Turnover
≈ €110,000 estimated
The micro format states no turnover.
APFL
Overview
Lifetime
1 annual account with figurespeak €27,059 (2025)
€27,059
lowest -€3,434 (2025)
-€3,434
peak €66 (2025)
€66
€52,115
Board1 name since 2024
1 directorLECOT Françoise Anne Albertine
Documentsfilings and deeds
19-06-202642 days before the deadline
2025micro format
Loss of €3,434First year with figures
Key points
from the 2025 annual accountsDebts
€52,115 100% of the balance sheet
Financial debts 48%Suppliers 6%Taxes and wages 13%Other 34%
Of this, €27,627 falls due within a year.
Starting capital
€3,500
Checked score
87
Excellent
Financially stronger than 37% of micro companies in publishing (NACE 58)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: 0.1% across 1,282 companies (NACE 58, micro).
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
08-2025: 0.5%
09-2025: 0.5%● unchanged vs 08-2025
10-2025: 0.5%● unchanged vs 09-2025
11-2025: 0.5%● unchanged vs 10-2025
12-2025: 0.6%▲ +0.1 percentage points vs 11-2025
01-2026: 0.6%● unchanged vs 12-2025
02-2026: 0.6%● unchanged vs 01-2026
03-2026: 0.7%▲ +0.1 percentage points vs 02-2026
04-2026: 0.6%▼ -0.1 percentage points vs 03-2026
05-2026: 0.6%● unchanged vs 04-2026
06-2026: 0.7%▲ +0.1 percentage points vs 05-2026
07-2026: 0.7%● unchanged vs 06-2026
08-2026: 0.7%● unchanged vs 07-2026highest value
09-2026: 0.7%● unchanged vs 08-2026
10-2026: 0.2%▼ -0.5 percentage points vs 09-2026lowest value
11-2026: 0.2%● unchanged vs 10-2026lowest value
Financial strengthWeak
Score breakdown
raises risk
Equity €66 (0.1% of total assets)
lowers risk
Sector: Publishing activities (NACE 58)
Liquidity: current ratio 1.50, cash €23,710
Size: total assets €52,181
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 58, micro). It does better than 20% of them on solvency, 65% on liquidity and 27% on profitability.
The bankruptcy probability was computed on 09-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Comparable companies, two years later
In July 2024, 1,301 companies had the same profile as APFL has now. Each dot stands for 4 companies, two years later.
92.5%
were still trading
1.6%
stopped another way
5.5%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of APFL itself is lower: 0.2% within 12 months. It rests on far more data about APFL than the profile alone.
Test of the method
The method was tested on the 497,447 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% | 0.9% |
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 1,301 companies, not a prediction for APFL. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Seven signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 23% of 825 sector peers (2025).
NBB · sector comparisonPosition among 825 sector peers
Solvency
better than 23%
← weakest
strongest →
raises risk · Young company
Founded in 2024, 2 years ago. Young companies fail more often than established ones; the risk is highest 2 to 8 years after founding.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 19-06-2026, 42 days ahead of the deadline.
NBB · 1 filingDeviation from the deadline
2025
42 days early
← before the deadline
after the deadline →
Searched, nothing found (1)
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:1010972602
Incorporation
Founding capital of €3,500, 100 shares · Founder: LECOT Françoise Anne Albertine · Appointment: LECOT Françoise Anne Albertine (director) · published on 03-07-2024 · Gazette deed
First establishment
Steenweg op Waver 717, Etterbeek
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| APFL Grez-Doiceau | €52,181 | €27,059 | 0.1% | - |
| Benassi Media Ixelles | €53,931 | €18,790 | 33.7% | - |
| ACCESS TO MEDIAS & GOVERNANCE Trooz | €65,219 | €19,954 | 27.4% | - |
| Globel Agency Ixelles | €38,163 | €35,543 | 11.5% | - |
| Tips voor Fietsers Lommel | €51,071 | €50,729 | 77.8% | - |
| OmniaParadox Walcourt | €33,686 | €30,566 | 37.5% | - |
| DC NEXUS EUROPE Sint-Gillis (bij-Brussel) | €27,808 | €20,620 | 67.5% | - |
These companies have the same main activity as APFL: other publishing activities, excluding software publishing (NACE 58190). They are comparable in size and age: total assets between €27,800 and €65,200, founded between 2024 and 2025.
Official details
Source: KBO- Status
- Active since 01-07-2024Normal situation
- Activity
- Other publishing activities, excluding software publishingNACE 58190and 1 other
- Joint committees
- 201Independent retail
- 100Auxiliary committee for blue-collar workers · annual accounts 2025
- Establishment unit
- 2.361.055.5211040 Etterbeek, since 01-07-2024
- Financial year end
- 31 December
- Peppol
- Reachable since 01-01-2026
Annual accounts 2025
- €27,059
- €3,434
- €66
- €52,181
- 1.9 FTE
- Filing
- Filed on 19-06-2026, 42 days before the end of the filing period
Insights on APFL
APFL has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €66 and a net result of -€3,434.
Its solvency ranks better than 23% of 825 sector peers (NACE 58, financial year 2025). The computed 12-month bankruptcy probability is 0.2% (very low).
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 19-06-2026, 42 days before the deadline€27,059
€2,830
-€3,434
€13,766
0.1%
1.50
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €110,000. Estimated: probably between €65,000 and €200,000.
Balance sheet
balance sheet total €52,181 on 31-12-2025What the company ownsHow it is paid for
Position in the sector
0.1%
Higher than 23% of 825 companies in 2025.
1.50
Higher than 41% of 759 companies in 2025.
-6.6%
Higher than 24% of 781 companies in 2025.
APFL
Middle half of the sector
80% of the sector
Micro accounts in publishing (NACE 58)
Net result: middle half · Equity: bottom quarter · Balance sheet total: middle half · Working capital: middle half
Staff
€9,268
Staff costs divided by the average number of full-time equivalents.
+3 people
people who joined
people who left
In 2025, 6 people joined and 3 left.
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 |
|---|---|---|
| Balance sheet: assets | ||
20/58 |
52,181 | |
21/28 |
10,788 | |
21 |
543 | |
22/27 |
10,245 | |
23 |
3,599 | |
24 |
275 | |
26 |
6,372 | |
29/58 |
41,392 | |
3 |
13,771 | |
30/36 |
13,771 | |
40/41 |
742 | |
40 |
242 | |
41 |
500 | |
54/58 |
23,710 | |
490/1 |
3,169 | |
| Balance sheet: equity and liabilities | ||
10/49 |
52,181 | |
10/15 |
66 | |
10/11 |
3,500 | |
14 |
-3,434 | |
17/49 |
52,115 | |
17 |
24,488 | |
170/4 |
24,488 | |
42/48 |
27,627 | |
42 |
8,119 | |
43 |
593 | |
430/8 |
593 | |
44 |
2,974 | |
440/4 |
2,974 | |
45 |
6,598 | |
450/3 |
5,936 | |
454/9 |
662 | |
47/48 |
9,343 | |
| Income statement | ||
9900 |
27,059 | |
62 |
17,609 | |
630 |
4,566 | |
640/8 |
2,054 | |
9901 |
2,830 | |
75/76B |
226 | |
75 |
226 | |
65/66B |
6,490 | |
65 |
6,490 | |
9903 |
-3,434 | |
9904 |
-3,434 | |
9905 |
-3,434 | |
| Appropriation of the result | ||
9906 |
-3,434 | |
| Social balance sheet | ||
9087 |
1.9 | |
| Document | ||
The notes to these accounts have 10 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 19-06-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 19-06-2026 | 2026-00184964 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 |
|---|---|---|
| 7,396 | ||
| 1,132 | ||
| 15,354 | ||
| 13,766 | ||
| 0.1% | ||
| 1.50 | ||
| 1.00 | ||
| -6.6% | ||
| 1.14 |
The equity ratios are withheld because equity of €66 is too small for a meaningful ratio.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Social balance sheet
| Item | 31-12-2025 |
|---|---|
| in full-time equivalents | 1.1 |
| 0.5 | |
| Joined | 6 |
| Left | 3 |
Source: social balance sheet in the 2025 annual accounts
Investments
fixed assets acquired| Item | 2025 |
|---|---|
| Tangible fixed assets | €14,336 |
| Intangible fixed assets | €1,018 |
| €4,566 |
Source: notes to the 2025 annual accounts (statement of fixed assets)
Insights on APFL
Debt's share of the balance-sheet total is 99.9%.
Board & ownership
Board
1 director, since incorporationDirector (not named in the articles)
since 01-07-2024
term without a fixed end
listed in the 2025 annual accounts, filed on 19-06-2026
Mandates through the years
1 name, the dashed line is todayLECOT Françoise Anne Albertine
Director (not named in the articles)
Director (not named in the articles)
Board
Mandates as a list
- LECOT Françoise Anne Albertine
- Director (not named in the articles), from 01-07-2024 to date
Control
Capital
- Contribution
- €3,500
- Shares
- 100
- Contribution per share
- €35
- Equity per share
- €0.66 in 2025
- Source
- deed of 03-07-2024
Articles of association
deed of 03-07-2024 (in French)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Board ruleThese rules set how the board is made up, meets and takes decisions.
- At least 1 director
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Third Tuesday of May
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Shareholders
At incorporation
deed of 03-07-2024 ↗
- LECOT Françoise Anne Albertine 100 shares (100%) · €3,500
Capital transactions
Capital over time
- 03-07-2024 Incorporation · €3,500
- 03-07-2024 Incorporation · €3,500 · 100 shares
Network & group
No group
APFL has no parent and no holdings in its annual accounts. LECOT Françoise Anne Albertine is the only director. APFL shares no director with another company.
At the same address
Rue de Hamme-Mille 36, 1390 Grez-Doiceau · 1 other company| Hertmans, Patricia (sole trader)
establishment since 05-10-1992 |
founded in 1988 0758.171.103 |
Timeline
Timeline
4 events since 2024Filings
Establishments
202420252026
2026
Annual accounts 2025 filed NBBmicro format · 42 days before the deadline
Registered in the Peppol Directory Reachable for e-invoices through 0208:1010972602
2024
IncorporationFounding capital of €3,500, 100 shares · Founder: LECOT Françoise Anne Albertine · Appointment: LECOT Françoise Anne Albertine (director) · published on 03-07-20245 points ▸
- Director appointment, LECOT Françoise Anne Albertine (director (not named in the articles))
- Permanent representative, LECOT Françoise Anne Albertine
- Founding capital, €3,500
- Founder, LECOT Françoise Anne Albertine
- Founding capital, €3,500, 100 shares
- The deed holds 10 more points.
First establishment Steenweg op Waver 717, Etterbeek
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
Company details
Identity
- Enterprise number
- 1010.972.602
- VAT number
- BE 1010.972.602
- Peppol ID
- 0208:1010972602
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 01-07-2024
- Financial year
- ends on 31 December
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Third Tuesday of Maydeed of 03-07-2024 (in French)
- Peppol
- Reachable since 01-01-2026Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- APFL in French
- Trade name
- L'ATELIER PHOTO by Françoise in French
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 03-07-2024 (in French)
- Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
- “Région Wallonne”deed of 03-07-2024 (in French)
Activities
NACEBEL 2025VAT activities
58190
Other publishing activities, excluding software publishing main activity
Social security (RSZ) activities
74201
Photography, excluding press photography main activity
Joint committees annual accounts 2025
JC 201
Independent retail
JC 100
Auxiliary committee for blue-collar workers
Codes under NACEBEL 2008
58190
Publishing activities main activity
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “Toutes opérations se rattachant directement ou indirectement à : la photographie,cinéma,audiovisuel,enregistrement…”deed of 03-07-2024 (in French)
7 activities
- Toutes opérations se rattachant directement ou indirectement à : la photographie,cinéma,audiovisuel,enregistrement son,image,lumière,librairie,papeterie,la vente,l'achat,la location,l'échange,l'importation,l'exportation en gros et au détail de tous appareils,accessoires,produits,albums et films et leurs applications les plus diverses.
- L'exécution de tous travaux intérieurs ou extérieurs,privés ou publics,artistiques ou industriels,la prise de vues,de reportages vidéo et cinématographiques en studio et en extérieur pour l’industrie,la mode la publicité et les particuliers,ainsi que l’organisation de foires,expositions,et de toutes manifestations ou la présence de l’audiovisuel est nécessaire.
- L'exécution de tous travaux intérieurs ou extérieurs,privés ou publics,artistiques ou industriels,ainsi que la décoration de locaux au sens le plus large.
- L’exploitation d’un laboratoire photographique,
- La restauration de tableaux et d’autres objets d’art,la fabrication de cadres et de moulures,la dorure,le commerce de détail en tableaux et gravures,tout ceci dans le sens le plus large ainsi que toutes autres activités compatibles avec celles-ci,la présente énumération n’étant pas limitative mais exemplative.
- Les travaux d’imprimerie sur tous produits textiles et de l’habillement en général (vêtements personnalisés,..) et confiserie en tout genre (chocolats personnalisés, ..) ,et tous produits et services annexes et dérivés.
- Le commerce en général,de gros,demi-gros et de détail,et notamment l'importation,l'exportation,le négoce,la concession,la distribution de tous produits textiles et de l’habillement en général,et petite alimentation.
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Rue de Hamme-Mille 36 registered office 1390 Grez-Doiceau | ||
| Steenweg op Waver 717 1040 Etterbeek | 01-07-2024 | 2.361.055.521 |
Buildings and parcels at the addresses
- Ground area
- 449 m²
- Buildings
- 196 m²
- Volume, LiDAR
- 2,118 m³
- Tallest building
- 17.6 m
Buildings to scale, each on its own parcel
Parcels
Wallonia
1
(50%)
Brussels
1
(50%)
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 25070C0206/00P000 | Wallonia | 321 m² | 1 · 68 m² | 9.8 m · 3 |
| 21363B0373/00M005 | Brussels | 128 m² | 1 · 129 m² | 17.6 m · 5 |
Contact
E-mail
admin@latelierphoto.be