Financials · financial year 2025, micro format
Annual accounts 2025 filed on 25-06-2026 at the NBB all 3 filings
Equity
€53,300▼ 27.2%
2024 · €73,195
Net result
-€19,895
2024 · €48,510
Total assets
€123,645▼ 23.2%
2024 · €160,970
Solvency
43.1%▼ 2.4pp
2024 · 45.5%
Multi-year overview
2023 to 2025, 3 financial yearsOperating result
-€21,406
2025
20232025
Net result
-€19,895
2025
lowest quarter of the sector
20232025
Equity
€53,300
▼ 27.2%
2025
middle half of the sector
20232025
Total assets
€123,645
▼ 23.2%
2025
middle half of the sector
20232025
Debt
€70,345
▼ 19.9%
2025
20232025
Working capital
-€19,681
▼ 181%
2025
middle half of the sector
20232025
Solvency
43.1%
▼ 2.4pp
2025
middle half of the sector
20232025
Current ratio
0.72
▼ 0.20
2025
lowest quarter of the sector
20232025
Return on assets (ROA)
-16.1%
▼ 46.2pp
2025
lowest quarter of the sector
20232025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202320242025
Operating result€26,331-€65,500▲ 149%-€21,406
Net result€19,685within the sector's middle half-€48,510within the sector's middle half▲ 146%-€19,895below the sector's middle half
Equity€24,685below the sector's middle half-€73,195within the sector's middle half▲ 197%€53,300within the sector's middle half▼ 27.2%
Total assets€118,670below the sector's middle half-€160,970within the sector's middle half▲ 35.6%€123,645within the sector's middle half▼ 23.2%
Debt€93,985-€87,775▼ 6.6%€70,345▼ 19.9%
Working capital€40,685within the sector's middle half--€6,999within the sector's middle half-€19,681within the sector's middle half▼ 181%
Solvency20.8%below the sector's middle half-45.5%within the sector's middle half▲ 24.7pp43.1%within the sector's middle half▼ 2.4pp
Current ratio2.45within the sector's middle half-0.92within the sector's middle half▼ 1.530.72below the sector's middle half▼ 0.20
Return on assets (ROA)16.6%within the sector's middle half-30.1%above the sector's middle half▲ 13.5pp-16.1%below the sector's middle half▼ 46.2pp
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 a loss of €21,406, after a profit of €65,500 in 2024. It is the lowest result since 2023.
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 €123,645
Fixed assets
€72,980 ▼ 9.0%
Current assets
€50,664 ▼ 37.3%
Equity and liabilities €123,645
Equity
€53,300 ▼ 27.2%
Debt
€70,345 ▼ 19.9%
Debt's share of the balance-sheet total rises from 54.5% to 56.9%. Equity and debt are lower.
Key figures and ratios
ROE
-37.3%▼
2024 · 66.3%
Debt ≤ 1 year
€70,345▼
2024 · €87,775
Income taxes
€312▼
2024 · €17,619
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Pledge on other assets, amount secured | - | €32,640 | - |
| Carrying value of the other pledged assets | - | €30,194 | - |
Source: notes to the 2023 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | - | €36,066 | - |
| Financial fixed assets | €50,000 | - | - |
| Depreciation and write-downs of the year | - | €5,873 | €7,213 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €5,873 | €7,213 | ▲ 22.8% |
| Other operating charges640/8 | €929 | €984 | €800 | ▼ 18.7% |
| Gross operating margin9900 | €27,261 | €72,357 | -€13,393 | - |
| Operating profit (loss)9901 | €26,331 | €65,500 | -€21,406 | - |
| Financial income75/76B | - | €1,849 | €1,956 | ▲ 5.8% |
| Recurring financial income75 | - | €1,849 | €1,956 | ▲ 5.8% |
| Financial charges65/66B | €85 | €1,220 | €134 | ▼ 89.0% |
| Recurring financial charges65 | €85 | €1,220 | €134 | ▼ 89.0% |
| Profit (loss) for the period before taxes9903 | €26,246 | €66,129 | -€19,583 | - |
| Income taxes67/77 | €6,562 | €17,619 | €312 | ▼ 98.2% |
| Profit (loss) for the period9904 | €19,685 | €48,510 | -€19,895 | - |
| Profit (loss) for the period to be appropriated9905 | €19,685 | €48,510 | -€19,895 | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €118,670 | €160,970 | €123,645 | ▼ 23.2% |
| Fixed assets21/28 | €50,000 | €80,194 | €72,980 | ▼ 9.0% |
| Tangible fixed assets22/27 | - | €30,194 | €22,980 | ▼ 23.9% |
| Furniture and vehicles24 | - | €30,194 | €22,980 | ▼ 23.9% |
| Financial fixed assets28 | €50,000 | €50,000 | €50,000 | = |
| Current assets29/58 | €68,670 | €80,776 | €50,664 | ▼ 37.3% |
| Amounts receivable within one year40/41 | €51,591 | €56,780 | €40,114 | ▼ 29.4% |
| Trade receivables40 | €13,201 | €21,780 | €0 | ▼ 100% |
| Other amounts receivable41 | €38,390 | €35,000 | €40,114 | ▲ 14.6% |
| Cash at bank and in hand54/58 | €17,079 | €21,217 | €10,054 | ▼ 52.6% |
| Deferred charges and accrued income490/1 | - | €2,779 | €497 | ▼ 82.1% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €118,670 | €160,970 | €123,645 | ▼ 23.2% |
| Equity10/15 | €24,685 | €73,195 | €53,300 | ▼ 27.2% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | €19,685 | €68,195 | €48,300 | ▼ 29.2% |
| Amounts payable17/49 | €93,985 | €87,775 | €70,345 | ▼ 19.9% |
| Amounts payable after more than one year17 | €66,000 | €0 | - | - |
| Financial debts170/4 | €66,000 | €0 | - | - |
| Amounts payable within one year42/48 | €27,985 | €87,775 | €70,345 | ▼ 19.9% |
| Current portion of amounts payable after more than one year42 | - | €8,314 | €0 | ▼ 100% |
| Trade debts44 | €5,211 | €10,350 | €2,218 | ▼ 78.6% |
| Suppliers440/4 | €5,211 | €10,350 | €2,218 | ▼ 78.6% |
| Taxes, remuneration and social security45 | €6,562 | €27,278 | €17,931 | ▼ 34.3% |
| Taxes450/3 | €6,562 | €27,278 | €17,931 | ▼ 34.3% |
| Other amounts payable47/48 | €16,213 | €41,834 | €50,197 | ▲ 20.0% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €19,685 | €48,510 | -€19,895 | - |
| + Depreciation and write-downs630 | - | €5,873 | €7,213 | ▲ 22.8% |
| Operating cash flow (approximation) | €19,685 | €54,382 | -€12,682 | - |
| Investment in fixed assets (approximation) | - | -€36,066 | €0 | - |
| Change in cash | - | €4,138 | -€11,163 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.