Financials · financial year 2025, micro format
Annual accounts 2025 filed on 11-06-2026 PDF all 11 filings
Equity
€304,685▼ 8.6%
2024 · €333,197
Net result
-€28,513▼ 73.2%
2024 · -€16,459
Total assets
€328,548▼ 17.9%
2024 · €400,158
Solvency
92.7%▲ 9.5pp
2024 · 83.3%
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€29,394
▲ 17.5%
2025
20192025
Net result
-€28,513
▼ 73.2%
2025
lowest quarter of the sector
20192025
Equity
€304,685
▼ 8.6%
2025
middle half of the sector
20192025
Total assets
€328,548
▼ 17.9%
2025
middle half of the sector
20192025
Debt
€23,864
▼ 64.4%
2025
20192025
Working capital
€317,653
▼ 9.6%
2025
highest quarter of the sector
20192025
Solvency
92.7%
▲ 9.5pp
2025
highest quarter of the sector
20192025
Current ratio
39.25
▲ 30.33
2025
highest quarter of the sector
20192025
Return on assets (ROA)
-8.7%
▼ 4.6pp
2025
lowest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€7,553--€1,963€30,925€87,134▲ 182%€2,333▼ 97.3%-€35,649-€29,394▲ 17.5%
Net result€7,805--€1,355below the sector's middle half€25,302within the sector's middle half€64,250within the sector's middle half▲ 154%€289,377above the sector's middle half▲ 350%-€16,459below the sector's middle half-€28,513below the sector's middle half▼ 73.2%
Equity€46,682-€45,328within the sector's middle half▼ 2.9%€65,630within the sector's middle half▲ 44.8%€60,280within the sector's middle half▼ 8.2%€349,657above the sector's middle half▲ 480%€333,197above the sector's middle half▼ 4.7%€304,685within the sector's middle half▼ 8.6%
Total assets€52,383-€51,963below the sector's middle half▼ 0.8%€79,339below the sector's middle half▲ 52.7%€207,918within the sector's middle half▲ 162%€424,279within the sector's middle half▲ 104%€400,158within the sector's middle half▼ 5.7%€328,548within the sector's middle half▼ 17.9%
Debt€5,701-€6,636▲ 16.4%€13,709▲ 107%€147,638▲ 977%€74,622▼ 49.5%€66,960▼ 10.3%€23,864▼ 64.4%
Working capital€44,331-€39,089within the sector's middle half▼ 11.8%€61,790within the sector's middle half▲ 58.1%€14,712within the sector's middle half▼ 76.2%€377,673above the sector's middle half▲ 26×€351,560above the sector's middle half▼ 6.9%€317,653above the sector's middle half▼ 9.6%
Solvency89.1%-87.2%above the sector's middle half▼ 1.9pp82.7%above the sector's middle half▼ 4.5pp29.0%within the sector's middle half▼ 53.7pp82.4%above the sector's middle half▲ 53.4pp83.3%above the sector's middle half▲ 0.9pp92.7%above the sector's middle half▲ 9.5pp
Current ratio8.78-6.89above the sector's middle half▼ 1.895.51above the sector's middle half▼ 1.381.14within the sector's middle half▼ 4.379.36above the sector's middle half▲ 8.228.92above the sector's middle half▼ 0.4439.25above the sector's middle half▲ 30.33
Return on assets (ROA)14.9%--2.6%below the sector's middle half▼ 17.5pp31.9%above the sector's middle half▲ 34.5pp30.9%above the sector's middle half▼ 1.0pp68.2%above the sector's middle half▲ 37.3pp-4.1%below the sector's middle half▼ 72.3pp-8.7%below the sector's middle half▼ 4.6pp
above
within
below
The sector band is the middle half of the companies in Activities auxiliary to financial services and insurance activities (NACE 66). 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 a loss of €29,394, smaller than the loss of €35,649 in 2024.
Large changes and their cause
- 2023 Net result +350% on 2022. This financial year ran 15 months, the previous one 12.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €328,548
Fixed assets
€2,592 ▼ 38.3%
Current assets
€325,957 ▼ 17.7%
Equity and liabilities €328,548
Equity
€304,685 ▼ 8.6%
Debt
€23,864 ▼ 64.4%
Debt's share of the balance-sheet total falls from 16.7% to 7.3%. Equity and debt are lower.
Key figures and ratios
ROE
-9.4%▼
2024 · -4.9%
Debt ≤ 1 year
€8,304▼
2024 · €44,400
Debt > 1 year
€15,559▼
2024 · €22,561
Income taxes
€296▲
2024 · €285
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-09-2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | €4,099 | - |
| Financial fixed assets | €84,688 | - | - | - |
| Depreciation and write-downs of the year | €1,262 | €1,143 | €1,336 | €820 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 · 1 entry · €1,800 awarded · €1,800 paidAnnual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0 | - | - | €949 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €956 | €1,237 | €961 | €1,262 | €1,143 | €1,336 | €820 | ▼ 38.6% |
| Other operating charges640/8 | - | - | - | €1,356 | €1,845 | €1,356 | €1,210 | ▼ 10.8% |
| Gross operating margin9900 | €9,833 | €711 | €33,619 | €89,752 | €5,322 | -€32,957 | -€27,364 | ▲ 17.0% |
| Operating profit (loss)9901 | €7,553 | -€1,963 | €30,925 | €87,134 | €2,333 | -€35,649 | -€29,394 | ▲ 17.5% |
| Financial income75/76B | - | - | - | €1,824 | €426,317 | €20,223 | €1,711 | ▼ 91.5% |
| Recurring financial income75 | €1,544 | €1,444 | €1,336 | €1,824 | €426,317 | €20,223 | €1,711 | ▼ 91.5% |
| Financial charges65/66B | - | - | - | €588 | €969 | €749 | €534 | ▼ 28.7% |
| Recurring financial charges65 | €232 | €84 | €75 | €588 | €969 | €749 | €534 | ▼ 28.7% |
| Profit (loss) for the period before taxes9903 | €8,864 | -€602 | €32,186 | €88,370 | €427,681 | -€16,174 | -€28,217 | ▼ 74.5% |
| Income taxes67/77 | €1,059 | €752 | €6,884 | €24,121 | €138,304 | €285 | €296 | ▲ 3.8% |
| Profit (loss) for the period9904 | €7,805 | -€1,355 | €25,302 | €64,250 | €289,377 | -€16,459 | -€28,513 | ▼ 73.2% |
| Profit (loss) for the period to be appropriated9905 | €7,805 | -€1,355 | €25,302 | €64,250 | €289,377 | -€16,459 | -€28,513 | ▼ 73.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €52,383 | €51,963 | €79,339 | €207,918 | €424,279 | €400,158 | €328,548 | ▼ 17.9% |
| Fixed assets21/28 | €2,351 | €6,239 | €3,840 | €87,266 | €1,435 | €4,198 | €2,592 | ▼ 38.3% |
| Tangible fixed assets22/27 | €2,351 | €6,239 | €3,840 | €2,578 | €1,435 | €4,198 | €2,592 | ▼ 38.3% |
| Land and buildings22 | - | - | - | €334 | €0 | €0 | - | - |
| Furniture and vehicles24 | - | - | - | €2,245 | €1,435 | €4,198 | €2,592 | ▼ 38.3% |
| Financial fixed assets28 | - | - | - | €84,688 | €0 | - | - | - |
| Current assets29/58 | €50,032 | €45,725 | €75,499 | €120,651 | €422,844 | €395,960 | €325,957 | ▼ 17.7% |
| Amounts receivable after more than one year29 | - | - | - | €0 | - | - | - | - |
| Other amounts receivable291 | - | - | - | €0 | - | - | - | - |
| Amounts receivable within one year40/41 | €5,445 | €7,865 | €9,075 | €58,825 | €2,861 | €8,264 | €10,402 | ▲ 25.9% |
| Trade receivables40 | - | - | - | €0 | €5 | €0 | - | - |
| Other amounts receivable41 | - | - | - | €58,825 | €2,856 | €8,264 | €10,402 | ▲ 25.9% |
| Current investments50/53 | - | - | - | - | €368,750 | €106,250 | €143,750 | ▲ 35.3% |
| Cash at bank and in hand54/58 | €11,258 | €9,605 | €36,833 | €56,050 | €50,083 | €280,729 | €171,005 | ▼ 39.1% |
| Deferred charges and accrued income490/1 | - | - | - | €5,777 | €1,150 | €716 | €800 | ▲ 11.6% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €52,383 | €51,963 | €79,339 | €207,918 | €424,279 | €400,158 | €328,548 | ▼ 17.9% |
| Equity10/15 | €46,682 | €45,328 | €65,630 | €60,280 | €349,657 | €333,197 | €304,685 | ▼ 8.6% |
| Contributions10/11 | €6,200 | - | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €46,360 | €46,360 | €59,430 | €41,680 | €331,057 | €314,597 | €289,377 | ▼ 8.0% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €39,820 | €331,057 | €314,597 | €289,377 | ▼ 8.0% |
| Profit (loss) carried forward14 | -€5,878 | -€7,232 | - | €0 | €0 | - | -€3,292 | - |
| Amounts payable17/49 | €5,701 | €6,636 | €13,709 | €147,638 | €74,622 | €66,960 | €23,864 | ▼ 64.4% |
| Amounts payable after more than one year17 | - | - | - | €41,214 | €29,451 | €22,561 | €15,559 | ▼ 31.0% |
| Financial debts170/4 | - | - | - | €41,214 | €29,451 | €22,561 | €15,559 | ▼ 31.0% |
| Amounts payable within one year42/48 | €5,701 | €6,636 | €13,709 | €105,940 | €45,171 | €44,400 | €8,304 | ▼ 81.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €18,646 | €6,781 | €6,890 | €7,001 | ▲ 1.6% |
| Trade debts44 | €1,529 | €2,003 | €976 | €765 | €119 | €480 | €580 | ▲ 20.9% |
| Suppliers440/4 | - | - | - | €765 | €119 | €480 | €580 | ▲ 20.9% |
| Taxes, remuneration and social security45 | - | - | - | €4,529 | €36,591 | €36,591 | €0 | ▼ 100% |
| Taxes450/3 | - | - | - | €4,529 | €36,591 | €36,591 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | €82,000 | €1,680 | €438 | €723 | ▲ 65.0% |
| Accrued charges and deferred income492/3 | - | - | - | €485 | €0 | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,805 | -€1,355 | €25,302 | €64,250 | €289,377 | -€16,459 | -€28,513 | ▼ 73.2% |
| + Depreciation and write-downs630 | €956 | €1,237 | €961 | €1,262 | €1,143 | €1,336 | €820 | ▼ 38.6% |
| Operating cash flow (approximation) | €8,761 | -€117 | €26,263 | €65,511 | €290,521 | -€15,123 | -€27,693 | ▼ 83.1% |
| Investment in fixed assets (approximation) | - | -€5,125 | €1,438 | -€84,688 | €84,688 | -€4,099 | €787 | - |
| Change in cash | - | -€1,654 | €27,228 | €19,217 | -€5,967 | €230,646 | -€109,724 | - |
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 11 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 11-06-2026 | 2026-00152792 | |
| 31-12-2024 | micro format | 10-07-2025 | 2025-00253443 | |
| 31-12-2023 | micro format | 18-07-2024 | 2024-00257859 | |
| 30-09-2022 | micro format | 22-12-2022 | 2022-20543482 | |
| 30-09-2021 | micro format | 24-02-2022 | 2022-06200185 | |
| 30-09-2020 | micro format | 24-03-2021 | 2021-08200453 | |
| 30-09-2019 | micro format | 01-04-2020 | 2020-08100285 | |
| 30-09-2018 | micro format | 27-03-2019 | 2019-07900406 | |
| 30-09-2017 | micro format | 29-03-2018 | 2018-08900344 | |
| 30-09-2016 | abbreviated format | 21-04-2017 | 2017-09800005 |