Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 01-07-2026 at the NBB all 14 filings
Equity
€20,441▲ 31.6%
2024 · €15,528
Net result
€4,913
2024 · -€765
Total assets
€32,620▲ 7.7%
2024 · €30,280
Solvency
62.7%▲ 11.4pp
2024 · 51.3%
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€8,555
▲ 385%
2025
20182025
Net result
€4,913
2025
lowest quarter of the sector
20182025
Equity
€20,441
▲ 31.6%
2025
lowest quarter of the sector
20182025
Total assets
€32,620
▲ 7.7%
2025
lowest quarter of the sector
20182025
Debt
€12,179
▼ 17.4%
2025
20182025
Working capital
€9,766
▲ 72.0%
2025
middle half of the sector
20182025
Solvency
62.7%
▲ 11.4pp
2025
middle half of the sector
20182025
Current ratio
1.80
▲ 0.30
2025
middle half of the sector
20182025
Return on assets (ROA)
15.1%
▲ 17.6pp
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-€3,464-€1,390€8,650▲ 522%€20,992▲ 143%-€4,730€7,818€1,765▼ 77.4%€8,555▲ 385%
Net result-€3,940-€252€5,377within the sector's middle half▲ 21×€13,044within the sector's middle half▲ 143%-€6,064below the sector's middle half€4,811below the sector's middle half-€765below the sector's middle half€4,913below the sector's middle half
Equity€18,075-€18,327▲ 1.4%€23,704below the sector's middle half▲ 29.3%€33,147below the sector's middle half▲ 39.8%€27,083below the sector's middle half▼ 18.3%€31,893below the sector's middle half▲ 17.8%€15,528below the sector's middle half▼ 51.3%€20,441below the sector's middle half▲ 31.6%
Total assets€34,999-€24,437▼ 30.2%€30,140below the sector's middle half▲ 23.3%€39,633below the sector's middle half▲ 31.5%€34,334below the sector's middle half▼ 13.4%€40,213below the sector's middle half▲ 17.1%€30,280below the sector's middle half▼ 24.7%€32,620below the sector's middle half▲ 7.7%
Debt€16,925-€6,110▼ 63.9%€6,436▲ 5.3%€6,486▲ 0.8%€7,251▲ 11.8%€8,320▲ 14.7%€14,752▲ 77.3%€12,179▼ 17.4%
Working capital€13,176-€17,661▲ 34.0%€23,387within the sector's middle half▲ 32.4%€33,028within the sector's middle half▲ 41.2%€26,734within the sector's middle half▼ 19.1%€31,737within the sector's middle half▲ 18.7%€5,676within the sector's middle half▼ 82.1%€9,766within the sector's middle half▲ 72.0%
Solvency51.6%-75.0%▲ 23.4pp78.6%above the sector's middle half▲ 3.6pp83.6%above the sector's middle half▲ 5.0pp78.9%above the sector's middle half▼ 4.8pp79.3%above the sector's middle half▲ 0.4pp51.3%within the sector's middle half▼ 28.0pp62.7%within the sector's middle half▲ 11.4pp
Current ratio1.78-3.89▲ 2.114.63above the sector's middle half▲ 0.746.09above the sector's middle half▲ 1.464.69above the sector's middle half▼ 1.414.81above the sector's middle half▲ 0.131.51within the sector's middle half▼ 3.311.80within the sector's middle half▲ 0.30
Return on assets (ROA)-11.3%-1.0%▲ 12.3pp17.8%above the sector's middle half▲ 16.8pp32.9%above the sector's middle half▲ 15.1pp-17.7%below the sector's middle half▼ 50.6pp12.0%above the sector's middle half▲ 29.6pp-2.5%below the sector's middle half▼ 14.5pp15.1%above the sector's middle half▲ 17.6pp
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 over 4.8 times that of 2024 and the highest since 2021. It is a recovery after the fall in 2024.
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
2025 in colour, 2024 as the grey bar beneath
Assets €32,620
Fixed assets
€10,675 ▼ 20.2%
Current assets
€21,945 ▲ 29.8%
Equity and liabilities €32,620
Equity
€20,441 ▲ 31.6%
Debt
€12,179 ▼ 17.4%
Debt's share of the balance-sheet total falls from 48.7% to 37.3%. Equity is higher and debt is lower.
Key figures and ratios
ROE
24.0%▲
2024 · -4.9%
Debt ≤ 1 year
€12,179▲
2024 · €11,229
Income taxes
€3,222▲
2024 · €1,429
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 | - | €399 | - | €14,971 | €459 |
| Depreciation and write-downs of the year | €198 | €169 | €192 | €1,753 | €3,159 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,344 | €3,945 | €349 | €198 | €169 | €192 | €1,753 | €3,159 | ▲ 80.2% |
| Other operating charges640/8 | - | - | - | €1,667 | €1,025 | €1,261 | €1,228 | €1,499 | ▲ 22.1% |
| Gross operating margin9900 | €4,859 | €6,325 | €9,892 | €22,857 | -€3,537 | €9,272 | €4,746 | €13,213 | ▲ 178% |
| Operating profit (loss)9901 | -€3,464 | €1,390 | €8,650 | €20,992 | -€4,730 | €7,818 | €1,765 | €8,555 | ▲ 385% |
| Financial income75/76B | - | - | - | €17 | €122 | €112 | €124 | €138 | ▲ 10.8% |
| Recurring financial income75 | €71 | - | - | €17 | €122 | €112 | €124 | €138 | ▲ 10.8% |
| Financial charges65/66B | - | - | - | €1,210 | €903 | €698 | €1,226 | €558 | ▼ 54.4% |
| Recurring financial charges65 | €224 | €158 | €858 | €1,210 | €903 | €698 | €1,226 | €558 | ▼ 54.4% |
| Profit (loss) for the period before taxes9903 | -€3,617 | €1,233 | €7,792 | €19,799 | -€5,511 | €7,233 | €664 | €8,135 | ▲ 12× |
| Income taxes67/77 | €322 | €980 | €2,415 | €6,756 | €553 | €2,422 | €1,429 | €3,222 | ▲ 125% |
| Profit (loss) for the period9904 | -€3,940 | €252 | €5,377 | €13,044 | -€6,064 | €4,811 | -€765 | €4,913 | - |
| Profit (loss) for the period to be appropriated9905 | -€3,940 | €252 | €5,377 | €13,044 | -€6,064 | €4,811 | -€765 | €4,913 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €34,999 | €24,437 | €30,140 | €39,633 | €34,334 | €40,213 | €30,280 | €32,620 | ▲ 7.7% |
| Fixed assets21/28 | €4,899 | €666 | €317 | €119 | €349 | €156 | €13,375 | €10,675 | ▼ 20.2% |
| Tangible fixed assets22/27 | €3,899 | €666 | €317 | €119 | €349 | €156 | €13,375 | €10,675 | ▼ 20.2% |
| Plant, machinery and equipment23 | - | - | - | - | €289 | €156 | €23 | €318 | ▲ 14× |
| Furniture and vehicles24 | - | - | - | €119 | €59 | - | €13,352 | €10,357 | ▼ 22.4% |
| Financial fixed assets28 | €1,000 | - | - | - | - | - | - | - | - |
| Current assets29/58 | €30,101 | €23,771 | €29,823 | €39,514 | €33,985 | €40,057 | €16,905 | €21,945 | ▲ 29.8% |
| Amounts receivable within one year40/41 | €28,791 | €13,093 | €12,848 | €8,715 | €15,733 | €5,470 | €10,830 | €13,076 | ▲ 20.7% |
| Trade receivables40 | - | - | - | €6,269 | €12,365 | €2,947 | €7,727 | €9,406 | ▲ 21.7% |
| Other amounts receivable41 | - | - | - | €2,446 | €3,369 | €2,524 | €3,104 | €3,670 | ▲ 18.3% |
| Cash at bank and in hand54/58 | €984 | €10,483 | €16,304 | €29,952 | €17,706 | €33,850 | €5,373 | €7,801 | ▲ 45.2% |
| Deferred charges and accrued income490/1 | - | - | - | €847 | €545 | €736 | €702 | €1,067 | ▲ 52.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €34,999 | €24,437 | €30,140 | €39,633 | €34,334 | €40,213 | €30,280 | €32,620 | ▲ 7.7% |
| Equity10/15 | €18,075 | €18,327 | €23,704 | €33,147 | €27,083 | €31,893 | €15,528 | €20,441 | ▲ 31.6% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €3,000 | €3,000 | = |
| Reserves13 | €4,255 | €4,255 | €5,104 | €14,547 | €14,547 | €13,892 | €13,892 | €17,441 | ▲ 25.5% |
| Non-distributable reserves130/1 | - | - | - | €655 | €655 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €655 | €655 | - | - | - | - |
| Distributable reserves133 | - | - | - | €13,892 | €13,892 | €13,892 | €13,892 | €17,441 | ▲ 25.5% |
| Profit (loss) carried forward14 | -€4,781 | -€4,528 | - | - | -€6,064 | -€599 | -€1,364 | - | - |
| Amounts payable17/49 | €16,925 | €6,110 | €6,436 | €6,486 | €7,251 | €8,320 | €14,752 | €12,179 | ▼ 17.4% |
| Amounts payable after more than one year17 | - | - | - | - | - | - | €3,523 | - | - |
| Financial debts170/4 | - | - | - | - | - | - | €3,523 | - | - |
| Amounts payable within one year42/48 | €16,925 | €6,110 | €6,436 | €6,486 | €7,251 | €8,320 | €11,229 | €12,179 | ▲ 8.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | €6,773 | €3,523 | ▼ 48.0% |
| Trade debts44 | €6,533 | €615 | €802 | €668 | €2,148 | €810 | €898 | €1,138 | ▲ 26.7% |
| Suppliers440/4 | - | - | - | €668 | €2,148 | €810 | €898 | €1,138 | ▲ 26.7% |
| Taxes, remuneration and social security45 | - | - | - | €2,218 | €5,103 | €7,510 | €3,558 | €7,518 | ▲ 111% |
| Taxes450/3 | - | - | - | €2,218 | €5,103 | €7,510 | €3,558 | €6,768 | ▲ 90.2% |
| Remuneration and social security454/9 | - | - | - | - | - | - | - | €750 | - |
| Other amounts payable47/48 | - | - | - | €3,600 | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,940 | €252 | €5,377 | €13,044 | -€6,064 | €4,811 | -€765 | €4,913 | - |
| + Depreciation and write-downs630 | €7,344 | €3,945 | €349 | €198 | €169 | €192 | €1,753 | €3,159 | ▲ 80.2% |
| Operating cash flow (approximation) | €3,404 | €4,198 | €5,726 | €13,242 | -€5,895 | €5,003 | €988 | €8,072 | ▲ 717% |
| Investment in fixed assets (approximation) | - | €287 | €0 | €0 | -€399 | €0 | -€14,971 | -€459 | ▲ 96.9% |
| Change in cash | - | €9,499 | €5,821 | €13,649 | -€12,246 | €16,144 | -€28,478 | €2,429 | - |
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 14 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 01-07-2026 | 2026-00236043 | |
| 31-12-2024 | abbreviated format | 24-03-2025 | 2025-00052988 | |
| 31-12-2023 | abbreviated format | 04-06-2024 | 2024-00109348 | |
| 31-12-2022 | abbreviated format | 03-05-2023 | 2023-00077325 | |
| 31-12-2021 | abbreviated format | 01-06-2022 | 2022-20041683 | |
| 31-12-2020 | abbreviated format | 16-06-2021 | 2021-20500091 | |
| 31-12-2019 | abbreviated format | 17-07-2020 | 2020-31300573 | |
| 31-12-2018 | abbreviated format | 17-07-2019 | 2019-33700390 | |
| 31-12-2017 | abbreviated format | 19-07-2018 | 2018-35300037 | |
| 31-12-2016 | micro format | 18-07-2017 | 2017-32700553 |