AG HEATING

Active

Private limited companyfounded 201412 yrs activeKiekenmarkt 61, 1000 Brussel, BelgiumKBO/BCE: BE 0561.912.585

The computed 12-month bankruptcy probability of AG HEATING is 1.8% (moderate). The 2024 annual accounts show equity of €319k and a net result of €61k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 32% of 36377 sector peers (fiscal year 2024). The company has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

83 / 100

Excellent▼ -17 vs 2023

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability95▼-5

Solvency64▼-33

Growth78=

Stability100

Bankruptcy probability, 12 months

1.8% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €25k at 30 days acceptable

Liquidity ample (current ratio 1.72 against 1.94 in 2023), but 69.5% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Six signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 43

Relative position

BE, all sectors

reference

Sector 43

higher

← fewer bankruptcies more bankruptcies →

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Growing equity

Equity grew over 2022-2024. Profits are largely retained rather than distributed.

NBB · annual accounts 2024

Equity per financial year

18192021222324

2018 to 2024 · latest year €319k

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 25-09-2025, 56 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.

NBB · 10 filings

Deviation from the deadline

2025

not confirmed

2024

56 d late

2023

12 d late

2022

2 d late

2021

1 d early

2020

9 d early

2019

20 d late

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, micro schema

Equity

€319k▲ 23.6%

2023 · €258k

2018: €67k 2019: €75k 2020: €83k 2021: €69k 2022: €80k 2023: €258k

2018 → 2024

Total assets

€1.05M▲ 136%

2023 · €444k

2018: €149k 2019: €187k 2020: €126k 2021: €129k 2022: €151k 2023: €444k

2018 → 2024

Net result

€61k▼ 67.2%

2023 · €186k

2018: €5k 2019: €8k 2020: €8k 2021: €-14k 2022: €10k 2023: €186k

2018 → 2024

Working capital

€216k▲ 24.3%

2023 · €174k

2018: €53k 2019: €63k 2020: €76k 2021: €60k 2022: €70k 2023: €174k

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€83k-€69k▼ 17.2%€80k▲ 15.1%€258k▲ 225%€319k▲ 23.6%

Operating result€16k-€-11k€17k€279k▲ 1,532%€106k▼ 61.9%

Net result€8k-€-14k€10k€186k▲ 1,685%€61k▼ 67.2%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result falls in 2024; 2024 is 62% below 2023.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €1.05M

50.7%

49.3%

Fixed assets €530k▲ 524%

Current assets €517k▲ 43.8%

Equity and liabilities €1.05M

30.5%

69.5%

Equity €319k▲ 23.6%

Debt €728k▲ 292%

The debt ratio rises from 41.8% to 69.5%: debt grows faster than equity.

Key figures and ratios

2024 value · change against 2023

EBITDA

€125k▼

2023 · €286k

Cash flow

€80k▼

2023 · €192k

Solvency

30.5%▼

2023 · 58.2%

Current ratio

1.72▼

2023 · 1.94

Quick ratio

1.70▼

2023 · 1.92

Debt / equity

2.28▲

2023 · 0.72

ROE

19.1%▼

2023 · 71.9%

ROA

5.8%▼

2023 · 41.8%

Interest coverage

10.43▼

2023 · 129.30

Debt

€728k▲

2023 · €186k

Debt ≤ 1 year

€301k▲

2023 · €185k

Debt > 1 year

€427k▲

2023 · €332

Income taxes

€33k▼

2023 · €91k

Staff costs

€133k▲

2023 · €61k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€444k€1.05M▲

Fixed assets21/28€85k€530k▲

Tangible fixed assets22/27€30k€475k▲

Land and buildings22-€421k

Plant, machinery and equipment23-€33k

Furniture and vehicles24€30k€21k▼

Financial fixed assets28€55k€55k=

Current assets29/58€359k€517k▲

Amounts receivable after more than one year29€45k€48k▲

Other amounts receivable291€45k€48k▲

Stocks and contracts in progress3€3k€6k▲

Stocks30/36€3k€6k▲

Amounts receivable within one year40/41€158k€346k▲

Trade receivables40€121k€180k▲

Other amounts receivable41€36k€166k▲

Cash at bank and in hand54/58€150k€114k▼

Deferred charges and accrued income490/1€3k€3k▼

Equity and liabilities

Total equity and liabilities10/49€444k€1.05M▲

Equity10/15€258k€319k▲

Contributions10/11€8k€8k=

Reserves13€215k€240k▲

Distributable reserves133€215k€240k▲

Profit (loss) carried forward14€35k€71k▲

Amounts payable17/49€186k€728k▲

Amounts payable after more than one year17€332€427k▲

Financial debts170/4€332€427k▲

Amounts payable within one year42/48€185k€301k▲

Current portion of amounts payable after more than one year42€4k€47k▲

Financial debts43€30k€30k=

Credit institutions430/8€30k€30k=

Trade debts44€47k€118k▲

Suppliers440/4€47k€118k▲

Taxes, remuneration and social security45€104k€106k▲

Taxes450/3€89k€88k▼

Remuneration and social security454/9€15k€18k▲

Other amounts payable47/48€577-

Income statement Code20232024

Remuneration, social security and pensions62€61k€133k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7k€19k▲

Other operating charges640/8€10k€24k▲

Non-recurring operating charges66A-€5k

Gross operating margin9900€356k€288k▼

Operating profit (loss)9901€279k€106k▼

Financial income75/76B€423€0▼

Recurring financial income75€423€0▼

Financial charges65/66B€2k€12k▲

Recurring financial charges65€2k€12k▲

Profit (loss) for the period before taxes9903€277k€94k▼

Income taxes67/77€91k€33k▼

Profit (loss) for the period9904€186k€61k▼

Profit (loss) for the period to be appropriated9905€186k€61k▼

Appropriation of the result

Profit (loss) to be appropriated9906€220k€96k▼

Profit (loss) brought forward from the previous period14P€34k€35k▲

Transfer to equity691/2€185k€25k▼

To other reserves6921€185k€25k▼

The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 14Financial 4Filings 10

2025

25-09

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 56 days late

2024

12-08

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 12 days late

2023

31-12

Financial Highest result since 2018net €186k ▲1685%

Operating result €279k, net result €186k, both a record.

31-12

Financial Equity above €200kEq €258k ▲225%

2 profitable years in a row build equity to €258k.

02-08

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 2 days late

2022

31-12

Financial Back to profitnet €10k

Net result €10k after one loss-making year.

30-07

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

31-12

Financial Weakest financial yearnet €-14k ▼269%

Net result drops to €-14k, the lowest in the series; recovery starts the following year.

22-07

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

2020

20-08

NBB filing Annual accounts filed

fiscal year 2019 · micro schema · 20 days late

2019

06-08

NBB filing Annual accounts filed

fiscal year 2018 · micro schema · 6 days late

2018

08-08

NBB filing Annual accounts filed

fiscal year 2017 · micro schema · 8 days late

2017

28-07

NBB filing Annual accounts filed

fiscal year 2016 · full schema

2016

24-06

NBB filing Annual accounts filed

fiscal year 2015 · full schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

20 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, Brussel · 1 establishment unit since 2014

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Kiekenmarkt 611000 Brussel

Ground area

312 m²

Building footprint

61 m²

Volume, LiDAR

621 m³