Johan Ackhurst
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-07-2026 at the NBB all 6 filings
Turnover
≈ €470,000
Estimated: probably between €330,000 and €540,000
Total assets
€482,712▼ 17.6%
2024 · €586,125
Net result
€124,709▼ 8.2%
2024 · €135,813
Working capital
€364,760▼ 24.7%
2024 · €484,096
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
€167,799
▼ 8.4%
2025
20202025
Net result
€124,709
▼ 8.2%
2025
highest quarter of the sector
20202025
Equity
€400,546
▼ 24.0%
2025
highest quarter of the sector
20202025
Total assets
€482,712
▼ 17.6%
2025
middle half of the sector
20202025
Debt
€82,166
▲ 39.0%
2025
20202025
Working capital
€364,760
▼ 24.7%
2025
highest quarter of the sector
20202025
Solvency
83.0%
▼ 6.9pp
2025
middle half of the sector
20202025
Current ratio
5.45
▼ 5.28
2025
middle half of the sector
20202025
Return on assets (ROA)
25.8%
▲ 2.7pp
2025
middle half of the sector
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€131,753-€216,157▲ 64.1%€214,252▼ 0.9%€162,984▼ 23.9%€183,093▲ 12.3%€167,799▼ 8.4%
Net result€93,163above the sector's middle half-€150,216above the sector's middle half▲ 61.2%€147,458above the sector's middle half▼ 1.8%€123,211above the sector's middle half▼ 16.4%€135,813above the sector's middle half▲ 10.2%€124,709above the sector's middle half▼ 8.2%
Equity€98,163within the sector's middle half-€248,379within the sector's middle half▲ 153%€390,837above the sector's middle half▲ 57.4%€391,215above the sector's middle half▲ 0.1%€527,029above the sector's middle half▲ 34.7%€400,546above the sector's middle half▼ 24.0%
Total assets€150,213within the sector's middle half-€359,798within the sector's middle half▲ 140%€529,922within the sector's middle half▲ 47.3%€693,778above the sector's middle half▲ 30.9%€586,125within the sector's middle half▼ 15.5%€482,712within the sector's middle half▼ 17.6%
Debt€52,050-€111,419▲ 114%€139,085▲ 24.8%€302,562▲ 118%€59,096▼ 80.5%€82,166▲ 39.0%
Working capital€86,616within the sector's middle half-€234,360within the sector's middle half▲ 171%€377,746above the sector's middle half▲ 61.2%€357,986above the sector's middle half▼ 5.2%€484,096above the sector's middle half▲ 35.2%€364,760above the sector's middle half▼ 24.7%
Solvency65.3%within the sector's middle half-69.0%within the sector's middle half▲ 3.7pp73.8%within the sector's middle half▲ 4.7pp56.4%within the sector's middle half▼ 17.4pp89.9%above the sector's middle half▲ 33.5pp83.0%within the sector's middle half▼ 6.9pp
Current ratio2.67within the sector's middle half-3.10within the sector's middle half▲ 0.443.72within the sector's middle half▲ 0.612.30within the sector's middle half▼ 1.4210.72above the sector's middle half▲ 8.425.45within the sector's middle half▼ 5.28
Return on assets (ROA)62.0%above the sector's middle half-41.8%above the sector's middle half▼ 20.3pp27.8%within the sector's middle half▼ 13.9pp17.8%within the sector's middle half▼ 10.1pp23.2%within the sector's middle half▲ 5.4pp25.8%within the sector's middle half▲ 2.7pp
above
within
below
The sector band is the middle half of the companies in Human health activities (NACE 86). 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 8% 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 €482,712
Fixed assets
€35,891 ▼ 31.3%
Current assets
€446,821 ▼ 16.3%
Equity and liabilities €482,712
Equity
€400,546 ▼ 24.0%
Debt
€82,166 ▲ 39.0%
Debt's share of the balance-sheet total rises from 10.1% to 17.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€184,137▼
2024 · €200,309
Cash flow
€141,046▼
2024 · €153,029
Debt to equity
0.21▲
2024 · 0.11
ROE
31.1%▲
2024 · 25.8%
Interest coverage
over 100▲
2024 · 51.62
Debt ≤ 1 year
€82,061▲
2024 · €49,800
Debt > 1 year
€0▼
2024 · €8,877
Income taxes
€43,539▼
2024 · €44,539
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €7,842 | €6,145 | €55,735 | €9,642 | - |
| Financial fixed assets | - | - | €2,000 | - | - |
| Depreciation and write-downs of the year | €5,455 | €7,074 | €11,024 | €17,216 | €16,338 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,575 | €5,455 | €7,074 | €11,024 | €17,216 | €16,338 | ▼ 5.1% |
| Other operating charges640/8 | - | €603 | €2,029 | €1,112 | €1,480 | €3,058 | ▲ 107% |
| Non-recurring operating charges66A | - | - | - | €1,960 | - | - | - |
| Gross operating margin9900 | €136,376 | €222,214 | €223,354 | €177,079 | €201,789 | €187,194 | ▼ 7.2% |
| Operating profit (loss)9901 | €131,753 | €216,157 | €214,252 | €162,984 | €183,093 | €167,799 | ▼ 8.4% |
| Financial income75/76B | - | €6 | €102 | €68 | €1,141 | €2,169 | ▲ 90.2% |
| Recurring financial income75 | €1 | €6 | €102 | €68 | €1,141 | €2,169 | ▲ 90.2% |
| Financial charges65/66B | - | €398 | €2,329 | €2,386 | €3,881 | €1,721 | ▼ 55.6% |
| Recurring financial charges65 | €17 | €398 | €2,329 | €2,386 | €3,881 | €1,721 | ▼ 55.6% |
| Profit (loss) for the period before taxes9903 | €131,737 | €215,764 | €212,025 | €160,667 | €180,353 | €168,247 | ▼ 6.7% |
| Income taxes67/77 | €38,574 | €65,548 | €64,567 | €37,456 | €44,539 | €43,539 | ▼ 2.2% |
| Profit (loss) for the period9904 | €93,163 | €150,216 | €147,458 | €123,211 | €135,813 | €124,709 | ▼ 8.2% |
| Profit (loss) for the period to be appropriated9905 | €93,163 | €150,216 | €147,458 | €123,211 | €135,813 | €124,709 | ▼ 8.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €150,213 | €359,798 | €529,922 | €693,778 | €586,125 | €482,712 | ▼ 17.6% |
| Fixed assets21/28 | €11,633 | €14,020 | €13,091 | €59,802 | €52,229 | €35,891 | ▼ 31.3% |
| Tangible fixed assets22/27 | €9,133 | €11,520 | €10,591 | €55,302 | €47,729 | €31,391 | ▼ 34.2% |
| Plant, machinery and equipment23 | - | €6,156 | €9,113 | €5,293 | €6,985 | €3,149 | ▼ 54.9% |
| Furniture and vehicles24 | - | €5,364 | €1,478 | €50,009 | €40,744 | €28,243 | ▼ 30.7% |
| Financial fixed assets28 | €2,500 | €2,500 | €2,500 | €4,500 | €4,500 | €4,500 | = |
| Current assets29/58 | €138,580 | €345,779 | €516,831 | €633,975 | €533,896 | €446,821 | ▼ 16.3% |
| Stocks and contracts in progress3 | - | - | - | - | €15,971 | €0 | ▼ 100% |
| Stocks30/36 | - | - | - | - | €15,971 | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €74,365 | €97,220 | €120,316 | €234,652 | €332,328 | €409,158 | ▲ 23.1% |
| Trade receivables40 | - | €53,702 | €58,486 | €23,100 | €75,878 | €179,358 | ▲ 136% |
| Other amounts receivable41 | - | €43,518 | €61,830 | €211,552 | €256,449 | €229,800 | ▼ 10.4% |
| Current investments50/53 | - | - | - | - | €100,000 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €62,548 | €246,252 | €394,179 | €375,492 | €73,479 | €33,367 | ▼ 54.6% |
| Deferred charges and accrued income490/1 | - | €2,307 | €2,336 | €23,832 | €12,118 | €4,295 | ▼ 64.6% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €150,213 | €359,798 | €529,922 | €693,778 | €586,125 | €482,712 | ▼ 17.6% |
| Equity10/15 | €98,163 | €248,379 | €390,837 | €391,215 | €527,029 | €400,546 | ▼ 24.0% |
| Contributions10/11 | - | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | €93,163 | €243,379 | €385,837 | €386,215 | €522,029 | €395,546 | ▼ 24.2% |
| Distributable reserves133 | - | €243,379 | €385,837 | €386,215 | €522,029 | €395,546 | ▼ 24.2% |
| Profit (loss) carried forward14 | - | - | - | - | - | €0 | - |
| Amounts payable17/49 | €52,050 | €111,419 | €139,085 | €302,562 | €59,096 | €82,166 | ▲ 39.0% |
| Amounts payable after more than one year17 | - | - | - | €26,058 | €8,877 | €0 | ▼ 100% |
| Financial debts170/4 | - | - | - | €26,058 | €8,877 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €51,964 | €111,419 | €139,085 | €275,989 | €49,800 | €82,061 | ▲ 64.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €16,439 | €17,181 | €8,877 | ▼ 48.3% |
| Financial debts43 | - | - | - | €50,194 | €22 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | €50,194 | €22 | €0 | ▼ 100% |
| Trade debts44 | €5,113 | €3,154 | €3,970 | €17,327 | €1,874 | €1,179 | ▼ 37.1% |
| Suppliers440/4 | - | €3,154 | €3,970 | €17,327 | €1,874 | €1,179 | ▼ 37.1% |
| Taxes, remuneration and social security45 | - | €104,121 | €130,115 | €69,197 | €30,724 | €72,005 | ▲ 134% |
| Taxes450/3 | - | €104,121 | €130,115 | €64,567 | €26,012 | €67,178 | ▲ 158% |
| Remuneration and social security454/9 | - | - | - | €4,629 | €4,711 | €4,827 | ▲ 2.5% |
| Other amounts payable47/48 | - | €4,144 | €5,000 | €122,833 | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €515 | €419 | €106 | ▼ 74.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €93,163 | €150,216 | €147,458 | €123,211 | €135,813 | €124,709 | ▼ 8.2% |
| + Depreciation and write-downs630 | €3,575 | €5,455 | €7,074 | €11,024 | €17,216 | €16,338 | ▼ 5.1% |
| Operating cash flow (approximation) | €96,738 | €155,671 | €154,532 | €134,235 | €153,029 | €141,046 | ▼ 7.8% |
| Investment in fixed assets (approximation) | - | -€7,842 | -€6,145 | -€57,735 | -€9,642 | €0 | - |
| Change in cash | - | €183,704 | €147,928 | -€18,687 | -€302,013 | -€40,112 | ▲ 86.7% |
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, 6,782 companies had the same profile as Johan Ackhurst has now. Two years later, 96.7% were still going and 0.6% had gone bankrupt.
- Small
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
96.7%
was still going
2.7%
stopped otherwise
0.6%
went bankrupt
That fits the bankruptcy probability of Johan Ackhurst 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 6,782 companies, not a prediction for Johan Ackhurst. 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.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-07-2026 | 2026-00358469 | |
| 31-12-2024 | micro format | 14-08-2025 | 2025-00376336 | |
| 31-12-2023 | micro format | 12-08-2024 | 2024-00340528 | |
| 31-12-2022 | micro format | 08-08-2023 | 2023-00319355 | |
| 31-12-2021 | micro format | 29-08-2022 | 2022-20385038 | |
| 31-12-2020 | micro format | 13-08-2021 | 2021-48400230 |