ATHAGO
ActiveSummary
ATHAGO has been active since 1971 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €299,539 and a net result of -€138,707. Equity remains stable across the filed fiscal years (±0.1% per year). Its solvency ranks better than 56% of 7564 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-3
Solvency74▲+1
Growth32=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €14,000 at 30 days acceptable
Liquidity tight (current ratio 1.09 against 1.37 in 2024; short-term debt: 42.7% and cash: 1.9% of total assets), and 51.1% of the assets are financed with debt.
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Signals
Five 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 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€138,707
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 11-06-2026, 50 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
50 d early
2024
44 d early
2023
84 d early
2022
45 d early
2021
83 d early
2020
43 d early
2019
63 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 59 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
In the rankings
#1 oldest company in Zoersel, Construction sector
Source amounts without an identifiable currency are assumed to be EUR.
Equity
€299,539▼ 31.7%
2024 · €438,245
Total assets
€612,623▼ 33.0%
2024 · €914,253
Net result
-€138,707▼ 23.4%
2024 · -€112,391
Working capital
€24,308▼ 83.2%
2024 · €144,343
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€71,365▲ 36.2%€7,332▼ 89.7%€8,191▲ 11.7%-€97,800-€123,095▼ 25.9%
Net result€55,201▲ 160%€1,189▼ 97.8%€236▼ 80.2%-€112,391-€138,707▼ 23.4%
Equity€549,211▲ 6.0%€550,400▲ 0.2%€550,636=€438,245▼ 20.4%€299,539▼ 31.7%
Total assets€1.1m▼ 11.5%€944,823▼ 13.9%€1.1m▲ 12.7%€914,253▼ 14.1%€612,623▼ 33.0%
Debt€547,587▼ 24.0%€394,423▼ 28.0%€514,161▲ 30.4%€476,008▼ 7.4%€313,084▼ 34.2%
Working capital€408,803▼ 1.2%€424,689▲ 3.9%€369,895▼ 12.9%€144,343▼ 61.0%€24,308▼ 83.2%
Staff (FTE)8▲ 6.7%9▲ 12.5%3.9▼ 56.7%1▼ 74.4%0.8▼ 20.0%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Why a figure moved sharply
- 2023 Staff (FTE) -57% on 2022. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €123,095 in 2025 against €97,800 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €612,623
Fixed assets
€326,892 ▼ 14.6%
Current assets
€285,731 ▼ 46.3%
Equity and liabilities €612,623
Equity
€299,539 ▼ 31.7%
Debt
€313,084 ▼ 34.2%
Debt's share of the balance-sheet total falls from 52.1% to 51.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€85,685▼
2024 · -€64,150
Cash flow
-€101,296▼
2024 · -€78,741
Current ratio
1.09▼
2024 · 1.37
Quick ratio
0.35▼
2024 · 0.97
Debt to equity
1.05▼
2024 · 1.09
ROE
-46.3%▼
2024 · -25.6%
ROA
-22.6%▼
2024 · -12.3%
Interest coverage
-5.49▼
2024 · -4.39
Debt ≤ 1 year
€261,423▼
2024 · €387,339
Debt > 1 year
€49,603▼
2024 · €88,669
Staff costs
€51,077▼
2024 · €77,295
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,827 companies that looked in July 2024 the way this one looks now, 1.5% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
1.5%
went bankrupt
14%
stopped otherwise
84%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 497,058 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% | 1.6% |
| 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 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 5,827 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 | €0 | €568 | €5,430 | €0 | - | - |
| Remuneration, social security and pensions62 | €473,820 | €572,388 | €254,547 | €77,295 | €51,077 | ▼ 33.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €27,944 | €24,456 | €26,393 | €33,650 | €37,411 | ▲ 11.2% |
| Other operating charges640/8 | €26,643 | €8,952 | €7,774 | €5,130 | €8,040 | ▲ 56.7% |
| Non-recurring operating charges66A | - | - | €8,560 | - | - | - |
| Gross operating margin9900 | €599,771 | €613,128 | €305,464 | €18,274 | -€26,568 | ▼ 245% |
| Operating profit (loss)9901 | €71,365 | €7,332 | €8,191 | -€97,800 | -€123,095 | ▼ 25.9% |
| Financial income75/76B | €2,754 | €1,919 | €34 | €12 | €2 | ▼ 84.6% |
| Recurring financial income75 | €2,754 | €1,919 | €34 | €12 | €2 | ▼ 84.6% |
| Financial charges65/66B | €7,407 | €7,680 | €7,989 | €14,602 | €15,613 | ▲ 6.9% |
| Recurring financial charges65 | €7,407 | €7,680 | €7,989 | €14,602 | €15,613 | ▲ 6.9% |
| Profit (loss) for the period before taxes9903 | €66,711 | €1,571 | €236 | -€112,391 | -€138,707 | ▼ 23.4% |
| Income taxes67/77 | €11,510 | €382 | €0 | - | - | - |
| Profit (loss) for the period9904 | €55,201 | €1,189 | €236 | -€112,391 | -€138,707 | ▼ 23.4% |
| Profit (loss) for the period to be appropriated9905 | €55,201 | €1,189 | €236 | -€112,391 | -€138,707 | ▼ 23.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.1m | €944,823 | €1.1m | €914,253 | €612,623 | ▼ 33.0% |
| Fixed assets21/28 | €270,538 | €274,210 | €328,629 | €382,571 | €326,892 | ▼ 14.6% |
| Tangible fixed assets22/27 | €228,807 | €227,539 | €294,047 | €347,990 | €310,579 | ▼ 10.8% |
| Land and buildings22 | €193,793 | €203,689 | €230,727 | €297,602 | €276,106 | ▼ 7.2% |
| Plant, machinery and equipment23 | €29,699 | €22,702 | €8,217 | €5,105 | €1,992 | ▼ 61.0% |
| Furniture and vehicles24 | €5,315 | €1,148 | €55,104 | €45,284 | €32,481 | ▼ 28.3% |
| Financial fixed assets28 | €41,731 | €46,671 | €34,581 | €34,581 | €16,313 | ▼ 52.8% |
| Current assets29/58 | €826,261 | €670,613 | €736,168 | €531,682 | €285,731 | ▼ 46.3% |
| Stocks and contracts in progress3 | €214,674 | €12,750 | €85,257 | €156,146 | €194,987 | ▲ 24.9% |
| Stocks30/36 | €19,450 | €12,750 | €7,057 | €4,793 | €4,793 | = |
| Contracts in progress37 | €195,224 | €0 | €78,200 | €151,353 | €190,194 | ▲ 25.7% |
| Amounts receivable within one year40/41 | €112,991 | €561,530 | €623,881 | €312,474 | €73,123 | ▼ 76.6% |
| Trade receivables40 | €108,773 | €251,364 | €53,002 | €58,108 | €21,837 | ▼ 62.4% |
| Other amounts receivable41 | €4,218 | €310,166 | €570,878 | €254,367 | €51,286 | ▼ 79.8% |
| Cash at bank and in hand54/58 | €487,385 | €81,306 | €19,932 | €57,471 | €11,646 | ▼ 79.7% |
| Deferred charges and accrued income490/1 | €11,211 | €15,026 | €7,099 | €5,591 | €5,975 | ▲ 6.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.1m | €944,823 | €1.1m | €914,253 | €612,623 | ▼ 33.0% |
| Equity10/15 | €549,211 | €550,400 | €550,636 | €438,245 | €299,539 | ▼ 31.7% |
| Contributions10/11 | €65,000 | €65,000 | €65,000 | €65,000 | €65,000 | = |
| Capital10 | €65,000 | €65,000 | €65,000 | €65,000 | €65,000 | = |
| Issued capital100 | €65,000 | €65,000 | €65,000 | €65,000 | €65,000 | = |
| Revaluation surpluses12 | €129,466 | €129,466 | €129,466 | €129,466 | €129,466 | = |
| Reserves13 | €340,500 | €340,500 | €340,500 | €340,500 | €340,500 | = |
| Non-distributable reserves130/1 | €6,500 | €6,500 | €6,500 | €6,500 | €6,500 | = |
| Legal reserve130 | €6,500 | €6,500 | €6,500 | €6,500 | €6,500 | = |
| Distributable reserves133 | €334,000 | €334,000 | €334,000 | €334,000 | €334,000 | = |
| Profit (loss) carried forward14 | €14,245 | €15,434 | €15,670 | -€96,721 | -€235,428 | ▼ 143% |
| Amounts payable17/49 | €547,587 | €394,423 | €514,161 | €476,008 | €313,084 | ▼ 34.2% |
| Amounts payable after more than one year17 | €130,130 | €148,499 | €147,887 | €88,669 | €49,603 | ▼ 44.1% |
| Financial debts170/4 | €130,130 | €148,499 | €147,887 | €88,669 | €49,603 | ▼ 44.1% |
| Amounts payable within one year42/48 | €417,458 | €245,924 | €366,273 | €387,339 | €261,423 | ▼ 32.5% |
| Current portion of amounts payable after more than one year42 | €10,619 | €23,151 | €23,610 | €141,101 | €39,065 | ▼ 72.3% |
| Financial debts43 | €2,520 | €1,000 | €0 | €190,000 | €190,000 | = |
| Credit institutions430/8 | €2,520 | €1,000 | €0 | €190,000 | €190,000 | = |
| Trade debts44 | €335,517 | €195,473 | €249,174 | €39,064 | €17,831 | ▼ 54.4% |
| Suppliers440/4 | €335,517 | €195,473 | €249,174 | €39,064 | €17,831 | ▼ 54.4% |
| Advances received on contracts in progress46 | - | - | €66,278 | €0 | - | - |
| Taxes, remuneration and social security45 | €33,809 | €14,994 | €15,456 | €15,805 | €2,968 | ▼ 81.2% |
| Taxes450/3 | €11,918 | €4,144 | €193 | €11,155 | €2,968 | ▼ 73.4% |
| Remuneration and social security454/9 | €21,890 | €10,850 | €15,262 | €4,650 | €0 | ▼ 100% |
| Other amounts payable47/48 | €34,992 | €11,305 | €11,756 | €1,370 | €11,558 | ▲ 744% |
| Accrued charges and deferred income492/3 | - | - | - | - | €2,058 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €55,201 | €1,189 | €236 | -€112,391 | -€138,707 | ▼ 23.4% |
| + Depreciation and write-downs630 | €27,944 | €24,456 | €26,393 | €33,650 | €37,411 | ▲ 11.2% |
| Operating cash flow (approximation) | €83,146 | €25,645 | €26,629 | -€78,741 | -€101,296 | ▼ 28.6% |
| Investment in fixed assets (approximation) | - | -€28,129 | -€80,812 | -€87,592 | €18,268 | ▲ 121% |
| Change in cash | - | -€406,079 | -€61,375 | €37,540 | -€45,825 | ▼ 222% |
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
11-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€138,707
Net result drops to -€138,707, the lowest in the series.
17-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
08-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
16-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
09-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
18-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Equity above €500,000Eq €518,010 ▲4.3%
3 profitable years in a row build equity to €518,010.
29-05
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Highest result since 2018net €70,474 ▲88%
Operating result €120,429, net result €70,474, both a record.
13-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
26-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
03-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Zoersel · 1 establishment unit since 1971
Ground area
1,770 m²
Building footprint
535 m²
Volume, LiDAR
3,073 m³
Parcel 11453I0309/00E000, Flanders · tallest building 6.6 m, ±2 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
1 establishment unit
ATHAGO NV
since 19712.005.446.987
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11453I0309/00E000 | Flanders | 1,770 m² | 1 · 535 m² | 6.6 m · 2 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 6 entries · 35,786 EUR awarded · 35,786 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,985 EUR | 2,985 EUR |
| 2023 | 2 | 21,224 EUR | 21,224 EUR |
| 2022 | 3 | 11,577 EUR | 11,577 EUR |
Recognitions · licences · registrations
Recognised contractor
13 categoriesATHAGO NV13040
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Of 29,787 companies in sector 41001 we hold annual accounts for 16,042. 10,986 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded01-01-1971
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
Contact
E-mail
info@athago.be
Phone
033/83.07.86
E-invoicing
Reachable via Peppol
Peppol ID
0208:0407980317
Also
9925:BE0407980317
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.