ALPI CONSTRUCT
ActiveSummary
ALPI CONSTRUCT has been active since 1991 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €491,177 and a net result of €37,179. Equity remains stable across the filed financial years (±1.5% per year). The computed 12-month bankruptcy probability is below 0.1% (very low).
Financials · financial year 2025, full format
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€37,179▲ 48.2%
2024 · €25,092
Working capital
-€103,726▼ 45.0%
2024 · -€71,520
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 26% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€65,080
2025
Net result€37,179
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€687,870
2025
Equity€491,177
2025
Debt€196,693
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€103,726
2025
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€23,884-€19,406▼ 18.7%€20,110▲ 3.6%€19,941▼ 0.8%€14,054▼ 29.5%€25,289▲ 79.9%€51,667▲ 104%€65,080▲ 26.0%
Net result€2,777-€845▼ 69.6%€4,926▲ 483%€4,336▼ 12.0%€1,735▼ 60.0%€8,535▲ 392%€25,092▲ 194%€37,179▲ 48.2%
Equity€408,529-€409,374▲ 0.2%€414,300▲ 1.2%€418,636▲ 1.0%€420,371▲ 0.4%€428,906▲ 2.0%€453,998▲ 5.9%€491,177▲ 8.2%
Total assets€812,057-€778,555▼ 4.1%€749,882▼ 3.7%€727,781▼ 2.9%€696,319▼ 4.3%€689,292▼ 1.0%€681,767▼ 1.1%€687,870▲ 0.9%
Debt€403,528-€369,182▼ 8.5%€335,582▼ 9.1%€309,144▼ 7.9%€275,948▼ 10.7%€260,386▼ 5.6%€227,769▼ 12.5%€196,693▼ 13.6%
Working capital-€18,679--€14,572▲ 22.0%-€14,858▼ 2.0%€2,425-€7,453-€48,921▼ 556%-€71,520▼ 46.2%-€103,726▼ 45.0%
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €687,870
Fixed assets
€676,375 ▼ 0.6%
Current assets
€11,495 ▲ 670%
Equity and liabilities €687,870
Equity
€491,177 ▲ 8.2%
Debt
€196,693 ▼ 13.6%
Debt's share of the balance-sheet total falls from 33.4% to 28.6%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€68,979▲
2024 · €57,478
Cash flow
€41,079▲
2024 · €30,903
Current ratio
0.10▲
2024 · 0.02
Debt to equity
0.40▼
2024 · 0.50
ROE
7.6%▲
2024 · 5.5%
ROA
5.4%▲
2024 · 3.7%
Interest coverage
7.69▲
2024 · 3.86
Debt ≤ 1 year
€115,221▲
2024 · €73,012
Debt > 1 year
€81,472▼
2024 · €154,757
Income taxes
€18,926▲
2024 · €11,701
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €36,762 | €36,762 | €36,762 | €37,946 | €39,020 | €4,920 | €5,810 | €3,899 | ▼ 32.9% |
| Other operating charges640/8 | - | - | - | €3,443 | €3,527 | €4,399 | €4,577 | €4,722 | ▲ 3.2% |
| Gross operating margin9900 | €63,756 | €59,342 | €60,092 | €61,330 | €56,601 | €34,608 | €62,055 | €73,701 | ▲ 18.8% |
| Operating profit (loss)9901 | €23,884 | €19,406 | €20,110 | €19,941 | €14,054 | €25,289 | €51,667 | €65,080 | ▲ 26.0% |
| Financial income75/76B | - | - | - | - | - | €1,872 | - | - | - |
| Recurring financial income75 | €432 | - | €2,939 | - | - | €1,872 | - | - | - |
| Financial charges65/66B | - | - | - | €15,334 | €11,090 | €13,351 | €14,874 | €8,974 | ▼ 39.7% |
| Recurring financial charges65 | €19,538 | €18,261 | €16,765 | €15,334 | €11,090 | €13,351 | €14,874 | €8,974 | ▼ 39.7% |
| Profit (loss) for the period before taxes9903 | €4,777 | €1,145 | €6,284 | €4,607 | €2,964 | €13,811 | €36,793 | €56,105 | ▲ 52.5% |
| Income taxes67/77 | €2,000 | €300 | €1,358 | €271 | €1,230 | €5,276 | €11,701 | €18,926 | ▲ 61.8% |
| Profit (loss) for the period9904 | €2,777 | €845 | €4,926 | €4,336 | €1,735 | €8,535 | €25,092 | €37,179 | ▲ 48.2% |
| Profit (loss) for the period to be appropriated9905 | €2,777 | €845 | €4,926 | €4,336 | €1,735 | €8,535 | €25,092 | €37,179 | ▲ 48.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €812,057 | €778,555 | €749,882 | €727,781 | €696,319 | €689,292 | €681,767 | €687,870 | ▲ 0.9% |
| Fixed assets21/28 | €811,654 | €774,893 | €747,605 | €709,659 | €677,424 | €686,085 | €680,274 | €676,375 | ▼ 0.6% |
| Tangible fixed assets22/27 | €291,654 | €254,893 | €227,605 | €189,659 | €157,424 | €166,085 | €160,274 | €156,375 | ▼ 2.4% |
| Land and buildings22 | - | - | - | €189,659 | €157,424 | €166,085 | €160,274 | €156,375 | ▼ 2.4% |
| Financial fixed assets28 | €520,000 | €520,000 | €520,000 | €520,000 | €520,000 | €520,000 | €520,000 | €520,000 | = |
| Current assets29/58 | €403 | €3,663 | €2,277 | €18,122 | €18,895 | €3,207 | €1,493 | €11,495 | ▲ 670% |
| Amounts receivable within one year40/41 | - | €1,700 | - | - | - | - | - | - | - |
| Cash at bank and in hand54/58 | €403 | €1,963 | €2,277 | €18,122 | €18,895 | €3,207 | €1,493 | €11,495 | ▲ 670% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €812,057 | €778,555 | €749,882 | €727,781 | €696,319 | €689,292 | €681,767 | €687,870 | ▲ 0.9% |
| Equity10/15 | €408,529 | €409,374 | €414,300 | €418,636 | €420,371 | €428,906 | €453,998 | €491,177 | ▲ 8.2% |
| Contributions10/11 | €246,753 | €246,753 | €246,753 | €246,753 | €246,753 | €246,753 | €246,753 | €246,753 | = |
| Capital10 | - | - | - | €246,753 | €246,753 | €246,753 | €246,753 | €246,753 | = |
| Issued capital100 | - | - | - | €246,753 | €246,753 | €246,753 | €246,753 | €246,753 | = |
| Reserves13 | €161,776 | €162,621 | €167,547 | €171,883 | €173,618 | €182,152 | €207,245 | €244,424 | ▲ 17.9% |
| Non-distributable reserves130/1 | - | - | - | €24,675 | €24,675 | €24,675 | €24,675 | €24,675 | = |
| Legal reserve130 | - | - | - | €24,675 | €24,675 | €24,675 | €24,675 | €24,675 | = |
| Distributable reserves133 | - | - | - | €147,208 | €148,943 | €157,477 | €182,570 | €219,749 | ▲ 20.4% |
| Amounts payable17/49 | €403,528 | €369,182 | €335,582 | €309,144 | €275,948 | €260,386 | €227,769 | €196,693 | ▼ 13.6% |
| Amounts payable after more than one year17 | €378,447 | €350,947 | €318,447 | €293,447 | €249,600 | €208,258 | €154,757 | €81,472 | ▼ 47.4% |
| Financial debts170/4 | - | - | - | - | - | €13,658 | €5,157 | €81,472 | ▲ 1,480% |
| Other amounts payable178/9 | - | - | - | €293,447 | €249,600 | €194,600 | €149,600 | - | - |
| Amounts payable within one year42/48 | €19,081 | €18,235 | €17,135 | €15,697 | €26,348 | €52,128 | €73,012 | €115,221 | ▲ 57.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | €8,089 | €8,502 | €23,685 | ▲ 179% |
| Financial debts43 | - | - | - | €15,297 | €26,348 | €39,008 | €52,810 | €60,910 | ▲ 15.3% |
| Other loans439 | - | - | - | €15,297 | €26,348 | €39,008 | €52,810 | €60,910 | ▲ 15.3% |
| Trade debts44 | - | - | - | - | - | €545 | - | €12,526 | - |
| Suppliers440/4 | - | - | - | - | - | €545 | - | €12,526 | - |
| Taxes, remuneration and social security45 | - | - | - | €400 | - | €4,485 | €11,700 | €18,100 | ▲ 54.7% |
| Taxes450/3 | - | - | - | €400 | - | €4,485 | €11,700 | €18,100 | ▲ 54.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,777 | €845 | €4,926 | €4,336 | €1,735 | €8,535 | €25,092 | €37,179 | ▲ 48.2% |
| + Depreciation and write-downs630 | €36,762 | €36,762 | €36,762 | €37,946 | €39,020 | €4,920 | €5,810 | €3,899 | ▼ 32.9% |
| Operating cash flow (approximation) | €39,539 | €37,607 | €41,688 | €42,282 | €40,755 | €13,454 | €30,903 | €41,079 | ▲ 32.9% |
| Investment in fixed assets (approximation) | - | €0 | -€9,474 | €0 | -€6,786 | -€13,580 | €0 | €0 | - |
| Change in cash | - | €1,560 | €314 | €15,845 | €773 | -€15,688 | -€1,715 | €10,003 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 35 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 07-07-2026 | 2026-00261889 |
| 31-12-2024 | full format | 27-05-2025 | 2025-00107195 |
| 31-12-2023 | full format | 24-05-2024 | 2024-00095056 |
| 31-12-2022 | abbreviated format | 13-06-2023 | 2023-00122196 |
| 31-12-2021 | abbreviated format | 05-05-2022 | 2022-20022305 |
| 31-12-2020 | abbreviated format | 03-05-2021 | 2021-13100185 |
| 31-12-2019 | full format | 20-05-2020 | 2020-12700203 |
| 31-12-2018 | full format | 30-07-2019 | 2019-41000434 |
| 31-12-2017 | full format | 11-07-2018 | 2018-32300114 |
| 31-12-2016 | full format | 04-07-2017 | 2017-27600274 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.