APEC
InactiveFinancials · financial year 2025, micro format
Turnover
≈ €100,000
Estimated: probably between €62,000 and €190,000
Total assets
€315,389▲ 6.7%
2024 · €295,517
Net result
€20,887
2024 · -€11,954
Working capital
€296,101▲ 7.6%
2024 · €275,214
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result returns to profit in 2025: €17,166 after a loss of €17,870 in 2024, the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€17,166
2025
Net result€20,887
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€315,389
2025
Equity€312,435
2025
Debt€2,955
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital€296,101
2025
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€748-€1,717▲ 129%-€52,037-€29,977▲ 42.4%-€3,674▲ 87.7%-€17,870▼ 386%€17,166
Net result€2,869-€3,334▲ 16.2%-€48,224-€26,415▲ 45.2%€1,252-€11,954€20,887
Equity€373,553-€376,887▲ 0.9%€328,664▼ 12.8%€302,249▼ 8.0%€303,501▲ 0.4%€291,547▼ 3.9%€312,435▲ 7.2%
Total assets€394,948-€387,794▼ 1.8%€333,442▼ 14.0%€312,631▼ 6.2%€312,897▲ 0.1%€295,517▼ 5.6%€315,389▲ 6.7%
Debt€14,990-€5,783▼ 61.4%€935▼ 83.8%€7,820▲ 736%€8,116▲ 3.8%€3,969▼ 51.1%€2,955▼ 25.6%
Working capital€212,924-€264,078▲ 24.0%€268,436▲ 1.7%€260,778▼ 2.9%€280,644▲ 7.6%€275,214▼ 1.9%€296,101▲ 7.6%
Turnover and EBIT margin not published: the micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €315,389
Fixed assets
€16,333 =
Current assets
€299,056 ▲ 7.1%
Equity and liabilities €315,389
Equity
€312,435 ▲ 7.2%
Debt
€2,955 ▼ 25.6%
Debt's share of the balance-sheet total falls from 1.3% to 0.9%. Equity is higher and debt is lower.
Key figures and ratios
Debt to equity
0.01▼
2024 · 0.01
ROE
6.7%▲
2024 · -4.1%
ROA
6.6%▲
2024 · -4.0%
Debt ≤ 1 year
€2,955▼
2024 · €3,969
Income taxes
€432▲
2024 · -€226
A ratio outside any meaningful range has been withheld (balance sheet total €315,389, equity €312,435).
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €55,695 | €57,343 | €56,675 | €20,038 | €19,895 | €8,133 | - | - |
| Other operating charges640/8 | - | - | - | €4,087 | €3,922 | €3,155 | €8,519 | ▲ 170% |
| Gross operating margin9900 | €60,177 | €62,372 | €9,167 | -€5,852 | €20,142 | -€6,581 | €25,684 | - |
| Operating profit (loss)9901 | €748 | €1,717 | -€52,037 | -€29,977 | -€3,674 | -€17,870 | €17,166 | - |
| Financial income75/76B | - | - | - | €4,046 | €5,218 | €4,850 | €4,368 | ▼ 9.9% |
| Recurring financial income75 | €6,282 | €3,884 | €3,502 | €4,046 | €5,218 | €4,850 | €4,368 | ▼ 9.9% |
| Financial charges65/66B | - | - | - | €97 | €789 | €440 | €215 | ▼ 51.2% |
| Recurring financial charges65 | €1,332 | €317 | €90 | €97 | €789 | €440 | €215 | ▼ 51.2% |
| Profit (loss) for the period before taxes9903 | €5,698 | €5,284 | -€48,625 | -€26,028 | €755 | -€13,460 | €21,319 | - |
| Transfer from deferred taxes780 | - | - | - | €1,281 | €1,281 | €1,281 | - | - |
| Income taxes67/77 | €4,110 | €3,231 | €879 | €1,668 | €784 | -€226 | €432 | - |
| Profit (loss) for the period9904 | €2,869 | €3,334 | -€48,224 | -€26,415 | €1,252 | -€11,954 | €20,887 | - |
| Transfer from tax-exempt reserves789 | - | - | - | €1,844 | €1,844 | €1,844 | - | - |
| Profit (loss) for the period to be appropriated9905 | €4,713 | €5,178 | -€46,380 | -€24,571 | €3,096 | -€10,110 | €20,887 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €394,948 | €387,794 | €333,442 | €312,631 | €312,897 | €295,517 | €315,389 | ▲ 6.7% |
| Fixed assets21/28 | €167,035 | €117,933 | €64,071 | €44,033 | €24,138 | €16,333 | €16,333 | = |
| Tangible fixed assets22/27 | €167,035 | €117,933 | €64,071 | €44,033 | €24,138 | €16,333 | €16,333 | = |
| Land and buildings22 | - | - | - | €31,040 | €20,028 | €13,333 | €13,333 | = |
| Plant, machinery and equipment23 | - | - | - | €4,564 | €3,126 | €2,016 | €2,016 | = |
| Furniture and vehicles24 | - | - | - | €3,873 | €984 | €984 | €984 | = |
| Other tangible fixed assets26 | - | - | - | €4,557 | - | - | - | - |
| Current assets29/58 | €227,913 | €269,861 | €269,371 | €268,598 | €288,759 | €279,183 | €299,056 | ▲ 7.1% |
| Amounts receivable within one year40/41 | €7,500 | €7,535 | €19,353 | €4,205 | €5,921 | €5,328 | €6,525 | ▲ 22.4% |
| Trade receivables40 | - | - | - | €1 | €1 | €1 | €1 | = |
| Other amounts receivable41 | - | - | - | €4,204 | €5,920 | €5,327 | €6,524 | ▲ 22.5% |
| Cash at bank and in hand54/58 | €220,413 | €262,326 | €248,938 | €264,393 | €282,838 | €273,855 | €292,532 | ▲ 6.8% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €394,948 | €387,794 | €333,442 | €312,631 | €312,897 | €295,517 | €315,389 | ▲ 6.7% |
| Equity10/15 | €373,553 | €376,887 | €328,664 | €302,249 | €303,501 | €291,547 | €312,435 | ▲ 7.2% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €354,953 | €358,287 | €356,444 | €354,600 | €352,756 | €350,913 | €350,913 | = |
| Non-distributable reserves130/1 | - | - | - | €5,595 | €5,595 | €5,595 | €5,595 | = |
| Reserves not available under the articles1311 | - | - | - | €5,595 | €5,595 | €5,595 | €5,595 | = |
| Tax-exempt reserves132 | - | - | - | €3,687 | €1,844 | - | - | - |
| Distributable reserves133 | - | - | - | €345,318 | €345,318 | €345,318 | €345,318 | = |
| Profit (loss) carried forward14 | - | - | -€46,380 | -€70,951 | -€67,855 | -€77,966 | -€57,078 | ▲ 26.8% |
| Provisions and deferred taxes16 | €6,405 | €5,124 | €3,843 | €2,562 | €1,281 | - | - | - |
| Deferred taxes168 | - | - | - | €2,562 | €1,281 | - | - | - |
| Amounts payable17/49 | €14,990 | €5,783 | €935 | €7,820 | €8,116 | €3,969 | €2,955 | ▼ 25.6% |
| Amounts payable within one year42/48 | €14,990 | €5,783 | €935 | €7,820 | €8,116 | €3,969 | €2,955 | ▼ 25.6% |
| Trade debts44 | - | €5,783 | €930 | €1,825 | €309 | €1,033 | €2,950 | ▲ 185% |
| Suppliers440/4 | - | - | - | €1,825 | €309 | €1,033 | €2,950 | ▲ 185% |
| Taxes, remuneration and social security45 | - | - | - | €5 | €689 | €5 | €5 | = |
| Taxes450/3 | - | - | - | - | €684 | - | - | - |
| Remuneration and social security454/9 | - | - | - | €5 | €5 | €5 | €5 | = |
| Other amounts payable47/48 | - | - | - | €5,990 | €7,118 | €2,931 | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2,869 | €3,334 | -€48,224 | -€26,415 | €1,252 | -€11,954 | €20,887 | - |
| + Depreciation and write-downs630 | €55,695 | €57,343 | €56,675 | €20,038 | €19,895 | €8,133 | - | - |
| Operating cash flow (approximation) | €58,564 | €60,677 | €8,452 | -€6,376 | €21,147 | -€3,820 | €20,887 | - |
| Investment in fixed assets (approximation) | - | -€8,242 | -€2,813 | €0 | €0 | -€329 | €0 | - |
| Change in cash | - | €41,912 | -€13,388 | €15,455 | €18,445 | -€8,984 | €18,677 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 33 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-06-2025 | micro format | 30-01-2026 | 2026-00024282 |
| 30-06-2024 | micro format | 29-01-2025 | 2025-00016533 |
| 30-06-2023 | micro format | 08-02-2024 | 2024-00028767 |
| 30-06-2022 | micro format | 02-02-2023 | 2023-00019238 |
| 30-06-2021 | micro format | 15-02-2022 | 2022-05500550 |
| 30-06-2020 | micro format | 26-01-2021 | 2021-01600328 |
| 30-06-2019 | micro format | 17-03-2020 | 2020-06800033 |
| 30-06-2018 | micro format | 19-02-2019 | 2019-05200151 |
| 30-06-2017 | micro format | 06-02-2018 | 2018-04300529 |
| 30-06-2016 | abbreviated format | 24-01-2017 | 2017-02100065 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.