Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 27-07-2026 at the NBB all 4 filings
Amounts without an identifiable currency are taken as euros.
Equity
€134,397▼ 14.3%
2024 · €156,885
Net result
-€22,488▼ 68.9%
2024 · -€13,315
Total assets
€187,312▲ 11.1%
2024 · €168,605
Solvency
71.8%▼ 21.3pp
2024 · 93.0%
Multi-year overview
2022 to 2025, 4 financial yearsOperating result
-€24,364
▼ 31.3%
2025
20222025
Net result
-€22,488
▼ 68.9%
2025
lowest quarter of the sector
20222025
Equity
€134,397
▼ 14.3%
2025
lowest quarter of the sector
20222025
Total assets
€187,312
▲ 11.1%
2025
lowest quarter of the sector
20222025
Debt
€52,916
▲ 352%
2025
20222025
Working capital
€130,295
▼ 16.4%
2025
middle half of the sector
20222025
Solvency
71.8%
▼ 21.3pp
2025
middle half of the sector
20222025
Current ratio
3.46
▼ 10.83
2025
highest quarter of the sector
20222025
Return on assets (ROA)
-12.0%
▼ 4.1pp
2025
lowest quarter of the sector
20222025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Operating result€221,057--€6,297-€18,554▼ 195%-€24,364▼ 31.3%
Net result€171,961above the sector's middle half--€3,260below the sector's middle half-€13,315below the sector's middle half▼ 308%-€22,488below the sector's middle half▼ 68.9%
Equity€173,461within the sector's middle half-€170,201below the sector's middle half▼ 1.9%€156,885below the sector's middle half▼ 7.8%€134,397below the sector's middle half▼ 14.3%
Total assets€186,350below the sector's middle half-€195,128below the sector's middle half▲ 4.7%€168,605below the sector's middle half▼ 13.6%€187,312below the sector's middle half▲ 11.1%
Debt€12,889-€24,927▲ 93.4%€11,720▼ 53.0%€52,916▲ 352%
Working capital€171,592within the sector's middle half-€168,997within the sector's middle half▼ 1.5%€155,820within the sector's middle half▼ 7.8%€130,295within the sector's middle half▼ 16.4%
Solvency93.1%above the sector's middle half-87.2%above the sector's middle half▼ 5.9pp93.0%above the sector's middle half▲ 5.8pp71.8%within the sector's middle half▼ 21.3pp
Current ratio14.31above the sector's middle half-7.78above the sector's middle half▼ 6.5314.30above the sector's middle half▲ 6.523.46above the sector's middle half▼ 10.83
Return on assets (ROA)92.3%above the sector's middle half--1.7%below the sector's middle half▼ 93.9pp-7.9%below the sector's middle half▼ 6.2pp-12.0%below the sector's middle half▼ 4.1pp
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 €24,364, larger than the loss of €18,554 in 2024. It is the lowest result since 2022.
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €187,093
Fixed assets
€3,883 ▲ 783%
Current assets
€183,210 ▲ 9.4%
Equity and liabilities €187,312
Equity
€134,397 ▼ 14.3%
Debt
€52,916 ▲ 352%
Debt's share of the balance-sheet total rises from 7.0% to 28.2%. Equity is lower and debt is higher.
Key figures and ratios
ROE
-16.7%▼
2024 · -8.5%
Debt ≤ 1 year
€52,916▲
2024 · €11,720
Income taxes
€449▼
2024 · €477
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €774 | - | €634 | €3,799 |
| Depreciation and write-downs of the year | €938 | €664 | €773 | €762 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €34,188 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €938 | €664 | €773 | €762 | ▼ 1.3% |
| Other operating charges640/8 | €2,189 | €1,696 | €1,949 | €1,149 | ▼ 41.0% |
| Gross operating margin9900 | €224,184 | -€3,936 | -€15,833 | -€22,453 | ▼ 41.8% |
| Operating profit (loss)9901 | €221,057 | -€6,297 | -€18,554 | -€24,364 | ▼ 31.3% |
| Financial income75/76B | €6,054 | €5,806 | €7,456 | €5,722 | ▼ 23.3% |
| Recurring financial income75 | €6,054 | €5,806 | €7,456 | €5,722 | ▼ 23.3% |
| Financial charges65/66B | €197 | €1,217 | €1,740 | €3,398 | ▲ 95.3% |
| Recurring financial charges65 | €197 | €1,217 | €1,740 | €3,398 | ▲ 95.3% |
| Profit (loss) for the period before taxes9903 | €226,915 | -€1,707 | -€12,838 | -€22,040 | ▼ 71.7% |
| Income taxes67/77 | €54,953 | €1,553 | €477 | €449 | ▼ 6.0% |
| Profit (loss) for the period9904 | €171,961 | -€3,260 | -€13,315 | -€22,488 | ▼ 68.9% |
| Profit (loss) for the period to be appropriated9905 | €171,961 | -€3,260 | -€13,315 | -€22,488 | ▼ 68.9% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €186,350 | €195,128 | €168,605 | €187,312 | ▲ 11.1% |
| Formation expenses20 | €1,440 | €1,033 | €626 | €220 | ▼ 64.9% |
| Fixed assets21/28 | €429 | €171 | €439 | €3,883 | ▲ 783% |
| Tangible fixed assets22/27 | €429 | €171 | €439 | €3,883 | ▲ 783% |
| Furniture and vehicles24 | €429 | €171 | €439 | €3,883 | ▲ 783% |
| Current assets29/58 | €184,481 | €193,923 | €167,539 | €183,210 | ▲ 9.4% |
| Amounts receivable within one year40/41 | €120,291 | €183,417 | €143,623 | €165,640 | ▲ 15.3% |
| Trade receivables40 | €12,100 | €53,467 | €60,500 | €37,488 | ▼ 38.0% |
| Other amounts receivable41 | €108,191 | €129,950 | €83,123 | €128,153 | ▲ 54.2% |
| Cash at bank and in hand54/58 | €38,840 | €6,638 | €2,339 | €250 | ▼ 89.3% |
| Deferred charges and accrued income490/1 | €25,350 | €3,869 | €21,577 | €17,320 | ▼ 19.7% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €186,350 | €195,128 | €168,605 | €187,312 | ▲ 11.1% |
| Equity10/15 | €173,461 | €170,201 | €156,885 | €134,397 | ▼ 14.3% |
| Contributions10/11 | €1,500 | €1,500 | €1,500 | €1,500 | = |
| Reserves13 | €171,961 | €168,701 | €155,385 | €132,897 | ▼ 14.5% |
| Distributable reserves133 | €171,961 | €168,701 | €155,385 | €132,897 | ▼ 14.5% |
| Amounts payable17/49 | €12,889 | €24,927 | €11,720 | €52,916 | ▲ 352% |
| Amounts payable within one year42/48 | €12,889 | €24,927 | €11,720 | €52,916 | ▲ 352% |
| Financial debts43 | - | - | - | €46,288 | - |
| Credit institutions430/8 | - | - | - | €46,288 | - |
| Trade debts44 | €3,182 | €6,288 | €1,166 | €2,138 | ▲ 83.3% |
| Suppliers440/4 | €3,182 | €6,288 | €1,166 | €2,138 | ▲ 83.3% |
| Taxes, remuneration and social security45 | €9,707 | €17,215 | €10,553 | €4,489 | ▼ 57.5% |
| Taxes450/3 | €9,707 | €13,465 | €6,803 | €4,489 | ▼ 34.0% |
| Remuneration and social security454/9 | - | €3,750 | €3,750 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | €1,424 | - | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €171,961 | -€3,260 | -€13,315 | -€22,488 | ▼ 68.9% |
| + Depreciation and write-downs630 | €938 | €664 | €773 | €762 | ▼ 1.3% |
| Operating cash flow (approximation) | €172,899 | -€2,596 | -€12,543 | -€21,726 | ▼ 73.2% |
| Investment in fixed assets (approximation) | - | -€406 | -€1,041 | -€4,205 | ▼ 304% |
| Change in cash | - | -€32,202 | -€4,299 | -€2,089 | ▲ 51.4% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.