AKEDOO
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 20-04-2026 PDF all 15 filings
Turnover
≈ €1.5m
Estimated: probably between €1.0m and €2.0m
Total assets
€700,658▲ 8.9%
2024 · €643,294
Net result
€95,023▼ 2.9%
2024 · €97,825
Working capital
€557,344▲ 17.7%
2024 · €473,434
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€122,155
▼ 3.6%
2025
20192025
Net result
€95,023
▼ 2.9%
2025
highest quarter of the sector
20192025
Equity
€655,432
▲ 10.1%
2025
highest quarter of the sector
20192025
Total assets
€700,658
▲ 8.9%
2025
highest quarter of the sector
20192025
Debt
€45,226
▼ 5.8%
2025
20192025
Working capital
€557,344
▲ 17.7%
2025
highest quarter of the sector
20192025
Solvency
93.5%
▲ 1.0pp
2025
highest quarter of the sector
20192025
Current ratio
16.57
▲ 2.94
2025
highest quarter of the sector
20192025
Return on assets (ROA)
13.6%
▼ 1.6pp
2025
highest quarter of the sector
20192025
Staff (FTE)
2.7
▼ 12.9%
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€132,539-€172,117▲ 29.9%€173,709▲ 0.9%€326,604▲ 88.0%-€12,109€126,781€122,155▼ 3.6%
Net result€96,000-€119,262above the sector's middle half▲ 24.2%€122,729above the sector's middle half▲ 2.9%€227,112above the sector's middle half▲ 85.1%-€11,629below the sector's middle half€97,825above the sector's middle half€95,023above the sector's middle half▼ 2.9%
Equity€105,001-€224,263above the sector's middle half▲ 114%€346,992above the sector's middle half▲ 54.7%€529,539above the sector's middle half▲ 52.6%€497,450above the sector's middle half▼ 6.1%€595,274above the sector's middle half▲ 19.7%€655,432above the sector's middle half▲ 10.1%
Total assets€302,208-€290,063within the sector's middle half▼ 4.0%€451,329above the sector's middle half▲ 55.6%€616,076above the sector's middle half▲ 36.5%€532,991above the sector's middle half▼ 13.5%€643,294above the sector's middle half▲ 20.7%€700,658above the sector's middle half▲ 8.9%
Debt€197,207-€65,800▼ 66.6%€104,338▲ 58.6%€86,537▼ 17.1%€35,541▼ 58.9%€48,019▲ 35.1%€45,226▼ 5.8%
Working capital-€54,474-€72,574within the sector's middle half€141,743above the sector's middle half▲ 95.3%€367,931above the sector's middle half▲ 160%€335,262above the sector's middle half▼ 8.9%€473,434above the sector's middle half▲ 41.2%€557,344above the sector's middle half▲ 17.7%
Solvency34.7%-77.3%above the sector's middle half▲ 42.6pp76.9%above the sector's middle half▼ 0.4pp86.0%above the sector's middle half▲ 9.1pp93.3%above the sector's middle half▲ 7.4pp92.5%above the sector's middle half▼ 0.8pp93.5%above the sector's middle half▲ 1.0pp
Current ratio0.70-2.52within the sector's middle half▲ 1.822.36within the sector's middle half▼ 0.166.15above the sector's middle half▲ 3.7914.09above the sector's middle half▲ 7.9413.62above the sector's middle half▼ 0.4716.57above the sector's middle half▲ 2.94
Return on assets (ROA)31.8%-41.1%above the sector's middle half▲ 9.3pp27.2%above the sector's middle half▼ 13.9pp36.9%above the sector's middle half▲ 9.7pp-2.2%within the sector's middle half▼ 39.0pp15.2%above the sector's middle half▲ 17.4pp13.6%above the sector's middle half▼ 1.6pp
Staff (FTE)1.5-1.4within the sector's middle half▼ 6.7%1▼ 28.6%1.7▲ 70.0%3.3▲ 94.1%3.1▼ 6.1%2.7▼ 12.9%
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). 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 4% 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 €700,658
Fixed assets
€107,509 ▼ 18.8%
Current assets
€593,149 ▲ 16.1%
Equity and liabilities €700,658
Equity
€655,432 ▲ 10.1%
Debt
€45,226 ▼ 5.8%
Debt's share of the balance-sheet total falls from 7.5% to 6.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€148,658▼
2024 · €154,401
Cash flow
€121,526▼
2024 · €125,445
Quick ratio
15.78▲
2024 · 12.89
Debt to equity
0.07▼
2024 · 0.08
ROE
14.5%▼
2024 · 16.4%
Interest coverage
over 100▲
2024 · 38.77
Debt ≤ 1 year
€35,805▼
2024 · €37,501
Income taxes
€38,933▲
2024 · €35,972
Staff costs
€10,766▲
2024 · €10,512
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 2 | 4 | 4 | 3 |
| part-time | 2 | 4 | 4 | 3 |
| in full-time equivalents | 1.1 | 2.2 | 1.7 | 0.9 |
| Average over the year, in full-time equivalents | 0.8 | 1.7 | 1.5 | 0.9 |
| Joined | 4 | 5 | 11 | 18 |
| Left | 4 | 3 | 11 | 19 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €1,812 | €3,143 | €7,856 | €1,653 |
| Financial fixed assets | - | €20,000 | - | - |
| Depreciation and write-downs of the year | €30,375 | €27,705 | €27,620 | €26,503 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 · 1 entry · €93 awarded · €93 paidAnnual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €10,678 | €7,395 | €10,512 | €10,766 | ▲ 2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €24,108 | €24,183 | €27,638 | €30,375 | €27,705 | €27,620 | €26,503 | ▼ 4.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | - | - | €25,000 | - |
| Other operating charges640/8 | - | - | - | €3,073 | €2,268 | €2,099 | €3,023 | ▲ 44.0% |
| Gross operating margin9900 | €190,091 | €217,971 | €214,706 | €370,731 | €25,259 | €167,012 | €187,447 | ▲ 12.2% |
| Operating profit (loss)9901 | €132,539 | €172,117 | €173,709 | €326,604 | -€12,109 | €126,781 | €122,155 | ▼ 3.6% |
| Financial income75/76B | - | - | - | €1,131 | €1,067 | €10,998 | €13,111 | ▲ 19.2% |
| Recurring financial income75 | €114 | €67 | €0 | €1,131 | €1,067 | €10,998 | €13,111 | ▲ 19.2% |
| Financial charges65/66B | - | - | - | €170 | €217 | €3,983 | €1,310 | ▼ 67.1% |
| Recurring financial charges65 | €1,865 | €1,272 | €592 | €170 | €217 | €3,983 | €1,310 | ▼ 67.1% |
| Profit (loss) for the period before taxes9903 | €130,788 | €170,912 | €173,117 | €327,565 | -€11,258 | €133,796 | €133,956 | ▲ 0.1% |
| Income taxes67/77 | €34,788 | €51,650 | €50,388 | €100,453 | €371 | €35,972 | €38,933 | ▲ 8.2% |
| Profit (loss) for the period9904 | €96,000 | €119,262 | €122,729 | €227,112 | -€11,629 | €97,825 | €95,023 | ▼ 2.9% |
| Profit (loss) for the period to be appropriated9905 | €95,889 | €119,103 | €122,729 | €227,112 | -€11,629 | €97,825 | €95,023 | ▼ 2.9% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €302,208 | €290,063 | €451,329 | €616,076 | €532,991 | €643,294 | €700,658 | ▲ 8.9% |
| Fixed assets21/28 | €175,174 | €169,716 | €205,248 | €176,685 | €172,123 | €132,359 | €107,509 | ▼ 18.8% |
| Intangible fixed assets21 | €5,200 | €4,550 | €3,900 | €3,250 | €2,600 | €1,950 | €1,300 | ▼ 33.3% |
| Tangible fixed assets22/27 | €163,656 | €158,847 | €195,030 | €167,116 | €143,205 | €124,090 | €99,890 | ▼ 19.5% |
| Land and buildings22 | - | - | - | €3,827 | €3,113 | €2,491 | €1,868 | ▼ 25.0% |
| Plant, machinery and equipment23 | - | - | - | - | - | €7,463 | €7,070 | ▼ 5.3% |
| Furniture and vehicles24 | - | - | - | €50,996 | €40,146 | €26,538 | €14,344 | ▼ 45.9% |
| Other tangible fixed assets26 | - | - | - | €112,293 | €99,946 | €87,599 | €76,608 | ▼ 12.5% |
| Financial fixed assets28 | €6,319 | €6,319 | €6,319 | €6,319 | €26,319 | €6,319 | €6,319 | = |
| Current assets29/58 | €127,034 | €120,347 | €246,081 | €439,391 | €360,868 | €510,935 | €593,149 | ▲ 16.1% |
| Stocks and contracts in progress3 | €36,055 | €25,435 | €18,279 | €23,048 | €23,870 | €27,712 | €28,065 | ▲ 1.3% |
| Stocks30/36 | - | - | - | €23,048 | €23,870 | €27,712 | €28,065 | ▲ 1.3% |
| Amounts receivable within one year40/41 | €70,805 | €40,620 | €43,886 | €1,080 | €30,156 | €10,400 | €27,662 | ▲ 166% |
| Trade receivables40 | - | - | - | €1,080 | €20,289 | €250 | €27,662 | ▲ 111× |
| Other amounts receivable41 | - | - | - | - | €9,867 | €10,150 | - | - |
| Current investments50/53 | - | - | - | €59,999 | €270,999 | €422,485 | €403,521 | ▼ 4.5% |
| Cash at bank and in hand54/58 | €19,411 | €46,391 | €177,553 | €346,209 | €34,530 | €47,677 | €131,117 | ▲ 175% |
| Deferred charges and accrued income490/1 | - | - | - | €9,055 | €1,312 | €2,662 | €2,785 | ▲ 4.6% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €302,208 | €290,063 | €451,329 | €616,076 | €532,991 | €643,294 | €700,658 | ▲ 8.9% |
| Equity10/15 | €105,001 | €224,263 | €346,992 | €529,539 | €497,450 | €595,274 | €655,432 | ▲ 10.1% |
| Contributions10/11 | €18,600 | - | - | €18,600 | - | - | - | - |
| Reserves13 | €86,401 | €205,663 | €328,392 | €510,939 | €509,079 | €595,274 | €655,432 | ▲ 10.1% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €5,270 | €5,270 | €5,270 | €5,270 | = |
| Distributable reserves133 | - | - | - | €503,809 | €503,809 | €590,004 | €650,162 | ▲ 10.2% |
| Profit (loss) carried forward14 | - | - | - | - | -€11,629 | - | - | - |
| Amounts payable17/49 | €197,207 | €65,800 | €104,338 | €86,537 | €35,541 | €48,019 | €45,226 | ▼ 5.8% |
| Amounts payable after more than one year17 | €15,699 | €7,190 | - | - | - | - | - | - |
| Amounts payable within one year42/48 | €181,508 | €47,773 | €104,338 | €71,460 | €25,605 | €37,501 | €35,805 | ▼ 4.5% |
| Trade debts44 | €15,647 | €10,137 | €68,130 | €6,581 | €3,594 | €5,788 | €1,722 | ▼ 70.3% |
| Suppliers440/4 | - | - | - | €6,581 | €3,594 | €5,788 | €1,722 | ▼ 70.3% |
| Taxes, remuneration and social security45 | - | - | - | €51,536 | €17,521 | €31,713 | €18,816 | ▼ 40.7% |
| Taxes450/3 | - | - | - | €46,375 | €16,501 | €31,181 | €18,816 | ▼ 39.7% |
| Remuneration and social security454/9 | - | - | - | €5,162 | €1,020 | €532 | - | - |
| Other amounts payable47/48 | - | - | - | €13,342 | €4,490 | - | €15,268 | - |
| Accrued charges and deferred income492/3 | - | - | - | €15,077 | €9,936 | €10,518 | €9,420 | ▼ 10.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €96,000 | €119,262 | €122,729 | €227,112 | -€11,629 | €97,825 | €95,023 | ▼ 2.9% |
| + Depreciation and write-downs630 | €24,108 | €24,183 | €27,638 | €30,375 | €27,705 | €27,620 | €26,503 | ▼ 4.0% |
| Operating cash flow (approximation) | €120,108 | €143,445 | €150,367 | €257,487 | €16,076 | €125,445 | €121,526 | ▼ 3.1% |
| Investment in fixed assets (approximation) | - | -€18,725 | -€63,170 | -€1,812 | -€23,143 | €12,144 | -€1,653 | - |
| Change in cash | - | €26,980 | €131,162 | €168,656 | -€311,679 | €13,147 | €83,440 | ▲ 535% |
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, 34,693 companies had the same profile as AKEDOO has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of AKEDOO 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 34,693 companies, not a prediction for AKEDOO. 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 15 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 20-04-2026 | 2026-00082900 | |
| 30-09-2024 | micro format | 08-04-2025 | 2025-00065680 | |
| 30-09-2023 | micro format | 25-04-2024 | 2024-00069045 | |
| 30-09-2022 | micro format | 18-04-2023 | 2023-00060671 | |
| 30-09-2021 | micro format | 29-03-2022 | 2022-08900553 | |
| 30-09-2020 | micro format | 30-03-2021 | 2021-09600432 | |
| 30-09-2019 | micro format | 27-04-2020 | 2020-10000531 | |
| 30-09-2018 | micro format | 30-04-2019 | 2019-11700578 | |
| 30-09-2017 | micro format | 13-04-2018 | 2018-09900299 | |
| 30-09-2016 | abbreviated format | 17-05-2017 | 2017-12300455 |