AFI
ActiveSummary
AFI has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €610,555 and a net result of -€29,560. Equity is growing by ~6.3% per year across the filed fiscal years. Its solvency ranks better than 15% of 732 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability40▲+7
Solvency30=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30,000 at 30 days acceptable
Liquidity short (current ratio 0.57 against 0.64 in 2024; short-term debt: 8.1% and cash: 1.1% of total assets), and 95.5% of the assets are financed with debt.
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Signals
Six 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 52
Relative position
BE, all sectors
reference
Warehousing and support activities for transportation (NACE 52)
about 72% more 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
4.5%
Return on assets
-0.2%
Age of the figures
12 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
1819202122232425
2018 to 2025 · latest year -€29,560
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 732 sector peers (2025).
NBB · sector comparisonPosition among 732 sector peers
Solvency
better than 15%
← weakest
strongest →
neutral · A punctual record breaks
This company filed 9 consecutive financial years on time. The year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 06-05-2026, 6 days late. Weigh it accordingly: a break into the 1-to-90-day band measures 1.41% abnormal legal state, below the 1.66% market average. It is a change in behaviour, not evidence of elevated risk.
NBB · 10 filingsDeviation from the deadline
2025
6 d late
2024
14 d early
2023
1 d early
2022
3 d early
2021
1 d early
2020
on the day
2019
on the day
← 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 2 days before the deadline; the sector median for financial year 2024 is 8 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 29 April (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today30-09-2026 close30-04-2027 deadline
History
Go further with this company
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#2 company by total assets in Grimbergen, Transport and storage sector#7 company by equity in Grimbergen, Transport and storage sector
Equity
€610,555▼ 4.6%
2024 · €640,115
Total assets
€13.4m▼ 4.5%
2024 · €14.1m
Net result
-€29,560▲ 65.7%
2024 · -€86,289
Working capital
-€472,508▼ 19.3%
2024 · -€395,946
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 52, Warehousing and support activities for transportation, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€22,538-€92,384▼ 310%-€586,585▼ 535%€314,329€343,513▲ 9.3%
Net result-€45,259below the sector's middle half▼ 103%-€178,539below the sector's middle half▼ 294%-€675,267below the sector's middle half▼ 278%-€86,289below the sector's middle half▲ 87.2%-€29,560below the sector's middle half▲ 65.7%
Equity€363,810within the sector's middle half▼ 11.1%€185,270within the sector's middle half▼ 49.1%€726,403within the sector's middle half▲ 292%€640,115within the sector's middle half▼ 11.9%€610,555within the sector's middle half▼ 4.6%
Total assets€1.9mwithin the sector's middle half▲ 43.8%€5.7mabove the sector's middle half▲ 198%€9.7mabove the sector's middle half▲ 70.0%€14.1mabove the sector's middle half▲ 45.9%€13.4mabove the sector's middle half▼ 4.5%
Debt€1.3m▲ 89.1%€5.5m▲ 310%€8.9m▲ 63.0%€13.4m▲ 50.8%€12.8m▼ 4.5%
Working capital-€553,467below the sector's middle half-€2.6mbelow the sector's middle half▼ 373%-€1.1mbelow the sector's middle half▲ 57.6%-€395,946below the sector's middle half▲ 64.3%-€472,508below the sector's middle half▼ 19.3%
Solvency19.1%within the sector's middle half▼ 11.8pp3.3%below the sector's middle half▼ 15.8pp7.5%below the sector's middle half▲ 4.3pp4.5%below the sector's middle half▼ 3.0pp4.5%below the sector's middle half=
Current ratio0.34below the sector's middle half▼ 1.770.16below the sector's middle half▼ 0.180.17below the sector's middle half▲ 0.010.64below the sector's middle half▲ 0.470.57below the sector's middle half▼ 0.08
Return on assets (ROA)-2.4%below the sector's middle half▼ 0.7pp-3.1%below the sector's middle half▼ 0.8pp-7.0%below the sector's middle half▼ 3.9pp-0.6%below the sector's middle half▲ 6.4pp-0.2%below the sector's middle half▲ 0.4pp
Staff (FTE)0below the sector's middle half0below the sector's middle half
above
within
below
the middle half (P25 to P75) of NACE 52, Warehousing and support activities for transportation, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 9% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €13.4m
Fixed assets
€12.8m ▼ 4.1%
Current assets
€615,669 ▼ 13.1%
Equity and liabilities €13.4m
Equity
€610,555 ▼ 4.6%
Provisions
€40,286 =
Debt
€12.8m ▼ 4.5%
Debt's share of the balance-sheet total stays at 95.2%.
Key figures and ratios
EBITDA
€957,687▲
2024 · €730,977
Cash flow
€584,614▲
2024 · €330,359
Debt to equity
20.95▲
2024 · 20.93
ROE
-4.8%▲
2024 · -13.5%
Interest coverage
2.53▲
2024 · 1.82
Debt ≤ 1 year
€1.1m▼
2024 · €1.1m
Debt > 1 year
€11.6m▼
2024 · €12.1m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 108 companies that looked in July 2024 the way this one looks now, 0.9% went bankrupt within 24 months and 94% are still going.
- Medium-sized
- 10 to 20 years old
- solvency under 10%
- a small loss
0.9%
went bankrupt
5.6%
stopped otherwise
94%
still going
For this company itself Checked computes a bankruptcy probability of 0.7% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 108 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €158,166 | €298,267 | €229,943 | €416,648 | €614,174 | ▲ 47.4% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | -€173,548 | €0 | - | - | - |
| Other operating charges640/8 | €11,004 | €23,833 | €12,683 | €1,020 | €1,148 | ▲ 12.6% |
| Non-recurring operating charges66A | - | - | €411,701 | €0 | - | - |
| Gross operating margin9900 | €146,632 | €56,168 | €67,742 | €731,997 | €958,835 | ▲ 31.0% |
| Operating profit (loss)9901 | -€22,538 | -€92,384 | -€586,585 | €314,329 | €343,513 | ▲ 9.3% |
| Financial income75/76B | - | €3,538 | €585 | €122 | €5,645 | ▲ 4,510% |
| Recurring financial income75 | - | €3,538 | €585 | €122 | €5,645 | ▲ 4,510% |
| Financial charges65/66B | €22,720 | €32,162 | €89,266 | €400,740 | €378,718 | ▼ 5.5% |
| Recurring financial charges65 | €22,720 | €32,162 | €89,266 | €400,740 | €378,718 | ▼ 5.5% |
| Profit (loss) for the period before taxes9903 | -€45,259 | -€121,007 | -€675,267 | -€86,289 | -€29,560 | ▲ 65.7% |
| Income taxes67/77 | - | €57,532 | €0 | - | - | - |
| Profit (loss) for the period9904 | -€45,259 | -€178,539 | -€675,267 | -€86,289 | -€29,560 | ▲ 65.7% |
| Profit (loss) for the period to be appropriated9905 | -€45,259 | -€178,539 | -€675,267 | -€86,289 | -€29,560 | ▲ 65.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.9m | €5.7m | €9.7m | €14.1m | €13.4m | ▼ 4.5% |
| Fixed assets21/28 | €1.6m | €5.2m | €9.4m | €13.4m | €12.8m | ▼ 4.1% |
| Tangible fixed assets22/27 | €1.6m | €5.2m | €9.4m | €13.4m | €12.8m | ▼ 4.1% |
| Land and buildings22 | €1.6m | €4.0m | €8.5m | €12.6m | €12.2m | ▼ 3.6% |
| Plant, machinery and equipment23 | - | - | €603,071 | €751,945 | €657,267 | ▼ 12.6% |
| Assets under construction and advance payments27 | - | €1.2m | €275,725 | €0 | - | - |
| Current assets29/58 | €284,637 | €509,024 | €228,598 | €708,400 | €615,669 | ▼ 13.1% |
| Amounts receivable within one year40/41 | €250,916 | €134,091 | €115,962 | €141,388 | €380,618 | ▲ 169% |
| Trade receivables40 | €123,518 | €4,326 | €85,574 | €122,315 | €121,785 | ▼ 0.4% |
| Other amounts receivable41 | €127,398 | €129,765 | €30,388 | €19,073 | €258,833 | ▲ 1,257% |
| Cash at bank and in hand54/58 | €32,333 | €365,426 | €97,069 | €544,313 | €149,046 | ▼ 72.6% |
| Deferred charges and accrued income490/1 | €1,388 | €9,507 | €15,568 | €22,699 | €86,004 | ▲ 279% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.9m | €5.7m | €9.7m | €14.1m | €13.4m | ▼ 4.5% |
| Equity10/15 | €363,810 | €185,270 | €726,403 | €640,115 | €610,555 | ▼ 4.6% |
| Contributions10/11 | €675,000 | €675,000 | €675,000 | €675,000 | €675,000 | = |
| Outside capital11 | €675,000 | - | - | - | - | - |
| Other1109/19 | €675,000 | - | - | - | - | - |
| Revaluation surpluses12 | €441,176 | €397,059 | €1.6m | €1.5m | €1.5m | ▼ 2.9% |
| Reserves13 | €310,648 | €354,765 | €398,883 | €0 | - | - |
| Distributable reserves133 | €310,648 | €354,765 | €398,883 | €0 | - | - |
| Profit (loss) carried forward14 | -€1.1m | -€1.2m | -€1.9m | -€1.6m | -€1.5m | ▲ 0.9% |
| Provisions and deferred taxes16 | €213,834 | €40,286 | €40,286 | €40,286 | €40,286 | = |
| Provisions for liabilities and charges160/5 | €213,834 | €40,286 | €40,286 | €40,286 | €40,286 | = |
| Major repairs and maintenance162 | €213,834 | €40,286 | €40,286 | €40,286 | €40,286 | = |
| Amounts payable17/49 | €1.3m | €5.5m | €8.9m | €13.4m | €12.8m | ▼ 4.5% |
| Amounts payable after more than one year17 | €490,686 | €2.3m | €7.5m | €12.1m | €11.6m | ▼ 4.4% |
| Financial debts170/4 | €490,686 | €2.3m | €4.8m | €12.1m | €11.6m | ▼ 4.4% |
| Other amounts payable178/9 | - | - | €2.7m | €14,842 | €15,592 | ▲ 5.1% |
| Amounts payable within one year42/48 | €838,105 | €3.1m | €1.3m | €1.1m | €1.1m | ▼ 1.5% |
| Current portion of amounts payable after more than one year42 | €85,833 | €87,390 | €385,564 | €673,986 | €773,496 | ▲ 14.8% |
| Financial debts43 | €715,000 | €2.7m | €0 | - | - | - |
| Credit institutions430/8 | €715,000 | €2.7m | €0 | - | - | - |
| Trade debts44 | €5,266 | €80,507 | €315,735 | €95,077 | €121,992 | ▲ 28.3% |
| Suppliers440/4 | €5,266 | €80,507 | €315,735 | €95,077 | €121,992 | ▲ 28.3% |
| Taxes, remuneration and social security45 | - | €57,532 | €11,700 | €62,677 | €17,321 | ▼ 72.4% |
| Taxes450/3 | - | €57,532 | €11,700 | €62,677 | €17,321 | ▼ 72.4% |
| Other amounts payable47/48 | €32,006 | €250,192 | €624,239 | €272,605 | €175,367 | ▼ 35.7% |
| Accrued charges and deferred income492/3 | €868 | €7,902 | €77,377 | €152,528 | €93,122 | ▼ 38.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€45,259 | -€178,539 | -€675,267 | -€86,289 | -€29,560 | ▲ 65.7% |
| + Depreciation and write-downs630 | €158,166 | €298,267 | €229,943 | €416,648 | €614,174 | ▲ 47.4% |
| Operating cash flow (approximation) | €112,908 | €119,727 | -€445,324 | €330,359 | €584,614 | ▲ 77.0% |
| Investment in fixed assets (approximation) | - | -€3.8m | -€4.5m | -€4.4m | -€68,983 | ▲ 98.4% |
| Change in cash | - | €333,093 | -€268,356 | €447,244 | -€395,267 | ▼ 188% |
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
06-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 6 days late
2025
16-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
29-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-09
Financial
Weakest financial yearnet -€675,267
Net result drops to -€675,267, the lowest in the series; recovery starts the following year.
30-09
Financial
Equity above €500,000Eq €726,403 ▲292%
Equity rises from €185,270 to €726,403.
27-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
29-04
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-04
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
03-04
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
29-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Grimbergen · 1 establishment unit since 2007
Ground area
1.4 ha
Building footprint
1,328 m²
Volume, LiDAR
14,135 m³
Parcel 23084B0071/00S024, Flanders · tallest building 15.0 m, ±4 floors. Linked by address, not a title deed.
29
companies at this address
See who is registered here
1 establishment unit
AFI
since 20072.159.923.051
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23084B0071/00S024 | Flanders | 1.4 ha | 1 · 1,328 m² | 15.0 m · 4 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.
Structure & network
Part of the group
STEENBERG
15 companies
Group, risk and exposure
Owners and holdings
1 ownerChain of control
- STEENBERG
- AFI
Highest known parent: STEENBERG. The sources do not say who stands above it.
Owners 1
- STEENBERGparentSourceaccounts STEENBERG 2025100%
Holdings 0
No holding stated in the accounts, acts or LEI register we read.
According to the annual accounts of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
No current directors or connected companies found in the register.
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Of 1,031 companies in sector 52100 we hold annual accounts for 769. 536 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
Founded11-01-2007
Fiscal year end30-09
Activities, NACEBEL 2025
52100Warehousing and storage
64210Activities of holding companies
70200Business and other management consultancy
73300Public relations and communication consultancy
Contact
Phone
0475/66 79 77Grimbergen
E-invoicing
Reachable via Peppol
Peppol ID
0208:0886317605
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.