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A4F

Active Public limited companyfounded 1992active for 34 yearsIndustrielaan 4, 9320 AalstKBO/BCE: BE 0446.981.542
A4F
Financial year 2025
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Annual accounts 2025

full format, filed on 23-06-2026, 38 days before the deadline
-€7,648
▼ €3,225
-€8,610
▼ €2,320
-€34,558
▼ €16,508
€250,937
▼ 12.3%
10.3%
▼ 16.7 percentage points
1.11
▼ 0.26

Turnover: not included in this filing.

Balance sheet

balance sheet total €2.4m on 31-12-2025
What the company ownsHow it is paid for

in euro

in euro

Position in the sector

Compare with sector

10.3%

Higher than 24% of 5,810 companies in 2025.

1.11

Higher than 46% of 5,561 companies in 2025.

-1.4%

Higher than 26% of 5,784 companies in 2025.

A4F Middle half of the sector 80% of the sector Full accounts in real estate (NACE 68)

Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend20252024202320222021202020192018201720162015201420132012201120102009200820072006
Balance sheet: assets
20/58 2.4m1.1m459,69349,14645,95547,49065,301109,73952,51757,26462,085283,793297,533321,357726,9241.6m2.4m3.0m8.6m7.8m
21/28 375-088888815--------29,87159,742
21 ------------------29,87159,742
28 375-088888815----------
29/58 2.4m1.1m459,69349,13845,94747,48365,294109,73252,50957,24962,085283,793297,533321,357726,9241.6m2.4m3.0m8.6m7.7m
3 1.9m814,30577,636-----30,47630,47630,476125,823121,250121,250149,226812,1142.1m2.7m7.8m7.2m
30/36 --------2,5912,5912,59112,95312,95312,95316,77698,978266,737387,523483,1451.4m
37 1.9m814,30577,636-----27,88627,88627,886112,870108,297108,297132,450713,1361.8m2.3m7.3m5.8m
40/41 8,4495,563328,63547,40445,67943,80458,52911,38918,59217,01016,19023,42213,69611,5318,56976,49517,434113,946325,228424,843
40 017406,0006,0006,0006,0006,0006,0006,0006,0006,0006,0005,9836,00076,28214,08768,467318,004102,496
41 8,4495,389328,63541,40439,67937,80452,5295,38912,59211,01010,19017,4227,6965,5482,5692133,34745,4797,224322,347
54/58 578,481238,84253,4221,7352683,6796,76498,3433,4419,76315,419134,528162,567188,556569,110672,610321,475239,418422,81950,862
490/1 -----------202020202020958668374
Balance sheet: equity and liabilities
10/49 2.4m1.1m459,69349,14645,95547,49065,301109,73952,51757,26462,085283,793297,533321,357726,9241.6m2.4m3.0m8.6m7.8m
10/15 250,965285,523303,572-84,58442,32547,44865,25960,71548,77857,22162,040215,783151,472157,029549,644742,064986,075926,595916,192449,605
10/11 810,022810,022810,022410,022410,022410,022410,022410,022410,022410,022410,022530,022530,022530,022880,022880,022880,022880,022880,022880,022
10 810,022810,022810,022410,022410,022---------------
100 810,022810,022810,022410,022410,022410,022410,022410,022410,022410,022410,022530,022530,022530,022880,022880,022880,022880,022880,022880,022
13 31,19431,19431,19431,19431,19431,19431,19431,19431,19431,19431,19431,19431,19431,19431,19431,19431,19425,52025,000-
130/1 31,19431,19431,19431,19431,19431,194--------------
130 31,19431,19431,19431,19431,19431,19431,19431,19431,19431,19431,19431,19431,19431,19431,19431,19431,19425,52025,000-
14 -590,251-555,694-537,644-525,800-398,891-393,768-375,957-380,501-392,438-383,995-379,176-345,433-409,744-404,187-361,573-169,15274,85921,05311,170-430,417
16 ------------138,441163,026169,000169,001257,125266,340442,350-
160/5 ------------138,441163,026169,000169,001257,125266,340442,350-
17/49 2.2m773,187156,121133,7303,630424249,0243,739434568,0107,6201,3028,281650,1741.1m1.8m7.2m7.3m
42/48 2.2m772,529156,121133,7303,630424249,0243,739434568,0107,6201,3028,281650,1741.1m1.8m7.2m7.3m
43 125,00056,000-----------------4.8m
430/8 125,000------------------4.8m
439 056,000------------------
44 4,48439826,0673,6303,63042-48,9443,739434568,0107,6201,2028,21237,419621,983980,7641.7m1.3m
440/4 4,48439826,0673,6303,63042-48,9443,739434568,0107,6201,2028,21237,419621,983980,7641.7m1.3m
46 1.7m513,990-------------7,112-29,8003.9m696,385
45 85,22158,108-----81------69106,7711,492---
450/3 85,22158,108-----81------69106,7711,492---
47/48 273,621144,034130,055130,100--42------100-498,873524,638828,7711.7m575,175
492/3 347658---------------1291020
Income statement
76A --------------10,248-91,479---
9900 -7,648-4,423-12,209-1,206-5,175-18,6223,8775,262-7,691-4,086-62,678-73,809-29,188-10,778-134,712-242,37618,044-137,081946,5475,237
630 -----------------29,87129,87129,871
631/4 --------7,548---30,193-77836,963------
635/8 ------------138,441-24,585-5,974-1-88,124-9,215-176,010442,350-
640/8 9621,8661,029126,9946904711,0097317437831,2319261,3171,2592,8011,2313,7681,2561,3481,396
66A --------------65,91188,725----
9901 -8,610-6,290-13,238-128,200-5,865-19,0942,86812,080-8,434-4,869-33,71663,706-6,697-43,026-137,512-155,48323,4907,801472,978-26,031
75/76B 1416,1216,5581,4167631,3081,7231321108536411,1765091,0431701,6145,3671,788389
75 1416,1216,5581,4167631,3081,7231321108536411,1765091,0431701,6145,3671,788389
65/66B 26,08917,8815,164124212548156305880363698288-283,1022,7668,1791,977
65 26,08917,8815,164124212548156305880363698288-283,1022,7668,1791,977
9903 -34,558-18,049-11,844-126,909-5,123-17,8114,54411,937-8,443-4,819-33,74364,310-5,557-42,614-192,421-244,011113,48010,403466,587-27,619
67/77 -------------------2
9904 -34,558-18,049-11,844-126,909-5,123-17,8114,54411,937-8,443-4,819-33,74364,310-5,557-42,614-192,421-244,011113,48010,403466,587-27,621
9905 -34,558-18,049-11,844-126,909-5,123-17,8114,54411,937-8,443-4,819-33,74364,310-5,557-42,614-192,421-244,011113,48010,403466,587-27,621
Appropriation of the result
9906 -590,251-555,694-537,644-525,800-398,891-393,768-375,957-380,501-392,438-383,995-379,176-345,433-409,744-404,187-361,573-169,152134,53321,57336,170-430,417
14P -555,694-537,644-525,800-398,891-393,768---------------
691/2 ----------------5,67452025,000-
6920 ----------------5,67452025,000-
694/7 ----------------54,000---
695 ----------------54,000---
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

The accounts for 14 older financial years (1992-2005) were filed as documents without figures as data, scans for example.

The notes to these accounts have 14 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 23-06-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
31-12-2025 full format 23-06-2026 2026-00188445 PDF
31-12-2024 abbreviated format 03-07-2025 2025-00232326 PDF
31-12-2023 abbreviated format 26-06-2024 2024-00165775 PDF
31-12-2022 micro format 29-06-2023 2023-00174423 PDF
31-12-2021 micro format 11-07-2022 2022-20171827 PDF
31-12-2020 micro format 18-06-2021 2021-21300201 PDF
31-12-2019 micro format 23-06-2020 2020-20300455 PDF
31-12-2018 micro format 11-06-2019 2019-17600181 PDF
31-12-2017 micro format 12-06-2018 2018-17900009 PDF
31-12-2016 micro format 08-06-2017 2017-16100311 PDF
31-12-2015 abbreviated format 28-06-2016 2016-23100438 PDF
31-12-2014 abbreviated format 25-06-2015 2015-21300370 PDF
31-12-2013 abbreviated format 30-06-2014 2014-23700432 PDF
31-12-2012 abbreviated format 09-07-2013 2013-29200405 PDF
31-12-2011 abbreviated format 04-07-2012 2012-26100394 PDF
31-12-2010 abbreviated format 06-07-2011 2011-26300232 PDF
31-12-2009 abbreviated format 25-06-2010 2010-21200049 PDF
31-12-2008 abbreviated format 18-06-2009 2009-24800231 PDF
31-12-2007 abbreviated format 05-06-2008 2008-18600134 PDF
31-12-2006 abbreviated format 12-06-2007 2007-21100283 PDF
31-12-2005 abbreviated format 29-06-2006 2006-35500523 PDF
31-12-2004 abbreviated format 29-07-2005 2005-61501780 PDF
31-12-2003 abbreviated format 01-09-2004 2004-63101003 PDF
31-12-2002 full format 13-02-2004 2004-04602750 PDF
31-12-2001 full format 13-03-2003 2003-07104354 PDF
31-12-2000 full format 29-10-2001 2001-67100758 PDF
31-12-1999 full format 14-12-2000 2000-76004583 PDF
31-12-1998 full format 06-10-1999 1999-51802570 PDF
31-12-1997 full format 26-05-1999 1999-11801829 PDF
31-12-1996 full format 04-09-1997 1997-41804292 PDF
31-12-1995 full format 17-12-1998 1998-62201437 PDF
31-12-1994 full format 06-09-1995 1995-48504120 PDF
31-12-1993 full format 13-09-1994 1994-39601003 PDF
31-12-1992 full format 28-06-1993 1993-18701118 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend20252024202320222021202020192018201720162015201420132012201120102009200820072006
-----------------37,672502,8493,841
-----------------40,274496,4582,250
375---0----15-------00-
339,638185,42151,6871,467-3,411-3,086-91,57894,901-6,322-5,656-119,109-28,039-25,989-380,553-103,501351,13582,057-183,401371,958-
250,937286,181303,572-84,59242,31747,44065,25160,70848,77157,20662,040215,783289,913320,055718,644911,0651.2m1.2m1.3m389,862
10.3%27.0%66.0%-172.1%92.1%99.9%99.9%55.3%92.9%99.9%99.9%76.0%50.9%48.9%75.6%47.5%41.2%30.6%10.7%5.8%
1.111.372.940.3712.66--2.2414.04--4.1739.04-87.792.402.081.651.181.05
0.270.322.450.3712.66--2.245.89--2.3223.13-69.761.150.300.190.100.06
8.722.710.51-0.090.000.000.810.080.000.000.320.050.010.020.881.161.997.9016.30
-13.8%-6.3%-3.9%--12.1%-37.5%7.0%19.7%-17.3%-8.4%-54.4%29.8%-3.7%-27.1%-35.0%-32.9%11.5%1.1%50.9%-6.1%
-1.4%-1.7%-2.6%-258.2%-11.1%-37.5%7.0%10.9%-16.1%-8.4%-54.3%22.7%-1.9%-13.3%-26.5%-15.6%4.7%0.3%5.4%-0.4%

EBIT margin: not included in this filing.

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.

Investments

fixed assets acquired
Item20252024202320222021
Financial fixed assets€375---€0

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on A4F

The operating result for 2025 is a loss of €8,610, larger than the loss of €6,290 in 2024.

Debt's share of the balance-sheet total rises from 73.0% to 89.7%. Equity is lower and debt is higher.

Large changes and their cause
  • 2023 Net result +91% on 2022. The accounts now follow the abbreviated format, last year the micro format.
  • 2023 Total assets +835% on 2022. Capital increase of €400,000 (Official Gazette 26-10-2023).

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