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Private limited companyfounded 2010active for 16 yearsLouise Derachestraat 15, 9041 Gent, BelgiumKBO/BCE: BE 0827.910.539

Financials · financial year 2025, abbreviated format

Annual accounts 2025 filed on 28-04-2026 PDF all 15 filings

Equity
€466,421▲ 9.1%
2024 · €427,704
Net result
€38,717▲ 49.0%
2024 · €25,989
Total assets
€774,542▲ 0.6%
2024 · €770,230
Solvency
60.2%▲ 4.7pp
2024 · 55.5%
Trend over the years

2021 to 2025, 5 financial years 2019 to 2025, 7 financial years

The operating result for 2025 is 62% higher than in 2024 and the highest since 2021. It is the fourth rise in a row.

Operating result€58,656 2025 Net result€38,717 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).

Every figure with its change against the financial year before
favourable unfavourable
Line2019202020212022202320242025
Operating result€8,452-€15,319▲ 81.2%€16,556▲ 8.1%€30,911▲ 86.7%€32,718▲ 5.8%€36,146▲ 10.5%€58,656▲ 62.3%
Net result€5,837-€2,365below the sector's middle half▼ 59.5%€10,075within the sector's middle half▲ 326%€23,335within the sector's middle half▲ 132%€25,206within the sector's middle half▲ 8.0%€25,989within the sector's middle half▲ 3.1%€38,717within the sector's middle half▲ 49.0%
Equity€101,651-€370,836within the sector's middle half▲ 265%€353,174within the sector's middle half▼ 4.8%€376,509within the sector's middle half▲ 6.6%€401,715within the sector's middle half▲ 6.7%€427,704within the sector's middle half▲ 6.5%€466,421within the sector's middle half▲ 9.1%
Total assets€113,512-€873,325within the sector's middle half▲ 669%€831,515within the sector's middle half▼ 4.8%€793,691within the sector's middle half▼ 4.5%€781,182within the sector's middle half▼ 1.6%€770,230within the sector's middle half▼ 1.4%€774,542within the sector's middle half▲ 0.6%
Debt€11,861-€502,489▲ 42×€478,341▼ 4.8%€417,182▼ 12.8%€379,468▼ 9.0%€342,527▼ 9.7%€308,121▼ 10.0%
Working capital€102,916-€39,303within the sector's middle half▼ 61.8%-€34,737within the sector's middle half-€66,916within the sector's middle half▼ 92.6%-€62,748within the sector's middle half▲ 6.2%-€73,161within the sector's middle half▼ 16.6%-€29,124within the sector's middle half▲ 60.2%
Solvency89.6%-42.5%within the sector's middle half▼ 47.1pp42.5%within the sector's middle half=47.4%within the sector's middle half▲ 5.0pp51.4%within the sector's middle half▲ 4.0pp55.5%within the sector's middle half▲ 4.1pp60.2%within the sector's middle half▲ 4.7pp
Current ratio12.26-1.50within the sector's middle half▼ 10.760.68within the sector's middle half▼ 0.820.35below the sector's middle half▼ 0.320.28below the sector's middle half▼ 0.080.17below the sector's middle half▼ 0.110.41within the sector's middle half▲ 0.25
Return on assets (ROA)5.1%-0.3%below the sector's middle half▼ 4.9pp1.2%within the sector's middle half▲ 0.9pp2.9%within the sector's middle half▲ 1.7pp3.2%within the sector's middle half▲ 0.3pp3.4%within the sector's middle half▲ 0.1pp5.0%within the sector's middle half▲ 1.6pp
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.
Turnover and EBIT margin are not published. The abbreviated 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 €774,542
Fixed assets €754,051 ▼ 0.2%
Current assets €20,492 ▲ 39.6%
Equity and liabilities €774,542
Equity €466,421 ▲ 9.1%
Debt €308,121 ▼ 10.0%
Debt's share of the balance-sheet total falls from 44.5% to 39.8%. Equity is higher and debt is lower.
Key figures and ratios
2025 value · change against 2024
ROE
8.3%▲
2024 · 6.1%
Debt ≤ 1 year
€49,616▼
2024 · €87,843
Debt > 1 year
€257,980▲
2024 · €254,168
Income taxes
€15,542▲
2024 · €5,350
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Securities and guarantees

on own assets and for others
Item30-09-202130-09-202230-09-202330-09-202430-09-2025
Debts secured on the company's own assets---€41,164-
Debts guaranteed by Belgian public bodies€173,266€129,673€85,640--

Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)

Investments

fixed assets acquired
Item30-09-202130-09-202230-09-202330-09-202430-09-2025
Tangible fixed assets€4,383-€1,565--
Depreciation and write-downs of the year€1,248€1,316€1,528€1,659€1,497

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 47 lines
Balance sheet Code20242025
Assets
Total assets20/58€770,230€774,542▲
Fixed assets21/28€755,548€754,051▼
Tangible fixed assets22/27€2,943€1,446▼
Plant, machinery and equipment23€920€314▼
Furniture and vehicles24€1,452€659▼
Other tangible fixed assets26€571€472▼
Financial fixed assets28€752,605€752,605=
Current assets29/58€14,682€20,492▲
Amounts receivable within one year40/41€12,100€14,520▲
Trade receivables40€12,100€14,520▲
Cash at bank and in hand54/58€2,356€5,737▲
Deferred charges and accrued income490/1€226€235▲
Equity and liabilities
Total equity and liabilities10/49€770,230€774,542▲
Equity10/15€427,704€466,421▲
Contributions10/11€145,560€145,560=
Revaluation surpluses12€125,122€125,122=
Reserves13€147,042€185,759▲
Distributable reserves133€147,042€185,759▲
Profit (loss) carried forward14€9,979€9,979=
Amounts payable17/49€342,527€308,121▼
Amounts payable after more than one year17€254,168€257,980▲
Financial debts170/4€20,000€20,000=
Other amounts payable178/9€234,168€237,980▲
Amounts payable within one year42/48€87,843€49,616▼
Current portion of amounts payable after more than one year42€41,164-
Trade debts44€15€514▲
Suppliers440/4€15€514▲
Taxes, remuneration and social security45€11,621€15,376▲
Taxes450/3€11,621€15,376▲
Other amounts payable47/48€35,043€33,726▼
Accrued charges and deferred income492/3€516€525▲
Income statement Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1,659€1,497▼
Other operating charges640/8€895€775▼
Gross operating margin9900€38,700€60,928▲
Operating profit (loss)9901€36,146€58,656▲
Financial income75/76B€1€33▲
Recurring financial income75€1€33▲
Financial charges65/66B€4,808€4,429▼
Recurring financial charges65€4,808€4,429▼
Profit (loss) for the period before taxes9903€31,339€54,260▲
Income taxes67/77€5,350€15,542▲
Profit (loss) for the period9904€25,989€38,717▲
Profit (loss) for the period to be appropriated9905€25,989€38,717▲
Appropriation of the result
Profit (loss) to be appropriated9906€35,968€48,697▲
Profit (loss) brought forward from the previous period14P€9,979€9,979=
Transfer to equity691/2€25,989€38,717▲
To other reserves6921€25,989€38,717▲

The notes to these accounts have 9 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Source: Annual accounts 2025 (PDF), filed on 28-04-2026.

Line2019202020212022202320242025Change
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€935€1,048€1,248€1,316€1,528€1,659€1,497▼ 9.7%
Other operating charges640/8-€1,026€785€972€1,278€895€775▼ 13.5%
Gross operating margin9900€10,027€17,393€18,589€33,200€35,524€38,700€60,928▲ 57.4%
Operating profit (loss)9901€8,452€15,319€16,556€30,911€32,718€36,146€58,656▲ 62.3%
Financial income75/76B-€50€0--€1€33▲ 40×
Recurring financial income75-€50€0--€1€33▲ 40×
Financial charges65/66B-€11,420€5,494€5,131€4,872€4,808€4,429▼ 7.9%
Recurring financial charges65€191€11,420€5,494€5,131€4,872€4,808€4,429▼ 7.9%
Profit (loss) for the period before taxes9903€8,262€3,949€11,062€25,780€27,846€31,339€54,260▲ 73.1%
Income taxes67/77€2,424€1,584€987€2,445€2,641€5,350€15,542▲ 191%
Profit (loss) for the period9904€5,837€2,365€10,075€23,335€25,206€25,989€38,717▲ 49.0%
Profit (loss) for the period to be appropriated9905€5,837€2,365€10,075€23,335€25,206€25,989€38,717▲ 49.0%
Line2019202020212022202320242025Change
Assets
Total assets20/58€113,512€873,325€831,515€793,691€781,182€770,230€774,542▲ 0.6%
Fixed assets21/28€1,460€755,351€758,486€757,170€757,207€755,548€754,051▼ 0.2%
Tangible fixed assets22/27€1,460€2,746€5,881€4,565€4,602€2,943€1,446▼ 50.9%
Plant, machinery and equipment23-€322€352€268€1,526€920€314▼ 65.8%
Furniture and vehicles24-€526€4,176€3,205€2,244€1,452€659▼ 54.6%
Other tangible fixed assets26-€1,898€1,353€1,092€832€571€472▼ 17.3%
Financial fixed assets28-€752,605€752,605€752,605€752,605€752,605€752,605=
Current assets29/58€112,053€117,974€73,029€36,521€23,976€14,682€20,492▲ 39.6%
Amounts receivable within one year40/41€20,743€21,584€28,063€24,335€13,539€12,100€14,520▲ 20.0%
Trade receivables40-€18,150€24,179€21,780€12,180€12,100€14,520▲ 20.0%
Other amounts receivable41-€3,434€3,883€2,555€1,359---
Cash at bank and in hand54/58€90,381€96,090€44,664€11,923€10,266€2,356€5,737▲ 143%
Deferred charges and accrued income490/1-€300€302€263€171€226€235▲ 3.8%
Equity and liabilities
Total equity and liabilities10/49€113,512€873,325€831,515€793,691€781,182€770,230€774,542▲ 0.6%
Equity10/15€101,651€370,836€353,174€376,509€401,715€427,704€466,421▲ 9.1%
Contributions10/11€6,200€145,560€145,560€145,560€145,560€145,560€145,560=
Revaluation surpluses12-€125,123€125,122€125,122€125,122€125,122€125,122=
Reserves13€89,669€90,174€72,512€95,847€121,053€147,042€185,759▲ 26.3%
Distributable reserves133-€90,174€72,512€95,847€121,053€147,042€185,759▲ 26.3%
Profit (loss) carried forward14€5,782€9,979€9,979€9,979€9,979€9,979€9,979=
Amounts payable17/49€11,861€502,489€478,341€417,182€379,468€342,527€308,121▼ 10.0%
Amounts payable after more than one year17-€423,593€370,351€312,869€291,799€254,168€257,980▲ 1.5%
Financial debts170/4-€203,049€146,473€85,640€61,164€20,000€20,000=
Other amounts payable178/9-€220,544€223,878€227,229€230,635€234,168€237,980▲ 1.6%
Amounts payable within one year42/48€9,136€78,671€107,765€103,437€86,723€87,843€49,616▼ 43.5%
Current portion of amounts payable after more than one year42-€46,773€43,593€44,032€44,476€41,164--
Financial debts43-€16,600€16,600€16,800----
Other loans439-€16,600€16,600€16,800----
Trade debts44€2,407€2,596€1,127€839-€15€514▲ 34×
Suppliers440/4-€2,596€1,127€839-€15€514▲ 34×
Taxes, remuneration and social security45-€4,574€5,554€5,573€5,783€11,621€15,376▲ 32.3%
Taxes450/3-€4,574€5,554€5,573€5,583€11,621€15,376▲ 32.3%
Remuneration and social security454/9----€200---
Other amounts payable47/48-€8,128€40,891€36,193€36,463€35,043€33,726▼ 3.8%
Accrued charges and deferred income492/3-€225€225€876€945€516€525▲ 1.8%
Line2019202020212022202320242025Change
Profit (loss) for the period9904€5,837€2,365€10,075€23,335€25,206€25,989€38,717▲ 49.0%
+ Depreciation and write-downs630€935€1,048€1,248€1,316€1,528€1,659€1,497▼ 9.7%
Operating cash flow (approximation)€6,772€3,413€11,323€24,652€26,734€27,648€40,215▲ 45.5%
Investment in fixed assets (approximation)--€754,939-€4,384€0-€1,565€0€0-
Change in cash-€5,709-€51,426-€32,741-€1,657-€7,910€3,381-

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Latest 10 of 15 filings with the National Bank
Financial year Type Filed Reference Document
30-09-2025 abbreviated format 28-04-2026 2026-00091870 PDF
30-09-2024 abbreviated format 30-04-2025 2025-00087986 PDF
30-09-2023 abbreviated format 27-04-2024 2024-00080922 PDF
30-09-2022 abbreviated format 30-04-2023 2023-00077097 PDF
30-09-2021 abbreviated format 28-04-2022 2022-20010885 PDF
30-09-2020 abbreviated format 30-04-2021 2021-12400431 PDF
30-09-2019 abbreviated format 22-04-2020 2020-10200167 PDF
30-09-2018 abbreviated format 29-04-2019 2019-11700458 PDF
30-09-2017 abbreviated format 05-04-2018 2018-09200444 PDF
30-09-2016 abbreviated format 31-03-2017 2017-08500575 PDF

Show all 15 filings

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