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ALPICA

Active
Private limited companyfounded 200817 yrs activeAvenue Bourgys (Henri) 76, 1410 Waterloo, BelgiumKBO/BCE: BE 0808.847.762
Summary

ALPICA has been active since 2008 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €376,135 and a net result of €24,252. Equity remains stable across the filed fiscal years (±0.4% per year). Its solvency ranks better than 67% of 37948 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).

Checked score

Score 2024
Axes · tick = 2023
Profitability75▲+7
Solvency98▲+4
Growth78▲+46
Track record100
Bankruptcy probability, 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €30,000 at 30 days acceptable
Liquidity short (current ratio 0.28 against 0.36 in 2023; short-term debt: 27.1% and cash: 6% of total assets), and 27.2% of the assets are financed with debt.
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Signals

Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer 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 date
Age against the risk zone
highest failure risk from 2 to 8 years 17 years 0 20 y
raises risk · Higher-failure-rate region
In this region companies fail more often than in the rest of the country.
KBO · registered office
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 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
not confirmed
2024
29 d late
2023
50 d late
2022
70 d late
2021
5 d late
2020
88 d late
2019
112 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 59 days after the deadline; the sector median for financial year 2024 is 9 days before the deadline, and 32% of the sector filed late.

Checked, nothing found (1)
neutral · 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

History

On 26 December 2008, ALPICA was incorporated.1 Total assets went from EUR 1.1 million in 2018 to EUR 516,763 in 2024 and headcount from 1 to 1 full-time equivalents.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2018 and 2024

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Financials · fiscal year 2024, micro schema

Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€24,252
2023 · -€2,871
Working capital
-€101,454▼ 3.3%
2023 · -€98,244
Trend over the years

Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, 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
Line20202021202220232024
Operating result€36,739▼ 38.1%€6,558▼ 82.1%-€60,767€148€28,275▲ 18,962%
Net result€17,418within the sector's middle half▼ 42.3%€13,865within the sector's middle half▼ 20.4%-€63,102below the sector's middle half-€2,871below the sector's middle half▲ 95.4%€24,252within the sector's middle half
Equity€407,335within the sector's middle half▲ 4.5%€417,856above the sector's middle half▲ 2.6%€354,754above the sector's middle half▼ 15.1%€351,882above the sector's middle half▼ 0.8%€376,135above the sector's middle half▲ 6.9%
Total assets€1.2mwithin the sector's middle half▲ 1.6%€539,253above the sector's middle half▼ 53.5%€511,624above the sector's middle half▼ 5.1%€506,834above the sector's middle half▼ 0.9%€516,763above the sector's middle half▲ 2.0%
Debt€751,476▲ 0.1%€121,397▼ 83.8%€156,870▲ 29.2%€154,951▼ 1.2%€140,628▼ 9.2%
Working capital-€418,519▼ 0.5%-€73,782▲ 82.4%-€115,716▼ 56.8%-€98,244▲ 15.1%-€101,454▼ 3.3%
Solvency35.2%within the sector's middle half▲ 1.0pp77.5%within the sector's middle half▲ 42.3pp69.3%within the sector's middle half▼ 8.1pp69.4%within the sector's middle half▲ 0.1pp72.8%within the sector's middle half▲ 3.4pp
Staff (FTE)1below the sector's middle half=1=1=1=1=
above within below the middle half (P25 to P75) of NACE 70, Activities of head offices; management consultancy activities, each year against the same schema; no band under 30 filings.
Result per fiscal year
Operating resultNet result
-€75,000-€50,000-€25,000€0€25,000Operating result 2020: €36,739€36,739Net result 2020: €17,418€17,418Operating result 2021: €6,558€6,558Net result 2021: €13,865€13,865Operating result 2022: -€60,767-€60,767Net result 2022: -€63,102-€63,102Operating result 2023: €148€148Net result 2023: -€2,871-€2,871Operating result 2024: €28,275€28,275Net result 2024: €24,252€24,25220202021202220232024-€75,000-€50,000-€25,000€0€25,000Operating result 2022: -€60,767-€60,800Net result 2022: -€63,102-€63,100Operating result 2023: €148€148Net result 2023: -€2,871-€2,870Operating result 2024: €28,275€28,300Net result 2024: €24,252€24,300202220232024
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 18,962% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €516,763
Fixed assets €477,978 ▲ 6.1%
Current assets €38,785 ▼ 31.1%
Equity and liabilities €516,763
Equity €376,135 ▲ 6.9%
Debt €140,628 ▼ 9.2%
Debt's share of the balance-sheet total falls from 30.6% to 27.2%. Equity is higher and debt is lower.
Key figures and ratios
2024 value · change against 2023
EBITDA
€50,738▲
2023 · €21,438
Cash flow
€46,715▲
2023 · €18,418
Current ratio
0.28▼
2023 · 0.36
Debt to equity
0.37▼
2023 · 0.44
ROE
6.4%▲
2023 · -0.8%
ROA
4.7%▲
2023 · -0.6%
Interest coverage
36.20▲
2023 · 8.45
Debt ≤ 1 year
€140,238▼
2023 · €154,540
Income taxes
€2,621▲
2023 · €482
Staff costs
€42,815▼
2023 · €44,928
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.

Peer companies

Historical observation

Of the 10,891 companies that looked in July 2024 the way this one looks now, 0.6% went bankrupt within 24 months and 95% are still going.

  • Micro
  • 10 to 20 years old
  • solvency 30% or more
  • a profit under 5% of the balance sheet
0.6% went bankrupt
4.0% stopped otherwise
95% still going

A further 0.3% stopped, but we cannot tell whether within those 24 months.

For this company itself Checked computes a bankruptcy probability of 0.2% 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%.

The companies in ten equal groups, from lowest to highest expected share.
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 10,891 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
Filed annual accounts As filed with the NBB · 2024 against 2023 · 43 lines
Balance sheet Code20232024
Assets
Total assets20/58€506,834€516,763▲
Fixed assets21/28€450,538€477,978▲
Tangible fixed assets22/27€450,538€477,978▲
Land and buildings22€448,538€427,883▼
Plant, machinery and equipment23-€46,306
Furniture and vehicles24€2,000€3,790▲
Current assets29/58€56,296€38,785▼
Amounts receivable within one year40/41€3,000€3,000=
Trade receivables40€3,000€3,000=
Cash at bank and in hand54/58€45,874€31,178▼
Deferred charges and accrued income490/1€7,422€4,607▼
Equity and liabilities
Total equity and liabilities10/49€506,834€516,763▲
Equity10/15€351,882€376,135▲
Contributions10/11€146,048€146,048=
Reserves13€13,865€38,117▲
Distributable reserves133€13,865€38,117▲
Profit (loss) carried forward14€191,969€191,969=
Amounts payable17/49€154,951€140,628▼
Amounts payable within one year42/48€154,540€140,238▼
Trade debts44€4,420€6,596▲
Suppliers440/4€4,420€6,596▲
Taxes, remuneration and social security45€13,761€10,783▼
Taxes450/3€4,566€3,818▼
Remuneration and social security454/9€9,196€6,965▼
Other amounts payable47/48€136,359€122,860▼
Accrued charges and deferred income492/3€412€390▼
Income statement Code20232024
Remuneration, social security and pensions62€44,928€42,815▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€21,289€22,463▲
Other operating charges640/8€4,562€4,854▲
Gross operating margin9900€70,927€98,407▲
Operating profit (loss)9901€148€28,275▲
Financial income75/76B€0-
Recurring financial income75€0-
Financial charges65/66B€2,538€1,402▼
Recurring financial charges65€2,538€1,402▼
Profit (loss) for the period before taxes9903-€2,389€26,873▲
Income taxes67/77€482€2,621▲
Profit (loss) for the period9904-€2,871€24,252▲
Profit (loss) for the period to be appropriated9905-€2,871€24,252▲
Appropriation of the result
Profit (loss) to be appropriated9906€191,969€216,221▲
Profit (loss) brought forward from the previous period14P€194,841€191,969▼
Transfer to equity691/2-€24,252
To other reserves6921-€24,252

The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20202021202220232024Change
Remuneration, social security and pensions62-€34,242€21,646€44,928€42,815▼ 4.7%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€24,077€20,737€21,109€21,289€22,463▲ 5.5%
Other operating charges640/8-€4,644€14,698€4,562€4,854▲ 6.4%
Gross operating margin9900€89,867€66,182-€3,314€70,927€98,407▲ 38.7%
Operating profit (loss)9901€36,739€6,558-€60,767€148€28,275▲ 18,962%
Financial income75/76B-€13,487€1€0--
Recurring financial income75-€13,487€1€0--
Financial charges65/66B-€1,247€1,248€2,538€1,402▼ 44.8%
Recurring financial charges65€11,562€1,247€1,248€2,538€1,402▼ 44.8%
Profit (loss) for the period before taxes9903€25,177€18,798-€62,014-€2,389€26,873▲ 1,225%
Income taxes67/77€7,759€4,932€1,088€482€2,621▲ 444%
Profit (loss) for the period9904€17,418€13,865-€63,102-€2,871€24,252▲ 945%
Profit (loss) for the period to be appropriated9905€17,418€13,865-€63,102-€2,871€24,252▲ 945%
Line20202021202220232024Change
Assets
Total assets20/58€1.2m€539,253€511,624€506,834€516,763▲ 2.0%
Fixed assets21/28€1.1m€492,037€470,928€450,538€477,978▲ 6.1%
Tangible fixed assets22/27€514,129€492,037€470,928€450,538€477,978▲ 6.1%
Land and buildings22-€489,848€469,193€448,538€427,883▼ 4.6%
Plant, machinery and equipment23----€46,306-
Furniture and vehicles24-€2,190€1,735€2,000€3,790▲ 89.5%
Financial fixed assets28€543,088-----
Current assets29/58€101,595€47,215€40,696€56,296€38,785▼ 31.1%
Amounts receivable within one year40/41€59,383€35,930€27,648€3,000€3,000=
Trade receivables40-€30,717€27,646€3,000€3,000=
Other amounts receivable41-€5,213€2---
Cash at bank and in hand54/58€41,555€4,926€8,215€45,874€31,178▼ 32.0%
Deferred charges and accrued income490/1-€6,360€4,833€7,422€4,607▼ 37.9%
Equity and liabilities
Total equity and liabilities10/49€1.2m€539,253€511,624€506,834€516,763▲ 2.0%
Equity10/15€407,335€417,856€354,754€351,882€376,135▲ 6.9%
Contributions10/11-€132,752€132,752€146,048€146,048=
Reserves13€13,400€27,161€27,161€13,865€38,117▲ 175%
Non-distributable reserves130/1-€13,296€13,296---
Reserves not available under the articles1311-€13,296€13,296---
Distributable reserves133-€13,865€13,865€13,865€38,117▲ 175%
Profit (loss) carried forward14€260,140€257,943€194,841€191,969€191,969=
Amounts payable17/49€751,476€121,397€156,870€154,951€140,628▼ 9.2%
Amounts payable after more than one year17€231,168-----
Amounts payable within one year42/48€520,114€120,998€156,412€154,540€140,238▼ 9.3%
Trade debts44€258,938€33,022€5,329€4,420€6,596▲ 49.2%
Suppliers440/4-€33,022€5,329€4,420€6,596▲ 49.2%
Taxes, remuneration and social security45-€34,938€11,476€13,761€10,783▼ 21.6%
Taxes450/3-€28,001€7,030€4,566€3,818▼ 16.4%
Remuneration and social security454/9-€6,938€4,447€9,196€6,965▼ 24.3%
Other amounts payable47/48-€53,037€139,607€136,359€122,860▼ 9.9%
Accrued charges and deferred income492/3-€399€458€412€390▼ 5.2%
Line20202021202220232024Change
Profit (loss) for the period9904€17,418€13,865-€63,102-€2,871€24,252▲ 945%
+ Depreciation and write-downs630€24,077€20,737€21,109€21,289€22,463▲ 5.5%
Operating cash flow (approximation)€41,495€34,602-€41,993€18,418€46,715▲ 154%
Investment in fixed assets (approximation)-€544,443€0-€899-€49,904▼ 5,451%
Change in cash--€36,629€3,289€37,659-€14,696▼ 139%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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Timeline · acts, filings and financial milestones

2025
29-08
NBB filing Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
31-12
Financial Back to profitnet €24,252
Net result €24,252 after 2 loss-making years.
19-09
NBB filing Annual accounts filed
fiscal year 2023 · micro schema · 50 days late
2023
09-10
NBB filing Annual accounts filed
fiscal year 2022 · micro schema · 70 days late
2022
31-12
Financial Weakest financial yearnet -€63,102
Net result drops to -€63,102, the lowest in the series; recovery starts the following year.
05-08
NBB filing Annual accounts filed
fiscal year 2021 · micro schema · 5 days late
2021
27-10
NBB filing Annual accounts filed
fiscal year 2020 · full schema · 88 days late
2020
20-11
NBB filing Annual accounts filed
fiscal year 2019 · full schema · 112 days late
2019
31-12
Financial Highest result since 2018net €30,186 ▲163%
Operating result €59,365, net result €30,186, both a record.
21-06
NBB filing Annual accounts filed
fiscal year 2018 · full schema
2018
20-07
NBB filing Annual accounts filed
fiscal year 2017 · full schema
2017
18-08
NBB filing Annual accounts filed
fiscal year 2016 · full schema · 18 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 7 acts read
About the unread acts

We know of 7 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
7 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, Waterloo · 1 establishment unit since 2009
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.

Avenue Bourgys (Henri) 761410 Waterloo
1 establishment unit
ALPAULE
Avenue Bourgys (Henri) 76, 1410 WaterlooBusiness consulting
since 20092.177.373.351

Structure & network

Owners and holdings

1 holding

Owners 0

The accounts to 31-12-2022 list no shareholders, and no other source names one.

Holdings 1

According to the 2022 annual accounts of ALPICA and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.

Connections & network

No current directors or connected companies found in the register.

Similar companies · same sector, comparable size

Of 82,642 companies in sector 70200 we hold annual accounts for 52,589. 36,767 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
Founded26-12-2008
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
70200Business and other management consultancy
E-invoicing
Reachable via Peppol
Peppol ID 0208:0808847762
Registered 27-03-2026

Register as of 27 September 2026 · Peppol Directory

Scores and ratios are computed by Checked and are not a credit decision.