Financials · financial year 2025, micro format
Annual accounts 2025 filed on 18-06-2026 at the NBB all 3 filings
Equity
€222,682▲ 101%
2024 · €110,937
Net result
€111,744▲ 80.4%
2024 · €61,942
Total assets
€263,820▲ 89.5%
2024 · €139,235
Solvency
84.4%▲ 4.7pp
2024 · 79.7%
Multi-year overview
2023 to 2025, 3 financial yearsOperating result
€144,386
▲ 80.4%
2025
20232025
Net result
€111,744
▲ 80.4%
2025
highest quarter of the sector
20232025
Equity
€222,682
▲ 101%
2025
middle half of the sector
20232025
Total assets
€263,820
▲ 89.5%
2025
middle half of the sector
20232025
Debt
€41,139
▲ 45.4%
2025
20232025
Working capital
€182,912
▲ 85.2%
2025
highest quarter of the sector
20232025
Solvency
84.4%
▲ 4.7pp
2025
highest quarter of the sector
20232025
Current ratio
5.45
▲ 0.96
2025
highest quarter of the sector
20232025
Return on assets (ROA)
42.4%
▼ 2.1pp
2025
highest 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€64,007-€80,054▲ 25.1%€144,386▲ 80.4%
Net result€49,327within the sector's middle half-€61,942within the sector's middle half▲ 25.6%€111,744above the sector's middle half▲ 80.4%
Equity€50,661within the sector's middle half-€110,937within the sector's middle half▲ 119%€222,682within the sector's middle half▲ 101%
Total assets€86,709below the sector's middle half-€139,235within the sector's middle half▲ 60.6%€263,820within the sector's middle half▲ 89.5%
Debt€36,048-€28,298▼ 21.5%€41,139▲ 45.4%
Working capital€42,382within the sector's middle half-€98,767within the sector's middle half▲ 133%€182,912above the sector's middle half▲ 85.2%
Solvency58.4%within the sector's middle half-79.7%above the sector's middle half▲ 21.2pp84.4%above the sector's middle half▲ 4.7pp
Current ratio2.18within the sector's middle half-4.49above the sector's middle half▲ 2.315.45above the sector's middle half▲ 0.96
Return on assets (ROA)56.9%above the sector's middle half-44.5%above the sector's middle half▼ 12.4pp42.4%above the sector's middle half▼ 2.1pp
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 80% 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 €263,820
Fixed assets
€39,769 ▲ 227%
Current assets
€224,051 ▲ 76.3%
Equity and liabilities €263,820
Equity
€222,682 ▲ 101%
Debt
€41,139 ▲ 45.4%
Debt's share of the balance-sheet total falls from 20.3% to 15.6%. Equity and debt are higher.
Key figures and ratios
ROE
50.2%▼
2024 · 55.8%
Debt ≤ 1 year
€41,139▲
2024 · €28,298
Income taxes
€32,555▲
2024 · €16,881
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 | €7,927 | €4,739 | €35,867 |
| Financial fixed assets | €375 | - | €0 |
| Depreciation and write-downs of the year | €23 | €848 | €8,268 |
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 | €23 | €848 | €8,268 | ▲ 875% |
| Other operating charges640/8 | - | - | €120 | - |
| Gross operating margin9900 | €64,030 | €80,902 | €152,774 | ▲ 88.8% |
| Operating profit (loss)9901 | €64,007 | €80,054 | €144,386 | ▲ 80.4% |
| Financial charges65/66B | €1,408 | €1,231 | €86 | ▼ 93.0% |
| Recurring financial charges65 | €1,408 | €1,231 | €86 | ▼ 93.0% |
| Profit (loss) for the period before taxes9903 | €62,600 | €78,823 | €144,299 | ▲ 83.1% |
| Income taxes67/77 | €13,273 | €16,881 | €32,555 | ▲ 92.8% |
| Profit (loss) for the period9904 | €49,327 | €61,942 | €111,744 | ▲ 80.4% |
| Profit (loss) for the period to be appropriated9905 | €49,327 | €61,942 | €111,744 | ▲ 80.4% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €86,709 | €139,235 | €263,820 | ▲ 89.5% |
| Fixed assets21/28 | €8,279 | €12,170 | €39,769 | ▲ 227% |
| Tangible fixed assets22/27 | €7,904 | €11,795 | €39,394 | ▲ 234% |
| Plant, machinery and equipment23 | €7,904 | €11,036 | €9,847 | ▼ 10.8% |
| Furniture and vehicles24 | - | €759 | €29,547 | ▲ 39× |
| Financial fixed assets28 | €375 | €375 | €375 | = |
| Current assets29/58 | €78,430 | €127,065 | €224,051 | ▲ 76.3% |
| Amounts receivable within one year40/41 | €167 | €19,153 | €47,299 | ▲ 147% |
| Trade receivables40 | - | €18,731 | €43,624 | ▲ 133% |
| Other amounts receivable41 | €167 | €422 | €3,675 | ▲ 771% |
| Cash at bank and in hand54/58 | €77,238 | €106,890 | €175,730 | ▲ 64.4% |
| Deferred charges and accrued income490/1 | €1,025 | €1,022 | €1,022 | = |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €86,709 | €139,235 | €263,820 | ▲ 89.5% |
| Equity10/15 | €50,661 | €110,937 | €222,682 | ▲ 101% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | = |
| Reserves13 | €47,661 | €107,937 | €219,682 | ▲ 104% |
| Distributable reserves133 | €47,661 | €107,937 | €219,682 | ▲ 104% |
| Profit (loss) carried forward14 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €36,048 | €28,298 | €41,139 | ▲ 45.4% |
| Amounts payable within one year42/48 | €36,048 | €28,298 | €41,139 | ▲ 45.4% |
| Trade debts44 | €12,924 | €132 | €174 | ▲ 31.9% |
| Suppliers440/4 | €12,924 | €132 | €174 | ▲ 31.9% |
| Taxes, remuneration and social security45 | €21,958 | €26,999 | €40,965 | ▲ 51.7% |
| Taxes450/3 | €21,958 | €26,999 | €40,965 | ▲ 51.7% |
| Other amounts payable47/48 | €1,166 | €1,166 | €0 | ▼ 100% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €49,327 | €61,942 | €111,744 | ▲ 80.4% |
| + Depreciation and write-downs630 | €23 | €848 | €8,268 | ▲ 875% |
| Operating cash flow (approximation) | €49,350 | €62,790 | €120,013 | ▲ 91.1% |
| Investment in fixed assets (approximation) | - | -€4,739 | -€35,867 | ▼ 657% |
| Change in cash | - | €29,652 | €68,840 | ▲ 132% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.