Checked.be
Active
BE 0406.771.775Public limited company
ARMSTRONG INTERNATIONAL
Parc Ind. des Hauts Sarts, 2e av 4 ·4040 Herstal, Belgium· 57 yrs active
Sector: Vervaardiging van overige producten van metaal, neg
(25999)
Conclusion
The computed 12-month bankruptcy probability of ARMSTRONG INTERNATIONAL is 0.3% (very low). The 2025 annual accounts show equity of €23.87M and a net result of €1.58M. Equity is growing by ~7.4% per year across the filed fiscal years. Its solvency ranks better than 74% of 291 sector peers (fiscal year 2025). The company has been active since 1969 and the Belgian State Gazette contains no insolvency or warning signals.
Based on the State Gazette, CBE and 7 annual accounts.
Key figures
| Equity | €23.87M |
| Net result | €1.58M |
| Staff (FTE) | 90.9 |
| Better than sector | 74% |
Financial profile
77
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
96
Profitability
42
Solvency
96
Growth
51
Stability
100
Bankruptcy probability (12 mo)
0.3%
Very low
0%0,5%1,5%4%10%≥25%
Long track record
−Higher-failure-rate sector
+Annual accounts: healthy financial profile
−
Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?
Risk Assessment
0 / 100
Low riskTrust signals
Long-established
Founded in 1969, 57 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Health barometer
96
/ 100
Excellent
Computed from 6 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.
See plans →Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 17-11-2025 with the NBB · fiscal year 2025 · volledig
The figures below are the statutory (non-consolidated) annual accounts. This company also files consolidated accounts; the group figures can differ substantially.
No trend projection for this company: it files both statutory and consolidated annual accounts. The statutory figures above track the parent, and they jump when activities move inside the group, not when the business grows or shrinks. A trend through such a series measures a restructuring, not a business trajectory.
Sector comparison
Fiscal year 2025 · NACE 25 · compared across all schema types (micro, abbreviated and full combined)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 63.0% | 38.1% | |
| Net result | €1.58M | €19k | |
| Equity | €23.87M | €69k | |
| Staff costs | €11.14M | €76k | |
| Employees (FTE) | 90.9 | 6.6 |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
€30.47M
+8.7%
19-25
€2.55M
+23.2%
19-25
€1.58M
+28.5%
19-25
€2.08M
+21.3%
19-25
€37.91M
+7.5%
19-25
€23.87M
+7.1%
19-25
€9.73M
-12.3%
19-25
91
+4.8%
19-25
Show 14 other metrics
€11.14M
+9.3%
19-25
€810k
+14.4%
19-25
€13.99M
+8.1%
19-25
€11.21M
+13.7%
19-25
€2.28M
-4.9%
19-25
1.87
-12.1%
19-25
1.16
-13.2%
19-25
63.0%
-0.4%
19-25
0.59
+0.9%
19-25
6.6%
+20.0%
19-25
4.2%
+19.5%
19-25
5.2%
+18.2%
19-25
8.4%
+13.4%
19-25
24.55
+35.2%
19-25
Figures by fiscal year
| Fiscal year | 2025 |
|---|---|
| Deposit | volledig |
| Revenue | €30.47M |
| EBITDA | €2.55M |
| Net profit | €1.58M |
| Cash flow | €2.08M |
| Staff costs | €11.14M |
| Income taxes | €810k |
| Dividends | - |
| Total assets | €37.91M |
| Equity | €23.87M |
| Debt | €13.99M |
| of which ≤ 1y | €11.21M |
| of which > 1y | €2.28M |
| Working capital | €9.73M |
| Employees (FTE) | 90.9 |
Ratios (computed)
| 2025 | |
|---|---|
| Current ratio | 1.87 |
| Quick ratio | 1.16 |
| Working capital ratio | 25.7% |
| Solvency | 63.0% |
| Debt / equity | 0.59 |
| Long-term debt ratio | 0.10 |
| Interest coverage | 24.55 |
| Gross margin | 66.3% |
| Net margin | 5.2% |
| ROA | 4.2% |
| ROE | 6.6% |
| EBITDA margin | 8.4% |
| Days sales outstanding | 98d |
| Days payable outstanding | 207d |
| Inventory turnover | 1.30 |
| Days inventory (DSI) | 281d |
Balance-sheet composition 2025
Full annual accounts (27 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €37.91M |
| Fixed assets | 21/28 | €16.96M |
| Intangible fixed assets | 21 | €67k |
| Tangible fixed assets | 22/27 | €3.29M |
| Financial fixed assets | 28 | €13.61M |
| Current assets | 29/58 | €20.94M |
| Stocks & contracts in progress | 3 | €7.93M |
| Amounts receivable within one year | 40/41 | €8.37M |
| Cash & bank | 54/58 | €4.42M |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €37.91M |
| Equity | 10/15 | €23.87M |
| Contributions / capital | 10/11 | €124k |
| Reserves | 13 | €40k |
| Accumulated profits (losses) | 14 | €23.65M |
| Provisions & deferred taxes | 16 | €43k |
| Amounts payable | 17/49 | €13.99M |
| Amounts payable after one year | 17 | €2.28M |
| Amounts payable within one year | 42/48 | €11.21M |
| Trade debts payable within one year | 44 | €5.82M |
| Income statement | ||
| Turnover | 70 | €30.47M |
| Operating result | 9901 | €2.05M |
| Financial income | 75 | €684k |
| Financial charges | 65 | €348k |
| Result before taxes | 9903 | €2.39M |
| Income taxes | 67/77 | €810k |
| Net result for the period | 9904 | €1.58M |
| Result to be appropriated | 9905 | €1.58M |
This table shows the latest fiscal year. 4 prior years, with figures and ratios, belong to a paid plan.
See plans →
Ratios computed by Checked.
Directors & mandates
Current directors & mandates
-
BDO Réviseurs d'Entreprises SRLLegal entityAuditorState Gazette act 23144157 (13-11-2023)Current13-11-2023 → present
-
Kurt David ArmstrongAdministratorState Gazette act 23144157 (13-11-2023)Current13-11-2023 → present
-
Ryan Douglas BlossAdministratorState Gazette act 23144157 (13-11-2023)Current13-11-2023 → present
-
R.IV. Consulting SRLLegal entityManaging directorState Gazette act 25010323 (23-01-2025)Current17-02-2022 → present
2 events
- 23-01-2025 Appointed· Managing director
- 17-02-2022 Appointed· Director
-
BDO Réviseurs d'Entreprises SCRLLegal entityAuditorState Gazette act 21082689 (09-07-2021)Current09-07-2021 → present
-
Valérie CervelinManaging directorState Gazette act 25010323 (23-01-2025)Current18-12-2017 → present
5 events
- 23-01-2025 Appointed· Managing director
- 17-02-2022 Appointed· Managing director
- 08-03-2019 Appointed· Managing director
- 18-12-2017 Appointed· Director
- 18-12-2017 Appointed· Managing director
Historic, not recently confirmed (3)
These mandates remain open in the register but have not been confirmed by a new act in over six years. They do not count as active directors.
-
R.IV. Consulting SPRLLegal entityManaging directorState Gazette act 19034040 (08-03-2019)Not recently confirmedlast confirmed in an act from 2019
3 events
- 08-03-2019 Appointed· Managing director
- 19-10-2017 Appointed· Managing director
- 17-08-2017 Appointed· Director
-
BDO Reviseurs d'EntreprisesAuditorState Gazette act 18093401 (15-06-2018)Not recently confirmedlast confirmed in an act from 2018
-
BDO Atrio Réviseurs d'Entreprises CVBALegal entityAuditorState Gazette act 08186060 (01-12-2008)Not recently confirmedlast confirmed in an act from 2008
Permanent representatives (2)
These people represent a legal-person director (a management company, for instance). They hold no board mandate of their own and do not count as directors.
-
Felix FANKRepresentant permanent du commissaireState Gazette act 16107851 (01-08-2016)Permanent representative01-08-2016 → present
-
Luc ANNICKRepresentant permanent du commissaireState Gazette act 16107851 (01-08-2016)Permanent representative- → 01-08-2016
Former directors (4)
-
Douglas BlossDirectorState Gazette act 20042017 (19-03-2020)Former19-03-2020 → 13-11-2023
2 events
- 13-11-2023 Resigned· Administrator
- 19-03-2020 Appointed· Director
-
Patrick ArmstrongDirectorState Gazette act 20042017 (19-03-2020)Former19-03-2020 → 13-11-2023
2 events
- 13-11-2023 Resigned· Administrator
- 19-03-2020 Appointed· Director
-
Alain PenasseManaging directorState Gazette act 17148214 (19-10-2017)Former19-10-2017 → 24-04-2018
3 events
- 24-04-2018 Resigned· Director
- 24-04-2018 Resigned· Managing director
- 19-10-2017 Appointed· Managing director
-
Rossen IvanovDirectorState Gazette act 17148214 (19-10-2017)Former- → 19-10-2017
2 events
- 19-10-2017 Resigned· Director
- 19-10-2017 Resigned· Managing director
Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.
Legal Structure
| NACE primary | Vervaardiging van overige producten van metaal, neg(25999) |
| Legal form | Public limited company(014) |
| Incorporation | 14-05-1969 |
| Status | Active |
| Postal code | 4040 |
Establishment units
ARMSTRONG INTERNATIONAL
since 19692.003.004.369
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Updates
A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.
2025
17-11-2025
NBB filing
Annual accounts filed
17-11-2025
NBB filing
Annual accounts filed
23-01-2025
State Gazette act
Director changes
2024
28-10-2024
NBB filing
Annual accounts filed
28-10-2024
NBB filing
Annual accounts filed
2023
13-11-2023
State Gazette act
Director changes
16-10-2023
NBB filing
Annual accounts filed
2022
14-10-2022
NBB filing
Annual accounts filed
04-05-2022
State Gazette act
Statutes amendment
17-02-2022
State Gazette act
Director changes
2021
19-10-2021
NBB filing
Annual accounts filed
09-07-2021
State Gazette act
Director changes
2020
25-09-2020
NBB filing
Annual accounts filed
19-03-2020
State Gazette act
Director changes
2019
21-10-2019
NBB filing
Annual accounts filed
08-03-2019
State Gazette act
Director changes
2018
05-11-2018
NBB filing
Annual accounts filed
15-06-2018
State Gazette act
Director changes
24-04-2018
State Gazette act
Director changes
2017
18-12-2017
State Gazette act
Director changes
19-10-2017
State Gazette act
Director changes
17-08-2017
State Gazette act
Director changes
2016
01-08-2016
State Gazette act
Director changes
2008
01-12-2008
State Gazette act
Director changes
Belgian State Gazette reading coverage
We know of 19 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
Belgisch Staatsblad, acts
All acts · 14
updated 1 year ago
2025
23-01-2025 2 directors appointed
- R.IV. Consulting SRL, Gedelegeerd bestuurder
- Valérie Cervelin, Gedelegeerd bestuurder
Summary:
v3.2
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13-11-2023 3 directors appointed, 2 resigning
- Kurt David Armstrong, Administrator
- Ryan Douglas Bloss, Administrator
- BDO Réviseurs d'Entreprises SRL, Auditor
- Douglas Bloss, Administrator
- Patrick Armstrong, Administrator
Summary:
v3.2
Technical details
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}2022
04-05-2022 Articles of association amended
Summary:
v3.2
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}17-02-2022 2 directors appointed
- R.IV. Consulting SRL, Bestuurder
- Valérie Cervelin, Gedelegeerd bestuurder
Summary:
v3.2
Technical details
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}2021
09-07-2021 BDO Réviseurs d'Entreprises SCRL appointed as auditor
- BDO Réviseurs d'Entreprises SCRL, Auditor
Summary:
v3.2
Technical details
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19-03-2020 2 directors appointed
- Patrick Armstrong, Bestuurder
- Douglas Bloss, Bestuurder
Summary:
v3.2
Technical details
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}2019
08-03-2019 2 directors appointed
- R.IV. Consulting SPRL, Gedelegeerd bestuurder
- Valérie Cervelin, Gedelegeerd bestuurder
Summary:
v3.2
Technical details
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15-06-2018 BDO Reviseurs d'Entreprises appointed as auditor
- BDO Reviseurs d'Entreprises, Auditor
Summary:
v3.2
Technical details
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}24-04-2018 2 resigning
- Alain Penasse, Bestuurder
- Alain Penasse, Gedelegeerd bestuurder
Summary:
v3.2
Technical details
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}2017
18-12-2017 2 directors appointed
- Valérie Cervelin, Bestuurder
- Valérie Cervelin, Gedelegeerd bestuurder
Summary:
v3.2
Technical details
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}19-10-2017 2 directors appointed, 2 resigning
- R.IV. Consulting SPRL, Gedelegeerd bestuurder
- Alain Penasse, Gedelegeerd bestuurder
- Rossen Ivanov, Bestuurder
- Rossen Ivanov, Gedelegeerd bestuurder
Summary:
v3.2
Technical details
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}17-08-2017 R.IV. Consulting SPRL appointed as director
- R.IV. Consulting SPRL, Bestuurder
Summary:
v3.2
Technical details
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}2016
01-08-2016 1 director appointed, 1 resigning
- Felix FANK, Representant permanent du commissaire
- Luc ANNICK, Representant permanent du commissaire
Summary:
v3.2
Technical details
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}2008
01-12-2008 BDO Atrio Réviseurs d'Entreprises CVBA appointed as auditor
- BDO Atrio Réviseurs d'Entreprises CVBA, Auditor
Summary:
v3.2
Technical details
{
"events": [
{
"kind": "director_in",
"role": "auditor",
"person": {
"rrn": null,
"name": "BDO Atrio R\u00E9viseurs d\u0027Entreprises CVBA",
"address": null,
"birth_date": null
}
}
],
"schema": "v3.2",
"act_meta": {
"extractor": "qwen3-30b-a3b"
},
"subject_company": {
"kbo": "0406.771.775",
"name_full": "Armstrong International"
}
}Credit advice
Company registry (CBE)
Activities
Vervaardiging van overige producten van metaal, neg25999Vervaardiging van andere kranen en dergelijke artikelen28140Vervaardiging van afsluitkranen en dergelijke artikelen29130
Primary activity highlighted.
Names & trade names
| Legal nameFR | ARMSTRONG INTERNATIONAL |
Registered office
Parc Ind. des Hauts Sarts, 2e av 4
4040 Herstal, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.
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