ARV
ActiveSummary
ARV has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €85,147 and a net result of €29,667. Equity is growing by ~31.1% per year across the filed fiscal years. Its solvency ranks better than 93% of 28374 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+12
Solvency100=
Growth85=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €7,000 at 30 days acceptable
Liquidity ample (current ratio 7.3 against 2.23 in 2024; short-term debt: 10.9% and cash: 47.7% of total assets), and 10.9% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← 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
89.1%
Return on assets
31.1%
Age of the figures
9 mo
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 27-07-2026, 4 days ahead of the deadline.
NBB · 9 filingsDeviation from the deadline
2025
4 d early
2024
3 d early
2023
91 d late
2022
60 d late
2021
21 d late
2020
30 d late
2019
148 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 49 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% 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 21 August (4 of the last 5 filed years within 39 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€76,565▲ 131%
2020 · €33,093
EBIT margin
3.6%▲ 1.9pp
2020 · 1.7%
Net result
€29,667▲ 162%
2024 · €11,308
Working capital
€65,358▲ 197%
2024 · €21,979
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 43, Specialised construction 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
Line20212022202320242025
Turnover€76,565▲ 131%
Operating result€2,723▲ 386%€9,352▲ 243%€22,492▲ 141%€21,645▼ 3.8%€30,421▲ 40.5%
Net result€1,833within the sector's middle half▲ 66.5%€7,249within the sector's middle half▲ 295%€16,414within the sector's middle half▲ 126%€11,308within the sector's middle half▼ 31.1%€29,667above the sector's middle half▲ 162%
EBIT margin3.6%▲ 1.9pp
Equity€20,509within the sector's middle half▲ 9.8%€27,757within the sector's middle half▲ 35.3%€44,172within the sector's middle half▲ 59.1%€55,480within the sector's middle half▲ 25.6%€85,147within the sector's middle half▲ 53.5%
Total assets€25,445below the sector's middle half▲ 14.0%€41,071below the sector's middle half▲ 61.4%€64,829below the sector's middle half▲ 57.8%€73,296within the sector's middle half▲ 13.1%€95,514within the sector's middle half▲ 30.3%
Debt€4,936▲ 35.2%€13,314▲ 170%€20,657▲ 55.2%€17,816▼ 13.8%€10,368▼ 41.8%
Working capital€19,875within the sector's middle half▲ 17.1%€14,753within the sector's middle half▼ 25.8%-€4,586below the sector's middle half€21,979within the sector's middle half€65,358within the sector's middle half▲ 197%
Solvency80.6%above the sector's middle half▼ 3.0pp67.6%above the sector's middle half▼ 13.0pp68.1%above the sector's middle half▲ 0.6pp75.7%above the sector's middle half▲ 7.6pp89.1%above the sector's middle half▲ 13.5pp
Current ratio5.03above the sector's middle half▼ 0.622.11within the sector's middle half▼ 2.920.78below the sector's middle half▼ 1.332.23within the sector's middle half▲ 1.467.30above the sector's middle half▲ 5.07
Return on assets (ROA)7.2%within the sector's middle half▲ 2.3pp17.6%above the sector's middle half▲ 10.4pp25.3%above the sector's middle half▲ 7.7pp15.4%within the sector's middle half▼ 9.9pp31.1%above the sector's middle half▲ 15.6pp
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, 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 41% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €95,514
Fixed assets
€19,788 ▼ 40.9%
Current assets
€75,726 ▲ 90.3%
Equity and liabilities €95,514
Equity
€85,147 ▲ 53.5%
Debt
€10,368 ▼ 41.8%
Debt's share of the balance-sheet total falls from 24.3% to 10.9%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€47,321▲
2024 · €38,028
Cash flow
€46,566▲
2024 · €27,690
Debt to equity
0.12▼
2024 · 0.32
ROE
34.8%▲
2024 · 20.4%
Interest coverage
27.12▲
2024 · 6.08
Debt ≤ 1 year
€10,368▼
2024 · €17,816
Income taxes
€0▼
2024 · €4,575
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 26,975 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 95% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
1.6%
went bankrupt
3.4%
stopped otherwise
95%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.9% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 26,975 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 |
|---|---|---|---|---|---|---|
| Turnover70 | €76,565 | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €71,493 | - | - | - | - | - |
| Remuneration, social security and pensions62 | €783 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,064 | €1,223 | €4,773 | €16,383 | €16,899 | ▲ 3.2% |
| Other operating charges640/8 | €502 | €319 | €1,576 | €1,680 | €2,051 | ▲ 22.1% |
| Gross operating margin9900 | €5,072 | €10,894 | €28,841 | €39,707 | €49,372 | ▲ 24.3% |
| Operating profit (loss)9901 | €2,723 | €9,352 | €22,492 | €21,645 | €30,421 | ▲ 40.5% |
| Financial income75/76B | €424 | €23 | €241 | €495 | €990 | ▲ 100% |
| Recurring financial income75 | €424 | €23 | €241 | €495 | €990 | ▲ 100% |
| Financial charges65/66B | €81 | €132 | €126 | €6,257 | €1,745 | ▼ 72.1% |
| Recurring financial charges65 | €81 | €132 | €126 | €6,257 | €1,745 | ▼ 72.1% |
| Profit (loss) for the period before taxes9903 | €3,066 | €9,243 | €22,606 | €15,883 | €29,667 | ▲ 86.8% |
| Income taxes67/77 | €1,234 | €1,994 | €6,192 | €4,575 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €1,833 | €7,249 | €16,414 | €11,308 | €29,667 | ▲ 162% |
| Profit (loss) for the period to be appropriated9905 | €1,833 | €7,249 | €16,414 | €11,308 | €29,667 | ▲ 162% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €25,445 | €41,071 | €64,829 | €73,296 | €95,514 | ▲ 30.3% |
| Fixed assets21/28 | €634 | €13,005 | €48,758 | €33,500 | €19,788 | ▼ 40.9% |
| Tangible fixed assets22/27 | €634 | €13,005 | €48,758 | €33,500 | €19,788 | ▼ 40.9% |
| Plant, machinery and equipment23 | €634 | €317 | - | - | €1,833 | - |
| Furniture and vehicles24 | - | €12,688 | €48,758 | €33,500 | €17,955 | ▼ 46.4% |
| Current assets29/58 | €24,811 | €28,066 | €16,071 | €39,795 | €75,726 | ▲ 90.3% |
| Amounts receivable within one year40/41 | €11,768 | €9,158 | €12,949 | €27,839 | €29,891 | ▲ 7.4% |
| Trade receivables40 | €7,729 | €8,429 | €11,953 | €15,687 | €9,203 | ▼ 41.3% |
| Other amounts receivable41 | €4,039 | €729 | €996 | €12,152 | €20,687 | ▲ 70.2% |
| Cash at bank and in hand54/58 | €13,043 | €18,908 | €2,392 | €11,563 | €45,549 | ▲ 294% |
| Deferred charges and accrued income490/1 | - | - | €730 | €394 | €286 | ▼ 27.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €25,445 | €41,071 | €64,829 | €73,296 | €95,514 | ▲ 30.3% |
| Equity10/15 | €20,509 | €27,757 | €44,172 | €55,480 | €85,147 | ▲ 53.5% |
| Contributions10/11 | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €1,860 | €1,860 | €29,860 | €43,000 | €72,500 | ▲ 68.6% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | - | - | - | - |
| Distributable reserves133 | - | - | €29,860 | €43,000 | €72,500 | ▲ 68.6% |
| Profit (loss) carried forward14 | €6,249 | €13,497 | €1,912 | €80 | €247 | ▲ 210% |
| Amounts payable17/49 | €4,936 | €13,314 | €20,657 | €17,816 | €10,368 | ▼ 41.8% |
| Amounts payable within one year42/48 | €4,936 | €13,314 | €20,657 | €17,816 | €10,368 | ▼ 41.8% |
| Trade debts44 | €3,954 | €10,660 | €11,272 | €7,011 | €7,596 | ▲ 8.3% |
| Suppliers440/4 | €3,954 | €10,660 | €11,272 | €7,011 | €7,596 | ▲ 8.3% |
| Taxes, remuneration and social security45 | €982 | €2,654 | €9,385 | €10,805 | €2,771 | ▼ 74.4% |
| Taxes450/3 | €982 | €2,654 | €9,385 | €10,805 | €2,771 | ▼ 74.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,833 | €7,249 | €16,414 | €11,308 | €29,667 | ▲ 162% |
| + Depreciation and write-downs630 | €1,064 | €1,223 | €4,773 | €16,383 | €16,899 | ▲ 3.2% |
| Operating cash flow (approximation) | €2,897 | €8,472 | €21,187 | €27,690 | €46,566 | ▲ 68.2% |
| Investment in fixed assets (approximation) | - | -€13,594 | -€40,526 | -€1,125 | -€3,187 | ▼ 183% |
| Change in cash | - | €5,866 | -€16,517 | €9,171 | €33,987 | ▲ 271% |
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
27-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €29,667 ▲162%
Operating result €30,421, net result €29,667, both a record.
31-12
Financial
Liquidity triplescurrent ratio 7.30
Current ratio from 2.23 to 7.30; short-term debt falls from €17,816 to €10,368.
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Liquidity triplescurrent ratio 2.23
Current ratio from 0.78 to 2.23; short-term debt falls from €20,657 to €17,816.
30-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 91 days late
2023
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 60 days late
2022
21-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 21 days late
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
31-12
Financial
Liquidity doublescurrent ratio 5.65
Current ratio from 2.42 to 5.65; short-term debt falls from €10,456 to €3,652.
26-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 148 days late
2019
31-12
Financial
Back to profitnet €6,072
Net result €6,072 after one loss-making year.
30-12
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 152 days late
2018
20-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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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, Hasselt · 1 establishment unit since 2016
Ground area
242 m²
Building footprint
173 m²
Volume, LiDAR
1,634 m³
Parcel 71028B0530/00H005, Flanders · tallest building 11.4 m, ±3 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
ARV
since 20162.260.229.860
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71028B0530/00H005 | Flanders | 241 m² | 1 · 173 m² | 11.4 m · 3 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.
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Of 11,128 companies in sector 43910 we hold annual accounts for 5,493. 4,807 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
Founded23-11-2016
Fiscal year end31-12
Activities, NACEBEL 2025
43910Bricklaying and masonry work
68121Development of residential building projects
43221Plumbing work
43310Plastering work
43320Joinery installation
49410Freight transport by road
E-invoicing
Reachable via Peppol
Peppol ID
0208:0666627253
Also
9925:BE0666627253
Registered
20-03-2026
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.