RFMS
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 60 days after the deadline Filed on 29 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00531083.
Annual accounts 2025 filed on 29-09-2026 at the NBB all 10 filings
Equity
€328,366▲ 19.1%
2024 · €275,769
Net result
€52,597▲ 153%
2024 · €20,816
Total assets
€336,746▲ 9.2%
2024 · €308,475
Solvency
97.5%▲ 8.1pp
2024 · 89.4%
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€12,938
▲ 69.2%
2025
20182025
Net result
€52,597
▲ 153%
2025
middle half of the sector
20182025
Equity
€328,366
▲ 19.1%
2025
middle half of the sector
20182025
Total assets
€336,746
▲ 9.2%
2025
middle half of the sector
20182025
Debt
€8,380
▼ 74.4%
2025
20182025
Working capital
€216,830
▲ 35.4%
2025
highest quarter of the sector
20182025
Solvency
97.5%
▲ 8.1pp
2025
highest quarter of the sector
20182025
Current ratio
27.07
▲ 21.17
2025
highest quarter of the sector
20182025
Return on assets (ROA)
15.6%
▲ 8.9pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€0.004m--€0.03m▼ 575%-€0.03m▼ 0.2%-€0.04m▼ 35.2%-€0.06m▼ 54.5%-€0.05m▲ 17.1%-€0.04m▲ 12.4%-€0.01m▲ 69.2%
Net result-€0.004m--€0.01m▼ 223%€0.02mwithin the sector's middle half-€0.02mbelow the sector's middle half-€0.4mbelow the sector's middle half▼ 1,924%-€0.4mbelow the sector's middle half▼ 14.0%€0.02mwithin the sector's middle half€0.05mwithin the sector's middle half▲ 153%
Equity€1.6m-€1.5m▼ 0.7%€1.6mabove the sector's middle half▲ 1.1%€1.5mabove the sector's middle half▼ 1.2%€0.7mabove the sector's middle half▼ 56.3%€0.3mwithin the sector's middle half▼ 62.3%€0.3mwithin the sector's middle half▲ 8.2%€0.3mwithin the sector's middle half▲ 19.1%
Total assets€1.6m-€1.6m▼ 0.2%€1.6mabove the sector's middle half▲ 0.3%€1.6mabove the sector's middle half▲ 0.4%€0.9mabove the sector's middle half▼ 41.2%€0.4mwithin the sector's middle half▼ 61.9%€0.3mwithin the sector's middle half▼ 12.9%€0.3mwithin the sector's middle half▲ 9.2%
Debt€0.01m-€0.02m▲ 70.0%€0.01m▼ 56.5%€0.03m▲ 260%€0.3m▲ 632%€0.1m▼ 60.8%€0.03m▼ 67.0%€0.008m▼ 74.4%
Working capital€0.4m-€0.3m▼ 5.2%€0.4mabove the sector's middle half▲ 4.5%€0.3mabove the sector's middle half▼ 6.9%€0.02mwithin the sector's middle half▼ 94.9%€0.1mwithin the sector's middle half▲ 687%€0.2mwithin the sector's middle half▲ 20.3%€0.2mabove the sector's middle half▲ 35.4%
Solvency99.2%-98.6%▼ 0.6pp99.4%above the sector's middle half▲ 0.8pp97.8%above the sector's middle half▼ 1.6pp72.7%within the sector's middle half▼ 25.1pp72.0%within the sector's middle half▼ 0.7pp89.4%above the sector's middle half▲ 17.4pp97.5%above the sector's middle half▲ 8.1pp
Current ratio28.51-16.34▼ 12.1737.88above the sector's middle half▲ 21.5410.55above the sector's middle half▼ 27.331.07within the sector's middle half▼ 9.482.34within the sector's middle half▲ 1.285.91above the sector's middle half▲ 3.5627.07above the sector's middle half▲ 21.17
Return on assets (ROA)-0.2%--0.7%▼ 0.5pp1.1%within the sector's middle half▲ 1.8pp-1.2%below the sector's middle half▼ 2.2pp-39.7%below the sector's middle half▼ 38.6pp-118.8%below the sector's middle half▼ 79.1pp6.7%within the sector's middle half▲ 125.5pp15.6%within the sector's middle half▲ 8.9pp
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 €12,938, smaller than the loss of €42,069 in 2024.
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 €336,746
Fixed assets
€111,600 ▼ 3.5%
Current assets
€225,146 ▲ 16.8%
Equity and liabilities €336,746
Equity
€328,366 ▲ 19.1%
Debt
€8,380 ▼ 74.4%
Debt's share of the balance-sheet total falls from 10.6% to 2.5%. Equity is higher and debt is lower.
Key figures and ratios
ROE
16.0%▲
2024 · 7.5%
Debt ≤ 1 year
€8,316▼
2024 · €32,642
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Overdue debts
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Overdue tax debts | €2,992 | - | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €8,678 | €12,892 | €5,650 | - | €2,154 |
| Financial fixed assets | - | - | €100,000 | - | - |
| Depreciation and write-downs of the year | €2,454 | €4,655 | €6,428 | €6,143 | €6,244 |
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 | - | €1,100 | €1,324 | €2,454 | €4,655 | €6,428 | €6,143 | €6,244 | ▲ 1.6% |
| Other operating charges640/8 | - | - | - | €969 | €970 | - | €2,528 | €520 | ▼ 79.4% |
| Gross operating margin9900 | -€3,138 | -€26,479 | -€24,558 | -€34,075 | -€52,311 | -€41,582 | -€33,398 | -€6,175 | ▲ 81.5% |
| Operating profit (loss)9901 | -€4,102 | -€27,677 | -€27,730 | -€37,498 | -€57,937 | -€48,010 | -€42,069 | -€12,938 | ▲ 69.2% |
| Financial income75/76B | - | - | - | €19,478 | €696 | €4,536 | €5,444 | €7,255 | ▲ 33.3% |
| Recurring financial income75 | - | €14,168 | €44,518 | €19,478 | €696 | €4,536 | €5,444 | €7,255 | ▲ 33.3% |
| Financial charges65/66B | - | - | - | €204 | €311,593 | €377,109 | -€57,442 | -€58,280 | ▼ 1.5% |
| Recurring financial charges65 | €39 | €38 | €213 | €204 | €208 | €342 | €270 | €190 | ▼ 29.8% |
| Non-recurring financial charges66B | - | - | - | - | €311,385 | €376,767 | -€57,713 | -€58,469 | ▼ 1.3% |
| Profit (loss) for the period before taxes9903 | -€4,142 | -€13,547 | €16,575 | -€18,224 | -€368,834 | -€420,582 | €20,816 | €52,597 | ▲ 153% |
| Income taxes67/77 | -€549 | -€1,947 | - | - | - | - | - | - | - |
| Profit (loss) for the period9904 | -€3,592 | -€11,600 | €16,575 | -€18,224 | -€368,834 | -€420,582 | €20,816 | €52,597 | ▲ 153% |
| Profit (loss) for the period to be appropriated9905 | -€3,592 | -€11,600 | €16,575 | -€18,224 | -€368,834 | -€420,582 | €20,816 | €52,597 | ▲ 153% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €1.6m | €1.6m | €1.6m | €1.6m | €0.9m | €0.4m | €0.3m | €0.3m | ▲ 9.2% |
| Fixed assets21/28 | €1.2m | €1.2m | €1.2m | €1.2m | €0.7m | €0.1m | €0.1m | €0.1m | ▼ 3.5% |
| Intangible fixed assets21 | - | €0.002m | €0.003m | €0.002m | €0.001m | €476 | €176 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | - | €0.005m | €0.005m | €0.01m | €0.02m | €0.02m | €0.02m | €0.01m | ▼ 25.2% |
| Furniture and vehicles24 | - | - | - | €0.01m | €0.02m | €0.02m | €0.02m | €0.01m | ▼ 25.2% |
| Financial fixed assets28 | €1.2m | €1.2m | €1.2m | €1.2m | €0.6m | €0.1m | €0.1m | €0.1m | = |
| Current assets29/58 | €0.4m | €0.4m | €0.4m | €0.4m | €0.3m | €0.2m | €0.2m | €0.2m | ▲ 16.8% |
| Amounts receivable within one year40/41 | - | €0.3m | €0.3m | €0.3m | €0.1m | €0.1m | €0.2m | €0.2m | ▲ 27.2% |
| Trade receivables40 | - | - | - | €0.03m | €0.08m | €0.02m | €0.1m | €0.1m | ▲ 1.0% |
| Other amounts receivable41 | - | - | - | €0.3m | €0.06m | €0.1m | €0.04m | €0.09m | ▲ 99.0% |
| Cash at bank and in hand54/58 | €0.4m | €0.02m | €0.005m | €0.03m | €0.1m | €0.1m | €0.02m | €0.001m | ▼ 94.1% |
| Deferred charges and accrued income490/1 | - | - | - | €0.02m | €0.001m | €0.005m | €0.01m | €0.02m | ▲ 69.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €1.6m | €1.6m | €1.6m | €1.6m | €0.9m | €0.4m | €0.3m | €0.3m | ▲ 9.2% |
| Equity10/15 | €1.6m | €1.5m | €1.6m | €1.5m | €0.7m | €0.3m | €0.3m | €0.3m | ▲ 19.1% |
| Contributions10/11 | €1.5m | €1.5m | - | €1.5m | €1.0m | €1.0m | €1.0m | €1.0m | = |
| Reserves13 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Non-distributable reserves130/1 | - | - | - | €0.06m | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.06m | - | - | - | - | - |
| Distributable reserves133 | - | - | - | €149 | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Profit (loss) carried forward14 | -€0.004m | -€0.02m | - | -€0.02m | -€0.4m | -€0.8m | -€0.8m | -€0.7m | ▲ 6.7% |
| Amounts payable17/49 | €0.01m | €0.02m | €0.01m | €0.03m | €0.3m | €0.1m | €0.03m | €0.008m | ▼ 74.4% |
| Amounts payable within one year42/48 | €0.01m | €0.02m | €0.01m | €0.03m | €0.3m | €0.1m | €0.03m | €0.008m | ▼ 74.5% |
| Trade debts44 | - | €0.01m | €0.003m | €0.01m | €0.007m | €0.006m | €0.01m | €0.005m | ▼ 61.8% |
| Suppliers440/4 | - | - | - | €0.01m | €0.007m | €0.006m | €0.01m | €0.005m | ▼ 61.8% |
| Taxes, remuneration and social security45 | - | - | - | €0.006m | €241 | €0.001m | - | - | - |
| Taxes450/3 | - | - | - | €0.006m | €241 | €0.001m | - | - | - |
| Other amounts payable47/48 | - | - | - | €0.02m | €0.2m | €0.09m | €0.02m | €0.003m | ▼ 83.5% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €64 | €64 | = |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,592 | -€11,600 | €16,575 | -€18,224 | -€368,834 | -€420,582 | €20,816 | €52,597 | ▲ 153% |
| + Depreciation and write-downs630 | - | €1,100 | €1,324 | €2,454 | €4,655 | €6,428 | €6,143 | €6,244 | ▲ 1.6% |
| Operating cash flow (approximation) | -€3,592 | -€10,500 | €17,898 | -€15,770 | -€364,178 | -€414,155 | €26,960 | €58,841 | ▲ 118% |
| Investment in fixed assets (approximation) | - | -€8,000 | -€2,574 | -€8,678 | €551,108 | €530,350 | €0 | -€2,154 | - |
| Change in cash | - | -€346,551 | -€18,998 | €28,351 | €90,572 | -€20,227 | -€83,545 | -€19,030 | ▲ 77.2% |
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 (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 29-09-2026 | 2026-00531083 | |
| 31-12-2024 | micro format | 28-09-2025 | 2025-00511812 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00445339 | |
| 31-12-2022 | micro format | 30-08-2023 | 2023-00379676 | |
| 31-12-2021 | micro format | 30-07-2022 | 2022-20251770 | |
| 31-12-2020 | micro format | 22-07-2021 | 2021-38900091 | |
| 31-12-2019 | micro format | 29-10-2020 | 2020-64600450 | |
| 31-12-2018 | micro format | 20-07-2019 | 2019-35600416 | |
| 31-12-2017 | micro format | 19-07-2018 | 2018-35300601 | |
| 31-12-2016 | abbreviated format | 17-07-2017 | 2017-31800243 |