Apice
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 09-07-2026 at the NBB all 5 filings
Every figure per financial year
The operating result for 2025 is 18% lower than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €1,136 | €27,993 | - | €6,669 | €2,769 |
| Financial fixed assets | - | - | - | €500 | - |
| Depreciation and write-downs of the year | €25 | €4,667 | €5,977 | €7,562 | €8,360 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €25 | €4,667 | €5,977 | €7,562 | €8,360 | ▲ 10.6% |
| Other operating charges640/8 | - | €191 | - | €387 | €0 | ▼ 100% |
| Gross operating margin9900 | €7,828 | €98,044 | €92,069 | €154,881 | €128,873 | ▼ 16.8% |
| Operating profit (loss)9901 | €7,803 | €93,186 | €86,092 | €146,931 | €120,513 | ▼ 18.0% |
| Financial income75/76B | - | - | €697 | €2,130 | €303 | ▼ 85.8% |
| Recurring financial income75 | - | - | €697 | €2,130 | €303 | ▼ 85.8% |
| Financial charges65/66B | - | €2 | €143 | €135 | €152 | ▲ 12.4% |
| Recurring financial charges65 | - | €2 | €143 | €135 | €152 | ▲ 12.4% |
| Profit (loss) for the period before taxes9903 | €7,803 | €93,184 | €86,646 | €148,926 | €120,664 | ▼ 19.0% |
| Income taxes67/77 | €1,561 | €19,233 | €17,869 | €32,849 | €25,821 | ▼ 21.4% |
| Profit (loss) for the period9904 | €6,243 | €73,951 | €68,777 | €116,077 | €94,844 | ▼ 18.3% |
| Profit (loss) for the period to be appropriated9905 | €6,243 | €73,951 | €68,777 | €116,077 | €94,844 | ▼ 18.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €13,617 | €95,445 | €161,075 | €120,668 | €99,272 | ▼ 17.7% |
| Fixed assets21/28 | €1,111 | €24,438 | €18,461 | €18,067 | €12,476 | ▼ 30.9% |
| Tangible fixed assets22/27 | €1,111 | €24,438 | €18,461 | €17,567 | €11,976 | ▼ 31.8% |
| Plant, machinery and equipment23 | €1,111 | €4,266 | €3,174 | €2,108 | €3,625 | ▲ 72.0% |
| Furniture and vehicles24 | - | €20,172 | €15,286 | €15,460 | €8,351 | ▼ 46.0% |
| Financial fixed assets28 | - | - | - | €500 | €500 | = |
| Current assets29/58 | €12,506 | €71,007 | €142,614 | €102,601 | €86,796 | ▼ 15.4% |
| Amounts receivable within one year40/41 | €10,773 | €8,442 | €65,476 | €11,963 | €77,757 | ▲ 550% |
| Trade receivables40 | €10,500 | €8,442 | - | - | €55,055 | - |
| Other amounts receivable41 | €273 | - | €65,476 | €11,963 | €22,702 | ▲ 89.8% |
| Cash at bank and in hand54/58 | €1,732 | €62,009 | €76,289 | €90,098 | €8,492 | ▼ 90.6% |
| Deferred charges and accrued income490/1 | - | €557 | €849 | €540 | €547 | ▲ 1.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €13,617 | €95,445 | €161,075 | €120,668 | €99,272 | ▼ 17.7% |
| Equity10/15 | €9,243 | €83,194 | €151,971 | €119,077 | €12,844 | ▼ 89.2% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | €3,000 | €3,000 | = |
| Profit (loss) carried forward14 | €6,243 | €80,194 | €148,971 | €116,077 | €9,844 | ▼ 91.5% |
| Amounts payable17/49 | €4,374 | €12,252 | €9,104 | €1,591 | €86,428 | ▲ 54× |
| Amounts payable within one year42/48 | €4,374 | €12,252 | €9,104 | €1,583 | €86,428 | ▲ 55× |
| Trade debts44 | €921 | €654 | €777 | €357 | €1,428 | ▲ 300% |
| Suppliers440/4 | €921 | €654 | €777 | €357 | €1,428 | ▲ 300% |
| Taxes, remuneration and social security45 | €1,561 | €6,655 | €8,327 | €1,225 | €0 | ▼ 100% |
| Taxes450/3 | €1,561 | €6,655 | €8,327 | €1,225 | €0 | ▼ 100% |
| Other amounts payable47/48 | €1,892 | €4,943 | - | - | €85,000 | - |
| Accrued charges and deferred income492/3 | - | - | - | €8 | €0 | ▼ 100% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €6,243 | €73,951 | €68,777 | €116,077 | €94,844 | ▼ 18.3% |
| + Depreciation and write-downs630 | €25 | €4,667 | €5,977 | €7,562 | €8,360 | ▲ 10.6% |
| Operating cash flow (approximation) | €6,268 | €78,618 | €74,754 | €123,639 | €103,204 | ▼ 16.5% |
| Investment in fixed assets (approximation) | - | -€27,993 | €0 | -€7,169 | -€2,769 | ▲ 61.4% |
| Change in cash | - | €60,276 | €14,280 | €13,809 | -€81,606 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 7,976 companies had the same profile as Apice has now. Two years later, 94.3% were still going and 3.6% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
Another 0.3% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Apice itself: 2.4% within 12 months.
Test of the method
The method was tested on the 497,446 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 7,976 companies, not a prediction for Apice. 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.
Filings with the National Bank (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 09-07-2026 | 2026-00271585 | |
| 31-12-2024 | micro format | 10-07-2025 | 2025-00252685 | |
| 31-12-2023 | micro format | 04-07-2024 | 2024-00206884 | |
| 31-12-2022 | micro format | 26-07-2023 | 2023-00270094 | |
| 31-12-2021 | micro format | 08-07-2022 | 2022-20161724 |