Financials · financial year 2025, micro format
Annual accounts 2025 filed on 26-06-2026 at the NBB all 4 filings
Equity
€155,043▲ 54.3%
2024 · €100,508
Net result
€54,535▲ 35.1%
2024 · €40,378
Total assets
€289,158▲ 146%
2024 · €117,712
Solvency
53.6%▼ 31.8pp
2024 · 85.4%
Multi-year overview
2022 to 2025, 4 financial yearsOperating result
€80,881
▲ 40.2%
2025
20222025
Net result
€54,535
▲ 35.1%
2025
middle half of the sector
20222025
Equity
€155,043
▲ 54.3%
2025
middle half of the sector
20222025
Total assets
€289,158
▲ 146%
2025
middle half of the sector
20222025
Debt
€134,115
▲ 680%
2025
20222025
Working capital
€141,043
▲ 67.4%
2025
middle half of the sector
20222025
Solvency
53.6%
▼ 31.8pp
2025
middle half of the sector
20222025
Current ratio
2.05
▼ 3.84
2025
middle half of the sector
20222025
Return on assets (ROA)
18.9%
▼ 15.4pp
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€53,806-€27,148▼ 49.5%€57,694▲ 113%€80,881▲ 40.2%
Net result€37,819within the sector's middle half-€18,810within the sector's middle half▼ 50.3%€40,378within the sector's middle half▲ 115%€54,535within the sector's middle half▲ 35.1%
Equity€41,319within the sector's middle half-€60,130within the sector's middle half▲ 45.5%€100,508within the sector's middle half▲ 67.2%€155,043within the sector's middle half▲ 54.3%
Total assets€68,393below the sector's middle half-€85,360below the sector's middle half▲ 24.8%€117,712below the sector's middle half▲ 37.9%€289,158within the sector's middle half▲ 146%
Debt€27,074-€25,230▼ 6.8%€17,204▼ 31.8%€134,115▲ 680%
Working capital€28,232within the sector's middle half-€41,580within the sector's middle half▲ 47.3%€84,231within the sector's middle half▲ 103%€141,043within the sector's middle half▲ 67.4%
Solvency60.4%within the sector's middle half-70.4%within the sector's middle half▲ 10.0pp85.4%above the sector's middle half▲ 14.9pp53.6%within the sector's middle half▼ 31.8pp
Current ratio2.04within the sector's middle half-2.65within the sector's middle half▲ 0.615.90above the sector's middle half▲ 3.252.05within the sector's middle half▼ 3.84
Return on assets (ROA)55.3%above the sector's middle half-22.0%within the sector's middle half▼ 33.3pp34.3%above the sector's middle half▲ 12.3pp18.9%within the sector's middle half▼ 15.4pp
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 40% higher than in 2024 and the highest since 2022. It is the second rise in a row, after the fall in 2023.
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 €289,158
Fixed assets
€13,999 ▼ 14.0%
Current assets
€275,158 ▲ 171%
Equity and liabilities €289,158
Equity
€155,043 ▲ 54.3%
Debt
€134,115 ▲ 680%
Debt's share of the balance-sheet total rises from 14.6% to 46.4%. Equity and debt are higher.
Key figures and ratios
ROE
35.2%▼
2024 · 40.2%
Debt ≤ 1 year
€134,115▲
2024 · €17,204
Income taxes
€25,219▲
2024 · €15,749
Staff costs
€4,370▲
2024 · €805
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 | €14,439 | €9,694 | €2,803 | €2,762 |
| Depreciation and write-downs of the year | €1,351 | €4,232 | €5,076 | €5,039 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €1,120 | €805 | €4,370 | ▲ 443% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,351 | €4,232 | €5,076 | €5,039 | ▼ 0.7% |
| Other operating charges640/8 | €2,478 | €1,070 | €638 | €928 | ▲ 45.5% |
| Gross operating margin9900 | €57,635 | €33,570 | €64,213 | €91,218 | ▲ 42.1% |
| Operating profit (loss)9901 | €53,806 | €27,148 | €57,694 | €80,881 | ▲ 40.2% |
| Financial income75/76B | €292 | €296 | €565 | €624 | ▲ 10.5% |
| Recurring financial income75 | €292 | €296 | €565 | €624 | ▲ 10.5% |
| Financial charges65/66B | €122 | €629 | €2,132 | €1,751 | ▼ 17.9% |
| Recurring financial charges65 | €122 | €629 | €2,132 | €1,751 | ▼ 17.9% |
| Profit (loss) for the period before taxes9903 | €53,976 | €26,816 | €56,127 | €79,755 | ▲ 42.1% |
| Income taxes67/77 | €16,156 | €8,006 | €15,749 | €25,219 | ▲ 60.1% |
| Profit (loss) for the period9904 | €37,819 | €18,810 | €40,378 | €54,535 | ▲ 35.1% |
| Profit (loss) for the period to be appropriated9905 | €37,819 | €18,810 | €40,378 | €54,535 | ▲ 35.1% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €68,393 | €85,360 | €117,712 | €289,158 | ▲ 146% |
| Fixed assets21/28 | €13,088 | €18,549 | €16,276 | €13,999 | ▼ 14.0% |
| Tangible fixed assets22/27 | €13,088 | €18,549 | €16,276 | €13,999 | ▼ 14.0% |
| Land and buildings22 | - | €7,715 | €6,886 | €6,058 | ▼ 12.0% |
| Plant, machinery and equipment23 | €1,596 | €1,943 | €2,846 | €2,034 | ▼ 28.5% |
| Furniture and vehicles24 | €11,491 | €8,892 | €6,545 | €5,908 | ▼ 9.7% |
| Current assets29/58 | €55,306 | €66,810 | €101,436 | €275,158 | ▲ 171% |
| Amounts receivable within one year40/41 | €5,165 | €8,530 | €12,061 | €12,165 | ▲ 0.9% |
| Other amounts receivable41 | €5,165 | €8,530 | €12,061 | €12,165 | ▲ 0.9% |
| Current investments50/53 | - | - | - | €38,000 | - |
| Cash at bank and in hand54/58 | €50,054 | €58,044 | €89,375 | €224,994 | ▲ 152% |
| Deferred charges and accrued income490/1 | €87 | €236 | - | - | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €68,393 | €85,360 | €117,712 | €289,158 | ▲ 146% |
| Equity10/15 | €41,319 | €60,130 | €100,508 | €155,043 | ▲ 54.3% |
| Contributions10/11 | €3,500 | €3,500 | €3,500 | €3,500 | = |
| Reserves13 | €37,500 | €56,300 | €96,600 | €151,100 | ▲ 56.4% |
| Distributable reserves133 | €37,500 | €56,300 | €96,600 | €151,100 | ▲ 56.4% |
| Profit (loss) carried forward14 | €319 | €330 | €408 | €443 | ▲ 8.6% |
| Amounts payable17/49 | €27,074 | €25,230 | €17,204 | €134,115 | ▲ 680% |
| Amounts payable within one year42/48 | €27,074 | €25,230 | €17,204 | €134,115 | ▲ 680% |
| Trade debts44 | €10,917 | €1,068 | €1,455 | €93,146 | ▲ 64× |
| Suppliers440/4 | €10,917 | €1,068 | €1,455 | €93,146 | ▲ 64× |
| Taxes, remuneration and social security45 | €16,156 | €24,162 | €15,749 | €40,969 | ▲ 160% |
| Taxes450/3 | €16,156 | €24,162 | €15,749 | €40,969 | ▲ 160% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €37,819 | €18,810 | €40,378 | €54,535 | ▲ 35.1% |
| + Depreciation and write-downs630 | €1,351 | €4,232 | €5,076 | €5,039 | ▼ 0.7% |
| Operating cash flow (approximation) | €39,170 | €23,042 | €45,454 | €59,574 | ▲ 31.1% |
| Investment in fixed assets (approximation) | - | -€9,694 | -€2,803 | -€2,762 | ▲ 1.5% |
| Change in cash | - | €7,990 | €31,331 | €135,619 | ▲ 333% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.