Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 31-07-2026 at the NBB all 15 filings
Equity
€275,733▲ 9.7%
2024 · €251,367
Net result
€24,366▲ 11.8%
2024 · €21,793
Total assets
€317,640▼ 12.2%
2024 · €361,782
Solvency
86.8%▲ 17.3pp
2024 · 69.5%
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€34,411
▲ 5.1%
2025
20182025
Net result
€24,366
▲ 11.8%
2025
middle half of the sector
20182025
Equity
€275,733
▲ 9.7%
2025
middle half of the sector
20182025
Total assets
€317,640
▼ 12.2%
2025
lowest quarter of the sector
20182025
Debt
€41,907
▼ 62.0%
2025
20182025
Working capital
-€11,805
▲ 75.9%
2025
middle half of the sector
20182025
Solvency
86.8%
▲ 17.3pp
2025
highest quarter of the sector
20182025
Current ratio
0.26
▼ 0.10
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
7.7%
▲ 1.6pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€37,392-€36,893▼ 1.3%€35,688▼ 3.3%€36,373▲ 1.9%€35,162▼ 3.3%€36,265▲ 3.1%€32,754▼ 9.7%€34,411▲ 5.1%
Net result€21,710-€21,859▲ 0.7%€23,369within the sector's middle half▲ 6.9%€24,504within the sector's middle half▲ 4.9%€23,828within the sector's middle half▼ 2.8%€23,686within the sector's middle half▼ 0.6%€21,793within the sector's middle half▼ 8.0%€24,366within the sector's middle half▲ 11.8%
Equity€112,328-€134,187▲ 19.5%€157,556within the sector's middle half▲ 17.4%€182,060within the sector's middle half▲ 15.6%€205,888within the sector's middle half▲ 13.1%€229,574within the sector's middle half▲ 11.5%€251,367within the sector's middle half▲ 9.5%€275,733within the sector's middle half▲ 9.7%
Total assets€472,373-€442,642▼ 6.3%€419,589within the sector's middle half▼ 5.2%€400,532within the sector's middle half▼ 4.5%€378,672within the sector's middle half▼ 5.5%€358,079within the sector's middle half▼ 5.4%€361,782below the sector's middle half▲ 1.0%€317,640below the sector's middle half▼ 12.2%
Debt€360,045-€308,455▼ 14.3%€262,033▼ 15.0%€218,471▼ 16.6%€172,783▼ 20.9%€128,504▼ 25.6%€110,415▼ 14.1%€41,907▼ 62.0%
Working capital-€53,573--€41,244▲ 23.0%-€47,687below the sector's middle half▼ 15.6%-€45,305below the sector's middle half▲ 5.0%-€46,222below the sector's middle half▼ 2.0%-€47,328below the sector's middle half▼ 2.4%-€48,999below the sector's middle half▼ 3.5%-€11,805within the sector's middle half▲ 75.9%
Solvency23.8%-30.3%▲ 6.5pp37.6%within the sector's middle half▲ 7.2pp45.5%within the sector's middle half▲ 7.9pp54.4%within the sector's middle half▲ 8.9pp64.1%within the sector's middle half▲ 9.7pp69.5%within the sector's middle half▲ 5.4pp86.8%above the sector's middle half▲ 17.3pp
Current ratio0.21-0.11▼ 0.100.05below the sector's middle half▼ 0.050.09below the sector's middle half▲ 0.030.06below the sector's middle half▼ 0.020.06below the sector's middle half=0.36below the sector's middle half▲ 0.300.26below the sector's middle half▼ 0.10
Return on assets (ROA)4.6%-4.9%▲ 0.3pp5.6%within the sector's middle half▲ 0.6pp6.1%within the sector's middle half▲ 0.5pp6.3%within the sector's middle half▲ 0.2pp6.6%within the sector's middle half▲ 0.3pp6.0%within the sector's middle half▼ 0.6pp7.7%within the sector's middle half▲ 1.6pp
above
within
below
The sector band is the middle half of the companies in Activities auxiliary to financial services and insurance activities (NACE 66). 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 5% higher than in 2024. It is a recovery after the fall in 2024.
Turnover and EBIT margin are not published. The abbreviated or 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 €317,640
Fixed assets
€313,408 ▼ 6.2%
Current assets
€4,233 ▼ 84.7%
Equity and liabilities €317,640
Equity
€275,733 ▲ 9.7%
Debt
€41,907 ▼ 62.0%
Debt's share of the balance-sheet total falls from 30.5% to 13.2%. Equity is higher and debt is lower.
Key figures and ratios
ROE
8.8%▲
2024 · 8.7%
Debt ≤ 1 year
€16,037▼
2024 · €76,647
Debt > 1 year
€10,127▼
2024 · €18,092
Income taxes
€8,122▲
2024 · €7,264
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 | - | - | - | €52,979 | €7,411 |
| Mortgage mandates | €220,000 | €220,000 | €220,000 | €220,000 | €220,000 |
| Carrying value of the mortgaged assets | €396,312 | €375,586 | €354,860 | €334,134 | €313,408 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €20,726 | €20,726 | €20,726 | €20,726 | €20,726 | €20,726 | €20,726 | €20,726 | = |
| Other operating charges640/8 | - | - | - | €2,516 | €2,793 | €2,809 | €4,045 | €3,007 | ▼ 25.7% |
| Gross operating margin9900 | €60,454 | €59,996 | €58,913 | €59,615 | €58,681 | €59,800 | €57,525 | €58,144 | ▲ 1.1% |
| Operating profit (loss)9901 | €37,392 | €36,893 | €35,688 | €36,373 | €35,162 | €36,265 | €32,754 | €34,411 | ▲ 5.1% |
| Financial income75/76B | - | - | - | €26 | €33 | €58 | €0 | - | - |
| Recurring financial income75 | €9 | €13 | €19 | €26 | €33 | €58 | €0 | - | - |
| Financial charges65/66B | - | - | - | €3,751 | €3,438 | €4,741 | €3,696 | €1,924 | ▼ 48.0% |
| Recurring financial charges65 | €6,564 | €5,960 | €4,556 | €3,751 | €3,438 | €4,741 | €3,696 | €1,924 | ▼ 48.0% |
| Profit (loss) for the period before taxes9903 | €30,836 | €30,947 | €31,150 | €32,648 | €31,757 | €31,581 | €29,057 | €32,488 | ▲ 11.8% |
| Income taxes67/77 | €9,126 | €9,087 | €7,782 | €8,144 | €7,929 | €7,895 | €7,264 | €8,122 | ▲ 11.8% |
| Profit (loss) for the period9904 | €21,710 | €21,859 | €23,369 | €24,504 | €23,828 | €23,686 | €21,793 | €24,366 | ▲ 11.8% |
| Profit (loss) for the period to be appropriated9905 | €21,710 | €21,859 | €23,369 | €24,504 | €23,828 | €23,686 | €21,793 | €24,366 | ▲ 11.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €472,373 | €442,642 | €419,589 | €400,532 | €378,672 | €358,079 | €361,782 | €317,640 | ▼ 12.2% |
| Fixed assets21/28 | €458,491 | €437,765 | €417,038 | €396,312 | €375,586 | €354,860 | €334,134 | €313,408 | ▼ 6.2% |
| Tangible fixed assets22/27 | €458,491 | €437,765 | €417,038 | €396,312 | €375,586 | €354,860 | €334,134 | €313,408 | ▼ 6.2% |
| Land and buildings22 | - | - | - | €396,312 | €375,586 | €354,860 | €334,134 | €313,408 | ▼ 6.2% |
| Current assets29/58 | €13,882 | €4,877 | €2,550 | €4,219 | €3,086 | €3,219 | €27,648 | €4,233 | ▼ 84.7% |
| Amounts receivable within one year40/41 | €3,574 | €4,864 | €2,531 | €2,102 | €2,701 | €3,161 | €0 | €511 | - |
| Trade receivables40 | - | - | - | - | - | - | - | €511 | - |
| Other amounts receivable41 | - | - | - | €2,102 | €2,701 | €3,161 | €0 | - | - |
| Cash at bank and in hand54/58 | - | - | - | €2,091 | €351 | €0 | €27,648 | €3,722 | ▼ 86.5% |
| Deferred charges and accrued income490/1 | - | - | - | €26 | €33 | €58 | €0 | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €472,373 | €442,642 | €419,589 | €400,532 | €378,672 | €358,079 | €361,782 | €317,640 | ▼ 12.2% |
| Equity10/15 | €112,328 | €134,187 | €157,556 | €182,060 | €205,888 | €229,574 | €251,367 | €275,733 | ▲ 9.7% |
| Contributions10/11 | €18,550 | €18,550 | - | €18,550 | €18,550 | €18,550 | €18,550 | €18,550 | = |
| Reserves13 | €93,778 | €115,637 | €139,006 | €163,510 | €187,338 | €211,024 | €232,817 | €257,183 | ▲ 10.5% |
| Non-distributable reserves130/1 | - | - | - | €1,855 | €0 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,855 | €0 | - | - | - | - |
| Distributable reserves133 | - | - | - | €161,655 | €187,338 | €211,024 | €232,817 | €257,183 | ▲ 10.5% |
| Amounts payable17/49 | €360,045 | €308,455 | €262,033 | €218,471 | €172,783 | €128,504 | €110,415 | €41,907 | ▼ 62.0% |
| Amounts payable after more than one year17 | €291,541 | €248,677 | €204,071 | €158,647 | €113,176 | €67,657 | €18,092 | €10,127 | ▼ 44.0% |
| Financial debts170/4 | - | - | - | €158,647 | €113,176 | €67,657 | €7,411 | €0 | ▼ 100% |
| Other amounts payable178/9 | - | - | - | - | - | - | €10,681 | €10,127 | ▼ 5.2% |
| Amounts payable within one year42/48 | €67,456 | €46,121 | €50,237 | €49,524 | €49,307 | €50,547 | €76,647 | €16,037 | ▼ 79.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €45,424 | €45,471 | €45,519 | €45,567 | €7,411 | ▼ 83.7% |
| Financial debts43 | - | - | - | €1,759 | €1,759 | €3,084 | €29,419 | €1,787 | ▼ 93.9% |
| Credit institutions430/8 | - | - | - | €1,759 | €1,759 | €3,084 | €29,419 | €1,787 | ▼ 93.9% |
| Trade debts44 | - | - | €368 | €431 | €0 | €115 | €501 | €453 | ▼ 9.6% |
| Suppliers440/4 | - | - | - | €431 | €0 | €115 | €501 | €453 | ▼ 9.6% |
| Taxes, remuneration and social security45 | - | - | - | €1,911 | €2,078 | €1,829 | €1,160 | €1,386 | ▲ 19.5% |
| Taxes450/3 | - | - | - | €1,911 | €2,078 | €1,829 | €1,160 | €1,386 | ▲ 19.5% |
| Other amounts payable47/48 | - | - | - | - | - | - | - | €5,000 | - |
| Accrued charges and deferred income492/3 | - | - | - | €10,300 | €10,300 | €10,300 | €15,676 | €15,743 | ▲ 0.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €21,710 | €21,859 | €23,369 | €24,504 | €23,828 | €23,686 | €21,793 | €24,366 | ▲ 11.8% |
| + Depreciation and write-downs630 | €20,726 | €20,726 | €20,726 | €20,726 | €20,726 | €20,726 | €20,726 | €20,726 | = |
| Operating cash flow (approximation) | €42,436 | €42,585 | €44,095 | €45,231 | €44,554 | €44,412 | €42,519 | €45,092 | ▲ 6.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | - | - | - | -€1,740 | -€351 | €27,648 | -€23,926 | - |
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 15 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 31-07-2026 | 2026-00367958 | |
| 31-12-2024 | abbreviated format | 05-08-2025 | 2025-00359819 | |
| 31-12-2023 | micro format | 22-07-2024 | 2024-00269618 | |
| 31-12-2022 | micro format | 28-07-2023 | 2023-00299765 | |
| 31-12-2021 | micro format | 30-08-2022 | 2022-20415212 | |
| 31-12-2020 | micro format | 22-07-2021 | 2021-39400430 | |
| 31-12-2019 | micro format | 28-08-2020 | 2020-47600015 | |
| 31-12-2018 | micro format | 14-06-2019 | 2019-18800085 | |
| 31-12-2017 | micro format | 25-06-2018 | 2018-23100277 | |
| 31-12-2016 | abbreviated format | 19-06-2017 | 2017-18600224 |