Activate Kine
ActiveSummary
Activate Kine has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €78,770 and a net result of €16,387. Equity is growing by ~11.9% per year across the filed fiscal years. Its solvency ranks better than 47% of 17112 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
What they do
Physiotherapy
NACE 86951NACE 86905
1 site
How big
€130,607total assets 2025
- Equity
- €78,770
- Profit
- €16,387
Turnover not published (abridged schema)
Who decides
Accounts 63 d early0 of 2 deeds read
Why 90- Limited track record+ Lower-failure-rate sector+ Annual accounts: healthy financial profileLatest accounts filed on timeShow the evidence
Checked score
Score 2025
Axes · tick = 2024
Profitability84▼-3
Solvency85▼-5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days acceptable
Liquidity ample (current ratio 2.62 against 2.06 in 2024; short-term debt: 28.3% and cash: 53.7% of total assets), and 39.7% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 86
Relative position
BE, all sectors
reference
Human health activities (NACE 86)
about 87% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
60.3%
Return on assets
12.5%
Age of the figures
9 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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 29-05-2026, 63 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
63 d early
2024
45 d early
2023
19 d early
2022
7 d early
2021
17 d early
2020
5 d early
2019
28 d early
← 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 26 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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 13 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
- Annual accounts filedfiscal year 2025 · micro…
- Annual accounts filedfiscal year 2024 · micro…
- Annual accounts filedfiscal year 2023 · micro…
Financials
Fiscal year 2025Total assets €130,607Profit €16,387Solvency 60.3%Liquidity 2.62
Total assets
€130,607▲ 3.8%
2019 - 2025
Net result
€16,387▼ 8.5%
2019 - 2025
Equity
€78,770▼ 4.4%
2019 - 2025
Solvency
60.3%▼ 5.2pp
2019 - 2025
Financials · fiscal year 2025, micro schema
Trend over the years
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 86, Human health activities, 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€16,639▼ 46.7%€27,424▲ 64.8%-€1,225€24,983€22,835▼ 8.6%
Net result€13,636below the sector's middle half▼ 49.3%€20,102within the sector's middle half▲ 47.4%€1,410below the sector's middle half▼ 93.0%€17,905below the sector's middle half▲ 1,170%€16,387below the sector's middle half▼ 8.5%
Equity€62,966within the sector's middle half▲ 27.6%€83,068within the sector's middle half▲ 31.9%€84,478within the sector's middle half▲ 1.7%€82,383within the sector's middle half▼ 2.5%€78,770within the sector's middle half▼ 4.4%
Total assets€103,706below the sector's middle half▲ 40.4%€118,328below the sector's middle half▲ 14.1%€128,027below the sector's middle half▲ 8.2%€125,783within the sector's middle half▼ 1.8%€130,607within the sector's middle half▲ 3.8%
Debt€40,740▲ 66.0%€35,260▼ 13.5%€43,549▲ 23.5%€43,401▼ 0.3%€51,836▲ 19.4%
Working capital€15,846below the sector's middle half▲ 10.8%€53,661within the sector's middle half▲ 239%€37,901within the sector's middle half▼ 29.4%€44,566within the sector's middle half▲ 17.6%€59,969within the sector's middle half▲ 34.6%
Solvency60.7%within the sector's middle half▼ 6.1pp70.2%within the sector's middle half▲ 9.5pp66.0%within the sector's middle half▼ 4.2pp65.5%within the sector's middle half▼ 0.5pp60.3%within the sector's middle half▼ 5.2pp
Current ratio1.71within the sector's middle half▼ 0.144.34within the sector's middle half▲ 2.632.02within the sector's middle half▼ 2.322.06within the sector's middle half▲ 0.042.62within the sector's middle half▲ 0.56
Return on assets (ROA)13.1%within the sector's middle half▼ 23.3pp17.0%within the sector's middle half▲ 3.8pp1.1%below the sector's middle half▼ 15.9pp14.2%within the sector's middle half▲ 13.1pp12.5%within the sector's middle half▼ 1.7pp
above
within
below
the middle half (P25 to P75) of NACE 86, Human health activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result and balance sheet
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 9% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €130,607
Fixed assets
€33,661 ▼ 14.0%
Current assets
€96,945 ▲ 11.9%
Equity and liabilities €130,607
Equity
€78,770 ▼ 4.4%
Debt
€51,836 ▲ 19.4%
Debt's share of the balance-sheet total rises from 34.5% to 39.7%. Equity is lower and debt is higher.
Key figures and ratios
Key figures and ratios
EBITDA
€38,508▼
2024 · €41,461
Cash flow
€32,060▼
2024 · €34,383
Quick ratio
2.47▲
2024 · 1.91
Debt to equity
0.66▲
2024 · 0.53
ROE
20.8%▼
2024 · 21.7%
Interest coverage
31.20▲
2024 · 25.15
Debt ≤ 1 year
€36,976▼
2024 · €42,063
Debt > 1 year
€0▼
2024 · €1,278
Income taxes
€5,214▼
2024 · €5,841
Staff costs
€4,731▼
2024 · €4,930
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,975 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 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 26,975 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.
Filed annual accounts
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €69 | - |
| Remuneration, social security and pensions62 | €1,659 | - | €4,048 | €4,930 | €4,731 | ▼ 4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €15,196 | €15,768 | €14,275 | €16,478 | €15,673 | ▼ 4.9% |
| Other operating charges640/8 | €560 | €526 | €995 | €797 | €948 | ▲ 19.0% |
| Non-recurring operating charges66A | - | €5,643 | €0 | - | - | - |
| Gross operating margin9900 | €34,054 | €49,362 | €18,094 | €47,187 | €44,187 | ▼ 6.4% |
| Operating profit (loss)9901 | €16,639 | €27,424 | -€1,225 | €24,983 | €22,835 | ▼ 8.6% |
| Financial income75/76B | €522 | €98 | €4,534 | €411 | €0 | ▼ 100.0% |
| Recurring financial income75 | €522 | €98 | €11 | €411 | €0 | ▼ 100.0% |
| Non-recurring financial income76B | - | - | €4,523 | €0 | - | - |
| Financial charges65/66B | €878 | €1,557 | €1,341 | €1,649 | €1,234 | ▼ 25.1% |
| Recurring financial charges65 | €878 | €1,557 | €1,341 | €1,649 | €1,234 | ▼ 25.1% |
| Profit (loss) for the period before taxes9903 | €16,283 | €25,965 | €1,969 | €23,746 | €21,601 | ▼ 9.0% |
| Income taxes67/77 | €2,647 | €5,863 | €559 | €5,841 | €5,214 | ▼ 10.7% |
| Profit (loss) for the period9904 | €13,636 | €20,102 | €1,410 | €17,905 | €16,387 | ▼ 8.5% |
| Profit (loss) for the period to be appropriated9905 | €13,636 | €20,102 | €1,410 | €17,905 | €16,387 | ▼ 8.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €103,706 | €118,328 | €128,027 | €125,783 | €130,607 | ▲ 3.8% |
| Fixed assets21/28 | €65,442 | €48,597 | €52,965 | €39,154 | €33,661 | ▼ 14.0% |
| Tangible fixed assets22/27 | €65,442 | €48,597 | €52,965 | €39,154 | €33,661 | ▼ 14.0% |
| Land and buildings22 | €24,947 | €19,528 | €14,211 | €8,937 | €12,686 | ▲ 41.9% |
| Plant, machinery and equipment23 | €30,597 | €23,465 | €35,415 | €28,079 | €18,219 | ▼ 35.1% |
| Furniture and vehicles24 | €9,898 | €5,603 | €3,339 | €2,138 | €2,757 | ▲ 29.0% |
| Current assets29/58 | €38,264 | €69,731 | €75,062 | €86,630 | €96,945 | ▲ 11.9% |
| Stocks and contracts in progress3 | €2,524 | €1,785 | €7,472 | €6,170 | €5,618 | ▼ 8.9% |
| Stocks30/36 | €2,524 | €1,785 | €7,472 | €6,170 | €5,618 | ▼ 8.9% |
| Amounts receivable within one year40/41 | €22,576 | €23,474 | €33,743 | €13,001 | €7,405 | ▼ 43.0% |
| Trade receivables40 | €940 | €18,201 | €15,017 | €3,388 | €2,500 | ▼ 26.2% |
| Other amounts receivable41 | €21,636 | €5,273 | €18,726 | €9,613 | €4,905 | ▼ 49.0% |
| Cash at bank and in hand54/58 | €13,164 | €43,302 | €26,345 | €65,721 | €70,193 | ▲ 6.8% |
| Deferred charges and accrued income490/1 | - | €1,171 | €7,502 | €1,737 | €13,729 | ▲ 690% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €103,706 | €118,328 | €128,027 | €125,783 | €130,607 | ▲ 3.8% |
| Equity10/15 | €62,966 | €83,068 | €84,478 | €82,383 | €78,770 | ▼ 4.4% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €43,130 | €76,868 | €78,278 | €76,183 | €72,570 | ▼ 4.7% |
| Distributable reserves133 | €43,130 | €76,868 | €78,278 | €76,183 | €72,570 | ▼ 4.7% |
| Profit (loss) carried forward14 | €13,636 | - | - | €0 | €0 | - |
| Amounts payable17/49 | €40,740 | €35,260 | €43,549 | €43,401 | €51,836 | ▲ 19.4% |
| Amounts payable after more than one year17 | €18,322 | €11,814 | €6,361 | €1,278 | €0 | ▼ 100% |
| Financial debts170/4 | €18,322 | €11,814 | €6,361 | €1,278 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €22,418 | €16,070 | €37,161 | €42,063 | €36,976 | ▼ 12.1% |
| Current portion of amounts payable after more than one year42 | - | - | €0 | - | - | - |
| Financial debts43 | €10,271 | €6,508 | €5,035 | €5,083 | €1,278 | ▼ 74.9% |
| Credit institutions430/8 | €10,271 | €6,508 | €5,035 | €5,083 | €1,278 | ▼ 74.9% |
| Trade debts44 | €9,947 | €9,471 | €31,929 | €16,689 | €12,525 | ▼ 25.0% |
| Suppliers440/4 | €9,947 | €9,471 | €31,929 | €16,689 | €12,525 | ▼ 25.0% |
| Taxes, remuneration and social security45 | €2,200 | €91 | €197 | €299 | €0 | ▼ 100% |
| Taxes450/3 | - | €91 | €197 | €299 | €0 | ▼ 100% |
| Remuneration and social security454/9 | €2,200 | - | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €19,993 | €23,174 | ▲ 15.9% |
| Accrued charges and deferred income492/3 | - | €7,376 | €27 | €59 | €14,860 | ▲ 25,176% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,636 | €20,102 | €1,410 | €17,905 | €16,387 | ▼ 8.5% |
| + Depreciation and write-downs630 | €15,196 | €15,768 | €14,275 | €16,478 | €15,673 | ▼ 4.9% |
| Operating cash flow (approximation) | €28,832 | €35,869 | €15,685 | €34,383 | €32,060 | ▼ 6.8% |
| Investment in fixed assets (approximation) | - | €1,078 | -€18,644 | -€2,666 | -€10,180 | ▼ 282% |
| Change in cash | - | €30,138 | -€16,957 | €39,376 | €4,472 | ▼ 88.6% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
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Of 12,684 companies in this sector we hold annual accounts for 2,148. 1,916 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Timeline
11 eventsLatest 29-05-2026Next filing 31-07-2027
History
Acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
29-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
16-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
12-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €1,410 ▼93%
Net result drops to €1,410, the lowest in the series; recovery starts the following year.
24-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Liquidity triplescurrent ratio 4.34
Current ratio from 1.71 to 4.34; short-term debt falls from €22,418 to €16,070.
14-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
26-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2019net €26,909 ▲65.9%
Operating result €31,226, net result €26,909, both a record.
31-12
Financial
Liquidity quadruplescurrent ratio 1.85
Current ratio from 0.47 to 1.85; short-term debt falls from €19,839 to €16,859.
03-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Support & recognitions
1 funding sourceFlanders €666
Flemish government
€666
awarded · 2022 - 2024
Subsidies and aid
Flemish government
2022 to 2024 · 3 entries · €666 awarded · €873 paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | €99 | €99 |
| 2023 | 1 | €207 | €414 |
| 2022 | 1 | €360 | €360 |
Company details
Private limited company · founded 28-03-2018Year ends 31-12Peppol reachable1 site
Register details
Identification
Legal formPrivate limited company
Founded28-03-2018
Fiscal year end31-12
Activities, NACEBEL 2025
86951Physiotherapy
85510Sports and recreation education
96999Other personal services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0693688273
Also
9925:BE0693688273
Registered
15-12-2024
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Sites & property
Location & real-estate footprint
Registered office, Beveren-Kruibeke-Zwijndrecht · 1 establishment unit since 2018
Ground area
424 m²
Building footprint
210 m²
Parcel 46003B0404/00F002, Flanders. Linked by address, not a title deed.
1 establishment unit
Activate Kine
since 2018unit no. 2.274.704.141
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46003B0404/00F002 | Flanders | 424 m² | 1 · 210 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Subsidies How does this company compare with its sector?Sector benchmark
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