Financials · financial year 2025, micro format
Annual accounts 2025 filed on 15-05-2026 PDF all 5 filings
Equity
€454,875▲ 92.0%
2024 · €236,958
Net result
€218,750▲ 209%
2024 · €70,799
Total assets
€2.6m▲ 6.5%
2024 · €2.4m
Solvency
17.5%▲ 7.8pp
2024 · 9.7%
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€220,553
▲ 120%
2025
20212025
Net result
€218,750
▲ 209%
2025
highest quarter of the sector
20212025
Equity
€454,875
▲ 92.0%
2025
highest quarter of the sector
20212025
Total assets
€2.6m
▲ 6.5%
2025
highest quarter of the sector
20212025
Debt
€2.1m
▼ 2.7%
2025
20212025
Working capital
€10,216
2025
middle half of the sector
20212025
Solvency
17.5%
▲ 7.8pp
2025
lowest quarter of the sector
20212025
Current ratio
1.04
▲ 0.26
2025
middle half of the sector
20212025
Return on assets (ROA)
8.4%
▲ 5.5pp
2025
middle half of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result€0.07m-€0.07m▲ 5.2%€0.1m▲ 58.5%€0.1m▼ 9.0%€0.2m▲ 120%
Net result€0.05mwithin the sector's middle half-€0.05mwithin the sector's middle half▲ 1.8%€0.09mabove the sector's middle half▲ 62.6%€0.07mwithin the sector's middle half▼ 18.4%€0.2mabove the sector's middle half▲ 209%
Equity€0.06mwithin the sector's middle half-€0.1mwithin the sector's middle half▲ 84.2%€0.2mwithin the sector's middle half▲ 63.5%€0.2mwithin the sector's middle half▲ 26.1%€0.5mabove the sector's middle half▲ 92.0%
Total assets€0.1mbelow the sector's middle half-€0.2mwithin the sector's middle half▲ 29.9%€0.2mwithin the sector's middle half▲ 49.3%€2.4mabove the sector's middle half▲ 954%€2.6mabove the sector's middle half▲ 6.5%
Debt€0.06m-€0.04m▼ 29.4%€0.04m▲ 9.0%€2.2m▲ 50×€2.1m▼ 2.7%
Working capital€0.05mwithin the sector's middle half-€0.08mwithin the sector's middle half▲ 53.8%€0.1mwithin the sector's middle half▲ 62.6%-€0.04mbelow the sector's middle half€0.01mwithin the sector's middle half
Solvency52.2%within the sector's middle half-74.0%within the sector's middle half▲ 21.8pp81.0%above the sector's middle half▲ 7.0pp9.7%below the sector's middle half▼ 71.4pp17.5%below the sector's middle half▲ 7.8pp
Current ratio2.61within the sector's middle half-3.98above the sector's middle half▲ 1.374.13above the sector's middle half▲ 0.160.78within the sector's middle half▼ 3.361.04within the sector's middle half▲ 0.26
Return on assets (ROA)43.8%above the sector's middle half-34.4%above the sector's middle half▼ 9.5pp37.4%above the sector's middle half▲ 3.1pp2.9%within the sector's middle half▼ 34.5pp8.4%within the sector's middle half▲ 5.5pp
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 120% higher than in 2024 and the highest since 2021. It is a recovery after the fall 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 €2.6m
Fixed assets
€2.4m ▲ 2.7%
Current assets
€244,981 ▲ 64.9%
Equity and liabilities €2.6m
Equity
€454,875 ▲ 92.0%
Debt
€2.1m ▼ 2.7%
Debt's share of the balance-sheet total falls from 90.3% to 82.5%. Equity is higher and debt is lower.
Key figures and ratios
ROE
48.1%▲
2024 · 29.9%
Debt ≤ 1 year
€234,765▲
2024 · €190,608
Debt > 1 year
€1.9m▼
2024 · €2.0m
Income taxes
€49,876▲
2024 · €24,274
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | €48,618 | €19,361 | €218,565 | €78,390 |
| Financial fixed assets | - | - | €2.1m | - |
| Depreciation and write-downs of the year | €5,473 | €10,459 | €13,244 | €16,134 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,948 | €5,473 | €10,459 | €13,244 | €16,134 | ▲ 21.8% |
| Other operating charges640/8 | - | €5,372 | €2,768 | €24,667 | €2,462 | ▼ 90.0% |
| Gross operating margin9900 | €73,163 | €80,294 | €123,300 | €138,125 | €239,148 | ▲ 73.1% |
| Operating profit (loss)9901 | €66,044 | €69,449 | €110,072 | €100,213 | €220,553 | ▲ 120% |
| Financial income75/76B | - | €2 | €0 | €0 | €70,011 | ▲ 636,465× |
| Recurring financial income75 | €0 | €2 | €0 | €0 | €70,011 | ▲ 636,465× |
| Financial charges65/66B | - | €1,188 | €708 | €5,140 | €21,938 | ▲ 327% |
| Recurring financial charges65 | €484 | €1,188 | €708 | €5,140 | €21,938 | ▲ 327% |
| Profit (loss) for the period before taxes9903 | €65,560 | €68,263 | €109,364 | €95,073 | €268,626 | ▲ 183% |
| Income taxes67/77 | €13,162 | €14,925 | €22,634 | €24,274 | €49,876 | ▲ 105% |
| Profit (loss) for the period9904 | €52,398 | €53,338 | €86,730 | €70,799 | €218,750 | ▲ 209% |
| Transfer to tax-exempt reserves689 | - | - | - | - | €58,730 | - |
| Profit (loss) for the period to be appropriated9905 | €52,398 | €53,338 | €86,730 | €70,799 | €160,020 | ▲ 126% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €0.1m | €0.2m | €0.2m | €2.4m | €2.6m | ▲ 6.5% |
| Formation expenses20 | €315 | €0 | - | - | - | - |
| Fixed assets21/28 | €0.03m | €0.04m | €0.05m | €2.3m | €2.4m | ▲ 2.7% |
| Tangible fixed assets22/27 | €0.03m | €0.04m | €0.05m | €0.2m | €0.3m | ▲ 29.5% |
| Land and buildings22 | - | - | €0.02m | €0.2m | €0.2m | ▼ 2.2% |
| Plant, machinery and equipment23 | - | - | - | €0.001m | €0.001m | ▼ 41.2% |
| Furniture and vehicles24 | - | €0.001m | €0.002m | €0.02m | €0.09m | ▲ 272% |
| Leasing and similar rights25 | - | €0.04m | €0.03m | €0 | - | - |
| Financial fixed assets28 | - | - | - | €2.1m | €2.1m | = |
| Current assets29/58 | €0.09m | €0.1m | €0.2m | €0.1m | €0.2m | ▲ 64.9% |
| Amounts receivable within one year40/41 | €0.02m | €0.02m | €0.08m | €0.1m | €0.2m | ▲ 71.1% |
| Trade receivables40 | - | €0.02m | €0.08m | €0.09m | €0.2m | ▲ 74.9% |
| Other amounts receivable41 | - | €0.005m | €57 | €0.01m | €0.01m | ▲ 38.9% |
| Cash at bank and in hand54/58 | €0.06m | €0.09m | €0.09m | €0.05m | €0.001m | ▼ 97.2% |
| Deferred charges and accrued income490/1 | - | €0.004m | €0.002m | €0.002m | €0.07m | ▲ 32× |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €0.1m | €0.2m | €0.2m | €2.4m | €2.6m | ▲ 6.5% |
| Equity10/15 | €0.06m | €0.1m | €0.2m | €0.2m | €0.5m | ▲ 92.0% |
| Contributions10/11 | - | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Reserves13 | €0.04m | €0.08m | €0.1m | €0.2m | €0.4m | ▲ 96.9% |
| Tax-exempt reserves132 | - | - | - | - | €0.06m | - |
| Distributable reserves133 | - | €0.08m | €0.1m | €0.2m | €0.3m | ▲ 64.9% |
| Profit (loss) carried forward14 | €0.01m | €0.02m | €0.03m | €0.04m | €0.08m | ▲ 92.3% |
| Amounts payable17/49 | €0.06m | €0.04m | €0.04m | €2.2m | €2.1m | ▼ 2.7% |
| Amounts payable after more than one year17 | €0.02m | €0.01m | €467 | €2.0m | €1.9m | ▼ 4.9% |
| Financial debts170/4 | - | €0.01m | €467 | €0.6m | €0.6m | ▼ 3.3% |
| Other amounts payable178/9 | - | - | - | €1.4m | €1.3m | ▼ 5.6% |
| Amounts payable within one year42/48 | €0.03m | €0.03m | €0.04m | €0.2m | €0.2m | ▲ 23.2% |
| Current portion of amounts payable after more than one year42 | - | €0.02m | €0.01m | €0.2m | €0.2m | ▲ 12.8% |
| Trade debts44 | €0.008m | €0.003m | €0.004m | €0.003m | €0.004m | ▲ 19.5% |
| Suppliers440/4 | - | €0.003m | €0.004m | €0.003m | €0.004m | ▲ 19.5% |
| Taxes, remuneration and social security45 | - | €0.002m | €0.02m | €0.02m | €0.04m | ▲ 125% |
| Taxes450/3 | - | €0.002m | €0.02m | €0.02m | €0.04m | ▲ 108% |
| Remuneration and social security454/9 | - | €296 | €144 | €144 | €0.004m | ▲ 24× |
| Other amounts payable47/48 | - | €291 | €0.003m | €0.02m | €0.02m | ▲ 6.4% |
| Accrued charges and deferred income492/3 | - | - | €65 | €0.005m | €187 | ▼ 96.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.05m | €0.05m | €0.09m | €0.07m | €0.2m | ▲ 209% |
| + Depreciation and write-downs630 | €0.006m | €0.005m | €0.01m | €0.01m | €0.02m | ▲ 21.8% |
| Operating cash flow (approximation) | €0.06m | €0.06m | €0.1m | €0.08m | €0.2m | ▲ 179% |
| Investment in fixed assets (approximation) | - | -€0.02m | -€0.02m | -€2.3m | -€0.08m | ▲ 96.5% |
| Change in cash | - | €0.03m | €0.007m | -€0.05m | -€0.05m | ▲ 2.7% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 15-05-2026 | 2026-00111515 | |
| 31-12-2024 | micro format | 20-05-2025 | 2025-00098973 | |
| 31-12-2023 | micro format | 20-06-2024 | 2024-00143112 | |
| 31-12-2022 | micro format | 15-05-2023 | 2023-00086850 | |
| 31-12-2021 | micro format | 31-03-2022 | 2022-09800431 |