ARTELON
ActiveSummary
The annual accounts of ARTELON for fiscal year 2025 show a net loss of 52% of the equity at the start of that year. The 2025 annual accounts show equity of €34,283 and a net result of -€37,212. Equity is shrinking by ~5.7% per year across the filed fiscal years. Its solvency ranks better than 20% of 28806 sector peers (fiscal year 2025). The company has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 1.3% (low).
Overview
What they do
Other specialised construction activities
NACE 43990NACE 43999
1 site
How big
€197,111total assets 2025
- Equity
- €34,283
- Loss
- -€37,212
Turnover not published (abridged schema)
Who decides
Accounts filed 61 d late0 of 5 deeds read
Why 47- Higher-failure-rate sector- Annual accounts: weaker financial profile- Persistent losses- Weak solvency vs sectorFiled after the deadlineShow the evidence
Checked score
Score 2025
Axes · tick = 2024
Profitability48▲+48
Solvency42▼-2
Growth32=
Track record100
Bankruptcy probability, 12 months
1.3%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.65 against 0.76 in 2024; short-term debt: 62% and cash: 1.8% of total assets), and 82.6% 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.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
17.4%
Return on assets
-18.9%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€37,212
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 28806 sector peers (2025).
NBB · sector comparisonPosition among 28806 sector peers
Solvency
better than 20%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-09-2026, 61 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 9 filingsDeviation from the deadline
2025
61 d late
2024
22 d late
2023
29 d early
2022
31 d late
2021
31 d late
2020
31 d late
2019
2 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 21 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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 31 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
- Annual accounts filedfiscal year 2025 · micro…
- Annual accounts filedfiscal year 2024 · micro…
- Weakest financial yearnet -€68,621
Financials
Fiscal year 2025Total assets €197,111Loss -€37,212Solvency 17.4%Liquidity 0.65
Total assets
€197,111▼ 46.6%
2018 - 2025
Net result
-€37,212▲ 45.8%
2018 - 2025
Equity
€34,283▼ 52.0%
2018 - 2025
Solvency
17.4%▼ 2.0pp
2018 - 2025
Financials · fiscal year 2025, micro schema
Trend over the years
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€6,532▼ 84.0%€13,404▲ 105%-€25,617-€71,910▼ 181%-€35,714▲ 50.3%
Net result€575below the sector's middle half▼ 98.1%€8,415within the sector's middle half▲ 1,364%-€24,926below the sector's middle half-€68,621below the sector's middle half▼ 175%-€37,212below the sector's middle half▲ 45.8%
Equity€156,627above the sector's middle half▲ 0.4%€165,042above the sector's middle half▲ 5.4%€140,116above the sector's middle half▼ 15.1%€71,495within the sector's middle half▼ 49.0%€34,283within the sector's middle half▼ 52.0%
Total assets€331,967above the sector's middle half▲ 13.6%€241,414within the sector's middle half▼ 27.3%€344,955above the sector's middle half▲ 42.9%€368,952above the sector's middle half▲ 7.0%€197,111within the sector's middle half▼ 46.6%
Debt€175,340▲ 28.9%€76,372▼ 56.4%€204,839▲ 168%€297,457▲ 45.2%€162,828▼ 45.3%
Working capital€38,227within the sector's middle half▲ 375%€76,242within the sector's middle half▲ 99.4%-€12,501below the sector's middle half-€57,751below the sector's middle half▼ 362%-€43,274below the sector's middle half▲ 25.1%
Solvency47.2%within the sector's middle half▼ 6.2pp68.4%above the sector's middle half▲ 21.2pp40.6%within the sector's middle half▼ 27.7pp19.4%below the sector's middle half▼ 21.2pp17.4%below the sector's middle half▼ 2.0pp
Current ratio1.22within the sector's middle half▲ 0.162.00within the sector's middle half▲ 0.780.94below the sector's middle half▼ 1.060.76below the sector's middle half▼ 0.180.65below the sector's middle half▼ 0.11
Return on assets (ROA)0.2%below the sector's middle half▼ 10.2pp3.5%within the sector's middle half▲ 3.3pp-7.2%below the sector's middle half▼ 10.7pp-18.6%below the sector's middle half▼ 11.4pp-18.9%below the sector's middle half▼ 0.3pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction 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 and balance sheet
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €35,714 in 2025 against €71,910 in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €197,111
Fixed assets
€118,172 ▼ 36.7%
Current assets
€78,939 ▼ 56.7%
Equity and liabilities €197,111
Equity
€34,283 ▼ 52.0%
Debt
€162,828 ▼ 45.3%
Debt's share of the balance-sheet total rises from 80.6% to 82.6%. Equity and debt are lower.
Key figures and ratios
Key figures and ratios
EBITDA
€32,703▲
2024 · -€6,796
Cash flow
€31,206▲
2024 · -€3,506
Debt to equity
4.75▲
2024 · 4.16
ROE
-108.5%▼
2024 · -96.0%
Interest coverage
5.80▲
2024 · -1.25
Debt ≤ 1 year
€122,213▼
2024 · €240,114
Debt > 1 year
€40,614▼
2024 · €57,343
Income taxes
€302
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,133 companies that looked in July 2024 the way this one looks now, 6.4% went bankrupt within 24 months and 86% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
6.4%
went bankrupt
6.6%
stopped otherwise
86%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 1.3% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 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% | 1.8% |
| 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 1,133 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.
Filed annual accounts
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29,600 | €29,600 | €31,183 | €65,114 | €68,417 | ▲ 5.1% |
| Other operating charges640/8 | €4,898 | €4,619 | €23,551 | €6,967 | €4,244 | ▼ 39.1% |
| Gross operating margin9900 | €41,030 | €47,623 | €29,117 | €171 | €36,948 | ▲ 21,490% |
| Operating profit (loss)9901 | €6,532 | €13,404 | -€25,617 | -€71,910 | -€35,714 | ▲ 50.3% |
| Financial income75/76B | €0 | €0 | €6,185 | €8,727 | €4,440 | ▼ 49.1% |
| Recurring financial income75 | €0 | €0 | €6,185 | €8,727 | €4,440 | ▼ 49.1% |
| Financial charges65/66B | €5,183 | €2,674 | €5,494 | €5,437 | €5,635 | ▲ 3.6% |
| Recurring financial charges65 | €5,183 | €2,674 | €5,494 | €5,437 | €5,635 | ▲ 3.6% |
| Profit (loss) for the period before taxes9903 | €1,349 | €10,731 | -€24,926 | -€68,621 | -€36,909 | ▲ 46.2% |
| Income taxes67/77 | €774 | €2,316 | - | - | €302 | - |
| Profit (loss) for the period9904 | €575 | €8,415 | -€24,926 | -€68,621 | -€37,212 | ▲ 45.8% |
| Profit (loss) for the period to be appropriated9905 | €575 | €8,415 | -€24,926 | -€68,621 | -€37,212 | ▲ 45.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €331,967 | €241,414 | €344,955 | €368,952 | €197,111 | ▼ 46.6% |
| Fixed assets21/28 | €118,400 | €88,800 | €152,617 | €186,589 | €118,172 | ▼ 36.7% |
| Tangible fixed assets22/27 | €118,400 | €88,800 | €152,617 | €186,589 | €118,172 | ▼ 36.7% |
| Plant, machinery and equipment23 | €118,400 | €88,800 | €152,617 | €104,017 | €55,417 | ▼ 46.7% |
| Leasing and similar rights25 | - | - | - | €82,572 | €62,755 | ▼ 24.0% |
| Current assets29/58 | €213,567 | €152,614 | €192,338 | €182,363 | €78,939 | ▼ 56.7% |
| Stocks and contracts in progress3 | €24,514 | - | - | - | - | - |
| Stocks30/36 | €24,514 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €159,139 | €151,079 | €153,306 | €152,694 | €75,296 | ▼ 50.7% |
| Trade receivables40 | €72,703 | €59,397 | €7,383 | €6,958 | €57,105 | ▲ 721% |
| Other amounts receivable41 | €86,436 | €91,682 | €145,924 | €145,735 | €18,192 | ▼ 87.5% |
| Cash at bank and in hand54/58 | €28,591 | €1,535 | €39,032 | €1,621 | €3,643 | ▲ 125% |
| Deferred charges and accrued income490/1 | €1,323 | - | - | €28,049 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €331,967 | €241,414 | €344,955 | €368,952 | €197,111 | ▼ 46.6% |
| Equity10/15 | €156,627 | €165,042 | €140,116 | €71,495 | €34,283 | ▼ 52.0% |
| Contributions10/11 | €98,300 | €98,300 | €98,300 | €98,300 | €98,300 | = |
| Reserves13 | €1,369 | €1,369 | €1,369 | €1,369 | €1,369 | = |
| Non-distributable reserves130/1 | €1,369 | €1,369 | - | - | - | - |
| Reserves not available under the articles1311 | €1,369 | €1,369 | - | - | - | - |
| Distributable reserves133 | - | - | €1,369 | €1,369 | €1,369 | = |
| Profit (loss) carried forward14 | €56,958 | €65,372 | €40,446 | -€28,174 | -€65,386 | ▼ 132% |
| Amounts payable17/49 | €175,340 | €76,372 | €204,839 | €297,457 | €162,828 | ▼ 45.3% |
| Amounts payable after more than one year17 | - | - | - | €57,343 | €40,614 | ▼ 29.2% |
| Financial debts170/4 | - | - | - | €57,343 | €40,614 | ▼ 29.2% |
| Amounts payable within one year42/48 | €175,340 | €76,372 | €204,839 | €240,114 | €122,213 | ▼ 49.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €15,576 | €16,729 | ▲ 7.4% |
| Trade debts44 | €84,453 | €25,801 | €182,723 | €203,856 | €73,013 | ▼ 64.2% |
| Suppliers440/4 | €84,453 | €25,801 | €182,723 | €203,856 | €73,013 | ▼ 64.2% |
| Advances received on contracts in progress46 | €70,604 | - | €19,800 | €19,800 | €19,800 | = |
| Taxes, remuneration and social security45 | €20,283 | €50,571 | €2,316 | €882 | €12,672 | ▲ 1,337% |
| Taxes450/3 | €20,283 | €50,571 | €2,316 | €882 | €12,672 | ▲ 1,337% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €575 | €8,415 | -€24,926 | -€68,621 | -€37,212 | ▲ 45.8% |
| + Depreciation and write-downs630 | €29,600 | €29,600 | €31,183 | €65,114 | €68,417 | ▲ 5.1% |
| Operating cash flow (approximation) | €30,175 | €38,015 | €6,257 | -€3,506 | €31,206 | ▲ 990% |
| Investment in fixed assets (approximation) | - | €0 | -€95,000 | -€99,087 | €0 | ▲ 100% |
| Change in cash | - | -€27,056 | €37,497 | -€37,411 | €2,022 | ▲ 105% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Comparable companies
Similar companies · same sector, comparable size
ENTREPRISES GENERALES - DICOREN
BE 0534.504.741
Elsene · Eq €34,268
AM Constructions
BE 0880.047.841
Herent · Eq €34,314
EPC IMMO
BE 0652.619.364
Fexhe-le-Haut-Clocher · Eq €34,335
LACOSTI
BE 0825.238.980
Anderlecht · Eq €34,365
KRISMA BOUW
BE 0543.619.573
Anzegem · Eq €34,186
Of 15,515 companies in this sector we hold annual accounts for 7,424. 5,815 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Timeline
12 eventsLatest 30-09-2026Next filing 31-07-2027
History
Acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
30-09
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 61 days late
2025
22-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 22 days late
2024
31-12
Financial
Weakest financial yearnet -€68,621
Net result drops to -€68,621, the lowest in the series; recovery starts the following year.
02-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Highest result since 2018net €30,367 ▲45.8%
Operating result €40,900, net result €30,367, both a record.
31-12
Financial
Equity above €150,000Eq €156,052 ▲25.2%
3 profitable years in a row build equity to €156,052.
29-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
23-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 54 days late
2018
26-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 57 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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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Company details
Private limited company · founded 18-04-2017Year ends 31-12Peppol reachable1 site
Register details
Identification
Legal formPrivate limited company
Founded18-04-2017
Fiscal year end31-12
Activities, NACEBEL 2025
43990Other specialised construction activities
31002Manufacture of furniture
46839Wholesale trade
47529Retail trade
47551Retail sale of household furniture
E-invoicing
Reachable via Peppol
Peppol ID
0208:0674615006
Also
9925:BE0674615006
Registered
04-07-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Sites & property
Location & real-estate footprint
Registered office, Lokeren · 1 establishment unit since 2017
Ground area
338 m²
Building footprint
329 m²
Volume, LiDAR
1,694 m³
Parcel 46384E0922/00L000, Flanders · tallest building 10.8 m, ±1 floor. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
ARTELON
since 2017unit no. 2.263.467.779
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46384E0922/00L000 | Flanders | 338 m² | 1 · 329 m² | 10.8 m · 1 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.
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 trust this company with building work?Contractor check 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
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