Financials · financial year 2025, micro format
Annual accounts 2025 filed on 31-07-2026 at the NBB all 5 filings
Equity
€321,711▲ 8.1%
2024 · €297,670
Net result
€101,880▼ 28.6%
2024 · €142,639
Total assets
€494,301▼ 11.2%
2024 · €556,396
Solvency
65.1%▲ 11.6pp
2024 · 53.5%
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
€152,249
▼ 26.4%
2025
20212025
Net result
€101,880
▼ 28.6%
2025
highest quarter of the sector
20212025
Equity
€321,711
▲ 8.1%
2025
middle half of the sector
20212025
Total assets
€494,301
▼ 11.2%
2025
middle half of the sector
20212025
Debt
€172,590
▼ 33.3%
2025
20212025
Working capital
-€57,851
▲ 32.0%
2025
lowest quarter of the sector
20212025
Solvency
65.1%
▲ 11.6pp
2025
middle half of the sector
20212025
Current ratio
0.66
▼ 0.01
2025
lowest quarter of the sector
20212025
Return on assets (ROA)
20.6%
▼ 5.0pp
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-€4,572-€52,716€132,846▲ 152%€206,928▲ 55.8%€152,249▼ 26.4%
Net result-€4,977below the sector's middle half-€41,364within the sector's middle half€98,644above the sector's middle half▲ 138%€142,639above the sector's middle half▲ 44.6%€101,880above the sector's middle half▼ 28.6%
Equity€15,023below the sector's middle half-€56,387within the sector's middle half▲ 275%€155,031within the sector's middle half▲ 175%€297,670within the sector's middle half▲ 92.0%€321,711within the sector's middle half▲ 8.1%
Total assets€18,052below the sector's middle half-€125,518within the sector's middle half▲ 595%€215,578within the sector's middle half▲ 71.8%€556,396within the sector's middle half▲ 158%€494,301within the sector's middle half▼ 11.2%
Debt€3,029-€69,130▲ 23×€60,547▼ 12.4%€258,727▲ 327%€172,590▼ 33.3%
Working capital€15,023within the sector's middle half-€51,872within the sector's middle half▲ 245%€146,259within the sector's middle half▲ 182%-€85,114below the sector's middle half-€57,851below the sector's middle half▲ 32.0%
Solvency83.2%above the sector's middle half-44.9%within the sector's middle half▼ 38.3pp71.9%within the sector's middle half▲ 27.0pp53.5%within the sector's middle half▼ 18.4pp65.1%within the sector's middle half▲ 11.6pp
Current ratio5.96above the sector's middle half-1.75within the sector's middle half▼ 4.213.42within the sector's middle half▲ 1.670.67below the sector's middle half▼ 2.740.66below the sector's middle half▼ 0.01
Return on assets (ROA)-27.6%below the sector's middle half-33.0%above the sector's middle half▲ 60.5pp45.8%above the sector's middle half▲ 12.8pp25.6%above the sector's middle half▼ 20.1pp20.6%within the sector's middle half▼ 5.0pp
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 26% lower than 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 €494,301
Fixed assets
€381,397 ▼ 0.4%
Current assets
€112,904 ▼ 35.0%
Equity and liabilities €494,301
Equity
€321,711 ▲ 8.1%
Debt
€172,590 ▼ 33.3%
Debt's share of the balance-sheet total falls from 46.5% to 34.9%. Equity is higher and debt is lower.
Key figures and ratios
ROE
31.7%▼
2024 · 47.9%
Debt ≤ 1 year
€170,755▼
2024 · €258,727
Income taxes
€36,585▼
2024 · €50,679
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €6,393 | €6,986 | €6,198 | €3,247 |
| Financial fixed assets | - | - | - | €375,000 | - |
| Depreciation and write-downs of the year | - | €1,878 | €2,730 | €4,024 | €4,633 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €8,216 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €1,878 | €2,730 | €4,024 | €4,633 | ▲ 15.1% |
| Other operating charges640/8 | - | €280 | €109 | €2,209 | €120 | ▼ 94.6% |
| Gross operating margin9900 | -€4,572 | €54,873 | €135,684 | €213,162 | €157,002 | ▼ 26.3% |
| Operating profit (loss)9901 | -€4,572 | €52,716 | €132,846 | €206,928 | €152,249 | ▼ 26.4% |
| Financial income75/76B | - | €4 | €0 | €2,275 | - | - |
| Recurring financial income75 | - | €4 | €0 | €2,275 | - | - |
| Financial charges65/66B | €405 | €1,461 | €6,057 | €15,886 | €13,785 | ▼ 13.2% |
| Recurring financial charges65 | €405 | €1,461 | €6,057 | €15,886 | €13,785 | ▼ 13.2% |
| Profit (loss) for the period before taxes9903 | -€4,977 | €51,259 | €126,788 | €193,318 | €138,465 | ▼ 28.4% |
| Income taxes67/77 | - | €9,894 | €28,145 | €50,679 | €36,585 | ▼ 27.8% |
| Profit (loss) for the period9904 | -€4,977 | €41,364 | €98,644 | €142,639 | €101,880 | ▼ 28.6% |
| Profit (loss) for the period to be appropriated9905 | -€4,977 | €41,364 | €98,644 | €142,639 | €101,880 | ▼ 28.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €18,052 | €125,518 | €215,578 | €556,396 | €494,301 | ▼ 11.2% |
| Fixed assets21/28 | - | €4,515 | €8,771 | €382,783 | €381,397 | ▼ 0.4% |
| Tangible fixed assets22/27 | - | €4,515 | €8,771 | €7,783 | €6,397 | ▼ 17.8% |
| Plant, machinery and equipment23 | - | €241 | €161 | €80 | €3,089 | ▲ 39× |
| Furniture and vehicles24 | - | €4,273 | €8,610 | €7,703 | €3,309 | ▼ 57.0% |
| Financial fixed assets28 | - | - | - | €375,000 | €375,000 | = |
| Current assets29/58 | €18,052 | €121,003 | €206,806 | €173,613 | €112,904 | ▼ 35.0% |
| Amounts receivable within one year40/41 | €11,926 | €27,718 | €62,852 | €134,732 | €88,028 | ▼ 34.7% |
| Trade receivables40 | €11,926 | €27,718 | €53,931 | €68,569 | €57,281 | ▼ 16.5% |
| Other amounts receivable41 | - | - | €8,921 | €66,163 | €30,747 | ▼ 53.5% |
| Cash at bank and in hand54/58 | €4,899 | €71,670 | €143,543 | €38,282 | €20,631 | ▼ 46.1% |
| Deferred charges and accrued income490/1 | €1,227 | €21,614 | €412 | €600 | €4,245 | ▲ 608% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €18,052 | €125,518 | €215,578 | €556,396 | €494,301 | ▼ 11.2% |
| Equity10/15 | €15,023 | €56,387 | €155,031 | €297,670 | €321,711 | ▲ 8.1% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | - | €36,387 | €135,031 | €277,670 | €301,711 | ▲ 8.7% |
| Distributable reserves133 | - | €36,387 | €135,031 | €277,670 | €301,711 | ▲ 8.7% |
| Profit (loss) carried forward14 | -€4,977 | - | - | - | - | - |
| Amounts payable17/49 | €3,029 | €69,130 | €60,547 | €258,727 | €172,590 | ▼ 33.3% |
| Amounts payable within one year42/48 | €3,029 | €69,130 | €60,547 | €258,727 | €170,755 | ▼ 34.0% |
| Financial debts43 | - | - | - | €204,429 | €138,563 | ▼ 32.2% |
| Credit institutions430/8 | - | - | - | €204,429 | €138,563 | ▼ 32.2% |
| Trade debts44 | €1,469 | €4,260 | - | €2,717 | €5,621 | ▲ 107% |
| Suppliers440/4 | €1,469 | €4,260 | - | €2,717 | €5,621 | ▲ 107% |
| Taxes, remuneration and social security45 | €1,142 | €24,097 | €60,547 | €51,581 | €26,572 | ▼ 48.5% |
| Taxes450/3 | €1,142 | €21,409 | €56,679 | €51,581 | €26,572 | ▼ 48.5% |
| Remuneration and social security454/9 | - | €2,688 | €3,868 | - | - | - |
| Other amounts payable47/48 | €418 | €40,774 | - | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | - | €1,835 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,977 | €41,364 | €98,644 | €142,639 | €101,880 | ▼ 28.6% |
| + Depreciation and write-downs630 | - | €1,878 | €2,730 | €4,024 | €4,633 | ▲ 15.1% |
| Operating cash flow (approximation) | -€4,977 | €43,242 | €101,373 | €146,663 | €106,513 | ▼ 27.4% |
| Investment in fixed assets (approximation) | - | - | -€6,986 | -€378,036 | -€3,247 | ▲ 99.1% |
| Change in cash | - | €66,771 | €71,873 | -€105,261 | -€17,651 | ▲ 83.2% |
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 | 31-07-2026 | 2026-00376372 | |
| 31-12-2024 | micro format | 29-08-2025 | 2025-00467099 | |
| 31-12-2023 | micro format | 26-06-2024 | 2024-00166916 | |
| 31-12-2022 | micro format | 10-07-2023 | 2023-00225944 | |
| 31-12-2021 | micro format | 27-07-2022 | 2022-20239520 |