ASHKAN
ActiveSummary
The computed 12-month bankruptcy probability of ASHKAN is 6.1% (elevated). The 2025 annual accounts show equity of €34,788 and a net result of -€12,801. Equity is shrinking by ~8.4% per year across the filed fiscal years. Its solvency ranks better than 57% of 4709 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability50▼-32
Solvency71▼-5
Growth32=
Track record94
Bankruptcy probability, 12 months
6.1%
Elevated
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days only on tighter terms
Liquidity tight (current ratio 1.44 against 0.99 in 2024; short-term debt: 38% and cash: 11% of total assets), and 54% of the assets are financed with debt.
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Signals
Five 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 49
Relative position
BE, all sectors
reference
Land transport and transport via pipelines (NACE 49)
about 141% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · 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 2025Solvency, return and age of the figures
Solvency
46%
Return on assets
-16.9%
Age of the figures
9 mo
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 05-06-2026, 56 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
56 d early
2024
76 d early
2023
55 d early
2022
48 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average 59 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 49% 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 6 June (4 of the last 4 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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How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Financials · fiscal year 2025, micro schema
Equity
€34,788▼ 26.9%
2024 · €47,589
Total assets
€75,652▼ 18.5%
2024 · €92,816
Net result
-€12,801
2024 · €10,016
Working capital
€12,758
2024 · -€405
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, 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
Line2022202320242025
Operating result€26,863--€6,850€16,200-€10,188
Net result€26,010above the sector's middle half--€13,437below the sector's middle half€10,016within the sector's middle half-€12,801below the sector's middle half
Equity€51,010within the sector's middle half-€37,573within the sector's middle half▼ 26.3%€47,589within the sector's middle half▲ 26.7%€34,788within the sector's middle half▼ 26.9%
Total assets€99,379within the sector's middle half-€114,757within the sector's middle half▲ 15.5%€92,816within the sector's middle half▼ 19.1%€75,652within the sector's middle half▼ 18.5%
Debt€48,369-€77,184▲ 59.6%€45,227▼ 41.4%€40,863▼ 9.6%
Working capital-€31,211below the sector's middle half--€16,602below the sector's middle half▲ 46.8%-€405within the sector's middle half▲ 97.6%€12,758within the sector's middle half
Solvency51.3%within the sector's middle half-32.7%within the sector's middle half▼ 18.6pp51.3%within the sector's middle half▲ 18.5pp46.0%within the sector's middle half▼ 5.3pp
Current ratio0.35below the sector's middle half-0.61below the sector's middle half▲ 0.250.99within the sector's middle half▲ 0.381.44within the sector's middle half▲ 0.46
Return on assets (ROA)26.2%above the sector's middle half--11.7%below the sector's middle half▼ 37.9pp10.8%within the sector's middle half▲ 22.5pp-16.9%below the sector's middle half▼ 27.7pp
above
within
below
the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €10,188 after €16,200 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €75,652
Fixed assets
€34,156 ▼ 44.4%
Current assets
€41,496 ▲ 32.0%
Equity and liabilities €75,652
Equity
€34,788 ▼ 26.9%
Debt
€40,863 ▼ 9.6%
Debt's share of the balance-sheet total rises from 48.7% to 54.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€17,040▼
2024 · €43,939
Cash flow
€14,427▼
2024 · €37,755
Debt to equity
1.17▲
2024 · 0.95
ROE
-36.8%▼
2024 · 21.0%
Interest coverage
16.84▼
2024 · 22.21
Debt ≤ 1 year
€28,738▼
2024 · €31,838
Debt > 1 year
€12,125▼
2024 · €13,389
Income taxes
€1,601▼
2024 · €4,206
Staff costs
€99,698▼
2024 · €100,109
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,597 companies that looked in July 2024 the way this one looks now, 2.8% went bankrupt within 24 months and 87% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
2.8%
went bankrupt
9.2%
stopped otherwise
87%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 6.1% 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 497,662 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 3,597 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 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €25,229 | €87,386 | €100,109 | €99,698 | ▼ 0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €20,811 | €27,739 | €27,739 | €27,228 | ▼ 1.8% |
| Other operating charges640/8 | €14,210 | €14,100 | €11,176 | €6,548 | ▼ 41.4% |
| Gross operating margin9900 | €87,113 | €122,375 | €155,224 | €123,286 | ▼ 20.6% |
| Operating profit (loss)9901 | €26,863 | -€6,850 | €16,200 | -€10,188 | ▼ 163% |
| Financial income75/76B | - | - | - | €0 | - |
| Recurring financial income75 | - | - | - | €0 | - |
| Financial charges65/66B | €853 | €1,870 | €1,978 | €1,012 | ▼ 48.9% |
| Recurring financial charges65 | €853 | €1,870 | €1,978 | €1,012 | ▼ 48.9% |
| Profit (loss) for the period before taxes9903 | €26,010 | -€8,720 | €14,222 | -€11,199 | ▼ 179% |
| Income taxes67/77 | - | €4,717 | €4,206 | €1,601 | ▼ 61.9% |
| Profit (loss) for the period9904 | €26,010 | -€13,437 | €10,016 | -€12,801 | ▼ 228% |
| Profit (loss) for the period to be appropriated9905 | €26,010 | -€13,437 | €10,016 | -€12,801 | ▼ 228% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €99,379 | €114,757 | €92,816 | €75,652 | ▼ 18.5% |
| Fixed assets21/28 | €82,221 | €89,123 | €61,384 | €34,156 | ▼ 44.4% |
| Tangible fixed assets22/27 | €82,221 | €89,123 | €61,384 | €34,156 | ▼ 44.4% |
| Furniture and vehicles24 | €82,221 | €61,410 | €40,599 | €20,299 | ▼ 50.0% |
| Leasing and similar rights25 | - | €27,713 | €20,785 | €13,856 | ▼ 33.3% |
| Current assets29/58 | €17,157 | €25,634 | €31,433 | €41,496 | ▲ 32.0% |
| Amounts receivable within one year40/41 | - | €17,411 | €22,781 | €33,185 | ▲ 45.7% |
| Trade receivables40 | - | €7,472 | €3,120 | €6,962 | ▲ 123% |
| Other amounts receivable41 | - | €9,938 | €19,662 | €26,223 | ▲ 33.4% |
| Cash at bank and in hand54/58 | €17,157 | €8,223 | €8,652 | €8,310 | ▼ 3.9% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €99,379 | €114,757 | €92,816 | €75,652 | ▼ 18.5% |
| Equity10/15 | €51,010 | €37,573 | €47,589 | €34,788 | ▼ 26.9% |
| Contributions10/11 | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Capital10 | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Issued capital100 | €25,000 | €25,000 | €25,000 | €25,000 | = |
| Profit (loss) carried forward14 | €26,010 | €12,573 | €22,589 | €9,788 | ▼ 56.7% |
| Amounts payable17/49 | €48,369 | €77,184 | €45,227 | €40,863 | ▼ 9.6% |
| Amounts payable after more than one year17 | - | €34,947 | €13,389 | €12,125 | ▼ 9.4% |
| Financial debts170/4 | - | €34,947 | €13,389 | €12,125 | ▼ 9.4% |
| Amounts payable within one year42/48 | €48,369 | €42,236 | €31,838 | €28,738 | ▼ 9.7% |
| Current portion of amounts payable after more than one year42 | - | €29,778 | €21,558 | €19,051 | ▼ 11.6% |
| Trade debts44 | €43,661 | €6,611 | €685 | €6,212 | ▲ 807% |
| Suppliers440/4 | €43,661 | €6,611 | €685 | €6,212 | ▲ 807% |
| Taxes, remuneration and social security45 | €4,708 | €5,847 | €9,595 | €3,475 | ▼ 63.8% |
| Taxes450/3 | €4,708 | €5,847 | €9,595 | €3,475 | ▼ 63.8% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €26,010 | -€13,437 | €10,016 | -€12,801 | ▼ 228% |
| + Depreciation and write-downs630 | €20,811 | €27,739 | €27,739 | €27,228 | ▼ 1.8% |
| Operating cash flow (approximation) | €46,821 | €14,303 | €37,755 | €14,427 | ▼ 61.8% |
| Investment in fixed assets (approximation) | - | -€34,641 | €0 | €0 | - |
| Change in cash | - | -€8,934 | €428 | -€341 | ▼ 180% |
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
05-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
16-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €10,016
Net result €10,016 after one loss-making year.
06-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Weakest financial yearnet -€13,437
Net result drops to -€13,437, the lowest in the series; recovery starts the following year.
13-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro 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, Brussel · 1 establishment unit since 2021
Ground area
590 m²
Building footprint
238 m²
Volume, LiDAR
3,306 m³
Parcel 21819D0219/00A008, Brussels · tallest building 16.0 m, ±5 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
ASHKAN
since 20212.320.064.014
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21819D0219/00A008 | Brussels | 590 m² | 1 · 238 m² | 16.0 m · 5 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 12,583 companies in sector 49410 we hold annual accounts for 8,204. 5,684 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
Founded13-07-2021
Fiscal year end31-12
Activities, NACEBEL 2025
49410Freight transport by road
43240Other construction installation
43990Other specialised construction activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0771328063
Also
9925:BE0771328063
Registered
09-10-2025
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.