HAZGO
ActiveSummary
HAZGO has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €736,390 and a net result of €2.1m. Equity is growing by ~10.2% per year across the filed fiscal years. Its solvency ranks better than 18% of 952 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability99▼-1
Solvency33▼-56
Growth58▼-20
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €45,000 at 30 days acceptable
Liquidity short (current ratio 0.96 against 2.73 in 2024; short-term debt: 91.5% and cash: 17.4% of total assets), and 91.6% 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
Six 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 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
8.4%
Return on assets
23.4%
Age of the figures
9 mo
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 · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 18% of 952 sector peers (2025).
NBB · sector comparisonPosition among 952 sector peers
Solvency
better than 18%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 04-09-2026, 35 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
35 d late
2024
30 d early
2023
34 d early
2022
30 d late
2021
13 d early
2020
22 d early
2019
28 d late
← 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 1 day before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% 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 18 July (4 of the last 5 filed years within 43 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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 Is the workforce growing, and do people stay?Employer check 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 Which other companies belong to the same group?SGS SA · 6 companies
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, full schema
Turnover
€14.2m
EBIT margin
19.2%
Net result
€2.1m▲ 31.9%
2024 · €1.6m
Working capital
-€320,794
2024 · €3.6m
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 82, Office administrative, office support and other business support 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), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€14.2m
Operating result€745,936▲ 3.6%€780,796▲ 4.7%€1.1m▲ 44.3%€2.1m▲ 90.4%€2.7m▲ 27.3%
Net result€552,658above the sector's middle half▲ 5.5%€629,256above the sector's middle half▲ 13.9%€758,308above the sector's middle half▲ 20.5%€1.6mabove the sector's middle half▲ 106%€2.1mabove the sector's middle half▲ 31.9%
EBIT margin19.2%
Equity€1.8mabove the sector's middle half▼ 9.7%€1.5mabove the sector's middle half▼ 20.2%€2.2mabove the sector's middle half▲ 51.6%€3.8mabove the sector's middle half▲ 70.1%€736,390within the sector's middle half▼ 80.6%
Total assets€4.8mabove the sector's middle half▲ 48.0%€5.1mabove the sector's middle half▲ 6.8%€3.9mabove the sector's middle half▼ 23.9%€5.9mabove the sector's middle half▲ 51.7%€8.8mwithin the sector's middle half▲ 48.9%
Debt€3.0m▲ 146%€3.6m▲ 23.6%€1.7m▼ 54.4%€2.1m▲ 27.2%€8.1m▲ 281%
Working capital€1.5mabove the sector's middle half▼ 20.8%€949,944above the sector's middle half▼ 37.5%€1.7mabove the sector's middle half▲ 75.7%€3.6mabove the sector's middle half▲ 115%-€320,794below the sector's middle half
Solvency38.4%within the sector's middle half▼ 24.5pp28.7%within the sector's middle half▼ 9.7pp57.2%within the sector's middle half▲ 28.5pp64.1%within the sector's middle half▲ 6.9pp8.4%below the sector's middle half▼ 55.8pp
Current ratio1.52within the sector's middle half▼ 1.081.27within the sector's middle half▼ 0.252.04within the sector's middle half▲ 0.772.73within the sector's middle half▲ 0.690.96within the sector's middle half▼ 1.77
Return on assets (ROA)11.5%within the sector's middle half▼ 4.6pp12.3%within the sector's middle half▲ 0.8pp19.5%above the sector's middle half▲ 7.2pp26.4%above the sector's middle half▲ 7.0pp23.4%above the sector's middle half▼ 3.0pp
Staff (FTE)21.5above the sector's middle half▲ 10.8%23.7above the sector's middle half▲ 10.2%27above the sector's middle half▲ 13.9%28.5above the sector's middle half▲ 5.6%31.7above the sector's middle half▲ 11.2%
above
within
below
the middle half (P25 to P75) of NACE 82, Office administrative, office support and other business support activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result has risen four years in a row; 2025 is 27% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €8.8m
Fixed assets
€1.1m ▲ 354%
Current assets
€7.7m ▲ 36.2%
Equity and liabilities €8.8m
Equity
€736,390 ▼ 80.6%
Debt
€8.1m ▲ 281%
Debt's share of the balance-sheet total rises from 35.9% to 91.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€2.8m▲
2024 · €2.2m
Cash flow
€2.2m▲
2024 · €1.7m
Debt to equity
10.94▲
2024 · 0.56
ROE
279.6%▲
2024 · 41.2%
Interest coverage
417.77▲
2024 · 109.33
Debt ≤ 1 year
€8.0m▲
2024 · €2.1m
Debt > 1 year
€12,386▼
2024 · €37,517
Income taxes
€650,000▲
2024 · €566,851
Staff costs
€2.5m▲
2024 · €2.1m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 536 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 96% are still going.
- Small
- 10 to 20 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
0.7%
went bankrupt
3.4%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.3% 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 536 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 | - | - | - | - | €14.3m | - |
| Turnover70 | - | - | - | - | €14.2m | - |
| Other operating income74 | - | - | - | - | €78,790 | - |
| Non-recurring operating income76A | - | €5,223 | €4,132 | €1,240 | - | - |
| Operating charges60/66A | - | - | - | - | €11.6m | - |
| Goods for resale, raw materials and consumables60 | - | - | - | - | €6.3m | - |
| Purchases600/8 | - | - | - | - | €6.3m | - |
| Services and other goods61 | - | - | - | - | €2.7m | - |
| Remuneration, social security and pensions62 | €1.4m | €1.7m | €2.1m | €2.1m | €2.5m | ▲ 18.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €49,328 | €105,454 | €162,320 | €105,050 | €114,271 | ▲ 8.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €24,393 | - |
| Other operating charges640/8 | €5,539 | €39,524 | €10,300 | €5,296 | €3,689 | ▼ 30.3% |
| Non-recurring operating charges66A | - | - | - | €344,272 | - | - |
| Gross operating margin9900 | €2.2m | €2.6m | €3.4m | €4.7m | - | - |
| Operating profit (loss)9901 | €745,936 | €780,796 | €1.1m | €2.1m | €2.7m | ▲ 27.3% |
| Financial income75/76B | €2,116 | €7,229 | €40,919 | €4,274 | €15,862 | ▲ 271% |
| Recurring financial income75 | €2,116 | €7,229 | €40,919 | €4,274 | €15,862 | ▲ 271% |
| Income from current assets751 | - | - | - | - | €13,625 | - |
| Other financial income752/9 | - | - | - | - | €2,237 | - |
| Financial charges65/66B | €8,705 | €17,914 | €67,686 | €20,576 | €36,324 | ▲ 76.5% |
| Recurring financial charges65 | €8,705 | €17,914 | €17,686 | €20,576 | €36,324 | ▲ 76.5% |
| Debt charges650 | - | - | - | - | €6,806 | - |
| Other financial charges652/9 | - | - | - | - | €29,518 | - |
| Non-recurring financial charges66B | - | - | €50,000 | €0 | - | - |
| Profit (loss) for the period before taxes9903 | €739,347 | €770,112 | €1.1m | €2.1m | €2.7m | ▲ 27.3% |
| Income taxes67/77 | €186,689 | €140,855 | €341,231 | €566,851 | €650,000 | ▲ 14.7% |
| Taxes670/3 | - | - | - | - | €672,901 | - |
| Tax adjustments and reversals of tax provisions77 | - | - | - | - | €22,901 | - |
| Profit (loss) for the period9904 | €552,658 | €629,256 | €758,308 | €1.6m | €2.1m | ▲ 31.9% |
| Transfer to tax-exempt reserves689 | €210,500 | €210,500 | €210,500 | €0 | - | - |
| Profit (loss) for the period to be appropriated9905 | €342,158 | €418,756 | €547,808 | €1.6m | €2.1m | ▲ 31.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €4.8m | €5.1m | €3.9m | €5.9m | €8.8m | ▲ 48.9% |
| Fixed assets21/28 | €329,695 | €613,072 | €619,824 | €235,592 | €1.1m | ▲ 354% |
| Intangible fixed assets21 | €138,095 | €305,656 | €363,845 | €9,982 | €5,207 | ▼ 47.8% |
| Tangible fixed assets22/27 | €133,824 | €245,711 | €248,874 | €221,305 | €1.1m | ▲ 380% |
| Plant, machinery and equipment23 | €37,183 | €22,828 | €10,259 | €10,186 | €15,070 | ▲ 48.0% |
| Furniture and vehicles24 | €55,862 | €82,243 | €123,385 | €135,650 | €116,566 | ▼ 14.1% |
| Leasing and similar rights25 | - | €102,036 | €77,961 | €53,887 | €29,813 | ▼ 44.7% |
| Other tangible fixed assets26 | €40,780 | €38,604 | €37,269 | €21,582 | €901,538 | ▲ 4,077% |
| Financial fixed assets28 | €57,775 | €61,705 | €7,105 | €4,306 | €1,378 | ▼ 68.0% |
| Other financial fixed assets284/8 | - | - | - | - | €1,378 | - |
| Amounts receivable and cash guarantees285/8 | - | - | - | - | €1,378 | - |
| Current assets29/58 | €4.5m | €4.5m | €3.3m | €5.7m | €7.7m | ▲ 36.2% |
| Stocks and contracts in progress3 | €20,554 | €139,788 | €236,557 | €0 | - | - |
| Stocks30/36 | €20,554 | €139,788 | €236,557 | €0 | - | - |
| Amounts receivable within one year40/41 | €2.3m | €2.9m | €2.8m | €2.9m | €3.7m | ▲ 25.4% |
| Trade receivables40 | €2.0m | €2.5m | €2.6m | €2.9m | €3.7m | ▲ 26.3% |
| Other amounts receivable41 | €270,781 | €379,087 | €265,633 | €24,640 | €3,142 | ▼ 87.2% |
| Current investments50/53 | - | - | - | - | €2.5m | - |
| Other investments51/53 | - | - | - | - | €2.5m | - |
| Cash at bank and in hand54/58 | €2.1m | €1.5m | €151,713 | €2.7m | €1.5m | ▼ 43.1% |
| Deferred charges and accrued income490/1 | €38,959 | €31,659 | €55,023 | €71,368 | €40,547 | ▼ 43.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €4.8m | €5.1m | €3.9m | €5.9m | €8.8m | ▲ 48.9% |
| Equity10/15 | €1.8m | €1.5m | €2.2m | €3.8m | €736,390 | ▼ 80.6% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €82,000 | ▲ 310% |
| Reserves13 | €212,500 | €423,000 | €633,500 | €633,500 | €639,700 | ▲ 1.0% |
| Tax-exempt reserves132 | €210,500 | €421,000 | €631,500 | €631,500 | €210,500 | ▼ 66.7% |
| Distributable reserves133 | €2,000 | €2,000 | €2,000 | €2,000 | €429,200 | ▲ 21,360% |
| Profit (loss) carried forward14 | €1.6m | €1.0m | €1.6m | €3.1m | €14,690 | ▼ 99.5% |
| Amounts payable17/49 | €3.0m | €3.6m | €1.7m | €2.1m | €8.1m | ▲ 281% |
| Amounts payable after more than one year17 | - | €84,125 | €61,410 | €37,517 | €12,386 | ▼ 67.0% |
| Financial debts170/4 | - | €84,125 | €61,410 | €37,517 | €12,386 | ▼ 67.0% |
| Leasing and similar obligations172 | - | - | - | - | €12,386 | - |
| Amounts payable within one year42/48 | €2.9m | €3.6m | €1.6m | €2.1m | €8.0m | ▲ 287% |
| Current portion of amounts payable after more than one year42 | €33,466 | €55,195 | €56,905 | €57,226 | €25,281 | ▼ 55.8% |
| Trade debts44 | €2.0m | €2.3m | €1.3m | €1.5m | €1.9m | ▲ 25.2% |
| Suppliers440/4 | €2.0m | €2.3m | €1.3m | €1.5m | €1.9m | ▲ 25.2% |
| Taxes, remuneration and social security45 | €132,053 | €161,101 | €205,912 | €539,656 | €661,604 | ▲ 22.6% |
| Taxes450/3 | €569 | €1,046 | €660 | €282,593 | €287,362 | ▲ 1.7% |
| Remuneration and social security454/9 | €131,484 | €160,054 | €205,252 | €257,063 | €374,242 | ▲ 45.6% |
| Other amounts payable47/48 | €804,144 | €1.0m | €5,286 | €0 | €5.5m | - |
| Accrued charges and deferred income492/3 | €10,876 | €10,085 | €85 | €88 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €552,658 | €629,256 | €758,308 | €1.6m | €2.1m | ▲ 31.9% |
| + Depreciation and write-downs630 | €49,328 | €105,454 | €162,320 | €105,050 | €114,271 | ▲ 8.8% |
| Operating cash flow (approximation) | €601,986 | €734,710 | €920,627 | €1.7m | €2.2m | ▲ 30.4% |
| Investment in fixed assets (approximation) | - | -€388,831 | -€169,071 | €279,182 | -€948,250 | ▼ 440% |
| Change in cash | - | -€645,224 | -€1.3m | €2.5m | -€1.2m | ▼ 146% |
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
04-09
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 35 days late
27-08
State Gazette act
Resignation: R. Oostrom (director)Reappointments: J. Pype (director) and K. Van den Elsen (director)4 facts ▸
State Gazette act
Resignation: R. Oostrom (director)
Reappointments: J. Pype (director) and K. Van den Elsen (director)4 facts ▸
- General meeting, 24-06-2026
- Director resignation, R. Oostrom (director)
- Director reappointment, J. Pype (director)
- Director reappointment, K. Van den Elsen (director)
2025
31-12
Financial
Highest result since 2018net €2.1m ▲31.9%
Operating result €2.7m, net result €2.1m, both a record.
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Equity above €2mEq €2.2m ▲51.6%
6 profitable years in a row build equity to €2.2m.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 30 days late
2022
18-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
09-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Equity above €2mEq €2.0m ▲34.6%
3 profitable years in a row build equity to €2.0m.
28-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 28 days late
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 29 days late
2018
27-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 27 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 10 acts read
About the unread acts
Of the 10 Belgian State Gazette acts we know for this company, 1 has been read. The other 9 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 directors, last change in 2026
J. Pype
CurrentDirector · since 24-06-2026
K. Van den Elsen
CurrentDirector · since 24-06-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
9 of this company's 10 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Machelen (Brab.) · 2 establishment units since 2009
Ground area
1.6 ha
Building footprint
8,206 m²
Parcel 23047C0446/00A000, Flanders. Linked by address, not a title deed.
4
companies at this address
See who is registered here
2 establishment units
HAZGO - Express Solutions
since 20092.177.190.536
Machelen-Cargo (Brucargo) 729, 1931 Zaventem
since 20252.382.363.550
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23047C0446/00A000 | Flanders | 1.6 ha | 1 · 8,206 m² | - |
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.
Mandate history
3 people since 2026, 2 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| J. Pype |
|
| K. Van den Elsen |
|
| R. Oostrom |
|
Structure & network
Part of the group
SGS SA
6 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- SGS BELGIUM
- HAZGO
Highest known parent: SGS BELGIUM. The sources do not say who stands above it.
Owners 1
-
100%
Holdings 0
The accounts to 31-12-2025 list no holdings, and no other source names one.
According to the 2025 annual accounts of HAZGO 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
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
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Company details
Identification
Legal formPrivate limited company
Founded09-03-2009
Fiscal year end31-12
Activities, NACEBEL 2025
52250Logistics services
82990Other business support services
53200Other postal and courier activities
82920Office administrative, office support and other business support activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0810284451
Also
9925:BE0810284451
Registered
04-08-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.