Summary
Phocus 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 €270,957 and a net result of €154,990. Equity is growing by ~10.1% per year across the filed fiscal years. Its solvency ranks better than 49% of 6632 sector peers (fiscal year 2025). The company has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals.
Financials · fiscal year 2025, abbreviated schema
Equity
€270,957▲ 31.6%
2024 · €205,967
Net result
€154,990▲ 69.4%
2024 · €91,507
Total assets
€536,286▲ 71.6%
2024 · €312,533
Solvency
50.5%▼ 15.4pp
2024 · 65.9%
Trend over the years
2021 to 2025, 5 fiscal years 2019 to 2025, 7 fiscal years
The operating result falls in 2025; 2025 is 4% below 2024.
What the company sold each fiscal year and what was left of it. A loss stands below the zero line.
Turnover€0
2023
Operating result€121,034
2025
Net result€154,990
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€536,286
2025
Equity€270,957
2025
Debt€265,329
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€10,613
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)28.9%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency50.5%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio1.07
2025
Point at or tap a year, or use the arrow keys on the chart, for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings. 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 fiscal year before
favourable
unfavourable
Line2019202020212022202320242025
Turnover€0€0€0€0
Operating result€77,566-€85,652▲ 10.4%€113,474▲ 32.5%€121,132▲ 6.7%€121,624▲ 0.4%€126,502▲ 4.0%€121,034▼ 4.3%
Net result€61,854-€69,118above the sector's middle half▲ 11.7%€91,298above the sector's middle half▲ 32.1%€87,307above the sector's middle half▼ 4.4%€86,090above the sector's middle half▼ 1.4%€91,507within the sector's middle half▲ 6.3%€154,990within the sector's middle half▲ 69.4%
Equity€120,767-€189,885within the sector's middle half▲ 57.2%€171,062within the sector's middle half▼ 9.9%€178,369within the sector's middle half▲ 4.3%€214,460within the sector's middle half▲ 20.2%€205,967within the sector's middle half▼ 4.0%€270,957within the sector's middle half▲ 31.6%
Total assets€154,116-€220,983within the sector's middle half▲ 43.4%€184,861within the sector's middle half▼ 16.3%€254,589within the sector's middle half▲ 37.7%€308,181within the sector's middle half▲ 21.1%€312,533below the sector's middle half▲ 1.4%€536,286below the sector's middle half▲ 71.6%
Debt€33,349-€31,098▼ 6.7%€13,799▼ 55.6%€76,220▲ 452%€93,721▲ 23.0%€106,566▲ 13.7%€265,329▲ 149%
Working capital€90,686-€161,760above the sector's middle half▲ 78.4%€141,481within the sector's middle half▼ 12.5%€32,937within the sector's middle half▼ 76.7%€55,779within the sector's middle half▲ 69.4%€32,066within the sector's middle half▼ 42.5%€10,613within the sector's middle half▼ 66.9%
Solvency78.4%-85.9%above the sector's middle half▲ 7.6pp92.5%above the sector's middle half▲ 6.6pp70.1%within the sector's middle half▼ 22.5pp69.6%within the sector's middle half▼ 0.5pp65.9%within the sector's middle half▼ 3.7pp50.5%within the sector's middle half▼ 15.4pp
Current ratio3.72-6.20above the sector's middle half▲ 2.4811.25above the sector's middle half▲ 5.051.68within the sector's middle half▼ 9.581.75within the sector's middle half▲ 0.081.30within the sector's middle half▼ 0.451.07within the sector's middle half▼ 0.23
Return on assets (ROA)40.1%-31.3%above the sector's middle half▼ 8.9pp49.4%above the sector's middle half▲ 18.1pp34.3%above the sector's middle half▼ 15.1pp27.9%above the sector's middle half▼ 6.4pp29.3%above the sector's middle half▲ 1.3pp28.9%above the sector's middle half▼ 0.4pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €536,286
Fixed assets
€372,379 ▲ 114%
Current assets
€163,907 ▲ 18.2%
Equity and liabilities €536,286
Equity
€270,957 ▲ 31.6%
Debt
€265,329 ▲ 149%
Debt's share of the balance-sheet total rises from 34.1% to 49.5%. Equity and debt are higher.
Key figures and ratios
ROE
57.2%▲
2024 · 44.4%
Debt ≤ 1 year
€153,294▲
2024 · €106,566
Debt > 1 year
€112,035
Income taxes
€30,997▼
2024 · €32,210
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 |
|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | €0 | €0 | €0 | €0 | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €0 | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,260 | €1,956 | €1,386 | €1,610 | €1,819 | €1,451 | €1,522 | ▲ 4.9% |
| Other operating charges640/8 | - | - | - | €1,488 | €921 | €810 | €518 | ▼ 36.0% |
| Non-recurring operating charges66A | - | - | - | €67 | €116 | €337 | €243 | ▼ 28.0% |
| Gross operating margin9900 | €81,697 | €88,670 | €115,847 | €124,297 | €124,480 | €129,101 | €123,317 | ▼ 4.5% |
| Operating profit (loss)9901 | €77,566 | €85,652 | €113,474 | €121,132 | €121,624 | €126,502 | €121,034 | ▼ 4.3% |
| Financial income75/76B | - | - | - | €99 | €37 | €32 | €69,962 | ▲ 219,836% |
| Recurring financial income75 | €1,873 | €4,471 | €4,699 | €99 | €37 | €32 | €69,962 | ▲ 219,836% |
| Financial charges65/66B | - | - | - | €2,662 | €5,246 | €2,817 | €5,009 | ▲ 77.8% |
| Recurring financial charges65 | €68 | €35 | €83 | €2,662 | €5,246 | €2,817 | €5,009 | ▲ 77.8% |
| Profit (loss) for the period before taxes9903 | €79,371 | €90,088 | €118,090 | €118,569 | €116,416 | €123,717 | €185,987 | ▲ 50.3% |
| Income taxes67/77 | €17,517 | €20,969 | €26,791 | €31,262 | €30,325 | €32,210 | €30,997 | ▼ 3.8% |
| Profit (loss) for the period9904 | €61,854 | €69,118 | €91,298 | €87,307 | €86,090 | €91,507 | €154,990 | ▲ 69.4% |
| Profit (loss) for the period to be appropriated9905 | €61,854 | €69,118 | €91,298 | €87,307 | €86,090 | €91,507 | €154,990 | ▲ 69.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €154,116 | €220,983 | €184,861 | €254,589 | €308,181 | €312,533 | €536,286 | ▲ 71.6% |
| Fixed assets21/28 | €30,081 | €28,125 | €29,582 | €172,971 | €178,252 | €173,901 | €372,379 | ▲ 114% |
| Tangible fixed assets22/27 | €5,081 | €3,125 | €4,582 | €2,971 | €4,502 | €3,901 | €2,379 | ▼ 39.0% |
| Furniture and vehicles24 | - | - | - | €2,971 | €4,502 | €3,901 | €2,379 | ▼ 39.0% |
| Financial fixed assets28 | €25,000 | €25,000 | €25,000 | €170,000 | €173,750 | €170,000 | €370,000 | ▲ 118% |
| Current assets29/58 | €124,035 | €192,858 | €155,279 | €81,618 | €129,929 | €138,632 | €163,907 | ▲ 18.2% |
| Amounts receivable within one year40/41 | €52,142 | €80,180 | €43,476 | €21,702 | €2,217 | - | €1,003 | - |
| Trade receivables40 | - | - | - | €21,702 | €2,217 | - | - | - |
| Other amounts receivable41 | - | - | - | €0 | - | - | €1,003 | - |
| Current investments50/53 | - | €4,000 | €10,033 | €16,132 | €22,994 | €32,025 | €28,825 | ▼ 10.0% |
| Cash at bank and in hand54/58 | €71,417 | €107,142 | €96,569 | €41,515 | €102,650 | €104,550 | €131,771 | ▲ 26.0% |
| Deferred charges and accrued income490/1 | - | - | - | €2,270 | €2,068 | €2,057 | €2,308 | ▲ 12.2% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €154,116 | €220,983 | €184,861 | €254,589 | €308,181 | €312,533 | €536,286 | ▲ 71.6% |
| Equity10/15 | €120,767 | €189,885 | €171,062 | €178,369 | €214,460 | €205,967 | €270,957 | ▲ 31.6% |
| Contributions10/11 | €12,400 | €12,400 | €0 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | - | - | €0 | - | - | - | - |
| Issued capital100 | - | - | - | €0 | - | - | - | - |
| Uncalled capital101 | - | - | - | €0 | - | - | - | - |
| Outside capital11 | - | - | - | €18,600 | €18,600 | - | - | - |
| Other1109/19 | - | - | - | €18,600 | €18,600 | - | - | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - |
| Legal reserve130 | - | - | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | - | - | - | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €106,507 | €175,625 | €150,602 | €157,909 | €194,000 | €185,507 | €250,497 | ▲ 35.0% |
| Amounts payable17/49 | €33,349 | €31,098 | €13,799 | €76,220 | €93,721 | €106,566 | €265,329 | ▲ 149% |
| Amounts payable after more than one year17 | - | - | - | €27,539 | €19,571 | - | €112,035 | - |
| Financial debts170/4 | - | - | - | €27,539 | €19,571 | - | €112,035 | - |
| Amounts payable within one year42/48 | €33,349 | €31,098 | €13,799 | €48,681 | €74,150 | €106,566 | €153,294 | ▲ 43.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €20,003 | €18,420 | €7,877 | €39,556 | ▲ 402% |
| Trade debts44 | €3,502 | €40 | €782 | €2,472 | €365 | €24 | €2,350 | ▲ 9,613% |
| Suppliers440/4 | - | - | - | €2,472 | €365 | €24 | €2,350 | ▲ 9,613% |
| Taxes, remuneration and social security45 | - | - | - | €15,367 | €27,644 | €18,488 | €13,251 | ▼ 28.3% |
| Taxes450/3 | - | - | - | €15,367 | €27,644 | €18,488 | €13,251 | ▼ 28.3% |
| Remuneration and social security454/9 | - | - | - | €0 | €0 | - | - | - |
| Other amounts payable47/48 | - | - | - | €10,839 | €27,721 | €80,177 | €98,137 | ▲ 22.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €61,854 | €69,118 | €91,298 | €87,307 | €86,090 | €91,507 | €154,990 | ▲ 69.4% |
| + Depreciation and write-downs630 | €2,260 | €1,956 | €1,386 | €1,610 | €1,819 | €1,451 | €1,522 | ▲ 4.9% |
| Operating cash flow (approximation) | €64,113 | €71,074 | €92,684 | €88,917 | €87,910 | €92,958 | €156,512 | ▲ 68.4% |
| Investment in fixed assets (approximation) | - | €0 | -€2,843 | -€145,000 | -€7,100 | €2,900 | -€200,000 | ▼ 6,997% |
| Change in cash | - | €35,725 | -€10,573 | -€55,054 | €61,135 | €1,900 | €27,220 | ▲ 1,333% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
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Of 24,716 companies in this sector we hold annual accounts for 20,201. 13,994 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector