AQRIO
ActiveSummary
The computed 12-month bankruptcy probability of AQRIO is 1.6% (moderate). The 2025 annual accounts show equity of €149,379 and a net result of €76,698. Equity is growing by ~56.8% per year across the filed fiscal years. Its solvency ranks better than 79% of 1007 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency signals. The CBE does carry 1 administrative register entry (see administrative flags).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+14
Solvency96▲+32
Growth78=
Track record86
Bankruptcy probability, 12 months
1.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days acceptable
Liquidity ample (current ratio 3.4 against 1.64 in 2024; short-term debt: 29.3% and cash: 5.9% of total assets), and 29.3% 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
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 42
Relative position
BE, all sectors
reference
Civil engineering (NACE 42)
about 27% 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
70.7%
Return on assets
36.3%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-08-2026, 21 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 · 5 filingsDeviation from the deadline
2025
21 d late
2024
31 d late
2023
30 d late
2022
31 d late
2021
25 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 28 days after the deadline; the sector median for financial year 2024 is 2 days before the deadline, and 41% of the sector filed late.
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
UBO non-compliance
Checked, nothing found (1)
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. Usually files around 31 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€149,379▲ 106%
2024 · €72,681
Total assets
€211,432▲ 14.4%
2024 · €184,755
Net result
€76,698▲ 194%
2024 · €26,097
Working capital
€148,891▲ 108%
2024 · €71,705
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 42, Civil engineering, 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€2,436-€35,366▲ 1,352%€2,144▼ 93.9%€37,913▲ 1,668%€112,995▲ 198%
Net result€1,905within the sector's middle half-€26,802within the sector's middle half▲ 1,307%€877within the sector's middle half▼ 96.7%€26,097within the sector's middle half▲ 2,875%€76,698above the sector's middle half▲ 194%
Equity€18,905below the sector's middle half-€45,707within the sector's middle half▲ 142%€46,584within the sector's middle half▲ 1.9%€72,681within the sector's middle half▲ 56.0%€149,379above the sector's middle half▲ 106%
Total assets€63,984below the sector's middle half-€67,085below the sector's middle half▲ 4.8%€161,052within the sector's middle half▲ 140%€184,755within the sector's middle half▲ 14.7%€211,432within the sector's middle half▲ 14.4%
Debt€45,079-€21,378▼ 52.6%€114,468▲ 435%€112,074▼ 2.1%€62,053▼ 44.6%
Working capital€18,905within the sector's middle half-€45,707within the sector's middle half▲ 142%€46,584within the sector's middle half▲ 1.9%€71,705within the sector's middle half▲ 53.9%€148,891above the sector's middle half▲ 108%
Solvency29.5%within the sector's middle half-68.1%above the sector's middle half▲ 38.6pp28.9%within the sector's middle half▼ 39.2pp39.3%within the sector's middle half▲ 10.4pp70.7%above the sector's middle half▲ 31.3pp
Current ratio1.42within the sector's middle half-3.14above the sector's middle half▲ 1.721.41within the sector's middle half▼ 1.731.64within the sector's middle half▲ 0.233.40above the sector's middle half▲ 1.76
Return on assets (ROA)3.0%within the sector's middle half-40.0%above the sector's middle half▲ 37.0pp0.5%below the sector's middle half▼ 39.4pp14.1%within the sector's middle half▲ 13.6pp36.3%above the sector's middle half▲ 22.2pp
above
within
below
the middle half (P25 to P75) of NACE 42, Civil engineering, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 198% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €211,432
Fixed assets
€488 ▼ 50.0%
Current assets
€210,944 ▲ 14.8%
Equity and liabilities €211,432
Equity
€149,379 ▲ 106%
Debt
€62,053 ▼ 44.6%
Debt's share of the balance-sheet total falls from 60.7% to 29.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€113,483▲
2024 · €38,401
Cash flow
€77,186▲
2024 · €26,585
Debt to equity
0.42▼
2024 · 1.54
ROE
51.3%▲
2024 · 35.9%
Interest coverage
9.90▼
2024 · 37.26
Debt ≤ 1 year
€62,053▼
2024 · €112,074
Income taxes
€24,834▲
2024 · €10,785
Staff costs
€4,335▲
2024 · €4
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,975 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.6% 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 26,975 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €966 | €845 | €39 | €4 | €4,335 | ▲ 115,182% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,579 | - | €1,250 | €488 | €488 | = |
| Other operating charges640/8 | €1,283 | €637 | €589 | €680 | €2,953 | ▲ 334% |
| Gross operating margin9900 | €7,264 | €36,848 | €4,022 | €39,084 | €120,770 | ▲ 209% |
| Operating profit (loss)9901 | €2,436 | €35,366 | €2,144 | €37,913 | €112,995 | ▲ 198% |
| Financial income75/76B | €0 | €11 | - | €0 | - | - |
| Recurring financial income75 | €0 | €11 | - | €0 | - | - |
| Financial charges65/66B | €52 | €935 | €844 | €1,031 | €11,463 | ▲ 1,012% |
| Recurring financial charges65 | €52 | €935 | €844 | €1,031 | €11,463 | ▲ 1,012% |
| Profit (loss) for the period before taxes9903 | €2,384 | €34,442 | €1,300 | €36,882 | €101,532 | ▲ 175% |
| Income taxes67/77 | €479 | €7,640 | €423 | €10,785 | €24,834 | ▲ 130% |
| Profit (loss) for the period9904 | €1,905 | €26,802 | €877 | €26,097 | €76,698 | ▲ 194% |
| Profit (loss) for the period to be appropriated9905 | €1,905 | €26,802 | €877 | €26,097 | €76,698 | ▲ 194% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €63,984 | €67,085 | €161,052 | €184,755 | €211,432 | ▲ 14.4% |
| Formation expenses20 | - | - | - | €0 | €0 | - |
| Fixed assets21/28 | - | - | - | €976 | €488 | ▼ 50.0% |
| Tangible fixed assets22/27 | - | - | - | €976 | €488 | ▼ 50.0% |
| Plant, machinery and equipment23 | - | - | - | €976 | €488 | ▼ 50.0% |
| Furniture and vehicles24 | - | - | - | €0 | €0 | - |
| Current assets29/58 | €63,984 | €67,085 | €161,052 | €183,779 | €210,944 | ▲ 14.8% |
| Amounts receivable within one year40/41 | €61,291 | €65,143 | €161,040 | €183,751 | €198,401 | ▲ 8.0% |
| Trade receivables40 | €55,481 | €33,087 | €159,013 | €180,492 | €170,324 | ▼ 5.6% |
| Other amounts receivable41 | €5,810 | €32,056 | €2,027 | €3,259 | €28,077 | ▲ 762% |
| Cash at bank and in hand54/58 | €2,693 | €1,942 | €12 | €28 | €12,543 | ▲ 44,634% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €63,984 | €67,085 | €161,052 | €184,755 | €211,432 | ▲ 14.4% |
| Equity10/15 | €18,905 | €45,707 | €46,584 | €72,681 | €149,379 | ▲ 106% |
| Contributions10/11 | €17,000 | €17,000 | €17,000 | €17,000 | €17,000 | = |
| Outside capital11 | €17,000 | - | - | - | - | - |
| Share premium1100/10 | €17,000 | - | - | - | - | - |
| Reserves13 | - | - | - | €25,000 | €50,000 | ▲ 100% |
| Distributable reserves133 | - | - | - | €25,000 | €50,000 | ▲ 100% |
| Profit (loss) carried forward14 | €1,905 | €28,707 | €29,584 | €30,681 | €82,379 | ▲ 169% |
| Amounts payable17/49 | €45,079 | €21,378 | €114,468 | €112,074 | €62,053 | ▼ 44.6% |
| Amounts payable within one year42/48 | €45,079 | €21,378 | €114,468 | €112,074 | €62,053 | ▼ 44.6% |
| Trade debts44 | €38,730 | €13,259 | €60,227 | €90,886 | €25,934 | ▼ 71.5% |
| Suppliers440/4 | €38,730 | €13,259 | €60,227 | €90,886 | €25,934 | ▼ 71.5% |
| Advances received on contracts in progress46 | €5,000 | - | €45,700 | - | - | - |
| Taxes, remuneration and social security45 | €479 | €8,119 | €8,542 | €11,208 | €35,619 | ▲ 218% |
| Taxes450/3 | €479 | €8,119 | €8,542 | €11,208 | €35,619 | ▲ 218% |
| Other amounts payable47/48 | €870 | - | - | €9,980 | €500 | ▼ 95.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,905 | €26,802 | €877 | €26,097 | €76,698 | ▲ 194% |
| + Depreciation and write-downs630 | €2,579 | - | €1,250 | €488 | €488 | = |
| Operating cash flow (approximation) | €4,484 | €26,802 | €2,127 | €26,585 | €77,186 | ▲ 190% |
| Investment in fixed assets (approximation) | - | - | - | - | €0 | - |
| Change in cash | - | -€751 | -€1,930 | €16 | €12,515 | ▲ 78,464% |
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
21-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 21 days late
2025
31-12
Financial
Highest result since 2021net €76,698 ▲194%
Operating result €112,995, net result €76,698, both a record.
31-12
Financial
Liquidity doublescurrent ratio 3.40
Current ratio from 1.64 to 3.40; short-term debt falls from €112,074 to €62,053.
31-12
Financial
Equity above €100,000Eq €149,379 ▲106%
5 profitable years in a row build equity to €149,379.
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
03-09
KBO administration
UBO non-compliance
event 19-08-2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-12
Financial
Weakest financial yearnet €877 ▼96.7%
Net result drops to €877, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Liquidity doublescurrent ratio 3.14
Current ratio from 1.42 to 3.14; short-term debt falls from €45,079 to €21,378.
25-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 25 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Zele · 1 establishment unit since 2020
Ground area
424 m²
Building footprint
259 m²
Volume, LiDAR
1,596 m³
Parcel 42403E0726/00W005, Flanders · tallest building 12.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
AQRIO
since 20202.308.789.347
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42403E0726/00W005 | Flanders | 424 m² | 1 · 259 m² | 12.0 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Recognised contractor
4 categoriesAQRIO BV44276
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Of 1,823 companies in sector 42220 we hold annual accounts for 957. 697 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
Founded26-10-2020
Fiscal year end31-12
Activities, NACEBEL 2025
42220Construction of utility projects for electricity and telecommunications
42211Civil engineering
42212Civil engineering
42219Civil engineering
E-invoicing
Reachable via Peppol
Peppol ID
0208:0757474384
Also
9925:BE0757474384
Registered
03-07-2025
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.