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 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 52 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
AFIX GROUP from Aalter, company number BE0863700866, closed financial year 2025 with a result of € -17.6 million after tax. For that financial year AFIX GROUP recorded revenue of € 22.5 million and equity of € -20.3 million. Compared with financial year 2024, the result moved from € -4.4 million to € -17.6 million. 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 October 20, 2026.
€ -20.3 million
▼ € 17.6 million vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -17.6 million
▼ 301 % more loss than in 2024
Profit after tax over the fiscal year.
€ 260,282
▲ 271% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -28.8 million.
People and assets in 2025
11.4
▼ 0.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.5 million
▲ 20% vs 2024
€ 130,900 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.
€ 21,626
▼ 27% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 33.3 million
▲ 20% vs 2024
€ 7.4 million is repaid this year. At this pace the long-term loan is gone in ≈ 4 years.
€ 7.2 million
▼ 16% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 110 days on average.
€ 579,888
▲ 14% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 16,325,217 | € 19,733,706 | € 24,568,419 | € 22,460,200 | ▼ 9% |
| Profit after taxes | € -3,889,699 | € -692,238 | € -4,394,556 | € -17,604,704 | ▼ € 13.2 million |
| Equity | € 2,409,555 | € 1,717,317 | € -2,677,240 | € -20,281,943 | ▼ € 17.6 million |
| Total debts | € 36,717,651 | € 42,308,022 | € 45,374,843 | € 46,354,157 | ▲ 2% |
| Cash | € 218,573 | € 986,145 | € 70,226 | € 260,282 | ▲ 271% |
| Land & buildings | € 1,570,805 | € 1,520,683 | € 1,471,326 | € 1,422,812 | ▼ 3% |
| Retained profit | € -6,104,671 | € -6,796,909 | € -11,191,466 | € -28,796,169 | ▼ € 17.6 million |
| Bank debt | € 28,930,640 | € 35,549,894 | € 27,790,743 | € 33,293,019 | ▲ 20% |
| Balance sheet total | € 39,127,206 | € 44,025,338 | € 42,697,603 | € 26,072,214 | ▼ 39% |
| Employees (FTE) | 12.6 | 12.4 | 11.9 | 11.4 | ▼ 0.5 |
Key figures of AFIX GROUP, 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 AFIX GROUP?
What happened at AFIX GROUP in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Humalix BV stepped down as director. NBB
- Fleurbaey & Partners BV stepped down as director. NBB
- Sterre Invest BV stepped down as director. NBB
- Steelco Invest NV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 17.6 million. filed late Source: NBB ↗
- Humalix BV became a director. NBB
- Fleurbaey & Partners BV became a director. NBB
- Sterre Invest BV became a director. NBB
In short
From € 3.9 million loss in 2022 to € 17.6 million loss in 2025.
Paid € 9,597 in corporate taxes since 2022.
Pays suppliers within 110 days on average.
Management
The stake of STEELCO INVEST comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
AFIX GROUPThe shares are held by STEELCO INVEST (100%). It owns 100% of Afix Echafaudage, 100% of Afix Scaff Iskele Turkey LTD, 100% of Afix Aris Iskele Turkey, 98% of Afix, 90% of Afix France and 85% of Afix Morocco itself.
Directors
According to the 2025 annual accounts
Director · represented by Stephan Hillaert
since 2023 · until 2029
Managing director · represented by Chris Fleurbaey
Also active at: STEELCO INVEST, AFIX
since 2023 · until 2029
since 2023 · until 2029
Director · represented by Gregory De Clerck
since 2023 · until 2029
Shareholders
100%
Participations
Afix Echafaudage
100%
Afix Scaff Iskele Turkey LTD
100%
Afix Aris Iskele Turkey
100%
98%
Afix France
90%
Afix Morocco
85%
Afix Maghreb
82.8%
Afix Scaffolding UK
75%
Afix Beheer BV
73.9%
Staalprofiel BV
51%
Establishments
Establishment units
Physical locations of this company
Durmelaan 20
9880 Aalter
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 5 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
- 0863.700.866
- VAT number
- BE 0863.700.866
- Registered office
- Durmelaan 20, 9880 Aalter
- Names & denominations
- AFIX GROUP
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 27 February 2004
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Groothandel in machines voor de mijnbouw, de bouwnijverheid en de weg- en waterbouw
Groothandel in machines voor mijnbouw, de bouwnijverheid en de weg- en waterbouw