Equity
AJL SOLUTION has made a profit in every financial year since 2023.
AJL SOLUTION has made a profit in every financial year since 2023.
The micro format states no turnover.
Of this, €156,668 falls due within a year.
Mortgage mandates, new in 2025. 6.1 times equity · not in the 2024 accounts.
Green is investment, beige is depreciation. Land and buildings stand 62.3% higher than in 2024.
Lower solvency than 85% of companies in head offices and management consultancy. Sector median 55.5% · 39,368 companies.
The dashed line is the sector median: 0.1% across 48,570 companies (NACE 70, micro).
About 7 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 70, micro). It does better than 15% of them on solvency, 76% on liquidity, 23% on profitability and 82% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 1,514 companies had the same profile as AJL SOLUTION has now. Each dot stands for 4 companies, two years later.
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of AJL SOLUTION itself: 0.7% within 12 months.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,514 companies, not a prediction for AJL SOLUTION. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is insufficient, with a current ratio of 0.07 (0.1 in 2024), below 1. Short-term debt is 22.9% of total assets. 92.1% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 3 accounts on average 17 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Shares in 1 company, BW Financial Center
Board & ownership| Company | ||||
|---|---|---|---|---|
| AJL SOLUTION Thuin | €685,384 | €64,650 | 7.9% | - |
| LT-Holding Oud-Turnhout | €727,577 | €64,055 | 82.1% | - |
| Ghar Antwerp | €613,951 | €60,138 | -8.1% | - |
| VALMAR Knokke-Heist | €633,499 | €63,910 | 28.3% | - |
| JUNIPR Halle | €599,010 | €56,862 | 38.0% | - |
| Ebbs oder Nix Knokke-Heist | €568,585 | €54,808 | 22.5% | - |
| Delyse Ghent | €641,638 | €51,701 | -0.5% | - |
These companies have the same main activity as AJL SOLUTION: activities of head offices (NACE 70100). They are comparable in size and age: total assets between €569,000 and €728,000, founded between 2022 and 2023.
AJL SOLUTION files the micro format. That format states no turnover. The gross margin rose from €30,552 in 2023 to €64,650 in 2025.
The balance sheet grew most from 2024 to 2025 through fixed assets, financed with long-term debt.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €130,000. Estimated: probably between €100,000 and €170,000.
Higher than 15% of 39,368 companies in 2025.
Lower than 95% of 38,051 companies in 2025.
Higher than 27% of 38,523 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: top quarter · Working capital: bottom quarter
| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet: assets | ||||
20/58 |
685,384 | 621,669 | 55,953 | |
21/28 |
674,936 | 608,305 | 15,975 | |
22/27 |
674,336 | 607,705 | 15,375 | |
22 |
665,739 | 410,080 | - | |
23 |
1,125 | 1,565 | 2,006 | |
24 |
7,472 | 10,421 | 13,369 | |
27 |
- | 185,639 | - | |
28 |
600 | 600 | 600 | |
29/58 |
10,448 | 13,364 | 39,978 | |
40/41 |
10,423 | 6,144 | 10,000 | |
40 |
- | - | 10,000 | |
41 |
10,423 | 6,144 | - | |
54/58 |
- | 7,184 | 29,883 | |
490/1 |
25 | 36 | 95 | |
| Balance sheet: equity and liabilities | ||||
10/49 |
685,384 | 621,669 | 55,953 | |
10/15 |
54,474 | 34,321 | 23,719 | |
10/11 |
2,500 | 2,500 | 2,500 | |
14 |
51,974 | 31,821 | 21,219 | |
17/49 |
630,910 | 587,348 | 32,234 | |
17 |
472,643 | 456,517 | 20,000 | |
170/4 |
472,643 | 456,517 | 20,000 | |
42/48 |
156,668 | 130,831 | 12,234 | |
42 |
21,804 | - | 1,313 | |
43 |
4,272 | - | - | |
430/8 |
4,272 | - | - | |
44 |
2,811 | 8,964 | 1,875 | |
440/4 |
2,811 | 8,964 | 1,875 | |
45 |
2,000 | 4,210 | 5,500 | |
450/3 |
- | 1,190 | 2,480 | |
454/9 |
2,000 | 3,020 | 3,020 | |
47/48 |
125,781 | 117,657 | 3,546 | |
492/3 |
1,599 | - | - | |
| Income statement | ||||
9900 |
64,650 | 39,980 | 30,552 | |
630 |
18,424 | 11,337 | 1,570 | |
640/8 |
109 | 414 | 95 | |
9901 |
46,117 | 28,229 | 28,887 | |
75/76B |
92 | 132 | 7 | |
75 |
92 | 132 | 7 | |
65/66B |
20,308 | 13,759 | 1,695 | |
65 |
20,308 | 13,759 | 1,695 | |
9903 |
25,901 | 14,602 | 27,199 | |
67/77 |
5,748 | 4,000 | 5,980 | |
9904 |
20,153 | 10,602 | 21,219 | |
9905 |
20,153 | 10,602 | 21,219 | |
| Appropriation of the result | ||||
9906 |
51,974 | 31,821 | 21,219 | |
14P |
31,821 | 21,219 | - | |
| Document | ||||
The notes to these accounts have 12 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 03-07-2026.
| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| 64,541 | 39,566 | 30,457 | ||
| 38,577 | 21,939 | 22,789 | ||
| 270,694 | 603,667 | 17,545 | ||
| - | -22,699 | - | ||
| -146,220 | -117,467 | 27,744 | ||
| 7.9% | 5.5% | 42.4% | ||
| 0.07 | 0.10 | 3.27 | ||
| 11.58 | 17.11 | 1.36 | ||
| 37.0% | 30.9% | 89.5% | ||
| 2.9% | 1.7% | 37.9% | ||
| 3.18 | 2.88 | 17.97 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Mortgages, amount registered | €176,000 | - | - |
| €330,000 | - | - | |
| Carrying value of the mortgaged assets | €665,738 | - | - |
Source: notes to the 2023 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Tangible fixed assets | €270,694 | €603,667 | €16,945 |
| Financial fixed assets | - | - | €600 |
| €18,424 | €11,337 | €1,570 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 63% higher than in 2024 and the highest since 2023. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total falls from 94.5% to 92.1%. Equity and debt are higher.
Source: list of holdings in its own 2025 accounts. Every holding stands with its own latest accounts.
| Name | 2023 | 2024 | 2025 |
|---|---|---|---|
| BW Financial Center | 15% | ||
Source: list of holdings in its own accounts
The network starts from the directors of AJL SOLUTION. Every other company they run is a node.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
AJL SOLUTION was incorporated on 4 May 2023 as a private limited company by one natural person, with a starting capital of €2,500.12 The registered office was moved to Gozée in 2024.3 The board currently has 2 members. Anne-Julie LEFEBVRE has served longest, since 2023.4 Total assets rose from €55,953 in 2023 to €685,384 in 2025.5
| Establishment | Since | Unit number |
|---|---|---|
| Rue du Bois Leratz 39 registered office 6534 Thuin | ||
| Rue du Stocquy 80 6182 Courcelles 64210 Activities of holding companies | 04-05-2023 | 2.346.326.763 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 56352A0221/00P000 | 783 m² | 1 · 172 m² | 5.8 m · 1 |
| 52064B0825/00X003 | 419 m² | 1 · 107 m² | 9.8 m · 3 |
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