Equity
€35,652 ▲ 6.4%
APANAGE paid out €5,590 in dividends. That is 72% of the 2025 profit.
APANAGE
Lifetime
15 annual accounts with figures on one time axispeak €27,880 (2023)
€15,187▼ 11.2%
lowest -€3,379 (2011)
€7,740▲ 43.5%
peak €35,652 (2025)
€35,652▲ 6.4%
€49,116▲ 785%
peak 0.7 FTE (2012)
-not published
Board2 names since 2010
1 directorAzran Olivier
Documentsfilings and deeds
24-06-202637 days before the deadline
2025micro format
Result from €5,393 to €7,740Registered office moved within Brussels 02-04Dividend €5,590Debts from €5,551 to €49,116Cash from €12,393 to €30,177
Key points
from the 2025 annual accountsChecked score
91
Excellent
Financially stronger than 49% 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).
About 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: < 0.1%
01-2025: < 0.1%● unchanged vs 12-2024lowest value
02-2025: < 0.1%● unchanged vs 01-2025lowest value
03-2025: < 0.1%● unchanged vs 02-2025lowest value
04-2025: < 0.1%● unchanged vs 03-2025
05-2025: 0.1%▲ +0.1 percentage points vs 04-2025
06-2025: 0.1%● unchanged vs 05-2025
07-2025: 0.1%● unchanged vs 06-2025
08-2025: 0.1%● unchanged vs 07-2025
09-2025: 0.1%● unchanged vs 08-2025
10-2025: 0.1%● unchanged 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: 0.1%● 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%● unchanged vs 07-2026highest value
09-2026: 0.1%● unchanged vs 08-2026highest value
10-2026: 0.1%● unchanged vs 09-2026highest value
11-2026: 0.1%● unchanged vs 10-2026highest value
Financial strengthStrong
Score breakdown
raises risk
1 change of registered office in 24 months
lowers risk
Liquidity: current ratio 1.73, cash €30,177
Sector: Activities of head offices; management consultancy activities (NACE 70)
Figures for financial year 2025 (filed on 24-06-2026)
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 70, micro). It does better than 39% of them on solvency, 57% on liquidity, 47% on profitability and 53% 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 APANAGE 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 APANAGE 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 APANAGE. 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 €3,000 on 30-day terms is acceptable
Liquidity is ample, with a current ratio of 1.73 (6.49 in 2024), above the usual 1.5. Short-term debt is 57.9% and cash 35.6% of total assets. However, 57.9% 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
Five signals.
lowers riskraises riskneutral
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 24-06-2026, 37 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
37 days early
2024
3 days early
2023
22 days late
2022
98 days early
2021
19 days early
2020
18 days late
2019
10 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 15 days before 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 12 July (4 of the last 5 accounts filed within 42 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
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0831800932
Registered office moved within Brussels
New registered office: Avenue Kersbeek, 211 à 1190 Bruxelles · Previous registered office: Avenue Molière, 53/4 à Forest (1190 Bruxelles) · Permanent representative: Olivier AZRAN · General meeting of 28-01-2025 · Gazette deed
Resignation: Carole GROSMAN (director)
Director discharge: Carole GROSMAN · General meeting of 18-06-2021 · Gazette deed
Incorporation
published on 21-12-2010 · Gazette deed
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| APANAGE Forest | €84,768 | €15,187 | 42.1% | - |
| MKmc Brussels | €71,943 | €14,054 | 61.9% | - |
| One for All Services Brussels | €79,640 | €12,597 | 86.3% | - |
| PYN GROUP Brussels | €69,467 | €13,340 | 50.3% | - |
| ALISEOS Braine-l'Alleud | €80,840 | €16,104 | 21.1% | - |
| AMBROSE Solutions Soignies | €78,202 | €14,301 | 36.0% | - |
| POSSUM Keerbergen | €95,728 | €14,582 | 55.5% | - |
These companies have the same main activity as APANAGE: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €69,500 and €95,700, founded between 2011 and 2012.
Official details
Source: KBO- Status
- Active since 10-12-2010Normal situation
- Activity
- Business and other management consultancyNACE 70200
- Establishment unit
- 2.194.477.8171190 Forest, since 07-12-2010
- Financial year end
- 31 December
- Peppol
- Reachable since 07-11-2025
Annual accounts 2025
- ≈ €70,000estimated
- €84,768▲ 117%
- Filing
- Filed on 24-06-2026, 37 days before the end of the filing period
Insights on APANAGE
APANAGE files the micro format. That format states no turnover. The gross margin rose from €1,201 in 2011 to €15,187 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 APANAGE
- What is the company number of APANAGE?
- The company number of APANAGE is 0831.800.932. The VAT number is the same number with BE in front: BE 0831.800.932.
- Where is APANAGE based?
- The registered office is at Kersbeeklaan 211, 1190 Forest.Company details
- What does APANAGE do?
- According to the KBO register, the main activity is business and other management consultancy (NACE 70200).
- What is the legal form of APANAGE?
- APANAGE is a private limited company (pre-2019) (BVBA).
- When was APANAGE founded?
- APANAGE was founded on 10-12-2010.
- Is APANAGE still active?
- Yes, APANAGE is an active enterprise in the KBO register.
- What is the turnover of APANAGE?
- The turnover in financial year 2025 is ≈ €70,000. This figure is estimated from the gross margin of €15,187 and 206 comparable companies (NACE 70200). It probably lies between €33,000 and €140,000. It is a rough estimate. In financial year 2018 turnover was €147,873.Financials
- Is APANAGE profitable?
- In financial year 2025, APANAGE made a profit of €7,740.
- Where can I find the annual accounts of APANAGE?
- APANAGE filed 15 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of APANAGE due?
- APANAGE must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
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