ASDK
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-04-2026 PDF all 23 filings
Turnover
≈ €110,000
Estimated: probably between €85,000 and €150,000
Total assets
€233,051▲ 8.4%
2024 · €214,894
Net result
€16,725▼ 20.7%
2024 · €21,098
Working capital
€158,728▲ 18.1%
2024 · €134,346
In the rankings
#4 oldest company in Tielt-Winge, Telecoms and IT sector
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€18,584
▼ 21.1%
2025
20192025
Net result
€16,725
▼ 20.7%
2025
middle half of the sector
20192025
Equity
€157,317
▲ 11.9%
2025
highest quarter of the sector
20192025
Total assets
€233,051
▲ 8.4%
2025
middle half of the sector
20192025
Debt
€75,734
▲ 1.9%
2025
20192025
Working capital
€158,728
▲ 18.1%
2025
highest quarter of the sector
20192025
Solvency
67.5%
▲ 2.1pp
2025
middle half of the sector
20192025
Current ratio
3.30
▲ 0.31
2025
middle half of the sector
20192025
Return on assets (ROA)
7.2%
▼ 2.6pp
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€18,070-€6,156▼ 65.9%€12,813▲ 108%€6,411▼ 50.0%€15,708▲ 145%€23,551▲ 49.9%€18,584▼ 21.1%
Net result€20,770-€9,319within the sector's middle half▼ 55.1%€15,485within the sector's middle half▲ 66.2%€7,113within the sector's middle half▼ 54.1%€13,597within the sector's middle half▲ 91.2%€21,098within the sector's middle half▲ 55.2%€16,725within the sector's middle half▼ 20.7%
Equity€93,981-€103,300within the sector's middle half▲ 9.9%€98,785within the sector's middle half▼ 4.4%€105,898within the sector's middle half▲ 7.2%€119,494within the sector's middle half▲ 12.8%€140,592within the sector's middle half▲ 17.7%€157,317above the sector's middle half▲ 11.9%
Total assets€265,389-€259,128within the sector's middle half▼ 2.4%€290,969above the sector's middle half▲ 12.3%€285,904above the sector's middle half▼ 1.7%€180,658within the sector's middle half▼ 36.8%€214,894within the sector's middle half▲ 19.0%€233,051within the sector's middle half▲ 8.4%
Debt€171,408-€155,828▼ 9.1%€192,184▲ 23.3%€180,006▼ 6.3%€61,163▼ 66.0%€74,302▲ 21.5%€75,734▲ 1.9%
Working capital€67,981-€86,403within the sector's middle half▲ 27.1%€77,687within the sector's middle half▼ 10.1%€88,931within the sector's middle half▲ 14.5%€102,403within the sector's middle half▲ 15.1%€134,346above the sector's middle half▲ 31.2%€158,728above the sector's middle half▲ 18.1%
Solvency35.4%-39.9%within the sector's middle half▲ 4.5pp34.0%within the sector's middle half▼ 5.9pp37.0%within the sector's middle half▲ 3.1pp66.1%within the sector's middle half▲ 29.1pp65.4%within the sector's middle half▼ 0.7pp67.5%within the sector's middle half▲ 2.1pp
Current ratio1.40-1.55within the sector's middle half▲ 0.161.45within the sector's middle half▼ 0.101.53within the sector's middle half▲ 0.082.81within the sector's middle half▲ 1.272.99within the sector's middle half▲ 0.183.30within the sector's middle half▲ 0.31
Return on assets (ROA)7.8%-3.6%within the sector's middle half▼ 4.2pp5.3%within the sector's middle half▲ 1.7pp2.5%below the sector's middle half▼ 2.8pp7.5%within the sector's middle half▲ 5.0pp9.8%within the sector's middle half▲ 2.3pp7.2%within the sector's middle half▼ 2.6pp
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 21% 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 €233,051
Fixed assets
€5,340 ▼ 58.9%
Current assets
€227,711 ▲ 12.8%
Equity and liabilities €233,051
Equity
€157,317 ▲ 11.9%
Debt
€75,734 ▲ 1.9%
Debt's share of the balance-sheet total falls from 34.6% to 32.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€27,627▼
2024 · €32,178
Cash flow
€25,768▼
2024 · €29,724
Debt to equity
0.48▼
2024 · 0.53
ROE
10.6%▼
2024 · 15.0%
Interest coverage
14.46▼
2024 · over 100
Debt ≤ 1 year
€68,984▲
2024 · €67,552
Income taxes
€8,920▼
2024 · €9,300
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Pledge on other assets, amount secured | €19,659 | - | - | - |
| Carrying value of the other pledged assets | €29,340 | - | - | - |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | €819 | - | €1,386 |
| Depreciation and write-downs of the year | €10,181 | €9,772 | €8,627 | €9,043 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | €1,200 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13,000 | €13,682 | €18,720 | €10,181 | €9,772 | €8,627 | €9,043 | ▲ 4.8% |
| Other operating charges640/8 | - | - | - | €372 | €1,007 | €2,656 | €5,772 | ▲ 117% |
| Gross operating margin9900 | €31,378 | €20,241 | €33,932 | €16,964 | €27,687 | €34,834 | €33,399 | ▼ 4.1% |
| Operating profit (loss)9901 | €18,070 | €6,156 | €12,813 | €6,411 | €15,708 | €23,551 | €18,584 | ▼ 21.1% |
| Financial income75/76B | - | - | - | €5,229 | €4,726 | €7,127 | €8,972 | ▲ 25.9% |
| Recurring financial income75 | €10,186 | €6,989 | €8,766 | €5,229 | €4,726 | €7,127 | €8,972 | ▲ 25.9% |
| Financial charges65/66B | - | - | - | €558 | €479 | €280 | €1,911 | ▲ 582% |
| Recurring financial charges65 | €488 | €650 | €592 | €558 | €479 | €280 | €1,911 | ▲ 582% |
| Profit (loss) for the period before taxes9903 | €24,768 | €12,495 | €20,987 | €11,082 | €19,956 | €30,398 | €25,645 | ▼ 15.6% |
| Income taxes67/77 | €3,998 | €3,176 | €5,501 | €3,969 | €6,359 | €9,300 | €8,920 | ▼ 4.1% |
| Profit (loss) for the period9904 | €20,770 | €9,319 | €15,485 | €7,113 | €13,597 | €21,098 | €16,725 | ▼ 20.7% |
| Profit (loss) for the period to be appropriated9905 | €20,770 | €9,319 | €15,485 | €7,113 | €13,597 | €21,098 | €16,725 | ▼ 20.7% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €265,389 | €259,128 | €290,969 | €285,904 | €180,658 | €214,894 | €233,051 | ▲ 8.4% |
| Fixed assets21/28 | €26,000 | €16,897 | €40,757 | €30,576 | €21,623 | €12,997 | €5,340 | ▼ 58.9% |
| Intangible fixed assets21 | €26,000 | €13,000 | - | - | - | - | - | - |
| Tangible fixed assets22/27 | - | €3,897 | €40,757 | €30,576 | €21,623 | €12,997 | €5,340 | ▼ 58.9% |
| Furniture and vehicles24 | - | - | - | €30,576 | €21,623 | €12,997 | €5,340 | ▼ 58.9% |
| Current assets29/58 | €239,389 | €242,231 | €250,212 | €255,328 | €159,035 | €201,898 | €227,711 | ▲ 12.8% |
| Amounts receivable after more than one year29 | - | - | - | - | €111,173 | €163,280 | €203,689 | ▲ 24.7% |
| Other amounts receivable291 | - | - | - | - | €111,173 | €163,280 | €203,689 | ▲ 24.7% |
| Amounts receivable within one year40/41 | €217,953 | €224,687 | €247,207 | €240,301 | €35,788 | €31,149 | €16,940 | ▼ 45.6% |
| Trade receivables40 | - | - | - | €142,912 | €35,788 | €30,492 | €16,940 | ▼ 44.4% |
| Other amounts receivable41 | - | - | - | €97,389 | €0 | €657 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €21,436 | €17,544 | €2,388 | €13,437 | €12,074 | €6,511 | €6,063 | ▼ 6.9% |
| Deferred charges and accrued income490/1 | - | - | - | €1,590 | €0 | €958 | €1,020 | ▲ 6.5% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €265,389 | €259,128 | €290,969 | €285,904 | €180,658 | €214,894 | €233,051 | ▲ 8.4% |
| Equity10/15 | €93,981 | €103,300 | €98,785 | €105,898 | €119,494 | €140,592 | €157,317 | ▲ 11.9% |
| Contributions10/11 | €6,200 | - | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €67,011 | €67,011 | €67,011 | €74,124 | €113,263 | €134,263 | €150,963 | ▲ 12.4% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €0 | - | - | - |
| Other1319 | - | - | - | - | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €72,264 | €111,403 | €132,403 | €149,103 | ▲ 12.6% |
| Profit (loss) carried forward14 | €20,770 | €30,089 | €25,574 | €25,574 | €32 | €130 | €155 | ▲ 19.3% |
| Amounts payable17/49 | €171,408 | €155,828 | €192,184 | €180,006 | €61,163 | €74,302 | €75,734 | ▲ 1.9% |
| Amounts payable after more than one year17 | - | - | €19,659 | €12,174 | €4,532 | €0 | - | - |
| Financial debts170/4 | - | - | - | €12,174 | €4,532 | €0 | - | - |
| Amounts payable within one year42/48 | €171,408 | €155,828 | €172,525 | €166,396 | €56,632 | €67,552 | €68,984 | ▲ 2.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €7,485 | €7,642 | €4,532 | €0 | ▼ 100% |
| Financial debts43 | - | - | - | - | - | €45 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | - | - | €45 | €0 | ▼ 100% |
| Trade debts44 | €155,982 | €146,822 | €136,327 | €146,370 | €33,972 | €30,475 | €38,530 | ▲ 26.4% |
| Suppliers440/4 | - | - | - | €146,370 | €33,972 | €30,475 | €38,530 | ▲ 26.4% |
| Taxes, remuneration and social security45 | - | - | - | €12,542 | €15,018 | €32,500 | €30,454 | ▼ 6.3% |
| Taxes450/3 | - | - | - | €12,542 | €15,018 | €32,500 | €30,454 | ▼ 6.3% |
| Accrued charges and deferred income492/3 | - | - | - | €1,435 | €0 | €6,750 | €6,750 | = |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €20,770 | €9,319 | €15,485 | €7,113 | €13,597 | €21,098 | €16,725 | ▼ 20.7% |
| + Depreciation and write-downs630 | €13,000 | €13,682 | €18,720 | €10,181 | €9,772 | €8,627 | €9,043 | ▲ 4.8% |
| Operating cash flow (approximation) | €33,770 | €23,001 | €34,205 | €17,294 | €23,368 | €29,724 | €25,768 | ▼ 13.3% |
| Investment in fixed assets (approximation) | - | -€4,579 | -€42,580 | €0 | -€819 | €0 | -€1,386 | - |
| Change in cash | - | -€3,892 | -€15,156 | €11,049 | -€1,363 | -€5,563 | -€448 | ▲ 91.9% |
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 ASDK 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 ASDK itself: 0.3% 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 ASDK. 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 |
|---|---|---|---|---|
| 30-09-2025 | micro format | 30-04-2026 | 2026-00094538 | |
| 30-09-2024 | micro format | 22-04-2026 | 2026-00084525 | |
| 30-09-2023 | micro format | 20-10-2025 | 2025-00545248 | |
| 30-09-2022 | micro format | 11-04-2023 | 2023-00059270 | |
| 30-09-2021 | micro format | 21-03-2022 | 2022-08000449 | |
| 30-09-2020 | micro format | 25-03-2021 | 2021-08400426 | |
| 30-09-2019 | micro format | 23-03-2020 | 2020-07300282 | |
| 30-09-2018 | micro format | 15-05-2019 | 2019-13200113 | |
| 30-09-2017 | micro format | 30-07-2018 | 2018-40700435 | |
| 30-09-2016 | abbreviated format | 17-03-2017 | 2017-06700158 |