Summary
ACARAS is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €5,226 and a net result of €2,134. Equity is shrinking by ~30.6% per year across the filed fiscal years. Its solvency ranks better than 12% of 8074 sector peers (fiscal year 2025). The company has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 12% of 8074 sector peers (2025).
NBB · sector comparisonPosition among 8074 sector peers
Solvency
better than 12%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 19-08-2026, 19 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
19 d late
2024
34 d early
2023
20 d late
2022
19 d late
2021
29 d late
2020
25 d late
2019
92 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 24 days after the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€5,226▲ 69.0%
2024 · €3,093
Net result
€2,134
2024 · -€5,798
Total assets
€101,929▲ 3.6%
2024 · €98,358
Solvency
5.1%▲ 2.0pp
2024 · 3.1%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover
Operating result-€14,302-€9,297▲ 35.0%€3,172-€3,866€3,925
Net result-€16,794below the sector's middle half▼ 1,470%-€10,996below the sector's middle half▲ 34.5%€1,061below the sector's middle half-€5,798below the sector's middle half€2,134below the sector's middle half
Equity€18,825below the sector's middle half▼ 47.1%€7,829below the sector's middle half▼ 58.4%€8,890below the sector's middle half▲ 13.6%€3,093below the sector's middle half▼ 65.2%€5,226below the sector's middle half▲ 69.0%
Total assets€135,761within the sector's middle half▼ 17.6%€112,973below the sector's middle half▼ 16.8%€121,171below the sector's middle half▲ 7.3%€98,358below the sector's middle half▼ 18.8%€101,929below the sector's middle half▲ 3.6%
Debt€116,936▼ 9.5%€105,144▼ 10.1%€112,281▲ 6.8%€95,265▼ 15.2%€96,702▲ 1.5%
Working capital€1,513▼ 91.6%-€10,112-€9,214▲ 8.9%-€15,323▼ 66.3%-€17,300▼ 12.9%
Solvency13.9%below the sector's middle half▼ 7.7pp6.9%below the sector's middle half▼ 6.9pp7.3%below the sector's middle half▲ 0.4pp3.1%below the sector's middle half▼ 4.2pp5.1%below the sector's middle half▲ 2.0pp
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €3,925 after a loss of €3,866 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €101,929
Fixed assets
€92,296 ▼ 4.1%
Current assets
€9,633 ▲ 365%
Equity and liabilities €101,929
Equity
€5,226 ▲ 69.0%
Debt
€96,702 ▲ 1.5%
Debt's share of the balance-sheet total falls from 96.9% to 94.9%. Equity and debt are higher.
Key figures and ratios
ROE
40.8%▲
2024 · -187.5%
ROA
2.1%▲
2024 · -5.9%
Debt ≤ 1 year
€26,932▲
2024 · €17,396
Debt > 1 year
€69,770▼
2024 · €77,869
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,638 | €7,637 | €7,638 | €7,638 | €6,921 | ▼ 9.4% |
| Other operating charges640/8 | €731 | €1,084 | €1,497 | €1,229 | €1,266 | ▲ 3.0% |
| Gross operating margin9900 | -€5,933 | -€576 | €12,307 | €5,000 | €12,112 | ▲ 142% |
| Operating profit (loss)9901 | -€14,302 | -€9,297 | €3,172 | -€3,866 | €3,925 | ▲ 202% |
| Financial income75/76B | €2 | - | - | - | €6 | - |
| Recurring financial income75 | €2 | - | - | - | €6 | - |
| Financial charges65/66B | €2,093 | €1,699 | €2,111 | €1,931 | €1,797 | ▼ 6.9% |
| Recurring financial charges65 | €2,093 | €1,699 | €2,111 | €1,931 | €1,797 | ▼ 6.9% |
| Profit (loss) for the period before taxes9903 | -€16,393 | -€10,996 | €1,061 | -€5,798 | €2,134 | ▲ 137% |
| Income taxes67/77 | €401 | - | - | - | - | - |
| Profit (loss) for the period9904 | -€16,794 | -€10,996 | €1,061 | -€5,798 | €2,134 | ▲ 137% |
| Profit (loss) for the period to be appropriated9905 | -€16,794 | -€10,996 | €1,061 | -€5,798 | €2,134 | ▲ 137% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €135,761 | €112,973 | €121,171 | €98,358 | €101,929 | ▲ 3.6% |
| Fixed assets21/28 | €119,198 | €111,560 | €103,923 | €96,285 | €92,296 | ▼ 4.1% |
| Tangible fixed assets22/27 | €119,198 | €111,560 | €103,923 | €96,285 | €92,296 | ▼ 4.1% |
| Land and buildings22 | €119,198 | €111,560 | €103,923 | €96,285 | €89,408 | ▼ 7.1% |
| Furniture and vehicles24 | - | - | - | - | €2,889 | - |
| Current assets29/58 | €16,563 | €1,413 | €17,249 | €2,073 | €9,633 | ▲ 365% |
| Amounts receivable within one year40/41 | €11,089 | €113 | €14,520 | - | €7,260 | - |
| Trade receivables40 | €11,089 | - | €14,520 | - | €7,260 | - |
| Other amounts receivable41 | - | €113 | - | - | - | - |
| Cash at bank and in hand54/58 | €3,335 | €1,300 | €2,729 | €2,073 | €2,213 | ▲ 6.8% |
| Deferred charges and accrued income490/1 | €2,139 | - | - | - | €160 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €135,761 | €112,973 | €121,171 | €98,358 | €101,929 | ▲ 3.6% |
| Equity10/15 | €18,825 | €7,829 | €8,890 | €3,093 | €5,226 | ▲ 69.0% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Capital10 | €6,200 | - | - | - | - | - |
| Issued capital100 | €18,600 | - | - | - | - | - |
| Uncalled capital101 | €12,400 | - | - | - | - | - |
| Reserves13 | €16,517 | €16,517 | €16,517 | €16,517 | €16,517 | = |
| Non-distributable reserves130/1 | €826 | €826 | - | - | - | - |
| Legal reserve130 | €826 | - | - | - | - | - |
| Other1319 | - | €826 | - | - | - | - |
| Distributable reserves133 | €15,691 | €15,691 | €16,517 | €16,517 | €16,517 | = |
| Profit (loss) carried forward14 | -€3,892 | -€14,888 | -€13,827 | -€19,625 | -€17,491 | ▲ 10.9% |
| Amounts payable17/49 | €116,936 | €105,144 | €112,281 | €95,265 | €96,702 | ▲ 1.5% |
| Amounts payable after more than one year17 | €101,885 | €93,619 | €85,818 | €77,869 | €69,770 | ▼ 10.4% |
| Financial debts170/4 | €101,885 | €93,619 | €85,818 | €77,869 | €69,770 | ▼ 10.4% |
| Amounts payable within one year42/48 | €15,050 | €11,525 | €26,463 | €17,396 | €26,932 | ▲ 54.8% |
| Current portion of amounts payable after more than one year42 | €9,490 | €7,937 | €7,801 | €7,949 | €8,099 | ▲ 1.9% |
| Trade debts44 | €2,698 | €204 | €1,226 | €797 | €1,700 | ▲ 113% |
| Suppliers440/4 | €2,698 | €204 | €1,226 | €797 | €1,700 | ▲ 113% |
| Taxes, remuneration and social security45 | €2,778 | - | €3,542 | €1,006 | €2,029 | ▲ 102% |
| Taxes450/3 | €2,778 | - | €3,542 | €1,006 | €2,029 | ▲ 102% |
| Other amounts payable47/48 | €84 | €3,384 | €13,894 | €7,644 | €15,104 | ▲ 97.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€16,794 | -€10,996 | €1,061 | -€5,798 | €2,134 | ▲ 137% |
| + Depreciation and write-downs630 | €7,638 | €7,637 | €7,638 | €7,638 | €6,921 | ▼ 9.4% |
| Operating cash flow (approximation) | -€9,156 | -€3,359 | €8,698 | €1,840 | €9,055 | ▲ 392% |
| Investment in fixed assets (approximation) | - | €1 | €0 | €0 | -€2,932 | - |
| Change in cash | - | -€2,035 | €1,429 | -€656 | €140 | ▲ 121% |
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
19-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 19 days late
2025
31-12
Financial
Back to profitnet €2,134
Net result €2,134 after one loss-making year.
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
20-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 20 days late
2023
31-12
Financial
Back to profitnet €1,061
Net result €1,061 after 3 loss-making years.
19-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 19 days late
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
31-12
Financial
Weakest financial yearnet -€16,794
Net result drops to -€16,794, the lowest in the series; recovery starts the following year.
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 25 days late
2020
31-12
Financial
Liquidity times 6current ratio 1.90
Current ratio from 0.30 to 1.90; short-term debt falls from €137,209 to €19,991.
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 92 days late
2019
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 31 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Kasterlee · 1 establishment unit since 2011
Ground area
1,819 m²
Building footprint
247 m²
Volume, LiDAR
1,308 m³
2 parcels, Flanders · tallest building 8.2 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
ACARAS
since 20112.194.860.372
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13046C0333/00N000 | Flanders | 936 m² | 1 · 121 m² | 8.2 m · 2 fl. |
| 13018B0263/00K000 | Flanders | 882 m² | 1 · 126 m² | 7.5 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 ownerChain of control
- LDB Projects
- ACARAS
Highest known parent: LDB Projects. The sources do not say who stands above it.
Owners 1
- LDB Projectsparent99%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,773. 3,373 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded29-12-2010
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID
0208:0832390652
Registered
26-07-2024
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.