Result
€81,108 €81,108
Back in profit in 2025, after a loss of €18,929 in 2024.
AP MO
Overview
Lifetime
2 annual accounts with figures on one time axispeak €171,500 (2025)
€171,500▲ 381%
lowest -€18,929 (2024)
€81,108▲ €100,037
peak €761,685 (2025)
€761,685▲ 11.9%
€30,230
Board7 names since 2024
3 directorsSAMY and 2 others
Owners
36%SAMY
Documentsfilings and deeds
24-07-20267 days before the deadline
2025abbreviated format
Gross margin from €35,688 to €171,500Back to profit: €81,1082 directors appointed, 3 resignations 16-09Cash from €33,994 to €160,465
Key points
from the 2025 annual accountsBoard
1 joined · 1 left
Board changed. Latest change 12-06-2026 · 3 in office.
Position in the sector
92.3%
Higher solvency than 92% of companies in real estate. Sector median 30.7% · 11,299 companies.
Checked score
97
Excellent
Financially stronger than 80% of micro companies in real estate (NACE 68)
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: 0.2% across 26,625 companies (NACE 68, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
11-2025: 0.1%
12-2025: 0.1%● unchanged vs 11-2025
01-2026: 0.1%● unchanged vs 12-2025
02-2026: 0.1%● unchanged vs 01-2026
03-2026: 0.1%● unchanged vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.1%● unchanged vs 05-2026
07-2026: 0.1%● unchanged vs 06-2026highest value
08-2026: < 0.1%▼ -0.1 percentage points vs 07-2026
09-2026: < 0.1%● unchanged vs 08-2026lowest value
10-2026: < 0.1%● unchanged vs 09-2026
11-2026: < 0.1%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
lowers risk
Sector: Real estate activities (NACE 68)
Liquidity: current ratio 9.31, cash €160,465
Size: total assets €825,643
Figures for financial year 2025 (filed on 24-07-2026)
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 68, micro). It does better than 91% of them on solvency, 83% on liquidity, 78% on profitability and 68% on growth.
The bankruptcy probability was computed on 08-11-2026 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, 3,127 companies had the same profile as AP MO has now. Each dot stands for 8 companies, two years later.
97.2%
were still trading
1.9%
stopped another way
0.8%
went bankrupt
That fits the bankruptcy probability of AP MO itself: < 0.1% within 12 months.
Test of the method
The method was tested on the 497,447 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 3,127 companies, not a prediction for AP MO. 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 €70,000 on 30-day terms, only on tighter conditions: young company (under 3 years) without a track record
Liquidity is ample, with a current ratio of 9.31, above the usual 1.5. Short-term debt is 2.1% and cash 19.4% of total assets. 7.7% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Young company
Founded in 2024, 2 years ago. Young companies fail more often than established ones; the risk is highest 2 to 8 years after founding.
KBO · incorporation dateAge against the risk zone
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 days early
2024
7 days early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 2 accounts on average 7 days before the deadline. In the sector (NACE 68), the median for financial year 2024 was 7 days before the deadline, and 36% 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.
Companies Code · seven monthsWhere today falls in the filing period
09-11-2026 today31-12-2026 year end31-07-2027 deadline
Board and ownership
- SAMY 36%score 95equity €1.2m (2025) · 2025 annual accounts of SAMY
Recent changes
New managing director
Bernard ADAM appointed, SAMY SRL resigned · General meeting of 12-06-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:1015402433
2 directors appointed, 3 resignations
Resignations: VPG S.A., PUMP REPAIR CENTER SRL and Denis ORTMANS · Appointments: Jérémy ADAM and Melissa ADAM · General meeting of 15-07-2025 · Gazette deed
Incorporation
Founding capital of €699,507.02, 185 shares · Demerger: ADAM PUMPS splits off to AP MO · Founder: SAMY · published on 24-10-2024 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| AP MO Theux | €0.8m | €171,500 | 92.3% | - |
| Huysmans Invest Bonheiden | €0.8m | €132,598 | 81.1% | - |
| Donovan Estates Group Grobbendonk | €1.1m | €192,832 | 3.6% | - |
| Koveco Huldenberg | €1.0m | €139,741 | -5.2% | - |
| Pôle Concept Patrimoine Woluwe-Saint-Pierre | €1.0m | €136,008 | 98.8% | - |
| Citadel Diest Diest | €0.8m | €117,196 | 17.2% | 2.1 |
| Steakimmo Antwerp | €1.0m | €144,782 | 9.3% | 0 |
These companies have the same main activity as AP MO: renting and operating of own or leased residential real estate, excluding social housing (NACE 68201). They are comparable in size and age: total assets between €790,000 and €1.1m, founded in 2024.
Official details
Source: KBO- Status
- Active since 22-10-2024Normal situation
- Activity
- Renting and operating of own or leased residential real estate, excluding social housingNACE 68201
- Establishment unit
- 2.366.605.4064910 Theux, since 22-10-2024
- Financial year end
- 31 December
- Peppol
- Reachable since 25-11-2025
Annual accounts 2025
- €171,500▲ 381%
- ≈ €250,000estimated
- €81,108
- €761,685▲ 11.9%
- €825,643▲ 15.0%
- Filing
- Filed on 24-07-2026, 7 days before the end of the filing period
Insights on AP MO
AP MO has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €761,685 and a net result of €81,108.
Its solvency ranks better than 92% of 11,299 sector peers (NACE 68, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
abbreviated format, filed on 24-07-2026, 7 days before the deadline€171,500
▲ 381%
€95,099
▲ €117,388
€81,108
▲ €100,037
€143,235
92.3%
▼ 2.6 percentage points
9.31
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €250,000. Estimated: probably between €190,000 and €340,000.
In the rankings
#5 company by equity in Theux, Real estate sector
Balance sheet
balance sheet total €825,643 on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
92.3%
Higher than 92% of 11,299 companies in 2025.
9.31
Higher than 90% of 10,851 companies in 2025.
9.8%
Higher than 84% of 11,184 companies in 2025.
AP MO
Middle half of the sector
80% of the sector
Abbreviated accounts in real estate (NACE 68)
Net result: top quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| Balance sheet: assets | |||
20/58 |
825,643 | 717,679 | |
21/28 |
665,178 | 682,941 | |
22/27 |
665,178 | 682,941 | |
22 |
665,178 | 682,941 | |
29/58 |
160,465 | 34,738 | |
40/41 |
- | 744 | |
41 |
- | 744 | |
54/58 |
160,465 | 33,994 | |
| Balance sheet: equity and liabilities | |||
10/49 |
825,643 | 717,679 | |
10/15 |
761,685 | 680,578 | |
10/11 |
30,435 | 30,435 | |
13 |
79,993 | 82,400 | |
132 |
24,068 | 26,474 | |
133 |
55,926 | 55,926 | |
14 |
651,257 | 567,743 | |
16 |
33,728 | 37,101 | |
168 |
33,728 | 37,101 | |
17/49 |
30,230 | - | |
42/48 |
17,230 | - | |
44 |
130 | - | |
440/4 |
130 | - | |
45 |
17,100 | - | |
450/3 |
17,100 | - | |
492/3 |
13,000 | - | |
| Income statement | |||
9900 |
171,500 | 35,688 | |
630 |
57,763 | 57,040 | |
640/8 |
18,638 | 937 | |
9901 |
95,099 | -22,289 | |
65/66B |
265 | 13 | |
65 |
265 | 13 | |
9903 |
94,834 | -22,302 | |
780 |
3,373 | 3,373 | |
67/77 |
17,100 | - | |
9904 |
81,108 | -18,929 | |
789 |
2,407 | 2,407 | |
9905 |
83,514 | -16,522 | |
| Appropriation of the result | |||
9906 |
651,257 | 567,743 | |
14P |
567,743 | 584,265 | |
| Document | |||
The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 24-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankKey figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| 152,862 | 34,750 | ||
| 138,870 | 38,110 | ||
| 40,000 | 1.2m | ||
| 126,471 | - | ||
| 143,235 | - | ||
| 92.3% | 94.8% | ||
| 9.31 | - | ||
| 0.04 | - | ||
| 10.6% | -2.8% | ||
| 9.8% | -2.6% | ||
| over 100 | over 100 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 |
|---|---|---|
| Tangible fixed assets | €40,000 | €1.2m |
| €57,763 | €57,040 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Insights on AP MO
The operating result for 2025 is a profit of €95,099, after a loss of €22,289 in 2024.
Debt's share of the balance-sheet total is 3.7%.
Board & ownership
Board
3 directors, 1 in day-to-day management, no change since June 2026Director
since 01-09-2025
term without a fixed end
listed in the 2025 annual accounts, filed on 24-07-2026
Director
since 01-09-2025
term without a fixed end
listed in the 2025 annual accounts, filed on 24-07-2026
Director and managing director
appointed by deed of 01-09-2026
term without a fixed end
also on the board of 1 other company
Mandates through the years
7 names, the dashed line is todayJérémy ADAM
Director
Director
Melissa ADAM
Director
Director
Bernard ADAM
Director, Managing director
Director, Managing director
SAMY
Director
Director
Denis ORTMANS
Director
Director
PUMP REPAIR CENTER
Director
Director
VPG
Director
Director
LeadershipBoardEarlier
Mandates as a list
- Jérémy ADAM
- Director, from 01-09-2025 to date
- Melissa ADAM
- Director, from 01-09-2025 to date
- Bernard ADAM
- Director, appointed by deed of 01-09-2026, still in office
- Managing director, appointed by deed of 01-09-2026, still in office
- SAMY
- Director, from 22-10-2024 to 12-06-2026
- Denis ORTMANS
- Director, from 22-10-2024 to 01-09-2025
- PUMP REPAIR CENTER
- Director, from 22-10-2024 to 01-09-2025
- VPG
- Director, from 22-10-2024 to 01-09-2025
Control
Shareholder
Equity €1.2m
Profit €143,559 in 2025 (profit €896,744 in 2024)
Checked score 95
Source: accounts SAMY 2025
36%
This company
AP MO
Equity €761,685
Profit €81,108 in 2025
Capital
- Contribution
- €30,434.96
- Shares
- 185
- Contribution per share
- €165
- Equity per share
- €4,117 in 2025
- Source
- 2025 annual accounts
Owners through the years
as the annual accounts name themOwners as a list
- SAMY
Source: lists of holdings in the owners' accounts
Articles of association
deed of 24-10-2024 (in French)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Dissolution ruleThe articles set when and by whom the company can be dissolved.
- “Développements auxquels on peut raisonnablement s'attendre, convoquer l'assemblée générale”
Capital transactions
Shareholders according to the deeds
At incorporation
deed of 24-10-2024 ↗
- ADAM Bernard 118 shares (63.8%)
- SAMY (BE 0879.984.790) 67 shares (36.2%)
Capital over time
- 24-10-2024 Incorporation · €699,507.02 · 185 shares
Network & group
No group
AP MO has no parent and no holdings in its annual accounts.
At the same address
Rue sur le Thier 2, 4910 Theux · 1 other company| SAMY
registered office since 05-05-2006 · founded in 2006 |
total assets €1.4m (2025) 0879.984.790 |
Earlier ties
| EXPLOTECH via VPG, at AP MO until 2025 · Director · deed of 31-10-2022 founded in 1989 · accounts filed late |
23 FTE (2025) |
| BATIMENT ET TECHNIQUE via VPG, at AP MO until 2025 · Director · deed of 14-05-2024 founded in 1989 |
98 FTE (2025) |
| BBK via VPG, at AP MO until 2025 · Independent director · deed of 27-08-2025 founded in 1990 |
35 FTE (2025) |
| DEEGITAL via VPG, at AP MO until 2025 · Director · deed of 05-07-2022 founded in 2016 |
62 FTE (2025) |
| DEUSE via VPG, at AP MO until 2025 · Director · deed of 24-08-2022 founded in 2016 |
36 FTE (2025) |
| DEUSE GROUP via VPG, at AP MO until 2025 · Director · deed of 14-07-2023 founded in 2023 |
total assets €3.5m (2025) |
Show 8 more earlier ties
| ADAM PUMPS via Bernard ADAM, no longer at ADAM PUMPS · Managing director · deed of 23-02-2021 founded in 2003 |
16 FTE (2025) |
| LEVITA via VPG, at AP MO until 2025 · Director · deed of 02-07-2021 founded in 2018 |
total assets €1.7m (2025) |
| COPILOT via VPG, at AP MO until 2025 · Director · deed of 09-09-2025 founded in 1989 |
2.4 FTE (2025) |
| INDEXPLUS via VPG, at AP MO until 2025 · Director · deed of 01-02-2022 founded in 2016 |
total assets €617,215 (2025) |
| DESMOSIA via VPG, at AP MO until 2025 · Director · deed of 14-01-2026 founded in 2017 |
total assets €115,754 (2025) |
| 18.24 Agency via VPG, at AP MO until 2025 · Director · deed of 06-03-2023 founded in 2020 |
total assets €92,290 (2025) |
| METERBUY SPRL via VPG, at AP MO until 2025 · Director (not named in the articles) · deed of 17-12-2021 No longer active |
1.6 FTE (2022) |
| SAMY via Bernard ADAM, no longer at SAMY · Permanent representative · deed of 23-02-2021 No longer active |
turnover €73,976 (2017) |
Connections & network
This company
Company
Director
Shareholding
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Timeline
Timeline
8 events since 2024Board
Filings
Financial
Establishments
202420252026
Deadline for the 2026 accounts: 31-07-2027
2026
New managing directorBernard ADAM appointed, SAMY SRL resigned · General meeting of 12-06-20268 points ▸
- General meeting, 12-06-2026
- Director resignation, SAMY SRL
- Director appointment, Bernard ADAM
- Board composition, ADAM Jérémy (director)
- Board composition, ADAM Mélissa (director)
- Board composition, SAMY SRL (director)
- Director resignation, SAMY SRL (managing director)
- Director appointment, Bernard ADAM (managing director)
- The deed holds 2 more points.
Annual accounts 2025 filed NBBabbreviated format · 7 days before the deadline
2025
Back to profit net €81,108 The net result is €81,108, after one loss-making year.
Registered in the Peppol Directory Reachable for e-invoices through 0208:1015402433
2 directors appointed, 3 resignationsResignations: VPG S.A., PUMP REPAIR CENTER SRL and Denis ORTMANS · Appointments: Jérémy ADAM and Melissa ADAM · General meeting of 15-07-20256 points ▸
- General meeting, 15-07-2025
- Director resignation, VPG S.A.
- Director resignation, PUMP REPAIR CENTER SRL
- Director resignation, Denis ORTMANS
- Director appointment, Jérémy ADAM
- Director appointment, Melissa ADAM
Annual accounts 2024 filed NBBabbreviated format · 7 days before the deadline
2024
IncorporationFounding capital of €699,507.02, 185 shares · Demerger: ADAM PUMPS splits off to AP MO · Founder: SAMY · published on 24-10-202412 points ▸
- Founding capital, €699,507.02, 185 shares
- ADAM Bernard holds 118 shares
- SAMY holds 67 shares
- Accounting effect, 01-01-2024, mentioned twice in the deed
- 185 shares
- Director appointment, SAMY
- Director appointment, VPG
- Director appointment, PUMP REPAIR CENTER
- Director appointment, ORTMANS Denis
- Permanent representative, ADAM Bernard
- Permanent representative, PISSART Vincent
- Permanent representative, COCK Bruno
- The deed holds 12 more points.
First establishment Rue Sur le Thier 2, Theux
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Identity
- Enterprise number
- 1015.402.433
- VAT number
- BE 1015.402.433
- Peppol ID
- 0208:1015402433
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 22-10-2024
- Financial year
- ends on 31 December
- Peppol
- Reachable since 25-11-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- AP MO in French
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 24-10-2024 (in French)
Activities
NACEBEL 202568201
Renting and operating of own or leased residential real estate, excluding social housing main activity
Codes under NACEBEL 2008
68201
Real estate activities main activity
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Rue Sur le Thier 2 registered office 4910 Theux | 22-10-2024 | 2.366.605.406 |
Buildings and parcels at the address
- Ground area
- 2,642 m²
- Buildings
- 167 m²
- Volume, LiDAR
- 922 m³
- Tallest building
- 8.9 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 63044C1191/00N000 | 2,642 m² | 1 · 167 m² | 8.9 m · 2 |