Financials · financial year 2025, micro format
Annual accounts 2025 filed on 09-06-2026 PDF all 33 filings
Equity
€115,959▼ 7.0%
2024 · €124,689
Net result
-€8,730▲ 15.1%
2024 · -€10,281
Total assets
€117,158▼ 9.6%
2024 · €129,557
Solvency
99.0%▲ 2.7pp
2024 · 96.2%
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€7,894
▲ 17.1%
2025
20182025
Net result
-€8,730
▲ 15.1%
2025
lowest quarter of the sector
20182025
Equity
€115,959
▼ 7.0%
2025
middle half of the sector
20182025
Total assets
€117,158
▼ 9.6%
2025
lowest quarter of the sector
20182025
Debt
€1,199
▼ 75.4%
2025
20182025
Working capital
€1,561
▼ 70.5%
2025
middle half of the sector
20182025
Solvency
99.0%
▲ 2.7pp
2025
highest quarter of the sector
20182025
Current ratio
2.30
▲ 0.20
2025
middle half of the sector
20182025
Return on assets (ROA)
-7.5%
▲ 0.5pp
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€3,420-€5,202▲ 52.1%€4,396▼ 15.5%€529▼ 88.0%-€8,765€9,232-€9,528-€7,894▲ 17.1%
Net result€991-€2,310▲ 133%€2,541within the sector's middle half▲ 10.0%-€1,694below the sector's middle half-€9,759below the sector's middle half▼ 476%€4,631within the sector's middle half-€10,281below the sector's middle half-€8,730below the sector's middle half▲ 15.1%
Equity€81,472-€83,782▲ 2.8%€153,323within the sector's middle half▲ 83.0%€151,628within the sector's middle half▼ 1.1%€141,869within the sector's middle half▼ 6.4%€134,970within the sector's middle half▼ 4.9%€124,689within the sector's middle half▼ 7.6%€115,959within the sector's middle half▼ 7.0%
Total assets€95,361-€91,611▼ 3.9%€160,272within the sector's middle half▲ 74.9%€153,042within the sector's middle half▼ 4.5%€143,434within the sector's middle half▼ 6.3%€146,250within the sector's middle half▲ 2.0%€129,557within the sector's middle half▼ 11.4%€117,158below the sector's middle half▼ 9.6%
Debt€13,889-€7,830▼ 43.6%€6,950▼ 11.2%€1,414▼ 79.7%€1,565▲ 10.6%€11,280▲ 621%€4,868▼ 56.8%€1,199▼ 75.4%
Working capital-€12,259--€4,225▲ 65.5%€5,389within the sector's middle half€10,052within the sector's middle half▲ 86.5%€6,774within the sector's middle half▼ 32.6%€8,499within the sector's middle half▲ 25.5%€5,293within the sector's middle half▼ 37.7%€1,561within the sector's middle half▼ 70.5%
Solvency85.4%-91.5%▲ 6.0pp95.7%above the sector's middle half▲ 4.2pp99.1%above the sector's middle half▲ 3.4pp98.9%above the sector's middle half▼ 0.2pp92.3%above the sector's middle half▼ 6.6pp96.2%above the sector's middle half▲ 4.0pp99.0%above the sector's middle half▲ 2.7pp
Current ratio0.12-0.46▲ 0.341.84within the sector's middle half▲ 1.388.11above the sector's middle half▲ 6.275.33above the sector's middle half▼ 2.781.81within the sector's middle half▼ 3.512.11within the sector's middle half▲ 0.292.30within the sector's middle half▲ 0.20
Return on assets (ROA)1.0%-2.5%▲ 1.5pp1.6%within the sector's middle half▼ 0.9pp-1.1%below the sector's middle half▼ 2.7pp-6.8%below the sector's middle half▼ 5.7pp3.2%within the sector's middle half▲ 10.0pp-7.9%below the sector's middle half▼ 11.1pp-7.5%below the sector's middle half▲ 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 2025 is a loss of €7,894, smaller than the loss of €9,528 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 €117,158
Fixed assets
€114,399 ▼ 4.2%
Current assets
€2,759 ▼ 72.6%
Equity and liabilities €117,158
Equity
€115,959 ▼ 7.0%
Debt
€1,199 ▼ 75.4%
Debt's share of the balance-sheet total falls from 3.8% to 1.0%. Equity and debt are lower.
Key figures and ratios
ROE
-7.5%▲
2024 · -8.2%
Debt ≤ 1 year
€1,199▼
2024 · €4,788
Income taxes
€282▲
2024 · €256
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 | €748 | €1,478 | €113 | €485 | €4,210 |
| Depreciation and write-downs of the year | €7,612 | €7,430 | €7,887 | €7,782 | €9,287 |
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 | €5,724 | €5,724 | €6,567 | €7,612 | €7,430 | €7,887 | €7,782 | €9,287 | ▲ 19.3% |
| Other operating charges640/8 | - | - | - | €1,113 | €1,657 | €1,516 | €1,919 | €1,347 | ▼ 29.8% |
| Gross operating margin9900 | €9,936 | €11,734 | €11,872 | €9,254 | €322 | €18,635 | €173 | €2,739 | ▲ 16× |
| Operating profit (loss)9901 | €3,420 | €5,202 | €4,396 | €529 | -€8,765 | €9,232 | -€9,528 | -€7,894 | ▲ 17.1% |
| Financial income75/76B | - | - | - | €1 | €0 | - | - | - | - |
| Recurring financial income75 | - | €0 | €0 | €1 | €0 | - | - | - | - |
| Financial charges65/66B | - | - | - | €528 | €778 | €636 | €497 | €554 | ▲ 11.4% |
| Recurring financial charges65 | €892 | €487 | €276 | €528 | €778 | €636 | €497 | €554 | ▲ 11.4% |
| Profit (loss) for the period before taxes9903 | €2,528 | €4,716 | €4,120 | €2 | -€9,543 | €8,596 | -€10,025 | -€8,448 | ▲ 15.7% |
| Income taxes67/77 | €1,537 | €2,406 | €1,580 | €1,696 | €216 | €3,965 | €256 | €282 | ▲ 10.1% |
| Profit (loss) for the period9904 | €991 | €2,310 | €2,541 | -€1,694 | -€9,759 | €4,631 | -€10,281 | -€8,730 | ▲ 15.1% |
| Profit (loss) for the period to be appropriated9905 | €991 | €2,310 | €2,541 | -€1,694 | -€9,759 | €4,631 | -€10,281 | -€8,730 | ▲ 15.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €95,361 | €91,611 | €160,272 | €153,042 | €143,434 | €146,250 | €129,557 | €117,158 | ▼ 9.6% |
| Fixed assets21/28 | €93,730 | €88,006 | €148,439 | €141,576 | €135,096 | €127,322 | €119,476 | €114,399 | ▼ 4.2% |
| Tangible fixed assets22/27 | €93,730 | €88,006 | €148,439 | €141,576 | €135,096 | €127,322 | €119,476 | €114,399 | ▼ 4.2% |
| Land and buildings22 | - | - | - | €141,048 | €133,656 | €126,265 | €118,873 | €111,481 | ▼ 6.2% |
| Plant, machinery and equipment23 | - | - | - | €528 | €1,440 | €1,057 | €603 | €259 | ▼ 57.0% |
| Furniture and vehicles24 | - | - | - | - | - | - | - | €2,659 | - |
| Current assets29/58 | €1,630 | €3,605 | €11,833 | €11,466 | €8,338 | €18,929 | €10,081 | €2,759 | ▼ 72.6% |
| Amounts receivable within one year40/41 | €1,495 | €1,428 | €2,461 | €3,623 | €1,836 | €636 | €5,284 | €52 | ▼ 99.0% |
| Other amounts receivable41 | - | - | - | €3,623 | €1,836 | €636 | €5,284 | €52 | ▼ 99.0% |
| Cash at bank and in hand54/58 | €135 | €2,177 | €9,372 | €7,844 | €6,502 | €14,482 | €4,180 | €1,908 | ▼ 54.4% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €3,811 | €617 | €799 | ▲ 29.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €95,361 | €91,611 | €160,272 | €153,042 | €143,434 | €146,250 | €129,557 | €117,158 | ▼ 9.6% |
| Equity10/15 | €81,472 | €83,782 | €153,323 | €151,628 | €141,869 | €134,970 | €124,689 | €115,959 | ▼ 7.0% |
| Contributions10/11 | €22,970 | €22,970 | - | €22,970 | €22,970 | €22,970 | €22,970 | €22,970 | = |
| Revaluation surpluses12 | - | - | - | €91,214 | €87,834 | €84,453 | €81,073 | €77,693 | ▼ 4.2% |
| Reserves13 | €33,112 | €34,462 | €37,017 | €40,398 | €43,778 | €27,547 | €30,927 | €34,307 | ▲ 10.9% |
| Non-distributable reserves130/1 | - | - | - | €2,297 | €2,297 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €2,297 | €2,297 | - | - | - | - |
| Distributable reserves133 | - | - | - | €38,101 | €41,481 | €27,547 | €30,927 | €34,307 | ▲ 10.9% |
| Profit (loss) carried forward14 | -€6,110 | -€3,800 | -€1,259 | -€2,954 | -€12,713 | - | -€10,281 | -€19,011 | ▼ 84.9% |
| Amounts payable17/49 | €13,889 | €7,830 | €6,950 | €1,414 | €1,565 | €11,280 | €4,868 | €1,199 | ▼ 75.4% |
| Amounts payable within one year42/48 | €13,889 | €7,830 | €6,444 | €1,414 | €1,565 | €10,429 | €4,788 | €1,199 | ▼ 75.0% |
| Trade debts44 | - | - | €154 | €196 | - | €292 | €200 | €190 | ▼ 4.8% |
| Suppliers440/4 | - | - | - | €196 | - | €292 | €200 | €190 | ▼ 4.8% |
| Taxes, remuneration and social security45 | - | - | - | €1,218 | €1,565 | €10,137 | €4,588 | €763 | ▼ 83.4% |
| Taxes450/3 | - | - | - | €1,218 | €1,565 | €10,137 | €4,588 | €763 | ▼ 83.4% |
| Other amounts payable47/48 | - | - | - | - | - | - | - | €245 | - |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €851 | €80 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €991 | €2,310 | €2,541 | -€1,694 | -€9,759 | €4,631 | -€10,281 | -€8,730 | ▲ 15.1% |
| + Depreciation and write-downs630 | €5,724 | €5,724 | €6,567 | €7,612 | €7,430 | €7,887 | €7,782 | €9,287 | ▲ 19.3% |
| Operating cash flow (approximation) | €6,715 | €8,034 | €9,108 | €5,917 | -€2,329 | €12,518 | -€2,499 | €557 | - |
| Investment in fixed assets (approximation) | - | €0 | -€67,000 | -€748 | -€950 | -€113 | €64 | -€4,210 | - |
| Change in cash | - | €2,042 | €7,194 | -€1,528 | -€1,342 | €7,981 | -€10,302 | -€2,272 | ▲ 77.9% |
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 33 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 09-06-2026 | 2026-00148899 | |
| 31-12-2024 | micro format | 27-06-2025 | 2025-00194333 | |
| 31-12-2023 | micro format | 28-06-2024 | 2024-00191300 | |
| 31-12-2022 | micro format | 05-06-2023 | 2023-00107870 | |
| 31-12-2021 | micro format | 23-06-2022 | 2022-20087526 | |
| 31-12-2020 | micro format | 30-06-2021 | 2021-28600195 | |
| 31-12-2019 | micro format | 31-07-2020 | 2020-37300437 | |
| 31-12-2018 | micro format | 25-06-2019 | 2019-22500505 | |
| 31-12-2017 | micro format | 27-06-2018 | 2018-24900414 | |
| 31-12-2016 | micro format | 28-06-2017 | 2017-22600178 |