Financials · financial year 2025, full format
2025 annual accounts filed 26 days after the deadline Filed on 26 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00447290.
Annual accounts 2025 filed on 26-08-2026 at the NBB all 3 filings
Equity
€3.0m▲ 1.3%
2024 · €3.0m
Net result
€38,326▲ 12×
2024 · €3,130
Total assets
€4.0m▼ 6.5%
2024 · €4.3m
Solvency
73.8%▲ 5.7pp
2024 · 68.2%
Multi-year overview
2023 to 2025, 3 financial yearsTurnover
€1.5m
2025
20232025
Operating result
€54,187
▲ 750%
2025
20232025
Net result
€38,326
▲ 12×
2025
middle half of the sector
20232025
Equity
€3.0m
▲ 1.3%
2025
middle half of the sector
20232025
Total assets
€4.0m
▼ 6.5%
2025
middle half of the sector
20232025
Debt
€1.1m
▼ 23.1%
2025
20232025
Working capital
-€324,494
▼ 0.5%
2025
middle half of the sector
20232025
Solvency
73.8%
▲ 5.7pp
2025
middle half of the sector
20232025
Current ratio
0.69
▼ 0.07
2025
middle half of the sector
20232025
Return on assets (ROA)
0.9%
▲ 0.9pp
2025
middle half of the sector
20232025
Staff (FTE)
3.3
▼ 17.5%
2025
middle half of the sector
20232025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202320242025
Turnover€1.5m
Operating result€0.01m-€0.006m▼ 41.2%€0.05m▲ 750%
Net result€0.008mwithin the sector's middle half-€0.003mbelow the sector's middle half▼ 58.9%€0.04mwithin the sector's middle half▲ 12×
Equity€2.9mabove the sector's middle half-€3.0mabove the sector's middle half▲ 0.1%€3.0mwithin the sector's middle half▲ 1.3%
Total assets€3.8mabove the sector's middle half-€4.3mwithin the sector's middle half▲ 12.6%€4.0mwithin the sector's middle half▼ 6.5%
Debt€0.9m-€1.4m▲ 53.8%€1.1m▼ 23.1%
Working capital-€0.3mbelow the sector's middle half--€0.3mbelow the sector's middle half▲ 0.1%-€0.3mwithin the sector's middle half▼ 0.5%
Solvency76.7%within the sector's middle half-68.2%within the sector's middle half▼ 8.5pp73.8%within the sector's middle half▲ 5.7pp
Current ratio0.64below the sector's middle half-0.77within the sector's middle half▲ 0.130.69within the sector's middle half▼ 0.07
Return on assets (ROA)0.2%below the sector's middle half-0.1%below the sector's middle half▼ 0.1pp0.9%within the sector's middle half▲ 0.9pp
Staff (FTE)0.8-4above the sector's middle half▲ 400%3.3within the sector's middle half▼ 17.5%
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 8.5 times that of 2024 and the highest since 2023. It is a recovery after the fall in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.0m
Fixed assets
€3.3m ▲ 1.2%
Current assets
€734,346 ▼ 30.3%
Equity and liabilities €4.0m
Equity
€3.0m ▲ 1.3%
Debt
€1.1m ▼ 23.1%
Debt's share of the balance-sheet total falls from 31.8% to 26.2%. Equity is higher and debt is lower.
Key figures and ratios
ROE
1.3%▲
2024 · 0.1%
Debt ≤ 1 year
€1.1m▼
2024 · €1.4m
Income taxes
€15,746▲
2024 · €3,191
Staff costs
€252,464▼
2024 · €315,298
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|
| Employees at the balance-sheet date | 3 | 4 | 3 |
| full-time | 3 | 4 | 3 |
| part-time | 0 | 0 | 0 |
| in full-time equivalents | 3 | 4 | 3 |
| Average over the year, in full-time equivalents | 0.8 | 4 | 3.3 |
| On a permanent contract | 3 | 4 | 3 |
| Joined | 4 | 2 | 0 |
| Left | 1 | 1 | 1 |
Source: social balance sheet in the 2023 to 2025 annual accounts
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | - | - | €43,383 |
| Financial fixed assets | €3.3m | - | €0 |
| Depreciation and write-downs of the year | - | - | €3,447 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Operating income70/76A | - | - | €1.5m | - |
| Turnover70 | - | - | €1.5m | - |
| Other operating income74 | - | - | €0.004m | - |
| Operating charges60/66A | - | - | €1.4m | - |
| Services and other goods61 | - | - | €1.2m | - |
| Remuneration, social security and pensions62 | €0.07m | €0.3m | €0.3m | ▼ 19.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €0.003m | - |
| Other operating charges640/8 | €0.001m | €361 | €0.001m | ▲ 292% |
| Gross operating margin9900 | €0.08m | €0.3m | - | - |
| Operating profit (loss)9901 | €0.01m | €0.006m | €0.05m | ▲ 750% |
| Financial charges65/66B | €20 | €51 | €115 | ▲ 124% |
| Recurring financial charges65 | €20 | €51 | €115 | ▲ 124% |
| Debt charges650 | - | - | €115 | - |
| Profit (loss) for the period before taxes9903 | €0.01m | €0.006m | €0.05m | ▲ 755% |
| Income taxes67/77 | €0.003m | €0.003m | €0.02m | ▲ 393% |
| Taxes670/3 | - | - | €0.02m | - |
| Tax adjustments and reversals of tax provisions77 | - | - | €45 | - |
| Profit (loss) for the period9904 | €0.008m | €0.003m | €0.04m | ▲ 12× |
| Profit (loss) for the period to be appropriated9905 | €0.008m | €0.003m | €0.04m | ▲ 12× |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €3.8m | €4.3m | €4.0m | ▼ 6.5% |
| Fixed assets21/28 | €3.3m | €3.3m | €3.3m | ▲ 1.2% |
| Tangible fixed assets22/27 | - | - | €0.04m | - |
| Furniture and vehicles24 | - | - | €0.04m | - |
| Financial fixed assets28 | €3.3m | €3.3m | €3.3m | = |
| Affiliated companies280/1 | - | - | €3.3m | - |
| Participating interests280 | - | - | €3.3m | - |
| Other financial fixed assets284/8 | - | - | €60 | - |
| Amounts receivable and cash guarantees285/8 | - | - | €60 | - |
| Current assets29/58 | €0.6m | €1.1m | €0.7m | ▼ 30.3% |
| Stocks and contracts in progress3 | - | - | €0 | - |
| Amounts receivable within one year40/41 | €0.6m | €1.0m | €0.7m | ▼ 30.2% |
| Trade receivables40 | €0.3m | €0.7m | €0.5m | ▼ 28.0% |
| Other amounts receivable41 | €0.3m | €0.4m | €0.2m | ▼ 34.6% |
| Cash at bank and in hand54/58 | €0.003m | €0.005m | €0.002m | ▼ 68.1% |
| Deferred charges and accrued income490/1 | - | - | €0.001m | - |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €3.8m | €4.3m | €4.0m | ▼ 6.5% |
| Equity10/15 | €2.9m | €3.0m | €3.0m | ▲ 1.3% |
| Contributions10/11 | €2.9m | €2.9m | €2.9m | = |
| Capital10 | €2.9m | €2.9m | €2.9m | = |
| Issued capital100 | €2.9m | €2.9m | €2.9m | = |
| Reserves13 | €0.008m | €0.01m | €0.05m | ▲ 357% |
| Non-distributable reserves130/1 | €380 | €0.001m | €0.002m | ▲ 357% |
| Legal reserve130 | €380 | €0.001m | €0.002m | ▲ 357% |
| Distributable reserves133 | €0.007m | €0.01m | €0.05m | ▲ 357% |
| Amounts payable17/49 | €0.9m | €1.4m | €1.1m | ▼ 23.1% |
| Amounts payable within one year42/48 | €0.9m | €1.4m | €1.1m | ▼ 23.1% |
| Trade debts44 | €0.2m | €0.8m | €0.9m | ▲ 12.1% |
| Suppliers440/4 | €0.2m | €0.8m | €0.9m | ▲ 12.1% |
| Taxes, remuneration and social security45 | €0.06m | €0.05m | €0.06m | ▲ 13.2% |
| Taxes450/3 | €0.04m | €0.02m | €0.03m | ▲ 64.5% |
| Remuneration and social security454/9 | €0.01m | €0.03m | €0.03m | ▼ 11.9% |
| Other amounts payable47/48 | €0.6m | €0.6m | €0.2m | ▼ 73.4% |
| Accrued charges and deferred income492/3 | €0.003m | €0 | - | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €7,609 | €3,130 | €38,326 | ▲ 12× |
| + Depreciation and write-downs630 | - | - | €3,447 | - |
| Operating cash flow (approximation) | €7,609 | €3,130 | €41,773 | ▲ 13× |
| Investment in fixed assets (approximation) | - | €0 | -€43,383 | - |
| Change in cash | - | €1,675 | -€3,392 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.