At the same address
88 companies
AZORG
Lifetime
1 annual account with figuresTurnoverpeak €824.9m (2025)
€824.9m
Resultlowest -€5.1m (2025)
-€5.1m
Equitypeak €273.3m (2025)
€273.3m
Debts
€414.7m
Staffpeak 3,786.7 FTE (2025)
3,786.7 FTE
Board15 names since 2024all names
10 directorsAugustinus Van den Bossche and 9 others
Documentsfilings and deeds
03-07-202628 days before the deadline
2025abbreviated format
Loss of €5.1mAppointment: Callens Vandelanotte en Theunissen BV (statutory… 30-124 directors appointed 21-01First year with figures
Key points
from the 2025 annual accountsRestructuring
4
4 restructurings since 2025. Latest: branch taken over from Algemeen Stedelijk Ziekenhuis Autonome….
Position in the sector
-€5.1m
Lower net result than 95% of companies in human health. Sector median €110,314 · 3,010 companies.
Checked score
91
Excellent
Financially stronger than 31% of large companies in human health (NACE 86)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: < 0.1% across 83 companies (NACE 86, large).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
02-2025: < 0.1%
03-2025: < 0.1%● unchanged vs 02-2025
04-2025: < 0.1%● unchanged vs 03-2025
05-2025: < 0.1%● unchanged vs 04-2025
06-2025: < 0.1%● unchanged vs 05-2025
07-2025: < 0.1%● unchanged vs 06-2025
08-2025: < 0.1%● unchanged vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026
03-2026: < 0.1%● unchanged vs 02-2026
04-2026: < 0.1%● unchanged vs 03-2026
05-2026: < 0.1%● unchanged vs 04-2026highest value
06-2026: < 0.1%● unchanged vs 05-2026highest value
07-2026: < 0.1%● unchanged vs 06-2026highest value
08-2026: < 0.1%● unchanged vs 07-2026lowest value
09-2026: < 0.1%● unchanged vs 08-2026lowest value
10-2026: < 0.1%● unchanged vs 09-2026
11-2026: < 0.1%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
Liquidity: current ratio 1.57, cash €12.4m
Founded in 2024
lowers risk
Legal form: non-profit association
Sector: Human health activities (NACE 86)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 86, large). It does better than 44% of them on solvency, 24% on liquidity and 24% on profitability.
The bankruptcy probability was computed on 05-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 249 companies had the same profile as AZORG has now. Each dot is one company, two years later.
94.0%
were still trading
4.8%
stopped another way
0.8%
went bankrupt
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of AZORG itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 249 companies, not a prediction for AZORG. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €24,850,000 on 30-day terms, only on tighter conditions: young company (under 3 years) without a track record
Liquidity is ample, with a current ratio of 1.57, above the usual 1.5. Short-term debt is 28% and cash 1.8% of total assets. However, 60.5% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 03-07-2026, 28 days ahead of the deadline.
NBB · 1 filingDeviation from the deadline
2025
28 days early
← before the deadline
after the deadline →
Searched, nothing found (1)
Recent changes
Environmental permit granted
Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden · Asse
Environmental permit granted
Verbouwen en/of uitbreiden zonder functiewijziging en zonder wijziging van aantal woongelegenheden · Departement Omgeving
Appointment: Callens Vandelanotte en Theunissen BV (statutory auditor)
Gazette deed
Environmental permit granted
Verbouwen / Wijzigen Infrastructuur · Asse
Comparable companies
same main activity, similar in size and age| Company | Turnover | EBIT margin | Solvency | Staff |
|---|---|---|---|---|
| AZORG Aalst | €824.9m | -1.0% | 39.5% | 3,786.7 |
| CHU HELORA Mons | €900.5m | 1.5% | 21.7% | 4,026.3 |
| Association Hospitalière Sambre et Meuse Namur | €335.1m | -0.4% | 12.1% | 2,284 |
| Algemeen Ziekenhuis Oostende Ostend | €308.7m | 0.6% | 37.7% | 1,674 |
| CENTRE HOSPITALIER UNIVERSITAIRE DINANT GODINNE SAINTE-ELISABETH-UCL-NAMUR Yvoir | €637.5m | 1.6% | 26.1% | 3,597.6 |
| Algemeen Ziekenhuis Delta Roeselare | €739.7m | 0.0% | 42.2% | 3,481.4 |
| Centre Hospitalier EPICURA Saint-Ghislain | €370.9m | 0.5% | 18.7% | 2,511 |
Grey: the largest companies of the sector (human health (NACE 86)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as AZORG: human health activities (NACE 86101). They are comparable in size and age: total assets between €324m and €1bn, founded between 2011 and 2023.
Official details
Source: KBO- Status
- Active since 24-01-2024Normal situation
- Registered office
- 89 active companies are registered at this address2 started in the 12 months before. Source: KBO register, as of 6 November 2026.
- Activity
- Human health activitiesNACE 86101and 2 others
- Joint committee
- 330Health institutions and services · annual accounts 2025
- Establishment units
- 2.361.526.4659300 Aalst, since 09-01-2024
- 2.367.355.8689300 Aalst, since 09-01-2024and 4 others
- Financial year end
- 31 December
- Peppol
- Reachable
Annual accounts 2025
- Total assets
- €691.2m
- Employeeson 31-12-2025
- 4,417
- Filing
- Filed on 03-07-2026, 28 days before the end of the filing period
Insights on AZORG
AZORG has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €273.3m and a net result of -€5.1m.
Its solvency ranks better than 34% of 3,044 sector peers (NACE 86, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about AZORG
- What is the company number of AZORG?
- The company number of AZORG is 1005.154.085. The VAT number is the same number with BE in front: BE 1005.154.085.
- Where is AZORG based?
- The registered office is at Moorselbaan 164, 9300 Aalst.Company details
- What does AZORG do?
- According to the KBO register, the main activity is human health activities (NACE 86101).
- What is the legal form of AZORG?
- AZORG is a non-profit association (VZW).
- When was AZORG founded?
- AZORG was founded on 24-01-2024.
- Is AZORG still active?
- Yes, AZORG is an active enterprise in the KBO register.
- How many employees does AZORG have?
- AZORG had an average of 3,786.7 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does AZORG fall under?
- In its 2025 annual accounts, AZORG states joint committee 330 (Health institutions and services).
- What is the turnover of AZORG?
- The turnover of AZORG was €824.9m in financial year 2025, according to the filed annual accounts.
- Is AZORG profitable?
- In financial year 2025, AZORG made a loss of €5.1m.
- Where can I find the annual accounts of AZORG?
- AZORG filed 1 annual account with the National Bank of Belgium, for financial year 2025.
Next steps
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