ACOUSTICAL ENGINEERING
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 10-06-2026 PDF all 31 filings
Turnover
≈ €1.1m
Estimated: probably between €720,000 and €1.4m
Total assets
€663,788▲ 19.8%
2024 · €553,963
Net result
€123,038▼ 1.0%
2024 · €124,268
Working capital
€333,635▼ 4.0%
2024 · €347,464
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€183,249
▲ 1.5%
2025
20182025
Net result
€123,038
▼ 1.0%
2025
highest quarter of the sector
20182025
Equity
€409,866
▼ 8.5%
2025
highest quarter of the sector
20182025
Total assets
€663,788
▲ 19.8%
2025
highest quarter of the sector
20182025
Debt
€253,922
▲ 139%
2025
20182025
Working capital
€333,635
▼ 4.0%
2025
highest quarter of the sector
20182025
Solvency
61.7%
▼ 19.1pp
2025
middle half of the sector
20182025
Current ratio
2.31
▼ 1.96
2025
middle half of the sector
20182025
Return on assets (ROA)
18.5%
▼ 3.9pp
2025
middle half of the sector
20182025
Staff (FTE)
2.3
▲ 21.1%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€44,368-€74,123▲ 67.1%€70,110▼ 5.4%€99,251▲ 41.6%€189,381▲ 90.8%€210,364▲ 11.1%€180,532▼ 14.2%€183,249▲ 1.5%
Net result€18,460-€37,607▲ 104%€32,837above the sector's middle half▼ 12.7%€58,264above the sector's middle half▲ 77.4%€107,304above the sector's middle half▲ 84.2%€141,658above the sector's middle half▲ 32.0%€124,268above the sector's middle half▼ 12.3%€123,038above the sector's middle half▼ 1.0%
Equity€188,798-€226,405▲ 19.9%€208,706above the sector's middle half▼ 7.8%€254,403above the sector's middle half▲ 21.9%€181,789above the sector's middle half▼ 28.5%€323,448above the sector's middle half▲ 77.9%€447,716above the sector's middle half▲ 38.4%€409,866above the sector's middle half▼ 8.5%
Total assets€423,685-€453,192▲ 7.0%€500,648above the sector's middle half▲ 10.5%€501,969above the sector's middle half▲ 0.3%€415,062above the sector's middle half▼ 17.3%€469,583above the sector's middle half▲ 13.1%€553,963above the sector's middle half▲ 18.0%€663,788above the sector's middle half▲ 19.8%
Debt€234,887-€226,787▼ 3.4%€291,942▲ 28.7%€247,565▼ 15.2%€233,273▼ 5.8%€146,136▼ 37.4%€106,248▼ 27.3%€253,922▲ 139%
Working capital€119,229-€84,814▼ 28.9%€63,124within the sector's middle half▼ 25.6%€103,553within the sector's middle half▲ 64.0%€213,433above the sector's middle half▲ 106%€258,714above the sector's middle half▲ 21.2%€347,464above the sector's middle half▲ 34.3%€333,635above the sector's middle half▼ 4.0%
Solvency44.6%-50.0%▲ 5.4pp41.7%within the sector's middle half▼ 8.3pp50.7%within the sector's middle half▲ 9.0pp43.8%within the sector's middle half▼ 6.9pp68.9%within the sector's middle half▲ 25.1pp80.8%above the sector's middle half▲ 11.9pp61.7%within the sector's middle half▼ 19.1pp
Current ratio2.26-2.01▼ 0.251.37within the sector's middle half▼ 0.641.71within the sector's middle half▲ 0.352.49within the sector's middle half▲ 0.783.44within the sector's middle half▲ 0.954.27above the sector's middle half▲ 0.832.31within the sector's middle half▼ 1.96
Return on assets (ROA)4.4%-8.3%▲ 3.9pp6.6%within the sector's middle half▼ 1.7pp11.6%within the sector's middle half▲ 5.0pp25.9%above the sector's middle half▲ 14.2pp30.2%above the sector's middle half▲ 4.3pp22.4%within the sector's middle half▼ 7.7pp18.5%within the sector's middle half▼ 3.9pp
Staff (FTE)1.8-1.8=1.8within the sector's middle half=1.8=1.9▲ 5.6%1.9=1.9=2.3▲ 21.1%
above
within
below
The sector band is the middle half of the companies in Architectural and engineering activities; technical testing and analysis (NACE 71). 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 2% higher than in 2024. It is a recovery after the fall 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 €663,788
Fixed assets
€76,231 ▼ 24.0%
Current assets
€587,557 ▲ 29.5%
Equity and liabilities €663,788
Equity
€409,866 ▼ 8.5%
Debt
€253,922 ▲ 139%
Debt's share of the balance-sheet total rises from 19.2% to 38.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€219,695▲
2024 · €216,366
Cash flow
€159,484▼
2024 · €160,102
Debt to equity
0.62▲
2024 · 0.24
ROE
30.0%▲
2024 · 27.8%
Interest coverage
86.48▲
2024 · 65.85
Debt ≤ 1 year
€253,922▲
2024 · €106,248
Income taxes
€59,981▲
2024 · €55,178
Staff costs
€194,915▼
2024 · €235,377
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | - | - | 2 | 2 | 3 |
| full-time | - | - | 1 | 1 | 1 |
| part-time | - | - | 1 | 1 | 2 |
| in full-time equivalents | - | - | 1.9 | 1.9 | 2 |
| Average over the year, in full-time equivalents | 1.8 | 1.9 | 1.9 | 1.9 | 1.9 |
| On a permanent contract | - | - | 2 | 2 | 2 |
| Joined | - | - | - | - | 2 |
| Left | - | - | - | - | 1 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €18,268 | €18,467 | €85,665 | €20,396 | €12,425 |
| Intangible fixed assets | €15,738 | - | - | €10,955 | - |
| Depreciation and write-downs of the year | €45,972 | €33,030 | €32,383 | €35,834 | €36,446 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2024 to 2025 · 2 entries · €1,785 awarded · €1,785 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €1,680 | €1,680 |
| 2024 | 1 | €105 | €105 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | €38,469 | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €161,574 | €178,186 | €211,915 | €235,377 | €194,915 | ▼ 17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €42,982 | €64,163 | €45,160 | €45,972 | €33,030 | €32,383 | €35,834 | €36,446 | ▲ 1.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €770 | €11,833 | - | - | - |
| Other operating charges640/8 | - | - | - | €2,211 | €2,429 | €793 | €605 | €1,152 | ▲ 90.5% |
| Gross operating margin9900 | €234,283 | €291,084 | €258,914 | €309,008 | €403,795 | €467,288 | €452,348 | €415,761 | ▼ 8.1% |
| Operating profit (loss)9901 | €44,368 | €74,123 | €70,110 | €99,251 | €189,381 | €210,364 | €180,532 | €183,249 | ▲ 1.5% |
| Financial income75/76B | - | - | - | €327 | €715 | €1,022 | €2,199 | €2,311 | ▲ 5.1% |
| Recurring financial income75 | €72 | €77 | €20 | €327 | €715 | €1,022 | €2,199 | €2,311 | ▲ 5.1% |
| Financial charges65/66B | - | - | - | €4,620 | €4,114 | €6,210 | €3,286 | €2,540 | ▼ 22.7% |
| Recurring financial charges65 | €6,544 | €6,287 | €5,356 | €4,620 | €4,114 | €6,210 | €3,286 | €2,540 | ▼ 22.7% |
| Profit (loss) for the period before taxes9903 | €37,896 | €67,913 | €64,774 | €94,957 | €185,982 | €205,176 | €179,446 | €183,019 | ▲ 2.0% |
| Income taxes67/77 | €19,436 | €30,306 | €31,937 | €36,693 | €78,678 | €63,517 | €55,178 | €59,981 | ▲ 8.7% |
| Profit (loss) for the period9904 | €18,460 | €37,607 | €32,837 | €58,264 | €107,304 | €141,658 | €124,268 | €123,038 | ▼ 1.0% |
| Profit (loss) for the period to be appropriated9905 | €18,460 | €37,607 | €44,607 | €58,264 | €107,304 | €141,658 | €124,268 | €123,038 | ▼ 1.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €423,685 | €453,192 | €500,648 | €501,969 | €415,062 | €469,583 | €553,963 | €663,788 | ▲ 19.8% |
| Fixed assets21/28 | €210,005 | €284,399 | €264,802 | €252,837 | €58,356 | €104,734 | €100,251 | €76,231 | ▼ 24.0% |
| Intangible fixed assets21 | - | - | - | €13,944 | €10,797 | €7,649 | €13,765 | €8,426 | ▼ 38.8% |
| Tangible fixed assets22/27 | €210,005 | €284,399 | €264,802 | €238,892 | €47,559 | €97,085 | €86,487 | €67,804 | ▼ 21.6% |
| Land and buildings22 | - | - | - | €174,317 | - | - | - | - | - |
| Plant, machinery and equipment23 | - | - | - | €28,041 | €30,839 | €27,977 | €35,536 | €27,458 | ▼ 22.7% |
| Furniture and vehicles24 | - | - | - | €36,534 | €16,721 | €69,108 | €50,950 | €40,347 | ▼ 20.8% |
| Current assets29/58 | €213,680 | €168,793 | €235,846 | €249,132 | €356,706 | €364,849 | €453,712 | €587,557 | ▲ 29.5% |
| Amounts receivable within one year40/41 | €132,678 | €122,419 | €142,285 | €165,109 | €141,641 | €162,308 | €160,043 | €77,509 | ▼ 51.6% |
| Trade receivables40 | - | - | - | €119,794 | €96,326 | €110,488 | €157,002 | €77,509 | ▼ 50.6% |
| Other amounts receivable41 | - | - | - | €45,315 | €45,315 | €51,820 | €3,042 | - | - |
| Cash at bank and in hand54/58 | €68,254 | €35,087 | €82,354 | €70,348 | €197,057 | €189,120 | €277,002 | €491,523 | ▲ 77.4% |
| Deferred charges and accrued income490/1 | - | - | - | €13,675 | €18,008 | €13,422 | €16,667 | €18,525 | ▲ 11.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €423,685 | €453,192 | €500,648 | €501,969 | €415,062 | €469,583 | €553,963 | €663,788 | ▲ 19.8% |
| Equity10/15 | €188,798 | €226,405 | €208,706 | €254,403 | €181,789 | €323,448 | €447,716 | €409,866 | ▼ 8.5% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €18,153 | €18,153 | €18,153 | €18,153 | = |
| Capital10 | - | - | - | €62,000 | - | - | - | - | - |
| Issued capital100 | - | - | - | €62,000 | - | - | - | - | - |
| Contributions outside capital11 | - | - | - | - | €18,153 | €18,153 | €18,153 | - | - |
| Other1109/19 | - | - | - | - | €18,153 | €18,153 | €18,153 | - | - |
| Reserves13 | €125,414 | €163,021 | €146,706 | €192,403 | €163,637 | €305,295 | €429,563 | €391,713 | ▼ 8.8% |
| Non-distributable reserves130/1 | - | - | - | €10,000 | - | - | - | - | - |
| Legal reserve130 | - | - | - | €10,000 | - | - | - | - | - |
| Distributable reserves133 | - | - | - | €182,403 | €163,637 | €305,295 | €429,563 | €391,713 | ▼ 8.8% |
| Profit (loss) carried forward14 | €1,384 | €1,384 | - | - | - | - | - | - | - |
| Amounts payable17/49 | €234,887 | €226,787 | €291,942 | €247,565 | €233,273 | €146,136 | €106,248 | €253,922 | ▲ 139% |
| Amounts payable after more than one year17 | €140,436 | €142,808 | €118,413 | €101,987 | €90,000 | €40,000 | - | - | - |
| Financial debts170/4 | - | - | - | €101,987 | €90,000 | €40,000 | - | - | - |
| Amounts payable within one year42/48 | €94,451 | €83,979 | €172,722 | €145,579 | €143,273 | €106,136 | €106,248 | €253,922 | ▲ 139% |
| Current portion of amounts payable after more than one year42 | - | - | - | €16,426 | €11,987 | €1,771 | - | - | - |
| Trade debts44 | €21,616 | €14,753 | €21,894 | €24,868 | €43,944 | €29,203 | €46,466 | €24,655 | ▼ 46.9% |
| Suppliers440/4 | - | - | - | €24,868 | €43,944 | €29,203 | €46,466 | €24,655 | ▼ 46.9% |
| Taxes, remuneration and social security45 | - | - | - | €65,762 | €58,807 | €66,593 | €58,933 | €77,124 | ▲ 30.9% |
| Taxes450/3 | - | - | - | €47,335 | €38,520 | €43,713 | €32,018 | €59,030 | ▲ 84.4% |
| Remuneration and social security454/9 | - | - | - | €18,427 | €20,287 | €22,880 | €26,916 | €18,094 | ▼ 32.8% |
| Other amounts payable47/48 | - | - | - | €38,523 | €28,535 | €8,569 | €849 | €152,143 | ▲ 179× |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,460 | €37,607 | €32,837 | €58,264 | €107,304 | €141,658 | €124,268 | €123,038 | ▼ 1.0% |
| + Depreciation and write-downs630 | €42,982 | €64,163 | €45,160 | €45,972 | €33,030 | €32,383 | €35,834 | €36,446 | ▲ 1.7% |
| Operating cash flow (approximation) | €61,441 | €101,770 | €77,997 | €104,235 | €140,334 | €174,042 | €160,102 | €159,484 | ▼ 0.4% |
| Investment in fixed assets (approximation) | - | -€138,557 | -€25,563 | -€34,006 | €161,451 | -€78,761 | -€31,351 | -€12,425 | ▲ 60.4% |
| Change in cash | - | -€33,166 | €47,266 | -€12,006 | €126,708 | -€7,937 | €87,882 | €214,521 | ▲ 144% |
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 ACOUSTICAL ENGINEERING 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 ACOUSTICAL ENGINEERING 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 ACOUSTICAL ENGINEERING. 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 31 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 10-06-2026 | 2026-00154164 | |
| 31-12-2024 | micro format | 15-05-2025 | 2025-00096416 | |
| 31-12-2023 | micro format | 23-05-2024 | 2024-00096829 | |
| 31-12-2022 | micro format | 17-05-2023 | 2023-00089808 | |
| 31-12-2021 | micro format | 19-05-2022 | 2022-20029758 | |
| 31-12-2020 | micro format | 20-05-2021 | 2021-14800095 | |
| 31-12-2019 | micro format | 14-05-2020 | 2020-12300284 | |
| 31-12-2018 | micro format | 16-05-2019 | 2019-13300420 | |
| 31-12-2017 | micro format | 15-05-2018 | 2018-12800320 | |
| 31-12-2016 | micro format | 24-05-2017 | 2017-13300039 |