AH DEVELOPMENT
ActiveSummary
AH DEVELOPMENT has been active since 2005 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €84,717 and a net result of -€5,946. Equity is shrinking by about 5.3% per year across the filed financial years. Its solvency ranks better than 71% of 11,723 sector peers (NACE 71, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Financials · financial year 2025, micro format
Equity
€84,717
2024 · -€103,137
Total assets
€115,297▲ 17.0%
2024 · €98,586
Net result
-€5,946▲ 94.8%
2024 · -€113,488
Working capital
€25,428▼ 3.0%
2024 · €26,208
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €5,452 in 2025 against €3,868 in 2024; the loss grows and 2025 has the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€5,452
2025
Net result-€5,946
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€115,297
2025
Equity€84,717
2025
Debt€30,580
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€25,428
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)-5.2%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency73.5%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio44.83
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 71, Architectural and engineering activities; technical testing and analysis: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€3,016-€4,826▲ 60.0%-€2,396€12,872€17,443▲ 35.5%€21,561▲ 23.6%-€3,868-€5,452▼ 40.9%
Net result€2,874-€1,914▼ 33.4%-€9,722below the sector's middle half€2,765within the sector's middle half€2,823within the sector's middle half▲ 2.1%-€2,343below the sector's middle half-€113,488below the sector's middle half▼ 4,743%-€5,946below the sector's middle half▲ 94.8%
Equity€14,914-€16,828▲ 12.8%€7,106below the sector's middle half▼ 57.8%€9,871below the sector's middle half▲ 38.9%€12,694below the sector's middle half▲ 28.6%€10,350below the sector's middle half▼ 18.5%-€103,137below the sector's middle half€84,717within the sector's middle half
Total assets€62,107-€313,855▲ 405%€388,409above the sector's middle half▲ 23.8%€481,472above the sector's middle half▲ 24.0%€638,167above the sector's middle half▲ 32.5%€663,012above the sector's middle half▲ 3.9%€98,586within the sector's middle half▼ 85.1%€115,297within the sector's middle half▲ 17.0%
Debt€47,193-€297,026▲ 529%€381,303▲ 28.4%€471,602▲ 23.7%€625,474▲ 32.6%€652,662▲ 4.3%€201,723▼ 69.1%€30,580▼ 84.8%
Working capital€14,716--€228,694-€332,878below the sector's middle half▼ 45.6%-€407,759below the sector's middle half▼ 22.5%€65,140within the sector's middle half€89,657within the sector's middle half▲ 37.6%€26,208within the sector's middle half▼ 70.8%€25,428within the sector's middle half▼ 3.0%
Solvency24.0%-5.4%▼ 18.7pp1.8%below the sector's middle half▼ 3.5pp2.1%below the sector's middle half▲ 0.2pp2.0%below the sector's middle half▼ 0.1pp1.6%below the sector's middle half▼ 0.4pp-104.6%below the sector's middle half▼ 106.2pp73.5%within the sector's middle half▲ 178.1pp
Current ratio1.31-0.22▼ 1.090.13below the sector's middle half▼ 0.090.14below the sector's middle half▲ 0.0122.26above the sector's middle half▲ 22.1227.42above the sector's middle half▲ 5.1743.94above the sector's middle half▲ 16.5244.83above the sector's middle half▲ 0.89
Return on assets (ROA)4.6%-0.6%▼ 4.0pp-2.5%below the sector's middle half▼ 3.1pp0.6%below the sector's middle half▲ 3.1pp0.4%below the sector's middle half▼ 0.1pp-0.4%below the sector's middle half▼ 0.8pp-115.1%below the sector's middle half▼ 114.8pp-5.2%below the sector's middle half▲ 110.0pp
above
within
below
the middle half of NACE 71, Architectural and engineering activities; technical testing and analysis: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin not published: the micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €115,297
Fixed assets
€89,289 ▲ 24.4%
Current assets
€26,008 ▼ 3.0%
Equity and liabilities €115,297
Equity
€84,717
Debt
€30,580
Debt finances 26.5% of the balance-sheet total.
Key figures and ratios
Debt to equity
0.36
ROE
-7.0%
Debt ≤ 1 year
€580▼
2024 · €610
Debt > 1 year
€30,000▼
2024 · €201,113
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,226 | €198 | €0 | - | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €449 | €450 | €493 | €647 | €801 | ▲ 23.7% |
| Gross operating margin9900 | €4,485 | €5,470 | -€1,948 | €13,320 | €17,893 | €22,055 | -€3,221 | -€4,651 | ▼ 44.4% |
| Operating profit (loss)9901 | €3,016 | €4,826 | -€2,396 | €12,872 | €17,443 | €21,561 | -€3,868 | -€5,452 | ▼ 40.9% |
| Financial income75/76B | - | - | - | €2,501 | €2,651 | €3,142 | €1 | €0 | ▼ 100% |
| Recurring financial income75 | €2,100 | €2,226 | €2,360 | €2,501 | €2,651 | €3,142 | €1 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €12,608 | €17,272 | €27,047 | €109,620 | €494 | ▼ 99.5% |
| Recurring financial charges65 | €1,044 | €4,511 | €9,677 | €12,608 | €17,272 | €27,047 | €109,620 | €494 | ▼ 99.5% |
| Profit (loss) for the period before taxes9903 | €4,072 | €2,542 | -€9,713 | €2,765 | €2,823 | -€2,343 | -€113,488 | -€5,946 | ▲ 94.8% |
| Income taxes67/77 | €1,198 | €627 | €9 | €0 | - | - | - | - | - |
| Profit (loss) for the period9904 | €2,874 | €1,914 | -€9,722 | €2,765 | €2,823 | -€2,343 | -€113,488 | -€5,946 | ▲ 94.8% |
| Profit (loss) for the period to be appropriated9905 | €2,874 | €1,914 | -€9,722 | €2,765 | €2,823 | -€2,343 | -€113,488 | -€5,946 | ▲ 94.8% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €62,107 | €313,855 | €388,409 | €481,472 | €638,167 | €663,012 | €98,586 | €115,297 | ▲ 17.0% |
| Formation expenses20 | €0 | - | - | - | - | - | - | - | - |
| Fixed assets21/28 | €198 | €250,000 | €340,000 | €417,630 | €569,963 | €569,963 | €71,767 | €89,289 | ▲ 24.4% |
| Intangible fixed assets21 | €198 | €0 | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €0 | - | - | - | - | - | - | - | - |
| Financial fixed assets28 | €0 | €250,000 | €340,000 | €417,630 | €569,963 | €569,963 | €71,767 | €89,289 | ▲ 24.4% |
| Current assets29/58 | €61,909 | €63,855 | €48,409 | €63,843 | €68,205 | €93,050 | €26,819 | €26,008 | ▼ 3.0% |
| Amounts receivable after more than one year29 | - | - | - | €44,187 | €46,838 | €49,648 | €0 | - | - |
| Other amounts receivable291 | - | - | - | €44,187 | €46,838 | €49,648 | €0 | - | - |
| Stocks and contracts in progress3 | €0 | - | - | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €18,880 | €5,503 | €77 | €15,418 | €20,851 | €26,979 | €25,911 | €0 | ▼ 100% |
| Trade receivables40 | - | - | - | €15,000 | €20,076 | €26,661 | €25,000 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | €418 | €775 | €318 | €911 | €0 | ▼ 100% |
| Current investments50/53 | €0 | - | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €5,929 | €19,026 | €6,646 | €4,238 | €516 | €16,423 | €908 | €26,008 | ▲ 29× |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €62,107 | €313,855 | €388,409 | €481,472 | €638,167 | €663,012 | €98,586 | €115,297 | ▲ 17.0% |
| Equity10/15 | €14,914 | €16,828 | €7,106 | €9,871 | €12,694 | €10,350 | -€103,137 | €84,717 | - |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €200,000 | ▲ 32× |
| Reserves13 | €789 | €789 | €789 | €789 | €789 | €789 | €789 | €789 | = |
| Non-distributable reserves130/1 | - | - | - | €789 | €789 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €789 | €789 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | - | - | €789 | €789 | €789 | = |
| Profit (loss) carried forward14 | €7,925 | €9,839 | €117 | €2,881 | €5,704 | €3,361 | -€110,127 | -€116,073 | ▼ 5.4% |
| Provisions and deferred taxes16 | €0 | - | - | - | - | - | - | - | - |
| Amounts payable17/49 | €47,193 | €297,026 | €381,303 | €471,602 | €625,474 | €652,662 | €201,723 | €30,580 | ▼ 84.8% |
| Amounts payable after more than one year17 | €0 | - | - | - | €622,333 | €649,193 | €201,113 | €30,000 | ▼ 85.1% |
| Other amounts payable178/9 | - | - | - | - | €622,333 | €649,193 | €201,113 | €30,000 | ▼ 85.1% |
| Amounts payable within one year42/48 | €47,193 | €292,549 | €381,287 | €471,602 | €3,064 | €3,393 | €610 | €580 | ▼ 4.9% |
| Trade debts44 | €16,378 | €21,756 | €445 | €429 | €527 | €3,230 | €610 | €580 | ▼ 4.9% |
| Suppliers440/4 | - | - | - | €429 | €527 | €3,230 | €610 | €580 | ▼ 4.9% |
| Taxes, remuneration and social security45 | - | - | - | €0 | - | - | - | - | - |
| Taxes450/3 | - | - | - | €0 | - | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €471,173 | €2,538 | €163 | €0 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €0 | €76 | €76 | €0 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,874 | €1,914 | -€9,722 | €2,765 | €2,823 | -€2,343 | -€113,488 | -€5,946 | ▲ 94.8% |
| + Depreciation and write-downs630 | €1,226 | €198 | €0 | - | - | - | - | - | - |
| Operating cash flow (approximation) | €4,099 | €2,112 | -€9,722 | €2,765 | €2,823 | -€2,343 | -€113,488 | -€5,946 | ▲ 94.8% |
| Investment in fixed assets (approximation) | - | -€250,000 | -€90,000 | -€77,630 | -€152,333 | €0 | €498,195 | -€17,521 | - |
| Change in cash | - | €13,097 | -€12,380 | -€2,409 | -€3,721 | €15,907 | -€15,515 | €25,100 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 20 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 09-06-2026 | 2026-00151067 |
| 31-12-2024 | micro format | 14-07-2025 | 2025-00276078 |
| 31-12-2023 | micro format | 02-07-2024 | 2024-00201636 |
| 31-12-2022 | micro format | 30-06-2023 | 2023-00186630 |
| 31-12-2021 | micro format | 20-07-2022 | 2022-20204094 |
| 31-12-2020 | micro format | 24-06-2021 | 2021-23900253 |
| 31-12-2019 | micro format | 25-08-2020 | 2020-43800288 |
| 31-12-2018 | micro format | 23-07-2019 | 2019-35800473 |
| 31-12-2017 | abbreviated format | 21-08-2018 | 2018-46900528 |
| 31-12-2016 | abbreviated format | 25-07-2017 | 2017-34700139 |
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Of the 18,231 active companies whose main activity is activities of building architects (NACE 71111), figures are known for 6,447. 5,560 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.