Checked.be
Active
BE 0757.571.186Private limited company
ACESO
Walle(Kor) 86 ·8500 Kortrijk, Belgium· 5 yrs active
Sector: Physiotherapy
(86951)
Conclusion
ACESO has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €53k and a net result of €47k. Equity is growing by ~29.2% per year across the filed fiscal years. Its solvency ranks better than 76% of 2224 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €53k |
| Net result | €47k |
| Better than sector | 76% |
| Active | 5 yrs |
Financial profile
94
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
98
Profitability
100
Solvency
100
Growth
78
Stability
94
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
More than 3 years active
Founded in 2020, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
98
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€5k
estimate, not credit advice
Score history
75
2021
93
2022
100
2023
100
2024
98
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 5.72 (≥ 1.5)
+10
Quick ratio
Quick ratio 5.72 (≥ 1.0)
+5
Leverage
Debt/equity 0.20 (< 1.0)
+10
Profitability
ROE 89% (≥ 10%)
+10
Interest coverage
Interest coverage 29.1× (≥ 3×)
+8
Profit trend
Net profit up YoY
+5
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 02-04-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~29.2%/year over 5 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 86, Human health activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 83.3% | 57.9% | |
| Net result | €47k | €59k | |
| Equity | €53k | €74k | |
| Gross operating margin | €62k | €95k | |
| Total assets | €64k | €187k |
€61k
-0.5%
21-25
€47k
+4.5%
21-25
€48k
+5.4%
21-25
€64k
-29.1%
21-25
€53k
-17.0%
21-25
€50k
-21.0%
21-25
€11k
-12.2%
21-25
€51k
+70.0%
21-25
€11k
-58.9%
21-25
€11k
-59.1%
21-25
5.72
+66.1%
21-25
5.72
+66.1%
21-25
83.3%
+17.0%
21-25
0.20
-50.5%
21-25
89.1%
+26.0%
21-25
74.2%
+47.3%
21-25
29.07
+56.2%
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - | - |
| EBITDA | €61k | €61k | €21k | €28k | €36k |
| Net profit | €47k | €45k | €14k | €14k | €20k |
| Cash flow | €48k | €45k | €15k | €22k | €28k |
| Staff costs | - | - | - | - | - |
| Income taxes | €11k | €13k | €5k | €4k | €6k |
| Dividends | €51k | €30k | - | - | - |
| Total assets | €64k | €90k | €65k | €47k | €32k |
| Equity | €53k | €64k | €49k | €34k | €20k |
| Debt | €11k | €26k | €17k | €13k | €12k |
| of which ≤ 1y | €11k | €26k | €17k | €13k | €12k |
| of which > 1y | - | - | - | - | - |
| Working capital | €50k | €63k | €49k | €34k | €12k |
| Employees (FTE) | - | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 5.72 | 3.44 | 3.92 | 3.54 | 2.00 |
| Quick ratio | 5.72 | 3.44 | 3.92 | 3.54 | 2.00 |
| Working capital ratio | 78.0% | 70.1% | 74.5% | 70.6% | 37.0% |
| Solvency | 83.3% | 71.2% | 74.4% | 72.1% | 62.6% |
| Debt / equity | 0.20 | 0.40 | 0.34 | 0.39 | - |
| Long-term debt ratio | - | - | - | - | - |
| Interest coverage | 29.07 | 18.61 | 11.61 | 16.66 | - |
| Gross margin | - | - | - | - | - |
| Net margin | - | - | - | - | - |
| ROA | 74.2% | 50.4% | 22.1% | 29.8% | 62.5% |
| ROE | 89.1% | 70.7% | 29.7% | 41.4% | 99.9% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (22 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €64k | €90k | €65k | €47k | €32k |
| Fixed assets | 21/28 | €3k | €1k | - | €765 | €8k |
| Tangible fixed assets | 22/27 | €3k | €1k | - | €765 | €8k |
| Current assets | 29/58 | €60k | €88k | €65k | €47k | €24k |
| Amounts receivable within one year | 40/41 | €14k | €13k | €10k | €9k | €7k |
| Cash & bank | 54/58 | €44k | €74k | €54k | €36k | €16k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €64k | €90k | €65k | €47k | €32k |
| Equity | 10/15 | €53k | €64k | €49k | €34k | €20k |
| Contributions / capital | 10/11 | €30 | €30 | €30 | €30 | - |
| Reserves | 13 | €53k | €64k | €49k | €34k | €20k |
| Accumulated profits (losses) | 14 | €0 | €0 | - | - | - |
| Amounts payable | 17/49 | €11k | €26k | €17k | €13k | €12k |
| Amounts payable within one year | 42/48 | €11k | €26k | €17k | €13k | €12k |
| Trade debts payable within one year | 44 | €2k | €2k | €3k | €1k | €2k |
| Income statement | ||||||
| Gross operating margin | 9900 | €62k | €62k | €43k | €28k | €36k |
| Operating result | 9901 | €60k | €61k | €21k | €20k | €27k |
| Financial income | 75 | €44 | €22 | €137 | €1 | €1 |
| Financial charges | 65 | €2k | €3k | €2k | €2k | €1k |
| Result before taxes | 9903 | €58k | €58k | €19k | €19k | €26k |
| Income taxes | 67/77 | €11k | €13k | €5k | €4k | €6k |
| Net result for the period | 9904 | €47k | €45k | €14k | €14k | €20k |
| Result to be appropriated | 9905 | €47k | €45k | €14k | €14k | €20k |
Legal Structure
| NACE primary | Physiotherapy(86951) |
| Legal form | Private limited company(610) |
| Incorporation | 28-10-2020 |
| Status | Active |
| Postal code | 8500 |
Establishment units
ACESO
since 20202.311.461.104
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34022E0340/00V003 | Flanders | 312 m² | 1 · 111 m² | 10.8 m · 2 fl. |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
02-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
Financial
Highest result since 2021net €47k ▲4.5%
Net result €47k, the highest in the series.
10-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
01-03
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
06-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Weakest financial yearnet €14k ▼29.3%
Net result drops to €14k, the lowest in the series; recovery starts the following year.
29-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Human health activities86905Physiotherapy86951Human health activities86906Nursing and midwifery86940
Names & trade names
| Legal nameNL | ACESO |
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