APJ
ActiveSummary
The computed 12-month bankruptcy probability of APJ is 3.2% (moderate). The 2025 annual accounts show negative equity (-€18,556) and a net result of -€3,621. Equity is shrinking by ~21.4% per year across the filed fiscal years. Its solvency ranks better than 5% of 7564 sector peers (fiscal year 2025). The company has been active since 2019 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2025
Axes · tick = 2024
Profitability9▲+9
Solvency0=
Growth32=
Track record100
Bankruptcy probability, 12 months
3.2%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.57 against 0.06 in 2024; short-term debt: 159.9% and cash: 0.2% of total assets), and equity is negative.
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Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 41
Relative position
BE, all sectors
reference
Construction of residential and non-residential buildings (NACE 41)
about 67% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 2025Solvency, return and age of the figures
Solvency
-59.9%
Return on assets
-11.7%
Age of the figures
9 mo
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
19202122232425
2019 to 2025 · latest year -€18,556
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 31-07-2026, 0 days ahead of the deadline.
NBB · 7 filingsDeviation from the deadline
2025
on the day
2024
31 d early
2023
56 d late
2022
31 d late
2021
30 d late
2020
33 d late
2019
410 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 76 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
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
27-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
-€18,556▼ 24.2%
2024 · -€14,936
Total assets
€30,986▲ 483%
2024 · €5,312
Net result
-€3,621▲ 90.1%
2024 · -€36,603
Working capital
-€21,268▼ 11.5%
2024 · -€19,077
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€19,866€20,717▲ 4.3%€1,172▼ 94.3%-€36,408€1,236
Net result€16,524within the sector's middle half€18,428within the sector's middle half▲ 11.5%-€2,704below the sector's middle half-€36,603below the sector's middle half▼ 1,254%-€3,621below the sector's middle half▲ 90.1%
Equity€13,944within the sector's middle half€24,371within the sector's middle half▲ 74.8%€21,667within the sector's middle half▼ 11.1%-€14,936below the sector's middle half-€18,556below the sector's middle half▼ 24.2%
Total assets€20,572below the sector's middle half▲ 809%€42,092below the sector's middle half▲ 105%€45,922below the sector's middle half▲ 9.1%€5,312below the sector's middle half▼ 88.4%€30,986below the sector's middle half▲ 483%
Debt€6,629▲ 36.9%€17,721▲ 167%€24,255▲ 36.9%€20,247▼ 16.5%€49,542▲ 145%
Working capital€12,831€24,371▲ 89.9%€18,447▼ 24.3%-€19,077-€21,268▼ 11.5%
Solvency67.8%above the sector's middle half57.9%within the sector's middle half▼ 9.9pp47.2%within the sector's middle half▼ 10.7pp-281.2%below the sector's middle half▼ 328.4pp-59.9%below the sector's middle half▲ 221.3pp
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €1,236 after a loss of €36,408 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €30,986
Fixed assets
€2,711 ▼ 34.5%
Current assets
€28,274 ▲ 2,316%
Key figures and ratios
EBITDA
€2,665▲
2024 · -€35,288
Cash flow
-€2,191▲
2024 · -€35,484
Current ratio
0.57▲
2024 · 0.06
Debt to equity
-2.67▼
2024 · -1.36
ROA
-11.7%▲
2024 · -689.1%
Interest coverage
0.58▲
2024 · -468.32
Debt ≤ 1 year
€49,542▲
2024 · €20,247
Income taxes
€152▲
2024 · €120
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 6,035 companies that looked in July 2024 the way this one looks now, 7.2% went bankrupt within 24 months and 82% are still going.
- Micro
- 5 to 10 years old
- negative equity
- a loss of 10% of the balance sheet or more
7.2%
went bankrupt
8.2%
stopped otherwise
82%
still going
A further 2.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 3.2% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 6,035 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,150 | €1,112 | €228 | €1,119 | €1,430 | ▲ 27.7% |
| Other operating charges640/8 | €1,270 | €408 | €587 | €459 | €120 | ▼ 73.9% |
| Gross operating margin9900 | €22,285 | €22,237 | €1,987 | -€34,829 | €2,785 | ▲ 108% |
| Operating profit (loss)9901 | €19,866 | €20,717 | €1,172 | -€36,408 | €1,236 | ▲ 103% |
| Financial income75/76B | €426 | €1,662 | €1,378 | - | - | - |
| Recurring financial income75 | €426 | €1,662 | €1,378 | - | - | - |
| Financial charges65/66B | €57 | €54 | €85 | €75 | €4,705 | ▲ 6,144% |
| Recurring financial charges65 | €57 | €54 | €85 | €75 | €4,557 | ▲ 5,947% |
| Non-recurring financial charges66B | - | - | - | - | €148 | - |
| Profit (loss) for the period before taxes9903 | €20,234 | €22,324 | €2,464 | -€36,483 | -€3,469 | ▲ 90.5% |
| Income taxes67/77 | €3,710 | €3,897 | €5,168 | €120 | €152 | ▲ 26.3% |
| Profit (loss) for the period9904 | €16,524 | €18,428 | -€2,704 | -€36,603 | -€3,621 | ▲ 90.1% |
| Profit (loss) for the period to be appropriated9905 | €16,524 | €18,428 | -€2,704 | -€36,603 | -€3,621 | ▲ 90.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €20,572 | €42,092 | €45,922 | €5,312 | €30,986 | ▲ 483% |
| Fixed assets21/28 | €1,112 | - | €3,221 | €4,141 | €2,711 | ▼ 34.5% |
| Tangible fixed assets22/27 | €1,112 | - | €3,221 | €4,141 | €2,711 | ▼ 34.5% |
| Plant, machinery and equipment23 | - | - | €2,580 | €3,750 | €2,570 | ▼ 31.5% |
| Furniture and vehicles24 | €1,112 | - | €641 | €391 | €141 | ▼ 63.9% |
| Current assets29/58 | €19,460 | €42,092 | €42,701 | €1,170 | €28,274 | ▲ 2,316% |
| Amounts receivable within one year40/41 | €18,766 | €39,314 | €37,640 | €819 | €28,198 | ▲ 3,342% |
| Trade receivables40 | €4,602 | €4,852 | €8,633 | - | €17,510 | - |
| Other amounts receivable41 | €14,164 | €34,463 | €29,006 | €819 | €10,688 | ▲ 1,205% |
| Cash at bank and in hand54/58 | €208 | €1,466 | €4,234 | €203 | €76 | ▼ 62.6% |
| Deferred charges and accrued income490/1 | €486 | €1,312 | €828 | €148 | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €20,572 | €42,092 | €45,922 | €5,312 | €30,986 | ▲ 483% |
| Equity10/15 | €13,944 | €24,371 | €21,667 | -€14,936 | -€18,556 | ▼ 24.2% |
| Contributions10/11 | €2,500 | €2,500 | €2,500 | €2,500 | €2,500 | = |
| Reserves13 | - | - | €19,167 | €19,167 | €19,167 | = |
| Distributable reserves133 | - | - | €19,167 | €19,167 | €19,167 | = |
| Profit (loss) carried forward14 | €11,444 | €21,871 | €0 | -€36,603 | -€40,224 | ▼ 9.9% |
| Amounts payable17/49 | €6,629 | €17,721 | €24,255 | €20,247 | €49,542 | ▲ 145% |
| Amounts payable within one year42/48 | €6,629 | €17,721 | €24,255 | €20,247 | €49,542 | ▲ 145% |
| Trade debts44 | €847 | €2,114 | €13,036 | €11,595 | €11,165 | ▼ 3.7% |
| Suppliers440/4 | €847 | €2,114 | €13,036 | €11,595 | €11,165 | ▼ 3.7% |
| Advances received on contracts in progress46 | €2,030 | - | - | - | €2,860 | - |
| Taxes, remuneration and social security45 | €3,752 | €7,607 | €11,219 | €309 | €132 | ▼ 57.3% |
| Taxes450/3 | €3,752 | €7,607 | €11,219 | €309 | €132 | ▼ 57.3% |
| Other amounts payable47/48 | - | €8,000 | €0 | €8,343 | €35,385 | ▲ 324% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €16,524 | €18,428 | -€2,704 | -€36,603 | -€3,621 | ▲ 90.1% |
| + Depreciation and write-downs630 | €1,150 | €1,112 | €228 | €1,119 | €1,430 | ▲ 27.7% |
| Operating cash flow (approximation) | €17,674 | €19,540 | -€2,475 | -€35,484 | -€2,191 | ▲ 93.8% |
| Investment in fixed assets (approximation) | - | - | - | -€2,040 | €0 | ▲ 100% |
| Change in cash | - | €1,258 | €2,769 | -€4,031 | -€127 | ▲ 96.8% |
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
31-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
30-06
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
31-12
Financial
Weakest financial yearnet -€36,603
Net result drops to -€36,603, the lowest in the series; recovery starts the following year.
25-09
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 56 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
2022
31-12
Financial
Highest result since 2019net €18,428 ▲11.5%
Operating result €20,717, net result €18,428, both a record.
30-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 30 days late
2021
31-12
Financial
Back to profitnet €16,524
Net result €16,524 after 2 loss-making years.
14-09
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 410 days late
02-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 33 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 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
4 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, Antwerpen · 1 establishment unit since 2019
Ground area
1,491 m²
Building footprint
984 m²
Volume, LiDAR
7,216 m³
Parcel 11463D0325/00K002, Flanders · tallest building 8.2 m, ±3 floors. Linked by address, not a title deed.
314
companies at this address
See who is registered here
1 establishment unit
APJ
since 20192.311.709.146
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11463D0325/00K002 | Flanders | 1,491 m² | 1 · 984 m² | 8.2 m · 3 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 29,787 companies in sector 41001 we hold annual accounts for 16,042. 11,742 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
Founded06-08-2019
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
Contact
E-mail
phongtruongchan3@gmail.com
Phone
0466482066
E-invoicing
Reachable via Peppol
Peppol ID
0208:0731888160
Also
9925:BE0731888160
Registered
06-01-2026
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.