AF LOGISTIC
Open bankruptcyA bankruptcy procedure is open for AF LOGISTIC according to publications in the Belgian State Gazette; curator: CAROLINE DE LEPELEIRE.
Summary
The 2024 annual accounts show equity of €8k and a net result of €-109k.
Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 16% of 1306 sector peers (2024).
NBB · sector comparisonPosition among 1306 sector peers
Solvency
better than 16%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-08-2025, 31 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
31 d late
2022
31 d late
2021
19 d late
2020
27 d late
2019
91 d late
2018
30 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Turnover
€370k
EBIT margin
51.2%
Net result
€-109k▼ 655%
2022 · €-14k
2018: €117k
2019: €9k
2020: €-7k
2021: €-17k
2022: €-14k
2018 → 2024
Working capital
€-12k
2022 · €20k
2018: €-134k
2019: €-154k
2020: €-170k
2021: €-122k
2022: €20k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20192020202120222024Trend
Equity€220k-€213k▼ 3.2%€196k▼ 7.9%€181k▼ 7.4%€8k▼ 95.7%
Operating result€18k-€2k▼ 89.7%€-14k€-16k▼ 17.6%€-96k▼ 495%
Net result€9k-€-7k€-17k▼ 137%€-14k▲ 13.9%€-109k▼ 655%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result is €-96k in 2024, compared with €-16k in 2022. Comparable figures for the intervening years are unavailable.
Balance-sheet composition
2024 in colour, 2022 as the grey bar beneath
Assets €408k
Fixed assets
€167k ▼ 24.1%
Current assets
€240k ▼ 27.1%
Equity and liabilities €408k
Equity
€8k ▼ 95.7%
Provisions
€0 ▼ 100%
Debt
€400k ▲ 10.2%
Debt's share of the balance-sheet total rises from 65.9% to 98.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€-51k▼
2022 · €46k
Cash flow
€-63k▼
2022 · €48k
Current ratio
0.95▼
2022 · 1.06
Debt to equity
51.07▲
2022 · 2.00
ROA
-26.7%▼
2022 · -2.6%
Interest coverage
-4.00▼
2022 · 10.66
Debt ≤ 1 year
€252k▼
2022 · €310k
Debt > 1 year
€35k
A ratio outside any meaningful range has been withheld (balance sheet total €408k, equity €8k).
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 · 2024 against 2022 · 54 lines
Balance sheet
Code20222024
Assets
Total assets20/58€550k€408k▼
Fixed assets21/28€221k€167k▼
Intangible fixed assets21€80k€27k▼
Tangible fixed assets22/27€107k€107k▼
Land and buildings22€24k€24k=
Plant, machinery and equipment23€28k-
Furniture and vehicles24€6k€4k▼
Leasing and similar rights25-€47k
Other tangible fixed assets26€49k€32k▼
Financial fixed assets28€34k€34k=
Current assets29/58€329k€240k▼
Amounts receivable within one year40/41€318k€232k▼
Trade receivables40€77k€43k▼
Other amounts receivable41€241k€189k▼
Cash at bank and in hand54/58€4k€709▼
Deferred charges and accrued income490/1€8k€8k▲
Equity and liabilities
Total equity and liabilities10/49€550k€408k▼
Equity10/15€181k€8k▼
Contributions10/11€62k€62k=
Reserves13€17k€1k▼
Non-distributable reserves130/1€1k€1k=
Reserves not available under the articles1311€1k€1k=
Tax-exempt reserves132€16k-
Profit (loss) carried forward14€103k€-55k▼
Provisions and deferred taxes16€6k-
Deferred taxes168€6k-
Amounts payable17/49€363k€400k▲
Amounts payable after more than one year17-€35k
Financial debts170/4-€35k
Amounts payable within one year42/48€310k€252k▼
Current portion of amounts payable after more than one year42€58k€30k▼
Trade debts44€205k€163k▼
Suppliers440/4€205k€163k▼
Taxes, remuneration and social security45€35k€34k▼
Taxes450/3€35k€34k▼
Other amounts payable47/48€12k€25k▲
Accrued charges and deferred income492/3€53k€113k▲
Income statement
Code20222024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€62k€46k▼
Other operating charges640/8€2k€15k▲
Non-recurring operating charges66A€-64€5k▲
Gross operating margin9900€48k€-31k▼
Operating profit (loss)9901€-16k€-96k▼
Financial income75/76B€2-
Recurring financial income75€2-
Financial charges65/66B€4k€13k▲
Recurring financial charges65€4k€13k▲
Profit (loss) for the period before taxes9903€-21k€-109k▼
Transfer from deferred taxes780€7k-
Income taxes67/77€1k-
Profit (loss) for the period9904€-14k€-109k▼
Transfer from tax-exempt reserves789€17k-
Profit (loss) for the period to be appropriated9905€3k€-109k▼
Appropriation of the result
Profit (loss) to be appropriated9906€103k€-55k▼
Profit (loss) brought forward from the previous period14P€100k€54k▼
The notes to these accounts (12 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
19-01
Bankruptcy
Opening
Ondernemingsrechtbank Brussel · AF LOGISTIC NV WATER- LOOSE STEENWEG 200/8, 1640 SINT-GENESIUS-RODE · event 13-01-2026
2025
31-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 31 days late
2024
31-12
Financial
Weakest financial yearnet €-109k
Net result drops to €-109k, the lowest in the series.
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
19-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 19 days late
2021
27-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 27 days late
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 91 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
08-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
2016
17-06
NBB filing
Annual accounts filed
fiscal year 2015 · full schema
2015
21-08
NBB filing
Annual accounts filed
fiscal year 2014 · full schema · 21 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
8 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, Sint-Genesius-Rode · 1 establishment unit since 2019
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.
Waterloose Steenweg 2001640 Sint-Genesius-RodeGround area
9,691 m²
Building footprint
1,550 m²
Volume, LiDAR
16,998 m³
2 parcels, Flanders, Wallonia · tallest building 23.0 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
AF Logistic
since 20192.284.340.102
2 parcels
Flanders
1
(50%)
Wallonia
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 22552E0048/00Z025 | Flanders | 7,308 m² | 1 · 1,453 m² | 23.0 m · 4 fl. |
| 62087A0082/00R000 | Wallonia | 2,383 m² | 1 · 97 m² | 4.8 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | CAROLINE DE LEPELEIRE KUNSTLAAN 24/9 A,
1000 BRUSSEL 1 |
13-01-2026 → present |
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Of 1,030 companies in sector 52100 we hold annual accounts for 765. 125 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
Founded28-12-2000
Fiscal year end31-12
Abbreviation FR
A.F.L.
Activities, NACEBEL 2025
52100Warehousing and storage
68203Renting and operating of own or leased non-residential real estate, excluding land
Sources
Crossroads Bank for EnterprisesNational Bank · 23 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.