AP MO
ActiveSummary
AP MO has been active since 2024 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €762k and a net result of €81k. Its solvency ranks better than 92% of 9234 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability81▲+16
Solvency100=
Growth78
Track record82
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €60k at 30 days only on tighter terms
Liquidity ample (current ratio 9.31; short-term debt: 2.1% and cash: 19.4% of total assets), and 7.7% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Young company
A young company has little track record yet and statistically fails more often than an established 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
92.3%
Return on assets
9.8%
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 24-07-2026, 7 days ahead of the deadline.
NBB · 2 filingsDeviation from the deadline
2025
7 d early
2024
7 d early
← before the deadline
after the deadline →
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€762k▲ 11.9%
2024 · €681k
2024: €681k
2025: €762k▲ +11.9% vs 2024
2024 → 2025
Total assets
€826k▲ 15.0%
2024 · €718k
2024: €718k
2025: €826k▲ +15.0% vs 2024
2024 → 2025
Net result
€81k
2024 · €-19k
2024: €-19k
2025: €81k▲ +528% vs 2024
2024 → 2025
Working capital
€143k
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20242025Trend
Equity€681k-€762k▲ 11.9%
2024: €681k
2025: €762k▲ +11.9% vs 2024
Operating result€-22k-€95k
2024: €-22k
2025: €95k▲ +527% vs 2024
Net result€-19k-€81k
2024: €-19k
2025: €81k▲ +528% vs 2024
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €95k after a loss of €22k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €826k
Fixed assets
€665k ▼ 2.6%
Current assets
€160k ▲ 362%
Equity and liabilities €826k
Equity
€762k
Provisions
€34k
Debt
€30k
Debt finances 3.7% of the balance-sheet total.
Key figures and ratios
EBITDA
€153k▲
2024 · €35k
Cash flow
€139k▲
2024 · €38k
Current ratio
9.31
Debt to equity
0.04
ROE
10.6%▲
2024 · -2.8%
ROA
9.8%▲
2024 · -2.6%
Interest coverage
577.49▼
2024 · 2780.01
Debt ≤ 1 year
€17k
Income taxes
€17k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 38 lines
Balance sheet
Code20242025
Assets
Total assets20/58€718k€826k▲
Fixed assets21/28€683k€665k▼
Tangible fixed assets22/27€683k€665k▼
Land and buildings22€683k€665k▼
Current assets29/58€35k€160k▲
Amounts receivable within one year40/41€744-
Other amounts receivable41€744-
Cash at bank and in hand54/58€34k€160k▲
Equity and liabilities
Total equity and liabilities10/49€718k€826k▲
Equity10/15€681k€762k▲
Contributions10/11€30k€30k=
Reserves13€82k€80k▼
Tax-exempt reserves132€26k€24k▼
Distributable reserves133€56k€56k=
Profit (loss) carried forward14€568k€651k▲
Provisions and deferred taxes16€37k€34k▼
Deferred taxes168€37k€34k▼
Amounts payable17/49-€30k
Amounts payable within one year42/48-€17k
Trade debts44-€130
Suppliers440/4-€130
Taxes, remuneration and social security45-€17k
Taxes450/3-€17k
Accrued charges and deferred income492/3-€13k
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€57k€58k▲
Other operating charges640/8€937€19k▲
Gross operating margin9900€36k€171k▲
Operating profit (loss)9901€-22k€95k▲
Financial charges65/66B€13€265▲
Recurring financial charges65€13€265▲
Profit (loss) for the period before taxes9903€-22k€95k▲
Transfer from deferred taxes780€3k€3k=
Income taxes67/77-€17k
Profit (loss) for the period9904€-19k€81k▲
Transfer from tax-exempt reserves789€2k€2k=
Profit (loss) for the period to be appropriated9905€-17k€84k▲
Appropriation of the result
Profit (loss) to be appropriated9906€568k€651k▲
Profit (loss) brought forward from the previous period14P€584k€568k▼
The notes to these accounts (5 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €57k | €58k | ▲ 1.3% |
| Other operating charges640/8 | €937 | €19k | ▲ 1,888% |
| Gross operating margin9900 | €36k | €171k | ▲ 381% |
| Operating profit (loss)9901 | €-22k | €95k | ▲ 527% |
| Financial charges65/66B | €13 | €265 | ▲ 2,018% |
| Recurring financial charges65 | €13 | €265 | ▲ 2,018% |
| Profit (loss) for the period before taxes9903 | €-22k | €95k | ▲ 525% |
| Transfer from deferred taxes780 | €3k | €3k | = |
| Income taxes67/77 | - | €17k | - |
| Profit (loss) for the period9904 | €-19k | €81k | ▲ 528% |
| Transfer from tax-exempt reserves789 | €2k | €2k | = |
| Profit (loss) for the period to be appropriated9905 | €-17k | €84k | ▲ 605% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €718k | €826k | ▲ 15.0% |
| Fixed assets21/28 | €683k | €665k | ▼ 2.6% |
| Tangible fixed assets22/27 | €683k | €665k | ▼ 2.6% |
| Land and buildings22 | €683k | €665k | ▼ 2.6% |
| Current assets29/58 | €35k | €160k | ▲ 362% |
| Amounts receivable within one year40/41 | €744 | - | - |
| Other amounts receivable41 | €744 | - | - |
| Cash at bank and in hand54/58 | €34k | €160k | ▲ 372% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €718k | €826k | ▲ 15.0% |
| Equity10/15 | €681k | €762k | ▲ 11.9% |
| Contributions10/11 | €30k | €30k | = |
| Reserves13 | €82k | €80k | ▼ 2.9% |
| Tax-exempt reserves132 | €26k | €24k | ▼ 9.1% |
| Distributable reserves133 | €56k | €56k | = |
| Profit (loss) carried forward14 | €568k | €651k | ▲ 14.7% |
| Provisions and deferred taxes16 | €37k | €34k | ▼ 9.1% |
| Deferred taxes168 | €37k | €34k | ▼ 9.1% |
| Amounts payable17/49 | - | €30k | - |
| Amounts payable within one year42/48 | - | €17k | - |
| Trade debts44 | - | €130 | - |
| Suppliers440/4 | - | €130 | - |
| Taxes, remuneration and social security45 | - | €17k | - |
| Taxes450/3 | - | €17k | - |
| Accrued charges and deferred income492/3 | - | €13k | - |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €-19k | €81k | ▲ 528% |
| + Depreciation and write-downs630 | €57k | €58k | ▲ 1.3% |
| Operating cash flow (approximation) | €38k | €139k | ▲ 264% |
| Investment in fixed assets (approximation) | - | €-40k | - |
| Change in cash | - | €126k | - |
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
01-09
State Gazette act
Resignation: SAMY SRL (director)Appointment: Bernard ADAM (director) · Permanent representative: Bernard ADAM · Mandate compensation11 facts ▸
State Gazette act
Resignation: SAMY SRL (director)
Appointment: Bernard ADAM (director) · Permanent representative: Bernard ADAM · Mandate compensation11 facts ▸
- General meeting, 12-06-2026
- Director resignation, SAMY SRL (director)
- Director appointment, Bernard ADAM (director)
- Mandate compensation, Bernard ADAM
- Board meeting
- Board composition, Jérémy ADAM (director)
- Board composition, Mélissa ADAM (director)
- Board composition, SAMY SRL (director)
- Director resignation, SAMY SRL (managing director)
- Director appointment, Bernard ADAM (managing director)
- Permanent representative, Bernard ADAM
24-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €81k
Net result €81k after one loss-making year.
24-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 3 acts read
About the unread acts
Of the 3 Belgian State Gazette acts we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 director, last change in 2026
Bernard ADAM
CurrentDirector · since 12-06-2026
12-06-2026
Bernard ADAM: Appointed as Director
12-06-2026
Bernard ADAM: Appointed as Managing director
12-06-2026
SAMY: Resigned as Director
12-06-2026
SAMY: Resigned as Managing director
Not every act has been read: a resignation may be missing here
2 of this company's 3 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Theux · 1 establishment unit since 2024
Ground area
2,642 m²
Building footprint
167 m²
Volume, LiDAR
922 m³
Parcel 63044C1191/00N000, Wallonia · tallest building 8.9 m, ±2 floors. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
Rue Sur le Thier 2, 4910 Theux
since 20242.366.605.406
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 63044C1191/00N000 | Wallonia | 2,642 m² | 1 · 167 m² | 8.9 m · 2 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.
Structure & network
Connections & network
1 connected companyLinked via shared directors
via Bernard ADAM · Permanent representative
former→
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Of 9,136 companies in sector 68201 we hold annual accounts for 6,765. 4,947 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
Founded22-10-2024
Fiscal year end31-12
Activities, NACEBEL 2025
68201Renting and operating of own or leased residential real estate, excluding social housing
Scores and ratios are computed by Checked and are not a credit decision.