Financials · financial year 2025, micro format
Annual accounts 2025 filed on 26-06-2026 at the NBB all 14 filings
Equity
€234,036▲ 10.5%
2024 · €211,890
Net result
€22,146▲ 21.3%
2024 · €18,251
Total assets
€266,552▲ 3.9%
2024 · €256,612
Solvency
87.8%▲ 5.2pp
2024 · 82.6%
In the rankings
#9 oldest company in Raeren, Finance and insurance sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€31,503
▲ 14.0%
2025
20182025
Net result
€22,146
▲ 21.3%
2025
middle half of the sector
20182025
Equity
€234,036
▲ 10.5%
2025
middle half of the sector
20182025
Total assets
€266,552
▲ 3.9%
2025
middle half of the sector
20182025
Debt
€32,516
▼ 27.3%
2025
20182025
Working capital
-€13,470
▲ 29.7%
2025
middle half of the sector
20182025
Solvency
87.8%
▲ 5.2pp
2025
highest quarter of the sector
20182025
Current ratio
0.52
▲ 0.33
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
8.3%
▲ 1.2pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€27,681-€35,506▲ 28.3%€26,195▼ 26.2%€26,724▲ 2.0%€35,771▲ 33.9%€17,358▼ 51.5%€27,641▲ 59.2%€31,503▲ 14.0%
Net result€12,542-€22,642▲ 80.5%€15,351▼ 32.2%€16,957▲ 10.5%€24,381▲ 43.8%€10,979▼ 55.0%€18,251▲ 66.2%€22,146within the sector's middle half▲ 21.3%
Equity€103,329-€125,970▲ 21.9%€141,321▲ 12.2%€158,278▲ 12.0%€182,660▲ 15.4%€193,638▲ 6.0%€211,890▲ 9.4%€234,036within the sector's middle half▲ 10.5%
Total assets€250,639-€256,440▲ 2.3%€258,812▲ 0.9%€254,653▼ 1.6%€262,727▲ 3.2%€259,096▼ 1.4%€256,612▼ 1.0%€266,552within the sector's middle half▲ 3.9%
Debt€147,310-€130,469▼ 11.4%€117,490▼ 9.9%€96,374▼ 18.0%€80,067▼ 16.9%€65,457▼ 18.2%€44,722▼ 31.7%€32,516▼ 27.3%
Working capital-€26,297--€20,155▲ 23.4%-€21,304▼ 5.7%-€20,888▲ 2.0%-€13,174▲ 36.9%-€20,972▼ 59.2%-€19,168▲ 8.6%-€13,470within the sector's middle half▲ 29.7%
Solvency41.2%-49.1%▲ 7.9pp54.6%▲ 5.5pp62.2%▲ 7.6pp69.5%▲ 7.4pp74.7%▲ 5.2pp82.6%▲ 7.8pp87.8%above the sector's middle half▲ 5.2pp
Current ratio0.01-0.23▲ 0.230.29▲ 0.060.18▼ 0.110.49▲ 0.310.25▼ 0.240.20▼ 0.050.52below the sector's middle half▲ 0.33
Return on assets (ROA)5.0%-8.8%▲ 3.8pp5.9%▼ 2.9pp6.7%▲ 0.7pp9.3%▲ 2.6pp4.2%▼ 5.0pp7.1%▲ 2.9pp8.3%within the sector's middle half▲ 1.2pp
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 14% higher than in 2024. It is the second rise in a row, after the fall in 2023.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €266,552
Fixed assets
€251,673 ▼ 0.1%
Current assets
€14,879 ▲ 215%
Equity and liabilities €266,552
Equity
€234,036 ▲ 10.5%
Debt
€32,516 ▼ 27.3%
Debt's share of the balance-sheet total falls from 17.4% to 12.2%. Equity is higher and debt is lower.
Key figures and ratios
ROE
9.5%▲
2024 · 8.6%
Debt ≤ 1 year
€28,350▲
2024 · €23,889
Debt > 1 year
€4,166▼
2024 · €20,833
Income taxes
€6,362▲
2024 · €5,406
Staff costs
€2,600=
2024 · €2,600
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Carrying value of the other pledged assets | €250,000 | €250,000 | - | - | - |
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 | - | - | €2,185 | - | - |
| Depreciation and write-downs of the year | €125 | - | €75 | €218 | €218 |
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 | - | - | - | - | - | €7,046 | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | - | - | - | €2,600 | €2,600 | = |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €167 | €167 | €167 | €125 | - | €75 | €218 | €218 | = |
| Other operating charges640/8 | - | - | - | - | - | €5,445 | €517 | €532 | ▲ 2.9% |
| Gross operating margin9900 | €27,848 | €35,819 | €26,362 | €26,849 | €35,771 | €22,878 | €30,977 | €34,854 | ▲ 12.5% |
| Operating profit (loss)9901 | €27,681 | €35,506 | €26,195 | €26,724 | €35,771 | €17,358 | €27,641 | €31,503 | ▲ 14.0% |
| Financial income75/76B | - | - | - | €1 | €4 | €0 | €0 | €31 | ▲ 769× |
| Recurring financial income75 | €0 | - | €0 | €1 | €4 | €0 | €0 | €31 | ▲ 769× |
| Financial charges65/66B | - | - | - | €3,452 | €3,379 | €2,409 | €3,984 | €3,026 | ▼ 24.1% |
| Recurring financial charges65 | €5,429 | €4,510 | €3,898 | €3,452 | €3,379 | €2,409 | €3,984 | €3,026 | ▼ 24.1% |
| Profit (loss) for the period before taxes9903 | €22,252 | €30,995 | €22,297 | €23,273 | €32,396 | €14,949 | €23,657 | €28,508 | ▲ 20.5% |
| Income taxes67/77 | €9,710 | €8,354 | €6,946 | €6,316 | €8,014 | €3,970 | €5,406 | €6,362 | ▲ 17.7% |
| Profit (loss) for the period9904 | €12,542 | €22,642 | €15,351 | €16,957 | €24,381 | €10,979 | €18,251 | €22,146 | ▲ 21.3% |
| Profit (loss) for the period to be appropriated9905 | €12,542 | €22,642 | €15,351 | €16,957 | €24,381 | €10,979 | €18,251 | €22,146 | ▲ 21.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €250,639 | €256,440 | €258,812 | €254,653 | €262,727 | €259,096 | €256,612 | €266,552 | ▲ 3.9% |
| Fixed assets21/28 | €250,459 | €250,292 | €250,125 | €250,000 | €250,000 | €252,110 | €251,891 | €251,673 | ▼ 0.1% |
| Tangible fixed assets22/27 | €459 | €292 | €125 | - | - | €2,110 | €1,891 | €1,673 | ▼ 11.6% |
| Land and buildings22 | - | - | - | - | - | €2,110 | €1,891 | €1,673 | ▼ 11.6% |
| Financial fixed assets28 | €250,000 | €250,000 | €250,000 | €250,000 | €250,000 | €250,000 | €250,000 | €250,000 | = |
| Current assets29/58 | €179 | €6,147 | €8,686 | €4,653 | €12,727 | €6,986 | €4,720 | €14,879 | ▲ 215% |
| Amounts receivable within one year40/41 | - | €318 | €6,498 | - | €2,370 | €1,259 | €1,305 | €4,655 | ▲ 257% |
| Trade receivables40 | - | - | - | - | - | - | €276 | - | - |
| Other amounts receivable41 | - | - | - | - | €2,370 | €1,259 | €1,030 | €4,655 | ▲ 352% |
| Cash at bank and in hand54/58 | - | €4,959 | €582 | €3,192 | €9,457 | €5,034 | €1,900 | €8,656 | ▲ 356% |
| Deferred charges and accrued income490/1 | - | - | - | €1,460 | €900 | €693 | €1,515 | €1,568 | ▲ 3.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €250,639 | €256,440 | €258,812 | €254,653 | €262,727 | €259,096 | €256,612 | €266,552 | ▲ 3.9% |
| Equity10/15 | €103,329 | €125,970 | €141,321 | €158,278 | €182,660 | €193,638 | €211,890 | €234,036 | ▲ 10.5% |
| Contributions10/11 | €9,000 | €9,000 | - | €9,000 | €9,000 | €9,000 | €9,000 | €9,000 | = |
| Reserves13 | €1,860 | €1,860 | €11,860 | €11,860 | €11,860 | €11,860 | €11,860 | €11,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | - | €10,000 | €10,000 | €11,860 | €11,860 | €11,860 | = |
| Profit (loss) carried forward14 | €92,469 | €115,110 | €120,461 | €137,418 | €161,800 | €172,778 | €191,030 | €213,176 | ▲ 11.6% |
| Amounts payable17/49 | €147,310 | €130,469 | €117,490 | €96,374 | €80,067 | €65,457 | €44,722 | €32,516 | ▼ 27.3% |
| Amounts payable after more than one year17 | €120,833 | €104,167 | €87,500 | €70,833 | €54,167 | €37,500 | €20,833 | €4,166 | ▼ 80.0% |
| Financial debts170/4 | - | - | - | €70,833 | €54,167 | €37,500 | €20,833 | €4,166 | ▼ 80.0% |
| Amounts payable within one year42/48 | €26,476 | €26,303 | €29,991 | €25,541 | €25,901 | €27,958 | €23,889 | €28,350 | ▲ 18.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €17,089 | €16,667 | €16,667 | €16,667 | €16,667 | = |
| Trade debts44 | €2,667 | €2,363 | €2,624 | €2,472 | €1,040 | €3,526 | €1,654 | €1,164 | ▼ 29.6% |
| Suppliers440/4 | - | - | - | €2,472 | €1,040 | €3,526 | €1,654 | €1,164 | ▼ 29.6% |
| Taxes, remuneration and social security45 | - | - | - | €5,621 | €7,886 | €6,799 | €4,009 | €6,457 | ▲ 61.1% |
| Taxes450/3 | - | - | - | €5,621 | €7,886 | €6,491 | €3,701 | €6,149 | ▲ 66.2% |
| Remuneration and social security454/9 | - | - | - | - | - | €308 | €308 | €308 | = |
| Other amounts payable47/48 | - | - | - | €359 | €308 | €966 | €1,559 | €4,062 | ▲ 160% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €12,542 | €22,642 | €15,351 | €16,957 | €24,381 | €10,979 | €18,251 | €22,146 | ▲ 21.3% |
| + Depreciation and write-downs630 | €167 | €167 | €167 | €125 | - | €75 | €218 | €218 | = |
| Operating cash flow (approximation) | €12,709 | €22,809 | €15,518 | €17,083 | €24,381 | €11,053 | €18,470 | €22,365 | ▲ 21.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | -€2,185 | €0 | €0 | - |
| Change in cash | - | - | -€4,377 | €2,610 | €6,264 | -€4,423 | -€3,134 | €6,756 | - |
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 14 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 26-06-2026 | 2026-00202878 | |
| 31-12-2024 | unclassified schema | 23-07-2025 | 2025-00295939 | |
| 31-12-2023 | unclassified schema | 05-07-2024 | 2024-00215205 | |
| 31-12-2022 | unclassified schema | 10-07-2023 | 2023-00230261 | |
| 31-12-2021 | unclassified schema | 26-07-2022 | 2022-20222719 | |
| 31-12-2020 | unclassified schema | 27-07-2021 | 2021-40600380 | |
| 31-12-2019 | abbreviated format | 23-06-2020 | 2020-19400558 | |
| 31-12-2018 | abbreviated format | 11-06-2019 | 2019-17500525 | |
| 31-12-2017 | abbreviated format | 26-06-2018 | 2018-24000315 | |
| 31-12-2016 | abbreviated format | 30-06-2017 | 2017-26000124 |