Active BE 0597.969.168Private limited company

ClusteredArt

Aspergeveld 19 ·3150 Haacht, Belgium· 11 yrs active

Sector: Retail sale of solid, liquid and gaseous fuels, excluding motor fuels (47781)

Conclusion Checked

ClusteredArt has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €142k and a net result of €-97k. Equity is shrinking by ~2.5% per year across the filed fiscal years. Its solvency ranks better than 95% of 1433 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).

Based on the State Gazette, CBE and 4 annual accounts.

Key figures

Equity	€142k
Net result	€-97k
Better than sector	95%
Active	11 yrs

Financial profile 5 of 5 axes measured · computed by Checked

57 / 100

Mixed profile: strong on solvency, weaker on profitability.

All 5 axes are computed from data Checked has read.

Health 52

Profitability 0

Solvency 100

Growth 32

Stability 100

Bankruptcy probability (12 mo) Checked model v1 · free

0.9% Low

0%0,5%1,5%4%10%≥25%

How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 2 signals

Established

Founded in 2015, 11 years in business.

No legal incidents

No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.

Administrative Flags0 events

No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

Checked score FY 2025 · computed

52 / 100 Fair

050100

Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.

Indicative credit limit

€7k

estimate, not credit advice

Score history

93 2022

100 2023

86 2024

52 2025

purely financial, excl. current insolvency signals

Score components

Liquidity Current ratio 16.89 (≥ 1.5) +10

Quick ratio Quick ratio 16.89 (≥ 1.0) +5

Leverage Debt/equity 0.06 (< 1.0) +10

Profitability Negatieve ROE -68% -10

Interest coverage Interest coverage -188.2× (< 1.5×) -10

Profit trend Net profit down YoY -3

Computed by Checked from the NBB filing for FY 2025. Indicative, not credit advice.

Financial overview11 NBB filings

Annual accounts filed on 28-08-2026 with the NBB · fiscal year 2025 · micro schema

Operating resultNet result

Trajectory (indicative)

Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.

declining Equity: declining trend of ~2.5%/year over 4 fiscal years, indicative, assuming unchanged policy.

Solid line = filed figures · dashed = extended trend · area = indicative range.

How do we compute this?

The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.

The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.

A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).

Sector comparison

Fiscal year 2025 · NACE 47, Retail trade · compared within the same schema type (micro schema)

Metric	This company	Sector median	Position in the sector
Solvency	94.4%	23.5%	better than 95% of 1433 sector peers
Net result	€-97k	€7k	better than 5% of 1430 sector peers
Equity	€142k	€25k	better than 86% of 1435 sector peers
Gross operating margin	€81k	€34k	better than 71% of 1427 sector peers
Total assets	€150k	€132k	better than 54% of 1434 sector peers

EBITDA

€-65k

- 22-25

Net profit

€-97k

- 22-25

Cash flow

€-85k

- 22-25

Total assets

€150k

-48.5% 22-25

Equity

€142k

-48.9% 22-25

Working capital

€133k

-48.8% 22-25

Income taxes

€269

-96.2% 22-25

Dividends

€39k

- 22-25

Debt

€8k

-38.4% 22-25

Debt ≤ 1y

€8k

-38.4% 22-25

Current ratio

16.89

-16.0% 22-25

Quick ratio

16.89

-16.0% 22-25

Solvency

94.4%

-1.0% 22-25

Debt / equity

0.06

+20.6% 22-25

ROE

-68.1%

- 22-25

ROA

-64.3%

- 22-25

Interest coverage

-188.16

- 22-25

Figures by fiscal year and ratios

Change versus the prior fiscal year, coloured by direction (green = favourable).

Fiscal year	2025 Δ	2024 Δ	2023 Δ	2022 Δ
Deposit	micro schema	micro schema	micro schema	micro schema
Revenue	-	-	-	-
EBITDA	-	-58.0%	+55.2%	-
Net profit	-	-72.5%	+49.7%	-
Cash flow	-	-56.6%	+48.4%	-
Staff costs	-	-	-	-
Income taxes	-96.2%	-63.4%	+90.8%	-
Dividends	-	-	-	-
Total assets	-48.5%	+3.0%	+5.5%	-
Equity	-48.9%	+4.9%	+21.7%	-
Debt	-38.4%	-24.6%	-64.3%	-
of which ≤ 1y	-38.4%	-24.6%	-64.3%	-
of which > 1y	-	-	-	-
Working capital	-48.8%	+11.2%	+33.0%	-
Employees (FTE)	-	-	-	-

Ratios (computed)

	2025	2024	2023	2022
Current ratio	16.89	20.11	13.96	4.48
Quick ratio	16.89	20.11	13.96	4.48
Working capital ratio	88.5%	89.1%	82.6%	65.5%
Solvency	94.4%	95.3%	93.6%	81.2%
Debt / equity	0.06	0.05	0.07	0.23
Long-term debt ratio	-	-	-	-
Interest coverage	-188.16	120.19	710.78	87.02
Gross margin	-	-	-	-
Net margin	-	-	-	-
ROA	-64.3%	4.5%	16.7%	11.8%
ROE	-68.1%	4.7%	17.9%	14.5%
EBITDA margin	-	-	-	-
Days sales outstanding	-	-	-	-
Days payable outstanding	-	-	-	-
Inventory turnover	-	-	-	-
Days inventory (DSI)	-	-	-	-

Balance-sheet composition 2025

Assets

Fixed assets €9k · 6.0% Current assets €141k · 94.1%

Equity & liabilities

Equity €142k · 94.4% Debt €8k · 5.6%

Full annual accounts (22 line items)

Filed balance sheet and income statement, exactly as deposited with the NBB.

Line item	Code	2025	2024	2023	2022
Balance sheet, Assets
TOTAL ASSETS	20/58	€150k	€291k	€283k	€268k
Fixed assets	21/28	€9k	€18k	€31k	€42k
Tangible fixed assets	22/27	€9k	€18k	€31k	€42k
Current assets	29/58	€141k	€273k	€251k	€226k
Amounts receivable within one year	40/41	€83k	€221k	€187k	€188k
Cash & bank	54/58	€57k	€51k	€64k	€38k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€150k	€291k	€283k	€268k
Equity	10/15	€142k	€278k	€265k	€217k
Contributions / capital	10/11	€19k	€19k	€19k	€19k
Reserves	13	€123k	€259k	€246k	€199k
Accumulated profits (losses)	14	€0	-	-	-
Amounts payable	17/49	€8k	€14k	€18k	€50k
Amounts payable within one year	42/48	€8k	€14k	€18k	€50k
Trade debts payable within one year	44	€4k	€2k	€3k	€2k
Income statement
Gross operating margin	9900	€81k	€35k	€82k	€53k
Operating result	9901	€-76k	€20k	€67k	€42k
Financial income	75	€0	€20	€0	€23
Financial charges	65	€344	€283	€114	€600
Result before taxes	9903	€-96k	€20k	€67k	€42k
Income taxes	67/77	€269	€7k	€19k	€10k
Net result for the period	9904	€-97k	€13k	€47k	€32k
Result to be appropriated	9905	€-97k	€13k	€47k	€32k

Directors & mandates 2 directors

Current directors & mandates

Cloetens, Wouter
Director
State Gazette act 24303107 (03-01-2024)

Current
03-01-2024 → present
Peltomäki, Mira
Director
State Gazette act 24303107 (03-01-2024)

Current
03-01-2024 → present

Legal Structure

NACE primary	Retail sale of solid, liquid and gaseous fuels, excluding motor fuels(47781)
Legal form	Private limited company(610)
Incorporation	13-02-2015
Status	Active
Postal code	3150

Establishment units 1 location

ClusteredArt

Aspergeveld 19, 3150 HaachtRetail trade

since 20152.253.948.319

Real-estate footprint Source: CBE × cadastre

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
24033C0201/00A000	Flanders	2,562 m²	1 · 169 m²	8.2 m · 2 fl.

Methodology

via registered seat: 1

1 of 1 parcel with an exact address match; the rest are indicative.

Linked through address data, this is not proof of ownership.

Updates 11 events

All 14Financial 3Gazette 1Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

28-08

NBB filing Annual accounts filed

fiscal year 2025 · micro schema · 28 days late

2025

31-12

Financial Weakest financial yearnet €-97k ▼842%

Net result drops to €-97k, the lowest in the series.

30-09

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 61 days late

2024

27-09

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 58 days late

03-01

State Gazette act Director changes

Bernard Tuerlinckx

2023

31-12

Financial Highest result since 2022net €47k ▲49.7%

Operating result €67k, net result €47k, both a record.

31-12

Financial Liquidity triplescurrent ratio 13.96

Current ratio from 4.48 to 13.96; short-term debt falls from €50k to €18k.

03-10

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 64 days late

2022

20-12

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 142 days late

2021

27-10

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 88 days late

2020

11-11

NBB filing Annual accounts filed

fiscal year 2019 · micro schema · 103 days late

2019

02-10

NBB filing Annual accounts filed

fiscal year 2018 · micro schema · 63 days late

2018

27-09

NBB filing Annual accounts filed

fiscal year 2017 · micro schema · 58 days late

2017

30-12

NBB filing Annual accounts filed

fiscal year 2016 · micro schema · 152 days late

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Belgian State Gazette reading coverage 0 of 3 acts read

We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.

Belgisch Staatsblad, acts 1 acts

All acts · 1 updated 2 years ago

2024

03-01-2024 2 directors appointed Director changes·Bernard Tuerlinckx

Peltomäki, Mira, Bestuurder
Cloetens, Wouter, Bestuurder

Notary: Bernard Tuerlinckx · Haacht

Original publication ↗

Technical details

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Credit advice verdict per customer and amount

Company registry (CBE) Crossroads Bank

Activities

Retail sale of solid, liquid and gaseous fuels, excluding motor fuels47781Retail trade47990Other non-specialised retail sale47120Retail trade47910Holdings64200Activities of holding companies64210Business and other management consultancy70200Business consulting70220Arts creation and performing arts activities90032Visual arts creation90120

Names & trade names

Legal nameNL

ClusteredArt

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