ARTIFICIAL PINE ARCH MANUFACTURING
ActiveARTIFICIAL PINE ARCH MANUFACTURING has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €110k and a net result of €17k. Equity is growing by ~12% per year across the filed fiscal years. Its solvency ranks better than 27% of 528 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
62
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability72▼-3
Solvency41▲+1
Growth52=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €6k at 30 days acceptable
Liquidity short (current ratio 0.47 against 0.65 in 2024; short-term debt: 50.4% and cash: 0.6% of total assets), and 83.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 90
Relative position
BE, all sectors
reference
Sector 90
lower
← 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
16.4%
Return on assets
2.5%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 26-08-2026, 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 · 8 filingsDeviation from the deadline
2025
26 d late
2024
14 d late
2023
20 d late
2022
150 d late
2021
61 d late
2020
61 d late
2019
91 d late
← before the deadline
after the deadline →
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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€17k▼ 41.7%
2024 · €29k
2018: €31k
2019: €3k
2020: €8k
2021: €-48k
2022: €37k
2023: €15k
2024: €29k
2018 → 2025
Working capital
€-178k▼ 83.7%
2024 · €-97k
2018: €18k
2019: €-14k
2020: €17k
2021: €-111k
2022: €-57k
2023: €-72k
2024: €-97k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€12k-€49k▲ 301%€64k▲ 30.3%€93k▲ 44.9%€110k▲ 18.1%
Operating result€-44k-€41k€25k▼ 39.6%€38k▲ 51.7%€26k▼ 31.4%
Net result€-48k-€37k€15k▼ 59.6%€29k▲ 93.0%€17k▼ 41.7%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 31% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €667k
Fixed assets
€509k▲ 20.1%
Current assets
€158k▼ 13.1%
Equity and liabilities €667k
Equity
€110k▲ 18.1%
Debt
€557k▲ 8.7%
The debt ratio falls from 84.7% to 83.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€63k▲
2024 · €61k
Cash flow
€54k▲
2024 · €52k
Solvency
16.4%▲
2024 · 15.3%
Current ratio
0.47▼
2024 · 0.65
Quick ratio
0.47▼
2024 · 0.65
Debt / equity
5.09▼
2024 · 5.53
ROE
15.3%▼
2024 · 31.0%
ROA
2.5%▼
2024 · 4.7%
Interest coverage
9.81▲
2024 · 8.71
Debt
€557k▲
2024 · €513k
Debt ≤ 1 year
€336k▲
2024 · €279k
Debt > 1 year
€187k▼
2024 · €198k
Income taxes
€3k▼
2024 · €8k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€606k€667k▲
Fixed assets21/28€423k€509k▲
Intangible fixed assets21€11k€7k▼
Tangible fixed assets22/27€412k€501k▲
Land and buildings22€288k€280k▼
Plant, machinery and equipment23€5k€12k▲
Furniture and vehicles24€10k€9k▼
Leasing and similar rights25€622-
Other tangible fixed assets26€108k€200k▲
Current assets29/58€182k€158k▼
Amounts receivable within one year40/41€164k€153k▼
Trade receivables40€152k€149k▼
Other amounts receivable41€12k€4k▼
Cash at bank and in hand54/58€12k€4k▼
Deferred charges and accrued income490/1€6k€2k▼
Equity and liabilities
Total equity and liabilities10/49€606k€667k▲
Equity10/15€93k€110k▲
Contributions10/11€19k€19k=
Reserves13€2k€2k=
Distributable reserves133€2k€2k=
Profit (loss) carried forward14€73k€89k▲
Amounts payable17/49€513k€557k▲
Amounts payable after more than one year17€198k€187k▼
Financial debts170/4€198k€187k▼
Amounts payable within one year42/48€279k€336k▲
Current portion of amounts payable after more than one year42€11k€11k▲
Trade debts44€76k€70k▼
Suppliers440/4€76k€70k▼
Advances received on contracts in progress46€21k-
Taxes, remuneration and social security45€9k€10k▲
Taxes450/3€9k€10k▲
Other amounts payable47/48€161k€245k▲
Accrued charges and deferred income492/3€36k€35k▼
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€23k€37k▲
Other operating charges640/8€904€933▲
Gross operating margin9900€62k€64k▲
Operating profit (loss)9901€38k€26k▼
Financial income75/76B€5k€90▼
Recurring financial income75€5k€90▼
Financial charges65/66B€7k€6k▼
Recurring financial charges65€7k€6k▼
Profit (loss) for the period before taxes9903€36k€20k▼
Income taxes67/77€8k€3k▼
Profit (loss) for the period9904€29k€17k▼
Profit (loss) for the period to be appropriated9905€29k€17k▼
Appropriation of the result
Profit (loss) to be appropriated9906€73k€89k▲
Profit (loss) brought forward from the previous period14P€44k€73k▲
The notes to these accounts (16 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
26-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 26 days late
2025
31-12
Financial
Equity above €100kEq €110k ▲18.1%
4 profitable years in a row build equity to €110k.
14-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 14 days late
2024
20-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 20 days late
2023
28-12
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 150 days late
2022
31-12
Financial
Back to profitnet €37k
Net result €37k after one loss-making year.
30-09
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 61 days late
2021
31-12
Financial
Weakest financial yearnet €-48k ▼689%
Net result drops to €-48k, the lowest in the series; recovery starts the following year.
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 61 days late
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 91 days late
2019
31-10
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 92 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
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, Kapelle-op-den-Bos · 1 establishment unit since 2017
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Waterloostraat 41880 Kapelle-op-den-BosGround area
1,461 m²
Building footprint
309 m²
Volume, LiDAR
1,878 m³
2 parcels, Brussels, Flanders · tallest building 16.3 m, ±5 floors. Linked by address, not a title deed.
1 establishment unit
ARTIFICIAL PINE ARCH MANUFACTURING
since 20172.275.174.392
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23039B0393/00G000 | Flanders | 1,299 m² | 1 · 216 m² | 4.6 m · 1 fl. |
| 21812N0519/00X000 | Brussels | 162 m² | 1 · 92 m² | 16.3 m · 5 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
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 1,987 companies in sector 90120 we hold annual accounts for 208. 150 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded02-10-2017
Fiscal year end31-12
Abbreviation FR
A.P.A. MFG
Activities, NACEBEL
90032Arts creation and performing arts activities
90120Visual arts creation
Sources
Crossroads Bank for EnterprisesNational Bank · 8 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.