Equity
€59,871 from €135,026 in 2019
Equity fell by 56% in 6 years.
ARTHEAS
Lifetime
16 annual accounts with figures on one time axispeak €69,535 (2014)
€7,283▼ 72.2%
lowest -€26,804 (2025)
-€26,804▼ €14,003
peak €135,026 (2019)
€59,871▼ 30.9%
€289,812▲ 1.2%
Board2 names since 2021
2 directorsBLANPAIN François-Xavier and 1 other
Documentsfilings and deeds
18-06-202643 days before the deadline
2025micro format
Gross margin from €26,187 to €7,283Loss of €26,804Equity from €86,675 to €59,871
Key points
from the 2025 annual accountsLosses
-€39,605 in two years
The 2024 and 2025 financial years closed with a loss. 2025 was the heaviest.
Turnover
≈ €34,000 estimated
The micro format states no turnover.
Debts
€289,812 83% of the balance sheet
Financial debts 60%Suppliers 3%Taxes and wages 5%Other 32%
Of this, €121,624 falls due within a year.
Filings
16 annual accounts since 2010
Eight of the last ten came late. The 2020 accounts came latest: 61 days after the end of the period.
Position in the sector
-€26,804
Lower net result than 94% of companies in head offices and management consultancy. Sector median €27,132 · 39,384 companies.
Checked score
80
Excellent
Financially stronger than 28% of micro companies in head offices and management consultancy (NACE 70)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.4% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 48,570 companies (NACE 70, micro).
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.6%
01-2025: 0.6%● unchanged vs 12-2024
02-2025: 0.6%● unchanged vs 01-2025
03-2025: 0.7%▲ +0.1 percentage points vs 02-2025
04-2025: 0.6%▼ -0.1 percentage points vs 03-2025
05-2025: 0.6%● unchanged vs 04-2025
06-2025: 0.6%● unchanged vs 05-2025
07-2025: 0.7%▲ +0.1 percentage points vs 06-2025
08-2025: 1.0%▲ +0.3 percentage points vs 07-2025highest value
09-2025: 0.7%▼ -0.3 percentage points vs 08-2025
10-2025: 0.7%● unchanged vs 09-2025
11-2025: 0.7%● unchanged vs 10-2025
12-2025: 0.7%● unchanged vs 11-2025
01-2026: 0.7%● unchanged vs 12-2025
02-2026: 0.7%● unchanged vs 01-2026
03-2026: 0.7%● unchanged vs 02-2026
04-2026: 0.7%● unchanged vs 03-2026
05-2026: 0.7%● unchanged vs 04-2026
06-2026: 0.7%● unchanged vs 05-2026
07-2026: 0.4%▼ -0.3 percentage points vs 06-2026lowest value
08-2026: 0.4%● unchanged vs 07-2026lowest value
09-2026: 0.4%● unchanged vs 08-2026lowest value
10-2026: 0.4%● unchanged vs 09-2026lowest value
11-2026: 0.4%● unchanged vs 10-2026lowest value
Financial strengthWeak
Score breakdown
raises risk
Liquidity: current ratio 0.00
Loss of €26,804, the second in a row (financial year 2025)
lowers risk
Size: total assets €349,683
Sector: Activities of head offices; management consultancy activities (NACE 70)
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 22% of them on solvency, 61% on liquidity, 12% on profitability and 18% on growth.
The bankruptcy probability was computed on 09-11-2026 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, 2,166 companies had the same profile as ARTHEAS has now. Each dot stands for 6 companies, two years later.
94.1%
were still trading
3.0%
stopped another way
2.5%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of ARTHEAS itself is lower: 0.4% within 12 months. It rests on far more data about ARTHEAS than the profile alone.
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 2,166 companies, not a prediction for ARTHEAS. 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 €4,500 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.0 (0.04 in 2024), below 1. Short-term debt is 34.8% of total assets. 82.9% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Seven signals.
lowers riskraises riskneutral
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 -€26,804
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 21% of 39368 sector peers (2025).
NBB · sector comparisonPosition among 39368 sector peers
Solvency
better than 21%
← weakest
strongest →
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 18-06-2026, 43 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
43 days early
2024
18 days late
2023
30 days late
2022
51 days late
2021
32 days early
2020
61 days late
2019
38 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 18 days after 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 18 August (4 of the last 5 accounts filed within 50 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0824466049
Change of role: BLANPAIN François-Xavier, from manager to director
Appointment: DEKEYSER Bénédicte (director) · Legal-form conversion: from private limited company (pre-2019) to private limited company · Director discharge: BLANPAIN François-Xavier (manager) · General meeting of 08-12-2023 · Gazette deed
First establishment
Rue du Moulin à Vent 2, Pont-à-Celles
Incorporation
published on 12-04-2010 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| ARTHEAS Pont-à-Celles | €349,683 | €7,283 | 17.1% | - |
| V-MANAGEMENT Fleurus | €334,466 | €6,503 | 82.2% | - |
| Vento Et Aqua Arendonk | €371,264 | €7,384 | 90.0% | - |
| Nec+ Ultra Ixelles | €355,786 | €7,006 | -17.1% | - |
| DDV Bree | €332,041 | €7,538 | 10.3% | - |
| JD CONSULTANCY Kortrijk | €310,788 | €6,613 | 82.2% | - |
| DEMOGEST Woluwe-Saint-Lambert | €324,240 | €8,198 | 59.6% | - |
These companies have the same main activity as ARTHEAS: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €311,000 and €371,000, founded between 2008 and 2011.
Official details
Source: KBO- Status
- Active since 30-03-2010Normal situation
- Activity
- Business and other management consultancyNACE 70200
- Establishment unit
- 2.203.090.5266230 Pont-à-Celles, since 30-03-2011
- Financial year end
- 31 December
- Peppol
- Reachable since 23-02-2026
Annual accounts 2025
- €349,683▼ 6.3%
- Filing
- Filed on 18-06-2026, 43 days before the end of the filing period
Insights on ARTHEAS
ARTHEAS files the micro format. That format states no turnover. The gross margin rose from €1,892 in 2010 to €7,283 in 2025.
The balance sheet grew most from 2012 to 2014 through fixed assets.
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 ARTHEAS
- What is the company number of ARTHEAS?
- The company number of ARTHEAS is 0824.466.049. The VAT number is the same number with BE in front: BE 0824.466.049.
- Where is ARTHEAS based?
- The registered office is at Rue du Moulin à Vent 2, 6230 Pont-à-Celles.Company details
- What does ARTHEAS do?
- According to the KBO register, the main activity is business and other management consultancy (NACE 70200).
- What is the legal form of ARTHEAS?
- ARTHEAS is a private limited company (BV).
- When was ARTHEAS founded?
- ARTHEAS was founded on 30-03-2010.
- Is ARTHEAS still active?
- Yes, ARTHEAS is an active enterprise in the KBO register.
- What is the turnover of ARTHEAS?
- The turnover in financial year 2025 is ≈ €34,000. This figure is estimated from the gross margin of €7,283 and 206 comparable companies (NACE 70200). It probably lies between €16,000 and €68,000. It is a rough estimate.Financials
- Is ARTHEAS profitable?
- In financial year 2025, ARTHEAS made a loss of €26,804.
- Where can I find the annual accounts of ARTHEAS?
- ARTHEAS filed 16 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of ARTHEAS due?
- ARTHEAS must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
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