AHSEN
ActiveSummary
AHSEN has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €164k and a net result of €4k. Equity is growing by ~46.8% per year across the filed fiscal years. Its solvency ranks better than 64% of 18400 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability70▼-1
Solvency75▲+6
Growth78=
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11k at 30 days acceptable
Liquidity tight (current ratio 1.09 against 1.0 in 2024; short-term debt: 33.6% and cash: 27.4% of total assets), and 49.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
50.3%
Return on assets
1.2%
Age of the figures
9 mo
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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 31-07-2026, 0 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
on the day
2024
on the day
2023
30 d late
2022
25 d early
2021
19 d early
2020
36 d early
2019
45 d early
← 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, micro schema
Equity
€164k▲ 2.5%
2024 · €160k
2019: €23klowest in 7 years
2020: €34k▲ +51.8% vs 2019
2021: €41k▲ +18.7% vs 2020
2022: €94k▲ +130% vs 2021
2023: €152k▲ +62.6% vs 2022
2024: €160k▲ +4.9% vs 2023
2025: €164k▲ +2.5% vs 2024highest in 7 years
2019 → 2025
Total assets
€325k▼ 10.2%
2024 · €362k
2019: €125klowest in 7 years
2020: €135k▲ +8.5% vs 2019
2021: €152k▲ +12.2% vs 2020
2022: €156k▲ +3.2% vs 2021
2023: €349k▲ +123% vs 2022
2024: €362k▲ +3.6% vs 2023highest in 7 years
2025: €325k▼ -10.2% vs 2024
2019 → 2025
Net result
€4k▼ 45.9%
2024 · €7k
2019: €4klowest in 7 years
2020: €12k▲ +191% vs 2019
2021: €6k▼ -45.3% vs 2020
2022: €53k▲ +725% vs 2021
2023: €59k▲ +10.9% vs 2022highest in 7 years
2024: €7k▼ -87.3% vs 2023
2025: €4k▼ -45.9% vs 2024
2019 → 2025
Working capital
€10k
2024 · €-271
2019: €-42k
2020: €-35k▲ +16.6% vs 2019
2021: €-20k▲ +42.1% vs 2020
2022: €23k▲ +215% vs 2021highest in 7 years
2023: €-51k▼ -322% vs 2022lowest in 7 years
2024: €-271▲ +99.5% vs 2023
2025: €10k▲ +3904% vs 2024
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€41k-€94k▲ 130%€152k▲ 62.6%€160k▲ 4.9%€164k▲ 2.5%
2021: €41klowest in 5 years
2022: €94k▲ +130% vs 2021
2023: €152k▲ +62.6% vs 2022
2024: €160k▲ +4.9% vs 2023
2025: €164k▲ +2.5% vs 2024highest in 5 years
Operating result€8k-€68k▲ 703%€80k▲ 18.7%€19k▼ 75.9%€16k▼ 14.7%
2021: €8klowest in 5 years
2022: €68k▲ +703% vs 2021
2023: €80k▲ +18.7% vs 2022highest in 5 years
2024: €19k▼ -75.9% vs 2023
2025: €16k▼ -14.7% vs 2024
Net result€6k-€53k▲ 725%€59k▲ 10.9%€7k▼ 87.3%€4k▼ 45.9%
2021: €6k
2022: €53k▲ +725% vs 2021
2023: €59k▲ +10.9% vs 2022highest in 5 years
2024: €7k▼ -87.3% vs 2023
2025: €4k▼ -45.9% vs 2024lowest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 15% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €325k
Fixed assets
€206k ▼ 15.9%
Current assets
€119k ▲ 1.8%
Equity and liabilities €325k
Equity
€164k ▲ 2.5%
Debt
€161k ▼ 20.2%
Debt's share of the balance-sheet total falls from 55.9% to 49.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€91k▲
2024 · €89k
Cash flow
€78k▲
2024 · €77k
Current ratio
1.09▲
2024 · 1.00
Quick ratio
0.91▲
2024 · 0.82
Debt to equity
0.99▼
2024 · 1.27
ROE
2.5%▼
2024 · 4.7%
ROA
1.2%▼
2024 · 2.1%
Interest coverage
11.82▼
2024 · 12.77
Debt ≤ 1 year
€109k▼
2024 · €118k
Debt > 1 year
€52k▼
2024 · €85k
Income taxes
€5k▼
2024 · €5k
Staff costs
€203k▲
2024 · €166k
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 · 49 lines
Balance sheet
Code20242025
Assets
Total assets20/58€362k€325k▼
Fixed assets21/28€245k€206k▼
Tangible fixed assets22/27€230k€191k▼
Plant, machinery and equipment23€69k€45k▼
Furniture and vehicles24€136k€93k▼
Other tangible fixed assets26€26k€54k▲
Financial fixed assets28€14k€14k=
Current assets29/58€117k€119k▲
Stocks and contracts in progress3€21k€20k▼
Stocks30/36€21k€20k▼
Amounts receivable within one year40/41€42k€10k▼
Trade receivables40€42k€10k▼
Other amounts receivable41€0-
Cash at bank and in hand54/58€43k€89k▲
Deferred charges and accrued income490/1€11k€0▼
Equity and liabilities
Total equity and liabilities10/49€362k€325k▼
Equity10/15€160k€164k▲
Contributions10/11€19k€19k=
Reserves13€141k€145k▲
Non-distributable reserves130/1€201€201=
Reserves not available under the articles1311€201€201=
Distributable reserves133€141k€145k▲
Amounts payable17/49€202k€161k▼
Amounts payable after more than one year17€85k€52k▼
Financial debts170/4€85k€52k▼
Amounts payable within one year42/48€118k€109k▼
Current portion of amounts payable after more than one year42€36k€32k▼
Trade debts44€39k€43k▲
Suppliers440/4€39k€43k▲
Taxes, remuneration and social security45€41k€31k▼
Taxes450/3€12k€10k▼
Remuneration and social security454/9€28k€21k▼
Other amounts payable47/48€2k€3k▲
Income statement
Code20242025
Remuneration, social security and pensions62€166k€203k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€70k€74k▲
Other operating charges640/8€10k€8k▼
Gross operating margin9900€266k€301k▲
Operating profit (loss)9901€19k€16k▼
Financial income75/76B€27€0▼
Recurring financial income75€27€0▼
Financial charges65/66B€7k€8k▲
Recurring financial charges65€7k€8k▲
Profit (loss) for the period before taxes9903€12k€9k▼
Income taxes67/77€5k€5k▼
Profit (loss) for the period9904€7k€4k▼
Profit (loss) for the period to be appropriated9905€7k€4k▼
Appropriation of the result
Profit (loss) to be appropriated9906€7k€4k▼
Transfer to equity691/2€7k€4k▼
To other reserves6921€7k€4k▼
The notes to these accounts (14 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €19k | €39k | €113k | €166k | €203k | ▲ 21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13k | €14k | €28k | €70k | €74k | ▲ 6.7% |
| Other operating charges640/8 | €3k | €436 | €12k | €10k | €8k | ▼ 27.5% |
| Gross operating margin9900 | €43k | €120k | €233k | €266k | €301k | ▲ 13.2% |
| Operating profit (loss)9901 | €8k | €68k | €80k | €19k | €16k | ▼ 14.7% |
| Financial income75/76B | €4 | €2 | €1 | €27 | €0 | ▼ 98.9% |
| Recurring financial income75 | €4 | €2 | €1 | €27 | €0 | ▼ 98.9% |
| Financial charges65/66B | €422 | €319 | €741 | €7k | €8k | ▲ 10.2% |
| Recurring financial charges65 | €422 | €319 | €741 | €7k | €8k | ▲ 10.2% |
| Profit (loss) for the period before taxes9903 | €8k | €67k | €79k | €12k | €9k | ▼ 28.9% |
| Income taxes67/77 | €2k | €14k | €21k | €5k | €5k | ▼ 2.8% |
| Profit (loss) for the period9904 | €6k | €53k | €59k | €7k | €4k | ▼ 45.9% |
| Profit (loss) for the period to be appropriated9905 | €6k | €53k | €59k | €7k | €4k | ▼ 45.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €152k | €156k | €349k | €362k | €325k | ▼ 10.2% |
| Fixed assets21/28 | €61k | €71k | €221k | €245k | €206k | ▼ 15.9% |
| Tangible fixed assets22/27 | €55k | €56k | €207k | €230k | €191k | ▼ 16.9% |
| Plant, machinery and equipment23 | €54k | €41k | €60k | €69k | €45k | ▼ 35.1% |
| Furniture and vehicles24 | - | - | €134k | €136k | €93k | ▼ 31.5% |
| Other tangible fixed assets26 | €359 | €15k | €13k | €26k | €54k | ▲ 109% |
| Financial fixed assets28 | €6k | €14k | €14k | €14k | €14k | = |
| Current assets29/58 | €91k | €86k | €128k | €117k | €119k | ▲ 1.8% |
| Stocks and contracts in progress3 | €57k | €59k | €23k | €21k | €20k | ▼ 4.2% |
| Stocks30/36 | €57k | €59k | €23k | €21k | €20k | ▼ 4.2% |
| Amounts receivable within one year40/41 | €11k | €3k | €71k | €42k | €10k | ▼ 76.2% |
| Trade receivables40 | €11k | €3k | €68k | €42k | €10k | ▼ 76.2% |
| Other amounts receivable41 | - | - | €4k | €0 | - | - |
| Cash at bank and in hand54/58 | €22k | €24k | €34k | €43k | €89k | ▲ 104% |
| Deferred charges and accrued income490/1 | - | - | - | €11k | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €152k | €156k | €349k | €362k | €325k | ▼ 10.2% |
| Equity10/15 | €41k | €94k | €152k | €160k | €164k | ▲ 2.5% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €22k | €75k | €134k | €141k | €145k | ▲ 2.9% |
| Non-distributable reserves130/1 | €201 | €201 | €201 | €201 | €201 | = |
| Reserves not available under the articles1311 | €201 | €201 | €201 | €201 | €201 | = |
| Distributable reserves133 | €22k | €75k | €133k | €141k | €145k | ▲ 2.9% |
| Amounts payable17/49 | €111k | €63k | €197k | €202k | €161k | ▼ 20.2% |
| Amounts payable after more than one year17 | - | - | €18k | €85k | €52k | ▼ 38.3% |
| Financial debts170/4 | - | - | €18k | €85k | €52k | ▼ 38.3% |
| Amounts payable within one year42/48 | €111k | €63k | €179k | €118k | €109k | ▼ 7.2% |
| Current portion of amounts payable after more than one year42 | - | - | €14k | €36k | €32k | ▼ 9.2% |
| Trade debts44 | €30k | €6k | €101k | €39k | €43k | ▲ 8.0% |
| Suppliers440/4 | €30k | €6k | €101k | €39k | €43k | ▲ 8.0% |
| Taxes, remuneration and social security45 | €9k | €28k | €38k | €41k | €31k | ▼ 23.3% |
| Taxes450/3 | €6k | €22k | €11k | €12k | €10k | ▼ 13.0% |
| Remuneration and social security454/9 | €3k | €6k | €27k | €28k | €21k | ▼ 27.7% |
| Other amounts payable47/48 | €72k | €30k | €26k | €2k | €3k | ▲ 59.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6k | €53k | €59k | €7k | €4k | ▼ 45.9% |
| + Depreciation and write-downs630 | €13k | €14k | €28k | €70k | €74k | ▲ 6.7% |
| Operating cash flow (approximation) | €19k | €66k | €87k | €77k | €78k | ▲ 1.6% |
| Investment in fixed assets (approximation) | - | €-23k | €-179k | €-93k | €-35k | ▲ 62.0% |
| Change in cash | - | €2k | €9k | €10k | €45k | ▲ 375% |
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
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Highest result since 2019net €59k ▲10.9%
Operating result €80k, net result €59k, both a record.
31-12
Financial
Equity above €150kEq €152k ▲62.6%
5 profitable years in a row build equity to €152k.
06-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
12-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
16-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
1 act for this company is 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, Geel · 1 establishment unit since 2018
Ground area
340 m²
Building footprint
251 m²
Parcel 13008H0412/00L000, Flanders. Linked by address, not a title deed.
1 establishment unit
AHSEN
since 20182.273.125.714
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13008H0412/00L000 | Flanders | 340 m² | 1 · 251 m² | - |
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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteGeel2.273.125.714
Similar companies · same sector, comparable size
HERMANS HERMAN
BE 0446.318.180
Heist-op-den-Berg · Eq €164,292
Bakkerij K. Engels
BE 0440.947.746
Heist-op-den-Berg · Eq €164,425
DW Group
BE 0463.301.593
Putte · Eq €162,518
A LA SOURCE DES DOUCEURS
BE 0881.930.532
Florenville · Eq €162,127
DeliCarl
BE 0700.989.997
Bonheiden · Eq €162,064
Of 2,404 companies in sector 47241 we hold annual accounts for 1,101. 859 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 (pre-2019)
Founded16-02-2018
Fiscal year end31-12
Activities, NACEBEL 2025
47241Retail sale of bread and pastry (bakery outlets)
47279Other retail sale of food
Scores and ratios are computed by Checked and are not a credit decision.