AF-T
ActiveSummary
AF-T has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €64,589 and a net result of €2,957. Equity is growing by ~18.7% per year across the filed fiscal years. Its solvency ranks better than 66% of 28374 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability60▲+60
Solvency86▲+8
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,000 at 30 days acceptable
Liquidity ample (current ratio 2.52 against 2.04 in 2024; short-term debt: 38.7% and cash: 20.8% of total assets), and 38.7% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← 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
61.3%
Return on assets
2.8%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 14-08-2026, 14 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 · 9 filingsDeviation from the deadline
2025
14 d late
2024
29 d late
2023
9 d late
2022
11 d late
2021
30 d late
2020
31 d late
2019
43 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 24 days after the deadline; the sector median for financial year 2024 is 1 day before the deadline, and 42% of the sector filed late.
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. Usually files around 14 August (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Turnover
€251,819
EBIT margin
8.4%
Net result
€2,957
2024 · -€22,542
Working capital
€61,873▲ 10.2%
2024 · €56,124
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€251,819
Operating result€21,146▲ 24.8%€28,874▲ 36.5%€24,682▼ 14.5%-€23,450€3,203
Net result€9,918within the sector's middle half▼ 7.8%€20,191within the sector's middle half▲ 104%€19,262within the sector's middle half▼ 4.6%-€22,542below the sector's middle half€2,957within the sector's middle half
EBIT margin8.4%
Equity€46,721within the sector's middle half▲ 26.9%€64,912within the sector's middle half▲ 38.9%€84,174within the sector's middle half▲ 29.7%€61,632within the sector's middle half▼ 26.8%€64,589within the sector's middle half▲ 4.8%
Total assets€127,906within the sector's middle half▲ 38.8%€125,705within the sector's middle half▼ 1.7%€150,172within the sector's middle half▲ 19.5%€115,839within the sector's middle half▼ 22.9%€105,395within the sector's middle half▼ 9.0%
Debt€81,185▲ 46.6%€60,793▼ 25.1%€65,998▲ 8.6%€54,207▼ 17.9%€40,806▼ 24.7%
Working capital€36,936within the sector's middle half▲ 56.4%€58,131within the sector's middle half▲ 57.4%€78,152within the sector's middle half▲ 34.4%€56,124within the sector's middle half▼ 28.2%€61,873within the sector's middle half▲ 10.2%
Solvency36.5%within the sector's middle half▼ 3.4pp51.6%within the sector's middle half▲ 15.1pp56.1%within the sector's middle half▲ 4.4pp53.2%within the sector's middle half▼ 2.8pp61.3%within the sector's middle half▲ 8.1pp
Current ratio1.45within the sector's middle half▼ 0.011.96within the sector's middle half▲ 0.502.18within the sector's middle half▲ 0.232.04within the sector's middle half▼ 0.152.52within the sector's middle half▲ 0.48
Return on assets (ROA)7.8%within the sector's middle half▼ 3.9pp16.1%within the sector's middle half▲ 8.3pp12.8%within the sector's middle half▼ 3.2pp-19.5%below the sector's middle half▼ 32.3pp2.8%within the sector's middle half▲ 22.3pp
Staff (FTE)2▲ 53.8%2=2=2=2=
above
within
below
the middle half (P25 to P75) of NACE 43, Specialised construction activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €3,203 after a loss of €23,450 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €105,395
Fixed assets
€2,716 ▼ 50.7%
Current assets
€102,679 ▼ 6.9%
Equity and liabilities €105,395
Equity
€64,589 ▲ 4.8%
Debt
€40,806 ▼ 24.7%
Debt's share of the balance-sheet total falls from 46.8% to 38.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€5,995▲
2024 · -€21,178
Cash flow
€5,749▲
2024 · -€20,270
Debt to equity
0.63▼
2024 · 0.88
ROE
4.6%▲
2024 · -36.6%
Interest coverage
4.50▲
2024 · -28.04
Debt ≤ 1 year
€40,806▼
2024 · €54,207
Income taxes
€132▲
2024 · €128
Staff costs
€104,160▲
2024 · €102,571
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 5,048 companies that looked in July 2024 the way this one looks now, 2.2% went bankrupt within 24 months and 94% are still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
2.2%
went bankrupt
3.8%
stopped otherwise
94%
still going
For this company itself Checked computes a bankruptcy probability of 1.0% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 5,048 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €251,819 | - | - | - | - | - |
| Non-recurring operating income76A | €0 | - | - | - | - | - |
| Goods, raw materials, services and sundry goods60/61 | €158,402 | - | - | - | - | - |
| Remuneration, social security and pensions62 | €89,824 | €84,584 | €96,778 | €102,571 | €104,160 | ▲ 1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,801 | €3,004 | €3,178 | €2,272 | €2,792 | ▲ 22.9% |
| Other operating charges640/8 | €2,293 | €1,165 | €1,202 | €2,522 | €5,143 | ▲ 104% |
| Gross operating margin9900 | €121,063 | €117,627 | €125,840 | €83,914 | €115,298 | ▲ 37.4% |
| Operating profit (loss)9901 | €21,146 | €28,874 | €24,682 | -€23,450 | €3,203 | ▲ 114% |
| Financial income75/76B | €202 | €12 | €79 | €1,791 | €1,218 | ▼ 32.0% |
| Recurring financial income75 | €202 | €12 | €79 | €1,791 | €1,218 | ▼ 32.0% |
| Financial charges65/66B | €1,962 | €651 | €921 | €755 | €1,332 | ▲ 76.4% |
| Recurring financial charges65 | €1,962 | €651 | €921 | €755 | €1,332 | ▲ 76.4% |
| Profit (loss) for the period before taxes9903 | €19,387 | €28,235 | €23,840 | -€22,414 | €3,089 | ▲ 114% |
| Income taxes67/77 | €9,469 | €8,044 | €4,578 | €128 | €132 | ▲ 3.1% |
| Profit (loss) for the period9904 | €9,918 | €20,191 | €19,262 | -€22,542 | €2,957 | ▲ 113% |
| Profit (loss) for the period to be appropriated9905 | €9,918 | €20,191 | €19,262 | -€22,542 | €2,957 | ▲ 113% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €127,906 | €125,705 | €150,172 | €115,839 | €105,395 | ▼ 9.0% |
| Fixed assets21/28 | €9,785 | €6,781 | €6,022 | €5,508 | €2,716 | ▼ 50.7% |
| Intangible fixed assets21 | €6,883 | €5,483 | €4,083 | €2,683 | €1,283 | ▼ 52.2% |
| Tangible fixed assets22/27 | €2,902 | €1,298 | €1,939 | €2,824 | €1,432 | ▼ 49.3% |
| Plant, machinery and equipment23 | €602 | €148 | €1,272 | €2,381 | €1,211 | ▼ 49.1% |
| Furniture and vehicles24 | €2,300 | €1,150 | €667 | €444 | €221 | ▼ 50.2% |
| Current assets29/58 | €118,121 | €118,924 | €144,150 | €110,331 | €102,679 | ▼ 6.9% |
| Stocks and contracts in progress3 | €21,121 | €15,231 | €31,084 | €6,387 | €0 | ▼ 100% |
| Contracts in progress37 | €21,121 | €15,231 | €31,084 | €6,387 | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €76,633 | €94,074 | €92,053 | €81,183 | €78,882 | ▼ 2.8% |
| Trade receivables40 | €43,153 | €68,296 | €54,689 | €48,231 | €52,259 | ▲ 8.4% |
| Other amounts receivable41 | €33,480 | €25,778 | €37,364 | €32,952 | €26,623 | ▼ 19.2% |
| Cash at bank and in hand54/58 | €20,315 | €8,220 | €20,326 | €20,163 | €21,902 | ▲ 8.6% |
| Deferred charges and accrued income490/1 | €52 | €1,398 | €687 | €2,598 | €1,895 | ▼ 27.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €127,906 | €125,705 | €150,172 | €115,839 | €105,395 | ▼ 9.0% |
| Equity10/15 | €46,721 | €64,912 | €84,174 | €61,632 | €64,589 | ▲ 4.8% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €40,521 | €58,712 | €77,974 | €58,130 | €58,130 | = |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | €0 | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | €0 | - | - |
| Distributable reserves133 | €38,661 | €56,852 | €76,114 | €58,130 | €58,130 | = |
| Profit (loss) carried forward14 | - | €0 | €0 | -€2,698 | €259 | ▲ 110% |
| Amounts payable17/49 | €81,185 | €60,793 | €65,998 | €54,207 | €40,806 | ▼ 24.7% |
| Amounts payable after more than one year17 | €0 | - | - | - | - | - |
| Financial debts170/4 | €0 | - | - | - | - | - |
| Amounts payable within one year42/48 | €81,185 | €60,793 | €65,998 | €54,207 | €40,806 | ▼ 24.7% |
| Current portion of amounts payable after more than one year42 | €4,839 | €0 | - | - | - | - |
| Trade debts44 | €54,749 | €39,183 | €48,442 | €42,536 | €30,337 | ▼ 28.7% |
| Suppliers440/4 | €54,749 | €39,183 | €48,442 | €42,536 | €30,337 | ▼ 28.7% |
| Taxes, remuneration and social security45 | €21,597 | €19,610 | €17,556 | €11,670 | €10,469 | ▼ 10.3% |
| Taxes450/3 | €11,505 | €12,513 | €11,494 | €3,760 | €1,781 | ▼ 52.6% |
| Remuneration and social security454/9 | €10,092 | €7,097 | €6,062 | €7,910 | €8,687 | ▲ 9.8% |
| Other amounts payable47/48 | - | €2,000 | €0 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €9,918 | €20,191 | €19,262 | -€22,542 | €2,957 | ▲ 113% |
| + Depreciation and write-downs630 | €7,801 | €3,004 | €3,178 | €2,272 | €2,792 | ▲ 22.9% |
| Operating cash flow (approximation) | €17,718 | €23,195 | €22,440 | -€20,270 | €5,749 | ▲ 128% |
| Investment in fixed assets (approximation) | - | €0 | -€2,419 | -€1,758 | €0 | ▲ 100% |
| Change in cash | - | -€12,095 | €12,106 | -€163 | €1,739 | ▲ 1,164% |
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
Next filing, fiscal year 2026, expected by
2026
14-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 14 days late
2025
31-12
Financial
Back to profitnet €2,957
Net result €2,957 after one loss-making year.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Weakest financial yearnet -€22,542
Net result drops to -€22,542, the lowest in the series; recovery starts the following year.
09-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 9 days late
2023
11-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 11 days late
2022
31-12
Financial
Highest result since 2018net €20,191 ▲104%
Operating result €28,874, net result €20,191, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
12-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 43 days late
2019
23-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 54 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
No directors read yet: 0 of 2 Gazette acts processed. See the function holders in the CBE →
Location & real-estate footprint
Registered office, Brugge · 1 establishment unit since 2017
Ground area
298 m²
Building footprint
118 m²
Volume, LiDAR
550 m³
Parcel 31812P0025/00V018, Flanders · tallest building 8.3 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
AF-T
since 20172.263.431.157
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31812P0025/00V018 | Flanders | 298 m² | 1 · 118 m² | 8.3 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.
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Of 3,959 companies in this sector we hold annual accounts for 1,788. 1,555 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company details
Identification
Legal formPrivate limited company
Founded30-12-2016
Fiscal year end31-12
Activities, NACEBEL 2025
43331Floor and wall tiling
43332Laying of wooden floor and wall coverings
43333Wallpapering and laying of floor and wall coverings in other materials
E-invoicing
Reachable via Peppol
Peppol ID
0208:0668582693
Also
9925:BE0668582693
Registered
18-11-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.