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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Negative equity NBB
More debt than assets in 2 of the last 3 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
Financials
Financial year 2025
ROYAL ANTWERP FOOTBALL CLUB from Antwerpen, company number BE0839407415, closed financial year 2025 with a result of € -515,827 after tax. For that financial year ROYAL ANTWERP FOOTBALL CLUB recorded revenue of € 43.4 million and equity of € -10.6 million. Compared with financial year 2024, the result moved from € -12.2 million to € -515,827. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on February 12, 2026.
€ -10.6 million
▼ € 672,970 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -515,827
▲ 96 % less loss than in 2024
Profit after tax over the fiscal year.
€ 4.2 million
▲ 98% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -59.1 million.
People and assets in 2025
118
▲ 5.9 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 42.5 million
▼ 33% vs 2024
€ 360,000 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 90,495
▼ 46% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 4.7 million
▼ 72% vs 2024
Loans from banks and other lenders, long and short.
€ 20.4 million
▼ 25% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 229 days on average.
€ 9.1 million
▼ 25% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|
| Revenue | € 31,219,502 | € 64,849,871 | € 43,351,487 | ▼ 33% |
| Profit after taxes | € -32,015,513 | € -12,187,745 | € -515,827 | ▲ € 11.7 million |
| Equity | € 1,316,487 | € -9,966,992 | € -10,639,961 | ▼ € 672,970 |
| Total debts | € 48,139,187 | € 72,203,954 | € 63,236,758 | ▼ 12% |
| Cash | € 3,244,984 | € 2,104,468 | € 4,159,718 | ▲ 98% |
| Land & buildings | € 648,385 | € 374,153 | € 239,419 | ▼ 36% |
| Retained profit | € -32,015,513 | € -58,600,159 | € -59,115,985 | ▼ € 515,827 |
| Bank debt | € 5,525,802 | € 16,845,555 | € 4,690,034 | ▼ 72% |
| Balance sheet total | € 50,416,938 | € 62,450,463 | € 52,596,797 | ▼ 16% |
| Employees (FTE) | 103 | 112.1 | 118 | ▲ 5.9 |
Key figures of ROYAL ANTWERP FOOTBALL CLUB, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 January 2027.
What happened to ROYAL ANTWERP FOOTBALL CLUB?
What happened at ROYAL ANTWERP FOOTBALL CLUB in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Baaltje CommV stepped down as director. NBB
- Goala BV stepped down as director. NBB
- Ghlobal BV stepped down as director. NBB
- Jinvest BV stepped down as director. NBB
- Ghemic BV stepped down as director. NBB
- Ria Vandoorne stepped down as director. NBB
- Juvia BV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 515,827. filed late Source: NBB ↗
In short
From € 32 million loss in 2022 to € 515,827 loss in 2025.
Paid € 2.4 million in corporate taxes since 2022.
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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
The stake of GOALA comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
ROYAL ANTWERP FOOTBALL CLUBThe shares are held by GOALA (100%).
Directors
According to the 2025 annual accounts
Director · represented by Steve Van den Kerkhof
since 2024 · until 2030
since 2022 · until 2027
Director · represented by Jurgen Ingels
Also active at: Certimed, MENSURA Service Externe de Prévention et de Protection au travail, GHELAMCO INVEST, VYNCKE, WILLEMEN GROEP, ITINERIS, Varel Security Group, BRIKZ +5 more
since 2022 · until 2027
Managing director · represented by Paul Gheysens
since 2024 · until 2029
Director · represented by Michaël Gheysens
Also active at: R.H.R. - INDUSTRIES, GARAGE S.O.S., GHELAMCO INVEST, SOGIMES, THE WHITE HOUSE ZOUTE, STEELCON, IMMOBILIERE COGIMES, M. VAN STEENWINKEL +34 more
since 2022 · until 2027
Ria Vandoorne
Director
Also active at: IMMOBILIERE NORTH SEA PROPERTIES, YPFINANCE, PRODIP, ELZENWALLE, RUMILO, GHELAMCO PROJECTS, SECURE REALTY, ZOUTEWIND +9 more
since 2022 · until 2027
Director · represented by Jacques Vandermeiren
since 2022 · until 2027
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Oude Bosuilbaan 54A
2100 Antwerpen
Oude Bosuilbaan 54 box a
2100 Antwerpen
Active since 19 September 2011
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 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
- 0839.407.415
- VAT number
- BE 0839.407.415
- Registered office
- Oude Bosuilbaan 54A, 2100 Antwerpen
- Names & denominations
- ROYAL ANTWERP FOOTBALL CLUB · RAFC
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 19 September 2011
- Peppol
- Active · Active since 7 Oct 2025
- Activities · NACE
Activiteiten van voetbalclubs
Activiteiten van managers van artiesten, sportlui en overige bekende personaliteiten
Mediarepresentatie
Detailhandel in dames-, heren-, baby- en kinderboven- en onderkleding en kledingaccessoires (algemeen assortiment)
Activiteiten van managers van artiesten, sportlui en overige bekende pesonaliteiten