ZAFFER RESEARCH and DEVELOPMENT
ActiveSummary
ZAFFER RESEARCH and DEVELOPMENT has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €41k and a net result of €-9k. Equity is growing by ~10.8% per year across the filed fiscal years. Its solvency ranks better than 42% of 11322 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
53
/ 100
Fair
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability57▼-14
Solvency57▼-13
Growth52=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €2k at 30 days acceptable
Liquidity short (current ratio 0.54 against 0.98 in 2024; short-term debt: 68% and cash: 6.6% of total assets), and 68% 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
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
Sector 46
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
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
32%
Return on assets
-7.2%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-07-2026, 21 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
21 d early
2024
26 d late
2023
15 d early
2022
26 d early
2021
31 d late
2020
66 d early
2019
65 d early
← before the deadline
after the deadline →
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.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€41k▼ 18.3%
2024 · €51k
2019: €3k
2020: €35k
2021: €29k
2022: €48k
2023: €48k
2024: €51k
2019 → 2025
Total assets
€129k▲ 15.4%
2024 · €112k
2019: €127k
2020: €154k
2021: €79k
2022: €112k
2023: €75k
2024: €112k
2019 → 2025
Net result
€-9k
2024 · €2k
2019: €18k
2020: €32k
2021: €-6k
2022: €19k
2023: €-135
2024: €2k
2019 → 2025
Working capital
€-41k▼ 2,665%
2024 · €-1k
2019: €-49k
2020: €-29k
2021: €-27k
2022: €7k
2023: €167
2024: €-1k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€29k-€48k▲ 67.9%€48k▼ 0.3%€51k▲ 5.1%€41k▼ 18.3%
Operating result€-355-€30k€3k▼ 91.2%€5k▲ 101%€-8k
Net result€-6k-€19k€-135€2k€-9k
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 turns negative in 2025: a loss of €8k after €5k in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €129k
Fixed assets
€82k ▲ 57.8%
Current assets
€47k ▼ 21.3%
Equity and liabilities €129k
Equity
€41k ▼ 18.3%
Debt
€88k ▲ 43.2%
Debt's share of the balance-sheet total rises from 54.8% to 68.0%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€25k▲
2024 · €23k
Cash flow
€24k▲
2024 · €20k
Current ratio
0.54▼
2024 · 0.98
Quick ratio
0.53▼
2024 · 0.97
Debt to equity
2.13▲
2024 · 1.21
ROE
-22.4%▼
2024 · 4.9%
ROA
-7.2%▼
2024 · 2.2%
Interest coverage
5.66▼
2024 · 12.63
Debt ≤ 1 year
€88k▲
2024 · €61k
Income taxes
€-2k
Staff costs
€113k▲
2024 · €65k
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 · 2025 against 2024 · 48 lines
Balance sheet
Code20242025
Assets
Total assets20/58€112k€129k▲
Fixed assets21/28€52k€82k▲
Intangible fixed assets21€14k€10k▼
Tangible fixed assets22/27€37k€71k▲
Plant, machinery and equipment23€37k€48k▲
Furniture and vehicles24€613€23k▲
Financial fixed assets28€554€554=
Current assets29/58€60k€47k▼
Stocks and contracts in progress3€100€100=
Stocks30/36€100€100=
Amounts receivable within one year40/41€43k€38k▼
Trade receivables40€15k€0▼
Other amounts receivable41€28k€38k▲
Cash at bank and in hand54/58€16k€8k▼
Equity and liabilities
Total equity and liabilities10/49€112k€129k▲
Equity10/15€51k€41k▼
Contributions10/11€20k€22k▲
Reserves13€2k-
Non-distributable reserves130/1€2k-
Reserves not available under the articles1311€2k-
Profit (loss) carried forward14€29k€19k▼
Amounts payable17/49€61k€88k▲
Amounts payable within one year42/48€61k€88k▲
Financial debts43€11k€51k▲
Credit institutions430/8€11k€51k▲
Trade debts44€30k€8k▼
Suppliers440/4€30k€8k▼
Taxes, remuneration and social security45€20k€29k▲
Taxes450/3€5k€7k▲
Remuneration and social security454/9€15k€22k▲
Income statement
Code20242025
Non-recurring operating income76A-€3k
Remuneration, social security and pensions62€65k€113k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€17k€33k▲
Other operating charges640/8€552€1k▲
Non-recurring operating charges66A€7k€0▼
Gross operating margin9900€95k€139k▲
Operating profit (loss)9901€5k€-8k▼
Financial income75/76B€60€1k▲
Recurring financial income75€60€1k▲
Financial charges65/66B€3k€4k▲
Recurring financial charges65€2k€4k▲
Non-recurring financial charges66B€1k-
Profit (loss) for the period before taxes9903€2k€-11k▼
Income taxes67/77-€-2k
Profit (loss) for the period9904€2k€-9k▼
Profit (loss) for the period to be appropriated9905€2k€-9k▼
Appropriation of the result
Profit (loss) to be appropriated9906€29k€19k▼
Profit (loss) brought forward from the previous period14P€26k€29k▲
The notes to these accounts (11 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
10-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet €-9k
Net result drops to €-9k, the lowest in the series.
26-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 26 days late
2024
31-12
Financial
Back to profitnet €2k
Net result €2k after one loss-making year.
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Back to profitnet €19k
Net result €19k after one loss-making year.
31-12
Financial
Liquidity doublescurrent ratio 1.12
Current ratio from 0.46 to 1.12.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 31 days late
2020
26-11
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
30-06
Financial
Highest result since 2019net €32k ▲79.2%
Operating result €46k, net result €32k, both a record.
2019
27-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
Show earlier events
17-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 167 days late
2018
04-01
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
16-11
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 5 acts read
About the unread acts
We know of 5 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
5 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, Zaventem · 1 establishment unit since 2010
Ground area
2.9 ha
Building footprint
1.5 ha
Volume, LiDAR
140,314 m³
Parcel 23057C0046/00T000, Flanders · tallest building 11.8 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
AIOM
since 20102.186.838.472
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23057C0046/00T000 | Flanders | 2.9 ha | 1 · 1.5 ha | 11.8 m · 3 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.
Similar companies · same sector, comparable size
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VALENTIN
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REVOLUSUN
BE 0864.565.849
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Of 1,246 companies in sector 46643 we hold annual accounts for 954. 426 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded12-03-2010
Fiscal year end31-12
Activities, NACEBEL 2025
46643Wholesale of electrical equipment, including installation materials
71121Engineering and related technical consultancy, excluding land surveyors
26110Manufacture of computer, electronic and optical products
27900Manufacture of electrical equipment
46500Wholesale of information and communication equipment
58290Other software publishing
62200Computer consultancy and computer facilities management
Sources
Crossroads Bank for EnterprisesNational Bank · 15 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.