AEROSTATE
ActiveSummary
AEROSTATE has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €176,582 and a net result of €2,565. Equity is growing by ~5.2% per year across the filed fiscal years. Its solvency ranks better than 59% of 14258 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability69▼-2
Solvency66▲+3
Growth52=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €12,000 at 30 days acceptable
Liquidity short (current ratio 0.11 against 0.2 in 2024; short-term debt: 26.1% and cash: 2.1% of total assets), and 59.3% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
40.7%
Return on assets
0.6%
Age of the figures
12 mo
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
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 30-04-2026, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
26 d early
2023
on the day
2022
2 d early
2021
on the day
2020
123 d late
2019
5 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 14 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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. Usually files around 30 April (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 close30-09-2026 today30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€176,582▲ 1.5%
2024 · €174,018
Total assets
€433,896▼ 5.1%
2024 · €457,275
Net result
€2,565▼ 71.6%
2024 · €9,039
Working capital
-€101,276▼ 7.5%
2024 · -€94,179
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate 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-€7,061€10,941€41,524▲ 280%€16,853▼ 59.4%€7,853▼ 53.4%
Net result-€9,828below the sector's middle half▼ 513%€2,608within the sector's middle half€28,550within the sector's middle half▲ 995%€9,039within the sector's middle half▼ 68.3%€2,565within the sector's middle half▼ 71.6%
Equity€133,820within the sector's middle half▼ 6.8%€136,428within the sector's middle half▲ 1.9%€164,978within the sector's middle half▲ 20.9%€174,018within the sector's middle half▲ 5.5%€176,582within the sector's middle half▲ 1.5%
Total assets€501,329within the sector's middle half▼ 5.4%€457,473within the sector's middle half▼ 8.7%€461,396within the sector's middle half▲ 0.9%€457,275within the sector's middle half▼ 0.9%€433,896within the sector's middle half▼ 5.1%
Debt€367,509▼ 4.9%€321,045▼ 12.6%€296,418▼ 7.7%€283,257▼ 4.4%€257,314▼ 9.2%
Working capital-€104,629below the sector's middle half▼ 10.0%-€113,794below the sector's middle half▼ 8.8%-€89,708below the sector's middle half▲ 21.2%-€94,179below the sector's middle half▼ 5.0%-€101,276below the sector's middle half▼ 7.5%
Solvency26.7%within the sector's middle half▼ 0.4pp29.8%within the sector's middle half▲ 3.1pp35.8%within the sector's middle half▲ 5.9pp38.1%within the sector's middle half▲ 2.3pp40.7%within the sector's middle half▲ 2.6pp
Current ratio0.29below the sector's middle half▼ 0.010.12below the sector's middle half▼ 0.170.29below the sector's middle half▲ 0.170.20below the sector's middle half▼ 0.100.11below the sector's middle half▼ 0.09
Return on assets (ROA)-2.0%below the sector's middle half▼ 1.7pp0.6%within the sector's middle half▲ 2.5pp6.2%within the sector's middle half▲ 5.6pp2.0%within the sector's middle half▼ 4.2pp0.6%within the sector's middle half▼ 1.4pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 53% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €433,896
Fixed assets
€421,947 ▼ 2.9%
Current assets
€11,949 ▼ 47.9%
Equity and liabilities €433,896
Equity
€176,582 ▲ 1.5%
Debt
€257,314 ▼ 9.2%
Debt's share of the balance-sheet total falls from 61.9% to 59.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€33,818▼
2024 · €43,632
Cash flow
€28,530▼
2024 · €35,818
Debt to equity
1.46▼
2024 · 1.63
ROE
1.5%▼
2024 · 5.2%
Interest coverage
8.35▼
2024 · 9.37
Debt ≤ 1 year
€113,225▼
2024 · €117,096
Debt > 1 year
€144,089▼
2024 · €166,161
Income taxes
€1,238▼
2024 · €3,159
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 10,905 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.7%
went bankrupt
4.0%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.3% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
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 10,905 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €23,437 | €23,811 | €21,908 | €26,779 | €25,966 | ▼ 3.0% |
| Other operating charges640/8 | €5,672 | €4,934 | €282 | €13,458 | €4,547 | ▼ 66.2% |
| Non-recurring operating charges66A | €285 | - | - | - | - | - |
| Gross operating margin9900 | €22,333 | €39,687 | €63,714 | €57,090 | €38,366 | ▼ 32.8% |
| Operating profit (loss)9901 | -€7,061 | €10,941 | €41,524 | €16,853 | €7,853 | ▼ 53.4% |
| Financial income75/76B | €2,082 | - | €1 | €2 | €0 | ▼ 97.8% |
| Recurring financial income75 | €2,082 | - | €1 | €2 | €0 | ▼ 97.8% |
| Non-recurring financial income76B | €2,082 | - | - | - | - | - |
| Financial charges65/66B | €4,849 | €8,333 | €5,875 | €4,657 | €4,050 | ▼ 13.0% |
| Recurring financial charges65 | €4,849 | €2,844 | €5,875 | €4,657 | €4,050 | ▼ 13.0% |
| Non-recurring financial charges66B | - | €5,488 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€9,828 | €2,608 | €35,650 | €12,199 | €3,802 | ▼ 68.8% |
| Income taxes67/77 | - | - | €7,100 | €3,159 | €1,238 | ▼ 60.8% |
| Profit (loss) for the period9904 | -€9,828 | €2,608 | €28,550 | €9,039 | €2,565 | ▼ 71.6% |
| Profit (loss) for the period to be appropriated9905 | -€9,828 | €2,608 | €28,550 | €9,039 | €2,565 | ▼ 71.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €501,329 | €457,473 | €461,396 | €457,275 | €433,896 | ▼ 5.1% |
| Fixed assets21/28 | €457,803 | €441,507 | €424,625 | €434,357 | €421,947 | ▼ 2.9% |
| Tangible fixed assets22/27 | €448,553 | €441,507 | €424,625 | €434,357 | €421,947 | ▼ 2.9% |
| Land and buildings22 | €428,717 | €415,159 | €399,207 | €380,411 | €364,232 | ▼ 4.3% |
| Plant, machinery and equipment23 | €17,593 | €24,912 | €24,792 | €28,423 | €37,723 | ▲ 32.7% |
| Furniture and vehicles24 | €2,244 | €1,436 | €627 | €25,523 | €19,992 | ▼ 21.7% |
| Financial fixed assets28 | €9,250 | - | - | - | - | - |
| Current assets29/58 | €43,525 | €15,966 | €36,771 | €22,918 | €11,949 | ▼ 47.9% |
| Amounts receivable within one year40/41 | €2,160 | €6,564 | €18,407 | €11,506 | €2,762 | ▼ 76.0% |
| Trade receivables40 | €2,120 | €5,654 | €16,253 | €11,506 | - | - |
| Other amounts receivable41 | €40 | €911 | €2,154 | - | €2,762 | - |
| Cash at bank and in hand54/58 | €41,114 | €9,401 | €18,364 | €11,341 | €9,025 | ▼ 20.4% |
| Deferred charges and accrued income490/1 | €252 | - | - | €71 | €163 | ▲ 130% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €501,329 | €457,473 | €461,396 | €457,275 | €433,896 | ▼ 5.1% |
| Equity10/15 | €133,820 | €136,428 | €164,978 | €174,018 | €176,582 | ▲ 1.5% |
| Contributions10/11 | €75,000 | €75,000 | €75,000 | €75,000 | €75,000 | = |
| Reserves13 | €17,500 | €17,500 | €17,500 | €17,500 | €20,065 | ▲ 14.7% |
| Non-distributable reserves130/1 | €17,500 | €17,500 | €17,500 | - | - | - |
| Reserves not available under the articles1311 | €17,500 | €17,500 | - | - | - | - |
| Other1319 | - | - | €17,500 | - | - | - |
| Distributable reserves133 | - | - | - | €17,500 | €20,065 | ▲ 14.7% |
| Profit (loss) carried forward14 | €41,320 | €43,928 | €72,478 | €81,518 | €81,518 | = |
| Amounts payable17/49 | €367,509 | €321,045 | €296,418 | €283,257 | €257,314 | ▼ 9.2% |
| Amounts payable after more than one year17 | €219,355 | €191,285 | €169,939 | €166,161 | €144,089 | ▼ 13.3% |
| Financial debts170/4 | €219,355 | €191,285 | €169,939 | €166,161 | €144,089 | ▼ 13.3% |
| Amounts payable within one year42/48 | €148,154 | €129,760 | €126,479 | €117,096 | €113,225 | ▼ 3.3% |
| Current portion of amounts payable after more than one year42 | €31,009 | €28,069 | €24,160 | €30,428 | €22,822 | ▼ 25.0% |
| Financial debts43 | €1,919 | €494 | - | - | - | - |
| Credit institutions430/8 | €1,919 | €494 | - | - | - | - |
| Trade debts44 | €2,436 | €14,293 | €11,048 | €822 | €224 | ▼ 72.7% |
| Suppliers440/4 | €2,436 | €14,293 | €11,048 | €822 | €224 | ▼ 72.7% |
| Taxes, remuneration and social security45 | €12,491 | - | €7,100 | €1,159 | - | - |
| Taxes450/3 | €12,491 | - | €7,100 | €1,159 | - | - |
| Other amounts payable47/48 | €100,299 | €86,904 | €84,171 | €84,687 | €90,179 | ▲ 6.5% |
| Accrued charges and deferred income492/3 | €0 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€9,828 | €2,608 | €28,550 | €9,039 | €2,565 | ▼ 71.6% |
| + Depreciation and write-downs630 | €23,437 | €23,811 | €21,908 | €26,779 | €25,966 | ▼ 3.0% |
| Operating cash flow (approximation) | €13,609 | €26,419 | €50,459 | €35,818 | €28,530 | ▼ 20.3% |
| Investment in fixed assets (approximation) | - | -€7,515 | -€5,026 | -€36,511 | -€13,556 | ▲ 62.9% |
| Change in cash | - | -€31,712 | €8,962 | -€7,022 | -€2,316 | ▲ 67.0% |
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
30-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
04-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Equity above €150,000Eq €164,978 ▲20.9%
2 profitable years in a row build equity to €164,978.
28-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Back to profitnet €2,608
Net result €2,608 after 2 loss-making years.
30-04
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-09
Financial
Weakest financial yearnet -€9,828
Net result drops to -€9,828, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 123 days late
2020
05-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 5 days late
2019
30-09
Financial
Highest result since 2018net €61,625 ▲155%
Operating result €81,070, net result €61,625, both a record.
30-09
Financial
Equity above €100,000Eq €145,250 ▲73.7%
2 profitable years in a row build equity to €145,250.
Show earlier events
02-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
08-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
22-02
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
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, Liège · 1 establishment unit since 2015
Ground area
85 m²
Building footprint
54 m²
Volume, LiDAR
394 m³
Parcel 62047C0761/00K003, Wallonia · tallest building 8.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
-
since 20152.243.947.124
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62047C0761/00K003 | Wallonia | 85 m² | 1 · 54 m² | 8.0 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 holdingOwners 0
The accounts to 30-09-2021 list no shareholders, and no other source names one.
Holdings 1
-
50%
According to the annual accounts to 30-09-2021 of AEROSTATE and those 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.
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Of 3,762 companies in sector 68321 we hold annual accounts for 1,394. 1,008 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
Founded01-04-2015
Fiscal year end30-09
Activities, NACEBEL 2025
68321Property management for co-owned buildings (syndics)
51100Air transport
52230Warehousing and support activities for transportation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0627794292
Also
9925:BE0627794292
Registered
28-02-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.