AC RECYCLING
ActiveAC RECYCLING has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €422k and a net result of €175k. Equity is shrinking by ~6.9% per year across the filed fiscal years. Its solvency ranks better than 10% of 230 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
60
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability72▲+4
Solvency29▲+1
Growth54▲+14
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity short (current ratio 0.37 against 0.39 in 2024; short-term debt: 54.3% and cash: 0.9% of total assets), and 95.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
4.4%
Return on assets
1.8%
Age of the figures
15 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 38
Relative position
BE, all sectors
reference
Sector 38
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 230 sector peers (2025).
NBB · sector comparisonPosition among 230 sector peers
Solvency
better than 10%
← weakest
strongest →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €422k
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 27-01-2026, 4 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
4 d early
2024
4 d early
2023
9 d early
2022
28 d late
2021
19 d early
2020
3 d early
2019
31 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close21-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€11.34M▼ 1.6%
2024 · €11.53M
2022: €10.13M
2023: €10.29M
2024: €11.53M
2022 → 2025
EBIT margin
3.3%▲ 1.3pp
2024 · 2.0%
2022: 1.7%
2023: -3.4%
2024: 2.0%
2022 → 2025
Net result
€175k▲ 534%
2024 · €28k
2019: €134k
2020: €10k
2021: €57k
2022: €11k
2023: €-485k
2024: €28k
2019 → 2025
Working capital
€-3.30M▲ 15.5%
2024 · €-3.91M
2019: €-2.71M
2020: €-2.05M
2021: €-2.63M
2022: €-2.52M
2023: €-3.57M
2024: €-3.91M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€10.13M€10.29M▲ 1.6%€11.53M▲ 12.0%€11.34M▼ 1.6%
Equity€694k-€705k▲ 1.5%€219k▼ 68.9%€247k▲ 12.6%€422k▲ 71.0%
Operating result€215k-€169k▼ 21.1%€-352k€232k€374k▲ 61.2%
Net result€57k-€11k▼ 81.3%€-485k€28k€175k▲ 534%
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 61% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €9.57M
Fixed assets
€7.67M▲ 27.2%
Current assets
€1.90M▼ 23.1%
Equity and liabilities €9.59M
Equity
€422k▲ 71.0%
Debt
€9.16M▲ 9.8%
The debt ratio falls from 97.1% to 95.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.57M▲
2024 · €1.32M
Cash flow
€1.37M▲
2024 · €1.11M
Solvency
4.4%▲
2024 · 2.9%
Current ratio
0.37▼
2024 · 0.39
Quick ratio
0.31▼
2024 · 0.34
Debt / equity
21.70▼
2024 · 33.79
ROE
41.5%▲
2024 · 11.2%
ROA
1.8%▲
2024 · 0.3%
Interest coverage
7.40▲
2024 · 6.16
Debt
€9.16M▲
2024 · €8.35M
Debt ≤ 1 year
€5.20M▼
2024 · €6.38M
Debt > 1 year
€2.26M▲
2024 · €1.77M
Income taxes
€682▲
2024 · €663
Staff costs
€398k▼
2024 · €538k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€8.59M€9.59M▲
Formation expenses20€86k€12k▼
Fixed assets21/28€6.03M€7.67M▲
Intangible fixed assets21€57k€34k▼
Tangible fixed assets22/27€5.97M€7.63M▲
Land and buildings22€119k€89k▼
Plant, machinery and equipment23€1.48M€1.67M▲
Furniture and vehicles24€570k€769k▲
Leasing and similar rights25€3.32M€4.62M▲
Other tangible fixed assets26€481k€490k▲
Financial fixed assets28€5k€5k=
Other financial fixed assets284/8€5k€5k=
Amounts receivable and cash guarantees285/8€5k€5k=
Current assets29/58€2.47M€1.90M▼
Stocks and contracts in progress3€325k€304k▼
Stocks30/36€325k€304k▼
Raw materials and consumables30/31€323k€304k▼
Goods purchased for resale34€2k-
Amounts receivable within one year40/41€1.96M€1.40M▼
Trade receivables40€1.95M€1.40M▼
Other amounts receivable41€8k€886▼
Cash at bank and in hand54/58€82k€89k▲
Deferred charges and accrued income490/1€108k€103k▼
Equity and liabilities
Total equity and liabilities10/49€8.59M€9.59M▲
Equity10/15€247k€422k▲
Contributions10/11€63k€63k=
Capital10€63k€63k=
Issued capital100€63k€63k=
Reserves13€6k€6k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Profit (loss) carried forward14€178k€354k▲
Amounts payable17/49€8.35M€9.16M▲
Amounts payable after more than one year17€1.77M€2.26M▲
Financial debts170/4€1.77M€2.26M▲
Leasing and similar obligations172€1.77M€2.26M▲
Amounts payable within one year42/48€6.38M€5.20M▼
Current portion of amounts payable after more than one year42€714k€931k▲
Financial debts43€725k€731k▲
Credit institutions430/8€725k€731k▲
Trade debts44€2.62M€2.27M▼
Suppliers440/4€2.62M€2.27M▼
Taxes, remuneration and social security45€57k€40k▼
Remuneration and social security454/9€57k€40k▼
Other amounts payable47/48€2.27M€1.23M▼
Accrued charges and deferred income492/3€198k€1.70M▲
Income statement
Code20242025
Operating income70/76A€11.63M€11.39M▼
Turnover70€11.53M€11.34M▼
Other operating income74€99k€13k▼
Non-recurring operating income76A-€28k
Operating charges60/66A€11.39M€11.01M▼
Goods for resale, raw materials and consumables60€3.81M€2.26M▼
Purchases600/8€3.84M€2.24M▼
Change in stocks: decrease (increase)609€-31k€21k▲
Services and other goods61€5.87M€7.13M▲
Remuneration, social security and pensions62€538k€398k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1.08M€1.19M▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€56k€-56k▼
Other operating charges640/8€37k€80k▲
Non-recurring operating charges66A-€4k
Operating profit (loss)9901€232k€374k▲
Financial income75/76B€10k€14k▲
Recurring financial income75€10k€14k▲
Other financial income752/9€10k€14k▲
Financial charges65/66B€214k€212k▼
Recurring financial charges65€214k€212k▼
Debt charges650€214k€212k▼
Profit (loss) for the period before taxes9903€28k€176k▲
Income taxes67/77€663€682▲
Taxes670/3€663€682▲
Profit (loss) for the period9904€28k€175k▲
Profit (loss) for the period to be appropriated9905€28k€175k▲
Appropriation of the result
Profit (loss) to be appropriated9906€178k€354k▲
Profit (loss) brought forward from the previous period14P€151k€178k▲
Social balance
Average headcount (FTE)90877.76.0▼
The notes to these accounts (82 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-01
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
30-06
Financial
Highest result since 2019net €175k ▲534%
Operating result €374k, net result €175k, both a record.
27-01
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
30-06
Financial
Back to profitnet €28k
Net result €28k after one loss-making year.
22-01
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
30-06
Financial
Weakest financial yearnet €-485k ▼4684%
Net result drops to €-485k, the lowest in the series; recovery starts the following year.
28-02
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 28 days late
2022
12-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
28-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
31-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
24-12
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
28-12
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
21-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2020
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
11-09-2020
ANDRE CELIS – HOLDING: Resigned as Director
11-09-2020
CELIS Nick: Resigned as Director
11-09-2020
Frans CELIS: Resigned as Managing director
11-09-2020
SWEVERS Christiane: Resigned as Director
19-01-2018
CELIS Nick: Resigned as Director
19-01-2018
Frans CELIS: Resigned as Managing director
19-01-2018
SWEVERS Christiane: Resigned as Director
19-01-2018
Andre Celis - Holding NV: Resigned as Director
Location & real-estate footprint
Registered office, Lubbeek · 1 establishment unit since 2006
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Staatsbaan(LUB) 1193210 LubbeekGround area
2.5 ha
Building footprint
1.1 ha
Volume, LiDAR
29,025 m³
2 parcels, Flanders · tallest building 14.7 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
AC Recycling
since 20062.157.662.753
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23038A0075/00H002 | Flanders | 1.8 ha | 1 · 7,807 m² | 14.7 m |
| 24066B0338/00L003 | Flanders | 6,197 m² | 1 · 3,163 m² | 11.1 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
MB SOLUTIONS SA
BE 0799.145.386
Thimister-Clermont · Eq €418k
WPJ INVEST
BE 0713.812.706
Herselt · Eq €432k
RETRIVAL
BE 0460.796.619
Charleroi · Eq €433k
Datavernietiging Michel
BE 0431.318.022
Kalmthout · Eq €412k
METAUCTIONS
BE 0795.933.894
Charleroi · Eq €409k
Of 977 companies in sector 38210 we hold annual accounts for 585. 401 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded27-03-2006
Fiscal year end30-06
Activities, NACEBEL
37100
38210Materials recovery from waste
38322Waste collection, recovery and disposal activities
37200
38219Waste collection, recovery and disposal activities
38323Waste collection, recovery and disposal activities
38330Waste collection, recovery and disposal activities
46872Wholesale trade
51570
52100Warehousing and storage
63122
90021
Sources
Crossroads Bank for EnterprisesNational Bank · 19 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.