AGHORA
ActiveSummary
AGHORA has been active since 1998 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.1m and a net result of €119,527. Equity is shrinking by ~2.6% per year across the filed fiscal years. Its solvency ranks better than 75% of 4577 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability68▲+20
Solvency96▲+25
Growth32=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €170,000 at 30 days acceptable
Liquidity ample (current ratio 7.88 against 0.22 in 2024; short-term debt: 3.9% and cash: 9.3% of total assets), and 28.8% of the assets are financed with debt.
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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
71.2%
Return on assets
4%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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 filingsDeviation from the deadline
2025
28 d late
2024
1 d early
2023
21 d late
2022
28 d early
2021
23 d early
2020
3 d early
2019
28 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 5 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€119,527▼ 35.5%
2024 · €185,178
Working capital
€801,084
2024 · -€1.8m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, 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
Line20212022202320242025
Operating result-€3,541▲ 23.7%-€3,288▲ 7.1%-€3,616▼ 10.0%-€2,762▲ 23.6%€155,175
Net result-€46,335below the sector's middle half▼ 565%-€124,809below the sector's middle half▼ 169%-€47,396below the sector's middle half▲ 62.0%€185,178above the sector's middle half€119,527within the sector's middle half▼ 35.5%
Equity€2.2mabove the sector's middle half▼ 2.1%€2.1mabove the sector's middle half▼ 5.6%€2.0mabove the sector's middle half▼ 2.3%€2.0mabove the sector's middle half▼ 2.2%€2.1mwithin the sector's middle half▲ 6.0%
Total assets€4.4mwithin the sector's middle half=€4.3mwithin the sector's middle half▼ 1.8%€4.3mwithin the sector's middle half=€4.3mwithin the sector's middle half▲ 0.7%€3.0mwithin the sector's middle half▼ 31.0%
Debt€2.1m▲ 2.2%€2.2m▲ 2.2%€2.2m▲ 2.2%€2.3m▲ 3.3%€854,891▼ 63.0%
Working capital-€1.6m▼ 11.7%-€1.7m▼ 8.0%-€1.7m▼ 2.8%-€1.8m▼ 4.3%€801,084
Solvency50.8%within the sector's middle half▼ 1.1pp48.8%within the sector's middle half▼ 2.0pp47.7%within the sector's middle half▼ 1.1pp46.3%within the sector's middle half▼ 1.4pp71.2%within the sector's middle half▲ 24.9pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €155,175 after a loss of €2,762 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.0m
Fixed assets
€2.0m ▼ 46.2%
Current assets
€917,453 ▲ 83.5%
Equity and liabilities €3.0m
Equity
€2.1m ▲ 6.0%
Debt
€854,891 ▼ 63.0%
Debt's share of the balance-sheet total falls from 53.7% to 28.8%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€179,215
Cash flow
€143,566
Current ratio
7.88▲
2024 · 0.22
Debt to equity
0.40▼
2024 · 1.16
ROE
5.7%▼
2024 · 9.3%
ROA
4.0%▼
2024 · 4.3%
Interest coverage
5.29
Debt ≤ 1 year
€116,369▼
2024 · €2.3m
Debt > 1 year
€738,522
Income taxes
€5,109
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 14,684 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.2%
went bankrupt
3.5%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 14,684 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | €24,039 | - |
| Other operating charges640/8 | - | - | - | - | €250 | - |
| Gross operating margin9900 | -€3,541 | -€3,288 | -€3,616 | -€2,762 | €179,465 | ▲ 6,598% |
| Operating profit (loss)9901 | -€3,541 | -€3,288 | -€3,616 | -€2,762 | €155,175 | ▲ 5,718% |
| Financial income75/76B | - | - | - | €230,667 | €3,331 | ▼ 98.6% |
| Recurring financial income75 | - | - | - | €230,667 | €3,331 | ▼ 98.6% |
| Non-recurring financial income76B | - | - | - | €230,667 | - | - |
| Financial charges65/66B | €42,794 | €121,521 | €43,780 | €42,727 | €33,870 | ▼ 20.7% |
| Recurring financial charges65 | €42,794 | €121,521 | €43,780 | €42,727 | €33,870 | ▼ 20.7% |
| Profit (loss) for the period before taxes9903 | -€46,335 | -€124,809 | -€47,396 | €185,178 | €124,636 | ▼ 32.7% |
| Income taxes67/77 | - | - | - | - | €5,109 | - |
| Profit (loss) for the period9904 | -€46,335 | -€124,809 | -€47,396 | €185,178 | €119,527 | ▼ 35.5% |
| Transfer from tax-exempt reserves789 | - | - | - | €18,750 | €0 | ▼ 100% |
| Profit (loss) for the period to be appropriated9905 | -€46,335 | -€124,809 | -€47,396 | €203,928 | €119,527 | ▼ 41.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.4m | €4.3m | €4.3m | €4.3m | €3.0m | ▼ 31.0% |
| Formation expenses20 | - | - | - | - | €2,074 | - |
| Fixed assets21/28 | €3.8m | €3.8m | €3.8m | €3.8m | €2.0m | ▼ 46.2% |
| Tangible fixed assets22/27 | - | - | - | - | €2.0m | - |
| Land and buildings22 | - | - | - | - | €2.0m | - |
| Plant, machinery and equipment23 | - | - | - | - | €11,583 | - |
| Financial fixed assets28 | €3.8m | €3.8m | €3.8m | €3.8m | €0 | ▼ 100% |
| Current assets29/58 | €578,667 | €500,000 | €500,000 | €500,000 | €917,453 | ▲ 83.5% |
| Amounts receivable within one year40/41 | - | - | - | - | €136,550 | - |
| Trade receivables40 | - | - | - | - | €136,550 | - |
| Current investments50/53 | €500,000 | €500,000 | €500,000 | €500,000 | €500,000 | = |
| Cash at bank and in hand54/58 | €78,667 | - | - | - | €275,239 | - |
| Deferred charges and accrued income490/1 | - | - | - | - | €5,663 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.4m | €4.3m | €4.3m | €4.3m | €3.0m | ▼ 31.0% |
| Equity10/15 | €2.2m | €2.1m | €2.0m | €2.0m | €2.1m | ▲ 6.0% |
| Contributions10/11 | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | = |
| Capital10 | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | = |
| Issued capital100 | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | = |
| Reserves13 | €1.4m | €1.4m | €1.4m | €1.4m | €1.4m | = |
| Non-distributable reserves130/1 | €584,807 | €584,807 | €584,807 | €584,807 | €584,807 | = |
| Legal reserve130 | €84,807 | €84,807 | €84,807 | €84,807 | €84,807 | = |
| Own shares acquired1312 | €500,000 | €500,000 | €500,000 | €500,000 | €500,000 | = |
| Tax-exempt reserves132 | €18,750 | €18,750 | €18,750 | - | - | - |
| Distributable reserves133 | €820,778 | €820,778 | €820,778 | €794,039 | €794,039 | = |
| Profit (loss) carried forward14 | -€277,769 | -€402,578 | -€449,974 | -€449,974 | -€330,447 | ▲ 26.6% |
| Amounts payable17/49 | €2.1m | €2.2m | €2.2m | €2.3m | €854,891 | ▼ 63.0% |
| Amounts payable after more than one year17 | - | - | - | - | €738,522 | - |
| Financial debts170/4 | - | - | - | - | €738,522 | - |
| Amounts payable within one year42/48 | €2.1m | €2.2m | €2.2m | €2.3m | €116,369 | ▼ 95.0% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €89,715 | - |
| Trade debts44 | - | - | - | - | €896 | - |
| Suppliers440/4 | - | - | - | - | €896 | - |
| Taxes, remuneration and social security45 | - | - | - | - | €25,758 | - |
| Taxes450/3 | - | - | - | - | €25,758 | - |
| Other amounts payable47/48 | €2.1m | €2.2m | €2.2m | €2.3m | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€46,335 | -€124,809 | -€47,396 | €185,178 | €119,527 | ▼ 35.5% |
| + Depreciation and write-downs630 | - | - | - | - | €24,039 | - |
| Operating cash flow (approximation) | -€46,335 | -€124,809 | -€47,396 | €185,178 | €143,566 | ▼ 22.5% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€29,204 | €1.7m | ▲ 6,027% |
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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 28 days late
2025
31-12
Financial
Liquidity times 36current ratio 7.88
Current ratio from 0.22 to 7.88; short-term debt falls from €2.3m to €116,369.
31-12
Financial
Equity above €2mEq €2.1m ▲6%
2 profitable years in a row build equity to €2.1m.
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €185,178
Net result €185,178 after 5 loss-making years.
21-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 21 days late
2023
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
08-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
28-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
03-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Weakest financial yearnet -€144,453
Net result drops to -€144,453, the lowest in the series; recovery starts the following year.
23-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 29 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 14 acts read
About the unread acts
We know of 14 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
14 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, Asse · 2 establishment units since 1998
Ground area
4.1 ha
Building footprint
9,739 m²
Volume, LiDAR
77,935 m³
2 parcels, Flanders · tallest building 15.5 m, ±3 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
2 establishment units
AGHORA
since 19982.085.676.578
AGHORA
since 20252.380.733.851
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23053B0191/00B002 | Flanders | 3.4 ha | 1 · 8,227 m² | 15.5 m · 3 fl. |
| 23053B0194/00B000 | Flanders | 6,614 m² | 1 · 1,512 m² | 8.0 m · 2 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Structure & network
Owners and holdings
1 ownerChain of control
- S. SABLON
- AGHORA
Highest known parent: S. SABLON. The sources do not say who stands above it.
Owners 1
- S. SABLONparentSourceaccounts S. SABLON 2025100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 12,042 companies in sector 68203 we hold annual accounts for 5,995. 3,578 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
Founded06-01-1998
Fiscal year end31-12
Activities, NACEBEL 2025
68203Renting and operating of own or leased non-residential real estate, excluding land
68110Buying and selling of own real estate
E-invoicing
Reachable via Peppol
Peppol ID
0208:0462333672
Also
9925:BE0462333672
Registered
03-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.