AIR FLOW
ActiveSummary
The computed 12-month bankruptcy probability of AIR FLOW is 1.7% (moderate). The 2025 annual accounts show negative equity (-€179,242) and a net result of -€113,864. Equity remains stable across the filed fiscal years (±0.2% per year). Its solvency ranks better than 6% of 28374 sector peers (fiscal year 2025). The company has been active since 1984 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability3▼-97
Solvency5▲+5
Growth32▼-46
Track record100
Bankruptcy probability, 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.83 against 0.45 in 2024; short-term debt: 120.1% and cash: 0.1% of total assets), and equity is negative.
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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 43
Relative position
BE, all sectors
reference
Specialised construction activities (NACE 43)
about 85% 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
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 2025Solvency, return and age of the figures
Solvency
-20.1%
Return on assets
-12.8%
Age of the figures
18 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€179,242
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 31-10-2025, 0 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
on the day
2024
on the day
2023
106 d late
2022
24 d late
2021
10 d late
2020
37 d early
2019
49 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 22 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 31-03-2026 and is due by 31-10-2026. Nothing is late today. Usually files around 10 November (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
31-03-2026 close30-09-2026 today31-10-2026 deadline
History
Go further with this company
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Financials · fiscal year 2025, micro schema
In the rankings
#8 company by total assets in Sint-Pieters-Woluwe, Construction sector#8 oldest company in Sint-Pieters-Woluwe, Construction sector
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€113,864
2024 · €45,063
Working capital
-€182,336▼ 164%
2024 · -€69,055
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: 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. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€10,729€5,169€6,796▲ 31.5%€50,404▲ 642%-€110,503
Net result-€10,941below the sector's middle half€4,925within the sector's middle half€6,699within the sector's middle half▲ 36.0%€45,063above the sector's middle half▲ 573%-€113,864below the sector's middle half
Equity-€122,065below the sector's middle half▼ 9.8%-€117,140below the sector's middle half▲ 4.0%-€110,441below the sector's middle half▲ 5.7%-€65,378below the sector's middle half▲ 40.8%-€179,242below the sector's middle half▼ 174%
Total assets€12,148below the sector's middle half▲ 7.8%€9,111below the sector's middle half▼ 25.0%€30,033below the sector's middle half▲ 230%€60,023below the sector's middle half▲ 99.9%€890,065above the sector's middle half▲ 1,383%
Debt€134,213▲ 9.7%€126,251▼ 5.9%€140,475▲ 11.3%€125,401▼ 10.7%€1.1m▲ 753%
Working capital-€124,867below the sector's middle half▼ 7.4%-€122,172below the sector's middle half▲ 2.2%-€114,311below the sector's middle half▲ 6.4%-€69,055below the sector's middle half▲ 39.6%-€182,336below the sector's middle half▼ 164%
Solvency-367.7%below the sector's middle half-108.9%below the sector's middle half▲ 258.8pp-20.1%below the sector's middle half▲ 88.8pp
Current ratio0.07below the sector's middle half▲ 0.020.03below the sector's middle half▼ 0.040.19below the sector's middle half▲ 0.150.45below the sector's middle half▲ 0.260.83below the sector's middle half▲ 0.38
Return on assets (ROA)-90.1%below the sector's middle half▼ 117.4pp54.1%above the sector's middle half▲ 144.1pp22.3%above the sector's middle half▼ 31.8pp75.1%above the sector's middle half▲ 52.8pp-12.8%below the sector's middle half▼ 87.9pp
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.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €110,503 after €50,404 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €890,065
Fixed assets
€3,095 ▼ 15.8%
Current assets
€886,970 ▲ 1,474%
Key figures and ratios
EBITDA
-€107,624▼
2024 · €53,526
Cash flow
-€110,984▼
2024 · €48,185
Debt to equity
-5.97▼
2024 · -1.92
Interest coverage
-21.06▼
2024 · 13.51
Debt ≤ 1 year
€1.1m▲
2024 · €125,401
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 678 companies that looked in July 2024 the way this one looks now, 6.8% went bankrupt within 24 months and 85% are still going.
- Small
- 20 years or older
- negative equity
- a loss of 10% of the balance sheet or more
6.8%
went bankrupt
6.2%
stopped otherwise
85%
still going
A further 2.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.7% 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 497,340 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% | 1.8% |
| 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 678 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 | - | €7 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,347 | €2,149 | €2,862 | €3,122 | €2,880 | ▼ 7.8% |
| Other operating charges640/8 | - | €673 | €57 | €1,742 | €647 | ▼ 62.8% |
| Gross operating margin9900 | -€8,016 | €7,992 | €9,715 | €55,267 | -€106,976 | ▼ 294% |
| Operating profit (loss)9901 | -€10,729 | €5,169 | €6,796 | €50,404 | -€110,503 | ▼ 319% |
| Financial income75/76B | - | €49 | - | €97 | €1,751 | ▲ 1,696% |
| Recurring financial income75 | - | €49 | - | €97 | €1,751 | ▲ 1,696% |
| Financial charges65/66B | - | €293 | €96 | €3,961 | €5,111 | ▲ 29.0% |
| Recurring financial charges65 | €212 | €293 | €96 | €3,961 | €5,111 | ▲ 29.0% |
| Profit (loss) for the period before taxes9903 | -€10,941 | €4,925 | €6,699 | €46,541 | -€113,864 | ▼ 345% |
| Income taxes67/77 | - | - | - | €1,477 | - | - |
| Profit (loss) for the period9904 | -€10,941 | €4,925 | €6,699 | €45,063 | -€113,864 | ▼ 353% |
| Profit (loss) for the period to be appropriated9905 | -€10,941 | €4,925 | €6,699 | €45,063 | -€113,864 | ▼ 353% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €12,148 | €9,111 | €30,033 | €60,023 | €890,065 | ▲ 1,383% |
| Fixed assets21/28 | €2,802 | €5,032 | €3,870 | €3,677 | €3,095 | ▼ 15.8% |
| Tangible fixed assets22/27 | €2,802 | €5,032 | €3,870 | €3,677 | €3,095 | ▼ 15.8% |
| Furniture and vehicles24 | - | €5,032 | €3,870 | €3,677 | €3,095 | ▼ 15.8% |
| Current assets29/58 | €9,346 | €4,079 | €26,164 | €56,347 | €886,970 | ▲ 1,474% |
| Amounts receivable within one year40/41 | €4,080 | €2,694 | €25,615 | €48,950 | €886,245 | ▲ 1,711% |
| Trade receivables40 | - | €2,694 | €25,615 | €48,950 | €875,919 | ▲ 1,689% |
| Other amounts receivable41 | - | - | - | - | €10,326 | - |
| Cash at bank and in hand54/58 | €5,266 | €1,385 | €549 | €7,397 | €725 | ▼ 90.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €12,148 | €9,111 | €30,033 | €60,023 | €890,065 | ▲ 1,383% |
| Equity10/15 | -€122,065 | -€117,140 | -€110,441 | -€65,378 | -€179,242 | ▼ 174% |
| Contributions10/11 | - | €18,642 | €18,642 | €18,642 | €18,642 | = |
| Reserves13 | €3,847 | €3,847 | €3,847 | €3,847 | €3,847 | = |
| Non-distributable reserves130/1 | - | €1,864 | €1,864 | €1,864 | €1,864 | = |
| Reserves not available under the articles1311 | - | €1,864 | €1,864 | €1,864 | €1,864 | = |
| Distributable reserves133 | - | €1,983 | €1,983 | €1,983 | €1,983 | = |
| Profit (loss) carried forward14 | -€144,554 | -€139,629 | -€132,930 | -€87,867 | -€201,731 | ▼ 130% |
| Amounts payable17/49 | €134,213 | €126,251 | €140,475 | €125,401 | €1.1m | ▲ 753% |
| Amounts payable within one year42/48 | €134,213 | €126,251 | €140,475 | €125,401 | €1.1m | ▲ 753% |
| Trade debts44 | - | - | €13,456 | €22,642 | €1.0m | ▲ 4,319% |
| Suppliers440/4 | - | - | €13,456 | €22,642 | €1.0m | ▲ 4,319% |
| Taxes, remuneration and social security45 | - | €1,389 | €6,070 | €2,308 | - | - |
| Taxes450/3 | - | €1,389 | €6,070 | €2,308 | - | - |
| Other amounts payable47/48 | - | €124,862 | €120,949 | €100,451 | €68,745 | ▼ 31.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€10,941 | €4,925 | €6,699 | €45,063 | -€113,864 | ▼ 353% |
| + Depreciation and write-downs630 | €2,347 | €2,149 | €2,862 | €3,122 | €2,880 | ▼ 7.8% |
| Operating cash flow (approximation) | -€8,595 | €7,074 | €9,561 | €48,185 | -€110,984 | ▼ 330% |
| Investment in fixed assets (approximation) | - | -€4,379 | -€1,700 | -€2,929 | -€2,298 | ▲ 21.6% |
| Change in cash | - | -€3,882 | -€835 | €6,847 | -€6,672 | ▼ 197% |
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
2025
31-10
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
31-03
Financial
Weakest financial yearnet -€113,864
Net result drops to -€113,864, the lowest in the series.
2024
31-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
31-03
Financial
Highest result since 2019net €45,063 ▲573%
Operating result €50,404, net result €45,063, both a record.
14-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 106 days late
2022
24-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 24 days late
31-03
Financial
Back to profitnet €4,925
Net result €4,925 after one loss-making year.
2021
10-11
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 10 days late
2020
24-09
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
31-03
Financial
Back to profitnet €3,086
Net result €3,086 after one loss-making year.
2019
19-12
NBB filing
Annual accounts filed
fiscal year 2019 · full schema · 49 days late
2018
24-11
NBB filing
Annual accounts filed
fiscal year 2018 · full schema · 24 days late
2017
19-09
NBB filing
Annual accounts filed
fiscal year 2017 · full schema
2016
25-09
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
2 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-Woluwe · 1 establishment unit since 1984
Ground area
629 m²
Building footprint
327 m²
Volume, LiDAR
7,655 m³
Parcel 21019A0196/00K002, Brussels · tallest building 28.5 m, ±8 floors. Linked by address, not a title deed.
22
companies at this address
See who is registered here
1 establishment unit
AIRFLOW
since 19842.026.188.656
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21019A0196/00K002 | Brussels | 629 m² | 1 · 327 m² | 28.5 m · 8 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.
Similar companies · same sector and region
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BE 0425.885.428
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A2C DECO
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 914 companies in sector 43333 we hold annual accounts for 403. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company (pre-2019)
Founded01-11-1984
Fiscal year end31-03
Activities, NACEBEL 2025
43333Wallpapering and laying of floor and wall coverings in other materials
93299Other amusement and recreation activities
E-invoicing
Reachable via Peppol
Peppol ID
0208:0426704780
Registered
02-02-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.