C.ARAS
ActiveThe file of C.ARAS contains 2 historical bankruptcy publications, as published in the Belgian State Gazette.
Summary
The computed 12-month bankruptcy probability is 1.2% (low). The 2024 annual accounts show equity of €4,194 and a net result of €2,968. Equity is shrinking by ~25% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2025. Its solvency ranks better than 10% of 36386 sector peers (fiscal year 2024).
Checked score
Score 2024
Axes · tick = 2023
Profitability41▼-8
Solvency27▲+2
Growth32▼-26
Track record85
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Liquidity tight (current ratio 1.02 against 1.0 in 2023; short-term debt: 98% and cash: 1.3% of total assets), and 98% of the assets are financed with debt.
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Signals
Seven 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 · 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 2024Solvency, return and age of the figures
Solvency
2%
Return on assets
1.4%
Age of the figures
21 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 36386 sector peers (2024).
NBB · sector comparisonPosition among 36386 sector peers
Solvency
better than 10%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 12-06-2025, 49 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
49 d early
2023
64 d late
2022
60 d early
2021
562 d late
2020
91 d late
2019
146 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 126 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 (1)
History
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Financials · fiscal year 2024, micro schema
Equity
€4,194▲ 242%
2023 · €1,226
Total assets
€210,549▼ 37.4%
2023 · €336,290
Net result
€2,968▼ 81.5%
2023 · €16,079
Working capital
€3,188▲ 242%
2023 · €932
Trend over the years
Click a name to add, emphasise or remove a line.Band: 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.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€15,510-€9,008▲ 41.9%-€60,914▼ 576%€18,351€18,493▲ 0.8%
Net result-€18,086below the sector's middle half▼ 415%-€5,459below the sector's middle half▲ 69.8%-€61,366below the sector's middle half▼ 1,024%€16,079within the sector's middle half€2,968within the sector's middle half▼ 81.5%
Equity€50,572within the sector's middle half▼ 16.6%€45,113within the sector's middle half▼ 10.8%-€16,253below the sector's middle half€1,226below the sector's middle half€4,194below the sector's middle half▲ 242%
Total assets€111,845within the sector's middle half▼ 21.2%€262,637within the sector's middle half▲ 135%€96,121within the sector's middle half▼ 63.4%€336,290above the sector's middle half▲ 250%€210,549within the sector's middle half▼ 37.4%
Debt€61,273▼ 24.6%€217,524▲ 255%€112,374▼ 48.3%€335,063▲ 198%€206,355▼ 38.4%
Working capital€49,914within the sector's middle half▼ 13.7%€45,138within the sector's middle half▼ 9.6%-€16,220below the sector's middle half€932below the sector's middle half€3,188below the sector's middle half▲ 242%
Solvency45.2%within the sector's middle half▲ 2.5pp17.2%below the sector's middle half▼ 28.0pp-16.9%below the sector's middle half▼ 34.1pp0.4%below the sector's middle half▲ 17.3pp2.0%below the sector's middle half▲ 1.6pp
Current ratio1.81within the sector's middle half▲ 0.101.21within the sector's middle half▼ 0.610.86below the sector's middle half▼ 0.351.00below the sector's middle half▲ 0.151.02below the sector's middle half▲ 0.01
Return on assets (ROA)-16.2%below the sector's middle half▼ 13.7pp-2.1%below the sector's middle half▲ 14.1pp-63.8%below the sector's middle half▼ 61.8pp4.8%within the sector's middle half▲ 68.6pp1.4%within the sector's middle half▼ 3.4pp
Staff (FTE)
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
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 1% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €210,549
Fixed assets
€1,006 ▲ 125%
Current assets
€209,543 ▼ 37.6%
Equity and liabilities €210,549
Equity
€4,194 ▲ 242%
Debt
€206,355 ▼ 38.4%
Debt's share of the balance-sheet total falls from 99.6% to 98.0%. Equity is higher and debt is lower.
Key figures and ratios
Quick ratio
0.70▼
2023 · 0.89
Debt to equity
49.20
ROE
70.8%
Debt ≤ 1 year
€206,355▼
2023 · €334,911
Income taxes
€14,882▲
2023 · €1,310
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,377 companies that looked in July 2024 the way this one looks now, 2.0% went bankrupt within 24 months and 96% are still going.
- Micro
- 10 to 20 years old
- solvency under 10%
- a profit under 5% of the balance sheet
2.0%
went bankrupt
1.6%
stopped otherwise
96%
still going
A further 0.7% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.2% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 1,377 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €4,029 | €60,456 | €15,316 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,192 | €658 | - | - | - | - |
| Other operating charges640/8 | - | €1,450 | €3,472 | €5,148 | €7,594 | ▲ 47.5% |
| Gross operating margin9900 | -€6,477 | -€2,871 | €3,014 | €38,815 | €26,088 | ▼ 32.8% |
| Operating profit (loss)9901 | -€15,510 | -€9,008 | -€60,914 | €18,351 | €18,493 | ▲ 0.8% |
| Financial income75/76B | - | €4,153 | €1 | - | €0 | - |
| Recurring financial income75 | €2,912 | €4,153 | €1 | - | €0 | - |
| Financial charges65/66B | - | €605 | €453 | €962 | €644 | ▼ 33.1% |
| Recurring financial charges65 | €3,682 | €605 | €453 | €962 | €644 | ▼ 33.1% |
| Profit (loss) for the period before taxes9903 | -€17,708 | -€5,459 | -€61,366 | €17,389 | €17,850 | ▲ 2.7% |
| Income taxes67/77 | €378 | - | - | €1,310 | €14,882 | ▲ 1,036% |
| Profit (loss) for the period9904 | -€18,086 | -€5,459 | -€61,366 | €16,079 | €2,968 | ▼ 81.5% |
| Profit (loss) for the period to be appropriated9905 | -€18,086 | -€5,459 | -€61,366 | €16,079 | €2,968 | ▼ 81.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €111,845 | €262,637 | €96,121 | €336,290 | €210,549 | ▼ 37.4% |
| Fixed assets21/28 | €658 | - | - | €446 | €1,006 | ▲ 125% |
| Tangible fixed assets22/27 | €658 | - | - | - | €0 | - |
| Furniture and vehicles24 | - | - | - | - | €0 | - |
| Financial fixed assets28 | - | - | - | €446 | €1,006 | ▲ 125% |
| Current assets29/58 | €111,188 | €262,637 | €96,121 | €335,843 | €209,543 | ▼ 37.6% |
| Stocks and contracts in progress3 | - | €27,568 | €44,680 | €39,332 | €64,425 | ▲ 63.8% |
| Stocks30/36 | - | €27,568 | €44,680 | €39,332 | €64,425 | ▲ 63.8% |
| Amounts receivable within one year40/41 | €83,685 | €230,662 | €49,509 | €296,412 | €142,174 | ▼ 52.0% |
| Trade receivables40 | - | €165,684 | €49,500 | €296,412 | €142,174 | ▼ 52.0% |
| Other amounts receivable41 | - | €64,979 | €9 | - | - | - |
| Cash at bank and in hand54/58 | €23,601 | €43 | €275 | €100 | €2,819 | ▲ 2,729% |
| Deferred charges and accrued income490/1 | - | €4,364 | €1,656 | - | €124 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €111,845 | €262,637 | €96,121 | €336,290 | €210,549 | ▼ 37.4% |
| Equity10/15 | €50,572 | €45,113 | -€16,253 | €1,226 | €4,194 | ▲ 242% |
| Contributions10/11 | - | €17,200 | €17,200 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | - | - |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | - | - |
| Distributable reserves133 | - | - | - | - | €1,860 | - |
| Profit (loss) carried forward14 | €31,512 | €26,053 | -€35,313 | -€19,234 | -€16,266 | ▲ 15.4% |
| Amounts payable17/49 | €61,273 | €217,524 | €112,374 | €335,063 | €206,355 | ▼ 38.4% |
| Amounts payable within one year42/48 | €61,273 | €217,499 | €112,340 | €334,911 | €206,355 | ▼ 38.4% |
| Trade debts44 | €8,943 | €118,302 | €33,598 | €201,393 | €146,199 | ▼ 27.4% |
| Suppliers440/4 | - | €118,302 | €33,598 | €201,393 | €146,199 | ▼ 27.4% |
| Advances received on contracts in progress46 | - | €48,619 | - | €74,836 | - | - |
| Taxes, remuneration and social security45 | - | €16,682 | €28,598 | €25,811 | €43,511 | ▲ 68.6% |
| Taxes450/3 | - | €13,390 | €19,933 | €17,550 | €40,040 | ▲ 128% |
| Remuneration and social security454/9 | - | €3,293 | €8,665 | €8,261 | €3,471 | ▼ 58.0% |
| Other amounts payable47/48 | - | €33,896 | €50,144 | €32,871 | €16,645 | ▼ 49.4% |
| Accrued charges and deferred income492/3 | - | €25 | €33 | €153 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€18,086 | -€5,459 | -€61,366 | €16,079 | €2,968 | ▼ 81.5% |
| + Depreciation and write-downs630 | €2,192 | €658 | - | - | - | - |
| Operating cash flow (approximation) | -€15,894 | -€4,802 | -€61,366 | €16,079 | €2,968 | ▼ 81.5% |
| Investment in fixed assets (approximation) | - | - | - | - | -€560 | - |
| Change in cash | - | -€23,558 | €232 | -€175 | €2,720 | ▲ 1,650% |
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
2025
12-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
03-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 64 days late
18-03
Bankruptcy
Bankruptcy reversal
Tribunal de l’entreprise du Hainaut, division Charleroi · event 11-03-2024
16-02
Bankruptcy
Opening
Tribunal de l’entreprise du Hainaut, division Charleroi · event 12-02-2024
13-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 562 days late
2023
31-12
Financial
Back to profitnet €16,079
Net result €16,079 after 4 loss-making years.
01-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet -€61,366
Net result drops to -€61,366, the lowest in the series; recovery starts the following year.
2021
30-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 91 days late
2020
24-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 146 days late
2019
11-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 72 days late
09-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 282 days late
2017
03-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 3 days late
2016
24-10
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 85 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts
We know of 8 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
8 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, Charleroi · 1 establishment unit since 2011
Ground area
900 m²
Building footprint
88 m²
Parcel 52040C0101/00R002, Wallonia. Linked by address, not a title deed.
1 establishment unit
C.ARAS
since 20112.374.927.115
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52040C0101/00R002 | Wallonia | 900 m² | 1 · 87 m² | - |
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.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | ISABELLE VAUSORT RUE PAUL JANSON 48,
6061 MONTIGNIES-SUR-SAMBRE- .
Date provisoire de cessation de paiement : 12/02/2024 |
12-02-2024 → 11-03-2024 |
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Of 20,025 companies in sector 43320 we hold annual accounts for 9,138. 2,724 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
Founded31-10-2011
Fiscal year end31-12
Activities, NACEBEL 2025
43320Joinery installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0840720378
Also
9925:BE0840720378
Registered
22-08-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.