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AS MANAGEMENT

Active
Private limited companyfounded 20242 yrs activeRue Reine Astrid 26, 1473 Genappe, BelgiumKBO/BCE: BE 1012.331.392
Summary

AS MANAGEMENT has been active since 2024 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €598 and a net result of -€2,402. Its solvency ranks better than 22% of 14462 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.2% (low).

Checked score

Score 2025
Axes
Profitability63
Solvency26
Growth-
Track record67
Bankruptcy probability, 12 months
1.2% Low
0%0.5%1.5%4%10%≥ 25%
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Signals

Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Young company
A young company has little track record yet and statistically fails more often than an established one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 2 years 0 10 y
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies more bankruptcies →
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 2025
Solvency, return and age of the figures
Solvency
1.1%
Return on assets
-4.6%
Age of the figures
9 mo
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 14462 sector peers (2025).
NBB · sector comparison
Position among 14462 sector peers
Solvency
better than 22%
← weakest strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-08-2026, 21 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 · 1 filing
Deviation from the deadline
2025
21 d late
← before the deadline after the deadline →
Checked, nothing found (1)
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

AS MANAGEMENT was incorporated on 8 August 2024 as a Private limited company.1 The company has filed annual accounts once, for fiscal year 2025.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2025

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Financials · fiscal year 2025, micro schema

Equity
€598
Total assets
€52,473
Net result
-€2,402
Working capital
-€6,193

Turnover and EBIT margin not published: the micro schema does not require them.

Balance-sheet composition
Assets €52,473
Fixed assets €11,111
Current assets €41,363
Equity and liabilities €52,473
Equity €598
Debt €51,875
Debt finances 98.9% of the balance-sheet total.
Key figures and ratios
2025 value
EBITDA
€12,050
Cash flow
€7,192
Current ratio
0.87
ROA
-4.6%
Interest coverage
9.57
Debt ≤ 1 year
€47,556
Debt > 1 year
€4,319
Income taxes
€3,600
Equity ratios withheld: equity of €598 is too small for a meaningful ratio.

Peer companies

Historical observation

Of the 1,301 companies that looked in July 2024 the way this one looks now, 5.5% went bankrupt within 24 months and 92% are still going.

  • Micro
  • 2 to 5 years old
  • solvency under 10%
  • a small loss
5.5% went bankrupt
1.6% stopped otherwise
92% 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 1.2% 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 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.

The companies in ten equal groups, from lowest to highest expected share.
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.5%
3 0.5% 0.6%
4 0.7% 0.8%
5 0.9% 1.0%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.8%
9 3.0% 3.1%
10 5.6% 6.2%

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 1,301 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
Filed annual accounts As filed with the NBB · 2025 · 36 lines
Balance sheet Code2025
Assets
Total assets20/58€52,473
Fixed assets21/28€11,111
Tangible fixed assets22/27€11,111
Furniture and vehicles24€11,111
Current assets29/58€41,363
Amounts receivable within one year40/41€19,574
Trade receivables40€19,574
Cash at bank and in hand54/58€20,368
Deferred charges and accrued income490/1€1,420
Equity and liabilities
Total equity and liabilities10/49€52,473
Equity10/15€598
Contributions10/11€3,000
Profit (loss) carried forward14-€2,402
Amounts payable17/49€51,875
Amounts payable after more than one year17€4,319
Financial debts170/4€4,319
Amounts payable within one year42/48€47,556
Current portion of amounts payable after more than one year42€6,251
Trade debts44€4,385
Suppliers440/4€4,385
Taxes, remuneration and social security45€5,851
Taxes450/3€5,851
Other amounts payable47/48€31,069
Income statement Code2025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€9,594
Other operating charges640/8€908
Gross operating margin9900€12,958
Operating profit (loss)9901€2,456
Financial income75/76B€1
Recurring financial income75€1
Financial charges65/66B€1,259
Recurring financial charges65€1,259
Profit (loss) for the period before taxes9903€1,198
Income taxes67/77€3,600
Profit (loss) for the period9904-€2,402
Profit (loss) for the period to be appropriated9905-€2,402
Appropriation of the result
Profit (loss) to be appropriated9906-€2,402

The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line2025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€9,594
Other operating charges640/8€908
Gross operating margin9900€12,958
Operating profit (loss)9901€2,456
Financial income75/76B€1
Recurring financial income75€1
Financial charges65/66B€1,259
Recurring financial charges65€1,259
Profit (loss) for the period before taxes9903€1,198
Income taxes67/77€3,600
Profit (loss) for the period9904-€2,402
Profit (loss) for the period to be appropriated9905-€2,402
Line2025
Assets
Total assets20/58€52,473
Fixed assets21/28€11,111
Tangible fixed assets22/27€11,111
Furniture and vehicles24€11,111
Current assets29/58€41,363
Amounts receivable within one year40/41€19,574
Trade receivables40€19,574
Cash at bank and in hand54/58€20,368
Deferred charges and accrued income490/1€1,420
Equity and liabilities
Total equity and liabilities10/49€52,473
Equity10/15€598
Contributions10/11€3,000
Profit (loss) carried forward14-€2,402
Amounts payable17/49€51,875
Amounts payable after more than one year17€4,319
Financial debts170/4€4,319
Amounts payable within one year42/48€47,556
Current portion of amounts payable after more than one year42€6,251
Trade debts44€4,385
Suppliers440/4€4,385
Taxes, remuneration and social security45€5,851
Taxes450/3€5,851
Other amounts payable47/48€31,069
Line2025
Profit (loss) for the period9904-€2,402
+ Depreciation and write-downs630€9,594
Operating cash flow (approximation)€7,192

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

2026
21-08
NBB filing Annual accounts filed
fiscal year 2025 · micro schema · 21 days late
NBB filing
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
No directors read yet: 0 of 1 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Genappe · 1 establishment unit since 2024
seat establishment The establishment unit on the map
Ground area
1,003 m²
Building footprint
89 m²
Parcel 25034D0132/00K003, Wallonia. Linked by address, not a title deed.
2 companies at this address See who is registered here
1 establishment unit
AS MANAGEMENT
Rue Reine Astrid 26, 1473 GenappeReal estate development
since 20242.362.700.561
1 parcel
Wallonia 1 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
25034D0132/00K003 Wallonia 1,003 m² 1 · 89 m² -
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.

Similar companies · same sector, comparable size

Of 9,695 companies in this sector we hold annual accounts for 7,393. 550 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Company details

Identification
Legal formPrivate limited company
Founded08-08-2024
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
68122Development of non-residential building projects
68110Buying and selling of own real estate
68310Real estate agency activities
68321Property management for co-owned buildings (syndics)
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID 0208:1012331392
Registered 17-12-2025

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 1 October 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.