A-PACK
ActiveSummary
A-PACK has been active since 2000 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.5m and a net result of €237,106. Equity is growing by ~26.2% per year across the filed fiscal years. Its solvency ranks better than 57% of 2300 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability78▲+1
Solvency75▲+8
Growth78=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €110,000 at 30 days acceptable
Liquidity ample (current ratio 1.87 against 1.6 in 2024; short-term debt: 48.8% and cash: 12.7% of total assets), but 50.3% of the assets are financed with debt.
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Signals
Five 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 82
Relative position
BE, all sectors
reference
Office administrative, office support and other business support activities (NACE 82)
about 37% fewer bankruptcies
← 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
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
49.7%
Return on assets
7.7%
Age of the figures
12 mo
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 28-04-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
7 d early
2023
76 d early
2022
73 d early
2021
73 d early
2020
72 d early
2019
73 d early
← 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 54 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 35% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
27-09-2026 today30-09-2026 close30-04-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
€1.5m▲ 18.3%
2024 · €1.3m
Total assets
€3.1m▼ 0.2%
2024 · €3.1m
Net result
€237,106▲ 10.7%
2024 · €214,222
Working capital
€1.3m▲ 24.5%
2024 · €1.0m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€281,040▲ 27.8%€325,054▲ 15.7%€275,296▼ 15.3%€301,987▲ 9.7%€323,670▲ 7.2%
Net result€191,597▲ 31.2%€238,772▲ 24.6%€193,936▼ 18.8%€214,222▲ 10.5%€237,106▲ 10.7%
Equity€645,988▲ 42.2%€884,760▲ 37.0%€1.1m▲ 21.9%€1.3m▲ 19.9%€1.5m▲ 18.3%
Total assets€2.4m▼ 6.9%€2.9m▲ 23.9%€3.6m▲ 22.1%€3.1m▼ 13.6%€3.1m▼ 0.2%
Debt€1.7m▼ 19.0%€2.0m▲ 21.1%€2.5m▲ 22.2%€1.8m▼ 28.0%€1.6m▼ 13.6%
Working capital€508,214▲ 274%€749,233▲ 47.4%€847,908▲ 13.2%€1.0m▲ 23.7%€1.3m▲ 24.5%
Staff (FTE)87.8▼ 7.3%95.4▲ 8.7%101.3▲ 6.2%102.1▲ 0.8%102.4▲ 0.3%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 7% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.1m
Fixed assets
€272,618 ▼ 2.6%
Current assets
€2.8m =
Equity and liabilities €3.1m
Equity
€1.5m ▲ 18.3%
Debt
€1.6m ▼ 13.6%
Debt's share of the balance-sheet total falls from 58.1% to 50.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€382,003▲
2024 · €357,041
Cash flow
€295,438▲
2024 · €269,276
Current ratio
1.87▲
2024 · 1.60
Debt to equity
1.01▼
2024 · 1.39
ROE
15.5%▼
2024 · 16.6%
ROA
7.7%▲
2024 · 6.9%
Interest coverage
58.32▼
2024 · 82.44
Debt ≤ 1 year
€1.5m▼
2024 · €1.8m
Income taxes
€81,071▼
2024 · €83,833
Staff costs
€5.1m▼
2024 · €5.1m
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 1,552 companies that looked in July 2024 the way this one looks now, 0.1% went bankrupt within 24 months and 97% are still going.
- Medium-sized
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.1%
went bankrupt
3.2%
stopped otherwise
97%
still going
For this company itself Checked computes a bankruptcy probability of 0.4% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 1,552 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €4.2m | €4.8m | €5.1m | €5.1m | ▼ 1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €35,510 | €39,993 | €50,747 | €55,053 | €58,332 | ▲ 6.0% |
| Other operating charges640/8 | - | €49,877 | €55,765 | €59,596 | €73,053 | ▲ 22.6% |
| Non-recurring operating charges66A | - | €625 | €0 | - | - | - |
| Gross operating margin9900 | €4.1m | €4.6m | €5.2m | €5.6m | €5.5m | ▼ 0.8% |
| Operating profit (loss)9901 | €281,040 | €325,054 | €275,296 | €301,987 | €323,670 | ▲ 7.2% |
| Financial income75/76B | - | €11 | €9 | €399 | €1,056 | ▲ 165% |
| Recurring financial income75 | €82 | €11 | €9 | €399 | €1,056 | ▲ 165% |
| Financial charges65/66B | - | €6,291 | €4,749 | €4,331 | €6,550 | ▲ 51.2% |
| Recurring financial charges65 | €5,317 | €6,291 | €4,749 | €4,331 | €6,550 | ▲ 51.2% |
| Profit (loss) for the period before taxes9903 | €275,805 | €318,773 | €270,556 | €298,055 | €318,177 | ▲ 6.8% |
| Income taxes67/77 | €84,209 | €80,002 | €76,619 | €83,833 | €81,071 | ▼ 3.3% |
| Profit (loss) for the period9904 | €191,597 | €238,772 | €193,936 | €214,222 | €237,106 | ▲ 10.7% |
| Profit (loss) for the period to be appropriated9905 | €191,597 | €238,772 | €193,936 | €214,222 | €237,106 | ▲ 10.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €2.4m | €2.9m | €3.6m | €3.1m | €3.1m | ▼ 0.2% |
| Fixed assets21/28 | €224,663 | €259,057 | €269,515 | €279,786 | €272,618 | ▼ 2.6% |
| Tangible fixed assets22/27 | €195,833 | €205,766 | €216,224 | €226,494 | €219,327 | ▼ 3.2% |
| Plant, machinery and equipment23 | - | €2,898 | €2,037 | €7,674 | €16,177 | ▲ 111% |
| Furniture and vehicles24 | - | €94,445 | €89,933 | €73,245 | €42,203 | ▼ 42.4% |
| Other tangible fixed assets26 | - | €108,422 | €124,253 | €145,576 | €160,947 | ▲ 10.6% |
| Financial fixed assets28 | €28,830 | €53,292 | €53,292 | €53,292 | €53,292 | = |
| Current assets29/58 | €2.1m | €2.7m | €3.3m | €2.8m | €2.8m | = |
| Amounts receivable after more than one year29 | - | - | - | - | €160,000 | - |
| Other amounts receivable291 | - | - | - | - | €160,000 | - |
| Amounts receivable within one year40/41 | €1.4m | €1.6m | €1.7m | €2.4m | €2.2m | ▼ 8.5% |
| Trade receivables40 | - | €1.6m | €1.6m | €1.6m | €1.6m | ▲ 1.2% |
| Other amounts receivable41 | - | €7,700 | €35,553 | €844,194 | €617,949 | ▼ 26.8% |
| Cash at bank and in hand54/58 | €376,959 | €666,690 | €1.2m | €350,342 | €390,995 | ▲ 11.6% |
| Deferred charges and accrued income490/1 | - | €397,116 | €425,202 | €37,373 | €42,952 | ▲ 14.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €2.4m | €2.9m | €3.6m | €3.1m | €3.1m | ▼ 0.2% |
| Equity10/15 | €645,988 | €884,760 | €1.1m | €1.3m | €1.5m | ▲ 18.3% |
| Contributions10/11 | - | €52,372 | €52,372 | €52,372 | €52,372 | = |
| Reserves13 | €11,699 | €11,699 | €11,699 | €511,699 | €511,699 | = |
| Tax-exempt reserves132 | - | €6,461 | €6,461 | €6,461 | €6,461 | = |
| Distributable reserves133 | - | €5,237 | €5,237 | €505,237 | €505,237 | = |
| Profit (loss) carried forward14 | €581,918 | €820,689 | €1.0m | €728,848 | €965,954 | ▲ 32.5% |
| Provisions and deferred taxes16 | €29,125 | €0 | - | - | - | - |
| Provisions for liabilities and charges160/5 | - | €0 | - | - | - | - |
| Other liabilities and charges164/5 | - | €0 | - | - | - | - |
| Amounts payable17/49 | €1.7m | €2.0m | €2.5m | €1.8m | €1.6m | ▼ 13.6% |
| Amounts payable within one year42/48 | €1.6m | €1.9m | €2.5m | €1.8m | €1.5m | ▼ 14.6% |
| Current portion of amounts payable after more than one year42 | - | €149,736 | €0 | - | - | - |
| Trade debts44 | €842,004 | €1.4m | €1.8m | €1.1m | €980,775 | ▼ 11.6% |
| Suppliers440/4 | - | €1.4m | €1.8m | €1.1m | €980,775 | ▼ 11.6% |
| Taxes, remuneration and social security45 | - | €337,832 | €587,748 | €601,474 | €496,461 | ▼ 17.5% |
| Taxes450/3 | - | €49,432 | €134,608 | €143,339 | €45,819 | ▼ 68.0% |
| Remuneration and social security454/9 | - | €288,400 | €453,140 | €458,135 | €450,642 | ▼ 1.6% |
| Other amounts payable47/48 | - | €24,286 | €106,896 | €48,803 | €25,433 | ▼ 47.9% |
| Accrued charges and deferred income492/3 | - | €123,530 | €38,727 | €35,948 | €48,603 | ▲ 35.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €191,597 | €238,772 | €193,936 | €214,222 | €237,106 | ▲ 10.7% |
| + Depreciation and write-downs630 | €35,510 | €39,993 | €50,747 | €55,053 | €58,332 | ▲ 6.0% |
| Operating cash flow (approximation) | €227,107 | €278,764 | €244,683 | €269,276 | €295,438 | ▲ 9.7% |
| Investment in fixed assets (approximation) | - | -€74,387 | -€61,205 | -€65,324 | -€51,165 | ▲ 21.7% |
| Change in cash | - | €289,731 | €541,502 | -€857,850 | €40,653 | ▲ 105% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
28-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
23-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
14-02
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-09
Financial
Equity above €1mEq €1.1m ▲21.9%
6 profitable years in a row build equity to €1.1m.
16-02
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-09
Financial
Highest result since 2018net €238,772 ▲24.6%
Operating result €325,054, net result €238,772, both a record.
16-02
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-09
Financial
Equity above €500,000Eq €645,988 ▲42.2%
4 profitable years in a row build equity to €645,988.
17-02
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
17-02
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
30-09
Financial
Weakest financial yearnet €8,332 ▼85.4%
Net result drops to €8,332, the lowest in the series; recovery starts the following year.
21-02
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
28-02
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
03-03
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 11 acts read
About the unread acts
We know of 11 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
11 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Lokeren · 4 establishment units since 2001
Ground area
3.9 ha
Building footprint
1.9 ha
Volume, LiDAR
131,041 m³
4 parcels, Flanders · tallest building 10.8 m, ±3 floors. Linked by address, not a title deed.
4
companies at this address
See who is registered here
4 establishment units
A-PACK BVBA
since 20012.100.755.328
Spieveldstraat 8, 9160 Lokeren
since 20152.256.055.296
Moortelstraat 19, 9160 Lokeren
since 20152.256.055.395
A-Pack
since 20202.298.384.019
4 parcels
Flanders
4
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 46382B1290/00D000 | Flanders | 1.9 ha | 1 · 9,876 m² | 10.8 m · 3 fl. |
| 46382B1203/00D000 | Flanders | 1.2 ha | 1 · 2,443 m² | 8.2 m · 2 fl. |
| 46382B1284/00E000 | Flanders | 5,940 m² | 1 · 5,580 m² | 9.8 m · 3 fl. |
| 46382B1282/00B000 | Flanders | 2,770 m² | 1 · 1,022 m² | 6.6 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
4 of 4 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 8 entries · 7,306 EUR awarded · 7,306 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | 2,467 EUR | 2,467 EUR |
| 2024 | 2 | 2,153 EUR | 2,188 EUR |
| 2023 | 2 | 1,330 EUR | 1,463 EUR |
| 2022 | 2 | 1,356 EUR | 1,188 EUR |
Recognitions · licences · registrations
Food safety, FASFC
3 sitesLokeren2.100.755.328
Lokeren2.256.055.296
Lokeren2.298.384.019
Dual-learning approval
14 live approvals · 1 endedBestuurder interne transportmiddelen duaal (so)
Bestuurder interne transportmiddelen (vwo)
Heftruckchauffeur (vwo)
Logistiek assistent magazijn (vwo)
Logistiek assistent magazijn (vwo)
Logistiek assistent magazijn duaal (so)
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Logistiek assistent magazijn duaal (so)
Logistiek duaal (so)
Magazijnier (vwo)
Magazijnmedewerker (vwo)
Magazijnmedewerker (vwo)
Magazijnmedewerker duaal (so)
Magazijnmedewerker duaal (so)
Reachtruckchauffeur (vwo)
Show 1 ended approval
Magazijnmedewerker (so)
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Of 303 companies in sector 82920 we hold annual accounts for 197. 115 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded07-04-2000
Fiscal year end30-09
Activities, NACEBEL 2025
82920Office administrative, office support and other business support activities
52100Warehousing and storage
E-invoicing
Reachable via Peppol
Peppol ID
0208:0471638348
Registered
27-03-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.