AUDAG
ActiveSummary
AUDAG has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.1m and a net result of -€86,145. Equity remains stable across the filed fiscal years (±0.1% per year). Its solvency ranks better than 58% of 1041 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability66▼-1
Solvency78▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €130,000 at 30 days acceptable
Liquidity short (current ratio 0.17 against 0.16 in 2024; short-term debt: 47% and cash: 4.9% of total assets), and 47% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Eight 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 25
Relative position
BE, all sectors
reference
Manufacture of fabricated metal products, except machinery and equipment (NACE 25)
about 50% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
53%
Return on assets
-2.1%
Age of the figures
9 mo
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 -€86,145
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-08-2026, 24 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 · 10 filingsDeviation from the deadline
2025
24 d late
2024
8 d early
2023
29 d early
2022
31 d late
2021
9 d late
2020
2 d early
2019
44 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 3 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% 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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#6 company by equity in the Brussels-Capital Region, Fabricated metal products sector#8 company by total assets in the Brussels-Capital Region, Fabricated metal products sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€86,145▼ 80.7%
2024 · -€47,675
Working capital
-€1.6m▲ 8.0%
2024 · -€1.7m
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, 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-€27,402-€84,039▼ 207%€10,605-€45,781-€83,774▼ 83.0%
Net result-€27,952below the sector's middle half-€84,206below the sector's middle half▼ 201%€12,456within the sector's middle half-€47,675below the sector's middle half-€86,145below the sector's middle half▼ 80.7%
Equity€2.4mwithin the sector's middle half▼ 1.2%€2.3mwithin the sector's middle half▼ 3.6%€2.3mabove the sector's middle half▲ 0.5%€2.2mabove the sector's middle half▼ 2.1%€2.1mabove the sector's middle half▼ 3.9%
Total assets€5.0mwithin the sector's middle half▼ 5.1%€4.6mwithin the sector's middle half▼ 9.2%€4.4mabove the sector's middle half▼ 2.8%€4.3mabove the sector's middle half▼ 2.9%€4.1mabove the sector's middle half▼ 5.6%
Debt€2.7m▼ 8.3%€2.3m▼ 14.2%€2.1m▼ 6.2%€2.1m▼ 3.8%€1.9m▼ 7.6%
Working capital-€2.2mbelow the sector's middle half▲ 7.7%-€2.1mbelow the sector's middle half▲ 6.5%-€1.9mbelow the sector's middle half▲ 10.9%-€1.7mbelow the sector's middle half▲ 8.0%-€1.6mbelow the sector's middle half▲ 8.0%
Solvency46.9%within the sector's middle half▲ 1.9pp49.8%within the sector's middle half▲ 2.9pp51.6%within the sector's middle half▲ 1.7pp52.0%within the sector's middle half▲ 0.4pp53.0%within the sector's middle half▲ 1.0pp
Current ratio0.16below the sector's middle half=0.08below the sector's middle half▼ 0.080.13below the sector's middle half▲ 0.050.16below the sector's middle half▲ 0.040.17below the sector's middle half▲ 0.01
Return on assets (ROA)-0.6%below the sector's middle half▼ 7.8pp-1.8%below the sector's middle half▼ 1.3pp0.3%within the sector's middle half▲ 2.1pp-1.1%below the sector's middle half▼ 1.4pp-2.1%below the sector's middle half▼ 1.0pp
Staff (FTE)0.9below the sector's middle half=1.5below the sector's middle half▲ 66.7%2▲ 33.3%2=1.7below the sector's middle half▼ 15.0%
above
within
below
the middle half (P25 to P75) of NACE 25, Manufacture of fabricated metal products, except machinery and equipment, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €83,774 in 2025 against €45,781 in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.1m
Fixed assets
€3.7m ▼ 5.7%
Current assets
€324,360 ▼ 4.5%
Equity and liabilities €4.1m
Equity
€2.1m ▼ 3.9%
Debt
€1.9m ▼ 7.6%
Debt's share of the balance-sheet total falls from 48.0% to 47.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€157,576▼
2024 · €192,633
Cash flow
€155,205▼
2024 · €190,739
Debt to equity
0.89▼
2024 · 0.92
ROE
-4.0%▼
2024 · -2.1%
Interest coverage
69.77▼
2024 · 93.33
Debt ≤ 1 year
€1.9m▼
2024 · €2.1m
Income taxes
€390▲
2024 · €333
Staff costs
€118,168▲
2024 · €95,327
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.6%
went bankrupt
8.5%
stopped otherwise
90%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 0.9% 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 12,321 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 | €57,946 | €78,927 | €89,376 | €95,327 | €118,168 | ▲ 24.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €240,721 | €240,855 | €235,853 | €238,414 | €241,350 | ▲ 1.2% |
| Other operating charges640/8 | €10,610 | €12,233 | €11,573 | €13,171 | €12,625 | ▼ 4.1% |
| Non-recurring operating charges66A | €2,900 | - | - | - | - | - |
| Gross operating margin9900 | €284,775 | €247,975 | €347,407 | €301,131 | €288,369 | ▼ 4.2% |
| Operating profit (loss)9901 | -€27,402 | -€84,039 | €10,605 | -€45,781 | -€83,774 | ▼ 83.0% |
| Financial income75/76B | €4 | €2 | €2,620 | €503 | €278 | ▼ 44.7% |
| Recurring financial income75 | €4 | €2 | €2,620 | €503 | €278 | ▼ 44.7% |
| Financial charges65/66B | €554 | €168 | €769 | €2,064 | €2,259 | ▲ 9.4% |
| Recurring financial charges65 | €554 | €168 | €769 | €2,064 | €2,259 | ▲ 9.4% |
| Profit (loss) for the period before taxes9903 | -€27,952 | -€84,206 | €12,456 | -€47,342 | -€85,754 | ▼ 81.1% |
| Income taxes67/77 | - | - | - | €333 | €390 | ▲ 17.3% |
| Profit (loss) for the period9904 | -€27,952 | -€84,206 | €12,456 | -€47,675 | -€86,145 | ▼ 80.7% |
| Profit (loss) for the period to be appropriated9905 | -€27,952 | -€84,206 | €12,456 | -€47,675 | -€86,145 | ▼ 80.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.0m | €4.6m | €4.4m | €4.3m | €4.1m | ▼ 5.6% |
| Fixed assets21/28 | €4.6m | €4.4m | €4.2m | €4.0m | €3.7m | ▼ 5.7% |
| Intangible fixed assets21 | €1,184 | - | - | - | €3,980 | - |
| Tangible fixed assets22/27 | €4.6m | €4.4m | €4.2m | €4.0m | €3.7m | ▼ 5.8% |
| Land and buildings22 | €4.4m | €4.2m | €4.0m | €3.8m | €3.6m | ▼ 5.5% |
| Plant, machinery and equipment23 | €151,059 | €133,656 | €119,671 | €117,232 | €109,509 | ▼ 6.6% |
| Furniture and vehicles24 | €39,278 | €35,882 | €38,874 | €35,504 | €22,415 | ▼ 36.9% |
| Leasing and similar rights25 | - | €1,223 | €978 | €734 | €489 | ▼ 33.3% |
| Other tangible fixed assets26 | - | - | €5,394 | €24,483 | €23,825 | ▼ 2.7% |
| Financial fixed assets28 | €550 | €550 | €550 | €550 | €550 | = |
| Current assets29/58 | €416,958 | €185,477 | €271,676 | €339,602 | €324,360 | ▼ 4.5% |
| Amounts receivable within one year40/41 | €111,449 | €101,323 | €89,156 | €79,213 | €114,205 | ▲ 44.2% |
| Trade receivables40 | €60,449 | €87,176 | €77,389 | €63,847 | €90,660 | ▲ 42.0% |
| Other amounts receivable41 | €51,000 | €14,147 | €11,767 | €15,366 | €23,544 | ▲ 53.2% |
| Cash at bank and in hand54/58 | €297,417 | €75,005 | €172,092 | €246,848 | €197,852 | ▼ 19.8% |
| Deferred charges and accrued income490/1 | €8,092 | €9,149 | €10,429 | €13,540 | €12,304 | ▼ 9.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.0m | €4.6m | €4.4m | €4.3m | €4.1m | ▼ 5.6% |
| Equity10/15 | €2.4m | €2.3m | €2.3m | €2.2m | €2.1m | ▼ 3.9% |
| Contributions10/11 | €2.6m | €2.6m | €2.6m | €2.6m | €2.6m | = |
| Capital10 | €2.6m | €2.6m | €2.6m | €2.6m | €2.6m | = |
| Issued capital100 | €2.6m | €2.6m | €2.6m | €2.6m | €2.6m | = |
| Revaluation surpluses12 | €850,000 | €850,000 | €850,000 | €850,000 | €850,000 | = |
| Reserves13 | €17,500 | €17,500 | €17,500 | €17,500 | €17,500 | = |
| Non-distributable reserves130/1 | €17,500 | €17,500 | €17,500 | €17,500 | €17,500 | = |
| Legal reserve130 | €17,500 | €17,500 | €17,500 | €17,500 | €17,500 | = |
| Profit (loss) carried forward14 | -€1.1m | -€1.2m | -€1.2m | -€1.2m | -€1.3m | ▼ 7.1% |
| Amounts payable17/49 | €2.7m | €2.3m | €2.1m | €2.1m | €1.9m | ▼ 7.6% |
| Amounts payable within one year42/48 | €2.7m | €2.3m | €2.1m | €2.1m | €1.9m | ▼ 7.4% |
| Trade debts44 | €19,674 | €6,376 | €19,180 | €54,827 | €49,842 | ▼ 9.1% |
| Suppliers440/4 | €19,674 | €6,376 | €19,180 | €54,827 | €49,842 | ▼ 9.1% |
| Taxes, remuneration and social security45 | €24,598 | €27,565 | €29,418 | €43,330 | €29,206 | ▼ 32.6% |
| Taxes450/3 | €15,205 | €11,927 | €13,666 | €27,065 | €11,041 | ▼ 59.2% |
| Remuneration and social security454/9 | €9,393 | €15,638 | €15,752 | €16,265 | €18,165 | ▲ 11.7% |
| Other amounts payable47/48 | €2.6m | €2.3m | €2.1m | €2.0m | €1.8m | ▼ 6.8% |
| Accrued charges and deferred income492/3 | - | - | €1,858 | €3,500 | €401 | ▼ 88.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€27,952 | -€84,206 | €12,456 | -€47,675 | -€86,145 | ▼ 80.7% |
| + Depreciation and write-downs630 | €240,721 | €240,855 | €235,853 | €238,414 | €241,350 | ▲ 1.2% |
| Operating cash flow (approximation) | €212,769 | €156,649 | €248,309 | €190,739 | €155,205 | ▼ 18.6% |
| Investment in fixed assets (approximation) | - | -€10,303 | -€20,218 | -€41,658 | -€13,823 | ▲ 66.8% |
| Change in cash | - | -€222,412 | €97,087 | €74,756 | -€48,996 | ▼ 166% |
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
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 24 days late
2025
23-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €12,456
Net result €12,456 after 2 loss-making years.
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 31 days late
2022
09-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 9 days late
2021
29-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
31-12
Financial
Back to profitnet €384,904
Net result €384,904 after 2 loss-making years.
31-12
Financial
Equity above €2mEq €2.4m ▲19.3%
Equity rises from €2.0m to €2.4m.
17-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
09-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 28 days late
2017
07-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 38 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Elsene · 2 establishment units since 1987
Ground area
8,179 m²
Building footprint
2,799 m²
Volume, LiDAR
24,612 m³
2 parcels, Brussels, Flanders · tallest building 22.4 m, ±3 floors. Linked by address, not a title deed.
162
companies at this address
See who is registered here
2 establishment units
Gachardstraat 88, 1050 Elsene
since 19872.030.521.388
Zaventem Ateliers
since 20182.280.756.842
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23094D0126/00T003 | Flanders | 6,513 m² | 1 · 2,799 m² | 22.4 m · 3 fl. |
| 21807G0149/00W000 | Brussels | 1,666 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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Of 559 companies in sector 25999 we hold annual accounts for 354. 207 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
Founded09-09-1987
Fiscal year end31-12
Activities, NACEBEL 2025
25999Manufacture of fabricated metal products, except machinery and equipment
90120Visual arts creation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0431966734
Also
9925:BE0431966734
Registered
16-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.