AZEC
ActiveAZEC has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €168k and a net result of €93k. Equity is shrinking by ~19.9% per year across the filed fiscal years. Its solvency ranks better than 76% of 11282 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
82
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100=
Solvency99▲+33
Growth58=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13k at 30 days acceptable
Liquidity ample (current ratio 2.6 against 1.2 in 2024; short-term debt: 26.2% and cash: 1.2% of total assets), and 26.2% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
73.8%
Return on assets
41.1%
Age of the figures
12 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Growing equity
Reported equity is higher than in 2022 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
18192021222425
2018 to 2025 · latest year €168k
neutral · Filed after the deadline
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 01-06-2026, 32 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
32 d late
2024
1 d early
2022
92 d late
2021
59 d late
2020
60 d late
2019
92 d late
2018
77 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
20-09-2026 today30-09-2026 close30-04-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€168k▲ 126%
2024 · €74k
2018: €281k
2019: €226k
2020: €180k
2021: €70k
2022: €109
2024: €74k
2018 → 2025
Total assets
€227k▲ 25.7%
2024 · €181k
2018: €533k
2019: €404k
2020: €363k
2021: €213k
2022: €183k
2024: €181k
2018 → 2025
Net result
€93k▲ 26.0%
2024 · €74k
2018: €46k
2019: €-55k
2020: €-46k
2021: €-110k
2022: €-70k
2024: €74k
2018 → 2025
Working capital
€96k▲ 363%
2024 · €21k
2018: €176k
2019: €127k
2020: €86k
2021: €-15k
2022: €-80k
2024: €21k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220242025Trend
Equity€180k-€70k▼ 61.1%€109▼ 99.8%€74k▲ 68,188%€168k▲ 126%
Operating result€-45k-€-102k▼ 128%€-63k▲ 37.6%€68k€23k▼ 66.3%
Net result€-46k-€-110k▼ 137%€-70k▲ 36.5%€74k€93k▲ 26.0%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 66% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €227k
Fixed assets
€72k▲ 30.5%
Current assets
€155k▲ 23.6%
Equity and liabilities €227k
Equity
€168k▲ 126%
Debt
€60k▼ 44.1%
The debt ratio falls from 58.9% to 26.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€31k▼
2024 · €75k
Cash flow
€102k▲
2024 · €81k
Solvency
73.8%▲
2024 · 41.1%
Current ratio
2.60▲
2024 · 1.20
Quick ratio
2.60▲
2024 · 1.20
Debt / equity
0.36▼
2024 · 1.43
ROE
55.7%▼
2024 · 99.9%
ROA
41.1%▲
2024 · 41.0%
Interest coverage
113.52▲
2024 · 32.65
Debt
€60k▼
2024 · €107k
Debt ≤ 1 year
€60k▼
2024 · €105k
Income taxes
€10k▲
2024 · €109
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€181k€227k▲
Fixed assets21/28€55k€72k▲
Tangible fixed assets22/27€55k€72k▲
Land and buildings22€55k€48k▼
Plant, machinery and equipment23-€22k
Other tangible fixed assets26-€3k
Current assets29/58€126k€155k▲
Amounts receivable within one year40/41€86k€152k▲
Trade receivables40€5k€83k▲
Other amounts receivable41€80k€70k▼
Cash at bank and in hand54/58€39k€3k▼
Deferred charges and accrued income490/1€818€41▼
Equity and liabilities
Total equity and liabilities10/49€181k€227k▲
Equity10/15€74k€168k▲
Contributions10/11€19k€19k=
Reserves13€55k€149k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€53k€147k▲
Amounts payable17/49€107k€60k▼
Amounts payable within one year42/48€105k€60k▼
Current portion of amounts payable after more than one year42€2k€625▼
Trade debts44€98k€47k▼
Suppliers440/4€98k€47k▼
Taxes, remuneration and social security45-€7k
Taxes450/3-€7k
Other amounts payable47/48€5k€5k=
Accrued charges and deferred income492/3€2k-
Income statement
Code20242025
Non-recurring operating income76A€50k-
Remuneration, social security and pensions62€12k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7k€8k▲
Other operating charges640/8€12k€435▼
Gross operating margin9900€99k€32k▼
Operating profit (loss)9901€68k€23k▼
Financial income75/76B€13k€80k▲
Recurring financial income75€13k€3k▼
Non-recurring financial income76B-€78k
Financial charges65/66B€7k€277▼
Recurring financial charges65€2k€277▼
Non-recurring financial charges66B€4k-
Profit (loss) for the period before taxes9903€74k€103k▲
Income taxes67/77€109€10k▲
Profit (loss) for the period9904€74k€93k▲
Profit (loss) for the period to be appropriated9905€74k€93k▲
Appropriation of the result
Profit (loss) to be appropriated9906€53k€93k▲
Profit (loss) brought forward from the previous period14P€-21k-
Transfer to equity691/2€53k€93k▲
To the legal reserve6920-€93k
To other reserves6921€53k-
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
01-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 32 days late
2025
30-09
Financial
Highest result since 2018net €93k ▲26%
Net result €93k, the highest in the series.
30-09
Financial
Liquidity doublescurrent ratio 2.60
Current ratio from 1.20 to 2.60; short-term debt falls from €105k to €60k.
30-09
Financial
Equity above €150kEq €168k ▲126%
2 profitable years in a row build equity to €168k.
29-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Back to profitnet €74k
Net result €74k after 4 loss-making years.
30-09
Financial
Liquidity times 5current ratio 1.20
Current ratio from 0.24 to 1.20.
2023
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 92 days late
2022
28-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 59 days late
2021
31-12
Financial
Weakest financial yearnet €-110k
Net result drops to €-110k, the lowest in the series; recovery starts the following year.
29-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 60 days late
2020
31-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 92 days late
2019
16-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 77 days late
2018
31-12
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 153 days late
2017
29-11
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 121 days late
2016
24-10
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 85 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Kalmthout · 1 establishment unit since 1999
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Groeneweg (Dp) 92920 KalmthoutGround area
1,557 m²
Building footprint
225 m²
Volume, LiDAR
1,138 m³
Parcel 11022G0245/00D000, Flanders · tallest building 7.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Groeneweg (Dp) 9, 2920 Kalmthout
since 19992.090.480.553
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11022G0245/00D000 | Flanders | 1,557 m² | 1 · 225 m² | 7.9 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
DEFISH AQUARIUMS
BE 0460.831.261
Namur · Eq €168k
G.K. INT
BE 0685.422.091
Elsene · Eq €168k
SONORA JOJOBA
BE 0461.533.621
Manage · Eq €170k
A.V.R.
BE 0459.012.314
Antwerpen · Eq €166k
EAST WINNERS IMPORT-EXPORT
BE 0879.639.649
Grimbergen · Eq €165k
Of 1,565 companies in sector 46900 we hold annual accounts for 920. 642 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded05-03-1999
Fiscal year end30-09
Activities, NACEBEL
46900Non-specialised wholesale trade
51900
Sources
Crossroads Bank for EnterprisesNational Bank · 25 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.