Summary
Page Inside Out is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €104,323 and a net result of €26,668. Equity is growing by about 15% per year across the filed financial years. Its solvency ranks better than 51% of 9,660 sector peers (NACE 64, financial year 2025). The company has been active since 2019 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, micro format
Equity
€104,323▲ 34.3%
2024 · €77,655
Net result
€26,668▼ 21.6%
2024 · €34,001
Total assets
€197,106▼ 20.3%
2024 · €247,382
Solvency
52.9%▲ 21.5pp
2024 · 31.4%
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result falls in 2025; 2025 is 51% below 2024 and is the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€21,785
2025
Net result€26,668
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€197,106
2025
Equity€104,323
2025
Debt€92,783
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€37,087
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)13.5%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency52.9%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.52
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€45,203-€20,561▼ 54.5%€66,302▲ 222%€54,071▼ 18.4%€40,140▼ 25.8%€44,871▲ 11.8%€21,785▼ 51.4%
Net result€33,870-€15,369within the sector's middle half▼ 54.6%€50,289within the sector's middle half▲ 227%€46,127within the sector's middle half▼ 8.3%€40,096within the sector's middle half▼ 13.1%€34,001within the sector's middle half▼ 15.2%€26,668within the sector's middle half▼ 21.6%
Equity€35,870-€51,239within the sector's middle half▲ 42.8%€101,528within the sector's middle half▲ 98.1%€77,655within the sector's middle half▼ 23.5%€77,655within the sector's middle half=€77,655within the sector's middle half=€104,323within the sector's middle half▲ 34.3%
Total assets€67,683-€123,781below the sector's middle half▲ 82.9%€156,055within the sector's middle half▲ 26.1%€166,317within the sector's middle half▲ 6.6%€241,158within the sector's middle half▲ 45.0%€247,382within the sector's middle half▲ 2.6%€197,106within the sector's middle half▼ 20.3%
Debt€31,813-€72,541▲ 128%€54,527▼ 24.8%€88,662▲ 62.6%€163,503▲ 84.4%€169,727▲ 3.8%€92,783▼ 45.3%
Working capital€20,567-€12,003within the sector's middle half▼ 41.6%€55,527within the sector's middle half▲ 363%€30,022within the sector's middle half▼ 45.9%€517within the sector's middle half▼ 98.3%€8,233within the sector's middle half▲ 1,492%€37,087within the sector's middle half▲ 350%
Solvency53.0%-41.4%within the sector's middle half▼ 11.6pp65.1%within the sector's middle half▲ 23.7pp46.7%within the sector's middle half▼ 18.4pp32.2%within the sector's middle half▼ 14.5pp31.4%within the sector's middle half▼ 0.8pp52.9%within the sector's middle half▲ 21.5pp
Current ratio1.90-1.23within the sector's middle half▼ 0.672.08within the sector's middle half▲ 0.851.34within the sector's middle half▼ 0.741.00within the sector's middle half▼ 0.331.06within the sector's middle half▲ 0.061.52within the sector's middle half▲ 0.46
Return on assets (ROA)50.0%-12.4%within the sector's middle half▼ 37.6pp32.2%above the sector's middle half▲ 19.8pp27.7%above the sector's middle half▼ 4.5pp16.6%within the sector's middle half▼ 11.1pp13.7%within the sector's middle half▼ 2.9pp13.5%within the sector's middle half▼ 0.2pp
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €197,106
Fixed assets
€88,740 ▼ 15.8%
Current assets
€108,366 ▼ 23.6%
Equity and liabilities €197,106
Equity
€104,323 ▲ 34.3%
Debt
€92,783 ▼ 45.3%
Debt's share of the balance-sheet total falls from 68.6% to 47.1%. Equity is higher and debt is lower.
Key figures and ratios
ROE
25.6%▼
2024 · 43.8%
Debt ≤ 1 year
€71,279▼
2024 · €133,700
Debt > 1 year
€21,504▼
2024 · €36,027
Income taxes
€7,726▼
2024 · €9,215
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,316 | €12,249 | €13,621 | €5,423 | €15,756 | €23,516 | €24,612 | ▲ 4.7% |
| Other operating charges640/8 | - | - | €2,409 | €2,966 | €2,081 | €1,430 | €1,666 | ▲ 16.5% |
| Non-recurring operating charges66A | - | - | - | - | €1,653 | €0 | - | - |
| Gross operating margin9900 | €59,791 | €35,129 | €82,331 | €62,460 | €59,631 | €69,817 | €48,063 | ▼ 31.2% |
| Operating profit (loss)9901 | €45,203 | €20,561 | €66,302 | €54,071 | €40,140 | €44,871 | €21,785 | ▼ 51.4% |
| Financial income75/76B | - | - | €2 | €5,521 | €13,738 | €6,030 | €17,995 | ▲ 198% |
| Recurring financial income75 | €0 | €0 | €2 | €5,521 | €5,738 | €5,963 | €17,995 | ▲ 202% |
| Non-recurring financial income76B | - | - | - | - | €8,000 | €67 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | €431 | €517 | €3,476 | €7,684 | €5,386 | ▼ 29.9% |
| Recurring financial charges65 | €299 | €323 | €431 | €517 | €3,476 | €7,684 | €5,386 | ▼ 29.9% |
| Profit (loss) for the period before taxes9903 | €44,904 | €20,238 | €65,873 | €59,074 | €50,402 | €43,216 | €34,395 | ▼ 20.4% |
| Income taxes67/77 | €11,034 | €4,869 | €15,584 | €12,948 | €10,306 | €9,215 | €7,726 | ▼ 16.2% |
| Profit (loss) for the period9904 | €33,870 | €15,369 | €50,289 | €46,127 | €40,096 | €34,001 | €26,668 | ▼ 21.6% |
| Profit (loss) for the period to be appropriated9905 | €33,870 | €15,369 | €50,289 | €46,127 | €40,096 | €34,001 | €26,668 | ▼ 21.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €67,683 | €123,781 | €156,055 | €166,317 | €241,158 | €247,382 | €197,106 | ▼ 20.3% |
| Fixed assets21/28 | €24,244 | €60,181 | €49,121 | €47,632 | €127,167 | €105,449 | €88,740 | ▼ 15.8% |
| Tangible fixed assets22/27 | €23,994 | €40,692 | €29,633 | €28,144 | €107,678 | €85,960 | €69,252 | ▼ 19.4% |
| Plant, machinery and equipment23 | - | - | €0 | - | - | - | - | - |
| Furniture and vehicles24 | - | - | €1,351 | €728 | €77,020 | €60,550 | €42,452 | ▼ 29.9% |
| Other tangible fixed assets26 | - | - | €28,282 | €27,416 | €30,658 | €25,410 | €26,799 | ▲ 5.5% |
| Financial fixed assets28 | €250 | €19,488 | €19,488 | €19,488 | €19,488 | €19,488 | €19,488 | = |
| Current assets29/58 | €43,439 | €63,600 | €106,934 | €118,685 | €113,991 | €141,933 | €108,366 | ▼ 23.6% |
| Amounts receivable within one year40/41 | €18,905 | €11,436 | €21,229 | €6,268 | €36,845 | €16,933 | €12,289 | ▼ 27.4% |
| Trade receivables40 | - | - | €21,229 | €4,147 | €34,139 | €13,448 | €9,289 | ▼ 30.9% |
| Other amounts receivable41 | - | - | €0 | €2,121 | €2,706 | €3,485 | €3,000 | ▼ 13.9% |
| Current investments50/53 | - | - | - | €17,837 | €17,770 | €17,837 | €17,837 | = |
| Cash at bank and in hand54/58 | €22,431 | €48,576 | €82,685 | €91,624 | €54,808 | €102,147 | €76,339 | ▼ 25.3% |
| Deferred charges and accrued income490/1 | - | - | €3,020 | €2,956 | €4,568 | €5,016 | €1,901 | ▼ 62.1% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €67,683 | €123,781 | €156,055 | €166,317 | €241,158 | €247,382 | €197,106 | ▼ 20.3% |
| Equity10/15 | €35,870 | €51,239 | €101,528 | €77,655 | €77,655 | €77,655 | €104,323 | ▲ 34.3% |
| Contributions10/11 | - | - | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves13 | €33,870 | €49,239 | €99,528 | €75,655 | €75,655 | €75,655 | €102,323 | ▲ 35.3% |
| Distributable reserves133 | - | - | €99,528 | €75,655 | €75,655 | €75,655 | €102,323 | ▲ 35.3% |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €31,813 | €72,541 | €54,527 | €88,662 | €163,503 | €169,727 | €92,783 | ▼ 45.3% |
| Amounts payable after more than one year17 | €8,942 | €4,105 | €0 | - | €50,029 | €36,027 | €21,504 | ▼ 40.3% |
| Financial debts170/4 | - | - | €0 | - | €50,029 | €36,027 | €21,504 | ▼ 40.3% |
| Amounts payable within one year42/48 | €22,871 | €51,597 | €51,407 | €88,662 | €113,474 | €133,700 | €71,279 | ▼ 46.7% |
| Current portion of amounts payable after more than one year42 | - | - | €4,105 | €0 | €13,499 | €14,002 | €14,523 | ▲ 3.7% |
| Trade debts44 | €5,042 | €15,437 | €11,840 | €7,552 | €4,590 | €4,574 | €3,614 | ▼ 21.0% |
| Suppliers440/4 | - | - | €11,840 | €7,552 | €4,590 | €4,574 | €3,614 | ▼ 21.0% |
| Taxes, remuneration and social security45 | - | - | €33,523 | €24,735 | €298 | €10,412 | €12,683 | ▲ 21.8% |
| Taxes450/3 | - | - | €33,523 | €24,735 | €298 | €10,412 | €12,683 | ▲ 21.8% |
| Other amounts payable47/48 | - | - | €1,938 | €56,376 | €95,087 | €104,712 | €40,459 | ▼ 61.4% |
| Accrued charges and deferred income492/3 | - | - | €3,120 | €0 | - | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €33,870 | €15,369 | €50,289 | €46,127 | €40,096 | €34,001 | €26,668 | ▼ 21.6% |
| + Depreciation and write-downs630 | €12,316 | €12,249 | €13,621 | €5,423 | €15,756 | €23,516 | €24,612 | ▲ 4.7% |
| Operating cash flow (approximation) | €46,186 | €27,618 | €63,910 | €51,550 | €55,852 | €57,517 | €51,280 | ▼ 10.8% |
| Investment in fixed assets (approximation) | - | -€48,185 | -€2,562 | -€3,934 | -€95,290 | -€1,798 | -€7,903 | ▼ 340% |
| Change in cash | - | €26,145 | €34,109 | €8,939 | -€36,816 | €47,339 | -€25,808 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 05-05-2026 | 2026-00102092 |
| 31-12-2024 | micro format | 28-05-2025 | 2025-00108394 |
| 31-12-2023 | micro format | 22-05-2024 | 2024-00092070 |
| 31-12-2022 | micro format | 04-07-2023 | 2023-00201265 |
| 31-12-2021 | micro format | 08-07-2022 | 2022-20164378 |
| 31-12-2020 | micro format | 15-07-2021 | 2021-36200217 |
| 31-12-2019 | micro format | 10-07-2020 | 2020-28700017 |
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Of the 24,456 active companies whose main activity is activities of holding companies (NACE 64210), figures are known for 19,971. 12,577 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Subsidies and aid
Flemish government
2024 · 1 entry · €572 awarded · €572 paidPublic contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.