Financials · financial year 2025, micro format
Annual accounts 2025 filed on 29-04-2026 PDF all 25 filings
Amounts without an identifiable currency are taken as euros.
Equity
€1.4m▲ 1.5%
2024 · €1.4m
Net result
€20,132▼ 63.1%
2024 · €54,491
Total assets
€1.7m▼ 33.9%
2024 · €2.6m
Solvency
81.3%▲ 28.3pp
2024 · 52.9%
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€94,919
2025
20192025
Net result
€20,132
▼ 63.1%
2025
middle half of the sector
20192025
Equity
€1.4m
▲ 1.5%
2025
highest quarter of the sector
20192025
Total assets
€1.7m
▼ 33.9%
2025
highest quarter of the sector
20192025
Debt
€317,632
▼ 73.7%
2025
20192025
Working capital
€577,108
▼ 44.8%
2025
highest quarter of the sector
20192025
Solvency
81.3%
▲ 28.3pp
2025
highest quarter of the sector
20192025
Current ratio
2.82
▲ 0.95
2025
middle half of the sector
20192025
Return on assets (ROA)
1.2%
▼ 0.9pp
2025
lowest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€0.008m-€0.02m€0.1m▲ 657%€0.1m▲ 2.8%€0.3m▲ 146%€0.04m▼ 87.7%-€0.09m
Net result-€0.006m-€0.003mwithin the sector's middle half€0.1mabove the sector's middle half▲ 29×€0.09mabove the sector's middle half▼ 11.4%€0.3mabove the sector's middle half▲ 190%€0.05mwithin the sector's middle half▼ 78.4%€0.02mwithin the sector's middle half▼ 63.1%
Equity€0.9m-€0.9mabove the sector's middle half▲ 0.4%€1.0mabove the sector's middle half▲ 11.3%€1.1mabove the sector's middle half▲ 9.0%€1.3mabove the sector's middle half▲ 24.0%€1.4mabove the sector's middle half▲ 4.2%€1.4mabove the sector's middle half▲ 1.5%
Total assets€1.6m-€1.6mabove the sector's middle half▼ 2.4%€1.6mabove the sector's middle half▲ 4.1%€1.8mabove the sector's middle half▲ 13.2%€2.4mabove the sector's middle half▲ 32.3%€2.6mabove the sector's middle half▲ 5.7%€1.7mabove the sector's middle half▼ 33.9%
Debt€0.7m-€0.7m▼ 5.7%€0.7m▼ 5.0%€0.8m▲ 19.3%€1.1m▲ 43.6%€1.2m▲ 7.4%€0.3m▼ 73.7%
Working capital€0.4m-€0.4mabove the sector's middle half▲ 4.4%€0.6mabove the sector's middle half▲ 24.7%€0.7mabove the sector's middle half▲ 16.7%€1.0mabove the sector's middle half▲ 49.1%€1.0mabove the sector's middle half▲ 7.5%€0.6mabove the sector's middle half▼ 44.8%
Solvency54.1%-55.6%within the sector's middle half▲ 1.5pp59.5%within the sector's middle half▲ 3.9pp57.3%within the sector's middle half▼ 2.2pp53.7%within the sector's middle half▼ 3.6pp52.9%within the sector's middle half▼ 0.8pp81.3%above the sector's middle half▲ 28.3pp
Current ratio1.59-1.65within the sector's middle half▲ 0.061.85within the sector's middle half▲ 0.201.83within the sector's middle half▼ 0.021.86within the sector's middle half▲ 0.031.87within the sector's middle half=2.82within the sector's middle half▲ 0.95
Return on assets (ROA)-0.4%-0.2%below the sector's middle half▲ 0.6pp6.0%within the sector's middle half▲ 5.8pp4.7%within the sector's middle half▼ 1.3pp10.4%within the sector's middle half▲ 5.7pp2.1%within the sector's middle half▼ 8.3pp1.2%below the sector's middle half▼ 0.9pp
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 €94,919, after a profit of €39,333 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.7m
Fixed assets
€800,571 ▲ 156%
Current assets
€894,739 ▼ 60.3%
Equity and liabilities €1.7m
Equity
€1.4m ▲ 1.5%
Debt
€317,632 ▼ 73.7%
Debt's share of the balance-sheet total falls from 47.1% to 18.7%. Equity is higher and debt is lower.
Key figures and ratios
ROE
1.5%▼
2024 · 4.0%
Debt ≤ 1 year
€317,632▼
2024 · €1.2m
Income taxes
€11,585▼
2024 · €25,012
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €3,857 | €10,861 | €46,071 | €6,841 | €577,379 |
| Depreciation and write-downs of the year | €15,874 | €17,441 | €21,448 | €25,232 | €89,528 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €219,053 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16,420 | €16,038 | €15,874 | €17,441 | €21,448 | €25,232 | €89,528 | ▲ 255% |
| Other operating charges640/8 | - | - | €3,469 | €3,777 | €4,195 | €4,670 | €3,861 | ▼ 17.3% |
| Gross operating margin9900 | €15,098 | €36,263 | €145,740 | €151,119 | €345,493 | €69,235 | -€1,530 | - |
| Operating profit (loss)9901 | -€7,813 | €16,697 | €126,397 | €129,901 | €319,850 | €39,333 | -€94,919 | - |
| Financial income75/76B | - | - | €12,976 | €16,471 | €27,100 | €40,696 | €127,018 | ▲ 212% |
| Recurring financial income75 | €2,548 | €15,160 | €12,976 | €16,471 | €27,100 | €40,696 | €127,018 | ▲ 212% |
| Financial charges65/66B | - | - | €26,745 | €28,668 | €50,369 | €526 | €382 | ▼ 27.4% |
| Recurring financial charges65 | €320 | €28,503 | €26,745 | €28,668 | €50,369 | €526 | €382 | ▼ 27.4% |
| Profit (loss) for the period before taxes9903 | -€5,585 | €3,354 | €112,627 | €117,704 | €296,581 | €79,503 | €31,717 | ▼ 60.1% |
| Income taxes67/77 | - | €0 | €14,755 | €30,972 | €44,629 | €25,012 | €11,585 | ▼ 53.7% |
| Profit (loss) for the period9904 | -€5,585 | €3,354 | €97,872 | €86,732 | €251,952 | €54,491 | €20,132 | ▼ 63.1% |
| Transfer from tax-exempt reserves789 | - | - | €2,974 | €15,776 | €0 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | -€5,585 | €3,354 | €100,847 | €102,508 | €251,952 | €54,491 | €20,132 | ▼ 63.1% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.6m | €1.6m | €1.6m | €1.8m | €2.4m | €2.6m | €1.7m | ▼ 33.9% |
| Formation expenses20 | - | €0 | - | - | - | - | - | - |
| Fixed assets21/28 | €0.4m | €0.4m | €0.4m | €0.4m | €0.3m | €0.3m | €0.8m | ▲ 156% |
| Intangible fixed assets21 | - | €0 | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €0.3m | €0.3m | €0.3m | €0.3m | €0.2m | €0.2m | €0.7m | ▲ 230% |
| Land and buildings22 | - | - | €0.3m | €0.3m | €0.2m | €0.2m | €0.7m | ▲ 282% |
| Plant, machinery and equipment23 | - | - | €0.005m | €0.004m | €0 | - | €0.001m | - |
| Furniture and vehicles24 | - | - | €0.004m | €0.01m | €0.04m | €0.03m | €0.01m | ▼ 54.4% |
| Financial fixed assets28 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Current assets29/58 | €1.2m | €1.1m | €1.2m | €1.4m | €2.1m | €2.3m | €0.9m | ▼ 60.3% |
| Stocks and contracts in progress3 | - | €0 | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €1.1m | €1.1m | €1.2m | €1.4m | €2.0m | €2.2m | €0.5m | ▼ 76.4% |
| Trade receivables40 | - | - | €0.001m | €0.06m | €0 | €0.09m | €0.001m | ▼ 99.4% |
| Other amounts receivable41 | - | - | €1.2m | €1.4m | €2.0m | €2.1m | €0.5m | ▼ 75.5% |
| Current investments50/53 | - | €0 | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €0.05m | €0.006m | €0.01m | €0.01m | €0.1m | €0.05m | €0.4m | ▲ 683% |
| Deferred charges and accrued income490/1 | - | - | €0.001m | €0.001m | €102 | €308 | €0.001m | ▲ 286% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.6m | €1.6m | €1.6m | €1.8m | €2.4m | €2.6m | €1.7m | ▼ 33.9% |
| Equity10/15 | €0.9m | €0.9m | €1.0m | €1.1m | €1.3m | €1.4m | €1.4m | ▲ 1.5% |
| Contributions10/11 | €0.02m | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.8m | €0.8m | €0.9m | €1.0m | €1.3m | €1.3m | €1.4m | ▲ 1.5% |
| Non-distributable reserves130/1 | - | - | €0.002m | €0.002m | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | €0.002m | €0.002m | €0 | - | - | - |
| Tax-exempt reserves132 | - | - | €0.02m | - | - | - | - | - |
| Distributable reserves133 | - | - | €0.9m | €1.0m | €1.3m | €1.3m | €1.4m | ▲ 1.5% |
| Profit (loss) carried forward14 | - | €0 | - | - | - | - | - | - |
| Amounts payable17/49 | €0.7m | €0.7m | €0.7m | €0.8m | €1.1m | €1.2m | €0.3m | ▼ 73.7% |
| Amounts payable within one year42/48 | €0.7m | €0.7m | €0.7m | €0.8m | €1.1m | €1.2m | €0.3m | ▼ 73.7% |
| Trade debts44 | €0.002m | €0.005m | €0.001m | €0.002m | €0.07m | €0.004m | €0.001m | ▼ 80.9% |
| Suppliers440/4 | - | - | €0.001m | €0.002m | €0.07m | €0.004m | €0.001m | ▼ 80.9% |
| Taxes, remuneration and social security45 | - | - | €0.01m | - | €0.02m | €0.03m | €0.02m | ▼ 32.5% |
| Taxes450/3 | - | - | €0.01m | - | €0.02m | €0.03m | €0.02m | ▼ 32.5% |
| Other amounts payable47/48 | - | - | €0.6m | €0.8m | €1.0m | €1.2m | €0.3m | ▼ 74.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,585 | €3,354 | €97,872 | €86,732 | €251,952 | €54,491 | €20,132 | ▼ 63.1% |
| + Depreciation and write-downs630 | €16,420 | €16,038 | €15,874 | €17,441 | €21,448 | €25,232 | €89,528 | ▲ 255% |
| Operating cash flow (approximation) | €10,834 | €19,392 | €113,746 | €104,173 | €273,401 | €79,723 | €109,660 | ▲ 37.6% |
| Investment in fixed assets (approximation) | - | -€722 | -€2,974 | -€10,861 | €46,586 | -€6,841 | -€577,379 | ▼ 8,340% |
| Change in cash | - | -€39,436 | €3,747 | €391 | €93,632 | -€56,150 | €326,459 | - |
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 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 29-04-2026 | 2026-00102811 | |
| 30-09-2024 | micro format | 28-04-2025 | 2025-00085331 | |
| 30-09-2023 | micro format | 25-04-2024 | 2024-00081228 | |
| 30-09-2022 | micro format | 25-04-2023 | 2023-00067386 | |
| 30-09-2021 | micro format | 29-04-2022 | 2022-20022007 | |
| 30-09-2020 | micro format | 09-04-2021 | 2021-10100089 | |
| 30-09-2019 | micro format | 07-04-2020 | 2020-08600540 | |
| 30-09-2018 | micro format | 29-04-2019 | 2019-11200212 | |
| 30-09-2017 | micro format | 20-03-2018 | 2018-07000015 | |
| 30-09-2016 | abbreviated format | 05-04-2017 | 2017-08000047 |