ALFA SECURITY
ActiveSummary
ALFA SECURITY has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €27,386 and a net result of €7,138. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 60% of 7940 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability72▲+31
Solvency78▲+27
Growth39▲+17
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1,500 at 30 days acceptable
Liquidity ample (current ratio 2.12 against 1.35 in 2024; short-term debt: 47.2% and cash: 0% of total assets), and 47.2% 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 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
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
52.8%
Return on assets
13.8%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €27,386
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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 · 10 filingsDeviation from the deadline
2025
31 d late
2024
60 d late
2023
31 d late
2022
39 d early
2021
81 d late
2020
340 d late
2019
122 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 89 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 1 September (4 of the last 5 filed years within 49 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, abbreviated schema
In the rankings
#5 oldest company in Eghezée, Construction sector
Turnover
€229,780▼ 9.5%
2018 · €253,837
EBIT margin
2.1%▲ 1.0pp
2018 · 1.1%
Net result
€7,138▲ 493%
2024 · €1,204
Working capital
€27,386▲ 38.6%
2024 · €19,766
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
Turnover
Operating result-€3,552▲ 82.6%€8,969€14,352▲ 60.0%€5,568▼ 61.2%€7,662▲ 37.6%
Net result-€21,199below the sector's middle half▲ 7.3%€7,003within the sector's middle half€6,023within the sector's middle half▼ 14.0%€1,204within the sector's middle half▼ 80.0%€7,138within the sector's middle half▲ 493%
EBIT margin
Equity€6,618below the sector's middle half▼ 76.2%€13,020below the sector's middle half▲ 96.7%€19,043below the sector's middle half▲ 46.3%€20,248below the sector's middle half▲ 6.3%€27,386below the sector's middle half▲ 35.3%
Total assets€125,360within the sector's middle half▲ 1.1%€87,086within the sector's middle half▼ 30.5%€87,963within the sector's middle half▲ 1.0%€77,102within the sector's middle half▼ 12.3%€51,851below the sector's middle half▼ 32.7%
Debt€118,743▲ 23.4%€74,066▼ 37.6%€68,919▼ 6.9%€56,854▼ 17.5%€24,465▼ 57.0%
Working capital€6,136within the sector's middle half▼ 75.4%€12,538within the sector's middle half▲ 104%€18,561within the sector's middle half▲ 48.0%€19,766within the sector's middle half▲ 6.5%€27,386within the sector's middle half▲ 38.6%
Solvency5.3%below the sector's middle half▼ 17.2pp15.0%below the sector's middle half▲ 9.7pp21.6%below the sector's middle half▲ 6.7pp26.3%within the sector's middle half▲ 4.6pp52.8%within the sector's middle half▲ 26.6pp
Current ratio1.05below the sector's middle half▼ 0.211.17within the sector's middle half▲ 0.121.27within the sector's middle half▲ 0.101.35within the sector's middle half▲ 0.082.12within the sector's middle half▲ 0.77
Return on assets (ROA)-16.9%below the sector's middle half▲ 1.5pp8.0%within the sector's middle half▲ 25.0pp6.8%within the sector's middle half▼ 1.2pp1.6%within the sector's middle half▼ 5.3pp13.8%above the sector's middle half▲ 12.2pp
Staff (FTE)1.7▼ 15.0%
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 abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 38% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €51,851
Equity
€27,386 ▲ 35.3%
Debt
€24,465 ▼ 57.0%
Debt's share of the balance-sheet total falls from 73.7% to 47.2%. Equity is higher and debt is lower.
Key figures and ratios
Quick ratio
1.92▲
2024 · 1.35
Debt to equity
0.89▼
2024 · 2.81
ROE
26.1%▲
2024 · 5.9%
Debt ≤ 1 year
€24,465▼
2024 · €56,854
Income taxes
€701
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,370 companies that looked in July 2024 the way this one looks now, 0.5% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.5%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
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 497,338 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 31,370 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 |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €20,878 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,442 | - | - | - | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €1,526 | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | -€1,433 | - | - | - | - |
| Other operating charges640/8 | €7,844 | €2,914 | €3,527 | €11,481 | €3,983 | ▼ 65.3% |
| Gross operating margin9900 | €27,612 | €10,451 | €17,879 | €17,049 | €13,171 | ▼ 22.7% |
| Operating profit (loss)9901 | -€3,552 | €8,969 | €14,352 | €5,568 | €7,662 | ▲ 37.6% |
| Financial income75/76B | €1,027 | €3,107 | €802 | €105 | €2,381 | ▲ 2,158% |
| Recurring financial income75 | €1,027 | €3,107 | €802 | €105 | €2,381 | ▲ 2,158% |
| Financial charges65/66B | €3,477 | €5,287 | €5,080 | €4,469 | €2,204 | ▼ 50.7% |
| Recurring financial charges65 | €3,477 | €5,287 | €5,080 | €4,469 | €2,204 | ▼ 50.7% |
| Profit (loss) for the period before taxes9903 | -€6,001 | €6,789 | €10,074 | €1,204 | €7,839 | ▲ 551% |
| Income taxes67/77 | €15,198 | -€213 | €4,051 | - | €701 | - |
| Profit (loss) for the period9904 | -€21,199 | €7,003 | €6,023 | €1,204 | €7,138 | ▲ 493% |
| Profit (loss) for the period to be appropriated9905 | -€21,199 | €7,003 | €6,023 | €1,204 | €7,138 | ▲ 493% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €125,360 | €87,086 | €87,963 | €77,102 | €51,851 | ▼ 32.7% |
| Fixed assets21/28 | €482 | €482 | €482 | €482 | €0 | ▼ 100% |
| Financial fixed assets28 | €482 | €482 | €482 | €482 | €0 | ▼ 100% |
| Current assets29/58 | €124,878 | €86,604 | €87,481 | €76,620 | €51,851 | ▼ 32.3% |
| Stocks and contracts in progress3 | - | €5,050 | - | - | €4,902 | - |
| Stocks30/36 | - | €5,050 | - | - | €4,902 | - |
| Amounts receivable within one year40/41 | €123,621 | €76,210 | €80,303 | €74,763 | €45,473 | ▼ 39.2% |
| Trade receivables40 | €103,420 | €66,602 | €77,031 | €71,882 | €31,771 | ▼ 55.8% |
| Other amounts receivable41 | €20,201 | €9,608 | €3,272 | €2,881 | €13,703 | ▲ 376% |
| Current investments50/53 | €1 | €0 | €0 | €0 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €1,256 | €5,343 | €7,177 | €1,857 | €0 | ▼ 100% |
| Deferred charges and accrued income490/1 | - | - | - | - | €1,476 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €125,360 | €87,086 | €87,963 | €77,102 | €51,851 | ▼ 32.7% |
| Equity10/15 | €6,618 | €13,020 | €19,043 | €20,248 | €27,386 | ▲ 35.3% |
| Contributions10/11 | €12,395 | €12,395 | €12,395 | €12,395 | €12,395 | = |
| Reserves13 | €3,718 | €3,718 | €3,718 | €3,718 | €3,718 | = |
| Non-distributable reserves130/1 | €3,718 | €3,718 | €3,718 | €3,718 | €3,718 | = |
| Reserves not available under the articles1311 | €3,718 | €3,718 | €3,718 | €3,718 | €3,718 | = |
| Profit (loss) carried forward14 | -€9,495 | -€3,093 | €2,930 | €4,135 | €11,273 | ▲ 173% |
| Amounts payable17/49 | €118,743 | €74,066 | €68,919 | €56,854 | €24,465 | ▼ 57.0% |
| Amounts payable within one year42/48 | €118,743 | €74,066 | €68,919 | €56,854 | €24,465 | ▼ 57.0% |
| Financial debts43 | €3,639 | €5,699 | €6,716 | €6,408 | €6,667 | ▲ 4.1% |
| Credit institutions430/8 | €3,639 | €5,699 | €6,716 | €6,408 | €6,667 | ▲ 4.1% |
| Trade debts44 | €113,271 | €64,834 | €46,259 | €39,909 | €12,624 | ▼ 68.4% |
| Suppliers440/4 | €113,271 | €64,834 | €46,259 | €39,909 | €12,624 | ▼ 68.4% |
| Taxes, remuneration and social security45 | €1,833 | €787 | €3,808 | €3,812 | €5,173 | ▲ 35.7% |
| Taxes450/3 | €400 | €787 | €3,808 | €3,812 | €5,173 | ▲ 35.7% |
| Remuneration and social security454/9 | €1,433 | - | - | - | - | - |
| Other amounts payable47/48 | - | €2,746 | €12,137 | €6,725 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€21,199 | €7,003 | €6,023 | €1,204 | €7,138 | ▲ 493% |
| + Depreciation and write-downs630 | €2,442 | - | - | - | - | - |
| Operating cash flow (approximation) | -€18,757 | €7,003 | €6,023 | €1,204 | €7,138 | ▲ 493% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €482 | - |
| Change in cash | - | €4,087 | €1,834 | -€5,320 | -€1,857 | ▲ 65.1% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 31 days late
22-05
State Gazette act
Resignation: Eric Arteman (manager and director)3 facts ▸
State Gazette act
Resignation: Eric Arteman (manager and director)
3 facts ▸
- General meeting, 31-12-2025
- Director resignation, Eric Arteman (manager and director)
- Director in office, P. Baccus SRL (director)
2025
31-12
Financial
Highest result since 2018net €7,138 ▲493%
Net result €7,138, the highest in the series.
29-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 60 days late
2024
31-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 31 days late
2023
22-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Back to profitnet €7,003
Net result €7,003 after 2 loss-making years.
20-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 81 days late
06-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 340 days late
2020
31-12
Financial
Weakest financial yearnet -€22,871
Net result drops to -€22,871, the lowest in the series; recovery starts the following year.
30-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 122 days late
2019
30-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 30 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
no sitting director, last change in 2026
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
Not every act has been read: a resignation may be missing here
3 of this company's 4 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Eghezée · 1 establishment unit since 1993
Ground area
1,192 m²
Building footprint
143 m²
Parcel 92072A0470/00B002, Wallonia. Linked by address, not a title deed.
1 establishment unit
Route des Six Frères, Leuze 35, 5310 Eghezée
since 19932.063.346.386
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92072A0470/00B002 | Wallonia | 1,192 m² | 1 · 143 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.
Mandate history
1 person since 2026, 0 in office
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Eric Arteman |
|
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Of 22,827 companies in sector 43211 we hold annual accounts for 10,338. 7,845 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
Founded05-07-1993
Fiscal year end31-12
Activities, NACEBEL 2025
43211General electrical installation work
Contact
Website
www.alfasecurity.be
E-mail
info@security.be
E-invoicing
Reachable via Peppol
Peppol ID
0208:0450538769
Registered
22-12-2025
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.