Artiley
ActiveSummary
The computed 12-month bankruptcy probability of Artiley is 2.7% (moderate). The 2025 annual accounts show negative equity (-€6,584) and a net result of €658. Equity is growing by ~7% per year across the filed fiscal years. Its solvency ranks better than 5% of 11502 sector peers (fiscal year 2025). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability77▼-14
Solvency0=
Growth58=
Track record94
Bankruptcy probability, 12 months
2.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
balance sheet total too small for a liquidity verdict, and equity is negative.
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.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 2025Age of the figures
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 11502 sector peers (2025).
NBB · sector comparisonPosition among 11502 sector peers
Solvency
better than 5%
← 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 01-04-2026, 121 days ahead of the deadline.
NBB · 5 filingsDeviation from the deadline
2025
121 d early
2024
31 d early
2023
27 d early
2022
25 d late
2021
60 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 19 days before 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 31-12-2026 and is due by 31-07-2027. Nothing is late today. Usually files around 5 July (4 of the last 5 filed years within 86 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 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 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 How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
Is this your company? See how customers and banks see it.
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
-€6,584▲ 9.1%
2024 · -€7,242
Total assets
€4▼ 99.8%
2024 · €1,833
Net result
€658▲ 44.1%
2024 · €457
Working capital
-€6,584▲ 15.5%
2024 · -€7,797
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 46, Wholesale trade, 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-€4,060--€6,947▼ 71.1%€2,990€733▼ 75.5%€1,066▲ 45.3%
Net result-€4,080below the sector's middle half--€7,123below the sector's middle half▼ 74.6%€2,505within the sector's middle half€457within the sector's middle half▼ 81.8%€658within the sector's middle half▲ 44.1%
Equity-€3,080below the sector's middle half--€10,204below the sector's middle half▼ 231%-€7,699below the sector's middle half▲ 24.6%-€7,242below the sector's middle half▲ 5.9%-€6,584below the sector's middle half▲ 9.1%
Total assets€18,695below the sector's middle half-€11,846below the sector's middle half▼ 36.6%€18,130below the sector's middle half▲ 53.0%€1,833below the sector's middle half▼ 89.9%€4below the sector's middle half▼ 99.8%
Debt€21,775-€22,050▲ 1.3%€25,828▲ 17.1%€9,076▼ 64.9%€6,589▼ 27.4%
Working capital-€14,959below the sector's middle half--€19,547below the sector's middle half▼ 30.7%-€14,484below the sector's middle half▲ 25.9%-€7,797below the sector's middle half▲ 46.2%-€6,584below the sector's middle half▲ 15.5%
Solvency-16.5%below the sector's middle half--86.1%below the sector's middle half▼ 69.7pp-42.5%below the sector's middle half▲ 43.7pp
Current ratio0.31below the sector's middle half-0.11below the sector's middle half▼ 0.200.44below the sector's middle half▲ 0.33
Return on assets (ROA)-21.8%below the sector's middle half--60.1%below the sector's middle half▼ 38.3pp13.8%above the sector's middle half▲ 73.9pp
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, 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 recovers in 2025; 2025 is 45% above 2024.
Key figures and ratios
EBITDA
€1,329▼
2024 · €1,358
Cash flow
€922▼
2024 · €1,081
Interest coverage
3.26▼
2024 · 4.91
Debt ≤ 1 year
€6,589▼
2024 · €9,076
Ratios withheld: a balance sheet total of €4 is too small for a meaningful ratio.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 2,178 companies that looked in July 2024 the way this one looks now, 4.3% went bankrupt within 24 months and 89% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a profit of 5% of the balance sheet or more
4.3%
went bankrupt
5.6%
stopped otherwise
89%
still going
A further 1.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 2.7% 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 2,178 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €891 | €2,559 | €2,559 | €625 | €264 | ▼ 57.8% |
| Other operating charges640/8 | €234 | €289 | €265 | €119 | €201 | ▲ 69.3% |
| Non-recurring operating charges66A | - | - | - | €1,887 | €291 | ▼ 84.6% |
| Gross operating margin9900 | -€2,935 | -€4,099 | €5,814 | €3,363 | €1,821 | ▼ 45.9% |
| Operating profit (loss)9901 | -€4,060 | -€6,947 | €2,990 | €733 | €1,066 | ▲ 45.3% |
| Financial income75/76B | €49 | €19 | €14 | €0 | €0 | ▼ 100% |
| Recurring financial income75 | €49 | €19 | €14 | €0 | €0 | ▼ 100% |
| Financial charges65/66B | €69 | €196 | €498 | €277 | €408 | ▲ 47.4% |
| Recurring financial charges65 | €69 | €196 | €498 | €277 | €408 | ▲ 47.4% |
| Profit (loss) for the period before taxes9903 | -€4,080 | -€7,123 | €2,505 | €457 | €658 | ▲ 44.1% |
| Profit (loss) for the period9904 | -€4,080 | -€7,123 | €2,505 | €457 | €658 | ▲ 44.1% |
| Profit (loss) for the period to be appropriated9905 | -€4,080 | -€7,123 | €2,505 | €457 | €658 | ▲ 44.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €18,695 | €11,846 | €18,130 | €1,833 | €4 | ▼ 99.8% |
| Formation expenses20 | €1,196 | €886 | €575 | €264 | €0 | ▼ 100% |
| Fixed assets21/28 | €10,706 | €8,458 | €6,210 | €291 | €0 | ▼ 100% |
| Tangible fixed assets22/27 | €10,706 | €8,458 | €6,210 | €291 | €0 | ▼ 100% |
| Furniture and vehicles24 | €10,706 | €8,458 | €6,210 | €291 | €0 | ▼ 100% |
| Current assets29/58 | €6,792 | €2,503 | €11,345 | €1,279 | €4 | ▼ 99.7% |
| Stocks and contracts in progress3 | €1,682 | €0 | - | - | - | - |
| Stocks30/36 | €1,682 | €0 | - | - | - | - |
| Amounts receivable within one year40/41 | €3,607 | €841 | €9,402 | €992 | €0 | ▼ 100% |
| Trade receivables40 | €1,824 | €841 | €9,402 | €0 | - | - |
| Other amounts receivable41 | €1,782 | €0 | - | €992 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €1,122 | €1,370 | €1,683 | €178 | €4 | ▼ 97.5% |
| Deferred charges and accrued income490/1 | €382 | €292 | €259 | €109 | €0 | ▼ 100% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €18,695 | €11,846 | €18,130 | €1,833 | €4 | ▼ 99.8% |
| Equity10/15 | -€3,080 | -€10,204 | -€7,699 | -€7,242 | -€6,584 | ▲ 9.1% |
| Contributions10/11 | €1,000 | €1,000 | €1,000 | €1,000 | €1,000 | = |
| Profit (loss) carried forward14 | -€4,080 | -€11,204 | -€8,699 | -€8,242 | -€7,584 | ▲ 8.0% |
| Amounts payable17/49 | €21,775 | €22,050 | €25,828 | €9,076 | €6,589 | ▼ 27.4% |
| Amounts payable within one year42/48 | €21,752 | €22,050 | €25,828 | €9,076 | €6,589 | ▼ 27.4% |
| Trade debts44 | €1,823 | €3,610 | €2,066 | €2,214 | €13 | ▼ 99.4% |
| Suppliers440/4 | €1,823 | €3,610 | €2,066 | €2,214 | €13 | ▼ 99.4% |
| Taxes, remuneration and social security45 | - | €610 | €8,802 | €0 | - | - |
| Taxes450/3 | - | €610 | €5,102 | €0 | - | - |
| Remuneration and social security454/9 | - | - | €3,700 | €0 | - | - |
| Other amounts payable47/48 | €19,929 | €17,830 | €14,960 | €6,861 | €6,576 | ▼ 4.2% |
| Accrued charges and deferred income492/3 | €23 | €0 | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,080 | -€7,123 | €2,505 | €457 | €658 | ▲ 44.1% |
| + Depreciation and write-downs630 | €891 | €2,559 | €2,559 | €625 | €264 | ▼ 57.8% |
| Operating cash flow (approximation) | -€3,189 | -€4,565 | €5,064 | €1,081 | €922 | ▼ 14.8% |
| Investment in fixed assets (approximation) | - | -€311 | -€311 | €5,295 | €27 | ▼ 99.5% |
| Change in cash | - | €249 | €313 | -€1,505 | -€173 | ▲ 88.5% |
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
22-06
State Gazette act
Resignation: Victor Cinjaere (non-statutory director)Appointment: Harry Cinjaere (non-statutory director) · Permanent representative: Sylvie Vandenberghe · Registered-office move6 facts ▸
State Gazette act
Resignation: Victor Cinjaere (non-statutory director)
Appointment: Harry Cinjaere (non-statutory director) · Permanent representative: Sylvie Vandenberghe · Registered-office move6 facts ▸
- General meeting, 06-05-2026
- Director resignation, Victor Cinjaere (non-statutory director)
- Director appointment, Harry Cinjaere (non-statutory director)
- Registered-office move, Meensesteenweg 123/A021, 8500 Kortrijk
- Power of attorney, BV ACCOFISC BVS
- Permanent representative, Sylvie Vandenberghe (permanent representative)
01-04
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €2,505
Net result €2,505 after 2 loss-making years.
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 25 days late
2022
31-12
Financial
Weakest financial yearnet -€7,123
Net result drops to -€7,123, the lowest in the series; recovery starts the following year.
29-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 60 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
Sign in to place this company at the front of the reading queue.
Directors · office · real estate
Directors
1 director, last change in 2026
Harry Cinjaere
CurrentNon-statutory director · since 07-05-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
3 of this company's 4 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Kortrijk · 1 establishment unit since 2020
Ground area
2,247 m²
Building footprint
113 m²
Volume, LiDAR
632 m³
Parcel 34352A0039/00S000, Flanders · tallest building 12.2 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
SPECTRI / MORPH
since 20202.309.307.209
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34352A0039/00S000 | Flanders | 2,247 m² | 1 · 113 m² | 12.2 m · 1 fl. |
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.
Mandate history
2 people since 2026, 1 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Harry Cinjaere |
|
| Victor Cinjaere |
|
Structure & network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Similar companies · same sector and region
APRINTEX
BE 0890.058.043
Kortrijk
ASCONA
BE 0442.333.559
Kortrijk
BENEWEAVE
BE 0443.679.681
Kortrijk
D.T.O.
BE 0474.953.471
Kortrijk
DC Reflex
BE 0418.138.492
Kortrijk
This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 687 companies in sector 46412 we hold annual accounts for 518. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded03-11-2020
Fiscal year end31-12
Activities, NACEBEL 2025
46412Wholesale of household textiles and bedding
46190Agents in non-specialised wholesale trade
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0757759050
Also
9925:BE0757759050
Registered
15-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.