Summary
BRFinance 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 €25,511 and a net result of -€18,233. Equity is shrinking by ~11.2% per year across the filed fiscal years. Its solvency ranks better than 52% of 2463 sector peers (fiscal year 2025). The company has been active since 1987 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 · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 02-02-2026, 2 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
2 d late
2024
4 d late
2023
1 d late
2022
on the day
2021
on the day
2020
30 d late
2019
16 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 3 days after the deadline; the sector median for financial year 2024 is 5 days before the deadline, and 38% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today. Usually files around 1 February (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-06-2026 close28-09-2026 today31-01-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€25,511▼ 41.7%
2024 · €43,744
Net result
-€18,233▼ 1,414%
2024 · -€1,204
Total assets
€48,967▼ 25.3%
2024 · €65,595
Solvency
52.1%▼ 14.6pp
2024 · 66.7%
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 66, Activities auxiliary to financial services and insurance activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€17,619▲ 594%-€7,138-€18,026▼ 153%-€374▲ 97.9%-€17,406▼ 4,559%
Net result€17,160within the sector's middle half▲ 715%-€8,082below the sector's middle half-€18,866below the sector's middle half▼ 133%-€1,204below the sector's middle half▲ 93.6%-€18,233below the sector's middle half▼ 1,414%
Equity€71,897within the sector's middle half▲ 31.3%€63,815within the sector's middle half▼ 11.2%€44,949within the sector's middle half▼ 29.6%€43,744within the sector's middle half▼ 2.7%€25,511below the sector's middle half▼ 41.7%
Total assets€77,050below the sector's middle half▲ 34.3%€74,874below the sector's middle half▼ 2.8%€70,203below the sector's middle half▼ 6.2%€65,595below the sector's middle half▼ 6.6%€48,967below the sector's middle half▼ 25.3%
Debt€5,153▲ 96.8%€11,059▲ 115%€25,254▲ 128%€21,850▼ 13.5%€23,456▲ 7.3%
Working capital€69,152within the sector's middle half▲ 27.4%€33,003within the sector's middle half▼ 52.3%€19,831within the sector's middle half▼ 39.9%€25,906within the sector's middle half▲ 30.6%€16,186within the sector's middle half▼ 37.5%
Solvency93.3%above the sector's middle half▼ 2.1pp85.2%above the sector's middle half▼ 8.1pp64.0%within the sector's middle half▼ 21.2pp66.7%within the sector's middle half▲ 2.7pp52.1%within the sector's middle half▼ 14.6pp
Current ratio14.42above the sector's middle half▼ 7.313.98within the sector's middle half▼ 10.441.79within the sector's middle half▼ 2.202.19within the sector's middle half▲ 0.401.69within the sector's middle half▼ 0.50
Return on assets (ROA)22.3%above the sector's middle half▲ 18.6pp-10.8%below the sector's middle half▼ 33.1pp-26.9%below the sector's middle half▼ 16.1pp-1.8%below the sector's middle half▲ 25.0pp-37.2%below the sector's middle half▼ 35.4pp
above
within
below
the middle half (P25 to P75) of NACE 66, Activities auxiliary to financial services and insurance activities, 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 stays negative: a loss of €17,406 in 2025 against €374 in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €48,967
Fixed assets
€9,326 ▼ 47.7%
Current assets
€39,641 ▼ 17.0%
Equity and liabilities €48,967
Equity
€25,511 ▼ 41.7%
Debt
€23,456 ▲ 7.3%
Debt's share of the balance-sheet total rises from 33.3% to 47.9%. Equity is lower and debt is higher.
Key figures and ratios
ROE
-71.5%▼
2024 · -2.8%
Debt ≤ 1 year
€23,456▲
2024 · €21,850
Income taxes
€196▲
2024 · €192
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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €448 | €6,933 | €8,208 | €8,736 | €8,513 | ▼ 2.5% |
| Other operating charges640/8 | - | €795 | €302 | €764 | €778 | ▲ 1.8% |
| Gross operating margin9900 | €18,527 | €589 | -€9,515 | €9,126 | -€8,115 | ▼ 189% |
| Operating profit (loss)9901 | €17,619 | -€7,138 | -€18,026 | -€374 | -€17,406 | ▼ 4,559% |
| Financial income75/76B | - | €7 | - | €8 | €6 | ▼ 33.0% |
| Recurring financial income75 | - | €7 | - | €8 | €6 | ▼ 33.0% |
| Financial charges65/66B | - | €772 | €645 | €647 | €636 | ▼ 1.6% |
| Recurring financial charges65 | €460 | €772 | €645 | €647 | €636 | ▼ 1.6% |
| Profit (loss) for the period before taxes9903 | €17,160 | -€7,904 | -€18,671 | -€1,012 | -€18,037 | ▼ 1,683% |
| Income taxes67/77 | - | €178 | €195 | €192 | €196 | ▲ 1.8% |
| Profit (loss) for the period9904 | €17,160 | -€8,082 | -€18,866 | -€1,204 | -€18,233 | ▼ 1,414% |
| Profit (loss) for the period to be appropriated9905 | €17,160 | -€8,082 | -€18,866 | -€1,204 | -€18,233 | ▼ 1,414% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €77,050 | €74,874 | €70,203 | €65,595 | €48,967 | ▼ 25.3% |
| Fixed assets21/28 | €2,745 | €30,812 | €25,117 | €17,839 | €9,326 | ▼ 47.7% |
| Tangible fixed assets22/27 | €2,745 | €30,812 | €25,117 | €17,839 | €9,326 | ▼ 47.7% |
| Plant, machinery and equipment23 | - | €718 | €528 | €339 | €149 | ▼ 56.1% |
| Furniture and vehicles24 | - | €30,094 | €24,589 | €17,500 | €9,177 | ▼ 47.6% |
| Current assets29/58 | €74,305 | €44,061 | €45,086 | €47,756 | €39,641 | ▼ 17.0% |
| Amounts receivable within one year40/41 | €60,061 | €36,491 | €37,821 | €39,044 | €32,956 | ▼ 15.6% |
| Trade receivables40 | - | €8,786 | €9,944 | €9,417 | €4,329 | ▼ 54.0% |
| Other amounts receivable41 | - | €27,705 | €27,877 | €29,627 | €28,627 | ▼ 3.4% |
| Cash at bank and in hand54/58 | €14,244 | €7,571 | €7,265 | €8,350 | €6,186 | ▼ 25.9% |
| Deferred charges and accrued income490/1 | - | - | - | €362 | €499 | ▲ 37.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €77,050 | €74,874 | €70,203 | €65,595 | €48,967 | ▼ 25.3% |
| Equity10/15 | €71,897 | €63,815 | €44,949 | €43,744 | €25,511 | ▼ 41.7% |
| Contributions10/11 | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €53,305 | €45,223 | €26,357 | €25,152 | €6,919 | ▼ 72.5% |
| Non-distributable reserves130/1 | - | €1,859 | €1,859 | - | - | - |
| Reserves not available under the articles1311 | - | €1,859 | €1,859 | - | - | - |
| Distributable reserves133 | - | €43,364 | €24,498 | €25,152 | €6,919 | ▼ 72.5% |
| Amounts payable17/49 | €5,153 | €11,059 | €25,254 | €21,850 | €23,456 | ▲ 7.3% |
| Amounts payable within one year42/48 | €5,153 | €11,059 | €25,254 | €21,850 | €23,456 | ▲ 7.3% |
| Financial debts43 | - | €882 | €4,327 | €477 | €715 | ▲ 50.0% |
| Credit institutions430/8 | - | €882 | €4,327 | €477 | €715 | ▲ 50.0% |
| Trade debts44 | €4,150 | €3,532 | €3,960 | €3,093 | €3,820 | ▲ 23.5% |
| Suppliers440/4 | - | €1,918 | €3,960 | €3,093 | €3,820 | ▲ 23.5% |
| Bills of exchange payable441 | - | €1,615 | - | - | - | - |
| Taxes, remuneration and social security45 | - | €178 | €195 | €192 | €196 | ▲ 1.8% |
| Taxes450/3 | - | €178 | €195 | €192 | €196 | ▲ 1.8% |
| Other amounts payable47/48 | - | €6,467 | €16,772 | €18,088 | €18,724 | ▲ 3.5% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €17,160 | -€8,082 | -€18,866 | -€1,204 | -€18,233 | ▼ 1,414% |
| + Depreciation and write-downs630 | €448 | €6,933 | €8,208 | €8,736 | €8,513 | ▼ 2.5% |
| Operating cash flow (approximation) | €17,608 | -€1,149 | -€10,658 | €7,531 | -€9,720 | ▼ 229% |
| Investment in fixed assets (approximation) | - | -€35,000 | -€2,513 | -€1,457 | €0 | ▲ 100% |
| Change in cash | - | -€6,674 | -€306 | €1,085 | -€2,164 | ▼ 299% |
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
02-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 2 days late
2025
04-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 4 days late
2024
01-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 1 day late
2023
30-06
Financial
Weakest financial yearnet -€18,866
Net result drops to -€18,866, the lowest in the series; recovery starts the following year.
31-01
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-01
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
30-06
Financial
Highest result since 2019net €17,160 ▲715%
Operating result €17,619, net result €17,160, both a record.
02-03
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 30 days late
2020
15-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
14-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
15-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
16-01
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 7 acts read
About the unread acts
We know of 7 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
7 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, Tessenderlo-Ham · 2 establishment units since 1987
Ground area
1,153 m²
Building footprint
332 m²
Volume, LiDAR
2,334 m³
2 parcels, Flanders · tallest building 10.3 m, ±3 floors. Linked by address, not a title deed.
2 establishment units
B.R.F.
since 19872.031.370.535
B.R.F.
since 20122.207.156.212
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 71057A0254/00L000 | Flanders | 963 m² | 1 · 153 m² | 9.5 m · 2 fl. |
| 71057A0425/00N019 | Flanders | 190 m² | 1 · 180 m² | 10.3 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 3 entries · 2,554 EUR awarded · 2,554 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 60 EUR | 60 EUR |
| 2023 | 1 | 2,448 EUR | 2,448 EUR |
| 2022 | 1 | 46 EUR | 46 EUR |
Recognitions · licences · registrations
Legal Entity Identifier
98450051D45D72CBC444
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Of 1,682 companies in sector 66191 we hold annual accounts for 1,230. 638 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
Founded15-05-1987
Fiscal year end30-06
Activities, NACEBEL 2025
66191Agents and brokers in banking services
66199Other activities auxiliary to financial services, excluding insurance and pension funding
E-invoicing
Reachable via Peppol
Peppol ID
0208:0431209936
Also
9925:BE0431209936
Registered
15-07-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.