Financials · financial year 2025, micro format
2025 annual accounts filed 8 days after the deadline Filed on 8 February 2026, deadline 31 January 2026 (7 months after the close on 30 June 2025, Companies Code art. 3:10). Source: NBB, 2026-00038412.
Annual accounts 2025 filed on 08-02-2026 PDF all 24 filings
Equity
€410
2024 · -€31,249
Net result
€31,659
2024 · -€12,321
Total assets
€48,629▼ 14.0%
2024 · €56,556
Solvency
0.8%▲ 56.1pp
2024 · -55.3%
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€3,445
2025
20192025
Net result
€31,659
2025
middle half of the sector
20192025
Equity
€410
2025
lowest quarter of the sector
20192025
Total assets
€48,629
▼ 14.0%
2025
lowest quarter of the sector
20192025
Debt
€48,219
▼ 19.2%
2025
20192025
Working capital
-€2,326
▲ 65.2%
2025
middle half of the sector
20192025
Solvency
0.8%
▲ 56.1pp
2025
lowest quarter of the sector
20192025
Current ratio
0.95
▲ 0.06
2025
middle half of the sector
20192025
Return on assets (ROA)
65.1%
▲ 86.9pp
2025
highest 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€80,693-€101,558▲ 25.9%€117,950▲ 16.1%-€15,041-€60,984▼ 305%-€12,198▲ 80.0%€3,445
Net result€20,692-€50,503within the sector's middle half▲ 144%€30,721within the sector's middle half▼ 39.2%€14,484within the sector's middle half▼ 52.9%-€61,037below the sector's middle half-€12,321below the sector's middle half▲ 79.8%€31,659within the sector's middle half
Equity-€29,599-€20,904below the sector's middle half€51,625within the sector's middle half▲ 147%€66,109within the sector's middle half▲ 28.1%-€18,929below the sector's middle half-€31,249below the sector's middle half▼ 65.1%€410below the sector's middle half
Total assets€107,672-€126,117within the sector's middle half▲ 17.1%€131,439within the sector's middle half▲ 4.2%€106,438below the sector's middle half▼ 19.0%€24,188below the sector's middle half▼ 77.3%€56,556below the sector's middle half▲ 134%€48,629below the sector's middle half▼ 14.0%
Debt€56,796-€26,553▼ 53.2%€51,695▲ 94.7%€12,210▼ 76.4%€14,997▲ 22.8%€59,686▲ 298%€48,219▼ 19.2%
Working capital€43,139-€93,668within the sector's middle half▲ 117%€69,546within the sector's middle half▼ 25.8%€85,548within the sector's middle half▲ 23.0%€3,750within the sector's middle half▼ 95.6%-€6,690within the sector's middle half-€2,326within the sector's middle half▲ 65.2%
Solvency-27.5%-16.6%below the sector's middle half▲ 44.1pp39.3%within the sector's middle half▲ 22.7pp62.1%within the sector's middle half▲ 22.8pp-78.3%below the sector's middle half▼ 140.4pp-55.3%below the sector's middle half▲ 23.0pp0.8%below the sector's middle half▲ 56.1pp
Current ratio1.77-4.62above the sector's middle half▲ 2.842.35within the sector's middle half▼ 2.278.14above the sector's middle half▲ 5.801.25within the sector's middle half▼ 6.890.89within the sector's middle half▼ 0.360.95within the sector's middle half▲ 0.06
Return on assets (ROA)19.2%-40.0%above the sector's middle half▲ 20.8pp23.4%above the sector's middle half▼ 16.7pp13.6%within the sector's middle half▼ 9.8pp-252.3%below the sector's middle half▼ 266.0pp-21.8%below the sector's middle half▲ 230.6pp65.1%above the sector's middle half▲ 86.9pp
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 profit of €3,445, after a loss of €12,198 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 €48,629
Fixed assets
€2,736 ▼ 23.2%
Current assets
€45,893 ▼ 13.4%
Equity and liabilities €48,629
Equity
€410
Debt
€48,219
Debt's share of the balance-sheet total is 99.2%.
Key figures and ratios
Debt ≤ 1 year
€48,219▼
2024 · €59,686
The equity ratios are withheld because equity of €410 is too small for a meaningful ratio.
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 | €5,505 | - | - | - |
| Depreciation and write-downs of the year | €2,650 | €3,474 | €1,880 | €825 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €5,415 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,497 | €2,497 | €3,763 | €2,650 | €3,474 | €1,880 | €825 | ▼ 56.1% |
| Other operating charges640/8 | - | - | - | €9,184 | €4,248 | €2,689 | €1,114 | ▼ 58.6% |
| Gross operating margin9900 | €88,331 | €108,110 | €75,085 | -€3,207 | -€53,263 | -€7,629 | €5,383 | - |
| Operating profit (loss)9901 | €80,693 | €101,558 | €117,950 | -€15,041 | -€60,984 | -€12,198 | €3,445 | - |
| Financial income75/76B | - | - | - | €30,863 | €713 | €617 | €28,391 | ▲ 46× |
| Recurring financial income75 | €1,118 | €3,420 | €990 | €4,935 | €713 | €617 | €272 | ▼ 55.9% |
| Non-recurring financial income76B | - | - | - | €25,929 | - | - | €28,119 | - |
| Financial charges65/66B | - | - | - | €450 | €377 | €294 | €177 | ▼ 39.7% |
| Recurring financial charges65 | €60,743 | €40,768 | €77,426 | €450 | €377 | €294 | €177 | ▼ 39.7% |
| Profit (loss) for the period before taxes9903 | €21,078 | €64,535 | €41,849 | €15,372 | -€60,648 | -€11,874 | €31,659 | - |
| Income taxes67/77 | €385 | €14,032 | €11,129 | €888 | €390 | €447 | - | - |
| Profit (loss) for the period9904 | €20,692 | €50,503 | €30,721 | €14,484 | -€61,037 | -€12,321 | €31,659 | - |
| Profit (loss) for the period to be appropriated9905 | €20,692 | €50,503 | €30,721 | €14,484 | -€61,037 | -€12,321 | €31,659 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €107,672 | €126,117 | €131,439 | €106,438 | €24,188 | €56,556 | €48,629 | ▼ 14.0% |
| Fixed assets21/28 | €8,710 | €6,539 | €10,198 | €8,914 | €5,441 | €3,560 | €2,736 | ▼ 23.2% |
| Tangible fixed assets22/27 | €5,233 | €2,736 | €6,059 | €8,914 | €5,441 | €3,560 | €2,736 | ▼ 23.2% |
| Furniture and vehicles24 | - | - | - | €8,914 | €5,441 | €3,560 | - | - |
| Other tangible fixed assets26 | - | - | - | - | - | - | €2,736 | - |
| Financial fixed assets28 | €3,478 | €3,804 | €4,139 | - | - | - | - | - |
| Current assets29/58 | €98,961 | €119,578 | €121,241 | €97,524 | €18,747 | €52,995 | €45,893 | ▼ 13.4% |
| Amounts receivable after more than one year29 | - | - | - | €31,250 | - | €22,917 | €18,949 | ▼ 17.3% |
| Other amounts receivable291 | - | - | - | €31,250 | - | €22,917 | €18,949 | ▼ 17.3% |
| Amounts receivable within one year40/41 | €36,935 | €41,120 | €15,678 | €22,619 | €11,891 | €20,467 | €16,138 | ▼ 21.2% |
| Trade receivables40 | - | - | - | €1,049 | €459 | €18,008 | €15,174 | ▼ 15.7% |
| Other amounts receivable41 | - | - | - | €21,570 | €11,433 | €2,459 | €963 | ▼ 60.8% |
| Cash at bank and in hand54/58 | €15,444 | €35,722 | €65,744 | €40,767 | €4,364 | €7,636 | €10,153 | ▲ 33.0% |
| Deferred charges and accrued income490/1 | - | - | - | €2,887 | €2,492 | €1,976 | €654 | ▼ 66.9% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €107,672 | €126,117 | €131,439 | €106,438 | €24,188 | €56,556 | €48,629 | ▼ 14.0% |
| Equity10/15 | -€29,599 | €20,904 | €51,625 | €66,109 | -€18,929 | -€31,249 | €410 | - |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €25,860 | €25,860 | €25,860 | €25,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €24,000 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | -€61,659 | -€11,156 | €19,565 | €34,049 | -€26,989 | -€39,309 | -€7,650 | ▲ 80.5% |
| Provisions and deferred taxes16 | €80,474 | €78,660 | €28,119 | €28,119 | €28,119 | €28,119 | - | - |
| Provisions for liabilities and charges160/5 | - | - | - | €28,119 | €28,119 | €28,119 | - | - |
| Other liabilities and charges164/5 | - | - | - | €28,119 | €28,119 | €28,119 | - | - |
| Amounts payable17/49 | €56,796 | €26,553 | €51,695 | €12,210 | €14,997 | €59,686 | €48,219 | ▼ 19.2% |
| Amounts payable within one year42/48 | €55,822 | €25,909 | €51,695 | €11,976 | €14,997 | €59,686 | €48,219 | ▼ 19.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €3,766 | €3,789 | - | - | - |
| Financial debts43 | - | - | - | €7 | €5 | - | - | - |
| Credit institutions430/8 | - | - | - | €7 | €5 | - | - | - |
| Trade debts44 | €10,287 | €7,173 | €19,102 | €5,873 | €3,653 | €6,799 | €5,264 | ▼ 22.6% |
| Suppliers440/4 | - | - | - | €5,873 | €3,653 | €6,799 | €5,264 | ▼ 22.6% |
| Taxes, remuneration and social security45 | - | - | - | €2,330 | €3,874 | €1,966 | - | - |
| Taxes450/3 | - | - | - | €2,330 | €3,874 | €1,966 | - | - |
| Other amounts payable47/48 | - | - | - | - | €3,676 | €50,921 | €42,955 | ▼ 15.6% |
| Accrued charges and deferred income492/3 | - | - | - | €234 | - | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €20,692 | €50,503 | €30,721 | €14,484 | -€61,037 | -€12,321 | €31,659 | - |
| + Depreciation and write-downs630 | €2,497 | €2,497 | €3,763 | €2,650 | €3,474 | €1,880 | €825 | ▼ 56.1% |
| Operating cash flow (approximation) | €23,189 | €53,000 | €34,484 | €17,134 | -€57,564 | -€10,440 | €32,484 | - |
| Investment in fixed assets (approximation) | - | -€326 | -€7,422 | -€1,366 | €0 | €0 | €0 | - |
| Change in cash | - | €20,278 | €30,022 | -€24,976 | -€36,404 | €3,272 | €2,517 | ▼ 23.1% |
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 24 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 08-02-2026 | 2026-00038412 | |
| 30-06-2024 | micro format | 17-12-2024 | 2024-00617805 | |
| 30-06-2023 | micro format | 29-01-2024 | 2024-00014381 | |
| 30-06-2022 | micro format | 31-01-2023 | 2023-00014851 | |
| 30-06-2021 | micro format | 04-01-2022 | 2022-00100466 | |
| 30-06-2020 | micro format | 01-02-2021 | 2021-03700464 | |
| 30-06-2019 | micro format | 15-01-2020 | 2020-01200361 | |
| 30-06-2018 | micro format | 24-12-2018 | 2018-75600096 | |
| 30-06-2017 | micro format | 20-12-2017 | 2017-72500304 | |
| 30-06-2016 | full format | 13-01-2017 | 2017-01300011 |