Equity
Debts exceed assets in financial year 2025.
Debts exceed assets in financial year 2025.
Every financial year from 2022 to 2025 closed with a loss. 2025 was the heaviest.
€637,744 of the debts are secured on the company's own assets. In 2022 that was €2.9m.
Activet pays its suppliers 2 days earlier than in 2024. Customers pay 13 days earlier.
The last five annual accounts were filed 10 to 45 days before the end of the period.
Lower solvency than 95% of companies in wholesale trade. Sector median 43.8% · 3,761 companies.
In July 2024, 129 companies had the same profile as Activet has now. Each dot is one company, two years later.
Another 0.8% stopped without a precise date, possibly only after those two years.
The method was tested on the 497,331 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 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
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 129 companies, not a prediction for Activet. 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.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
| Company | ||||
|---|---|---|---|---|
| Activet Kontich | €22.0m | 0.5% | -7.2% | - |
| CONTINENTAL CARBON COMPANY EUROPE Wavre | €22.3m | 1.7% | 20.5% | 2 |
| CALIBRE EUROPE Brussels | €14.3m | 4.0% | 67.6% | - |
| CARDOLITE SPECIALTY CHEMICALS EUROPE Ghent | €29.3m | 6.8% | 20.6% | 3.8 |
| BLOOMCHEMAG Mol | €12.7m | 0.9% | 16.1% | - |
| Burnguard Willebroek | €28.1m | 14.1% | 56.9% | 3.6 |
| Trinseo Belgium Tessenderlo-Ham | €28.0m | 2.8% | 76.5% | 61.8 |
Grey: the largest companies of the sector (wholesale trade (NACE 46)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as Activet: wholesale of industrial chemicals (NACE 46851). They are comparable in size and age: total assets between €3.4m and €23m, founded between 2009 and 2016.
Activet has existed since 2012. Turnover grew from €7.6m in 2013 to €22.0m in 2025.
Solvency fell in 2025 from 0.7% to -7.2% because of the loss and higher debts to suppliers.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Lower than 95% of 3,761 companies in 2025.
Higher than 12% of 3,727 companies in 2025.
Higher than 8% of 3,758 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: middle half · Working capital: bottom quarter
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||
20/58 |
6.7m | 6.6m | 6.4m | 7.3m | 7.7m | 7.4m | 8.1m | 6.4m | 4.2m | 5.1m | 8.0m | 6.5m | 3.0m | |
29/58 |
6.7m | 6.6m | 6.4m | 7.3m | 7.7m | 7.4m | 8.1m | 6.4m | 4.2m | 5.1m | 8.0m | 6.5m | 3.0m | |
3 |
2.4m | 2.7m | 2.4m | 3.8m | 3.0m | 4.8m | 3.2m | 4.0m | 2.2m | 2.8m | 4.6m | 3.2m | 1.7m | |
30/36 |
2.4m | 2.7m | 2.4m | 3.8m | 3.0m | 4.8m | 3.2m | 4.0m | 2.2m | 2.8m | 4.6m | 3.2m | 1.7m | |
34 |
2.4m | 2.7m | 2.4m | 3.8m | 3.0m | 4.8m | 3.2m | 4.0m | 2.2m | 2.8m | 4.6m | 3.2m | 1.7m | |
40/41 |
4.3m | 3.9m | 3.8m | 3.4m | 4.7m | 2.6m | 4.9m | 2.3m | 2.0m | 2.3m | 3.4m | 2.3m | 1.3m | |
40 |
4.3m | 3.9m | 3.8m | 3.1m | 4.7m | 2.6m | 4.9m | 2.3m | 2.0m | 2.3m | 3.4m | 2.3m | 1.2m | |
41 |
5,929 | 11,081 | 2,189 | 300,023 | - | 3,220 | 3,402 | 12,081 | 8,241 | 8,890 | - | 34,930 | 37,152 | |
54/58 |
498 | 490 | 200,092 | 67,284 | 19,444 | 381 | 385 | 8,866 | 45,029 | 49,313 | 17,151 | 968,092 | 76,067 | |
490/1 |
- | - | - | - | - | - | 103,675 | - | - | - | 3,600 | 54,857 | - | |
| Balance sheet: equity and liabilities | ||||||||||||||
10/49 |
6.7m | 6.6m | 6.4m | 7.3m | 7.7m | 7.4m | 8.1m | 6.4m | 4.2m | 5.1m | 8.0m | 6.5m | 3.0m | |
10/15 |
-479,511 | 48,730 | 123,506 | 228,692 | 708,127 | 393,083 | 200,673 | 356,387 | 257,546 | 184,538 | 120,826 | 174,508 | 112,307 | |
10/11 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
13 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
130/1 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
- | - | - | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | |
133 |
1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | |
14 |
-487,571 | 40,670 | 115,446 | 220,632 | 700,067 | 385,023 | 192,613 | 348,327 | 249,486 | 176,478 | 112,766 | 166,448 | 104,247 | |
17/49 |
7.2m | 6.5m | 6.2m | 7.1m | 7.0m | 7.0m | 7.9m | 6.0m | 4.0m | 4.9m | 7.9m | 6.3m | 2.9m | |
42/48 |
6.9m | 6.5m | 6.2m | 7.1m | 7.0m | 7.0m | 7.8m | 6.0m | 4.0m | 4.9m | 7.8m | 6.3m | 2.9m | |
43 |
637,744 | 2.1m | 1.2m | 2.9m | 2.0m | 2.6m | 6.5m | 496,651 | 13,282 | 271,420 | 484,584 | 1.0m | 442,684 | |
430/8 |
637,744 | 2.1m | 1.2m | 2.9m | 2.0m | 2.6m | 6.5m | 496,651 | 13,282 | 271,420 | 484,584 | 1.0m | 442,684 | |
44 |
1.8m | 1.4m | 1.8m | 1.0m | 1.7m | 1.4m | 1.4m | 1.6m | 1.6m | 787,442 | 1.7m | 2.5m | 679,232 | |
440/4 |
1.8m | 1.4m | 1.8m | 1.0m | 1.7m | 1.4m | 1.4m | 1.6m | 1.6m | 787,442 | 1.7m | 2.5m | 679,232 | |
45 |
- | - | 24,136 | 20,015 | 373,794 | 109,179 | - | 84,286 | 63,365 | 63,936 | 223,884 | 65,584 | 54,512 | |
450/3 |
- | - | 24,136 | 20,015 | 373,794 | 109,179 | - | 84,286 | 63,365 | 63,936 | 223,884 | 65,584 | 54,512 | |
47/48 |
4.5m | 3.0m | 3.2m | 3.2m | 2.9m | 2.9m | 12,886 | 3.8m | 2.3m | 3.8m | 5.4m | 2.7m | 1.7m | |
492/3 |
310,956 | 16,000 | 25,325 | 15,388 | 15,000 | 14,999 | 63,000 | 2,000 | 12,000 | 7,000 | 13,896 | 2,070 | 11,789 | |
| Income statement | ||||||||||||||
70/76A |
22.0m | 16.7m | 19.2m | 18.8m | 21.4m | 17.2m | 21.6m | 14.6m | 13.6m | 19.0m | 19.3m | 10.8m | 7.6m | |
70 |
22.0m | 16.7m | 19.2m | 18.8m | 21.4m | 17.2m | 21.6m | 14.6m | 13.6m | 19.0m | 19.3m | 10.8m | 7.6m | |
60/66A |
21.9m | 16.7m | 19.2m | 18.6m | 20.8m | 16.8m | 21.2m | 14.2m | 13.3m | 18.7m | 17.8m | 10.5m | 7.3m | |
60 |
20.8m | 15.6m | 18.2m | 17.7m | 20.0m | 16.2m | 20.6m | 13.6m | 12.7m | 18.4m | 17.6m | 10.4m | 7.2m | |
600/8 |
20.6m | 15.9m | 16.7m | 18.5m | 18.2m | 17.8m | 19.7m | 15.4m | 12.1m | 16.6m | 19.1m | 11.9m | 8.9m | |
609 |
259,819 | -290,205 | 1.4m | -824,110 | 1.8m | -1.6m | 865,982 | -1.8m | 602,594 | 1.8m | -1.4m | -1.5m | -1.7m | |
61 |
1.1m | 1.0m | 979,570 | 903,201 | 819,665 | 677,012 | 676,832 | 631,314 | 529,580 | 252,908 | 151,838 | 79,489 | 57,707 | |
631/4 |
-11,311 | - | 81,388 | - | - | - | - | - | - | - | - | - | - | |
640/8 |
1,088 | 1,078 | 977 | - | 1,791 | 266 | 1,128 | 1,058 | 868 | 1,053 | - | 92 | 2,866 | |
9901 |
120,627 | 34,246 | -64,767 | 207,812 | 613,715 | 386,576 | 397,586 | 448,763 | 339,984 | 299,291 | 1.5m | 304,935 | 338,049 | |
75/76B |
45,353 | 271,977 | 409,874 | 133,897 | 109,296 | 373,592 | 55,947 | 125,233 | 59,609 | 125,926 | 12,022 | 10,326 | 15,734 | |
75 |
45,353 | 271,977 | 409,874 | 133,897 | 109,296 | 373,592 | 55,947 | 125,233 | 59,609 | 125,926 | 12,022 | 10,326 | 15,734 | |
751 |
45,353 | 271,977 | 409,874 | 133,897 | 109,296 | 373,592 | 7,943 | 3,875 | 11,188 | 19,693 | 12,022 | 10,326 | 15,734 | |
752/9 |
- | - | - | - | - | - | 48,004 | 121,358 | 48,421 | 106,233 | - | - | - | |
65/66B |
694,220 | 380,998 | 450,293 | 821,144 | 156,962 | 258,579 | 609,246 | 330,869 | 213,220 | 237,568 | 830,460 | 123,476 | 193,164 | |
65 |
694,220 | 380,998 | 450,293 | 821,144 | 156,962 | 258,579 | 609,246 | 330,869 | 213,220 | 237,568 | 830,460 | 123,476 | 193,164 | |
650 |
694,220 | 380,998 | 207,586 | 154,461 | 108,538 | 252,974 | 308,765 | 146,235 | 111,275 | 7,549 | 4,341 | 2,280 | 1,833 | |
652/9 |
- | - | 242,708 | 666,683 | 48,424 | 5,605 | 300,481 | 184,634 | 101,945 | 230,019 | 826,119 | 121,196 | 191,331 | |
9903 |
-528,241 | -74,776 | -105,187 | -479,434 | 566,049 | 501,588 | -155,714 | 243,127 | 186,373 | 187,648 | 642,971 | 191,785 | 160,619 | |
67/77 |
- | - | - | - | 151,005 | 109,179 | - | 84,286 | 63,365 | 63,937 | 220,653 | 65,584 | 54,512 | |
670/3 |
- | - | - | - | 151,005 | 109,179 | - | 84,286 | 63,365 | 63,937 | 220,653 | 65,584 | 54,512 | |
9904 |
-528,241 | -74,776 | -105,187 | -479,434 | 415,044 | 392,409 | -155,714 | 158,841 | 123,008 | 123,712 | 422,318 | 126,201 | 106,107 | |
9905 |
-528,241 | -74,776 | -105,187 | -479,434 | 415,044 | 392,409 | -155,714 | 158,841 | 123,008 | 123,712 | 422,318 | 126,201 | 106,107 | |
| Appropriation of the result | ||||||||||||||
9906 |
-487,571 | 40,670 | 115,446 | 220,632 | 800,067 | 585,023 | 192,613 | 408,327 | 299,486 | 236,478 | 588,766 | 230,448 | 106,107 | |
14P |
40,670 | 115,446 | 220,632 | 700,067 | - | - | - | - | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | - | - | - | - | - | 1,860 | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | 1,860 | |
694/7 |
- | - | - | - | 100,000 | 200,000 | - | 60,000 | 50,000 | 60,000 | 476,000 | 64,000 | - | |
694 |
- | - | - | - | 100,000 | 200,000 | - | 60,000 | 50,000 | 60,000 | 476,000 | 64,000 | - | |
| Document | ||||||||||||||
The notes to these accounts have 21 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 20-04-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | full format | 20-04-2026 | 2026-00083320 | |
| 30-09-2024 | full format | 11-04-2025 | 2025-00067833 | |
| 30-09-2023 | full format | 20-03-2024 | 2024-00046043 | |
| 30-09-2022 | full format | 20-04-2023 | 2023-00061817 | |
| 30-09-2021 | full format | 16-03-2022 | 2022-07700264 | |
| 30-09-2020 | full format | 27-04-2021 | 2021-11200559 | |
| 30-09-2019 | full format | 26-03-2020 | 2020-07600135 | |
| 30-09-2018 | full format | 09-04-2019 | 2019-09500318 | |
| 30-09-2017 | full format | 15-03-2018 | 2018-06800242 | |
| 30-09-2016 | full format | 20-04-2017 | 2017-09500452 | |
| 30-09-2015 | full format | 15-03-2016 | 2016-06300252 | |
| 30-09-2014 | full format | 30-03-2015 | 2015-07500532 | |
| 30-09-2013 | full format | 12-03-2014 | 2014-06100565 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 8 | -199,602 | 132,808 | 47,840 | 19,063 | -4 | -8,481 | -36,163 | -4,284 | 32,162 | -950,941 | 892,024 | - | ||
| -168,554 | 64,730 | 148,830 | 244,080 | 723,127 | 408,082 | 263,673 | 358,387 | 269,546 | 191,538 | 134,722 | 176,578 | 124,096 | ||
| 0.5% | 0.2% | -0.3% | 1.1% | 2.9% | 2.2% | 1.8% | 3.1% | 2.5% | 1.6% | 7.6% | 2.8% | 4.4% | ||
| -7.2% | 0.7% | 1.9% | 3.1% | 9.2% | 5.3% | 2.5% | 5.6% | 6.1% | 3.6% | 1.5% | 2.7% | 3.7% | ||
| 0.98 | 1.01 | 1.02 | 1.03 | 1.10 | 1.06 | 1.03 | 1.06 | 1.07 | 1.04 | 1.02 | 1.03 | 1.04 | ||
| 0.62 | 0.60 | 0.64 | 0.49 | 0.67 | 0.37 | 0.63 | 0.39 | 0.51 | 0.47 | 0.43 | 0.52 | 0.46 | ||
| - | - | 50.46 | 30.95 | 9.87 | 17.86 | 39.42 | 16.86 | 15.43 | 26.79 | 65.06 | 36.35 | 26.07 | ||
| - | -153.4% | -85.2% | -209.6% | 58.6% | 99.8% | -77.6% | 44.6% | 47.8% | 67.0% | 349.5% | 72.3% | 94.5% | ||
| -7.9% | -1.1% | -1.7% | -6.6% | 5.4% | 5.3% | -1.9% | 2.5% | 2.9% | 2.4% | 5.3% | 1.9% | 3.5% | ||
| 71 days | 84 days | 72 days | 60 days | 80 days | 55 days | 82 days | 58 days | 53 days | 44 days | 64 days | 77 days | 59 days | ||
| 29 days | 31 days | 34 days | 20 days | 30 days | 30 days | 23 days | 41 days | 44 days | 15 days | 35 days | 88 days | 34 days |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 |
|---|---|---|---|---|
| Debts secured on the company's own assets | €637,744 | €2.1m | €1.2m | €2.9m |
| €637,744 | €2.1m | €1.2m | €2.9m |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
The auditor is .
| Item | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 |
|---|---|---|---|---|
| Fee for the audit | €5,950 | €5,600 | €5,600 | €5,600 |
Source: notes to the 2022 to 2025 annual accounts (relations with the auditor)
The operating result for 2025 is over 3.5 times that of 2024 and the highest since 2022. It is the second rise in a row, after the fall in 2023.
Equity is negative. Debt (€7.2m) exceeds the balance-sheet total (€6.7m).
Deed of 05-12-2025Reappointment: (statutory auditor)Permanent representative: · Board meeting of 13-06-2025
Older annual accounts also name 3 natural persons.
Source: shareholder structure in its own accounts, parent in its own accounts
The network starts from the directors of Activet. Every other company they run is a node.
Deadline for the 2026 accounts: 30-04-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Prins Boudewijnlaan 21 registered office 2550 Kontich 46120 Wholesale trade | 15-06-2012 | 2.222.720.752 |
If something looks wrong or is missing, please tell us.