ARCADE
ActiveSummary
ARCADE has been active since 1991 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.5m and a net result of €41,494. Equity is growing by ~22.5% per year across the filed fiscal years. Its solvency ranks better than 37% of 4565 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability55▼-7
Solvency49▼-7
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €150,000 at 30 days acceptable
Liquidity short (current ratio 0.61 against 0.66 in 2024; short-term debt: 29.7% and cash: 0.1% of total assets), and 75.9% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% 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
24.1%
Return on assets
0.4%
Age of the figures
9 mo
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 17-07-2026, 14 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
14 d early
2024
28 d late
2023
13 d early
2022
6 d early
2021
74 d late
2020
26 d late
2019
51 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 6 days after the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed 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
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€41,494▼ 84.2%
2024 · €262,304
Working capital
-€1.2m▼ 24.0%
2024 · -€956,571
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€627,664▲ 29.0%€693,250▲ 10.4%€534,004▼ 23.0%€545,706▲ 2.2%€254,709▼ 53.3%
Net result€443,736▲ 49.1%€471,104▲ 6.2%€282,918▼ 39.9%€262,304▼ 7.3%€41,494▼ 84.2%
Equity€1.4m▲ 45.3%€1.9m▲ 33.1%€2.2m▲ 14.9%€2.4m▲ 12.0%€2.5m▲ 1.7%
Total assets€5.5m▲ 6.7%€6.8m▲ 22.6%€6.7m▼ 1.7%€8.0m▲ 19.7%€10.3m▲ 29.2%
Debt€4.0m▼ 2.3%€4.8m▲ 19.5%€4.4m▼ 8.1%€5.5m▲ 23.8%€7.8m▲ 42.0%
Working capital-€659,195▲ 26.0%-€1.6m▼ 144%-€2.1m▼ 29.8%-€956,571▲ 54.2%-€1.2m▼ 24.0%
Staff (FTE)0.71▲ 42.9%1=
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 53% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €10.3m
Fixed assets
€8.4m ▲ 37.6%
Current assets
€1.9m ▲ 1.5%
Equity and liabilities €10.3m
Equity
€2.5m ▲ 1.7%
Provisions
€63,010 ▼ 8.0%
Debt
€7.8m ▲ 42.0%
Debt's share of the balance-sheet total rises from 68.6% to 75.3%. Equity and debt are higher.
Key figures and ratios
EBITDA
€911,557▼
2024 · €950,438
Cash flow
€698,342▲
2024 · €667,036
Current ratio
0.61▼
2024 · 0.66
Debt to equity
3.13▲
2024 · 2.24
ROE
1.7%▼
2024 · 10.8%
ROA
0.4%▼
2024 · 3.3%
Interest coverage
4.29▼
2024 · 4.66
Debt ≤ 1 year
€3.1m▲
2024 · €2.8m
Debt > 1 year
€4.7m▲
2024 · €2.6m
Income taxes
€22,963▼
2024 · €89,107
Staff costs
€52,621▼
2024 · €57,456
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €4,913 | - |
| Remuneration, social security and pensions62 | €1,185 | €8,092 | €38,620 | €57,456 | €52,621 | ▼ 8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €347,004 | €330,894 | €360,942 | €404,732 | €656,848 | ▲ 62.3% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | -€916 | - | - | - | - | - |
| Other operating charges640/8 | €112,819 | €115,514 | €131,577 | €164,303 | €135,760 | ▼ 17.4% |
| Non-recurring operating charges66A | €1,875 | €8,381 | €10,805 | - | - | - |
| Gross operating margin9900 | €1.1m | €1.2m | €1.1m | €1.2m | €1.1m | ▼ 6.2% |
| Operating profit (loss)9901 | €627,664 | €693,250 | €534,004 | €545,706 | €254,709 | ▼ 53.3% |
| Financial income75/76B | €2,880 | €25,070 | €6,911 | €6,228 | €16,869 | ▲ 171% |
| Recurring financial income75 | €2,880 | €25,070 | €6,911 | €6,228 | €16,869 | ▲ 171% |
| Financial charges65/66B | €72,165 | €104,000 | €158,737 | €204,099 | €212,632 | ▲ 4.2% |
| Recurring financial charges65 | €72,165 | €104,000 | €158,737 | €204,099 | €212,632 | ▲ 4.2% |
| Profit (loss) for the period before taxes9903 | €558,379 | €614,320 | €382,177 | €347,835 | €58,946 | ▼ 83.1% |
| Transfer from deferred taxes780 | €3,387 | €3,576 | €3,576 | €3,576 | €5,512 | ▲ 54.1% |
| Transfer to deferred taxes680 | €4,851 | - | - | - | - | - |
| Income taxes67/77 | €113,179 | €146,793 | €102,835 | €89,107 | €22,963 | ▼ 74.2% |
| Profit (loss) for the period9904 | €443,736 | €471,104 | €282,918 | €262,304 | €41,494 | ▼ 84.2% |
| Transfer from tax-exempt reserves789 | €6,350 | €6,919 | €6,919 | €6,919 | €10,513 | ▲ 52.0% |
| Transfer to tax-exempt reserves689 | €14,553 | - | €126,300 | €84,200 | €0 | ▼ 100% |
| Profit (loss) for the period to be appropriated9905 | €435,533 | €478,022 | €163,537 | €185,023 | €52,007 | ▼ 71.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €5.5m | €6.8m | €6.7m | €8.0m | €10.3m | ▲ 29.2% |
| Fixed assets21/28 | €4.7m | €6.2m | €6.0m | €6.1m | €8.4m | ▲ 37.6% |
| Tangible fixed assets22/27 | €4.7m | €4.7m | €4.5m | €4.6m | €6.0m | ▲ 30.1% |
| Land and buildings22 | €4.3m | €4.6m | €4.5m | €4.5m | €5.9m | ▲ 30.7% |
| Plant, machinery and equipment23 | €3,989 | €1,490 | - | €25,519 | €23,462 | ▼ 8.1% |
| Furniture and vehicles24 | €4,829 | €17,801 | €17,002 | €60,310 | €50,909 | ▼ 15.6% |
| Other tangible fixed assets26 | €53,291 | €49,579 | €44,763 | €48,567 | €72,395 | ▲ 49.1% |
| Assets under construction and advance payments27 | €333,854 | - | - | - | - | - |
| Financial fixed assets28 | €1,600 | €1.5m | €1.5m | €1.5m | €2.4m | ▲ 60.7% |
| Current assets29/58 | €790,502 | €627,818 | €623,517 | €1.9m | €1.9m | ▲ 1.5% |
| Amounts receivable after more than one year29 | - | - | - | - | €1.4m | - |
| Other amounts receivable291 | - | - | - | - | €1.4m | - |
| Amounts receivable within one year40/41 | €598,690 | €557,823 | €589,785 | €1.8m | €398,383 | ▼ 77.3% |
| Trade receivables40 | €285,283 | €212,282 | €234,667 | €126,777 | €165,111 | ▲ 30.2% |
| Other amounts receivable41 | €313,407 | €345,541 | €355,118 | €1.6m | €233,273 | ▼ 85.7% |
| Cash at bank and in hand54/58 | €128,641 | €29,948 | €9,873 | €27,531 | €5,190 | ▼ 81.1% |
| Deferred charges and accrued income490/1 | €63,170 | €40,047 | €23,859 | €65,271 | €54,394 | ▼ 16.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €5.5m | €6.8m | €6.7m | €8.0m | €10.3m | ▲ 29.2% |
| Equity10/15 | €1.4m | €1.9m | €2.2m | €2.4m | €2.5m | ▲ 1.7% |
| Contributions10/11 | €142,565 | €142,565 | €142,565 | €142,565 | €142,565 | = |
| Capital10 | €142,565 | €142,565 | €142,565 | €142,565 | €142,565 | = |
| Issued capital100 | €142,565 | €142,565 | €142,565 | €142,565 | €142,565 | = |
| Reserves13 | €170,592 | €163,673 | €283,054 | €360,336 | €349,823 | ▼ 2.9% |
| Non-distributable reserves130/1 | €14,257 | €14,257 | €14,257 | €14,257 | €14,257 | = |
| Legal reserve130 | €14,257 | €14,257 | €14,257 | €14,257 | €14,257 | = |
| Tax-exempt reserves132 | €156,335 | €149,417 | €268,798 | €346,079 | €335,566 | ▼ 3.0% |
| Profit (loss) carried forward14 | €1.1m | €1.6m | €1.8m | €1.9m | €2.0m | ▲ 2.7% |
| Provisions and deferred taxes16 | €79,250 | €75,674 | €72,098 | €68,521 | €63,010 | ▼ 8.0% |
| Deferred taxes168 | €79,250 | €75,674 | €72,098 | €68,521 | €63,010 | ▼ 8.0% |
| Amounts payable17/49 | €4.0m | €4.8m | €4.4m | €5.5m | €7.8m | ▲ 42.0% |
| Amounts payable after more than one year17 | €2.5m | €2.5m | €1.7m | €2.6m | €4.7m | ▲ 77.1% |
| Financial debts170/4 | €2.5m | €2.5m | €1.7m | €2.6m | €4.7m | ▲ 77.5% |
| Other amounts payable178/9 | €13,580 | €14,080 | €9,610 | €17,027 | €18,167 | ▲ 6.7% |
| Amounts payable within one year42/48 | €1.4m | €2.2m | €2.7m | €2.8m | €3.1m | ▲ 9.2% |
| Current portion of amounts payable after more than one year42 | €759,327 | €388,281 | €1.0m | €457,970 | €617,814 | ▲ 34.9% |
| Financial debts43 | - | €903,000 | €704,197 | €2.1m | €1.4m | ▼ 30.7% |
| Credit institutions430/8 | - | €903,000 | €704,197 | €2.1m | €1.4m | ▼ 30.7% |
| Trade debts44 | €33,044 | €25,139 | €106,846 | €85,228 | €137,276 | ▲ 61.1% |
| Suppliers440/4 | €33,044 | €25,139 | €106,846 | €85,228 | €137,276 | ▲ 61.1% |
| Taxes, remuneration and social security45 | €97,044 | €110,776 | €24,690 | €55,878 | €48,454 | ▼ 13.3% |
| Taxes450/3 | €97,044 | €108,027 | €21,872 | €49,900 | €39,904 | ▼ 20.0% |
| Remuneration and social security454/9 | - | €2,749 | €2,817 | €5,978 | €8,550 | ▲ 43.0% |
| Other amounts payable47/48 | €560,282 | €808,819 | €863,216 | €158,415 | €839,499 | ▲ 430% |
| Accrued charges and deferred income492/3 | €52,983 | €59,527 | €13,852 | €25,533 | €29,904 | ▲ 17.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €443,736 | €471,104 | €282,918 | €262,304 | €41,494 | ▼ 84.2% |
| + Depreciation and write-downs630 | €347,004 | €330,894 | €360,942 | €404,732 | €656,848 | ▲ 62.3% |
| Operating cash flow (approximation) | €790,740 | €801,998 | €643,860 | €667,036 | €698,342 | ▲ 4.7% |
| Investment in fixed assets (approximation) | - | -€1.7m | -€252,562 | -€489,554 | -€3.0m | ▼ 505% |
| Change in cash | - | -€98,693 | -€20,075 | €17,658 | -€22,341 | ▼ 227% |
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
17-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €41,494 ▼84.2%
Net result drops to €41,494, the lowest in the series.
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 28 days late
2024
18-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Equity above €2mEq €2.2m ▲14.9%
6 profitable years in a row build equity to €2.2m.
25-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €471,104 ▲6.2%
Operating result €693,250, net result €471,104, both a record.
13-10
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 74 days late
2021
31-12
Financial
Equity above €1mEq €1.4m ▲45.3%
4 profitable years in a row build equity to €1.4m.
26-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
31-12
Financial
Equity above €500,000Eq €979,528 ▲188%
3 profitable years in a row build equity to €979,528.
10-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
30-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 61 days late
2018
17-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 17 days late
2017
28-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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, Liège · 1 establishment unit since 1991
Ground area
3,884 m²
Building footprint
280 m²
Volume, LiDAR
5,643 m³
Parcel 62078A0558/00D037, Wallonia · tallest building 26.2 m, ±7 floors. Linked by address, not a title deed.
11
companies at this address
See who is registered here
1 establishment unit
Quai Timmermans 14, 4000 Liège
since 19912.052.760.718
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62078A0558/00D037 | Wallonia | 3,884 m² | 1 · 280 m² | 26.2 m · 7 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.
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Of 9,143 companies in sector 68201 we hold annual accounts for 6,769. 4,032 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded30-04-1991
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
68203Renting and operating of own or leased non-residential real estate, excluding land
Scores and ratios are computed by Checked and are not a credit decision.