ACRON
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 18-06-2026 at the NBB all 36 filings
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€3,944
2024 · €6,557
Working capital
€30,401▼ 9.2%
2024 · €33,485
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€2,083
2025
20182025
Net result
-€3,944
2025
lowest quarter of the sector
20182025
Equity
€32,216
▼ 10.9%
2025
lowest quarter of the sector
20182025
Total assets
€32,313
▼ 11.1%
2025
lowest quarter of the sector
20182025
Debt
€97
▼ 48.1%
2025
20182025
Working capital
€30,401
▼ 9.2%
2025
lowest quarter of the sector
20182025
Solvency
99.7%
▲ 0.2pp
2025
highest quarter of the sector
20182025
Current ratio
no figure
2025
20182025
Return on assets (ROA)
-12.2%
▼ 30.2pp
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€2,591-€1,417€353▼ 75.1%€8,403▲ 24×€12,261▲ 45.9%€10,335▼ 15.7%€9,155▼ 11.4%-€2,083
Net result-€2,739-€1,329€276within the sector's middle half▼ 79.2%€8,328within the sector's middle half▲ 30×€12,176within the sector's middle half▲ 46.2%€10,289within the sector's middle half▼ 15.5%€6,557within the sector's middle half▼ 36.3%-€3,944below the sector's middle half
Equity-€2,795--€1,466▲ 47.5%-€1,190below the sector's middle half▲ 18.8%€7,138below the sector's middle half€19,314below the sector's middle half▲ 171%€29,603below the sector's middle half▲ 53.3%€36,160below the sector's middle half▲ 22.1%€32,216below the sector's middle half▼ 10.9%
Total assets€14,818-€16,505▲ 11.4%€16,259below the sector's middle half▼ 1.5%€24,518below the sector's middle half▲ 50.8%€29,230below the sector's middle half▲ 19.2%€29,676below the sector's middle half▲ 1.5%€36,347below the sector's middle half▲ 22.5%€32,313below the sector's middle half▼ 11.1%
Debt€17,613-€17,971▲ 2.0%€17,449▼ 2.9%€17,380▼ 0.4%€9,916▼ 42.9%€73▼ 99.3%€187▲ 156%€97▼ 48.1%
Working capital-€3,395--€1,995▲ 41.2%-€2,422within the sector's middle half▼ 21.4%€6,155below the sector's middle half€17,152below the sector's middle half▲ 179%€27,930below the sector's middle half▲ 62.8%€33,485below the sector's middle half▲ 19.9%€30,401below the sector's middle half▼ 9.2%
Solvency-18.9%--8.9%▲ 10.0pp-7.3%below the sector's middle half▲ 1.6pp29.1%within the sector's middle half▲ 36.4pp66.1%above the sector's middle half▲ 37.0pp99.8%above the sector's middle half▲ 33.7pp99.5%above the sector's middle half▼ 0.3pp99.7%above the sector's middle half▲ 0.2pp
Current ratio0.81-0.89▲ 0.080.86below the sector's middle half▼ 0.031.35within the sector's middle half▲ 0.492.73within the sector's middle half▲ 1.38
Return on assets (ROA)-18.5%-8.1%▲ 26.5pp1.7%within the sector's middle half▼ 6.4pp34.0%above the sector's middle half▲ 32.3pp41.7%above the sector's middle half▲ 7.7pp34.7%above the sector's middle half▼ 7.0pp18.0%above the sector's middle half▼ 16.6pp-12.2%below the sector's middle half▼ 30.2pp
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). 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 a loss of €2,083, after a profit of €9,155 in 2024. It is the lowest result since 2018.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €32,313
Fixed assets
€1,815 ▼ 32.1%
Current assets
€30,498 ▼ 9.4%
Equity and liabilities €32,313
Equity
€32,216 ▼ 10.9%
Debt
€97 ▼ 48.1%
Debt's share of the balance-sheet total falls from 0.5% to 0.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€1,221▼
2024 · €10,017
Cash flow
-€3,082▼
2024 · €7,419
Debt to equity
0.00▼
2024 · 0.01
ROE
-12.2%▼
2024 · 18.1%
Interest coverage
-11.41▼
2024 · 59.27
Debt ≤ 1 year
€97▼
2024 · €187
Income taxes
€1,849▼
2024 · €2,495
Staff costs
€364
A ratio outside any meaningful range has been withheld (balance sheet total €32,313, equity €32,216).
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €1,798 | - | €1,864 | - |
| Depreciation and write-downs of the year | €249 | €490 | €489 | €862 | €862 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €300 | - | €348 | - | €364 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €70 | €71 | €296 | €249 | €490 | €489 | €862 | €862 | = |
| Other operating charges640/8 | - | - | - | €839 | €102 | €109 | €118 | €120 | ▲ 1.7% |
| Gross operating margin9900 | -€1,599 | €2,404 | €1,532 | €9,791 | €12,853 | €11,281 | €10,135 | -€737 | - |
| Operating profit (loss)9901 | -€2,591 | €1,417 | €353 | €8,403 | €12,261 | €10,335 | €9,155 | -€2,083 | - |
| Financial income75/76B | - | - | - | €15 | - | €49 | €66 | €95 | ▲ 43.9% |
| Recurring financial income75 | - | - | - | €15 | - | €49 | €66 | €95 | ▲ 43.9% |
| Financial charges65/66B | - | - | - | €90 | €85 | €80 | €169 | €107 | ▼ 36.7% |
| Recurring financial charges65 | €148 | €88 | €77 | €90 | €85 | €80 | €169 | €107 | ▼ 36.7% |
| Profit (loss) for the period before taxes9903 | -€2,739 | €1,329 | €276 | €8,328 | €12,176 | €10,304 | €9,052 | -€2,095 | - |
| Income taxes67/77 | - | - | - | - | - | €15 | €2,495 | €1,849 | ▼ 25.9% |
| Profit (loss) for the period9904 | -€2,739 | €1,329 | €276 | €8,328 | €12,176 | €10,289 | €6,557 | -€3,944 | - |
| Profit (loss) for the period to be appropriated9905 | -€2,739 | €1,329 | €276 | €8,328 | €12,176 | €10,289 | €6,557 | -€3,944 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €14,818 | €16,505 | €16,259 | €24,518 | €29,230 | €29,676 | €36,347 | €32,313 | ▼ 11.1% |
| Fixed assets21/28 | €600 | €529 | €1,232 | €983 | €2,162 | €1,673 | €2,675 | €1,815 | ▼ 32.1% |
| Tangible fixed assets22/27 | €421 | €350 | €1,053 | €804 | €2,112 | €1,623 | €2,625 | €1,765 | ▼ 32.8% |
| Plant, machinery and equipment23 | - | - | - | €99 | €99 | €99 | €1,342 | €721 | ▼ 46.3% |
| Furniture and vehicles24 | - | - | - | €705 | €2,013 | €1,524 | €1,283 | €1,044 | ▼ 18.6% |
| Financial fixed assets28 | €179 | €179 | €179 | €179 | €50 | €50 | €50 | €50 | = |
| Current assets29/58 | €14,218 | €15,976 | €15,027 | €23,535 | €27,068 | €28,003 | €33,672 | €30,498 | ▼ 9.4% |
| Stocks and contracts in progress3 | €12,180 | €11,478 | €10,888 | €10,972 | €10,413 | €10,062 | €8,792 | €8,846 | ▲ 0.6% |
| Stocks30/36 | - | - | - | €10,972 | €10,413 | €10,062 | €8,792 | €8,846 | ▲ 0.6% |
| Amounts receivable within one year40/41 | €102 | €123 | €330 | €144 | €313 | €3,881 | €3,961 | €3,961 | = |
| Trade receivables40 | - | - | - | - | €112 | - | - | - | - |
| Other amounts receivable41 | - | - | - | €144 | €201 | €3,881 | €3,961 | €3,961 | = |
| Current investments50/53 | €510 | €1,200 | €3,000 | €11,000 | €15,800 | €10,834 | €14,881 | €16,147 | ▲ 8.5% |
| Cash at bank and in hand54/58 | €1,426 | €3,175 | €809 | €1,419 | €542 | €3,226 | €6,038 | €1,544 | ▼ 74.4% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €14,818 | €16,505 | €16,259 | €24,518 | €29,230 | €29,676 | €36,347 | €32,313 | ▼ 11.1% |
| Equity10/15 | -€2,795 | -€1,466 | -€1,190 | €7,138 | €19,314 | €29,603 | €36,160 | €32,216 | ▼ 10.9% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Capital10 | - | - | - | - | - | €18,592 | €18,592 | €18,592 | = |
| Issued capital100 | - | - | - | - | - | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Non-distributable reserves130/1 | - | - | - | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Legal reserve130 | - | - | - | - | - | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | - | - | - | €1,859 | €1,859 | - | - | - | - |
| Profit (loss) carried forward14 | -€23,246 | -€21,917 | -€21,641 | -€13,313 | -€1,137 | €9,152 | €15,709 | €11,765 | ▼ 25.1% |
| Amounts payable17/49 | €17,613 | €17,971 | €17,449 | €17,380 | €9,916 | €73 | €187 | €97 | ▼ 48.1% |
| Amounts payable within one year42/48 | €17,613 | €17,971 | €17,449 | €17,380 | €9,916 | €73 | €187 | €97 | ▼ 48.1% |
| Trade debts44 | €1,500 | €619 | €96 | €27 | - | €73 | €107 | €17 | ▼ 84.1% |
| Suppliers440/4 | - | - | - | €27 | - | €73 | €107 | €17 | ▼ 84.1% |
| Taxes, remuneration and social security45 | - | - | - | €17,353 | €9,916 | - | €80 | €80 | = |
| Taxes450/3 | - | - | - | - | - | - | €80 | €80 | = |
| Remuneration and social security454/9 | - | - | - | €17,353 | €9,916 | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2,739 | €1,329 | €276 | €8,328 | €12,176 | €10,289 | €6,557 | -€3,944 | - |
| + Depreciation and write-downs630 | €70 | €71 | €296 | €249 | €490 | €489 | €862 | €862 | = |
| Operating cash flow (approximation) | -€2,669 | €1,400 | €572 | €8,577 | €12,666 | €10,778 | €7,419 | -€3,082 | - |
| Investment in fixed assets (approximation) | - | €0 | -€999 | €0 | -€1,669 | €0 | -€1,864 | -€2 | ▲ 99.9% |
| Change in cash | - | €1,749 | -€2,366 | €610 | -€877 | €2,684 | €2,812 | -€4,494 | - |
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, 5,831 companies had the same profile as ACRON has now. Two years later, 84.6% were still going and 1.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
84.6%
was still going
13.4%
stopped otherwise
1.7%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of ACRON itself is lower: 0.3% within 12 months. It rests on far more data about ACRON than the profile alone.
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 5,831 companies, not a prediction for ACRON. 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 36 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 18-06-2026 | 2026-00171397 | |
| 31-12-2024 | abbreviated format | 23-06-2025 | 2025-00163102 | |
| 31-12-2023 | abbreviated format | 22-06-2024 | 2024-00151126 | |
| 31-12-2022 | abbreviated format | 21-06-2023 | 2023-00142724 | |
| 31-12-2021 | abbreviated format | 22-06-2022 | 2022-20081394 | |
| 31-12-2020 | micro format | 20-06-2021 | 2021-21800262 | |
| 31-12-2019 | micro format | 26-06-2020 | 2020-21200252 | |
| 31-12-2018 | abbreviated format | 25-06-2019 | 2019-22200080 | |
| 31-12-2017 | abbreviated format | 27-06-2018 | 2018-24200458 | |
| 31-12-2016 | abbreviated format | 28-06-2017 | 2017-23400179 |