Equity
€10.1m ▲ 33×
Equity rose in 2025 from €305,060 to €10.1m.
Algemene Ondernemingen Aerts
Lifetime
17 annual accounts with figures on one time axis, 48 filings since 1977peak €13.1m (2025)
€13.1m▲ 15×
lowest -€35,542 (2016)
€9.8m▲ 466×
peak €10.1m (2025)
€10.1m▲ 33×
€966,287▼ 93.4%
peak 10.7 FTE (2010)
4.5 FTE▼ 16.7%
Board6 names since 2019
3 directorsDe Bie François Paul and 2 others
Owners2 names in the annual accounts
Documentsfilings and deeds
28-08-202628 days late
2025financial year
Gross margin from €851,707 to €13.1mResult from €21,074 to €9.8mStaff from 5.4 FTE to 4.5 FTEResignation: Immo Hagenbroek NV (director) 23-12Merger proposal: Algemene Ondernemingen Aerts NV takes over N… 13-11Appointments: De Bie Patrick (director) and De Bie Pascal (di… 23-06
Key points
from the 2025 annual accountsInvestments
€12,597 4.0 × depreciation
Green is investment, beige is depreciation.
Staff
4.5 FTE from 10.7 in 2010
Between 2010 and 2025, 58% of the full-time equivalents disappeared.
Liquidity
11.48 was 3.42 in 2024
Short-term debts fell from €3.6m to €966,287.
Filings
48 annual accounts since 1977
Ten of the last ten came late. The 2019 accounts came latest: 441 days after the end of the period.
Restructuring
2026
Merger with NIGHTINGALE FINANCE. Merger on 13-01-2026.
Net result +46,540%: one-off income
Checked score
94
Excellent
Financially stronger than 85% of micro companies in construction of buildings (NACE 41)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 1.5% across 13,457 companies (NACE 41, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 3.2%
01-2025: 3.5%▲ +0.3 percentage points vs 12-2024
02-2025: 3.9%▲ +0.4 percentage points vs 01-2025
03-2025: 5.0%▲ +1.1 percentage points vs 02-2025
04-2025: 1.8%▼ -3.2 percentage points vs 03-2025
05-2025: 1.8%● unchanged vs 04-2025
06-2025: 1.8%● unchanged vs 05-2025
07-2025: 1.8%● unchanged vs 06-2025
08-2025: 1.8%● unchanged vs 07-2025
09-2025: 1.8%● unchanged vs 08-2025
10-2025: 1.8%● unchanged vs 09-2025
11-2025: 1.8%● unchanged vs 10-2025
12-2025: 2.0%▲ +0.2 percentage points vs 11-2025
01-2026: 2.3%▲ +0.3 percentage points vs 12-2025
02-2026: 2.6%▲ +0.3 percentage points vs 01-2026
03-2026: 3.4%▲ +0.8 percentage points vs 02-2026
04-2026: 3.4%● unchanged vs 03-2026
05-2026: 6.5%▲ +3.1 percentage points vs 04-2026
06-2026: 8.6%▲ +2.1 percentage points vs 05-2026
07-2026: 8.8%▲ +0.2 percentage points vs 06-2026
08-2026: 8.8%● unchanged vs 07-2026highest value
09-2026: 0.2%▼ -8.6 percentage points vs 08-2026lowest value
10-2026: 0.2%● unchanged vs 09-2026lowest value
11-2026: 0.2%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
raises risk
1 change of registered office in 24 months
lowers risk
Founded in 1954
Size: 4.5 FTE, total assets €11.1m
Liquidity: current ratio 11.48, cash €1.4m
Calculation
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 41, micro). It does better than 92% of them on solvency, 71% on liquidity and 91% on profitability.
The bankruptcy probability was computed on 06-11-2026 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 very low class on 30-06-2025, 0.1% 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).
Comparable companies, two years later
In July 2024, 31,368 companies had the same profile as Algemene Ondernemingen Aerts has now. Each dot stands for 79 companies, two years later.
93.5%
were still trading
5.9%
stopped another way
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Algemene Ondernemingen Aerts itself: 0.2% within 12 months.
Test of the method
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 31,368 companies, not a prediction for Algemene Ondernemingen Aerts. 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.
Credit verdict
Credit of up to €950,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 11.48 (3.42 in 2024), above the usual 1.5. Short-term debt is 8.7% and cash 12.8% of total assets. 8.7% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €10.1m
raises risk · 2025 accounts filed 28 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
28 days late
2024
62 days late
2023
231 days late
2022
73 days late
2021
305 days late
2020
171 days late
2019
441 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 187 days after the deadline. In the sector (NACE 41), the median for financial year 2024 was on the deadline day, and 46% of those companies filed late.
Searched, nothing found (1)
Board and ownership
- NIGHTINGALE FINANCEequity €1.6m (2025) · deed of 13-11-2025
Shares in 2 companies, IMMO HAGENBROEK and NIGHTINGALE FINANCE
Board & ownershipRecent changes
Registered office moved from Lier to Schilde
New registered office: Dorpstraat 23A, 2970 Schilde · Previous registered office: Paaiestraat 9, 2500 Lier · Board meeting of 25-03-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0403868408
Merger: Algemene Ondernemingen Aerts takes over NIGHTINGALE FINANCE
Resignations: De Bie François Paul, De Bie Patrick and De Bie Pascal · Reappointments: De Bie François Paul, De Bie Patrick and De Bie Pascal · “De vennootschap heeft tot voorwerp: alle aannemingen van openbare en private bouw- en…” (deed in Dutch) · General meeting of 23-12-2025 · Gazette deed
Resignation: Immo Hagenbroek NV (director)
Director discharge: Immo Hagenbroek NV · General meeting of 15-10-2025 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Algemene Ondernemingen Aerts Schilde | - | - | 91.3% | 4.5 |
| DELEERSNYDER Zulte | - | - | 92.9% | 7.3 |
| Bouwbedrijf G. Sels Schilde | - | - | 6.7% | 9.5 |
| DISA International Holding Beerse | €3.2m | -0.4% | 52.3% | 4 |
| ORELIA BOUW Wommelgem | €10.5m | -13.5% | 18.8% | 2.3 |
| SCHOUKENS Halle | €2.1m | 24.4% | 82.6% | 3.3 |
| WIESEN-PIRONT Amblève | €22.8m | 7.4% | 61.8% | 3.1 |
These companies have the same main activity as Algemene Ondernemingen Aerts: general construction of residential buildings (NACE 41001). They are comparable in size and age: total assets between €6.2m and €24m, founded between 1968 and 1991.
Official details
Source: KBO- Status
- Active since 27-02-1954Normal situation
- Activity
- General construction of residential buildingsNACE 41001and 1 other
- Establishment unit
- 2.039.785.1852500 Lier, since 01-02-1954
- Financial year end
- 31 December
- Peppol
- Reachable since 30-01-2026
Annual accounts 2025
- ≈ €23.0mestimated
- €11.1m
- Employeeson 31-12-2025
- 2
- Filing
- Filed on 28-08-2026
Insights on Algemene Ondernemingen Aerts
Algemene Ondernemingen Aerts has existed since 1954. The present size dates from 2025. The gross margin rose that year from €851,707 to €13.1m.
Solvency rose in 2025 from 1.9% to 91.3% because of the retained profit and lower debts.
In July 2022, the Official Gazette published the appointment of François De Bie as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Algemene Ondernemingen Aerts
- What is the company number of Algemene Ondernemingen Aerts?
- The company number of Algemene Ondernemingen Aerts is 0403.868.408. The VAT number is the same number with BE in front: BE 0403.868.408.
- Where is Algemene Ondernemingen Aerts based?
- The registered office is at Dorpsstraat 23, 2970 Schilde.Company details
- What does Algemene Ondernemingen Aerts do?
- According to the KBO register, the main activity is general construction of residential buildings (NACE 41001).
- What is the legal form of Algemene Ondernemingen Aerts?
- Algemene Ondernemingen Aerts is a public limited company (NV).
- When was Algemene Ondernemingen Aerts founded?
- Algemene Ondernemingen Aerts was founded on 27-02-1954.
- Is Algemene Ondernemingen Aerts still active?
- Yes, Algemene Ondernemingen Aerts is an active enterprise in the KBO register.
- How many employees does Algemene Ondernemingen Aerts have?
- Algemene Ondernemingen Aerts had an average of 4.5 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- What is the turnover of Algemene Ondernemingen Aerts?
- The turnover in financial year 2025 is ≈ €23.0m. This figure is estimated from the gross margin of €13.1m and 1,585 comparable companies of the same size. It probably lies between €15.0m and €37.0m. It is a rough estimate. In financial year 2023 turnover was €463,293.
- Is Algemene Ondernemingen Aerts profitable?
- In financial year 2025, Algemene Ondernemingen Aerts made a profit of €9.8m.
- Where can I find the annual accounts of Algemene Ondernemingen Aerts?
- Algemene Ondernemingen Aerts filed 48 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
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