Arovo Belgium
ActiveSummary
Arovo Belgium has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €10.36M and a net result of €2.33M. Equity is growing by ~9.9% per year across the filed fiscal years. Its solvency ranks better than 33% of 5989 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2024
55
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability45▲+7
Solvency52▼-2
Growth68▲+25
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €550k at 30 days acceptable
Liquidity short (current ratio 0.85 against 0.67 in 2023; short-term debt: 71.1% and cash: 4.6% of total assets), and 72.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · 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
Sector 46
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 2024Solvency, return and age of the figures
Solvency
27.4%
Return on assets
6.2%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 09-09-2025, 40 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
not confirmed
2024
40 d late
2023
48 d late
2022
47 d early
2021
53 d early
2020
30 d early
2019
43 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, full schema
Turnover
€26.44M▲ 51.4%
2023 · €17.47M
2018: €20.48M
2019: €18.61M
2020: €11.97M
2021: €17.82M
2022: €19.56M
2023: €17.47M
2018 → 2024
EBIT margin
7.3%▼ 0.2pp
2023 · 7.5%
2018: 5.6%
2019: 4.3%
2020: 6.3%
2021: 3.4%
2022: 0.9%
2023: 7.5%
2018 → 2024
Net result
€2.33M▲ 618%
2023 · €325k
2018: €784k
2019: €911k
2020: €512k
2021: €1.09M
2022: €708k
2023: €325k
2018 → 2024
Working capital
€-3.99M▲ 37.4%
2023 · €-6.38M
2018: €2.74M
2019: €3.27M
2020: €-4.35M
2021: €-3.98M
2022: €-6.97M
2023: €-6.38M
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€11.97M-€17.82M▲ 48.9%€19.56M▲ 9.8%€17.47M▼ 10.7%€26.44M▲ 51.4%
Equity€6.90M-€7.99M▲ 15.8%€8.70M▲ 8.9%€8.02M▼ 7.8%€10.36M▲ 29.1%
Operating result€752k-€607k▼ 19.3%€180k▼ 70.3%€1.32M▲ 630%€1.93M▲ 46.4%
Net result€512k-€1.09M▲ 112%€708k▼ 34.9%€325k▼ 54.1%€2.33M▲ 618%
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 46% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €37.73M
Fixed assets
€14.91M ▲ 1.1%
Current assets
€22.82M ▲ 76.7%
Equity and liabilities €37.73M
Equity
€10.36M ▲ 29.1%
Debt
€27.38M ▲ 39.4%
Debt's share of the balance-sheet total rises from 71.0% to 72.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€1.95M▲
2023 · €1.34M
Cash flow
€2.36M▲
2023 · €350k
Current ratio
0.85▲
2023 · 0.67
Quick ratio
0.56▲
2023 · 0.44
Debt to equity
2.64▲
2023 · 2.45
ROE
22.5%▲
2023 · 4.1%
ROA
6.2%▲
2023 · 1.2%
Interest coverage
1.96▲
2023 · 1.37
Debt ≤ 1 year
€26.82M▲
2023 · €19.29M
Income taxes
€316k▲
2023 · €63k
Staff costs
€246k▲
2023 · €229k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 72 lines
Balance sheet
Code20232024
Assets
Total assets20/58€27.67M€37.73M▲
Fixed assets21/28€14.75M€14.91M▲
Tangible fixed assets22/27€50k€33k▼
Plant, machinery and equipment23€49k€33k▼
Furniture and vehicles24€483-
Financial fixed assets28€14.70M€14.88M▲
Affiliated companies280/1€14.68M€14.85M▲
Participating interests280€8.31M€8.31M=
Amounts receivable281€6.37M€6.54M▲
Other financial fixed assets284/8€25k€25k=
Amounts receivable and cash guarantees285/8€25k€25k=
Current assets29/58€12.92M€22.82M▲
Stocks and contracts in progress3€4.46M€7.91M▲
Stocks30/36€4.46M€7.91M▲
Goods purchased for resale34€4.46M€7.91M▲
Amounts receivable within one year40/41€7.40M€13.18M▲
Trade receivables40€6.17M€5.89M▼
Other amounts receivable41€1.23M€7.29M▲
Cash at bank and in hand54/58€1.06M€1.73M▲
Deferred charges and accrued income490/1€2k€3k▲
Equity and liabilities
Total equity and liabilities10/49€27.67M€37.73M▲
Equity10/15€8.02M€10.36M▲
Contributions10/11€3.77M€3.77M=
Reserves13€569k€569k=
Non-distributable reserves130/1€110k€110k=
Reserves not available under the articles1311€110k€110k=
Distributable reserves133€459k€459k=
Profit (loss) carried forward14€3.69M€6.02M▲
Amounts payable17/49€19.65M€27.38M▲
Amounts payable within one year42/48€19.29M€26.82M▲
Financial debts43€15.50M€20.50M▲
Credit institutions430/8€15.50M€20.50M▲
Trade debts44€3.62M€2.94M▼
Suppliers440/4€3.62M€2.94M▼
Taxes, remuneration and social security45€83k€400k▲
Taxes450/3€63k€379k▲
Remuneration and social security454/9€20k€21k▲
Other amounts payable47/48€91k€2.98M▲
Accrued charges and deferred income492/3€354k€560k▲
Income statement
Code20232024
Operating income70/76A€17.47M€26.45M▲
Turnover70€17.47M€26.44M▲
Other operating income74€2k€7k▲
Operating charges60/66A€16.15M€24.52M▲
Goods for resale, raw materials and consumables60€13.78M€21.41M▲
Purchases600/8€14.60M€24.86M▲
Change in stocks: decrease (increase)609€-818k€-3.45M▼
Services and other goods61€2.01M€2.51M▲
Remuneration, social security and pensions62€229k€246k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€25k€26k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€104k€329k▲
Other operating charges640/8€1k€2k▲
Operating profit (loss)9901€1.32M€1.93M▲
Financial income75/76B€1.95M€2.48M▲
Recurring financial income75€1.95M€2.48M▲
Income from financial fixed assets750€1.50M€1.50M=
Income from current assets751€3k€131k▲
Other financial income752/9€450k€845k▲
Financial charges65/66B€2.88M€1.75M▼
Recurring financial charges65€1.54M€1.75M▲
Debt charges650€979k€995k▲
Other financial charges652/9€561k€757k▲
Non-recurring financial charges66B€1.34M-
Profit (loss) for the period before taxes9903€388k€2.65M▲
Income taxes67/77€63k€316k▲
Taxes670/3€63k€316k▲
Profit (loss) for the period9904€325k€2.33M▲
Profit (loss) for the period to be appropriated9905€325k€2.33M▲
Appropriation of the result
Profit (loss) to be appropriated9906€4.69M€6.02M▲
Profit (loss) brought forward from the previous period14P€4.36M€3.69M▼
Profit to be distributed694/7€1.00M-
Return on contributions (dividend)694€1.00M-
Social balance
Average headcount (FTE)90872.02.0=
The notes to these accounts (47 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
09-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 40 days late
2024
31-12
Financial
Highest result since 2018net €2.33M ▲618%
Operating result €1.93M, net result €2.33M, both a record.
31-12
Financial
Equity above €10MEq €10.36M ▲29.1%
7 profitable years in a row build equity to €10.36M.
17-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 48 days late
2023
31-12
Financial
Weakest financial yearnet €325k ▼54.1%
Net result drops to €325k, the lowest in the series; recovery starts the following year.
14-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
08-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
01-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
18-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
20-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
15-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
14-06
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
21-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
15 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, Gent · 1 establishment unit since 2008
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.
Brandstraat 19000 GentGround area
84 m²
Building footprint
78 m²
Volume, LiDAR
762 m³
Parcel 44815F1765/00A000, Flanders · tallest building 12.1 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Arovo
since 20082.172.862.158
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44815F1765/00A000 | Flanders | 84 m² | 1 · 78 m² | 12.1 m · 3 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.
Recognitions · licences · registrations
Legal Entity Identifier
699400K79KLKQA04NI86
Similar companies · same sector, comparable size
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SP.CORP
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KAOLIN INTERNATIONAL
BE 0449.445.639
Antwerpen · Eq €9.46M
ISOTHERMOS
BE 0402.963.536
Anderlecht · Eq €9.43M
Of 1,565 companies in sector 46900 we hold annual accounts for 920. 261 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded09-10-2001
Fiscal year end31-12
Activities, NACEBEL 2025
46494Wholesale of non-electrical household articles
46900Non-specialised wholesale trade
23120Manufacture of other non-metallic mineral products
23130Manufacture of other non-metallic mineral products
Sources
Crossroads Bank for EnterprisesNational Bank · 22 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.