Financials · financial year 2025, micro format
Annual accounts 2025 filed on 30-01-2026 PDF all 13 filings
Equity
€741,682▼ 26.5%
2024 · €1.0m
Net result
-€266,907
2024 · €12,468
Total assets
€812,219▼ 22.8%
2024 · €1.1m
Solvency
91.3%▼ 4.6pp
2024 · 95.9%
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€278,347
2025
20192025
Net result
-€266,907
2025
lowest quarter of the sector
20192025
Equity
€741,682
▼ 26.5%
2025
highest quarter of the sector
20192025
Total assets
€812,219
▼ 22.8%
2025
middle half of the sector
20192025
Debt
€70,537
▲ 62.4%
2025
20192025
Working capital
€628,001
▼ 26.6%
2025
highest quarter of the sector
20192025
Solvency
91.3%
▼ 4.6pp
2025
highest quarter of the sector
20192025
Current ratio
10.02
▼ 14.29
2025
highest quarter of the sector
20192025
Return on assets (ROA)
-32.9%
▼ 34.0pp
2025
lowest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.02m--€0.06m€0.03m€0.02m▼ 9.0%-€0.09m€0.02m-€0.3m
Net result€0.01m--€0.06mbelow the sector's middle half€0.02mwithin the sector's middle half-€0.02mbelow the sector's middle half-€0.09mbelow the sector's middle half▼ 428%€0.01mwithin the sector's middle half-€0.3mbelow the sector's middle half
Equity€1.1m-€1.1mabove the sector's middle half▼ 5.2%€1.1mabove the sector's middle half▲ 1.8%€1.1mabove the sector's middle half▼ 1.6%€1.0mabove the sector's middle half▼ 8.6%€1.0mabove the sector's middle half▲ 1.3%€0.7mabove the sector's middle half▼ 26.5%
Total assets€1.5m-€1.1mabove the sector's middle half▼ 26.5%€1.1mabove the sector's middle half▲ 2.8%€1.1mabove the sector's middle half▼ 1.1%€1.2mabove the sector's middle half▲ 6.7%€1.1mabove the sector's middle half▼ 11.9%€0.8mwithin the sector's middle half▼ 22.8%
Debt€0.3m-€0.01m▼ 96.3%€0.02m▲ 91.9%€0.03m▲ 20.7%€0.2m▲ 567%€0.04m▼ 78.1%€0.07m▲ 62.4%
Working capital€1.1m-€1.0mabove the sector's middle half▼ 14.9%€1.0mabove the sector's middle half▲ 3.0%€1.0mabove the sector's middle half▲ 0.8%€0.8mabove the sector's middle half▼ 21.9%€0.9mabove the sector's middle half▲ 9.7%€0.6mabove the sector's middle half▼ 26.6%
Solvency76.7%-98.8%above the sector's middle half▲ 22.2pp97.8%above the sector's middle half▼ 1.0pp97.3%above the sector's middle half▼ 0.5pp83.4%above the sector's middle half▼ 14.0pp95.9%above the sector's middle half▲ 12.5pp91.3%above the sector's middle half▼ 4.6pp
Current ratio4.24-76.07above the sector's middle half▲ 71.8241.30above the sector's middle half▼ 34.7734.65above the sector's middle half▼ 6.644.94above the sector's middle half▼ 29.7124.31above the sector's middle half▲ 19.3810.02above the sector's middle half▼ 14.29
Return on assets (ROA)0.8%--5.4%below the sector's middle half▼ 6.3pp1.7%within the sector's middle half▲ 7.1pp-1.6%below the sector's middle half▼ 3.3pp-7.9%below the sector's middle half▼ 6.3pp1.2%within the sector's middle half▲ 9.0pp-32.9%below the sector's middle half▼ 34.0pp
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 €278,347, after a profit of €18,530 in 2024. It is the lowest result since 2021.
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 €812,219
Fixed assets
€114,577 ▼ 28.0%
Current assets
€697,642 ▼ 21.9%
Equity and liabilities €812,219
Equity
€741,682 ▼ 26.5%
Debt
€70,537 ▲ 62.4%
Debt's share of the balance-sheet total rises from 4.1% to 8.7%. Equity is lower and debt is higher.
Key figures and ratios
ROE
-36.0%▼
2024 · 1.2%
Debt ≤ 1 year
€69,641▲
2024 · €36,723
Income taxes
€1,817▼
2024 · €9,196
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 | - | €154,029 | - | - |
| Depreciation and write-downs of the year | €25,438 | €28,640 | €56,244 | €44,618 |
Source: notes to the 2022 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 | €1,944 | €13,700 | €25,076 | €25,438 | €28,640 | €56,244 | €44,618 | ▼ 20.7% |
| Other operating charges640/8 | - | - | - | €7,921 | €6,152 | €4,453 | €1,338 | ▼ 70.0% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €250,000 | - |
| Gross operating margin9900 | €27,760 | -€32,394 | €60,418 | €57,730 | -€58,113 | €79,227 | €17,609 | ▼ 77.8% |
| Operating profit (loss)9901 | €22,837 | -€57,312 | €26,781 | €24,372 | -€92,905 | €18,530 | -€278,347 | - |
| Financial income75/76B | - | - | - | €2,877 | €5,703 | €5,628 | €13,640 | ▲ 142% |
| Recurring financial income75 | - | €336 | €3,391 | €2,877 | €5,703 | €5,628 | €13,640 | ▲ 142% |
| Financial charges65/66B | - | - | - | €521 | €1,491 | €2,495 | €383 | ▼ 84.6% |
| Recurring financial charges65 | €440 | €1,068 | €1,495 | €521 | €1,491 | €2,495 | €383 | ▼ 84.6% |
| Profit (loss) for the period before taxes9903 | €22,397 | -€58,044 | €28,677 | €26,727 | -€88,692 | €21,664 | -€265,090 | - |
| Income taxes67/77 | €9,838 | €1,782 | €9,511 | €44,509 | €5,249 | €9,196 | €1,817 | ▼ 80.2% |
| Profit (loss) for the period9904 | €12,559 | -€59,826 | €19,167 | -€17,781 | -€93,942 | €12,468 | -€266,907 | - |
| Profit (loss) for the period to be appropriated9905 | €12,559 | -€59,826 | €19,167 | -€17,781 | -€93,942 | €12,468 | -€266,907 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.5m | €1.1m | €1.1m | €1.1m | €1.2m | €1.1m | €0.8m | ▼ 22.8% |
| Fixed assets21/28 | €0.02m | €0.1m | €0.1m | €0.09m | €0.2m | €0.2m | €0.1m | ▼ 28.0% |
| Intangible fixed assets21 | €0.01m | €0.009m | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €0.006m | €0.1m | €0.09m | €0.07m | €0.2m | €0.1m | €0.09m | ▼ 33.2% |
| Furniture and vehicles24 | - | - | - | €0.07m | €0.2m | €0.1m | €0.09m | ▼ 33.2% |
| Financial fixed assets28 | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Current assets29/58 | €1.5m | €1.0m | €1.0m | €1.0m | €1.0m | €0.9m | €0.7m | ▼ 21.9% |
| Amounts receivable within one year40/41 | €0.5m | €0.3m | €0.6m | €0.8m | €0.9m | €0.8m | €0.6m | ▼ 25.3% |
| Trade receivables40 | - | - | - | €0.7m | €0.7m | €0.4m | €0.2m | ▼ 45.8% |
| Other amounts receivable41 | - | - | - | €0.1m | €0.2m | €0.5m | €0.4m | ▼ 8.1% |
| Cash at bank and in hand54/58 | €0.9m | €0.7m | €0.4m | €0.2m | €0.09m | €0.05m | €0.05m | ▲ 6.4% |
| Deferred charges and accrued income490/1 | - | - | - | - | €0.006m | €0.01m | €0.02m | ▲ 135% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.5m | €1.1m | €1.1m | €1.1m | €1.2m | €1.1m | €0.8m | ▼ 22.8% |
| Equity10/15 | €1.1m | €1.1m | €1.1m | €1.1m | €1.0m | €1.0m | €0.7m | ▼ 26.5% |
| Contributions10/11 | €0.02m | - | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €1.0m | €0.7m | ▼ 26.1% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Distributable reserves133 | - | - | - | €0.6m | €0.6m | €1.0m | €0.7m | ▼ 26.1% |
| Profit (loss) carried forward14 | €0.5m | €0.4m | €0.4m | €0.4m | €0.3m | €0.01m | €0 | ▼ 100% |
| Amounts payable17/49 | €0.3m | €0.01m | €0.02m | €0.03m | €0.2m | €0.04m | €0.07m | ▲ 62.4% |
| Amounts payable within one year42/48 | €0.3m | €0.01m | €0.02m | €0.03m | €0.2m | €0.04m | €0.07m | ▲ 89.6% |
| Trade debts44 | €0.008m | €0.005m | €0.01m | €0.02m | €0.2m | €0.03m | €0.04m | ▲ 54.0% |
| Suppliers440/4 | - | - | - | €0.02m | €0.2m | €0.03m | €0.04m | ▲ 54.0% |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0.02m | €0.01m | €0.03m | ▲ 171% |
| Taxes450/3 | - | - | - | €0.01m | €0.02m | €0.01m | €0.03m | ▲ 171% |
| Other amounts payable47/48 | - | - | - | €0.001m | €0 | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | - | €35 | €0.007m | €0.001m | ▼ 86.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €12,559 | -€59,826 | €19,167 | -€17,781 | -€93,942 | €12,468 | -€266,907 | - |
| + Depreciation and write-downs630 | €1,944 | €13,700 | €25,076 | €25,438 | €28,640 | €56,244 | €44,618 | ▼ 20.7% |
| Operating cash flow (approximation) | €14,504 | -€46,126 | €44,243 | €7,656 | -€65,302 | €68,712 | -€222,290 | - |
| Investment in fixed assets (approximation) | - | -€122,898 | -€15,450 | €0 | -€154,029 | €0 | €0 | - |
| Change in cash | - | -€283,243 | -€283,751 | -€167,310 | -€117,713 | -€38,700 | €3,127 | - |
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 13 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 30-01-2026 | 2026-00028949 | |
| 30-06-2024 | micro format | 14-08-2025 | 2025-00381027 | |
| 30-06-2023 | micro format | 31-01-2024 | 2024-00021551 | |
| 30-06-2022 | micro format | 31-10-2023 | 2023-00501387 | |
| 30-06-2021 | micro format | 28-02-2022 | 2022-06700584 | |
| 30-06-2020 | micro format | 01-02-2021 | 2021-04100178 | |
| 30-06-2019 | micro format | 04-02-2020 | 2020-04400383 | |
| 30-06-2018 | micro format | 01-02-2019 | 2019-03600021 | |
| 30-06-2017 | micro format | 25-01-2018 | 2018-02100420 | |
| 30-06-2016 | abbreviated format | 25-01-2017 | 2017-01900049 |