Financials · financial year 2025, full format
Annual accounts 2025 filed on 12-06-2026 PDF all 27 filings
Equity
€23.1m▲ 1.7%
2024 · €22.8m
Net result
€391,381▼ 67.6%
2024 · €1.2m
Total assets
€23.6m▼ 4.9%
2024 · €24.8m
Solvency
98.2%▲ 6.4pp
2024 · 91.8%
In the rankings
#9 employer in Beveren-Kruibeke-Zwijndrecht, Finance and insurance sector#10 company by equity in Beveren-Kruibeke-Zwijndrecht, Finance and insurance sector
Multi-year overview
2019 to 2025, 7 financial yearsTurnover
€1.6m
▲ 44.1%
2025
20192025
Operating result
€401,940
▲ 121%
2025
20192025
Net result
€391,381
▼ 67.6%
2025
middle half of the sector
20192025
Equity
€23.1m
▲ 1.7%
2025
highest quarter of the sector
20192025
Total assets
€23.6m
▼ 4.9%
2025
middle half of the sector
20192025
Debt
€411,443
▼ 79.7%
2025
20192025
Working capital
€8.6m
▼ 11.8%
2025
highest quarter of the sector
20192025
Solvency
98.2%
▲ 6.4pp
2025
highest quarter of the sector
20192025
Current ratio
21.84
▲ 0.22
2025
highest quarter of the sector
20192025
Return on assets (ROA)
1.7%
▼ 3.2pp
2025
middle half of the sector
20192025
Staff (FTE)
11.8
▲ 21.6%
2025
highest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Turnover€1.0m-€1.1m▲ 7.4%€0.9m▼ 19.5%€1.1m▲ 25.5%€1.1m▲ 2.9%€1.1m▼ 1.6%€1.6m▲ 44.1%
Operating result€0.7m-€0.4m▼ 46.2%€0.3m▼ 24.4%€0.5m▲ 67.3%€0.3m▼ 38.3%€0.2m▼ 35.2%€0.4m▲ 121%
Net result€0.6m-€0.4mwithin the sector's middle half▼ 34.2%€1.5mabove the sector's middle half▲ 261%€3.4mabove the sector's middle half▲ 127%€0.2mwithin the sector's middle half▼ 93.6%€1.2mabove the sector's middle half▲ 458%€0.4mwithin the sector's middle half▼ 67.6%
Equity€16.1m-€16.5mwithin the sector's middle half▲ 2.6%€18.0mwithin the sector's middle half▲ 9.0%€21.3mabove the sector's middle half▲ 18.7%€21.5mabove the sector's middle half▲ 1.0%€22.8mabove the sector's middle half▲ 5.6%€23.1mabove the sector's middle half▲ 1.7%
Total assets€19.9m-€19.5mwithin the sector's middle half▼ 1.9%€19.0mwithin the sector's middle half▼ 2.9%€23.5mwithin the sector's middle half▲ 23.7%€23.7mwithin the sector's middle half▲ 0.9%€24.8mwithin the sector's middle half▲ 4.8%€23.6mwithin the sector's middle half▼ 4.9%
Debt€3.8m-€3.0m▼ 20.6%€1.0m▼ 67.6%€2.1m▲ 115%€2.1m▼ 0.2%€2.0m▼ 3.7%€0.4m▼ 79.7%
Working capital€3.5m-€3.2mabove the sector's middle half▼ 6.6%€4.7mabove the sector's middle half▲ 45.8%€9.2mabove the sector's middle half▲ 95.5%€8.6mabove the sector's middle half▼ 6.7%€9.7mabove the sector's middle half▲ 12.9%€8.6mabove the sector's middle half▼ 11.8%
Solvency80.7%-84.4%within the sector's middle half▲ 3.7pp94.7%above the sector's middle half▲ 10.4pp90.9%above the sector's middle half▼ 3.8pp91.0%above the sector's middle half▲ 0.1pp91.8%above the sector's middle half▲ 0.7pp98.2%above the sector's middle half▲ 6.4pp
Current ratio9.49-10.28above the sector's middle half▲ 0.7827.06above the sector's middle half▲ 16.7831.99above the sector's middle half▲ 4.9329.43above the sector's middle half▼ 2.5721.63above the sector's middle half▼ 7.8021.84above the sector's middle half▲ 0.22
Return on assets (ROA)3.1%-2.1%within the sector's middle half▼ 1.0pp7.8%within the sector's middle half▲ 5.7pp14.3%above the sector's middle half▲ 6.5pp0.9%within the sector's middle half▼ 13.4pp4.9%within the sector's middle half▲ 4.0pp1.7%within the sector's middle half▼ 3.2pp
Staff (FTE)4.8-6within the sector's middle half▲ 25.0%5.9within the sector's middle half▼ 1.7%6.4within the sector's middle half▲ 8.5%7.3within the sector's middle half▲ 14.1%9.7above the sector's middle half▲ 32.9%11.8above the sector's middle half▲ 21.6%
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 121% higher than in 2024. It is a recovery after the fall in 2024.
Large changes and their cause
- 2021 Net result +261% on 2020. The previous financial year ran 15 months, this one 12.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €23.6m
Fixed assets
€14.6m ▼ 0.2%
Current assets
€9.0m ▼ 11.8%
Equity and liabilities €23.6m
Equity
€23.1m ▲ 1.7%
Provisions
€15,253 ▼ 5.3%
Debt
€411,443 ▼ 79.7%
Debt's share of the balance-sheet total falls from 8.2% to 1.7%. Equity is higher and debt is lower.
Key figures and ratios
ROE
1.7%▼
2024 · 5.3%
Debt ≤ 1 year
€411,443▼
2024 · €471,201
Income taxes
€152,373▲
2024 · €60,379
Staff costs
€824,650▲
2024 · €627,596
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 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 6 | 6 | 8 | 10 | 11 |
| full-time | 6 | 5 | 8 | 9 | 10 |
| part-time | - | 1 | - | 1 | 1 |
| in full-time equivalents | 6 | 5.8 | 8 | 9.8 | 10.8 |
| Average over the year, in full-time equivalents | 5.9 | 6.3 | 7.3 | 9.7 | 11.8 |
| On a permanent contract | 6 | 6 | 8 | 10 | 11 |
| Joined | 16 | 31 | 21 | 31 | 19 |
| Left | 15 | 31 | 19 | 29 | 18 |
| Agency workers, average number | 1 | 0.1 | 0.7 | - | - |
| Training hours | 257 | 307 | 220 | 289 | 869 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €201,097 | €1.8m | €1.8m | €1.8m | €58,359 |
| Mortgages, amount registered | €635,000 | €2.5m | €2.5m | €2.5m | €52,500 |
| Mortgage mandates | - | - | - | - | €2.4m |
| Carrying value of the mortgaged assets | €681,951 | €3.7m | €3.7m | €3.7m | €795,137 |
| Guarantees given for others' debts | - | - | - | - | €635,000 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €18,636 | €29,252 | €10,962 | €21,062 | €43,175 |
| Intangible fixed assets | - | - | €26,970 | €21,099 | €6,681 |
| Financial fixed assets | - | - | €931,000 | - | - |
| Depreciation and write-downs of the year | €87,264 | €90,447 | €85,208 | €75,533 | €73,794 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Auditor
The auditor is Groupe Audit Belgium.
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Fee for the audit | - | - | - | - | €4,500 |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | €0.9m | €1.2m | €1.2m | €1.2m | €1.6m | ▲ 36.5% |
| Turnover70 | €1.0m | €1.1m | €0.9m | €1.1m | €1.1m | €1.1m | €1.6m | ▲ 44.1% |
| Other operating income74 | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.03m | ▲ 45.3% |
| Non-recurring operating income76A | - | - | - | €0.06m | €0.1m | €0.06m | - | - |
| Operating charges60/66A | - | - | €0.6m | €0.7m | €0.9m | €1.0m | €1.2m | ▲ 21.1% |
| Purchases600/8 | - | - | €0.003m | €0.008m | €0.005m | €0.004m | €0.009m | ▲ 142% |
| Change in stocks: decrease (increase)609 | - | - | -€0.003m | -€0.008m | -€0.005m | -€0.004m | -€0.009m | ▼ 142% |
| Services and other goods61 | - | - | €0.2m | €0.2m | €0.3m | €0.3m | €0.3m | ▲ 5.2% |
| Remuneration, social security and pensions62 | - | - | €0.3m | €0.4m | €0.5m | €0.6m | €0.8m | ▲ 31.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.08m | €0.1m | €0.09m | €0.09m | €0.09m | €0.08m | €0.07m | ▼ 2.3% |
| Other operating charges640/8 | - | - | €0.01m | €0.007m | €0.01m | €0.007m | €0.006m | ▼ 11.0% |
| Operating profit (loss)9901 | €0.7m | €0.4m | €0.3m | €0.5m | €0.3m | €0.2m | €0.4m | ▲ 121% |
| Financial income75/76B | - | - | €1.5m | €3.1m | €0.1m | €1.2m | €0.2m | ▼ 84.9% |
| Recurring financial income75 | €0.002m | €0.1m | €0.01m | €3.1m | €0.1m | €1.2m | €0.2m | ▼ 84.9% |
| Income from financial fixed assets750 | - | - | - | €3.0m | €0 | €1.0m | - | - |
| Income from current assets751 | - | - | €0.01m | €0.06m | €0.1m | €0.1m | €0.2m | ▲ 20.1% |
| Other financial income752/9 | - | - | €2 | €4 | €77 | €0 | €0 | ▼ 80.0% |
| Non-recurring financial income76B | - | - | €1.5m | - | - | - | - | - |
| Financial charges65/66B | - | - | €0.3m | €0.03m | €0.09m | €0.1m | €0.04m | ▼ 63.3% |
| Recurring financial charges65 | €0.05m | €0.07m | €0.3m | €0.03m | €0.09m | €0.1m | €0.04m | ▼ 63.3% |
| Debt charges650 | €0.05m | €0.06m | €0.02m | €0.03m | €0.09m | €0.1m | €0.03m | ▼ 66.7% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651 | - | - | €0.3m | -€225 | -€273 | €228 | - | - |
| Other financial charges652/9 | - | - | €0.001m | €0.003m | €0.002m | €0.003m | €0.004m | ▲ 69.3% |
| Profit (loss) for the period before taxes9903 | €0.6m | €0.4m | €1.5m | €3.5m | €0.3m | €1.3m | €0.5m | ▼ 57.1% |
| Transfer from deferred taxes780 | - | - | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Income taxes67/77 | €0.002m | -€247 | €0.005m | €0.1m | €0.09m | €0.06m | €0.2m | ▲ 152% |
| Taxes670/3 | - | - | €0.005m | €0.1m | €0.09m | €0.06m | €0.2m | ▲ 152% |
| Profit (loss) for the period9904 | €0.6m | €0.4m | €1.5m | €3.4m | €0.2m | €1.2m | €0.4m | ▼ 67.6% |
| Transfer from tax-exempt reserves789 | - | - | €0.003m | €0.003m | €0.003m | €0.003m | €0.003m | = |
| Transfer to tax-exempt reserves689 | - | - | - | €0.2m | - | - | €0.2m | - |
| Profit (loss) for the period to be appropriated9905 | €0.6m | €0.4m | €1.5m | €3.1m | €0.2m | €1.2m | €0.2m | ▼ 81.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €19.9m | €19.5m | €19.0m | €23.5m | €23.7m | €24.8m | €23.6m | ▼ 4.9% |
| Fixed assets21/28 | €16.0m | €16.0m | €14.1m | €13.9m | €14.8m | €14.6m | €14.6m | ▼ 0.2% |
| Intangible fixed assets21 | €0.008m | €0.005m | €0.003m | €0.001m | €0.03m | €0.04m | €0.04m | ▼ 8.4% |
| Tangible fixed assets22/27 | €1.4m | €1.3m | €1.3m | €1.1m | €1.0m | €0.8m | €0.8m | ▼ 2.4% |
| Land and buildings22 | - | - | €1.2m | €1.1m | €1.0m | €0.8m | €0.8m | ▼ 3.3% |
| Furniture and vehicles24 | - | - | €0.03m | €0.03m | €0.02m | €0.02m | €0.03m | ▲ 29.9% |
| Financial fixed assets28 | €14.6m | €14.6m | €12.8m | €12.8m | €13.7m | €13.7m | €13.7m | = |
| Affiliated companies280/1 | - | - | €12.8m | €12.8m | €13.7m | €13.7m | €13.7m | = |
| Participating interests280 | - | - | €12.8m | €12.8m | €13.7m | €13.7m | €13.7m | = |
| Current assets29/58 | €3.9m | €3.6m | €4.9m | €9.5m | €8.9m | €10.2m | €9.0m | ▼ 11.8% |
| Amounts receivable after more than one year29 | - | - | €1.6m | €6.3m | €5.6m | €6.8m | €5.6m | ▼ 17.5% |
| Other amounts receivable291 | - | - | €1.6m | €6.3m | €5.6m | €6.8m | €5.6m | ▼ 17.5% |
| Stocks and contracts in progress3 | €3.0m | €3.0m | €3.0m | €3.0m | €3.0m | €3.1m | €3.1m | ▲ 0.3% |
| Stocks30/36 | - | - | €3.0m | €3.0m | €3.0m | €3.1m | €3.1m | ▲ 0.3% |
| Property held for sale35 | - | - | €3.0m | €3.0m | €3.0m | €3.1m | €3.1m | ▲ 0.3% |
| Amounts receivable within one year40/41 | €0.2m | €0.07m | €0.09m | €0.09m | €0.3m | €0.2m | €0.2m | ▼ 3.5% |
| Trade receivables40 | - | - | €0.08m | €0.07m | €0.2m | €0.2m | €0.2m | ▼ 4.3% |
| Other amounts receivable41 | - | - | €0.008m | €0.02m | €0.02m | €0.01m | €0.01m | ▲ 10.3% |
| Current investments50/53 | €0.4m | €0.3m | €0.001m | €0.001m | €0.002m | €0.001m | €0.001m | = |
| Other investments51/53 | - | - | €0.001m | €0.001m | €0.002m | €0.001m | €0.001m | = |
| Cash at bank and in hand54/58 | €0.01m | €0.1m | €0.2m | €0.1m | €0.02m | €0.06m | €0.07m | ▲ 16.1% |
| Deferred charges and accrued income490/1 | - | - | €0.008m | €0.002m | €0.002m | €0.04m | €0.01m | ▼ 69.6% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €19.9m | €19.5m | €19.0m | €23.5m | €23.7m | €24.8m | €23.6m | ▼ 4.9% |
| Equity10/15 | €16.1m | €16.5m | €18.0m | €21.3m | €21.5m | €22.8m | €23.1m | ▲ 1.7% |
| Contributions10/11 | €10.8m | €10.8m | €10.8m | €10.8m | €10.8m | €10.8m | €10.8m | = |
| Capital10 | - | - | €10.8m | €10.8m | €10.8m | €10.8m | €10.8m | = |
| Issued capital100 | - | - | €10.8m | €10.8m | €10.8m | €10.8m | €10.8m | = |
| Reserves13 | €2.0m | €2.0m | €2.1m | €2.5m | €2.5m | €2.6m | €2.7m | ▲ 6.9% |
| Non-distributable reserves130/1 | - | - | €0.6m | €0.8m | €0.8m | €0.9m | €0.9m | ▲ 1.3% |
| Legal reserve130 | - | - | €0.6m | €0.8m | €0.8m | €0.9m | €0.9m | ▲ 1.3% |
| Tax-exempt reserves132 | - | - | €0.06m | €0.3m | €0.3m | €0.3m | €0.4m | ▲ 59.1% |
| Distributable reserves133 | - | - | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | = |
| Profit (loss) carried forward14 | €3.3m | €3.7m | €5.1m | €8.1m | €8.3m | €9.4m | €9.6m | ▲ 2.3% |
| Provisions and deferred taxes16 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | ▼ 5.3% |
| Deferred taxes168 | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | ▼ 5.3% |
| Amounts payable17/49 | €3.8m | €3.0m | €1.0m | €2.1m | €2.1m | €2.0m | €0.4m | ▼ 79.7% |
| Amounts payable after more than one year17 | €3.4m | €2.7m | €0.8m | €1.8m | €1.8m | €1.5m | - | - |
| Financial debts170/4 | - | - | €0.8m | €1.8m | €1.8m | €1.5m | - | - |
| Credit institutions173 | - | - | €0.2m | €1.8m | €1.8m | €1.5m | - | - |
| Other loans174 | - | - | €0.6m | - | - | - | - | - |
| Amounts payable within one year42/48 | €0.4m | €0.3m | €0.2m | €0.3m | €0.3m | €0.5m | €0.4m | ▼ 12.7% |
| Current portion of amounts payable after more than one year42 | - | - | €0.04m | €0.04m | €0.04m | €0.2m | €0.03m | ▼ 84.9% |
| Financial debts43 | - | - | - | - | €0.007m | €0.02m | €0.03m | ▲ 71.4% |
| Credit institutions430/8 | - | - | - | - | €0.007m | €0.02m | €0.03m | ▲ 71.4% |
| Trade debts44 | €0.03m | €0.03m | €0.03m | €0.02m | €0.06m | €0.03m | €0.04m | ▲ 45.9% |
| Suppliers440/4 | - | - | €0.03m | €0.02m | €0.06m | €0.03m | €0.04m | ▲ 45.9% |
| Taxes, remuneration and social security45 | - | - | €0.09m | €0.2m | €0.2m | €0.2m | €0.3m | ▲ 26.0% |
| Taxes450/3 | - | - | €0.05m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 20.2% |
| Remuneration and social security454/9 | - | - | €0.04m | €0.07m | €0.09m | €0.1m | €0.1m | ▲ 33.3% |
| Other amounts payable47/48 | - | - | €0.01m | €0.06m | €0.01m | €0.002m | €0.04m | ▲ 26× |
| Accrued charges and deferred income492/3 | - | - | €0.001m | €0.02m | €0.05m | €0.01m | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.6m | €0.4m | €1.5m | €3.4m | €0.2m | €1.2m | €0.4m | ▼ 67.6% |
| + Depreciation and write-downs630 | €0.08m | €0.1m | €0.09m | €0.09m | €0.09m | €0.08m | €0.07m | ▼ 2.3% |
| Operating cash flow (approximation) | €0.7m | €0.5m | €1.6m | €3.5m | €0.3m | €1.3m | €0.5m | ▼ 63.7% |
| Investment in fixed assets (approximation) | - | -€0.01m | €1.8m | €0.04m | -€0.9m | €0.07m | -€0.05m | - |
| Change in cash | - | €0.1m | €0.06m | -€0.1m | -€0.08m | €0.04m | €0.009m | ▼ 78.0% |
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 27 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 12-06-2026 | 2026-00156986 | |
| 31-12-2024 | full format | 04-08-2025 | 2025-00356096 | |
| 31-12-2023 | full format | 31-08-2024 | 2024-00442891 | |
| 31-12-2022 | full format | 30-08-2023 | 2023-00397583 | |
| 31-12-2021 | full format | 30-06-2022 | 2022-20125190 | |
| 31-12-2020 | full format | 30-06-2021 | 2021-29600071 | |
| 30-09-2019 | full format | 10-04-2020 | 2020-09200319 | |
| 30-09-2018 | full format | 15-03-2019 | 2019-07400139 | |
| 30-09-2017 | full format | 14-03-2018 | 2018-06800172 | |
| 30-09-2016 | full format | 17-03-2017 | 2017-06900401 |