APG CONSTRUCT
ActiveSummary
APG CONSTRUCT has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (-€30,092) and a net result of -€364,715. Equity is growing by ~44% per year across the filed fiscal years. Its solvency ranks better than 9% of 9722 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2024
Axes · tick = 2023
Profitability0▼-60
Solvency15▼-35
Growth32▼-46
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.82 against 1.3 in 2023; short-term debt: 110.2% and cash: 2.8% of total assets), and equity is negative.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
-10.2%
Return on assets
-123.7%
Age of the figures
21 mo
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 68
Relative position
BE, all sectors
reference
Real estate activities (NACE 68)
about 43% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
18192021222324
2018 to 2024 · latest year -€30,092
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 31-07-2025, 0 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
not confirmed
2024
on the day
2023
27 d early
2022
17 d early
2021
41 d early
2020
44 d early
2019
53 d early
← 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 30 days before the deadline; the sector median for financial year 2024 is 7 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (1)
History
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Financials · fiscal year 2024, abbreviated schema
Equity
-€30,092
2023 · €334,623
Total assets
€294,927▼ 77.7%
2023 · €1.3m
Net result
-€364,715
2023 · €79,291
Working capital
-€59,164
2023 · €295,036
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€20,687▲ 12.9%€159,716▲ 672%€135,810▼ 15.0%€144,827▲ 6.6%-€340,657
Net result-€3,098▼ 64.9%€96,775€70,963▼ 26.7%€79,291▲ 11.7%-€364,715
Equity€87,594▼ 3.4%€184,369▲ 110%€255,332▲ 38.5%€334,623▲ 31.1%-€30,092
Total assets€733,869▼ 23.7%€1.2m▲ 61.2%€1.3m▲ 12.2%€1.3m▼ 0.4%€294,927▼ 77.7%
Debt€646,275▼ 25.8%€998,321▲ 54.5%€1.1m▲ 7.3%€987,390▼ 7.8%€325,020▼ 67.1%
Working capital€87,594▼ 3.4%€184,369▲ 110%€205,174▲ 11.3%€295,036▲ 43.8%-€59,164
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2024: a loss of €340,657 after €144,827 in 2023, the lowest result in the available series.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €294,927
Fixed assets
€29,072 ▼ 26.6%
Current assets
€265,856 ▼ 79.3%
Key figures and ratios
EBITDA
-€330,141▼
2023 · €155,397
Cash flow
-€354,199▼
2023 · €89,862
Solvency
-10.2%▼
2023 · 25.3%
Current ratio
0.82▼
2023 · 1.30
Quick ratio
0.36▲
2023 · 0.19
Debt to equity
-10.80▼
2023 · 2.95
ROA
-123.7%▼
2023 · 6.0%
Interest coverage
-13.28▼
2023 · 4.05
Debt ≤ 1 year
€325,020▼
2023 · €987,390
Income taxes
-€804▼
2023 · €27,582
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €2,693 | €10,570 | €10,516 | ▼ 0.5% |
| Other operating charges640/8 | - | €1,042 | €596 | €1,309 | €1,492 | ▲ 14.1% |
| Gross operating margin9900 | €21,728 | €160,758 | €139,099 | €156,706 | -€328,648 | ▼ 310% |
| Operating profit (loss)9901 | €20,687 | €159,716 | €135,810 | €144,827 | -€340,657 | ▼ 335% |
| Financial income75/76B | - | €736 | €366 | €380 | - | - |
| Recurring financial income75 | €548 | €736 | €366 | €380 | - | - |
| Financial charges65/66B | - | €31,678 | €38,712 | €38,333 | €24,863 | ▼ 35.1% |
| Recurring financial charges65 | €24,333 | €31,678 | €38,712 | €38,333 | €24,863 | ▼ 35.1% |
| Profit (loss) for the period before taxes9903 | -€3,098 | €128,775 | €97,463 | €106,874 | -€365,520 | ▼ 442% |
| Income taxes67/77 | - | €32,000 | €26,500 | €27,582 | -€804 | ▼ 103% |
| Profit (loss) for the period9904 | -€3,098 | €96,775 | €70,963 | €79,291 | -€364,715 | ▼ 560% |
| Profit (loss) for the period to be appropriated9905 | -€3,098 | €96,775 | €70,963 | €79,291 | -€364,715 | ▼ 560% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €733,869 | €1.2m | €1.3m | €1.3m | €294,927 | ▼ 77.7% |
| Fixed assets21/28 | - | - | €50,158 | €39,588 | €29,072 | ▼ 26.6% |
| Tangible fixed assets22/27 | - | - | €50,158 | €39,588 | €29,072 | ▼ 26.6% |
| Furniture and vehicles24 | - | - | €50,158 | €39,588 | €29,072 | ▼ 26.6% |
| Current assets29/58 | €733,869 | €1.2m | €1.3m | €1.3m | €265,856 | ▼ 79.3% |
| Stocks and contracts in progress3 | €586,290 | €513,923 | €874,991 | €1.1m | €149,341 | ▼ 86.4% |
| Stocks30/36 | - | - | - | €713,300 | €149,341 | ▼ 79.1% |
| Contracts in progress37 | - | €513,923 | €874,991 | €381,020 | - | - |
| Amounts receivable within one year40/41 | €139,449 | €661,804 | €248,386 | €184,480 | €108,271 | ▼ 41.3% |
| Trade receivables40 | - | €592,585 | €146,151 | €99,837 | €101,779 | ▲ 1.9% |
| Other amounts receivable41 | - | €69,218 | €102,234 | €84,643 | €6,491 | ▼ 92.3% |
| Cash at bank and in hand54/58 | €8,130 | €6,963 | €153,172 | €3,625 | €8,244 | ▲ 127% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €733,869 | €1.2m | €1.3m | €1.3m | €294,927 | ▼ 77.7% |
| Equity10/15 | €87,594 | €184,369 | €255,332 | €334,623 | -€30,092 | ▼ 109% |
| Contributions10/11 | - | €100,000 | €100,000 | €100,000 | €100,000 | = |
| Profit (loss) carried forward14 | -€12,406 | €84,369 | €155,332 | €234,623 | -€130,092 | ▼ 155% |
| Amounts payable17/49 | €646,275 | €998,321 | €1.1m | €987,390 | €325,020 | ▼ 67.1% |
| Amounts payable within one year42/48 | €646,275 | €998,321 | €1.1m | €987,390 | €325,020 | ▼ 67.1% |
| Trade debts44 | - | - | €7,926 | €10,304 | €7,630 | ▼ 25.9% |
| Suppliers440/4 | - | - | €7,926 | €10,304 | €7,630 | ▼ 25.9% |
| Taxes, remuneration and social security45 | - | €32,000 | €58,500 | €29,500 | - | - |
| Taxes450/3 | - | €32,000 | €58,500 | €29,500 | - | - |
| Other amounts payable47/48 | - | €966,321 | €1.0m | €947,586 | €317,389 | ▼ 66.5% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3,098 | €96,775 | €70,963 | €79,291 | -€364,715 | ▼ 560% |
| + Depreciation and write-downs630 | - | - | €2,693 | €10,570 | €10,516 | ▼ 0.5% |
| Operating cash flow (approximation) | -€3,098 | €96,775 | €73,656 | €89,862 | -€354,199 | ▼ 494% |
| Investment in fixed assets (approximation) | - | - | - | €0 | €0 | - |
| Change in cash | - | -€1,167 | €146,209 | -€149,547 | €4,619 | ▲ 103% |
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
31-07
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet -€364,715
Net result drops to -€364,715, the lowest in the series.
04-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
14-07
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial
Equity above €200,000Eq €255,332 ▲38.5%
2 profitable years in a row build equity to €255,332.
20-06
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Back to profitnet €96,775
Net result €96,775 after 3 loss-making years.
31-12
Financial
Equity above €150,000Eq €184,369 ▲110%
Equity rises from €87,594 to €184,369.
17-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
08-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
06-06
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is 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, Oud-Turnhout · 1 establishment unit since 2017
Ground area
1,719 m²
Building footprint
273 m²
Volume, LiDAR
1,661 m³
Parcel 13482F1177/00G014, Flanders · tallest building 10.7 m, ±2 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
APG CONSTRUCT
since 20172.263.796.490
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13482F1177/00G014 | Flanders | 1,719 m² | 1 · 273 m² | 10.7 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 7,326 companies in sector 68110 we hold annual accounts for 5,384. 3,830 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
Founded21-04-2017
Fiscal year end31-12
Activities, NACEBEL 2025
68110Buying and selling of own real estate
68121Development of residential building projects
68122Development of non-residential building projects
68203Renting and operating of own or leased non-residential real estate, excluding land
82990Other business support services
Scores and ratios are computed by Checked and are not a credit decision.