Artinar
ActiveArtinar has been active since 1970 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €205k and a net result of €13k. Equity is growing by ~6.4% per year across the filed fiscal years. Its solvency ranks better than 20% of 1030 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
65
/ 100
Healthy
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability70▲+6
Solvency46▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €13k at 30 days acceptable
Liquidity short (current ratio 0.71 against 0.83 in 2024; short-term debt: 43.9% and cash: 15.3% of total assets), and 78.7% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 25
Relative position
BE, all sectors
reference
Sector 25
higher
← 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
21.3%
Return on assets
1.4%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 1030 sector peers (2025).
NBB · sector comparisonPosition among 1030 sector peers
Solvency
better than 20%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 28-08-2026, 28 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
28 d late
2024
31 d late
2023
30 d late
2022
186 d late
2021
30 d late
2020
90 d late
2019
122 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
21-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€205k▲ 7.0%
2024 · €191k
2018: €133k
2019: €142k
2020: €151k
2021: €163k
2022: €174k
2023: €183k
2024: €191k
2018 → 2025
Total assets
€960k▲ 2.4%
2024 · €938k
2018: €1.48M
2019: €1.23M
2020: €1.14M
2021: €1.06M
2022: €988k
2023: €899k
2024: €938k
2018 → 2025
Net result
€13k▲ 51.5%
2024 · €9k
2018: €6k
2019: €9k
2020: €9k
2021: €12k
2022: €11k
2023: €9k
2024: €9k
2018 → 2025
Working capital
€-121k▼ 75.5%
2024 · €-69k
2018: €-21k
2019: €-9k
2020: €317
2021: €-16k
2022: €-67k
2023: €-66k
2024: €-69k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€163k-€174k▲ 6.9%€183k▲ 5.0%€191k▲ 4.8%€205k▲ 7.0%
Operating result€29k-€26k▼ 11.2%€28k▲ 6.7%€30k▲ 7.0%€39k▲ 30.5%
Net result€12k-€11k▼ 3.9%€9k▼ 22.8%€9k▲ 1.5%€13k▲ 51.5%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 30% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €960k
Fixed assets
€659k▲ 11.5%
Current assets
€301k▼ 13.3%
Equity and liabilities €960k
Equity
€205k▲ 7.0%
Debt
€755k▲ 1.2%
The debt ratio falls from 79.6% to 78.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€123k▲
2024 · €98k
Cash flow
€98k▲
2024 · €78k
Solvency
21.3%▲
2024 · 20.4%
Current ratio
0.71▼
2024 · 0.83
Quick ratio
0.64▲
2024 · 0.64
Debt / equity
3.69▼
2024 · 3.90
ROE
6.5%▲
2024 · 4.6%
ROA
1.4%▲
2024 · 0.9%
Interest coverage
6.99▲
2024 · 5.27
Debt
€755k▲
2024 · €746k
Debt ≤ 1 year
€421k▲
2024 · €415k
Debt > 1 year
€334k▲
2024 · €330k
Income taxes
€8k▲
2024 · €3k
Staff costs
€165k▼
2024 · €188k
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€938k€960k▲
Fixed assets21/28€591k€659k▲
Tangible fixed assets22/27€584k€652k▲
Land and buildings22€481k€451k▼
Plant, machinery and equipment23€3k€4k▲
Furniture and vehicles24€99k€197k▲
Other tangible fixed assets26€525-
Financial fixed assets28€7k€7k=
Current assets29/58€347k€301k▼
Stocks and contracts in progress3€82k€32k▼
Stocks30/36€62k€32k▼
Contracts in progress37€20k-
Amounts receivable within one year40/41€152k€122k▼
Trade receivables40€147k€115k▼
Other amounts receivable41€5k€7k▲
Cash at bank and in hand54/58€108k€147k▲
Deferred charges and accrued income490/1€5k€496▼
Equity and liabilities
Total equity and liabilities10/49€938k€960k▲
Equity10/15€191k€205k▲
Contributions10/11€20k€20k=
Reserves13€171k€184k▲
Tax-exempt reserves132€10k€10k=
Distributable reserves133€161k€175k▲
Amounts payable17/49€746k€755k▲
Amounts payable after more than one year17€330k€334k▲
Financial debts170/4€330k€321k▼
Other amounts payable178/9-€12k
Amounts payable within one year42/48€415k€421k▲
Current portion of amounts payable after more than one year42€74k€84k▲
Financial debts43€120k€75k▼
Credit institutions430/8€120k€75k▼
Trade debts44€143k€169k▲
Suppliers440/4€143k€169k▲
Advances received on contracts in progress46-€17k
Taxes, remuneration and social security45€20k€16k▼
Taxes450/3€443€2k▲
Remuneration and social security454/9€19k€15k▼
Other amounts payable47/48€58k€61k▲
Accrued charges and deferred income492/3€569-
Income statement
Code20242025
Remuneration, social security and pensions62€188k€165k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€69k€85k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4-€4k
Other operating charges640/8€10k€10k▼
Gross operating margin9900€296k€302k▲
Operating profit (loss)9901€30k€39k▲
Financial income75/76B€948€288▼
Recurring financial income75€948€288▼
Financial charges65/66B€19k€18k▼
Recurring financial charges65€19k€18k▼
Profit (loss) for the period before taxes9903€12k€21k▲
Income taxes67/77€3k€8k▲
Profit (loss) for the period9904€9k€13k▲
Profit (loss) for the period to be appropriated9905€9k€13k▲
Appropriation of the result
Profit (loss) to be appropriated9906€9k€13k▲
Transfer to equity691/2€9k€13k▲
To other reserves6921€9k€13k▲
Social balance
Average headcount (FTE)90873.03.0=
The notes to these accounts (17 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
28-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 28 days late
2025
31-12
Financial
Highest result since 2018net €13k ▲51.5%
Operating result €39k, net result €13k, both a record.
31-12
Financial
Equity above €200kEq €205k ▲7%
8 profitable years in a row build equity to €205k.
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 31 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
02-02
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 186 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 30 days late
2021
29-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 90 days late
2020
31-12
Financial
Equity above €150kEq €151k ▲6.4%
3 profitable years in a row build equity to €151k.
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 122 days late
2019
19-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 19 days late
2018
28-08
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 28 days late
2017
16-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 16 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
3 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, Nieuwerkerken (Limb.) · 1 establishment unit since 1971
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.
Ambachtstraat 11253850 Nieuwerkerken (Limb.)Ground area
1,499 m²
Building footprint
892 m²
Volume, LiDAR
6 m³
Parcel 71045A0108/00P002, Flanders · tallest building 1.6 m. Linked by address, not a title deed.
1 establishment unit
Ambachtstraat 1125, 3850 Nieuwerkerken (Limb.)
since 19712.038.051.657
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71045A0108/00P002 | Flanders | 1,499 m² | 1 · 892 m² | 1.6 m |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 3 entries · 1,372 EUR awarded · 1,300 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 467 EUR | 395 EUR |
| 2023 | 1 | 293 EUR | 293 EUR |
| 2022 | 1 | 612 EUR | 612 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Recognised contractor
5 categoriesArtinar BV42479
Similar companies · same sector, comparable size
Eeckhout Invest
BE 0860.633.686
Maldegem · Eq €204k
VRANCKX RUDY RENTING
BE 0805.682.097
Kampenhout · Eq €205k
HS SOUDURE
BE 0739.628.958
Hamois · Eq €204k
MetalSight
BE 0781.428.040
Grimbergen · Eq €204k
NORAM
BE 0862.347.222
Wommelgem · Eq €204k
Of 3,986 companies in sector 25110 we hold annual accounts for 2,147. 1,667 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded03-12-1970
Fiscal year end31-12
Activities, NACEBEL
25110Manufacture of metal structures and parts of structures
28110
43211General electrical installation work
42220Construction of utility projects for electricity and telecommunications
45215
45310
46140Agents in the wholesale of industrial machinery, ships and aircraft
46643Wholesale of electrical equipment, including installation materials
47552Retail sale of lighting equipment
47592Retail trade
52442
Sources
Crossroads Bank for EnterprisesNational Bank · 49 filingsAddress and cadastre registers
Data from official sources, last processed on 20-09-2026. Scores and ratios are computed by Checked and are not a credit decision.