Summary
ALPHA RED is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2024 annual accounts show equity of €343,412 and a net result of -€16,448. Equity is growing by ~8.3% per year across the filed fiscal years. Its solvency ranks better than 23% of 9865 sector peers (fiscal year 2024). The company has been active since 1983 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The Checked score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
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Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 9865 sector peers (2024).
NBB · sector comparisonPosition among 9865 sector peers
Solvency
better than 23%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 07-07-2025, 24 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
24 d early
2023
5 d early
2022
35 d early
2021
4 d early
2020
4 d early
2019
30 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 17 days before the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 28% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
In the rankings
#1 oldest company in Kapellen, Finance and insurance sector
Equity
€343,412▼ 4.6%
2023 · €359,860
Net result
-€16,448▲ 23.8%
2023 · -€21,580
Total assets
€1.6m▲ 11.9%
2023 · €1.5m
Solvency
20.9%▼ 3.6pp
2023 · 24.6%
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€478€49,756▲ 10,317%€124,266▲ 150%-€7,849€3,102
Net result-€4,337▲ 90.9%€47,236€109,064▲ 131%-€21,580-€16,448▲ 23.8%
Equity€225,141▼ 1.9%€272,376▲ 21.0%€381,440▲ 40.0%€359,860▼ 5.7%€343,412▼ 4.6%
Total assets€1.3m▼ 6.2%€1.3m▼ 3.2%€1.3m▲ 4.0%€1.5m▲ 10.8%€1.6m▲ 11.9%
Debt€964,064▼ 6.5%€890,445▼ 7.6%€847,761▼ 4.8%€1.0m▲ 21.2%€1.2m▲ 20.1%
Working capital-€51,624▼ 22.1%-€18,556▲ 64.1%€91,024-€46,217-€405,542▼ 777%
Solvency17.1%▲ 0.7pp21.4%▲ 4.3pp28.8%▲ 7.4pp24.6%▼ 4.3pp20.9%▼ 3.6pp
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 returns to profit in 2024: €3,102 after a loss of €7,849 in 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €1.6m
Fixed assets
€1.6m ▲ 17.0%
Current assets
€44,339 ▼ 56.1%
Equity and liabilities €1.6m
Equity
€343,412 ▼ 4.6%
Provisions
€62,646 ▼ 19.9%
Debt
€1.2m ▲ 20.1%
Debt's share of the balance-sheet total rises from 70.1% to 75.2%. Equity is lower and debt is higher.
Key figures and ratios
ROE
-4.8%▲
2023 · -6.0%
ROA
-1.0%▲
2023 · -1.5%
Debt ≤ 1 year
€449,881▲
2023 · €147,128
Debt > 1 year
€775,819▼
2023 · €872,876
Income taxes
€3,459▲
2023 · €3,264
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €89,759 | €91,136 | €90,731 | €110,760 | €129,676 | ▲ 17.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €7,133 | - |
| Other operating charges640/8 | - | €9,378 | €9,747 | €12,794 | €15,074 | ▲ 17.8% |
| Non-recurring operating charges66A | - | €6,887 | - | - | - | - |
| Gross operating margin9900 | €102,287 | €157,156 | €224,744 | €115,704 | €154,984 | ▲ 33.9% |
| Operating profit (loss)9901 | €478 | €49,756 | €124,266 | -€7,849 | €3,102 | ▲ 140% |
| Financial income75/76B | - | €89 | €0 | €8 | - | - |
| Recurring financial income75 | €351 | €89 | €0 | €8 | - | - |
| Financial charges65/66B | - | €18,202 | €16,989 | €26,068 | €31,685 | ▲ 21.5% |
| Recurring financial charges65 | €20,759 | €18,202 | €16,989 | €26,068 | €31,685 | ▲ 21.5% |
| Profit (loss) for the period before taxes9903 | -€19,930 | €31,642 | €107,276 | -€33,909 | -€28,583 | ▲ 15.7% |
| Transfer from deferred taxes780 | - | €15,593 | €15,593 | €15,593 | €15,593 | = |
| Income taxes67/77 | - | - | €13,806 | €3,264 | €3,459 | ▲ 6.0% |
| Profit (loss) for the period9904 | -€4,337 | €47,236 | €109,064 | -€21,580 | -€16,448 | ▲ 23.8% |
| Transfer from tax-exempt reserves789 | - | €30,283 | €30,283 | €30,283 | €30,283 | = |
| Profit (loss) for the period to be appropriated9905 | €25,947 | €77,519 | €139,347 | €8,703 | €13,835 | ▲ 59.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.3m | €1.3m | €1.3m | €1.5m | €1.6m | ▲ 11.9% |
| Fixed assets21/28 | €1.3m | €1.2m | €1.1m | €1.4m | €1.6m | ▲ 17.0% |
| Tangible fixed assets22/27 | €1.2m | €1.1m | €1.0m | €1.3m | €1.5m | ▲ 17.7% |
| Land and buildings22 | - | €4,692 | €1,929 | - | - | - |
| Other tangible fixed assets26 | - | €1.1m | €1.0m | €1.3m | €1.5m | ▲ 17.7% |
| Financial fixed assets28 | €55,351 | €55,351 | €55,351 | €55,351 | €55,351 | = |
| Current assets29/58 | €41,876 | €80,046 | €221,564 | €100,910 | €44,339 | ▼ 56.1% |
| Amounts receivable within one year40/41 | €35,172 | €37,438 | €5,471 | €19,794 | €31,273 | ▲ 58.0% |
| Trade receivables40 | - | €21 | €471 | €3,058 | €14,683 | ▲ 380% |
| Other amounts receivable41 | - | €37,417 | €5,000 | €16,736 | €16,589 | ▼ 0.9% |
| Cash at bank and in hand54/58 | €4,929 | €40,697 | €213,939 | €78,837 | €10,671 | ▼ 86.5% |
| Deferred charges and accrued income490/1 | - | €1,912 | €2,154 | €2,279 | €2,395 | ▲ 5.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.3m | €1.3m | €1.3m | €1.5m | €1.6m | ▲ 11.9% |
| Equity10/15 | €225,141 | €272,376 | €381,440 | €359,860 | €343,412 | ▼ 4.6% |
| Contributions10/11 | - | €40,000 | €40,000 | €40,000 | €40,000 | = |
| Outside capital11 | - | €40,000 | €40,000 | €40,000 | €40,000 | = |
| Other1109/19 | - | €40,000 | €40,000 | €40,000 | €40,000 | = |
| Reserves13 | €362,935 | €332,652 | €341,440 | €319,860 | €289,577 | ▼ 9.5% |
| Non-distributable reserves130/1 | - | €3,718 | €3,718 | €3,718 | €3,718 | = |
| Reserves not available under the articles1311 | - | €3,718 | €3,718 | €3,718 | €3,718 | = |
| Tax-exempt reserves132 | - | €212,513 | €182,230 | €151,947 | €121,664 | ▼ 19.9% |
| Distributable reserves133 | - | €116,420 | €155,492 | €164,195 | €164,195 | = |
| Profit (loss) carried forward14 | -€177,794 | -€100,275 | - | - | €13,835 | - |
| Provisions and deferred taxes16 | €125,020 | €109,427 | €93,833 | €78,240 | €62,646 | ▼ 19.9% |
| Deferred taxes168 | - | €109,427 | €93,833 | €78,240 | €62,646 | ▼ 19.9% |
| Amounts payable17/49 | €964,064 | €890,445 | €847,761 | €1.0m | €1.2m | ▲ 20.1% |
| Amounts payable after more than one year17 | €864,210 | €789,194 | €712,295 | €872,876 | €775,819 | ▼ 11.1% |
| Financial debts170/4 | - | €789,194 | €712,295 | €872,876 | €775,819 | ▼ 11.1% |
| Amounts payable within one year42/48 | €93,500 | €98,602 | €130,540 | €147,128 | €449,881 | ▲ 206% |
| Current portion of amounts payable after more than one year42 | - | €75,016 | €76,618 | €95,086 | €99,039 | ▲ 4.2% |
| Financial debts43 | - | - | - | €25 | - | - |
| Credit institutions430/8 | - | - | - | €25 | - | - |
| Trade debts44 | €2,638 | €8,677 | €6,143 | €20,075 | €3,544 | ▼ 82.3% |
| Suppliers440/4 | - | €8,677 | €6,143 | €20,075 | €3,544 | ▼ 82.3% |
| Taxes, remuneration and social security45 | - | €6,139 | €34,398 | €11,969 | €14,988 | ▲ 25.2% |
| Taxes450/3 | - | - | €27,260 | €618 | €1,392 | ▲ 125% |
| Remuneration and social security454/9 | - | €6,139 | €7,139 | €11,351 | €13,595 | ▲ 19.8% |
| Other amounts payable47/48 | - | €8,771 | €13,381 | €19,973 | €332,310 | ▲ 1,564% |
| Accrued charges and deferred income492/3 | - | €2,649 | €4,926 | €7,517 | €8,842 | ▲ 17.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,337 | €47,236 | €109,064 | -€21,580 | -€16,448 | ▲ 23.8% |
| + Depreciation and write-downs630 | €89,759 | €91,136 | €90,731 | €110,760 | €129,676 | ▲ 17.1% |
| Operating cash flow (approximation) | €85,422 | €138,371 | €199,795 | €89,180 | €113,228 | ▲ 27.0% |
| Investment in fixed assets (approximation) | - | -€10,989 | €0 | -€373,999 | -€361,228 | ▲ 3.4% |
| Change in cash | - | €35,768 | €173,242 | -€135,101 | -€68,167 | ▲ 49.5% |
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
2025
07-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
26-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
26-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €109,064 ▲131%
Operating result €124,266, net result €109,064, both a record.
31-12
Financial
Liquidity doublescurrent ratio 1.70
Current ratio from 0.81 to 1.70.
27-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Back to profitnet €47,236
Net result €47,236 after 3 loss-making years.
27-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
01-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
27-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
27-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
05-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 6 acts read
About the unread acts
We know of 6 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
6 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, Kapellen · 1 establishment unit since 1983
Ground area
5,695 m²
Building footprint
505 m²
Volume, LiDAR
2,591 m³
Parcel 11023K0007/00X025, Flanders · tallest building 9.7 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
ALPHA RED
since 19832.022.226.405
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11023K0007/00X025 | Flanders | 5,695 m² | 1 · 505 m² | 9.7 m · 2 fl. |
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.
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Of 24,730 companies in sector 64210 we hold annual accounts for 19,772. 13,775 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
Founded28-03-1983
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
68203Renting and operating of own or leased non-residential real estate, excluding land
71209Other technical testing and analysis
82100Office administrative and support services
Scores and ratios are computed by Checked and are not a credit decision.