ARDENNE RAILS

Active

Public limited companyfounded 1997active for 29 yearsChemin de Xhénorie 11, 4821 Dison, BelgiumKBO/BCE: BE 0460.122.765

From the official registers: KBO 29 annual accounts at the National Bank publications in the Belgian Official Gazette

Summary

ARDENNE RAILS has been active since 1997 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.4m and a net result of €1.1m. Equity is growing by about 24% per year across the filed financial years. Its solvency ranks better than 51% of 2,441 sector peers (NACE 43, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).

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ARDENNE RAILSActiveChecked score 96/100

Risk analysis Report Compare

Official details

KBO

Status: Active since 12-03-1997 Normal situation
Legal form: Public limited company
Registered office: Chemin de Xhénorie 11, 4821 Dison
Activity: Site preparation NACE 43120and 5 others
Establishment unit: 2.080.881.513 4821 Dison, since 14-03-1997
Financial year end: 31 December
Peppol: Reachable since 10-09-2025

Company details

Who decides

Board

GEHLEN MANAGEMENT SRLDirector · since 13-10-2021
GEHLEN RogerDirector · since 13-10-2021
JOENEN EddyDirector · since 13-10-2021

Shareholders

GEHLEN MANAGEMENT52%annual accounts 2025

Holdings: Shares in 1 company DECORECY

Board & ownership

How it is doing

96 Excellent Checked score 2025

Bankruptcy probabilitywithin 12 months: 0.1%

Annual accounts 2025

Gross margin: €3.1m; ▲ 7.8%
Turnover: ≈ €8.8m; estimated
Profit: €1.1m; ▲ 24.2%
Equity: €3.4m; ▲ 48.1%
Total assets: €7.9m; ▲ 16.6%
Staff: 12 FTE; ▼ 4.8%

2025 accounts 31 days early

Filed on 30-06-2026at the National Bank

Financials

Why 96raises riskSector: Specialised construction activities (NACE 43)lowers riskSize: 12 FTE, total assets €7.9mFounded in 1997Profit of €1.1m (financial year 2025)Show the evidence

Checked score

Score 2025

96 / 100

Excellent

Probability in this band: under 0.55%

Financially better than 69% of its sector peers (NACE 43, small)

Every signal that counts is listed under Signals.

Financial strength · tick = 2024

Strong

Solvency 68+9

equity 43.1% of total assets

Liquidity 41+13

short-term debt 42.2% · cash 9.0%

Profitability 86+1

return on assets 14.0%

Bankruptcy probability, 12 months

0.1% Very low

0%0.5%1.5%4%10%≥ 25%

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (2,649 companies, NACE 43, small)

Last 24 months 11-2024: 0.1% 12-2024: 0.1%● unchanged vs 11-2024 01-2025: 0.1%● unchanged vs 12-2024 02-2025: 0.1%● unchanged vs 01-2025 03-2025: 0.1%● unchanged vs 02-2025 04-2025: 0.1%● unchanged vs 03-2025 05-2025: 0.1%● unchanged vs 04-2025 06-2025: 0.1%● unchanged vs 05-2025 07-2025: 0.2%▲ +0.1 percentage points vs 06-2025 08-2025: 0.2%● unchanged vs 07-2025 09-2025: 0.2%● unchanged vs 08-2025 10-2025: 0.2%● unchanged vs 09-2025 11-2025: 0.2%● unchanged vs 10-2025 12-2025: 0.2%● unchanged vs 11-2025 01-2026: 0.2%● unchanged vs 12-2025 02-2026: 0.2%● unchanged vs 01-2026 03-2026: 0.2%● unchanged vs 02-2026 04-2026: 0.3%▲ +0.1 percentage points vs 03-2026 05-2026: 0.3%● unchanged vs 04-2026 06-2026: 0.3%● unchanged vs 05-2026 07-2026: 0.3%● unchanged vs 06-2026 08-2026: 0.6%▲ +0.3 percentage points vs 07-2026 09-2026: 0.8%▲ +0.2 percentage points vs 08-2026highest value 10-2026: 0.1%▼ -0.7 percentage points vs 09-2026lowest value

Credit of up to €320,000 on 30-day terms is acceptable

Liquidity ample (current ratio 1.53, compared with 1.2 in 2024, above the usual 1.5; short-term debt: 42.2% and cash: 9% of total assets), but 56.9% of the assets are financed with debt and provisions.

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 (NACE 43, small): better than 58% on solvency, 43% on liquidity, 84% on profitability and 91% on growth.

The bankruptcy probability was computed on 31-10-2026 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

Five signals.

lowers riskraises riskneutral

Size: 12 FTE, total assets €7.9m

Companies of this size fail less often; how much that weighs depends on the rest of its profile.

NBB · annual accounts

Founded in 1997

Companies that have existed this long fail less often; how much that weighs depends on the rest of its profile.

KBO

Sector: Specialised construction activities (NACE 43)

KBO

Profit of €1.1m (financial year 2025)

NBB · annual accounts

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-06-2026, 31 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

31 days early

2024

22 days early

2023

37 days early

2022

47 days early

2021

31 days early

2020

38 days early

2019

59 days 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 38 days before the deadline; the sector median (NACE 43) for financial year 2024 is 1 day before the deadline, and 43% of those companies filed late.

Searched, nothing found (2)

Next filing not due yet

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 30 June (5 of the last 5 filed years within 30 days of that day).

Companies Code · seven months

Where today falls in the filing period

01-11-2026 today31-12-2026 year end31-07-2027 deadline

No strike-offs in the KBO publications

Searched since 2021.

KBO publications · our coverage

Key points

Positive: 3rd largest company by equity in Dison, Construction sectorin the Checked rankings No. 3 View
Positive: Filed on time since financial year 2018accounts within the deadline every year 8 years View
Positive: 8 profitable years in a rowprofit 2025: €1.1m 8 years View
Positive: Equity rose in 2025from €2.3m to €3.4m ▲ 48.1% View

Documents

Key facts about ARDENNE RAILS

What is the company number of ARDENNE RAILS?: 0460.122.765. In Belgium the VAT number is the company number with BE in front: BE 0460.122.765.
Where is ARDENNE RAILS based?: The registered office is at Chemin de Xhénorie 11, 4821 Dison.Company details
What does ARDENNE RAILS do?: According to the KBO register, the main activity is site preparation (NACE 43120).
What is the legal form of ARDENNE RAILS?: Public limited company (NV).
When was ARDENNE RAILS founded?: On 12-03-1997.
Is ARDENNE RAILS still active?: Yes, ARDENNE RAILS is an active enterprise in the KBO register.
How many employees does ARDENNE RAILS have?: On average 12 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
What is the turnover of ARDENNE RAILS?: ≈ €8.8m in financial year 2025. Estimated from the gross margin of €3.1m: probably between €6.7m and €12.0m, based on 68 comparable companies, NACE 43.
Is ARDENNE RAILS profitable?: In financial year 2025, ARDENNE RAILS made a profit of €1.1m.
Where can I find the annual accounts of ARDENNE RAILS?: ARDENNE RAILS filed 29 annual accounts with the National Bank of Belgium, the latest for financial year 2025.Annual accounts at the National Bank
When are the next annual accounts of ARDENNE RAILS due?: By 31-07-2027, for financial year 2026.Timeline