ARSTLINE
ActiveSummary
ARSTLINE has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €200,773 and a net result of €269,616. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 28% of 9336 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability64▲+28
Solvency34▲+11
Growth78▲+20
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days acceptable
Liquidity tight (current ratio 1.24 against 1.12 in 2024; short-term debt: 70.4% and cash: 7.9% of total assets), and 91.2% of the assets are financed with debt.
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Show the recommended maximum : and see how the verdict changes with amount, term and advance.
Signals
Five 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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer 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
8.8%
Return on assets
11.8%
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 24-07-2026, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
7 d early
2024
50 d early
2023
41 d early
2022
12 d early
2021
11 d early
2020
19 d early
2019
67 d early
← 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 30 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€269,616▲ 143%
2024 · €111,002
Working capital
€383,235▲ 12.2%
2024 · €341,690
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€38,284-€198,148-€45,596▲ 77.0%€261,144€371,056▲ 42.1%
Net result€16,670within the sector's middle half-€239,091below the sector's middle half-€151,983below the sector's middle half▲ 36.4%€111,002within the sector's middle half€269,616above the sector's middle half▲ 143%
Equity€211,230within the sector's middle half▲ 8.6%-€27,861below the sector's middle half-€179,844below the sector's middle half▼ 546%-€68,843below the sector's middle half▲ 61.7%€200,773within the sector's middle half
Total assets€2.3mwithin the sector's middle half▲ 34.8%€2.4mwithin the sector's middle half▲ 0.4%€2.9mabove the sector's middle half▲ 22.2%€3.5mwithin the sector's middle half▲ 20.2%€2.3mwithin the sector's middle half▼ 34.2%
Debt€2.1m▲ 38.1%€2.4m▲ 11.6%€3.1m▲ 28.3%€3.5m▲ 15.4%€2.1m▼ 41.2%
Working capital€129,171within the sector's middle half€317,757within the sector's middle half▲ 146%€215,656above the sector's middle half▼ 32.1%€341,690within the sector's middle half▲ 58.4%€383,235within the sector's middle half▲ 12.2%
Solvency9.0%within the sector's middle half▼ 2.2pp-1.2%below the sector's middle half▼ 10.2pp-6.2%below the sector's middle half▼ 5.1pp-2.0%below the sector's middle half▲ 4.3pp8.8%within the sector's middle half▲ 10.8pp
Current ratio1.07within the sector's middle half▲ 0.081.18within the sector's middle half▲ 0.121.09within the sector's middle half▼ 0.091.12within the sector's middle half▲ 0.031.24within the sector's middle half▲ 0.12
Return on assets (ROA)0.7%within the sector's middle half▲ 7.1pp-10.1%below the sector's middle half▼ 10.9pp-5.3%below the sector's middle half▲ 4.9pp3.2%within the sector's middle half▲ 8.5pp11.8%above the sector's middle half▲ 8.6pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2025 Net result +143% on 2024. The accounts now follow the abbreviated schema, last year the full schema.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 42% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.3m
Fixed assets
€292,162 ▼ 0.8%
Current assets
€2.0m ▼ 37.3%
Equity and liabilities €2.3m
Equity
€200,773
Debt
€2.1m
Debt finances 91.2% of the balance-sheet total.
Key figures and ratios
EBITDA
€375,411▲
2024 · €272,288
Cash flow
€273,971▲
2024 · €122,146
Quick ratio
0.13▼
2024 · 0.31
Debt to equity
10.35▲
2024 · -51.30
ROE
134.3%
Interest coverage
3.60▲
2024 · 1.56
Debt ≤ 1 year
€1.6m▼
2024 · €2.8m
Debt > 1 year
€445,030▼
2024 · €549,927
Income taxes
€888▲
2024 · €685
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 535 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 96% are still going.
- Small
- 10 to 20 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
0.7%
went bankrupt
3.2%
stopped otherwise
96%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 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% | 1.7% |
| 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 75% 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 535 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,851 | €13,449 | €13,087 | €11,144 | €4,356 | ▼ 60.9% |
| Other operating charges640/8 | €9,322 | €8,169 | €3,404 | €5,964 | €1,776 | ▼ 70.2% |
| Gross operating margin9900 | €62,457 | -€176,529 | -€29,106 | €278,252 | €377,187 | ▲ 35.6% |
| Operating profit (loss)9901 | €38,284 | -€198,148 | -€45,596 | €261,144 | €371,056 | ▲ 42.1% |
| Financial income75/76B | €6,563 | €3,229 | €3,453 | €24,633 | €3,832 | ▼ 84.4% |
| Recurring financial income75 | €6,563 | €3,229 | €3,453 | €24,633 | €3,832 | ▼ 84.4% |
| Financial charges65/66B | €27,635 | €43,606 | €109,289 | €174,091 | €104,384 | ▼ 40.0% |
| Recurring financial charges65 | €27,635 | €43,606 | €109,289 | €174,091 | €104,384 | ▼ 40.0% |
| Profit (loss) for the period before taxes9903 | €17,212 | -€238,525 | -€151,432 | €111,686 | €270,503 | ▲ 142% |
| Income taxes67/77 | €542 | €566 | €551 | €685 | €888 | ▲ 29.6% |
| Profit (loss) for the period9904 | €16,670 | -€239,091 | -€151,983 | €111,002 | €269,616 | ▲ 143% |
| Profit (loss) for the period to be appropriated9905 | €16,670 | -€239,091 | -€151,983 | €111,002 | €269,616 | ▲ 143% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.3m | €2.4m | €2.9m | €3.5m | €2.3m | ▼ 34.2% |
| Fixed assets21/28 | €279,641 | €291,262 | €323,406 | €294,658 | €292,162 | ▼ 0.8% |
| Tangible fixed assets22/27 | €85,776 | €74,392 | €66,888 | €28,766 | €26,269 | ▼ 8.7% |
| Land and buildings22 | €56,815 | €54,232 | €51,649 | €22,161 | €20,702 | ▼ 6.6% |
| Furniture and vehicles24 | €26,162 | €17,360 | €12,439 | €3,805 | €2,767 | ▼ 27.3% |
| Other tangible fixed assets26 | €2,800 | €2,800 | €2,800 | €2,800 | €2,800 | = |
| Financial fixed assets28 | €193,865 | €216,870 | €256,517 | €265,892 | €265,892 | = |
| Current assets29/58 | €2.1m | €2.1m | €2.6m | €3.2m | €2.0m | ▼ 37.3% |
| Stocks and contracts in progress3 | €1.5m | €1.8m | €2.4m | €2.3m | €1.8m | ▼ 22.1% |
| Stocks30/36 | €1.5m | €1.8m | €2.4m | €2.3m | €1.8m | ▼ 22.1% |
| Amounts receivable within one year40/41 | €431,638 | €19,170 | €17,770 | €824,958 | €28,173 | ▼ 96.6% |
| Trade receivables40 | €431,638 | €16,175 | €14,775 | €821,963 | €20,843 | ▼ 97.5% |
| Other amounts receivable41 | - | €2,995 | €2,995 | €2,995 | €7,330 | ▲ 145% |
| Cash at bank and in hand54/58 | €100,917 | €245,275 | €155,542 | €62,546 | €180,765 | ▲ 189% |
| Deferred charges and accrued income490/1 | €1,343 | - | €4,861 | €513 | €534 | ▲ 4.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.3m | €2.4m | €2.9m | €3.5m | €2.3m | ▼ 34.2% |
| Equity10/15 | €211,230 | -€27,861 | -€179,844 | -€68,843 | €200,773 | ▲ 392% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | €190,770 | -€48,321 | -€200,304 | -€89,303 | €180,313 | ▲ 302% |
| Amounts payable17/49 | €2.1m | €2.4m | €3.1m | €3.5m | €2.1m | ▼ 41.2% |
| Amounts payable after more than one year17 | €191,374 | €616,413 | €664,694 | €549,927 | €445,030 | ▼ 19.1% |
| Financial debts170/4 | €191,374 | €616,413 | €664,694 | €549,927 | €445,030 | ▼ 19.1% |
| Amounts payable within one year42/48 | €1.9m | €1.7m | €2.3m | €2.8m | €1.6m | ▼ 43.3% |
| Current portion of amounts payable after more than one year42 | €1.3m | €1.2m | €1.7m | €2.2m | €1.3m | ▼ 42.0% |
| Financial debts43 | - | €2 | - | - | - | - |
| Credit institutions430/8 | - | €2 | - | - | - | - |
| Trade debts44 | €4,457 | €10,656 | €10,646 | €9,279 | €18,958 | ▲ 104% |
| Suppliers440/4 | €4,457 | €10,656 | €10,646 | €9,279 | €18,958 | ▲ 104% |
| Taxes, remuneration and social security45 | €17,186 | €11,981 | €22,088 | €16,994 | €5,131 | ▼ 69.8% |
| Taxes450/3 | €17,186 | €11,981 | €22,088 | €12,437 | €535 | ▼ 95.7% |
| Remuneration and social security454/9 | - | - | - | €4,558 | €4,596 | ▲ 0.8% |
| Other amounts payable47/48 | €584,794 | €514,722 | €561,326 | €638,512 | €326,525 | ▼ 48.9% |
| Accrued charges and deferred income492/3 | €6,209 | €20,467 | €54,213 | €155,264 | €29,593 | ▼ 80.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €16,670 | -€239,091 | -€151,983 | €111,002 | €269,616 | ▲ 143% |
| + Depreciation and write-downs630 | €14,851 | €13,449 | €13,087 | €11,144 | €4,356 | ▼ 60.9% |
| Operating cash flow (approximation) | €31,521 | -€225,641 | -€138,897 | €122,146 | €273,971 | ▲ 124% |
| Investment in fixed assets (approximation) | - | -€25,069 | -€45,231 | €17,603 | -€1,859 | ▼ 111% |
| Change in cash | - | €144,358 | -€89,734 | -€92,996 | €118,219 | ▲ 227% |
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
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2018net €269,616 ▲143%
Operating result €371,056, net result €269,616, both a record.
31-12
Financial
Equity above €200,000Eq €200,773
2 profitable years in a row build equity to €200,773.
11-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Back to profitnet €111,002
Net result €111,002 after 2 loss-making years.
20-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
19-07
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Weakest financial yearnet -€239,091
Net result drops to -€239,091, the lowest in the series; recovery starts the following year.
20-07
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-12
Financial
Back to profitnet €16,670
Net result €16,670 after one loss-making year.
31-12
Financial
Equity above €200,000Eq €211,230 ▲8.6%
Equity rises from €194,559 to €211,230.
12-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Show earlier events
2020
25-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €117,406
Net result €117,406 after one loss-making year.
31-12
Financial
Equity above €200,000Eq €305,608 ▲62.4%
Equity rises from €188,201 to €305,608.
13-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
24-05
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
31-05
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.
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, Sint-Lambrechts-Woluwe · 1 establishment unit since 2008
Ground area
210 m²
Building footprint
91 m²
Volume, LiDAR
1,527 m³
Parcel 21673D0154/00A006, Brussels · tallest building 21.5 m, ±6 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
ARSTLINE
since 20082.172.312.228
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21673D0154/00A006 | Brussels | 210 m² | 1 · 91 m² | 21.5 m · 6 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.
Structure & network
Owners and holdings
1 holdingOwners 0
The accounts to 31-12-2025 list no shareholders, and no other source names one.
Holdings 1
-
20%
According to the 2025 annual accounts of ARSTLINE and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 3,761 companies in sector 68321 we hold annual accounts for 1,394. 996 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
Founded01-07-2008
Fiscal year end31-12
Activities, NACEBEL 2025
68321Property management for co-owned buildings (syndics)
68121Development of residential building projects
68310Real estate agency activities
70200Business and other management consultancy
82990Other business support services
Contact
E-mail
RDS@ARSTLINE.EUSint-Lambrechts-Woluwe
Phone
0476/913291Sint-Lambrechts-Woluwe
E-invoicing
Reachable via Peppol
Peppol ID
0208:0898936711
Registered
03-11-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.