A F C +

Active

Private limited companyfounded 200224 yrs activeRue des Trois-Rivages 16, 4020 Liège, BelgiumKBO/BCE: BE 0476.872.190

The annual accounts of A F C + for fiscal year 2025 show a net loss of 94% of the equity at the start of that year. The 2025 annual accounts show equity of €651 and a net result of €-9k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 10% of 31544 sector peers (fiscal year 2025). The company has been active since 2002 and the Belgian State Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is 0.3% (very low).

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Checked score

Score 2025

37 / 100

Weak

The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability0▼-76

Solvency27▼-9

Growth52▼-26

Track record100

Bankruptcy probability, 12 months

0.3% Very low

0%0.5%1.5%4%10%≥ 25%

No publishable credit limit; credit only on tighter terms

Net loss of at least half of total assets or of the equity at the start of the financial year.

Liquidity short (current ratio 0.58 against 0.85 in 2024; short-term debt: 98.2% and cash: 11.5% of total assets), and 98.2% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Nine signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 70

Relative position

BE, all sectors

reference

Sector 70

lower

← fewer bankruptcies more bankruptcies →

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Annual accounts: weaker financial profile

The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

1.8%

Return on assets

-26.1%

Age of the figures

15 mo

Multiple establishment units

Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.

KBO · establishment units

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 10% of 31544 sector peers (2025).

NBB · sector comparison

Position among 31544 sector peers

Solvency

better than 10%

← weakest strongest →

A punctual record breaks

This company filed 3 consecutive financial years on time. The year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 25-03-2026, 53 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.

NBB · 10 filings

Deviation from the deadline

2025

53 d late

2024

on the day

2023

19 d early

2022

on the day

2021

270 d late

2020

19 d late

2019

3 d early

← before the deadline after the deadline →

The next deadline is still running

The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.

Companies Code · seven months

Position in the running window

30-06-2026 close16-09-2026 today31-01-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, micro schema

Equity

€651▼ 93.6%

2024 · €10k

2019: €-8k 2020: €2k 2021: €8k 2022: €98k 2023: €53k 2024: €10k

2019 → 2025

Total assets

€36k▼ 61.9%

2024 · €95k

2019: €27k 2020: €30k 2021: €47k 2022: €216k 2023: €161k 2024: €95k

2019 → 2025

Net result

€-9k

2024 · €6k

2019: €-7k 2020: €10k 2021: €26k 2022: €114k 2023: €13k 2024: €6k

2019 → 2025

Working capital

€-15k▼ 13.2%

2024 · €-13k

2019: €-10k 2020: €-221 2021: €8k 2022: €61k 2023: €22k 2024: €-13k

2019 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Equity€8k-€98k▲ 1,114%€53k▼ 46.2%€10k▼ 80.7%€651▼ 93.6%

Operating result€38k-€157k▲ 311%€19k▼ 87.9%€8k▼ 56.0%€-10k

Net result€26k-€114k▲ 332%€13k▼ 88.2%€6k▼ 58.9%€-9k

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result turns negative in 2025: a loss of €10k after €8k in 2024, the lowest result in the available series.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €36k

42.7%

57.3%

Fixed assets €16k▼ 33.4%

Current assets €21k▼ 71.1%

Equity and liabilities €36k

98.2%

Equity €651▼ 93.6%

Debt €36k▼ 58.1%

The debt ratio rises from 89.4% to 98.2%. Equity and debt are lower.

Key figures and ratios

2025 value · change against 2024

EBITDA

€-2k▼

2024 · €16k

Cash flow

€-2k▼

2024 · €13k

Solvency

1.8%▼

2024 · 10.6%

Current ratio

0.58▼

2024 · 0.85

Quick ratio

0.58▼

2024 · 0.85

ROA

-26.1%▼

2024 · 5.8%

Interest coverage

-4.20▼

2024 · 41.15

Debt

€36k▼

2024 · €85k

Debt ≤ 1 year

€36k▼

2024 · €85k

Income taxes

€542▼

2024 · €5k

Staff costs

€0▼

2024 · €2k

Equity ratios withheld: equity of €651 is too small for a meaningful ratio.

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2025 against 2024

Balance sheet Code20242025

Assets

Total assets20/58€95k€36k▼

Fixed assets21/28€23k€16k▼

Tangible fixed assets22/27€23k€16k▼

Furniture and vehicles24€22k€14k▼

Other tangible fixed assets26€2k€1k▼

Current assets29/58€72k€21k▼

Amounts receivable within one year40/41€35k€14k▼

Trade receivables40€4k€4k=

Other amounts receivable41€31k€10k▼

Cash at bank and in hand54/58€34k€4k▼

Deferred charges and accrued income490/1€3k€2k▼

Equity and liabilities

Total equity and liabilities10/49€95k€36k▼

Equity10/15€10k€651▼

Contributions10/11€6k€6k=

Reserves13€2k€2k=

Non-distributable reserves130/1€2k€2k=

Reserves not available under the articles1311€2k€2k=

Profit (loss) carried forward14€2k€-7k▼

Amounts payable17/49€85k€36k▼

Amounts payable within one year42/48€85k€36k▼

Trade debts44€101€4k▲

Suppliers440/4€101€4k▲

Taxes, remuneration and social security45€37k€32k▼

Taxes450/3€37k€32k▼

Other amounts payable47/48€48k€0▼

Accrued charges and deferred income492/3€0-

Income statement Code20242025

Remuneration, social security and pensions62€2k€0▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8k€8k=

Other operating charges640/8€2k€917▼

Gross operating margin9900€21k€-1k▼

Operating profit (loss)9901€8k€-10k▼

Financial income75/76B€2k€2k▼

Recurring financial income75€2k€2k▼

Financial charges65/66B€392€574▲

Recurring financial charges65€392€574▲

Profit (loss) for the period before taxes9903€10k€-9k▼

Income taxes67/77€5k€542▼

Profit (loss) for the period9904€6k€-9k▼

Profit (loss) for the period to be appropriated9905€6k€-9k▼

Appropriation of the result

Profit (loss) to be appropriated9906€50k€-7k▼

Profit (loss) brought forward from the previous period14P€45k€2k▼

Profit to be distributed694/7€48k€0▼

Return on contributions (dividend)694€48k€0▼

The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 13Financial 3Filings 10

Next filing, fiscal year 2026, expected by 31-01-2027

2026

25-03

NBB filing Annual accounts filed

fiscal year 2025 · micro schema · 53 days late

2025

30-06

Financial Weakest financial yearnet €-9k ▼272%

Net result drops to €-9k, the lowest in the series.

31-01

NBB filing Annual accounts filed

fiscal year 2024 · micro schema

2024

12-01

NBB filing Annual accounts filed

fiscal year 2023 · micro schema

2023

31-01

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

28-10

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 270 days late

30-06

Financial Highest result since 2019net €114k ▲332%

Operating result €157k, net result €114k, both a record.

2021

19-02

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 19 days late

2020

30-06

Financial Back to profitnet €10k

Net result €10k after one loss-making year.

28-01

NBB filing Annual accounts filed

fiscal year 2019 · micro schema

2019

22-02

NBB filing Annual accounts filed

fiscal year 2018 · micro schema · 22 days late

2018

29-01

NBB filing Annual accounts filed

fiscal year 2017 · micro schema

2017

14-03

NBB filing Annual accounts filed

fiscal year 2016 · full schema · 42 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

7 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.

Location & real-estate footprint

Registered office, Liège · 2 establishment units since 2002

establishment All 2 establishment units on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Rue des Trois-Rivages 164020 Liège

Ground area

2,637 m²

Building footprint

287 m²

Volume, LiDAR

2,012 m³

3 parcels, Wallonia · tallest building 10.1 m, ±3 floors. Linked by address, not a title deed.

2 establishment units

Establishment

Other professional, scientific and technical activities

since 20022.098.946.871

GROUPEXPERT

Rue de Beauregard(PLX) 3, 4122 NeupréReal estate activities

since 20102.189.319.001

3 parcels

Wallonia 3 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
62081B0018/00N000	Wallonia	1,336 m²	1 · 95 m²	9.2 m · 2 fl.
62081A0124/00P000	Wallonia	1,121 m²	1 · 109 m²	7.6 m · 2 fl.
62113B1052/00B000	Wallonia	180 m²	1 · 83 m²	10.1 m · 3 fl.