Financials · financial year 2025, micro format
Annual accounts 2025 filed on 19-01-2026 PDF all 5 filings
Equity
€357,665▼ 25.6%
2024 · €480,723
Net result
€137,415▲ 8.1%
2024 · €127,132
Total assets
€512,261▲ 1.0%
2024 · €506,981
Solvency
69.8%▼ 25.0pp
2024 · 94.8%
Multi-year overview
2021 to 2025, 5 financial yearsTurnover
no figure
2025
20212025
Operating result
€178,155
▲ 8.0%
2025
20212025
Net result
€137,415
▲ 8.1%
2025
highest quarter of the sector
20212025
Equity
€357,665
▼ 25.6%
2025
middle half of the sector
20212025
Total assets
€512,261
▲ 1.0%
2025
middle half of the sector
20212025
Debt
€154,596
▲ 489%
2025
20212025
Working capital
€324,146
▼ 24.7%
2025
highest quarter of the sector
20212025
Solvency
69.8%
▼ 25.0pp
2025
middle half of the sector
20212025
Current ratio
3.10
▼ 14.30
2025
middle half of the sector
20212025
Return on assets (ROA)
26.8%
▲ 1.7pp
2025
middle half of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Turnover€266,294
Operating result€161,532-€157,332▼ 2.6%€179,608▲ 14.2%€165,025▼ 8.1%€178,155▲ 8.0%
Net result€123,058above the sector's middle half-€105,603above the sector's middle half▼ 14.2%€123,430above the sector's middle half▲ 16.9%€127,132above the sector's middle half▲ 3.0%€137,415above the sector's middle half▲ 8.1%
Equity€124,558within the sector's middle half-€230,161within the sector's middle half▲ 84.8%€353,591within the sector's middle half▲ 53.6%€480,723above the sector's middle half▲ 36.0%€357,665within the sector's middle half▼ 25.6%
Total assets€185,070within the sector's middle half-€294,899within the sector's middle half▲ 59.3%€413,594within the sector's middle half▲ 40.2%€506,981within the sector's middle half▲ 22.6%€512,261within the sector's middle half▲ 1.0%
Debt€60,513-€64,738▲ 7.0%€60,003▼ 7.3%€26,258▼ 56.2%€154,596▲ 489%
Working capital€122,097within the sector's middle half-€198,612above the sector's middle half▲ 62.7%€286,622above the sector's middle half▲ 44.3%€430,479above the sector's middle half▲ 50.2%€324,146above the sector's middle half▼ 24.7%
Solvency67.3%within the sector's middle half-78.0%above the sector's middle half▲ 10.7pp85.5%above the sector's middle half▲ 7.4pp94.8%above the sector's middle half▲ 9.3pp69.8%within the sector's middle half▼ 25.0pp
Current ratio3.02within the sector's middle half-4.07above the sector's middle half▲ 1.055.78above the sector's middle half▲ 1.7117.39above the sector's middle half▲ 11.623.10within the sector's middle half▼ 14.30
Return on assets (ROA)66.5%above the sector's middle half-35.8%above the sector's middle half▼ 30.7pp29.8%above the sector's middle half▼ 6.0pp25.1%within the sector's middle half▼ 4.8pp26.8%within the sector's middle half▲ 1.7pp
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 8% higher than in 2024. It is a recovery after the fall in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €512,261
Fixed assets
€33,519 ▼ 33.3%
Current assets
€478,742 ▲ 4.8%
Equity and liabilities €512,261
Equity
€357,665 ▼ 25.6%
Debt
€154,596 ▲ 489%
Debt's share of the balance-sheet total rises from 5.2% to 30.2%. Equity is lower and debt is higher.
Key figures and ratios
ROE
38.4%▲
2024 · 26.4%
Debt ≤ 1 year
€154,596▲
2024 · €26,258
Income taxes
€49,405▼
2024 · €53,589
Staff costs
€342
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €35,282 | €45,459 | - | - |
| Depreciation and write-downs of the year | €6,193 | €10,040 | €16,725 | €16,725 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2023 · 2 entries · €1,406 awarded · €1,406 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2023 | 1 | €494 | €494 |
| 2022 | 1 | €912 | €912 |
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | €266,294 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €105,837 | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | - | €342 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €493 | €6,193 | €10,040 | €16,725 | €16,725 | = |
| Other operating charges640/8 | - | €1,422 | €1,673 | €1,795 | €1,693 | ▼ 5.7% |
| Gross operating margin9900 | €162,422 | €164,947 | €191,321 | €183,545 | €196,915 | ▲ 7.3% |
| Operating profit (loss)9901 | €161,532 | €157,332 | €179,608 | €165,025 | €178,155 | ▲ 8.0% |
| Financial income75/76B | - | €2,576 | €2,202 | €3,628 | €8,809 | ▲ 143% |
| Recurring financial income75 | - | €2,576 | €2,202 | €3,628 | €8,809 | ▲ 143% |
| Financial charges65/66B | - | €10,360 | €2,033 | -€12,068 | €144 | - |
| Recurring financial charges65 | €24 | €10,360 | €2,033 | -€12,068 | €144 | - |
| Profit (loss) for the period before taxes9903 | €161,508 | €149,548 | €179,777 | €180,721 | €186,820 | ▲ 3.4% |
| Income taxes67/77 | €38,450 | €43,945 | €56,347 | €53,589 | €49,405 | ▼ 7.8% |
| Profit (loss) for the period9904 | €123,058 | €105,603 | €123,430 | €127,132 | €137,415 | ▲ 8.1% |
| Profit (loss) for the period to be appropriated9905 | €123,058 | €105,603 | €123,430 | €127,132 | €137,415 | ▲ 8.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €185,070 | €294,899 | €413,594 | €506,981 | €512,261 | ▲ 1.0% |
| Fixed assets21/28 | €2,460 | €31,549 | €66,968 | €50,244 | €33,519 | ▼ 33.3% |
| Tangible fixed assets22/27 | €2,460 | €31,549 | €66,968 | €50,244 | €33,519 | ▼ 33.3% |
| Furniture and vehicles24 | - | €30,344 | €66,044 | €49,599 | €33,155 | ▼ 33.2% |
| Other tangible fixed assets26 | - | €1,205 | €925 | €645 | €364 | ▼ 43.5% |
| Current assets29/58 | €182,610 | €263,349 | €346,625 | €456,737 | €478,742 | ▲ 4.8% |
| Amounts receivable within one year40/41 | - | - | - | €441 | €7,703 | ▲ 17× |
| Trade receivables40 | - | - | - | €441 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | - | €7,703 | - |
| Current investments50/53 | €27,500 | €84,710 | €247,791 | €385,304 | €425,406 | ▲ 10.4% |
| Cash at bank and in hand54/58 | €155,110 | €177,621 | €95,040 | €69,076 | €43,632 | ▼ 36.8% |
| Deferred charges and accrued income490/1 | - | €1,018 | €3,794 | €1,916 | €2,000 | ▲ 4.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €185,070 | €294,899 | €413,594 | €506,981 | €512,261 | ▲ 1.0% |
| Equity10/15 | €124,558 | €230,161 | €353,591 | €480,723 | €357,665 | ▼ 25.6% |
| Contributions10/11 | - | €1,500 | €1,500 | €1,500 | €1,500 | = |
| Reserves13 | €123,058 | €228,661 | €352,091 | €479,223 | €356,165 | ▼ 25.7% |
| Distributable reserves133 | - | €228,661 | €352,091 | €479,223 | €356,165 | ▼ 25.7% |
| Profit (loss) carried forward14 | - | - | - | - | €0 | - |
| Amounts payable17/49 | €60,513 | €64,738 | €60,003 | €26,258 | €154,596 | ▲ 489% |
| Amounts payable within one year42/48 | €60,513 | €64,738 | €60,003 | €26,258 | €154,596 | ▲ 489% |
| Trade debts44 | - | €44 | - | €592 | €0 | ▼ 100% |
| Suppliers440/4 | - | €44 | - | €592 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | €60,154 | €59,730 | €25,517 | €17,181 | ▼ 32.7% |
| Taxes450/3 | - | €60,154 | €59,730 | €22,949 | €14,681 | ▼ 36.0% |
| Remuneration and social security454/9 | - | - | - | €2,568 | €2,500 | ▼ 2.7% |
| Other amounts payable47/48 | - | €4,539 | €273 | €149 | €137,415 | ▲ 924× |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €123,058 | €105,603 | €123,430 | €127,132 | €137,415 | ▲ 8.1% |
| + Depreciation and write-downs630 | €493 | €6,193 | €10,040 | €16,725 | €16,725 | = |
| Operating cash flow (approximation) | €123,551 | €111,796 | €133,470 | €143,857 | €154,139 | ▲ 7.1% |
| Investment in fixed assets (approximation) | - | -€35,282 | -€45,459 | €0 | €0 | - |
| Change in cash | - | €22,511 | -€82,581 | -€25,965 | -€25,444 | ▲ 2.0% |
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 (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 19-01-2026 | 2026-00009496 | |
| 30-06-2024 | micro format | 20-12-2024 | 2024-00620984 | |
| 30-06-2023 | micro format | 08-01-2024 | 2024-00544390 | |
| 30-06-2022 | micro format | 23-12-2022 | 2022-20544716 | |
| 30-06-2021 | micro format | 23-12-2021 | 2021-81700406 |