ATHREE
ActiveSummary
ATHREE has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €533,606 and a net result of €60,041. Equity is growing by ~19.1% per year across the filed fiscal years. Its solvency ranks better than 51% of 407 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability75▼-3
Solvency73▼-1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40,000 at 30 days acceptable
Liquidity ample (current ratio 3.1 against 2.12 in 2024; short-term debt: 28.3% and cash: 32% of total assets), but 52.3% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
47.7%
Return on assets
5.4%
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
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 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
28 d early
2023
37 d early
2022
47 d early
2021
46 d early
2020
27 d early
2019
74 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 37 days before the deadline; the sector median for financial year 2024 is 11 days before the deadline, and 32% 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, abbreviated schema
Equity
€533,606▲ 12.7%
2024 · €473,565
Total assets
€1.1m▲ 15.2%
2024 · €969,838
Net result
€60,041▼ 15.5%
2024 · €71,016
Working capital
€664,197▲ 61.8%
2024 · €410,381
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-€5,093▼ 4.7%€13,697€78,580▲ 474%€100,679▲ 28.1%€83,273▼ 17.3%
Net result-€5,102▼ 2.5%€12,790€48,407▲ 278%€71,016▲ 46.7%€60,041▼ 15.5%
Equity€237,403▼ 2.1%€250,193▲ 5.4%€301,912▲ 20.7%€473,565▲ 56.9%€533,606▲ 12.7%
Total assets€239,122▼ 2.0%€252,320▲ 5.5%€839,134▲ 233%€969,838▲ 15.6%€1.1m▲ 15.2%
Debt€1,719▲ 6.2%€2,127▲ 23.7%€537,222▲ 25,155%€496,273▼ 7.6%€583,973▲ 17.7%
Working capital€238,403▼ 2.1%€250,533▲ 5.1%€290,328▲ 15.9%€410,381▲ 41.4%€664,197▲ 61.8%
Staff (FTE)3.65.2▲ 44.4%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 17% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€136,688 ▼ 29.7%
Current assets
€980,891 ▲ 26.5%
Equity and liabilities €1.1m
Equity
€533,606 ▲ 12.7%
Debt
€583,973 ▲ 17.7%
Debt's share of the balance-sheet total rises from 51.2% to 52.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€140,668▼
2024 · €154,853
Cash flow
€117,436▼
2024 · €125,190
Current ratio
3.10▲
2024 · 2.12
Quick ratio
2.30▲
2024 · 1.75
Debt to equity
1.09▲
2024 · 1.05
ROE
11.3%▼
2024 · 15.0%
ROA
5.4%▼
2024 · 7.3%
Interest coverage
29.83▼
2024 · 32.03
Debt ≤ 1 year
€316,694▼
2024 · €365,132
Debt > 1 year
€37,300▼
2024 · €60,089
Income taxes
€22,311▼
2024 · €25,355
Staff costs
€274,357▲
2024 · €170,447
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 34,672 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.6%
went bankrupt
3.9%
stopped otherwise
95%
still going
A further 0.2% 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 34,672 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €171,528 | €170,447 | €274,357 | ▲ 61.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €33,905 | €54,174 | €57,395 | ▲ 5.9% |
| Other operating charges640/8 | - | €824 | €1,062 | €1,032 | €1,206 | ▲ 16.8% |
| Non-recurring operating charges66A | - | €50 | €0 | - | - | - |
| Gross operating margin9900 | -€4,295 | €14,572 | €285,075 | €326,333 | €416,231 | ▲ 27.5% |
| Operating profit (loss)9901 | -€5,093 | €13,697 | €78,580 | €100,679 | €83,273 | ▼ 17.3% |
| Financial income75/76B | - | €0 | €2,175 | €527 | €3,795 | ▲ 619% |
| Recurring financial income75 | €78 | €0 | €2,175 | €527 | €3,795 | ▲ 619% |
| Financial charges65/66B | - | €57 | €12,671 | €4,835 | €4,715 | ▼ 2.5% |
| Recurring financial charges65 | €87 | €57 | €12,671 | €4,835 | €4,715 | ▼ 2.5% |
| Profit (loss) for the period before taxes9903 | -€5,102 | €13,640 | €68,085 | €96,372 | €82,352 | ▼ 14.5% |
| Income taxes67/77 | - | €850 | €19,678 | €25,355 | €22,311 | ▼ 12.0% |
| Profit (loss) for the period9904 | -€5,102 | €12,790 | €48,407 | €71,016 | €60,041 | ▼ 15.5% |
| Profit (loss) for the period to be appropriated9905 | -€5,102 | €12,790 | €48,407 | €71,016 | €60,041 | ▼ 15.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €239,122 | €252,320 | €839,134 | €969,838 | €1.1m | ▲ 15.2% |
| Fixed assets21/28 | - | - | €210,748 | €194,325 | €136,688 | ▼ 29.7% |
| Tangible fixed assets22/27 | - | - | €210,748 | €194,325 | €136,688 | ▼ 29.7% |
| Land and buildings22 | - | - | €114,502 | €96,622 | €72,588 | ▼ 24.9% |
| Plant, machinery and equipment23 | - | - | €55,472 | €66,983 | €11,128 | ▼ 83.4% |
| Furniture and vehicles24 | - | - | €40,774 | €30,721 | €52,972 | ▲ 72.4% |
| Current assets29/58 | €239,122 | €252,320 | €628,386 | €775,513 | €980,891 | ▲ 26.5% |
| Stocks and contracts in progress3 | - | - | €138,371 | €135,051 | €251,927 | ▲ 86.5% |
| Stocks30/36 | - | - | €57,488 | €106,944 | €81,788 | ▼ 23.5% |
| Contracts in progress37 | - | - | €80,883 | €28,106 | €170,139 | ▲ 505% |
| Amounts receivable within one year40/41 | €1,569 | €5,387 | €421,317 | €363,238 | €367,517 | ▲ 1.2% |
| Trade receivables40 | - | - | €400,596 | €335,675 | €322,127 | ▼ 4.0% |
| Other amounts receivable41 | - | €5,387 | €20,720 | €27,564 | €45,390 | ▲ 64.7% |
| Cash at bank and in hand54/58 | €237,554 | €246,933 | €68,698 | €277,223 | €357,100 | ▲ 28.8% |
| Deferred charges and accrued income490/1 | - | - | - | - | €4,347 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €239,122 | €252,320 | €839,134 | €969,838 | €1.1m | ▲ 15.2% |
| Equity10/15 | €237,403 | €250,193 | €301,912 | €473,565 | €533,606 | ▲ 12.7% |
| Contributions10/11 | - | €6,200 | €9,512 | €110,149 | €110,149 | = |
| Reserves13 | €223,345 | €223,345 | €292,400 | €363,416 | €423,457 | ▲ 16.5% |
| Non-distributable reserves130/1 | - | €3,312 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | €3,312 | €0 | - | - | - |
| Distributable reserves133 | - | €220,034 | €292,400 | €363,416 | €423,457 | ▲ 16.5% |
| Profit (loss) carried forward14 | €7,857 | €20,648 | €0 | - | - | - |
| Amounts payable17/49 | €1,719 | €2,127 | €537,222 | €496,273 | €583,973 | ▲ 17.7% |
| Amounts payable after more than one year17 | - | - | €71,115 | €60,089 | €37,300 | ▼ 37.9% |
| Financial debts170/4 | - | - | €71,115 | €60,089 | €37,300 | ▼ 37.9% |
| Amounts payable within one year42/48 | €719 | €1,787 | €338,058 | €365,132 | €316,694 | ▼ 13.3% |
| Current portion of amounts payable after more than one year42 | - | - | €26,748 | €27,253 | €22,789 | ▼ 16.4% |
| Trade debts44 | €719 | €873 | €216,708 | €266,507 | €260,444 | ▼ 2.3% |
| Suppliers440/4 | - | €873 | €216,708 | €266,507 | €260,444 | ▼ 2.3% |
| Taxes, remuneration and social security45 | - | €914 | €44,422 | €21,372 | €33,461 | ▲ 56.6% |
| Taxes450/3 | - | €914 | €21,418 | €380 | €5,399 | ▲ 1,321% |
| Remuneration and social security454/9 | - | - | €23,003 | €20,992 | €28,062 | ▲ 33.7% |
| Other amounts payable47/48 | - | - | €50,180 | €50,000 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | €340 | €128,049 | €71,052 | €229,979 | ▲ 224% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€5,102 | €12,790 | €48,407 | €71,016 | €60,041 | ▼ 15.5% |
| + Depreciation and write-downs630 | - | - | €33,905 | €54,174 | €57,395 | ▲ 5.9% |
| Operating cash flow (approximation) | -€5,102 | €12,790 | €82,312 | €125,190 | €117,436 | ▼ 6.2% |
| Investment in fixed assets (approximation) | - | - | - | -€37,751 | €242 | ▲ 101% |
| Change in cash | - | €9,379 | -€178,235 | €208,525 | €79,877 | ▼ 61.7% |
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
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Equity above €500,000Eq €533,606 ▲12.7%
4 profitable years in a row build equity to €533,606.
03-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2019net €71,016 ▲46.7%
Operating result €100,679, net result €71,016, both a record.
24-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2022
15-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
30-06
Financial
Back to profitnet €12,790
Net result €12,790 after 2 loss-making years.
2021
16-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
30-06
Financial
Weakest financial yearnet -€5,102
Net result drops to -€5,102, the lowest in the series; recovery starts the following year.
04-01
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
18-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
05-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 64 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
29-11
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 11 acts read
About the unread acts
We know of 11 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
11 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, Willebroek · 1 establishment unit since 2010
Ground area
1,872 m²
Building footprint
1.2 ha
Volume, LiDAR
78,321 m³
Parcel 12040A0193/00G000, Flanders · tallest building 8.5 m, ±2 floors. Linked by address, not a title deed.
21
companies at this address
See who is registered here
1 establishment unit
ATHREE
since 20102.192.266.613
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 12040A0193/00G000 | Flanders | 1,872 m² | 1 · 1.2 ha | 8.4 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.
Structure & network
Owners and holdings
1 ownerOwners 1
-
25%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Public money · subsidies and aid
Flemish government
2023 to 2025 · 3 entries · 10,768 EUR awarded · 9,083 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,985 EUR | 2,010 EUR |
| 2024 | 1 | 1,950 EUR | 1,950 EUR |
| 2023 | 1 | 5,833 EUR | 5,123 EUR |
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Of 346 companies in sector 28990 we hold annual accounts for 278. 192 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
Founded05-10-2010
Fiscal year end31-12
Activities, NACEBEL 2025
28990Manufacture of machinery and equipment not elsewhere classified
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0829994653
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.