Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 27-07-2026 at the NBB all 4 filings
Amounts without an identifiable currency are taken as euros.
Equity
€184,318▲ 3.7%
2024 · €177,756
Net result
€6,562
2024 · -€6,544
Total assets
€215,008▲ 14.9%
2024 · €187,138
Solvency
85.7%▼ 9.3pp
2024 · 95.0%
Multi-year overview
2022 to 2025, 4 financial yearsOperating result
€12,704
2025
20222025
Net result
€6,562
2025
middle half of the sector
20222025
Equity
€184,318
▲ 3.7%
2025
middle half of the sector
20222025
Total assets
€215,008
▲ 14.9%
2025
lowest quarter of the sector
20222025
Debt
€30,690
▲ 227%
2025
20222025
Working capital
€139,879
▼ 13.6%
2025
middle half of the sector
20222025
Solvency
85.7%
▼ 9.3pp
2025
highest quarter of the sector
20222025
Current ratio
5.56
▼ 12.70
2025
highest quarter of the sector
20222025
Return on assets (ROA)
3.1%
▲ 6.5pp
2025
middle half of the sector
20222025
Staff (FTE)
0
2025
middle half of the sector
20222025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Operating result€224,624-€22,260▼ 90.1%-€5,657€12,704
Net result€165,619within the sector's middle half-€15,681within the sector's middle half▼ 90.5%-€6,544below the sector's middle half€6,562within the sector's middle half
Equity€168,619within the sector's middle half-€184,300within the sector's middle half▲ 9.3%€177,756below the sector's middle half▼ 3.6%€184,318within the sector's middle half▲ 3.7%
Total assets€182,437below the sector's middle half-€189,298below the sector's middle half▲ 3.8%€187,138below the sector's middle half▼ 1.1%€215,008below the sector's middle half▲ 14.9%
Debt€13,818-€4,999▼ 63.8%€9,382▲ 87.7%€30,690▲ 227%
Working capital€154,083within the sector's middle half-€170,683within the sector's middle half▲ 10.8%€161,896within the sector's middle half▼ 5.1%€139,879within the sector's middle half▼ 13.6%
Solvency92.4%above the sector's middle half-97.4%above the sector's middle half▲ 4.9pp95.0%above the sector's middle half▼ 2.4pp85.7%above the sector's middle half▼ 9.3pp
Current ratio12.15above the sector's middle half-35.15above the sector's middle half▲ 22.9918.26above the sector's middle half▼ 16.895.56above the sector's middle half▼ 12.70
Return on assets (ROA)90.8%above the sector's middle half-8.3%within the sector's middle half▼ 82.5pp-3.5%below the sector's middle half▼ 11.8pp3.1%within the sector's middle half▲ 6.5pp
Staff (FTE)0within 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 a profit of €12,704, after a loss of €5,657 in 2024.
Turnover and EBIT margin are not published. The abbreviated 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 €214,792
Fixed assets
€44,224 ▲ 190%
Current assets
€170,568 ▼ 0.4%
Equity and liabilities €215,008
Equity
€184,318 ▲ 3.7%
Debt
€30,690 ▲ 227%
Debt's share of the balance-sheet total rises from 5.0% to 14.3%. Equity and debt are higher.
Key figures and ratios
ROE
3.6%▲
2024 · -3.7%
Debt ≤ 1 year
€30,690▲
2024 · €9,382
Income taxes
€5,671▲
2024 · €745
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 | €14,466 | €1,588 | €4,500 | €34,171 |
| Financial fixed assets | - | - | €1,000 | €0 |
| Depreciation and write-downs of the year | €1,921 | €2,507 | €3,257 | €4,591 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €27,066 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,921 | €2,507 | €3,257 | €4,591 | ▲ 41.0% |
| Other operating charges640/8 | €7,701 | €2,579 | €1,457 | €8,601 | ▲ 490% |
| Non-recurring operating charges66A | - | - | - | €1,517 | - |
| Gross operating margin9900 | €234,246 | €27,347 | -€942 | €27,413 | - |
| Operating profit (loss)9901 | €224,624 | €22,260 | -€5,657 | €12,704 | - |
| Financial income75/76B | €185 | €295 | €397 | €369 | ▼ 7.0% |
| Recurring financial income75 | €185 | €295 | €397 | €369 | ▼ 7.0% |
| Financial charges65/66B | €64 | €252 | €538 | €840 | ▲ 56.1% |
| Recurring financial charges65 | €64 | €252 | €538 | €840 | ▲ 56.1% |
| Profit (loss) for the period before taxes9903 | €224,744 | €22,303 | -€5,798 | €12,233 | - |
| Income taxes67/77 | €59,125 | €6,623 | €745 | €5,671 | ▲ 661% |
| Profit (loss) for the period9904 | €165,619 | €15,681 | -€6,544 | €6,562 | - |
| Profit (loss) for the period to be appropriated9905 | €165,619 | €15,681 | -€6,544 | €6,562 | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €182,437 | €189,298 | €187,138 | €215,008 | ▲ 14.9% |
| Formation expenses20 | €1,411 | €1,013 | €614 | €216 | ▼ 64.8% |
| Fixed assets21/28 | €13,125 | €12,604 | €15,246 | €44,224 | ▲ 190% |
| Tangible fixed assets22/27 | €13,125 | €12,604 | €14,246 | €44,224 | ▲ 210% |
| Furniture and vehicles24 | €3,416 | €2,353 | €1,871 | €4,176 | ▲ 123% |
| Other tangible fixed assets26 | €9,709 | €10,251 | €12,375 | €40,047 | ▲ 224% |
| Financial fixed assets28 | - | - | €1,000 | €0 | ▼ 100% |
| Current assets29/58 | €167,901 | €175,681 | €171,278 | €170,568 | ▼ 0.4% |
| Amounts receivable within one year40/41 | €26,887 | €19,486 | €74,568 | €97,950 | ▲ 31.4% |
| Trade receivables40 | €15,224 | €14,166 | €60,500 | €86,300 | ▲ 42.6% |
| Other amounts receivable41 | €11,664 | €5,320 | €14,068 | €11,650 | ▼ 17.2% |
| Cash at bank and in hand54/58 | €81,113 | €124,863 | €48,960 | €39,738 | ▼ 18.8% |
| Deferred charges and accrued income490/1 | €59,901 | €31,333 | €47,750 | €32,880 | ▼ 31.1% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €182,437 | €189,298 | €187,138 | €215,008 | ▲ 14.9% |
| Equity10/15 | €168,619 | €184,300 | €177,756 | €184,318 | ▲ 3.7% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Reserves13 | €165,619 | €181,300 | €174,756 | €181,318 | ▲ 3.8% |
| Distributable reserves133 | €165,619 | €181,300 | €174,756 | €181,318 | ▲ 3.8% |
| Amounts payable17/49 | €13,818 | €4,999 | €9,382 | €30,690 | ▲ 227% |
| Amounts payable within one year42/48 | €13,818 | €4,999 | €9,382 | €30,690 | ▲ 227% |
| Trade debts44 | €4,733 | €1,256 | €930 | €1,376 | ▲ 48.0% |
| Suppliers440/4 | €4,733 | €1,256 | €930 | €1,376 | ▲ 48.0% |
| Taxes, remuneration and social security45 | €8,988 | €3,641 | €5,952 | €8,939 | ▲ 50.2% |
| Taxes450/3 | €8,988 | €2,434 | €5,952 | €8,939 | ▲ 50.2% |
| Remuneration and social security454/9 | - | €1,207 | - | - | - |
| Other amounts payable47/48 | €97 | €102 | €2,500 | €20,375 | ▲ 715% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €165,619 | €15,681 | -€6,544 | €6,562 | - |
| + Depreciation and write-downs630 | €1,921 | €2,507 | €3,257 | €4,591 | ▲ 41.0% |
| Operating cash flow (approximation) | €167,540 | €18,188 | -€3,287 | €11,154 | - |
| Investment in fixed assets (approximation) | - | -€1,986 | -€5,899 | -€33,569 | ▼ 469% |
| Change in cash | - | €43,750 | -€75,902 | -€9,222 | ▲ 87.8% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.