Financials · financial year 2025, full format
Annual accounts 2025 filed on 08-06-2026 PDF all 5 filings
Equity
€11.6m▲ 6.4%
2024 · €10.9m
Net result
€700,624▼ 0.2%
2024 · €702,303
Total assets
€13.0m▲ 0.1%
2024 · €13.0m
Solvency
89.4%▲ 5.3pp
2024 · 84.2%
Multi-year overview
2021 to 2025, 5 financial yearsTurnover
€25,000
=
2025
20212025
Operating result
€13,135
▼ 32.6%
2025
20212025
Net result
€700,624
▼ 0.2%
2025
middle half of the sector
20212025
Equity
€11.6m
▲ 6.4%
2025
middle half of the sector
20212025
Total assets
€13.0m
▲ 0.1%
2025
middle half of the sector
20212025
Debt
€1.4m
▼ 33.2%
2025
20212025
Working capital
-€422,530
▲ 3.7%
2025
middle half of the sector
20212025
Solvency
89.4%
▲ 5.3pp
2025
highest quarter of the sector
20212025
Current ratio
0.38
▲ 0.03
2025
middle half of the sector
20212025
Return on assets (ROA)
5.4%
=
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
Turnover€0.02m-€0.02m=€0.02m=€0.02m=€0.02m=
Operating result€0.02m-€0.02m▲ 19.8%€0.02m▼ 10.7%€0.02m▲ 9.2%€0.01m▼ 32.6%
Net result€1.9mabove the sector's middle half-€0.7mwithin the sector's middle half▼ 63.6%€0.7mwithin the sector's middle half▲ 3.3%€0.7mwithin the sector's middle half▲ 0.9%€0.7mwithin the sector's middle half▼ 0.2%
Equity€8.9mwithin the sector's middle half-€9.5mwithin the sector's middle half▲ 7.6%€10.2mwithin the sector's middle half▲ 7.3%€10.9mwithin the sector's middle half▲ 6.9%€11.6mwithin the sector's middle half▲ 6.4%
Total assets€12.8mwithin the sector's middle half-€12.9mwithin the sector's middle half▲ 1.4%€13.0mwithin the sector's middle half▲ 0.2%€13.0mwithin the sector's middle half▲ 0.2%€13.0mwithin the sector's middle half▲ 0.1%
Debt€3.9m-€3.4m▼ 12.8%€2.7m▼ 19.8%€2.1m▼ 24.7%€1.4m▼ 33.2%
Working capital-€0.5mwithin the sector's middle half--€0.5mwithin the sector's middle half▲ 0.7%-€0.5mwithin the sector's middle half▲ 4.3%-€0.4mwithin the sector's middle half▲ 4.8%-€0.4mwithin the sector's middle half▲ 3.7%
Solvency69.4%within the sector's middle half-73.7%within the sector's middle half▲ 4.3pp78.9%within the sector's middle half▲ 5.2pp84.2%within the sector's middle half▲ 5.2pp89.4%above the sector's middle half▲ 5.3pp
Current ratio0.03below the sector's middle half-0.28below the sector's middle half▲ 0.250.32below the sector's middle half▲ 0.030.36within the sector's middle half▲ 0.040.38within the sector's middle half▲ 0.03
Return on assets (ROA)14.5%above the sector's middle half-5.2%within the sector's middle half▼ 9.3pp5.4%within the sector's middle half▲ 0.2pp5.4%within the sector's middle half=5.4%within the sector's middle half=
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 33% lower than in 2024 and the lowest since 2021.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €13.0m
Fixed assets
€12.7m =
Current assets
€262,376 ▲ 7.9%
Equity and liabilities €13.0m
Equity
€11.6m ▲ 6.4%
Debt
€1.4m ▼ 33.2%
Debt's share of the balance-sheet total falls from 15.8% to 10.6%. Equity is higher and debt is lower.
Key figures and ratios
ROE
6.0%▼
2024 · 6.4%
Debt ≤ 1 year
€684,906▲
2024 · €681,915
Debt > 1 year
€689,101▼
2024 · €1.4m
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 |
|---|---|---|---|---|---|
| Financial fixed assets | €12.7m | - | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Auditor
The auditor is VGD Bedrijfsrevisoren.
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Fee for the audit | €1,500 | €1,584 | €1,868 | €3,000 | €3,261 |
| Other work by the auditor | €60 | €318 | - | €150 | €541 |
| Work by persons linked to the auditor | - | - | €301 | - | - |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €0.03m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Turnover70 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Other operating income74 | €91 | €0 | - | - | - | - |
| Operating charges60/66A | €0.008m | €0.005m | €0.007m | €0.006m | €0.01m | ▲ 116% |
| Services and other goods61 | €0.008m | €0.003m | €0.006m | €0.005m | €0.01m | ▲ 80.8% |
| Other operating charges640/8 | - | €0.002m | €0.001m | €141 | €0.002m | ▲ 15× |
| Operating profit (loss)9901 | €0.02m | €0.02m | €0.02m | €0.02m | €0.01m | ▼ 32.6% |
| Financial income75/76B | €1.9m | €0.7m | €0.7m | €0.7m | €0.7m | = |
| Recurring financial income75 | €1.9m | €0.7m | €0.7m | €0.7m | €0.7m | = |
| Income from financial fixed assets750 | €1.9m | €0.7m | €0.7m | €0.7m | €0.7m | = |
| Financial charges65/66B | €0.04m | €0.03m | €0.02m | €0.02m | €0.01m | ▼ 27.2% |
| Recurring financial charges65 | €0.04m | €0.03m | €0.02m | €0.02m | €0.01m | ▼ 27.2% |
| Debt charges650 | €0.03m | €0.03m | €0.02m | €0.02m | €0.01m | ▼ 27.6% |
| Other financial charges652/9 | €0.01m | €473 | €499 | €0.001m | €478 | ▼ 17.4% |
| Profit (loss) for the period before taxes9903 | €1.9m | €0.7m | €0.7m | €0.7m | €0.7m | ▼ 0.2% |
| Income taxes67/77 | €358 | €0 | - | - | - | - |
| Taxes670/3 | €358 | €0 | - | - | - | - |
| Profit (loss) for the period9904 | €1.9m | €0.7m | €0.7m | €0.7m | €0.7m | ▼ 0.2% |
| Profit (loss) for the period to be appropriated9905 | €1.9m | €0.7m | €0.7m | €0.7m | €0.7m | ▼ 0.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €12.8m | €12.9m | €13.0m | €13.0m | €13.0m | ▲ 0.1% |
| Fixed assets21/28 | €12.7m | €12.7m | €12.7m | €12.7m | €12.7m | = |
| Financial fixed assets28 | €12.7m | €12.7m | €12.7m | €12.7m | €12.7m | = |
| Affiliated companies280/1 | €12.7m | €12.7m | €12.7m | €12.7m | €12.7m | = |
| Participating interests280 | €12.7m | €12.7m | €12.7m | €12.7m | €12.7m | = |
| Current assets29/58 | €0.02m | €0.2m | €0.2m | €0.2m | €0.3m | ▲ 7.9% |
| Stocks and contracts in progress3 | €0 | €0 | €0 | €0 | €0 | - |
| Amounts receivable within one year40/41 | - | €26 | €0.2m | €0.2m | €0.2m | ▼ 1.4% |
| Trade receivables40 | - | - | €0.003m | €0.003m | €0 | ▼ 100% |
| Other amounts receivable41 | - | €26 | €0.2m | €0.2m | €0.2m | = |
| Cash at bank and in hand54/58 | €0.02m | €0.2m | €0.04m | €0.07m | €0.09m | ▲ 32.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €12.8m | €12.9m | €13.0m | €13.0m | €13.0m | ▲ 0.1% |
| Equity10/15 | €8.9m | €9.5m | €10.2m | €10.9m | €11.6m | ▲ 6.4% |
| Contributions10/11 | €7.0m | €7.0m | €7.0m | €7.0m | €7.0m | = |
| Reserves13 | - | €2.5m | €3.2m | €3.9m | €4.6m | ▲ 17.9% |
| Distributable reserves133 | - | €2.5m | €3.2m | €3.9m | €4.6m | ▲ 17.9% |
| Profit (loss) carried forward14 | €1.9m | €0 | - | - | - | - |
| Amounts payable17/49 | €3.9m | €3.4m | €2.7m | €2.1m | €1.4m | ▼ 33.2% |
| Amounts payable after more than one year17 | €3.4m | €2.7m | €2.1m | €1.4m | €0.7m | ▼ 49.8% |
| Financial debts170/4 | €3.4m | €2.7m | €2.1m | €1.4m | €0.7m | ▼ 49.8% |
| Credit institutions173 | €3.4m | €2.7m | €2.1m | €1.4m | €0.7m | ▼ 49.8% |
| Amounts payable within one year42/48 | €0.5m | €0.7m | €0.7m | €0.7m | €0.7m | ▲ 0.4% |
| Current portion of amounts payable after more than one year42 | €0.5m | €0.7m | €0.7m | €0.7m | €0.7m | ▲ 0.7% |
| Trade debts44 | €0.001m | €0.001m | €0 | €0.002m | €0 | ▼ 100% |
| Suppliers440/4 | €0.001m | €0.001m | €0 | €0.002m | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | €0.001m | €0.001m | €0.001m | €416 | €397 | ▼ 4.6% |
| Taxes450/3 | €0.001m | €0.001m | €0.001m | €416 | €397 | ▼ 4.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.9m | €0.7m | €0.7m | €0.7m | €0.7m | ▼ 0.2% |
| Operating cash flow (approximation) | €1.9m | €0.7m | €0.7m | €0.7m | €0.7m | ▼ 0.2% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €0.2m | -€0.2m | €0.03m | €0.02m | ▼ 23.7% |
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 | full format | 08-06-2026 | 2026-00151607 | |
| 31-12-2024 | full format | 19-05-2025 | 2025-00099590 | |
| 31-12-2023 | full format | 13-06-2024 | 2024-00131180 | |
| 31-12-2022 | full format | 14-06-2023 | 2023-00125327 | |
| 31-12-2021 | full format | 22-06-2022 | 2022-20090942 |