Financials · financial year 2025, micro format
Annual accounts 2025 filed on 30-04-2026 PDF all 5 filings
Equity
€568,043▲ 28.1%
2024 · €443,299
Net result
€124,743▲ 5.5%
2024 · €118,186
Total assets
€1.3m▲ 11.9%
2024 · €1.1m
Solvency
45.1%▲ 5.7pp
2024 · 39.4%
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€218,972
▲ 23.2%
2025
20212025
Net result
€124,743
▲ 5.5%
2025
highest quarter of the sector
20212025
Equity
€568,043
▲ 28.1%
2025
highest quarter of the sector
20212025
Total assets
€1.3m
▲ 11.9%
2025
highest quarter of the sector
20212025
Debt
€690,613
▲ 1.3%
2025
20212025
Working capital
€519,700
▲ 38.8%
2025
highest quarter of the sector
20212025
Solvency
45.1%
▲ 5.7pp
2025
middle half of the sector
20212025
Current ratio
3.40
▲ 0.18
2025
middle half of the sector
20212025
Return on assets (ROA)
9.9%
▼ 0.6pp
2025
middle half of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result€0.1m-€0.2m▲ 10.0%€0.2m▲ 4.1%€0.2m▲ 12.3%€0.2m▲ 23.2%
Net result€0.1mabove the sector's middle half-€0.1mabove the sector's middle half▲ 16.5%€0.1mabove the sector's middle half▲ 2.6%€0.1mabove the sector's middle half▲ 3.5%€0.1mabove the sector's middle half▲ 5.5%
Equity€0.1mwithin the sector's middle half-€0.2mwithin the sector's middle half▲ 110%€0.3mwithin the sector's middle half▲ 54.2%€0.4mabove the sector's middle half▲ 36.4%€0.6mabove the sector's middle half▲ 28.1%
Total assets€0.8mwithin the sector's middle half-€0.9mwithin the sector's middle half▲ 13.4%€1.0mabove the sector's middle half▲ 18.1%€1.1mabove the sector's middle half▲ 10.3%€1.3mabove the sector's middle half▲ 11.9%
Debt€0.7m-€0.7m▼ 1.2%€0.7m▲ 6.5%€0.7m▼ 1.9%€0.7m▲ 1.3%
Working capital€0.06mwithin the sector's middle half-€0.2mabove the sector's middle half▲ 143%€0.3mabove the sector's middle half▲ 78.2%€0.4mabove the sector's middle half▲ 34.3%€0.5mabove the sector's middle half▲ 38.8%
Solvency13.2%below the sector's middle half-24.4%within the sector's middle half▲ 11.2pp31.9%within the sector's middle half▲ 7.5pp39.4%within the sector's middle half▲ 7.5pp45.1%within the sector's middle half▲ 5.7pp
Current ratio1.75within the sector's middle half-2.40within the sector's middle half▲ 0.653.19within the sector's middle half▲ 0.783.22within the sector's middle half▲ 0.033.40within the sector's middle half▲ 0.18
Return on assets (ROA)12.5%within the sector's middle half-12.9%within the sector's middle half▲ 0.3pp11.2%within the sector's middle half▼ 1.7pp10.5%within the sector's middle half▼ 0.7pp9.9%within the sector's middle half▼ 0.6pp
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 23% higher than in 2024 and the highest since 2021. It is the fourth rise in a row.
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 €1.3m
Fixed assets
€522,437 ▼ 10.2%
Current assets
€736,219 ▲ 35.5%
Equity and liabilities €1.3m
Equity
€568,043 ▲ 28.1%
Debt
€690,613 ▲ 1.3%
Debt's share of the balance-sheet total falls from 60.6% to 54.9%. Equity and debt are higher.
Key figures and ratios
ROE
22.0%▼
2024 · 26.7%
Debt ≤ 1 year
€216,519▲
2024 · €168,798
Debt > 1 year
€474,094▼
2024 · €512,948
Income taxes
€90,977▲
2024 · €55,780
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Mortgages, amount registered | €27,500 | - | €25,000 | €25,000 | €25,000 |
| Mortgage mandates | €485,000 | - | €485,000 | €485,000 | €485,000 |
| Carrying value of the mortgaged assets | €574,187 | - | €544,534 | €527,908 | €513,347 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €684,474 | €780 | €45,684 | €8,800 | €6,705 |
| Financial fixed assets | €2,000 | - | - | €2,250 | - |
| Depreciation and write-downs of the year | €76,756 | €16,095 | €27,730 | €38,713 | €25,130 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €954 | €0 | €592 | €37,001 | ▲ 63× |
| Remuneration, social security and pensions62 | €224 | €0 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €76,756 | €16,095 | €27,730 | €38,713 | €25,130 | ▼ 35.1% |
| Other operating charges640/8 | €595 | €438 | €2,841 | €2,218 | €26,130 | ▲ 12× |
| Non-recurring operating charges66A | - | - | - | - | €30,000 | - |
| Gross operating margin9900 | €215,854 | €168,656 | €188,890 | €218,683 | €300,232 | ▲ 37.3% |
| Operating profit (loss)9901 | €138,279 | €152,123 | €158,319 | €177,753 | €218,972 | ▲ 23.2% |
| Financial income75/76B | €0 | €3,524 | €4,656 | €8,973 | €11,498 | ▲ 28.1% |
| Recurring financial income75 | €0 | €3,524 | €4,656 | €8,973 | €11,498 | ▲ 28.1% |
| Financial charges65/66B | €4,775 | €9,841 | €10,178 | €12,759 | €14,749 | ▲ 15.6% |
| Recurring financial charges65 | €4,775 | €9,841 | €10,178 | €12,759 | €14,749 | ▲ 15.6% |
| Profit (loss) for the period before taxes9903 | €133,504 | €145,806 | €152,797 | €173,966 | €215,721 | ▲ 24.0% |
| Income taxes67/77 | €37,953 | €34,526 | €38,583 | €55,780 | €90,977 | ▲ 63.1% |
| Profit (loss) for the period9904 | €95,551 | €111,280 | €114,214 | €118,186 | €124,743 | ▲ 5.5% |
| Profit (loss) for the period to be appropriated9905 | €95,551 | €111,280 | €114,214 | €118,186 | €124,743 | ▲ 5.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €0.8m | €0.9m | €1.0m | €1.1m | €1.3m | ▲ 11.9% |
| Fixed assets21/28 | €0.6m | €0.6m | €0.6m | €0.6m | €0.5m | ▼ 10.2% |
| Tangible fixed assets22/27 | €0.6m | €0.6m | €0.6m | €0.6m | €0.5m | ▼ 10.3% |
| Land and buildings22 | €0.6m | €0.6m | €0.5m | €0.5m | €0.5m | ▼ 2.8% |
| Plant, machinery and equipment23 | - | €0.004m | €0.003m | €0.002m | €0.007m | ▲ 313% |
| Furniture and vehicles24 | €0.005m | - | €0.03m | €0.02m | €0 | ▼ 100% |
| Other tangible fixed assets26 | €0.03m | €0.03m | €0.03m | €0.03m | €0 | ▼ 100% |
| Financial fixed assets28 | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Current assets29/58 | €0.2m | €0.3m | €0.4m | €0.5m | €0.7m | ▲ 35.5% |
| Amounts receivable after more than one year29 | €0.1m | €0.2m | €0.4m | €0.5m | €0.6m | ▲ 29.7% |
| Other amounts receivable291 | €0.1m | €0.2m | €0.4m | €0.5m | €0.6m | ▲ 29.7% |
| Stocks and contracts in progress3 | - | - | €0.007m | €0 | - | - |
| Stocks30/36 | - | - | €0.007m | €0 | - | - |
| Amounts receivable within one year40/41 | €0.03m | €0.009m | €0.02m | €0.06m | €0.1m | ▲ 83.5% |
| Trade receivables40 | €0.03m | €0.009m | €0.01m | €0.06m | €0.06m | ▲ 1.8% |
| Other amounts receivable41 | €0.005m | €0 | €0.004m | €0.006m | €0.06m | ▲ 917% |
| Cash at bank and in hand54/58 | €61 | €0.02m | €452 | €0.003m | €0.001m | ▼ 75.3% |
| Deferred charges and accrued income490/1 | - | €0.002m | €0.003m | €250 | €0.001m | ▲ 359% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €0.8m | €0.9m | €1.0m | €1.1m | €1.3m | ▲ 11.9% |
| Equity10/15 | €0.1m | €0.2m | €0.3m | €0.4m | €0.6m | ▲ 28.1% |
| Contributions10/11 | €0.005m | €0.005m | €0.005m | €0.005m | €0.005m | = |
| Reserves13 | €0.09m | €0.2m | €0.3m | €0.4m | €0.6m | ▲ 28.5% |
| Distributable reserves133 | €0.09m | €0.2m | €0.3m | €0.4m | €0.6m | ▲ 28.5% |
| Profit (loss) carried forward14 | €0.006m | €0 | - | - | - | - |
| Amounts payable17/49 | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | ▲ 1.3% |
| Amounts payable after more than one year17 | €0.6m | €0.5m | €0.6m | €0.5m | €0.5m | ▼ 7.6% |
| Financial debts170/4 | €0.6m | €0.5m | €0.6m | €0.5m | €0.5m | ▼ 7.6% |
| Amounts payable within one year42/48 | €0.09m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 28.3% |
| Current portion of amounts payable after more than one year42 | €0.03m | €0.03m | €0.05m | €0.06m | €0.06m | ▼ 2.7% |
| Financial debts43 | - | - | €0.001m | €0 | €31 | - |
| Credit institutions430/8 | - | - | €0.001m | €0 | €31 | - |
| Trade debts44 | €0.01m | €0.009m | €0.004m | €0.01m | €0.005m | ▼ 53.2% |
| Suppliers440/4 | €0.01m | €0.009m | €0.004m | €0.01m | €0.005m | ▼ 53.2% |
| Taxes, remuneration and social security45 | €0.04m | €0.07m | €0.07m | €0.1m | €0.1m | ▲ 55.2% |
| Taxes450/3 | €0.04m | €0.07m | €0.07m | €0.1m | €0.1m | ▲ 54.2% |
| Remuneration and social security454/9 | €0.001m | €0 | - | - | €0.001m | - |
| Other amounts payable47/48 | €0.002m | €0.001m | €74 | €0.004m | €0.006m | ▲ 63.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €95,551 | €111,280 | €114,214 | €118,186 | €124,743 | ▲ 5.5% |
| + Depreciation and write-downs630 | €76,756 | €16,095 | €27,730 | €38,713 | €25,130 | ▼ 35.1% |
| Operating cash flow (approximation) | €172,307 | €127,375 | €141,944 | €156,899 | €149,873 | ▼ 4.5% |
| Investment in fixed assets (approximation) | - | -€780 | -€45,684 | -€6,985 | €34,294 | - |
| Change in cash | - | €24,774 | -€24,383 | €2,119 | -€1,937 | - |
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 (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 30-04-2026 | 2026-00102419 | |
| 30-09-2024 | micro format | 07-04-2025 | 2025-00064600 | |
| 30-09-2023 | micro format | 30-04-2024 | 2024-00074477 | |
| 30-09-2022 | micro format | 02-05-2023 | 2023-00074535 | |
| 30-09-2021 | micro format | 02-05-2022 | 2022-20015926 |