ACMG
ActiveSummary
ACMG has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €739,600 and a net result of €319,351. Equity remains stable across the filed fiscal years (±0% per year). Its solvency ranks better than 61% of 2028 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability99▲+4
Solvency81▲+10
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60,000 at 30 days acceptable
Liquidity tight (current ratio 1.17 against 1.75 in 2024; short-term debt: 43.3% and cash: 20.7% of total assets), and 43.9% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
56.1%
Return on assets
24.2%
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
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €739,600
neutral · A punctual record breaks
This company filed 5 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
27 d late
2024
3 d early
2023
12 d early
2022
17 d early
2021
2 d early
2020
1 d early
2019
61 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 8 days after the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% 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, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€319,351▲ 62.7%
2024 · €196,277
Working capital
€97,016▼ 73.0%
2024 · €359,151
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, 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
Operating result€57,651▼ 49.6%€92,557▲ 60.5%€78,783▼ 14.9%€283,175▲ 259%€443,492▲ 56.6%
Net result€41,051within the sector's middle half▼ 50.7%€74,567within the sector's middle half▲ 81.6%€54,616within the sector's middle half▼ 26.8%€196,277above the sector's middle half▲ 259%€319,351above the sector's middle half▲ 62.7%
Equity€223,959within the sector's middle half=€223,966within the sector's middle half=€223,972within the sector's middle half=€420,249within the sector's middle half▲ 87.6%€739,600above the sector's middle half▲ 76.0%
Total assets€787,089within the sector's middle half▲ 11.3%€902,996within the sector's middle half▲ 14.7%€1.2mwithin the sector's middle half▲ 28.7%€917,626within the sector's middle half▼ 21.0%€1.3mwithin the sector's middle half▲ 43.8%
Debt€563,130▲ 16.6%€679,030▲ 20.6%€937,954▲ 38.1%€497,377▼ 47.0%€579,818▲ 16.6%
Working capital€201,248▼ 4.0%€181,823▼ 9.7%€163,678▼ 10.0%€359,151▲ 119%€97,016▼ 73.0%
Solvency28.5%within the sector's middle half▼ 3.2pp24.8%within the sector's middle half▼ 3.7pp19.3%below the sector's middle half▼ 5.5pp45.8%within the sector's middle half▲ 26.5pp56.1%within the sector's middle half▲ 10.3pp
Staff (FTE)1below the sector's middle half▼ 47.4%1below the sector's middle half=1.2below the sector's middle half▲ 20.0%2.4within the sector's middle half▲ 100%1.4within the sector's middle half▼ 41.7%
above
within
below
the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2025 Net result +63% on 2024. The accounts now follow the abbreviated schema, last year the full schema.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 57% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.3m
Fixed assets
€650,954 ▲ 707%
Current assets
€668,464 ▼ 20.1%
Equity and liabilities €1.3m
Equity
€739,600 ▲ 76.0%
Debt
€579,818 ▲ 16.6%
Debt's share of the balance-sheet total falls from 54.2% to 43.9%. Equity and debt are higher.
Key figures and ratios
EBITDA
€458,374▲
2024 · €299,676
Cash flow
€334,234▲
2024 · €212,778
Current ratio
1.17▼
2024 · 1.75
Debt to equity
0.78▼
2024 · 1.18
ROE
43.2%▼
2024 · 46.7%
ROA
24.2%▲
2024 · 21.4%
Interest coverage
114.55▲
2024 · 65.93
Debt ≤ 1 year
€571,449▲
2024 · €477,768
Debt > 1 year
€8,369▼
2024 · €19,609
Income taxes
€120,140▲
2024 · €82,691
Staff costs
€110,674▼
2024 · €152,321
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,672 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.9%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 34,672 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €50,621 | €55,891 | €71,998 | €152,321 | €110,674 | ▼ 27.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,271 | €9,873 | €13,219 | €16,502 | €14,882 | ▼ 9.8% |
| Other operating charges640/8 | €666 | €729 | €2,253 | €1,319 | €1,585 | ▲ 20.2% |
| Non-recurring operating charges66A | - | - | - | - | €196 | - |
| Gross operating margin9900 | €111,208 | €159,051 | €166,253 | €453,316 | €570,828 | ▲ 25.9% |
| Operating profit (loss)9901 | €57,651 | €92,557 | €78,783 | €283,175 | €443,492 | ▲ 56.6% |
| Financial income75/76B | €53 | €8,589 | €573 | €339 | €2 | ▼ 99.5% |
| Recurring financial income75 | €53 | €8,589 | €573 | €339 | €2 | ▼ 99.5% |
| Financial charges65/66B | €1,242 | €2,934 | €3,891 | €4,545 | €4,002 | ▼ 12.0% |
| Recurring financial charges65 | €1,242 | €2,934 | €3,891 | €4,545 | €4,002 | ▼ 12.0% |
| Profit (loss) for the period before taxes9903 | €56,462 | €98,213 | €75,465 | €278,968 | €439,492 | ▲ 57.5% |
| Income taxes67/77 | €15,411 | €23,646 | €20,849 | €82,691 | €120,140 | ▲ 45.3% |
| Profit (loss) for the period9904 | €41,051 | €74,567 | €54,616 | €196,277 | €319,351 | ▲ 62.7% |
| Profit (loss) for the period to be appropriated9905 | €41,051 | €74,567 | €54,616 | €196,277 | €319,351 | ▲ 62.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €787,089 | €902,996 | €1.2m | €917,626 | €1.3m | ▲ 43.8% |
| Fixed assets21/28 | €22,711 | €70,454 | €90,927 | €80,707 | €650,954 | ▲ 707% |
| Intangible fixed assets21 | - | - | - | - | €3,995 | - |
| Tangible fixed assets22/27 | €6,639 | €49,982 | €74,130 | €58,710 | €41,446 | ▼ 29.4% |
| Plant, machinery and equipment23 | - | - | €6,995 | €5,495 | - | - |
| Furniture and vehicles24 | €6,639 | €21,491 | €24,937 | €16,015 | €8,885 | ▼ 44.5% |
| Other tangible fixed assets26 | - | €28,491 | €42,198 | €37,200 | €32,560 | ▼ 12.5% |
| Financial fixed assets28 | €16,072 | €20,472 | €16,797 | €21,997 | €605,514 | ▲ 2,653% |
| Current assets29/58 | €764,379 | €832,542 | €1.1m | €836,919 | €668,464 | ▼ 20.1% |
| Amounts receivable within one year40/41 | €516,715 | €624,292 | €680,551 | €553,151 | €355,998 | ▼ 35.6% |
| Trade receivables40 | €476,928 | €556,852 | €575,298 | €553,091 | €343,139 | ▼ 38.0% |
| Other amounts receivable41 | €39,787 | €67,440 | €105,252 | €60 | €12,859 | ▲ 21,332% |
| Cash at bank and in hand54/58 | €240,374 | €182,756 | €376,947 | €265,737 | €273,475 | ▲ 2.9% |
| Deferred charges and accrued income490/1 | €7,290 | €25,494 | €13,501 | €18,031 | €38,991 | ▲ 116% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €787,089 | €902,996 | €1.2m | €917,626 | €1.3m | ▲ 43.8% |
| Equity10/15 | €223,959 | €223,966 | €223,972 | €420,249 | €739,600 | ▲ 76.0% |
| Contributions10/11 | €23,100 | €23,100 | €23,100 | €23,100 | €23,100 | = |
| Outside capital11 | €23,100 | - | - | - | - | - |
| Other1109/19 | €23,100 | - | - | - | - | - |
| Profit (loss) carried forward14 | €200,859 | €200,866 | €200,872 | €397,149 | €716,500 | ▲ 80.4% |
| Amounts payable17/49 | €563,130 | €679,030 | €937,954 | €497,377 | €579,818 | ▲ 16.6% |
| Amounts payable after more than one year17 | - | €28,311 | €30,633 | €19,609 | €8,369 | ▼ 57.3% |
| Financial debts170/4 | - | €28,311 | €30,633 | €19,609 | €8,369 | ▼ 57.3% |
| Amounts payable within one year42/48 | €563,130 | €650,719 | €907,321 | €477,768 | €571,449 | ▲ 19.6% |
| Current portion of amounts payable after more than one year42 | - | €7,822 | €10,812 | €11,024 | €11,240 | ▲ 2.0% |
| Trade debts44 | €497,410 | €551,984 | €819,174 | €376,617 | €134,349 | ▼ 64.3% |
| Suppliers440/4 | €497,410 | €551,984 | €819,174 | €376,617 | €134,349 | ▼ 64.3% |
| Taxes, remuneration and social security45 | €24,600 | €16,047 | €22,725 | €90,070 | €190,640 | ▲ 112% |
| Taxes450/3 | €15,240 | €9,739 | €14,495 | €76,644 | €179,947 | ▲ 135% |
| Remuneration and social security454/9 | €9,361 | €6,309 | €8,230 | €13,426 | €10,693 | ▼ 20.4% |
| Other amounts payable47/48 | €41,119 | €74,866 | €54,610 | €57 | €235,219 | ▲ 411,123% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €41,051 | €74,567 | €54,616 | €196,277 | €319,351 | ▲ 62.7% |
| + Depreciation and write-downs630 | €2,271 | €9,873 | €13,219 | €16,502 | €14,882 | ▼ 9.8% |
| Operating cash flow (approximation) | €43,322 | €84,440 | €67,835 | €212,778 | €334,234 | ▲ 57.1% |
| Investment in fixed assets (approximation) | - | -€57,616 | -€33,692 | -€6,282 | -€585,129 | ▼ 9,215% |
| Change in cash | - | -€57,617 | €194,191 | -€111,210 | €7,738 | ▲ 107% |
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
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 27 days late
24-08
State Gazette act
Resignations & appointmentsPower of attorney4 facts ▸
State Gazette act
Resignations & appointments
Power of attorney4 facts ▸
- Board meeting, 24-04-2026
- Power of attorney, Pascal BALTUS
- Power of attorney, Tim DE ROO
- Power of attorney, Etienne HUYBENS
17-02
State Gazette act
Resignations & appointments · Restructuring · MiscellaneousMerger · Accounting effect · Capital increase14 facts ▸
State Gazette act
Resignations & appointments · Restructuring · Miscellaneous
Merger · Accounting effect · Capital increase14 facts ▸
- General meeting, 30-01-2026
- Merger, 01-02-2026, 22.000 actions ACMG contre 500 actions CETIM HOLDING
- Accounting effect, 01-01-2026
- Capital increase, €5.000
- Share issue, actions nouvelles ordinaires, 22000
- Share transfer, CETIM HOLDING → Pascal BALTUS
- Share transfer, CETIM HOLDING → Daniel HOORNAERT
- Share transfer, CETIM HOLDING → Éric DOYE
- Share transfer, CETIM HOLDING → Realpartners
- Share transfer, CETIM HOLDING → Tim de ROO
- Share transfer, CETIM HOLDING → SCOREX
- Dissolution, 01-02-2026
- +2 further facts in this act
2025
31-12
Financial
Highest result since 2018net €319,351 ▲62.7%
Operating result €443,492, net result €319,351, both a record.
31-12
Financial
Equity above €500,000Eq €739,600 ▲76%
8 profitable years in a row build equity to €739,600.
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
19-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
14-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 61 days late
2019
23-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 23 days late
2018
27-04
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
22-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 22 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
2 of 13 acts read
About the unread acts
Of the 13 Belgian State Gazette acts we know for this company, 2 have been read. The other 11 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
13 acts for this company are in the Belgian State Gazette, of which we have read 2. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Watermaal-Bosvoorde · 1 establishment unit since 2010
Ground area
7,608 m²
Building footprint
1,019 m²
Volume, LiDAR
29,191 m³
Parcel 21652E0042/00H002, Brussels · tallest building 35.8 m, ±10 floors. Linked by address, not a title deed.
173
companies at this address
See who is registered here
1 establishment unit
Terhulpsesteenweg 185, 1170 Watermaal-Bosvoorde
since 20102.186.910.035
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21652E0042/00H002 | Brussels | 7,608 m² | 1 · 1,019 m² | 35.8 m · 10 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Structure & network
Connections & network
No current directors or connected companies found in the register.
Acquisitions and mergers
1 transactionTook over:CETIM HOLDING
Capital and shareholders
Shareholders according to the acts
Share transfer
act of 17-02-2026 ↗
- CETIM HOLDING (BE 1009.935.294) to Pascal BALTUS 6,600 shares
- CETIM HOLDING (BE 1009.935.294) to Daniel HOORNAERT 3,480 shares
- CETIM HOLDING (BE 1009.935.294) to Éric DOYE 3,480 shares
- CETIM HOLDING (BE 1009.935.294) to Realpartners 3,480 shares
- CETIM HOLDING (BE 1009.935.294) to Tim de ROO 3,480 shares
- CETIM HOLDING (BE 1009.935.294) to SCOREX 3,480 shares
The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.
Capital over the years
- 17-02-2026 Capital increase of 5,000 EUR · to 28,100 EUR · 22,000 new shares
Public money · subsidies and aid
Federal government
2024 to 2025 · 3 entries · 303,244 EUR in total| Year | Department | Transactions | Amount |
|---|---|---|---|
| 2025 | FOD Mobiliteit | 2 | 125,168 EUR |
| 2024 | FOD Mobiliteit | 1 | 178,076 EUR |
Budget allocations
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Of 11,577 companies in sector 71121 we hold annual accounts for 6,563. 3,903 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
Founded22-01-2010
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
71121Engineering and related technical consultancy, excluding land surveyors
Contact
E-invoicing
Reachable via Peppol
Peppol ID
0208:0822519319
Also
9925:BE0822519319
Registered
24-04-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.