Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 22-06-2026 at the NBB all 6 filings
Equity
€129,159▲ 179%
2024 · €46,263
Net result
€82,896▲ 129%
2024 · €36,263
Total assets
€526,282▼ 4.3%
2024 · €550,118
Solvency
24.5%▲ 16.1pp
2024 · 8.4%
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
€32,823
▼ 34.7%
2025
20202025
Net result
€82,896
▲ 129%
2025
middle half of the sector
20202025
Equity
€129,159
▲ 179%
2025
lowest quarter of the sector
20202025
Total assets
€526,282
▼ 4.3%
2025
lowest quarter of the sector
20202025
Debt
€397,123
▼ 21.2%
2025
20202025
Working capital
-€365,826
▲ 15.8%
2025
lowest quarter of the sector
20202025
Solvency
24.5%
▲ 16.1pp
2025
middle half of the sector
20202025
Current ratio
0.08
▼ 0.03
2025
lowest quarter of the sector
20202025
Return on assets (ROA)
15.8%
▲ 9.2pp
2025
highest quarter of the sector
20202025
Staff (FTE)
0
2025
middle half of the sector
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€18,232-€11,722▼ 35.7%€41,170▲ 251%€38,004▼ 7.7%€50,276▲ 32.3%€32,823▼ 34.7%
Net result€314,725above the sector's middle half-€44,610within the sector's middle half▼ 85.8%€31,577within the sector's middle half▼ 29.2%€29,089within the sector's middle half▼ 7.9%€36,263within the sector's middle half▲ 24.7%€82,896within the sector's middle half▲ 129%
Equity€354,725within the sector's middle half-€399,335within the sector's middle half▲ 12.6%€430,911within the sector's middle half▲ 7.9%€460,001within the sector's middle half▲ 6.8%€46,263below the sector's middle half▼ 89.9%€129,159below the sector's middle half▲ 179%
Total assets€502,079below the sector's middle half-€506,298below the sector's middle half▲ 0.8%€527,997below the sector's middle half▲ 4.3%€517,398below the sector's middle half▼ 2.0%€550,118below the sector's middle half▲ 6.3%€526,282below the sector's middle half▼ 4.3%
Debt€147,355-€106,963▼ 27.4%€97,085▼ 9.2%€57,398▼ 40.9%€503,855▲ 778%€397,123▼ 21.2%
Working capital-€68,832within the sector's middle half--€38,508within the sector's middle half▲ 44.1%-€21,217within the sector's middle half▲ 44.9%-€6,413within the sector's middle half▲ 69.8%-€434,436below the sector's middle half▼ 6,674%-€365,826below the sector's middle half▲ 15.8%
Solvency70.7%within the sector's middle half-78.9%above the sector's middle half▲ 8.2pp81.6%above the sector's middle half▲ 2.7pp88.9%above the sector's middle half▲ 7.3pp8.4%below the sector's middle half▼ 80.5pp24.5%within the sector's middle half▲ 16.1pp
Current ratio0.09below the sector's middle half-0.23below the sector's middle half▲ 0.130.61within the sector's middle half▲ 0.380.78within the sector's middle half▲ 0.170.11below the sector's middle half▼ 0.660.08below the sector's middle half▼ 0.03
Return on assets (ROA)62.7%above the sector's middle half-8.8%within the sector's middle half▼ 53.9pp6.0%within the sector's middle half▼ 2.8pp5.6%within the sector's middle half▼ 0.4pp6.6%within the sector's middle half▲ 1.0pp15.8%above the sector's middle half▲ 9.2pp
Staff (FTE)0below the sector's middle half0below the sector's middle half0within the sector's middle half0within the sector's middle half0within 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 35% lower than in 2024 and the lowest since 2021.
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 €526,282
Fixed assets
€494,985 =
Current assets
€31,297 ▼ 43.2%
Equity and liabilities €526,282
Equity
€129,159 ▲ 179%
Debt
€397,123 ▼ 21.2%
Debt's share of the balance-sheet total falls from 91.6% to 75.5%. Equity is higher and debt is lower.
Key figures and ratios
ROE
64.2%▼
2024 · 78.4%
Debt ≤ 1 year
€397,123▼
2024 · €489,569
Debt > 1 year
€0▼
2024 · €14,286
Income taxes
€6,934▼
2024 · €13,337
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €71,429 | €57,143 | €42,857 | €28,571 | €14,286 |
| Pledge on other assets, amount secured | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 |
| Carrying value of the other pledged assets | €494,985 | €494,985 | €494,985 | €494,985 | €494,985 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | €541 | €545 | €601 | €745 | €742 | ▼ 0.5% |
| Gross operating margin9900 | €19,270 | €12,262 | €41,715 | €38,605 | €51,021 | €33,565 | ▼ 34.2% |
| Operating profit (loss)9901 | €18,232 | €11,722 | €41,170 | €38,004 | €50,276 | €32,823 | ▼ 34.7% |
| Financial income75/76B | - | €38,182 | €0 | €37 | €122 | €57,446 | ▲ 470× |
| Recurring financial income75 | €305,455 | €38,182 | €0 | €37 | €122 | €57,446 | ▲ 470× |
| Financial charges65/66B | - | €3,447 | €1,487 | €1,009 | €798 | €440 | ▼ 44.9% |
| Recurring financial charges65 | €4,270 | €3,447 | €1,487 | €1,009 | €798 | €440 | ▼ 44.9% |
| Profit (loss) for the period before taxes9903 | €319,417 | €46,456 | €39,683 | €37,032 | €49,600 | €89,829 | ▲ 81.1% |
| Income taxes67/77 | €4,692 | €1,847 | €8,106 | €7,943 | €13,337 | €6,934 | ▼ 48.0% |
| Profit (loss) for the period9904 | €314,725 | €44,610 | €31,577 | €29,089 | €36,263 | €82,896 | ▲ 129% |
| Profit (loss) for the period to be appropriated9905 | €314,725 | €44,610 | €31,577 | €29,089 | €36,263 | €82,896 | ▲ 129% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €502,079 | €506,298 | €527,997 | €517,398 | €550,118 | €526,282 | ▼ 4.3% |
| Fixed assets21/28 | €494,985 | €494,985 | €494,985 | €494,985 | €494,985 | €494,985 | = |
| Financial fixed assets28 | €494,985 | €494,985 | €494,985 | €494,985 | €494,985 | €494,985 | = |
| Current assets29/58 | €7,094 | €11,312 | €33,012 | €22,413 | €55,133 | €31,297 | ▼ 43.2% |
| Amounts receivable within one year40/41 | €104 | €1,153 | €3,048 | €5,460 | €8,850 | €7,741 | ▼ 12.5% |
| Trade receivables40 | - | €0 | - | - | €5,688 | €0 | ▼ 100% |
| Other amounts receivable41 | - | €1,153 | €3,048 | €5,460 | €3,163 | €7,741 | ▲ 145% |
| Cash at bank and in hand54/58 | €6,863 | €10,027 | €29,828 | €16,814 | €46,141 | €23,412 | ▼ 49.3% |
| Deferred charges and accrued income490/1 | - | €132 | €136 | €139 | €141 | €143 | ▲ 1.4% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €502,079 | €506,298 | €527,997 | €517,398 | €550,118 | €526,282 | ▼ 4.3% |
| Equity10/15 | €354,725 | €399,335 | €430,911 | €460,001 | €46,263 | €129,159 | ▲ 179% |
| Contributions10/11 | - | €40,000 | €40,000 | €40,000 | €40,000 | €40,000 | = |
| Reserves13 | €314,725 | €359,335 | €390,911 | €420,001 | €6,263 | €89,159 | ▲ 14× |
| Non-distributable reserves130/1 | - | €4,000 | €4,000 | €4,000 | - | - | - |
| Reserves not available under the articles1311 | - | €4,000 | €4,000 | €4,000 | - | - | - |
| Distributable reserves133 | - | €355,335 | €386,911 | €416,001 | €6,263 | €89,159 | ▲ 14× |
| Profit (loss) carried forward14 | - | - | - | - | €0 | €0 | - |
| Amounts payable17/49 | €147,355 | €106,963 | €97,085 | €57,398 | €503,855 | €397,123 | ▼ 21.2% |
| Amounts payable after more than one year17 | €71,429 | €57,143 | €42,857 | €28,571 | €14,286 | €0 | ▼ 100% |
| Financial debts170/4 | - | €57,143 | €42,857 | €28,571 | €14,286 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €75,926 | €49,820 | €54,228 | €28,826 | €489,569 | €397,123 | ▼ 18.9% |
| Current portion of amounts payable after more than one year42 | - | €14,286 | €14,286 | €14,286 | €14,286 | €14,286 | = |
| Trade debts44 | - | €53 | €0 | €747 | €173 | €174 | ▲ 0.4% |
| Suppliers440/4 | - | €53 | €0 | €747 | €173 | €174 | ▲ 0.4% |
| Taxes, remuneration and social security45 | - | €4,681 | €9,013 | €3,612 | €15,169 | €10,527 | ▼ 30.6% |
| Taxes450/3 | - | €4,681 | €9,013 | €3,612 | €13,586 | €8,944 | ▼ 34.2% |
| Remuneration and social security454/9 | - | - | - | - | €1,583 | €1,583 | = |
| Other amounts payable47/48 | - | €30,801 | €30,930 | €10,181 | €459,941 | €372,137 | ▼ 19.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €314,725 | €44,610 | €31,577 | €29,089 | €36,263 | €82,896 | ▲ 129% |
| Operating cash flow (approximation) | €314,725 | €44,610 | €31,577 | €29,089 | €36,263 | €82,896 | ▲ 129% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €3,164 | €19,801 | -€13,015 | €29,328 | -€22,729 | - |
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 (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 22-06-2026 | 2026-00224733 | |
| 31-12-2024 | abbreviated format | 19-08-2025 | 2025-00406042 | |
| 31-12-2023 | abbreviated format | 16-07-2024 | 2024-00278655 | |
| 31-12-2022 | abbreviated format | 27-06-2023 | 2023-00201218 | |
| 31-12-2021 | abbreviated format | 29-07-2022 | 2022-20278369 | |
| 31-12-2020 | abbreviated format | 06-08-2021 | 2021-46700031 |