b-ART
ActiveSummary
b-ART has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €70,803 and a net result of -€1,353. Equity is growing by ~8.8% per year across the filed fiscal years. Its solvency ranks better than 60% of 9559 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability65▼-10
Solvency89▲+7
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €5,000 at 30 days acceptable
Liquidity ample (current ratio 2.47 against 2.51 in 2024; short-term debt: 19.9% and cash: 7.7% of total assets), and 35.8% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 71
Relative position
BE, all sectors
reference
Architectural and engineering activities; technical testing and analysis (NACE 71)
about 56% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
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 · 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 2025Solvency, return and age of the figures
Solvency
64.2%
Return on assets
-1.2%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 26-03-2026, 35 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
35 d early
2024
20 d early
2023
26 d early
2022
18 d early
2021
30 d early
2020
1 d early
2019
27 d early
← 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 22 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 33% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 5 April (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today30-09-2026 close30-04-2027 deadline
History
Go further with this company
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2025, micro schema
Equity
€70,803▼ 1.9%
2024 · €72,156
Total assets
€110,346▼ 12.3%
2024 · €125,853
Net result
-€1,353
2024 · €5,998
Working capital
€32,305▼ 4.4%
2024 · €33,777
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, 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-€3,874€7,977€18,534▲ 132%€12,101▼ 34.7%€1,364▼ 88.7%
Net result-€3,268below the sector's middle half€7,249within the sector's middle half€13,045within the sector's middle half▲ 79.9%€5,998within the sector's middle half▼ 54.0%-€1,353below the sector's middle half
Equity€45,865within the sector's middle half▼ 6.7%€53,114within the sector's middle half▲ 15.8%€66,159within the sector's middle half▲ 24.6%€72,156within the sector's middle half▲ 9.1%€70,803within the sector's middle half▼ 1.9%
Total assets€57,845below the sector's middle half▼ 10.2%€62,235below the sector's middle half▲ 7.6%€73,468within the sector's middle half▲ 18.1%€125,853within the sector's middle half▲ 71.3%€110,346within the sector's middle half▼ 12.3%
Debt€11,980▼ 21.5%€9,121▼ 23.9%€7,309▼ 19.9%€53,697▲ 635%€39,543▼ 26.4%
Working capital€44,742within the sector's middle half▼ 2.4%€51,716within the sector's middle half▲ 15.6%€58,145within the sector's middle half▲ 12.4%€33,777within the sector's middle half▼ 41.9%€32,305within the sector's middle half▼ 4.4%
Solvency79.3%above the sector's middle half▲ 3.0pp85.3%above the sector's middle half▲ 6.1pp90.1%above the sector's middle half▲ 4.7pp57.3%within the sector's middle half▼ 32.7pp64.2%within the sector's middle half▲ 6.8pp
Current ratio4.73above the sector's middle half▲ 0.736.67above the sector's middle half▲ 1.948.95above the sector's middle half▲ 2.282.51within the sector's middle half▼ 6.452.47within the sector's middle half▼ 0.04
Return on assets (ROA)-5.6%below the sector's middle half▼ 17.4pp11.6%within the sector's middle half▲ 17.3pp17.8%within the sector's middle half▲ 6.1pp4.8%within the sector's middle half▼ 13.0pp-1.2%below the sector's middle half▼ 6.0pp
above
within
below
the middle half (P25 to P75) of NACE 71, Architectural and engineering activities; technical testing and analysis, 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 has fallen two years in a row; 2025 is 89% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €110,346
Fixed assets
€56,036 ▼ 19.6%
Current assets
€54,310 ▼ 3.3%
Equity and liabilities €110,346
Equity
€70,803 ▼ 1.9%
Debt
€39,543 ▼ 26.4%
Debt's share of the balance-sheet total falls from 42.7% to 35.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
€17,273▼
2024 · €27,069
Cash flow
€14,555▼
2024 · €20,966
Debt to equity
0.56▼
2024 · 0.74
ROE
-1.9%▼
2024 · 8.3%
Interest coverage
5.73▼
2024 · 6.85
Debt ≤ 1 year
€22,005▼
2024 · €22,399
Debt > 1 year
€17,538▼
2024 · €31,298
Income taxes
€856▼
2024 · €3,549
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.7%
went bankrupt
8.6%
stopped otherwise
90%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.2% 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 497,338 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% | 1.9% |
| 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 12,321 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 | €1,962 | €339 | €1,118 | €14,968 | €15,908 | ▲ 6.3% |
| Other operating charges640/8 | - | €423 | €566 | €2,168 | €1,899 | ▼ 12.4% |
| Gross operating margin9900 | -€915 | €8,739 | €20,217 | €29,237 | €19,172 | ▼ 34.4% |
| Operating profit (loss)9901 | -€3,874 | €7,977 | €18,534 | €12,101 | €1,364 | ▼ 88.7% |
| Financial income75/76B | - | €1,660 | €1,437 | €1,398 | €1,154 | ▼ 17.5% |
| Recurring financial income75 | €1,440 | €1,660 | €1,437 | €1,398 | €1,154 | ▼ 17.5% |
| Financial charges65/66B | - | €517 | €134 | €3,952 | €3,016 | ▼ 23.7% |
| Recurring financial charges65 | €506 | €517 | €134 | €3,952 | €3,016 | ▼ 23.7% |
| Profit (loss) for the period before taxes9903 | -€2,939 | €9,119 | €19,837 | €9,546 | -€498 | ▼ 105% |
| Income taxes67/77 | €329 | €1,870 | €6,793 | €3,549 | €856 | ▼ 75.9% |
| Profit (loss) for the period9904 | -€3,268 | €7,249 | €13,045 | €5,998 | -€1,353 | ▼ 123% |
| Profit (loss) for the period to be appropriated9905 | -€3,268 | €7,249 | €13,045 | €5,998 | -€1,353 | ▼ 123% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €57,845 | €62,235 | €73,468 | €125,853 | €110,346 | ▼ 12.3% |
| Fixed assets21/28 | €1,122 | €1,397 | €8,014 | €69,677 | €56,036 | ▼ 19.6% |
| Tangible fixed assets22/27 | €1,009 | €1,284 | €7,901 | €69,564 | €55,923 | ▼ 19.6% |
| Land and buildings22 | - | - | €1,431 | €17,133 | €15,232 | ▼ 11.1% |
| Plant, machinery and equipment23 | - | €405 | €72 | - | - | - |
| Furniture and vehicles24 | - | €879 | €6,398 | €6,829 | €6,321 | ▼ 7.4% |
| Leasing and similar rights25 | - | - | - | €45,602 | €34,370 | ▼ 24.6% |
| Financial fixed assets28 | €113 | €113 | €113 | €113 | €113 | = |
| Current assets29/58 | €56,723 | €60,837 | €65,454 | €56,176 | €54,310 | ▼ 3.3% |
| Amounts receivable after more than one year29 | - | €55,000 | €41,250 | €27,500 | €27,500 | = |
| Other amounts receivable291 | - | €55,000 | €41,250 | €27,500 | €27,500 | = |
| Amounts receivable within one year40/41 | €50 | €1,672 | €21,584 | €6,062 | €17,192 | ▲ 184% |
| Trade receivables40 | - | - | €14,136 | €48 | €1,863 | ▲ 3,766% |
| Other amounts receivable41 | - | €1,672 | €7,448 | €6,014 | €15,329 | ▲ 155% |
| Cash at bank and in hand54/58 | €1 | €3,540 | €993 | €18,910 | €8,491 | ▼ 55.1% |
| Deferred charges and accrued income490/1 | - | €625 | €1,627 | €3,704 | €1,126 | ▼ 69.6% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €57,845 | €62,235 | €73,468 | €125,853 | €110,346 | ▼ 12.3% |
| Equity10/15 | €45,865 | €53,114 | €66,159 | €72,156 | €70,803 | ▼ 1.9% |
| Contributions10/11 | - | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €96,000 | €96,000 | €46,159 | €52,156 | €52,156 | = |
| Non-distributable reserves130/1 | - | €2,000 | - | - | - | - |
| Reserves not available under the articles1311 | - | €2,000 | - | - | - | - |
| Tax-exempt reserves132 | - | €32,261 | €32,261 | €32,261 | €32,261 | = |
| Distributable reserves133 | - | €61,739 | €13,898 | €19,896 | €19,896 | = |
| Profit (loss) carried forward14 | -€70,135 | -€62,886 | - | - | -€1,353 | - |
| Amounts payable17/49 | €11,980 | €9,121 | €7,309 | €53,697 | €39,543 | ▼ 26.4% |
| Amounts payable after more than one year17 | - | - | - | €31,298 | €17,538 | ▼ 44.0% |
| Financial debts170/4 | - | - | - | €31,298 | €17,538 | ▼ 44.0% |
| Amounts payable within one year42/48 | €11,980 | €9,121 | €7,309 | €22,399 | €22,005 | ▼ 1.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €12,854 | €13,760 | ▲ 7.0% |
| Trade debts44 | €2,101 | €2,478 | €818 | €3,604 | €3,878 | ▲ 7.6% |
| Suppliers440/4 | - | €2,478 | €818 | €3,604 | €3,878 | ▲ 7.6% |
| Taxes, remuneration and social security45 | - | €6,643 | €6,492 | €5,941 | €4,367 | ▼ 26.5% |
| Taxes450/3 | - | €3,977 | €3,643 | €3,443 | €1,871 | ▼ 45.7% |
| Remuneration and social security454/9 | - | €2,666 | €2,849 | €2,498 | €2,495 | ▼ 0.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,268 | €7,249 | €13,045 | €5,998 | -€1,353 | ▼ 123% |
| + Depreciation and write-downs630 | €1,962 | €339 | €1,118 | €14,968 | €15,908 | ▲ 6.3% |
| Operating cash flow (approximation) | -€1,306 | €7,588 | €14,162 | €20,966 | €14,555 | ▼ 30.6% |
| Investment in fixed assets (approximation) | - | -€614 | -€7,734 | -€76,631 | -€2,267 | ▲ 97.0% |
| Change in cash | - | €3,539 | -€2,548 | €17,918 | -€10,419 | ▼ 158% |
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
04-08
State Gazette act
Auditor appointment · Permanent representative
Merger · Dissolution
28-05
State Gazette act
Board meeting · Merger
Board composition · Permanent representative
27-05
State Gazette act
Merger · Board composition
Permanent representative · Shareholding
26-03
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
10-04
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
04-04
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
30-09
Financial
Highest result since 2018net €13,045 ▲79.9%
Operating result €18,534, net result €13,045, both a record.
12-04
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
30-09
Financial
Back to profitnet €7,249
Net result €7,249 after one loss-making year.
31-03
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
29-04
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
30-09
Financial
Back to profitnet €7,542
Net result €7,542 after 2 loss-making years.
Show earlier events
03-04
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
30-09
Financial
Weakest financial yearnet -€7,605
Net result drops to -€7,605, the lowest in the series; recovery starts the following year.
28-03
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
30-03
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
27-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB 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, Gent · 1 establishment unit since 2003
Ground area
700 m²
Building footprint
170 m²
Volume, LiDAR
902 m³
Parcel 44017A1175/00G000, Flanders · tallest building 6.7 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
B-ART BVBA
since 20032.126.614.934
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44017A1175/00G000 | Flanders | 700 m² | 1 · 170 m² | 6.7 m · 2 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 3,924 companies in sector 71112 we hold annual accounts for 1,296. 1,080 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
Founded09-04-2003
Fiscal year end30-09
Trade name NL
B-safe
Activities, NACEBEL 2025
71112Activities of interior architects
31004Manufacture of dining room, living room, bedroom and bathroom furniture
82300Organisation of conventions and trade shows
E-invoicing
Reachable via Peppol
Peppol ID
0208:0479898194
Also
9925:BE0479898194
Registered
01-07-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.