Summary
PROXAFINANCES 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 €151,143 and a net result of €210,667. Equity is growing by ~17.9% per year across the filed fiscal years. Its solvency ranks better than 40% of 1495 sector peers (fiscal year 2025). The company has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-07-2026, 7 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
7 d early
2024
2 d early
2023
35 d early
2022
26 d early
2021
39 d early
2020
54 d early
2019
30 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 28 days before the deadline; the sector median for financial year 2024 is 5 days before the deadline, and 38% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€151,143▲ 150%
2024 · €60,476
Net result
€210,667▲ 421%
2024 · €40,403
Total assets
€511,605▲ 31.9%
2024 · €387,847
Solvency
29.5%▲ 14.0pp
2024 · 15.6%
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€126,607▲ 78.9%€102,345▼ 19.2%-€6,835€68,251€290,683▲ 326%
Net result€90,147▲ 93.8%€69,443▼ 23.0%-€15,952€40,403€210,667▲ 421%
Equity€120,682▲ 121%€58,525▼ 51.5%€42,573▼ 27.3%€60,476▲ 42.1%€151,143▲ 150%
Total assets€634,492▲ 4.0%€568,220▼ 10.4%€448,947▼ 21.0%€387,847▼ 13.6%€511,605▲ 31.9%
Debt€513,810▼ 7.5%€509,695▼ 0.8%€406,374▼ 20.3%€327,371▼ 19.4%€360,462▲ 10.1%
Working capital€98,211▲ 179%€21,754▼ 77.8%€3,353▼ 84.6%€17,957▲ 436%-€24,598
Solvency19.0%▲ 10.1pp10.3%▼ 8.7pp9.5%▼ 0.8pp15.6%▲ 6.1pp29.5%▲ 14.0pp
Staff (FTE)3.4=3.8▲ 11.8%4▲ 5.3%4=4.4▲ 10.0%
Why a figure moved sharply
- 2025 Net result +421% on 2024. The accounts now follow the abbreviated schema, last year the full schema.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 326% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €511,605
Fixed assets
€268,323 ▲ 5.5%
Current assets
€243,282 ▲ 82.2%
Equity and liabilities €511,605
Equity
€151,143 ▲ 150%
Debt
€360,462 ▲ 10.1%
Debt's share of the balance-sheet total falls from 84.4% to 70.5%. Equity and debt are higher.
Key figures and ratios
ROE
139.4%▲
2024 · 66.8%
ROA
41.2%▲
2024 · 10.4%
Debt ≤ 1 year
€267,880▲
2024 · €115,532
Debt > 1 year
€92,582▼
2024 · €211,840
Income taxes
€75,018▲
2024 · €19,505
Staff costs
€296,000▲
2024 · €262,581
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €72,000 | - |
| Remuneration, social security and pensions62 | €171,354 | €213,505 | €258,166 | €262,581 | €296,000 | ▲ 12.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €59,000 | €64,160 | €66,256 | €66,256 | €51,381 | ▼ 22.5% |
| Other operating charges640/8 | €4,505 | €6,535 | €3,920 | €4,701 | €5,727 | ▲ 21.8% |
| Non-recurring operating charges66A | €7,677 | €5,479 | €3,284 | €1,190 | €405 | ▼ 66.0% |
| Gross operating margin9900 | €369,142 | €392,025 | €324,791 | €402,979 | €644,196 | ▲ 59.9% |
| Operating profit (loss)9901 | €126,607 | €102,345 | -€6,835 | €68,251 | €290,683 | ▲ 326% |
| Financial income75/76B | €5 | €224 | €139 | €7 | €1,046 | ▲ 14,115% |
| Recurring financial income75 | €5 | €224 | €139 | €7 | €1,046 | ▲ 14,115% |
| Financial charges65/66B | €10,313 | €9,352 | €8,523 | €8,351 | €6,045 | ▼ 27.6% |
| Recurring financial charges65 | €10,313 | €9,352 | €8,523 | €8,351 | €6,045 | ▼ 27.6% |
| Profit (loss) for the period before taxes9903 | €116,298 | €93,217 | -€15,219 | €59,908 | €285,685 | ▲ 377% |
| Income taxes67/77 | €26,152 | €23,774 | €733 | €19,505 | €75,018 | ▲ 285% |
| Profit (loss) for the period9904 | €90,147 | €69,443 | -€15,952 | €40,403 | €210,667 | ▲ 421% |
| Profit (loss) for the period to be appropriated9905 | €90,147 | €69,443 | -€15,952 | €40,403 | €210,667 | ▲ 421% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €634,492 | €568,220 | €448,947 | €387,847 | €511,605 | ▲ 31.9% |
| Fixed assets21/28 | €414,750 | €386,870 | €320,614 | €254,358 | €268,323 | ▲ 5.5% |
| Intangible fixed assets21 | €414,750 | €355,750 | €296,750 | €237,750 | €166,936 | ▼ 29.8% |
| Tangible fixed assets22/27 | - | €31,120 | €23,864 | €16,608 | €101,387 | ▲ 510% |
| Furniture and vehicles24 | - | €31,120 | €23,864 | €16,608 | €15,849 | ▼ 4.6% |
| Other tangible fixed assets26 | - | - | - | - | €85,537 | - |
| Current assets29/58 | €219,742 | €181,350 | €128,333 | €133,489 | €243,282 | ▲ 82.2% |
| Amounts receivable within one year40/41 | - | - | €11,267 | €11,764 | €95,537 | ▲ 712% |
| Other amounts receivable41 | - | - | €11,267 | €11,764 | €95,537 | ▲ 712% |
| Current investments50/53 | €30,237 | €44,982 | €44,982 | €42,430 | €42,430 | = |
| Cash at bank and in hand54/58 | €125,971 | €83,962 | €18,418 | €34,191 | €52,949 | ▲ 54.9% |
| Deferred charges and accrued income490/1 | €63,535 | €52,406 | €53,666 | €45,103 | €52,366 | ▲ 16.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €634,492 | €568,220 | €448,947 | €387,847 | €511,605 | ▲ 31.9% |
| Equity10/15 | €120,682 | €58,525 | €42,573 | €60,476 | €151,143 | ▲ 150% |
| Contributions10/11 | €6,200 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | €6,200 | - | - | - | - | - |
| Issued capital100 | €18,600 | - | - | - | - | - |
| Uncalled capital101 | €12,400 | - | - | - | - | - |
| Profit (loss) carried forward14 | €114,482 | €39,925 | €23,973 | €41,876 | €132,543 | ▲ 217% |
| Amounts payable17/49 | €513,810 | €509,695 | €406,374 | €327,371 | €360,462 | ▲ 10.1% |
| Amounts payable after more than one year17 | €392,279 | €350,100 | €281,394 | €211,840 | €92,582 | ▼ 56.3% |
| Financial debts170/4 | €392,279 | €350,100 | €281,394 | €211,840 | €92,582 | ▼ 56.3% |
| Amounts payable within one year42/48 | €121,531 | €159,596 | €124,980 | €115,532 | €267,880 | ▲ 132% |
| Current portion of amounts payable after more than one year42 | €62,171 | €72,536 | €68,705 | €69,555 | €63,060 | ▼ 9.3% |
| Trade debts44 | €2,142 | €7,231 | €24,646 | €8,508 | €7,768 | ▼ 8.7% |
| Suppliers440/4 | €2,142 | €7,231 | €24,646 | €8,508 | €7,768 | ▼ 8.7% |
| Taxes, remuneration and social security45 | €57,218 | €40,828 | €31,629 | €37,469 | €77,052 | ▲ 106% |
| Taxes450/3 | €34,777 | €11,774 | €2,154 | €1,872 | €42,816 | ▲ 2,187% |
| Remuneration and social security454/9 | €22,441 | €29,054 | €29,475 | €35,597 | €34,236 | ▼ 3.8% |
| Other amounts payable47/48 | - | €39,000 | - | - | €120,000 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €90,147 | €69,443 | -€15,952 | €40,403 | €210,667 | ▲ 421% |
| + Depreciation and write-downs630 | €59,000 | €64,160 | €66,256 | €66,256 | €51,381 | ▼ 22.5% |
| Operating cash flow (approximation) | €149,147 | €133,603 | €50,304 | €106,659 | €262,048 | ▲ 146% |
| Investment in fixed assets (approximation) | - | -€36,280 | €0 | €0 | -€65,346 | - |
| Change in cash | - | -€42,009 | -€65,544 | €15,773 | €18,758 | ▲ 18.9% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2019net €210,667 ▲421%
Operating result €290,683, net result €210,667, both a record.
31-12
Financial
Equity above €150,000Eq €151,143 ▲150%
2 profitable years in a row build equity to €151,143.
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Back to profitnet €40,403
Net result €40,403 after one loss-making year.
26-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Weakest financial yearnet -€15,952
Net result drops to -€15,952, the lowest in the series; recovery starts the following year.
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
22-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Equity above €100,000Eq €120,682 ▲121%
3 profitable years in a row build equity to €120,682.
07-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
01-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
6 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Welkenraedt · 1 establishment unit since 2018
Ground area
873 m²
Building footprint
99 m²
Parcel 63032C0002/00N003, Wallonia. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
PROXAFIN
since 20182.281.342.901
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63032C0002/00N003 | Wallonia | 873 m² | 1 · 99 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 ownerChain of control
- PROXAFIN
- PROXAFINANCES
Highest known parent: PROXAFIN. The sources do not say who stands above it.
Owners 1
- PROXAFINparentSourceown accounts 2025100%
Holdings 0
The accounts to 31-12-2025 list no holdings, and no other source names one.
According to the 2025 annual accounts of PROXAFINANCES and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Similar companies · same sector, comparable size
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Arnaud RENARD
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Of 1,682 companies in sector 66191 we hold annual accounts for 1,230. 1,106 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded28-09-2018
Fiscal year end31-12
Activities, NACEBEL 2025
66191Agents and brokers in banking services
68321Property management for co-owned buildings (syndics)
Contact
Website
www.ls-a.be
Website
www.proxafin.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0705965109
Registered
23-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.