Financials · financial year 2025, micro format
Annual accounts 2025 filed on 19-05-2026 PDF all 7 filings
Equity
€232,608▲ 10.1%
2024 · €211,264
Net result
€21,344▼ 49.9%
2024 · €42,585
Total assets
€670,695▼ 4.1%
2024 · €699,194
Solvency
34.7%▲ 4.5pp
2024 · 30.2%
Multi-year overview
2020 to 2025, 6 financial yearsTurnover
€157,608
▼ 8.7%
2025
20202025
Operating result
€34,323
▼ 46.5%
2025
20202025
Net result
€21,344
▼ 49.9%
2025
middle half of the sector
20202025
Equity
€232,608
▲ 10.1%
2025
middle half of the sector
20202025
Total assets
€670,695
▼ 4.1%
2025
middle half of the sector
20202025
Debt
€438,087
▼ 10.2%
2025
20202025
Working capital
€31,482
▲ 183%
2025
middle half of the sector
20202025
Solvency
34.7%
▲ 4.5pp
2025
middle half of the sector
20202025
Current ratio
1.55
▲ 0.38
2025
middle half of the sector
20202025
Return on assets (ROA)
3.2%
▼ 2.9pp
2025
middle half of the sector
20202025
Staff (FTE)
no figure
2025
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Turnover€120,672-€117,679▼ 2.5%€182,403▲ 55.0%€162,662▼ 10.8%€172,697▲ 6.2%€157,608▼ 8.7%
Operating result€68,765-€33,397▼ 51.4%€69,217▲ 107%-€2,028€64,108€34,323▼ 46.5%
Net result€54,518within the sector's middle half-€22,224within the sector's middle half▼ 59.2%€47,829within the sector's middle half▲ 115%-€3,032below the sector's middle half€42,585within the sector's middle half€21,344within the sector's middle half▼ 49.9%
Equity€102,057within the sector's middle half-€124,281within the sector's middle half▲ 21.8%€171,711within the sector's middle half▲ 38.2%€168,679within the sector's middle half▼ 1.8%€211,264within the sector's middle half▲ 25.2%€232,608within the sector's middle half▲ 10.1%
Total assets€129,232within the sector's middle half-€713,289within the sector's middle half▲ 452%€739,173within the sector's middle half▲ 3.6%€685,444within the sector's middle half▼ 7.3%€699,194within the sector's middle half▲ 2.0%€670,695within the sector's middle half▼ 4.1%
Debt€27,175-€589,008▲ 22×€567,462▼ 3.7%€516,765▼ 8.9%€487,930▼ 5.6%€438,087▼ 10.2%
Working capital€101,342within the sector's middle half--€27,437within the sector's middle half€9,040within the sector's middle half-€12,643within the sector's middle half€11,144within the sector's middle half€31,482within the sector's middle half▲ 183%
Solvency79.0%above the sector's middle half-17.4%below the sector's middle half▼ 61.5pp23.2%below the sector's middle half▲ 5.8pp24.6%within the sector's middle half▲ 1.4pp30.2%within the sector's middle half▲ 5.6pp34.7%within the sector's middle half▲ 4.5pp
Current ratio4.73above the sector's middle half-0.45below the sector's middle half▼ 4.281.13within the sector's middle half▲ 0.680.78within the sector's middle half▼ 0.361.17within the sector's middle half▲ 0.391.55within the sector's middle half▲ 0.38
Return on assets (ROA)42.2%above the sector's middle half-3.1%within the sector's middle half▼ 39.1pp6.5%within the sector's middle half▲ 3.4pp-0.4%below the sector's middle half▼ 6.9pp6.1%within the sector's middle half▲ 6.5pp3.2%within the sector's middle half▼ 2.9pp
Staff (FTE)11=
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 46% lower than in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €670,695
Fixed assets
€582,045 ▼ 6.3%
Current assets
€88,650 ▲ 13.3%
Equity and liabilities €670,695
Equity
€232,608 ▲ 10.1%
Debt
€438,087 ▼ 10.2%
Debt's share of the balance-sheet total falls from 69.8% to 65.3%. Equity is higher and debt is lower.
Key figures and ratios
ROE
9.2%▼
2024 · 20.2%
Debt ≤ 1 year
€57,168▼
2024 · €67,069
Debt > 1 year
€380,919▼
2024 · €420,861
Income taxes
€8,623▼
2024 · €16,803
Staff costs
€44,423▲
2024 · €40,221
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 |
|---|---|---|
| Employees at the balance-sheet date | 1 | 1 |
| full-time | 1 | 1 |
| in full-time equivalents | 1 | 1 |
| Average over the year, in full-time equivalents | 1 | 1 |
Source: social balance sheet in the 2021 to 2022 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €698,691 | €6,454 | €15,980 | €20,062 | €3,379 |
| Depreciation and write-downs of the year | €8,899 | €35,117 | €36,082 | €40,825 | €42,480 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Turnover70 | €120,672 | €117,679 | €182,403 | €162,662 | €172,697 | €157,608 | ▼ 8.7% |
| Non-recurring operating income76A | - | - | - | - | €168 | €165 | ▼ 1.8% |
| Goods, raw materials, services and sundry goods60/61 | €6,197 | €29,783 | €32,469 | €62,341 | €27,711 | €48,459 | ▲ 74.9% |
| Remuneration, social security and pensions62 | €45,600 | €45,600 | €45,600 | €66,152 | €40,221 | €44,423 | ▲ 10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €110 | €8,899 | €35,117 | €36,082 | €40,825 | €42,480 | ▲ 4.1% |
| Other operating charges640/8 | - | - | - | €115 | - | - | - |
| Gross operating margin9900 | €114,475 | €87,896 | €149,934 | €100,321 | €145,154 | €121,226 | ▼ 16.5% |
| Operating profit (loss)9901 | €68,765 | €33,397 | €69,217 | -€2,028 | €64,108 | €34,323 | ▼ 46.5% |
| Financial charges65/66B | €150 | €3,703 | €5,070 | €5,120 | €4,720 | €4,356 | ▼ 7.7% |
| Recurring financial charges65 | €150 | €3,703 | €5,070 | €5,120 | €4,720 | €4,356 | ▼ 7.7% |
| Profit (loss) for the period before taxes9903 | €68,615 | €29,694 | €64,147 | -€7,148 | €59,388 | €29,967 | ▼ 49.5% |
| Income taxes67/77 | €14,097 | €7,470 | €16,318 | -€4,116 | €16,803 | €8,623 | ▼ 48.7% |
| Profit (loss) for the period9904 | €54,518 | €22,224 | €47,829 | -€3,032 | €42,585 | €21,344 | ▼ 49.9% |
| Profit (loss) for the period to be appropriated9905 | €54,518 | €22,224 | €47,829 | -€3,032 | €42,585 | €21,344 | ▼ 49.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €129,232 | €713,289 | €739,173 | €685,444 | €699,194 | €670,695 | ▼ 4.1% |
| Fixed assets21/28 | €715 | €690,508 | €661,845 | €641,744 | €620,981 | €582,045 | ▼ 6.3% |
| Tangible fixed assets22/27 | €715 | €690,508 | €661,845 | €641,744 | €620,981 | €582,045 | ▼ 6.3% |
| Land and buildings22 | - | €689,957 | €661,459 | €641,523 | €603,515 | €565,508 | ▼ 6.3% |
| Plant, machinery and equipment23 | €715 | €551 | €386 | €221 | €55 | €1,028 | ▲ 19× |
| Furniture and vehicles24 | - | - | - | - | €16,767 | €12,931 | ▼ 22.9% |
| Other tangible fixed assets26 | - | - | - | - | €644 | €2,578 | ▲ 300% |
| Current assets29/58 | €128,517 | €22,781 | €77,328 | €43,700 | €78,213 | €88,650 | ▲ 13.3% |
| Amounts receivable within one year40/41 | €1,323 | €6,149 | €7,248 | €21,926 | €20,644 | €29,611 | ▲ 43.4% |
| Trade receivables40 | - | - | - | €12,580 | - | €2,385 | - |
| Other amounts receivable41 | €1,323 | €6,149 | €7,248 | €9,346 | €20,644 | €27,226 | ▲ 31.9% |
| Cash at bank and in hand54/58 | €127,194 | €16,632 | €70,080 | €21,774 | €57,569 | €58,929 | ▲ 2.4% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €110 | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €129,232 | €713,289 | €739,173 | €685,444 | €699,194 | €670,695 | ▼ 4.1% |
| Equity10/15 | €102,057 | €124,281 | €171,711 | €168,679 | €211,264 | €232,608 | ▲ 10.1% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | €18,600 | - | - | - | - | - | - |
| Issued capital100 | €18,600 | - | - | - | - | - | - |
| Contributions outside capital11 | - | - | - | €18,600 | €18,600 | €18,600 | = |
| Other1109/19 | - | - | - | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €83,457 | €105,681 | €153,111 | €153,111 | €153,111 | €153,111 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | €1,860 | - | - | - | - | - | - |
| Other1319 | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | €81,597 | €103,821 | €151,251 | €151,251 | €151,251 | €151,251 | = |
| Profit (loss) carried forward14 | - | - | - | -€3,032 | €39,553 | €60,897 | ▲ 54.0% |
| Amounts payable17/49 | €27,175 | €589,008 | €567,462 | €516,765 | €487,930 | €438,087 | ▼ 10.2% |
| Amounts payable after more than one year17 | - | €538,790 | €499,174 | €460,422 | €420,861 | €380,919 | ▼ 9.5% |
| Financial debts170/4 | - | €538,790 | €499,174 | €460,422 | €420,861 | €380,919 | ▼ 9.5% |
| Amounts payable within one year42/48 | €27,175 | €50,218 | €68,288 | €56,343 | €67,069 | €57,168 | ▼ 14.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €39,184 | €39,184 | €39,184 | = |
| Financial debts43 | - | €38,812 | €39,616 | - | - | - | - |
| Credit institutions430/8 | - | €38,812 | €39,616 | - | - | - | - |
| Trade debts44 | - | €2,152 | €1,575 | €12,079 | €3,895 | €2,480 | ▼ 36.3% |
| Suppliers440/4 | - | €2,152 | €1,575 | €12,079 | €3,895 | €2,480 | ▼ 36.3% |
| Taxes, remuneration and social security45 | €27,175 | €9,254 | €27,097 | €5,080 | €23,990 | €15,504 | ▼ 35.4% |
| Taxes450/3 | €27,175 | €9,254 | €25,694 | €4,129 | €23,039 | €14,553 | ▼ 36.8% |
| Remuneration and social security454/9 | - | - | €1,403 | €951 | €951 | €951 | = |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €54,518 | €22,224 | €47,829 | -€3,032 | €42,585 | €21,344 | ▼ 49.9% |
| + Depreciation and write-downs630 | €110 | €8,899 | €35,117 | €36,082 | €40,825 | €42,480 | ▲ 4.1% |
| Operating cash flow (approximation) | €54,628 | €31,123 | €82,946 | €33,050 | €83,410 | €63,824 | ▼ 23.5% |
| Investment in fixed assets (approximation) | - | -€698,692 | -€6,454 | -€15,981 | -€20,062 | -€3,544 | ▲ 82.3% |
| Change in cash | - | -€110,562 | €53,448 | -€48,306 | €35,795 | €1,360 | ▼ 96.2% |
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 (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 19-05-2026 | 2026-00117523 | |
| 31-12-2024 | micro format | 10-04-2025 | 2025-00067006 | |
| 31-12-2023 | micro format | 22-05-2024 | 2024-00092394 | |
| 31-12-2022 | micro format | 20-06-2023 | 2023-00139107 | |
| 31-12-2021 | micro format | 28-06-2022 | 2022-20098215 | |
| 31-12-2020 | micro format | 21-06-2021 | 2021-22500165 | |
| 31-12-2019 | micro format | 23-06-2020 | 2020-19100152 |