ACKIMMO
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 07-07-2026 at the NBB all 10 filings
Turnover
≈ €91,000
Estimated: probably between €62,000 and €150,000
Total assets
€187,193▲ 1.8%
2024 · €183,919
Net result
€15,671▼ 62.8%
2024 · €42,141
Working capital
€117,711▲ 13.4%
2024 · €103,830
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€20,614
▼ 61.6%
2025
20182025
Net result
€15,671
▼ 62.8%
2025
middle half of the sector
20182025
Equity
€151,482
▲ 3.9%
2025
middle half of the sector
20182025
Total assets
€187,193
▲ 1.8%
2025
middle half of the sector
20182025
Debt
€35,711
▼ 6.3%
2025
20182025
Working capital
€117,711
▲ 13.4%
2025
highest quarter of the sector
20182025
Solvency
80.9%
▲ 1.6pp
2025
highest quarter of the sector
20182025
Current ratio
5.78
▼ 1.36
2025
highest quarter of the sector
20182025
Return on assets (ROA)
8.4%
▼ 14.5pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€2,361-€22,620▲ 858%€33,180▲ 46.7%€38,545▲ 16.2%€19,254▼ 50.0%€13,115▼ 31.9%€53,645▲ 309%€20,614▼ 61.6%
Net result€1,015-€17,351▲ 17×€26,887within the sector's middle half▲ 55.0%€31,151within the sector's middle half▲ 15.9%€15,066within the sector's middle half▼ 51.6%€8,945within the sector's middle half▼ 40.6%€42,141above the sector's middle half▲ 371%€15,671within the sector's middle half▼ 62.8%
Equity€82,401-€99,752▲ 21.1%€58,639within the sector's middle half▼ 41.2%€85,791within the sector's middle half▲ 46.3%€100,857within the sector's middle half▲ 17.6%€109,670within the sector's middle half▲ 8.7%€145,810within the sector's middle half▲ 33.0%€151,482within the sector's middle half▲ 3.9%
Total assets€108,754-€119,393▲ 9.8%€139,585below the sector's middle half▲ 16.9%€98,199below the sector's middle half▼ 29.6%€116,011below the sector's middle half▲ 18.1%€160,364within the sector's middle half▲ 38.2%€183,919within the sector's middle half▲ 14.7%€187,193within the sector's middle half▲ 1.8%
Debt€26,354-€19,641▼ 25.5%€80,946▲ 312%€12,409▼ 84.7%€15,155▲ 22.1%€50,695▲ 235%€38,109▼ 24.8%€35,711▼ 6.3%
Working capital€78,146-€99,371▲ 27.2%€43,416within the sector's middle half▼ 56.3%€72,105within the sector's middle half▲ 66.1%€65,623within the sector's middle half▼ 9.0%€65,554within the sector's middle half▼ 0.1%€103,830within the sector's middle half▲ 58.4%€117,711above the sector's middle half▲ 13.4%
Solvency75.8%-83.5%▲ 7.8pp42.0%within the sector's middle half▼ 41.5pp87.4%above the sector's middle half▲ 45.4pp86.9%above the sector's middle half▼ 0.4pp68.4%above the sector's middle half▼ 18.5pp79.3%above the sector's middle half▲ 10.9pp80.9%above the sector's middle half▲ 1.6pp
Current ratio4.13-6.06▲ 1.931.54within the sector's middle half▼ 4.526.81above the sector's middle half▲ 5.275.33above the sector's middle half▼ 1.484.36above the sector's middle half▼ 0.977.15above the sector's middle half▲ 2.785.78above the sector's middle half▼ 1.36
Return on assets (ROA)0.9%-14.5%▲ 13.6pp19.3%above the sector's middle half▲ 4.7pp31.7%above the sector's middle half▲ 12.5pp13.0%above the sector's middle half▼ 18.7pp5.6%within the sector's middle half▼ 7.4pp22.9%above the sector's middle half▲ 17.3pp8.4%within the sector's middle half▼ 14.5pp
above
within
below
The sector band is the middle half of the companies in Real estate activities (NACE 68). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 62% lower than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €187,193
Fixed assets
€44,874 ▼ 29.0%
Current assets
€142,319 ▲ 17.9%
Equity and liabilities €187,193
Equity
€151,482 ▲ 3.9%
Debt
€35,711 ▼ 6.3%
Debt's share of the balance-sheet total falls from 20.7% to 19.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€40,276▼
2024 · €72,768
Cash flow
€35,334▼
2024 · €61,264
Debt to equity
0.24▼
2024 · 0.26
ROE
10.3%▼
2024 · 28.9%
Interest coverage
82.02▼
2024 · over 100
Debt ≤ 1 year
€24,609▲
2024 · €16,892
Debt > 1 year
€11,103▼
2024 · €21,217
Income taxes
€5,899▼
2024 · €11,315
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €25,436 | €60,727 | €7,000 | €1,338 |
| Financial fixed assets | - | - | - | - | €0 |
| Depreciation and write-downs of the year | €1,538 | €3,887 | €18,090 | €19,123 | €19,662 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,255 | €5,255 | €535 | €1,538 | €3,887 | €18,090 | €19,123 | €19,662 | ▲ 2.8% |
| Other operating charges640/8 | - | - | - | €1,048 | €1,348 | €658 | €754 | €374 | ▼ 50.4% |
| Non-recurring operating charges66A | - | - | - | - | - | €2,095 | €0 | - | - |
| Gross operating margin9900 | €8,715 | €28,993 | €34,525 | €41,130 | €24,489 | €33,958 | €73,522 | €40,651 | ▼ 44.7% |
| Operating profit (loss)9901 | €2,361 | €22,620 | €33,180 | €38,545 | €19,254 | €13,115 | €53,645 | €20,614 | ▼ 61.6% |
| Financial income75/76B | - | - | - | €727 | €327 | €681 | €460 | €1,447 | ▲ 215% |
| Recurring financial income75 | €71 | €147 | €908 | €727 | €327 | €681 | €460 | €1,447 | ▲ 215% |
| Financial charges65/66B | - | - | - | €474 | €110 | €1,036 | €650 | €491 | ▼ 24.4% |
| Recurring financial charges65 | €321 | €197 | €208 | €474 | €110 | €1,036 | €650 | €491 | ▼ 24.4% |
| Profit (loss) for the period before taxes9903 | €2,110 | €22,570 | €33,879 | €38,798 | €19,471 | €12,760 | €53,455 | €21,570 | ▼ 59.6% |
| Income taxes67/77 | €1,095 | €5,219 | €6,992 | €7,646 | €4,405 | €3,815 | €11,315 | €5,899 | ▼ 47.9% |
| Profit (loss) for the period9904 | €1,015 | €17,351 | €26,887 | €31,151 | €15,066 | €8,945 | €42,141 | €15,671 | ▼ 62.8% |
| Profit (loss) for the period to be appropriated9905 | €1,015 | €17,351 | €26,887 | €31,151 | €15,066 | €8,945 | €42,141 | €15,671 | ▼ 62.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €108,754 | €119,393 | €139,585 | €98,199 | €116,011 | €160,364 | €183,919 | €187,193 | ▲ 1.8% |
| Fixed assets21/28 | €5,635 | €380 | €15,223 | €13,685 | €35,234 | €75,321 | €63,198 | €44,874 | ▼ 29.0% |
| Tangible fixed assets22/27 | €5,635 | €380 | €15,223 | €13,685 | €35,234 | €75,321 | €63,198 | €44,874 | ▼ 29.0% |
| Land and buildings22 | - | - | - | €9,136 | €8,111 | €7,086 | €12,873 | €11,148 | ▼ 13.4% |
| Plant, machinery and equipment23 | - | - | - | - | €2,776 | €5,291 | €4,031 | €4,081 | ▲ 1.2% |
| Furniture and vehicles24 | - | - | - | €4,549 | €24,347 | €62,944 | €46,294 | €29,645 | ▼ 36.0% |
| Current assets29/58 | €103,119 | €119,012 | €124,362 | €84,514 | €80,778 | €85,043 | €120,722 | €142,319 | ▲ 17.9% |
| Amounts receivable within one year40/41 | €16,271 | €30,875 | €12,711 | €22,957 | €38,561 | €28,897 | €36,435 | €44,310 | ▲ 21.6% |
| Trade receivables40 | - | - | - | €21,026 | €34,447 | €15,962 | €9,508 | €11,213 | ▲ 17.9% |
| Other amounts receivable41 | - | - | - | €1,931 | €4,114 | €12,935 | €26,927 | €33,097 | ▲ 22.9% |
| Current investments50/53 | €18,792 | - | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €67,541 | €87,753 | €111,406 | €61,557 | €41,575 | €51,756 | €78,121 | €94,056 | ▲ 20.4% |
| Deferred charges and accrued income490/1 | - | - | - | €0 | €642 | €4,391 | €6,166 | €3,954 | ▼ 35.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €108,754 | €119,393 | €139,585 | €98,199 | €116,011 | €160,364 | €183,919 | €187,193 | ▲ 1.8% |
| Equity10/15 | €82,401 | €99,752 | €58,639 | €85,791 | €100,857 | €109,670 | €145,810 | €151,482 | ▲ 3.9% |
| Contributions10/11 | €12,400 | €12,400 | - | €14,260 | €14,260 | €14,260 | €14,260 | €14,260 | = |
| Reserves13 | €1,860 | €1,860 | - | - | - | - | - | - | - |
| Profit (loss) carried forward14 | €68,141 | €85,492 | €44,379 | €71,531 | €86,597 | €95,410 | €131,550 | €137,222 | ▲ 4.3% |
| Amounts payable17/49 | €26,354 | €19,641 | €80,946 | €12,409 | €15,155 | €50,695 | €38,109 | €35,711 | ▼ 6.3% |
| Amounts payable after more than one year17 | €1,380 | - | - | - | - | €31,205 | €21,217 | €11,103 | ▼ 47.7% |
| Financial debts170/4 | - | - | - | - | - | €31,205 | €21,217 | €11,103 | ▼ 47.7% |
| Amounts payable within one year42/48 | €24,974 | €19,641 | €80,946 | €12,409 | €15,155 | €19,489 | €16,892 | €24,609 | ▲ 45.7% |
| Financial debts43 | - | - | - | - | - | €10,704 | €9,988 | €10,115 | ▲ 1.3% |
| Credit institutions430/8 | - | - | - | - | - | €10,704 | €9,988 | €10,115 | ▲ 1.3% |
| Trade debts44 | €2,898 | €4,319 | €14,861 | €3,483 | €1,377 | €634 | €590 | €0 | ▼ 100% |
| Suppliers440/4 | - | - | - | €3,483 | €1,377 | €634 | €590 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | - | €4,761 | €13,563 | €7,588 | €5,750 | €12,980 | ▲ 126% |
| Taxes450/3 | - | - | - | €2,486 | €5,613 | €4,838 | €3,000 | €10,230 | ▲ 241% |
| Remuneration and social security454/9 | - | - | - | €2,275 | €7,950 | €2,750 | €2,750 | €2,750 | = |
| Other amounts payable47/48 | - | - | - | €4,165 | €215 | €564 | €564 | €1,514 | ▲ 168% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,015 | €17,351 | €26,887 | €31,151 | €15,066 | €8,945 | €42,141 | €15,671 | ▼ 62.8% |
| + Depreciation and write-downs630 | €5,255 | €5,255 | €535 | €1,538 | €3,887 | €18,090 | €19,123 | €19,662 | ▲ 2.8% |
| Operating cash flow (approximation) | €6,270 | €22,606 | €27,422 | €32,689 | €18,953 | €27,035 | €61,264 | €35,334 | ▼ 42.3% |
| Investment in fixed assets (approximation) | - | €0 | -€15,377 | €0 | -€25,436 | -€58,177 | -€7,000 | -€1,338 | ▲ 80.9% |
| Change in cash | - | €20,212 | €23,653 | -€49,849 | -€19,982 | €10,181 | €26,365 | €15,935 | ▼ 39.6% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 34,693 companies had the same profile as ACKIMMO has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of ACKIMMO itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 34,693 companies, not a prediction for ACKIMMO. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (10)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 07-07-2026 | 2026-00261094 | |
| 31-12-2024 | micro format | 21-07-2025 | 2025-00293839 | |
| 31-12-2023 | micro format | 17-06-2024 | 2024-00132360 | |
| 31-12-2022 | micro format | 21-06-2023 | 2023-00142316 | |
| 31-12-2021 | micro format | 27-06-2022 | 2022-20146153 | |
| 31-12-2020 | micro format | 30-07-2021 | 2021-43300037 | |
| 31-12-2019 | micro format | 31-07-2020 | 2020-37400278 | |
| 31-12-2018 | micro format | 30-07-2019 | 2019-41200228 | |
| 31-12-2017 | micro format | 25-07-2018 | 2018-37500269 | |
| 31-12-2016 | abbreviated format | 07-07-2017 | 2017-28900314 |