APEX SERVICES
ActiveSummary
APEX SERVICES has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €168,326 and a net result of €170,035. Equity is growing by ~31.7% per year across the filed fiscal years. Its solvency ranks better than 30% of 999 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability100▲+55
Solvency54▲+29
Growth78▲+46
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €11,000 at 30 days acceptable
Liquidity tight (current ratio 1.36 against 0.67 in 2023; short-term debt: 39.8% and cash: 18.9% of total assets), and 71.3% of the assets are financed with debt.
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Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 78
Relative position
BE, all sectors
reference
Employment activities (NACE 78)
about 17% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 18-08-2025, 18 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 filingsDeviation from the deadline
2025
not confirmed
2024
18 d late
2023
40 d late
2022
32 d late
2021
30 d early
2020
164 d late
2019
126 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 58 days after the deadline; the sector median for financial year 2024 is 14 days before the deadline, and 30% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, micro schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€170,035▲ 2,022%
2023 · €8,012
Working capital
€84,454
2023 · -€87,139
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 78, Employment 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
Line20202021202220232024
Operating result-€134,909€27,853€47,726▲ 71.3%€33,131▼ 30.6%€224,728▲ 578%
Net result-€157,264below the sector's middle half€5,673within the sector's middle half€19,378within the sector's middle half▲ 242%€8,012within the sector's middle half▼ 58.7%€170,035above the sector's middle half▲ 2,022%
Equity-€34,772below the sector's middle half-€29,099below the sector's middle half▲ 16.3%-€9,721below the sector's middle half▲ 66.6%-€1,709below the sector's middle half▲ 82.4%€168,326above the sector's middle half
Total assets€721,710above the sector's middle half▲ 188%€668,086above the sector's middle half▼ 7.4%€524,601within the sector's middle half▼ 21.5%€479,732below the sector's middle half▼ 8.6%€585,952above the sector's middle half▲ 22.1%
Debt€756,482▲ 440%€697,185▼ 7.8%€534,322▼ 23.4%€481,441▼ 9.9%€417,626▼ 13.3%
Working capital-€87,599below the sector's middle half-€124,732below the sector's middle half▼ 42.4%-€93,850below the sector's middle half▲ 24.8%-€87,139below the sector's middle half▲ 7.2%€84,454within the sector's middle half
Solvency-4.8%below the sector's middle half▼ 48.8pp-4.4%below the sector's middle half▲ 0.5pp-1.9%below the sector's middle half▲ 2.5pp-0.4%below the sector's middle half▲ 1.5pp28.7%within the sector's middle half▲ 29.1pp
Current ratio0.68below the sector's middle half▼ 0.960.56below the sector's middle half▼ 0.120.68below the sector's middle half▲ 0.110.67below the sector's middle half▼ 0.011.36within the sector's middle half▲ 0.69
Return on assets (ROA)-21.8%below the sector's middle half▼ 40.1pp0.8%below the sector's middle half▲ 22.6pp3.7%within the sector's middle half▲ 2.8pp1.7%within the sector's middle half▼ 2.0pp29.0%within the sector's middle half▲ 27.3pp
Staff (FTE)3within the sector's middle half=3=2below the sector's middle half▼ 33.3%4below the sector's middle half▲ 100%4=
above
within
below
the middle half (P25 to P75) of NACE 78, Employment activities, each year against the same schema; no band under 30 filings.
Why a figure moved sharply
- 2024 Net result +2,022% on 2023. The accounts now follow the micro schema, last year the full schema.
Staff figure corrected
- 2022 Filed: 113,642; shown: 2 (source: social balance report). The filed figure means under EUR 100 of staff costs per FTE.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2024; 2024 is 578% above 2023 and is the highest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €585,952
Fixed assets
€268,453 ▼ 11.2%
Current assets
€317,499 ▲ 79.0%
Equity and liabilities €585,952
Equity
€168,326
Debt
€417,626
Debt finances 71.3% of the balance-sheet total.
Key figures and ratios
EBITDA
€258,616▲
2023 · €65,901
Cash flow
€203,923▲
2023 · €40,782
Debt to equity
2.48
ROE
101.0%
Interest coverage
42.77▲
2023 · 2.92
Debt ≤ 1 year
€233,045▼
2023 · €264,530
Debt > 1 year
€184,581▼
2023 · €216,911
Income taxes
€53,307▲
2023 · €6,008
Staff costs
€339,405▲
2023 · €126,383
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,713 companies that looked in July 2024 the way this one looks now, 1.8% went bankrupt within 24 months and 96% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
1.8%
went bankrupt
2.2%
stopped otherwise
96%
still going
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.9% 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 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% | 1.0% |
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% 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 6,713 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 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €119,889 | - | - | - |
| Remuneration, social security and pensions62 | - | €92,589 | €113,642 | €126,383 | €339,405 | ▲ 169% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €22,045 | €20,992 | €30,161 | €32,770 | €33,888 | ▲ 3.4% |
| Other operating charges640/8 | - | €18,118 | €9,669 | €14,601 | €25,439 | ▲ 74.2% |
| Non-recurring operating charges66A | - | €2,750 | - | - | - | - |
| Gross operating margin9900 | €94,603 | €162,302 | €201,198 | €206,885 | €623,460 | ▲ 201% |
| Operating profit (loss)9901 | -€134,909 | €27,853 | €47,726 | €33,131 | €224,728 | ▲ 578% |
| Financial income75/76B | - | - | - | €3,446 | €4,660 | ▲ 35.2% |
| Recurring financial income75 | - | - | - | €3,446 | €4,660 | ▲ 35.2% |
| Financial charges65/66B | - | €12,199 | €8,450 | €22,557 | €6,046 | ▼ 73.2% |
| Recurring financial charges65 | €4,413 | €12,199 | €8,450 | €22,557 | €6,046 | ▼ 73.2% |
| Profit (loss) for the period before taxes9903 | -€139,322 | €15,654 | €39,276 | €14,020 | €223,342 | ▲ 1,493% |
| Income taxes67/77 | €17,942 | €9,981 | €19,898 | €6,008 | €53,307 | ▲ 787% |
| Profit (loss) for the period9904 | -€157,264 | €5,673 | €19,378 | €8,012 | €170,035 | ▲ 2,022% |
| Profit (loss) for the period to be appropriated9905 | -€157,264 | €5,673 | €19,378 | €8,012 | €170,035 | ▲ 2,022% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €721,710 | €668,086 | €524,601 | €479,732 | €585,952 | ▲ 22.1% |
| Fixed assets21/28 | €532,827 | €508,362 | €328,829 | €302,341 | €268,453 | ▼ 11.2% |
| Intangible fixed assets21 | - | - | €1,008 | €756 | €504 | ▼ 33.3% |
| Tangible fixed assets22/27 | €529,192 | €508,362 | €327,821 | €301,585 | €267,949 | ▼ 11.2% |
| Land and buildings22 | - | €457,000 | €253,500 | €240,500 | €227,500 | ▼ 5.4% |
| Plant, machinery and equipment23 | - | €40,739 | €44,172 | €36,082 | €24,425 | ▼ 32.3% |
| Furniture and vehicles24 | - | €10,623 | €30,149 | €25,003 | €16,024 | ▼ 35.9% |
| Leasing and similar rights25 | - | €0 | - | - | - | - |
| Financial fixed assets28 | €3,635 | €0 | - | - | - | - |
| Current assets29/58 | €188,883 | €159,724 | €195,772 | €177,391 | €317,499 | ▲ 79.0% |
| Amounts receivable within one year40/41 | €101,403 | €1,320 | €124 | €96,761 | €105,536 | ▲ 9.1% |
| Trade receivables40 | - | - | - | €96,761 | €105,536 | ▲ 9.1% |
| Other amounts receivable41 | - | €1,320 | €124 | - | - | - |
| Cash at bank and in hand54/58 | €45,858 | €17,304 | €50,141 | €44,573 | €110,650 | ▲ 148% |
| Deferred charges and accrued income490/1 | - | €141,100 | €145,507 | €36,057 | €101,313 | ▲ 181% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €721,710 | €668,086 | €524,601 | €479,732 | €585,952 | ▲ 22.1% |
| Equity10/15 | -€34,772 | -€29,099 | -€9,721 | -€1,709 | €168,326 | ▲ 9,949% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €20,460 | ▲ 10.0% |
| Capital10 | - | €18,600 | €18,600 | €18,600 | - | - |
| Issued capital100 | - | €18,600 | €18,600 | €18,600 | - | - |
| Reserves13 | €103,892 | €103,892 | €103,892 | €103,892 | €102,032 | ▼ 1.8% |
| Non-distributable reserves130/1 | - | €1,860 | €1,860 | €1,860 | - | - |
| Legal reserve130 | - | €1,860 | €1,860 | €1,860 | - | - |
| Distributable reserves133 | - | €102,032 | €102,032 | €102,032 | €102,032 | = |
| Profit (loss) carried forward14 | -€157,264 | -€151,591 | -€132,213 | -€124,201 | €45,834 | ▲ 137% |
| Amounts payable17/49 | €756,482 | €697,185 | €534,322 | €481,441 | €417,626 | ▼ 13.3% |
| Amounts payable after more than one year17 | €480,000 | €412,729 | €244,700 | €216,911 | €184,581 | ▼ 14.9% |
| Financial debts170/4 | - | €412,729 | €244,700 | €216,911 | €184,581 | ▼ 14.9% |
| Amounts payable within one year42/48 | €276,482 | €284,456 | €289,622 | €264,530 | €233,045 | ▼ 11.9% |
| Current portion of amounts payable after more than one year42 | - | €140,978 | €51,001 | €51,619 | €86,302 | ▲ 67.2% |
| Trade debts44 | €71,919 | €61,869 | €14,144 | €30,435 | €32,040 | ▲ 5.3% |
| Suppliers440/4 | - | €61,869 | €14,144 | €30,435 | €32,040 | ▲ 5.3% |
| Taxes, remuneration and social security45 | - | €15,135 | €12,357 | €57,058 | €112,280 | ▲ 96.8% |
| Taxes450/3 | - | €15,135 | €12,357 | €57,058 | €87,714 | ▲ 53.7% |
| Remuneration and social security454/9 | - | - | - | - | €24,566 | - |
| Other amounts payable47/48 | - | €66,474 | €212,120 | €125,418 | €2,423 | ▼ 98.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€157,264 | €5,673 | €19,378 | €8,012 | €170,035 | ▲ 2,022% |
| + Depreciation and write-downs630 | €22,045 | €20,992 | €30,161 | €32,770 | €33,888 | ▲ 3.4% |
| Operating cash flow (approximation) | -€135,219 | €26,665 | €49,539 | €40,782 | €203,923 | ▲ 400% |
| Investment in fixed assets (approximation) | - | €3,473 | €149,372 | -€6,282 | €0 | ▲ 100% |
| Change in cash | - | -€28,554 | €32,837 | -€5,568 | €66,077 | ▲ 1,287% |
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
2025
18-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 18 days late
2024
31-12
Financial
Highest result since 2018net €170,035 ▲2,022%
Operating result €224,728, net result €170,035, both a record.
31-12
Financial
Liquidity doublescurrent ratio 1.36
Current ratio from 0.67 to 1.36; short-term debt falls from €264,530 to €233,045.
31-12
Financial
Equity above €150,000Eq €168,326
4 profitable years in a row build equity to €168,326.
09-09
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 40 days late
2023
01-09
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 32 days late
2022
01-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
11-01
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 164 days late
2021
31-12
Financial
Back to profitnet €5,673
Net result €5,673 after one loss-making year.
2020
31-12
Financial
Weakest financial yearnet -€157,264
Net result drops to -€157,264, the lowest in the series; recovery starts the following year.
04-12
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 126 days late
2019
31-12
Financial
Equity above €100,000Eq €110,092 ▲71.2%
2 profitable years in a row build equity to €110,092.
16-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 47 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Brussel · 1 establishment unit since 2018
Ground area
1.1 ha
Building footprint
2,519 m²
Volume, LiDAR
27,072 m³
2 parcels, Brussels, Flanders · tallest building 30.3 m, ±5 floors. Linked by address, not a title deed.
14
companies at this address
See who is registered here
1 establishment unit
Apex Services BV
since 20182.279.616.301
2 parcels
Flanders
1
(50%)
Brussels
1
(50%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 23644H0058/00K000 | Flanders | 1.1 ha | 1 · 2,393 m² | 13.0 m · 4 fl. |
| 21447B0209/00H002 | Brussels | 277 m² | 1 · 127 m² | 30.3 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels 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 · 4 entries · 12,662 EUR awarded · 12,662 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 2,295 EUR | 2,295 EUR |
| 2024 | 1 | 1,440 EUR | 1,440 EUR |
| 2023 | 1 | 8,627 EUR | 8,627 EUR |
| 2022 | 1 | 300 EUR | 300 EUR |
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Of 2,360 companies in sector 78100 we hold annual accounts for 1,364. 1,085 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
Founded02-11-2017
Fiscal year end31-12
Activities, NACEBEL 2025
78100Employment placement agencies
70200Business and other management consultancy
78200Temporary employment agencies and other provision of personnel
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0683928588
Registered
27-03-2026
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.