Financials · financial year 2025, micro format
Annual accounts 2025 filed on 27-04-2026 PDF all 4 filings
Equity
€75,000▼ 44.1%
2024 · €134,180
Net result
€155,903▲ 11.9%
2024 · €139,271
Total assets
€239,985▲ 13.2%
2024 · €211,966
Solvency
31.3%▼ 32.1pp
2024 · 63.3%
Multi-year overview
2022 to 2025, 4 financial yearsOperating result
€201,544
▲ 14.7%
2025
20222025
Net result
€155,903
▲ 11.9%
2025
highest quarter of the sector
20222025
Equity
€75,000
▼ 44.1%
2025
middle half of the sector
20222025
Total assets
€239,985
▲ 13.2%
2025
middle half of the sector
20222025
Debt
€164,985
▲ 112%
2025
20222025
Working capital
€45,749
▼ 66.8%
2025
middle half of the sector
20222025
Solvency
31.3%
▼ 32.1pp
2025
middle half of the sector
20222025
Current ratio
1.32
▼ 2.07
2025
middle half of the sector
20222025
Return on assets (ROA)
65.0%
▼ 0.7pp
2025
highest quarter of the sector
20222025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Operating result€1,801--€10,844€175,769€201,544▲ 14.7%
Net result€1,042below the sector's middle half--€11,133below the sector's middle half€139,271above the sector's middle half€155,903above the sector's middle half▲ 11.9%
Equity€6,042below the sector's middle half--€5,091below the sector's middle half€134,180within the sector's middle half€75,000within the sector's middle half▼ 44.1%
Total assets€44,729below the sector's middle half-€34,759below the sector's middle half▼ 22.3%€211,966within the sector's middle half▲ 510%€239,985within the sector's middle half▲ 13.2%
Debt€38,687-€39,850▲ 3.0%€77,786▲ 95.2%€164,985▲ 112%
Working capital€26,042within the sector's middle half-€13,856within the sector's middle half▼ 46.8%€137,725within the sector's middle half▲ 894%€45,749within the sector's middle half▼ 66.8%
Solvency13.5%below the sector's middle half--14.6%below the sector's middle half▼ 28.2pp63.3%within the sector's middle half▲ 77.9pp31.3%within the sector's middle half▼ 32.1pp
Current ratio2.39within the sector's middle half-1.70within the sector's middle half▼ 0.703.38within the sector's middle half▲ 1.691.32within the sector's middle half▼ 2.07
Return on assets (ROA)2.3%within the sector's middle half--32.0%below the sector's middle half▼ 34.4pp65.7%above the sector's middle half▲ 97.7pp65.0%above the sector's middle half▼ 0.7pp
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 15% higher than in 2024 and the highest since 2022. It is the second rise in a row, after the fall in 2023.
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 €239,985
Fixed assets
€49,251 ▲ 199%
Current assets
€190,734 ▼ 2.4%
Equity and liabilities €239,985
Equity
€75,000 ▼ 44.1%
Debt
€164,985 ▲ 112%
Debt's share of the balance-sheet total rises from 36.7% to 68.7%. Equity is lower and debt is higher.
Key figures and ratios
ROE
207.9%▲
2024 · 103.8%
Debt ≤ 1 year
€144,985▲
2024 · €57,786
Debt > 1 year
€20,000=
2024 · €20,000
Income taxes
€45,523▲
2024 · €36,380
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 | - | €1,074 | - | €13,236 |
| Financial fixed assets | - | - | €15,617 | €20,124 |
| Depreciation and write-downs of the year | €1,317 | €21 | €215 | €565 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,317 | €21 | €215 | €565 | ▲ 163% |
| Other operating charges640/8 | €2 | €62 | €449 | €462 | ▲ 2.8% |
| Gross operating margin9900 | €3,120 | -€10,762 | €176,433 | €202,571 | ▲ 14.8% |
| Operating profit (loss)9901 | €1,801 | -€10,844 | €175,769 | €201,544 | ▲ 14.7% |
| Financial charges65/66B | €246 | €120 | €118 | €118 | ▼ 0.2% |
| Recurring financial charges65 | €246 | €120 | €118 | €118 | ▼ 0.2% |
| Profit (loss) for the period before taxes9903 | €1,555 | -€10,965 | €175,651 | €201,426 | ▲ 14.7% |
| Income taxes67/77 | €512 | €169 | €36,380 | €45,523 | ▲ 25.1% |
| Profit (loss) for the period9904 | €1,042 | -€11,133 | €139,271 | €155,903 | ▲ 11.9% |
| Profit (loss) for the period to be appropriated9905 | €1,042 | -€11,133 | €139,271 | €155,903 | ▲ 11.9% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €44,729 | €34,759 | €211,966 | €239,985 | ▲ 13.2% |
| Fixed assets21/28 | - | €1,053 | €16,456 | €49,251 | ▲ 199% |
| Tangible fixed assets22/27 | - | €1,053 | €839 | €13,509 | ▲ 16× |
| Furniture and vehicles24 | - | €1,053 | €839 | €13,509 | ▲ 16× |
| Financial fixed assets28 | - | - | €15,617 | €35,741 | ▲ 129% |
| Current assets29/58 | €44,729 | €33,705 | €195,510 | €190,734 | ▼ 2.4% |
| Amounts receivable within one year40/41 | - | - | €2,723 | €0 | ▼ 100% |
| Trade receivables40 | - | - | €2,723 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €44,729 | €33,705 | €192,527 | €190,734 | ▼ 0.9% |
| Deferred charges and accrued income490/1 | - | - | €260 | €0 | ▼ 100% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €44,729 | €34,759 | €211,966 | €239,985 | ▲ 13.2% |
| Equity10/15 | €6,042 | -€5,091 | €134,180 | €75,000 | ▼ 44.1% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | €1,042 | €1,042 | €129,180 | €70,000 | ▼ 45.8% |
| Distributable reserves133 | €1,042 | €1,042 | €129,180 | €70,000 | ▼ 45.8% |
| Profit (loss) carried forward14 | - | -€11,133 | €0 | €0 | - |
| Amounts payable17/49 | €38,687 | €39,850 | €77,786 | €164,985 | ▲ 112% |
| Amounts payable after more than one year17 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Other amounts payable178/9 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Amounts payable within one year42/48 | €18,687 | €19,850 | €57,786 | €144,985 | ▲ 151% |
| Trade debts44 | €2,297 | €1,067 | €1,134 | €1,299 | ▲ 14.6% |
| Suppliers440/4 | €2,297 | €1,067 | €1,134 | €1,299 | ▲ 14.6% |
| Taxes, remuneration and social security45 | €6,689 | €405 | €37,021 | €36,903 | ▼ 0.3% |
| Taxes450/3 | €6,689 | €405 | €37,021 | €36,903 | ▼ 0.3% |
| Other amounts payable47/48 | €9,701 | €18,377 | €19,630 | €106,782 | ▲ 444% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,042 | -€11,133 | €139,271 | €155,903 | ▲ 11.9% |
| + Depreciation and write-downs630 | €1,317 | €21 | €215 | €565 | ▲ 163% |
| Operating cash flow (approximation) | €2,359 | -€11,113 | €139,486 | €156,468 | ▲ 12.2% |
| Investment in fixed assets (approximation) | - | - | -€15,617 | -€33,360 | ▼ 114% |
| Change in cash | - | -€11,024 | €158,822 | -€1,793 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.