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 €736k and a net result of €2.06M. Equity is growing by ~10.2% per year across the filed fiscal years. Its solvency ranks better than 18% of 925 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
64
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
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 €45k 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 advice for your own amount and term
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
Sector 82
lower
← 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 925 sector peers (2025).
NBB · sector comparisonPosition among 925 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 →
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.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€14.25M
EBIT margin
19.2%
Net result
€2.06M▲ 31.9%
2024 · €1.56M
2018: €427k
2019: €437k
2020: €524k
2021: €553k
2022: €629k
2023: €758k
2024: €1.56M
2018 → 2025
Working capital
€-321k
2024 · €3.59M
2018: €901k
2019: €1.38M
2020: €1.92M
2021: €1.52M
2022: €950k
2023: €1.67M
2024: €3.59M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€14.25M
Equity€1.84M-€1.47M▼ 20.2%€2.23M▲ 51.6%€3.79M▲ 70.1%€736k▼ 80.6%
Operating result€746k-€781k▲ 4.7%€1.13M▲ 44.3%€2.14M▲ 90.4%€2.73M▲ 27.3%
Net result€553k-€629k▲ 13.9%€758k▲ 20.5%€1.56M▲ 106%€2.06M▲ 31.9%
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 €8.79M
Fixed assets
€1.07M ▲ 354%
Current assets
€7.72M ▲ 36.2%
Equity and liabilities €8.79M
Equity
€736k ▼ 80.6%
Debt
€8.06M ▲ 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
€2.84M▲
2024 · €2.25M
Cash flow
€2.17M▲
2024 · €1.67M
Current ratio
0.96▼
2024 · 2.73
Debt to equity
10.94▲
2024 · 0.56
ROE
279.6%▲
2024 · 41.2%
ROA
23.4%▼
2024 · 26.4%
Interest coverage
417.77▲
2024 · 109.33
Debt ≤ 1 year
€8.04M▲
2024 · €2.08M
Debt > 1 year
€12k▼
2024 · €38k
Income taxes
€650k▲
2024 · €567k
Staff costs
€2.52M▲
2024 · €2.13M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 77 lines
Balance sheet
Code20242025
Assets
Total assets20/58€5.91M€8.79M▲
Fixed assets21/28€236k€1.07M▲
Intangible fixed assets21€10k€5k▼
Tangible fixed assets22/27€221k€1.06M▲
Plant, machinery and equipment23€10k€15k▲
Furniture and vehicles24€136k€117k▼
Leasing and similar rights25€54k€30k▼
Other tangible fixed assets26€22k€902k▲
Financial fixed assets28€4k€1k▼
Other financial fixed assets284/8-€1k
Amounts receivable and cash guarantees285/8-€1k
Current assets29/58€5.67M€7.72M▲
Stocks and contracts in progress3€0-
Stocks30/36€0-
Amounts receivable within one year40/41€2.92M€3.65M▲
Trade receivables40€2.89M€3.65M▲
Other amounts receivable41€25k€3k▼
Current investments50/53-€2.50M
Other investments51/53-€2.50M
Cash at bank and in hand54/58€2.68M€1.53M▼
Deferred charges and accrued income490/1€71k€41k▼
Equity and liabilities
Total equity and liabilities10/49€5.91M€8.79M▲
Equity10/15€3.79M€736k▼
Contributions10/11€20k€82k▲
Reserves13€634k€640k▲
Tax-exempt reserves132€632k€211k▼
Distributable reserves133€2k€429k▲
Profit (loss) carried forward14€3.13M€15k▼
Amounts payable17/49€2.12M€8.06M▲
Amounts payable after more than one year17€38k€12k▼
Financial debts170/4€38k€12k▼
Leasing and similar obligations172-€12k
Amounts payable within one year42/48€2.08M€8.04M▲
Current portion of amounts payable after more than one year42€57k€25k▼
Trade debts44€1.48M€1.86M▲
Suppliers440/4€1.48M€1.86M▲
Taxes, remuneration and social security45€540k€662k▲
Taxes450/3€283k€287k▲
Remuneration and social security454/9€257k€374k▲
Other amounts payable47/48€0€5.50M▲
Accrued charges and deferred income492/3€88-
Income statement
Code20242025
Operating income70/76A-€14.33M
Turnover70-€14.25M
Other operating income74-€79k
Non-recurring operating income76A€1k-
Operating charges60/66A-€11.60M
Goods for resale, raw materials and consumables60-€6.27M
Purchases600/8-€6.27M
Services and other goods61-€2.67M
Remuneration, social security and pensions62€2.13M€2.52M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€105k€114k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€24k
Other operating charges640/8€5k€4k▼
Non-recurring operating charges66A€344k-
Gross operating margin9900€4.73M-
Operating profit (loss)9901€2.14M€2.73M▲
Financial income75/76B€4k€16k▲
Recurring financial income75€4k€16k▲
Income from current assets751-€14k
Other financial income752/9-€2k
Financial charges65/66B€21k€36k▲
Recurring financial charges65€21k€36k▲
Debt charges650-€7k
Other financial charges652/9-€30k
Non-recurring financial charges66B€0-
Profit (loss) for the period before taxes9903€2.13M€2.71M▲
Income taxes67/77€567k€650k▲
Taxes670/3-€673k
Tax adjustments and reversals of tax provisions77-€23k
Profit (loss) for the period9904€1.56M€2.06M▲
Transfer to tax-exempt reserves689€0-
Profit (loss) for the period to be appropriated9905€1.56M€2.06M▲
Appropriation of the result
Profit (loss) to be appropriated9906€3.13M€5.51M▲
Profit (loss) brought forward from the previous period14P€1.57M€3.46M▲
Profit to be distributed694/7-€5.50M
Return on contributions (dividend)694-€5.50M
Social balance
Average headcount (FTE)908728.531.7▲
The notes to these accounts (67 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
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 €2.06M ▲31.9%
Operating result €2.73M, net result €2.06M, 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 €2.23M ▲51.6%
6 profitable years in a row build equity to €2.23M.
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 €2.04M ▲34.6%
3 profitable years in a row build equity to €2.04M.
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.
Directors · office · real estate
Directors
2 directors, no change since 2026
J. Pype
CurrentDirector
K. Van den Elsen
CurrentDirector
24-06-2026
R. Oostrom: Resigned as Director
Location & real-estate footprint
Registered office, Machelen (Brab.) · 2 establishment units since 2009
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.
Bedrijvenzone Machelen-Cargo 7191830 Machelen (Brab.)Ground area
1.6 ha
Building footprint
8,206 m²
Parcel 23047C0446/00A000, Flanders. Linked by address, not a title deed.
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
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
L'Ombre
BE 0841.668.406
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PHENICE
BE 0430.359.306
Brussel · Eq €737,067
GV BERATUNGSGESELLSCHAFT
BE 0476.535.363
De Panne · Eq €735,700
WR Holding
BE 0770.791.494
Geel · Eq €734,662
Zakenkantoor Derumeaux
BE 0423.364.913
Wevelgem · Eq €733,611
Of 24,500 companies in sector 82990 we hold annual accounts for 9,404. 5,159 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
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
Sources
Crossroads Bank for EnterprisesNational Bank · 16 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.