Ak Star
ActiveSummary
The computed 12-month bankruptcy probability of Ak Star is 2.3% (moderate). The 2025 annual accounts show negative equity (-€61,891) and a net result of -€24,854. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 13% of 5,845 sector peers (NACE 49, financial year 2025). The company has been active since 1999 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
- Staff
- 1 FTE
- Equity
- -€61,891
- Loss
- -€24,854
Why 51raises riskLast filed accounts filed 77 days late; 3 of the last 3 lateSector: Land transport and transport via pipelines (NACE 49)Negative equity -€61,891lowers riskSize: total assets €612,948Show the evidence
Checked score
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 49, micro): better than 12% on solvency, 56% on liquidity, 35% on profitability and 9% on growth.
The bankruptcy probability was computed on 28-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 76 days after the deadline; the sector median (NACE 49) for financial year 2024 is on the deadline day, and 49% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Resignations: HAMI, RADWAN (director) and AKGUNDOGDU…Appointment: AKGUNDOGDU Deniz (director) ·…
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, micro format
2025 annual accounts filed late (77 days) Filed on 16 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00564141.
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €24,427 in 2025 against €30,365 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 49, Land transport and transport via pipelines: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Peer companies
Historical observationOf the 2,796 companies that looked in July 2024 the way this one looks now, 2.1% went bankrupt within 24 months and 90.3% are still going.
- Micro
- 20 years or older
- negative equity
- a small loss
A further 1.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.3% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 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% | 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 2,796 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €1,973 | €23,654 | €23,007 | €23,291 | €24,033 | ▲ 3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €58,501 | €51,624 | €27,608 | €27,608 | €27,608 | €26,964 | €27,521 | €28,105 | ▲ 2.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €37,712 | €37,712 | €11,207 | €37,712 | €37,712 | = |
| Other operating charges640/8 | - | - | - | €12,993 | €13,049 | €20,756 | €15,697 | €16,238 | ▲ 3.4% |
| Gross operating margin9900 | €97,333 | €82,754 | €98,019 | €93,312 | €103,222 | €94,320 | €73,855 | €81,661 | ▲ 10.6% |
| Operating profit (loss)9901 | €20,983 | -€19,679 | €12,659 | €13,026 | €1,198 | €12,387 | -€30,365 | -€24,427 | ▲ 19.6% |
| Financial income75/76B | - | - | - | - | €1 | €0 | €400 | €6 | ▼ 98.5% |
| Recurring financial income75 | - | - | - | - | €1 | €0 | €400 | €6 | ▼ 98.5% |
| Financial charges65/66B | - | - | - | €6,636 | €1,474 | €1,413 | €208 | €433 | ▲ 109% |
| Recurring financial charges65 | €14,192 | €13,037 | €6,401 | €6,636 | €1,474 | €1,413 | €208 | €433 | ▲ 109% |
| Profit (loss) for the period before taxes9903 | €6,791 | -€32,716 | €6,258 | €6,390 | -€275 | €10,974 | -€30,173 | -€24,854 | ▲ 17.6% |
| Income taxes67/77 | €282 | - | - | - | - | - | - | - | - |
| Profit (loss) for the period9904 | €6,509 | -€32,716 | €6,258 | €6,390 | -€275 | €10,974 | -€30,173 | -€24,854 | ▲ 17.6% |
| Profit (loss) for the period to be appropriated9905 | €6,509 | -€32,716 | €6,258 | €6,390 | -€275 | €10,974 | -€30,173 | -€24,854 | ▲ 17.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €902,817 | €806,751 | €757,637 | €689,380 | €658,194 | €658,575 | €624,390 | €612,948 | ▼ 1.8% |
| Fixed assets21/28 | €512,517 | €460,893 | €433,285 | €405,677 | €378,433 | €361,859 | €343,978 | €365,873 | ▲ 6.4% |
| Tangible fixed assets22/27 | €512,517 | €460,893 | €433,285 | €405,677 | €378,070 | €361,496 | €343,615 | €365,510 | ▲ 6.4% |
| Land and buildings22 | - | - | - | €361,276 | €344,948 | €328,620 | €312,292 | €295,964 | ▼ 5.2% |
| Plant, machinery and equipment23 | - | - | - | €44,401 | €33,122 | €32,876 | €31,323 | €69,546 | ▲ 122% |
| Financial fixed assets28 | - | - | - | - | €363 | €363 | €363 | €363 | = |
| Current assets29/58 | €390,300 | €345,858 | €324,352 | €283,703 | €279,762 | €296,716 | €280,413 | €247,075 | ▼ 11.9% |
| Amounts receivable after more than one year29 | - | - | - | €263,984 | €226,272 | €226,272 | €188,560 | €150,848 | ▼ 20.0% |
| Other amounts receivable291 | - | - | - | €263,984 | €226,272 | €226,272 | €188,560 | €150,848 | ▼ 20.0% |
| Amounts receivable within one year40/41 | - | €207 | €13,744 | €16,907 | €20,191 | €3,248 | €84,128 | €87,737 | ▲ 4.3% |
| Trade receivables40 | - | - | - | €5,700 | €5,700 | €0 | €50,000 | €22,439 | ▼ 55.1% |
| Other amounts receivable41 | - | - | - | €11,207 | €14,491 | €3,248 | €34,128 | €65,298 | ▲ 91.3% |
| Cash at bank and in hand54/58 | €13,180 | €6,243 | €8,912 | €2,226 | €23,838 | €48,674 | €5,739 | €6,243 | ▲ 8.8% |
| Deferred charges and accrued income490/1 | - | - | - | €586 | €9,461 | €18,521 | €1,985 | €2,248 | ▲ 13.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €902,817 | €806,751 | €757,637 | €689,380 | €658,194 | €658,575 | €624,390 | €612,948 | ▼ 1.8% |
| Equity10/15 | €2,505 | -€30,211 | -€23,953 | -€17,563 | -€17,838 | -€6,864 | -€37,037 | -€61,891 | ▼ 67.1% |
| Contributions10/11 | €34,705 | €34,705 | - | €34,705 | €34,705 | €34,705 | €34,705 | €34,705 | = |
| Reserves13 | €1,122 | €1,122 | €1,122 | €1,122 | €1,122 | €1,122 | €1,122 | €0 | ▼ 100% |
| Non-distributable reserves130/1 | - | - | - | €95 | €95 | €95 | €95 | €0 | ▼ 100% |
| Reserves not available under the articles1311 | - | - | - | €95 | €95 | €95 | €95 | €0 | ▼ 100% |
| Distributable reserves133 | - | - | - | €1,027 | €1,026 | €1,026 | €1,026 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | -€33,322 | -€66,038 | -€59,780 | -€53,390 | -€53,665 | -€42,690 | -€72,864 | -€96,596 | ▼ 32.6% |
| Amounts payable17/49 | €900,312 | €836,962 | €781,590 | €706,943 | €676,032 | €665,438 | €661,427 | €674,839 | ▲ 2.0% |
| Amounts payable after more than one year17 | €787,523 | €716,811 | €640,087 | €652,476 | €651,567 | €651,567 | €653,399 | €648,799 | ▼ 0.7% |
| Other amounts payable178/9 | - | - | - | €652,476 | €651,567 | €651,567 | €653,399 | €648,799 | ▼ 0.7% |
| Amounts payable within one year42/48 | €112,789 | €112,788 | €141,070 | €54,088 | €24,087 | €13,493 | €8,028 | €26,040 | ▲ 224% |
| Current portion of amounts payable after more than one year42 | - | - | - | €10,229 | - | - | - | - | - |
| Financial debts43 | - | - | - | €24 | €61 | €0 | - | - | - |
| Credit institutions430/8 | - | - | - | €24 | €61 | €0 | - | - | - |
| Trade debts44 | €35,435 | €33,969 | €37,960 | €41,862 | €18,961 | €7,957 | €2,332 | €21,766 | ▲ 833% |
| Suppliers440/4 | - | - | - | €41,862 | €18,961 | €7,957 | €2,332 | €21,766 | ▲ 833% |
| Taxes, remuneration and social security45 | - | - | - | €1,973 | €5,065 | €5,536 | €5,696 | €4,275 | ▼ 25.0% |
| Remuneration and social security454/9 | - | - | - | €1,973 | €5,065 | €5,536 | €5,696 | €4,275 | ▼ 25.0% |
| Accrued charges and deferred income492/3 | - | - | - | €379 | €379 | €379 | €0 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,509 | -€32,716 | €6,258 | €6,390 | -€275 | €10,974 | -€30,173 | -€24,854 | ▲ 17.6% |
| + Depreciation and write-downs630 | €58,501 | €51,624 | €27,608 | €27,608 | €27,608 | €26,964 | €27,521 | €28,105 | ▲ 2.1% |
| Operating cash flow (approximation) | €65,010 | €18,908 | €33,866 | €33,998 | €27,333 | €37,938 | -€2,652 | €3,251 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€364 | -€10,390 | -€9,640 | -€50,000 | ▼ 419% |
| Change in cash | - | -€6,937 | €2,669 | -€6,686 | €21,612 | €24,837 | -€42,935 | €503 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 26 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 16-10-2026 | 2026-00564141 |
| 31-12-2024 | micro format | 15-10-2025 | 2025-00542768 |
| 31-12-2023 | micro format | 30-09-2024 | 2024-00493011 |
| 31-12-2022 | micro format | 13-10-2023 | 2023-00489824 |
| 31-12-2021 | micro format | 20-10-2022 | 2022-20469708 |
| 31-12-2020 | micro format | 30-09-2021 | 2021-70200381 |
| 31-12-2019 | micro format | 09-11-2020 | 2020-69500441 |
| 31-12-2018 | micro format | 17-12-2019 | 2019-76400383 |
| 31-12-2017 | micro format | 19-04-2019 | 2019-10400249 |
| 31-12-2016 | micro format | 27-12-2017 | 2017-73400173 |
Similar companies · same sector and region
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| AKGUNDOGDU Deniz |
|
| HAMI, RADWAN |
|
Owners and capital
Capital and shareholders
- 12-01-2026 Capital stated in the deed · 2,000 shares
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
12-01
Gazette deed
Resignations: HAMI, RADWAN (director) and AKGUNDOGDU Deniz (director)Appointment: AKGUNDOGDU Deniz (director) · Registered office clause · Power of attorney13 facts ▸
- Director resignation, HAMI, RADWAN (director)
- Director resignation, AKGUNDOGDU Deniz (director)
- Director appointment, AKGUNDOGDU Deniz (director)
- Registered office clause, “Jean Stasstraat 41,1060 Sint-Gillis (bij-Brussel), statutaire vermelding van gewest volstaat” (deed in Dutch)
- Power of attorney, WARFID
- Power of attorney
- Power of attorney, Frederik Vandenbriele
- General meeting, 16-12-2025
- Other provision, “onderwerpen aan W.V.V., statuten nog niet aangepast” (deed in Dutch)
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening, eigen vermogensrekening niet-opgevraagde inbrengen” (deed in Dutch)
- Other provision, “opheffing statutair onbeschikbare eigen vermogensrekening, middelen beschikbaar voor uitkering” (deed in Dutch)
- Amendment of the articles
- +1 further fact in this act
Show earlier events
About the unread acts
Of the 5 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 4 have not been read yet: what they contain is neither established nor disproved here.
Register details
No listing in the Peppol Directory under this enterprise or VAT number. That proves nothing: being listed there is voluntary.
What can you do?
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 29 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21013B0018/00W002 | Brussels | 422 m² | 1 · 284 m² | 21.8 m · 6 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “Het beheren van een onroerend patrimonium en het valoriseren van dit patrimonium door het stellen van alle beheersdaden,ondermeer…” (deed in Dutch)
10 activities (deed in Dutch)
- Het beheren van een onroerend patrimonium en het valoriseren van dit patrimonium door het stellen van alle beheersdaden,ondermeer aankoop,verkoop,verhuren,in huur nemen,ruilen,oprichten,bouwwerken laten uitvoeren,dit alles in de meest ruime zin,alsmede alle handelingen die rechtstreeks of onrechtstreeks met dit doel in verband staan en die van aard zijn de opbrengst van de onroerende goederen te bevorderen. Deze opsomming is louter exemplatief en geenszins beperkend.
- Het verwerven,vervreemden en beheren van beleggingsgoederen allerhande,zowel roerend als onroerende.
- Het nemen en beheren van belangen en participatief in ondernemingen en vennootschappen.
- Het optreden als tussenpersoon voor het oprichten en laten oprichten van private en bedrijfsgebouwen.
- Alle aankoop,verkoop,trading in de ruimste zin van het woord,fabricatie,invoer,uitvoer,agentuur,commissiehandel,verhuring,herstelling,plaatsing,vertegenwoordiging en ruiling van alle handelsgoederen in de meest uitgebreide zin.
- De vennootschap handelt voor eigen rekening,in consignatie,in commissie,als tussenpersoon of als vertegenwoordiger.
- De vennootschap mag onder alle roerende en onroerende goederen,materialen en installaties kopen,verkopen,huren,verhuren,leasing contracten aangaan,ruilen,oprichten,doen oprichten.
- De vennootschap mag haar voorwerp verwezenlijken op om het even welke manier en op de wijze die haar geschikt lijkt.
- Zij mag in het algemeen,zowel in België als in het buitenland alle commerciële,industriële,financiële,burgerlijke,roerende en onroerende bewerkingen doen,die rechtstreeks geheel of gedeeltelijk betrekking hebben op haar voorwerp.
- Zij zal onder meer mogen deelnemen in andere vennootschappen en ondernemingen,in België of in het buitenland,die eenzelfde voorwerp,een gelijkaardig of aanverwant doel nastreven of die van aard zijn haar bedrijvigheid uit te breiden of te vergemakkelijken.
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- AK STAR
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Brussels Hoofdstedelijk Gewest, enkel besluit bestuursorgaan” (deed in Dutch)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Natuurlijke personen of rechtspersonen,al dan niet aandeelhouder, 1” (deed in Dutch)
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- One provision in the deed
- Share issue ruleHow and by whom new shares can be issued.
- “Overblijvende aandelen aan aandeelhouders die voorkeurrecht volledig uitoefenden tot plaatsing volledig of geen gebruik, 15” (deed in Dutch)
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Beslissing van algemene vergadering beslissende in vormen vereist voor statutenwijziging, op elk moment” (deed in Dutch)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Bij ontbinding om welke reden en op welk ogenblik ook, onverminderd recht algemene vergadering om één of meerdere vereffenaars aan te…” (deed in Dutch)