ACAZA

Active

Public limited companyfounded 201016 yrs activeIndustrielaan(Heu) 4, 8501 Kortrijk, BelgiumKBO/BCE: BE 0823.850.692

ACAZA has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.62M and a net result of €686k. Equity is growing by ~17.7% per year across the filed fiscal years. Its solvency ranks better than 64% of 10230 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).

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Checked score

Score 2025

90 / 100

Excellent▲ +4 vs 2024

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability100=

Solvency94▲+13

Growth78=

Stability100

Bankruptcy probability, 12 months

0.6% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €240k at 30 days acceptable

Liquidity ample (current ratio 1.94 against 1.65 in 2024), and 49.1% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Eight signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 47

Relative position

BE, all sectors

reference

Sector 47

higher

← fewer bankruptcies more bankruptcies →

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

50.9%

Return on assets

13.3%

Age of the figures

8 mo

Multiple establishment units

Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.

KBO · establishment units

Lower-risk legal form

Companies with this legal form statistically fail less often than a BV.

KBO · legal form

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 17-04-2026, 105 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

105 d early

2024

28 d early

2023

22 d early

2023

43 d early

2022

56 d early

2021

2 d early

2020

32 d early

← before the deadline after the deadline →

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 months

Position in the running window

13-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, abbreviated schema

Equity

€2.62M▼ 10.7%

2024 · €2.93M

2019: €620k 2020: €860k 2021: €1.62M 2022: €2.47M 2023: €1.98M 2023: €2.91M 2024: €2.93M

2019 → 2025

Total assets

€5.15M▼ 23.0%

2024 · €6.68M

2019: €2.25M 2020: €2.36M 2021: €3.22M 2022: €4.34M 2023: €4.97M 2023: €5.51M 2024: €6.68M

2019 → 2025

Net result

€686k▼ 51.7%

2024 · €1.42M

2019: €123k 2020: €330k 2021: €758k 2022: €981k 2023: €1.35M 2023: €1.55M 2024: €1.42M

2019 → 2025

Working capital

€2.29M▼ 5.2%

2024 · €2.42M

2019: €196k 2020: €401k 2021: €1.07M 2022: €1.87M 2023: €1.39M 2023: €2.43M 2024: €2.42M

2019 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20222023202320242025Trend

Equity€2.47M-€1.98M▼ 19.8%€2.91M▲ 46.8%€2.93M▲ 0.7%€2.62M▼ 10.7%

Operating result€1.22M-€1.81M▲ 48.2%€2.00M▲ 11.0%€1.78M▼ 11.1%€870k▼ 51.2%

Net result€981k-€1.35M▲ 37.6%€1.55M▲ 15.1%€1.42M▼ 8.6%€686k▼ 51.7%

Turnover and EBIT margin not published: the abbreviated schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result has fallen two years in a row; 2025 is 51% below 2024 and is the lowest year so far.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €5.15M

91.7%

Fixed assets €428k▼ 21.4%

Current assets €4.72M▼ 23.1%

Equity and liabilities €5.15M

50.9%

49.1%

Equity €2.62M▼ 10.7%

Debt €2.53M▼ 32.6%

The debt ratio falls from 56.1% to 49.1%: debt falls faster than equity shrinks.

Key figures and ratios

2025 value · change against 2024

EBITDA

€1.10M▼

2024 · €2.01M

Cash flow

€916k▼

2024 · €1.65M

Solvency

50.9%▲

2024 · 43.9%

Current ratio

1.94▲

2024 · 1.65

Quick ratio

1.19▲

2024 · 1.02

Debt / equity

0.96▼

2024 · 1.28

ROE

26.2%▼

2024 · 48.4%

ROA

13.3%▼

2024 · 21.3%

Interest coverage

73.33▼

2024 · 114.03

Debt

€2.53M▼

2024 · €3.75M

Debt ≤ 1 year

€2.43M▼

2024 · €3.72M

Debt > 1 year

€100k

Income taxes

€239k▼

2024 · €481k

Staff costs

€1.31M▲

2024 · €1.18M

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€6.68M€5.15M▼

Fixed assets21/28€544k€428k▼

Intangible fixed assets21€330k€263k▼

Tangible fixed assets22/27€207k€162k▼

Land and buildings22€18k€15k▼

Plant, machinery and equipment23€37k€32k▼

Furniture and vehicles24€151k€115k▼

Financial fixed assets28€7k€2k▼

Current assets29/58€6.14M€4.72M▼

Stocks and contracts in progress3€2.35M€1.82M▼

Stocks30/36€2.35M€1.82M▼

Amounts receivable within one year40/41€1.22M€862k▼

Trade receivables40€1.11M€750k▼

Other amounts receivable41€105k€112k▲

Current investments50/53€1.81M€14k▼

Cash at bank and in hand54/58€717k€1.95M▲

Deferred charges and accrued income490/1€43k€67k▲

Equity and liabilities

Total equity and liabilities10/49€6.68M€5.15M▼

Equity10/15€2.93M€2.62M▼

Contributions10/11€257k€257k=

Capital10€257k€257k=

Issued capital100€257k€257k=

Reserves13€2.68M€2.36M▼

Non-distributable reserves130/1€27k€27k=

Legal reserve130€27k€27k=

Distributable reserves133€2.65M€2.34M▼

Amounts payable17/49€3.75M€2.53M▼

Amounts payable after more than one year17-€100k

Financial debts170/4-€100k

Amounts payable within one year42/48€3.72M€2.43M▼

Current portion of amounts payable after more than one year42€217k€148k▼

Trade debts44€407k€148k▼

Suppliers440/4€407k€148k▼

Advances received on contracts in progress46€499k€269k▼

Taxes, remuneration and social security45€1.20M€861k▼

Taxes450/3€1.07M€671k▼

Remuneration and social security454/9€131k€190k▲

Other amounts payable47/48€1.40M€1.00M▼

Accrued charges and deferred income492/3€28k-

Income statement Code20242025

Remuneration, social security and pensions62€1.18M€1.31M▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€226k€229k▲

Other operating charges640/8€25k€22k▼

Non-recurring operating charges66A-€23k

Gross operating margin9900€3.21M€2.45M▼

Operating profit (loss)9901€1.78M€870k▼

Financial income75/76B€137k€71k▼

Recurring financial income75€137k€71k▼

Financial charges65/66B€18k€15k▼

Recurring financial charges65€18k€15k▼

Profit (loss) for the period before taxes9903€1.90M€925k▼

Income taxes67/77€481k€239k▼

Profit (loss) for the period9904€1.42M€686k▼

Profit (loss) for the period to be appropriated9905€1.42M€686k▼

Appropriation of the result

Profit (loss) to be appropriated9906€1.42M€686k▼

Transfer from equity791/2-€314k

Transfer to equity691/2€20k-

To other reserves6921€20k-

Profit to be distributed694/7€1.40M€1.00M▼

Return on contributions (dividend)694€1.40M€1.00M▼

Social balance

Average headcount (FTE)908722.725.9▲

The notes to these accounts (13 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 14Financial 4Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

17-04

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema

2025

03-07

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

2024

09-07

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema

2023

31-12

Financial Highest result since 2019net €1.55M ▲15.1%

Operating result €2.00M, net result €1.55M, both a record.

31-12

Financial Equity above €2MEq €2.91M ▲46.8%

6 profitable years in a row build equity to €2.91M.

18-09

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema

2022

05-09

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema

31-03

Financial Equity above €2MEq €2.47M ▲52.9%

4 profitable years in a row build equity to €2.47M.

2021

29-10

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema

31-03

Financial Equity above €1MEq €1.62M ▲88.2%

3 profitable years in a row build equity to €1.62M.

2020

29-09

NBB filing Annual accounts filed

fiscal year 2020 · abbreviated schema

2019

11-10

NBB filing Annual accounts filed

fiscal year 2019 · abbreviated schema

2018

31-10

NBB filing Annual accounts filed

fiscal year 2018 · abbreviated schema

2017

08-06

NBB filing Annual accounts filed

fiscal year 2017 · abbreviated schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

11 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, Kortrijk · 2 establishment units since 2010

establishment All 2 establishment units on the map

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.

Industrielaan(Heu) 48501 Kortrijk

Ground area

4.6 ha

Building footprint

3.1 ha

Volume, LiDAR

275,574 m³