Equity
€1.4m ▲ 7.3%
AAM has made a profit in every financial year since 2012.
AAM
Lifetime
14 annual accounts with figures on one time axispeak €1.3m (2017)
€626,569▲ 0.3%
peak €892,903 (2017)
€94,974▼ 62.8%
peak €1.4m (2025)
€1.4m▲ 7.3%
€7.2m▼ 4.3%
peak 4.3 FTE (2025)
4.3 FTE▲ 43.3%
Board7 names since 2020
2 directorsCastelbuild and 1 other
Owners3 names in the annual accounts
100%Castelbuild and 1 other
Documentsfilings and deeds
30-07-20261 days before the deadline
2025abbreviated format
Result from €255,053 to €94,974Staff from 3 FTE to 4.3 FTENew statutory auditor 10-06Cash from €368,901 to €23,867
Key points
from the 2025 annual accountsResult
€94,974 ▼ 62.8%
The result fell in 2025 from €255,053 to €94,974.
Debts
€7.2m 84% of the balance sheet
Financial debts 31%Suppliers 32%Taxes and wages 3%Other 35%
€1.3m of the debts are secured on the company's own assets. In 2024 that was €1.3m.
Staff
5 employees on 31-12-2025
In 2025, 3 people joined and 1 left.
Filings
14 annual accounts since 2012
The 2019 accounts came 46 days late. The other nine of the last ten were filed on time.
Position in the sector
€1.4m
More equity than 90% of companies in other professional activities. Sector median €102,764 · 818 companies.
Checked score
78
Excellent
Financially stronger than 28% of micro companies in other professional activities (NACE 74)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 5,430 companies (NACE 74, micro).
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.4%
01-2025: 0.4%● unchanged vs 12-2024
02-2025: 0.4%● unchanged vs 01-2025
03-2025: 0.4%● unchanged vs 02-2025
04-2025: 0.4%● unchanged vs 03-2025
05-2025: 0.4%● unchanged vs 04-2025
06-2025: 0.5%▲ +0.1 percentage points vs 05-2025
07-2025: 0.6%▲ +0.1 percentage points vs 06-2025highest value
08-2025: 0.2%▼ -0.4 percentage points vs 07-2025lowest value
09-2025: 0.2%● unchanged vs 08-2025lowest value
10-2025: 0.2%● unchanged vs 09-2025lowest value
11-2025: 0.2%● unchanged vs 10-2025lowest value
12-2025: 0.2%● unchanged vs 11-2025lowest value
01-2026: 0.2%● unchanged vs 12-2025lowest value
02-2026: 0.2%● unchanged vs 01-2026
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.2%● unchanged vs 04-2026
06-2026: 0.3%▲ +0.1 percentage points vs 05-2026
07-2026: 0.3%● unchanged vs 06-2026
08-2026: 0.6%▲ +0.3 percentage points vs 07-2026
09-2026: 0.6%● unchanged vs 08-2026
10-2026: 0.6%● unchanged vs 09-2026
11-2026: 0.6%● unchanged vs 10-2026
Financial strengthWeak
Score breakdown
raises risk
Liquidity: current ratio 1.46, cash €23,867, halved
Equity €1.4m (16.2% of total assets)
lowers risk
Figures for financial year 2025 (filed on 01-08-2026)
Sector: Other professional, scientific and technical activities (NACE 74)
Calculation
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 74, micro). It does better than 25% of them on solvency, 9% on liquidity, 25% on profitability and 53% on growth.
The bankruptcy probability was computed on 06-11-2026 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).
Comparable companies, two years later
In July 2024, 4,508 companies had the same profile as AAM has now. Each dot stands for 12 companies, two years later.
96.9%
were still trading
1.6%
stopped another way
1.4%
went bankrupt
That fits the bankruptcy probability of AAM itself: 0.6% within 12 months.
Test of the method
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 4,508 companies, not a prediction for AAM. 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.
Credit verdict
Credit of up to €100,000 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.46 (1.43 in 2024), below the usual 1.5. Short-term debt is 67.9% and cash 0.3% of total assets. 83.8% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 day early
2024
6 days early
2023
6 days early
2022
4 days early
2021
23 days early
2020
9 days early
2019
46 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average on the deadline day. In the sector (NACE 74), the median for financial year 2024 was 3 days before the deadline, and 38% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 26 July (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
07-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- Castelbuild 100%equity €2.1m (2025) · annual accounts 2025
- Castelmore Group NV consolidatesequity €12.2m (2025) · annual accounts 2025
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0838275582
New statutory auditor
Mazars bedrijfsrevisoren CVBA appointed, Castelmore resigned · Permanent representative: Jan Van der Beke · Gazette deed
Permanent representatives: Jelle Geerits and Geert Paepen
General meeting of 28-04-2023 · Gazette deed
3 directors appointed, 3 resignations
Resignations: Castelmore re, Castelmore Group and Castelbuild · Appointments: Castelbuild, Castelmore re and Castelmore Group · Permanent representatives: Jelle Geerits, Jan Van der Beke and Tim Nagels · General meeting of 22-12-2023 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| AAM Geel | €8.6m | €0.6m | 16.2% | 4.3 |
| Kollective Ardooie | €4.1m | €1.2m | 9.4% | 6.7 |
| Petrus Design Factory Mont-Saint-Guibert | €1.9m | €0.5m | 30.6% | 7.1 |
| VERMEULEN RESEARCH DEVELOPMENT, DESIGN AND INVESTMENT Menen | €6.5m | €0.7m | 60.7% | 0.8 |
| Atelier du Tri Rochefort | €1.6m | €0.6m | 89.8% | 4.3 |
| OPTIMADE Grez-Doiceau | €3.1m | €1.0m | 65.3% | - |
| AMECO Hulshout | €1.7m | €0.9m | 41.8% | 4 |
These companies have the same main activity as AAM: other specialised design activities (NACE 74140). They are comparable in size and age: total assets between €1.6m and €6.5m, founded between 1996 and 2017.
Official details
Source: KBO- Status
- Active since 02-08-2011Normal situation
- Activity
- Other specialised design activitiesNACE 74140and 1 other
- Joint committees
- 200Auxiliary committee for white-collar workers
- 124Construction · annual accounts 2025
- Establishment unit
- 2.202.029.6623550 Heusden-Zolder, since 02-08-2011
- Financial year end
- 31 December
- Peppol
- Reachable since 21-10-2026
Annual accounts 2025
- ≈ €1.5mestimated
- €8.6m▼ 2.6%
- Employeeson 31-12-2025
- 5▲ 66.7%
- Filing
- Filed on 30-07-2026, 1 day before the end of the filing period
Companies linked to AAM
Parent and group
Insights on AAM
AAM files the abbreviated format. That format states no turnover. The gross margin rose from €28,947 in 2012 to €626,569 in 2025.
Castelbuild holds all the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about AAM
- What is the company number of AAM?
- The company number of AAM is 0838.275.582. The VAT number is the same number with BE in front: BE 0838.275.582.
- Where is AAM based?
- The registered office is at Winkelomseheide 223, 2440 Geel.Company details
- What does AAM do?
- According to the KBO register, the main activity is other specialised design activities (NACE 74140).
- What is the legal form of AAM?
- AAM is a private limited company (BV).
- When was AAM founded?
- AAM was founded on 02-08-2011.
- Is AAM still active?
- Yes, AAM is an active enterprise in the KBO register.
- How many employees does AAM have?
- AAM had an average of 4.3 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does AAM fall under?
- In its 2025 annual accounts, AAM states joint committees 200 (Auxiliary committee for white-collar workers) and 124 (Construction).
- What is the turnover of AAM?
- The turnover in financial year 2025 is ≈ €1.5m. This figure is estimated from the gross margin of €626,569 and 2,275 comparable companies of the same size. It probably lies between €890,000 and €2.5m. It is a rough estimate. In financial year 2021 turnover was €4.1m.
- Is AAM profitable?
- In financial year 2025, AAM made a profit of €94,974.
- Where can I find the annual accounts of AAM?
- AAM filed 14 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of AAM due?
- AAM must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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