Financials · financial year 2025, micro format
Annual accounts 2025 filed on 19-06-2026 at the NBB all 3 filings
Equity
€53,043▲ 146%
2024 · €21,589
Net result
€31,454▲ 53.9%
2024 · €20,443
Total assets
€236,278▲ 12.0%
2024 · €210,989
Solvency
22.4%▲ 12.2pp
2024 · 10.2%
Multi-year overview
2023 to 2025, 3 financial yearsOperating result
€51,784
▲ 49.6%
2025
20232025
Net result
€31,454
▲ 53.9%
2025
middle half of the sector
20232025
Equity
€53,043
▲ 146%
2025
middle half of the sector
20232025
Total assets
€236,278
▲ 12.0%
2025
middle half of the sector
20232025
Debt
€183,235
▼ 3.3%
2025
20232025
Working capital
-€4,827
▲ 62.3%
2025
middle half of the sector
20232025
Solvency
22.4%
▲ 12.2pp
2025
middle half of the sector
20232025
Current ratio
0.91
▲ 0.26
2025
middle half of the sector
20232025
Return on assets (ROA)
13.3%
▲ 3.6pp
2025
middle half of the sector
20232025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202320242025
Operating result-€1,852-€34,619€51,784▲ 49.6%
Net result-€1,854below the sector's middle half-€20,443within the sector's middle half€31,454within the sector's middle half▲ 53.9%
Equity€1,146below the sector's middle half-€21,589below the sector's middle half▲ 19×€53,043within the sector's middle half▲ 146%
Total assets€1,168below the sector's middle half-€210,989within the sector's middle half▲ 181×€236,278within the sector's middle half▲ 12.0%
Debt€22-€189,400▲ 8,609×€183,235▼ 3.3%
Working capital€1,146within the sector's middle half--€12,798within the sector's middle half-€4,827within the sector's middle half▲ 62.3%
Solvency98.1%above the sector's middle half-10.2%below the sector's middle half▼ 87.9pp22.4%within the sector's middle half▲ 12.2pp
Current ratio0.65below the sector's middle half0.91within the sector's middle half▲ 0.26
Return on assets (ROA)9.7%within the sector's middle half13.3%within the sector's middle half▲ 3.6pp
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 50% higher than in 2024 and the highest since 2023. It is the second rise in a row.
Turnover and EBIT margin are not published. The micro 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 €236,278
Fixed assets
€187,786 ▲ 0.4%
Current assets
€48,492 ▲ 103%
Equity and liabilities €236,278
Equity
€53,043 ▲ 146%
Debt
€183,235 ▼ 3.3%
Debt's share of the balance-sheet total falls from 89.8% to 77.6%. Equity is higher and debt is lower.
Key figures and ratios
ROE
59.3%▼
2024 · 94.7%
Debt ≤ 1 year
€53,319▲
2024 · €36,687
Debt > 1 year
€129,916▼
2024 · €152,713
Income taxes
€13,019▲
2024 · €8,721
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | - | €3,644 | €1,826 |
| Financial fixed assets | - | €183,957 | - |
| Depreciation and write-downs of the year | - | €501 | €1,140 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2024 to 2025 · 2 entries · €793 awarded · €793 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €0 | €793 |
| 2024 | 1 | €793 | €0 |
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €501 | €1,140 | ▲ 128% |
| Other operating charges640/8 | - | - | €192 | - |
| Gross operating margin9900 | -€1,852 | €35,120 | €53,117 | ▲ 51.2% |
| Operating profit (loss)9901 | -€1,852 | €34,619 | €51,784 | ▲ 49.6% |
| Financial income75/76B | - | €2 | - | - |
| Recurring financial income75 | - | €2 | - | - |
| Financial charges65/66B | €3 | €5,456 | €7,310 | ▲ 34.0% |
| Recurring financial charges65 | €3 | €5,456 | €7,310 | ▲ 34.0% |
| Profit (loss) for the period before taxes9903 | -€1,854 | €29,165 | €44,473 | ▲ 52.5% |
| Income taxes67/77 | - | €8,721 | €13,019 | ▲ 49.3% |
| Profit (loss) for the period9904 | -€1,854 | €20,443 | €31,454 | ▲ 53.9% |
| Profit (loss) for the period to be appropriated9905 | -€1,854 | €20,443 | €31,454 | ▲ 53.9% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €1,168 | €210,989 | €236,278 | ▲ 12.0% |
| Fixed assets21/28 | - | €187,100 | €187,786 | ▲ 0.4% |
| Tangible fixed assets22/27 | - | €3,143 | €3,829 | ▲ 21.8% |
| Land and buildings22 | - | €1,946 | €1,521 | ▼ 21.8% |
| Furniture and vehicles24 | - | €1,198 | €2,308 | ▲ 92.7% |
| Financial fixed assets28 | - | €183,957 | €183,957 | = |
| Current assets29/58 | €1,168 | €23,889 | €48,492 | ▲ 103% |
| Amounts receivable within one year40/41 | €543 | €11,596 | €12,201 | ▲ 5.2% |
| Trade receivables40 | €195 | €11,596 | €12,201 | ▲ 5.2% |
| Other amounts receivable41 | €348 | - | - | - |
| Cash at bank and in hand54/58 | €625 | €12,293 | €36,292 | ▲ 195% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €1,168 | €210,989 | €236,278 | ▲ 12.0% |
| Equity10/15 | €1,146 | €21,589 | €53,043 | ▲ 146% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | = |
| Reserves13 | - | €18,589 | €50,043 | ▲ 169% |
| Distributable reserves133 | - | €18,589 | €50,043 | ▲ 169% |
| Profit (loss) carried forward14 | -€1,854 | - | - | - |
| Amounts payable17/49 | €22 | €189,400 | €183,235 | ▼ 3.3% |
| Amounts payable after more than one year17 | - | €152,713 | €129,916 | ▼ 14.9% |
| Financial debts170/4 | - | €152,713 | €129,916 | ▼ 14.9% |
| Amounts payable within one year42/48 | €22 | €36,687 | €53,319 | ▲ 45.3% |
| Current portion of amounts payable after more than one year42 | - | €21,921 | €22,797 | ▲ 4.0% |
| Trade debts44 | €0 | €2,323 | €3,370 | ▲ 45.1% |
| Suppliers440/4 | €0 | €2,323 | €3,370 | ▲ 45.1% |
| Taxes, remuneration and social security45 | - | €9,944 | €23,695 | ▲ 138% |
| Taxes450/3 | - | €9,944 | €23,695 | ▲ 138% |
| Other amounts payable47/48 | €22 | €2,499 | €3,457 | ▲ 38.3% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,854 | €20,443 | €31,454 | ▲ 53.9% |
| + Depreciation and write-downs630 | - | €501 | €1,140 | ▲ 128% |
| Operating cash flow (approximation) | -€1,854 | €20,944 | €32,595 | ▲ 55.6% |
| Investment in fixed assets (approximation) | - | - | -€1,826 | - |
| Change in cash | - | €11,668 | €23,998 | ▲ 106% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.