ACTIVE

ARTO

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Financial year 2025 · closed on 31/12/2025

Net result

83,1 k €

+163.6% YoY

Gross margin

502,9 k €

+49.2% YoY

Equity

473,6 k €

+21.3% YoY

Workforce

6,6 ETP

+29.4% YoY

What does ARTO do?

ARTO is a Private limited company incorporated in 2010. Its main activity is: Manufacture of bread; manufacture of fresh pastry goods and cakes. Its registered office is in Stekene. It employs on average 6,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0826.432.971

Incorporation

07/06/2010

Legal form

Private limited company

Registered office

Dorpsstraat(STE) 81
9190 Stekene · FlandreSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Average workforce

6,6 ETP

Activities (NACE)

10712Manufacture of bread; manufacture of fresh pastry goods and cakes· main 10712Manufacture of bread; manufacture of fresh pastry goods and cakes

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

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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	502,9 k €	+49.2%	337 k €	-28.0%	467,9 k €	+15.2%	406,3 k €	+6.9%	380,1 k €	-5.2%	400,8 k €	+28.3%	312,4 k €	+16.9%	267,1 k €	-8.0%	290,3 k €	+32.1%	219,8 k €	+0.8%	218,1 k €	+9.6%	199 k €	+0.7%	197,5 k €	+19.8%	164,8 k €	-5.2%	173,8 k €	+108%	83,6 k €
EBITDA	214,6 k €	+67.9%	127,8 k €	-25.6%	171,7 k €	+32.7%	129,4 k €	-22.9%	167,7 k €	+1.0%	166 k €	+25.9%	131,8 k €	+5.9%	124,5 k €	-19.1%	153,9 k €	+21.3%	126,9 k €	-1.3%	128,6 k €	+23.5%	104,1 k €	-12.0%	118,3 k €	+24.2%	95,2 k €	-12.2%	108,5 k €	+599%	15,5 k €
Operating result	127 k €	+158%	49,2 k €	-45.6%	90,4 k €	+60.0%	56,5 k €	-32.9%	84,2 k €	+12.7%	74,7 k €	+128%	32,8 k €	+9.3%	30 k €	-59.7%	74,5 k €	+20.2%	62 k €	+2.9%	60,2 k €	+48.8%	40,5 k €	-29.8%	57,7 k €	+46.0%	39,5 k €	-36.5%	62,2 k €	+1093%	-6,3 k €
Net result	83,1 k €	+164%	31,5 k €	-44.5%	56,8 k €	+106%	27,6 k €	-49.8%	55,1 k €	+3.1%	53,4 k €	+184%	18,8 k €	+3.4%	18,2 k €	-59.0%	44,3 k €	+27.2%	34,8 k €	+7.4%	32,5 k €	+76.8%	18,4 k €	-31.7%	26,9 k €	+70.1%	15,8 k €	-53.9%	34,3 k €	+309%	-16,4 k €
Balance sheet
Equity	473,6 k €	+21.3%	390,6 k €	+8.8%	359 k €	+1.9%	352,2 k €	+8.5%	324,6 k €	+8.4%	299,5 k €	+21.7%	246,1 k €	+8.3%	227,3 k €	+8.7%	209,1 k €	+26.9%	164,8 k €	+26.8%	130 k €	+33.3%	97,5 k €	+23.2%	79,1 k €	+51.4%	52,3 k €	+43.3%	36,5 k €	+1572%	2,2 k €
Total assets	927,9 k €	+12.2%	826,7 k €	+1.8%	811,8 k €	-7.2%	875 k €	+41.3%	619,4 k €	+2.4%	604,9 k €	+5.4%	573,8 k €	-3.0%	591,8 k €	+7.1%	552,4 k €	+3.8%	532,4 k €	+5.0%	506,9 k €	+2.8%	493,4 k €	-8.7%	540,5 k €	-5.2%	570,2 k €	+2.4%	556,6 k €	+3.4%	538,1 k €
Cash	165,8 k €	+71.9%	96,4 k €	+29.8%	74,3 k €	-35.4%	115,1 k €	-32.9%	171,5 k €	+8.2%	158,4 k €	+4.2%	152 k €	+94.9%	78 k €	+0.6%	77,5 k €	-20.2%	97,2 k €	+64.0%	59,2 k €	+22.4%	48,4 k €	-10.7%	54,2 k €	+7.5%	50,4 k €	+160%	19,4 k €	-45.3%	35,4 k €
Debts	454,3 k €	+4.2%	436,2 k €	-3.7%	452,8 k €	-13.4%	522,8 k €	+77.4%	294,8 k €	-3.5%	305,4 k €	-6.8%	327,7 k €	-10.0%	364 k €	+6.1%	343,2 k €	-6.6%	367,6 k €	-2.5%	377 k €	-4.8%	395,8 k €	-14.2%	461,3 k €	-10.9%	517,9 k €	-0.4%	520,1 k €	-3.0%	536 k €
Other
Workforce	6,6 ETP	+29.4%	5,1 ETP	-23.9%	6,7 ETP	-6.9%	7,2 ETP	-1.4%	7,3 ETP		–		–		–		–		–		3,4 ETP	+6.2%	3,2 ETP	+28.0%	2,5 ETP	-19.4%	3,1 ETP	+34.8%	2,3 ETP	+64.3%	1,4 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 500 k€ and 1 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 4 ended

Active mandates

Piet De Vos

Director

Active

Susan Denkens

Director

Active

Ended mandates

Piet De Vos

Manager · since 02 juin 2010

Ended

Susan Denkens

Manager · since 02 juin 2010

Ended

Piet De Vos

Manager

Ended

Susan Denkens

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
Immo P&S● Active	0553.457.056

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	26/06/2026	04/07/2025	18/07/2024	23/06/2023	20/07/2022	18/08/2021
General meeting	25/06/2026	26/06/2025	27/06/2024	22/06/2023	23/06/2022	24/06/2021
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	25/06/2026	26/06/2026	Dutch	PDF
Abridged model	31/12/2024	26/06/2025	04/07/2025	Dutch	PDF
Abridged model	31/12/2023	27/06/2024	18/07/2024	Dutch	PDF
Abridged model	31/12/2022	22/06/2023	23/06/2023	Dutch	PDF
Abridged model	31/12/2021	23/06/2022	20/07/2022	Dutch	PDF
Micro model	31/12/2020	24/06/2021	18/08/2021	Dutch	PDF
Micro model	31/12/2019	25/06/2020	09/07/2020	Dutch	PDF
Micro model	31/12/2018	27/06/2019	04/07/2019	Dutch	PDF
Micro model	31/12/2017	28/06/2018	29/06/2018	Dutch	PDF
Micro model	31/12/2016	22/06/2017	11/07/2017	Dutch	PDF
Abridged model	31/12/2015	23/06/2016	30/06/2016	Dutch	PDF
Abridged model	31/12/2014	25/06/2015	26/06/2015	Dutch	PDF
Abridged model	31/12/2013	26/06/2014	08/07/2014	Dutch	PDF
Abridged model	31/12/2012	27/06/2013	10/07/2013	Dutch	PDF
Abridged model	31/12/2011	28/06/2012	04/07/2012	Dutch	PDF
Abridged model	31/12/2010	23/06/2011	27/06/2011	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 k€ and 1 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 · 2 active · 4 ended

Active mandates

Piet De Vos

Director

Active

Susan Denkens

Director

Active

Ended mandates

Piet De Vos

Manager · since 02 juin 2010

Ended

Susan Denkens

Manager · since 02 juin 2010

Ended

Piet De Vos

Manager

Ended

Susan Denkens

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Other08/05/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM
PDF
Other16/06/2010
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 202583,1 k €↑
2024
Annual accounts 202431,5 k €↓
2023
Annual accounts 202356,8 k €↑
2022
Annual accounts 202227,6 k €↓
2021
Annual accounts 202155,1 k €↑
2020
Annual accounts 202053,4 k €↑
2019
Annual accounts 201918,8 k €↑
2018
Annual accounts 201818,2 k €↓
2017
Annual accounts 201744,3 k €↑
2016
Annual accounts 201634,8 k €↑
2015
Annual accounts 201532,5 k €↑
2014
Annual accounts 201418,4 k €↓
2013
Annual accounts 201326,9 k €↑
2012
Annual accounts 201215,8 k €↓
2011
Annual accounts 201134,3 k €↑
2010
Annual accounts 2010-16,4 k €
07/06/2010
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

ARTO

Overview

What does ARTO do?

Trend over 16 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