D'ARTOIS
ActiveSummary
D'ARTOIS has been active since 1994 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€101,021) and a net result of €393. Equity is growing by ~5% per year across the filed fiscal years. Its solvency ranks better than 8% of 14462 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability69▲+55
Solvency0=
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 12.69 against 1.63 in 2024; short-term debt: 7% and cash: 2.2% of total assets), but equity is negative.
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Signals
Six 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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% 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
-44.3%
Return on assets
0.2%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 8% of 14462 sector peers (2025).
NBB · sector comparisonPosition among 14462 sector peers
Solvency
better than 8%
← weakest
strongest →
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 · 10 filingsDeviation from the deadline
2025
4 d early
2024
66 d early
2023
5 d early
2022
15 d late
2021
3 d early
2020
1 d early
2019
2 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 9 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% 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 27 July (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
01-10-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€101,021▲ 0.4%
2024 · -€101,414
Total assets
€227,838▼ 3.2%
2024 · €235,310
Net result
€393
2024 · -€8,243
Working capital
€185,103▲ 138%
2024 · €77,787
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 68, Real estate 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
Operating result-€25,095€9,979€43,096▲ 332%-€7,889€809
Net result-€25,913below the sector's middle half€8,917within the sector's middle half€41,076above the sector's middle half▲ 361%-€8,243within the sector's middle half€393within the sector's middle half
Equity-€143,164below the sector's middle half▼ 22.1%-€134,247below the sector's middle half▲ 6.2%-€93,171below the sector's middle half▲ 30.6%-€101,414below the sector's middle half▼ 8.8%-€101,021below the sector's middle half▲ 0.4%
Total assets€192,403within the sector's middle half▼ 19.5%€198,276within the sector's middle half▲ 3.1%€241,625within the sector's middle half▲ 21.9%€235,310within the sector's middle half▼ 2.6%€227,838within the sector's middle half▼ 3.2%
Debt€335,567▼ 5.8%€332,524▼ 0.9%€334,796▲ 0.7%€336,724▲ 0.6%€328,859▼ 2.3%
Working capital€38,343within the sector's middle half▼ 46.9%€44,086within the sector's middle half▲ 15.0%€92,642within the sector's middle half▲ 110%€77,787within the sector's middle half▼ 16.0%€185,103above the sector's middle half▲ 138%
Solvency-74.4%below the sector's middle half▼ 25.4pp-67.7%below the sector's middle half▲ 6.7pp-38.6%below the sector's middle half▲ 29.1pp-43.1%below the sector's middle half▼ 4.5pp-44.3%below the sector's middle half▼ 1.2pp
Current ratio1.31within the sector's middle half▼ 0.191.37within the sector's middle half▲ 0.061.76within the sector's middle half▲ 0.391.63within the sector's middle half▼ 0.1312.69above the sector's middle half▲ 11.06
Return on assets (ROA)-13.5%below the sector's middle half▼ 19.4pp4.5%within the sector's middle half▲ 18.0pp17.0%above the sector's middle half▲ 12.5pp-3.5%below the sector's middle half▼ 20.5pp0.2%within the sector's middle half▲ 3.7pp
above
within
below
the middle half (P25 to P75) of NACE 68, Real estate 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 returns to profit in 2025: €809 after a loss of €7,889 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €227,838
Fixed assets
€26,895 ▼ 20.5%
Current assets
€200,944 ▼ 0.3%
Equity and liabilities
Equity-€101,021
Debt€328,859
Equity is negative: debt (€328,859) exceeds the balance-sheet total (€227,838).
Key figures and ratios
EBITDA
€7,731▲
2024 · -€7,095
Cash flow
€7,316▲
2024 · -€7,448
Quick ratio
0.38▲
2024 · 0.13
Interest coverage
174.80▲
2024 · -21.44
Debt ≤ 1 year
€15,841▼
2024 · €123,706
Debt > 1 year
€313,018▲
2024 · €213,018
Income taxes
€372▲
2024 · €23
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,448 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 92% are still going.
- Micro
- 20 years or older
- negative equity
- a profit under 5% of the balance sheet
2.5%
went bankrupt
4.8%
stopped otherwise
92%
still going
A further 0.6% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,341 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 1,448 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €1,017 | €0 | €3,988 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €556 | €3,740 | €7,479 | €794 | €6,922 | ▲ 771% |
| Other operating charges640/8 | €4,915 | €3,634 | €2,572 | €2,278 | €2,415 | ▲ 6.0% |
| Non-recurring operating charges66A | €12,605 | €0 | - | - | - | - |
| Gross operating margin9900 | -€7,020 | €17,352 | €53,147 | -€4,817 | €10,147 | ▲ 311% |
| Operating profit (loss)9901 | -€25,095 | €9,979 | €43,096 | -€7,889 | €809 | ▲ 110% |
| Financial charges65/66B | €480 | €500 | €1,369 | €331 | €44 | ▼ 86.6% |
| Recurring financial charges65 | €480 | €500 | €1,369 | €331 | €44 | ▼ 86.6% |
| Profit (loss) for the period before taxes9903 | -€25,576 | €9,479 | €41,727 | -€8,220 | €765 | ▲ 109% |
| Income taxes67/77 | €337 | €562 | €651 | €23 | €372 | ▲ 1,542% |
| Profit (loss) for the period9904 | -€25,913 | €8,917 | €41,076 | -€8,243 | €393 | ▲ 105% |
| Profit (loss) for the period to be appropriated9905 | -€25,913 | €8,917 | €41,076 | -€8,243 | €393 | ▲ 105% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €192,403 | €198,276 | €241,625 | €235,310 | €227,838 | ▼ 3.2% |
| Fixed assets21/28 | €31,511 | €34,684 | €27,205 | €33,817 | €26,895 | ▼ 20.5% |
| Tangible fixed assets22/27 | €30,483 | €33,657 | €26,178 | €33,817 | €26,895 | ▼ 20.5% |
| Furniture and vehicles24 | €30,483 | €33,657 | €26,178 | €33,817 | €26,895 | ▼ 20.5% |
| Financial fixed assets28 | €1,028 | €1,028 | €1,028 | €0 | - | - |
| Current assets29/58 | €160,892 | €163,592 | €214,420 | €201,494 | €200,944 | ▼ 0.3% |
| Stocks and contracts in progress3 | €134,750 | €143,521 | €144,310 | €185,257 | €194,917 | ▲ 5.2% |
| Stocks30/36 | €134,750 | €143,521 | €144,310 | €185,257 | €194,917 | ▲ 5.2% |
| Amounts receivable within one year40/41 | €20,397 | €9,898 | €5,183 | €9,708 | €322 | ▼ 96.7% |
| Trade receivables40 | €20,397 | €9,616 | €4,500 | €8,737 | €0 | ▼ 100% |
| Other amounts receivable41 | - | €282 | €683 | €971 | €322 | ▼ 66.8% |
| Cash at bank and in hand54/58 | €5,745 | €9,575 | €64,101 | €5,926 | €5,100 | ▼ 13.9% |
| Deferred charges and accrued income490/1 | - | €598 | €827 | €603 | €604 | ▲ 0.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €192,403 | €198,276 | €241,625 | €235,310 | €227,838 | ▼ 3.2% |
| Equity10/15 | -€143,164 | -€134,247 | -€93,171 | -€101,414 | -€101,021 | ▲ 0.4% |
| Contributions10/11 | €81,000 | €81,000 | €81,000 | €81,000 | €81,000 | = |
| Profit (loss) carried forward14 | -€224,164 | -€215,247 | -€174,171 | -€182,414 | -€182,021 | ▲ 0.2% |
| Amounts payable17/49 | €335,567 | €332,524 | €334,796 | €336,724 | €328,859 | ▼ 2.3% |
| Amounts payable after more than one year17 | €213,018 | €213,018 | €213,018 | €213,018 | €313,018 | ▲ 46.9% |
| Other amounts payable178/9 | €213,018 | €213,018 | €213,018 | €213,018 | €313,018 | ▲ 46.9% |
| Amounts payable within one year42/48 | €122,549 | €119,506 | €121,778 | €123,706 | €15,841 | ▼ 87.2% |
| Trade debts44 | €4,889 | €409 | €1,968 | €14,358 | €2,195 | ▼ 84.7% |
| Suppliers440/4 | €4,889 | €409 | €1,968 | €14,358 | €2,195 | ▼ 84.7% |
| Taxes, remuneration and social security45 | €3,298 | €300 | €325 | €0 | €372 | - |
| Taxes450/3 | €3,298 | €300 | €325 | €0 | €372 | - |
| Other amounts payable47/48 | €114,362 | €118,796 | €119,485 | €109,348 | €13,275 | ▼ 87.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€25,913 | €8,917 | €41,076 | -€8,243 | €393 | ▲ 105% |
| + Depreciation and write-downs630 | €556 | €3,740 | €7,479 | €794 | €6,922 | ▲ 771% |
| Operating cash flow (approximation) | -€25,357 | €12,656 | €48,555 | -€7,448 | €7,316 | ▲ 198% |
| Investment in fixed assets (approximation) | - | -€6,913 | €0 | -€7,406 | €0 | ▲ 100% |
| Change in cash | - | €3,831 | €54,525 | -€58,175 | -€825 | ▲ 98.6% |
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
Back to profitnet €393
Net result €393 after one loss-making year.
31-12
Financial
Liquidity times 8current ratio 12.69
Current ratio from 1.63 to 12.69; short-term debt falls from €123,706 to €15,841.
26-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
26-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Highest result since 2018net €41,076 ▲361%
Operating result €43,096, net result €41,076, both a record.
15-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 15 days late
2022
31-12
Financial
Back to profitnet €8,917
Net result €8,917 after one loss-making year.
28-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Weakest financial yearnet -€25,913
Net result drops to -€25,913, the lowest in the series; recovery starts the following year.
30-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
29-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
2019
31-12
Financial
Back to profitnet €8,707
Net result €8,707 after one loss-making year.
05-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 5 days late
2018
23-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-07
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
No directors read yet: 0 of 1 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Izegem · 3 establishment units since 1994
Ground area
6,336 m²
Building footprint
907 m²
Volume, LiDAR
4,094 m³
3 parcels, Flanders · tallest building 7.1 m, ±2 floors. Linked by address, not a title deed.
3 establishment units
D'ARTOIS
since 19942.068.687.029
Lodewijk de Raetlaan 1, 8870 Izegem
since 19942.068.687.128
GAVERSTEEN
since 19942.068.687.227
3 parcels
Flanders
3
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 37322B0442/00F000 | Flanders | 4,329 m² | 1 · 570 m² | 7.1 m · 2 fl. |
| 36492A0275/00A000 | Flanders | 1,125 m² | 1 · 153 m² | 4.3 m · 1 fl. |
| 36494D0597/00S000 | Flanders | 882 m² | 1 · 184 m² | 5.4 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
3 of 3 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 7,321 companies in this sector we hold annual accounts for 5,390. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded30-09-1994
Fiscal year end31-12
Activities, NACEBEL 2025
43331Floor and wall tiling
68110Buying and selling of own real estate
46831Wholesale of construction materials, general range
47521Retail sale of hardware, building materials, paint and glass (general range)
E-invoicing
Reachable via Peppol
Peppol ID
0208:0453466981
Also
9925:BE0453466981
Registered
10-07-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 1 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.