AK
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 31-07-2026 at the NBB all 3 filings
Every figure per financial year
The operating result for 2025 is a loss of €14,675, larger than the loss of €173 in 2024. It is the lowest result since 2023.
Turnover and EBIT margin are not published. The micro format does not require them.
Staff
| Item | 31-12-2023 |
|---|---|
| Employees at the balance-sheet date | 2 |
| full-time | 1 |
| part-time | 1 |
| in full-time equivalents | 1.5 |
| Average over the year, in full-time equivalents | 1.7 |
| On a permanent contract | 1 |
| Joined | 8 |
| Left | 7 |
Source: social balance sheet in the 2023 annual accounts
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | €1,650 | - | - |
| Financial fixed assets | €5,850 | - | - |
| Depreciation and write-downs of the year | €800 | €825 | €25 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Remuneration, social security and pensions62 | €18,519 | €14,592 | €4,403 | ▼ 69.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €800 | €825 | €25 | ▼ 97.0% |
| Other operating charges640/8 | €320 | €1,080 | €1,249 | ▲ 15.6% |
| Gross operating margin9900 | €32,075 | €16,323 | -€8,998 | - |
| Operating profit (loss)9901 | €12,436 | -€173 | -€14,675 | ▼ 8,363% |
| Financial income75/76B | - | €203 | €38 | ▼ 81.2% |
| Recurring financial income75 | - | €203 | €38 | ▼ 81.2% |
| Non-recurring financial income76B | - | €203 | - | - |
| Financial charges65/66B | €13 | €8,809 | €175 | ▼ 98.0% |
| Recurring financial charges65 | €13 | €247 | €175 | ▼ 28.9% |
| Non-recurring financial charges66B | - | €8,562 | - | - |
| Profit (loss) for the period before taxes9903 | €12,424 | -€8,779 | -€14,812 | ▼ 68.7% |
| Income taxes67/77 | €2,500 | €209 | - | - |
| Profit (loss) for the period9904 | €9,924 | -€8,989 | -€14,812 | ▼ 64.8% |
| Profit (loss) for the period to be appropriated9905 | €9,924 | -€8,989 | -€14,812 | ▼ 64.8% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €43,885 | €25,444 | €18,845 | ▼ 25.9% |
| Fixed assets21/28 | €6,700 | €5,875 | €5,850 | ▼ 0.4% |
| Tangible fixed assets22/27 | €850 | €25 | - | - |
| Furniture and vehicles24 | €850 | €25 | - | - |
| Financial fixed assets28 | €5,850 | €5,850 | €5,850 | = |
| Current assets29/58 | €37,185 | €19,569 | €12,995 | ▼ 33.6% |
| Stocks and contracts in progress3 | €4,755 | €5,769 | €6,155 | ▲ 6.7% |
| Stocks30/36 | €4,755 | €5,769 | €6,155 | ▲ 6.7% |
| Amounts receivable within one year40/41 | €5,396 | €1,529 | €2,372 | ▲ 55.2% |
| Trade receivables40 | €3,987 | €1,357 | - | - |
| Other amounts receivable41 | €1,410 | €172 | €2,372 | ▲ 14× |
| Cash at bank and in hand54/58 | €27,034 | €12,272 | €4,467 | ▼ 63.6% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €43,885 | €25,444 | €18,845 | ▼ 25.9% |
| Equity10/15 | €17,424 | €8,435 | -€6,377 | - |
| Contributions10/11 | €7,500 | €7,500 | €7,500 | = |
| Reserves13 | €9,924 | €935 | - | - |
| Distributable reserves133 | €9,924 | €935 | - | - |
| Profit (loss) carried forward14 | - | - | -€13,877 | - |
| Amounts payable17/49 | €26,461 | €17,009 | €25,222 | ▲ 48.3% |
| Amounts payable within one year42/48 | €26,461 | €17,009 | €25,222 | ▲ 48.3% |
| Trade debts44 | €2,359 | €10,777 | €3,970 | ▼ 63.2% |
| Suppliers440/4 | €2,359 | €10,777 | €3,970 | ▼ 63.2% |
| Taxes, remuneration and social security45 | €5,603 | €2,267 | €1,288 | ▼ 43.2% |
| Taxes450/3 | €2,500 | €1,288 | €1,288 | = |
| Remuneration and social security454/9 | €3,103 | €979 | - | - |
| Other amounts payable47/48 | €18,499 | €3,965 | €19,965 | ▲ 404% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €9,924 | -€8,989 | -€14,812 | ▼ 64.8% |
| + Depreciation and write-downs630 | €800 | €825 | €25 | ▼ 97.0% |
| Operating cash flow (approximation) | €10,724 | -€8,164 | -€14,787 | ▼ 81.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - |
| Change in cash | - | -€14,762 | -€7,804 | ▲ 47.1% |
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, 7,639 companies had the same profile as AK has now. Two years later, 84.8% were still going and 8.8% had gone bankrupt.
- Micro
- 2 to 5 years old
- negative equity
- a loss of 10% of the balance sheet or more
Another 0.7% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of AK itself: 3.4% 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 7,639 companies, not a prediction for AK. 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.