ARE²
ActiveSummary
ARE² has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €57.0m and a net result of €3.1m. Equity is growing by ~5.3% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability48▼-50
Solvency100▲+3
Growth52▼-6
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000,000 at 30 days acceptable
Liquidity short (current ratio 0.01 against 0.13 in 2024; short-term debt: 12.2% and cash: 0.2% of total assets), and 24.2% 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+raises risk○neutral
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
75.8%
Return on assets
4.2%
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 03-07-2026, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
28 d early
2024
15 d early
2023
28 d late
2022
5 d early
2021
59 d early
2020
18 d early
2019
18 d early
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 16 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 (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
27-09-2026 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
€3.1m▼ 83.1%
2024 · €18.4m
Working capital
-€9.0m▼ 15.3%
2024 · -€7.8m
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-€3,620▼ 4.1%-€2,871▲ 20.7%-€5,084▼ 77.1%-€7,744▼ 52.3%-€5,193▲ 32.9%
Net result€3.6m▲ 0.3%€3.7m▲ 3.0%€3.2m▼ 15.9%€18.4m▲ 485%€3.1m▼ 83.1%
Equity€67.5m▲ 5.7%€71.3m▲ 5.6%€74.4m▲ 4.4%€55.2m▼ 25.9%€57.0m▲ 3.3%
Total assets€77.3m▲ 1.5%€106.8m▲ 38.2%€113.6m▲ 6.4%€76.2m▼ 33.0%€75.1m▼ 1.4%
Debt€9.8m▼ 20.4%€35.5m▲ 264%€39.2m▲ 10.3%€21.0m▼ 46.4%€18.2m▼ 13.6%
Working capital-€7.5m▲ 32.8%€14.3m€14.4m▲ 1.1%-€7.8m-€9.0m▼ 15.3%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €5,193 in 2025 against €7,744 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €75.1m
Fixed assets
€75.0m =
Current assets
€117,952 ▼ 89.8%
Equity and liabilities €75.1m
Equity
€57.0m ▲ 3.3%
Debt
€18.2m ▼ 13.6%
Debt's share of the balance-sheet total falls from 27.6% to 24.2%. Equity is higher and debt is lower.
Key figures and ratios
Current ratio
0.01▼
2024 · 0.13
Debt to equity
0.32▼
2024 · 0.38
ROE
5.5%▼
2024 · 33.4%
ROA
4.2%▼
2024 · 24.2%
Debt ≤ 1 year
€9.2m▲
2024 · €9.0m
Debt > 1 year
€9.0m▼
2024 · €12.0m
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 |
|---|---|---|---|---|---|---|
| Operating charges60/66A | €3,620 | €2,871 | €5,084 | €7,744 | €5,193 | ▼ 32.9% |
| Services and other goods61 | €3,300 | €2,549 | €4,752 | €7,403 | €4,949 | ▼ 33.1% |
| Other operating charges640/8 | €320 | €322 | €332 | €341 | €244 | ▼ 28.3% |
| Operating profit (loss)9901 | -€3,620 | -€2,871 | -€5,084 | -€7,744 | -€5,193 | ▲ 32.9% |
| Financial income75/76B | €3.8m | €3.9m | €4.5m | €19.9m | €3.8m | ▼ 81.0% |
| Recurring financial income75 | €3.8m | €3.9m | €4.5m | €19.9m | €3.8m | ▼ 81.0% |
| Income from financial fixed assets750 | €3.8m | €3.8m | €3.8m | €18.8m | €3.8m | ▼ 80.0% |
| Income from current assets751 | - | €152,725 | €715,518 | €1.1m | €27,548 | ▼ 97.5% |
| Financial charges65/66B | €106,604 | €151,930 | €1.3m | €1.4m | €653,555 | ▼ 54.4% |
| Recurring financial charges65 | €106,604 | €151,930 | €1.3m | €1.4m | €653,555 | ▼ 54.4% |
| Debt charges650 | €103,845 | €142,715 | €1.3m | €1.4m | €652,375 | ▼ 54.2% |
| Other financial charges652/9 | €2,759 | €9,214 | €8,748 | €7,739 | €1,179 | ▼ 84.8% |
| Profit (loss) for the period before taxes9903 | €3.6m | €3.7m | €3.2m | €18.4m | €3.1m | ▼ 83.1% |
| Profit (loss) for the period9904 | €3.6m | €3.7m | €3.2m | €18.4m | €3.1m | ▼ 83.1% |
| Profit (loss) for the period to be appropriated9905 | €3.6m | €3.7m | €3.2m | €18.4m | €3.1m | ▼ 83.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €77.3m | €106.8m | €113.6m | €76.2m | €75.1m | ▼ 1.4% |
| Fixed assets21/28 | €75.0m | €75.0m | €75.0m | €75.0m | €75.0m | = |
| Financial fixed assets28 | €75.0m | €75.0m | €75.0m | €75.0m | €75.0m | = |
| Companies linked by participating interests282/3 | €75.0m | €75.0m | €75.0m | €75.0m | €75.0m | = |
| Participating interests282 | €75.0m | €75.0m | €75.0m | €75.0m | €75.0m | = |
| Current assets29/58 | €2.3m | €31.8m | €38.6m | €1.2m | €117,952 | ▼ 89.8% |
| Amounts receivable within one year40/41 | - | €20.1m | €38.5m | €965,912 | €156 | ▼ 100.0% |
| Trade receivables40 | - | €182 | €156 | €156 | €156 | = |
| Other amounts receivable41 | - | €20.1m | €38.5m | €965,756 | - | - |
| Cash at bank and in hand54/58 | €2.3m | €11.7m | €47,427 | €194,070 | €113,631 | ▼ 41.4% |
| Deferred charges and accrued income490/1 | - | - | - | - | €4,166 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €77.3m | €106.8m | €113.6m | €76.2m | €75.1m | ▼ 1.4% |
| Equity10/15 | €67.5m | €71.3m | €74.4m | €55.2m | €57.0m | ▲ 3.3% |
| Contributions10/11 | €50.0m | €50.0m | €50.0m | €50.0m | €50.0m | = |
| Capital10 | €50.0m | €50.0m | €50.0m | €50.0m | €50.0m | = |
| Issued capital100 | €50.0m | €50.0m | €50.0m | €50.0m | €50.0m | = |
| Reserves13 | €17.5m | €21.3m | €24.4m | €5.2m | €7.0m | ▲ 35.0% |
| Non-distributable reserves130/1 | €905,500 | €1.1m | €1.3m | €2.2m | €2.3m | ▲ 7.1% |
| Legal reserve130 | €905,500 | €1.1m | €1.3m | €2.2m | €2.3m | ▲ 7.1% |
| Distributable reserves133 | €16.6m | €20.2m | €23.2m | €3.0m | €4.6m | ▲ 55.4% |
| Amounts payable17/49 | €9.8m | €35.5m | €39.2m | €21.0m | €18.2m | ▼ 13.6% |
| Amounts payable after more than one year17 | - | €18.0m | €15.0m | €12.0m | €9.0m | ▼ 25.0% |
| Financial debts170/4 | - | €18.0m | €15.0m | €12.0m | €9.0m | ▼ 25.0% |
| Credit institutions173 | - | €18.0m | €15.0m | €12.0m | €9.0m | ▼ 25.0% |
| Amounts payable within one year42/48 | €9.8m | €17.5m | €24.2m | €9.0m | €9.2m | ▲ 1.7% |
| Current portion of amounts payable after more than one year42 | - | €3.0m | €3.0m | €3.0m | €3.0m | = |
| Financial debts43 | €9.8m | €3.0m | €3.0m | €6.0m | €6.0m | = |
| Credit institutions430/8 | €9.8m | €3.0m | €3.0m | €6.0m | €6.0m | = |
| Trade debts44 | €3,568 | - | - | €805 | €5,049 | ▲ 528% |
| Suppliers440/4 | €3,568 | - | - | €805 | €5,049 | ▲ 528% |
| Other amounts payable47/48 | - | €11.5m | €18.2m | €75 | €150,000 | ▲ 198,865% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3.6m | €3.7m | €3.2m | €18.4m | €3.1m | ▼ 83.1% |
| Operating cash flow (approximation) | €3.6m | €3.7m | €3.2m | €18.4m | €3.1m | ▼ 83.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €9.4m | -€11.6m | €146,644 | -€80,440 | ▼ 155% |
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
21-09
State Gazette act
Reappointments: Mathilo BV (director) and Juleste Consulting BV (director)Permanent representatives: Els Haeck, Nathalie Baert and Pieter Bourgeois · Resignation: Crescemus BV (director) · Power of attorney9 facts ▸
State Gazette act
Reappointments: Mathilo BV (director) and Juleste Consulting BV (director)
Permanent representatives: Els Haeck, Nathalie Baert and Pieter Bourgeois · Resignation: Crescemus BV (director) · Power of attorney9 facts ▸
- General meeting, 01-09-2026
- Director reappointment, Mathilo BV (director)
- Permanent representative, Els Haeck (permanent representative)
- Director reappointment, Juleste Consulting BV (director)
- Permanent representative, Nathalie Baert (permanent representative)
- Director resignation, Crescemus BV (director)
- Permanent representative, Pieter Bourgeois (permanent representative)
- Power of attorney, Nathalie Baert
- Power of attorney, Freya Loncin
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €3.1m ▼83.1%
Net result drops to €3.1m, the lowest in the series.
16-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Highest result since 2018net €18.4m ▲485%
Net result €18.4m, the highest in the series.
28-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 28 days late
2023
26-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Liquidity times 8current ratio 1.82
Current ratio from 0.23 to 1.82.
02-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
13-07
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
13-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 29 days late
2018
16-07
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 30 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 7 acts read
About the unread acts
Of the 7 Belgian State Gazette acts we know for this company, 1 has been read. The other 6 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 directors, last change in 2026
Board 2
Juleste Consulting BV
CurrentDirector · since 06-05-2026 · Legal entity · perm. rep.: Nathalie Baert
Mathilo BV
CurrentDirector · since 06-05-2026 · Legal entity · perm. rep.: Els Haeck
Permanent representatives 2
Els Haeck
CurrentPermanent representative · since 06-05-2026 · for Mathilo BV
Nathalie Baert
CurrentPermanent representative · since 06-05-2026 · for Juleste Consulting BV
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
6 of this company's 7 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Merelbeke-Melle · 1 establishment unit since 2015
Ground area
655 m²
Building footprint
655 m²
Volume, LiDAR
5,389 m³
2 parcels, Flanders · tallest building 19.7 m, ±3 floors. Linked by address, not a title deed.
8
companies at this address
See who is registered here
1 establishment unit
ARE²
since 20152.244.637.309
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44412C0005/00C000 | Flanders | 366 m² | 1 · 366 m² | 19.7 m · 3 fl. |
| 44412C0015/00F000 | Flanders | 289 m² | 1 · 289 m² | 9.8 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
3 people since 2026, 2 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Juleste Consulting BV |
|
| Mathilo BV |
|
| CRESCEMUS BV |
|
Structure & network
Part of the group
ALYCHLO
52 companies
Group, risk and exposure
Owners and holdings
1 owner · 1 holdingChain of control
- ALYCHLO
- ARE²
Highest known parent: ALYCHLO. The sources do not say who stands above it.
Owners 1
- ALYCHLOparentSourceaccounts ALYCHLO 202599.99%
Holdings 1
-
50%
According to the 2025 annual accounts of ARE² 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
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
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Shareholding
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Identification & contact
Identification
Legal formPublic limited company
Founded16-04-2015
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0628649377
Also
9925:BE0628649377
Registered
05-06-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.