Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 35 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
ALGO from Maldegem, company number BE0465183690, closed financial year 2025 with a result of € 171,481 after tax. For that financial year ALGO recorded a gross margin of € 712,131 and equity of € 1.6 million. Compared with financial year 2024, the result moved from € 79,466 to € 171,481. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 22, 2026.
€ 1.6 million
▲ 12% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 171,481
▲ 116% vs 2024
Profit after tax over the fiscal year.
€ 6,479
▲ 13% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -92,592.
People and assets in 2025
0
Average over the fiscal year, from the social balance sheet.
€ 953,228
▼ 8% vs 2024
Of which on lease € 950,708.
Debts at end 2025
€ 2 million
▲ 12% vs 2024
€ 303,368 is repaid this year. At this pace the long-term loan is gone in ≈ 5 years.
€ 784,988
▼ 5% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 176
▲ 1% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 295,883 | € 545,038 | € 494,768 | € 712,131 | ▲ 44% |
| Profit after taxes | € 212,783 | € 343,404 | € 79,466 | € 171,481 | ▲ 116% |
| Equity | € 768,030 | € 1,251,433 | € 1,397,900 | € 1,569,381 | ▲ 12% |
| Total debts | € 917,529 | € 1,469,099 | € 2,813,177 | € 2,877,413 | ▲ 2% |
| Cash | € 2,505 | € 2,030 | € 5,733 | € 6,479 | ▲ 13% |
| Land & buildings | - | € 546,728 | € 879,998 | € 1,100,431 | ▲ 25% |
| Retained profit | € -686,944 | € -343,540 | € -264,074 | € -92,592 | ▲ € 171,481 |
| Bank debt | € 190,778 | € 512,690 | € 1,773,937 | € 1,988,309 | ▲ 12% |
| Balance sheet total | € 1,685,559 | € 2,720,532 | € 4,234,962 | € 4,465,092 | ▲ 5% |
Key figures of ALGO, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to ALGO?
What happened at ALGO in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Arne Goethals stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 171,481 (▲ 116% vs 2024). Source: NBB ↗
- Arne Goethals became a director. NBB
- Martine De Zutter became a director. NBB
- Koen Goethals became a director. NBB
- New establishment in Assenede. KBO
- Start of the company according to the CBE. KBO
In short
From € 212,783 profit in 2022 to € 171,481 profit in 2025.
Paid € 664 in corporate taxes since 2022.
Best year ever: 2023, with € 343,404 profit.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of WAASVAR comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
ALGOBehind ALGO are Martine De Zutter and Koen Goethals. The shares are held by WAASVAR (29.6%).
Directors
According to the 2025 annual accounts
Martine De Zutter
Director
since 2021
Koen Goethals
Managing director
Also active at: International Pig Industry, LARAGRO, ARKO, KAMPELHOF, HAZELARENHOEK, SIBAVAR
since 2021
Arne Goethals
Director
Also active at: International Pig Industry, LARAGRO, ARKO, KAMPELHOF, KG BOUWTECHNIEK, SIBAVAR
since 2025 · until 2031
Shareholders
29.6%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Grote Nieuwhofdreef 36 box b
9990 Maldegem
Veldstraat 12
9960 Assenede
Active since 15 March 1999
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0465.183.690
- VAT number
- BE 0465.183.690
- Registered office
- Grote Nieuwhofdreef 36 bus b, 9990 Maldegem
- Names & denominations
- ALGO
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 7 January 1999
- Peppol
- Active · Active since 27 Mar 2026
- Activities · NACE
Teelt van groenten, meloenen en wortel- en knolgewassen
Groothandel in granen, zaden en diervoeders
Groothandel in akkerbouwproducten en veevoeders, algemeen assortiment
Ondersteunende activiteiten in verband met de teelt van gewassen
Teelt van andere granen dan rijst, en van peulgewassen en oliehoudende zaden