Financials · financial year 2025, full format
Annual accounts 2025 filed on 24-12-2025 PDF all 4 filings
Equity
€93,287▲ 2.4%
2024 · €91,065
Net result
€2,222▼ 88.5%
2024 · €19,317
Total assets
€269,936▼ 10.1%
2024 · €300,266
Solvency
34.6%▲ 4.2pp
2024 · 30.3%
Multi-year overview
2022 to 2025, 4 financial yearsOperating result
-€8,877
2025
20222025
Net result
€2,222
▼ 88.5%
2025
middle half of the sector
20222025
Equity
€93,287
▲ 2.4%
2025
lowest quarter of the sector
20222025
Total assets
€269,936
▼ 10.1%
2025
lowest quarter of the sector
20222025
Debt
€176,649
▼ 15.6%
2025
20222025
Working capital
-€33,307
▼ 72.2%
2025
middle half of the sector
20222025
Solvency
34.6%
▲ 4.2pp
2025
middle half of the sector
20222025
Current ratio
0.64
▼ 0.15
2025
middle half of the sector
20222025
Return on assets (ROA)
0.8%
▼ 5.6pp
2025
middle half of the sector
20222025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Operating result€11,303-€15,862▲ 40.3%€8,770▼ 44.7%-€8,877
Net result€8,343within the sector's middle half-€63,805within the sector's middle half▲ 665%€19,317within the sector's middle half▼ 69.7%€2,222within the sector's middle half▼ 88.5%
Equity€9,543below the sector's middle half-€72,548below the sector's middle half▲ 660%€91,065below the sector's middle half▲ 25.5%€93,287below the sector's middle half▲ 2.4%
Total assets€22,833below the sector's middle half-€232,455below the sector's middle half▲ 918%€300,266below the sector's middle half▲ 29.2%€269,936below the sector's middle half▼ 10.1%
Debt€13,291-€159,907▲ 12×€209,201▲ 30.8%€176,649▼ 15.6%
Working capital€9,543within the sector's middle half-€1,186within the sector's middle half▼ 87.6%-€19,345within the sector's middle half-€33,307within the sector's middle half▼ 72.2%
Solvency41.8%within the sector's middle half-31.2%within the sector's middle half▼ 10.6pp30.3%within the sector's middle half▼ 0.9pp34.6%within the sector's middle half▲ 4.2pp
Current ratio1.72within the sector's middle half-1.01within the sector's middle half▼ 0.700.79within the sector's middle half▼ 0.220.64within the sector's middle half▼ 0.15
Return on assets (ROA)36.5%above the sector's middle half-27.4%above the sector's middle half▼ 9.1pp6.4%within the sector's middle half▼ 21.0pp0.8%within the sector's middle half▼ 5.6pp
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 a loss of €8,877, after a profit of €8,770 in 2024. It is the lowest result since 2022.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €269,936
Fixed assets
€211,131 ▼ 7.2%
Current assets
€58,805 ▼ 19.2%
Equity and liabilities €269,936
Equity
€93,287 ▲ 2.4%
Debt
€176,649 ▼ 15.6%
Debt's share of the balance-sheet total falls from 69.7% to 65.4%. Equity is higher and debt is lower.
Key figures and ratios
ROE
2.4%▼
2024 · 21.2%
Debt ≤ 1 year
€92,112=
2024 · €92,154
Debt > 1 year
€84,537▼
2024 · €117,047
Income taxes
€324▼
2024 · €1,543
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | €922 | €80,096 | - |
| Financial fixed assets | - | €150,000 | - | - |
| Depreciation and write-downs of the year | - | €14 | €3,546 | €16,327 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €14 | €3,546 | €16,327 | ▲ 360% |
| Other operating charges640/8 | - | €25 | €2,629 | €1,529 | ▼ 41.8% |
| Gross operating margin9900 | €11,303 | €15,901 | €14,946 | €8,979 | ▼ 39.9% |
| Operating profit (loss)9901 | €11,303 | €15,862 | €8,770 | -€8,877 | - |
| Financial income75/76B | - | €60,000 | €15,000 | €16,000 | ▲ 6.7% |
| Recurring financial income75 | - | €60,000 | €15,000 | €16,000 | ▲ 6.7% |
| Financial charges65/66B | - | €2,784 | €2,910 | €4,577 | ▲ 57.3% |
| Recurring financial charges65 | - | €2,784 | €2,910 | €4,577 | ▲ 57.3% |
| Profit (loss) for the period before taxes9903 | €11,303 | €73,078 | €20,861 | €2,546 | ▼ 87.8% |
| Income taxes67/77 | €2,961 | €9,273 | €1,543 | €324 | ▼ 79.0% |
| Profit (loss) for the period9904 | €8,343 | €63,805 | €19,317 | €2,222 | ▼ 88.5% |
| Profit (loss) for the period to be appropriated9905 | €8,343 | €63,805 | €19,317 | €2,222 | ▼ 88.5% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €22,833 | €232,455 | €300,266 | €269,936 | ▼ 10.1% |
| Fixed assets21/28 | - | €150,908 | €227,457 | €211,131 | ▼ 7.2% |
| Tangible fixed assets22/27 | - | €908 | €77,457 | €61,131 | ▼ 21.1% |
| Plant, machinery and equipment23 | - | €908 | €600 | €293 | ▼ 51.2% |
| Furniture and vehicles24 | - | - | €76,857 | €60,838 | ▼ 20.8% |
| Financial fixed assets28 | - | €150,000 | €150,000 | €150,000 | = |
| Current assets29/58 | €22,833 | €81,547 | €72,809 | €58,805 | ▼ 19.2% |
| Amounts receivable within one year40/41 | €7,260 | - | €3,864 | €12,938 | ▲ 235% |
| Trade receivables40 | €7,260 | - | - | €7,260 | - |
| Other amounts receivable41 | - | - | €3,864 | €5,678 | ▲ 47.0% |
| Cash at bank and in hand54/58 | - | €81,547 | €66,778 | €43,557 | ▼ 34.8% |
| Deferred charges and accrued income490/1 | €15,573 | - | €2,168 | €2,310 | ▲ 6.5% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €22,833 | €232,455 | €300,266 | €269,936 | ▼ 10.1% |
| Equity10/15 | €9,543 | €72,548 | €91,065 | €93,287 | ▲ 2.4% |
| Contributions10/11 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves13 | €7,000 | €67,000 | €67,000 | €67,000 | = |
| Distributable reserves133 | €7,000 | €67,000 | €67,000 | €67,000 | = |
| Profit (loss) carried forward14 | €543 | €3,548 | €22,065 | €24,287 | ▲ 10.1% |
| Amounts payable17/49 | €13,291 | €159,907 | €209,201 | €176,649 | ▼ 15.6% |
| Amounts payable after more than one year17 | - | €79,383 | €117,047 | €84,537 | ▼ 27.8% |
| Financial debts170/4 | - | €79,383 | €117,047 | €84,537 | ▼ 27.8% |
| Amounts payable within one year42/48 | €13,291 | €80,361 | €92,154 | €92,112 | = |
| Current portion of amounts payable after more than one year42 | - | €10,617 | €32,733 | €33,724 | ▲ 3.0% |
| Trade debts44 | - | - | - | €625 | - |
| Suppliers440/4 | - | - | - | €625 | - |
| Taxes, remuneration and social security45 | €9,741 | €12,883 | €4,543 | €3,000 | ▼ 34.0% |
| Taxes450/3 | €9,741 | €12,883 | €4,543 | €3,000 | ▼ 34.0% |
| Other amounts payable47/48 | €3,550 | €56,861 | €54,879 | €54,762 | ▼ 0.2% |
| Accrued charges and deferred income492/3 | - | €164 | - | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €8,343 | €63,805 | €19,317 | €2,222 | ▼ 88.5% |
| + Depreciation and write-downs630 | - | €14 | €3,546 | €16,327 | ▲ 360% |
| Operating cash flow (approximation) | €8,343 | €63,820 | €22,864 | €18,549 | ▼ 18.9% |
| Investment in fixed assets (approximation) | - | - | -€80,096 | €0 | - |
| Change in cash | - | - | -€14,770 | -€23,220 | ▼ 57.2% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.