Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 23-06-2026 at the NBB all 3 filings
Equity
€101,794▲ 38.6%
2024 · €73,468
Net result
€28,326▼ 33.7%
2024 · €42,721
Total assets
€274,800▲ 0.9%
2024 · €272,258
Solvency
37.0%▲ 10.1pp
2024 · 27.0%
Multi-year overview
2023 to 2025, 3 financial yearsOperating result
-€42,174
2025
20232025
Net result
€28,326
▼ 33.7%
2025
middle half of the sector
20232025
Equity
€101,794
▲ 38.6%
2025
middle half of the sector
20232025
Total assets
€274,800
▲ 0.9%
2025
lowest quarter of the sector
20232025
Debt
€173,005
▼ 13.0%
2025
20232025
Working capital
€13,210
▲ 9.4%
2025
middle half of the sector
20232025
Solvency
37.0%
▲ 10.1pp
2025
middle half of the sector
20232025
Current ratio
1.31
▲ 0.02
2025
middle half of the sector
20232025
Return on assets (ROA)
10.3%
▼ 5.4pp
2025
middle half of the sector
20232025
Staff (FTE)
0.4
=
2025
lowest quarter of the sector
20232025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202320242025
Operating result-€14,841-€6,606-€42,174
Net result€27,748within the sector's middle half-€42,721within the sector's middle half▲ 54.0%€28,326within the sector's middle half▼ 33.7%
Equity€30,748below the sector's middle half-€73,468below the sector's middle half▲ 139%€101,794within the sector's middle half▲ 38.6%
Total assets€35,534below the sector's middle half-€272,258below the sector's middle half▲ 666%€274,800below the sector's middle half▲ 0.9%
Debt€4,786-€198,790▲ 42×€173,005▼ 13.0%
Working capital€15,128within the sector's middle half-€12,078within the sector's middle half▼ 20.2%€13,210within the sector's middle half▲ 9.4%
Solvency86.5%above the sector's middle half-27.0%within the sector's middle half▼ 59.5pp37.0%within the sector's middle half▲ 10.1pp
Current ratio4.16above the sector's middle half-1.29within the sector's middle half▼ 2.871.31within the sector's middle half▲ 0.02
Return on assets (ROA)78.1%above the sector's middle half-15.7%within the sector's middle half▼ 62.4pp10.3%within the sector's middle half▼ 5.4pp
Staff (FTE)0.4below the sector's middle half-0.4below the sector's middle half=0.4below the sector's middle half=
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 a loss of €42,174, after a profit of €6,606 in 2024. It is the lowest result since 2023.
Turnover and EBIT margin are not published. The abbreviated format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €274,800
Fixed assets
€218,785 ▲ 0.1%
Current assets
€56,014 ▲ 4.4%
Equity and liabilities €274,800
Equity
€101,794 ▲ 38.6%
Debt
€173,005 ▼ 13.0%
Debt's share of the balance-sheet total falls from 73.0% to 63.0%. Equity is higher and debt is lower.
Key figures and ratios
ROE
27.8%▼
2024 · 58.1%
Debt ≤ 1 year
€42,804▲
2024 · €41,551
Debt > 1 year
€130,201▼
2024 · €157,239
Income taxes
€676▼
2024 · €2,982
Staff costs
€26,275▲
2024 · €22,283
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 |
| part-time | 1 | 1 | 1 |
| in full-time equivalents | 0.4 | 0.4 | 0.4 |
| Average over the year, in full-time equivalents | 0.4 | 0.4 | 0.4 |
| On a permanent contract | 1 | 1 | 1 |
| Joined | 1 | - | - |
| Left | 0 | - | - |
Source: social balance sheet in the 2023 to 2025 annual accounts
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | €1,069 | €4,047 | €1,155 |
| Financial fixed assets | €15,000 | €200,000 | - |
| Depreciation and write-downs of the year | €449 | €741 | €769 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €22,802 | - |
| Remuneration, social security and pensions62 | €19,117 | €22,283 | €26,275 | ▲ 17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €449 | €741 | €769 | ▲ 3.7% |
| Other operating charges640/8 | €955 | €1,640 | €1,570 | ▼ 4.2% |
| Non-recurring operating charges66A | - | €296 | €231 | ▼ 22.0% |
| Gross operating margin9900 | €5,680 | €31,567 | -€13,330 | - |
| Operating profit (loss)9901 | -€14,841 | €6,606 | -€42,174 | - |
| Financial income75/76B | €45,000 | €50,962 | €81,518 | ▲ 60.0% |
| Recurring financial income75 | €45,000 | €50,962 | €81,518 | ▲ 60.0% |
| Financial charges65/66B | €1,744 | €11,865 | €10,342 | ▼ 12.8% |
| Recurring financial charges65 | €1,744 | €11,865 | €10,342 | ▼ 12.8% |
| Profit (loss) for the period before taxes9903 | €28,415 | €45,703 | €29,002 | ▼ 36.5% |
| Income taxes67/77 | €667 | €2,982 | €676 | ▼ 77.3% |
| Profit (loss) for the period9904 | €27,748 | €42,721 | €28,326 | ▼ 33.7% |
| Profit (loss) for the period to be appropriated9905 | €27,748 | €42,721 | €28,326 | ▼ 33.7% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €35,534 | €272,258 | €274,800 | ▲ 0.9% |
| Fixed assets21/28 | €15,620 | €218,630 | €218,785 | ▲ 0.1% |
| Tangible fixed assets22/27 | €620 | €3,630 | €3,785 | ▲ 4.3% |
| Plant, machinery and equipment23 | €620 | €898 | €1,353 | ▲ 50.7% |
| Other tangible fixed assets26 | - | €2,732 | €2,432 | ▼ 11.0% |
| Financial fixed assets28 | €15,000 | €215,000 | €215,000 | = |
| Current assets29/58 | €19,914 | €53,628 | €56,014 | ▲ 4.4% |
| Amounts receivable within one year40/41 | €15,852 | €50,652 | €51,782 | ▲ 2.2% |
| Trade receivables40 | €5,389 | €11,192 | €5,000 | ▼ 55.3% |
| Other amounts receivable41 | €10,463 | €39,460 | €46,782 | ▲ 18.6% |
| Cash at bank and in hand54/58 | €3,334 | €706 | €3,715 | ▲ 426% |
| Deferred charges and accrued income490/1 | €728 | €2,270 | €517 | ▼ 77.2% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €35,534 | €272,258 | €274,800 | ▲ 0.9% |
| Equity10/15 | €30,748 | €73,468 | €101,794 | ▲ 38.6% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | = |
| Reserves13 | €27,748 | €70,468 | €98,794 | ▲ 40.2% |
| Distributable reserves133 | €27,748 | €70,468 | €98,794 | ▲ 40.2% |
| Amounts payable17/49 | €4,786 | €198,790 | €173,005 | ▼ 13.0% |
| Amounts payable after more than one year17 | - | €157,239 | €130,201 | ▼ 17.2% |
| Financial debts170/4 | - | €157,239 | €130,201 | ▼ 17.2% |
| Amounts payable within one year42/48 | €4,786 | €41,551 | €42,804 | ▲ 3.0% |
| Current portion of amounts payable after more than one year42 | - | €25,999 | €27,038 | ▲ 4.0% |
| Trade debts44 | €4,119 | €5,196 | €3,751 | ▼ 27.8% |
| Suppliers440/4 | €4,119 | €5,196 | €3,751 | ▼ 27.8% |
| Taxes, remuneration and social security45 | €667 | €10,355 | €12,015 | ▲ 16.0% |
| Taxes450/3 | €667 | €3,650 | €3,659 | ▲ 0.2% |
| Remuneration and social security454/9 | - | €6,706 | €8,356 | ▲ 24.6% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €27,748 | €42,721 | €28,326 | ▼ 33.7% |
| + Depreciation and write-downs630 | €449 | €741 | €769 | ▲ 3.7% |
| Operating cash flow (approximation) | €28,197 | €43,462 | €29,095 | ▼ 33.1% |
| Investment in fixed assets (approximation) | - | -€203,752 | -€924 | ▲ 99.5% |
| Change in cash | - | -€2,627 | €3,009 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.