ALPA
ActiveSummary
ALPA has been active since 1990 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €133,219 and a net result of €19,969. Equity is growing by ~18% per year across the filed fiscal years. Its solvency ranks better than 67% of 7564 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability80▲+1
Solvency85▼-11
Growth78=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days acceptable
Liquidity ample (current ratio 2.21 against 7.56 in 2024; short-term debt: 20.4% and cash: 43.3% of total assets), and 40.1% 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
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more 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
59.9%
Return on assets
9%
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 19-07-2026, 12 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
12 d early
2024
20 d early
2023
23 d early
2022
34 d early
2021
62 d early
2020
72 d early
2019
57 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 40 days before the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed 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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€133,219▼ 24.0%
2024 · €175,359
Total assets
€222,564▼ 9.4%
2024 · €245,644
Net result
€19,969▼ 0.3%
2024 · €20,039
Working capital
€54,893▼ 40.2%
2024 · €91,733
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€20,106▼ 31.8%€43,842▲ 118%€34,691▼ 20.9%€31,869▼ 8.1%€30,861▼ 3.2%
Net result€12,674within the sector's middle half▼ 37.7%€29,435above the sector's middle half▲ 132%€23,451within the sector's middle half▼ 20.3%€20,039within the sector's middle half▼ 14.6%€19,969within the sector's middle half▼ 0.3%
Equity€102,435within the sector's middle half▲ 14.1%€131,870above the sector's middle half▲ 28.7%€155,321above the sector's middle half▲ 17.8%€175,359above the sector's middle half▲ 12.9%€133,219above the sector's middle half▼ 24.0%
Total assets€173,233within the sector's middle half▲ 3.7%€186,775within the sector's middle half▲ 7.8%€241,480within the sector's middle half▲ 29.3%€245,644within the sector's middle half▲ 1.7%€222,564within the sector's middle half▼ 9.4%
Debt€70,798▼ 8.5%€54,905▼ 22.4%€86,159▲ 56.9%€70,285▼ 18.4%€89,345▲ 27.1%
Working capital€24,048▲ 53.6%€56,404▲ 135%€66,641▲ 18.1%€91,733▲ 37.7%€54,893▼ 40.2%
Solvency59.1%within the sector's middle half▲ 5.4pp70.6%above the sector's middle half▲ 11.5pp64.3%above the sector's middle half▼ 6.3pp71.4%above the sector's middle half▲ 7.1pp59.9%within the sector's middle half▼ 11.5pp
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 3% below 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €222,564
Fixed assets
€122,229 ▼ 12.7%
Current assets
€100,335 ▼ 5.1%
Equity and liabilities €222,564
Equity
€133,219 ▼ 24.0%
Debt
€89,345 ▲ 27.1%
Debt's share of the balance-sheet total rises from 28.6% to 40.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€49,598▼
2024 · €50,600
Cash flow
€38,706▼
2024 · €38,769
Current ratio
2.21▼
2024 · 7.56
Debt to equity
0.67▲
2024 · 0.40
ROE
15.0%▲
2024 · 11.4%
ROA
9.0%▲
2024 · 8.2%
Interest coverage
16.11▲
2024 · 13.82
Debt ≤ 1 year
€45,442▲
2024 · €13,980
Debt > 1 year
€43,903▼
2024 · €56,305
Income taxes
€8,116▼
2024 · €8,213
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 31,324 companies that looked in July 2024 the way this one looks now, 0.4% went bankrupt within 24 months and 93% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
0.4%
went bankrupt
5.9%
stopped otherwise
93%
still going
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.7% 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 31,324 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €2,000 | - | €3,500 | €0 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €8,249 | €8,255 | €9,209 | €18,731 | €18,737 | = |
| Other operating charges640/8 | €1,875 | €2,732 | €1,766 | €2,369 | €2,746 | ▲ 15.9% |
| Gross operating margin9900 | €30,230 | €54,829 | €45,666 | €52,969 | €52,344 | ▼ 1.2% |
| Operating profit (loss)9901 | €20,106 | €43,842 | €34,691 | €31,869 | €30,861 | ▼ 3.2% |
| Financial income75/76B | €222 | €5 | €53 | €45 | €302 | ▲ 577% |
| Recurring financial income75 | €222 | €5 | €53 | €45 | €302 | ▲ 577% |
| Financial charges65/66B | €2,536 | €2,566 | €2,048 | €3,663 | €3,078 | ▼ 16.0% |
| Recurring financial charges65 | €2,536 | €2,566 | €2,048 | €3,663 | €3,078 | ▼ 16.0% |
| Profit (loss) for the period before taxes9903 | €17,792 | €41,281 | €32,696 | €28,251 | €28,085 | ▼ 0.6% |
| Income taxes67/77 | €5,118 | €11,846 | €9,245 | €8,213 | €8,116 | ▼ 1.2% |
| Profit (loss) for the period9904 | €12,674 | €29,435 | €23,451 | €20,039 | €19,969 | ▼ 0.3% |
| Profit (loss) for the period to be appropriated9905 | €12,674 | €29,435 | €23,451 | €20,039 | €19,969 | ▼ 0.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €173,233 | €186,775 | €241,480 | €245,644 | €222,564 | ▼ 9.4% |
| Fixed assets21/28 | €121,791 | €115,035 | €156,867 | €139,932 | €122,229 | ▼ 12.7% |
| Tangible fixed assets22/27 | €121,791 | €115,035 | €156,867 | €139,932 | €122,229 | ▼ 12.7% |
| Land and buildings22 | €118,926 | €112,903 | €105,321 | €97,739 | €90,158 | ▼ 7.8% |
| Plant, machinery and equipment23 | €1,896 | €1,413 | €930 | €2,035 | €2,341 | ▲ 15.1% |
| Furniture and vehicles24 | €969 | €719 | €50,616 | €40,157 | €29,730 | ▼ 26.0% |
| Current assets29/58 | €51,442 | €71,740 | €84,613 | €105,712 | €100,335 | ▼ 5.1% |
| Amounts receivable within one year40/41 | €10,933 | €3,250 | €7,483 | €22,434 | €2,144 | ▼ 90.4% |
| Trade receivables40 | €5,212 | - | - | €15,046 | - | - |
| Other amounts receivable41 | €5,721 | €3,250 | €7,483 | €7,388 | €2,144 | ▼ 71.0% |
| Cash at bank and in hand54/58 | €39,149 | €67,624 | €74,341 | €82,146 | €96,290 | ▲ 17.2% |
| Deferred charges and accrued income490/1 | €1,360 | €866 | €2,789 | €1,132 | €1,901 | ▲ 68.0% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €173,233 | €186,775 | €241,480 | €245,644 | €222,564 | ▼ 9.4% |
| Equity10/15 | €102,435 | €131,870 | €155,321 | €175,359 | €133,219 | ▼ 24.0% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Revaluation surpluses12 | €2,905 | €2,905 | €2,905 | €2,905 | €2,905 | = |
| Reserves13 | €89,533 | €118,968 | €142,419 | €162,457 | €124,114 | ▼ 23.6% |
| Non-distributable reserves130/1 | €1,859 | €1,859 | - | - | - | - |
| Reserves not available under the articles1311 | €1,859 | €1,859 | - | - | - | - |
| Distributable reserves133 | €87,674 | €117,109 | €142,419 | €162,457 | €124,114 | ▼ 23.6% |
| Profit (loss) carried forward14 | €3,797 | €3,797 | €3,797 | €3,797 | - | - |
| Amounts payable17/49 | €70,798 | €54,905 | €86,159 | €70,285 | €89,345 | ▲ 27.1% |
| Amounts payable after more than one year17 | €43,404 | €39,569 | €68,187 | €56,305 | €43,903 | ▼ 22.0% |
| Financial debts170/4 | €43,404 | €39,569 | €68,187 | €56,305 | €43,903 | ▼ 22.0% |
| Amounts payable within one year42/48 | €27,394 | €15,336 | €17,972 | €13,980 | €45,442 | ▲ 225% |
| Current portion of amounts payable after more than one year42 | €6,708 | €3,834 | €11,197 | €11,881 | €12,403 | ▲ 4.4% |
| Trade debts44 | €13,798 | €2,928 | €4,364 | €1,112 | €3,330 | ▲ 200% |
| Suppliers440/4 | €13,798 | €2,928 | €4,364 | €1,112 | €3,330 | ▲ 200% |
| Taxes, remuneration and social security45 | €3,917 | €6,646 | €2,345 | €800 | €174 | ▼ 78.3% |
| Taxes450/3 | €3,917 | €6,646 | €2,345 | €800 | €26 | ▼ 96.7% |
| Remuneration and social security454/9 | - | - | - | - | €148 | - |
| Other amounts payable47/48 | €2,971 | €1,928 | €66 | €186 | €29,535 | ▲ 15,743% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €12,674 | €29,435 | €23,451 | €20,039 | €19,969 | ▼ 0.3% |
| + Depreciation and write-downs630 | €8,249 | €8,255 | €9,209 | €18,731 | €18,737 | = |
| Operating cash flow (approximation) | €20,923 | €37,690 | €32,660 | €38,769 | €38,706 | ▼ 0.2% |
| Investment in fixed assets (approximation) | - | -€1,499 | -€51,041 | -€1,795 | -€1,034 | ▲ 42.4% |
| Change in cash | - | €28,475 | €6,717 | €7,805 | €14,144 | ▲ 81.2% |
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
19-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
11-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
08-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Equity above €150,000Eq €155,321 ▲17.8%
5 profitable years in a row build equity to €155,321.
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Highest result since 2018net €29,435 ▲132%
Operating result €43,842, net result €29,435, both a record.
31-12
Financial
Liquidity doublescurrent ratio 4.68
Current ratio from 1.88 to 4.68; short-term debt falls from €27,394 to €15,336.
30-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Equity above €100,000Eq €102,435 ▲14.1%
3 profitable years in a row build equity to €102,435.
20-05
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
04-06
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
31-12
Financial
Back to profitnet €26,668
Net result €26,668 after one loss-making year.
Show earlier events
27-05
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
29-05
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
06-06
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.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Izegem · 2 establishment units since 1990
Ground area
694 m²
Building footprint
170 m²
Volume, LiDAR
1,059 m³
2 parcels, Flanders · tallest building 8.8 m, ±2 floors. Linked by address, not a title deed.
2 establishment units
ALPA BVBA
since 19902.050.093.416
Alpa
since 20162.255.542.087
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 36009B0975/00R002 | Flanders | 494 m² | 1 · 87 m² | 8.8 m · 2 fl. |
| 36009A0165/00F003 | Flanders | 200 m² | 1 · 83 m² | 7.0 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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ALGEMENE BOUWWERKEN GILBERT VANDERCRUYSSEN
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Of 29,787 companies in sector 41001 we hold annual accounts for 16,042. 12,828 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
Founded28-06-1990
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
43320Joinery installation
E-invoicing
Reachable via Peppol
Peppol ID
0208:0440976153
Also
9925:BE0440976153
Registered
21-11-2025
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.