ARTSIDE DEVELOPMENT
ActiveSummary
ARTSIDE DEVELOPMENT has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €3.5m and a net result of -€5,950. Equity is growing by ~38.8% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.6% (low).
Financials · fiscal year 2025, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€5,950
2024 · €575,638
Working capital
-€23.1m▼ 11.3%
2024 · -€20.8m
Trend over the years
2021 to 2025, 5 fiscal years 2018 to 2025, 8 fiscal years
The operating result stays negative: a loss of €43,233 in 2025 against €41,976 in 2024; the loss grows.
What the company sold each fiscal year and what was left of it. A loss stands below the zero line.
Operating result-€0.04m
2025
Net result-€0.006m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€27.2m
2025
Equity€3.5m
2025
Debt€23.7m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€23.1m
2025
Point at or tap a year, or use the arrow keys on the chart, for the exact figures; the table below gives them all.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€0.06m--€0.06m▼ 13.0%-€0.07m▼ 3.0%-€0.07m▲ 1.9%-€0.02m▲ 70.7%-€0.05m▼ 142%-€0.04m▲ 9.7%-€0.04m▼ 3.0%
Net result-€0.06m--€0.06m▼ 7.6%-€0.07m▼ 11.0%€0.9m€2.4m▲ 172%€0.1m▼ 94.8%€0.6m▲ 368%-€0.006m
Equity-€0.3m--€0.3m▼ 22.7%-€0.4m▼ 20.5%€0.5m€2.8m▲ 490%€3.0m▲ 4.3%€3.5m▲ 19.4%€3.5m▼ 0.2%
Total assets€12.4m-€12.7m▲ 1.9%€14.5m▲ 13.9%€19.6m▲ 35.8%€16.3m▼ 17.0%€20.2m▲ 23.9%€24.9m▲ 23.2%€27.2m▲ 9.4%
Debt€12.7m-€13.0m▲ 2.3%€14.8m▲ 14.1%€19.1m▲ 29.0%€13.5m▼ 29.8%€17.2m▲ 28.0%€21.3m▲ 23.8%€23.7m▲ 11.0%
Working capital-€11.3m--€12.0m▼ 6.4%-€13.9m▼ 15.3%-€16.7m▼ 20.4%-€10.3m▲ 38.1%-€15.0m▼ 45.5%-€20.8m▼ 38.0%-€23.1m▼ 11.3%
Why a figure moved sharply
- 2023 Net result -95% on 2022. The accounts now follow the micro schema, last year the full schema.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €27.2m
Fixed assets
€26.7m ▲ 9.7%
Current assets
€551,308 =
Equity and liabilities €27.2m
Equity
€3.5m ▼ 0.2%
Debt
€23.7m ▲ 11.0%
Debt's share of the balance-sheet total rises from 85.8% to 87.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€3,273▼
2024 · -€2,016
Cash flow
€34,010▼
2024 · €615,598
Current ratio
0.02▼
2024 · 0.03
Debt to equity
6.70▲
2024 · 6.02
ROE
-0.2%▼
2024 · 16.3%
ROA
0.0%▼
2024 · 2.3%
Interest coverage
-0.03▼
2024 · -0.02
Debt ≤ 1 year
€23.7m▲
2024 · €21.3m
Income taxes
€12,380▼
2024 · €28,529
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.04m | €0.06m | €0.06m | €0.06m | €0.04m | €0.04m | €0.04m | €0.04m | = |
| Other operating charges640/8 | - | - | - | €0.002m | €0.002m | €0.002m | €0.001m | €0.001m | ▲ 2.0% |
| Gross operating margin9900 | -€0.02m | -€0.007m | -€0.01m | -€0.008m | €0.02m | -€0.005m | -€0.001m | -€0.002m | ▼ 119% |
| Operating profit (loss)9901 | -€0.06m | -€0.06m | -€0.07m | -€0.07m | -€0.02m | -€0.05m | -€0.04m | -€0.04m | ▼ 3.0% |
| Financial income75/76B | - | - | - | €0.9m | €2.5m | €0.3m | €0.8m | €0.2m | ▼ 78.4% |
| Recurring financial income75 | €0.003m | €0.007m | €0.002m | €0.001m | €0.1m | €0.3m | €0.8m | €0.2m | ▼ 78.4% |
| Non-recurring financial income76B | - | - | - | €0.9m | €2.4m | - | - | - | - |
| Financial charges65/66B | - | - | - | €412 | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 10.1% |
| Recurring financial charges65 | €475 | €425 | €249 | €412 | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 10.1% |
| Profit (loss) for the period before taxes9903 | -€0.06m | -€0.06m | -€0.06m | €0.9m | €2.4m | €0.1m | €0.6m | €0.006m | ▼ 98.9% |
| Income taxes67/77 | - | €0.001m | €0.001m | -€248 | €0.001m | €453 | €0.03m | €0.01m | ▼ 56.6% |
| Profit (loss) for the period9904 | -€0.06m | -€0.06m | -€0.07m | €0.9m | €2.4m | €0.1m | €0.6m | -€0.006m | ▼ 101% |
| Profit (loss) for the period to be appropriated9905 | -€0.06m | -€0.06m | -€0.07m | €0.9m | €2.4m | €0.1m | €0.6m | -€0.006m | ▼ 101% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €12.4m | €12.7m | €14.5m | €19.6m | €16.3m | €20.2m | €24.9m | €27.2m | ▲ 9.4% |
| Fixed assets21/28 | €11.1m | €11.7m | €13.5m | €17.2m | €13.2m | €18.0m | €24.3m | €26.7m | ▲ 9.7% |
| Tangible fixed assets22/27 | €1.2m | €1.2m | €1.1m | €1.1m | €1.0m | €1.0m | €0.9m | €0.9m | ▼ 4.3% |
| Land and buildings22 | - | - | - | €1.1m | €1.0m | €1.0m | €0.9m | €0.9m | ▼ 4.3% |
| Furniture and vehicles24 | - | - | - | €0.007m | - | - | - | - | - |
| Financial fixed assets28 | €9.8m | €10.5m | €12.4m | €16.1m | €12.2m | €17.0m | €23.4m | €25.8m | ▲ 10.2% |
| Current assets29/58 | €1.4m | €1.0m | €1.0m | €2.4m | €3.1m | €2.2m | €0.6m | €0.6m | = |
| Amounts receivable within one year40/41 | €0.9m | €1.0m | €1.0m | €2.4m | €3.1m | €2.1m | €0.6m | €0.6m | = |
| Trade receivables40 | - | - | - | €0.3m | - | - | - | - | - |
| Other amounts receivable41 | - | - | - | €2.1m | €3.1m | €2.1m | €0.6m | €0.6m | = |
| Cash at bank and in hand54/58 | €0.5m | €0.006m | €0.002m | €0.02m | €0.001m | €0.08m | €46 | €33 | ▼ 29.7% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | - | €135 | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €12.4m | €12.7m | €14.5m | €19.6m | €16.3m | €20.2m | €24.9m | €27.2m | ▲ 9.4% |
| Equity10/15 | -€0.3m | -€0.3m | -€0.4m | €0.5m | €2.8m | €3.0m | €3.5m | €3.5m | ▼ 0.2% |
| Contributions10/11 | €5.1m | €5.1m | - | €5.1m | €5.1m | €5.1m | €5.1m | €5.1m | = |
| Reserves13 | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Profit (loss) carried forward14 | -€5.3m | -€5.4m | -€5.4m | -€4.6m | -€2.2m | -€2.1m | -€1.5m | -€1.5m | ▼ 0.4% |
| Amounts payable17/49 | €12.7m | €13.0m | €14.8m | €19.1m | €13.5m | €17.2m | €21.3m | €23.7m | ▲ 11.0% |
| Amounts payable within one year42/48 | €12.7m | €13.0m | €14.8m | €19.1m | €13.5m | €17.2m | €21.3m | €23.7m | ▲ 11.0% |
| Trade debts44 | €0.1m | €0.1m | - | €71 | €0.001m | €0.002m | €0.002m | €0.003m | ▲ 43.1% |
| Suppliers440/4 | - | - | - | €71 | €0.001m | €0.002m | €0.002m | €0.003m | ▲ 43.1% |
| Taxes, remuneration and social security45 | - | - | - | €452 | €0.001m | - | €0.03m | €0.04m | ▲ 43.4% |
| Taxes450/3 | - | - | - | €452 | €0.001m | - | €0.03m | €0.04m | ▲ 43.4% |
| Other amounts payable47/48 | - | - | - | €19.1m | €13.4m | €17.2m | €21.3m | €23.6m | ▲ 11.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€0.06m | -€0.06m | -€0.07m | €0.9m | €2.4m | €0.1m | €0.6m | -€0.006m | ▼ 101% |
| + Depreciation and write-downs630 | €0.04m | €0.06m | €0.06m | €0.06m | €0.04m | €0.04m | €0.04m | €0.04m | = |
| Operating cash flow (approximation) | -€0.01m | -€0.004m | -€0.01m | €0.9m | €2.4m | €0.2m | €0.6m | €0.03m | ▼ 94.5% |
| Investment in fixed assets (approximation) | - | -€0.7m | -€1.8m | -€3.8m | €4.0m | -€4.9m | -€6.3m | -€2.4m | ▲ 62.4% |
| Change in cash | - | -€0.5m | -€0.004m | €0.02m | -€0.02m | €0.08m | -€0.08m | -€14 | ▲ 100.0% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.