A.Q.
ActiveSummary
A.Q. has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.5m and a net result of -€168,769. Equity is growing by ~7.5% per year across the filed fiscal years. Its solvency ranks better than 36% of 924 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability57▼-16
Solvency49▼-3
Growth52=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €120,000 at 30 days acceptable
Liquidity tight (current ratio 1.26 against 1.27 in 2024; short-term debt: 74.9% and cash: 0% of total assets), and 75.7% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 77
Relative position
BE, all sectors
reference
Rental and leasing activities (NACE 77)
about 44% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
24.3%
Return on assets
-1.6%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 28-04-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
1 d early
2023
on the day
2022
2 d early
2021
10 d early
2020
3 d early
2019
26 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 1 day after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 38% of the sector filed late.
Checked, nothing found (2)
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
27-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€2.5m▼ 6.3%
2024 · €2.7m
Total assets
€10.4m▲ 3.1%
2024 · €10.0m
Net result
-€168,769
2024 · €334,740
Working capital
€2.0m▲ 0.1%
2024 · €2.0m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 77, Rental and leasing activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€13,323▼ 90.8%€1.0m▲ 7,420%€72,935▼ 92.7%€482,550▲ 562%-€132,416
Net result€14,755within the sector's middle half▼ 86.8%€721,697above the sector's middle half▲ 4,791%€21,357within the sector's middle half▼ 97.0%€334,740above the sector's middle half▲ 1,467%-€168,769below the sector's middle half
Equity€1.8mabove the sector's middle half▲ 0.8%€2.5mabove the sector's middle half▲ 39.6%€2.3mabove the sector's middle half▼ 7.8%€2.7mabove the sector's middle half▲ 14.3%€2.5mabove the sector's middle half▼ 6.3%
Total assets€5.4mabove the sector's middle half▲ 52.1%€7.8mabove the sector's middle half▲ 45.0%€8.6mabove the sector's middle half▲ 10.3%€10.0mabove the sector's middle half▲ 17.2%€10.4mabove the sector's middle half▲ 3.1%
Debt€3.5m▲ 106%€5.1m▲ 45.3%€6.1m▲ 19.4%€7.3m▲ 18.5%€7.8m▲ 6.6%
Working capital€385,851▼ 20.5%€1.3m▲ 228%€1.4m▲ 10.1%€2.0m▲ 43.4%€2.0m▲ 0.1%
Solvency34.0%within the sector's middle half▼ 17.3pp32.7%within the sector's middle half▼ 1.3pp27.3%within the sector's middle half▼ 5.4pp26.7%within the sector's middle half▼ 0.7pp24.3%within the sector's middle half▼ 2.4pp
Staff (FTE)15.1above the sector's middle half▲ 7.1%19.1above the sector's middle half▲ 26.5%22.8above the sector's middle half▲ 19.4%26.1above the sector's middle half▲ 14.5%30.3above the sector's middle half▲ 16.1%
above
within
below
the middle half (P25 to P75) of NACE 77, Rental and leasing activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €132,416 after €482,550 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €10.4m
Fixed assets
€598,221 ▼ 21.9%
Current assets
€9.8m ▲ 5.1%
Equity and liabilities €10.4m
Equity
€2.5m ▼ 6.3%
Provisions
€87,322 =
Debt
€7.8m ▲ 6.6%
Debt's share of the balance-sheet total rises from 72.5% to 74.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€170,773▼
2024 · €840,122
Cash flow
€134,420▼
2024 · €692,312
Current ratio
1.26▼
2024 · 1.27
Quick ratio
1.23▲
2024 · 1.22
Debt to equity
3.09▲
2024 · 2.72
ROE
-6.7%▼
2024 · 12.5%
ROA
-1.6%▼
2024 · 3.3%
Interest coverage
4.78▼
2024 · 38.77
Debt ≤ 1 year
€7.8m▲
2024 · €7.3m
Income taxes
€3,025▼
2024 · €142,494
Staff costs
€2.3m▲
2024 · €1.9m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,501 companies that looked in July 2024 the way this one looks now, 1.4% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 10 to 30%
- a small loss
1.4%
went bankrupt
1.7%
stopped otherwise
96%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 2,501 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €11,573 | €350,787 | - | - | - | - |
| Remuneration, social security and pensions62 | €974,974 | €1.4m | €1.7m | €1.9m | €2.3m | ▲ 18.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €368,640 | €384,667 | €439,349 | €357,573 | €303,189 | ▼ 15.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €120,507 | -€31,293 | €1,700 | ▲ 105% |
| Other operating charges640/8 | €6,949 | €10,362 | €11,538 | €33,455 | €13,012 | ▼ 61.1% |
| Non-recurring operating charges66A | - | - | - | €4,568 | - | - |
| Gross operating margin9900 | €1.4m | €2.7m | €2.4m | €2.8m | €2.5m | ▼ 11.2% |
| Operating profit (loss)9901 | €13,323 | €1.0m | €72,935 | €482,550 | -€132,416 | ▼ 127% |
| Financial income75/76B | €11,858 | €18,399 | - | €16,354 | €2,371 | ▼ 85.5% |
| Recurring financial income75 | €11,858 | €18,399 | - | €16,354 | €2,371 | ▼ 85.5% |
| Financial charges65/66B | €23,375 | €25,767 | €23,338 | €21,671 | €35,699 | ▲ 64.7% |
| Recurring financial charges65 | €23,375 | €25,767 | €23,338 | €21,671 | €35,699 | ▲ 64.7% |
| Profit (loss) for the period before taxes9903 | €1,806 | €994,462 | €49,598 | €477,233 | -€165,744 | ▼ 135% |
| Transfer to deferred taxes680 | - | €87,322 | - | - | - | - |
| Income taxes67/77 | -€12,949 | €185,443 | €28,240 | €142,494 | €3,025 | ▼ 97.9% |
| Profit (loss) for the period9904 | €14,755 | €721,697 | €21,357 | €334,740 | -€168,769 | ▼ 150% |
| Transfer to tax-exempt reserves689 | - | €261,965 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €14,755 | €459,732 | €21,357 | €334,740 | -€168,769 | ▼ 150% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.4m | €7.8m | €8.6m | €10.0m | €10.4m | ▲ 3.1% |
| Fixed assets21/28 | €1.9m | €1.4m | €1.0m | €766,313 | €598,221 | ▼ 21.9% |
| Intangible fixed assets21 | €5,626 | - | - | €13,095 | €18,731 | ▲ 43.0% |
| Tangible fixed assets22/27 | €1.9m | €1.4m | €1.0m | €753,218 | €579,490 | ▼ 23.1% |
| Land and buildings22 | €440,638 | - | - | - | - | - |
| Plant, machinery and equipment23 | €463,472 | €1.0m | €753,604 | €500,046 | €341,282 | ▼ 31.7% |
| Furniture and vehicles24 | €134,590 | €192,831 | €151,845 | €174,466 | €176,544 | ▲ 1.2% |
| Leasing and similar rights25 | €103,832 | €65,568 | €27,304 | €5,729 | - | - |
| Other tangible fixed assets26 | €37,783 | €119,520 | €104,755 | €72,977 | €61,664 | ▼ 15.5% |
| Assets under construction and advance payments27 | €701,368 | - | - | - | - | - |
| Current assets29/58 | €3.5m | €6.4m | €7.5m | €9.3m | €9.8m | ▲ 5.1% |
| Amounts receivable after more than one year29 | - | - | €4,200 | €4,100 | €4,000 | ▼ 2.4% |
| Other amounts receivable291 | - | - | €4,200 | €4,100 | €4,000 | ▼ 2.4% |
| Stocks and contracts in progress3 | €443,059 | €411,903 | €262,058 | €365,023 | €195,182 | ▼ 46.5% |
| Stocks30/36 | €443,059 | €411,903 | €262,058 | €365,023 | €195,182 | ▼ 46.5% |
| Amounts receivable within one year40/41 | €2.5m | €3.9m | €5.7m | €8.9m | €9.5m | ▲ 7.2% |
| Trade receivables40 | €1.3m | €1.4m | €1.2m | €1.5m | €1.8m | ▲ 19.7% |
| Other amounts receivable41 | €1.2m | €2.5m | €4.6m | €7.4m | €7.7m | ▲ 4.7% |
| Cash at bank and in hand54/58 | €553,338 | €2.0m | €1.5m | €911 | €1,532 | ▲ 68.2% |
| Deferred charges and accrued income490/1 | €14,781 | €10,939 | €9,691 | €33,513 | €36,525 | ▲ 9.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.4m | €7.8m | €8.6m | €10.0m | €10.4m | ▲ 3.1% |
| Equity10/15 | €1.8m | €2.5m | €2.3m | €2.7m | €2.5m | ▼ 6.3% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Outside capital11 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Share premium1100/10 | - | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €1.8m | €2.5m | €2.3m | €2.6m | €2.4m | ▼ 6.4% |
| Non-distributable reserves130/1 | €250,000 | €250,000 | €250,000 | €250,000 | €250,000 | = |
| Financial assistance1313 | €250,000 | €250,000 | €250,000 | €250,000 | €250,000 | = |
| Tax-exempt reserves132 | - | €261,965 | €261,965 | €261,965 | €261,965 | = |
| Distributable reserves133 | €1.5m | €2.0m | €1.8m | €2.1m | €1.9m | ▼ 8.0% |
| Provisions and deferred taxes16 | - | €87,322 | €87,322 | €87,322 | €87,322 | = |
| Deferred taxes168 | - | €87,322 | €87,322 | €87,322 | €87,322 | = |
| Amounts payable17/49 | €3.5m | €5.1m | €6.1m | €7.3m | €7.8m | ▲ 6.6% |
| Amounts payable after more than one year17 | €445,674 | €40,658 | - | - | - | - |
| Financial debts170/4 | €445,674 | €40,658 | - | - | - | - |
| Amounts payable within one year42/48 | €3.1m | €5.1m | €6.1m | €7.3m | €7.8m | ▲ 6.5% |
| Current portion of amounts payable after more than one year42 | €180,616 | €35,798 | €40,658 | €5,748 | - | - |
| Financial debts43 | €330,000 | €330,000 | - | - | - | - |
| Credit institutions430/8 | €330,000 | €330,000 | - | - | - | - |
| Trade debts44 | €334,856 | €290,837 | €463,720 | €333,212 | €596,185 | ▲ 78.9% |
| Suppliers440/4 | €334,856 | €290,837 | €463,720 | €333,212 | €596,185 | ▲ 78.9% |
| Taxes, remuneration and social security45 | €131,787 | €316,751 | €179,272 | €285,598 | €374,891 | ▲ 31.3% |
| Taxes450/3 | €35,000 | €185,443 | - | €87,951 | €46,538 | ▼ 47.1% |
| Remuneration and social security454/9 | €96,787 | €131,308 | €179,272 | €197,647 | €328,353 | ▲ 66.1% |
| Other amounts payable47/48 | €2.1m | €4.1m | €5.5m | €6.7m | €6.8m | ▲ 1.9% |
| Accrued charges and deferred income492/3 | €4,950 | €4,950 | - | - | €3,629 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,755 | €721,697 | €21,357 | €334,740 | -€168,769 | ▼ 150% |
| + Depreciation and write-downs630 | €368,640 | €384,667 | €439,349 | €357,573 | €303,189 | ▼ 15.2% |
| Operating cash flow (approximation) | €383,394 | €1.1m | €460,707 | €692,312 | €134,420 | ▼ 80.6% |
| Investment in fixed assets (approximation) | - | €92,472 | -€66,687 | -€86,377 | -€135,098 | ▼ 56.4% |
| Change in cash | - | €1.5m | -€490,402 | -€1.5m | €621 | ▲ 100% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
30-09
Financial
Weakest financial yearnet -€168,769
Net result drops to -€168,769, the lowest in the series.
29-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
28-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-09
Financial
Highest result since 2018net €721,697 ▲4,791%
Operating result €1.0m, net result €721,697, both a record.
30-09
Financial
Equity above €2mEq €2.5m ▲39.6%
5 profitable years in a row build equity to €2.5m.
20-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
27-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
26-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 26 days late
2019
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
14-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
24-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 16 acts read
About the unread acts
We know of 16 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
16 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, Antwerpen · 1 establishment unit since 2005
Ground area
8,044 m²
Building footprint
2,911 m²
Volume, LiDAR
12,675 m³
Parcel 11816C0188/00P004, Flanders · tallest building 8.9 m, ±2 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
AQ NV
since 20052.147.633.547
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11816C0188/00P004 | Flanders | 8,044 m² | 1 · 2,911 m² | 8.9 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Owners and holdings
1 ownerChain of control
- AQ Group
- A.Q.
Highest known parent: AQ Group. The sources do not say who stands above it.
Owners 1
- AQ Groupparent100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 14,058 EUR awarded · 12,620 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 4,350 EUR | 3,580 EUR |
| 2024 | 1 | 3,745 EUR | 4,093 EUR |
| 2023 | 1 | 3,585 EUR | 2,569 EUR |
| 2022 | 1 | 2,378 EUR | 2,378 EUR |
Similar companies · same sector, comparable size
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METAALBOUW VRANCKX
BE 0421.231.705
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ENTREC
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IMMO-REVI
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Of 1,188 companies in sector 77399 we hold annual accounts for 711. 357 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded07-04-2005
Fiscal year end30-09
Activities, NACEBEL 2025
77399Renting and leasing of other machinery, equipment and tangible goods
E-invoicing
Reachable via Peppol
Peppol ID
0208:0873012371
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.