Active BE 0773.478.889Private limited company

ART LUGGAGE

Keizerslaan 10 ·1000 Brussel, Belgium· 4 yrs active

Sector: Vervaardiging van koffers, tassen, zadel- en tuigmakerswerk van ongeacht welk materiaal (15120)

Conclusion Checked

The computed 12-month bankruptcy probability of ART LUGGAGE is 9.3% (elevated). The 2023 annual accounts show negative equity (€-85k) and a net result of €-97k. Equity is shrinking by ~44.5% per year across the filed fiscal years. The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.

Based on the State Gazette, CBE and 3 annual accounts.

Key figures

Equity	€-85k
Net result	€-97k
Active	4 yrs
Board	1

Financial profile 5 of 5 axes measured · computed by Checked

55 / 100

Mixed profile: strong on profitability, weaker on health.

All 5 axes are computed from data Checked has read.

Health 17

Profitability 100

Solvency 33

Growth 32

Stability 94

Bankruptcy probability (12 mo) Checked model v1 · free

9.3% Elevated

0%0,5%1,5%4%10%≥25%

Annual accounts: weaker financial profile +Young company +Higher-failure-rate region +

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

More than 3 years active

Founded in 2021, past the statistically most fragile first 3 years.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

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.

Health barometer FY 2023 · computed

17 / 100 Critical

050100

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.

The full score breakdown, per-year score history and the indicative credit limit are in Kantoor S.

See plans →

Computed by Checked from the NBB filing for FY 2023. Indicative, not credit advice.

Financial overview3 NBB filings

Annual accounts filed on 27-02-2025 with the NBB · fiscal year 2023 · micro

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

declining Equity: declining trend of ~44.5%/year over 3 fiscal years, indicative, assuming unchanged policy.

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).

EBITDA

€-97k

-18.0% 21-23

Net profit

€-97k

-18.3% 21-23

Cash flow

€-97k

-18.0% 21-23

Total assets

€19k

-4.4% 21-23

Equity

€-85k

-0.4% 21-23

Working capital

€-52k

+5.8% 21-23

Debt

€104k

-0.5% 21-23

Debt ≤ 1y

€71k

-5.2% 21-23

Show 7 other metrics

Debt > 1y

€30k

0.0% 21-23

Current ratio

0.26

+2.1% 21-23

Quick ratio

0.02

-21.8% 21-23

Solvency

-439.3%

-5.0% 21-23

Debt / equity

-1.23

+0.9% 21-23

ROE

114.7%

+17.8% 21-23

ROA

-503.9%

-23.8% 21-23

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2023
Deposit	micro
Revenue	-
EBITDA	€-97k
Net profit	€-97k
Cash flow	€-97k
Staff costs	-
Income taxes	-
Dividends	-
Total assets	€19k
Equity	€-85k
Debt	€104k
of which ≤ 1y	€71k
of which > 1y	€30k
Working capital	€-52k
Employees (FTE)	-

Ratios (computed)

	2023
Current ratio	0.26
Quick ratio	0.02
Working capital ratio	-271.0%
Solvency	-439.3%
Debt / equity	-1.23
Long-term debt ratio	-0.35
Interest coverage	-
Gross margin	-
Net margin	-
ROA	-503.9%
ROE	114.7%
EBITDA margin	-
Days sales outstanding	-
Days payable outstanding	43923d
Inventory turnover	0.01
Days inventory (DSI)	68641d

Balance-sheet composition 2023

Assets

Fixed assets €825 · 4.3% Current assets €18k · 95.7%

Full annual accounts (20 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2023
Balance sheet, Assets
TOTAL ASSETS	20/58	€19k
Fixed assets	21/28	€825
Tangible fixed assets	22/27	€825
Current assets	29/58	€18k
Stocks & contracts in progress	3	€17k
Amounts receivable within one year	40/41	€1k
Cash & bank	54/58	€319
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€19k
Equity	10/15	€-85k
Contributions / capital	10/11	€13k
Accumulated profits (losses)	14	€-97k
Amounts payable	17/49	€104k
Amounts payable after one year	17	€30k
Amounts payable within one year	42/48	€71k
Trade debts payable within one year	44	€11k
Income statement
Gross operating margin	9900	€-97k
Operating result	9901	€-97k
Result before taxes	9903	€-97k
Net result for the period	9904	€-97k
Result to be appropriated	9905	€-97k

This table shows the latest fiscal year. 2 prior years, with figures and ratios, belong to a paid plan. See plans →

Ratios computed by Checked.

Directors & mandates 3 directors

Current directors & mandates

NGUYEN Phuoc Tho
Managing director
State Gazette act 25044038 (03-04-2025)

Current
01-03-2025 → present

Former directors (2)

MELLAL Lahcen
Managing director
State Gazette act 25044038 (03-04-2025)

Former
- → 01-03-2025
Kenza MELLAL
Director (executive)
State Gazette act 24043831 (12-03-2024)

Former
- → 30-04-2022

Full appointment history from the Belgian State Gazette. Permanent representatives are shown for corporate directors.This list is read straight from this company's published acts, not from the officer register.

Legal Structure

NACE primary	Vervaardiging van koffers, tassen, zadel- en tuigmakerswerk van ongeacht welk materiaal(15120)
Legal form	Private limited company(610)
Incorporation	03-09-2021
Status	Active
Postal code	1000

Establishment units 1 location

IOTMOBILE

Quai de l'Ourthe 43, 4020 LiègeOverige industrie, neg

since 20212.326.213.319

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Wallonia 1 (50%) Brussels 1 (50%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
21808H1778/00D000	Brussels	670 m²	1 · 488 m²	27.7 m · 8 fl.
62816D0606/00X000	Wallonia	185 m²	1 · 186 m²	33.6 m · 10 fl.

Methodology

via registered seat: 1 · via establishment units: 1

2 of 2 parcels with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 5 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2025

03-04-2025

State Gazette act Director changes

27-02-2025

NBB filing Annual accounts filed

fiscal year 2023 · micro

2024

12-03-2024

State Gazette act Director changes

29-02-2024

NBB filing Annual accounts filed

fiscal year 2022 · micro

29-02-2024

NBB filing Annual accounts filed

fiscal year 2021 · micro

Belgian State Gazette reading coverage 0 of 4 acts read

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.

Belgisch Staatsblad, acts 2 acts

All acts · 2 updated 1 year ago

2025

03-04-2025 1 director appointed, 1 resigning Director changes

NGUYEN Phuoc Tho, Gedelegeerd bestuurder
MELLAL Lahcen, Gedelegeerd bestuurder

Original publication ↗

Technical details

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2024

12-03-2024 Kenza MELLAL resigns as director (executive) Director changes

Kenza MELLAL, Directeur

Original publication ↗

Technical details

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Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Vervaardiging van koffers, tassen, zadel- en tuigmakerswerk van ongeacht welk materiaal15120Groothandel in lederwaren en reisartikelen46498Detailhandel in lederwaren en reisartikelen47722

Primary activity highlighted.

Names & trade names

Legal nameFR

ART LUGGAGE

Registered office

Keizerslaan 10

1000 Brussel, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.

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