APEX R&D
ActiveSummary
APEX R&D has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5.52M and a net result of €1.28M. Equity is growing by ~21.1% per year across the filed fiscal years. Its solvency ranks better than 95% of 2692 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
97
/ 100
Excellent
The score weighs solvency, liquidity, profitability and financial development. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability97▲+4
Solvency100=
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500k at 30 days acceptable
Liquidity ample (current ratio 48.8 against 20.97 in 2024; short-term debt: 2% and cash: 35.5% of total assets), and 2.1% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 62
Relative position
BE, all sectors
reference
Sector 62
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
97.9%
Return on assets
22.7%
Age of the figures
18 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 31-03-2025 was due by 31-10-2025 and was filed on 11-07-2025, 112 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
112 d early
2024
29 d late
2023
1 d early
2022
3 d early
2021
25 d early
2020
1 d early
2018
34 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-03-2026 and is due by 31-10-2026. Nothing is late today.
Companies Code · seven monthsPosition in the running window
31-03-2026 close24-09-2026 today31-10-2026 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€5.52M▲ 30.2%
2024 · €4.24M
2020: €2.07M
2021: €2.39M
2022: €3.22M
2023: €3.39M
2024: €4.24M
2020 → 2025
Total assets
€5.64M▲ 26.7%
2024 · €4.45M
2020: €2.32M
2021: €2.69M
2022: €3.36M
2023: €3.63M
2024: €4.45M
2020 → 2025
Net result
€1.28M▲ 51.1%
2024 · €847k
2020: €1.15M
2021: €494k
2022: €832k
2023: €412k
2024: €847k
2020 → 2025
Working capital
€5.50M▲ 30.7%
2024 · €4.21M
2020: €2.03M
2021: €2.35M
2022: €3.18M
2023: €3.37M
2024: €4.21M
2020 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€2.39M-€3.22M▲ 34.8%€3.39M▲ 5.5%€4.24M▲ 24.9%€5.52M▲ 30.2%
Operating result€622k-€930k▲ 49.6%€451k▼ 51.5%€816k▲ 81.1%€1.21M▲ 48.7%
Net result€494k-€832k▲ 68.3%€412k▼ 50.5%€847k▲ 106%€1.28M▲ 51.1%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 49% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €5.64M
Fixed assets
€23k ▼ 21.3%
Current assets
€5.62M ▲ 27.0%
Equity and liabilities €5.64M
Equity
€5.52M ▲ 30.2%
Debt
€121k ▼ 42.7%
Debt's share of the balance-sheet total falls from 4.7% to 2.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.22M▲
2024 · €826k
Cash flow
€1.29M▲
2024 · €857k
Current ratio
48.80▲
2024 · 20.97
Debt to equity
0.02▼
2024 · 0.05
ROE
23.2%▲
2024 · 20.0%
ROA
22.7%▲
2024 · 19.0%
Interest coverage
13.07▲
2024 · 8.03
Debt ≤ 1 year
€115k▼
2024 · €211k
Income taxes
€33k▼
2024 · €41k
Staff costs
€333k▲
2024 · €191k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 54 lines
Balance sheet
Code20242025
Assets
Total assets20/58€4.45M€5.64M▲
Fixed assets21/28€29k€23k▼
Intangible fixed assets21€1k€50▼
Tangible fixed assets22/27€28k€23k▼
Land and buildings22€9k€8k▼
Plant, machinery and equipment23€4k€2k▼
Furniture and vehicles24€16k€12k▼
Current assets29/58€4.42M€5.62M▲
Amounts receivable within one year40/41€601k€409k▼
Trade receivables40€568k€386k▼
Other amounts receivable41€33k€24k▼
Current investments50/53€2.19M€3.18M▲
Cash at bank and in hand54/58€1.61M€2.00M▲
Deferred charges and accrued income490/1€19k€23k▲
Equity and liabilities
Total equity and liabilities10/49€4.45M€5.64M▲
Equity10/15€4.24M€5.52M▲
Contributions10/11€19k€19k=
Reserves13€3.27M€3.25M▼
Tax-exempt reserves132€26k€0▼
Distributable reserves133€3.25M€3.25M=
Profit (loss) carried forward14€947k€2.25M▲
Amounts payable17/49€211k€121k▼
Amounts payable within one year42/48€211k€115k▼
Trade debts44€145k€35k▼
Suppliers440/4€145k€35k▼
Taxes, remuneration and social security45€61k€70k▲
Taxes450/3€19k€22k▲
Remuneration and social security454/9€42k€49k▲
Other amounts payable47/48€5k€10k▲
Accrued charges and deferred income492/3-€6k
Income statement
Code20242025
Non-recurring operating income76A-€10k
Remuneration, social security and pensions62€191k€333k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€10k€11k▲
Other operating charges640/8€1k€2k▲
Non-recurring operating charges66A-€55
Gross operating margin9900€1.02M€1.56M▲
Operating profit (loss)9901€816k€1.21M▲
Financial income75/76B€175k€193k▲
Recurring financial income75€175k€193k▲
Financial charges65/66B€103k€94k▼
Recurring financial charges65€103k€94k▼
Profit (loss) for the period before taxes9903€888k€1.31M▲
Income taxes67/77€41k€33k▼
Profit (loss) for the period9904€847k€1.28M▲
Transfer from tax-exempt reserves789-€26k
Profit (loss) for the period to be appropriated9905€847k€1.31M▲
Appropriation of the result
Profit (loss) to be appropriated9906€1.35M€2.25M▲
Profit (loss) brought forward from the previous period14P€501k€947k▲
Transfer from equity791/2€0-
Transfer to equity691/2€400k€0▼
To other reserves6921€400k€0▼
Profit to be distributed694/7€0-
Return on contributions (dividend)694€0-
Social balance
Average headcount (FTE)90873.04.0▲
The notes to these accounts (14 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2025
11-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
31-03
Financial
Highest result since 2020net €1.28M ▲51.1%
Net result €1.28M, the highest in the series.
31-03
Financial
Liquidity doublescurrent ratio 48.80
Current ratio from 20.97 to 48.80; short-term debt falls from €211k to €115k.
31-03
Financial
Equity above €5MEq €5.52M ▲30.2%
6 profitable years in a row build equity to €5.52M.
2024
29-11
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2023
30-10
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
31-03
Financial
Weakest financial yearnet €412k ▼50.5%
Net result drops to €412k, the lowest in the series; recovery starts the following year.
2022
28-10
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
31-03
Financial
Liquidity triplescurrent ratio 24.07
Current ratio from 8.63 to 24.07; short-term debt falls from €308k to €138k.
2021
06-10
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2020
30-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2018
28-12
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Show earlier events
2017
04-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
23-12
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2015
23-12
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
8 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, Leuven · 1 establishment unit since 2012
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.
Waversebaan 2763001 LeuvenGround area
1,523 m²
Building footprint
260 m²
Volume, LiDAR
203 m³
Parcel 24432H0037/00V017, Flanders · tallest building 14.6 m. Linked by address, not a title deed.
1 establishment unit
APEX R&D / APEX Health
since 20122.211.082.633
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 24432H0037/00V017 | Flanders | 1,523 m² | 1 · 260 m² | 14.6 m |
Linked by address, not proof of ownership
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.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 6 entries · 53,374 EUR awarded · 53,374 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 2 | -4,079 EUR | 8,421 EUR |
| 2023 | 2 | 32,025 EUR | 44,525 EUR |
| 2022 | 2 | 25,428 EUR | 428 EUR |
Schemes
Subsidies voor internationaal ondernemen
Kmo-groeisubsidie: steun voor groeitrajecten bij kmo's (stopgezet)
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
Recognitions · licences · registrations
Legal Entity Identifier
967600NP6G4FEAA8UP34
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Of 16,884 companies in sector 62100 we hold annual accounts for 8,775. 1,218 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded24-05-2012
Fiscal year end31-03
Activities, NACEBEL 2025
62100Computer programming
62900Other information technology and computer services
73300Public relations and communication consultancy
Sources
Crossroads Bank for EnterprisesNational Bank · 12 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.