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Arts 44

Active
Private limited companyfounded 201511 yrs activeVorstlaan 100, 1170 Watermaal-Bosvoorde, BelgiumKBO/BCE: BE 0634.735.534
Summary

For Arts 44, at least two filing cycles of the annual accounts are missing. The 2023 annual accounts show negative equity (-€4.9m) and a net result of -€2.6m. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 8% of 4695 sector peers (fiscal year 2023). The company has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 1.1% (low).

Checked score

No current score
Figures too old
The available figures for FY 2023 are too old to assess current financial health.
Filing: At least two filing cycles are missing
Axes, FY 2023 · tick = 2022
Profitability8▲+3
Solvency6▼-9
Growth32=
Track record100
Bankruptcy probability, 12 months
1.1% Low
0%0.5%1.5%4%10%≥ 25%
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.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
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 2023
Solvency, return and age of the figures
Solvency
-19%
Return on assets
-9.9%
Age of the figures
33 mo
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies more bankruptcies →
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2024, 2 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 9 filings
Position against the passed deadline
31-12-2024 close31-07-2025 deadline30-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2023 was due by 31-07-2024 and was filed on 25-09-2024, 56 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 · 9 filings
Deviation from the deadline
2025
not confirmed
2024
not filed
2023
56 d late
2022
16 d early
2021
1 d late
2020
36 d early
2019
22 d early
← 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 3 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.

Checked, nothing found (1)
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

On 30 July 2015, Arts 44 was incorporated.1 Total assets went from EUR 12 million in 2018 to EUR 26 million in 2023.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2018 and 2023

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Financials · fiscal year 2023, full schema

Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€2.6m▲ 1.1%
2022 · -€2.6m
Working capital
€3.0m▲ 631%
2022 · €411,777
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.

Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).

Every figure with its change against the fiscal year before
favourable unfavourable
Line20192020202120222023
Operating result€489,571▼ 27.0%€391,776▼ 20.0%-€839,323-€1.5m▼ 75.6%-€35,854▲ 97.6%
Net result-€349,529-€390,174below the sector's middle half▼ 11.6%-€1.6mbelow the sector's middle half▼ 318%-€2.6mbelow the sector's middle half▼ 58.3%-€2.6mbelow the sector's middle half▲ 1.1%
Equity€2.3m▼ 13.4%€1.9mwithin the sector's middle half▼ 17.2%€241,396within the sector's middle half▼ 87.1%-€2.3mbelow the sector's middle half-€4.9mbelow the sector's middle half▼ 109%
Total assets€14.5m▲ 18.3%€14.8mabove the sector's middle half▲ 2.2%€23.4mabove the sector's middle half▲ 58.2%€23.2mabove the sector's middle half▼ 1.1%€25.8mabove the sector's middle half▲ 11.5%
Debt€12.2m▲ 26.9%€12.9m▲ 5.9%€23.2m▲ 79.3%€25.5m▲ 10.0%€30.7m▲ 20.5%
Working capital€2.6m▲ 135%€1.3mabove the sector's middle half▼ 48.3%€1.3mabove the sector's middle half▼ 4.7%€411,777within the sector's middle half▼ 67.9%€3.0mabove the sector's middle half▲ 631%
Solvency15.6%▼ 5.7pp12.6%within the sector's middle half▼ 3.0pp1.0%below the sector's middle half▼ 11.6pp-10.1%below the sector's middle half▼ 11.1pp-19.0%below the sector's middle half▼ 8.8pp
Current ratio7.35▲ 1.852.20within the sector's middle half▼ 5.161.83within the sector's middle half▼ 0.361.29within the sector's middle half▼ 0.552.42within the sector's middle half▲ 1.14
Return on assets (ROA)-2.4%▼ 3.5pp-2.6%below the sector's middle half▼ 0.2pp-7.0%below the sector's middle half▼ 4.3pp-11.2%below the sector's middle half▼ 4.2pp-9.9%below the sector's middle half▲ 1.3pp
above within below the middle half (P25 to P75) of NACE 68, Real estate activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
-€3.0m-€2.0m-€1.0m€0Operating result 2019: €489,571€489,571Net result 2019: -€349,529-€349,529Operating result 2020: €391,776€391,776Net result 2020: -€390,174-€390,174Operating result 2021: -€839,323-€839,323Net result 2021: -€1.6m-€1.6mOperating result 2022: -€1.5m-€1.5mNet result 2022: -€2.6m-€2.6mOperating result 2023: -€35,854-€35,854Net result 2023: -€2.6m-€2.6m20192020202120222023-€3m-€2m-€1m€0Operating result 2021: -€839,323-€839,000Net result 2021: -€1.6m-€1.6mOperating result 2022: -€1.5m-€1.5mNet result 2022: -€2.6m-€2.6mOperating result 2023: -€35,854-€35,900Net result 2023: -€2.6m-€2.6m202120222023
The operating result stays negative: a loss of €35,854 in 2023 against €1.5m in 2022; the loss shrinks.
Balance-sheet composition
2023 in colour, 2022 as the grey bar beneath
Assets €25.8m
Fixed assets €20.7m ▼ 2.9%
Current assets €5.1m ▲ 178%
Key figures and ratios
2023 value · change against 2022
EBITDA
€576,017▲
2022 · -€878,083
Cash flow
-€1.9m▲
2022 · -€2.0m
Debt to equity
-6.27▲
2022 · -10.89
Interest coverage
0.22▲
2022 · -0.66
Debt ≤ 1 year
€2.1m▲
2022 · €1.4m
Debt > 1 year
€27.7m▲
2022 · €23.8m
Income taxes
€758
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
Filed annual accounts As filed with the NBB · 2023 against 2022 · 43 lines
Balance sheet Code20222023
Assets
Total assets20/58€23.2m€25.8m▲
Fixed assets21/28€21.3m€20.7m▼
Tangible fixed assets22/27€21.3m€20.7m▼
Land and buildings22€21.0m€20.4m▼
Furniture and vehicles24€349,346€285,644▼
Current assets29/58€1.8m€5.1m▲
Amounts receivable within one year40/41€1.1m€992,550▼
Trade receivables40€224,033€247,198▲
Other amounts receivable41€922,821€745,353▼
Cash at bank and in hand54/58€662,669€4.1m▲
Deferred charges and accrued income490/1€35,338€71,532▲
Equity and liabilities
Total equity and liabilities10/49€23.2m€25.8m▲
Equity10/15-€2.3m-€4.9m▼
Contributions10/11€2.6m€2.6m=
Profit (loss) carried forward14-€4.9m-€7.5m▼
Amounts payable17/49€25.5m€30.7m▲
Amounts payable after more than one year17€23.8m€27.7m▲
Financial debts170/4€23.8m€27.7m▲
Amounts payable within one year42/48€1.4m€2.1m▲
Current portion of amounts payable after more than one year42-€1.0m
Trade debts44€1.0m€329,666▼
Suppliers440/4€1.0m€329,666▼
Advances received on contracts in progress46€398,368€600,002▲
Taxes, remuneration and social security45€4,193€172,506▲
Taxes450/3€4,193€172,506▲
Other amounts payable47/48-€10,964
Accrued charges and deferred income492/3€331,972€943,837▲
Income statement Code20222023
Non-recurring operating income76A€767-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€595,982€611,871▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€29,726€29,726=
Other operating charges640/8€342,865€438,972▲
Gross operating margin9900-€505,492€1.0m▲
Operating profit (loss)9901-€1.5m-€35,854▲
Financial income75/76B€209,928€132,251▼
Recurring financial income75€209,928€132,251▼
Financial charges65/66B€1.3m€2.7m▲
Recurring financial charges65€1.3m€2.7m▲
Profit (loss) for the period before taxes9903-€2.6m-€2.6m▲
Income taxes67/77-€758
Profit (loss) for the period9904-€2.6m-€2.6m▲
Profit (loss) for the period to be appropriated9905-€2.6m-€2.6m▲
Appropriation of the result
Profit (loss) to be appropriated9906-€4.9m-€7.5m▼
Profit (loss) brought forward from the previous period14P-€2.4m-€4.9m▼

The notes to these accounts (15 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20192020202120222023Change
Non-recurring operating income76A---€767--
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€232,837€232,837€399,930€595,982€611,871▲ 2.7%
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4--€16,614€29,726€29,726=
Other operating charges640/8--€333,718€342,865€438,972▲ 28.0%
Gross operating margin9900€1.1m€953,994-€89,060-€505,492€1.0m▲ 307%
Operating profit (loss)9901€489,571€391,776-€839,323-€1.5m-€35,854▲ 97.6%
Financial income75/76B--€158€209,928€132,251▼ 37.0%
Recurring financial income75€3€284€158€209,928€132,251▼ 37.0%
Non-recurring financial income76B--€158---
Financial charges65/66B--€793,506€1.3m€2.7m▲ 101%
Recurring financial charges65€839,103€782,234€793,506€1.3m€2.7m▲ 101%
Profit (loss) for the period before taxes9903-€349,529-€390,174-€1.6m-€2.6m-€2.6m▲ 1.1%
Income taxes67/77----€758-
Profit (loss) for the period9904-€349,529-€390,174-€1.6m-€2.6m-€2.6m▲ 1.1%
Profit (loss) for the period to be appropriated9905-€349,529-€390,174-€1.6m-€2.6m-€2.6m▲ 1.1%
Line20192020202120222023Change
Assets
Total assets20/58€14.5m€14.8m€23.4m€23.2m€25.8m▲ 11.5%
Fixed assets21/28€11.5m€12.3m€20.6m€21.3m€20.7m▼ 2.9%
Tangible fixed assets22/27€11.5m€12.3m€20.6m€21.3m€20.7m▼ 2.9%
Land and buildings22--€20.4m€21.0m€20.4m▼ 2.6%
Furniture and vehicles24--€193,318€349,346€285,644▼ 18.2%
Current assets29/58€3.0m€2.5m€2.8m€1.8m€5.1m▲ 178%
Amounts receivable within one year40/41€177,063€379,130€586,988€1.1m€992,550▼ 13.5%
Trade receivables40--€203,441€224,033€247,198▲ 10.3%
Other amounts receivable41--€383,547€922,821€745,353▼ 19.2%
Cash at bank and in hand54/58€2.8m€2.1m€2.2m€662,669€4.1m▲ 513%
Deferred charges and accrued income490/1--€22,972€35,338€71,532▲ 102%
Equity and liabilities
Total equity and liabilities10/49€14.5m€14.8m€23.4m€23.2m€25.8m▲ 11.5%
Equity10/15€2.3m€1.9m€241,396-€2.3m-€4.9m▼ 109%
Contributions10/11€2.6m-€2.6m€2.6m€2.6m=
Profit (loss) carried forward14-€335,761-€725,934-€2.4m-€4.9m-€7.5m▼ 51.7%
Amounts payable17/49€12.2m€12.9m€23.2m€25.5m€30.7m▲ 20.5%
Amounts payable after more than one year17€11.7m€11.7m€21.5m€23.8m€27.7m▲ 16.5%
Financial debts170/4--€21.5m€23.8m€27.7m▲ 16.5%
Amounts payable within one year42/48€410,017€1.1m€1.5m€1.4m€2.1m▲ 47.5%
Current portion of amounts payable after more than one year42----€1.0m-
Trade debts44€207,926€1.0m€1.4m€1.0m€329,666▼ 68.0%
Suppliers440/4--€1.4m€1.0m€329,666▼ 68.0%
Advances received on contracts in progress46--€94,415€398,368€600,002▲ 50.6%
Taxes, remuneration and social security45--€40,317€4,193€172,506▲ 4,015%
Taxes450/3--€40,317€4,193€172,506▲ 4,015%
Other amounts payable47/48----€10,964-
Accrued charges and deferred income492/3--€145,009€331,972€943,837▲ 184%
Line20192020202120222023Change
Profit (loss) for the period9904-€349,529-€390,174-€1.6m-€2.6m-€2.6m▲ 1.1%
+ Depreciation and write-downs630€232,837€232,837€399,930€595,982€611,871▲ 2.7%
Operating cash flow (approximation)-€116,691-€157,336-€1.2m-€2.0m-€1.9m▲ 2.2%
Investment in fixed assets (approximation)--€1.1m-€8.7m-€1.3m€1,172▲ 100%
Change in cash--€737,395€149,935-€1.6m€3.4m▲ 319%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

2026
03-06
State Gazette act Statutes amendment · Legal-form change · Resignations & appointments · Miscellaneous
Board composition · Registered office clause · Power of attorney14 facts ▸
  • General meeting, 01-06-2026
  • Board composition, HARRIS Emily (director)
  • Board composition, FELDMAN Julian (director)
  • Board composition, GOLDBERG Michaël (director)
  • Board composition, KOVACS Michael (director)
  • Registered office clause, Boulevard du Souverain 100, 3. Siège
  • Power of attorney
  • Power of attorney, Stijn JOYE
  • Power of attorney, Stijn JOYE
  • Power of attorney
  • Legal-form conversion, société à responsabilité limitée
  • Capital conversion, compte de capitaux propres statutairement indisponible
  • +2 further facts in this act
2024
25-09
NBB filing Annual accounts filed
fiscal year 2023 · full schema · 56 days late
2023
15-07
NBB filing Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial Weakest financial yearnet -€2.6m
Net result drops to -€2.6m, the lowest in the series; recovery starts the following year.
01-08
NBB filing Annual accounts filed
fiscal year 2021 · full schema · 1 day late
2021
25-06
NBB filing Annual accounts filed
fiscal year 2020 · full schema
2020
09-07
NBB filing Annual accounts filed
fiscal year 2019 · full schema
2019
12-07
NBB filing Annual accounts filed
fiscal year 2018 · full schema
2018
27-04
NBB filing Annual accounts filed
fiscal year 2017 · full schema
2017
20-07
NBB filing Annual accounts filed
fiscal year 2016 · full schema
2016
12-05
NBB filing Annual accounts filed
fiscal year 2015 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 12 acts read
About the unread acts

Of the 12 Belgian State Gazette acts we know for this company, 1 has been read. The other 11 have not been read yet: what they contain is neither established nor disproved here.

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Directors · office · real estate

Directors
12 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Watermaal-Bosvoorde · 1 establishment unit since 2015
seat establishment approximate The establishment unit on the map
Ground area
1.8 ha
Building footprint
5,835 m²
Volume, LiDAR
82,834 m³
2 parcels, Brussels · tallest building 31.9 m, ±9 floors. Linked by address, not a title deed.
75 companies at this address See who is registered here
1 establishment unit
Arts 44
Kunstlaan 44, 1000 BrusselReal estate activities
since 20152.244.265.145
2 parcels
Brussels 2 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
21017D0290/00E003 Brussels 1.7 ha 1 · 4,778 m² 28.2 m · 3 fl.
21805E0337/00H000 Brussels 1,055 m² 1 · 1,057 m² 31.9 m · 9 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.

Articles of association

Who signs
“Chaque administrateur est chargé de la gestion journalière de la société. Il peut la déléguer. ARTICLE SEIZE : REPRESENTATION - ACTES ET ACTIONS JUDICIAIRES La société est représentée dans les actes, y compris ceux où interviennent un fonctionnaire public ou un officier ministériel et en justice par…”
Full text

Chaque administrateur est chargé de la gestion journalière de la société. Il peut la déléguer. ARTICLE SEIZE : REPRESENTATION - ACTES ET ACTIONS JUDICIAIRES La société est représentée dans les actes, y compris ceux où interviennent un fonctionnaire public ou un officier ministériel et en justice par un administrateur A et un administrateur B agissant conjointement. Elle est en outre valablement engagée par des mandataires spéciaux dans les limites de leurs mandats. ARTICLE DIX-SEPT - CONTRÔLE Aussi longtemps que la société répond aux critères énoncés à l'article 1 :24 du Code des sociétés et des Associations, il n'y a pas lieu à nomination d'un commissaire, sauf décision contraire de l'assemblée générale. S’il n’a pas été nommé de commissaire, chaque actionnaire a individuellement les pouvoirs d'investigation et de contrôle du commissaire. Il peut se faire représenter ou assister par un expert-comptable. La rémunération de celui-ci incombe à la société s'il a été désigné avec son accord ou si cette rémunération a été mise à sa charge par décision judiciaire. En ce cas, les observations de l'expert-comptable sont communiquées à la société.

Annual meeting
Last Tuesday of April at 10:00
Purpose
L'achat, la vente, l'échange, la construction, la transformation, la mise en valeur, l'aménagement, l'exploitation, la location, la sous-location, la gestion, l'entretien, le…
Full purpose (5 activities)
  1. L'achat, la vente, l'échange, la construction, la transformation, la mise en valeur, l'aménagement, l'exploitation, la location, la sous-location, la gestion, l'entretien, le lotissement, la division horizontale et la mise en copropriété forcée, le leasing, la prospection, la promotion sous toutes ses formes; de tous biens immeubles et droits réels immobiliers.
  2. Elle peut faire toutes opérations commerciales, industrielles et financières, immobilières et mobilières, se rapportant directement ou indirectement à son objet ou susceptibles de favoriser son développement, à l'exception des opérations sur valeurs mobilières et immobilières réservées par la loi aux banques et aux sociétés de bourse.
  3. La société pourra exercer tous mandats relatifs à l'administration, à la gestion, à la direction, au contrôle et à la liquidation de toutes sociétés ou entreprises.
  4. La société peut, par voie d'apport en espèces ou en nature, de fusion, de souscription, de participation, d'intervention financière ou autrement, prendre des participations dans d'autres sociétés ou entreprises existantes ou à créer, que ce soit en Belgique ou à l'étranger, dont l'objet serait semblable ou analogue au sien ou de nature à favoriser son objet.
  5. Elle peut également consentir tous prêts ou garantir tous prêts consentis par des tiers, étant entendu que la société n'effectuera aucune activité dont l'exercice serait soumis à des dispositions légales ou réglementaires applicables aux établissements de crédits et/ou financiers.
Board rule
Vacance d'une place d'administrateur, QUATORZE : VACANCE
Durée qu'elle détermine, 4
Other statement
Tous les actes nécessaires ou utiles à l'accomplissement de l'objet, pouvoirs d'administration et gestion journalière
Composition et pouvoirs de l'assemblée générale, DIX-HUIT : COMPOSITION ET POUVOIRS
Admission à l'assemblée, VINGT-DEUX : ADMISSION À L'ASSEMBLÉE
Mandataire,actionnaire ou non,au moyen d'une procuration écrite, représentation aux assemblées générales
Liste des présences et bureau, VINGT-QUATRE : LISTE DES PRÉSENCES ET BUREAU
Procès-verbaux des assemblées générales, VINGT-SEPT : PROCÈS-VERBAUX DES ASSEMBLÉES GÉNÉRALES
Registered office clause
Région de Bruxelles-Capitale, sièges administratifs, succursales, agences, dépôts et comptoirs en Belgique et à l'étranger par simple décision de l’organe d’adm…

Structure & network

Connections & network

No current directors or connected companies found in the register.

Capital and shareholders

Capital over the years
  1. 03-06-2026 Converted to unavailable equity · 2,600,000 EUR

Recognitions · licences · registrations

Legal Entity Identifier

894500FDOMWZMC50FM89
no longer live in the LEI register

Similar companies · same sector, comparable size

Of 9,144 companies in sector 68201 we hold annual accounts for 6,775. 4,901 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
Founded30-07-2015
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
E-invoicing
Reachable via Peppol
Peppol ID 0208:0634735534

If you follow this company, Checked tells you the day it leaves the Peppol register.

Register as of 30 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.