Financials · financial year 2026, abbreviated format
Annual accounts 2026 filed on 24-07-2026 at the NBB all 13 filings
Equity
€886,680▲ 15.9%
2025 · €765,029
Net result
€121,652▼ 24.7%
2025 · €161,608
Total assets
€889,077▲ 7.6%
2025 · €826,571
Solvency
99.7%▲ 7.2pp
2025 · 92.6%
Multi-year overview
2019 to 2026, 8 financial yearsOperating result
€165,593
▼ 24.6%
2026
20192026
Net result
€121,652
▼ 24.7%
2026
20192026
Equity
€886,680
▲ 15.9%
2026
20192026
Total assets
€889,077
▲ 7.6%
2026
20192026
Debt
€2,396
▼ 96.1%
2026
20192026
Working capital
€424,345
▲ 45.8%
2026
20192026
Solvency
99.7%
▲ 7.2pp
2026
20192026
Current ratio
no figure
2026
20192026
Return on assets (ROA)
13.7%
▼ 5.9pp
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result€9,956-€47,552▲ 378%€36,976▼ 22.2%€21,782▼ 41.1%€104,247▲ 379%€521,870▲ 401%€219,608▼ 57.9%€165,593▼ 24.6%
Net result€6,165-€35,688▲ 479%€26,656within the sector's middle half▼ 25.3%€15,832within the sector's middle half▼ 40.6%€61,197within the sector's middle half▲ 287%€352,413above the sector's middle half▲ 476%€161,608within the sector's middle half▼ 54.1%€121,652▼ 24.7%
Equity€111,635-€147,323▲ 32.0%€173,979within the sector's middle half▲ 18.1%€189,811within the sector's middle half▲ 9.1%€251,008within the sector's middle half▲ 32.2%€603,420within the sector's middle half▲ 140%€765,029within the sector's middle half▲ 26.8%€886,680▲ 15.9%
Total assets€972,202-€938,145▼ 3.5%€973,977within the sector's middle half▲ 3.8%€974,820within the sector's middle half▲ 0.1%€962,107within the sector's middle half▼ 1.3%€708,767within the sector's middle half▼ 26.3%€826,571within the sector's middle half▲ 16.6%€889,077▲ 7.6%
Debt€860,567-€790,823▼ 8.1%€799,998▲ 1.2%€785,009▼ 1.9%€711,100▼ 9.4%€105,347▼ 85.2%€61,542▼ 41.6%€2,396▼ 96.1%
Working capital-€326,422--€351,121▼ 7.6%-€387,753below the sector's middle half▼ 10.4%-€74,357within the sector's middle half▲ 80.8%€1,708within the sector's middle half€127,779within the sector's middle half▲ 75×€291,033above the sector's middle half▲ 128%€424,345▲ 45.8%
Solvency11.5%-15.7%▲ 4.2pp17.9%below the sector's middle half▲ 2.2pp19.5%below the sector's middle half▲ 1.6pp26.1%within the sector's middle half▲ 6.6pp85.1%above the sector's middle half▲ 59.0pp92.6%above the sector's middle half▲ 7.4pp99.7%▲ 7.2pp
Current ratio0.06-0.03▼ 0.040.02below the sector's middle half=0.16below the sector's middle half▲ 0.141.06within the sector's middle half▲ 0.902.35within the sector's middle half▲ 1.285.76above the sector's middle half▲ 3.41
Return on assets (ROA)0.6%-3.8%▲ 3.2pp2.7%within the sector's middle half▼ 1.1pp1.6%within the sector's middle half▼ 1.1pp6.4%within the sector's middle half▲ 4.7pp49.7%above the sector's middle half▲ 43.4pp19.6%above the sector's middle half▼ 30.2pp13.7%▼ 5.9pp
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 2026 is 25% lower than in 2025. It is the second fall in a row.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €889,077
Fixed assets
€462,707 ▼ 2.5%
Current assets
€426,369 ▲ 21.1%
Equity and liabilities €889,077
Equity
€886,680 ▲ 15.9%
Debt
€2,396 ▼ 96.1%
Debt's share of the balance-sheet total falls from 7.4% to 0.3%. Equity is higher and debt is lower.
Key figures and ratios
ROE
13.7%▼
2025 · 21.1%
Debt ≤ 1 year
€2,025▼
2025 · €61,170
Income taxes
€43,920▼
2025 · €57,269
A ratio outside any meaningful range has been withheld (balance sheet total €889,077, equity €886,680).
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 | 30-06-2026 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €217,854 | - | - | - | - |
| Mortgages, amount registered | €55,000 | - | - | - | - |
| Mortgage mandates | €434,500 | - | - | - | - |
| Carrying value of the mortgaged assets | €464,420 | - | - | - | - |
Source: notes to the 2022 to 2026 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 | 30-06-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | €24,778 | €2,656 | €112,422 | - | - |
| Depreciation and write-downs of the year | €29,431 | €30,587 | €11,661 | €11,661 | €11,661 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €422,298 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €26,781 | €30,355 | €30,912 | €29,431 | €30,587 | €11,661 | €11,661 | €11,661 | = |
| Other operating charges640/8 | - | - | - | €4,403 | €4,495 | €30,940 | €5,177 | €2,739 | ▼ 47.1% |
| Gross operating margin9900 | €41,074 | €81,089 | €72,422 | €55,617 | €139,329 | €564,471 | €236,445 | €179,993 | ▼ 23.9% |
| Operating profit (loss)9901 | €9,956 | €47,552 | €36,976 | €21,782 | €104,247 | €521,870 | €219,608 | €165,593 | ▼ 24.6% |
| Financial income75/76B | - | - | - | - | - | €868 | €984 | €2 | ▼ 99.8% |
| Recurring financial income75 | - | - | - | - | - | €868 | €984 | €2 | ▼ 99.8% |
| Financial charges65/66B | - | - | - | €673 | €18,126 | €11,882 | €1,715 | €24 | ▼ 98.6% |
| Recurring financial charges65 | €1,554 | €1,256 | €929 | €673 | €18,126 | €11,882 | €1,715 | €24 | ▼ 98.6% |
| Profit (loss) for the period before taxes9903 | €8,402 | €46,296 | €36,047 | €21,109 | €86,120 | €510,856 | €218,877 | €165,571 | ▼ 24.4% |
| Income taxes67/77 | €2,237 | €10,609 | €9,390 | €5,277 | €24,923 | €158,443 | €57,269 | €43,920 | ▼ 23.3% |
| Profit (loss) for the period9904 | €6,165 | €35,688 | €26,656 | €15,832 | €61,197 | €352,413 | €161,608 | €121,652 | ▼ 24.7% |
| Transfer to tax-exempt reserves689 | - | - | - | - | - | - | €80,750 | €45,550 | ▼ 43.6% |
| Profit (loss) for the period to be appropriated9905 | €6,165 | €35,688 | €26,656 | €15,832 | €61,197 | €352,413 | €80,858 | €76,102 | ▼ 5.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €972,202 | €938,145 | €973,977 | €974,820 | €962,107 | €708,767 | €826,571 | €889,077 | ▲ 7.6% |
| Fixed assets21/28 | €950,238 | €928,819 | €965,554 | €960,901 | €932,970 | €486,028 | €474,368 | €462,707 | ▼ 2.5% |
| Tangible fixed assets22/27 | €950,238 | €928,819 | €965,554 | €960,901 | €932,970 | €486,028 | €474,368 | €462,707 | ▼ 2.5% |
| Land and buildings22 | - | - | - | €955,057 | €932,970 | €486,028 | €474,368 | €462,707 | ▼ 2.5% |
| Furniture and vehicles24 | - | - | - | €5,845 | - | - | - | - | - |
| Current assets29/58 | €21,963 | €9,326 | €8,423 | €13,918 | €29,137 | €222,738 | €352,203 | €426,369 | ▲ 21.1% |
| Amounts receivable within one year40/41 | €16,377 | €7,937 | €2,154 | €2,262 | €2,755 | €1,022 | €24,178 | €521 | ▼ 97.8% |
| Trade receivables40 | - | - | - | - | €2,659 | €967 | €971 | €450 | ▼ 53.7% |
| Other amounts receivable41 | - | - | - | €2,262 | €96 | €55 | €23,207 | €71 | ▼ 99.7% |
| Current investments50/53 | - | - | - | - | - | - | €300,550 | €300,550 | = |
| Cash at bank and in hand54/58 | €5,092 | €946 | €1,484 | €7,828 | €21,693 | €219,052 | €15,519 | €123,485 | ▲ 696% |
| Deferred charges and accrued income490/1 | - | - | - | €3,829 | €4,690 | €2,665 | €11,956 | €1,814 | ▼ 84.8% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €972,202 | €938,145 | €973,977 | €974,820 | €962,107 | €708,767 | €826,571 | €889,077 | ▲ 7.6% |
| Equity10/15 | €111,635 | €147,323 | €173,979 | €189,811 | €251,008 | €603,420 | €765,029 | €886,680 | ▲ 15.9% |
| Contributions10/11 | €75,000 | - | - | €75,000 | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Reserves13 | €36,635 | €72,323 | €98,979 | €114,811 | €176,008 | €528,420 | €690,029 | €811,680 | ▲ 17.6% |
| Non-distributable reserves130/1 | - | - | - | €7,500 | €7,500 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €7,500 | €7,500 | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | - | - | - | €80,750 | €126,300 | ▲ 56.4% |
| Distributable reserves133 | - | - | - | €107,311 | €168,508 | €528,420 | €609,279 | €685,380 | ▲ 12.5% |
| Amounts payable17/49 | €860,567 | €790,823 | €799,998 | €785,009 | €711,100 | €105,347 | €61,542 | €2,396 | ▼ 96.1% |
| Amounts payable after more than one year17 | €512,181 | €430,375 | €403,822 | €696,734 | €670,000 | - | - | - | - |
| Financial debts170/4 | - | - | - | €696,734 | €670,000 | - | - | - | - |
| Amounts payable within one year42/48 | €348,385 | €360,448 | €396,176 | €88,275 | €27,430 | €94,960 | €61,170 | €2,025 | ▼ 96.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €9,788 | €5,315 | - | - | - | - |
| Financial debts43 | - | - | - | €32,300 | €17,067 | €79,990 | - | - | - |
| Credit institutions430/8 | - | - | - | €32,300 | €17,067 | €79,990 | - | - | - |
| Trade debts44 | €3,302 | €5,412 | €1,835 | €1,187 | €48 | €1,081 | €1,049 | €1,925 | ▲ 83.4% |
| Suppliers440/4 | - | - | - | €1,187 | €48 | €1,081 | €1,049 | €1,925 | ▲ 83.4% |
| Taxes, remuneration and social security45 | - | - | - | - | - | €13,889 | - | €100 | - |
| Taxes450/3 | - | - | - | - | - | €13,889 | - | €100 | - |
| Other amounts payable47/48 | - | - | - | €45,000 | €5,000 | - | €60,121 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | - | €13,670 | €10,387 | €372 | €372 | = |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,165 | €35,688 | €26,656 | €15,832 | €61,197 | €352,413 | €161,608 | €121,652 | ▼ 24.7% |
| + Depreciation and write-downs630 | €26,781 | €30,355 | €30,912 | €29,431 | €30,587 | €11,661 | €11,661 | €11,661 | = |
| Operating cash flow (approximation) | €32,946 | €66,043 | €57,569 | €45,263 | €91,784 | €364,073 | €173,269 | €133,312 | ▼ 23.1% |
| Investment in fixed assets (approximation) | - | -€8,936 | -€67,648 | -€24,778 | -€2,656 | €435,281 | €0 | €0 | - |
| Change in cash | - | -€4,145 | €537 | €6,345 | €13,865 | €197,359 | -€203,533 | €107,966 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 13 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2026 | abbreviated format | 24-07-2026 | 2026-00328235 | |
| 30-06-2025 | abbreviated format | 06-01-2026 | 2026-00002319 | |
| 30-06-2024 | abbreviated format | 07-01-2025 | 2025-00000519 | |
| 30-06-2023 | abbreviated format | 04-01-2024 | 2024-00542896 | |
| 30-06-2022 | abbreviated format | 02-12-2022 | 2022-20530619 | |
| 30-06-2021 | abbreviated format | 24-11-2021 | 2021-78100529 | |
| 30-06-2020 | abbreviated format | 05-01-2021 | 2021-00200323 | |
| 30-06-2019 | abbreviated format | 17-01-2020 | 2020-01500423 | |
| 30-06-2018 | abbreviated format | 24-12-2018 | 2018-75700149 | |
| 30-06-2017 | abbreviated format | 18-01-2018 | 2018-01800112 |