AKD
ActiveSummary
AKD has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €500,000 and a net result of €1.7m. Equity remains stable across the filed fiscal years (±0% per year). Its solvency ranks better than 17% of 3316 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+16
Solvency34▼-2
Growth68=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €35,000 at 30 days acceptable
Liquidity tight (current ratio 1.24 against 1.35 in 2024; short-term debt: 67.3% and cash: 24.6% of total assets), and 91.3% of the assets are financed with debt.
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Signals
Six 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 69
Relative position
BE, all sectors
reference
Legal and accounting activities (NACE 69)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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
8.7%
Return on assets
28.8%
Age of the figures
16 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 17% of 3316 sector peers (2025).
NBB · sector comparisonPosition among 3316 sector peers
Solvency
better than 17%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-05-2025 was due by 31-12-2025 and was filed on 24-11-2025, 37 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
37 d early
2024
28 d early
2023
31 d early
2022
31 d early
2021
29 d early
2020
29 d early
2019
25 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 30 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-05-2026 and is due by 31-12-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-05-2026 close26-09-2026 today31-12-2026 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€500,000=
2024 · €500,000
Total assets
€5.8m▲ 23.2%
2024 · €4.7m
Net result
€1.7m▲ 186%
2024 · €581,776
Working capital
€951,442▲ 2.6%
2024 · €926,900
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€673,798▲ 63.3%€1.2m▲ 72.7%€538,458▼ 53.7%€787,483▲ 46.2%€2.3m▲ 187%
Net result€494,603▲ 77.7%€845,842▲ 71.0%€387,465▼ 54.2%€581,776▲ 50.1%€1.7m▲ 186%
Equity€500,000=€500,000=€500,000=€500,000=€500,000=
Total assets€2.5m▼ 9.4%€2.9m▲ 14.9%€3.2m▲ 10.4%€4.7m▲ 46.9%€5.8m▲ 23.2%
Debt€2.0m▼ 11.5%€2.4m▲ 18.6%€2.7m▲ 12.6%€4.2m▲ 55.6%€5.3m▲ 26.0%
Working capital€561,027▼ 1.7%€593,258▲ 5.7%€141,498▼ 76.1%€926,900▲ 555%€951,442▲ 2.6%
Staff (FTE)6.1▲ 5.2%6.3▲ 3.3%5.7▼ 9.5%6.5▲ 14.0%8.9▲ 36.9%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 187% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.8m
Fixed assets
€938,988 ▼ 14.5%
Current assets
€4.8m ▲ 34.8%
Equity and liabilities €5.8m
Equity
€500,000 =
Debt
€5.3m ▲ 26.0%
Debt's share of the balance-sheet total rises from 89.3% to 91.3%. Debt is higher.
Key figures and ratios
EBITDA
€2.4m▲
2024 · €925,950
Cash flow
€1.8m▲
2024 · €720,243
Current ratio
1.24▼
2024 · 1.35
Quick ratio
0.86▲
2024 · 0.82
Debt to equity
10.55▲
2024 · 8.37
ROE
332.2%▲
2024 · 116.4%
ROA
28.8%▲
2024 · 12.4%
Interest coverage
242.47▲
2024 · 97.74
Debt ≤ 1 year
€3.9m▲
2024 · €2.7m
Debt > 1 year
€1.0m▼
2024 · €1.3m
Income taxes
€587,578▲
2024 · €196,775
Staff costs
€725,012▲
2024 · €605,847
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €477,472 | €539,596 | €605,847 | €725,012 | ▲ 19.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €68,281 | €69,314 | €55,517 | €138,467 | €123,977 | ▼ 10.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | -€521 | €15,653 | €11,199 | - | - |
| Other operating charges640/8 | - | €1,538 | €7,463 | €960 | €6,355 | ▲ 562% |
| Gross operating margin9900 | €1.2m | €1.7m | €1.2m | €1.5m | €3.1m | ▲ 102% |
| Operating profit (loss)9901 | €673,798 | €1.2m | €538,458 | €787,483 | €2.3m | ▲ 187% |
| Financial income75/76B | - | - | €97 | €542 | €2,020 | ▲ 273% |
| Recurring financial income75 | €521 | - | €97 | €542 | €2,020 | ▲ 273% |
| Financial charges65/66B | - | €8,003 | €7,383 | €9,473 | €9,817 | ▲ 3.6% |
| Recurring financial charges65 | €10,385 | €8,003 | €7,383 | €9,473 | €9,817 | ▲ 3.6% |
| Profit (loss) for the period before taxes9903 | €663,934 | €1.2m | €531,171 | €778,551 | €2.2m | ▲ 189% |
| Income taxes67/77 | €169,331 | €310,038 | €143,707 | €196,775 | €587,578 | ▲ 199% |
| Profit (loss) for the period9904 | €494,603 | €845,842 | €387,465 | €581,776 | €1.7m | ▲ 186% |
| Profit (loss) for the period to be appropriated9905 | €494,603 | €845,842 | €387,465 | €581,776 | €1.7m | ▲ 186% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.5m | €2.9m | €3.2m | €4.7m | €5.8m | ▲ 23.2% |
| Fixed assets21/28 | €125,584 | €56,270 | €707,305 | €1.1m | €938,988 | ▼ 14.5% |
| Tangible fixed assets22/27 | €125,459 | €56,145 | €707,180 | €1.1m | €937,971 | ▼ 14.4% |
| Plant, machinery and equipment23 | - | - | €1,133 | €2,310 | €1,526 | ▼ 33.9% |
| Furniture and vehicles24 | - | €6,251 | €649 | - | - | - |
| Other tangible fixed assets26 | - | €49,894 | €705,398 | €1.1m | €936,445 | ▼ 14.3% |
| Financial fixed assets28 | €125 | €125 | €125 | €2,968 | €1,018 | ▼ 65.7% |
| Current assets29/58 | €2.4m | €2.8m | €2.5m | €3.6m | €4.8m | ▲ 34.8% |
| Stocks and contracts in progress3 | €560,508 | €583,583 | €592,041 | €1.4m | €1.5m | ▲ 7.1% |
| Contracts in progress37 | - | €583,583 | €592,041 | €1.4m | €1.5m | ▲ 7.1% |
| Amounts receivable within one year40/41 | €904,121 | €1.7m | €1.5m | €1.7m | €1.8m | ▲ 5.4% |
| Trade receivables40 | - | €1.5m | €1.4m | €1.6m | €1.8m | ▲ 8.4% |
| Other amounts receivable41 | - | €170,274 | €128,587 | €52,255 | €5,538 | ▼ 89.4% |
| Cash at bank and in hand54/58 | €829,822 | €486,823 | €309,319 | €366,348 | €1.4m | ▲ 288% |
| Deferred charges and accrued income490/1 | - | €78,662 | €68,398 | €115,510 | €117,435 | ▲ 1.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.5m | €2.9m | €3.2m | €4.7m | €5.8m | ▲ 23.2% |
| Equity10/15 | €500,000 | €500,000 | €500,000 | €500,000 | €500,000 | = |
| Contributions10/11 | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Non-distributable reserves130/1 | - | €5,000 | €5,000 | - | - | - |
| Reserves not available under the articles1311 | - | €5,000 | €5,000 | - | - | - |
| Distributable reserves133 | - | - | - | €5,000 | €5,000 | = |
| Profit (loss) carried forward14 | €476,408 | €476,408 | €476,408 | €476,408 | €476,408 | = |
| Amounts payable17/49 | €2.0m | €2.4m | €2.7m | €4.2m | €5.3m | ▲ 26.0% |
| Amounts payable after more than one year17 | €36,853 | €2,884 | €265,041 | €1.3m | €1.0m | ▼ 21.3% |
| Financial debts170/4 | - | €2,884 | - | - | - | - |
| Other amounts payable178/9 | - | - | €265,041 | €1.3m | €1.0m | ▼ 21.3% |
| Amounts payable within one year42/48 | €1.8m | €2.2m | €2.3m | €2.7m | €3.9m | ▲ 46.0% |
| Current portion of amounts payable after more than one year42 | - | €33,969 | €2,884 | - | - | - |
| Trade debts44 | €641,404 | €955,500 | €1.6m | €1.7m | €1.8m | ▲ 4.3% |
| Suppliers440/4 | - | €955,500 | €1.6m | €1.7m | €1.8m | ▲ 4.3% |
| Advances received on contracts in progress46 | - | €200,000 | €200,000 | €200,000 | €200,000 | = |
| Taxes, remuneration and social security45 | - | €170,598 | €129,236 | €164,898 | €205,761 | ▲ 24.8% |
| Taxes450/3 | - | €80,956 | €21,241 | €58,631 | €87,229 | ▲ 48.8% |
| Remuneration and social security454/9 | - | €89,642 | €107,995 | €106,266 | €118,532 | ▲ 11.5% |
| Other amounts payable47/48 | - | €880,092 | €387,465 | €587,540 | €1.7m | ▲ 189% |
| Accrued charges and deferred income492/3 | - | €146,644 | €83,762 | €228,154 | €369,434 | ▲ 61.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €494,603 | €845,842 | €387,465 | €581,776 | €1.7m | ▲ 186% |
| + Depreciation and write-downs630 | €68,281 | €69,314 | €55,517 | €138,467 | €123,977 | ▼ 10.5% |
| Operating cash flow (approximation) | €562,884 | €915,157 | €442,981 | €720,243 | €1.8m | ▲ 148% |
| Investment in fixed assets (approximation) | - | €0 | -€706,552 | -€529,397 | €35,270 | ▲ 107% |
| Change in cash | - | -€342,999 | -€177,505 | €57,029 | €1.1m | ▲ 1,748% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
14-09
State Gazette act
Resignation: Société d'Avocat JH Law SRL (director)Appointment: Timothy Speelman BV (director) · Permanent representative: Timothy Speelman · Power of attorney11 facts ▸
State Gazette act
Resignation: Société d'Avocat JH Law SRL (director)
Appointment: Timothy Speelman BV (director) · Permanent representative: Timothy Speelman · Power of attorney11 facts ▸
- Director resignation, Société d'Avocat JH Law SRL (director)
- Director appointment, Timothy Speelman BV (director)
- Permanent representative, Timothy Speelman (permanent representative)
- Other statement, elected domicile, uitoefening van zijn mandaat
- Power of attorney, Pieter De Vos
- Power of attorney, Charlotte Vanham
- Power of attorney, Alexia Cioffo
- Power of attorney, Julien Hick
- Power of attorney, Pieter De Vos
- Power of attorney, Charlotte Vanham
- Power of attorney, Alexia Cioffo
27-03
State Gazette act
Appointment: Luc Callaert BV (statutory auditor)Power of attorney3 facts ▸
State Gazette act
Appointment: Luc Callaert BV (statutory auditor)
Power of attorney3 facts ▸
- General meeting, 14/11/2025
- Auditor appointment, Luc Callaert BV (statutory auditor)
- Power of attorney, Jan Van Malderen
2025
24-11
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
31-05
Financial
Highest result since 2019net €1.7m ▲186%
Operating result €2.3m, net result €1.7m, both a record.
2024
03-12
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
30-11
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2022
30-11
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2021
02-12
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
02-12
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
06-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
07-12
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
28-12
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
14-12
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
2 of 17 acts read
About the unread acts
Of the 17 Belgian State Gazette acts we know for this company, 2 have been read. The other 15 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Board 1
TIMOTHY SPEELMAN
CurrentDirector · since 31-08-2026 · Private limited company · perm. rep.: Timothy Speelman
Permanent representatives 1
Timothy Speelman
CurrentPermanent representative · since 31-08-2026 · for TIMOTHY SPEELMAN
Statutory auditor 1
Luc Callaert BV
CurrentStatutory auditor · since 27-03-2026 · perm. rep.: e3
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
15 of this company's 17 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Elsene · 1 establishment unit since 2002
Ground area
4,008 m²
Building footprint
1,500 m²
Volume, LiDAR
102,931 m³
2 parcels, Brussels · tallest building 99.0 m, ±27 floors. Linked by address, not a title deed.
406
companies at this address
See who is registered here
1 establishment unit
Marsveldplein 56, 1050 Elsene
since 20022.232.098.771
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21009A0769/00S002 | Brussels | 3,724 m² | 1 · 1,306 m² | 99.0 m · 27 fl. |
| 21009A0773/00G002 | Brussels | 284 m² | 1 · 195 m² | 90.2 m · 7 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
3 people since 2026, 2 in office
- Board
- Statutory auditor
- began earlier
| Name | Functions and periods |
|---|---|
| TIMOTHY SPEELMAN |
|
| Luc Callaert BV |
|
| Société d'Avocat JH Law SRL |
|
Structure & network
Connections & network
1 current directorThe group is listed under Ownership & control below; here you explore it as a network.
This company
Company
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Shareholding
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Of 2,771 companies in sector 69109 we hold annual accounts for 1,207. 740 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded13-05-1998
Fiscal year end31-05
Activities, NACEBEL 2025
69101Activities of lawyers
69109Other legal services
Scores and ratios are computed by Checked and are not a credit decision.