ACpath
ActiveFrom the official registers: KBO 7 annual accounts at the National Bank publications in the Belgian Official Gazette
Summary
ACpath has been active since 2018 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €213,579 and a net result of €185,760. Equity has been stable since 2019 (±0.5% per year). Its solvency ranks better than 39% of 20,678 sector peers (NACE 86, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
Official details
KBO- Status
- Active since 23-10-2018 Normal situation
- Legal form
- Private limited company
- Registered office
- Canadalaan 1, 8902 Ieper
- Activity
- Specialist medical practice NACE 86220and 1 other
- Establishment unit
- 2.281.204.230 8902 Ieper, since 23-10-2018
- Financial year end
- 31 December
- Peppol
- Reachable since 23-12-2025
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.2%
- Gross margin
- €301,339
- ▼ 0.8%
- Turnover
- ≈ €470,000
- estimated
- Profit
- €185,760
- ▲ 1.6%
- Equity
- €213,579
- ▲ 2.8%
- Total assets
- €431,449
- ▼ 13.7%
Score breakdownraises risk1 change of registered office in 24 monthslowers riskSector: Human health activities (NACE 86)Size: total assets €431,449Figures for financial year 2025 (filed on 19-07-2026)Show the evidence
Checked score
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 86, micro). It does better than 40% of them on solvency, 7% on liquidity, 80% on profitability and 43% on growth.
The bankruptcy probability was computed on 31-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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Signals
The company filed its last 7 accounts on average 25 days after the deadline. In the sector (NACE 86), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
Financials · financial year 2025, micro format
Annual accounts 2025
- Financial year ended
- 31-12-2025
- Filed on
- 19-07-2026
- Format
- micro format
- Reference
- 2026-00318932
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result for 2025 is 1% lower than in 2024.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
The sector band is the middle half of the companies in Human health activities (NACE 86). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Companies with the same profile, two years later
Historical observationIn July 2024, 26,972 companies had the same profile as ACpath has now. Two years later, 1.6% had gone bankrupt and 94.9% were still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of ACpath itself is lower: 0.2% within 12 months. It rests on far more data about ACpath than the profile alone.
Test of the method
The method was tested on the 497,445 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 26,972 companies, not a prediction for ACpath. 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.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €73,928 | €73,771 | €73,732 | €73,693 | €73,565 | €58,050 | €58,871 | ▲ 1.4% |
| Other operating charges640/8 | - | - | €1,279 | €1,138 | €1,248 | €1,269 | €706 | ▼ 44.4% |
| Gross operating margin9900 | €348,274 | €190,404 | €244,233 | €261,679 | €273,909 | €303,771 | €301,339 | ▼ 0.8% |
| Operating profit (loss)9901 | €273,545 | €116,177 | €169,222 | €186,848 | €199,096 | €244,453 | €241,763 | ▼ 1.1% |
| Financial income75/76B | - | - | - | €721 | €681 | €690 | €220 | ▼ 68.2% |
| Recurring financial income75 | - | €26 | - | €721 | €681 | €690 | €220 | ▼ 68.2% |
| Financial charges65/66B | - | - | €488 | €314 | €317 | €212 | €257 | ▲ 21.6% |
| Recurring financial charges65 | €652 | €22,019 | €488 | €314 | €317 | €212 | €257 | ▲ 21.6% |
| Profit (loss) for the period before taxes9903 | €272,893 | €94,184 | €168,734 | €187,256 | €199,460 | €244,931 | €241,725 | ▼ 1.3% |
| Income taxes67/77 | €72,660 | €19,296 | €37,710 | €42,168 | €45,397 | €62,007 | €55,965 | ▼ 9.7% |
| Profit (loss) for the period9904 | €200,232 | €74,887 | €131,024 | €145,087 | €154,064 | €182,924 | €185,760 | ▲ 1.6% |
| Profit (loss) for the period to be appropriated9905 | €200,232 | €74,887 | €131,024 | €145,087 | €154,064 | €182,924 | €185,760 | ▲ 1.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €890,291 | €832,334 | €904,506 | €918,206 | €515,569 | €500,039 | €431,449 | ▼ 13.7% |
| Fixed assets21/28 | €583,731 | €509,960 | €436,229 | €362,536 | €289,970 | €231,921 | €246,982 | ▲ 6.5% |
| Intangible fixed assets21 | €520,200 | €462,400 | €404,600 | €346,800 | €289,000 | €231,200 | €173,400 | ▼ 25.0% |
| Tangible fixed assets22/27 | €63,531 | €47,560 | €31,629 | €15,736 | €970 | €721 | €73,582 | ▲ 102× |
| Plant, machinery and equipment23 | - | - | - | - | - | - | €738 | - |
| Furniture and vehicles24 | - | - | €31,629 | €15,736 | €970 | €721 | €71,799 | ▲ 100× |
| Other tangible fixed assets26 | - | - | - | - | - | - | €1,045 | - |
| Current assets29/58 | €306,559 | €322,374 | €468,278 | €555,670 | €225,599 | €268,118 | €184,466 | ▼ 31.2% |
| Amounts receivable within one year40/41 | - | €1,672 | €2,005 | €1,420 | €965 | - | €5,320 | - |
| Trade receivables40 | - | - | €1,294 | €1,420 | €965 | - | €1,090 | - |
| Other amounts receivable41 | - | - | €712 | - | - | - | €4,230 | - |
| Current investments50/53 | - | €100,000 | €79,944 | €60,481 | €40,481 | €20,481 | €60,000 | ▲ 193% |
| Cash at bank and in hand54/58 | €189,396 | €98,489 | €296,088 | €400,313 | €89,492 | €150,415 | €33,365 | ▼ 77.8% |
| Deferred charges and accrued income490/1 | - | - | €90,240 | €93,456 | €94,660 | €97,222 | €85,781 | ▼ 11.8% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €890,291 | €832,334 | €904,506 | €918,206 | €515,569 | €500,039 | €431,449 | ▼ 13.7% |
| Equity10/15 | €212,632 | €287,520 | €424,744 | €169,831 | €178,895 | €207,819 | €213,579 | ▲ 2.8% |
| Contributions10/11 | €12,400 | €12,400 | €18,600 | €18,600 | €18,600 | €20,460 | €20,460 | = |
| Capital10 | - | - | €18,600 | €18,600 | - | - | - | - |
| Issued capital100 | - | - | €18,600 | €18,600 | - | - | - | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | - | - | - |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | €1,860 | - | - | - |
| Legal reserve130 | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | - | €1,860 | - | - | - |
| Profit (loss) carried forward14 | €198,372 | €273,260 | €404,284 | €149,371 | €158,435 | €187,359 | €193,119 | ▲ 3.1% |
| Amounts payable17/49 | €677,659 | €544,814 | €479,762 | €748,375 | €336,674 | €292,220 | €217,870 | ▼ 25.4% |
| Amounts payable after more than one year17 | €50,278 | €34,570 | €18,706 | €2,685 | - | - | - | - |
| Financial debts170/4 | - | - | €18,706 | €2,685 | - | - | - | - |
| Amounts payable within one year42/48 | €627,380 | €510,245 | €461,057 | €743,870 | €332,431 | €290,250 | €217,870 | ▼ 24.9% |
| Current portion of amounts payable after more than one year42 | - | - | €15,864 | €16,020 | €2,685 | - | - | - |
| Trade debts44 | €897 | €138 | €1,382 | €1,332 | €1,332 | €1,452 | €3,918 | ▲ 170% |
| Suppliers440/4 | - | - | €1,382 | €1,332 | €1,332 | €1,452 | €3,918 | ▲ 170% |
| Taxes, remuneration and social security45 | - | - | €5,710 | €4,096 | €397 | €17,007 | - | - |
| Taxes450/3 | - | - | €5,710 | €4,096 | €397 | €17,007 | - | - |
| Other amounts payable47/48 | - | - | €438,101 | €722,422 | €328,017 | €271,792 | €213,952 | ▼ 21.3% |
| Accrued charges and deferred income492/3 | - | - | - | €1,819 | €4,243 | €1,970 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €200,232 | €74,887 | €131,024 | €145,087 | €154,064 | €182,924 | €185,760 | ▲ 1.6% |
| + Depreciation and write-downs630 | €73,928 | €73,771 | €73,732 | €73,693 | €73,565 | €58,050 | €58,871 | ▲ 1.4% |
| Operating cash flow (approximation) | €274,160 | €148,658 | €204,756 | €218,780 | €227,628 | €240,974 | €244,631 | ▲ 1.5% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€999 | €0 | -€73,933 | - |
| Change in cash | - | -€90,907 | €197,599 | €104,226 | -€310,821 | €60,923 | -€117,051 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (7)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 19-07-2026 | 2026-00318932 | NBB |
| 31-12-2024 | micro format | 28-08-2025 | 2025-00446431 | |
| 31-12-2023 | micro format | 08-09-2024 | 2024-00460156 | |
| 31-12-2022 | micro format | 30-08-2023 | 2023-00437118 | |
| 31-12-2021 | micro format | 31-08-2022 | 2022-20424375 | |
| 31-12-2020 | micro format | 27-08-2021 | 2021-65100189 | |
| 31-12-2019 | micro format | 31-08-2020 | 2020-49600243 |
Comparable companies
These companies have the same main activity as ACpath: specialist medical practice (NACE 86220). They are comparable in size and age: total assets between €385,000 and €479,000, founded between 2018 and 2019.
| Company | Founded | Total assets | Equity | Gross margin | Net result | Financial year |
|---|---|---|---|---|---|---|
| ACpath Ieper | 2018 | €431,449 | €213,579 | €301,339 | €185,760 | 2025 |
| Dr. Griet Buyck, Geriater Brugge | 2018 | €478,767 | €393,222 | €300,649 | €224,622 | 2025 |
| Medic Rémi Brugge | 2018 | €385,146 | €18,550 | €276,340 | €201,217 | 2025 |
| DR. JEROEN HUYS, ANESTHESIE-REANIMATIE Destelbergen | 2019 | €446,424 | €41,286 | €302,852 | €208,058 | 2025 |
| Dr. Reynaert MDL Overijse | 2018 | €432,508 | €111,742 | €293,636 | €228,023 | 2025 |
| Dr. Jeroen Wens Cardio Antwerpen | 2018 | €404,847 | €399,473 | €300,801 | €224,407 | 2025 |
| Dokter Kathleen Goossens, Cardiologie Sint-Katelijne-Waver | 2018 | €411,589 | €20,460 | €290,323 | €217,745 | 2025 |
They were chosen from the 8,159 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| Capoen, An |
|
The board according to the articles of association
Board and representation
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- “Één of meer bestuurders, natuurlijke personen of rechtspersonen, al dan niet aandeelhouder, beroep uitoefenen zonder fouten en volgens…”
Audit, dissolution and liquidation
- Dissolution ruleThe articles set when and by whom the company can be dissolved.
- One provision in the deed
- Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
- One provision in the deed
Articles of association, deed of 06-11-2023 (in Dutch)
Owners and capital
Capital transactions
- 06-11-2023 Capital stated in the deed · 186 shares
Other provisions of the articles of association
- Other provisionsThese rules from the articles cover subjects other than the board, the shares, the purpose and the meetings.
- “Bevoegdheden van het bestuursorgaan, Artikel 15”“Bestemming van de winst-reserves, Artikel 25”Liquidation distribution: “Artikel 28, aanzuivering schulden, lasten, kosten of consignatie”
Articles of association, deed of 06-11-2023 (in Dutch)
Group and network
Connections & network
1 connected companyThe connected companies are in the list below.
History
Acts, filings and financial milestones
01-04
Gazette deed
Registered officeRegistered-office move · Director in office3 points ▸
- Board meeting, 20-01-2025
- Registered-office move, Canadalaan 1 te 8902 Zillebeke
- Director in office, Capoen An (director)
06-11
Gazette deed
Amendment of the articles · Legal-form change · Resignations & appointmentsAppointment: CAPOEN An Sabine Micheline (statutory director) · Power of attorney · Incorporation11 points ▸
- Director appointment, CAPOEN An Sabine Micheline (statutory director), mentioned 2 times in the deed
- Power of attorney, Tim Vandersteen
- Power of attorney
- Other provision, “al de beslissingen die voorafgaan, STEMMING” (deed in Dutch)
- Incorporation, 19-10-2018
- General meeting, 27-10-2023
- Other provision, “statutenwijzigingshistoriek, ongewijzigd tot op heden” (deed in Dutch)
- Amendment of the articles, mentioned 2 times in the deed
- Capital conversion, “van rechtswege omgezet, artikel 39, §2, derde lid van de wet van 23-03-2019” (deed in Dutch)
- Reserve release, “integrale opheffing statutair onbeschikbare eigen vermogensrekeningen, beschikbaar maken voor uitkering” (deed in Dutch)
- Capital
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Invoicing and payment
Financial year and general meeting
Accounts at the NBBThe scores and ratios are Checked's own calculations, not a credit decision.
Environmental permits: No permit applications found in Flanders.
Sites & property
1 establishment unit
Buildings and parcels at the address
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 33036B0014/00M000 | Flanders | 3,588 m² | 1 · 294 m² | 9.0 m · 1 |