AG SYSTEMS
Open bankruptcyA bankruptcy procedure is open for AG SYSTEMS according to publications in the Belgian State Gazette; curator: KOEN VANDER STUYFT.
Summary
The 2024 annual accounts show equity of €78,678 and a net result of €1,624.
Are you a creditor?
Open bankruptcy
Source: Belgian Official Gazette
If this company owes you money, you are not paid automatically: you file your claim yourself, within the deadline the judgment sets.
The procedure
- Court
- Enterprise Court of Ghent, Ghent division
- Declared bankrupt
- 17 June 2025
- Supervising judge
- Isabelle Van Vooren
- Official Gazette
- 23-06-2025 (pdf) ↗search the document for 2025/127000
Deadlines
- Provisional date payments stopped
- 11 June 2025Payments and security you received since that day can in some cases be challenged by the curator. A later judgment can change the date.art. XX.105, XX.111 and XX.112 CEL
- Appeal or third-party opposition until
- passed on 8 July 2025Fifteen days after the publication in the Official Gazette.art. XX.108 CEL
- File the claim in RegSol until
- passed on 17 July 2025art. XX.104 and XX.155 CEL
- First verification report
- passed on 22 July 2025Goods that belong to you, such as those delivered under retention of title, are reclaimed before this day.art. XX.104 and XX.194 CEL
- Late claim until
- passed on 17 June 2026Late, you share only in what has not been paid out yet, and the costs are yours.art. XX.165 CEL
Curator
- Koen Vander StuyftKerkkouter 14, 9700 Oudenaarde- . 55355 Moniteur Belge — 23.06.2025 — Belgisch Staatsbladkoen@advocaatvanderstuyft.be
What to do now
- Do not deliver on credit any more without an agreement with the curator.
- Gather your documents: invoices, purchase orders, contract, delivery notes and reminders.
- File your proof of claim in RegSol (regsol.be), yourself with eID or itsme, or through your lawyer. State principal, interest and costs separately, and any preferential right you hold.
- Delivered under retention of title? Reclaim your goods before the first report on the verification of claims.
- Ask your accountant about the VAT on the unpaid invoices: in a bankruptcy it can be recovered under conditions.
- Follow the file in RegSol: the verification report (admitted or disputed) and the curator's reports appear there.
The deadlines above come from the publication of the judgment. Check them in RegSol before you file anything; a passed deadline no longer applies.
File a claim in RegSol ↗
Watch
Follow this bankruptcy: you are alerted when it is closed or reversed.
General information, not legal advice. If in doubt, the curator, your lawyer or your accountant can help.Creditor guide for this company
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Signals
Two signals.
+raises risk
Checked, nothing found (1)
History
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Is the registered address a letterbox address or a business centre?Addresses Are there other customers at risk in your own list?List enrichment How is the Other technical testing and analysis sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, micro schema
Equity
€78,678▲ 2.1%
2023 · €77,054
Total assets
€159,537▲ 46.0%
2023 · €109,270
Net result
€1,624▼ 92.2%
2023 · €20,811
Working capital
€78,616▲ 2.6%
2023 · €76,611
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, 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
Line20202021202220232024
Operating result€4,505€31,523▲ 600%€36,403▲ 15.5%€32,365▼ 11.1%€3,580▼ 88.9%
Net result€1,783within the sector's middle half€28,506within the sector's middle half▲ 1,499%€27,186within the sector's middle half▼ 4.6%€20,811within the sector's middle half▼ 23.5%€1,624within the sector's middle half▼ 92.2%
Equity€921below the sector's middle half€29,427within the sector's middle half▲ 3,094%€56,613within the sector's middle half▲ 92.4%€77,054within the sector's middle half▲ 36.1%€78,678within the sector's middle half▲ 2.1%
Total assets€37,259below the sector's middle half▼ 33.3%€61,539below the sector's middle half▲ 65.2%€92,666within the sector's middle half▲ 50.6%€109,270within the sector's middle half▲ 17.9%€159,537within the sector's middle half▲ 46.0%
Debt€36,338▼ 35.9%€32,113▼ 11.6%€36,052▲ 12.3%€32,216▼ 10.6%€80,859▲ 151%
Working capital€1,293€29,207▲ 2,160%€55,422▲ 89.8%€76,611▲ 38.2%€78,616▲ 2.6%
Solvency2.5%below the sector's middle half▲ 4.0pp47.8%within the sector's middle half▲ 45.3pp61.1%within the sector's middle half▲ 13.3pp70.5%within the sector's middle half▲ 9.4pp49.3%within the sector's middle half▼ 21.2pp
above
within
below
the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, 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; 2024 is 89% below 2023 and is the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €159,537
Fixed assets
€62 ▼ 85.9%
Current assets
€159,474 ▲ 46.5%
Equity and liabilities €159,537
Equity
€78,678 ▲ 2.1%
Debt
€80,859 ▲ 151%
Debt's share of the balance-sheet total rises from 29.5% to 50.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€3,960▼
2023 · €33,033
Cash flow
€2,004▼
2023 · €21,479
Current ratio
1.97▼
2023 · 3.38
Debt to equity
1.03▲
2023 · 0.42
ROE
2.1%▼
2023 · 27.0%
ROA
1.0%▼
2023 · 19.0%
Interest coverage
2.91▼
2023 · 7.36
Debt ≤ 1 year
€80,859▲
2023 · €32,216
Income taxes
€597▼
2023 · €7,064
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €11,000 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,727 | €5,017 | €5,000 | €668 | €380 | ▼ 43.1% |
| Other operating charges640/8 | - | €1,964 | €112 | €1,881 | €198 | ▼ 89.5% |
| Gross operating margin9900 | €12,625 | €38,504 | €41,515 | €34,914 | €4,158 | ▼ 88.1% |
| Operating profit (loss)9901 | €4,505 | €31,523 | €36,403 | €32,365 | €3,580 | ▼ 88.9% |
| Recurring financial income75 | €415 | - | - | - | - | - |
| Financial charges65/66B | - | €1,746 | €1,395 | €4,491 | €1,359 | ▼ 69.7% |
| Recurring financial charges65 | €3,022 | €1,746 | €1,395 | €4,491 | €1,359 | ▼ 69.7% |
| Profit (loss) for the period before taxes9903 | €1,899 | €29,777 | €35,008 | €27,874 | €2,221 | ▼ 92.0% |
| Income taxes67/77 | €116 | €1,271 | €7,821 | €7,064 | €597 | ▼ 91.6% |
| Profit (loss) for the period9904 | €1,783 | €28,506 | €27,186 | €20,811 | €1,624 | ▼ 92.2% |
| Profit (loss) for the period to be appropriated9905 | €1,783 | €28,506 | €27,186 | €20,811 | €1,624 | ▼ 92.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €37,259 | €61,539 | €92,666 | €109,270 | €159,537 | ▲ 46.0% |
| Fixed assets21/28 | €10,102 | €5,050 | €1,191 | €443 | €62 | ▼ 85.9% |
| Tangible fixed assets22/27 | €9,987 | €4,970 | €1,111 | €443 | €62 | ▼ 85.9% |
| Plant, machinery and equipment23 | - | €576 | €288 | €443 | €62 | ▼ 85.9% |
| Furniture and vehicles24 | - | €4,394 | €823 | - | - | - |
| Financial fixed assets28 | €115 | €80 | €80 | - | - | - |
| Current assets29/58 | €27,157 | €56,489 | €91,475 | €108,827 | €159,474 | ▲ 46.5% |
| Amounts receivable after more than one year29 | - | €16,000 | €16,000 | - | - | - |
| Other amounts receivable291 | - | €16,000 | €16,000 | - | - | - |
| Amounts receivable within one year40/41 | €6,671 | €40,489 | €72,681 | €108,827 | €159,474 | ▲ 46.5% |
| Trade receivables40 | - | €16,197 | €18,726 | €41,202 | €75,139 | ▲ 82.4% |
| Other amounts receivable41 | - | €24,292 | €53,956 | €67,625 | €84,336 | ▲ 24.7% |
| Cash at bank and in hand54/58 | €3,484 | - | - | - | - | - |
| Deferred charges and accrued income490/1 | - | - | €2,793 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €37,259 | €61,539 | €92,666 | €109,270 | €159,537 | ▲ 46.0% |
| Equity10/15 | €921 | €29,427 | €56,613 | €77,054 | €78,678 | ▲ 2.1% |
| Contributions10/11 | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Capital10 | - | €2,000 | €2,000 | - | - | - |
| Issued capital100 | - | €2,000 | €2,000 | - | - | - |
| Reserves13 | €15,294 | €15,294 | €54,613 | €54,613 | €54,613 | = |
| Non-distributable reserves130/1 | - | - | €15,294 | €15,294 | €15,294 | = |
| Legal reserve130 | - | - | €15,294 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €15,294 | €15,294 | = |
| Distributable reserves133 | - | €15,294 | €39,319 | €39,319 | €39,319 | = |
| Profit (loss) carried forward14 | -€16,373 | €12,132 | - | €20,441 | €22,065 | ▲ 7.9% |
| Amounts payable17/49 | €36,338 | €32,113 | €36,052 | €32,216 | €80,859 | ▲ 151% |
| Amounts payable after more than one year17 | €10,474 | €4,830 | - | - | - | - |
| Financial debts170/4 | - | €4,830 | - | - | - | - |
| Amounts payable within one year42/48 | €25,865 | €27,283 | €36,052 | €32,216 | €80,859 | ▲ 151% |
| Current portion of amounts payable after more than one year42 | - | €6,107 | €4,830 | - | - | - |
| Financial debts43 | - | €3,932 | €5,824 | €1,284 | €5,963 | ▲ 364% |
| Credit institutions430/8 | - | €3,932 | €5,824 | €1,284 | €5,963 | ▲ 364% |
| Trade debts44 | €10,089 | €7,925 | €4,868 | €4,071 | €56,743 | ▲ 1,294% |
| Suppliers440/4 | - | €7,925 | €4,868 | €4,071 | €56,743 | ▲ 1,294% |
| Advances received on contracts in progress46 | - | - | - | €19,797 | - | - |
| Taxes, remuneration and social security45 | - | €9,319 | €20,531 | €7,064 | €18,153 | ▲ 157% |
| Taxes450/3 | - | €9,319 | €20,531 | €7,064 | €16,153 | ▲ 129% |
| Remuneration and social security454/9 | - | - | - | - | €2,000 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,783 | €28,506 | €27,186 | €20,811 | €1,624 | ▼ 92.2% |
| + Depreciation and write-downs630 | €6,727 | €5,017 | €5,000 | €668 | €380 | ▼ 43.1% |
| Operating cash flow (approximation) | €8,510 | €33,523 | €32,186 | €21,479 | €2,004 | ▼ 90.7% |
| Investment in fixed assets (approximation) | - | €35 | -€1,140 | €80 | €0 | ▼ 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
2025
05-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 127 days late
23-06
Bankruptcy
Opening
Ondernemingsrechtbank Gent, afdeling Gent · event 17-06-2025
2024
02-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 33 days late
2023
26-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 118 days late
26-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 299 days late
2021
31-12
Financial
Highest result since 2018net €28,506 ▲1,499%
Net result €28,506, the highest in the series.
18-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 79 days late
2020
31-12
Financial
Back to profitnet €1,783
Net result €1,783 after one loss-making year.
09-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 101 days late
2019
31-12
Financial
Weakest financial yearnet -€34,070
Net result drops to -€34,070, the lowest in the series.
16-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 77 days late
2018
29-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
25-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 25 days late
2016
01-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
SignalFinancial 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.
Have them read with priority
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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, Gent · 1 establishment unit since 2011
Ground area
496 m²
Building footprint
291 m²
Volume, LiDAR
3,014 m³
Parcel 44432C0602/00B002, Flanders · tallest building 14.2 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
AG SYSTEMS
since 20112.202.745.383
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44432C0602/00B002 | Flanders | 496 m² | 1 · 291 m² | 14.2 m · 4 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.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | KOEN VANDER STUYFT KERKKOUTER 14,
9700 OUDENAARDE- .
55355
MONITEUR BELGE — 23.06.2025 — BELGISCH STAATSBLAD |
17-06-2025 → present |
Public money · subsidies and aid
Flemish government
2022 to 2024 · 3 entries · 2,474 EUR awarded · 2,474 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 510 EUR | 1,050 EUR |
| 2023 | 1 | 1,601 EUR | 1,061 EUR |
| 2022 | 1 | 363 EUR | 363 EUR |
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Of 2,147 companies in sector 71209 we hold annual accounts for 1,090. 809 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
Founded08-09-2011
Fiscal year end31-12
Activities, NACEBEL 2025
71209Other technical testing and analysis
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.