ARGOS
ActiveSummary
ARGOS has been active since 1985 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €363,627 and a net result of -€11,231. Equity is growing by ~20.2% per year across the filed fiscal years. Its solvency ranks better than 82% of 542 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is < 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability16▼-78
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity ample (current ratio 4.92 against 5.36 in 2024; short-term debt: 19.7% and cash: 71.2% of total assets), and 22.9% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 90
Relative position
BE, all sectors
reference
Arts creation and performing arts activities (NACE 90)
about 58% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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 29-05-2026, 63 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
63 d early
2024
13 d early
2023
32 d early
2022
60 d late
2021
62 d early
2020
31 d late
2019
83 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 1 day after the deadline; the sector median for financial year 2024 is 4 days before the deadline, and 38% 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.
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, abbreviated schema
Equity
€363,627▼ 3.0%
2024 · €374,858
Total assets
€471,392▲ 0.4%
2024 · €469,549
Net result
-€11,231
2024 · €94,845
Working capital
€364,335▼ 2.1%
2024 · €372,254
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€1,233▼ 98.0%€108,808▲ 8,724%€9,905▼ 90.9%€96,736▲ 877%-€9,339
Net result€59▼ 99.9%€107,687▲ 183,384%€8,362▼ 92.2%€94,845▲ 1,034%-€11,231
Equity€163,965=€271,652▲ 65.7%€280,014▲ 3.1%€374,858▲ 33.9%€363,627▼ 3.0%
Total assets€412,392▼ 16.5%€494,924▲ 20.0%€377,187▼ 23.8%€469,549▲ 24.5%€471,392▲ 0.4%
Debt€245,402▼ 20.7%€220,247▼ 10.3%€97,173▼ 55.9%€94,691▼ 2.6%€107,764▲ 13.8%
Working capital€264,745▼ 23.0%€355,302▲ 34.2%€285,142▼ 19.7%€372,254▲ 30.6%€364,335▼ 2.1%
Staff (FTE)7.9▼ 21.0%8.2▲ 3.8%7.5▼ 8.5%8.1
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €9,339 after €96,736 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €471,392
Fixed assets
€14,230 ▲ 20.2%
Current assets
€457,162 ▼ 0.1%
Equity and liabilities €471,392
Equity
€363,627 ▼ 3.0%
Debt
€107,764 ▲ 13.8%
Debt's share of the balance-sheet total rises from 20.2% to 22.9%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€3,910▼
2024 · €108,613
Cash flow
-€5,802▼
2024 · €106,722
Current ratio
4.92▼
2024 · 5.36
Debt to equity
0.30▲
2024 · 0.25
ROE
-3.1%▼
2024 · 25.3%
ROA
-2.4%▼
2024 · 20.2%
Interest coverage
-1.94▼
2024 · 44.28
Debt ≤ 1 year
€92,827▲
2024 · €85,460
Debt > 1 year
€2,937▼
2024 · €8,763
Staff costs
€551,816▲
2024 · €462,785
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 < 0.1% 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 497,058 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €1,912 | €133,203 | €4,360 | - | - | - |
| Remuneration, social security and pensions62 | €404,576 | €476,509 | €472,699 | €462,785 | €551,816 | ▲ 19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18,571 | €18,597 | €17,000 | €11,878 | €5,429 | ▼ 54.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €1,416 | -€514 | -€638 | -€1,200 | - | - |
| Other operating charges640/8 | €14,321 | €29,868 | €23,156 | €14,717 | €23,694 | ▲ 61.0% |
| Non-recurring operating charges66A | €19,617 | €262 | €658 | €19,360 | €3,267 | ▼ 83.1% |
| Gross operating margin9900 | €442,244 | €633,530 | €519,756 | €604,276 | €574,867 | ▼ 4.9% |
| Operating profit (loss)9901 | €1,233 | €108,808 | €9,905 | €96,736 | -€9,339 | ▼ 110% |
| Financial income75/76B | €529 | €1,000 | €195 | €562 | €126 | ▼ 77.7% |
| Recurring financial income75 | €144 | €1,000 | €195 | €562 | €126 | ▼ 77.7% |
| Non-recurring financial income76B | €385 | - | - | - | - | - |
| Financial charges65/66B | €1,704 | €2,121 | €1,737 | €2,453 | €2,018 | ▼ 17.7% |
| Recurring financial charges65 | €1,704 | €2,121 | €1,737 | €2,453 | €2,018 | ▼ 17.7% |
| Profit (loss) for the period before taxes9903 | €59 | €107,687 | €8,362 | €94,845 | -€11,231 | ▼ 112% |
| Profit (loss) for the period9904 | €59 | €107,687 | €8,362 | €94,845 | -€11,231 | ▼ 112% |
| Profit (loss) for the period to be appropriated9905 | €59 | €107,687 | €8,362 | €94,845 | -€11,231 | ▼ 112% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €412,392 | €494,924 | €377,187 | €469,549 | €471,392 | ▲ 0.4% |
| Fixed assets21/28 | €45,600 | €34,596 | €19,396 | €11,835 | €14,230 | ▲ 20.2% |
| Intangible fixed assets21 | €8,177 | €4,089 | - | - | - | - |
| Tangible fixed assets22/27 | €34,398 | €27,432 | €16,321 | €8,760 | €14,180 | ▲ 61.9% |
| Plant, machinery and equipment23 | €33,585 | €26,822 | €15,915 | €8,557 | €14,180 | ▲ 65.7% |
| Leasing and similar rights25 | €813 | €609 | €406 | €203 | - | - |
| Financial fixed assets28 | €3,025 | €3,075 | €3,075 | €3,075 | €50 | ▼ 98.4% |
| Current assets29/58 | €366,791 | €460,328 | €357,790 | €457,714 | €457,162 | ▼ 0.1% |
| Amounts receivable after more than one year29 | €4,868 | €4,868 | €4,868 | €4,916 | €4,945 | ▲ 0.6% |
| Other amounts receivable291 | €4,868 | €4,868 | €4,868 | €4,916 | €4,945 | ▲ 0.6% |
| Amounts receivable within one year40/41 | €130,971 | €279,940 | €145,778 | €104,971 | €105,668 | ▲ 0.7% |
| Trade receivables40 | €6,614 | €1,719 | €7,315 | €5,495 | €8,635 | ▲ 57.1% |
| Other amounts receivable41 | €124,357 | €278,222 | €138,463 | €99,476 | €97,032 | ▼ 2.5% |
| Cash at bank and in hand54/58 | €218,799 | €158,379 | €196,240 | €340,865 | €335,439 | ▼ 1.6% |
| Deferred charges and accrued income490/1 | €12,154 | €17,141 | €10,905 | €6,961 | €11,110 | ▲ 59.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €412,392 | €494,924 | €377,187 | €469,549 | €471,392 | ▲ 0.4% |
| Equity10/15 | €163,965 | €271,652 | €280,014 | €374,858 | €363,627 | ▼ 3.0% |
| Reserves13 | €163,965 | €135,671 | €135,671 | €135,671 | €135,671 | = |
| Profit (loss) carried forward14 | - | €135,981 | €144,343 | €239,188 | €227,956 | ▼ 4.7% |
| Provisions and deferred taxes16 | €3,025 | €3,025 | - | - | - | - |
| Provisions for liabilities and charges160/5 | €3,025 | €3,025 | - | - | - | - |
| Taxes161 | €3,025 | €3,025 | - | - | - | - |
| Amounts payable17/49 | €245,402 | €220,247 | €97,173 | €94,691 | €107,764 | ▲ 13.8% |
| Amounts payable after more than one year17 | €25,855 | €20,221 | €14,524 | €8,763 | €2,937 | ▼ 66.5% |
| Financial debts170/4 | €25,855 | €20,221 | €14,524 | €8,763 | €2,937 | ▼ 66.5% |
| Amounts payable within one year42/48 | €102,047 | €105,026 | €72,649 | €85,460 | €92,827 | ▲ 8.6% |
| Current portion of amounts payable after more than one year42 | €5,572 | €5,634 | €5,634 | €5,761 | €5,826 | ▲ 1.1% |
| Financial debts43 | - | €110 | - | - | €2,619 | - |
| Credit institutions430/8 | - | €110 | - | - | €2,619 | - |
| Trade debts44 | €40,969 | €23,086 | €8,944 | €30,492 | €21,212 | ▼ 30.4% |
| Suppliers440/4 | €40,969 | €23,086 | €8,944 | €30,492 | €21,212 | ▼ 30.4% |
| Taxes, remuneration and social security45 | €55,359 | €76,195 | €58,071 | €49,207 | €63,170 | ▲ 28.4% |
| Taxes450/3 | €15,718 | €17,541 | €78 | €276 | €7,175 | ▲ 2,503% |
| Remuneration and social security454/9 | €39,640 | €58,654 | €57,993 | €48,931 | €55,995 | ▲ 14.4% |
| Accrued charges and deferred income492/3 | €117,500 | €95,000 | €10,000 | €467 | €12,000 | ▲ 2,467% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €59 | €107,687 | €8,362 | €94,845 | -€11,231 | ▼ 112% |
| + Depreciation and write-downs630 | €18,571 | €18,597 | €17,000 | €11,878 | €5,429 | ▼ 54.3% |
| Operating cash flow (approximation) | €18,630 | €126,284 | €25,362 | €106,722 | -€5,802 | ▼ 105% |
| Investment in fixed assets (approximation) | - | -€7,592 | -€1,801 | -€4,317 | -€7,823 | ▼ 81.2% |
| Change in cash | - | -€60,420 | €37,861 | €144,625 | -€5,426 | ▼ 104% |
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
29-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
18-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
29-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 60 days late
2022
31-12
Financial
Highest result since 2018net €107,687 ▲183,384%
Operating result €108,808, net result €107,687, both a record.
31-12
Financial
Equity above €200,000Eq €271,652 ▲65.7%
4 profitable years in a row build equity to €271,652.
30-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 31 days late
2020
31-12
Financial
Equity above €150,000Eq €163,906 ▲56.2%
2 profitable years in a row build equity to €163,906.
22-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 83 days late
2019
31-12
Financial
Back to profitnet €29,247
Net result €29,247 after one loss-making year.
31-12
Financial
Equity above €100,000Eq €104,918 ▲38.6%
Equity rises from €75,671 to €104,918.
Show earlier events
17-09
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 48 days late
2018
27-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-07
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Brussel · 1 establishment unit since 2006
Ground area
569 m²
Building footprint
379 m²
Volume, LiDAR
3,773 m³
Parcel 21812N1416/00C000, Brussels · tallest building 17.1 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
ARGOS
since 20062.157.666.812
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21812N1416/00C000 | Brussels | 569 m² | 1 · 379 m² | 17.1 m · 3 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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 10 entries · 2,831,348 EUR awarded · 2,762,982 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 722,791 EUR | 718,154 EUR |
| 2024 | 2 | 711,895 EUR | 707,424 EUR |
| 2023 | 4 | 705,509 EUR | 742,579 EUR |
| 2022 | 2 | 691,153 EUR | 594,825 EUR |
Schemes
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Of 2,277 companies in sector 90202 we hold annual accounts for 414. 273 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formNon-profit association
Founded18-07-1985
Fiscal year end31-12
Activities, NACEBEL 2025
90202Performing arts by artistic ensembles
90393Specialised image, lighting and sound technical services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0431119765
Also
9925:BE0431119765
Registered
23-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.