Arternative (0643.646.369): financials and annual accounts

Arternative

Antwerp ·KBO/BCE: BE 0643.646.369

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Balance sheet: assets
Total assets`20/58`	8.1m	6.5m	5.3m	2.8m	1.4m	738,589	482,352	415,842	170,069	80,232
Fixed assets`21/28`	763,377	664,551	240,485	229,289	246,965	26,689	13,650	17,530	18,597	19,721
Tangible fixed assets`22/27`	692,252	637,061	212,995	214,049	194,725	10,449	12,910	14,840	17,857	19,141
Land and buildings`22`	90,884	48,247	23,058	5,905	7,989	10,073	12,157	14,241	16,325	18,409
Plant, machinery and equipment`23`	3,575	3,466	-	-	-	-	-	-	-	-
Furniture and vehicles`24`	11,970	13,172	21,505	17,073	1,323	377	753	600	1,532	732
Other tangible fixed assets`26`	585,823	572,175	168,432	191,072	185,413	-	-	-	-	-
Financial fixed assets`28`	71,125	27,490	27,490	15,240	52,240	16,240	740	2,690	740	580
Other financial fixed assets`284/8`	71,125	-	-	-	-	-	-	-	-	-
Amounts receivable and cash guarantees`285/8`	71,125	-	-	-	-	-	-	-	-	-
Current assets`29/58`	7.4m	5.8m	5.1m	2.6m	1.1m	711,900	468,702	398,312	151,472	60,511
Stocks and contracts in progress`3`	5.6m	3.5m	2.7m	1.1m	261,148	488,269	137,308	66,697	77,829	31,111
Stocks`30/36`	5.6m	3.5m	2.7m	1.1m	261,148	488,269	137,308	66,697	77,829	31,111
Goods purchased for resale`34`	5.6m	-	-	-	-	-	-	-	-	-
Amounts receivable within one year`40/41`	1.1m	1.0m	1.5m	481,433	753,368	88,244	260,365	236,694	48,178	18,462
Trade receivables`40`	942,816	969,954	1.4m	442,921	666,001	83,588	259,122	228,504	43,215	16,020
Other amounts receivable`41`	153,173	31,373	48,133	38,511	87,367	4,656	1,243	8,190	4,963	2,442
Current investments`50/53`	174,482	174,482	174,482	-	-	-	-	-	-	-
Own shares`50`	174,482	-	-	-	-	-	-	-	-	-
Cash at bank and in hand`54/58`	461,565	1.1m	702,298	991,208	120,464	134,178	71,029	91,256	23,012	10,937
Deferred charges and accrued income`490/1`	65,151	44,925	23,198	16,033	1,116	1,208	-	3,666	2,452	1
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	8.1m	6.5m	5.3m	2.8m	1.4m	738,589	482,352	415,842	170,069	80,232
Equity`10/15`	2.5m	1.6m	785,271	245,692	254,264	188,506	103,042	49,716	-120,457	-66,343
Contributions`10/11`	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600	18,600
Issued capital`100`	-	-	-	-	-	-	18,600	18,600	18,600	18,600
Reserves`13`	176,342	176,342	176,342	1,860	1,860	1,860	1,860	1,860	-	-
Non-distributable reserves`130/1`	176,342	176,342	176,342	1,860	1,860	1,860	-	-	-	-
Legal reserve`130`	-	-	-	-	-	-	1,860	1,860	-	-
Reserves not available under the articles`1311`	1,860	1,860	1,860	1,860	1,860	1,860	-	-	-	-
Own shares acquired`1312`	174,482	174,482	174,482	-	-	-	-	-	-	-
Profit (loss) carried forward`14`	2.3m	1.4m	590,329	225,232	233,804	168,046	82,582	29,256	-139,057	-84,943
Amounts payable`17/49`	5.7m	4.9m	4.5m	2.5m	1.1m	550,083	379,310	366,127	290,526	146,575
Amounts payable after more than one year`17`	311,153	500,802	683,627	279,002	314,633	190,000	190,000	190,000	226,400	101,400
Financial debts`170/4`	311,153	500,802	683,627	279,002	314,633	190,000	190,000	190,000	226,400	101,400
Credit institutions`173`	311,153	-	-	-	-	-	-	-	-	-
Amounts payable within one year`42/48`	5.3m	4.4m	3.9m	2.3m	814,163	359,998	189,309	171,593	61,003	45,175
Current portion of amounts payable after more than one year`42`	1.3m	99,552	95,375	35,631	35,051	-	-	-	-	-
Financial debts`43`	0	100,000	605,000	595,000	230,000	-	-	-	-	-
Credit institutions`430/8`	0	100,000	605,000	595,000	230,000	-	-	-	-	-
Trade debts`44`	2.6m	2.3m	2.0m	872,728	59,597	177,037	14,979	24,132	42,925	28,019
Suppliers`440/4`	2.6m	2.3m	2.0m	872,728	59,597	177,037	14,979	24,132	42,925	28,019
Advances received on contracts in progress`46`	173,462	108,755	-	-	-	-	-	-	-	-
Taxes, remuneration and social security`45`	984,164	1.4m	1.1m	652,896	347,905	90,201	81,570	46,761	18,078	17,156
Taxes`450/3`	803,866	1.3m	973,216	547,763	281,143	74,251	66,405	39,130	12,901	12,205
Remuneration and social security`454/9`	180,299	142,794	95,759	105,133	66,761	15,950	15,166	7,631	5,177	4,951
Other amounts payable`47/48`	212,796	380,000	92,760	100,700	141,611	92,760	92,760	100,700	-	-
Accrued charges and deferred income`492/3`	36,349	0	7,036	-	-	86	1	4,533	3,122	0
Income statement
Operating income`70/76A`	18.6m	-	-	-	-	-	-	-	-	-
Turnover`70`	18.6m	-	-	-	-	-	-	-	-	-
Other operating income`74`	13,787	-	-	-	-	-	-	-	-	-
Non-recurring operating income`76A`	-	-	-	-	-	-	-	-	-	30
Gross operating margin`9900`	-	3.7m	2.1m	1.0m	656,053	268,692	193,906	260,907	2,821	-45,791
Operating charges`60/66A`	17.1m	-	-	-	-	-	-	-	-	-
Goods for resale, raw materials and consumables`60`	7.2m	-	-	-	-	-	-	-	-	-
Purchases`600/8`	9.6m	-	-	-	-	-	-	-	-	-
Change in stocks: decrease (increase)`609`	-2.4m	-	-	-	-	-	-	-	-	-
Services and other goods`61`	7.1m	-	-	-	-	-	-	-	-	-
Remuneration, social security and pensions`62`	2.0m	1.4m	942,182	665,851	394,855	111,741	96,491	63,102	45,241	30,943
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	93,158	64,482	34,485	29,259	16,467	2,461	3,060	3,016	3,083	2,897
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)`631/4`	244,077	275,802	-	-	-	-	-	-	-	-
Other operating charges`640/8`	72,864	9,569	11,491	72,466	79,275	3,165	4,824	2,377	4,469	2,816
Non-recurring operating charges`66A`	287,310	-	-	-	-	-	-	-	50	-
Operating profit (loss)`9901`	1.6m	2.0m	1.1m	275,486	165,456	151,326	89,531	192,412	-49,973	-82,446
Financial income`75/76B`	13,158	27,912	10,728	8	1,930	9,986	162	2,019	788	241
Recurring financial income`75`	13,158	27,912	10,728	8	1,930	9,986	162	2,019	788	211
Income from current assets`751`	0	-	-	-	-	-	-	-	-	-
Other financial income`752/9`	13,158	-	-	-	-	-	-	-	-	-
Non-recurring financial income`76B`	-	-	-	-	-	-	-	-	-	30
Financial charges`65/66B`	406,028	350,007	382,771	275,324	98,010	45,645	8,445	5,164	4,762	2,738
Recurring financial charges`65`	406,028	350,007	382,771	275,324	98,010	45,645	8,445	5,164	4,712	2,738
Debt charges`650`	45,973	-	-	-	-	-	-	-	-	-
Other financial charges`652/9`	360,055	-	-	-	-	-	-	-	-	-
Non-recurring financial charges`66B`	-	-	-	-	-	-	-	-	50	-
Profit (loss) for the period before taxes`9903`	1.2m	1.7m	745,253	170	69,376	115,667	81,248	189,267	-53,946	-84,943
Income taxes`67/77`	312,754	464,706	205,674	8,743	3,618	30,203	27,921	19,095	167	0
Taxes`670/3`	312,754	-	-	-	-	-	-	-	-	-
Profit (loss) for the period`9904`	870,614	1.2m	539,579	-8,572	65,759	85,463	53,327	170,172	-54,113	-84,943
Profit (loss) for the period to be appropriated`9905`	870,614	1.2m	539,579	-8,572	65,759	85,463	53,327	170,172	-54,113	-84,943
Appropriation of the result
Profit (loss) to be appropriated`9906`	2.3m	1.8m	590,329	225,232	233,804	168,046	82,582	31,116	-139,057	-84,943
Profit (loss) brought forward from the previous period`14P`	1.4m	590,329	50,750	233,804	168,046	-	-	-	-	-
Transfer to equity`691/2`	-	-	-	-	-	-	-	1,860	-	-
To the legal reserve`6920`	-	-	-	-	-	-	-	1,860	-	-
Profit to be distributed`694/7`	0	380,000	-	-	-	-	-	-	-	-
Return on contributions (dividend)`694`	0	380,000	-	-	-	-	-	-	-	-
Social balance sheet
Average staff (FTE)`9087`	25.2	25.2	35.4	13.9	8.7	3.5	2.7	2.3	1.6	0.8
Men (FTE)`1003`	17	-	-	-	-	-	-	-	-	-
Women (FTE)`1003`	8.2	-	-	-	-	-	-	-	-	-
Hours worked`1013`	43,106	43,106	36,529	24,672	17,946	5,624	5,389	4,184	3,142	1,639
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Financial year	Type	Filed	Reference	Document
31-12-2025	full format	28-09-2026	2026-00531840	PDF
31-12-2024	abbreviated format	31-10-2025	2025-00561433	PDF
31-12-2023	abbreviated format	21-10-2024	2024-00513669	PDF
31-12-2022	abbreviated format	31-08-2023	2023-00424904	PDF
31-12-2021	abbreviated format	30-08-2022	2022-20406121	PDF
31-12-2020	abbreviated format	30-07-2021	2021-43700182	PDF
31-12-2019	abbreviated format	28-08-2020	2020-47500532	PDF
31-12-2018	abbreviated format	23-08-2019	2019-50300080	PDF
31-12-2017	abbreviated format	31-07-2018	2018-42300102	PDF
31-12-2016	abbreviated format	30-06-2017	2017-24400423	PDF

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EBITDA	1.7m	2.1m	1.2m	304,745	181,923	153,787	92,591	195,428	-46,890	-79,549
Cash flow	963,772	1.3m	574,064	20,687	82,225	87,924	56,387	173,189	-51,031	-82,046
Investment in fixed assets	147,846	488,547	45,681	48,584	236,742	15,500	1,130	1,950	1,959	22,618
Change in cash	-613,018	372,285	-288,910	870,744	-13,715	63,149	-20,226	68,243	12,075	-
Working capital	2.1m	1.5m	1.2m	295,404	321,932	351,902	279,394	226,719	90,469	15,336
EBIT margin	8.5%	-	-	-	-	-	-	-	-	-
Solvency	30.5%	25.0%	14.7%	8.8%	18.4%	25.5%	21.4%	12.0%	-70.8%	-82.7%
Current ratio	1.39	1.33	1.32	1.13	1.40	1.98	2.48	2.32	2.48	1.34
Quick ratio	0.34	0.53	0.62	0.66	1.07	0.62	1.75	1.93	1.21	0.65
Debt to equity	2.27	3.01	5.79	10.32	4.44	2.92	3.68	7.36	-	-
ROE	35.0%	74.9%	68.7%	-3.5%	25.9%	45.3%	51.8%	342.3%	-	-
ROA	10.7%	18.7%	10.1%	-0.3%	4.8%	11.6%	11.1%	40.9%	-31.8%	-105.9%
Interest coverage	36.31	5.90	3.01	1.11	1.86	-	-	-	-	-
Customer credit	18 days	-	-	-	-	-	-	-	-	-
Supplier credit	66 days	-	-	-	-	-	-	-	-	-

By activity	2024	2025
Verkopen andere winkels - B2B	€2,274,429	€9,689,580
Verkopen Online	€989,117	€5,147,438
Verkopen winkel	€0	€4,123,916
Total	€3,263,546	€18,960,934

Item	31-12-2025	31-12-2024	31-12-2023	31-12-2022	31-12-2021
Employees at the balance-sheet date	28	28	27	25	16
full-time	20	20	16	10	5
part-time	8	8	11	15	11
in full-time equivalents	25.5	25.5	23	18.6	11.5
Average over the year, in full-time equivalents	25.2	25.2	21.8	13.9	8.7
On a permanent contract	25	25	20	12	11
Joined	22	22	55	30	16
Left	21	21	45	21	7

Arternative

Annual accounts 2025

Money flows

Balance sheet

Change in equityin €m

Change in cashin €m

Position in the sector

Solvency30.5%

Current ratio1.39

Return on assets10.7%

Staff

Men and women33% women

Staff cost per FTE€80,390

Joined and left+1

Filed annual accounts

Filings

Key figures and ratios

Revenue breakdown

By activity 2025

Social balance sheet

Investments

Insights on Arternative

Next steps

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€147,846	€488,547	€33,431	€48,584	€200,742
Financial fixed assets	-	-	€12,250	-	€36,000
Depreciation and write-downs of the year	€93,158	€64,482	€34,485	€29,259	€16,467