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Agfa-Gevaert

Active
Public limited companyfounded 1964active for 62 yearsSeptestraat 27, 2640 Mortsel, BelgiumKBO/BCE: BE 0404.021.727
Summary

Agfa-Gevaert has been active since 1964 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €67.9m and a net result of -€58.0m. Equity is shrinking by about 30% per year across the filed financial years. Its solvency ranks better than 9% of 317 sector peers (NACE 20, financial year 2025). The computed 12-month bankruptcy probability is 0.9% (low).

Overview

Activity
Manufacture of chemicals and chemical products
NACE 20590
#1 employer in Mortsel6 sites
Size
€423.3mturnover 2025
Staff
1,420.4 FTE
Equity
€67.9m
Loss
-€58.0m
Standalone figures, without subsidiaries
Financial health
65 Healthy Checked score 2025
Bankruptcy probabilitywithin 12 months
0.9%
Structure
Parent
Free Float · 65.22%
Board
6 members
Holdings
33
  • Vantage Consulting BVChair · permanent representative Frank Aranzana
  • PJY Management BVManaging director · permanent representative Pascal Juéry
Auditor: PwC Bedrijfsrevisoren BV/PwC Reviseurs d'Entreprises SRLAccounts 25 days early
Why 65raises riskEquity €67.9m (5.3% of total assets)Liquidity: current ratio 0.71, cash €33.1mLoss of €58.0m, the second in a row (financial year 2025)6 establishment unitsShow the evidence

Checked score

Score 2025
65 / 100
Healthy
Probability in this band: 0.55% to 1.5%
Financially better than 19% of its sector peers (NACE 20, large)
Financial strength · tick = 2024
Weak
Solvency 30-5
equity 5.3% of total assets
Liquidity 36-2
short-term debt 37.0% · cash 2.6%
Profitability 9=
return on assets -4.6%
Bankruptcy probability, 12 months
0.9% Low
0%0.5%1.5%4%10%≥ 25%

About 9 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (44 companies, NACE 20, large)
Last 24 months 11-2024: 0.8% 12-2024: 0.8%● unchanged vs 11-2024 01-2025: 0.8%● unchanged vs 12-2024 02-2025: 0.8%● unchanged vs 01-2025lowest value 03-2025: 0.8%● unchanged vs 02-2025 04-2025: 0.8%● unchanged vs 03-2025 05-2025: 0.8%● unchanged vs 04-2025 06-2025: 0.8%● unchanged vs 05-2025 07-2025: 1.0%▲ +0.2 percentage points vs 06-2025 08-2025: 1.0%● unchanged vs 07-2025 09-2025: 1.0%● unchanged vs 08-2025 10-2025: 1.0%● unchanged vs 09-2025 11-2025: 1.0%● unchanged vs 10-2025 12-2025: 1.0%● unchanged vs 11-2025 01-2026: 1.0%● unchanged vs 12-2025 02-2026: 1.0%● unchanged vs 01-2026 03-2026: 1.0%● unchanged vs 02-2026 04-2026: 1.0%● unchanged vs 03-2026 05-2026: 1.0%● unchanged vs 04-2026 06-2026: 1.0%● unchanged vs 05-2026 07-2026: 1.0%● unchanged vs 06-2026highest value 08-2026: 0.9%▼ -0.1 percentage points vs 07-2026 09-2026: 0.9%● unchanged vs 08-2026 10-2026: 0.9%● unchanged vs 09-2026
Credit of up to €4,400,000 on 30-day terms is acceptable
Liquidity insufficient (current ratio 0.71, compared with 0.89 in 2024; short-term debt: 37% and cash: 2.6% of total assets), and 94.7% of the assets are financed with debt.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 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 20, large): better than 5% on solvency, 38% on liquidity, 10% on profitability and 22% on growth.

The bankruptcy probability was computed on 10-10-2026 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.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Seven signals.
raises riskneutral
raises risk · Equity €67.9m (5.3% of total assets)
NBB · annual accounts
raises risk · Liquidity: current ratio 0.71, cash €33.1m
NBB · annual accounts
raises risk · Loss of €58.0m, the second in a row (financial year 2025)
NBB · annual accounts
raises risk · 6 establishment units
KBO · seat and establishments
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025
Net result per financial year
1819202122232425
2018 to 2025 · latest year -€58.0m
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 317 sector peers (2025).
NBB · sector comparison
Position among 317 sector peers
Solvency
better than 9%
← weakest strongest →
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 06-07-2026, 25 days ahead of the deadline.
NBB · 5 filings
Deviation from the deadline
2025
25 days early
2024
62 days early
2023
47 days early
2022
68 days early
2021
76 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 5 accounts on average 56 days before the deadline; the sector median (NACE 20) for financial year 2024 is 22 days before the deadline, and 27% 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 30 May (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Where today falls in the filing period
11-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Resignations: Albert House BV, MRP Consulting…Appointment: inGENuity BV (independent director)…
  2. Annual accounts filedfinancial year 2025 · consolidated
  3. Annual accounts filedfinancial year 2025 · full…

Key points

  • Risk: 8 loss-making years in a rowloss financial year 2025 -€58.0m View
  • Caution: Among the weakest 5% on net resultsector median €461,868 · 318 companies -€58.0m View
  • Heads a groupcompanies controlled · known shareholders 100% 58 View
  • Board changedlatest change 01-07-2026 · 6 in office 3 joined · 3 left View
  • Caution: Equity fell in 2025from €119.3m to €67.9m ▼ 43.1% View
  • EU supportawarded 2022 - 2023 €11.5m View
  • Active since 1964founded 10-06-1964 62 years View
  • Positive: Always filed on timeaccounts within the deadline every year 5 years View

By topic

Financials

Financial year
2025
Turnover
€423.3m
Loss
-€58.0m
Solvency
5.3%
Turnover▼ 4.3%
Net result
20182025
Go to Financials

Board & ownership

Board
6 members
Largest shareholder
Free Float · 65.22%
Known shareholders
100%
Auditor
PwC Bedrijfsrevisoren BV/PwC Reviseurs…
  • Vantage Consulting BVChair
  • PJY Management BVManaging director
  • HF Routh Consulting LLCDirector
  • Paul OwsianowskiDirector
  • inGENuity BVDirector

and 1 other director

Go to Board & ownership

Timeline

Events
135
Since
1978
Next accounts
by 31-07-2027
  1. 01-07-2026Resignation: MJP Management Services BV (director)
  2. 10-04-2026Resignation: Klaus Röhrig (director)
  3. 17-06-2025Appointments: PwC Bedrijfsrevisoren BV/PwC Réviseurs d'Entreprises SRL…
Go to Timeline

Company details

Sites
6
Legal form
Public limited company
Activity
Manufacture of chemicals and chemical productsNACE 20590
Founded
10-06-1964
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Articles of association

Provisions read
2
Purpose
1° De vennootschap stelt zich tot voorwerp de vervaardiging en de verkoop van producten…
Go to Articles of association

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