ArGo Logistics
ActiveSummary
ArGo Logistics has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €82k and a net result of €17k. Equity is growing by ~13.4% per year across the filed fiscal years. Its solvency ranks better than 76% of 1316 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability86▲+3
Solvency95▼-5
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
1.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5k at 30 days acceptable
Liquidity tight (current ratio 1.48 against 7.96 in 2024; short-term debt: 30.1% and cash: 3.7% of total assets), and 30.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four 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 33
Relative position
BE, all sectors
reference
Repair, maintenance and installation of machinery and equipment (NACE 33)
about 56% 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
69.9%
Return on assets
14.1%
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 14-07-2026, 17 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
17 d early
2024
34 d early
2023
30 d early
2022
11 d early
2021
29 d early
2020
35 d early
2019
28 d early
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€82k▲ 18.7%
2024 · €69k
2019: €23klowest in 7 years
2020: €57k▲ +144% vs 2019
2021: €50k▼ -12.9% vs 2020
2022: €62k▲ +25.0% vs 2021
2023: €60k▼ -2.9% vs 2022
2024: €69k▲ +14.8% vs 2023
2025: €82k▲ +18.7% vs 2024highest in 7 years
2019 → 2025
Total assets
€118k▲ 52.7%
2024 · €77k
2019: €54klowest in 7 years
2020: €87k▲ +61.0% vs 2019
2021: €86k▼ -1.6% vs 2020
2022: €65k▼ -23.9% vs 2021
2023: €70k▲ +7.8% vs 2022
2024: €77k▲ +9.5% vs 2023
2025: €118k▲ +52.7% vs 2024highest in 7 years
2019 → 2025
Net result
€17k▲ 86.7%
2024 · €9k
2019: €13k
2020: €34k▲ +164% vs 2019highest in 7 years
2021: €-7k▼ -122% vs 2020lowest in 7 years
2022: €25k▲ +435% vs 2021
2023: €-2k▼ -107% vs 2022
2024: €9k▲ +589% vs 2023
2025: €17k▲ +86.7% vs 2024
2019 → 2025
Working capital
€17k▼ 69.0%
2024 · €54k
2019: €-21klowest in 7 years
2020: €20k▲ +198% vs 2019
2021: €23k▲ +14.5% vs 2020
2022: €42k▲ +80.4% vs 2021
2023: €45k▲ +8.5% vs 2022
2024: €54k▲ +20.4% vs 2023highest in 7 years
2025: €17k▼ -69.0% vs 2024
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€50k-€62k▲ 25.0%€60k▼ 2.9%€69k▲ 14.8%€82k▲ 18.7%
2021: €50klowest in 5 years
2022: €62k▲ +25.0% vs 2021
2023: €60k▼ -2.9% vs 2022
2024: €69k▲ +14.8% vs 2023
2025: €82k▲ +18.7% vs 2024highest in 5 years
Operating result€-7k-€33k€-2k€13k€24k▲ 87.2%
2021: €-7klowest in 5 years
2022: €33k▲ +550% vs 2021highest in 5 years
2023: €-2k▼ -106% vs 2022
2024: €13k▲ +780% vs 2023
2025: €24k▲ +87.2% vs 2024
Net result€-7k-€25k€-2k€9k€17k▲ 86.7%
2021: €-7klowest in 5 years
2022: €25k▲ +435% vs 2021highest in 5 years
2023: €-2k▼ -107% vs 2022
2024: €9k▲ +589% vs 2023
2025: €17k▲ +86.7% vs 2024
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 87% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €118k
Fixed assets
€65k ▲ 343%
Current assets
€52k ▼ 16.0%
Equity and liabilities €118k
Equity
€82k ▲ 18.7%
Debt
€35k ▲ 353%
Debt's share of the balance-sheet total rises from 10.2% to 30.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€31k▲
2024 · €13k
Cash flow
€23k▲
2024 · €9k
Current ratio
1.48▼
2024 · 7.96
Debt to equity
0.43▲
2024 · 0.11
ROE
20.2%▲
2024 · 12.9%
ROA
14.1%▲
2024 · 11.5%
Interest coverage
267.94▲
2024 · 109.30
Debt ≤ 1 year
€35k▲
2024 · €8k
Income taxes
€7k▲
2024 · €4k
Staff costs
€51k▲
2024 · €48k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 43 lines
Balance sheet
Code20242025
Assets
Total assets20/58€77k€118k▲
Fixed assets21/28€15k€65k▲
Tangible fixed assets22/27€158€51k▲
Furniture and vehicles24€158€51k▲
Financial fixed assets28€15k€14k▼
Current assets29/58€62k€52k▼
Amounts receivable within one year40/41€30k€47k▲
Trade receivables40€18k€43k▲
Other amounts receivable41€12k€3k▼
Cash at bank and in hand54/58€24k€4k▼
Deferred charges and accrued income490/1€9k€1k▼
Equity and liabilities
Total equity and liabilities10/49€77k€118k▲
Equity10/15€69k€82k▲
Reserves13€69k€82k▲
Distributable reserves133€69k€82k▲
Amounts payable17/49€8k€35k▲
Amounts payable within one year42/48€8k€35k▲
Trade debts44€2k€9k▲
Suppliers440/4€2k€9k▲
Taxes, remuneration and social security45€6k€9k▲
Taxes450/3€953€4k▲
Remuneration and social security454/9€5k€5k▼
Other amounts payable47/48-€17k
Income statement
Code20242025
Remuneration, social security and pensions62€48k€51k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€353€7k▲
Other operating charges640/8€3k€4k▲
Gross operating margin9900€64k€86k▲
Operating profit (loss)9901€13k€24k▲
Financial income75/76B€123€2▼
Recurring financial income75€123€2▼
Financial charges65/66B€121€115▼
Recurring financial charges65€121€115▼
Profit (loss) for the period before taxes9903€13k€24k▲
Income taxes67/77€4k€7k▲
Profit (loss) for the period9904€9k€17k▲
Profit (loss) for the period to be appropriated9905€9k€17k▲
Appropriation of the result
Profit (loss) to be appropriated9906€7k€17k▲
Profit (loss) brought forward from the previous period14P€-2k-
Transfer to equity691/2€7k€13k▲
To other reserves6921€7k€13k▲
Profit to be distributed694/7-€4k
Return on contributions (dividend)694-€2k
Directors or managers695-€2k
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €21k | €48k | €51k | ▲ 7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8k | €7k | €353 | €353 | €7k | ▲ 1,809% |
| Other operating charges640/8 | €2k | €2k | €1k | €3k | €4k | ▲ 42.6% |
| Gross operating margin9900 | €2k | €41k | €20k | €64k | €86k | ▲ 35.3% |
| Operating profit (loss)9901 | €-7k | €33k | €-2k | €13k | €24k | ▲ 87.2% |
| Financial income75/76B | €0 | €62 | €158 | €123 | €2 | ▼ 98.4% |
| Recurring financial income75 | €0 | €62 | €158 | €123 | €2 | ▼ 98.4% |
| Financial charges65/66B | €107 | €97 | €88 | €121 | €115 | ▼ 4.9% |
| Recurring financial charges65 | €107 | €97 | €88 | €121 | €115 | ▼ 4.9% |
| Profit (loss) for the period before taxes9903 | €-7k | €33k | €-2k | €13k | €24k | ▲ 86.2% |
| Income taxes67/77 | - | €8k | - | €4k | €7k | ▲ 85.3% |
| Profit (loss) for the period9904 | €-7k | €25k | €-2k | €9k | €17k | ▲ 86.7% |
| Profit (loss) for the period to be appropriated9905 | €-7k | €25k | €-2k | €9k | €17k | ▲ 86.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €86k | €65k | €70k | €77k | €118k | ▲ 52.7% |
| Fixed assets21/28 | €27k | €20k | €15k | €15k | €65k | ▲ 343% |
| Tangible fixed assets22/27 | €7k | €863 | €510 | €158 | €51k | ▲ 32,207% |
| Furniture and vehicles24 | €7k | €863 | €510 | €158 | €51k | ▲ 32,207% |
| Financial fixed assets28 | €20k | €20k | €15k | €15k | €14k | ▼ 1.5% |
| Current assets29/58 | €59k | €45k | €55k | €62k | €52k | ▼ 16.0% |
| Amounts receivable within one year40/41 | €46k | €6k | €30k | €30k | €47k | ▲ 56.5% |
| Trade receivables40 | €45k | €288 | €14k | €18k | €43k | ▲ 145% |
| Other amounts receivable41 | €1k | €5k | €16k | €12k | €3k | ▼ 71.5% |
| Cash at bank and in hand54/58 | €5k | €34k | €17k | €24k | €4k | ▼ 81.7% |
| Deferred charges and accrued income490/1 | €8k | €5k | €9k | €9k | €1k | ▼ 84.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €86k | €65k | €70k | €77k | €118k | ▲ 52.7% |
| Equity10/15 | €50k | €62k | €60k | €69k | €82k | ▲ 18.7% |
| Contributions10/11 | €11k | - | - | - | - | - |
| Reserves13 | €46k | €62k | €62k | €69k | €82k | ▲ 18.7% |
| Distributable reserves133 | €46k | €62k | €62k | €69k | €82k | ▲ 18.7% |
| Profit (loss) carried forward14 | €-7k | - | €-2k | - | - | - |
| Amounts payable17/49 | €36k | €3k | €10k | €8k | €35k | ▲ 353% |
| Amounts payable within one year42/48 | €36k | €3k | €10k | €8k | €35k | ▲ 353% |
| Trade debts44 | €11k | €559 | €9k | €2k | €9k | ▲ 446% |
| Suppliers440/4 | €11k | €559 | €9k | €2k | €9k | ▲ 446% |
| Taxes, remuneration and social security45 | €19k | €930 | €1k | €6k | €9k | ▲ 44.5% |
| Taxes450/3 | €19k | €930 | - | €953 | €4k | ▲ 357% |
| Remuneration and social security454/9 | €658 | - | €1k | €5k | €5k | ▼ 12.5% |
| Other amounts payable47/48 | €6k | €2k | - | - | €17k | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-7k | €25k | €-2k | €9k | €17k | ▲ 86.7% |
| + Depreciation and write-downs630 | €8k | €7k | €353 | €353 | €7k | ▲ 1,809% |
| Operating cash flow (approximation) | €441 | €32k | €-1k | €9k | €23k | ▲ 152% |
| Investment in fixed assets (approximation) | - | €-1k | €5k | €0 | €-57k | - |
| Change in cash | - | €30k | €-18k | €7k | €-20k | ▼ 366% |
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
14-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €9k
Net result €9k after one loss-making year.
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
20-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €25k
Net result €25k after one loss-making year.
31-12
Financial
Liquidity times 9current ratio 14.50
Current ratio from 1.64 to 14.50; short-term debt falls from €36k to €3k.
02-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet €-7k
Net result drops to €-7k, the lowest in the series; recovery starts the following year.
26-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2019net €34k ▲164%
Operating result €46k, net result €34k, both a record.
31-12
Financial
Liquidity times 5current ratio 1.67
Current ratio from 0.33 to 1.67; short-term debt falls from €31k to €30k.
03-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
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 · 1 establishment unit since 2019
Ground area
108 m²
Building footprint
58 m²
Volume, LiDAR
419 m³
Parcel 44810K0326/00T005, Flanders · tallest building 11.4 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
ArGo Logistics
since 20192.285.212.409
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44810K0326/00T005 | Flanders | 108 m² | 1 · 58 m² | 11.4 m · 3 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.
Public money · subsidies and aid
Flemish government
2023 to 2024 · 2 entries · 464 EUR awarded · 464 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2024 | 1 | 149 EUR | 149 EUR |
| 2023 | 1 | 315 EUR | 315 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 3,714 companies in sector 33120 we hold annual accounts for 1,344. 1,111 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
Founded13-02-2019
Fiscal year end31-12
Activities, NACEBEL 2025
33120Repair and maintenance of machinery
49410Freight transport by road
Scores and ratios are computed by Checked and are not a credit decision.