ALPHA CLEAN
ActiveFinancials · financial year 2025, full format
2025 annual accounts filed 62 days after the deadline Filed on 1 October 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00544796.
Annual accounts 2025 filed on 01-10-2026 at the NBB all 35 filings
Turnover
€465,391▼ 8.8%
2023 · €510,100
EBIT margin
1.8%▲ 0.3pp
2023 · 1.5%
Net result
-€13,411
2024 · €4,152
Working capital
€64,349▼ 63.1%
2024 · €174,440
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
no figure
2025
20182025
Operating result
-€5,264
2025
20182025
Net result
-€13,411
2025
lowest quarter of the sector
20182025
EBIT margin
no figure
2025
20182025
Equity
€70,415
▼ 16.0%
2025
lowest quarter of the sector
20182025
Total assets
€233,434
▼ 2.6%
2025
lowest quarter of the sector
20182025
Debt
€163,020
▲ 270%
2025
20182025
Working capital
€64,349
▼ 63.1%
2025
middle half of the sector
20182025
Solvency
30.2%
▼ 4.8pp
2025
middle half of the sector
20182025
Current ratio
1.42
▼ 3.54
2025
middle half of the sector
20182025
Return on assets (ROA)
-5.7%
▼ 7.5pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
2
▼ 23.1%
2025
lowest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€448,070-€386,617▼ 13.7%€326,518▼ 15.5%€307,707▼ 5.8%€359,990▲ 17.0%€510,100▲ 41.7%€465,391▼ 8.8%
Operating result€12,434-€5,964▼ 52.0%-€11,448€20,904€7,546▼ 63.9%€7,607▲ 0.8%€8,311▲ 9.3%-€5,264
Net result€3,775-€1,838▼ 51.3%-€12,714below the sector's middle half€14,933within the sector's middle half€4,359within the sector's middle half▼ 70.8%€5,560within the sector's middle half▲ 27.6%€4,152within the sector's middle half▼ 25.3%-€13,411below the sector's middle half
EBIT margin2.8%-1.5%▼ 1.2pp-3.5%▼ 5.0pp6.8%▲ 10.3pp2.1%▼ 4.7pp1.5%▼ 0.6pp1.8%▲ 0.3pp
Equity€65,697-€67,535▲ 2.8%€54,821within the sector's middle half▼ 18.8%€69,754within the sector's middle half▲ 27.2%€74,113within the sector's middle half▲ 6.2%€79,673within the sector's middle half▲ 7.5%€83,825within the sector's middle half▲ 5.2%€70,415below the sector's middle half▼ 16.0%
Total assets€276,980-€246,102▼ 11.1%€294,334above the sector's middle half▲ 19.6%€245,211within the sector's middle half▼ 16.7%€250,667within the sector's middle half▲ 2.2%€280,625within the sector's middle half▲ 12.0%€239,683within the sector's middle half▼ 14.6%€233,434below the sector's middle half▼ 2.6%
Debt€99,449-€66,733▼ 32.9%€127,679▲ 91.3%€63,622▼ 50.2%€64,720▲ 1.7%€89,118▲ 37.7%€44,024▼ 50.6%€163,020▲ 270%
Working capital€164,065-€168,130▲ 2.5%€157,803above the sector's middle half▼ 6.1%€172,748above the sector's middle half▲ 9.5%€181,593above the sector's middle half▲ 5.1%€187,199above the sector's middle half▲ 3.1%€174,440above the sector's middle half▼ 6.8%€64,349within the sector's middle half▼ 63.1%
Solvency23.7%-27.4%▲ 3.7pp18.6%within the sector's middle half▼ 8.8pp28.4%within the sector's middle half▲ 9.8pp29.6%within the sector's middle half▲ 1.1pp28.4%within the sector's middle half▼ 1.2pp35.0%within the sector's middle half▲ 6.6pp30.2%within the sector's middle half▼ 4.8pp
Current ratio2.81-3.79▲ 0.982.28within the sector's middle half▼ 1.513.72above the sector's middle half▲ 1.433.81above the sector's middle half▲ 0.093.10above the sector's middle half▼ 0.714.96above the sector's middle half▲ 1.861.42within the sector's middle half▼ 3.54
Return on assets (ROA)1.4%-0.7%▼ 0.6pp-4.3%below the sector's middle half▼ 5.1pp6.1%within the sector's middle half▲ 10.4pp1.7%within the sector's middle half▼ 4.4pp2.0%within the sector's middle half▲ 0.2pp1.7%within the sector's middle half▼ 0.2pp-5.7%below the sector's middle half▼ 7.5pp
Staff (FTE)2.62.6=2.6=2.6=2below the sector's middle half▼ 23.1%
above
within
below
The sector band is the middle half of the companies in Services to buildings and landscape activities (NACE 81). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €5,264, after a profit of €8,311 in 2024. It is the lowest result since 2021.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €233,434
Fixed assets
€14,992 ▼ 29.3%
Current assets
€218,442 =
Equity and liabilities €233,434
Equity
€70,415 ▼ 16.0%
Provisions
€0 ▼ 100%
Debt
€163,020 ▲ 270%
Debt's share of the balance-sheet total rises from 18.4% to 69.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€4,243▼
2024 · €16,640
Cash flow
-€3,905▼
2024 · €12,481
Debt to equity
2.32▲
2024 · 0.53
ROE
-19.0%▼
2024 · 5.0%
Interest coverage
0.46▼
2024 · 10.46
Debt ≤ 1 year
€154,093▲
2024 · €44,024
Debt > 1 year
€8,927
Income taxes
-€1,024▼
2024 · €3,331
Staff costs
€118,132▲
2024 · €97,194
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 4 | 4 | 4 | 4 |
| full-time | 1 | 1 | 1 | 1 |
| part-time | 3 | 3 | 3 | 3 |
| in full-time equivalents | 2.6 | 2.6 | 2.6 | 2.6 |
| Average over the year, in full-time equivalents | - | 2.1 | 2.1 | 2.1 |
| On a permanent contract | 4 | 4 | 4 | 4 |
Source: social balance sheet in the 2021 to 2024 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | - | €25,241 | €3,280 |
| Depreciation and write-downs of the year | €4,487 | €4,487 | €46 | €8,330 | €9,507 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €448,070 | €386,617 | €326,518 | €307,707 | €359,990 | €510,100 | €465,391 | - | - |
| Non-recurring operating income76A | - | - | - | - | - | €463 | €2,401 | - | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €242,091 | €288,163 | €405,451 | €356,038 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €41,388 | €59,552 | €97,506 | €97,194 | €118,132 | ▲ 21.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €21,541 | €4,487 | €4,487 | €4,487 | €4,487 | €46 | €8,330 | €9,507 | ▲ 14.1% |
| Other operating charges640/8 | - | - | - | €1,976 | €243 | €2,843 | €809 | €2,942 | ▲ 264% |
| Gross operating margin9900 | €122,228 | €104,155 | €47,570 | €68,755 | €71,827 | €108,001 | €114,643 | €125,316 | ▲ 9.3% |
| Operating profit (loss)9901 | €12,434 | €5,964 | -€11,448 | €20,904 | €7,546 | €7,607 | €8,311 | -€5,264 | - |
| Financial income75/76B | - | - | - | €2,497 | €2,624 | €1,480 | €764 | €10 | ▼ 98.7% |
| Recurring financial income75 | €41 | €1 | €99 | €2,497 | €2,624 | €1,480 | €764 | €10 | ▼ 98.7% |
| Financial charges65/66B | - | - | - | €1,091 | €3,833 | €1,030 | €1,591 | €9,181 | ▲ 477% |
| Recurring financial charges65 | €1,875 | €1,232 | €914 | €1,091 | €3,833 | €1,030 | €1,591 | €9,181 | ▲ 477% |
| Profit (loss) for the period before taxes9903 | €10,600 | €4,732 | -€12,263 | €22,310 | €6,337 | €8,057 | €7,483 | -€14,435 | - |
| Income taxes67/77 | €6,825 | €2,894 | €451 | €7,377 | €1,978 | €2,497 | €3,331 | -€1,024 | - |
| Profit (loss) for the period9904 | €3,775 | €1,838 | -€12,714 | €14,933 | €4,359 | €5,560 | €4,152 | -€13,411 | - |
| Profit (loss) for the period to be appropriated9905 | €3,775 | €1,838 | -€12,714 | €14,933 | €4,359 | €5,560 | €4,152 | -€13,411 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €276,980 | €246,102 | €294,334 | €245,211 | €250,667 | €280,625 | €239,683 | €233,434 | ▼ 2.6% |
| Fixed assets21/28 | €22,300 | €17,814 | €13,327 | €8,840 | €4,354 | €4,308 | €21,219 | €14,992 | ▼ 29.3% |
| Tangible fixed assets22/27 | €17,993 | €13,506 | €9,019 | €4,532 | €46 | - | €16,911 | €10,684 | ▼ 36.8% |
| Plant, machinery and equipment23 | - | - | - | €2,200 | - | - | €461 | €1,802 | ▲ 291% |
| Furniture and vehicles24 | - | - | - | €2,332 | €46 | - | €16,450 | €8,882 | ▼ 46.0% |
| Financial fixed assets28 | €4,308 | €4,308 | €4,308 | €4,308 | €4,308 | €4,308 | €4,308 | €4,308 | = |
| Current assets29/58 | €254,679 | €228,288 | €281,007 | €236,370 | €246,314 | €276,317 | €218,464 | €218,442 | = |
| Stocks and contracts in progress3 | €1,560 | €2,171 | €2,055 | - | - | - | - | - | - |
| Amounts receivable within one year40/41 | €47,007 | €47,746 | €142,274 | €105,829 | €132,907 | €170,619 | €138,527 | €147,455 | ▲ 6.4% |
| Trade receivables40 | - | - | - | €15,075 | €45,936 | €145,487 | €120,942 | €127,757 | ▲ 5.6% |
| Other amounts receivable41 | - | - | - | €90,754 | €86,971 | €25,133 | €17,584 | €19,697 | ▲ 12.0% |
| Cash at bank and in hand54/58 | €206,112 | €178,371 | €136,679 | €130,541 | €113,407 | €105,698 | €79,937 | €70,677 | ▼ 11.6% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | - | €311 | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €276,980 | €246,102 | €294,334 | €245,211 | €250,667 | €280,625 | €239,683 | €233,434 | ▼ 2.6% |
| Equity10/15 | €65,697 | €67,535 | €54,821 | €69,754 | €74,113 | €79,673 | €83,825 | €70,415 | ▼ 16.0% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Contributions outside capital11 | - | - | - | - | - | - | - | €18,600 | - |
| Other1109/19 | - | - | - | - | - | - | - | €18,600 | - |
| Reserves13 | €35,483 | €35,483 | €35,483 | €35,483 | €35,483 | €35,483 | €35,483 | €35,483 | = |
| Non-distributable reserves130/1 | - | - | - | €1,851 | €1,851 | €1,851 | €1,851 | €1,851 | = |
| Reserves not available under the articles1311 | - | - | - | €1,851 | €1,851 | €1,851 | €1,851 | €1,851 | = |
| Tax-exempt reserves132 | - | - | - | €33,631 | €33,631 | €33,631 | €33,631 | €33,631 | = |
| Profit (loss) carried forward14 | €11,614 | €13,452 | €738 | €15,672 | €20,030 | €25,591 | €29,743 | €16,332 | ▼ 45.1% |
| Provisions and deferred taxes16 | €111,834 | €111,834 | €111,834 | €111,834 | €111,834 | €111,834 | €111,834 | - | - |
| Provisions for liabilities and charges160/5 | - | - | - | €111,834 | €111,834 | €111,834 | €111,834 | - | - |
| Pensions and similar obligations160 | - | - | - | €111,834 | €111,834 | €111,834 | €111,834 | - | - |
| Amounts payable17/49 | €99,449 | €66,733 | €127,679 | €63,622 | €64,720 | €89,118 | €44,024 | €163,020 | ▲ 270% |
| Amounts payable after more than one year17 | €8,835 | €6,575 | €4,475 | - | - | - | - | €8,927 | - |
| Financial debts170/4 | - | - | - | - | - | - | - | €8,927 | - |
| Amounts payable within one year42/48 | €90,614 | €60,158 | €123,204 | €63,622 | €64,720 | €89,118 | €44,024 | €154,093 | ▲ 250% |
| Current portion of amounts payable after more than one year42 | - | - | - | €4,427 | - | €2,747 | €18,595 | €7,107 | ▼ 61.8% |
| Trade debts44 | €41,486 | €20,973 | €114,709 | €51,900 | €54,533 | €32,123 | €11,564 | €18,495 | ▲ 59.9% |
| Suppliers440/4 | - | - | - | €51,900 | €54,533 | €32,123 | €11,564 | €18,495 | ▲ 59.9% |
| Taxes, remuneration and social security45 | - | - | - | €7,295 | €10,187 | €7,389 | €5,897 | €50,110 | ▲ 750% |
| Taxes450/3 | - | - | - | €7,295 | €10,187 | €7,389 | €5,897 | €27,889 | ▲ 373% |
| Remuneration and social security454/9 | - | - | - | - | - | - | - | €22,221 | - |
| Other amounts payable47/48 | - | - | - | - | - | €46,859 | €7,968 | €78,381 | ▲ 884% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,775 | €1,838 | -€12,714 | €14,933 | €4,359 | €5,560 | €4,152 | -€13,411 | - |
| + Depreciation and write-downs630 | €21,541 | €4,487 | €4,487 | €4,487 | €4,487 | €46 | €8,330 | €9,507 | ▲ 14.1% |
| Operating cash flow (approximation) | €25,317 | €6,325 | -€8,227 | €19,420 | €8,846 | €5,606 | €12,481 | -€3,905 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | -€25,241 | -€3,280 | ▲ 87.0% |
| Change in cash | - | -€27,741 | -€41,692 | -€6,137 | -€17,135 | -€7,708 | -€25,761 | -€9,261 | ▲ 64.1% |
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, 12,322 companies had the same profile as ALPHA CLEAN has now. Two years later, 90.3% were still going and 0.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
90.3%
was still going
8.6%
stopped otherwise
0.7%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of ALPHA CLEAN itself is higher: 1.5% within 12 months. It rests on far more data about ALPHA CLEAN than the profile alone.
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 12,322 companies, not a prediction for ALPHA CLEAN. 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 35 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 01-10-2026 | 2026-00544796 | |
| 31-12-2024 | micro format | 22-08-2025 | 2025-00400849 | |
| 31-12-2023 | micro format | 05-06-2024 | 2024-00111943 | |
| 31-12-2022 | micro format | 28-09-2023 | 2023-00464706 | |
| 31-12-2021 | micro format | 28-09-2022 | 2022-20441262 | |
| 31-12-2020 | micro format | 19-10-2021 | 2021-72400358 | |
| 31-12-2019 | micro format | 03-09-2020 | 2020-51200195 | |
| 31-12-2018 | micro format | 22-11-2019 | 2019-74100364 | |
| 31-12-2017 | micro format | 21-12-2018 | 2018-75600562 | |
| 31-12-2016 | micro format | 20-09-2017 | 2017-62300278 |