AF BELGIUM
ActiveSummary
AF BELGIUM has been active since 1979 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €998k and a net result of €-240k. Equity is growing by ~3.6% per year across the filed fiscal years. Its solvency ranks better than 29% of 4867 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
44
/ 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
Profitability13▼-24
Solvency51▼-10
Growth31▼-17
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €40k at 30 days only on tighter terms
Liquidity tight (current ratio 1.36 against 1.77 in 2024; short-term debt: 66.3% and cash: 0.7% of total assets), and 73.9% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
26.1%
Return on assets
-6.3%
Age of the figures
9 mo
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 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year €-240k
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 11-06-2026, 50 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
50 d early
2024
50 d early
2023
41 d early
2022
77 d early
2021
53 d early
2020
87 d early
2019
77 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
24-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€4.41M▼ 18.6%
2024 · €5.42M
2018: €4.94M
2019: €3.95M
2020: €3.55M
2021: €4.20M
2022: €4.95M
2023: €4.84M
2024: €5.42M
2018 → 2025
EBIT margin
-4.7%▼ 3.1pp
2024 · -1.7%
2018: 11.4%
2019: 10.6%
2020: 2.9%
2021: 10.7%
2022: 11.1%
2023: 4.2%
2024: -1.7%
2018 → 2025
Net result
€-240k▼ 113%
2024 · €-113k
2018: €374k
2019: €291k
2020: €65k
2021: €318k
2022: €396k
2023: €135k
2024: €-113k
2018 → 2025
Working capital
€919k▼ 30.2%
2024 · €1.32M
2018: €1.24M
2019: €1.33M
2020: €1.35M
2021: €1.55M
2022: €1.52M
2023: €1.65M
2024: €1.32M
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€4.20M-€4.95M▲ 17.8%€4.84M▼ 2.2%€5.42M▲ 12.0%€4.41M▼ 18.6%
Equity€1.17M-€1.22M▲ 3.9%€1.35M▲ 11.1%€1.24M▼ 8.3%€998k▼ 19.4%
Operating result€450k-€548k▲ 21.6%€201k▼ 63.3%€-90k€-209k▼ 132%
Net result€318k-€396k▲ 24.5%€135k▼ 65.9%€-113k€-240k▼ 113%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €209k in 2025 against €90k in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.82M
Fixed assets
€370k ▼ 11.3%
Current assets
€3.45M ▲ 14.3%
Equity and liabilities €3.82M
Equity
€998k ▼ 19.4%
Provisions
€14k ▼ 36.7%
Debt
€2.81M ▲ 29.1%
Debt's share of the balance-sheet total rises from 63.3% to 73.5%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-35k▼
2024 · €63k
Cash flow
€-66k▼
2024 · €41k
Current ratio
1.36▼
2024 · 1.77
Quick ratio
0.70▼
2024 · 0.99
Debt to equity
2.82▲
2024 · 1.76
ROE
-24.0%▼
2024 · -9.1%
ROA
-6.3%▼
2024 · -3.3%
Interest coverage
-1.23▼
2024 · 3.42
Debt ≤ 1 year
€2.53M▲
2024 · €1.70M
Debt > 1 year
€122k▼
2024 · €215k
Income taxes
€2k▲
2024 · €2k
Staff costs
€1.67M▲
2024 · €1.67M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 79 lines
Balance sheet
Code20242025
Assets
Total assets20/58€3.44M€3.82M▲
Fixed assets21/28€417k€370k▼
Tangible fixed assets22/27€417k€370k▼
Plant, machinery and equipment23€17k€22k▲
Furniture and vehicles24€3k€1k▼
Leasing and similar rights25€348k€248k▼
Other tangible fixed assets26€49k€99k▲
Current assets29/58€3.02M€3.45M▲
Stocks and contracts in progress3€1.33M€1.68M▲
Stocks30/36€1.18M€1.19M▲
Goods purchased for resale34€1.18M€1.19M▲
Contracts in progress37€146k€489k▲
Amounts receivable within one year40/41€1.38M€1.38M▲
Trade receivables40€1.32M€1.34M▲
Other amounts receivable41€54k€42k▼
Cash at bank and in hand54/58€116k€26k▼
Deferred charges and accrued income490/1€199k€365k▲
Equity and liabilities
Total equity and liabilities10/49€3.44M€3.82M▲
Equity10/15€1.24M€998k▼
Contributions10/11€372k€372k=
Capital10€372k€372k=
Issued capital100€372k€372k=
Reserves13€43k€43k=
Non-distributable reserves130/1€37k€37k=
Legal reserve130€37k€37k=
Other1319€131€131=
Distributable reserves133€5k€5k=
Profit (loss) carried forward14€824k€584k▼
Provisions and deferred taxes16€22k€14k▼
Provisions for liabilities and charges160/5€22k€14k▼
Other liabilities and charges164/5€22k€14k▼
Amounts payable17/49€2.18M€2.81M▲
Amounts payable after more than one year17€215k€122k▼
Financial debts170/4€215k€122k▼
Leasing and similar obligations172€215k€122k▼
Amounts payable within one year42/48€1.70M€2.53M▲
Current portion of amounts payable after more than one year42€128k€120k▼
Financial debts43-€84k
Credit institutions430/8-€84k
Trade debts44€1.24M€1.25M▲
Suppliers440/4€1.24M€1.25M▲
Advances received on contracts in progress46€68k€458k▲
Taxes, remuneration and social security45€222k€243k▲
Taxes450/3€70k€67k▼
Remuneration and social security454/9€152k€176k▲
Other amounts payable47/48€51k€379k▲
Accrued charges and deferred income492/3€258k€154k▼
Income statement
Code20242025
Operating income70/76A€5.19M€4.93M▼
Turnover70€5.42M€4.41M▼
Change in stocks of work in progress, finished goods and contracts in progress71€-332k€343k▲
Own construction capitalised72€59k€64k▲
Other operating income74€44k€112k▲
Operating charges60/66A€5.29M€5.14M▼
Goods for resale, raw materials and consumables60€2.29M€2.21M▼
Purchases600/8€2.51M€2.30M▼
Change in stocks: decrease (increase)609€-222k€-87k▲
Services and other goods61€1.07M€970k▼
Remuneration, social security and pensions62€1.67M€1.67M▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€154k€174k▲
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€67k€95k▲
Provisions for liabilities and charges: additions (uses and reversals)635/8€5k€-8k▼
Other operating charges640/8€30k€27k▼
Operating profit (loss)9901€-90k€-209k▼
Financial income75/76B€254€1k▲
Recurring financial income75€254€1k▲
Income from current assets751€95€137▲
Other financial income752/9€159€952▲
Financial charges65/66B€21k€30k▲
Recurring financial charges65€21k€30k▲
Debt charges650€19k€29k▲
Other financial charges652/9€2k€835▼
Profit (loss) for the period before taxes9903€-111k€-238k▼
Income taxes67/77€2k€2k▲
Taxes670/3€2k€2k▲
Profit (loss) for the period9904€-113k€-240k▼
Profit (loss) for the period to be appropriated9905€-113k€-240k▼
Appropriation of the result
Profit (loss) to be appropriated9906€824k€584k▼
Profit (loss) brought forward from the previous period14P€936k€824k▼
Social balance
Average headcount (FTE)908720.021.0▲
The notes to these accounts (77 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
11-06
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €-240k
Net result drops to €-240k, the lowest in the series.
11-06
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
20-06
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
15-05
NBB filing
Annual accounts filed
fiscal year 2022 · full schema
2022
31-12
Financial
Highest result since 2018net €396k ▲24.5%
Net result €396k, the highest in the series.
08-06
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2021
05-05
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2020
15-05
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
22-05
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
01-06
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2017
29-05
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
12 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, Braine-l'Alleud · 1 establishment unit since 1999
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.
Chaussée de Tubize 4851420 Braine-l'AlleudGround area
1.4 ha
Building footprint
7,632 m²
Volume, LiDAR
54,995 m³
Parcel 25743G0167/00F000, Wallonia · tallest building 8.9 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
AF BELGIUM
since 19992.017.019.780
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 25743G0167/00F000 | Wallonia | 1.4 ha | 1 · 7,632 m² | 8.9 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
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QUALITY PUMPS & MACHINES
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CRANE PROCESS FLOW TECHNOLOGIES
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Of 116 companies in sector 46645 we hold annual accounts for 78. 62 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded18-12-1979
Fiscal year end31-12
Activities, NACEBEL 2025
46645Wholesale trade
46649Wholesale of other machinery and equipment
28130Manufacture of machinery and equipment not elsewhere classified
33120Repair and maintenance of machinery
33200Installation of industrial machinery and equipment
46643Wholesale of electrical equipment, including installation materials
Sources
Crossroads Bank for EnterprisesNational Bank · 46 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.