ACTIVE

HARGO LOGISTICS

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Financial year 2025 · closed on 31/12/2025

Net result

1 M €

+131.5% YoY

Gross margin

3,2 M €

+41.0% YoY

Equity

1,9 M €

+113.0% YoY

Workforce

18,5 ETP

-36.0% YoY

What does HARGO LOGISTICS do?

HARGO LOGISTICS is a Private limited company incorporated in 1999. Its registered office is in Antwerpen. It employs on average 18,5 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0468.835.048

Incorporation

24/12/1999

Legal form

Private limited company

Registered office

Scheldelaan 8 box D
2030 Antwerpen · FlandreSee on map

Contributed capital

25 700,00 €

Latest accounts

31/12/2025

Average workforce

18,5 ETP

Joint committees (3)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	3,2 M €	+41.0%	2,3 M €	+18.3%	1,9 M €	+15.0%	1,7 M €	+16.1%	1,5 M €	+18.2%	1,2 M €	+10.6%	1,1 M €	+2.5%	1,1 M €	-2.4%	1,1 M €	+8.2%	1 M €	+22.9%	834 k €	+20.0%	695,1 k €	+58.5%	438,6 k €	+27.1%	345,2 k €	-20.0%	431,7 k €	-21.7%	551,4 k €	+17.8%	468,2 k €	-2.2%	478,6 k €	+19.1%	401,9 k €	+17.2%	343 k €
EBITDA	1,7 M €	+82.6%	949,7 k €	+118%	435,5 k €	+39.2%	312,9 k €	+14.3%	273,7 k €	+2.3%	267,6 k €	+26.2%	212,1 k €	+5.3%	201,3 k €	-8.5%	220 k €	+8.4%	202,9 k €	+21.2%	167,4 k €	+35.2%	123,7 k €	+40.1%	88,3 k €	+1394%	-6,8 k €	-106%	114,1 k €	-38.5%	185,4 k €	+72.2%	107,7 k €	-9.9%	119,5 k €	+5.6%	113,1 k €	-3.0%	116,7 k €
Operating result	1,4 M €	+122%	648,6 k €	+358%	141,7 k €	+71.0%	82,9 k €	+121%	37,5 k €	-37.3%	59,8 k €	+8.8%	55 k €	-13.8%	63,8 k €	+16.1%	54,9 k €	-4.9%	57,8 k €	+42.8%	40,5 k €	+30.8%	30,9 k €	+117%	14,3 k €	+163%	-22,6 k €	-123%	99,3 k €	-44.5%	179,1 k €	+88.8%	94,9 k €	-9.7%	105 k €	+6.6%	98,5 k €	-0.6%	99,1 k €
Net result	1 M €	+131%	432,5 k €	+617%	60,3 k €	+105%	29,4 k €	+74.9%	16,8 k €	+70.2%	9,9 k €	+64.2%	6 k €	-63.7%	16,6 k €	+110%	7,9 k €	+132%	3,4 k €	+512%	554,6 €	-46.8%	1 k €	+89.6%	550 €	+102%	-24,6 k €	-143%	57,6 k €	-46.4%	107,6 k €	+84.8%	58,2 k €	-9.0%	64 k €	+14.4%	55,9 k €	+21.5%	46 k €
Balance sheet
Equity	1,9 M €	+113%	885,6 k €	+95.4%	453,2 k €	+15.4%	392,8 k €	+8.1%	363,4 k €	+4.8%	346,6 k €	+2.9%	336,7 k €	+1.8%	330,7 k €	+5.3%	314,1 k €	+2.6%	306,3 k €	+1.1%	302,9 k €	+0.2%	302,3 k €	+0.3%	301,3 k €	+4.8%	287,4 k €	-7.9%	312 k €	+22.7%	254,3 k €	+30.6%	194,7 k €	+4.5%	186,3 k €	-3.1%	192,3 k €	+19.2%	161,4 k €
Total assets	4,7 M €	+20.4%	3,9 M €	+2.3%	3,8 M €	-10.2%	4,3 M €	+32.4%	3,2 M €	+19.5%	2,7 M €	-32.5%	4 M €	+66.4%	2,4 M €	-0.7%	2,4 M €	+30.6%	1,9 M €	-4.8%	2 M €	+20.4%	1,6 M €	+48.4%	1,1 M €	+41.4%	771,6 k €	+14.6%	673,5 k €	+3.2%	652,7 k €	+18.1%	552,8 k €	+2.6%	538,7 k €	-4.6%	564,7 k €	+13.6%	497,3 k €
Cash	974,3 k €	+238%	288 k €	+155%	112,9 k €	-16.2%	134,6 k €	+38.9%	96,9 k €	-40.5%	162,8 k €	+143%	66,9 k €	+61.9%	41,3 k €	-63.1%	111,9 k €	+10.4%	101,3 k €	+145%	41,4 k €	+260%	11,5 k €	+163%	4,4 k €	-98.2%	241,4 k €	+85.1%	130,4 k €	+132%	56,3 k €	-9.3%	62 k €	-68.3%	195,5 k €	+48.1%	132 k €	+375%	27,8 k €
Debts	2,7 M €	-11.0%	3 M €	-9.8%	3,4 M €	-12.3%	3,8 M €	+34.9%	2,9 M €	+23.6%	2,3 M €	-37.0%	3,7 M €	+76.7%	2,1 M €	-1.2%	2,1 M €	+35.6%	1,5 M €	-5.8%	1,6 M €	+25.5%	1,3 M €	+66.3%	787,9 k €	+63.0%	483,4 k €	+70.3%	283,8 k €	-13.0%	326,3 k €	+13.9%	286,5 k €	+3.2%	277,5 k €	-6.9%	298,2 k €	+15.0%	259,4 k €
Other
Workforce	18,5 ETP	-36.0%	28,9 ETP	-14.0%	33,6 ETP	-5.6%	35,6 ETP	+12.7%	31,6 ETP	+131%	13,7 ETP	+7.0%	12,8 ETP	+4.1%	12,3 ETP	-15.2%	14,5 ETP	+7.4%	13,5 ETP	+27.4%	10,6 ETP	+26.2%	8,4 ETP	+42.4%	5,9 ETP	-13.2%	6,8 ETP	+7.9%	6,3 ETP	+3.3%	6,1 ETP	0.0%	6,1 ETP	+1.7%	6,0 ETP	+33.3%	4,5 ETP	+4.7%	4,3 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 5 M€ and 10 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 11 ended

Active mandates

MICLU

Administrator - manager · 0840.720.972

Represented by Ludo MICHIELSEN

Active

OLIFRA

Administrator - manager · 0678.599.528

Represented by Magali BAEKELMANS

Active

Ended mandates

Alfons Harman

Director

Ended

Alfons Harman

Manager

Ended

MICLU

Manager · 0840.720.972

Represented by Ludo Michielsen

Ended

MICLU

Manager · 0840.720.972

Represented by Ludo Michielsen

Ended

At this address

Other companies at this address

Company	CBE no.
Kaai 373● Active	0738.551.565
SAYBOLT BELGIUM● Active	0463.727.603
THREADLINE BELGIUM● Active	0895.819.546
VIJFDE HAVENDOK● Active	0465.991.067

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	30/07/2026	05/06/2026	29/07/2024	26/07/2023	28/07/2022	10/09/2021
General meeting	03/06/2026	04/06/2025	05/06/2024	07/06/2023	01/06/2022	02/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

23 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	03/06/2026	30/07/2026	Dutch	PDF
Abridged modelCorrection	31/12/2024	04/06/2025	05/06/2026	Dutch	PDF
Abridged modelCorrection	31/12/2024	04/06/2025	24/07/2025	Dutch	PDF
Abridged model	31/12/2024	04/06/2025	23/07/2025	Dutch	PDF
Abridged model	31/12/2023	05/06/2024	29/07/2024	Dutch	PDF
Abridged model	31/12/2022	07/06/2023	26/07/2023	Dutch	PDF
Abridged model	31/12/2021	01/06/2022	28/07/2022	Dutch	PDF
Abridged modelCorrection	31/12/2020	02/06/2021	10/09/2021	Dutch	PDF
Abridged model	31/12/2020	02/06/2021	30/07/2021	Dutch	PDF
Abridged model	31/12/2019	03/06/2020	31/07/2020	Dutch	PDF
Abridged model	31/12/2018	05/06/2019	01/10/2019	Dutch	PDF
Abridged model	31/12/2017	06/06/2018	27/09/2018	Dutch	PDF
Abridged model	31/12/2016	07/06/2017	26/07/2017	Dutch	PDF
Abridged model	31/12/2015	01/06/2016	27/07/2016	Dutch	PDF
Abridged model	31/12/2014	03/06/2015	31/07/2015	Dutch	PDF
Abridged model	31/12/2013	04/06/2014	24/07/2014	Dutch	PDF
Abridged model	31/12/2012	05/06/2013	25/06/2013	Dutch	PDF
Abridged model	31/12/2011	06/06/2012	21/08/2012	Dutch	PDF
Abridged model	31/12/2010	01/06/2011	18/08/2011	Dutch	PDF
Abridged model	31/12/2009	02/06/2010	27/08/2010	Dutch	PDF
Abridged model	31/12/2008	03/06/2009	30/06/2009	Dutch	PDF
Abridged model	31/12/2007	04/06/2008	16/07/2008	Dutch	PDF
Abridged model	31/12/2006	06/06/2007	03/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 5 M€ and 10 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 11 ended

Active mandates

MICLU

Administrator - manager · 0840.720.972

Represented by Ludo MICHIELSEN

Active

OLIFRA

Administrator - manager · 0678.599.528

Represented by Magali BAEKELMANS

Active

Ended mandates

Alfons Harman

Director

Ended

Alfons Harman

Manager

Ended

MICLU

Manager · 0840.720.972

Represented by Ludo Michielsen

Ended

MICLU

Manager · 0840.720.972

Represented by Ludo Michielsen

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Other29/03/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM
PDF
Mandates15/02/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates13/06/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates11/05/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates13/04/2017
ONTSLAGEN - BENOEMINGEN
PDF
Registered office28/12/2016
MAATSCHAPPELIJKE ZETEL
PDF
Mandates22/07/2013
ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/02/2012
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 20251 M €↑
2024
Annual accounts 2024432,5 k €↑
2023
Annual accounts 202360,3 k €↑
2022
Annual accounts 202229,4 k €↑
2021
Annual accounts 202116,8 k €↑
2020
Annual accounts 20209,9 k €↑
2019
Annual accounts 20196 k €↓
2018
Annual accounts 201816,6 k €↑
2017
Annual accounts 20177,9 k €↑
2016
Annual accounts 20163,4 k €↑
2015
Annual accounts 2015554,6 €↓
2014
Annual accounts 20141 k €↑
2013
Annual accounts 2013550 €↑
2012
Annual accounts 2012-24,6 k €↓
2011
Annual accounts 201157,6 k €↓
2010
Annual accounts 2010107,6 k €↑
2009
Annual accounts 200958,2 k €↓
2008
Annual accounts 200864 k €↑
2007
Annual accounts 200755,9 k €↑
2006
Annual accounts 200646 k €
24/12/1999
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

HARGO LOGISTICS

Overview

What does HARGO LOGISTICS do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline