Equity
€405,566 from €937,395 in 2013
Equity fell by 57% in 12 years.
ALPICA
Lifetime
17 annual accounts with figures on one time axispeak €123,200 (2019)
€111,297▲ 13.1%
lowest -€63,102 (2022)
€29,432▲ 21.4%
peak €937,395 (2013)
€405,566▲ 7.8%
€175,141▲ 24.5%
peak 1 FTE (2018)
-not published
Board1 name since 2021
1 directorYouri Borissov
Documentsfilings and deeds
30-09-202661 days late
2025micro format
Gross margin from €98,407 to €111,297Debts from €140,628 to €175,141Cash from €31,178 to €111,789
Key points
from the 2025 annual accountsChecked score
94
Excellent
Financially stronger than 53% of micro companies in head offices and management consultancy (NACE 70)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 48,572 companies (NACE 70, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.2%
01-2025: 0.2%● unchanged vs 12-2024
02-2025: 0.2%● unchanged vs 01-2025
03-2025: 0.2%● unchanged vs 02-2025
04-2025: 0.2%● unchanged vs 03-2025
05-2025: 0.2%● unchanged vs 04-2025
06-2025: 0.2%● unchanged vs 05-2025
07-2025: 0.3%▲ +0.1 percentage points vs 06-2025
08-2025: 0.3%● unchanged vs 07-2025
09-2025: 0.4%▲ +0.1 percentage points vs 08-2025
10-2025: 0.1%▼ -0.3 percentage points vs 09-2025
11-2025: 0.1%● unchanged vs 10-2025
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.2%▲ +0.1 percentage points vs 01-2026
03-2026: 0.2%● unchanged vs 02-2026
04-2026: 0.2%● unchanged vs 03-2026
05-2026: 0.2%● unchanged vs 04-2026
06-2026: 0.2%● unchanged vs 05-2026
07-2026: 0.2%● unchanged vs 06-2026
08-2026: 0.3%▲ +0.1 percentage points vs 07-2026
09-2026: 0.4%▲ +0.1 percentage points vs 08-2026highest value
10-2026: 0.1%▼ -0.3 percentage points vs 09-2026lowest value
11-2026: 0.1%● unchanged vs 10-2026lowest value
Financial strengthStrong
Score breakdown
raises risk
Last filed accounts filed 61 days late; 2 of the last 3 accounts late
lowers risk
Size: total assets €580,707
Sector: Activities of head offices; management consultancy activities (NACE 70)
Liquidity: current ratio 0.72, cash €111,789
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 70, micro). It does better than 66% of them on solvency, 53% on liquidity, 40% on profitability and 54% on growth.
The bankruptcy probability was computed on 10-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 34,693 companies had the same profile as ALPICA has now. Each dot stands for 87 companies, two years later.
95.3%
were still trading
3.9%
stopped another way
0.7%
went bankrupt
That fits the bankruptcy probability of ALPICA itself: 0.1% within 12 months.
Test of the method
The method was tested on the 497,448 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 34,693 companies, not a prediction for ALPICA. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit verdict
Credit of up to €35,000 on 30-day terms is acceptable
Liquidity is insufficient, with a current ratio of 0.72 (0.28 in 2024), below 1. Short-term debt is 30.1% and cash 19.3% of total assets. 30.2% of the assets are financed with debt and provisions.
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises risk
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €405,566
raises risk · 2025 accounts filed 61 days late
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-09-2026, 61 days later. Nearly half (47%) of Belgian companies file late; of those that file 1 to 90 days late, 2.0% are now bankrupt, dissolved or in another special legal status, against 1.66% of all filers. A delay like this does not count in the score.
NBB · 10 filingsDeviation from the deadline
2025
61 days late
2024
29 days late
2023
50 days late
2022
70 days late
2021
5 days late
2020
88 days late
2019
112 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 7 accounts on average 59 days after the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 20 September (4 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
11-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
YB
Youri Borissov
Director
- Youri Borissov all the sharesdeed of 23-06-2021
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0808847762
Demerger: AOF GROUP splits off to société bénéficiaire
Company renamed from AOF GROUP to ALPICA · General meeting of 30-07-2021 · Gazette deed
Demerger: AOF GROUP splits off to NEW AOF
Appointment: Youri Borissov (director) · Youri Borissov holds all the shares · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| ALPICA Waterloo | €580,707 | €111,297 | 69.8% | - |
| MOULIN Lasne | €623,928 | €108,941 | 6.5% | - |
| ARTIKAS CONSULTING Lasne | €530,794 | €119,951 | -35.7% | - |
| MAKE IT REAL! Lasne | €536,699 | €105,623 | 66.1% | - |
| MA MA THO MANAGEMENT Chaumont-Gistoux | €618,476 | €129,251 | 84.9% | - |
| Chantecler Consulting Rixensart | €551,124 | €98,692 | 35.8% | - |
| RED Consult Braine-l'Alleud | €609,253 | €97,796 | 66.1% | - |
These companies have the same main activity as ALPICA: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €531,000 and €624,000, founded between 2009 and 2010.
Official details
Source: KBO- Status
- Active since 26-12-2008Normal situation
- Activity
- Business and other management consultancyNACE 70200and 1 other
- Joint committees
- 200Auxiliary committee for white-collar workers
- 100Auxiliary committee for blue-collar workers · annual accounts 2025
- Establishment unit
- 2.177.373.3511410 Waterloo, since 06-01-2009
- Financial year end
- 31 December
- Peppol
- Reachable since 21-10-2026
Annual accounts 2025
- ≈ €190,000estimated
- €580,707▲ 12.4%
- Employeeson 31-12-2025
- 1=
- Filing
- Filed on 30-09-2026
Insights on ALPICA
ALPICA files the micro format. That format states no turnover. The gross margin rose from -€7,195 in 2009 to €111,297 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about ALPICA
- What is the company number of ALPICA?
- The company number of ALPICA is 0808.847.762. The VAT number is the same number with BE in front: BE 0808.847.762.
- Where is ALPICA based?
- The registered office is at Avenue Bourgys (Henri) 76, 1410 Waterloo.Company details
- What does ALPICA do?
- According to the KBO register, the main activity is business and other management consultancy (NACE 70200).
- What is the legal form of ALPICA?
- ALPICA is a private limited company (BV).
- When was ALPICA founded?
- ALPICA was founded on 26-12-2008.
- Is ALPICA still active?
- Yes, ALPICA is an active enterprise in the KBO register.
- How many employees does ALPICA have?
- ALPICA had an average of 1 full-time equivalents in financial year 2025, according to the filed annual accounts.Financials
- Which joint committee does ALPICA fall under?
- In its 2025 annual accounts, ALPICA states joint committees 200 (Auxiliary committee for white-collar workers) and 100 (Auxiliary committee for blue-collar workers).
- What is the turnover of ALPICA?
- The turnover in financial year 2025 is ≈ €190,000. This figure is estimated from the gross margin of €111,297 and 109 comparable companies (NACE 70200). It probably lies between €160,000 and €220,000.
- Is ALPICA profitable?
- In financial year 2025, ALPICA made a profit of €29,432.
- Where can I find the annual accounts of ALPICA?
- ALPICA filed 17 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of ALPICA due?
- ALPICA must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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