Core Insights - Banqup Group SA, formerly Unifiedpost Group SA, reported a solid business update for the first nine months of 2025, highlighting operational preparedness and a positive outlook for the remainder of the year [1][3]. Financial Performance - Group revenue and income from client money decreased by 6.5% year-on-year to €47.552 million in 9M 2025 from €50.858 million in 9M 2024 [4]. - Digital services revenue increased by 5.0% year-on-year to €34.925 million, driven by subscription and transaction revenue growth [4][7]. - Subscription revenue grew by 13.6% to €11.432 million, with organic growth at 21.2% due to increased e-invoicing subscriptions in Belgium [4][8]. - Transaction revenue rose from €14.582 million to €14.911 million, attributed to higher contributions from client money, which amounted to €1.0 million for 9M 2025 compared to €0.3 million for 9M 2024 [4][8]. - Traditional communication services revenue declined by 28.3% to €12.627 million, reflecting a shift towards digital solutions [4][9]. Strategic Developments - The company is focusing on e-invoicing and payments in anticipation of upcoming mandates, with a notable increase in onboarding activities in Belgium ahead of the January 2026 e-invoicing mandate [3][7]. - Partnerships with Deloitte Belgium and Rentio have been established, with additional partnerships in the pipeline to enhance value in e-invoicing and e-payments [3][7][13]. - A government e-invoicing infrastructure contract was secured in the Middle East post-Q3 2025, further expanding the company's market presence [7][13]. Operational Updates - The divestment of the UK print business was completed on August 11, 2025, allowing the company to concentrate on its core digital services [7]. - The company continues to enhance governance practices, promoting transparency and independent leadership at the Board level [13]. Future Outlook - The company anticipates a 25% organic subscription revenue growth and aims to achieve positive free cash flow by year-end [13].