Summary
AGL is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €48.1m and a net result of €71.7m. Equity is growing by ~6.9% per year across the filed fiscal years. Its solvency ranks better than 41% of 2413 sector peers (fiscal year 2025). The company has been active since 2005 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 14-08-2025, 78 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
78 d early
2024
43 d late
2023
109 d early
2022
104 d early
2021
116 d early
2020
44 d early
2019
51 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 66 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close27-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, full schema
Equity
€48.1m▲ 3.6%
2024 · €46.4m
Net result
€71.7m▲ 3,021%
2024 · €2.3m
Total assets
€95.9m▲ 106%
2024 · €46.6m
Solvency
50.2%▼ 49.4pp
2024 · 99.6%
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€63,761▲ 83.3%-€85,066▼ 33.4%-€323,399▼ 280%-€341,123▼ 5.5%-€103,899▲ 69.5%
Net result€33.0m▲ 66.2%€2.7m▼ 91.7%€45.3m▲ 1,555%€2.3m▼ 94.9%€71.7m▲ 3,021%
Equity€36.1m▲ 4.8%€38.9m▲ 7.6%€44.2m▲ 13.6%€46.4m▲ 5.2%€48.1m▲ 3.6%
Total assets€72.9m▲ 28.5%€38.9m▼ 46.6%€44.3m▲ 13.8%€46.6m▲ 5.3%€95.9m▲ 106%
Debt€36.8m▲ 68.2%€27,888▼ 99.9%€124,549▲ 347%€180,944▲ 45.3%€47.7m▲ 26,281%
Working capital€3.7m▲ 49.8%€6.5m▲ 73.6%€7.5m▲ 16.6%€9.4m▲ 24.4%€11.0m▲ 18.0%
Solvency49.6%▼ 11.2pp99.9%▲ 50.3pp99.7%▼ 0.2pp99.6%▼ 0.1pp50.2%▼ 49.4pp
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €103,899 in 2025 against €341,123 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €95.9m
Fixed assets
€37.1m =
Current assets
€58.8m ▲ 516%
Equity and liabilities €95.9m
Equity
€48.1m ▲ 3.6%
Debt
€47.7m ▲ 26,281%
Debt's share of the balance-sheet total rises from 0.4% to 49.8%. Equity and debt are higher.
Key figures and ratios
ROE
148.9%▲
2024 · 4.9%
ROA
74.8%▲
2024 · 4.9%
Debt ≤ 1 year
€47.7m▲
2024 · €180,944
Income taxes
€110,392▲
2024 · €13,369
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | - | €415 | - |
| Other operating income74 | - | - | - | - | €415 | - |
| Operating charges60/66A | - | €85,066 | €323,399 | €341,123 | €104,314 | ▼ 69.4% |
| Services and other goods61 | - | €18,257 | €18,907 | €89,148 | - | - |
| Other operating charges640/8 | - | €66,809 | €304,493 | €251,975 | €104,314 | ▼ 58.6% |
| Operating profit (loss)9901 | -€63,761 | -€85,066 | -€323,399 | -€341,123 | -€103,899 | ▲ 69.5% |
| Financial income75/76B | - | €3.0m | €45.8m | €2.7m | €72.5m | ▲ 2,629% |
| Recurring financial income75 | €33.7m | €3.0m | €45.8m | €2.7m | €72.5m | ▲ 2,629% |
| Income from financial fixed assets750 | - | €2.8m | €45.6m | €2.5m | €71.5m | ▲ 2,747% |
| Income from current assets751 | - | €215,382 | €172,229 | €143,425 | €1.0m | ▲ 608% |
| Other financial income752/9 | - | - | €39,397 | €2,317 | €25 | ▼ 98.9% |
| Financial charges65/66B | - | €144,185 | €146,334 | €5,685 | €611,068 | ▲ 10,649% |
| Recurring financial charges65 | €229,502 | €144,185 | €146,334 | €5,685 | €611,068 | ▲ 10,649% |
| Debt charges650 | €228,234 | €143,132 | €51,664 | €940 | €607,953 | ▲ 64,581% |
| Other financial charges652/9 | - | €1,052 | €94,670 | €4,745 | €3,116 | ▼ 34.3% |
| Profit (loss) for the period before taxes9903 | €33.4m | €2.7m | €45.3m | €2.3m | €71.8m | ▲ 3,007% |
| Income taxes67/77 | €353,558 | €14,288 | €35,746 | €13,369 | €110,392 | ▲ 726% |
| Taxes670/3 | - | €14,288 | €35,746 | €13,369 | €110,392 | ▲ 726% |
| Profit (loss) for the period9904 | €33.0m | €2.7m | €45.3m | €2.3m | €71.7m | ▲ 3,021% |
| Profit (loss) for the period to be appropriated9905 | €33.0m | €2.7m | €45.3m | €2.3m | €71.7m | ▲ 3,021% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €72.9m | €38.9m | €44.3m | €46.6m | €95.9m | ▲ 106% |
| Fixed assets21/28 | €32.4m | €32.4m | €36.6m | €37.1m | €37.1m | = |
| Financial fixed assets28 | €32.4m | €32.4m | €36.6m | €37.1m | €37.1m | = |
| Affiliated companies280/1 | - | €32.4m | €36.6m | €37.1m | €37.1m | = |
| Participating interests280 | - | €32.4m | €36.6m | €37.1m | €37.1m | = |
| Current assets29/58 | €40.5m | €6.5m | €7.7m | €9.5m | €58.8m | ▲ 516% |
| Amounts receivable after more than one year29 | - | - | €323,750 | €323,750 | €323,750 | = |
| Other amounts receivable291 | - | - | €323,750 | €323,750 | €323,750 | = |
| Amounts receivable within one year40/41 | €40.5m | €6.4m | €6.7m | €9.2m | €58.5m | ▲ 534% |
| Trade receivables40 | - | €39,923 | €168,859 | €307,894 | €1.3m | ▲ 329% |
| Other amounts receivable41 | - | €6.4m | €6.6m | €8.9m | €57.1m | ▲ 542% |
| Cash at bank and in hand54/58 | €16,510 | €31,713 | €594,496 | €6,786 | €3,209 | ▼ 52.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €72.9m | €38.9m | €44.3m | €46.6m | €95.9m | ▲ 106% |
| Equity10/15 | €36.1m | €38.9m | €44.2m | €46.4m | €48.1m | ▲ 3.6% |
| Contributions10/11 | €32.8m | €32.8m | €32.8m | €32.8m | €32.8m | = |
| Capital10 | - | €32.8m | €32.8m | €32.8m | €32.8m | = |
| Issued capital100 | - | €32.8m | €32.8m | €32.8m | €32.8m | = |
| Reserves13 | €3.2m | €3.3m | €3.3m | €3.3m | €3.3m | = |
| Non-distributable reserves130/1 | - | €3.3m | €3.3m | €3.3m | €3.3m | = |
| Legal reserve130 | - | €3.3m | €3.3m | €3.3m | €3.3m | = |
| Profit (loss) carried forward14 | €174,690 | €2.8m | €8.1m | €10.4m | €12.1m | ▲ 16.2% |
| Amounts payable17/49 | €36.8m | €27,888 | €124,549 | €180,944 | €47.7m | ▲ 26,281% |
| Amounts payable within one year42/48 | €36.8m | €27,888 | €124,549 | €180,944 | €47.7m | ▲ 26,281% |
| Trade debts44 | €190,057 | €12,614 | €69,011 | €148,012 | €739,677 | ▲ 400% |
| Suppliers440/4 | - | €12,614 | €69,011 | €148,012 | €739,677 | ▲ 400% |
| Taxes, remuneration and social security45 | - | €14,067 | €49,813 | €13,141 | €110,164 | ▲ 738% |
| Taxes450/3 | - | €14,067 | €49,813 | €13,141 | €110,164 | ▲ 738% |
| Other amounts payable47/48 | - | €1,207 | €5,725 | €19,791 | €46.9m | ▲ 236,798% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €33.0m | €2.7m | €45.3m | €2.3m | €71.7m | ▲ 3,021% |
| Operating cash flow (approximation) | €33.0m | €2.7m | €45.3m | €2.3m | €71.7m | ▲ 3,021% |
| Investment in fixed assets (approximation) | - | €0 | -€4.2m | -€460,405 | -€124 | ▲ 100.0% |
| Change in cash | - | €15,202 | €562,783 | -€587,709 | -€3,578 | ▲ 99.4% |
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
2025
14-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
31-03
Financial
Highest result since 2019net €71.7m ▲3,021%
Net result €71.7m, the highest in the series.
2024
13-12
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 43 days late
31-03
Financial
Weakest financial yearnet €2.3m ▼94.9%
Net result drops to €2.3m, the lowest in the series; recovery starts the following year.
2023
14-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2022
19-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
31-03
Financial
Liquidity times 211current ratio 232.42
Current ratio from 1.10 to 232.42; short-term debt falls from €36.8m to €27,888.
2021
07-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2020
17-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2019
10-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2018
11-09
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
19-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
15-09
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 25 acts read
About the unread acts
We know of 25 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
25 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, Antwerpen · 1 establishment unit since 2005
Ground area
1.9 ha
Building footprint
1.3 ha
Volume, LiDAR
158,017 m³
Parcel 11815D0272/00H002, Flanders · tallest building 21.9 m, ±4 floors. Linked by address, not a title deed.
10
companies at this address
See who is registered here
1 establishment unit
RMK
since 20052.149.144.470
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11815D0272/00H002 | Flanders | 1.9 ha | 1 · 1.3 ha | 21.9 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.
Structure & network
Part of the group
ALLCARGO LOGISTICS LIMITED
10 companies
Group, risk and exposure
Owners and holdings
2 owners · 12 holdings · 76 subsidiaries in the treeChain of control
- ALLCARGO LOGISTICS LIMITEDIN
- Ecu Global
- AGL
Highest known parent: ALLCARGO LOGISTICS LIMITED (India). The sources do not say who stands above it.
Owners 2
-
99.99%
-
0.01%
Holdings 12
- Asiapac Equity Investments Hong KongHKsubsidiarySourceown accounts 31-03-2025Equity -€315,718Result -€12,987100%
-
100%
- Almacen Y Maniobras LCL SA de CV (volgens het consolidatiepackage)MXsubsidiarySourceown accounts 31-03-2025Equity €748,870Result €895,75099.99%
- Asiapac Logistics Mexico SA de CV (volgens het consolidatiepackage)MXsubsidiarySourceown accounts 31-03-2025Equity -€674,575Result €629,83299.99%
- ECUHOLDsubsidiaryEquity €85.5mResult €21.3m99.99%
- FMA-Line Nigeria Ltd (volgens het consolidatiepackage)NGsubsidiarySourceown accounts 31-03-2025Equity €241,887Result €232,46699.99%
- Oconca Container Line S.A. Ltd. (volgens het consolidatiepackage)HKsubsidiarySourceown accounts 31-03-2025Equity €12,399Result €099.99%
- Oconca Shipping (HK) Ltd. (volgens het consolidatiepackage)HKsubsidiarySourceown accounts 31-03-2025Equity €697,207Result €259,45899.99%
- Ecu Worldwide Baltics (volgens het consolidatiepackage)LVSourceown accounts 31-03-2025Equity -€178,551Result €18,08250%
- Asiapac Logistics El Salvador (volgens het consolidatiepackage)SVSourceown accounts 31-03-2025Equity €3,208Result -€94,3180.05%
Show 2 more holdings
-
0.03%
-
0.01%
All subsidiaries, including indirect ones 76
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
- Asiapac Equity Investments Hong KongHK 100%
- FMA Line SA (PTY) LTDZA 100%
- Almacen Y Maniobras LCL SA de CV (volgens het consolidatiepackage)MX 99.99%
- Asiapac Logistics Mexico SA de CV (volgens het consolidatiepackage)MX 99.99%
ECUHOLD 99.99%68 subsidiaries
- ADMINISTRADORA HOUSE LINE C.A. (volgens het consolidatiepackage)VE 100%
- Allcargo Logistics FZE (volgens het consolidatiepackage)AE 100%
- Asia Line Ltd. (volgens het consolidatiepackage)AE 100%
- ECU INTERNATIONAL 100%
- ECU INTERNATIONAL FAR EAST Ltd. (volgens het consolidatiepackage)HK 100%
- ECU WORLDWIDE (COLOMBIA) S.A.S. (volgens het consolidatiepackage)CO 100%
- ECU WORLDWIDE (GERMANY) Gmbh (volgens het consolidatiepackage)DE 100%
- ECU WORLDWIDE (JAPAN) Ltd. (volgens het consolidatiepackage)JP 100%
- ECU WORLDWIDE (MALAYSIA) SND. Bhd. (volgens het consolidatiepackage)MY 100%
- ECU WORLDWIDE (MAURITIUS) Ltd. (volgens het consolidatiepackage)MU 100%
- ECU WORLDWIDE (PANAMA) SA (volgens het consolidatiepackage)PA 100%
- ECU WORLDWIDE (URUGUAY) S.A. (volgens het consolidatiepackage)UY 100%
- ECU-LINE PERU S.A. (volgens het consolidatiepackage)PE 100%
- ECU-LINE SPAIN S.L. (volgens het consolidatiepackage)ES 100%
- ECU-WORLDWIDE (CZ) S.R.O. (volgens het consolidatiepackage)CZ 100%
- ECU-WORLDWIDE (KENYA) Ltd. (volgens het consolidatiepackage)KE 100%
- ECU-WORLDWIDE (NETHERLANDS) BV (volgens het consolidatiepackage)NL 100%
- ECU-WORLDWIDE (POLAND) SP Z.O.O. (volgens het consolidatiepackage)PL 100%
- ECU-WORLDWIDE (SINGAPORE) Pte. Ltd. (volgens het consolidatiepackage)SG 100%
- ECU-WORLDWIDE (UK) Ltd. (volgens het consolidatiepackage)GB 100%
- ECU-WORLDWIDE CANADA Inc. (volgens het consolidatiepackage)CA 100%
- ECU-WORLDWIDE COTE D'IVOIRE Sarl (volgens het consolidatiepackage)CI 100%
- ECU-WORLDWIDE ITALIA srl. (volgens het consolidatiepackage )IT 100%
- ECU-WORLDWIDE NEW ZEALAND Ltd. (volgens het consolidatiepackage)NZ 100%
- ECU-WORLDWIDE SOUTH AFRICA (Pty.) Ltd. (volgens het consolidatiepackage)ZA 100%
- Eculine Worldwide Logistics Co. LTD Cambodia (volgens het consolidatiepackage)KH 100%
- ECULINE WORLDWIDE LOGISTICS CO. LTD. (volgens het consolidatiepackage)PY 100%
- ELWA GHANA Ltd. (volgens het consolidatiepackage)GH 100%
- FCL MARINE AGENCIES BELGIUM 100%
- FCL Marine Agencies BV (volgens het consolidatiepackage)NL 100%
- FLAMINGO LINE DEL PERU SA (volgens het consolidatiepackage)PE 100%
- GULDARY S.A. (volgens het consolidatiepackage)UY 100%
- INTEGRITY ENTERPISES PTY LTD. (volgens het consolidatiepackage)AU 100%
- Prism Global LLC (volgens het consolidatiepackage)US 100%
- Prism Global Ltd (volgens het consolidatiepackage)HK 100%
- STAR EXPRESS COMPANY LTD. (volgens het consolidatiepackage)AE 100%
- CELM LOGISTICS SA de CV (volgens het consolidatipackage)MX 99.99%
- Ecu Worldwide Servicios SA de CV (volgens het consolidatiepackage)MX 99.99%
- ECU-WORLDWIDE (HONG KONG) Ltd. (volgens het consolidatiepackage)HK 99.99%
- ECU-WORLDWIDE VIETNAM JOINT VENTURE COMPANY Ltd. (volgens het consolidatiepackage)VN 99.99%
- HCL LOGISTICS 99.99%
ECU WORLDWIDE (BELGIUM) 99.97%3 subsidiaries
Antwerp Freight Station 99.99%2 subsidiaries
- Rotterdam Freight Station (volgens het consolidatiepackage)NL 100%
- Ecu Worldwide Mexico, SA de CV (volgens het consolidatiepackage)MX 99.99%
- ECU WORLDWIDE (ECUADOR) S.A. (volgens het consolidatiepackage)EC 99.96%
- ECU-LINE ALGERIE Sarl (volgens het consolidatiepackage)DZ 99.9%
- Ecu Worldwide Logistics Do Brasil Ltda (volgens het consolidatiepackage)BR 99.8%
- ECU-WORLDWIDE (PHILIPINNES) Inc. (volgens het consolidatiepackage)PH 99.4%
- FMA-LINE HOLDING 99.05%
- ECU WORLDWIDE (UGANDA) Ltd. (volgens het consolidatiepackage)UG 99%
- ECU WORLDWIDE TURKEY TASIMACILIK Ltd. Sti. (volgens het consolidatiepackage)TR 99%
- ECU-LINE ABU DHABI LLC (volgens het consolidatiepackage)AE 99%
- FLAMINGO LINE DEL ECUADOR SA (volgens het consolidatiepackage)EC 99%
- ECU WORLDWIDE MOROCCO S.A. (volgens het consolidatiepackage)MA 98.88%
- Ecu Worldwide CEE S.R.L. (volgens het consolidatiepackage)RO 95%
- ECU WORLDWIDE (ARGENTINA) SA (volgens het consolidatiepackage)AR 90%
- ECU-LINE MIDDLE EAST LLC (volgens het consolidatiepackage)AE 86%
- EUROCENTRE FZCO (volgens het consolidatiepackage)AE 84.62%
- ECU WORLDWIDE (CHILE) S.A. (volgens het consolidatiepackage)CL 80%
- Ecu-Line Saudi-Arabia LLC (volgens het consolidatiepackage)SA 70%
- Ecu-Line Zimbabwe (Pvt) Ltd. (volgens het consolidatiepackage)ZW 70%
- PT Ecu Worldwide Indonesia (volgens het consolidatiepackage)ID 67%
- ECU WORLDWIDE (GUATEMALA) S.A. (volgens het consolidatiepackage)GT 66.67%
- ECU WORLDWIDE (EL SALVADOR)S.P.Z.o.o. SA DE CV (volgens het consolidatiepackage)SV 66%
- ECU-WORLDWIDE AUSTRALIA Pty. Ltd. (volgens het consolidatiepackage)AU 60%
- ECU WORLDWIDE EGYPT Ltd. (volgens het consolidatiepackage)EG 55%
- ECU-WORLDWIDE (CYPRUS) Ltd. (volgens het consolidatiepackageCY 55%
- FMA-Line Nigeria Ltd (volgens het consolidatiepackage)NG 99.99%
- Oconca Container Line S.A. Ltd. (volgens het consolidatiepackage)HK 99.99%
- Oconca Shipping (HK) Ltd. (volgens het consolidatiepackage)HK 99.99%
According to the annual accounts to 31-03-2025 of AGL and those 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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Identification & contact
Identification
Legal formPublic limited company
Founded15-06-2005
Fiscal year end31-03
Activities, NACEBEL 2025
64210Activities of holding companies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0874486375
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.