Checked.be
Active
BE 0809.398.979Public limited company
ARSmarts
Allée Edgard-D'Hont 13 ·4032 Liège, Belgium· 17 yrs active
Sector: Computer programming
(62100)
Conclusion
ARSmarts has been active since 2009 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €83k and a net result of €-242. Equity remains stable across the filed fiscal years (±1.2% per year). Its solvency ranks better than 83% of 16619 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Based on the State Gazette, CBE and 5 annual accounts.
Key figures
| Equity | €83k |
| Net result | €-242 |
| Better than sector | 83% |
| Active | 17 yrs |
Financial profile
65
/ 100
Strong profile, led by solvency.
All 5 axes are computed from data Checked has read.
Health
62
Profitability
4
Solvency
100
Growth
59
Stability
100
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
Established
Founded in 2009, 17 years in business.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
62
/ 100
Healthy
Computed from 4 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€500
estimate, not credit advice
Score history
75
2021
62
2022
86
2023
86
2024
62
2025
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 15.40 (≥ 1.5)
+10
Quick ratio
Quick ratio 15.40 (≥ 1.0)
+5
Leverage
Debt/equity 0.15 (< 1.0)
+10
Profitability
Negatieve ROE 0%
-10
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.
Financial overview
Annual accounts filed on 27-04-2026 with the NBB · fiscal year 2025 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
stable
Equity: stable across 5 fiscal years (±1.2%/year).
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2025 · NACE 62, Computer programming, consultancy and related activities · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 86.7% | 60.0% | |
| Net result | €-242 | €29k | |
| Equity | €83k | €72k | |
| Gross operating margin | €680 | €55k | |
| Total assets | €96k | €141k |
€7k
-52.7%
21-25
€-242
-
21-25
€96k
+6.4%
21-25
€83k
-0.3%
21-25
€90k
+0.7%
21-25
€31
-95.4%
21-25
€13k
+88.3%
21-25
€6k
+456.9%
21-25
15.40
-80.9%
21-25
15.40
-80.9%
21-25
86.7%
-6.3%
21-25
0.15
+88.8%
21-25
-0.3%
-
21-25
-0.3%
-
21-25
-3.3%
-
21-25
Figures by fiscal year and ratios
| Fiscal year | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema | micro schema |
| Revenue | €7k | €16k | €6k | €11k | €5k |
| EBITDA | - | - | - | - | - |
| Net profit | €-242 | €2k | €2k | €-372 | €17k |
| Cash flow | - | - | - | - | - |
| Staff costs | - | - | - | - | - |
| Income taxes | €31 | €685 | €0 | - | - |
| Dividends | - | - | - | - | - |
| Total assets | €96k | €91k | €93k | €92k | €87k |
| Equity | €83k | €84k | €82k | €80k | €80k |
| Debt | €13k | €7k | €11k | €12k | €6k |
| of which ≤ 1y | €6k | €1k | €4k | €12k | €6k |
| of which > 1y | - | - | - | - | - |
| Working capital | €90k | €89k | €89k | €81k | €81k |
| Employees (FTE) | - | - | - | - | - |
Ratios (computed)
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Current ratio | 15.40 | 80.60 | 20.80 | 7.89 | 14.75 |
| Quick ratio | 15.40 | 80.60 | 20.80 | 7.89 | 14.75 |
| Working capital ratio | 93.5% | 98.8% | 95.2% | 87.3% | 93.2% |
| Solvency | 86.7% | 92.5% | 87.8% | 86.8% | 92.6% |
| Debt / equity | 0.15 | 0.08 | 0.14 | 0.15 | - |
| Long-term debt ratio | - | - | - | - | - |
| Interest coverage | - | - | - | - | - |
| Gross margin | 9.2% | 24.8% | 35.1% | 7.0% | - |
| Net margin | -3.3% | 13.2% | 25.1% | -3.4% | 364.3% |
| ROA | -0.3% | 2.3% | 1.7% | -0.4% | 20.1% |
| ROE | -0.3% | 2.5% | 2.0% | -0.5% | 21.7% |
| EBITDA margin | - | - | - | - | - |
| Days sales outstanding | 51d | 0d | 0d | 0d | 66d |
| Days payable outstanding | 342d | 14d | 345d | 400d | - |
| Inventory turnover | - | - | - | - | - |
| Days inventory (DSI) | - | - | - | - | - |
Balance-sheet composition 2025
Full annual accounts (23 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet, Assets | ||||||
| TOTAL ASSETS | 20/58 | €96k | €91k | €93k | €92k | €87k |
| Fixed assets | 21/28 | - | - | - | €0 | - |
| Tangible fixed assets | 22/27 | - | - | - | €0 | - |
| Current assets | 29/58 | €96k | €91k | €93k | €92k | €87k |
| Amounts receivable within one year | 40/41 | €1k | €2k | €864 | €2k | €862 |
| Cash & bank | 54/58 | €95k | €89k | €92k | €90k | €86k |
| Balance sheet, Equity & liabilities | ||||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €96k | €91k | €93k | €92k | €87k |
| Equity | 10/15 | €83k | €84k | €82k | €80k | €80k |
| Contributions / capital | 10/11 | €62k | €62k | €62k | €62k | €62k |
| Reserves | 13 | €2k | €2k | €2k | €2k | €2k |
| Accumulated profits (losses) | 14 | €20k | €21k | €19k | €17k | €17k |
| Amounts payable | 17/49 | €13k | €7k | €11k | €12k | €6k |
| Amounts payable within one year | 42/48 | €6k | €1k | €4k | €12k | €6k |
| Trade debts payable within one year | 44 | €6k | €438 | €4k | €11k | €6k |
| Income statement | ||||||
| Turnover | 70 | €7k | €16k | €6k | €11k | €5k |
| Gross operating margin | 9900 | €680 | €4k | €2k | €765 | €-1k |
| Operating result | 9901 | €73 | €3k | €1k | €197 | €-2k |
| Financial income | 75 | - | - | €394 | €0 | €2k |
| Financial charges | 65 | €283 | €512 | €251 | €569 | €246 |
| Result before taxes | 9903 | €-211 | €3k | €2k | €-372 | €-248 |
| Income taxes | 67/77 | €31 | €685 | €0 | - | - |
| Net result for the period | 9904 | €-242 | €2k | €2k | €-372 | €-248 |
| Result to be appropriated | 9905 | €-242 | €2k | €2k | €-372 | €-248 |
Legal Structure
| NACE primary | Computer programming(62100) |
| Legal form | Public limited company(014) |
| Incorporation | 27-01-2009 |
| Status | Active |
| Postal code | 4032 |
Establishment units
ARSmarts
since 20092.177.566.559
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24041E0571/00F000 | Flanders | 492 m² | 1 · 178 m² | 11.6 m · 3 fl. |
Methodology
via establishment units: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
Next filing, fiscal year 2026, expected by
2026
27-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
18-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-09
Financial
Liquidity quadruplescurrent ratio 80.60
Current ratio from 20.80 to 80.60; short-term debt falls from €4k to €1k.
08-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
30-09
Financial
Liquidity triplescurrent ratio 20.80
Current ratio from 7.89 to 20.80; short-term debt falls from €12k to €4k.
07-03
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Weakest financial yearnet €-372 ▼102%
Net result drops to €-372, the lowest in the series; recovery starts the following year.
22-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
18-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
07-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
29-04
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
27-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-03
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
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.
Credit advice
Company registry (CBE)
Activities
Computer programming, consultancy and related activities62010Computer programming62100IT consultancy62020Other information technology and computer services62900Computer consultancy and computer facilities management62200Business and other management consultancy70200Business consulting70220
Names & trade names
| Legal nameFR | ARSmarts |
Similar companies
Focal consulting
BE 0734.662.162 · Namur
QUINTA SOLUTIONS
BE 1006.423.104 · Elsene
SOFTSELL
BE 0457.287.197 · De Haan
SCREENSIDE
BE 0784.384.857 · Pont-à-Celles
STRAIT 14
BE 0656.840.844 · Zoersel