ALFIERO
ActiveALFIERO has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €444k and a net result of €-213k. Equity is growing by ~28.3% per year across the filed fiscal years. Its solvency ranks better than 28% of 793 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 1.1% (low).
Checked score
Score 2025
22
/ 100
Critical▼ -44 vs 2024
The score combines four axes. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability0▼-35
Solvency27▼-22
Growth52▼-26
Stability100
Bankruptcy probability, 12 months
1.1%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity tight (current ratio 1.19 against 1.36 in 2024), and 82.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
+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 10
Relative position
BE, all sectors
reference
Sector 10
higher
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 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 · 8 filingsDeviation from the deadline
2025
27 d late
2024
57 d late
2023
29 d late
2022
30 d late
2021
26 d late
2020
10 d late
2019
3 d late
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
13-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Turnover
€2.76M
EBIT margin
5.1%
Net result
€-213k
2024 · €46k
2018: €13k
2019: €18k
2020: €98k
2021: €187k
2022: €211k
2023: €95k
2024: €46k
2018 → 2025
Working capital
€174k▼ 28.1%
2024 · €242k
2018: €-38k
2019: €705
2020: €80k
2021: €171k
2022: €349k
2023: €223k
2024: €242k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€2.76M
Equity€298k-€514k▲ 72.7%€615k▲ 19.6%€659k▲ 7.1%€444k▼ 32.6%
Operating result€234k-€296k▲ 26.4%€141k▼ 52.4%€-24k€-203k▼ 757%
Net result€187k-€211k▲ 13.1%€95k▼ 55.2%€46k▼ 51.8%€-213k
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €203k in 2025 against €24k in 2024; the loss grows and 2025 is the lowest year so far.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.53M
Fixed assets
€1.46M▼ 5.8%
Current assets
€1.07M▲ 17.7%
Equity and liabilities €2.53M
Equity
€444k▼ 32.6%
Debt
€2.09M▲ 16.0%
The debt ratio rises from 73.2% to 82.5%: debt grows while equity shrinks.
Key figures and ratios
EBITDA
€22k▼
2024 · €188k
Cash flow
€12k▼
2024 · €258k
Solvency
17.5%▼
2024 · 26.8%
Current ratio
1.19▼
2024 · 1.36
Quick ratio
0.87▼
2024 · 0.92
Debt / equity
4.71▲
2024 · 2.73
ROE
-48.0%▼
2024 · 6.9%
ROA
-8.4%▼
2024 · 1.9%
Interest coverage
0.37▼
2024 · 3.81
Debt
€2.09M▲
2024 · €1.80M
Debt ≤ 1 year
€900k▲
2024 · €670k
Debt > 1 year
€1.19M▲
2024 · €1.13M
Staff costs
€685k▲
2024 · €603k
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€2.46M€2.53M▲
Fixed assets21/28€1.55M€1.46M▼
Tangible fixed assets22/27€1.55M€1.46M▼
Land and buildings22€771k€814k▲
Plant, machinery and equipment23€117k€110k▼
Furniture and vehicles24€13k€6k▼
Leasing and similar rights25€646k€529k▼
Current assets29/58€912k€1.07M▲
Stocks and contracts in progress3€296k€290k▼
Stocks30/36€296k€290k▼
Amounts receivable within one year40/41€84k€176k▲
Trade receivables40€55k€135k▲
Other amounts receivable41€29k€41k▲
Cash at bank and in hand54/58€412k€594k▲
Deferred charges and accrued income490/1€120k€13k▼
Equity and liabilities
Total equity and liabilities10/49€2.46M€2.53M▲
Equity10/15€659k€444k▼
Contributions10/11€19k€19k=
Reserves13€630€630=
Non-distributable reserves130/1€630-
Reserves not available under the articles1311€630-
Distributable reserves133-€630
Profit (loss) carried forward14€627k€414k▼
Investment grants15€13k€11k▼
Amounts payable17/49€1.80M€2.09M▲
Amounts payable after more than one year17€1.13M€1.19M▲
Financial debts170/4€1.13M€1.19M▲
Amounts payable within one year42/48€670k€900k▲
Current portion of amounts payable after more than one year42€252k€146k▼
Trade debts44€346k€634k▲
Suppliers440/4€346k€634k▲
Taxes, remuneration and social security45€72k€120k▲
Taxes450/3€8k€14k▲
Remuneration and social security454/9€64k€106k▲
Accrued charges and deferred income492/3-€2k
Income statement
Code20242025
Remuneration, social security and pensions62€603k€685k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€212k€225k▲
Other operating charges640/8€11k€23k▲
Gross operating margin9900€803k€731k▼
Operating profit (loss)9901€-24k€-203k▼
Financial income75/76B€119k€51k▼
Recurring financial income75€119k€51k▼
Financial charges65/66B€50k€61k▲
Recurring financial charges65€50k€61k▲
Profit (loss) for the period before taxes9903€46k€-213k▼
Income taxes67/77€226-
Profit (loss) for the period9904€46k€-213k▼
Profit (loss) for the period to be appropriated9905€46k€-213k▼
Appropriation of the result
Profit (loss) to be appropriated9906€627k€414k▼
Profit (loss) brought forward from the previous period14P€581k€627k▲
Social balance
Average headcount (FTE)908712.111.8▼
The notes to these accounts (15 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema · 27 days late
2025
31-12
Financial
Weakest financial yearnet €-213k ▼566%
Net result drops to €-213k, the lowest in the series.
26-09
NBB filing
Annual accounts filed
fiscal year 2024 · full schema · 57 days late
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 29 days late
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 30 days late
2022
31-12
Financial
Highest result since 2018net €211k ▲13.1%
Operating result €296k, net result €211k, both a record.
31-12
Financial
Equity above €500kEq €514k ▲72.7%
5 profitable years in a row build equity to €514k.
26-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 26 days late
2021
31-12
Financial
Equity above €200kEq €298k ▲102%
4 profitable years in a row build equity to €298k.
10-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 10 days late
2020
31-12
Financial
Equity above €100kEq €147k ▲243%
3 profitable years in a row build equity to €147k.
03-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 3 days late
2019
26-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 26 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
1 director, no change since 2022
OZTURK Serhat
CurrentManaging director · since 01-04-2022
01-04-2022
Appointed as Managing director
Location & real-estate footprint
Registered office, Seraing · 1 establishment unit since 2017
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.
Rue du Charbonnage 44+4100 SeraingGround area
991 m²
Building footprint
593 m²
Volume, LiDAR
3,084 m³
Parcel 62096A0288/00F006, Wallonia · tallest building 8.8 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
Rue du Charbonnage 44+, 4100 Seraing
since 20172.265.815.674
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 62096A0288/00F006 | Wallonia | 991 m² | 1 · 593 m² | 8.8 m · 2 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.
Recognitions · licences · registrations
Food safety, FASFC
1 siteSeraing2.265.815.674
Similar companies · same sector, comparable size
Copains Boulangerie
BE 0632.544.918
La Louvière · Eq €443k
BEAU PROJET
BE 0893.364.456
Nieuwpoort · Eq €436k
Hoornaert Invest
BE 0405.980.830
Kortrijk · Eq €454k
Daily Bread
BE 0881.279.642
Dessel · Eq €457k
LVCV
BE 0785.712.569
Harelbeke · Eq €424k
Of 506 companies in sector 10711 we hold annual accounts for 325. 210 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded28-06-2017
Fiscal year end31-12
Activities, NACEBEL
10711Manufacture of food products
10712Artisanal bread and fresh pastry making
47241Retail sale of bread and pastry (bakery outlets)
56102Limited-service restaurants
56112Limited-service restaurants, excluding mobile food services
Sources
Crossroads Bank for EnterprisesNational Bank · 8 filingsAddress and cadastre registers
Data from official sources, last processed on 13-09-2026. Scores and ratios are computed by Checked and are not a credit decision.