ARTEMISIA
ActiveSummary
ARTEMISIA has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €66,129 and a net result of -€4,320. Equity is shrinking by ~2.6% per year across the filed fiscal years. Its solvency ranks better than 80% of 406 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability63▼-32
Solvency92▼-2
Growth58▼-20
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days acceptable
Liquidity ample (current ratio 1.83 against 1.97 in 2024; short-term debt: 27.5% and cash: 27.4% of total assets), and 32.6% of the assets are financed with debt.
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Signals
Six 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 42
Relative position
BE, all sectors
reference
Civil engineering (NACE 42)
about 27% 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
67.4%
Return on assets
-4.4%
Age of the figures
9 mo
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 02-07-2026, 29 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
29 d early
2024
on the day
2023
34 d early
2022
32 d early
2021
10 d late
2020
23 d early
2019
32 d late
← 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 11 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 40% 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.
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€66,129▼ 6.1%
2024 · €70,449
Total assets
€98,058▼ 4.1%
2024 · €102,229
Net result
-€4,320
2024 · €21,516
Working capital
€22,403▼ 5.6%
2024 · €23,723
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 42, Civil engineering, 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-€7,659-€9,086▼ 18.6%-€8,432▲ 7.2%€23,122-€3,809
Net result-€8,043below the sector's middle half-€9,487below the sector's middle half▼ 18.0%-€8,624below the sector's middle half▲ 9.1%€21,516within the sector's middle half-€4,320below the sector's middle half
Equity€67,044within the sector's middle half▼ 10.7%€57,557within the sector's middle half▼ 14.2%€48,934within the sector's middle half▼ 15.0%€70,449within the sector's middle half▲ 44.0%€66,129below the sector's middle half▼ 6.1%
Total assets€68,572below the sector's middle half▼ 17.3%€63,826below the sector's middle half▼ 6.9%€58,353below the sector's middle half▼ 8.6%€102,229within the sector's middle half▲ 75.2%€98,058below the sector's middle half▼ 4.1%
Debt€1,528▼ 80.5%€6,268▲ 310%€9,419▲ 50.3%€31,780▲ 237%€31,929▲ 0.5%
Working capital€62,190within the sector's middle half▼ 2.7%€53,743within the sector's middle half▼ 13.6%€46,182within the sector's middle half▼ 14.1%€23,723within the sector's middle half▼ 48.6%€22,403within the sector's middle half▼ 5.6%
Solvency97.8%above the sector's middle half▲ 7.2pp90.2%above the sector's middle half▼ 7.6pp83.9%above the sector's middle half▼ 6.3pp68.9%above the sector's middle half▼ 14.9pp67.4%above the sector's middle half▼ 1.5pp
Current ratio41.70above the sector's middle half▲ 32.559.57above the sector's middle half▼ 32.135.92above the sector's middle half▼ 3.661.97within the sector's middle half▼ 3.941.83within the sector's middle half▼ 0.14
Return on assets (ROA)-11.7%below the sector's middle half▼ 14.5pp-14.9%below the sector's middle half▼ 3.1pp-14.8%below the sector's middle half▲ 0.1pp21.0%within the sector's middle half▲ 35.8pp-4.4%below the sector's middle half▼ 25.5pp
above
within
below
the middle half (P25 to P75) of NACE 42, Civil engineering, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €3,809 after €23,122 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €98,058
Fixed assets
€48,692 ▼ 10.1%
Current assets
€49,366 ▲ 2.7%
Equity and liabilities €98,058
Equity
€66,129 ▼ 6.1%
Debt
€31,929 ▲ 0.5%
Debt's share of the balance-sheet total rises from 31.1% to 32.6%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€9,154▼
2024 · €25,999
Cash flow
€8,642▼
2024 · €24,393
Quick ratio
1.81▼
2024 · 1.96
Debt to equity
0.48▲
2024 · 0.45
ROE
-6.5%▼
2024 · 30.5%
Interest coverage
17.03▼
2024 · 64.35
Debt ≤ 1 year
€26,964▲
2024 · €24,352
Debt > 1 year
€4,966▼
2024 · €7,428
Income taxes
€460▼
2024 · €2,050
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.6%
went bankrupt
8.5%
stopped otherwise
90%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 12,321 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 | €6,299 | €1,039 | €1,039 | €2,877 | €12,962 | ▲ 351% |
| Other operating charges640/8 | €723 | €728 | €754 | €2,013 | €1,038 | ▼ 48.4% |
| Gross operating margin9900 | -€637 | -€7,318 | -€6,638 | €28,012 | €10,192 | ▼ 63.6% |
| Operating profit (loss)9901 | -€7,659 | -€9,086 | -€8,432 | €23,122 | -€3,809 | ▼ 116% |
| Financial income75/76B | €19 | - | €221 | €848 | €486 | ▼ 42.8% |
| Recurring financial income75 | €19 | - | €221 | €848 | €486 | ▼ 42.8% |
| Financial charges65/66B | €241 | €235 | €232 | €404 | €538 | ▲ 33.1% |
| Recurring financial charges65 | €241 | €235 | €232 | €404 | €538 | ▲ 33.1% |
| Profit (loss) for the period before taxes9903 | -€7,881 | -€9,321 | -€8,443 | €23,566 | -€3,861 | ▼ 116% |
| Income taxes67/77 | €162 | €166 | €181 | €2,050 | €460 | ▼ 77.6% |
| Profit (loss) for the period9904 | -€8,043 | -€9,487 | -€8,624 | €21,516 | -€4,320 | ▼ 120% |
| Profit (loss) for the period to be appropriated9905 | -€8,043 | -€9,487 | -€8,624 | €21,516 | -€4,320 | ▼ 120% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €68,572 | €63,826 | €58,353 | €102,229 | €98,058 | ▼ 4.1% |
| Fixed assets21/28 | €4,854 | €3,815 | €2,775 | €54,154 | €48,692 | ▼ 10.1% |
| Tangible fixed assets22/27 | €4,854 | €3,815 | €2,775 | €54,154 | €48,692 | ▼ 10.1% |
| Land and buildings22 | €4,557 | €3,666 | €2,775 | €1,885 | €7,274 | ▲ 286% |
| Furniture and vehicles24 | €297 | €149 | - | €52,270 | €41,418 | ▼ 20.8% |
| Current assets29/58 | €63,718 | €60,011 | €55,578 | €48,075 | €49,366 | ▲ 2.7% |
| Stocks and contracts in progress3 | €1,397 | €936 | €860 | €345 | €690 | ▲ 99.9% |
| Stocks30/36 | €1,397 | €936 | €860 | €345 | €690 | ▲ 99.9% |
| Amounts receivable within one year40/41 | €3,615 | €4,780 | €1,606 | €5,731 | €2,789 | ▼ 51.3% |
| Trade receivables40 | €981 | €735 | €735 | €735 | €735 | = |
| Other amounts receivable41 | €2,634 | €4,045 | €871 | €4,996 | €2,054 | ▼ 58.9% |
| Current investments50/53 | - | - | €36,000 | €18,000 | €19,000 | ▲ 5.6% |
| Cash at bank and in hand54/58 | €58,706 | €52,956 | €15,623 | €22,538 | €26,887 | ▲ 19.3% |
| Deferred charges and accrued income490/1 | - | €1,339 | €1,489 | €1,461 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €68,572 | €63,826 | €58,353 | €102,229 | €98,058 | ▼ 4.1% |
| Equity10/15 | €67,044 | €57,557 | €48,934 | €70,449 | €66,129 | ▼ 6.1% |
| Contributions10/11 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Capital10 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Issued capital100 | €61,973 | €61,973 | €61,973 | €61,973 | €61,973 | = |
| Reserves13 | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Non-distributable reserves130/1 | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Legal reserve130 | €6,197 | €6,197 | €6,197 | €6,197 | €6,197 | = |
| Profit (loss) carried forward14 | -€1,126 | -€10,613 | -€19,237 | €2,279 | -€2,042 | ▼ 190% |
| Amounts payable17/49 | €1,528 | €6,268 | €9,419 | €31,780 | €31,929 | ▲ 0.5% |
| Amounts payable after more than one year17 | - | - | - | €7,428 | €4,966 | ▼ 33.1% |
| Financial debts170/4 | - | - | - | €7,428 | €4,966 | ▼ 33.1% |
| Amounts payable within one year42/48 | €1,528 | €6,268 | €9,395 | €24,352 | €26,964 | ▲ 10.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €2,378 | €2,462 | ▲ 3.5% |
| Trade debts44 | €1,528 | €2,198 | €3,189 | €2,212 | €722 | ▼ 67.3% |
| Suppliers440/4 | €1,528 | €2,198 | €3,189 | €2,212 | €722 | ▼ 67.3% |
| Taxes, remuneration and social security45 | - | - | €216 | €2,056 | €1,134 | ▼ 44.8% |
| Taxes450/3 | - | - | €216 | €2,056 | €1,134 | ▼ 44.8% |
| Other amounts payable47/48 | - | €4,070 | €5,990 | €17,707 | €22,645 | ▲ 27.9% |
| Accrued charges and deferred income492/3 | - | - | €24 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€8,043 | -€9,487 | -€8,624 | €21,516 | -€4,320 | ▼ 120% |
| + Depreciation and write-downs630 | €6,299 | €1,039 | €1,039 | €2,877 | €12,962 | ▲ 351% |
| Operating cash flow (approximation) | -€1,744 | -€8,448 | -€7,584 | €24,393 | €8,642 | ▼ 64.6% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€54,256 | -€7,500 | ▲ 86.2% |
| Change in cash | - | -€5,750 | -€37,333 | €6,915 | €4,349 | ▼ 37.1% |
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
02-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Back to profitnet €21,516
Net result €21,516 after 3 loss-making years.
27-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
10-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 10 days late
2021
31-12
Financial
Liquidity times 5current ratio 41.70
Current ratio from 9.15 to 41.70; short-term debt falls from €7,843 to €1,528.
08-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
01-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 32 days late
2019
31-12
Financial
Back to profitnet €9,790
Net result €9,790 after one loss-making year.
01-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 1 day late
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
23-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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, Hannut · 1 establishment unit since 1993
Ground area
4,295 m²
Building footprint
1,049 m²
Volume, LiDAR
13,883 m³
2 parcels, Wallonia · tallest building 19.8 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
Rue du Village, F.-W. 50, 5380 Fernelmont
since 19932.064.436.350
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92049B0137/00B000 | Wallonia | 3,630 m² | 1 · 983 m² | 19.8 m · 5 fl. |
| 64001A0563/00G000 | Wallonia | 665 m² | 1 · 66 m² | 6.9 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 2,325 companies in sector 42110 we hold annual accounts for 1,096. 701 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
Founded08-10-1993
Fiscal year end31-12
Activities, NACEBEL 2025
42110Construction of roads and motorways
01301Crop and animal production, hunting and related service activities
43333Wallpapering and laying of floor and wall coverings in other materials
43341Painting of buildings
47761Retail sale of flowers, plants, seeds and fertilisers
81300Landscape service activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0451123640
Also
9925:BE0451123640
Registered
30-10-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.