AGAPI
ActiveSummary
AGAPI has been active since 1988 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€86,185) and a net result of €11,587. Equity is growing by ~4.7% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 1.0% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability77▲+46
Solvency0=
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
1.0%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.0 against 0.0 in 2024; short-term debt: 137.1% and cash: 0.3% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
-46.9%
Return on assets
6.3%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 24-07-2026, 7 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
7 d early
2024
29 d late
2023
63 d late
2022
26 d early
2021
2 d early
2020
59 d late
2019
94 d late
← before the deadline
after the deadline →
tick = median of all Belgian filings
This company filed its last 7 accounts on average 30 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
neutral · 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 monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€86,185▲ 11.9%
2024 · -€97,772
Total assets
€183,777▼ 4.0%
2024 · €191,411
Net result
€11,587
2024 · -€8,254
Working capital
-€251,169▲ 4.2%
2024 · -€262,153
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€13,946▲ 1,533%€3,291▼ 76.4%-€1,440-€10,023▼ 596%€13,505
Net result€27,921▲ 56,882%€4,068▼ 85.4%-€3,013-€8,254▼ 174%€11,587
Equity-€90,852▲ 23.5%-€86,784▲ 4.5%-€89,797▼ 3.5%-€97,772▼ 8.9%-€86,185▲ 11.9%
Total assets€231,470▼ 4.6%€222,829▼ 3.7%€212,807▼ 4.5%€191,411▼ 10.1%€183,777▼ 4.0%
Debt€315,522▼ 7.2%€304,063▼ 3.6%€298,304▼ 1.9%€289,183▼ 3.1%€269,963▼ 6.6%
Working capital-€85,988▲ 14.5%-€81,737▲ 4.9%-€83,537▼ 2.2%-€262,153▼ 214%-€251,169▲ 4.2%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €13,505 after a loss of €10,023 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €183,777
Fixed assets
€182,940 ▼ 4.0%
Current assets
€837 ▲ 10.2%
Key figures and ratios
EBITDA
€21,215▲
2024 · €5,428
Cash flow
€19,298▲
2024 · €7,197
Solvency
-46.9%▲
2024 · -51.1%
Current ratio
0.00▲
2024 · 0.00
Debt to equity
-3.13▼
2024 · -2.96
ROA
6.3%▲
2024 · -4.3%
Interest coverage
9.79▲
2024 · 2.14
Debt ≤ 1 year
€252,006▼
2024 · €262,914
Debt > 1 year
€17,081▼
2024 · €25,395
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 3,798 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 91% are still going.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
2.5%
went bankrupt
5.3%
stopped otherwise
91%
still going
A further 0.8% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.0% 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 497,662 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% | 1.7% |
| 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 75% 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 3,798 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 |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,431 | €9,988 | €10,022 | €15,451 | €7,711 | ▼ 50.1% |
| Other operating charges640/8 | €2,852 | €3,122 | €3,300 | €3,508 | €3,941 | ▲ 12.3% |
| Non-recurring operating charges66A | - | - | - | €2,811 | €37 | ▼ 98.7% |
| Gross operating margin9900 | €27,229 | €16,401 | €11,882 | €11,748 | €25,194 | ▲ 114% |
| Operating profit (loss)9901 | €13,946 | €3,291 | -€1,440 | -€10,023 | €13,505 | ▲ 235% |
| Financial income75/76B | €2,348 | €2,612 | - | - | €250 | - |
| Recurring financial income75 | €2,348 | €2,612 | - | - | €250 | - |
| Financial charges65/66B | €3,023 | €3,085 | €2,823 | €2,532 | €2,168 | ▼ 14.4% |
| Recurring financial charges65 | €3,023 | €3,085 | €2,823 | €2,532 | €2,168 | ▼ 14.4% |
| Profit (loss) for the period before taxes9903 | €13,271 | €2,818 | -€4,263 | -€12,554 | €11,587 | ▲ 192% |
| Transfer from deferred taxes780 | €14,650 | €1,250 | €1,250 | €4,300 | €0 | ▼ 100% |
| Profit (loss) for the period9904 | €27,921 | €4,068 | -€3,013 | -€8,254 | €11,587 | ▲ 240% |
| Transfer from tax-exempt reserves789 | €20,750 | €3,750 | €3,750 | €8,485 | €0 | ▼ 100% |
| Profit (loss) for the period to be appropriated9905 | €48,671 | €7,818 | €737 | €231 | €11,587 | ▲ 4,911% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €231,470 | €222,829 | €212,807 | €191,411 | €183,777 | ▼ 4.0% |
| Fixed assets21/28 | €51,358 | €42,717 | €32,695 | €190,651 | €182,940 | ▼ 4.0% |
| Tangible fixed assets22/27 | €45,608 | €36,967 | €26,945 | €190,651 | €182,940 | ▼ 4.0% |
| Land and buildings22 | €45,453 | €36,967 | €26,945 | €189,923 | €182,482 | ▼ 3.9% |
| Plant, machinery and equipment23 | €155 | - | - | €728 | €458 | ▼ 37.0% |
| Financial fixed assets28 | €5,750 | €5,750 | €5,750 | €0 | - | - |
| Current assets29/58 | €180,112 | €180,112 | €180,112 | €760 | €837 | ▲ 10.2% |
| Stocks and contracts in progress3 | €179,157 | €179,157 | €179,157 | €0 | - | - |
| Stocks30/36 | €179,157 | €179,157 | €179,157 | €0 | - | - |
| Amounts receivable within one year40/41 | €955 | €955 | €955 | €760 | €0 | ▼ 100% |
| Trade receivables40 | - | - | - | €760 | €0 | ▼ 100% |
| Other amounts receivable41 | €955 | €955 | €955 | €0 | - | - |
| Cash at bank and in hand54/58 | - | - | - | - | €484 | - |
| Deferred charges and accrued income490/1 | - | - | - | - | €353 | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €231,470 | €222,829 | €212,807 | €191,411 | €183,777 | ▼ 4.0% |
| Equity10/15 | -€90,852 | -€86,784 | -€89,797 | -€97,772 | -€86,185 | ▲ 11.9% |
| Contributions10/11 | €18,592 | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Capital10 | €18,592 | - | - | - | - | - |
| Issued capital100 | €18,592 | - | - | - | - | - |
| Outside capital11 | - | €18,592 | €18,592 | - | - | - |
| Other1109/19 | - | €18,592 | €18,592 | - | - | - |
| Reserves13 | €22,803 | €19,052 | €15,303 | €0 | - | - |
| Non-distributable reserves130/1 | €1,860 | €1,859 | €1,860 | €0 | - | - |
| Legal reserve130 | €1,860 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | €1,859 | €1,860 | €0 | - | - |
| Tax-exempt reserves132 | €15,985 | €12,235 | €8,485 | €0 | - | - |
| Distributable reserves133 | €4,958 | €4,958 | €4,958 | €0 | - | - |
| Profit (loss) carried forward14 | -€132,247 | -€124,428 | -€123,692 | -€116,365 | -€104,777 | ▲ 10.0% |
| Provisions and deferred taxes16 | €6,800 | €5,550 | €4,300 | €0 | - | - |
| Deferred taxes168 | €6,800 | €5,550 | €4,300 | €0 | - | - |
| Amounts payable17/49 | €315,522 | €304,063 | €298,304 | €289,183 | €269,963 | ▼ 6.6% |
| Amounts payable after more than one year17 | €49,422 | €42,214 | €34,655 | €25,395 | €17,081 | ▼ 32.7% |
| Financial debts170/4 | €48,089 | €40,881 | €33,322 | €25,395 | €17,081 | ▼ 32.7% |
| Other amounts payable178/9 | €1,333 | €1,333 | €1,333 | €0 | - | - |
| Amounts payable within one year42/48 | €266,100 | €261,849 | €263,649 | €262,914 | €252,006 | ▼ 4.1% |
| Current portion of amounts payable after more than one year42 | €6,873 | €7,208 | €7,560 | €7,927 | €8,313 | ▲ 4.9% |
| Financial debts43 | €2,480 | €2,329 | €2,429 | €1,105 | €0 | ▼ 100% |
| Credit institutions430/8 | €2,480 | €2,329 | €2,429 | €1,105 | €0 | ▼ 100% |
| Trade debts44 | €2,900 | €801 | €1,810 | €4,302 | €4,316 | ▲ 0.3% |
| Suppliers440/4 | €2,900 | €801 | €1,810 | €4,302 | €4,316 | ▲ 0.3% |
| Other amounts payable47/48 | €253,847 | €251,511 | €251,850 | €249,579 | €239,377 | ▼ 4.1% |
| Accrued charges and deferred income492/3 | - | - | - | €875 | €875 | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €27,921 | €4,068 | -€3,013 | -€8,254 | €11,587 | ▲ 240% |
| + Depreciation and write-downs630 | €10,431 | €9,988 | €10,022 | €15,451 | €7,711 | ▼ 50.1% |
| Operating cash flow (approximation) | €38,352 | €14,056 | €7,009 | €7,197 | €19,298 | ▲ 168% |
| Investment in fixed assets (approximation) | - | -€1,347 | €0 | -€173,407 | €0 | ▲ 100% |
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
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Back to profitnet €11,587
Net result €11,587 after 2 loss-making years.
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial
Weakest financial yearnet -€8,254
Net result drops to -€8,254, the lowest in the series; recovery starts the following year.
02-10
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 63 days late
2023
05-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2018net €27,921 ▲56,882%
Operating result €13,946, net result €27,921, both a record.
28-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 59 days late
2020
02-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 94 days late
2019
10-10
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 71 days late
2018
29-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 60 days late
2017
29-11
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 121 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 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
3 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, Tournai · 1 establishment unit since 1988
Ground area
1,482 m²
Building footprint
103 m²
Volume, LiDAR
1,010 m³
Parcel 57463L0294/00M000, Wallonia · tallest building 12.0 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
AGAPI
since 19882.037.515.484
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 57463L0294/00M000 | Wallonia | 1,482 m² | 1 · 103 m² | 12.0 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Identification & contact
Identification
Legal formPrivate limited company
Founded30-03-1988
Fiscal year end31-12
E-invoicing
Reachable via Peppol
Peppol ID
0208:0433890106
Also
9925:BE0433890106
Registered
26-03-2025
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.