AR-BOR
ActiveSummary
The computed 12-month bankruptcy probability of AR-BOR is 2.1% (moderate). The 2025 annual accounts show negative equity (-€76,487) and a net result of -€6,040. Equity is shrinking by ~45.6% per year across the filed fiscal years. The company has been active since 2006 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
2.1%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.07 against 0.1 in 2024; cash: 0.1% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Return on assets
-98.2%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year -€76,487
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 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
27 d late
2023
28 d late
2022
31 d late
2021
78 d late
2020
89 d late
2019
91 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 49 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€76,487▼ 8.6%
2024 · -€70,447
Total assets
€6,153▼ 19.4%
2024 · €7,634
Net result
-€6,040▲ 83.3%
2024 · -€36,125
Working capital
-€76,487▼ 8.5%
2024 · -€70,489
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€47,447▼ 30.0%-€32,831▲ 30.8%-€19,583▲ 40.4%-€32,215▼ 64.5%-€1,454▲ 95.5%
Net result-€44,386▼ 18.0%-€35,292▲ 20.5%-€23,247▲ 34.1%-€36,125▼ 55.4%-€6,040▲ 83.3%
Equity€24,217▼ 64.7%-€11,075-€34,322▼ 210%-€70,447▼ 105%-€76,487▼ 8.6%
Total assets€119,402▼ 23.9%€15,838▼ 86.7%€10,061▼ 36.5%€7,634▼ 24.1%€6,153▼ 19.4%
Debt€95,185▲ 7.8%€26,912▼ 71.7%€44,383▲ 64.9%€78,081▲ 75.9%€82,640▲ 5.8%
Working capital€18,247▼ 71.3%-€11,873-€34,605▼ 191%-€70,489▼ 104%-€76,487▼ 8.5%
Staff (FTE)
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1,454 in 2025 against €32,215 in 2024; the loss shrinks.
Key figures and ratios
EBITDA
-€1,412▲
2024 · -€31,974
Cash flow
-€5,998▲
2024 · -€35,884
Current ratio
0.07▼
2024 · 0.10
Debt to equity
-1.08▲
2024 · -1.11
ROA
-98.2%▲
2024 · -473.2%
Interest coverage
-0.34▲
2024 · -8.76
Debt ≤ 1 year
€82,640▲
2024 · €78,081
Income taxes
€406▲
2024 · €259
A ratio outside any meaningful range has been withheld (balance sheet total €6,153, equity -€76,487).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,640 companies that looked in July 2024 the way this one looks now, 4.1% went bankrupt within 24 months and 84% are still going.
- Micro
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
4.1%
went bankrupt
9.9%
stopped otherwise
84%
still going
A further 2.0% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.1% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,640 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €24,606 | €1,434 | €0 | - | - | - |
| Remuneration, social security and pensions62 | €140 | €0 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,535 | €515 | €515 | €241 | €42 | ▼ 82.5% |
| Other operating charges640/8 | €4,925 | €1,307 | €1,814 | €1,404 | €1,402 | ▼ 0.2% |
| Gross operating margin9900 | -€39,847 | -€31,009 | -€17,255 | -€30,570 | -€10 | ▲ 100.0% |
| Operating profit (loss)9901 | -€47,447 | -€32,831 | -€19,583 | -€32,215 | -€1,454 | ▲ 95.5% |
| Financial income75/76B | €4,513 | €469 | €0 | - | - | - |
| Recurring financial income75 | €4,513 | €469 | €0 | - | - | - |
| Financial charges65/66B | €1,452 | €2,735 | €3,442 | €3,651 | €4,180 | ▲ 14.5% |
| Recurring financial charges65 | €1,452 | €2,735 | €3,442 | €3,651 | €4,180 | ▲ 14.5% |
| Profit (loss) for the period before taxes9903 | -€44,386 | -€35,098 | -€23,025 | -€35,866 | -€5,634 | ▲ 84.3% |
| Income taxes67/77 | €0 | €194 | €222 | €259 | €406 | ▲ 56.9% |
| Profit (loss) for the period9904 | -€44,386 | -€35,292 | -€23,247 | -€36,125 | -€6,040 | ▲ 83.3% |
| Profit (loss) for the period to be appropriated9905 | -€44,386 | -€35,292 | -€23,247 | -€36,125 | -€6,040 | ▲ 83.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €119,402 | €15,838 | €10,061 | €7,634 | €6,153 | ▼ 19.4% |
| Fixed assets21/28 | €5,970 | €798 | €283 | €42 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €5,970 | €798 | €283 | €42 | €0 | ▼ 100% |
| Land and buildings22 | €3,686 | €0 | - | - | - | - |
| Furniture and vehicles24 | €2,284 | €798 | €283 | €42 | €0 | ▼ 100% |
| Current assets29/58 | €113,432 | €15,040 | €9,777 | €7,592 | €6,153 | ▼ 18.9% |
| Amounts receivable within one year40/41 | €100,847 | €4,806 | €2,606 | €2,550 | €3,250 | ▲ 27.5% |
| Trade receivables40 | €8,005 | €0 | €300 | €2,550 | €3,250 | ▲ 27.5% |
| Other amounts receivable41 | €92,842 | €4,806 | €2,306 | €0 | - | - |
| Cash at bank and in hand54/58 | €272 | €2,147 | €4 | €13 | €5 | ▼ 62.6% |
| Deferred charges and accrued income490/1 | €12,313 | €8,086 | €7,167 | €5,028 | €2,898 | ▼ 42.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €119,402 | €15,838 | €10,061 | €7,634 | €6,153 | ▼ 19.4% |
| Equity10/15 | €24,217 | -€11,075 | -€34,322 | -€70,447 | -€76,487 | ▼ 8.6% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €47,711 | €47,711 | €47,711 | €47,711 | €47,711 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | €45,851 | €45,851 | €47,711 | €47,711 | €47,711 | = |
| Profit (loss) carried forward14 | -€29,694 | -€64,986 | -€88,233 | -€124,358 | -€130,398 | ▼ 4.9% |
| Amounts payable17/49 | €95,185 | €26,912 | €44,383 | €78,081 | €82,640 | ▲ 5.8% |
| Amounts payable within one year42/48 | €95,185 | €26,912 | €44,383 | €78,081 | €82,640 | ▲ 5.8% |
| Current portion of amounts payable after more than one year42 | €798 | €845 | €855 | €0 | - | - |
| Financial debts43 | €13,696 | €20,110 | €17,545 | €19,130 | €20,437 | ▲ 6.8% |
| Credit institutions430/8 | €13,696 | €20,110 | €17,545 | €19,130 | €20,437 | ▲ 6.8% |
| Trade debts44 | €691 | €5,191 | €3,011 | €3,193 | €2,428 | ▼ 24.0% |
| Suppliers440/4 | €691 | €5,191 | €3,011 | €3,193 | €2,428 | ▼ 24.0% |
| Taxes, remuneration and social security45 | - | - | €1,209 | €281 | €120 | ▼ 57.2% |
| Taxes450/3 | - | - | €222 | €281 | €120 | ▼ 57.2% |
| Remuneration and social security454/9 | - | - | €987 | €0 | - | - |
| Other amounts payable47/48 | €80,000 | €766 | €21,761 | €55,476 | €59,655 | ▲ 7.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€44,386 | -€35,292 | -€23,247 | -€36,125 | -€6,040 | ▲ 83.3% |
| + Depreciation and write-downs630 | €2,535 | €515 | €515 | €241 | €42 | ▼ 82.5% |
| Operating cash flow (approximation) | -€41,852 | -€34,777 | -€22,733 | -€35,884 | -€5,998 | ▲ 83.3% |
| Investment in fixed assets (approximation) | - | €4,657 | €0 | €0 | €0 | - |
| Change in cash | - | €1,875 | -€2,143 | €9 | -€8 | ▼ 189% |
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
2026
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
17-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 78 days late
2021
31-12
Financial
Weakest financial yearnet -€44,386
Net result drops to -€44,386, the lowest in the series; recovery starts the following year.
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 89 days late
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 91 days late
2019
23-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 84 days late
23-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 449 days late
2017
26-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 57 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
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, Antwerpen · 1 establishment unit since 2006
Ground area
270 m²
Building footprint
91 m²
Volume, LiDAR
705 m³
Parcel 11051B0373/00G002, Flanders · tallest building 9.8 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
AR-BOR
since 20062.151.709.725
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11051B0373/00G002 | Flanders | 270 m² | 1 · 91 m² | 9.8 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.
Public money · subsidies and aid
Flemish government
2024 to 2025 · 2 entries · 12,489 EUR awarded · 12,489 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 10,021 EUR | 10,021 EUR |
| 2024 | 1 | 2,468 EUR | 2,468 EUR |
Schemes
Recognitions · licences · registrations
Legal Entity Identifier
967600VL0DQHNF2JQW29
Identification & contact
Identification
Legal formPrivate limited company
Founded30-01-2006
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0879058045
Registered
22-03-2024
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.