AXFIN-B

Active

Private limited companyfounded 200422 yrs activeWestendelaan 271, 8434 Middelkerke, BelgiumKBO/BCE: BE 0863.313.262

AXFIN-B has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €314k and a net result of €155k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 31% of 8092 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).

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Checked score

Score 2024

78 / 100

Excellent

The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability89▲+3

Solvency59▲+5

Growth78=

Track record100

Bankruptcy probability, 12 months

0.2% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €24k at 30 days acceptable

Liquidity ample (current ratio 2.3 against 2.49 in 2023; short-term debt: 19% and cash: 7.7% of total assets), but 66.4% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Six signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 70

Relative position

BE, all sectors

reference

Sector 70

lower

← fewer bankruptcies more bankruptcies →

Multiple establishment units

Several establishment units mean more fixed costs, and such companies fail more often than a company with one establishment.

KBO · establishment units

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Growing equity

Reported equity is higher than in 2022 and did not fall compared with 2023. These amounts do not establish the cause of the change.

NBB · annual accounts 2024

Equity per financial year

1819202121222324

2018 to 2024 · latest year €314k

Latest accounts filed on time

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 08-05-2025, 84 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

not confirmed

2024

84 d early

2023

68 d early

2022

14 d early

2021

94 d early

2021

124 d early

2020

2 d early

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, abbreviated schema

Equity

€314k▲ 21.3%

2023 · €259k

2018: €-16k 2019: €-4k 2020: €15k 2021: €53k 2021: €16k 2022: €137k 2023: €259k

2018 → 2024

Total assets

€936k▲ 3.5%

2023 · €904k

2018: €842k 2019: €1.39M 2020: €1.30M 2021: €1.21M 2021: €1.07M 2022: €904k 2023: €904k

2018 → 2024

Net result

€155k▲ 27.7%

2023 · €122k

2018: €8k 2019: €12k 2020: €19k 2021: €38k 2021: €-37k 2022: €78k 2023: €122k

2018 → 2024

Working capital

€232k▼ 7.3%

2023 · €250k

2018: €88k 2019: €-128k 2020: €-56k 2021: €29k 2021: €-44k 2022: €135k 2023: €250k

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212021202220232024Trend

Equity€53k-€16k▼ 68.9%€137k▲ 733%€259k▲ 88.6%€314k▲ 21.3%

Operating result€81k-€-29k€129k€189k▲ 47.2%€235k▲ 24.4%

Net result€38k-€-37k€78k€122k▲ 56.1%€155k▲ 27.7%

Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.

Result per fiscal year

Operating resultNet result

Multiple fiscal year ends fall in the same calendar year; an annual trend is not displayed.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €936k

56.3%

43.7%

Fixed assets €526k▲ 8.0%

Current assets €409k▼ 1.8%

Equity and liabilities €936k

33.6%

66.4%

Equity €314k▲ 21.3%

Debt €622k▼ 3.7%

The debt ratio falls from 71.4% to 66.4%. Equity is higher and debt is lower.

Key figures and ratios

2024 value · change against 2023

EBITDA

€344k▲

2023 · €265k

Cash flow

€264k▲

2023 · €197k

Solvency

33.6%▲

2023 · 28.6%

Current ratio

2.30▼

2023 · 2.49

Quick ratio

2.30▼

2023 · 2.49

Debt / equity

1.98▼

2023 · 2.49

ROE

49.4%▲

2023 · 47.0%

ROA

16.6%▲

2023 · 13.4%

Interest coverage

37.30▲

2023 · 29.39

Debt

€622k▼

2023 · €645k

Debt ≤ 1 year

€178k▲

2023 · €167k

Debt > 1 year

€444k▼

2023 · €478k

Income taxes

€71k▲

2023 · €59k

Staff costs

€375k▲

2023 · €322k

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 · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€904k€936k▲

Fixed assets21/28€487k€526k▲

Intangible fixed assets21€209k€164k▼

Tangible fixed assets22/27€275k€358k▲

Land and buildings22€165k€143k▼

Plant, machinery and equipment23€9k€19k▲

Furniture and vehicles24€88k€173k▲

Other tangible fixed assets26€13k€23k▲

Financial fixed assets28€4k€4k=

Current assets29/58€417k€409k▼

Amounts receivable within one year40/41€339k€333k▼

Trade receivables40€58k€94k▲

Other amounts receivable41€280k€240k▼

Cash at bank and in hand54/58€75k€72k▼

Deferred charges and accrued income490/1€4k€4k▲

Equity and liabilities

Total equity and liabilities10/49€904k€936k▲

Equity10/15€259k€314k▲

Contributions10/11€61k€61k=

Reserves13€197k€253k▲

Non-distributable reserves130/1€2k€2k=

Reserves not available under the articles1311€2k€2k=

Tax-exempt reserves132€6k€6k=

Distributable reserves133€190k€245k▲

Amounts payable17/49€645k€622k▼

Amounts payable after more than one year17€478k€444k▼

Financial debts170/4€478k€444k▼

Amounts payable within one year42/48€167k€178k▲

Current portion of amounts payable after more than one year42€81k€98k▲

Trade debts44€13k€22k▲

Suppliers440/4€13k€22k▲

Taxes, remuneration and social security45€73k€57k▼

Taxes450/3€34k€21k▼

Remuneration and social security454/9€39k€37k▼

Income statement Code20232024

Remuneration, social security and pensions62€322k€375k▲

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€76k€109k▲

Other operating charges640/8€19k€8k▼

Non-recurring operating charges66A€7k-

Gross operating margin9900€612k€728k▲

Operating profit (loss)9901€189k€235k▲

Financial income75/76B€330€111▼

Recurring financial income75€330€111▼

Financial charges65/66B€9k€9k▲

Recurring financial charges65€9k€9k▲

Profit (loss) for the period before taxes9903€181k€226k▲

Income taxes67/77€59k€71k▲

Profit (loss) for the period9904€122k€155k▲

Profit (loss) for the period to be appropriated9905€122k€155k▲

Appropriation of the result

Profit (loss) to be appropriated9906€122k€155k▲

Transfer from equity791/2-€100k

Transfer to equity691/2€122k€155k▲

To other reserves6921€122k€155k▲

Profit to be distributed694/7-€100k

Return on contributions (dividend)694-€100k

Social balance

Average headcount (FTE)90874.65.3▲

The notes to these accounts (18 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 16Financial 6Filings 10

2025

08-05

NBB filing Annual accounts filed

fiscal year 2024 · abbreviated schema

2024

31-12

Financial Highest result since 2018net €155k ▲27.7%

Operating result €235k, net result €155k, both a record.

24-05

NBB filing Annual accounts filed

fiscal year 2023 · abbreviated schema

2023

31-12

Financial Equity above €200kEq €259k ▲88.6%

2 profitable years in a row build equity to €259k.

17-07

NBB filing Annual accounts filed

fiscal year 2022 · abbreviated schema

2022

31-12

Financial Back to profitnet €78k

Net result €78k after one loss-making year.

31-12

Financial Liquidity doublescurrent ratio 1.67

Current ratio from 0.74 to 1.67.

31-12

Financial Equity above €100kEq €137k ▲733%

Equity rises from €16k to €137k.

28-04

NBB filing Annual accounts filed

fiscal year 2021 · abbreviated schema

2021

31-12

Financial Weakest financial yearnet €-37k ▼196%

Net result drops to €-37k, the lowest in the series; recovery starts the following year.

27-12

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

28-04

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

2020

27-04

NBB filing Annual accounts filed

fiscal year 2019 · micro schema

2019

02-04

NBB filing Annual accounts filed

fiscal year 2018 · micro schema

2018

26-04

NBB filing Annual accounts filed

fiscal year 2017 · micro schema

2017

02-05

NBB filing Annual accounts filed

fiscal year 2016 · abbreviated schema · 2 days late

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

10 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, Middelkerke · 2 establishment units since 2011

establishment All 2 establishment units on the map

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.

Westendelaan 2718434 Middelkerke

Ground area

1,052 m²

Building footprint

741 m²

Volume, LiDAR

7,950 m³