MOARC
ActiveSummary
MOARC has been active since 2014 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €145k and a net result of €127k. Equity is growing by ~9.4% per year across the filed fiscal years. Its solvency ranks better than 70% of 14128 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100=
Solvency82▲+5
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €12k at 30 days acceptable
Liquidity ample (current ratio 2.29 against 2.12 in 2024; short-term debt: 39.5% and cash: 65% of total assets), and 43.2% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers 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 · 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
56.8%
Return on assets
49.6%
Age of the figures
9 mo
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
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 13-05-2026, 79 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
79 d early
2024
60 d late
2023
30 d late
2022
31 d late
2021
30 d late
2020
25 d late
2019
90 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€145k▲ 4.0%
2024 · €140k
2018: €84k
2019: €82k▼ -2.5% vs 2018lowest in 8 years
2020: €87k▲ +6.0% vs 2019
2021: €104k▲ +19.8% vs 2020
2022: €102k▼ -2.5% vs 2021
2023: €190k▲ +86.8% vs 2022highest in 8 years
2024: €140k▼ -26.6% vs 2023
2025: €145k▲ +4.0% vs 2024
2018 → 2025
Total assets
€255k▼ 5.2%
2024 · €269k
2018: €190k
2019: €173k▼ -8.9% vs 2018
2020: €158k▼ -8.8% vs 2019lowest in 8 years
2021: €160k▲ +1.0% vs 2020
2022: €203k▲ +26.8% vs 2021
2023: €229k▲ +13.2% vs 2022
2024: €269k▲ +17.6% vs 2023highest in 8 years
2025: €255k▼ -5.2% vs 2024
2018 → 2025
Net result
€127k▲ 4.6%
2024 · €121k
2018: €26klowest in 8 years
2019: €48k▲ +85.8% vs 2018
2020: €53k▲ +10.4% vs 2019
2021: €84k▲ +59.7% vs 2020
2022: €81k▼ -3.1% vs 2021
2023: €88k▲ +8.6% vs 2022
2024: €121k▲ +36.9% vs 2023
2025: €127k▲ +4.6% vs 2024highest in 8 years
2018 → 2025
Working capital
€130k▲ 2.2%
2024 · €127k
2018: €35k
2019: €28k▼ -21.8% vs 2018lowest in 8 years
2020: €40k▲ +44.8% vs 2019
2021: €66k▲ +64.7% vs 2020
2022: €76k▲ +15.7% vs 2021
2023: €176k▲ +130% vs 2022highest in 8 years
2024: €127k▼ -27.6% vs 2023
2025: €130k▲ +2.2% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€104k-€102k▼ 2.5%€190k▲ 86.8%€140k▼ 26.6%€145k▲ 4.0%
2021: €104k
2022: €102k▼ -2.5% vs 2021lowest in 5 years
2023: €190k▲ +86.8% vs 2022highest in 5 years
2024: €140k▼ -26.6% vs 2023
2025: €145k▲ +4.0% vs 2024
Operating result€109k-€106k▼ 2.8%€115k▲ 8.9%€160k▲ 39.6%€166k▲ 3.4%
2021: €109k
2022: €106k▼ -2.8% vs 2021lowest in 5 years
2023: €115k▲ +8.9% vs 2022
2024: €160k▲ +39.6% vs 2023
2025: €166k▲ +3.4% vs 2024highest in 5 years
Net result€84k-€81k▼ 3.1%€88k▲ 8.6%€121k▲ 36.9%€127k▲ 4.6%
2021: €84k
2022: €81k▼ -3.1% vs 2021lowest in 5 years
2023: €88k▲ +8.6% vs 2022
2024: €121k▲ +36.9% vs 2023
2025: €127k▲ +4.6% vs 2024highest in 5 years
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 three years in a row; 2025 is 3% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €255k
Fixed assets
€24k ▼ 12.8%
Current assets
€231k ▼ 4.3%
Equity and liabilities €255k
Equity
€145k ▲ 4.0%
Debt
€110k ▼ 15.0%
Debt's share of the balance-sheet total falls from 48.2% to 43.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€169k▲
2024 · €169k
Cash flow
€130k▲
2024 · €129k
Current ratio
2.29▲
2024 · 2.12
Quick ratio
2.23▲
2024 · 2.06
Debt to equity
0.76▼
2024 · 0.93
ROE
87.2%▲
2024 · 86.7%
ROA
49.6%▲
2024 · 44.9%
Interest coverage
236.43▲
2024 · 210.80
Debt ≤ 1 year
€101k▼
2024 · €114k
Debt > 1 year
€9k▼
2024 · €13k
Income taxes
€39k▼
2024 · €39k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 50 lines
Balance sheet
Code20242025
Assets
Total assets20/58€269k€255k▼
Fixed assets21/28€28k€24k▼
Intangible fixed assets21€1k€811▼
Tangible fixed assets22/27€26k€23k▼
Land and buildings22€22k€20k▼
Furniture and vehicles24€2k€1k▼
Other tangible fixed assets26€2k€2k=
Financial fixed assets28€375€375=
Current assets29/58€241k€231k▼
Stocks and contracts in progress3€7k€6k▼
Stocks30/36€7k€6k▼
Amounts receivable within one year40/41€55k€56k▲
Trade receivables40€55k€55k▼
Other amounts receivable41€144€2k▲
Cash at bank and in hand54/58€177k€166k▼
Deferred charges and accrued income490/1€2k€2k▲
Equity and liabilities
Total equity and liabilities10/49€269k€255k▼
Equity10/15€140k€145k▲
Contributions10/11€19k€19k=
Profit (loss) carried forward14€121k€127k▲
Amounts payable17/49€130k€110k▼
Amounts payable after more than one year17€13k€9k▼
Financial debts170/4€13k€9k▼
Amounts payable within one year42/48€114k€101k▼
Current portion of amounts payable after more than one year42€4k€4k▲
Trade debts44€2k€7k▲
Suppliers440/4€2k€7k▲
Advances received on contracts in progress46€240€270▲
Taxes, remuneration and social security45€22k€12k▼
Taxes450/3€22k€12k▼
Other amounts payable47/48€86k€77k▼
Accrued charges and deferred income492/3€3k€67▼
Income statement
Code20242025
Non-recurring operating income76A€1k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8k€4k▼
Other operating charges640/8€3k€3k▲
Gross operating margin9900€172k€173k▲
Operating profit (loss)9901€160k€166k▲
Financial income75/76B€16€0▼
Recurring financial income75€16€0▼
Financial charges65/66B€801€717▼
Recurring financial charges65€801€717▼
Profit (loss) for the period before taxes9903€160k€165k▲
Income taxes67/77€39k€39k▼
Profit (loss) for the period9904€121k€127k▲
Profit (loss) for the period to be appropriated9905€121k€127k▲
Appropriation of the result
Profit (loss) to be appropriated9906€291k€248k▼
Profit (loss) brought forward from the previous period14P€170k€121k▼
Transfer from equity791/2€2k-
Profit to be distributed694/7€172k€121k▼
Return on contributions (dividend)694€172k€121k▼
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €1k | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €16k | €16k | €16k | €8k | €4k | ▼ 57.3% |
| Other operating charges640/8 | €2k | €3k | €3k | €3k | €3k | ▲ 0.8% |
| Gross operating margin9900 | €127k | €124k | €134k | €172k | €173k | ▲ 0.4% |
| Operating profit (loss)9901 | €109k | €106k | €115k | €160k | €166k | ▲ 3.4% |
| Financial income75/76B | €47 | - | €208 | €16 | €0 | ▼ 99.9% |
| Recurring financial income75 | €47 | - | €208 | €16 | €0 | ▼ 99.9% |
| Financial charges65/66B | €1k | €1k | €972 | €801 | €717 | ▼ 10.5% |
| Recurring financial charges65 | €1k | €1k | €972 | €801 | €717 | ▼ 10.5% |
| Profit (loss) for the period before taxes9903 | €107k | €104k | €114k | €160k | €165k | ▲ 3.4% |
| Income taxes67/77 | €23k | €23k | €26k | €39k | €39k | ▼ 0.2% |
| Profit (loss) for the period9904 | €84k | €81k | €88k | €121k | €127k | ▲ 4.6% |
| Profit (loss) for the period to be appropriated9905 | €84k | €81k | €88k | €121k | €127k | ▲ 4.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €160k | €203k | €229k | €269k | €255k | ▼ 5.2% |
| Fixed assets21/28 | €64k | €48k | €33k | €28k | €24k | ▼ 12.8% |
| Intangible fixed assets21 | €30k | €17k | €6k | €1k | €811 | ▼ 28.9% |
| Tangible fixed assets22/27 | €35k | €31k | €27k | €26k | €23k | ▼ 12.2% |
| Land and buildings22 | €29k | €27k | €25k | €22k | €20k | ▼ 10.7% |
| Plant, machinery and equipment23 | €2k | €908 | €165 | - | - | - |
| Furniture and vehicles24 | €1k | €849 | €323 | €2k | €1k | ▼ 42.9% |
| Other tangible fixed assets26 | €2k | €2k | €2k | €2k | €2k | = |
| Financial fixed assets28 | €100 | €100 | €100 | €375 | €375 | = |
| Current assets29/58 | €95k | €154k | €196k | €241k | €231k | ▼ 4.3% |
| Stocks and contracts in progress3 | €2k | €2k | €4k | €7k | €6k | ▼ 8.2% |
| Stocks30/36 | €2k | €2k | €4k | €7k | €6k | ▼ 8.2% |
| Amounts receivable within one year40/41 | €42k | €46k | €55k | €55k | €56k | ▲ 1.7% |
| Trade receivables40 | €41k | €42k | €42k | €55k | €55k | ▼ 1.1% |
| Other amounts receivable41 | €857 | €4k | €13k | €144 | €2k | ▲ 1,063% |
| Cash at bank and in hand54/58 | €49k | €104k | €134k | €177k | €166k | ▼ 6.1% |
| Deferred charges and accrued income490/1 | €2k | €2k | €3k | €2k | €2k | ▲ 3.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €160k | €203k | €229k | €269k | €255k | ▼ 5.2% |
| Equity10/15 | €104k | €102k | €190k | €140k | €145k | ▲ 4.0% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €2k | €2k | €2k | - | - | - |
| Non-distributable reserves130/1 | €2k | €2k | €2k | - | - | - |
| Reserves not available under the articles1311 | €2k | €2k | €2k | - | - | - |
| Profit (loss) carried forward14 | €84k | €81k | €170k | €121k | €127k | ▲ 4.6% |
| Amounts payable17/49 | €55k | €101k | €39k | €130k | €110k | ▼ 15.0% |
| Amounts payable after more than one year17 | €23k | €20k | €17k | €13k | €9k | ▼ 28.1% |
| Financial debts170/4 | €23k | €20k | €17k | €13k | €9k | ▼ 28.1% |
| Amounts payable within one year42/48 | €29k | €78k | €20k | €114k | €101k | ▼ 11.6% |
| Current portion of amounts payable after more than one year42 | €3k | €3k | €3k | €4k | €4k | ▲ 3.4% |
| Trade debts44 | €2k | €1k | €6k | €2k | €7k | ▲ 213% |
| Suppliers440/4 | €2k | €1k | €6k | €2k | €7k | ▲ 213% |
| Advances received on contracts in progress46 | - | - | €120 | €240 | €270 | ▲ 12.5% |
| Taxes, remuneration and social security45 | €14k | €4k | €10k | €22k | €12k | ▼ 43.7% |
| Taxes450/3 | €14k | €4k | €10k | €22k | €12k | ▼ 43.7% |
| Other amounts payable47/48 | €11k | €69k | - | €86k | €77k | ▼ 10.1% |
| Accrued charges and deferred income492/3 | €3k | €3k | €3k | €3k | €67 | ▼ 97.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €84k | €81k | €88k | €121k | €127k | ▲ 4.6% |
| + Depreciation and write-downs630 | €16k | €16k | €16k | €8k | €4k | ▼ 57.3% |
| Operating cash flow (approximation) | €100k | €98k | €105k | €129k | €130k | ▲ 0.6% |
| Investment in fixed assets (approximation) | - | €0 | €-2k | €-3k | €0 | ▲ 100% |
| Change in cash | - | €55k | €30k | €43k | €-11k | ▼ 125% |
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
13-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
02-04
State Gazette act
Board meeting · Representation rule
Other statement · Power of attorney
02-04
State Gazette act
Board meeting · Director in office
Representation rule · Power of attorney
2025
31-12
Financial
Highest result since 2018net €127k ▲4.6%
Operating result €166k, net result €127k, both a record.
29-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 60 days late
21-05
State Gazette act
Board meeting · Board composition
Representation rule · Other statement
21-05
State Gazette act
Board meeting · Director in office
Representation rule · Power of attorney
2024
03-12
State Gazette act
Board meeting · General meeting
Director reappointment · Permanent representative
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
27-03
State Gazette act
Publication
2023
31-12
Financial
Liquidity times 5current ratio 9.90
Current ratio from 1.98 to 9.90; short-term debt falls from €78k to €20k.
31-12
Financial
Equity above €150kEq €190k ▲86.8%
6 profitable years in a row build equity to €190k.
Show earlier events
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
30-05
State Gazette act
General meeting · Director discharge
Auditor discharge · Auditor appointment
30-05
State Gazette act
General meeting · Director discharge
Auditor discharge · Auditor appointment
11-03
State Gazette act
Board meeting · Director appointment
Permanent representative · Power of attorney
2021
31-12
Financial
Equity above €100kEq €104k ▲19.8%
4 profitable years in a row build equity to €104k.
25-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 25 days late
2020
07-12
State Gazette act
Board meeting · Power of attorney
Permanent representative
07-12
State Gazette act
Board meeting · Power of attorney
Permanent representative
29-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 90 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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 2014
Ground area
117 m²
Building footprint
83 m²
Volume, LiDAR
801 m³
Parcel 44804D3181/00W004, Flanders · tallest building 13.5 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
MOARC
since 20142.231.990.982
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44804D3181/00W004 | Flanders | 117 m² | 1 · 83 m² | 13.4 m · 4 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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G & P
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Of 9,698 companies in sector 68121 we hold annual accounts for 7,384. 5,347 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
Founded15-05-2014
Fiscal year end31-12
Activities, NACEBEL 2025
68121Development of residential building projects
74111Design of textile patterns, clothing, jewellery, furniture and decorative items
Scores and ratios are computed by Checked and are not a credit decision.