Summary
AARTCO is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €9.0m and a net result of -€151,638. Equity is growing by ~16.1% per year across the filed fiscal years. Its solvency ranks better than 55% of 5585 sector peers (fiscal year 2025). The company has been active since 1981 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 26-11-2025, 66 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
66 d early
2024
73 d early
2023
72 d early
2022
4 d early
2021
4 d early
2020
75 d early
2019
46 d early
← 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 49 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 26 November (5 of the last 5 filed years within 62 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close29-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#2 oldest company in Izegem, Finance and insurance sector
Equity
€9.0m▼ 1.7%
2024 · €9.1m
Net result
-€151,638
2024 · €843,111
Total assets
€15.7m▼ 9.8%
2024 · €17.4m
Solvency
57.1%▲ 4.7pp
2024 · 52.3%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, 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
Line20212022202320242025
Operating result€1.3m▲ 515%€763,098▼ 41.8%€2.1m▲ 180%€586,804▼ 72.5%-€595,745
Net result€1.5mabove the sector's middle half▲ 981%€693,577above the sector's middle half▼ 52.5%€1.8mabove the sector's middle half▲ 161%€843,111above the sector's middle half▼ 53.5%-€151,638below the sector's middle half
Equity€5.8mabove the sector's middle half▲ 33.4%€6.5mabove the sector's middle half▲ 11.9%€8.3mabove the sector's middle half▲ 27.8%€9.1mabove the sector's middle half▲ 9.5%€9.0mabove the sector's middle half▼ 1.7%
Total assets€13.5mabove the sector's middle half▲ 66.0%€14.9mabove the sector's middle half▲ 10.4%€15.3mabove the sector's middle half▲ 2.8%€17.4mabove the sector's middle half▲ 13.6%€15.7mabove the sector's middle half▼ 9.8%
Debt€7.6m▲ 106%€8.3m▲ 8.3%€6.8m▼ 17.4%€8.1m▲ 19.1%€6.6m▼ 19.0%
Working capital-€3.0mbelow the sector's middle half▲ 2.4%-€2.7mbelow the sector's middle half▲ 10.0%-€1.0mbelow the sector's middle half▲ 61.9%-€1.7mbelow the sector's middle half▼ 60.5%-€1.3mbelow the sector's middle half▲ 23.6%
Solvency43.1%within the sector's middle half▼ 10.5pp43.7%within the sector's middle half▲ 0.6pp54.3%within the sector's middle half▲ 10.6pp52.3%within the sector's middle half▼ 2.0pp57.1%within the sector's middle half▲ 4.7pp
Current ratio0.43within the sector's middle half▲ 0.280.45within the sector's middle half▲ 0.020.68within the sector's middle half▲ 0.230.58within the sector's middle half▼ 0.090.56within the sector's middle half▼ 0.03
Return on assets (ROA)10.8%within the sector's middle half▲ 9.1pp4.6%within the sector's middle half▼ 6.1pp11.8%above the sector's middle half▲ 7.2pp4.8%within the sector's middle half▼ 7.0pp-1.0%below the sector's middle half▼ 5.8pp
Staff (FTE)1within the sector's middle half=1within the sector's middle half=1within the sector's middle half=1.1within the sector's middle half▲ 10.0%1.5above the sector's middle half▲ 36.4%
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €595,745 after €586,804 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €15.7m
Fixed assets
€14.1m ▼ 6.4%
Current assets
€1.6m ▼ 32.0%
Equity and liabilities €15.7m
Equity
€9.0m ▼ 1.7%
Provisions
€158,828 ▼ 6.0%
Debt
€6.6m ▼ 19.0%
Debt's share of the balance-sheet total falls from 46.7% to 41.9%. Equity and debt are lower.
Key figures and ratios
ROE
-1.7%▼
2024 · 9.2%
Debt ≤ 1 year
€2.8m▼
2024 · €4.0m
Debt > 1 year
€3.6m▼
2024 · €4.0m
Income taxes
€332▼
2024 · €172,844
Staff costs
€116,439▲
2024 · €102,328
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €334,143 | €479,864 | €0 | - | - |
| Remuneration, social security and pensions62 | - | €78,875 | €88,522 | €102,328 | €116,439 | ▲ 13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €533,985 | €500,121 | €604,133 | €736,572 | €529,759 | ▼ 28.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €69,152 | €0 | - | -€69,152 | - |
| Other operating charges640/8 | - | €81,304 | €85,433 | €80,734 | €85,603 | ▲ 6.0% |
| Non-recurring operating charges66A | - | - | €39,909 | €0 | €1.3m | - |
| Gross operating margin9900 | €2.0m | €1.5m | €3.0m | €1.5m | €1.4m | ▼ 8.0% |
| Operating profit (loss)9901 | €1.3m | €763,098 | €2.1m | €586,804 | -€595,745 | ▼ 202% |
| Financial income75/76B | - | €259,959 | €369,880 | €646,920 | €662,477 | ▲ 2.4% |
| Recurring financial income75 | €598,100 | €259,959 | €214,136 | €584,253 | €662,477 | ▲ 13.4% |
| Non-recurring financial income76B | - | - | €155,744 | €62,667 | €0 | ▼ 100% |
| Financial charges65/66B | - | €114,005 | €138,754 | €227,940 | €228,209 | ▲ 0.1% |
| Recurring financial charges65 | €77,704 | €114,005 | €138,754 | €227,940 | €228,209 | ▲ 0.1% |
| Profit (loss) for the period before taxes9903 | €1.8m | €909,052 | €2.4m | €1.0m | -€161,477 | ▼ 116% |
| Transfer from deferred taxes780 | - | €10,989 | €83,675 | €10,171 | €10,171 | = |
| Transfer to deferred taxes680 | - | €83,446 | €119,966 | €0 | - | - |
| Income taxes67/77 | €378,837 | €143,018 | €518,850 | €172,844 | €332 | ▼ 99.8% |
| Profit (loss) for the period9904 | €1.5m | €693,577 | €1.8m | €843,111 | -€151,638 | ▼ 118% |
| Transfer from tax-exempt reserves789 | - | €32,967 | €251,026 | €30,512 | €30,512 | = |
| Transfer to tax-exempt reserves689 | - | €250,337 | €359,898 | €0 | - | - |
| Profit (loss) for the period to be appropriated9905 | €1.7m | €476,208 | €1.7m | €873,623 | -€121,126 | ▼ 114% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €13.5m | €14.9m | €15.3m | €17.4m | €15.7m | ▼ 9.8% |
| Fixed assets21/28 | €11.3m | €12.7m | €13.2m | €15.1m | €14.1m | ▼ 6.4% |
| Intangible fixed assets21 | €1.2m | €998,676 | €798,941 | €599,206 | €399,470 | ▼ 33.3% |
| Tangible fixed assets22/27 | €7.1m | €8.7m | €10.1m | €11.9m | €11.2m | ▼ 6.4% |
| Land and buildings22 | - | €8.6m | €10.0m | €11.7m | €11.0m | ▼ 6.0% |
| Plant, machinery and equipment23 | - | €92,863 | €69,373 | €88,578 | €69,535 | ▼ 21.5% |
| Furniture and vehicles24 | - | €35,491 | €93,748 | €119,981 | €81,217 | ▼ 32.3% |
| Financial fixed assets28 | €3.0m | €3.0m | €2.3m | €2.6m | €2.6m | = |
| Current assets29/58 | €2.3m | €2.2m | €2.2m | €2.3m | €1.6m | ▼ 32.0% |
| Amounts receivable within one year40/41 | €779,724 | €1.9m | €1.3m | €1.0m | €722,662 | ▼ 29.0% |
| Trade receivables40 | - | €531,164 | €217,655 | €27,145 | €86,698 | ▲ 219% |
| Other amounts receivable41 | - | €1.4m | €1.1m | €990,805 | €635,964 | ▼ 35.8% |
| Cash at bank and in hand54/58 | €1.4m | €250,426 | €770,730 | €1.2m | €811,000 | ▼ 34.6% |
| Deferred charges and accrued income490/1 | - | €80,929 | €49,253 | €64,912 | €45,667 | ▼ 29.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €13.5m | €14.9m | €15.3m | €17.4m | €15.7m | ▼ 9.8% |
| Equity10/15 | €5.8m | €6.5m | €8.3m | €9.1m | €9.0m | ▼ 1.7% |
| Contributions10/11 | - | €62,000 | €62,000 | €61,950 | €61,950 | = |
| Reserves13 | €5.8m | €6.5m | €8.3m | €9.1m | €8.9m | ▼ 1.7% |
| Non-distributable reserves130/1 | - | €6,200 | €6,200 | €0 | - | - |
| Reserves not available under the articles1311 | - | €6,200 | €6,200 | €0 | - | - |
| Tax-exempt reserves132 | - | €469,291 | €578,163 | €547,651 | €517,139 | ▼ 5.6% |
| Distributable reserves133 | - | €6.0m | €7.7m | €8.5m | €8.4m | ▼ 1.4% |
| Provisions and deferred taxes16 | €70,422 | €142,879 | €179,169 | €168,999 | €158,828 | ▼ 6.0% |
| Deferred taxes168 | - | €142,879 | €179,169 | €168,999 | €158,828 | ▼ 6.0% |
| Amounts payable17/49 | €7.6m | €8.3m | €6.8m | €8.1m | €6.6m | ▼ 19.0% |
| Amounts payable after more than one year17 | €2.3m | €3.2m | €3.5m | €4.0m | €3.6m | ▼ 10.2% |
| Financial debts170/4 | - | €3.2m | €3.5m | €4.0m | €3.6m | ▼ 10.2% |
| Other amounts payable178/9 | - | - | - | €44 | €44 | = |
| Amounts payable within one year42/48 | €5.3m | €4.9m | €3.2m | €4.0m | €2.8m | ▼ 28.5% |
| Current portion of amounts payable after more than one year42 | - | €250,118 | €341,203 | €402,373 | €403,512 | ▲ 0.3% |
| Trade debts44 | €33,045 | €52,616 | €43,099 | €53,121 | €52,859 | ▼ 0.5% |
| Suppliers440/4 | - | €52,616 | €43,099 | €53,121 | €52,859 | ▼ 0.5% |
| Taxes, remuneration and social security45 | - | €54,776 | €40,667 | €120,543 | €55,283 | ▼ 54.1% |
| Taxes450/3 | - | €40,255 | €26,276 | €98,012 | €39,763 | ▼ 59.4% |
| Remuneration and social security454/9 | - | €14,521 | €14,390 | €22,530 | €15,520 | ▼ 31.1% |
| Other amounts payable47/48 | - | €4.6m | €2.8m | €3.4m | €2.3m | ▼ 31.4% |
| Accrued charges and deferred income492/3 | - | €107,369 | €149,109 | €191,218 | €179,945 | ▼ 5.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.5m | €693,577 | €1.8m | €843,111 | -€151,638 | ▼ 118% |
| + Depreciation and write-downs630 | €533,985 | €500,121 | €604,133 | €736,572 | €529,759 | ▼ 28.1% |
| Operating cash flow (approximation) | €2.0m | €1.2m | €2.4m | €1.6m | €378,121 | ▼ 76.1% |
| Investment in fixed assets (approximation) | - | -€2.0m | -€1.1m | -€2.6m | €436,911 | ▲ 117% |
| Change in cash | - | -€1.2m | €520,304 | €468,957 | -€428,688 | ▼ 191% |
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
Next filing, fiscal year 2026, expected by
2025
26-11
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
30-06
Financial
Weakest financial yearnet -€151,638
Net result drops to -€151,638, the lowest in the series.
2024
19-11
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2023
20-11
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
30-06
Financial
Highest result since 2019net €1.8m ▲161%
Operating result €2.1m, net result €1.8m, both a record.
27-01
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
27-01
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-06
Financial
Equity above €5mEq €5.8m ▲33.4%
3 profitable years in a row build equity to €5.8m.
2020
17-11
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2019
16-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
14-01
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
27-11
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
05-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 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
6 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, Izegem · 1 establishment unit since 1981
Ground area
1,231 m²
Building footprint
381 m²
Volume, LiDAR
3,165 m³
Parcel 36008A0232/00N004, Flanders · tallest building 13.7 m, ±3 floors. Linked by address, not a title deed.
25
companies at this address
See who is registered here
1 establishment unit
Gentsestraat 61, 8870 Izegem
since 19812.019.517.531
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36008A0232/00N004 | Flanders | 1,231 m² | 1 · 381 m² | 13.7 m · 3 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.
Structure & network
Owners and holdings
5 holdingsOwners 0
The accounts to 30-06-2025 list no shareholders, and no other source names one.
Holdings 5
-
50%
-
50%
-
50%
-
49.67%
-
33.33%
According to the annual accounts to 30-06-2025 of AARTCO and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 24,728 companies in sector 64210 we hold annual accounts for 19,800. 6,352 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded27-10-1981
Fiscal year end30-06
Activities, NACEBEL 2025
64210Activities of holding companies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0422039476
Registered
18-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.