ARTEFACT
ActiveSummary
ARTEFACT has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €231,880 and a net result of €1,266. Equity is growing by ~13.2% per year across the filed fiscal years. Its solvency ranks better than 46% of 31958 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability44▼-31
Solvency76▲+2
Growth83=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €18,000 at 30 days acceptable
Liquidity short (current ratio 0.39 against 0.84 in 2024; short-term debt: 14.9% of total assets), and 48.9% of the assets are financed with debt.
Credit check for your own amount and term
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 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% 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
51.1%
Return on assets
0.3%
Age of the figures
15 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 01-12-2025, 61 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
61 d early
2024
3 d early
2023
1 d early
2022
35 d early
2021
32 d early
2020
2 d early
2019
43 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 25 days before the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 30 December (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close29-09-2026 today31-01-2027 deadline
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Financials · fiscal year 2025, micro schema
Turnover
€155,060▲ 18.4%
2019 · €130,938
EBIT margin
2.3%▼ 10.4pp
2019 · 12.7%
Net result
€1,266▼ 94.4%
2024 · €22,425
Working capital
-€41,073▼ 423%
2024 · -€7,856
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy 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
Turnover
Operating result€81,841▲ 2,218%€86,551▲ 5.8%€88,183▲ 1.9%€40,186▼ 54.4%€12,405▼ 69.1%
Net result€61,607above the sector's middle half€66,266above the sector's middle half▲ 7.6%€65,892above the sector's middle half▼ 0.6%€22,425within the sector's middle half▼ 66.0%€1,266below the sector's middle half▼ 94.4%
EBIT margin
Equity€146,351within the sector's middle half▲ 23.2%€178,617within the sector's middle half▲ 22.0%€209,909within the sector's middle half▲ 17.5%€230,614within the sector's middle half▲ 9.9%€231,880within the sector's middle half▲ 0.5%
Total assets€476,806within the sector's middle half▼ 1.6%€495,249within the sector's middle half▲ 3.9%€475,269within the sector's middle half▼ 4.0%€467,690within the sector's middle half▼ 1.6%€454,105within the sector's middle half▼ 2.9%
Debt€330,455▼ 9.6%€316,632▼ 4.2%€265,360▼ 16.2%€237,076▼ 10.7%€222,225▼ 6.3%
Working capital-€32,741below the sector's middle half▲ 39.7%-€10,350below the sector's middle half▲ 68.4%€11,270within the sector's middle half-€7,856below the sector's middle half-€41,073below the sector's middle half▼ 423%
Solvency30.7%within the sector's middle half▲ 6.2pp36.1%within the sector's middle half▲ 5.4pp44.2%within the sector's middle half▲ 8.1pp49.3%within the sector's middle half▲ 5.1pp51.1%within the sector's middle half▲ 1.8pp
Current ratio0.38below the sector's middle half▲ 0.120.85below the sector's middle half▲ 0.461.24within the sector's middle half▲ 0.400.84below the sector's middle half▼ 0.400.39below the sector's middle half▼ 0.45
Return on assets (ROA)12.9%within the sector's middle half▲ 14.8pp13.4%within the sector's middle half▲ 0.5pp13.9%within the sector's middle half▲ 0.5pp4.8%within the sector's middle half▼ 9.1pp0.3%below the sector's middle half▼ 4.5pp
above
within
below
the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen two years in a row; 2025 is 69% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €454,105
Fixed assets
€427,729 ▲ 0.6%
Current assets
€26,376 ▼ 38.0%
Equity and liabilities €454,105
Equity
€231,880 ▲ 0.5%
Debt
€222,225 ▼ 6.3%
Debt's share of the balance-sheet total falls from 50.7% to 48.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€29,867▼
2024 · €56,119
Cash flow
€18,728▼
2024 · €38,358
Debt to equity
0.96▼
2024 · 1.03
ROE
0.5%▼
2024 · 9.7%
Interest coverage
2.93▼
2024 · 6.32
Debt ≤ 1 year
€67,449▲
2024 · €50,407
Debt > 1 year
€154,776▼
2024 · €186,669
Income taxes
€942▼
2024 · €8,880
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,048 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 96% are still going.
- Small
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.4%
went bankrupt
3.6%
stopped otherwise
96%
still going
For this company itself Checked computes a bankruptcy probability of 0.1% 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 6,048 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €36,959 | €21,310 | €19,718 | €15,933 | €17,462 | ▲ 9.6% |
| Other operating charges640/8 | - | €3,841 | €3,779 | €3,970 | €4,299 | ▲ 8.3% |
| Gross operating margin9900 | €122,613 | €111,702 | €111,680 | €60,089 | €34,166 | ▼ 43.1% |
| Operating profit (loss)9901 | €81,841 | €86,551 | €88,183 | €40,186 | €12,405 | ▼ 69.1% |
| Financial charges65/66B | - | €11,022 | €10,754 | €8,881 | €10,197 | ▲ 14.8% |
| Recurring financial charges65 | €10,042 | €11,022 | €10,754 | €8,881 | €10,197 | ▲ 14.8% |
| Profit (loss) for the period before taxes9903 | €71,799 | €75,529 | €77,429 | €31,305 | €2,208 | ▼ 92.9% |
| Income taxes67/77 | €10,192 | €9,263 | €11,537 | €8,880 | €942 | ▼ 89.4% |
| Profit (loss) for the period9904 | €61,607 | €66,266 | €65,892 | €22,425 | €1,266 | ▼ 94.4% |
| Profit (loss) for the period to be appropriated9905 | €61,607 | €66,266 | €65,892 | €22,425 | €1,266 | ▼ 94.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €476,806 | €495,249 | €475,269 | €467,690 | €454,105 | ▼ 2.9% |
| Fixed assets21/28 | €456,388 | €437,663 | €417,945 | €425,139 | €427,729 | ▲ 0.6% |
| Tangible fixed assets22/27 | €456,388 | €437,663 | €417,945 | €425,139 | €427,729 | ▲ 0.6% |
| Land and buildings22 | - | €412,222 | €399,483 | €386,745 | €374,006 | ▼ 3.3% |
| Plant, machinery and equipment23 | - | €18,866 | €17,090 | €21,520 | €40,198 | ▲ 86.8% |
| Furniture and vehicles24 | - | €6,575 | €1,372 | €1,833 | €1,197 | ▼ 34.7% |
| Assets under construction and advance payments27 | - | - | - | €15,041 | €12,328 | ▼ 18.0% |
| Current assets29/58 | €20,418 | €57,586 | €57,324 | €42,551 | €26,376 | ▼ 38.0% |
| Amounts receivable within one year40/41 | €15,790 | €54,373 | €53,498 | €17,750 | €25,128 | ▲ 41.6% |
| Trade receivables40 | - | €14,500 | €4,374 | €11,000 | €11,000 | = |
| Other amounts receivable41 | - | €39,873 | €49,124 | €6,750 | €14,128 | ▲ 109% |
| Cash at bank and in hand54/58 | €3,962 | €892 | €3,163 | €23,508 | - | - |
| Deferred charges and accrued income490/1 | - | €2,321 | €663 | €1,293 | €1,248 | ▼ 3.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €476,806 | €495,249 | €475,269 | €467,690 | €454,105 | ▼ 2.9% |
| Equity10/15 | €146,351 | €178,617 | €209,909 | €230,614 | €231,880 | ▲ 0.5% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €13,460 | €13,460 | €1,860 | €22,460 | €23,660 | ▲ 5.3% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | €11,600 | - | €20,600 | €21,800 | ▲ 5.8% |
| Profit (loss) carried forward14 | €114,291 | €146,557 | €189,449 | €189,554 | €189,620 | = |
| Amounts payable17/49 | €330,455 | €316,632 | €265,360 | €237,076 | €222,225 | ▼ 6.3% |
| Amounts payable after more than one year17 | €277,296 | €248,696 | €219,306 | €186,669 | €154,776 | ▼ 17.1% |
| Financial debts170/4 | - | €248,696 | €219,306 | €186,669 | €154,776 | ▼ 17.1% |
| Amounts payable within one year42/48 | €53,159 | €67,936 | €46,054 | €50,407 | €67,449 | ▲ 33.8% |
| Current portion of amounts payable after more than one year42 | - | €32,495 | €32,240 | €34,579 | €35,441 | ▲ 2.5% |
| Financial debts43 | - | €34,512 | - | - | €30,708 | - |
| Credit institutions430/8 | - | €34,512 | - | - | €30,708 | - |
| Trade debts44 | €2,374 | €929 | €1,414 | €304 | €632 | ▲ 108% |
| Suppliers440/4 | - | €929 | €1,414 | €304 | €632 | ▲ 108% |
| Taxes, remuneration and social security45 | - | - | - | - | €123 | - |
| Taxes450/3 | - | - | - | - | €123 | - |
| Other amounts payable47/48 | - | - | €12,400 | €15,524 | €545 | ▼ 96.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €61,607 | €66,266 | €65,892 | €22,425 | €1,266 | ▼ 94.4% |
| + Depreciation and write-downs630 | €36,959 | €21,310 | €19,718 | €15,933 | €17,462 | ▲ 9.6% |
| Operating cash flow (approximation) | €98,566 | €87,576 | €85,610 | €38,358 | €18,728 | ▼ 51.2% |
| Investment in fixed assets (approximation) | - | -€2,585 | €0 | -€23,127 | -€20,052 | ▲ 13.3% |
| Change in cash | - | -€3,070 | €2,271 | €20,345 | - | - |
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
2025
01-12
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
28-01
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-01
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-06
Financial
Equity above €200,000Eq €209,909 ▲17.5%
3 profitable years in a row build equity to €209,909.
2022
27-12
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
30-06
Financial
Highest result since 2019net €66,266 ▲7.6%
Net result €66,266, the highest in the series.
30-06
Financial
Equity above €150,000Eq €178,617 ▲22%
2 profitable years in a row build equity to €178,617.
2021
30-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
30-06
Financial
Back to profitnet €61,607
Net result €61,607 after 2 loss-making years.
29-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-06
Financial
Weakest financial yearnet -€9,181
Net result drops to -€9,181, the lowest in the series; recovery starts the following year.
2019
19-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
14-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
22-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
20-12
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.
Directors · office · real estate
Directors
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Location & real-estate footprint
Registered office, Nivelles
Ground area
2,063 m²
Building footprint
549 m²
Volume, LiDAR
4,628 m³
Parcel 25783F0061/00K000, Wallonia · tallest building 10.8 m, ±3 floors. Linked by address, not a title deed.
8
companies at this address
See who is registered here
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25783F0061/00K000 | Wallonia | 2,063 m² | 1 · 549 m² | 10.8 m · 3 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.
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Of 82,646 companies in sector 70200 we hold annual accounts for 52,627. 39,261 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 (pre-2019)
Founded12-10-2007
Fiscal year end30-06
Activities, NACEBEL 2025
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID
0208:0892758306
Registered
06-01-2026
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.