HARGOTECH
ActiveSummary
The computed 12-month bankruptcy probability of HARGOTECH is 2.5% (moderate). The 2025 annual accounts show negative equity (-€1,019) and a net result of €1,414. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 17% of 11472 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability59▲+59
Solvency16▲+4
Growth58▲+26
Track record94
Bankruptcy probability, 12 months
2.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 1.55 against 0.74 in 2024; short-term debt: 62.9% and cash: 81.2% of total assets), but equity is negative.
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Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-8.9%
Return on assets
12.3%
Age of the figures
18 mo
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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 17% of 11472 sector peers (2025).
NBB · sector comparisonPosition among 11472 sector peers
Solvency
better than 17%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 30-10-2025, 1 day ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
1 d early
2024
7 d late
2023
1 d early
2022
4 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 4 accounts on average on the deadline day; 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 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close27-09-2026 today31-10-2026 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€1,019▲ 58.1%
2024 · -€2,434
Total assets
€11,464▼ 39.3%
2024 · €18,894
Net result
€1,414
2024 · -€5,065
Working capital
€3,939
2024 · -€2,403
Trend over the years
Click a name to add, emphasise or remove a line.Band: 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.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2022202320242025
Operating result€369-€21,684▲ 5,771%-€4,077€2,313
Net result-€225within the sector's middle half-€15,545within the sector's middle half-€5,065below the sector's middle half€1,414within the sector's middle half
Equity€5,775below the sector's middle half-€21,320within the sector's middle half▲ 269%-€2,434below the sector's middle half-€1,019below the sector's middle half▲ 58.1%
Total assets€77,359within the sector's middle half-€52,825below the sector's middle half▼ 31.7%€18,894below the sector's middle half▼ 64.2%€11,464below the sector's middle half▼ 39.3%
Debt€71,584-€31,506▼ 56.0%€21,327▼ 32.3%€12,483▼ 41.5%
Working capital€13,630-€24,456▲ 79.4%-€2,403€3,939
Solvency7.5%within the sector's middle half-40.4%within the sector's middle half▲ 32.9pp-12.9%below the sector's middle half▼ 53.2pp-8.9%below the sector's middle half▲ 4.0pp
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.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €2,313 after a loss of €4,077 in 2024.
Key figures and ratios
EBITDA
€2,628▲
2024 · -€2,098
Cash flow
€1,729▲
2024 · -€3,086
Current ratio
1.55▲
2024 · 0.74
Quick ratio
1.43▲
2024 · 0.52
Debt to equity
-12.25▼
2024 · -8.76
ROA
12.3%▲
2024 · -26.8%
Interest coverage
2.92▲
2024 · -2.12
Debt ≤ 1 year
€7,215▼
2024 · €9,085
Debt > 1 year
€5,269▼
2024 · €12,242
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,176 companies that looked in July 2024 the way this one looks now, 4.3% went bankrupt within 24 months and 89% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a profit of 5% of the balance sheet or more
4.3%
went bankrupt
5.6%
stopped otherwise
89%
still going
A further 1.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.5% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
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 2,176 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 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,243 | €2,203 | €1,979 | €315 | ▼ 84.1% |
| Other operating charges640/8 | €405 | €499 | €535 | €538 | ▲ 0.5% |
| Gross operating margin9900 | €3,017 | €24,386 | -€1,562 | €3,166 | ▲ 303% |
| Operating profit (loss)9901 | €369 | €21,684 | -€4,077 | €2,313 | ▲ 157% |
| Financial charges65/66B | €594 | €1,033 | €988 | €899 | ▼ 9.1% |
| Recurring financial charges65 | €594 | €1,033 | €988 | €899 | ▼ 9.1% |
| Profit (loss) for the period before taxes9903 | -€225 | €20,651 | -€5,065 | €1,414 | ▲ 128% |
| Income taxes67/77 | - | €5,107 | - | - | - |
| Profit (loss) for the period9904 | -€225 | €15,545 | -€5,065 | €1,414 | ▲ 128% |
| Profit (loss) for the period to be appropriated9905 | -€225 | €15,545 | -€5,065 | €1,414 | ▲ 128% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €77,359 | €52,825 | €18,894 | €11,464 | ▼ 39.3% |
| Formation expenses20 | €1,255 | €941 | €625 | €310 | ▼ 50.4% |
| Fixed assets21/28 | €16,967 | €15,079 | €11,586 | - | - |
| Tangible fixed assets22/27 | €16,967 | €15,079 | €11,586 | - | - |
| Plant, machinery and equipment23 | €16,967 | €15,079 | €11,586 | - | - |
| Current assets29/58 | €59,136 | €36,806 | €6,682 | €11,154 | ▲ 66.9% |
| Stocks and contracts in progress3 | - | - | €1,969 | €819 | ▼ 58.4% |
| Stocks30/36 | - | - | €1,969 | €819 | ▼ 58.4% |
| Amounts receivable within one year40/41 | €725 | €31,578 | €2,678 | €1,022 | ▼ 61.8% |
| Trade receivables40 | €725 | €31,578 | €2,324 | €749 | ▼ 67.8% |
| Other amounts receivable41 | - | - | €355 | €274 | ▼ 22.8% |
| Cash at bank and in hand54/58 | €58,411 | €5,228 | €2,035 | €9,312 | ▲ 358% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €77,359 | €52,825 | €18,894 | €11,464 | ▼ 39.3% |
| Equity10/15 | €5,775 | €21,320 | -€2,434 | -€1,019 | ▲ 58.1% |
| Contributions10/11 | €6,000 | €6,000 | €6,000 | €6,000 | = |
| Profit (loss) carried forward14 | -€225 | €15,320 | -€8,434 | -€7,019 | ▲ 16.8% |
| Amounts payable17/49 | €71,584 | €31,506 | €21,327 | €12,483 | ▼ 41.5% |
| Amounts payable after more than one year17 | €26,078 | €19,156 | €12,242 | €5,269 | ▼ 57.0% |
| Financial debts170/4 | €26,078 | €19,156 | €12,242 | €5,269 | ▼ 57.0% |
| Amounts payable within one year42/48 | €45,506 | €12,349 | €9,085 | €7,215 | ▼ 20.6% |
| Current portion of amounts payable after more than one year42 | €6,785 | €6,856 | €6,914 | €6,973 | ▲ 0.9% |
| Trade debts44 | €34,584 | €229 | €2,171 | €241 | ▼ 88.9% |
| Suppliers440/4 | €34,584 | €229 | €2,171 | €241 | ▼ 88.9% |
| Taxes, remuneration and social security45 | €4,137 | €5,265 | - | - | - |
| Taxes450/3 | €4,137 | €5,265 | - | - | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€225 | €15,545 | -€5,065 | €1,414 | ▲ 128% |
| + Depreciation and write-downs630 | €2,243 | €2,203 | €1,979 | €315 | ▼ 84.1% |
| Operating cash flow (approximation) | €2,018 | €17,747 | -€3,086 | €1,729 | ▲ 156% |
| Investment in fixed assets (approximation) | - | -€315 | €1,514 | - | - |
| Change in cash | - | -€53,183 | -€3,193 | €7,277 | ▲ 328% |
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
2025
30-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-03
Financial
Back to profitnet €1,414
Net result €1,414 after one loss-making year.
31-03
Financial
Liquidity doublescurrent ratio 1.55
Current ratio from 0.74 to 1.55; short-term debt falls from €9,085 to €7,215.
2024
07-11
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 7 days late
31-03
Financial
Weakest financial yearnet -€5,065
Net result drops to -€5,065, the lowest in the series; recovery starts the following year.
2023
30-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
31-03
Financial
Back to profitnet €15,545
Net result €15,545 after one loss-making year.
31-03
Financial
Liquidity doublescurrent ratio 2.98
Current ratio from 1.30 to 2.98; short-term debt falls from €45,506 to €12,349.
2022
27-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Genappe · 1 establishment unit since 2021
Ground area
503 m²
Building footprint
46 m²
Volume, LiDAR
380 m³
Parcel 25113C0170/00H004, Wallonia · tallest building 9.9 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
HARGOTECH
since 20212.314.625.777
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25113C0170/00H004 | Wallonia | 503 m² | 1 · 46 m² | 9.9 m · 3 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.
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Of 805 companies in sector 46610 we hold annual accounts for 566. 146 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded11-03-2021
Fiscal year end31-03
Activities, NACEBEL 2025
46610Wholesale trade
46620Wholesale of machine tools
E-invoicing
Reachable via Peppol
Peppol ID
0208:0764955262
Also
9925:BE0764955262
Registered
04-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.