ARO
InactiveFrom the official registers: KBO 8 annual accounts at the National Bank publications in the Belgian Official Gazette
Overview
Official details
KBO- Status
- Inactive
- Activity
- No activity registered in the KBO
- Financial year end
- 31 December
- Peppol
- Not found in the Peppol Directory
How it is doing
Inactive: no score
Annual accounts 2014
- Turnover
- €7.4m
- ▲ 11.0%
- Loss
- €748,799
- Equity
- €546,342
- ▼ 57.8%
- Total assets
- €9.8m
- ▼ 4.5%
- Staff
- 53.1 FTE
- ▼ 5.7%
Filed on 12-11-2015PDF
Signalsraises risk2014 accounts filed 104 days lateneutralEarlier reorganisation (closed)No filing for yearsShow the evidence
Signals
Three signals.
raises riskneutral
neutral · No filing for years
The last filed financial year closed on 31-12-2014. Since then, 11 financial years are missing. This points to a standstill, not an imminent failure.
NBB · 8 filingsPosition against the passed deadline
31-12-2015 year end31-07-2016 deadline01-11-2026 today
raises risk · 2014 accounts filed 104 days late
The financial year that closed on 31-12-2014 was due by 31-07-2015 and was filed on 12-11-2015, 104 days past the deadline. Measured on financial year 2023: of the companies more than 90 days late, 5.61% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers.
NBB · 8 filingsDeviation from the deadline
2014
104 days late
2013
40 days late
2012
28 days late
2011
25 days early
2010
25 days early
2009
32 days early
2008
51 days early
← before the deadline
after the deadline →
Searched, nothing found (1)
Financials · financial year 2014, full format
Latest annual accounts filed
Annual accounts 2014
- Financial year ended
- 31-12-2014
- Filed on
- 12-11-2015
- Format
- full format
- Reference
- 2015-66700599
Turnover
€7.4m▲ 11.0%
2013 · €6.6m
EBIT margin
-3.9%▲ 7.7pp
2013 · -11.5%
Net result
-€748,799
2013 · €1.1m
Working capital
-€3.5m
2013 · €197,613
Trend over the years
2010 to 2014, 4 financial years 2010 to 2014, 4 financial years
The operating result stays negative: a loss of €284,581 in 2014 against €765,930 in 2013; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Turnover€7.4m
2014
Operating result-€0.3m
2014
Net result-€0.7m
2014
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€9.8m
2014
Equity€0.5m
2014
Debt€9.2m
2014
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€3.5m
2014
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
EBIT margin-3.9%
2014
Average staff in full-time equivalents (FTE).
Staff (FTE)53.1
2014
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line2010201120132014
Turnover€6.6m-€7.4m▲ 11.0%
Operating result-€0.005m--€0.004m▲ 9.9%-€0.8m--€0.3m▲ 62.8%
Net result-€0.2m--€0.2m▲ 7.2%€1.1m--€0.7m
EBIT margin-11.5%--3.9%▲ 7.7pp
Equity€1.5m-€1.3m▼ 13.7%€1.3m-€0.5m▼ 57.8%
Total assets€3.8m-€3.8m=€10.3m-€9.8m▼ 4.5%
Debt€2.3m-€2.5m▲ 9.1%€8.9m-€9.2m▲ 3.4%
Working capital-€0.5m--€0.6m▼ 35.7%€0.2m--€3.5m
Staff (FTE)56.3-53.1▼ 5.7%
Balance-sheet composition
2014 in colour, 2013 as the grey bar beneath
Assets €9.8m
Fixed assets
€5.9m ▼ 8.5%
Current assets
€3.9m ▲ 2.3%
Equity and liabilities €9.8m
Equity
€546,342 ▼ 57.8%
Provisions
€41,232 ▼ 18.3%
Debt
€9.2m ▲ 3.4%
Debt's share of the balance-sheet total rises from 86.9% to 94.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€584,725▲
2013 · €82,745
Cash flow
€120,507▼
2013 · €2.0m
Current ratio
0.53▼
2013 · 1.05
Quick ratio
0.31▼
2013 · 0.64
Debt to equity
3.31▼
2013 · 4.10
ROE
-137.1%▼
2013 · 87.5%
ROA
-7.6%▼
2013 · 11.0%
Interest coverage
1.96▲
2013 · 0.28
Debt ≤ 1 year
€7.4m▲
2013 · €3.6m
Debt > 1 year
€1.8m▼
2013 · €5.3m
Income taxes
€1,738▲
2013 · €1,629
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2010 | 2011 | 2013 | 2014 | Change |
|---|---|---|---|---|---|
| Turnover70 | - | - | €6.6m | €7.4m | ▲ 11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €0.8m | €0.9m | ▲ 2.4% |
| Operating profit (loss)9901 | -€0.005m | -€0.004m | -€0.8m | -€0.3m | ▲ 62.8% |
| Recurring financial income75 | - | - | €0.02m | €0.02m | ▲ 0.1% |
| Recurring financial charges65 | €0.2m | €0.2m | €0.4m | €0.4m | ▲ 1.7% |
| Debt charges650 | €0.2m | €0.2m | €0.3m | €0.3m | ▼ 0.6% |
| Profit (loss) for the period before taxes9903 | -€0.2m | -€0.2m | €1.1m | -€0.7m | - |
| Income taxes67/77 | - | - | €0.002m | €0.002m | ▲ 6.7% |
| Profit (loss) for the period9904 | -€0.2m | -€0.2m | €1.1m | -€0.7m | - |
| Profit (loss) for the period to be appropriated9905 | -€0.2m | -€0.2m | -€1.3m | -€0.7m | ▲ 43.1% |
| Line | 2010 | 2011 | 2013 | 2014 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €3.8m | €3.8m | €10.3m | €9.8m | ▼ 4.5% |
| Fixed assets21/28 | €3.8m | €3.8m | €6.5m | €5.9m | ▼ 8.5% |
| Intangible fixed assets21 | - | - | €4.5m | €3.9m | ▼ 13.0% |
| Tangible fixed assets22/27 | - | - | €2.0m | €2.0m | ▲ 1.7% |
| Financial fixed assets28 | €3.8m | €3.8m | €0.006m | €0.01m | ▲ 103% |
| Current assets29/58 | €0.001m | €0.001m | €3.8m | €3.9m | ▲ 2.3% |
| Stocks and contracts in progress3 | - | - | €1.5m | €1.6m | ▲ 7.6% |
| Amounts receivable within one year40/41 | - | - | €2.0m | €1.7m | ▼ 15.1% |
| Cash at bank and in hand54/58 | €0.001m | €0.001m | €0.02m | €0.1m | ▲ 566% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €3.8m | €3.8m | €10.3m | €9.8m | ▼ 4.5% |
| Equity10/15 | €1.5m | €1.3m | €1.3m | €0.5m | ▼ 57.8% |
| Contributions10/11 | €1.4m | €1.4m | €1.4m | €1.4m | = |
| Reserves13 | €0.03m | €0.03m | €2.5m | €2.5m | = |
| Profit (loss) carried forward14 | €0.1m | -€0.1m | -€2.6m | -€3.3m | ▼ 29.0% |
| Provisions and deferred taxes16 | - | - | €0.05m | €0.04m | ▼ 18.3% |
| Amounts payable17/49 | €2.3m | €2.5m | €8.9m | €9.2m | ▲ 3.4% |
| Amounts payable after more than one year17 | €1.8m | €1.8m | €5.3m | €1.8m | ▼ 66.0% |
| Amounts payable within one year42/48 | €0.5m | €0.6m | €3.6m | €7.4m | ▲ 105% |
| Trade debts44 | €0.001m | €0.001m | €0.2m | €0.4m | ▲ 122% |
| Line | 2010 | 2011 | 2013 | 2014 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.2m | -€0.2m | €1.1m | -€0.7m | - |
| + Depreciation and write-downs630 | - | - | €0.8m | €0.9m | ▲ 2.4% |
| Operating cash flow (approximation) | -€0.2m | -€0.2m | €2.0m | €0.1m | ▼ 93.9% |
| Investment in fixed assets (approximation) | - | €0 | - | -€0.3m | - |
| Change in cash | - | €63 | - | €0.1m | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (8)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2014 | full format | 12-11-2015 | 2015-66700599 | |
| 31-12-2013 | full format | 09-09-2014 | 2014-58100599 | |
| 31-12-2012 | full format | 28-08-2013 | 2013-48300591 | |
| 31-12-2011 | full format | 06-07-2012 | 2012-26600344 | |
| 31-12-2010 | full format | 06-07-2011 | 2011-26300251 | |
| 31-12-2009 | full format | 29-06-2010 | 2010-23400499 | |
| 31-12-2008 | full format | 10-06-2009 | 2009-21700257 | |
| 31-12-2007 | full format | 02-06-2008 | 2008-18600149 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Directors
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Trustee | Mr Vanhoucke Guy Anselmostraat 2, 2018 Antwerpen 1 |
10-06-2016 → 15-09-2020 |
Owners and capital
Owners
Group and network
Connections & network
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Board mandates elsewhere
1 board mandateBoard mandates of this companythis company sits on their board1
1 location
History
Acts, filings and financial milestones
2020
18-09
Bankruptcy
Bankruptcy closure (by liquidation)
Enterprise Court of Antwerp, Antwerp division · judgment of 15-09-2020
2016
14-06
Bankruptcy
Opening
Commercial Court of Antwerp, Antwerp division · judgment of 10-06-2016
2015
18-12
Judicial reorganisation
Transfer under judicial authority
Commercial Court of Antwerp · court-supervised transfer
12-11
financial year 2014 · full format · 104 days late
2014
31-12
Financial
Weakest financial yearnet -€748,799
Net result drops to -€748,799, the lowest in the series.
09-09
financial year 2013 · full format · 40 days late
2013
31-12
Financial
Back to profitnet €1.1m
Net result €1.1m after 2 loss-making years.
31-12
Financial
Liquidity more than 650 timescurrent ratio 1.05
Current ratio from 0.00 to 1.05.
28-08
financial year 2012 · full format · 28 days late
2012
06-07
financial year 2011 · full format
2011
06-07
financial year 2010 · full format
2010
29-06
financial year 2009 · full format
2009
10-06
financial year 2008 · full format
2008
02-06
financial year 2007 · full format
SignalFinancial milestoneNBB filingFinancial milestones sit on the financial year-end date, not the filing date.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
Inactive
Inactive
ARO is no longer in the KBO register.
- Status
- Inactive
- Last annual accounts
- financial year to 31 December 2014
- Last registered office
- Energieweg 11, 2390 Malleas published on 25 November 2015
- Legal form
- Public limited company
- First annual accounts
- financial year 2007