Financials · financial year 2025, micro format
Annual accounts 2025 filed on 23-07-2026 at the NBB all 6 filings
Equity
€86,252▲ 46.8%
2024 · €58,746
Net result
€27,506▲ 15×
2024 · €1,864
Total assets
€158,961▲ 19.3%
2024 · €133,256
Solvency
54.3%▲ 10.2pp
2024 · 44.1%
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
€39,182
▲ 14×
2025
20202025
Net result
€27,506
▲ 15×
2025
middle half of the sector
20202025
Equity
€86,252
▲ 46.8%
2025
middle half of the sector
20202025
Total assets
€158,961
▲ 19.3%
2025
middle half of the sector
20202025
Debt
€72,709
▼ 2.4%
2025
20202025
Working capital
€85,072
▲ 48.8%
2025
middle half of the sector
20202025
Solvency
54.3%
▲ 10.2pp
2025
middle half of the sector
20202025
Current ratio
2.18
▲ 0.41
2025
middle half of the sector
20202025
Return on assets (ROA)
17.3%
▲ 15.9pp
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€35,984--€24,584€59,871€1,876▼ 96.9%€2,881▲ 53.5%€39,182▲ 14×
Net result€25,996within the sector's middle half--€24,729below the sector's middle half€52,511within the sector's middle half€1,103below the sector's middle half▼ 97.9%€1,864below the sector's middle half▲ 69.0%€27,506within the sector's middle half▲ 15×
Equity€27,996below the sector's middle half-€3,267below the sector's middle half▼ 88.3%€55,778within the sector's middle half▲ 17×€56,881within the sector's middle half▲ 2.0%€58,746within the sector's middle half▲ 3.3%€86,252within the sector's middle half▲ 46.8%
Total assets€42,345below the sector's middle half-€33,565below the sector's middle half▼ 20.7%€72,076below the sector's middle half▲ 115%€86,466below the sector's middle half▲ 20.0%€133,256within the sector's middle half▲ 54.1%€158,961within the sector's middle half▲ 19.3%
Debt€14,349-€30,298▲ 111%€16,298▼ 46.2%€29,585▲ 81.5%€74,511▲ 152%€72,709▼ 2.4%
Working capital€25,030within the sector's middle half-€1,071within the sector's middle half▼ 95.7%€54,353within the sector's middle half▲ 51×€56,226within the sector's middle half▲ 3.4%€57,181within the sector's middle half▲ 1.7%€85,072within the sector's middle half▲ 48.8%
Solvency66.1%within the sector's middle half-9.7%below the sector's middle half▼ 56.4pp77.4%above the sector's middle half▲ 67.7pp65.8%within the sector's middle half▼ 11.6pp44.1%within the sector's middle half▼ 21.7pp54.3%within the sector's middle half▲ 10.2pp
Current ratio2.81within the sector's middle half-1.04within the sector's middle half▼ 1.774.44above the sector's middle half▲ 3.402.93within the sector's middle half▼ 1.511.77within the sector's middle half▼ 1.162.18within the sector's middle half▲ 0.41
Return on assets (ROA)61.4%above the sector's middle half--73.7%below the sector's middle half▼ 135.1pp72.9%above the sector's middle half▲ 146.5pp1.3%within the sector's middle half▼ 71.6pp1.4%within the sector's middle half▲ 0.1pp17.3%within the sector's middle half▲ 15.9pp
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 nearly 14 times that of 2024. It is the second rise in a row, after the fall in 2023.
Turnover and EBIT margin are not published. The 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 €158,961
Fixed assets
€1,680 ▼ 18.6%
Current assets
€157,281 ▲ 19.9%
Equity and liabilities €158,961
Equity
€86,252 ▲ 46.8%
Debt
€72,709 ▼ 2.4%
Debt's share of the balance-sheet total falls from 55.9% to 45.7%. Equity is higher and debt is lower.
Key figures and ratios
ROE
31.9%▲
2024 · 3.2%
Debt ≤ 1 year
€72,209▼
2024 · €74,011
Income taxes
€11,656▲
2024 · €1,016
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | - | €1,680 | - |
| Depreciation and write-downs of the year | €770 | €770 | €770 | €770 | €385 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €385 | €770 | €770 | €770 | €770 | €385 | ▼ 50.0% |
| Other operating charges640/8 | - | €504 | €507 | €557 | €569 | €585 | ▲ 2.9% |
| Gross operating margin9900 | €37,592 | -€23,310 | €61,148 | €3,203 | €4,220 | €40,152 | ▲ 851% |
| Operating profit (loss)9901 | €35,984 | -€24,584 | €59,871 | €1,876 | €2,881 | €39,182 | ▲ 14× |
| Financial charges65/66B | - | - | €109 | €207 | - | €19 | - |
| Recurring financial charges65 | €58 | - | €109 | €207 | - | €19 | - |
| Profit (loss) for the period before taxes9903 | €35,926 | -€24,584 | €59,761 | €1,669 | €2,881 | €39,162 | ▲ 14× |
| Income taxes67/77 | €9,930 | €145 | €7,250 | €566 | €1,016 | €11,656 | ▲ 11× |
| Profit (loss) for the period9904 | €25,996 | -€24,729 | €52,511 | €1,103 | €1,864 | €27,506 | ▲ 15× |
| Profit (loss) for the period to be appropriated9905 | €25,996 | -€24,729 | €52,511 | €1,103 | €1,864 | €27,506 | ▲ 15× |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €42,345 | €33,565 | €72,076 | €86,466 | €133,256 | €158,961 | ▲ 19.3% |
| Fixed assets21/28 | €3,466 | €2,696 | €1,925 | €1,155 | €2,065 | €1,680 | ▼ 18.6% |
| Tangible fixed assets22/27 | €3,466 | €2,696 | €1,925 | €1,155 | €2,065 | €1,680 | ▼ 18.6% |
| Furniture and vehicles24 | - | €2,696 | €1,925 | €1,155 | €385 | - | - |
| Other tangible fixed assets26 | - | - | - | - | €1,680 | €1,680 | = |
| Current assets29/58 | €38,879 | €30,869 | €70,151 | €85,311 | €131,191 | €157,281 | ▲ 19.9% |
| Amounts receivable within one year40/41 | €32,800 | €11,480 | €64,824 | €49,516 | €101,088 | €153,959 | ▲ 52.3% |
| Trade receivables40 | - | €11,480 | €55,260 | €49,516 | - | €4,954 | - |
| Other amounts receivable41 | - | - | €9,564 | - | €101,088 | €149,005 | ▲ 47.4% |
| Cash at bank and in hand54/58 | €6,079 | €19,389 | €5,326 | €35,795 | €30,103 | €3,322 | ▼ 89.0% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €42,345 | €33,565 | €72,076 | €86,466 | €133,256 | €158,961 | ▲ 19.3% |
| Equity10/15 | €27,996 | €3,267 | €55,778 | €56,881 | €58,746 | €86,252 | ▲ 46.8% |
| Contributions10/11 | - | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves13 | €25,900 | €25,900 | €52,900 | €53,900 | €55,700 | €83,100 | ▲ 49.2% |
| Distributable reserves133 | - | €25,900 | €52,900 | €53,900 | €55,700 | €83,100 | ▲ 49.2% |
| Profit (loss) carried forward14 | €96 | -€24,633 | €878 | €981 | €1,046 | €1,152 | ▲ 10.2% |
| Amounts payable17/49 | €14,349 | €30,298 | €16,298 | €29,585 | €74,511 | €72,709 | ▼ 2.4% |
| Amounts payable within one year42/48 | €13,849 | €29,798 | €15,798 | €29,085 | €74,011 | €72,209 | ▼ 2.4% |
| Trade debts44 | - | €10,628 | - | - | €51,983 | €24,618 | ▼ 52.6% |
| Suppliers440/4 | - | €10,628 | - | - | €51,983 | €24,618 | ▼ 52.6% |
| Taxes, remuneration and social security45 | - | €13,022 | €7,250 | €18,137 | €9,180 | €27,343 | ▲ 198% |
| Taxes450/3 | - | €9,522 | €7,250 | €14,637 | €5,680 | €23,843 | ▲ 320% |
| Remuneration and social security454/9 | - | €3,500 | - | €3,500 | €3,500 | €3,500 | = |
| Other amounts payable47/48 | - | €6,148 | €8,548 | €10,948 | €12,848 | €20,248 | ▲ 57.6% |
| Accrued charges and deferred income492/3 | - | €500 | €500 | €500 | €500 | €500 | = |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €25,996 | -€24,729 | €52,511 | €1,103 | €1,864 | €27,506 | ▲ 15× |
| + Depreciation and write-downs630 | €385 | €770 | €770 | €770 | €770 | €385 | ▼ 50.0% |
| Operating cash flow (approximation) | €26,381 | -€23,959 | €53,282 | €1,874 | €2,634 | €27,891 | ▲ 959% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€1,680 | €0 | - |
| Change in cash | - | €13,310 | -€14,063 | €30,469 | -€5,692 | -€26,781 | ▼ 371% |
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 | micro format | 23-07-2026 | 2026-00322309 | |
| 31-12-2024 | micro format | 30-06-2025 | 2025-00212452 | |
| 31-12-2023 | micro format | 29-07-2024 | 2024-00307324 | |
| 31-12-2022 | micro format | 13-08-2023 | 2023-00330937 | |
| 31-12-2021 | micro format | 11-08-2022 | 2022-20286334 | |
| 31-12-2020 | micro format | 25-06-2021 | 2021-25200456 |