ARGU
ActiveSummary
ARGU has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€83,034) and a net result of -€35,234. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 21% of 18537 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability17=
Solvency22▼-1
Growth32▼-20
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 2.33 against 5.35 in 2024; short-term debt: 12.8% and cash: 0.6% of total assets), but equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-3%
Return on assets
-1.3%
Age of the figures
9 mo
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 -€83,034
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 03-07-2026, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
28 d early
2024
31 d early
2023
40 d early
2022
25 d early
2021
25 d early
2020
37 d early
2019
28 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 31 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€83,034▼ 73.7%
2024 · -€47,800
Total assets
€2.8m▲ 7.3%
2024 · €2.6m
Net result
-€35,234▼ 3.5%
2024 · -€34,041
Working capital
€474,923▼ 14.8%
2024 · €557,583
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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-€18,268€35,799-€49,577-€30,313▲ 38.9%-€34,100▼ 12.5%
Net result-€10,781below the sector's middle half€186,015above the sector's middle half-€52,825below the sector's middle half-€34,041below the sector's middle half▲ 35.6%-€35,234below the sector's middle half▼ 3.5%
Equity-€146,948below the sector's middle half▼ 7.9%€39,067within the sector's middle half-€13,758below the sector's middle half-€47,800below the sector's middle half▼ 247%-€83,034below the sector's middle half▼ 73.7%
Total assets€3.2mabove the sector's middle half▲ 3.8%€2.6mabove the sector's middle half▼ 19.3%€2.6mabove the sector's middle half▲ 1.7%€2.6mabove the sector's middle half▼ 0.6%€2.8mabove the sector's middle half▲ 7.3%
Debt€3.3m▲ 3.9%€2.5m▼ 24.0%€2.6m▲ 3.8%€2.7m▲ 0.7%€2.9m▲ 8.5%
Working capital€1.0m▲ 0.1%€391,636▼ 60.9%€584,226▲ 49.2%€557,583▼ 4.6%€474,923▼ 14.8%
Solvency-4.6%below the sector's middle half▼ 0.2pp1.5%below the sector's middle half▲ 6.1pp-0.5%below the sector's middle half▼ 2.0pp-1.8%below the sector's middle half▼ 1.3pp-3.0%below the sector's middle half▼ 1.1pp
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, 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
The operating result stays negative: a loss of €34,100 in 2025 against €30,313 in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.8m
Fixed assets
€2.0m ▲ 2.3%
Current assets
€832,817 ▲ 21.4%
Key figures and ratios
EBITDA
-€16,435▼
2024 · -€12,647
Cash flow
-€17,569▼
2024 · -€16,376
Current ratio
2.33▼
2024 · 5.35
Debt to equity
-34.79▲
2024 · -55.69
ROA
-1.3%▲
2024 · -1.3%
Interest coverage
-19.16▼
2024 · -6.58
Debt ≤ 1 year
€357,894▲
2024 · €128,284
Debt > 1 year
€2.5m▼
2024 · €2.5m
Income taxes
€277▼
2024 · €1,805
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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €3,823 | €3,000 | - | €10,000 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16,126 | €18,376 | €18,027 | €17,666 | €17,666 | = |
| Other operating charges640/8 | €1,834 | €1,543 | €1,289 | €2,119 | €1,994 | ▼ 5.9% |
| Gross operating margin9900 | -€309 | €55,718 | -€30,262 | -€10,528 | -€14,441 | ▼ 37.2% |
| Operating profit (loss)9901 | -€18,268 | €35,799 | -€49,577 | -€30,313 | -€34,100 | ▼ 12.5% |
| Financial income75/76B | €11,960 | €180,157 | €0 | €0 | €2 | - |
| Recurring financial income75 | €11,960 | €180,157 | €0 | €0 | €2 | - |
| Financial charges65/66B | €4,106 | €29,598 | €2,927 | €1,923 | €858 | ▼ 55.4% |
| Recurring financial charges65 | €4,106 | €29,598 | €2,927 | €1,923 | €858 | ▼ 55.4% |
| Profit (loss) for the period before taxes9903 | -€10,414 | €186,357 | -€52,504 | -€32,236 | -€34,957 | ▼ 8.4% |
| Income taxes67/77 | €367 | €342 | €321 | €1,805 | €277 | ▼ 84.6% |
| Profit (loss) for the period9904 | -€10,781 | €186,015 | -€52,825 | -€34,041 | -€35,234 | ▼ 3.5% |
| Profit (loss) for the period to be appropriated9905 | -€10,781 | €186,015 | -€52,825 | -€34,041 | -€35,234 | ▼ 3.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.2m | €2.6m | €2.6m | €2.6m | €2.8m | ▲ 7.3% |
| Fixed assets21/28 | €2.0m | €2.0m | €1.9m | €1.9m | €2.0m | ▲ 2.3% |
| Tangible fixed assets22/27 | €89,934 | €75,248 | €57,221 | €39,556 | €21,890 | ▼ 44.7% |
| Plant, machinery and equipment23 | €723 | €361 | - | - | - | - |
| Furniture and vehicles24 | €73,212 | €58,887 | €41,221 | €23,556 | €5,890 | ▼ 75.0% |
| Other tangible fixed assets26 | €16,000 | €16,000 | €16,000 | €16,000 | €16,000 | = |
| Financial fixed assets28 | €1.9m | €1.9m | €1.9m | €1.9m | €2.0m | ▲ 3.3% |
| Current assets29/58 | €1.2m | €621,553 | €684,707 | €685,867 | €832,817 | ▲ 21.4% |
| Amounts receivable within one year40/41 | €1.1m | €464,314 | €668,682 | €674,910 | €816,941 | ▲ 21.0% |
| Trade receivables40 | €16,026 | €114,633 | €114,633 | €7,100 | €7,100 | = |
| Other amounts receivable41 | €1.1m | €349,681 | €554,050 | €667,810 | €809,841 | ▲ 21.3% |
| Cash at bank and in hand54/58 | €136,050 | €157,239 | €16,025 | €10,957 | €15,875 | ▲ 44.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.2m | €2.6m | €2.6m | €2.6m | €2.8m | ▲ 7.3% |
| Equity10/15 | -€146,948 | €39,067 | -€13,758 | -€47,800 | -€83,034 | ▼ 73.7% |
| Contributions10/11 | €124,000 | €124,000 | €124,000 | €124,000 | €124,000 | = |
| Profit (loss) carried forward14 | -€270,948 | -€84,933 | -€137,758 | -€171,800 | -€207,034 | ▼ 20.5% |
| Amounts payable17/49 | €3.3m | €2.5m | €2.6m | €2.7m | €2.9m | ▲ 8.5% |
| Amounts payable after more than one year17 | €3.1m | €2.3m | €2.5m | €2.5m | €2.5m | ▼ 0.1% |
| Financial debts170/4 | €32,931 | €22,971 | €12,858 | €2,591 | €0 | ▼ 100% |
| Other amounts payable178/9 | €3.1m | €2.3m | €2.5m | €2.5m | €2.5m | = |
| Amounts payable within one year42/48 | €222,488 | €229,917 | €100,481 | €128,284 | €357,894 | ▲ 179% |
| Current portion of amounts payable after more than one year42 | €9,810 | €9,960 | €10,112 | €10,267 | €2,591 | ▼ 74.8% |
| Financial debts43 | €125,000 | €125,000 | - | - | - | - |
| Credit institutions430/8 | €125,000 | €125,000 | - | - | - | - |
| Trade debts44 | €1,987 | €2,086 | €3,121 | €1,391 | €411 | ▼ 70.5% |
| Suppliers440/4 | €1,987 | €2,086 | €3,121 | €1,391 | €411 | ▼ 70.5% |
| Taxes, remuneration and social security45 | €367 | €342 | €2,387 | €5,101 | €277 | ▼ 94.6% |
| Taxes450/3 | €367 | €342 | €2,387 | €5,101 | €277 | ▼ 94.6% |
| Other amounts payable47/48 | €85,324 | €92,529 | €84,862 | €111,525 | €354,614 | ▲ 218% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€10,781 | €186,015 | -€52,825 | -€34,041 | -€35,234 | ▼ 3.5% |
| + Depreciation and write-downs630 | €16,126 | €18,376 | €18,027 | €17,666 | €17,666 | = |
| Operating cash flow (approximation) | €5,344 | €204,391 | -€34,798 | -€16,376 | -€17,569 | ▼ 7.3% |
| Investment in fixed assets (approximation) | - | -€3,690 | €0 | €0 | -€62,500 | - |
| Change in cash | - | €21,190 | -€141,214 | -€5,068 | €4,918 | ▲ 197% |
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
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
21-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Liquidity triplescurrent ratio 6.81
Current ratio from 2.70 to 6.81; short-term debt falls from €229,917 to €100,481.
06-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €186,015
Net result €186,015 after one loss-making year.
06-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
24-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Back to profitnet €3,397
Net result €3,397 after 2 loss-making years.
03-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Weakest financial yearnet -€63,074
Net result drops to -€63,074, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity quadruplescurrent ratio 5.07
Current ratio from 1.22 to 5.07.
Show earlier events
18-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
16-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 16 days late
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, Brecht · 1 establishment unit since 2003
Ground area
2,612 m²
Building footprint
452 m²
Volume, LiDAR
3,156 m³
Parcel 11042B0004/00C002, Flanders · tallest building 13.8 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Argu
since 20032.132.922.607
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11042B0004/00C002 | Flanders | 2,612 m² | 1 · 452 m² | 13.8 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.
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Of 1,314 companies in sector 47639 we hold annual accounts for 624. 472 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
Founded28-08-2003
Fiscal year end31-12
Activities, NACEBEL 2025
47639Retail sale of other sporting goods
46496Wholesale trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0860265086
Also
9925:BE0860265086
Registered
30-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.