AFD EUPEN
ActiveSummary
AFD EUPEN has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €9.05M and a net result of €-5.38M. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 71% of 425 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0=
Solvency82▲+82
Growth45▲+9
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500k at 30 days acceptable
Liquidity ample (current ratio 2.2 against 0.59 in 2024; short-term debt: 42.8% and cash: 16.6% of total assets), and 43.1% of the assets are financed with debt.
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Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 93
Relative position
BE, all sectors
reference
Sports, amusement and recreation activities (NACE 93)
about 50% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
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
56.9%
Return on assets
-33.8%
Age of the figures
15 mo
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 24-02-2026, 24 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
24 d late
2024
on the day
2023
49 d early
2022
50 d late
2021
52 d late
2020
33 d late
2019
2 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close26-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, full schema
In the rankings
#2 employer in the province of Liège, Sports and recreation sector#3 company by equity in the province of Liège, Sports and recreation sector#8 company by total assets in the province of Liège, Sports and recreation sector
Turnover
€13.22M▼ 18.3%
2024 · €16.18M
EBIT margin
-39.7%▲ 3.1pp
2024 · -42.8%
Net result
€-5.38M▲ 24.5%
2024 · €-7.12M
Working capital
€8.14M
2024 · €-5.14M
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
Line20212022202320242025
Turnover€11.86M▼ 35.1%€14.90M▲ 25.7%€15.71M▲ 5.4%€16.18M▲ 3.0%€13.22M▼ 18.3%
Operating result€-13.40M▼ 205%€-5.05M▲ 62.3%€-8.19M▼ 62.2%€-6.92M▲ 15.4%€-5.25M▲ 24.2%
Net result€-13.43M▼ 202%€-5.05M▲ 62.4%€-8.45M▼ 67.2%€-7.12M▲ 15.7%€-5.38M▲ 24.5%
EBIT margin-113.0%▼ 89.0pp-33.9%▲ 79.2pp-52.1%▼ 18.2pp-42.8%▲ 9.3pp-39.7%▲ 3.1pp
Equity€426k▼ 94.4%€2.48M▲ 481%€4.04M▲ 63.3%€-3.07M€9.05M
Total assets€14.15M▲ 1.6%€15.64M▲ 10.5%€12.02M▼ 23.1%€9.62M▼ 20.0%€15.91M▲ 65.5%
Debt€13.72M▲ 119%€13.16M▼ 4.1%€7.98M▼ 39.4%€12.69M▲ 59.0%€6.86M▼ 45.9%
Working capital€-4.02M€963k€2.17M▲ 126%€-5.14M€8.14M
Staff (FTE)91.1▲ 9.6%82.4▼ 9.5%84.2▲ 2.2%89.8▲ 6.7%95.5▲ 6.3%
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €5.25M in 2025 against €6.92M in 2024; the loss shrinks.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €15.91M
Fixed assets
€956k ▼ 56.1%
Current assets
€14.95M ▲ 101%
Equity and liabilities €15.91M
Equity
€9.05M
Debt
€6.86M
Debt finances 43.1% of the balance-sheet total.
Key figures and ratios
EBITDA
€-4.79M▲
2024 · €-5.91M
Cash flow
€-4.92M▲
2024 · €-6.10M
Current ratio
2.20▲
2024 · 0.59
Quick ratio
2.19▲
2024 · 0.59
Debt to equity
0.76▲
2024 · -4.13
ROE
-59.4%
ROA
-33.8%▲
2024 · -74.0%
Interest coverage
-2223.89▲
2024 · -2306.89
Debt ≤ 1 year
€6.81M▼
2024 · €12.58M
Debt > 1 year
€41k▼
2024 · €58k
Income taxes
€113k▼
2024 · €169k
Staff costs
€12.42M▼
2024 · €20.18M
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | - | €20.75M | €22.53M | €22.72M | €14.81M | ▼ 34.8% |
| Turnover70 | €11.86M | €14.90M | €15.71M | €16.18M | €13.22M | ▼ 18.3% |
| Other operating income74 | - | €5.85M | €6.82M | €6.54M | €1.59M | ▼ 75.7% |
| Operating charges60/66A | - | €25.80M | €30.71M | €29.65M | €20.06M | ▼ 32.3% |
| Goods for resale, raw materials and consumables60 | - | €100k | €92k | €144k | €196k | ▲ 35.7% |
| Purchases600/8 | - | €67k | €99k | €148k | €187k | ▲ 26.9% |
| Change in stocks: decrease (increase)609 | - | €33k | €-7k | €-4k | €8k | ▲ 330% |
| Services and other goods61 | - | €6.02M | €6.32M | €7.01M | €5.37M | ▼ 23.4% |
| Remuneration, social security and pensions62 | - | €16.15M | €16.10M | €20.18M | €12.42M | ▼ 38.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3.80M | €3.10M | €1.57M | €1.01M | €455k | ▼ 55.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | €27k | €5.88M | €202k | €-285k | ▼ 241% |
| Other operating charges640/8 | - | €398k | €674k | €850k | €1.90M | ▲ 123% |
| Non-recurring operating charges66A | - | €176 | €77k | €243k | €4k | ▼ 98.2% |
| Operating profit (loss)9901 | €-13.40M | €-5.05M | €-8.19M | €-6.92M | €-5.25M | ▲ 24.2% |
| Financial income75/76B | - | €27k | €103 | €55 | €3k | ▲ 4,556% |
| Recurring financial income75 | €237 | €27k | €103 | €55 | €3k | ▲ 4,556% |
| Other financial income752/9 | - | €27k | €103 | €55 | €3k | ▲ 4,556% |
| Financial charges65/66B | - | €19k | €15k | €23k | €16k | ▼ 33.7% |
| Recurring financial charges65 | €16k | €19k | €15k | €23k | €16k | ▼ 33.7% |
| Debt charges650 | €7k | €3k | €1k | €3k | €2k | ▼ 15.9% |
| Other financial charges652/9 | - | €16k | €14k | €21k | €13k | ▼ 35.9% |
| Profit (loss) for the period before taxes9903 | €-13.42M | €-5.04M | €-8.20M | €-6.95M | €-5.26M | ▲ 24.3% |
| Income taxes67/77 | €15k | €11k | €244k | €169k | €113k | ▼ 33.2% |
| Taxes670/3 | - | €12k | €244k | €169k | €113k | ▼ 33.2% |
| Tax adjustments and reversals of tax provisions77 | - | €952 | - | - | - | - |
| Profit (loss) for the period9904 | €-13.43M | €-5.05M | €-8.45M | €-7.12M | €-5.38M | ▲ 24.5% |
| Profit (loss) for the period to be appropriated9905 | €-13.43M | €-5.05M | €-8.45M | €-7.12M | €-5.38M | ▲ 24.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €14.15M | €15.64M | €12.02M | €9.62M | €15.91M | ▲ 65.5% |
| Fixed assets21/28 | €6.03M | €2.52M | €2.59M | €2.18M | €956k | ▼ 56.1% |
| Intangible fixed assets21 | €4.12M | €1.22M | €1.56M | €1.22M | €131k | ▼ 89.2% |
| Tangible fixed assets22/27 | €1.69M | €1.14M | €820k | €779k | €675k | ▼ 13.3% |
| Land and buildings22 | - | €4k | - | - | - | - |
| Plant, machinery and equipment23 | - | €13k | €54k | €81k | €70k | ▼ 13.9% |
| Furniture and vehicles24 | - | €167k | €132k | €143k | €103k | ▼ 28.0% |
| Other tangible fixed assets26 | - | €955k | €634k | €554k | €502k | ▼ 9.5% |
| Financial fixed assets28 | €211k | €158k | €211k | €178k | €150k | ▼ 16.0% |
| Other financial fixed assets284/8 | - | €158k | €211k | €178k | €150k | ▼ 16.0% |
| Amounts receivable and cash guarantees285/8 | - | €158k | €211k | €178k | €150k | ▼ 16.0% |
| Current assets29/58 | €8.12M | €13.12M | €9.44M | €7.44M | €14.95M | ▲ 101% |
| Stocks and contracts in progress3 | €38k | €5k | €12k | €16k | €8k | ▼ 51.6% |
| Stocks30/36 | - | €5k | €12k | €16k | €8k | ▼ 51.6% |
| Raw materials and consumables30/31 | - | €5k | €12k | €16k | €8k | ▼ 51.6% |
| Amounts receivable within one year40/41 | €7.88M | €11.90M | €7.87M | €7.18M | €12.21M | ▲ 70.0% |
| Trade receivables40 | - | €11.80M | €7.70M | €7.06M | €12.08M | ▲ 71.2% |
| Other amounts receivable41 | - | €92k | €170k | €123k | €121k | ▼ 1.8% |
| Cash at bank and in hand54/58 | €127k | €1.19M | €1.39M | €144k | €2.65M | ▲ 1,740% |
| Deferred charges and accrued income490/1 | - | €31k | €164k | €100k | €93k | ▼ 6.7% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €14.15M | €15.64M | €12.02M | €9.62M | €15.91M | ▲ 65.5% |
| Equity10/15 | €426k | €2.48M | €4.04M | €-3.07M | €9.05M | ▲ 394% |
| Contributions10/11 | €55.69M | €62.79M | €72.80M | €72.80M | €90.30M | ▲ 24.0% |
| Capital10 | - | €62.79M | €72.80M | €72.80M | €90.30M | ▲ 24.0% |
| Issued capital100 | - | €62.79M | €72.80M | €72.80M | €90.30M | ▲ 24.0% |
| Profit (loss) carried forward14 | €-55.27M | €-60.32M | €-68.76M | €-75.88M | €-81.25M | ▼ 7.1% |
| Amounts payable17/49 | €13.72M | €13.16M | €7.98M | €12.69M | €6.86M | ▼ 45.9% |
| Amounts payable after more than one year17 | €651k | €363k | €349k | €58k | €41k | ▼ 29.0% |
| Financial debts170/4 | - | €88k | €74k | €58k | €41k | ▼ 29.0% |
| Other loans174 | - | €88k | €74k | €58k | €41k | ▼ 29.0% |
| Trade debts175 | - | €275k | €275k | - | - | - |
| Suppliers1750 | - | €275k | €275k | - | - | - |
| Amounts payable within one year42/48 | €12.14M | €12.16M | €7.26M | €12.58M | €6.81M | ▼ 45.8% |
| Current portion of amounts payable after more than one year42 | - | €25k | €14k | €15k | €17k | ▲ 9.5% |
| Financial debts43 | - | €6.02M | - | - | - | - |
| Other loans439 | - | €6.02M | - | - | - | - |
| Trade debts44 | €6.08M | €3.56M | €4.94M | €4.58M | €4.35M | ▼ 5.1% |
| Suppliers440/4 | - | €3.56M | €4.94M | €4.58M | €4.35M | ▼ 5.1% |
| Advances received on contracts in progress46 | - | - | €2k | - | €1k | - |
| Taxes, remuneration and social security45 | - | €2.39M | €1.93M | €3.36M | €2.16M | ▼ 35.8% |
| Taxes450/3 | - | €170k | €234k | €258k | €337k | ▲ 30.9% |
| Remuneration and social security454/9 | - | €2.22M | €1.70M | €3.11M | €1.82M | ▼ 41.3% |
| Other amounts payable47/48 | - | €159k | €379k | €4.62M | €287k | ▼ 93.8% |
| Accrued charges and deferred income492/3 | - | €641k | €369k | €54k | €10k | ▼ 81.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-13.43M | €-5.05M | €-8.45M | €-7.12M | €-5.38M | ▲ 24.5% |
| + Depreciation and write-downs630 | €3.80M | €3.10M | €1.57M | €1.01M | €455k | ▼ 55.0% |
| Operating cash flow (approximation) | €-9.63M | €-1.95M | €-6.87M | €-6.10M | €-4.92M | ▲ 19.4% |
| Investment in fixed assets (approximation) | - | €410k | €-1.64M | €-600k | €765k | ▲ 227% |
| Change in cash | - | €1.06M | €207k | €-1.25M | €2.50M | ▲ 300% |
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
24-02
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 24 days late
2025
30-06
Financial
Liquidity quadruplescurrent ratio 2.20
Current ratio from 0.59 to 2.20; short-term debt falls from €12.58M to €6.81M.
30-06
Financial
Equity above €5MEq €9.05M
Equity rises from €-3.07M to €9.05M.
31-01
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2023
13-12
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
22-03
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 50 days late
2022
30-06
Financial
Equity above €2MEq €2.48M ▲481%
Equity rises from €426k to €2.48M.
24-03
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 52 days late
2021
30-06
Financial
Weakest financial yearnet €-13.43M
Net result drops to €-13.43M, the lowest in the series; recovery starts the following year.
05-03
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 33 days late
2020
29-01
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
23-01
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
02-02
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 2 days late
2017
01-02
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 1 day late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 22 acts read
About the unread acts
We know of 22 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
22 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, Eupen · 2 establishment units since 2012
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.
Kehrweg 84700 Eupen2 establishment units
KAS Eupen Pandahouse
since 20122.214.177.626
KAS Eupen Sportzentrum
since 20242.371.004.850
Recognitions · licences · registrations
Food safety, FASFC
2 sitesEupen2.214.177.626
Eupen2.371.004.850
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Of 1,396 companies in sector 93121 we hold annual accounts for 151. 36 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPublic limited company
Founded21-09-2012
Fiscal year end30-06
Activities, NACEBEL 2025
93121Football clubs
93110Operation of sports facilities
93199Other sports activities
Scores and ratios are computed by Checked and are not a credit decision.