ARNIMEX
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 22-01-2026 PDF all 17 filings
Turnover
≈ €3.8m
Estimated: probably between €2.8m and €6.9m
Total assets
€3.1m▲ 20.7%
2024 · €2.6m
Net result
€370,370▼ 5.4%
2024 · €391,602
Working capital
€1.7m▲ 29.3%
2024 · €1.3m
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€548,059
▼ 4.6%
2025
20192025
Net result
€370,370
▼ 5.4%
2025
highest quarter of the sector
20192025
Equity
€2.1m
▲ 21.9%
2025
highest quarter of the sector
20192025
Total assets
€3.1m
▲ 20.7%
2025
highest quarter of the sector
20192025
Debt
€1.0m
▲ 18.2%
2025
20192025
Working capital
€1.7m
▲ 29.3%
2025
highest quarter of the sector
20192025
Solvency
66.3%
▲ 0.7pp
2025
middle half of the sector
20192025
Current ratio
2.71
▲ 0.06
2025
middle half of the sector
20192025
Return on assets (ROA)
11.9%
▼ 3.3pp
2025
highest quarter of the sector
20192025
Staff (FTE)
0.1
=
2025
lowest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.2m-€0.2m▲ 12.9%€0.3m▲ 45.7%€0.3m▼ 4.5%€0.5m▲ 50.4%€0.6m▲ 15.0%€0.5m▼ 4.6%
Net result€0.1m-€0.2mabove the sector's middle half▲ 20.3%€0.2mabove the sector's middle half▲ 49.9%€0.2mabove the sector's middle half▼ 4.7%€0.3mabove the sector's middle half▲ 51.7%€0.4mabove the sector's middle half▲ 15.6%€0.4mabove the sector's middle half▼ 5.4%
Equity€1.0m-€1.2mabove the sector's middle half▲ 15.0%€1.2mabove the sector's middle half▲ 3.8%€1.5mabove the sector's middle half▲ 17.9%€1.3mabove the sector's middle half▼ 11.7%€1.7mabove the sector's middle half▲ 30.2%€2.1mabove the sector's middle half▲ 21.9%
Total assets€1.6m-€1.7mwithin the sector's middle half▲ 8.0%€2.1mwithin the sector's middle half▲ 21.8%€2.1mwithin the sector's middle half▲ 3.3%€2.6mwithin the sector's middle half▲ 23.6%€2.6mwithin the sector's middle half▼ 2.6%€3.1mabove the sector's middle half▲ 20.7%
Debt€0.5m-€0.5m▼ 5.8%€0.8m▲ 65.4%€0.7m▼ 18.8%€1.3m▲ 101%€0.9m▼ 34.2%€1.0m▲ 18.2%
Working capital€1.1m-€1.2mabove the sector's middle half▲ 12.9%€1.3mabove the sector's middle half▲ 4.9%€1.5mabove the sector's middle half▲ 15.9%€1.3mabove the sector's middle half▼ 12.9%€1.3mabove the sector's middle half▲ 4.3%€1.7mabove the sector's middle half▲ 29.3%
Solvency66.4%-70.7%above the sector's middle half▲ 4.3pp60.2%within the sector's middle half▼ 10.5pp68.7%above the sector's middle half▲ 8.5pp49.1%within the sector's middle half▼ 19.6pp65.6%within the sector's middle half▲ 16.5pp66.3%within the sector's middle half▲ 0.7pp
Current ratio3.32-3.75above the sector's middle half▲ 0.432.66within the sector's middle half▼ 1.093.31above the sector's middle half▲ 0.651.97within the sector's middle half▼ 1.342.65within the sector's middle half▲ 0.682.71within the sector's middle half▲ 0.06
Return on assets (ROA)8.3%-9.2%within the sector's middle half▲ 0.9pp11.3%within the sector's middle half▲ 2.1pp10.4%within the sector's middle half▼ 0.9pp12.8%above the sector's middle half▲ 2.4pp15.2%above the sector's middle half▲ 2.4pp11.9%above the sector's middle half▼ 3.3pp
Staff (FTE)0.3-0.2below the sector's middle half▼ 33.3%0.1below the sector's middle half▼ 50.0%0.1below the sector's middle half=0.1below the sector's middle half=0.1below the sector's middle half=0.1below the sector's middle half=
above
within
below
The sector band is the middle half of the companies in Wholesale trade (NACE 46). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 5% lower than in 2024.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.1m
Fixed assets
€381,248 ▼ 13.6%
Current assets
€2.7m ▲ 27.7%
Equity and liabilities €3.1m
Equity
€2.1m ▲ 21.9%
Debt
€1.0m ▲ 18.2%
Debt's share of the balance-sheet total falls from 34.4% to 33.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€613,183▼
2024 · €616,245
Cash flow
€435,494▲
2024 · €433,222
Quick ratio
1.78▲
2024 · 1.24
Debt to equity
0.51▼
2024 · 0.52
ROE
18.0%▼
2024 · 23.2%
Interest coverage
80.64▲
2024 · 39.25
Debt ≤ 1 year
€1.0m▲
2024 · €803,539
Debt > 1 year
€41,436▼
2024 · €81,628
Income taxes
€173,510▼
2024 · €180,412
Staff costs
€6,692▲
2024 · €6,295
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 1 | 1 | 1 | 1 |
| full-time | - | - | 0 | 0 |
| part-time | 1 | 1 | 1 | 1 |
| in full-time equivalents | 0.1 | 0.1 | 0.1 | 0.1 |
| Average over the year, in full-time equivalents | 0.1 | 0.1 | 0.1 | 0.1 |
| On a permanent contract | 1 | 1 | 1 | 1 |
| Joined | - | - | 0 | 0 |
| Left | - | - | 0 | 0 |
| Training hours | - | - | 0 | 0 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €2,066 | €20,806 | €153,972 | €5,320 |
| Intangible fixed assets | - | - | €300,000 | - |
| Depreciation and write-downs of the year | €7,897 | €9,023 | €41,620 | €65,124 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 · 1 entry · €878 awarded · €878 paidAnnual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €5,093 | €5,470 | €6,295 | €6,692 | ▲ 6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,681 | €8,310 | €6,455 | €7,897 | €9,023 | €41,620 | €65,124 | ▲ 56.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €11,297 | €16,226 | €10,413 | -€10,642 | - |
| Other operating charges640/8 | - | - | - | €2,181 | €2,665 | €3,328 | €6,171 | ▲ 85.4% |
| Gross operating margin9900 | €253,406 | €264,643 | €360,867 | €358,711 | €533,021 | €636,281 | €615,404 | ▼ 3.3% |
| Operating profit (loss)9901 | €211,395 | €238,715 | €347,888 | €332,242 | €499,637 | €574,625 | €548,059 | ▼ 4.6% |
| Financial income75/76B | - | - | - | €190 | €124 | €13,089 | €3,425 | ▼ 73.8% |
| Recurring financial income75 | €2,775 | €1,004 | €636 | €190 | €124 | €4,939 | €3,425 | ▼ 30.7% |
| Non-recurring financial income76B | - | - | - | - | - | €8,150 | €0 | ▼ 100% |
| Financial charges65/66B | - | - | - | €4,557 | €6,542 | €15,701 | €7,604 | ▼ 51.6% |
| Recurring financial charges65 | €6,033 | €7,251 | €5,494 | €4,557 | €6,542 | €15,701 | €7,604 | ▼ 51.6% |
| Profit (loss) for the period before taxes9903 | €208,137 | €232,468 | €343,030 | €327,875 | €493,219 | €572,014 | €543,880 | ▼ 4.9% |
| Income taxes67/77 | €78,293 | €76,289 | €108,887 | €104,631 | €154,545 | €180,412 | €173,510 | ▼ 3.8% |
| Profit (loss) for the period9904 | €129,844 | €156,179 | €234,143 | €223,244 | €338,674 | €391,602 | €370,370 | ▼ 5.4% |
| Transfer from tax-exempt reserves789 | - | - | - | €3,176 | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €125,673 | €152,854 | €234,143 | €226,420 | €338,674 | €391,602 | €370,370 | ▼ 5.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €1.6m | €1.7m | €2.1m | €2.1m | €2.6m | €2.6m | €3.1m | ▲ 20.7% |
| Fixed assets21/28 | €0.05m | €0.06m | €0.05m | €0.04m | €0.05m | €0.4m | €0.4m | ▼ 13.6% |
| Intangible fixed assets21 | - | - | - | - | - | €0.3m | €0.2m | ▼ 11.1% |
| Tangible fixed assets22/27 | €0.05m | €0.06m | €0.05m | €0.04m | €0.05m | €0.2m | €0.1m | ▼ 17.4% |
| Land and buildings22 | - | - | - | - | - | €0.02m | €0.02m | ▼ 14.3% |
| Plant, machinery and equipment23 | - | - | - | €369 | €0.002m | €0.006m | €0.003m | ▼ 42.5% |
| Furniture and vehicles24 | - | - | - | €0.01m | €0.006m | €0.1m | €0.1m | ▼ 17.6% |
| Other tangible fixed assets26 | - | - | - | €0.03m | €0.05m | €0.02m | €0.01m | ▼ 11.9% |
| Financial fixed assets28 | €50 | €50 | €50 | €50 | €50 | €50 | €50 | = |
| Current assets29/58 | €1.5m | €1.6m | €2.0m | €2.1m | €2.6m | €2.1m | €2.7m | ▲ 27.7% |
| Stocks and contracts in progress3 | €0.7m | €0.8m | €0.6m | €0.9m | €0.9m | €1.1m | €0.9m | ▼ 17.7% |
| Stocks30/36 | - | - | - | €0.9m | €0.9m | €1.1m | €0.9m | ▼ 17.7% |
| Amounts receivable within one year40/41 | €0.5m | €0.7m | €0.8m | €0.7m | €1.1m | €0.8m | €1.3m | ▲ 65.9% |
| Trade receivables40 | - | - | - | €0.7m | €0.8m | €0.8m | €1.2m | ▲ 65.6% |
| Other amounts receivable41 | - | - | - | €0.02m | €0.3m | €0.004m | €0.009m | ▲ 123% |
| Cash at bank and in hand54/58 | €0.3m | €0.1m | €0.6m | €0.5m | €0.5m | €0.2m | €0.5m | ▲ 134% |
| Deferred charges and accrued income490/1 | - | - | - | €0.03m | €0.02m | €0.01m | €0.01m | ▼ 29.9% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €1.6m | €1.7m | €2.1m | €2.1m | €2.6m | €2.6m | €3.1m | ▲ 20.7% |
| Equity10/15 | €1.0m | €1.2m | €1.2m | €1.5m | €1.3m | €1.7m | €2.1m | ▲ 21.9% |
| Contributions10/11 | €0.02m | - | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.9m | €1.0m | €1.1m | €1.3m | €1.1m | €1.5m | €1.9m | ▲ 24.8% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0 | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0 | - | - |
| Tax-exempt reserves132 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Distributable reserves133 | - | - | - | €1.3m | €1.1m | €1.5m | €1.9m | ▲ 25.0% |
| Profit (loss) carried forward14 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Amounts payable17/49 | €0.5m | €0.5m | €0.8m | €0.7m | €1.3m | €0.9m | €1.0m | ▲ 18.2% |
| Amounts payable after more than one year17 | €0.07m | €0.06m | €0.06m | €0.04m | €0.03m | €0.08m | €0.04m | ▼ 49.2% |
| Financial debts170/4 | - | - | - | €0.04m | €0.03m | €0.08m | €0.04m | ▼ 49.2% |
| Amounts payable within one year42/48 | €0.5m | €0.4m | €0.8m | €0.6m | €1.3m | €0.8m | €1.0m | ▲ 25.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.03m | €0.1m | €0.2m | €0.02m | ▼ 87.9% |
| Trade debts44 | €0.4m | €0.4m | €0.5m | €0.5m | €0.7m | €0.5m | €0.8m | ▲ 75.9% |
| Suppliers440/4 | - | - | - | €0.5m | €0.7m | €0.5m | €0.8m | ▲ 75.9% |
| Taxes, remuneration and social security45 | - | - | - | €0.06m | €0.03m | €0.02m | €0.01m | ▼ 53.8% |
| Taxes450/3 | - | - | - | €0.06m | €0.03m | €0.01m | €0.007m | ▼ 43.5% |
| Remuneration and social security454/9 | - | - | - | €0.001m | €0.001m | €0.008m | €0.002m | ▼ 69.7% |
| Other amounts payable47/48 | - | - | - | €0.01m | €0.5m | €0.1m | €0.2m | ▲ 28.5% |
| Accrued charges and deferred income492/3 | - | - | - | - | €0.001m | €196 | €0 | ▼ 100% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €129,844 | €156,179 | €234,143 | €223,244 | €338,674 | €391,602 | €370,370 | ▼ 5.4% |
| + Depreciation and write-downs630 | €9,681 | €8,310 | €6,455 | €7,897 | €9,023 | €41,620 | €65,124 | ▲ 56.5% |
| Operating cash flow (approximation) | €139,525 | €164,490 | €240,599 | €231,141 | €347,697 | €433,222 | €435,494 | ▲ 0.5% |
| Investment in fixed assets (approximation) | - | -€17,896 | €4,316 | -€2,066 | -€20,806 | -€429,122 | -€5,320 | ▲ 98.8% |
| Change in cash | - | -€182,041 | €468,289 | -€131,818 | €76,483 | -€308,137 | €300,216 | - |
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, 34,693 companies had the same profile as ARNIMEX has now. Two years later, 95.3% were still going and 0.7% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.3%
was still going
3.9%
stopped otherwise
0.7%
went bankrupt
That fits the bankruptcy probability of ARNIMEX 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 34,693 companies, not a prediction for ARNIMEX. 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 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | abbreviated format | 22-01-2026 | 2026-00014439 | |
| 30-06-2024 | abbreviated format | 30-01-2025 | 2025-00025921 | |
| 30-06-2023 | abbreviated format | 30-01-2024 | 2024-00016060 | |
| 30-06-2022 | abbreviated format | 24-01-2023 | 2023-00005609 | |
| 30-06-2021 | abbreviated format | 31-01-2022 | 2022-03600206 | |
| 30-06-2020 | abbreviated format | 23-02-2021 | 2021-06000455 | |
| 30-06-2019 | abbreviated format | 15-01-2020 | 2020-01300025 | |
| 30-06-2018 | abbreviated format | 15-01-2019 | 2019-01500374 | |
| 30-06-2017 | abbreviated format | 12-01-2018 | 2018-01000080 | |
| 30-06-2016 | abbreviated format | 16-01-2017 | 2017-01300360 |