Financials · financial year 2026, micro format
Annual accounts 2026 filed on 18-09-2026 at the NBB all 17 filings
Equity
€816,110▼ 20.6%
2025 · €1.0m
Net result
€68,230▼ 30.9%
2025 · €98,796
Total assets
€1.2m▼ 0.4%
2025 · €1.2m
Solvency
70.3%▼ 17.9pp
2025 · 88.2%
Multi-year overview
2019 to 2026, 8 financial yearsOperating result
€8,159
▼ 87.4%
2026
20192026
Net result
€68,230
▼ 30.9%
2026
20192026
Equity
€816,110
▼ 20.6%
2026
20192026
Total assets
€1.2m
▼ 0.4%
2026
20192026
Debt
€345,072
▲ 151%
2026
20192026
Working capital
€275,183
▼ 7.8%
2026
20192026
Solvency
70.3%
▼ 17.9pp
2026
20192026
Current ratio
4.03
▼ 2.67
2026
20192026
Return on assets (ROA)
5.9%
▼ 2.6pp
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result€0.08m-€0.05m▼ 41.1%€0.08m▲ 64.8%€0.3m▲ 285%€0.5m▲ 51.7%€0.06m▼ 87.0%€0.06m▲ 8.7%€0.008m▼ 87.4%
Net result€0.05m-€0.03m▼ 45.8%€0.05mwithin the sector's middle half▲ 87.6%€0.2mabove the sector's middle half▲ 315%€0.3mabove the sector's middle half▲ 57.3%€0.09mabove the sector's middle half▼ 70.0%€0.1mabove the sector's middle half▲ 4.1%€0.07m▼ 30.9%
Equity€0.4m-€0.4m▲ 6.9%€0.4mabove the sector's middle half▲ 9.6%€0.6mabove the sector's middle half▲ 41.5%€0.9mabove the sector's middle half▲ 44.6%€1.0mabove the sector's middle half▲ 8.8%€1.0mabove the sector's middle half▲ 5.0%€0.8m▼ 20.6%
Total assets€0.5m-€0.7m▲ 33.0%€0.7mabove the sector's middle half▲ 2.3%€0.8mabove the sector's middle half▲ 25.6%€1.1mabove the sector's middle half▲ 27.1%€1.1mabove the sector's middle half▲ 6.0%€1.2mabove the sector's middle half▲ 2.7%€1.2m▼ 0.4%
Debt€0.1m-€0.3m▲ 116%€0.2m▼ 9.1%€0.2m▼ 4.7%€0.2m▼ 22.4%€0.2m▼ 9.1%€0.1m▼ 11.7%€0.3m▲ 151%
Working capital€0.1m-€0.1m▲ 22.9%€0.2mabove the sector's middle half▲ 27.3%€0.4mabove the sector's middle half▲ 95.5%€0.6mabove the sector's middle half▲ 66.7%€0.3mabove the sector's middle half▼ 58.1%€0.3mabove the sector's middle half▲ 14.7%€0.3m▼ 7.8%
Solvency76.2%-61.2%▼ 14.9pp65.5%within the sector's middle half▲ 4.3pp73.9%above the sector's middle half▲ 8.3pp84.0%above the sector's middle half▲ 10.2pp86.3%above the sector's middle half▲ 2.3pp88.2%above the sector's middle half▲ 1.9pp70.3%▼ 17.9pp
Current ratio8.47-6.51▼ 1.977.83above the sector's middle half▲ 1.3210.03above the sector's middle half▲ 2.2015.64above the sector's middle half▲ 5.616.41above the sector's middle half▼ 9.236.70above the sector's middle half▲ 0.294.03▼ 2.67
Return on assets (ROA)9.7%-3.9%▼ 5.7pp7.2%within the sector's middle half▲ 3.3pp23.9%above the sector's middle half▲ 16.6pp29.5%above the sector's middle half▲ 5.7pp8.4%within the sector's middle half▼ 21.2pp8.5%within the sector's middle half▲ 0.1pp5.9%▼ 2.6pp
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 2026 is 87% lower than in 2025 and the lowest since 2022.
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
2026 in colour, 2025 as the grey bar beneath
Assets €1.2m
Fixed assets
€795,249 ▼ 2.4%
Current assets
€365,933 ▲ 4.3%
Equity and liabilities €1.2m
Equity
€816,110 ▼ 20.6%
Debt
€345,072 ▲ 151%
Debt's share of the balance-sheet total rises from 11.8% to 29.7%. Equity is lower and debt is higher.
Key figures and ratios
ROE
8.4%▼
2025 · 9.6%
Debt ≤ 1 year
€90,750▲
2025 · €52,356
Debt > 1 year
€253,675▲
2025 · €84,869
Income taxes
€7,617▼
2025 · €27,136
Staff costs
€5,579▲
2025 · €5,465
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €10,158 | €7,760 | €1,099 |
| Financial fixed assets | - | - | €426,755 | - | €0 |
| Depreciation and write-downs of the year | €23,853 | €21,191 | €18,173 | €19,454 | €20,295 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €5,000 | - | - | - | - | - | - | - |
| Remuneration, social security and pensions62 | - | €5,296 | - | €5,175 | €5,175 | €5,492 | €5,465 | €5,579 | ▲ 2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18,516 | €19,276 | €24,265 | €23,853 | €21,191 | €18,173 | €19,454 | €20,295 | ▲ 4.3% |
| Other operating charges640/8 | - | €15,930 | - | €1,687 | €1,448 | €1,560 | €1,356 | €1,392 | ▲ 2.6% |
| Non-recurring operating charges66A | - | - | - | €0 | - | - | - | - | - |
| Gross operating margin9900 | €106,808 | €88,079 | €115,296 | €332,555 | €485,800 | €84,916 | €91,135 | €35,425 | ▼ 61.1% |
| Operating profit (loss)9901 | €80,764 | €47,577 | €78,407 | €301,839 | €457,985 | €59,689 | €64,858 | €8,159 | ▼ 87.4% |
| Financial income75/76B | - | €590 | - | €485 | €2,814 | €66,309 | €69,935 | €77,650 | ▲ 11.0% |
| Recurring financial income75 | €357 | €590 | €674 | €485 | €2,814 | €66,309 | €69,935 | €77,650 | ▲ 11.0% |
| Financial charges65/66B | - | €4,125 | - | €4,830 | €4,233 | €6,096 | €8,861 | €9,963 | ▲ 12.4% |
| Recurring financial charges65 | €3,820 | €4,125 | €5,406 | €4,830 | €4,233 | €6,096 | €8,861 | €9,963 | ▲ 12.4% |
| Profit (loss) for the period before taxes9903 | €77,302 | €44,042 | €73,675 | €297,493 | €456,566 | €119,902 | €125,932 | €75,847 | ▼ 39.8% |
| Income taxes67/77 | €29,698 | €18,223 | €25,248 | €96,542 | €140,498 | €25,033 | €27,136 | €7,617 | ▼ 71.9% |
| Profit (loss) for the period9904 | €47,604 | €25,819 | €48,427 | €200,952 | €316,067 | €94,870 | €98,796 | €68,230 | ▼ 30.9% |
| Profit (loss) for the period to be appropriated9905 | €47,604 | €25,819 | €48,427 | €200,952 | €316,067 | €94,870 | €98,796 | €68,230 | ▼ 30.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.5m | €0.7m | €0.7m | €0.8m | €1.1m | €1.1m | €1.2m | €1.2m | ▼ 0.4% |
| Fixed assets21/28 | €0.4m | €0.5m | €0.5m | €0.4m | €0.4m | €0.8m | €0.8m | €0.8m | ▼ 2.4% |
| Tangible fixed assets22/27 | €0.1m | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 10.6% |
| Land and buildings22 | - | €0.3m | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 10.7% |
| Plant, machinery and equipment23 | - | €412 | - | - | - | - | - | - | - |
| Furniture and vehicles24 | - | €0.004m | - | €0 | - | €0.005m | €0.006m | €0.005m | ▼ 8.7% |
| Financial fixed assets28 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.6m | €0.6m | €0.6m | = |
| Current assets29/58 | €0.1m | €0.2m | €0.2m | €0.4m | €0.7m | €0.3m | €0.4m | €0.4m | ▲ 4.3% |
| Amounts receivable within one year40/41 | €0.002m | €0.002m | €0.01m | €0.2m | €0.4m | €0 | €0.06m | €0.006m | ▼ 90.3% |
| Trade receivables40 | - | - | - | €0.2m | €0.4m | €0 | - | - | - |
| Other amounts receivable41 | - | €0.002m | - | €0.004m | €0.02m | €0 | €0.06m | €0.006m | ▼ 90.3% |
| Current investments50/53 | €0.04m | €0.06m | €0.09m | €0.1m | €0.2m | €0.2m | €0.2m | €0.3m | ▲ 18.9% |
| Cash at bank and in hand54/58 | €0.1m | €0.1m | €0.1m | €0.1m | €0.09m | €0.1m | €0.06m | €0.09m | ▲ 47.8% |
| Deferred charges and accrued income490/1 | - | €0.002m | - | €0.01m | €0 | €0.001m | €179 | €185 | ▲ 3.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.5m | €0.7m | €0.7m | €0.8m | €1.1m | €1.1m | €1.2m | €1.2m | ▼ 0.4% |
| Equity10/15 | €0.4m | €0.4m | €0.4m | €0.6m | €0.9m | €1.0m | €1.0m | €0.8m | ▼ 20.6% |
| Contributions10/11 | €0.2m | €0.2m | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Reserves13 | €0.2m | €0.2m | €0.2m | €0.4m | €0.7m | €0.8m | €0.8m | €0.6m | ▼ 26.3% |
| Non-distributable reserves130/1 | - | €0.008m | - | €0.008m | €0.008m | €0 | - | - | - |
| Reserves not available under the articles1311 | - | €0.008m | - | €0.008m | €0.008m | €0 | - | - | - |
| Tax-exempt reserves132 | - | €0.02m | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Distributable reserves133 | - | €0.2m | - | €0.4m | €0.7m | €0.7m | €0.8m | €0.6m | ▼ 26.8% |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €0.1m | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | €0.1m | €0.3m | ▲ 151% |
| Amounts payable after more than one year17 | €0.1m | €0.2m | €0.2m | €0.2m | €0.1m | €0.1m | €0.08m | €0.3m | ▲ 199% |
| Financial debts170/4 | - | €0.2m | - | €0.2m | €0.1m | €0.1m | €0.08m | €0.3m | ▲ 199% |
| Amounts payable within one year42/48 | €0.02m | €0.03m | €0.03m | €0.04m | €0.04m | €0.05m | €0.05m | €0.09m | ▲ 73.3% |
| Current portion of amounts payable after more than one year42 | - | €0.02m | - | €0.03m | €0.02m | €0.02m | €0.02m | €0.07m | ▲ 201% |
| Trade debts44 | €0.001m | €0.003m | €0.001m | €0.001m | €0.001m | €0.002m | €320 | €0.002m | ▲ 399% |
| Suppliers440/4 | - | €0.003m | - | €0.001m | €0.001m | €0.002m | €320 | €0.002m | ▲ 399% |
| Taxes, remuneration and social security45 | - | - | - | - | - | €0.001m | €0.002m | €469 | ▼ 69.3% |
| Taxes450/3 | - | - | - | - | - | €0.001m | €0.002m | €469 | ▼ 69.3% |
| Other amounts payable47/48 | - | €445 | - | €0.006m | €0.02m | €0.02m | €0.03m | €0.02m | ▼ 22.5% |
| Accrued charges and deferred income492/3 | - | - | - | - | €0.001m | €0.001m | €0 | €0.001m | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €47,604 | €25,819 | €48,427 | €200,952 | €316,067 | €94,870 | €98,796 | €68,230 | ▼ 30.9% |
| + Depreciation and write-downs630 | €18,516 | €19,276 | €24,265 | €23,853 | €21,191 | €18,173 | €19,454 | €20,295 | ▲ 4.3% |
| Operating cash flow (approximation) | €66,120 | €45,095 | €72,692 | €224,805 | €337,258 | €113,043 | €118,251 | €88,525 | ▼ 25.1% |
| Investment in fixed assets (approximation) | - | -€143,079 | €1,947 | €0 | €0 | -€436,914 | -€7,760 | -€1,099 | ▲ 85.8% |
| Change in cash | - | €19,283 | €5,368 | -€12,162 | -€24,328 | €16,774 | -€41,212 | €29,215 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | micro format | 18-09-2026 | 2026-00516975 | |
| 31-03-2025 | micro format | 29-10-2025 | 2025-00561971 | |
| 31-03-2024 | micro format | 23-10-2024 | 2024-00513863 | |
| 31-03-2023 | micro format | 30-10-2023 | 2023-00497640 | |
| 31-03-2022 | micro format | 27-10-2022 | 2022-20474299 | |
| 31-03-2021 | micro format | 09-11-2021 | 2021-76900243 | |
| 31-03-2020 | micro format | 12-11-2020 | 2020-70000205 | |
| 31-03-2019 | micro format | 01-10-2019 | 2019-68300599 | |
| 31-03-2018 | abbreviated format | 25-09-2018 | 2018-64600383 | |
| 31-03-2017 | abbreviated format | 21-09-2017 | 2017-61900093 |