ACTA
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 02-04-2026 PDF all 20 filings
Turnover
€2.8m
EBIT margin
1.6%
Net result
€153,122▼ 56.9%
2024 · €355,098
Working capital
€3.2m▲ 11.0%
2024 · €2.9m
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
€179,226
▼ 44.6%
2025
20182025
Net result
€153,122
▼ 56.9%
2025
highest quarter of the sector
20182025
EBIT margin
no figure
2025
20182025
Equity
€8.8m
▼ 0.6%
2025
highest quarter of the sector
20182025
Total assets
€9.5m
▼ 0.1%
2025
highest quarter of the sector
20182025
Debt
€662,455
▲ 8.0%
2025
20182025
Working capital
€3.2m
▲ 11.0%
2025
highest quarter of the sector
20182025
Solvency
93.0%
▼ 0.5pp
2025
highest quarter of the sector
20182025
Current ratio
7.20
▲ 0.92
2025
highest quarter of the sector
20182025
Return on assets (ROA)
1.6%
▼ 2.1pp
2025
middle half of the sector
20182025
Staff (FTE)
23.3
▼ 6.4%
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€2.8m-
Operating result€0.04m-€0.4m▲ 694%-€0.6m-€0.3m▲ 52.6%-€0.4m▼ 51.0%€0.4m€0.3m▼ 19.3%€0.2m▼ 44.6%
Net result€0.3m-€0.6m▲ 95.9%-€0.3mbelow the sector's middle half€0.04mwithin the sector's middle half-€0.1mbelow the sector's middle half€0.4mabove the sector's middle half€0.4mabove the sector's middle half▼ 17.5%€0.2mabove the sector's middle half▼ 56.9%
EBIT margin1.6%-
Equity€9.1m-€9.5m▲ 4.6%€9.1mabove the sector's middle half▼ 4.9%€8.8mabove the sector's middle half▼ 2.3%€8.5mabove the sector's middle half▼ 3.5%€8.8mabove the sector's middle half▲ 2.7%€8.9mabove the sector's middle half▲ 1.5%€8.8mabove the sector's middle half▼ 0.6%
Total assets€9.6m-€10.0m▲ 3.8%€9.7mabove the sector's middle half▼ 3.1%€9.4mabove the sector's middle half▼ 2.5%€9.2mabove the sector's middle half▼ 2.4%€9.3mabove the sector's middle half▲ 1.4%€9.5mabove the sector's middle half▲ 1.8%€9.5mabove the sector's middle half▼ 0.1%
Debt€0.5m-€0.4m▼ 9.9%€0.6m▲ 36.0%€0.6m▼ 5.8%€0.7m▲ 15.0%€0.6m▼ 13.8%€0.6m▲ 7.9%€0.7m▲ 8.0%
Working capital€1.7m-€2.3m▲ 39.5%€2.1mabove the sector's middle half▼ 7.8%€2.2mabove the sector's middle half▲ 2.1%€2.1mabove the sector's middle half▼ 4.2%€2.5mabove the sector's middle half▲ 17.4%€2.9mabove the sector's middle half▲ 17.7%€3.2mabove the sector's middle half▲ 11.0%
Solvency94.5%-95.3%▲ 0.7pp93.5%above the sector's middle half▼ 1.8pp93.8%above the sector's middle half▲ 0.3pp92.8%above the sector's middle half▼ 1.0pp93.9%above the sector's middle half▲ 1.1pp93.5%above the sector's middle half▼ 0.4pp93.0%above the sector's middle half▼ 0.5pp
Current ratio4.60-6.23▲ 1.625.24within the sector's middle half▼ 0.995.47within the sector's middle half▲ 0.234.67within the sector's middle half▼ 0.805.81within the sector's middle half▲ 1.146.28within the sector's middle half▲ 0.477.20above the sector's middle half▲ 0.92
Return on assets (ROA)3.4%-6.4%▲ 3.0pp-2.8%below the sector's middle half▼ 9.2pp0.4%within the sector's middle half▲ 3.2pp-1.3%below the sector's middle half▼ 1.7pp4.6%within the sector's middle half▲ 5.9pp3.7%within the sector's middle half▼ 0.9pp1.6%within the sector's middle half▼ 2.1pp
Staff (FTE)21.5-21.2▼ 1.4%22above the sector's middle half▲ 3.8%24above the sector's middle half▲ 9.1%26.4above the sector's middle half▲ 10.0%27.5above the sector's middle half▲ 4.2%24.9above the sector's middle half▼ 9.5%23.3above the sector's middle half▼ 6.4%
above
within
below
The sector band is the middle half of the companies in Education (NACE 85). 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 45% lower than in 2024. It is the second fall in a row.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €9.5m
Fixed assets
€5.8m ▼ 4.9%
Current assets
€3.7m ▲ 8.4%
Equity and liabilities €9.5m
Equity
€8.8m ▼ 0.6%
Debt
€662,455 ▲ 8.0%
Debt's share of the balance-sheet total rises from 6.5% to 7.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€653,618▼
2024 · €793,095
Cash flow
€627,514▼
2024 · €824,879
Debt to equity
0.07▲
2024 · 0.07
ROE
1.7%▼
2024 · 4.0%
Interest coverage
22.65▲
2024 · -61.79
Debt ≤ 1 year
€519,967▼
2024 · €550,178
Income taxes
€1,178▼
2024 · €7,939
Staff costs
€2.6m▼
2024 · €2.7m
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 | 31 | 34 | 34 | 29 | 27 |
| full-time | 14 | 16 | 16 | 15 | 12 |
| part-time | 17 | 18 | 18 | 14 | 15 |
| in full-time equivalents | 25.4 | 28.2 | 27.9 | 24.4 | 22.7 |
| Average over the year, in full-time equivalents | 24 | 26.4 | 27.5 | 24.9 | 23.3 |
| On a permanent contract | 29 | 32 | 32 | 28 | 26 |
| Joined | 7 | 12 | 9 | 9 | 2 |
| Left | 5 | 9 | 9 | 14 | 4 |
| Training hours | - | 0 | 0 | 0 | 0 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €143,516 | €217,096 | €285,441 | €169,040 | €222,534 |
| Financial fixed assets | €2,000 | €600 | €300 | €300 | - |
| Depreciation and write-downs of the year | €421,007 | €432,118 | €459,027 | €469,781 | €474,392 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 to 2025 · 7 entries · €198,273 awarded · €134,673 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 3 | €62,050 | €69,470 |
| 2024 | 1 | €12,619 | €12,619 |
| 2023 | 3 | €123,604 | €52,584 |
European research
1 projectProgrammes
Projects
Chemical Engineering Immersive Learning
Public contracts
2 awards · 2024 to 2025
Opdracht voor het geven van opleidingsmodules Praktijkdagen Procestechnieken voor Anderstaligen in Antwerpen: 2025_21004_Praktijkdagen Procestechnieken Anderstaligen - 1
Opdracht voor het geven van opleidingsmodules in Antwerpen - Procestechnieken: 2024_20995 - Procestechnieken - 1
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €2.8m | - | - | - | - | - | - | - | - |
| Non-recurring operating income76A | - | - | - | €0.02m | €0 | - | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €2.0m | €2.4m | €2.6m | €2.7m | €2.6m | ▼ 2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.5m | €0.5m | €0.5m | ▲ 1.0% |
| Other operating charges640/8 | - | - | - | €0.04m | €0.04m | €0.05m | €0.03m | €0.02m | ▼ 51.8% |
| Non-recurring operating charges66A | - | - | - | - | - | €0.001m | €0 | €0.05m | - |
| Gross operating margin9900 | €2.1m | €2.4m | €1.5m | €2.2m | €2.5m | €3.5m | €3.5m | €3.3m | ▼ 5.4% |
| Operating profit (loss)9901 | €0.04m | €0.4m | -€0.6m | -€0.3m | -€0.4m | €0.4m | €0.3m | €0.2m | ▼ 44.6% |
| Financial income75/76B | - | - | - | €0.3m | €0.3m | €0.02m | €0.03m | €0.004m | ▼ 85.4% |
| Recurring financial income75 | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | €0.02m | €0.03m | €0.004m | ▼ 85.4% |
| Financial charges65/66B | - | - | - | -€399 | €0.05m | -€0.01m | -€0.01m | €0.03m | - |
| Recurring financial charges65 | €0.02m | €0.004m | €0.02m | -€399 | €0.05m | -€0.01m | -€0.01m | €0.03m | - |
| Profit (loss) for the period before taxes9903 | €0.3m | €0.6m | -€0.3m | €0.04m | -€0.1m | €0.4m | €0.4m | €0.2m | ▼ 57.5% |
| Income taxes67/77 | - | - | - | - | - | €0.006m | €0.008m | €0.001m | ▼ 85.2% |
| Profit (loss) for the period9904 | €0.3m | €0.6m | -€0.3m | €0.04m | -€0.1m | €0.4m | €0.4m | €0.2m | ▼ 56.9% |
| Profit (loss) for the period to be appropriated9905 | €0.3m | €0.6m | -€0.3m | €0.04m | -€0.1m | €0.4m | €0.4m | €0.2m | ▼ 56.9% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €9.6m | €10.0m | €9.7m | €9.4m | €9.2m | €9.3m | €9.5m | €9.5m | ▼ 0.1% |
| Fixed assets21/28 | €7.5m | €7.2m | €7.0m | €6.7m | €6.5m | €6.4m | €6.1m | €5.8m | ▼ 4.9% |
| Tangible fixed assets22/27 | €7.5m | €7.2m | €7.0m | €6.7m | €6.5m | €6.4m | €6.1m | €5.8m | ▼ 4.9% |
| Land and buildings22 | - | - | - | €4.8m | €4.6m | €4.4m | €4.2m | €4.0m | ▼ 4.5% |
| Plant, machinery and equipment23 | - | - | - | €1.9m | €1.8m | €1.9m | €1.8m | €1.7m | ▼ 5.7% |
| Furniture and vehicles24 | - | - | - | €0.02m | €0.07m | €0.06m | €0.05m | €0.05m | ▼ 13.0% |
| Financial fixed assets28 | €0.001m | €0.002m | €0.001m | €0.002m | €0.001m | €0.002m | €0.001m | €0.001m | = |
| Current assets29/58 | €2.1m | €2.8m | €2.7m | €2.7m | €2.7m | €3.0m | €3.5m | €3.7m | ▲ 8.4% |
| Amounts receivable within one year40/41 | €0.4m | €0.8m | €0.7m | €0.7m | €0.9m | €1.0m | €1.1m | €1.0m | ▼ 4.1% |
| Trade receivables40 | - | - | - | €0.7m | €0.9m | €1.0m | €1.1m | €1.0m | ▼ 4.1% |
| Other amounts receivable41 | - | - | - | €0.002m | €0 | - | - | - | - |
| Current investments50/53 | €0.3m | €0.3m | €0.3m | €0.3m | €0.2m | €1.2m | €0.3m | €1.2m | ▲ 367% |
| Cash at bank and in hand54/58 | €1.4m | €1.7m | €1.6m | €1.6m | €1.4m | €0.7m | €2.0m | €1.4m | ▼ 31.0% |
| Deferred charges and accrued income490/1 | - | - | - | €0.05m | €0.1m | €0.08m | €0.1m | €0.1m | ▼ 16.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €9.6m | €10.0m | €9.7m | €9.4m | €9.2m | €9.3m | €9.5m | €9.5m | ▼ 0.1% |
| Equity10/15 | €9.1m | €9.5m | €9.1m | €8.8m | €8.5m | €8.8m | €8.9m | €8.8m | ▼ 0.6% |
| Reserves13 | - | - | - | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | = |
| Profit (loss) carried forward14 | €2.3m | €3.0m | €2.7m | €2.8m | €2.6m | €3.1m | €3.4m | €3.6m | ▲ 4.5% |
| Investment grants15 | - | - | - | €5.7m | €5.5m | €5.3m | €5.1m | €4.9m | ▼ 4.1% |
| Provisions and deferred taxes16 | €0.03m | €0.02m | €0.02m | €0.01m | €0.005m | €0 | - | - | - |
| Provisions for liabilities and charges160/5 | - | - | - | €0.01m | €0.005m | €0 | - | - | - |
| Major repairs and maintenance162 | - | - | - | €0.01m | €0.005m | €0 | - | - | - |
| Amounts payable17/49 | €0.5m | €0.4m | €0.6m | €0.6m | €0.7m | €0.6m | €0.6m | €0.7m | ▲ 8.0% |
| Amounts payable within one year42/48 | €0.5m | €0.4m | €0.5m | €0.5m | €0.6m | €0.5m | €0.6m | €0.5m | ▼ 5.5% |
| Financial debts43 | - | - | - | - | - | - | €415 | €0.004m | ▲ 880% |
| Credit institutions430/8 | - | - | - | - | - | - | €415 | €0.004m | ▲ 880% |
| Trade debts44 | €0.2m | €0.1m | €0.2m | €0.1m | €0.1m | €0.03m | €0.1m | €0.08m | ▼ 36.0% |
| Suppliers440/4 | - | - | - | €0.1m | €0.1m | €0.03m | €0.1m | €0.08m | ▼ 36.0% |
| Taxes, remuneration and social security45 | - | - | - | €0.4m | €0.5m | €0.5m | €0.4m | €0.4m | ▲ 2.7% |
| Taxes450/3 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 7.0% |
| Remuneration and social security454/9 | - | - | - | €0.3m | €0.3m | €0.3m | €0.3m | €0.3m | ▲ 1.4% |
| Accrued charges and deferred income492/3 | - | - | - | €0.08m | €0.09m | €0.06m | €0.06m | €0.1m | ▲ 125% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.3m | €0.6m | -€0.3m | €0.04m | -€0.1m | €0.4m | €0.4m | €0.2m | ▼ 56.9% |
| + Depreciation and write-downs630 | €0.4m | €0.4m | €0.4m | €0.4m | €0.4m | €0.5m | €0.5m | €0.5m | ▲ 1.0% |
| Operating cash flow (approximation) | €0.7m | €1.0m | €0.1m | €0.5m | €0.3m | €0.9m | €0.8m | €0.6m | ▼ 23.9% |
| Investment in fixed assets (approximation) | - | -€0.1m | -€0.2m | -€0.1m | -€0.2m | -€0.3m | -€0.2m | -€0.2m | ▼ 5.1% |
| Change in cash | - | €0.3m | -€0.08m | €0.02m | -€0.2m | -€0.7m | €1.3m | -€0.6m | - |
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, 14,766 companies had the same profile as ACTA has now. Two years later, 96.2% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
96.2%
was still going
3.5%
stopped otherwise
0.2%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ACTA 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 14,766 companies, not a prediction for ACTA. 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 20 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 02-04-2026 | 2026-00071094 | |
| 31-12-2024 | abbreviated format | 09-05-2025 | 2025-00093594 | |
| 31-12-2023 | abbreviated format | 21-05-2024 | 2024-00093214 | |
| 31-12-2022 | abbreviated format | 23-05-2023 | 2023-00094676 | |
| 31-12-2021 | abbreviated format | 21-04-2022 | 2022-20005697 | |
| 31-12-2020 | abbreviated format | 08-06-2021 | 2021-18100249 | |
| 31-12-2019 | abbreviated format | 10-06-2020 | 2020-15800243 | |
| 31-12-2018 | abbreviated format | 06-09-2019 | 2019-63500146 | |
| 31-12-2017 | abbreviated format | 17-04-2018 | 2018-10200133 | |
| 31-12-2016 | abbreviated format | 10-04-2017 | 2017-09100103 |