A & PM

Active

Private limited companyfounded 201610 yrs activeAvenue de Malmaison 26, 1410 Waterloo, BelgiumKBO/BCE: BE 0652.904.624

A & PM has been active since 2016 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €234k and a net result of €160k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 22% of 11613 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.3% (very low).

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Checked score

Score 2024

51 / 100

Fair= vs 2023

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability100=

Solvency21▲+13

Growth78=

Stability100

Bankruptcy probability, 12 months

0.3% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €12k at 30 days acceptable

Liquidity short (current ratio 0.32 against 0.2 in 2023), and 77.4% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Six signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 71

Relative position

BE, all sectors

reference

Sector 71

lower

← fewer bankruptcies more bankruptcies →

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Weak solvency vs sector

Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 11613 sector peers (2024).

NBB · sector comparison

Position among 11613 sector peers

Solvency

better than 22%

← weakest strongest →

Growing equity

Equity grew over 2022-2024. Profits are largely retained rather than distributed.

NBB · annual accounts 2024

Equity per financial year

18192021222324

2018 to 2024 · latest year €234k

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 25-09-2025, 56 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 · 9 filings

Deviation from the deadline

2025

not confirmed

2024

56 d late

2023

30 d late

2022

30 d late

2021

25 d late

2020

60 d late

2019

1 d early

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, micro schema

Equity

€234k▲ 88.2%

2023 · €124k

2018: €26k 2019: €27k 2020: €21k 2021: €29k 2022: €67k 2023: €124k

2018 → 2024

Total assets

€1.03M▲ 4.5%

2023 · €987k

2018: €626k 2019: €626k 2020: €581k 2021: €586k 2022: €612k 2023: €987k

2018 → 2024

Net result

€160k▲ 48.2%

2023 · €108k

2018: €-14k 2019: €1k 2020: €-6k 2021: €8k 2022: €87k 2023: €108k

2018 → 2024

Working capital

€-174k▲ 38.8%

2023 · €-284k

2018: €-65k 2019: €-101k 2020: €-114k 2021: €-109k 2022: €-62k 2023: €-284k

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€21k-€29k▲ 37.0%€67k▲ 128%€124k▲ 86.7%€234k▲ 88.2%

Operating result€5k-€26k▲ 430%€114k▲ 345%€146k▲ 28.7%€226k▲ 54.5%

Net result€-6k-€8k€87k▲ 1,009%€108k▲ 23.3%€160k▲ 48.2%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result has risen four years in a row; 2024 is 55% above 2023 and is the highest year so far.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €1.03M

92.0%

Fixed assets €950k▲ 3.9%

Current assets €82k▲ 12.6%

Equity and liabilities €1.03M

22.6%

77.4%

Equity €234k▲ 88.2%

Debt €798k▼ 7.5%

The debt ratio falls from 87.4% to 77.4%: equity grows while debt is paid down.

Key figures and ratios

2024 value · change against 2023

EBITDA

€278k▲

2023 · €215k

Cash flow

€212k▲

2023 · €176k

Solvency

22.6%▲

2023 · 12.6%

Current ratio

0.32▲

2023 · 0.20

Quick ratio

0.32▲

2023 · 0.20

Debt / equity

3.42▼

2023 · 6.95

ROE

68.3%▼

2023 · 86.7%

ROA

15.5%▲

2023 · 10.9%

Interest coverage

16.79▲

2023 · 15.58

Debt

€798k▼

2023 · €863k

Debt ≤ 1 year

€256k▼

2023 · €357k

Debt > 1 year

€487k▼

2023 · €507k

Income taxes

€51k▲

2023 · €28k

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 · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€987k€1.03M▲

Fixed assets21/28€914k€950k▲

Tangible fixed assets22/27€914k€950k▲

Land and buildings22€853k€824k▼

Plant, machinery and equipment23€3k€2k▼

Furniture and vehicles24€48k€80k▲

Other tangible fixed assets26€10k€43k▲

Financial fixed assets28€42€42=

Current assets29/58€73k€82k▲

Amounts receivable within one year40/41€40k€1k▼

Trade receivables40€40k€888▼

Other amounts receivable41€0€373▲

Cash at bank and in hand54/58€28k€78k▲

Deferred charges and accrued income490/1€4k€3k▼

Equity and liabilities

Total equity and liabilities10/49€987k€1.03M▲

Equity10/15€124k€234k▲

Contributions10/11€8k€8k=

Reserves13€97k€206k▲

Distributable reserves133€97k€206k▲

Profit (loss) carried forward14€19k€20k▲

Amounts payable17/49€863k€798k▼

Amounts payable after more than one year17€507k€487k▼

Financial debts170/4€507k€487k▼

Amounts payable within one year42/48€357k€256k▼

Current portion of amounts payable after more than one year42€50k€67k▲

Trade debts44€35k€97k▲

Suppliers440/4€35k€97k▲

Taxes, remuneration and social security45€50k€46k▼

Taxes450/3€50k€46k▼

Other amounts payable47/48€221k€47k▼

Accrued charges and deferred income492/3-€56k

Income statement Code20232024

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€68k€52k▼

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€20k-

Other operating charges640/8€9k€9k▼

Gross operating margin9900€244k€287k▲

Operating profit (loss)9901€146k€226k▲

Financial income75/76B€3k€786▼

Recurring financial income75€3k€3▼

Non-recurring financial income76B€3k€783▼

Financial charges65/66B€14k€17k▲

Recurring financial charges65€14k€17k▲

Profit (loss) for the period before taxes9903€135k€210k▲

Income taxes67/77€28k€51k▲

Profit (loss) for the period9904€108k€160k▲

Profit (loss) for the period to be appropriated9905€108k€160k▲

Appropriation of the result

Profit (loss) to be appropriated9906€125k€179k▲

Profit (loss) brought forward from the previous period14P€17k€19k▲

Transfer from equity791/2€2k-

Transfer to equity691/2€58k€109k▲

To contributions691€2k-

To other reserves6921€56k€109k▲

Profit to be distributed694/7€50k€50k=

Directors or managers695€50k€50k=

The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 14Financial 5Filings 9

2025

25-09

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 56 days late

2024

31-12

Financial Highest result since 2018net €160k ▲48.2%

Operating result €226k, net result €160k, both a record.

31-12

Financial Equity above €200kEq €234k ▲88.2%

4 profitable years in a row build equity to €234k.

30-08

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 30 days late

2023

31-12

Financial Equity above €100kEq €124k ▲86.7%

3 profitable years in a row build equity to €124k.

30-08

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 30 days late

2022

25-08

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 25 days late

2021

31-12

Financial Back to profitnet €8k

Net result €8k after one loss-making year.

29-09

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 60 days late

2020

30-07

NBB filing Annual accounts filed

fiscal year 2019 · micro schema

2019

31-12

Financial Back to profitnet €1k

Net result €1k after one loss-making year.

24-09

NBB filing Annual accounts filed

fiscal year 2018 · micro schema · 55 days late

2018

29-08

NBB filing Annual accounts filed

fiscal year 2017 · micro schema · 29 days late

2017

28-07

NBB filing Annual accounts filed

fiscal year 2016 · micro schema

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

no sitting director, no change since 2023

We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.

13-03-2023 Resigned as Manager

Location & real-estate footprint

Registered office, Waterloo · 1 establishment unit since 2016

establishment The establishment unit on the map

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.

Avenue de Malmaison 261410 Waterloo

Ground area

822 m²

Building footprint

126 m²

Volume, LiDAR