ARGINE
ActiveSummary
ARGINE has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €86,495 and a net result of -€2,936. Equity is shrinking by ~8.3% per year across the filed fiscal years. Its solvency ranks better than 47% of 225 sector peers (fiscal year 2026). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2026
Axes · tick = 2025
Profitability32▲+21
Solvency58▲+2
Growth32=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,500 at 30 days acceptable
Liquidity short (current ratio 0.3 against 0.49 in 2025; short-term debt: 24% and cash: 1.5% of total assets), and 67% 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 · 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2026Solvency, return and age of the figures
Solvency
33%
Return on assets
-1.1%
Age of the figures
6 mo
raises risk · Persistent losses
Two consecutive loss-making years (2025 and 2026); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2026Net result per financial year
1920212223242526
2019 to 2026 · latest year -€2,936
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2026 was due by 31-10-2026 and was filed on 24-08-2026, 68 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2026
68 d early
2025
31 d late
2024
64 d early
2023
21 d early
2022
16 d late
2021
4 d early
2020
on the day
← 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 16 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2027 and is due by 31-10-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-03-2027 close31-10-2027 deadline
History
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Financials · fiscal year 2026, micro schema
In the rankings
#5 oldest company in Gesves, Wholesale and retail trade sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€2,936▲ 84.3%
2025 · -€18,645
Working capital
-€43,833▼ 31.7%
2025 · -€33,272
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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
Line20222023202420252026
Operating result€2,266▼ 90.9%-€14,268-€3,945▲ 72.4%-€14,735▼ 274%€9,478
Net result-€4,654below the sector's middle half-€22,294below the sector's middle half▼ 379%-€10,544below the sector's middle half▲ 52.7%-€18,645below the sector's middle half▼ 76.8%-€2,936▲ 84.3%
Equity€140,913within the sector's middle half▼ 3.2%€118,620within the sector's middle half▼ 15.8%€108,076within the sector's middle half▼ 8.9%€89,431within the sector's middle half▼ 17.3%€86,495▼ 3.3%
Total assets€357,290below the sector's middle half▼ 2.1%€368,507below the sector's middle half▲ 3.1%€314,360within the sector's middle half▼ 14.7%€283,953within the sector's middle half▼ 9.7%€262,161▼ 7.7%
Debt€216,377▼ 1.4%€249,888▲ 15.5%€206,284▼ 17.4%€194,522▼ 5.7%€175,667▼ 9.7%
Working capital€42,167▼ 15.4%€9,524▼ 77.4%-€9,467-€33,272▼ 251%-€43,833▼ 31.7%
Solvency39.4%within the sector's middle half▼ 0.4pp32.2%within the sector's middle half▼ 7.3pp34.4%within the sector's middle half▲ 2.2pp31.5%within the sector's middle half▼ 2.9pp33.0%▲ 1.5pp
Staff (FTE)0.3below the sector's middle half=0.3below the sector's middle half=1▲ 233%1=0.8▼ 20.0%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2026: €9,478 after a loss of €14,735 in 2025, the highest result in the available series.
Balance-sheet composition
2026 in colour, 2025 as the grey bar beneath
Assets €262,161
Fixed assets
€243,200 ▼ 3.5%
Current assets
€18,961 ▼ 40.6%
Equity and liabilities €262,161
Equity
€86,495 ▼ 3.3%
Debt
€175,667 ▼ 9.7%
Debt's share of the balance-sheet total falls from 68.5% to 67.0%. Equity and debt are lower.
Key figures and ratios
EBITDA
€22,810▲
2025 · -€1,234
Cash flow
€10,395▲
2025 · -€5,144
Current ratio
0.30▼
2025 · 0.49
Quick ratio
0.07▼
2025 · 0.16
Debt to equity
2.03▼
2025 · 2.18
ROE
-3.4%▲
2025 · -20.8%
ROA
-1.1%▲
2025 · -6.6%
Interest coverage
1.81▲
2025 · -0.34
Debt ≤ 1 year
€62,794▼
2025 · €65,193
Debt > 1 year
€112,873▼
2025 · €129,329
Income taxes
€361▲
2025 · €355
Staff costs
€3,394▼
2025 · €4,448
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,304 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.6%
went bankrupt
8.6%
stopped otherwise
90%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% 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 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 12,304 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.
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €7,408 | - | - | - |
| Remuneration, social security and pensions62 | €5,953 | €6,689 | €4,880 | €4,448 | €3,394 | ▼ 23.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,467 | €10,195 | €12,889 | €13,501 | €13,332 | ▼ 1.3% |
| Other operating charges640/8 | €3,748 | €4,380 | €5,456 | €3,602 | €4,862 | ▲ 35.0% |
| Gross operating margin9900 | €21,433 | €6,995 | €19,280 | €6,816 | €31,066 | ▲ 356% |
| Operating profit (loss)9901 | €2,266 | -€14,268 | -€3,945 | -€14,735 | €9,478 | ▲ 164% |
| Financial income75/76B | €474 | €213 | €71 | €26 | €576 | ▲ 2,097% |
| Recurring financial income75 | €474 | €213 | €71 | €26 | €576 | ▲ 2,097% |
| Financial charges65/66B | €7,160 | €7,983 | €6,330 | €3,581 | €12,629 | ▲ 253% |
| Recurring financial charges65 | €7,160 | €7,983 | €6,330 | €3,581 | €12,629 | ▲ 253% |
| Profit (loss) for the period before taxes9903 | -€4,421 | -€22,039 | -€10,203 | -€18,290 | -€2,576 | ▲ 85.9% |
| Income taxes67/77 | €233 | €255 | €341 | €355 | €361 | ▲ 1.5% |
| Profit (loss) for the period9904 | -€4,654 | -€22,294 | -€10,544 | -€18,645 | -€2,936 | ▲ 84.3% |
| Profit (loss) for the period to be appropriated9905 | -€4,654 | -€22,294 | -€10,544 | -€18,645 | -€2,936 | ▲ 84.3% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €357,290 | €368,507 | €314,360 | €283,953 | €262,161 | ▼ 7.7% |
| Fixed assets21/28 | €246,715 | €269,712 | €262,780 | €252,032 | €243,200 | ▼ 3.5% |
| Intangible fixed assets21 | - | - | €0 | €0 | - | - |
| Tangible fixed assets22/27 | €244,725 | €267,722 | €260,630 | €247,852 | €239,020 | ▼ 3.6% |
| Land and buildings22 | €240,655 | €260,224 | €249,430 | €238,636 | €227,842 | ▼ 4.5% |
| Plant, machinery and equipment23 | €4,070 | €2,750 | €6,151 | €4,761 | €7,317 | ▲ 53.7% |
| Furniture and vehicles24 | - | - | €0 | - | - | - |
| Leasing and similar rights25 | - | - | €0 | - | - | - |
| Other tangible fixed assets26 | - | €4,748 | €5,049 | €4,455 | €3,861 | ▼ 13.3% |
| Financial fixed assets28 | €1,990 | €1,990 | €2,150 | €4,180 | €4,180 | = |
| Current assets29/58 | €110,575 | €98,796 | €51,580 | €31,921 | €18,961 | ▼ 40.6% |
| Stocks and contracts in progress3 | €48,811 | €57,595 | €35,593 | €21,246 | €14,347 | ▼ 32.5% |
| Stocks30/36 | €48,811 | €57,595 | €35,593 | €21,246 | €14,347 | ▼ 32.5% |
| Amounts receivable within one year40/41 | €48,784 | €30,426 | €5,631 | €5,344 | €516 | ▼ 90.3% |
| Trade receivables40 | €12,695 | €12,461 | €5,267 | €5,267 | €300 | ▼ 94.3% |
| Other amounts receivable41 | €36,089 | €17,966 | €364 | €77 | €216 | ▲ 179% |
| Cash at bank and in hand54/58 | €12,081 | €9,777 | €9,490 | €4,136 | €4,053 | ▼ 2.0% |
| Deferred charges and accrued income490/1 | €900 | €997 | €867 | €1,195 | €45 | ▼ 96.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €357,290 | €368,507 | €314,360 | €283,953 | €262,161 | ▼ 7.7% |
| Equity10/15 | €140,913 | €118,620 | €108,076 | €89,431 | €86,495 | ▼ 3.3% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €69,823 | €69,823 | €69,823 | €69,823 | €69,823 | = |
| Non-distributable reserves130/1 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Tax-exempt reserves132 | €67,964 | €67,964 | €67,964 | €67,964 | €67,964 | = |
| Profit (loss) carried forward14 | €52,498 | €30,204 | €19,661 | €1,016 | -€1,921 | ▼ 289% |
| Amounts payable17/49 | €216,377 | €249,888 | €206,284 | €194,522 | €175,667 | ▼ 9.7% |
| Amounts payable after more than one year17 | €147,968 | €160,616 | €145,237 | €129,329 | €112,873 | ▼ 12.7% |
| Financial debts170/4 | €147,968 | €160,616 | €145,237 | €129,329 | €112,873 | ▼ 12.7% |
| Amounts payable within one year42/48 | €68,408 | €89,272 | €61,047 | €65,193 | €62,794 | ▼ 3.7% |
| Current portion of amounts payable after more than one year42 | €11,809 | €15,133 | €16,323 | €15,908 | €17,883 | ▲ 12.4% |
| Trade debts44 | €45,953 | €69,764 | €33,823 | €36,217 | €29,939 | ▼ 17.3% |
| Suppliers440/4 | €45,953 | €69,764 | €33,823 | €36,217 | €29,939 | ▼ 17.3% |
| Taxes, remuneration and social security45 | €6,896 | €4,374 | €10,385 | €11,878 | €6,300 | ▼ 47.0% |
| Taxes450/3 | €6,573 | €4,248 | €10,106 | €11,585 | €6,198 | ▼ 46.5% |
| Remuneration and social security454/9 | €323 | €126 | €280 | €293 | €102 | ▼ 65.1% |
| Other amounts payable47/48 | €3,750 | - | €515 | €1,189 | €8,672 | ▲ 629% |
| Line | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,654 | -€22,294 | -€10,544 | -€18,645 | -€2,936 | ▲ 84.3% |
| + Depreciation and write-downs630 | €9,467 | €10,195 | €12,889 | €13,501 | €13,332 | ▼ 1.3% |
| Operating cash flow (approximation) | €4,812 | -€12,099 | €2,345 | -€5,144 | €10,395 | ▲ 302% |
| Investment in fixed assets (approximation) | - | -€33,192 | -€5,958 | -€2,753 | -€4,500 | ▼ 63.5% |
| Change in cash | - | -€2,304 | -€287 | -€5,354 | -€83 | ▲ 98.5% |
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 2027, expected by
2026
24-08
NBB filing
Annual accounts filed
fiscal year 2026 · micro schema
2025
01-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2024
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2023
10-10
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
31-03
Financial
Weakest financial yearnet -€22,294
Net result drops to -€22,294, the lowest in the series; recovery starts the following year.
2022
16-11
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 16 days late
2021
27-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
31-03
Financial
Back to profitnet €17,500
Net result €17,500 after 2 loss-making years.
2020
31-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2019
20-09
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2018
02-10
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2017
26-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Gesves · 1 establishment unit since 1993
Ground area
561 m²
Building footprint
43 m²
Parcel 92054E0402/00M000, Wallonia. Linked by address, not a title deed.
1 establishment unit
Chaussée de Gramptinne 151, 5340 Gesves
since 19932.064.698.844
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92054E0402/00M000 | Wallonia | 561 m² | 1 · 43 m² | - |
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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteGesves2.064.698.844
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Of 10,510 companies in sector 47110 we hold annual accounts for 5,850. 4,676 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded17-11-1993
Fiscal year end31-03
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
E-invoicing
Reachable via Peppol
Peppol ID
0208:0451301210
Also
9925:BE0451301210
Registered
19-08-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.