Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 47 % of short-term debt in 2025; threshold 65 %.
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Not on Peppol Peppol
Not registered in the Peppol network, mandatory for VAT-liable companies since 1 January 2026.
Financials
Financial year 2025
ARFIN from Elsene, company number BE0446307787, closed financial year 2025 with a result of € 84,057 after tax. For that financial year ARFIN recorded a gross margin of € 287,763 and equity of € 4.8 million. Compared with financial year 2024, the result moved from € -128,779 to € 84,057. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on August 31, 2026.
€ 4.8 million
▲ 8% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 84,057
▲ still € 128,779 loss in 2024
Profit after tax over the fiscal year.
€ 5,259
▼ 91% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 4.7 million.
People and assets in 2025
€ 56,503
▲ 59% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 1.6 million
▼ 5% vs 2024
€ 174,384 is repaid this year. At this pace the long-term loan is gone in ≈ 8 years.
€ 10,600
▼ 91% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 4,650
▲ 79% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 282,669 | € 112,373 | € 311,213 | € 287,763 | ▼ 8% |
| Profit after taxes | € -30,711 | € -33,763 | € -128,779 | € 84,057 | ▲ € 212,837 |
| Equity | € 4,618,878 | € 4,585,115 | € 4,456,336 | € 4,801,164 | ▲ 8% |
| Total debts | € 1,839,140 | € 1,918,083 | € 1,820,161 | € 1,999,423 | ▲ 10% |
| Cash | € 477,872 | € 439,876 | € 56,259 | € 5,259 | ▼ 91% |
| Land & buildings | € 4,400,693 | € 4,548,657 | € 5,274,477 | € 5,726,111 | ▲ 9% |
| Retained profit | € 4,581,718 | € 4,547,956 | € 4,419,176 | € 4,707,131 | ▲ 7% |
| Bank debt | € 1,699,705 | € 1,534,163 | € 1,659,830 | € 1,568,834 | ▼ 5% |
| Balance sheet total | € 6,458,018 | € 6,503,199 | € 6,276,497 | € 6,806,202 | ▲ 8% |
Key figures of ARFIN, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to ARFIN?
What happened at ARFIN in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 84,057. filed late Source: NBB ↗
- New establishment in Elsene. KBO
- Start of the company according to the CBE. KBO
In short
From € 30,711 loss in 2022 to € 84,057 profit in 2025.
Paid € 9,034 in corporate taxes since 2022.
Best year ever: 2025, with € 84,057 profit.
A new publication or filing at ARFIN? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Behind ARFIN are Sandrine Delacroix and Pierre NOTHOMB. It owns 99.6% of MAD & Co itself.
Directors
According to the 2025 annual accounts
Pierre NOTHOMB
Manager
Also active at: DRS BELGIUM, DEMINOR, Pierre Nothomb, FONDATION ULB, MAD & C°
Establishments
Establishment units
Physical locations of this company
Renbaanlaan 35 box 8
1050 Elsene
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 3 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0446.307.787
- VAT number
- BE 0446.307.787
- Registered office
- Renbaanlaan 35 bus 8, 1050 Elsene
- Names & denominations
- ARFIN
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 30 December 1991
- Peppol
- Not registered
- Activities · NACE
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