QUGRO
ActiveSummary
QUGRO has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€438,114) and a net result of €14,620. Equity remains stable across the filed fiscal years (±1.3% per year). Its solvency ranks better than 5% of 3163 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2023
Profitability100▲+100
Solvency0=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.3 against 0.46 in 2023; short-term debt: 331.4% and cash: 70.2% of total assets), and equity is negative.
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Signals
Five 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 01
Relative position
BE, all sectors
reference
Crop and animal production, hunting and related service activities (NACE 01)
about 70% fewer bankruptcies
← 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
Return on assets
282.9%
Age of the figures
18 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 5% of 3163 sector peers (2025).
NBB · sector comparisonPosition among 3163 sector peers
Solvency
better than 5%
← 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 31-10-2025, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2023
on the day
2022
on the day
2021
on the day
2020
26 d late
2019
on the day
2018
on the day
← 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 4 days after the deadline; the sector median for financial year 2023 is 2 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2025, micro schema
Equity
-€438,114▲ 3.2%
2023 · -€452,733
Total assets
€5,168▼ 70.4%
2023 · €17,487
Net result
€14,620
2023 · -€18,114
Working capital
-€11,959▲ 11.4%
2023 · -€13,499
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 01, Crop and animal production, hunting and related service activities, 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
Line20202021202220232025
Operating result€31,001▼ 82.9%€26,074▼ 15.9%-€13,588-€17,384▼ 27.9%€13,620-
Net result€39,412above the sector's middle half▼ 75.0%€25,671within the sector's middle half▼ 34.9%-€14,101below the sector's middle half-€18,114below the sector's middle half▼ 28.5%€14,620within the sector's middle half-
Equity-€446,190below the sector's middle half▲ 6.3%-€420,519below the sector's middle half▲ 5.8%-€434,620below the sector's middle half▼ 3.4%-€452,733below the sector's middle half▼ 4.2%-€438,114below the sector's middle half-
Total assets€68,899below the sector's middle half▼ 36.1%€70,498below the sector's middle half▲ 2.3%€46,600below the sector's middle half▼ 33.9%€17,487below the sector's middle half▼ 62.5%€5,168below the sector's middle half-
Debt€515,089▼ 11.7%€491,016▼ 4.7%€481,220▼ 2.0%€470,220▼ 2.3%€443,282-
Working capital€2,913within the sector's middle half€20,597within the sector's middle half▲ 607%€13,381within the sector's middle half▼ 35.0%-€13,499within the sector's middle half-€11,959within the sector's middle half-
Solvency-647.6%below the sector's middle half▼ 206.1pp-596.5%below the sector's middle half▲ 51.1pp-932.7%below the sector's middle half▼ 336.2pp
Current ratio1.07within the sector's middle half▲ 0.921.64within the sector's middle half▲ 0.571.60within the sector's middle half▼ 0.040.46below the sector's middle half▼ 1.140.30below the sector's middle half-
Return on assets (ROA)57.2%above the sector's middle half▼ 89.0pp36.4%above the sector's middle half▼ 20.8pp-30.3%below the sector's middle half▼ 66.7pp-103.6%below the sector's middle half▼ 73.3pp282.9%above the sector's middle half-
above
within
below
the middle half (P25 to P75) of NACE 01, Crop and animal production, hunting and related service activities, 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 is €13,620 in 2025, compared with -€17,384 in 2023. Comparable figures for the intervening years are unavailable.
Key figures and ratios
Debt to equity
-1.01▲
2023 · -1.04
Debt ≤ 1 year
€17,127▼
2023 · €25,100
Debt > 1 year
€425,000▼
2023 · €445,000
Income taxes
€553▲
2023 · €503
A ratio outside any meaningful range has been withheld (balance sheet total €5,168, equity -€438,114).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,632 companies that looked in July 2024 the way this one looks now, 2.9% went bankrupt within 24 months and 92% are still going.
- Micro
- 10 to 20 years old
- negative equity
- a profit of 5% of the balance sheet or more
2.9%
went bankrupt
4.8%
stopped otherwise
92%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.2% 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 497,338 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% | 1.9% |
| 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 3,632 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 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,490 | €6,949 | €6,949 | €4,976 | - | - |
| Other operating charges640/8 | - | - | €1,110 | €2,120 | €4,448 | - |
| Gross operating margin9900 | €46,631 | €33,479 | -€5,530 | -€10,288 | €18,068 | - |
| Operating profit (loss)9901 | €31,001 | €26,074 | -€13,588 | -€17,384 | €13,620 | - |
| Financial income75/76B | - | - | €162 | - | €2,004 | - |
| Recurring financial income75 | €9,387 | €333 | €162 | - | €2,004 | - |
| Financial charges65/66B | - | - | €200 | €226 | €452 | - |
| Recurring financial charges65 | €1,259 | €195 | €200 | €226 | €452 | - |
| Profit (loss) for the period before taxes9903 | €39,128 | €26,212 | -€13,627 | -€17,611 | €15,172 | - |
| Income taxes67/77 | €210 | €541 | €474 | €503 | €553 | - |
| Profit (loss) for the period9904 | €39,412 | €25,671 | -€14,101 | -€18,114 | €14,620 | - |
| Profit (loss) for the period to be appropriated9905 | €39,412 | €25,671 | -€14,101 | -€18,114 | €14,620 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €68,899 | €70,498 | €46,600 | €17,487 | €5,168 | - |
| Fixed assets21/28 | €24,759 | €17,810 | €10,862 | €5,886 | - | - |
| Tangible fixed assets22/27 | €22,451 | €15,502 | €8,554 | €3,578 | - | - |
| Furniture and vehicles24 | - | - | €8,554 | €3,578 | - | - |
| Financial fixed assets28 | €2,308 | €2,308 | €2,308 | €2,308 | - | - |
| Current assets29/58 | €44,140 | €52,687 | €35,738 | €11,601 | €5,168 | - |
| Amounts receivable within one year40/41 | €30,746 | €20,042 | €6,282 | €79 | €1,019 | - |
| Trade receivables40 | - | - | €6,050 | - | €1,019 | - |
| Other amounts receivable41 | - | - | €232 | €79 | - | - |
| Cash at bank and in hand54/58 | €11,809 | €31,059 | €27,945 | €9,910 | €3,630 | - |
| Deferred charges and accrued income490/1 | - | - | €1,511 | €1,613 | €519 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €68,899 | €70,498 | €46,600 | €17,487 | €5,168 | - |
| Equity10/15 | -€446,190 | -€420,519 | -€434,620 | -€452,733 | -€438,114 | - |
| Contributions10/11 | - | - | €18,600 | €18,600 | €18,600 | - |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | - | - |
| Non-distributable reserves130/1 | - | - | €1,860 | €1,860 | - | - |
| Reserves not available under the articles1311 | - | - | €1,860 | €1,860 | - | - |
| Profit (loss) carried forward14 | -€466,650 | -€440,979 | -€455,080 | -€473,193 | -€456,714 | - |
| Amounts payable17/49 | €515,089 | €491,016 | €481,220 | €470,220 | €443,282 | - |
| Amounts payable after more than one year17 | €473,862 | €458,862 | €458,862 | €445,000 | €425,000 | - |
| Other amounts payable178/9 | - | - | €458,862 | €445,000 | €425,000 | - |
| Amounts payable within one year42/48 | €41,226 | €32,090 | €22,358 | €25,100 | €17,127 | - |
| Trade debts44 | €16,734 | €8,902 | €7,695 | €8,729 | €522 | - |
| Suppliers440/4 | - | - | €7,695 | €8,729 | €522 | - |
| Taxes, remuneration and social security45 | - | - | €1,408 | €2,425 | €3,316 | - |
| Taxes450/3 | - | - | €1,408 | €2,425 | €3,316 | - |
| Other amounts payable47/48 | - | - | €13,255 | €13,946 | €13,290 | - |
| Accrued charges and deferred income492/3 | - | - | - | €120 | €1,155 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €39,412 | €25,671 | -€14,101 | -€18,114 | €14,620 | - |
| + Depreciation and write-downs630 | €5,490 | €6,949 | €6,949 | €4,976 | - | - |
| Operating cash flow (approximation) | €44,902 | €32,620 | -€7,152 | -€13,138 | €14,620 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | - | - |
| Change in cash | - | €19,250 | -€3,114 | -€18,036 | - | - |
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
31-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-03
Financial
Back to profitnet €14,620
Net result €14,620 after 2 loss-making years.
2024
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Weakest financial yearnet -€18,114
Net result drops to -€18,114, the lowest in the series; recovery starts the following year.
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
26-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
30-06
Financial
Liquidity times 7current ratio 1.07
Current ratio from 0.15 to 1.07; short-term debt falls from €583,593 to €41,226.
31-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
31-01
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 365 days late
2017
23-02
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 23 days late
2016
29-01
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Zonnebeke · 1 establishment unit since 2008
Ground area
701 m²
Building footprint
167 m²
Volume, LiDAR
840 m³
Parcel 33037B0006/00R000, Flanders · tallest building 7.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
QUGRO
since 20082.171.440.416
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 33037B0006/00R000 | Flanders | 701 m² | 1 · 167 m² | 7.2 m · 2 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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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 4,676 companies in sector 01610 we hold annual accounts for 1,369. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded04-06-2008
Fiscal year end31-03
Activities, NACEBEL 2025
01610Support activities for crop production
E-invoicing
Reachable via Peppol
Peppol ID
0208:0898341843
Also
9925:BE0898341843
Registered
02-01-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.