AB NETWORK
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 15-07-2026 at the NBB all 39 filings
Turnover
≈ €15.0m
Estimated: probably between €8.8m and €25.0m
EBIT margin
Not included in this filing
Net result
€95,011▲ 116%
2024 · €43,932
Working capital
-€2.0m▲ 11.2%
2024 · -€2.2m
In the rankings
#3 employer in Villers-le-Bouillet, Wholesale and retail trade sector#6 company by total assets in Villers-le-Bouillet, Wholesale and retail trade sector#6 oldest company in Villers-le-Bouillet, Wholesale and retail trade sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€240,864
▲ 8.4%
2025
20182025
Net result
€95,011
▲ 116%
2025
middle half of the sector
20182025
Equity
-€484,764
▲ 15.5%
2025
lowest quarter of the sector
20182025
Total assets
€3.7m
▲ 29.9%
2025
middle half of the sector
20182025
Debt
€4.2m
▲ 22.4%
2025
20182025
Working capital
-€2.0m
▲ 11.2%
2025
lowest quarter of the sector
20182025
Solvency
-13.0%
▲ 7.0pp
2025
lowest quarter of the sector
20182025
Current ratio
0.53
▲ 0.17
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
2.6%
▲ 1.0pp
2025
middle half of the sector
20182025
Staff (FTE)
33.9
▼ 7.4%
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€0.1m--€0.1m€0.2m-€0.1m-€0.2m▼ 6.3%-€0.5m▼ 213%€0.2m€0.2m▲ 8.4%
Net result€0.1m--€0.1m€0.2mwithin the sector's middle half-€0.2mbelow the sector's middle half-€0.2mbelow the sector's middle half▼ 16.3%-€0.6mbelow the sector's middle half▼ 174%€0.04mwithin the sector's middle half€0.1mwithin the sector's middle half▲ 116%
Equity€0.3m-€0.3m▼ 21.7%€0.5mwithin the sector's middle half▲ 82.9%€0.3mwithin the sector's middle half▼ 44.4%€0.05mbelow the sector's middle half▼ 81.2%-€0.6mbelow the sector's middle half-€0.6mbelow the sector's middle half▲ 2.4%-€0.5mbelow the sector's middle half▲ 15.5%
Total assets€2.8m-€3.0m▲ 7.8%€3.4mwithin the sector's middle half▲ 12.4%€4.2mwithin the sector's middle half▲ 23.4%€3.2mwithin the sector's middle half▼ 23.2%€3.1mwithin the sector's middle half▼ 3.0%€2.9mwithin the sector's middle half▼ 8.6%€3.7mwithin the sector's middle half▲ 29.9%
Debt€2.5m-€2.8m▲ 11.7%€2.9m▲ 6.0%€3.9m▲ 34.2%€3.2m▼ 19.4%€3.7m▲ 17.0%€3.4m▼ 7.6%€4.2m▲ 22.4%
Working capital€0.3m--€0.9m-€1.2mbelow the sector's middle half▼ 37.9%-€0.7mbelow the sector's middle half▲ 39.2%-€1.5mbelow the sector's middle half▼ 99.1%-€2.2mbelow the sector's middle half▼ 51.1%-€2.2mbelow the sector's middle half▼ 0.9%-€2.0mbelow the sector's middle half▲ 11.2%
Solvency11.6%-8.4%▼ 3.2pp13.7%below the sector's middle half▲ 5.3pp6.2%below the sector's middle half▼ 7.5pp1.5%below the sector's middle half▼ 4.7pp-18.8%below the sector's middle half▼ 20.3pp-20.1%below the sector's middle half▼ 1.3pp-13.0%below the sector's middle half▲ 7.0pp
Current ratio1.14-0.64▼ 0.500.55below the sector's middle half▼ 0.080.76below the sector's middle half▲ 0.210.48below the sector's middle half▼ 0.280.39below the sector's middle half▼ 0.090.35below the sector's middle half▼ 0.040.53below the sector's middle half▲ 0.17
Return on assets (ROA)4.2%--3.8%▼ 8.0pp4.4%within the sector's middle half▲ 8.2pp-4.7%below the sector's middle half▼ 9.1pp-7.1%below the sector's middle half▼ 2.4pp-20.1%below the sector's middle half▼ 13.0pp1.5%within the sector's middle half▲ 21.7pp2.6%within the sector's middle half▲ 1.0pp
Staff (FTE)24.1-31.6▲ 31.1%32.5above the sector's middle half▲ 2.8%30.2above the sector's middle half▼ 7.1%32above the sector's middle half▲ 6.0%38.4above the sector's middle half▲ 20.0%36.6above the sector's middle half▼ 4.7%33.9above the sector's middle half▼ 7.4%
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 8% higher than in 2024 and the highest since 2018. It is the second rise in a row, after the fall in 2023.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.7m
Fixed assets
€1.5m ▼ 6.6%
Current assets
€2.2m ▲ 79.4%
Equity and liabilities
Equity-€484,764
Debt€4.2m
Equity is negative. Debt (€4.2m) exceeds the balance-sheet total (€3.7m).
Key figures and ratios
EBITDA
€381,757▲
2024 · €363,447
Cash flow
€235,904▲
2024 · €185,128
Interest coverage
2.69▲
2024 · 2.16
Debt ≤ 1 year
€4.1m▲
2024 · €3.4m
Debt > 1 year
€0=
2024 · €0
Income taxes
€10,039▼
2024 · €11,432
Staff costs
€3.1m▼
2024 · €3.1m
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 29 | 38 | 38 | 36 | 32 |
| full-time | 28 | 36 | 34 | 31 | 31 |
| part-time | 1 | 2 | 4 | 5 | 1 |
| in full-time equivalents | 28.8 | 37.3 | 36.3 | 34 | 31.5 |
| Average over the year, in full-time equivalents | 30.2 | 32 | 38.4 | 36.6 | 33.9 |
| On a permanent contract | 29 | 38 | 38 | 36 | 32 |
| Joined | 16 | 17 | 17 | 7 | 9 |
| Left | 20 | 8 | 17 | 9 | 13 |
| Training hours | 1,195 | 491 | 1,885 | 1,450 | 1,490 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €0 | €0 | €0 | €0 | €0 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €74,675 | €68,012 | €19,304 | €77,592 | €17,821 |
| Financial fixed assets | €55,210 | €5,840 | - | - | €21,563 |
| Depreciation and write-downs of the year | €125,891 | €123,115 | €135,872 | €141,197 | €140,893 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Public contracts
2 awards · 2018 to 2020
Unified Communication en Netwerk services: 21
Prestations d'assistance informatique: Réseau
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €2.4m | €2.3m | €3.2m | €3.1m | €3.1m | ▼ 2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.05m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 0.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | -€0.04m | €0 | €0 | €0 | €0 | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Other operating charges640/8 | - | - | - | €0.04m | €0.001m | €0.02m | €0.002m | €0.04m | ▲ 16× |
| Non-recurring operating charges66A | - | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Gross operating margin9900 | €1.6m | €2.1m | €2.3m | €2.4m | €2.3m | €2.8m | €3.5m | €3.5m | ▼ 0.5% |
| Operating profit (loss)9901 | €0.1m | -€0.1m | €0.2m | -€0.1m | -€0.2m | -€0.5m | €0.2m | €0.2m | ▲ 8.4% |
| Financial income75/76B | - | - | - | €0.009m | €0.01m | €0.008m | €0.002m | €0.006m | ▲ 264% |
| Recurring financial income75 | €0.001m | €0.004m | €0.01m | €0.009m | €0.01m | €0.008m | €0.002m | €0.006m | ▲ 264% |
| Non-recurring financial income76B | - | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Financial charges65/66B | - | - | - | €0.05m | €0.07m | €0.1m | €0.2m | €0.1m | ▼ 15.8% |
| Recurring financial charges65 | €0.03m | €0.01m | €0.04m | €0.05m | €0.07m | €0.1m | €0.2m | €0.1m | ▼ 15.8% |
| Profit (loss) for the period before taxes9903 | €0.1m | -€0.1m | €0.2m | -€0.2m | -€0.2m | -€0.6m | €0.06m | €0.1m | ▲ 89.7% |
| Transfer from deferred taxes780 | - | - | - | €0.001m | €0 | €0 | €0 | €0 | - |
| Income taxes67/77 | €0.005m | €0.005m | €0.004m | €0.007m | €0.008m | €0.01m | €0.01m | €0.01m | ▼ 12.2% |
| Profit (loss) for the period9904 | €0.1m | -€0.1m | €0.2m | -€0.2m | -€0.2m | -€0.6m | €0.04m | €0.1m | ▲ 116% |
| Profit (loss) for the period to be appropriated9905 | €0.1m | -€0.1m | €0.2m | -€0.2m | -€0.2m | -€0.6m | €0.04m | €0.1m | ▲ 116% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €2.8m | €3.0m | €3.4m | €4.2m | €3.2m | €3.1m | €2.9m | €3.7m | ▲ 29.9% |
| Fixed assets21/28 | €0.6m | €1.5m | €1.9m | €1.9m | €1.9m | €1.7m | €1.6m | €1.5m | ▼ 6.6% |
| Intangible fixed assets21 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Tangible fixed assets22/27 | €0.6m | €1.5m | €1.9m | €1.9m | €1.8m | €1.7m | €1.6m | €1.5m | ▼ 7.9% |
| Land and buildings22 | - | - | - | €1.9m | €1.8m | €1.7m | €1.6m | €1.4m | ▼ 7.0% |
| Plant, machinery and equipment23 | - | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Furniture and vehicles24 | - | - | - | €0.01m | €0.05m | €0.05m | €0.08m | €0.05m | ▼ 40.5% |
| Leasing and similar rights25 | - | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Other tangible fixed assets26 | - | - | - | - | - | - | - | €0.01m | - |
| Financial fixed assets28 | €0 | €0 | €0 | €0.06m | €0.06m | €0.02m | €0.006m | €0.03m | ▲ 369% |
| Current assets29/58 | €2.2m | €1.5m | €1.5m | €2.3m | €1.3m | €1.4m | €1.2m | €2.2m | ▲ 79.4% |
| Amounts receivable after more than one year29 | - | - | - | €0.009m | €88 | €0 | €0 | €0 | - |
| Trade receivables290 | - | - | - | €0.009m | €88 | €0 | €0 | €0 | - |
| Stocks and contracts in progress3 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Stocks30/36 | - | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Amounts receivable within one year40/41 | €1.8m | €1.2m | €1.2m | €1.4m | €1.0m | €1.1m | €1.0m | €1.7m | ▲ 69.9% |
| Trade receivables40 | - | - | - | €1.4m | €1.0m | €1.1m | €1.0m | €1.7m | ▲ 70.2% |
| Other amounts receivable41 | - | - | - | €304 | €0.001m | €0.005m | €0.002m | €0 | ▼ 100% |
| Current investments50/53 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.003m | ▲ 131% |
| Cash at bank and in hand54/58 | €0.06m | €0.07m | €0.09m | €0.2m | €0.2m | €0.2m | €0.2m | €0.4m | ▲ 136% |
| Deferred charges and accrued income490/1 | - | - | - | €0.7m | €0.2m | €0.06m | €0.04m | €0.08m | ▲ 83.0% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €2.8m | €3.0m | €3.4m | €4.2m | €3.2m | €3.1m | €2.9m | €3.7m | ▲ 29.9% |
| Equity10/15 | €0.3m | €0.3m | €0.5m | €0.3m | €0.05m | -€0.6m | -€0.6m | -€0.5m | ▲ 15.5% |
| Contributions10/11 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Capital10 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Issued capital100 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Reserves13 | €0.09m | €0.09m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Non-distributable reserves130/1 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Legal reserve130 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves not available under the articles1311 | - | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Tax-exempt reserves132 | - | - | - | €0.08m | €0.08m | €0.08m | €0.08m | €0.08m | = |
| Distributable reserves133 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Profit (loss) carried forward14 | -€0.002m | -€0.1m | €0.03m | -€0.2m | -€0.4m | -€1.0m | -€1.0m | -€0.9m | ▲ 9.6% |
| Investment grants15 | - | - | - | €0.1m | €0.1m | €0.1m | €0.08m | €0.08m | ▼ 7.3% |
| Provisions and deferred taxes16 | €0.002m | €0.002m | €0.001m | €0 | €0 | €0 | €0 | €0 | - |
| Provisions for liabilities and charges160/5 | - | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Other liabilities and charges164/5 | - | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Deferred taxes168 | - | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €2.5m | €2.8m | €2.9m | €3.9m | €3.2m | €3.7m | €3.4m | €4.2m | ▲ 22.4% |
| Amounts payable after more than one year17 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Financial debts170/4 | - | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Other amounts payable178/9 | - | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Amounts payable within one year42/48 | €2.0m | €2.4m | €2.7m | €3.0m | €2.8m | €3.6m | €3.4m | €4.1m | ▲ 20.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Financial debts43 | - | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Credit institutions430/8 | - | - | - | €0 | €0 | €0 | €0 | €0 | - |
| Trade debts44 | €1.2m | €0.9m | €1.0m | €0.8m | €0.6m | €1.4m | €0.9m | €1.4m | ▲ 47.3% |
| Suppliers440/4 | - | - | - | €0.8m | €0.6m | €1.4m | €0.9m | €1.4m | ▲ 47.3% |
| Advances received on contracts in progress46 | - | - | - | €0.001m | €0 | €0.001m | €0.03m | €0.005m | ▼ 84.1% |
| Taxes, remuneration and social security45 | - | - | - | €0.4m | €0.3m | €0.4m | €0.4m | €0.5m | ▲ 36.5% |
| Taxes450/3 | - | - | - | €0.2m | €0.07m | €0.07m | €0.06m | €0.2m | ▲ 254% |
| Remuneration and social security454/9 | - | - | - | €0.2m | €0.3m | €0.3m | €0.3m | €0.3m | ▼ 9.1% |
| Other amounts payable47/48 | - | - | - | €1.8m | €1.8m | €1.9m | €2.1m | €2.3m | ▲ 7.8% |
| Accrued charges and deferred income492/3 | - | - | - | €0.9m | €0.4m | €0.1m | €0.004m | €0.05m | ▲ 13× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.1m | -€0.1m | €0.2m | -€0.2m | -€0.2m | -€0.6m | €0.04m | €0.1m | ▲ 116% |
| + Depreciation and write-downs630 | €0.05m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 0.2% |
| Operating cash flow (approximation) | €0.2m | -€0.02m | €0.3m | -€0.07m | -€0.1m | -€0.5m | €0.2m | €0.2m | ▲ 27.4% |
| Investment in fixed assets (approximation) | - | -€1.0m | -€0.5m | -€0.1m | -€0.07m | €0.02m | -€0.07m | -€0.03m | ▲ 51.3% |
| Change in cash | - | €0.005m | €0.02m | €0.07m | €0.04m | €0.007m | -€0.04m | €0.2m | - |
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, 519 companies had the same profile as AB NETWORK has now. Two years later, 91.5% were still going and 2.9% had gone bankrupt.
- Small
- 20 years or older
- negative equity
- a profit under 5% of the balance sheet
91.5%
was still going
3.9%
stopped otherwise
2.9%
went bankrupt
Another 1.7% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of AB NETWORK itself: 1.0% within 12 months.
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 519 companies, not a prediction for AB NETWORK. 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.
Latest 10 of 39 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 15-07-2026 | 2026-00301343 | |
| 31-12-2024 | full format | 15-07-2025 | 2025-00268987 | |
| 31-12-2023 | full format | 24-07-2024 | 2024-00289889 | |
| 31-12-2022 | full format | 13-07-2023 | 2023-00250259 | |
| 31-12-2021 | full format | 05-08-2022 | 2022-20271451 | |
| 31-12-2020 | full format | 30-07-2021 | 2021-43500078 | |
| 31-12-2019 | full format | 18-09-2020 | 2020-54400516 | |
| 31-12-2018 | full format | 14-08-2019 | 2019-46400517 | |
| 31-12-2017 | full format | 30-07-2018 | 2018-41400476 | |
| 31-12-2016 | full format | 29-08-2017 | 2017-50300311 |