AC Connect
ActiveSummary
The annual accounts of AC Connect for fiscal year 2025 show a net loss of 119% of total assets and of 84% of the equity at the start of that year. The 2025 annual accounts show equity of €28k and a net result of €-151k. Equity is shrinking by ~6.3% per year across the filed fiscal years. Its solvency ranks better than 44% of 14128 sector peers (fiscal year 2025). The company has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-19
Solvency47▼-45
Growth32=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1k at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity ample (current ratio 26.04; short-term debt: 0.4% and cash: 0.4% of total assets), but 78% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
22%
Return on assets
-119.4%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-151k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 22-07-2026, 9 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
9 d early
2024
38 d early
2023
41 d early
2022
32 d early
2021
31 d early
2020
31 d early
2019
32 d early
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€28k▼ 84.5%
2024 · €179k
2018: €256khighest in 8 years
2019: €248k▼ -3.2% vs 2018
2020: €221k▼ -10.7% vs 2019
2021: €207k▼ -6.3% vs 2020
2022: €205k▼ -1.0% vs 2021
2023: €198k▼ -3.4% vs 2022
2024: €179k▼ -9.8% vs 2023
2025: €28k▼ -84.5% vs 2024lowest in 8 years
2018 → 2025
Total assets
€126k▼ 52.3%
2024 · €265k
2018: €466khighest in 8 years
2019: €458k▼ -1.7% vs 2018
2020: €433k▼ -5.4% vs 2019
2021: €442k▲ +2.0% vs 2020
2022: €417k▼ -5.7% vs 2021
2023: €263k▼ -37.0% vs 2022
2024: €265k▲ +1.0% vs 2023
2025: €126k▼ -52.3% vs 2024lowest in 8 years
2018 → 2025
Net result
€-151k▼ 680%
2024 · €-19k
2018: €-10k
2019: €-8k▲ +14.6% vs 2018
2020: €-27k▼ -221% vs 2019
2021: €-14k▲ +47.7% vs 2020
2022: €-2k▲ +85.5% vs 2021highest in 8 years
2023: €-7k▼ -248% vs 2022
2024: €-19k▼ -175% vs 2023
2025: €-151k▼ -680% vs 2024lowest in 8 years
2018 → 2025
Working capital
€11k▼ 92.5%
2024 · €150k
2018: €340khighest in 8 years
2019: €336k▼ -1.1% vs 2018
2020: €314k▼ -6.5% vs 2019
2021: €300k▼ -4.4% vs 2020
2022: €293k▼ -2.3% vs 2021
2023: €147k▼ -49.9% vs 2022
2024: €150k▲ +2.3% vs 2023
2025: €11k▼ -92.5% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€207k-€205k▼ 1.0%€198k▼ 3.4%€179k▼ 9.8%€28k▼ 84.5%
2021: €207khighest in 5 years
2022: €205k▼ -1.0% vs 2021
2023: €198k▼ -3.4% vs 2022
2024: €179k▼ -9.8% vs 2023
2025: €28k▼ -84.5% vs 2024lowest in 5 years
Operating result€-15k-€-7k▲ 52.4%€-9k▼ 20.6%€-19k▼ 114%€-150k▼ 702%
2021: €-15k
2022: €-7k▲ +52.4% vs 2021highest in 5 years
2023: €-9k▼ -20.6% vs 2022
2024: €-19k▼ -114% vs 2023
2025: €-150k▼ -702% vs 2024lowest in 5 years
Net result€-14k-€-2k▲ 85.5%€-7k▼ 248%€-19k▼ 175%€-151k▼ 680%
2021: €-14k
2022: €-2k▲ +85.5% vs 2021highest in 5 years
2023: €-7k▼ -248% vs 2022
2024: €-19k▼ -175% vs 2023
2025: €-151k▼ -680% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €150k in 2025 against €19k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €126k
Fixed assets
€115k =
Current assets
€12k ▼ 92.2%
Equity and liabilities €126k
Equity
€28k ▼ 84.5%
Debt
€99k ▲ 14.6%
Debt's share of the balance-sheet total rises from 32.5% to 78.0%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
26.04
Debt to equity
3.55▲
2024 · 0.48
ROE
-543.9%▼
2024 · -10.8%
ROA
-119.4%▼
2024 · -7.3%
Debt ≤ 1 year
€449▲
2024 · €17
Debt > 1 year
€98k▲
2024 · €86k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 36 lines
Balance sheet
Code20242025
Assets
Total assets20/58€265k€126k▼
Fixed assets21/28€115k€115k=
Tangible fixed assets22/27€115k€115k=
Land and buildings22€84k€84k=
Plant, machinery and equipment23€30k€30k=
Current assets29/58€150k€12k▼
Stocks and contracts in progress3€138k-
Stocks30/36€138k-
Amounts receivable within one year40/41€11k€11k▲
Other amounts receivable41€11k€11k▲
Cash at bank and in hand54/58€919€545▼
Equity and liabilities
Total equity and liabilities10/49€265k€126k▼
Equity10/15€179k€28k▼
Contributions10/11€62k€62k=
Reserves13€182k€182k=
Non-distributable reserves130/1€3k€3k=
Reserves not available under the articles1311€3k€3k=
Distributable reserves133€179k€179k=
Profit (loss) carried forward14€-65k€-216k▼
Amounts payable17/49€86k€99k▲
Amounts payable after more than one year17€86k€98k▲
Other amounts payable178/9€86k€98k▲
Amounts payable within one year42/48€17€449▲
Trade debts44€17€449▲
Suppliers440/4€17€449▲
Income statement
Code20242025
Other operating charges640/8€7k€7k▲
Non-recurring operating charges66A-€136k
Gross operating margin9900€-12k€-7k▲
Operating profit (loss)9901€-19k€-150k▼
Financial charges65/66B€629€746▲
Recurring financial charges65€629€746▲
Profit (loss) for the period before taxes9903€-19k€-151k▼
Profit (loss) for the period9904€-19k€-151k▼
Profit (loss) for the period to be appropriated9905€-19k€-151k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-65k€-216k▼
Profit (loss) brought forward from the previous period14P€-46k€-65k▼
The notes to these accounts (3 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €2k | €279 | - | - | - |
| Other operating charges640/8 | €8k | €6k | €6k | €7k | €7k | ▲ 9.0% |
| Non-recurring operating charges66A | - | - | - | - | €136k | - |
| Gross operating margin9900 | €-7k | €-1k | €-3k | €-12k | €-7k | ▲ 39.6% |
| Operating profit (loss)9901 | €-15k | €-7k | €-9k | €-19k | €-150k | ▼ 702% |
| Financial income75/76B | €3k | €6k | €2k | - | - | - |
| Recurring financial income75 | €3k | €6k | €2k | - | - | - |
| Financial charges65/66B | €1k | €775 | €644 | €629 | €746 | ▲ 18.6% |
| Recurring financial charges65 | €1k | €775 | €644 | €629 | €746 | ▲ 18.6% |
| Profit (loss) for the period before taxes9903 | €-14k | €-2k | €-7k | €-19k | €-151k | ▼ 680% |
| Profit (loss) for the period9904 | €-14k | €-2k | €-7k | €-19k | €-151k | ▼ 680% |
| Profit (loss) for the period to be appropriated9905 | €-14k | €-2k | €-7k | €-19k | €-151k | ▼ 680% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €442k | €417k | €263k | €265k | €126k | ▼ 52.3% |
| Fixed assets21/28 | €115k | €115k | €115k | €115k | €115k | = |
| Tangible fixed assets22/27 | €115k | €115k | €115k | €115k | €115k | = |
| Land and buildings22 | €84k | €84k | €84k | €84k | €84k | = |
| Plant, machinery and equipment23 | €30k | €30k | €30k | €30k | €30k | = |
| Current assets29/58 | €327k | €302k | €148k | €150k | €12k | ▼ 92.2% |
| Stocks and contracts in progress3 | €162k | €138k | €138k | €138k | - | - |
| Stocks30/36 | €162k | €138k | €138k | €138k | - | - |
| Amounts receivable within one year40/41 | €164k | €162k | €9k | €11k | €11k | ▲ 1.2% |
| Trade receivables40 | - | €437 | - | - | - | - |
| Other amounts receivable41 | €164k | €161k | €9k | €11k | €11k | ▲ 1.2% |
| Cash at bank and in hand54/58 | €341 | €2k | €546 | €919 | €545 | ▼ 40.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €442k | €417k | €263k | €265k | €126k | ▼ 52.3% |
| Equity10/15 | €207k | €205k | €198k | €179k | €28k | ▼ 84.5% |
| Contributions10/11 | €62k | €62k | €62k | €62k | €62k | = |
| Capital10 | €62k | €62k | €62k | - | - | - |
| Issued capital100 | €62k | €62k | €62k | - | - | - |
| Reserves13 | €182k | €182k | €182k | €182k | €182k | = |
| Non-distributable reserves130/1 | €3k | €3k | €3k | €3k | €3k | = |
| Legal reserve130 | €3k | €3k | €3k | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €3k | €3k | = |
| Distributable reserves133 | €179k | €179k | €179k | €179k | €179k | = |
| Profit (loss) carried forward14 | €-36k | €-38k | €-46k | €-65k | €-216k | ▼ 233% |
| Amounts payable17/49 | €234k | €211k | €64k | €86k | €99k | ▲ 14.6% |
| Amounts payable after more than one year17 | €203k | €203k | €63k | €86k | €98k | ▲ 14.1% |
| Other amounts payable178/9 | €203k | €203k | €63k | €86k | €98k | ▲ 14.1% |
| Amounts payable within one year42/48 | €27k | €9k | €809 | €17 | €449 | ▲ 2,552% |
| Trade debts44 | €27k | €9k | €809 | €17 | €449 | ▲ 2,552% |
| Suppliers440/4 | €27k | €9k | €809 | €17 | €449 | ▲ 2,552% |
| Accrued charges and deferred income492/3 | €5k | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-14k | €-2k | €-7k | €-19k | €-151k | ▼ 680% |
| Operating cash flow (approximation) | €-14k | €-2k | €-7k | €-19k | €-151k | ▼ 680% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €1k | €-1k | €373 | €-374 | ▼ 200% |
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
22-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €-151k
Net result drops to €-151k, the lowest in the series.
23-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Liquidity times 49current ratio 8870.24
Current ratio from 182.62 to 8870.24; short-term debt falls from €809 to €17.
20-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity times 5current ratio 182.62
Current ratio from 35.20 to 182.62; short-term debt falls from €9k to €809.
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Liquidity triplescurrent ratio 35.20
Current ratio from 12.27 to 35.20; short-term debt falls from €27k to €9k.
30-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
29-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
24-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
04-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
26-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
5 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Ichtegem · 1 establishment unit since 1990
Ground area
2,536 m²
Building footprint
800 m²
Volume, LiDAR
4,729 m³
Parcel 35006D0120/00Y000, Flanders · tallest building 11.1 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Oostendesteenweg(FEER) 128, 8480 Ichtegem
since 19902.049.589.709
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 35006D0120/00Y000 | Flanders | 2,536 m² | 1 · 800 m² | 11.1 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 9,136 companies in sector 68201 we hold annual accounts for 6,765. 2,613 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded08-06-1990
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
47811Retail sale of cars and light vans (up to 3.5 tonnes)
68310Real estate agency activities
Scores and ratios are computed by Checked and are not a credit decision.