AGERIM
ActiveFinancials · financial year 2025, abbreviated format
2025 annual accounts filed 6 days after the deadline Filed on 6 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00391123.
Annual accounts 2025 filed on 06-08-2026 at the NBB all 34 filings
Every figure per financial year
The operating result for 2025 is 5% higher than in 2024 and the highest since 2021. It is the fourth rise in a row.
The turnover shown is an estimate from the gross margin.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €5,832 | - | - | €5,208 | - |
| Depreciation and write-downs of the year | €6,948 | €7,101 | €7,026 | €7,099 | €7,383 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €46 | €32 | €16 | €9 | ▼ 44.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,751 | €8,372 | €8,076 | €6,948 | €7,101 | €7,026 | €7,099 | €7,383 | ▲ 4.0% |
| Other operating charges640/8 | - | - | - | €2,358 | €2,407 | €2,642 | €2,695 | €2,780 | ▲ 3.2% |
| Gross operating margin9900 | €24,340 | €23,479 | €27,118 | €18,139 | €25,063 | €25,978 | €26,347 | €27,622 | ▲ 4.8% |
| Operating profit (loss)9901 | €14,314 | €12,793 | €16,699 | €8,833 | €15,555 | €16,309 | €16,552 | €17,459 | ▲ 5.5% |
| Financial income75/76B | - | - | - | - | - | €138 | €454 | €554 | ▲ 22.1% |
| Recurring financial income75 | €35 | - | - | - | - | €138 | €454 | €554 | ▲ 22.1% |
| Financial charges65/66B | - | - | - | €1,513 | €1,081 | €625 | €170 | €45 | ▼ 73.6% |
| Recurring financial charges65 | €2,761 | €2,313 | €1,921 | €1,513 | €1,081 | €625 | €170 | €45 | ▼ 73.6% |
| Profit (loss) for the period before taxes9903 | €11,589 | €10,480 | €14,778 | €7,320 | €14,475 | €15,822 | €16,836 | €17,969 | ▲ 6.7% |
| Income taxes67/77 | €2,356 | €3,175 | €4,480 | €1,971 | €4,623 | €4,962 | €5,204 | €4,648 | ▼ 10.7% |
| Profit (loss) for the period9904 | €9,233 | €7,305 | €10,298 | €5,349 | €9,852 | €10,860 | €11,632 | €13,321 | ▲ 14.5% |
| Profit (loss) for the period to be appropriated9905 | €9,233 | €7,305 | €10,298 | €5,349 | €9,852 | €10,860 | €11,632 | €13,321 | ▲ 14.5% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €161,013 | €149,965 | €154,176 | €151,540 | €151,379 | €153,554 | €161,509 | €172,582 | ▲ 6.9% |
| Fixed assets21/28 | €97,552 | €99,697 | €100,973 | €99,858 | €92,757 | €85,730 | €83,839 | €76,456 | ▼ 8.8% |
| Tangible fixed assets22/27 | €97,552 | €99,697 | €100,973 | €99,858 | €92,757 | €85,730 | €83,839 | €76,456 | ▼ 8.8% |
| Land and buildings22 | - | - | - | €64,886 | €61,369 | €57,852 | €54,334 | €50,817 | ▼ 6.5% |
| Other tangible fixed assets26 | - | - | - | €34,971 | €31,388 | €27,879 | €29,505 | €25,639 | ▼ 13.1% |
| Current assets29/58 | €63,461 | €50,268 | €53,203 | €51,682 | €58,622 | €67,824 | €77,670 | €96,126 | ▲ 23.8% |
| Amounts receivable within one year40/41 | €1,625 | €1,625 | €2,132 | €2,641 | €1,612 | €1,612 | €1,612 | €1,863 | ▲ 15.6% |
| Trade receivables40 | - | - | - | €0 | - | - | - | - | - |
| Other amounts receivable41 | - | - | - | €2,641 | €1,612 | €1,612 | €1,612 | €1,863 | ▲ 15.6% |
| Cash at bank and in hand54/58 | €61,836 | €48,644 | €51,071 | €49,041 | €57,010 | €66,212 | €76,058 | €94,263 | ▲ 23.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €161,013 | €149,965 | €154,176 | €151,540 | €151,379 | €153,554 | €161,509 | €172,582 | ▲ 6.9% |
| Equity10/15 | €103,405 | €110,710 | €121,009 | €126,357 | €136,209 | €147,069 | €158,701 | €159,367 | ▲ 0.4% |
| Contributions10/11 | €102,876 | €102,876 | €102,876 | €102,876 | €102,876 | €102,876 | €102,876 | €102,876 | = |
| Capital10 | - | - | - | €102,876 | €102,876 | €102,876 | €102,876 | €102,876 | = |
| Issued capital100 | - | - | - | €102,876 | €102,876 | €102,876 | €102,876 | €102,876 | = |
| Reserves13 | €529 | €7,834 | €18,133 | €23,482 | €33,333 | €44,193 | €55,825 | €56,491 | ▲ 1.2% |
| Non-distributable reserves130/1 | - | - | - | €1,785 | €2,324 | €2,916 | €3,553 | €4,219 | ▲ 18.7% |
| Legal reserve130 | - | - | - | €1,785 | €2,324 | €2,916 | €3,553 | €4,219 | ▲ 18.7% |
| Tax-exempt reserves132 | - | - | - | €21,697 | €31,009 | €41,277 | €52,273 | €52,273 | = |
| Amounts payable17/49 | €57,608 | €39,255 | €33,168 | €25,182 | €15,170 | €6,485 | €2,808 | €13,215 | ▲ 371% |
| Amounts payable after more than one year17 | €39,085 | €31,329 | €23,160 | €14,559 | €5,503 | - | - | - | - |
| Financial debts170/4 | - | - | - | €14,559 | €5,503 | - | - | - | - |
| Amounts payable within one year42/48 | €18,043 | €7,926 | €10,007 | €10,623 | €9,667 | €6,485 | €2,258 | €12,655 | ▲ 460% |
| Current portion of amounts payable after more than one year42 | - | - | - | €8,601 | €9,056 | €5,503 | - | - | - |
| Trade debts44 | - | - | €204 | €555 | - | - | €700 | - | - |
| Suppliers440/4 | - | - | - | €555 | - | - | €700 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €1,467 | €611 | €982 | €1,558 | - | - |
| Taxes450/3 | - | - | - | €1,467 | €611 | €982 | €1,558 | - | - |
| Other amounts payable47/48 | - | - | - | - | - | - | - | €12,655 | - |
| Accrued charges and deferred income492/3 | - | - | - | - | - | - | €550 | €560 | ▲ 1.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9,233 | €7,305 | €10,298 | €5,349 | €9,852 | €10,860 | €11,632 | €13,321 | ▲ 14.5% |
| + Depreciation and write-downs630 | €7,751 | €8,372 | €8,076 | €6,948 | €7,101 | €7,026 | €7,099 | €7,383 | ▲ 4.0% |
| Operating cash flow (approximation) | €16,983 | €15,677 | €18,374 | €12,297 | €16,953 | €17,887 | €18,731 | €20,704 | ▲ 10.5% |
| Investment in fixed assets (approximation) | - | -€10,516 | -€9,352 | -€5,832 | €0 | €0 | -€5,208 | €0 | - |
| Change in cash | - | -€13,193 | €2,427 | -€2,030 | €7,969 | €9,202 | €9,846 | €18,205 | ▲ 84.9% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 31,368 companies had the same profile as AGERIM has now. Two years later, 93.5% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of AGERIM itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 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 31,368 companies, not a prediction for AGERIM. 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.
Latest 10 of 34 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 06-08-2026 | 2026-00391123 | |
| 31-12-2024 | micro format | 29-07-2025 | 2025-00325216 | |
| 31-12-2023 | full format | 25-07-2024 | 2024-00280561 | |
| 31-12-2022 | full format | 29-06-2023 | 2023-00183909 | |
| 31-12-2021 | full format | 29-07-2022 | 2022-20253266 | |
| 31-12-2020 | full format | 30-07-2021 | 2021-44500075 | |
| 31-12-2019 | full format | 30-07-2020 | 2020-37900080 | |
| 31-12-2018 | full format | 26-07-2019 | 2019-39200495 | |
| 31-12-2017 | full format | 31-08-2018 | 2018-59700492 | |
| 31-12-2016 | full format | 28-07-2017 | 2017-36000202 |