KARGO PUBLISHING
ActiveKARGO PUBLISHING has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-919) and a net result of €-6k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 16% of 1970 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
15
/ 100
Critical▲ +8 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability100▲+100
Solvency33▲+15
Growth32▼-20
Stability100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.4 against 0.89 in 2024), and equity is negative.
Credit advice for your own amount and term
Signals
Eight 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 90
Relative position
BE, all sectors
reference
Sector 90
lower
← fewer bankruptcies
more bankruptcies →
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
-2.2%
Return on assets
-13.2%
Age of the figures
8 mo
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 · Negative equity
Equity is negative for financial year 2025: liabilities exceed assets. This is the trigger point of the alarm-bell procedure (Belgian CAC).
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€919
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-07-2026, 21 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
21 d early
2024
61 d late
2023
26 d late
2022
28 d early
2021
61 d late
2020
27 d late
2019
91 d late
← before the deadline
after the deadline →
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
15-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€-919
2024 · €12k
2019: €6k
2020: €-15k
2021: €113k
2022: €60k
2023: €55k
2024: €12k
2019 → 2025
Total assets
€43k▼ 47.3%
2024 · €81k
2019: €77k
2020: €32k
2021: €194k
2022: €147k
2023: €123k
2024: €81k
2019 → 2025
Net result
€-6k▲ 84.6%
2024 · €-36k
2019: €103
2020: €-21k
2021: €-11k
2022: €-46k
2023: €2k
2024: €-36k
2019 → 2025
Working capital
€-26k▼ 323%
2024 · €-6k
2019: €37k
2020: €-28k
2021: €114k
2022: €65k
2023: €62k
2024: €-6k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€113k-€60k▼ 47.2%€55k▼ 7.9%€12k▼ 78.8%€-919
Operating result€-14k-€-52k▼ 274%€-3k▲ 93.5%€-42k▼ 1,158%€-11k▲ 73.6%
Net result€-11k-€-46k▼ 320%€2k€-36k€-6k▲ 84.6%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €11k in 2025 against €42k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €43k
Fixed assets
€25k▼ 20.5%
Current assets
€18k▼ 64.3%
Key figures and ratios
EBITDA
€-941▲
2024 · €-32k
Cash flow
€5k▲
2024 · €-26k
Solvency
-2.2%▼
2024 · 14.5%
Current ratio
0.40▼
2024 · 0.89
Quick ratio
0.40▼
2024 · 0.89
ROA
-13.2%▲
2024 · -45.0%
Interest coverage
-0.63▲
2024 · -24.14
Debt
€43k▼
2024 · €69k
Debt ≤ 1 year
€43k▼
2024 · €55k
Debt > 1 year
€0▼
2024 · €14k
Equity ratios withheld: equity of €-919 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€81k€43k▼
Formation expenses20€0-
Fixed assets21/28€31k€25k▼
Intangible fixed assets21€8k€5k▼
Tangible fixed assets22/27€18k€17k▼
Plant, machinery and equipment23€14k€9k▼
Furniture and vehicles24€3k€2k▼
Other tangible fixed assets26-€6k
Assets under construction and advance payments27€2k€0▼
Financial fixed assets28€6k€3k▼
Current assets29/58€49k€18k▼
Amounts receivable within one year40/41€28k€13k▼
Trade receivables40€21k€10k▼
Other amounts receivable41€6k€3k▼
Cash at bank and in hand54/58€21k€5k▼
Equity and liabilities
Total equity and liabilities10/49€81k€43k▼
Equity10/15€12k€-919▼
Contributions10/11€114k€114k=
Profit (loss) carried forward14€-113k€-118k▼
Investment grants15€11k€4k▼
Amounts payable17/49€69k€43k▼
Amounts payable after more than one year17€14k€0▼
Financial debts170/4€14k€0▼
Amounts payable within one year42/48€55k€43k▼
Current portion of amounts payable after more than one year42€20k€14k▼
Trade debts44€12k€4k▼
Suppliers440/4€12k€4k▼
Taxes, remuneration and social security45€445€5k▲
Taxes450/3€445€873▲
Remuneration and social security454/9-€4k
Other amounts payable47/48€23k€21k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€10k€10k▼
Other operating charges640/8€1k€527▼
Gross operating margin9900€-31k€-414▲
Operating profit (loss)9901€-42k€-11k▲
Financial income75/76B€7k€7k=
Recurring financial income75€7k€7k=
Financial charges65/66B€1k€2k▲
Recurring financial charges65€1k€2k▲
Profit (loss) for the period before taxes9903€-36k€-6k▲
Income taxes67/77€0-
Profit (loss) for the period9904€-36k€-6k▲
Profit (loss) for the period to be appropriated9905€-36k€-6k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-113k€-118k▼
Profit (loss) brought forward from the previous period14P€-76k€-113k▼
The notes to these accounts (19 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
10-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 61 days late
2024
26-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 26 days late
2023
31-12
Financial
Back to profitnet €2k
Net result €2k after 3 loss-making years.
03-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €-46k
Net result drops to €-46k, the lowest in the series; recovery starts the following year.
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 61 days late
2021
31-12
Financial
Liquidity times 13current ratio 3.89
Current ratio from 0.29 to 3.89; short-term debt falls from €40k to €40k.
31-12
Financial
Equity above €100kEq €113k
Equity rises from €-15k to €113k.
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 27 days late
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 91 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 acts for this company are 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, Liège · 1 establishment unit since 2018
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.
Rue Lambert-le-Bègue 214000 LiègeGround area
159 m²
Building footprint
87 m²
Parcel 62813E0329/00B002, Wallonia. Linked by address, not a title deed.
1 establishment unit
KARGO PUBLISHING
since 20182.277.047.086
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62813E0329/00B002 | Wallonia | 159 m² | 1 · 87 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.
Structure & network
Connections & network
1 connected companyNetwork connections
Shared address
→
Public money · subsidies and aid
Wallonia-Brussels Federation
2025 · 2 entries · 10,000 EUR in total| Year | Entries | paid |
|---|---|---|
| 2025 | 2 | 10,000 EUR |
Budget allocations
Aides ponctuelles dans le domaine des musiques
Similar companies · same sector, comparable size
EXHALE
BE 0690.933.176
Antwerpen · Eq €12k
National Orchestra Productions
BE 0737.952.046
Brussel · Eq €12k
Quality Crew Events
BE 0801.639.474
Dilbeek · Eq €11k
Eén pot nat
BE 0798.583.578
Gent · Eq €11k
PRO-5
BE 0434.934.241
Leuven · Eq €12k
Of 3,513 companies in sector 90391 we hold annual accounts for 677. 391 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded27-06-2018
Fiscal year end31-12
Activities, NACEBEL
90021Arts creation and performing arts activities
90391Promotion and organisation of arts and performing arts events
58190Other publishing activities, excluding software publishing
59203Motion picture, video and television programme production, sound recording and music publishing activities
63120Computing infrastructure, data processing, hosting and other information service activities
63910Web portal activities
70210Activities of head offices; management consultancy activities
73300Public relations and communication consultancy
74901Other professional, scientific and technical activities
74991Agents and managers of artists, athletes and other public figures
90201Performing arts by independent artists
90202Performing arts by artistic ensembles
Sources
Crossroads Bank for EnterprisesNational Bank · 7 filingsAddress and cadastre registers
Data from official sources, last processed on 15-09-2026. Scores and ratios are computed by Checked and are not a credit decision.