ACTIVE

ARSA

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Financial year 2025 · closed on 30/09/2025

Net result

1,5 M €

-73.3% YoY

Gross margin

362,1 k €

-18.3% YoY

Equity

28,6 M €

+5.4% YoY

Workforce

0,0 ETP

What does ARSA do?

ARSA is a Private limited company incorporated in 2003. Its registered office is in Lokeren.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0861.805.804

Incorporation

24/11/2003

Legal form

Private limited company

Registered office

Spieveldstraat 6
9160 Lokeren · FlandreSee on map

Contributed capital

11 104 110,35 €

Latest accounts

30/09/2025

Average workforce

0,0 ETP

Signals

ProfitableSolid equityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

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
Gross margin	362,1 k €	-18.3%	443 k €		–		–		510 k €	-3.1%	526,4 k €		–		–		–		–		–		–		–		–		583,2 k €	+24.0%	470,3 k €	-21.5%	599,1 k €	+59.3%	376,2 k €	+30.6%	288,1 k €	+4.1%	276,6 k €
EBITDA	303,3 k €	-30.8%	438,2 k €	-3.2%	452,5 k €	-6.0%	481,4 k €	-4.4%	503,6 k €	-1.8%	512,8 k €	+0.0%	512,8 k €	+13.5%	451,8 k €	+60.5%	281,5 k €	-9.8%	312,3 k €	-12.2%	355,7 k €	-38.7%	580,1 k €	-12.1%	660 k €	+13.2%	583 k €	+1.3%	575,3 k €	+23.6%	465,3 k €	-21.2%	590,1 k €	+60.4%	367,9 k €	+30.7%	281,6 k €	+5.6%	266,7 k €
Operating result	263,8 k €	-33.9%	398,8 k €	-3.6%	413,7 k €	-6.5%	442,6 k €	-4.8%	464,7 k €	-1.7%	472,9 k €	-2.6%	485,7 k €	+14.7%	423,5 k €	+67.8%	252,4 k €	-10.9%	283,2 k €	-13.2%	326,2 k €	-40.7%	549,7 k €	-10.9%	617,3 k €	+9.7%	562,6 k €	+1.5%	554,4 k €	+27.4%	435 k €	-19.4%	540,1 k €	+72.6%	312,9 k €	+31.9%	237,2 k €	+4.6%	226,8 k €
Net result	1,5 M €	-73.3%	5,4 M €	+2018%	257 k €	-37.8%	413,2 k €	-73.5%	1,6 M €	-11.0%	1,8 M €	-62.6%	4,7 M €	+278%	1,2 M €	+732%	148,8 k €	-16.5%	178,3 k €	-73.4%	669,5 k €	-34.5%	1 M €	+4.8%	974,4 k €	-32.5%	1,4 M €	+292%	368,4 k €	+27.2%	289,5 k €	-14.9%	340,1 k €	+77.4%	191,7 k €	+24.2%	154,3 k €	+38.6%	111,4 k €
Balance sheet
Equity	28,6 M €	+5.4%	27,1 M €	+25.3%	21,7 M €	+1.2%	21,4 M €	+2.0%	21 M €	+8.0%	19,4 M €	+9.9%	17,7 M €	+36.0%	13 M €	-30.7%	18,7 M €	+0.8%	18,6 M €	+1.0%	18,4 M €	+3.8%	17,7 M €	+1.3%	17,5 M €	+1.6%	17,2 M €	+6.7%	16,2 M €	+2008%	766,6 k €	+0.2%	765,3 k €	+80.0%	425,2 k €	+82.0%	233,6 k €	+3.2%	226,3 k €
Total assets	48,9 M €	+1.9%	48 M €	+52.3%	31,5 M €	+3.9%	30,3 M €	+10.0%	27,6 M €	+2.0%	27,1 M €	+8.1%	25 M €	+9.5%	22,9 M €	+10.5%	20,7 M €	+2.0%	20,3 M €	+1.6%	20 M €	-1.8%	20,3 M €	+4.7%	19,4 M €	+3.6%	18,8 M €	+10.3%	17 M €	+851%	1,8 M €	+6.7%	1,7 M €	-0.2%	1,7 M €	+71.4%	979 k €	-18.1%	1,2 M €
Cash	304,1 k €	+61.5%	188,3 k €	+39.4%	135,1 k €	+22.0%	110,7 k €	-40.1%	184,7 k €	+15.3%	160,2 k €	-65.5%	464,2 k €	+223%	143,6 k €	+42.0%	101,1 k €	-1.2%	102,3 k €	+2602%	3,8 k €	-62.0%	10 k €	-73.9%	38,1 k €	-59.3%	93,5 k €	-71.5%	327,4 k €	+74.5%	187,6 k €	+18.5%	158,2 k €	+89.1%	83,7 k €	+401%	16,7 k €	-95.3%	358,3 k €
Debts	20,3 M €	-2.6%	20,9 M €	+111%	9,9 M €	+10.4%	8,9 M €	+35.4%	6,6 M €	-13.5%	7,6 M €	+3.9%	7,3 M €	-25.5%	9,9 M €	+407%	1,9 M €	+14.7%	1,7 M €	+9.1%	1,6 M €	-40.1%	2,6 M €	+37.1%	1,9 M €	+25.7%	1,5 M €	+78.9%	840,7 k €	-17.6%	1 M €	+12.2%	909 k €	-27.4%	1,3 M €	+68.0%	745,4 k €	-23.0%	968,5 k €
Other
Workforce	0,0 ETP		0,0 ETP		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–		–

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 30/09/2025 · 4 active · 14 ended

Active mandates

Salih Demirci

Director

Active

Selami Top

Director

Active

Semih Top

Director

Active

Umit Demirci

Director

Active

Ended mandates

Salih Demerci

Mandate

Ended

Salih Demerci

Manager

Ended

Salih Demirci

Manager

Ended

Salih Demrici

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
Samet Infra● Active	0809.848.347

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Full model	Full model	Abridged model	Abridged 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	30/03/2026	23/04/2025	18/03/2024	21/04/2023	12/04/2022	23/04/2021
General meeting	16/03/2026	22/04/2025	15/03/2024	15/03/2023	15/03/2022	31/03/2021
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

24 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/09/2025	16/03/2026	30/03/2026	Dutch	PDF
m120-f-p	30/09/2025	25/05/2026	16/06/2026	Dutch	PDF
Abridged model	30/09/2024	22/04/2025	23/04/2025	Dutch	PDF
m120-f-p	30/09/2024	25/06/2025	09/07/2025	Dutch	PDF
Full model	30/09/2023	15/03/2024	18/03/2024	Dutch	PDF
m120-f-p	30/09/2023	31/03/2024	19/04/2024	Dutch	PDF
Full modelCorrection	30/09/2022	15/03/2023	21/04/2023	Dutch	PDF
Full model	30/09/2022	15/03/2023	31/03/2023	Dutch	PDF
Abridged model	30/09/2021	15/03/2022	12/04/2022	Dutch	PDF
Abridged model	30/09/2020	31/03/2021	23/04/2021	Dutch	PDF
Full model	30/09/2019	16/03/2020	02/04/2020	Dutch	PDF
Full model	30/09/2018	15/03/2019	05/04/2019	Dutch	PDF
Full model	30/09/2017	15/03/2018	30/03/2018	Dutch	PDF
Full model	30/09/2016	15/03/2017	17/03/2017	Dutch	PDF
Full model	30/09/2015	15/03/2016	17/03/2016	Dutch	PDF
Full model	30/09/2014	16/03/2015	19/03/2015	Dutch	PDF
Full model	30/09/2013	31/03/2014	28/04/2014	Dutch	PDF
Full model	30/09/2012	15/04/2013	26/04/2013	Dutch	PDF
Abridged model	30/09/2011	15/04/2012	09/05/2012	Dutch	PDF
Abridged model	30/09/2010	15/04/2011	30/04/2011	Dutch	PDF
Abridged model	30/09/2009	15/04/2010	04/06/2010	Dutch	PDF
Abridged model	30/09/2008	15/04/2009	30/04/2009	Dutch	PDF
Abridged model	30/09/2007	31/03/2008	30/04/2008	Dutch	PDF
Abridged model	30/09/2006	15/03/2007	12/04/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

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 · 4 active · 14 ended

Active mandates

Salih Demirci

Director

Active

Selami Top

Director

Active

Semih Top

Director

Active

Umit Demirci

Director

Active

Ended mandates

Salih Demerci

Mandate

Ended

Salih Demerci

Manager

Ended

Salih Demirci

Manager

Ended

Salih Demrici

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Restructuring09/12/2024
KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring06/09/2024
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates28/12/2023
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Registered office06/05/2020
MAATSCHAPPELIJKE ZETEL - WIJZIGING RECHTSVORM
PDF
Mandates21/03/2018
ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares29/12/2017
KAPITAAL - AANDELEN
PDF
Capital / shares25/01/2011
KAPITAAL - AANDELEN
PDF
Other01/12/2003
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 20251,5 M €↓
2024
Annual accounts 20245,4 M €↑
2023
Annual accounts 2023257 k €↓
2022
Annual accounts 2022413,2 k €↓
2021
Annual accounts 20211,6 M €↓
2020
Annual accounts 20201,8 M €↓
2019
Annual accounts 20194,7 M €↑
2018
Annual accounts 20181,2 M €↑
2017
Annual accounts 2017148,8 k €↓
2016
Annual accounts 2016178,3 k €↓
2015
Annual accounts 2015669,5 k €↓
2014
Annual accounts 20141 M €↑
2013
Annual accounts 2013974,4 k €↓
2012
Annual accounts 20121,4 M €↑
2011
Annual accounts 2011368,4 k €↑
2010
Annual accounts 2010289,5 k €↓
2009
Annual accounts 2009340,1 k €↑
2008
Annual accounts 2008191,7 k €↑
2007
Annual accounts 2007154,3 k €↑
2006
Annual accounts 2006111,4 k €
24/11/2003
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

ARSA

Overview

What does ARSA 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