AR Transport
ActiveSummary
AR Transport has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €93k and a net result of €32k. Equity is growing by ~9.6% per year across the filed fiscal years. Its solvency ranks better than 60% of 38 sector peers (fiscal year 2026). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2026
Axes · tick = 2025
Profitability87▲+15
Solvency67▼-26
Growth78=
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity tight (current ratio 1.27 against 2.51 in 2025; short-term debt: 21.8% and cash: 10.5% of total assets), and 57.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 49
Relative position
BE, all sectors
reference
Land transport and transport via pipelines (NACE 49)
about 141% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2026Solvency, return and age of the figures
Solvency
42.4%
Return on assets
14.5%
Age of the figures
6 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2026 was due by 31-10-2026 and was filed on 31-08-2026, 61 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
61 d early
2025
63 d early
2024
17 d early
2023
38 d early
2022
39 d early
2021
69 d early
2020
18 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2027 and is due by 31-10-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-03-2027 close31-10-2027 deadline
Financials · fiscal year 2026, micro schema
Equity
€93k▲ 51.9%
2025 · €61k
2019: €36klowest in 8 years
2020: €42k▲ +18.0% vs 2019
2021: €61k▲ +44.6% vs 2020
2022: €47k▼ -23.2% vs 2021
2023: €47k▲ +0.8% vs 2022
2024: €59k▲ +26.1% vs 2023
2025: €61k▲ +3.8% vs 2024
2026: €93k▲ +51.9% vs 2025highest in 8 years
2019 → 2026
Total assets
€220k▲ 142%
2025 · €91k
2019: €110k
2020: €120k▲ +9.1% vs 2019
2021: €249k▲ +106% vs 2020highest in 8 years
2022: €219k▼ -11.9% vs 2021
2023: €165k▼ -24.6% vs 2022
2024: €148k▼ -10.1% vs 2023
2025: €91k▼ -38.9% vs 2024lowest in 8 years
2026: €220k▲ +142% vs 2025
2019 → 2026
Net result
€32k▲ 1,314%
2025 · €2k
2019: €-14k
2020: €6k▲ +146% vs 2019
2021: €19k▲ +206% vs 2020
2022: €-14k▼ -172% vs 2021lowest in 8 years
2023: €351▲ +102% vs 2022
2024: €12k▲ +3382% vs 2023
2025: €2k▼ -81.6% vs 2024
2026: €32k▲ +1314% vs 2025highest in 8 years
2019 → 2026
Working capital
€13k▼ 71.1%
2025 · €44k
2019: €34k
2020: €31k▼ -6.6% vs 2019
2021: €-15k▼ -148% vs 2020
2022: €-39k▼ -163% vs 2021lowest in 8 years
2023: €-32k▲ +17.6% vs 2022
2024: €-6k▲ +80.8% vs 2023
2025: €44k▲ +809% vs 2024highest in 8 years
2026: €13k▼ -71.1% vs 2025
2019 → 2026
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20222023202420252026Trend
Equity€47k-€47k▲ 0.8%€59k▲ 26.1%€61k▲ 3.8%€93k▲ 51.9%
2022: €47klowest in 5 years
2023: €47k▲ +0.8% vs 2022
2024: €59k▲ +26.1% vs 2023
2025: €61k▲ +3.8% vs 2024
2026: €93k▲ +51.9% vs 2025highest in 5 years
Operating result€-10k-€8k€24k▲ 213%€7k▼ 69.3%€46k▲ 538%
2022: €-10klowest in 5 years
2023: €8k▲ +176% vs 2022
2024: €24k▲ +213% vs 2023
2025: €7k▼ -69.3% vs 2024
2026: €46k▲ +538% vs 2025highest in 5 years
Net result€-14k-€351€12k▲ 3,382%€2k▼ 81.6%€32k▲ 1,314%
2022: €-14klowest in 5 years
2023: €351▲ +102% vs 2022
2024: €12k▲ +3382% vs 2023
2025: €2k▼ -81.6% vs 2024
2026: €32k▲ +1314% vs 2025highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2026; 2026 is 538% above 2025 and is the highest result in the available series.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €220k
Fixed assets
€159k ▲ 820%
Current assets
€61k ▼ 17.4%
Equity and liabilities €220k
Equity
€93k ▲ 51.9%
Debt
€126k ▲ 332%
Debt's share of the balance-sheet total rises from 32.3% to 57.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€76k▲
2025 · €58k
Cash flow
€62k▲
2025 · €53k
Current ratio
1.27▼
2025 · 2.51
Quick ratio
1.25▼
2025 · 2.44
Debt to equity
1.36▲
2025 · 0.48
ROE
34.2%▲
2025 · 3.7%
ROA
14.5%▲
2025 · 2.5%
Interest coverage
20.94▼
2025 · 60.72
Debt ≤ 1 year
€48k▲
2025 · €29k
Debt > 1 year
€78k
Income taxes
€11k▲
2025 · €4k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2026 against 2025 · 50 lines
Balance sheet
Code20252026
Assets
Total assets20/58€91k€220k▲
Fixed assets21/28€17k€159k▲
Tangible fixed assets22/27€17k€158k▲
Land and buildings22€2k€1k▼
Plant, machinery and equipment23€3k€4k▲
Furniture and vehicles24€10k€151k▲
Other tangible fixed assets26€2k€2k▼
Financial fixed assets28€760€760=
Current assets29/58€73k€61k▼
Stocks and contracts in progress3€2k€614▼
Stocks30/36€2k€614▼
Amounts receivable within one year40/41€41k€36k▼
Trade receivables40€40k€33k▼
Other amounts receivable41€982€3k▲
Cash at bank and in hand54/58€28k€23k▼
Deferred charges and accrued income490/1€3k€1k▼
Equity and liabilities
Total equity and liabilities10/49€91k€220k▲
Equity10/15€61k€93k▲
Contributions10/11€6k€6k=
Reserves13€54k€86k▲
Distributable reserves133€54k€86k▲
Profit (loss) carried forward14€797€843▲
Amounts payable17/49€29k€126k▲
Amounts payable after more than one year17-€78k
Financial debts170/4-€78k
Amounts payable within one year42/48€29k€48k▲
Current portion of amounts payable after more than one year42€8k€23k▲
Trade debts44€10k€6k▼
Suppliers440/4€10k€6k▼
Taxes, remuneration and social security45€12k€19k▲
Taxes450/3€8k€18k▲
Remuneration and social security454/9€4k€964▼
Accrued charges and deferred income492/3-€457
Income statement
Code20252026
Non-recurring operating income76A€5k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€51k€30k▼
Other operating charges640/8€3k€3k▲
Gross operating margin9900€61k€79k▲
Operating profit (loss)9901€7k€46k▲
Financial income75/76B€21€712▲
Recurring financial income75€21€712▲
Financial charges65/66B€957€4k▲
Recurring financial charges65€957€4k▲
Profit (loss) for the period before taxes9903€6k€43k▲
Income taxes67/77€4k€11k▲
Profit (loss) for the period9904€2k€32k▲
Profit (loss) for the period to be appropriated9905€2k€32k▲
Appropriation of the result
Profit (loss) to be appropriated9906€3k€33k▲
Profit (loss) brought forward from the previous period14P€545€797▲
Transfer to equity691/2€2k€32k▲
To other reserves6921€2k€32k▲
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €5k | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €57k | €56k | €55k | €51k | €30k | ▼ 41.2% |
| Other operating charges640/8 | €4k | €3k | €3k | €3k | €3k | ▲ 14.0% |
| Gross operating margin9900 | €51k | €66k | €81k | €61k | €79k | ▲ 30.3% |
| Operating profit (loss)9901 | €-10k | €8k | €24k | €7k | €46k | ▲ 538% |
| Financial income75/76B | €9 | €5 | €101 | €21 | €712 | ▲ 3,290% |
| Recurring financial income75 | €9 | €5 | €101 | €21 | €712 | ▲ 3,290% |
| Financial charges65/66B | €4k | €4k | €4k | €957 | €4k | ▲ 280% |
| Recurring financial charges65 | €3k | €4k | €4k | €957 | €4k | ▲ 280% |
| Non-recurring financial charges66B | €492 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €-14k | €4k | €19k | €6k | €43k | ▲ 586% |
| Income taxes67/77 | €241 | €3k | €7k | €4k | €11k | ▲ 183% |
| Profit (loss) for the period9904 | €-14k | €351 | €12k | €2k | €32k | ▲ 1,314% |
| Profit (loss) for the period to be appropriated9905 | €-14k | €351 | €12k | €2k | €32k | ▲ 1,314% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €219k | €165k | €148k | €91k | €220k | ▲ 142% |
| Fixed assets21/28 | €177k | €124k | €72k | €17k | €159k | ▲ 820% |
| Tangible fixed assets22/27 | €176k | €124k | €71k | €17k | €158k | ▲ 857% |
| Land and buildings22 | €3k | €2k | €2k | €2k | €1k | ▼ 17.6% |
| Plant, machinery and equipment23 | €19k | €14k | €8k | €3k | €4k | ▲ 63.3% |
| Furniture and vehicles24 | €154k | €105k | €58k | €10k | €151k | ▲ 1,375% |
| Other tangible fixed assets26 | €952 | €3k | €3k | €2k | €2k | ▼ 14.2% |
| Financial fixed assets28 | €760 | €760 | €760 | €760 | €760 | = |
| Current assets29/58 | €42k | €41k | €77k | €73k | €61k | ▼ 17.4% |
| Stocks and contracts in progress3 | €4k | €1k | €2k | €2k | €614 | ▼ 65.8% |
| Stocks30/36 | €4k | €1k | €2k | €2k | €614 | ▼ 65.8% |
| Amounts receivable within one year40/41 | €30k | €32k | €22k | €41k | €36k | ▼ 12.0% |
| Trade receivables40 | €25k | €26k | €20k | €40k | €33k | ▼ 17.7% |
| Other amounts receivable41 | €5k | €6k | €2k | €982 | €3k | ▲ 218% |
| Cash at bank and in hand54/58 | €2k | €5k | €38k | €28k | €23k | ▼ 17.3% |
| Deferred charges and accrued income490/1 | €6k | €2k | €14k | €3k | €1k | ▼ 64.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €219k | €165k | €148k | €91k | €220k | ▲ 142% |
| Equity10/15 | €47k | €47k | €59k | €61k | €93k | ▲ 51.9% |
| Contributions10/11 | €6k | €6k | €6k | €6k | €6k | = |
| Reserves13 | €40k | €40k | €52k | €54k | €86k | ▲ 58.5% |
| Non-distributable reserves130/1 | €2k | - | - | - | - | - |
| Reserves not available under the articles1311 | €2k | - | - | - | - | - |
| Distributable reserves133 | €39k | €40k | €52k | €54k | €86k | ▲ 58.5% |
| Profit (loss) carried forward14 | €-27 | €324 | €545 | €797 | €843 | ▲ 5.8% |
| Amounts payable17/49 | €172k | €118k | €89k | €29k | €126k | ▲ 332% |
| Amounts payable after more than one year17 | €86k | €45k | €6k | - | €78k | - |
| Financial debts170/4 | €86k | €45k | €6k | - | €78k | - |
| Amounts payable within one year42/48 | €81k | €73k | €83k | €29k | €48k | ▲ 63.4% |
| Current portion of amounts payable after more than one year42 | €40k | €41k | €39k | €8k | €23k | ▲ 190% |
| Financial debts43 | €15k | - | - | - | - | - |
| Credit institutions430/8 | €15k | - | - | - | - | - |
| Trade debts44 | €19k | €23k | €30k | €10k | €6k | ▼ 37.8% |
| Suppliers440/4 | €19k | €23k | €30k | €10k | €6k | ▼ 37.8% |
| Taxes, remuneration and social security45 | €6k | €9k | €14k | €12k | €19k | ▲ 61.3% |
| Taxes450/3 | €1k | €8k | €13k | €8k | €18k | ▲ 130% |
| Remuneration and social security454/9 | €5k | €1k | €2k | €4k | €964 | ▼ 75.1% |
| Other amounts payable47/48 | €514 | - | - | - | - | - |
| Accrued charges and deferred income492/3 | €5k | - | - | - | €457 | - |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-14k | €351 | €12k | €2k | €32k | ▲ 1,314% |
| + Depreciation and write-downs630 | €57k | €56k | €55k | €51k | €30k | ▼ 41.2% |
| Operating cash flow (approximation) | €43k | €56k | €67k | €53k | €62k | ▲ 16.2% |
| Investment in fixed assets (approximation) | - | €-3k | €-2k | €4k | €-172k | ▼ 4,960% |
| Change in cash | - | €3k | €33k | €-11k | €-5k | ▲ 55.0% |
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 2027, expected by
2026
31-08
NBB filing
Annual accounts filed
fiscal year 2026 · micro schema
31-03
Financial
Highest result since 2019net €32k ▲1,314%
Operating result €46k, net result €32k, both a record.
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-03
Financial
Liquidity triplescurrent ratio 2.51
Current ratio from 0.93 to 2.51; short-term debt falls from €83k to €29k.
2024
14-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
23-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
31-03
Financial
Back to profitnet €351
Net result €351 after one loss-making year.
2022
22-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
31-03
Financial
Weakest financial yearnet €-14k
Net result drops to €-14k, the lowest in the series; recovery starts the following year.
2021
23-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2020
13-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
31-03
Financial
Back to profitnet €6k
Net result €6k after one loss-making year.
Show earlier events
2019
24-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2018
10-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
24-10
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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Directors · office · real estate
Directors
3 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, Westerlo · 1 establishment unit since 2008
Ground area
3,957 m²
Building footprint
324 m²
Volume, LiDAR
2,062 m³
Parcel 13049E0058/00L000, Flanders · tallest building 11.2 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
AR Transport
since 20082.171.746.262
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13049E0058/00L000 | Flanders | 3,956 m² | 1 · 324 m² | 11.2 m · 2 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
2022 · 1 entry · 180 EUR awarded · 180 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2022 | 1 | 180 EUR | 180 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Food safety, FASFC
1 siteWesterlo2.171.746.262
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SYLCO
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BAYTRANS
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Of 12,590 companies in sector 49410 we hold annual accounts for 8,199. 6,326 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
Founded08-07-2008
Fiscal year end31-03
Activities, NACEBEL 2025
49410Freight transport by road
Contact
Phone
0497/570612Westerlo
Scores and ratios are computed by Checked and are not a credit decision.