AFNAN
ActiveSummary
The computed 12-month bankruptcy probability of AFNAN is 1.5% (moderate). The 2025 annual accounts show equity of €154k and a net result of €13k. Equity is growing by ~29.2% per year across the filed fiscal years. Its solvency ranks better than 64% of 1554 sector peers (fiscal year 2025). The company has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability74▼-7
Solvency72▼-11
Growth85=
Track record100
Bankruptcy probability, 12 months
1.5%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €9k at 30 days acceptable
Liquidity tight (current ratio 1.01 against 0.83 in 2024; short-term debt: 47.6% and cash: 10% of total assets), and 53.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four 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 10
Relative position
BE, all sectors
reference
Manufacture of food products (NACE 10)
about 60% 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
46.9%
Return on assets
4.1%
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 18-08-2026, 18 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 · 8 filingsDeviation from the deadline
2025
18 d late
2024
151 d late
2023
189 d late
2022
30 d late
2021
12 d early
2020
53 d late
2019
136 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€1.01M▲ 11.3%
2023 · €911k
EBIT margin
6.0%▲ 2.1pp
2023 · 3.9%
Net result
€13k▼ 71.6%
2024 · €47k
Working capital
€1k
2024 · €-13k
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€754k€911k▲ 20.8%€1.01M▲ 11.3%
Operating result€16k▼ 38.6%€23k▲ 46.4%€35k▲ 50.8%€61k▲ 71.9%€34k▼ 44.7%
Net result€5k▼ 75.8%€13k▲ 162%€19k▲ 44.0%€47k▲ 151%€13k▼ 71.6%
EBIT margin3.1%3.9%▲ 0.8pp6.0%▲ 2.1pp
Equity€62k▲ 9.1%€75k▲ 20.9%€94k▲ 24.9%€141k▲ 50.0%€154k▲ 9.5%
Total assets€222k▲ 0.7%€238k▲ 7.3%€211k▼ 11.4%€244k▲ 15.5%€329k▲ 34.9%
Debt€160k▼ 2.3%€163k▲ 2.0%€117k▼ 28.2%€103k▼ 12.2%€175k▲ 69.8%
Working capital€-22k▼ 1.0%€-277▲ 98.8%€22k€-13k€1k
Staff (FTE)
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 45% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €329k
Fixed assets
€171k ▼ 5.6%
Current assets
€158k ▲ 153%
Equity and liabilities €329k
Equity
€154k ▲ 9.5%
Debt
€175k ▲ 69.8%
Debt's share of the balance-sheet total rises from 42.2% to 53.1%. Equity and debt are higher.
Key figures and ratios
EBITDA
€65k▼
2024 · €93k
Cash flow
€44k▼
2024 · €79k
Current ratio
1.01▲
2024 · 0.83
Quick ratio
0.88▲
2024 · 0.59
Debt to equity
1.13▲
2024 · 0.73
ROE
8.6%▼
2024 · 33.4%
ROA
4.1%▼
2024 · 19.3%
Interest coverage
10.20▼
2024 · 21.83
Debt ≤ 1 year
€157k▲
2024 · €75k
Debt > 1 year
€18k▼
2024 · €27k
Income taxes
€14k▲
2024 · €10k
Staff costs
€334k▲
2024 · €312k
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 |
|---|---|---|---|---|---|---|
| Turnover70 | - | €754k | €911k | €1.01M | - | - |
| Non-recurring operating income76A | - | €2k | €4k | €5k | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | €448k | €581k | €608k | - | - |
| Remuneration, social security and pensions62 | €213k | €260k | €267k | €312k | €334k | ▲ 7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €22k | €23k | €26k | €32k | €31k | ▼ 4.1% |
| Other operating charges640/8 | €3k | €3k | €6k | €7k | €4k | ▼ 47.6% |
| Gross operating margin9900 | €254k | €309k | €334k | €412k | €403k | ▼ 2.3% |
| Operating profit (loss)9901 | €16k | €23k | €35k | €61k | €34k | ▼ 44.7% |
| Financial income75/76B | €77 | - | €0 | - | €6 | - |
| Recurring financial income75 | €77 | - | €0 | - | €6 | - |
| Financial charges65/66B | €6k | €4k | €4k | €4k | €6k | ▲ 48.6% |
| Recurring financial charges65 | €6k | €4k | €4k | €4k | €6k | ▲ 48.6% |
| Profit (loss) for the period before taxes9903 | €10k | €19k | €31k | €57k | €27k | ▼ 51.7% |
| Income taxes67/77 | €5k | €6k | €12k | €10k | €14k | ▲ 46.5% |
| Profit (loss) for the period9904 | €5k | €13k | €19k | €47k | €13k | ▼ 71.6% |
| Profit (loss) for the period to be appropriated9905 | €5k | €13k | €19k | €47k | €13k | ▼ 71.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €222k | €238k | €211k | €244k | €329k | ▲ 34.9% |
| Fixed assets21/28 | €138k | €121k | €117k | €181k | €171k | ▼ 5.6% |
| Intangible fixed assets21 | €12k | €10k | €8k | €6k | €4k | ▼ 33.3% |
| Tangible fixed assets22/27 | €126k | €110k | €108k | €175k | €167k | ▼ 4.5% |
| Land and buildings22 | - | - | €20k | €82k | €73k | ▼ 11.4% |
| Plant, machinery and equipment23 | €15k | €10k | €5k | - | €4k | - |
| Furniture and vehicles24 | €14k | €18k | €16k | €14k | €25k | ▲ 81.0% |
| Other tangible fixed assets26 | €96k | €82k | €68k | €78k | €64k | ▼ 18.2% |
| Financial fixed assets28 | €803 | €803 | €803 | €803 | €453 | ▼ 43.6% |
| Current assets29/58 | €84k | €118k | €94k | €62k | €158k | ▲ 153% |
| Stocks and contracts in progress3 | €11k | €28k | €28k | €18k | €20k | ▲ 14.4% |
| Stocks30/36 | €11k | €28k | €28k | €18k | €20k | ▲ 14.4% |
| Amounts receivable within one year40/41 | €37k | €40k | €40k | €8k | €104k | ▲ 1,185% |
| Trade receivables40 | - | - | - | - | €90k | - |
| Other amounts receivable41 | €37k | €40k | €40k | €8k | €15k | ▲ 79.2% |
| Cash at bank and in hand54/58 | €37k | €49k | €25k | €36k | €33k | ▼ 9.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €222k | €238k | €211k | €244k | €329k | ▲ 34.9% |
| Equity10/15 | €62k | €75k | €94k | €141k | €154k | ▲ 9.5% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Outside capital11 | €19k | - | - | - | - | - |
| Other1109/19 | €19k | - | - | - | - | - |
| Profit (loss) carried forward14 | €44k | €57k | €75k | €122k | €136k | ▲ 10.9% |
| Amounts payable17/49 | €160k | €163k | €117k | €103k | €175k | ▲ 69.8% |
| Amounts payable after more than one year17 | €54k | €45k | €45k | €27k | €18k | ▼ 34.2% |
| Financial debts170/4 | €54k | €45k | €45k | €27k | €18k | ▼ 34.2% |
| Amounts payable within one year42/48 | €106k | €118k | €72k | €75k | €157k | ▲ 108% |
| Current portion of amounts payable after more than one year42 | €18k | €8k | - | €9k | €9k | ▲ 3.4% |
| Trade debts44 | €61k | €54k | - | €9k | €55k | ▲ 509% |
| Suppliers440/4 | €61k | €54k | - | €9k | €55k | ▲ 509% |
| Taxes, remuneration and social security45 | €27k | €55k | €72k | €57k | €67k | ▲ 16.2% |
| Taxes450/3 | €1k | €2k | €12k | €6k | €6k | ▲ 1.3% |
| Remuneration and social security454/9 | €26k | €53k | €60k | €52k | €61k | ▲ 17.8% |
| Other amounts payable47/48 | - | €56 | - | - | €26k | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €5k | €13k | €19k | €47k | €13k | ▼ 71.6% |
| + Depreciation and write-downs630 | €22k | €23k | €26k | €32k | €31k | ▼ 4.1% |
| Operating cash flow (approximation) | €27k | €36k | €44k | €79k | €44k | ▼ 44.1% |
| Investment in fixed assets (approximation) | - | €-5k | €-22k | €-97k | €-21k | ▲ 78.3% |
| Change in cash | - | €12k | €-24k | €11k | €-4k | ▼ 132% |
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
18-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 18 days late
2025
31-12
Financial
Equity above €150kEq €154k ▲9.5%
7 profitable years in a row build equity to €154k.
29-12
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 151 days late
05-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 189 days late
2024
31-12
Financial
Highest result since 2018net €47k ▲151%
Operating result €61k, net result €47k, both a record.
31-12
Financial
Equity above €100kEq €141k ▲50%
6 profitable years in a row build equity to €141k.
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 30 days late
2022
19-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
22-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 53 days late
2020
14-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 136 days late
2019
31-12
Financial
Back to profitnet €20k
Net result €20k after one loss-making year.
02-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 2 days late
Financial 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
Registered office, Brussel · 1 establishment unit since 2017
Ground area
186 m²
Building footprint
151 m²
Volume, LiDAR
1,455 m³
Parcel 21818A0003/00P053, Brussels · tallest building 14.1 m, ±3 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
AFNAN
since 20172.270.185.228
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21818A0003/00P053 | Brussels | 186 m² | 1 · 151 m² | 14.1 m · 3 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteBrussel2.270.185.228
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Of 514 companies in sector 10711 we hold annual accounts for 329. 233 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
Founded22-11-2017
Fiscal year end31-12
Activities, NACEBEL 2025
10711Manufacture of food products
47241Retail sale of bread and pastry (bakery outlets)
49330On-demand passenger transport by chauffeured vehicle
56112Limited-service restaurants, excluding mobile food services
56309Food and beverage service activities
82990Other business support services
Scores and ratios are computed by Checked and are not a credit decision.