Financials · financial year 2025, full format
Annual accounts 2025 filed on 28-07-2026 at the NBB all 32 filings
Equity
€1.0m▲ 3.9%
2024 · €1.0m
Net result
€39,604
2024 · -€235,443
Total assets
€7.9m▼ 17.1%
2024 · €9.5m
Solvency
13.3%▲ 2.7pp
2024 · 10.6%
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€291,062
▲ 125%
2025
20182025
Net result
€39,604
2025
middle half of the sector
20182025
Equity
€1.0m
▲ 3.9%
2025
middle half of the sector
20182025
Total assets
€7.9m
▼ 17.1%
2025
highest quarter of the sector
20182025
Debt
€6.8m
▼ 19.7%
2025
20182025
Working capital
-€2.9m
▼ 148%
2025
lowest quarter of the sector
20182025
Solvency
13.3%
▲ 2.7pp
2025
lowest quarter of the sector
20182025
Current ratio
0.06
▲ 0.01
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
0.5%
▲ 3.0pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
1.3
▼ 27.8%
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.1m-€0.1m▼ 15.6%€0.3m▲ 162%€0.5m▲ 90.2%€0.4m▼ 27.2%€0.4m▲ 18.4%€0.1m▼ 70.6%€0.3m▲ 125%
Net result€0.01m-€0.002m▼ 86.2%€0.09mwithin the sector's middle half▲ 50×€0.4mabove the sector's middle half▲ 329%€0.2mwithin the sector's middle half▼ 62.5%€0.05mwithin the sector's middle half▼ 66.3%-€0.2mbelow the sector's middle half€0.04mwithin the sector's middle half
Equity€0.5m-€0.5m▲ 0.3%€0.6mabove the sector's middle half▲ 17.3%€1.0mabove the sector's middle half▲ 63.1%€1.2mabove the sector's middle half▲ 14.5%€1.2mabove the sector's middle half▲ 4.3%€1.0mabove the sector's middle half▼ 18.9%€1.0mwithin the sector's middle half▲ 3.9%
Total assets€7.8m-€8.3m▲ 5.6%€8.6mabove the sector's middle half▲ 4.3%€10.2mabove the sector's middle half▲ 18.1%€10.2mabove the sector's middle half▲ 0.3%€9.7mabove the sector's middle half▼ 4.5%€9.5mabove the sector's middle half▼ 2.5%€7.9mabove the sector's middle half▼ 17.1%
Debt€7.3m-€7.7m▲ 6.0%€8.0m▲ 3.4%€9.1m▲ 14.5%€9.0m▼ 1.9%€8.5m▼ 5.7%€8.4m▼ 0.1%€6.8m▼ 19.7%
Working capital-€0.4m--€0.4m▼ 5.3%-€0.8mbelow the sector's middle half▼ 73.6%-€1.9mbelow the sector's middle half▼ 146%-€1.0mbelow the sector's middle half▲ 49.5%-€1.1mbelow the sector's middle half▼ 9.4%-€1.2mbelow the sector's middle half▼ 12.8%-€2.9mbelow the sector's middle half▼ 148%
Solvency6.9%-6.6%▼ 0.3pp7.4%below the sector's middle half▲ 0.8pp10.3%below the sector's middle half▲ 2.8pp11.7%below the sector's middle half▲ 1.5pp12.8%below the sector's middle half▲ 1.1pp10.6%below the sector's middle half▼ 2.1pp13.3%below the sector's middle half▲ 2.7pp
Current ratio0.66-0.62▼ 0.050.49below the sector's middle half▼ 0.130.04below the sector's middle half▼ 0.450.15below the sector's middle half▲ 0.120.06below the sector's middle half▼ 0.090.05below the sector's middle half▼ 0.020.06below the sector's middle half▲ 0.01
Return on assets (ROA)0.2%-0.0%▼ 0.2pp1.1%below the sector's middle half▲ 1.1pp4.0%within the sector's middle half▲ 2.9pp1.5%below the sector's middle half▼ 2.5pp0.5%below the sector's middle half▼ 1.0pp-2.5%below the sector's middle half▼ 3.0pp0.5%below the sector's middle half▲ 3.0pp
Staff (FTE)0.8-0.8=0.8below the sector's middle half=0.8below the sector's middle half=0.8below the sector's middle half=1.6below the sector's middle half▲ 100%1.8within the sector's middle half▲ 12.5%1.3below the sector's middle half▼ 27.8%
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 125% higher than in 2024. It is a recovery after the fall in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €7.9m
Fixed assets
€7.7m ▼ 18.4%
Current assets
€171,375 ▲ 181%
Equity and liabilities €7.9m
Equity
€1.0m ▲ 3.9%
Provisions
€41,230 ▼ 5.8%
Debt
€6.8m ▼ 19.7%
Debt's share of the balance-sheet total falls from 88.9% to 86.1%. Equity is higher and debt is lower.
Key figures and ratios
ROE
3.8%▲
2024 · -23.3%
Debt ≤ 1 year
€3.1m▲
2024 · €1.2m
Debt > 1 year
€3.6m▼
2024 · €7.2m
Income taxes
€244▼
2024 · €524
Staff costs
€94,383▼
2024 · €102,038
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-12-2021 | 30-12-2022 | 30-12-2023 | 30-12-2024 | 30-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 2 | 2 | 1 |
| full-time | - | - | 1 | 1 | - |
| part-time | 1 | 1 | 1 | 1 | 1 |
| in full-time equivalents | 0.8 | 0.8 | 1.8 | 1.8 | 0.8 |
| Average over the year, in full-time equivalents | 0.8 | 0.8 | 1.6 | 1.8 | 1.3 |
| On a permanent contract | 1 | 1 | 2 | 2 | 1 |
| Joined | - | - | 1 | - | - |
| Left | - | - | 0 | - | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 30-12-2021 | 30-12-2022 | 30-12-2023 | 30-12-2024 | 30-12-2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €7.7m | €8.3m | €7.8m | €7.6m | €3.9m |
| Mortgages, amount registered | - | €9.6m | €9.3m | €9.0m | €7.6m |
| Carrying value of the mortgaged assets | - | €9.6m | €9.3m | €9.0m | €7.6m |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-12-2021 | 30-12-2022 | 30-12-2023 | 30-12-2024 | 30-12-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €4.7m | €720,867 | €239,401 | €395,895 | €751,137 |
| Financial fixed assets | €120 | - | - | - | - |
| Depreciation and write-downs of the year | €582,804 | €660,235 | €598,335 | €618,206 | €568,472 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 to 2024 · 2 entries · €24,636 awarded · €24,636 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €0 | €24,636 |
| 2023 | 1 | €24,636 | €0 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0.3m | €0.2m | - | €19 | €0.1m | ▲ 7,769× |
| Remuneration, social security and pensions62 | - | - | - | €0.06m | €0.06m | €0.09m | €0.1m | €0.09m | ▼ 7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.4m | €0.5m | €0.6m | €0.6m | €0.7m | €0.6m | €0.6m | €0.6m | ▼ 8.0% |
| Other operating charges640/8 | - | - | - | €0.04m | €0.04m | €0.06m | €0.07m | €0.06m | ▼ 4.2% |
| Non-recurring operating charges66A | - | - | - | - | - | - | - | €0.07m | - |
| Gross operating margin9900 | €0.6m | €0.6m | €0.9m | €1.2m | €1.1m | €1.2m | €0.9m | €1.1m | ▲ 18.6% |
| Operating profit (loss)9901 | €0.1m | €0.1m | €0.3m | €0.5m | €0.4m | €0.4m | €0.1m | €0.3m | ▲ 125% |
| Financial income75/76B | - | - | - | €0.002m | - | €4 | - | €84 | - |
| Recurring financial income75 | - | - | €306 | €0.002m | - | €4 | - | €84 | - |
| Financial charges65/66B | - | - | - | €0.1m | €0.1m | €0.3m | €0.4m | €0.3m | ▼ 30.8% |
| Recurring financial charges65 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.3m | €0.4m | €0.3m | ▼ 30.8% |
| Profit (loss) for the period before taxes9903 | €0.02m | €0.005m | €0.1m | €0.4m | €0.2m | €0.09m | -€0.2m | €0.04m | - |
| Transfer from deferred taxes780 | - | - | - | - | €0.008m | €0.003m | €0.003m | €0.003m | = |
| Transfer to deferred taxes680 | - | - | - | - | €0.06m | - | - | - | - |
| Income taxes67/77 | €0.009m | €0.003m | €0.04m | €75 | €0.02m | €0.04m | €0.001m | €244 | ▼ 53.4% |
| Profit (loss) for the period9904 | €0.01m | €0.002m | €0.09m | €0.4m | €0.2m | €0.05m | -€0.2m | €0.04m | - |
| Transfer from tax-exempt reserves789 | - | - | - | - | €0.02m | €0.008m | €0.008m | €0.008m | = |
| Transfer to tax-exempt reserves689 | - | - | - | - | €0.2m | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €0.01m | €0.002m | €0.09m | €0.4m | €0.005m | €0.06m | -€0.2m | €0.05m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €7.8m | €8.3m | €8.6m | €10.2m | €10.2m | €9.7m | €9.5m | €7.9m | ▼ 17.1% |
| Fixed assets21/28 | €7.0m | €7.5m | €7.9m | €10.1m | €10.0m | €9.7m | €9.4m | €7.7m | ▼ 18.4% |
| Tangible fixed assets22/27 | €5.7m | €6.2m | €6.6m | €9.7m | €9.7m | €9.3m | €9.1m | €7.7m | ▼ 15.2% |
| Land and buildings22 | - | - | - | €9.7m | €9.6m | €9.3m | €9.0m | €7.6m | ▼ 15.1% |
| Plant, machinery and equipment23 | - | - | - | €0.008m | €0.01m | €0.01m | €0.008m | €0.005m | ▼ 45.1% |
| Furniture and vehicles24 | - | - | - | €0.02m | €0.02m | €0.01m | €0.04m | €0.03m | ▼ 21.8% |
| Financial fixed assets28 | €1.3m | €1.3m | €1.3m | €0.4m | €0.4m | €0.4m | €0.4m | €0.02m | ▼ 95.4% |
| Current assets29/58 | €0.8m | €0.7m | €0.7m | €0.07m | €0.2m | €0.07m | €0.06m | €0.2m | ▲ 181% |
| Amounts receivable within one year40/41 | €0.6m | €0.7m | €0.7m | - | €429 | €423 | - | - | - |
| Other amounts receivable41 | - | - | - | - | €429 | €423 | - | - | - |
| Cash at bank and in hand54/58 | €0.2m | €0.02m | €0.01m | €0.03m | €0.1m | €0.04m | €0.02m | €0.2m | ▲ 640% |
| Deferred charges and accrued income490/1 | - | - | - | €0.04m | €0.04m | €0.04m | €0.04m | €0.003m | ▼ 92.6% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €7.8m | €8.3m | €8.6m | €10.2m | €10.2m | €9.7m | €9.5m | €7.9m | ▼ 17.1% |
| Equity10/15 | €0.5m | €0.5m | €0.6m | €1.0m | €1.2m | €1.2m | €1.0m | €1.0m | ▲ 3.9% |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Capital10 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Issued capital100 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Contributions outside capital11 | - | - | - | €9 | €9 | €9 | €9 | €9 | = |
| Share premium1100/10 | - | - | - | €9 | €9 | €9 | €9 | €9 | = |
| Reserves13 | €0.4m | €0.4m | €0.5m | €0.9m | €1.1m | €1.1m | €0.9m | €0.9m | ▲ 4.6% |
| Non-distributable reserves130/1 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Legal reserve130 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Tax-exempt reserves132 | - | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 5.8% |
| Distributable reserves133 | - | - | - | €0.9m | €0.9m | €0.9m | €0.7m | €0.8m | ▲ 6.5% |
| Provisions and deferred taxes16 | - | - | - | - | €0.05m | €0.05m | €0.04m | €0.04m | ▼ 5.8% |
| Deferred taxes168 | - | - | - | - | €0.05m | €0.05m | €0.04m | €0.04m | ▼ 5.8% |
| Amounts payable17/49 | €7.3m | €7.7m | €8.0m | €9.1m | €9.0m | €8.5m | €8.4m | €6.8m | ▼ 19.7% |
| Amounts payable after more than one year17 | €6.0m | €6.5m | €6.5m | €7.1m | €7.8m | €7.3m | €7.2m | €3.6m | ▼ 49.0% |
| Financial debts170/4 | - | - | - | €7.1m | €7.8m | €7.3m | €7.2m | €3.6m | ▼ 49.0% |
| Amounts payable within one year42/48 | €1.3m | €1.2m | €1.5m | €2.0m | €1.1m | €1.1m | €1.2m | €3.1m | ▲ 149% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.5m | €0.5m | €0.4m | €0.5m | €0.3m | ▼ 40.5% |
| Trade debts44 | €0.2m | €0.04m | €0.04m | €0.2m | €0.02m | €0.03m | €0.03m | €0.03m | ▼ 19.6% |
| Suppliers440/4 | - | - | - | €0.2m | €0.02m | €0.03m | €0.03m | €0.03m | ▼ 19.6% |
| Taxes, remuneration and social security45 | - | - | - | €0.007m | €0.03m | €0.05m | €0.01m | €0.01m | ▼ 2.1% |
| Taxes450/3 | - | - | - | €75 | €0.02m | €0.04m | €0.001m | €245 | ▼ 53.2% |
| Remuneration and social security454/9 | - | - | - | €0.006m | €0.007m | €0.01m | €0.01m | €0.01m | = |
| Other amounts payable47/48 | - | - | - | €1.2m | €0.6m | €0.6m | €0.7m | €2.8m | ▲ 286% |
| Accrued charges and deferred income492/3 | - | - | - | €0.02m | €0.02m | €0.02m | €0.04m | €0.02m | ▼ 49.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.01m | €0.002m | €0.09m | €0.4m | €0.2m | €0.05m | -€0.2m | €0.04m | - |
| + Depreciation and write-downs630 | €0.4m | €0.5m | €0.6m | €0.6m | €0.7m | €0.6m | €0.6m | €0.6m | ▼ 8.0% |
| Operating cash flow (approximation) | €0.4m | €0.5m | €0.7m | €1.0m | €0.8m | €0.6m | €0.4m | €0.6m | ▲ 58.9% |
| Investment in fixed assets (approximation) | - | -€1.0m | -€0.9m | -€2.8m | -€0.6m | -€0.2m | -€0.4m | €1.2m | - |
| Change in cash | - | -€0.2m | -€0.006m | €0.01m | €0.1m | -€0.09m | -€0.01m | €0.1m | - |
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 32 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-12-2025 | full format | 28-07-2026 | 2026-00350972 | |
| 30-12-2024 | abbreviated format | 25-07-2025 | 2025-00312949 | |
| 30-12-2023 | abbreviated format | 05-08-2024 | 2024-00331673 | |
| 30-12-2022 | abbreviated format | 28-07-2023 | 2023-00305283 | |
| 30-12-2021 | abbreviated format | 17-08-2022 | 2022-20298945 | |
| 30-12-2020 | abbreviated format | 21-08-2021 | 2021-53100343 | |
| 30-12-2019 | abbreviated format | 31-07-2020 | 2020-37500449 | |
| 30-12-2018 | abbreviated format | 29-07-2019 | 2019-40200159 | |
| 30-12-2017 | abbreviated format | 30-07-2018 | 2018-40700483 | |
| 30-12-2016 | abbreviated format | 24-07-2017 | 2017-34900425 |