ARCAD
ActiveSummary
ARCAD has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €526,515 and a net result of €65,589. Equity is shrinking by ~4.3% per year across the filed fiscal years. Its solvency ranks better than 59% of 9537 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability79▲+4
Solvency88▲+16
Growth58=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40,000 at 30 days acceptable
Liquidity ample (current ratio 1.77 against 1.34 in 2024; short-term debt: 31.2% and cash: 18.5% of total assets), and 36.7% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer 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 2025Solvency, return and age of the figures
Solvency
63.3%
Return on assets
7.9%
Age of the figures
12 mo
neutral · Filed after the deadline
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 21-05-2026, 21 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 · 10 filingsDeviation from the deadline
2025
21 d late
2024
30 d late
2023
31 d late
2022
2 d late
2020
20 d late
2019
90 d early
2018
30 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 2 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€526,515▼ 2.7%
2024 · €540,926
Total assets
€831,136▼ 27.5%
2024 · €1.1m
Net result
€65,589▲ 13.5%
2024 · €57,812
Working capital
€200,253▲ 8.2%
2024 · €185,029
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
Line20202022202320242025
Operating result-€13,478▼ 11.0%€6,083-€75,758▲ 1,145%€80,699▲ 6.5%€93,311▲ 15.6%
Net result-€13,976▼ 4.5%-€7,340-€67,629€57,812▼ 14.5%€65,589▲ 13.5%
Equity€675,381▼ 2.0%€584,781-€572,410▼ 2.1%€540,926▼ 5.5%€526,515▼ 2.7%
Total assets€882,672▼ 14.2%€844,147-€1.1m▲ 31.8%€1.1m▲ 3.0%€831,136▼ 27.5%
Debt€167,890▼ 43.1%€229,965-€515,682▲ 124%€585,559▲ 13.6%€290,221▼ 50.4%
Working capital€259,616▼ 2.5%€183,823-€191,825▲ 4.4%€185,029▼ 3.5%€200,253▲ 8.2%
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 three years in a row; 2025 is 16% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €831,136
Fixed assets
€371,859 ▼ 10.0%
Current assets
€459,277 ▼ 37.3%
Equity and liabilities €831,136
Equity
€526,515 ▼ 2.7%
Provisions
€14,401 ▼ 25.8%
Debt
€290,221 ▼ 50.4%
Debt's share of the balance-sheet total falls from 51.1% to 34.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
€134,665▲
2024 · €122,053
Cash flow
€106,943▲
2024 · €99,166
Current ratio
1.77▲
2024 · 1.34
Debt to equity
0.55▼
2024 · 1.08
ROE
12.5%▲
2024 · 10.7%
ROA
7.9%▲
2024 · 5.0%
Interest coverage
18.06▲
2024 · 11.28
Debt ≤ 1 year
€259,023▼
2024 · €547,643
Debt > 1 year
€26,249▼
2024 · €37,916
Income taxes
€34,108▲
2024 · €32,666
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 20,082 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.2%
went bankrupt
4.7%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.1% 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 20,082 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 | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €41,570 | €41,570 | €41,414 | €41,354 | €41,354 | = |
| Other operating charges640/8 | - | €980 | €1,135 | €568 | €1,094 | ▲ 92.6% |
| Gross operating margin9900 | €29,070 | €48,634 | €118,307 | €122,621 | €135,759 | ▲ 10.7% |
| Operating profit (loss)9901 | -€13,478 | €6,083 | €75,758 | €80,699 | €93,311 | ▲ 15.6% |
| Financial income75/76B | - | €0 | - | €15,604 | €8,843 | ▼ 43.3% |
| Recurring financial income75 | €2 | €0 | - | €15,604 | €8,843 | ▼ 43.3% |
| Financial charges65/66B | - | €3,775 | €2,761 | €10,824 | €7,457 | ▼ 31.1% |
| Recurring financial charges65 | €5,500 | €3,775 | €2,761 | €10,824 | €7,457 | ▼ 31.1% |
| Profit (loss) for the period before taxes9903 | -€18,976 | €2,308 | €72,996 | €85,478 | €94,697 | ▲ 10.8% |
| Transfer from deferred taxes780 | - | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Income taxes67/77 | - | €14,648 | €10,368 | €32,666 | €34,108 | ▲ 4.4% |
| Profit (loss) for the period9904 | -€13,976 | -€7,340 | €67,629 | €57,812 | €65,589 | ▲ 13.5% |
| Transfer from tax-exempt reserves789 | - | €63,750 | €7,500 | €7,500 | €7,500 | = |
| Profit (loss) for the period to be appropriated9905 | -€6,476 | €56,410 | €75,129 | €65,312 | €73,089 | ▲ 11.9% |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €882,672 | €844,147 | €1.1m | €1.1m | €831,136 | ▼ 27.5% |
| Fixed assets21/28 | €579,122 | €495,982 | €454,568 | €413,213 | €371,859 | ▼ 10.0% |
| Tangible fixed assets22/27 | €579,122 | €495,982 | €454,568 | €413,213 | €371,859 | ▼ 10.0% |
| Land and buildings22 | - | €495,982 | €454,568 | €105,695 | €99,210 | ▼ 6.1% |
| Other tangible fixed assets26 | - | - | - | €307,518 | €272,649 | ▼ 11.3% |
| Current assets29/58 | €303,549 | €348,165 | €657,925 | €732,672 | €459,277 | ▼ 37.3% |
| Amounts receivable after more than one year29 | - | - | €305,400 | €289,170 | €265,736 | ▼ 8.1% |
| Other amounts receivable291 | - | - | €305,400 | €289,170 | €265,736 | ▼ 8.1% |
| Amounts receivable within one year40/41 | €90,086 | €9,313 | €56,470 | €42,071 | €39,764 | ▼ 5.5% |
| Trade receivables40 | - | €9,313 | €23,051 | €7,684 | €7,684 | = |
| Other amounts receivable41 | - | - | €33,420 | €34,388 | €32,080 | ▼ 6.7% |
| Cash at bank and in hand54/58 | €212,191 | €338,852 | €296,054 | €401,431 | €153,777 | ▼ 61.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €882,672 | €844,147 | €1.1m | €1.1m | €831,136 | ▼ 27.5% |
| Equity10/15 | €675,381 | €584,781 | €572,410 | €540,926 | €526,515 | ▼ 2.7% |
| Contributions10/11 | €9,296 | €9,296 | €9,296 | - | - | - |
| Reserves13 | €666,085 | €575,485 | €563,114 | €540,926 | €526,515 | ▼ 2.7% |
| Non-distributable reserves130/1 | - | €1,859 | €1,859 | - | - | - |
| Reserves not available under the articles1311 | - | €1,859 | €1,859 | - | - | - |
| Tax-exempt reserves132 | - | €44,101 | €36,601 | €29,101 | €21,601 | ▼ 25.8% |
| Distributable reserves133 | - | €529,525 | €524,654 | €511,825 | €504,914 | ▼ 1.4% |
| Provisions and deferred taxes16 | €39,401 | €29,401 | €24,401 | €19,401 | €14,401 | ▼ 25.8% |
| Deferred taxes168 | - | €29,401 | €24,401 | €19,401 | €14,401 | ▼ 25.8% |
| Amounts payable17/49 | €167,890 | €229,965 | €515,682 | €585,559 | €290,221 | ▼ 50.4% |
| Amounts payable after more than one year17 | €123,957 | €65,623 | €49,582 | €37,916 | €26,249 | ▼ 30.8% |
| Financial debts170/4 | - | €65,623 | €49,582 | €37,916 | €26,249 | ▼ 30.8% |
| Amounts payable within one year42/48 | €43,933 | €164,342 | €466,099 | €547,643 | €259,023 | ▼ 52.7% |
| Current portion of amounts payable after more than one year42 | - | €29,167 | €16,041 | €11,667 | €11,667 | = |
| Trade debts44 | €2,913 | €1,514 | €3,795 | €5,511 | €4,539 | ▼ 17.6% |
| Suppliers440/4 | - | €1,514 | €3,795 | €5,511 | €4,539 | ▼ 17.6% |
| Taxes, remuneration and social security45 | - | €38,648 | €77,010 | €84,397 | €36,786 | ▼ 56.4% |
| Taxes450/3 | - | €38,648 | €59,513 | €84,397 | €36,786 | ▼ 56.4% |
| Remuneration and social security454/9 | - | - | €17,496 | - | - | - |
| Other amounts payable47/48 | - | €95,013 | €369,254 | €446,067 | €206,032 | ▼ 53.8% |
| Accrued charges and deferred income492/3 | - | - | - | - | €4,948 | - |
| Line | 2020 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€13,976 | -€7,340 | €67,629 | €57,812 | €65,589 | ▲ 13.5% |
| + Depreciation and write-downs630 | €41,570 | €41,570 | €41,414 | €41,354 | €41,354 | = |
| Operating cash flow (approximation) | €27,595 | €34,231 | €109,043 | €99,166 | €106,943 | ▲ 7.8% |
| Investment in fixed assets (approximation) | - | - | €0 | €0 | €0 | - |
| Change in cash | - | - | -€42,798 | €105,377 | -€247,654 | ▼ 335% |
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
21-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 21 days late
2025
30-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 30 days late
2024
31-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
30-09
Financial
Back to profitnet €67,629
Net result €67,629 after 4 loss-making years.
02-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 2 days late
2021
20-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 20 days late
2020
30-09
Financial
Weakest financial yearnet -€13,976
Net result drops to -€13,976, the lowest in the series; recovery starts the following year.
30-09
Financial
Liquidity doublescurrent ratio 6.91
Current ratio from 2.87 to 6.91; short-term debt falls from €142,021 to €43,933.
31-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
31-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
01-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
31-05
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 31 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, Zwevegem · 1 establishment unit since 2014
Ground area
604 m²
Building footprint
369 m²
Volume, LiDAR
2,091 m³
Parcel 34042D0087/00P000, Flanders · tallest building 8.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Winkelstraat(Z) 2, 8550 Zwevegem
since 20142.234.844.366
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34042D0087/00P000 | Flanders | 604 m² | 1 · 369 m² | 8.9 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.
Recognitions · licences · registrations
Legal Entity Identifier
894500CGIFOMSE7EY949
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Of 11,577 companies in sector 71121 we hold annual accounts for 6,563. 4,343 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
Founded11-12-1987
Fiscal year end30-09
Activities, NACEBEL 2025
71121Engineering and related technical consultancy, excluding land surveyors
82100Office administrative and support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0432836566
Also
9925:BE0432836566
Registered
23-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.