AF LOCATION

Active

Private limited companyfounded 20224 yrs activeRue Joseph Germay 25, 4040 Herstal, BelgiumKBO/BCE: BE 0781.316.489

Summary

AF LOCATION has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €57k and a net result of €28k. Equity is growing by ~94.8% per year across the filed fiscal years. Its solvency ranks better than 42% of 9234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).

Risk analysis Watch Report Compare

AF LOCATIONActiveChecked score 63/100

Risk analysis Report Compare

Checked score

Score 2025

63 / 100

Healthy

Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability83▲+9

Solvency48▲+15

Growth78=

Track record94

Bankruptcy probability, 12 months

0.8% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €3.5k at 30 days acceptable

Liquidity short (current ratio 0.76 against 0.62 in 2024; short-term debt: 43.1% and cash: 8.4% of total assets), and 77.3% of the assets are financed with debt.

Credit check for your own amount and term

Signals

Five signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 68

Relative position

BE, all sectors

reference

Real estate activities (NACE 68)

about 43% fewer bankruptcies

← fewer bankruptcies more bankruptcies →

Annual accounts: healthy financial profile

The latest annual accounts show a healthy profile in solvency, result and liquidity.

NBB · annual accounts 2025

Solvency, return and age of the figures

Solvency

22.7%

Return on assets

11.2%

Age of the figures

9 mo

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 09-07-2026, 22 days ahead of the deadline.

NBB · 4 filings

Deviation from the deadline

2025

22 d early

2024

6 d early

2023

14 d early

2022

7 d early

← before the deadline after the deadline →

Checked, nothing found (2)

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 months

Position in the running window

25-09-2026 today31-12-2026 close31-07-2027 deadline

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2025, abbreviated schema

Turnover

Not included in this filing

EBIT margin

Not included in this filing

Net result

€28k▲ 75.5%

2024 · €16k

2022: €-26klowest in 4 years 2023: €19k▲ +173% vs 2022 2024: €16k▼ -15.1% vs 2023 2025: €28k▲ +75.5% vs 2024highest in 4 years

2022 → 2025

Working capital

€-26k▲ 69.4%

2024 · €-84k

2022: €-78k 2023: €-92k▼ -17.2% vs 2022lowest in 4 years 2024: €-84k▲ +8.1% vs 2023 2025: €-26k▲ +69.4% vs 2024highest in 4 years

2022 → 2025

Trend over the years

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line2022202320242025Trend

Equity€-6k-€13k€29k▲ 123%€57k▲ 96.8% 2022: €-6klowest in 4 years 2023: €13k▲ +322% vs 2022 2024: €29k▲ +123% vs 2023 2025: €57k▲ +96.8% vs 2024highest in 4 years

Operating result€-21k-€29k€36k▲ 25.2%€45k▲ 24.2% 2022: €-21klowest in 4 years 2023: €29k▲ +239% vs 2022 2024: €36k▲ +25.2% vs 2023 2025: €45k▲ +24.2% vs 2024highest in 4 years

Net result€-26k-€19k€16k▼ 15.1%€28k▲ 75.5% 2022: €-26klowest in 4 years 2023: €19k▲ +173% vs 2022 2024: €16k▼ -15.1% vs 2023 2025: €28k▲ +75.5% vs 2024highest in 4 years

Result per fiscal year

Operating resultNet result

The operating result has risen three years in a row; 2025 is 24% above 2024 and is the highest result in the available series.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €250k

67.2%

32.8%

Fixed assets €168k ▼ 25.0%

Current assets €82k ▼ 39.5%

Equity and liabilities €250k

22.7%

77.3%

Equity €57k ▲ 96.8%

Debt €193k ▼ 41.5%

Debt's share of the balance-sheet total falls from 92.0% to 77.3%. Equity is higher and debt is lower.

Key figures and ratios

2025 value · change against 2024

EBITDA

€161k▲

2024 · €130k

Cash flow

€144k▲

2024 · €110k

Current ratio

0.76▲

2024 · 0.62

Debt to equity

3.41▼

2024 · 11.46

ROE

49.2%▼

2024 · 55.2%

ROA

11.2%▲

2024 · 4.4%

Interest coverage

21.52▲

2024 · 17.61

Debt ≤ 1 year

€108k▼

2024 · €220k

Debt > 1 year

€84k▼

2024 · €105k

Income taxes

€9k▲

2024 · €3k

Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

As filed By statement

Filed annual accounts As filed with the NBB · 2025 against 2024 · 44 lines

Balance sheet Code20242025

Assets

Total assets20/58€360k€250k▼

Fixed assets21/28€224k€168k▼

Tangible fixed assets22/27€204k€148k▼

Plant, machinery and equipment23-€4k

Furniture and vehicles24€204k€144k▼

Financial fixed assets28€20k€20k=

Current assets29/58€136k€82k▼

Amounts receivable within one year40/41€124k€60k▼

Trade receivables40€86k€1k▼

Other amounts receivable41€38k€59k▲

Cash at bank and in hand54/58€6k€21k▲

Deferred charges and accrued income490/1€5k€909▼

Equity and liabilities

Total equity and liabilities10/49€360k€250k▼

Equity10/15€29k€57k▲

Contributions10/11€20k€20k=

Profit (loss) carried forward14€9k€37k▲

Amounts payable17/49€331k€193k▼

Amounts payable after more than one year17€105k€84k▼

Financial debts170/4€105k€84k▼

Amounts payable within one year42/48€220k€108k▼

Current portion of amounts payable after more than one year42€68k€89k▲

Trade debts44€2k€673▼

Suppliers440/4€2k€673▼

Taxes, remuneration and social security45€9k€12k▲

Taxes450/3€4k€12k▲

Remuneration and social security454/9€4k-

Other amounts payable47/48€141k€6k▼

Accrued charges and deferred income492/3€6k€1k▼

Income statement Code20242025

Non-recurring operating income76A€13k-

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€94k€116k▲

Other operating charges640/8€1k€2k▲

Gross operating margin9900€132k€163k▲

Operating profit (loss)9901€36k€45k▲

Financial income75/76B€0€6▲

Recurring financial income75€0€6▲

Financial charges65/66B€17k€8k▼

Recurring financial charges65€7k€7k▲

Non-recurring financial charges66B€10k€973▼

Profit (loss) for the period before taxes9903€19k€37k▲

Income taxes67/77€3k€9k▲

Profit (loss) for the period9904€16k€28k▲

Profit (loss) for the period to be appropriated9905€16k€28k▲

Appropriation of the result

Profit (loss) to be appropriated9906€9k€37k▲

Profit (loss) brought forward from the previous period14P€-7k€9k▲

The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Accounts by statement

Income statement Balance sheet Cash flow

Line	2022	2023	2024	2025	Change
Non-recurring operating income76A	-	-	€13k	-	-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630	€53k	€88k	€94k	€116k	▲ 22.8%
Other operating charges640/8	€384	€1k	€1k	€2k	▲ 34.7%
Gross operating margin9900	€32k	€118k	€132k	€163k	▲ 23.3%
Operating profit (loss)9901	€-21k	€29k	€36k	€45k	▲ 24.2%
Financial income75/76B	-	€1	€0	€6	▲ 59,900%
Recurring financial income75	-	€1	€0	€6	▲ 59,900%
Financial charges65/66B	€5k	€10k	€17k	€8k	▼ 50.2%
Recurring financial charges65	€5k	€10k	€7k	€7k	▲ 0.9%
Non-recurring financial charges66B	-	-	€10k	€973	▼ 89.8%
Profit (loss) for the period before taxes9903	€-26k	€19k	€19k	€37k	▲ 89.6%
Income taxes67/77	-	€233	€3k	€9k	▲ 157%
Profit (loss) for the period9904	€-26k	€19k	€16k	€28k	▲ 75.5%
Profit (loss) for the period to be appropriated9905	€-26k	€19k	€16k	€28k	▲ 75.5%

Line	2022	2023	2024	2025	Change
Assets
Total assets20/58	€322k	€308k	€360k	€250k	▼ 30.4%
Fixed assets21/28	€243k	€284k	€224k	€168k	▼ 25.0%
Tangible fixed assets22/27	€223k	€264k	€204k	€148k	▼ 27.4%
Plant, machinery and equipment23	€2k	€1k	-	€4k	-
Furniture and vehicles24	€221k	€263k	€204k	€144k	▼ 29.3%
Financial fixed assets28	€20k	€20k	€20k	€20k	=
Current assets29/58	€79k	€24k	€136k	€82k	▼ 39.5%
Amounts receivable within one year40/41	€70k	€17k	€124k	€60k	▼ 51.7%
Trade receivables40	€70k	€17k	€86k	€1k	▼ 98.5%
Other amounts receivable41	-	-	€38k	€59k	▲ 53.0%
Cash at bank and in hand54/58	€8k	€5k	€6k	€21k	▲ 244%
Deferred charges and accrued income490/1	€62	€2k	€5k	€909	▼ 81.9%
Equity and liabilities
Total equity and liabilities10/49	€322k	€308k	€360k	€250k	▼ 30.4%
Equity10/15	€-6k	€13k	€29k	€57k	▲ 96.8%
Contributions10/11	€20k	€20k	€20k	€20k	=
Profit (loss) carried forward14	€-26k	€-7k	€9k	€37k	▲ 315%
Amounts payable17/49	€328k	€295k	€331k	€193k	▼ 41.5%
Amounts payable after more than one year17	€166k	€173k	€105k	€84k	▼ 19.9%
Financial debts170/4	€166k	€173k	€105k	€84k	▼ 19.9%
Amounts payable within one year42/48	€157k	€116k	€220k	€108k	▼ 50.9%
Current portion of amounts payable after more than one year42	€48k	€66k	€68k	€89k	▲ 30.8%
Trade debts44	€2k	€2k	€2k	€673	▼ 64.4%
Suppliers440/4	€2k	€2k	€2k	€673	▼ 64.4%
Taxes, remuneration and social security45	€11k	€17k	€9k	€12k	▲ 35.0%
Taxes450/3	€11k	€15k	€4k	€12k	▲ 167%
Remuneration and social security454/9	-	€2k	€4k	-	-
Other amounts payable47/48	€96k	€32k	€141k	€6k	▼ 95.5%
Accrued charges and deferred income492/3	€4k	€6k	€6k	€1k	▼ 76.4%

Line	2022	2023	2024	2025	Change
Profit (loss) for the period9904	€-26k	€19k	€16k	€28k	▲ 75.5%
+ Depreciation and write-downs630	€53k	€88k	€94k	€116k	▲ 22.8%
Operating cash flow (approximation)	€27k	€107k	€110k	€144k	▲ 30.5%
Investment in fixed assets (approximation)	-	€-129k	€-35k	€-60k	▼ 71.3%
Change in cash	-	€-3k	€610	€15k	▲ 2,343%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

Timeline · acts, filings and financial milestones

All 6Financial 2Filings 4

Next filing, fiscal year 2026, expected by 31-07-2027

2026

09-07

NBB filing Annual accounts filed

fiscal year 2025 · abbreviated schema

2025

31-12

Financial Highest result since 2022net €28k ▲75.5%

Operating result €45k, net result €28k, both a record.

25-07

NBB filing Annual accounts filed

fiscal year 2024 · full schema

2024

17-07

NBB filing Annual accounts filed

fiscal year 2023 · full schema

2023

31-12

Financial Back to profitnet €19k

Net result €19k after one loss-making year.

24-07

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

0 of 1 act read

About the unread acts

We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.

Have them read with priority Sign in to place this company at the front of the reading queue.

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

seat establishment The establishment unit on the map

Ground 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.

3 companies at this address See who is registered here

1 establishment unit

AF LOCATION

Rue Joseph Germay 25, 4040 HerstalRenting and operating of own or leased residential real estate, excluding social housing

since 20222.328.265.858

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

Good to know

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

Charleroi · Eq €56,608

Officenter Immo 2 A12

BE 0728.902.441

Aartselaar · Eq €56,595

Hidden

BE 0797.610.115

Antwerpen · Eq €57,062

VOS IMMO 14

BE 0804.152.071

Bilzen-Hoeselt · Eq €57,155

Of 12,041 companies in sector 68203 we hold annual accounts for 5,989. 3,228 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Identification & contact

Identification

Legal formPrivate limited company

Founded28-01-2022

Fiscal year end31-12

Activities, NACEBEL 2025

68203Renting and operating of own or leased non-residential real estate, excluding land

68201Renting and operating of own or leased residential real estate, excluding social housing

Contact

E-mail info@aftravaux.be

Phone 0495273119

Scores and ratios are computed by Checked and are not a credit decision.