AFC CONSTRUCT
InactiveAFC CONSTRUCT was declared bankrupt on 21-11-2022 (Tribunal de l’entreprise de Liège, division Liège); the bankruptcy was closed by liquidation by judgment of 04-02-2025, published in the Belgian State Gazette on 11-02-2025.
Summary
Inactive; last annual accounts for fiscal year 2021.
Signals
Three signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Two or more financial years not filed
Since the financial year that closed on 31-12-2022, 4 financial years are missing at the National Bank. A company this far behind goes bankrupt within the year nineteen times as often as a punctual filer.
NBB · 6 filingsPosition against the passed deadline
31-12-2022 close31-07-2023 deadline26-09-2026 today
neutral · Filed after the deadline
The financial year that closed on 31-12-2021 was due by 31-07-2022 and was filed on 08-08-2022, 8 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 · 6 filingsDeviation from the deadline
2025
not confirmed
2024
not filed
2023
not filed
2022
not filed
2021
8 d late
2020
59 d late
2019
5 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 3 accounts on average 24 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (1)
History
Financials · fiscal year 2021, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€30,950▲ 5,164%
2020 · €588
Working capital
-€22,564▲ 55.5%
2020 · -€50,673
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line2018201920202021
Operating result€10,311--€40,928€2,388€33,984▲ 1,323%
Net result€3,247--€45,385€588€30,950▲ 5,164%
Equity€9,058--€36,327-€35,739▲ 1.6%-€4,790▲ 86.6%
Total assets€124,063-€89,585▼ 27.8%€77,180▼ 13.8%€65,497▼ 15.1%
Debt€105,005-€125,913▲ 19.9%€112,920▼ 10.3%€70,286▼ 37.8%
Working capital-€16,150--€51,871▼ 221%-€50,673▲ 2.3%-€22,564▲ 55.5%
Staff (FTE)2-2.3▲ 15.0%1.5▼ 34.8%1▼ 33.3%
Result per fiscal year
Operating resultNet result
After the dip in 2019 the operating result has climbed two years in a row; 2021 is 1,323% above 2020 and is the highest result in the available series.
Balance-sheet composition
2021 in colour, 2020 as the grey bar beneath
Assets €65,497
Fixed assets
€17,787 ▼ 21.8%
Current assets
€47,710 ▼ 12.4%
Key figures and ratios
EBITDA
€40,000▲
2020 · €9,135
Cash flow
€36,966▲
2020 · €7,335
Solvency
-7.3%▲
2020 · -46.3%
Current ratio
0.68▲
2020 · 0.52
Quick ratio
0.38▼
2020 · 0.47
Debt to equity
-14.67▼
2020 · -0.22
ROA
47.3%▲
2020 · 0.8%
Interest coverage
13.18
Debt ≤ 1 year
€70,273▼
2020 · €105,113
Staff costs
€39,906
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €37,135 | - |
| Remuneration, social security and pensions62 | - | - | - | €39,906 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,777 | €6,762 | €6,747 | €6,017 | ▼ 10.8% |
| Other operating charges640/8 | - | - | - | €815 | - |
| Non-recurring operating charges66A | - | - | - | €1,505 | - |
| Gross operating margin9900 | €80,887 | €50,733 | €62,273 | €82,226 | ▲ 32.0% |
| Operating profit (loss)9901 | €10,311 | -€40,928 | €2,388 | €33,984 | ▲ 1,323% |
| Financial income75/76B | - | - | - | €1 | - |
| Recurring financial income75 | €50 | €5 | €0 | €1 | ▲ 2,000% |
| Financial charges65/66B | - | - | - | €3,035 | - |
| Recurring financial charges65 | €5,482 | €4,462 | €1,800 | €3,035 | ▲ 68.6% |
| Profit (loss) for the period before taxes9903 | €4,880 | -€45,385 | €588 | €30,950 | ▲ 5,164% |
| Income taxes67/77 | €1,633 | - | - | - | - |
| Profit (loss) for the period9904 | €3,247 | -€45,385 | €588 | €30,950 | ▲ 5,164% |
| Transfer to tax-exempt reserves689 | - | - | - | €36,226 | - |
| Profit (loss) for the period to be appropriated9905 | €3,247 | -€45,385 | €588 | -€5,276 | ▼ 997% |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €124,063 | €89,585 | €77,180 | €65,497 | ▼ 15.1% |
| Fixed assets21/28 | €35,208 | €29,488 | €22,741 | €17,787 | ▼ 21.8% |
| Intangible fixed assets21 | €31,250 | €26,250 | €21,250 | €16,250 | ▼ 23.5% |
| Tangible fixed assets22/27 | €3,958 | €3,238 | €1,491 | €1,537 | ▲ 3.1% |
| Plant, machinery and equipment23 | - | - | - | €1,537 | - |
| Current assets29/58 | €88,855 | €60,098 | €54,440 | €47,710 | ▼ 12.4% |
| Stocks and contracts in progress3 | - | - | €4,525 | €20,900 | ▲ 362% |
| Stocks30/36 | - | - | - | €3,400 | - |
| Contracts in progress37 | - | - | - | €17,500 | - |
| Amounts receivable within one year40/41 | €88,738 | €41,442 | €25,501 | €13,231 | ▼ 48.1% |
| Trade receivables40 | - | - | - | €9,367 | - |
| Other amounts receivable41 | - | - | - | €3,864 | - |
| Cash at bank and in hand54/58 | €117 | €18,656 | €24,414 | €13,579 | ▼ 44.4% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €124,063 | €89,585 | €77,180 | €65,497 | ▼ 15.1% |
| Equity10/15 | €9,058 | -€36,327 | -€35,739 | -€4,790 | ▲ 86.6% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Capital10 | - | - | - | €6,200 | - |
| Issued capital100 | - | - | - | €18,600 | - |
| Uncalled capital101 | - | - | - | €12,400 | - |
| Reserves13 | €143 | €143 | €143 | €36,368 | ▲ 25,350% |
| Non-distributable reserves130/1 | - | - | - | €143 | - |
| Legal reserve130 | - | - | - | €143 | - |
| Tax-exempt reserves132 | - | - | - | €36,226 | - |
| Profit (loss) carried forward14 | €2,715 | -€42,670 | -€42,082 | -€47,358 | ▼ 12.5% |
| Provisions and deferred taxes16 | €10,000 | - | - | - | - |
| Amounts payable17/49 | €105,005 | €125,913 | €112,920 | €70,286 | ▼ 37.8% |
| Amounts payable after more than one year17 | - | €13,944 | €7,807 | - | - |
| Amounts payable within one year42/48 | €105,005 | €111,969 | €105,113 | €70,273 | ▼ 33.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €9,387 | - |
| Trade debts44 | €73,746 | €91,557 | €89,209 | €55,282 | ▼ 38.0% |
| Suppliers440/4 | - | - | - | €55,282 | - |
| Taxes, remuneration and social security45 | - | - | - | €216 | - |
| Taxes450/3 | - | - | - | €9 | - |
| Remuneration and social security454/9 | - | - | - | €206 | - |
| Other amounts payable47/48 | - | - | - | €5,389 | - |
| Accrued charges and deferred income492/3 | - | - | - | €13 | - |
| Line | 2018 | 2019 | 2020 | 2021 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,247 | -€45,385 | €588 | €30,950 | ▲ 5,164% |
| + Depreciation and write-downs630 | €6,777 | €6,762 | €6,747 | €6,017 | ▼ 10.8% |
| Operating cash flow (approximation) | €10,024 | -€38,623 | €7,335 | €36,966 | ▲ 404% |
| Investment in fixed assets (approximation) | - | -€1,042 | €0 | -€1,063 | - |
| Change in cash | - | €18,539 | €5,758 | -€10,835 | ▼ 288% |
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
2025
11-02
Bankruptcy
Bankruptcy closure (by liquidation)
Tribunal de l’entreprise de Liège, division Liège · event 04-02-2025
2022
25-11
Bankruptcy
Opening
Tribunal de l’entreprise de Liège, division Liège · event 21-11-2022
08-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 8 days late
2021
31-12
Financial
Highest result since 2018net €30,950 ▲5,164%
Operating result €33,984, net result €30,950, both a record.
28-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 59 days late
08-03
Judicial reorganisation
Plan homologation
Tribunal de l’entreprise de Liège · event 02-03-2021
2020
31-12
Financial
Back to profitnet €588
Net result €588 after one loss-making year.
07-09
Judicial reorganisation
Extension
Tribunal de l’entreprise de Liège · collective agreement · event 01-09-2020
05-08
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 5 days late
10-03
Judicial reorganisation
Opening
Tribunal de l’entreprise de Liège · collective agreement · event 03-03-2020
2019
31-12
Financial
Weakest financial yearnet -€45,385
Net result drops to -€45,385, the lowest in the series.
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 27 days late
2018
29-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 29 days late
2017
25-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 25 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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
Insolvency mandates
2 mandates| Role | Name | Tenure |
|---|---|---|
| Curator | JOELLE DECHARNEUX RUE LOUVREX 55-57,
4000 LIEGE 1 |
21-11-2022 → 04-02-2025 |
| Curator | SANDRINE EVRARD RUE
PAUL DEVAUX 2, 4000 LIEGE 1 |
21-11-2022 → 04-02-2025 |