BARGANO ORGANISATION · Checked.be

Summary

Conclusion

the dossier summarised in one paragraph

The computed 12-month bankruptcy probability of BARGANO ORGANISATION is 0.2% (very low). The 2024 annual accounts show equity of €174k and a net result of €15k. Equity is growing by ~11.8% per year across the filed fiscal years. Its solvency ranks better than 89% of 789 sector peers (fiscal year 2024). The company has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 4 annual accounts.

Signals

3 signals · with evidence

Strong solvency vs sector

Solvency is in the sector's strongest quartile: better than 89% of 789 peers (2024). A comfortable equity buffer.

View the sector comparison

Consistently profitable

Positive net result in the two most recent financial years (2022 and 2024).

View the result trend

Growing equity

Equity grew over 2019-2024. Profits are largely retained rather than distributed.

View the equity trend

Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.

Filing behaviour

From the deposit records, complete market-wide

Deadline passed, not yet counted as missing

The deadline for the year that closed on 31-12-2025 passed on 31-07-2026, 25 days ago. Our copy of the deposit register trails the National Bank (measured: median 14 days, p99 45 days), so we only call this filing missing from 45 days past the deadline.

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-09-2025, 55 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.

How we compute the deadline

The year end is derived from 10 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2024, that is 31-07-2025.

Deadline per financial year

Year closed	Due by	Filed	Variance	Reference
31-12-2025	31-07-2026	nothing on record	not filed	-
31-12-2024	31-07-2025	24-09-2025	55 d late	2025-00500925
31-12-2022	31-07-2023	31-01-2024	184 d late	2024-00021584
31-12-2019	31-07-2020	31-08-2020	31 d late	2020-47800084
31-12-2018	31-07-2019	27-09-2019	58 d late	2019-66300147
31-12-2017	31-07-2018	12-02-2019	196 d late	2019-04900289
31-12-2016	31-07-2017	03-07-2018	337 d late	2018-27500123
31-12-2015	31-07-2016	31-08-2016	31 d late	2016-55600030
31-12-2014	31-07-2015	31-08-2015	31 d late	2015-54200419
31-12-2013	31-07-2014	29-08-2014	29 d late	2014-54000052
31-12-2012	31-07-2013	30-08-2013	30 d late	2013-53800317

Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.

Trust signals

2 signals

Long-established

Founded in 2002, 24 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Bankruptcy probability (12 mo)

Checked model v1 · free for everyone

0.2% Very low

0%0,5%1,5%4%10%≥25%

Lower-failure-rate sector −Long track record −Higher-failure-rate region +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Financials

TurnoverNot published (abbreviated filing)

EBIT marginNot published (abbreviated filing)

Net result€15k-50.6%

Working capital€174k+25.7%

CSV export

Annual accounts & ratios

Source: NBB · 2024

Annual accounts filed on 24-09-2025 with the NBB · fiscal year 2024 · micro

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

growing Equity: growth of ~11.8%/year over 4 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2024 · NACE 93 · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	75.6%	20.1%	better than 89% of 789 sector peers
Net result	€15k	€2k	better than 69% of 791 sector peers
Equity	€174k	€19k	better than 91% of 792 sector peers
Gross operating margin	€26k	€24k	better than 51% of 790 sector peers
Total assets	€230k	€111k	better than 69% of 790 sector peers

Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.

EBITDA

€18k

-57.2% 18-24

Net profit

€15k

-50.6% 18-24

Cash flow

€15k

-54.4% 18-24

Total assets

€230k

+22.9% 18-24

Equity

€174k

+21.1% 18-24

Working capital

€174k

+25.7% 18-24

Income taxes

€312

-93.7% 18-24

Debt

€56k

+28.6% 18-24

Show 9 other metrics

Debt ≤ 1y

€56k

+28.6% 18-24

Debt > 1y

€0

-100.0% 18-24

Current ratio

4.10

-1.7% 18-24

Quick ratio

4.10

-1.3% 18-24

Solvency

75.6%

-1.4% 18-24

Debt / equity

0.32

+6.1% 18-24

ROE

8.7%

-59.2% 18-24

ROA

6.6%

-59.8% 18-24

Interest coverage

6.62

-40.7% 18-24

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2024
Deposit	micro
Revenue	-
EBITDA	€18k
Net profit	€15k
Cash flow	€15k
Staff costs	-
Income taxes	€312
Dividends	-
Total assets	€230k
Equity	€174k
Debt	€56k
of which ≤ 1y	€56k
of which > 1y	-
Working capital	€174k
Employees (FTE)	-

Ratios (computed)

	2024
Current ratio	4.10
Quick ratio	4.10
Working capital ratio	75.6%
Solvency	75.6%
Debt / equity	0.32
Long-term debt ratio	-
Interest coverage	6.62
Gross margin	-
Net margin	-
ROA	6.6%
ROE	8.7%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	-
Inventory turnover	-
Days inventory (DSI)	-

Balance-sheet composition 2024

Equity & liabilities

Equity €174k · 75.6% Debt €56k · 24.4%

Full annual accounts (24 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2024
Balance sheet, Assets
TOTAL ASSETS	20/58	€230k
Fixed assets	21/28	€0
Intangible fixed assets	21	€0
Tangible fixed assets	22/27	€0
Current assets	29/58	€230k
Stocks & contracts in progress	3	€0
Amounts receivable within one year	40/41	€221k
Cash & bank	54/58	€8k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€230k
Equity	10/15	€174k
Contributions / capital	10/11	€19k
Reserves	13	€68k
Accumulated profits (losses)	14	€87k
Amounts payable	17/49	€56k
Amounts payable within one year	42/48	€56k
Trade debts payable within one year	44	€55k
Income statement
Gross operating margin	9900	€26k
Operating result	9901	€18k
Financial income	75	€213
Financial charges	65	€3k
Result before taxes	9903	€15k
Income taxes	67/77	€312
Net result for the period	9904	€15k
Result to be appropriated	9905	€15k

This table shows the latest fiscal year. 3 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Health barometer

FY 2024 · computed

86 / 100 Excellent

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.

Directors

Directors & mandates

2 directors

Former directors (2)

GILLES Romain
Managing director
State Gazette act 15032514 (02-03-2015)

Former
01-01-2008 → 30-09-2024
2 events
- 30-09-2024 Resigned· Director
- 01-01-2008 Appointed· Managing director
OFORI Linda
Manager
State Gazette act 15065579 (08-05-2015)

Former
01-04-2015 → 30-09-2024
2 events
- 30-09-2024 Resigned· Director
- 01-04-2015 Appointed· Manager

Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.

Insolvency mandates

No insolvency mandates (liquidators, administrators) on record for this company.

Legal Structure

NACE primary	Overige recreatie- en ontspanningsactiviteiten, neg(93299)
Legal form	Private limited company (pre-2019)(015)
Incorporation	16-08-2002
Status	Active
Postal code	4020

Locations & real estate

Registered office

from the Crossroads Bank

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Quai de la Boverie 1014020 Liège

Parcels1

Ground area997 m²

Buildings1

Building footprint164 m²

Volume (LiDAR)4,668 m³

Tallest building30.8 m · ±9 fl.

Real-estate footprint

Source: CBE × cadastre · address linking

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Wallonia 1 (100%)