ALPENCO
ActiveSummary
ALPENCO has been active since 2003 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €181,767 and a net result of -€6,347. Equity remains stable across the filed fiscal years (±0.6% per year). Its solvency ranks better than 76% of 1329 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 1.2% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability16▼-13
Solvency94▲+1
Growth32=
Track record100
Bankruptcy probability, 12 months
1.2%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days acceptable
Liquidity ample (current ratio 3.16 against 3.07 in 2023; short-term debt: 31.5% and cash: 61.5% of total assets), and 31.5% of the assets are financed with debt.
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Signals
Six 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 · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 42
Relative position
BE, all sectors
reference
Civil engineering (NACE 42)
about 27% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2024Solvency, return and age of the figures
Solvency
68.5%
Return on assets
-2.4%
Age of the figures
21 mo
raises risk · Persistent losses
Two consecutive loss-making years (2023 and 2024); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2024Net result per financial year
18192021222324
2018 to 2024 · latest year -€6,347
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-09-2025, 60 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 filingsDeviation from the deadline
2025
not confirmed
2024
60 d late
2023
61 d late
2022
67 d late
2021
123 d late
2020
88 d late
2019
453 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 142 days after the deadline; the sector median for financial year 2024 is 2 days before the deadline, and 41% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
How much credit can you give this customer, and on what term?Credit check What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file Which of your other customers can you e-invoice via Peppol?Peppol check How does this company compare with its sector?Sector benchmark
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Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, micro schema
Equity
€181,767▼ 3.4%
2023 · €188,114
Total assets
€265,317▼ 4.6%
2023 · €278,176
Net result
-€6,347▲ 29.5%
2023 · -€8,998
Working capital
€180,500▼ 3.2%
2023 · €186,420
Trend over the years
In euros
In per cent
Ratio
In full-time equivalents (FTE)
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
In full-time equivalents (FTE)
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 42, Civil engineering, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result-€12,036▼ 404%€17,993-€6,268-€650▲ 89.6%-€5,744▼ 784%
Net result-€9,456below the sector's middle half€18,573within the sector's middle half-€4,900below the sector's middle half-€8,998below the sector's middle half▼ 83.6%-€6,347below the sector's middle half▲ 29.5%
Equity€183,439above the sector's middle half▼ 4.9%€202,012above the sector's middle half▲ 10.1%€197,112above the sector's middle half▼ 2.4%€188,114above the sector's middle half▼ 4.6%€181,767above the sector's middle half▼ 3.4%
Total assets€284,890within the sector's middle half▼ 12.4%€300,017within the sector's middle half▲ 5.3%€281,727within the sector's middle half▼ 6.1%€278,176within the sector's middle half▼ 1.3%€265,317within the sector's middle half▼ 4.6%
Debt€101,450▼ 23.3%€98,005▼ 3.4%€84,616▼ 13.7%€90,062▲ 6.4%€83,550▼ 7.2%
Working capital€183,274above the sector's middle half▼ 4.5%€198,702above the sector's middle half▲ 8.4%€195,231above the sector's middle half▼ 1.7%€186,420above the sector's middle half▼ 4.5%€180,500above the sector's middle half▼ 3.2%
Solvency64.4%within the sector's middle half▲ 5.1pp67.3%above the sector's middle half▲ 2.9pp70.0%above the sector's middle half▲ 2.6pp67.6%above the sector's middle half▼ 2.3pp68.5%above the sector's middle half▲ 0.9pp
Current ratio2.81above the sector's middle half▲ 0.363.03above the sector's middle half▲ 0.223.31above the sector's middle half▲ 0.283.07above the sector's middle half▼ 0.243.16above the sector's middle half▲ 0.09
Return on assets (ROA)-3.3%below the sector's middle half▼ 4.4pp6.2%within the sector's middle half▲ 9.5pp-1.7%below the sector's middle half▼ 7.9pp-3.2%below the sector's middle half▼ 1.5pp-2.4%below the sector's middle half▲ 0.8pp
Staff (FTE)0.3
above
within
below
the middle half (P25 to P75) of NACE 42, Civil engineering, 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 stays negative: a loss of €5,744 in 2024 against €650 in 2023; the loss grows.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €265,317
Fixed assets
€1,267 ▼ 25.2%
Current assets
€264,050 ▼ 4.5%
Equity and liabilities €265,317
Equity
€181,767 ▼ 3.4%
Debt
€83,550 ▼ 7.2%
Debt's share of the balance-sheet total falls from 32.4% to 31.5%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€5,317▼
2023 · -€588
Cash flow
-€5,920▲
2023 · -€8,936
Debt to equity
0.46▼
2023 · 0.48
ROE
-3.5%▲
2023 · -4.8%
Interest coverage
-8.82
Debt ≤ 1 year
€83,550▼
2023 · €90,062
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 12,321 companies that looked in July 2024 the way this one looks now, 0.7% went bankrupt within 24 months and 90% are still going.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
0.7%
went bankrupt
8.6%
stopped otherwise
90%
still going
A further 0.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 1.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
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 12,321 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €3,553 | - | - |
| Remuneration, social security and pensions62 | - | - | - | €4,779 | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €874 | €979 | €1,430 | €62 | €427 | ▲ 589% |
| Other operating charges640/8 | - | €25 | - | €5,434 | - | - |
| Gross operating margin9900 | -€8,161 | €18,998 | -€4,838 | €9,625 | -€5,317 | ▼ 155% |
| Operating profit (loss)9901 | -€12,036 | €17,993 | -€6,268 | -€650 | -€5,744 | ▼ 784% |
| Financial income75/76B | - | €1,187 | €45 | - | - | - |
| Recurring financial income75 | €2,895 | €1,187 | €45 | - | - | - |
| Financial charges65/66B | - | €608 | €726 | - | €603 | - |
| Recurring financial charges65 | €168 | €608 | €726 | - | €603 | - |
| Profit (loss) for the period before taxes9903 | -€9,308 | €18,573 | -€6,948 | -€650 | -€6,347 | ▼ 876% |
| Income taxes67/77 | €148 | - | -€2,048 | €8,348 | - | - |
| Profit (loss) for the period9904 | -€9,456 | €18,573 | -€4,900 | -€8,998 | -€6,347 | ▲ 29.5% |
| Profit (loss) for the period to be appropriated9905 | -€9,456 | €18,573 | -€4,900 | -€8,998 | -€6,347 | ▲ 29.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €284,890 | €300,017 | €281,727 | €278,176 | €265,317 | ▼ 4.6% |
| Fixed assets21/28 | €166 | €3,310 | €1,880 | €1,694 | €1,267 | ▼ 25.2% |
| Tangible fixed assets22/27 | €166 | €3,310 | €1,880 | €1,694 | €1,267 | ▼ 25.2% |
| Plant, machinery and equipment23 | - | - | - | €1,694 | €1,267 | ▼ 25.2% |
| Furniture and vehicles24 | - | €3,310 | €1,880 | - | - | - |
| Current assets29/58 | €284,724 | €296,707 | €279,847 | €276,482 | €264,050 | ▼ 4.5% |
| Stocks and contracts in progress3 | €119,315 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €92,534 | €242,031 | €271,556 | €113,191 | €100,879 | ▼ 10.9% |
| Trade receivables40 | - | €153,187 | €185,208 | €23,538 | €10,132 | ▼ 57.0% |
| Other amounts receivable41 | - | €88,844 | €86,348 | €89,653 | €90,747 | ▲ 1.2% |
| Cash at bank and in hand54/58 | €72,875 | €54,172 | €8,291 | €163,291 | €163,171 | ▼ 0.1% |
| Deferred charges and accrued income490/1 | - | €503 | - | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €284,890 | €300,017 | €281,727 | €278,176 | €265,317 | ▼ 4.6% |
| Equity10/15 | €183,439 | €202,012 | €197,112 | €188,114 | €181,767 | ▼ 3.4% |
| Contributions10/11 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €26,431 | €26,431 | €26,431 | €26,431 | €26,431 | = |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | €24,571 | €24,571 | €24,571 | €24,571 | = |
| Profit (loss) carried forward14 | €138,409 | €156,981 | €152,081 | €143,083 | €136,736 | ▼ 4.4% |
| Amounts payable17/49 | €101,450 | €98,005 | €84,616 | €90,062 | €83,550 | ▼ 7.2% |
| Amounts payable within one year42/48 | €101,450 | €98,005 | €84,616 | €90,062 | €83,550 | ▼ 7.2% |
| Trade debts44 | €4,938 | €2,539 | €1,406 | €5,190 | €1,857 | ▼ 64.2% |
| Suppliers440/4 | - | €2,539 | €1,406 | €5,190 | €1,857 | ▼ 64.2% |
| Taxes, remuneration and social security45 | - | €2,048 | - | €1,663 | €1,373 | ▼ 17.4% |
| Taxes450/3 | - | €2,048 | - | €214 | - | - |
| Remuneration and social security454/9 | - | - | - | €1,449 | €1,373 | ▼ 5.2% |
| Other amounts payable47/48 | - | €93,418 | €83,209 | €83,209 | €80,320 | ▼ 3.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€9,456 | €18,573 | -€4,900 | -€8,998 | -€6,347 | ▲ 29.5% |
| + Depreciation and write-downs630 | €874 | €979 | €1,430 | €62 | €427 | ▲ 589% |
| Operating cash flow (approximation) | -€8,582 | €19,552 | -€3,471 | -€8,936 | -€5,920 | ▲ 33.8% |
| Investment in fixed assets (approximation) | - | -€4,124 | €0 | €124 | €0 | ▼ 100% |
| Change in cash | - | -€18,703 | -€45,881 | €155,000 | -€120 | ▼ 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
2025
29-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 60 days late
2024
30-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 61 days late
2023
06-10
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 67 days late
2022
01-12
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 123 days late
2021
31-12
Financial
Back to profitnet €18,573
Net result €18,573 after one loss-making year.
31-12
Financial
Equity above €200,000Eq €202,012 ▲10.1%
Equity rises from €183,439 to €202,012.
27-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 88 days late
27-10
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 453 days late
2020
31-12
Financial
Weakest financial yearnet -€9,456
Net result drops to -€9,456, the lowest in the series; recovery starts the following year.
2019
18-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 49 days late
2018
27-09
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 58 days late
2017
28-09
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 59 days late
2016
31-08
NBB filing
Annual accounts filed
fiscal year 2015 · full schema · 31 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 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
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, Brussel · 1 establishment unit since 2003
Ground area
753 m²
Building footprint
143 m²
Volume, LiDAR
1,253 m³
Parcel 21815D0331/00R000, Brussels · tallest building 13.2 m, ±3 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Alpenco
since 20032.126.858.127
1 parcel
Brussels
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 21815D0331/00R000 | Brussels | 752 m² | 1 · 143 m² | 13.2 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.
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Of 1,823 companies in sector 42220 we hold annual accounts for 959. 684 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
Founded11-02-2003
Fiscal year end31-12
Activities, NACEBEL 2025
42220Construction of utility projects for electricity and telecommunications
E-invoicing
Reachable via Peppol
Peppol ID
0208:0479521577
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.