Equity
A+ paid out €40,000 in dividends. That is 55% of the 2025 profit.
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A+ paid out €40,000 in dividends. That is 55% of the 2025 profit.
The result fell in 2025 from €136,521 to €72,620.
The micro format states no turnover.
Green is investment, beige is depreciation. Machinery stands 85.3% higher than in 2024.
Short-term debts fell from €36,951 to €16,711.
Higher solvency than 95% of companies in wholesale trade. Sector median 40.4% · 13,807 companies.
In July 2024, 17,811 companies had the same profile as A+ has now. Each dot stands for 45 companies, two years later.
The method was tested on the 497,448 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 17,811 companies, not a prediction for A+. 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.
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.
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| Company | ||||
|---|---|---|---|---|
| A+ Ghent | €580,933 | €107,824 | 97.1% | - |
| Safegarden Antwerp | €678,492 | €96,249 | 15.4% | - |
| THE FASHION CORNER Kampenhout | €852,203 | €101,668 | 29.8% | - |
| INA CONCEPT Antwerp | €578,368 | €110,838 | 46.6% | 0.9 |
| BRU-PACK Saint-Josse-ten-Noode | €404,455 | €62,592 | 27.1% | - |
| GEMINI GIFT Liège | €357,667 | €70,336 | 15.3% | - |
| Globeco Hamme (Vl.) | €567,049 | €62,700 | 56.0% | - |
These companies have the same main activity as A+: non-specialised wholesale trade (NACE 46900). They are comparable in size and age: total assets between €358,000 and €852,000, founded between 2013 and 2016.
A+ files the micro format. That format states no turnover. The gross margin fell from €143,548 in 2020 to €107,824 in 2025.
The balance sheet grew most from 2023 to 2025 through fixed assets.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €540,000. Estimated: probably between €260,000 and €990,000.
Higher than 95% of 13,807 companies in 2025.
Higher than 86% of 13,189 companies in 2025.
Higher than 73% of 13,367 companies in 2025.
Net result: top quarter · Equity: top quarter · Balance sheet total: top quarter · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||
20/58 |
580,933 | 568,553 | 502,536 | 289,462 | 293,571 | 289,224 | |
21/28 |
475,678 | 453,307 | 271,885 | 268,380 | 272,183 | 269,630 | |
22/27 |
384,152 | 361,781 | 183,787 | 184,880 | 185,973 | 184,419 | |
22 |
335,454 | 335,504 | 182,300 | 182,300 | 182,300 | 182,300 | |
23 |
48,698 | 26,277 | 1,246 | 1,712 | 2,178 | 1,578 | |
24 |
- | - | 241 | 867 | 1,494 | 541 | |
28 |
91,526 | 91,526 | 88,098 | 83,500 | 86,211 | 85,211 | |
29/58 |
105,255 | 115,246 | 230,651 | 21,082 | 21,387 | 19,594 | |
40/41 |
4,926 | 109,749 | 85,561 | 6,997 | 9,838 | 136 | |
40 |
742 | 21,474 | - | 1,760 | 8,375 | 70 | |
41 |
4,184 | 88,275 | 85,561 | 5,237 | 1,463 | 66 | |
54/58 |
100,329 | 5,498 | 145,090 | 14,086 | 11,549 | 19,458 | |
| Balance sheet: equity and liabilities | |||||||
10/49 |
580,933 | 568,553 | 502,536 | 289,462 | 293,571 | 289,224 | |
10/15 |
564,222 | 531,602 | 435,082 | 279,854 | 287,372 | 284,372 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
13 |
545,622 | 513,002 | 416,482 | 261,254 | 268,772 | 265,772 | |
130/1 |
50 | 50 | 50 | 50 | 50 | 50 | |
1311 |
50 | 50 | 50 | 50 | 50 | - | |
1319 |
- | - | - | - | - | 50 | |
133 |
545,572 | 512,952 | 416,432 | 261,204 | 268,722 | 265,722 | |
17/49 |
16,711 | 36,951 | 67,454 | 9,608 | 6,198 | 4,852 | |
42/48 |
16,711 | 36,951 | 67,454 | 9,608 | 6,198 | 4,852 | |
44 |
1,128 | 1,228 | 4,251 | 3,118 | 1,585 | 2,257 | |
440/4 |
1,128 | 1,228 | 4,251 | 3,118 | 1,585 | 2,257 | |
46 |
- | 21,428 | 21,428 | - | - | - | |
45 |
4,174 | 2,777 | 39,776 | 6,490 | 3,279 | 989 | |
450/3 |
4,174 | 2,777 | 39,776 | 6,490 | 3,279 | 989 | |
47/48 |
11,410 | 11,519 | 1,999 | - | 1,334 | 1,605 | |
| Income statement | |||||||
9900 |
107,824 | 178,683 | 276,576 | 668 | 4,785 | 143,548 | |
62 |
1,600 | 1,280 | - | - | - | - | |
630 |
3,437 | 7,407 | 1,093 | 1,093 | 1,007 | 24,094 | |
640/8 |
1,923 | 1,325 | 1,120 | 3,300 | 493 | 600 | |
9901 |
100,864 | 168,671 | 274,363 | -3,726 | 3,284 | 118,854 | |
75/76B |
13,474 | 5 | 30 | 572 | 55 | 1 | |
75 |
13,474 | 5 | 30 | 3 | 55 | 1 | |
76B |
- | - | - | 569 | - | - | |
65/66B |
74 | 311 | 58 | 4,365 | 64 | 636 | |
65 |
74 | 311 | 58 | 165 | 64 | 136 | |
66B |
- | - | - | 4,200 | - | 500 | |
9903 |
114,265 | 168,365 | 274,335 | -7,518 | 3,275 | 118,219 | |
67/77 |
41,645 | 31,845 | 79,107 | - | 275 | 29,309 | |
9904 |
72,620 | 136,521 | 195,228 | -7,518 | 3,000 | 88,910 | |
9905 |
72,620 | 136,521 | 195,228 | -7,518 | 3,000 | 88,910 | |
| Appropriation of the result | |||||||
9906 |
72,620 | 136,521 | 195,228 | -7,518 | 3,000 | 88,910 | |
791/2 |
40,000 | 40,000 | 40,000 | 7,518 | - | - | |
691/2 |
72,620 | 136,521 | 195,228 | - | 3,000 | 88,910 | |
6921 |
72,620 | 136,521 | 195,228 | - | 3,000 | 88,910 | |
694/7 |
40,000 | 40,000 | 40,000 | - | - | - | |
694 |
40,000 | 40,000 | 40,000 | - | - | - | |
| Document | |||||||
The notes to these accounts have 6 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 30-01-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 30-01-2026 | 2026-00032467 | |
| 30-06-2024 | micro format | 28-01-2025 | 2025-00016729 | |
| 30-06-2023 | micro format | 31-01-2024 | 2024-00023368 | |
| 30-06-2022 | micro format | 12-12-2022 | 2022-20539056 | |
| 30-06-2021 | micro format | 07-02-2022 | 2022-05200331 | |
| 30-06-2020 | micro format | 22-02-2021 | 2021-05800372 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| 104,301 | 176,078 | 275,456 | -2,633 | 4,292 | 142,948 | ||
| 76,057 | 143,927 | 196,321 | -6,426 | 4,007 | 113,004 | ||
| 25,808 | 183,081 | 4,598 | -2,711 | 3,561 | 291,297 | ||
| 94,832 | -139,593 | 131,004 | 2,537 | -7,908 | - | ||
| 88,544 | 78,295 | 163,197 | 11,474 | 15,189 | 14,742 | ||
| 97.1% | 93.5% | 86.6% | 96.7% | 97.9% | 98.3% | ||
| 6.30 | 3.12 | 3.42 | 2.19 | 3.45 | 4.04 | ||
| 0.03 | 0.07 | 0.16 | 0.03 | 0.02 | 0.02 | ||
| 12.9% | 25.7% | 44.9% | -2.7% | 1.0% | 31.3% | ||
| 12.5% | 24.0% | 38.8% | -2.6% | 1.0% | 30.7% | ||
| over 100 | over 100 | over 100 | -15.95 | - | - |
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 | 30-06-2025 | 30-06-2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|
| Tangible fixed assets | €25,808 | €179,653 | - | - |
| Financial fixed assets | - | €3,428 | €4,598 | - |
| €3,437 | €7,407 | €1,093 | €1,093 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 40% lower than in 2024 and the lowest since 2022. It is the second fall in a row.
Debt's share of the balance-sheet total falls from 6.5% to 2.9%. Equity is higher and debt is lower.
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| BEYOND PROJECTS
registered office since 24-10-2025 |
founded in 2025 1029.638.667 |
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The board mandates are listed under Board mandates elsewhere. The network lets you explore the same ties.
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Deadline for the 2026 accounts: 31-01-2027
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Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Mazestraat 18B registered office 9030 Ghent | ||
| Mazestraat 18 9030 Ghent 46190 Agents in non-specialised wholesale trade | 01-10-2014 | 2.238.046.257 |
| 16-09-2026 | Under review | Bouwen of herbouwen; Nieuwbouw van bijgebouwen, niet-overdekte lage constructies en andere handelingen; Verwijderen van vrijstaande bijgebouwen, niet-overdekte lage constructies of andere beperkte handelingen; Verwijderen van vrijstaande gebouwen project 2026104070 | Hooglede |
| 10-03-2026 | Granted | Bouwen of herbouwen submitted 20-10-2025 · project 2025125193 | Zedelgem |
| 23-02-2026 | Discontinued | Bouwen of herbouwen; Nieuwbouw van bijgebouwen en niet overdekte lage constructie submitted 27-10-2025 · project 2025126871 | Zedelgem |
| 20-10-2025 | Discontinued | Bouwen of herbouwen; Nieuwbouw van bijgebouwen en niet overdekte lage constructie submitted 10-10-2025 · project 2025122635 | Zedelgem |
| 13-10-2025 | Discontinued | Bouwen of herbouwen; Nieuwbouw van bijgebouwen en niet overdekte lage constructie submitted 25-07-2025 · project 2025091634 | Zedelgem |
| 09-07-2024 | Granted | Aanleg van nieuwe verkeersweg submitted 29-04-2024 · Subdivision · project 2024062781 | Zedelgem |
| 26-04-2024 | Discontinued | Aanleg van nieuwe verkeersweg submitted 12-10-2023 · Subdivision · project 2023135320 | Zedelgem |
Source: Omgevingsloket Vlaanderen.
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 44038A0487/00N000 | 379 m² | 1 · 70 m² | 22.9 m · 5 |
| 44038A0487/00D000 | 96 m² | 1 · 96 m² | 10.2 m · 3 |
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