ACYCONSULT
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 13-03-2026 PDF all 23 filings
Turnover
≈ €140,000
Estimated: probably between €110,000 and €180,000
Total assets
€154,857▼ 4.0%
2024 · €161,315
Net result
€20,674▼ 51.2%
2024 · €42,348
Working capital
€77,785▼ 17.1%
2024 · €93,869
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€28,576
▼ 52.1%
2025
20182025
Net result
€20,674
▼ 51.2%
2025
middle half of the sector
20182025
Equity
€93,355
▼ 16.4%
2025
middle half of the sector
20182025
Total assets
€154,857
▼ 4.0%
2025
middle half of the sector
20182025
Debt
€61,502
▲ 23.9%
2025
20182025
Working capital
€77,785
▼ 17.1%
2025
middle half of the sector
20182025
Solvency
60.3%
▼ 8.9pp
2025
middle half of the sector
20182025
Current ratio
2.32
▼ 1.03
2025
middle half of the sector
20182025
Return on assets (ROA)
13.4%
▼ 12.9pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€1,438-€10,756▲ 648%€4,070▼ 62.2%€32,638▲ 702%€33,835▲ 3.7%€3,287▼ 90.3%€59,633▲ 18×€28,576▼ 52.1%
Net result€796-€7,481▲ 839%€4,113within the sector's middle half▼ 45.0%€24,238within the sector's middle half▲ 489%€24,448within the sector's middle half▲ 0.9%€1,964below the sector's middle half▼ 92.0%€42,348within the sector's middle half▲ 22×€20,674within the sector's middle half▼ 51.2%
Equity€36,569-€44,050▲ 20.5%€48,163within the sector's middle half▲ 9.3%€52,401within the sector's middle half▲ 8.8%€76,849within the sector's middle half▲ 46.7%€78,814within the sector's middle half▲ 2.6%€111,681within the sector's middle half▲ 41.7%€93,355within the sector's middle half▼ 16.4%
Total assets€51,584-€51,874▲ 0.6%€70,576within the sector's middle half▲ 36.1%€96,547within the sector's middle half▲ 36.8%€123,515within the sector's middle half▲ 27.9%€121,031within the sector's middle half▼ 2.0%€161,315within the sector's middle half▲ 33.3%€154,857within the sector's middle half▼ 4.0%
Debt€15,015-€7,824▼ 47.9%€22,413▲ 186%€44,146▲ 97.0%€46,666▲ 5.7%€42,217▼ 9.5%€49,635▲ 17.6%€61,502▲ 23.9%
Working capital€36,068-€43,799▲ 21.4%€48,163within the sector's middle half▲ 10.0%€51,997within the sector's middle half▲ 8.0%€56,989within the sector's middle half▲ 9.6%€61,780within the sector's middle half▲ 8.4%€93,869within the sector's middle half▲ 51.9%€77,785within the sector's middle half▼ 17.1%
Solvency70.9%-84.9%▲ 14.0pp68.2%within the sector's middle half▼ 16.7pp54.3%within the sector's middle half▼ 14.0pp62.2%within the sector's middle half▲ 7.9pp65.1%within the sector's middle half▲ 2.9pp69.2%within the sector's middle half▲ 4.1pp60.3%within the sector's middle half▼ 8.9pp
Current ratio3.40-6.60▲ 3.203.15within the sector's middle half▼ 3.452.18within the sector's middle half▼ 0.973.48within the sector's middle half▲ 1.303.42within the sector's middle half▼ 0.063.35within the sector's middle half▼ 0.082.32within the sector's middle half▼ 1.03
Return on assets (ROA)1.5%-14.4%▲ 12.9pp5.8%within the sector's middle half▼ 8.6pp25.1%within the sector's middle half▲ 19.3pp19.8%within the sector's middle half▼ 5.3pp1.6%below the sector's middle half▼ 18.2pp26.3%within the sector's middle half▲ 24.6pp13.4%within the sector's middle half▼ 12.9pp
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). 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 52% lower than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €154,857
Fixed assets
€18,002 ▼ 34.4%
Current assets
€136,855 ▲ 2.2%
Equity and liabilities €154,857
Equity
€93,355 ▼ 16.4%
Debt
€61,502 ▲ 23.9%
Debt's share of the balance-sheet total rises from 30.8% to 39.7%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€39,142▼
2024 · €69,399
Cash flow
€31,240▼
2024 · €52,113
Debt to equity
0.66▲
2024 · 0.44
ROE
22.1%▼
2024 · 37.9%
Interest coverage
86.41▼
2024 · 98.77
Debt ≤ 1 year
€59,070▲
2024 · €39,992
Debt > 1 year
€2,432▼
2024 · €9,642
Income taxes
€8,428▼
2024 · €17,052
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 | €596 | €49,703 | - | €3,462 | €1,114 |
| Depreciation and write-downs of the year | €192 | €6,566 | €9,783 | €9,765 | €10,566 |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €251 | €251 | €251 | €192 | €6,566 | €9,783 | €9,765 | €10,566 | ▲ 8.2% |
| Other operating charges640/8 | - | - | - | €402 | €3,309 | €1,094 | €1,094 | €837 | ▼ 23.5% |
| Gross operating margin9900 | €2,089 | €11,409 | €4,723 | €33,233 | €43,711 | €14,163 | €70,493 | €39,979 | ▼ 43.3% |
| Operating profit (loss)9901 | €1,438 | €10,756 | €4,070 | €32,638 | €33,835 | €3,287 | €59,633 | €28,576 | ▼ 52.1% |
| Financial income75/76B | - | - | - | €1 | - | - | €469 | €978 | ▲ 109% |
| Recurring financial income75 | - | - | - | €1 | - | - | €469 | €978 | ▲ 109% |
| Financial charges65/66B | - | - | - | €201 | €692 | €780 | €703 | €453 | ▼ 35.5% |
| Recurring financial charges65 | €283 | €37 | €139 | €201 | €692 | €780 | €703 | €453 | ▼ 35.5% |
| Profit (loss) for the period before taxes9903 | €1,155 | €10,720 | €3,931 | €32,438 | €33,144 | €2,507 | €59,399 | €29,102 | ▼ 51.0% |
| Income taxes67/77 | €359 | €3,239 | -€182 | €8,200 | €8,696 | €543 | €17,052 | €8,428 | ▼ 50.6% |
| Profit (loss) for the period9904 | €796 | €7,481 | €4,113 | €24,238 | €24,448 | €1,964 | €42,348 | €20,674 | ▼ 51.2% |
| Profit (loss) for the period to be appropriated9905 | €796 | €7,481 | €4,113 | €24,238 | €24,448 | €1,964 | €42,348 | €20,674 | ▼ 51.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €51,584 | €51,874 | €70,576 | €96,547 | €123,515 | €121,031 | €161,315 | €154,857 | ▼ 4.0% |
| Fixed assets21/28 | €501 | €251 | - | €404 | €43,540 | €33,757 | €27,454 | €18,002 | ▼ 34.4% |
| Tangible fixed assets22/27 | €501 | €251 | - | €404 | €43,540 | €33,757 | €27,454 | €18,002 | ▼ 34.4% |
| Land and buildings22 | - | - | - | - | €4,263 | €3,814 | €3,366 | €3,372 | ▲ 0.2% |
| Plant, machinery and equipment23 | - | - | - | - | €454 | €349 | €245 | €140 | ▼ 42.7% |
| Furniture and vehicles24 | - | - | - | €404 | €38,824 | €29,594 | €23,844 | €14,490 | ▼ 39.2% |
| Current assets29/58 | €51,082 | €51,623 | €70,576 | €96,143 | €79,974 | €87,273 | €133,861 | €136,855 | ▲ 2.2% |
| Amounts receivable within one year40/41 | €10,480 | €7,065 | €28,262 | €29,003 | €40,341 | €48,752 | €47,828 | €26,473 | ▼ 44.6% |
| Trade receivables40 | - | - | - | €29,003 | €40,341 | €45,399 | €35,933 | - | - |
| Other amounts receivable41 | - | - | - | - | - | €3,353 | €11,895 | €26,473 | ▲ 123% |
| Cash at bank and in hand54/58 | €39,060 | €44,558 | €42,314 | €67,140 | €39,634 | €37,864 | €85,358 | €109,761 | ▲ 28.6% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | €657 | €675 | €620 | ▼ 8.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €51,584 | €51,874 | €70,576 | €96,547 | €123,515 | €121,031 | €161,315 | €154,857 | ▼ 4.0% |
| Equity10/15 | €36,569 | €44,050 | €48,163 | €52,401 | €76,849 | €78,814 | €111,681 | €93,355 | ▼ 16.4% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €9,341 | €9,341 | €24,341 | €48,341 | €48,341 | €80,860 | €61,860 | ▼ 23.5% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €22,481 | €46,481 | €46,481 | €79,000 | €60,000 | ▼ 24.1% |
| Profit (loss) carried forward14 | €16,109 | €16,109 | €20,222 | €9,460 | €9,908 | €11,873 | €12,221 | €12,895 | ▲ 5.5% |
| Amounts payable17/49 | €15,015 | €7,824 | €22,413 | €44,146 | €46,666 | €42,217 | €49,635 | €61,502 | ▲ 23.9% |
| Amounts payable after more than one year17 | - | - | - | - | €23,680 | €16,724 | €9,642 | €2,432 | ▼ 74.8% |
| Financial debts170/4 | - | - | - | - | €23,680 | €16,724 | €9,642 | €2,432 | ▼ 74.8% |
| Amounts payable within one year42/48 | €15,015 | €7,824 | €22,413 | €44,146 | €22,986 | €25,493 | €39,992 | €59,070 | ▲ 47.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €6,832 | €6,956 | €7,082 | €7,210 | ▲ 1.8% |
| Trade debts44 | - | - | - | €92 | - | €113 | - | - | - |
| Suppliers440/4 | - | - | - | €92 | - | €113 | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | €18,115 | €15,170 | €14,016 | €23,430 | €12,860 | ▼ 45.1% |
| Taxes450/3 | - | - | - | €18,115 | €15,170 | €14,016 | €23,430 | €12,860 | ▼ 45.1% |
| Other amounts payable47/48 | - | - | - | €25,939 | €983 | €4,408 | €9,481 | €39,000 | ▲ 311% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €796 | €7,481 | €4,113 | €24,238 | €24,448 | €1,964 | €42,348 | €20,674 | ▼ 51.2% |
| + Depreciation and write-downs630 | €251 | €251 | €251 | €192 | €6,566 | €9,783 | €9,765 | €10,566 | ▲ 8.2% |
| Operating cash flow (approximation) | €1,047 | €7,731 | €4,364 | €24,430 | €31,015 | €11,748 | €52,113 | €31,240 | ▼ 40.1% |
| Investment in fixed assets (approximation) | - | €0 | - | - | -€49,703 | €0 | -€3,462 | -€1,114 | ▲ 67.8% |
| Change in cash | - | €5,498 | -€2,244 | €24,826 | -€27,506 | -€1,770 | €47,494 | €24,403 | ▼ 48.6% |
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, 31,368 companies had the same profile as ACYCONSULT has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
93.5%
was still going
5.9%
stopped otherwise
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ACYCONSULT 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 31,368 companies, not a prediction for ACYCONSULT. 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 23 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 13-03-2026 | 2026-00053993 | |
| 31-12-2024 | micro format | 30-04-2025 | 2025-00085211 | |
| 31-12-2023 | micro format | 05-04-2024 | 2024-00058075 | |
| 31-12-2022 | micro format | 17-03-2023 | 2023-00041372 | |
| 31-12-2021 | micro format | 17-05-2022 | 2022-20029113 | |
| 31-12-2020 | micro format | 11-03-2021 | 2021-07500218 | |
| 31-12-2019 | micro format | 21-03-2020 | 2020-07500311 | |
| 31-12-2018 | micro format | 06-03-2019 | 2019-06600064 | |
| 31-12-2017 | micro format | 13-03-2018 | 2018-06900128 | |
| 31-12-2016 | micro format | 03-04-2017 | 2017-08700367 |