ALFAKO
ActiveThe file of ALFAKO contains 2 judicial reorganisations, as published in the Belgian State Gazette. The annual accounts of ALFAKO for fiscal year 2024 show a net loss of 90% of the equity at the start of that year. The computed 12-month bankruptcy probability is 1.9% (moderate). The 2024 annual accounts show equity of €4k and a net result of €-40k. Equity is shrinking by ~23% per year and would, assuming unchanged policy, indicatively turn negative around fiscal year 2025. Its solvency ranks better than 9% of 807 sector peers (fiscal year 2024).
Checked score
Score 2024
36
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability36▼-6
Solvency26▼-11
Growth22=
Track record60
Bankruptcy probability, 12 months
1.9%
Moderate
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity short (current ratio 0.22 against 0.27 in 2023; short-term debt: 69.4% and cash: 0.3% of total assets), and 98.8% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Nine signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 85
Relative position
BE, all sectors
reference
Sector 85
lower
← 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
1.2%
Return on assets
-11.3%
Age of the figures
24 mo
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 · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year €-40k
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 807 sector peers (2024).
NBB · sector comparisonPosition among 807 sector peers
Solvency
better than 9%
← weakest
strongest →
raises risk · Annual accounts not filed
The financial year that closed on 30-09-2025 was due at the National Bank by 30-04-2026. Nothing is on record, 145 days later.
NBB · 10 filingsPosition against the passed deadline
30-09-2025 close30-04-2026 deadline22-09-2026 today
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2024 was due by 30-04-2025 and was filed on 20-02-2025, 69 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not filed
2024
69 d early
2023
28 d late
2022
11 d early
2021
30 d late
2020
143 d late
2019
153 d late
← before the deadline
after the deadline →
Financials · fiscal year 2024, abbreviated schema
Turnover
€40k▼ 71.3%
2023 · €140k
2018: €266k
2019: €252k
2020: €168k
2021: €148k
2022: €134k
2023: €140k
2018 → 2024
EBIT margin
-85.7%▼ 70.5pp
2023 · -15.2%
2018: 5.0%
2019: -46.8%
2020: 12.5%
2021: -11.7%
2022: -37.4%
2023: -15.2%
2018 → 2024
Net result
€-40k▼ 26.9%
2023 · €-32k
2018: €12k
2019: €-130k
2020: €17k
2021: €-23k
2022: €-57k
2023: €-32k
2018 → 2024
Working capital
€-192k▼ 35.3%
2023 · €-142k
2018: €8k
2019: €-161k
2020: €-124k
2021: €-125k
2022: €-182k
2023: €-142k
2018 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Turnover€168k-€148k▼ 11.8%€134k▼ 9.5%€140k▲ 4.4%€40k▼ 71.3%
Equity€156k-€133k▼ 14.6%€76k▼ 42.8%€44k▼ 41.6%€4k▼ 90.5%
Operating result€21k-€-17k€-50k▼ 189%€-21k▲ 57.5%€-34k▼ 62.1%
Net result€17k-€-23k€-57k▼ 151%€-32k▲ 44.5%€-40k▼ 26.9%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €34k in 2024 against €21k in 2023; the loss grows.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €356k
Fixed assets
€301k▼ 0.7%
Current assets
€55k▲ 3.8%
Equity and liabilities €356k
Equity
€4k▼ 90.5%
Debt
€352k▲ 12.9%
The debt ratio rises from 87.5% to 98.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€6k▼
2023 · €20k
Cash flow
€250▼
2023 · €10k
Solvency
1.2%▼
2023 · 12.5%
Current ratio
0.22▼
2023 · 0.27
Quick ratio
0.07▼
2023 · 0.08
Debt / equity
83.00▲
2023 · 7.02
ROE
-947.9%▼
2023 · -71.3%
ROA
-11.3%▼
2023 · -8.9%
Interest coverage
1.04▼
2023 · 1.94
Debt
€352k▲
2023 · €312k
Debt ≤ 1 year
€247k▲
2023 · €195k
Debt > 1 year
€105k▼
2023 · €117k
Staff costs
€-2k▼
2023 · €22k
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€356k€356k=
Fixed assets21/28€303k€301k▼
Tangible fixed assets22/27€303k€301k▼
Other tangible fixed assets26€303k€301k▼
Current assets29/58€53k€55k▲
Stocks and contracts in progress3€37k€37k▼
Stocks30/36€37k€37k▼
Amounts receivable within one year40/41€15k€17k▲
Trade receivables40€15k€17k▲
Cash at bank and in hand54/58€1k€909▼
Equity and liabilities
Total equity and liabilities10/49€356k€356k=
Equity10/15€44k€4k▼
Contributions10/11€150k€150k=
Revaluation surpluses12€166k€166k=
Profit (loss) carried forward14€-272k€-312k▼
Amounts payable17/49€312k€352k▲
Amounts payable after more than one year17€117k€105k▼
Financial debts170/4€57k€105k▲
Other amounts payable178/9€59k-
Amounts payable within one year42/48€195k€247k▲
Current portion of amounts payable after more than one year42€10k€14k▲
Financial debts43€3k€6k▲
Credit institutions430/8€3k€6k▲
Trade debts44€140k€191k▲
Suppliers440/4€140k€191k▲
Taxes, remuneration and social security45€39k€33k▼
Taxes450/3€34k€31k▼
Remuneration and social security454/9€5k€2k▼
Other amounts payable47/48€3k€3k=
Income statement
Code20232024
Turnover70€140k€40k▼
Non-recurring operating income76A€8k-
Goods, raw materials, services and sundry goods60/61€92k€29k▼
Remuneration, social security and pensions62€22k€-2k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€41k€40k▼
Other operating charges640/8€14k€7k▼
Non-recurring operating charges66A€0-
Gross operating margin9900€56k€11k▼
Operating profit (loss)9901€-21k€-34k▼
Financial charges65/66B€10k€6k▼
Recurring financial charges65€10k€6k▼
Profit (loss) for the period before taxes9903€-32k€-40k▼
Profit (loss) for the period9904€-32k€-40k▼
Profit (loss) for the period to be appropriated9905€-32k€-40k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-272k€-312k▼
Profit (loss) brought forward from the previous period14P€-240k€-272k▼
Social balance
Average headcount (FTE)90870.8-
The notes to these accounts (11 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
20-02
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
28-05
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 28 days late
23-02
Judicial reorganisation
Plan homologation
Ondernemingsrechtbank Gent · 20230033 · event 20-02-2024
2023
30-10
Judicial reorganisation
Opening
Ondernemingsrechtbank Gent · collectif · event 24-10-2023
19-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 30 days late
2021
20-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 143 days late
2020
30-09
Financial
Back to profitnet €17k
Net result €17k after one loss-making year.
30-09
Financial
Equity above €150kEq €156k ▲11.9%
Equity rises from €139k to €156k.
30-09
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 153 days late
2019
30-09
Financial
Weakest financial yearnet €-130k ▼1227%
Net result drops to €-130k, the lowest in the series; recovery starts the following year.
09-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 70 days late
2018
02-05
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 2 days late
30-04
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 365 days late
2016
11-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema · 72 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
4 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-Martens-Latem · 1 establishment unit since 2007
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.
Broekstraat 559831 Sint-Martens-LatemGround area
6,561 m²
Building footprint
875 m²
Volume, LiDAR
5,301 m³
2 parcels, Flanders · tallest building 9.0 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
ALFAKO
since 20072.165.254.982
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44015B0522/00E000 | Flanders | 5,970 m² | 1 · 284 m² | 9.0 m · 2 fl. |
| 34302B0875/00F009 | Flanders | 591 m² | 1 · 591 m² | 7.7 m · 2 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 293 companies in sector 85532 we hold annual accounts for 83. 39 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company (pre-2019)
Founded07-09-2007
Fiscal year end30-09
Activities, NACEBEL
85532Education
52230Warehousing and support activities for transportation
63230
63303
79901Tourist information services
Sources
Crossroads Bank for EnterprisesNational Bank · 17 filingsAddress and cadastre registers
Data from official sources, last processed on 22-09-2026. Scores and ratios are computed by Checked and are not a credit decision.