Financials · financial year 2025, micro format
Annual accounts 2025 filed on 10-03-2026 PDF all 11 filings
Equity
€569,522▼ 5.2%
2024 · €600,752
Net result
€4,570▼ 95.2%
2024 · €94,606
Total assets
€626,414▼ 3.8%
2024 · €651,290
Solvency
90.9%▼ 1.3pp
2024 · 92.2%
Multi-year overview
2019 to 2025, 6 financial yearsTurnover
€120,000
▼ 45.5%
2025
20192025
Operating result
€11,955
▼ 91.4%
2025
20192025
Net result
€4,570
▼ 95.2%
2025
middle half of the sector
20192025
Equity
€569,522
▼ 5.2%
2025
highest quarter of the sector
20192025
Total assets
€626,414
▼ 3.8%
2025
middle half of the sector
20192025
Debt
€56,893
▲ 12.6%
2025
20192025
Working capital
€218,205
▼ 12.6%
2025
highest quarter of the sector
20192025
Solvency
90.9%
▼ 1.3pp
2025
highest quarter of the sector
20192025
Current ratio
4.84
▼ 1.10
2025
highest quarter of the sector
20192025
Return on assets (ROA)
0.7%
▼ 13.8pp
2025
lowest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line201920202022202320242025
Turnover€220,000€120,000▼ 45.5%
Operating result-€1,923--€1,751▲ 8.9%€46,665-€137,126▲ 194%€138,274▲ 0.8%€11,955▼ 91.4%
Net result-€4,855-€120,452above the sector's middle half€35,817within the sector's middle half-€93,146above the sector's middle half▲ 160%€94,606above the sector's middle half▲ 1.6%€4,570within the sector's middle half▼ 95.2%
Equity€511,574-€632,026above the sector's middle half▲ 23.5%€412,999above the sector's middle half-€506,145above the sector's middle half▲ 22.6%€600,752above the sector's middle half▲ 18.7%€569,522above the sector's middle half▼ 5.2%
Total assets€741,583-€732,927within the sector's middle half▼ 1.2%€440,965within the sector's middle half-€550,296within the sector's middle half▲ 24.8%€651,290within the sector's middle half▲ 18.4%€626,414within the sector's middle half▼ 3.8%
Debt€230,009-€100,902▼ 56.1%€27,966-€44,150▲ 57.9%€50,539▲ 14.5%€56,893▲ 12.6%
Working capital-€177,753--€57,475below the sector's middle half▲ 67.7%€67,691within the sector's middle half-€156,478above the sector's middle half▲ 131%€249,627above the sector's middle half▲ 59.5%€218,205above the sector's middle half▼ 12.6%
Solvency69.0%-86.2%above the sector's middle half▲ 17.2pp93.7%above the sector's middle half-92.0%above the sector's middle half▼ 1.7pp92.2%above the sector's middle half▲ 0.3pp90.9%above the sector's middle half▼ 1.3pp
Current ratio0.22-0.42below the sector's middle half▲ 0.203.42within the sector's middle half-4.54above the sector's middle half▲ 1.125.94above the sector's middle half▲ 1.404.84above the sector's middle half▼ 1.10
Return on assets (ROA)-0.7%-16.4%within the sector's middle half▲ 17.1pp8.1%within the sector's middle half-16.9%within the sector's middle half▲ 8.8pp14.5%within the sector's middle half▼ 2.4pp0.7%below the sector's middle half▼ 13.8pp
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 91% lower than in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €626,414
Fixed assets
€351,317 ▲ 0.1%
Current assets
€275,098 ▼ 8.4%
Equity and liabilities €626,414
Equity
€569,522 ▼ 5.2%
Debt
€56,893 ▲ 12.6%
Debt's share of the balance-sheet total rises from 7.8% to 9.1%. Equity is lower and debt is higher.
Key figures and ratios
ROE
0.8%▼
2024 · 15.7%
Debt ≤ 1 year
€56,893▲
2024 · €50,539
Income taxes
€8,552▼
2024 · €44,853
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 | - | €5,450 | €6,175 | €1,561 |
| Depreciation and write-downs of the year | - | €1,090 | €358 | €1,369 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | €220,000 | €120,000 | ▼ 45.5% |
| Non-recurring operating income76A | - | - | - | - | €0 | €0 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | €84,554 | €115,464 | ▲ 36.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | €1,090 | €358 | €1,369 | ▲ 283% |
| Other operating charges640/8 | - | - | €800 | €499 | €688 | €838 | ▲ 21.7% |
| Non-recurring operating charges66A | - | - | - | - | €4,360 | €0 | ▼ 100% |
| Gross operating margin9900 | -€798 | -€1,295 | €47,464 | €138,715 | €143,680 | €14,162 | ▼ 90.1% |
| Operating profit (loss)9901 | -€1,923 | -€1,751 | €46,665 | €137,126 | €138,274 | €11,955 | ▼ 91.4% |
| Financial income75/76B | - | - | €2,070 | €1,173 | €1,424 | €1,351 | ▼ 5.1% |
| Recurring financial income75 | €0 | €124,750 | €2,070 | €1,173 | €1,424 | €1,351 | ▼ 5.1% |
| Financial charges65/66B | - | - | €205 | €146 | €238 | €184 | ▼ 22.6% |
| Recurring financial charges65 | €2,932 | €2,547 | €205 | €146 | €238 | €184 | ▼ 22.6% |
| Profit (loss) for the period before taxes9903 | -€4,855 | €120,452 | €48,530 | €138,153 | €139,460 | €13,122 | ▼ 90.6% |
| Income taxes67/77 | - | - | €12,713 | €45,007 | €44,853 | €8,552 | ▼ 80.9% |
| Profit (loss) for the period9904 | -€4,855 | €120,452 | €35,817 | €93,146 | €94,606 | €4,570 | ▼ 95.2% |
| Profit (loss) for the period to be appropriated9905 | -€4,855 | €120,452 | €35,817 | €93,146 | €94,606 | €4,570 | ▼ 95.2% |
| Line | 2019 | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €741,583 | €732,927 | €440,965 | €550,296 | €651,290 | €626,414 | ▼ 3.8% |
| Fixed assets21/28 | €690,616 | €690,616 | €345,308 | €349,668 | €351,125 | €351,317 | ▲ 0.1% |
| Tangible fixed assets22/27 | - | - | - | €4,360 | €5,817 | €6,009 | ▲ 3.3% |
| Furniture and vehicles24 | - | - | - | €4,360 | €5,817 | €6,009 | ▲ 3.3% |
| Financial fixed assets28 | €690,616 | €690,616 | €345,308 | €345,308 | €345,308 | €345,308 | = |
| Current assets29/58 | €50,967 | €42,311 | €95,657 | €200,628 | €300,165 | €275,098 | ▼ 8.4% |
| Amounts receivable within one year40/41 | - | - | €20,864 | €166,652 | €227,826 | €235,086 | ▲ 3.2% |
| Trade receivables40 | - | - | - | €40,000 | €100,000 | €100,000 | = |
| Other amounts receivable41 | - | - | €20,864 | €126,652 | €127,826 | €135,086 | ▲ 5.7% |
| Cash at bank and in hand54/58 | €50,967 | €42,311 | €73,756 | €32,802 | €70,916 | €37,627 | ▼ 46.9% |
| Deferred charges and accrued income490/1 | - | - | €1,036 | €1,173 | €1,424 | €2,384 | ▲ 67.5% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €741,583 | €732,927 | €440,965 | €550,296 | €651,290 | €626,414 | ▼ 3.8% |
| Equity10/15 | €511,574 | €632,026 | €412,999 | €506,145 | €600,752 | €569,522 | ▼ 5.2% |
| Contributions10/11 | €40,000 | - | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €471,000 | €592,000 | €392,800 | €485,900 | €580,500 | €549,260 | ▼ 5.4% |
| Non-distributable reserves130/1 | - | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves not available under the articles1311 | - | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Distributable reserves133 | - | - | €390,800 | €483,900 | €578,500 | €547,260 | ▼ 5.4% |
| Profit (loss) carried forward14 | €574 | €26 | €199 | €245 | €252 | €262 | ▲ 3.9% |
| Amounts payable17/49 | €230,009 | €100,902 | €27,966 | €44,150 | €50,539 | €56,893 | ▲ 12.6% |
| Amounts payable within one year42/48 | €228,720 | €99,786 | €27,966 | €44,150 | €50,539 | €56,893 | ▲ 12.6% |
| Trade debts44 | €1,221 | €1,221 | €168 | €0 | €4,315 | €565 | ▼ 86.9% |
| Suppliers440/4 | - | - | €168 | €0 | €4,315 | €565 | ▼ 86.9% |
| Taxes, remuneration and social security45 | - | - | €24,127 | €39,280 | €40,153 | €9,456 | ▼ 76.5% |
| Taxes450/3 | - | - | €24,127 | €39,280 | €40,153 | €9,456 | ▼ 76.5% |
| Other amounts payable47/48 | - | - | €3,670 | €4,870 | €6,070 | €46,872 | ▲ 672% |
| Accrued charges and deferred income492/3 | - | - | €0 | - | - | - | - |
| Line | 2019 | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,855 | €120,452 | €35,817 | €93,146 | €94,606 | €4,570 | ▼ 95.2% |
| + Depreciation and write-downs630 | - | - | - | €1,090 | €358 | €1,369 | ▲ 283% |
| Operating cash flow (approximation) | -€4,855 | €120,452 | €35,817 | €94,236 | €94,964 | €5,939 | ▼ 93.7% |
| Investment in fixed assets (approximation) | - | €0 | - | -€5,450 | -€1,815 | -€1,561 | ▲ 14.0% |
| Change in cash | - | -€8,656 | - | -€40,954 | €38,114 | -€33,289 | - |
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 11 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 10-03-2026 | 2026-00051900 | |
| 31-12-2024 | micro format | 19-03-2025 | 2025-00051032 | |
| 31-12-2023 | micro format | 29-05-2024 | 2024-00103623 | |
| 31-12-2022 | micro format | 26-07-2023 | 2023-00287264 | |
| 30-09-2020 | micro format | 29-03-2021 | 2021-09100385 | |
| 30-09-2019 | micro format | 28-04-2020 | 2020-10200407 | |
| 30-09-2018 | abbreviated format | 22-03-2019 | 2019-07600256 | |
| 30-09-2017 | abbreviated format | 03-03-2018 | 2018-06300251 | |
| 30-09-2016 | abbreviated format | 21-03-2017 | 2017-07000066 | |
| 30-09-2015 | abbreviated format | 15-04-2016 | 2016-10200166 |