APENA

Active

Private limited companyfounded 20178 yrs activeKernenergiestraat 19, 2610 Antwerpen, BelgiumKBO/BCE: BE 0683.477.539

APENA has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €26k and a net result of €23k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 77% of 26053 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.9% (low).

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Checked score

Score 2024

87 / 100

Excellent

The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability100▲+31

Solvency90▲+57

Growth78=

Track record100

Bankruptcy probability, 12 months

0.9% Low

0%0.5%1.5%4%10%≥ 25%

Credit up to €2k at 30 days acceptable

Liquidity ample (current ratio 2.47 against 0.43 in 2023; short-term debt: 35.2% and cash: 38.2% of total assets), and 35.2% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Three signals. The signal on the left, the evidence on the right.

+raises risk○neutral

Higher-failure-rate sector

In this sector companies fail more often than the Belgian average.

Gazette · bankruptcies per sector, NACE 47

Relative position

BE, all sectors

reference

Sector 47

higher

← fewer bankruptcies more bankruptcies →

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 12-10-2025, 73 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 · 7 filings

Deviation from the deadline

2025

not confirmed

2024

73 d late

2023

153 d late

2022

93 d late

2021

31 d late

2020

111 d late

2019

153 d late

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, micro schema

Equity

€26k▲ 861%

2023 · €3k

2018: €2k 2019: €5k 2020: €20k 2021: €26k 2022: €-3k 2023: €3k

2018 → 2024

Total assets

€40k▲ 12.7%

2023 · €35k

2018: €13k 2019: €20k 2020: €47k 2021: €44k 2022: €44k 2023: €35k

2018 → 2024

Net result

€23k▲ 307%

2023 · €6k

2018: €-4k 2019: €3k 2020: €15k 2021: €6k 2022: €-29k 2023: €6k

2018 → 2024

Working capital

€21k

2023 · €-19k

2018: €-2k 2019: €619 2020: €13k 2021: €15k 2022: €-19k 2023: €-19k

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€20k-€26k▲ 29.1%€-3k€3k€26k▲ 861%

Operating result€19k-€10k▼ 46.5%€-28k€8k€28k▲ 231%

Net result€15k-€6k▼ 60.0%€-29k€6k€23k▲ 307%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

After the dip in 2022 the operating result has climbed two years in a row; 2024 is 231% above 2023 and is the highest result in the available series.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €40k

13.0%

87.0%

Fixed assets €5k▼ 75.8%

Current assets €34k▲ 148%

Equity and liabilities €40k

64.8%

35.2%

Equity €26k▲ 861%

Debt €14k▼ 57.1%

The debt ratio falls from 92.4% to 35.2%. Equity is higher and debt is lower.

Key figures and ratios

2024 value · change against 2023

EBITDA

€28k▲

2023 · €9k

Cash flow

€23k▲

2023 · €7k

Solvency

64.8%▲

2023 · 7.6%

Current ratio

2.47▲

2023 · 0.43

Quick ratio

2.47▲

2023 · 0.43

Debt / equity

0.54▼

2023 · 12.15

ROE

89.6%▼

2023 · 211.6%

ROA

58.1%▲

2023 · 16.1%

Interest coverage

10.18▲

2023 · 3.62

Debt

€14k▼

2023 · €32k

Debt ≤ 1 year

€14k▼

2023 · €32k

Income taxes

€2k▲

2023 · €219

Staff costs

€4k▼

2023 · €40k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€35k€40k▲

Fixed assets21/28€21k€5k▼

Tangible fixed assets22/27€483€690▲

Plant, machinery and equipment23€483€690▲

Financial fixed assets28€21k€4k▼

Current assets29/58€14k€34k▲

Amounts receivable within one year40/41€8k€19k▲

Trade receivables40€8k€5k▼

Other amounts receivable41-€14k

Cash at bank and in hand54/58€6k€15k▲

Equity and liabilities

Total equity and liabilities10/49€35k€40k▲

Equity10/15€3k€26k▲

Contributions10/11€6k€6k=

Reserves13€20k€20k=

Distributable reserves133€20k€20k=

Profit (loss) carried forward14€-23k€-126▲

Amounts payable17/49€32k€14k▼

Amounts payable within one year42/48€32k€14k▼

Trade debts44€5k€184▼

Suppliers440/4€5k€184▼

Advances received on contracts in progress46-€10k

Taxes, remuneration and social security45€11k€3k▼

Taxes450/3€4k€3k▼

Remuneration and social security454/9€8k-

Other amounts payable47/48€16k€1k▼

Income statement Code20232024

Remuneration, social security and pensions62€40k€4k▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€949€314▼

Other operating charges640/8€574€1k▲

Gross operating margin9900€50k€33k▼

Operating profit (loss)9901€8k€28k▲

Financial charges65/66B€3k€3k▲

Recurring financial charges65€3k€3k▲

Profit (loss) for the period before taxes9903€6k€25k▲

Income taxes67/77€219€2k▲

Profit (loss) for the period9904€6k€23k▲

Profit (loss) for the period to be appropriated9905€6k€23k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-23k€-126▲

Profit (loss) brought forward from the previous period14P€-29k€-23k▲

The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 12Financial 5Filings 7

2025

12-10

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 73 days late

2024

31-12

Financial Highest result since 2018net €23k ▲307%

Operating result €28k, net result €23k, both a record.

31-12

Financial Liquidity times 6current ratio 2.47

Current ratio from 0.43 to 2.47; short-term debt falls from €32k to €14k.

31-12

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 153 days late

2023

31-12

Financial Back to profitnet €6k

Net result €6k after one loss-making year.

01-11

NBB filing Annual accounts filed

fiscal year 2022 · micro schema · 93 days late

2022

31-12

Financial Weakest financial yearnet €-29k ▼594%

Net result drops to €-29k, the lowest in the series; recovery starts the following year.

31-08

NBB filing Annual accounts filed

fiscal year 2021 · micro schema · 31 days late

2021

19-11

NBB filing Annual accounts filed

fiscal year 2020 · micro schema · 111 days late

12-08

NBB filing Annual accounts filed

fiscal year 2018 · micro schema · 743 days late

2020

31-12

NBB filing Annual accounts filed

fiscal year 2019 · micro schema · 153 days late

2019

31-12

Financial Back to profitnet €3k

Net result €3k after one loss-making year.

Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

no sitting director, no change since 2025

We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.

15-12-2025 Payam Torabizadeh: Resigned as Director

01-04-2019 RASEKH Jila: Resigned as Manager

Location & real-estate footprint

Registered office, Antwerpen · 1 establishment unit since 2017

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Kernenergiestraat 192610 Antwerpen

Ground area

1,700 m²

Building footprint

1,109 m²