Equity
Equity fell by 50% in 3 years.
Equity fell by 50% in 3 years.
The accounts state no turnover.
Of this, €616,371 falls due within a year.
Mandates to pledge the business, new in 2025. 1.8 times equity · not in the 2024 accounts.
In 2025, 10 people joined and 10 left.
The last five annual accounts were filed 15 to 98 days before the end of the period.
The dashed line is the sector median: 0.7% across 47,693 companies (NACE 43, micro).
About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 43, micro). It does better than 27% of them on solvency, 9% on liquidity, 18% on profitability and 41% on growth.
The bankruptcy probability was computed on 08-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the low class on 30-06-2025, 0.8% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
In July 2024, 3,984 companies had the same profile as A-FRAMES has now. Each dot stands for 10 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of A-FRAMES itself: 1.2% within 12 months.
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 3,984 companies, not a prediction for A-FRAMES. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Liquidity is tight, with a current ratio of 1.24 (1.19 in 2024), below the usual 1.5. Short-term debt is 69.3% and cash 2.5% of total assets. 74.9% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 39 days before the deadline. In the sector (NACE 43), the median for financial year 2024 was 1 day before the deadline, and 43% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| A-FRAMES Bocholt | €889,497 | €619,590 | 25.1% | 6.8 |
| GS-INTERIEUR Nieuwerkerken (Limb.) | €961,094 | €552,499 | 42.3% | 6.8 |
| PELLENS Peer | €941,647 | €621,232 | 42.0% | 7.5 |
| MEUKENS Beringen | €900,896 | €470,464 | 24.9% | 7 |
| B MINUS Kortrijk | €975,591 | €564,470 | 26.6% | 6.1 |
| DV-TEC Kortrijk | €797,249 | €582,366 | 62.6% | 5.8 |
| VERLINDEN Rijkevorsel | €947,408 | €485,479 | 18.4% | 6.6 |
These companies have the same main activity as A-FRAMES: joinery installation (NACE 43320). They are comparable in size and age: total assets between €797,000 and €976,000, founded between 1992 and 2000.
A-FRAMES files the abbreviated format. That format states no turnover. The gross margin rose from €161,105 in 2006 to €619,590 in 2025.
A-HOLDING holds all the shares.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €1.8m. Estimated: probably between €1.3m and €2.3m.
Higher than 26% of 9,967 companies in 2025.
Higher than 30% of 9,830 companies in 2025.
Higher than 25% of 9,899 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half · Staff: middle half
Staff costs divided by the average number of full-time equivalents.
In 2025, 10 people joined and 10 left.
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||||||
20/58 |
889,497 | 1.0m | 885,557 | 512,661 | 575,517 | 640,802 | 796,001 | 811,080 | 346,693 | 310,319 | 339,357 | 527,554 | 350,585 | 356,274 | 465,577 | 493,601 | 637,865 | 735,211 | 554,403 | 308,045 | |
20 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 29 | 143 | |
21/28 |
124,439 | 161,812 | 155,439 | 91,398 | 127,296 | 220,546 | 302,378 | 388,600 | 165,342 | 117,137 | 144,631 | 163,229 | 170,273 | 163,888 | 231,294 | 301,709 | 359,062 | 352,673 | 279,790 | 152,134 | |
22/27 |
123,564 | 160,937 | 155,064 | 91,023 | 126,921 | 220,171 | 302,003 | 388,225 | 164,967 | 116,762 | 144,256 | 162,854 | 169,898 | 163,513 | 230,919 | 301,334 | 358,687 | 352,298 | 279,386 | 151,616 | |
22 |
0 | 39,891 | 41,460 | 43,029 | 44,599 | 46,168 | 47,765 | 49,416 | 52,721 | 62,078 | 72,523 | 72,027 | 81,377 | 90,728 | 100,079 | 102,554 | 108,276 | 117,691 | 119,725 | 122,175 | |
23 |
17,870 | 18,153 | 26,063 | 31,780 | 73,470 | 140,714 | 207,853 | 274,667 | 26,898 | 26,886 | 29,365 | 30,785 | 39,751 | 49,901 | 89,426 | 138,836 | 184,704 | 234,607 | 152,701 | 15,521 | |
24 |
7,043 | 13,723 | 7,373 | 16,214 | 8,852 | 33,289 | 46,385 | 64,143 | 85,348 | 27,798 | 42,368 | 60,042 | 48,769 | 22,884 | 41,414 | 59,945 | 65,706 | - | 6,960 | 13,920 | |
25 |
98,651 | 89,170 | 80,167 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
28 |
875 | 875 | 375 | 375 | 375 | 375 | 375 | 375 | 375 | 375 | 375 | 375 | 375 | 375 | 375 | 375 | 375 | 375 | 375 | 375 | |
29/58 |
765,058 | 882,122 | 730,118 | 421,263 | 448,221 | 420,256 | 493,623 | 422,480 | 181,351 | 193,182 | 194,726 | 364,326 | 180,312 | 192,386 | 234,283 | 191,893 | 278,803 | 382,537 | 274,613 | 155,911 | |
3 |
146,872 | 161,225 | 206,499 | 115,842 | 152,388 | 118,724 | 37,342 | 71,496 | 49,121 | 49,121 | 46,087 | 63,980 | 70,403 | 92,424 | 55,932 | 68,290 | 82,867 | 149,817 | 75,591 | 69,203 | |
30/36 |
123,053 | 98,747 | 94,338 | 80,126 | 95,127 | 78,486 | 37,342 | 71,496 | 49,121 | 49,121 | 46,087 | 63,980 | 70,403 | 92,424 | 55,932 | 68,290 | 21,867 | 149,817 | 75,591 | 69,203 | |
37 |
23,818 | 62,479 | 112,161 | 35,716 | 57,261 | 40,238 | - | - | - | - | - | - | - | - | - | - | 61,000 | - | - | - | |
40/41 |
579,055 | 624,944 | 321,841 | 293,852 | 115,381 | 125,377 | 312,089 | 310,017 | 74,420 | 64,647 | 63,049 | 299,082 | 87,323 | 90,742 | 139,084 | 117,591 | 173,914 | 229,660 | 199,020 | 77,345 | |
40 |
239,834 | 405,854 | 197,936 | 257,755 | 103,037 | 103,512 | 293,324 | 214,311 | 36,808 | 44,365 | 30,791 | 279,377 | 76,922 | 75,382 | 98,328 | 107,922 | 125,033 | 194,076 | 153,791 | 61,717 | |
41 |
339,221 | 219,089 | 123,905 | 36,097 | 12,344 | 21,865 | 18,765 | 95,707 | 37,612 | 20,281 | 32,258 | 19,706 | 10,402 | 15,360 | 40,757 | 9,669 | 48,882 | 35,584 | 45,228 | 15,628 | |
54/58 |
22,602 | 83,654 | 198,070 | 11,570 | 180,452 | 176,154 | 144,192 | 40,967 | 57,810 | 79,415 | 85,589 | 1,264 | 22,586 | 9,220 | 39,266 | 6,012 | 22,021 | 3,060 | 3 | 3,793 | |
490/1 |
16,530 | 12,299 | 3,708 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 5,570 | |
| Balance sheet: equity and liabilities | |||||||||||||||||||||
10/49 |
889,497 | 1.0m | 885,557 | 512,661 | 575,517 | 640,802 | 796,001 | 811,080 | 346,693 | 310,319 | 339,357 | 527,554 | 350,585 | 356,274 | 465,577 | 493,601 | 637,865 | 735,211 | 554,403 | 308,045 | |
10/15 |
222,973 | 218,214 | 207,009 | 449,692 | 444,645 | 434,892 | 425,323 | 332,285 | 253,852 | 251,838 | 237,830 | 222,881 | 169,815 | 169,384 | 168,078 | 149,962 | 140,152 | 117,559 | 108,407 | 98,357 | |
10/11 |
59,494 | 59,494 | 59,494 | 59,494 | 59,494 | 59,494 | 59,494 | 59,494 | 59,494 | 59,494 | 59,494 | 59,494 | 59,494 | 59,494 | 59,494 | 59,494 | 59,494 | 59,494 | 59,494 | 59,494 | |
100 |
- | - | - | - | - | - | 59,494 | 59,494 | 59,494 | 59,494 | 59,494 | 59,494 | 59,494 | 59,494 | 59,494 | 59,494 | 59,494 | 59,494 | 59,494 | 59,494 | |
13 |
163,478 | 158,720 | 147,515 | 4,671 | 4,671 | 4,671 | 4,671 | 4,671 | 4,671 | 4,671 | 4,671 | 4,671 | 4,671 | 4,671 | 4,671 | 4,671 | 4,671 | 4,671 | 4,671 | 4,671 | |
132 |
4,671 | 4,671 | 4,671 | 4,671 | 4,671 | 4,671 | 4,671 | 4,671 | 4,671 | 4,671 | 4,671 | 4,671 | 4,671 | 4,671 | 4,671 | 4,671 | 4,671 | 4,671 | 4,671 | 4,671 | |
133 |
158,807 | 154,049 | 142,844 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
14 |
- | 0 | 0 | 385,527 | 380,479 | 370,726 | 361,157 | 268,119 | 189,687 | 187,672 | 173,664 | 158,715 | 105,649 | 105,218 | 103,913 | 85,796 | 75,986 | 53,393 | 44,242 | 34,192 | |
17/49 |
666,524 | 825,719 | 678,548 | 62,968 | 130,872 | 205,910 | 370,679 | 478,795 | 92,841 | 58,482 | 101,527 | 304,674 | 180,770 | 186,890 | 297,499 | 343,640 | 497,713 | 617,651 | 445,996 | 209,688 | |
17 |
50,104 | 57,855 | 58,396 | 0 | 57,280 | 113,913 | 169,907 | 268,457 | 75,000 | 7,860 | 27,527 | 51,802 | 57,989 | 86,649 | 144,662 | 206,020 | 268,476 | 317,349 | 240,826 | 131,025 | |
170/4 |
50,104 | 57,855 | 58,396 | 0 | 57,280 | 113,913 | 169,907 | 268,457 | 75,000 | 7,860 | 27,527 | 51,802 | 57,989 | 86,649 | 144,662 | 206,020 | 268,476 | 317,349 | 240,826 | 131,025 | |
42/48 |
616,371 | 738,508 | 620,153 | 62,968 | 73,592 | 91,997 | 200,772 | 210,339 | 17,841 | 50,622 | 73,999 | 252,872 | 121,581 | 100,241 | 152,837 | 137,620 | 229,236 | 300,195 | 205,170 | 74,879 | |
42 |
34,104 | 26,810 | 20,012 | 57,280 | 62,500 | 59,345 | 99,808 | 96,648 | 7,860 | 50,622 | 24,847 | 43,708 | 57,649 | 59,027 | 61,252 | 62,457 | 59,717 | 51,489 | 26,446 | 10,282 | |
43 |
0 | 379,418 | 350,000 | - | - | - | - | - | 1,610 | - | - | 41,709 | - | - | - | - | - | - | 26,500 | - | |
430/8 |
0 | 379,418 | 350,000 | - | - | - | - | - | - | - | - | 41,709 | - | - | - | - | - | - | 26,500 | - | |
439 |
- | - | - | - | - | - | - | - | 1,610 | - | - | - | - | - | - | - | - | - | - | - | |
44 |
420,459 | 218,756 | 71,595 | 2,821 | 3,923 | 10,358 | 40,342 | 99,578 | 8,370 | - | 40,832 | 56,330 | 3,045 | 11,431 | 17,811 | 32,087 | 36,149 | 176,692 | 48,158 | 42,667 | |
440/4 |
420,459 | 218,756 | 71,595 | 2,821 | 3,923 | 10,358 | 40,342 | 99,578 | 8,370 | - | 40,832 | 56,330 | 3,045 | 11,431 | 17,811 | 32,087 | 36,149 | 176,692 | 48,158 | 42,667 | |
46 |
94,795 | 29,720 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
45 |
65,763 | 82,554 | 73,546 | 2,868 | 0 | 15,804 | 32,037 | 10,529 | - | - | 8,029 | 41,827 | 2,247 | 9,182 | 12,697 | 11,999 | 27,894 | 10,019 | 11,182 | 11,354 | |
450/3 |
12,245 | 28,878 | 34,940 | 2,621 | 0 | 15,804 | 13,794 | - | - | - | 8,029 | 28,337 | 2,247 | 9,182 | 12,697 | 11,999 | 10,139 | 2,538 | - | - | |
454/9 |
53,518 | 53,676 | 38,607 | 246 | - | 0 | 18,243 | 10,529 | - | - | - | 13,490 | - | - | - | - | 17,755 | 7,480 | 11,182 | 11,354 | |
47/48 |
1,250 | 1,250 | 105,000 | 0 | 7,170 | 6,491 | 28,585 | 3,585 | - | - | 291 | 69,298 | 58,640 | 20,600 | 61,077 | 31,077 | 105,476 | 61,996 | 92,885 | 10,577 | |
492/3 |
50 | 29,357 | - | - | - | - | - | - | - | - | - | - | 1,200 | - | - | - | - | 107 | - | 3,783 | |
| Income statement | |||||||||||||||||||||
76A |
0 | 25,000 | 98,884 | - | - | - | - | - | - | - | 9,000 | 110,000 | - | - | - | - | 4,545 | - | - | - | |
9900 |
619,590 | 546,526 | 415,551 | 341,381 | 352,265 | 296,031 | 428,215 | 444,784 | 320,016 | 274,747 | 357,612 | 290,242 | 333,119 | 347,012 | 410,232 | 405,001 | 381,598 | 288,055 | 209,601 | 161,105 | |
62 |
521,248 | 469,436 | 240,907 | 260,212 | 208,351 | 188,317 | 210,736 | 231,918 | 246,633 | 211,294 | 249,677 | 254,697 | 256,801 | 242,390 | 239,613 | 261,440 | 230,185 | 168,019 | 121,438 | 113,381 | |
630 |
44,035 | 36,988 | 17,913 | 73,823 | 94,238 | 95,665 | 99,363 | 105,679 | 58,976 | 40,952 | 43,429 | 45,350 | 56,478 | 76,047 | 111,118 | 105,690 | 99,816 | 89,861 | 60,851 | 25,313 | |
631/4 |
0 | 1,880 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
640/8 |
6,659 | 6,509 | 5,579 | 4,858 | 20,676 | 5,037 | 5,075 | 5,027 | 4,200 | 4,634 | 5,371 | 5,333 | 7,246 | 5,437 | 5,515 | 6,198 | 5,346 | 2,409 | 3,244 | 3,059 | |
66A |
- | 0 | 1,266 | - | - | - | - | - | - | - | 25,123 | - | 1,305 | - | - | - | - | - | 1,365 | - | |
9901 |
47,648 | 31,714 | 149,886 | 2,488 | 28,999 | 7,012 | 113,041 | 102,160 | 10,207 | 17,868 | 59,135 | -15,139 | 12,594 | 23,138 | 53,986 | 31,672 | 46,250 | 27,766 | 24,068 | 19,351 | |
75/76B |
12,044 | 9,860 | 1,577 | 10,314 | 2,654 | 11,000 | 2,434 | 106 | 114 | 5,396 | 9 | 44 | 3,619 | 3,287 | 1,513 | 481 | 60 | 937 | 571 | 2,625 | |
75 |
12,044 | 9,860 | 1,577 | 10,314 | 2,654 | 11,000 | 2,434 | 106 | 114 | - | 9 | 44 | 3,619 | 3,287 | 1,513 | 481 | 60 | 937 | 571 | 2,625 | |
76B |
- | - | - | - | - | - | - | - | - | 5,396 | - | - | - | - | - | - | - | - | - | - | |
65/66B |
43,666 | 23,166 | 5,774 | 5,133 | 16,555 | 3,905 | 13,258 | 4,762 | 2,964 | 4,775 | 20,234 | 16,022 | 12,449 | 24,331 | 29,085 | 17,945 | 20,658 | 17,012 | 11,114 | 12,946 | |
65 |
43,666 | 23,166 | 5,774 | 5,133 | 16,555 | 3,905 | 13,258 | 4,762 | 2,964 | 3,433 | 20,234 | 16,022 | 12,449 | 24,331 | 29,085 | 17,945 | 20,658 | 17,012 | 11,114 | 12,946 | |
66B |
- | - | - | - | - | - | - | - | - | 1,342 | - | - | - | - | - | - | - | - | - | - | |
9903 |
16,026 | 18,408 | 145,689 | 7,669 | 15,098 | 14,107 | 102,217 | 97,503 | 7,356 | 18,489 | 22,788 | 78,884 | 2,460 | 2,094 | 26,415 | 14,208 | 30,198 | 11,690 | 12,160 | 9,029 | |
67/77 |
11,268 | 7,203 | 38,372 | 2,621 | 5,345 | 4,538 | 9,179 | 32,845 | 5,342 | 4,481 | 7,838 | 25,818 | 2,029 | 789 | 8,298 | 4,398 | 7,605 | 2,538 | 2,110 | -12 | |
9904 |
4,758 | 11,205 | 107,317 | 5,048 | 9,753 | 9,569 | 93,038 | 64,658 | 2,015 | 14,008 | 14,949 | 53,066 | 431 | 1,306 | 18,117 | 9,810 | 22,593 | 9,152 | 10,050 | 9,042 | |
9905 |
4,758 | 11,205 | 107,317 | 5,048 | 9,753 | 9,569 | 93,038 | 64,658 | 2,015 | 14,008 | 14,949 | 53,066 | 431 | 1,306 | 18,117 | 9,810 | 22,593 | 9,152 | 10,050 | 9,042 | |
| Appropriation of the result | |||||||||||||||||||||
9906 |
4,758 | 11,205 | 142,844 | 385,527 | 380,479 | 370,726 | 361,157 | 268,119 | 189,687 | 187,672 | 173,664 | 158,715 | 105,649 | 105,218 | 103,913 | 85,796 | 75,986 | 53,393 | 44,242 | 34,192 | |
14P |
- | 0 | 35,527 | 380,479 | 370,726 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
791/2 |
- | 0 | 350,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
4,758 | 11,205 | 142,844 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
6921 |
4,758 | 11,205 | 142,844 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
694/7 |
- | 0 | 350,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
694 |
- | 0 | 350,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
| Social balance sheet | |||||||||||||||||||||
9087 |
6.8 | 6.5 | 3.9 | 4.5 | 4.7 | 5.8 | 5.3 | 5.2 | 5.9 | 4.6 | 5.7 | 6 | 6.1 | 6.2 | 6 | 5.6 | 5.2 | 3.5 | 3 | 3.2 | |
Hours worked1013 |
11,689 | 10,695 | 1,648 | 7,286 | 6,684 | 6,312 | 8,272 | 8,807 | 9,128 | 7,664 | 9,664 | 9,552 | 10,264 | 9,868 | 9,276 | 9,731 | 8,288 | 6,184 | 4,880 | 5,160 | |
| Document | |||||||||||||||||||||
The accounts for 8 older financial years (1998-2005) were filed as documents without figures as data, scans for example.
The notes to these accounts have 19 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 29-06-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 29-06-2026 | 2026-00229422 | |
| 31-12-2024 | abbreviated format | 16-07-2025 | 2025-00281697 | |
| 31-12-2023 | abbreviated format | 24-04-2024 | 2024-00068420 | |
| 31-12-2022 | abbreviated format | 29-06-2023 | 2023-00173803 | |
| 31-12-2021 | abbreviated format | 29-06-2022 | 2022-20115590 | |
| 31-12-2020 | abbreviated format | 30-06-2021 | 2021-28600152 | |
| 31-12-2019 | abbreviated format | 29-06-2020 | 2020-22100421 | |
| 31-12-2018 | micro format | 01-07-2019 | 2019-26100279 | |
| 31-12-2017 | micro format | 25-06-2018 | 2018-22100368 | |
| 31-12-2016 | micro format | 22-06-2017 | 2017-20300062 | |
| 31-12-2015 | abbreviated format | 30-06-2016 | 2016-24900081 | |
| 31-12-2014 | abbreviated format | 29-06-2015 | 2015-22700006 | |
| 31-12-2013 | abbreviated format | 26-06-2014 | 2014-21800398 | |
| 31-12-2012 | abbreviated format | 24-06-2013 | 2013-20700520 | |
| 31-12-2011 | abbreviated format | 21-06-2012 | 2012-20100049 | |
| 31-12-2010 | abbreviated format | 23-06-2011 | 2011-19700406 | |
| 31-12-2009 | abbreviated format | 24-06-2010 | 2010-21500112 | |
| 31-12-2008 | abbreviated format | 22-06-2009 | 2009-27400154 | |
| 31-12-2007 | abbreviated format | 17-06-2008 | 2008-25800345 | |
| 31-12-2006 | abbreviated format | 26-06-2007 | 2007-29000140 | |
| 31-12-2005 | abbreviated format | 30-06-2006 | 2006-37705254 | |
| 31-12-2004 | abbreviated format | 01-07-2005 | 2005-40201960 | |
| 31-12-2003 | abbreviated format | 06-07-2004 | 2004-41005267 | |
| 31-12-2002 | abbreviated format | 27-06-2003 | 2003-33105160 | |
| 31-12-2001 | abbreviated format | 28-06-2002 | 2002-30303744 | |
| 31-12-2000 | abbreviated format | 29-06-2001 | 2001-30604618 | |
| 31-12-1999 | abbreviated format | 03-07-2000 | 2000-36000322 | |
| 31-12-1998 | abbreviated format | 30-06-1999 | 1999-27602600 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 91,683 | 68,701 | 167,799 | 76,311 | 123,237 | 102,678 | 212,404 | 207,838 | 69,183 | 58,819 | 102,564 | 30,212 | 69,072 | 99,185 | 165,104 | 137,363 | 146,066 | 117,627 | 84,919 | 44,664 | ||
| 48,794 | 48,193 | 125,229 | 78,871 | 103,991 | 105,234 | 192,401 | 170,337 | 60,991 | 54,960 | 58,378 | 98,416 | 56,908 | 77,352 | 129,234 | 115,500 | 122,409 | 99,013 | 70,901 | 34,355 | ||
| 46,553 | 43,360 | 91,470 | 39,068 | 988 | 13,833 | 13,142 | 328,937 | 107,181 | 13,458 | 24,831 | 38,306 | 65,072 | 8,641 | 40,703 | 48,338 | 106,205 | 162,744 | 201,072 | 11,973 | ||
| -61,052 | -114,416 | 186,500 | -168,882 | 4,297 | 31,962 | 103,226 | -16,843 | -21,605 | -6,175 | 84,325 | -21,322 | 13,366 | -30,046 | 33,254 | -16,010 | 18,961 | 3,058 | -3,790 | - | ||
| 148,687 | 143,614 | 109,966 | 358,295 | 374,629 | 328,258 | 292,851 | 212,142 | 163,511 | 142,561 | 120,726 | 111,454 | 58,731 | 92,145 | 81,446 | 54,272 | 49,567 | 82,342 | 69,443 | 81,032 | ||
| 25.1% | 20.9% | 23.4% | 87.7% | 77.3% | 67.9% | 53.4% | 41.0% | 73.2% | 81.2% | 70.1% | 42.2% | 48.4% | 47.5% | 36.1% | 30.4% | 22.0% | 16.0% | 19.6% | 31.9% | ||
| 1.24 | 1.19 | 1.18 | 6.69 | 6.09 | 4.57 | 2.46 | 2.01 | 10.17 | 3.82 | 2.63 | 1.44 | 1.48 | 1.92 | 1.53 | 1.39 | 1.22 | 1.27 | 1.34 | 2.08 | ||
| 1.00 | 0.98 | 0.84 | 4.85 | 4.02 | 3.28 | 2.27 | 1.67 | 7.41 | 2.85 | 2.01 | 1.19 | 0.90 | 1.00 | 1.17 | 0.90 | 0.85 | 0.78 | 0.97 | 1.16 | ||
| 2.99 | 3.78 | 3.28 | 0.14 | 0.29 | 0.47 | 0.87 | 1.44 | 0.37 | 0.23 | 0.43 | 1.37 | 1.06 | 1.10 | 1.77 | 2.29 | 3.55 | 5.25 | 4.11 | 2.13 | ||
| 2.1% | 5.1% | 51.8% | 1.1% | 2.2% | 2.2% | 21.9% | 19.5% | 0.8% | 5.6% | 6.3% | 23.8% | 0.3% | 0.8% | 10.8% | 6.5% | 16.1% | 7.8% | 9.3% | 9.2% | ||
| 0.5% | 1.1% | 12.1% | 1.0% | 1.7% | 1.5% | 11.7% | 8.0% | 0.6% | 4.5% | 4.4% | 10.1% | 0.1% | 0.4% | 3.9% | 2.0% | 3.5% | 1.2% | 1.8% | 2.9% | ||
| 2.10 | 2.97 | 29.06 | 14.87 | 7.44 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-12-2025 | 31-12-2024 | 31-12-2023 | 31-12-2022 | 31-12-2021 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 7 | 7 | 4 | 4 | 5 |
| full-time | 7 | 7 | 3 | 2 | 3 |
| part-time | 0 | 0 | 1 | 2 | 2 |
| in full-time equivalents | 7 | 7 | 3.9 | 3.7 | 4.7 |
| 6.8 | 6.5 | 3.9 | 4.5 | 4.7 | |
| On a permanent contract | 7 | 7 | 4 | 4 | 5 |
| Joined | 10 | 6 | - | 0 | - |
| Left | 10 | 3 | - | 1 | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | - | €350,000 | - | - | - |
| Mandates to pledge the business | €411,131 | - | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €46,553 | €42,860 | €91,470 | €39,068 | €988 |
| Financial fixed assets | €0 | €500 | - | - | - |
| €44,035 | €36,988 | €17,913 | €73,823 | €94,238 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is 50% higher than in 2024. It is a recovery after the fall in 2024.
Debt's share of the balance-sheet total falls from 79.1% to 74.9%. Equity is higher and debt is lower.
Source: lists of holdings in the owners' accounts
Source: list of holdings in the 2025 accounts of A-HOLDING. Every holding stands with its own latest accounts.
Part of the group A-HOLDING Group, risk and exposure| AXOR
registered office since 22-03-1996 · founded in 1996 · group A-HOLDING |
30 FTE (2025) 0457.382.813 |
| A-BUILDING
registered office since 19-05-2015 · founded in 2015 · group A-HOLDING |
total assets €14.5m (2025) 0630.693.010 |
| A-HOLDING
registered office since 07-01-2011 · founded in 2011 |
3.7 FTE (2025) 0832.613.950 |
| A-RENTAL
registered office since 05-07-2022 · founded in 2022 · group A-HOLDING |
3 FTE (2025) 0788.228.334 |
| A-STEEL
registered office since 30-01-2023 · founded in 2023 · group A-HOLDING |
6.9 FTE (2025) 0797.795.997 |
| A-ROOF
registered office since 05-02-2022 · founded in 2022 · group A-HOLDING |
7 FTE (2025) 0781.639.262 |
| HPI
registered office since 11-05-2020 · founded in 2020 · negative equity (2025) |
total assets €548,848 (2025) 0746.800.723 |
| A-BUILDSTORE
registered office since 10-06-2024 · founded in 2024 · negative equity (2025) · group A-HOLDING |
0.3 FTE (2025) 1010.186.605 |
| A-ENERGY
registered office since 23-11-2023 · founded in 2023 · negative equity (2025) · group A-HOLDING |
total assets €10,531 (2025) 1002.577.053 |
| INTEGRATED CONTROLLED ENVIRONMENT
registered office since 24-06-2025 |
founded in 2025 1024.640.296 |
The network starts from the directors of A-FRAMES. Every other company they run is a node.
Deadline for the 2026 accounts: 31-07-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
A-FRAMES was incorporated on 1 April 1998.1 In 2023 the company took the name A-FRAMES.2 The registered office was moved to Bocholt in 2023.2 The board currently has 2 members, 2 of whom have served since 2023.3 Total assets went from €811,080 in 2018 to €889,497 in 2025 and headcount from 5.2 to 6.8 full-time equivalents.4
| Establishment | Since | Unit number |
|---|---|---|
| Rademakersstraat 39 registered office 3950 Bocholt | 02-04-1998 | 2.086.152.571 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 72003A1371/00E000 | 8,399 m² | 1 · 3,785 m² | 8.4 m |
Check the withholding obligation If you pay this company for building or cleaning work, check before every payment whether you must withhold part of the invoice. Use the enterprise number 0463.018.612
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