ACIKO
ActiveSummary
ACIKO has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €842,746 and a net result of €43,570. Equity is growing by ~9.1% per year across the filed fiscal years. Its solvency ranks better than 89% of 8281 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability74▼-10
Solvency100=
Growth49▼-17
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €70,000 at 30 days acceptable
Liquidity ample (current ratio 7.16 against 9.38 in 2024; short-term debt: 13.9% and cash: 75.7% of total assets), and 13.9% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
86.1%
Return on assets
4.5%
Age of the figures
9 mo
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 02-07-2026, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
29 d early
2024
31 d early
2023
30 d early
2022
45 d early
2021
38 d early
2020
12 d early
2019
22 d early
← 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 30 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% 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. Usually files around 30 June (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#3 company by equity in Braives, Wholesale and retail trade sector#6 company by total assets in Braives, Wholesale and retail trade sector#9 oldest company in Braives, Wholesale and retail trade sector
Turnover
€750,893▲ 44.8%
2021 · €518,511
EBIT margin
14.8%▲ 2.8pp
2021 · 12.0%
Net result
€43,570▼ 63.1%
2024 · €118,056
Working capital
€837,076▼ 0.3%
2024 · €839,833
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€518,511▲ 44.7%€750,893▲ 44.8%
Operating result€62,175€111,361▲ 79.1%€246,746▲ 122%€148,269▼ 39.9%€60,480▼ 59.2%
Net result€26,607within the sector's middle half€88,914within the sector's middle half▲ 234%€190,929within the sector's middle half▲ 115%€118,056within the sector's middle half▼ 38.2%€43,570within the sector's middle half▼ 63.1%
EBIT margin12.0%▲ 12.1pp14.8%▲ 2.8pp
Equity€542,477within the sector's middle half▲ 5.2%€631,391within the sector's middle half▲ 16.4%€822,320within the sector's middle half▲ 30.2%€847,176within the sector's middle half▲ 3.0%€842,746within the sector's middle half▼ 0.5%
Total assets€651,501below the sector's middle half▼ 0.5%€718,297below the sector's middle half▲ 10.3%€926,082below the sector's middle half▲ 28.9%€947,358below the sector's middle half▲ 2.3%€978,580within the sector's middle half▲ 3.3%
Debt€109,024▼ 21.7%€86,906▼ 20.3%€103,762▲ 19.4%€100,182▼ 3.5%€135,834▲ 35.6%
Working capital€527,378within the sector's middle half▲ 5.4%€619,364within the sector's middle half▲ 17.4%€812,691within the sector's middle half▲ 31.2%€839,833within the sector's middle half▲ 3.3%€837,076above the sector's middle half▼ 0.3%
Solvency83.3%above the sector's middle half▲ 4.5pp87.9%above the sector's middle half▲ 4.6pp88.8%above the sector's middle half▲ 0.9pp89.4%above the sector's middle half▲ 0.6pp86.1%above the sector's middle half▼ 3.3pp
Current ratio5.84above the sector's middle half▲ 1.248.13above the sector's middle half▲ 2.298.83above the sector's middle half▲ 0.719.38above the sector's middle half▲ 0.557.16above the sector's middle half▼ 2.22
Return on assets (ROA)4.1%within the sector's middle half▲ 4.3pp12.4%above the sector's middle half▲ 8.3pp20.6%above the sector's middle half▲ 8.2pp12.5%above the sector's middle half▼ 8.2pp4.5%within the sector's middle half▼ 8.0pp
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 59% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €978,580
Fixed assets
€5,670 ▼ 22.8%
Current assets
€972,910 ▲ 3.5%
Equity and liabilities €978,580
Equity
€842,746 ▼ 0.5%
Debt
€135,834 ▲ 35.6%
Debt's share of the balance-sheet total rises from 10.6% to 13.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€62,153▼
2024 · €150,555
Cash flow
€45,243▼
2024 · €120,342
Quick ratio
7.01▼
2024 · 9.21
Debt to equity
0.16▲
2024 · 0.12
ROE
5.2%▼
2024 · 13.9%
Interest coverage
15.05▼
2024 · 51.90
Debt ≤ 1 year
€135,834▲
2024 · €100,182
Income taxes
€18,743▼
2024 · €37,675
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,732 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 14,732 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €518,511 | €750,893 | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €452,342 | €635,430 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,615 | €3,072 | €2,398 | €2,286 | €1,673 | ▼ 26.8% |
| Other operating charges640/8 | €1,379 | €1,030 | €5,509 | €3,537 | €4,470 | ▲ 26.4% |
| Gross operating margin9900 | €66,169 | €115,463 | €254,653 | €154,092 | €66,623 | ▼ 56.8% |
| Operating profit (loss)9901 | €62,175 | €111,361 | €246,746 | €148,269 | €60,480 | ▼ 59.2% |
| Financial income75/76B | €3,464 | €11,315 | €9,642 | €10,363 | €5,963 | ▼ 42.5% |
| Recurring financial income75 | €3,464 | €11,315 | €9,642 | €10,363 | €5,963 | ▼ 42.5% |
| Financial charges65/66B | €764 | €1,200 | €1,731 | €2,901 | €4,130 | ▲ 42.4% |
| Recurring financial charges65 | €764 | €1,200 | €1,731 | €2,901 | €4,130 | ▲ 42.4% |
| Profit (loss) for the period before taxes9903 | €64,875 | €121,476 | €254,657 | €155,731 | €62,313 | ▼ 60.0% |
| Income taxes67/77 | €38,268 | €32,562 | €63,728 | €37,675 | €18,743 | ▼ 50.3% |
| Profit (loss) for the period9904 | €26,607 | €88,914 | €190,929 | €118,056 | €43,570 | ▼ 63.1% |
| Transfer from tax-exempt reserves789 | €52,700 | €35,600 | €31,328 | - | €98,935 | - |
| Transfer to tax-exempt reserves689 | - | €63,150 | €35,785 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €79,307 | €61,364 | €186,472 | €118,056 | €142,505 | ▲ 20.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €651,501 | €718,297 | €926,082 | €947,358 | €978,580 | ▲ 3.3% |
| Fixed assets21/28 | €15,099 | €12,027 | €9,629 | €7,343 | €5,670 | ▼ 22.8% |
| Tangible fixed assets22/27 | €15,049 | €11,977 | €9,579 | €7,293 | €5,620 | ▼ 22.9% |
| Land and buildings22 | €8,796 | €7,643 | €6,490 | €5,337 | €4,184 | ▼ 21.6% |
| Plant, machinery and equipment23 | €2,929 | €2,384 | €1,986 | €1,589 | €1,192 | ▼ 25.0% |
| Furniture and vehicles24 | €3,324 | €1,950 | €1,103 | €367 | €244 | ▼ 33.5% |
| Financial fixed assets28 | €50 | €50 | €50 | €50 | €50 | = |
| Current assets29/58 | €636,402 | €706,270 | €916,453 | €940,015 | €972,910 | ▲ 3.5% |
| Stocks and contracts in progress3 | €26,063 | €31,661 | €17,054 | €17,054 | €20,464 | ▲ 20.0% |
| Stocks30/36 | €26,063 | €31,661 | €17,054 | €17,054 | €20,464 | ▲ 20.0% |
| Amounts receivable within one year40/41 | €226,367 | €129,346 | €467,633 | €282,221 | €211,986 | ▼ 24.9% |
| Trade receivables40 | €157,166 | €67,677 | €252,824 | €185,126 | €66,416 | ▼ 64.1% |
| Other amounts receivable41 | €69,201 | €61,669 | €214,809 | €97,095 | €145,570 | ▲ 49.9% |
| Cash at bank and in hand54/58 | €383,972 | €545,263 | €431,482 | €640,240 | €740,460 | ▲ 15.7% |
| Deferred charges and accrued income490/1 | - | - | €284 | €500 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €651,501 | €718,297 | €926,082 | €947,358 | €978,580 | ▲ 3.3% |
| Equity10/15 | €542,477 | €631,391 | €822,320 | €847,176 | €842,746 | ▼ 0.5% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Capital10 | €20,000 | - | - | - | - | - |
| Issued capital100 | €20,000 | - | - | - | - | - |
| Reserves13 | €289,328 | €378,178 | €413,963 | €430,763 | €382,763 | ▼ 11.1% |
| Non-distributable reserves130/1 | €2,000 | €2,000 | €2,000 | €2,000 | - | - |
| Legal reserve130 | €2,000 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | €2,000 | €2,000 | €2,000 | - | - |
| Tax-exempt reserves132 | €66,928 | €94,478 | €98,935 | €98,935 | - | - |
| Distributable reserves133 | €220,400 | €281,700 | €313,028 | €329,828 | €382,763 | ▲ 16.0% |
| Profit (loss) carried forward14 | €233,149 | €233,213 | €388,357 | €396,413 | €439,983 | ▲ 11.0% |
| Amounts payable17/49 | €109,024 | €86,906 | €103,762 | €100,182 | €135,834 | ▲ 35.6% |
| Amounts payable within one year42/48 | €109,024 | €86,906 | €103,762 | €100,182 | €135,834 | ▲ 35.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €10,036 | €10,065 | ▲ 0.3% |
| Trade debts44 | €80,038 | €31,929 | €47,404 | €62,925 | €74,755 | ▲ 18.8% |
| Suppliers440/4 | €80,038 | €31,929 | €47,404 | €62,925 | €74,755 | ▲ 18.8% |
| Taxes, remuneration and social security45 | €28,986 | €54,977 | €47,858 | €27,221 | €3,014 | ▼ 88.9% |
| Taxes450/3 | €24,065 | €54,575 | €47,487 | €26,850 | €2,527 | ▼ 90.6% |
| Remuneration and social security454/9 | €4,921 | €402 | €371 | €371 | €487 | ▲ 31.3% |
| Other amounts payable47/48 | - | - | €8,500 | - | €48,000 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €26,607 | €88,914 | €190,929 | €118,056 | €43,570 | ▼ 63.1% |
| + Depreciation and write-downs630 | €2,615 | €3,072 | €2,398 | €2,286 | €1,673 | ▼ 26.8% |
| Operating cash flow (approximation) | €29,222 | €91,986 | €193,327 | €120,342 | €45,243 | ▼ 62.4% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €161,291 | -€113,781 | €208,758 | €100,220 | ▼ 52.0% |
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
04-08
State Gazette act
Resignation: Marcel LAMBERT (director)Appointments: M. MICIUK INVEST SRL, FT INVEST SRL and DDB INVEST SRL · Permanent representatives: Marie MICIUK, Florian THONUS and Kevin GLOIRE · Power of attorney10 facts ▸
State Gazette act
Resignation: Marcel LAMBERT (director)
Appointments: M. MICIUK INVEST SRL, FT INVEST SRL and DDB INVEST SRL · Permanent representatives: Marie MICIUK, Florian THONUS and Kevin GLOIRE · Power of attorney10 facts ▸
- General meeting, assemblée générale extraordinaires, unanimity
- Director resignation, Marcel LAMBERT (director)
- Director appointment, M. MICIUK INVEST SRL (director)
- Permanent representative, Marie MICIUK (permanent representative)
- Director appointment, FT INVEST SRL (director)
- Permanent representative, Florian THONUS (permanent representative)
- Director appointment, DDB INVEST SRL (director)
- Permanent representative, Kevin GLOIRE (permanent representative)
- Power of attorney, THG ST.VITH AG
- Power of attorney, Anja HEYEN
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Highest result since 2018net €190,929 ▲115%
Operating result €246,746, net result €190,929, both a record.
16-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
23-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Back to profitnet €26,607
Net result €26,607 after one loss-making year.
19-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Weakest financial yearnet -€1,389
Net result drops to -€1,389, the lowest in the series; recovery starts the following year.
09-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
20-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 20 days late
2018
26-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
12-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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Directors · office · real estate
Directors
under verification, last change in 2026
This board is reconstructed from a single act (26100220). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
Board 3
DDB INVEST
CurrentDirector · since 09-07-2026 · Private limited company · perm. rep.: Kevin GLOIRE
FT INVEST
CurrentDirector · since 09-07-2026 · Private limited company · perm. rep.: Florian THONUS
M. MICIUK INVEST
CurrentDirector · since 09-07-2026 · Private limited company · perm. rep.: Marie MICIUK
Permanent representatives 3
Florian THONUS
CurrentPermanent representative · since 09-07-2026 · for FT INVEST
Kevin GLOIRE
CurrentPermanent representative · since 09-07-2026 · for DDB INVEST
Marie MICIUK
CurrentPermanent representative · since 09-07-2026 · for M. MICIUK INVEST
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
3 of this company's 4 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Braives · 1 establishment unit since 2006
Ground area
5,598 m²
Building footprint
441 m²
Volume, LiDAR
4,086 m³
2 parcels, Wallonia · tallest building 14.2 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
ACIKO
since 20062.152.964.191
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 64004A0547/00R000 | Wallonia | 2,952 m² | 1 · 165 m² | 8.6 m · 2 fl. |
| 92021E0018/00D000 | Wallonia | 2,646 m² | 1 · 277 m² | 14.2 m · 4 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.
Mandate history
4 people since 2026, 3 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| DDB INVEST |
|
| FT INVEST |
|
| M. MICIUK INVEST |
|
| Marcel LAMBERT |
|
Structure & network
Connections & network
3 current directorsThe group is listed under Ownership & control below; here you explore it as a network.
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Shareholding
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Company details
Identification
Legal formPrivate limited company
Founded10-04-2006
Fiscal year end31-12
Activities, NACEBEL 2025
46630Wholesale trade
Contact
Phone
081/20.78.70Namur
E-invoicing
Reachable via Peppol
Peppol ID
0208:0880610837
Also
9925:BE0880610837
Registered
16-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.