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AM-POWER

Active
Private limited company (pre-2019)founded 198243 yrs activeBrugsesteenweg 176, 8740 Pittem, BelgiumKBO/BCE: BE 0423.274.346
Summary

The computed 12-month bankruptcy probability of AM-POWER is 4.8% (elevated). The 2024 annual accounts show negative equity (-€21.5m) and a net result of -€3.7m. Equity is shrinking by ~57.2% per year across the filed fiscal years. Its solvency ranks better than 5% of 293 sector peers (fiscal year 2024). The company has been active since 1982 and the Belgian State Gazette contains no insolvency or warning signals.

Risk analysisWatch ReportCompare
AM-POWERActiveChecked score 35/100
Risk analysis ReportCompare

Overview

Activity
Production of electricity from non-renewable sources
NACE 35110
#6 oldest company in West Flanders, Energy sector1 site
Size
€2.1mturnover 2024
Staff
11.4 FTE
Equity
-€21.5m
Loss
-€3.7m
Financial health
35 Weak Checked score 2024
Bankruptcy chance 12 m
4.8%
Structure
Parent
EVERGAZ SA ( 824 418 222 )
Accounts 64 d overdue0 of 10 deeds read
Why 35- Liquidity: current ratio 0.54, cash €607,686- 1 financial year not filed after the legal deadline; latest accounts 189 days late; 3 of the last 3 late- Negative equity -€21.5m+ Founded in 1982Show the evidence

Checked score

Score 2024
35 / 100
Weak
Probability in this band: 4.2% to 15.0%
Better than 7% of its sector peers (NACE 35, small)
Performance against the sector, not lower risk
Every signal that weighs is under Signals.
Financial strength · tick = 2023
Weak
Solvency 0=
equity -189.0% of total assets
Liquidity 33+1
short-term debt 48.3% · cash 5.4%
Profitability 0=
return on assets -32.6%
Bankruptcy probability, 12 months
4.8% Elevated
0%0.5%1.5%4%10%≥ 25%

About 5 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.1% (255 companies)
Last 24 months 11-2024: 8.9% 12-2024: 8.9%● 0.0% vs 11-2024 01-2025: 8.9%● 0.0% vs 12-2024 02-2025: 8.9%● 0.0% vs 01-2025 03-2025: 8.7%▼ -1.3% vs 02-2025 04-2025: 8.7%● 0.0% vs 03-2025 05-2025: 8.4%▼ -3.5% vs 04-2025 06-2025: 8.5%▲ +1.4% vs 05-2025 07-2025: 8.6%▲ +0.7% vs 06-2025 08-2025: 8.0%▼ -6.7% vs 07-2025 09-2025: 7.8%▼ -2.5% vs 08-2025 10-2025: 7.1%▼ -9.3% vs 09-2025 11-2025: 7.2%▲ +1.1% vs 10-2025 12-2025: 7.8%▲ +8.7% vs 11-2025 01-2026: 10.5%▲ +33.9% vs 12-2025highest value 02-2026: 10.5%● 0.0% vs 01-2026highest value 03-2026: 5.8%▼ -44.4% vs 02-2026 04-2026: 5.8%● 0.0% vs 03-2026 05-2026: 5.8%● 0.0% vs 04-2026 06-2026: 5.9%▲ +1.5% vs 05-2026 07-2026: 5.9%▲ +0.6% vs 06-2026 08-2026: 5.7%▼ -3.9% vs 07-2026 09-2026: 5.6%▼ -2.6% vs 08-2026 10-2026: 4.8%▼ -14.1% vs 09-2026lowest value
  • Liquidity: current ratio 0.54, cash €607,686 raises the probability
  • 1 financial year not filed after the legal deadline; latest accounts 189 days late; 3 of the last 3 late raises the probability
  • Negative equity -€21.5m raises the probability
  • Founded in 1982 lowers the probability for this profile
No credit on open account
Liquidity short (current ratio 0.54 against 0.38 in 2023; short-term debt: 48.3% and cash: 5.4% of total assets), and equity is negative.
How it is calculated

The band comes from the bankruptcy probability on a scale of 0 to 100: every 10 points more double the odds of getting through the year without bankruptcy.

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%

Place inside the band: half the bankruptcy probability, half how the company does against its sector peers (NACE 35, small). Better than this share of them on solvency 1%, liquidity 15%, profitability 2%, growth against the median 10%. That is performance, not lower risk; the band itself always comes from the probability.

Bankruptcy probability: model pd-v3.202610021621, computed on 03-10-2026. The model learns from Belgian bankruptcies and reads the registers, the annual accounts and the gazette.

Ceilings: negative or zero equity, a heavy loss, a special KBO legal situation and a missing filing 59 (two missing 44), an ongoing judicial reorganisation or an ending 24. Financial strength does not count in the score.

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Signals

Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk
raises risk · Liquidity: current ratio 0.54, cash €607,686
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
raises risk · 1 financial year not filed after the legal deadline; latest accounts 189 days late; 3 of the last 3 late
In the bankruptcy model this factor raises the probability.
NBB · filings
raises risk · Negative equity -€21.5m
In the bankruptcy model this factor raises the probability.
NBB · annual accounts
lowers risk · Founded in 1982
In the bankruptcy model this factor lowers the probability for this profile.
KBO
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024
Equity per financial year
18192021222324
2018 to 2024 · latest year -€21.5m
raises risk · Filed more than 90 days late
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 05-02-2026, 189 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.
NBB · 10 filings
Deviation from the deadline
2025
not confirmed
2024
189 d late
2023
58 d late
2022
179 d late
2021
450 d late
2020
187 d late
2019
525 d late
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

This company filed its last 6 accounts on average 265 days after the deadline; the sector median for financial year 2024 is 22 days before the deadline, and 27% of the sector filed late.

Checked, nothing found (1)
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage
  1. Annual accounts filedfiscal year 2024 · abbreviated…
  2. Annual accounts filedfiscal year 2023 · abbreviated…
  3. Annual accounts filedfiscal year 2022 · abbreviated…

Key points

  • Risk: Negative equityfiscal year 2024: debts exceed assets -€21.5m View
  • Risk: 5 loss-making years in a rowloss fiscal year 2024 -€3.7m View
  • Caution: Turnover fell in 2024from €5.4m to €2.1m ▼ 60.1% View
  • Caution: Among the weakest 5% on solvencysector median 33.5% · 293 companies -189.0% View
  • Caution: Accounts not fileddeadline was 31-07-2026 64 d late View
  • Controlled by EVERGAZ SA ( 824… parent View
  • EU research moneyEU contribution €1.1m View

By topic

Financials

Fiscal year
2024
Turnover
€2.1m
Loss
-€3.7m
Solvency
-189.0%
Turnover▼ 60.1%
Net result
20222024
Go to Financials

Timeline

Events
12
Since
2016
  1. 05-02-2026Annual accounts filed
  2. 27-09-2024Annual accounts filed
  3. 26-01-2024Annual accounts filed
Go to Timeline

Company details

Sites
1
Legal form
Private limited company (pre-2019)
Activity
Production of electricity from non-renewable sourcesNACE 35110
Founded
23-12-1982
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Go further with this company

How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Is the workforce growing, and do people stay?Employer check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check What other support did companies like this one receive, and it did not?Subsidies

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