Financials · financial year 2025, micro format
Annual accounts 2025 filed on 09-06-2026 PDF all 7 filings
Equity
€308,171▼ 2.0%
2024 · €314,320
Net result
€49,228▲ 38.8%
2024 · €35,460
Total assets
€322,769▼ 2.2%
2024 · €329,896
Solvency
95.5%▲ 0.2pp
2024 · 95.3%
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€67,598
▲ 42.3%
2025
20192025
Net result
€49,228
▲ 38.8%
2025
middle half of the sector
20192025
Equity
€308,171
▼ 2.0%
2025
middle half of the sector
20192025
Total assets
€322,769
▼ 2.2%
2025
middle half of the sector
20192025
Debt
€14,598
▼ 6.3%
2025
20192025
Working capital
€191,136
▼ 22.3%
2025
highest quarter of the sector
20192025
Solvency
95.5%
▲ 0.2pp
2025
highest quarter of the sector
20192025
Current ratio
14.09
▼ 2.70
2025
highest quarter of the sector
20192025
Return on assets (ROA)
15.3%
▲ 4.5pp
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€86,010-€63,370▼ 26.3%€57,526▼ 9.2%€45,273▼ 21.3%€45,797▲ 1.2%€47,497▲ 3.7%€67,598▲ 42.3%
Net result€56,125-€38,699within the sector's middle half▼ 31.0%€38,757within the sector's middle half▲ 0.2%€30,443within the sector's middle half▼ 21.5%€31,845within the sector's middle half▲ 4.6%€35,460within the sector's middle half▲ 11.4%€49,228within the sector's middle half▲ 38.8%
Equity€160,146-€197,245within the sector's middle half▲ 23.2%€234,402within the sector's middle half▲ 18.8%€264,845within the sector's middle half▲ 13.0%€289,989within the sector's middle half▲ 9.5%€314,320within the sector's middle half▲ 8.4%€308,171within the sector's middle half▼ 2.0%
Total assets€229,432-€264,023within the sector's middle half▲ 15.1%€297,174within the sector's middle half▲ 12.6%€304,400within the sector's middle half▲ 2.4%€307,067within the sector's middle half▲ 0.9%€329,896within the sector's middle half▲ 7.4%€322,769within the sector's middle half▼ 2.2%
Debt€69,286-€66,778▼ 3.6%€62,772▼ 6.0%€39,555▼ 37.0%€17,078▼ 56.8%€15,575▼ 8.8%€14,598▼ 6.3%
Working capital€48,259-€96,864within the sector's middle half▲ 101%€145,520above the sector's middle half▲ 50.2%€185,653above the sector's middle half▲ 27.6%€212,366above the sector's middle half▲ 14.4%€245,987above the sector's middle half▲ 15.8%€191,136above the sector's middle half▼ 22.3%
Solvency69.8%-74.7%within the sector's middle half▲ 4.9pp78.9%above the sector's middle half▲ 4.2pp87.0%above the sector's middle half▲ 8.1pp94.4%above the sector's middle half▲ 7.4pp95.3%above the sector's middle half▲ 0.8pp95.5%above the sector's middle half▲ 0.2pp
Current ratio1.70-2.45within the sector's middle half▲ 0.753.34within the sector's middle half▲ 0.895.69above the sector's middle half▲ 2.3513.44above the sector's middle half▲ 7.7416.79above the sector's middle half▲ 3.3614.09above the sector's middle half▼ 2.70
Return on assets (ROA)24.5%-14.7%within the sector's middle half▼ 9.8pp13.0%within the sector's middle half▼ 1.6pp10.0%within the sector's middle half▼ 3.0pp10.4%within the sector's middle half▲ 0.4pp10.7%within the sector's middle half▲ 0.4pp15.3%within the sector's middle half▲ 4.5pp
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 42% higher than in 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
Turnover and EBIT margin are not published. The abbreviated or 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 €322,769
Fixed assets
€117,035 ▲ 71.3%
Current assets
€205,734 ▼ 21.3%
Equity and liabilities €322,769
Equity
€308,171 ▼ 2.0%
Debt
€14,598 ▼ 6.3%
Debt's share of the balance-sheet total falls from 4.7% to 4.5%. Equity and debt are lower.
Key figures and ratios
ROE
16.0%▲
2024 · 11.3%
Debt ≤ 1 year
€14,598▼
2024 · €15,575
Income taxes
€23,188▲
2024 · €16,842
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 | - | - | €11,543 | - | €59,238 |
| Depreciation and write-downs of the year | €10,859 | €10,330 | €13,112 | €9,289 | €6,446 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,767 | €11,507 | €10,859 | €10,330 | €13,112 | €9,289 | €6,446 | ▼ 30.6% |
| Other operating charges640/8 | - | - | €5,841 | €7,087 | €5,568 | €5,466 | €7,777 | ▲ 42.3% |
| Gross operating margin9900 | €105,555 | €81,474 | €74,226 | €62,690 | €64,477 | €62,252 | €81,821 | ▲ 31.4% |
| Operating profit (loss)9901 | €86,010 | €63,370 | €57,526 | €45,273 | €45,797 | €47,497 | €67,598 | ▲ 42.3% |
| Financial income75/76B | - | - | - | - | €1,351 | €4,989 | €5,041 | ▲ 1.0% |
| Recurring financial income75 | - | - | - | - | €1,351 | €4,989 | €5,041 | ▲ 1.0% |
| Financial charges65/66B | - | - | €526 | €300 | €125 | €184 | €224 | ▲ 21.3% |
| Recurring financial charges65 | €17 | €701 | €526 | €300 | €125 | €184 | €224 | ▲ 21.3% |
| Profit (loss) for the period before taxes9903 | €85,993 | €62,669 | €57,000 | €44,972 | €47,023 | €52,302 | €72,416 | ▲ 38.5% |
| Income taxes67/77 | €29,868 | €23,970 | €18,242 | €14,529 | €15,179 | €16,842 | €23,188 | ▲ 37.7% |
| Profit (loss) for the period9904 | €56,125 | €38,699 | €38,757 | €30,443 | €31,845 | €35,460 | €49,228 | ▲ 38.8% |
| Transfer from tax-exempt reserves789 | - | - | €0 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €56,125 | €55,979 | €38,757 | €30,443 | €31,845 | €35,460 | €49,228 | ▲ 38.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €229,432 | €264,023 | €297,174 | €304,400 | €307,067 | €329,896 | €322,769 | ▼ 2.2% |
| Fixed assets21/28 | €111,887 | €100,380 | €89,522 | €79,192 | €77,623 | €68,333 | €117,035 | ▲ 71.3% |
| Tangible fixed assets22/27 | €111,887 | €100,380 | €89,522 | €79,192 | €77,623 | €68,333 | €117,035 | ▲ 71.3% |
| Land and buildings22 | - | - | €80,426 | €71,915 | €63,996 | €60,143 | €58,213 | ▼ 3.2% |
| Plant, machinery and equipment23 | - | - | €9,096 | €7,277 | €5,688 | €4,100 | €2,512 | ▼ 38.7% |
| Furniture and vehicles24 | - | - | - | - | €7,938 | €4,090 | €56,311 | ▲ 14× |
| Current assets29/58 | €117,545 | €163,642 | €207,652 | €225,208 | €229,444 | €261,562 | €205,734 | ▼ 21.3% |
| Amounts receivable within one year40/41 | €4,962 | €11,522 | €9,208 | €17,531 | €9,081 | €40,271 | €185,682 | ▲ 361% |
| Trade receivables40 | - | - | €8,313 | €5,507 | €8,670 | €5,356 | €7,702 | ▲ 43.8% |
| Other amounts receivable41 | - | - | €895 | €12,024 | €411 | €34,915 | €177,980 | ▲ 410% |
| Current investments50/53 | - | - | - | - | €100,000 | €100,000 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €112,583 | €152,121 | €198,444 | €205,672 | €115,942 | €117,054 | €17,036 | ▼ 85.4% |
| Deferred charges and accrued income490/1 | - | - | - | €2,006 | €4,421 | €4,238 | €3,016 | ▼ 28.8% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €229,432 | €264,023 | €297,174 | €304,400 | €307,067 | €329,896 | €322,769 | ▼ 2.2% |
| Equity10/15 | €160,146 | €197,245 | €234,402 | €264,845 | €289,989 | €314,320 | €308,171 | ▼ 2.0% |
| Contributions10/11 | - | - | €68,885 | €68,885 | €68,885 | €68,885 | €68,885 | = |
| Reserves13 | €91,261 | €128,360 | €165,517 | €195,961 | €221,104 | €245,435 | €239,286 | ▼ 2.5% |
| Distributable reserves133 | - | - | €165,517 | €195,961 | €221,104 | €245,435 | €239,286 | ▼ 2.5% |
| Profit (loss) carried forward14 | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €69,286 | €66,778 | €62,772 | €39,555 | €17,078 | €15,575 | €14,598 | ▼ 6.3% |
| Amounts payable within one year42/48 | €69,286 | €66,778 | €62,132 | €39,555 | €17,078 | €15,575 | €14,598 | ▼ 6.3% |
| Trade debts44 | €9,764 | €7,501 | €14,914 | €15,935 | €8,182 | €2,347 | €811 | ▼ 65.5% |
| Suppliers440/4 | - | - | €14,914 | €15,935 | €8,182 | €2,347 | €811 | ▼ 65.5% |
| Taxes, remuneration and social security45 | - | - | €45,619 | €23,259 | €6,898 | €11,510 | €12,121 | ▲ 5.3% |
| Taxes450/3 | - | - | €45,619 | €23,259 | €6,898 | €11,510 | €12,121 | ▲ 5.3% |
| Other amounts payable47/48 | - | - | €1,600 | €360 | €1,998 | €1,718 | €1,666 | ▼ 3.0% |
| Accrued charges and deferred income492/3 | - | - | €639 | €0 | - | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €56,125 | €38,699 | €38,757 | €30,443 | €31,845 | €35,460 | €49,228 | ▲ 38.8% |
| + Depreciation and write-downs630 | €13,767 | €11,507 | €10,859 | €10,330 | €13,112 | €9,289 | €6,446 | ▼ 30.6% |
| Operating cash flow (approximation) | €69,892 | €50,205 | €49,616 | €40,773 | €44,957 | €44,749 | €55,673 | ▲ 24.4% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€11,543 | €0 | -€55,147 | - |
| Change in cash | - | €39,538 | €46,323 | €7,228 | -€89,730 | €1,112 | -€100,018 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 09-06-2026 | 2026-00147066 | |
| 31-12-2024 | micro format | 16-05-2025 | 2025-00099176 | |
| 31-12-2023 | micro format | 15-04-2024 | 2024-00063608 | |
| 31-12-2022 | micro format | 12-06-2023 | 2023-00119260 | |
| 31-12-2021 | micro format | 15-06-2022 | 2022-20064747 | |
| 31-12-2020 | micro format | 04-06-2021 | 2021-17300330 | |
| 31-12-2019 | abbreviated format | 26-06-2020 | 2020-21200563 |