Financials · financial year 2025, micro format
Annual accounts 2025 filed on 17-07-2026 at the NBB all 6 filings
Equity
€14,251▼ 31.0%
2024 · €20,664
Net result
€18,587▲ 14×
2024 · €1,337
Total assets
€115,530▲ 53.4%
2024 · €75,301
Solvency
12.3%▼ 15.1pp
2024 · 27.4%
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
€25,484
▲ 22×
2025
20202025
Net result
€18,587
▲ 14×
2025
middle half of the sector
20202025
Equity
€14,251
▼ 31.0%
2025
lowest quarter of the sector
20202025
Total assets
€115,530
▲ 53.4%
2025
lowest quarter of the sector
20202025
Debt
€101,279
▲ 85.4%
2025
20202025
Working capital
-€65,886
▼ 396%
2025
lowest quarter of the sector
20202025
Solvency
12.3%
▼ 15.1pp
2025
lowest quarter of the sector
20202025
Current ratio
0.35
▼ 0.41
2025
lowest quarter of the sector
20202025
Return on assets (ROA)
16.1%
▲ 14.3pp
2025
middle half of the sector
20202025
Staff (FTE)
0.6
▲ 20.0%
2025
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€16,923-€108,392▲ 540%€33,055▼ 69.5%€10,064▼ 69.6%€1,161▼ 88.5%€25,484▲ 22×
Net result€13,539within the sector's middle half-€86,409above the sector's middle half▲ 538%€27,974within the sector's middle half▼ 67.6%€7,904within the sector's middle half▼ 71.7%€1,337below the sector's middle half▼ 83.1%€18,587within the sector's middle half▲ 14×
Equity€19,539below the sector's middle half-€105,948within the sector's middle half▲ 442%€11,422below the sector's middle half▼ 89.2%€19,326below the sector's middle half▲ 69.2%€20,664below the sector's middle half▲ 6.9%€14,251below the sector's middle half▼ 31.0%
Total assets€28,495below the sector's middle half-€111,593below the sector's middle half▲ 292%€141,550within the sector's middle half▲ 26.8%€32,939below the sector's middle half▼ 76.7%€75,301below the sector's middle half▲ 129%€115,530below the sector's middle half▲ 53.4%
Debt€8,956-€5,645▼ 37.0%€130,128▲ 23×€13,613▼ 89.5%€54,638▲ 301%€101,279▲ 85.4%
Working capital€19,539within the sector's middle half-€105,948within the sector's middle half▲ 442%-€3,658within the sector's middle half-€364within the sector's middle half▲ 90.0%-€13,296below the sector's middle half▼ 3,550%-€65,886below the sector's middle half▼ 396%
Solvency68.6%within the sector's middle half-94.9%above the sector's middle half▲ 26.4pp8.1%below the sector's middle half▼ 86.9pp58.7%within the sector's middle half▲ 50.6pp27.4%within the sector's middle half▼ 31.2pp12.3%below the sector's middle half▼ 15.1pp
Current ratio3.18within the sector's middle half-19.77above the sector's middle half▲ 16.590.97within the sector's middle half▼ 18.800.97within the sector's middle half=0.76below the sector's middle half▼ 0.220.35below the sector's middle half▼ 0.41
Return on assets (ROA)47.5%above the sector's middle half-77.4%above the sector's middle half▲ 29.9pp19.8%above the sector's middle half▼ 57.7pp24.0%above the sector's middle half▲ 4.2pp1.8%below the sector's middle half▼ 22.2pp16.1%within the sector's middle half▲ 14.3pp
Staff (FTE)0.50.6▲ 20.0%
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 22 times that of 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 €115,530
Fixed assets
€80,137 ▲ 136%
Current assets
€35,393 ▼ 14.4%
Equity and liabilities €115,530
Equity
€14,251 ▼ 31.0%
Debt
€101,279 ▲ 85.4%
Debt's share of the balance-sheet total rises from 72.6% to 87.7%. Equity is lower and debt is higher.
Key figures and ratios
ROE
130.4%▲
2024 · 6.5%
Debt ≤ 1 year
€101,279▲
2024 · €54,638
Income taxes
€6,777▲
2024 · -€197
Staff costs
€30,227▲
2024 · €24,036
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2024 | 31-12-2025 |
|---|---|---|
| Employees at the balance-sheet date | 2 | - |
| full-time | 2 | - |
| in full-time equivalents | 2 | - |
| Average over the year, in full-time equivalents | 0.5 | 0.6 |
| On a permanent contract | 2 | - |
| Joined | 2 | 0 |
| Left | 0 | 2 |
Source: social balance sheet in the 2024 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €16,110 | €7,650 | €35,810 | €62,000 |
| Depreciation and write-downs of the year | - | €1,030 | €3,040 | €1,850 | €15,823 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | €24,036 | €30,227 | ▲ 25.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €1,030 | €3,040 | €1,850 | €15,823 | ▲ 755% |
| Other operating charges640/8 | - | €375 | - | €384 | €387 | €400 | ▲ 3.2% |
| Non-recurring operating charges66A | - | - | - | - | €3,339 | - | - |
| Gross operating margin9900 | €16,923 | €108,767 | €34,085 | €13,488 | €30,773 | €71,934 | ▲ 134% |
| Operating profit (loss)9901 | €16,923 | €108,392 | €33,055 | €10,064 | €1,161 | €25,484 | ▲ 22× |
| Financial income75/76B | - | €424 | €2,221 | €1,062 | €70 | - | - |
| Recurring financial income75 | - | €424 | €2,221 | €1,062 | €70 | - | - |
| Financial charges65/66B | - | €7 | €145 | €104 | €90 | €120 | ▲ 33.1% |
| Recurring financial charges65 | - | €7 | €145 | €104 | €90 | €120 | ▲ 33.1% |
| Profit (loss) for the period before taxes9903 | €16,923 | €108,809 | €35,130 | €11,021 | €1,140 | €25,364 | ▲ 22× |
| Income taxes67/77 | €3,385 | €22,400 | €7,156 | €3,117 | -€197 | €6,777 | - |
| Profit (loss) for the period9904 | €13,539 | €86,409 | €27,974 | €7,904 | €1,337 | €18,587 | ▲ 14× |
| Profit (loss) for the period to be appropriated9905 | €13,539 | €86,409 | €27,974 | €7,904 | €1,337 | €18,587 | ▲ 14× |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €28,495 | €111,593 | €141,550 | €32,939 | €75,301 | €115,530 | ▲ 53.4% |
| Fixed assets21/28 | - | - | €15,080 | €19,691 | €33,960 | €80,137 | ▲ 136% |
| Tangible fixed assets22/27 | - | - | €15,080 | €19,691 | €33,960 | €80,137 | ▲ 136% |
| Plant, machinery and equipment23 | - | - | €9,658 | €15,408 | €3,004 | €22,664 | ▲ 654% |
| Furniture and vehicles24 | - | - | €5,422 | €4,283 | €30,956 | €57,473 | ▲ 85.7% |
| Current assets29/58 | €28,495 | €111,593 | €126,470 | €13,249 | €41,341 | €35,393 | ▼ 14.4% |
| Amounts receivable after more than one year29 | - | €70,424 | €102,644 | - | - | - | - |
| Other amounts receivable291 | - | €70,424 | €102,644 | - | - | - | - |
| Amounts receivable within one year40/41 | €12,338 | €17,270 | €7,157 | €12,802 | €2,177 | €32,179 | ▲ 15× |
| Trade receivables40 | - | €12,139 | €5,079 | €12,802 | €2,029 | €30,251 | ▲ 15× |
| Other amounts receivable41 | - | €5,131 | €2,078 | - | €149 | €1,928 | ▲ 13× |
| Cash at bank and in hand54/58 | €16,157 | €23,133 | €16,508 | €446 | €37,076 | €2,479 | ▼ 93.3% |
| Deferred charges and accrued income490/1 | - | €766 | €160 | - | €2,088 | €734 | ▼ 64.8% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €28,495 | €111,593 | €141,550 | €32,939 | €75,301 | €115,530 | ▲ 53.4% |
| Equity10/15 | €19,539 | €105,948 | €11,422 | €19,326 | €20,664 | €14,251 | ▼ 31.0% |
| Contributions10/11 | - | €6,000 | €6,000 | €6,000 | €6,000 | €6,000 | = |
| Reserves13 | €13,539 | €99,948 | €5,422 | €13,326 | €14,664 | €8,251 | ▼ 43.7% |
| Distributable reserves133 | - | €99,948 | €5,422 | €13,326 | €14,664 | €8,251 | ▼ 43.7% |
| Amounts payable17/49 | €8,956 | €5,645 | €130,128 | €13,613 | €54,638 | €101,279 | ▲ 85.4% |
| Amounts payable within one year42/48 | €8,956 | €5,645 | €130,128 | €13,613 | €54,638 | €101,279 | ▲ 85.4% |
| Trade debts44 | €1,674 | €1,189 | €381 | - | €15,220 | €856 | ▼ 94.4% |
| Suppliers440/4 | - | €1,189 | €381 | - | €15,220 | €856 | ▼ 94.4% |
| Advances received on contracts in progress46 | - | - | - | - | - | €24,500 | - |
| Taxes, remuneration and social security45 | - | €4,342 | €7,156 | €12,074 | €1,206 | €6,777 | ▲ 462% |
| Taxes450/3 | - | €4,342 | €7,156 | €12,074 | €1,206 | €6,777 | ▲ 462% |
| Other amounts payable47/48 | - | €113 | €122,591 | €1,539 | €38,212 | €69,147 | ▲ 81.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,539 | €86,409 | €27,974 | €7,904 | €1,337 | €18,587 | ▲ 14× |
| + Depreciation and write-downs630 | - | - | €1,030 | €3,040 | €1,850 | €15,823 | ▲ 755% |
| Operating cash flow (approximation) | €13,539 | €86,409 | €29,004 | €10,944 | €3,188 | €34,410 | ▲ 979% |
| Investment in fixed assets (approximation) | - | - | - | -€7,650 | -€16,120 | -€62,000 | ▼ 285% |
| Change in cash | - | €6,976 | -€6,625 | -€16,062 | €36,630 | -€34,597 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 17-07-2026 | 2026-00302735 | |
| 31-12-2024 | micro format | 26-06-2025 | 2025-00178874 | |
| 31-12-2023 | micro format | 27-06-2024 | 2024-00177834 | |
| 31-12-2022 | micro format | 29-06-2023 | 2023-00171580 | |
| 31-12-2021 | micro format | 28-06-2022 | 2022-20108483 | |
| 31-12-2020 | micro format | 29-07-2021 | 2021-43000406 |