ARMA
ActiveSummary
ARMA has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €371,323 and a net result of €54,873. Equity is growing by ~9.7% per year across the filed fiscal years. Its solvency ranks better than 50% of 9636 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability76▲+3
Solvency64▲+7
Growth78=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25,000 at 30 days acceptable
Liquidity short (current ratio 0.86 against 0.69 in 2023; short-term debt: 27% and cash: 9.4% of total assets), and 61.4% of the assets are financed with debt.
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Signals
Three 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 →
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 10-06-2026, 51 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
51 d early
2024
16 d early
2023
23 d early
2022
14 d early
2021
12 d early
2020
5 d early
2019
87 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 5 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 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 15 July (4 of the last 5 filed years within 30 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 2024, abbreviated schema
Equity
€371,323▲ 17.3%
2023 · €316,450
Total assets
€963,151▼ 2.5%
2023 · €988,351
Net result
€54,873▲ 58.4%
2023 · €34,644
Working capital
-€37,434▲ 50.2%
2023 · -€75,199
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
Line20202021202220232024
Operating result€102,538▲ 293%€38,876▼ 62.1%€39,460▲ 1.5%€73,845▲ 87.1%€106,094▲ 43.7%
Net result€53,606within the sector's middle half€7,644within the sector's middle half▼ 85.7%€7,828within the sector's middle half▲ 2.4%€34,644within the sector's middle half▲ 343%€54,873within the sector's middle half▲ 58.4%
Equity€266,334within the sector's middle half▲ 25.2%€273,978within the sector's middle half▲ 2.9%€281,806within the sector's middle half▲ 2.9%€316,450within the sector's middle half▲ 12.3%€371,323within the sector's middle half▲ 17.3%
Total assets€1.2mwithin the sector's middle half▼ 0.6%€1.2mwithin the sector's middle half▼ 6.7%€1.1mwithin the sector's middle half▼ 7.1%€988,351within the sector's middle half▼ 8.2%€963,151within the sector's middle half▼ 2.5%
Debt€976,302▼ 5.9%€885,578▼ 9.3%€795,002▼ 10.2%€671,901▼ 15.5%€591,828▼ 11.9%
Working capital-€99,643below the sector's middle half▲ 26.6%-€99,523below the sector's middle half▲ 0.1%-€135,861below the sector's middle half▼ 36.5%-€75,199below the sector's middle half▲ 44.7%-€37,434below the sector's middle half▲ 50.2%
Solvency21.4%within the sector's middle half▲ 4.4pp23.6%within the sector's middle half▲ 2.2pp26.2%within the sector's middle half▲ 2.5pp32.0%within the sector's middle half▲ 5.8pp38.6%within the sector's middle half▲ 6.5pp
Current ratio0.68below the sector's middle half▲ 0.150.67below the sector's middle half▼ 0.010.54below the sector's middle half▼ 0.130.69below the sector's middle half▲ 0.150.86below the sector's middle half▲ 0.16
Return on assets (ROA)4.3%within the sector's middle half▲ 4.3pp0.7%below the sector's middle half▼ 3.7pp0.7%within the sector's middle half▲ 0.1pp3.5%within the sector's middle half▲ 2.8pp5.7%within the sector's middle half▲ 2.2pp
Staff (FTE)4.2within the sector's middle half▼ 10.6%4.2within the sector's middle half=5within the sector's middle half▲ 19.0%5within the sector's middle half=3.8within the sector's middle half▼ 24.0%
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.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2021 the operating result has climbed three years in a row; 2024 is 44% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €963,151
Fixed assets
€740,755 ▼ 9.6%
Current assets
€222,396 ▲ 31.9%
Equity and liabilities €963,151
Equity
€371,323 ▲ 17.3%
Debt
€591,828 ▼ 11.9%
Debt's share of the balance-sheet total falls from 68.0% to 61.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€204,443▲
2023 · €173,152
Cash flow
€153,223▲
2023 · €133,951
Quick ratio
0.48▲
2023 · 0.41
Debt to equity
1.59▼
2023 · 2.12
ROE
14.8%▲
2023 · 10.9%
Interest coverage
7.88▲
2023 · 7.07
Debt ≤ 1 year
€259,830▲
2023 · €243,758
Debt > 1 year
€329,822▼
2023 · €426,868
Income taxes
€25,283▲
2023 · €14,730
Staff costs
€123,233▼
2023 · €163,475
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,349 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% 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 497,662 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% | 1.7% |
| 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 75% 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 31,349 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €170,609 | €179,704 | €163,475 | €123,233 | ▼ 24.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €103,285 | €100,707 | €87,762 | €99,307 | €98,350 | ▼ 1.0% |
| Other operating charges640/8 | - | €5,923 | €7,838 | €8,868 | €9,359 | ▲ 5.5% |
| Gross operating margin9900 | €378,371 | €316,116 | €314,763 | €345,495 | €337,035 | ▼ 2.4% |
| Operating profit (loss)9901 | €102,538 | €38,876 | €39,460 | €73,845 | €106,094 | ▲ 43.7% |
| Financial income75/76B | - | €867 | €21 | €5 | €0 | ▼ 99.0% |
| Recurring financial income75 | €2,179 | €867 | €21 | €5 | €0 | ▼ 99.0% |
| Financial charges65/66B | - | €30,509 | €29,286 | €24,476 | €25,937 | ▲ 6.0% |
| Recurring financial charges65 | €28,252 | €30,509 | €29,286 | €24,476 | €25,937 | ▲ 6.0% |
| Profit (loss) for the period before taxes9903 | €76,465 | €9,233 | €10,195 | €49,374 | €80,157 | ▲ 62.3% |
| Income taxes67/77 | €22,859 | €1,589 | €2,366 | €14,730 | €25,283 | ▲ 71.6% |
| Profit (loss) for the period9904 | €53,606 | €7,644 | €7,828 | €34,644 | €54,873 | ▲ 58.4% |
| Profit (loss) for the period to be appropriated9905 | €67,516 | €7,644 | €7,828 | €34,644 | €54,873 | ▲ 58.4% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.2m | €1.2m | €1.1m | €988,351 | €963,151 | ▼ 2.5% |
| Fixed assets21/28 | €1.0m | €955,946 | €919,099 | €819,792 | €740,755 | ▼ 9.6% |
| Tangible fixed assets22/27 | €1.0m | €951,886 | €915,039 | €815,732 | €736,695 | ▼ 9.7% |
| Land and buildings22 | - | €728,726 | €724,378 | €681,593 | €655,893 | ▼ 3.8% |
| Plant, machinery and equipment23 | - | €179,526 | €185,990 | €131,505 | €79,485 | ▼ 39.6% |
| Furniture and vehicles24 | - | €6,946 | €4,672 | €2,634 | €1,317 | ▼ 50.0% |
| Leasing and similar rights25 | - | €36,687 | - | - | - | - |
| Financial fixed assets28 | €2,890 | €4,060 | €4,060 | €4,060 | €4,060 | = |
| Current assets29/58 | €212,269 | €203,610 | €157,708 | €168,559 | €222,396 | ▲ 31.9% |
| Stocks and contracts in progress3 | €58,647 | €66,204 | €61,464 | €67,602 | €98,323 | ▲ 45.4% |
| Stocks30/36 | - | €66,204 | €61,464 | €67,602 | €98,323 | ▲ 45.4% |
| Amounts receivable within one year40/41 | €13,177 | €16,664 | €31,288 | €16,250 | €23,654 | ▲ 45.6% |
| Trade receivables40 | - | €269 | €8,397 | €13,263 | €7,826 | ▼ 41.0% |
| Other amounts receivable41 | - | €16,395 | €22,891 | €2,987 | €15,827 | ▲ 430% |
| Cash at bank and in hand54/58 | €132,696 | €114,142 | €56,699 | €76,963 | €90,882 | ▲ 18.1% |
| Deferred charges and accrued income490/1 | - | €6,600 | €8,257 | €7,744 | €9,538 | ▲ 23.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.2m | €1.2m | €1.1m | €988,351 | €963,151 | ▼ 2.5% |
| Equity10/15 | €266,334 | €273,978 | €281,806 | €316,450 | €371,323 | ▲ 17.3% |
| Contributions10/11 | - | €147,605 | €147,605 | €147,605 | €147,605 | = |
| Reserves13 | €119,549 | €127,193 | €135,022 | €169,666 | €223,718 | ▲ 31.9% |
| Non-distributable reserves130/1 | - | €16,000 | €16,000 | - | - | - |
| Reserves not available under the articles1311 | - | €16,000 | €16,000 | - | - | - |
| Distributable reserves133 | - | €111,193 | €119,022 | €169,666 | €223,718 | ▲ 31.9% |
| Profit (loss) carried forward14 | -€821 | -€821 | -€821 | -€821 | - | - |
| Amounts payable17/49 | €976,302 | €885,578 | €795,002 | €671,901 | €591,828 | ▼ 11.9% |
| Amounts payable after more than one year17 | €662,594 | €580,927 | €499,717 | €426,868 | €329,822 | ▼ 22.7% |
| Financial debts170/4 | - | €580,927 | €499,717 | €426,868 | €329,822 | ▼ 22.7% |
| Amounts payable within one year42/48 | €311,911 | €303,133 | €293,570 | €243,758 | €259,830 | ▲ 6.6% |
| Current portion of amounts payable after more than one year42 | - | €98,371 | €85,337 | €97,737 | €97,046 | ▼ 0.7% |
| Financial debts43 | - | €3,022 | €3,022 | €4,059 | €1,693 | ▼ 58.3% |
| Credit institutions430/8 | - | €3,022 | €3,022 | €4,059 | €1,693 | ▼ 58.3% |
| Trade debts44 | €85,673 | €107,805 | €141,187 | €85,807 | €69,511 | ▼ 19.0% |
| Suppliers440/4 | - | €107,805 | €141,187 | €85,807 | €69,511 | ▼ 19.0% |
| Taxes, remuneration and social security45 | - | €27,075 | €27,818 | €31,455 | €42,687 | ▲ 35.7% |
| Taxes450/3 | - | €831 | €782 | €5,105 | €26,409 | ▲ 417% |
| Remuneration and social security454/9 | - | €26,243 | €27,035 | €26,350 | €16,279 | ▼ 38.2% |
| Other amounts payable47/48 | - | €66,860 | €36,206 | €24,700 | €48,892 | ▲ 97.9% |
| Accrued charges and deferred income492/3 | - | €1,518 | €1,715 | €1,275 | €2,176 | ▲ 70.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €53,606 | €7,644 | €7,828 | €34,644 | €54,873 | ▲ 58.4% |
| + Depreciation and write-downs630 | €103,285 | €100,707 | €87,762 | €99,307 | €98,350 | ▼ 1.0% |
| Operating cash flow (approximation) | €156,891 | €108,352 | €95,590 | €133,951 | €153,223 | ▲ 14.4% |
| Investment in fixed assets (approximation) | - | -€26,287 | -€50,915 | €0 | -€19,313 | - |
| Change in cash | - | -€18,554 | -€57,443 | €20,263 | €13,919 | ▼ 31.3% |
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
10-06
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
15-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2018net €54,873 ▲58.4%
Operating result €106,094, net result €54,873, both a record.
08-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
17-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
19-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
26-07
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Back to profitnet €53,606
Net result €53,606 after 2 loss-making years.
26-10
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 87 days late
2019
31-12
Financial
Weakest financial yearnet -€443
Net result drops to -€443, the lowest in the series; recovery starts the following year.
25-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
30-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Herk-de-Stad · 1 establishment unit since 1996
Ground area
3,075 m²
Building footprint
487 m²
Volume, LiDAR
2,286 m³
2 parcels, Flanders · tallest building 7.2 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
SUPRA
since 19962.075.137.133
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71051C0758/00D003 | Flanders | 2,267 m² | 1 · 344 m² | 7.1 m · 2 fl. |
| 71051C0758/00E003 | Flanders | 808 m² | 1 · 144 m² | 7.2 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels 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 siteHerk-de-Stad2.075.137.133
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DISTRIBECQ
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Of 10,510 companies in sector 47110 we hold annual accounts for 5,854. 3,531 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
Founded10-01-1996
Fiscal year end31-12
Activities, NACEBEL 2025
47110Non-specialised retail sale with food, beverages or tobacco predominating
E-invoicing
Reachable via Peppol
Peppol ID
0208:0456787351
Also
9925:BE0456787351
Registered
01-08-2023
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.