Financials · financial year 2025, micro format
Annual accounts 2025 filed on 06-02-2026 PDF all 9 filings
Equity
€61,311▼ 5.7%
2024 · €65,001
Net result
€21,671▲ 15.6%
2024 · €18,753
Total assets
€96,189▲ 9.0%
2024 · €88,236
Solvency
63.7%▼ 9.9pp
2024 · 73.7%
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€28,269
▲ 14.0%
2025
20192025
Net result
€21,671
▲ 15.6%
2025
middle half of the sector
20192025
Equity
€61,311
▼ 5.7%
2025
middle half of the sector
20192025
Total assets
€96,189
▲ 9.0%
2025
lowest quarter of the sector
20192025
Debt
€34,878
▲ 50.1%
2025
20192025
Working capital
€52,197
▲ 1.9%
2025
middle half of the sector
20192025
Solvency
63.7%
▼ 9.9pp
2025
middle half of the sector
20192025
Current ratio
2.50
▼ 0.71
2025
middle half of the sector
20192025
Return on assets (ROA)
22.5%
▲ 1.3pp
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€5,214-€15,856€26,013▲ 64.1%€18,361▼ 29.4%€19,437▲ 5.9%€24,800▲ 27.6%€28,269▲ 14.0%
Net result-€5,149-€12,439within the sector's middle half€18,183within the sector's middle half▲ 46.2%€12,490within the sector's middle half▼ 31.3%€14,438within the sector's middle half▲ 15.6%€18,753within the sector's middle half▲ 29.9%€21,671within the sector's middle half▲ 15.6%
Equity€37,853-€46,692within the sector's middle half▲ 23.4%€64,075within the sector's middle half▲ 37.2%€56,842within the sector's middle half▼ 11.3%€65,001within the sector's middle half▲ 14.4%€65,001within the sector's middle half=€61,311within the sector's middle half▼ 5.7%
Total assets€44,266-€57,104below the sector's middle half▲ 29.0%€77,050below the sector's middle half▲ 34.9%€86,573below the sector's middle half▲ 12.4%€83,128below the sector's middle half▼ 4.0%€88,236below the sector's middle half▲ 6.1%€96,189below the sector's middle half▲ 9.0%
Debt€6,413-€10,412▲ 62.4%€12,974▲ 24.6%€29,730▲ 129%€18,127▼ 39.0%€23,235▲ 28.2%€34,878▲ 50.1%
Working capital€33,656-€43,140within the sector's middle half▲ 28.2%€62,946within the sector's middle half▲ 45.9%€46,422within the sector's middle half▼ 26.3%€45,452within the sector's middle half▼ 2.1%€51,208within the sector's middle half▲ 12.7%€52,197within the sector's middle half▲ 1.9%
Solvency85.5%-81.8%above the sector's middle half▼ 3.7pp83.2%above the sector's middle half▲ 1.4pp65.7%within the sector's middle half▼ 17.5pp78.2%above the sector's middle half▲ 12.5pp73.7%within the sector's middle half▼ 4.5pp63.7%within the sector's middle half▼ 9.9pp
Current ratio6.25-5.14above the sector's middle half▼ 1.105.85above the sector's middle half▲ 0.712.56within the sector's middle half▼ 3.293.51within the sector's middle half▲ 0.953.20within the sector's middle half▼ 0.302.50within the sector's middle half▼ 0.71
Return on assets (ROA)-11.6%-21.8%above the sector's middle half▲ 33.4pp23.6%above the sector's middle half▲ 1.8pp14.4%within the sector's middle half▼ 9.2pp17.4%within the sector's middle half▲ 2.9pp21.3%within the sector's middle half▲ 3.9pp22.5%within the sector's middle half▲ 1.3pp
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 14% higher than in 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
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 €96,189
Fixed assets
€9,156 ▼ 33.6%
Current assets
€87,032 ▲ 16.9%
Equity and liabilities €96,189
Equity
€61,311 ▼ 5.7%
Debt
€34,878 ▲ 50.1%
Debt's share of the balance-sheet total rises from 26.3% to 36.3%. Equity is lower and debt is higher.
Key figures and ratios
ROE
35.3%▲
2024 · 28.9%
Debt ≤ 1 year
€34,835▲
2024 · €23,235
Income taxes
€6,476▲
2024 · €5,938
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-09-2021 | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €10,231 | €14,520 | - | €450 |
| Depreciation and write-downs of the year | €2,422 | €941 | €5,391 | €5,757 | €5,087 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,579 | €2,262 | €2,422 | €941 | €5,391 | €5,757 | €5,087 | ▼ 11.6% |
| Other operating charges640/8 | - | - | €468 | €1,541 | €592 | €575 | €531 | ▼ 7.6% |
| Gross operating margin9900 | -€2,105 | €18,635 | €28,902 | €20,843 | €25,420 | €31,132 | €33,887 | ▲ 8.9% |
| Operating profit (loss)9901 | -€5,214 | €15,856 | €26,013 | €18,361 | €19,437 | €24,800 | €28,269 | ▲ 14.0% |
| Financial income75/76B | - | - | €0 | €0 | €1,241 | €3 | €4 | ▲ 22.3% |
| Recurring financial income75 | €230 | €0 | €0 | €0 | €1 | €3 | €4 | ▲ 22.3% |
| Non-recurring financial income76B | - | - | - | - | €1,240 | - | - | - |
| Financial charges65/66B | - | - | €66 | €118 | €117 | €112 | €126 | ▲ 12.5% |
| Recurring financial charges65 | €49 | €61 | €66 | €118 | €117 | €112 | €126 | ▲ 12.5% |
| Profit (loss) for the period before taxes9903 | -€5,033 | €15,795 | €25,947 | €18,243 | €20,561 | €24,691 | €28,147 | ▲ 14.0% |
| Income taxes67/77 | €116 | €3,356 | €7,763 | €5,753 | €6,123 | €5,938 | €6,476 | ▲ 9.1% |
| Profit (loss) for the period9904 | -€5,149 | €12,439 | €18,183 | €12,490 | €14,438 | €18,753 | €21,671 | ▲ 15.6% |
| Profit (loss) for the period to be appropriated9905 | -€5,149 | €12,439 | €18,183 | €12,490 | €14,438 | €18,753 | €21,671 | ▲ 15.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €44,266 | €57,104 | €77,050 | €86,573 | €83,128 | €88,236 | €96,189 | ▲ 9.0% |
| Fixed assets21/28 | €4,197 | €3,552 | €1,130 | €10,420 | €19,550 | €13,793 | €9,156 | ▼ 33.6% |
| Tangible fixed assets22/27 | €4,197 | €3,552 | €1,130 | €10,420 | €19,550 | €13,793 | €9,156 | ▼ 33.6% |
| Plant, machinery and equipment23 | - | - | €1,130 | €807 | €483 | €160 | - | - |
| Furniture and vehicles24 | - | - | - | €9,614 | €19,066 | €13,633 | €9,156 | ▼ 32.8% |
| Current assets29/58 | €40,068 | €53,552 | €75,920 | €76,153 | €63,579 | €74,443 | €87,032 | ▲ 16.9% |
| Amounts receivable within one year40/41 | €17,957 | €8,858 | €10,704 | €12,162 | €15,529 | €12,462 | €18,672 | ▲ 49.8% |
| Trade receivables40 | - | - | €10,627 | €9,162 | €11,238 | €12,075 | €13,648 | ▲ 13.0% |
| Other amounts receivable41 | - | - | €77 | €3,000 | €4,291 | €386 | €5,023 | ▲ 13× |
| Cash at bank and in hand54/58 | €19,790 | €44,694 | €62,410 | €61,046 | €44,927 | €58,810 | €66,969 | ▲ 13.9% |
| Deferred charges and accrued income490/1 | - | - | €2,806 | €2,945 | €3,123 | €3,172 | €1,392 | ▼ 56.1% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €44,266 | €57,104 | €77,050 | €86,573 | €83,128 | €88,236 | €96,189 | ▲ 9.0% |
| Equity10/15 | €37,853 | €46,692 | €64,075 | €56,842 | €65,001 | €65,001 | €61,311 | ▼ 5.7% |
| Contributions10/11 | €12,400 | - | €12,400 | €12,400 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €30,602 | €34,292 | €51,675 | €44,442 | €46,401 | €46,401 | €42,711 | ▼ 8.0% |
| Non-distributable reserves130/1 | - | - | €1,860 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | €1,860 | - | - | - | - | - |
| Distributable reserves133 | - | - | €49,815 | €44,442 | €46,401 | €46,401 | €42,711 | ▼ 8.0% |
| Profit (loss) carried forward14 | -€5,149 | - | - | - | - | - | - | - |
| Amounts payable17/49 | €6,413 | €10,412 | €12,974 | €29,730 | €18,127 | €23,235 | €34,878 | ▲ 50.1% |
| Amounts payable within one year42/48 | €6,413 | €10,412 | €12,974 | €29,730 | €18,127 | €23,235 | €34,835 | ▲ 49.9% |
| Trade debts44 | - | €688 | €221 | €771 | - | - | €224 | - |
| Suppliers440/4 | - | - | €221 | €771 | - | - | €224 | - |
| Taxes, remuneration and social security45 | - | - | €11,953 | €9,232 | €5,648 | €4,481 | €8,714 | ▲ 94.5% |
| Taxes450/3 | - | - | €11,953 | €9,232 | €5,648 | €4,481 | €8,714 | ▲ 94.5% |
| Other amounts payable47/48 | - | - | €800 | €19,728 | €12,480 | €18,753 | €25,897 | ▲ 38.1% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €42 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,149 | €12,439 | €18,183 | €12,490 | €14,438 | €18,753 | €21,671 | ▲ 15.6% |
| + Depreciation and write-downs630 | €2,579 | €2,262 | €2,422 | €941 | €5,391 | €5,757 | €5,087 | ▼ 11.6% |
| Operating cash flow (approximation) | -€2,570 | €14,701 | €20,605 | €13,430 | €19,829 | €24,510 | €26,758 | ▲ 9.2% |
| Investment in fixed assets (approximation) | - | -€1,617 | €0 | -€10,231 | -€14,520 | €0 | -€450 | - |
| Change in cash | - | €24,904 | €17,716 | -€1,365 | -€16,119 | €13,883 | €8,159 | ▼ 41.2% |
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 (9)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 06-02-2026 | 2026-00035088 | |
| 30-09-2024 | micro format | 17-12-2024 | 2024-00623128 | |
| 30-09-2023 | micro format | 04-03-2024 | 2024-00041900 | |
| 30-09-2022 | micro format | 09-03-2023 | 2023-00040153 | |
| 30-09-2021 | micro format | 05-04-2022 | 2022-20002456 | |
| 30-09-2020 | micro format | 30-04-2021 | 2021-13000450 | |
| 30-09-2019 | micro format | 07-04-2020 | 2020-08900327 | |
| 30-09-2018 | micro format | 05-04-2019 | 2019-09500438 | |
| 30-09-2017 | micro format | 03-04-2018 | 2018-09100471 |