Financials
- Fiscal year
- 2025
- Turnover
- €26.7m
- Loss
- -€9.5m
- Solvency
- -0.9%
Turnover▲ 21.3%
Net result
20182025
Ardena Gent
ActiveSummary
The computed 12-month bankruptcy probability of Ardena Gent is 2.2% (moderate). The 2025 annual accounts show negative equity (-€502,518) and a net result of -€9.5m. Equity remains stable across the filed fiscal years (±2.1% per year). Its solvency ranks better than 12% of 225 sector peers (fiscal year 2025). The company has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals.
Overview
Activity
Other information service activities
NACE 63920NACE 63990Other technical testing and analysis NACE 71209
#1 company by total assets in East Flanders, Computing infrastructure and information services sector1 site
Size
€26.7mturnover 2025
- Staff
- 106.6 FTE
- Equity
- -€502,518
- Loss
- -€9.5m
Structure
- Parent
- Ardena Holding · 100%
- Board
- 4 members
- Holdings
- 3
Auditor: Ernst et Young Reviseurs d'EntreprisesAccounts filed 60 d late
Why 51- Negative equity -€502,518- Loss of €9.5m, the second in a row (FY 2025)- Liquidity: current ratio 0.33, cash €1.6m- Founded in 1994Show the evidence
Checked score
Score 2025
51
/ 100
Fair
Probability in this band: 1.5% to 4.2%
Better than 23% of its sector peers (NACE 63, medium-sized)
Performance against the sector, not lower risk
Financial strength · tick = 2024
Weak
Solvency
24-16
equity -0.9% of total assets
Liquidity
29-23
short-term debt 48.3% · cash 2.7%
Profitability
37-4
return on assets -16.2%
Bankruptcy probability, 12 months
2.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
About 2 in 100 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 0.3%
12-2024: 0.3%● 0.0% vs 11-2024
01-2025: 0.3%● 0.0% vs 12-2024
02-2025: 0.3%▼ -3.7% vs 01-2025lowest value
03-2025: 0.3%▲ +2.3% vs 02-2025
04-2025: 0.3%▲ +3.7% vs 03-2025
05-2025: 0.3%▲ +1.8% vs 04-2025
06-2025: 0.3%▲ +3.2% vs 05-2025
07-2025: 0.3%▲ +12.4% vs 06-2025
08-2025: 0.4%▲ +29.7% vs 07-2025
09-2025: 0.4%● 0.0% vs 08-2025
10-2025: 0.4%▼ -1.2% vs 09-2025
11-2025: 0.4%● 0.0% vs 10-2025
12-2025: 0.4%● 0.0% vs 11-2025
01-2026: 0.4%● 0.0% vs 12-2025
02-2026: 0.4%▼ -3.6% vs 01-2026
03-2026: 0.4%▲ +2.5% vs 02-2026
04-2026: 0.4%● 0.0% vs 03-2026
05-2026: 0.4%▲ +0.5% vs 04-2026
06-2026: 0.4%▲ +2.4% vs 05-2026
07-2026: 0.4%▼ -1.9% vs 06-2026
08-2026: 0.6%▲ +50.0% vs 07-2026
09-2026: 0.8%▲ +31.4% vs 08-2026
10-2026: 2.2%▲ +168% vs 09-2026highest value
- Negative equity -€502,518 raises the probability
- Loss of €9.5m, the second in a row (FY 2025) raises the probability
- Liquidity: current ratio 0.33, cash €1.6m raises the probability
- Founded in 1994 raises the probability for this profile
No credit on open account
Liquidity short (current ratio 0.33 against 1.28 in 2024; short-term debt: 48.3% and cash: 2.7% 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 63, medium-sized). Better than this share of them on solvency 5%, liquidity 30%, profitability 11%, growth against the median 46%. 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.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€502,518
neutral · A punctual record breaks
This company filed 9 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 29-09-2026, 60 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
60 d late
2024
16 d early
2023
120 d early
2022
111 d early
2021
100 d early
2020
100 d early
2019
77 d early
← 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 66 days before the deadline; the sector median for financial year 2024 is 10 days before the deadline, and 32% 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. Usually files around 22 April (4 of the last 5 filed years within 84 days of that day).
Companies Code · seven monthsPosition in the running window
04-10-2026 today31-12-2026 close31-07-2027 deadline
- Annual accounts filedfiscal year 2025 · full…
- Capital & shares · Purpose ·…Declaration · Merger · Real…
- Resignation: Lieven Van Vooren (director)Appointment: Arnout Everaert (director) ·…
Key points
- Risk: Negative equityfiscal year 2025: debts exceed assets -€502,518 View
- Risk: 3 loss-making years in a rowloss fiscal year 2025 -€9.5m View
- Caution: Result fell in 2025from -€1.7m to -€9.5m ▼ 460% View
- Caution: Among the weakest 5% on net resultsector median €36,249 · 225 companies -€9.5m View
- Board changedlatest change 28-07-2026 · 4 in office 1 joined · 2 left View
- Controlled by Ardena Holdingknown shareholders 100% 100% View
- Merger with Pharmatel-Immomerger on 31-08-2026 2026 View
By topic
Board & ownership
- Board
- 4 members
- Parent
- Ardena Holding · 100%
- Known shareholders
- 100%
- Auditor
- Ernst et Young Reviseurs…
Go to Board & ownership
Network & group
- Group
- Ardena Mint BV
- Subsidiaries
- 3
- Mergers and contributions
- 2
3 subsidiaries
Timeline
- Events
- 45
- Since
- 2006
- Next accounts
- by 31-07-2027
- 29-09-2026Annual accounts filed
- 31-08-2026Capital & shares · Purpose · Resignations…
- 28-07-2026Resignation: Lieven Van Vooren (director)
Company details
- Sites
- 1
- Legal form
- Public limited company
- Activity
- Other information service activitiesNACE 63920
- Founded
- 01-12-1994
- Year ends
- 31-12
- Peppol
- Reachable for e-invoices
Articles of association
- Provisions read
- 11
- Purpose
- Het zoeken naar nieuwe producten voor derden; De research en de ontwikkeling in en naar…
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
Your own company? See how customers, suppliers and banks see it and what to improve first.
Investigating this company? Keep it with today's facts in a case file.