Financials · financial year 2025, micro format
Annual accounts 2025 filed on 26-05-2026 PDF all 9 filings
Equity
€18,600▼ 90.8%
2024 · €201,115
Net result
€74,874▼ 32.8%
2024 · €111,379
Total assets
€98,218▼ 54.9%
2024 · €217,702
Solvency
18.9%▼ 73.4pp
2024 · 92.4%
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€91,462
▼ 19.2%
2025
20182025
Net result
€74,874
▼ 32.8%
2025
middle half of the sector
20182025
Equity
€18,600
▼ 90.8%
2025
lowest quarter of the sector
20182025
Total assets
€98,218
▼ 54.9%
2025
lowest quarter of the sector
20182025
Debt
€79,618
▲ 380%
2025
20182025
Working capital
€20,100
▼ 90.1%
2025
middle half of the sector
20182025
Solvency
18.9%
▼ 73.4pp
2025
lowest quarter of the sector
20182025
Current ratio
1.26
▼ 13.17
2025
middle half of the sector
20182025
Return on assets (ROA)
76.2%
▲ 25.1pp
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€71,884-€156,885▲ 118%€19,871▼ 87.3%-€56,134-€60,239▼ 7.3%-€10,784▲ 82.1%€113,197€91,462▼ 19.2%
Net result€50,324-€106,598▲ 112%€14,215within the sector's middle half▼ 86.7%-€57,322below the sector's middle half-€63,473below the sector's middle half▼ 10.7%-€12,874below the sector's middle half▲ 79.7%€111,379above the sector's middle half€74,874within the sector's middle half▼ 32.8%
Equity€90,393-€196,991▲ 118%€211,205within the sector's middle half▲ 7.2%€166,084within the sector's middle half▼ 21.4%€102,610within the sector's middle half▼ 38.2%€89,736within the sector's middle half▼ 12.5%€201,115within the sector's middle half▲ 124%€18,600below the sector's middle half▼ 90.8%
Total assets€144,483-€249,980▲ 73.0%€270,524within the sector's middle half▲ 8.2%€171,600within the sector's middle half▼ 36.6%€112,265below the sector's middle half▼ 34.6%€98,374below the sector's middle half▼ 12.4%€217,702within the sector's middle half▲ 121%€98,218below the sector's middle half▼ 54.9%
Debt€54,090-€52,989▼ 2.0%€59,319▲ 11.9%€5,516▼ 90.7%€9,654▲ 75.0%€8,638▼ 10.5%€16,587▲ 92.0%€79,618▲ 380%
Working capital€82,080-€191,139▲ 133%€205,903above the sector's middle half▲ 7.7%€160,773above the sector's middle half▼ 21.9%€99,726within the sector's middle half▼ 38.0%€88,441within the sector's middle half▼ 11.3%€202,615above the sector's middle half▲ 129%€20,100within the sector's middle half▼ 90.1%
Solvency62.6%-78.8%▲ 16.2pp78.1%above the sector's middle half▼ 0.7pp96.8%above the sector's middle half▲ 18.7pp91.4%above the sector's middle half▼ 5.4pp91.2%above the sector's middle half▼ 0.2pp92.4%above the sector's middle half▲ 1.2pp18.9%below the sector's middle half▼ 73.4pp
Current ratio2.52-4.61▲ 2.094.47above the sector's middle half▼ 0.1430.15above the sector's middle half▲ 25.6811.33above the sector's middle half▼ 18.8211.24above the sector's middle half▼ 0.0914.43above the sector's middle half▲ 3.191.26within the sector's middle half▼ 13.17
Return on assets (ROA)34.8%-42.6%▲ 7.8pp5.3%within the sector's middle half▼ 37.4pp-33.4%below the sector's middle half▼ 38.7pp-56.5%below the sector's middle half▼ 23.1pp-13.1%below the sector's middle half▲ 43.5pp51.2%above the sector's middle half▲ 64.2pp76.2%above the sector's middle half▲ 25.1pp
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 19% lower than 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
Equity and liabilities €98,218
Equity
€18,600 ▼ 90.8%
Debt
€79,618 ▲ 380%
Debt's share of the balance-sheet total rises from 7.6% to 81.1%. Equity is lower and debt is higher.
Key figures and ratios
ROE
402.5%▲
2024 · 55.4%
Debt ≤ 1 year
€78,118▲
2024 · €15,087
Income taxes
€15,799▲
2024 · €296
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 | €2,962 | - | - | - | - |
| Depreciation and write-downs of the year | €2,954 | €2,427 | €1,590 | €0 | - |
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 | - | - | - | €5,200 | €306 | €0 | €10,193 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,191 | €4,373 | €2,020 | €2,954 | €2,427 | €1,590 | €0 | - | - |
| Other operating charges640/8 | - | - | - | €1,192 | €1,443 | €1,173 | €1,775 | €1,037 | ▼ 41.6% |
| Gross operating margin9900 | €76,466 | €162,780 | €23,158 | -€51,988 | -€56,369 | -€8,021 | €114,972 | €92,499 | ▼ 19.5% |
| Operating profit (loss)9901 | €71,884 | €156,885 | €19,871 | -€56,134 | -€60,239 | -€10,784 | €113,197 | €91,462 | ▼ 19.2% |
| Financial income75/76B | - | - | - | €0 | €15 | €572 | €40 | €522 | ▲ 13× |
| Recurring financial income75 | €1 | €0 | €0 | €0 | €15 | €572 | €40 | €522 | ▲ 13× |
| Financial charges65/66B | - | - | - | €1,453 | €2,350 | €2,260 | €1,562 | €1,311 | ▼ 16.0% |
| Recurring financial charges65 | €234 | €225 | €165 | €1,453 | €2,350 | €2,260 | €1,562 | €1,311 | ▼ 16.0% |
| Profit (loss) for the period before taxes9903 | €71,652 | €156,660 | €19,706 | -€57,587 | -€62,573 | -€12,472 | €111,676 | €90,673 | ▼ 18.8% |
| Income taxes67/77 | €21,328 | €50,062 | €5,491 | -€265 | €900 | €402 | €296 | €15,799 | ▲ 53× |
| Profit (loss) for the period9904 | €50,324 | €106,598 | €14,215 | -€57,322 | -€63,473 | -€12,874 | €111,379 | €74,874 | ▼ 32.8% |
| Profit (loss) for the period to be appropriated9905 | €50,324 | €106,598 | €14,215 | -€57,322 | -€63,473 | -€12,874 | €111,379 | €74,874 | ▼ 32.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €144,483 | €249,980 | €270,524 | €171,600 | €112,265 | €98,374 | €217,702 | €98,218 | ▼ 54.9% |
| Formation expenses20 | €0 | - | - | - | - | - | - | - | - |
| Fixed assets21/28 | €8,312 | €5,852 | €5,303 | €5,311 | €2,884 | €1,295 | €0 | - | - |
| Intangible fixed assets21 | €0 | - | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €8,312 | €5,852 | €5,303 | €5,311 | €2,884 | €1,295 | €0 | - | - |
| Furniture and vehicles24 | - | - | - | €5,311 | €2,884 | €1,295 | €0 | - | - |
| Financial fixed assets28 | €0 | - | - | - | - | - | - | - | - |
| Current assets29/58 | €136,171 | €244,128 | €265,221 | €166,289 | €109,380 | €97,079 | €217,702 | €98,218 | ▼ 54.9% |
| Stocks and contracts in progress3 | €0 | - | - | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €24,095 | €27,204 | €2,656 | €9,930 | €16,543 | €45,951 | €31,866 | €48,452 | ▲ 52.0% |
| Trade receivables40 | - | - | - | €9,930 | €11,166 | €31,466 | €31,763 | €38,974 | ▲ 22.7% |
| Other amounts receivable41 | - | - | - | - | €5,378 | €14,485 | €104 | €9,479 | ▲ 91× |
| Current investments50/53 | €0 | - | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €109,303 | €215,315 | €261,025 | €154,848 | €91,285 | €49,451 | €182,953 | €46,608 | ▼ 74.5% |
| Deferred charges and accrued income490/1 | - | - | - | €1,511 | €1,552 | €1,677 | €2,883 | €3,157 | ▲ 9.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €144,483 | €249,980 | €270,524 | €171,600 | €112,265 | €98,374 | €217,702 | €98,218 | ▼ 54.9% |
| Equity10/15 | €90,393 | €196,991 | €211,205 | €166,084 | €102,610 | €89,736 | €201,115 | €18,600 | ▼ 90.8% |
| Contributions10/11 | €6,400 | €6,400 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €83,993 | €190,591 | €190,591 | €190,591 | €190,591 | €190,591 | €190,591 | €0 | ▼ 100% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €188,731 | €188,731 | €190,591 | €190,591 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | €0 | - | €14,215 | -€43,107 | -€106,580 | -€119,455 | -€8,075 | €0 | - |
| Provisions and deferred taxes16 | €0 | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €54,090 | €52,989 | €59,319 | €5,516 | €9,654 | €8,638 | €16,587 | €79,618 | ▲ 380% |
| Amounts payable after more than one year17 | €0 | - | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €54,090 | €52,989 | €59,319 | €5,516 | €9,654 | €8,638 | €15,087 | €78,118 | ▲ 418% |
| Trade debts44 | €1,959 | €2,458 | €1,858 | €1,206 | €3,888 | €171 | €2,870 | €2,702 | ▼ 5.9% |
| Suppliers440/4 | - | - | - | €1,206 | €3,888 | €171 | €2,870 | €2,702 | ▼ 5.9% |
| Taxes, remuneration and social security45 | - | - | - | €2,892 | €5,767 | €8,467 | €10,514 | €7,163 | ▼ 31.9% |
| Taxes450/3 | - | - | - | €2,892 | €5,767 | €8,467 | €10,514 | €7,163 | ▼ 31.9% |
| Remuneration and social security454/9 | - | - | - | €0 | - | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €1,418 | €0 | - | €1,703 | €68,253 | ▲ 40× |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €1,500 | €1,500 | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €50,324 | €106,598 | €14,215 | -€57,322 | -€63,473 | -€12,874 | €111,379 | €74,874 | ▼ 32.8% |
| + Depreciation and write-downs630 | €3,191 | €4,373 | €2,020 | €2,954 | €2,427 | €1,590 | €0 | - | - |
| Operating cash flow (approximation) | €53,514 | €110,971 | €16,235 | -€54,368 | -€61,047 | -€11,285 | €111,379 | €74,874 | ▼ 32.8% |
| Investment in fixed assets (approximation) | - | -€1,912 | -€1,471 | -€2,962 | €0 | €0 | €1,295 | - | - |
| Change in cash | - | €106,012 | €45,710 | -€106,177 | -€63,562 | -€41,834 | €133,502 | -€136,344 | - |
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 (9)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 26-05-2026 | 2026-00120586 | |
| 31-12-2024 | micro format | 17-06-2025 | 2025-00145010 | |
| 31-12-2023 | micro format | 02-04-2024 | 2024-00057708 | |
| 31-12-2022 | micro format | 27-07-2023 | 2023-00283298 | |
| 31-12-2021 | micro format | 07-09-2022 | 2022-20426525 | |
| 31-12-2020 | micro format | 09-08-2021 | 2021-47100222 | |
| 31-12-2019 | micro format | 22-06-2020 | 2020-20200300 | |
| 31-12-2018 | micro format | 27-05-2019 | 2019-14500306 | |
| 31-12-2017 | micro format | 18-07-2018 | 2018-35000299 |