Financials · financial year 2025, micro format
Annual accounts 2025 filed on 30-06-2026 at the NBB all 6 filings
Equity
€2,319▼ 98.9%
2024 · €204,299
Net result
€158,020▼ 20.1%
2024 · €197,656
Total assets
€184,424▼ 11.3%
2024 · €207,837
Solvency
1.3%▼ 97.0pp
2024 · 98.3%
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
€203,320
▼ 23.1%
2025
20202025
Net result
€158,020
▼ 20.1%
2025
highest quarter of the sector
20202025
Equity
€2,319
▼ 98.9%
2025
lowest quarter of the sector
20202025
Total assets
€184,424
▼ 11.3%
2025
middle half of the sector
20202025
Debt
€182,104
▲ 51×
2025
20202025
Working capital
-€28,679
2025
lowest quarter of the sector
20202025
Solvency
1.3%
▼ 97.0pp
2025
lowest quarter of the sector
20202025
Current ratio
0.84
▼ 47.68
2025
middle half of the sector
20202025
Return on assets (ROA)
85.7%
▼ 9.4pp
2025
highest quarter of the sector
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€122,694-€204,646▲ 66.8%€198,753▼ 2.9%€266,560▲ 34.1%€264,526▼ 0.8%€203,320▼ 23.1%
Net result€93,561above the sector's middle half-€147,370above the sector's middle half▲ 57.5%€149,620above the sector's middle half▲ 1.5%€205,092above the sector's middle half▲ 37.1%€197,656above the sector's middle half▼ 3.6%€158,020above the sector's middle half▼ 20.1%
Equity€94,561within the sector's middle half-€241,931within the sector's middle half▲ 156%€391,551within the sector's middle half▲ 61.8%€206,644within the sector's middle half▼ 47.2%€204,299within the sector's middle half▼ 1.1%€2,319below the sector's middle half▼ 98.9%
Total assets€110,982below the sector's middle half-€264,814within the sector's middle half▲ 139%€410,673within the sector's middle half▲ 55.1%€211,459within the sector's middle half▼ 48.5%€207,837within the sector's middle half▼ 1.7%€184,424within the sector's middle half▼ 11.3%
Debt€16,421-€22,882▲ 39.3%€19,122▼ 16.4%€4,816▼ 74.8%€3,538▼ 26.5%€182,104▲ 51×
Working capital€93,444within the sector's middle half-€238,406above the sector's middle half▲ 155%€388,170above the sector's middle half▲ 62.8%€168,372above the sector's middle half▼ 56.6%€168,143above the sector's middle half▼ 0.1%-€28,679below the sector's middle half
Solvency85.2%above the sector's middle half-91.4%above the sector's middle half▲ 6.2pp95.3%above the sector's middle half▲ 4.0pp97.7%above the sector's middle half▲ 2.4pp98.3%above the sector's middle half▲ 0.6pp1.3%below the sector's middle half▼ 97.0pp
Current ratio6.69above the sector's middle half-11.42above the sector's middle half▲ 4.7321.30above the sector's middle half▲ 9.8835.96above the sector's middle half▲ 14.6648.53above the sector's middle half▲ 12.560.84within the sector's middle half▼ 47.68
Return on assets (ROA)84.3%above the sector's middle half-55.7%above the sector's middle half▼ 28.7pp36.4%above the sector's middle half▼ 19.2pp97.0%above the sector's middle half▲ 60.6pp95.1%above the sector's middle half▼ 1.9pp85.7%above the sector's middle half▼ 9.4pp
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 23% lower than in 2024. 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 €184,424
Fixed assets
€30,998 ▼ 14.3%
Current assets
€153,426 ▼ 10.6%
Equity and liabilities €184,424
Equity
€2,319 ▼ 98.9%
Debt
€182,104 ▲ 51×
Debt's share of the balance-sheet total rises from 1.7% to 98.7%. Equity is lower and debt is higher.
Key figures and ratios
Debt ≤ 1 year
€182,104▲
2024 · €3,538
Income taxes
€50,896▼
2024 · €66,588
A ratio outside any meaningful range has been withheld (balance sheet total €184,424, equity €2,319).
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 | €3,523 | €1,223 | €43,332 | €9,493 | €8,080 |
| Depreciation and write-downs of the year | €1,115 | €1,367 | €8,441 | €11,103 | €13,239 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €250 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,636 | €1,115 | €1,367 | €8,441 | €11,103 | €13,239 | ▲ 19.2% |
| Other operating charges640/8 | - | €649 | €1,792 | €2,073 | €5,087 | €2,236 | ▼ 56.0% |
| Non-recurring operating charges66A | - | - | - | - | €505 | - | - |
| Gross operating margin9900 | €124,503 | €206,410 | €201,912 | €277,324 | €281,222 | €218,795 | ▼ 22.2% |
| Operating profit (loss)9901 | €122,694 | €204,646 | €198,753 | €266,560 | €264,526 | €203,320 | ▼ 23.1% |
| Financial income75/76B | - | €389 | €789 | €3,981 | €308 | €6,411 | ▲ 21× |
| Recurring financial income75 | €55 | €389 | €789 | €3,981 | €308 | €6,411 | ▲ 21× |
| Financial charges65/66B | - | €314 | €323 | €698 | €591 | €816 | ▲ 38.1% |
| Recurring financial charges65 | €186 | €314 | €323 | €698 | €591 | €816 | ▲ 38.1% |
| Profit (loss) for the period before taxes9903 | €122,564 | €204,721 | €199,219 | €269,843 | €264,243 | €208,916 | ▼ 20.9% |
| Income taxes67/77 | €29,002 | €57,351 | €49,599 | €64,750 | €66,588 | €50,896 | ▼ 23.6% |
| Profit (loss) for the period9904 | €93,561 | €147,370 | €149,620 | €205,092 | €197,656 | €158,020 | ▼ 20.1% |
| Profit (loss) for the period to be appropriated9905 | €93,561 | €147,370 | €149,620 | €205,092 | €197,656 | €158,020 | ▼ 20.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €110,982 | €264,814 | €410,673 | €211,459 | €207,837 | €184,424 | ▼ 11.3% |
| Fixed assets21/28 | €1,118 | €3,525 | €3,381 | €38,271 | €36,156 | €30,998 | ▼ 14.3% |
| Tangible fixed assets22/27 | €1,118 | €3,525 | €3,381 | €38,271 | €36,156 | €30,998 | ▼ 14.3% |
| Plant, machinery and equipment23 | - | - | - | €1,221 | €916 | €612 | ▼ 33.3% |
| Furniture and vehicles24 | - | €3,525 | €3,381 | €37,050 | €35,240 | €30,386 | ▼ 13.8% |
| Current assets29/58 | €109,865 | €261,288 | €407,292 | €173,188 | €171,681 | €153,426 | ▼ 10.6% |
| Amounts receivable within one year40/41 | €21,014 | €24,779 | €63,300 | €69,029 | €35,505 | €27,919 | ▼ 21.4% |
| Trade receivables40 | - | €24,000 | €63,000 | €57,600 | €30,000 | €5,000 | ▼ 83.3% |
| Other amounts receivable41 | - | €779 | €300 | €11,429 | €5,505 | €22,919 | ▲ 316% |
| Current investments50/53 | - | - | €32,998 | €42,999 | €53,996 | €64,731 | ▲ 19.9% |
| Cash at bank and in hand54/58 | €88,851 | €236,509 | €310,994 | €61,160 | €82,180 | €60,775 | ▼ 26.0% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €110,982 | €264,814 | €410,673 | €211,459 | €207,837 | €184,424 | ▼ 11.3% |
| Equity10/15 | €94,561 | €241,931 | €391,551 | €206,644 | €204,299 | €2,319 | ▼ 98.9% |
| Contributions10/11 | - | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Reserves13 | €93,561 | €240,931 | €390,551 | €205,644 | €203,299 | €1,319 | ▼ 99.4% |
| Non-distributable reserves130/1 | - | €100 | €100 | - | - | - | - |
| Reserves not available under the articles1311 | - | €100 | €100 | - | - | - | - |
| Distributable reserves133 | - | €240,831 | €390,451 | €205,644 | €203,299 | €1,319 | ▼ 99.4% |
| Amounts payable17/49 | €16,421 | €22,882 | €19,122 | €4,816 | €3,538 | €182,104 | ▲ 51× |
| Amounts payable within one year42/48 | €16,421 | €22,882 | €19,122 | €4,816 | €3,538 | €182,104 | ▲ 51× |
| Trade debts44 | €2,655 | €1,849 | €1,781 | €56 | €806 | €2,377 | ▲ 195% |
| Suppliers440/4 | - | €1,849 | €1,781 | €56 | €806 | €2,377 | ▲ 195% |
| Taxes, remuneration and social security45 | - | €5,190 | €6,599 | - | - | €3,000 | - |
| Taxes450/3 | - | €5,190 | €6,599 | - | - | €3,000 | - |
| Other amounts payable47/48 | - | €15,844 | €10,742 | €4,760 | €2,732 | €176,727 | ▲ 65× |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €93,561 | €147,370 | €149,620 | €205,092 | €197,656 | €158,020 | ▼ 20.1% |
| + Depreciation and write-downs630 | €1,636 | €1,115 | €1,367 | €8,441 | €11,103 | €13,239 | ▲ 19.2% |
| Operating cash flow (approximation) | €95,198 | €148,485 | €150,987 | €213,534 | €208,758 | €171,259 | ▼ 18.0% |
| Investment in fixed assets (approximation) | - | -€3,523 | -€1,223 | -€43,332 | -€8,988 | -€8,080 | ▲ 10.1% |
| Change in cash | - | €147,658 | €74,485 | -€249,834 | €21,020 | -€21,405 | - |
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 | 30-06-2026 | 2026-00224688 | |
| 31-12-2024 | micro format | 23-06-2025 | 2025-00166752 | |
| 31-12-2023 | micro format | 05-07-2024 | 2024-00222507 | |
| 31-12-2022 | micro format | 26-06-2023 | 2023-00163764 | |
| 31-12-2021 | micro format | 16-08-2022 | 2022-20292805 | |
| 31-12-2020 | micro format | 23-07-2021 | 2021-39500232 |