ARGO
ActiveSummary
ARGO has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €200,248 and a net result of €25,645. Equity is growing by ~5.9% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability77▼-1
Solvency75▲+6
Growth78=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13,000 at 30 days acceptable
Liquidity short (current ratio 0.48 against 0.29 in 2024; short-term debt: 15.6% and cash: 3.1% of total assets), and 49.9% of the assets are financed with debt.
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Signals
Five 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
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
50.1%
Return on assets
6.4%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 04-06-2026, 57 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
57 d early
2024
64 d early
2023
61 d late
2022
46 d early
2021
58 d early
2020
141 d early
2019
49 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 37 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were 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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€200,248▲ 14.7%
2024 · €174,604
Total assets
€399,581▲ 1.0%
2024 · €395,683
Net result
€25,645▼ 16.2%
2024 · €30,615
Working capital
-€32,677▲ 9.6%
2024 · -€36,163
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€1,256€26,324▲ 1,996%€34,724▲ 31.9%€47,755▲ 37.5%€40,183▼ 15.9%
Net result€3,549▲ 21.8%€19,652▲ 454%€23,431▲ 19.2%€30,615▲ 30.7%€25,645▼ 16.2%
Equity€100,906▼ 31.5%€120,558▲ 19.5%€143,989▲ 19.4%€174,604▲ 21.3%€200,248▲ 14.7%
Total assets€338,777▼ 17.0%€416,986▲ 23.1%€400,366▼ 4.0%€395,683▼ 1.2%€399,581▲ 1.0%
Debt€237,871▼ 8.8%€296,428▲ 24.6%€256,377▼ 13.5%€221,080▼ 13.8%€199,333▼ 9.8%
Working capital€91,775▼ 35.7%-€26,199-€39,099▼ 49.2%-€36,163▲ 7.5%-€32,677▲ 9.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 16% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €399,581
Fixed assets
€369,913 ▼ 2.9%
Current assets
€29,668 ▲ 104%
Equity and liabilities €399,581
Equity
€200,248 ▲ 14.7%
Debt
€199,333 ▼ 9.8%
Debt's share of the balance-sheet total falls from 55.9% to 49.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€51,415▼
2024 · €58,947
Cash flow
€36,877▼
2024 · €41,806
Current ratio
0.48▲
2024 · 0.29
Debt to equity
1.00▼
2024 · 1.27
ROE
12.8%▼
2024 · 17.5%
ROA
6.4%▼
2024 · 7.7%
Interest coverage
10.49▼
2024 · 12.65
Debt ≤ 1 year
€62,345▲
2024 · €50,702
Debt > 1 year
€134,945▼
2024 · €167,764
Income taxes
€12,877▼
2024 · €15,675
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €19,355 | €15,242 | €13,557 | €11,192 | €11,232 | ▲ 0.4% |
| Other operating charges640/8 | €4,491 | €4,592 | €5,036 | €5,252 | €5,392 | ▲ 2.7% |
| Gross operating margin9900 | €25,101 | €46,158 | €53,317 | €64,198 | €56,807 | ▼ 11.5% |
| Operating profit (loss)9901 | €1,256 | €26,324 | €34,724 | €47,755 | €40,183 | ▼ 15.9% |
| Financial income75/76B | €5,639 | €2,699 | €3,145 | €3,193 | €3,241 | ▲ 1.5% |
| Recurring financial income75 | €5,639 | €2,699 | €3,145 | €3,193 | €3,241 | ▲ 1.5% |
| Financial charges65/66B | €2,430 | €2,217 | €2,602 | €4,658 | €4,901 | ▲ 5.2% |
| Recurring financial charges65 | €2,430 | €2,217 | €2,602 | €4,658 | €4,901 | ▲ 5.2% |
| Profit (loss) for the period before taxes9903 | €4,465 | €26,806 | €35,267 | €46,289 | €38,522 | ▼ 16.8% |
| Income taxes67/77 | €916 | €7,154 | €11,836 | €15,675 | €12,877 | ▼ 17.8% |
| Profit (loss) for the period9904 | €3,549 | €19,652 | €23,431 | €30,615 | €25,645 | ▼ 16.2% |
| Profit (loss) for the period to be appropriated9905 | €3,549 | €19,652 | €23,431 | €30,615 | €25,645 | ▼ 16.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €338,777 | €416,986 | €400,366 | €395,683 | €399,581 | ▲ 1.0% |
| Fixed assets21/28 | €211,226 | €402,984 | €390,791 | €381,145 | €369,913 | ▼ 2.9% |
| Tangible fixed assets22/27 | €210,516 | €195,273 | €183,081 | €173,435 | €162,203 | ▼ 6.5% |
| Land and buildings22 | €209,915 | €194,905 | €182,945 | €172,022 | €161,098 | ▼ 6.3% |
| Plant, machinery and equipment23 | - | - | - | €1,413 | €1,104 | ▼ 21.9% |
| Furniture and vehicles24 | €601 | €368 | €136 | - | - | - |
| Financial fixed assets28 | €710 | €207,710 | €207,710 | €207,710 | €207,710 | = |
| Current assets29/58 | €127,551 | €14,002 | €9,575 | €14,538 | €29,668 | ▲ 104% |
| Amounts receivable within one year40/41 | €121,687 | €2,698 | €5,844 | €9,036 | €14,515 | ▲ 60.6% |
| Trade receivables40 | - | - | - | - | €1,138 | - |
| Other amounts receivable41 | €121,687 | €2,698 | €5,844 | €9,036 | €13,377 | ▲ 48.0% |
| Cash at bank and in hand54/58 | €79 | €3,699 | €1,522 | €101 | €12,534 | ▲ 12,287% |
| Deferred charges and accrued income490/1 | €5,785 | €7,605 | €2,210 | €5,401 | €2,619 | ▼ 51.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €338,777 | €416,986 | €400,366 | €395,683 | €399,581 | ▲ 1.0% |
| Equity10/15 | €100,906 | €120,558 | €143,989 | €174,604 | €200,248 | ▲ 14.7% |
| Contributions10/11 | €18,171 | €18,171 | €18,171 | €18,171 | €18,171 | = |
| Outside capital11 | €18,171 | €18,171 | €18,171 | €18,171 | €18,171 | = |
| Other1109/19 | €18,171 | €18,171 | €18,171 | €18,171 | €18,171 | = |
| Reserves13 | - | - | €23,431 | €54,046 | €79,690 | ▲ 47.4% |
| Distributable reserves133 | - | - | €23,431 | €54,046 | €79,690 | ▲ 47.4% |
| Profit (loss) carried forward14 | €82,735 | €102,387 | €102,387 | €102,387 | €102,387 | = |
| Amounts payable17/49 | €237,871 | €296,428 | €256,377 | €221,080 | €199,333 | ▼ 9.8% |
| Amounts payable after more than one year17 | €202,095 | €255,738 | €205,160 | €167,764 | €134,945 | ▼ 19.6% |
| Financial debts170/4 | €202,095 | €179,259 | €156,260 | €133,096 | €111,770 | ▼ 16.0% |
| Other amounts payable178/9 | - | €76,479 | €48,900 | €34,668 | €23,175 | ▼ 33.2% |
| Amounts payable within one year42/48 | €35,776 | €40,201 | €48,674 | €50,702 | €62,345 | ▲ 23.0% |
| Current portion of amounts payable after more than one year42 | €22,674 | €22,836 | €22,999 | €23,164 | €22,034 | ▼ 4.9% |
| Trade debts44 | €4,807 | €3,611 | €1,875 | €4,764 | €4,659 | ▼ 2.2% |
| Suppliers440/4 | €4,807 | €3,611 | €1,875 | €4,764 | €4,659 | ▼ 2.2% |
| Taxes, remuneration and social security45 | €1,694 | €7,154 | €17,200 | €15,675 | €28,552 | ▲ 82.2% |
| Taxes450/3 | €1,694 | €7,154 | €17,200 | €15,675 | €28,552 | ▲ 82.2% |
| Other amounts payable47/48 | €6,600 | €6,600 | €6,600 | €7,100 | €7,100 | = |
| Accrued charges and deferred income492/3 | - | €489 | €2,544 | €2,614 | €2,043 | ▼ 21.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,549 | €19,652 | €23,431 | €30,615 | €25,645 | ▼ 16.2% |
| + Depreciation and write-downs630 | €19,355 | €15,242 | €13,557 | €11,192 | €11,232 | ▲ 0.4% |
| Operating cash flow (approximation) | €22,903 | €34,894 | €36,989 | €41,806 | €36,877 | ▼ 11.8% |
| Investment in fixed assets (approximation) | - | -€207,000 | -€1,365 | -€1,546 | €0 | ▲ 100% |
| Change in cash | - | €3,620 | -€2,177 | -€1,421 | €12,433 | ▲ 975% |
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
04-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Equity above €200,000Eq €200,248 ▲14.7%
8 profitable years in a row build equity to €200,248.
28-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €30,615 ▲30.7%
Operating result €47,755, net result €30,615, both a record.
31-12
Financial
Equity above €150,000Eq €174,604 ▲21.3%
7 profitable years in a row build equity to €174,604.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
15-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
03-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
12-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Weakest financial yearnet €2,915 ▼79.2%
Net result drops to €2,915, the lowest in the series; recovery starts the following year.
18-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 49 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
28-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 59 days late
2017
14-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Ukkel · 1 establishment unit since 1998
Ground area
395 m²
Building footprint
173 m²
Volume, LiDAR
1,944 m³
2 parcels, Brussels · tallest building 16.9 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
LA MAISON SLAVIANSKY
since 19982.077.387.632
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21612D0176/00F002 | Brussels | 275 m² | 1 · 53 m² | 11.2 m · 3 fl. |
| 21614E0037/00B004 | Brussels | 120 m² | 1 · 120 m² | 16.9 m · 5 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.
Identification & contact
Identification
Legal formPrivate limited company
Founded30-04-1996
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0457902851
Registered
14-01-2026
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.