ARGUM
ActiveSummary
ARGUM has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €109,394 and a net result of €33,720. Equity is growing by ~30.7% per year across the filed fiscal years. Its solvency ranks better than 95% of 289 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100▲+2
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days acceptable
Liquidity ample (current ratio 43.97 against 5.75 in 2023; short-term debt: 2.3% and cash: 9.9% of total assets), and 4.2% of the assets are financed with debt.
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Signals
Two signals. The signal on the left, the evidence on the right.
+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 27
Relative position
BE, all sectors
reference
Manufacture of electrical equipment (NACE 27)
about 104% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 16-06-2025, 45 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
not confirmed
2024
45 d early
2023
40 d early
2022
5 d early
2021
1 d early
2020
on the day
2019
on the day
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 15 days before the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 37% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€109,394▲ 18.1%
2023 · €92,644
Total assets
€114,150▲ 0.6%
2023 · €113,443
Net result
€33,720▲ 25.7%
2023 · €26,832
Working capital
€111,554▲ 19.0%
2023 · €93,712
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
Line20202021202220232024
Operating result€18,114▲ 52.1%€12,229▼ 32.5%€23,221▲ 89.9%€41,131▲ 77.1%€49,726▲ 20.9%
Net result€13,199▲ 54.6%€8,879▼ 32.7%€16,437▲ 85.1%€26,832▲ 63.2%€33,720▲ 25.7%
Equity€42,096▲ 41.8%€50,175▲ 19.2%€65,812▲ 31.2%€92,644▲ 40.8%€109,394▲ 18.1%
Total assets€52,440▲ 25.0%€55,923▲ 6.6%€73,657▲ 31.7%€113,443▲ 54.0%€114,150▲ 0.6%
Debt€10,344▼ 15.6%€5,748▼ 44.4%€7,845▲ 36.5%€20,799▲ 165%€4,755▼ 77.1%
Working capital€40,856▲ 33.6%€49,629▲ 21.5%€62,894▲ 26.7%€93,712▲ 49.0%€111,554▲ 19.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2021 the operating result has climbed three years in a row; 2024 is 21% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Equity and liabilities €114,150
Equity
€109,394 ▲ 18.1%
Debt
€4,755 ▼ 77.1%
Debt's share of the balance-sheet total falls from 18.3% to 4.2%. Equity is higher and debt is lower.
Key figures and ratios
Current ratio
43.97▲
2023 · 5.75
Debt to equity
0.04▼
2023 · 0.22
ROE
30.8%▲
2023 · 29.0%
ROA
29.5%▲
2023 · 23.7%
Debt ≤ 1 year
€2,596▼
2023 · €19,732
Income taxes
€16,456▲
2023 · €14,366
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,672 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.9%
stopped otherwise
95%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 34,672 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.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €8,843 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €649 | €850 | €1,391 | €244 | - | - |
| Other operating charges640/8 | - | €190 | €305 | €994 | €1,080 | ▲ 8.6% |
| Gross operating margin9900 | €19,013 | €13,268 | €24,917 | €42,369 | €50,805 | ▲ 19.9% |
| Operating profit (loss)9901 | €18,114 | €12,229 | €23,221 | €41,131 | €49,726 | ▲ 20.9% |
| Financial income75/76B | - | - | - | €102 | €494 | ▲ 386% |
| Recurring financial income75 | €1 | - | - | €102 | €494 | ▲ 386% |
| Financial charges65/66B | - | €42 | €164 | €35 | €44 | ▲ 25.1% |
| Recurring financial charges65 | €82 | €42 | €164 | €35 | €44 | ▲ 25.1% |
| Profit (loss) for the period before taxes9903 | €18,033 | €12,187 | €23,057 | €41,198 | €50,176 | ▲ 21.8% |
| Income taxes67/77 | €4,834 | €3,308 | €6,620 | €14,366 | €16,456 | ▲ 14.5% |
| Profit (loss) for the period9904 | €13,199 | €8,879 | €16,437 | €26,832 | €33,720 | ▲ 25.7% |
| Profit (loss) for the period to be appropriated9905 | €13,199 | €8,879 | €16,437 | €26,832 | €33,720 | ▲ 25.7% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €52,440 | €55,923 | €73,657 | €113,443 | €114,150 | ▲ 0.6% |
| Fixed assets21/28 | €1,944 | €1,094 | €4,192 | - | - | - |
| Tangible fixed assets22/27 | €1,944 | €1,094 | €4,192 | - | - | - |
| Furniture and vehicles24 | - | €1,094 | €4,192 | - | - | - |
| Current assets29/58 | €50,496 | €54,829 | €69,465 | €113,443 | €114,150 | ▲ 0.6% |
| Amounts receivable within one year40/41 | €9,335 | €11,139 | €11,748 | €10,899 | €12,118 | ▲ 11.2% |
| Trade receivables40 | - | €9,387 | €10,056 | €10,889 | €11,435 | ▲ 5.0% |
| Other amounts receivable41 | - | €1,752 | €1,692 | €11 | €684 | ▲ 6,369% |
| Current investments50/53 | - | - | - | €70,071 | €90,397 | ▲ 29.0% |
| Cash at bank and in hand54/58 | €40,816 | €43,577 | €57,590 | €32,261 | €11,306 | ▼ 65.0% |
| Deferred charges and accrued income490/1 | - | €113 | €127 | €212 | €329 | ▲ 54.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €52,440 | €55,923 | €73,657 | €113,443 | €114,150 | ▲ 0.6% |
| Equity10/15 | €42,096 | €50,175 | €65,812 | €92,644 | €109,394 | ▲ 18.1% |
| Contributions10/11 | - | €12,400 | €12,400 | €12,400 | €5,000 | ▼ 59.7% |
| Reserves13 | €29,696 | €37,775 | €53,412 | €80,244 | €104,394 | ▲ 30.1% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | €35,915 | €51,552 | €80,244 | €104,394 | ▲ 30.1% |
| Amounts payable17/49 | €10,344 | €5,748 | €7,845 | €20,799 | €4,755 | ▼ 77.1% |
| Amounts payable within one year42/48 | €9,641 | €5,200 | €6,571 | €19,732 | €2,596 | ▼ 86.8% |
| Trade debts44 | €1,385 | €635 | €955 | €535 | €391 | ▼ 26.9% |
| Suppliers440/4 | - | €635 | €955 | €535 | €391 | ▼ 26.9% |
| Taxes, remuneration and social security45 | - | €3,765 | €5,580 | €19,160 | €1,870 | ▼ 90.2% |
| Taxes450/3 | - | €3,765 | €5,580 | €19,160 | €1,870 | ▼ 90.2% |
| Other amounts payable47/48 | - | €800 | €36 | €36 | €335 | ▲ 824% |
| Accrued charges and deferred income492/3 | - | €548 | €1,274 | €1,068 | €2,160 | ▲ 102% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,199 | €8,879 | €16,437 | €26,832 | €33,720 | ▲ 25.7% |
| + Depreciation and write-downs630 | €649 | €850 | €1,391 | €244 | - | - |
| Operating cash flow (approximation) | €13,848 | €9,729 | €17,828 | €27,076 | €33,720 | ▲ 24.5% |
| Investment in fixed assets (approximation) | - | €0 | -€4,489 | - | - | - |
| Change in cash | - | €2,762 | €14,013 | -€25,330 | -€20,954 | ▲ 17.3% |
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
2025
16-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2018net €33,720 ▲25.7%
Operating result €49,726, net result €33,720, both a record.
31-12
Financial
Liquidity times 8current ratio 43.97
Current ratio from 5.75 to 43.97; short-term debt falls from €19,732 to €2,596.
31-12
Financial
Equity above €100,000Eq €109,394 ▲18.1%
7 profitable years in a row build equity to €109,394.
21-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
26-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Liquidity doublescurrent ratio 10.54
Current ratio from 5.24 to 10.54; short-term debt falls from €9,641 to €5,200.
31-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
13-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 13 days late
2018
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 24 days late
2017
12-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Bree · 1 establishment unit since 2015
Ground area
3,498 m²
Building footprint
61 m²
Volume, LiDAR
222 m³
Parcel 72004C0267/00Y004, Flanders · tallest building 5.0 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Oudstukkenstraat 10, 3960 Bree
since 20152.241.801.147
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 72004C0267/00Y004 | Flanders | 3,498 m² | 1 · 61 m² | 5.0 m · 1 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 263 companies in sector 27110 we hold annual accounts for 173. 116 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
Founded08-05-2015
Fiscal year end31-12
Activities, NACEBEL 2025
27110Manufacture of electrical equipment
27900Manufacture of electrical equipment
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0629917604
Also
9925:BE0629917604
Registered
17-10-2025
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.