NV CARGO
ActiveSummary
The computed 12-month bankruptcy probability of NV CARGO is 3.7% (moderate). The 2024 annual accounts show equity of €323,375 and a net result of -€36,077. Equity is growing by ~25.2% per year across the filed fiscal years. Its solvency ranks better than 19% of 1126 sector peers (fiscal year 2024). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
Axes · tick = 2023
Profitability18▼-34
Solvency37=
Growth68▼-17
Track record100
Bankruptcy probability, 12 months
3.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €12,000 at 30 days only on tighter terms
Liquidity tight (current ratio 1.1 against 1.1 in 2023; short-term debt: 84.2% and cash: 44.2% of total assets), and 88% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 49
Relative position
BE, all sectors
reference
Land transport and transport via pipelines (NACE 49)
about 141% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2024Solvency, return and age of the figures
Solvency
12%
Return on assets
-1.3%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 19% of 1126 sector peers (2024).
NBB · sector comparisonPosition among 1126 sector peers
Solvency
better than 19%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 28-08-2025, 28 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 · 5 filingsDeviation from the deadline
2025
not confirmed
2024
28 d late
2023
302 d late
2022
92 d late
2021
82 d late
2020
90 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 119 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 49% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, full schema
Turnover
€20.3m▲ 247%
2022 · €5.8m
EBIT margin
0.0%▼ 0.9pp
2022 · 0.9%
Net result
-€36,077
2023 · €134,495
Working capital
€216,471▲ 7.0%
2023 · €202,310
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, 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
Line20202021202220232024
Turnover€1.5m-€3.4m▲ 129%€5.8m▲ 71.8%€20.3m
Operating result€79,848-€145,534▲ 82.3%€51,565▼ 64.6%€154,619▲ 200%-€9,715
Net result€72,986within the sector's middle half-€128,688within the sector's middle half▲ 76.3%-€6,363below the sector's middle half€134,495within the sector's middle half-€36,077below the sector's middle half
EBIT margin5.4%-4.3%▼ 1.1pp0.9%▼ 3.4pp0.0%
Equity€92,986within the sector's middle half-€221,674within the sector's middle half▲ 138%€215,311within the sector's middle half▼ 2.9%€275,057within the sector's middle half▲ 27.7%€323,375within the sector's middle half▲ 17.6%
Total assets€670,619within the sector's middle half-€907,226within the sector's middle half▲ 35.3%€1.1mwithin the sector's middle half▲ 20.5%€2.4mwithin the sector's middle half▲ 116%€2.7mwithin the sector's middle half▲ 14.3%
Debt€577,633-€685,552▲ 18.7%€877,953▲ 28.1%€2.1m▲ 138%€2.4m▲ 13.8%
Working capital-€37,881-€69,647€144,730▲ 108%€202,310▲ 39.8%€216,471▲ 7.0%
Solvency13.9%below the sector's middle half-24.4%within the sector's middle half▲ 10.6pp19.7%within the sector's middle half▼ 4.7pp11.6%below the sector's middle half▼ 8.0pp12.0%below the sector's middle half▲ 0.3pp
Staff (FTE)1.6below the sector's middle half-3.7below the sector's middle half▲ 131%5.6below the sector's middle half▲ 51.4%7.7within the sector's middle half▲ 37.5%
above
within
below
the middle half (P25 to P75) of NACE 49, Land transport and transport via pipelines, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €9,715 after €154,619 in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €2.7m
Fixed assets
€210,343 ▲ 76.8%
Current assets
€2.5m ▲ 11.0%
Equity and liabilities €2.7m
Equity
€323,375 ▲ 17.6%
Debt
€2.4m ▲ 13.8%
Debt's share of the balance-sheet total falls from 88.4% to 88.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
-€7,823
Cash flow
-€34,186
Current ratio
1.10▼
2023 · 1.10
Debt to equity
7.35▼
2023 · 7.59
ROE
-11.2%▼
2023 · 48.9%
ROA
-1.3%▼
2023 · 5.7%
Interest coverage
-0.30
Debt ≤ 1 year
€2.3m▲
2023 · €2.0m
Staff costs
€539,758▲
2023 · €358,048
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 747 companies that looked in July 2024 the way this one looks now, 1.2% went bankrupt within 24 months and 97% are still going.
- Small
- 5 to 10 years old
- solvency 10 to 30%
- a small loss
1.2%
went bankrupt
1.9%
stopped otherwise
97%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 3.7% 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 497,662 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% | 1.7% |
| 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 75% 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 747 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €1.5m | €3.4m | €5.8m | - | €20.3m | - |
| Goods, raw materials, services and sundry goods60/61 | - | €3.1m | €5.4m | - | €20.3m | - |
| Remuneration, social security and pensions62 | - | €161,208 | €299,467 | €358,048 | €539,758 | ▲ 50.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,911 | €11,561 | €12,689 | - | €1,891 | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €12,271 | €11,862 | ▼ 3.3% |
| Other operating charges640/8 | - | €571 | €24,011 | €11,399 | €200,259 | ▲ 1,657% |
| Gross operating margin9900 | €140,249 | €318,874 | €387,732 | €536,337 | €744,055 | ▲ 38.7% |
| Operating profit (loss)9901 | €79,848 | €145,534 | €51,565 | €154,619 | -€9,715 | ▼ 106% |
| Financial income75/76B | - | €3,625 | - | - | €64 | - |
| Recurring financial income75 | - | €3,625 | - | - | €64 | - |
| Non-recurring financial income76B | - | €3,625 | - | - | - | - |
| Financial charges65/66B | - | €5,052 | €19,949 | €17,986 | €26,427 | ▲ 46.9% |
| Recurring financial charges65 | €6,862 | €5,052 | €19,869 | €17,986 | €26,427 | ▲ 46.9% |
| Non-recurring financial charges66B | - | - | €80 | - | - | - |
| Profit (loss) for the period before taxes9903 | €72,986 | €144,107 | €31,616 | €136,633 | -€36,077 | ▼ 126% |
| Income taxes67/77 | - | €15,419 | €37,979 | €2,139 | - | - |
| Profit (loss) for the period9904 | €72,986 | €128,688 | -€6,363 | €134,495 | -€36,077 | ▼ 127% |
| Profit (loss) for the period to be appropriated9905 | €72,986 | €128,688 | -€6,363 | €134,495 | -€36,077 | ▼ 127% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €670,619 | €907,226 | €1.1m | €2.4m | €2.7m | ▲ 14.3% |
| Fixed assets21/28 | €130,867 | €152,027 | €167,990 | €118,959 | €210,343 | ▲ 76.8% |
| Tangible fixed assets22/27 | €47,637 | €67,417 | €58,130 | €44,349 | €25,488 | ▼ 42.5% |
| Plant, machinery and equipment23 | - | €24,046 | €14,758 | €977 | €25,488 | ▲ 2,509% |
| Furniture and vehicles24 | - | €43,371 | €43,372 | €43,372 | - | - |
| Financial fixed assets28 | €83,230 | €84,610 | €109,860 | €74,610 | €184,855 | ▲ 148% |
| Current assets29/58 | €539,752 | €755,199 | €925,274 | €2.2m | €2.5m | ▲ 11.0% |
| Stocks and contracts in progress3 | €50,000 | €125,511 | €68,881 | €118,781 | - | - |
| Stocks30/36 | - | €125,511 | €68,881 | €118,781 | - | - |
| Amounts receivable within one year40/41 | €159,666 | €149,863 | €463,163 | €568,721 | €1.3m | ▲ 128% |
| Trade receivables40 | - | €74,507 | €357,299 | €376,074 | €842,538 | ▲ 124% |
| Other amounts receivable41 | - | €75,356 | €105,864 | €192,646 | €452,641 | ▲ 135% |
| Cash at bank and in hand54/58 | €330,085 | €472,213 | €379,946 | €1.6m | €1.2m | ▼ 23.3% |
| Deferred charges and accrued income490/1 | - | €7,612 | €13,284 | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €670,619 | €907,226 | €1.1m | €2.4m | €2.7m | ▲ 14.3% |
| Equity10/15 | €92,986 | €221,674 | €215,311 | €275,057 | €323,375 | ▲ 17.6% |
| Contributions10/11 | - | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Profit (loss) carried forward14 | €72,986 | €201,674 | €195,311 | €255,057 | €303,375 | ▲ 18.9% |
| Amounts payable17/49 | €577,633 | €685,552 | €877,953 | €2.1m | €2.4m | ▲ 13.8% |
| Amounts payable within one year42/48 | €577,633 | €685,552 | €780,544 | €2.0m | €2.3m | ▲ 11.3% |
| Trade debts44 | €460,756 | €515,672 | €514,690 | €1.7m | €2.0m | ▲ 15.1% |
| Suppliers440/4 | - | €515,672 | €514,690 | €1.7m | €2.0m | ▲ 15.1% |
| Advances received on contracts in progress46 | - | €79,936 | €145,936 | €134,676 | €129,303 | ▼ 4.0% |
| Taxes, remuneration and social security45 | - | €36,929 | €74,700 | €123,683 | €137,823 | ▲ 11.4% |
| Taxes450/3 | - | €10,109 | €13,893 | €47,451 | €70,003 | ▲ 47.5% |
| Remuneration and social security454/9 | - | €26,820 | €60,807 | €76,232 | €67,820 | ▼ 11.0% |
| Other amounts payable47/48 | - | €53,015 | €45,218 | €52,110 | €13,144 | ▼ 74.8% |
| Accrued charges and deferred income492/3 | - | - | €97,409 | €46,212 | €103,438 | ▲ 124% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €72,986 | €128,688 | -€6,363 | €134,495 | -€36,077 | ▼ 127% |
| + Depreciation and write-downs630 | €2,911 | €11,561 | €12,689 | - | €1,891 | - |
| Operating cash flow (approximation) | €75,897 | €140,249 | €6,326 | €134,495 | -€34,186 | ▼ 125% |
| Investment in fixed assets (approximation) | - | -€32,721 | -€28,652 | €49,031 | -€93,275 | ▼ 290% |
| Change in cash | - | €142,128 | -€92,267 | €1.2m | -€361,936 | ▼ 131% |
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
2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 28 days late
29-05
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 302 days late
2024
31-12
Financial
Weakest financial yearnet -€36,077
Net result drops to -€36,077, the lowest in the series.
2023
31-12
Financial
Back to profitnet €134,495
Net result €134,495 after one loss-making year.
31-10
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 92 days late
2022
21-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 82 days late
2021
31-12
Financial
Equity above €200,000Eq €221,674 ▲138%
2 profitable years in a row build equity to €221,674.
29-10
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 90 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
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, Grâce-Hollogne · 1 establishment unit since 2019
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 Blériot(Louis) 74460 Grâce-Hollogne1 establishment unit
NV CARGO
since 20192.295.912.103
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Of 12,584 companies in sector 49410 we hold annual accounts for 8,203. 5,766 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
Founded06-11-2019
Fiscal year end31-12
Activities, NACEBEL 2025
49410Freight transport by road
52210Service activities incidental to land transportation
52250Logistics services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0737481003
Registered
07-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.