Equity
-€7,262
Debts exceed assets in financial year 2025.
AARKAM
Lifetime
10 annual accounts with figures on one time axispeak €93,040 (2023)
€86,101▼ 3.8%
lowest -€38,955 (2019)
€7,988▼ 4.7%
peak €47,000 (2018)
-€7,262▲ €5,571
€451,987▼ 10.8%
Board1 name since 2021
1 directorCRISTEL Lüdwig
Documentsfilings and deeds
19-06-202642 days before the deadline
2025abbreviated format
Equity from -€12,834 to -€7,262Cash from €8,253 to €4,158
Key points
from the 2025 annual accountsChecked score
56
Fair
Financially stronger than 52% of micro companies in real estate (NACE 68)
Probability in this band: 1.5% to 4.2%
Negative equity caps the score at 59.
Bankruptcy probability within 12 months
0.6% Low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.2% across 26,627 companies (NACE 68, micro).
About 6 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 2.5%
01-2025: 2.5%● unchanged vs 12-2024
02-2025: 2.5%● unchanged vs 01-2025
03-2025: 2.5%● unchanged vs 02-2025
04-2025: 2.5%● unchanged vs 03-2025
05-2025: 2.4%▼ -0.1 percentage points vs 04-2025
06-2025: 2.3%▼ -0.1 percentage points vs 05-2025
07-2025: 2.2%▼ -0.1 percentage points vs 06-2025
08-2025: 2.5%▲ +0.3 percentage points vs 07-2025
09-2025: 2.8%▲ +0.3 percentage points vs 08-2025highest value
10-2025: 0.5%▼ -2.3 percentage points vs 09-2025
11-2025: 0.5%● unchanged vs 10-2025
12-2025: 0.5%● unchanged vs 11-2025
01-2026: 0.5%● unchanged vs 12-2025
02-2026: 0.5%● unchanged vs 01-2026
03-2026: 0.5%● unchanged vs 02-2026
04-2026: 0.5%● unchanged vs 03-2026lowest value
05-2026: 0.5%● unchanged vs 04-2026
06-2026: 0.5%● unchanged vs 05-2026
07-2026: 0.5%● unchanged vs 06-2026
08-2026: 0.7%▲ +0.2 percentage points vs 07-2026
09-2026: 0.8%▲ +0.1 percentage points vs 08-2026
10-2026: 0.6%▼ -0.2 percentage points vs 09-2026
11-2026: 0.6%● unchanged vs 10-2026
Financial strengthAverage
Score breakdown
raises risk
Capped at 59: negative equity
1 of the last 3 accounts late
Negative equity -€7,262
Liquidity: current ratio 0.71, cash €4,158
lowers risk
Size: total assets €444,725
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 68, micro). It does better than 18% of them on solvency, 43% on liquidity, 61% on profitability and 84% on growth.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 1,379 companies had the same profile as AARKAM has now. Each dot stands for 4 companies, two years later.
94.3%
were still trading
3.2%
stopped another way
2.4%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of AARKAM itself: 0.6% within 12 months.
Test of the method
The method was tested on the 497,448 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,379 companies, not a prediction for AARKAM. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
No credit on open account
Liquidity is insufficient, with a current ratio of 0.71 (0.6 in 2024), below 1. Short-term debt is 16.7% and cash 0.9% of total assets. Equity is negative.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 11297 sector peers (2025).
NBB · sector comparisonPosition among 11297 sector peers
Solvency
better than 15%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 19-06-2026, 42 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
42 days early
2024
29 days late
2023
54 days late
2022
21 days late
2021
62 days late
2020
30 days late
2019
68 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 32 days after the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 29 August (4 of the last 5 accounts filed within 33 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0638996606
Change of role: CRISTEL Lüdwig, from manager to director
Gazette deed
Registered office moved from Bouge to Courcelles
New registered office: ZI Courcelles, rue de Hainaut 86, 6180 Courcelles · Previous registered office: rue Sainte Rita 75, 5004 Bouge, Belgique · Gazette deed
First establishment
Rue de Hainaut 86, Courcelles
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| AARKAM Courcelles | €444,725 | €86,101 | -1.6% | - |
| MARCHAND' BROS Chièvres | €353,341 | €89,906 | -20.1% | - |
| ELZO Mouscron | €448,689 | €83,076 | 1.8% | - |
| BALOCA Kuurne | €423,980 | €71,413 | 56.9% | - |
| IMMO PETER Vielsalm | €499,138 | €103,403 | 18.0% | - |
| IMMO R Bilzen-Hoeselt | €459,655 | €70,071 | -5.2% | 0 |
| Vicus Vastgoed Ghent | €445,688 | €59,538 | 9.2% | 1.3 |
These companies have the same main activity as AARKAM: buying and selling of own real estate (NACE 68110). They are comparable in size and age: total assets between €353,000 and €499,000, founded between 2013 and 2016.
Official details
Source: KBO- Status
- Active since 30-09-2015Normal situation
- Activity
- Buying and selling of own real estateNACE 68110and 2 others
- Establishment unit
- 2.257.366.7766180 Courcelles, since 07-03-2016
- Financial year end
- 31 December
- Peppol
- Reachable since 08-01-2026
Annual accounts 2025
- ≈ €230,000estimated
- €444,725▼ 10.0%
- Filing
- Filed on 19-06-2026, 42 days before the end of the filing period
Insights on AARKAM
AARKAM files the abbreviated format. That format states no turnover. The gross margin rose from €42,314 in 2016 to €86,101 in 2025.
The balance sheet grew most in 2019 through fixed assets, financed with long-term debt.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about AARKAM
- What is the company number of AARKAM?
- The company number of AARKAM is 0638.996.606. The VAT number is the same number with BE in front: BE 0638.996.606.
- Where is AARKAM based?
- The registered office is at Rue de Hainaut 86, 6180 Courcelles.Company details
- What does AARKAM do?
- According to the KBO register, the main activity is buying and selling of own real estate (NACE 68110).
- What is the legal form of AARKAM?
- AARKAM is a private limited company (BV).
- When was AARKAM founded?
- AARKAM was founded on 30-09-2015.
- Is AARKAM still active?
- Yes, AARKAM is an active enterprise in the KBO register.
- What is the turnover of AARKAM?
- The turnover in financial year 2025 is ≈ €230,000. This figure is estimated from the gross margin of €86,101 and 48 comparable companies (NACE 681). It probably lies between €120,000 and €530,000.Financials
- Is AARKAM profitable?
- In financial year 2025, AARKAM made a profit of €7,988.
- Where can I find the annual accounts of AARKAM?
- AARKAM filed 10 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of AARKAM due?
- AARKAM must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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