ROYAL ANTWERP FOOTBALL CLUB
ActiveROYAL ANTWERP FOOTBALL CLUB has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (€-10.64M) and a net result of €-516k. Equity is shrinking by ~39.6% per year across the filed fiscal years. Its solvency ranks better than 11% of 416 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Checked score
Score 2025
44
/ 100
Weak
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Negative equity caps the score. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability78▲+35
Solvency5▼-4
Growth63▲+8
Track record100
Bankruptcy probability, 12 months
0.2%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity tight (current ratio 1.25 against 0.7 in 2024; short-term debt: 65% and cash: 7.9% of total assets), and equity is negative.
Credit advice for your own amount and term
Signals
Eight signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 93
Relative position
BE, all sectors
reference
Sector 93
lower
← 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
-20.2%
Return on assets
-1%
Age of the figures
15 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year €-10.64M
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 12-02-2026, 12 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 10 filingsDeviation from the deadline
2025
12 d late
2024
17 d early
2023
1 d early
2022
16 d late
2021
20 d early
2020
41 d early
2019
39 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close17-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
€43.35M▼ 33.2%
2024 · €64.85M
2020: €24.50M
2021: €26.10M
2022: €31.22M
2023: €37.69M
2024: €64.85M
2020 → 2025
EBIT margin
12.8%▲ 20.1pp
2024 · -7.4%
2020: -64.3%
2021: -66.1%
2022: -100.1%
2023: -115.1%
2024: -7.4%
2020 → 2025
Net result
€-516k▲ 95.8%
2024 · €-12.19M
2019: €-8.15M
2020: €-14.83M
2021: €-10.35M
2022: €-32.02M
2023: €-46.41M
2024: €-12.19M
2019 → 2025
Working capital
€8.60M
2024 · €-16.53M
2019: €11.00M
2020: €2.21M
2021: €-3.68M
2022: €-1.18M
2023: €-47.98M
2024: €-16.53M
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Turnover€26.10M-€31.22M▲ 19.6%€37.69M▲ 20.7%€64.85M▲ 72.0%€43.35M▼ 33.2%
Equity€1.73M-€1.32M▼ 24.0%€-45.10M€-9.97M▲ 77.9%€-10.64M▼ 6.8%
Operating result€-17.24M-€-31.25M▼ 81.3%€-43.37M▼ 38.8%€-4.77M▲ 89.0%€5.54M
Net result€-10.35M-€-32.02M▼ 209%€-46.41M▼ 45.0%€-12.19M▲ 73.7%€-516k▲ 95.8%
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €5.54M after a loss of €4.77M in 2024, the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €52.60M
Fixed assets
€9.81M▼ 57.4%
Current assets
€42.78M▲ 8.6%
Key figures and ratios
EBITDA
€12.58M▲
2024 · €8.03M
Cash flow
€6.53M▲
2024 · €611k
Solvency
-20.2%▼
2024 · -16.0%
Current ratio
1.25▲
2024 · 0.70
Quick ratio
1.24▲
2024 · 0.70
Debt / equity
-5.94▲
2024 · -7.24
ROA
-1.0%▲
2024 · -19.5%
Interest coverage
6.99▲
2024 · 3.51
Debt
€63.24M▼
2024 · €72.20M
Debt ≤ 1 year
€34.19M▼
2024 · €55.92M
Debt > 1 year
€16.56M▲
2024 · €3.79M
Income taxes
€803k▼
2024 · €1.17M
Staff costs
€42.48M▼
2024 · €63.00M
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€62.45M€52.60M▼
Fixed assets21/28€23.06M€9.81M▼
Intangible fixed assets21€20.53M€5.67M▼
Tangible fixed assets22/27€2.49M€4.11M▲
Land and buildings22€374k€239k▼
Plant, machinery and equipment23€450k€349k▼
Furniture and vehicles24€169k€90k▼
Other tangible fixed assets26€117k€1.02M▲
Assets under construction and advance payments27€1.38M€2.42M▲
Financial fixed assets28€34k€34k▲
Other financial fixed assets284/8€34k€34k▲
Amounts receivable and cash guarantees285/8€34k€34k▲
Current assets29/58€39.39M€42.78M▲
Amounts receivable after more than one year29€709k€14.15M▲
Trade receivables290€499k€14.01M▲
Other amounts receivable291€210k€140k▼
Stocks and contracts in progress3€329k€236k▼
Stocks30/36€329k€236k▼
Goods purchased for resale34€329k€236k▼
Amounts receivable within one year40/41€35.49M€23.12M▼
Trade receivables40€7.74M€22.98M▲
Other amounts receivable41€27.74M€139k▼
Cash at bank and in hand54/58€2.10M€4.16M▲
Deferred charges and accrued income490/1€766k€1.12M▲
Equity and liabilities
Total equity and liabilities10/49€62.45M€52.60M▼
Equity10/15€-9.97M€-10.64M▼
Contributions10/11€48.13M€48.13M=
Capital10€48.13M€48.13M=
Issued capital100€48.13M€48.13M=
Profit (loss) carried forward14€-58.60M€-59.12M▼
Investment grants15€500k€343k▼
Provisions and deferred taxes16€214k-
Provisions for liabilities and charges160/5€214k-
Other liabilities and charges164/5€214k-
Amounts payable17/49€72.20M€63.24M▼
Amounts payable after more than one year17€3.79M€16.56M▲
Financial debts170/4€315k-
Other loans174€315k-
Trade debts175€2.03M€6.55M▲
Suppliers1750€2.03M€6.55M▲
Other amounts payable178/9€1.45M€10.01M▲
Amounts payable within one year42/48€55.92M€34.19M▼
Current portion of amounts payable after more than one year42€53k€53k=
Financial debts43€16.48M€4.64M▼
Credit institutions430/8€15.45M€4.64M▼
Other loans439€1.03M-
Trade debts44€27.28M€20.38M▼
Suppliers440/4€27.28M€20.38M▼
Taxes, remuneration and social security45€12.11M€9.08M▼
Taxes450/3€4.22M€2.68M▼
Remuneration and social security454/9€7.89M€6.40M▼
Other amounts payable47/48-€36k
Accrued charges and deferred income492/3€12.49M€12.49M▼
Income statement
Code20242025
Operating income70/76A€116.36M€89.81M▼
Turnover70€64.85M€43.35M▼
Other operating income74€51.49M€46.46M▼
Non-recurring operating income76A€15k-
Operating charges60/66A€121.13M€84.28M▼
Goods for resale, raw materials and consumables60€5.14M€4.24M▼
Purchases600/8€5.38M€4.19M▼
Change in stocks: decrease (increase)609€-246k€51k▲
Services and other goods61€36.43M€28.29M▼
Remuneration, social security and pensions62€63.00M€42.48M▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€12.80M€7.04M▼
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€227k€43k▼
Provisions for liabilities and charges: additions (uses and reversals)635/8-€-214k
Other operating charges640/8€2.54M€2.33M▼
Non-recurring operating charges66A€1.00M€74k▼
Operating profit (loss)9901€-4.77M€5.54M▲
Financial income75/76B€92k€555k▲
Recurring financial income75€92k€555k▲
Income from current assets751€8k€15k▲
Other financial income752/9€84k€540k▲
Financial charges65/66B€6.34M€5.80M▼
Recurring financial charges65€4.64M€5.25M▲
Debt charges650€2.29M€1.80M▼
Other financial charges652/9€2.35M€3.45M▲
Non-recurring financial charges66B€1.70M€550k▼
Profit (loss) for the period before taxes9903€-11.02M€287k▲
Income taxes67/77€1.17M€803k▼
Taxes670/3€1.17M€985k▼
Tax adjustments and reversals of tax provisions77-€182k
Profit (loss) for the period9904€-12.19M€-516k▲
Profit (loss) for the period to be appropriated9905€-12.19M€-516k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-90.62M€-59.12M▲
Profit (loss) brought forward from the previous period14P€-78.43M€-58.60M▲
Transfer from equity791/2€32.02M-
From contributions791€32.02M-
Social balance
Average headcount (FTE)9087112.1118.0▲
The notes to these accounts (78 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
31-08
State Gazette act
Resignations & appointmentsDirector resignation · Permanent representative4 facts ▸
State Gazette act
Resignations & appointments
Director resignation · Permanent representative4 facts ▸
- Director resignation, Baaltje CommV (bestuurder)
- Permanent representative, Steve Van den Kerkhof
- Permanent representative, Wouter Vandenhaute
- Permanent representative, Sven Jaecques
31-07
State Gazette act
Resignations & appointments · MiscellaneousGeneral meeting · Director appointment · Permanent representative22 facts ▸
State Gazette act
Resignations & appointments · Miscellaneous
General meeting · Director appointment · Permanent representative22 facts ▸
- General meeting, 24 juli 2026
- Director appointment, JUVIA (bestuurder)
- Director appointment, One Holding (bestuurder)
- Director appointment, J.ET Consulting (bestuurder)
- Director appointment, Prime Management (bestuurder)
- Director appointment, 1880 (bestuurder)
- Permanent representative, Jacques Vandermeiren
- Permanent representative, Wouter Vandenhaute
- Permanent representative, Sven Jaecques
- Permanent representative, Eddy Verbrugge
- Permanent representative, Davy Gorselé
- Director resignation, Ria Vandoorne (bestuurder)
- +10 further facts in this act
12-02
NBB filing
Annual accounts filed
fiscal year 2025 · full schema · 12 days late
2025
14-01
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
30-01
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
30-06
Financial
Weakest financial yearnet €-46.41M
Net result drops to €-46.41M, the lowest in the series; recovery starts the following year.
16-02
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 16 days late
2022
11-01
NBB filing
Annual accounts filed
fiscal year 2021 · full schema
2020
21-12
NBB filing
Annual accounts filed
fiscal year 2020 · full schema
2019
23-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
11-12
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
18-12
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
03-01
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
under verification, no change since 2026
This board is reconstructed from a single act (26350020). A Gazette act generally publishes only CHANGES, not a full roll call, so directors unchanged since then may be missing here. The KBO register holds the complete list of function holders.
1880
CurrentDirector · since 24-07-2026 · Private limited company · perm. rep.: Davy Gorselé
J.ET Consulting
CurrentDirector · since 24-07-2026 · Private limited company · perm. rep.: Sven Jaecques
JUVIA
CurrentDirector · since 24-07-2026 · Private limited company (pre-2019) · perm. rep.: Jacques Vandermeiren
Prime Management
CurrentDirector · since 24-07-2026 · Private limited company · perm. rep.: Eddy Verbrugge
19-08-2026
Baaltje CommV: Resigned as Director
24-07-2026
1880: Appointed as Director
24-07-2026
J.ET Consulting: Appointed as Director
24-07-2026
JUVIA: Appointed as Director
24-07-2026
Prime Management: Appointed as Director
24-07-2026
GHEMIC: Resigned as Director
24-07-2026
GHLOBAL: Resigned as Director
24-07-2026
GOALA: Resigned as Director
24-07-2026
GOALA: Resigned as Dagelijks bestuurder
24-07-2026
JINVEST: Resigned as Director
24-07-2026
Ria Vandoorne: Resigned as Director
23-07-2026
JUVIA: Resigned as Director
Location & real-estate footprint
Registered office, Antwerpen · 1 establishment unit since 2011
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Oude Bosuilbaan 54A2100 AntwerpenGround area
5.0 ha
Building footprint
1.2 ha
Volume, LiDAR
53,739 m³
2 parcels, Flanders · tallest building 49.0 m. Linked by address, not a title deed.
1 establishment unit
ROYAL ANTWERP FOOTBALL CLUB
since 20112.203.355.592
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11342A0255/00F004 | Flanders | 3.0 ha | 1 · 1.2 ha | 49.0 m |
| 11342A0255/00Z003 | Flanders | 2.0 ha | - | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Structure & network
Connections & network
1 connected companyNetwork connections
Shared corporate director
→
Ownership & control
4 partiesControl over this companysits on this company's board4
2 subsidiaries · 1 location
1 subsidiary · 1 location
1 subsidiary · 1 location
1 subsidiary · 1 location
controls
ROYAL ANTWERP FOOTBALL CLUBBE 0839.407.415
Recognitions · licences · registrations
Legal Entity Identifier
6994004UCID1UWS6KJ48
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Of 1,397 companies in sector 93121 we hold annual accounts for 151. 75 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPublic limited company
Founded19-09-2011
Fiscal year end30-06
Abbreviation NL
RAFC
Activities, NACEBEL
93121Football clubs
47716Retail sale of clothing and accessories for women, men, children and babies (general range)
73120Media representation
74901Other professional, scientific and technical activities
74991Agents and managers of artists, athletes and other public figures
Sources
Crossroads Bank for EnterprisesNational Bank · 14 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.