Financials · financial year 2025, micro format
Annual accounts 2025 filed on 06-05-2026 PDF all 3 filings
Equity
€131,211▲ 20.0%
2024 · €109,353
Net result
€21,858▼ 43.5%
2024 · €38,688
Total assets
€560,617▲ 305%
2024 · €138,490
Solvency
23.4%▼ 55.6pp
2024 · 79.0%
Multi-year overview
2023 to 2025, 3 financial yearsOperating result
€33,276
▼ 38.7%
2025
20232025
Net result
€21,858
▼ 43.5%
2025
middle half of the sector
20232025
Equity
€131,211
▲ 20.0%
2025
middle half of the sector
20232025
Total assets
€560,617
▲ 305%
2025
middle half of the sector
20232025
Debt
€429,406
▲ 15×
2025
20232025
Working capital
€254,137
▲ 143%
2025
highest quarter of the sector
20232025
Solvency
23.4%
▼ 55.6pp
2025
middle half of the sector
20232025
Current ratio
5.58
▼ 0.95
2025
highest quarter of the sector
20232025
Return on assets (ROA)
3.9%
▼ 24.0pp
2025
middle half of the sector
20232025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202320242025
Operating result€89,383-€54,276▼ 39.3%€33,276▼ 38.7%
Net result€70,676within the sector's middle half-€38,688within the sector's middle half▼ 45.3%€21,858within the sector's middle half▼ 43.5%
Equity€72,331within the sector's middle half-€109,353within the sector's middle half▲ 51.2%€131,211within the sector's middle half▲ 20.0%
Total assets€113,776below the sector's middle half-€138,490within the sector's middle half▲ 21.7%€560,617within the sector's middle half▲ 305%
Debt€41,445-€29,137▼ 29.7%€429,406▲ 15×
Working capital€69,720within the sector's middle half-€104,508within the sector's middle half▲ 49.9%€254,137above the sector's middle half▲ 143%
Solvency63.6%within the sector's middle half-79.0%above the sector's middle half▲ 15.4pp23.4%within the sector's middle half▼ 55.6pp
Current ratio2.68within the sector's middle half-6.53above the sector's middle half▲ 3.855.58above the sector's middle half▼ 0.95
Return on assets (ROA)62.1%above the sector's middle half-27.9%above the sector's middle half▼ 34.2pp3.9%within the sector's middle half▼ 24.0pp
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 39% lower than in 2024 and the lowest since 2023. It is the second fall in a row.
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 €560,617
Fixed assets
€251,026 ▲ 17×
Current assets
€309,591 ▲ 151%
Equity and liabilities €560,617
Equity
€131,211 ▲ 20.0%
Debt
€429,406 ▲ 15×
Debt's share of the balance-sheet total rises from 21.0% to 76.6%. Equity and debt are higher.
Key figures and ratios
ROE
16.7%▼
2024 · 35.4%
Debt ≤ 1 year
€55,454▲
2024 · €18,888
Debt > 1 year
€373,952
Income taxes
€6,856▼
2024 · €11,178
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | €3,275 | €14,513 | €242,200 |
| Depreciation and write-downs of the year | €664 | €2,030 | €6,269 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2025 · 1 entry · €302 awarded · €302 paidAnnual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €664 | €2,030 | €6,269 | ▲ 209% |
| Other operating charges640/8 | €115 | €1,391 | €16,495 | ▲ 12× |
| Gross operating margin9900 | €90,162 | €57,697 | €56,039 | ▼ 2.9% |
| Operating profit (loss)9901 | €89,383 | €54,276 | €33,276 | ▼ 38.7% |
| Financial income75/76B | €18 | €0 | €0 | ▼ 50.0% |
| Recurring financial income75 | €18 | €0 | €0 | ▼ 50.0% |
| Financial charges65/66B | €243 | €4,411 | €4,562 | ▲ 3.4% |
| Recurring financial charges65 | €243 | €4,411 | €4,562 | ▲ 3.4% |
| Profit (loss) for the period before taxes9903 | €89,159 | €49,866 | €28,714 | ▼ 42.4% |
| Income taxes67/77 | €18,482 | €11,178 | €6,856 | ▼ 38.7% |
| Profit (loss) for the period9904 | €70,676 | €38,688 | €21,858 | ▼ 43.5% |
| Profit (loss) for the period to be appropriated9905 | €70,676 | €38,688 | €21,858 | ▼ 43.5% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €113,776 | €138,490 | €560,617 | ▲ 305% |
| Fixed assets21/28 | €2,611 | €15,094 | €251,026 | ▲ 17× |
| Tangible fixed assets22/27 | €2,611 | €15,094 | €251,026 | ▲ 17× |
| Land and buildings22 | - | - | €226,106 | - |
| Furniture and vehicles24 | €2,611 | €5,412 | €16,251 | ▲ 200% |
| Other tangible fixed assets26 | - | €9,683 | €8,669 | ▼ 10.5% |
| Current assets29/58 | €111,166 | €123,396 | €309,591 | ▲ 151% |
| Stocks and contracts in progress3 | - | - | €211,176 | - |
| Stocks30/36 | - | - | €211,176 | - |
| Amounts receivable within one year40/41 | €15,997 | €35,092 | €40,089 | ▲ 14.2% |
| Trade receivables40 | €15,997 | €35,062 | €39,190 | ▲ 11.8% |
| Other amounts receivable41 | - | €31 | €899 | ▲ 29× |
| Cash at bank and in hand54/58 | €94,955 | €86,168 | €57,947 | ▼ 32.8% |
| Deferred charges and accrued income490/1 | €214 | €2,135 | €379 | ▼ 82.3% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €113,776 | €138,490 | €560,617 | ▲ 305% |
| Equity10/15 | €72,331 | €109,353 | €131,211 | ▲ 20.0% |
| Contributions10/11 | €2,500 | €2,500 | €2,500 | = |
| Reserves13 | €69,831 | €106,853 | €128,711 | ▲ 20.5% |
| Distributable reserves133 | €69,831 | €106,853 | €128,711 | ▲ 20.5% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €41,445 | €29,137 | €429,406 | ▲ 15× |
| Amounts payable after more than one year17 | - | - | €373,952 | - |
| Financial debts170/4 | - | - | €373,952 | - |
| Amounts payable within one year42/48 | €41,445 | €18,888 | €55,454 | ▲ 194% |
| Current portion of amounts payable after more than one year42 | - | - | €22,389 | - |
| Trade debts44 | €8,020 | €2,774 | €7,822 | ▲ 182% |
| Suppliers440/4 | €8,020 | €2,774 | €7,822 | ▲ 182% |
| Taxes, remuneration and social security45 | €21,300 | €14,731 | €20,493 | ▲ 39.1% |
| Taxes450/3 | €21,300 | €14,731 | €20,493 | ▲ 39.1% |
| Other amounts payable47/48 | €12,125 | €1,383 | €4,750 | ▲ 243% |
| Accrued charges and deferred income492/3 | - | €10,249 | €0 | ▼ 100% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €70,676 | €38,688 | €21,858 | ▼ 43.5% |
| + Depreciation and write-downs630 | €664 | €2,030 | €6,269 | ▲ 209% |
| Operating cash flow (approximation) | €71,340 | €40,717 | €28,127 | ▼ 30.9% |
| Investment in fixed assets (approximation) | - | -€14,513 | -€242,200 | ▼ 1,569% |
| Change in cash | - | -€8,787 | -€28,221 | ▼ 221% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.