ARSES
ActiveSummary
ARSES has been active since 2001 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-38k) and a net result of €-1k. Equity is shrinking by ~26.7% per year across the filed fiscal years. Its solvency ranks better than 5% of 63 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is < 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency0=
Growth58=
Track record100
Bankruptcy probability, 12 months
< 0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
balance sheet total too small for a liquidity verdict, and equity is negative.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 91
Relative position
BE, all sectors
reference
Libraries, archives, museums and other cultural activities (NACE 91)
about 68% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Age of the figures
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
202122232425
2020 to 2025 · latest year €-38k
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 30-06-2026, 31 days ahead of the deadline.
NBB · 6 filingsDeviation from the deadline
2025
31 d early
2024
31 d early
2023
12 d late
2022
10 d late
2021
30 d early
2020
3 d late
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€-38k▼ 3.4%
2024 · €-37k
Total assets
€2k▼ 1.7%
2024 · €2k
Net result
€-1k▲ 54.1%
2024 · €-3k
Working capital
€-39k▼ 3.0%
2024 · €-38k
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€-7k▼ 75.8%€-22k▼ 202%€-7k▲ 66.9%€-3k▲ 63.0%€-1k▲ 56.5%
Net result€-7k▲ 41.1%€-22k▼ 199%€-7k▲ 66.4%€-3k▲ 62.3%€-1k▲ 54.1%
Equity€-5k€-27k▼ 452%€-34k▼ 27.5%€-37k▼ 8.1%€-38k▼ 3.4%
Total assets€6k▼ 44.2%€5k▼ 24.7%€2k▼ 51.3%€2k▼ 11.4%€2k▼ 1.7%
Debt€11k▲ 29.3%€31k▲ 186%€36k▲ 15.9%€39k▲ 6.9%€40k▲ 3.2%
Working capital€-6k€-28k▼ 356%€-35k▼ 25.8%€-38k▼ 7.5%€-39k▼ 3.0%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €1k in 2025 against €3k in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2k
Fixed assets
€630 ▼ 19.9%
Current assets
€1k ▲ 10.4%
Key figures and ratios
EBITDA
€-1k▲
2024 · €-3k
Cash flow
€-1k▲
2024 · €-3k
Interest coverage
-9.14▲
2024 · -24.65
Debt ≤ 1 year
€40k▲
2024 · €39k
Ratios withheld: a balance sheet total of €2k is too small for a meaningful ratio.
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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €981 | €158 | €158 | €158 | €158 | = |
| Non-recurring operating charges66A | - | - | €1k | - | - | - |
| Gross operating margin9900 | €-6k | €-22k | €-6k | €-3k | €-1k | ▲ 60.0% |
| Operating profit (loss)9901 | €-7k | €-22k | €-7k | €-3k | €-1k | ▲ 56.5% |
| Financial income75/76B | - | €6 | - | - | - | - |
| Recurring financial income75 | - | €6 | - | - | - | - |
| Financial charges65/66B | €90 | €123 | €143 | €102 | €110 | ▲ 7.8% |
| Recurring financial charges65 | €90 | €123 | €143 | €102 | €110 | ▲ 7.8% |
| Profit (loss) for the period before taxes9903 | €-7k | €-22k | €-7k | €-3k | €-1k | ▲ 54.1% |
| Profit (loss) for the period9904 | €-7k | €-22k | €-7k | €-3k | €-1k | ▲ 54.1% |
| Profit (loss) for the period to be appropriated9905 | €-7k | €-22k | €-7k | €-3k | €-1k | ▲ 54.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €6k | €5k | €2k | €2k | €2k | ▼ 1.7% |
| Fixed assets21/28 | €1k | €1k | €945 | €787 | €630 | ▼ 19.9% |
| Tangible fixed assets22/27 | €1k | €1k | €945 | €787 | €630 | ▼ 19.9% |
| Plant, machinery and equipment23 | €1k | €1k | €945 | €787 | €630 | ▼ 19.9% |
| Current assets29/58 | €5k | €3k | €1k | €1k | €1k | ▲ 10.4% |
| Amounts receivable within one year40/41 | €3k | €3k | €1k | €500 | €1k | ▲ 119% |
| Trade receivables40 | €2k | €2k | €345 | €393 | €938 | ▲ 139% |
| Other amounts receivable41 | €777 | €240 | €805 | €107 | €159 | ▲ 48.6% |
| Cash at bank and in hand54/58 | €618 | €904 | €145 | €648 | €225 | ▼ 65.3% |
| Deferred charges and accrued income490/1 | €1k | - | - | €50 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €6k | €5k | €2k | €2k | €2k | ▼ 1.7% |
| Equity10/15 | €-5k | €-27k | €-34k | €-37k | €-38k | ▼ 3.4% |
| Profit (loss) carried forward14 | €-5k | €-27k | €-34k | €-37k | €-38k | ▼ 3.4% |
| Amounts payable17/49 | €11k | €31k | €36k | €39k | €40k | ▲ 3.2% |
| Amounts payable within one year42/48 | €11k | €31k | €36k | €39k | €40k | ▲ 3.2% |
| Trade debts44 | €691 | €18 | €272 | - | €400 | - |
| Suppliers440/4 | €691 | €18 | €272 | - | €400 | - |
| Taxes, remuneration and social security45 | €31 | - | €24 | €24 | - | - |
| Taxes450/3 | €31 | - | €24 | €24 | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-7k | €-22k | €-7k | €-3k | €-1k | ▲ 54.1% |
| + Depreciation and write-downs630 | €981 | €158 | €158 | €158 | €158 | = |
| Operating cash flow (approximation) | €-6k | €-22k | €-7k | €-3k | €-1k | ▲ 57.4% |
| Investment in fixed assets (approximation) | - | €-1 | €0 | €0 | €-1 | - |
| Change in cash | - | €286 | €-759 | €503 | €-423 | ▼ 184% |
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
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
12-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 12 days late
2023
10-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 10 days late
2022
31-12
Financial
Weakest financial yearnet €-22k
Net result drops to €-22k, the lowest in the series; recovery starts the following year.
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
03-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 3 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, Mons
Ground area
168 m²
Building footprint
60 m²
Parcel 53053D0218/00N030, Wallonia. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 53053D0218/00N030 | Wallonia | 168 m² | 1 · 60 m² | - |
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.
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Of 730 companies in sector 91110 we hold annual accounts for 397. 9 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formNon-profit association
Founded15-08-2001
Fiscal year end31-12
Activities, NACEBEL 2025
91110Libraries, archives, museums and other cultural activities
Scores and ratios are computed by Checked and are not a credit decision.