A Vapps

Active

Private limited companyfounded 201313 yrs activeKerkdreef 8, 9051 Gent, BelgiumKBO/BCE: BE 0533.721.021

A Vapps has been active since 2013 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €36k and a net result of €-32k. Equity is growing by ~9.4% per year across the filed fiscal years. Its solvency ranks better than 28% of 1987 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).

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Checked score

Score 2025

46 / 100

Fair

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2024

Profitability0▼-84

Solvency45▼-40

Growth32▼-46

Track record100

Bankruptcy probability, 12 months

0.3% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €1.5k at 30 days acceptable

Liquidity tight (current ratio 1.4 against 3.58 in 2024; short-term debt: 51.6% and cash: 0.3% of total assets), and 80.4% 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 90

Relative position

BE, all sectors

reference

Sector 90

lower

← fewer bankruptcies more bankruptcies →

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 2025

Solvency, return and age of the figures

Solvency

19.6%

Return on assets

-17.3%

Age of the figures

9 mo

Long track record

A company with a long track record statistically fails less often than a young one.

KBO · incorporation date

Age against the risk zone

Filed after the deadline

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 14-09-2026, 45 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 filings

Deviation from the deadline

2025

45 d late

2024

60 d late

2023

29 d late

2022

31 d late

2021

69 d late

2020

3 d early

2019

11 d late

← before the deadline after the deadline →

The next deadline is still running

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.

Companies Code · seven months

Position in the running window

22-09-2026 today31-12-2026 close31-07-2027 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 2025, micro schema

Equity

€36k▼ 67.1%

2024 · €110k

2018: €44k 2019: €55k 2020: €59k 2021: €62k 2022: €65k 2023: €87k 2024: €110k

2018 → 2025

Total assets

€185k▲ 0.9%

2024 · €183k

2018: €137k 2019: €306k 2020: €226k 2021: €282k 2022: €186k 2023: €145k 2024: €183k

2018 → 2025

Net result

€-32k

2024 · €23k

2018: €9k 2019: €23k 2020: €5k 2021: €24k 2022: €18k 2023: €30k 2024: €23k

2018 → 2025

Working capital

€38k▼ 54.6%

2024 · €84k

2018: €39k 2019: €50k 2020: €56k 2021: €39k 2022: €47k 2023: €73k 2024: €84k

2018 → 2025

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20212022202320242025Trend

Equity€62k-€65k▲ 5.1%€87k▲ 33.4%€110k▲ 26.2%€36k▼ 67.1%

Operating result€43k-€88k▲ 103%€41k▼ 53.1%€42k▲ 1.9%€-23k

Net result€24k-€18k▼ 26.7%€30k▲ 68.8%€23k▼ 24.8%€-32k

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

Result per fiscal year

Operating resultNet result

The operating result turns negative in 2025: a loss of €23k after €42k in 2024, the lowest result in the available series.

Balance-sheet composition

2025 in colour, 2024 as the grey bar beneath

Assets €185k

27.7%

72.3%

Fixed assets €51k▼ 22.9%

Current assets €134k▲ 14.3%

Equity and liabilities €185k

19.6%

80.4%

Equity €36k▼ 67.1%

Debt €149k▲ 103%

The debt ratio rises from 40.1% to 80.4%. Equity is lower and debt is higher.

Key figures and ratios

2025 value · change against 2024

EBITDA

€-7k▼

2024 · €47k

Cash flow

€-17k▼

2024 · €28k

Solvency

19.6%▼

2024 · 59.9%

Current ratio

1.40▼

2024 · 3.58

Quick ratio

0.70▼

2024 · 2.17

Debt / equity

4.11▲

2024 · 0.67

ROE

-88.5%▼

2024 · 20.7%

ROA

-17.3%▼

2024 · 12.4%

Interest coverage

-1.60▼

2024 · 22.92

Debt

€149k▲

2024 · €73k

Debt ≤ 1 year

€95k▲

2024 · €33k

Debt > 1 year

€53k▲

2024 · €41k

Income taxes

€5k▼

2024 · €20k

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€183k€185k▲

Fixed assets21/28€66k€51k▼

Intangible fixed assets21€1k€532▼

Tangible fixed assets22/27€65k€51k▼

Furniture and vehicles24€59k€46k▼

Other tangible fixed assets26€6k€4k▼

Current assets29/58€117k€134k▲

Stocks and contracts in progress3€46k€67k▲

Stocks30/36€46k€67k▲

Amounts receivable within one year40/41€51k€63k▲

Trade receivables40€11k€53k▲

Other amounts receivable41€40k€10k▼

Cash at bank and in hand54/58€15k€558▼

Deferred charges and accrued income490/1€5k€3k▼

Equity and liabilities

Total equity and liabilities10/49€183k€185k▲

Equity10/15€110k€36k▼

Contributions10/11€19k€19k=

Reserves13€91k€44k▼

Distributable reserves133€91k€44k▼

Profit (loss) carried forward14€0€-27k▼

Amounts payable17/49€73k€149k▲

Amounts payable after more than one year17€41k€53k▲

Financial debts170/4€41k€53k▲

Amounts payable within one year42/48€33k€95k▲

Current portion of amounts payable after more than one year42€9k€16k▲

Financial debts43€8k€8k▼

Credit institutions430/8€8k€8k▼

Trade debts44€8k€61k▲

Suppliers440/4€8k€61k▲

Taxes, remuneration and social security45€7k€3k▼

Taxes450/3€6k€3k▼

Remuneration and social security454/9€1k€0▼

Other amounts payable47/48€480€7k▲

Income statement Code20242025

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€5k€15k▲

Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4€0€-18k▼

Other operating charges640/8€8k€2k▼

Non-recurring operating charges66A-€35k

Gross operating margin9900€56k€12k▼

Operating profit (loss)9901€42k€-23k▼

Financial income75/76B€2k€40▼

Recurring financial income75€2k€40▼

Financial charges65/66B€2k€5k▲

Recurring financial charges65€2k€5k▲

Profit (loss) for the period before taxes9903€42k€-27k▼

Income taxes67/77€20k€5k▼

Profit (loss) for the period9904€23k€-32k▼

Profit (loss) for the period to be appropriated9905€23k€-32k▼

Appropriation of the result

Profit (loss) to be appropriated9906€23k€-32k▼

Profit (loss) brought forward from the previous period14P€63€0▼

Transfer from equity791/2-€47k

Transfer to equity691/2€23k€0▼

To other reserves6921€23k€0▼

Profit to be distributed694/7€0€42k▲

Return on contributions (dividend)694-€42k

Directors or managers695€0-

The notes to these accounts (11 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 13Financial 3Filings 10

Next filing, fiscal year 2026, expected by 31-07-2027

2026

14-09

NBB filing Annual accounts filed

fiscal year 2025 · micro schema · 45 days late

2025

31-12

Financial Weakest financial yearnet €-32k ▼240%

Net result drops to €-32k, the lowest in the series.

29-09

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 60 days late

2024

31-12

Financial Equity above €100kEq €110k ▲26.2%

7 profitable years in a row build equity to €110k.

29-08

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 29 days late

2023

31-12

Financial Highest result since 2018net €30k ▲68.8%

Net result €30k, the highest in the series.

31-08

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 31 days late

2022

08-10

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 69 days late

2021

28-07

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

2020

11-08

NBB filing Annual accounts filed

fiscal year 2019 · micro schema · 11 days late

2019

30-08

NBB filing Annual accounts filed

fiscal year 2018 · micro schema · 30 days late

2018

29-08

NBB filing Annual accounts filed

fiscal year 2017 · micro schema · 29 days late

2017

21-08

NBB filing Annual accounts filed

fiscal year 2016 · micro schema · 21 days late

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

Directors · office · real estate

Directors

2 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, Gent · 1 establishment unit since 2013

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.

Kerkdreef 89051 Gent

Ground area

301 m²

Building footprint

127 m²

Volume, LiDAR

683 m³

Parcel 44062D0223/00P000, Flanders · tallest building 10.3 m, ±2 floors. Linked by address, not a title deed.

1 establishment unit

AVapps

Kerkdreef 8, 9051 GentArts creation and performing arts activities

since 20132.218.893.311

1 parcel

Flanders 1 (100%)

Parcel (capakey)	Region	Area	Buildings	Height / fl.
44062D0223/00P000 ProtectedTownscape or village viewParochiekerk en pastorie Sint-Denijs met omgevingSource ↗	Flanders	301 m²	1 · 126 m²	10.3 m · 2 fl.