A.P.A.C.

Active

Non-profit associationfounded 1995active for 31 yearsrue du Chenia 13, 7170 Manage, BelgiumKBO/BCE: BE 0456.685.007

Summary

A.P.A.C. has been active since 1995 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.3m and a net result of €43,469. Equity is growing by about 11% per year across the filed financial years. Its solvency ranks better than 42% of 660 sector peers (NACE 88, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).

Risk analysisFollow Report Compare

A.P.A.C.ActiveChecked score 93/100

Risk analysis Report Compare

Activity

Social work activities without accommodation

NACE 88993

Largest company by total assets in Manage, Health and social work sector1 site

Size

€5.1mtotal assets 2025

Staff: 89 FTE
Equity: €2.3m
Surplus: €43,469

Financial health

93 Excellent Checked score 2025

Bankruptcy probabilitywithin 12 months: < 0.1%

Structure

Board: 8 members

LHOST BenoîtDaily manager

Auditor: Sprl Groupe Audit Belgium2025 accounts 21 days early3 of 12 deeds summarised

Why 93lowers riskLegal form: non-profit associationLiquidity: current ratio 1.25, cash €1.6mSector: Social work activities without accommodation (NACE 88)Equity €2.3m (44.2% of total assets)Show the evidence

Checked score

Score 2025

93 / 100

Excellent

Probability in this band: under 0.55%

Financially better than 44% of its sector peers (NACE 88, medium-sized)

Every signal that counts is listed under Signals.

Financial strength · tick = 2024

Strong

Solvency 69-1

equity 44.2% of total assets

Liquidity 75=

short-term debt 33.9% · cash 32.1%

Profitability 63-9

return on assets 0.9%

Bankruptcy probability, 12 months

< 0.1% Very low

0%0.5%1.5%4%10%≥ 25%

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median < 0.1% (218 companies, NACE 88, medium-sized)

Last 24 months 11-2024: < 0.1%lowest value 12-2024: < 0.1%● unchanged vs 11-2024lowest value 01-2025: < 0.1%● unchanged vs 12-2024lowest value 02-2025: < 0.1%● unchanged vs 01-2025lowest value 03-2025: < 0.1%● unchanged vs 02-2025lowest value 04-2025: < 0.1%● unchanged vs 03-2025 05-2025: < 0.1%● unchanged vs 04-2025 06-2025: < 0.1%● unchanged vs 05-2025 07-2025: < 0.1%● unchanged vs 06-2025 08-2025: < 0.1%● unchanged vs 07-2025 09-2025: < 0.1%● unchanged vs 08-2025 10-2025: < 0.1%● unchanged vs 09-2025 11-2025: < 0.1%● unchanged vs 10-2025 12-2025: < 0.1%● unchanged vs 11-2025 01-2026: < 0.1%● unchanged vs 12-2025 02-2026: < 0.1%● unchanged vs 01-2026 03-2026: < 0.1%● unchanged vs 02-2026 04-2026: < 0.1%● unchanged vs 03-2026 05-2026: < 0.1%● unchanged vs 04-2026 06-2026: < 0.1%● unchanged vs 05-2026 07-2026: < 0.1%● unchanged vs 06-2026highest value 08-2026: < 0.1%● unchanged vs 07-2026 09-2026: < 0.1%● unchanged vs 08-2026 10-2026: < 0.1%● unchanged vs 09-2026

Credit of up to €200,000 on 30-day terms is acceptable

Liquidity tight (current ratio 1.25, compared with 1.32 in 2024, below the usual 1.5; short-term debt: 33.9% and cash: 32.1% of total assets), and 55.8% of the assets are financed with debt and provisions.

How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100	Excellent	under 0.55%
60-74	Healthy	0.55% to 1.5%
45-59	Fair	1.5% to 4.2%
25-44	Weak	4.2% to 15.0%
0-24	Critical	over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 88, medium-sized): better than 32% on solvency, 71% on liquidity, 36% on profitability and 37% on growth.

The bankruptcy probability was computed on 23-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Five signals.

lowers riskneutral

Legal form: non-profit association

KBO

Liquidity: current ratio 1.25, cash €1.6m

NBB · annual accounts

Sector: Social work activities without accommodation (NACE 88)

KBO

Equity €2.3m (44.2% of total assets)

NBB · annual accounts

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 10-07-2026, 21 days ahead of the deadline.

NBB · 10 filings

Deviation from the deadline

2025

21 days early

2024

42 days early

2023

70 days early

2022

75 days early

2021

54 days early

2020

60 days early

2019

11 days late

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 7 accounts on average 44 days before the deadline; the sector median (NACE 88) for financial year 2024 is 24 days before the deadline, and 25% of those companies filed late.

Searched, nothing found (2)

Next filing not due yet

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 7 June (4 of the last 5 filed years within 30 days of that day).

Companies Code · seven months

Where today falls in the filing period

24-10-2026 today31-12-2026 year end31-07-2027 deadline

No strike-offs in the KBO publications

Searched since 2021.

KBO publications · our coverage

10-07-2026 Annual accounts filedfinancial year 2025 · full…
03-04-2026 Reappointments: BLERET Olivier, NISET Guy and…Resignation: DUPONT Christian (director) ·…
19-06-2025 Annual accounts filedfinancial year 2024 · full…

Key points

Caution: Result fell in 2025from €131,226 to €43,469 ▼ 66.9% View
Positive: Largest company by total assets in Manage, Health and social work sectorin the Checked rankings No. 1 View
Positive: 8 profitable years in a rowprofit 2025: €43,469 8 years View
Positive: Filed on time since financial year 2020accounts within the deadline every year 6 years View
A director leftlatest change 03-04-2026 · 8 in office 1 left View

By topic

Financials

Financial year: 2025
Total assets: €5.1m
Profit: €43,469
Solvency: 44.2%

Total assets▲ 3.3%

Net result

20182025

Go to Financials

Board & ownership

Board: 8 members
Auditor: Sprl Groupe Audit Belgium

FOURATI LeilaDirector
ANGELI RaymondDirector
BLERET OlivierDirector
CORNET PhilippeDirector
DELCROIX PhilippеDirector

and 3 other directors

Go to Board & ownership

Timeline

Events: 25
Since: 2007
Next accounts: by 31-07-2027

06-09-2024Appointment: Leila FOURATI (director)
22-05-2024Annual accounts filed
10-01-2024Amendment of the articles

Go to Timeline

Company details

Sites: 1

Legal form: Non-profit association
Activity: Social work activities without accommodationNACE 88993
Founded: 25-04-1995
Year ends: 31-12
Peppol: Reachable for e-invoices

Go to Company details

Articles of association

Provisions read: 37

See the provisions in the deeds

Go to Articles of association

Key facts about A.P.A.C.

What is the company number of A.P.A.C.?: 0456.685.007. In Belgium the VAT number is the company number with BE in front: BE 0456.685.007.
Where is A.P.A.C. based?: The registered office is at rue du Chenia 13, 7170 Manage.Company details
What does A.P.A.C. do?: According to the KBO register, the main activity is social work activities without accommodation (NACE 88993).
What is the legal form of A.P.A.C.?: Non-profit association (VZW).
When was A.P.A.C. founded?: On 25-04-1995.
Is A.P.A.C. still active?: Yes, A.P.A.C. is an active enterprise in the KBO register.
How many employees does A.P.A.C. have?: On average 89 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
What is the turnover of A.P.A.C.?: Not stated in the processed annual accounts. The abridged format for small companies does not require turnover.
Is A.P.A.C. profitable?: In financial year 2025, A.P.A.C. made a profit of €43,469.
Where can I find the annual accounts of A.P.A.C.?: A.P.A.C. filed 20 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
When are the next annual accounts of A.P.A.C. due?: By 31-07-2027, for financial year 2026.Timeline