ARSH
ActiveSummary
ARSH has been active since 1996 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €35,182 and a net result of €266. Equity is growing by ~9.6% per year across the filed fiscal years. Its solvency ranks better than 95% of 4695 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.5% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability71▲+3
Solvency100=
Growth48=
Track record100
Bankruptcy probability, 12 months
1.5%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2,000 at 30 days acceptable
Liquidity ample (current ratio 7.8 against 15.49 in 2024; short-term debt: 7.5% and cash: 1.2% of total assets), and 7.5% of the assets are financed with debt.
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Signals
Five 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 49
Relative position
BE, all sectors
reference
Land transport and transport via pipelines (NACE 49)
about 141% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
92.5%
Return on assets
0.7%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-08-2026, 24 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
24 d late
2024
6 d early
2023
2 d late
2022
24 d late
2021
19 d late
2020
31 d late
2019
69 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 23 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 49% 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
Turnover
€39,364▲ 0.9%
2024 · €39,013
EBIT margin
1.5%▼ 1.2pp
2024 · 2.7%
Net result
€266▼ 59.6%
2024 · €657
Working capital
€19,382▲ 34.4%
2024 · €14,417
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
Turnover€39,013€39,364▲ 0.9%
Operating result€19,476▲ 589%€2,452▼ 87.4%€609▼ 75.2%€1,067▲ 75.3%€586▼ 45.1%
Net result€19,398▲ 669%€2,243▼ 88.4%€358▼ 84.0%€657▲ 83.3%€266▼ 59.6%
EBIT margin2.7%1.5%▼ 1.2pp
Equity€41,875▲ 86.3%€44,002▲ 5.1%€45,260▲ 2.9%€34,917▼ 22.9%€35,182▲ 0.8%
Total assets€42,380▲ 67.1%€45,134▲ 6.5%€45,260▲ 0.3%€35,912▼ 20.7%€38,032▲ 5.9%
Debt€505▼ 82.5%€1,132▲ 124%€995€2,850▲ 186%
Working capital€36,387▲ 151%€38,513▲ 5.8%€14,417€19,382▲ 34.4%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 45% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €38,032
Fixed assets
€15,800 ▼ 22.9%
Current assets
€22,232 ▲ 44.3%
Equity and liabilities €38,032
Equity
€35,182 ▲ 0.8%
Debt
€2,850 ▲ 186%
Debt's share of the balance-sheet total rises from 2.8% to 7.5%. Equity and debt are higher.
Key figures and ratios
EBITDA
€5,286▲
2024 · €4,067
Cash flow
€4,966▲
2024 · €3,657
Current ratio
7.80▼
2024 · 15.49
Debt to equity
0.08▲
2024 · 0.03
ROE
0.8%▼
2024 · 1.9%
ROA
0.7%▼
2024 · 1.8%
Interest coverage
16.49▲
2024 · 9.90
Debt ≤ 1 year
€2,850▲
2024 · €995
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 16,986 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 94% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
0.5%
went bankrupt
4.9%
stopped otherwise
94%
still going
A further 0.3% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.5% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 16,986 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | - | - | - | €39,013 | €39,364 | ▲ 0.9% |
| Non-recurring operating income76A | - | €1,483 | €1,046 | €616 | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €33,980 | €32,762 | ▼ 3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,463 | - | - | €3,000 | €4,700 | ▲ 56.7% |
| Other operating charges640/8 | - | €520 | €1,113 | €1,582 | €1,316 | ▼ 16.8% |
| Gross operating margin9900 | €21,939 | €2,971 | €1,722 | €5,650 | €6,602 | ▲ 16.9% |
| Operating profit (loss)9901 | €19,476 | €2,452 | €609 | €1,067 | €586 | ▼ 45.1% |
| Financial charges65/66B | €77 | €209 | €251 | €411 | €321 | ▼ 22.0% |
| Recurring financial charges65 | €77 | €209 | €251 | €411 | €321 | ▼ 22.0% |
| Profit (loss) for the period before taxes9903 | €19,398 | €2,243 | €358 | €657 | €266 | ▼ 59.6% |
| Profit (loss) for the period9904 | €19,398 | €2,243 | €358 | €657 | €266 | ▼ 59.6% |
| Profit (loss) for the period to be appropriated9905 | €19,398 | €2,243 | €358 | €657 | €266 | ▼ 59.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €42,380 | €45,134 | €45,260 | €35,912 | €38,032 | ▲ 5.9% |
| Fixed assets21/28 | €5,488 | €5,488 | €23,500 | €20,500 | €15,800 | ▼ 22.9% |
| Tangible fixed assets22/27 | €5,488 | €5,488 | €23,500 | €20,500 | €15,800 | ▼ 22.9% |
| Furniture and vehicles24 | €5,488 | €5,488 | €23,500 | €20,500 | €15,800 | ▼ 22.9% |
| Current assets29/58 | €36,892 | €39,646 | €21,760 | €15,412 | €22,232 | ▲ 44.3% |
| Amounts receivable after more than one year29 | - | - | €1,219 | - | - | - |
| Trade receivables290 | - | - | €1,219 | - | - | - |
| Amounts receivable within one year40/41 | €21,615 | €28,668 | €19,098 | €13,431 | €20,312 | ▲ 51.2% |
| Trade receivables40 | - | - | €5,000 | - | - | - |
| Other amounts receivable41 | €21,615 | €28,668 | €14,098 | €13,431 | €20,312 | ▲ 51.2% |
| Cash at bank and in hand54/58 | €14,511 | €9,791 | €48 | €521 | €460 | ▼ 11.6% |
| Deferred charges and accrued income490/1 | €766 | €1,187 | €1,396 | €1,460 | €1,460 | = |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €42,380 | €45,134 | €45,260 | €35,912 | €38,032 | ▲ 5.9% |
| Equity10/15 | €41,875 | €44,002 | €45,260 | €34,917 | €35,182 | ▲ 0.8% |
| Contributions10/11 | €12,395 | €12,395 | €12,395 | €1,395 | €1,395 | = |
| Reserves13 | €2,116 | €2,116 | €2,116 | €2,116 | €2,116 | = |
| Non-distributable reserves130/1 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Reserves not available under the articles1311 | €1,859 | €1,859 | €1,859 | €1,859 | €1,859 | = |
| Tax-exempt reserves132 | €256 | €256 | €256 | €256 | €256 | = |
| Profit (loss) carried forward14 | €27,365 | €29,491 | €30,750 | €31,406 | €31,672 | ▲ 0.8% |
| Amounts payable17/49 | €505 | €1,132 | - | €995 | €2,850 | ▲ 186% |
| Amounts payable within one year42/48 | €505 | €1,132 | - | €995 | €2,850 | ▲ 186% |
| Trade debts44 | €505 | €1,132 | - | €995 | €2,850 | ▲ 186% |
| Suppliers440/4 | €505 | €1,132 | - | €995 | €2,850 | ▲ 186% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €19,398 | €2,243 | €358 | €657 | €266 | ▼ 59.6% |
| + Depreciation and write-downs630 | €2,463 | - | - | €3,000 | €4,700 | ▲ 56.7% |
| Operating cash flow (approximation) | €21,861 | €2,243 | €358 | €3,657 | €4,966 | ▲ 35.8% |
| Investment in fixed assets (approximation) | - | €0 | -€18,012 | €0 | €0 | - |
| Change in cash | - | -€4,720 | -€9,743 | €473 | -€61 | ▼ 113% |
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
24-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 24 days late
2025
25-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
02-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 2 days late
2023
24-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 24 days late
2022
19-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 19 days late
2021
31-12
Financial
Highest result since 2018net €19,398 ▲669%
Operating result €19,476, net result €19,398, both a record.
31-12
Financial
Liquidity times 12current ratio 73.03
Current ratio from 6.04 to 73.03; short-term debt falls from €2,882 to €505.
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
08-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 69 days late
2019
31-12
Financial
Weakest financial yearnet €90 ▼96%
Net result drops to €90, the lowest in the series; recovery starts the following year.
29-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 29 days late
2018
24-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 24 days late
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 29 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, Anderlecht · 1 establishment unit since 1996
Ground area
677 m²
Building footprint
296 m²
Volume, LiDAR
3,771 m³
2 parcels, Brussels · tallest building 17.8 m, ±5 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Sint-Guidostraat 60, 1070 Anderlecht
since 19962.079.551.920
2 parcels
Brussels
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21001A0675/00N000 | Brussels | 613 m² | 1 · 231 m² | 14.8 m · 4 fl. |
| 21305B0249/00M002 | Brussels | 64 m² | 1 · 65 m² | 17.8 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 6,684 companies in sector 49330 we hold annual accounts for 2,297. 1,949 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
Founded12-06-1996
Fiscal year end31-12
Activities, NACEBEL 2025
49330On-demand passenger transport by chauffeured vehicle
E-invoicing
Reachable via Peppol
Peppol ID
0208:0458166038
Also
9925:BE0458166038
Registered
09-10-2024
Register as of 26 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.