ARGON
ActiveSummary
ARGON has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.6m and a net result of €117,138. Equity is growing by ~8.7% per year across the filed fiscal years. Its solvency ranks better than 47% of 9268 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
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Signals
This company filed its last 7 accounts on average 39 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
History
On 18 December 1989, ARGON was incorporated.1 The registered office moved to Nieuwerkerker in 2007, to Erembodegem in 2013 and to Aalst in 2014.234 A capital increase in 2019 brought the capital to EUR 313,603.5 M.M.B. was merged into the company in 2019.5 Total assets went from EUR 4 million in 2020 to EUR 5.5 million in 2025 and headcount from 2 to 1 full-time equivalents.6
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Financials · fiscal year 2025, abbreviated schema
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Peer companies
Historical observationOf the 3,972 companies that looked in July 2024 the way this one looks now, 1.2% went bankrupt within 24 months and 96% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 3,972 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.
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €73,577 | €97,865 | €114,385 | €83,205 | €69,532 | ▼ 16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €288,270 | €249,411 | €273,433 | €346,639 | €338,248 | ▼ 2.4% |
| Other operating charges640/8 | €16,858 | €22,785 | €21,561 | €26,872 | €27,257 | ▲ 1.4% |
| Gross operating margin9900 | €570,437 | €555,256 | €687,642 | €820,194 | €727,541 | ▼ 11.3% |
| Operating profit (loss)9901 | €191,731 | €185,195 | €278,263 | €363,478 | €292,504 | ▼ 19.5% |
| Financial income75/76B | €89 | €66 | €1,705 | €87 | €1,663 | ▲ 1,821% |
| Recurring financial income75 | €89 | €66 | €1,705 | €87 | €1,663 | ▲ 1,821% |
| Financial charges65/66B | €23,896 | €42,867 | €181,658 | €212,862 | €137,499 | ▼ 35.4% |
| Recurring financial charges65 | €23,896 | €42,867 | €181,658 | €212,862 | €137,499 | ▼ 35.4% |
| Profit (loss) for the period before taxes9903 | €167,925 | €142,394 | €98,310 | €150,703 | €156,668 | ▲ 4.0% |
| Transfer from deferred taxes780 | €3,093 | €2,906 | €2,729 | €2,564 | €2,409 | ▼ 6.1% |
| Income taxes67/77 | €45,966 | €39,391 | €27,605 | €40,620 | €41,939 | ▲ 3.2% |
| Profit (loss) for the period9904 | €125,051 | €105,909 | €73,434 | €112,646 | €117,138 | ▲ 4.0% |
| Transfer from tax-exempt reserves789 | €9,279 | €8,717 | €8,188 | €7,692 | €7,226 | ▼ 6.1% |
| Profit (loss) for the period to be appropriated9905 | €134,330 | €114,625 | €81,623 | €120,339 | €124,364 | ▲ 3.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.9m | €4.5m | €6.0m | €5.9m | €5.5m | ▼ 6.0% |
| Fixed assets21/28 | €3.7m | €4.2m | €5.8m | €5.5m | €5.2m | ▼ 6.1% |
| Tangible fixed assets22/27 | €3.7m | €4.2m | €5.8m | €5.5m | €5.2m | ▼ 6.1% |
| Land and buildings22 | €3.2m | €3.0m | €5.5m | €5.2m | €4.9m | ▼ 5.7% |
| Plant, machinery and equipment23 | €58 | - | - | €17,339 | €15,827 | ▼ 8.7% |
| Furniture and vehicles24 | €152,865 | €103,147 | €288,277 | €270,946 | €233,798 | ▼ 13.7% |
| Assets under construction and advance payments27 | €282,466 | €1.1m | - | - | - | - |
| Financial fixed assets28 | €600 | - | - | - | - | - |
| Current assets29/58 | €212,783 | €262,534 | €261,748 | €361,597 | €349,881 | ▼ 3.2% |
| Amounts receivable within one year40/41 | €212,783 | €253,542 | €261,748 | €361,371 | €346,469 | ▼ 4.1% |
| Trade receivables40 | €208,878 | €199,838 | €240,700 | €361,371 | €308,407 | ▼ 14.7% |
| Other amounts receivable41 | €3,905 | €53,705 | €21,048 | - | €38,061 | - |
| Deferred charges and accrued income490/1 | - | €8,991 | - | €226 | €3,412 | ▲ 1,410% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.9m | €4.5m | €6.0m | €5.9m | €5.5m | ▼ 6.0% |
| Equity10/15 | €1.2m | €1.3m | €1.4m | €1.5m | €1.6m | ▲ 8.0% |
| Contributions10/11 | €313,603 | €313,603 | €313,603 | €313,603 | €313,603 | = |
| Reserves13 | €499,590 | €490,874 | €482,685 | €474,993 | €467,767 | ▼ 1.5% |
| Non-distributable reserves130/1 | €46,888 | €46,888 | €46,888 | €46,888 | €46,888 | = |
| Reserves not available under the articles1311 | €46,888 | €46,888 | €46,888 | €46,888 | €46,888 | = |
| Tax-exempt reserves132 | €192,646 | €183,929 | €175,741 | €168,049 | €160,823 | ▼ 4.3% |
| Distributable reserves133 | €260,056 | €260,056 | €260,056 | €260,056 | €260,056 | = |
| Profit (loss) carried forward14 | €361,749 | €476,374 | €557,997 | €678,335 | €802,700 | ▲ 18.3% |
| Provisions and deferred taxes16 | €47,946 | €45,040 | €42,311 | €39,747 | €37,338 | ▼ 6.1% |
| Deferred taxes168 | €47,946 | €45,040 | €42,311 | €39,747 | €37,338 | ▼ 6.1% |
| Amounts payable17/49 | €2.6m | €3.2m | €4.7m | €4.4m | €3.9m | ▼ 10.6% |
| Amounts payable after more than one year17 | €2.0m | €2.0m | €4.0m | €4.0m | €3.5m | ▼ 12.5% |
| Financial debts170/4 | €2.0m | €2.0m | €4.0m | €4.0m | €3.5m | ▼ 12.5% |
| Amounts payable within one year42/48 | €649,694 | €1.2m | €651,857 | €367,877 | €403,184 | ▲ 9.6% |
| Trade debts44 | €25,750 | €257,927 | €32,963 | €49,721 | €44,838 | ▼ 9.8% |
| Suppliers440/4 | €25,750 | €257,927 | €32,963 | €49,721 | €44,838 | ▼ 9.8% |
| Taxes, remuneration and social security45 | €10,601 | €7,970 | €47,891 | €63,057 | €57,172 | ▼ 9.3% |
| Taxes450/3 | €797 | €1,728 | €38,586 | €60,782 | €52,783 | ▼ 13.2% |
| Remuneration and social security454/9 | €9,804 | €6,241 | €9,305 | €2,275 | €4,389 | ▲ 92.9% |
| Other amounts payable47/48 | €613,343 | €916,926 | €571,002 | €255,099 | €301,173 | ▲ 18.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €125,051 | €105,909 | €73,434 | €112,646 | €117,138 | ▲ 4.0% |
| + Depreciation and write-downs630 | €288,270 | €249,411 | €273,433 | €346,639 | €338,248 | ▼ 2.4% |
| Operating cash flow (approximation) | €413,321 | €355,320 | €346,867 | €459,286 | €455,386 | ▼ 0.8% |
| Investment in fixed assets (approximation) | - | -€835,793 | -€1.8m | -€72,894 | €0 | ▲ 100% |
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
20-07
State Gazette act
Reappointment: KPMG Bedrijfsrevisoren BV (statutory auditor)Permanent representative: Filip De Bock3 facts ▸
- General meeting, 05-06-2026
- Auditor reappointment, KPMG Bedrijfsrevisoren BV
- Permanent representative, Filip De Bock
16-12
State Gazette act
Capital & sharesStatutes amendment · Power of attorney · Mandate term8 facts ▸
- Board meeting, 20-11-2025
- Statutes amendment
- Power of attorney, Jonas Stevens
- Power of attorney, Emma Lermyte
- Power of attorney, Kassandra Crame
- Mandate term, 3 maanden
- Mandate term, 3 maanden
- Mandate term, 3 maanden
16-10
State Gazette act
Permanent representatives: Joke Reynaert and Wim NaessensPower of attorney6 facts ▸
- Board meeting, 06-07-2023
- Power of attorney, HRInHouse CommV
- Permanent representative, Joke Reynaert
- Power of attorney, 3 Advice BV
- Permanent representative, Wim Naessens
- Power of attorney, Van Ongeval Consulting BV
27-07
State Gazette act
Reappointment: KPMG Bedrijfsrevisoren BV (statutory auditor)Permanent representative: Filip De Bock3 facts ▸
- General meeting, 02-06-2023
- Auditor reappointment, KPMG Bedrijfsrevisoren BV (statutory auditor)
- Permanent representative, Filip De Bock (company auditor)
24-09
State Gazette act
Permanent representatives: Wim Naessens and Joke ReynaertPower of attorney5 facts ▸
- Board meeting, 01-09-2021
- Power of attorney, 3 Advice BV
- Permanent representative, Wim Naessens
- Power of attorney, HRInHouse CommV
- Permanent representative, Joke Reynaert
Show earlier events
26-08
State Gazette act
Resignation: Ernst & Young bedrijfsrevisoren (statutory auditor)Appointment: KPMG Bedrijfsrevisoren CVBA (statutory auditor) · Permanent representative: Filip De Bock4 facts ▸
- General meeting, 26-06-2020
- Director resignation, Ernst & Young bedrijfsrevisoren (statutory auditor)
- Director appointment, KPMG Bedrijfsrevisoren CVBA (statutory auditor)
- Permanent representative, Filip De Bock
20-11
State Gazette act
RestructuringMerger · Capital increase · Share issue13 facts ▸
- General meeting, 24-10-2019
- Merger, absorption, 31-12-2018
- Capital increase, €75.000
- Share issue, new shares, 13985
- Share transfer, M.M.B. → Immowel!
- Share transfer, M.M.B. → VPK Packaging Group
- Net-asset statement, 31-12-2018
- Accounting effect, 01-01-2019
- Statutes amendment
- Statutes amendment
- Power of attorney, AD-Ministerie BVBA
- Power of attorney, ARGON
- +1 further facts in this act
20-09
State Gazette act
RestructuringMerger · Capital · Share issue14 facts ▸
- Merger, 03/09/2019
- Capital, €75.000
- Capital, €238.603,02
- Share issue, 13985, vergoeding fusie
- Accounting effect, 01/01/2019
- Real estate, Kareelstraat, sectie B, nummer 0061/00L003, Aalst
- Real estate, Kareelstraat +108, sectie B, nummer 0061/00M003, Aalst
- Valuation, 31/12/2018
- Valuation, 31/12/2018
- Exchange ratio, aandelen ARGON voor ieder aandeel M.M.B.
- Cash premium, geen opleg in geld
- Profit participation, zelfde recht op deelname in de winst als bestaande aandelen vanaf 1 januari 2019
- +2 further facts in this act
13-09
State Gazette act
Reappointment: Ernst & Young Bedrijfsrevisoren BV CVBA (statutory auditor)2 facts ▸
- General meeting, 14-03-2019
- Auditor reappointment, Ernst & Young Bedrijfsrevisoren BV CVBA
25-10
State Gazette act
Resignation: Uni-Par (zaakvoerder en voorzitter van het college van zaakvoerders)Appointment: Pierre Macharis (manager) · Director discharge · Mandate compensation5 facts ▸
- General meeting, 30-08-2018
- Director resignation, Uni-Par (zaakvoerder en voorzitter van het college van zaakvoerders)
- Director discharge, Uni-Par
- Director appointment, Pierre Macharis (manager)
- Mandate compensation, Pierre Macharis
25-11
State Gazette act
Appointment: Ernst & Young Bedrijfsrevisoren BV CVBA (statutory auditor)2 facts ▸
- General meeting, 10-03-2016
- Auditor appointment, Ernst & Young Bedrijfsrevisoren BV CVBA (statutory auditor)
03-10
State Gazette act
Appointment: Ernst & Young Lippens & Rabaey Audit BV CVBA (statutory auditor)Court decision · Registered-office move4 facts ▸
- General meeting, 13-03-2014
- Auditor appointment, Ernst & Young Lippens & Rabaey Audit BV CVBA (statutory auditor)
- Court decision, 24-06-2014
- Registered-office move, Kareelstraat 108 te 9300 Aalst
06-05
State Gazette act
Resignations: Frédéric Camu (manager) and Sarah Camu (manager)Appointments: Uni-Par NV (manager) and FinCoPro BVBA (manager) · Permanent representatives: Pierre Macharis and Erik Peeters · Registered-office move8 facts ▸
- General meeting, 18-04-2013
- Director resignation, Frédéric Camu (manager)
- Director resignation, Sarah Camu (manager)
- Director appointment, Uni-Par NV (manager)
- Director appointment, FinCoPro BVBA (manager)
- Permanent representative, Pierre Macharis
- Permanent representative, Erik Peeters
- Registered-office move, Villalaan 16, 9320 Erembodegem
17-04
State Gazette act
Resignation: CAMU Frédéric (statutory manager)Appointment: CAMU Frédéric (non-statutory manager) · Statutes amendment · Approval12 facts ▸
- General meeting, 14-03-2013
- Statutes amendment
- Approval, Jaarrekening 2012
- Director discharge, CAMU Frédéric
- Director resignation, CAMU Frédéric (statutory manager)
- Director appointment, CAMU Frédéric (non-statutory manager)
- Capital decrease, €220.000
- Real estate, Appartement met garage en parkeerplaats
- In kind distribution, Appartement met garage en parkeerplaats, Maaldreef 53, Nieuwerkerken (Aalst), opschortende voorwaarde (2 maanden na publicatie)
- In kind distribution, Appartement met garage en parkeerplaats, Maaldreef 53, Nieuwerkerken (Aalst), opschortende voorwaarde (2 maanden na publicatie)
- Statutes amendment
- Power of attorney, CAMU Frédéric
24-04
State Gazette act
Appointments: CAMU Frédéric, CAMU Sarah and VAN MOL GodelieveResignations: CAMU Frédéric, CAMU Alec and CAMU Sarah · Capital · Legal-form conversion13 facts ▸
- General meeting, 28-03-2012
- Capital, €458.603,02
- Legal-form conversion, besloten vennootschap met beperkte aansprakelijkheid
- Director appointment, CAMU Frédéric (statutory manager)
- Director resignation, CAMU Frédéric (bestuurder en/of gedelegeerd bestuurder)
- Director discharge, CAMU Frédéric
- Director resignation, CAMU Alec (bestuurder en/of gedelegeerd bestuurder)
- Director discharge, CAMU Alec
- Director resignation, CAMU Sarah (bestuurder en/of gedelegeerd bestuurder)
- Director discharge, CAMU Sarah
- Director appointment, CAMU Sarah (non-statutory manager)
- Mandate compensation, CAMU Sarah
- +1 further facts in this act
31-01
State Gazette act
Capital & shares · Statutes amendmentPower of attorney2 facts ▸
- Statutes amendment
- Power of attorney, raad van bestuur
30-06
State Gazette act
Reappointment: Camu Frederic (director)Resignation: Camu Joëlle (director) · Appointment: Camu Frederic (chair of the board) · Director discharge5 facts ▸
- General meeting, 06-05-2008
- Director reappointment, Camu Frederic (director)
- Director resignation, Camu Joëlle (director)
- Director discharge, Camu Joëlle
- Director appointment, Camu Frederic (chair of the board)
24-07
State Gazette act
Resignation: Cornelis Alida (director)Appointments: Camu Alec (director) and Camu Sarah (director) · Registered-office move5 facts ▸
- General meeting, 02-05-2007
- Director resignation, Cornelis Alida (director)
- Director appointment, Camu Alec (director)
- Director appointment, Camu Sarah (director)
- Registered-office move, Bergstraat 30 9320 Nieuwerkerker
Directors · office · real estate
Board 3
Permanent representatives 1
Statutory auditor 1
1 establishment unit
1 parcel
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41002B0061/00D003 | Flanders | 4,491 m² | 1 · 835 m² | 5.3 m |
Linked by address, not proof of ownership
Mandate history
- Board
- Day-to-day management
- Statutory auditor
- not recently confirmed
- began earlier
| Name | Functions and periods |
|---|---|
| KPMG Bedrijfsrevisoren BV |
|
| VAN MOL Godelieve |
|
| FinCoPro |
|
| Pierre Macharis |
|
| Ernst & Young Bedrijfsrevisoren BV CVBA |
|
| UNI-PAR |
|
| Ernst & Young, Lippens & Rabaey Audit BV CVBA |
|
| CAMU Frédéric |
|
| Sarah Camu |
|
| Camu Alec |
|
| Camu Joëlle |
|
| Cornelis Alida |
|
Articles of association
Full purpose
De vennootschap heeft tot doel haar vermogen gevormd door opbrengsten en aanwassen en bestaande roerende en onroerende goederen, te behouden, te beheren, oordeelkundig uit te breiden en eventueel op optimale momenten, of wanneer gebiedende omstandigheden haar daartoe dwingen, te realiseren. Binnen het kader van haar doel zal de vennootschap mogen overgaan tot het aankopen, uitrusten valoriseren, bouwen, verhuren of in huur nemen van onroerende goederen, al dan niet bemeubeld. De vennootschap zal eveneens alle roerende goederen kunnen aan- en verkopen en er de opbrengsten van ontvangen, meer bepaald zal zij kunnen investeren in alle soorten waardepapieren en beleggingsprojecten, die op de nationale en internationale markten verhandeld worden, zoals aandelen, obligaties, kasbons, opties, termijncontracten, warrants en andere beschikbare instrumenten; zij zal hierbij zelfs ongedekte posities kunnen innemen in verschillende deviezen. De vennootschap mag alle roerende en onroerende goederen, materialen, en benodigdheden, verwerven, huren en verhuren, vervaardigen, overdragen en ruilen en, in het algemeen, alle industriële, commerciële of financiële handelingen verrichten welke rechtstreeks of onrechtstreeks in verband staan met haar doel, met inbegrip van de onderaanneming in het algemeen, en de uitbating van alle intellectuele rechten en industriële of commerciële eigendommen die erop betrekking hebben. Zij mag alle roerende en onroerende goederen als investering verwerven, zelfs als deze noch rechtstreeks noch onrechtstreeks verband houden met het doel van de vennootschap. De vennootschap mag het bestuur waarnemen, toezicht houden en controle uitoefenen en management waarnemen over vennootschappen, en mag alle leningen, van gelijk welke vorm en voor gelijk welke duur, aan deze laatste toestaan. Zij mag bij wijze van inbreng in speciën of in natura, van fusie, inschrijving, deelneming, financiële tussenkomst of op een andere wijze een aandeel nemen in alle bestaande of op te richten vennootschappen, of bedrijven, in België of in het buitenland, welke van aard is de uitoefening van haar doel te bevorderen. Deze lijst is exemplatief en niet beperkend. De zaakvoerder(s) is/zijn bevoegd in deze de draagwijdte en de aard van het doel van de vennootschap te interpreteren.
Structure & network
Owners and holdings
1 ownerChain of control
- VPK Group
- ARGON
Highest known parent: VPK Group. The sources do not say who stands above it.
Owners 1
- VPK Groupparent100%
Holdings 0
The accounts to 31-12-2025 list no holdings, and no other source names one.
According to the 2025 annual accounts of ARGON and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
7 connected companiesShow 3 more companies with a shared director
Acquisitions and mergers
1 transactionCapital and shareholders
- M.M.B. to Immowel! 13,845 shares
- M.M.B. to VPK Packaging Group 140 shares
The Belgian State Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 20-11-2019 Capital increase of 75,000 EUR · to 313,603.02 EUR · 13,985 new shares
- 20-09-2019 Capital stated in the act · 238,603.02 EUR · 1,850 shares
- 17-04-2013 Capital reduction of 220,000 EUR · to 238,603.02 EUR · in natura
- 24-04-2012 Capital stated in the act · 458,603.02 EUR · 1,850 shares
Similar companies · same sector, comparable size
Identification & contact
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.