Summary
Ando Group is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €25.4m and a net result of -€377,842. Equity is growing by ~34.7% per year across the filed fiscal years. Its solvency ranks better than 37% of 2413 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 17-08-2026, 17 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 4 filingsDeviation from the deadline
2025
17 d late
2024
2 d early
2023
12 d late
2022
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 15 days after the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#6 employer in Mechelen, Finance and insurance sector
Equity
€25.4m▲ 67.4%
2024 · €15.2m
Net result
-€377,842
2024 · €139,812
Total assets
€55.1m▲ 65.7%
2024 · €33.2m
Solvency
46.1%▲ 0.5pp
2024 · 45.7%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, 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
Line2022202320242025
Turnover€885,933-€1.9m▲ 116%€1.8m▼ 6.5%€3.3m▲ 84.2%
Operating result€60,910--€144,779€808,464€216,288▼ 73.2%
Net result-€354,962below the sector's middle half--€1.0mbelow the sector's middle half▼ 184%€139,812within the sector's middle half-€377,842below the sector's middle half
Equity€9.5mwithin the sector's middle half-€15.0mwithin the sector's middle half▲ 58.6%€15.2mwithin the sector's middle half▲ 0.9%€25.4mabove the sector's middle half▲ 67.4%
Total assets€24.7mwithin the sector's middle half-€33.4mwithin the sector's middle half▲ 35.0%€33.2mwithin the sector's middle half▼ 0.5%€55.1mabove the sector's middle half▲ 65.7%
Debt€15.3m-€18.4m▲ 20.3%€18.1m▼ 1.6%€29.7m▲ 64.2%
Working capital-€8.4m--€531,949▲ 93.7%-€11.2m▼ 1,998%€16.4m
Solvency38.3%within the sector's middle half-45.0%within the sector's middle half▲ 6.7pp45.7%within the sector's middle half▲ 0.6pp46.1%within the sector's middle half▲ 0.5pp
Staff (FTE)15.6above the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 73% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €55.0m
Fixed assets
€26.5m ▲ 1.3%
Current assets
€28.5m ▲ 312%
Equity and liabilities €55.1m
Equity
€25.4m ▲ 67.4%
Debt
€29.7m ▲ 64.2%
Debt's share of the balance-sheet total falls from 54.3% to 53.9%. Equity and debt are higher.
Key figures and ratios
ROE
-1.5%▼
2024 · 0.9%
ROA
-0.7%▼
2024 · 0.4%
Debt ≤ 1 year
€12.0m▼
2024 · €18.1m
Debt > 1 year
€17.5m
Income taxes
€2,893
Staff costs
€1.7m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Operating income70/76A | €885,933 | €1.9m | €3.1m | €6.1m | ▲ 97.3% |
| Turnover70 | €885,933 | €1.9m | €1.8m | €3.3m | ▲ 84.2% |
| Other operating income74 | - | €4,500 | €1.3m | €2.8m | ▲ 114% |
| Non-recurring operating income76A | - | - | - | €6,461 | - |
| Operating charges60/66A | €825,023 | €2.1m | €2.3m | €5.9m | ▲ 157% |
| Goods for resale, raw materials and consumables60 | €12,853 | €0 | - | - | - |
| Purchases600/8 | €12,853 | €0 | - | - | - |
| Services and other goods61 | €769,686 | €1.7m | €2.1m | €3.1m | ▲ 44.4% |
| Remuneration, social security and pensions62 | - | - | - | €1.7m | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €41,989 | €59,650 | €118,641 | €263,950 | ▲ 122% |
| Other operating charges640/8 | €497 | €678 | €249 | €6,846 | ▲ 2,649% |
| Non-recurring operating charges66A | - | €337,767 | €55,674 | €895,367 | ▲ 1,508% |
| Operating profit (loss)9901 | €60,910 | -€144,779 | €808,464 | €216,288 | ▼ 73.2% |
| Financial income75/76B | €3,321 | €104,299 | €111,820 | €497,685 | ▲ 345% |
| Recurring financial income75 | €3,321 | €104,299 | €111,820 | €497,685 | ▲ 345% |
| Income from financial fixed assets750 | €0 | €0 | - | €0 | - |
| Income from current assets751 | €3,321 | €104,298 | €110,054 | €496,278 | ▲ 351% |
| Other financial income752/9 | €0 | €1 | €1,766 | €1,407 | ▼ 20.3% |
| Financial charges65/66B | €419,193 | €966,917 | €780,472 | €1.1m | ▲ 39.5% |
| Recurring financial charges65 | €419,193 | €966,917 | €780,472 | €1.1m | ▲ 39.5% |
| Debt charges650 | €418,543 | €940,170 | €751,712 | €1.1m | ▲ 40.9% |
| Other financial charges652/9 | €650 | €26,747 | €28,760 | €29,984 | ▲ 4.3% |
| Profit (loss) for the period before taxes9903 | -€354,962 | -€1.0m | €139,812 | -€374,949 | ▼ 368% |
| Income taxes67/77 | - | - | - | €2,893 | - |
| Taxes670/3 | - | - | - | €2,893 | - |
| Profit (loss) for the period9904 | -€354,962 | -€1.0m | €139,812 | -€377,842 | ▼ 370% |
| Profit (loss) for the period to be appropriated9905 | -€354,962 | -€1.0m | €139,812 | -€377,842 | ▼ 370% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €24.7m | €33.4m | €33.2m | €55.1m | ▲ 65.7% |
| Formation expenses20 | €243,512 | €186,449 | €129,226 | €76,512 | ▼ 40.8% |
| Fixed assets21/28 | €22.5m | €22.8m | €26.2m | €26.5m | ▲ 1.3% |
| Intangible fixed assets21 | - | €46,758 | €727,535 | €898,378 | ▲ 23.5% |
| Tangible fixed assets22/27 | - | - | €45,610 | €75,603 | ▲ 65.8% |
| Plant, machinery and equipment23 | - | - | €36,397 | €68,131 | ▲ 87.2% |
| Furniture and vehicles24 | - | - | €9,213 | €7,472 | ▼ 18.9% |
| Financial fixed assets28 | €22.5m | €22.7m | €25.4m | €25.6m | ▲ 0.5% |
| Affiliated companies280/1 | €22.5m | €22.7m | €25.4m | €25.4m | = |
| Participating interests280 | €22.5m | €22.7m | €25.4m | €25.4m | = |
| Other financial fixed assets284/8 | - | - | - | €127,050 | - |
| Amounts receivable and cash guarantees285/8 | - | - | - | €127,050 | - |
| Current assets29/58 | €2.0m | €10.5m | €6.9m | €28.5m | ▲ 312% |
| Stocks and contracts in progress3 | €0 | €0 | - | €0 | - |
| Amounts receivable within one year40/41 | €2.0m | €10.4m | €6.9m | €26.9m | ▲ 290% |
| Trade receivables40 | €778,635 | €1.1m | €1.3m | €8.4m | ▲ 540% |
| Other amounts receivable41 | €1.3m | €9.3m | €5.6m | €18.5m | ▲ 231% |
| Cash at bank and in hand54/58 | - | - | - | €1.4m | - |
| Deferred charges and accrued income490/1 | - | €43,132 | - | €188,265 | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €24.7m | €33.4m | €33.2m | €55.1m | ▲ 65.7% |
| Equity10/15 | €9.5m | €15.0m | €15.2m | €25.4m | ▲ 67.4% |
| Contributions10/11 | €9.8m | €16.4m | €16.4m | €27.0m | ▲ 64.7% |
| Profit (loss) carried forward14 | -€354,962 | -€1.4m | -€1.2m | -€1.6m | ▼ 30.9% |
| Amounts payable17/49 | €15.3m | €18.4m | €18.1m | €29.7m | ▲ 64.2% |
| Amounts payable after more than one year17 | €4.8m | €7.4m | - | €17.5m | - |
| Financial debts170/4 | €4.8m | €7.4m | - | €17.5m | - |
| Credit institutions173 | €1.0m | €3.4m | - | €17.5m | - |
| Other loans174 | €3.8m | €4.0m | - | - | - |
| Amounts payable within one year42/48 | €10.5m | €11.0m | €18.1m | €12.0m | ▼ 33.5% |
| Current portion of amounts payable after more than one year42 | - | - | €7.5m | €1.7m | ▼ 77.9% |
| Financial debts43 | €330,948 | €349,484 | €868,279 | €0 | ▼ 100% |
| Credit institutions430/8 | €330,948 | €349,484 | €868,279 | €0 | ▼ 100% |
| Trade debts44 | €216,584 | €468,084 | €586,019 | €2.3m | ▲ 288% |
| Suppliers440/4 | €216,584 | €468,084 | €586,019 | €2.3m | ▲ 288% |
| Taxes, remuneration and social security45 | - | €68,710 | €49,215 | €382,415 | ▲ 677% |
| Taxes450/3 | - | €68,710 | €49,215 | €49,005 | ▼ 0.4% |
| Remuneration and social security454/9 | - | - | - | €333,410 | - |
| Other amounts payable47/48 | €9.9m | €10.1m | €9.0m | €7.7m | ▼ 14.7% |
| Accrued charges and deferred income492/3 | €26,925 | €5,063 | €1,980 | €116,671 | ▲ 5,792% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€354,962 | -€1.0m | €139,812 | -€377,842 | ▼ 370% |
| + Depreciation and write-downs630 | €41,989 | €59,650 | €118,641 | €263,950 | ▲ 122% |
| Operating cash flow (approximation) | -€312,973 | -€947,748 | €258,453 | -€113,892 | ▼ 144% |
| Investment in fixed assets (approximation) | - | -€362,848 | -€3.6m | -€591,835 | ▲ 83.4% |
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
17-08
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 17 days late
10-08
State Gazette act
Capital & shares · Statutes amendmentApproval · Auditor report · Declaration8 facts ▸
State Gazette act
Capital & shares · Statutes amendment
Approval · Auditor report · Declaration8 facts ▸
- General meeting, buitengewone algemene vergadering
- Approval, goedkeuring gecombineerd verslag bestuursorgaan en commissaris, 1
- Auditor report, commissaris, Norm inzake opdracht bedrijfsrevisor in kader inbreng in natura en quasi-inbreng Instituut Bedrijfsrevisoren
- Auditor report, uitgifte aandelen, niets onder aandacht dat boekhoudkundige en financiële gegevens met verantwoording uitgifteprijs en gevolgen vermogens- en lidmaatschapsrecht…
- Declaration, laattijdigheid zonder wezenlijke invloed op opdracht
- Other statement, 02-07-2026
- Capital increase, €5.363.939,66
- Statutes amendment, 5.1
22-07
State Gazette act
Resignation: DE VALK Michaël (niet statutaire verstuurder)Permanent representative: Bastiaan Brefeld · Appointment: De Piloot B.V. (non-statutory director) · Approval10 facts ▸
State Gazette act
Resignation: DE VALK Michaël (niet statutaire verstuurder)
Permanent representative: Bastiaan Brefeld · Appointment: De Piloot B.V. (non-statutory director) · Approval10 facts ▸
- Approval, wijzigingen rechten soorten aandelen door niet-evenredige uitgifte, verslag bestuursorgaan
- Capital increase, €5.385.372,21
- Statutes amendment, 5.1
- General meeting, 29-06-2026
- Director resignation, DE VALK Michaël (niet statutaire verstuurder)
- Permanent representative, Bastiaan Brefeld (permanent representative)
- Board meeting, schriftelijk besluit, zetelverplaatsing
- Registered-office move, Vaartdijk 90,2800 Mechelen
- Other statement, dossier ondergetekende notaris, bewaring schriftelijke besluiten
- Director appointment, De Piloot B.V. (non-statutory director)
2025
31-12
Financial
Liquidity times 6current ratio 2.37
Current ratio from 0.38 to 2.37; short-term debt falls from €18.1m to €12.0m.
31-12
Financial
Equity above €25mEq €25.4m ▲67.4%
Equity rises from €15.2m to €25.4m.
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Back to profitnet €139,812
Net result €139,812 after 2 loss-making years.
12-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 12 days late
2023
31-12
Financial
Weakest financial yearnet -€1.0m
Net result drops to -€1.0m, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €10mEq €15.0m ▲58.6%
Equity rises from €9.5m to €15.0m.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 31 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
2 of 19 acts read
About the unread acts
Of the 19 Belgian State Gazette acts we know for this company, 2 have been read. The other 17 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
De Piloot B.V.
CurrentNon-statutory director · since 22-07-2026 · Legal entity · from a recent act
"From a recent act": read from a Gazette act not yet processed into our list of directors.
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
17 of this company's 19 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Mechelen · 1 establishment unit since 2021
Ground area
6.2 ha
Building footprint
2.6 ha
Volume, LiDAR
290,663 m³
2 parcels, Flanders · tallest building 21.6 m, ±4 floors. Linked by address, not a title deed.
21
companies at this address
See who is registered here
1 establishment unit
Duwijckstraat 17, 2500 Lier
since 20212.325.901.137
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12392A0300/00C000 | Flanders | 5.6 ha | 1 · 2.3 ha | 20.8 m · 3 fl. |
| 12403D0040/00W004 | Flanders | 5,413 m² | 1 · 2,703 m² | 21.6 m · 4 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Mandate history
2 people since 2026, 1 in office
- Board
- Other function
- began earlier
| Name | Functions and periods |
|---|---|
| De Piloot B.V.from an act |
|
| DE VALK Michaël |
|
Articles of association
Other statement
Verantwoordelijkheid bestuursorgaan inbreng in natura
Verantwoordelijkheid bestuursorgaan uitgifte aandelen
Verantwoordelijkheid commissaris inbreng in natura
1 more provision on this in the deed
Structure & network
Owners and holdings
4 holdings · 9 subsidiaries in the treeOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 4
-
100%
-
100%
-
100%
-
80%
All subsidiaries, including indirect ones 9
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
- Amista NederlandNL 100%
ANROVA SOLUTIONS 100%5 subsidiaries
- RECOMATICS 100%
- Amista LuxemburgLU 80%
According to the 2025 annual accounts of Ando Group and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
The group is listed under Ownership & control below; here you explore it as a network.
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Ownership & control
3 board mandatesBoard mandates of this companythis company sits on their board3
Capital and shareholders
Capital over the years
- 10-08-2026 Capital increase of 5,363,939.66 EUR · 1,524,716 new shares
Recognitions · licences · registrations
Legal Entity Identifier
984500BDBC3C902EM892
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,773. 3,810 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
Founded06-12-2021
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
70100Activities of head offices
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0778297019
Also
9925:BE0778297019
Registered
19-05-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.