Financials · financial year 2025, micro format
Annual accounts 2025 filed on 30-06-2026 at the NBB all 3 filings
Equity
€15,955▲ 6.5%
2024 · €14,974
Net result
€981
2024 · -€1,862
Total assets
€109,147▼ 2.9%
2024 · €112,415
Solvency
14.6%▲ 1.3pp
2024 · 13.3%
Multi-year overview
2023 to 2025, 3 financial yearsOperating result
€6,516
▲ 209%
2025
20232025
Net result
€981
2025
lowest quarter of the sector
20232025
Equity
€15,955
▲ 6.5%
2025
lowest quarter of the sector
20232025
Total assets
€109,147
▼ 2.9%
2025
lowest quarter of the sector
20232025
Debt
€93,192
▼ 4.4%
2025
20232025
Working capital
€6,886
2025
middle half of the sector
20232025
Solvency
14.6%
▲ 1.3pp
2025
lowest quarter of the sector
20232025
Current ratio
1.21
▲ 0.30
2025
middle half of the sector
20232025
Return on assets (ROA)
0.9%
▲ 2.6pp
2025
lowest quarter of the sector
20232025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202320242025
Operating result€19,463-€2,110▼ 89.2%€6,516▲ 209%
Net result€13,836within the sector's middle half--€1,862below the sector's middle half€981below the sector's middle half
Equity€16,836below the sector's middle half-€14,974below the sector's middle half▼ 11.1%€15,955below the sector's middle half▲ 6.5%
Total assets€27,884below the sector's middle half-€112,415below the sector's middle half▲ 303%€109,147below the sector's middle half▼ 2.9%
Debt€11,049-€97,441▲ 782%€93,192▼ 4.4%
Working capital€10,360within the sector's middle half--€2,444within the sector's middle half€6,886within the sector's middle half
Solvency60.4%within the sector's middle half-13.3%below the sector's middle half▼ 47.1pp14.6%below the sector's middle half▲ 1.3pp
Current ratio1.94within the sector's middle half-0.90within the sector's middle half▼ 1.031.21within the sector's middle half▲ 0.30
Return on assets (ROA)49.6%above the sector's middle half--1.7%below the sector's middle half▼ 51.3pp0.9%below the sector's middle half▲ 2.6pp
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 3.1 times that of 2024. It is a recovery after the fall in 2024.
Turnover and EBIT margin are not published. The 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 €109,147
Fixed assets
€69,100 ▼ 22.8%
Current assets
€40,047 ▲ 74.6%
Equity and liabilities €109,147
Equity
€15,955 ▲ 6.5%
Debt
€93,192 ▼ 4.4%
Debt's share of the balance-sheet total falls from 86.7% to 85.4%. Equity is higher and debt is lower.
Key figures and ratios
ROE
6.1%▲
2024 · -12.4%
Debt ≤ 1 year
€33,161▲
2024 · €25,384
Debt > 1 year
€58,846▼
2024 · €72,057
Income taxes
€1,794▲
2024 · €1,037
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | €969 | €101,362 | - |
| Financial fixed assets | €5,510 | - | - |
| Depreciation and write-downs of the year | €4 | €18,362 | €20,375 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4 | €18,362 | €20,375 | ▲ 11.0% |
| Other operating charges640/8 | - | €3,051 | €737 | ▼ 75.9% |
| Gross operating margin9900 | €19,467 | €23,523 | €27,628 | ▲ 17.4% |
| Operating profit (loss)9901 | €19,463 | €2,110 | €6,516 | ▲ 209% |
| Financial income75/76B | - | - | €2 | - |
| Recurring financial income75 | - | - | €2 | - |
| Financial charges65/66B | €20 | €2,935 | €3,744 | ▲ 27.6% |
| Recurring financial charges65 | €20 | €2,935 | €3,744 | ▲ 27.6% |
| Profit (loss) for the period before taxes9903 | €19,443 | -€825 | €2,775 | - |
| Income taxes67/77 | €5,608 | €1,037 | €1,794 | ▲ 73.1% |
| Profit (loss) for the period9904 | €13,836 | -€1,862 | €981 | - |
| Profit (loss) for the period to be appropriated9905 | €13,836 | -€1,862 | €981 | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €27,884 | €112,415 | €109,147 | ▼ 2.9% |
| Fixed assets21/28 | €6,475 | €89,475 | €69,100 | ▼ 22.8% |
| Tangible fixed assets22/27 | €965 | €83,965 | €63,590 | ▼ 24.3% |
| Furniture and vehicles24 | €965 | €81,926 | €61,771 | ▼ 24.6% |
| Other tangible fixed assets26 | - | €2,039 | €1,819 | ▼ 10.8% |
| Financial fixed assets28 | €5,510 | €5,510 | €5,510 | = |
| Current assets29/58 | €21,409 | €22,940 | €40,047 | ▲ 74.6% |
| Amounts receivable within one year40/41 | €13,000 | €9,582 | €10,113 | ▲ 5.5% |
| Trade receivables40 | €13,000 | €7,318 | €7,907 | ▲ 8.0% |
| Other amounts receivable41 | - | €2,264 | €2,207 | ▼ 2.5% |
| Cash at bank and in hand54/58 | €8,409 | €12,490 | €29,760 | ▲ 138% |
| Deferred charges and accrued income490/1 | - | €867 | €174 | ▼ 79.9% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €27,884 | €112,415 | €109,147 | ▼ 2.9% |
| Equity10/15 | €16,836 | €14,974 | €15,955 | ▲ 6.5% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | = |
| Reserves13 | €13,836 | €13,836 | €13,836 | = |
| Distributable reserves133 | €13,836 | €13,836 | €13,836 | = |
| Profit (loss) carried forward14 | - | -€1,862 | -€881 | ▲ 52.7% |
| Amounts payable17/49 | €11,049 | €97,441 | €93,192 | ▼ 4.4% |
| Amounts payable after more than one year17 | - | €72,057 | €58,846 | ▼ 18.3% |
| Financial debts170/4 | - | €72,057 | €58,846 | ▼ 18.3% |
| Amounts payable within one year42/48 | €11,049 | €25,384 | €33,161 | ▲ 30.6% |
| Current portion of amounts payable after more than one year42 | - | €12,771 | €13,211 | ▲ 3.4% |
| Trade debts44 | €969 | - | - | - |
| Suppliers440/4 | €969 | - | - | - |
| Taxes, remuneration and social security45 | €5,608 | €8,229 | €1,500 | ▼ 81.8% |
| Taxes450/3 | €5,608 | €7,967 | €1,500 | ▼ 81.2% |
| Remuneration and social security454/9 | - | €262 | - | - |
| Other amounts payable47/48 | €4,472 | €4,384 | €18,450 | ▲ 321% |
| Accrued charges and deferred income492/3 | - | - | €1,185 | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,836 | -€1,862 | €981 | - |
| + Depreciation and write-downs630 | €4 | €18,362 | €20,375 | ▲ 11.0% |
| Operating cash flow (approximation) | €13,839 | €16,501 | €21,356 | ▲ 29.4% |
| Investment in fixed assets (approximation) | - | -€101,362 | €0 | - |
| Change in cash | - | €4,081 | €17,270 | ▲ 323% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.