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A4F

Active Public limited companyfounded 1992active for 34 yearsIndustrielaan 4, 9320 AalstKBO/BCE: BE 0446.981.542
A4F
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Overview

Lifetime

20 annual accounts with figures on one time axis, 34 filings since 1992
peak €946,547 (2007)
-€7,648▼ €3,225
lowest -€244,011 (2010)
-€34,558▼ €16,508
peak €986,075 (2009)
€250,965▼ 12.1%
€2.2m▲ 183%
Board8 names since 2019
4 directorsBELITA and 3 others
Owners5 names in the annual accounts
  
Documentsfilings and deeds
23-06-202638 days before the deadline
2025financial year
Gross margin from -€4,423 to -€7,648Loss of €34,558Registered office moved from Meerbeke to Erembodegem 18-061 director appointed, 1 resignation 03-02Equity from €285,523 to €250,965Debts from €773,187 to €2.2m

Key points

from the 2025 annual accounts

Equity

€250,965 from €986,075 in 2009

Equity fell by 75% in 16 years.

Losses

-€214,294 in six years
-17,8112020-5,1232021-126,9092022-11,8442023-18,0492024-34,5582025

Every financial year from 2020 to 2025 closed with a loss. 2022 was the heaviest.

Debts

€2.2m 90% of the balance sheet
Financial debts 6%Suppliers 0%Taxes and wages 4%Other 90%

Of this, €2.2m falls due within a year.

Checked score

87
Excellent
Financially stronger than 25% of small companies in real estate (NACE 68)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: 0.1% across 6,995 companies (NACE 68, small).

About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: 0.2% 01-2025: 0.2%● unchanged vs 12-2024 02-2025: 0.2%● unchanged vs 01-2025 03-2025: 0.2%● unchanged vs 02-2025 04-2025: 0.2%● unchanged vs 03-2025 05-2025: 0.2%● unchanged vs 04-2025 06-2025: 0.2%● unchanged vs 05-2025 07-2025: 1.2%▲ +1.0 percentage point vs 06-2025highest value 08-2025: 0.8%▼ -0.4 percentage points vs 07-2025 09-2025: 0.8%● unchanged vs 08-2025 10-2025: 0.8%● unchanged vs 09-2025 11-2025: 0.8%● unchanged vs 10-2025 12-2025: 0.8%● unchanged vs 11-2025 01-2026: 0.8%● unchanged vs 12-2025 02-2026: 0.8%● unchanged vs 01-2026 03-2026: 0.8%● unchanged vs 02-2026 04-2026: 0.8%● unchanged vs 03-2026 05-2026: 0.7%▼ -0.1 percentage points vs 04-2026 06-2026: 0.1%▼ -0.6 percentage points vs 05-2026lowest value 07-2026: 0.2%▲ +0.1 percentage points vs 06-2026 08-2026: 0.2%● unchanged vs 07-2026 09-2026: 0.2%● unchanged vs 08-2026 10-2026: 0.2%● unchanged vs 09-2026 11-2026: 0.2%● unchanged vs 10-2026

Financial strength
Weak

35-17equity 10.3% of total assets
30-9short-term debt 89.7% · cash 23.7%
34+1return on assets -1.4%

Score breakdown

raises risk
1 change of registered office in 24 months
Equity €250,965 (10.3% of total assets)
lowers risk
Size: total assets €2.4m
Figures for financial year 2025 (filed on 23-06-2026)
Calculation

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 68, small). It does better than 29% of them on solvency, 23% on liquidity, 27% on profitability and 21% 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 very low class on 30-06-2025, 0.1% 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).

Comparable companies, two years later

In July 2024, 2,507 companies had the same profile as A4F has now. Each dot stands for 7 companies, two years later.

96.4%
were still trading
1.8%
stopped another way
1.6%
went bankrupt
  • Small
  • 20 years or older
  • solvency 10 to 30%
  • a small loss

Another 0.2% stopped without a precise date, possibly only after those two years.

The bankruptcy probability of A4F itself is lower: 0.2% within 12 months. It rests on far more data about A4F than the profile alone.

Test of the method

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.

The companies in ten equal groups, from the lowest to the highest expected share
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 2,507 companies, not a prediction for A4F. 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.

Credit verdict

Credit of up to €21,000 on 30-day terms is acceptable

Liquidity is tight, with a current ratio of 1.11 (1.37 in 2024), below the usual 1.5. Short-term debt is 89.7% and cash 23.7% of total assets. 89.7% of the assets are financed with debt and provisions.

Credit check for an amount and term of your choice

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.

Signals

Seven signals.
lowers riskraises riskneutral
raises risk · 1 change of registered office in 24 months
Belgian Official Gazette
raises risk · Equity €250,965 (10.3% of total assets)
NBB · annual accounts
lowers risk · Size: total assets €2.4m
Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.
NBB · annual accounts
lowers risk · Figures for financial year 2025 (filed on 23-06-2026)
NBB · annual accounts
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025
Net result per financial year
1819202122232425
2018 to 2025 · latest year -€34,558
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 24% of 5810 sector peers (2025).
NBB · sector comparison
Position among 5810 sector peers
Solvency
better than 24%
← weakest strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 23-06-2026, 38 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
38 days early
2024
28 days early
2023
35 days early
2022
32 days early
2021
20 days early
2020
43 days early
2019
38 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 33 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 29 June (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Board and ownership

B
BOPAT
Director, since 20-12-2023
M
Mobimo
Director, Axel Boedts, since 20-12-2024
B
BELITA
Director, Axel Boedts
P
PARCODI
Director, BOEDTS Axel
P
PROVYSA
Director, Frederik Vande Vyvere
  • Bopat BVscore 67equity €16,304 (2026) · annual accounts 2023
  • Isti BVequity €951,282 (2026) · annual accounts 2023
Board & ownership

Recent changes

Registered in the Peppol Directory Reachable for e-invoices through 0208:0446981542
Registered office moved from Meerbeke to Erembodegem New registered office: bedrijvencenter Aalst, Industrielaan 4(Aalst Zuid zone III, geel)te 9320 Erembodegem · Previous registered office: Neeр 101 9402 Meerbeke · Board meeting of 15-04-2025 · Gazette deed
1 director appointed, 1 resignation Resignation: Iparco NV · Appointment: Mobimo · Permanent representatives: Axel Boedts and Frederik Vande Vyvere · Gazette deed
Registered office moved from Koksijde to Ninove New registered office: Neep 101, 9402 Ninove · Previous registered office: Koninklijke Baan 328 bus A, 8670 Koksijde · General meeting of 04-04-2024 · Gazette deed
All 55 events

Comparable companies

same main activity, similar in size and age
Company
A4F Aalst €2.4m -€7,648 10.3% -
CONCEPT PLUS Antwerp €2.8m -€194,321 29.9% -
MEMCO Saint-Josse-ten-Noode €2.9m €264 46.8% 4.3
BODSON - TROUPIN - SERVICE Liège €2.0m -€8,977 33.5% -
PADEM Knokke-Heist €3.2m -€5,910 16.1% -
BELORIENT Oudenaarde €1.7m -€4,761 82.7% -
PAUL LAROCK Pronéservim Namur €1.7m -€5,615 22.1% 0

These companies have the same main activity as A4F: development of non-residential building projects (NACE 68122). They are comparable in size and age: total assets between €1.7m and €3.2m, founded between 1987 and 1994.

Official details

Source: KBO
Status
Active since 16-03-1992Normal situation
Registered office
93 active companies are registered at this address2 started in the 12 months before. Source: KBO register, as of 9 November 2026.
Activity
Development of non-residential building projectsNACE 68122and 1 other
Establishment unit
2.058.898.6409320 Aalst, since 21-09-1992
Financial year end
31 December
Peppol
Reachable since 28-11-2025
Company details

Annual accounts 2025

-€7,648▼ 72.9%
€34,558▲ 91.5%
€250,965▼ 12.1%
€2.4m▲ 130%
Filing
Filed on 23-06-2026, 38 days before the end of the filing period
Financials

Insights on A4F

A4F has existed since 1992. In 2007 the gross margin rose from €5,237 to €946,547.

Solvency fell in 2025 from 27.0% to 10.3% because of the loss.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

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).

Board & ownership

Board

5 directors, last change in 2025
BOPAT BV
Director
since 20-12-2023 6-year term from 2024
also on the board of 2 other companies
listed in the 2025 annual accounts, filed on 23-06-2026
Mobimo NV
Director, permanent representative Axel Boedts
since 20-12-2024 6-year term from 2025
also on the board of 1 other company
listed in the 2025 annual accounts, filed on 23-06-2026
BELITA
Director, permanent representative Axel Boedts
appointed by deed of 15-04-2019
PARCODI BVBA
Director, permanent representative BOEDTS Axel
in office according to the deed of 26-10-2023
PROVYSA BV
Director, permanent representative Frederik Vande Vyvere
in office according to the deed of 26-10-2023
Permanent representatives 2
Axel Boedts
Permanent representative, for Mobimo
appointed by deed of 03-02-2025
Frederik Vande Vyvere
Permanent representative, for PROVYSA
in office according to the deed of 26-10-2023

Office holders in the KBO →

Mandates through the years

8 names, the dashed line is today
BELITA
Director
PARCODI
Director
BOPAT
Director
Mobimo
Director
IPARCO
Director
PROVYSA
Director
BOEDTS Axel
Managing director
Frederik Vande Vyvere
Managing director
BoardEarlierRest of the termmandate already running before its first mentionend not dated
Mandates as a list
  • BELITA
    • Managing director, appointed by deed of 15-04-2019, until 11-04-2024
    • Managing director, appointed by deed of 15-04-2019, last mentioned in 2019
    • Director, since before 26-10-2023
  • PARCODI
    • Director, from 21-02-2019 to 29-12-2021
    • Huidig mandaat, from before 15-04-2019, last mentioned in 2019
    • Director, since before 26-10-2023
  • BOPAT
    • Director, from 20-12-2023 to date
  • Mobimo
    • Director, from 20-12-2024 to date
  • IPARCO
    • Director, from 20-12-2023 to 03-02-2025
  • PROVYSA
    • Director, from 21-02-2019 to 11-04-2024
    • Huidig mandaat, from before 15-04-2019, last mentioned in 2019
  • BOEDTS Axel
    • Managing director, until 21-02-2019
  • Frederik Vande Vyvere
    • Managing director, until 21-02-2019

See the board, name and registered office on a given date →

Control

Shareholder
Bopat BV
Equity €16,304
Profit €14,644 in 2026 (loss €60,340 in 2025)
Checked score 67
share not stated
This company
A4F
Equity €250,965
Loss €34,558 in 2025

and 1 other shareholder

Capital

Capital
€810,022.01
Shares
75,500
Contribution per share
€10.73
Equity per share
€3.32 in 2025
Source
deed of 26-10-2023

Owners through the years

as the annual accounts name them
IPARCO
6.25%
6.25%
Cennini Holding
27.08%27.08%
27.08% until 2014
VERHELST GROUP
6.25% until 2014
GELDOF INVEST
25%27.08%
27.08% until 2013
TRIS
25%27.08%
27.08% until 2013
Owners as a list

Source: lists of holdings in the owners' accounts

Articles of association

deed of 29-12-2021 (in Dutch)
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
First Wednesday of June at 11:00

Shareholders

2 owners

Owners 2

  • Bopat BV
    Equity €16,304 Profit of €14,644 in 2026 (loss of €60,340 in 2025) Checked score 67
    Sourceown accounts 2023
    share not stated
  • Isti BV
    Equity €951,282 Loss of €24,879 in 2026 (loss of €4,103 in 2025)
    Sourceown accounts 2023
    share not stated

Capital transactions

Shareholders according to the deeds
After the capital increase deed of 26-10-2023 ↗
  • PROVYSA (BE 0427.775.443) 40,000 shares
Capital over time
  1. 26-10-2023 Capital increase of €400,000 · to €810,022.01 · 40,000 new shares at €10 per share, 53% of the 75,500 shares after the increase · in cash
  2. 29-12-2021 Capital stated in the deed · €410,022.01 · 35,500 shares

Network & group

No group

A4F has no parent and no holdings in its annual accounts.

At the same address

Industrielaan 4, 9320 Aalst · 92 other companies
Vebego Cleaning en Services
registered office since 26-11-1997 · founded in 1997
 468 FTE (2020)
0461.448.103
Sportwerk Vlaanderen
establishment since 01-01-2023 · founded in 1985
 113 FTE (2025)
0431.746.505
TATE & LYLE SERVICES ( BELGIUM)
registered office since 02-07-2007 · founded in 2007
 10 FTE (2026)
0890.484.843
KINETICO BELGIUM
establishment since 01-04-2015 · founded in 2015
 53 FTE (2025)
0599.994.191
Perpal
registered office since 30-08-2021 · founded in 2021
 76 FTE (2025)
0772.990.129
Abus Belgium
establishment since 01-01-2023 · founded in 2016
 16 FTE (2025)
0652.893.538
ALL ROUND
registered office since 08-06-2026 · founded in 1987
 13 FTE (2025)
0431.071.859
VISION EUROPE
registered office since 27-10-2009 · founded in 2009 · negative equity (2024) · accounts filed late
 total assets €2.5m (2024)
0820.080.956
MATERNI
registered office since 18-01-2013 · founded in 2013 · negative equity (2025)
 12 FTE (2025)
0502.583.031
CP KELCO BELGIUM
registered office since 26-07-2000 · founded in 2000
 1 FTE (2025)
0472.245.884
and 82 more

Board mandates elsewhere

1 board mandate
Board mandates of A4FA4F sits on their board1
PROVYSA
Director
No longer active · founded in 1985 · total assets €361,883 (2025)

Connections & network

2 connected companies
Depth

The connected companies are in the list below.

This company Company Director Shareholding +N: links not shown yet Click a node to look further, drag to arrange, zoom with the mouse wheel.
Linked via shared directors
SOLFERBERGH
via BOPAT, IPARCO (at A4F until 2025) and BOEDTS Axel (no longer at SOLFERBERGH) · Director · deeds of 18-06-2025 and 08-11-2022
Founded in 2022 · total assets €1.6m (2025)
→
BRUCAM
via BOEDTS Axel · Permanent representative · deed of 08-11-2022
No longer active · total assets €392,744 (2023)
→

Timeline

Timeline

55 events since 1992

Deadline for the 2026 accounts: 31-07-2027

2026
Annual accounts 2025 filed NBBfull format · 38 days before the deadline
2025
Registered in the Peppol Directory Reachable for e-invoices through 0208:0446981542
Annual accounts 2024 filed PDFabbreviated format · 28 days before the deadline
Registered office moved from Meerbeke to ErembodegemNew registered office: bedrijvencenter Aalst, Industrielaan 4(Aalst Zuid zone III, geel)te 9320 Erembodegem · Previous registered office: Neeр 101 9402 Meerbeke · Board meeting of 15-04-20252 points ▸
  • Board meeting, 15-04-2025
  • Registered-office move, bedrijvencenter Aalst, Industrielaan 4(Aalst Zuid zone III, geel)te 9320 Erembodegem

Open the deed in the Belgian Official Gazette

1 director appointed, 1 resignationResignation: Iparco NV · Appointment: Mobimo · Permanent representatives: Axel Boedts and Frederik Vande Vyvere5 points ▸

Open the deed in the Belgian Official Gazette

2024
Annual accounts 2023 filed PDFabbreviated format · 35 days before the deadline
Registered office moved from Koksijde to NinoveNew registered office: Neep 101, 9402 Ninove · Previous registered office: Koninklijke Baan 328 bus A, 8670 Koksijde · General meeting of 04-04-20242 points ▸
  • General meeting, 04-04-2024
  • Registered-office move, Neep 101, 9402 Ninove

Open the deed in the Belgian Official Gazette

2 directors appointed, 2 resignationsResignations: Provysa bv and Belita Bv · Permanent representatives: Frederik Vande Vyvere and Axel Boedts · Appointments: Bopat and Iparco8 points ▸
  • Director resignation, Provysa bv
  • Director resignation, Belita Bv
  • Director discharge, Provysa bv
  • Director discharge, Belita Bv
  • Permanent representative, Frederik Vande Vyvere
  • Permanent representative, Axel Boedts
  • Director appointment, Bopat
  • Director appointment, Iparco
  • The deed holds 1 more point.

Open the deed in the Belgian Official Gazette

2023
Liquidity times 8 current ratio 2.94 The current ratio rises from 0.37 to 2.94.
Capital increase of €400,000 to €810,022.01Capital from €410,022.01 to €810,022.01, 40,000 new shares · 40,000 shares · Reappointments: PROVYSA, PARCODI and BELITA · General meeting of 13-10-202310 points ▸
  • General meeting, 13-10-2023
  • Capital increase, €400,000
  • Capital, €810,022.01, 75,500 shares
  • Amendment of the articles, article 5
  • Power of attorney, Manuel VAN HOOF
  • Director reappointment, PROVYSA
  • Director reappointment, PARCODI
  • Director reappointment, BELITA
  • Permanent representative, VANDE VYVERE Frederik
  • Permanent representative, BOEDTS Axel, mentioned twice in the deed
  • The deed holds 3 more points.

Open the deed in the Belgian Official Gazette

Annual accounts 2022 filed PDFmicro format · 32 days before the deadline
2022
Annual accounts 2021 filed PDFmicro format · 20 days before the deadline
2021
Resignation: PARCODI (director)General meeting of 16-12-20214 points ▸
  • General meeting, 16-12-2021
  • Capital, €410,022.01, 35,500 shares
  • Registered office clause, Koninklijke Baan 328/A8670 Koksijde, Koninklijke Baan 328/A, 8670 Koksijde
  • Director resignation, PARCODI
  • The deed holds 1 more point.

Open the deed in the Belgian Official Gazette

Annual accounts 2020 filed PDFmicro format · 43 days before the deadline
2020
Annual accounts 2019 filed PDFmicro format · 38 days before the deadline
2019
Liquidity more than 688 times current ratio 1541.76 The current ratio rises from 2.24 to 1541.76. Short-term debt falls from €49,024 to €42.
Registered office moved from Merelbke to KoksijdeNew registered office: Koninklijke Baan 328 A 8670 Koksijde · Previous registered office: Hundelgemsesteenweg 59, 9820 Merelbke · General meeting of 19-08-20192 points ▸
  • General meeting, 19-08-2019
  • Registered-office move, Koninklijke Baan 328 A 8670 Koksijde

Open the deed in the Belgian Official Gazette

Annual accounts 2018 filed PDFmicro format · 50 days before the deadline
1 director appointed, 2 resignations, 2 reappointmentsResignations: Frederik Vande Vyvere (managing director) and Axel Boedts (managing director) · Appointment: Belita (managing director) · Reappointments: Parcodi (huidig mandaat) and Provysa (huidig mandaat) · General meeting of 21-02-201910 points ▸

Open the deed in the Belgian Official Gazette

2018
Back to profit net €11,937 The net result is €11,937, after 3 loss-making years.
Annual accounts 2017 filed PDFmicro format · 49 days before the deadline
2017
Annual accounts 2016 filed PDFmicro format · 53 days before the deadline
2016
Annual accounts 2015 filed PDFabbreviated format · 33 days before the deadline
2015
Liquidity more than 327 times current ratio 1368.12 The current ratio rises from 4.17 to 1368.12. Short-term debt falls from €68,010 to €45.
Annual accounts 2014 filed PDFabbreviated format · 36 days before the deadline
2014
Back to profit net €64,310 The net result is €64,310, after 4 loss-making years.
Annual accounts 2013 filed PDFabbreviated format · 31 days before the deadline
2013
Annual accounts 2012 filed PDFabbreviated format · 22 days before the deadline
2012
Liquidity more than doubled current ratio 246.75 The current ratio rises from 87.79 to 246.75. Short-term debt falls from €8,281 to €1,302.
Annual accounts 2011 filed PDFabbreviated format · 27 days before the deadline
2011
Liquidity more than 36 times current ratio 87.79 The current ratio rises from 2.40 to 87.79. Short-term debt falls from €650,174 to €8,281.
Annual accounts 2010 filed PDFabbreviated format · 25 days before the deadline
2010
Weakest financial year net -€244,011 The net result drops to -€244,011, the lowest from 2006 to 2025. It recovers the following year.
Annual accounts 2009 filed PDFabbreviated format · 36 days before the deadline
2009
Annual accounts 2008 filed PDFabbreviated format · 43 days before the deadline
2008
Annual accounts 2007 filed PDFabbreviated format · 56 days before the deadline
2007
Back to profit net €466,587 The net result is €466,587, after one loss-making year.
Equity above €500,000 equity €916,192 ▲104% Equity rises from €449,605 to €916,192.
Annual accounts 2006 filed PDFabbreviated format · 49 days before the deadline
2006
Annual accounts 2005 filed PDFabbreviated format
2005
Annual accounts 2004 filed PDFabbreviated format
2004
Annual accounts 2003 filed PDFabbreviated format
Annual accounts 2002 filed PDFfull format
2003
Annual accounts 2001 filed PDFfull format
2001
Annual accounts 2000 filed PDFfull format
2000
Annual accounts 1999 filed PDFfull format
1999
Annual accounts 1998 filed PDFfull format
Annual accounts 1997 filed PDFfull format
1998
Annual accounts 1995 filed PDFfull format
1997
Annual accounts 1996 filed PDFfull format
1995
Annual accounts 1994 filed PDFfull format
1994
Annual accounts 1993 filed PDFfull format
1993
Annual accounts 1992 filed PDFfull format
1992
First establishment Industrielaan 4, Aalst
Incorporation published on 17-04-1992

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

A4F was incorporated on 16 March 1992.1 The registered office moved to Koksijde in 2019, to Ninove in 2024 and to Erembodegem in 2025.234 In 2023 the capital was increased by €400,000 to €810,022.5 Total assets rose from €109,739 in 2018 to €2.4m in 2025.6

  1. 1KBO register
  2. 2Belgian Official Gazette, 19-09-2019
  3. 3Belgian Official Gazette, 14-05-2024
  4. 4Belgian Official Gazette, 18-06-2025
  5. 5Belgian Official Gazette, 26-10-2023
  6. 6National Bank, annual accounts 2018 and 2025

Company details

Identity

Enterprise number
0446.981.542
VAT number
BE 0446.981.542
Peppol ID
0208:0446981542
Other Peppol ID
9925:BE0446981542
Legal form
Public limited company
Status
Active, normal situation
Founded
16-03-1992
Financial year
ends on 31 December
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
First Wednesday of June at 11:00
deed of 29-12-2021 (in Dutch)
Peppol
Reachable since 28-11-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
Name
A4F in French
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 29-12-2021 (in Dutch)
Name clauseThe company operates under this name according to its articles.
A4F
deed of 29-12-2021 (in Dutch)
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest”
deed of 29-12-2021 (in Dutch)

Activities

NACEBEL 2025
68122 Development of non-residential building projects main activity
68310 Real estate agency activities
Codes under NACEBEL 2008
41102 Construction of residential and non-residential buildings main activity
68311 Real estate activities
Codes under NACEBEL 2003
70113 main activity
70311
PurposeThe purpose describes the activities the company may carry out under its articles.
“1/ aankoop, verkoop, ruil van onroerende goederen, vestiging of overdracht van onroerende zakelijke rechten; 2/ constructie, renovatie…”
3 activities
  1. 1/ aankoop, verkoop, ruil van onroerende goederen, vestiging of overdracht van onroerende zakelijke rechten
  2. 2/ constructie, renovatie, verbouwing of afbraak van een onroerend goed
  3. 3/ alle financiële, commerciële, promotionele of juridische regelingen die betrekking hebben op onroerende goederen alsook op zakelijke rechten
deed of 29-12-2021 (in Dutch)

Registered office and establishments

1 establishment
Establishment Since Unit number
Industrielaan 4 registered office 9320 Aalst 68121 Development of residential building projects 21-09-1992 2.058.898.640
3 former offices
  • Neeр 101, 9402 Meerbeke until 01-06-2025 · deed of 18-06-2025
  • Koninklijke Baan 328 bus, 8670 Koksijde until 04-04-2024 · deed of 14-05-2024
  • Hundelgemsesteenweg 59, 9820 Merelbke until the deed of 19-09-2019

Buildings and parcels at the address

Ground area
9,053 m²
Buildings
1,601 m²
Volume, LiDAR
10,903 m³
Tallest building
7.8 m
Buildings to scale, each on its own parcel
1,601 m², 7.8 m 1,601 m², 7.8 m

Location

registered office establishment The establishment unit on the map
93 companies at this address See who is registered here

Parcels

Cadastral parcelArea Buildings Height / floors
41342B1195/00M0009,053 m² 1 · 1,601 m² 7.8 m · 2

Invoicing and payment

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 0446.981.542

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