Summary
A.forall Development is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2024 annual accounts show equity of €39.3m and a net result of €12.3m. Equity is shrinking by ~7.3% per year across the filed fiscal years. Its solvency ranks better than 62% of 6155 sector peers (fiscal year 2024). The company has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 09-09-2025, 40 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 9 filingsDeviation from the deadline
2025
not confirmed
2024
40 d late
2023
22 d early
2022
29 d late
2021
26 d early
2020
40 d late
2019
17 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 7 days after the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
Checked, nothing found (1)
History
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How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check Which other companies belong to the same group?A.forall Group · 9 companies What changed in the latest annual accounts?What changed
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Financials · fiscal year 2024, abbreviated schema, statutory accounts
In the rankings
#6 company by equity in Anderlecht, Finance and insurance sector#8 company by total assets in Anderlecht, Finance and insurance sector
Equity
€39.3m▼ 24.4%
2023 · €51.9m
Net result
€12.3m▲ 453%
2023 · €2.2m
Total assets
€61.2m▼ 17.0%
2023 · €73.7m
Solvency
64.2%▼ 6.3pp
2023 · 70.4%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Turnover
Operating result-€3.9m▼ 232%-€1.6m▲ 60.0%-€337,088▲ 78.3%€2.4m€2.2m▼ 7.7%
Net result-€2.0m€28.3mabove the sector's middle half-€598,679below the sector's middle half€2.2mabove the sector's middle half€12.3mabove the sector's middle half▲ 453%
Equity€88.0m▼ 2.3%€50.3mabove the sector's middle half▼ 42.9%€49.7mabove the sector's middle half▼ 1.2%€51.9mabove the sector's middle half▲ 4.5%€39.3mabove the sector's middle half▼ 24.4%
Total assets€106.9m▲ 15.5%€65.6mabove the sector's middle half▼ 38.6%€66.4mabove the sector's middle half▲ 1.1%€73.7mabove the sector's middle half▲ 11.1%€61.2mabove the sector's middle half▼ 17.0%
Debt€18.9m▲ 655%€15.3m▼ 18.7%€16.7m▲ 8.7%€21.8m▲ 30.9%€21.9m▲ 0.5%
Working capital€41.4m▼ 42.5%€2.5m▼ 93.9%-€673,414-€1.5m▼ 127%-€15.4m▼ 907%
Solvency82.4%▼ 14.9pp76.6%within the sector's middle half▼ 5.7pp74.9%within the sector's middle half▼ 1.7pp70.4%within the sector's middle half▼ 4.5pp64.2%within the sector's middle half▼ 6.3pp
Staff (FTE)15.8▼ 38.8%12.2above the sector's middle half▼ 22.8%11.8above the sector's middle half▼ 3.3%11.3above the sector's middle half▼ 4.2%10.6above the sector's middle half▼ 6.2%
above
within
below
the middle half (P25 to P75) of NACE 64, Financial service activities, except insurance and pension funding, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 8% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €61.2m
Fixed assets
€54.6m ▲ 2.1%
Current assets
€6.5m ▼ 67.7%
Equity and liabilities €61.2m
Equity
€39.3m ▼ 24.4%
Debt
€21.9m ▲ 0.5%
Debt's share of the balance-sheet total rises from 29.6% to 35.8%. Equity is lower and debt is higher.
Key figures and ratios
ROE
31.4%▲
2023 · 4.3%
ROA
20.2%▲
2023 · 3.0%
Debt ≤ 1 year
€21.9m▲
2023 · €21.7m
Income taxes
€420,598
Staff costs
€1.8m▼
2023 · €1.9m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €2,000 | €144,396 | - | €216,250 | €14,586 | ▼ 93.3% |
| Remuneration, social security and pensions62 | €1.8m | €1.7m | €1.9m | €1.9m | €1.8m | ▼ 2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €256,969 | €481,480 | €666,064 | €1.0m | €1.2m | ▲ 16.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €5,253 | - | €6,260 | - | €5,601 | - |
| Other operating charges640/8 | €83,253 | €82,264 | €144,773 | - | €8,303 | - |
| Non-recurring operating charges66A | €3.7m | €848,065 | €7,371 | - | €20,000 | - |
| Gross operating margin9900 | €2.0m | €1.5m | €2.4m | €5.3m | €5.2m | ▼ 0.6% |
| Operating profit (loss)9901 | -€3.9m | -€1.6m | -€337,088 | €2.4m | €2.2m | ▼ 7.7% |
| Financial income75/76B | €2.2m | €30.5m | €480,076 | €759,622 | €11.9m | ▲ 1,463% |
| Recurring financial income75 | €2.2m | €30.5m | €480,076 | €759,622 | €11.9m | ▲ 1,463% |
| Financial charges65/66B | €264,682 | €690,419 | €741,563 | €898,959 | €1.3m | ▲ 45.1% |
| Recurring financial charges65 | €264,682 | €689,804 | €741,563 | €898,959 | €1.3m | ▲ 45.1% |
| Non-recurring financial charges66B | - | €615 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | -€1.9m | €28.3m | -€598,575 | €2.2m | €12.8m | ▲ 472% |
| Income taxes67/77 | €14,086 | -€15,710 | €105 | - | €420,598 | - |
| Profit (loss) for the period9904 | -€2.0m | €28.3m | -€598,679 | €2.2m | €12.3m | ▲ 453% |
| Profit (loss) for the period to be appropriated9905 | -€2.0m | €28.3m | -€598,679 | €2.2m | €12.3m | ▲ 453% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €106.9m | €65.6m | €66.4m | €73.7m | €61.2m | ▼ 17.0% |
| Fixed assets21/28 | €48.1m | €47.8m | €50.4m | €53.5m | €54.6m | ▲ 2.1% |
| Intangible fixed assets21 | €3.8m | €3.6m | €6.2m | €9.3m | €10.5m | ▲ 12.3% |
| Tangible fixed assets22/27 | €142,455 | €110,778 | €70,615 | €46,146 | €30,011 | ▼ 35.0% |
| Plant, machinery and equipment23 | €115,344 | €89,067 | €53,821 | €34,267 | €23,062 | ▼ 32.7% |
| Furniture and vehicles24 | €470 | - | - | - | - | - |
| Other tangible fixed assets26 | €26,641 | €21,711 | €16,794 | €11,879 | €6,949 | ▼ 41.5% |
| Financial fixed assets28 | €44.1m | €44.1m | €44.1m | €44.1m | €44.1m | = |
| Current assets29/58 | €58.8m | €17.8m | €16.0m | €20.2m | €6.5m | ▼ 67.7% |
| Amounts receivable within one year40/41 | €58.2m | €17.4m | €15.4m | €19.7m | €5.3m | ▼ 73.1% |
| Trade receivables40 | €4.4m | €1.6m | €1.9m | €3.5m | €3.4m | ▼ 2.4% |
| Other amounts receivable41 | €53.8m | €15.8m | €13.5m | €16.3m | €1.9m | ▼ 88.2% |
| Cash at bank and in hand54/58 | €528,258 | €364,094 | €465,800 | €272,379 | €1.1m | ▲ 306% |
| Deferred charges and accrued income490/1 | €99,759 | €108,263 | €92,986 | €202,098 | €110,231 | ▼ 45.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €106.9m | €65.6m | €66.4m | €73.7m | €61.2m | ▼ 17.0% |
| Equity10/15 | €88.0m | €50.3m | €49.7m | €51.9m | €39.3m | ▼ 24.4% |
| Contributions10/11 | €19.6m | €19.6m | €19.6m | €19.6m | €19.6m | = |
| Capital10 | €19.2m | €19.2m | €19.2m | €19.2m | €19.2m | = |
| Issued capital100 | €19.2m | €19.2m | €19.2m | €19.2m | €19.2m | = |
| Outside capital11 | €420,166 | €420,166 | €420,166 | €420,166 | €420,166 | = |
| Share premium1100/10 | €420,166 | €420,166 | €420,166 | €420,166 | €420,166 | = |
| Reserves13 | €1.9m | €1.9m | €1.9m | €1.9m | €1.9m | = |
| Non-distributable reserves130/1 | €1.9m | €1.9m | €1.9m | €1.9m | €1.9m | = |
| Legal reserve130 | €1.9m | €1.9m | €1.9m | €1.9m | €1.9m | = |
| Profit (loss) carried forward14 | €66.5m | €28.7m | €28.1m | €30.4m | €17.7m | ▼ 41.7% |
| Amounts payable17/49 | €18.9m | €15.3m | €16.7m | €21.8m | €21.9m | ▲ 0.5% |
| Amounts payable within one year42/48 | €17.4m | €15.3m | €16.7m | €21.7m | €21.9m | ▲ 0.7% |
| Trade debts44 | €4.7m | €1.8m | €3.0m | €3.5m | €3.2m | ▼ 8.9% |
| Suppliers440/4 | €4.7m | €1.8m | €3.0m | €3.5m | €3.2m | ▼ 8.9% |
| Taxes, remuneration and social security45 | €340,528 | €349,301 | €406,355 | €389,894 | €393,796 | ▲ 1.0% |
| Taxes450/3 | €20,046 | €8,899 | €1,206 | €8,762 | €53,113 | ▲ 506% |
| Remuneration and social security454/9 | €320,482 | €340,403 | €405,149 | €381,132 | €340,683 | ▼ 10.6% |
| Other amounts payable47/48 | €12.4m | €13.2m | €13.3m | €17.9m | €18.3m | ▲ 2.6% |
| Accrued charges and deferred income492/3 | €1.5m | - | - | €51,210 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€2.0m | €28.3m | -€598,679 | €2.2m | €12.3m | ▲ 453% |
| + Depreciation and write-downs630 | €256,969 | €481,480 | €666,064 | €1.0m | €1.2m | ▲ 16.6% |
| Operating cash flow (approximation) | -€1.7m | €28.8m | €67,385 | €3.3m | €13.5m | ▲ 316% |
| Investment in fixed assets (approximation) | - | -€191,981 | -€3.3m | -€4.2m | -€2.3m | ▲ 44.0% |
| Change in cash | - | -€164,164 | €101,706 | -€193,422 | €833,656 | ▲ 531% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
09-09
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 40 days late
2024
09-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Back to profitnet €2.2m
Net result €2.2m after one loss-making year.
31-12
Financial
Equity above €50mEq €51.9m ▲4.5%
Equity rises from €49.7m to €51.9m.
29-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 29 days late
2022
05-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €28.3m
Net result €28.3m after one loss-making year.
09-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 40 days late
2020
31-12
Financial
Weakest financial yearnet -€2.0m
Net result drops to -€2.0m, the lowest in the series; recovery starts the following year.
14-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Back to profitnet €74.5m
Net result €74.5m after one loss-making year.
31-12
Financial
Liquidity times 58current ratio 30.44
Current ratio from 0.52 to 30.44; short-term debt falls from €32.5m to €2.4m.
Show earlier events
31-12
Financial
Equity above €50mEq €90.1m ▲478%
Equity rises from €15.6m to €90.1m.
10-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
20-11
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 20 days late
2017
21-11
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 21 days late
21-11
NBB filing
Annual accounts filed
fiscal year 2017 · consolidated · 21 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 34 acts read
About the unread acts
We know of 34 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
34 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, Anderlecht · 1 establishment unit since 2010
Ground area
5,534 m²
Building footprint
1,445 m²
Volume, LiDAR
24,182 m³
Parcel 21307F0088/00F000, Brussels · tallest building 21.7 m, ±6 floors. Linked by address, not a title deed.
10
companies at this address
See who is registered here
1 establishment unit
A.forall Development
since 20102.190.539.914
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21307F0088/00F000 | Brussels | 5,534 m² | 1 · 1,445 m² | 21.7 m · 6 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Part of the group
A.forall Group
9 companies
Group, risk and exposure
Owners and holdings
1 owner · 5 holdingsChain of control
- A.forall Group
- A.forall Development
Highest known parent: A.forall Group. The sources do not say who stands above it.
Owners 1
- A.forall Groupparent100%
Holdings 5
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100%
-
100%
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100%
-
100%
-
100%
According to the 2024 annual accounts of A.forall Development and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
Recognitions · licences · registrations
Legal Entity Identifier
549300W4FKNQETP00115
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,773. 3,069 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded15-07-2010
Fiscal year end31-12
Activities, NACEBEL 2025
21201
64210Activities of holding companies
E-invoicing
Reachable via Peppol
Peppol ID
0208:0827869165
Also
9925:BE0827869165
Registered
29-12-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.