AVG PROJECTS
InactiveInactive; last annual accounts for fiscal year 2026.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Persistent losses
Two consecutive loss-making years (2025 and 2026); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2026Net result per financial year
181920212223242526
2018 to 2026 · latest year -€1,656
neutral · Latest accounts filed on time
The financial year that closed on 25-03-2026 was due by 25-10-2026 and was filed on 13-07-2026, 104 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
104 d early
2025
151 d early
2024
37 d early
2023
26 d early
2022
31 d early
2021
39 d early
2020
38 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 61 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
Financials · fiscal year 2026, micro schema
Equity
€0▼ 100%
2025 · €75,361
Total assets
€44,184▼ 45.8%
2025 · €81,594
Net result
-€1,656▲ 62.1%
2025 · -€4,370
Working capital
€0▼ 100%
2025 · €80,761
Trend over the years
In euros
In euros
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20222023202420252026
Operating result€20,151▲ 25.2%€20,484▲ 1.6%€12,213▼ 40.4%-€6,585-€1,615▲ 75.5%
Net result€11,558▲ 31.0%€12,396▲ 7.2%€7,644▼ 38.3%-€4,370-€1,656▲ 62.1%
Equity€67,601▲ 20.6%€79,996▲ 18.3%€79,731▼ 0.3%€75,361▼ 5.5%€0▼ 100%
Total assets€123,118▲ 13.4%€87,012▼ 29.3%€84,933▼ 2.4%€81,594▼ 3.9%€44,184▼ 45.8%
Debt€55,517▲ 5.7%€7,016▼ 87.4%€5,202▼ 25.8%€1,333▼ 74.4%€44,184▲ 3,214%
Working capital€8,215€28,741▲ 250%€30,149▲ 4.9%€80,761▲ 168%€0▼ 100%
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 €1,615 in 2026 against €6,585 in 2025; the loss shrinks.
Key figures and ratios
Solvency
0.0%▼
2025 · 92.4%
Current ratio
1.00▼
2025 · 97.92
ROA
-3.7%▲
2025 · -5.4%
Debt ≤ 1 year
€44,184▲
2025 · €833
Income taxes
€0▼
2025 · €126
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,927 | €8,131 | €576 | €0 | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €3,421 | €0 | ▼ 100% |
| Other operating charges640/8 | €577 | €778 | €963 | €571 | €150 | ▼ 73.7% |
| Gross operating margin9900 | €28,656 | €29,393 | €13,752 | -€2,594 | -€1,465 | ▲ 43.5% |
| Operating profit (loss)9901 | €20,151 | €20,484 | €12,213 | -€6,585 | -€1,615 | ▲ 75.5% |
| Financial income75/76B | €0 | €0 | - | €47,926 | €0 | ▼ 100% |
| Recurring financial income75 | €0 | €0 | - | €47,926 | €0 | ▼ 100% |
| Financial charges65/66B | €1,694 | €728 | €260 | €45,585 | €41 | ▼ 99.9% |
| Recurring financial charges65 | €1,694 | €728 | €260 | €45,585 | €41 | ▼ 99.9% |
| Profit (loss) for the period before taxes9903 | €18,457 | €19,756 | €11,953 | -€4,244 | -€1,656 | ▲ 61.0% |
| Income taxes67/77 | €6,900 | €7,360 | €4,309 | €126 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €11,558 | €12,396 | €7,644 | -€4,370 | -€1,656 | ▲ 62.1% |
| Profit (loss) for the period to be appropriated9905 | €11,558 | €12,396 | €7,644 | -€4,370 | -€1,656 | ▲ 62.1% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €123,118 | €87,012 | €84,933 | €81,594 | €44,184 | ▼ 45.8% |
| Fixed assets21/28 | €60,064 | €51,934 | €51,357 | €0 | - | - |
| Tangible fixed assets22/27 | €10,064 | €1,933 | €1,356 | €0 | - | - |
| Plant, machinery and equipment23 | €551 | €429 | €308 | €0 | - | - |
| Furniture and vehicles24 | €9,513 | €1,503 | €1,049 | €0 | - | - |
| Financial fixed assets28 | €50,000 | €50,001 | €50,001 | €0 | - | - |
| Current assets29/58 | €63,055 | €35,079 | €33,575 | €81,594 | €44,184 | ▼ 45.8% |
| Stocks and contracts in progress3 | €4,247 | €3,188 | €3,421 | €0 | - | - |
| Stocks30/36 | €4,247 | €3,188 | €3,421 | €0 | - | - |
| Amounts receivable within one year40/41 | €7,740 | €10,700 | €12,666 | €33,922 | €6,015 | ▼ 82.3% |
| Trade receivables40 | €7,740 | €7,498 | €0 | €102 | €0 | ▼ 100% |
| Other amounts receivable41 | - | €3,202 | €12,666 | €33,821 | €6,015 | ▼ 82.2% |
| Cash at bank and in hand54/58 | €50,904 | €21,021 | €15,671 | €47,672 | €38,169 | ▼ 19.9% |
| Deferred charges and accrued income490/1 | €164 | €170 | €1,818 | €0 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €123,118 | €87,012 | €84,933 | €81,594 | €44,184 | ▼ 45.8% |
| Equity10/15 | €67,601 | €79,996 | €79,731 | €75,361 | €0 | ▼ 100% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €0 | ▼ 100% |
| Reserves13 | €49,001 | €61,396 | €61,131 | €59,271 | €0 | ▼ 100% |
| Distributable reserves133 | €49,001 | €61,396 | €61,131 | €59,271 | €0 | ▼ 100% |
| Profit (loss) carried forward14 | - | - | €0 | -€2,510 | €0 | ▲ 100% |
| Provisions and deferred taxes16 | - | - | - | €4,900 | €0 | ▼ 100% |
| Provisions for liabilities and charges160/5 | - | - | - | €4,900 | €0 | ▼ 100% |
| Environmental obligations163 | - | - | - | €4,900 | €0 | ▼ 100% |
| Amounts payable17/49 | €55,517 | €7,016 | €5,202 | €1,333 | €44,184 | ▲ 3,214% |
| Amounts payable after more than one year17 | €0 | - | - | - | - | - |
| Financial debts170/4 | €0 | - | - | - | - | - |
| Amounts payable within one year42/48 | €54,839 | €6,338 | €3,426 | €833 | €44,184 | ▲ 5,202% |
| Current portion of amounts payable after more than one year42 | €512 | €0 | - | - | - | - |
| Financial debts43 | €833 | €833 | €833 | €833 | €0 | ▼ 100% |
| Credit institutions430/8 | €833 | €833 | €833 | €833 | €0 | ▼ 100% |
| Trade debts44 | €1,761 | €194 | €1,093 | €0 | - | - |
| Suppliers440/4 | €1,761 | €194 | €1,093 | €0 | - | - |
| Taxes, remuneration and social security45 | €6,708 | €5,309 | €1,500 | €0 | - | - |
| Taxes450/3 | €6,708 | €5,309 | €1,500 | €0 | - | - |
| Other amounts payable47/48 | €45,025 | €1 | €0 | - | €44,184 | - |
| Accrued charges and deferred income492/3 | €678 | €678 | €1,776 | €500 | €0 | ▼ 100% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,558 | €12,396 | €7,644 | -€4,370 | -€1,656 | ▲ 62.1% |
| + Depreciation and write-downs630 | €7,927 | €8,131 | €576 | €0 | - | - |
| Operating cash flow (approximation) | €19,485 | €20,527 | €8,220 | -€4,370 | -€1,656 | ▲ 62.1% |
| Investment in fixed assets (approximation) | - | -€1 | €0 | €51,357 | - | - |
| Change in cash | - | -€29,883 | -€5,350 | €32,001 | -€9,503 | ▼ 130% |
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
2026
13-07
NBB filing
Annual accounts filed
fiscal year 2026 · micro schema
02-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€4,370
Net result drops to -€4,370, the lowest in the series.
31-12
Financial
Liquidity times 10current ratio 97.92
Current ratio from 9.80 to 97.92; short-term debt falls from €3,426 to €833.
24-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
05-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €12,396 ▲7.2%
Net result €12,396, the highest in the series.
31-12
Financial
Liquidity times 5current ratio 5.54
Current ratio from 1.15 to 5.54; short-term debt falls from €54,839 to €6,338.
30-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
22-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
23-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
24-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 24 days late
2019
21-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
22-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro 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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Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2024 list no shareholders, and no other source names one.
Holdings 1
-
24.46%
According to the 2024 annual accounts of AVG PROJECTS and those 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.