AHP
ActiveSummary
AHP has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €344,318 and a net result of €65,688. Equity is growing by ~4% per year across the filed fiscal years. Its solvency ranks better than 25% of 407 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability61▲+15
Solvency47▲+3
Growth78=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €19,000 at 30 days acceptable
Liquidity short (current ratio 0.92 against 0.94 in 2024; short-term debt: 73.7% and cash: 3.9% of total assets), and 78.1% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
21.9%
Return on assets
4.2%
Age of the figures
12 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 25% of 407 sector peers (2025).
NBB · sector comparisonPosition among 407 sector peers
Solvency
better than 25%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 29-12-2025, 122 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
122 d early
2024
on the day
2023
40 d early
2022
2 d late
2021
2 d late
2020
on the day
2019
3 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 23 days before the deadline; the sector median for financial year 2024 is 11 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€344,318▲ 8.8%
2024 · €316,413
Total assets
€1.6m▼ 6.9%
2024 · €1.7m
Net result
€65,688▲ 83.4%
2024 · €35,817
Working capital
-€88,250▼ 17.5%
2024 · -€75,116
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 28, Manufacture of machinery and equipment not elsewhere classified, 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€59,659▲ 23.0%€48,646▼ 18.5%€73,782▲ 51.7%€121,320▲ 64.4%€144,370▲ 19.0%
Net result€17,575within the sector's middle half▼ 13.3%€12,222within the sector's middle half▼ 30.5%€17,473within the sector's middle half▲ 43.0%€35,817within the sector's middle half▲ 105%€65,688within the sector's middle half▲ 83.4%
Equity€313,177within the sector's middle half▲ 5.9%€299,637within the sector's middle half▼ 4.3%€317,111within the sector's middle half▲ 5.8%€316,413within the sector's middle half▼ 0.2%€344,318within the sector's middle half▲ 8.8%
Total assets€1.4mwithin the sector's middle half▼ 1.6%€1.5mwithin the sector's middle half▲ 12.7%€1.7mwithin the sector's middle half▲ 11.7%€1.7mwithin the sector's middle half▼ 2.0%€1.6mwithin the sector's middle half▼ 6.9%
Debt€1.1m▼ 3.6%€1.2m▲ 17.7%€1.4m▲ 13.1%€1.4m▼ 2.4%€1.2m▼ 10.6%
Working capital-€28,197-€103,802▼ 268%-€71,028▲ 31.6%-€75,116▼ 5.8%-€88,250▼ 17.5%
Solvency22.9%within the sector's middle half▲ 1.6pp19.4%below the sector's middle half▼ 3.5pp18.4%below the sector's middle half▼ 1.0pp18.8%below the sector's middle half▲ 0.3pp21.9%below the sector's middle half▲ 3.2pp
Staff (FTE)6.4within the sector's middle half▲ 16.4%6.7within the sector's middle half▲ 4.7%7.2within the sector's middle half▲ 7.5%6.9within the sector's middle half▼ 4.2%6.2within the sector's middle half▼ 10.1%
above
within
below
the middle half (P25 to P75) of NACE 28, Manufacture of machinery and equipment not elsewhere classified, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 19% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.6m
Fixed assets
€500,238 ▲ 2.2%
Current assets
€1.1m ▼ 10.7%
Equity and liabilities €1.6m
Equity
€344,318 ▲ 8.8%
Debt
€1.2m ▼ 10.6%
Debt's share of the balance-sheet total falls from 81.2% to 78.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€226,781▲
2024 · €206,953
Cash flow
€148,098▲
2024 · €121,450
Current ratio
0.92▼
2024 · 0.94
Quick ratio
0.35▼
2024 · 0.50
Debt to equity
3.56▼
2024 · 4.33
ROE
19.1%▲
2024 · 11.3%
ROA
4.2%▲
2024 · 2.1%
Interest coverage
4.41▲
2024 · 3.00
Debt ≤ 1 year
€1.2m▼
2024 · €1.3m
Debt > 1 year
€67,670▼
2024 · €98,058
Income taxes
€28,489▲
2024 · €18,100
Staff costs
€520,367▲
2024 · €513,123
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,972 companies that looked in July 2024 the way this one looks now, 1.2% went bankrupt within 24 months and 96% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.2%
went bankrupt
2.2%
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 0.3% 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 3,972 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €395,345 | €446,206 | €475,266 | €513,123 | €520,367 | ▲ 1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €54,162 | €68,542 | €76,077 | €85,633 | €82,411 | ▼ 3.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | €1,256 | - | €1,836 | - |
| Other operating charges640/8 | €5,370 | €5,171 | €6,453 | €6,470 | €12,470 | ▲ 92.7% |
| Non-recurring operating charges66A | - | - | - | - | €1,237 | - |
| Gross operating margin9900 | €514,536 | €568,565 | €632,833 | €726,546 | €762,690 | ▲ 5.0% |
| Operating profit (loss)9901 | €59,659 | €48,646 | €73,782 | €121,320 | €144,370 | ▲ 19.0% |
| Financial income75/76B | €2,640 | €2,366 | €1,775 | €1,484 | €1,176 | ▼ 20.7% |
| Recurring financial income75 | €2,640 | €2,366 | €1,775 | €1,484 | €1,176 | ▼ 20.7% |
| Financial charges65/66B | €35,918 | €31,468 | €45,391 | €68,887 | €51,371 | ▼ 25.4% |
| Recurring financial charges65 | €35,918 | €31,468 | €45,391 | €68,887 | €51,371 | ▼ 25.4% |
| Profit (loss) for the period before taxes9903 | €26,381 | €19,544 | €30,166 | €53,917 | €94,176 | ▲ 74.7% |
| Income taxes67/77 | €8,807 | €7,322 | €12,693 | €18,100 | €28,489 | ▲ 57.4% |
| Profit (loss) for the period9904 | €17,575 | €12,222 | €17,473 | €35,817 | €65,688 | ▲ 83.4% |
| Profit (loss) for the period to be appropriated9905 | €17,575 | €12,222 | €17,473 | €35,817 | €65,688 | ▲ 83.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.4m | €1.5m | €1.7m | €1.7m | €1.6m | ▼ 6.9% |
| Fixed assets21/28 | €501,504 | €563,949 | €511,724 | €489,587 | €500,238 | ▲ 2.2% |
| Intangible fixed assets21 | €15,689 | €13,406 | €11,124 | €9,092 | €7,060 | ▼ 22.3% |
| Tangible fixed assets22/27 | €484,065 | €548,793 | €498,850 | €478,746 | €491,428 | ▲ 2.6% |
| Land and buildings22 | €272,875 | €263,697 | €254,519 | €245,437 | €236,250 | ▼ 3.7% |
| Plant, machinery and equipment23 | €63,208 | €80,065 | €69,928 | €57,266 | €88,532 | ▲ 54.6% |
| Furniture and vehicles24 | €51,781 | €52,150 | €41,240 | €30,339 | €21,449 | ▼ 29.3% |
| Leasing and similar rights25 | €16,560 | €71,159 | €51,609 | €71,471 | €81,582 | ▲ 14.1% |
| Other tangible fixed assets26 | €79,641 | €81,722 | €81,554 | €74,233 | €63,615 | ▼ 14.3% |
| Financial fixed assets28 | €1,750 | €1,750 | €1,750 | €1,750 | €1,750 | = |
| Current assets29/58 | €865,891 | €976,860 | €1.2m | €1.2m | €1.1m | ▼ 10.7% |
| Stocks and contracts in progress3 | €369,284 | €449,159 | €469,628 | €564,502 | €658,247 | ▲ 16.6% |
| Stocks30/36 | €358,469 | €377,565 | €413,044 | €487,612 | €564,228 | ▲ 15.7% |
| Contracts in progress37 | €10,815 | €71,594 | €56,584 | €76,890 | €94,019 | ▲ 22.3% |
| Amounts receivable within one year40/41 | €482,227 | €503,244 | €695,160 | €479,426 | €337,464 | ▼ 29.6% |
| Trade receivables40 | €448,654 | €461,559 | €666,420 | €450,480 | €327,828 | ▼ 27.2% |
| Other amounts receivable41 | €33,573 | €41,686 | €28,740 | €28,946 | €9,636 | ▼ 66.7% |
| Cash at bank and in hand54/58 | €3,436 | €15,576 | €30,263 | €140,350 | €60,704 | ▼ 56.7% |
| Deferred charges and accrued income490/1 | €10,944 | €8,880 | €13,798 | €12,370 | €12,586 | ▲ 1.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.4m | €1.5m | €1.7m | €1.7m | €1.6m | ▼ 6.9% |
| Equity10/15 | €313,177 | €299,637 | €317,111 | €316,413 | €344,318 | ▲ 8.8% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €125,631 | €112,091 | €129,565 | €128,867 | €156,772 | ▲ 21.7% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | - | - | - |
| Tax-exempt reserves132 | €6,936 | €6,936 | €6,936 | €6,936 | €6,936 | = |
| Distributable reserves133 | €116,834 | €103,295 | €120,768 | €121,930 | €149,836 | ▲ 22.9% |
| Profit (loss) carried forward14 | €168,946 | €168,946 | €168,946 | €168,946 | €168,946 | = |
| Amounts payable17/49 | €1.1m | €1.2m | €1.4m | €1.4m | €1.2m | ▼ 10.6% |
| Amounts payable after more than one year17 | €160,130 | €160,510 | €123,585 | €98,058 | €67,670 | ▼ 31.0% |
| Financial debts170/4 | €160,130 | €160,510 | €123,585 | €98,058 | €67,670 | ▼ 31.0% |
| Amounts payable within one year42/48 | €894,088 | €1.1m | €1.3m | €1.3m | €1.2m | ▼ 9.0% |
| Current portion of amounts payable after more than one year42 | €92,968 | €77,785 | €83,458 | €92,668 | €90,496 | ▼ 2.3% |
| Financial debts43 | €349,135 | €368,681 | €558,539 | €522,548 | €349,957 | ▼ 33.0% |
| Credit institutions430/8 | €349,135 | €368,681 | €558,539 | €522,548 | €349,957 | ▼ 33.0% |
| Trade debts44 | €378,262 | €536,110 | €551,329 | €523,447 | €415,234 | ▼ 20.7% |
| Suppliers440/4 | €378,262 | €536,110 | €551,329 | €523,447 | €415,234 | ▼ 20.7% |
| Advances received on contracts in progress46 | - | - | - | - | €110,270 | - |
| Taxes, remuneration and social security45 | €73,722 | €73,612 | €86,552 | €98,370 | €155,400 | ▲ 58.0% |
| Taxes450/3 | €22,726 | €16,854 | €24,371 | €30,214 | €68,629 | ▲ 127% |
| Remuneration and social security454/9 | €50,996 | €56,757 | €62,181 | €68,157 | €86,771 | ▲ 27.3% |
| Other amounts payable47/48 | - | €24,474 | - | €34,730 | €35,893 | ▲ 3.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,575 | €12,222 | €17,473 | €35,817 | €65,688 | ▲ 83.4% |
| + Depreciation and write-downs630 | €54,162 | €68,542 | €76,077 | €85,633 | €82,411 | ▼ 3.8% |
| Operating cash flow (approximation) | €71,737 | €80,765 | €93,550 | €121,450 | €148,098 | ▲ 21.9% |
| Investment in fixed assets (approximation) | - | -€130,988 | -€23,851 | -€63,496 | -€93,061 | ▼ 46.6% |
| Change in cash | - | €12,141 | €14,687 | €110,087 | -€79,646 | ▼ 172% |
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
29-12
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
30-09
Financial
Highest result since 2018net €65,688 ▲83.4%
Operating result €144,370, net result €65,688, both a record.
30-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
21-03
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
02-05
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 2 days late
2022
30-09
Financial
Weakest financial yearnet €12,222 ▼30.5%
Net result drops to €12,222, the lowest in the series; recovery starts the following year.
02-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 2 days late
2021
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
27-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
25-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
28-03
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
17-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Ledegem · 1 establishment unit since 2001
Ground area
3,383 m²
Building footprint
1,894 m²
Volume, LiDAR
13,176 m³
2 parcels, Flanders · tallest building 8.3 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
AHP
since 20012.092.909.216
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36018B0875/00G005 | Flanders | 2,020 m² | 1 · 1,161 m² | 8.3 m · 2 fl. |
| 36018B0875/00H005 | Flanders | 1,363 m² | 1 · 733 m² | 7.0 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 6 entries · 8,689 EUR awarded · 8,857 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 3 | 6,999 EUR | 6,999 EUR |
| 2023 | 1 | 0 EUR | 168 EUR |
| 2022 | 2 | 1,690 EUR | 1,690 EUR |
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Of 568 companies in sector 28120 we hold annual accounts for 492. 391 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded23-04-1999
Fiscal year end30-09
Activities, NACEBEL 2025
28120Manufacture of machinery and equipment not elsewhere classified
E-invoicing
Reachable via Peppol
Peppol ID
0208:0465632464
Also
9925:BE0465632464
Registered
30-01-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.