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ARJEMO

Active
Public limited companyfounded 200719 yrs activeAvenue Maurice-Destenay 13, 4000 Liège, BelgiumKBO/BCE: BE 0887.233.957
Summary

The computed 12-month bankruptcy probability of ARJEMO is 3.7% (moderate). The 2024 annual accounts show negative equity (-€10.8m) and a net result of -€667,942. Equity is shrinking by ~58.1% per year across the filed fiscal years. Its solvency ranks better than 5% of 724 sector peers (fiscal year 2024). The company has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals.

Checked score

Score 2024
Axes · tick = 2023
Profitability7▲+7
Solvency0=
Growth22=
Track record100
Bankruptcy probability, 12 months
3.7% Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.13 against 0.22 in 2023; short-term debt: 768.4% and cash: 18.5% of total assets), and equity is negative.
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Signals

Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Multiple establishment units
Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.
KBO · establishment units
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 2024
Solvency, return and age of the figures
Solvency
-715.2%
Return on assets
-44.3%
Age of the figures
21 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 52
Relative position
BE, all sectors
reference
Warehousing and support activities for transportation (NACE 52)
about 72% more 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 date
Age against the risk zone
highest failure risk from 2 to 8 years 19 years 0 20 y
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024
Equity per financial year
181920222324
2018 to 2024 · latest year -€10.8m
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 11-06-2025, 50 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
not confirmed
2024
50 d early
2023
55 d early
2022
62 d early
2021
37 d early
2020
46 d early
2019
8 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 43 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 36% of the sector filed late.

Checked, nothing found (1)
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

On 14 February 2007, ARJEMO was incorporated.1 Since 2007 the registered office has moved 4 times, most recently to Liege in 2020.23 The capital was increased 2 times between 2010 and 2014, most recently to EUR 14 million.45 Of the 7 current board members, Sébastien DURIEUX has served longest, since 2022.6 Revenue went from EUR 15 million in 2018 to EUR 6.8 million in 2024 and headcount from 173 to 109 full-time equivalents.7

  1. 1Crossroads Bank for Enterprises
  2. 2Belgian State Gazette, 01-10-2007
  3. 3Belgian State Gazette, 09-11-2020
  4. 4Belgian State Gazette, 01-04-2010
  5. 5Belgian State Gazette, 15-05-2014
  6. 6Belgian State Gazette, 08-11-2022
  7. 7National Bank, annual accounts 2018 and 2024

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Financials · fiscal year 2024, full schema

Turnover
€6.8m▲ 23.0%
2023 · €5.5m
EBIT margin
0.2%▲ 117.0pp
2023 · -116.7%
Net result
-€667,942▲ 90.0%
2023 · -€6.7m
Working capital
-€10.1m▼ 62.9%
2023 · -€6.2m
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
Line20202021202220232024
Turnover€9.6m▼ 36.7%€5.3m€5.5m▲ 3.8%€6.8m▲ 23.0%
Operating result-€1.4m-€4.6m-€6.4m▼ 38.7%€16,778
Net result-€1.4m-€4.7m-€6.7m▼ 43.7%-€667,942▲ 90.0%
EBIT margin-14.3%▼ 23.8pp-87.3%-116.7%▼ 29.4pp0.2%▲ 117.0pp
Equity€3.8m▼ 26.6%-€3.4m-€10.1m▼ 197%-€10.8m▼ 6.6%
Total assets€8.2m▼ 47.2%€4.9m▼ 40.0%€2.5m▼ 48.9%€1.7m▼ 31.9%€1.5m▼ 12.1%
Debt€4.4m▼ 57.4%€5.9m€7.9m▲ 33.2%€12.1m▲ 53.8%
Working capital€3.8m▼ 27.2%-€3.4m-€6.2m▼ 80.9%-€10.1m▼ 62.9%
Staff (FTE)213.2▲ 5.5%165.8153.7▼ 7.3%109.3▼ 28.9%
Result per fiscal year
Operating resultNet result
-€8.0m-€6.0m-€4.0m-€2.0m€0Operating result 2020: -€1.4m-€1.4mNet result 2020: -€1.4m-€1.4mOperating result 2022: -€4.6m-€4.6mNet result 2022: -€4.7m-€4.7mOperating result 2023: -€6.4m-€6.4mNet result 2023: -€6.7m-€6.7mOperating result 2024: €16,778€16,778Net result 2024: -€667,942-€667,94220202021202220232024-€8m-€6m-€4m-€2m€0Operating result 2022: -€4.6m-€4.6mNet result 2022: -€4.7m-€4.7mOperating result 2023: -€6.4m-€6.4mNet result 2023: -€6.7m-€6.7mOperating result 2024: €16,778€16,800Net result 2024: -€667,942-€668,000202220232024
The operating result returns to profit in 2024: €16,778 after a loss of €6.4m in 2023, the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.5m
Fixed assets €6,191 ▼ 22.4%
Current assets €1.5m ▼ 12.0%
Key figures and ratios
2024 value · change against 2023
EBITDA
€18,567▲
2023 · -€6.4m
Cash flow
-€666,152▲
2023 · -€6.7m
Solvency
-715.2%▼
2023 · -589.8%
Current ratio
0.13▼
2023 · 0.22
Debt to equity
-1.13▼
2023 · -0.78
ROA
-44.3%▲
2023 · -390.9%
Interest coverage
0.03▲
2023 · -21.91
Debt ≤ 1 year
€11.6m▲
2023 · €7.9m
Income taxes
€707▲
2023 · €693
Staff costs
€10.1m▲
2023 · €7.8m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 251 companies that looked in July 2024 the way this one looks now, 5.2% went bankrupt within 24 months and 84% are still going.

  • Medium-sized
  • negative equity
  • a loss of 10% of the balance sheet or more
  • without age
5.2% went bankrupt
6.8% stopped otherwise
84% still going

A further 3.6% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 3.7% 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%.

The companies in ten equal groups, from lowest to highest expected share.
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 251 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
Filed annual accounts As filed with the NBB · 2024 against 2023 · 65 lines
Balance sheet Code20232024
Assets
Total assets20/58€1.7m€1.5m▼
Fixed assets21/28€7,980€6,191▼
Tangible fixed assets22/27€7,880€6,091▼
Plant, machinery and equipment23€7,880€6,091▼
Furniture and vehicles24-€0
Financial fixed assets28€100€100=
Other financial fixed assets284/8€100€100=
Amounts receivable and cash guarantees285/8€100€100=
Current assets29/58€1.7m€1.5m▼
Amounts receivable within one year40/41€958,240€1.2m▲
Trade receivables40€958,240€1.2m▲
Other amounts receivable41-€1,730
Cash at bank and in hand54/58€748,108€279,007▼
Deferred charges and accrued income490/1-€1,009
Equity and liabilities
Total equity and liabilities10/49€1.7m€1.5m▼
Equity10/15-€10.1m-€10.8m▼
Contributions10/11€4.6m€4.6m=
Capital10€4.6m€4.6m=
Issued capital100€4.6m€4.6m=
Reserves13€300,609€300,609=
Non-distributable reserves130/1€300,609€300,609=
Legal reserve130€300,609€300,609=
Profit (loss) carried forward14-€15.1m-€15.7m▼
Provisions and deferred taxes16€3.9m€143,728▼
Provisions for liabilities and charges160/5€3.9m€143,728▼
Other liabilities and charges164/5€3.9m€143,728▼
Amounts payable17/49€7.9m€12.1m▲
Amounts payable within one year42/48€7.9m€11.6m▲
Financial debts43€5.0m€9.0m▲
Other loans439€5.0m€9.0m▲
Trade debts44€157,243€482,436▲
Suppliers440/4€157,243€482,436▲
Taxes, remuneration and social security45€2.6m€2.0m▼
Taxes450/3€110,646€123,573▲
Remuneration and social security454/9€2.5m€1.9m▼
Other amounts payable47/48€100,664€117,165▲
Accrued charges and deferred income492/3€1,280€562,454▲
Income statement Code20232024
Operating income70/76A€6.0m€7.3m▲
Turnover70€5.5m€6.8m▲
Other operating income74€460,340€539,817▲
Operating charges60/66A€12.4m€7.3m▼
Goods for resale, raw materials and consumables60€67,173€24,003▼
Purchases600/8€67,173€24,003▼
Services and other goods61€616,175€695,953▲
Remuneration, social security and pensions62€7.8m€10.1m▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€7,584€1,790▼
Provisions for liabilities and charges: additions (uses and reversals)635/8€3.9m-€3.8m▼
Other operating charges640/8€552€270,823▲
Operating profit (loss)9901-€6.4m€16,778▲
Financial income75/76B€22,971€15,952▼
Recurring financial income75€22,971€15,952▼
Income from current assets751€22,856€15,952▼
Other financial income752/9€115-
Financial charges65/66B€294,420€699,965▲
Recurring financial charges65€294,420€699,965▲
Debt charges650€293,165€698,484▲
Other financial charges652/9€1,255€1,481▲
Profit (loss) for the period before taxes9903-€6.7m-€667,234▲
Income taxes67/77€693€707▲
Taxes670/3€693€707▲
Profit (loss) for the period9904-€6.7m-€667,942▲
Profit (loss) for the period to be appropriated9905-€6.7m-€667,942▲
Appropriation of the result
Profit (loss) to be appropriated9906-€15.1m-€15.7m▼
Profit (loss) brought forward from the previous period14P-€8.4m-€15.1m▼
Social balance
Average headcount (FTE)9087153.7109.3▼

The notes to these accounts (48 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20202021202220232024Change
Operating income70/76A--€5.8m€6.0m€7.3m▲ 22.6%
Turnover70€9.6m-€5.3m€5.5m€6.8m▲ 23.0%
Other operating income74--€457,705€460,340€539,817▲ 17.3%
Operating charges60/66A--€10.4m€12.4m€7.3m▼ 41.1%
Goods for resale, raw materials and consumables60--€91,062€67,173€24,003▼ 64.3%
Purchases600/8--€91,062€67,173€24,003▼ 64.3%
Services and other goods61--€801,285€616,175€695,953▲ 12.9%
Remuneration, social security and pensions62--€7.7m€7.8m€10.1m▲ 29.8%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6,506-€14,089€7,584€1,790▼ 76.4%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4--€725,622---
Provisions for liabilities and charges: additions (uses and reversals)635/8---€210,000€3.9m-€3.8m▼ 196%
Other operating charges640/8--€1.3m€552€270,823▲ 48,953%
Operating profit (loss)9901-€1.4m--€4.6m-€6.4m€16,778▲ 100%
Financial income75/76B--€8,949€22,971€15,952▼ 30.6%
Recurring financial income75€8,004-€8,949€22,971€15,952▼ 30.6%
Income from current assets751--€8,941€22,856€15,952▼ 30.2%
Other financial income752/9--€7€115--
Financial charges65/66B--€35,366€294,420€699,965▲ 138%
Recurring financial charges65€1,388-€35,366€294,420€699,965▲ 138%
Debt charges650--€34,314€293,165€698,484▲ 138%
Other financial charges652/9--€1,052€1,255€1,481▲ 18.0%
Profit (loss) for the period before taxes9903-€1.4m--€4.7m-€6.7m-€667,234▲ 90.0%
Income taxes67/77€2,115-€1,417€693€707▲ 2.1%
Taxes670/3--€1,417€693€707▲ 2.1%
Profit (loss) for the period9904-€1.4m--€4.7m-€6.7m-€667,942▲ 90.0%
Profit (loss) for the period to be appropriated9905-€1.4m--€4.7m-€6.7m-€667,942▲ 90.0%
Line20202021202220232024Change
Assets
Total assets20/58€8.2m€4.9m€2.5m€1.7m€1.5m▼ 12.1%
Fixed assets21/28€27,503-€9,809€7,980€6,191▼ 22.4%
Tangible fixed assets22/27€27,503-€9,684€7,880€6,091▼ 22.7%
Plant, machinery and equipment23--€4,854€7,880€6,091▼ 22.7%
Furniture and vehicles24--€4,831-€0-
Financial fixed assets28--€125€100€100=
Other financial fixed assets284/8--€125€100€100=
Amounts receivable and cash guarantees285/8--€125€100€100=
Current assets29/58€8.2m-€2.5m€1.7m€1.5m▼ 12.0%
Amounts receivable within one year40/41€1.9m-€999,586€958,240€1.2m▲ 27.4%
Trade receivables40--€821,305€958,240€1.2m▲ 27.2%
Other amounts receivable41--€178,281-€1,730-
Cash at bank and in hand54/58€6.2m-€1.5m€748,108€279,007▼ 62.7%
Deferred charges and accrued income490/1--€0-€1,009-
Equity and liabilities
Total equity and liabilities10/49€8.2m€4.9m€2.5m€1.7m€1.5m▼ 12.1%
Equity10/15€3.8m--€3.4m-€10.1m-€10.8m▼ 6.6%
Contributions10/11€4.6m-€4.6m€4.6m€4.6m=
Capital10--€4.6m€4.6m€4.6m=
Issued capital100--€4.6m€4.6m€4.6m=
Reserves13€300,609-€300,609€300,609€300,609=
Non-distributable reserves130/1--€300,609€300,609€300,609=
Legal reserve130--€300,609€300,609€300,609=
Profit (loss) carried forward14-€1.2m--€8.4m-€15.1m-€15.7m▼ 4.4%
Provisions and deferred taxes16--€0€3.9m€143,728▼ 96.3%
Provisions for liabilities and charges160/5--€0€3.9m€143,728▼ 96.3%
Taxes161--€0---
Other liabilities and charges164/5---€3.9m€143,728▼ 96.3%
Amounts payable17/49€4.4m-€5.9m€7.9m€12.1m▲ 53.8%
Amounts payable after more than one year17--€0---
Financial debts170/4--€0---
Other loans174--€0---
Amounts payable within one year42/48€4.4m-€5.9m€7.9m€11.6m▲ 46.7%
Financial debts43--€3.0m€5.0m€9.0m▲ 80.0%
Other loans439--€3.0m€5.0m€9.0m▲ 80.0%
Trade debts44€183,864-€625,830€157,243€482,436▲ 207%
Suppliers440/4--€625,830€157,243€482,436▲ 207%
Taxes, remuneration and social security45--€2.2m€2.6m€2.0m▼ 24.8%
Taxes450/3--€55,939€110,646€123,573▲ 11.7%
Remuneration and social security454/9--€2.2m€2.5m€1.9m▼ 26.4%
Other amounts payable47/48--€93,329€100,664€117,165▲ 16.4%
Accrued charges and deferred income492/3---€1,280€562,454▲ 43,858%
Line20202021202220232024Change
Profit (loss) for the period9904-€1.4m--€4.7m-€6.7m-€667,942▲ 90.0%
+ Depreciation and write-downs630€6,506-€14,089€7,584€1,790▼ 76.4%
Operating cash flow (approximation)-€1.4m--€4.6m-€6.7m-€666,152▲ 90.0%
Investment in fixed assets (approximation)----€5,755€0▲ 100%
Change in cash----€761,322-€469,102▲ 38.4%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

2025
04-12
State Gazette act Reappointments: Sparaxis SA, Arcelormittal Belgium SA and 3 others
Permanent representative: Thomas Meurice7 facts ▸
  • General meeting, 05-06-2025
  • Director reappointment, Sparaxis SA (director)
  • Director reappointment, Arcelormittal Belgium SA (director)
  • Director reappointment, Wallonie Entreprendre SA (director)
  • Director reappointment, Petra Verlodt (director)
  • Auditor reappointment, Ernst & Young Réviseurs d'Entreprises SRL (statutory auditor)
  • Permanent representative, Thomas Meurice
11-06
NBB filing Annual accounts filed
fiscal year 2024 · full schema
17-03
State Gazette act Permanent representatives: Manfred VAN VLIERBERGHE and Frederik VAN DE VELDE
3 facts ▸
  • Board meeting, 14-02-2025
  • Permanent representative, Manfred VAN VLIERBERGHE
  • Permanent representative, Frederik VAN DE VELDE
2024
06-06
NBB filing Annual accounts filed
fiscal year 2023 · full schema
29-05
State Gazette act Appointment: Michael Belaire (directeur général)
Resignation: Johan Debal (daily management delegate)3 facts ▸
  • Board meeting, 22-12-2022
  • Director appointment, Michael Belaire (directeur général)
  • Director resignation, Johan Debal (daily management delegate)
2023
31-12
Financial Weakest financial yearnet -€6.7m
Net result drops to -€6.7m, the lowest in the series; recovery starts the following year.
02-06
State Gazette act Resignation: Florence Vanderthommen (director)
Appointment: SPARAXIS SA (director) · Mandate compensation4 facts ▸
  • General meeting, 03-05-2023
  • Director resignation, Florence Vanderthommen (director)
  • Director appointment, SPARAXIS SA (director)
  • Mandate compensation, SPARAXIS SA
30-05
NBB filing Annual accounts filed
fiscal year 2022 · full schema
09-03
State Gazette act Resignations: Eddy Goeminne, Renaud Witmeur and Dirk De Muynck
Appointments: Dirk De Muynck (director) and Petra Verlodt (director) · Permanent representative: Sébastien Durieux · Mandate compensation11 facts ▸
  • Director resignation, Eddy Goeminne (director)
  • Director appointment, Dirk De Muynck (director)
  • Director resignation, Renaud Witmeur (permanent representative)
  • Permanent representative, Sébastien Durieux
  • Director resignation, Dirk De Muynck (director)
  • Director appointment, Petra Verlodt (director)
  • Mandate compensation, Petra Verlodt
  • Board composition, ArcelorMittal Belgium (director)
  • Board composition, Sogepa (director)
  • Board composition, Florence Vanderthommen (director)
  • Board composition, Petra Verlodt (director)
2022
08-11
State Gazette act Resignations: Dirk Jenaer, Renaud WITMEUR and Deloitte Réviseurs d'Entreprises SRL
Appointments: Johan Debal, Sébastien DURIEUX and Ernst & Young Réviseurs d'Entreprises SRL · Director discharge · Mandate compensation12 facts ▸
  • Board meeting, 01-04-2022
  • Director resignation, Dirk Jenaer (directeur général)
  • Director resignation, Dirk Jenaer (daily management delegate)
  • Director appointment, Johan Debal (directeur général)
  • Director appointment, Johan Debal (daily management delegate)
  • General meeting, 04-05-2022
  • Director resignation, Renaud WITMEUR (director)
  • Director discharge, Renaud WITMEUR
  • Director appointment, Sébastien DURIEUX (director)
  • Mandate compensation, Sébastien DURIEUX
  • Auditor resignation, Deloitte Réviseurs d'Entreprises SRL
  • Auditor appointment, Ernst & Young Réviseurs d'Entreprises SRL
24-06
NBB filing Annual accounts filed
fiscal year 2021 · full schema
2021
15-06
NBB filing Annual accounts filed
fiscal year 2020 · full schema
Show earlier events
2020
09-11
State Gazette act Appointment: Dirk Jenaer (directeur général)
Resignation: P. Bertrand (directeur général) · Reappointment: Deloitte (statutory auditor) · Registered-office move8 facts ▸
  • Board meeting, 28-04-2020
  • Board meeting, 19-11-2019
  • General meeting, 29-06-2020
  • Director appointment, Dirk Jenaer (directeur général)
  • Director resignation, P. Bertrand (directeur général)
  • Director appointment, Dirk Jenaer (day-to-day manager)
  • Registered-office move, Avenue Maurice Destenay 13, 6ème étage salle 6.19 à 4000 LIEGE
  • Auditor reappointment, Deloitte
23-07
NBB filing Annual accounts filed
fiscal year 2019 · full schema
2019
31-12
Financial Highest result since 2018net €1.4m ▲279%
Operating result €1.4m, net result €1.4m, both a record.
11-10
State Gazette act Reappointments: ArcelorMittal Belgium, Sogepa and 2 others
Mandate compensation7 facts ▸
  • General meeting, 02-05-2019
  • Director reappointment, ArcelorMittal Belgium (director)
  • Director reappointment, Sogepa (director)
  • Director reappointment, Florence Vanderthommen (director)
  • Director reappointment, Eddy Goeminne (director)
  • Mandate compensation, ArcelorMittal Belgium
  • Mandate compensation, Sogepa
20-05
NBB filing Annual accounts filed
fiscal year 2018 · full schema
2018
25-06
NBB filing Annual accounts filed
fiscal year 2017 · full schema
26-02
State Gazette act Permanent representatives: Manfred Van Vlierberghe and Matthieu Jehl
Resignation: Nele Desplenter (director) · Appointments: Eddy Goemine (director) and ArcelorMittal Belgium (director) · Mandate compensation7 facts ▸
  • Board meeting, 04-12-2017
  • Permanent representative, Manfred Van Vlierberghe
  • Director resignation, Nele Desplenter (director)
  • Director appointment, Eddy Goemine (director)
  • Mandate compensation, Eddy Goemine
  • Permanent representative, Matthieu Jehl
  • Director appointment, ArcelorMittal Belgium (director)
2017
28-07
State Gazette act Appointment: M. Bertrand (directeur opérationnel / délégué à la gestion journalière)
Reappointment: Deloitte (statutory auditor) · Representation condition5 facts ▸
  • Board meeting, 07-12-2016
  • General meeting, 30-06-2017
  • Director appointment, M. Bertrand (directeur opérationnel / délégué à la gestion journalière)
  • Auditor reappointment, Deloitte
  • Representation condition, joint signing with an administrator
06-07
NBB filing Annual accounts filed
fiscal year 2016 · full schema
22-02
State Gazette act Resignation: Philippe Bertrand (director)
Appointment: Nele Desplenter (director) · Permanent representative: Giovanni - Bapttista Zavarella · Mandate compensation6 facts ▸
  • Board meeting, 07-12-2016
  • Director resignation, Philippe Bertrand (director)
  • Director appointment, Nele Desplenter (director)
  • Mandate compensation, Nele Desplenter
  • Permanent representative, Giovanni - Bapttista Zavarella
  • Accounting effect, 01-01-2016
2016
06-06
State Gazette act Reappointments: ArcelorMittal Belgium, Sogepa and 2 others
Mandate compensation7 facts ▸
  • General meeting, 04-05-2016
  • Director reappointment, ArcelorMittal Belgium (director)
  • Director reappointment, Sogepa (director)
  • Director reappointment, Florence Vanderthommen (director)
  • Director reappointment, Philippe Bertrand (director)
  • Mandate compensation, Florence Vanderthommen
  • Mandate compensation, Philippe Bertrand
19-05
NBB filing Annual accounts filed
fiscal year 2015 · full schema
20-04
State Gazette act Resignations: Renaud Witmeur (director) and Matthieu Jehl (director)
Appointments: ArcelorMittal Belgium S.A. (director) and SOGEPA S.A. (director) · Mandate compensation9 facts ▸
  • General meeting, 17/03/2016
  • Director resignation, Renaud Witmeur (director)
  • Director resignation, Matthieu Jehl (director)
  • Director appointment, ArcelorMittal Belgium S.A. (director)
  • Director appointment, SOGEPA S.A. (director)
  • Mandate compensation, ArcelorMittal Belgium S.A.
  • Mandate compensation, SOGEPA S.A.
  • Board composition, Philippe BERTRAND (director)
  • Board composition, Floremu VANDERTHOMREN (director)
04-02
State Gazette act Resignations: Wim Van Gerven (director) and Bernard Dehut (director)
Appointments: Matthieu Jehl (director) and Philippe Bertrand (director) · Mandate compensation9 facts ▸
  • General meeting, 13-01-2016
  • Director resignation, Wim Van Gerven (director)
  • Director resignation, Bernard Dehut (director)
  • Director appointment, Matthieu Jehl (director)
  • Director appointment, Philippe Bertrand (director)
  • Mandate compensation, Matthieu Jehl
  • Mandate compensation, Philippe Bertrand
  • Board composition, Philippe Bertrand (director)
  • Board composition, Florence Vandertommen (director)
2014
13-08
State Gazette act Reappointment: Deloitte (statutory auditor)
2 facts ▸
  • General meeting, 07-05-2014
  • Auditor reappointment, Deloitte
15-05
State Gazette act Capital & shares · Statutes amendment
Capital increase · Capital decrease · Capital7 facts ▸
  • General meeting, 30-04-2014
  • Capital increase, €2.000.000
  • Capital decrease, €9.557.930,64
  • Capital, €4.642.069,36
  • Statutes amendment
  • Power of attorney, ARJEMO
  • Share subscription, séance tenante en espèces et entièrement libérées
02-05
State Gazette act Registered office
Registered-office move2 facts ▸
  • Board meeting, 31-03-2014
  • Registered-office move, Boulevard d'Avroy, 38 à 4000 Liège
22-04
State Gazette act Resignations: Jacques Pélerin, Roland Wynants and SOGEPA
Appointments: Wim Van Gerven, Bernard Dehut and 2 others · Mandate compensation12 facts ▸
  • General meeting, 14-03-2014
  • Director resignation, Jacques Pélerin (director)
  • Director resignation, Roland Wynants (director)
  • Director resignation, SOGEPA (director)
  • Director appointment, Wim Van Gerven (director)
  • Director appointment, Bernard Dehut (director)
  • Director appointment, Renaud Witmeur (director)
  • Director appointment, Florence Vanderthommen (director)
  • Mandate compensation, Wim Van Gerven
  • Mandate compensation, Bernard Dehut
  • Mandate compensation, Renaud Witmeur
  • Mandate compensation, Florence Vanderthommen
04-03
State Gazette act Permanent representative: Julie DELFORGE
Accounting effect3 facts ▸
  • Permanent representative, Julie DELFORGE
  • Accounting effect, 01-01-2013
  • Accounting effect, 31-12-2013
2013
02-08
State Gazette act Appointment: Roland Wynants (director)
Mandate compensation3 facts ▸
  • General meeting, 28-06-2013
  • Director appointment, Roland Wynants (director)
  • Mandate compensation, Roland Wynants
2012
03-08
State Gazette act Resignation: Vincent TREVISAN (director)
Reappointments: Jacques PELERIN (director) and SOGEPA (director) · Permanent representative: Jean-Pierre PICQUEREAU · General meeting decision6 facts ▸
  • General meeting, 04-06-2012
  • Director resignation, Vincent TREVISAN (director)
  • General meeting decision, ne pas pourvoir au remplacement
  • Director reappointment, Jacques PELERIN (director)
  • Director reappointment, SOGEPA (director)
  • Permanent representative, Jean-Pierre PICQUEREAU
2011
27-10
State Gazette act Reappointment: Deloitte, réviseurs d'entreprises (statutory auditor)
2 facts ▸
  • General meeting, 24-06-2011
  • Auditor reappointment, Deloitte, réviseurs d'entreprises
2010
01-04
State Gazette act Appointment: SOCIETE WALLONNE DE GESTION ET DE PARTICIPATIONS (director)
Permanent representative: PICQUEREAU Jean-Pierre · Mandate compensation · Registered-office move13 facts ▸
  • General meeting, 04-03-2010
  • Director appointment, SOCIETE WALLONNE DE GESTION ET DE PARTICIPATIONS (director)
  • Permanent representative, PICQUEREAU Jean-Pierre
  • Mandate compensation, SOCIETE WALLONNE DE GESTION ET DE PARTICIPATIONS
  • Registered-office move, 4400 Flémalle, rue du Maréchal Foch, 21
  • Capital increase, €2.800.000
  • Share issue, 2800, 1.000 EUR
  • Bank account, BNP PARIBAS FORTIS
  • Capital, €12.200.000
  • Statutes amendment
  • Statutes amendment
  • Statutes amendment
  • +1 further facts in this act
2008
28-07
State Gazette act Resignation: SOGEPA (director)
Appointment: ELAN CONSULTING (director) · Reappointments: ELAN CONSULTING (director) and KPMG (statutory auditor) · Permanent representatives: Michel DE SAIVE and Christophe HABETS11 facts ▸
  • Board meeting, 27-05-2008
  • General meeting, 27-06-2008
  • Director resignation, SOGEPA (director)
  • Director appointment, ELAN CONSULTING (director)
  • Director reappointment, ELAN CONSULTING (director)
  • Mandate compensation, ELAN CONSULTING
  • Auditor reappointment, KPMG (statutory auditor)
  • Permanent representative, Michel DE SAIVE (permanent representative)
  • Permanent representative, Christophe HABETS
  • Board composition, ELAN CONSULTING (director)
  • Board composition, Jacques PELERIN (director)
2007
01-10
State Gazette act Registered office
Registered-office move2 facts ▸
  • Board meeting, 05-09-2007
  • Registered-office move, rue Trasenster 21 à 4102 Seraing
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
25 of 25 acts read

Directors · office · real estate

Directors
6 directors, 1 in day-to-day management, no change since 2025

Board 6

Sébastien DURIEUX
Director · since 01-04-2022
Current
Petra VERLODT
Director · since 17-11-2022
Current
SPARAXIS
Director · since 03-05-2023 · Public limited company
Current
ArcelorMittal Belgium SA
Director · since 05-06-2025 · Legal entity
Current
Sparaxis SA
Director · since 05-06-2025 · Legal entity
Current
WALLONIE ENTREPRENDRE SA
Director · since 05-06-2025 · Legal entity
Current
7 not recently confirmed
Still in office according to the acts, but no act of the last six years confirms the mandate. It has often ended since, in an act we have not read.
ELAN CONSULTING
Director · since 27-05-2008 · Legal entity
Not recently confirmed
Arcelormittal Belgium
Director · since 13-02-2013 · Legal entity
Not recently confirmed
ArcelorMittal Belgium S.A.
Director · since 20-04-2016 · Legal entity
Not recently confirmed
S.A. SOGEPA
Director · since 20-04-2016 · Legal entity
Not recently confirmed
SOGEPA
Director · since 04-05-2016 · Legal entity · perm. rep.: Jean-Pierre PICQUEREAU
Not recently confirmed
Nele DESPLENTER
Director · since 07-12-2016
Not recently confirmed
Eddy Goemine
Director · since 04-12-2017
Not recently confirmed

Day-to-day management 1

Michael Belaire
Directeur général · since 01-01-2024
Current
1 not recently confirmed
Still in office according to the acts, but no act of the last six years confirms the mandate. It has often ended since, in an act we have not read.
M. Bertrand
Directeur opérationnel / délégué à la gestion journalière · since 07-12-2016
Not recently confirmed

Permanent representatives 1

Jean-Pierre PICQUEREAU
Permanent representative · since 04-05-2016 · for SOGEPA
Not recently confirmed

Statutory auditor 1

Ernst & Young Réviseurs d'Entreprises SRL
Statutory auditor · since 01-01-2022 · perm. rep.: Thomas Meurice
Current

Other functions 1

M. Bertrand
Directeur opérationnel / délégué à la gestion journalière · since 07-12-2016
Not recently confirmed
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 →
Location & real-estate footprint
Registered office, Liège · 7 establishment units since 2014
seat establishment approximate 5 of 7 establishment units on the map
Ground area
10.0 ha
Building footprint
2,828 m²
Volume, LiDAR
73,772 m³
6 parcels, Wallonia · tallest building 43.0 m, ±12 floors. Linked by address, not a title deed.
45 companies at this address See who is registered here
7 establishment units
MARCHIN
Rue Forges 64, 4570 MarchinManufacture of basic metals
since 20142.227.407.535
FLEMALLE RAMIOUL
Chaussée de Ramioul(IVR) 52, 4400 FlémalleManufacture of basic metals
since 20142.227.407.931
FERBLATIL
Rue Ernest-Solvay 533, 4000 LiègeManufacture of basic metals
since 20142.227.408.525
KESSALES
Rue Gustave Baivy SN, 4101 SeraingManufacture of basic metals
since 20142.227.408.921
FLEMALLE RAMET
Rue Sompré SN, 4400 FlémalleManufacture of basic metals
since 20142.227.409.416
FLEMALLE
Quai du Halage(Flh) 10, 4400 FlémalleManufacture of basic metals
since 20142.227.410.802
Show 1 more locations
Rue du Bois St-Jean 29, 4102 Seraing
Warehousing and support activities for transportation
since 20212.323.806.729
6 parcels
Wallonia 6 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
61039A0414/00T000 Wallonia 4.8 ha 1 · 18 m² -
62083B0015/00C000 Wallonia 4.3 ha 1 · 644 m² 6.8 m · 2 fl.
62083B0065/00L000 Wallonia 6,108 m² 1 · 99 m² 18.3 m · 4 fl.
62803A1368/00V000 Wallonia 2,811 m² 1 · 1,999 m² 43.0 m · 12 fl.
62502A0121/00Z003indicative Wallonia 1,042 m² 1 · 21 m² 3.7 m · 1 fl.
62058A0431/00A004 Wallonia 278 m² 1 · 47 m² 11.2 m · 3 fl.
Linked by address, not proof of ownership
Good to know
5 of 6 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Mandate history

34 people since 2008, 16 in office
Show
  • Board
  • Day-to-day management
  • Permanent representative
  • Statutory auditor
  • Other function
  • not recently confirmed
  • began earlier
Mandates per person, with start and end dates
Name Functions and periods
Sébastien DURIEUX
  • Director, from 01-04-2022 to date
Petra VERLODT
  • Director, from 17-11-2022 to date
SPARAXIS
  • Director, from 03-05-2023 to date
ArcelorMittal Belgium SA
  • Director, already before 05-06-2025 to date
Sparaxis SA
  • Director, already before 05-06-2025 to date
WALLONIE ENTREPRENDRE SA
  • Director, already before 05-06-2025 to date
Michael Belaire
  • Directeur général, from 01-01-2024 to date
Ernst & Young Réviseurs d'Entreprises SRL
  • Statutory auditor, from 01-01-2022 to date
ELAN CONSULTING
  • Director, from 27-05-2008 not ended, last confirmed 28-07-2008
SOGEPA
  • Director, until 27-06-2008
  • Director, already before 03-08-2012 not ended, last confirmed 11-10-2019
Arcelormittal Belgium
  • Director, from 13-02-2013 not ended, last confirmed 11-10-2019
Nele DESPLENTER
  • Director, until 13-02-2013
  • Director, from 07-12-2016 not ended, last confirmed 22-02-2017
ArcelorMittal Belgium S.A.
  • Director, from 20-04-2016 not ended, last confirmed 20-04-2016
S.A. SOGEPA
  • Director, from 20-04-2016 not ended, last confirmed 20-04-2016
Eddy Goemine
  • Director, from 04-12-2017 not ended, last confirmed 26-02-2018
M. Bertrand
  • Directeur opérationnel / délégué à la gestion journalière, from 07-12-2016 not ended, last confirmed 28-07-2017
  • Directeur opérationnel / délégué à la gestion journalière, from 07-12-2016 not ended, last confirmed 28-07-2017
Johan Debal
  • Directeur général, from 01-05-2022 to 01-01-2024
Florence Vanderthommen
  • Director, from 14-03-2014 to 20-04-2023
Dirk De Muynck
  • Director, from 01-07-2021 to 17-11-2022
Renaud Witmeur
  • Director, from 14-03-2014 to 20-04-2016
  • Director, until 04-05-2022
Renaud Witmeur
  • Permanent representative, until 01-04-2022
Dirk Jenaer
  • Directeur général, from 29-06-2020 to 01-03-2022
  • Daily management delegate, until 01-03-2022
Deloitte
  • Auditor, from 24-06-2011 to 01-01-2022
Eddy Goeminne
  • Director, already before 11-10-2019 to 01-07-2021
P. Bertrand
  • Directeur général, until 29-06-2020
Philippe Bertrand
  • Director, from 13-01-2016 to 22-02-2017
Matthieu Jehl
  • Director, from 13-01-2016 to 20-04-2016
DEHUT Bernard
  • Director, from 14-03-2014 to 13-01-2016
Wim Van Gerven
  • Director, from 14-03-2014 to 13-01-2016
Jacques PELERIN
  • Director, already before 03-08-2012 to 14-03-2014
Roland WYNANTS
  • Director, from 28-06-2013 to 14-03-2014
SOGEPA
  • Director, until 14-03-2014
Vincent TREVISAN
  • Director, until 04-06-2012
KPMG
  • Statutory auditor, from 27-06-2008 to 24-06-2011
See the board, name and seat on a given date →

Structure & network

Owners and holdings

3 owners

According to the 2024 annual accounts of ARJEMO 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

42 connected companies
Linked via shared directors
Show 38 more companies with a shared director
→
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former→
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former→
former→
ARCEO
Shared director
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CEGIS
Shared director
→
EDUGO Scholengroep
Shared director
→
EKLO
Shared director
→
FVH M
Shared director
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ID CAMPUS ASBL
Shared director
→
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NEB PARTICIPATIONS
Shared director
→
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NeWIN
Shared director
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PHENIX DATA CENTER
Shared director
→
Pôle GREENWIN
Shared director
→
RETRIMEUSE
Shared director
→
TECHNIFUTUR
Shared director
→
Wallonie Data Center
Shared director
→

Capital and shareholders

Capital over the years
  1. 15-05-2014 Capital increase of 2,000,000 EUR · to 14,200,000 EUR · 2,000 new shares
  2. 15-05-2014 Capital reduction of 9,557,930.64 EUR · to 4,642,069.36 EUR · to absorb losses
  3. 01-04-2010 Capital increase of 2,800,000 EUR · to 12,200,000 EUR

Similar companies · same sector, comparable size

Of 3,187 companies in sector 52250 we hold annual accounts for 1,956. 799 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Identification & contact

Identification
Legal formPublic limited company
Founded14-02-2007
Fiscal year end31-12
Activities, NACEBEL 2025
52249Warehousing and support activities for transportation
52250Logistics services
E-invoicing
Reachable via Peppol
Peppol ID 0208:0887233957
Also 9925:BE0887233957
Registered 16-12-2025

Register as of 27 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.