Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Negative equity NBB
More debt than assets in 3 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2023 and 2024.
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Late annual account NBB
Fiscal year 2024 was filed 455 days after the legal deadline.
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Busy address KBO
42 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2024
Arts 44 from Watermaal-Bosvoorde, company number BE0634735534, closed financial year 2024 with a result of € -42,972 after tax. For that financial year Arts 44 recorded a gross margin of € 2.3 million and equity of € -4.9 million. Compared with financial year 2023, the result moved from € -2.6 million to € -42,972. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on October 29, 2026.
€ -4.9 million
▼ € 42,972 vs 2023
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -42,972
▲ 98 % less loss than in 2023
Profit after tax over the fiscal year.
€ 5 million
▲ 23% vs 2023
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -7.5 million.
People and assets in 2024
€ 243,191
▼ 15% vs 2023
Book value of vehicles, furniture and equipment.
Debts at end 2024
€ 28.6 million
€ 1 million is repaid this year. At this pace the long-term loan is gone in ≈ 29 years.
€ 430,170
▲ 30% vs 2023
Supplier invoices still open on the last day of the fiscal year.
€ 17,781
▼ 90% vs 2023
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2021 | 2022 | 2023 | 2024 | Change 2023 → 2024 | |
|---|---|---|---|---|---|
| Gross margin | € -89,060 | € -505,492 | € 1,044,715 | € 2,303,396 | ▲ 120% |
| Profit after taxes | € -1,632,670 | € -2,584,739 | € -2,556,553 | € -42,972 | ▲ € 2.5 million |
| Equity | € 241,396 | € -2,343,344 | € -4,899,897 | € -4,942,869 | ▼ € 42,972 |
| Total debts | € 23,204,272 | € 25,522,355 | € 30,745,160 | € 31,057,621 | ▲ 1% |
| Cash | € 2,213,183 | € 662,669 | € 4,060,071 | € 4,977,259 | ▲ 23% |
| Land & buildings | € 20,429,207 | € 20,984,805 | € 20,435,465 | € 19,911,721 | ▼ 3% |
| Retained profit | € -2,358,604 | € -4,943,344 | € -7,499,897 | € -7,542,869 | ▼ € 42,972 |
| Bank debt | € 21,519,930 | € 23,757,300 | € 28,688,185 | € 28,570,651 | |
| Balance sheet total | € 23,445,668 | € 23,179,012 | € 25,845,263 | € 26,114,752 | ▲ 1% |
Key figures of Arts 44, fiscal years 2021 to 2024, from the annual accounts filed with the National Bank of Belgium.The annual account for fiscal year 2025 has not been filed yet; it was expected before 31 July 2026.
What happened to Arts 44?
What happened at Arts 44 in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2024: loss of € 42,972. filed late Source: NBB ↗
- Neil SMITH became a director. NBB
- Emily HARRIS stepped down as director. NBB
- Emily HARRIS became a director. NBB
- Julian FELDMAN became a director. NBB
- Michael GOLDBERG became a director. NBB
- Michael KOVACS became a director. NBB
- New establishment in Brussel. KBO
In short
From € 1.6 million loss in 2021 to € 42,972 loss in 2024.
Paid € 1,035 in corporate taxes since 2021.
Management
Behind Arts 44 are Neil SMITH, Julian FELDMAN, Michael GOLDBERG and Michael KOVACS. The same people are also behind Maritiem Huis. Michael GOLDBERG is also behind SOGESMAINT, Phicap Group and PHICAP PROJECT MANAGEMENT.
Directors
According to the 2024 annual accounts
since 2026
since 2018
Michael GOLDBERG
Director
Also active at: SOGESMAINT, Maritiem Huis, Phicap Group, PHICAP PROJECT MANAGEMENT
since 2018
since 2018
since 2023 · until 2026
Establishments
Establishment units
Physical locations of this company
Vorstlaan 100
1170 Watermaal-Bosvoorde
Kunstlaan 44
1000 Brussel
Active since 30 July 2015
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 42 companies are registered at this address.
All companies at this address →Alcotra Holding
SHEARSON LEHMAN GLOBAL ASSET MANAGEMENT
ALCODIS
€ 905.3 million revenue · 2025
MOREAU ET ASSOCIES
€ 27,360 gross margin · 2025
COFACE BELGIUM SERVICES
€ 5 million revenue · 2025
+37 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0634.735.534
- VAT number
- BE 0634.735.534
- Registered office
- Vorstlaan 100, 1170 Watermaal-Bosvoorde
- Names & denominations
- Arts 44
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 30 July 2015
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Verhuur en exploitatie van eigen of geleased residentieel onroerend goed, exclusief sociale woningen