APHI
ActiveSummary
APHI has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €2.64M and a net result of €99k. Equity is growing by ~3.9% per year across the filed fiscal years. The computed 12-month bankruptcy probability is 0.9% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability43▲+7
Solvency86▲+3
Growth52=
Track record100
Bankruptcy probability, 12 months
0.9%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €170k at 30 days acceptable
Liquidity ample (current ratio 3.8 against 3.14 in 2024; short-term debt: 5.4% and cash: 0.6% of total assets), and 38.6% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
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
61.4%
Return on assets
2.3%
Age of the figures
9 mo
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 29-07-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
35 d early
2023
1 d late
2022
25 d late
2021
2 d early
2020
31 d early
2019
28 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 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€2.64M▲ 3.9%
2024 · €2.55M
2019: €2.05Mlowest in 7 years
2020: €2.24M▲ +9.4% vs 2019
2021: €2.49M▲ +11.2% vs 2020
2022: €2.60M▲ +4.4% vs 2021
2023: €2.57M▼ -1.1% vs 2022
2024: €2.55M▼ -1.1% vs 2023
2025: €2.64M▲ +3.9% vs 2024highest in 7 years
2019 → 2025
Total assets
€4.31M▼ 1.6%
2024 · €4.38M
2019: €2.74Mlowest in 7 years
2020: €2.84M▲ +3.4% vs 2019
2021: €3.27M▲ +15.2% vs 2020
2022: €4.39M▲ +34.4% vs 2021highest in 7 years
2023: €4.28M▼ -2.6% vs 2022
2024: €4.38M▲ +2.3% vs 2023
2025: €4.31M▼ -1.6% vs 2024
2019 → 2025
Net result
€99k
2024 · €-28k
2019: €232k
2020: €192k▼ -17.1% vs 2019
2021: €251k▲ +30.8% vs 2020highest in 7 years
2022: €110k▼ -56.3% vs 2021
2023: €-28k▼ -125% vs 2022
2024: €-28k● -0.0% vs 2023lowest in 7 years
2025: €99k▲ +460% vs 2024
2019 → 2025
Working capital
€648k▲ 0.2%
2024 · €646k
2019: €-155klowest in 7 years
2020: €-63k▲ +59.5% vs 2019
2021: €-96k▼ -52.4% vs 2020
2022: €-40k▲ +58.6% vs 2021
2023: €762k▲ +2026% vs 2022highest in 7 years
2024: €646k▼ -15.2% vs 2023
2025: €648k▲ +0.2% vs 2024
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€2.49M-€2.60M▲ 4.4%€2.57M▼ 1.1%€2.55M▼ 1.1%€2.64M▲ 3.9%
2021: €2.49Mlowest in 5 years
2022: €2.60M▲ +4.4% vs 2021
2023: €2.57M▼ -1.1% vs 2022
2024: €2.55M▼ -1.1% vs 2023
2025: €2.64M▲ +3.9% vs 2024highest in 5 years
Operating result€-9k-€-5k▲ 50.1%€-8k▼ 61.9%€-3k▲ 59.1%€-3k▼ 8.7%
2021: €-9klowest in 5 years
2022: €-5k▲ +50.1% vs 2021
2023: €-8k▼ -61.9% vs 2022
2024: €-3k▲ +59.1% vs 2023highest in 5 years
2025: €-3k▼ -8.7% vs 2024
Net result€251k-€110k▼ 56.3%€-28k€-28k=€99k
2021: €251khighest in 5 years
2022: €110k▼ -56.3% vs 2021
2023: €-28k▼ -125% vs 2022
2024: €-28k● -0.0% vs 2023lowest in 5 years
2025: €99k▲ +460% vs 2024
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €3k in 2025 against €3k in 2024; the loss grows.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.31M
Fixed assets
€3.43M =
Current assets
€880k ▼ 7.3%
Equity and liabilities €4.31M
Equity
€2.64M ▲ 3.9%
Debt
€1.66M ▼ 9.2%
Debt's share of the balance-sheet total falls from 41.8% to 38.6%. Equity is higher and debt is lower.
Key figures and ratios
Current ratio
3.80▲
2024 · 3.14
Debt to equity
0.63▼
2024 · 0.72
ROE
3.8%▲
2024 · -1.1%
ROA
2.3%▲
2024 · -0.6%
Debt ≤ 1 year
€231k▼
2024 · €302k
Debt > 1 year
€1.43M▼
2024 · €1.53M
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 · 38 lines
Balance sheet
Code20242025
Assets
Total assets20/58€4.38M€4.31M▼
Fixed assets21/28€3.43M€3.43M=
Financial fixed assets28€3.43M€3.43M=
Current assets29/58€949k€880k▼
Amounts receivable after more than one year29€673k€679k▲
Other amounts receivable291€673k€679k▲
Amounts receivable within one year40/41€221k€176k▼
Trade receivables40€176k€176k=
Other amounts receivable41€45k-
Cash at bank and in hand54/58€55k€24k▼
Equity and liabilities
Total equity and liabilities10/49€4.38M€4.31M▼
Equity10/15€2.55M€2.64M▲
Contributions10/11€1.91M€1.91M=
Reserves13€640k€739k▲
Non-distributable reserves130/1€7k€7k=
Reserves not available under the articles1311€7k€7k=
Distributable reserves133€633k€732k▲
Amounts payable17/49€1.83M€1.66M▼
Amounts payable after more than one year17€1.53M€1.43M▼
Financial debts170/4€1.53M€1.43M▼
Amounts payable within one year42/48€302k€231k▼
Current portion of amounts payable after more than one year42€126k€55k▼
Trade debts44€176k€176k=
Suppliers440/4€176k€176k=
Income statement
Code20242025
Other operating charges640/8€178k€1k▼
Gross operating margin9900€174k€-2k▼
Operating profit (loss)9901€-3k€-3k▼
Financial income75/76B€12k€132k▲
Recurring financial income75€12k€132k▲
Financial charges65/66B€37k€29k▼
Recurring financial charges65€37k€29k▼
Profit (loss) for the period before taxes9903€-28k€99k▲
Profit (loss) for the period9904€-28k€99k▲
Profit (loss) for the period to be appropriated9905€-28k€99k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-28k€99k▲
Transfer from equity791/2€28k-
Transfer to equity691/2-€99k
To other reserves6921-€99k
The notes to these accounts (6 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Other operating charges640/8 | €1k | €1k | €1k | €178k | €1k | ▼ 99.3% |
| Gross operating margin9900 | €-8k | €-4k | €-6k | €174k | €-2k | ▼ 101% |
| Operating profit (loss)9901 | €-9k | €-5k | €-8k | €-3k | €-3k | ▼ 8.7% |
| Financial income75/76B | €265k | €139k | €16k | €12k | €132k | ▲ 955% |
| Recurring financial income75 | €265k | €139k | €16k | €12k | €132k | ▲ 955% |
| Financial charges65/66B | €4k | €24k | €35k | €37k | €29k | ▼ 21.2% |
| Recurring financial charges65 | €4k | €24k | €35k | €37k | €29k | ▼ 21.2% |
| Profit (loss) for the period before taxes9903 | €251k | €110k | €-28k | €-28k | €99k | ▲ 460% |
| Profit (loss) for the period9904 | €251k | €110k | €-28k | €-28k | €99k | ▲ 460% |
| Profit (loss) for the period to be appropriated9905 | €251k | €110k | €-28k | €-28k | €99k | ▲ 460% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €3.27M | €4.39M | €4.28M | €4.38M | €4.31M | ▼ 1.6% |
| Fixed assets21/28 | €3.26M | €4.31M | €3.43M | €3.43M | €3.43M | = |
| Financial fixed assets28 | €3.26M | €4.31M | €3.43M | €3.43M | €3.43M | = |
| Current assets29/58 | €4k | €76k | €849k | €949k | €880k | ▼ 7.3% |
| Amounts receivable after more than one year29 | - | - | €791k | €673k | €679k | ▲ 0.9% |
| Other amounts receivable291 | - | - | €791k | €673k | €679k | ▲ 0.9% |
| Amounts receivable within one year40/41 | €0 | €43k | €44k | €221k | €176k | ▼ 20.2% |
| Trade receivables40 | - | - | - | €176k | €176k | = |
| Other amounts receivable41 | €0 | €43k | €44k | €45k | - | - |
| Cash at bank and in hand54/58 | €4k | €33k | €14k | €55k | €24k | ▼ 55.9% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €3.27M | €4.39M | €4.28M | €4.38M | €4.31M | ▼ 1.6% |
| Equity10/15 | €2.49M | €2.60M | €2.57M | €2.55M | €2.64M | ▲ 3.9% |
| Contributions10/11 | €1.91M | €1.91M | €1.91M | €1.91M | €1.91M | = |
| Outside capital11 | - | - | €1.91M | - | - | - |
| Share premium1100/10 | - | - | €1.91M | - | - | - |
| Reserves13 | €585k | €695k | €668k | €640k | €739k | ▲ 15.5% |
| Non-distributable reserves130/1 | €7k | €7k | €7k | €7k | €7k | = |
| Reserves not available under the articles1311 | €7k | €7k | €7k | €7k | €7k | = |
| Distributable reserves133 | €578k | €688k | €661k | €633k | €732k | ▲ 15.7% |
| Amounts payable17/49 | €776k | €1.79M | €1.70M | €1.83M | €1.66M | ▼ 9.2% |
| Amounts payable after more than one year17 | €676k | €1.67M | €1.62M | €1.53M | €1.43M | ▼ 6.4% |
| Financial debts170/4 | €676k | €1.67M | €1.62M | €1.53M | €1.43M | ▼ 6.4% |
| Amounts payable within one year42/48 | €100k | €115k | €87k | €302k | €231k | ▼ 23.4% |
| Current portion of amounts payable after more than one year42 | €0 | €115k | €87k | €126k | €55k | ▼ 56.1% |
| Trade debts44 | - | - | - | €176k | €176k | = |
| Suppliers440/4 | - | - | - | €176k | €176k | = |
| Other amounts payable47/48 | €100k | €0 | - | - | - | - |
| Accrued charges and deferred income492/3 | - | €9k | - | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €251k | €110k | €-28k | €-28k | €99k | ▲ 460% |
| Operating cash flow (approximation) | €251k | €110k | €-28k | €-28k | €99k | ▲ 460% |
| Investment in fixed assets (approximation) | - | €-1.05M | €886k | €0 | €0 | - |
| Change in cash | - | €29k | €-19k | €41k | €-31k | ▼ 175% |
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
Next filing, fiscal year 2026, expected by
2026
29-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Back to profitnet €99k
Net result €99k after 2 loss-making years.
26-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Weakest financial yearnet €-28k
Net result drops to €-28k, the lowest in the series; recovery starts the following year.
01-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 1 day late
2023
31-12
Financial
Liquidity times 15current ratio 9.78
Current ratio from 0.66 to 9.78; short-term debt falls from €115k to €87k.
25-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 25 days late
2022
29-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial
Highest result since 2019net €251k ▲30.8%
Net result €251k, the highest in the series.
30-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
03-07
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2018
31-10
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2017
20-09
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2016
02-11
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 2 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
5 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, Balen · 1 establishment unit since 2015
Ground area
3,370 m²
Building footprint
281 m²
Volume, LiDAR
1,500 m³
Parcel 13342C0008/00D000, Flanders · tallest building 10.1 m, ±2 floors. Linked by address, not a title deed.
6
companies at this address
See who is registered here
1 establishment unit
APHI
since 20152.242.287.236
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13342C0008/00D000 | Flanders | 3,370 m² | 1 · 281 m² | 10.1 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.
Identification & contact
Identification
Legal formPrivate limited company
Founded13-05-2015
Fiscal year end31-12
Scores and ratios are computed by Checked and are not a credit decision.