Equity
€70.5m ▲ 193%
ARTES GROUP has made a profit in every financial year since 2006.
ARTES GROUP
Lifetime
20 annual accounts with figures on one time axis, 45 filings since 1981peak €98.8m (2021)
€85.8m▲ 64.0%
peak €62.6m (2021)
€59.1m▲ 282%
peak €70.5m (2025)
€70.5m▲ 193%
€15.2m▼ 46.0%
peak 6 FTE (2023)
5.9 FTE▲ 20.4%
Board5 names since 2019
3 directorsHOORNAERT, Robert and 2 others
Owners5 names in the annual accounts
80%Windhoek and 1 other
Documentsfilings and deeds
07-07-202624 days before the deadline
2025financial year
Result from €15.5m to €59.1mStaff from 4.9 FTE to 5.9 FTEAppointment: Grant Thornton Bedrijfsrevisoren (statutory audi… 27-11Dividend €12.6mEquity from €24.0m to €70.5mDebts from €28.2m to €15.2m
Key points
from the 2025 annual accountsResult
€59.1m ▲ 282%
The result rose in 2025 from €15.5m to €59.1m.
Payment terms
201 days to suppliers
ARTES GROUP pays its suppliers 57 days earlier than in 2024. Customers pay 65 days earlier.
Liquidity
3.33 was 0.59 in 2024
Short-term debts fell from €27.9m to €15.1m.
At the same address
36 companies
Position in the sector
€59.1m
Higher net result than 95% of companies in head offices and management consultancy. Sector median €53,814 · 3,872 companies.
Standalone figures, without subsidiaries
Group, consolidated 2025: turnover €499.0m, result €30.1m
Checked score
94
Excellent
Financially stronger than 50% of micro companies in head offices and management consultancy (NACE 70)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 48,568 companies (NACE 70, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.2%▲ +0.1 percentage points vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.2%● unchanged vs 06-2025highest value
08-2025: 0.1%▼ -0.1 percentage points vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026
08-2026: 0.1%● unchanged vs 07-2026lowest value
09-2026: 0.1%● unchanged vs 08-2026lowest value
10-2026: 0.1%● unchanged vs 09-2026lowest value
11-2026: 0.1%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
raises risk
Liquidity: current ratio 3.33, cash €74,092, halved
lowers risk
Size: turnover €4.4m, 5.9 FTE, total assets €85.8m, files consolidated accounts
Founded in 1981
Equity €70.5m (82.2% of total assets)
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 70, micro). It does better than 86% of them on solvency, 25% on liquidity, 22% on profitability and 66% on growth.
The bankruptcy probability was computed on 07-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 31,368 companies had the same profile as ARTES GROUP has now. Each dot stands for 79 companies, two years later.
93.5%
were still trading
5.9%
stopped another way
0.5%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ARTES GROUP itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 31,368 companies, not a prediction for ARTES GROUP. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €430,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 3.33 (0.59 in 2024), above the usual 1.5. Short-term debt is 17.6% and cash 0.1% of total assets. 17.8% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Five signals.
lowers riskraises riskneutral
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 07-07-2026, 24 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
24 days early
2024
23 days early
2023
44 days early
2022
32 days early
2021
32 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 5 accounts on average 31 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 29 June (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
08-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- Windhoek 80%score 96equity €90.1m (2025) · 30-06-2025 annual accounts of Windhoek
- PACT 14 14%equity €9.6m (2025) · 30-06-2025 annual accounts of PACT 14
Shares in 17 companies, including A10 and AELTERMAN CONTRACTING & ENGINEERING
Board & ownershipRecent changes
3 directors reappointed
Robert HOORNAERT (managing director), Matthias HOORNAERT and WINDHOEK · Permanent representative: G. Van Ooteghem · General meeting of 03-06-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0421570314
Appointment: Grant Thornton Bedrijfsrevisoren (statutory auditor)
Permanent representative: Ria Verheyen · General meeting of 18-06-2025 · Gazette deed
Amendment of the articles
Capital of €62,500, 42,000 shares · General meeting of 26-10-2023 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| ARTES GROUP Beveren-Kruibeke-Zwijndrecht | €4.4m | -0.8% | 82.2% | 5.9 |
| IPLAST HOLDING Waregem | €2.6m | 7.4% | 99.2% | 4 |
| ARGAYON Braine-le-Château | €1.9m | - | 53.0% | 4.8 |
| K FINANCE COORDINATION & SERVICES Ixelles | €2.0m | -14.2% | 77.9% | 5 |
| TELIFRA Wervik | €3.9m | 11.0% | 98.7% | 10 |
| FIJA Waregem | €3.5m | 31.9% | 34.7% | 4.8 |
| EMANDENDI Schilde | €2.4m | 14.7% | 77.5% | 7.5 |
Grey: the largest companies of the sector (head offices and management consultancy (NACE 70)), without their names. Blue: the sector peers from the table.
These companies have the same main activity as ARTES GROUP: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €38m and €134m, founded between 1987 and 1998.
Official details
Source: KBO- Status
- Active since 15-04-1981Normal situation
- Registered office
- 37 active companies are registered at this address1 started in the 12 months before. Source: KBO register, as of 8 November 2026.
- Activity
- Business and other management consultancyNACE 70200and 6 others
- Joint committee
- 200Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment unit
- 2.018.836.2549150 Beveren-Kruibeke-Zwijndrecht, since 01-06-1981
- Financial year end
- 31 December
- Peppol
- Reachable since 08-12-2025
Annual accounts 2025
- €85.8m▲ 64.0%
- Employeeson 31-12-2025
- 6▲ 20.0%
- Filing
- Filed on 07-07-2026, 24 days before the end of the filing period
Companies linked to ARTES GROUP
Subsidiaries and holdings
- Artes Depret100%
- ARTES ENERGIES100%
- Artes Prefab100%
- Artes Projects100%
- Artes Roegiers100%
- Artes TWT100%
- Artes Uptech100%
- Artes Woudenberg100%
Insights on ARTES GROUP
ARTES GROUP has existed since 1981. The balance sheet total fell from €33.1m in 2009 to €11.6m in 2010, while staff rose from 1 to 1.3 full-time equivalents.
Solvency rose in 2025 from 46.0% to 82.2% because of the retained profit and lower debts.
Windhoek holds 80% of the shares. In August 2026, the Official Gazette published the appointment of HOORNAERT, Robert as managing director.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about ARTES GROUP
- What is the company number of ARTES GROUP?
- The company number of ARTES GROUP is 0421.570.314. The VAT number is the same number with BE in front: BE 0421.570.314.
- Where is ARTES GROUP based?
- The registered office is at Burchtstraat 89, 9150 Beveren-Kruibeke-Zwijndrecht.Company details
- What does ARTES GROUP do?
- According to the KBO register, the main activity is business and other management consultancy (NACE 70200).
- What is the legal form of ARTES GROUP?
- ARTES GROUP is a public limited company (NV).
- When was ARTES GROUP founded?
- ARTES GROUP was founded on 15-04-1981.
- Is ARTES GROUP still active?
- Yes, ARTES GROUP is an active enterprise in the KBO register.
- How many employees does ARTES GROUP have?
- ARTES GROUP had an average of 5.9 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does ARTES GROUP fall under?
- In its 2025 annual accounts, ARTES GROUP states joint committee 200 (Auxiliary committee for white-collar workers).
- What is the turnover of ARTES GROUP?
- The turnover of ARTES GROUP was €4.4m in financial year 2025, according to the filed annual accounts.
- Is ARTES GROUP profitable?
- In financial year 2025, ARTES GROUP made a profit of €59.1m.
- Where can I find the annual accounts of ARTES GROUP?
- ARTES GROUP filed 75 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of ARTES GROUP due?
- ARTES GROUP must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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