ARTHOPA
ActiveSummary
ARTHOPA has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €226,884 and a net result of -€37,797. Equity is growing by ~23% per year across the filed fiscal years. Its solvency ranks better than 57% of 1327 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability11▼-73
Solvency77▼-3
Growth68▼-17
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €12,000 at 30 days acceptable
Liquidity tight (current ratio 1.32 against 1.61 in 2024; short-term debt: 40.2% and cash: 9.3% of total assets), and 47.9% of the assets are financed with debt.
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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 33
Relative position
BE, all sectors
reference
Repair, maintenance and installation of machinery and equipment (NACE 33)
about 56% more 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
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
52.1%
Return on assets
-8.7%
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 19-02-2026, 19 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
19 d late
2024
10 d late
2023
21 d late
2022
23 d late
2021
42 d late
2020
25 d late
2019
32 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 25 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% 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 close28-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€825,527▲ 15.9%
2024 · €712,539
EBIT margin
-2.8%▼ 16.8pp
2024 · 14.1%
Net result
-€37,797
2024 · €60,233
Working capital
€55,277▼ 46.7%
2024 · €103,737
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 33, Repair, maintenance and installation of machinery and equipment, 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€509,237▲ 74.6%€691,118▲ 35.7%€820,743▲ 18.8%€712,539▼ 13.2%€825,527▲ 15.9%
Operating result€146,702▲ 463%€54,870▼ 62.6%€21,848▼ 60.2%€100,190▲ 359%-€22,937
Net result€96,487above the sector's middle half▲ 541%€28,524within the sector's middle half▼ 70.4%-€1,228below the sector's middle half€60,233above the sector's middle half-€37,797below the sector's middle half
EBIT margin28.8%▲ 19.9pp7.9%▼ 20.9pp2.7%▼ 5.3pp14.1%▲ 11.4pp-2.8%▼ 16.8pp
Equity€177,151above the sector's middle half▲ 120%€205,675above the sector's middle half▲ 16.1%€204,447above the sector's middle half▼ 0.6%€264,681above the sector's middle half▲ 29.5%€226,884above the sector's middle half▼ 14.3%
Total assets€476,249above the sector's middle half▲ 35.9%€512,623above the sector's middle half▲ 7.6%€512,157above the sector's middle half▼ 0.1%€479,494above the sector's middle half▼ 6.4%€435,465above the sector's middle half▼ 9.2%
Debt€299,098▲ 10.8%€306,948▲ 2.6%€307,710▲ 0.2%€214,814▼ 30.2%€208,581▼ 2.9%
Working capital-€31,044below the sector's middle half€40,106within the sector's middle half€144,754above the sector's middle half▲ 261%€103,737above the sector's middle half▼ 28.3%€55,277within the sector's middle half▼ 46.7%
Solvency37.2%within the sector's middle half▲ 14.2pp40.1%within the sector's middle half▲ 2.9pp39.9%within the sector's middle half▼ 0.2pp55.2%within the sector's middle half▲ 15.3pp52.1%within the sector's middle half▼ 3.1pp
Current ratio0.84below the sector's middle half▼ 2.571.17within the sector's middle half▲ 0.332.09within the sector's middle half▲ 0.921.61within the sector's middle half▼ 0.481.32within the sector's middle half▼ 0.30
Return on assets (ROA)20.3%within the sector's middle half▲ 16.0pp5.6%within the sector's middle half▼ 14.7pp-0.2%below the sector's middle half▼ 5.8pp12.6%within the sector's middle half▲ 12.8pp-8.7%below the sector's middle half▼ 21.2pp
Staff (FTE)2.34.2▲ 82.6%5.7▲ 35.7%5.7=6.6▲ 15.8%
above
within
below
the middle half (P25 to P75) of NACE 33, Repair, maintenance and installation of machinery and equipment, 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 turns negative in 2025: a loss of €22,937 after €100,190 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €435,465
Fixed assets
€205,136 ▼ 0.6%
Current assets
€230,329 ▼ 15.7%
Equity and liabilities €435,465
Equity
€226,884 ▼ 14.3%
Debt
€208,581 ▼ 2.9%
Debt's share of the balance-sheet total rises from 44.8% to 47.9%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€8,206▼
2024 · €117,689
Cash flow
-€23,066▼
2024 · €77,732
Quick ratio
1.24▼
2024 · 1.58
Debt to equity
0.92▲
2024 · 0.81
ROE
-16.7%▼
2024 · 22.8%
Interest coverage
-0.85▼
2024 · 5.85
Debt ≤ 1 year
€175,052▲
2024 · €169,479
Debt > 1 year
€31,334▼
2024 · €45,334
Income taxes
€463▼
2024 · €20,297
Staff costs
€268,328▲
2024 · €198,497
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,915 companies that looked in July 2024 the way this one looks now, 1.1% went bankrupt within 24 months and 91% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a small loss
1.1%
went bankrupt
7.8%
stopped otherwise
91%
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 0.9% 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 497,662 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% | 1.7% |
| 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 75% 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 6,915 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €509,237 | €691,118 | €820,743 | €712,539 | €825,527 | ▲ 15.9% |
| Non-recurring operating income76A | - | €101,752 | - | €154,593 | €4,378 | ▼ 97.2% |
| Goods, raw materials, services and sundry goods60/61 | - | €598,333 | €648,247 | €582,748 | €607,062 | ▲ 4.2% |
| Remuneration, social security and pensions62 | - | €125,817 | €172,257 | €198,497 | €268,328 | ▲ 35.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €36,523 | €14,796 | €17,573 | €17,499 | €14,731 | ▼ 15.8% |
| Other operating charges640/8 | - | €16,279 | €4,161 | €10,438 | €4,613 | ▼ 55.8% |
| Gross operating margin9900 | €223,803 | €211,762 | €215,839 | €326,623 | €264,735 | ▼ 18.9% |
| Operating profit (loss)9901 | €146,702 | €54,870 | €21,848 | €100,190 | -€22,937 | ▼ 123% |
| Financial income75/76B | - | €1,115 | €468 | €2,744 | €2,321 | ▼ 15.4% |
| Recurring financial income75 | €912 | €874 | €386 | €1,482 | €962 | ▼ 35.0% |
| Non-recurring financial income76B | - | €241 | €82 | €1,262 | €1,358 | ▲ 7.6% |
| Financial charges65/66B | - | €14,926 | €19,025 | €22,403 | €16,718 | ▼ 25.4% |
| Recurring financial charges65 | €10,855 | €12,207 | €12,435 | €20,133 | €9,629 | ▼ 52.2% |
| Non-recurring financial charges66B | - | €2,719 | €6,591 | €2,271 | €7,089 | ▲ 212% |
| Profit (loss) for the period before taxes9903 | €130,928 | €41,059 | €3,291 | €80,531 | -€37,334 | ▼ 146% |
| Income taxes67/77 | €34,441 | €12,535 | €4,519 | €20,297 | €463 | ▼ 97.7% |
| Profit (loss) for the period9904 | €96,487 | €28,524 | -€1,228 | €60,233 | -€37,797 | ▼ 163% |
| Profit (loss) for the period to be appropriated9905 | €96,487 | €28,524 | -€1,228 | €60,233 | -€37,797 | ▼ 163% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €476,249 | €512,623 | €512,157 | €479,494 | €435,465 | ▼ 9.2% |
| Fixed assets21/28 | €311,120 | €239,904 | €234,433 | €206,278 | €205,136 | ▼ 0.6% |
| Intangible fixed assets21 | - | €0 | - | - | - | - |
| Tangible fixed assets22/27 | €307,620 | €232,804 | €227,083 | €198,928 | €201,386 | ▲ 1.2% |
| Land and buildings22 | - | €209,660 | €203,287 | €180,714 | €181,380 | ▲ 0.4% |
| Plant, machinery and equipment23 | - | €838 | €3,634 | €3,402 | €2,794 | ▼ 17.9% |
| Furniture and vehicles24 | - | €14,175 | €12,995 | €8,606 | €6,287 | ▼ 26.9% |
| Other tangible fixed assets26 | - | €8,131 | €7,168 | €6,205 | €10,925 | ▲ 76.1% |
| Financial fixed assets28 | €3,500 | €7,100 | €7,350 | €7,350 | €3,750 | ▼ 49.0% |
| Current assets29/58 | €165,129 | €272,719 | €277,724 | €273,217 | €230,329 | ▼ 15.7% |
| Stocks and contracts in progress3 | €500 | €20,000 | €10,000 | €5,000 | €12,500 | ▲ 150% |
| Stocks30/36 | - | €20,000 | €10,000 | €5,000 | €12,500 | ▲ 150% |
| Amounts receivable within one year40/41 | €139,591 | €163,631 | €205,848 | €166,949 | €176,793 | ▲ 5.9% |
| Trade receivables40 | - | €153,631 | €205,743 | €166,844 | €176,617 | ▲ 5.9% |
| Other amounts receivable41 | - | €10,000 | €106 | €106 | €176 | ▲ 65.8% |
| Cash at bank and in hand54/58 | €24,260 | €65,611 | €60,448 | €88,111 | €40,305 | ▼ 54.3% |
| Deferred charges and accrued income490/1 | - | €23,477 | €1,428 | €13,156 | €731 | ▼ 94.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €476,249 | €512,623 | €512,157 | €479,494 | €435,465 | ▼ 9.2% |
| Equity10/15 | €177,151 | €205,675 | €204,447 | €264,681 | €226,884 | ▼ 14.3% |
| Contributions10/11 | - | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Non-distributable reserves130/1 | - | €2,000 | - | - | - | - |
| Reserves not available under the articles1311 | - | €2,000 | - | - | - | - |
| Distributable reserves133 | - | - | €2,000 | €2,000 | €2,000 | = |
| Profit (loss) carried forward14 | €155,151 | €183,675 | €182,447 | €242,681 | €204,884 | ▼ 15.6% |
| Amounts payable17/49 | €299,098 | €306,948 | €307,710 | €214,814 | €208,581 | ▼ 2.9% |
| Amounts payable after more than one year17 | €102,510 | €74,334 | €174,334 | €45,334 | €31,334 | ▼ 30.9% |
| Financial debts170/4 | - | €73,104 | €173,104 | €44,104 | €30,104 | ▼ 31.7% |
| Other amounts payable178/9 | - | €1,230 | €1,230 | €1,230 | €1,230 | = |
| Amounts payable within one year42/48 | €196,173 | €232,614 | €132,971 | €169,479 | €175,052 | ▲ 3.3% |
| Current portion of amounts payable after more than one year42 | - | €28,481 | €16,055 | €15,856 | €15,345 | ▼ 3.2% |
| Trade debts44 | €35,558 | €45,836 | €73,230 | €50,074 | €97,657 | ▲ 95.0% |
| Suppliers440/4 | - | €45,836 | €73,230 | €50,074 | €97,657 | ▲ 95.0% |
| Taxes, remuneration and social security45 | - | €59,882 | €35,627 | €77,041 | €49,319 | ▼ 36.0% |
| Taxes450/3 | - | €42,210 | €12,913 | €43,857 | €17,754 | ▼ 59.5% |
| Remuneration and social security454/9 | - | €17,672 | €22,714 | €33,184 | €31,565 | ▼ 4.9% |
| Other amounts payable47/48 | - | €98,415 | €8,059 | €26,508 | €12,730 | ▼ 52.0% |
| Accrued charges and deferred income492/3 | - | - | €405 | - | €2,195 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €96,487 | €28,524 | -€1,228 | €60,233 | -€37,797 | ▼ 163% |
| + Depreciation and write-downs630 | €36,523 | €14,796 | €17,573 | €17,499 | €14,731 | ▼ 15.8% |
| Operating cash flow (approximation) | €133,010 | €43,319 | €16,345 | €77,732 | -€23,066 | ▼ 130% |
| Investment in fixed assets (approximation) | - | €56,421 | -€12,103 | €10,657 | -€13,589 | ▼ 228% |
| Change in cash | - | €41,350 | -€5,163 | €27,663 | -€47,806 | ▼ 273% |
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
19-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 19 days late
2025
30-06
Financial
Weakest financial yearnet -€37,797
Net result drops to -€37,797, the lowest in the series.
10-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 10 days late
2024
30-06
Financial
Back to profitnet €60,233
Net result €60,233 after one loss-making year.
21-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 21 days late
2023
23-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 23 days late
2022
30-06
Financial
Equity above €200,000Eq €205,675 ▲16.1%
3 profitable years in a row build equity to €205,675.
14-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 42 days late
2021
30-06
Financial
Highest result since 2019net €96,487 ▲541%
Operating result €146,702, net result €96,487, both a record.
30-06
Financial
Equity above €150,000Eq €177,151 ▲120%
2 profitable years in a row build equity to €177,151.
25-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 25 days late
2020
30-06
Financial
Back to profitnet €15,049
Net result €15,049 after one loss-making year.
Show earlier events
03-03
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 32 days late
2019
08-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 36 days late
2018
31-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
10-03
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 38 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Sprimont · 1 establishment unit since 2013
Ground area
6,261 m²
Building footprint
339 m²
Volume, LiDAR
920 m³
2 parcels, Wallonia · tallest building 8.5 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
ARTHOPA
since 20132.217.063.078
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62045A0055/00T004 | Wallonia | 3,554 m² | 1 · 218 m² | - |
| 62028C0785/00V000 | Wallonia | 2,707 m² | 1 · 120 m² | 8.5 m · 3 fl. |
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 174 companies in sector 33190 we hold annual accounts for 62. 48 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
Founded29-10-2007
Fiscal year end30-06
Activities, NACEBEL 2025
28250Manufacture of machinery and equipment not elsewhere classified
33190Repair, maintenance and installation of machinery and equipment
E-invoicing
Reachable via Peppol
Peppol ID
0208:0893142049
Also
9925:BE0893142049
Registered
06-10-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.