Financials · financial year 2025, micro format
Annual accounts 2025 filed on 26-03-2026 PDF all 47 filings
Equity
€730,955▼ 3.0%
2024 · €753,399
Net result
-€22,443▲ 51.6%
2024 · -€46,400
Total assets
€735,844▼ 7.3%
2024 · €793,464
Solvency
99.3%▲ 4.4pp
2024 · 95.0%
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€29,370
▲ 51.8%
2025
20192025
Net result
-€22,443
▲ 51.6%
2025
lowest quarter of the sector
20192025
Equity
€730,955
▼ 3.0%
2025
highest quarter of the sector
20192025
Total assets
€735,844
▼ 7.3%
2025
middle half of the sector
20192025
Debt
€4,889
▼ 87.8%
2025
20192025
Working capital
€322,722
▲ 3.0%
2025
highest quarter of the sector
20192025
Solvency
99.3%
▲ 4.4pp
2025
highest quarter of the sector
20192025
Current ratio
67.01
▲ 58.19
2025
highest quarter of the sector
20192025
Return on assets (ROA)
-3.1%
▲ 2.8pp
2025
lowest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€0.03m--€0.02m▲ 41.1%-€0.06m▼ 215%-€0.03m▲ 51.5%-€0.03m▼ 7.1%-€0.06m▼ 92.8%-€0.03m▲ 51.8%
Net result-€0.008m--€0.02mbelow the sector's middle half▼ 103%-€0.06mbelow the sector's middle half▼ 240%-€0.03mbelow the sector's middle half▲ 51.8%-€0.03mbelow the sector's middle half▼ 8.3%-€0.05mbelow the sector's middle half▼ 56.6%-€0.02mbelow the sector's middle half▲ 51.6%
Equity€1.1m-€1.1mabove the sector's middle half▼ 1.5%€0.9mabove the sector's middle half▼ 19.4%€0.8mabove the sector's middle half▼ 3.2%€0.8mabove the sector's middle half▼ 3.6%€0.8mabove the sector's middle half▼ 5.8%€0.7mabove the sector's middle half▼ 3.0%
Total assets€1.1m-€1.1mabove the sector's middle half▼ 0.3%€0.9mwithin the sector's middle half▼ 18.2%€0.8mwithin the sector's middle half▼ 5.5%€0.8mwithin the sector's middle half▼ 3.1%€0.8mwithin the sector's middle half▼ 1.6%€0.7mwithin the sector's middle half▼ 7.3%
Debt€0.01m€0.02m▲ 78.3%€0.002m▼ 89.9%€0.007m▲ 177%€0.04m▲ 507%€0.005m▼ 87.8%
Working capital€0.8mabove the sector's middle half€0.4mabove the sector's middle half▼ 50.6%€0.3mabove the sector's middle half▼ 18.2%€0.3mabove the sector's middle half▲ 1.3%€0.3mabove the sector's middle half▼ 5.7%€0.3mabove the sector's middle half▲ 3.0%
Solvency100.0%-98.8%above the sector's middle half▼ 1.2pp97.3%above the sector's middle half▼ 1.5pp99.7%above the sector's middle half▲ 2.4pp99.2%above the sector's middle half▼ 0.5pp95.0%above the sector's middle half▼ 4.2pp99.3%above the sector's middle half▲ 4.4pp
Current ratio33.26above the sector's middle half51.34above the sector's middle half8.82above the sector's middle half▼ 42.5267.01above the sector's middle half▲ 58.19
Return on assets (ROA)-0.8%--1.6%below the sector's middle half▼ 0.8pp-6.4%below the sector's middle half▼ 4.9pp-3.3%below the sector's middle half▲ 3.2pp-3.7%below the sector's middle half▼ 0.4pp-5.8%below the sector's middle half▼ 2.2pp-3.1%below the sector's middle half▲ 2.8pp
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 a loss of €29,370, smaller than the loss of €60,928 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 €735,844
Fixed assets
€408,233 ▼ 7.2%
Current assets
€327,611 ▼ 7.3%
Equity and liabilities €735,844
Equity
€730,955 ▼ 3.0%
Debt
€4,889 ▼ 87.8%
Debt's share of the balance-sheet total falls from 5.0% to 0.7%. Equity and debt are lower.
Key figures and ratios
ROE
-3.1%▲
2024 · -6.2%
Debt ≤ 1 year
€4,889▼
2024 · €40,065
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €67,211 | - | €3,986 | - |
| Depreciation and write-downs of the year | €32,678 | €33,844 | €31,476 | €31,863 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,800 | €6,800 | €30,525 | €32,678 | €33,844 | €31,476 | €31,863 | ▲ 1.2% |
| Other operating charges640/8 | - | - | - | €5,872 | €1,069 | €6,350 | €5,655 | ▼ 11.0% |
| Gross operating margin9900 | -€19,034 | -€7,126 | -€24,183 | €9,039 | €3,306 | -€23,102 | €8,148 | - |
| Operating profit (loss)9901 | -€32,754 | -€19,308 | -€60,827 | -€29,511 | -€31,608 | -€60,928 | -€29,370 | ▲ 51.8% |
| Financial income75/76B | - | - | - | €2,468 | €2,115 | €14,630 | €8,845 | ▼ 39.5% |
| Recurring financial income75 | €24,740 | €4,230 | €4,230 | €2,468 | €2,115 | €14,630 | €8,845 | ▼ 39.5% |
| Financial charges65/66B | - | - | - | €321 | €140 | €102 | €1,918 | ▲ 19× |
| Recurring financial charges65 | €385 | €84 | €122 | €321 | €140 | €102 | €1,918 | ▲ 19× |
| Profit (loss) for the period before taxes9903 | -€8,204 | -€15,162 | -€56,719 | -€27,364 | -€29,633 | -€46,400 | -€22,443 | ▲ 51.6% |
| Income taxes67/77 | - | €1,528 | - | - | - | - | - | - |
| Profit (loss) for the period9904 | -€8,204 | -€16,690 | -€56,719 | -€27,364 | -€29,633 | -€46,400 | -€22,443 | ▲ 51.6% |
| Profit (loss) for the period to be appropriated9905 | -€8,204 | -€16,690 | -€56,719 | -€27,364 | -€29,633 | -€46,400 | -€22,443 | ▲ 51.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.1m | €1.1m | €0.9m | €0.8m | €0.8m | €0.8m | €0.7m | ▼ 7.3% |
| Fixed assets21/28 | €0.3m | €0.3m | €0.5m | €0.5m | €0.5m | €0.4m | €0.4m | ▼ 7.2% |
| Tangible fixed assets22/27 | €0.3m | €0.3m | €0.5m | €0.5m | €0.5m | €0.4m | €0.4m | ▼ 7.2% |
| Land and buildings22 | - | - | - | €0.4m | €0.4m | €0.4m | €0.3m | ▼ 6.5% |
| Plant, machinery and equipment23 | - | - | - | - | - | €0.004m | €0.004m | ▼ 10.0% |
| Furniture and vehicles24 | - | - | - | €0.03m | €0.02m | €0.01m | €0.006m | ▼ 58.7% |
| Other tangible fixed assets26 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Financial fixed assets28 | €50 | €50 | €50 | €50 | €50 | €50 | €50 | = |
| Current assets29/58 | €0.8m | €0.8m | €0.4m | €0.3m | €0.3m | €0.4m | €0.3m | ▼ 7.3% |
| Amounts receivable after more than one year29 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Other amounts receivable291 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Amounts receivable within one year40/41 | €0.02m | €0.006m | €0.07m | €0.09m | €0.1m | €0.1m | €0.1m | ▼ 20.5% |
| Trade receivables40 | - | - | - | €0.07m | €0.1m | €0.1m | €0.07m | ▼ 30.6% |
| Other amounts receivable41 | - | - | - | €0.01m | €0.01m | €0.02m | €0.02m | ▲ 42.7% |
| Current investments50/53 | - | - | - | - | €0.001m | €0.001m | €0.001m | = |
| Cash at bank and in hand54/58 | €0.3m | €0.4m | €0.05m | €0.02m | €0.003m | €0.005m | €0.004m | ▼ 24.9% |
| Deferred charges and accrued income490/1 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | ▲ 4.3% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.1m | €1.1m | €0.9m | €0.8m | €0.8m | €0.8m | €0.7m | ▼ 7.3% |
| Equity10/15 | €1.1m | €1.1m | €0.9m | €0.8m | €0.8m | €0.8m | €0.7m | ▼ 3.0% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €1.0m | €1.0m | €0.8m | €0.8m | €0.7m | €0.7m | €0.7m | ▼ 3.2% |
| Non-distributable reserves130/1 | - | - | - | €0.009m | €0.01m | €0.01m | €0.01m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Reserves not available under the articles1311 | - | - | - | €0.003m | €0.003m | €0.003m | €0.003m | = |
| Own shares acquired1312 | - | - | - | - | €0.001m | €0.001m | €0.001m | = |
| Distributable reserves133 | - | - | - | €0.8m | €0.7m | €0.7m | €0.7m | ▼ 3.3% |
| Profit (loss) carried forward14 | -€0.008m | -€0.02m | - | - | - | - | - | - |
| Amounts payable17/49 | - | €0.01m | €0.02m | €0.002m | €0.007m | €0.04m | €0.005m | ▼ 87.8% |
| Amounts payable within one year42/48 | - | €0.008m | €0.01m | €0.002m | €0.007m | €0.04m | €0.005m | ▼ 87.8% |
| Trade debts44 | - | €0.008m | €0.007m | €0.002m | €0.005m | €0.04m | €0.005m | ▼ 87.8% |
| Suppliers440/4 | - | - | - | €0.002m | €0.005m | €0.04m | €0.005m | ▼ 87.8% |
| Taxes, remuneration and social security45 | - | - | - | €12 | €0.001m | - | - | - |
| Taxes450/3 | - | - | - | €12 | €0.001m | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€8,204 | -€16,690 | -€56,719 | -€27,364 | -€29,633 | -€46,400 | -€22,443 | ▲ 51.6% |
| + Depreciation and write-downs630 | €6,800 | €6,800 | €30,525 | €32,678 | €33,844 | €31,476 | €31,863 | ▲ 1.2% |
| Operating cash flow (approximation) | -€1,404 | -€9,890 | -€26,195 | €5,314 | €4,212 | -€14,924 | €9,420 | - |
| Investment in fixed assets (approximation) | - | €0 | -€241,052 | -€67,211 | €0 | -€3,986 | €0 | - |
| Change in cash | - | €15,693 | -€315,173 | -€28,982 | -€15,750 | €2,140 | -€1,188 | - |
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 47 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 26-03-2026 | 2026-00064609 | |
| 30-09-2024 | micro format | 11-03-2025 | 2025-00046431 | |
| 30-09-2023 | micro format | 29-03-2024 | 2024-00054301 | |
| 30-09-2022 | micro format | 31-03-2023 | 2023-00050995 | |
| 30-09-2021 | micro format | 31-03-2022 | 2022-09600170 | |
| 30-09-2020 | micro format | 24-02-2021 | 2021-06100088 | |
| 30-09-2019 | micro format | 14-09-2020 | 2020-53300370 | |
| 30-09-2018 | micro format | 04-02-2019 | 2019-04400295 | |
| 30-09-2017 | micro format | 13-03-2018 | 2018-06700566 | |
| 30-09-2016 | abbreviated format | 30-03-2017 | 2017-08300035 |