Arbitrium
ActiveSummary
The computed 12-month bankruptcy probability of Arbitrium is at least 25% (high). For Arbitrium, at least two filing cycles of the annual accounts are missing. The 2023 annual accounts show equity of €1,337 and a net result of -€8,456. Equity remains stable across the filed financial years (±1.2% per year). The company has been active since 2012 and the Belgian Official Gazette contains no insolvency signals. The KBO does carry 1 administrative register entry (see administrative flags).
Overview
Activity
Activity not known1 site
Size
€2,258turnover 2023
- Staff
- ≈ 0.1 FTE, estimated
- Equity
- €1,337
- Loss
- -€8,456
Financial health
- Bankruptcy probabilitywithin 12 months
- ≥ 25%
2023 figures too old to score
Structure
- Van Groeningen Steven Charles CDirector
2024 accounts not filed, 457 days past the deadline3 of 7 deeds summarised
Signalsraises riskFigures for financial year 2023 (filed 02-01-2025)1 change of registered office in 24 months2 financial years not filed after the legal deadline; last filed accounts filed 152 days late; 2 of the last 3 lateEx-officio strike-off in the KBOTwo or more financial years not filed2023 accounts filed 152 days lateAdministrative warnings in the KBO publicationsShow the evidence
Bankruptcy probability
No current score
Figures too old
The available figures for FY 2023 are too old to assess current financial health.
Bankruptcy probability: High
Filing: At least two filing cycles are missing
Financial strength, FY 2023 · tick = 2022
Weak
Solvency
30-23
equity 4.7% of total assets
Liquidity
44-12
short-term debt 95.3% · cash 34.8%
Profitability
0-38
return on assets -29.9%
Bankruptcy probability, 12 months
≥ 25%
High
0%0.5%1.5%4%10%≥ 25%
About 1 in 3 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2024: 2.1%lowest value
12-2024: 3.0%▲ +0.9 percentage points vs 11-2024
01-2025: 4.3%▲ +1.3 percentage points vs 12-2024
02-2025: 2.3%▼ -2.0 percentage points vs 01-2025
03-2025: 2.5%▲ +0.2 percentage points vs 02-2025
04-2025: 2.6%▲ +0.1 percentage points vs 03-2025
05-2025: 2.6%● unchanged vs 04-2025
06-2025: 2.4%▼ -0.2 percentage points vs 05-2025
07-2025: 2.4%● unchanged vs 06-2025
08-2025: 2.9%▲ +0.5 percentage points vs 07-2025
09-2025: 5.6%▲ +2.7 percentage points vs 08-2025
10-2025: 8.0%▲ +2.4 percentage points vs 09-2025
11-2025: 8.3%▲ +0.3 percentage points vs 10-2025
12-2025: 12.8%▲ +4.5 percentage points vs 11-2025
01-2026: 17.0%▲ +4.2 percentage points vs 12-2025
02-2026: 17.0%● unchanged vs 01-2026
03-2026: 17.3%▲ +0.3 percentage points vs 02-2026
04-2026: 17.6%▲ +0.3 percentage points vs 03-2026
05-2026: 17.6%● unchanged vs 04-2026
06-2026: 17.6%● unchanged vs 05-2026
07-2026: 16.9%▼ -0.7 percentage points vs 06-2026
08-2026: ≥ 25%▲ +12.8 percentage points vs 07-2026highest value
09-2026: ≥ 25%● unchanged vs 08-2026highest value
10-2026: ≥ 25%● unchanged vs 09-2026highest value
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Signals
Seven signals.
raises risk
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2024, 2 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 10 filingsPosition against the passed deadline
31-12-2024 year end31-07-2025 deadline31-10-2026 today
raises risk · 2023 accounts filed 152 days late
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 30-12-2024, 152 days past the deadline. Measured on financial year 2023: of the companies more than 90 days late, 5.61% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
not filed
2023
152 days late
2022
31 days late
2021
26 days late
2020
17 days late
2019
91 days late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 5 accounts on average 63 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
raises risk · Administrative warnings in the KBO publications
1 publication by the FPS Economy about this company, such as a strike-off for address, accounts or UBO, or its withdrawal.
KBO publicationsPublications
Address struck
- Registered office · Other addressesDirector in office · Declaration…
- Address struckde Meeûssquare 35 · event…
- Resignation: Alhaydary Mohammed Jawad (director)Appointment: Van Groeningen Steven Charles…
Financials · financial year 2023, micro format
2024 annual accounts not yet filed, deadline passed on 31 July 2025 Financial year closed on 31 December 2024; filing due at the latest 7 months after the close (Companies Code art. 3:10). 2 financial years without a filing since the last one filed. Source: NBB filings, as of 31 October 2026.
Turnover
€2,258
EBIT margin
Not meaningful: turnover is only a small part of operating income
Net result
-€8,456
2022 · €134
Working capital
€1,137▼ 88.2%
2022 · €9,593
Trend over the years
2019 to 2023, 5 financial years 2018 to 2023, 6 financial years
The operating result stays negative: a loss of €8,424 in 2023 against €128 in 2022; the loss grows and 2023 has the lowest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€8,424
2023
Net result-€8,456
2023
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€28,297
2023
Equity€1,337
2023
Debt€26,960
2023
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€1,137
2023
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line201820192020202120222023
Turnover€2,258
Operating result€58-€279▲ 377%-€130-€317▼ 144%-€128▲ 59.6%-€8,424▼ 6,477%
Net result€12-€115▲ 898%€83▼ 28.0%€223▲ 168%€134▼ 40.0%-€8,456
Equity€9,239-€9,354▲ 1.2%€9,437▲ 0.9%€9,660▲ 2.4%€9,793▲ 1.4%€1,337▼ 86.4%
Total assets€9,879-€27,451▲ 178%€26,430▼ 3.7%€33,623▲ 27.2%€35,305▲ 5.0%€28,297▼ 19.9%
Debt€641-€18,097▲ 28×€16,993▼ 6.1%€23,963▲ 41.0%€25,512▲ 6.5%€26,960▲ 5.7%
Working capital€9,039-€20,342▲ 125%€9,237▼ 54.6%€9,460▲ 2.4%€9,593▲ 1.4%€1,137▼ 88.2%
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €28,297
Fixed assets
€200 =
Current assets
€28,097 ▼ 20.0%
Equity and liabilities €28,297
Equity
€1,337 ▼ 86.4%
Debt
€26,960 ▲ 5.7%
Debt's share of the balance-sheet total rises from 72.3% to 95.3%. Equity is lower and debt is higher.
Key figures and ratios
Current ratio
1.04▼
2022 · 1.38
Debt to equity
20.17▲
2022 · 2.61
ROE
-632.6%▼
2022 · 1.4%
ROA
-29.9%▼
2022 · 0.4%
Debt ≤ 1 year
€26,960▲
2022 · €25,512
Staff costs
€3,151▼
2022 · €4,080
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | - | - | €2,258 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | - | €6,267 | - |
| Remuneration, social security and pensions62 | - | - | - | - | €4,080 | €3,151 | ▼ 22.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,500 | - | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €348 | €165 | €1,264 | ▲ 666% |
| Gross operating margin9900 | €7,731 | €1,028 | €217 | €31 | €4,117 | -€4,009 | - |
| Operating profit (loss)9901 | €58 | €279 | -€130 | -€317 | -€128 | -€8,424 | ▼ 6,477% |
| Financial income75/76B | - | - | - | €695 | €375 | €3 | ▼ 99.3% |
| Recurring financial income75 | - | - | €294 | €695 | €375 | €3 | ▼ 99.3% |
| Non-recurring financial income76B | - | - | - | - | - | €3 | - |
| Financial charges65/66B | - | - | - | €74 | €64 | €35 | ▼ 46.0% |
| Recurring financial charges65 | €47 | €110 | €50 | €74 | €64 | €35 | ▼ 46.0% |
| Profit (loss) for the period before taxes9903 | €12 | €169 | €113 | €304 | €182 | -€8,456 | - |
| Income taxes67/77 | - | €53 | €30 | €81 | €49 | - | - |
| Profit (loss) for the period9904 | €12 | €115 | €83 | €223 | €134 | -€8,456 | - |
| Profit (loss) for the period to be appropriated9905 | €12 | €115 | €83 | €223 | €134 | -€8,456 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €9,879 | €27,451 | €26,430 | €33,623 | €35,305 | €28,297 | ▼ 19.9% |
| Fixed assets21/28 | €200 | €200 | €200 | €200 | €200 | €200 | = |
| Intangible fixed assets21 | €0 | - | - | - | - | - | - |
| Financial fixed assets28 | €200 | €200 | €200 | €200 | €200 | €200 | = |
| Current assets29/58 | €9,679 | €27,251 | €26,230 | €33,423 | €35,105 | €28,097 | ▼ 20.0% |
| Amounts receivable within one year40/41 | €9,561 | €15,319 | €26,003 | €23,326 | €22,153 | €18,080 | ▼ 18.4% |
| Trade receivables40 | - | - | - | €23,326 | €22,153 | €17,555 | ▼ 20.8% |
| Other amounts receivable41 | - | - | - | - | - | €524 | - |
| Cash at bank and in hand54/58 | €118 | €11,932 | €227 | €10,096 | €12,681 | €9,857 | ▼ 22.3% |
| Deferred charges and accrued income490/1 | - | - | - | - | €272 | €161 | ▼ 40.9% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €9,879 | €27,451 | €26,430 | €33,623 | €35,305 | €28,297 | ▼ 19.9% |
| Equity10/15 | €9,239 | €9,354 | €9,437 | €9,660 | €9,793 | €1,337 | ▼ 86.4% |
| Contributions10/11 | €14,400 | €14,400 | - | €14,400 | €14,400 | €14,400 | = |
| Profit (loss) carried forward14 | -€5,161 | -€5,046 | -€4,963 | -€4,740 | -€4,607 | -€13,063 | ▼ 184% |
| Amounts payable17/49 | €641 | €18,097 | €16,993 | €23,963 | €25,512 | €26,960 | ▲ 5.7% |
| Amounts payable within one year42/48 | €641 | €6,909 | €16,993 | €23,963 | €25,512 | €26,960 | ▲ 5.7% |
| Trade debts44 | €13 | - | €9,734 | €16,727 | €16,799 | €16,597 | ▼ 1.2% |
| Suppliers440/4 | - | - | - | €16,727 | €16,799 | €16,597 | ▼ 1.2% |
| Taxes, remuneration and social security45 | - | - | - | €146 | €1,623 | €3,312 | ▲ 104% |
| Taxes450/3 | - | - | - | €146 | €366 | - | - |
| Remuneration and social security454/9 | - | - | - | - | €1,257 | €3,312 | ▲ 164% |
| Other amounts payable47/48 | - | - | - | €7,090 | €7,090 | €7,051 | ▼ 0.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €12 | €115 | €83 | €223 | €134 | -€8,456 | - |
| + Depreciation and write-downs630 | €7,500 | - | - | - | - | - | - |
| Operating cash flow (approximation) | €7,512 | €115 | €83 | €223 | €134 | -€8,456 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €11,813 | -€11,705 | €9,869 | €2,584 | -€2,824 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 11 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2023 | micro format | 30-12-2024 | 2025-00628709 |
| 31-12-2022 | micro format | 31-08-2023 | 2023-00393306 |
| 31-12-2021 | micro format | 26-08-2022 | 2022-20330439 |
| 31-12-2020 | micro format | 17-08-2021 | 2021-49400244 |
| 31-12-2019 | micro format | 30-10-2020 | 2020-66100586 |
| 31-12-2018 | micro format | 30-08-2019 | 2019-57900193 |
| 31-12-2017 | micro format | 28-09-2018 | 2018-67200345 |
| 31-12-2016 | full format | 26-08-2017 | 2017-50100191 |
| 31-12-2015 | full format | 28-11-2016 | 2016-69000155 |
| 31-12-2014 | full format | 29-12-2015 | 2015-70700196 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Directors
1 director, last change in 2025
Van Groeningen Steven Charles C
CurrentDirector · since 11-04-2025
Derived from published Gazette deeds. The KBO keeps the official list of office holders; we do not read it, so the two can differ.
See the directors and other office holders in the KBO →
Not every act has been read: a resignation may still be missing
4 of this company's 7 Belgian Official Gazette deeds have not been read yet. Appointments and resignations recorded in them are not yet in the list of directors: someone who resigned there may still be listed as sitting. The acts are in the Timeline.
Mandate history
3 people since 2023, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Van Groeningen Steven Charles C |
|
| Alhaydary Mohammed Jawad |
|
| Dimov llian |
|
The directors' other companies
1 current director with another company that went bankrupt, was dissolved or struck off
1 other company of this director went bankrupt (2025).
- Golf Trade en SERV bankruptcy on 12-06-2025Official Gazettemandate since 2023
Source: Belgian Official Gazette (bankruptcies, judicial dissolutions, board mandates), FPS Economy (strike-offs) and the KBO register. A bankruptcy, dissolution or strike-off says nothing about the director's part in it. Only boards we have read from the Gazette; other companies may still be missing.
Owners and capital
Capital and shareholders
Shareholders according to the deeds
Stated in the act
act of 11-04-2025 ↗
- Van Groeningen Steven Charles C all shares
Share transfer
act of 11-04-2025 ↗
- Alhaydary Mohammed Jawad to Van Groeningen Steven Charles C 186 shares
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
Group and network
Connections & network
1 connected companyThe connected companies are in the list below.
This company
Company
Director
Shareholding
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Linked via shared directors
History
Acts, filings and financial milestones
2026
28-07
Gazette deed
Registered office · Other addressesDirector in office · Declaration · Registered-office move6 facts ▸
Gazette deed
Registered office · Other addresses
Director in office · Declaration · Registered-office move6 facts ▸
- General meeting, 27-03-2026
- Director in office, Van Groeningen Steven Charles C (shareholder)
- Declaration, “alle aandeelhouders aanwezig of vertegenwoordigd” (deed in Dutch)
- Registered-office move, Hermann-Debrouxlaan 54 1160 Oudergem
- Declaration, “geen bijzondere gebeurtenissen” (deed in Dutch)
- Declaration, “notulen objectief, duidelijk en volledig; beslissingen uitvoerbaar” (deed in Dutch)
2025
22-08
KBO administration
Address struck
de Meeûssquare 35 · event 10-08-2025
11-04
Gazette deed
Resignation: Alhaydary Mohammed Jawad (director)Appointment: Van Groeningen Steven Charles C (director) · Share transfer · Shareholding6 facts ▸
Gazette deed
Resignation: Alhaydary Mohammed Jawad (director)
Appointment: Van Groeningen Steven Charles C (director) · Share transfer · Shareholding6 facts ▸
- General meeting, 27-01-2025
- Director resignation, Alhaydary Mohammed Jawad (director)
- Director appointment, Van Groeningen Steven Charles C (director)
- Share transfer, Alhaydary Mohammed Jawad → Van Groeningen Steven Charles C
- Shareholding, 186
- Director discharge, AlhaydaryMohammedJawad (manager)
2024
30-12
NBB filing
Annual accounts filed
financial year 2023 · micro format · 152 days late
2023
31-12
Financial
Weakest financial yearnet -€8,456
Net result drops to -€8,456, the lowest in the series.
31-08
NBB filing
Annual accounts filed
financial year 2022 · micro format · 31 days late
27-06
Gazette deed
Resignation: Dimov llian (manager)Appointment: Alhaydary Mohammed Jawad (manager)3 facts ▸
Gazette deed
Resignation: Dimov llian (manager)
Appointment: Alhaydary Mohammed Jawad (manager)3 facts ▸
- General meeting, 02-05-2023
- Director resignation, Dimov llian (manager)
- Director appointment, Alhaydary Mohammed Jawad (manager)
2022
26-08
NBB filing
Annual accounts filed
financial year 2021 · micro format · 26 days late
2021
31-12
Financial
Highest result from 2018 to 2023net €223 ▲168%
Net result €223, the highest in the series.
17-08
NBB filing
Annual accounts filed
financial year 2020 · micro format · 17 days late
2020
30-10
NBB filing
Annual accounts filed
financial year 2019 · micro format · 91 days late
2019
30-08
NBB filing
Annual accounts filed
financial year 2018 · micro format · 30 days late
Show earlier events
2018
28-09
NBB filing
Annual accounts filed
financial year 2017 · micro format · 59 days late
2017
26-08
NBB filing
Annual accounts filed
financial year 2016 · full format · 26 days late
2016
28-11
NBB filing
Annual accounts filed
financial year 2015 · full format · 120 days late
2015
29-12
NBB filing
Annual accounts filed
financial year 2014 · full format · 151 days late
SignalFinancial milestoneGazette deedNBB filingFinancial milestones sit on the financial year-end date, not the filing date.Of the 11 annual accounts filed, the latest 10 are here; all 11 are under Financials.
3 of 7 deeds read
About the unread acts
Of the 7 Belgian Official Gazette deeds we know for this company, 3 have been read. The other 4 have not been read yet: what they contain is neither established nor disproved here.
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Register details
Identification
Legal formPrivate limited company (pre-2019)
Founded20-12-2012
Financial year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0508622864
Registered
30-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 31 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
Location & real-estate footprint
Registered office, Oudergem · 1 establishment unit since 2013
Ground area
5,196 m²
Building footprint
2,050 m²
Building volume
52,093 m³
2 parcels, Brussels · tallest building 31.7 m. Linked by address, not a title deed.
180
companies at this address
See who is registered here
1 establishment unit
Arbitrium
since 2013unit no. 2.215.878.589
2 parcels
Brussels
2
(100%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21332B0081/00H002 | Brussels | 3,929 m² | 1 · 1,150 m² | 30.4 m · 9 |
| 21805E0456/00C000 | Brussels | 1,266 m² | 1 · 900 m² | 31.7 m · 9 |
How the parcels are linked
Good to know
Both parcels match the address exactly.