AGHA
ActiveSummary
AGHA has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €8.94M and a net result of €-92k. Equity remains stable across the filed fiscal years (±0.1% per year). Its solvency ranks better than 67% of 4556 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability58▲+9
Solvency85▼-1
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €600k at 30 days acceptable
Liquidity ample (current ratio 2.4 against 2.85 in 2024; short-term debt: 24.6% and cash: 1.4% of total assets), and 40.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Six 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 · 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
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
59.6%
Return on assets
-0.6%
Age of the figures
9 mo
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 24-07-2026, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
7 d early
2024
77 d late
2023
28 d late
2022
57 d late
2021
10 d late
2020
31 d late
2019
29 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€-92k▼ 235%
2024 · €-27k
2018: €49khighest in 8 years
2019: €-177▼ -100% vs 2018
2020: €16k▲ +9190% vs 2019
2021: €12k▼ -24.4% vs 2020
2022: €14k▲ +15.1% vs 2021
2023: €10k▼ -27.8% vs 2022
2024: €-27k▼ -371% vs 2023
2025: €-92k▼ -235% vs 2024lowest in 8 years
2018 → 2025
Working capital
€5.17M▼ 7.8%
2024 · €5.61M
2018: €4.61M
2019: €4.16M▼ -9.8% vs 2018lowest in 8 years
2020: €6.03M▲ +45.1% vs 2019
2021: €5.79M▼ -3.9% vs 2020
2022: €6.12M▲ +5.8% vs 2021highest in 8 years
2023: €5.81M▼ -5.1% vs 2022
2024: €5.61M▼ -3.6% vs 2023
2025: €5.17M▼ -7.8% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€9.03M-€9.05M▲ 0.2%€9.06M▲ 0.1%€9.03M▼ 0.3%€8.94M▼ 1.0%
2021: €9.03M
2022: €9.05M▲ +0.2% vs 2021
2023: €9.06M▲ +0.1% vs 2022highest in 5 years
2024: €9.03M▼ -0.3% vs 2023
2025: €8.94M▼ -1.0% vs 2024lowest in 5 years
Operating result€108k-€4k▼ 96.3%€81k▲ 1,898%€44k▼ 45.6%€13k▼ 70.0%
2021: €108khighest in 5 years
2022: €4k▼ -96.3% vs 2021lowest in 5 years
2023: €81k▲ +1898% vs 2022
2024: €44k▼ -45.6% vs 2023
2025: €13k▼ -70.0% vs 2024
Net result€12k-€14k▲ 15.1%€10k▼ 27.8%€-27k€-92k▼ 235%
2021: €12k
2022: €14k▲ +15.1% vs 2021highest in 5 years
2023: €10k▼ -27.8% vs 2022
2024: €-27k▼ -371% vs 2023
2025: €-92k▼ -235% vs 2024lowest in 5 years
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 70% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €15.01M
Fixed assets
€6.15M ▲ 0.6%
Current assets
€8.86M ▲ 2.6%
Equity and liabilities €15.01M
Equity
€8.94M ▼ 1.0%
Debt
€6.07M ▲ 6.2%
Debt's share of the balance-sheet total rises from 38.8% to 40.4%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€237k▼
2024 · €242k
Cash flow
€132k▼
2024 · €171k
Current ratio
2.40▼
2024 · 2.85
Debt to equity
0.68▲
2024 · 0.63
ROE
-1.0%▼
2024 · -0.3%
ROA
-0.6%▼
2024 · -0.2%
Interest coverage
4.81▲
2024 · 3.68
Debt ≤ 1 year
€3.69M▲
2024 · €3.03M
Debt > 1 year
€2.37M▼
2024 · €2.67M
Income taxes
€57k▲
2024 · €9k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 52 lines
Balance sheet
Code20242025
Assets
Total assets20/58€14.75M€15.01M▲
Fixed assets21/28€6.11M€6.15M▲
Intangible fixed assets21€252k€199k▼
Tangible fixed assets22/27€5.85M€5.95M▲
Land and buildings22€5.61M€5.54M▼
Plant, machinery and equipment23€246k€403k▲
Financial fixed assets28€2k€2k=
Current assets29/58€8.64M€8.86M▲
Amounts receivable after more than one year29-€967k
Other amounts receivable291-€967k
Amounts receivable within one year40/41€8.46M€7.69M▼
Trade receivables40€786k€919k▲
Other amounts receivable41€7.67M€6.77M▼
Cash at bank and in hand54/58€185k€206k▲
Equity and liabilities
Total equity and liabilities10/49€14.75M€15.01M▲
Equity10/15€9.03M€8.94M▼
Contributions10/11€2.55M€2.55M=
Capital10€2.55M€2.55M=
Issued capital100€2.55M€2.55M=
Revaluation surpluses12€4.68M€4.68M=
Reserves13€268k€268k=
Non-distributable reserves130/1€255k€255k=
Legal reserve130€255k€255k=
Distributable reserves133€13k€13k=
Profit (loss) carried forward14€1.53M€1.44M▼
Amounts payable17/49€5.72M€6.07M▲
Amounts payable after more than one year17€2.67M€2.37M▼
Financial debts170/4€2.53M€2.22M▼
Other amounts payable178/9€143k€149k▲
Amounts payable within one year42/48€3.03M€3.69M▲
Current portion of amounts payable after more than one year42€297k€304k▲
Trade debts44€271k€304k▲
Suppliers440/4€271k€304k▲
Taxes, remuneration and social security45€4k€4k▼
Taxes450/3€4k€4k▼
Other amounts payable47/48€2.46M€3.08M▲
Accrued charges and deferred income492/3€10k€5k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€198k€224k▲
Other operating charges640/8€255k€207k▼
Gross operating margin9900€497k€444k▼
Operating profit (loss)9901€44k€13k▼
Financial income75/76B€3k€985▼
Recurring financial income75€0€985▲
Non-recurring financial income76B€3k€985▼
Financial charges65/66B€66k€49k▼
Recurring financial charges65€66k€49k▼
Profit (loss) for the period before taxes9903€-19k€-35k▼
Income taxes67/77€9k€57k▲
Profit (loss) for the period9904€-27k€-92k▼
Profit (loss) for the period to be appropriated9905€-27k€-92k▼
Appropriation of the result
Profit (loss) to be appropriated9906€1.53M€1.44M▼
Profit (loss) brought forward from the previous period14P€1.56M€1.53M▼
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €211k | €185k | €190k | €198k | €224k | ▲ 13.1% |
| Other operating charges640/8 | €67k | €148k | €126k | €255k | €207k | ▼ 18.7% |
| Non-recurring operating charges66A | €90k | €310k | €170k | - | - | - |
| Gross operating margin9900 | €475k | €646k | €567k | €497k | €444k | ▼ 10.6% |
| Operating profit (loss)9901 | €108k | €4k | €81k | €44k | €13k | ▼ 70.0% |
| Financial income75/76B | - | €91k | €3k | €3k | €985 | ▼ 68.0% |
| Recurring financial income75 | - | €91k | €3k | €0 | €985 | ▲ 9,849,900% |
| Non-recurring financial income76B | - | €91k | €3k | €3k | €985 | ▼ 68.0% |
| Financial charges65/66B | €83k | €77k | €71k | €66k | €49k | ▼ 25.0% |
| Recurring financial charges65 | €83k | €77k | €71k | €66k | €49k | ▼ 25.0% |
| Profit (loss) for the period before taxes9903 | €25k | €18k | €13k | €-19k | €-35k | ▼ 88.3% |
| Income taxes67/77 | €13k | €4k | €3k | €9k | €57k | ▲ 549% |
| Profit (loss) for the period9904 | €12k | €14k | €10k | €-27k | €-92k | ▼ 235% |
| Profit (loss) for the period to be appropriated9905 | €12k | €14k | €10k | €-27k | €-92k | ▼ 235% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €15.61M | €15.53M | €15.01M | €14.75M | €15.01M | ▲ 1.8% |
| Fixed assets21/28 | €6.67M | €6.40M | €6.22M | €6.11M | €6.15M | ▲ 0.6% |
| Intangible fixed assets21 | €412k | €359k | €305k | €252k | €199k | ▼ 21.2% |
| Tangible fixed assets22/27 | €6.25M | €6.03M | €5.91M | €5.85M | €5.95M | ▲ 1.6% |
| Land and buildings22 | €5.95M | €5.76M | €5.68M | €5.61M | €5.54M | ▼ 1.2% |
| Plant, machinery and equipment23 | €304k | €279k | €226k | €246k | €403k | ▲ 64.2% |
| Financial fixed assets28 | €2k | €2k | €2k | €2k | €2k | = |
| Current assets29/58 | €8.94M | €9.13M | €8.80M | €8.64M | €8.86M | ▲ 2.6% |
| Amounts receivable after more than one year29 | - | - | - | - | €967k | - |
| Other amounts receivable291 | - | - | - | - | €967k | - |
| Amounts receivable within one year40/41 | €8.86M | €8.85M | €8.62M | €8.46M | €7.69M | ▼ 9.1% |
| Trade receivables40 | €792k | €777k | €779k | €786k | €919k | ▲ 17.0% |
| Other amounts receivable41 | €8.07M | €8.08M | €7.84M | €7.67M | €6.77M | ▼ 11.7% |
| Cash at bank and in hand54/58 | €82k | €278k | €180k | €185k | €206k | ▲ 11.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €15.61M | €15.53M | €15.01M | €14.75M | €15.01M | ▲ 1.8% |
| Equity10/15 | €9.03M | €9.05M | €9.06M | €9.03M | €8.94M | ▼ 1.0% |
| Contributions10/11 | €2.55M | €2.55M | €2.55M | €2.55M | €2.55M | = |
| Capital10 | €2.55M | €2.55M | €2.55M | €2.55M | €2.55M | = |
| Issued capital100 | €2.55M | €2.55M | €2.55M | €2.55M | €2.55M | = |
| Revaluation surpluses12 | €4.68M | €4.68M | €4.68M | €4.68M | €4.68M | = |
| Reserves13 | €268k | €268k | €268k | €268k | €268k | = |
| Non-distributable reserves130/1 | €255k | €255k | €255k | €255k | €255k | = |
| Legal reserve130 | €255k | €255k | €255k | €255k | €255k | = |
| Distributable reserves133 | €13k | €13k | €13k | €13k | €13k | = |
| Profit (loss) carried forward14 | €1.53M | €1.55M | €1.56M | €1.53M | €1.44M | ▼ 6.0% |
| Amounts payable17/49 | €6.57M | €6.48M | €5.95M | €5.72M | €6.07M | ▲ 6.2% |
| Amounts payable after more than one year17 | €3.38M | €3.15M | €2.96M | €2.67M | €2.37M | ▼ 11.4% |
| Financial debts170/4 | €3.38M | €3.11M | €2.83M | €2.53M | €2.22M | ▼ 12.2% |
| Other amounts payable178/9 | - | €41k | €136k | €143k | €149k | ▲ 4.3% |
| Amounts payable within one year42/48 | €3.15M | €3.01M | €2.98M | €3.03M | €3.69M | ▲ 21.7% |
| Current portion of amounts payable after more than one year42 | €280k | €284k | €291k | €297k | €304k | ▲ 2.3% |
| Trade debts44 | €205k | €59k | €29k | €271k | €304k | ▲ 12.2% |
| Suppliers440/4 | €205k | €59k | €29k | €271k | €304k | ▲ 12.2% |
| Taxes, remuneration and social security45 | €4k | €4k | €4k | €4k | €4k | ▼ 0.1% |
| Taxes450/3 | €4k | €4k | €4k | €4k | €4k | ▼ 0.1% |
| Other amounts payable47/48 | €2.66M | €2.66M | €2.66M | €2.46M | €3.08M | ▲ 25.2% |
| Accrued charges and deferred income492/3 | €38k | €321k | €10k | €10k | €5k | ▼ 45.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €12k | €14k | €10k | €-27k | €-92k | ▼ 235% |
| + Depreciation and write-downs630 | €211k | €185k | €190k | €198k | €224k | ▲ 13.1% |
| Operating cash flow (approximation) | €223k | €199k | €200k | €171k | €132k | ▼ 22.6% |
| Investment in fixed assets (approximation) | - | €85k | €-10k | €-91k | €-261k | ▼ 187% |
| Change in cash | - | €197k | €-99k | €5k | €21k | ▲ 286% |
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
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €-92k
Net result drops to €-92k, the lowest in the series.
16-10
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 77 days late
2024
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 28 days late
2023
26-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 57 days late
2022
10-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 10 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Back to profitnet €16k
Net result €16k after one loss-making year.
29-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 29 days late
2019
31-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 31 days late
2018
30-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 61 days late
2017
28-06
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 6 acts read
About the unread acts
We know of 6 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
6 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, Vorst · 1 establishment unit since 1989
Ground area
488 m²
Building footprint
294 m²
Volume, LiDAR
3,502 m³
2 parcels, Brussels · tallest building 18.2 m, ±5 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
Villalaan 101, 1190 Vorst
since 19892.046.296.657
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21007A0117/00M004 | Brussels | 337 m² | 1 · 136 m² | 13.9 m · 3 fl. |
| 21007A0117/00W002 | Brussels | 151 m² | 1 · 158 m² | 18.1 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 12,020 companies in sector 68203 we hold annual accounts for 5,986. 2,010 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded15-12-1989
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
Scores and ratios are computed by Checked and are not a credit decision.