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 6 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
ARPG Management from Liège, company number BE0861920125, closed financial year 2025 with a result of € -18,575 after tax. For that financial year ARPG Management recorded a gross margin of € -1,616 and equity of € 244,838. Compared with financial year 2024, the result moved from € 37,478 to € -18,575. The company made a loss. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on June 30, 2026.
€ 244,838
▼ 7% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -18,575
▼ still € 37,478 profit in 2024
Profit after tax over the fiscal year.
€ 197
▼ 87% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 226,238.
Debts at end 2025
€ 689,846
▼ 65% vs 2024
€ 162,294 is repaid this year. At this pace the long-term loan is gone in ≈ 3 years.
€ 169,592
▼ 1% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 14,936
▼ 1% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 206,685 | € 143,765 | € 138,531 | € -1,616 | ▼ € 140,147 |
| Profit after taxes | € 51,299 | € 14,334 | € 37,478 | € -18,575 | ▼ € 56,054 |
| Equity | € 211,601 | € 225,935 | € 263,414 | € 244,838 | ▼ 7% |
| Total debts | € 2,457,334 | € 2,415,618 | € 2,147,684 | € 1,217,542 | ▼ 43% |
| Cash | € 2,624 | € 22,470 | € 1,462 | € 197 | ▼ 87% |
| Retained profit | € 193,001 | € 207,335 | € 244,814 | € 226,238 | ▼ 8% |
| Bank debt | € 2,263,726 | € 2,128,413 | € 1,947,826 | € 689,846 | ▼ 65% |
| Balance sheet total | € 2,668,935 | € 2,641,553 | € 2,411,097 | € 1,462,380 | ▼ 39% |
| Employees (FTE) | 1 | 1 | 1 | - |
Key figures of ARPG Management, 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 ARPG Management?
What happened at ARPG Management in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 18,575 (▼ € 56,054 vs 2024). Source: NBB ↗
- Patrice DELHEZ became a director. NBB
- André MARTIN became a director. NBB
- BEJOY SRL became a director. NBB
- GEHLEN MANAGEMENT SRL became a director. NBB
- New establishment in Liège. KBO
- Start of the company according to the CBE. KBO
In short
From € 51,299 profit in 2022 to € 18,575 loss in 2025.
Paid € 46,783 in corporate taxes since 2022.
Best year ever: 2022, with € 51,299 profit.
On average € 138,500 of value added per employee in 2024.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of GEHLEN MANAGEMENT, BEJOY comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
ARPG ManagementBehind ARPG Management are André MARTIN, BEJOY SRL, GEHLEN MANAGEMENT SRL and Patrice DELHEZ. The shares are held by GEHLEN MANAGEMENT (20%) and BEJOY (16%). It owns 99.9% of ENTREPRISE J.DEFLANDRE & FILS and 94% of CREAWORK itself.
Directors
According to the 2025 annual accounts
André MARTIN
Administrateur
since 2020
Managing director · represented by Roger GEHLEN
Also active at: UNIMMO, GEHLEN IMMO, ETABLISSEMENTS PAULY - ANDRIANNE, COVEBAT, G-Bois, COMBLAIN MOTORS, ROGER GEHLEN, SERBI +27 more
since 2017
since 2023
Shareholders
16%
Participations
94%
Establishments
Establishment units
Physical locations of this company
Rue du Charbonnage 21
4020 Liège
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 3 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0861.920.125
- VAT number
- BE 0861.920.125
- Registered office
- Rue du Charbonnage 21, 4020 Liège
- Names & denominations
- ARPG Management
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 28 November 2003
- Peppol
- Active · Active since 10 Sept 2025
- Activities · NACE
Activiteiten van holdings
Holdings