ACTIVE

ARS

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Financial year 2025 · closed on 30/09/2025

Net result

-43,5 k €

-33.6% YoY

Gross margin

-22,5 k €

-100.2% YoY

Equity

-200,4 k €

-27.7% YoY

What does ARS do?

ARS is a Public limited company incorporated in 1978. Its registered office is in Gavere.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0418.990.213

Incorporation

27/12/1978

Legal form

Public limited company

Registered office

Populierkensweg 2
9890 Gavere · FlandreSee on map

Contributed capital

205 538,42 €

Latest accounts

30/09/2025

Joint committees (2)

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	-22,5 k €	-100%	-11,2 k €	+0.4%	-11,3 k €	+44.9%	-20,5 k €	-454%	5,8 k €	+143%	-13,6 k €	-302%	6,7 k €	+164%	-10,5 k €	+63.2%	-28,6 k €	+26.6%	-39,0 k €	-213%	34,5 k €	+306%	8,5 k €	-97.2%	299,5 k €	+6.4%	281,5 k €	-10.1%	313,3 k €	-2.7%	322,1 k €	+28.0%	251,6 k €	+21.8%	206,6 k €
EBITDA	-23,3 k €	-90.6%	-12,2 k €	-3.1%	-11,8 k €	+44.2%	-21,2 k €	-500%	5,3 k €	+139%	-13,6 k €	-337%	5,7 k €	+150%	-11,4 k €	+61.8%	-29,9 k €	+61.7%	-78,2 k €	-868%	-8,1 k €	+89.0%	-73,4 k €	-148%	152,8 k €	-1.0%	154,3 k €	-22.2%	198,4 k €	+11.7%	177,6 k €	+13.9%	155,9 k €	+35.8%	114,8 k €
Operating result	-43,4 k €	-33.7%	-32,5 k €	-1.2%	-32,1 k €	+41.2%	-54,6 k €	-399%	18,3 k €	+578%	-3,8 k €	-117%	22,6 k €	+400%	-7,5 k €	+59.1%	-18,4 k €	-1095%	1,8 k €	+104%	-49,4 k €	-69.2%	-29,2 k €	-177%	37,9 k €	+332%	8,8 k €	-58.9%	21,3 k €	-82.2%	119,7 k €	+48.5%	80,6 k €	+68.8%	47,8 k €
Net result	-43,5 k €	-33.6%	-32,6 k €	-0.5%	-32,4 k €	+40.7%	-54,7 k €	-408%	17,8 k €	+567%	-3,8 k €	-117%	22,0 k €	+370%	-8,2 k €	+57.8%	-19,3 k €	-1812%	1,1 k €	+102%	-56,8 k €	-101%	-28,3 k €	-253%	18,5 k €	+122%	8,3 k €	+487%	1,4 k €	-97.9%	67,0 k €	+74.6%	38,4 k €	+294%	9,7 k €
Balance sheet
Equity	-200,4 k €	-27.7%	-156,9 k €	-26.2%	-124,4 k €	-35.3%	-92,0 k €	-147%	-37,2 k €	+32.3%	-55,0 k €	-7.4%	-51,2 k €	+30.1%	-73,3 k €	-12.5%	-65,1 k €	-42.2%	-45,8 k €	+2.4%	-46,9 k €	-576%	9,8 k €	-99.5%	1,9 M €	+1.0%	1,9 M €	+0.4%	1,9 M €	+0.1%	1,9 M €	-0.4%	1,9 M €	+1.3%	1,9 M €
Total assets	41,7 k €	-58.9%	101,5 k €	-19.2%	125,6 k €	-34.2%	190,9 k €	+26.8%	150,6 k €	+15.4%	130,4 k €	-28.8%	183,3 k €	+35.3%	135,4 k €	-51.7%	280,4 k €	+35.3%	207,3 k €	-20.6%	261,0 k €	-49.4%	515,7 k €	-85.9%	3,6 M €	+14.8%	3,2 M €	+12.5%	2,8 M €	-8.2%	3,1 M €	-11.7%	3,5 M €	+1.4%	3,4 M €
Cash	1,3 k €	-68.7%	4,3 k €	+2009%	202,5 €	-97.8%	9,1 k €	+1937%	446,2 €	+39.3%	320,3 €	-98.7%	24,2 k €	+3597%	653,3 €	-99.1%	70,9 k €	+1632%	4,1 k €	+80.5%	2,3 k €	-94.9%	44,8 k €	+17.0%	38,3 k €	+9.4%	35,0 k €	+1890%	1,8 k €	-86.6%	13,1 k €	-13.5%	15,2 k €	+295%	3,8 k €
Debts	242,1 k €	-6.3%	258,4 k €	+3.4%	249,9 k €	-11.6%	282,8 k €	+50.6%	187,8 k €	+1.3%	185,5 k €	-20.9%	234,5 k €	+12.4%	208,7 k €	-39.6%	345,5 k €	+36.5%	253,1 k €	-17.8%	307,9 k €	-39.1%	505,9 k €	-70.3%	1,7 M €	+36.1%	1,3 M €	+39.6%	895,6 k €	-22.3%	1,2 M €	-25.9%	1,6 M €	+1.8%	1,5 M €
Other
Workforce	–		–		–		–		–		–		–		–		–		1,0 ETP	0.0%	1,0 ETP	-44.4%	1,8 ETP	-45.5%	3,3 ETP	+6.5%	3,1 ETP	+14.8%	2,7 ETP	+8.0%	2,5 ETP	-10.7%	2,8 ETP	0.0%	2,8 ETP

Governance

Board of directors

Seen on filing of 30/09/2025 · 2 active · 14 ended

Active mandates

Willy Van Gysegem

Director · since 27 mai 2011

Active

Hilde Cosyns

Director

Active

Ended mandates

Hilde Cosyns

Director · since 27 mars 2020 · until 28 février 2026

Ended

Willy Van Gysegem

Managing director · since 27 mars 2020 · until 28 février 2026

Ended

Hilde Cosyns

Mandate · since 28 mai 2011 · until 27 mai 2017

Ended

Hilde Cosyns

Director · since 28 mai 2011 · until 27 mai 2017

Ended

At this address

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TIDEN● Active	0686.559.466
UNICORN● Liquidation	0887.911.274

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/10/2024	01/10/2023	01/10/2022	01/10/2021	01/10/2020	01/10/2019
Closing of the financial year	30/09/2025	30/09/2024	30/09/2023	30/09/2022	30/09/2021	30/09/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	24/03/2026	21/03/2025	20/03/2024	24/03/2023	11/03/2022	31/03/2021
General meeting	28/02/2026	22/02/2025	16/03/2024	25/02/2023	26/02/2022	27/02/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

19 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	30/09/2025	28/02/2026	24/03/2026	Dutch	PDF
Micro model	30/09/2024	22/02/2025	21/03/2025	Dutch	PDF
Micro model	30/09/2023	16/03/2024	20/03/2024	Dutch	PDF
Micro model	30/09/2022	25/02/2023	24/03/2023	Dutch	PDF
Micro model	30/09/2021	26/02/2022	11/03/2022	Dutch	PDF
Micro model	30/09/2020	27/02/2021	31/03/2021	Dutch	PDF
Micro model	30/09/2019	27/03/2020	31/03/2020	Dutch	PDF
Micro model	30/09/2018	31/03/2019	26/04/2019	Dutch	PDF
Micro model	30/09/2017	24/02/2018	27/03/2018	Dutch	PDF
Abridged model	30/09/2016	27/03/2017	30/05/2017	Dutch	PDF
Abridged model	30/09/2015	27/02/2016	25/03/2016	Dutch	PDF
Abridged model	30/09/2014	21/02/2015	26/02/2015	Dutch	PDF
Abridged model	30/09/2013	31/03/2014	30/04/2014	Dutch	PDF
Abridged model	31/12/2011	26/05/2012	11/06/2012	Dutch	PDF
Abridged model	31/12/2010	28/05/2011	09/06/2011	Dutch	PDF
Abridged model	31/12/2009	28/05/2010	14/06/2010	Dutch	PDF
Abridged model	31/12/2008	29/05/2009	05/06/2009	Dutch	PDF
Abridged model	31/12/2007	31/05/2008	05/06/2008	Dutch	PDF
Abridged model	31/12/2006	26/05/2007	22/06/2007	Dutch	PDF

Estimate

Indicative valuation

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 30/09/2025 · 2 active · 14 ended

Active mandates

Willy Van Gysegem

Director · since 27 mai 2011

Active

Hilde Cosyns

Director

Active

Ended mandates

Hilde Cosyns

Director · since 27 mars 2020 · until 28 février 2026

Ended

Willy Van Gysegem

Managing director · since 27 mars 2020 · until 28 février 2026

Ended

Hilde Cosyns

Mandate · since 28 mai 2011 · until 27 mai 2017

Ended

Hilde Cosyns

Director · since 28 mai 2011 · until 27 mai 2017

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates25/09/2020
ONTSLAGEN - BENOEMINGEN
PDF
Registered office21/05/2013
MAATSCHAPPELIJKE ZETEL
PDF
Restructuring20/04/2012
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring23/01/2012
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...) - DIVERSEN
PDF
Mandates15/06/2011
ONTSLAGEN - BENOEMINGEN
PDF
Mandates02/08/2005
ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025-43,5 k €↓
2024
Annual accounts 2024-32,6 k €↓
2023
Annual accounts 2023-32,4 k €↑
2022
Annual accounts 2022-54,7 k €↓
2021
Annual accounts 202117,8 k €↑
2020
Annual accounts 2020-3,8 k €↓
2019
Annual accounts 201922,0 k €↑
2018
Annual accounts 2018-8,2 k €↑
2017
Annual accounts 2017-19,3 k €↓
2016
Annual accounts 20161,1 k €↑
2015
Annual accounts 2015-56,8 k €↓
2014
Annual accounts 2014-28,3 k €↓
2011
Annual accounts 201118,5 k €↑
2010
Annual accounts 20108,3 k €↑
2009
Annual accounts 20091,4 k €↓
2008
Annual accounts 200867,0 k €↑
2007
Annual accounts 200738,4 k €↑
2006
Annual accounts 20069,7 k €
27/12/1978
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

ARS

Overview

What does ARS do?

Trend over 18 financial years

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline