Summary
ARJEL 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 €540,072 and a net result of -€1,541. Equity is growing by ~5.3% per year across the filed fiscal years. Its solvency ranks better than 41% of 5565 sector peers (fiscal year 2025). The company has been active since 2019 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 · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 6 filingsDeviation from the deadline
2025
31 d late
2024
29 d late
2023
394 d late
2022
30 d late
2021
31 d late
2020
24 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 82 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.
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
€540,072▲ 976%
2024 · €50,170
Net result
-€1,541▲ 28.1%
2024 · -€2,144
Total assets
€1.3m▲ 60.6%
2024 · €809,113
Solvency
41.6%▲ 35.4pp
2024 · 6.2%
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€23,268▼ 41.4%-€2,503-€516▲ 79.4%-€915▼ 77.3%-€1,227▼ 34.1%
Net result€14,611within the sector's middle half▼ 39.7%-€11,753below the sector's middle half€4,145within the sector's middle half-€2,144below the sector's middle half-€1,541below the sector's middle half▲ 28.1%
Equity€58,842below the sector's middle half▲ 33.0%€48,169below the sector's middle half▼ 18.1%€52,314within the sector's middle half▲ 8.6%€50,170within the sector's middle half▼ 4.1%€540,072within the sector's middle half▲ 976%
Total assets€813,833within the sector's middle half=€809,674within the sector's middle half▼ 0.5%€813,220within the sector's middle half▲ 0.4%€809,113within the sector's middle half▼ 0.5%€1.3mwithin the sector's middle half▲ 60.6%
Debt€754,991▼ 1.9%€761,505▲ 0.9%€760,906▼ 0.1%€758,943▼ 0.3%€759,396▲ 0.1%
Working capital-€649,386▼ 1.6%-€685,105▼ 5.5%-€706,339▼ 3.1%-€734,198▼ 3.9%-€757,428▼ 3.2%
Solvency7.2%below the sector's middle half▲ 1.8pp5.9%below the sector's middle half▼ 1.3pp6.4%below the sector's middle half▲ 0.5pp6.2%below the sector's middle half▼ 0.2pp41.6%within the sector's middle half▲ 35.4pp
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.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1,227 in 2025 against €915 in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.3m
Fixed assets
€1.3m ▲ 61.0%
Current assets
€1,967 ▼ 35.6%
Equity and liabilities €1.3m
Equity
€540,072 ▲ 976%
Debt
€759,396 ▲ 0.1%
Debt's share of the balance-sheet total falls from 93.8% to 58.4%. Equity and debt are higher.
Key figures and ratios
ROE
-0.3%▲
2024 · -4.3%
ROA
-0.1%▲
2024 · -0.3%
Debt ≤ 1 year
€759,396▲
2024 · €737,254
Staff costs
€400▼
2024 · €775
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 |
|---|---|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | - | €1,293 | - | - | - | - |
| Remuneration, social security and pensions62 | - | €868 | €384 | €775 | €400 | ▼ 48.4% |
| Other operating charges640/8 | €468 | €343 | €132 | €141 | €828 | ▲ 489% |
| Gross operating margin9900 | €23,735 | -€1,293 | €0 | €0 | - | - |
| Operating profit (loss)9901 | €23,268 | -€2,503 | -€516 | -€915 | -€1,227 | ▼ 34.1% |
| Financial income75/76B | €0 | - | €12 | - | - | - |
| Recurring financial income75 | €0 | - | €12 | - | - | - |
| Financial charges65/66B | €2,111 | €1,851 | €1,670 | €1,229 | €314 | ▼ 74.4% |
| Recurring financial charges65 | €2,111 | €1,851 | €1,670 | €1,229 | €314 | ▼ 74.4% |
| Profit (loss) for the period before taxes9903 | €21,157 | -€4,354 | -€2,174 | -€2,144 | -€1,541 | ▲ 28.1% |
| Income taxes67/77 | €6,547 | €7,399 | -€6,319 | - | - | - |
| Profit (loss) for the period9904 | €14,611 | -€11,753 | €4,145 | -€2,144 | -€1,541 | ▲ 28.1% |
| Profit (loss) for the period to be appropriated9905 | €14,611 | -€11,753 | €4,145 | -€2,144 | -€1,541 | ▲ 28.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €813,833 | €809,674 | €813,220 | €809,113 | €1.3m | ▲ 60.6% |
| Formation expenses20 | - | €0 | €0 | - | - | - |
| Fixed assets21/28 | €806,057 | €806,057 | €806,057 | €806,057 | €1.3m | ▲ 61.0% |
| Financial fixed assets28 | €806,057 | €806,057 | €806,057 | €806,057 | €1.3m | ▲ 61.0% |
| Current assets29/58 | €7,777 | €3,617 | €7,163 | €3,056 | €1,967 | ▼ 35.6% |
| Amounts receivable within one year40/41 | €1,084 | €306 | €0 | - | - | - |
| Trade receivables40 | €232 | €0 | - | - | - | - |
| Other amounts receivable41 | €852 | €306 | €0 | - | - | - |
| Cash at bank and in hand54/58 | €6,693 | €3,292 | €7,143 | €2,993 | €1,877 | ▼ 37.3% |
| Deferred charges and accrued income490/1 | - | €20 | €20 | €63 | €91 | ▲ 44.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €813,833 | €809,674 | €813,220 | €809,113 | €1.3m | ▲ 60.6% |
| Equity10/15 | €58,842 | €48,169 | €52,314 | €50,170 | €540,072 | ▲ 976% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Outside capital11 | - | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Other1109/19 | - | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Revaluation surpluses12 | - | - | - | - | €491,443 | - |
| Reserves13 | €14,611 | €15,690 | €15,690 | €15,690 | €15,690 | = |
| Distributable reserves133 | €14,611 | €15,690 | €15,690 | €15,690 | €15,690 | = |
| Profit (loss) carried forward14 | €24,232 | €12,479 | €16,624 | €14,480 | €12,938 | ▼ 10.6% |
| Amounts payable17/49 | €754,991 | €761,505 | €760,906 | €758,943 | €759,396 | ▲ 0.1% |
| Amounts payable after more than one year17 | €97,829 | €72,783 | €47,404 | €21,689 | - | - |
| Financial debts170/4 | €97,829 | €72,783 | €47,404 | €21,689 | - | - |
| Amounts payable within one year42/48 | €657,162 | €688,723 | €713,502 | €737,254 | €759,396 | ▲ 3.0% |
| Current portion of amounts payable after more than one year42 | €24,719 | €25,046 | €25,378 | €25,715 | - | - |
| Trade debts44 | - | €7,065 | €433 | €1,348 | €2,178 | ▲ 61.6% |
| Suppliers440/4 | - | €7,065 | €433 | €1,348 | €2,178 | ▲ 61.6% |
| Taxes, remuneration and social security45 | €10,226 | €6,319 | €0 | - | - | - |
| Taxes450/3 | €10,226 | €6,319 | €0 | - | - | - |
| Other amounts payable47/48 | €622,218 | €650,292 | €687,691 | €710,191 | €757,218 | ▲ 6.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,611 | -€11,753 | €4,145 | -€2,144 | -€1,541 | ▲ 28.1% |
| Operating cash flow (approximation) | €14,611 | -€11,753 | €4,145 | -€2,144 | -€1,541 | ▲ 28.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€491,443 | - |
| Change in cash | - | -€3,402 | €3,851 | -€4,150 | -€1,116 | ▲ 73.1% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
2025
31-12
Financial
Equity above €500,000Eq €540,072 ▲976%
Equity rises from €50,170 to €540,072.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 394 days late
2023
31-12
Financial
Back to profitnet €4,145
Net result €4,145 after one loss-making year.
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 30 days late
2022
31-12
Financial
Weakest financial yearnet -€11,753
Net result drops to -€11,753, the lowest in the series; recovery starts the following year.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2021
07-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Aalst · 1 establishment unit since 2019
Ground area
45 m²
Building footprint
45 m²
Volume, LiDAR
455 m³
Parcel 41302C0549/00T011, Flanders · tallest building 12.1 m, ±3 floors. Linked by address, not a title deed.
12
companies at this address
See who is registered here
1 establishment unit
ARJEL
since 20192.293.682.091
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 41302C0549/00T011 | Flanders | 45 m² | 1 · 45 m² | 12.1 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.
Structure & network
Owners and holdings
1 owner · 1 holdingOwners 1
-
100%
Holdings 1
-
100%
According to the 2021 annual accounts of ARJEL 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
No current directors or connected companies found in the register.
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,773. 13,580 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
Founded19-09-2019
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
70200Business and other management consultancy
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
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Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.