ARMADA
ActiveSummary
ARMADA has been active since 2000 and the Belgian Official Gazette contains no insolvency or warning signals. The 2026 annual accounts show equity of €414,164 and a net result of €94,977. Equity has been growing by about 19% per year since 2019. Its solvency ranks better than 65% of 119 sector peers (NACE 62, financial year 2026). The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 03-03-2000 Normal situation
- Activity
- Computer programming NACE 62100
- Establishment unit
- 2.097.325.684 8300 Knokke-Heist, since 29-11-2001
- Financial year end
- 31 May
- Peppol
- Reachable since 05-11-2025
Board and ownership
- Mortier FilipManaging director
- Mortier PeterDirector · since 01-09-2023
Financial position
- Bankruptcy probabilitywithin 12 months
- < 0.1%
- Gross margin
- €168,073
- ▲ 0.4%
- Turnover
- ≈ €270,000
- estimated
- Profit
- €94,977
- ▼ 2.2%
- Equity
- €414,164
- ▼ 12.0%
- Total assets
- €594,757
- ▼ 5.4%
Score breakdownlowers riskSize: total assets €594,757Sector: Computer programming, consultancy and related activities (NACE 62)Figures for financial year 2026 (filed on 17-09-2026)Equity €414,164 (69.6% of total assets)Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
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 (NACE 62, micro). It does better than 62% of them on solvency, 48% on liquidity, 52% on profitability and 29% on growth.
The bankruptcy probability was computed on 03-11-2026 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.
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).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 7 accounts on average 96 days before the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2026, abbreviated format
Annual accounts 2026 filed on 17-09-2026 at the NBB all 26 filings
Every figure per financial year
The operating result for 2026 is 0% higher than in 2025 and the highest since 2022. It is the fourth rise in a row.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 31-05-2022 | 31-05-2023 | 31-05-2024 | 31-05-2025 | 31-05-2026 |
|---|---|---|---|---|---|
| Tangible fixed assets | €65,747 | - | €76,481 | - | - |
| Depreciation and write-downs of the year | €19,291 | €23,313 | €20,706 | €28,446 | €28,446 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €17,529 | €17,865 | €10,517 | €19,291 | €23,313 | €20,706 | €28,446 | €28,446 | = |
| Other operating charges640/8 | - | - | - | €1,231 | €1,092 | €969 | €848 | €1,236 | ▲ 45.7% |
| Gross operating margin9900 | €74,339 | €86,609 | €100,059 | €109,349 | €118,776 | €154,984 | €167,398 | €168,073 | ▲ 0.4% |
| Operating profit (loss)9901 | €54,882 | €67,456 | €88,451 | €88,827 | €94,371 | €133,309 | €138,104 | €138,392 | ▲ 0.2% |
| Financial income75/76B | - | - | - | €0 | €1 | €3,979 | €9,770 | €6,049 | ▼ 38.1% |
| Recurring financial income75 | €0 | €1 | €16 | €0 | €1 | €3,979 | €9,770 | €6,049 | ▼ 38.1% |
| Financial charges65/66B | - | - | - | €9,688 | €9,793 | €10,021 | €9,991 | €10,149 | ▲ 1.6% |
| Recurring financial charges65 | €6,511 | €7,978 | €9,923 | €9,688 | €9,793 | €10,021 | €9,991 | €10,149 | ▲ 1.6% |
| Profit (loss) for the period before taxes9903 | €48,371 | €59,479 | €78,544 | €79,140 | €84,579 | €127,267 | €137,883 | €134,292 | ▼ 2.6% |
| Income taxes67/77 | €19,133 | €18,507 | €23,247 | €22,668 | €25,094 | €35,839 | €40,729 | €39,315 | ▼ 3.5% |
| Profit (loss) for the period9904 | €29,238 | €40,972 | €55,298 | €56,472 | €59,486 | €91,427 | €97,155 | €94,977 | ▼ 2.2% |
| Profit (loss) for the period to be appropriated9905 | €29,238 | €40,972 | €55,298 | €56,472 | €59,486 | €91,427 | €97,155 | €94,977 | ▼ 2.2% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €244,020 | €324,820 | €398,608 | €445,715 | €495,276 | €596,502 | €628,660 | €594,757 | ▼ 5.4% |
| Fixed assets21/28 | €46,187 | €30,739 | €21,584 | €68,040 | €44,727 | €100,503 | €72,057 | €43,611 | ▼ 39.5% |
| Tangible fixed assets22/27 | €46,187 | €30,739 | €21,584 | €68,040 | €44,727 | €100,503 | €72,057 | €43,611 | ▼ 39.5% |
| Furniture and vehicles24 | - | - | - | €68,040 | €44,727 | €100,503 | €72,057 | €43,611 | ▼ 39.5% |
| Current assets29/58 | €197,834 | €294,081 | €377,023 | €377,675 | €450,548 | €495,999 | €556,603 | €551,146 | ▼ 1.0% |
| Amounts receivable within one year40/41 | €52,978 | €67,878 | €60,339 | €47,619 | €45,802 | €49,718 | €65,240 | €79,178 | ▲ 21.4% |
| Trade receivables40 | - | - | - | €44,639 | €44,947 | €49,718 | €63,037 | €67,181 | ▲ 6.6% |
| Other amounts receivable41 | - | - | - | €2,980 | €855 | €0 | €2,203 | €11,997 | ▲ 445% |
| Current investments50/53 | - | - | - | - | - | €300,000 | €400,000 | €400,000 | = |
| Cash at bank and in hand54/58 | €141,376 | €223,825 | €314,380 | €327,533 | €402,201 | €144,465 | €89,270 | €69,487 | ▼ 22.2% |
| Deferred charges and accrued income490/1 | - | - | - | €2,523 | €2,545 | €1,817 | €2,094 | €2,481 | ▲ 18.5% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €244,020 | €324,820 | €398,608 | €445,715 | €495,276 | €596,502 | €628,660 | €594,757 | ▼ 5.4% |
| Equity10/15 | €120,201 | €161,174 | €216,471 | €272,943 | €332,429 | €404,809 | €470,491 | €414,164 | ▼ 12.0% |
| Contributions10/11 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Capital10 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Issued capital100 | - | - | - | €62,000 | €62,000 | €62,000 | €62,000 | €62,000 | = |
| Reserves13 | €39,154 | €80,126 | €135,424 | €191,896 | €251,382 | €342,809 | €408,491 | €352,164 | ▼ 13.8% |
| Non-distributable reserves130/1 | - | - | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Legal reserve130 | - | - | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Tax-exempt reserves132 | - | - | - | €2,920 | €2,920 | €2,920 | €2,920 | €2,920 | = |
| Distributable reserves133 | - | - | - | €182,776 | €242,262 | €333,689 | €399,371 | €343,044 | ▼ 14.1% |
| Profit (loss) carried forward14 | €19,047 | €19,047 | €19,047 | €19,047 | €19,047 | €0 | €0 | €0 | - |
| Amounts payable17/49 | €123,819 | €163,646 | €182,136 | €172,772 | €162,847 | €191,693 | €158,170 | €180,593 | ▲ 14.2% |
| Amounts payable after more than one year17 | €90,900 | €120,000 | €140,000 | €130,000 | €140,000 | €140,000 | €140,000 | €140,000 | = |
| Financial debts170/4 | - | - | - | €130,000 | €140,000 | €140,000 | €140,000 | €140,000 | = |
| Amounts payable within one year42/48 | €11,064 | €15,139 | €13,205 | €14,427 | €13,309 | €41,893 | €8,370 | €18,652 | ▲ 123% |
| Trade debts44 | €3,017 | €6,142 | €4,120 | €3,865 | €2,444 | €3,352 | €3,555 | €3,979 | ▲ 11.9% |
| Suppliers440/4 | - | - | - | €3,865 | €2,444 | €3,352 | €3,555 | €3,979 | ▲ 11.9% |
| Taxes, remuneration and social security45 | - | - | - | €10,563 | €10,865 | €19,493 | €4,815 | €14,673 | ▲ 205% |
| Taxes450/3 | - | - | - | €10,563 | €10,865 | €19,493 | €4,815 | €14,673 | ▲ 205% |
| Other amounts payable47/48 | - | - | - | - | - | €19,047 | €0 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €28,344 | €9,538 | €9,800 | €9,800 | €21,941 | ▲ 124% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €29,238 | €40,972 | €55,298 | €56,472 | €59,486 | €91,427 | €97,155 | €94,977 | ▼ 2.2% |
| + Depreciation and write-downs630 | €17,529 | €17,865 | €10,517 | €19,291 | €23,313 | €20,706 | €28,446 | €28,446 | = |
| Operating cash flow (approximation) | €46,767 | €58,838 | €65,815 | €75,763 | €82,798 | €112,133 | €125,600 | €123,423 | ▼ 1.7% |
| Investment in fixed assets (approximation) | - | -€2,417 | -€1,363 | -€65,747 | €0 | -€76,481 | €0 | €0 | - |
| Change in cash | - | €82,449 | €90,555 | €13,153 | €74,669 | -€257,737 | -€55,195 | -€19,783 | ▲ 64.2% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 20,136 companies had the same profile as ARMADA has now. Two years later, 95.0% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of ARMADA itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 20,136 companies, not a prediction for ARMADA. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 26 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-05-2026 | abbreviated format | 17-09-2026 | 2026-00515084 | |
| 31-05-2025 | micro format | 19-09-2025 | 2025-00495636 | |
| 31-05-2024 | micro format | 05-10-2024 | 2024-00494576 | |
| 31-05-2023 | micro format | 13-10-2023 | 2023-00485020 | |
| 31-05-2022 | micro format | 20-09-2022 | 2022-20432799 | |
| 31-05-2021 | micro format | 21-09-2021 | 2021-67800029 | |
| 31-05-2020 | micro format | 28-09-2020 | 2020-56300587 | |
| 31-05-2019 | micro format | 12-09-2019 | 2019-64300426 | |
| 31-05-2018 | micro format | 15-10-2018 | 2018-69400376 | |
| 31-05-2017 | micro format | 30-10-2017 | 2017-68400422 |
Board & ownership
Directors
Day-to-day management 1
Owners and capital
Capital transactions
- 10-10-2023 Capital stated in the deed · €62,000 · 2,500 shares
Mandate history
- Board
- Day-to-day management
| Name | Functions and periods |
|---|---|
| Mortier Filip |
|
| Mortier Peter |
|
Articles of association
- Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
- “Alle verrichtingen vermeld in de wet, gewone meerderheid van stemmen”
Articles of association, deed of 10-10-2023 (in Dutch)
Network & group
ARMADA shares no director with another company.
Connections & network
2 current directorsThe network starts from the directors of ARMADA. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
10-10
Gazette deed
Appointments: Mortier Filip (director) and Mortier Peter (director)Amendment of the articles · Registered office clause · Declaration12 points ▸
- General meeting, “buitengewone algemene vergadering van de aandeelhouders, éénparigheid van stemmen” (deed in Dutch)
- Amendment of the articles, mentioned 2 times in the deed
- Other provision, “bevestiging monistisch bestuurssysteem, monistisch” (deed in Dutch)
- Director appointment, Mortier Filip (director)
- Director appointment, Mortier Peter (director)
- Registered office clause, “8300 KNOKKE-HEIST,Witteduivenhof 37” (deed in Dutch)
- Declaration, “vrijstelling lezing en termijn”, 15 (deed in Dutch)
- Purpose change
- Capital, €62,000
- Power of attorney
- Board meeting, “na voormelde statutenwijziging onmiddellijk in vergadering bijeengekomen, met eenparigheid van stemmen” (deed in Dutch)
- Director appointment, Mortier Filip (managing director)
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
9 activities
- De ontwikkeling van hooggekwalificeerde soft-en hardware producten en de commercialisatie ervan
- De ontwikkeling en design van hooggekwalificeerde gaming software en de commercialisatie ervan
- De aansluiting en verdeling van internet zowel aan ondernemingen als aan particulieren,alsook het ontwerpen,het fabriceren,het plaatsen en de handel inzake telecommunicatiesystemen.
- Het samenstellen en commercialiseren van een internationaal en commercieel datacommunicatienetwerk via computer.
- Het geven van adviezen,het maken van studies,het voorbereiden en opstarten van informaticaprojecten,organisatiesystemen,het in toepassing brengen van systemen voor gegevensverwerking:
- Het ontwerpen,de handel,de plaatsing en de fabricatie van schakelborden voor energieverdeling en telecommunicatiesystemen in computerruimten alsmede de erbij horende elementen.
- Het uitwerken en installeren van datanetten,allerhande programmering,systeemanalyse en opleiding inzake computers.
- De in-en verkoop,de handel,de import en export van alle soft- en hardwarematerialen voor computers,onderdelen,randapparatuur en benodigdheden.
- Alle andere activiteiten in verband met computer.
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 31333H0711/00Y002 | Flanders | 321 m² | 1 · 85 m² | 10.6 m · 3 |