ACNC
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 21-05-2026 PDF all 29 filings
Turnover
≈ €300,000
Estimated: probably between €260,000 and €430,000
Total assets
€418,447▲ 15.8%
2024 · €361,428
Net result
€83,908▼ 17.7%
2024 · €102,015
Working capital
€291,947▲ 50.1%
2024 · €194,538
In the rankings
#6 oldest company in Oud-Heverlee, Telecoms and IT sector
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€126,419
▼ 12.3%
2025
20182025
Net result
€83,908
▼ 17.7%
2025
highest quarter of the sector
20182025
Equity
€381,864
▲ 28.2%
2025
highest quarter of the sector
20182025
Total assets
€418,447
▲ 15.8%
2025
highest quarter of the sector
20182025
Debt
€36,583
▼ 42.4%
2025
20182025
Working capital
€291,947
▲ 50.1%
2025
highest quarter of the sector
20182025
Solvency
91.3%
▲ 8.8pp
2025
highest quarter of the sector
20182025
Current ratio
8.98
▲ 4.92
2025
highest quarter of the sector
20182025
Return on assets (ROA)
20.1%
▼ 8.2pp
2025
middle half of the sector
20182025
Staff (FTE)
1
=
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€16,220-€13,391▼ 17.4%€58,454▲ 337%€105,382▲ 80.3%€96,334▼ 8.6%-€5,316€144,206€126,419▼ 12.3%
Net result€10,742-€9,172▼ 14.6%€40,157within the sector's middle half▲ 338%€82,281above the sector's middle half▲ 105%€76,552above the sector's middle half▼ 7.0%-€6,469below the sector's middle half€102,015above the sector's middle half€83,908above the sector's middle half▼ 17.7%
Equity€436,090-€445,261▲ 2.1%€485,418above the sector's middle half▲ 9.0%€487,687above the sector's middle half▲ 0.5%€216,112above the sector's middle half▼ 55.7%€195,941above the sector's middle half▼ 9.3%€297,956above the sector's middle half▲ 52.1%€381,864above the sector's middle half▲ 28.2%
Total assets€447,895-€455,999▲ 1.8%€520,840above the sector's middle half▲ 14.2%€593,121above the sector's middle half▲ 13.9%€420,442above the sector's middle half▼ 29.1%€310,511above the sector's middle half▼ 26.1%€361,428above the sector's middle half▲ 16.4%€418,447above the sector's middle half▲ 15.8%
Debt€11,806-€10,737▼ 9.0%€35,422▲ 230%€105,434▲ 198%€204,330▲ 93.8%€114,570▼ 43.9%€63,472▼ 44.6%€36,583▼ 42.4%
Working capital€366,732-€399,667▲ 9.0%€463,383above the sector's middle half▲ 15.9%€470,182above the sector's middle half▲ 1.5%€182,521above the sector's middle half▼ 61.2%€161,342above the sector's middle half▼ 11.6%€194,538above the sector's middle half▲ 20.6%€291,947above the sector's middle half▲ 50.1%
Solvency97.4%-97.6%▲ 0.3pp93.2%above the sector's middle half▼ 4.4pp82.2%above the sector's middle half▼ 11.0pp51.4%within the sector's middle half▼ 30.8pp63.1%within the sector's middle half▲ 11.7pp82.4%above the sector's middle half▲ 19.3pp91.3%above the sector's middle half▲ 8.8pp
Current ratio32.06-38.22▲ 6.1614.08above the sector's middle half▼ 24.145.46above the sector's middle half▼ 8.621.89within the sector's middle half▼ 3.572.41within the sector's middle half▲ 0.514.06within the sector's middle half▲ 1.668.98above the sector's middle half▲ 4.92
Return on assets (ROA)2.4%-2.0%▼ 0.4pp7.7%within the sector's middle half▲ 5.7pp13.9%within the sector's middle half▲ 6.2pp18.2%within the sector's middle half▲ 4.3pp-2.1%below the sector's middle half▼ 20.3pp28.2%within the sector's middle half▲ 30.3pp20.1%within the sector's middle half▼ 8.2pp
Staff (FTE)0.6-11=1=1=
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). 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 12% 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 €418,447
Fixed assets
€89,917 ▼ 13.1%
Current assets
€328,531 ▲ 27.3%
Equity and liabilities €418,447
Equity
€381,864 ▲ 28.2%
Debt
€36,583 ▼ 42.4%
Debt's share of the balance-sheet total falls from 17.6% to 8.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€152,275▼
2024 · €159,960
Cash flow
€109,764▼
2024 · €117,769
Debt to equity
0.10▼
2024 · 0.21
ROE
22.0%▼
2024 · 34.2%
Interest coverage
over 100
2024 · over 100
Debt ≤ 1 year
€36,583▼
2024 · €63,472
Income taxes
€41,986▲
2024 · €41,773
Staff costs
€52,688▲
2024 · €47,269
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-12-2022 | 30-12-2023 | 30-12-2024 | 30-12-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 1 |
| full-time | 1 | 1 | 1 | 1 |
| part-time | 0 | 0 | 0 | 0 |
| in full-time equivalents | 1 | 1 | 1 | 1 |
| Average over the year, in full-time equivalents | 1 | 1 | 1 | 1 |
| On a permanent contract | 1 | 1 | 1 | 1 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 30-12-2021 | 30-12-2022 | 30-12-2023 | 30-12-2024 | 30-12-2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €16,600 | €19,962 | €7,827 | €84,573 | €12,355 |
| Intangible fixed assets | €0 | - | - | - | - |
| Financial fixed assets | €0 | - | - | - | - |
| Depreciation and write-downs of the year | €21,130 | €3,876 | €6,820 | €15,753 | €25,856 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 · 1 entry · €1,664 awarded · €1,979 paidAnnual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €13,500 | €0 | ▼ 100% |
| Remuneration, social security and pensions62 | - | - | - | €51,404 | €45,755 | €45,832 | €47,269 | €52,688 | ▲ 11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €26,133 | €25,549 | €25,590 | €21,130 | €3,876 | €6,820 | €15,753 | €25,856 | ▲ 64.1% |
| Other operating charges640/8 | - | - | - | €933 | €602 | €384 | €417 | €591 | ▲ 41.5% |
| Gross operating margin9900 | €71,694 | €82,950 | €140,975 | €178,849 | €146,567 | €47,721 | €207,645 | €205,553 | ▼ 1.0% |
| Operating profit (loss)9901 | €16,220 | €13,391 | €58,454 | €105,382 | €96,334 | -€5,316 | €144,206 | €126,419 | ▼ 12.3% |
| Financial income75/76B | - | - | - | €2,718 | €2,502 | €674 | €542 | €520 | ▼ 4.1% |
| Recurring financial income75 | €1,480 | €3,443 | €2,123 | €2,718 | €2,502 | €674 | €542 | €520 | ▼ 4.1% |
| Financial charges65/66B | - | - | - | €686 | €918 | €887 | €960 | €1,044 | ▲ 8.8% |
| Recurring financial charges65 | €862 | €446 | €318 | €686 | €918 | €887 | €960 | €1,044 | ▲ 8.8% |
| Profit (loss) for the period before taxes9903 | €16,838 | €15,836 | €60,258 | €107,414 | €97,918 | -€5,529 | €143,788 | €125,895 | ▼ 12.4% |
| Income taxes67/77 | €6,096 | €6,664 | €20,102 | €25,133 | €21,366 | €940 | €41,773 | €41,986 | ▲ 0.5% |
| Profit (loss) for the period9904 | €10,742 | €9,172 | €40,157 | €82,281 | €76,552 | -€6,469 | €102,015 | €83,908 | ▼ 17.7% |
| Profit (loss) for the period to be appropriated9905 | €10,742 | €9,172 | €40,157 | €82,281 | €76,552 | -€6,469 | €102,015 | €83,908 | ▼ 17.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €447,895 | €455,999 | €520,840 | €593,121 | €420,442 | €310,511 | €361,428 | €418,447 | ▲ 15.8% |
| Fixed assets21/28 | €69,357 | €45,594 | €22,035 | €17,505 | €33,591 | €34,598 | €103,418 | €89,917 | ▼ 13.1% |
| Tangible fixed assets22/27 | €68,788 | €45,026 | €21,466 | €16,936 | €33,022 | €34,029 | €102,849 | €89,348 | ▼ 13.1% |
| Plant, machinery and equipment23 | - | - | - | - | - | €2,620 | €4,593 | €3,452 | ▼ 24.8% |
| Furniture and vehicles24 | - | - | - | €2,906 | €9,938 | €10,983 | €80,488 | €70,786 | ▼ 12.1% |
| Other tangible fixed assets26 | - | - | - | €14,030 | €23,085 | €20,427 | €17,768 | €15,110 | ▼ 15.0% |
| Financial fixed assets28 | €569 | €569 | €569 | €569 | €569 | €569 | €569 | €569 | = |
| Current assets29/58 | €378,538 | €410,404 | €498,805 | €575,616 | €386,851 | €275,913 | €258,010 | €328,531 | ▲ 27.3% |
| Amounts receivable after more than one year29 | - | - | - | €190,585 | €3,213 | €0 | - | - | - |
| Other amounts receivable291 | - | - | - | €190,585 | €3,213 | €0 | - | - | - |
| Amounts receivable within one year40/41 | €65,295 | €31,287 | €82,939 | €32,978 | €84,417 | €36,904 | €76,015 | €44,910 | ▼ 40.9% |
| Trade receivables40 | - | - | - | €24,313 | €72,298 | €27,225 | €67,459 | €44,910 | ▼ 33.4% |
| Other amounts receivable41 | - | - | - | €8,665 | €12,120 | €9,679 | €8,556 | €0 | ▼ 100% |
| Current investments50/53 | €305,000 | €270,000 | €264,395 | €285,208 | €272,115 | €202,249 | €152,279 | €152,655 | ▲ 0.2% |
| Cash at bank and in hand54/58 | €5,474 | €19,206 | €16,058 | €60,299 | €23,075 | €33,152 | €26,719 | €126,513 | ▲ 373% |
| Deferred charges and accrued income490/1 | - | - | - | €6,546 | €4,031 | €3,608 | €2,997 | €4,452 | ▲ 48.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €447,895 | €455,999 | €520,840 | €593,121 | €420,442 | €310,511 | €361,428 | €418,447 | ▲ 15.8% |
| Equity10/15 | €436,090 | €445,261 | €485,418 | €487,687 | €216,112 | €195,941 | €297,956 | €381,864 | ▲ 28.2% |
| Contributions10/11 | €15,496 | €15,496 | - | €15,496 | €15,496 | €15,496 | €15,496 | €15,496 | = |
| Reserves13 | €297,879 | €307,051 | €347,207 | €347,207 | €75,633 | €61,930 | €163,945 | €247,853 | ▲ 51.2% |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,859 | €1,859 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €345,348 | €73,774 | €61,930 | €163,945 | €247,853 | ▲ 51.2% |
| Profit (loss) carried forward14 | €122,715 | €122,715 | €122,715 | €124,983 | €124,983 | €118,515 | €118,515 | €118,515 | = |
| Amounts payable17/49 | €11,806 | €10,737 | €35,422 | €105,434 | €204,330 | €114,570 | €63,472 | €36,583 | ▼ 42.4% |
| Amounts payable within one year42/48 | €11,806 | €10,737 | €35,422 | €105,434 | €204,330 | €114,570 | €63,472 | €36,583 | ▼ 42.4% |
| Financial debts43 | - | - | - | €3,246 | €3,937 | €3,580 | €3,949 | €3,661 | ▼ 7.3% |
| Credit institutions430/8 | - | - | - | €3,246 | €3,937 | €3,580 | €3,949 | €3,661 | ▼ 7.3% |
| Trade debts44 | €7,160 | €6,912 | €7,225 | €8,314 | €8,273 | €5,406 | €4,982 | €9,655 | ▲ 93.8% |
| Suppliers440/4 | - | - | - | €8,314 | €8,273 | €5,406 | €4,982 | €9,655 | ▲ 93.8% |
| Taxes, remuneration and social security45 | - | - | - | €11,594 | €13,221 | €18,097 | €22,498 | €22,011 | ▼ 2.2% |
| Taxes450/3 | - | - | - | €285 | €3,478 | €10,165 | €15,206 | €11,143 | ▼ 26.7% |
| Remuneration and social security454/9 | - | - | - | €11,308 | €9,743 | €7,932 | €7,292 | €10,869 | ▲ 49.1% |
| Other amounts payable47/48 | - | - | - | €82,281 | €178,899 | €87,487 | €32,043 | €1,257 | ▼ 96.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,742 | €9,172 | €40,157 | €82,281 | €76,552 | -€6,469 | €102,015 | €83,908 | ▼ 17.7% |
| + Depreciation and write-downs630 | €26,133 | €25,549 | €25,590 | €21,130 | €3,876 | €6,820 | €15,753 | €25,856 | ▲ 64.1% |
| Operating cash flow (approximation) | €36,876 | €34,721 | €65,746 | €103,411 | €80,428 | €351 | €117,769 | €109,764 | ▼ 6.8% |
| Investment in fixed assets (approximation) | - | -€1,786 | -€2,030 | -€16,600 | -€19,962 | -€7,827 | -€84,573 | -€12,355 | ▲ 85.4% |
| Change in cash | - | €13,732 | -€3,148 | €44,240 | -€37,223 | €10,076 | -€6,433 | €99,794 | - |
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, 31,368 companies had the same profile as ACNC has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ACNC 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 31,368 companies, not a prediction for ACNC. 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.
Latest 10 of 29 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-12-2025 | micro format | 21-05-2026 | 2026-00118887 | |
| 30-12-2024 | micro format | 25-07-2025 | 2025-00325679 | |
| 30-12-2023 | micro format | 30-07-2024 | 2024-00328857 | |
| 30-12-2022 | micro format | 19-06-2023 | 2023-00141619 | |
| 30-12-2021 | micro format | 12-07-2022 | 2022-20181701 | |
| 30-12-2020 | micro format | 24-06-2021 | 2021-25100263 | |
| 30-12-2019 | micro format | 13-07-2020 | 2020-29600515 | |
| 30-12-2018 | micro format | 16-07-2019 | 2019-34100192 | |
| 30-12-2017 | micro format | 19-07-2018 | 2018-36400302 | |
| 30-12-2016 | abbreviated format | 09-08-2017 | 2017-42400550 |