Financials · financial year 2025, micro format
Annual accounts 2025 filed on 31-10-2025 PDF all 17 filings
Equity
€551,844▲ 12.8%
2024 · €489,100
Net result
€62,744▲ 98.0%
2024 · €31,687
Total assets
€1.1m▼ 1.6%
2024 · €1.1m
Solvency
49.5%▲ 6.3pp
2024 · 43.2%
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€82,225
▲ 89.2%
2025
20192025
Net result
€62,744
▲ 98.0%
2025
middle half of the sector
20192025
Equity
€551,844
▲ 12.8%
2025
highest quarter of the sector
20192025
Total assets
€1.1m
▼ 1.6%
2025
highest quarter of the sector
20192025
Debt
€563,682
▼ 12.5%
2025
20192025
Working capital
-€58,714
▼ 7.0%
2025
lowest quarter of the sector
20192025
Solvency
49.5%
▲ 6.3pp
2025
middle half of the sector
20192025
Current ratio
0.16
▲ 0.07
2025
lowest quarter of the sector
20192025
Return on assets (ROA)
5.6%
▲ 2.8pp
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€0.08m-€0.09m▲ 11.6%€0.1m▲ 33.0%€0.1m▲ 10.3%€412▼ 99.7%€0.04m▲ 106×€0.08m▲ 89.2%
Net result€0.05m-€0.07mwithin the sector's middle half▲ 24.4%€0.09mwithin the sector's middle half▲ 41.8%€0.07mwithin the sector's middle half▼ 20.4%-€0.005mbelow the sector's middle half€0.03mwithin the sector's middle half€0.06mwithin the sector's middle half▲ 98.0%
Equity€0.4m-€0.4mwithin the sector's middle half▲ 4.1%€0.4mwithin the sector's middle half▲ 8.2%€0.5mabove the sector's middle half▲ 6.1%€0.5mabove the sector's middle half▼ 1.2%€0.5mabove the sector's middle half▲ 6.9%€0.6mabove the sector's middle half▲ 12.8%
Total assets€1.3m-€1.2mwithin the sector's middle half▼ 2.0%€1.2mwithin the sector's middle half▼ 1.6%€1.2mabove the sector's middle half▼ 2.2%€1.2mabove the sector's middle half▼ 1.4%€1.1mabove the sector's middle half▼ 2.6%€1.1mabove the sector's middle half▼ 1.6%
Debt€0.9m-€0.8m▼ 4.7%€0.8m▼ 6.4%€0.7m▼ 7.0%€0.7m▼ 1.5%€0.6m▼ 8.8%€0.6m▼ 12.5%
Working capital-€0.4m--€0.5mbelow the sector's middle half▼ 4.5%-€0.05mwithin the sector's middle half▲ 88.4%-€0.05mbelow the sector's middle half▼ 2.1%-€0.05mbelow the sector's middle half▲ 11.0%-€0.05mbelow the sector's middle half▼ 12.7%-€0.06mbelow the sector's middle half▼ 7.0%
Solvency31.0%-32.9%within the sector's middle half▲ 1.9pp36.1%within the sector's middle half▲ 3.3pp39.2%within the sector's middle half▲ 3.1pp39.3%within the sector's middle half▲ 0.1pp43.2%within the sector's middle half▲ 3.9pp49.5%within the sector's middle half▲ 6.3pp
Current ratio0.01-0.01below the sector's middle half=0.15below the sector's middle half▲ 0.140.09below the sector's middle half▼ 0.060.21below the sector's middle half▲ 0.110.09below the sector's middle half▼ 0.120.16below the sector's middle half▲ 0.07
Return on assets (ROA)4.2%-5.4%within the sector's middle half▲ 1.1pp7.7%within the sector's middle half▲ 2.4pp6.3%within the sector's middle half▼ 1.4pp-0.5%below the sector's middle half▼ 6.8pp2.8%within the sector's middle half▲ 3.3pp5.6%within the sector's middle half▲ 2.8pp
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 89% higher than in 2024. It is the second rise in a row, after the fall in 2023.
Turnover and EBIT margin are not published. The abbreviated or 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 €1.1m
Fixed assets
€1.1m ▼ 2.0%
Current assets
€10,779 ▲ 102%
Equity and liabilities €1.1m
Equity
€551,844 ▲ 12.8%
Debt
€563,682 ▼ 12.5%
Debt's share of the balance-sheet total falls from 56.8% to 50.5%. Equity is higher and debt is lower.
Key figures and ratios
ROE
11.4%▲
2024 · 6.5%
Debt ≤ 1 year
€69,492▲
2024 · €60,194
Debt > 1 year
€494,189▼
2024 · €583,848
Income taxes
€15,686▲
2024 · €6,580
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €24,484 | €24,484 | €23,188 | €23,171 | €23,171 | €23,171 | €23,064 | ▼ 0.5% |
| Other operating charges640/8 | - | - | - | €2,465 | €2,588 | €2,655 | €2,800 | ▲ 5.4% |
| Gross operating margin9900 | €105,957 | €113,509 | €143,846 | €154,624 | €26,171 | €69,280 | €108,088 | ▲ 56.0% |
| Operating profit (loss)9901 | €78,842 | €87,950 | €116,933 | €128,988 | €412 | €43,454 | €82,225 | ▲ 89.2% |
| Financial income75/76B | - | - | - | €0 | €4 | €79 | €999 | ▲ 13× |
| Recurring financial income75 | €448 | €499 | €0 | €0 | €4 | €79 | €999 | ▲ 13× |
| Financial charges65/66B | - | - | - | €48,116 | €5,813 | €5,266 | €4,794 | ▼ 9.0% |
| Recurring financial charges65 | €20,932 | €18,690 | €15,458 | €48,116 | €5,813 | €5,266 | €4,794 | ▼ 9.0% |
| Profit (loss) for the period before taxes9903 | €58,358 | €69,759 | €101,476 | €80,872 | -€5,397 | €38,267 | €78,430 | ▲ 105% |
| Income taxes67/77 | €5,530 | €4,031 | €8,295 | €6,674 | - | €6,580 | €15,686 | ▲ 138% |
| Profit (loss) for the period9904 | €52,828 | €65,728 | €93,181 | €74,197 | -€5,397 | €31,687 | €62,744 | ▲ 98.0% |
| Profit (loss) for the period to be appropriated9905 | €71,578 | €65,728 | €93,181 | €74,197 | -€5,397 | €31,687 | €62,744 | ▲ 98.0% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.3m | €1.2m | €1.2m | €1.2m | €1.2m | €1.1m | €1.1m | ▼ 1.6% |
| Fixed assets21/28 | €1.2m | €1.2m | €1.2m | €1.2m | €1.2m | €1.1m | €1.1m | ▼ 2.0% |
| Tangible fixed assets22/27 | €0.9m | €0.9m | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | ▼ 3.0% |
| Land and buildings22 | - | - | - | €0.8m | €0.8m | €0.8m | €0.7m | ▼ 3.0% |
| Plant, machinery and equipment23 | - | - | - | €214 | €107 | - | - | - |
| Other tangible fixed assets26 | - | - | - | €0.007m | €0.007m | €0.007m | €0.007m | = |
| Financial fixed assets28 | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Current assets29/58 | €0.006m | €0.006m | €0.01m | €0.006m | €0.01m | €0.005m | €0.01m | ▲ 102% |
| Amounts receivable within one year40/41 | €0.004m | €0.004m | €97 | €0.002m | €0.008m | €0.001m | €0.002m | ▲ 78.5% |
| Other amounts receivable41 | - | - | - | €0.002m | €0.008m | €0.001m | €0.002m | ▲ 78.5% |
| Cash at bank and in hand54/58 | €0.002m | €0.002m | €0.009m | €0.003m | €0.004m | €0.003m | €0.008m | ▲ 139% |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €0.001m | €0.001m | €0.001m | ▲ 4.2% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.3m | €1.2m | €1.2m | €1.2m | €1.2m | €1.1m | €1.1m | ▼ 1.6% |
| Equity10/15 | €0.4m | €0.4m | €0.4m | €0.5m | €0.5m | €0.5m | €0.6m | ▲ 12.8% |
| Contributions10/11 | €0.02m | - | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.5m | €0.5m | ▲ 13.3% |
| 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 | - | - | - | €0.4m | €0.4m | €0.5m | €0.5m | ▲ 13.4% |
| Amounts payable17/49 | €0.9m | €0.8m | €0.8m | €0.7m | €0.7m | €0.6m | €0.6m | ▼ 12.5% |
| Amounts payable after more than one year17 | €0.4m | €0.4m | €0.7m | €0.7m | €0.6m | €0.6m | €0.5m | ▼ 15.4% |
| Financial debts170/4 | - | - | - | €0.7m | €0.6m | €0.6m | €0.5m | ▼ 15.4% |
| Amounts payable within one year42/48 | €0.4m | €0.5m | €0.06m | €0.06m | €0.06m | €0.06m | €0.07m | ▲ 15.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.05m | €0.05m | €0.05m | €0.06m | ▲ 15.4% |
| Trade debts44 | €0.02m | €0.009m | €0.01m | €0.008m | €0.005m | €0.006m | €0.008m | ▲ 26.4% |
| Suppliers440/4 | - | - | - | €0.008m | €0.005m | €0.006m | €0.008m | ▲ 26.4% |
| Taxes, remuneration and social security45 | - | - | - | €0.001m | €0.002m | €0.001m | €0.001m | ▼ 38.0% |
| Taxes450/3 | - | - | - | €0.001m | €0.002m | €0.001m | €0.001m | ▼ 38.0% |
| Other amounts payable47/48 | - | - | - | - | €0.003m | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | - | €36 | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €52,828 | €65,728 | €93,181 | €74,197 | -€5,397 | €31,687 | €62,744 | ▲ 98.0% |
| + Depreciation and write-downs630 | €24,484 | €24,484 | €23,188 | €23,171 | €23,171 | €23,171 | €23,064 | ▼ 0.5% |
| Operating cash flow (approximation) | €77,312 | €90,212 | €116,369 | €97,368 | €17,774 | €54,858 | €85,808 | ▲ 56.4% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€70 | €7,365 | -€5,593 | €809 | -€947 | €4,476 | - |
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 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2025 | micro format | 31-10-2025 | 2025-00561579 | |
| 31-03-2024 | micro format | 28-11-2024 | 2024-00608203 | |
| 31-03-2023 | micro format | 30-10-2023 | 2023-00496044 | |
| 31-03-2022 | micro format | 28-11-2022 | 2022-20526197 | |
| 31-03-2021 | abbreviated format | 06-12-2021 | 2021-79500575 | |
| 31-03-2020 | abbreviated format | 23-12-2020 | 2020-76800185 | |
| 31-03-2019 | abbreviated format | 30-11-2019 | 2019-74900147 | |
| 31-03-2018 | abbreviated format | 30-11-2018 | 2018-73300100 | |
| 31-03-2017 | abbreviated format | 26-10-2017 | 2017-67900601 | |
| 31-03-2016 | abbreviated format | 02-11-2016 | 2016-67300146 |