AZ Advisory
ActiveSummary
AZ Advisory has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €260,175 and a net result of €95,227. Equity is growing by ~52.7% per year across the filed fiscal years. Its solvency ranks better than 37% of 17601 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
What stands out
Overview
0 of 2 deeds readAccounts 8 d earlyTurnover not published (abridged schema)
Why 81- Limited track record+ Lower-failure-rate sector+ Annual accounts: healthy financial profileLatest accounts filed on timeShow the evidence
Checked score
Score 2025
Axes · tick = 2024
Profitability89=
Solvency69▲+9
Growth78▲+26
Track record94
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €21,000 at 30 days acceptable
Liquidity ample (current ratio 2.6 against 1.95 in 2024; short-term debt: 12.1% and cash: 27.8% of total assets), but 56.1% of the assets are financed with debt.
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Signals
Four 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 · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
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
43.9%
Return on assets
16.1%
Age of the figures
9 mo
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 23-07-2026, 8 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
8 d early
2024
13 d late
2023
36 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 3 accounts on average 10 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 33% 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. Usually files around 23 July (3 of the last 3 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
- Annual accounts filedfiscal year 2025 · micro…
- Highest result since 2023net €95,227 ▲21.2%
- Equity above €200,000Eq €260,175 ▲57.7%
Financials
Fiscal year 2025Total assets €592,966Profit €95,227Solvency 43.9%Liquidity 2.60
Total assets
€592,966▲ 24.8%
2023 - 2025
Net result
€95,227▲ 21.2%
2023 - 2025
Equity
€260,175▲ 57.7%
2023 - 2025
Solvency
43.9%▲ 9.1pp
2023 - 2025
Financials · fiscal year 2025, micro schema
Trend over the years
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
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.Sector: the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line202320242025
Operating result€109,679-€108,701▼ 0.9%€139,341▲ 28.2%
Net result€83,904above the sector's middle half-€78,543above the sector's middle half▼ 6.4%€95,227above the sector's middle half▲ 21.2%
Equity€86,404within the sector's middle half-€164,948above the sector's middle half▲ 90.9%€260,175above the sector's middle half▲ 57.7%
Total assets€119,431within the sector's middle half-€474,966above the sector's middle half▲ 298%€592,966above the sector's middle half▲ 24.8%
Debt€33,026-€310,019▲ 839%€332,791▲ 7.3%
Working capital€81,401within the sector's middle half-€37,759within the sector's middle half▼ 53.6%€115,295within the sector's middle half▲ 205%
Solvency72.3%within the sector's middle half-34.7%within the sector's middle half▼ 37.6pp43.9%within the sector's middle half▲ 9.1pp
Current ratio3.46within the sector's middle half-1.95within the sector's middle half▼ 1.522.60within the sector's middle half▲ 0.65
Return on assets (ROA)70.3%above the sector's middle half-16.5%within the sector's middle half▼ 53.7pp16.1%within the sector's middle half▼ 0.5pp
above
within
below
the middle half (P25 to P75) of NACE 62, Computer programming, consultancy and related activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result and balance sheet
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 28% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €592,966
Fixed assets
€405,741 ▲ 2.1%
Current assets
€187,225 ▲ 141%
Equity and liabilities €592,966
Equity
€260,175 ▲ 57.7%
Debt
€332,791 ▲ 7.3%
Debt's share of the balance-sheet total falls from 65.3% to 56.1%. Equity and debt are higher.
Key figures and ratios
Key figures and ratios
EBITDA
€151,975▲
2024 · €114,269
Cash flow
€107,862▲
2024 · €84,111
Debt to equity
1.28▼
2024 · 1.88
ROE
36.6%▼
2024 · 47.6%
Interest coverage
8.66▼
2024 · 11.82
Debt ≤ 1 year
€71,930▲
2024 · €39,819
Debt > 1 year
€260,861▼
2024 · €270,200
Income taxes
€26,555▲
2024 · €20,491
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,126 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 97% are still going.
- Small
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.8%
went bankrupt
1.9%
stopped otherwise
97%
still going
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 497,341 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 3,126 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.
Filed annual accounts
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €355 | €5,567 | €12,634 | ▲ 127% |
| Other operating charges640/8 | - | €544 | €1,815 | ▲ 234% |
| Gross operating margin9900 | €110,034 | €114,813 | €153,791 | ▲ 33.9% |
| Operating profit (loss)9901 | €109,679 | €108,701 | €139,341 | ▲ 28.2% |
| Financial charges65/66B | €3,923 | €9,667 | €17,559 | ▲ 81.6% |
| Recurring financial charges65 | €3,923 | €9,667 | €17,559 | ▲ 81.6% |
| Profit (loss) for the period before taxes9903 | €105,756 | €99,034 | €121,782 | ▲ 23.0% |
| Income taxes67/77 | €21,851 | €20,491 | €26,555 | ▲ 29.6% |
| Profit (loss) for the period9904 | €83,904 | €78,543 | €95,227 | ▲ 21.2% |
| Profit (loss) for the period to be appropriated9905 | €83,904 | €78,543 | €95,227 | ▲ 21.2% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €119,431 | €474,966 | €592,966 | ▲ 24.8% |
| Fixed assets21/28 | €5,003 | €397,389 | €405,741 | ▲ 2.1% |
| Tangible fixed assets22/27 | €5,003 | €397,389 | €405,741 | ▲ 2.1% |
| Land and buildings22 | - | €391,844 | €401,611 | ▲ 2.5% |
| Furniture and vehicles24 | €5,003 | €5,545 | €4,130 | ▼ 25.5% |
| Current assets29/58 | €114,427 | €77,577 | €187,225 | ▲ 141% |
| Amounts receivable within one year40/41 | €15,581 | €18,422 | €22,662 | ▲ 23.0% |
| Trade receivables40 | €15,581 | €18,422 | €21,588 | ▲ 17.2% |
| Other amounts receivable41 | - | - | €1,074 | - |
| Cash at bank and in hand54/58 | €98,846 | €59,155 | €164,563 | ▲ 178% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €119,431 | €474,966 | €592,966 | ▲ 24.8% |
| Equity10/15 | €86,404 | €164,948 | €260,175 | ▲ 57.7% |
| Contributions10/11 | €2,500 | €2,500 | €2,500 | = |
| Reserves13 | €83,904 | €162,448 | €257,675 | ▲ 58.6% |
| Distributable reserves133 | €83,904 | €162,448 | €257,675 | ▲ 58.6% |
| Amounts payable17/49 | €33,026 | €310,019 | €332,791 | ▲ 7.3% |
| Amounts payable after more than one year17 | - | €270,200 | €260,861 | ▼ 3.5% |
| Financial debts170/4 | - | €270,200 | €260,861 | ▼ 3.5% |
| Amounts payable within one year42/48 | €33,026 | €39,819 | €71,930 | ▲ 80.6% |
| Current portion of amounts payable after more than one year42 | - | €8,918 | €9,339 | ▲ 4.7% |
| Trade debts44 | €1,029 | €1,624 | €5,652 | ▲ 248% |
| Suppliers440/4 | €1,029 | €1,624 | €5,652 | ▲ 248% |
| Taxes, remuneration and social security45 | €31,754 | €29,188 | €56,939 | ▲ 95.1% |
| Taxes450/3 | €30,319 | €29,188 | €56,939 | ▲ 95.1% |
| Remuneration and social security454/9 | €1,435 | - | - | - |
| Other amounts payable47/48 | €244 | €90 | - | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €83,904 | €78,543 | €95,227 | ▲ 21.2% |
| + Depreciation and write-downs630 | €355 | €5,567 | €12,634 | ▲ 127% |
| Operating cash flow (approximation) | €84,260 | €84,111 | €107,862 | ▲ 28.2% |
| Investment in fixed assets (approximation) | - | -€397,953 | -€20,986 | ▲ 94.7% |
| Change in cash | - | -€39,691 | €105,409 | ▲ 366% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Comparable companies
Similar companies · same sector, comparable size
TW-GENERATION
BE 0862.072.355
Court-Saint-Etienne · Eq €259,179
DESTREZA VENTURES
BE 0809.506.471
Wavre · Eq €258,866
UNCANNY
BE 0713.961.867
Herentals · Eq €262,456
Outpost24
BE 0666.404.747
Leuven · Eq €257,590
KERBEROS Services
BE 0828.173.330
Alken · Eq €262,992
Of 3,214 companies in this sector we hold annual accounts for 1,748. 1,285 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Timeline
7 eventsLatest 23-07-2026Next filing 31-07-2027
History
Acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
23-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2023net €95,227 ▲21.2%
Operating result €139,341, net result €95,227, both a record.
31-12
Financial
Equity above €200,000Eq €260,175 ▲57.7%
3 profitable years in a row build equity to €260,175.
13-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 13 days late
2024
31-12
Financial
Weakest financial yearnet €78,543 ▼6.4%
Net result drops to €78,543, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €150,000Eq €164,948 ▲90.9%
2 profitable years in a row build equity to €164,948.
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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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Company details
Private limited company · founded 15-12-2022Year ends 31-12Peppol reachable1 site
Register details
Identification
Legal formPrivate limited company
Founded15-12-2022
Fiscal year end31-12
Activities, NACEBEL 2025
62900Other information technology and computer services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0794823542
Also
9925:BE0794823542
Registered
03-07-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Sites & property
Location & real-estate footprint
Registered office, Vilvoorde · 1 establishment unit since 2022
Ground area
3,562 m²
Building footprint
2,132 m²
Volume, LiDAR
33,618 m³
2 parcels, Brussels, Flanders · tallest building 26.8 m, ±8 floors. Linked by address, not a title deed.
13
companies at this address
See who is registered here
1 establishment unit
AZ Advisory
since 2022unit no. 2.339.729.278
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23642D0658/00W000 | Flanders | 2,494 m² | 1 · 1,844 m² | 18.5 m · 5 fl. |
| 21372D0119/00D000 | Brussels | 1,068 m² | 1 · 289 m² | 26.8 m · 8 fl. |
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.
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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