Financials · financial year 2025, micro format
2025 annual accounts filed 31 days after the deadline Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00461603.
Annual accounts 2025 filed on 31-08-2026 at the NBB all 26 filings
Amounts without an identifiable currency are taken as euros.
Equity
€601,817▲ 10.8%
2024 · €543,113
Net result
€58,704▲ 23.9%
2024 · €47,397
Total assets
€630,952▲ 9.7%
2024 · €575,226
Solvency
95.4%▲ 1.0pp
2024 · 94.4%
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€73,993
▲ 20.0%
2025
20182025
Net result
€58,704
▲ 23.9%
2025
middle half of the sector
20182025
Equity
€601,817
▲ 10.8%
2025
highest quarter of the sector
20182025
Total assets
€630,952
▲ 9.7%
2025
middle half of the sector
20182025
Debt
€29,135
▼ 9.3%
2025
20182025
Working capital
€550,170
▲ 5.4%
2025
highest quarter of the sector
20182025
Solvency
95.4%
▲ 1.0pp
2025
highest quarter of the sector
20182025
Current ratio
19.88
▲ 2.62
2025
highest quarter of the sector
20182025
Return on assets (ROA)
9.3%
▲ 1.1pp
2025
middle half of the sector
20182025
Staff (FTE)
no figure
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€29,937-€43,464▲ 45.2%-€971€48,125€32,432▼ 32.6%€88,758▲ 174%€61,652▼ 30.5%€73,993▲ 20.0%
Net result€21,697-€34,975▲ 61.2%-€2,202below the sector's middle half€33,583within the sector's middle half€23,189within the sector's middle half▼ 31.0%€70,644above the sector's middle half▲ 205%€47,397within the sector's middle half▼ 32.9%€58,704within the sector's middle half▲ 23.9%
Equity€335,528-€370,502▲ 10.4%€368,300above the sector's middle half▼ 0.6%€401,883above the sector's middle half▲ 9.1%€425,072above the sector's middle half▲ 5.8%€495,716above the sector's middle half▲ 16.6%€543,113above the sector's middle half▲ 9.6%€601,817above the sector's middle half▲ 10.8%
Total assets€350,807-€391,719▲ 11.7%€389,863within the sector's middle half▼ 0.5%€436,729within the sector's middle half▲ 12.0%€468,599within the sector's middle half▲ 7.3%€532,973within the sector's middle half▲ 13.7%€575,226within the sector's middle half▲ 7.9%€630,952within the sector's middle half▲ 9.7%
Debt€15,280-€21,217▲ 38.9%€21,563▲ 1.6%€34,846▲ 61.6%€43,527▲ 24.9%€37,257▼ 14.4%€32,114▼ 13.8%€29,135▼ 9.3%
Working capital€315,128-€357,483▲ 13.4%€353,040above the sector's middle half▼ 1.2%€383,288above the sector's middle half▲ 8.6%€385,392above the sector's middle half▲ 0.5%€473,444above the sector's middle half▲ 22.8%€522,213above the sector's middle half▲ 10.3%€550,170above the sector's middle half▲ 5.4%
Solvency95.6%-94.6%▼ 1.1pp94.5%above the sector's middle half▼ 0.1pp92.0%above the sector's middle half▼ 2.4pp90.7%above the sector's middle half▼ 1.3pp93.0%above the sector's middle half▲ 2.3pp94.4%above the sector's middle half▲ 1.4pp95.4%above the sector's middle half▲ 1.0pp
Current ratio21.62-17.85▼ 3.7717.37above the sector's middle half▼ 0.4812.00above the sector's middle half▼ 5.379.85above the sector's middle half▼ 2.1517.31above the sector's middle half▲ 7.4517.26above the sector's middle half▼ 0.0519.88above the sector's middle half▲ 2.62
Return on assets (ROA)6.2%-8.9%▲ 2.7pp-0.6%below the sector's middle half▼ 9.5pp7.7%within the sector's middle half▲ 8.3pp4.9%within the sector's middle half▼ 2.7pp13.3%within the sector's middle half▲ 8.3pp8.2%within the sector's middle half▼ 5.0pp9.3%within the sector's middle half▲ 1.1pp
Staff (FTE)0.4
above
within
below
The sector band is the middle half of the companies in Activities auxiliary to financial services and insurance activities (NACE 66). 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 20% higher than in 2024. It is a recovery after the fall 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 €630,952
Fixed assets
€51,647 ▲ 147%
Current assets
€579,305 ▲ 4.5%
Equity and liabilities €630,952
Equity
€601,817 ▲ 10.8%
Debt
€29,135 ▼ 9.3%
Debt's share of the balance-sheet total falls from 5.6% to 4.6%. Equity is higher and debt is lower.
Key figures and ratios
ROE
9.8%▲
2024 · 8.7%
Debt ≤ 1 year
€29,135▼
2024 · €32,114
Income taxes
€15,210▼
2024 · €15,505
Staff costs
€252
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 | €8,000 | €31,796 | €536 | - | €47,566 |
| Financial fixed assets | - | - | - | - | €15 |
| Depreciation and write-downs of the year | €4,665 | €10,712 | €9,720 | €9,596 | €16,833 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2024 · 2 entries · €309 awarded · €309 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €165 | €165 |
| 2022 | 1 | €144 | €144 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €614 | €193 | €296 | - | €252 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16,542 | €9,974 | €6,924 | €4,665 | €10,712 | €9,720 | €9,596 | €16,833 | ▲ 75.4% |
| Other operating charges640/8 | - | - | - | €1,185 | €1,294 | €1,580 | €1,790 | €1,954 | ▲ 9.1% |
| Gross operating margin9900 | €65,908 | €70,979 | €7,124 | €54,589 | €44,632 | €100,353 | €73,039 | €93,032 | ▲ 27.4% |
| Operating profit (loss)9901 | €29,937 | €43,464 | -€971 | €48,125 | €32,432 | €88,758 | €61,652 | €73,993 | ▲ 20.0% |
| Financial income75/76B | - | - | - | €0 | - | €514 | €1,321 | €5 | ▼ 99.6% |
| Recurring financial income75 | - | €1 | €588 | €0 | - | €514 | €1,321 | €5 | ▼ 99.6% |
| Financial charges65/66B | - | - | - | €193 | €79 | €102 | €71 | €84 | ▲ 18.4% |
| Recurring financial charges65 | €86 | €71 | €78 | €193 | €79 | €102 | €71 | €84 | ▲ 18.4% |
| Profit (loss) for the period before taxes9903 | €29,851 | €44,605 | -€460 | €47,932 | €32,353 | €89,169 | €62,902 | €73,915 | ▲ 17.5% |
| Income taxes67/77 | €8,154 | €9,630 | €1,742 | €14,349 | €9,164 | €18,526 | €15,505 | €15,210 | ▼ 1.9% |
| Profit (loss) for the period9904 | €21,697 | €34,975 | -€2,202 | €33,583 | €23,189 | €70,644 | €47,397 | €58,704 | ▲ 23.9% |
| Profit (loss) for the period to be appropriated9905 | €21,697 | €34,975 | -€2,202 | €33,583 | €23,189 | €70,644 | €47,397 | €58,704 | ▲ 23.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €350,807 | €391,719 | €389,863 | €436,729 | €468,599 | €532,973 | €575,226 | €630,952 | ▲ 9.7% |
| Fixed assets21/28 | €20,400 | €13,019 | €15,261 | €18,595 | €39,680 | €30,496 | €20,900 | €51,647 | ▲ 147% |
| Tangible fixed assets22/27 | €20,400 | €13,019 | €15,261 | €18,595 | €39,680 | €30,496 | €20,900 | €51,632 | ▲ 147% |
| Land and buildings22 | - | - | - | €2,054 | €0 | - | - | - | - |
| Plant, machinery and equipment23 | - | - | - | €5,976 | €5,207 | €4,438 | €3,669 | €2,900 | ▼ 21.0% |
| Furniture and vehicles24 | - | - | - | €10,566 | €34,473 | €26,058 | €17,231 | €48,732 | ▲ 183% |
| Financial fixed assets28 | - | - | - | - | - | - | - | €15 | - |
| Current assets29/58 | €330,408 | €378,700 | €374,602 | €418,134 | €428,920 | €502,477 | €554,327 | €579,305 | ▲ 4.5% |
| Amounts receivable within one year40/41 | €8,755 | €3,201 | €1,067 | €1,737 | €11,424 | €10,273 | €3,386 | €2,801 | ▼ 17.3% |
| Trade receivables40 | - | - | - | €1,737 | €4,588 | €3,437 | €1,375 | - | - |
| Other amounts receivable41 | - | - | - | - | €6,836 | €6,836 | €2,011 | €2,801 | ▲ 39.3% |
| Current investments50/53 | €120,000 | €120,000 | €120,000 | €120,000 | €120,000 | €120,000 | €120,000 | €120,000 | = |
| Cash at bank and in hand54/58 | €199,029 | €252,603 | €251,515 | €294,281 | €295,015 | €369,722 | €427,764 | €452,313 | ▲ 5.7% |
| Deferred charges and accrued income490/1 | - | - | - | €2,116 | €2,481 | €2,481 | €3,176 | €4,191 | ▲ 31.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €350,807 | €391,719 | €389,863 | €436,729 | €468,599 | €532,973 | €575,226 | €630,952 | ▲ 9.7% |
| Equity10/15 | €335,528 | €370,502 | €368,300 | €401,883 | €425,072 | €495,716 | €543,113 | €601,817 | ▲ 10.8% |
| Contributions10/11 | €188,162 | €188,162 | - | €188,162 | €188,162 | €188,162 | €188,162 | €188,162 | = |
| Reserves13 | €127,025 | €127,025 | €127,025 | €127,025 | €150,025 | €150,025 | €150,025 | €150,025 | = |
| Non-distributable reserves130/1 | - | - | - | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves not available under the articles1311 | - | - | - | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Distributable reserves133 | - | - | - | €122,025 | €145,025 | €145,025 | €145,025 | €145,025 | = |
| Profit (loss) carried forward14 | €20,341 | €55,316 | €53,113 | €86,696 | €86,885 | €157,529 | €204,926 | €263,630 | ▲ 28.6% |
| Amounts payable17/49 | €15,280 | €21,217 | €21,563 | €34,846 | €43,527 | €37,257 | €32,114 | €29,135 | ▼ 9.3% |
| Amounts payable within one year42/48 | €15,280 | €21,217 | €21,563 | €34,846 | €43,527 | €29,033 | €32,114 | €29,135 | ▼ 9.3% |
| Trade debts44 | €4,276 | €3,721 | €1,026 | €682 | €448 | €2,918 | €3,538 | €2,253 | ▼ 36.3% |
| Suppliers440/4 | - | - | - | €682 | €448 | €2,918 | €3,538 | €2,253 | ▼ 36.3% |
| Taxes, remuneration and social security45 | - | - | - | €14,739 | €25,618 | €8,867 | €11,677 | €10,233 | ▼ 12.4% |
| Taxes450/3 | - | - | - | €14,739 | €22,927 | €5,719 | €8,481 | €7,019 | ▼ 17.2% |
| Remuneration and social security454/9 | - | - | - | - | €2,692 | €3,148 | €3,196 | €3,215 | ▲ 0.6% |
| Other amounts payable47/48 | - | - | - | €19,425 | €17,462 | €17,247 | €16,899 | €16,648 | ▼ 1.5% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €8,224 | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €21,697 | €34,975 | -€2,202 | €33,583 | €23,189 | €70,644 | €47,397 | €58,704 | ▲ 23.9% |
| + Depreciation and write-downs630 | €16,542 | €9,974 | €6,924 | €4,665 | €10,712 | €9,720 | €9,596 | €16,833 | ▲ 75.4% |
| Operating cash flow (approximation) | €38,239 | €44,948 | €4,721 | €38,248 | €33,901 | €80,364 | €56,993 | €75,538 | ▲ 32.5% |
| Investment in fixed assets (approximation) | - | -€2,593 | -€9,165 | -€8,000 | -€31,796 | -€536 | €0 | -€47,581 | - |
| Change in cash | - | €53,574 | -€1,087 | €42,766 | €733 | €74,707 | €58,042 | €24,549 | ▼ 57.7% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 26 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-08-2026 | 2026-00461603 | |
| 31-12-2024 | micro format | 27-08-2025 | 2025-00410610 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00403460 | |
| 31-12-2022 | micro format | 25-08-2023 | 2023-00352985 | |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20365498 | |
| 31-12-2020 | micro format | 02-09-2021 | 2021-63800219 | |
| 31-12-2019 | micro format | 06-10-2020 | 2020-58800444 | |
| 31-12-2018 | micro format | 30-08-2019 | 2019-55100070 | |
| 31-12-2017 | micro format | 31-08-2018 | 2018-54900329 | |
| 31-12-2016 | micro format | 31-08-2017 | 2017-52500198 |