AFR-Services
ActiveSummary
AFR-Services has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €116,388 and a net result of €4,255. Equity is growing by ~14.1% per year across the filed fiscal years. Its solvency ranks better than 95% of 28281 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability47▼-2
Solvency100▲+9
Growth78=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €8,000 at 30 days acceptable
short-term debt: 0.7% and cash: 23.1% of total assets, and 0.7% 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
99.3%
Return on assets
3.6%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 03-07-2026, 28 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
28 d early
2024
28 d late
2023
12 d late
2022
4 d late
2021
9 d early
2020
31 d early
2019
89 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 9 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 4 August (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
29-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€116,388▲ 3.8%
2024 · €112,132
Total assets
€117,155▼ 30.6%
2024 · €168,764
Net result
€4,255▼ 45.2%
2024 · €7,761
Working capital
€116,388▲ 3.8%
2024 · €112,132
Trend over the years
Click a name to add, emphasise or remove a line.Band: 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.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€29,690▲ 64.2%€42,513▲ 43.2%€18,978▼ 55.4%€14,534▼ 23.4%€14,246▼ 2.0%
Net result€18,807within the sector's middle half▲ 89.0%€36,506above the sector's middle half▲ 94.1%€12,806within the sector's middle half▼ 64.9%€7,761within the sector's middle half▼ 39.4%€4,255within the sector's middle half▼ 45.2%
Equity€81,274within the sector's middle half▲ 30.1%€91,565within the sector's middle half▲ 12.7%€104,371within the sector's middle half▲ 14.0%€112,132within the sector's middle half▲ 7.4%€116,388within the sector's middle half▲ 3.8%
Total assets€197,146within the sector's middle half▲ 83.0%€213,101within the sector's middle half▲ 8.1%€148,931within the sector's middle half▼ 30.1%€168,764within the sector's middle half▲ 13.3%€117,155within the sector's middle half▼ 30.6%
Debt€115,872▲ 156%€121,536▲ 4.9%€44,560▼ 63.3%€56,632▲ 27.1%€768▼ 98.6%
Working capital€95,567above the sector's middle half▲ 64.2%€99,693above the sector's middle half▲ 4.3%€104,228above the sector's middle half▲ 4.5%€112,132above the sector's middle half▲ 7.6%€116,388above the sector's middle half▲ 3.8%
Solvency41.2%within the sector's middle half▼ 16.8pp43.0%within the sector's middle half▲ 1.7pp70.1%above the sector's middle half▲ 27.1pp66.4%within the sector's middle half▼ 3.6pp99.3%above the sector's middle half▲ 32.9pp
Current ratio2.08within the sector's middle half▼ 1.101.90within the sector's middle half▼ 0.193.34above the sector's middle half▲ 1.442.98within the sector's middle half▼ 0.36
Return on assets (ROA)9.5%within the sector's middle half▲ 0.3pp17.1%within the sector's middle half▲ 7.6pp8.6%within the sector's middle half▼ 8.5pp4.6%within the sector's middle half▼ 4.0pp3.6%within the sector's middle half▼ 1.0pp
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 has fallen three years in a row; 2025 is 2% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €117,155
Equity
€116,388 ▲ 3.8%
Debt
€768 ▼ 98.6%
Debt's share of the balance-sheet total falls from 33.6% to 0.7%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
0.01▼
2024 · 0.51
ROE
3.7%▼
2024 · 6.9%
Debt ≤ 1 year
€768▼
2024 · €56,632
Income taxes
€2,974▲
2024 · €2,275
A ratio outside any meaningful range has been withheld (balance sheet total €117,155, equity €116,388).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 10,905 companies that looked in July 2024 the way this one looks now, 0.8% went bankrupt within 24 months and 95% are still going.
- Micro
- 10 to 20 years old
- solvency 30% or more
- a profit under 5% of the balance sheet
0.8%
went bankrupt
4.0%
stopped otherwise
95%
still going
For this company itself Checked computes a bankruptcy probability of 0.9% 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 497,338 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% | 1.9% |
| 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 10,905 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €6,399 | €6,619 | - | €4,309 | €31 | ▼ 99.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,456 | €11,348 | €1,891 | - | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €24,663 | - | - |
| Other operating charges640/8 | €507 | €787 | €530 | €432 | €4,902 | ▲ 1,034% |
| Gross operating margin9900 | €39,653 | €54,647 | €21,400 | €39,628 | €19,149 | ▼ 51.7% |
| Operating profit (loss)9901 | €29,690 | €42,513 | €18,978 | €14,534 | €14,246 | ▼ 2.0% |
| Financial income75/76B | - | - | €14 | €231 | €491 | ▲ 113% |
| Recurring financial income75 | - | - | €14 | €231 | €491 | ▲ 113% |
| Financial charges65/66B | €1,571 | €2,072 | €1,670 | €4,728 | €7,508 | ▲ 58.8% |
| Recurring financial charges65 | €1,571 | €2,072 | €1,670 | €4,728 | €7,508 | ▲ 58.8% |
| Profit (loss) for the period before taxes9903 | €28,120 | €40,441 | €17,322 | €10,037 | €7,229 | ▼ 28.0% |
| Income taxes67/77 | €9,312 | €3,934 | €4,516 | €2,275 | €2,974 | ▲ 30.7% |
| Profit (loss) for the period9904 | €18,807 | €36,506 | €12,806 | €7,761 | €4,255 | ▼ 45.2% |
| Profit (loss) for the period to be appropriated9905 | €18,807 | €36,506 | €12,806 | €7,761 | €4,255 | ▼ 45.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €197,146 | €213,101 | €148,931 | €168,764 | €117,155 | ▼ 30.6% |
| Fixed assets21/28 | €13,382 | €2,035 | €143 | - | - | - |
| Tangible fixed assets22/27 | €13,239 | €1,891 | - | - | - | - |
| Furniture and vehicles24 | €13,239 | €1,891 | - | - | - | - |
| Financial fixed assets28 | €143 | €143 | €143 | - | - | - |
| Current assets29/58 | €183,763 | €211,067 | €148,787 | €168,764 | €117,155 | ▼ 30.6% |
| Stocks and contracts in progress3 | - | - | €15,433 | - | - | - |
| Stocks30/36 | - | - | €15,433 | - | - | - |
| Amounts receivable within one year40/41 | €142,094 | €149,850 | €117,534 | €120,408 | €90,118 | ▼ 25.2% |
| Trade receivables40 | €137,386 | €146,168 | €111,554 | €108,866 | €79,049 | ▼ 27.4% |
| Other amounts receivable41 | €4,708 | €3,682 | €5,980 | €11,542 | €11,069 | ▼ 4.1% |
| Cash at bank and in hand54/58 | €40,533 | €60,066 | €15,820 | €48,356 | €27,038 | ▼ 44.1% |
| Deferred charges and accrued income490/1 | €1,136 | €1,150 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €197,146 | €213,101 | €148,931 | €168,764 | €117,155 | ▼ 30.6% |
| Equity10/15 | €81,274 | €91,565 | €104,371 | €112,132 | €116,388 | ▲ 3.8% |
| Contributions10/11 | €18,588 | €18,588 | €18,588 | €20,448 | €20,448 | = |
| Reserves13 | €1,860 | €1,860 | €1,860 | - | - | - |
| Non-distributable reserves130/1 | €1,860 | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | €1,860 | €1,860 | €1,860 | - | - | - |
| Profit (loss) carried forward14 | €60,826 | €71,117 | €83,923 | €91,684 | €95,940 | ▲ 4.6% |
| Amounts payable17/49 | €115,872 | €121,536 | €44,560 | €56,632 | €768 | ▼ 98.6% |
| Amounts payable after more than one year17 | €27,675 | €10,163 | - | - | - | - |
| Financial debts170/4 | €27,675 | €10,163 | - | - | - | - |
| Amounts payable within one year42/48 | €88,197 | €111,373 | €44,560 | €56,632 | €768 | ▼ 98.6% |
| Current portion of amounts payable after more than one year42 | €8,076 | €11,007 | €10,163 | €579 | - | - |
| Financial debts43 | - | - | - | €561 | - | - |
| Credit institutions430/8 | - | - | - | €561 | - | - |
| Trade debts44 | €52,473 | €93,006 | €31,915 | €53,176 | - | - |
| Suppliers440/4 | €52,473 | €93,006 | €31,915 | €53,176 | - | - |
| Taxes, remuneration and social security45 | €21,936 | €7,361 | €2,482 | €2,316 | €768 | ▼ 66.8% |
| Taxes450/3 | €8,899 | €7,246 | €2,451 | €2,284 | €768 | ▼ 66.4% |
| Remuneration and social security454/9 | €13,037 | €114 | €32 | €32 | - | - |
| Other amounts payable47/48 | €5,712 | - | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,807 | €36,506 | €12,806 | €7,761 | €4,255 | ▼ 45.2% |
| + Depreciation and write-downs630 | €9,456 | €11,348 | €1,891 | - | - | - |
| Operating cash flow (approximation) | €28,264 | €47,854 | €14,697 | €7,761 | €4,255 | ▼ 45.2% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - | - | - |
| Change in cash | - | €19,533 | -€44,246 | €32,535 | -€21,318 | ▼ 166% |
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
03-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Liquidity times 51current ratio 152.60
Current ratio from 2.98 to 152.60; short-term debt falls from €56,632 to €768.
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 28 days late
2024
12-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 12 days late
2023
31-12
Financial
Equity above €100,000Eq €104,371 ▲14%
5 profitable years in a row build equity to €104,371.
04-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 4 days late
2022
31-12
Financial
Highest result since 2018net €36,506 ▲94.1%
Operating result €42,513, net result €36,506, both a record.
22-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
28-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 89 days late
2019
31-12
Financial
Back to profitnet €15,703
Net result €15,703 after one loss-making year.
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 27 days late
2018
02-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
20-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 51 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 7 acts read
About the unread acts
We know of 7 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
7 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, Sint-Pieters-Leeuw · 1 establishment unit since 2015
Ground area
475 m²
Building footprint
184 m²
Parcel 23582E0660/00D004, Flanders. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
Generaal Lemanstraat 17, 1600 Sint-Pieters-Leeuw
since 20152.246.601.360
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23582E0660/00D004 | Flanders | 475 m² | 1 · 184 m² | - |
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 8,465 companies in sector 43120 we hold annual accounts for 3,233. 2,653 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
Founded15-10-2015
Fiscal year end31-12
Activities, NACEBEL 2025
43120Site preparation
43130Specialised construction activities
43223Specialised construction activities
43230Insulation installation
43240Other construction installation
43310Plastering work
43341Painting of buildings
43342Specialised construction activities
43990Other specialised construction activities
81220Other building cleaning and industrial cleaning
Contact
E-invoicing
Reachable via Peppol
Peppol ID
0208:0640995004
Also
9925:BE0640995004
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.