A44
ActiveSummary
A44 has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €22,715 and a net result of €17,715. Its solvency ranks better than 59% of 21,149 sector peers (NACE 62, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 10-10-2024 Normal situation
- Activity
- Computer programming NACE 62100and 5 others
- Establishment unit
- 2.365.227.511 1150 Sint-Pieters-Woluwe, since 10-10-2024
- Financial year end
- 30 June
- Peppol
- Reachable since 22-12-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
- Gross margin
- €27,947
- Turnover
- ≈ €91,000
- estimated
- Profit
- €17,715
- Equity
- €22,715
- Total assets
- €33,438
Score breakdownraises riskFounded in 2024lowers riskSector: Computer programming, consultancy and related activities (NACE 62)Liquidity: current ratio 2.96, cash €22,518Equity €22,715 (67.9% of total assets)Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 62, micro). It does better than 60% of them on solvency, 71% on liquidity and 82% on profitability.
The bankruptcy probability was computed on 02-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Searched, nothing found (1)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 26-01-2026 at the NBB
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 30-06-2025 |
|---|---|
| Tangible fixed assets | €1,850 |
| Intangible fixed assets | €3,152 |
| Depreciation and write-downs of the year | €3,354 |
Source: notes to the 2025 annual accounts (statement of fixed assets)
| Line | 2025 |
|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,354 |
| Gross operating margin9900 | €27,947 |
| Operating profit (loss)9901 | €24,593 |
| Financial charges65/66B | €15 |
| Recurring financial charges65 | €15 |
| Profit (loss) for the period before taxes9903 | €24,578 |
| Income taxes67/77 | €6,863 |
| Profit (loss) for the period9904 | €17,715 |
| Profit (loss) for the period to be appropriated9905 | €17,715 |
| Line | 2025 | |
|---|---|---|
| Assets | ||
| Total assets20/58 | €33,438 | |
| Formation expenses20 | €0 | |
| Fixed assets21/28 | €1,649 | |
| Tangible fixed assets22/27 | €1,649 | |
| Furniture and vehicles24 | €1,649 | |
| Current assets29/58 | €31,789 | |
| Amounts receivable within one year40/41 | €9,271 | |
| Trade receivables40 | €8,100 | |
| Other amounts receivable41 | €1,171 | |
| Cash at bank and in hand54/58 | €22,518 | |
| Equity and liabilities | ||
| Total equity and liabilities10/49 | €33,438 | |
| Equity10/15 | €22,715 | |
| Contributions10/11 | €5,000 | |
| Reserves13 | €17,710 | |
| Distributable reserves133 | €17,710 | |
| Profit (loss) carried forward14 | €5 | |
| Amounts payable17/49 | €10,723 | |
| Amounts payable within one year42/48 | €10,723 | |
| Taxes, remuneration and social security45 | €6,833 | |
| Taxes450/3 | €6,833 | |
| Other amounts payable47/48 | €3,890 | |
| Line | 2025 |
|---|---|
| Profit (loss) for the period9904 | €17,715 |
| + Depreciation and write-downs630 | €3,354 |
| Operating cash flow (approximation) | €21,069 |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 39,278 companies had the same profile as A44 has now. Two years later, 95.8% were still going and 1.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of A44 itself is lower: < 0.1% within 12 months. It rests on far more data about A44 than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 39,278 companies, not a prediction for A44. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (1)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 26-01-2026 | 2026-00013557 |
Board & ownership
Directors
Owners and capital
Shareholders
- CHELAS Aristeidis 100 shares (100%) · €5,000 in cash
Capital transactions
- 14-10-2024 Incorporation · €5,000 · 100 shares
Articles of association
Board and representation
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Avec ou sans limitation de durée, 1”
Capital, shares and profit
- Transfer restrictionThis rule says whether shareholders may sell their shares freely or need approval first.
- “Moitié cédant moitié acquéreurs proportionnellement nombre actions si plusieurs, cédant”
Audit, dissolution and liquidation
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Articles of association, deed of 14-10-2024 (in French)
Network & group
A44 shares no director with another company.
Companies at the same address
3 other companiesConnections & network
1 current directorThe network starts from the directors of A44. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
14-10
Gazette deed
IncorporationStarting capital €5,000 · Appointment: CHELAS Aristeidis (director) · Founder9 points ▸
- Founder, CHELAS Aristeidis (comparant)
- Incorporation, 09-10-2024
- Founding capital, €5,000
- Bank account, “KBC Brussels”, 5000 (deed in French)
- Capital
- Registered office clause, “1150 Woluwe-Saint-Pierre, Rue Maurice Liétart 18” (deed in French)
- Board rule, 1
- Director appointment, CHELAS Aristeidis (director (not named in the articles))
- Pre-incorporation commitments, “takeover, engagements,obligations,activites au nom et pour compte societe en formation” (deed in French)
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21019A0215/00L013 | Brussels | 1,750 m² | 1 · 489 m² | 18.6 m · 5 |