AQAB
ActiveSummary
AQAB has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €243,406 and a net result of €13,167. Equity is growing by ~12.8% per year across the filed fiscal years. Its solvency ranks better than 14% of 8161 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability69▼-1
Solvency30▼-8
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €12,000 at 30 days acceptable
Liquidity tight (current ratio 1.04 against 1.12 in 2024; short-term debt: 95% and cash: 5.8% of total assets), and 95% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% 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
5%
Return on assets
0.3%
Age of the figures
18 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 8161 sector peers (2025).
NBB · sector comparisonPosition among 8161 sector peers
Solvency
better than 14%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 27-11-2025, 27 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 · 10 filingsDeviation from the deadline
2025
27 d late
2024
119 d late
2023
58 d late
2022
29 d late
2021
30 d late
2020
45 d late
2019
28 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 48 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today. Usually files around 30 November (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
31-03-2026 close29-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€243,406▲ 5.7%
2024 · €230,239
Total assets
€4.8m▲ 174%
2024 · €1.8m
Net result
€13,167▼ 13.0%
2024 · €15,135
Working capital
€164,364▼ 9.8%
2024 · €182,296
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, 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
Line20212022202320242025
Operating result€25,338▲ 18.4%€58,281▲ 130%€56,543▼ 3.0%€29,245▼ 48.3%€26,110▼ 10.7%
Net result€17,267within the sector's middle half▲ 22.7%€35,875within the sector's middle half▲ 108%€27,371within the sector's middle half▼ 23.7%€15,135within the sector's middle half▼ 44.7%€13,167within the sector's middle half▼ 13.0%
Equity€151,857within the sector's middle half▲ 12.8%€187,732within the sector's middle half▲ 23.6%€215,103within the sector's middle half▲ 14.6%€230,239within the sector's middle half▲ 7.0%€243,406within the sector's middle half▲ 5.7%
Total assets€2.2mwithin the sector's middle half▲ 128%€2.5mwithin the sector's middle half▲ 16.7%€4.7mabove the sector's middle half▲ 88.0%€1.8mwithin the sector's middle half▼ 62.8%€4.8mabove the sector's middle half▲ 174%
Debt€2.0m▲ 148%€2.3m▲ 16.1%€4.5m▲ 93.9%€1.5m▼ 66.1%€4.6m▲ 199%
Working capital€127,188within the sector's middle half▲ 11.6%€163,063within the sector's middle half▲ 28.2%€189,506within the sector's middle half▲ 16.2%€182,296within the sector's middle half▼ 3.8%€164,364within the sector's middle half▼ 9.8%
Solvency7.0%below the sector's middle half▼ 7.2pp7.5%below the sector's middle half▲ 0.4pp4.5%below the sector's middle half▼ 2.9pp13.1%below the sector's middle half▲ 8.5pp5.0%below the sector's middle half▼ 8.0pp
Current ratio1.06below the sector's middle half▼ 0.081.07below the sector's middle half▲ 0.011.04below the sector's middle half▼ 0.031.12below the sector's middle half▲ 0.081.04below the sector's middle half▼ 0.08
Return on assets (ROA)0.8%below the sector's middle half▼ 0.7pp1.4%within the sector's middle half▲ 0.6pp0.6%within the sector's middle half▼ 0.8pp0.9%within the sector's middle half▲ 0.3pp0.3%within the sector's middle half▼ 0.6pp
Staff (FTE)2.3within the sector's middle half▲ 21.1%1.9within the sector's middle half▼ 17.4%1.8within the sector's middle half▼ 5.3%1.6within the sector's middle half▼ 11.1%1.7within the sector's middle half▲ 6.3%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 11% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.8m
Fixed assets
€79,042 ▲ 64.9%
Current assets
€4.7m ▲ 177%
Equity and liabilities €4.8m
Equity
€243,406 ▲ 5.7%
Debt
€4.6m ▲ 199%
Debt's share of the balance-sheet total rises from 86.9% to 95.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€42,415▲
2024 · €35,102
Cash flow
€29,473▲
2024 · €20,993
Quick ratio
0.94▲
2024 · 0.68
Debt to equity
18.82▲
2024 · 6.65
ROE
5.4%▼
2024 · 6.6%
Interest coverage
8.11▲
2024 · 7.46
Debt ≤ 1 year
€4.6m▲
2024 · €1.5m
Income taxes
€8,144▼
2024 · €9,891
Staff costs
€60,434▲
2024 · €43,988
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,082 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 97% are still going.
- Micro
- 20 years or older
- solvency under 10%
- a profit under 5% of the balance sheet
0.8%
went bankrupt
2.2%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.6% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,082 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €246,846 | - |
| Remuneration, social security and pensions62 | - | €35,432 | €46,498 | €43,988 | €60,434 | ▲ 37.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,282 | - | €9,391 | €5,857 | €16,305 | ▲ 178% |
| Other operating charges640/8 | - | €2,259 | €3,731 | €4,379 | €3,278 | ▼ 25.1% |
| Gross operating margin9900 | €73,554 | €95,972 | €116,163 | €83,469 | €106,127 | ▲ 27.1% |
| Operating profit (loss)9901 | €25,338 | €58,281 | €56,543 | €29,245 | €26,110 | ▼ 10.7% |
| Financial income75/76B | - | €445 | €100 | €487 | €429 | ▼ 11.8% |
| Recurring financial income75 | €395 | €445 | €100 | €487 | €429 | ▼ 11.8% |
| Financial charges65/66B | - | €8,778 | €15,087 | €4,705 | €5,227 | ▲ 11.1% |
| Recurring financial charges65 | €3,106 | €8,778 | €15,087 | €4,705 | €5,227 | ▲ 11.1% |
| Profit (loss) for the period before taxes9903 | €22,628 | €49,948 | €41,556 | €25,026 | €21,312 | ▼ 14.8% |
| Income taxes67/77 | €5,361 | €14,073 | €14,184 | €9,891 | €8,144 | ▼ 17.7% |
| Profit (loss) for the period9904 | €17,267 | €35,875 | €27,371 | €15,135 | €13,167 | ▼ 13.0% |
| Profit (loss) for the period to be appropriated9905 | €17,267 | €35,875 | €27,371 | €15,135 | €13,167 | ▼ 13.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.2m | €2.5m | €4.7m | €1.8m | €4.8m | ▲ 174% |
| Fixed assets21/28 | €24,669 | €24,669 | €25,597 | €47,942 | €79,042 | ▲ 64.9% |
| Tangible fixed assets22/27 | €17,411 | €17,411 | €18,340 | €40,685 | €71,784 | ▲ 76.4% |
| Plant, machinery and equipment23 | - | €6,146 | €2,485 | €1,356 | €16,446 | ▲ 1,113% |
| Furniture and vehicles24 | - | €2,037 | €7,307 | €32,582 | €50,391 | ▲ 54.7% |
| Other tangible fixed assets26 | - | €9,228 | €8,547 | €6,747 | €4,947 | ▼ 26.7% |
| Financial fixed assets28 | €7,258 | €7,258 | €7,258 | €7,258 | €7,258 | = |
| Current assets29/58 | €2.1m | €2.5m | €4.7m | €1.7m | €4.7m | ▲ 177% |
| Stocks and contracts in progress3 | €1.3m | €197,580 | €4.0m | €665,268 | €447,964 | ▼ 32.7% |
| Stocks30/36 | - | €197,580 | €4.0m | €665,268 | €447,964 | ▼ 32.7% |
| Amounts receivable within one year40/41 | €540,910 | €2.1m | €562,800 | €818,980 | €4.0m | ▲ 389% |
| Trade receivables40 | - | €2.1m | €556,693 | €818,980 | €4.0m | ▲ 389% |
| Other amounts receivable41 | - | €6,012 | €6,107 | - | €50 | - |
| Cash at bank and in hand54/58 | €288,943 | €181,074 | €153,611 | €222,782 | €281,360 | ▲ 26.3% |
| Deferred charges and accrued income490/1 | - | €649 | €5,809 | €7,040 | €7,993 | ▲ 13.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.2m | €2.5m | €4.7m | €1.8m | €4.8m | ▲ 174% |
| Equity10/15 | €151,857 | €187,732 | €215,103 | €230,239 | €243,406 | ▲ 5.7% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €14,728 | €14,728 | €14,728 | €14,728 | €14,728 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | €12,868 | €12,868 | €14,728 | €14,728 | = |
| Profit (loss) carried forward14 | €118,529 | €154,404 | €181,775 | €196,910 | €210,078 | ▲ 6.7% |
| Amounts payable17/49 | €2.0m | €2.3m | €4.5m | €1.5m | €4.6m | ▲ 199% |
| Amounts payable within one year42/48 | €2.0m | €2.3m | €4.5m | €1.5m | €4.6m | ▲ 199% |
| Trade debts44 | €2.0m | €2.3m | €4.4m | €1.5m | €4.5m | ▲ 210% |
| Suppliers440/4 | - | €2.3m | €4.4m | €1.5m | €4.5m | ▲ 210% |
| Taxes, remuneration and social security45 | - | €47,522 | €103,722 | €26,313 | €22,915 | ▼ 12.9% |
| Taxes450/3 | - | €37,224 | €91,266 | €20,504 | €17,098 | ▼ 16.6% |
| Remuneration and social security454/9 | - | €10,298 | €12,455 | €5,809 | €5,817 | ▲ 0.1% |
| Other amounts payable47/48 | - | €11,803 | €24,244 | €54,766 | €59,832 | ▲ 9.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,267 | €35,875 | €27,371 | €15,135 | €13,167 | ▼ 13.0% |
| + Depreciation and write-downs630 | €4,282 | - | €9,391 | €5,857 | €16,305 | ▲ 178% |
| Operating cash flow (approximation) | €21,549 | €35,875 | €36,762 | €20,993 | €29,473 | ▲ 40.4% |
| Investment in fixed assets (approximation) | - | €0 | -€10,319 | -€28,202 | -€47,405 | ▼ 68.1% |
| Change in cash | - | -€107,869 | -€27,464 | €69,172 | €58,577 | ▼ 15.3% |
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
2025
27-11
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 27 days late
27-02
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 119 days late
2023
28-12
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 58 days late
31-03
Financial
Equity above €200,000Eq €215,103 ▲14.6%
5 profitable years in a row build equity to €215,103.
2022
29-11
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 29 days late
31-03
Financial
Highest result since 2019net €35,875 ▲108%
Operating result €58,281, net result €35,875, both a record.
2021
30-11
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 30 days late
31-03
Financial
Equity above €150,000Eq €151,857 ▲12.8%
3 profitable years in a row build equity to €151,857.
2020
15-12
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 45 days late
2019
28-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 28 days late
2018
27-12
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 57 days late
2017
31-10
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
27-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 147 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 acts for this company are 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, Gent · 2 establishment units since 2008
Ground area
877 m²
Building footprint
575 m²
Volume, LiDAR
4,276 m³
2 parcels, Flanders · tallest building 15.5 m, ±4 floors. Linked by address, not a title deed.
2 establishment units
AQAB
since 20082.172.021.327
cash express
since 20082.172.555.619
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44362B0288/00Y014 | Flanders | 813 m² | 1 · 511 m² | 7.7 m · 2 fl. |
| 44802B1277/00B000 | Flanders | 64 m² | 1 · 64 m² | 15.5 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.
Recognitions · licences · registrations
Food safety, FASFC
2 sitesGent2.172.021.327
Gent2.172.555.619
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Of 102 companies in sector 46350 we hold annual accounts for 66. 43 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
Founded10-11-2000
Fiscal year end31-03
Activities, NACEBEL 2025
46350Wholesale trade
46360Wholesale trade
47110Non-specialised retail sale with food, beverages or tobacco predominating
E-invoicing
Reachable via Peppol
Peppol ID
0208:0473255674
Registered
30-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.