Banqup delivers on its growth ambition for FY 2025

Core Insights - Banqup Group, formerly Unifiedpost Group, reported its FY 2025 results, highlighting a strategic transformation into a pure-play SaaS provider and focusing on integrated financial workflow management solutions [1][4][5]. Strategic & Operational Highlights - The company executed its 2025 objectives, capturing the Belgium mandate and gaining insights for continued growth [4]. - Banqup completed several divestments, including the sale of 21 Grams and its UK print business, to streamline operations and focus on high-growth SaaS opportunities [5][6]. - The rebranding to Banqup and the change of ticker symbol to BANQ were completed in June 2025, enhancing market positioning and clarity for stakeholders [6][8]. Financial Highlights - Group revenue from continuing operations was €52.935 million, a decrease of 3.9% from FY 2024 [10]. - Digital services revenue increased by 6.7% year-on-year to €45.185 million, with organic subscription revenue growing by 24.4% [10][11]. - Adjusted EBITDA showed improvement, with a loss of €11.324 million, a 13.6% reduction compared to the previous year [10]. Market Performance - Belgium's SME run-rate ARR growth reached 51.2% year-on-year, driven by the upcoming mandatory B2B e-invoicing deadline [13]. - France is a key focus, with Banqup's solution included in the French government's e-invoicing pilot phase ahead of the September 2026 mandate [14]. - Germany showed early signs of demand, with the Banqup platform experiencing approximately 50% year-on-year growth in FY 2025 [15]. Cost Optimization - Operational expenses decreased by 2.0% year-on-year, reflecting effective cost management strategies [17]. - The average number of FTEs decreased by 5.5% from FY 2024, indicating ongoing organizational optimization [18]. Liquidity Position - As of December 2025, Banqup reported cash and cash equivalents of €8.636 million, a 40.5% decrease from the previous year [19]. - The company secured a subordinated shareholder loan of up to €6.0 million to support growth ambitions and platform rollout in France [22]. FY 2026 Outlook - For FY 2026, Banqup anticipates ARR digital services revenue growth between 25% and 30%, with an adjusted EBITDA margin of approximately 3% [21]. - The company aims to consolidate its position in Belgium, prepare for the French market, and capture cross-border e-invoicing opportunities [22].