AROPAC
ActiveSummary
AROPAC has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €216,579 and a net result of -€149. Equity is growing by ~41.9% per year across the filed fiscal years. Its solvency ranks better than 95% of 8160 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability69▼-26
Solvency100=
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €17,000 at 30 days acceptable
Liquidity ample (current ratio 56.05 against 6.56 in 2024; short-term debt: 1.6% and cash: 25.7% of total assets), and 1.6% of the assets are financed with debt.
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Signals
Three 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 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 16-09-2026, 47 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
47 d late
2024
21 d late
2023
44 d late
2022
17 d late
2021
32 d late
2020
32 d early
2019
25 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 15 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% 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. Usually files around 1 September (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€216,579▲ 0.1%
2024 · €216,362
Total assets
€220,115▼ 12.0%
2024 · €250,132
Net result
-€149
2024 · €53,234
Working capital
€194,621▲ 3.6%
2024 · €187,841
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale 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€35,642▲ 1,422%€79,544▲ 123%€77,537▼ 2.5%€78,653▲ 1.4%-€3,139
Net result€24,142within the sector's middle half▲ 1,058%€55,378above the sector's middle half▲ 129%€52,994above the sector's middle half▼ 4.3%€53,234above the sector's middle half▲ 0.5%-€149within the sector's middle half
Equity€54,755within the sector's middle half▲ 78.9%€110,134within the sector's middle half▲ 101%€163,128within the sector's middle half▲ 48.1%€216,362above the sector's middle half▲ 32.6%€216,579within the sector's middle half▲ 0.1%
Total assets€86,947within the sector's middle half▼ 3.4%€164,805within the sector's middle half▲ 89.5%€224,768within the sector's middle half▲ 36.4%€250,132within the sector's middle half▲ 11.3%€220,115below the sector's middle half▼ 12.0%
Debt€15,317▼ 64.0%€37,797▲ 147%€61,640▲ 63.1%€33,770▼ 45.2%€3,535▼ 89.5%
Working capital€14,121within the sector's middle half▼ 68.5%€71,080within the sector's middle half▲ 403%€129,874above the sector's middle half▲ 82.7%€187,841above the sector's middle half▲ 44.6%€194,621within the sector's middle half▲ 3.6%
Solvency63.0%within the sector's middle half▲ 29.0pp66.8%within the sector's middle half▲ 3.9pp72.6%above the sector's middle half▲ 5.7pp86.5%above the sector's middle half▲ 13.9pp98.4%above the sector's middle half▲ 11.9pp
Current ratio1.92within the sector's middle half▼ 1.222.88within the sector's middle half▲ 0.963.12within the sector's middle half▲ 0.246.56above the sector's middle half▲ 3.4456.05above the sector's middle half▲ 49.49
Return on assets (ROA)27.8%above the sector's middle half▲ 25.5pp33.6%above the sector's middle half▲ 5.8pp23.6%above the sector's middle half▼ 10.0pp21.3%above the sector's middle half▼ 2.3pp-0.1%below the sector's middle half▼ 21.3pp
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €3,139 after €78,653 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €220,115
Fixed assets
€21,958 ▼ 23.0%
Current assets
€198,156 ▼ 10.6%
Equity and liabilities €220,115
Equity
€216,579 ▲ 0.1%
Debt
€3,535 ▼ 89.5%
Debt's share of the balance-sheet total falls from 13.5% to 1.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€3,423▼
2024 · €85,070
Cash flow
€6,413▼
2024 · €59,650
Quick ratio
40.89▲
2024 · 4.98
Debt to equity
0.02▼
2024 · 0.16
ROE
-0.1%▼
2024 · 24.6%
Interest coverage
103.38▼
2024 · 3402.79
Debt ≤ 1 year
€3,535▼
2024 · €33,770
Income taxes
€38▼
2024 · €25,642
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,915 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 91% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a small loss
1.1%
went bankrupt
7.8%
stopped otherwise
91%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 497,662 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% | 1.7% |
| 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 75% 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 6,915 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €9,131 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,018 | €6,790 | €6,790 | €6,417 | €6,562 | ▲ 2.3% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | -€16,875 | - | - | - |
| Other operating charges640/8 | €2,202 | €849 | €1,610 | €5,360 | €165 | ▼ 96.9% |
| Gross operating margin9900 | €43,862 | €87,183 | €69,063 | €90,430 | €3,588 | ▼ 96.0% |
| Operating profit (loss)9901 | €35,642 | €79,544 | €77,537 | €78,653 | -€3,139 | ▼ 104% |
| Financial income75/76B | €1,850 | €727 | €1,568 | €248 | €3,061 | ▲ 1,135% |
| Recurring financial income75 | €1,850 | €727 | €1,568 | €248 | €3,061 | ▲ 1,135% |
| Financial charges65/66B | €683 | €961 | €330 | €25 | €33 | ▲ 32.4% |
| Recurring financial charges65 | €683 | €961 | €330 | €25 | €33 | ▲ 32.4% |
| Profit (loss) for the period before taxes9903 | €36,809 | €79,310 | €78,775 | €78,876 | -€111 | ▼ 100% |
| Income taxes67/77 | €12,667 | €23,932 | €25,781 | €25,642 | €38 | ▼ 99.9% |
| Profit (loss) for the period9904 | €24,142 | €55,378 | €52,994 | €53,234 | -€149 | ▼ 100% |
| Profit (loss) for the period to be appropriated9905 | €24,142 | €55,378 | €52,994 | €53,234 | -€149 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €86,947 | €164,805 | €224,768 | €250,132 | €220,115 | ▼ 12.0% |
| Fixed assets21/28 | €57,509 | €55,929 | €33,638 | €28,521 | €21,958 | ▼ 23.0% |
| Tangible fixed assets22/27 | €57,509 | €55,929 | €33,638 | €28,521 | €21,958 | ▼ 23.0% |
| Furniture and vehicles24 | €57,509 | €40,429 | €33,638 | €28,521 | €21,958 | ▼ 23.0% |
| Other tangible fixed assets26 | - | €15,500 | - | - | - | - |
| Current assets29/58 | €29,438 | €108,876 | €191,130 | €221,611 | €198,156 | ▼ 10.6% |
| Amounts receivable after more than one year29 | - | €12,130 | €2,500 | €2,500 | €2,500 | = |
| Other amounts receivable291 | - | €12,130 | €2,500 | €2,500 | €2,500 | = |
| Stocks and contracts in progress3 | - | - | €42,003 | €53,592 | €53,592 | = |
| Stocks30/36 | - | - | €42,003 | €53,592 | €53,592 | = |
| Amounts receivable within one year40/41 | €24,343 | €20,731 | €65,044 | €52,225 | €84,995 | ▲ 62.7% |
| Trade receivables40 | €1,093 | €16,206 | €11,948 | - | - | - |
| Other amounts receivable41 | €23,250 | €4,525 | €53,095 | €52,225 | €84,995 | ▲ 62.7% |
| Cash at bank and in hand54/58 | €1,383 | €53,079 | €81,411 | €113,063 | €56,567 | ▼ 50.0% |
| Deferred charges and accrued income490/1 | €3,712 | €22,936 | €172 | €231 | €503 | ▲ 117% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €86,947 | €164,805 | €224,768 | €250,132 | €220,115 | ▼ 12.0% |
| Equity10/15 | €54,755 | €110,134 | €163,128 | €216,362 | €216,579 | ▲ 0.1% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,766 | ▲ 3.0% |
| Capital10 | €12,400 | €12,400 | €12,400 | €12,400 | €12,766 | ▲ 3.0% |
| Issued capital100 | €18,600 | €18,600 | €18,600 | €18,600 | €18,966 | ▲ 2.0% |
| Uncalled capital101 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €1,860 | €51,860 | €104,850 | €157,850 | €157,850 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Legal reserve130 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | €50,000 | €102,990 | €155,990 | €155,990 | = |
| Profit (loss) carried forward14 | €40,495 | €45,874 | €45,878 | €46,112 | €45,963 | ▼ 0.3% |
| Provisions and deferred taxes16 | €16,875 | €16,875 | - | - | - | - |
| Provisions for liabilities and charges160/5 | €16,875 | €16,875 | - | - | - | - |
| Environmental obligations163 | €16,875 | €16,875 | - | - | - | - |
| Amounts payable17/49 | €15,317 | €37,797 | €61,640 | €33,770 | €3,535 | ▼ 89.5% |
| Amounts payable within one year42/48 | €15,317 | €37,797 | €61,256 | €33,770 | €3,535 | ▼ 89.5% |
| Trade debts44 | €3,486 | €2,287 | €10,433 | €1,873 | €2,267 | ▲ 21.0% |
| Suppliers440/4 | €3,486 | €2,287 | €10,433 | €1,873 | €2,267 | ▲ 21.0% |
| Taxes, remuneration and social security45 | €11,832 | €35,509 | €50,823 | €31,897 | €1,268 | ▼ 96.0% |
| Taxes450/3 | €11,758 | €35,436 | €50,823 | €31,897 | €1,268 | ▼ 96.0% |
| Remuneration and social security454/9 | €73 | €73 | - | - | - | - |
| Accrued charges and deferred income492/3 | - | - | €384 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €24,142 | €55,378 | €52,994 | €53,234 | -€149 | ▼ 100% |
| + Depreciation and write-downs630 | €6,018 | €6,790 | €6,790 | €6,417 | €6,562 | ▲ 2.3% |
| Operating cash flow (approximation) | €30,160 | €62,168 | €59,785 | €59,650 | €6,413 | ▼ 89.2% |
| Investment in fixed assets (approximation) | - | -€5,210 | €15,500 | -€1,299 | €0 | ▲ 100% |
| Change in cash | - | €51,696 | €28,331 | €31,652 | -€56,496 | ▼ 278% |
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
16-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 47 days late
2025
31-12
Financial
Weakest financial yearnet -€149
Net result drops to -€149, the lowest in the series.
31-12
Financial
Liquidity times 9current ratio 56.05
Current ratio from 6.56 to 56.05; short-term debt falls from €33,770 to €3,535.
21-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 21 days late
2024
31-12
Financial
Liquidity doublescurrent ratio 6.56
Current ratio from 3.12 to 6.56; short-term debt falls from €61,256 to €33,770.
31-12
Financial
Equity above €200,000Eq €216,362 ▲32.6%
7 profitable years in a row build equity to €216,362.
13-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 44 days late
2023
31-12
Financial
Equity above €150,000Eq €163,128 ▲48.1%
6 profitable years in a row build equity to €163,128.
17-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 17 days late
2022
31-12
Financial
Highest result since 2018net €55,378 ▲129%
Operating result €79,544, net result €55,378, both a record.
31-12
Financial
Equity above €100,000Eq €110,134 ▲101%
5 profitable years in a row build equity to €110,134.
01-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 32 days late
Show earlier events
2021
29-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
06-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Liquidity doublescurrent ratio 2.69
Current ratio from 1.16 to 2.69.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 30 days late
2017
09-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 9 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Estinnes · 1 establishment unit since 2015
Ground area
1.4 ha
Parcel 56080B0067/00X040, Wallonia. Linked by address, not a title deed.
1 establishment unit
AROPAC
since 20152.241.425.223
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 56080B0067/00X040indicative | Wallonia | 1.4 ha | - | - |
Linked by address, not proof of ownership
Good to know
0 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 6,146 companies in sector 46190 we hold annual accounts for 2,576. 1,849 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 (pre-2019)
Founded14-04-2015
Fiscal year end31-12
Activities, NACEBEL 2025
46190Agents in non-specialised wholesale trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0628596226
Also
9925:BE0628596226
Registered
10-04-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.