ART Kitchen
ActiveSummary
ART Kitchen has been active since 1987 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €172,763 and a net result of €221,481. Equity remains stable across the filed fiscal years (±0.2% per year). Its solvency ranks better than 22% of 4231 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability87▲+2
Solvency36▼-1
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity short (current ratio 0.93 against 0.92 in 2024; short-term debt: 88.6% and cash: 21.3% of total assets), and 88.6% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Retail trade (NACE 47)
about 45% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
11.4%
Return on assets
14.6%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 4231 sector peers (2025).
NBB · sector comparisonPosition among 4231 sector peers
Solvency
better than 22%
← weakest
strongest →
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 05-05-2026, 87 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
87 d early
2024
87 d early
2023
86 d early
2022
84 d early
2021
83 d early
2020
61 d early
2019
64 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 79 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 47% 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. Usually files around 7 May (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€221,481▲ 18.3%
2024 · €187,219
Working capital
-€90,427▲ 2.9%
2024 · -€93,171
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 47, Retail trade, 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€422,699▲ 18.8%€434,206▲ 2.7%€311,445▼ 28.3%€168,283▼ 46.0%€219,523▲ 30.4%
Net result€397,893above the sector's middle half▲ 24.2%€398,976above the sector's middle half▲ 0.3%€305,007above the sector's middle half▼ 23.6%€187,219above the sector's middle half▼ 38.6%€221,481above the sector's middle half▲ 18.3%
Equity€173,601within the sector's middle half▼ 1.2%€172,577within the sector's middle half▼ 0.6%€177,583within the sector's middle half▲ 2.9%€173,282within the sector's middle half▼ 2.4%€172,763within the sector's middle half▼ 0.3%
Total assets€2.1mabove the sector's middle half▲ 30.6%€1.7mwithin the sector's middle half▼ 20.9%€1.6mwithin the sector's middle half▼ 5.4%€1.4mwithin the sector's middle half▼ 10.4%€1.5mwithin the sector's middle half▲ 7.9%
Debt€1.9m▲ 34.5%€1.5m▼ 22.7%€1.4m▼ 6.4%€1.2m▼ 11.4%€1.3m▲ 9.0%
Working capital-€210,313below the sector's middle half▲ 7.8%-€136,935below the sector's middle half▲ 34.9%-€130,183below the sector's middle half▲ 4.9%-€93,171below the sector's middle half▲ 28.4%-€90,427below the sector's middle half▲ 2.9%
Solvency8.3%below the sector's middle half▼ 2.7pp10.4%below the sector's middle half▲ 2.1pp11.3%below the sector's middle half▲ 0.9pp12.3%below the sector's middle half▲ 1.0pp11.4%below the sector's middle half▼ 0.9pp
Current ratio0.89below the sector's middle half▲ 0.050.90below the sector's middle half▲ 0.020.90below the sector's middle half=0.92below the sector's middle half▲ 0.020.93below the sector's middle half▲ 0.01
Return on assets (ROA)19.0%above the sector's middle half▼ 1.0pp24.1%above the sector's middle half▲ 5.1pp19.5%above the sector's middle half▼ 4.6pp13.3%above the sector's middle half▼ 6.1pp14.6%above the sector's middle half▲ 1.3pp
Staff (FTE)6within the sector's middle half▲ 25.0%6within the sector's middle half=4.5within the sector's middle half▼ 25.0%4.2within the sector's middle half▼ 6.7%5within the sector's middle half▲ 19.0%
above
within
below
the middle half (P25 to P75) of NACE 47, Retail trade, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 30% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.5m
Fixed assets
€263,191 ▼ 5.0%
Current assets
€1.3m ▲ 11.0%
Equity and liabilities €1.5m
Equity
€172,763 ▼ 0.3%
Debt
€1.3m ▲ 9.0%
Debt's share of the balance-sheet total rises from 87.7% to 88.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€276,850▲
2024 · €236,523
Cash flow
€278,808▲
2024 · €255,458
Quick ratio
0.75▲
2024 · 0.70
Debt to equity
7.77▲
2024 · 7.10
ROE
128.2%▲
2024 · 108.0%
Interest coverage
85.97▲
2024 · 56.43
Debt ≤ 1 year
€1.3m▲
2024 · €1.2m
Income taxes
€79,920▲
2024 · €66,883
Staff costs
€329,702▲
2024 · €289,954
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,818 companies that looked in July 2024 the way this one looks now, 1.0% went bankrupt within 24 months and 95% are still going.
- Micro
- 20 years or older
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.0%
went bankrupt
3.7%
stopped otherwise
95%
still going
A further 0.1% 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 497,338 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.9% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 3,818 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 | - | €12,917 | €3,787 | €4,320 | €16,533 | ▲ 283% |
| Remuneration, social security and pensions62 | €410,820 | €354,448 | €283,394 | €289,954 | €329,702 | ▲ 13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €96,414 | €87,801 | €61,646 | €68,240 | €57,327 | ▼ 16.0% |
| Other operating charges640/8 | €7,262 | €6,587 | €7,352 | €33,879 | €5,400 | ▼ 84.1% |
| Non-recurring operating charges66A | €10,526 | €124 | €193 | - | - | - |
| Gross operating margin9900 | €947,721 | €883,166 | €664,030 | €560,356 | €611,952 | ▲ 9.2% |
| Operating profit (loss)9901 | €422,699 | €434,206 | €311,445 | €168,283 | €219,523 | ▲ 30.4% |
| Financial income75/76B | €110,211 | €103,327 | €98,638 | €90,010 | €85,179 | ▼ 5.4% |
| Recurring financial income75 | €110,211 | €103,327 | €98,638 | €90,010 | €85,179 | ▼ 5.4% |
| Financial charges65/66B | €4,772 | €1,378 | €2,008 | €4,191 | €3,301 | ▼ 21.2% |
| Recurring financial charges65 | €4,772 | €1,378 | €2,008 | €4,191 | €3,220 | ▼ 23.2% |
| Non-recurring financial charges66B | - | - | - | - | €80 | - |
| Profit (loss) for the period before taxes9903 | €528,137 | €536,155 | €408,076 | €254,101 | €301,401 | ▲ 18.6% |
| Income taxes67/77 | €130,244 | €137,178 | €103,069 | €66,883 | €79,920 | ▲ 19.5% |
| Profit (loss) for the period9904 | €397,893 | €398,976 | €305,007 | €187,219 | €221,481 | ▲ 18.3% |
| Transfer from tax-exempt reserves789 | €1,184 | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €399,077 | €398,976 | €305,007 | €187,219 | €221,481 | ▲ 18.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.1m | €1.7m | €1.6m | €1.4m | €1.5m | ▲ 7.9% |
| Fixed assets21/28 | €450,051 | €357,376 | €341,694 | €277,044 | €263,191 | ▼ 5.0% |
| Tangible fixed assets22/27 | €450,051 | €357,376 | €341,694 | €277,044 | €263,191 | ▼ 5.0% |
| Plant, machinery and equipment23 | €12,176 | €15,901 | €11,347 | €5,494 | €3,079 | ▼ 44.0% |
| Furniture and vehicles24 | €24,491 | €8,506 | €36,147 | €33,944 | €63,016 | ▲ 85.6% |
| Other tangible fixed assets26 | €413,384 | €332,968 | €294,200 | €237,606 | €197,096 | ▼ 17.0% |
| Current assets29/58 | €1.6m | €1.3m | €1.2m | €1.1m | €1.3m | ▲ 11.0% |
| Stocks and contracts in progress3 | €349,053 | €417,864 | €351,159 | €274,831 | €244,464 | ▼ 11.0% |
| Stocks30/36 | €349,053 | €417,864 | €351,159 | €274,831 | €244,464 | ▼ 11.0% |
| Amounts receivable within one year40/41 | €711,111 | €471,819 | €488,826 | €500,748 | €653,050 | ▲ 30.4% |
| Trade receivables40 | €691,111 | €471,819 | €488,826 | €496,342 | €653,050 | ▲ 31.6% |
| Other amounts receivable41 | €20,000 | - | - | €4,406 | - | - |
| Current investments50/53 | - | - | €130,000 | €130,385 | €20,780 | ▼ 84.1% |
| Cash at bank and in hand54/58 | €583,180 | €406,040 | €247,851 | €215,234 | €322,591 | ▲ 49.9% |
| Deferred charges and accrued income490/1 | €2,132 | €4,355 | €7,754 | €5,627 | €10,210 | ▲ 81.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.1m | €1.7m | €1.6m | €1.4m | €1.5m | ▲ 7.9% |
| Equity10/15 | €173,601 | €172,577 | €177,583 | €173,282 | €172,763 | ▼ 0.3% |
| Contributions10/11 | €156,173 | €156,173 | €156,173 | €156,173 | €156,173 | = |
| Capital10 | €156,173 | €156,173 | €156,173 | €156,173 | €156,173 | = |
| Issued capital100 | €156,173 | €156,173 | €156,173 | €156,173 | €156,173 | = |
| Reserves13 | €15,617 | €15,617 | €15,617 | €15,617 | €15,617 | = |
| Non-distributable reserves130/1 | €15,617 | €15,617 | €15,617 | €15,617 | €15,617 | = |
| Legal reserve130 | €15,617 | €15,617 | €15,617 | €15,617 | €15,617 | = |
| Profit (loss) carried forward14 | €1,811 | €787 | €5,793 | €1,492 | €973 | ▼ 34.8% |
| Amounts payable17/49 | €1.9m | €1.5m | €1.4m | €1.2m | €1.3m | ▲ 9.0% |
| Amounts payable after more than one year17 | €66,137 | €47,865 | €33,927 | €10,591 | - | - |
| Financial debts170/4 | €66,137 | €47,865 | €33,927 | €10,591 | - | - |
| Amounts payable within one year42/48 | €1.9m | €1.4m | €1.4m | €1.2m | €1.3m | ▲ 10.0% |
| Current portion of amounts payable after more than one year42 | €53,867 | €18,328 | €13,873 | €18,696 | €10,591 | ▼ 43.4% |
| Trade debts44 | €90,440 | €72,824 | €111,302 | €88,238 | €91,856 | ▲ 4.1% |
| Suppliers440/4 | €90,440 | €72,824 | €111,302 | €88,238 | €91,856 | ▲ 4.1% |
| Advances received on contracts in progress46 | €1.1m | €843,278 | €813,680 | €872,850 | €948,798 | ▲ 8.7% |
| Taxes, remuneration and social security45 | €177,251 | €102,584 | €116,917 | €48,692 | €68,279 | ▲ 40.2% |
| Taxes450/3 | €108,350 | €49,793 | €86,805 | €12,581 | €17,533 | ▲ 39.4% |
| Remuneration and social security454/9 | €68,901 | €52,791 | €30,112 | €36,111 | €50,745 | ▲ 40.5% |
| Other amounts payable47/48 | €400,000 | €400,000 | €300,000 | €191,520 | €222,000 | ▲ 15.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €397,893 | €398,976 | €305,007 | €187,219 | €221,481 | ▲ 18.3% |
| + Depreciation and write-downs630 | €96,414 | €87,801 | €61,646 | €68,240 | €57,327 | ▼ 16.0% |
| Operating cash flow (approximation) | €494,307 | €486,777 | €366,652 | €255,458 | €278,808 | ▲ 9.1% |
| Investment in fixed assets (approximation) | - | €4,874 | -€45,963 | -€3,589 | -€43,474 | ▼ 1,111% |
| Change in cash | - | -€177,140 | -€158,189 | -€32,617 | €107,358 | ▲ 429% |
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
05-05
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
05-05
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
31-12
Financial
Weakest financial yearnet €187,219 ▼38.6%
Net result drops to €187,219, the lowest in the series; recovery starts the following year.
06-05
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
08-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €398,976 ▲0.3%
Operating result €434,206, net result €398,976, both a record.
09-05
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
31-05
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
28-05
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
13-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
04-06
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 4 acts read
About the unread acts
We know of 4 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
4 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, Wavre · 1 establishment unit since 2000
Ground area
2,843 m²
Building footprint
824 m²
Parcel 25772K0030/00R000, Wallonia. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
IXINA BY ELECTRO-CASH
since 20002.033.200.172
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25772K0030/00R000 | Wallonia | 2,843 m² | 1 · 824 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.
Structure & network
Owners and holdings
1 ownerChain of control
- HBF INVEST
- ART Kitchen
Highest known parent: HBF INVEST. The sources do not say who stands above it.
Owners 1
- HBF INVESTparent96.03%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts 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 764 companies in sector 47552 we hold annual accounts for 444. 373 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded13-03-1987
Fiscal year end31-12
Activities, NACEBEL 2025
47540Retail sale of electrical household appliances
47552Retail sale of lighting equipment
47551Retail sale of household furniture
E-invoicing
Reachable via Peppol
Peppol ID
0208:0430607249
Also
9925:BE0430607249
Registered
18-02-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.