Equity
API CODE paid out €26,667 in dividends in a year with a loss of €27,017.
The dashed line is the sector median: 0.1% across 2,947 companies (NACE 63, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
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 63, micro). It does better than 86% of them on solvency, 96% on liquidity, 7% on profitability and 20% on growth.
The bankruptcy probability was computed on 10-11-2026 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 30-09-2025.
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).
In July 2024, 4,805 companies had the same profile as API CODE has now. Each dot stands for 13 companies, two years later.
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of API CODE itself is lower: 0.1% within 12 months. It rests on far more data about API CODE than the profile alone.
The method was tested on the 497,448 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 4,805 companies, not a prediction for API CODE. 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.
Liquidity is ample, with a current ratio of 24.5 (10.4 in 2024), above the usual 1.5. Short-term debt is 3.2% and cash 47.6% of total assets. 3.2% of the assets are financed with debt and provisions.
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.
The company filed its last 7 accounts on average 4 days before the deadline. In the sector (NACE 63), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| API CODE Braives | €135,345 | -€22,847 | 96.8% | - |
| TECHNIC-L Lede | €141,504 | -€43,050 | 40.1% | - |
| Project 404 Lier | €133,811 | -€56,252 | 29.7% | - |
| H.A.R.T. Zedelgem | €165,482 | -€4,655 | 10.1% | - |
| INSURALIS Nivelles | €193,789 | -€1,250 | 88.4% | - |
| ALLGO Juprelle | €194,381 | €1,067 | 10.9% | - |
| PhD INFORMATIQUE Fexhe-le-Haut-Clocher | €116,750 | -€3,931 | 65.7% | - |
These companies have the same main activity as API CODE: computing infrastructure, data processing, hosting and related activities (NACE 63100). They are comparable in size and age: total assets between €117,000 and €194,000, founded between 2005 and 2015.
API CODE files the micro format. That format states no turnover. The gross margin fell from €41,408 in 2014 to -€22,847 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Higher than 95% of 2,302 companies in 2025.
Higher than 95% of 2,199 companies in 2025.
Higher than 9% of 2,233 companies in 2025.
Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||
20/58 |
135,345 | 199,466 | 177,851 | 196,126 | 153,070 | 173,936 | 122,625 | 107,852 | 74,309 | 72,736 | 59,475 | 92,074 | |
21/28 |
29,115 | 45,749 | 62,951 | 66,494 | 70,459 | 63,147 | 46,589 | 44,282 | 5,240 | 10,847 | 17,774 | 23,666 | |
22/27 |
4,153 | 7,668 | 13,579 | 11,520 | 15,486 | 8,894 | 10,984 | 9,312 | 5,240 | 10,847 | 17,774 | 23,666 | |
22 |
0 | 0 | 310 | 1,619 | 5,257 | 8,894 | 10,984 | 9,312 | - | - | - | - | |
23 |
4,153 | 5,759 | 7,365 | - | - | - | - | 0 | - | - | - | - | |
24 |
0 | 1,909 | 5,905 | 9,901 | 10,229 | 0 | 0 | 0 | 5,240 | 10,847 | 17,774 | 23,666 | |
28 |
24,962 | 38,081 | 49,372 | 54,974 | 54,974 | 54,252 | 35,605 | 34,970 | - | - | - | - | |
29/58 |
106,230 | 153,717 | 114,900 | 129,632 | 82,611 | 110,789 | 76,035 | 63,570 | 69,068 | 61,889 | 41,701 | 68,408 | |
40/41 |
1,410 | 24,020 | 29,101 | 43,953 | 9,164 | 13,371 | 46,015 | 27,382 | 34,904 | 30,792 | 16,175 | 24,729 | |
40 |
0 | 23,988 | 29,101 | 43,953 | 0 | 13,371 | 43,370 | 25,667 | 7,796 | 11,146 | 14,648 | 23,672 | |
41 |
1,410 | 31 | 0 | 0 | 9,164 | 0 | 2,645 | 1,715 | 27,108 | 19,645 | 1,527 | 1,057 | |
50/53 |
30,404 | 30,404 | 30,404 | 30,404 | 27,904 | - | - | - | - | - | - | - | |
54/58 |
64,467 | 98,787 | 54,817 | 55,275 | 44,247 | 97,419 | 28,181 | 35,781 | 33,794 | 28,593 | 24,139 | 41,562 | |
490/1 |
9,949 | 506 | 578 | 0 | 1,296 | 0 | 1,839 | 407 | 370 | 2,504 | 1,387 | 2,117 | |
| Balance sheet: equity and liabilities | |||||||||||||
10/49 |
135,345 | 199,466 | 177,851 | 196,126 | 153,070 | 173,936 | 122,625 | 107,852 | 74,309 | 72,736 | 59,475 | 92,074 | |
10/15 |
130,998 | 184,681 | 156,531 | 150,712 | 148,006 | 142,448 | 97,154 | 70,487 | 48,707 | 44,390 | 31,342 | 29,473 | |
10/11 |
8,060 | 8,060 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
13 |
123,791 | 150,458 | 150,321 | 144,502 | 141,797 | 136,238 | 90,944 | 64,277 | 42,497 | 14,908 | 1,860 | 1,860 | |
130/1 |
- | 0 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
- | 0 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | |
133 |
123,791 | 150,458 | 148,461 | 142,642 | 139,937 | 134,378 | 89,084 | 62,417 | 40,637 | 13,048 | - | - | |
14 |
-853 | 26,164 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 23,282 | 23,282 | 21,413 | |
17/49 |
4,347 | 14,785 | 21,320 | 45,414 | 5,064 | 31,488 | 25,471 | 37,365 | 25,602 | 28,346 | 28,132 | 62,602 | |
17 |
- | - | - | - | - | - | - | 0 | 5,940 | 11,880 | 17,820 | 23,749 | |
170/4 |
- | - | - | - | - | - | - | 0 | 5,940 | 11,880 | 17,820 | 23,749 | |
42/48 |
4,336 | 14,785 | 21,320 | 45,414 | 5,064 | 31,140 | 25,471 | 37,365 | 19,662 | 16,466 | 10,312 | 38,852 | |
42 |
- | - | - | 0 | 3,333 | 5,833 | 5,833 | 5,940 | 5,940 | 5,940 | 5,940 | 5,937 | |
44 |
2,548 | 1,257 | 6,420 | 5,407 | 1,696 | 9,378 | 16,757 | 19,719 | 10,040 | 3,367 | 1,900 | 1,270 | |
440/4 |
2,548 | 1,257 | 6,420 | 5,407 | 1,696 | 9,378 | 16,757 | 19,719 | 10,040 | 3,367 | 1,900 | 1,270 | |
46 |
- | - | 0 | 32,247 | - | - | - | - | - | - | - | - | |
45 |
1,500 | 13,528 | 14,900 | 7,760 | 35 | 15,698 | 2,881 | 11,705 | 3,681 | 7,159 | 2,472 | 13,889 | |
450/3 |
1,500 | 13,528 | 14,900 | 7,760 | 35 | 15,698 | 2,881 | 11,705 | 3,681 | 7,159 | 2,472 | 13,889 | |
47/48 |
288 | 0 | 0 | 0 | 0 | 231 | 0 | 0 | 0 | 0 | 0 | 17,756 | |
492/3 |
12 | - | - | - | 0 | 348 | - | - | - | 0 | - | - | |
| Income statement | |||||||||||||
70 |
0 | - | 148,060 | - | - | - | - | 120,479 | - | - | - | - | |
9900 |
-22,847 | 71,965 | 73,253 | 11,321 | 9,262 | 60,601 | 41,118 | 41,008 | 15,272 | 27,754 | 13,475 | 41,408 | |
60/61 |
0 | - | 80,237 | - | - | - | 86,519 | 79,470 | - | - | - | - | |
630 |
3,514 | 5,912 | 5,970 | 7,186 | 5,099 | 3,638 | 3,328 | 7,568 | 5,607 | 6,927 | 7,965 | 8,103 | |
640/8 |
739 | 724 | 3,337 | 644 | 292 | 638 | 1,099 | 628 | 623 | 963 | 763 | 0 | |
9901 |
-27,100 | 65,329 | 63,945 | 3,490 | 3,870 | 56,325 | 36,691 | 32,812 | 9,042 | 19,864 | 4,748 | 33,305 | |
75/76B |
454 | 629 | 757 | 731 | 2,972 | 5,647 | 592 | 731 | 1,738 | 761 | 51 | 4 | |
75 |
454 | 629 | 757 | 731 | 2,972 | 5,647 | 592 | 731 | 1,738 | 761 | 51 | 4 | |
65/66B |
239 | 284 | 340 | 236 | 261 | 267 | 310 | 317 | 481 | 660 | 1,168 | 175 | |
65 |
239 | 284 | 340 | 236 | 261 | 267 | 310 | 317 | 481 | 660 | 1,168 | 175 | |
9903 |
-26,885 | 65,674 | 64,362 | 3,986 | 6,581 | 61,705 | 36,973 | 33,226 | 10,299 | 19,964 | 3,630 | 33,135 | |
67/77 |
132 | 15,743 | 17,906 | 1,280 | 1,023 | 16,411 | 10,307 | 11,446 | 5,983 | 6,917 | 1,760 | 9,862 | |
9904 |
-27,017 | 49,931 | 46,456 | 2,706 | 5,558 | 45,294 | 26,667 | 21,780 | 4,317 | 13,048 | 1,870 | 23,273 | |
9905 |
-27,017 | 49,931 | 46,456 | 2,706 | 5,558 | 45,294 | 26,667 | 21,780 | 4,317 | 13,048 | 1,870 | 23,273 | |
| Appropriation of the result | |||||||||||||
9906 |
-853 | 49,940 | 46,466 | 2,716 | 5,568 | 45,304 | 26,676 | 21,790 | 27,599 | 36,330 | 23,282 | 23,273 | |
14P |
26,164 | 10 | 10 | 10 | 10 | - | - | - | - | - | - | - | |
791/2 |
26,667 | 23,640 | - | - | - | - | - | - | - | - | - | - | |
691/2 |
- | 25,636 | 46,456 | 2,706 | 5,558 | 45,294 | 26,667 | 21,780 | 27,589 | 13,048 | - | 1,860 | |
691 |
- | 1,860 | - | - | - | - | - | - | - | - | - | - | |
6920 |
- | 23,776 | - | - | - | - | - | - | - | - | - | 1,860 | |
6921 |
- | - | 46,456 | 2,706 | 5,558 | 45,294 | 26,667 | 21,780 | 27,589 | 13,048 | - | - | |
694/7 |
26,667 | 21,780 | - | - | - | - | - | - | - | - | - | - | |
694 |
26,667 | 21,780 | - | - | - | - | - | - | - | - | - | - | |
| 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 filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 27-04-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | micro format | 27-04-2026 | 2026-00094208 | |
| 30-09-2024 | micro format | 28-04-2025 | 2025-00084647 | |
| 30-09-2023 | micro format | 26-04-2024 | 2024-00076919 | |
| 30-09-2022 | micro format | 02-05-2023 | 2023-00081224 | |
| 30-09-2021 | micro format | 28-04-2022 | 2022-20014400 | |
| 30-09-2020 | micro format | 28-04-2021 | 2021-12600524 | |
| 30-09-2019 | micro format | 16-04-2020 | 2020-09300268 | |
| 30-09-2018 | micro format | 21-03-2019 | 2019-07600012 | |
| 30-09-2017 | micro format | 02-05-2018 | 2018-12100245 | |
| 30-09-2016 | full format | 28-04-2017 | 2017-10600584 | |
| 30-09-2015 | full format | 29-03-2016 | 2016-08100419 | |
| 30-09-2014 | full format | 24-03-2015 | 2015-07100300 |
| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -23,586 | 71,240 | 69,915 | 10,677 | 8,969 | 59,963 | 40,019 | 40,380 | 14,649 | 26,791 | 12,712 | 41,408 | ||
| -23,503 | 55,842 | 52,426 | 9,892 | 10,657 | 48,932 | 29,995 | 29,348 | 9,923 | 19,975 | 9,835 | 31,376 | ||
| 0 | -11,291 | 8,029 | 3,221 | 12,412 | 20,195 | 5,636 | 46,610 | 0 | 0 | 2,073 | 31,769 | ||
| -34,321 | 43,970 | -457 | 11,028 | -53,172 | 69,238 | -7,600 | 1,987 | 5,201 | 4,454 | -17,423 | - | ||
| 101,894 | 138,933 | 93,580 | 84,218 | 77,547 | 79,649 | 50,564 | 26,205 | 49,407 | 45,423 | 31,389 | 29,556 | ||
| - | - | 43.2% | - | - | - | - | 27.2% | - | - | - | - | ||
| 96.8% | 92.6% | 88.0% | 76.8% | 96.7% | 81.9% | 79.2% | 65.4% | 65.5% | 61.0% | 52.7% | 32.0% | ||
| 24.50 | 10.40 | 5.39 | 2.85 | 16.31 | 3.56 | 2.99 | 1.70 | 3.51 | 3.76 | 4.04 | 1.76 | ||
| 0.03 | 0.08 | 0.14 | 0.30 | 0.03 | 0.22 | 0.26 | 0.53 | 0.53 | 0.64 | 0.90 | 2.12 | ||
| -20.6% | 27.0% | 29.7% | 1.8% | 3.8% | 31.8% | 27.4% | 30.9% | 8.9% | 29.4% | 6.0% | 79.0% | ||
| -20.0% | 25.0% | 26.1% | 1.4% | 3.6% | 26.0% | 21.7% | 20.2% | 5.8% | 17.9% | 3.1% | 25.3% | ||
| -98.88 | over 100 | over 100 | 45.28 | 34.40 | - | - | - | - | - | - | - | ||
| - | - | 72 days | - | - | - | - | 78 days | - | - | - | - | ||
| - | - | 29 days | - | - | - | 71 days | 91 days | - | - | - | - |
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.
| Item | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 | 30-09-2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | €0 | - | €8,029 | €3,221 | €11,690 |
| Financial fixed assets | - | - | - | - | €722 |
| €3,514 | €5,912 | €5,970 | €7,186 | €5,099 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
The operating result for 2025 is a loss of €27,100, after a profit of €65,329 in 2024. It is the lowest result since 2014.
Debt's share of the balance-sheet total falls from 7.4% to 3.2%. Equity and debt are lower.
API CODE has no parent and no holdings in its annual accounts. ZIAT Samy Samuel is the only director. API CODE shares no director with another company.
| Lejeune, Audrey (sole trader)
establishment since 01-10-2002 |
founded in 2002 0649.770.336 |
Deadline for the 2026 accounts: 30-04-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Rue Saint-Rock 4 registered office 4260 Braives | 08-10-2013 | 2.223.033.231 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 64024B0114/00K000 | 450 m² | 1 · 67 m² | 8.3 m · 2 |
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