Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 02-07-2026 at the NBB all 4 filings
Equity
€54,940▼ 47.8%
2024 · €105,167
Net result
€49,773▼ 18.3%
2024 · €60,886
Total assets
€180,290▲ 24.5%
2024 · €144,815
Solvency
30.5%▼ 42.1pp
2024 · 72.6%
Multi-year overview
2022 to 2025, 4 financial yearsOperating result
€63,398
▼ 18.1%
2025
20222025
Net result
€49,773
▼ 18.3%
2025
middle half of the sector
20222025
Equity
€54,940
▼ 47.8%
2025
lowest quarter of the sector
20222025
Total assets
€180,290
▲ 24.5%
2025
lowest quarter of the sector
20222025
Debt
€125,350
▲ 216%
2025
20222025
Working capital
€47,126
▼ 54.1%
2025
middle half of the sector
20222025
Solvency
30.5%
▼ 42.1pp
2025
middle half of the sector
20222025
Current ratio
1.38
▼ 2.24
2025
middle half of the sector
20222025
Return on assets (ROA)
27.6%
▼ 14.4pp
2025
highest quarter of the sector
20222025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Operating result€26,755-€27,510▲ 2.8%€77,420▲ 181%€63,398▼ 18.1%
Net result€20,365within the sector's middle half-€20,916within the sector's middle half▲ 2.7%€60,886within the sector's middle half▲ 191%€49,773within the sector's middle half▼ 18.3%
Equity€23,365below the sector's middle half-€44,281below the sector's middle half▲ 89.5%€105,167below the sector's middle half▲ 137%€54,940below the sector's middle half▼ 47.8%
Total assets€40,204below the sector's middle half-€78,027below the sector's middle half▲ 94.1%€144,815below the sector's middle half▲ 85.6%€180,290below the sector's middle half▲ 24.5%
Debt€16,838-€33,746▲ 100%€39,648▲ 17.5%€125,350▲ 216%
Working capital€23,365within the sector's middle half-€44,281within the sector's middle half▲ 89.5%€102,604within the sector's middle half▲ 132%€47,126within the sector's middle half▼ 54.1%
Solvency58.1%within the sector's middle half-56.8%within the sector's middle half▼ 1.4pp72.6%within the sector's middle half▲ 15.9pp30.5%within the sector's middle half▼ 42.1pp
Current ratio2.39within the sector's middle half-2.31within the sector's middle half▼ 0.083.62above the sector's middle half▲ 1.311.38within the sector's middle half▼ 2.24
Return on assets (ROA)50.7%above the sector's middle half-26.8%above the sector's middle half▼ 23.8pp42.0%above the sector's middle half▲ 15.2pp27.6%above the sector's middle half▼ 14.4pp
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 18% lower than in 2024.
Turnover and EBIT margin are not published. The abbreviated 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 €180,290
Fixed assets
€7,814 ▲ 159%
Current assets
€172,476 ▲ 21.6%
Equity and liabilities €180,290
Equity
€54,940 ▼ 47.8%
Debt
€125,350 ▲ 216%
Debt's share of the balance-sheet total rises from 27.4% to 69.5%. Equity is lower and debt is higher.
Key figures and ratios
ROE
90.6%▲
2024 · 57.9%
Debt ≤ 1 year
€125,350▲
2024 · €39,198
Income taxes
€13,174▼
2024 · €15,849
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 | - | - | €3,654 | €6,192 |
| Depreciation and write-downs of the year | - | - | €641 | €1,391 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 · 1 entry · €267 awarded · €267 paidAnnual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €641 | €1,391 | ▲ 117% |
| Other operating charges640/8 | €675 | €356 | €808 | €454 | ▼ 43.8% |
| Gross operating margin9900 | €27,430 | €27,866 | €78,869 | €65,244 | ▼ 17.3% |
| Operating profit (loss)9901 | €26,755 | €27,510 | €77,420 | €63,398 | ▼ 18.1% |
| Financial income75/76B | €1 | - | €10 | - | - |
| Recurring financial income75 | €1 | - | €10 | - | - |
| Financial charges65/66B | €958 | €798 | €695 | €452 | ▼ 35.0% |
| Recurring financial charges65 | €958 | €798 | €695 | €452 | ▼ 35.0% |
| Profit (loss) for the period before taxes9903 | €25,797 | €26,711 | €76,735 | €62,947 | ▼ 18.0% |
| Income taxes67/77 | €5,432 | €5,796 | €15,849 | €13,174 | ▼ 16.9% |
| Profit (loss) for the period9904 | €20,365 | €20,916 | €60,886 | €49,773 | ▼ 18.3% |
| Profit (loss) for the period to be appropriated9905 | €20,365 | €20,916 | €60,886 | €49,773 | ▼ 18.3% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €40,204 | €78,027 | €144,815 | €180,290 | ▲ 24.5% |
| Fixed assets21/28 | - | - | €3,013 | €7,814 | ▲ 159% |
| Tangible fixed assets22/27 | - | - | €3,013 | €7,814 | ▲ 159% |
| Plant, machinery and equipment23 | - | - | €3,013 | €4,774 | ▲ 58.5% |
| Furniture and vehicles24 | - | - | - | €3,040 | - |
| Current assets29/58 | €40,204 | €78,027 | €141,802 | €172,476 | ▲ 21.6% |
| Amounts receivable within one year40/41 | €1,784 | €14,147 | €15,868 | €66,338 | ▲ 318% |
| Trade receivables40 | €1,753 | €14,112 | €15,868 | €15,962 | ▲ 0.6% |
| Other amounts receivable41 | €31 | €35 | - | €50,375 | - |
| Cash at bank and in hand54/58 | €38,086 | €63,535 | €125,573 | €105,766 | ▼ 15.8% |
| Deferred charges and accrued income490/1 | €333 | €346 | €362 | €372 | ▲ 2.9% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €40,204 | €78,027 | €144,815 | €180,290 | ▲ 24.5% |
| Equity10/15 | €23,365 | €44,281 | €105,167 | €54,940 | ▼ 47.8% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Reserves13 | €20,365 | €41,281 | €102,167 | €51,940 | ▼ 49.2% |
| Distributable reserves133 | €20,365 | €41,281 | €102,167 | €51,940 | ▼ 49.2% |
| Amounts payable17/49 | €16,838 | €33,746 | €39,648 | €125,350 | ▲ 216% |
| Amounts payable within one year42/48 | €16,838 | €33,746 | €39,198 | €125,350 | ▲ 220% |
| Trade debts44 | €161 | €7,095 | €6,318 | €3,012 | ▼ 52.3% |
| Suppliers440/4 | €161 | €7,095 | €6,318 | €3,012 | ▼ 52.3% |
| Taxes, remuneration and social security45 | €16,646 | €24,322 | €32,682 | €37,339 | ▲ 14.2% |
| Taxes450/3 | €14,146 | €21,822 | €30,182 | €34,839 | ▲ 15.4% |
| Remuneration and social security454/9 | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Other amounts payable47/48 | €31 | €2,329 | €198 | €85,000 | ▲ 429× |
| Accrued charges and deferred income492/3 | - | - | €450 | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €20,365 | €20,916 | €60,886 | €49,773 | ▼ 18.3% |
| + Depreciation and write-downs630 | - | - | €641 | €1,391 | ▲ 117% |
| Operating cash flow (approximation) | €20,365 | €20,916 | €61,527 | €51,164 | ▼ 16.8% |
| Investment in fixed assets (approximation) | - | - | - | -€6,192 | - |
| Change in cash | - | €25,449 | €62,038 | -€19,806 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.