Financials · financial year 2026, micro format
Annual accounts 2026 filed on 11-10-2026 at the NBB all 11 filings
Equity
€759,241▼ 3.0%
2025 · €783,098
Net result
€39,250▼ 56.4%
2025 · €90,032
Total assets
€790,707▼ 51.6%
2025 · €1.6m
Solvency
96.0%▲ 48.1pp
2025 · 47.9%
Multi-year overview
2019 to 2026, 8 financial yearsTurnover
no figure
2026
20192026
Operating result
€65,561
▼ 1.0%
2026
20192026
Net result
€39,250
▼ 56.4%
2026
20192026
Equity
€759,241
▼ 3.0%
2026
20192026
Total assets
€790,707
▼ 51.6%
2026
20192026
Debt
€31,466
▼ 96.3%
2026
20192026
Working capital
€757,389
2026
20192026
Solvency
96.0%
▲ 48.1pp
2026
20192026
Current ratio
25.07
▲ 24.60
2026
20192026
Return on assets (ROA)
5.0%
▼ 0.5pp
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Turnover€0.3m
Operating result€0.2m-€0.2m▼ 6.1%€0.2m▼ 11.7%€0.1m▼ 34.6%€0.03m▼ 74.8%€0.2m▲ 478%€0.07m▼ 63.8%€0.07m▼ 1.0%
Net result€0.1m-€0.1m▼ 9.5%€0.1mabove the sector's middle half▲ 1.6%€0.07mwithin the sector's middle half▼ 44.6%€0.02mwithin the sector's middle half▼ 72.1%€0.1mabove the sector's middle half▲ 498%€0.09mabove the sector's middle half▼ 25.6%€0.04m▼ 56.4%
Equity€0.3m-€0.4m▲ 50.3%€0.5mabove the sector's middle half▲ 32.0%€0.6mabove the sector's middle half▲ 14.3%€0.6mabove the sector's middle half▼ 1.5%€0.7mabove the sector's middle half▲ 21.1%€0.8mabove the sector's middle half▲ 13.0%€0.8m▼ 3.0%
Total assets€0.9m-€0.5m▼ 44.4%€1.0mabove the sector's middle half▲ 88.2%€1.5mabove the sector's middle half▲ 48.1%€1.5mabove the sector's middle half▲ 0.4%€1.6mabove the sector's middle half▲ 8.7%€1.6mabove the sector's middle half▲ 2.2%€0.8m▼ 51.6%
Debt€0.7m-€0.1m▼ 79.5%€0.5m▲ 242%€0.9m▲ 83.8%€0.9m▲ 1.6%€0.9m▲ 0.7%€0.9m▼ 6.1%€0.03m▼ 96.3%
Working capital€0.1m-€0.4m▲ 145%€0.4mabove the sector's middle half▲ 4.6%-€0.7mbelow the sector's middle half-€0.7mbelow the sector's middle half▼ 0.9%-€0.6mbelow the sector's middle half▲ 10.3%-€0.5mbelow the sector's middle half▲ 24.5%€0.8m
Solvency27.1%-73.2%▲ 46.1pp51.3%within the sector's middle half▼ 21.9pp39.6%within the sector's middle half▼ 11.7pp38.9%within the sector's middle half▼ 0.7pp43.3%within the sector's middle half▲ 4.5pp47.9%within the sector's middle half▲ 4.6pp96.0%▲ 48.1pp
Current ratio2.02-5.80▲ 3.784.72above the sector's middle half▼ 1.080.24below the sector's middle half▼ 4.470.26below the sector's middle half▲ 0.010.34below the sector's middle half▲ 0.080.47below the sector's middle half▲ 0.1325.07▲ 24.60
Return on assets (ROA)15.1%-24.5%▲ 9.4pp13.2%within the sector's middle half▼ 11.3pp4.9%within the sector's middle half▼ 8.3pp1.4%within the sector's middle half▼ 3.6pp7.6%within the sector's middle half▲ 6.2pp5.5%within the sector's middle half▼ 2.1pp5.0%▼ 0.5pp
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 2026 is 1% lower than in 2025. It is the second fall in a row.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €790,707
Fixed assets
€1,851 ▼ 99.9%
Current assets
€788,856 ▲ 97.7%
Equity and liabilities €790,707
Equity
€759,241 ▼ 3.0%
Debt
€31,466 ▼ 96.3%
Debt's share of the balance-sheet total falls from 52.1% to 4.0%. Equity and debt are lower.
Key figures and ratios
ROE
5.2%▼
2025 · 11.5%
Debt ≤ 1 year
€31,466▼
2025 · €850,689
Income taxes
€25,906▲
2025 · €25,270
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 | €113,099 | €11,221 | €239,817 | - | €101,793 |
| Financial fixed assets | €1.2m | - | - | - | - |
| Depreciation and write-downs of the year | €11,366 | €23,689 | €4,940 | €22,033 | €904 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | €321,450 | - | - | - | - | - |
| Non-recurring operating income76A | - | - | - | - | - | - | - | €15,000 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €134,999 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €61,184 | €41,355 | €57,447 | €11,366 | €23,689 | €4,940 | €22,033 | €904 | ▼ 95.9% |
| Other operating charges640/8 | - | - | - | €2,047 | €467 | €109 | €1,638 | €1,118 | ▼ 31.7% |
| Non-recurring operating charges66A | - | - | - | €77,412 | - | €182,942 | €36,339 | €52,519 | ▲ 44.5% |
| Gross operating margin9900 | €294,986 | €363,999 | €296,281 | €216,302 | €55,781 | €370,904 | €126,215 | €120,103 | ▼ 4.8% |
| Operating profit (loss)9901 | €231,297 | €217,210 | €191,797 | €125,477 | €31,625 | €182,913 | €66,206 | €65,561 | ▼ 1.0% |
| Financial income75/76B | - | - | - | - | - | - | €49,274 | €9 | ▼ 100.0% |
| Recurring financial income75 | €54 | €249 | €11 | - | - | - | €49,274 | €9 | ▼ 100.0% |
| Financial charges65/66B | - | - | - | €831 | €596 | €445 | €178 | €414 | ▲ 132% |
| Recurring financial charges65 | €15,176 | €19,203 | €7,944 | €831 | €596 | €445 | €178 | €414 | ▲ 132% |
| Profit (loss) for the period before taxes9903 | €216,174 | €198,256 | €183,864 | €124,646 | €31,029 | €182,468 | €115,301 | €65,157 | ▼ 43.5% |
| Income taxes67/77 | €73,848 | €69,421 | €52,994 | €52,161 | €10,811 | €61,505 | €25,270 | €25,906 | ▲ 2.5% |
| Profit (loss) for the period9904 | €142,326 | €128,836 | €130,870 | €72,485 | €20,218 | €120,963 | €90,032 | €39,250 | ▼ 56.4% |
| Profit (loss) for the period to be appropriated9905 | €142,326 | €128,836 | €130,870 | €72,485 | €20,218 | €120,963 | €90,032 | €39,250 | ▼ 56.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.9m | €0.5m | €1.0m | €1.5m | €1.5m | €1.6m | €1.6m | €0.8m | ▼ 51.6% |
| Fixed assets21/28 | €0.7m | €0.1m | €0.5m | €1.3m | €1.2m | €1.3m | €1.2m | €0.002m | ▼ 99.9% |
| Tangible fixed assets22/27 | €0.7m | €0.1m | €0.5m | €0.1m | €0.09m | €0.1m | €0.08m | €0.002m | ▼ 97.8% |
| Plant, machinery and equipment23 | - | - | - | €0.002m | €0.001m | €0.001m | €0.001m | €0.002m | ▲ 56.9% |
| Furniture and vehicles24 | - | - | - | €0.1m | €0.09m | €0.1m | €0.08m | €93 | ▼ 99.9% |
| Financial fixed assets28 | - | - | - | €1.2m | €1.2m | €1.2m | €1.2m | - | - |
| Current assets29/58 | €0.3m | €0.4m | €0.5m | €0.2m | €0.2m | €0.3m | €0.4m | €0.8m | ▲ 97.7% |
| Amounts receivable within one year40/41 | €0.07m | €0.1m | €0.07m | €0.06m | €0.03m | €0.02m | €0.01m | €0.01m | ▼ 13.4% |
| Trade receivables40 | - | - | - | €0.02m | €0.03m | €0.02m | €0.01m | - | - |
| Other amounts receivable41 | - | - | - | €0.05m | €0.004m | - | - | €0.01m | - |
| Cash at bank and in hand54/58 | €0.2m | €0.3m | €0.4m | €0.1m | €0.2m | €0.3m | €0.4m | €0.8m | ▲ 102% |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €0.001m | €0.003m | €0.003m | €0.001m | ▼ 69.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.9m | €0.5m | €1.0m | €1.5m | €1.5m | €1.6m | €1.6m | €0.8m | ▼ 51.6% |
| Equity10/15 | €0.3m | €0.4m | €0.5m | €0.6m | €0.6m | €0.7m | €0.8m | €0.8m | ▼ 3.0% |
| Contributions10/11 | €0.01m | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Reserves13 | €0.2m | €0.4m | €0.5m | €0.6m | €0.6m | €0.7m | €0.8m | €0.7m | ▼ 3.1% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Distributable reserves133 | - | - | - | €0.6m | €0.6m | €0.7m | €0.8m | €0.7m | ▼ 3.1% |
| Amounts payable17/49 | €0.7m | €0.1m | €0.5m | €0.9m | €0.9m | €0.9m | €0.9m | €0.03m | ▼ 96.3% |
| Amounts payable after more than one year17 | €0.5m | €0.07m | €0.4m | €0.01m | - | - | - | - | - |
| Financial debts170/4 | - | - | - | €0.01m | - | - | - | - | - |
| Amounts payable within one year42/48 | €0.1m | €0.07m | €0.1m | €0.9m | €0.9m | €0.9m | €0.9m | €0.03m | ▼ 96.3% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.02m | - | - | - | - | - |
| Financial debts43 | - | - | - | €0.005m | €0.005m | €0.005m | - | - | - |
| Credit institutions430/8 | - | - | - | €0.005m | €0.005m | €0.005m | - | - | - |
| Trade debts44 | €0.004m | €0.007m | €0.01m | €0.003m | €0.02m | €0.007m | €171 | €0.003m | ▲ 20× |
| Suppliers440/4 | - | - | - | €0.003m | €0.02m | €0.007m | €171 | €0.003m | ▲ 20× |
| Advances received on contracts in progress46 | - | - | - | €0.001m | €0.001m | €0.001m | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.001m | €0.005m | €0.06m | €0.02m | €0.03m | ▲ 63.1% |
| Taxes450/3 | - | - | - | €0.001m | €0.002m | €0.06m | €0.02m | €0.03m | ▲ 63.1% |
| Remuneration and social security454/9 | - | - | - | - | €0.003m | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €0.8m | €0.9m | €0.8m | €0.8m | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.1m | €0.1m | €0.1m | €0.07m | €0.02m | €0.1m | €0.09m | €0.04m | ▼ 56.4% |
| + Depreciation and write-downs630 | €0.06m | €0.04m | €0.06m | €0.01m | €0.02m | €0.005m | €0.02m | €0.001m | ▼ 95.9% |
| Operating cash flow (approximation) | €0.2m | €0.2m | €0.2m | €0.08m | €0.04m | €0.1m | €0.1m | €0.04m | ▼ 64.2% |
| Investment in fixed assets (approximation) | - | €0.5m | -€0.5m | -€0.7m | -€0.01m | -€0.06m | €0.03m | €1.2m | ▲ 35× |
| Change in cash | - | €0.07m | €0.1m | -€0.3m | €0.05m | €0.09m | €0.1m | €0.4m | ▲ 292% |
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 11 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | micro format | 11-10-2026 | 2026-00554430 | |
| 31-03-2025 | micro format | 15-10-2025 | 2025-00545126 | |
| 31-03-2024 | micro format | 14-10-2024 | 2024-00507342 | |
| 31-03-2023 | micro format | 31-10-2023 | 2023-00504039 | |
| 31-03-2022 | micro format | 29-11-2022 | 2022-20527213 | |
| 31-03-2021 | micro format | 03-11-2021 | 2021-76300262 | |
| 31-03-2020 | micro format | 26-11-2020 | 2020-72300322 | |
| 31-03-2019 | micro format | 21-11-2019 | 2019-74100274 | |
| 31-03-2018 | micro format | 30-10-2018 | 2018-71000079 | |
| 31-03-2017 | micro format | 23-10-2017 | 2017-67600163 |