AFRICAN WAY
ActiveThe computed 12-month bankruptcy probability of AFRICAN WAY is 3.6% (moderate). The 2024 annual accounts show equity of €41k and a net result of €17k. Equity is growing by ~88.1% per year across the filed fiscal years. Its solvency ranks better than 37% of 26048 sector peers (fiscal year 2024). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
50
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability78▲+2
Solvency43▲+5
Growth78=
Track record94
Bankruptcy probability, 12 months
3.6%
Moderate
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity tight (current ratio 1.23 against 1.16 in 2023; short-term debt: 71.4% and cash: 17.2% of total assets), and 81.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
18.2%
Return on assets
7.5%
Age of the figures
21 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-09-2025, 60 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 · 4 filingsDeviation from the deadline
2025
not confirmed
2024
60 d late
2023
37 d late
2022
190 d late
2021
268 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€17k▲ 53.6%
2023 · €11k
2021: €983
2022: €7k
2023: €11k
2021 → 2024
Working capital
€37k▲ 55.3%
2023 · €24k
2021: €6k
2022: €17k
2023: €24k
2021 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2021202220232024Trend
Equity€6k-€13k▲ 116%€24k▲ 86.1%€41k▲ 71.1%
Operating result€1k-€7k▲ 616%€14k▲ 90.1%€26k▲ 88.8%
Net result€983-€7k▲ 608%€11k▲ 60.1%€17k▲ 53.6%
Result per fiscal year
Operating resultNet result
The operating result has risen three years in a row; 2024 is 89% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €227k
Fixed assets
€28k▲ 59.1%
Current assets
€199k▲ 14.2%
Equity and liabilities €227k
Equity
€41k▲ 71.1%
Debt
€186k▲ 10.7%
The debt ratio falls from 87.4% to 81.8%. Equity and debt are higher.
Key figures and ratios
EBITDA
€43k▲
2023 · €26k
Cash flow
€34k▲
2023 · €23k
Solvency
18.2%▲
2023 · 12.6%
Current ratio
1.23▲
2023 · 1.16
Quick ratio
0.29▼
2023 · 0.36
Debt / equity
4.51▼
2023 · 6.96
ROE
41.5%▼
2023 · 46.3%
ROA
7.5%▲
2023 · 5.8%
Interest coverage
10.16▲
2023 · 9.76
Debt
€186k▲
2023 · €168k
Debt ≤ 1 year
€162k▲
2023 · €150k
Debt > 1 year
€24k▲
2023 · €17k
Income taxes
€5k
Staff costs
€89k▲
2023 · €23k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2024 against 2023
Balance sheet
Code20232024
Assets
Total assets20/58€192k€227k▲
Fixed assets21/28€17k€28k▲
Tangible fixed assets22/27€17k€28k▲
Furniture and vehicles24€17k€28k▲
Current assets29/58€174k€199k▲
Stocks and contracts in progress3€121k€153k▲
Stocks30/36€121k€153k▲
Amounts receivable within one year40/41€18k€7k▼
Other amounts receivable41€18k€7k▼
Cash at bank and in hand54/58€25k€39k▲
Deferred charges and accrued income490/1€10k-
Equity and liabilities
Total equity and liabilities10/49€192k€227k▲
Equity10/15€24k€41k▲
Contributions10/11€5k€5k=
Capital10€5k€5k=
Issued capital100€5k€5k=
Reserves13€49€49=
Non-distributable reserves130/1€49€49=
Legal reserve130€49€49=
Profit (loss) carried forward14€19k€36k▲
Amounts payable17/49€168k€186k▲
Amounts payable after more than one year17€17k€24k▲
Financial debts170/4€17k€24k▲
Amounts payable within one year42/48€150k€162k▲
Current portion of amounts payable after more than one year42€7k€10k▲
Trade debts44€129k€148k▲
Suppliers440/4€129k€148k▲
Taxes, remuneration and social security45€15k€3k▼
Taxes450/3-€3k
Remuneration and social security454/9€15k-
Income statement
Code20232024
Remuneration, social security and pensions62€23k€89k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12k€16k▲
Other operating charges640/8€3k€2k▼
Gross operating margin9900€52k€134k▲
Operating profit (loss)9901€14k€26k▲
Financial charges65/66B€3k€4k▲
Recurring financial charges65€3k€4k▲
Profit (loss) for the period before taxes9903€11k€22k▲
Income taxes67/77-€5k
Profit (loss) for the period9904€11k€17k▲
Profit (loss) for the period to be appropriated9905€11k€17k▲
Appropriation of the result
Profit (loss) to be appropriated9906€19k€36k▲
Profit (loss) brought forward from the previous period14P€8k€19k▲
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2026
07-09
State Gazette act
General meeting · Share transferGeneral meeting · Share transfer · Share distribution6 facts ▸
State Gazette act
General meeting · Share transfer
General meeting · Share transfer · Share distribution6 facts ▸
- General meeting, 2025-09-25
- Share transfer, Muhammad Tauqeer → Mirza Luqman Ali
- Share transfer, Yasar-Iqbal Rasheed Begum → Mirza Luqman Ali
- Share transfer, Mirza Usman Ali → Mirza Luqman Ali
- Share distribution, 50
- Share distribution, 50
2025
29-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 60 days late
2024
31-12
Financial
Highest result since 2021net €17k ▲53.6%
Operating result €26k, net result €17k, both a record.
06-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 37 days late
06-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 190 days late
2023
25-04
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 268 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Anderlecht · 1 establishment unit since 2021
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.
Ropsy Chaudronstraat 431070 AnderlechtGround area
175 m²
Building footprint
177 m²
Volume, LiDAR
1,917 m³
Parcel 21304B0130/00M000, Brussels · tallest building 18.9 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
AFRICAN WAY
since 20212.313.105.154
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21304B0130/00M000 | Brussels | 175 m² | 1 · 177 m² | 18.9 m · 3 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
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
Capital and shareholders
Transfer of 10 shares from Muhammad Tauqeer to Mirza Luqman Ali
Transfer of 15 shares from Yasar-Iqbal Rasheed Begum to Mirza Luqman Ali
Transfer of 10 shares from Mirza Usman Ali to Mirza Luqman Ali
Recognitions · licences · registrations
Food safety, FASFC
1 siteAnderlecht2.313.105.154
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Of 10,524 companies in sector 47110 we hold annual accounts for 5,859. 4,573 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded03-02-2021
Fiscal year end31-12
Activities, NACEBEL
47110Non-specialised retail sale with food, beverages or tobacco predominating
47112Retail trade
Sources
Crossroads Bank for EnterprisesNational Bank · 4 filingsAddress and cadastre registers
Data from official sources, last processed on 19-09-2026. Scores and ratios are computed by Checked and are not a credit decision.
Contact details
1 entryE-mail:usmanalibelgium0@gmail.com