ATHAE
ActiveSummary
ATHAE has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€1,881) and a net result of -€826. Equity is shrinking by ~24.3% per year across the filed fiscal years. Its solvency ranks better than 16% of 11502 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability21▼-2
Solvency10▼-6
Growth58=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.87 against 0.92 in 2024; short-term debt: 115.4% and cash: 18.4% of total assets), and equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
-15.4%
Return on assets
-6.7%
Age of the figures
9 mo
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
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€1,881
neutral · A punctual record breaks
This company filed 5 consecutive financial years on time. The year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
31 d late
2024
30 d early
2023
8 d early
2022
39 d early
2021
34 d early
2020
36 d early
2019
5 d late
← 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 16 days before 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 July (4 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, micro schema
Equity
-€1,881▼ 78.3%
2024 · -€1,055
Total assets
€12,250▼ 1.2%
2024 · €12,405
Net result
-€826▼ 16.3%
2024 · -€710
Working capital
-€1,881▼ 78.3%
2024 · -€1,055
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-€55=-€57▼ 3.6%-€63▼ 10.5%-€526▼ 735%-€671▼ 27.6%
Net result-€55within the sector's middle half=-€57within the sector's middle half▼ 3.6%-€63within the sector's middle half▼ 10.5%-€710within the sector's middle half▼ 1,027%-€826within the sector's middle half▼ 16.3%
Equity-€225below the sector's middle half▼ 32.4%-€282below the sector's middle half▼ 25.3%-€345below the sector's middle half▼ 22.3%-€1,055below the sector's middle half▼ 206%-€1,881below the sector's middle half▼ 78.3%
Total assets€12,100below the sector's middle half€12,405below the sector's middle half▲ 2.5%€12,250below the sector's middle half▼ 1.2%
Debt€225▲ 31.6%€282▲ 25.3%€12,445▲ 4,313%€13,460▲ 8.2%€14,131▲ 5.0%
Working capital-€345within the sector's middle half-€1,055within the sector's middle half▼ 206%-€1,881within the sector's middle half▼ 78.3%
Solvency-2.9%below the sector's middle half-8.5%below the sector's middle half▼ 5.7pp-15.4%below the sector's middle half▼ 6.9pp
Current ratio0.97within the sector's middle half0.92within the sector's middle half▼ 0.050.87below the sector's middle half▼ 0.05
Return on assets (ROA)-0.5%within the sector's middle half-5.7%below the sector's middle half▼ 5.2pp-6.7%below the sector's middle half▼ 1.0pp
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 micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €671 in 2025 against €526 in 2024; the loss grows and 2025 has the lowest result in the available series.
Key figures and ratios
Quick ratio
0.16▼
2024 · 0.18
Debt to equity
-7.51▲
2024 · -12.76
Debt ≤ 1 year
€14,131▲
2024 · €13,460
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,338 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 90% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a small loss
2.5%
went bankrupt
5.6%
stopped otherwise
90%
still going
A further 1.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.0% 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 2,338 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 |
|---|---|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | €55 | €57 | €63 | €526 | €671 | ▲ 27.6% |
| Gross operating margin9900 | -€55 | -€57 | -€63 | -€526 | -€671 | ▼ 27.6% |
| Operating profit (loss)9901 | -€55 | -€57 | -€63 | -€526 | -€671 | ▼ 27.6% |
| Financial charges65/66B | - | - | - | €184 | €155 | ▼ 15.8% |
| Recurring financial charges65 | - | - | - | €184 | €155 | ▼ 15.8% |
| Profit (loss) for the period before taxes9903 | -€55 | -€57 | -€63 | -€710 | -€826 | ▼ 16.3% |
| Profit (loss) for the period9904 | -€55 | -€57 | -€63 | -€710 | -€826 | ▼ 16.3% |
| Profit (loss) for the period to be appropriated9905 | -€55 | -€57 | -€63 | -€710 | -€826 | ▼ 16.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | - | - | €12,100 | €12,405 | €12,250 | ▼ 1.2% |
| Current assets29/58 | - | - | €12,100 | €12,405 | €12,250 | ▼ 1.2% |
| Stocks and contracts in progress3 | - | - | €10,000 | €10,000 | €10,000 | = |
| Stocks30/36 | - | - | €10,000 | €10,000 | €10,000 | = |
| Amounts receivable within one year40/41 | - | - | €2,100 | €2,197 | - | - |
| Other amounts receivable41 | - | - | €2,100 | €2,197 | - | - |
| Cash at bank and in hand54/58 | - | - | - | €208 | €2,250 | ▲ 982% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €0 | €0 | €12,100 | €12,405 | €12,250 | ▼ 1.2% |
| Equity10/15 | -€225 | -€282 | -€345 | -€1,055 | -€1,881 | ▼ 78.3% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Capital10 | €6,200 | €6,200 | - | - | - | - |
| Issued capital100 | €18,600 | €18,600 | - | - | - | - |
| Uncalled capital101 | €12,400 | €12,400 | - | - | - | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Legal reserve130 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | -€8,285 | -€8,342 | -€8,405 | -€9,115 | -€9,941 | ▼ 9.1% |
| Amounts payable17/49 | €225 | €282 | €12,445 | €13,460 | €14,131 | ▲ 5.0% |
| Amounts payable within one year42/48 | €225 | €282 | €12,445 | €13,460 | €14,131 | ▲ 5.0% |
| Trade debts44 | - | - | €12,100 | €12,296 | €12,100 | ▼ 1.6% |
| Suppliers440/4 | - | - | €12,100 | €12,296 | €12,100 | ▼ 1.6% |
| Other amounts payable47/48 | €225 | €282 | €345 | €1,164 | €2,031 | ▲ 74.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€55 | -€57 | -€63 | -€710 | -€826 | ▼ 16.3% |
| Operating cash flow (approximation) | -€55 | -€57 | -€63 | -€710 | -€826 | ▼ 16.3% |
| Change in cash | - | - | - | - | €2,042 | - |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
23-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
22-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
27-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
25-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
05-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 5 days late
2019
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 26 days late
2018
20-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 51 days late
29-03
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 241 days late
NBB filing
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Trooz · 1 establishment unit since 2008
Ground area
4,551 m²
Building footprint
277 m²
Volume, LiDAR
847 m³
2 parcels, Wallonia · tallest building 6.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Rue de la Chera(LVG) 11, 4141 Sprimont
since 20082.175.529.757
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62041B0046/00R000 | Wallonia | 2,475 m² | 1 · 184 m² | 6.8 m · 2 fl. |
| 62067E1237/00A000 | Wallonia | 2,076 m² | 1 · 93 m² | - |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 173 companies in sector 46232 we hold annual accounts for 88. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded18-09-2008
Fiscal year end31-12
Activities, NACEBEL 2025
46232Wholesale trade
01430Raising of horses and other equines
E-invoicing
Reachable via Peppol
Peppol ID
0208:0806435135
Also
9925:BE0806435135
Registered
19-12-2025
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.