Summary
ULC is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €510,247 and a net result of €329,383. Equity is growing by about 25% per year across the filed financial years. Its solvency ranks better than 57% of 9,642 sector peers (NACE 64, financial year 2025). The company has been active since 2015 and the Belgian Official Gazette contains no insolvency or warning signals.
Financials · financial year 2025, micro format
Equity
€510,247▲ 182%
2024 · €180,864
Net result
€329,383▼ 6.4%
2024 · €352,064
Total assets
€864,205▲ 20.5%
2024 · €717,085
Solvency
59.0%▲ 33.8pp
2024 · 25.2%
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result falls in 2025; 2025 is 10% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€420,497
2025
Net result€329,383
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€864,205
2025
Equity€510,247
2025
Debt€353,958
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€450,517
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)38.1%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency59.0%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio2.63
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)0
2024
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€138,184-€167,333▲ 21.1%€475,753▲ 184%€484,054▲ 1.7%€370,149▼ 23.5%€468,172▲ 26.5%€420,497▼ 10.2%
Net result€105,010-€125,220within the sector's middle half▲ 19.2%€361,298above the sector's middle half▲ 189%€358,615above the sector's middle half▼ 0.7%€280,240above the sector's middle half▼ 21.9%€352,064above the sector's middle half▲ 25.6%€329,383above the sector's middle half▼ 6.4%
Equity€42,656-€42,876below the sector's middle half▲ 0.5%€198,174within the sector's middle half▲ 362%€181,265within the sector's middle half▼ 8.5%€181,265within the sector's middle half=€180,864below the sector's middle half▼ 0.2%€510,247above the sector's middle half▲ 182%
Total assets€256,878-€325,322below the sector's middle half▲ 26.6%€615,824within the sector's middle half▲ 89.3%€790,198within the sector's middle half▲ 28.3%€878,503within the sector's middle half▲ 11.2%€717,085within the sector's middle half▼ 18.4%€864,205above the sector's middle half▲ 20.5%
Debt€214,222-€282,446▲ 31.8%€417,650▲ 47.9%€608,933▲ 45.8%€697,238▲ 14.5%€536,221▼ 23.1%€353,958▼ 34.0%
Working capital-€3,454--€11,375within the sector's middle half▼ 229%€156,936within the sector's middle half€144,471within the sector's middle half▼ 7.9%€156,148within the sector's middle half▲ 8.1%€146,027within the sector's middle half▼ 6.5%€450,517above the sector's middle half▲ 209%
Solvency16.6%-13.2%below the sector's middle half▼ 3.4pp32.2%within the sector's middle half▲ 19.0pp22.9%below the sector's middle half▼ 9.2pp20.6%below the sector's middle half▼ 2.3pp25.2%within the sector's middle half▲ 4.6pp59.0%within the sector's middle half▲ 33.8pp
Current ratio0.98-0.95within the sector's middle half▼ 0.041.44within the sector's middle half▲ 0.491.27within the sector's middle half▼ 0.171.24within the sector's middle half▼ 0.031.28within the sector's middle half▲ 0.042.63within the sector's middle half▲ 1.35
Return on assets (ROA)40.9%-38.5%above the sector's middle half▼ 2.4pp58.7%above the sector's middle half▲ 20.2pp45.4%above the sector's middle half▼ 13.3pp31.9%above the sector's middle half▼ 13.5pp49.1%above the sector's middle half▲ 17.2pp38.1%above the sector's middle half▼ 11.0pp
Staff (FTE)0within the sector's middle half0within the sector's middle half
above
within
below
the middle half of NACE 64, Financial service activities, except insurance and pension funding: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the abbreviated or micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €864,205
Fixed assets
€136,867 ▲ 238%
Current assets
€727,338 ▲ 7.5%
Equity and liabilities €864,205
Equity
€510,247 ▲ 182%
Debt
€353,958 ▼ 34.0%
Debt's share of the balance-sheet total falls from 74.8% to 41.0%. Equity is higher and debt is lower.
Key figures and ratios
ROE
64.6%▼
2024 · 194.7%
Debt ≤ 1 year
€276,821▼
2024 · €530,532
Debt > 1 year
€77,137▲
2024 · €5,689
Income taxes
€117,882▼
2024 · €118,022
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €1,063 | €0 | - | €3,738 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,839 | €21,237 | €31,359 | €29,765 | €33,474 | €32,777 | €38,638 | ▲ 17.9% |
| Other operating charges640/8 | - | - | €4,514 | €4,603 | €4,902 | €2,844 | €3,606 | ▲ 26.8% |
| Non-recurring operating charges66A | - | - | - | - | €437 | €721 | €0 | ▼ 100% |
| Gross operating margin9900 | €158,812 | €191,960 | €511,626 | €518,421 | €408,963 | €504,515 | €462,741 | ▼ 8.3% |
| Operating profit (loss)9901 | €138,184 | €167,333 | €475,753 | €484,054 | €370,149 | €468,172 | €420,497 | ▼ 10.2% |
| Financial income75/76B | - | - | €63 | €89 | €8,065 | €4,725 | €32,827 | ▲ 595% |
| Recurring financial income75 | €70 | €69 | €63 | €89 | €8,065 | €4,725 | €32,827 | ▲ 595% |
| Financial charges65/66B | - | - | €1,069 | €4,831 | €5,588 | €2,811 | €6,060 | ▲ 116% |
| Recurring financial charges65 | €902 | €1,196 | €1,069 | €4,831 | €5,588 | €2,811 | €6,060 | ▲ 116% |
| Profit (loss) for the period before taxes9903 | €137,352 | €166,206 | €474,747 | €479,312 | €372,625 | €470,086 | €447,265 | ▼ 4.9% |
| Income taxes67/77 | €32,342 | €40,986 | €113,449 | €120,697 | €92,385 | €118,022 | €117,882 | ▼ 0.1% |
| Profit (loss) for the period9904 | €105,010 | €125,220 | €361,298 | €358,615 | €280,240 | €352,064 | €329,383 | ▼ 6.4% |
| Transfer from tax-exempt reserves789 | - | - | - | - | - | - | €21,050 | - |
| Transfer to tax-exempt reserves689 | - | - | €159,980 | €0 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €105,010 | €125,220 | €201,318 | €358,615 | €280,240 | €352,064 | €350,433 | ▼ 0.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €256,878 | €325,322 | €615,824 | €790,198 | €878,503 | €717,085 | €864,205 | ▲ 20.5% |
| Fixed assets21/28 | €79,933 | €126,826 | €98,273 | €101,989 | €69,704 | €40,526 | €136,867 | ▲ 238% |
| Tangible fixed assets22/27 | €79,933 | €126,826 | €98,273 | €101,989 | €69,704 | €40,526 | €136,867 | ▲ 238% |
| Plant, machinery and equipment23 | - | - | €3,861 | €2,626 | €1,462 | €901 | €340 | ▼ 62.3% |
| Furniture and vehicles24 | - | - | €94,412 | €99,363 | €68,242 | €39,625 | €29,403 | ▼ 25.8% |
| Leasing and similar rights25 | - | - | - | - | - | - | €107,125 | - |
| Current assets29/58 | €176,945 | €198,495 | €517,551 | €688,209 | €808,799 | €676,559 | €727,338 | ▲ 7.5% |
| Amounts receivable within one year40/41 | €19,360 | €0 | €11,811 | €67,760 | €47,760 | €151,210 | €19,210 | ▼ 87.3% |
| Trade receivables40 | - | - | €7,260 | €67,760 | €47,760 | €151,210 | €7,260 | ▼ 95.2% |
| Other amounts receivable41 | - | - | €4,551 | €0 | - | - | €11,950 | - |
| Current investments50/53 | - | - | - | €150,566 | €328,447 | €355,749 | €351,399 | ▼ 1.2% |
| Cash at bank and in hand54/58 | €153,666 | €192,801 | €499,555 | €463,689 | €425,574 | €160,927 | €348,407 | ▲ 116% |
| Deferred charges and accrued income490/1 | - | - | €6,184 | €6,193 | €7,018 | €8,673 | €8,323 | ▼ 4.0% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €256,878 | €325,322 | €615,824 | €790,198 | €878,503 | €717,085 | €864,205 | ▲ 20.5% |
| Equity10/15 | €42,656 | €42,876 | €198,174 | €181,265 | €181,265 | €180,864 | €510,247 | ▲ 182% |
| Contributions10/11 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €23,849 | €23,849 | €178,749 | €161,840 | €161,840 | €161,840 | €491,647 | ▲ 204% |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | €1,860 | €0 | - | - |
| Reserves not available under the articles1311 | - | - | €1,860 | €1,860 | €1,860 | €0 | - | - |
| Tax-exempt reserves132 | - | - | €159,980 | €159,980 | €159,980 | €159,980 | €138,930 | ▼ 13.2% |
| Distributable reserves133 | - | - | €16,909 | €0 | - | €1,860 | €352,717 | ▲ 18,863% |
| Profit (loss) carried forward14 | €208 | €427 | €825 | €825 | €825 | €424 | €0 | ▼ 100% |
| Amounts payable17/49 | €214,222 | €282,446 | €417,650 | €608,933 | €697,238 | €536,221 | €353,958 | ▼ 34.0% |
| Amounts payable after more than one year17 | €33,823 | €72,575 | €57,034 | €64,935 | €44,587 | €5,689 | €77,137 | ▲ 1,256% |
| Financial debts170/4 | - | - | €57,034 | €64,935 | €44,587 | €5,689 | €77,137 | ▲ 1,256% |
| Amounts payable within one year42/48 | €180,399 | €209,871 | €360,615 | €543,738 | €652,651 | €530,532 | €276,821 | ▼ 47.8% |
| Current portion of amounts payable after more than one year42 | - | - | €15,541 | €60,165 | €40,565 | €18,898 | €66,428 | ▲ 252% |
| Financial debts43 | - | - | - | - | - | €20,291 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | - | - | €20,291 | €0 | ▼ 100% |
| Trade debts44 | €4,274 | €929 | €1,028 | €191 | €1,882 | €1,150 | €4,057 | ▲ 253% |
| Suppliers440/4 | - | - | €1,028 | €191 | €1,882 | €1,150 | €4,057 | ▲ 253% |
| Taxes, remuneration and social security45 | - | - | €65,560 | €16,362 | €19,818 | €45,834 | €17,366 | ▼ 62.1% |
| Taxes450/3 | - | - | €65,560 | €16,362 | €19,818 | €45,834 | €17,366 | ▼ 62.1% |
| Remuneration and social security454/9 | - | - | €0 | - | - | - | - | - |
| Other amounts payable47/48 | - | - | €278,487 | €467,020 | €590,386 | €444,360 | €188,971 | ▼ 57.5% |
| Accrued charges and deferred income492/3 | - | - | - | €261 | €0 | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €105,010 | €125,220 | €361,298 | €358,615 | €280,240 | €352,064 | €329,383 | ▼ 6.4% |
| + Depreciation and write-downs630 | €17,839 | €21,237 | €31,359 | €29,765 | €33,474 | €32,777 | €38,638 | ▲ 17.9% |
| Operating cash flow (approximation) | €122,849 | €146,456 | €392,657 | €388,380 | €313,714 | €384,842 | €368,021 | ▼ 4.4% |
| Investment in fixed assets (approximation) | - | -€68,130 | -€2,806 | -€33,481 | -€1,189 | -€3,600 | -€134,979 | ▼ 3,650% |
| Change in cash | - | €39,135 | €306,755 | -€35,866 | -€38,115 | -€264,647 | €187,479 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
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Of the 24,455 companies in this sector, figures are known for 19,975. 13,712 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: not fully processed yet. The notices from August 2025 to September 2026 are still being read.