ARTHEUS
ActiveSummary
ARTHEUS has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €82,228 and a net result of €17,016. Equity is growing by ~43.4% per year across the filed fiscal years. Its solvency ranks better than 27% of 3505 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability74▼-12
Solvency46▼-18
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,500 at 30 days acceptable
Liquidity tight (current ratio 1.21 against 1.88 in 2024; short-term debt: 67.1% and cash: 3.6% of total assets), and 79.1% 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 · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 74
Relative position
BE, all sectors
reference
Other professional, scientific and technical activities (NACE 74)
about 48% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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
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
20.9%
Return on assets
4.3%
Age of the figures
15 mo
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 26-02-2026, 26 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
26 d late
2024
28 d late
2023
28 d late
2022
27 d late
2021
25 d late
2020
26 d late
2019
27 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 27 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 38% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close27-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€82,228▲ 9.3%
2024 · €75,211
Total assets
€394,143▲ 107%
2024 · €190,739
Net result
€17,016▼ 34.8%
2024 · €26,090
Working capital
€56,213▲ 9.6%
2024 · €51,299
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 74, Other professional, scientific and technical activities, 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€25,096▼ 38.0%€20,644▼ 17.7%€25,985▲ 25.9%€44,220▲ 70.2%€31,037▼ 29.8%
Net result€12,239within the sector's middle half▼ 60.2%€10,782within the sector's middle half▼ 11.9%€14,733within the sector's middle half▲ 36.7%€26,090within the sector's middle half▲ 77.1%€17,016within the sector's middle half▼ 34.8%
Equity€23,606within the sector's middle half▲ 108%€34,388within the sector's middle half▲ 45.7%€49,121within the sector's middle half▲ 42.8%€75,211within the sector's middle half▲ 53.1%€82,228within the sector's middle half▲ 9.3%
Total assets€200,636within the sector's middle half▼ 8.9%€201,747within the sector's middle half▲ 0.6%€177,884within the sector's middle half▼ 11.8%€190,739within the sector's middle half▲ 7.2%€394,143above the sector's middle half▲ 107%
Debt€177,030▼ 15.2%€167,359▼ 5.5%€128,763▼ 23.1%€115,528▼ 10.3%€311,915▲ 170%
Working capital€30,421▲ 14.5%€20,727▼ 31.9%€38,381▲ 85.2%€51,299▲ 33.7%€56,213▲ 9.6%
Solvency11.8%below the sector's middle half▲ 6.6pp17.0%within the sector's middle half▲ 5.3pp27.6%within the sector's middle half▲ 10.6pp39.4%within the sector's middle half▲ 11.8pp20.9%within the sector's middle half▼ 18.6pp
Staff (FTE)0.8▼ 11.1%0.5▼ 37.5%1▲ 100%1.2
above
within
below
the middle half (P25 to P75) of NACE 74, Other professional, scientific and technical activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 30% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €394,143
Fixed assets
€73,585 ▼ 9.5%
Current assets
€320,558 ▲ 193%
Equity and liabilities €394,143
Equity
€82,228 ▲ 9.3%
Debt
€311,915 ▲ 170%
Debt's share of the balance-sheet total rises from 60.6% to 79.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€54,822▼
2024 · €77,091
Cash flow
€40,801▼
2024 · €58,961
Current ratio
1.21▼
2024 · 1.88
Quick ratio
1.21▼
2024 · 1.85
Debt to equity
3.79▲
2024 · 1.54
ROE
20.7%▼
2024 · 34.7%
ROA
4.3%▼
2024 · 13.7%
Interest coverage
11.71▼
2024 · 16.73
Debt ≤ 1 year
€264,345▲
2024 · €58,133
Debt > 1 year
€47,570▼
2024 · €57,395
Income taxes
€9,493▼
2024 · €13,976
Staff costs
€22,695▼
2024 · €45,514
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 4,500 companies that looked in July 2024 the way this one looks now, 1.2% went bankrupt within 24 months and 97% are still going.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
1.2%
went bankrupt
1.6%
stopped otherwise
97%
still going
A further 0.4% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.4% 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 4,500 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €5,000 | - | - | - | - |
| Remuneration, social security and pensions62 | - | €18,531 | €33,811 | €45,514 | €22,695 | ▼ 50.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €30,420 | €28,486 | €32,036 | €32,871 | €23,785 | ▼ 27.6% |
| Other operating charges640/8 | - | €2,460 | €2,245 | €2,156 | €4,218 | ▲ 95.7% |
| Gross operating margin9900 | €83,506 | €70,120 | €94,077 | €124,761 | €81,735 | ▼ 34.5% |
| Operating profit (loss)9901 | €25,096 | €20,644 | €25,985 | €44,220 | €31,037 | ▼ 29.8% |
| Financial income75/76B | - | €283 | €30 | €453 | €152 | ▼ 66.3% |
| Recurring financial income75 | €66 | €283 | €30 | €453 | €152 | ▼ 66.3% |
| Financial charges65/66B | - | €6,794 | €5,658 | €4,607 | €4,680 | ▲ 1.6% |
| Recurring financial charges65 | €7,139 | €6,794 | €5,658 | €4,607 | €4,680 | ▲ 1.6% |
| Profit (loss) for the period before taxes9903 | €18,023 | €14,133 | €20,357 | €40,066 | €26,509 | ▼ 33.8% |
| Income taxes67/77 | €5,785 | €3,351 | €5,624 | €13,976 | €9,493 | ▼ 32.1% |
| Profit (loss) for the period9904 | €12,239 | €10,782 | €14,733 | €26,090 | €17,016 | ▼ 34.8% |
| Profit (loss) for the period to be appropriated9905 | €12,239 | €10,782 | €14,733 | €26,090 | €17,016 | ▼ 34.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €200,636 | €201,747 | €177,884 | €190,739 | €394,143 | ▲ 107% |
| Fixed assets21/28 | €128,673 | €124,009 | €95,070 | €81,307 | €73,585 | ▼ 9.5% |
| Tangible fixed assets22/27 | €128,473 | €123,809 | €94,870 | €81,107 | €73,385 | ▼ 9.5% |
| Land and buildings22 | - | €62,323 | €52,573 | €51,873 | €41,136 | ▼ 20.7% |
| Plant, machinery and equipment23 | - | €53,184 | €34,988 | €22,889 | €19,236 | ▼ 16.0% |
| Furniture and vehicles24 | - | €8,302 | €7,309 | €6,346 | €13,013 | ▲ 105% |
| Financial fixed assets28 | €200 | €200 | €200 | €200 | €200 | = |
| Current assets29/58 | €71,962 | €77,738 | €82,814 | €109,432 | €320,558 | ▲ 193% |
| Stocks and contracts in progress3 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Stocks30/36 | - | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Amounts receivable within one year40/41 | €59,165 | €46,624 | €55,436 | €77,513 | €106,845 | ▲ 37.8% |
| Trade receivables40 | - | €44,185 | €50,928 | €60,922 | €42,095 | ▼ 30.9% |
| Other amounts receivable41 | - | €2,439 | €4,508 | €16,591 | €64,750 | ▲ 290% |
| Cash at bank and in hand54/58 | €10,797 | €28,016 | €22,787 | €28,566 | €14,097 | ▼ 50.7% |
| Deferred charges and accrued income490/1 | - | €1,098 | €2,591 | €1,352 | €197,616 | ▲ 14,512% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €200,636 | €201,747 | €177,884 | €190,739 | €394,143 | ▲ 107% |
| Equity10/15 | €23,606 | €34,388 | €49,121 | €75,211 | €82,228 | ▲ 9.3% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €26,744 | €36,744 | €50,744 | €76,744 | €83,244 | ▲ 8.5% |
| Tax-exempt reserves132 | - | €1,744 | €1,744 | €1,744 | €1,744 | = |
| Distributable reserves133 | - | €35,000 | €49,000 | €75,000 | €81,500 | ▲ 8.7% |
| Profit (loss) carried forward14 | -€9,338 | -€8,556 | -€7,823 | -€7,733 | -€7,217 | ▲ 6.7% |
| Amounts payable17/49 | €177,030 | €167,359 | €128,763 | €115,528 | €311,915 | ▲ 170% |
| Amounts payable after more than one year17 | €135,488 | €110,348 | €84,331 | €57,395 | €47,570 | ▼ 17.1% |
| Financial debts170/4 | - | €110,348 | €84,331 | €57,395 | €47,570 | ▼ 17.1% |
| Amounts payable within one year42/48 | €41,541 | €57,010 | €44,432 | €58,133 | €264,345 | ▲ 355% |
| Current portion of amounts payable after more than one year42 | - | €25,597 | €26,476 | €27,394 | €19,377 | ▼ 29.3% |
| Trade debts44 | €7,716 | €17,261 | €9,092 | €13,428 | €228,434 | ▲ 1,601% |
| Suppliers440/4 | - | €17,261 | €9,092 | €13,428 | €228,434 | ▲ 1,601% |
| Taxes, remuneration and social security45 | - | €8,151 | €8,865 | €17,310 | €6,535 | ▼ 62.2% |
| Taxes450/3 | - | €4,994 | €7,319 | €14,591 | €5,393 | ▼ 63.0% |
| Remuneration and social security454/9 | - | €3,157 | €1,545 | €2,719 | €1,141 | ▼ 58.0% |
| Other amounts payable47/48 | - | €6,001 | - | - | €10,000 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €12,239 | €10,782 | €14,733 | €26,090 | €17,016 | ▼ 34.8% |
| + Depreciation and write-downs630 | €30,420 | €28,486 | €32,036 | €32,871 | €23,785 | ▼ 27.6% |
| Operating cash flow (approximation) | €42,659 | €39,268 | €46,769 | €58,961 | €40,801 | ▼ 30.8% |
| Investment in fixed assets (approximation) | - | -€23,822 | -€3,097 | -€19,108 | -€16,062 | ▲ 15.9% |
| Change in cash | - | €17,219 | -€5,229 | €5,779 | -€14,469 | ▼ 350% |
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
26-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 26 days late
2025
28-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
28-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 28 days late
2023
27-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 27 days late
2022
25-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 25 days late
2021
26-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
30-06
Financial
Highest result since 2019net €30,750 ▲524%
Net result €30,750, the highest in the series.
27-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 27 days late
2019
27-02
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 27 days late
2018
27-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 27 days late
2017
24-02
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 24 days late
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, Frasnes-lez-Anvaing · 2 establishment units since 2008
Ground area
1.1 ha
Building footprint
1,604 m²
2 parcels, Wallonia. Linked by address, not a title deed.
2 establishment units
ATHEUS
since 20082.174.189.870
Laboratoire dentaire Artheus
since 20262.388.507.412
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 51022D0617/00A000 | Wallonia | 6,762 m² | 1 · 1,353 m² | - |
| 51022A0296/00K000 | Wallonia | 4,558 m² | 1 · 251 m² | - |
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 4,526 companies in sector 74301 we hold annual accounts for 720. 615 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded29-10-2008
Fiscal year end30-06
Activities, NACEBEL 2025
32500Manufacture of medical and dental instruments and supplies
74301Translation services
82100Office administrative and support services
82990Other business support services
85599Other education
86230Dental practice
E-invoicing
Reachable via Peppol
Peppol ID
0208:0807441757
Also
9925:BE0807441757
Registered
28-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.