ACTIVE

ART D'EAU

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Financial year 2025 · closed on 31/12/2025

Net result

1 M €

+261.0% YoY

Gross margin

1,9 M €

+95.5% YoY

Equity

2,6 M €

0.0% YoY

Workforce

10,8 ETP

+4.9% YoY

What does ART D'EAU do?

ART D'EAU is a Private limited company incorporated in 2009. Its main activity is: Other specialised construction activities n.e.c.. Its registered office is in Sint-Truiden. It employs on average 10,8 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0819.277.341

Incorporation

01/10/2009

Legal form

Private limited company

Registered office

Lichtenberglaan 2066
3800 Sint-Truiden · FlandreSee on map

Contributed capital

7 000,00 €

Latest accounts

31/12/2025

Average workforce

10,8 ETP

Activities (NACE)

43990Other specialised construction activities n.e.c.· main 43999Other specialised construction activities n.e.c.

Joint committees (7)

0
1000
124
1240
2000
20000
218

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 16 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010
Income statement
Gross margin	1,9 M €	+95.5%	980,8 k €	+18.2%	829,9 k €	-32.7%	1,2 M €	-39.4%	2 M €	+45.8%	1,4 M €	+31.4%	1,1 M €	+87.8%	565,2 k €	+23.3%	458,5 k €	+49.3%	307,2 k €	-4.9%	323,1 k €	+29.6%	249,4 k €	-10.8%	279,5 k €	-14.7%	327,8 k €	+95.5%	167,7 k €	+406%	33,2 k €
EBITDA	1,3 M €	+232%	377,4 k €	+139%	158,1 k €	-70.7%	538,8 k €	-61.1%	1,4 M €	+56.7%	883,8 k €	+16.8%	756,9 k €	+191%	260,4 k €	+10.8%	235,1 k €	+88.5%	124,7 k €	+2.3%	122 k €	+74.0%	70,1 k €	-31.2%	101,8 k €	-6.2%	108,6 k €	-5.5%	114,9 k €	+358%	25,1 k €
Operating result	1,2 M €	+276%	320,8 k €	+233%	96,4 k €	-77.4%	426,6 k €	-66.5%	1,3 M €	+64.6%	773,4 k €	+17.4%	658,5 k €	+164%	249,7 k €	+12.5%	221,9 k €	+119%	101,1 k €	-0.4%	101,6 k €	+489%	17,3 k €	-61.9%	45,3 k €	-8.5%	49,5 k €	+21.5%	40,7 k €	+96.6%	20,7 k €
Net result	1 M €	+261%	290,3 k €	+259%	80,8 k €	-84.9%	534,4 k €	-44.3%	960 k €	+39.2%	689,7 k €	+36.2%	506,3 k €	+220%	158,5 k €	-2.0%	161,6 k €	+156%	63,2 k €	-1.1%	63,9 k €	+605%	9,1 k €	-62.1%	23,9 k €	-18.9%	29,5 k €	+18.3%	24,9 k €	+68.8%	14,8 k €
Balance sheet
Equity	2,6 M €	0.0%	2,6 M €	-18.8%	3,2 M €	0.0%	3,2 M €	+19.7%	2,7 M €	+54.8%	1,8 M €	+64.9%	1,1 M €	+91.0%	556,5 k €	+39.8%	398 k €	+68.4%	236,4 k €	+36.5%	173,2 k €	+58.5%	109,2 k €	+9.1%	100,2 k €	+31.4%	76,2 k €	+63.2%	46,7 k €	+115%	21,8 k €
Total assets	4,3 M €	+35.0%	3,2 M €	-10.0%	3,6 M €	+0.3%	3,5 M €	-18.5%	4,3 M €	+62.2%	2,7 M €	+30.9%	2 M €	+72.4%	1,2 M €	+7.0%	1,1 M €	+30.1%	853,7 k €	+64.4%	519,2 k €	+64.9%	314,9 k €	-15.5%	372,6 k €	-11.0%	418,7 k €	+17.7%	355,8 k €	+299%	89,1 k €
Cash	300,4 k €	-31.0%	435,3 k €	-47.3%	826,3 k €	+24.4%	664,1 k €	+5.7%	628,1 k €	-16.2%	749,2 k €	+53.5%	488 k €	+164%	185 k €	-26.0%	250,1 k €	+120%	113,8 k €	+349%	25,3 k €	-6.5%	27,1 k €	+15.0%	23,6 k €	-33.7%	35,5 k €	+607%	5 k €	-91.2%	57 k €
Debts	1,7 M €	+199%	561,3 k €	+82.1%	308,2 k €	+3.9%	296,5 k €	-81.5%	1,6 M €	+75.4%	913,2 k €	-7.3%	984,8 k €	+56.0%	631,4 k €	-11.2%	711,2 k €	+15.5%	615,6 k €	+78.0%	345,9 k €	+68.2%	205,6 k €	-24.3%	271,7 k €	-20.7%	342,5 k €	+10.8%	309,1 k €	+359%	67,3 k €
Other
Workforce	10,8 ETP	+4.9%	10,3 ETP	-9.6%	11,4 ETP	-4.2%	11,9 ETP	-0.8%	12,0 ETP	+20.0%	10,0 ETP	+53.8%	6,5 ETP	0.0%	6,5 ETP	+22.6%	5,3 ETP	+17.8%	4,5 ETP	-11.8%	5,1 ETP	+10.9%	4,6 ETP	0.0%	4,6 ETP	-17.9%	5,6 ETP	+331%	1,3 ETP	+333%	0,3 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 20 ended

Active mandates

A.H.M. SARL-S

Director

Represented by Andreas Heyen

Active

ART D’EAU GROUP

Director · 0794.792.165

Represented by Koen Raes

Active

Elien Vaes

Director · until 01 septembre 2025

Active

LONCIN PHILIPPE

Director · 0863.075.217

Represented by Philippe Loncin

Active

Ended mandates

A.H.M. SARL-S

Director · since 12 mars 2024

Represented by Andreas HEYEN

Ended

Andreas Heyen

Director · since 01 janvier 2023 · until 12 mars 2024

Ended

Andreas HEYEN

Director · since 01 janvier 2023

Ended

ART D’EAU GROUP

Director · since 01 janvier 2023 · 0794.792.165

Represented by Raes KOEN

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	17/07/2026	30/07/2025	22/07/2024	28/07/2023	28/07/2022	23/07/2021
General meeting	26/06/2026	30/06/2025	28/06/2024	30/06/2023	30/06/2022	25/06/2021
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

16 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	26/06/2026	17/07/2026	Dutch	PDF
Abridged model	31/12/2024	30/06/2025	30/07/2025	Dutch	PDF
Abridged model	31/12/2023	28/06/2024	22/07/2024	Dutch	PDF
Abridged model	31/12/2022	30/06/2023	28/07/2023	Dutch	PDF
Abridged model	31/12/2021	30/06/2022	28/07/2022	Dutch	PDF
Abridged model	31/12/2020	25/06/2021	23/07/2021	Dutch	PDF
Abridged model	31/12/2019	30/07/2020	20/08/2020	Dutch	PDF
Abridged model	31/12/2018	28/06/2019	24/07/2019	Dutch	PDF
Abridged model	31/12/2017	30/06/2018	30/07/2018	Dutch	PDF
Abridged model	31/12/2016	30/06/2017	24/07/2017	Dutch	PDF
Abridged model	31/12/2015	24/06/2016	27/06/2016	Dutch	PDF
Abridged model	31/12/2014	26/06/2015	29/06/2015	Dutch	PDF
Abridged model	31/12/2013	27/06/2014	03/07/2014	Dutch	PDF
Abridged model	31/12/2012	28/06/2013	10/07/2013	Dutch	PDF
Abridged model	31/12/2011	29/06/2012	20/07/2012	Dutch	PDF
Abridged model	31/12/2010	24/06/2011	29/06/2011	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 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 · 4 active · 20 ended

Active mandates

A.H.M. SARL-S

Director

Represented by Andreas Heyen

Active

ART D’EAU GROUP

Director · 0794.792.165

Represented by Koen Raes

Active

Elien Vaes

Director · until 01 septembre 2025

Active

LONCIN PHILIPPE

Director · 0863.075.217

Represented by Philippe Loncin

Active

Ended mandates

A.H.M. SARL-S

Director · since 12 mars 2024

Represented by Andreas HEYEN

Ended

Andreas Heyen

Director · since 01 janvier 2023 · until 12 mars 2024

Ended

Andreas HEYEN

Director · since 01 janvier 2023

Ended

ART D’EAU GROUP

Director · since 01 janvier 2023 · 0794.792.165

Represented by Raes KOEN

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates05/11/2025
ONTSLAGEN - BENOEMINGEN
PDF
Registered office28/02/2025
MAATSCHAPPELIJKE ZETEL
PDF
Mandates15/03/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - DIVERSEN - ONTSLAGEN - BENOEMINGEN
PDF
Mandates07/04/2023
ONTSLAGEN - BENOEMINGEN
PDF
Registered office25/02/2013
MAATSCHAPPELIJKE ZETEL
PDF
Other14/10/2009
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
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 20251 M €↑
2024
Annual accounts 2024290,3 k €↑
2023
Annual accounts 202380,8 k €↓
2022
Annual accounts 2022534,4 k €↓
2021
Annual accounts 2021960 k €↑
2020
Annual accounts 2020689,7 k €↑
2019
Annual accounts 2019506,3 k €↑
2018
Annual accounts 2018158,5 k €↓
2017
Annual accounts 2017161,6 k €↑
2016
Annual accounts 201663,2 k €↓
2015
Annual accounts 201563,9 k €↑
2014
Annual accounts 20149,1 k €↓
2013
Annual accounts 201323,9 k €↓
2012
Annual accounts 201229,5 k €↑
2011
Annual accounts 201124,9 k €↑
2010
Annual accounts 201014,8 k €
01/10/2009
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

ART D'EAU

Overview

What does ART D'EAU do?

Trend over 16 financial years

Indicative valuation

Board of directors

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