ANFRI
ActiveSummary
ANFRI has been active since 1984 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€71,410) and a net result of €10,916. Equity is shrinking by ~16.9% per year across the filed fiscal years. Its solvency ranks better than 5% of 11547 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability100▲+100
Solvency0=
Growth58▲+26
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.48 against 0.14 in 2024; short-term debt: 203.4% and cash: 5.1% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
-382.4%
Return on assets
58.5%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 5% of 11547 sector peers (2025).
NBB · sector comparisonPosition among 11547 sector peers
Solvency
better than 5%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 31-08-2026, 31 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 · 10 filingsDeviation from the deadline
2025
31 d late
2024
3 d early
2023
61 d late
2022
325 d late
2021
31 d late
2020
31 d late
2019
81 d late
← 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 80 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% 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. Usually files around 31 August (4 of the last 5 filed years within 34 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€71,410▲ 13.3%
2024 · -€82,326
Total assets
€18,674▲ 233%
2024 · €5,603
Net result
€10,916
2024 · -€23,771
Working capital
-€19,823▲ 35.6%
2024 · -€30,759
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€10,500-€4,057▲ 61.4%-€13,963▼ 244%-€22,672▼ 62.4%€10,902
Net result-€11,324below the sector's middle half-€4,752below the sector's middle half▲ 58.0%-€14,885below the sector's middle half▼ 213%-€23,771below the sector's middle half▼ 59.7%€10,916within the sector's middle half
Equity-€38,918below the sector's middle half▼ 41.0%-€43,670below the sector's middle half▼ 12.2%-€58,555below the sector's middle half▼ 34.1%-€82,326below the sector's middle half▼ 40.6%-€71,410below the sector's middle half▲ 13.3%
Total assets€18,619below the sector's middle half▼ 31.8%€12,997below the sector's middle half▼ 30.2%€26,091below the sector's middle half▲ 101%€5,603below the sector's middle half▼ 78.5%€18,674below the sector's middle half▲ 233%
Debt€57,537▲ 4.8%€56,667▼ 1.5%€84,646▲ 49.4%€87,929▲ 3.9%€90,084▲ 2.5%
Working capital-€8,509below the sector's middle half▲ 72.9%-€13,062below the sector's middle half▼ 53.5%-€15,151below the sector's middle half▼ 16.0%-€30,759below the sector's middle half▼ 103%-€19,823below the sector's middle half▲ 35.6%
Solvency-209.0%below the sector's middle half▼ 108.0pp-336.0%below the sector's middle half▼ 127.0pp-224.4%below the sector's middle half▲ 111.6pp-382.4%below the sector's middle half
Current ratio0.57below the sector's middle half▲ 0.220.41below the sector's middle half▼ 0.170.62below the sector's middle half▲ 0.220.14below the sector's middle half▼ 0.480.48below the sector's middle half▲ 0.34
Return on assets (ROA)-60.8%below the sector's middle half▼ 97.5pp-36.6%below the sector's middle half▲ 24.3pp-57.1%below the sector's middle half▼ 20.5pp-424.2%below the sector's middle half▼ 367.2pp58.5%above the sector's middle half▲ 482.7pp
Staff (FTE)1▲ 100%1=1=1=
above
within
below
the middle half (P25 to P75) of NACE 46, Wholesale trade, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €10,902 after a loss of €22,672 in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €18,674
Fixed assets
€514 ▼ 3.7%
Current assets
€18,160 ▲ 258%
Key figures and ratios
EBITDA
€10,922▲
2024 · -€22,342
Cash flow
€10,936▲
2024 · -€23,442
Debt to equity
-1.26▼
2024 · -1.07
Interest coverage
20.10▲
2024 · -29.03
Debt ≤ 1 year
€37,983▲
2024 · €35,829
Debt > 1 year
€52,101=
2024 · €52,101
Income taxes
€0▼
2024 · €371
Staff costs
€0▼
2024 · €29,616
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,795 companies that looked in July 2024 the way this one looks now, 2.7% went bankrupt within 24 months and 92% are still going.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
2.7%
went bankrupt
5.3%
stopped otherwise
92%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.6% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 3,795 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €0 | - | - | - | - | - |
| Remuneration, social security and pensions62 | €18,348 | €25,759 | €33,669 | €29,616 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,564 | €3,142 | €3,128 | €330 | €20 | ▼ 94.0% |
| Other operating charges640/8 | €1,029 | €1,191 | €1,551 | €1,062 | €1,068 | ▲ 0.5% |
| Gross operating margin9900 | €12,440 | €26,035 | €24,385 | €8,336 | €11,990 | ▲ 43.8% |
| Operating profit (loss)9901 | -€10,500 | -€4,057 | -€13,963 | -€22,672 | €10,902 | ▲ 148% |
| Financial income75/76B | €18 | €0 | €15 | €41 | €558 | ▲ 1,271% |
| Recurring financial income75 | €18 | €0 | €15 | €41 | €558 | ▲ 1,271% |
| Financial charges65/66B | €721 | €695 | €762 | €770 | €543 | ▼ 29.4% |
| Recurring financial charges65 | €721 | €695 | €762 | €770 | €543 | ▼ 29.4% |
| Profit (loss) for the period before taxes9903 | -€11,203 | -€4,752 | -€14,710 | -€23,401 | €10,916 | ▲ 147% |
| Income taxes67/77 | €121 | €0 | €175 | €371 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | -€11,324 | -€4,752 | -€14,885 | -€23,771 | €10,916 | ▲ 146% |
| Profit (loss) for the period to be appropriated9905 | -€11,324 | -€4,752 | -€14,885 | -€23,771 | €10,916 | ▲ 146% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €18,619 | €12,997 | €26,091 | €5,603 | €18,674 | ▲ 233% |
| Fixed assets21/28 | €7,133 | €3,991 | €863 | €534 | €514 | ▼ 3.7% |
| Tangible fixed assets22/27 | €6,733 | €3,591 | €463 | €134 | €114 | ▼ 14.8% |
| Plant, machinery and equipment23 | €613 | €349 | €0 | - | - | - |
| Furniture and vehicles24 | €6,120 | €3,242 | €463 | €134 | €114 | ▼ 14.8% |
| Financial fixed assets28 | €400 | €400 | €400 | €400 | €400 | = |
| Current assets29/58 | €11,486 | €9,006 | €25,228 | €5,070 | €18,160 | ▲ 258% |
| Amounts receivable within one year40/41 | €3,775 | €4,076 | €22,304 | €5,070 | €17,202 | ▲ 239% |
| Trade receivables40 | €3,747 | €3,419 | €21,723 | €4,542 | €0 | ▼ 100% |
| Other amounts receivable41 | €28 | €656 | €582 | €528 | €17,202 | ▲ 3,159% |
| Cash at bank and in hand54/58 | €7,712 | €4,930 | €2,923 | €0 | €959 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €18,619 | €12,997 | €26,091 | €5,603 | €18,674 | ▲ 233% |
| Equity10/15 | -€38,918 | -€43,670 | -€58,555 | -€82,326 | -€71,410 | ▲ 13.3% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €24,618 | €24,618 | €24,618 | €24,618 | €24,618 | = |
| Non-distributable reserves130/1 | €1,859 | €1,859 | €0 | - | - | - |
| Reserves not available under the articles1311 | €1,859 | €1,859 | €0 | - | - | - |
| Distributable reserves133 | €22,758 | €22,758 | €24,618 | €24,618 | €24,618 | = |
| Profit (loss) carried forward14 | -€82,127 | -€86,879 | -€101,765 | -€125,536 | -€114,620 | ▲ 8.7% |
| Amounts payable17/49 | €57,537 | €56,667 | €84,646 | €87,929 | €90,084 | ▲ 2.5% |
| Amounts payable after more than one year17 | €37,541 | €34,599 | €44,267 | €52,101 | €52,101 | = |
| Financial debts170/4 | €3,441 | €499 | €0 | - | - | - |
| Other amounts payable178/9 | €34,100 | €34,100 | €44,267 | €52,101 | €52,101 | = |
| Amounts payable within one year42/48 | €19,996 | €22,068 | €40,379 | €35,829 | €37,983 | ▲ 6.0% |
| Current portion of amounts payable after more than one year42 | €2,857 | €2,942 | €499 | €0 | - | - |
| Financial debts43 | - | - | - | €1,352 | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | €1,352 | €0 | ▼ 100% |
| Trade debts44 | €11,108 | €9,607 | €8,171 | €4,646 | €252 | ▼ 94.6% |
| Suppliers440/4 | €11,108 | €9,607 | €8,171 | €4,646 | €252 | ▼ 94.6% |
| Advances received on contracts in progress46 | - | - | €6,399 | €906 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | €6,031 | €9,519 | €8,204 | €1,308 | €777 | ▼ 40.7% |
| Taxes450/3 | €2,528 | €2,020 | €1,942 | €1,308 | €777 | ▼ 40.7% |
| Remuneration and social security454/9 | €3,503 | €7,498 | €6,262 | €0 | - | - |
| Other amounts payable47/48 | €0 | - | €17,106 | €27,616 | €36,955 | ▲ 33.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€11,324 | -€4,752 | -€14,885 | -€23,771 | €10,916 | ▲ 146% |
| + Depreciation and write-downs630 | €3,564 | €3,142 | €3,128 | €330 | €20 | ▼ 94.0% |
| Operating cash flow (approximation) | -€7,760 | -€1,610 | -€11,757 | -€23,442 | €10,936 | ▲ 147% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | - |
| Change in cash | - | -€2,782 | -€2,007 | -€2,923 | €959 | ▲ 133% |
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
31-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 31 days late
2025
31-12
Financial
Back to profitnet €10,916
Net result €10,916 after 4 loss-making years.
28-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet -€23,771
Net result drops to -€23,771, the lowest in the series; recovery starts the following year.
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
20-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 325 days late
2022
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 31 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 31 days late
2020
31-12
Financial
Back to profitnet €10,025
Net result €10,025 after one loss-making year.
20-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 81 days late
2019
28-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 28 days late
2018
28-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 59 days late
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Antwerpen · 1 establishment unit since 1984
Ground area
186 m²
Building footprint
91 m²
Volume, LiDAR
786 m³
Parcel 11809I2105/00L004, Flanders · tallest building 15.0 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Ryckmansstraat 4, 2020 Antwerpen
since 19842.025.251.419
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11809I2105/00L004 | Flanders | 186 m² | 1 · 91 m² | 15.0 m · 3 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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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 1,567 companies in sector 46900 we hold annual accounts for 920. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded09-07-1984
Fiscal year end31-12
Activities, NACEBEL 2025
46900Non-specialised wholesale trade
E-invoicing
Reachable via Peppol
Peppol ID
0208:0426191769
Also
9925:BE0426191769
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.