APAX
ActiveSummary
The computed 12-month bankruptcy probability of APAX is 1.7% (moderate). The annual accounts of APAX for fiscal year 2025 show a net loss of 75% of the equity at the start of that year. The 2025 annual accounts show equity of €7,671 and a net result of -€22,917. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 15% of 7097 sector peers (fiscal year 2025). The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability5▼-10
Solvency29▼-5
Growth32▼-20
Track record94
Bankruptcy probability, 12 months
1.7%
Moderate
0%0.5%1.5%4%10%≥ 25%
No publishable credit limit; credit only on tighter terms
Net loss of at least half of total assets or of the equity at the start of the financial year.
Liquidity tight (current ratio 1.08 against 0.89 in 2024; short-term debt: 10.1% and cash: 0.5% of total assets), and 96.4% of the assets are financed with debt.
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Signals
Six signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
3.6%
Return on assets
-10.8%
Age of the figures
9 mo
raises risk · Persistent losses
Two consecutive loss-making years (2024 and 2025); equity is also lower. May indicate structural pressure on profitability.
NBB · annual accounts 2025Net result per financial year
2122232425
2021 to 2025 · latest year -€22,917
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 15% of 7097 sector peers (2025).
NBB · sector comparisonPosition among 7097 sector peers
Solvency
better than 15%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 27-08-2026, 27 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 5 filingsDeviation from the deadline
2025
27 d late
2024
57 d late
2023
36 d early
2022
42 d early
2021
19 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 5 accounts on average 5 days after the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% of the sector filed late.
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. Usually files around 19 August (4 of the last 5 filed years within 54 days of that day).
Companies Code · seven monthsPosition in the running window
28-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€7,671▼ 74.9%
2024 · €30,588
Total assets
€213,076▼ 35.4%
2024 · €329,981
Net result
-€22,917▼ 147%
2024 · -€9,267
Working capital
€1,768
2024 · -€32,574
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€8,993--€3,187€60,065-€2,602-€13,733▼ 428%
Net result€6,589within the sector's middle half--€5,632below the sector's middle half€35,897within the sector's middle half-€9,267below the sector's middle half-€22,917below the sector's middle half▼ 147%
Equity€9,589below the sector's middle half-€3,957below the sector's middle half▼ 58.7%€39,855within the sector's middle half▲ 907%€30,588within the sector's middle half▼ 23.3%€7,671below the sector's middle half▼ 74.9%
Total assets€33,966below the sector's middle half-€211,341within the sector's middle half▲ 522%€98,917within the sector's middle half▼ 53.2%€329,981within the sector's middle half▲ 234%€213,076within the sector's middle half▼ 35.4%
Debt€24,377-€207,384▲ 751%€59,062▼ 71.5%€299,393▲ 407%€205,405▼ 31.4%
Working capital€9,589within the sector's middle half-€2,337within the sector's middle half▼ 75.6%€38,964within the sector's middle half▲ 1,567%-€32,574below the sector's middle half€1,768within the sector's middle half
Solvency28.2%within the sector's middle half-1.9%below the sector's middle half▼ 26.4pp40.3%within the sector's middle half▲ 38.4pp9.3%below the sector's middle half▼ 31.0pp3.6%below the sector's middle half▼ 5.7pp
Current ratio1.39within the sector's middle half-1.01below the sector's middle half▼ 0.381.66within the sector's middle half▲ 0.650.89below the sector's middle half▼ 0.771.08within the sector's middle half▲ 0.19
Return on assets (ROA)19.4%within the sector's middle half--2.7%below the sector's middle half▼ 22.1pp36.3%above the sector's middle half▲ 39.0pp-2.8%below the sector's middle half▼ 39.1pp-10.8%below the sector's middle half▼ 7.9pp
above
within
below
the middle half (P25 to P75) of NACE 73, Advertising, market research and public relations activities, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €13,733 in 2025 against €2,602 in 2024; the loss grows and 2025 has the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €213,076
Fixed assets
€189,712 ▲ 200%
Current assets
€23,364 ▼ 91.2%
Equity and liabilities €213,076
Equity
€7,671 ▼ 74.9%
Debt
€205,405 ▼ 31.4%
Debt's share of the balance-sheet total rises from 90.7% to 96.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€10,285▼
2024 · -€1,873
Cash flow
-€19,468▼
2024 · -€8,537
Debt to equity
26.78▲
2024 · 9.79
ROE
-298.8%▼
2024 · -30.3%
Interest coverage
-1.12▼
2024 · -0.30
Debt ≤ 1 year
€21,596▼
2024 · €299,393
Debt > 1 year
€183,809
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 647 companies that looked in July 2024 the way this one looks now, 6.6% went bankrupt within 24 months and 86% are still going.
- Micro
- 5 to 10 years old
- solvency under 10%
- a loss of 10% of the balance sheet or more
6.6%
went bankrupt
5.6%
stopped otherwise
86%
still going
A further 2.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 1.7% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 647 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €569 | €730 | €730 | €3,449 | ▲ 373% |
| Other operating charges640/8 | €348 | €398 | €706 | €580 | €27,785 | ▲ 4,687% |
| Gross operating margin9900 | €9,341 | -€2,220 | €61,501 | -€1,292 | €17,501 | ▲ 1,454% |
| Operating profit (loss)9901 | €8,993 | -€3,187 | €60,065 | -€2,602 | -€13,733 | ▼ 428% |
| Financial income75/76B | - | - | - | €0 | €0 | ▲ 320% |
| Recurring financial income75 | - | - | - | €0 | €0 | ▲ 320% |
| Financial charges65/66B | €757 | €2,775 | €12,330 | €6,336 | €9,184 | ▲ 45.0% |
| Recurring financial charges65 | €757 | €2,775 | €12,330 | €6,336 | €9,184 | ▲ 45.0% |
| Profit (loss) for the period before taxes9903 | €8,236 | -€5,962 | €47,735 | -€8,938 | -€22,917 | ▼ 156% |
| Income taxes67/77 | €1,647 | -€329 | €11,838 | €329 | - | - |
| Profit (loss) for the period9904 | €6,589 | -€5,632 | €35,897 | -€9,267 | -€22,917 | ▼ 147% |
| Profit (loss) for the period to be appropriated9905 | €6,589 | -€5,632 | €35,897 | -€9,267 | -€22,917 | ▼ 147% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €33,966 | €211,341 | €98,917 | €329,981 | €213,076 | ▼ 35.4% |
| Fixed assets21/28 | - | €1,620 | €891 | €63,161 | €189,712 | ▲ 200% |
| Intangible fixed assets21 | - | €1,620 | €891 | €161 | - | - |
| Tangible fixed assets22/27 | - | - | - | €63,000 | €189,712 | ▲ 201% |
| Land and buildings22 | - | - | - | - | €126,712 | - |
| Other tangible fixed assets26 | - | - | - | €63,000 | €63,000 | = |
| Current assets29/58 | €33,966 | €209,720 | €98,026 | €266,820 | €23,364 | ▼ 91.2% |
| Stocks and contracts in progress3 | - | €206,374 | €0 | €248,611 | - | - |
| Stocks30/36 | - | €206,374 | €0 | €248,611 | - | - |
| Amounts receivable within one year40/41 | €33,038 | €2,818 | €79 | €13,348 | €22,327 | ▲ 67.3% |
| Trade receivables40 | €32,672 | €0 | - | - | €6,500 | - |
| Other amounts receivable41 | €366 | €2,818 | €79 | €13,348 | €15,827 | ▲ 18.6% |
| Cash at bank and in hand54/58 | €929 | €218 | €97,607 | €4,505 | €1,036 | ▼ 77.0% |
| Deferred charges and accrued income490/1 | - | €310 | €340 | €356 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €33,966 | €211,341 | €98,917 | €329,981 | €213,076 | ▼ 35.4% |
| Equity10/15 | €9,589 | €3,957 | €39,855 | €30,588 | €7,671 | ▼ 74.9% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Reserves13 | - | - | €35,897 | €35,897 | €35,897 | = |
| Distributable reserves133 | - | - | €35,897 | €35,897 | €35,897 | = |
| Profit (loss) carried forward14 | €6,589 | €957 | €957 | -€8,310 | -€31,227 | ▼ 276% |
| Amounts payable17/49 | €24,377 | €207,384 | €59,062 | €299,393 | €205,405 | ▼ 31.4% |
| Amounts payable after more than one year17 | - | - | - | - | €183,809 | - |
| Financial debts170/4 | - | - | - | - | €113,809 | - |
| Other amounts payable178/9 | - | - | - | - | €70,000 | - |
| Amounts payable within one year42/48 | €24,377 | €207,384 | €59,062 | €299,393 | €21,596 | ▼ 92.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | €6,486 | - |
| Financial debts43 | - | €165,000 | €0 | €202,500 | - | - |
| Credit institutions430/8 | - | €165,000 | €0 | €202,500 | - | - |
| Trade debts44 | €20,730 | €1,801 | €1,083 | €462 | €1,537 | ▲ 232% |
| Suppliers440/4 | €20,730 | €1,801 | €1,083 | €462 | €1,537 | ▲ 232% |
| Taxes, remuneration and social security45 | €1,647 | €1,318 | €11,838 | €11,856 | - | - |
| Taxes450/3 | €1,647 | €1,318 | €11,838 | €11,856 | - | - |
| Other amounts payable47/48 | €2,000 | €39,265 | €46,141 | €84,575 | €13,573 | ▼ 84.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,589 | -€5,632 | €35,897 | -€9,267 | -€22,917 | ▼ 147% |
| + Depreciation and write-downs630 | - | €569 | €730 | €730 | €3,449 | ▲ 373% |
| Operating cash flow (approximation) | €6,589 | -€5,063 | €36,627 | -€8,537 | -€19,468 | ▼ 128% |
| Investment in fixed assets (approximation) | - | - | €0 | -€63,000 | -€130,000 | ▼ 106% |
| Change in cash | - | -€711 | €97,389 | -€93,102 | -€3,468 | ▲ 96.3% |
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
27-08
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 27 days late
2025
31-12
Financial
Weakest financial yearnet -€22,917
Net result drops to -€22,917, the lowest in the series.
26-09
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 57 days late
2024
25-06
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €35,897
Net result €35,897 after one loss-making year.
19-06
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
19-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 19 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Mons · 1 establishment unit since 2021
Ground area
137 m²
Building footprint
98 m²
Volume, LiDAR
1,288 m³
Parcel 53053H1053/00E000, Wallonia · tallest building 15.3 m, ±4 floors. Linked by address, not a title deed.
5
companies at this address
See who is registered here
1 establishment unit
APAX
since 20212.320.049.265
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 53053H1053/00E000 | Wallonia | 136 m² | 1 · 98 m² | 15.3 m · 4 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.
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Of 13,417 companies in sector 73300 we hold annual accounts for 6,906. 3,270 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
Founded05-07-2021
Fiscal year end31-12
Activities, NACEBEL 2025
73300Public relations and communication consultancy
70200Business and other management consultancy
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0770758040
Also
9925:BE0770758040
Registered
15-12-2025
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.