Equity
ARMA paid out €2.7m in dividends. That is 1,632% of the 2025 profit.
ARMA paid out €2.7m in dividends. That is 1,632% of the 2025 profit.
The result fell in 2025: different schema filed.
New directors. Latest change 09-06-2026 · 6 in office.
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (no NACE code, large). It does better than 67% of them on solvency, 76% on liquidity, 50% on profitability and 18% on growth.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Liquidity is ample, with a current ratio of 6.94 (8.93 in 2024), above the usual 1.5. Short-term debt is 0.8% and cash 1.6% of total assets. 0.8% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 1 day before the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were late.
ARMA has been active since 2016 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €108.8m and a net result of €162,550.
Equity has been stable since 2018 (±0.4% per year). The computed 12-month bankruptcy probability is 0.1% (very low).
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover: not included in this filing.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||
20/58 |
109.6m | 113.2m | 118.8m | 115.5m | 111.3m | 115.7m | 116.7m | 115.3m | 100.7m | |
21/28 |
103.8m | 96.1m | 96.0m | 96.0m | 96.0m | 100.0m | 99.2m | 103.5m | 98.7m | |
28 |
103.8m | 96.1m | 96.0m | 96.0m | 96.0m | 100.0m | 99.2m | 103.5m | 98.7m | |
29/58 |
5.8m | 17.1m | 22.7m | 19.5m | 15.2m | 15.7m | 17.5m | 11.8m | 2.0m | |
29 |
809,938 | 75,714 | 9.9m | 3.6m | 3.6m | 117,310 | - | - | - | |
290 |
59,938 | 75,714 | 9.9m | 3.6m | 3.6m | 117,310 | - | - | - | |
291 |
750,000 | - | - | - | - | - | - | - | - | |
40/41 |
619,626 | 3.3m | 632,332 | 1.4m | 1.2m | 705,376 | 215,192 | - | - | |
40 |
- | - | - | - | - | 43,548 | 14,868 | - | - | |
41 |
619,626 | 3.3m | 632,332 | 1.4m | 1.2m | 661,827 | 200,323 | - | - | |
50/53 |
2.6m | 11.6m | 9.1m | 3.2m | 4.0m | 3.7m | 3.4m | - | - | |
54/58 |
1.7m | 2.0m | 2.6m | 11.1m | 6.3m | 11.1m | 13.9m | 11.8m | 2.0m | |
490/1 |
89,046 | 113,670 | 469,982 | 195,398 | 124,561 | 58,782 | 27,915 | 8,057 | - | |
| Balance sheet: equity and liabilities | ||||||||||
10/49 |
109.6m | 113.2m | 118.8m | 115.5m | 111.3m | 115.7m | 116.7m | 115.3m | 100.7m | |
10/15 |
108.8m | 111.3m | 118.7m | 115.5m | 109.6m | 115.3m | 114.7m | 111.5m | 96.1m | |
10/11 |
96.2m | 96.2m | 96.2m | 96.2m | 96.2m | 96.2m | 96.2m | 96.2m | 96.2m | |
10 |
96.2m | 96.2m | 96.2m | 96.2m | 96.2m | - | - | - | - | |
100 |
96.2m | 96.2m | 96.2m | 96.2m | 96.2m | 96.2m | 96.2m | 96.2m | 96.2m | |
13 |
12.9m | 20.8m | 28.3m | 25.0m | 19.2m | 19.2m | 18.7m | 15.4m | - | |
130/1 |
1.6m | 1.6m | 1.4m | 1.2m | 950,976 | 950,976 | - | - | - | |
130 |
1.6m | 1.6m | 1.4m | 1.2m | 950,976 | 950,976 | 766,470 | 766,470 | - | |
133 |
11.3m | 19.2m | 26.9m | 23.8m | 18.3m | 18.3m | 17.9m | 14.7m | - | |
14 |
-294,941 | -5.7m | -5.7m | -5.7m | -5.7m | -91,975 | -91,975 | -91,975 | -91,975 | |
17/49 |
840,150 | 1.9m | 50,068 | 18,362 | 1.6m | 464,940 | 2.0m | 3.8m | 4.7m | |
17 |
- | - | - | - | - | - | - | 2.0m | 4.4m | |
170/4 |
- | - | - | - | - | - | - | 2.0m | 4.4m | |
42/48 |
840,061 | 1.9m | 47,677 | 14,982 | 1.6m | 451,075 | 1.9m | 1.8m | 245,809 | |
42 |
- | - | - | - | 1.5m | - | - | 212,000 | 212,000 | |
44 |
22,081 | 14,160 | 47,677 | 14,982 | 25,763 | 89,014 | 31,159 | 49,341 | 27,830 | |
440/4 |
22,081 | 14,160 | 47,677 | 14,982 | 25,763 | 89,014 | 31,159 | 49,341 | 27,830 | |
45 |
- | - | - | - | - | 359,613 | 1.9m | 1.5m | - | |
450/3 |
- | - | - | - | - | 359,613 | 1.9m | 1.5m | - | |
47/48 |
817,980 | 1.9m | - | - | 27,240 | 2,448 | 2,382 | 6,781 | 5,979 | |
492/3 |
89 | 6,832 | 2,391 | 3,380 | 24,929 | 13,865 | 65,440 | 2,891 | - | |
| Income statement | ||||||||||
76A |
- | - | - | - | - | 195,614 | - | - | - | |
9900 |
-221,031 | -118,116 | -168,898 | -185,833 | -182,617 | -210,449 | -158,373 | -138,894 | -49,847 | |
640/8 |
1,214 | 1,375 | 1,340 | 1,167 | 941 | 2,418 | 1,149 | 505 | 1,062 | |
9901 |
-222,246 | -119,491 | -170,238 | -187,000 | -183,558 | -212,867 | -159,522 | -139,400 | -50,909 | |
75/76B |
401,645 | 4.7m | 3.4m | 6.0m | 145,805 | 378,237 | 3.8m | 17.1m | - | |
75 |
401,645 | 4.7m | 3.4m | 6.0m | 145,805 | 182,623 | 3.0m | 17.1m | - | |
76B |
- | - | - | 7,473 | - | 195,614 | 767,231 | - | - | |
65/66B |
16,850 | 55,574 | 1,539 | 27,258 | 5.6m | 4,444 | 39,806 | 21,438 | 41,065 | |
65 |
16,850 | 55,574 | 1,539 | 27,258 | 5.6m | 4,444 | 39,806 | 21,438 | 41,065 | |
9903 |
162,550 | 4.5m | 3.3m | 5.8m | -5.6m | 160,926 | 3.6m | 17.0m | -91,975 | |
67/77 |
- | - | - | - | - | 14,630 | 325,217 | 1.5m | - | |
9904 |
162,550 | 4.5m | 3.3m | 5.8m | -5.6m | 146,296 | 3.3m | 15.4m | -91,975 | |
9905 |
162,550 | 4.5m | 3.3m | 5.8m | -5.6m | 146,296 | 3.3m | 15.4m | -91,975 | |
| Appropriation of the result | ||||||||||
9906 |
-5.5m | -1.2m | -2.5m | 104,744 | -5.7m | 54,321 | 3.2m | 15.3m | -91,975 | |
14P |
-5.7m | -5.7m | -5.7m | -5.7m | -91,975 | - | - | - | - | |
791/2 |
7.9m | 12.0m | - | - | - | - | - | - | - | |
691/2 |
0 | 4.5m | 3.3m | 5.8m | - | 146,296 | 3.3m | 15.4m | - | |
6920 |
0 | 226,794 | 162,868 | 290,633 | - | 7,315 | - | 766,470 | - | |
6921 |
0 | 4.3m | 3.1m | 5.5m | - | 138,981 | 3.3m | 14.7m | - | |
694/7 |
2.7m | 12.0m | - | - | - | - | - | - | - | |
694 |
2.7m | 12.0m | - | - | - | - | - | - | - | |
| Document | ||||||||||
The notes to these accounts have 6 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 31-08-2026.
2025 annual accounts filed 31 days after the deadline. Filed on 31 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00499132.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 31-08-2026 | 2026-00499132 | |
| 31-12-2024 | abbreviated format | 24-06-2025 | 2025-00182038 | |
| 31-12-2023 | abbreviated format | 28-06-2024 | 2024-00175008 | |
| 31-12-2022 | abbreviated format | 31-12-2023 | 2023-00540238 | |
| 31-12-2021 | abbreviated format | 24-06-2022 | 2022-20088356 | |
| 31-12-2020 | abbreviated format | 21-06-2021 | 2021-21500220 | |
| 31-12-2019 | micro format | 19-06-2020 | 2020-18000267 | |
| 31-12-2018 | micro format | 30-09-2019 | 2019-66500472 | |
| 31-12-2017 | micro format | 30-08-2018 | 2018-53200454 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| 7.7m | 50,440 | - | - | 5.3m | 877,500 | - | 4.8m | 98.7m | ||
| -205,531 | -625,251 | -8.5m | 4.8m | -4.8m | -2.8m | 2.1m | 9.8m | - | ||
| 5.0m | 15.2m | 22.7m | 19.4m | 13.7m | 15.2m | 15.6m | 10.0m | 1.8m | ||
| 99.2% | 98.3% | 100.0% | 100.0% | 98.5% | 99.6% | 98.3% | 96.7% | 95.4% | ||
| 6.94 | 8.93 | - | - | 9.56 | 34.76 | 9.25 | 6.51 | 8.16 | ||
| 0.01 | 0.02 | 0.00 | 0.00 | 0.01 | 0.00 | 0.02 | 0.03 | 0.05 | ||
| 0.1% | 4.1% | 2.7% | 5.0% | -5.1% | 0.1% | 2.8% | 13.8% | -0.1% | ||
| 0.1% | 4.0% | 2.7% | 5.0% | -5.0% | 0.1% | 2.8% | 13.4% | -0.1% |
EBIT margin: not included in this filing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| - | €7.9m | €8.9m | €8.9m | €8.9m |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Financial fixed assets | €7.7m | €50,440 | - | - | €5.3m |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €222,246, larger than the loss of €119,491 in 2024. It is the lowest result since 2017.
Debt's share of the balance-sheet total falls from 1.7% to 0.8%. Equity and debt are lower.
Source: list of holdings in its own 2025 accounts. Every holding stands with its own latest accounts.
| KLEDING DEMOLUX
registered office since 19-08-1997 · founded in 1975 |
total assets €412,388 (2025) 0415.406.161 |
| Familie Seynaeve Arthur Christiaan – Seynaeve Arthur Wauthier
registered office since 22-01-2019 |
founded in 2019 0719.826.805 |
ARMA or one of its subsidiaries holds more than half of the shares of these companies. A company it consolidates per the LEI register is listed too.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Reigerlostraat 4 registered office 8730 Beernem 7010001 Activities of head offices | 14-10-2016 | 2.260.002.109 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 31003G0328/00_000 | 1.4 ha | 1 · 336 m² | 10.9 m · 2 |
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