ARCODE
ActiveSummary
ARCODE has been active since 1989 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €324,524 and a net result of €69,819. Equity is growing by about 29% per year across the filed financial years. The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
- Equity
- €324,524
- Profit
- €69,819
- RICHARD ChristineDirector
- RICHARD ClaraDirector
Why 95raises riskNo main activity registeredFounded in 1989lowers riskSize: total assets €1.0mFigures for financial year 2025 (filed 06-08-2026)Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (no NACE code, micro): better than 34% on solvency, 62% on liquidity, 60% on profitability and 80% on growth.
The bankruptcy probability was computed on 29-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 22 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Highest result from 2018 to 2025net €69,819 ▲19.3%
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, micro format
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result has risen four years in a row; 2025 is 21% above 2024 and is the highest 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.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Use the arrow keys on the chart for the figures per year.
Peer companies
Historical observationOf the 20,136 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 95.0% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
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 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 20,136 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €43,828 | €39,749 | €33,527 | €28,317 | €24,942 | €24,942 | €24,942 | €24,942 | = |
| Other operating charges640/8 | - | - | - | €11,183 | €11,484 | €12,432 | €11,987 | €12,298 | ▲ 2.6% |
| Non-recurring operating charges66A | - | - | - | - | - | - | - | €3,785 | - |
| Gross operating margin9900 | €74,968 | €82,549 | €86,262 | €70,513 | €68,390 | €108,823 | €116,222 | €136,851 | ▲ 17.7% |
| Operating profit (loss)9901 | €21,002 | €29,955 | €41,552 | €31,012 | €31,963 | €71,448 | €79,292 | €95,825 | ▲ 20.9% |
| Financial income75/76B | - | - | - | - | - | €25 | €50 | €30 | ▼ 40.5% |
| Recurring financial income75 | €43 | €0 | €1 | - | - | €25 | €50 | €30 | ▼ 40.5% |
| Financial charges65/66B | - | - | - | €417 | €424 | €519 | €424 | €1,039 | ▲ 145% |
| Recurring financial charges65 | €3,333 | €349 | €427 | €417 | €424 | €519 | €424 | €1,039 | ▲ 145% |
| Profit (loss) for the period before taxes9903 | €17,712 | €29,605 | €41,125 | €30,595 | €31,540 | €70,954 | €78,919 | €94,817 | ▲ 20.1% |
| Transfer from deferred taxes780 | - | - | - | €2,138 | €2,138 | €2,138 | €2,138 | €2,138 | = |
| Income taxes67/77 | €7,004 | €12,386 | €13,923 | €12,047 | €10,663 | €19,867 | €22,557 | €27,136 | ▲ 20.3% |
| Profit (loss) for the period9904 | €13,615 | €19,358 | €29,341 | €20,686 | €23,015 | €53,226 | €58,500 | €69,819 | ▲ 19.3% |
| Transfer from tax-exempt reserves789 | - | - | - | €6,415 | €6,415 | €6,415 | €6,415 | €6,415 | = |
| Profit (loss) for the period to be appropriated9905 | €19,261 | €25,773 | €35,756 | €27,101 | €29,430 | €59,641 | €64,915 | €76,234 | ▲ 17.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.8m | €0.8m | €0.9m | €0.9m | €0.9m | €1.0m | €1.0m | €1.0m | ▲ 6.6% |
| Fixed assets21/28 | €0.8m | €0.7m | €0.7m | €0.7m | €0.6m | €0.6m | €0.6m | €0.6m | ▼ 4.3% |
| Tangible fixed assets22/27 | €0.8m | €0.7m | €0.7m | €0.7m | €0.6m | €0.6m | €0.6m | €0.6m | ▼ 4.3% |
| Land and buildings22 | - | - | - | €0.7m | €0.6m | €0.6m | €0.6m | €0.6m | ▼ 4.3% |
| Financial fixed assets28 | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | €0.001m | = |
| Current assets29/58 | €0.05m | €0.1m | €0.2m | €0.2m | €0.3m | €0.4m | €0.4m | €0.5m | ▲ 23.6% |
| Amounts receivable within one year40/41 | - | - | €0.009m | €0.02m | €0.01m | €0.003m | €0.005m | €0.005m | ▼ 8.3% |
| Trade receivables40 | - | - | - | €0.01m | €0.009m | €0.003m | €0.005m | €0.005m | ▼ 8.3% |
| Other amounts receivable41 | - | - | - | €0.005m | €0.005m | - | - | - | - |
| Current investments50/53 | €72 | €67 | €60 | €47 | €35 | €15 | - | - | - |
| Cash at bank and in hand54/58 | €0.04m | €0.1m | €0.2m | €0.2m | €0.2m | €0.3m | €0.3m | €0.4m | ▲ 24.7% |
| Deferred charges and accrued income490/1 | - | - | - | €0.02m | €0.03m | €0.03m | €0.03m | €0.04m | ▲ 16.7% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.8m | €0.8m | €0.9m | €0.9m | €0.9m | €1.0m | €1.0m | €1.0m | ▲ 6.6% |
| Equity10/15 | €0.05m | €0.07m | €0.1m | €0.1m | €0.1m | €0.2m | €0.3m | €0.3m | ▲ 27.4% |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Capital10 | - | - | - | €0.1m | €0.1m | - | - | - | - |
| Issued capital100 | - | - | - | €0.1m | €0.1m | - | - | - | - |
| Contributions outside capital11 | - | - | - | - | - | €0.1m | - | - | - |
| Other1109/19 | - | - | - | - | - | €0.1m | - | - | - |
| Reserves13 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 5.9% |
| Non-distributable reserves130/1 | - | - | - | €0.004m | €0.004m | - | - | - | - |
| Legal reserve130 | - | - | - | €0.004m | €0.004m | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 6.1% |
| Distributable reserves133 | - | - | - | - | - | €0.004m | €0.004m | €0.004m | = |
| Profit (loss) carried forward14 | -€0.2m | -€0.2m | -€0.2m | -€0.2m | -€0.1m | -€0.06m | €0.004m | €0.08m | ▲ 22× |
| Provisions and deferred taxes16 | €0.05m | €0.05m | €0.04m | €0.04m | €0.04m | €0.04m | €0.03m | €0.03m | ▼ 6.1% |
| Deferred taxes168 | - | - | - | €0.04m | €0.04m | €0.04m | €0.03m | €0.03m | ▼ 6.1% |
| Amounts payable17/49 | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | €0.7m | ▼ 0.6% |
| Amounts payable after more than one year17 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0 | ▼ 100% |
| Other amounts payable178/9 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.5m | €0.7m | ▲ 27.7% |
| Trade debts44 | - | €0.002m | €0.02m | €0.02m | €0.02m | €0.02m | €0.005m | €0.006m | ▲ 5.9% |
| Suppliers440/4 | - | - | - | €0.02m | €0.02m | €0.02m | €0.005m | €0.006m | ▲ 5.9% |
| Taxes, remuneration and social security45 | - | - | - | €0.004m | €0.004m | €0.02m | €0.01m | €0.03m | ▲ 120% |
| Taxes450/3 | - | - | - | €0.004m | €0.004m | €0.02m | €0.01m | €0.03m | ▲ 120% |
| Other amounts payable47/48 | - | - | - | €0.6m | €0.6m | €0.6m | €0.5m | €0.6m | ▲ 25.3% |
| Accrued charges and deferred income492/3 | - | - | - | €0.001m | €0.001m | €0.001m | €0.009m | €0.007m | ▼ 17.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €13,615 | €19,358 | €29,341 | €20,686 | €23,015 | €53,226 | €58,500 | €69,819 | ▲ 19.3% |
| + Depreciation and write-downs630 | €43,828 | €39,749 | €33,527 | €28,317 | €24,942 | €24,942 | €24,942 | €24,942 | = |
| Operating cash flow (approximation) | €57,443 | €59,107 | €62,868 | €49,004 | €47,957 | €78,168 | €83,443 | €94,761 | ▲ 13.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €58,145 | €65,324 | €31,305 | €33,330 | €95,011 | €14,383 | €83,799 | ▲ 483% |
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 36 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 29-07-2026 | 2026-00383458 |
| 31-12-2024 | micro format | 30-07-2025 | 2025-00334844 |
| 31-12-2023 | micro format | 15-07-2024 | 2024-00249348 |
| 31-12-2022 | micro format | 25-05-2023 | 2023-00094450 |
| 31-12-2021 | micro format | 11-08-2022 | 2022-20286356 |
| 31-12-2020 | micro format | 23-06-2021 | 2021-23300206 |
| 31-12-2019 | micro format | 22-06-2020 | 2020-19000164 |
| 31-12-2018 | full format | 23-07-2019 | 2019-37000113 |
| 31-12-2017 | full format | 14-06-2018 | 2018-18600439 |
| 31-12-2016 | full format | 17-05-2017 | 2017-12500490 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Not every act has been read: a resignation may still be missing
Mandate history
- Board
- Day-to-day management
- began earlier
| Name | Functions and periods |
|---|---|
| RICHARD Christine |
|
| RICHARD Clara |
|
| GOSTYNSKI Julia |
|
Owners and capital
Capital and shareholders
- 19-07-2024 Converted to available equity
Group and network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
19-07
Gazette deed
Resignations: RICHARD Christine, RICHARD Clara and GOSTYNSKI JuliaAppointments: RICHARD Christine (director) and RICHARD Clara (director) · Auditor report · Legal-form conversion16 facts ▸
- General meeting, 27-12-2023
- Other provision, “unanimité, Première résolution:Rapports” (deed in French)
- Auditor report, 27-12-2023
- Other provision, “Deuxième résolution:soumission anticipée CSA, à partir date publication présent acte” (deed in French)
- Legal-form conversion, “société à responsabilité limitée” (deed in French)
- Capital conversion, “compte de capitaux propres disponibles” (deed in French)
- Amendment of the articles
- Director resignation, RICHARD Christine (managing director)
- Director resignation, RICHARD Clara (director)
- Director resignation, GOSTYNSKI Julia (director)
- Director discharge, RICHARD Christine
- Director discharge, RICHARD Clara
- +4 further facts in this act
Show earlier events
About the unread acts
Of the 9 Belgian Official Gazette deeds we know for this company, 1 has been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.
Register details
No listing in the Peppol Directory under this enterprise or VAT number. That proves nothing: being listed there is voluntary.
What can you do?
Try sending from your invoicing software; if that fails, ask the customer whether they already receive via Peppol.
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If you follow this company, Checked tells you the day it appears in the Peppol register.
Register as of 30 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
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21012A0011/00V012 | Brussels | 392 m² | 1 · 215 m² | 23.9 m · 4 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “A)la recherche et l'étude d'investissements principalement à caractère immobilier,tant en Belgique qu'à l'étranger,et destinés notamment à…” (deed in French)
3 activities (deed in French)
- A)la recherche et l'étude d'investissements principalement à caractère immobilier,tant en Belgique qu'à l'étranger,et destinés notamment à la transformation,l'adaptation,la rénovation de bâtiments existants ou par la mise en valeur de sites et terrains non bâtis,à vocation soit agricole,soit industrielle ou encore de bureaux ou d'habitat
- B)l'achat,la vente et la gestion de ces biens ou de tous autres biens immobiliers
- C)l'importation et l'exportation,de même que l'achat,la vente,la location ou la promotion de tous matériaux,de machines,outils,appareillages destinés à l'industrie du bâtiment,tant pour le gros-oeuvre que pour les techniques spéciales,la décoration et l'équipement intérieurs et extérieurs
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- ARCODE
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région de Bruxelles-Capitale, créés Belgique ou étranger par organe administration” (deed in French)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Sauf décision contraire AG, mandat exercé à titre gratuit, reste en fonction à demande société jusqu'à remplacement raisonnable” (deed in French)
Capital, shares and profit
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Écrit, Agrément-cession-transmission actions” (deed in French)
- Authorised capitalThe amount by which the board may raise capital without a new shareholder decision.
- One provision in the deed
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Dissoute par assemblée générale délibérant comme modification statuts” (deed in French)“Réparti entre actionnaires proportion actions possédées, administrateur(s) en exercice ou liquidateur(s) nommé(s) par assemblée générale” (deed in French)