EURAF
ActiveSummary
EURAF has been active since 1989 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €174k and a net result of €4k. Equity is shrinking by ~15% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability71=
Solvency100▲+5
Growth58=
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €15k at 30 days acceptable
Liquidity ample (current ratio 6.08 against 3.14 in 2023; short-term debt: 15.4% and cash: 92.9% of total assets), and 15.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four 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
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 27-06-2025, 34 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
not confirmed
2024
34 d early
2023
33 d early
2022
24 d early
2021
9 d early
2020
33 d early
2019
14 d early
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€174k▲ 2.3%
2023 · €170k
2018: €367k
2019: €515k▲ +40.1% vs 2018highest in 7 years
2020: €496k▼ -3.7% vs 2019
2021: €263k▼ -46.8% vs 2020
2022: €227k▼ -14.0% vs 2021
2023: €170k▼ -24.9% vs 2022lowest in 7 years
2024: €174k▲ +2.3% vs 2023
2018 → 2024
Total assets
€206k▼ 15.3%
2023 · €243k
2018: €400k
2019: €626k▲ +56.5% vs 2018highest in 7 years
2020: €505k▼ -19.3% vs 2019
2021: €285k▼ -43.6% vs 2020
2022: €241k▼ -15.3% vs 2021
2023: €243k▲ +0.7% vs 2022
2024: €206k▼ -15.3% vs 2023lowest in 7 years
2018 → 2024
Net result
€4k▲ 6.6%
2023 · €4k
2018: €-17k
2019: €147k▲ +956% vs 2018highest in 7 years
2020: €-19k▼ -113% vs 2019lowest in 7 years
2021: €29k▲ +252% vs 2020
2022: €-7k▼ -124% vs 2021
2023: €4k▲ +153% vs 2022
2024: €4k▲ +6.6% vs 2023
2018 → 2024
Working capital
€161k▲ 3.1%
2023 · €156k
2018: €-8klowest in 7 years
2019: €165k▲ +2210% vs 2018
2020: €159k▼ -3.5% vs 2019
2021: €257k▲ +61.5% vs 2020highest in 7 years
2022: €220k▼ -14.4% vs 2021
2023: €156k▼ -29.3% vs 2022
2024: €161k▲ +3.1% vs 2023
2018 → 2024
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€496k-€263k▼ 46.8%€227k▼ 14.0%€170k▼ 24.9%€174k▲ 2.3%
2020: €496khighest in 5 years
2021: €263k▼ -46.8% vs 2020
2022: €227k▼ -14.0% vs 2021
2023: €170k▼ -24.9% vs 2022lowest in 5 years
2024: €174k▲ +2.3% vs 2023
Operating result€-17k-€42k€-6k€3k€3k▼ 3.2%
2020: €-17klowest in 5 years
2021: €42k▲ +356% vs 2020highest in 5 years
2022: €-6k▼ -115% vs 2021
2023: €3k▲ +153% vs 2022
2024: €3k▼ -3.2% vs 2023
Net result€-19k-€29k€-7k€4k€4k▲ 6.6%
2020: €-19klowest in 5 years
2021: €29k▲ +252% vs 2020highest in 5 years
2022: €-7k▼ -124% vs 2021
2023: €4k▲ +153% vs 2022
2024: €4k▲ +6.6% vs 2023
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 falls in 2024; 2024 is 3% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €206k
Fixed assets
€13k ▼ 6.2%
Current assets
€192k ▼ 15.8%
Equity and liabilities €206k
Equity
€174k ▲ 2.3%
Debt
€32k ▼ 56.5%
Debt's share of the balance-sheet total falls from 29.9% to 15.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€4k▼
2023 · €4k
Cash flow
€5k▲
2023 · €4k
Current ratio
6.08▲
2023 · 3.14
Debt to equity
0.18▼
2023 · 0.43
ROE
2.3%▲
2023 · 2.2%
ROA
1.9%▲
2023 · 1.5%
Interest coverage
18.14▼
2023 · 25.16
Debt ≤ 1 year
€32k▼
2023 · €73k
Income taxes
€243
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 41 lines
Balance sheet
Code20232024
Assets
Total assets20/58€243k€206k▼
Fixed assets21/28€14k€13k▼
Tangible fixed assets22/27€14k€13k▼
Land and buildings22€14k€13k▼
Current assets29/58€228k€192k▼
Amounts receivable within one year40/41€155€357▲
Other amounts receivable41€155€357▲
Cash at bank and in hand54/58€228k€191k▼
Deferred charges and accrued income490/1€700€720▲
Equity and liabilities
Total equity and liabilities10/49€243k€206k▼
Equity10/15€170k€174k▲
Contributions10/11€62k€62k=
Capital10€62k€62k=
Issued capital100€62k€62k=
Reserves13€140k€140k=
Non-distributable reserves130/1€6k€6k=
Legal reserve130€6k€6k=
Distributable reserves133€134k€134k=
Profit (loss) carried forward14€-31k€-27k▲
Amounts payable17/49€73k€32k▼
Amounts payable within one year42/48€73k€32k▼
Trade debts44€921€0▼
Suppliers440/4€921€0▼
Other amounts payable47/48€72k€32k▼
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€797€899▲
Other operating charges640/8€996€760▼
Gross operating margin9900€5k€5k▼
Operating profit (loss)9901€3k€3k▼
Financial income75/76B€518€1k▲
Recurring financial income75€518€1k▲
Financial charges65/66B€164€227▲
Recurring financial charges65€164€227▲
Profit (loss) for the period before taxes9903€4k€4k▲
Income taxes67/77-€243
Profit (loss) for the period9904€4k€4k▲
Profit (loss) for the period to be appropriated9905€4k€4k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-31k€-27k▲
Profit (loss) brought forward from the previous period14P€-35k€-31k▲
Transfer from equity791/2€60k€0▼
Profit to be distributed694/7€60k€0▼
Return on contributions (dividend)694€60k€0▼
The notes to these accounts (3 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €78k | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13k | €8k | €0 | €797 | €899 | ▲ 12.8% |
| Other operating charges640/8 | - | €4k | €918 | €996 | €760 | ▼ 23.7% |
| Gross operating margin9900 | €-550 | €54k | €-5k | €5k | €5k | ▼ 4.7% |
| Operating profit (loss)9901 | €-17k | €42k | €-6k | €3k | €3k | ▼ 3.2% |
| Financial income75/76B | - | €130 | €0 | €518 | €1k | ▲ 127% |
| Recurring financial income75 | €63 | €130 | €0 | €518 | €1k | ▲ 127% |
| Financial charges65/66B | - | €744 | €748 | €164 | €227 | ▲ 38.5% |
| Recurring financial charges65 | €946 | €744 | €748 | €164 | €227 | ▲ 38.5% |
| Profit (loss) for the period before taxes9903 | €-17k | €42k | €-7k | €4k | €4k | ▲ 13.2% |
| Income taxes67/77 | €1k | €13k | €0 | - | €243 | - |
| Profit (loss) for the period9904 | €-19k | €29k | €-7k | €4k | €4k | ▲ 6.6% |
| Profit (loss) for the period to be appropriated9905 | €-19k | €29k | €-7k | €4k | €4k | ▲ 6.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €505k | €285k | €241k | €243k | €206k | ▼ 15.3% |
| Fixed assets21/28 | €336k | €6k | €6k | €14k | €13k | ▼ 6.2% |
| Tangible fixed assets22/27 | €336k | €6k | €6k | €14k | €13k | ▼ 6.2% |
| Land and buildings22 | - | €6k | €6k | €14k | €13k | ▼ 6.2% |
| Furniture and vehicles24 | - | €0 | - | - | - | - |
| Other tangible fixed assets26 | - | €0 | - | - | - | - |
| Current assets29/58 | €168k | €279k | €235k | €228k | €192k | ▼ 15.8% |
| Amounts receivable within one year40/41 | €57k | €12k | €0 | €155 | €357 | ▲ 130% |
| Other amounts receivable41 | - | €12k | €0 | €155 | €357 | ▲ 130% |
| Cash at bank and in hand54/58 | €110k | €266k | €234k | €228k | €191k | ▼ 16.0% |
| Deferred charges and accrued income490/1 | - | €562 | €661 | €700 | €720 | ▲ 2.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €505k | €285k | €241k | €243k | €206k | ▼ 15.3% |
| Equity10/15 | €496k | €263k | €227k | €170k | €174k | ▲ 2.3% |
| Contributions10/11 | €322k | €62k | €62k | €62k | €62k | = |
| Capital10 | - | €62k | €62k | €62k | €62k | = |
| Issued capital100 | - | €62k | €62k | €62k | €62k | = |
| Reserves13 | €236k | €230k | €200k | €140k | €140k | = |
| Non-distributable reserves130/1 | - | €6k | €6k | €6k | €6k | = |
| Legal reserve130 | - | €6k | €6k | €6k | €6k | = |
| Distributable reserves133 | - | €224k | €194k | €134k | €134k | = |
| Profit (loss) carried forward14 | €-62k | €-28k | €-35k | €-31k | €-27k | ▲ 12.6% |
| Amounts payable17/49 | €9k | €21k | €15k | €73k | €32k | ▼ 56.5% |
| Amounts payable within one year42/48 | €9k | €21k | €15k | €73k | €32k | ▼ 56.5% |
| Trade debts44 | €3k | €664 | €0 | €921 | €0 | ▼ 100% |
| Suppliers440/4 | - | €664 | €0 | €921 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | €15k | €0 | - | - | - |
| Taxes450/3 | - | €15k | €0 | - | - | - |
| Other amounts payable47/48 | - | €6k | €15k | €72k | €32k | ▼ 55.9% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-19k | €29k | €-7k | €4k | €4k | ▲ 6.6% |
| + Depreciation and write-downs630 | €13k | €8k | €0 | €797 | €899 | ▲ 12.8% |
| Operating cash flow (approximation) | €-6k | €36k | €-7k | €4k | €5k | ▲ 7.7% |
| Investment in fixed assets (approximation) | - | €322k | €0 | €-9k | €0 | ▲ 100% |
| Change in cash | - | €157k | €-32k | €-7k | €-36k | ▼ 437% |
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
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
28-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €4k
Net result €4k after one loss-making year.
07-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
22-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €29k
Net result €29k after one loss-making year.
28-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Weakest financial yearnet €-19k
Net result drops to €-19k, the lowest in the series; recovery starts the following year.
31-12
Financial
Liquidity times 8current ratio 18.93
Current ratio from 2.49 to 18.93; short-term debt falls from €111k to €9k.
17-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Back to profitnet €147k
Net result €147k after one loss-making year.
31-12
Financial
Liquidity quadruplescurrent ratio 2.49
Current ratio from 0.66 to 2.49.
Show earlier events
31-12
Financial
Equity above €500kEq €515k ▲40.1%
Equity rises from €367k to €515k.
19-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
25-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
2016
22-06
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 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, De Panne · 1 establishment unit since 1989
Ground area
993 m²
Building footprint
204 m²
Volume, LiDAR
780 m³
Parcel 38352D0514/00B000, Flanders · tallest building 6.9 m, ±1 floor. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Parnassialaan 21, 8660 De Panne
since 19892.186.667.535
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 38352D0514/00B000 | Flanders | 993 m² | 1 · 204 m² | 6.9 m · 1 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.
1 of these parcels carry protected heritage: expect extra rules on renovation or sale.
Identification & contact
Identification
Legal formPublic limited company
Founded14-07-1989
Fiscal year end31-12
Scores and ratios are computed by Checked and are not a credit decision.