Artes Projects
ActiveSummary
Artes Projects has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €620,781 and a net result of €20,541. Equity remains stable across the filed fiscal years (±1.7% per year). Its solvency ranks better than 95% of 842 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability46▲+6
Solvency100▲+4
Growth35=
Track record100
Bankruptcy probability, 12 months
0.5%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40,000 at 30 days acceptable
short-term debt: 0.5% and cash: 0.9% of total assets, and 0.6% 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.
−lowers risk+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 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
99.4%
Return on assets
3.3%
Age of the figures
9 mo
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
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 30-06-2026, 31 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
31 d early
2024
23 d early
2023
44 d early
2022
32 d early
2021
32 d early
2020
31 d early
2019
42 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 34 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% 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
27-09-2026 today31-12-2026 close31-07-2027 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 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 Which other companies belong to the same group?Windhoek · 19 companies
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, full schema
Turnover
€71,925▲ 1,051%
2022 · €6,250
EBIT margin
-6.8%▼ 22.8pp
2022 · 16.0%
Net result
€20,541▲ 107%
2024 · €9,919
Working capital
€621,210▲ 3.5%
2024 · €600,308
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, 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€3.2m▲ 33.4%€6,250▼ 99.8%€71,925
Operating result€24,269▲ 49.6%€998▼ 95.9%-€7,474-€4,900▲ 34.4%€18,491
Net result€17,188within the sector's middle half▲ 55.6%-€924below the sector's middle half€1,884within the sector's middle half€9,919within the sector's middle half▲ 427%€20,541within the sector's middle half▲ 107%
EBIT margin0.8%▲ 0.1pp16.0%▲ 15.2pp-6.8%
Equity€589,362within the sector's middle half▲ 3.0%€588,438within the sector's middle half▼ 0.2%€590,322within the sector's middle half▲ 0.3%€600,241within the sector's middle half▲ 1.7%€620,781within the sector's middle half▲ 3.4%
Total assets€1.8mwithin the sector's middle half▲ 25.6%€722,498within the sector's middle half▼ 59.3%€700,979within the sector's middle half▼ 3.0%€844,095within the sector's middle half▲ 20.4%€624,615within the sector's middle half▼ 26.0%
Debt€1.2m▲ 40.9%€134,061▼ 88.7%€110,658▼ 17.5%€243,854▲ 120%€3,834▼ 98.4%
Working capital€589,348▲ 3.0%€588,401▼ 0.2%€590,435▲ 0.3%€600,308▲ 1.7%€621,210▲ 3.5%
Solvency33.2%within the sector's middle half▼ 7.3pp81.4%above the sector's middle half▲ 48.3pp84.2%above the sector's middle half▲ 2.8pp71.1%above the sector's middle half▼ 13.1pp99.4%above the sector's middle half▲ 28.3pp
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €18,491 after a loss of €4,900 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €624,615
Fixed assets
€37 =
Current assets
€624,578 ▼ 26.0%
Equity and liabilities €624,615
Equity
€620,781 ▲ 3.4%
Debt
€3,834 ▼ 98.4%
Debt's share of the balance-sheet total falls from 28.9% to 0.6%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
0.01▼
2024 · 0.41
ROE
3.3%▲
2024 · 1.7%
ROA
3.3%▲
2024 · 1.2%
Debt ≤ 1 year
€3,368▼
2024 · €243,749
Income taxes
€7,015▲
2024 · €1,338
A ratio outside any meaningful range has been withheld (balance sheet total €624,615, equity €620,781).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,040 companies that looked in July 2024 the way this one looks now, 0.3% 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
0.3%
went bankrupt
3.6%
stopped otherwise
96%
still going
A further 0.1% 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 497,058 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% | 1.6% |
| 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 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 6,040 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 |
|---|---|---|---|---|---|---|
| Operating income70/76A | €3.2m | €6,250 | - | €71,925 | €23,932 | ▼ 66.7% |
| Turnover70 | €3.2m | €6,250 | - | €71,925 | - | - |
| Non-recurring operating income76A | - | - | - | - | €23,932 | - |
| Operating charges60/66A | €3.2m | €5,252 | €7,474 | €76,825 | €5,440 | ▼ 92.9% |
| Goods for resale, raw materials and consumables60 | €3.2m | - | - | €71,925 | - | - |
| Purchases600/8 | €3.2m | - | - | €71,925 | - | - |
| Services and other goods61 | €9,448 | €5,080 | €7,199 | €4,570 | €5,186 | ▲ 13.5% |
| Other operating charges640/8 | €531 | €172 | €275 | €330 | €254 | ▼ 23.0% |
| Operating profit (loss)9901 | €24,269 | €998 | -€7,474 | -€4,900 | €18,491 | ▲ 477% |
| Financial income75/76B | - | - | €11,002 | €17,178 | €9,766 | ▼ 43.1% |
| Recurring financial income75 | - | - | €11,002 | €17,178 | €9,766 | ▼ 43.1% |
| Income from current assets751 | - | - | €11,002 | €17,178 | €9,766 | ▼ 43.1% |
| Financial charges65/66B | €880 | €1,922 | €1,016 | €1,021 | €701 | ▼ 31.3% |
| Recurring financial charges65 | €880 | €1,922 | €1,016 | €1,021 | €701 | ▼ 31.3% |
| Other financial charges652/9 | €880 | €1,922 | €1,016 | €1,021 | €701 | ▼ 31.3% |
| Profit (loss) for the period before taxes9903 | €23,389 | -€924 | €2,512 | €11,257 | €27,556 | ▲ 145% |
| Income taxes67/77 | €6,200 | - | €628 | €1,338 | €7,015 | ▲ 424% |
| Taxes670/3 | €6,918 | - | €628 | €2,814 | €7,065 | ▲ 151% |
| Tax adjustments and reversals of tax provisions77 | €718 | - | - | €1,476 | €50 | ▼ 96.6% |
| Profit (loss) for the period9904 | €17,188 | -€924 | €1,884 | €9,919 | €20,541 | ▲ 107% |
| Profit (loss) for the period to be appropriated9905 | €17,188 | -€924 | €1,884 | €9,919 | €20,541 | ▲ 107% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.8m | €722,498 | €700,979 | €844,095 | €624,615 | ▼ 26.0% |
| Fixed assets21/28 | €37 | €37 | €37 | €37 | €37 | = |
| Intangible fixed assets21 | - | - | €0 | €0 | €0 | - |
| Tangible fixed assets22/27 | - | - | €0 | €0 | €0 | - |
| Furniture and vehicles24 | - | - | €0 | €0 | €0 | - |
| Financial fixed assets28 | €37 | €37 | €37 | €37 | €37 | = |
| Affiliated companies280/1 | €30 | €30 | €30 | €30 | €30 | = |
| Participating interests280 | €30 | €30 | €30 | €30 | €30 | = |
| Amounts receivable281 | - | - | - | - | €0 | - |
| Other financial fixed assets284/8 | €7 | €7 | €7 | €7 | €7 | = |
| Amounts receivable and cash guarantees285/8 | €7 | €7 | €7 | €7 | €7 | = |
| Current assets29/58 | €1.8m | €722,461 | €700,942 | €844,058 | €624,578 | ▼ 26.0% |
| Amounts receivable within one year40/41 | €1.0m | €197,622 | €112,732 | €175,069 | €8,585 | ▼ 95.1% |
| Trade receivables40 | €801,622 | €14,411 | €6,849 | €159,196 | €163 | ▼ 99.9% |
| Other amounts receivable41 | €198,919 | €183,210 | €105,883 | €15,873 | €8,422 | ▼ 46.9% |
| Current investments50/53 | - | - | €450,000 | €585,000 | €610,000 | ▲ 4.3% |
| Other investments51/53 | - | - | €450,000 | €585,000 | €610,000 | ▲ 4.3% |
| Cash at bank and in hand54/58 | €775,862 | €524,840 | €137,708 | €83,639 | €5,800 | ▼ 93.1% |
| Deferred charges and accrued income490/1 | - | - | €502 | €349 | €193 | ▼ 44.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.8m | €722,498 | €700,979 | €844,095 | €624,615 | ▼ 26.0% |
| Equity10/15 | €589,362 | €588,438 | €590,322 | €600,241 | €620,781 | ▲ 3.4% |
| Contributions10/11 | €200,000 | €200,000 | €200,000 | €200,000 | €200,000 | = |
| Capital10 | €200,000 | €200,000 | €200,000 | €200,000 | €200,000 | = |
| Issued capital100 | €600,000 | €600,000 | €600,000 | €600,000 | €600,000 | = |
| Uncalled capital101 | €400,000 | €400,000 | €400,000 | €400,000 | €400,000 | = |
| Reserves13 | €60,000 | €60,000 | €60,000 | €60,000 | €60,000 | = |
| Non-distributable reserves130/1 | €60,000 | €60,000 | €60,000 | €60,000 | €60,000 | = |
| Legal reserve130 | €60,000 | €60,000 | €60,000 | €60,000 | €60,000 | = |
| Profit (loss) carried forward14 | €329,362 | €328,438 | €330,322 | €340,241 | €360,781 | ▲ 6.0% |
| Amounts payable17/49 | €1.2m | €134,061 | €110,658 | €243,854 | €3,834 | ▼ 98.4% |
| Amounts payable within one year42/48 | €1.2m | €134,061 | €110,507 | €243,749 | €3,368 | ▼ 98.6% |
| Trade debts44 | €1.2m | €134,061 | €110,507 | €236,041 | €3,368 | ▼ 98.6% |
| Suppliers440/4 | €1.2m | €134,061 | €110,507 | €236,041 | €3,368 | ▼ 98.6% |
| Taxes, remuneration and social security45 | €1,348 | - | €0 | €7,709 | - | - |
| Taxes450/3 | €1,348 | - | €0 | €7,709 | - | - |
| Other amounts payable47/48 | €12,892 | - | - | - | - | - |
| Accrued charges and deferred income492/3 | €23 | - | €151 | €105 | €466 | ▲ 345% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,188 | -€924 | €1,884 | €9,919 | €20,541 | ▲ 107% |
| Operating cash flow (approximation) | €17,188 | -€924 | €1,884 | €9,919 | €20,541 | ▲ 107% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€251,022 | -€387,131 | -€54,069 | -€77,840 | ▼ 44.0% |
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
30-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Liquidity times 54current ratio 185.44
Current ratio from 3.46 to 185.44; short-term debt falls from €243,749 to €3,368.
08-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
17-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
31-12
Financial
Back to profitnet €1,884
Net result €1,884 after one loss-making year.
29-06
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Weakest financial yearnet -€924
Net result drops to -€924, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity quadruplescurrent ratio 5.39
Current ratio from 1.50 to 5.39; short-term debt falls from €1.2m to €134,061.
29-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
19-06
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
28-06
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
15-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
20-06
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.
0 of 23 acts read
About the unread acts
We know of 23 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
23 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, Brugge · 1 establishment unit since 2007
Ground area
1.2 ha
Building footprint
1,892 m²
Volume, LiDAR
4,421 m³
Parcel 31812V0011/00L000, Flanders · tallest building 14.0 m. Linked by address, not a title deed.
44
companies at this address
See who is registered here
1 establishment unit
Artes Projects NV
since 20072.159.891.080
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31812V0011/00L000 | Flanders | 1.2 ha | 1 · 1,892 m² | 14.0 m |
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.
Structure & network
Part of the group
Windhoek
19 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- Windhoek
- ARTES GROUP
- Artes Projects
Highest known parent: Windhoek. The sources do not say who stands above it.
Owners 1
- ARTES GROUPparent100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 29,787 companies in sector 41001 we hold annual accounts for 16,052. 8,370 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
Founded05-02-2007
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
68121Development of residential building projects
E-invoicing
Reachable via Peppol
Peppol ID
0208:0886984430
Also
9925:BE0886984430
Registered
08-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.