HARCO GROUP
ActiveThe file of HARCO GROUP contains 3 judicial reorganisation notices, as published in the Belgian State Gazette.
Summary
The computed 12-month bankruptcy probability is 8.1% (elevated). The 2025 annual accounts show equity of €1.5m and a net result of -€93,867. Equity remains stable across the filed fiscal years (±0.1% per year). Its solvency ranks better than 41% of 5113 sector peers (fiscal year 2025).
Checked score
Score 2025
Axes · tick = 2024
Profitability18▲+2
Solvency63▼-1
Growth52=
Track record60
Bankruptcy probability, 12 months
8.1%
Elevated
0%0.5%1.5%4%10%≥ 25%
Credit up to €45,000 at 30 days only on tighter terms
Liquidity ample (current ratio 1.85 against 2.1 in 2024; short-term debt: 51.3% and cash: 0.9% of total assets), but 62.1% of the assets are financed with debt.
Credit check for your own amount and term
Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
19202122232425
2019 to 2025 · latest year -€93,867
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 02-02-2026, 2 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 · 10 filingsDeviation from the deadline
2025
2 d late
2024
4 d late
2023
on the day
2022
63 d late
2021
28 d late
2020
235 d late
2019
16 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 45 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 4 February (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close01-10-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
€1.0m▲ 1.9%
2021 · €1.0m
EBIT margin
-8.9%▼ 115.9pp
2021 · 107.0%
Net result
-€93,867▼ 27.1%
2024 · -€73,835
Working capital
€1.7m▼ 14.9%
2024 · €2.0m
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
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 46, Wholesale trade, 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), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€1.0m▼ 47.8%€1.0m▲ 1.9%
Operating result€1.1m-€0.09m-€0.05m▲ 48.6%-€0.03m▲ 44.5%€0.03m
Net result€1.1mabove the sector's middle half▲ 106,506%-€0.07mbelow the sector's middle half-€0.1mbelow the sector's middle half▼ 87.1%-€0.07mbelow the sector's middle half▲ 43.2%-€0.09mbelow the sector's middle half▼ 27.1%
EBIT margin107.0%▲ 107.3pp-8.9%▼ 115.9pp
Equity€1.9mwithin the sector's middle half▲ 131%€1.8mwithin the sector's middle half▼ 3.7%€1.7mwithin the sector's middle half▼ 7.3%€1.6mwithin the sector's middle half▼ 4.5%€1.5mwithin the sector's middle half▼ 5.9%
Total assets€4.1mwithin the sector's middle half▼ 11.8%€4.5mwithin the sector's middle half▲ 9.6%€4.0mwithin the sector's middle half▼ 9.6%€4.1mwithin the sector's middle half▲ 0.2%€3.9mwithin the sector's middle half▼ 2.8%
Debt€2.2m▼ 41.9%€2.7m▲ 20.8%€2.4m▼ 11.1%€2.5m▲ 3.4%€2.4m▼ 0.9%
Working capital€1.9mwithin the sector's middle half▲ 252%€2.0mwithin the sector's middle half▲ 3.4%€1.7mwithin the sector's middle half▼ 13.1%€2.0mwithin the sector's middle half▲ 16.2%€1.7mwithin the sector's middle half▼ 14.9%
Solvency45.5%within the sector's middle half▲ 28.2pp40.0%within the sector's middle half▼ 5.5pp41.0%within the sector's middle half▲ 1.0pp39.1%within the sector's middle half▼ 1.9pp37.9%within the sector's middle half▼ 1.2pp
Current ratio2.02within the sector's middle half▲ 0.871.89within the sector's middle half▼ 0.131.82within the sector's middle half▼ 0.062.10within the sector's middle half▲ 0.281.85within the sector's middle half▼ 0.25
Return on assets (ROA)25.8%above the sector's middle half▲ 25.8pp-1.6%below the sector's middle half▼ 27.4pp-3.2%below the sector's middle half▼ 1.7pp-1.8%below the sector's middle half▲ 1.4pp-2.4%below the sector's middle half▼ 0.6pp
Staff (FTE)5within the sector's middle half=4.3within the sector's middle half▼ 14.0%4within the sector's middle half▼ 7.0%3.4below the sector's middle half▼ 15.0%3below the sector's middle half▼ 11.8%
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €26,377 after a loss of €26,198 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.9m
Fixed assets
€201,542 ▼ 2.4%
Current assets
€3.7m ▼ 2.9%
Equity and liabilities €3.9m
Equity
€1.5m ▼ 5.9%
Debt
€2.4m ▼ 0.9%
Debt's share of the balance-sheet total rises from 60.9% to 62.1%. Equity and debt are lower.
Key figures and ratios
EBITDA
€34,437▲
2024 · -€18,445
Cash flow
-€85,807▼
2024 · -€66,082
Debt to equity
1.64▲
2024 · 1.56
ROE
-6.3%▼
2024 · -4.7%
Interest coverage
0.21▲
2024 · -0.19
Debt ≤ 1 year
€2.0m▲
2024 · €1.8m
Debt > 1 year
€398,453▼
2024 · €516,053
Income taxes
€168▼
2024 · €172
Staff costs
€70,549▼
2024 · €113,752
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.7%
went bankrupt
8.6%
stopped otherwise
90%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 8.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
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 12,321 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.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €1.1m | - | - | - | - |
| Turnover70 | €1.0m | €1.0m | - | - | - | - |
| Other operating income74 | - | €0.04m | - | - | - | - |
| Operating charges60/66A | - | €1.2m | - | - | - | - |
| Goods for resale, raw materials and consumables60 | - | €0.6m | - | - | - | - |
| Purchases600/8 | - | €0.6m | - | - | - | - |
| Services and other goods61 | - | €0.4m | - | - | - | - |
| Remuneration, social security and pensions62 | - | €0.005m | €0.07m | €0.1m | €0.07m | ▼ 38.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.02m | €0.03m | €0.02m | €0.008m | €0.008m | ▲ 4.0% |
| Other operating charges640/8 | - | €0.04m | €0.04m | €0.1m | €0.2m | ▲ 8.4% |
| Non-recurring operating charges66A | - | €0.1m | - | - | - | - |
| Gross operating margin9900 | - | - | €0.09m | €0.2m | €0.3m | ▲ 9.1% |
| Operating profit (loss)9901 | €1.1m | -€0.09m | -€0.05m | -€0.03m | €0.03m | ▲ 201% |
| Financial income75/76B | - | €0.1m | €0.1m | €0.05m | €0.04m | ▼ 9.2% |
| Recurring financial income75 | €0.05m | €0.1m | €0.1m | €0.05m | €0.04m | ▼ 9.2% |
| Income from financial fixed assets750 | - | €0.02m | - | - | - | - |
| Income from current assets751 | - | €0.03m | - | - | - | - |
| Other financial income752/9 | - | €0.05m | - | - | - | - |
| Financial charges65/66B | - | €0.07m | €0.2m | €0.09m | €0.2m | ▲ 71.8% |
| Recurring financial charges65 | €0.08m | €0.07m | €0.2m | €0.09m | €0.2m | ▲ 71.8% |
| Debt charges650 | €0.04m | €0.05m | - | - | - | - |
| Other financial charges652/9 | - | €0.02m | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €1.1m | -€0.07m | -€0.1m | -€0.07m | -€0.09m | ▼ 27.2% |
| Income taxes67/77 | €336 | €149 | €158 | €172 | €168 | ▼ 2.4% |
| Taxes670/3 | - | €150 | - | - | - | - |
| Tax adjustments and reversals of tax provisions77 | - | €1 | - | - | - | - |
| Profit (loss) for the period9904 | €1.1m | -€0.07m | -€0.1m | -€0.07m | -€0.09m | ▼ 27.1% |
| Profit (loss) for the period to be appropriated9905 | €1.1m | -€0.07m | -€0.1m | -€0.07m | -€0.09m | ▼ 27.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.1m | €4.5m | €4.0m | €4.1m | €3.9m | ▼ 2.8% |
| Fixed assets21/28 | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 2.4% |
| Intangible fixed assets21 | €0.01m | €0.01m | €0.008m | €0.006m | €0.004m | ▼ 35.8% |
| Tangible fixed assets22/27 | €0.06m | €0.03m | €0.01m | €0.01m | €0.01m | ▼ 20.1% |
| Furniture and vehicles24 | - | €0.02m | €0.004m | €0.009m | €0.007m | ▼ 17.9% |
| Other tangible fixed assets26 | - | €0.01m | €0.007m | €0.006m | €0.004m | ▼ 23.5% |
| Financial fixed assets28 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Affiliated companies280/1 | - | €0.2m | - | - | - | - |
| Participating interests280 | - | €0.2m | - | - | - | - |
| Other financial fixed assets284/8 | - | €0.007m | - | - | - | - |
| Amounts receivable and cash guarantees285/8 | - | €0.007m | - | - | - | - |
| Current assets29/58 | €3.8m | €4.2m | €3.8m | €3.8m | €3.7m | ▼ 2.9% |
| Amounts receivable after more than one year29 | - | €0.6m | €0.6m | €0.7m | €0.6m | ▼ 5.9% |
| Trade receivables290 | - | €0.6m | €0.6m | €0.7m | €0.6m | ▼ 5.9% |
| Amounts receivable within one year40/41 | €3.2m | €3.6m | €3.1m | €3.1m | €3.1m | ▼ 2.1% |
| Trade receivables40 | - | €2.5m | €2.4m | €2.4m | €2.3m | ▼ 3.9% |
| Other amounts receivable41 | - | €1.0m | €0.7m | €0.7m | €0.7m | ▲ 4.2% |
| Cash at bank and in hand54/58 | €0.1m | €0.08m | €0.05m | €0.04m | €0.04m | ▼ 11.6% |
| Deferred charges and accrued income490/1 | - | €0.008m | €0.006m | €0.007m | €0.007m | ▲ 2.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.1m | €4.5m | €4.0m | €4.1m | €3.9m | ▼ 2.8% |
| Equity10/15 | €1.9m | €1.8m | €1.7m | €1.6m | €1.5m | ▼ 5.9% |
| Contributions10/11 | €1.1m | €1.1m | €1.1m | €1.1m | €1.1m | = |
| Capital10 | - | €1.1m | €1.1m | €1.1m | €1.1m | = |
| Issued capital100 | - | €1.1m | €1.1m | €1.1m | €1.1m | = |
| Reserves13 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Non-distributable reserves130/1 | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Legal reserve130 | - | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Profit (loss) carried forward14 | €0.7m | €0.6m | €0.5m | €0.4m | €0.3m | ▼ 22.8% |
| Amounts payable17/49 | €2.2m | €2.7m | €2.4m | €2.5m | €2.4m | ▼ 0.9% |
| Amounts payable after more than one year17 | €0.3m | €0.3m | €0.2m | €0.5m | €0.4m | ▼ 22.8% |
| Financial debts170/4 | - | €0.3m | €0.2m | €0.5m | €0.4m | ▼ 22.8% |
| Credit institutions173 | - | €0.3m | - | - | - | - |
| Amounts payable within one year42/48 | €1.9m | €2.2m | €2.1m | €1.8m | €2.0m | ▲ 10.3% |
| Current portion of amounts payable after more than one year42 | - | €0.06m | €0.2m | €0.09m | €0.1m | ▲ 37.1% |
| Financial debts43 | - | €1.2m | €0.9m | €0.7m | €0.6m | ▼ 12.7% |
| Credit institutions430/8 | - | €1.2m | €0.9m | €0.7m | €0.6m | ▼ 12.7% |
| Trade debts44 | €0.7m | €1.0m | €1.0m | €0.8m | €0.7m | ▼ 12.2% |
| Suppliers440/4 | - | €1.0m | €1.0m | €0.8m | €0.7m | ▼ 12.2% |
| Taxes, remuneration and social security45 | - | €0.002m | €0.01m | €0.02m | €0.02m | ▲ 40.1% |
| Taxes450/3 | - | €150 | €160 | €175 | €0.001m | ▲ 549% |
| Remuneration and social security454/9 | - | €0.002m | €0.01m | €0.02m | €0.02m | ▲ 34.9% |
| Other amounts payable47/48 | - | €0.006m | €0.07m | €0.3m | €0.6m | ▲ 111% |
| Accrued charges and deferred income492/3 | - | €0.1m | €0.1m | €0.1m | €0.03m | ▼ 78.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.1m | -€0.07m | -€0.1m | -€0.07m | -€0.09m | ▼ 27.1% |
| + Depreciation and write-downs630 | €0.02m | €0.03m | €0.02m | €0.008m | €0.008m | ▲ 4.0% |
| Operating cash flow (approximation) | €1.1m | -€0.04m | -€0.1m | -€0.07m | -€0.09m | ▼ 29.8% |
| Investment in fixed assets (approximation) | - | -€0.005m | €0.002m | -€0.009m | -€0.003m | ▲ 66.4% |
| Change in cash | - | -€0.01m | -€0.03m | -€0.01m | -€0.005m | ▲ 66.5% |
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
02-02
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 2 days late
2025
04-02
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 4 days late
2024
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
04-04
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 63 days late
2022
28-02
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 28 days late
2021
23-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 235 days late
30-06
Financial
Highest result since 2019net €1.1m ▲106,506%
Operating result €1.1m, net result €1.1m, both a record.
30-06
Financial
Equity above €1mEq €1.9m ▲131%
2 profitable years in a row build equity to €1.9m.
2020
24-12
Judicial reorganisation
Plan homologation
Tribunal de l’entreprise francophone de Bruxelles · event 17-12-2020
30-06
Judicial reorganisation
Extension
Tribunal de l’entreprise francophone de Bruxelles · collective agreement · event 24-06-2020
30-06
Financial
Back to profitnet €989
Net result €989 after one loss-making year.
05-02
Judicial reorganisation
Extension
Tribunal de l’entreprise francophone de Bruxelles · collective agreement · event 29-01-2020
Show earlier events
15-01
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
05-02
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 5 days late
2017
24-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
2016
08-07
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 15 acts read
About the unread acts
We know of 15 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
No directors read yet: 0 of 15 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Elsene · 1 establishment unit since 2002
Ground area
1,228 m²
Building footprint
529 m²
Volume, LiDAR
8,602 m³
Parcel 21807G0218/00E016, Brussels · tallest building 24.9 m, ±7 floors. Linked by address, not a title deed.
95
companies at this address
See who is registered here
1 establishment unit
HARCO
since 2002unit no. 2.098.852.940
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21807G0218/00E016 | Brussels | 1,228 m² | 1 · 529 m² | 24.9 m · 7 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.
Structure & network
Owners and holdings
2 holdingsOwners 0
The accounts to 30-06-2025 list no shareholders, and no other source names one.
Holdings 2
- HARCO GROUP SOUTH AFRICA PTY LTDZAsubsidiarySourceown accounts 30-06-2025Equity -ZAR 9.6mResult -ZAR 412,302100%
-
91%
According to the annual accounts to 30-06-2025 of HARCO GROUP 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 directors read yet: 0 of 15 Gazette acts processed.
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Company details
Identification
Legal formPublic limited company
Founded12-06-2001
Fiscal year end30-06
Activities, NACEBEL 2025
46120Wholesale trade
46869Wholesale trade
26110Manufacture of computer, electronic and optical products
26200Manufacture of computer, electronic and optical products
26300Manufacture of computer, electronic and optical products
26400Manufacture of computer, electronic and optical products
43211General electrical installation work
46190Agents in non-specialised wholesale trade
46500Wholesale of information and communication equipment
46810Wholesale of solid, liquid and gaseous fuels and related products
46831Wholesale of construction materials, general range
46851Wholesale of industrial chemicals
58290Other software publishing
62900Other information technology and computer services
62100Computer programming
62200Computer consultancy and computer facilities management
63100Computing infrastructure, data processing, hosting and related activities
63910Web portal activities
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
74999Other professional, scientific and technical activities
77330Rental and leasing activities
77400Rental and leasing activities
80090Investigation and security activities
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0474970792
Also
9925:BE0474970792
Registered
14-11-2025
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.