Summary
A+ has a registered holding activity and consists mainly of financial fixed assets; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €9.7m and a net result of -€475,234. Equity is growing by ~27.5% per year across the filed fiscal years. Its solvency ranks better than 93% of 1431 sector peers (fiscal year 2025). The company has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Holding: general score not applicable
The company has a registered holding activity and financial fixed assets account for more than half of its assets. The general operating-company model is unsuitable for this profile, so we show no financial axes either. Filed figures remain available.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
28 d late
2024
4 d late
2023
131 d late
2022
27 d early
2021
40 d early
2020
38 d early
2019
37 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 3 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 33% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#1 company by equity in Lokeren, Telecoms and IT sector#3 company by total assets in Lokeren, Telecoms and IT sector
Turnover
€522,127▼ 61.7%
2024 · €1.4m
EBIT margin
-94.8%▼ 125.4pp
2024 · 30.6%
Net result
-€475,234▲ 61.1%
2024 · -€1.2m
Working capital
€578,969▼ 50.6%
2024 · €1.2m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€952,688€1.4m€522,127▼ 61.7%
Operating result€96,898▲ 0.5%€175,649▲ 81.3%€230,946▲ 31.5%€417,081▲ 80.6%-€494,855
Net result€4.1m▲ 1,993%-€997,571€10.1m-€1.2m-€475,234▲ 61.1%
EBIT margin18.4%30.6%-94.8%▼ 125.4pp
Equity€6.8m▲ 151%€1.3m▼ 81.1%€11.4m▲ 793%€10.2m▼ 10.7%€9.7m▼ 4.7%
Total assets€9.9m▲ 84.5%€3.9m▼ 60.6%€14.7m▲ 276%€11.1m▼ 24.1%€11.1m▼ 0.6%
Debt€3.1m▲ 17.1%€2.6m▼ 15.9%€3.3m▲ 24.1%€934,105▼ 71.3%€1.3m▲ 43.4%
Working capital€3.8m▲ 1,312%€427,009▼ 88.8%€2.2m▲ 404%€1.2m▼ 45.5%€578,969▼ 50.6%
Staff (FTE)2.6▲ 18.2%2.42.8▲ 16.7%1.8▼ 35.7%
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €494,855 after €417,081 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €11.1m
Fixed assets
€9.4m ▼ 0.2%
Current assets
€1.6m ▼ 3.1%
Equity and liabilities €11.1m
Equity
€9.7m ▼ 4.7%
Debt
€1.3m ▲ 43.4%
Debt's share of the balance-sheet total rises from 8.4% to 12.1%. Equity is lower and debt is higher.
Key figures and ratios
ROE
-4.9%▲
2024 · -12.0%
ROA
-4.3%▲
2024 · -11.0%
Debt ≤ 1 year
€1.0m▲
2024 · €507,598
Debt > 1 year
€266,668▼
2024 · €400,001
Income taxes
€341▼
2024 · €121,645
Staff costs
€175,400▼
2024 · €258,803
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €956,920 | - | €1.4m | €523,609 | ▼ 61.7% |
| Turnover70 | - | €952,688 | - | €1.4m | €522,127 | ▼ 61.7% |
| Other operating income74 | - | €4,232 | - | €6,853 | €1,482 | ▼ 78.4% |
| Operating charges60/66A | - | €781,272 | - | €951,435 | €1.0m | ▲ 7.0% |
| Services and other goods61 | - | €493,048 | - | €674,263 | €826,340 | ▲ 22.6% |
| Remuneration, social security and pensions62 | €192,769 | €254,140 | €255,358 | €258,803 | €175,400 | ▼ 32.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €30,202 | €11,785 | €17,820 | €16,722 | €11,375 | ▼ 32.0% |
| Other operating charges640/8 | €1,560 | €22,299 | €2,198 | €1,647 | €1,414 | ▼ 14.2% |
| Non-recurring operating charges66A | - | - | - | - | €3,934 | - |
| Gross operating margin9900 | €321,428 | - | €506,321 | - | - | - |
| Operating profit (loss)9901 | €96,898 | €175,649 | €230,946 | €417,081 | -€494,855 | ▼ 219% |
| Financial income75/76B | €4.1m | €5,406 | €10.9m | €217,489 | €60,267 | ▼ 72.3% |
| Recurring financial income75 | €4.1m | €5,406 | €1.8m | €217,489 | €60,267 | ▼ 72.3% |
| Income from financial fixed assets750 | - | €5,406 | - | €0 | - | - |
| Income from current assets751 | - | €0 | - | €217,489 | €60,267 | ▼ 72.3% |
| Other financial income752/9 | - | - | - | €0 | - | - |
| Non-recurring financial income76B | - | - | €9.2m | - | - | - |
| Financial charges65/66B | €70,877 | €1.1m | €964,216 | €1.7m | €40,305 | ▼ 97.7% |
| Recurring financial charges65 | €70,877 | €45,073 | €69,216 | €1.4m | €40,305 | ▼ 97.1% |
| Debt charges650 | - | €45,073 | - | €173,270 | €39,595 | ▼ 77.1% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals)651 | - | - | - | €1.2m | €0 | ▼ 100% |
| Other financial charges652/9 | - | - | - | €543 | €710 | ▲ 30.7% |
| Non-recurring financial charges66B | - | €1.1m | €895,000 | €355,000 | €0 | ▼ 100% |
| Profit (loss) for the period before taxes9903 | €4.1m | -€964,018 | €10.2m | -€1.1m | -€474,892 | ▲ 56.8% |
| Income taxes67/77 | €35,371 | €33,553 | €63,877 | €121,645 | €341 | ▼ 99.7% |
| Taxes670/3 | - | €35,989 | - | €121,645 | €341 | ▼ 99.7% |
| Tax adjustments and reversals of tax provisions77 | - | €2,436 | - | - | - | - |
| Profit (loss) for the period9904 | €4.1m | -€997,571 | €10.1m | -€1.2m | -€475,234 | ▲ 61.1% |
| Profit (loss) for the period to be appropriated9905 | €4.1m | -€997,571 | €10.1m | -€1.2m | -€475,234 | ▲ 61.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €9.9m | €3.9m | €14.7m | €11.1m | €11.1m | ▼ 0.6% |
| Fixed assets21/28 | €3.7m | €1.5m | €9.8m | €9.5m | €9.4m | ▼ 0.2% |
| Tangible fixed assets22/27 | €111,899 | €35,438 | €51,640 | €34,918 | €17,108 | ▼ 51.0% |
| Furniture and vehicles24 | €111,899 | €35,438 | €51,640 | €34,918 | €17,108 | ▼ 51.0% |
| Financial fixed assets28 | €3.6m | €1.5m | €9.8m | €9.4m | €9.4m | = |
| Affiliated companies280/1 | - | €1.5m | - | €9.4m | €9.4m | = |
| Participating interests280 | - | €1.5m | - | €9.4m | €9.4m | = |
| Other financial fixed assets284/8 | - | €0 | - | - | - | - |
| Amounts receivable and cash guarantees285/8 | - | €0 | - | - | - | - |
| Current assets29/58 | €6.2m | €2.4m | €4.8m | €1.7m | €1.6m | ▼ 3.1% |
| Amounts receivable after more than one year29 | €1.9m | €2.1m | €2.2m | €1.5m | €1.3m | ▼ 11.8% |
| Other amounts receivable291 | €1.9m | €2.1m | €2.2m | €1.5m | €1.3m | ▼ 11.8% |
| Stocks and contracts in progress3 | - | €0 | - | €0 | €0 | - |
| Amounts receivable within one year40/41 | €4.2m | €19,844 | €2.6m | €71,451 | €214,809 | ▲ 201% |
| Trade receivables40 | €35,268 | €19,825 | €93,255 | €70,851 | €158,884 | ▲ 124% |
| Other amounts receivable41 | €4.2m | €19 | €2.5m | €600 | €55,925 | ▲ 9,225% |
| Cash at bank and in hand54/58 | €109,812 | €233,136 | €78,096 | €92,520 | €79,625 | ▼ 13.9% |
| Deferred charges and accrued income490/1 | €4,843 | €5,478 | €0 | €4,391 | €25 | ▼ 99.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €9.9m | €3.9m | €14.7m | €11.1m | €11.1m | ▼ 0.6% |
| Equity10/15 | €6.8m | €1.3m | €11.4m | €10.2m | €9.7m | ▼ 4.7% |
| Contributions10/11 | €53,303 | €53,303 | €53,303 | €53,303 | €53,303 | = |
| Revaluation surpluses12 | - | - | - | €9.2m | €9.2m | = |
| Reserves13 | €6.7m | €1.2m | €11.4m | €976,049 | €500,815 | ▼ 48.7% |
| Non-distributable reserves130/1 | €5,331 | €0 | - | - | - | - |
| Reserves not available under the articles1311 | €5,331 | €0 | - | - | - | - |
| Distributable reserves133 | €6.7m | €1.2m | €11.4m | €976,049 | €500,815 | ▼ 48.7% |
| Profit (loss) carried forward14 | - | - | €0 | - | - | - |
| Amounts payable17/49 | €3.1m | €2.6m | €3.3m | €934,105 | €1.3m | ▲ 43.4% |
| Amounts payable after more than one year17 | €725,208 | €666,667 | €533,334 | €400,001 | €266,668 | ▼ 33.3% |
| Financial debts170/4 | €725,208 | €666,667 | €533,334 | €400,001 | €266,668 | ▼ 33.3% |
| Credit institutions173 | - | €666,667 | - | €400,001 | €266,668 | ▼ 33.3% |
| Other loans174 | - | €0 | - | - | - | - |
| Amounts payable within one year42/48 | €2.4m | €1.9m | €2.7m | €507,598 | €1.0m | ▲ 106% |
| Current portion of amounts payable after more than one year42 | €516,722 | €133,333 | €133,333 | €133,333 | €133,333 | = |
| Financial debts43 | €0 | €7,523 | €0 | - | - | - |
| Other loans439 | €0 | €7,523 | €0 | - | - | - |
| Trade debts44 | €19,117 | €6,588 | €40,149 | €63,760 | €823,170 | ▲ 1,191% |
| Suppliers440/4 | €19,117 | €6,588 | €40,149 | €63,760 | €823,170 | ▲ 1,191% |
| Taxes, remuneration and social security45 | €39,447 | €52,392 | €114,071 | €177,169 | €90,673 | ▼ 48.8% |
| Taxes450/3 | €9,988 | €9,580 | €67,998 | €132,575 | €66,645 | ▼ 49.7% |
| Remuneration and social security454/9 | €29,459 | €42,811 | €46,073 | €44,594 | €24,028 | ▼ 46.1% |
| Other amounts payable47/48 | €1.8m | €1.7m | €2.4m | €133,336 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | €17,693 | €23,904 | €26,506 | €25,281 | ▼ 4.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €4.1m | -€997,571 | €10.1m | -€1.2m | -€475,234 | ▲ 61.1% |
| + Depreciation and write-downs630 | €30,202 | €11,785 | €17,820 | €16,722 | €11,375 | ▼ 32.0% |
| Operating cash flow (approximation) | €4.1m | -€985,787 | €10.2m | -€1.2m | -€463,858 | ▲ 61.5% |
| Investment in fixed assets (approximation) | - | €2.1m | -€8.3m | €355,000 | €6,434 | ▼ 98.2% |
| Change in cash | - | €123,324 | -€155,040 | €14,424 | -€12,895 | ▼ 189% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
11-09
State Gazette act
General meeting · MergerShareholding · Declaration · Power of attorney17 facts ▸
State Gazette act
General meeting · Merger
Shareholding · Declaration · Power of attorney17 facts ▸
- General meeting, buitengewone algemene vergadering
- Merger, fusie, Overnemende vennootschap houdster is van alle aandelen van de Overgenomen vennootschappen
- Shareholding
- Shareholding
- Declaration, geen niet-stemgerechtigde effecten waaraan bijzondere rechten werden toegekend
- Declaration, geen niet-stemgerechtigde effecten waaraan bijzondere rechten werden toegekend
- Declaration, geen bijzonder voordeel toegekend aan de bestuursorganen van de Overnemende vennootschap
- Declaration, geen bijzonder voordeel toegekend aan de bestuursorganen van de Overgenomen vennootschap
- Declaration, geen bijzonder voordeel toegekend aan de bestuursorganen van de Overgenomen vennootschap
- Merger, 31-07-2026, opschortende voorwaarde van de besluiten van de vergadering van de Overgenomen vennootschap in vervulling is gegaan
- Power of attorney
- Power of attorney, MOORE FINANCE & TAX
- +5 further facts in this act
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 28 days late
23-06
State Gazette act
RestructuringMerger · Accounting effect · Share structure6 facts ▸
State Gazette act
Restructuring
Merger · Accounting effect · Share structure6 facts ▸
- Merger, dubbele met fusie door overneming gelijkgestelde fusie (geruisloze fusie)
- Merger, dubbele met fusie door overneming gelijkgestelde fusie (geruisloze fusie)
- Accounting effect, 01-01-2026
- Share structure, 100 aandelen zonder nominale waarde, integraal aangehouden door A+
- Share structure, 10.000 aandelen zonder nominale waarde, integraal aangehouden door A+
- Share structure, 1.200 aandelen zonder nominale waarde, integraal aangehouden door CLIMATE PIONEERS BV
2025
04-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 4 days late
2024
31-12
Financial
Weakest financial yearnet -€1.2m
Net result drops to -€1.2m, the lowest in the series; recovery starts the following year.
09-12
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 131 days late
2023
31-12
Financial
Back to profitnet €10.1m
Net result €10.1m after one loss-making year.
31-12
Financial
Equity above €10mEq €11.4m ▲793%
Equity rises from €1.3m to €11.4m.
04-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
21-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Liquidity doublescurrent ratio 2.59
Current ratio from 1.19 to 2.59.
31-12
Financial
Equity above €5mEq €6.8m ▲151%
4 profitable years in a row build equity to €6.8m.
Show earlier events
23-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
24-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Equity above €2mEq €2.5m ▲67.1%
2 profitable years in a row build equity to €2.5m.
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
18-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
21-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
2 of 12 acts read
About the unread acts
Of the 12 Belgian State Gazette acts we know for this company, 2 have been read. The other 10 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
12 acts for this company are in the Belgian State Gazette, of which we have read 2. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Lokeren · 1 establishment unit since 2013
Ground area
2.5 ha
Building footprint
1.2 ha
Volume, LiDAR
52,011 m³
2 parcels, Flanders · tallest building 10.0 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
A +
since 20132.221.949.306
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46382B1166/00G000 | Flanders | 1.3 ha | 1 · 6,495 m² | 0.1 m |
| 46382B1176/00F000 | Flanders | 1.1 ha | 1 · 5,839 m² | 10.0 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Articles of association
Accounting effect
01-01-2026
Structure & network
Connections & network
No current directors or connected companies found in the register.
Acquisitions and mergers
2 transactionsTook over:ARCO PIPING
Took over:COOL HOLDING
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Of 16,901 companies in sector 62100 we hold annual accounts for 8,775. 843 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded08-08-2013
Fiscal year end31-12
Activities, NACEBEL 2025
62100Computer programming
70200Business and other management consultancy
62900Other information technology and computer services
62200Computer consultancy and computer facilities management
64210Activities of holding companies
Scores and ratios are computed by Checked and are not a credit decision.