ALFAPRO
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 06-01-2026 PDF all 31 filings
Every figure per financial year
The operating result for 2025 is a loss of €5,021, larger than the loss of €2,948 in 2024. It is the lowest result since 2022.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them.
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €744 | - | - | - | - | - | - | - |
| Other operating charges640/8 | - | - | - | €410 | €930 | €1,022 | €449 | ▼ 56.0% |
| Gross operating margin9900 | €222,121 | €202,722 | €46,504 | -€6,311 | -€2,203 | -€1,926 | -€4,572 | ▼ 137% |
| Operating profit (loss)9901 | €219,091 | €200,420 | €46,232 | -€6,720 | -€3,133 | -€2,948 | -€5,021 | ▼ 70.3% |
| Financial income75/76B | - | - | - | €36,939 | €5,447 | €3,892 | €7,402 | ▲ 90.2% |
| Recurring financial income75 | €275 | €6,245 | €12,062 | €36,939 | €5,447 | €3,892 | €7,402 | ▲ 90.2% |
| Financial charges65/66B | - | - | - | €426 | €472 | €575 | €694 | ▲ 20.8% |
| Recurring financial charges65 | €393 | €1,529 | €1,807 | €426 | €472 | €575 | €694 | ▲ 20.8% |
| Profit (loss) for the period before taxes9903 | €218,974 | €205,136 | €56,486 | €29,793 | €1,842 | €368 | €1,686 | ▲ 358% |
| Income taxes67/77 | €69,221 | €74,640 | €18,971 | €9,938 | €492 | €98 | €421 | ▲ 329% |
| Profit (loss) for the period9904 | €149,753 | €130,497 | €37,515 | €19,855 | €1,351 | €270 | €1,264 | ▲ 368% |
| Profit (loss) for the period to be appropriated9905 | €149,753 | €130,497 | €37,515 | €19,855 | €1,351 | €270 | €1,264 | ▲ 368% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.4m | €1.5m | €1.6m | €0.5m | €0.4m | €0.4m | €0.4m | ▼ 13.1% |
| Fixed assets21/28 | €0.03m | - | - | - | - | - | - | - |
| Tangible fixed assets22/27 | €0.03m | - | - | - | - | - | - | - |
| Current assets29/58 | €0.4m | €1.5m | €1.6m | €0.5m | €0.4m | €0.4m | €0.4m | ▼ 13.1% |
| Amounts receivable after more than one year29 | - | - | - | €0.3m | €0.2m | €0.2m | €0.2m | ▼ 3.2% |
| Trade receivables290 | - | - | - | €0.1m | €0.1m | - | - | - |
| Other amounts receivable291 | - | - | - | €0.2m | €0.1m | €0.2m | €0.2m | ▼ 3.2% |
| Stocks and contracts in progress3 | - | €0.03m | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €0.2m | €0.5m | €0.1m | €0.1m | €0.1m | €0.1m | €0.06m | ▼ 56.6% |
| Trade receivables40 | - | - | - | €0.05m | €0.05m | €0.05m | €0.05m | = |
| Other amounts receivable41 | - | - | - | €0.08m | €0.08m | €0.08m | €0.006m | ▼ 92.6% |
| Cash at bank and in hand54/58 | €0.2m | €0.7m | €0.3m | €0.04m | €0.03m | €0.02m | €0.08m | ▲ 398% |
| Deferred charges and accrued income490/1 | - | - | - | €0.04m | €0.04m | €0.04m | €0 | ▼ 100% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.4m | €1.5m | €1.6m | €0.5m | €0.4m | €0.4m | €0.4m | ▼ 13.1% |
| Equity10/15 | €0.3m | €0.5m | €0.5m | €0.5m | €0.4m | €0.4m | €0.4m | ▲ 0.4% |
| Contributions10/11 | €0.02m | - | - | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Reserves13 | €0.3m | €0.5m | €0.5m | €0.5m | €0.4m | €0.3m | €0.3m | ▲ 0.4% |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €101 | €101 | = |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0 | - | - |
| Other1319 | - | - | - | - | €101 | €101 | €101 | = |
| Tax-exempt reserves132 | - | - | - | €101 | - | - | - | - |
| Distributable reserves133 | - | - | - | €0.5m | €0.4m | €0.3m | €0.3m | ▲ 0.4% |
| Profit (loss) carried forward14 | - | - | - | - | €0 | €0 | €0 | - |
| Amounts payable17/49 | €0.07m | €1.0m | €1.1m | €0.01m | €0.01m | €0.06m | €0.002m | ▼ 96.2% |
| Amounts payable after more than one year17 | - | - | €0.5m | - | - | - | - | - |
| Amounts payable within one year42/48 | €0.07m | €0.01m | €0.6m | €0.01m | €0.01m | €0.06m | €0.002m | ▼ 96.2% |
| Trade debts44 | €0.001m | €0.001m | €0.6m | - | €207 | €0.001m | €0.002m | ▲ 61.8% |
| Suppliers440/4 | - | - | - | - | €207 | €0.001m | €0.002m | ▲ 61.8% |
| Taxes, remuneration and social security45 | - | - | - | €0.01m | €0.01m | €0.003m | €421 | ▼ 85.7% |
| Taxes450/3 | - | - | - | €0.01m | €0.01m | €0.003m | €421 | ▼ 85.7% |
| Other amounts payable47/48 | - | - | - | - | - | €0.05m | €0 | ▼ 100% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €149,753 | €130,497 | €37,515 | €19,855 | €1,351 | €270 | €1,264 | ▲ 368% |
| + Depreciation and write-downs630 | €744 | - | - | - | - | - | - | - |
| Operating cash flow (approximation) | €150,497 | €130,497 | €37,515 | €19,855 | €1,351 | €270 | €1,264 | ▲ 368% |
| Change in cash | - | €520,912 | -€423,313 | -€226,210 | -€9,569 | -€13,369 | €65,931 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 17,041 companies had the same profile as ALFAPRO has now. Two years later, 94.4% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ALFAPRO itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 17,041 companies, not a prediction for ALFAPRO. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 31 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 06-01-2026 | 2026-00006334 | |
| 30-06-2024 | micro format | 10-01-2025 | 2025-00003487 | |
| 30-06-2023 | abbreviated format | 01-02-2024 | 2024-00021296 | |
| 30-06-2022 | abbreviated format | 10-01-2023 | 2023-20556212 | |
| 30-06-2021 | micro format | 31-01-2022 | 2022-03300481 | |
| 30-06-2020 | micro format | 04-01-2021 | 2021-00100254 | |
| 30-06-2019 | micro format | 23-12-2019 | 2019-77100459 | |
| 30-06-2018 | micro format | 21-02-2019 | 2019-05500565 | |
| 30-06-2017 | abbreviated format | 07-12-2017 | 2017-71300322 | |
| 30-06-2016 | abbreviated format | 20-12-2016 | 2016-70700469 |