ACTIVE

ARMAN

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Financial year 2025 · closed on 31/12/2025

Net result

213,8 k €

+67.2% YoY

Revenue

2 M €

+43.9% YoY

Equity

405,5 k €

+111.5% YoY

What does ARMAN do?

ARMAN is a Private limited company incorporated in 2002. Its main activity is: Non-specialised wholesale of food, beverages and tobacco. Its registered office is in Ganshoren.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0478.349.560

Incorporation

17/09/2002

Legal form

Private limited company

Registered office

Avenue de Jette 267 box 3
1083 Ganshoren · BruxellesSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Activities (NACE)

46392Non-specialised wholesale of food, beverages and tobacco· main 49320Taxi operation 49330Other passenger land transport 52112Warehousing and storage 47110Retail sale in non-specialised stores with food, beverages or tobacco predominating 47112Retail sale in non-specialised stores with food, beverages or tobacco predominating

Contacts

1 public detail availableLog in to view

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	2 M €	+43.9%	1,4 M €	+30.9%	1 M €	+32.5%	786,5 k €	+15.2%	683 k €		–		–		–		383,6 k €	+18.6%	323,3 k €		–		–		261,8 k €	+12.6%	232,6 k €	-13.8%	269,7 k €		–		–		–		–		195,8 k €
EBITDA	324,3 k €	+59.5%	203,4 k €	+192%	69,7 k €	+281%	18,3 k €	-60.6%	46,4 k €	+113%	21,8 k €	+334%	-9,3 k €	-442%	2,7 k €	-31.5%	4 k €	-40.1%	6,6 k €	+22.8%	5,4 k €	+54.8%	3,5 k €	-61.5%	9,1 k €	+139%	-23,2 k €	-383%	8,2 k €	+277%	-4,6 k €	-150%	9,4 k €	+69.8%	5,5 k €	+388%	-1,9 k €	-114%	13,7 k €
Operating result	304,4 k €	+62.8%	187 k €	+311%	45,5 k €	+1050%	4 k €	-89.3%	36,8 k €	+172%	13,5 k €	+234%	-10,1 k €	-476%	-1,8 k €	+24.2%	-2,3 k €	-162%	3,7 k €	+14.0%	3,3 k €	+648%	-597,1 €	-110%	6 k €	+123%	-26,5 k €	-423%	8,2 k €	+246%	-5,6 k €	-187%	6,5 k €	+385%	1,3 k €	+122%	-6,1 k €	-156%	10,9 k €
Net result	213,8 k €	+67.2%	127,9 k €	+284%	33,3 k €	+5544%	590,7 €	-98.2%	33,3 k €	+177%	12 k €	+207%	-11,3 k €	-2298%	512 €	+456%	-144 €	-102%	6,2 k €	+673%	801,5 €	+120%	-3,9 k €	-232%	3 k €	+334%	-1,3 k €	-128%	4,5 k €	+185%	-5,3 k €	-201%	5,2 k €	+149%	2,1 k €	+122%	-9,5 k €	-205%	9 k €
Balance sheet
Equity	405,5 k €	+112%	191,7 k €	+200%	63,9 k €	+109%	30,5 k €	-6.2%	32,5 k €	+39.8%	23,3 k €	+106%	11,3 k €	-49.9%	22,5 k €	+2.3%	22 k €	-0.6%	22,2 k €	+0.9%	22 k €	+3.8%	21,2 k €	-15.6%	25,1 k €	+13.4%	22,1 k €	-5.4%	23,4 k €	+260%	6,5 k €	-44.9%	11,8 k €	+80.0%	6,5 k €	+47.3%	4,4 k €	-68.2%	14 k €
Total assets	800,6 k €	+56.7%	510,8 k €	-5.4%	539,8 k €	+61.2%	334,8 k €	+2.1%	328 k €	+210%	105,7 k €	+144%	43,4 k €	-30.3%	62,2 k €	-46.0%	115,1 k €	+81.7%	63,4 k €	+80.7%	35,1 k €	-29.4%	49,7 k €	-21.1%	63 k €	-10.0%	70 k €	-26.2%	94,8 k €	+150%	37,9 k €	+2.4%	37 k €	+54.3%	24 k €	-4.6%	25,1 k €	+5.2%	23,9 k €
Cash	416,9 k €	+61.4%	258,3 k €	+61.7%	159,7 k €	+75.3%	91,1 k €	+3.5%	88,1 k €	+300%	22 k €	+641%	3 k €	-71.2%	10,3 k €	+459%	1,8 k €	-70.1%	6,2 k €	+153%	2,4 k €	-31.3%	3,5 k €	+40.4%	2,5 k €	-60.8%	6,4 k €	+62.6%	4 k €	-9.8%	4,4 k €	+166%	1,7 k €	+222%	513,1 €	-88.7%	4,5 k €	-31.7%	6,6 k €
Debts	395,1 k €	+23.8%	319,1 k €	-32.9%	475,7 k €	+56.3%	304,3 k €	+3.0%	295,5 k €	+258%	82,5 k €	+158%	32 k €	-19.3%	39,7 k €	-57.4%	93,1 k €	+126%	41,2 k €	+214%	13,1 k €	-54.0%	28,5 k €	-24.8%	37,9 k €	-20.8%	47,9 k €	-33.0%	71,4 k €	+128%	31,4 k €	+24.4%	25,2 k €	+44.7%	17,4 k €	-15.7%	20,7 k €	+108%	9,9 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 3 ended

Active mandates

Armen Baghdasaryan

Mandate

Active

Ended mandates

ARMEN BAGHDASARYAN

Manager

Ended

SUSANNA GHAZARYAN

Manager

Ended

Suzanna GHAZARIAN

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
Association des copropriétaires de l'immeuble situé à Ganshoren, avenue de Jette 267● Active	0884.994.643

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Micro model	Abridged model	Micro model	Micro model	Micro model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	31/08/2026	30/09/2025	29/10/2024	01/09/2023	30/09/2022	30/11/2021
General meeting	30/06/2026	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021
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

22 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	30/06/2026	31/08/2026	French	PDF
Micro model	31/12/2024	30/06/2025	30/09/2025	French	PDF
Abridged model	31/12/2023	30/06/2024	29/10/2024	French	PDF
Micro model	31/12/2022	30/06/2023	01/09/2023	French	PDF
Micro model	31/12/2021	30/06/2022	30/09/2022	French	PDF
Micro model	31/12/2020	30/06/2021	30/11/2021	French	PDF
Micro model	31/12/2019	08/09/2020	30/11/2020	French	PDF
Micro model	31/12/2018	10/06/2019	31/08/2019	French	PDF
Abridged model	31/12/2017	04/06/2018	31/08/2018	French	PDF
Micro model	31/12/2016	05/06/2017	31/08/2017	French	PDF
Abridged model	31/12/2015	06/06/2016	30/08/2016	Dutch	PDF
Abridged model	31/12/2014	01/06/2015	31/08/2015	Dutch	PDF
Abridged modelCorrection	31/12/2013	03/12/2014	03/12/2014	French	PDF
Abridged model	31/12/2013	02/06/2014	10/07/2014	French	PDF
Abridged model	31/12/2012	03/06/2013	26/08/2013	French	PDF
Abridged model	31/12/2011	04/06/2012	07/12/2012	French	PDF
Abridged model	31/12/2010	06/06/2011	19/07/2012	French	PDF
Abridged model	31/12/2009	07/06/2010	29/10/2010	French	PDF
Abridged modelCorrection	31/12/2008	01/06/2009	11/09/2009	French	PDF
Abridged model	31/12/2008	01/06/2009	27/08/2009	French	PDF
Abridged model	31/12/2007	02/06/2008	29/08/2008	French	PDF
Abridged model	31/12/2006	03/07/2007	17/07/2007	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 M€

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 31/12/2025 · 1 active · 3 ended

Active mandates

Armen Baghdasaryan

Mandate

Active

Ended mandates

ARMEN BAGHDASARYAN

Manager

Ended

SUSANNA GHAZARYAN

Manager

Ended

Suzanna GHAZARIAN

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates23/08/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Registered office27/03/2020
SIEGE SOCIAL
PDF
Mandates08/01/2015
DEMISSIONS, NOMINATIONS
PDF
Mandates20/08/2014
DEMISSIONS, NOMINATIONS
PDF
Mandates14/05/2009
DEMISSIONS, NOMINATIONS
PDF
Mandates19/03/2009
DEMISSIONS, NOMINATIONS
PDF
Registered office14/01/2004
SIEGE SOCIAL
PDF
Other24/09/2002
RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
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 2025213,8 k €↑
2024
Annual accounts 2024127,9 k €↑
2023
Annual accounts 202333,3 k €↑
2022
Annual accounts 2022590,7 €↓
2021
Annual accounts 202133,3 k €↑
2020
Annual accounts 202012 k €↑
2019
Annual accounts 2019-11,3 k €↓
2018
Annual accounts 2018512 €↑
2017
Annual accounts 2017-144 €↓
2016
Annual accounts 20166,2 k €↑
2015
Annual accounts 2015801,5 €↑
2014
Annual accounts 2014-3,9 k €↓
2013
Annual accounts 20133 k €↑
2012
Annual accounts 2012-1,3 k €↓
2011
Annual accounts 20114,5 k €↑
2010
Annual accounts 2010-5,3 k €↓
2009
Annual accounts 20095,2 k €↑
2008
Annual accounts 20082,1 k €↑
2007
Annual accounts 2007-9,5 k €↓
2006
Annual accounts 20069 k €
17/09/2002
IncorporationPrivate 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

ARMAN

Overview

What does ARMAN do?

Trend over 20 financial years

Indicative valuation

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