ARS
ActiveSummary
The computed 12-month bankruptcy probability of ARS is 2.8% (moderate). The 2025 annual accounts show equity of €191,960 and a net result of €320,078. Equity is growing by ~23.5% per year across the filed fiscal years. Its solvency ranks better than 39% of 13484 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency43▼-11
Growth78=
Track record100
Bankruptcy probability, 12 months
2.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days acceptable
Liquidity short (current ratio 0.74 against 1.07 in 2024; short-term debt: 46.3% and cash: 24.9% of total assets), and 82.3% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 56
Relative position
BE, all sectors
reference
Food and beverage service activities (NACE 56)
about 206% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
17.7%
Return on assets
29.6%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 08-07-2026, 23 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
23 d early
2024
30 d early
2023
1 d early
2022
14 d early
2021
16 d early
2020
90 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 1 day after the deadline; the sector median for financial year 2024 is 6 days after the deadline, and 52% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€191,960▼ 30.9%
2024 · €277,891
Total assets
€1.1m▲ 12.2%
2024 · €963,929
Net result
€320,078▼ 9.4%
2024 · €353,429
Working capital
-€130,424
2024 · €24,469
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€61,458▼ 47.8%€74,330▲ 20.9%€263,276▲ 254%€500,577▲ 90.1%€454,084▼ 9.3%
Net result€48,086▼ 42.3%€53,649▲ 11.6%€191,990▲ 258%€353,429▲ 84.1%€320,078▼ 9.4%
Equity€141,453▲ 51.5%€195,103▲ 37.9%€263,872▲ 35.2%€277,891▲ 5.3%€191,960▼ 30.9%
Total assets€341,088▲ 59.3%€340,522▼ 0.2%€427,873▲ 25.7%€963,929▲ 125%€1.1m▲ 12.2%
Debt€199,635▲ 65.3%€145,420▼ 27.2%€164,001▲ 12.8%€686,038▲ 318%€889,878▲ 29.7%
Working capital€60,346▼ 35.5%€97,638▲ 61.8%€148,968▲ 52.6%€24,469▼ 83.6%-€130,424
Staff (FTE)16.8▲ 200%14.9▼ 11.3%19.3▲ 29.5%22.4▲ 16.1%22.6▲ 0.9%
Turnover and EBIT margin not published: the micro schema does not require them.
Why a figure moved sharply
- 2024 Net result +84%, Total assets +125% on 2023. Cause not known from the registers.
- 2023 Net result +258% on 2022. Cause not known from the registers.
- 2021 Total assets +59%, Staff (FTE) +200% on 2020. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 9% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.1m
Fixed assets
€710,900 ▲ 17.2%
Current assets
€370,938 ▲ 3.8%
Equity and liabilities €1.1m
Equity
€191,960 ▼ 30.9%
Debt
€889,878 ▲ 29.7%
Debt's share of the balance-sheet total rises from 71.2% to 82.3%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€540,126▼
2024 · €613,578
Cash flow
€406,120▼
2024 · €466,430
Current ratio
0.74▼
2024 · 1.07
Quick ratio
0.71▼
2024 · 1.03
Debt to equity
4.64▲
2024 · 2.47
ROE
166.7%▲
2024 · 127.2%
ROA
29.6%▼
2024 · 36.7%
Interest coverage
19.20▼
2024 · 33.12
Debt ≤ 1 year
€501,363▲
2024 · €332,883
Debt > 1 year
€388,516▲
2024 · €353,155
Income taxes
€105,875▼
2024 · €121,067
Staff costs
€565,126▲
2024 · €433,603
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €294,546 | €248,072 | €365,758 | €433,603 | €565,126 | ▲ 30.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €18,225 | €34,723 | €46,016 | €113,001 | €86,042 | ▼ 23.9% |
| Other operating charges640/8 | €11,501 | €1,828 | €2,687 | €5,349 | €5,706 | ▲ 6.7% |
| Gross operating margin9900 | €385,729 | €358,953 | €677,736 | €1.1m | €1.1m | ▲ 5.6% |
| Operating profit (loss)9901 | €61,458 | €74,330 | €263,276 | €500,577 | €454,084 | ▼ 9.3% |
| Financial income75/76B | €266 | €14 | €40 | €583 | €5 | ▼ 99.1% |
| Recurring financial income75 | €266 | €14 | €40 | €583 | €5 | ▼ 99.1% |
| Financial charges65/66B | €3,747 | €4,988 | €6,511 | €26,663 | €28,136 | ▲ 5.5% |
| Recurring financial charges65 | €3,747 | €4,988 | €6,511 | €18,525 | €28,136 | ▲ 51.9% |
| Non-recurring financial charges66B | - | - | - | €8,139 | - | - |
| Profit (loss) for the period before taxes9903 | €57,976 | €69,356 | €256,805 | €474,496 | €425,953 | ▼ 10.2% |
| Income taxes67/77 | €9,890 | €15,707 | €64,815 | €121,067 | €105,875 | ▼ 12.5% |
| Profit (loss) for the period9904 | €48,086 | €53,649 | €191,990 | €353,429 | €320,078 | ▼ 9.4% |
| Profit (loss) for the period to be appropriated9905 | €48,086 | €53,649 | €191,990 | €353,429 | €320,078 | ▼ 9.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €341,088 | €340,522 | €427,873 | €963,929 | €1.1m | ▲ 12.2% |
| Fixed assets21/28 | €137,601 | €138,498 | €142,061 | €606,577 | €710,900 | ▲ 17.2% |
| Intangible fixed assets21 | €13,500 | €12,000 | €10,500 | €9,000 | €7,500 | ▼ 16.7% |
| Tangible fixed assets22/27 | €124,101 | €126,498 | €131,561 | €597,577 | €703,400 | ▲ 17.7% |
| Land and buildings22 | - | - | - | €448,372 | €437,332 | ▼ 2.5% |
| Plant, machinery and equipment23 | €15,171 | €11,288 | €22,133 | €35,511 | €51,137 | ▲ 44.0% |
| Furniture and vehicles24 | €24,355 | €31,318 | €39,864 | €34,815 | €40,299 | ▲ 15.8% |
| Other tangible fixed assets26 | €84,575 | €83,892 | €69,563 | €78,879 | €174,632 | ▲ 121% |
| Current assets29/58 | €203,487 | €202,024 | €285,812 | €357,352 | €370,938 | ▲ 3.8% |
| Stocks and contracts in progress3 | €5,740 | €10,165 | €11,452 | €13,680 | €14,483 | ▲ 5.9% |
| Stocks30/36 | €5,740 | €10,165 | €11,452 | €13,680 | €14,483 | ▲ 5.9% |
| Amounts receivable within one year40/41 | €25,029 | €26,601 | €43,555 | €66,298 | €81,449 | ▲ 22.9% |
| Trade receivables40 | - | €12,769 | €1,536 | €4,981 | €132 | ▼ 97.4% |
| Other amounts receivable41 | €25,029 | €13,832 | €42,019 | €61,317 | €81,317 | ▲ 32.6% |
| Cash at bank and in hand54/58 | €172,602 | €164,334 | €229,245 | €273,333 | €269,833 | ▼ 1.3% |
| Deferred charges and accrued income490/1 | €117 | €924 | €1,561 | €4,041 | €5,174 | ▲ 28.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €341,088 | €340,522 | €427,873 | €963,929 | €1.1m | ▲ 12.2% |
| Equity10/15 | €141,453 | €195,103 | €263,872 | €277,891 | €191,960 | ▼ 30.9% |
| Contributions10/11 | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Reserves13 | €83,367 | €83,367 | €61,882 | €61,882 | €61,882 | = |
| Distributable reserves133 | €83,367 | €83,367 | €61,882 | €61,882 | €61,882 | = |
| Profit (loss) carried forward14 | €48,086 | €101,735 | €191,990 | €206,009 | €120,078 | ▼ 41.7% |
| Amounts payable17/49 | €199,635 | €145,420 | €164,001 | €686,038 | €889,878 | ▲ 29.7% |
| Amounts payable after more than one year17 | €56,494 | €41,033 | €27,100 | €353,155 | €388,516 | ▲ 10.0% |
| Financial debts170/4 | €56,494 | €41,033 | €27,100 | €353,155 | €388,516 | ▲ 10.0% |
| Amounts payable within one year42/48 | €143,141 | €104,387 | €136,844 | €332,883 | €501,363 | ▲ 50.6% |
| Current portion of amounts payable after more than one year42 | €11,631 | €13,632 | €13,933 | €32,895 | €54,082 | ▲ 64.4% |
| Trade debts44 | €50,689 | €39,114 | €46,250 | €73,115 | €56,931 | ▼ 22.1% |
| Suppliers440/4 | €50,689 | €39,114 | €46,250 | €73,115 | €56,931 | ▼ 22.1% |
| Advances received on contracts in progress46 | - | - | - | - | €132 | - |
| Taxes, remuneration and social security45 | €80,821 | €49,734 | €75,071 | €79,454 | €96,029 | ▲ 20.9% |
| Taxes450/3 | €45,321 | €17,526 | €36,068 | €31,846 | €37,574 | ▲ 18.0% |
| Remuneration and social security454/9 | €35,500 | €32,209 | €39,004 | €47,608 | €58,456 | ▲ 22.8% |
| Other amounts payable47/48 | - | €1,906 | €1,590 | €147,420 | €294,188 | ▲ 99.6% |
| Accrued charges and deferred income492/3 | - | - | €56 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €48,086 | €53,649 | €191,990 | €353,429 | €320,078 | ▼ 9.4% |
| + Depreciation and write-downs630 | €18,225 | €34,723 | €46,016 | €113,001 | €86,042 | ▼ 23.9% |
| Operating cash flow (approximation) | €66,311 | €88,372 | €238,005 | €466,430 | €406,120 | ▼ 12.9% |
| Investment in fixed assets (approximation) | - | -€35,620 | -€49,578 | -€577,517 | -€190,366 | ▲ 67.0% |
| Change in cash | - | -€8,268 | €64,911 | €44,088 | -€3,500 | ▼ 108% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
08-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
01-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Highest result since 2020net €353,429 ▲84.1%
Operating result €500,577, net result €353,429, both a record.
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €200,000Eq €263,872 ▲35.2%
4 profitable years in a row build equity to €263,872.
17-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Equity above €150,000Eq €195,103 ▲37.9%
3 profitable years in a row build equity to €195,103.
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet €48,086 ▼42.3%
Net result drops to €48,086, the lowest in the series; recovery starts the following year.
31-12
Financial
Equity above €100,000Eq €141,453 ▲51.5%
2 profitable years in a row build equity to €141,453.
29-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 90 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Oud-Turnhout · 1 establishment unit since 2019
Ground area
268 m²
Building footprint
122 m²
Volume, LiDAR
767 m³
Parcel 13482F0434/00R000, Flanders · tallest building 12.4 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Sushi King Turnhout
since 20192.291.303.613
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13482F0434/00R000 | Flanders | 268 m² | 1 · 122 m² | 12.4 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteOud-Turnhout2.291.303.613
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Of 1,350 companies in sector 56220 we hold annual accounts for 406. 278 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded06-07-2019
Fiscal year end31-12
Activities, NACEBEL 2025
56112Limited-service restaurants, excluding mobile food services
56220Contract catering and other food service activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0729873728
Also
9925:BE0729873728
Registered
24-12-2025
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.