ACTIVE

AFKOR

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Financial year 2025 · closed on 31/12/2025

Net result

31,9 k €

+345.6% YoY

Gross margin

2,5 M €

+39.5% YoY

Equity

871,2 k €

+3.8% YoY

Workforce

31,6 ETP

+18.4% YoY

What does AFKOR do?

AFKOR is a Public limited company incorporated in 1968. Its main activity is: Joinery installation. Its registered office is in Kortrijk. It employs on average 31,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0405.728.630

Incorporation

01/01/1968

Legal form

Public limited company

Registered office

Torkonjestraat(Mar) 21 box E
8510 Kortrijk · FlandreSee on map

Contributed capital

44 257,00 €

Latest accounts

31/12/2025

Average workforce

31,6 ETP

Activities (NACE)

43320Joinery installation· main 43320Joinery installation 45421Sale, maintenance and repair of motorcycles and related parts and accessories 46130Agents involved in the sale of timber and building materials 46130Agents involved in the sale of timber and building materials 51130Passenger air transport+10

Joint committees (3)

Signals

ProfitableLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	2,5 M €	+39.5%	1,8 M €	-12.8%	2,1 M €	+25.1%	1,7 M €	+0.5%	1,7 M €	+23.5%	1,3 M €	-4.8%	1,4 M €	+8.3%	1,3 M €	-13.8%	1,5 M €	+5.3%	1,4 M €	+19.8%	1,2 M €	+9.2%	1,1 M €	+28.1%	856,7 k €	+14.5%	748,5 k €	-12.0%	850,5 k €	+11.8%	761,1 k €	+3.5%	735,1 k €	-11.7%	832,4 k €	+5.4%	789,4 k €	+2.8%	768,1 k €
EBITDA	362 k €	+23.0%	294,3 k €	-19.7%	366,5 k €	+58.2%	231,6 k €	+2.4%	226,1 k €	-7.5%	244,4 k €	+3.6%	235,9 k €	-24.0%	310,3 k €	-31.1%	450,4 k €	-17.0%	542,9 k €	+47.5%	368 k €	+5.2%	349,7 k €	+32.7%	263,5 k €	-6.4%	281,3 k €	-29.2%	397,4 k €	+6.3%	373,7 k €	+2.2%	365,7 k €	-20.5%	459,8 k €	+8.8%	422,6 k €	+2.9%	410,7 k €
Operating result	133,2 k €	+13.0%	117,9 k €	-33.7%	177,9 k €	+78.0%	99,9 k €	+21.3%	82,4 k €	+2.6%	80,3 k €	-21.4%	102,2 k €	-15.9%	121,5 k €	-52.6%	256,2 k €	-31.2%	372,2 k €	+68.5%	220,9 k €	+6.0%	208,5 k €	+63.1%	127,8 k €	-14.4%	149,4 k €	-46.3%	278,3 k €	+13.5%	245,2 k €	+3.8%	236,3 k €	-28.4%	330,1 k €	+7.7%	306,4 k €	+6.1%	288,7 k €
Net result	31,9 k €	+346%	7,2 k €	-92.8%	100 k €	+88.3%	53,1 k €	+74.9%	30,4 k €	-16.6%	36,4 k €	-29.3%	51,5 k €	-1.0%	52,1 k €	-68.1%	163,3 k €	-35.0%	251,3 k €	+120%	114,4 k €	+3.9%	110,2 k €	+134%	47 k €	-55.3%	105,2 k €	-40.1%	175,4 k €	-17.0%	211,5 k €	-6.1%	225,2 k €	-5.2%	237,7 k €	+8.8%	218,4 k €	-3.0%	225,1 k €
Balance sheet
Equity	871,2 k €	+3.8%	839,4 k €	+0.9%	832,2 k €	+13.7%	732,2 k €	+7.8%	679 k €	+4.7%	648,6 k €	+6.0%	612,2 k €	+9.2%	560,7 k €	-64.0%	1,6 M €	+4.8%	1,5 M €	-0.0%	1,5 M €	-0.2%	1,5 M €	-2.3%	1,5 M €	-4.6%	1,6 M €	-0.6%	1,6 M €	+60.0%	1 M €	+6.3%	945,8 k €	+8.4%	872,5 k €	+10.9%	786,7 k €	+9.2%	720,2 k €
Total assets	3,1 M €	-1.2%	3,1 M €	-3.2%	3,3 M €	+34.7%	2,4 M €	+3.5%	2,3 M €	-1.9%	2,4 M €	-4.7%	2,5 M €	+42.6%	1,8 M €	-38.6%	2,9 M €	-8.8%	3,1 M €	+2.6%	3 M €	+4.9%	2,9 M €	+0.3%	2,9 M €	-2.4%	3 M €	-6.8%	3,2 M €	+44.1%	2,2 M €	-3.0%	2,3 M €	-2.2%	2,3 M €	+2.5%	2,3 M €	+7.1%	2,1 M €
Cash	312,3 k €	+195%	105,9 k €	-66.8%	319,3 k €	+60.6%	198,9 k €	+60.5%	123,9 k €	-66.7%	371,6 k €	+86.4%	199,4 k €	+4.2%	191,4 k €	-27.3%	263,4 k €	-22.8%	341,1 k €	+43.0%	238,4 k €	+8.3%	220,1 k €	+27.5%	172,7 k €	+70.5%	101,3 k €	+26.2%	80,2 k €	-63.2%	217,9 k €	+58.6%	137,4 k €	+153%	54,2 k €	-71.7%	191,9 k €	-20.8%	242,3 k €
Debts	2,2 M €	-3.2%	2,2 M €	+0.7%	2,2 M €	+37.4%	1,6 M €	+1.7%	1,6 M €	-4.5%	1,7 M €	-8.4%	1,8 M €	+54.0%	1,2 M €	-8.5%	1,3 M €	-20.2%	1,6 M €	+4.3%	1,6 M €	+13.3%	1,4 M €	+1.5%	1,4 M €	-0.9%	1,4 M €	-11.3%	1,5 M €	+31.5%	1,2 M €	-9.9%	1,3 M €	-7.5%	1,4 M €	-4.3%	1,5 M €	+8.7%	1,3 M €
Other
Workforce	31,6 ETP	+18.4%	26,7 ETP	+1.9%	26,2 ETP	0.0%	26,2 ETP	+3.1%	25,4 ETP	+10.4%	23,0 ETP	+11.1%	20,7 ETP	+16.9%	17,7 ETP	-7.3%	19,1 ETP	+19.4%	16,0 ETP	+6.7%	15,0 ETP	+11.1%	13,5 ETP	+28.6%	10,5 ETP	+12.9%	9,3 ETP	-2.1%	9,5 ETP	+6.7%	8,9 ETP	+14.1%	7,8 ETP	-2.5%	8,0 ETP	-4.8%	8,4 ETP	-1.2%	8,5 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 100 k€ and 250 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 13 ended

Active mandates

F.R.W. INVEST

Managing director · since 30 novembre 2020 · 0631.692.902

Represented by Frederic Willems

Active

Ended mandates

F.R.W. INVEST

Managing director · since 08 mai 2018 · until 07 mai 2024 · 0631.692.902

Represented by Frederic Willems

Ended

Frederic Willems

Director · since 08 mai 2018 · until 07 mai 2024

Ended

F.R.W. INVEST

Managing director · since 01 juillet 2015 · 0631.692.902

Represented by Frederic Willems

Ended

Frederic Willems

Director · since 04 avril 2012 · until 02 mai 2018

Ended

At this address

Other companies at this address

Company	CBE no.
Belberry● Active	0719.381.001
BELBERRY GROUP● Active	0743.892.505
BODECOR● Active	0438.987.455
HENDRIK HEREMANS● Active	0896.810.926

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	28/08/2026	26/08/2025	31/08/2024	29/07/2023	22/08/2022	31/08/2021
General meeting	05/05/2026	06/05/2025	07/05/2024	02/05/2023	03/05/2022	04/05/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	05/05/2026	28/08/2026	Dutch	PDF
Abridged model	31/12/2024	06/05/2025	26/08/2025	Dutch	PDF
Abridged model	31/12/2023	07/05/2024	31/08/2024	Dutch	PDF
Abridged model	31/12/2022	02/05/2023	29/07/2023	Dutch	PDF
Abridged model	31/12/2021	03/05/2022	22/08/2022	Dutch	PDF
Abridged model	31/12/2020	04/05/2021	31/08/2021	Dutch	PDF
Abridged model	31/12/2019	20/08/2020	26/10/2020	Dutch	PDF
Abridged model	31/12/2018	07/06/2019	30/08/2019	Dutch	PDF
Abridged model	31/12/2017	08/05/2018	31/08/2018	Dutch	PDF
Abridged model	31/12/2016	03/05/2017	28/08/2017	Dutch	PDF
Abridged model	31/12/2015	03/05/2016	18/08/2016	Dutch	PDF
Abridged model	31/12/2014	05/05/2015	31/08/2015	Dutch	PDF
Abridged model	31/12/2013	06/05/2014	28/08/2014	Dutch	PDF
Abridged model	31/12/2012	07/05/2013	31/08/2013	Dutch	PDF
Abridged model	31/12/2011	02/05/2012	29/06/2012	Dutch	PDF
Abridged model	31/12/2010	03/05/2011	05/07/2011	Dutch	PDF
Abridged modelCorrection	31/12/2009	04/05/2010	21/09/2010	Dutch	PDF
Abridged model	31/12/2009	04/05/2010	31/08/2010	Dutch	PDF
Abridged model	31/12/2008	06/05/2009	09/06/2009	Dutch	PDF
Abridged model	31/12/2007	06/05/2008	09/07/2008	Dutch	PDF
Abridged model	31/12/2006	02/05/2007	29/06/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 k€ and 250 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 13 ended

Active mandates

F.R.W. INVEST

Managing director · since 30 novembre 2020 · 0631.692.902

Represented by Frederic Willems

Active

Ended mandates

F.R.W. INVEST

Managing director · since 08 mai 2018 · until 07 mai 2024 · 0631.692.902

Represented by Frederic Willems

Ended

Frederic Willems

Director · since 08 mai 2018 · until 07 mai 2024

Ended

F.R.W. INVEST

Managing director · since 01 juillet 2015 · 0631.692.902

Represented by Frederic Willems

Ended

Frederic Willems

Director · since 04 avril 2012 · until 02 mai 2018

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates31/12/2020
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - ONTSLAGEN - BENOEMINGEN
PDF
Restructuring14/08/2019
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates08/04/2019
ONTSLAGEN - BENOEMINGEN
PDF
Mandates08/02/2019
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring10/01/2019
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates05/11/2015
ONTSLAGEN - BENOEMINGEN
PDF
Mandates30/04/2012
ONTSLAGEN - BENOEMINGEN
PDF
Mandates29/06/2011
ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 202531,9 k €↑
2024
Annual accounts 20247,2 k €↓
2023
Annual accounts 2023100 k €↑
2022
Annual accounts 202253,1 k €↑
2021
Annual accounts 202130,4 k €↓
2020
Annual accounts 202036,4 k €↓
2019
Annual accounts 201951,5 k €↓
2018
Annual accounts 201852,1 k €↓
2017
Annual accounts 2017163,3 k €↓
2016
Annual accounts 2016251,3 k €↑
2015
Annual accounts 2015114,4 k €↑
2014
Annual accounts 2014110,2 k €↑
2013
Annual accounts 201347 k €↓
2012
Annual accounts 2012105,2 k €↓
2011
Annual accounts 2011175,4 k €↓
2010
Annual accounts 2010211,5 k €↓
2009
Annual accounts 2009225,2 k €↓
2008
Annual accounts 2008237,7 k €↑
2007
Annual accounts 2007218,4 k €↓
2006
Annual accounts 2006225,1 k €
01/01/1968
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

AFKOR

Overview

What does AFKOR do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline