AP.Tech
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 30-01-2026 PDF all 6 filings
Turnover
≈ €3,300
Estimated: probably between €1,400 and €8,300
EBIT margin
Not included in this filing
Net result
-€15,301
2024 · €15,140
Working capital
€53,913▼ 14.5%
2024 · €63,052
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
-€14,563
2025
20202025
Net result
-€15,301
2025
lowest quarter of the sector
20202025
Equity
€70,796
▼ 17.8%
2025
lowest quarter of the sector
20202025
Total assets
€85,067
▼ 31.0%
2025
lowest quarter of the sector
20202025
Debt
€14,271
▼ 61.7%
2025
20202025
Working capital
€53,913
▼ 14.5%
2025
lowest quarter of the sector
20202025
Solvency
83.2%
▲ 13.4pp
2025
highest quarter of the sector
20202025
Current ratio
6.48
▲ 3.20
2025
highest quarter of the sector
20202025
Return on assets (ROA)
-18.0%
▼ 30.3pp
2025
lowest quarter of the sector
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result€21,991--€1€19,923€23,290▲ 16.9%€20,158▼ 13.4%-€14,563
Net result€18,156within the sector's middle half--€170below the sector's middle half€16,080within the sector's middle half€18,291within the sector's middle half▲ 13.8%€15,140within the sector's middle half▼ 17.2%-€15,301below the sector's middle half
Equity€36,756within the sector's middle half-€36,586within the sector's middle half▼ 0.5%€52,666within the sector's middle half▲ 44.0%€70,957within the sector's middle half▲ 34.7%€86,097within the sector's middle half▲ 21.3%€70,796below the sector's middle half▼ 17.8%
Total assets€60,916below the sector's middle half-€57,524below the sector's middle half▼ 5.6%€60,712below the sector's middle half▲ 5.5%€121,662within the sector's middle half▲ 100%€123,347within the sector's middle half▲ 1.4%€85,067below the sector's middle half▼ 31.0%
Debt€24,160-€20,938▼ 13.3%€8,046▼ 61.6%€50,705▲ 530%€37,250▼ 26.5%€14,271▼ 61.7%
Working capital€29,767within the sector's middle half-€29,610within the sector's middle half▼ 0.5%€46,055within the sector's middle half▲ 55.5%€38,996within the sector's middle half▼ 15.3%€63,052within the sector's middle half▲ 61.7%€53,913below the sector's middle half▼ 14.5%
Solvency60.3%within the sector's middle half-63.6%within the sector's middle half▲ 3.3pp86.7%above the sector's middle half▲ 23.1pp58.3%within the sector's middle half▼ 28.4pp69.8%above the sector's middle half▲ 11.5pp83.2%above the sector's middle half▲ 13.4pp
Current ratio2.53within the sector's middle half-2.41within the sector's middle half▼ 0.116.72above the sector's middle half▲ 4.312.08within the sector's middle half▼ 4.653.28within the sector's middle half▲ 1.206.48above the sector's middle half▲ 3.20
Return on assets (ROA)29.8%above the sector's middle half--0.3%below the sector's middle half▼ 30.1pp26.5%above the sector's middle half▲ 26.8pp15.0%within the sector's middle half▼ 11.5pp12.3%within the sector's middle half▼ 2.8pp-18.0%below the sector's middle half▼ 30.3pp
above
within
below
The sector band is the middle half of the companies in Repair, maintenance and installation of machinery and equipment (NACE 33). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €14,563, after a profit of €20,158 in 2024. It is the lowest result since 2020.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €85,067
Fixed assets
€21,317 ▼ 34.6%
Current assets
€63,751 ▼ 29.7%
Equity and liabilities €85,067
Equity
€70,796 ▼ 17.8%
Debt
€14,271 ▼ 61.7%
Debt's share of the balance-sheet total falls from 30.2% to 16.8%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€1,921▼
2024 · €34,002
Cash flow
-€2,659▼
2024 · €28,985
Quick ratio
5.21▲
2024 · 2.04
Debt to equity
0.20▼
2024 · 0.43
ROE
-21.6%▼
2024 · 17.6%
Interest coverage
-3.07▼
2024 · 39.27
Debt ≤ 1 year
€9,837▼
2024 · €27,686
Debt > 1 year
€4,434▼
2024 · €9,564
Income taxes
€130▼
2024 · €4,260
Staff costs
€2,272▲
2024 · €2,086
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €4,818 | €45,578 | - | €1,350 |
| Depreciation and write-downs of the year | €5,184 | €5,735 | €13,845 | €12,642 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | €720 | €2,006 | €2,086 | €2,272 | ▲ 8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,807 | €8,399 | €5,184 | €5,735 | €13,845 | €12,642 | ▼ 8.7% |
| Other operating charges640/8 | - | - | €255 | €1,031 | €878 | €138 | ▼ 84.3% |
| Gross operating margin9900 | €35,523 | €8,489 | €26,082 | €32,063 | €36,967 | €488 | ▼ 98.7% |
| Operating profit (loss)9901 | €21,991 | -€1 | €19,923 | €23,290 | €20,158 | -€14,563 | - |
| Financial income75/76B | - | - | €6 | €21 | €109 | €17 | ▼ 84.5% |
| Recurring financial income75 | €0 | €0 | €6 | €21 | €109 | €17 | ▼ 84.5% |
| Financial charges65/66B | - | - | €153 | €354 | €866 | €625 | ▼ 27.8% |
| Recurring financial charges65 | €223 | €169 | €153 | €354 | €866 | €625 | ▼ 27.8% |
| Profit (loss) for the period before taxes9903 | €21,768 | -€170 | €19,776 | €22,957 | €19,400 | -€15,171 | - |
| Income taxes67/77 | €3,611 | - | €3,696 | €4,666 | €4,260 | €130 | ▼ 97.0% |
| Profit (loss) for the period9904 | €18,156 | -€170 | €16,080 | €18,291 | €15,140 | -€15,301 | - |
| Profit (loss) for the period to be appropriated9905 | €18,156 | -€170 | €16,080 | €18,291 | €15,140 | -€15,301 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €60,916 | €57,524 | €60,712 | €121,662 | €123,347 | €85,067 | ▼ 31.0% |
| Fixed assets21/28 | €11,639 | €6,976 | €6,611 | €46,454 | €32,609 | €21,317 | ▼ 34.6% |
| Tangible fixed assets22/27 | €11,459 | €6,796 | €6,431 | €46,274 | €32,429 | €21,137 | ▼ 34.8% |
| Land and buildings22 | - | - | - | - | - | €1,050 | - |
| Plant, machinery and equipment23 | - | - | €6,431 | €3,580 | €1,038 | - | - |
| Furniture and vehicles24 | - | - | - | €42,694 | €31,391 | €20,087 | ▼ 36.0% |
| Financial fixed assets28 | €180 | €180 | €180 | €180 | €180 | €180 | = |
| Current assets29/58 | €49,277 | €50,548 | €54,100 | €75,208 | €90,738 | €63,751 | ▼ 29.7% |
| Stocks and contracts in progress3 | €5,597 | €20,127 | €5,987 | €22,447 | €34,339 | €12,517 | ▼ 63.5% |
| Stocks30/36 | - | - | €5,987 | €22,447 | €34,339 | €12,517 | ▼ 63.5% |
| Amounts receivable within one year40/41 | €12,615 | €6,680 | €7,260 | €19,644 | €19,699 | €13,882 | ▼ 29.5% |
| Trade receivables40 | - | - | €2,317 | €12,178 | €10,868 | €5,006 | ▼ 53.9% |
| Other amounts receivable41 | - | - | €4,944 | €7,466 | €8,831 | €8,876 | ▲ 0.5% |
| Current investments50/53 | - | - | - | - | €3,747 | €3,747 | = |
| Cash at bank and in hand54/58 | €31,065 | €22,306 | €40,604 | €33,117 | €32,954 | €30,944 | ▼ 6.1% |
| Deferred charges and accrued income490/1 | - | - | €249 | - | - | €2,660 | - |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €60,916 | €57,524 | €60,712 | €121,662 | €123,347 | €85,067 | ▼ 31.0% |
| Equity10/15 | €36,756 | €36,586 | €52,666 | €70,957 | €86,097 | €70,796 | ▼ 17.8% |
| Contributions10/11 | - | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Capital10 | - | - | - | - | - | €15,000 | - |
| Issued capital100 | - | - | - | - | - | €15,000 | - |
| Contributions outside capital11 | - | - | - | - | - | €3,600 | - |
| Other1109/19 | - | - | - | - | - | €3,600 | - |
| Profit (loss) carried forward14 | €18,156 | €17,986 | €34,066 | €52,357 | €67,497 | €52,196 | ▼ 22.7% |
| Amounts payable17/49 | €24,160 | €20,938 | €8,046 | €50,705 | €37,250 | €14,271 | ▼ 61.7% |
| Amounts payable after more than one year17 | €4,650 | - | - | €14,493 | €9,564 | €4,434 | ▼ 53.6% |
| Financial debts170/4 | - | - | - | €14,493 | €9,564 | €4,434 | ▼ 53.6% |
| Amounts payable within one year42/48 | €19,510 | €20,938 | €8,046 | €36,212 | €27,686 | €9,837 | ▼ 64.5% |
| Current portion of amounts payable after more than one year42 | - | - | - | €4,736 | €4,929 | €5,130 | ▲ 4.1% |
| Trade debts44 | €12,447 | €11,779 | €3,818 | €27,546 | €20,365 | - | - |
| Suppliers440/4 | - | - | €3,818 | €27,546 | €20,365 | - | - |
| Taxes, remuneration and social security45 | - | - | €4,125 | €3,727 | €2,330 | €2,430 | ▲ 4.3% |
| Taxes450/3 | - | - | €1,696 | - | - | - | - |
| Remuneration and social security454/9 | - | - | €2,428 | €3,727 | €2,330 | €2,430 | ▲ 4.3% |
| Other amounts payable47/48 | - | - | €103 | €203 | €62 | €2,277 | ▲ 37× |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,156 | -€170 | €16,080 | €18,291 | €15,140 | -€15,301 | - |
| + Depreciation and write-downs630 | €12,807 | €8,399 | €5,184 | €5,735 | €13,845 | €12,642 | ▼ 8.7% |
| Operating cash flow (approximation) | €30,964 | €8,229 | €21,263 | €24,026 | €28,985 | -€2,659 | - |
| Investment in fixed assets (approximation) | - | -€3,737 | -€4,818 | -€45,578 | €0 | -€1,350 | - |
| Change in cash | - | -€8,760 | €18,298 | -€7,487 | -€164 | -€2,009 | ▼ 1,126% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 3,591 companies had the same profile as AP.Tech has now. Two years later, 87.4% were still going and 3.0% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
87.4%
was still going
9.4%
stopped otherwise
3.0%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of AP.Tech itself is lower: 0.5% within 12 months. It rests on far more data about AP.Tech than the profile alone.
Test of the method
The method was tested on the 497,446 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 3,591 companies, not a prediction for AP.Tech. 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.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | full format | 30-01-2026 | 2026-00024932 | |
| 30-06-2024 | micro format | 09-12-2024 | 2024-00616011 | |
| 30-06-2023 | micro format | 04-12-2023 | 2023-00521222 | |
| 30-06-2022 | micro format | 02-12-2022 | 2022-20534072 | |
| 30-06-2021 | micro format | 03-12-2021 | 2021-79600180 | |
| 30-06-2020 | micro format | 16-12-2020 | 2020-76500063 |