Financials · financial year 2025, micro format
Annual accounts 2025 filed on 18-06-2026 at the NBB all 15 filings
Equity
€1.0m▲ 18.8%
2024 · €845,658
Net result
€159,079▼ 37.5%
2024 · €254,443
Total assets
€3.9m▲ 4.5%
2024 · €3.7m
Solvency
25.7%▲ 3.1pp
2024 · 22.6%
In the rankings
#5 company by total assets in Merksplas, Finance and insurance sector#5 company by equity in Merksplas, Finance and insurance sector#10 oldest company in Merksplas, Finance and insurance sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€231,016
▼ 30.1%
2025
20182025
Net result
€159,079
▼ 37.5%
2025
highest quarter of the sector
20182025
Equity
€1.0m
▲ 18.8%
2025
highest quarter of the sector
20182025
Total assets
€3.9m
▲ 4.5%
2025
highest quarter of the sector
20182025
Debt
€2.9m
▲ 0.4%
2025
20182025
Working capital
-€2.6m
▲ 5.0%
2025
lowest quarter of the sector
20182025
Solvency
25.7%
▲ 3.1pp
2025
middle half of the sector
20182025
Current ratio
0.09
▲ 0.06
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
4.1%
▼ 2.7pp
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€0.09m-€0.07m▼ 21.1%€0.09m▲ 33.0%€0.04m▼ 58.6%€0.1m▲ 167%€0.2m▲ 74.0%€0.3m▲ 89.0%€0.2m▼ 30.1%
Net result€0.06m-€0.05m▼ 22.2%€0.06mwithin the sector's middle half▲ 36.5%€0.02mwithin the sector's middle half▼ 62.9%€0.07mwithin the sector's middle half▲ 198%€0.1mabove the sector's middle half▲ 77.0%€0.3mabove the sector's middle half▲ 109%€0.2mabove the sector's middle half▼ 37.5%
Equity€0.3m-€0.3m▲ 16.8%€0.4mwithin the sector's middle half▲ 19.7%€0.4mabove the sector's middle half▲ 6.1%€0.5mabove the sector's middle half▲ 17.1%€0.6mabove the sector's middle half▲ 25.9%€0.8mabove the sector's middle half▲ 43.0%€1.0mabove the sector's middle half▲ 18.8%
Total assets€0.8m-€1.0m▲ 22.9%€0.9mabove the sector's middle half▼ 4.4%€2.5mabove the sector's middle half▲ 166%€2.6mabove the sector's middle half▲ 2.8%€2.7mabove the sector's middle half▲ 4.4%€3.7mabove the sector's middle half▲ 37.8%€3.9mabove the sector's middle half▲ 4.5%
Debt€0.5m-€0.7m▲ 26.0%€0.6m▼ 15.6%€2.1m▲ 272%€2.1m▲ 0.1%€2.1m▼ 0.3%€2.8m▲ 34.2%€2.9m▲ 0.4%
Working capital-€0.3m--€0.4m▼ 72.8%-€0.4mbelow the sector's middle half▲ 17.9%-€1.6mbelow the sector's middle half▼ 343%-€1.6mbelow the sector's middle half▼ 0.9%-€1.8mbelow the sector's middle half▼ 13.1%-€2.7mbelow the sector's middle half▼ 48.7%-€2.6mbelow the sector's middle half▲ 5.0%
Solvency33.5%-31.8%▼ 1.7pp39.8%within the sector's middle half▲ 8.0pp15.9%below the sector's middle half▼ 23.9pp18.1%below the sector's middle half▲ 2.2pp21.8%below the sector's middle half▲ 3.7pp22.6%below the sector's middle half▲ 0.8pp25.7%within the sector's middle half▲ 3.1pp
Current ratio0.40-0.23▼ 0.160.25below the sector's middle half▲ 0.010.22below the sector's middle half▼ 0.030.22below the sector's middle half=0.12below the sector's middle half▼ 0.100.03below the sector's middle half▼ 0.080.09below the sector's middle half▲ 0.06
Return on assets (ROA)7.2%-4.6%▼ 2.7pp6.5%within the sector's middle half▲ 2.0pp0.9%below the sector's middle half▼ 5.6pp2.6%within the sector's middle half▲ 1.7pp4.5%within the sector's middle half▲ 1.8pp6.8%within the sector's middle half▲ 2.3pp4.1%within the sector's middle half▼ 2.7pp
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 30% lower than in 2024.
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 €3.9m
Fixed assets
€3.7m ▲ 0.2%
Current assets
€252,183 ▲ 176%
Equity and liabilities €3.9m
Equity
€1.0m ▲ 18.8%
Provisions
€43,919 ▼ 3.4%
Debt
€2.9m ▲ 0.4%
Debt's share of the balance-sheet total falls from 76.2% to 73.2%. Equity and debt are higher.
Key figures and ratios
ROE
15.8%▼
2024 · 30.1%
Debt ≤ 1 year
€2.8m▲
2024 · €2.8m
Debt > 1 year
€28,989▼
2024 · €42,737
Income taxes
€71,355▲
2024 · €28,376
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Mortgages, amount registered | €25,000 | €25,000 | €25,000 | €25,000 | €25,000 |
| Mortgage mandates | - | €150,000 | - | - | - |
| Carrying value of the mortgaged assets | €209,032 | €203,127 | €197,222 | €191,318 | €185,413 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1.4m | €133,803 | €368,211 | €1.5m | €98,209 |
| Depreciation and write-downs of the year | €126,888 | €58,031 | €49,064 | €136,174 | €90,406 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €228,701 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29,888 | €46,369 | €35,128 | €126,888 | €58,031 | €49,064 | €136,174 | €90,406 | ▼ 33.6% |
| Other operating charges640/8 | - | - | - | €1,199 | €1,509 | €1,203 | €1,255 | €1,194 | ▼ 4.9% |
| Gross operating margin9900 | €117,618 | €115,812 | €127,059 | €165,695 | €160,119 | €225,272 | €468,146 | €322,616 | ▼ 31.1% |
| Operating profit (loss)9901 | €86,618 | €68,326 | €90,901 | €37,607 | €100,580 | €175,004 | €330,717 | €231,016 | ▼ 30.1% |
| Financial income75/76B | - | - | - | - | - | - | - | €0 | - |
| Recurring financial income75 | - | - | - | - | - | - | - | €0 | - |
| Financial charges65/66B | - | - | - | €4,466 | €4,012 | €2,897 | €2,454 | €2,107 | ▼ 14.1% |
| Recurring financial charges65 | €4,883 | €4,513 | €4,120 | €4,466 | €4,012 | €2,897 | €2,454 | €2,107 | ▼ 14.1% |
| Profit (loss) for the period before taxes9903 | €81,735 | €63,813 | €86,782 | €33,142 | €96,567 | €172,108 | €328,263 | €228,909 | ▼ 30.3% |
| Transfer from deferred taxes780 | - | - | - | - | - | - | €296 | €1,525 | ▲ 415% |
| Transfer to deferred taxes680 | - | - | - | - | - | - | €45,740 | - | - |
| Income taxes67/77 | €23,283 | €18,349 | €24,708 | €10,112 | €27,896 | €50,544 | €28,376 | €71,355 | ▲ 151% |
| Profit (loss) for the period9904 | €58,452 | €45,464 | €62,073 | €23,030 | €68,671 | €121,564 | €254,443 | €159,079 | ▼ 37.5% |
| Transfer from tax-exempt reserves789 | - | - | - | - | - | - | €1,184 | €6,099 | ▲ 415% |
| Transfer to tax-exempt reserves689 | - | - | - | - | - | - | €182,960 | - | - |
| Profit (loss) for the period to be appropriated9905 | €58,452 | €45,464 | €62,073 | €23,030 | €68,671 | €121,564 | €72,667 | €165,177 | ▲ 127% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.8m | €1.0m | €0.9m | €2.5m | €2.6m | €2.7m | €3.7m | €3.9m | ▲ 4.5% |
| Fixed assets21/28 | €0.6m | €0.9m | €0.8m | €2.1m | €2.2m | €2.5m | €3.6m | €3.7m | ▲ 0.2% |
| Tangible fixed assets22/27 | €0.6m | €0.9m | €0.8m | €2.1m | €2.2m | €2.5m | €3.6m | €3.7m | ▲ 0.2% |
| Land and buildings22 | - | - | - | €2.1m | €2.2m | €2.1m | €3.6m | €3.6m | ▼ 2.3% |
| Furniture and vehicles24 | - | - | - | €0.01m | - | - | - | €0.09m | - |
| Assets under construction and advance payments27 | - | - | - | - | - | €0.4m | - | - | - |
| Current assets29/58 | €0.2m | €0.1m | €0.1m | €0.5m | €0.4m | €0.2m | €0.09m | €0.3m | ▲ 176% |
| Amounts receivable within one year40/41 | €13 | €0.002m | - | €0.01m | €0.001m | €0.004m | €0.01m | €0.02m | ▲ 19.0% |
| Trade receivables40 | - | - | - | - | €0.001m | €0.004m | €0.006m | €0.009m | ▲ 38.9% |
| Other amounts receivable41 | - | - | - | €0.01m | - | - | €0.007m | €0.007m | = |
| Cash at bank and in hand54/58 | €0.2m | €0.1m | €0.1m | €0.4m | €0.4m | €0.2m | €0.08m | €0.2m | ▲ 204% |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €0.003m | €346 | €0.002m | €0.006m | ▲ 135% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.8m | €1.0m | €0.9m | €2.5m | €2.6m | €2.7m | €3.7m | €3.9m | ▲ 4.5% |
| Equity10/15 | €0.3m | €0.3m | €0.4m | €0.4m | €0.5m | €0.6m | €0.8m | €1.0m | ▲ 18.8% |
| Contributions10/11 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Capital10 | - | - | - | €0.02m | €0.02m | - | - | - | - |
| Issued capital100 | - | - | - | €0.02m | €0.02m | - | - | - | - |
| Reserves13 | €0.2m | €0.3m | €0.4m | €0.4m | €0.4m | €0.6m | €0.8m | €1.0m | ▲ 19.4% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Legal reserve130 | - | - | - | €0.002m | €0.002m | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | - | €0.002m | €0.002m | €0.002m | = |
| Tax-exempt reserves132 | - | - | - | - | - | - | €0.2m | €0.2m | ▼ 3.4% |
| Distributable reserves133 | - | - | - | €0.4m | €0.4m | €0.6m | €0.6m | €0.8m | ▲ 25.9% |
| Provisions and deferred taxes16 | - | - | - | - | - | - | €0.05m | €0.04m | ▼ 3.4% |
| Deferred taxes168 | - | - | - | - | - | - | €0.05m | €0.04m | ▼ 3.4% |
| Amounts payable17/49 | €0.5m | €0.7m | €0.6m | €2.1m | €2.1m | €2.1m | €2.8m | €2.9m | ▲ 0.4% |
| Amounts payable after more than one year17 | €0.1m | €0.1m | €0.09m | €0.08m | €0.07m | €0.06m | €0.04m | €0.03m | ▼ 32.2% |
| Financial debts170/4 | - | - | - | €0.08m | €0.07m | €0.06m | €0.04m | €0.03m | ▼ 32.2% |
| Amounts payable within one year42/48 | €0.4m | €0.6m | €0.5m | €2.0m | €2.1m | €2.1m | €2.8m | €2.8m | ▲ 1.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | ▲ 3.6% |
| Trade debts44 | €183 | €0.2m | €225 | €260 | €0.002m | - | €0.001m | €0.001m | ▼ 20.2% |
| Suppliers440/4 | - | - | - | €260 | €0.002m | - | €0.001m | €0.001m | ▼ 20.2% |
| Taxes, remuneration and social security45 | - | - | - | €0.007m | €0.02m | €0.02m | €0.008m | €0.03m | ▲ 299% |
| Taxes450/3 | - | - | - | €0.007m | €0.02m | €0.02m | €0.008m | €0.03m | ▲ 299% |
| Other amounts payable47/48 | - | - | - | €2.0m | €2.0m | €2.0m | €2.8m | €2.8m | = |
| Accrued charges and deferred income492/3 | - | - | - | €0.002m | €0.007m | €0.006m | €0.01m | €0.009m | ▼ 17.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.06m | €0.05m | €0.06m | €0.02m | €0.07m | €0.1m | €0.3m | €0.2m | ▼ 37.5% |
| + Depreciation and write-downs630 | €0.03m | €0.05m | €0.04m | €0.1m | €0.06m | €0.05m | €0.1m | €0.09m | ▼ 33.6% |
| Operating cash flow (approximation) | €0.09m | €0.09m | €0.1m | €0.1m | €0.1m | €0.2m | €0.4m | €0.2m | ▼ 36.1% |
| Investment in fixed assets (approximation) | - | -€0.3m | -€0.007m | -€1.4m | -€0.1m | -€0.4m | -€1.3m | -€0.1m | ▲ 92.5% |
| Change in cash | - | -€0.03m | -€0.01m | €0.3m | €0.003m | -€0.2m | -€0.2m | €0.2m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 15 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 18-06-2026 | 2026-00173190 | |
| 31-12-2024 | micro format | 02-07-2025 | 2025-00224207 | |
| 31-12-2023 | micro format | 01-07-2024 | 2024-00196640 | |
| 31-12-2022 | micro format | 29-06-2023 | 2023-00174705 | |
| 31-12-2021 | micro format | 30-06-2022 | 2022-20114586 | |
| 31-12-2020 | micro format | 25-06-2021 | 2021-25300398 | |
| 31-12-2019 | micro format | 29-06-2020 | 2020-23600185 | |
| 31-12-2018 | micro format | 24-06-2019 | 2019-22000040 | |
| 31-12-2017 | micro format | 15-06-2018 | 2018-19200547 | |
| 31-12-2016 | abbreviated format | 19-06-2017 | 2017-19100183 |