AF CONSTRUCTION
ActiveThe computed 12-month bankruptcy probability of AF CONSTRUCTION is 2.2% (moderate). The 2025 annual accounts show equity of €92k and a net result of €37k. Equity is growing by ~53.1% per year across the filed fiscal years. Its solvency ranks better than 46% of 2154 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
52
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability86▲+8
Solvency60▲+16
Growth78=
Track record94
Bankruptcy probability, 12 months
2.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €4.5k at 30 days acceptable
Liquidity tight (current ratio 1.5 against 1.23 in 2024; short-term debt: 65.5% and cash: 1% of total assets), and 65.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
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 41
Relative position
BE, all sectors
reference
Sector 41
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
34.5%
Return on assets
13.8%
Age of the figures
9 mo
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 29-07-2026, 2 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
2 d early
2024
1 d early
2023
14 d early
← before the deadline
after the deadline →
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
16-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€37k▲ 66.0%
2024 · €22k
2023: €13k
2024: €22k
2023 → 2025
Working capital
€87k▲ 63.9%
2024 · €53k
2023: €31k
2024: €53k
2023 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line202320242025Trend
Equity€33k-€55k▲ 66.5%€92k▲ 66.3%
Operating result€17k-€28k▲ 66.9%€51k▲ 80.0%
Net result€13k-€22k▲ 66.2%€37k▲ 66.0%
Result per fiscal year
Operating resultNet result
The operating result has risen two years in a row; 2025 is 80% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €267k
Fixed assets
€5k▲ 123%
Current assets
€262k▼ 8.5%
Equity and liabilities €267k
Equity
€92k▲ 66.3%
Debt
€175k▼ 25.1%
The debt ratio falls from 80.8% to 65.5%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€53k▲
2024 · €29k
Cash flow
€39k▲
2024 · €23k
Solvency
34.5%▲
2024 · 19.2%
Current ratio
1.50▲
2024 · 1.23
Quick ratio
1.50▲
2024 · 1.23
Debt / equity
1.89▼
2024 · 4.20
ROE
39.9%▼
2024 · 39.9%
ROA
13.8%▲
2024 · 7.7%
Interest coverage
195.86▲
2024 · 117.57
Debt
€175k▼
2024 · €233k
Debt ≤ 1 year
€175k▼
2024 · €233k
Income taxes
€14k▲
2024 · €6k
Staff costs
€112k▲
2024 · €68k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€289k€267k▼
Fixed assets21/28€2k€5k▲
Tangible fixed assets22/27€2k€5k▲
Plant, machinery and equipment23€2k€5k▲
Financial fixed assets28€500€500=
Current assets29/58€287k€262k▼
Amounts receivable within one year40/41€155k€259k▲
Trade receivables40€56k€7k▼
Other amounts receivable41€100k€252k▲
Cash at bank and in hand54/58€126k€3k▼
Deferred charges and accrued income490/1€5k-
Equity and liabilities
Total equity and liabilities10/49€289k€267k▼
Equity10/15€55k€92k▲
Contributions10/11€20k€20k=
Profit (loss) carried forward14€35k€72k▲
Amounts payable17/49€233k€175k▼
Amounts payable within one year42/48€233k€175k▼
Current portion of amounts payable after more than one year42€50k-
Trade debts44€176k€148k▼
Suppliers440/4€176k€148k▼
Taxes, remuneration and social security45€7k€22k▲
Taxes450/3€6k€19k▲
Remuneration and social security454/9€1k€3k▲
Other amounts payable47/48€447€4k▲
Income statement
Code20242025
Remuneration, social security and pensions62€68k€112k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€1k€2k▲
Other operating charges640/8€285-
Gross operating margin9900€98k€165k▲
Operating profit (loss)9901€28k€51k▲
Financial income75/76B€1€180▲
Recurring financial income75€1€180▲
Financial charges65/66B€248€270▲
Recurring financial charges65€248€270▲
Profit (loss) for the period before taxes9903€28k€51k▲
Income taxes67/77€6k€14k▲
Profit (loss) for the period9904€22k€37k▲
Profit (loss) for the period to be appropriated9905€22k€37k▲
Appropriation of the result
Profit (loss) to be appropriated9906€35k€72k▲
Profit (loss) brought forward from the previous period14P€13k€35k▲
Social balance
Average headcount (FTE)90871.52.7▲
The notes to these accounts (6 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
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Highest result since 2023net €37k ▲66%
Operating result €51k, net result €37k, both a record.
30-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
17-07
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 act for this company is 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, Herstal · 1 establishment unit since 2022
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.
Rue Joseph Germay 254040 HerstalGround area
5,980 m²
Building footprint
388 m²
Volume, LiDAR
1,776 m³
Parcel 62313E1122/00E003, Wallonia · tallest building 5.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
AF CONSTRUCTION
since 20222.337.981.496
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62313E1122/00E003 | Wallonia | 5,980 m² | 1 · 388 m² | 5.2 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
BOUWBEDRIJF HOSTE
BE 0833.639.873
Sint-Laureins · Eq €92k
INTELCON
BE 0447.561.067
Gent · Eq €92k
DA SILVA & Fils
BE 0801.301.558
Herstal · Eq €92k
VD CONSTRUCT
BE 0787.745.809
Kortrijk · Eq €92k
SORIPE
BE 0827.739.404
Anderlecht · Eq €92k
Of 29,808 companies in sector 41001 we hold annual accounts for 16,033. 13,152 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded19-10-2022
Fiscal year end31-12
Activities, NACEBEL
41001General construction of residential buildings
43110Demolition
43120Site preparation
43212Electrical installation work in industrial facilities
43221Plumbing work
43240Other construction installation
43299Specialised construction activities
Sources
Crossroads Bank for EnterprisesNational Bank · 3 filingsAddress and cadastre registers
Data from official sources, last processed on 16-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:afsrl@hotmail.com