ARMOISE
ActiveSummary
The computed 12-month bankruptcy probability of ARMOISE is 2.7% (moderate). The 2025 annual accounts show equity of €121,118 and a net result of -€22,365. Equity is shrinking by about 17% per year and would, assuming unchanged policy, indicatively turn negative around financial year 2028. The company has been active since 1999 and the Belgian Official Gazette contains no insolvency or warning signals.
Overview
- Equity
- €121,118
- Loss
- -€22,365
Why 51raises riskLast filed accounts filed 34 days late; 3 of the last 3 lateLiquidity: current ratio 0.15, cash €148, halvedLoss of €22,365, the second in a row (financial year 2025)lowers riskSize: total assets €150,710Show the evidence
Checked score
About 3 in 100 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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, micro): better than 81% on solvency, 26% on liquidity, 25% on profitability and 20% on growth.
The bankruptcy probability was computed on 29-10-2026 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. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 126 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · abbreviated…
- Annual accounts filedfinancial year 2024 · micro…
- Annual accounts filedfinancial year 2023 · micro…
Financials · financial year 2025, abbreviated format
2025 annual accounts filed late (34 days) Filed on 3 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00500615.
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €22,173 in 2025 against €40,817 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Use the arrow keys on the chart for the figures per year.
Peer companies
Historical observationOf the 5,831 companies that looked in July 2024 the way this one looks now, 1.7% went bankrupt within 24 months and 84.6% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a loss of 10% of the balance sheet or more
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 2.7% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% 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 5,831 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.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Goods, raw materials, services and sundry goods60/61 | - | - | - | - | - | - | €33,247 | €12,573 | ▼ 62.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €33,860 | €34,107 | €25,155 | €24,575 | €23,511 | €21,042 | €21,467 | €23,385 | ▲ 8.9% |
| Other operating charges640/8 | - | - | - | €2,694 | €4,212 | €1,866 | €1,933 | €2,044 | ▲ 5.8% |
| Non-recurring operating charges66A | - | - | - | - | - | €6,132 | - | - | - |
| Gross operating margin9900 | €89,772 | -€17,675 | -€13,712 | -€15,513 | -€233 | -€19,031 | -€17,418 | €3,256 | - |
| Operating profit (loss)9901 | €53,472 | -€53,505 | -€40,560 | -€42,782 | -€27,955 | -€48,071 | -€40,817 | -€22,173 | ▲ 45.7% |
| Financial income75/76B | - | - | - | €65 | - | €304 | €316 | €132 | ▼ 58.3% |
| Recurring financial income75 | €300 | €100 | €78 | €65 | - | €304 | €316 | €132 | ▼ 58.3% |
| Financial charges65/66B | - | - | - | €766 | €877 | €326 | €333 | €287 | ▼ 13.8% |
| Recurring financial charges65 | €2,096 | €3,492 | €2,331 | €766 | €877 | €326 | €333 | €287 | ▼ 13.8% |
| Profit (loss) for the period before taxes9903 | €51,677 | -€56,897 | -€42,812 | -€43,483 | -€28,832 | -€48,093 | -€40,835 | -€22,329 | ▲ 45.3% |
| Income taxes67/77 | €7,295 | €258 | €238 | €253 | €110 | €143 | €117 | €37 | ▼ 68.7% |
| Profit (loss) for the period9904 | €44,382 | -€57,154 | -€43,051 | -€43,736 | -€28,942 | -€48,236 | -€40,952 | -€22,365 | ▲ 45.4% |
| Profit (loss) for the period to be appropriated9905 | €44,382 | -€57,154 | -€43,051 | -€43,736 | -€28,942 | -€48,236 | -€40,952 | -€22,365 | ▲ 45.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €456,952 | €400,787 | €333,508 | €289,498 | €283,614 | €232,478 | €192,447 | €150,710 | ▼ 21.7% |
| Fixed assets21/28 | €221,700 | €188,251 | €164,281 | €143,907 | €168,184 | €143,504 | €138,831 | €146,138 | ▲ 5.3% |
| Tangible fixed assets22/27 | €219,866 | €188,251 | €164,281 | €143,907 | €168,184 | €143,504 | €138,831 | €146,138 | ▲ 5.3% |
| Land and buildings22 | - | - | - | €115,688 | €104,840 | €100,050 | €91,343 | €83,517 | ▼ 8.6% |
| Furniture and vehicles24 | - | - | - | €10,190 | €41,563 | €25,622 | €16,988 | €8,499 | ▼ 50.0% |
| Other tangible fixed assets26 | - | - | - | €18,030 | €21,781 | €17,832 | €30,500 | €54,122 | ▲ 77.5% |
| Financial fixed assets28 | €1,834 | - | - | - | - | - | - | - | - |
| Current assets29/58 | €235,252 | €212,536 | €169,227 | €145,591 | €115,430 | €88,974 | €53,616 | €4,572 | ▼ 91.5% |
| Amounts receivable within one year40/41 | €8,891 | €3,522 | - | - | €611 | - | - | - | - |
| Trade receivables40 | - | - | - | - | €611 | - | - | - | - |
| Current investments50/53 | €132,090 | €204,391 | €166,311 | €143,687 | €112,375 | €88,167 | €52,132 | €4,424 | ▼ 91.5% |
| Cash at bank and in hand54/58 | €55,940 | €3,282 | €1,711 | €1,173 | €1,713 | €807 | €1,483 | €148 | ▼ 90.0% |
| Deferred charges and accrued income490/1 | - | - | - | €731 | €731 | - | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €456,952 | €400,787 | €333,508 | €289,498 | €283,614 | €232,478 | €192,447 | €150,710 | ▼ 21.7% |
| Equity10/15 | €405,554 | €348,399 | €305,349 | €261,613 | €232,671 | €184,435 | €143,483 | €121,118 | ▼ 15.6% |
| Contributions10/11 | €281,505 | €281,505 | - | €281,505 | €281,505 | €281,505 | €281,505 | €281,505 | = |
| Contributions outside capital11 | - | - | - | €281,505 | €281,505 | €281,505 | €281,505 | €281,505 | = |
| Other1109/19 | - | - | - | €281,505 | €281,505 | €281,505 | €281,505 | €281,505 | = |
| Reserves13 | €124,049 | €66,894 | €23,844 | €21,243 | €21,243 | €21,243 | €21,243 | €21,243 | = |
| Non-distributable reserves130/1 | - | - | - | €2,493 | €2,493 | €2,493 | €2,493 | €2,493 | = |
| Reserves not available under the articles1311 | - | - | - | €2,493 | €2,493 | €2,493 | €2,493 | €2,493 | = |
| Tax-exempt reserves132 | - | - | - | €18,750 | €18,750 | €18,750 | €18,750 | €18,750 | = |
| Profit (loss) carried forward14 | - | - | - | -€41,135 | -€70,078 | -€118,314 | -€159,266 | -€181,631 | ▼ 14.0% |
| Amounts payable17/49 | €51,398 | €52,388 | €28,159 | €27,884 | €50,943 | €48,043 | €48,964 | €29,592 | ▼ 39.6% |
| Amounts payable within one year42/48 | €51,398 | €52,388 | €28,159 | €27,884 | €50,943 | €48,043 | €48,964 | €29,592 | ▼ 39.6% |
| Trade debts44 | €1,158 | €161 | €797 | €262 | €192 | - | €1,003 | - | - |
| Suppliers440/4 | - | - | - | €262 | €192 | - | €1,003 | - | - |
| Taxes, remuneration and social security45 | - | - | - | €961 | €2,851 | €143 | €116 | - | - |
| Taxes450/3 | - | - | - | €961 | €2,851 | €143 | €116 | - | - |
| Other amounts payable47/48 | - | - | - | €26,661 | €47,900 | €47,900 | €47,845 | €29,592 | ▼ 38.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €44,382 | -€57,154 | -€43,051 | -€43,736 | -€28,942 | -€48,236 | -€40,952 | -€22,365 | ▲ 45.4% |
| + Depreciation and write-downs630 | €33,860 | €34,107 | €25,155 | €24,575 | €23,511 | €21,042 | €21,467 | €23,385 | ▲ 8.9% |
| Operating cash flow (approximation) | €78,242 | -€23,047 | -€17,896 | -€19,160 | -€5,431 | -€27,194 | -€19,485 | €1,020 | - |
| Investment in fixed assets (approximation) | - | -€658 | -€1,184 | -€4,201 | -€47,788 | €3,638 | -€16,794 | -€30,692 | ▼ 82.8% |
| Change in cash | - | -€52,657 | -€1,571 | -€538 | €540 | -€906 | €676 | -€1,336 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 26 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | abbreviated format | 03-09-2026 | 2026-00500615 |
| 31-12-2024 | micro format | 31-10-2025 | 2025-00563138 |
| 31-12-2023 | micro format | 08-11-2024 | 2024-00531425 |
| 31-12-2022 | micro format | 08-11-2024 | 2024-00531230 |
| 31-12-2021 | micro format | 08-12-2022 | 2022-20534867 |
| 31-12-2020 | micro format | 31-08-2021 | 2021-63000303 |
| 31-12-2019 | micro format | 28-08-2020 | 2020-48400335 |
| 31-12-2018 | micro format | 26-08-2019 | 2019-51000576 |
| 31-12-2017 | micro format | 13-08-2018 | 2018-46200009 |
| 31-12-2016 | micro format | 05-07-2017 | 2017-29300126 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Owners and capital
Capital and shareholders
- 31-01-2024 Converted to unavailable equity
Group and network
Connections & network
No directors read yet: 1 of 2 Gazette acts processed.
History
Acts, filings and financial milestones
31-01
Gazette deed
Purpose · Legal-form change · Resignations & appointmentsCapital conversion · Reserve release · Amendment of the articles9 facts ▸
- General meeting, “assemblée de la SRL ARMOISE” (deed in French)
- Capital conversion, “compte de capitaux propres statutairement indisponibles” (deed in French)
- Reserve release, “suppression du compte de capitaux propres statutairement indisponibles, rendre disponibles ces moyens pour distribution” (deed in French)
- Amendment of the articles
- Other provision, “dispense de lecture du rapport de l'administrateur, dispense le Président de donner lecture du rapport de l'administrateur justifiant la proposition de la modif…” (deed in French)
- Purpose change
- Capital
- Power of attorney
- Legal-form conversion, “Société à Responsabilité Limitée” (deed in French)
About the unread acts
Of the 2 Belgian Official Gazette deeds we know for this company, 1 has been read. The other one has not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Recognitions · licences · registrations
Legal Entity Identifier
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 25103E0420/00K000 | Wallonia | 788 m² | 1 · 85 m² | 9.5 m · 3 |
How the parcels are linked
Articles of association
What the company does
- PurposeThe activities the company may carry out under its articles.
- “L'acquisition par souscription ou achat et la gestion d'actions, d'obligations, de bons de caisse et d'autres valeurs mobilières…” (deed in French)
4 activities (deed in French)
- L'acquisition par souscription ou achat et la gestion d'actions, d'obligations, de bons de caisse et d'autres valeurs mobilières généralement quelconques, de sociétés belges ou étrangères, existantes ou à constituer ainsi que la gestion d'un patrimoine mobilier
- La constitution et la gestion d’un patrimoine immobilier et la location financement de biens immeubles aux tiers, l’acquisition par l’achat ou autrement, la vente, l’échange, la construction, la transformation, l’amélioration, l’équipement, l’aménagement, l’embellissement, l’entretien, la location, la prise en location, le lotissement, la prospection et l’exploitation de biens immobiliers
- Accomplir toutes opérations mobilières, immobilières ou financières se rattachant directement ou indirectement à son objet
- S'intéresser par voie d'association, d'apport, de fusion, d'intervention financière ou autrement dans toutes sociétés, associations ou entreprises dont l'objet est analogue ou connexe au sien ou susceptible de favoriser le développement de son entreprise ou de constituer pour elle une source de débouchés
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- One provision in the deed
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- “Dans ce cas, l'assemblée générale, lors de sa première réunion, confirme ou non le mandat de l’ administrateur coopté. L'administrateur…”
- Board ruleHow the board is made up, meets and takes decisions.
- “Avec ou sans limitation de durée, 1” (deed in French)“L'administrateur désigné et confirmé dans les conditions ci-dessus termine le mandat de son prédécesseur, En cas de vacance d'une place…” (deed in French)
- Permanent representative ruleA company that is a director names a natural person to carry out the mandate on its behalf.
- “Représentant permanent, La personne morale ne peut mettre fin à la représentation permanente sans avoir désigné simultanément un successeur” (deed in French)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- First Saturday of June at 10:00
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “État résumant la situation active et passive arrêté à une date ne remontant pas à plus de trois mois, causes légales ou décision de…” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Nomination met fin aux pouvoirs de l'organe d'administration, assemblée générale détermine les pouvoirs, émoluments et mode de liquidation” (deed in French)