Financials · financial year 2025, micro format
Annual accounts 2025 filed on 28-07-2026 at the NBB all 22 filings
Equity
€1.0m▲ 2.1%
2024 · €1.0m
Net result
€20,934
2024 · -€1,963
Total assets
€1.1m▲ 2.9%
2024 · €1.0m
Solvency
97.8%▼ 0.8pp
2024 · 98.6%
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€29,215
▲ 380%
2025
20182025
Net result
€20,934
2025
middle half of the sector
20182025
Equity
€1.0m
▲ 2.1%
2025
highest quarter of the sector
20182025
Total assets
€1.1m
▲ 2.9%
2025
highest quarter of the sector
20182025
Debt
€22,958
▲ 56.9%
2025
20182025
Working capital
€104,168
▲ 25.2%
2025
middle half of the sector
20182025
Solvency
97.8%
▼ 0.8pp
2025
highest quarter of the sector
20182025
Current ratio
5.54
▼ 1.15
2025
highest quarter of the sector
20182025
Return on assets (ROA)
2.0%
▲ 2.2pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€0.009m--€0.02m▼ 102%-€0.02m▼ 17.1%-€0.03m▼ 18.0%€0.03m€0.009m▼ 69.9%€0.006m▼ 29.3%€0.03m▲ 380%
Net result-€38--€0.01m▼ 35,486%-€0.02mbelow the sector's middle half▼ 40.7%-€0.03mbelow the sector's middle half▼ 31.4%€0.02mwithin the sector's middle half€0.009mwithin the sector's middle half▼ 51.8%-€0.002mbelow the sector's middle half€0.02mwithin the sector's middle half
Equity€0.1m-€0.09m▼ 13.1%€0.2mwithin the sector's middle half▲ 151%€0.2mwithin the sector's middle half▼ 11.1%€1.0mwithin the sector's middle half▲ 396%€1.0mabove the sector's middle half▲ 0.9%€1.0mabove the sector's middle half▼ 0.2%€1.0mabove the sector's middle half▲ 2.1%
Total assets€0.2m-€0.1m▼ 37.0%€0.2mbelow the sector's middle half▲ 92.6%€0.2mbelow the sector's middle half▼ 10.0%€1.0mwithin the sector's middle half▲ 380%€1.0mabove the sector's middle half▲ 0.8%€1.0mabove the sector's middle half▲ 1.3%€1.1mabove the sector's middle half▲ 2.9%
Debt€0.09m-€0.03m▼ 65.4%€0.005m▼ 82.5%€0.007m▲ 33.9%€0.001m▼ 86.3%€0.01m€0.02m▲ 56.9%
Working capital€0.1m-€0.09m▼ 33.5%€0.07mwithin the sector's middle half▼ 21.1%€0.05mwithin the sector's middle half▼ 34.7%€0.05mwithin the sector's middle half▼ 2.4%€0.08mwithin the sector's middle half€0.1mwithin the sector's middle half▲ 25.2%
Solvency54.2%-74.9%▲ 20.6pp97.7%above the sector's middle half▲ 22.9pp96.6%above the sector's middle half▼ 1.1pp99.9%above the sector's middle half▲ 3.3pp100.0%above the sector's middle half▲ 0.1pp98.6%above the sector's middle half▼ 1.4pp97.8%above the sector's middle half▼ 0.8pp
Current ratio3.43-3.98▲ 0.5414.40above the sector's middle half▲ 10.437.94above the sector's middle half▼ 6.4647.55above the sector's middle half▲ 39.616.69above the sector's middle half5.54above the sector's middle half▼ 1.15
Return on assets (ROA)0.0%--11.3%▼ 11.2pp-8.2%below the sector's middle half▲ 3.0pp-12.0%below the sector's middle half▼ 3.8pp1.8%within the sector's middle half▲ 13.8pp0.8%below the sector's middle half▼ 0.9pp-0.2%below the sector's middle half▼ 1.0pp2.0%within the sector's middle half▲ 2.2pp
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 4.8 times that of 2024 and the highest since 2021. It is a recovery after the fall in 2024.
Turnover and EBIT margin are not published. The abbreviated or 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 €1.1m
Fixed assets
€924,219 =
Current assets
€127,125 ▲ 29.9%
Equity and liabilities €1.1m
Equity
€1.0m ▲ 2.1%
Debt
€22,958 ▲ 56.9%
Debt's share of the balance-sheet total rises from 1.4% to 2.2%. Equity and debt are higher.
Key figures and ratios
ROE
2.0%▲
2024 · -0.2%
Debt ≤ 1 year
€22,958▲
2024 · €14,630
Income taxes
€7,620▼
2024 · €8,021
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €943,500 | - | - |
| Financial fixed assets | - | - | €20,800 | - | €0 |
| Depreciation and write-downs of the year | - | €53 | - | €40,081 | €0 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | €53 | - | €40,081 | €0 | ▼ 100% |
| Other operating charges640/8 | - | - | - | €7,158 | €7,271 | €7,691 | €9,189 | €9,500 | ▲ 3.4% |
| Gross operating margin9900 | -€3,320 | -€12,837 | -€15,741 | -€19,280 | €35,895 | €16,289 | €55,351 | €38,715 | ▼ 30.1% |
| Operating profit (loss)9901 | -€9,487 | -€19,130 | -€22,398 | -€26,438 | €28,571 | €8,597 | €6,082 | €29,215 | ▲ 380% |
| Financial income75/76B | - | - | - | €2,188 | €34 | - | - | €1 | - |
| Recurring financial income75 | €11,988 | €8,014 | €4,846 | €2,188 | €34 | - | - | €1 | - |
| Financial charges65/66B | - | - | - | €485 | €10,852 | €42 | €24 | €662 | ▲ 28× |
| Recurring financial charges65 | €2,165 | €2,139 | €1,222 | €485 | €10,852 | €42 | €24 | €662 | ▲ 28× |
| Profit (loss) for the period before taxes9903 | €336 | -€13,253 | -€18,775 | -€24,735 | €17,754 | €8,555 | €6,058 | €28,554 | ▲ 371% |
| Income taxes67/77 | €374 | €306 | €301 | €330 | - | - | €8,021 | €7,620 | ▼ 5.0% |
| Profit (loss) for the period9904 | -€38 | -€13,558 | -€19,075 | -€25,065 | €17,754 | €8,555 | -€1,963 | €20,934 | - |
| Profit (loss) for the period to be appropriated9905 | -€38 | -€13,558 | -€19,075 | -€25,065 | €17,754 | €8,555 | -€1,963 | €20,934 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.2m | €0.1m | €0.2m | €0.2m | €1.0m | €1.0m | €1.0m | €1.1m | ▲ 2.9% |
| Fixed assets21/28 | €62 | - | €0.2m | €0.2m | €1.0m | €1.0m | €0.9m | €0.9m | = |
| Tangible fixed assets22/27 | - | - | €0.2m | €0.2m | €0.9m | €0.9m | €0.9m | €0.9m | = |
| Land and buildings22 | - | - | - | €0.2m | €0.9m | €0.9m | €0.9m | €0.9m | = |
| Financial fixed assets28 | €62 | - | - | - | €0.01m | €0.02m | €0.02m | €0.02m | = |
| Current assets29/58 | €0.2m | €0.1m | €0.08m | €0.05m | €0.05m | €0.05m | €0.1m | €0.1m | ▲ 29.9% |
| Amounts receivable within one year40/41 | €0.1m | €0.1m | €0.05m | €0.05m | €0.04m | €0.04m | €0.04m | €0.1m | ▲ 200% |
| Trade receivables40 | - | - | - | - | €0.02m | - | - | - | - |
| Other amounts receivable41 | - | - | - | €0.05m | €0.03m | €0.04m | €0.04m | €0.1m | ▲ 200% |
| Cash at bank and in hand54/58 | €0.01m | - | €0.03m | €0.001m | €0.001m | €9 | €0.001m | €34 | ▼ 96.9% |
| Deferred charges and accrued income490/1 | - | - | - | €0.001m | €0.001m | €0.001m | €0.05m | €0.001m | ▼ 98.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.2m | €0.1m | €0.2m | €0.2m | €1.0m | €1.0m | €1.0m | €1.1m | ▲ 2.9% |
| Equity10/15 | €0.1m | €0.09m | €0.2m | €0.2m | €1.0m | €1.0m | €1.0m | €1.0m | ▲ 2.1% |
| Contributions10/11 | €0.006m | €0.006m | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Revaluation surpluses12 | - | - | - | €0.2m | €0.9m | €0.9m | €0.9m | €0.9m | = |
| Reserves13 | €0.1m | €0.08m | €0.06m | €0.04m | €0.05m | €0.06m | €0.1m | €0.1m | ▲ 21.4% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | - | €0.002m | €0.002m | = |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | - | €0.002m | €0 | ▼ 100% |
| Other1319 | - | - | - | - | - | - | - | €0.002m | - |
| Distributable reserves133 | - | - | - | €0.04m | €0.05m | €0.06m | €0.1m | €0.1m | ▲ 21.8% |
| Amounts payable17/49 | €0.09m | €0.03m | €0.005m | €0.007m | €0.001m | - | €0.01m | €0.02m | ▲ 56.9% |
| Amounts payable after more than one year17 | €0.02m | - | - | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €0.06m | €0.03m | €0.005m | €0.007m | €0.001m | - | €0.01m | €0.02m | ▲ 56.9% |
| Trade debts44 | €370 | €0.002m | €0.001m | €0.006m | €0.001m | - | €0.006m | €0.005m | ▼ 14.9% |
| Suppliers440/4 | - | - | - | €0.006m | €0.001m | - | €0.006m | €0.005m | ▼ 14.9% |
| Taxes, remuneration and social security45 | - | - | - | €0.001m | €274 | - | €0.008m | €0.02m | ▲ 95.0% |
| Taxes450/3 | - | - | - | €0.001m | €274 | - | €0.008m | €0.02m | ▲ 95.0% |
| Other amounts payable47/48 | - | - | - | - | - | - | €219 | €0.002m | ▲ 758% |
| Accrued charges and deferred income492/3 | - | - | - | €409 | - | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€38 | -€13,558 | -€19,075 | -€25,065 | €17,754 | €8,555 | -€1,963 | €20,934 | - |
| + Depreciation and write-downs630 | - | - | - | - | €53 | - | €40,081 | €0 | ▼ 100% |
| Operating cash flow (approximation) | -€38 | -€13,558 | -€19,075 | -€25,065 | €17,807 | €8,555 | €38,117 | €20,934 | ▼ 45.1% |
| Investment in fixed assets (approximation) | - | - | - | €0 | -€799,890 | -€8,853 | €0 | €0 | - |
| Change in cash | - | - | - | -€24,871 | -€140 | -€980 | €1,092 | -€1,067 | - |
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 22 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 28-07-2026 | 2026-00341400 | |
| 31-12-2024 | micro format | 25-08-2025 | 2025-00397206 | |
| 31-12-2023 | micro format | 30-08-2024 | 2024-00406155 | |
| 31-12-2022 | abbreviated format | 13-03-2023 | 2023-00038410 | |
| 31-12-2021 | abbreviated format | 26-07-2022 | 2022-20230998 | |
| 31-12-2020 | abbreviated format | 28-07-2021 | 2021-42100074 | |
| 31-12-2019 | abbreviated format | 08-09-2020 | 2020-51800562 | |
| 31-12-2018 | abbreviated format | 23-07-2019 | 2019-36900550 | |
| 31-12-2017 | abbreviated format | 19-07-2018 | 2018-35400010 | |
| 31-12-2016 | abbreviated format | 10-07-2017 | 2017-29600211 |