Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 39 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
ASHG Belgium from Gent, company number BE0720681096, closed financial year 2025 with a result of € -1.5 million after tax. Compared with financial year 2024, the result moved from € -1.5 million to € -1.5 million. The company made a loss. 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 June 8, 2026.
€ 55.3 million
▲ 19% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -1.5 million
▲ 2 % less loss than in 2024
Profit after tax over the fiscal year.
€ 3.6 million
▼ 37% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -28.2 million.
People and assets in 2025
12.7
▼ 1.1 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.4 million
▼ 1% vs 2024
€ 113,500 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 67,352
▲ 10% vs 2024
Of which on lease € 64,974.
Debts at end 2025
€ 31.3 million
▼ 6% vs 2024
€ 20,398 is repaid this year. At this pace the long-term loan is gone in ≈ 147 years.
€ 85,303
▼ 79% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 58 days on average.
€ 196,756
▼ 60% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Profit after taxes | € -706,169 | € -10,625,180 | € -1,520,189 | € -1,486,360 | ▲ € 33,828 |
| Equity | € 39,956,799 | € 31,627,618 | € 46,570,635 | € 55,272,690 | ▲ 19% |
| Total debts | € 29,574,792 | € 31,574,281 | € 39,816,650 | € 31,630,411 | ▼ 21% |
| Cash | € 1,081,456 | € 940,139 | € 5,761,902 | € 3,646,139 | ▼ 37% |
| Retained profit | € -14,554,889 | € -25,180,069 | € -26,700,258 | € -28,186,618 | ▼ € 1.5 million |
| Bank debt | € 25,085,932 | € 24,925,779 | € 33,170,920 | € 31,323,498 | ▼ 6% |
| Balance sheet total | € 69,531,591 | € 63,201,899 | € 86,387,285 | € 86,903,101 | ▲ 1% |
| Employees (FTE) | 14.1 | 13.9 | 13.8 | 12.7 | ▼ 1.1 |
Key figures of ASHG Belgium, 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 ASHG Belgium?
What happened at ASHG Belgium in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Steven Lewerenz stepped down as director. NBB
- Andre Guettouche stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 1.5 million. Source: NBB ↗
- Steven Lewerenz became a director. NBB
- Andre Guettouche became a director. NBB
- New establishment in Gent. KBO
- Start of the company according to the CBE. KBO
In short
From € 706,169 loss in 2022 to € 1.5 million loss in 2025.
Paid € 19,490 in corporate taxes since 2022.
Pays suppliers within 58 days on average.
Management
The shares are held by ASHG Belgium S.a.r.l. (100%). It owns 100% of ASHG Brussels S. Comm, 100% of ASHG Hasselt, 100% of ASHG Antwerp Centre, 100% of ASHG Hasselt Express, 100% of ASHG Ghent and 100% of ASHG Liège itself.
Directors
According to the 2025 annual accounts
since 2024 · until 2030
since 2024 · until 2030
Shareholders
ASHG Belgium S.a.r.l.
100%
Participations
100%
100%
100%
100%
100%
100%
100%
Establishments
Establishment units
Physical locations of this company
Maaltekouter 3
9051 Gent
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 3 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
- 0720.681.096
- VAT number
- BE 0720.681.096
- Registered office
- Maaltekouter 3, 9051 Gent
- Names & denominations
- ASHG Belgium
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 13 February 2019
- Peppol
- Active · Active since 9 Sept 2025
- Activities · NACE
Activiteiten van hoofdkantoren
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