AVANGUARD
ActiveSummary
AVANGUARD has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €31k and a net result of €-2k. Equity is growing by ~27.2% per year across the filed fiscal years. Its solvency ranks better than 88% of 2699 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability12▲+10
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity ample (current ratio 8.41 against 30.9 in 2024; short-term debt: 11.9% and cash: 41.3% of total assets), and 11.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Computer programming, consultancy and related activities (NACE 62)
about 64% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
88.1%
Return on assets
-5.2%
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 €-2k
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 06-09-2026, 37 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 · 8 filingsDeviation from the deadline
2025
37 d late
2024
74 d late
2023
28 d late
2022
30 d late
2021
10 d late
2020
31 d late
2019
83 d late
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€31k▼ 5.6%
2024 · €33k
2018: €10k
2019: €5k▼ -47.6% vs 2018lowest in 8 years
2020: €6k▲ +23.8% vs 2019
2021: €8k▲ +20.6% vs 2020
2022: €40k▲ +418% vs 2021highest in 8 years
2023: €37k▼ -5.8% vs 2022
2024: €33k▼ -11.9% vs 2023
2025: €31k▼ -5.6% vs 2024
2018 → 2025
Total assets
€35k▲ 3.7%
2024 · €34k
2018: €17k
2019: €8k▼ -49.2% vs 2018
2020: €8k▼ -9.1% vs 2019lowest in 8 years
2021: €9k▲ +21.0% vs 2020
2022: €56k▲ +507% vs 2021
2023: €86k▲ +53.8% vs 2022highest in 8 years
2024: €34k▼ -60.4% vs 2023
2025: €35k▲ +3.7% vs 2024
2018 → 2025
Net result
€-2k▲ 58.2%
2024 · €-4k
2018: €4k
2019: €-5k▼ -229% vs 2018lowest in 8 years
2020: €1k▲ +126% vs 2019
2021: €1k▲ +7.0% vs 2020
2022: €32k▲ +2350% vs 2021highest in 8 years
2023: €-2k▼ -107% vs 2022
2024: €-4k▼ -93.5% vs 2023
2025: €-2k▲ +58.2% vs 2024
2018 → 2025
Working capital
€31k▼ 5.5%
2024 · €33k
2018: €9k
2019: €5k▼ -47.5% vs 2018lowest in 8 years
2020: €6k▲ +27.7% vs 2019
2021: €7k▲ +15.1% vs 2020
2022: €39k▲ +434% vs 2021highest in 8 years
2023: €37k▼ -4.8% vs 2022
2024: €33k▼ -11.4% vs 2023
2025: €31k▼ -5.5% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€8k-€40k▲ 418%€37k▼ 5.8%€33k▼ 11.9%€31k▼ 5.6%
2021: €8klowest in 5 years
2022: €40k▲ +418% vs 2021highest in 5 years
2023: €37k▼ -5.8% vs 2022
2024: €33k▼ -11.9% vs 2023
2025: €31k▼ -5.6% vs 2024
Operating result€2k-€48k▲ 3,099%€-2k€-4k▼ 106%€-2k▲ 62.6%
2021: €2k
2022: €48k▲ +3099% vs 2021highest in 5 years
2023: €-2k▼ -104% vs 2022
2024: €-4k▼ -106% vs 2023lowest in 5 years
2025: €-2k▲ +62.6% vs 2024
Net result€1k-€32k▲ 2,350%€-2k€-4k▼ 93.5%€-2k▲ 58.2%
2021: €1k
2022: €32k▲ +2350% vs 2021highest in 5 years
2023: €-2k▼ -107% vs 2022
2024: €-4k▼ -93.5% vs 2023lowest in 5 years
2025: €-2k▲ +58.2% vs 2024
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 stays negative: a loss of €2k in 2025 against €4k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €35k
Equity
€31k ▼ 5.6%
Debt
€4k ▲ 281%
Debt's share of the balance-sheet total rises from 3.2% to 11.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-2k▲
2024 · €-4k
Cash flow
€-2k▲
2024 · €-4k
Current ratio
8.41▼
2024 · 30.90
Debt to equity
0.13▲
2024 · 0.03
ROE
-6.0%▲
2024 · -13.5%
ROA
-5.2%▲
2024 · -13.0%
Interest coverage
-4.24▲
2024 · -15.19
Debt ≤ 1 year
€4k▲
2024 · €1k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 37 lines
Balance sheet
Code20242025
Assets
Total assets20/58€34k€35k▲
Fixed assets21/28€25-
Tangible fixed assets22/27€25-
Furniture and vehicles24€25-
Current assets29/58€34k€35k▲
Amounts receivable within one year40/41€12k€21k▲
Trade receivables40€873€1k▲
Other amounts receivable41€11k€19k▲
Cash at bank and in hand54/58€22k€15k▼
Equity and liabilities
Total equity and liabilities10/49€34k€35k▲
Equity10/15€33k€31k▼
Contributions10/11€6k€6k=
Outside capital11€6k€6k=
Other1109/19€6k€6k=
Reserves13€34k€34k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€32k€32k=
Profit (loss) carried forward14€-7k€-9k▼
Amounts payable17/49€1k€4k▲
Amounts payable within one year42/48€1k€4k▲
Current portion of amounts payable after more than one year42-€4k
Trade debts44€1k€702▼
Suppliers440/4€1k€702▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€184€25▼
Other operating charges640/8€22k€400▼
Gross operating margin9900€17k€-1k▼
Operating profit (loss)9901€-4k€-2k▲
Financial income75/76B€148€134▼
Recurring financial income75€148€134▼
Financial charges65/66B€272€375▲
Recurring financial charges65€272€375▲
Profit (loss) for the period before taxes9903€-4k€-2k▲
Profit (loss) for the period9904€-4k€-2k▲
Profit (loss) for the period to be appropriated9905€-4k€-2k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-7k€-9k▼
Profit (loss) brought forward from the previous period14P€-2k€-7k▼
The notes to these accounts (3 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4 | €277 | €184 | €184 | €25 | ▼ 86.6% |
| Other operating charges640/8 | €1k | - | €59k | €22k | €400 | ▼ 98.1% |
| Non-recurring operating charges66A | - | - | €230 | - | - | - |
| Gross operating margin9900 | €3k | €49k | €57k | €17k | €-1k | ▼ 107% |
| Operating profit (loss)9901 | €2k | €48k | €-2k | €-4k | €-2k | ▲ 62.6% |
| Financial income75/76B | - | - | - | €148 | €134 | ▼ 9.0% |
| Recurring financial income75 | - | - | - | €148 | €134 | ▼ 9.0% |
| Financial charges65/66B | €201 | €190 | €201 | €272 | €375 | ▲ 38.0% |
| Recurring financial charges65 | €201 | €190 | €201 | €272 | €375 | ▲ 38.0% |
| Profit (loss) for the period before taxes9903 | €1k | €48k | €-2k | €-4k | €-2k | ▲ 58.2% |
| Income taxes67/77 | - | €16k | - | - | - | - |
| Profit (loss) for the period9904 | €1k | €32k | €-2k | €-4k | €-2k | ▲ 58.2% |
| Profit (loss) for the period to be appropriated9905 | €1k | €32k | €-2k | €-4k | €-2k | ▲ 58.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €9k | €56k | €86k | €34k | €35k | ▲ 3.7% |
| Fixed assets21/28 | €347 | €623 | €209 | €25 | - | - |
| Tangible fixed assets22/27 | €347 | €623 | €209 | €25 | - | - |
| Furniture and vehicles24 | €347 | €623 | €209 | €25 | - | - |
| Current assets29/58 | €9k | €55k | €86k | €34k | €35k | ▲ 3.7% |
| Amounts receivable within one year40/41 | €5k | €55k | €34k | €12k | €21k | ▲ 79.2% |
| Trade receivables40 | €1k | €51k | €31k | €873 | €1k | ▲ 62.9% |
| Other amounts receivable41 | €4k | €4k | €3k | €11k | €19k | ▲ 80.6% |
| Cash at bank and in hand54/58 | €4k | €3 | €52k | €22k | €15k | ▼ 35.1% |
| Deferred charges and accrued income490/1 | €30 | - | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €9k | €56k | €86k | €34k | €35k | ▲ 3.7% |
| Equity10/15 | €8k | €40k | €37k | €33k | €31k | ▼ 5.6% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Outside capital11 | €6k | €6k | €6k | €6k | €6k | = |
| Other1109/19 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €2k | €34k | €34k | €34k | €34k | = |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | - | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | €2k | €32k | €32k | €32k | €32k | = |
| Profit (loss) carried forward14 | €-390 | - | €-2k | €-7k | €-9k | ▼ 27.5% |
| Amounts payable17/49 | €2k | €16k | €49k | €1k | €4k | ▲ 281% |
| Amounts payable within one year42/48 | €2k | €16k | €49k | €1k | €4k | ▲ 281% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €4k | - |
| Trade debts44 | €2k | €182 | €49k | €1k | €702 | ▼ 36.3% |
| Suppliers440/4 | €2k | €182 | €49k | €1k | €702 | ▼ 36.3% |
| Taxes, remuneration and social security45 | - | €16k | - | - | - | - |
| Taxes450/3 | - | €16k | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1k | €32k | €-2k | €-4k | €-2k | ▲ 58.2% |
| + Depreciation and write-downs630 | €4 | €277 | €184 | €184 | €25 | ▼ 86.6% |
| Operating cash flow (approximation) | €1k | €32k | €-2k | €-4k | €-2k | ▲ 57.0% |
| Investment in fixed assets (approximation) | - | €-553 | €230 | €0 | - | - |
| Change in cash | - | €-4k | €52k | €-29k | €-8k | ▲ 73.1% |
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
06-09
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 37 days late
2025
13-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 74 days late
2024
31-12
Financial
Liquidity times 17current ratio 30.90
Current ratio from 1.77 to 30.90; short-term debt falls from €49k to €1k.
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
31-12
Financial
Highest result since 2018net €32k ▲2,350%
Operating result €48k, net result €32k, both a record.
10-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 10 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Back to profitnet €1k
Net result €1k after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 6.06
Current ratio from 2.54 to 6.06; short-term debt falls from €3k to €1k.
22-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 83 days late
2019
31-12
Financial
Weakest financial yearnet €-5k
Net result drops to €-5k, the lowest in the series; recovery starts the following year.
13-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 44 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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 · 1 establishment unit since 2018
Ground area
1,907 m²
Building footprint
1,788 m²
Volume, LiDAR
27,322 m³
Parcel 21807G0089/00A007, Brussels · tallest building 32.0 m, ±2 floors. Linked by address, not a title deed.
227
companies at this address
See who is registered here
1 establishment unit
Louizalaan 143, 1050 Elsene
since 20182.274.976.731
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0089/00A007 | Brussels | 1,907 m² | 1 · 1,788 m² | 32.0 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.
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Of 29,993 companies in sector 62200 we hold annual accounts for 18,396. 14,345 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
Founded28-12-2017
Fiscal year end31-12
Activities, NACEBEL 2025
62200Computer consultancy and computer facilities management
68110Buying and selling of own real estate
70200Business and other management consultancy
78200Temporary employment agencies and other provision of personnel
82990Other business support services
85599Other education
Contact
E-mail
info@afinit-consulting.com
Phone
0478654465
Scores and ratios are computed by Checked and are not a credit decision.