AR AIRCO

Active

Private limited companyfounded 20224 yrs activeBrugseweg 174, 8920 Langemark-Poelkapelle, BelgiumKBO/BCE: BE 0783.903.322

The computed 12-month bankruptcy probability of AR AIRCO is 2.5% (moderate). The 2024 annual accounts show equity of €204k and a net result of €100k. Equity is growing by ~75.3% per year across the filed fiscal years. Its solvency ranks better than 51% of 36378 sector peers (fiscal year 2024). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.

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Checked score

Score 2024

69 / 100

Healthy

The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability98▼-1

Solvency72▲+3

Growth78=

Track record94

Bankruptcy probability, 12 months

2.5% Moderate

0%0.5%1.5%4%10%≥ 25%

Credit up to €14k at 30 days acceptable

Liquidity ample (current ratio 2.42 against 1.68 in 2023; short-term debt: 30.3% and cash: 11.5% of total assets), but 52.5% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Four signals. The signal on the left, the evidence on the right.

+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 43

Relative position

BE, all sectors

reference

Sector 43

higher

← fewer bankruptcies more bankruptcies →

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 26-08-2025, 26 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.

NBB · 3 filings

Deviation from the deadline

2025

not confirmed

2024

26 d late

2023

36 d early

2022

37 d late

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, micro schema

Equity

€204k▲ 96.1%

2023 · €104k

2022: €47k 2023: €104k

2022 → 2024

Total assets

€430k▲ 81.5%

2023 · €237k

2022: €260k 2023: €237k

2022 → 2024

Net result

€100k▲ 76.5%

2023 · €57k

2022: €47k 2023: €57k

2022 → 2024

Working capital

€185k▲ 137%

2023 · €78k

2022: €49k 2023: €78k

2022 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line202220232024Trend

Equity€47k-€104k▲ 120%€204k▲ 96.1%

Operating result€60k-€76k▲ 28.0%€131k▲ 71.6%

Net result€47k-€57k▲ 20.0%€100k▲ 76.5%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result has risen two years in a row; 2024 is 72% above 2023 and is the highest result in the available series.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €430k

26.8%

73.2%

Fixed assets €115k▲ 155%

Current assets €315k▲ 64.1%

Equity and liabilities €430k

47.5%

52.5%

Equity €204k▲ 96.1%

Debt €226k▲ 70.0%

The debt ratio falls from 56.1% to 52.5%. Equity and debt are higher.

Key figures and ratios

2024 value · change against 2023

EBITDA

€158k▲

2023 · €90k

Cash flow

€127k▲

2023 · €71k

Solvency

47.5%▲

2023 · 43.9%

Current ratio

2.42▲

2023 · 1.68

Quick ratio

1.89▲

2023 · 1.38

Debt / equity

1.11▼

2023 · 1.28

ROE

49.0%▼

2023 · 54.4%

ROA

23.3%▼

2023 · 23.9%

Interest coverage

46.19▼

2023 · 76.60

Debt

€226k▲

2023 · €133k

Debt ≤ 1 year

€130k▲

2023 · €114k

Debt > 1 year

€56k▲

2023 · €7k

Income taxes

€33k▲

2023 · €21k

Staff costs

€54k▲

2023 · €9k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€237k€430k▲

Fixed assets21/28€45k€115k▲

Tangible fixed assets22/27€45k€115k▲

Plant, machinery and equipment23€13k€18k▲

Furniture and vehicles24€32k€97k▲

Current assets29/58€192k€315k▲

Stocks and contracts in progress3€35k€69k▲

Stocks30/36€35k€69k▲

Contracts in progress37€0-

Amounts receivable within one year40/41€122k€193k▲

Trade receivables40€95k€174k▲

Other amounts receivable41€27k€19k▼

Cash at bank and in hand54/58€32k€49k▲

Deferred charges and accrued income490/1€3k€3k▲

Equity and liabilities

Total equity and liabilities10/49€237k€430k▲

Equity10/15€104k€204k▲

Contributions10/11€1k€1k=

Reserves13€103k€203k▲

Distributable reserves133€103k€203k▲

Profit (loss) carried forward14€0-

Amounts payable17/49€133k€226k▲

Amounts payable after more than one year17€7k€56k▲

Financial debts170/4€7k€56k▲

Amounts payable within one year42/48€114k€130k▲

Current portion of amounts payable after more than one year42€12k€34k▲

Trade debts44€21k€53k▲

Suppliers440/4€21k€53k▲

Taxes, remuneration and social security45€10k€9k▼

Taxes450/3€4k€6k▲

Remuneration and social security454/9€6k€3k▼

Other amounts payable47/48€71k€35k▼

Accrued charges and deferred income492/3€12k€40k▲

Income statement Code20232024

Remuneration, social security and pensions62€9k€54k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€14k€27k▲

Other operating charges640/8€253€3k▲

Non-recurring operating charges66A€1k€0▼

Gross operating margin9900€100k€214k▲

Operating profit (loss)9901€76k€131k▲

Financial income75/76B€3k€6k▲

Recurring financial income75€3k€6k▲

Financial charges65/66B€1k€3k▲

Recurring financial charges65€1k€3k▲

Profit (loss) for the period before taxes9903€78k€133k▲

Income taxes67/77€21k€33k▲

Profit (loss) for the period9904€57k€100k▲

Profit (loss) for the period to be appropriated9905€57k€100k▲

Appropriation of the result

Profit (loss) to be appropriated9906€57k€100k▲

Transfer to equity691/2€57k€100k▲

To other reserves6921€57k€100k▲

Profit to be distributed694/7€0-

Return on contributions (dividend)694€0-

The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 6Financial 3Filings 3

2025

26-08

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 26 days late

2024

31-12

Financial Highest result since 2022net €100k ▲76.5%

Operating result €131k, net result €100k, both a record.

31-12

Financial Equity above €200kEq €204k ▲96.1%

3 profitable years in a row build equity to €204k.

25-06

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

31-12

Financial Equity above €100kEq €104k ▲120%

2 profitable years in a row build equity to €104k.

06-09

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 37 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

2 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, Langemark-Poelkapelle · 1 establishment unit since 2022

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Brugseweg 1748920 Langemark-Poelkapelle

Ground area

347 m²

Building footprint

102 m²

Parcel 33020E0549/00E002, Flanders. Linked by address, not a title deed.

1 establishment unit

AR Airco

Brugseweg 174, 8920 Langemark-PoelkapelleManufacture of electrical equipment

since 20222.329.476.576

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
33020E0549/00E002	Flanders	347 m²	1 · 102 m²	-

Linked by address, not proof of ownership

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Public money · subsidies and aid

Flemish government

2022 to 2025 · 4 entries · 3,795 EUR awarded · 3,757 EUR paid

Year	Entries	awarded	paid
2025	1	898 EUR	898 EUR
2024	1	2,565 EUR	2,565 EUR
2023	1	0 EUR	294 EUR
2022	1	332 EUR	0 EUR

Schemes

Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)

4 entries · 3,795 EUR · 3,757 EUR paid · Fonds voor Innoveren en Ondernemen

Similar companies · same sector, comparable size

BOESMANS IVAN CV

BE 0832.459.344

Heist-op-den-Berg · Eq €204k

Installatiebedrijf Sels

REFRIGERATION BAILLEUX

Of 9,531 companies in sector 43222 we hold annual accounts for 5,661. 4,801 are within a factor 10 of this equity.See the whole sector

Company data · Crossroads Bank

Identification

Legal formPrivate limited company

Founded28-03-2022

Fiscal year end31-12

Activities, NACEBEL

43222Installation of electric heating, air conditioning, cooling and ventilation

43211General electrical installation work

43221Plumbing work

Sources

Crossroads Bank for EnterprisesNational Bank · 3 filingsAddress and cadastre registers

Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.