Revenue by Segment

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017	FY 2016
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020	Dec '19 Dec 31, 2019	Dec '18 Dec 31, 2018	Dec '17 Dec 31, 2017	Dec '16 Dec 31, 2016
Belgium - Students		28.32M	30.02M	25.38M	17.14M	13.95M
Belgium - Students Growth		-5.67%	18.30%	48.08%	22.87%	33.67%
Belgium - Other		2.81M	2.95M	4.96M	3.29M	1.40M
Belgium - Other Growth		-4.58%	-40.65%	50.97%	134.69%	-17.78%
The Netherlands - Students		55.12M	50.58M	47.02M	38.61M	30.40M
The Netherlands - Students Growth		8.99%	7.56%	21.78%	27.03%	19.17%
The Netherlands - Other		8.89M	4.82M	4.26M	5.73M	5.19M
The Netherlands - Other Growth		84.33%	13.11%	-25.56%	10.41%	-11.53%
Iberia - Students		28.51M	22.77M	22.96M	14.84M	6.96M
Iberia - Students Growth		25.20%	-0.84%	54.78%	113.02%	-
Nordics - Students		27.42M	16.46M	3.27M	-	-
Nordics - Students Growth		66.58%	403.00%	-	-	-
Nordics - Other		3.36M	3.83M	1.25M	-	-
Nordics - Other Growth		-12.24%	206.39%	-	-	-
Germany + Poland - Students		11.93M	13.21M	3.37M	-	-
Germany + Poland - Students Growth		-9.74%	292.22%	-	-	-
Germany + Poland - Other		1.28M	928.00K	-	-	-
Germany + Poland - Other Growth		38.25%	-	-	-	-
Non-Allocated Amounts		-	-	-	-	-676.00K
Total		167.64M	145.57M	112.48M	79.60M	57.22M
Total Growth		15.16%	29.42%	41.31%	39.11%	31.44%

Source: S&P Global Market Intelligence.