Summary
Conclusion
the dossier summarised in one paragraphA bankruptcy procedure is open for ART3M according to publications in the Belgian State Gazette. The file additionally contains 2 judicial reorganisations. The 2024 annual accounts show negative equity (€-90k) and a net result of €-202k.
Based on the State Gazette, CBE and 7 annual accounts.
Bankruptcy probability (12 mo)
Checked model v1 · free for everyoneBankruptcy opened
A bankruptcy procedure is already open, a probability score is no longer meaningful. See the insolvency timeline for the state of the procedure.
Insolvency timeline
3 events26-11-2025
Bankruptcy
Opening
16-10-2025
Judicial reorganisation
Plan homologation
23-06-2025
Judicial reorganisation
Opening
Signals
1 signal · with evidenceNegative equity
Equity is negative for financial year 2024: liabilities exceed assets. This is the trigger point of the alarm-bell procedure (Belgian CAC).
View the annual accounts Signals are derived from the filed annual accounts and the sector comparison. No composite score: each signal is separately verifiable at the source.
Filing behaviour
From the deposit records, complete market-wideDeadline passed, not yet counted as missing
The deadline for the year that closed on 31-12-2025 passed on 31-07-2026, 12 days ago. Our copy of the deposit register trails the National Bank (measured: median 14 days, p99 45 days), so we only call this filing missing from 45 days past the deadline.
Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 24-07-2025, 7 days ahead of the deadline. This speaks to administrative punctuality and says nothing about the financial position.
Filing behaviour not assessed
The register records an open bankruptcy. From that point the trustee files and the ordinary seven-month rhythm no longer governs. The register carries no start date, so we cannot tell which filings fall before it: we show the facts and do not assess the behaviour.
How we compute the deadline
The year end is derived from 10 filed financial years, each closing on 31-12. The statutory deadline is seven months after the close of the financial year (art. 3:10 par. 1 CAC, art. 3:47 par. 7 for ASBL and foundations). Applied to the financial year that closed on 31-12-2024, that is 31-07-2025.
Deadline per financial year
| Year closed | Due by | Filed | Variance | Reference |
|---|---|---|---|---|
| 31-12-2025 | 31-07-2026 | nothing on record | not filed | - |
| 31-12-2024 | 31-07-2025 | 24-07-2025 | 7 d early | 2025-00306135 |
| 31-12-2023 | 31-07-2024 | 14-08-2024 | 14 d late | 2024-00348652 |
| 31-12-2022 | 31-07-2023 | 26-04-2023 | 96 d early | 2023-00069850 |
| 31-12-2021 | 31-07-2022 | 17-08-2022 | 17 d late | 2022-20292109 |
| 31-12-2020 | 31-07-2021 | 15-07-2021 | 16 d early | 2021-36000563 |
| 31-12-2019 | 31-07-2020 | 21-08-2020 | 21 d late | 2020-43600267 |
| 31-12-2018 | 31-07-2019 | 09-07-2019 | 22 d early | 2019-31700161 |
| 31-12-2017 | 31-07-2018 | 20-07-2018 | 11 d early | 2018-36100264 |
| 31-12-2016 | 31-07-2017 | 20-07-2017 | 11 d early | 2017-35400533 |
| 31-12-2015 | 31-07-2016 | 08-07-2016 | 23 d early | 2016-30000002 |
Source: the National Bank's deposit records. Those records are complete, including for years whose figures we have not read yet. Filing late covers nearly half the market and is therefore not scored; only not filing, being more than 90 days late and breaking a punctual record carry weight.
Trust signals
2 signalsRegister: open bankruptcy
The KBO register records legal situation 050 for this company. This is today's state according to the register itself; the register carries no start date.
Open bankruptcy
Active bankruptcy procedure in the Belgisch Staatsblad. Claims are handled by the appointed curator.
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.
Financials
TurnoverNot published (abbreviated filing)
EBIT marginNot published (abbreviated filing)
Net result€-202k
Working capital€-157k
Directors2
Annual accounts & ratios
Source: NBB · 2024Annual accounts filed on 24-07-2025 with the NBB · fiscal year 2024 · micro
Sector comparison
Fiscal year 2024 · NACE 52 · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | -25.3% | 30.3% | |
| Net result | €-202k | €7k | |
| Equity | €-90k | €24k | |
| Gross operating margin | €205k | €35k | |
| Staff costs | €316k | €49k |
Median and position computed from NBB annual accounts filed by sector peers; own figures from the latest filed accounts.
Sector position over time
Percentile per fiscal year versus peers that filed figures, computed year by year (a year without enough peers is absent).
P10
Weakening position over 2020-2024
· n=69-425
P5
Weakening position over 2020-2024
· n=69-425
P5
Stable position over 2020-2024
· n=69-425
P90
Improving position over 2020-2024
· n=69-424
Describes the position versus peers, not a forecast.
€-112k
-
18-24
€-202k
-
18-24
€-135k
-
18-24
€354k
-23.3%
18-24
€-90k
-
18-24
€-157k
-
18-24
7
+39.6%
18-24
€316k
+22.6%
18-24
€676
-96.1%
18-24
€444k
+27.2%
18-24
€300k
+39.6%
18-24
€137k
+4.5%
18-24
0.48
-58.5%
18-24
0.39
-66.0%
18-24
-25.3%
-
18-24
-4.95
-
18-24
225.6%
+661.6%
18-24
-57.2%
-
18-24
-4.92
-
18-24
Figures by fiscal year
| Fiscal year | 2024 |
|---|---|
| Deposit | micro |
| Revenue | - |
| EBITDA | €-112k |
| Net profit | €-202k |
| Cash flow | €-135k |
| Staff costs | €316k |
| Income taxes | €676 |
| Dividends | - |
| Total assets | €354k |
| Equity | €-90k |
| Debt | €444k |
| of which ≤ 1y | €300k |
| of which > 1y | €137k |
| Working capital | €-157k |
| Employees (FTE) | 7.4 |
Ratios (computed)
| 2024 | |
|---|---|
| Current ratio | 0.48 |
| Quick ratio | 0.39 |
| Working capital ratio | -44.4% |
| Solvency | -25.3% |
| Debt / equity | -4.95 |
| Long-term debt ratio | -1.52 |
| Interest coverage | -4.92 |
| Gross margin | - |
| Net margin | - |
| ROA | -57.2% |
| ROE | 225.6% |
| EBITDA margin | - |
| Days sales outstanding | - |
| Days payable outstanding | - |
| Inventory turnover | - |
| Days inventory (DSI) | - |
Balance-sheet composition 2024
Full annual accounts
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 |
|---|---|---|
| Balance sheet, Assets | ||
| TOTAL ASSETS | 20/58 | €354k |
| Fixed assets | 21/28 | €211k |
| Tangible fixed assets | 22/27 | €205k |
| Financial fixed assets | 28 | €6k |
| Current assets | 29/58 | €143k |
| Stocks & contracts in progress | 3 | €26k |
| Amounts receivable within one year | 40/41 | €116k |
| Balance sheet, Equity & liabilities | ||
| TOTAL EQUITY & LIABILITIES | 10/49 | €354k |
| Equity | 10/15 | €-90k |
| Contributions / capital | 10/11 | €19k |
| Reserves | 13 | €118k |
| Accumulated profits (losses) | 14 | €-226k |
| Amounts payable | 17/49 | €444k |
| Amounts payable after one year | 17 | €137k |
| Amounts payable within one year | 42/48 | €300k |
| Trade debts payable within one year | 44 | €106k |
| Income statement | ||
| Gross operating margin | 9900 | €205k |
| Operating result | 9901 | €-179k |
| Financial income | 75 | €16 |
| Financial charges | 65 | €23k |
| Result before taxes | 9903 | €-202k |
| Income taxes | 67/77 | €676 |
| Net result for the period | 9904 | €-202k |
| Result to be appropriated | 9905 | €-202k |
You're seeing the latest fiscal year only. Unlock 4 prior years (figures + ratios) with a paid plan.
See plans →
Ratios computed by Checked.
Health barometer
FY 2024 · computed0
/ 100
Critical
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Unlock the full score breakdown, per-year score history and the indicative credit limit from Kantoor S.
See plans →Computed by Checked from the NBB filing for FY 2024 and an insolvency signal from the Belgian State Gazette. Indicative, not credit advice.
Directors
Directors & mandates
2 directorsCurrent directors & mandates
-
BOFFIN DorienDirectorState Gazette act 23453836 (12-12-2023)Current12-12-2023 → present
Former directors (1)
-
M'CHAÅR Foad HafidDirectorState Gazette act 24030068 (19-02-2024)Former- → 30-06-2021
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.
Insolvency mandates
2 mandates| Role | Name | Tenure | Source |
|---|---|---|---|
| Curator | GERTJAN CUPERS PRINS BISSCHOPSSINGEL 11,
3500 HASSELT |
20-11-2025 → present | Belgian State Gazette |
| Curator | KRISTOF KROL PRINS BISSCHOPSSINGEL 11, 3500 HASSELT- K.Krol@exacto-
advocaten.be |
20-11-2025 → present | Belgian State Gazette |
Legal Structure
| NACE primary | Diensten in verband met vervoer te land(52210) |
| Legal form | Private limited company(610) |
| Incorporation | 10-02-2015 |
| Status | Active |
| Postal code | 3500 |
| First BS signal | 23-06-2025 |
| Latest BS signal | 26-11-2025 |
Structure & network
Ownership & control
No ownership or control structure found in the sources.
For this we read shareholding and parent/subsidiary relations from the acts in the Belgian State Gazette, plus the board seats that legal entities hold in one another. Nothing of the sort is published for this company, which is common: most Belgian companies do not publish a shareholding structure.
2 court or liquidation mandates are on record for this company. Such a mandate is a fact about the company itself, not about a tie to another one: two bankruptcies handled by the same receiver are two separate cases. They are listed under Directors & mandates.
Locations & real estate
Registered office
from the Crossroads BankCannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Koning Boudewijnlaan 20A3500 HasseltEstablishment units
1 locationART3M
since 20152.240.136.707
Physical sites registered in the Crossroads Bank for Enterprises (CBE).
Parcels2
Ground area4.1 ha
Buildings2
Building footprint2.0 ha
Volume (LiDAR)137,991 m³
Tallest building21.6 m · ±2 fl.
Real-estate footprint
Source: CBE × cadastre · address linkingParcels 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.
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71053G0172/00G002 | Flanders | 3.7 ha | 1 · 1.9 ha | 9.8 m · 2 fl. |
| 71323C0286/00F002 | Flanders | 3,766 m² | 1 · 984 m² | 21.6 m · 2 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.
Publications
Lifecycle & Insolvency Signals
3 events from the State Gazette26-11-2025
Bankruptcy
Opening
16-10-2025
Judicial reorganisation
Plan homologation
23-06-2025
Judicial reorganisation
Opening
Time machine: BS events + macro context
2021-2026Macro context
2020-Q2/Q3 COVID lockdown
2022 energy crisis
2023-2024 ECB rate hikes
Legend
Bankruptcy
Interim / reorg
KBO event
Belgisch Staatsblad · acts
6 acts Address history · 4
01-08-2025
Registered-office move
17-03-2025
Registered-office move
11-02-2025
Registered-office move
15-03-2024
Registered-office move
All acts · 6
updated 1 year ago
2025
01-08-2025 Registered office moved from Nieuwerkerken to Hasselt
- Dorpsstraat 37 - 3850 Nieuwerkerken → Koning Boudewijnlaan 20A te 3500 Hasselt
17-03-2025 Registered office moved within Nieuwerkerken
- Dorpsstraat 47 - 3850 Nieuwerkerken → Dorpsstraat 37 3850 Nieuwerkerken
11-02-2025 Registered office moved from Sint-Truiden to Nieuwerkerken
- Bedrijvenstraat 5765 unit 2-3800 Sint-Truiden → Dorpsstraat 47 3850 Nieuwerkerken
2024
15-03-2024 Registered office moved within Sint Truiden
- Grazenseweg 11 te 3803 Sint Truiden → Bedrijvenstraat 5765- unit 2 te 3800 Sint Truiden
19-02-2024 M'CHAÅR Foad Hafid resigns as director correction
- M'CHAÅR Foad Hafid, Bestuurder
2023
12-12-2023 1 director appointed, 1 resigning, 1 reappointed
- BOFFIN Dorien, Bestuurder
- BOFFIN Dorien, Zaakvoerder
- BOFFIN Dorien, Bestuurder
Notary:
Jelle VAN DER WEIJ · Genk
Analysis
Snowflake analysis
financial profile on 5 axes33
/ 100
Fragile profile, watch health in particular.
All 5 axes are computed from data Checked has read.
Health
0
Profitability
100
Solvency
33
Growth
32
Stability
0
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Company registry
Company registry (CBE)
Crossroads BankActivities
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Primary activity highlighted.
Names & trade names
| Legal nameNL | ART3M |
Registered office
Koning Boudewijnlaan 20A
3500 Hasselt, Belgium
Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.