Active BE 0894.304.267Public limited company

ARCEO ENGINEERING

Avenue Maurice-Destenay 13 ·4000 Liège, Belgium· 18 yrs active

Sector: NACE 24100 (24100)

Conclusion Checked

The computed 12-month bankruptcy probability of ARCEO ENGINEERING is 2.1% (moderate). The 2021 annual accounts show negative equity (€-3.63M) and a net result of €-199k. Equity is shrinking by ~88.7% per year across the filed fiscal years. The company has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals.

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

Key figures

Equity	€-3.63M
Net result	€-199k
Staff (FTE)	13.9
Active	18 yrs

Snowflake analysis 5 of 5 axes measured · computed by Checked

24 / 100

Fragile profile, watch health in particular.

All 5 axes are computed from data Checked has read.

Health 0

Profitability 9

Solvency 33

Growth 38

Stability 40

Bankruptcy probability (12 mo) Checked model v1 · free

2.1% Moderate

0%0,5%1,5%4%10%≥25%

Annual accounts: weaker financial profile +Higher-failure-rate sector +Long track record −

Statistical estimate based on public sources, not credit advice nor a finding of fact. How do we compute this?

Risk Assessment rule-based

0 / 100

Low risk

Trust signals 1 signals

Register: dissolution or liquidation

The KBO register records legal situation 012 for this company. This is today's state according to the register itself; the register carries no start date.

Administrative Flags 0 events

No administrative flags

Health barometer FY 2021 · computed

0 / 100 Critical

050100

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

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Computed by Checked from the NBB filing for FY 2021. Indicative, not credit advice.

Financial overview10 NBB filings

Annual accounts filed on 22-08-2023 with the NBB · fiscal year 2022 · volledig

RevenueOperating 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 ~88.7%/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).

Revenue

€3.28M

-62.7% -95% vs sector

EBITDA

€-188k

+97.5% far below sector median

Net profit

€-199k

+98.9% far below sector median

Cash flow

€-195k

+98.9% far below sector median

Total assets

€1.30M

-33.3% -80% vs sector

Equity

€-3.63M

-5.8% far below sector median

Working capital

€-2.41M

-219.6% far below sector median

Employees (FTE)

14

-52.2% -70% vs sector

Staff costs

€2.15M

- -18% vs sector

Income taxes

€154

-62.5% -100% vs sector

Debt

€3.71M

+39.1% -33% vs sector

Debt ≤ 1y

€3.71M

+39.1% -3% vs sector

Current ratio

0.35

-51.3% -78% vs sector

Quick ratio

0.35

-46.3% -65% vs sector

Solvency

-280.2%

-58.7% far below sector median

Debt / equity

-1.02

- far below sector median

ROE

5.5%

-99.0% far above sector median

ROA

-15.3%

+98.4% far below sector median

Net margin

-6.1%

+97.2% far below sector median

EBITDA margin

-5.7%

+93.3% far below sector median

Interest coverage

-48.78

+98.7% far below sector median

Figures by fiscal year

Highlight YoY changes (±10%)

Fiscal year	2021
Revenue	€3.28M
EBITDA	€-188k
Net profit	€-199k
Cash flow	€-195k
Staff costs	€2.15M
Income taxes	€154
Dividends	-
Total assets	€1.30M
Equity	€-3.63M
Debt	€3.71M
of which ≤ 1y	€3.71M
of which > 1y	-
Working capital	€-2.41M
Employees (FTE)	13.9

Ratios (computed)

	2021
Current ratio	0.35
Quick ratio	0.35
Working capital ratio	-186.2%
Solvency	-280.2%
Debt / equity	-1.02
Long-term debt ratio	-
Interest coverage	-48.78
Gross margin	49.4%
Net margin	-6.1%
ROA	-15.3%
ROE	5.5%
EBITDA margin	-5.7%
Days sales outstanding	108d
Days payable outstanding	460d
Inventory turnover	-
Days inventory (DSI)	-

Full annual accounts

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

Line item	Code	2021
Balance sheet, Assets
TOTAL ASSETS	20/58	€1.30M
Current assets	29/58	€1.30M
Amounts receivable within one year	40/41	€1.06M
Cash & bank	54/58	€238k
Balance sheet, Equity & liabilities
TOTAL EQUITY & LIABILITIES	10/49	€1.30M
Equity	10/15	€-3.63M
Contributions / capital	10/11	€15.41M
Accumulated profits (losses)	14	€-19.04M
Provisions & deferred taxes	16	€1.22M
Amounts payable	17/49	€3.71M
Amounts payable within one year	42/48	€3.71M
Trade debts payable within one year	44	€2.09M
Income statement
Turnover	70	€3.28M
Operating result	9901	€-191k
Financial income	75	€38
Financial charges	65	€7k
Result before taxes	9903	€-199k
Income taxes	67/77	€154
Net result for the period	9904	€-199k
Result to be appropriated	9905	€-199k

You're seeing the latest fiscal year only. Unlock 3 prior years (figures + ratios) with a paid plan. See plans →

Ratios computed by Checked.

Legal Structure

NACE primary	24100
Legal form	Public limited company(014)
Incorporation	19-12-2007
Status	Active
Postal code	4000

Establishment units 1 location

-

Rue Sompré 1, 4400 FlémalleVervaardiging van ijzer en staal en van ferrolegeringen

since 20082.231.678.901

Physical sites registered in the Crossroads Bank for Enterprises (CBE).

Real-estate footprint Source: CBE × cadastre

Parcels linked to this company through its CBE addresses (seat, establishment units, branches), cross-referenced with the cadastral parcel plan. This shows where the company operates, not a deeds register.

Wallonia 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
62083B0065/00L000	Wallonia	6,108 m²	1 · 99 m²	18.3 m · 4 fl.

Methodology

via establishment units: 1

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

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

Updates 18 events

A single timeline of everything that happened to this company, publications, insolvency and lifecycle events, administrative changes and filed annual accounts.

2023

22-08-2023

NBB filing Annual accounts filed

fiscal year 2022 · volledig

06-02-2023

State Gazette act Director changes

v3.2

2022

15-09-2022

State Gazette act Director changes

v3.2

27-07-2022

NBB filing Annual accounts filed

fiscal year 2021 · volledig

2021

12-07-2021

NBB filing Annual accounts filed

fiscal year 2020 · volledig

14-04-2021

State Gazette act Statutes amendment

v3.2

2020

01-10-2020

State Gazette act Director changes

v3.2

03-08-2020

NBB filing Annual accounts filed

fiscal year 2019 · volledig

2019

05-06-2019

NBB filing Annual accounts filed

fiscal year 2018 · volledig

2018

31-07-2018

NBB filing Annual accounts filed

fiscal year 2017 · volledig

2017

13-11-2017

State Gazette act Director changes

v3.2

12-07-2017

State Gazette act Director changes

v3.2

12-07-2017

State Gazette act Director changes

v3.2

02-06-2017

NBB filing Annual accounts filed

fiscal year 2016 · volledig

2016

06-06-2016

NBB filing Annual accounts filed

fiscal year 2015 · volledig

2015

25-06-2015

NBB filing Annual accounts filed

fiscal year 2014 · volledig

20-04-2015

State Gazette act Director changes

v3.2

Belgisch Staatsblad, acts 8 acts

All acts · 8 updated 3 years ago

2023

06-02-2023 Roman AYDOGDU appointed as liquidateur Director changes

Roman AYDOGDU, Liquidateur

Summary: v3.2

Original publication ↗

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2022

15-09-2022 1 director appointed, 1 resigning Director changes

Sébastien Durieux, Bestuurder
Renaud Witmeur, Bestuurder

Summary: v3.2

Original publication ↗

Technical details

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2021

14-04-2021 Articles of association amended Statutes amendment

Summary: v3.2

Original publication ↗

Technical details

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2020

01-10-2020 6 directors appointed Director changes

Renaud WITMEUR, Bestuurder
Florence VANDERTHOMMEN, Bestuurder
Philippe BUELEN, Bestuurder
Fabrice ORBAN, Bestuurder
LCA SPRL, Bestuurder
LEMANS SPRL, Bestuurder

Summary: v3.2

Original publication ↗

Technical details

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2017

13-11-2017 Eric DOMB resigns as director Director changes

Eric DOMB, Bestuurder

Summary: v3.2

Original publication ↗

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12-07-2017 Deloitte appointed as auditor Director changes

Deloitte, Auditor

Summary: v3.2

Original publication ↗

Technical details

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12-07-2017 Olivier GUTT resigns as director Director changes

Olivier GUTT, Bestuurder

Summary: v3.2

Original publication ↗

Technical details

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2015

20-04-2015 3 directors appointed, 2 resigning Director changes

Eric Domb, Administrator
Lemanos SPRL, Administrator
LCA SPRL, Administrator
Philippe Feltén, Administrator
Manie-Hélène Lambert, Administrator

Summary: v3.2

Original publication ↗

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Credit advice verdict per customer and amount

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Company registry (CBE) Crossroads Bank

Activities

Vervaardiging van ijzer en staal en van ferrolegeringen24100Vervaardiging van ijzer en staal en van ferrolegeringen24100Ingenieurs en aanverwante technische adviseurs, exclusief landmeters71121Activiteiten van ingenieurs en aanverwante technische adviseurs, exclusief landmeters-experts71121Overige zakelijke dienstverlening, n.e.g.82990Overige zakelijke dienstverlening, neg82990

Primary activity highlighted.

Names & trade names

Legal nameFR

ARCEO ENGINEERING

Registered office

Avenue Maurice-Destenay 13 bus 6

4000 Liège, Belgium

Official data from the Crossroads Bank for Enterprises (CBE). Available for every registered company.

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