Equity
AT-Com has made a profit without a break since 2022.
The dashed line is the sector median: 0.8% across 527 companies (NACE 61, micro).
About 8 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 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 61, micro). It does better than 58% of them on solvency, 44% on liquidity, 48% on profitability and 48% on growth.
The bankruptcy probability was computed on 09-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 5,047 companies had the same profile as AT-Com has now. Each dot stands for 13 companies, two years later.
That fits the bankruptcy probability of AT-Com itself: 0.8% within 12 months.
The method was tested on the 497,447 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 5,047 companies, not a prediction for AT-Com. 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.
Liquidity is ample, with a current ratio of 2.08 (2.37 in 2024), above the usual 1.5. Short-term debt is 39.9% and cash 11.6% of total assets. 49.5% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 1 day before the deadline. In the sector (NACE 61), the median for financial year 2024 was on the deadline day, and 47% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| AT-Com Herenthout | €264,933 | €393,638 | 50.5% | 6 |
| TECHNO SERVICES Farciennes | €272,235 | €274,360 | 33.4% | 5.6 |
| VoiceKing Kortrijk | €889,328 | €651,107 | 34.5% | 4.9 |
| CubeStore Mechelen | €159,642 | €283,071 | 18.2% | 2.1 |
| Fonzer Kontich | €744,602 | €934,273 | 46.1% | 5.9 |
| Wireless Technology Labs Antwerp | €768,315 | €245,569 | 63.9% | 2.1 |
| TEAMTEL Zaventem | €985,079 | €569,950 | 54.1% | 9.8 |
These companies have the same main activity as AT-Com: wired, wireless and satellite telecommunications (NACE 61100). They are comparable in size and age: total assets between €160,000 and €985,000, founded between 2013 and 2020.
AT-Com files the abbreviated format. That format states no turnover. The gross margin rose from €32,490 in 2018 to €393,638 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €930,000. Estimated: probably between €560,000 and €1.6m.
Higher than 59% of 122 companies in 2025.
Higher than 61% of 118 companies in 2025.
Higher than 40% of 117 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half · Staff: middle half
Staff costs divided by the average number of full-time equivalents.
In 2025, 7 people joined and 4 left.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||
20/58 |
264,933 | 249,849 | 173,744 | 210,960 | 221,070 | 298,948 | 137,861 | 67,886 | |
21/28 |
45,105 | 53,845 | 11,098 | 2,659 | 4,554 | 7,204 | 1,210 | - | |
22/27 |
43,205 | 51,945 | 9,198 | 859 | 2,904 | 5,554 | 1,210 | - | |
23 |
5,701 | 7,351 | - | - | - | - | - | - | |
24 |
9,427 | 6,501 | 9,198 | 859 | 2,904 | 5,554 | 1,210 | - | |
25 |
28,077 | 38,093 | - | - | - | - | - | - | |
28 |
1,900 | 1,900 | 1,900 | 1,800 | 1,650 | 1,650 | - | - | |
29/58 |
219,828 | 196,005 | 162,646 | 208,300 | 216,516 | 291,744 | 136,651 | 67,886 | |
40/41 |
185,312 | 130,668 | 144,514 | 181,549 | 199,082 | 233,584 | 42,014 | 57,303 | |
40 |
145,756 | 105,568 | 113,409 | 136,460 | 146,588 | 193,542 | 2,301 | 18,793 | |
41 |
39,555 | 25,100 | 31,105 | 45,090 | 52,494 | 40,042 | 39,713 | 38,510 | |
54/58 |
30,768 | 54,490 | 8,548 | 22,484 | 12,864 | 51,671 | 1,653 | 10,205 | |
490/1 |
3,749 | 10,847 | 9,584 | 4,267 | 4,569 | 6,489 | 92,984 | 378 | |
| Balance sheet: equity and liabilities | |||||||||
10/49 |
264,933 | 249,849 | 173,744 | 210,960 | 221,070 | 298,948 | 137,861 | 67,886 | |
10/15 |
133,689 | 131,744 | 108,282 | 101,589 | 91,958 | 127,062 | 107,364 | 42,453 | |
10/11 |
20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | 20,000 | |
100 |
- | - | - | - | - | - | 20,000 | 20,000 | |
13 |
2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | |
130/1 |
2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | - | - | |
130 |
- | - | - | - | - | - | 2,000 | 2,000 | |
1311 |
2,000 | 2,000 | 2,000 | 2,000 | 2,000 | 2,000 | - | - | |
14 |
111,689 | 109,744 | 86,282 | 79,589 | 69,958 | 105,062 | 85,364 | 20,453 | |
17/49 |
131,244 | 118,105 | 65,463 | 109,371 | 129,113 | 171,886 | 30,497 | 25,433 | |
17 |
18,308 | 28,216 | - | - | 38,238 | - | - | - | |
170/4 |
18,308 | 28,216 | - | - | 38,238 | - | - | - | |
42/48 |
105,696 | 82,649 | 65,463 | 109,371 | 90,875 | 171,886 | 30,497 | 25,433 | |
42 |
41,060 | 35,224 | 10,000 | 60,424 | 61,537 | 146,517 | 8,075 | - | |
44 |
16,636 | 9,277 | 7,414 | 27,777 | 7,849 | 4,192 | 3,769 | 15,963 | |
440/4 |
16,636 | 9,277 | 7,414 | 27,777 | 7,849 | 4,192 | 3,769 | 15,963 | |
45 |
40,764 | 27,399 | 22,964 | 16,010 | 21,489 | 21,177 | 18,654 | 9,470 | |
450/3 |
2,284 | 2,284 | 1,614 | 114 | 114 | - | 9,470 | 9,470 | |
454/9 |
38,480 | 25,115 | 21,350 | 15,896 | 21,375 | 21,177 | 9,183 | - | |
47/48 |
7,237 | 10,749 | 25,084 | 5,159 | - | - | - | - | |
492/3 |
7,240 | 7,240 | - | - | - | - | - | - | |
| Income statement | |||||||||
9900 |
393,638 | 288,849 | 243,747 | 258,493 | 245,438 | 272,616 | 218,340 | 32,490 | |
62 |
361,327 | 240,413 | 202,018 | 232,078 | 267,558 | 230,072 | 130,683 | - | |
630 |
15,994 | 4,485 | 1,556 | 2,045 | 2,650 | 1,790 | 605 | - | |
631/4 |
6,170 | - | - | - | - | - | - | - | |
640/8 |
391 | 5,321 | 1,186 | 706 | 1,444 | 818 | 1,437 | 435 | |
9901 |
9,755 | 38,630 | 38,986 | 23,664 | -26,214 | 39,935 | 85,615 | 32,056 | |
75/76B |
2 | 0 | 0 | 65 | 29 | - | - | - | |
75 |
2 | 0 | 0 | 65 | 29 | - | - | - | |
65/66B |
4,219 | 2,321 | 2,737 | 4,016 | 6,195 | 6,431 | 1,590 | 133 | |
65 |
4,219 | 2,321 | 2,737 | 4,016 | 6,195 | 6,431 | 1,590 | 133 | |
9903 |
5,538 | 36,309 | 36,250 | 19,713 | -32,380 | 33,505 | 84,025 | 31,923 | |
67/77 |
3,594 | 12,847 | 9,557 | 10,082 | 2,725 | 13,806 | 19,114 | 9,470 | |
9904 |
1,945 | 23,463 | 26,693 | 9,631 | -35,104 | 19,698 | 64,911 | 22,453 | |
9905 |
1,945 | 23,463 | 26,693 | 9,631 | -35,104 | 19,698 | 64,911 | 22,453 | |
| Appropriation of the result | |||||||||
9906 |
111,689 | 109,744 | 106,282 | 79,589 | 69,958 | 105,062 | 85,364 | 22,453 | |
14P |
109,744 | 86,282 | 79,589 | 69,958 | 105,062 | - | - | - | |
691/2 |
- | - | - | - | - | - | - | 2,000 | |
6920 |
- | - | - | - | - | - | - | 2,000 | |
694/7 |
- | - | 20,000 | - | - | - | - | - | |
694 |
- | - | 20,000 | - | - | - | - | - | |
| Social balance sheet | |||||||||
9087 |
6 | 4 | 3.1 | 4.1 | 4.5 | 5.6 | 3.2 | - | |
Hours worked1013 |
10,542 | 6,991 | 5,335 | 7,333 | 8,160 | 6,728 | 5,194 | - | |
| Document | |||||||||
The notes to these accounts have 8 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 06-07-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 06-07-2026 | 2026-00254234 | |
| 31-12-2024 | abbreviated format | 30-07-2025 | 2025-00329384 | |
| 31-12-2023 | abbreviated format | 27-06-2024 | 2024-00170300 | |
| 31-12-2022 | abbreviated format | 25-07-2023 | 2023-00274993 | |
| 31-12-2021 | abbreviated format | 30-06-2022 | 2022-20111994 | |
| 31-12-2020 | abbreviated format | 30-09-2021 | 2021-69300242 | |
| 31-12-2019 | abbreviated format | 31-08-2020 | 2020-46800379 | |
| 31-12-2018 | abbreviated format | 24-07-2019 | 2019-37200013 |
| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 2 | €11,619 | €11,619 |
| 2024 | 2 | €5,206 | €4,936 |
| 2023 | 1 | €0 | €502 |
| 2022 | 1 | €1,301 | €1,301 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| 25,750 | 43,116 | 40,542 | 25,709 | -23,564 | 41,726 | 86,220 | - | ||
| 17,939 | 27,948 | 28,249 | 11,676 | -32,454 | 21,489 | 65,516 | - | ||
| 7,255 | 55,170 | 9,995 | 150 | 0 | 7,785 | 1,815 | - | ||
| -23,722 | 45,942 | -13,936 | 9,619 | -38,806 | 50,018 | -8,552 | - | ||
| 114,132 | 113,355 | 97,183 | 98,929 | 125,641 | 119,858 | 106,154 | 42,453 | ||
| 50.5% | 52.7% | 62.3% | 48.2% | 41.6% | 42.5% | 77.9% | 62.5% | ||
| 2.08 | 2.37 | 2.48 | 1.90 | 2.38 | 1.70 | 4.48 | 2.67 | ||
| 0.98 | 0.90 | 0.60 | 1.08 | 1.40 | 1.35 | 0.28 | 0.60 | ||
| 1.5% | 17.8% | 24.7% | 9.5% | -38.2% | 15.5% | 60.5% | 52.9% | ||
| 0.7% | 9.4% | 15.4% | 4.6% | -15.9% | 6.6% | 47.1% | 33.1% | ||
| 6.10 | 18.57 | 14.81 | 6.40 | -3.80 | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 7 | 4 | 4 | 3 | 4 |
| full-time | 5 | 4 | 4 | 3 | 4 |
| part-time | 2 | - | - | - | - |
| in full-time equivalents | 6.3 | 4 | 4 | 3 | 4 |
| 6 | 4 | 3.1 | 4.1 | 4.5 | |
| On a permanent contract | 7 | 4 | 3 | 3 | 4 |
| Joined | 7 | 5 | 1 | 1 | 4 |
| Left | 4 | 5 | 0 | 2 | 6 |
Source: social balance sheet in the 2021 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €7,255 | €55,170 | €9,895 | - | - |
| Financial fixed assets | - | - | €100 | €150 | - |
| €15,994 | €4,485 | €1,556 | €2,045 | €2,650 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 75% lower than in 2024 and the lowest since 2021. It is the second fall in a row.
Debt's share of the balance-sheet total rises from 47.3% to 49.5%. Equity and debt are higher.
Source: lists of holdings in the owners' accounts
AT-Com has no parent and no holdings in its annual accounts. BEMA CONSULTING BV is the only director.
The network starts from the directors of AT-Com. Every other company they run is a node.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
AT-Com was incorporated on 19 April 2018.1 The registered office was moved to Herenthout in 2020.2 BEMA CONSULTING BV is manager of the company, appointed by deed of 23-03-2020.3 Total assets rose from €67,886 in 2018 to €264,933 in 2025 and headcount from 3.2 full-time equivalents in 2019 to 6 in 2025.4
| Establishment | Since | Unit number |
|---|---|---|
| Industrielaan 82 3630 Maasmechelen | 19-12-2019 | 2.301.458.424 |
| Itegemse Steenweg 92/A registered office 2270 Herenthout | 19-12-2019 | 2.301.458.523 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 73048B0537/00H000 | 3,716 m² | 1 · 803 m² | 6.8 m · 2 |
| 13012D0315/00H000 | 1,413 m² | 1 · 152 m² | 8.0 m · 2 |
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