GAFAR
ActiveGAFAR has been active since 2007 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €40k and a net result of €4k. Equity is shrinking by ~5.3% per year across the filed fiscal years. Its solvency ranks better than 91% of 18173 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.6% (low).
Checked score
Score 2025
81
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability87▲+87
Solvency100=
Growth38▲+16
Track record100
Bankruptcy probability, 12 months
0.6%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €1.5k at 30 days acceptable
Liquidity ample (current ratio 6.26 against 3.89 in 2024; short-term debt: 14.6% and cash: 8.5% of total assets), and 14.6% of the assets are financed with debt.
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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 47
Relative position
BE, all sectors
reference
Sector 47
higher
← fewer bankruptcies
more bankruptcies →
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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
85.4%
Return on assets
9.1%
Age of the figures
9 mo
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 04-08-2026, 4 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
4 d late
2024
69 d late
2023
210 d late
2022
122 d late
2021
86 d late
2020
26 d early
2019
33 d late
← before the deadline
after the deadline →
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
19-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Turnover
€18k▲ 24.3%
2024 · €14k
2018: €64k
2019: €34k
2023: €14k
2024: €14k
2018 → 2025
EBIT margin
26.1%▲ 94.7pp
2024 · -68.5%
2018: 4.2%
2019: -1.5%
2023: -65.3%
2024: -68.5%
2018 → 2025
Net result
€4k
2024 · €-11k
2018: €2k
2019: €784
2020: €7k
2021: €-3k
2022: €-3k
2023: €-10k
2024: €-11k
2018 → 2025
Working capital
€36k▲ 33.9%
2024 · €27k
2018: €55k
2019: €56k
2020: €62k
2021: €53k
2022: €52k
2023: €41k
2024: €27k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€14k€14k▲ 3.9%€18k▲ 24.3%
Equity€60k-€57k▼ 5.0%€47k▼ 18.4%€35k▼ 23.9%€40k▲ 11.9%
Operating result€-2k-€-2k▲ 13.6%€-9k▼ 381%€-10k▼ 9.1%€5k
Net result€-3k-€-3k▲ 0.5%€-10k▼ 250%€-11k▼ 6.0%€4k
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: €5k after a loss of €10k in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €46k
Fixed assets
€4k▼ 54.9%
Current assets
€42k▲ 18.3%
Equity and liabilities €46k
Equity
€40k▲ 11.9%
Debt
€7k▼ 26.6%
The debt ratio falls from 20.7% to 14.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€9k▲
2024 · €-4k
Cash flow
€9k▲
2024 · €-6k
Solvency
85.4%▲
2024 · 79.3%
Current ratio
6.26▲
2024 · 3.89
Quick ratio
6.08▲
2024 · 3.78
Debt / equity
0.17▼
2024 · 0.26
ROE
10.7%▲
2024 · -31.5%
ROA
9.1%▲
2024 · -25.0%
Interest coverage
6.40▲
2024 · -3.30
Debt
€7k▼
2024 · €9k
Debt ≤ 1 year
€7k▼
2024 · €9k
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 · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€45k€46k▲
Fixed assets21/28€9k€4k▼
Tangible fixed assets22/27€9k€4k▼
Furniture and vehicles24€9k€4k▼
Current assets29/58€36k€42k▲
Amounts receivable after more than one year29€26k€26k=
Trade receivables290€26k€26k=
Stocks and contracts in progress3€993€1k▲
Stocks30/36€993€1k▲
Amounts receivable within one year40/41€6k€10k▲
Trade receivables40€0-
Other amounts receivable41€6k€10k▲
Cash at bank and in hand54/58€116€4k▲
Deferred charges and accrued income490/1€2k€365▼
Equity and liabilities
Total equity and liabilities10/49€45k€46k▲
Equity10/15€35k€40k▲
Contributions10/11€12k€12k=
Reserves13€51k€51k=
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€49k€49k=
Profit (loss) carried forward14€-28k€-23k▲
Amounts payable17/49€9k€7k▼
Amounts payable within one year42/48€9k€7k▼
Current portion of amounts payable after more than one year42€3k-
Financial debts43€6k€7k▲
Credit institutions430/8€6k€7k▲
Trade debts44-€4
Suppliers440/4-€4
Taxes, remuneration and social security45€661-
Taxes450/3€661-
Other amounts payable47/48€60-
Income statement
Code20242025
Turnover70€14k€18k▲
Non-recurring operating income76A€3k€4k▲
Goods, raw materials, services and sundry goods60/61€21k€11k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€6k€5k▼
Other operating charges640/8€781€806▲
Gross operating margin9900€-4k€10k▲
Operating profit (loss)9901€-10k€5k▲
Financial income75/76B-€1k
Recurring financial income75-€1k
Financial charges65/66B€1k€1k▲
Recurring financial charges65€1k€1k▲
Profit (loss) for the period before taxes9903€-11k€4k▲
Profit (loss) for the period9904€-11k€4k▲
Profit (loss) for the period to be appropriated9905€-11k€4k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-28k€-23k▲
Profit (loss) brought forward from the previous period14P€-17k€-28k▼
The notes to these accounts (4 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
04-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 4 days late
2025
31-12
Financial
Back to profitnet €4k
Net result €4k after 4 loss-making years.
08-10
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 69 days late
26-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 210 days late
2024
31-12
Financial
Weakest financial yearnet €-11k
Net result drops to €-11k, the lowest in the series; recovery starts the following year.
2023
30-11
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 122 days late
2022
25-10
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 86 days late
2021
05-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
31-12
Financial
Highest result since 2018net €7k ▲808%
Operating result €9k, net result €7k, both a record.
31-12
Financial
Liquidity doublescurrent ratio 15.91
Current ratio from 7.00 to 15.91; short-term debt falls from €9k to €4k.
02-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 33 days late
2019
10-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
17-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
29-08
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 29 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
8 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, Gent · 1 establishment unit since 2007
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.
Jozef Van Crombrugghestraat 109000 GentGround area
79 m²
Building footprint
79 m²
Volume, LiDAR
421 m³
Parcel 44021A1826/00G002, Flanders · tallest building 12.2 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
GAFAR
since 20072.162.680.326
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44021A1826/00G002 | Flanders | 79 m² | 1 · 79 m² | 12.2 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteGent2.162.680.326
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L'ANTRE (BY VAUDREE)
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Of 1,508 companies in sector 47252 we hold annual accounts for 651. 430 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded16-05-2007
Fiscal year end31-12
Activities, NACEBEL
47252Retail sale of beverages, general range
46370Wholesale trade
47251Retail sale of wines and spirits
82100Office administrative and support services
82110Office administrative, office support and other business support activities
82990Other business support services
Sources
Crossroads Bank for EnterprisesNational Bank · 18 filingsAddress and cadastre registers
Data from official sources, last processed on 18-09-2026. Scores and ratios are computed by Checked and are not a credit decision.