ARSU is a property company in Gistel. Public Limited, started on 28 June 1994, 1 establishment.

What is the address of ARSU?

The registered office of ARSU is located at Zevekoteheirweg 89, 8470 Gistel.

Is ARSU still active?

Yes. According to the CBE (29 October 2026) ARSU is active, legal situation “Normale toestand”, started on 28 June 1994.

Is ARSU registered on Peppol?

Yes, ARSU is registered on the Peppol network with ID 0208:0452991681.

What is the enterprise number of ARSU?

The enterprise number of ARSU is BE0452991681.

When was ARSU founded?

ARSU was founded on 28 June 1994.

Who are the directors of ARSU?

According to the 2025 annual accounts, the directors of ARSU are: Kristof Spegelaere, Jan Spegelaere, Stefaan Spegelaere.

Is ARSU a reliable company?

Databakkes does not pass judgement; this is what the sources say: Active according to the CBE since 28 June 1994; 5 annual accounts filed, latest fiscal year 2025; 3 directors known from the annual account.

How much profit did ARSU make in 2025?

ARSU posted a profit after taxes of € 232,528 in financial year 2025.

What is the revenue of ARSU?

In its most recent annual accounts (2025), ARSU reported revenue of € 584,085.

How much does an employee at ARSU earn?

The average wage cost per full-time employee at ARSU was € 58,900 in 2025: staff costs of € 794,838 for 13.5 FTE, according to the annual account at the National Bank. That is the employer's cost, not net pay.

How many employees does ARSU have?

According to the 2025 annual accounts, ARSU has 13.5 full-time equivalents (FTE).

ARSU (Public Limited) - Gistel - BE0452991681

Dossier ARSU, printed on 29 October 2026 from databakkes.be/en/0452991681/arsu. Sources: CBE, National Bank of Belgium, Belgian Official Gazette.

Warning lights

Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.

Tight liquidity NBB

Cash and receivables cover 7 % of short-term debt in 2025; threshold 65 %.

Financials

Financial year 2025

ARSU from Gistel, company number BE0452991681, closed financial year 2025 with a result of € 232,528 after tax. For that financial year ARSU recorded revenue of € 584,085 and equity of € 27.4 million. Compared with financial year 2024, the result moved from € 10.5 million to € 232,528. The company is profitable. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 31, 2026.

What it is worth Growing

€ 27.4 million

▲ 1% vs 2024

Assets minus debts, by the books. What is left if everything were sold and paid today.

Profit Healthy

€ 232,528

▼ 98% vs 2024

Profit after tax over the fiscal year.

Cash in the bank

€ 177

▼ 48% vs 2024

Cash and bank balances on the last day of the fiscal year.

Where the profit goes Growing

Stays in the company

No dividend for 2025. Retained profit grew to € 21 million.

People and assets in 2025

Full-time equivalents

13.5

▲ 3.1 vs 2024

Average over the fiscal year, from the social balance sheet.

Wage cost Staff costs are payroll only. Director pay sits with services and miscellaneous goods: € 258,859 in 2025, together with rent, insurance, accountants and other services. The accounts do not split that further.

€ 794,838

▲ 29% vs 2024

€ 58,900 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.

Vehicles and equipment

€ 1,485

▼ 34% vs 2024

Book value of vehicles, furniture and equipment.

Debts at end 2025

Bank debt ≈ 8 years to go The accounts give the long-term loan and the part due within the year. The remainder divided by that part is the number of years at an equal pace; a new loan or early repayment changes it.

€ 2.6 million

▲ 8% vs 2024

€ 310,404 is repaid this year. At this pace the long-term loan is gone in ≈ 8 years.

Owed to suppliers

€ 520,762

▲ 196% vs 2024

Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 734 days on average.

Taxes and wages

€ 168,495

▲ 134% vs 2024

Taxes, VAT and social contributions still to pay.

Key figures per fiscal year Download key figures (CSV)
	2022	2023	2024	2025	Change 2024 → 2025
Revenue	-	-	€ 433,764 Revenue 2024: € 433,764 First fiscal year in the series	€ 584,085 Revenue 2025: € 584,085 ▲ 35% vs 2024 (€ 433,764) Favourable step	▲ 35%
Gross margin	€ 1,954,672 Gross margin 2022: € 1,954,672 First fiscal year in the series	€ 1,917,596 Gross margin 2023: € 1,917,596 ▼ 2% vs 2022 (€ 1,954,672) Unfavourable step	-	-
Profit after taxes	€ 652,485 Profit after taxes 2022: € 652,485 First fiscal year in the series	€ 292,429 Profit after taxes 2023: € 292,429 ▼ 55% vs 2022 (€ 652,485) Unfavourable step	€ 10,494,540 Profit after taxes 2024: € 10,494,540 ▲ € 10.2 million vs 2023 (€ 292,429) Favourable step	€ 232,528 Profit after taxes 2025: € 232,528 ▼ 98% vs 2024 (€ 10,494,540) Unfavourable step	▼ 98%
Equity	€ 16,357,394 Equity 2022: € 16,357,394 First fiscal year in the series	€ 16,645,199 Equity 2023: € 16,645,199 ▲ 2% vs 2022 (€ 16,357,394) Favourable step	€ 27,139,739 Equity 2024: € 27,139,739 ▲ 63% vs 2023 (€ 16,645,199) Favourable step	€ 27,372,267 Equity 2025: € 27,372,267 ▲ 1% vs 2024 (€ 27,139,739) Favourable step	▲ 1%
Total debts	€ 8,025,002 Total debts 2022: € 8,025,002 First fiscal year in the series	€ 18,892,581 Total debts 2023: € 18,892,581 ▲ 135% vs 2022 (€ 8,025,002) Unfavourable step	€ 9,694,602 Total debts 2024: € 9,694,602 ▼ 49% vs 2023 (€ 18,892,581) Favourable step	€ 10,342,164 Total debts 2025: € 10,342,164 ▲ 7% vs 2024 (€ 9,694,602) Unfavourable step	▲ 7%
Cash	€ 448,992 Cash 2022: € 448,992 First fiscal year in the series	€ 17,333 Cash 2023: € 17,333 ▼ 96% vs 2022 (€ 448,992) Unfavourable step	€ 342 Cash 2024: € 342 ▼ 98% vs 2023 (€ 17,333) Unfavourable step	€ 177 Cash 2025: € 177 ▼ 48% vs 2024 (€ 342) Unfavourable step	▼ 48%
Land & buildings	€ 7,608,257 Land & buildings 2022: € 7,608,257 First fiscal year in the series	€ 8,751,318 Land & buildings 2023: € 8,751,318 ▲ 15% vs 2022 (€ 7,608,257) Unchanged	€ 8,669,651 Land & buildings 2024: € 8,669,651 ▼ 1% vs 2023 (€ 8,751,318) Unchanged	€ 8,854,177 Land & buildings 2025: € 8,854,177 ▲ 2% vs 2024 (€ 8,669,651) Unchanged	▲ 2%
Retained profit	€ 9,926,503 Retained profit 2022: € 9,926,503 First fiscal year in the series	€ 10,225,798 Retained profit 2023: € 10,225,798 ▲ 3% vs 2022 (€ 9,926,503) Favourable step	€ 20,728,955 Retained profit 2024: € 20,728,955 ▲ 103% vs 2023 (€ 10,225,798) Favourable step	€ 20,970,101 Retained profit 2025: € 20,970,101 ▲ 1% vs 2024 (€ 20,728,955) Favourable step	▲ 1%
Dividend	€ 300,000 Dividend 2022: € 300,000 First fiscal year in the series	€ 0 Dividend 2023: € 0 ▼ 100% vs 2022 (€ 300,000) Unchanged	€ 0 Dividend 2024: € 0 Unchanged (€ 0) Unchanged	€ 0 Dividend 2025: € 0 Unchanged (€ 0) Unchanged
Bank debt	€ 870,010 Bank debt 2022: € 870,010 First fiscal year in the series	€ 2,740,108 Bank debt 2023: € 2,740,108 ▲ 215% vs 2022 (€ 870,010) Unfavourable step	€ 2,407,827 Bank debt 2024: € 2,407,827 ▼ 12% vs 2023 (€ 2,740,108) Favourable step	€ 2,594,088 Bank debt 2025: € 2,594,088 ▲ 8% vs 2024 (€ 2,407,827) Unfavourable step	▲ 8%
Balance sheet total	€ 25,274,063 Balance sheet total 2022: € 25,274,063 First fiscal year in the series	€ 36,382,227 Balance sheet total 2023: € 36,382,227 ▲ 44% vs 2022 (€ 25,274,063) Unchanged	€ 37,653,481 Balance sheet total 2024: € 37,653,481 ▲ 3% vs 2023 (€ 36,382,227) Unchanged	€ 38,411,796 Balance sheet total 2025: € 38,411,796 ▲ 2% vs 2024 (€ 37,653,481) Unchanged	▲ 2%
Employees (FTE)	7.2 Employees (FTE) 2022: 7.2 First fiscal year in the series	7.4 Employees (FTE) 2023: 7.4 ▲ 0.2 vs 2022 (7.2) Unchanged	10.4 Employees (FTE) 2024: 10.4 ▲ 3 vs 2023 (7.4) Unchanged	13.5 Employees (FTE) 2025: 13.5 ▲ 3.1 vs 2024 (10.4) Unchanged	▲ 3.1

Key figures of ARSU, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.

What happened to ARSU?

What happened at ARSU in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:

2029 Kristof Spegelaere stepped down as director. NBB
2029 Jan Spegelaere stepped down as director. NBB
2029 Stefaan Spegelaere stepped down as director. NBB
Jul 31, 2026 New annual accounts for financial year 2025: profit of € 232,528 (▼ 98% vs 2024). Source: NBB ↗
2017 Kristof Spegelaere became a director. NBB
2017 Jan Spegelaere became a director. NBB
2017 Stefaan Spegelaere became a director. NBB
Oct 7, 1996 New establishment in Ichtegem. KBO

In short

From € 652,485 profit in 2022 to € 232,528 profit in 2025.

Paid € 504,009 in corporate taxes since 2022.

Best year ever: 2024, with € 10.5 million profit.

On average € 259,100 of value added per employee in 2023.

Original PDFs at the National Bank ↗

Management

ARSU

Eernegemse Supermarkt 100%

Oudenburgse Supermarkt 100%

Jabbeekse Supermarkt 100%

Fera 100%

It owns 100% of Eernegemse Supermarkt, 100% of Oudenburgse Supermarkt, 100% of Jabbeekse Supermarkt, 100% of Fera, 100% of Joto and 99.4% of Fresh Spegelaere itself.

Directors

According to the 2025 annual accounts

Kristof Spegelaere

Managing director

Also active at: Handelaars in Voeding Van Noord en Zuid Vlaanderen, JABBEEKSE SUPERMARKT, FERA, FRESH SPEGELAERE, Sea Shopping, Leburo

since 2017 · until 2029

Jan Spegelaere

Managing director

Also active at: OUDENBURGSE SUPERMARKT, FERA, FRESH SPEGELAERE, Sea Shopping, Leburo

since 2017 · until 2029

Stefaan Spegelaere

Managing director

Also active at: FERA, FRESH SPEGELAERE, JOTO, Sea Shopping, Leburo

since 2017 · until 2029

Establishments

Establishment units

Physical locations of this company

Registered office

Zevekoteheirweg 89

8470 Gistel

2.040.005.713

Fabriekweg(EER) 5

8480 Ichtegem

Active since 7 October 1996

Who else lives here?

A building full of entrepreneurs or one very busy letterbox? Another 2 companies are registered at this address.

All companies at this address →

FRESH SPEGELAERE same network

€ 30.9 million revenue · 2025

BTW Eenheid Spegelaere

What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.

Details

Company number

0452.991.681

VAT number

BE 0452.991.681

Registered office

Zevekoteheirweg 89, 8470 Gistel

Names & denominations

ARSU

Enterprise type

Rechtspersoon

Legal form

Public limited company

Legal situation

Normale toestand

Start date

28 June 1994

Peppol

Active · Active since 1 Jan 2001

Activities · NACE

Verhuur en exploitatie van eigen of geleased niet-residentieel onroerend goed, exclusief terreinen

Verhuur van niet-residentiële gebouwen

Verhuur van woningen, exclusief sociale woningen

Verhuur en exploitatie van eigen of geleased residentieel onroerend goed, exclusief sociale woningen

Overige fiscale dienstverlening

Accountants en belastingconsulenten

View on CBE Public ↗ Annual accounts (NBB) ↗

ARSU

Warning lights

Financials

What happened to ARSU?

Management

Directors

Establishments

Establishment units

Who else lives here?

Details

Frequently asked questions