Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 31-01-2026 PDF all 10 filings
Equity
€259,389▲ 3.5%
2024 · €250,634
Net result
€8,755▲ 98.8%
2024 · €4,403
Total assets
€530,989▲ 2.3%
2024 · €518,805
Solvency
48.9%▲ 0.5pp
2024 · 48.3%
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€16,607
▲ 69.5%
2025
20192025
Net result
€8,755
▲ 98.8%
2025
middle half of the sector
20192025
Equity
€259,389
▲ 3.5%
2025
middle half of the sector
20192025
Total assets
€530,989
▲ 2.3%
2025
lowest quarter of the sector
20192025
Debt
€271,600
▲ 1.3%
2025
20192025
Working capital
-€172,269
▲ 5.3%
2025
middle half of the sector
20192025
Solvency
48.9%
▲ 0.5pp
2025
middle half of the sector
20192025
Current ratio
0.37
▲ 0.04
2025
middle half of the sector
20192025
Return on assets (ROA)
1.6%
▲ 0.8pp
2025
middle half of the sector
20192025
Staff (FTE)
no figure
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€23,040-€9,107▼ 60.5%€4,613▼ 49.4%€4,488▼ 2.7%€29,737▲ 563%€9,799▼ 67.0%€16,607▲ 69.5%
Net result€57,025-€3,181below the sector's middle half▼ 94.4%€929below the sector's middle half▼ 70.8%€961below the sector's middle half▲ 3.5%€18,560within the sector's middle half▲ 19×€4,403below the sector's middle half▼ 76.3%€8,755within the sector's middle half▲ 98.8%
Equity€222,601-€225,781within the sector's middle half▲ 1.4%€226,710within the sector's middle half▲ 0.4%€227,670within the sector's middle half▲ 0.4%€246,231within the sector's middle half▲ 8.2%€250,634within the sector's middle half▲ 1.8%€259,389within the sector's middle half▲ 3.5%
Total assets€696,464-€580,640within the sector's middle half▼ 16.6%€578,795within the sector's middle half▼ 0.3%€584,276below the sector's middle half▲ 0.9%€514,726below the sector's middle half▼ 11.9%€518,805below the sector's middle half▲ 0.8%€530,989below the sector's middle half▲ 2.3%
Debt€473,863-€354,858▼ 25.1%€352,085▼ 0.8%€356,605▲ 1.3%€268,495▼ 24.7%€268,171▼ 0.1%€271,600▲ 1.3%
Working capital-€175,281--€305,668below the sector's middle half▼ 74.4%-€305,060below the sector's middle half▲ 0.2%-€303,951below the sector's middle half▲ 0.4%-€187,398below the sector's middle half▲ 38.3%-€181,908within the sector's middle half▲ 2.9%-€172,269within the sector's middle half▲ 5.3%
Solvency32.0%-38.9%within the sector's middle half▲ 6.9pp39.2%within the sector's middle half▲ 0.3pp39.0%within the sector's middle half▼ 0.2pp47.8%within the sector's middle half▲ 8.9pp48.3%within the sector's middle half▲ 0.5pp48.9%within the sector's middle half▲ 0.5pp
Current ratio0.60-0.14below the sector's middle half▼ 0.460.13below the sector's middle half▼ 0.010.15below the sector's middle half▲ 0.010.30below the sector's middle half▲ 0.150.32below the sector's middle half▲ 0.020.37within the sector's middle half▲ 0.04
Return on assets (ROA)8.2%-0.5%within the sector's middle half▼ 7.6pp0.2%below the sector's middle half▼ 0.4pp0.2%below the sector's middle half=3.6%within the sector's middle half▲ 3.4pp0.8%within the sector's middle half▼ 2.8pp1.6%within the sector's middle half▲ 0.8pp
Staff (FTE)0within the sector's middle half
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 69% higher than in 2024. It is a recovery after the fall 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 €530,989
Fixed assets
€431,658 ▼ 0.2%
Current assets
€99,331 ▲ 15.1%
Equity and liabilities €530,989
Equity
€259,389 ▲ 3.5%
Debt
€271,600 ▲ 1.3%
Debt's share of the balance-sheet total falls from 51.7% to 51.1%. Equity and debt are higher.
Key figures and ratios
ROE
3.4%▲
2024 · 1.8%
Debt ≤ 1 year
€271,600▲
2024 · €268,171
Income taxes
€5,485▲
2024 · €2,907
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €873 | €2,684 | - | - |
| Depreciation and write-downs of the year | €1,021 | €677 | €1,087 | €884 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €614 | €1,174 | €975 | €1,021 | €677 | €1,087 | €884 | ▼ 18.6% |
| Other operating charges640/8 | - | - | - | €531 | €482 | €470 | €387 | ▼ 17.5% |
| Gross operating margin9900 | €23,726 | €10,354 | €6,236 | €6,039 | €30,896 | €11,355 | €17,879 | ▲ 57.4% |
| Operating profit (loss)9901 | €23,040 | €9,107 | €4,613 | €4,488 | €29,737 | €9,799 | €16,607 | ▲ 69.5% |
| Recurring financial income75 | €50,000 | €0 | - | - | - | - | - | - |
| Financial charges65/66B | - | - | - | €3,167 | €1,676 | €2,489 | €2,367 | ▼ 4.9% |
| Recurring financial charges65 | €12,750 | €4,589 | €3,346 | €3,167 | €1,676 | €2,489 | €2,367 | ▼ 4.9% |
| Profit (loss) for the period before taxes9903 | €60,290 | €4,518 | €1,267 | €1,321 | €28,061 | €7,310 | €14,240 | ▲ 94.8% |
| Income taxes67/77 | €3,265 | €1,338 | €338 | €360 | €9,501 | €2,907 | €5,485 | ▲ 88.7% |
| Profit (loss) for the period9904 | €57,025 | €3,181 | €929 | €961 | €18,560 | €4,403 | €8,755 | ▲ 98.8% |
| Profit (loss) for the period to be appropriated9905 | €57,025 | €3,181 | €929 | €961 | €18,560 | €4,403 | €8,755 | ▲ 98.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €696,464 | €580,640 | €578,795 | €584,276 | €514,726 | €518,805 | €530,989 | ▲ 2.3% |
| Fixed assets21/28 | €430,945 | €531,450 | €531,770 | €531,622 | €433,629 | €432,542 | €431,658 | ▼ 0.2% |
| Tangible fixed assets22/27 | €945 | €1,450 | €1,770 | €1,622 | €3,629 | €2,542 | €1,658 | ▼ 34.8% |
| Plant, machinery and equipment23 | - | - | - | €1,622 | €3,629 | €2,542 | €1,658 | ▼ 34.8% |
| Financial fixed assets28 | €430,000 | €530,000 | €530,000 | €530,000 | €430,000 | €430,000 | €430,000 | = |
| Current assets29/58 | €265,520 | €49,190 | €47,025 | €52,654 | €81,097 | €86,263 | €99,331 | ▲ 15.1% |
| Amounts receivable within one year40/41 | €150,000 | €7,453 | €6,132 | €5,748 | €27,797 | €8,148 | €4,719 | ▼ 42.1% |
| Trade receivables40 | - | - | - | €5,748 | €27,643 | €8,148 | €4,719 | ▼ 42.1% |
| Other amounts receivable41 | - | - | - | - | €154 | €0 | - | - |
| Cash at bank and in hand54/58 | €65,520 | €41,445 | €40,893 | €46,249 | €51,326 | €76,314 | €92,963 | ▲ 21.8% |
| Deferred charges and accrued income490/1 | - | - | - | €657 | €1,974 | €1,801 | €1,648 | ▼ 8.5% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €696,464 | €580,640 | €578,795 | €584,276 | €514,726 | €518,805 | €530,989 | ▲ 2.3% |
| Equity10/15 | €222,601 | €225,781 | €226,710 | €227,670 | €246,231 | €250,634 | €259,389 | ▲ 3.5% |
| Contributions10/11 | €50,000 | - | - | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Reserves13 | €172,500 | €175,500 | €176,500 | €177,670 | €196,231 | €200,634 | €209,389 | ▲ 4.4% |
| Non-distributable reserves130/1 | - | - | - | €5,000 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €5,000 | - | - | - | - |
| Distributable reserves133 | - | - | - | €172,670 | €196,231 | €200,634 | €209,389 | ▲ 4.4% |
| Profit (loss) carried forward14 | €101 | €281 | €210 | - | - | - | - | - |
| Amounts payable17/49 | €473,863 | €354,858 | €352,085 | €356,605 | €268,495 | €268,171 | €271,600 | ▲ 1.3% |
| Amounts payable after more than one year17 | €33,063 | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €440,800 | €354,858 | €352,085 | €356,605 | €268,495 | €268,171 | €271,600 | ▲ 1.3% |
| Financial debts43 | - | - | - | €14,826 | €619 | €0 | - | - |
| Credit institutions430/8 | - | - | - | €14,826 | €619 | €0 | - | - |
| Trade debts44 | €1,462 | €1,203 | €899 | €965 | €28 | €29 | €4,806 | ▲ 166× |
| Suppliers440/4 | - | - | - | €965 | €28 | €29 | €4,806 | ▲ 166× |
| Taxes, remuneration and social security45 | - | - | - | €4,652 | €17,034 | €12,223 | €10,301 | ▼ 15.7% |
| Taxes450/3 | - | - | - | €4,652 | €17,034 | €8,174 | €10,301 | ▲ 26.0% |
| Remuneration and social security454/9 | - | - | - | - | - | €4,049 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | €336,163 | €250,814 | €255,919 | €256,492 | ▲ 0.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €57,025 | €3,181 | €929 | €961 | €18,560 | €4,403 | €8,755 | ▲ 98.8% |
| + Depreciation and write-downs630 | €614 | €1,174 | €975 | €1,021 | €677 | €1,087 | €884 | ▼ 18.6% |
| Operating cash flow (approximation) | €57,639 | €4,355 | €1,903 | €1,982 | €19,237 | €5,490 | €9,639 | ▲ 75.6% |
| Investment in fixed assets (approximation) | - | -€101,679 | -€1,295 | -€873 | €97,316 | €0 | €0 | - |
| Change in cash | - | -€24,075 | -€552 | €5,356 | €5,077 | €24,988 | €16,650 | ▼ 33.4% |
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 (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | abbreviated format | 31-01-2026 | 2026-00025773 | |
| 30-06-2024 | abbreviated format | 29-01-2025 | 2025-00026008 | |
| 30-06-2023 | abbreviated format | 31-01-2024 | 2024-00016869 | |
| 30-06-2022 | abbreviated format | 19-01-2023 | 2023-00000509 | |
| 30-06-2021 | abbreviated format | 07-01-2022 | 2022-00800275 | |
| 30-06-2020 | abbreviated format | 26-01-2021 | 2021-01800375 | |
| 30-06-2019 | abbreviated format | 06-01-2020 | 2020-00500390 | |
| 30-06-2018 | abbreviated format | 08-01-2019 | 2019-00600493 | |
| 30-06-2017 | abbreviated format | 12-01-2018 | 2018-01000076 | |
| 30-06-2016 | abbreviated format | 13-12-2016 | 2016-69900549 |