Summary
Arfides is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €1.7m and a net result of €111,552. Equity is growing by ~15.6% per year across the filed fiscal years. Its solvency ranks better than 80% of 2445 sector peers (fiscal year 2025). The company has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
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 30-07-2026, 1 day ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
1 d early
2024
2 d early
2023
64 d late
2022
29 d late
2021
31 d late
2020
31 d late
2019
21 d late
← 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 25 days after the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% 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. Usually files around 29 August (4 of the last 5 filed years within 31 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#10 company by equity in Oudergem, Finance and insurance sector
Equity
€1.7m▲ 0.9%
2024 · €1.7m
Net result
€111,552▼ 52.0%
2024 · €232,260
Total assets
€1.8m▼ 0.5%
2024 · €1.8m
Solvency
92.0%▲ 1.3pp
2024 · 90.7%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€151,053▼ 53.2%€121,460▼ 19.6%€339,199▲ 179%€262,528▼ 22.6%€133,387▼ 49.2%
Net result€104,026within the sector's middle half▼ 52.8%€84,247above the sector's middle half▼ 19.0%€234,227above the sector's middle half▲ 178%€232,260above the sector's middle half▼ 0.8%€111,552within the sector's middle half▼ 52.0%
Equity€1.1mwithin the sector's middle half▲ 10.4%€1.2mabove the sector's middle half▲ 7.6%€1.4mabove the sector's middle half▲ 19.6%€1.7mwithin the sector's middle half▲ 16.3%€1.7mwithin the sector's middle half▲ 0.9%
Total assets€1.2mwithin the sector's middle half▼ 0.5%€1.2mabove the sector's middle half▲ 3.1%€1.6mabove the sector's middle half▲ 31.8%€1.8mwithin the sector's middle half▲ 13.8%€1.8mbelow the sector's middle half▼ 0.5%
Debt€75,781▼ 59.2%€28,260▼ 62.7%€181,553▲ 542%€170,427▼ 6.1%€146,157▼ 14.2%
Working capital€896,622above the sector's middle half▲ 15.1%€1.0mabove the sector's middle half▲ 12.4%€1.3mabove the sector's middle half▲ 24.8%€1.5mabove the sector's middle half▲ 18.5%€1.5mwithin the sector's middle half▼ 0.4%
Solvency93.6%above the sector's middle half▲ 9.2pp97.7%above the sector's middle half▲ 4.1pp88.7%above the sector's middle half▼ 9.0pp90.7%above the sector's middle half▲ 2.0pp92.0%above the sector's middle half▲ 1.3pp
Current ratio12.87above the sector's middle half▲ 7.6736.68above the sector's middle half▲ 23.827.92above the sector's middle half▼ 28.769.74above the sector's middle half▲ 1.8211.16above the sector's middle half▲ 1.42
Return on assets (ROA)8.8%within the sector's middle half▼ 9.7pp6.9%within the sector's middle half▼ 1.9pp14.6%within the sector's middle half▲ 7.7pp12.7%above the sector's middle half▼ 1.9pp6.1%within the sector's middle half▼ 6.6pp
Staff (FTE)0.4within the sector's middle half0.5below the sector's middle half▲ 25.0%
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2025 Net result -52% on 2024. The accounts now follow the full schema, last year the abbreviated schema.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 49% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.8m
Fixed assets
€188,542 ▲ 11.9%
Current assets
€1.6m ▼ 1.8%
Equity and liabilities €1.8m
Equity
€1.7m ▲ 0.9%
Debt
€146,157 ▼ 14.2%
Debt's share of the balance-sheet total falls from 9.3% to 8.0%. Equity is higher and debt is lower.
Key figures and ratios
ROE
6.7%▼
2024 · 14.0%
Debt ≤ 1 year
€146,157▼
2024 · €170,427
Income taxes
€46,960▼
2024 · €92,955
Staff costs
€37,007▲
2024 · €29,667
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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €29,667 | €37,007 | ▲ 24.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €27,540 | €27,666 | €27,780 | €4,661 | €4,887 | ▲ 4.8% |
| Other operating charges640/8 | €1,723 | €1,326 | €1,963 | €3,136 | €3,750 | ▲ 19.6% |
| Gross operating margin9900 | €180,316 | €150,452 | €368,942 | €299,992 | €179,030 | ▼ 40.3% |
| Operating profit (loss)9901 | €151,053 | €121,460 | €339,199 | €262,528 | €133,387 | ▼ 49.2% |
| Financial income75/76B | €1,167 | €3,325 | €4,364 | €63,234 | €25,636 | ▼ 59.5% |
| Recurring financial income75 | €1,167 | €3,325 | €4,364 | €63,234 | €25,636 | ▼ 59.5% |
| Financial charges65/66B | €1,458 | €824 | €422 | €547 | €510 | ▼ 6.6% |
| Recurring financial charges65 | €1,458 | €824 | €422 | €547 | €510 | ▼ 6.6% |
| Profit (loss) for the period before taxes9903 | €150,761 | €123,961 | €343,142 | €325,215 | €158,512 | ▼ 51.3% |
| Income taxes67/77 | €46,735 | €39,715 | €108,915 | €92,955 | €46,960 | ▼ 49.5% |
| Profit (loss) for the period9904 | €104,026 | €84,247 | €234,227 | €232,260 | €111,552 | ▼ 52.0% |
| Profit (loss) for the period to be appropriated9905 | €104,026 | €84,247 | €234,227 | €232,260 | €111,552 | ▼ 52.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.2m | €1.2m | €1.6m | €1.8m | €1.8m | ▼ 0.5% |
| Fixed assets21/28 | €211,442 | €184,669 | €169,166 | €168,451 | €188,542 | ▲ 11.9% |
| Tangible fixed assets22/27 | €158,942 | €132,169 | €116,666 | €115,951 | €136,042 | ▲ 17.3% |
| Furniture and vehicles24 | €47,294 | €24,414 | €1,805 | €2,983 | €1,989 | ▼ 33.3% |
| Other tangible fixed assets26 | €111,648 | €107,755 | €114,862 | €112,968 | €134,053 | ▲ 18.7% |
| Financial fixed assets28 | €52,500 | €52,500 | €52,500 | €52,500 | €52,500 | = |
| Current assets29/58 | €972,190 | €1.0m | €1.4m | €1.7m | €1.6m | ▼ 1.8% |
| Amounts receivable within one year40/41 | €255,355 | €207,799 | €179,972 | €355,416 | €422,792 | ▲ 19.0% |
| Trade receivables40 | €226,875 | €191,700 | €153,400 | €308,550 | €408,375 | ▲ 32.4% |
| Other amounts receivable41 | €28,480 | €16,099 | €26,572 | €46,866 | €14,417 | ▼ 69.2% |
| Current investments50/53 | - | €651,909 | €654,492 | €1.2m | €1.2m | ▲ 1.1% |
| Cash at bank and in hand54/58 | €714,945 | €174,020 | €601,371 | €116,475 | €7,045 | ▼ 94.0% |
| Deferred charges and accrued income490/1 | €1,891 | €1,961 | €2,877 | €3,001 | €2,415 | ▼ 19.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.2m | €1.2m | €1.6m | €1.8m | €1.8m | ▼ 0.5% |
| Equity10/15 | €1.1m | €1.2m | €1.4m | €1.7m | €1.7m | ▲ 0.9% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €619,205 | €703,451 | €937,678 | €1.2m | €1.2m | ▲ 1.3% |
| Non-distributable reserves130/1 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Tax-exempt reserves132 | €176 | €176 | €176 | €176 | €176 | = |
| Distributable reserves133 | €612,829 | €697,075 | €931,302 | €1.2m | €1.2m | ▲ 1.3% |
| Profit (loss) carried forward14 | €426,646 | €426,646 | €426,646 | €426,646 | €426,646 | = |
| Amounts payable17/49 | €75,781 | €28,260 | €181,553 | €170,427 | €146,157 | ▼ 14.2% |
| Amounts payable within one year42/48 | €75,568 | €28,235 | €181,553 | €170,427 | €146,157 | ▼ 14.2% |
| Trade debts44 | €11,513 | €14,839 | €13,796 | €61,091 | €24,193 | ▼ 60.4% |
| Suppliers440/4 | €11,513 | €14,839 | €13,796 | €61,091 | €24,193 | ▼ 60.4% |
| Taxes, remuneration and social security45 | €63,769 | €13,396 | €167,757 | €109,336 | €106,964 | ▼ 2.2% |
| Taxes450/3 | €63,769 | €13,396 | €167,757 | €105,238 | €100,180 | ▼ 4.8% |
| Remuneration and social security454/9 | - | - | - | €4,098 | €6,784 | ▲ 65.6% |
| Other amounts payable47/48 | €285 | - | - | - | €15,000 | - |
| Accrued charges and deferred income492/3 | €214 | €25 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €104,026 | €84,247 | €234,227 | €232,260 | €111,552 | ▼ 52.0% |
| + Depreciation and write-downs630 | €27,540 | €27,666 | €27,780 | €4,661 | €4,887 | ▲ 4.8% |
| Operating cash flow (approximation) | €131,566 | €111,912 | €262,008 | €236,922 | €116,439 | ▼ 50.9% |
| Investment in fixed assets (approximation) | - | -€893 | -€12,277 | -€3,946 | -€24,978 | ▼ 533% |
| Change in cash | - | -€540,925 | €427,351 | -€484,896 | -€109,430 | ▲ 77.4% |
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
30-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
03-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 64 days late
2023
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 29 days late
2022
31-12
Financial
Weakest financial yearnet €84,247 ▼19%
Net result drops to €84,247, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity triplescurrent ratio 36.68
Current ratio from 12.87 to 36.68; short-term debt falls from €75,568 to €28,235.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
31-12
Financial
Liquidity doublescurrent ratio 12.87
Current ratio from 5.19 to 12.87; short-term debt falls from €185,772 to €75,568.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
31-12
Financial
Equity above €1mEq €1.0m ▲28.1%
3 profitable years in a row build equity to €1.0m.
21-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 21 days late
2019
31-12
Financial
Highest result since 2018net €288,561 ▲114%
Operating result €447,518, net result €288,561, both a record.
Show earlier events
31-12
Financial
Equity above €500,000Eq €783,584 ▲58.3%
2 profitable years in a row build equity to €783,584.
05-12
State Gazette act
General meeting · Demerger
Accounting effect · Net-asset statement
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 27 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 31 days late
18-07
State Gazette act
General meeting · Statutes amendment
Director resignation · Director discharge · Jan Boeykens
22-05
State Gazette act
General meeting · Director resignation
Director appointment · Permanent representative
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Oudergem · 1 establishment unit since 2012
Ground area
2,655 m²
Building footprint
1,218 m²
Volume, LiDAR
24,650 m³
Parcel 21332B0289/00R003, Brussels · tallest building 25.9 m, ±7 floors. Linked by address, not a title deed.
36
companies at this address
See who is registered here
1 establishment unit
Arfides
since 20122.213.858.219
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21332B0289/00R003 | Brussels | 2,655 m² | 1 · 1,218 m² | 25.9 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.
Structure & network
Connections & network
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Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
1 location
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Identification & contact
Identification
Legal formPublic limited company
Founded18-10-2012
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0849719802
Also
9925:BE0849719802
Registered
30-06-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.