Financials · financial year 2026, micro format
Annual accounts 2026 filed on 28-10-2026 at the NBB all 17 filings
Amounts without an identifiable currency are taken as euros.
Equity
€1.3m▲ 8.0%
2025 · €1.2m
Net result
€219,291▲ 5.7%
2025 · €207,451
Total assets
€1.8m▼ 8.7%
2025 · €2.0m
Solvency
69.4%▲ 10.7pp
2025 · 58.7%
Multi-year overview
2019 to 2026, 8 financial yearsOperating result
€334,604
▲ 3.3%
2026
20192026
Net result
€219,291
▲ 5.7%
2026
20192026
Equity
€1.3m
▲ 8.0%
2026
20192026
Total assets
€1.8m
▼ 8.7%
2026
20192026
Debt
€563,726
▼ 32.3%
2026
20192026
Working capital
€184,265
▲ 83.4%
2026
20192026
Solvency
69.4%
▲ 10.7pp
2026
20192026
Current ratio
1.75
▲ 0.51
2026
20192026
Return on assets (ROA)
11.9%
▲ 1.6pp
2026
20192026
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202420252026
Operating result€0.2m-€0.2m▼ 17.4%€0.2m▲ 10.2%€0.3m▲ 43.6%€0.3m▼ 0.1%€0.3m▲ 10.8%€0.3m▲ 4.1%€0.3m▲ 3.3%
Net result€0.2m-€0.1m▼ 17.1%€0.1mwithin the sector's middle half▲ 0.9%€0.2mabove the sector's middle half▲ 38.2%€0.2mabove the sector's middle half▲ 4.2%€0.2mabove the sector's middle half▲ 11.7%€0.2mabove the sector's middle half▲ 0.3%€0.2m▲ 5.7%
Equity€0.4m-€0.5m▲ 31.2%€0.7mwithin the sector's middle half▲ 24.0%€0.8mabove the sector's middle half▲ 26.7%€1.0mabove the sector's middle half▲ 22.0%€1.1mabove the sector's middle half▲ 7.5%€1.2mabove the sector's middle half▲ 7.4%€1.3m▲ 8.0%
Total assets€2.3m-€2.1m▼ 9.1%€2.0mwithin the sector's middle half▼ 3.9%€1.9mabove the sector's middle half▼ 7.6%€1.9mabove the sector's middle half▲ 0.7%€1.9mabove the sector's middle half▲ 2.7%€2.0mabove the sector's middle half▲ 3.7%€1.8m▼ 8.7%
Debt€1.9m-€1.6m▼ 17.7%€1.4m▼ 13.3%€1.0m▼ 24.2%€0.9m▼ 16.5%€0.8m▼ 3.0%€0.8m▼ 1.1%€0.6m▼ 32.3%
Working capital-€0.5m--€0.4m▲ 10.0%-€0.4mbelow the sector's middle half▲ 16.5%-€0.2mbelow the sector's middle half▲ 46.4%-€0.04mbelow the sector's middle half▲ 81.8%€0.03mwithin the sector's middle half€0.1mwithin the sector's middle half▲ 210%€0.2m▲ 83.4%
Solvency17.5%-25.3%▲ 7.8pp32.6%within the sector's middle half▲ 7.3pp44.7%within the sector's middle half▲ 12.1pp54.2%within the sector's middle half▲ 9.5pp56.7%within the sector's middle half▲ 2.5pp58.7%within the sector's middle half▲ 2.0pp69.4%▲ 10.7pp
Current ratio0.44-0.18▼ 0.260.20below the sector's middle half▲ 0.020.26below the sector's middle half▲ 0.060.84within the sector's middle half▲ 0.581.10within the sector's middle half▲ 0.261.24within the sector's middle half▲ 0.141.75▲ 0.51
Return on assets (ROA)6.6%-6.0%▼ 0.6pp6.3%within the sector's middle half▲ 0.3pp9.4%within the sector's middle half▲ 3.1pp9.8%within the sector's middle half▲ 0.3pp10.6%within the sector's middle half▲ 0.9pp10.3%within the sector's middle half▼ 0.3pp11.9%▲ 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.
The operating result for 2026 is 3% higher than in 2025 and the highest since 2022. It is the third rise in a row, after the fall in 2023.
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
2026 in colour, 2025 as the grey bar beneath
Assets €1.8m
Fixed assets
€1.4m ▼ 6.1%
Current assets
€430,630 ▼ 16.2%
Equity and liabilities €1.8m
Equity
€1.3m ▲ 8.0%
Debt
€563,726 ▼ 32.3%
Debt's share of the balance-sheet total falls from 41.3% to 30.6%. Equity is higher and debt is lower.
Key figures and ratios
ROE
17.1%▼
2025 · 17.5%
Debt ≤ 1 year
€246,365▼
2025 · €413,576
Debt > 1 year
€301,667▼
2025 · €377,180
Income taxes
€98,716▲
2025 · €92,600
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Mortgages, amount registered | €895,593 | €755,625 | €615,657 | - | - |
| Carrying value of the mortgaged assets | €1.8m | €1.7m | €1.6m | - | - |
Source: notes to the 2022 to 2026 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 | 31-03-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | - | €3,809 | - |
| Depreciation and write-downs of the year | €120,737 | €113,747 | €104,615 | €92,794 | €91,551 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €102,822 | €138,912 | €113,886 | €120,737 | €113,747 | €104,615 | €92,794 | €91,551 | ▼ 1.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €1,900 | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €13,027 | €13,279 | €14,761 | €17,041 | €15,608 | ▼ 8.4% |
| Gross operating margin9900 | €327,151 | €325,730 | €320,159 | €416,965 | €407,964 | €430,624 | €433,703 | €441,763 | ▲ 1.9% |
| Operating profit (loss)9901 | €215,251 | €177,691 | €195,897 | €281,301 | €280,937 | €311,249 | €323,868 | €334,604 | ▲ 3.3% |
| Financial income75/76B | - | - | - | - | €1 | - | - | - | - |
| Recurring financial income75 | - | - | €120 | - | €1 | - | - | - | - |
| Financial charges65/66B | - | - | - | €11,823 | €16,470 | €19,863 | €23,816 | €16,598 | ▼ 30.3% |
| Recurring financial charges65 | €22,194 | €15,614 | €13,534 | €11,823 | €16,470 | €19,863 | €23,816 | €16,598 | ▼ 30.3% |
| Profit (loss) for the period before taxes9903 | €193,057 | €162,077 | €182,483 | €269,478 | €264,468 | €291,385 | €300,051 | €318,006 | ▲ 6.0% |
| Income taxes67/77 | €39,464 | €34,700 | €53,920 | €91,818 | €79,300 | €84,583 | €92,600 | €98,716 | ▲ 6.6% |
| Profit (loss) for the period9904 | €153,593 | €127,377 | €128,563 | €177,660 | €185,168 | €206,802 | €207,451 | €219,291 | ▲ 5.7% |
| Transfer from tax-exempt reserves789 | - | - | - | €56,250 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €153,593 | €127,377 | €128,563 | €233,910 | €185,168 | €206,802 | €207,451 | €219,291 | ▲ 5.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.3m | €2.1m | €2.0m | €1.9m | €1.9m | €1.9m | €2.0m | €1.8m | ▼ 8.7% |
| Fixed assets21/28 | €1.9m | €2.0m | €1.9m | €1.8m | €1.7m | €1.6m | €1.5m | €1.4m | ▼ 6.1% |
| Tangible fixed assets22/27 | €1.9m | €2.0m | €1.9m | €1.8m | €1.7m | €1.6m | €1.5m | €1.4m | ▼ 6.1% |
| Land and buildings22 | - | - | - | €1.8m | €1.7m | €1.6m | €1.5m | €1.4m | ▼ 6.1% |
| Financial fixed assets28 | €0.01m | €0.01m | €0.01m | - | - | - | - | - | - |
| Current assets29/58 | €0.4m | €0.1m | €0.09m | €0.07m | €0.2m | €0.4m | €0.5m | €0.4m | ▼ 16.2% |
| Amounts receivable within one year40/41 | €0.2m | €0.04m | €0.02m | €0.001m | €0.2m | €0.3m | €0.4m | €0.2m | ▼ 58.9% |
| Trade receivables40 | - | - | - | €0.001m | €0.2m | €0.3m | €0.4m | €0.2m | ▼ 58.9% |
| Other amounts receivable41 | - | - | - | €98 | - | €48 | €14 | - | - |
| Cash at bank and in hand54/58 | €0.2m | €0.05m | €0.07m | €0.07m | €0.03m | €0.03m | €0.07m | €0.1m | ▲ 41.9% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | - | €0.2m | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.3m | €2.1m | €2.0m | €1.9m | €1.9m | €1.9m | €2.0m | €1.8m | ▼ 8.7% |
| Equity10/15 | €0.4m | €0.5m | €0.7m | €0.8m | €1.0m | €1.1m | €1.2m | €1.3m | ▲ 8.0% |
| Contributions10/11 | €0.01m | €0.01m | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Reserves13 | €0.4m | €0.5m | €0.6m | €0.8m | €1.0m | €1.1m | €1.2m | €1.3m | ▲ 7.8% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | - | - | - | - |
| Distributable reserves133 | - | - | - | €0.8m | €1.0m | €1.1m | €1.2m | €1.3m | ▲ 7.8% |
| Profit (loss) carried forward14 | €0.003m | €0.005m | €0.008m | €0.03m | €0.005m | €0.002m | €0.004m | €0.007m | ▲ 89.9% |
| Amounts payable17/49 | €1.9m | €1.6m | €1.4m | €1.0m | €0.9m | €0.8m | €0.8m | €0.6m | ▼ 32.3% |
| Amounts payable after more than one year17 | €0.9m | €0.9m | €0.8m | €0.7m | €0.6m | €0.5m | €0.4m | €0.3m | ▼ 20.0% |
| Financial debts170/4 | - | - | - | €0.7m | €0.6m | €0.5m | €0.4m | €0.3m | ▼ 20.0% |
| Amounts payable within one year42/48 | €0.9m | €0.5m | €0.5m | €0.3m | €0.2m | €0.3m | €0.4m | €0.2m | ▼ 40.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.2m | €0.2m | €0.2m | €0.1m | €0.08m | ▼ 31.7% |
| Trade debts44 | €0.4m | €0.2m | €0.06m | €0.004m | €0.004m | €0.004m | €0.005m | €0.002m | ▼ 48.9% |
| Suppliers440/4 | - | - | - | €0.004m | €0.004m | €0.004m | €0.005m | €0.002m | ▼ 48.9% |
| Taxes, remuneration and social security45 | - | - | - | €0.04m | €0.03m | €0.03m | €0.06m | €0.03m | ▼ 50.3% |
| Taxes450/3 | - | - | - | €0.04m | €0.03m | €0.03m | €0.06m | €0.03m | ▼ 50.3% |
| Other amounts payable47/48 | - | - | - | - | - | €0.1m | €0.2m | €0.1m | ▼ 42.1% |
| Accrued charges and deferred income492/3 | - | - | - | €0.1m | €0.08m | €0.06m | €0.04m | €0.02m | ▼ 62.8% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €153,593 | €127,377 | €128,563 | €177,660 | €185,168 | €206,802 | €207,451 | €219,291 | ▲ 5.7% |
| + Depreciation and write-downs630 | €102,822 | €138,912 | €113,886 | €120,737 | €113,747 | €104,615 | €92,794 | €91,551 | ▼ 1.3% |
| Operating cash flow (approximation) | €256,415 | €266,289 | €242,448 | €298,397 | €298,915 | €311,417 | €300,245 | €310,841 | ▲ 3.5% |
| Investment in fixed assets (approximation) | - | -€215,229 | -€34,045 | €10,000 | €0 | €0 | -€3,809 | €0 | - |
| Change in cash | - | -€149,208 | €22,407 | -€4,040 | -€44,058 | -€408 | €42,982 | €28,744 | ▼ 33.1% |
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 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | micro format | 28-10-2026 | 2026-00594647 | |
| 31-03-2025 | micro format | 24-10-2025 | 2025-00552532 | |
| 31-03-2024 | micro format | 30-10-2024 | 2024-00520959 | |
| 31-03-2023 | micro format | 30-10-2023 | 2023-00505527 | |
| 31-03-2022 | micro format | 31-10-2022 | 2022-20486042 | |
| 31-03-2021 | abbreviated format | 29-10-2021 | 2021-74900583 | |
| 31-03-2020 | abbreviated format | 14-10-2020 | 2020-61800243 | |
| 31-03-2019 | micro format | 13-11-2019 | 2019-73900309 | |
| 31-03-2018 | micro format | 18-10-2018 | 2018-69600250 | |
| 31-03-2017 | micro format | 03-10-2017 | 2017-66200469 |