Financials · financial year 2025, full format
Annual accounts 2025 filed on 27-07-2026 at the NBB all 25 filings
Equity
€19.4m▼ 0.4%
2024 · €19.4m
Net result
-€74,334
2024 · €2.5m
Total assets
€32.0m▲ 11.4%
2024 · €28.8m
Solvency
60.5%▼ 7.1pp
2024 · 67.6%
In the rankings
#1 company by total assets in Zandhoven, Finance and insurance sector#1 company by equity in Zandhoven, Finance and insurance sector#8 oldest company in Zandhoven, Finance and insurance sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€3,813
2025
20182025
Net result
-€74,334
2025
lowest quarter of the sector
20182025
Equity
€19.4m
▼ 0.4%
2025
middle half of the sector
20182025
Total assets
€32.0m
▲ 11.4%
2025
middle half of the sector
20182025
Debt
€12.7m
▲ 35.9%
2025
20182025
Working capital
€1.0m
▼ 73.6%
2025
middle half of the sector
20182025
Solvency
60.5%
▼ 7.1pp
2025
middle half of the sector
20182025
Current ratio
1.29
▼ 1.61
2025
middle half of the sector
20182025
Return on assets (ROA)
-0.2%
▼ 9.0pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
0
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€0.04m--€0.05m▼ 28.9%-€0.06m▼ 22.2%-€0.03m▲ 52.7%€0.04m€0.004m▼ 89.8%€0.02m▲ 393%-€0.004m
Net result€1.1m-€1.0m▼ 6.2%€0.01mwithin the sector's middle half▼ 98.9%€0.01mwithin the sector's middle half▲ 25.9%-€0.01mbelow the sector's middle half€4.0mabove the sector's middle half€2.5mabove the sector's middle half▼ 37.3%-€0.07mbelow the sector's middle half
Equity€13.9m-€14.9m▲ 7.4%€14.9mabove the sector's middle half▲ 0.1%€14.9mabove the sector's middle half▲ 0.1%€12.9mabove the sector's middle half▼ 13.5%€16.9mabove the sector's middle half▲ 30.9%€19.4mabove the sector's middle half▲ 14.8%€19.4mwithin the sector's middle half▼ 0.4%
Total assets€17.8m-€18.5m▲ 3.9%€18.5mabove the sector's middle half▼ 0.2%€20.5mabove the sector's middle half▲ 10.9%€21.8mabove the sector's middle half▲ 6.6%€23.9mabove the sector's middle half▲ 9.6%€28.8mabove the sector's middle half▲ 20.1%€32.0mwithin the sector's middle half▲ 11.4%
Debt€3.9m-€3.6m▼ 8.5%€3.5m▼ 1.1%€5.5m▲ 56.4%€8.9m▲ 60.7%€7.0m▼ 21.3%€9.3m▲ 32.9%€12.7m▲ 35.9%
Working capital€5.0m-€3.9m▼ 22.7%€3.1mabove the sector's middle half▼ 18.9%-€0.1mwithin the sector's middle half-€0.6mbelow the sector's middle half▼ 312%€1.0mabove the sector's middle half€3.8mabove the sector's middle half▲ 291%€1.0mwithin the sector's middle half▼ 73.6%
Solvency78.0%-80.6%▲ 2.6pp80.8%above the sector's middle half▲ 0.2pp73.0%within the sector's middle half▼ 7.9pp59.2%within the sector's middle half▼ 13.7pp70.7%within the sector's middle half▲ 11.5pp67.6%within the sector's middle half▼ 3.1pp60.5%within the sector's middle half▼ 7.1pp
Current ratio5.94-16.03▲ 10.103.88above the sector's middle half▼ 12.150.95within the sector's middle half▼ 2.940.81within the sector's middle half▼ 0.131.49within the sector's middle half▲ 0.672.90within the sector's middle half▲ 1.411.29within the sector's middle half▼ 1.61
Return on assets (ROA)6.1%-5.5%▼ 0.6pp0.1%below the sector's middle half▼ 5.5pp0.1%below the sector's middle half=-0.1%below the sector's middle half▼ 0.1pp16.7%above the sector's middle half▲ 16.8pp8.7%within the sector's middle half▼ 8.0pp-0.2%below the sector's middle half▼ 9.0pp
Staff (FTE)0.5-0.5=0.5below the sector's middle half=0.5below the sector's middle half=0.5within the sector's middle half=0.5within the sector's middle half=0within the sector's middle half▼ 100%0below the sector's middle half
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 a loss of €3,813, after a profit of €21,571 in 2024.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €32.0m
Fixed assets
€27.5m ▲ 20.0%
Current assets
€4.5m ▼ 22.5%
Equity and liabilities €32.0m
Equity
€19.4m ▼ 0.4%
Debt
€12.7m ▲ 35.9%
Debt's share of the balance-sheet total rises from 32.4% to 39.5%. Equity is lower and debt is higher.
Key figures and ratios
ROE
-0.4%▼
2024 · 12.9%
Debt ≤ 1 year
€3.5m▲
2024 · €2.0m
Debt > 1 year
€9.1m▲
2024 · €7.3m
Income taxes
€946▲
2024 · €911
Staff costs
€23,267▲
2024 · €22,318
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 |
|---|---|---|---|
| Employees at the balance-sheet date | 1 | - | 1 |
| full-time | - | - | 0 |
| part-time | 1 | - | 1 |
| in full-time equivalents | 0.5 | - | 0.5 |
| Average over the year, in full-time equivalents | 0.5 | 0.5 | 0.5 |
| On a permanent contract | 1 | - | 1 |
Source: social balance sheet in the 2021 to 2023 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €2,380 | - | - | - | €32,598 |
| Financial fixed assets | €7.3m | - | €1.6m | - | €5.0m |
| Depreciation and write-downs of the year | €5,578 | €6,210 | €5,546 | €4,749 | €6,802 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €0.02m | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | ▲ 4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.02m | €0.02m | €0.02m | €0.006m | €0.006m | €0.006m | €0.005m | €0.007m | ▲ 43.2% |
| Other operating charges640/8 | - | - | - | €0.001m | €0.002m | €0.003m | €0.002m | €0.003m | ▲ 11.7% |
| Non-recurring operating charges66A | - | - | - | €4 | €0 | - | - | - | - |
| Gross operating margin9900 | €0.006m | -€0.003m | -€0.01m | -€0.001m | €0.07m | €0.03m | €0.05m | €0.03m | ▼ 43.3% |
| Operating profit (loss)9901 | -€0.04m | -€0.05m | -€0.06m | -€0.03m | €0.04m | €0.004m | €0.02m | -€0.004m | - |
| Financial income75/76B | - | - | - | €0.1m | €0.09m | €4.1m | €2.6m | €0.08m | ▼ 96.8% |
| Recurring financial income75 | €1.2m | €1.1m | €0.1m | €0.1m | €0.09m | €4.1m | €0.1m | €0.08m | ▼ 22.2% |
| Non-recurring financial income76B | - | - | - | - | €0 | - | €2.5m | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €0.08m | €0.1m | €0.08m | €0.1m | €0.2m | ▲ 36.4% |
| Recurring financial charges65 | €0.07m | €0.06m | €0.06m | €0.08m | €0.1m | €0.08m | €0.1m | €0.2m | ▲ 36.4% |
| Profit (loss) for the period before taxes9903 | €1.1m | €1.0m | €0.01m | €0.02m | -€0.01m | €4.0m | €2.5m | -€0.07m | - |
| Income taxes67/77 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | ▲ 3.9% |
| Profit (loss) for the period9904 | €1.1m | €1.0m | €0.01m | €0.01m | -€0.01m | €4.0m | €2.5m | -€0.07m | - |
| Profit (loss) for the period to be appropriated9905 | €1.1m | €1.0m | €0.01m | €0.01m | -€0.01m | €4.0m | €2.5m | -€0.07m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €17.8m | €18.5m | €18.5m | €20.5m | €21.8m | €23.9m | €28.8m | €32.0m | ▲ 11.4% |
| Fixed assets21/28 | €11.8m | €14.4m | €14.3m | €18.1m | €19.4m | €20.9m | €22.9m | €27.5m | ▲ 20.0% |
| Intangible fixed assets21 | - | - | €0.04m | €0.04m | €0.03m | €0.03m | €0.02m | €0.02m | ▼ 17.7% |
| Tangible fixed assets22/27 | €0.1m | €0.08m | €0.05m | €0.06m | €0.05m | €0.05m | €0.03m | €0.03m | ▼ 0.4% |
| Land and buildings22 | - | - | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.02m | ▼ 36.7% |
| Plant, machinery and equipment23 | - | - | - | €0.002m | €0.001m | €0.001m | €0 | - | - |
| Furniture and vehicles24 | - | - | - | - | - | - | - | €0.01m | - |
| Other tangible fixed assets26 | - | - | - | €0.02m | €0.02m | €0.02m | €0.004m | €0.004m | = |
| Financial fixed assets28 | €11.7m | €14.3m | €14.2m | €18.0m | €19.3m | €20.9m | €22.9m | €27.4m | ▲ 20.0% |
| Current assets29/58 | €6.0m | €4.1m | €4.2m | €2.4m | €2.4m | €3.0m | €5.8m | €4.5m | ▼ 22.5% |
| Amounts receivable after more than one year29 | - | - | - | €2.3m | €2.4m | €2.9m | €5.4m | €4.1m | ▼ 23.1% |
| Other amounts receivable291 | - | - | - | €2.3m | €2.4m | €2.9m | €5.4m | €4.1m | ▼ 23.1% |
| Stocks and contracts in progress3 | - | - | - | - | - | - | €0.4m | €0.4m | = |
| Stocks30/36 | - | - | - | - | - | - | €0.4m | €0.4m | = |
| Amounts receivable within one year40/41 | €0.2m | €0.02m | €0.02m | €0.005m | €0.06m | €0.04m | €0.03m | €0.03m | ▼ 17.3% |
| Trade receivables40 | - | - | - | €0.004m | €0.05m | €0.04m | €0.03m | €0.03m | ▼ 18.6% |
| Other amounts receivable41 | - | - | - | €0.001m | €0.002m | €0.003m | €0.001m | €0.001m | ▲ 56.2% |
| Cash at bank and in hand54/58 | €0.01m | €0.008m | €0.007m | €0.01m | €0.01m | €0.01m | €0.07m | €0.003m | ▼ 96.1% |
| Deferred charges and accrued income490/1 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | ▲ 2.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €17.8m | €18.5m | €18.5m | €20.5m | €21.8m | €23.9m | €28.8m | €32.0m | ▲ 11.4% |
| Equity10/15 | €13.9m | €14.9m | €14.9m | €14.9m | €12.9m | €16.9m | €19.4m | €19.4m | ▼ 0.4% |
| Contributions10/11 | €2.1m | €2.1m | €2.1m | €2.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Capital10 | - | - | - | €2.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Issued capital100 | - | - | - | €2.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Reserves13 | €11.8m | €12.8m | €12.8m | €12.8m | €12.8m | €16.8m | €19.3m | €19.3m | ▼ 0.4% |
| Non-distributable reserves130/1 | - | - | - | €0.2m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Legal reserve130 | - | - | - | €0.2m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Distributable reserves133 | - | - | - | €12.6m | €12.8m | €16.8m | €19.3m | €19.3m | ▼ 0.4% |
| Amounts payable17/49 | €3.9m | €3.6m | €3.5m | €5.5m | €8.9m | €7.0m | €9.3m | €12.7m | ▲ 35.9% |
| Amounts payable after more than one year17 | €2.9m | €3.3m | €2.5m | €3.0m | €5.9m | €5.0m | €7.3m | €9.1m | ▲ 25.0% |
| Financial debts170/4 | - | - | - | €3.0m | €2.5m | €2.8m | €3.1m | €4.8m | ▲ 52.7% |
| Other amounts payable178/9 | - | - | - | - | €3.4m | €2.2m | €4.2m | €4.3m | ▲ 4.0% |
| Amounts payable within one year42/48 | €1.0m | €0.3m | €1.1m | €2.5m | €3.0m | €2.0m | €2.0m | €3.5m | ▲ 74.6% |
| Financial debts43 | - | - | - | €2.5m | €1.0m | €0 | - | €1.5m | - |
| Credit institutions430/8 | - | - | - | €0.5m | €1.0m | €0 | - | €1.0m | - |
| Other loans439 | - | - | - | €2.0m | €0 | - | - | €0.5m | - |
| Trade debts44 | €330 | €0.003m | €0.002m | €0.001m | €0.003m | €0.003m | €0.003m | €0.004m | ▲ 39.2% |
| Suppliers440/4 | - | - | - | €0.001m | €0.003m | €0.003m | €0.003m | €0.004m | ▲ 39.2% |
| Taxes, remuneration and social security45 | - | - | - | €0.005m | €0.003m | €0.01m | €0.01m | €0.01m | ▲ 12.6% |
| Taxes450/3 | - | - | - | €0.003m | €335 | €0.007m | €0.009m | €0.01m | ▲ 15.5% |
| Remuneration and social security454/9 | - | - | - | €0.002m | €0.003m | €0.003m | €0.003m | €0.003m | ▲ 3.9% |
| Other amounts payable47/48 | - | - | - | - | €2.0m | €2.0m | €2.0m | €2.0m | = |
| Accrued charges and deferred income492/3 | - | - | - | €0.008m | €472 | €0 | €0.001m | €0.02m | ▲ 19× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.1m | €1.0m | €0.01m | €0.01m | -€0.01m | €4.0m | €2.5m | -€0.07m | - |
| + Depreciation and write-downs630 | €0.02m | €0.02m | €0.02m | €0.006m | €0.006m | €0.006m | €0.005m | €0.007m | ▲ 43.2% |
| Operating cash flow (approximation) | €1.1m | €1.0m | €0.04m | €0.02m | -€0.007m | €4.0m | €2.5m | -€0.07m | - |
| Investment in fixed assets (approximation) | - | -€2.6m | €0.1m | -€3.9m | -€1.3m | -€1.6m | -€2.0m | -€4.6m | ▼ 132% |
| Change in cash | - | -€0.004m | -€0.002m | €0.005m | -€434 | €0.004m | €0.05m | -€0.06m | - |
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 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 27-07-2026 | 2026-00333828 | |
| 31-12-2024 | abbreviated format | 24-07-2025 | 2025-00301928 | |
| 31-12-2023 | abbreviated format | 23-07-2024 | 2024-00272420 | |
| 31-12-2022 | abbreviated format | 14-07-2023 | 2023-00239231 | |
| 31-12-2021 | abbreviated format | 14-04-2022 | 2022-20005995 | |
| 31-12-2020 | abbreviated format | 28-07-2021 | 2021-43900456 | |
| 31-12-2019 | abbreviated format | 24-07-2020 | 2020-36000503 | |
| 31-12-2018 | abbreviated format | 30-07-2019 | 2019-40300564 | |
| 31-12-2017 | abbreviated format | 27-07-2018 | 2018-39600047 | |
| 31-12-2016 | abbreviated format | 31-07-2017 | 2017-38600287 |