Summary
ALTERFIN is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €72.4m and a net result of €733,222. Equity remains stable across the filed fiscal years (±2.1% per year). Its solvency ranks better than 44% of 5565 sector peers (fiscal year 2025). The company has been active since 1994 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
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-04-2026, 95 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
95 d early
2024
95 d early
2023
100 d early
2022
98 d early
2021
89 d early
2020
95 d early
2019
56 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 90 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 (2)
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
In the rankings
#5 company by equity in Sint-Joost-ten-Node, Finance and insurance sector#8 company by total assets in Sint-Joost-ten-Node, Finance and insurance sector
Equity
€72.4m▼ 1.5%
2024 · €73.5m
Net result
€733,222▼ 12.6%
2024 · €839,033
Total assets
€164.3m▼ 2.5%
2024 · €168.6m
Solvency
44.1%▲ 0.5pp
2024 · 43.6%
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
Line20212022202320242025
Turnover€742,121▲ 30.3%€745,201▲ 0.4%€881,555▲ 18.3%€1.1m▲ 22.4%€1.1m▲ 4.7%
Operating result-€3.6m▼ 7.8%-€4.1m▼ 16.0%-€2.9m▲ 30.1%-€3.8m▼ 32.9%-€4.3m▼ 11.2%
Net result€1.0m▲ 151%€1.1m▲ 8.4%€832,245▼ 26.1%€839,033▲ 0.8%€733,222▼ 12.6%
Equity€69.8m▲ 3.0%€72.5m▲ 3.8%€73.1m▲ 0.8%€73.5m▲ 0.6%€72.4m▼ 1.5%
Total assets€134.1m▲ 6.6%€151.3m▲ 12.8%€165.6m▲ 9.4%€168.6m▲ 1.8%€164.3m▼ 2.5%
Debt€64.3m▲ 10.7%€78.9m▲ 22.6%€92.5m▲ 17.3%€95.1m▲ 2.8%€91.9m▼ 3.4%
Working capital€82.9m▲ 5.4%€78.4m▼ 5.4%€87.6m▲ 11.6%€88.2m▲ 0.7%€78.9m▼ 10.5%
Solvency52.0%▼ 1.8pp47.9%▼ 4.2pp44.1%▼ 3.7pp43.6%▼ 0.5pp44.1%▲ 0.5pp
Staff (FTE)19.1▼ 6.4%17.9▼ 6.3%19▲ 6.1%18.2▼ 4.2%18.6▲ 2.2%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Why a figure moved sharply
- 2021 Net result +151% on 2020. Cause not known from the registers.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €4.3m in 2025 against €3.8m in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €164.3m
Fixed assets
€3.5m ▼ 4.0%
Current assets
€160.8m ▼ 2.5%
Equity and liabilities €164.3m
Equity
€72.4m ▼ 1.5%
Provisions
€21,943
Debt
€91.9m ▼ 3.4%
Debt's share of the balance-sheet total falls from 56.4% to 55.9%. Equity and debt are lower.
Key figures and ratios
ROE
1.0%▼
2024 · 1.1%
ROA
0.4%▼
2024 · 0.5%
Debt ≤ 1 year
€82.0m▲
2024 · €76.8m
Debt > 1 year
€9.0m▼
2024 · €17.0m
Income taxes
€179,689▲
2024 · €174,156
Staff costs
€2.0m▲
2024 · €1.8m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Turnover70 | €742,121 | €745,201 | €881,555 | €1.1m | €1.1m | ▲ 4.7% |
| Non-recurring operating income76A | €41 | €124 | €41 | €1,172 | €94,970 | ▲ 8,001% |
| Goods, raw materials, services and sundry goods60/61 | €1.1m | €1.5m | €1.5m | €1.6m | €1.7m | ▲ 4.1% |
| Remuneration, social security and pensions62 | €1.5m | €1.6m | €1.8m | €1.8m | €2.0m | ▲ 8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €59,965 | €78,514 | €106,467 | €131,753 | €132,228 | ▲ 0.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €758,295 | €1.0m | -€1.3m | €878,449 | -€32,427 | ▼ 104% |
| Other operating charges640/8 | €845,030 | €656,249 | €1.8m | €674,072 | €1.8m | ▲ 162% |
| Non-recurring operating charges66A | €5,639 | - | - | - | - | - |
| Gross operating margin9900 | -€389,130 | -€770,094 | -€426,449 | -€338,316 | -€429,733 | ▼ 27.0% |
| Operating profit (loss)9901 | -€3.6m | -€4.1m | -€2.9m | -€3.8m | -€4.3m | ▼ 11.2% |
| Financial income75/76B | €8.1m | €10.8m | €7.8m | €9.9m | €8.8m | ▼ 10.9% |
| Recurring financial income75 | €8.1m | €10.7m | €7.8m | €9.9m | €8.8m | ▼ 10.9% |
| Non-recurring financial income76B | - | €51,247 | €5 | - | - | - |
| Financial charges65/66B | €3.3m | €5.3m | €3.9m | €5.1m | €3.7m | ▼ 27.9% |
| Recurring financial charges65 | €3.3m | €5.3m | €3.9m | €5.0m | €3.4m | ▼ 31.1% |
| Non-recurring financial charges66B | - | €1,997 | - | €75,376 | €214,991 | ▲ 185% |
| Profit (loss) for the period before taxes9903 | €1.2m | €1.3m | €977,856 | €1.0m | €912,911 | ▼ 9.9% |
| Income taxes67/77 | €190,832 | €220,098 | €145,611 | €174,156 | €179,689 | ▲ 3.2% |
| Profit (loss) for the period9904 | €1.0m | €1.1m | €832,245 | €839,033 | €733,222 | ▼ 12.6% |
| Transfer from tax-exempt reserves789 | - | - | €124,600 | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €1.0m | €1.1m | €956,845 | €839,033 | €733,222 | ▼ 12.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €134.1m | €151.3m | €165.6m | €168.6m | €164.3m | ▼ 2.5% |
| Fixed assets21/28 | €1.6m | €2.6m | €3.4m | €3.6m | €3.5m | ▼ 4.0% |
| Intangible fixed assets21 | €192,585 | €289,320 | €321,964 | €314,856 | €287,461 | ▼ 8.7% |
| Tangible fixed assets22/27 | €22,736 | €12,718 | €16,105 | €10,795 | €27,121 | ▲ 151% |
| Furniture and vehicles24 | €22,736 | €12,718 | €16,105 | €10,795 | €27,121 | ▲ 151% |
| Financial fixed assets28 | €1.3m | €2.3m | €3.1m | €3.3m | €3.2m | ▼ 4.0% |
| Current assets29/58 | €132.5m | €148.7m | €162.1m | €165.0m | €160.8m | ▼ 2.5% |
| Amounts receivable after more than one year29 | €41.2m | €52.1m | €65.3m | €64.5m | €48.5m | ▼ 24.8% |
| Other amounts receivable291 | €41.2m | €52.1m | €65.3m | €64.5m | €48.5m | ▼ 24.8% |
| Stocks and contracts in progress3 | €78,984 | €65,574 | €0 | - | - | - |
| Contracts in progress37 | €78,984 | €65,574 | €0 | - | - | - |
| Amounts receivable within one year40/41 | €28.2m | €26.9m | €28.1m | €35.5m | €44.2m | ▲ 24.6% |
| Trade receivables40 | €11,085 | €8,540 | €113,644 | €91,601 | €109,142 | ▲ 19.1% |
| Other amounts receivable41 | €28.2m | €26.9m | €28.0m | €35.4m | €44.1m | ▲ 24.6% |
| Current investments50/53 | €58.1m | €63.9m | €64.0m | €61.9m | €64.1m | ▲ 3.6% |
| Cash at bank and in hand54/58 | €3.0m | €3.6m | €2.4m | €86,474 | €1.3m | ▲ 1,347% |
| Deferred charges and accrued income490/1 | €1.9m | €2.2m | €2.3m | €3.0m | €2.8m | ▼ 7.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €134.1m | €151.3m | €165.6m | €168.6m | €164.3m | ▼ 2.5% |
| Equity10/15 | €69.8m | €72.5m | €73.1m | €73.5m | €72.4m | ▼ 1.5% |
| Contributions10/11 | €67.7m | €70.1m | €70.5m | €70.8m | €69.7m | ▼ 1.6% |
| Reserves13 | €2.1m | €2.4m | €2.5m | €2.7m | €2.7m | ▲ 1.4% |
| Non-distributable reserves130/1 | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Reserves not available under the articles1311 | €10,000 | €10,000 | €10,000 | €10,000 | €10,000 | = |
| Tax-exempt reserves132 | €124,600 | €124,600 | - | - | - | - |
| Distributable reserves133 | €2.0m | €2.3m | €2.5m | €2.7m | €2.7m | ▲ 1.4% |
| Investment grants15 | - | - | €6,723 | €4,413 | €2,107 | ▼ 52.3% |
| Provisions and deferred taxes16 | - | - | - | - | €21,943 | - |
| Provisions for liabilities and charges160/5 | - | - | - | - | €21,943 | - |
| Other liabilities and charges164/5 | - | - | - | - | €21,943 | - |
| Amounts payable17/49 | €64.3m | €78.9m | €92.5m | €95.1m | €91.9m | ▼ 3.4% |
| Amounts payable after more than one year17 | €13.6m | €7.7m | €16.9m | €17.0m | €9.0m | ▼ 47.3% |
| Financial debts170/4 | €13.6m | €7.7m | €16.9m | €17.0m | €9.0m | ▼ 47.3% |
| Amounts payable within one year42/48 | €49.6m | €70.3m | €74.6m | €76.8m | €82.0m | ▲ 6.7% |
| Current portion of amounts payable after more than one year42 | €623,671 | €6.5m | €214,187 | €1.8m | €6.3m | ▲ 239% |
| Financial debts43 | €47.0m | €61.0m | €72.1m | €71.6m | €72.6m | ▲ 1.4% |
| Credit institutions430/8 | €47.0m | €60.3m | €72.1m | €71.6m | €72.6m | ▲ 1.4% |
| Other loans439 | - | €720,000 | - | - | - | - |
| Trade debts44 | €481,072 | €436,187 | €352,508 | €425,937 | €416,918 | ▼ 2.1% |
| Suppliers440/4 | €481,072 | €436,187 | €352,508 | €425,937 | €416,918 | ▼ 2.1% |
| Taxes, remuneration and social security45 | €185,792 | €165,863 | €192,091 | €210,574 | €303,725 | ▲ 44.2% |
| Taxes450/3 | €17,267 | €1,044 | €3,960 | €14,003 | €138,557 | ▲ 889% |
| Remuneration and social security454/9 | €168,526 | €164,820 | €188,131 | €196,571 | €165,169 | ▼ 16.0% |
| Other amounts payable47/48 | €1.3m | €2.2m | €1.8m | €2.7m | €2.4m | ▼ 12.7% |
| Accrued charges and deferred income492/3 | €1.1m | €882,947 | €1.0m | €1.3m | €926,310 | ▼ 26.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1.0m | €1.1m | €832,245 | €839,033 | €733,222 | ▼ 12.6% |
| + Depreciation and write-downs630 | €59,965 | €78,514 | €106,467 | €131,753 | €132,228 | ▲ 0.4% |
| Operating cash flow (approximation) | €1.1m | €1.2m | €938,712 | €970,787 | €865,450 | ▼ 10.9% |
| Investment in fixed assets (approximation) | - | -€1.1m | -€942,112 | -€329,647 | €11,493 | ▲ 103% |
| Change in cash | - | €547,284 | -€1.2m | -€2.3m | €1.2m | ▲ 151% |
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
Next filing, fiscal year 2026, expected by
2026
27-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
27-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
22-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
24-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Highest result since 2018net €1.1m ▲8.4%
Net result €1.1m, the highest in the series.
03-05
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
27-04
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet €414,943 ▼47.1%
Net result drops to €414,943, the lowest in the series; recovery starts the following year.
05-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
03-04
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
26-03
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
30-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 20 acts read
About the unread acts
We know of 20 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
20 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-Joost-ten-Node · 1 establishment unit since 1994
Ground area
1,230 m²
Building footprint
1,052 m²
Volume, LiDAR
21,218 m³
Parcel 21572B0357/00L000, Brussels · tallest building 25.2 m, ±7 floors. Linked by address, not a title deed.
1 establishment unit
ALTERFIN
since 19942.069.236.266
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21572B0357/00L000 | Brussels | 1,230 m² | 1 · 1,052 m² | 25.2 m · 7 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.
Public money · subsidies and aid
Federal government
2023 to 2024 · 2 entries · 450,000 EUR in total| Year | Department | Transactions | Amount |
|---|---|---|---|
| 2024 | FOD Buitenlandse Zaken | 1 | 180,000 EUR |
| 2023 | FOD Buitenlandse Zaken | 1 | 270,000 EUR |
Recognitions · licences · registrations
Legal Entity Identifier
5493007UEXF0EDW8LO56
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Of 24,729 companies in sector 64210 we hold annual accounts for 19,773. 2,211 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formCooperative company
Founded16-11-1994
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
64999Other financial services
Contact
E-invoicing
Reachable via Peppol
Peppol ID
0208:0453804602
Registered
28-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.