ARMAGRO
ActiveThe computed 12-month bankruptcy probability of ARMAGRO is 1.9% (moderate). The 2025 annual accounts show equity of €45k and a net result of €16k. Equity remains stable across the filed fiscal years (±0.4% per year). Its solvency ranks better than 25% of 27787 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
64
/ 100
Healthy
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability79▲+12
Solvency48▲+9
Growth78▲+46
Track record100
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2.5k at 30 days acceptable
Liquidity tight (current ratio 1.05 against 0.73 in 2024; short-term debt: 24.4% and cash: 17% of total assets), and 76.9% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Eight 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 43
Relative position
BE, all sectors
reference
Sector 43
higher
← 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
23.1%
Return on assets
8.1%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 25% of 27787 sector peers (2025).
NBB · sector comparisonPosition among 27787 sector peers
Solvency
better than 25%
← weakest
strongest →
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €45k
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 22-04-2026, 100 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
100 d early
2024
2 d early
2023
35 d early
2022
on the day
2021
31 d late
2020
174 d late
2019
67 d late
← before the deadline
after the deadline →
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
23-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€45k▲ 53.4%
2024 · €29k
2019: €30k
2020: €44k
2021: €69k
2022: €57k
2023: €33k
2024: €29k
2019 → 2025
Total assets
€192k▼ 9.7%
2024 · €213k
2019: €53k
2020: €87k
2021: €161k
2022: €317k
2023: €265k
2024: €213k
2019 → 2025
Net result
€16k
2024 · €-4k
2019: €15k
2020: €14k
2021: €25k
2022: €-13k
2023: €-24k
2024: €-4k
2019 → 2025
Working capital
€2k
2024 · €-13k
2019: €27k
2020: €32k
2021: €40k
2022: €11k
2023: €-12k
2024: €-13k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€69k-€57k▼ 18.2%€33k▼ 42.2%€29k▼ 11.4%€45k▲ 53.4%
Operating result€30k-€-10k€-19k▼ 93.8%€1k€21k▲ 1,706%
Net result€25k-€-13k€-24k▼ 89.8%€-4k▲ 84.4%€16k
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 1,706% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €192k
Fixed assets
€143k▼ 19.8%
Current assets
€49k▲ 42.0%
Equity and liabilities €192k
Equity
€45k▲ 53.4%
Debt
€148k▼ 19.7%
The debt ratio falls from 86.4% to 76.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€64k▲
2024 · €44k
Cash flow
€59k▲
2024 · €39k
Solvency
23.1%▲
2024 · 13.6%
Current ratio
1.05▲
2024 · 0.73
Quick ratio
1.05▲
2024 · 0.73
Debt / equity
3.32▼
2024 · 6.34
ROE
34.8%▲
2024 · -12.9%
ROA
8.1%▲
2024 · -1.8%
Interest coverage
17.49▲
2024 · 9.09
Debt
€148k▼
2024 · €184k
Debt ≤ 1 year
€47k▼
2024 · €47k
Debt > 1 year
€101k▼
2024 · €137k
Income taxes
€2k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€213k€192k▼
Fixed assets21/28€178k€143k▼
Tangible fixed assets22/27€178k€143k▼
Plant, machinery and equipment23€2k€1k▼
Furniture and vehicles24€13k€12k▼
Leasing and similar rights25€160k€127k▼
Other tangible fixed assets26€3k€3k▼
Current assets29/58€35k€49k▲
Amounts receivable within one year40/41€20k€15k▼
Trade receivables40€16k€9k▼
Other amounts receivable41€4k€6k▲
Cash at bank and in hand54/58€10k€33k▲
Deferred charges and accrued income490/1€5k€2k▼
Equity and liabilities
Total equity and liabilities10/49€213k€192k▼
Equity10/15€29k€45k▲
Contributions10/11€15k€15k=
Reserves13€39k€55k▲
Distributable reserves133€39k€55k▲
Profit (loss) carried forward14€-25k€-25k=
Amounts payable17/49€184k€148k▼
Amounts payable after more than one year17€137k€101k▼
Financial debts170/4€137k€101k▼
Amounts payable within one year42/48€47k€47k▼
Current portion of amounts payable after more than one year42€39k€36k▼
Trade debts44€8k€10k▲
Suppliers440/4€8k€10k▲
Taxes, remuneration and social security45€0€2k▲
Taxes450/3-€2k
Remuneration and social security454/9€0-
Other amounts payable47/48€51€0▼
Accrued charges and deferred income492/3-€79
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€43k€43k▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0-
Other operating charges640/8€2k€1k▼
Gross operating margin9900€46k€65k▲
Operating profit (loss)9901€1k€21k▲
Financial income75/76B€0€9▲
Recurring financial income75€0€9▲
Financial charges65/66B€5k€4k▼
Recurring financial charges65€5k€4k▼
Profit (loss) for the period before taxes9903€-4k€17k▲
Income taxes67/77-€2k
Profit (loss) for the period9904€-4k€16k▲
Profit (loss) for the period to be appropriated9905€-4k€16k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-25k€-10k▲
Profit (loss) brought forward from the previous period14P€-22k€-25k▼
Transfer to equity691/2-€16k
To other reserves6921-€16k
The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
22-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €16k
Net result €16k after 3 loss-making years.
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
26-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet €-24k
Net result drops to €-24k, the lowest in the series; recovery starts the following year.
31-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
21-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 174 days late
2021
31-12
Financial
Highest result since 2019net €25k ▲73%
Operating result €30k, net result €25k, both a record.
2020
06-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 67 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Berlare · 1 establishment unit since 2019
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Donklaan 919290 BerlareGround area
3,747 m²
Building footprint
242 m²
Volume, LiDAR
1,055 m³
Parcel 42022B1253/00A000, Flanders · tallest building 12.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
ARMAGRO
since 20192.294.288.837
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42022B1253/00A000 | Flanders | 3,747 m² | 1 · 242 m² | 12.3 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
CEM & EFE
BE 0842.831.713
Schaarbeek · Eq €45k
VE CONTRACTORS
BE 0805.872.139
Lebbeke · Eq €44k
GANAR
BE 0448.361.912
Lokeren · Eq €45k
KEULEERS WS
BE 0661.766.365
Londerzeel · Eq €45k
JL Aannemingen
BE 0771.844.242
Hoogstraten · Eq €44k
Of 8,456 companies in sector 43120 we hold annual accounts for 3,233. 2,443 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded24-09-2019
Fiscal year end31-12
Activities, NACEBEL
43120Site preparation
Sources
Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers
Data from official sources, last processed on 23-09-2026. Scores and ratios are computed by Checked and are not a credit decision.