ARBOR
InactiveInactive; last annual accounts for fiscal year 2024.
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 31-12-2024 was due by 31-07-2025 and was filed on 31-07-2025, 0 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
not confirmed
2024
on the day
2023
71 d early
2022
17 d early
2021
153 d early
2020
54 d early
2019
67 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 6 accounts on average 38 days before 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 (1)
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Which other companies belong to the same group?TS 33 · 12 companies
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, abbreviated schema
Equity
€1.4m▼ 5.1%
2023 · €1.5m
Total assets
€2.6m▼ 23.6%
2023 · €3.4m
Net result
-€74,390
2023 · €917,961
Working capital
€488,633▼ 13.2%
2023 · €563,023
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
Line20202021202220232024
Operating result€228,111▲ 187%€280,636▲ 23.0%-€58,165-€105,371▼ 81.2%-€74,104▲ 29.7%
Net result€137,978▲ 636%€176,844▲ 28.2%-€59,563€917,961-€74,390
Equity€420,887▲ 48.8%€597,731▲ 42.0%€538,168▼ 10.0%€1.5m▲ 171%€1.4m▼ 5.1%
Total assets€2.5m▲ 5.5%€2.5m▼ 3.1%€2.4m▼ 0.4%€3.4m▲ 38.0%€2.6m▼ 23.6%
Debt€2.1m▼ 0.3%€1.9m▼ 12.2%€1.9m▲ 2.7%€1.9m▲ 0.5%€1.2m▼ 37.7%
Working capital-€342,386▼ 4.3%-€480,548▼ 40.4%-€455,639▲ 5.2%€563,023€488,633▼ 13.2%
Staff (FTE)0.9▼ 10.0%1▲ 11.1%1=1=1=
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €74,104 in 2024 against €105,371 in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €2.6m
Fixed assets
€2.1m =
Current assets
€491,380 ▼ 61.8%
Equity and liabilities €2.6m
Equity
€1.4m ▼ 5.1%
Debt
€1.2m ▼ 37.7%
Debt's share of the balance-sheet total falls from 56.8% to 46.3%. Equity and debt are lower.
Key figures and ratios
Debt to equity
0.86▼
2023 · 1.31
ROE
-5.4%▼
2023 · 63.0%
ROA
-2.9%▼
2023 · 27.2%
Debt ≤ 1 year
€2,747▼
2023 · €723,504
Debt > 1 year
€1.2m=
2023 · €1.2m
Income taxes
€143
Staff costs
€52,921▼
2023 · €79,680
A ratio outside any meaningful range has been withheld (balance sheet total €2.6m, equity €1.4m).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €66,221 | €79,680 | €52,921 | ▼ 33.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,885 | €23,837 | - | - | - | - |
| Other operating charges640/8 | - | - | €11,736 | €1,493 | €1,266 | ▼ 15.2% |
| Non-recurring operating charges66A | - | - | €259 | €0 | - | - |
| Gross operating margin9900 | €304,121 | €383,286 | €20,050 | -€24,198 | -€19,917 | ▲ 17.7% |
| Operating profit (loss)9901 | €228,111 | €280,636 | -€58,165 | -€105,371 | -€74,104 | ▲ 29.7% |
| Financial income75/76B | - | - | - | €1.0m | €1,684 | ▼ 99.8% |
| Recurring financial income75 | €3,272 | €851 | - | €1.0m | €1,684 | ▼ 99.8% |
| Non-recurring financial income76B | - | - | - | €1.0m | €0 | ▼ 100% |
| Financial charges65/66B | - | - | €1,397 | €627 | €1,827 | ▲ 191% |
| Recurring financial charges65 | €45,505 | €46,176 | €1,397 | €627 | €1,827 | ▲ 191% |
| Profit (loss) for the period before taxes9903 | €185,877 | €235,311 | -€59,563 | €917,961 | -€74,246 | ▼ 108% |
| Income taxes67/77 | €47,899 | €58,467 | - | - | €143 | - |
| Profit (loss) for the period9904 | €137,978 | €176,844 | -€59,563 | €917,961 | -€74,390 | ▼ 108% |
| Profit (loss) for the period to be appropriated9905 | €137,978 | €176,844 | -€59,563 | €917,961 | -€74,390 | ▼ 108% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.5m | €2.5m | €2.4m | €3.4m | €2.6m | ▼ 23.6% |
| Fixed assets21/28 | €2.3m | €2.3m | €2.2m | €2.1m | €2.1m | = |
| Tangible fixed assets22/27 | €108,309 | €84,472 | - | - | - | - |
| Financial fixed assets28 | €2.2m | €2.2m | €2.2m | €2.1m | €2.1m | = |
| Current assets29/58 | €238,609 | €182,727 | €257,739 | €1.3m | €491,380 | ▼ 61.8% |
| Amounts receivable after more than one year29 | - | - | - | - | €485,106 | - |
| Other amounts receivable291 | - | - | - | - | €485,106 | - |
| Amounts receivable within one year40/41 | €197,003 | €145,847 | €245,949 | €1.3m | €4,000 | ▼ 99.7% |
| Trade receivables40 | - | - | €1,228 | €7,920 | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | €244,721 | €1.3m | €4,000 | ▼ 99.7% |
| Cash at bank and in hand54/58 | €22,296 | €36,517 | €11,450 | €9,744 | €2,274 | ▼ 76.7% |
| Deferred charges and accrued income490/1 | - | - | €340 | €0 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.5m | €2.5m | €2.4m | €3.4m | €2.6m | ▼ 23.6% |
| Equity10/15 | €420,887 | €597,731 | €538,168 | €1.5m | €1.4m | ▼ 5.1% |
| Contributions10/11 | - | - | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €400,887 | €577,731 | €577,731 | €577,731 | €577,731 | = |
| Non-distributable reserves130/1 | - | - | €2,000 | €2,000 | €2,000 | = |
| Reserves not available under the articles1311 | - | - | €2,000 | €2,000 | €2,000 | = |
| Distributable reserves133 | - | - | €575,731 | €575,731 | €575,731 | = |
| Profit (loss) carried forward14 | - | - | -€59,563 | €858,399 | €784,009 | ▼ 8.7% |
| Amounts payable17/49 | €2.1m | €1.9m | €1.9m | €1.9m | €1.2m | ▼ 37.7% |
| Amounts payable after more than one year17 | €1.5m | €1.2m | €1.2m | €1.2m | €1.2m | = |
| Financial debts170/4 | - | - | €1.2m | €1.2m | €1.2m | = |
| Amounts payable within one year42/48 | €580,995 | €663,275 | €713,378 | €723,504 | €2,747 | ▼ 99.6% |
| Trade debts44 | €29,039 | €2,858 | €2,387 | €10,209 | €2,603 | ▼ 74.5% |
| Suppliers440/4 | - | - | €2,387 | €10,209 | €2,603 | ▼ 74.5% |
| Taxes, remuneration and social security45 | - | - | €9,549 | €11,914 | €143 | ▼ 98.8% |
| Taxes450/3 | - | - | - | - | €143 | - |
| Remuneration and social security454/9 | - | - | €9,549 | €11,914 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | €701,441 | €701,381 | €0 | ▼ 100% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €137,978 | €176,844 | -€59,563 | €917,961 | -€74,390 | ▼ 108% |
| + Depreciation and write-downs630 | €10,885 | €23,837 | - | - | - | - |
| Operating cash flow (approximation) | €148,863 | €200,681 | -€59,563 | €917,961 | -€74,390 | ▼ 108% |
| Investment in fixed assets (approximation) | - | €0 | €84,472 | €100,701 | €0 | ▼ 100% |
| Change in cash | - | €14,221 | -€25,068 | -€1,706 | -€7,470 | ▼ 338% |
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
2025
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet -€74,390
Net result drops to -€74,390, the lowest in the series.
31-12
Financial
Liquidity times 101current ratio 178.90
Current ratio from 1.78 to 178.90; short-term debt falls from €723,504 to €2,747.
21-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €917,961
Net result €917,961 after one loss-making year.
31-12
Financial
Liquidity times 5current ratio 1.78
Current ratio from 0.36 to 1.78.
31-12
Financial
Equity above €1mEq €1.5m ▲171%
Equity rises from €538,168 to €1.5m.
14-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
28-02
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Equity above €500,000Eq €597,731 ▲42%
4 profitable years in a row build equity to €597,731.
07-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
06-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 67 days late
Show earlier events
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 29 days late
2018
30-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 30 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
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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Structure & network
Part of the group
TS 33
12 companies
Group, risk and exposure
Owners and holdings
1 owner · 1 holding · 2 subsidiaries in the treeChain of control
- TS 33
- ARBOR
Highest known parent: TS 33. The sources do not say who stands above it.
Owners 1
- TS 33parentSourceaccounts TS 33 2025100%
Holdings 1
-
100%
All subsidiaries, including indirect ones 2
Companies in which this company or one of its subsidiaries holds more than half, or which it consolidates according to the LEI register.
According to the 2024 annual accounts of ARBOR 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.
Public money · subsidies and aid
Flemish government
2022 to 2023 · 2 entries · 17,808 EUR awarded · 17,808 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2023 | 1 | 9,338 EUR | 9,338 EUR |
| 2022 | 1 | 8,470 EUR | 8,470 EUR |