Checked.be
Active
BE 0764.938.436Private limited company
AP2
Prinsstraat 24 ·3012 Leuven, Belgium· 5 yrs active
Sector: Activities of building architects
(71111)
Conclusion
AP2 has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €60k and a net result of €20k. Equity is growing by ~28.9% per year across the filed fiscal years. Its solvency ranks better than 37% of 3386 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).
Based on the State Gazette, CBE and 4 annual accounts.
Key figures
| Equity | €60k |
| Net result | €20k |
| Better than sector | 37% |
| Active | 5 yrs |
Financial profile
81
/ 100
Exceptional profile, strong across almost every axis.
All 5 axes are computed from data Checked has read.
Health
83
Profitability
100
Solvency
75
Growth
52
Stability
94
Bankruptcy probability (12 mo)
Risk Assessment
0 / 100
Low riskTrust signals
More than 3 years active
Founded in 2021, past the statistically most fragile first 3 years.
No legal incidents
No bankruptcy, reorganisation or interim measure in the Belgisch Staatsblad, and the KBO register records a normal legal situation.
Administrative Flags
No strikeouts found in the KBO publications we processed. That series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
Checked score
83
/ 100
Excellent
Computed from 5 of the 6 factors this model weighs. The rest cannot be derived from the filed figures, or need a prior year to compare against.
Indicative credit limit
€5k
estimate, not credit advice
Score history
81
2021
86
2022
100
2023
83
2024
purely financial, excl. current insolvency signals
Score components
Liquidity
Current ratio 1.56 (≥ 1.5)
+10
Quick ratio
Quick ratio 1.56 (≥ 1.0)
+5
Leverage
Debt/equity 1.44 (< 2.0)
+3
Profitability
ROE 34% (≥ 10%)
+10
Interest coverage
Interest coverage 101.9× (≥ 3×)
+8
Profit trend
Net profit down YoY
-3
Computed by Checked from the NBB filing for FY 2024. Indicative, not credit advice.
Financial overview
Annual accounts filed on 20-02-2025 with the NBB · fiscal year 2024 · micro schema
Trajectory (indicative)
Projection over 3 fiscal years from the filed annual accounts, not a forecast, the extended trend.
growing
Equity: growth of ~28.9%/year over 4 fiscal years, indicative, assuming unchanged policy.
Solid line = filed figures · dashed = extended trend · area = indicative range.
How do we compute this?
The trend is a robust median of all pairwise slopes between fiscal years (Theil-Sen), so a single odd year cannot hijack the line. For strictly positive series we also fit a log variant (compound annual growth) and keep whichever describes the figures best.
The area around the projection is 1.8 × the median absolute deviation from the trend, widening each year ahead (×1 / ×1.6 / ×2.2), with a minimum of 8% of the last value. It is an indicative range, not a statistical confidence interval.
A series whose deviations exceed 35% of its level is too volatile: we then deliberately show no projection. Every projection assumes unchanged policy and is blind to non-public information (order book, contracts, funding rounds).
Sector comparison
Fiscal year 2024 · NACE 71, Architectural and engineering activities; technical testing and analysis · compared within the same schema type (micro schema)
| Metric | This company | Sector median | Position in the sector |
|---|---|---|---|
| Solvency | 41.0% | 55.0% | |
| Net result | €20k | €19k | |
| Equity | €60k | €45k | |
| Gross operating margin | €46k | €38k | |
| Total assets | €146k | €95k |
€46k
-24.9%
21-24
€20k
-36.6%
21-24
€40k
-23.4%
21-24
€146k
+5.8%
21-24
€60k
-34.8%
21-24
€44k
-40.4%
21-24
€6k
-35.2%
21-24
€52k
-
21-24
€86k
+86.6%
21-24
€78k
+180.9%
21-24
€8k
-56.9%
21-24
1.56
-57.3%
21-24
1.56
-57.3%
21-24
41.0%
-38.4%
21-24
1.44
+186.3%
21-24
33.9%
-2.7%
21-24
13.9%
-40.0%
21-24
101.94
-12.6%
21-24
Figures by fiscal year and ratios
| Fiscal year | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
| Deposit | micro schema | micro schema | micro schema | micro schema |
| Revenue | - | - | - | - |
| EBITDA | €46k | €61k | €46k | €54k |
| Net profit | €20k | €32k | €19k | €29k |
| Cash flow | €40k | €52k | €38k | €43k |
| Staff costs | - | - | - | - |
| Income taxes | €6k | €9k | €8k | €11k |
| Dividends | €52k | - | - | - |
| Total assets | €146k | €138k | €121k | €120k |
| Equity | €60k | €92k | €60k | €41k |
| Debt | €86k | €46k | €61k | €79k |
| of which ≤ 1y | €78k | €28k | €32k | €40k |
| of which > 1y | €8k | €18k | €29k | €39k |
| Working capital | €44k | €74k | €38k | €14k |
| Employees (FTE) | - | - | - | - |
Ratios (computed)
| 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|
| Current ratio | 1.56 | 3.66 | 2.19 | 1.34 |
| Quick ratio | 1.56 | 3.66 | 2.19 | 1.34 |
| Working capital ratio | 30.2% | 53.7% | 31.6% | 11.4% |
| Solvency | 41.0% | 66.6% | 49.6% | 34.2% |
| Debt / equity | 1.44 | 0.50 | 1.02 | 1.93 |
| Long-term debt ratio | 0.13 | 0.20 | 0.48 | 0.95 |
| Interest coverage | 101.94 | 116.70 | 59.22 | 148.32 |
| Gross margin | - | - | - | - |
| Net margin | - | - | - | - |
| ROA | 13.9% | 23.2% | 15.7% | 24.2% |
| ROE | 33.9% | 34.8% | 31.6% | 70.7% |
| EBITDA margin | - | - | - | - |
| Days sales outstanding | - | - | - | - |
| Days payable outstanding | - | - | - | - |
| Inventory turnover | - | - | - | - |
| Days inventory (DSI) | - | - | - | - |
Balance-sheet composition 2024
Full annual accounts (23 line items)
Filed balance sheet and income statement, exactly as deposited with the NBB.
| Line item | Code | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Balance sheet, Assets | |||||
| TOTAL ASSETS | 20/58 | €146k | €138k | €121k | €120k |
| Fixed assets | 21/28 | €24k | €36k | €51k | €66k |
| Tangible fixed assets | 22/27 | €24k | €36k | €51k | €66k |
| Current assets | 29/58 | €122k | €102k | €70k | €54k |
| Amounts receivable within one year | 40/41 | €16k | €11k | €15k | €13k |
| Cash & bank | 54/58 | €106k | €91k | €54k | €41k |
| Balance sheet, Equity & liabilities | |||||
| TOTAL EQUITY & LIABILITIES | 10/49 | €146k | €138k | €121k | €120k |
| Equity | 10/15 | €60k | €92k | €60k | €41k |
| Contributions / capital | 10/11 | €12k | €12k | €12k | €12k |
| Reserves | 13 | €48k | €80k | €48k | €29k |
| Accumulated profits (losses) | 14 | €0 | - | - | - |
| Amounts payable | 17/49 | €86k | €46k | €61k | €79k |
| Amounts payable after one year | 17 | €8k | €18k | €29k | €39k |
| Amounts payable within one year | 42/48 | €78k | €28k | €32k | €40k |
| Trade debts payable within one year | 44 | €1k | €1k | €689 | €18k |
| Income statement | |||||
| Gross operating margin | 9900 | €46k | €61k | €46k | €54k |
| Operating result | 9901 | €26k | €41k | €27k | €40k |
| Financial income | 75 | €0 | €40 | €0 | €0 |
| Financial charges | 65 | €449 | €522 | €778 | €364 |
| Result before taxes | 9903 | €26k | €41k | €26k | €40k |
| Income taxes | 67/77 | €6k | €9k | €8k | €11k |
| Net result for the period | 9904 | €20k | €32k | €19k | €29k |
| Result to be appropriated | 9905 | €20k | €32k | €19k | €29k |
Legal Structure
| NACE primary | Activities of building architects(71111) |
| Legal form | Private limited company(610) |
| Incorporation | 11-03-2021 |
| Status | Active |
| Postal code | 3012 |
Establishment units
AP2
since 20212.314.653.986
Real-estate footprint
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24126A0324/00N000 | Flanders | 576 m² | 1 · 125 m² | 9.3 m · 2 fl. |
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Updates
2025
20-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
01-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 1 day late
2023
31-12
Financial
Highest result since 2021net €32k ▲68.8%
Operating result €41k, net result €32k, both a record.
08-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 8 days late
2022
31-12
Financial
Weakest financial yearnet €19k ▼34.5%
Net result drops to €19k, the lowest in the series; recovery starts the following year.
23-06
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Belgian State Gazette reading coverage
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Credit advice
Company registry (CBE)
Activities
Activities of building architects71111
Names & trade names
| Legal nameNL | AP2 |
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