Financials · financial year 2025, micro format
Annual accounts 2025 filed on 03-06-2026 PDF all 12 filings
Equity
€383,429▼ 8.3%
2024 · €418,223
Net result
€118,608▲ 91.9%
2024 · €61,821
Total assets
€604,385▲ 8.3%
2024 · €558,188
Solvency
63.4%▼ 11.5pp
2024 · 74.9%
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€66,459
▲ 545%
2025
20182025
Net result
€118,608
▲ 91.9%
2025
highest quarter of the sector
20182025
Equity
€383,429
▼ 8.3%
2025
highest quarter of the sector
20182025
Total assets
€604,385
▲ 8.3%
2025
middle half of the sector
20182025
Debt
€220,955
▲ 57.9%
2025
20182025
Working capital
-€63,827
▼ 111%
2025
lowest quarter of the sector
20182025
Solvency
63.4%
▼ 11.5pp
2025
middle half of the sector
20182025
Current ratio
0.50
▼ 0.23
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
19.6%
▲ 8.5pp
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€61,090-€55,895▼ 8.5%€37,379▼ 33.1%€38,274▲ 2.4%€26,101▼ 31.8%€51,352▲ 96.7%€10,303▼ 79.9%€66,459▲ 545%
Net result€33,645-€64,723▲ 92.4%€70,135above the sector's middle half▲ 8.4%€84,867above the sector's middle half▲ 21.0%€84,373above the sector's middle half▼ 0.6%€72,049above the sector's middle half▼ 14.6%€61,821within the sector's middle half▼ 14.2%€118,608above the sector's middle half▲ 91.9%
Equity€254,319-€292,502▲ 15.0%€297,879above the sector's middle half▲ 1.8%€341,146above the sector's middle half▲ 14.5%€377,636above the sector's middle half▲ 10.7%€419,675above the sector's middle half▲ 11.1%€418,223above the sector's middle half▼ 0.3%€383,429above the sector's middle half▼ 8.3%
Total assets€435,930-€439,884▲ 0.9%€469,934within the sector's middle half▲ 6.8%€461,952within the sector's middle half▼ 1.7%€509,388within the sector's middle half▲ 10.3%€485,705within the sector's middle half▼ 4.6%€558,188within the sector's middle half▲ 14.9%€604,385within the sector's middle half▲ 8.3%
Debt€181,611-€147,382▼ 18.8%€172,055▲ 16.7%€120,806▼ 29.8%€131,752▲ 9.1%€66,030▼ 49.9%€139,965▲ 112%€220,955▲ 57.9%
Working capital-€60,058--€71,202▼ 18.6%-€90,099below the sector's middle half▼ 26.5%-€64,966below the sector's middle half▲ 27.9%-€37,248below the sector's middle half▲ 42.7%-€12,441below the sector's middle half▲ 66.6%-€30,184below the sector's middle half▼ 143%-€63,827below the sector's middle half▼ 111%
Solvency58.3%-66.5%▲ 8.2pp63.4%within the sector's middle half▼ 3.1pp73.8%above the sector's middle half▲ 10.5pp74.1%above the sector's middle half▲ 0.3pp86.4%above the sector's middle half▲ 12.3pp74.9%within the sector's middle half▼ 11.5pp63.4%within the sector's middle half▼ 11.5pp
Current ratio0.23-0.08▼ 0.150.21below the sector's middle half▲ 0.140.18below the sector's middle half▼ 0.030.64below the sector's middle half▲ 0.460.77below the sector's middle half▲ 0.130.73below the sector's middle half▼ 0.050.50below the sector's middle half▼ 0.23
Return on assets (ROA)7.7%-14.7%▲ 7.0pp14.9%within the sector's middle half▲ 0.2pp18.4%within the sector's middle half▲ 3.4pp16.6%within the sector's middle half▼ 1.8pp14.8%within the sector's middle half▼ 1.7pp11.1%within the sector's middle half▼ 3.8pp19.6%within the sector's middle half▲ 8.5pp
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 nearly 6.5 times that of 2024 and the highest since 2018. It is a recovery after the fall in 2024.
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 €604,385
Fixed assets
€540,420 ▲ 13.0%
Current assets
€63,964 ▼ 20.2%
Equity and liabilities €604,385
Equity
€383,429 ▼ 8.3%
Debt
€220,955 ▲ 57.9%
Debt's share of the balance-sheet total rises from 25.1% to 36.6%. Equity is lower and debt is higher.
Key figures and ratios
ROE
30.9%▲
2024 · 14.8%
Debt ≤ 1 year
€127,792▲
2024 · €110,294
Debt > 1 year
€93,164▲
2024 · €29,642
Income taxes
€30,474▲
2024 · €11,314
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 | €23,555 | - | €5,990 | €40,980 | €168,089 |
| Depreciation and write-downs of the year | €4,727 | €4,761 | €5,359 | €6,178 | €14,193 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €14,568 | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €190 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €801 | €3,427 | €3,774 | €4,727 | €4,761 | €5,359 | €6,178 | €14,193 | ▲ 130% |
| Other operating charges640/8 | - | - | - | €1,906 | €1,977 | €1,947 | €1,418 | €1,549 | ▲ 9.3% |
| Non-recurring operating charges66A | - | - | - | €5,331 | - | - | - | - | - |
| Gross operating margin9900 | €65,532 | €60,705 | €44,451 | €50,427 | €32,840 | €58,657 | €17,899 | €82,201 | ▲ 359% |
| Operating profit (loss)9901 | €61,090 | €55,895 | €37,379 | €38,274 | €26,101 | €51,352 | €10,303 | €66,459 | ▲ 545% |
| Financial income75/76B | - | - | - | €67,818 | €78,900 | €53,077 | €67,578 | €88,508 | ▲ 31.0% |
| Recurring financial income75 | €2 | €36,247 | €53,750 | €67,818 | €78,900 | €53,077 | €67,578 | €88,508 | ▲ 31.0% |
| Financial charges65/66B | - | - | - | €2,557 | €3,243 | €4,308 | €4,746 | €5,885 | ▲ 24.0% |
| Recurring financial charges65 | €4,354 | €2,759 | €3,384 | €2,557 | €3,243 | €4,308 | €4,746 | €5,885 | ▲ 24.0% |
| Profit (loss) for the period before taxes9903 | €56,739 | €89,383 | €87,745 | €103,535 | €101,759 | €100,120 | €73,135 | €149,082 | ▲ 104% |
| Income taxes67/77 | €23,094 | €24,659 | €17,609 | €18,668 | €17,385 | €28,071 | €11,314 | €30,474 | ▲ 169% |
| Profit (loss) for the period9904 | €33,645 | €64,723 | €70,135 | €84,867 | €84,373 | €72,049 | €61,821 | €118,608 | ▲ 91.9% |
| Profit (loss) for the period to be appropriated9905 | €32,185 | €63,273 | €70,135 | €84,867 | €84,373 | €72,049 | €61,821 | €118,608 | ▲ 91.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €435,930 | €439,884 | €469,934 | €461,952 | €509,388 | €485,705 | €558,188 | €604,385 | ▲ 8.3% |
| Fixed assets21/28 | €418,203 | €434,040 | €445,667 | €447,406 | €442,645 | €443,276 | €478,078 | €540,420 | ▲ 13.0% |
| Tangible fixed assets22/27 | €3,486 | €19,322 | €30,950 | €32,689 | €27,927 | €28,559 | €63,361 | €125,703 | ▲ 98.4% |
| Land and buildings22 | - | - | - | €18,066 | €15,378 | €12,689 | €10,001 | €93,562 | ▲ 836% |
| Plant, machinery and equipment23 | - | - | - | - | - | - | €12,250 | €21,301 | ▲ 73.9% |
| Furniture and vehicles24 | - | - | - | €14,623 | €12,550 | €15,869 | €13,598 | €10,840 | ▼ 20.3% |
| Assets under construction and advance payments27 | - | - | - | - | - | - | €27,512 | - | - |
| Financial fixed assets28 | €414,717 | €414,717 | €414,717 | €414,717 | €414,717 | €414,717 | €414,717 | €414,717 | = |
| Current assets29/58 | €17,727 | €5,844 | €24,267 | €14,546 | €66,743 | €42,429 | €80,110 | €63,964 | ▼ 20.2% |
| Amounts receivable within one year40/41 | €1,134 | €1,176 | - | - | - | €3,220 | - | - | - |
| Other amounts receivable41 | - | - | - | - | - | €3,220 | - | - | - |
| Current investments50/53 | - | - | €23,500 | €11,000 | €65,000 | €28,111 | €65,930 | €59,373 | ▼ 9.9% |
| Cash at bank and in hand54/58 | €16,445 | €4,668 | €767 | €3,396 | €1,216 | €3,968 | €4,895 | €3,046 | ▼ 37.8% |
| Deferred charges and accrued income490/1 | - | - | - | €150 | €527 | €7,130 | €9,285 | €1,545 | ▼ 83.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €435,930 | €439,884 | €469,934 | €461,952 | €509,388 | €485,705 | €558,188 | €604,385 | ▲ 8.3% |
| Equity10/15 | €254,319 | €292,502 | €297,879 | €341,146 | €377,636 | €419,675 | €418,223 | €383,429 | ▼ 8.3% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €241,919 | €280,102 | €285,479 | €328,746 | €365,236 | €407,275 | €405,823 | €371,029 | ▼ 8.6% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €7,080 | €7,080 | €7,080 | €7,080 | €7,080 | = |
| Distributable reserves133 | - | - | - | €319,806 | €356,296 | €400,195 | €398,744 | €363,949 | ▼ 8.7% |
| Amounts payable17/49 | €181,611 | €147,382 | €172,055 | €120,806 | €131,752 | €66,030 | €139,965 | €220,955 | ▲ 57.9% |
| Amounts payable after more than one year17 | €103,826 | €70,336 | €57,689 | €41,294 | €27,761 | €11,160 | €29,642 | €93,164 | ▲ 214% |
| Financial debts170/4 | - | - | - | €41,294 | €27,761 | €11,160 | €29,642 | €93,164 | ▲ 214% |
| Amounts payable within one year42/48 | €77,785 | €77,046 | €114,366 | €79,512 | €103,991 | €54,870 | €110,294 | €127,792 | ▲ 15.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €19,366 | €13,533 | €2,187 | €11,219 | €11,652 | ▲ 3.9% |
| Financial debts43 | - | - | - | €842 | - | - | - | €431 | - |
| Credit institutions430/8 | - | - | - | €842 | - | - | - | €431 | - |
| Trade debts44 | €2,543 | €756 | €2,153 | €2,322 | €2,189 | €8,402 | €2,388 | €2,587 | ▲ 8.4% |
| Suppliers440/4 | - | - | - | €2,322 | €2,189 | €8,402 | €2,388 | €2,587 | ▲ 8.4% |
| Taxes, remuneration and social security45 | - | - | - | €10,007 | €10,348 | €2,602 | €8,030 | €9,940 | ▲ 23.8% |
| Taxes450/3 | - | - | - | €10,007 | €10,348 | €2,602 | €4,660 | €6,570 | ▲ 41.0% |
| Remuneration and social security454/9 | - | - | - | - | - | - | €3,370 | €3,370 | = |
| Other amounts payable47/48 | - | - | - | €46,975 | €77,921 | €41,679 | €88,657 | €103,181 | ▲ 16.4% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €28 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €33,645 | €64,723 | €70,135 | €84,867 | €84,373 | €72,049 | €61,821 | €118,608 | ▲ 91.9% |
| + Depreciation and write-downs630 | €801 | €3,427 | €3,774 | €4,727 | €4,761 | €5,359 | €6,178 | €14,193 | ▲ 130% |
| Operating cash flow (approximation) | €34,446 | €68,151 | €73,910 | €89,594 | €89,135 | €77,407 | €67,999 | €132,801 | ▲ 95.3% |
| Investment in fixed assets (approximation) | - | -€19,264 | -€15,402 | -€6,466 | €0 | -€5,990 | -€40,980 | -€76,535 | ▼ 86.8% |
| Change in cash | - | -€11,777 | -€3,901 | €2,629 | -€2,180 | €2,752 | €927 | -€1,850 | - |
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 12 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 03-06-2026 | 2026-00134983 | |
| 31-12-2024 | micro format | 06-08-2025 | 2025-00361537 | |
| 31-12-2023 | micro format | 05-07-2024 | 2024-00213962 | |
| 31-12-2022 | micro format | 22-06-2023 | 2023-00147357 | |
| 31-12-2021 | micro format | 27-06-2022 | 2022-20102867 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-60800504 | |
| 31-12-2019 | micro format | 31-08-2020 | 2020-49700313 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-62600340 | |
| 31-12-2017 | micro format | 31-08-2018 | 2018-60800405 | |
| 31-12-2016 | micro format | 31-08-2017 | 2017-58400264 |