | €63,031 | €63,829 | €98,413 | ▲ 54.2% |
| Investment in fixed assets (approximation) | - | -€3,529 | €0 | €0 | -€61,440 | €0 | -€12,439 | -€107,900 | ▼ 767% |
| Change in cash | - | -€29,756 | €297,986 | €147,670 | €33,918 | -€32,273 | €845 | €74,329 | ▲ 88× |
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 29 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 14-09-2026 | 2026-00512154 | |
| 31-12-2024 | abbreviated format | 27-08-2025 | 2025-00411916 | |
| 31-12-2023 | abbreviated format | 30-08-2024 | 2024-00428675 | |
| 31-12-2022 | abbreviated format | 29-09-2023 | 2023-00464030 | |
| 31-12-2021 | abbreviated format | 12-10-2022 | 2022-20457947 | |
| 31-12-2020 | abbreviated format | 28-10-2021 | 2021-74300132 | |
| 31-12-2019 | abbreviated format | 07-10-2020 | 2020-59700164 | |
| 31-12-2018 | abbreviated format | 24-09-2019 | 2019-65700200 | |
| 31-12-2017 | abbreviated format | 24-09-2018 | 2018-64000548 | |
| 31-12-2016 | abbreviated format | 30-08-2017 | 2017-53500568 |