AAXE - CLASS
ActiveSummary
AAXE - CLASS has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €649,768 and a net result of €25,198. Equity is growing by ~11% per year across the filed fiscal years. Its solvency ranks better than 60% of 36 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Financials · fiscal year 2025, full schema
In the rankings
#5 company by equity in Belgium, Households sector
Turnover
€7.9m▼ 1.8%
2024 · €8.0m
EBIT margin
0.9%▼ 0.5pp
2024 · 1.4%
Net result
€25,198▼ 41.2%
2024 · €42,871
Working capital
€650,946▲ 1.7%
2024 · €640,269
Trend over the years
In euros
In per cent
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€6.2m▲ 27.3%€8.0m▲ 27.7%€7.9m▼ 1.6%€8.0m▲ 2.4%€7.9m▼ 1.8%
Operating result€0.04m▲ 9.6%€0.2m▲ 308%€0.2m▲ 21.2%€0.1m▼ 42.8%€0.07m▼ 37.4%
Net result€0.02m▼ 28.0%€0.06m▲ 155%€0.1m▲ 70.5%€0.04m▼ 60.0%€0.03m▼ 41.2%
EBIT margin0.6%▼ 0.1pp2.1%▲ 1.4pp2.5%▲ 0.5pp1.4%▼ 1.1pp0.9%▼ 0.5pp
Equity€0.4m▲ 6.3%€0.5m▲ 15.2%€0.6m▲ 22.6%€0.6m▲ 7.4%€0.6m▲ 4.0%
Total assets€1.6m▲ 11.5%€2.1m▲ 31.6%€2.0m▼ 6.3%€2.1m▲ 6.0%€2.3m▲ 10.5%
Debt€1.2m▲ 13.4%€1.6m▲ 37.3%€1.4m▼ 14.8%€1.4m▲ 5.5%€1.6m▲ 13.2%
Working capital€0.4m▲ 6.7%€0.5m▲ 19.2%€0.6m▲ 20.1%€0.6m▲ 7.7%€0.7m▲ 1.7%
Staff (FTE)191.2▲ 5.1%224.1▲ 17.2%216.2▼ 3.5%201▼ 7.0%184.6▼ 8.2%
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 37% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.3m
Fixed assets
€400 =
Current assets
€2.3m ▲ 10.5%
Equity and liabilities €2.3m
Equity
€649,768 ▲ 4.0%
Debt
€1.6m ▲ 13.2%
Debt's share of the balance-sheet total rises from 69.9% to 71.6%. Equity and debt are higher.
Key figures and ratios
Current ratio
1.40▼
2024 · 1.45
Debt to equity
2.53▲
2024 · 2.32
ROE
3.9%▼
2024 · 6.9%
ROA
1.1%▼
2024 · 2.1%
Debt ≤ 1 year
€1.6m▲
2024 · €1.4m
Income taxes
€40,654▼
2024 · €61,133
Staff costs
€7.4m▲
2024 · €7.3m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 290 companies that looked in July 2024 the way this one looks now, 0% went bankrupt within 24 months and 97% are still going.
- Medium-sized
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
0%
went bankrupt
3.1%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,366 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 290 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €6.3m | €8.0m | €7.9m | €8.0m | €7.9m | ▼ 1.4% |
| Turnover70 | €6.2m | €8.0m | €7.9m | €8.0m | €7.9m | ▼ 1.8% |
| Other operating income74 | €0.06m | €0.04m | €0.04m | €0.009m | €0.04m | ▲ 334% |
| Operating charges60/66A | €6.3m | €7.9m | €7.7m | €7.9m | €7.9m | ▼ 0.9% |
| Services and other goods61 | €0.5m | €0.6m | €0.5m | €0.6m | €0.5m | ▼ 16.3% |
| Remuneration, social security and pensions62 | €5.7m | €7.2m | €7.2m | €7.3m | €7.4m | ▲ 0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €96 | €50 | - | - | - | - |
| Other operating charges640/8 | €0.001m | €0.02m | €0.001m | €0.001m | €0.002m | ▲ 29.7% |
| Operating profit (loss)9901 | €0.04m | €0.2m | €0.2m | €0.1m | €0.07m | ▼ 37.4% |
| Financial income75/76B | €0.001m | €0.001m | €0.002m | €0.005m | €0.004m | ▼ 10.6% |
| Recurring financial income75 | €0.001m | €0.001m | €0.002m | €0.005m | €0.004m | ▼ 10.6% |
| Income from current assets751 | €0.001m | €0.001m | - | €0.005m | €0.004m | ▼ 10.6% |
| Other financial income752/9 | - | - | €0.002m | - | - | - |
| Financial charges65/66B | €0.004m | €0.007m | €0.01m | €0.01m | €0.01m | ▼ 34.0% |
| Recurring financial charges65 | €0.004m | €0.007m | €0.01m | €0.01m | €0.01m | ▼ 34.0% |
| Debt charges650 | €0.003m | €0.004m | - | €0.01m | €0.009m | ▼ 34.8% |
| Other financial charges652/9 | €0.001m | €0.003m | €0.01m | €0.001m | €0.001m | ▼ 24.5% |
| Profit (loss) for the period before taxes9903 | €0.04m | €0.2m | €0.2m | €0.1m | €0.07m | ▼ 36.7% |
| Income taxes67/77 | €0.01m | €0.1m | €0.08m | €0.06m | €0.04m | ▼ 33.5% |
| Taxes670/3 | €0.01m | €0.1m | €0.08m | €0.06m | €0.05m | ▼ 13.0% |
| Tax adjustments and reversals of tax provisions77 | - | €118 | - | - | €0.01m | - |
| Profit (loss) for the period9904 | €0.02m | €0.06m | €0.1m | €0.04m | €0.03m | ▼ 41.2% |
| Profit (loss) for the period to be appropriated9905 | €0.02m | €0.06m | €0.1m | €0.04m | €0.03m | ▼ 41.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.6m | €2.1m | €2.0m | €2.1m | €2.3m | ▲ 10.5% |
| Fixed assets21/28 | €449 | €400 | €400 | €400 | €400 | = |
| Tangible fixed assets22/27 | €50 | - | - | - | - | - |
| Plant, machinery and equipment23 | €50 | - | - | - | - | - |
| Financial fixed assets28 | €400 | €400 | €400 | €400 | €400 | = |
| Other financial fixed assets284/8 | €400 | €400 | €400 | €400 | €400 | = |
| Amounts receivable and cash guarantees285/8 | €400 | €400 | €400 | €400 | €400 | = |
| Current assets29/58 | €1.6m | €2.1m | €2.0m | €2.1m | €2.3m | ▲ 10.5% |
| Amounts receivable within one year40/41 | €0.6m | €0.9m | €0.7m | €0.8m | €1.0m | ▲ 21.2% |
| Trade receivables40 | €0.4m | €0.6m | €0.6m | €0.5m | €0.6m | ▲ 22.1% |
| Other amounts receivable41 | €0.2m | €0.3m | €0.2m | €0.3m | €0.3m | ▲ 19.5% |
| Cash at bank and in hand54/58 | €1.0m | €1.2m | €1.2m | €1.3m | €1.3m | ▲ 4.0% |
| Deferred charges and accrued income490/1 | €0.02m | - | €52 | €0.001m | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.6m | €2.1m | €2.0m | €2.1m | €2.3m | ▲ 10.5% |
| Equity10/15 | €0.4m | €0.5m | €0.6m | €0.6m | €0.6m | ▲ 4.0% |
| Contributions10/11 | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.05m | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Non-distributable reserves130/1 | €0.002m | €0.002m | - | - | - | - |
| Reserves not available under the articles1311 | €0.002m | €0.002m | - | - | - | - |
| Distributable reserves133 | €0.04m | €0.04m | €0.05m | €0.05m | €0.05m | = |
| Profit (loss) carried forward14 | €0.3m | €0.4m | €0.5m | €0.6m | €0.6m | ▲ 4.5% |
| Amounts payable17/49 | €1.2m | €1.6m | €1.4m | €1.4m | €1.6m | ▲ 13.2% |
| Amounts payable within one year42/48 | €1.2m | €1.6m | €1.4m | €1.4m | €1.6m | ▲ 14.4% |
| Financial debts43 | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 0.6% |
| Credit institutions430/8 | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 0.6% |
| Trade debts44 | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 4.4% |
| Suppliers440/4 | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 4.4% |
| Taxes, remuneration and social security45 | €0.9m | €1.1m | €1.0m | €1.1m | €1.2m | ▲ 16.9% |
| Taxes450/3 | €0.02m | €0.03m | €0.02m | €0.02m | €0.05m | ▲ 82.6% |
| Remuneration and social security454/9 | €0.8m | €1.1m | €1.0m | €1.0m | €1.2m | ▲ 15.4% |
| Other amounts payable47/48 | €0.05m | €0.2m | €0.02m | €0.02m | €0.04m | ▲ 96.4% |
| Accrued charges and deferred income492/3 | €0.004m | €0.02m | €0.01m | €0.02m | €0.002m | ▼ 90.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24,580 | €62,770 | €107,045 | €42,871 | €25,198 | ▼ 41.2% |
| + Depreciation and write-downs630 | €96 | €50 | - | - | - | - |
| Operating cash flow (approximation) | €24,676 | €62,819 | €107,045 | €42,871 | €25,198 | ▼ 41.2% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €250,589 | -€2,818 | €66,746 | €51,319 | ▼ 23.1% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Similar companies · same sector, comparable size
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Of 4,995 companies in this sector we hold annual accounts for 56. 39 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Subsidies and aid
Flemish government
2022 to 2025 · 9 entries · €5.8m awarded · €5.8m paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 3 | €1.5m | €1.5m |
| 2024 | 2 | €1.5m | €1.5m |
| 2023 | 2 | €1.5m | €1.4m |
| 2022 | 2 | €1.4m | €1.4m |