ACPA
ActiveSummary
ACPA has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €416,225 and a net result of €21,923. Equity is growing by ~13% per year across the filed fiscal years. Its solvency ranks better than 43% of 277 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability71▼-5
Solvency59▲+3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity tight (current ratio 1.07 against 1.11 in 2024; short-term debt: 52.3% and cash: 4.7% of total assets), and 65.6% 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 · 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 · 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
34.4%
Return on assets
1.8%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 16
Relative position
BE, all sectors
reference
Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials (NACE 16)
about 8% 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 06-07-2026, 25 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
25 d early
2024
43 d early
2023
30 d early
2022
19 d early
2021
6 d early
2020
39 d early
2019
47 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 16 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 37% 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 6 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€416,225▲ 5.6%
2024 · €394,302
Total assets
€1.2m▼ 4.4%
2024 · €1.3m
Net result
€21,923▼ 69.5%
2024 · €71,846
Working capital
€42,714▼ 36.8%
2024 · €67,573
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 16, Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials, 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
Operating result€22,451▼ 13.2%€67,518▲ 201%€102,576▲ 51.9%€124,844▲ 21.7%€48,533▼ 61.1%
Net result€5,356within the sector's middle half▼ 14.9%€38,389above the sector's middle half▲ 617%€56,548above the sector's middle half▲ 47.3%€71,846above the sector's middle half▲ 27.1%€21,923within the sector's middle half▼ 69.5%
Equity€227,519above the sector's middle half▲ 2.4%€265,908above the sector's middle half▲ 16.9%€322,456above the sector's middle half▲ 21.3%€394,302above the sector's middle half▲ 22.3%€416,225within the sector's middle half▲ 5.6%
Total assets€829,923above the sector's middle half▲ 3.0%€1.0mabove the sector's middle half▲ 26.5%€993,259above the sector's middle half▼ 5.4%€1.3mabove the sector's middle half▲ 27.5%€1.2mwithin the sector's middle half▼ 4.4%
Debt€602,404▲ 3.2%€783,869▲ 30.1%€670,803▼ 14.4%€872,497▲ 30.1%€794,854▼ 8.9%
Working capital-€3,581within the sector's middle half-€22,527below the sector's middle half▼ 529%€20,315within the sector's middle half€67,573within the sector's middle half▲ 233%€42,714within the sector's middle half▼ 36.8%
Solvency27.4%within the sector's middle half▼ 0.1pp25.3%within the sector's middle half▼ 2.1pp32.5%within the sector's middle half▲ 7.1pp31.1%within the sector's middle half▼ 1.3pp34.4%within the sector's middle half▲ 3.2pp
Current ratio0.99within the sector's middle half▼ 0.150.96within the sector's middle half▼ 0.041.05within the sector's middle half▲ 0.091.11within the sector's middle half▲ 0.061.07below the sector's middle half▼ 0.04
Return on assets (ROA)0.6%within the sector's middle half▼ 0.1pp3.7%within the sector's middle half▲ 3.0pp5.7%within the sector's middle half▲ 2.0pp5.7%within the sector's middle half=1.8%within the sector's middle half▼ 3.9pp
above
within
below
the middle half (P25 to P75) of NACE 16, Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 61% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.2m
Fixed assets
€534,738 ▼ 6.0%
Current assets
€676,342 ▼ 3.1%
Equity and liabilities €1.2m
Equity
€416,225 ▲ 5.6%
Debt
€794,854 ▼ 8.9%
Debt's share of the balance-sheet total falls from 68.9% to 65.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€102,180▼
2024 · €172,789
Cash flow
€75,570▼
2024 · €119,791
Quick ratio
0.33▲
2024 · 0.28
Debt to equity
1.91▼
2024 · 2.21
ROE
5.3%▼
2024 · 18.2%
Interest coverage
6.97▼
2024 · 9.97
Debt ≤ 1 year
€633,628▲
2024 · €630,353
Debt > 1 year
€159,090▼
2024 · €238,336
Income taxes
€12,670▼
2024 · €36,460
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 0.3% 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 497,340 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €399 | - | €281 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,955 | €37,885 | €46,704 | €47,945 | €53,647 | ▲ 11.9% |
| Other operating charges640/8 | €23,087 | €24,579 | €25,051 | €29,232 | €29,173 | ▼ 0.2% |
| Non-recurring operating charges66A | €1,624 | - | €200 | - | - | - |
| Gross operating margin9900 | €58,117 | €129,982 | €174,531 | €202,022 | €131,353 | ▼ 35.0% |
| Operating profit (loss)9901 | €22,451 | €67,518 | €102,576 | €124,844 | €48,533 | ▼ 61.1% |
| Financial income75/76B | €824 | €1,040 | €607 | €786 | €721 | ▼ 8.3% |
| Recurring financial income75 | €824 | €1,040 | €607 | €786 | €721 | ▼ 8.3% |
| Financial charges65/66B | €17,383 | €17,919 | €17,106 | €17,325 | €14,661 | ▼ 15.4% |
| Recurring financial charges65 | €17,383 | €17,919 | €17,106 | €17,325 | €14,661 | ▼ 15.4% |
| Profit (loss) for the period before taxes9903 | €5,892 | €50,638 | €86,077 | €108,305 | €34,593 | ▼ 68.1% |
| Income taxes67/77 | €536 | €12,250 | €29,529 | €36,460 | €12,670 | ▼ 65.2% |
| Profit (loss) for the period9904 | €5,356 | €38,389 | €56,548 | €71,846 | €21,923 | ▼ 69.5% |
| Profit (loss) for the period to be appropriated9905 | €5,356 | €38,389 | €56,548 | €71,846 | €21,923 | ▼ 69.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €829,923 | €1.0m | €993,259 | €1.3m | €1.2m | ▼ 4.4% |
| Fixed assets21/28 | €433,347 | €571,441 | €532,487 | €568,873 | €534,738 | ▼ 6.0% |
| Tangible fixed assets22/27 | €429,976 | €570,221 | €531,267 | €567,788 | €533,653 | ▼ 6.0% |
| Land and buildings22 | €403,744 | €405,721 | €406,452 | €473,620 | €481,950 | ▲ 1.8% |
| Plant, machinery and equipment23 | €3,840 | €138,137 | €105,481 | €77,074 | €41,957 | ▼ 45.6% |
| Furniture and vehicles24 | €22,392 | €26,363 | €19,334 | €17,094 | €9,745 | ▼ 43.0% |
| Financial fixed assets28 | €3,371 | €1,220 | €1,220 | €1,085 | €1,085 | = |
| Current assets29/58 | €396,576 | €478,336 | €460,772 | €697,926 | €676,342 | ▼ 3.1% |
| Stocks and contracts in progress3 | €241,294 | €294,400 | €362,049 | €521,517 | €468,297 | ▼ 10.2% |
| Stocks30/36 | €241,294 | €294,400 | €362,049 | €521,517 | €468,297 | ▼ 10.2% |
| Amounts receivable within one year40/41 | €72,305 | €150,181 | €74,424 | €167,421 | €147,138 | ▼ 12.1% |
| Trade receivables40 | €53,905 | €133,160 | €50,299 | €127,435 | €117,907 | ▼ 7.5% |
| Other amounts receivable41 | €18,400 | €17,020 | €24,125 | €39,986 | €29,231 | ▼ 26.9% |
| Cash at bank and in hand54/58 | €80,494 | €26,051 | €16,604 | €8,988 | €56,770 | ▲ 532% |
| Deferred charges and accrued income490/1 | €2,484 | €7,704 | €7,695 | - | €4,136 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €829,923 | €1.0m | €993,259 | €1.3m | €1.2m | ▼ 4.4% |
| Equity10/15 | €227,519 | €265,908 | €322,456 | €394,302 | €416,225 | ▲ 5.6% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €165,519 | €203,908 | €260,456 | €332,302 | €354,225 | ▲ 6.6% |
| Non-distributable reserves130/1 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Distributable reserves133 | €159,319 | €197,708 | €254,256 | €326,102 | €348,025 | ▲ 6.7% |
| Amounts payable17/49 | €602,404 | €783,869 | €670,803 | €872,497 | €794,854 | ▼ 8.9% |
| Amounts payable after more than one year17 | €200,235 | €281,443 | €227,320 | €238,336 | €159,090 | ▼ 33.2% |
| Financial debts170/4 | €200,235 | €281,443 | €227,320 | €238,336 | €159,090 | ▼ 33.2% |
| Amounts payable within one year42/48 | €400,157 | €500,863 | €440,457 | €630,353 | €633,628 | ▲ 0.5% |
| Current portion of amounts payable after more than one year42 | €22,422 | €52,309 | €54,123 | €56,038 | €80,709 | ▲ 44.0% |
| Financial debts43 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Credit institutions430/8 | €100,000 | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Trade debts44 | €140,694 | €174,426 | €79,011 | €165,152 | €192,512 | ▲ 16.6% |
| Suppliers440/4 | €140,694 | €174,426 | €79,011 | €165,152 | €192,512 | ▲ 16.6% |
| Taxes, remuneration and social security45 | €2,177 | €7,798 | €20,541 | €44,566 | - | - |
| Taxes450/3 | €2,177 | €7,798 | €20,541 | €44,566 | - | - |
| Other amounts payable47/48 | €134,864 | €166,330 | €186,782 | €264,597 | €260,407 | ▼ 1.6% |
| Accrued charges and deferred income492/3 | €2,012 | €1,563 | €3,026 | €3,809 | €2,137 | ▼ 43.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5,356 | €38,389 | €56,548 | €71,846 | €21,923 | ▼ 69.5% |
| + Depreciation and write-downs630 | €10,955 | €37,885 | €46,704 | €47,945 | €53,647 | ▲ 11.9% |
| Operating cash flow (approximation) | €16,312 | €76,273 | €103,252 | €119,791 | €75,570 | ▼ 36.9% |
| Investment in fixed assets (approximation) | - | -€175,979 | -€7,750 | -€84,331 | -€19,512 | ▲ 76.9% |
| Change in cash | - | -€54,442 | -€9,447 | -€7,617 | €47,782 | ▲ 727% |
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
06-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
18-06
State Gazette act
Reappointments: Aernouts Julia (director) and Havermans Paul (director)5 facts ▸
State Gazette act
Reappointments: Aernouts Julia (director) and Havermans Paul (director)
5 facts ▸
- General meeting, 02-06-2025
- Director reappointment, Aernouts Julia (director)
- Director reappointment, Havermans Paul (director)
- Board meeting, 02-06-2025
- Director reappointment, Havermans Paul (managing director)
2025
18-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €71,846 ▲27.1%
Operating result €124,844, net result €71,846, both a record.
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
12-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
25-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
22-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
16-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 47 days late
2019
31-12
Financial
Back to profitnet €32,433
Net result €32,433 after one loss-making year.
31-12
Financial
Equity above €200,000Eq €215,872 ▲17.7%
Equity rises from €183,439 to €215,872.
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 27 days late
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 28 days late
2017
28-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 28 days late
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.
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Directors · office · real estate
Directors
2 directors, 1 in day-to-day management
Day-to-day management 1
Havermans Paul
CurrentManaging director
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, Brecht · 1 establishment unit since 1989
Ground area
1.6 ha
Building footprint
2,496 m²
Volume, LiDAR
12,793 m³
2 parcels, Flanders · tallest building 6.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Vaartstraat 1, 2960 Brecht
since 19892.045.643.490
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11043D0355/00A000 | Flanders | 1.5 ha | 1 · 2,361 m² | 6.6 m · 2 fl. |
| 11333D0366/00B002 | Flanders | 595 m² | 1 · 135 m² | 6.8 m · 2 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
2 people since 2026, 2 in office
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| Aernouts Julia |
|
| Havermans Paul |
|
Structure & network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
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Subsidies and aid
Flemish government
2023 to 2024 · 2 entries · 354 EUR awarded · 305 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 240 EUR | 191 EUR |
| 2023 | 1 | 114 EUR | 114 EUR |
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Company details
Identification
Legal formPublic limited company
Founded04-10-1989
Fiscal year end31-12
Activities, NACEBEL 2025
16110Sawmilling and planing of wood
46231Wholesale of live animals
46832Wholesale of timber
47762Retail sale of pets, pet food and pet supplies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0438670424
Also
9925:BE0438670424
Registered
19-05-2025
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.